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TAMPA, Fla. (AP) — Tampa Bay’s bid for a fourth straight NFC South title and fifth consecutive playoff berth is gaining momentum. Back-to-back wins over a pair of last-place teams , combined with Atlanta’s three-game losing streak, have propelled the Bucs (6-6) to a tie atop the division. Although the Falcons (6-6) hold a tiebreaker after sweeping the season series between the teams, Tampa Bay can control its own destiny by finishing strong against a less than imposing schedule. The Bucs, who are back in the thick of the race after beating the New York Giants and Carolina Panthers, figure to be favored in four of their five remaining games. “Every week, we said it’s a playoff game, we got to take care of us. It’s not going to be easy. As it was (Sunday), it’s going to be a dog fight every week,” coach Todd Bowles said after Sunday’s 26-23 overtime win at Carolina. “We got to clean up some things, we know that, but it's hard to win in this league,” the coach said of the mistake-filled victory that lifted the Bucs back to .500. “We’ll take a win any way we can get it.” After facing Las Vegas (2-10) this week, the Bucs will finish with road games against the Los Angeles Chargers (8-4) and Dallas Cowboys (5-7), followed by home dates vs. Carolina (3-9) and the New Orleans Saints (4-8). Kicker Chase McLaughlin has been one of team’s most consistent performers, converting 21 of 23 field goal attempts. He was 4 of 5 against the Panthers, including 51-yarder to force overtime on the final play of regulation. He missed from 55 yards in OT before winning it with a 30-yard field goal on Tampa Bay’s next possession. Just when it appeared the defense was beginning to trend in the right direction, Carolina's Bryce Young threw for 298 yards without an interception against the Bucs in one of his better outings of the season. “In the first half, he did it with his feet and the second half he did it with his arm,” Bowles said. Running back Bucky Irving rushed for a career-best 152 yards and finished with 185 from scrimmage against Carolina, making him the first rookie since Miles Sanders in 2019 to have consecutive games with 150-plus yards from scrimmage. A week after playing well offensively and defensively in a 23-point rout of the New York Giants, the Bucs were sloppy against the Panthers. In addition to throwing two interceptions, Mayfield was sacked four times. Tampa Bay was penalized seven times for 54 yards, and the defense was only able to sack Young once. Mayfield (sore leg), linebacker K.J. Britt (sprained ankle) and safety Mike Edwards (hamstring) will be on the injury report this week. Bowles said he’s not sure what Mayfield's practice status will be when the team reconvenes Wednesday, however he expects the quarterback to play Sunday. 37 and 101 — Wide receiver Mike Evans had another big day against Carolina, posting the 37th 100-yard receiving performance of his career — fifth among active players. He also moved ahead of Hall of Famers Steve Largent and Tim Brown for sole possession of ninth place on the all-time list for TD receptions with 101. The Buccaneers host Las Vegas in Tampa Bay's first home game in a month and the third consecutive outing against a last-place team. The Raiders (2-10) have lost eight in a row. NFL: https://apnews.com/hub/nflEd Kelce reveals he is trying to find Taylor Swift a birthday present 'that tweaks the strings of her heart' READ MORE: Travis Kelce pays tribute to 'unbelievable' Taylor Swift By JAKE NISSE Published: 22:12, 12 December 2024 | Updated: 22:37, 12 December 2024 e-mail 30 shares 4 View comments Ed Kelce has revealed his gift-giving plans for Taylor Swift 's 35th birthday, as the father of her boyfriend and Chiefs star Travis is looking to get her something especially meaningful. Swift, who just wrapped up her Eras Tour after 20 months, is of course one of the richest people on earth - worth a staggering $1.6billion according to Forbes . And with the singer set to turn 35 on Friday, Ed knows it's not about how much he spends on a gift for her. 'In terms of buying Taylor a present, it's like trying to buy Jason and Travis a present,' Ed began on the Baskin & Phelps show on 92.3 The FAN in Cleveland. 'There's nothing they want that they don't already have. There's nothing they're thinking they might get that they haven't already figured out... you can't go that route. You have to look beyond that and you gotta' dig down and come up with something special. After one of the hosts suggested getting Swift a nice bottle of wine, Ed reiterated that he was focusing on getting her something sentimental. Ed Kelce is aiming to get pop star Taylor Swift a meaningful gift for her 35th birthday The pair have watched Ed's son and Taylor's boyfriend, Travis, together many times Kelce and Swift, who just wrapped up her Eras Tour, have been dating for more than a year 'The amount of money is meaningless, okay,' he said. 'You're not gonna impress Taylor Swift with a gift that costs $100,000. But get something that tweaks the strings of her heart that you spend $10 on, and she'll just be all gooey.' Since Swift and Chiefs tight end Travis began dating last year, the singer has been frequently seen taking in games at Arrowhead with her boyfriend's parents, Ed and Donna. She's expected to be a regular at Kelce's games for the remainder of this season now that her Eras Tour has finally concluded after a run of 149 performances that started in March 2023. Read More Jason and Travis Kelce react to being 'spotted' at Taylor Swift's Eras Tour show in Vancouver Swift ended the tour on Sunday in Vancouver, Canada, though neither Travis nor his brother Jason could be there due to their NFL commitments. Travis was playing for the Chiefs on Sunday while Jason was with ESPN in Dallas the following night for Monday Night Football. The tour brought in a staggering $2.2billion in its nearly two-year run, making it the highest-grossing tour of all time for a second year in a row. And following the conclusion of her 'insane' Eras Tour , Travis was full of praise for his girlfriend. 'Shoutout to everybody who was part of that show. Obviously it's her music, it's her tour, but that was a full production man, that thing,' he said on New Heighs. 'It was the best tour in the world because of a lot of people. But mostly because of Taylor!' Kansas City Chiefs Taylor Swift Share or comment on this article: Ed Kelce reveals he is trying to find Taylor Swift a birthday present 'that tweaks the strings of her heart' e-mail 30 shares Add commentTrump's NSA Pick Says He's in Lockstep With Biden's Adviser
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American Airlines briefly grounded flights nationwide Tuesday due to a technical issue just as the Christmas travel season kicks into overdrive and winter weather is threatening more potential problems for those planning to fly or drive. American flights were cleared to fly by federal regulators about one hour after a national ground stop order was issued by the Federal Aviation Administration. There were 1,447 delays for flights entering or leaving the U.S. early in the day, with 28 cancellations. Snow was falling early in New York and Dallas-Fort Worth International, which is American Airlines’ main hub, was getting hit with rain. Dallas-Fort Worth had the most delays, followed by Charlotte, North Carolina, Washington, New York, Chicago and Miami Because the holiday travel period lasts weeks, airports and airlines typically have smaller peak days than they do during the rush around Thanksgiving, but the grind of one hectic day followed by another takes a toll on flight crews. And any hiccups — a winter storm or a computer outage — can snowball into massive disruptions. That is how Southwest Airlines stranded 2 million travelers in December 2022, and Delta Air Lines suffered a smaller but significant meltdown after a worldwide technology outage in July caused by a faulty software update from cybersecurity company CrowdStrike. Many flights during the holidays are sold out, which makes cancellations even more disruptive than during slower periods. That is especially true for smaller budget airlines that have fewer flights and fewer options for rebooking passengers. Only the largest airlines, including American, Delta and United, have “interline agreements” that let them put stranded customers on another carrier’s flights. This will be the first holiday season since a Transportation Department rule took effect that requires airlines to give customers an automatic cash refund for a canceled or significantly delayed flight. Most air travelers were already eligible for refunds, but they often had to request them. Passengers still can ask to get rebooked, which is often a better option than a refund during peak travel periods. That’s because finding a last-minute flight on another airline yourself tends to be very expensive. Just before 7 a.m. Eastern time, the Federal Aviation Administration ordered all American Airlines flights grounded in the U.S. at the airline’s request. American had reported a technical issue affecting its entire system with millions traveling for the holiday. American said in an email that the problem Tuesday morning was caused by a vendor technology issue that “impacted systems needed to release flights.” The groundings couldn’t come at a worse time for the millions of travelers expected to fly over the next 10 days. The Transportation Security Administration expects to screen 40 million passengers over the holidays and through January 2. Airlines expect to have their busiest days on Friday and Sunday, and on Dec. 26, Dec. 27 and Dec. 29. Many flights during the holidays are sold out, which makes cancellations more disruptive than during slower periods. Even with just a brief outage, the cancellations have a cascading effect that can take days to clear up. About 90% of Americans traveling far from home over the holidays will be in cars, according to AAA. “Airline travel is just really high right now, but most people do drive to their destinations, and that is true for every holiday,” AAA spokesperson Aixa Diaz said. Gasoline prices are similar to last year. The nationwide average Thursday was $3.04 a gallon, down from $3.13 a year ago, according to AAA. Charging an electric vehicle averages just under 35 cents per per kilowatt hour, but varies by state. Transportation-data firm INRIX says travel times on the nation’s highways could be up to 30% longer than normal over the holidays, with Sunday expected to see the heaviest traffic. Boston, New York City, Seattle and Washington, D.C., are the metropolitan areas primed for the greatest delays, according to the company.The Republican-led House Resolution 1612 , or Liberty in Laundry Act, would prohibit the Secretary of Energy from enforcing energy conservation standards for clothes washers or dryers that “are not cost-effective or technologically feasible.” Rep. Andy Ogles, R-Tenn., who introduced the legislation, said the move is a response to the “slew of woke, ‘environmental’ nonsense rulemaking attempts” by the Biden administration and U.S. Department of Energy. “I have spent much of my time in Congress fighting back the federal government’s vast overreach into the lives of hardworking Americans,” Ogles announced after the bill’s passage Tuesday. “Americans should be able to do their laundry in peace without the input of Big Brother.” Earlier this year, the DOE finalized new updated standards for residential clothes washers and dryers which aim to cut costs and pollution. It estimates the regulations will reduce nearly 71 million metric tons of carbon dioxide emissions–equivalent to the combined annual emissions of nearly 9 million homes–and up to $39 billion on Americans’ energy and water bills over the next 30 years. House Democrats opposed the legislation's passage, saying "absolutely no one" stands to benefit from the law and accused Republicans of trying to curry favor with special interest groups. "H.R. 7673 guts popular energy efficiency standards for laundry machines – standards that save Americans money on their utility bills and reduce dangerous greenhouse gas pollution at the same time," said Energy and Commerce Committee Ranking Member Frank Pallone, Jr., D-N.J. "These efficiency standards create certainty for manufacturers and they protect consumers from rising costs. And, in the case of these laundry machine standards, they also reduce water use – a benefit that could greatly aid drought-prone regions around the nation." But the less electricity and water laundry appliances use, the less effectively they tend to perform, according to an Oct. 2024 report by the Institute for Energy Research. “Historically, appliances meeting Energy Department standards have often underperformed and have higher costs,” the report stated. “The Biden-Harris administration is imposing a series of regulations that are raising appliance prices and compromising quality for homeowners.” Unless the bill is signed into law, laundry appliance makers have until March 2028 to comply with the new rules.
In the latest episode of India Upfront, Pranesh roy discusses politics over Christmas Invite To PM Modi. The opposition takes aim at PM Modi over a Christmas invite, while the BJP hits back, calling it baseless fearmongering. From the Vatican to the Islamic world, Modi's 'Sabka Saath, Sabka Vikas' mantra continues to gain recognition. Yet, Modi Baiters Peddle 'Agenda'! Watch the show to know more.#bjp #congress #pmmodi #christmas #opposition #timesnowFollow Pranesh Roy:On X (Formerly Twitter): https://x.com/roypraneshIn a remarkable turn of events, BigBear.ai’s stock experienced a significant uptick on Thursday, with shares climbing 19.3% by mid-afternoon. This striking increase stands out, especially as the broader market, including the S&P 500, remained mostly flat, and the Nasdaq Composite saw only a marginal rise. What’s Fueling the BigBear.ai Rally? After facing a dip due to macroeconomic uncertainties, BigBear.ai, known for its AI software, is bouncing back alongside other so-called meme stocks. This rebound comes on the heels of investor concerns sparked by the Federal Reserve’s recent interest rate adjustment. While the Fed cut rates by 25 basis points, its updated forecast of just two similar cuts in the near future—down from an expected four—prompted a temporary sell-off last week. The resurgence of interest in speculative stocks like BigBear.ai is also driven by potential synergies with industry leader Palantir. Rumors suggest that Palantir’s strategic moves in the defense sector, particularly its collaboration with Anduril, may offer new opportunities for BigBear.ai. The Road Ahead for BigBear.ai While the AI sector continues to heat up, raising hopes for sustained growth and potential partnerships in defense, caution remains essential. Despite recent momentum, BigBear.ai’s price volatility reflects its speculative nature, and any future gains may not directly align with its business fundamentals. Although exciting developments are on the horizon, investors are advised to weigh the risks before diving into this dynamic stock. Can BigBear.ai Sustain Its Meteoric Stock Rise? Prospects and Pitfalls Explored In a surprising surge, BigBear.ai experienced a notable 19.3% increase in its stock value last Thursday. This impressive growth occurred despite broader market constraints, with major indices such as the S&P 500 remaining stable and the Nasdaq Composite showing only a slight increase. However, the question remains: Is BigBear.ai’s upward trajectory sustainable, and what factors could influence its future? Influential Factors Behind BigBear.ai’s Stock Surge The recent uptick for BigBear.ai can be attributed to several key factors: 1. Interest Rate Adjustments and Market Sentiment: The Federal Reserve’s recent decision to cut interest rates by 25 basis points has stirred market dynamics. Although initial investor reactions were cautious due to a lower-than-expected rate cut forecast, BigBear.ai’s classification as a speculative meme stock has allowed it to rebound as market sentiment evolved. 2. Potential Industry Synergies: Rumors of strategic alignments with major players, such as Palantir, are generating excitement. Palantir’s advancements in the defense sector, alongside its collaboration with Anduril, hint at promising opportunities for BigBear.ai to expand its footprint and capabilities in the AI domain. The Benefits and Challenges Ahead # Pros: – Innovation and Expansion: BigBear.ai’s position in the burgeoning AI sector offers significant growth potential, particularly through innovative solutions and possible partnerships. – Market Momentum: As part of the speculative stock category, BigBear.ai benefits from heightened investor interest, which can drive quick gains. # Cons: – Volatility Concerns: The speculative nature of BigBear.ai’s stock contributes to its volatility, posing a risk for investors seeking stability. – Financial Fundamentals: The recent rise in stock price may not necessarily reflect the company’s underlying financial health, urging cautious consideration from potential investors. Strategic Insights: Defense Sector Opportunities BigBear.ai’s association with defense industry giants suggests a promising avenue for sustained growth. Collaborations or partnerships in this high-demand field can solidify its market presence and explore new revenue streams. However, navigating regulatory challenges and aligning with defense sector needs will be crucial. Market Analysis and Predictions While BigBear.ai’s recent performance has captured investor attention, future directions will heavily rely on its ability to capitalize on emerging technologies and maintain strategic partnerships. Continued innovations in AI and data analytics could further drive excitement and demand. Yet, with high volatility and the speculative nature of its stock, the path forward is decidedly cautious. Conclusion: Navigating the Stock Market Odyssey For investors contemplating BigBear.ai, weighing the potential rewards against inherent risks remains essential. The current landscape offers opportunities but also demands vigilance. As AI technology continues to evolve, staying informed on market trends and company strategies will be pivotal for making informed investment decisions. For more information on BigBear.ai, visit their official website .Congressman Paul Tonko Joins National Institute for Industry and Career AdvancementTM and Industry Leaders for National Apprenticeship Week Roundtable to Strengthen New York's Semiconductor Talent Pipeline
Quick hitter: Hounds give up five in the second, lose 8-5 to the Brampton SteelheadsCompany experts offer predictions across key sectors to help businesses navigate the unexpected MEMPHIS, Tenn. , Dec. 12, 2024 /PRNewswire/ -- Sedgwick , a leading global provider of claims management, loss adjusting and technology-enabled business solutions, has published its Forecasting 2025 thought leadership report . In preparing the report, Sedgwick's experts conducted research and engaged with clients for notable insights to forecast trends across key sectors and topics. The content focuses on ensuring organizations are aware of new risks and evolving trends and helping them navigate the unexpected in the year ahead. The Forecasting 2025 thought leadership report highlights trends related to: "2024 was a seismic year across industry sectors as companies navigated the unexpected, and 2025 will be no different," said Kimberly George, Sedgwick's Global Chief Brand Officer . "These predictions serve as a barometer for what's to come, so leaders around the world can prepare accordingly." The trends and predictions in the Forecasting 2025 report will be monitored by Sedgwick's experts throughout the year and serve as part of a larger thought leadership strategy to keep clients and partners informed. With this, Sedgwick will launch a new podcast featuring in-depth conversations with its experts and client partners on a new topic each month. For more on the report insights, visit sedgwick.com . About Sedgwick Sedgwick is a leading global provider of claims management, loss adjusting and technology-enabled business solutions. The company provides a broad range of resources tailored to clients' specific needs in casualty, property, marine, benefits, brand protection and other lines. At Sedgwick, caring counts; through the dedication and expertise of over 33,000 colleagues across 80 countries, the company takes care of people and organizations by mitigating and reducing risks and losses, promoting health and productivity, protecting brand reputations, and containing costs that can impact performance. Sedgwick's majority shareholder is The Carlyle Group; Stone Point Capital LLC, Altas Partners, CDPQ, Onex and other management investors are minority shareholders. For more, see sedgwick.com . View original content to download multimedia: https://www.prnewswire.com/news-releases/sedgwick-shares-major-trends-in-forecasting-2025-report-302330767.html SOURCE Sedgwick Claims Management Services, Inc.
Torstein and Karine Hagen exercise warrants to tighten grip on Viking Holdings with $10.9bn stakeFrance has a new government, again. Politics and crushing debt complicate next steps
This year the Herald’s award-winning newsroom produced a range of first-class journalism, including exploring the NCEA and UE results of every college around NZ , the collapse of the Du Val property empire, revealing claims a former funeral director at Tipene Funerals was swindling grieving clients and charting the 10-year police probe that brought down Wayne Doyle and the Head Hunters . The following article was one of the best-read Premium articles in 2024. The story originally ran in November. Rights and principles relating to the Treaty of Waitangi are in sharp focus. The Treaty Principles Bill aims to minimise any additional Māori rights and to abolish existing principles. The basis of those rights are discussed here by legal experts. After the Act Party’s Treaty Principles Bill passed its first reading, the party ran an advertisement claiming that the interpretation of the Treaty of Waitangi “has resulted in different rights for different groups of New Zealanders”.
TAMPA, Fla. (AP) — Tampa Bay’s bid for a fourth straight NFC South title and fifth consecutive playoff berth is gaining momentum. Back-to-back wins over a pair of last-place teams , combined with Atlanta’s three-game losing streak, have propelled the Bucs (6-6) to a tie atop the division.Contribution from Tyman Acquisition Boosts Results Margin Expansion Realized on Consolidated Basis for Full Year $53.75 Million of Debt Repaid Since Closing Tyman Acquisition Integration of Transformative Acquisition Progressing Ahead of Schedule Realization of Synergies Ongoing HOUSTON, Dec. 12, 2024 (GLOBE NEWSWIRE) -- Quanex Building Products Corporation (NYSE:NX) (“Quanex” or the “Company”) today announced its results for the three months and twelve months ended October 31, 2024. The Company reported the following selected financial results: George Wilson, Chairman, President and Chief Executive Officer, commented, “On a consolidated basis, results for the fourth quarter and full year were boosted by the contribution from the Tyman acquisition. Results from the legacy Quanex business were in-line with our expectations for both the fourth quarter and full year. We are pleased with profitability despite the soft macro environment we experienced throughout 2024. Overall, we executed on our plan from an operational standpoint, and we executed on our long-term profitable growth strategy by closing on the transformative Tyman acquisition in August. In addition, our continued focus on cash flow and managing working capital enabled us to repay approximately $54 million in debt since closing the acquisition on August 1, 2024. “As we transition into 2025, we expect the current demand softness to persist until the spring selling season, but our expectations are that results will improve in the second half of 2025 due to typical seasonality combined with the benefit from unwinding pent up demand as interest rates continue to trend lower and consumer confidence improves. We will continue to focus on integrating the legacy Tyman business and capturing the targeted synergies. We have also settled on a new operating structure that is designed around our core competencies, which should enable us to capitalize on existing commercial opportunities and tap into new innovative solutions. Furthermore, we continue to be excited about building a stronger, more profitable company over time and creating additional value for our shareholders. We have scheduled an Investor and Analyst Day on February 6, 2025, to unveil the ‘new’ Quanex, which will include providing detail on the revamped operating structure, guidance for 2025 and an update on our long-term profitable growth strategy.” Fourth Quarter and Fiscal 2024 Results Summary Quanex reported net sales of $492.2 million during the three months ended October 31, 2024, which represents an increase of 66.6% compared to $295.5 million for the same period of 2023. The Company reported net sales of $1.28 billion during the twelve months ended October 31, 2024, which represents an increase of 13.0% compared to $1.13 billion for the same period of 2023. The increases reflect the contribution from the Tyman acquisition that closed on August 1, 2024. Excluding the contribution from Tyman, net sales would have declined by 2.3% for the fourth quarter of 2024 and 5.0% for the full year, largely due to lower volume. Quanex reported a decline in net sales of 4.7% for the fourth quarter of 2024 and a decline of 2.6% in net sales for the full year in its North American Fenestration segment. In its North American Cabinet Components segment, Quanex reported an increase of 1.7% in net sales for the fourth quarter and a decline of 7.9% in net sales for the full year. Excluding foreign exchange impact, the Company realized a decrease in net sales of 1.2% for the fourth quarter and a decrease of 8.9% in net sales for the full year in its European Fenestration segment. In addition, Quanex reported net sales of $203.4 million related to the Tyman acquisition during the fourth quarter of 2024. (See Sales Analysis table for additional information) The increase in adjusted earnings for the three months and twelve months ended October 31, 2024 was mostly attributable to the contribution from the Tyman acquisition; however, the increase in adjusted earnings was also due in part to the lower cost of sales, including labor, related to lower volumes and deflation in the price of raw materials. Quanex was able to realize margin expansion in the fourth quarter in its North American Fenestration segment mainly due to effective cost control. In addition, the Company was also able to realize margin expansion on a consolidated basis for the full year, primarily driven by the contribution from the Tyman acquisition. Balance Sheet & Liquidity Update The Company borrowed $770 million ($500 Term Loan A and $270 on Senior Secured Revolving Credit Facility) to acquire Tyman on August 1, 2024. Quanex repaid $53.75 million in debt during the fourth quarter of 2024. As of October 31, 2024, the Company had total debt of $776.9 million and Quanex’s leverage ratio of Net Debt to LTM Adjusted EBITDA was 3.7x. As of October 31, 2024, the Company’s LTM Net Income was $33.1 million and LTM Adjusted EBITDA was $182.4 million (See Non-GAAP Terminology Definitions and Disclaimers section, Net Debt Reconciliation table and Last Twelve Months Adjusted EBITDA Reconciliation table for additional information) The leverage ratio for Quanex’s quarterly debt covenant compliance (“Debt Covenant Leverage Ratio”) for its lenders was 2.3x as of October 31, 2024. The Debt Covenant Leverage Ratio calculation is defined in the Company’s Amendment No. 1 to its Second Amended and Restated Credit Agreement, which was filed with the SEC on June 12, 2024. In general, the main difference is that the Debt Covenant Leverage Ratio excludes real-estate leases that are considered “finance” leases under U.S. GAAP and is calculated on a proforma basis to include Adjusted EBITDA from the Tyman acquisition, $30 million of EBITDA for the synergy target related to the acquisition and only cash from domestic subsidiaries. The Debt Covenant Leverage Ratio would be 2.1x if calculated using the cash and cash equivalents amount on the balance sheet as of October 31, 2024. Quanex’s liquidity was $343.3 million as of October 31, 2024, consisting of $97.7 million in cash on hand plus availability under its Senior Secured Revolving Credit Facility due 2029, less letters of credit outstanding. Investor and Analyst Day The Company announced it will host an Investor and Analyst Day at the New York Stock Exchange, 11 Wall St. New York, NY 1005, on February 6, 2025. The event will begin at 9:00 a.m. ET and conclude at approximately 11:00 a.m. ET. All investors and analysts that plan to attend should RSVP for the event by January 23, 2025, by contacting Quanex’s Senior Vice President, Chief Financial Officer & Treasurer, Scott Zuehlke, by email ( scott.zuehlke@quanex.com ). Presentation content and a live audio webcast will be made available on Quanex’s website at http://www.quanex.com in the Investors section under Events & Presentations. A replay of the webcast will be posted following the live event. Conference Call and Webcast Information The Company has also scheduled a conference call for Friday, December 13, 2024 at 11:00 a.m. ET (10:00 a.m. CT) to discuss the release. A link to the live audio webcast will be available on Quanex’s website at http://www.quanex.com in the Investors section under Presentations & Events. Participants can pre-register for the conference call using the following link: https://register.vevent.com/register/BIef39998f168c4cff8d9ed1561cb1cc48 Registered participants will receive an email containing conference call details for dial-in options. To avoid delays, it is recommended that participants dial into the conference call ten minutes ahead of the scheduled start time. A replay will be available for a limited time on the Company’s website at http://www.quanex.com in the Investors section under Presentations & Events. About Quanex Quanex is a global manufacturer with core capabilities and broad applications across various end markets. The Company currently collaborates and partners with leading OEMs to provide innovative solutions in the window, door, solar, refrigeration, custom mixing, building access and cabinetry markets. Looking ahead, Quanex plans to leverage its material science expertise and process engineering to expand into adjacent markets. Non-GAAP Terminology Definitions and Disclaimers Adjusted Net Income (defined as net income further adjusted to exclude purchase price accounting inventory step-ups, transaction costs, certain severance charges, gain/loss on the sale of certain fixed assets, restructuring charges, asset impairment charges, other net adjustments related to foreign currency transaction gain/loss and effective tax rates reflecting impacts of adjustments on a with and without basis) and Adjusted EPS are non-GAAP financial measures that Quanex believes provide a consistent basis for comparison between periods and more accurately reflects operational performance, as they are not influenced by certain income or expense items not affecting ongoing operations. EBITDA (defined as net income or loss before interest, taxes, depreciation and amortization and other, net), Adjusted EBITDA and LTM Adjusted EBITDA (defined as EBITDA further adjusted to exclude purchase price accounting inventory step-ups, transaction costs, certain severance charges, gain/loss on the sale of certain fixed assets, restructuring charges and asset impairment charges) are non-GAAP financial measures that the Company uses to measure operational performance and assist with financial decision-making. Net Debt is defined as total debt (outstanding balance on the revolving credit facility plus financial lease obligations) less cash and cash equivalents. The leverage ratio of Net Debt to LTM Adjusted EBITDA is a financial measure that the Company believes is useful to investors and financial analysts in evaluating Quanex’s leverage. In addition, with certain limited adjustments, this leverage ratio is the basis for a key covenant in the Company’s credit agreement. Free Cash Flow is a non-GAAP measure calculated using cash provided by operating activities less capital expenditures. Quanex uses the Free Cash Flow metric to measure operational and cash management performance and assist with financial decision-making. Free Cash Flow is measured before application of certain contractual commitments (including capital lease obligations), and accordingly is not a true measure of the Company’s residual cash flow available for discretionary expenditures. Quanex believes Free Cash Flow is useful to investors in understanding and evaluating the Company’s financial and cash management performance. Quanex believes that the presented non-GAAP measures provide a consistent basis for comparison between periods and will assist investors in understanding the Company’s financial performance when comparing results to other investment opportunities. The presented non-GAAP measures may not be the same as those used by other companies. Quanex does not intend for this information to be considered in isolation or as a substitute for other measures prepared in accordance with U.S. GAAP. Forward Looking Statements Statements that use the words “estimated,” “expect,” “could,” “should,” “believe,” “will,” “might,” or similar words reflecting future expectations or beliefs are forward-looking statements. The forward-looking statements include, but are not limited to, the following: impacts from public health issues (including pandemics) on the economy and the demand for Quanex’s products, timing estimates or any other expectations related to the Acquisition, the Company’s future operating results, future financial condition, future uses of cash and other expenditures, expenses and tax rates, expectations relating to Quanex’s industry, and the Company’s future growth, including any guidance discussed in this press release. The statements and guidance set forth in this release are based on current expectations. Actual results or events may differ materially from this release. For a complete discussion of factors that may affect Quanex’s future performance, please refer to the Company’s Annual Report on Form 10-K for the fiscal year ended October 31, 2023, and the Company’s Quarterly Reports on Form 10-Q under the sections entitled “Cautionary Note Regarding Forward-Looking Statements” and “Risk Factors”. Any forward-looking statements in this press release are made as of the date hereof, and Quanex undertakes no obligation to update or revise any forward-looking statements to reflect new information or events.
New shoplifting data explains why they’re locking up the toothpaste
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