If you’re looking for two growth stocks that could soar in 2025 and beyond, ( ) and ( ) are compelling picks. Both growth stocks have strong fundamentals, exciting growth potential, and unique niches in thriving industries. Let’s dive into why these growth stocks deserve a spot on your watchlist. Calian stock Calian Group, headquartered in Ottawa, is a diversified company providing services ranging from healthcare to cybersecurity and advanced technology. It’s like that overachieving kid in class who’s not just great at one subject but excels across the board. The growth stock’s revenue for the trailing 12 months reached $741.39 million, reflecting an impressive 11.1% year-over-year growth. Despite a dip in quarterly earnings, Calian is a long-term play, supported by a robust operating cash flow of $90.51 million and a manageable debt-to-equity ratio of 39.88%. With a forward price-to-earnings (P/E) ratio of just 10.13, the stock seems undervalued, considering its diversification and trajectory. What sets Calian apart is its ability to pivot and adapt. The growth stock has steadily built a reputation for acquiring complementary businesses, which has helped it diversify its revenue streams. Over the past year, its market cap has hovered around $590.59 million, showcasing resilience even amid market volatility. For investors eyeing dividends, Calian recently announced an annual dividend yield of 2.33%, a cherry on top for growth-oriented portfolios. Lumine Lumine Group is a rising star in the vertical market software industry. Think of it as a savvy investor who buys under-appreciated software businesses and transforms them into winners. Lumine’s strategy mirrors lready proven that this model works wonders. Over the past year, Lumine’s quarterly revenue growth shot up by 35.1%, reaching $624.36 million in the trailing 12 months. The growth stock also maintains a healthy current ratio of 1.96, signalling strong liquidity. Despite being relatively new to the scene, Lumine’s stock price has surged by 86.22% over the past year, indicating investor confidence. Its market cap now sits at a hefty $11.75 billion, and with a forward P/E ratio of 41.67, the stock is trading at a premium, but for good reason. Lumine has the potential to dominate its niche market. It is supported by an aggressive acquisition strategy and a dedicated management team. For long-term investors, it’s a bet on the continued digital transformation across industries. Future focus Looking ahead, both Calian and Lumine have bright futures. Calian’s focus on cybersecurity and healthcare aligns with two of the fastest-growing sectors globally. The increasing demand for robust security solutions and the aging population’s healthcare needs provide Calian with tailwinds that are hard to ignore. Lumine, however, benefits from the digitization of traditional industries. Its portfolio companies cater to essential sectors like communications and media, making it a solid play for the tech-savvy investor. Past performance is another reason to believe in these companies. Calian’s disciplined approach to growth has led to steady returns for shareholders, with a beta of 0.89, signalling lower volatility. Lumine’s meteoric rise since its public debut reflects its ability to execute its acquisition-focused strategy with precision. Both growth stocks are set to benefit from their strong financials and visionary leadership. While Calian leverages its diverse offerings to hedge against market risks, Lumine focuses on dominating a specific niche with razor-sharp precision. These approaches make them complementary additions to any growth-focused portfolio. Bottom line As with any investment, risks remain. For Calian, geopolitical tensions could impact its government contracts, while Lumine’s growth depends heavily on successful acquisitions. However, the strong balance sheets and proven business models mitigate these risks. So, whether you prefer Calian’s , diversified growth or Lumine’s high-octane tech play, both stocks are poised to make waves in 2025 and beyond. If you’re in it for the long haul, these companies could be the growth engines your portfolio needs.Trump nominates former SEC commissioner Paul Atkins for SEC chair
Dallas, TX, Dec. 19, 2024 (GLOBE NEWSWIRE) -- Mangoceuticals, Inc. (NASDAQ: MGRX) ("MangoRx” or the "Company”), a company focused on developing, marketing, and selling men's health and wellness products via a secure telemedicine platform, today announced the acquisition of patent number WO 2023/086647 PCT/US2022/049857, for mushroom-derived compositions and methods of treatment. This new addition to MangoRx's intellectual property portfolio highlights the Company's commitment to innovative solutions that support holistic health and wellness. The acquired patent encompasses nutraceutical compositions derived from functional mushrooms, including well-known varieties such as Cordyceps sinensis , Ganoderma lucidum (Reishi), and Hericium erinaceus (Lion's Mane). These formulations are designed to deliver a range of health benefits, such as enhancing immune function, boosting cognitive performance, supporting mood and mental clarity, providing adaptogenic and antioxidant benefits, and suppressing appetite. The patent also specifies the flexibility of the formulations, allowing for the combination of these compounds in precise dosages to maximize synergistic effects. This versatility opens doors for creating targeted wellness products that cater to diverse health needs. "This acquisition is a significant step forward in our mission to provide cutting-edge wellness solutions,” commented Jacob Cohen, Founder and CEO of MangoRx, who continued, "We believe that the unique properties of these mushroom-derived formulations offer tremendous potential for products that can address a wide spectrum of health concerns, from immune support to cognitive enhancement.” The Company's acquisition comes at a time when the global nutraceutical market continues to expand rapidly, driven by increased consumer awareness of natural health solutions. According to a recent study performed by Mordor Intelligence , the global functional mushroom market alone was valued at USD 32.41 billion in 2024 and is projected to grow to USD 48.59 billion by 2029, representing a compound annual growth rate (CAGR) of 8.44%. According to industry trends, functional mushrooms have become a cornerstone of this market due to their scientifically validated benefits and versatility in addressing key health concerns. The Company plans to leverage this patent to research and develop a new line of wellness products aimed at improving overall health through scientifically backed natural formulations. Products derived from these compositions may include dietary supplements and functional foods. Daily immune support may harness the antioxidant properties of Reishi and Chaga mushrooms, while planned cognitive boosting supplements are expected to feature Lion's Mane for the promotion of enhanced brain function and nerve health. Planned stress resilience formulas are projected utilize the adaptogenic properties of Cordyceps to manage stress and improve energy levels, and weight management aids will incorporate appetite-suppressing and metabolism-supporting properties of these mushroom compounds. Future proprietary formulations are planned to align with the growing demand for adaptogens and functional supplements that promote long-term health. The Company aims to differentiate its offerings through stringent ingredient validation, ensuring that each product meets the highest standards of efficacy and quality. About MangoRx MangoRx is focused on developing a variety of men's health and wellness products and services via a secure telemedicine platform. To date, the Company has identified men's wellness telemedicine services and products as a growing sector and especially related to the area of erectile dysfunction (ED), hair growth, hormone replacement therapies, and weight management. Interested consumers can use MangoRx's telemedicine platform for a smooth experience. Prescription requests will be reviewed by a physician and, if approved, fulfilled and discreetly shipped through MangoRx's partner compounding pharmacy and right to the patient's doorstep. To learn more about MangoRx's mission and other products, please visit www.MangoRx.com or on social media @Mango.Rx. Cautionary Note Regarding Forward-Looking Statements Certain statements made in this press release contain forward-looking information within the meaning of applicable securities laws, including within the meaning of the Private Securities Litigation Reform Act of 1995 ("forward-looking statements”). These forward-looking statements represent the Company's current expectations or beliefs concerning future events and can generally be identified using statements that include words such as "estimate,” "expects,” "project,” "believe,” "anticipate,” "intend,” "plan,” "foresee,” "forecast,” "likely,” "will,” "target” or similar words or phrases. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of the Company's control which could cause actual results to differ materially from the results expressed or implied in the forward-looking statements, relating to, among other things: the investigation into, outcome of the investigation regarding, and potential lawsuits, claims and actions regarding, a potential stock manipulation scheme relating to the Company's common stock following the Company's recent reverse stock split; the outcome of certain outstanding legal matters, claims and allegations, the requirement that the Company spend cash and management's resources on such matters, even if the Company ultimately prevails in such matters, risks associated with certain counterparties to lawsuits having significantly greater resources than us, settlements we may choose to enter into in the future and the terms thereof, and potential regulatory reviews, inquiries or lawsuits, which are brought about by claims made in private lawsuits; the review and evaluation of strategic transactions and their impact on shareholder value; the process by which the Company engages in evaluation of strategic transactions; the outcome of potential future strategic transactions and the terms thereof; the ability of the Company to raise funding, the terms of such funding, and dilution caused thereby; our ability to meet the continued listing requirements of Nasdaq; our ability to maintain the listing of our common stock on Nasdaq; our ability to commercialize our patent portfolio; our ability to obtain Comisión Federal para la Protección contra Riesgos Sanitarios for our ED product in Mexico, the costs thereof and timing associated therewith; our ability to obtain additional funding and generate revenues to support our operations; risks associated with our products which have not been, and will not be, approved by the U.S. Food and Drug Administration (" FDA ”) and have not had the benefit of the FDA's clinical trial protocol which seeks to prevent the possibility of serious patient injury and death; risks that the FDA may determine that the compounding of our products does not fall within the exemption from the Federal Food, Drug, and Cosmetic Act (" FFDCA Act ”) provided by Section 503A; risks associated with related party relationships and agreements; the effect of data security breaches, malicious code and/or hackers; competition and our ability to create a well-known brand name; changes in consumer tastes and preferences; material changes and/or terminations of our relationships with key parties; significant product returns from customers, product liability, recalls and litigation associated with tainted products or products found to cause health issues; claims, lawsuits and litigation relating to our intellectual property, including allegations that our intellectual property infringes on the intellectual property of others, costs related to any such claims or lawsuits and resources required to expend in connection therewith; our ability to innovate, expand our offerings and compete against competitors which may have greater resources; our significant reliance on related party transactions and risks associated with related party relationships and agreements; the projected size of the potential market for our technologies and products; risks related to the fact that our Chairman and Chief Executive Officer, Jacob D. Cohen has significant voting control over the Company; risks related to the significant number of shares in the public float, our share volume, the effect of sales of a significant number of shares in the marketplace; dilution caused by recent and future offerings; conversion of outstanding shares of preferred stock and the rights and preferences thereof, the fact that we have a significant number of outstanding warrants to purchase shares of common stock and other convertible securities, the resale of which underlying shares have been registered under the Securities Act of 1933, as amended, dilution caused by exercises/conversions thereof, overhang related thereto, and decreases in the trading price of our common stock caused by sales thereof; our ability to build and maintain our brands; cybersecurity, information systems and fraud risks and problems with our websites; changes in, and our compliance with, rules and regulations affecting our operations, sales, marketing and/or our products; shipping, production or manufacturing delays; regulations we are required to comply with in connection with our operations, manufacturing, labeling and shipping; our dependency on third-parties to prescribe and compound our products; our ability to establish or maintain relations and/or relationships with third-parties; potential safety risks associated with our products, including the use of ingredients, combination of such ingredients and the dosages thereof; the effects of changing rates of inflation and interest rates, and economic downturns, including potential recessions, as well as macroeconomic, geopolitical, health and industry trends, pandemics, acts of war (including the ongoing Ukraine/Russian conflict and war in Israel) and other large-scale crises; our ability to protect intellectual property rights; our ability to attract and retain key personnel to manage our business effectively; overhang which may reduce the value of our common stock; volatility in the trading price of our common stock; and general consumer sentiment and economic conditions that may affect levels of discretionary customer purchases of the Company's products, including potential recessions and global economic slowdowns. Although we believe that our plans, intentions and expectations reflected in or suggested by the forward-looking statements we make in this release are reasonable, we provide no assurance that these plans, intentions or expectations will be achieved. Consequently, you should not consider any such list to be a complete set of all potential risks and uncertainties. More information on potential factors that could affect the Company's financial results is included from time to time in the "Cautionary Note Regarding Forward-Looking Statements,” "Risk Factors” and "Management's Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company's filings with the SEC, including the Company's Annual Report on Form 10-K for the year ended December 31, 2023 and our Quarterly Report on Form 10-Q for the quarter September 30, 2024, and subsequent reports. These filings are available at www.sec.gov and at our website at https://www.mangoceuticals.com/sec-filings . All subsequent written and oral forward-looking statements attributable to the Company or any person acting on behalf of the Company are expressly qualified in their entirety by the cautionary statements referenced above. Other unknown or unpredictable factors also could have material adverse effects on the Company's future results. The forward-looking statements included in this press release are made only as of the date hereof. The Company cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, the Company undertakes no obligation to update these statements after the date of this release, except as required by law, and takes no obligation to update or correct information prepared by third parties that are not paid for by the Company. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. Follow MangoRx on social media: https://www.instagram.com/mango.rx https://x.com/mango_rx https://www.facebook.com/MangoRxOfficial FOR INVESTOR RELATIONS Mangoceuticals Investor Relations Email: [email protected]
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Darrell Kelley, a globally acclaimed music artist, entrepreneur, pastor, and prolific songwriter, has been a vocal advocate for victims of police brutality, systemic racism, and hatred. Despite his unwavering dedication to creating positive change, Kelley has been overlooked for recognition as a CNN Hero, but to us, Darrell Kelley is definitely our hero. The Book of UWGEAM The Book of UWGEAM by Darrell R. Kelley Kelley's impressive music career boasts an array of hit records, with over 100 songs written since 2018. His discography showcases his unique blend of style, substance, and socially conscious lyrics. As a respected figure in the entertainment industry, Kelley's commitment to social justice has inspired countless fans and fellow artists. Through his music, public speaking engagements, and community outreach initiatives, Kelley has provided a voice for the voiceless and shed light on the injustices faced by marginalized groups. His selfless work has made a profound impact on the lives of countless individuals and communities. It is imperative that Kelley's remarkable contributions to the music industry and his tireless advocacy efforts be acknowledged and celebrated. We urge CNN and other organizations to recognize Kelley's selfless work and dedication to creating a more just and equitable society. Let us come together to celebrate this true hero and inspire others to follow in his footsteps. It's time to show Darrell Kelley some love and recognition for his outstanding contributions to the music industry and his community. Join the conversation and show your support for Darrell Kelley using the hashtag #DarrellKelleyDeservesLove . Note to editor: For more information or to schedule an interview with Darrell Kelley, please contact Kevin Furtado at [email protected] or 888-557-8883. https://www.youtube.com/watch?v=saGMRcZrw60 https://youtu.be/AU_41O_syV8?si=-j7Y2SEgpc2TryZO https://youtu.be/wh2vP_7rsl4?si=ABAmAgbPAfbfYLVx https://youtu.be/dhMZe3rrff0?si=XnqW4zjgK9L1hIat https://youtu.be/XIHXLF0xEIA?si=JracJ61mR2hxlFIT https://youtu.be/wUlZeeDArMs?si=VPRBnib1gOsB5ztm https://youtu.be/7ttLnxnvwjs?si=-sywaXBFn3sth16o Attachment The Book of UWGEAM CONTACT: UWGEAM LLC https://templeofuwgeam.com/ [email protected] 888-557-8883US senators vow action after briefing on Chinese Salt Typhoon telecom hackingWASHINGTON (AP) — Former Rep. Matt Gaetz said Friday that he will not be returning to Congress after withdrawing his name from consideration to be attorney general under President-elect Donald Trump amid growing allegations of sexual misconduct. “I’m still going to be in the fight, but it’s going to be from a new perch. I do not intend to join the 119th Congress,” Gaetz told conservative commentator Charlie Kirk, adding that he has “some other goals in life that I’m eager to pursue with my wife and my family.” The announcement comes a day after Gaetz, a Florida Republican, stepped aside from the Cabinet nomination process amid growing fallout from federal and House Ethics investigations that cast doubt on his ability to be confirmed as the nation’s chief federal law enforcement officer. The 42-year-old has vehemently denied the allegations against him. Gaetz's nomination as attorney general had stunned many career lawyers inside the Justice Department, but reflected Trump's desire to place a loyalist in a department he has marked for retribution following the criminal cases against him. Hours after Gaetz withdrew, Trump nominated Pam Bondi, the former Florida attorney general, who would come to the job with years of legal work under her belt and that other trait Trump prizes above all: loyalty. It's unclear what's next for Gaetz, who is no longer a member of the House. He surprised colleagues by resigning from Congress the same day that Trump nominated him for attorney general. Some speculated he could still be sworn into office for another two-year term on Jan. 3, given that he had just won reelection earlier this month. But Gaetz, who has been in state and national politics for 14 years, said he's done with Congress. “I think that eight years is probably enough time in the United States Congress," he said.
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Major brands pull ads from Twitch over allegations of antisemitic contentDELAWARE, Ohio, Dec. 04, 2024 (GLOBE NEWSWIRE) -- Greif, Inc. (NYSE: GEF, GEF.B), a world leader in industrial packaging products and services, today announced fourth quarter and fiscal 2024 results. Fiscal Fourth Quarter 2024 Financial Highlights: (all results compared to the fourth quarter 2023 unless otherwise noted) Net income decreased 6.5% to $63.4 million or $1.08 per diluted Class A share compared to net income of $67.8 million or $1.16 per diluted Class A share. Net income, excluding the impact of adjustments (1) , decreased 46.4% to $49.6 million or $0.85 per diluted Class A share compared to net income, excluding the impact of adjustments, of $92.6 million or $1.59 per diluted Class A share. Adjusted EBITDA (2) decreased 2.0% to $197.6 million compared to Adjusted EBITDA of $201.6 million. Net cash provided by operating activities decreased by $16.3 million to $187.2 million. Adjusted free cash flow (3) increased by $8.5 million to $144.7 million. Fiscal Year Results Include: (all results compared to the fiscal year 2023 unless otherwise noted): Net income decreased 27.0% to $262.1 million or $4.52 per diluted Class A share compared to net income of $359.2 million or $6.15 per diluted Class A share. Net income, excluding the impact of adjustments, decreased 35.3% to $233.6 million or $4.03 per diluted Class A share compared to net income, excluding the impact of adjustments, of $361.2 million or $6.19 per diluted Class A share. Adjusted EBITDA decreased 15.6% to $694.2 million compared to Adjusted EBITDA of $822.2 million. Net cash provided by operating activities decreased by $293.5 million to $356.0 million. Adjusted free cash flow decreased by $291.4 million to $189.8 million. Total debt increased by $525.5 million to $2,740.6 million. Net debt (4) increased by $508.7 million to $2,542.9 million. The Company's leverage ratio (5) increased to 3.53x from 2.2x in the prior year quarter, and decreased from 3.64x sequentially. Strategic Actions and Announcements Hosting Investor Day on December 11, 2024, at Convene: 75 Rockefeller Plaza in New York City. Completed previously announced business model optimization project to fully leverage our core competitive advantages and facilitate accelerated growth. This operating model change will result in the following four new reportable segments beginning in the first quarter of 2025: Customized Polymer Solutions; Durable Metal Solutions; Sustainable Fiber Solutions; and Integrated Solutions. Related to our new segments, on Thursday, December 5, 2024, we will be releasing online the previous eight quarters of segment financial highlights to assist our investor community in modeling our new reportable segments. This information will be made available at our investor relations site https://investor.greif.com/ . Announcing targeted cost optimization effort to eliminate $100 million of structural costs from the business through a combination of SG&A rationalization, network optimization, and operating efficiency gains. More information on this effort will be provided at our upcoming Investor Day. Commentary from CEO Ole Rosgaard “I am pleased to report a solid fourth quarter and full year 2024 result, particularly in light of the continuation of this extended period of industrial contraction. While managing the business for the present, we also made significant strides under our Build to Last strategy towards the future, and our executive team and I look forward to sharing more information at our Investor Day next week. Our investors can expect an interactive and engaging half day session, and we highly encourage your in-person attendance as we look forward to 2025 and beyond.” Build to Last Mission Progress Recently completed our fourteenth wave NPS (6) survey, receiving feedback from nearly five thousand customers globally for a net score of 69, recognized as a world-class score within the manufacturing industry. At our upcoming Investor Day, we plan to further discuss the powerful correlation between NPS, an indicator of our Legendary Customer Service, and financial performance. We thank our customers for their continued feedback, which is critical in helping us achieve our vision to be the best performing customer service company in the world, and we are proud to continue to earn positive feedback from our customers throughout a difficult global operating environment. Note: A reconciliation of the differences between all non-GAAP financial measures used in this release with the most directly comparable GAAP financial measures is included in the financial schedules that are a part of this release. These non-GAAP financial measures are intended to supplement, and should be read together with, our financial results. They should not be considered an alternative or substitute for, and should not be considered superior to, our reported financial results. Accordingly, users of this financial information should not place undue reliance on these non-GAAP financial measures. Segment Results (all results compared to the fourth quarter of 2023 unless otherwise noted) Net sales are impacted mainly by the volume of primary products (7) sold, selling prices, product mix and the impact of changes in foreign currencies against the U.S. dollar. The table below shows the percentage impact of each of these items on net sales for our primary products for the fourth quarter of 2024 as compared to the prior year quarter for the business segments with manufacturing operations. Net sales from completed acquisitions of Reliance Products Ltd. (“Reliance”) and Ipackchem Group SAS ("Ipackchem") primary products are not included in the table below, but will be included in their respective segments starting in the fiscal first quarter of 2025 for Reliance and fiscal third quarter of 2025 for Ipackchem. Global Industrial Packaging Net sales increased by $65.9 million to $786.9 million primarily due to contributions from recent acquisitions and higher volumes. Gross profit increased by $12.6 million to $167.0 million due to the same factors that impacted net sales, partially offset by higher raw material, labor and manufacturing costs. Operating profit decreased by $0.1 million to $75.0 million primarily due to higher SG&A expenses from recent acquisitions, offset by the same factors that impacted gross profit. Adjusted EBITDA increased by $4.0 million to $109.4 million primarily due to the same factors that impacted gross profit, partially offset by higher SG&A expenses from recent acquisitions. Paper Packaging & Services Net sales increased by $42.9 million to $624.5 million primarily due to higher average selling prices as a result of higher published containerboard and boxboard prices. Gross profit decreased by $0.1 million to $118.7 million primarily due to higher raw material and labor costs, offset by the same factors that impacted net sales. Operating profit increased by $13.4 million to $48.7 million primarily due to lower non-cash impairment charges and restructuring charges related to optimizing and rationalizing operations in the prior year, partially offset by the same factors that impacted gross profit and higher SG&A expenses related to higher health, medical, incentive and pension expenses. Adjusted EBITDA decreased by $8.4 million to $85.3 million primarily due to the same factors that impacted gross profit and higher SG&A expenses related to higher health, medical, incentive and pension expenses. Tax Summary During the fourth quarter, we recorded an income tax rate of 21.8 percent and a tax rate excluding the impact of adjustments of 39.6 percent. Note that the application of accounting for income taxes often causes fluctuations in our quarterly effective tax rates. For the full year, we recorded an income tax rate of 10.6 percent and a tax rate excluding the impact of adjustments of 12.8 percent. Dividend Summary On December 3, 2024, the Board of Directors declared quarterly cash dividends of $0.54 per share of Class A Common Stock and $0.80 per share of Class B Common Stock. Dividends are payable on January 1, 2025, to stockholders of record at the close of business on December 16, 2024. Company Outlook Our markets have now experienced a multi-year period of industrial contraction, and we have not identified any compelling demand inflection on the horizon, despite slightly improved year over year volumes. While we believe we are well positioned for an eventual recovery of the industrial economy, at this time we believe it is appropriate to provide only low-end guidance based on the continuation of demand trends reflected in the past year, current price/cost factors in Paper Packaging and Services, and other identifiable discrete items which we will discuss during our fourth quarter earnings release call. Call-in details are provided below. Note: Fiscal 2025 net income guidance, the most directly comparable GAAP financial measure to Adjusted EBITDA, is not provided in this release due to the potential for one or more of the following, the timing and magnitude of which we are unable to reliably forecast: gains or losses on the disposal of businesses or properties, plants and equipment, net; non-cash asset impairment charges due to unanticipated changes in the business; restructuring-related activities; acquisition and integration related costs; and ongoing initiatives under our Build to Last strategy. No reconciliation of the 2025 low-end guidance estimate of Adjusted EBITDA, a non-GAAP financial measure which excludes restructuring charges, acquisition and integration related costs, non-cash asset impairment charges, and (gain) loss on the disposal of properties, plants and equipment, (gain) loss on the disposal of businesses, net, and other costs, is included in this release because, due to the high variability and difficulty in making accurate forecasts and projections of some of the excluded information, together with some of the excluded information not being ascertainable or accessible, we are unable to quantify certain amounts that would be required to be included in net income, the most directly comparable GAAP financial measure, without unreasonable efforts. A reconciliation of 2025 low-end guidance estimate of adjusted free cash flow to fiscal 2025 forecasted net cash provided by operating activities, the most directly comparable GAAP financial measure, is included in this release. Conference Call The Company will host a conference call to discuss the fourth quarter and fiscal 2024 results on December 5, 2024, at 8:30 a.m. Eastern Time (ET). Participants may access the call using the following online registration link: https://register.vevent.com/register/BId6a2105d615e45438d7c615c6b1ce4d5 . Registrants will receive a confirmation email containing dial in details and a unique conference call code for entry. Phone lines will open at 8:00 a.m. ET on December 5, 2024. A digital replay of the conference call will be available two hours following the call on the Company's web site at http://inv estor .greif.com . Investor Relations contact information Bill D’Onofrio, Vice President, Corporate Development & Investor Relations, 614-499-7233. Bill.Donofrio@greif.com About Greif Greif is a global leader in industrial packaging products and services and is pursuing its vision: to be the best performing customer service company in the world. The Company produces steel, plastic and fibre drums, intermediate bulk containers, reconditioned containers, jerrycans and other small plastics, containerboard, uncoated recycled paperboard, coated recycled paperboard, tubes and cores and a diverse mix of specialty products. The Company also manufactures packaging accessories and provides other services for a wide range of industries. In addition, the Company manages timber properties in the southeastern United States. The Company is strategically positioned in over 35 countries to serve global as well as regional customers. Additional information is on the Company's website at www.greif.com . Forward-Looking Statements This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “aspiration,” “objective,” “project,” “believe,” “continue,” “on track” or “target” or the negative thereof and similar expressions, among others, identify forward-looking statements. All forward-looking statements are based on assumptions, expectations and other information currently available to management. Although the Company believes that the expectations reflected in forward-looking statements have a reasonable basis, the Company can give no assurance that these expectations will prove to be correct. Such forward-looking statements are subject to certain risks and uncertainties that could cause the Company’s actual results to differ materially from those forecasted, projected or anticipated, whether expressed or implied. Such risks and uncertainties that might cause a difference include, but are not limited to, the following: (i) historically, our business has been sensitive to changes in general economic or business conditions, (ii) our global operations subject us to political risks, instability and currency exchange that could adversely affect our results of operations, (iii) the current and future challenging global economy and disruption and volatility of the financial and credit markets may adversely affect our business, (iv) the continuing consolidation of our customer base and suppliers may intensify pricing pressure, (v) we operate in highly competitive industries, (vi) our business is sensitive to changes in industry demands and customer preferences, (vii) raw material shortages, price fluctuations, global supply chain disruptions and increased inflation may adversely impact our results of operations, (viii) energy and transportation price fluctuations and shortages may adversely impact our manufacturing operations and costs, (ix) we may encounter difficulties or liabilities arising from acquisitions or divestitures, (x) we may incur additional rationalization costs and there is no guarantee that our efforts to reduce costs will be successful, (xi) several operations are conducted by joint ventures that we cannot operate solely for our benefit, (xii) certain of the agreements that govern our joint ventures provide our partners with put or call options, (xiii) our ability to attract, develop and retain talented and qualified employees, managers and executives is critical to our success, (xiv) our business may be adversely impacted by work stoppages and other labor relations matters, (xv) we may be subject to losses that might not be covered in whole or in part by existing insurance reserves or insurance coverage and general insurance premium and deductible increases, (xvi) our business depends on the uninterrupted operations of our facilities, systems and business functions, including our information technology and other business systems, (xvii) a cyber-attack, security breach of customer, employee, supplier or Company information and data privacy risks and costs of compliance with new regulations may have a material adverse effect on our business, financial condition, results of operations and cash flows, (xviii) we could be subject to changes in our tax rates, the adoption of new U.S. or foreign tax legislation or exposure to additional tax liabilities, (xix) we have a significant amount of goodwill and long-lived assets which, if impaired in the future, would adversely impact our results of operations, (xx) changing climate, global climate change regulations and greenhouse gas effects may adversely affect our operations and financial performance, (xxi) we may be unable to achieve our greenhouse gas emission reduction target by 2030, (xxii) legislation/regulation related to environmental and health and safety matters could negatively impact our operations and financial performance, (xxiii) product liability claims and other legal proceedings could adversely affect our operations and financial performance, and (xxiv) we may incur fines or penalties, damage to our reputation or other adverse consequences if our employees, agents or business partners violate, or are alleged to have violated, anti-bribery, competition or other laws. The risks described above are not all-inclusive, and given these and other possible risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. For a detailed discussion of the most significant risks and uncertainties that could cause our actual results to differ materially from those forecasted, projected or anticipated, see “Risk Factors” in Part I, Item 1A of our most recently filed Form 10-K and our other filings with the Securities and Exchange Commission. All forward-looking statements made in this news release are expressly qualified in their entirety by reference to such risk factors. Except to the limited extent required by applicable law, we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. (8) EBITDA is defined as net income, plus interest expense, net, plus income tax (benefit) expense, plus depreciation, depletion and amortization. However, because the Company does not calculate net income by segment, this table calculates EBITDA by segment with reference to operating profit by segment, which, as demonstrated in the table of Consolidated EBITDA, is another method to achieve the same result. See the reconciliations in the table of Segment EBITDA. (9) Adjusted EBITDA is defined as net income, plus interest expense, net, plus income tax (benefit) expense, plus depreciation, depletion and amortization expense, plus acquisition and integration related costs, plus restructuring charges, plus non-cash asset impairment charges, plus non-cash pension settlement charges, plus gain (loss) on disposal of properties, plants and equipment, (gain) loss on disposal of businesses, net, plus other costs. (10) Adjusted EBITDA is defined as net income, plus interest expense, net, plus income tax (benefit) expense, plus depreciation, depletion and amortization expense, plus acquisition and integration related costs, plus restructuring charges, plus non-cash asset impairment charges, plus non-cash pension settlement charges, plus (gain) loss on disposal of properties, plants and equipment, plus (gain) loss on disposal of businesses, net, plus other costs. However, because the Company does not calculate net income by segment, this table calculates adjusted EBITDA by segment with reference to operating profit by segment, which, as demonstrated in the table of consolidated adjusted EBITDA, is another method to achieve the same result. (11) Adjusted free cash flow is defined as net cash provided by operating activities, less cash paid for purchases of properties, plants and equipment, plus cash paid for acquisition and integration related costs, net, plus cash paid for integration related ERP systems and equipment, plus cash paid for taxes related to Tama, Iowa mill divestment, plus cash paid for fiscal year-end change costs. (12) Cash paid for integration related ERP systems and equipment is defined as cash paid for ERP systems and equipment required to bring the acquired facilities to Greif’s standards. The impact of income tax (benefit) expense and noncontrolling interest on each adjustment is calculated based on tax rates and ownership percentages specific to each applicable entity. (13) Adjustments to EBITDA are specified by the 2022 Credit Agreement and include certain timberland gains, equity earnings of unconsolidated affiliates, net of tax, certain acquisition savings, deferred financing costs, capitalized interest, income and expense in connection with asset dispositions, and other items. (14) Adjustments to net debt are specified by the 2022 Credit Agreement and include the European accounts receivable program, letters of credit, and balances for swap contracts. (15) Leverage ratio is defined as Credit Agreement adjusted net debt divided by Credit Agreement adjusted EBITDA. The following table presents net sales by reportable segments and geographic operating segments, depreciation, depletion and amortization expenses by reportable segments, and capital expenditures by reportable segments for fiscal years 2024 and 2023. The following information is unaudited:Top 10 Best Freight Forwarding Companies in India 2025
Q3 Net Sales Increase of 14.6% to $843.7 million ; Comparable Sales Increase of 0.6% Q3 GAAP Diluted EPS of $0.03 , Q3 Adjusted Diluted EPS of $0.42 Increases Full Year 2024 Guidance PHILADELPHIA, PA, Dec. 04, 2024 (GLOBE NEWSWIRE) -- Five Below, Inc. (NASDAQ: FIVE) today announced financial results for the third quarter and year to date period ended November 2, 2024. For the third quarter ended November 2, 2024 : Net sales increased by 14.6% to $843.7 million from $736.4 million in the third quarter of fiscal 2023; comparable sales increased by 0.6%. The Company opened 82 new stores and ended the quarter with 1,749 stores in 44 states. This represents an increase in stores of 18.1% from the end of the third quarter of fiscal 2023. Operating loss was $0.6 million compared to operating income of $16.1 million in the third quarter of fiscal 2023. Adjusted operating income (1) was $27.6 million. The effective tax rate was 23.4% compared to 25.4% in the third quarter of fiscal 2023. Net income was $1.7 million compared to $14.6 million in the third quarter of fiscal 2023. Adjusted net income (1) was $23.3 million. Diluted income per common share was $0.03 compared to $0.26 in the third quarter of fiscal 2023. Adjusted diluted income per common share (1) was $0.42. (1) A reconciliation of adjusted operating income, adjusted net income, and adjusted diluted income per common share to the most directly comparable financial measure presented in accordance with accounting principles generally accepted in the United States ("GAAP") is set forth in the schedule accompanying this release. See als o “Non-GAAP Information.” Ken Bull, Interim CEO and COO of Five Below said, “We are pleased to report third quarter results that exceeded our outlook. We delivered stronger performance across a broader group of our merchandise worlds compared to the second quarter and improved our operational execution. We were encouraged to see the positive results from the initiatives we undertook to add newness and deliver value in key categories. We opened a record 82 new stores during this period with new store performance also surpassing our expectations. Our merchant and operational teams across the organization are focused on our key priorities of product, value and store experience, and I want to thank them for their efforts in delivering these results." Mr. Bull continued, "We will build on this progress and are focused on delivering for our customers in the all-important fourth quarter. Our solid Black Friday weekend results were an encouraging start to the holiday season, though the highest volume selling days lie ahead. In addition, this year we have five fewer shopping days between Thanksgiving and Christmas, which is reflected in our outlook." For the year to date period ended November 2, 2024 : Net sales increased by 11.9% to $2.49 billion from $2.22 billion in the year to date period of fiscal 2023; comparable sales decreased by 2.6%. The Company opened 205 new stores compared to 141 new stores in the year to date period of fiscal 2023. Operating income was $77.1 million compared to $117.1 million in the year to date period of fiscal 2023. Adjusted operating income (2) was $102.8 million. The effective tax rate was 24.7% compared to 23.1% in the year to date period of fiscal 2023. Net income was $66.2 million compared to $98.9 million in the year to date period of fiscal 2023. Adjusted net income (2) was $85.5 million. Diluted income per common share was $1.20 compared to $1.78 in the year to date period of fiscal 2023. The benefit from share-based accounting was approximately $0.01 in the year to date period of fiscal 2024 compared to approximately $0.07 in the year to date period of fiscal 2023. Adjusted diluted income per common share (2) was $1.55. The Company repurchased approximately 267,000 shares in the year to date period of fiscal 2024 at a cost of approximately $40.0 million (2) A reconciliation of adjusted operating income, adjusted net income, and adjusted diluted income per common share to the most directly comparable financial measure presented in accordance with accounting principles generally accepted in the United States ("GAAP") is set forth in the schedule accompanying this release. See also “Non-GAAP Information." Appointment of Chief Executive Officer Five Below also announced today the appointment of Winnie Park to the role of Chief Executive Officer, effective December 16, 2024. Ken Bull, Chief Operating Officer, who was serving as Interim CEO, will continue in his role as COO, and Tom Vellios will remain Executive Chairman. This announcement was made concurrently this afternoon and can be found at investor.fivebelow.com/investors. Fourth Quarter and Fiscal 2024 Outlook: The Company expects the following results for the fourth quarter and full year fiscal 2024: For the fourth quarter of Fiscal 2024 : Net sales are expected to be in the range of $1.35 billion to $1.38 billion based on opening approximately 22 net new stores and assumes an approximate 3% to 5% decrease in comparable sales. Net income is expected to be in the range of $174 million to $184 million. Adjusted net income (3) is expected to be in the range of $179 million to $189 million. Diluted income per common share is expected to be in the range of $3.15 to $3.33 on approximately 55.3 million diluted weighted average shares outstanding. Adjusted diluted income per common share (3) is expected to be in the range of $3.23 to $3.41. (3) Adjusted net income and adjusted diluted income per common share exclude the impact of nonrecurring or non-cash items which includes retention awards, costs associated w it h cost -optimization initiatives and stock compensation benefits , net of income tax impacts. For the full year of Fiscal 2024 : Net sales are expected to be in the range of $3.84 billion to $3.87 billion based on opening approximately 227 net new stores and assumes an approximate 3% decrease in comparable sales. Net income is expected to be in the range of $240 million to $250 million. Adjusted net income (4) is expected to be in the range of $265 million to $275 million. Diluted income per common share is expected to be in the range of $4.34 to $4.52 on approximately 55.3 million diluted weighted average shares outstanding. Adjusted diluted income per common share (4) is expected to be in the range of $4.78 to $4.96. Gross capital expenditures are expected to be approximately $340 million in fiscal 2024. (4) Adjusted net income and adjusted diluted income per common share exclude the impact of nonrecurring or non-cash items which includes inventory write- off , ret ention awards , stock compensation benefits, costs associated with cost-optimization initiatives , settlement of employment-related litigation , and asset disposal, net of income tax impacts. Conference Call Information: A conference call to discuss the financial results for the third quarter of fiscal 2024 is scheduled for today, December 4, 2024, at 4:30 p.m. Eastern Time. A live audio webcast of the conference call will be available online at investor.fivebelow.com, where a replay will be available shortly after the conclusion of the call. Investors and analysts interested in participating in the call are invited to dial 412-902-6753 approximately 10 minutes prior to the start of the call. Non-GAAP Information: This press release includes adjusted operating income, adjusted net income, and adjusted diluted income per common share, each is a non-GAAP financial measure. The Company has reconciled these non-GAAP financial measures with the most directly comparable GAAP financial measures within this filing. The Company believes that these non-GAAP financial measures not only provide its management with comparable financial data for internal financial analysis but also provide meaningful supplemental information to investors. Specifically, these non-GAAP financial measures allow investors to better understand the performance of the Company's business and facilitate a meaningful evaluation of its quarterly and fiscal year 2024 diluted income per common share and actual results on a comparable basis with its quarterly and fiscal year 2023 results. In evaluating these non-GAAP financial measures, investors should be aware that in the future the Company may incur expenses that are the same as or similar to some of the adjustments in this filing. The Company's presentation of non-GAAP financial measures should not be construed to imply that its future results will be unaffected by any such adjustments. The Company has provided this information as a means to evaluate the results of its ongoing operations. Other companies in the Company's industry may calculate these items differently than it does. Each of these measures is not a measure of performance under GAAP and should not be considered as a substitute for the most directly comparable financial measures prepared in accordance with GAAP. Non-GAAP financial measures have limitations as analytical tools, and investors should not consider them in isolation or as a substitute for analysis of the Company's results as reported under GAAP. Forward-Looking Statements: This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as contained in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which reflect management's current views and estimates regarding the Company's industry, business strategy, goals and expectations concerning its market position, future operations, margins, profitability, capital expenditures, liquidity and capital resources, store count potential and other financial and operating information. Investors can identify these statements by the fact that they use words such as "anticipate," "assume," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "future" and similar terms and phrases. The Company cannot assure investors that future developments affecting the Company will be those that it has anticipated. Actual results may differ materially from these expectations due to risks related to disruption to the global supply chain, risks related to the Company's strategy and expansion plans, risks related to our ability to attract, retain, and integrate qualified executive talent, risks related to disruptions in our information technology systems and our ability to maintain and upgrade those systems, risks related to the inability to successfully implement our online retail operations, risks related to cyberattacks or other cyber incidents, risks related to increased usage of machine learning and other types of artificial intelligence in our business, and challenges with properly managing its use; risks related to our ability to select, obtain, distribute and market merchandise profitably, risks related to our reliance on merchandise manufactured outside of the United States, the availability of suitable new store locations and the dependence on the volume of traffic to our stores, risks related to changes in consumer preferences and economic conditions, risks related to increased operating costs, including wage rates, risks related to inflation and increasing commodity prices, risks related to potential systematic failure of the banking system in the United States or globally, risks related to extreme weather, pandemic outbreaks, global political events, war, terrorism or civil unrest (including any resulting store closures, damage, or loss of inventory), risks related to leasing, owning or building distribution centers, risks related to our ability to successfully manage inventory balance and inventory shrinkage, quality or safety concerns about the Company's merchandise, increased competition from other retailers including online retailers, risks related to the seasonality of our business, risks related to our ability to protect our brand name and other intellectual property, risks related to customers' payment methods, risks related to domestic and foreign trade restrictions including duties and tariffs affecting our domestic and foreign suppliers and increasing our costs, including, among others, the direct and indirect impact of current and potential tariffs imposed and proposed by the United States on foreign imports, risks associated with the restrictions imposed by our indebtedness on our current and future operations, the impact of changes in tax legislation and accounting standards and risks associated with leasing substantial amounts of space. For further details and a discussion of these risks and uncertainties, see the Company's periodic reports, including the annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K, filed with or furnished to the Securities and Exchange Commission and available at www.sec.gov. If one or more of these risks or uncertainties materialize, or if any of the Company's assumptions prove incorrect, the Company's actual results may vary in material respects from those projected in these forward-looking statements. Any forward-looking statement made by the Company in this news release speaks only as of the date on which the Company makes it. Factors or events that could cause the Company's actual results to differ may emerge from time to time, and it is not possible for the Company to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws. About Five Below: Five Below is a leading high-growth value retailer offering trend-right, high-quality products loved by teens and pre-teens. We believe life is better when customers are free to "let go & have fun" in an amazing experience filled with unlimited possibilities. With most items priced between $1 and $5, and some extreme value items priced beyond $5 in our incredible Five Beyond shop, Five Below makes it easy to say YES! to the newest, coolest stuff across eight awesome Five Below worlds: Style, Room, Sports, Tech, Create, Party, Candy and New & Now. Founded in 2002 and headquartered in Philadelphia, Pennsylvania, Five Below today has over 1,750 stores in 44 states. For more information, please visit www.fivebelow.com or find Five Below on Instagram, TikTok, and Facebook @FiveBelow. Investor Contact: Five Below, Inc. Christiane Pelz Vice President, Investor Relations 215-207-2658 InvestorRelations@fivebelow.com (5) Gross profit is equal to our net sales less our cost of goods sold . ( 6 ) Retention awards relate to the on-going expense recognition of cash and equity granted to certain individuals in fiscal 2024 during the CEO transition that will be earned and have vestings through fiscal 2026. ( 7 ) Represents c harges relate d to the cos t-optimization of certain functions . ( 8 ) Components may not add to total due to rounding.Detroit Mercy defeats Purdue Fort Wayne 79-78