Latest news with #Hostetler
Yahoo
20-05-2025
- Business
- Yahoo
'We can't do it alone': Garrett hopes for help as state teams survey flood-hit areas in precursor to possible aid
GARRETT, Pa. – Don Hostetler's family bar survived Prohibition and generations of change in Garrett. On Monday, Hostetler was trying to figure out how Dub's Bar and Grill will survive four feet of floodwater from Buffalo Creek. 'I'm going to have to gut everything inside here,' Hostetler said, gesturing toward water-stained wood paneling in the bar. Hostetler and co-owner Tammy Miller were far from alone. The Garrett bar is among a half-dozen commercial businesses, in addition to dozens of homes, that have reported first-floor damage caused by last Tuesday's flooding in southern Somerset County, according to county emergency management officials. Whether the property owners get a significant amount of the help they are seeking could depend on the combined results from the 51 properties – and on property visits that were underway Monday in hard-hit areas, including Garrett's Pine Street neighborhood and Mount Davis Road in Meyersdale. PHOTO GALLERY | Flooding Cleanup | Garrett Borough | Somerset County Staff from Somerset County's and Pennsylvania's emergency management agencies and the state's Small Business Administration were walking door to door, documenting high-water marks and other signs of first-floor flooding. According to Somerset County Emergency Management Director Joel Landis, the Small Business Administration's findings will likely determine whether a broad spectrum of government support could be unlocked for disaster areas such as Meyersdale, Garrett and Elk Lick Township. That includes low-interest Small Business Administration repair loans, which are only available if disasters inflict damage to the first floors of at least 25 homes or businesses, he said. And there is a set damage threshold that must be met to qualify each residence, Landis and Deputy Director Kevin Broadwater added. 'It's not always simple. Sometimes people have a different view of 'damage' than what we do,' Broadwater added. The American Red Cross reported Monday that its disaster response team has already provided emergency recovery relief to approximately 80 people whose property damage met its own support criteria. But the goal is to provide layers of support – whether it's local, state, federal or charity groups – to give hard-hit Somerset County residents as many chances as possible at getting help, Landis said. That could be a big benefit for Hostetler, who is the second generation in his family to operate Dub's. He was still sorting out how he'll rebound from last week's devastation. He estimated that $30,000 in commercial kitchen equipment was destroyed. The losses extend far beyond the old bar itself, a onetime speakeasy that his father later bought in the 1970s. His entire inventory of food and beer had to be discarded, he said. 'If I can get at least some help with the (building), I'd absolutely be interested,' Hostetler said. There's no doubt there are many more people who need help, too, Garrett Borough Mayor Donald 'Butch' Walker said. After a Casselman River tributary spilled its banks last week, Walker said borough staffers immediately started contacting haulers to get as many dumpsters as they could find to help people begin clearing out their mud-soaked homes. But there's only so much a borough of 415 residents with a $400,000 operating budget can do, he said. 'We're doing whatever we can to get them help,' he added, 'but we can't do it alone.' Nearby, Zac Cooney and his wife, Autumn, were sitting inside a garage that just five days earlier was flooded by knee-deep water. The flood washed out their furnace, swept up tools and carried their picnic bench two blocks down to Garrett's Walker Street underpass, he said. Some of their belongings are 'probably gone for good,' Cooney said, leaning against his side-by-side utility vehicle. It's too soon to know how they'll replace it all, Cooney said. But it's all just material goods, he added. Their two sons, ages 2 and 3, were playing nearby – and unharmed by the disaster. 'They are what matters,' Cooney said.
Yahoo
20-05-2025
- Business
- Yahoo
ARRY Q1 Earnings Call: Revenue Beats Expectations, Margin and Cash Flow Pressures Persist
Solar tracking systems manufacturer Array (NASDAQ:ARRY) reported revenue ahead of Wall Street's expectations in Q1 CY2025, with sales up 97.1% year on year to $302.4 million. The company's full-year revenue guidance of $1.1 billion at the midpoint came in 0.6% above analysts' estimates. Its non-GAAP loss of $0.01 per share was significantly below analysts' consensus estimates. Is now the time to buy ARRY? Find out in our full research report (it's free). Revenue: $302.4 million vs analyst estimates of $264.6 million (97.1% year-on-year growth, 14.3% beat) Adjusted EPS: -$0.01 vs analyst estimates of $0.09 (significant miss) Adjusted EBITDA: $20.11 million vs analyst estimates of $32 million (6.7% margin, 37.2% miss) The company reconfirmed its revenue guidance for the full year of $1.1 billion at the midpoint Management reiterated its full-year Adjusted EPS guidance of $0.65 at the midpoint EBITDA guidance for the full year is $190 million at the midpoint, above analyst estimates of $186.1 million Operating Margin: 9%, up from 5.5% in the same quarter last year Free Cash Flow was -$15.41 million, down from $45.12 million in the same quarter last year Sales Volumes rose 82.8% year on year (-42.7% in the same quarter last year) Market Capitalization: $1.17 billion Array's first quarter results were shaped by exceptional sales volume growth and a continued recovery in market share, with management crediting disciplined execution and robust customer demand as key factors. CEO Kevin Hostetler pointed to a 143% increase in shipped volumes compared to last year and emphasized the company's ability to navigate ongoing regulatory and policy uncertainty, particularly surrounding tariffs and the Inflation Reduction Act. Hostetler underscored that "our order book is resilient," highlighting Array's operational agility and product traction, especially with recently launched offerings like OmniTrack and SkyLink. Looking ahead, management is maintaining its full-year guidance, attributing their confidence to the company's strong backlog and customer commitments. Hostetler noted that approximately 75% of 2025 domestic deliveries are for projects with U.S.-manufactured panels or those already in the country, reducing near-term supply risks. CFO Keith Jennings reiterated that the company's liquidity position and extended credit facility provide flexibility amid market volatility. However, management acknowledged continued uncertainty in international markets, particularly Brazil, and the potential for project delays if policy clarity remains elusive. Array's management identified volume acceleration, product adoption, and effective supply chain planning as primary drivers of the first quarter's performance. Forward-looking commentary focused on product innovation and managing policy-related headwinds. Sales Volume Recovery: Shipped volumes grew 143% year over year, as management attributed gains to improved customer engagement and the delivery of previously delayed projects. Product Portfolio Expansion: Newer products like OmniTrack and SkyLink accounted for a growing share of revenue and bookings, with OmniTrack expected to represent roughly 30% of 2025 deliveries. Management emphasized these products' adaptability and appeal in both domestic and international markets. Tariff and Supply Chain Management: The company highlighted its high proportion of domestically sourced materials—over 93% for U.S. projects—and contractual structures that allow tariff costs to be passed to customers. This has limited the financial impact of recent trade policy changes. Order Book Stability: The order book remained at $2 billion, with over 40% of it scheduled for delivery in the rest of 2025. Management reported positive customer feedback and a solid project win rate, despite broader industry uncertainty. International Market Challenges: Management cited slowed growth in Brazil due to currency devaluation and new tariffs, while noting steady performance in Europe and early-stage opportunities in the Middle East. These dynamics are expected to persist for several quarters. Management's outlook for the coming quarters hinges on sustained demand for utility-scale solar, the ability to mitigate policy and supply chain risks, and the continued adoption of new products. Domestic Policy Clarity: Forward guidance depends heavily on the resolution of uncertainties surrounding U.S. tariffs and potential changes to the Inflation Reduction Act. Management believes clarity could accelerate customer orders and project timelines. Innovation and Product Adoption: The company expects new product offerings—particularly OmniTrack and SkyLink—to underpin growth and margin improvement, as these solutions address customer needs for installation flexibility and extreme weather resilience. International Volatility: Exposure to foreign markets, especially Brazil, represents a risk due to fluctuating currency values, shifting tariffs, and evolving regulatory conditions. Management is closely monitoring these trends and adapting strategy as needed. Mark Strouse (J.P. Morgan): Asked about customer interest in long-term value commitment agreements (VCAs) and whether new metrics would be reported. Management clarified VCAs are under discussion but no additional metrics are planned, prioritizing defined project delivery timelines in order book disclosures. Colin Rusch (Oppenheimer & Co.): Inquired about changes in order size and project lead times. CEO Hostetler responded that lead times remain competitive at 14 weeks, but customers are waiting for policy clarity before finalizing orders, although underlying demand remains robust. David Benjamin (Mizuho Securities): Asked about cash deployment and debt reduction plans. CFO Jennings noted the revolving credit facility extension and emphasized maintaining liquidity, while evaluating options for debt management and potential strategic investments. Luke Anneser (Piper Sandler): Sought clarity on whether uncertainty is driven more by tariffs or the Inflation Reduction Act. Hostetler said both factors are causing hesitation for projects beyond 2025, with customers seeking rapid responses once policies are settled. Phillip Shen (ROTH MKM): Questioned exposure to projects affected by U.S. tariffs on battery cells. Hostetler stated that most 2025 projects are shielded by having necessary components already in-country, with customers committed to current schedules. In the coming quarters, the StockStory team will monitor (1) progress on resolving U.S. policy and tariff uncertainties, as any clarity could prompt a surge in bookings; (2) adoption rates and commercial impact of new product platforms like OmniTrack and SkyLink; and (3) the company's ability to navigate challenges in international markets, particularly Brazil. Execution on supply chain flexibility and margin stabilization will also be important indicators of operational success. Array currently trades at a forward P/E ratio of 11.9×. Should you double down or take your chips? The answer lies in our free research report. The market surged in 2024 and reached record highs after Donald Trump's presidential victory in November, but questions about new economic policies are adding much uncertainty for 2025. While the crowd speculates what might happen next, we're homing in on the companies that can succeed regardless of the political or macroeconomic environment. Put yourself in the driver's seat and build a durable portfolio by checking out our Top 5 Strong Momentum Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 176% over the last five years. Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Comfort Systems (+782% five-year return). Find your next big winner with StockStory today.
Yahoo
18-03-2025
- General
- Yahoo
'Just blown away:' Friends, family, strangers join to support Reed Hostetler family
In the days following Reed Hostetler's funeral, his family remains overwhelmed by the outpouring of support from the community. Hostetler, 31, died March 5 after the tractor he was operating overturned into a manure pit at his family's dairy farm on Fulton Road near Marshallville. His wife, Abby Hostetler, said the response from friends, family and even strangers has been 'mind-boggling.' 'We are just blown away by the way people rallied around us,' she said. 'We had people clearing the driveway, cleaning the barn, bringing food and even folding laundry. The Wayne County agricultural community showed up in ways we never expected. We had a line of tractors parked as a tribute to Reed, and that just meant so much. There were many people who showed up to help care for the farm and the animals.' More: Hostetler takes long hike before heading back to farm Following the accident, a family friend created a GoFundMe campaign to assist the Hostetlers. Abby Hostetler said there was no initial financial goal, but donations have far exceeded anything she imagined. 'My friend asked if he could set it up because people wanted to help, and I said sure,' she said. 'It has just grown exponentially. Someone told me it's a blessing to see that the way Reed lived his life is still making sure his kids are provided for, even in his death.' The funds will help support Abby Hostetler and the couple's three children, Baer, Claire and Axe. Reed Hostetler's funeral was held in the barn where he grew up, worked and later married his wife. The decision to hold services there felt natural, Abby Hostetler said, but it required extensive preparation. 'This is a working dairy farm, so a lot had to be done to accommodate people,' she said. 'We didn't even realize everything that was happening behind the scenes. Someone brought in portable restrooms, something I didn't even think of. Others handled parking, and the sheriff's department helped with traffic. It was truly a community effort.' The outpouring of support has reinforced the Hostetler family's commitment to helping others when the need arises. 'It really makes me know that in the future, when somebody else in our community needs help, I will show up,' Abby Hostetler said. While still processing their loss, the Hostetlers already are thinking about how to prevent similar tragedies. Abby Hostelter hopes their experience encourages farmers to take a closer look at safety practices. 'We can't say for sure what happened, but I do know that Reed was very safety-conscious, and still, something happened,' she said. 'I want to make sure that everyone in the farming and agricultural community takes a step back and evaluates their farm and processes to ensure they're as safe as possible.' For now, the family is taking things day by day and finding strength in the kindness of those around them. 'The amount of love and support we've received is overwhelming,' Abby Hostetler said. 'We keep saying thank you doesn't feel like enough, but it's all we have to give right now.' This article originally appeared on The Daily Record: Marshallville area supports Reed Hostetler family after tragic loss
Yahoo
19-02-2025
- Health
- Yahoo
Local pharmacy said U.S.P.S. delays are causing issues with mailing medications
BRAZIL, Ind. (WTWO/WAWV) — A local pharmacy said delays with U.S.P.S. have been causing issues with mailing medications. Lynn's Pharmacy in Brazil has a group of customers that do not drive. Instead, they have their medications mailed to them. The pharmacy said these customers have not received medication in more than 20 days because they are stuck in Indianapolis amid reports of issues at the new postal hub. Pharmacy owner Lynn Hostetler said he has been mailing medications for more than 50 years and it has never been this bad. Donation has lasting effect on Special Olympics one year after NBA All-Star event 'I'm totally frustrated because I have used the post office for 50-60 years and I have never seen anything like this,' said Hostetler. 'It used to be that the post office was ultra reliable and trustworthy. The local people are, but the bureaucracy is not.' We reached out to U.S.P.S and reached no comment about the situation. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
