Latest news with #JeffNewton
Yahoo
26-05-2025
- General
- Yahoo
Memorial Day ceremony in Spanish Fort honors fallen heroes
SPANISH FORT, Ala. (WKRG) — The Alabama Department of Veterans Affairs honored fallen service members Monday morning with a ceremony at the Alabama State Veterans Memorial Cemetery in Spanish Fort. Mobile County jury awards man $6 million after 2022 tractor trailer crash Attendees recognized the sacrifices of men and women who died defending American liberties. The ceremony featured a wreath-laying, a flag-folding, a moment of silence, a rifle volley, the playing of Taps, and an Honor Guard salute. American flags, placed by local Cub Scouts and Boy Scouts of America, were on display at all Alabama veterans' graves. USS Alabama Battleship Memorial Park Executive Director CDR Mark K. Fields, (Ret.) U.S. Navy, delivered the keynote address. ADVA Commissioner Jeff Newton also spoke during the event. 'We are privileged to host this solemn event at the Alabama State Veterans Memorial Cemetery in Spanish Fort, a place that symbolizes the service and sacrifice of so many courageous Alabamians,' Newton said. 'Memorial Day is a time for reflection and gratitude, and we thank all Alabamians who honor those who gave their lives for our country's freedom.' Locals, tourists flock to Gulf Shores for Memorial Day getaway The ADVA held the ceremony as part of broader Memorial Day observations taking place across Alabama and the United States. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
07-05-2025
- Politics
- Yahoo
Orange, Osceola boards rebuff Split Oak Forest defenders' last-ditch pleas
Defenders of Split Oak Forest tried but failed Tuesday to persuade Orange County government to take legal action to halt construction of a toll road through the public land's southern wedge. Forest advocates insist Orange County has grounds to oppose the highway, even though it sits solely in the Osceola County portion of the preserve. County lawyers say they don't. Without a lawsuit to stop it, the Central Florida Expressway Authority seems set on its preferred route to run a 1.3-mile leg of the Osceola County Parkway through the forest. CFX already has planted stakes outlining the path, and on Monday Osceola County commissioners approved the plan. The Orange and Osceola meetings marked the apparent, anti-climactic conclusion of one of Central Florida's biggest environmental battles in recent years, one that pitted environmentalists against state road builders and the developers whose land will be served by the project. The Florida Fish and Wildlife Conservation Commission approved the highway cut-through in a closely-watched vote almost exactly a year ago, but the Save Split Oak contingent vowed not to give up the fight. Toll road approved to cut through Split Oak Forest Nearly two dozen supporters of the forest turned out Tuesday to plead with Orange County to intercede. They argued that Osceola County's deal with CFX violates the original pact signed in the 1990's by Orange and Osceola counties to buy the 1,689-acre forest, now considered vital habitat for gopher tortoises and other endangered species. But Orange County Attorney Jeff Newton says the county has no say because CFX will use land only in Osceola. 'This board and the citizens and voters of Orange County could not vote to restrict or regulate any lands in Osceola County,' he explained to a crowd in Orange County Commission chambers. 'They don't have the jurisdiction to do so.' Orange County owns 1,004 acres of the forest. Osceola owns the other 685. Orange County Commissioner Kelly Martinez Semrad wanted the county — either through Newton's office or outside counsel — to seek an injunction to stop the project, insisting the entire forest would be harmed by the intrusion across Osceola's segment. 'It's not just about what happens on Osceola's part of the forest,' she said. Orange County Mayor Jerry Demings said the board has thoroughly vetted the issue through a series of meetings and agreements last year. 'I do believe Orange County has taken appropriate action to protect the portion of Split Oak that Orange County owns,' he said. In their Monday meeting, Osceola County commissioners approved the agreement with CFX without discussion. The 11-page document spells out Osceola's duty to release its conservation easement to the road builders. Only a few people attended the meeting. Two held signs that read 'hands off our nature.' 'I just think this is horrible so I had to come,' said Linda Chastain, who sat in the second row of the commission chambers. 'I heard about this being on Osceola's agenda last minute so I had to rush over here.' She attended Orange County's meeting, too, occasionally waving a multi-colored sign that read, 'PROTECT NATURE SERIOUSLY…IT'S UP TO YOU!' But even Semrad — elected last year after promising to continue the fight — could muster little hope by the meeting's end. She listed possible legal issues the county could pursue but added, 'Or is it time for us to just say to the people, 'We've got no shot here. You've lost.' ' shudak@
Yahoo
06-02-2025
- Business
- Yahoo
Twin Disc Inc (TWIN) Q2 2025 Earnings Call Highlights: Strong Revenue Growth Amid Profitability ...
Revenue: $89.3 million, a 23.2% year-over-year increase. Net Income: $900,000 or $0.07 per diluted share, compared to a net loss of $900,000 or $0.07 per diluted share in the prior year. Gross Profit Margin: Decreased to 24.1% from 28.3% in the prior year period. Gross Profit: Increased 5% to $21.7 million. EBITDA: Increased to $6.3 million, up 13.5% compared to the prior year. Operating Cash Flow: $4.3 million generated in the quarter. Net Debt: Increased $12.3 million to $9 million in the quarter. Cash Balance: $15.9 million, 24.3% lower than the prior year. Marine Propulsion Sales Growth: 23.9% year-over-year increase. Land-Based Transmission Sales Growth: 19.8% year-over-year increase. Industrial Segment Growth: 44.8% year-over-year increase. Warning! GuruFocus has detected 6 Warning Sign with VSH. Release Date: February 05, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Twin Disc Inc (NASDAQ:TWIN) reported a strong double-digit sales growth of 23.2% year over year, reaching $89.3 million for the second quarter. The integration of Katsa Oy has expanded Twin Disc Inc (NASDAQ:TWIN)'s global footprint and engineering capabilities, particularly in Europe and North America. The marine propulsion segment saw a 23.9% year-over-year sales increase, driven by strong demand for Veth products in both commercial applications and the luxury yacht market. The industrial segment grew 44.8% year over year, supported by the addition of Katsa and a rebound in Lufkin orders. Twin Disc Inc (NASDAQ:TWIN) maintained a healthy backlog across all end markets, indicating sustained demand and order momentum. Gross profit margin decreased to 24.1% from 28.3% in the prior year period, impacted by inventory write-downs and unfavorable product mix. Net income was only $900,000 or $0.07 per diluted share, compared to a net loss in the previous year, but still reflects challenges in profitability. Oil and gas exports were down, contributing to a 24% decline in the oil and gas business compared to the prior year. Net debt increased by $12.3 million to $9 million, primarily due to the cost of acquisition. Cash balance decreased by 24.3% compared to the prior year, reflecting financial pressures despite strong operating cash generation. Q: Can you quantify how much your oil and gas business was this quarter and how much it was down year-over-year? A: The oil and gas business was about a little under 8% of revenue for the quarter and down about 24% compared to the prior year Q2. - Jeff Newton, CFO Q: Is the quoting activity in the oil and gas sector primarily from North America or Asia? A: It's both North America and Asia, with some activity also from South America. - Jeff Newton, CFO Q: Are you seeing oil and gas customers getting back to work in light of the change in administration? A: It's a bit early to say definitively, but we have seen an increased level of activity and some new potential projects, indicating a renewed level of activity in that market. - Jeff Newton, CFO Q: Can you refresh your CapEx outlook for the year and your free cash flow conversion target? A: We are targeting to convert 60% of EBITDA to free cash flow, though it might be a stretch this year due to a difficult Q1. CapEx is expected to be in the range of $12 to $14 million, with some larger projects in the second half of the year. - Jeff Newton, CFO Q: Are there any R&D projects being commercialized this year that will contribute to growth? A: We are not ready to discuss specific new products, but we continue to focus on the hybrid electric market, which is a significant growth area for us. - Jeff Newton, CFO Q: Any updates on the electric frac fleet pilot project? A: The project is stable and ongoing, but there is nothing newsworthy to report this quarter. - Jeff Newton, CFO For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
