Latest news with #Warnick
Yahoo
07-05-2025
- Politics
- Yahoo
WA wildlife crop damage law signed
May 7—OLYMPIA — In a move to support farmers in less densely populated areas, the Washington State Legislature unanimously passed Senate Bill 5165, which aims to provide compensation for damage to commercial crops caused by wild deer and elk in designated frontier one counties. The bill, now signed into law by Gov. Bob Ferguson, is set to take effect July 27, 2025. The bill, sponsored by Senators Judy Warnick, R-Moses Lake; Shelly Short, R-Addy; Mike Chapman, D-Port Angeles; Perry Dozier, R-Walla Walla, and Keith Wagoner, R-Sedro Woolley, allocates a minimum of 20% of available funds specifically for claims arising from frontier one counties — areas with a population density of 20 people or fewer per square mile. As of 2024, Adams County was considered a frontier one county. "We all appreciate the rich wildlife in our state, but we also must protect our farmers, who face real challenges from these animals," said Warnick. "Deer and elk can cause extensive damage to crops, which affects not just the farmers' livelihoods but also the agricultural economy at large in these frontier areas." The bill outlines that, to be eligible for compensation, commercial crop owners must have grown or produced agricultural products valued at over $10,000 in the previous year or be in their first year of agricultural production. They must also demonstrate efforts to prevent wildlife damage. Compensation for claims will only be issued if the assessed damage equals or exceeds $1,000, according to guidelines set by the Washington State Fish and Wildlife Commission. The passage of the bill marks a step in addressing the unique challenges faced by farmers in Washington's rural regions, Warnick said. The law emphasizes the need for a valid damage prevention cooperative agreement with the Washington Department of Fish and Wildlife. It also sets a requirement for a licensed crop insurance adjuster to assess damages incurred. "The overwhelming bipartisan support for this legislation demonstrates our commitment to safeguarding our farmers," Warnick said. "It passed with 48 to zero votes in the Senate and received 96 votes in favor in the House. This shows a clear consensus on the importance of providing financial support to those who are genuinely affected by wildlife interactions." As of 2024, the designated frontier one counties include Pend Oreille, Stevens, Ferry, Okanogan, Lincoln, Adams, Columbia, Garfield, Klickitat, Skamania, Jefferson and Wahkiakum. These counties have been significantly impacted by wildlife damage, especially in terms of agricultural output. According to Warnick, farmers in these areas, including her own district, have expressed challenges with deer and elk damaging crops, thereby incentivizing the need for legislative action. "We recognize that some farmers may find it difficult to navigate the application process for compensation; we're working to assist them in proving the damage. I hope this bill simplifies that process," she said. "Photos and documentation will play a vital role in ensuring claims are processed efficiently." Moreover, while SB 5165 focuses on frontier one counties, there is discussion about eventually expanding the benefits to frontier two counties, those with populations ranging from 21 to 50 people per square mile. As of 2024, Clallam, Grays Harbor, Pacific, Lewis, Chelan, Kittitas, Douglas, Grant, Walla Walla, Whitman and Asotin counties were designated frontier two counties. Such an extension, as Warnick noted, would depend significantly on future funding availability. "The vision is to eventually include those frontier two counties, too, ensuring all farmers impacted by wildlife have similar protections," she said. "But for now, we're addressing the urgent needs of our frontier one farmers effectively."
Yahoo
02-05-2025
- Business
- Yahoo
April earnings update: Robinhood, Sleep Number, Starbucks, Ally Financial and State Street
This story was originally published on To receive daily news and insights, subscribe to our free daily newsletter. Earnings calls, loved by some CFOs and dreaded by others, allow finance leaders and their fellow executives to verbalize their organization's progress. Each month, compiles interesting insights shared by CFOs during these calls for The CFO Earnings Dispatch series. These insights include statements about their company, analysis of financial data and answers to analysts' questions. For April, we highlight CFO takes from Robinhood, Sleep Number, Starbucks, Ally Financial, State Street, First Industry Realty Trust, Independent Bank, Fastenal and Guaranty Bancshares. Market cap: $41.55 billion Date of call: April 30 As markets continue to be volatile, Robinhood CFO Jason Warnick said retail investor engagement remained strong throughout April. He gave credit to product diversification in areas like retirement, crypto and advisory strategies for expanding customer asset allocation and sustaining momentum beyond the first quarter. 'And what's different about us today than perhaps a few years ago is, there's just a lot more options for customers to place their assets,' Warnick said. 'Whether it's the growth in retirement, the nascent growth in strategies, certainly brokerage, we're also seeing it go into crypto. So I'd say that there's a pretty broad-based strength of retail engagement that we're seeing, and all signs are positive throughout the month of April.' Market cap: $184.12 million Date of call: April 30 While announcing a 16% year-over-year drop in revenue alongside a brand new CEO, Sleep Number CFO Francis Lee outlined a sweeping cost reduction plan totaling between $80–$100 million annually. He detailed how the plan includes fixed cost cuts in research and development and general and administrative expenses, a restructured marketing model and supply chain adjustments to offset up to $17 million in potential 2025 tariff impacts. He also said his goals during this process are preserving the company's liquidity while managing debt 'without diluting current shareholders.' 'While we have hard work ahead, we are taking necessary actions now to position the company for a return to growth and profit flow-through in the future,' Lee said. 'You can expect us to be bold in our actions as we take a closer look at our strategy and operations. Our focus on growing profitability and paying down debt remains unwavering. We are committed to creating value for our shareholders in a brand-accretive, profitable and sustainable way over the long term.' Market cap: $93.15 billion Date of call: April 29 In her first earnings call with the company, Starbucks CFO Cathy Smith acknowledged the company's underwhelming Q2 performance, with the operating margin dropping by 450 basis points and earnings per share falling 38% year-over-year. Despite the pressure, she expressed confidence in the company's turnaround strategy, pointing to early operational wins and a disciplined approach to testing and scaling improvements under the 'Back to Starbucks' plan. 'While our financial results are far from Starbucks' potential, I am confident we have the right strategy and are starting to see early evidence and leading indicators,' said Smith. 'We are building new muscles to test, iterate and scale quickly, all while focused on customers and listening to partners. I want to thank our partners who are dedicated to bringing our Back to Starbucks strategy to life." Market cap: $2.56 billion Date of call: April 24 Even with tougher competition and some rate curve volatility, Independent Bank CFO Mark Ruggiero told analysts the bank isn't chasing volume with aggressive loan pricing. He noted deals are landing in the mid-6% range, but the team is staying focused on keeping margins steady. 'Yeah, it definitely is competitive out there… we're trying to hold the line on pricing. For the first quarter, we saw a blended weighted average coupon in the 6.60% to 6.70% range,' said Ruggiero. 'The five- and seven-year part of the curve has been on a bit of a roller coaster, so we're working to maintain some stability in overall pricing. Right now, you're probably seeing deals priced more in the mid-sixes, maybe even a little tighter. Given our appetite to keep loan demand in check, we're going to stay as disciplined as we can on pricing. We've never been a bank that leads with price.' Market cap: $9.96 billion Date of call: April 17 Ally Financial CFO Russ Hutchinson said the company took a $495 million hit on low-yielding securities to reinvest that money at better market rates — a move he says is aimed at boosting net interest margin and reducing rate risk over time. He also reported $58 million in weather-related losses, the highest first-quarter total in Ally's history. Despite these insurance headwinds and the ongoing problems in the auto loan market, Hutchinson said Ally is still on track to reach its mid-teens return on equity goal. 'These securities portfolio repositionings have helped us to reduce interest rate risk, be marginally less liability sensitive, and protect against volatility in tangible book value. Taken together, with the sale of [the company's credit card business] and these securities repositionings, we expect our continued earnings expansion to support our continued investment in the growth of our core franchises and eventual share repurchases,' Hutchinson said. 'At this point, we are not expecting additional securities transactions. We believe that we have addressed the areas of the portfolio that offer the most compelling combination of risk mitigation and net interest margin benefit.' Market cap: $25.73 billion Date of call: April 17 When asked by an analyst how much of the company's expenses are variable over a one- to two-year period, State Street's interim CFO Mark Keating said the organization has become more agile in addressing this thanks to ongoing transformation and automation efforts. While he avoided giving a specific percentage, Keating said the company has significantly improved its ability to flex expenses alongside revenue shifts. 'I wouldn't want to necessarily put a pin on it, [but] if you think about how our organization is structured, with people, headcount and occupancy — I think your number, somewhere around two-thirds, is in the ballpark. I wouldn't want to put a specific number on it. What I would say is we've gotten better at being able, as [our CEO] said, to flex our expense base through the transformation we've been doing, driving product automation. So we've built more flexibility into our cost base to adjust to different revenue scenarios.' Market cap: $6.38 billion Date of call: April 17 Scott Musil, CFO of First Industrial Realty Trust, said the company extended several credit facilities to push out its debt timeline and give itself more room to operate. With no major maturities until 2027, he says the company is in a solid spot to keep investing in development and ride out any rate swings. 'We renewed and upsized our senior unsecured revolving credit facility by $100 million, bringing the total commitment to $850 million, and extended the maturity to March 2030,' Musil. 'We also renewed our $200 million unsecured term loan, with extension options that could push its maturity to 2030. In addition, we exercised a one-year extension option on our $300 million term loan, moving its maturity to August 2026, with another extension option still available. After these transactions — assuming we exercise that remaining option — our next debt maturity doesn't occur until 2027.' Market cap: $46.57 billion Date of call: April 11 On his final earnings call after nearly nine years in the role, Fastenal CFO Holden Lewis opened with a personal message to colleagues, investors and his CEO Dan Florness, reflecting on his experience as an 'unorthodox hire' (Lewis was an equity researcher prior to his CFO position). His remarks came as Fastenal reported a 3.4% increase in first-quarter sales — the strongest daily sales rate since mid-2023. 'Before digging into the results for what will be my final call, I did want to mention a few things,' said Lewis. 'First, to Dan, who nearly nine years ago took a chance on a relatively unorthodox hire, it's been an unbelievable experience working with a great leader. I've truly enjoyed being your partner in this.' 'I know I got this opportunity in part because of my outsider's perspective, but you challenged me to earn your trust and respect, and you deserve that,' said Lewis. 'I've tried to do that for nine years, and it wouldn't have been possible without your passion for learning, teaching and collaboration — the foundation of our culture. I've surely enjoyed being your CFO, and I couldn't ask for 24,000 better friends. And to our investors, you probably don't realize how often I've used your observations, perspectives and questions in my own work here. For that, I thank you.' Market cap: $443.65 million Date of call: April 21 Guaranty Bancshares CFO Shalene Jacobson said the bank is keeping its loan loss reserves elevated, even though credit quality remains solid. The bank doesn't expect to increase reserves, but isn't ready to lower them just yet. 'We have kept our qualitative factors at elevated levels because we wanted to be more conservative,' Jacobson said. 'Each time we started thinking about unwinding some of those economic factors, a new event would happen. It started with COVID, then the bank failures, then the election and now tariff uncertainties. So we've kept those factors elevated instead of reducing them like some of our peers. At some point, if we start getting more certainty, we'll look at unwinding them a bit. Like [our CEO] said, we don't anticipate increasing them.' Recommended Reading The CFO Earnings Dispatch Sign in to access your portfolio
Yahoo
02-05-2025
- Business
- Yahoo
Robinhood Markets (HOOD) Thrives on Trump's Trade War Turmoil in Q1
If Wednesday's after-hours reaction is any indicator, Robinhood Markets (HOOD) bulls are a little disappointed. Heading into the first-quarter earnings report, options markets implied a move of much more than the 1.57% notched by the fintech stock. Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter. Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox. Not to be lost in the dejection of the stock's docile response to the earnings report is the fact that Robinhood's revenue of $927 million and earnings per share (EPS) of 37 cents beat Wall Street estimates as total platform assets surged 70% year-over-year to $221 billion. That marks the eighth time in the last nine quarters that Robinhood beat analysts' EPS forecasts. With market volatility elevated, I maintain a bullish position on HOOD stock. So, despite the muted response late Wednesday, it's fair to say Robinhood delivered a solid quarter. Data confirm the brokerage firm wasn't adversely affected by tariff-induced volatility in Q1. In fact, it's benefiting from elevated market turbulence, and that theme is extending into the current quarter. 'Trading volumes and net deposits were incredibly strong for the quarter and in April,' said CFO Jason Warnick on a conference call with analysts. Arguably, Robinhood is the new kid on the block in brokerage. Weilding a cavalier name that underpins its market angle of appealing to investors with ultra-low fees and leveling the playing field between retail and professional investors. The company is a financial technology (fintech) name, up 105% over the past six months, with a market capitalization of $43.33 billion. It is three months away from celebrating its fourth anniversary as a public company. Indeed, Robinhood isn't a value stock in the strictest sense of the term, but management does see value in the shares as highlighted by buyback activity and expansion of that effort. The company said Wednesday that it's adding $500 million to a previously announced repurchase program, elevating that total to $1.5 billion. Robinhood is following through on its pledge to reduce its shares outstanding, and equally important to following through on buyback pledges is the point that the company is getting good value when it executes buybacks. 'You'll recall we began executing on our $1 billion share repurchase plan in Q3 last year, with target completion over two to three years. Since then, we've moved faster and have deployed over $650 million at an average price of $33 per share,' said Warnick on Robinhood's earnings call. 'This includes over $300 million of buybacks in Q1, which more than offset share issuance for TradePMR.' When it comes to funding shareholder rewards, it helps to have a strong balance sheet, which Robinhood does, potentially indicating it's not a candidate to take on debt in the name of buying back stock. Robinhood is often considered a crypto-correlated stock, or at least, crypto-adjacent. So with bitcoin's price action surprisingly flat since the start of the year, it'd be reasonable to assume that side of the business was a drag on the trading platform's first-quarter results. That wasn't the case. Robinhood posted $260 million in cryptocurrency revenue in the first three months of 2025, representing the second-best stretch in recent memory. For those that insist on viewing Robinhood as crypto-correlated and viewing that as a negative, altered thinking might be in order because bitcoin prices are perking up this month, and the long-term outlook remains bullish. 'We're diversifying the business outside of the crypto business, which will make us less reliant on crypto transaction volumes. But also within crypto, there's going to be diversification over time,' said CEO Vlad Tenev on the conference call. 'So crypto itself will diversify and be less reliant on transaction volumes in the future.' Fintech or not, Robinhood is, at its core, a financial services company, meaning the more assets that come in the door, the better. Robinhood Gold is proving to be a vital part of the company's broader flywheel. Clearly, the 3% IRA Match is one reason why Robinhood Gold subscribers surged by 1.5 million, or 90%, to 3.2 million in the first quarter. Gold isn't free. It costs $5 a month, and while that doesn't sound like much (it's not), it adds up, as highlighted by a 39% year-over-year increase in average revenue per user to $145. The offering is also a catalyst for monthly average user, a metric with the runway to return to 2021 highs. On Wall Street, HOOD stock carries a Moderate Buy consensus rating based on 13 Buy, six Hold, and zero Sell ratings over the past three months. HOOD's average price target of $61.82 implies almost 26% upside potential over the next twelve months. Robinhood is a trailblazing stock that has earned its place at the financial top table. Offering professional investment access to the retail crowd, especially during intense market volatility, has bolstered the company's coffers and valuation. The stock is up almost 400% since 2022. Supported by earnings and top-line growth, a fortress of a balance sheet, share repurchases, and a rapidly diversifying revenue stream, Robinhood has all the hallmarks of a bullish stock, and Wall Street concurs. Further adding to the bull case is the Robinhood Gold credit card — an invitation-only product that added 200,000 members in recent weeks. That's more brand awareness, loyalty, and fee revenue for the company. Overall, I maintain a Buy rating on HOOD stock and expect further market volatility for the foreseeable future. Disclaimer & DisclosureReport an Issue Sign in to access your portfolio
Yahoo
04-04-2025
- General
- Yahoo
51 animals rescued from former licensed breeder
ST. LOUIS – About 51 animals were rescued by the Humane Society of Missouri's (HSMO) Animal Cruelty Task Force (ACT) in Cedar County, Missouri. HSMO made the announcement on April 3, saying that 42 dogs and nine cats were seized from a past licensed breeder named 'Wynter Knights.' Close Thanks for signing up! Watch for us in your inbox. Subscribe Now According to HSMO's news release, the animals were removed from Knights after inspectors from the Missouri Department of Agriculture (MDA) said they received concerns from a witness, alleging that the animals were in concerning conditions. HSMO says that there were multiple dead animals, like horses, on site. Dog skeletal remains were also found. 'The severe neglect these poor animals suffered is abhorrent and inexcusable,' said HSMO President Kathy Warnick. MDA then filed a petition for injunctive action, contacting HSMO immediately to rescue any animals that were alive. The news release claimed that the organizations gained access to Knights' property from the Cedar County's Sheriff's Department. Those animals included corgis, Alaskan malamutes, doodle mixes and Manx. However, the ages for these rescued animals vary. With many animals rescued, HSMO calls for the community's help in providing donations, such as blankets, newspapers, dog toys or beds. HSMO aims to make the affected animal's recovery process as comfortable as possible. Missouri has a new richest billionaire, according to Forbes 'We will do everything in our power to ensure the rescued dogs are rehabilitated and given a second chance at a happier life,' Warnick said. Those looking to donate and help out can visit Humane Society Missouri's website here. To report any animals that may be in danger or suffering from neglect/abuse, individuals are urged to contact their local police and the Humane Society of Missouri's Animal Cruelty Hotline at (314) 647-4400. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
CBC
29-03-2025
- Business
- CBC
Retaliatory tariffs could be 'devastating' to Canadian book industry: Thunder Bay bookseller
A Thunder Bay bookseller says the United States-Canada trade war could have devastating effects on the Canadian book industry. Canada plans to impose 25 per cent tariffs on certain goods being imported from the United States on April 2. The move is a retaliatory one by Canada as the trade war between Canada and the United States continues. The list of items that could potentially be affected by tariffs includes books printed or warehoused in the United States, said Lynne Warnick, one of the owners of Thunder Bay's Entershine Bookshop. "I think what most people don't realize is the majority of Canadian-published or Canadian-written books are warehoused or printed in the United States at some point," Warnick said. "So it would mean that a majority of our books would have a 25 per cent tariff imposed on them." "Historically, books have been excluded from tariffs, and as a retaliatory sort of countermeasure, it seems like we might be shooting ourselves in the foot with this one," she said. "I don't think this is really going to hurt the United States, but I think it could be devastating to the Canadian book industry." In Entershine's case, Warnick said a 25 per cent tariff would mean the store would have to raise its prices on books, "especially immediately any books that we are importing from the United States." "Our margins are already razor thin as they are," she said. "We can't absorb those costs. So they would have to be passed on to our customer and that would hurt a lot of our customers, especially the ones that are ordering for school boards or school libraries." Warnick said the tariffs would likely be "really devastating" to authors' sales, as well. "Indie book shops work on word of mouth," she said. "We hand-sell to customers every single day, and our local authors know that we really support them and talk about them." "If those books have tariffs on them and become priced out of the market, I think those local authors in particular are going to see their sales drop." Thunder Bay author Heather Dickson, who writes under the pen name H. Leighton Dickson, has 10 books out that were independently-published, and recently signed a two-book deal with American company Red Tower Books, an imprint of Entangled Publishing. The first of Dickson's novels for Red Tower, titled Ship of Spells, will be out in November. "As an indie, for the most part, it might not affect me directly, because I have local printers, and if I'm doing like a bulk print, it will come from she said. "So that's a Canadian printing place itself." Dickson is concerned about the impact of any potential tariffs on the books she's publishing through Red Tower, however. "That's a considerable increase in the cost of a book," Dickson said. "If you're looking at hardcovers, which in Canada are can range anywhere from like $32 to $48 a book, add another 25 per cent to that." "That's just the easy math. I'm sure there's ramifications all down the line for the whole book industry." But Dickson is hopeful people will continue to buy books, even if the tariffs are applied. "When it comes to these books, like my genre of books, people, I think, will probably still go ahead and buy the books because they love books," she said. "If it's costing 25 per cent more, I think for the most part they will still buy." "That said, the whole publishing industry has been down for the last two months, since January." Both Warnick and Dickson said Canada doesn't have the printing infrastructure to handle large print runs. "It really is the US or China," Dickson said. "And so you might see more business going back and forth across the ocean." Warnick said the issue was discussed at a recent meeting of the Canadian Independent Booksellers Association. "We're trying to make as much noise as possible," she said. "We're asking people to write to their local MPs, to submit online how they feel about this, to write letters to the department of finance, the minister of finance, and to just make their voices known."
