Latest news with #BrianHarris
Yahoo
3 days ago
- Business
- Yahoo
Catawba Indians reveal when $1 billion North Carolina casino is expected to open
Amid the earsplitting din of construction, the Catawba Indians on Tuesday revealed when they'll open their $1 billion Two Kings Casino Resort 35 miles west of Charlotte. While the main casino complex is expected to open in spring 2027, a single-story 'introductory' casino is on target for a March 2026 opening, tribal officials said during a media tour of the 2.2 million-square-foot project off Interstate 85 exit 5. 'Not only is this facility bringing great jobs to our tribe and our people and creating that generational wealth, it's also bringing that same opportunity to the citizens of Kings Mountain and the citizens of North Carolina,' Catawba Nation Chief Brian Harris said. The casino complex is the largest current construction project of any kind between New York and Florida, Nory Hazaveh, principal of SOSHNY, the N.Y.-based architect on Two Kings Casino Resort, told The Charlotte Observer at the site. The introductory casino part of the complex will include 1,300 slot machines, 22 table games, a 40-seat restaurant, an 18-seat bar, sports betting kiosks and a loyalty rewards desk, officials said. Inside the introductory casino Tuesday, construction officials pointed to steel piping where the ceiling will be, adorned by chandeliers. The lobby will feature a video mural of the history of the Catawba Nation, along with its pottery and basket making traditions, Trent Troxel, vice president of the Catawba Nation Gaming Authority, said on the tour. The tribe will close its current single-level casino, which celebrates its fourth anniversary July 1, three months after the introductory casino opens. Construction of the main casino complex started about a year ago. That includes the introductory casino, three levels of covered parking, a back-of-house level and a top level with the main casino floor and restaurants. Via an indoor 'skywalk,' the casino complex will attach to a 24-story, 385-room hotel that's also well underway. The casino complex will have 4,300 slot machines, 100 table games and 11 restaurants, including a steakhouse, an Italian restaurant, a marketplace with six venues, a café and a grab-and-go outlet. Restaurant names will be unveiled closer to the opening, officials said. The complex also will include a players lounge, 42 elevators and 11 bars, including a center bar and a sports bar. A 2,700-space parking garage will be built under the main casino floor on a high-rise casino building, and 800 surface parking spaces also will be available. The project already is employing hundreds of construction workers. Upon completion, the casino resort will employ about 2,200 local residents and citizens of the Catawba Nation, tribal officials said. With its current single-level, temporary casino, the operation already is providing education opportunities and health care to tribal employees, Troxel told the Observer. 'Most importantly, it's providing jobs,' Troxel said. 'Recently, we hired four or five tribal members. Some of them just came out of college. I didn't have that opportunity to go work for my tribe out of college. But there's opportunities for Catawba college kids now to come work for their nation.'
Yahoo
10-06-2025
- Business
- Yahoo
GFF Q1 Earnings Call: Tariff Mitigation and Asset-Light Model Shape Outlook
Multi-industry consumer and professional products manufacturer Griffon Corporation (NYSE:GFF) fell short of the market's revenue expectations in Q1 CY2025, with sales falling 9.1% year on year to $611.7 million. Its non-GAAP profit of $1.23 per share was 12.5% above analysts' consensus estimates. Is now the time to buy GFF? Find out in our full research report (it's free). Revenue: $611.7 million vs analyst estimates of $618.2 million (9.1% year-on-year decline, 1% miss) Adjusted EPS: $1.23 vs analyst estimates of $1.09 (12.5% beat) Operating Margin: 16.6%, in line with the same quarter last year Market Capitalization: $3.31 billion Griffon's first quarter results were shaped by a return to pre-pandemic seasonality in its Home and Building Products (HBP) segment and ongoing adjustments in Consumer and Professional Products (CPP). CEO Ron Kramer cited the normalization of garage door demand and the segment's ability to maintain EBITDA margins above 30% as evidence of HBP's resilience, emphasizing the impact of steady residential performance and product mix. Management pointed to the launch of new products like the VertiStack Avante garage door as a differentiator, while CPP's profitability improved due to the transition toward an asset-light model and global sourcing. CFO Brian Harris noted that CPP's increased EBITDA was driven by sourcing initiatives and stronger results in Australia, despite persistent softness in North America and the UK. Management acknowledged that volume declines were expected and largely attributed to cyclical trends in both segments. Looking ahead, management remains focused on mitigating the impact of U.S.-China tariffs, especially within the CPP segment. While maintaining full-year guidance, CEO Ron Kramer asserted that tariff exposure is manageable due to HBP's domestic manufacturing base and ongoing supply chain diversification efforts in CPP. He said, 'We expect CPP to mitigate the inflationary effects of trade policy and other headwinds during the remainder of the fiscal year through supplier negotiations, cost management, leveraging existing inventory and, when necessary, taking price actions.' CFO Brian Harris added that supply chain shifts away from China for lawn and garden tools are on track, with similar strategies planned for the fan business by year-end. Overall, management's outlook depends on balancing price realization, cost controls, and maintaining flexibility within a dynamic operating environment. Management identified HBP's stable domestic business and CPP's asset-light transition as key factors influencing results, while highlighting tariff risk management as a top priority for the remainder of the year. HBP segment seasonality returns: HBP revenue reflected a normalization to pre-pandemic seasonal cycles, with the garage door business seeing typical second-quarter softness after last year's weather-driven strength. Management emphasized that residential demand remained stable, supporting margins above 30% in the segment. Product innovation spotlight: The launch of the VertiStack Avante garage door, which eliminates overhead tracks for more space and light, was highlighted as a significant product milestone. Management expects continued innovation to drive competitive differentiation in both residential and commercial door markets. CPP asset-light model benefits: Shifting U.S. CPP operations to an asset-light, globally sourced structure increased flexibility and lowered costs. This transition was credited with improving year-over-year EBITDA in CPP, despite volume declines in North America and the UK, and was supported by organic and acquisition-driven growth in Australia. Tariff risk management: Management explained that while about one-third of CPP's revenue is exposed to China-related tariffs, HBP—which generates 85% of segment EBITDA—is largely insulated due to its domestic focus. CPP's exposure is being managed through supply chain diversification, supplier negotiations, inventory strategies, and selective price increases. Capital allocation priorities: The company repurchased $31 million of stock during the quarter and reaffirmed its commitment to shareholder returns through ongoing buybacks and dividends. Management underscored that these actions are supported by the resilient cash flow of the business and a balanced approach to debt reduction and reinvestment. Management's outlook for the year centers on navigating tariff impacts, optimizing the CPP supply chain, and leveraging product innovation to support margins and growth. Tariff mitigation strategies: Management believes the financial impact of U.S.-China tariffs can be offset by shifting sourcing out of China, negotiating with suppliers, and managing inventory. CEO Ron Kramer reiterated that 'multiple levers of management' are available to address any increased costs, and that CPP's asset-light model enables operational flexibility. Product and market resilience: HBP's domestic manufacturing and focus on mid-to-high-end garage doors are expected to sustain margins even if consumer sentiment softens. CFO Brian Harris said that demand through April remained healthy, and management expects continued resilience due to home renovation trends and new product introductions. CPP segment improvement targets: Management reaffirmed the long-term 15% EBITDA margin target for CPP, supported by further global supply chain diversification and cost actions. They noted that while North America and the UK remain challenging, the Australian market and recent acquisitions are expected to underpin future growth. In upcoming quarters, the StockStory team will watch for (1) execution on supply chain diversification away from China in the CPP segment, (2) margin stability in HBP as seasonal demand returns, and (3) the company's ability to offset tariff-related cost pressures through pricing and cost management. The trajectory of North American consumer demand and the pace of new product adoption will also be key signals for future results. Griffon currently trades at a forward P/E ratio of 11.7×. In the wake of earnings, is it a buy or sell? See for yourself in our full research report (it's free). Donald Trump's victory in the 2024 U.S. Presidential Election sent major indices to all-time highs, but stocks have retraced as investors debate the health of the economy and the potential impact of tariffs. While this leaves much uncertainty around 2025, a few companies are poised for long-term gains regardless of the political or macroeconomic climate, like our Top 5 Growth Stocks for this month. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). 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-micro-cap company Tecnoglass (+1,754% five-year return). Find your next big winner with StockStory today. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
27-05-2025
- Business
- Yahoo
Ladder Achieves Second Investment Grade Credit Rating
NEW YORK, May 27, 2025--(BUSINESS WIRE)--Ladder Capital Corp ("Ladder," the "Company," "we" or "our") (NYSE: LADR), a leading commercial real estate finance REIT, announced today that the Company received an investment grade rating from Moody's Ratings ("Moody's"). Moody's has assigned a Baa3 issuer rating to Ladder Capital Corp and upgraded the backed senior unsecured rating of Ladder Capital Finance Holdings LLLP to Baa3 from Ba1, issuing a stable outlook for both entities. This upgrade follows Ladder's investment grade rating from Fitch Ratings ("Fitch") on May 21, 2025, when the Company became the only commercial mortgage REIT to achieve an investment grade rating. "We are proud to receive a credit rating upgrade from Moody's, following last week's upgrade from Fitch. These two investment grade ratings enhance our financial flexibility and improve our borrowing cost - both in the debt capital markets and on our recently upsized revolving credit facility. We stand apart from our peers as the only company in our space to hold investment grade ratings," said Brian Harris, Ladder's Chief Executive Officer. "This distinction further strengthens Ladder's autonomy and ability to operate independently of third-party financing, enabling us to move quickly and decisively to deliver unmatched certainty of execution and customized capital solutions to our clients. With our disciplined lending, conservative leverage, and consistent performance across market cycles, we are well positioned to capitalize on future opportunities." Due to these two investment grade ratings, the interest spread on Ladder's $850 million unsecured revolving credit facility decreases to 125 basis points. Factors cited by Moody's in Ladder's ratings upgrade include the Company's strong funding and liquidity, solid capitalization, history of good and less volatile profitability compared to peers since our 2008 inception, and strong credit results that reflect our strong risk management culture and highly experienced management team. About Ladder Ladder is a leading diversified commercial real estate finance platform that specializes in underwriting commercial real estate across the capital stack. With $4.5 billion of assets, our investment objective is to preserve and protect shareholder capital while generating attractive risk-adjusted returns. Since 2008, we have invested over $47 billion in debt and equity, serving both institutional and middle-market clients. Our primary business is originating fixed and floating rate first mortgage loans secured by all commercial real estate property types. We also own and operate commercial real estate, including net leased commercial properties, and we invest in investment grade securities secured by first mortgage loans on commercial real estate. We are internally-managed and members of our management team and board of directors collectively own more than 11% of Ladder's equity, making them the Company's largest shareholder and aligning their interests closely with fellow stakeholders. Since our founding, their vision has been to support the Company's investment platform with a conservative and durable capital structure. Our industry-leading credit ratings reflect this differentiated financing strategy. Ladder is headquartered in New York City with a regional office in Miami, Florida. All amounts in this section are as of March 31, 2025. View source version on Contacts Investor ContactLadder Investor Relations(917) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
27-05-2025
- Business
- Business Wire
Ladder Achieves Second Investment Grade Credit Rating
NEW YORK--(BUSINESS WIRE)--Ladder Capital Corp ('Ladder,' the 'Company,' 'we' or 'our') (NYSE: LADR), a leading commercial real estate finance REIT, announced today that the Company received an investment grade rating from Moody's Ratings ("Moody's"). Moody's has assigned a Baa3 issuer rating to Ladder Capital Corp and upgraded the backed senior unsecured rating of Ladder Capital Finance Holdings LLLP to Baa3 from Ba1, issuing a stable outlook for both entities. This upgrade follows Ladder's investment grade rating from Fitch Ratings ('Fitch') on May 21, 2025, when the Company became the only commercial mortgage REIT to achieve an investment grade rating. 'We are proud to receive a credit rating upgrade from Moody's, following last week's upgrade from Fitch. These two investment grade ratings enhance our financial flexibility and improve our borrowing cost - both in the debt capital markets and on our recently upsized revolving credit facility. We stand apart from our peers as the only company in our space to hold investment grade ratings,' said Brian Harris, Ladder's Chief Executive Officer. 'This distinction further strengthens Ladder's autonomy and ability to operate independently of third-party financing, enabling us to move quickly and decisively to deliver unmatched certainty of execution and customized capital solutions to our clients. With our disciplined lending, conservative leverage, and consistent performance across market cycles, we are well positioned to capitalize on future opportunities.' Due to these two investment grade ratings, the interest spread on Ladder's $850 million unsecured revolving credit facility decreases to 125 basis points. Factors cited by Moody's in Ladder's ratings upgrade include the Company's strong funding and liquidity, solid capitalization, history of good and less volatile profitability compared to peers since our 2008 inception, and strong credit results that reflect our strong risk management culture and highly experienced management team. About Ladder Ladder is a leading diversified commercial real estate finance platform that specializes in underwriting commercial real estate across the capital stack. With $4.5 billion of assets, our investment objective is to preserve and protect shareholder capital while generating attractive risk-adjusted returns. Since 2008, we have invested over $47 billion in debt and equity, serving both institutional and middle-market clients. Our primary business is originating fixed and floating rate first mortgage loans secured by all commercial real estate property types. We also own and operate commercial real estate, including net leased commercial properties, and we invest in investment grade securities secured by first mortgage loans on commercial real estate. We are internally-managed and members of our management team and board of directors collectively own more than 11% of Ladder's equity, making them the Company's largest shareholder and aligning their interests closely with fellow stakeholders. Since our founding, their vision has been to support the Company's investment platform with a conservative and durable capital structure. Our industry-leading credit ratings reflect this differentiated financing strategy. Ladder is headquartered in New York City with a regional office in Miami, Florida. All amounts in this section are as of March 31, 2025.
Yahoo
23-05-2025
- Sport
- Yahoo
Oklahoma Sooners earn commitment from 2026 DL Brian Harris
The Oklahoma Sooners picked up a commitment on Friday from one of the more underrated prospects in the 2026 recruiting class, Brian Harris. Harris out of Mandarin High School in Jacksonville, Fla. chose the Sooners over offers from Michigan, South Carolina, Alabama, Ole Miss, Colorado, Auburn, West Virginia, Mississippi State, N.C. State, Maryland, Louisville, Duke and Penn State. Harris projects as and interior defensive lineman at the collegiate level, where his size, strength, and athleticism will allow him to be a force for the Oklahoma Sooners' defense. He has experience playing on the edge and shows the burst, footwork, and hands to be able to win against offensive tackles. As an interior defensive lineman, his length and athleticism will give guards and centers fits. Advertisement Harris is listed at 6 feet, 4 inches and weighs 290 pounds. Though currently listed as a three-star prospect in the 247Sports Composite rankings, Harris is considered a four-star prospect by Rivals and the No. 20 defensive lineman in the 2026 recruiting class. He marks the third defensive pledge for Brent Venables in the last couple of weeks, following safety Niko Jandreau out of Arizona and linebacker Jakore Smith out of Arkansas. Oklahoma is now up to seven pledges in the 2026 cycle and now ranks No. 38 in the nation, just behind Michigan in the 247Sports team rankings. In 2026, Harris will join a defensive tackle room that includes Jayden Jackson, David Stone, Markus Strong, Trent Wilson, and Ace Hodges. Brian Harris Recruiting Profile Scouting Report As a player, Harris has really good size for the defensive line. What jumps off the screen the most is his quickness and the force with which he plays. He's a violent player and blends a physical playing style with really good athleticism for a guy nearly 300 pounds. For Mandarin High, he lined up as a defensive end in three-man fronts a lot, showing off the ability to get around the corner to attack quarterbacks. He does a great job in backside pursuit, displaying a strong motor to get down the line and chase the running back down from behind. He shows a good understanding of playing with angles and using his arm length to get around offensive linemen. With his size, strength, and athleticism, he has the ability to play defensive tackle in four-man fronts as well as defensive end in three-man fronts. Highlights Watch Brian Harris' highlights on Hudl. Vitals Projected Position Defensive Tackle Height 6-foot-4 Weight 290 pounds Hometown Jacksonville, Fla. Ratings Site Stars Overall Position State Rivals 4 -- 20 69 ESPN 3 -- 39 66 247Sports 3 -- 85 72 247Sports Composite 3 521 59 76 On3 3 -- 33 62 On3 Industry 3 437 46 66 Twitter Contact/Follow us @SoonersWire on X (formerly Twitter) and like our page on Facebook to follow ongoing coverage of Oklahoma news, notes and opinions. You can also follow John on X @john9williams. This article originally appeared on Sooners Wire: 4-Star DL Brian Harris commits to Oklahoma Sooners
