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Resale company Winmark is a franchisor that owns concepts including Plato's Closet, Play It Again Sports, and Once Upon a Child. Not in a legal document but in a pact because what happens, Jim, is our most successful franchisees, they understand that their business is a legacy asset in the community.
Although this is not great news, I would like to point out that a major piece of the revenue shortfall was resale revenue, which is low margin, and we have conscientiously reduced over the last few years to limit our dependency on this type of revenue. So, in the short term, the underrun and resale revenue impacts bottom-line profit.
Our focus in the security business is to continue to leverage our expertise to enhance our GBS and GIS offerings while also focusing on accelerating growth of our stand-alone services. Modern Workplace organic revenue declined year to year in the mid-teens impacted by resale revenue, which was down 30%. Non-GAAP EPS was $0.97, down $0.05
While our company has an impressive collection of assets, technology, and people, it's clear that we need to sharpen our execution and accelerate our performance. The key to delivery in this space is to leverage automation, working in conjunction with experienced IT professionals that can handle required interventions. sequentially.
Market share advances have given us the critical position to be an even stronger land buyer of choice to the owners and developers of critical land assets. We manage both our land and our production inventories to drive efficiency, cash flow, and returns on our asset base. This provided a total of 8.9 billion of homebuilding liquidity.
Executing on this will allow us to sell underutilized assets, making us more efficient overall and helping us fix the margin of the GBS business moving forward. year-to-year decline, 160 basis points came from a reduced level of low-margin resale revenues, which was in line with our expectations. This is in addition to the 7.4%
Measure on resales, Q4 industrial resales of $173 million declined 27% year on year. But see, the game here is the revenue will leverage so much on the spending we have to do to generate it that the operating margin will improve from where we are today. Finally, on to industrial, which only represents 1% of the total revenues.
We continue to maintain a strong balance sheet with low leverage and significant liquidity, which provides us with the ability to adjust to changing market conditions. Our consolidated leverage at March 31st was 20% and consolidated leverage net of cash was 10.8%. and our consolidated return on assets was 15.1%.
Pillar 3 centered on reducing complexity and simplifying our organizational structure with an emphasis on client engagement, quality, automation, and operating leverage. We also introduced our next-generation mellowNow digital underwriting engine and brought our servicing business in-house.
Specifically in consulting and engineering, first, we expanded our enterprise application capabilities that help clients leverage AI, driving increased bookings. We have strong and lasting relationships with clients that view us as strategic partners, leveraging our global delivery capabilities to help them with their transformation journeys.
and return on assets was 13.9%. Our return on assets ranks in the top 25% of all S&P 500 companies for the past three-, five- and 10-year periods. Our consolidated leverage at September 30 was 18.9%, and leverage net of cash was 5.2%. We plan to maintain our leverage around 20% over the long term. per share.
First, We've continued to remain production- and volume-focused, with a primary focus on driving production efficiency, driving higher inventory turn, driving higher cash flow and strong margins and while focusing on return on assets. Our fifth playbook strategy was to maintain tight inventory control in order to control our asset base.
Pillar three calls for reducing complexity and simplifying our organization structure with an emphasis on driving client engagement, quality, automation, and operating leverage. But I think also the automation to pick up the operating leverage associated with that. And as I mentioned, I think that's an increasing likelihood.
And finally, Q1 industrial resales of $215 million declined 6% year on year. In fiscal '24, we continue to expand industrial resales to be down high single digits year upon year. So, we have operating leverage through revenue growth over the next three years. And it's interesting. If I could squeeze one more in.
First, we said then, as we say now, that we maintain volume and production as our constant and margin as our shock absorber, and we manage our business with certainty through volatility, staying focused on production, inventory turn, cash flow, and return on assets. As we noted, we spent approximately 1.2
When you look at VOXX, we have a lot of assets. We have assets in real estate, assets in our brands, assets in our respective groups and businesses. To start with respect to fiscal 2024, I wanted to provide a little more color around the intangible asset impairment charges. This compares to $1.3
One example is a customer who chose our Clean Start solution to remove and relocate records, office equipment, and IT assets from more than 60 offices across North America that are being closed or decommissioned over the next two years. This acquisition makes us the industry leader in valet self-storage services in North America.
Strategically, we conducted an ongoing review of both our product and business portfolios leading to the divestiture of several noncore assets including our European and Australian traffic solutions businesses, along with the recently announced strategic alternatives review of the silicas product business. Good morning, guys.
During the spring selling season with a healthy supply of move-in ready inventory, we were able to capitalize on strong market conditions generated by the increasing need for housing for millennials and Gen Zs as well as the move-down Baby Boomers who continue to find our limited inventory, limited availability of resale housing supply.
As we previously discussed, two of the largest population cohorts, the millennials and recently Gen Zs are having life events lean to increased levels of need-based housing that currently cannot be met by the constrained resale of home supply in the market. SG&A in the fourth quarter of 2023 was 10.7% in the fourth quarter of 2022.
We continue to maintain a strong balance sheet with low leverage and significant liquidity, which provides us with flexibility to adjust to changing market conditions. Our homebuilding leverage was 11.1% at the end of June, and homebuilding leverage net of cash was 0.7%. Homebuilding debt at June 30th totaled $2.7
Production and costs were significantly better than expected on a BOE basis after adjusting for asset sales and discretionary natural gas and NGL curtailments. oil guidance to 150,000 barrels per day which is up 1,500 barrels per day after adjusting for the impact of asset sales closed in June. In the U.S., oil production guidance.
In light of this, simply maximizing absorptions at the expense of margins and shortening the economic life span of these assets in the process does not yield the optimal returns we believe are achievable with a little patience and a disciplined approach to pricing and incentives. We believe this is a near-term dynamic and not a new normal.
New supply looks to be manageable in most of our submarkets there, but we are actively monitoring our two recently built high-rise assets in the St. And we believe 30% to 40% of the new supply in those markets may compete directly with Camden's assets. Why this particular asset? and an average rate approximately 5.8%
And lastly, the resale home market remains tight as existing buyers are hesitant to leave their low rate mortgages, which limits available inventory and helps to increase new home demand. SG&A leverage in the second quarter of 2023 was 9.6% compared to 8.3% in the second quarter of 2022. We are definitely back above two times.
Thirdly, developers can benefit from advancement in mini games' infrastructure, leveraging our know-how and game technology. And we believe that the ad tech platform enhancements we've put in place, leveraging large neural network models have substantially improved the ROI of advertising on our platform.
Beyond just a market-driven increase in earnings, we have also proven that we can outperform the industry by leveraging our structural advantages and intend to continue doing so going forward. And agents can leverage this information to secure stronger offers, accelerate negotiations and move efficiently to a successful closing.
With the emergence of AI, shifting talent, landscape, and pressure to realize operational efficiencies, leaders are turning to Workday as their trusted platform to manage their most critical assets: their people and their money. billion valuation allowance release related to our US deferred tax assets. Next is AI. Turning to backlog.
We continue to maintain a strong balance sheet with low leverage and significant liquidity, which provides us with flexibility to adjust to changing market conditions. Our consolidated leverage at December 31st was 18.6%, and consolidated leverage net of cash was 7.8%. and our consolidated return on assets was 14.8%.
And lastly, the final priority on the list, but arguably the most important is starting the path to reduce leverage and derisk the balance sheet. Given the necessary actions we took to navigate the past few challenging years, our leverage ratios are currently not at optimal levels. We've covered a lot today.
RITHOLTZ: (LAUGHTER) MILLER: But in reality, the buyers that zoomed out to the suburbs were largely from the rental market because they weren’t anchored to another asset. Housing itself, it’s just a slow moving asset. MILLER: Right, it’s like how to devalue an asset without even trying. The thinking was, no.
Home closing gross margin for the quarter was 24.8%, which, combined with SG&A leverage of 9.9%, resulted in diluted EPS of $5.34. This morning, we announced we completed our acquisition of the assets of Elliott Homes, a prominent private builder operating in the Gulf Coast. and generated a return on equity of 17.2%.
Our portfolio of growth businesses, including digital solutions, data center, and asset lifecycle management, are collectively growing at a CAGR greater than 20% and becoming an increasingly larger portion of our revenue. If you recall at the beginning of our Matterhorn climb, our growth portfolio represented 15% of our total revenue.
We saw sales growth across digital assets, including the Best Buy app, which hit the No. Therefore, we will leverage AI to launch an innovative new search experience across dotcom, small view, and the app. Our digital sales were almost 40% of total domestic sales this Q4, a slightly higher mix than last year. Best Buy marketplace.
Our return on equity was 19.1%, and return on assets was 13.4%. Our return on assets ranks in the top 15% of all S&P 500 companies for the past three-, five-, and 10-year periods. Our consolidated leverage at December 31st was 17%, and we plan to maintain our leverage around 20% over the long term. billion to $2.8
So, as for the resale, in Mexico, for example, we had a confusion in logistics. And they don't find the EVs have a good value as one of the assets they should own. However, we are only leveraging it slightly as for the price hike and pricing as well. And we did have some impact as well at Honda. But now, the prices are not high.
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