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Image source: Getty Images You'll often hear that debt is bad news, no matter what form it comes in. It's good advice to try to keep your debt to a minimum in general. But you should also know that there is such a thing as good debt, because certain types could help your financial picture improve in the long run.
However, investors should recall that Zillow's overdependence on AI algorithms once caused it to overestimate the value of the homes its former Zillow Offers business purchased for resale. But its high debt-to-equity ratio of 2.9, AI isn't a magic bullet that will solve all of Opendoor's recent problems.
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.
This is good for the miners because they don't have to sell stock or take on debt to build out their operations. It earns money by offering the cut-price metals it buys for resale at market prices. Wheaton is really a financial partner that gets paid in precious metals, when you step back and look at the big picture.
billion more in cash than debt, Costco emerges as an essential holding for long-term dividend-focused investors. million over the trailing 12 months, the market might finally be taking notice of the resale company valued at a market capitalization of $1.3 When combined with an impressive balance sheet with $7.2
Measure on resales, Q4 industrial resales of $173 million declined 27% year on year. Free cash flow as a percentage of revenue has declined from the same quarter a year ago, due to higher cash interest expense from debt related to the VMware acquisition, higher cash taxes due to a higher mix of U.S. billion of cash and $69.8
Pay off debt with lower interest If you have a good credit score , 2024 could be the year to pay off your credit card debt faster -- by replacing it with lower-interest debt. Here are a few ways that you could get out of debt faster with lower interest rates in 2024.
Finally, Q3 industrial resales of $164 million declined 31% year on year. We believe we are approaching bottom in Q3 as Q4 resales are expected to recover sequentially. Year on year, Q4 industrial resales will still be down approximately 20%. billion of gross principal debt. years, respectively. years, respectively.
Her concerts have been selling out in minutes, and if you've tried getting your hands on tickets to one, you know they're going for thousands of dollars on resale sites. Image source: Getty Images Swifties, we don't have to tell you that Taylor Swift's Eras Tour is the hottest ticket of the year. It's enough to make any fan despair!
For homeowners looking for ways to finance renovations projects, that raises a good question -- could it be savvy to use your 401(k) to finance home renovations, especially if your other options are high-interest debt ? This gives you time to pay off your balance without risking going into credit card debt.
Finally, Q2 industrial resale of $234 million declined 10% year on year. And for fiscal '24, we now expect industrial resale to be down double-digit percentage year on year, compared to our prior guidance for high single-digit decline. billion of cash and 74 billion of gross debt. So, to sum it all up, here's what we are seeing.
Cloud infrastructure and IT outsourcing organic revenue declined 7%, an improvement from double-digit declines we saw in the prior three quarters due to a significant resale transaction delivered in the quarter. Modern Workplace organic revenue declined year to year in the mid-teens impacted by resale revenue, which was down 30%.
That's a large pile of debt right there. More: Check out our picks for the best mortgage lenders When your property tax bill soars Seeing your home's value increase is a good thing from a resale perspective. Now, you're probably aware that home improvements can be expensive. And it's important to be careful when financing them.
You shop for dishware at a local thrift store and home improvement items at a nearby Habitat for Humanity resale store. That's money you can use to build an emergency savings account , pay down debt, or invest for retirement. And when you need auto parts, there's an auto part recycling shop near your home.
year to year organically as services revenue was down 8% in line with prior quarter, and resale declined 19%. largely due to disciplined resource management, ongoing actions to optimize our data centers and networks, and the lower mix of resale revenue. The resale element is a relatively small component of the improvement.
By this, I mean further reducing low-margin resale revenue and driving a higher level of services, including those directly associated with AI and automation. Our results continue to be impacted by the year-to-year decline of resale revenues, which was 90 basis points of the 4.5% Our financial focus is on improving the business mix.
homebuilding debt-to-total cap ratio with $6.3 billion plus or minus of net cash flow over the next year, we have the flexibility to invest capital strategically and growth while retiring debt as it matures and repurchasing shares of Lennar stock, which we expect to repurchase at least $2 billion of stock over the next year.
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. billion of gross debt. The weighted average coupon rate and years to maturity of our $48 billion in fixed-rate debt is 3.5% years, respectively.
These tenants allow us to target the biggest piece of the potential homebuyer pool by effectively competing its resale inventory, not just in today's environment that favors builders but also when the resale market returns to historical averages. We issued $575 million in new 1.75% convertible debt due 2028. as of June 30, 2024.
Forestar had approximately $800 million of liquidity at quarter end with a net debt to capital ratio of 16.4%. Debt at the end of the quarter totaled $5.9 First, on the resale market, I'm curious some of your thoughts there. We do that to compete in the new-home market as much as we do against the resale market.
We also successfully completed a tender exchange of our 2025 unsecured notes, extending the maturity to 2027 and reducing outstanding corporate debt by $137 million. As part of this transaction, we recorded a $6 million loss on the extinguishment of debt. During the second quarter, pull-through weighted rate lock volume was $5.8
debt to total capitalization, down from 13.3% billion cash position, our net debt to total capital is actually negative, and our balance sheet is being carefully managed to provide extraordinary liquidity and flexibility. And accordingly, we'll continue to retire debt and purchase stock opportunistically. billion, or $3.87
While resale revenues performed as expected, down 28% year over year, services revenue declined 8% helped by higher-than-anticipated in-quarter volumes. The lower mix of resale revenue also contributed to the year-to-year margin improvement. As planned, we incurred a modest increase to our debt levels to $4.1 Moving to GIS.
year-to-year decline, 160 basis points came from a reduced level of low-margin resale revenues, which was in line with our expectations. Net interest expense increased $9 million year over year to $25 million, primarily due to a higher level of variable interest expense on short-term debt. Non-GAAP EPS was down $0.05
Forestar had approximately $860 million of liquidity at year-end with a net debt-to-capital ratio of 12.4%. Our debt at September 30 totaled $5.9 And in markets where there's pressure on insurance, we see a consistent and relatively stable insurance premiums, which are our competitive advantage against the resale market.
Our performance has kept the Children's Place brands in the leadership position on social media, representing close to 50% of total social impressions among our children apparel resale competitive set. Maybe, Sheamus, can you just give us -- elaborate a little bit more on the free cash flow outlook for the year and sort of debt paydown plans?
debt to total capital capitalization ratio, down from 14.2 If we reflect on our second-quarter results, we not only accomplished excellent cash flow and bottom-line results, but we repurchased $208 million of stock and we also repurchased approximately $158 million of senior debt due in fiscal 2024. We've repaid about 5.6
Forestar had more than $840 million of liquidity at quarter-end with a net debt to capital ratio of 14.9%. Debt at the end of the quarter totaled $5.3 We also have a sizable debt maturity that's very early in fiscal '25 of $500 million in October. Obviously, resale inventory was incredibly tight. billion of cash and $3.1
Orange County, and Atlanta, both underperformed mainly for reasons related to bad debt, skips and evictions, and fraud. Orange County will come primarily from a reduction in bad debt as we repopulate many of our vacant units with residents who actually pay their rent. Of the remaining three, L.A. We anticipate the improvement in L.A.
At a high level, the housing market remains healthy with demand supported by strong fundamentals, including household formations and migration trends, years of underproduction and a lock-in effect limiting the supply of resale homes. billion of debt outstanding, including $819.7 and net debt-to-capital ratio of 43%.
Credit card debts are at all-time highs. Resources that can be used to enhance output or resale so that can be leveraged to support other areas of the business. With respect to our balance sheet, as of year-end, our cash and cash equivalents stood at 11 million and our total debt stood at 73.3 The economy.
billion of debt outstanding, including $863.3 million drawn on our revolver, resulting in a debt-to-capital ratio of 43.6%, and net debt-to-capital ratio of 42.7%. The fundamentals of the housing market are strong, supported by continued household formations, years of underproduction and limited supply of resale homes.
The strong cash generated drove a reduction in net interest expense by about $20 million compared to the fourth quarter of 2022 as we repaid some high variable cost debt during the quarter. And so, we'll be a little cautious here in Q1 so that we don't get back into paying high interest cost debt, which we just got out of.
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. billion and net debt to cap of negative 0.2% Our target net debt to cap has always been kind of in the low – mid-20s, we are way off of that.
And obviously, new build has been a really bright spot in the market over the last couple of years versus what we're seeing in resale. But it is a very, very positive business for us because it's predictable. So, we really like that business and would like to do as much of it as we can. Operator At this time, there are no further questions.
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. Our net debt-to-cap remains well below our max ceiling, which is in the mid 20%.
That said, the balance sheet remains an important priority, and I will talk about plans for further debt reduction in a few minutes. Our cost of capital synergy estimate assumed terming out Callon's $2 billion debt at APA's lower long-term cost of borrowing. billion three-year term loan to refinance this debt. Thanks a lot.
Industrial resales were 962 million. In fiscal '24, we expect industrial resales to be down low single digits year on year. billion of gross debt, of which 1.6 And finally, Q4 industrial sales of 236 million was stable year on year in fiscal '23. We continue to remain disciplined on how we manage inventory across the ecosystem.
The balance sheets just bulking up over time, 6 billion bucks, rough numbers of retained earnings and super cash flow, no long term debt, working capital, six $7 billion, and they don't have a need for it. Winmark is a resale franchiser of companies like Played Against Sports, Plato's Closet. He has a model for it.
Ticketmaster not only owns the original marketplace for tickets, but in a lot of cases, the resale market as well. Now, the ROIC number doesn't necessarily just capture marketing spend. Where before the pandemic, I think it was less than 10% of tickets that got you into an NFL game were digital. Now it is more than 97%.
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.
billion in long term debt, just $2.5 It's because there's just not that much resale activity. It's a very familiar story, legacy entertainment business trying to adapt to the new streaming model, a lot of financial considerations because when you consider these businesses in the whole predict of Paramount, it's somewhat challenged.
The resale company's capital allocation strategy and growth expectations. As I've mentioned earlier, we're Winmark the resale company and our mission is to provide resale for everyone. It's the franchisor of resale brands, including Plato's Closet, Once Upon A Child, and Play It Again Sports.
Resale company Winmark is a franchisor that owns concepts including Plato's Closet, Play It Again Sports, and Once Upon a Child. Mary Long: I'm Mary Long and that's Brett Heffes CEO of Winmark, a franchiser of resale concepts, including Plato's Closet, Play It Again Sports, and Once Upon a Child. You've got some debt.
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