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The second quarter of 2023 marked our two-year anniversary as a publiccompany, and I'm extremely proud to announce we have exceeded consensus estimates and raised our outlook every quarter since we've gone public with Q2 continuing this pattern. Good afternoon everyone, and thank you for joining us today.
In its short time as a publiccompany, Cava (NYSE: CAVA) has done a great job satisfying the hunger of its investors. Investing is a long-term game. Therefore, people should view a potential investment in this restaurant stock with a time horizon that spans years, not months. is substantially below the 44.7%
For one, AI has the potential to add lots of value to large companies immediately. Second, the main beneficiaries may not be promotional new startups, but rather already-large publiccompanies with scale and proprietary data, which will be able to automate both customer and employee-facing applications to boost their profits.
While platform conversions with enterprise customers often have longer sales cycles and take time to deploy, once implemented, they are accretive to revenue and margin and create a return on investment for our customers. times net leverage, 2.7 We anticipate net leverage at year-end will be approximately 3.4
In the second quarter, we once again delivered exceptional results, demonstrating the strength of our category-defining brand, our clear leadership position in Mediterranean, our powerful unit economic engine and the return on investments we continue to make in our business and our people. million or 26.5% of revenue versus $44.6
Good morning, and thank you for joining our second-quarter earnings call and our very first as a publiccompany. Over the last 135 years, we have established ourselves as the world's largest pure-play consumer health company. With that, it's my pleasure to turn the call over to Thibaut. What are the barriers to adoption?
Adjusted gross margin expanded 290 basis points in Q1, adding to our strong track record in this space and freeing up resources to invest in the brand activation plans I described earlier. In parallel, we are taking action to structurally change our cost base, leveraging the unique opportunity we have in front of us as we exit TSAs.
2023 was a year of transformational change for our company and for 22,000 Kenvuers around the world. Our teams accomplished a tremendous amount, successfully standing up Kenvue as an independent publiccompany while continuing to drive profitable growth. This is what brings a fuel to bring more investment to our brands.
As a result, we've delivered positive total operational returns each year since becoming a publiccompany 30 years ago, successfully navigating a variety of economic environments. This spread was supported by $165 million of adjusted free cash flow available after dividend payments to fund investments.
We also want to focus on the relaunch of Overstock in a way that allows it to return to its roots of retailing furniture, patio, and rugs, but leverage its strong brand name in value shopping to more than just its historical categories.
Now that we've completed our two spinoffs, we have more opportunities to invest in driving long-term growth in LTL, a business that generates a high return on invested capital. We're also continuing to make strategic investments in our network to capitalize on upturns in demand. years from 5.9 years at the end of 2022.
We have listener ideas to turn around Cracker Barrel, because you know what activist investing is also for the rest of us. Before we get there though, Nvidia has taken over Microsoft is the most valuable publiccompany in the world. Before we talk about more of the big cap tech companies, all that.
We delivered 57% growth and 21% EBITDA margin, top percentile of publiccompanies out there. It also leverages ODDITY LABS to develop high performing products from our proprietary molecules that truly solve consumer skin issues and concerns. So, to recap, 2023 was a very strong year for ODDITY.
Our focus has been to get the economics so that the board meetings of Pfizers, and Modernas, and Mercks of the world start to realize now there's a return on investment and now is the time to find a cure to cancer or a cure to cardiovascular disease, or being able to print tissues for livers and hearts they can't do on the Earth.
We drove strong financial performance in the fourth quarter, delivering an impressive finish to our first year as a publiccompany. In closing, I want to thank our global team for their commitment, which allowed us to deliver exceptional results during our first calendar year as a publiccompany. You know, our No.
Marketing budgets must be tied to measurable outcomes that generate a strong verifiable return on investment, which Zeta delivers. The agency can leverage our data cloud and intelligence to build higher ROI campaigns in fiber walled garden. times to five times leverage. So productivity continues to be in our favor.
Consider Adding an Alternative Investment to Your Portfolio. The number of publiccompanies you can invest in is less than half where it was 25 years ago,” said Freisner. Once a client advances past the basics, then they can dive deeper into more complex investments such as hedge funds, private equity or leveraged credit.
We believe we can grow this newly acquired business in line with our total company target growth of 15% in the long term by participating in strong market growth and gaining share. In fact, our engineers are already collaborating on more integrated and advantaged optics and software for our combined businesses.
There’s a whole bunch of infrastructure investments, infrastructures for building digital businesses. is about broadening access to knowledge, capital and well-being by leveraging existing networks and protocols, and building trusted brands. We’ve seen valuations come way down for publiccompanies. WENGER: Yeah.
It's no secret that I had hoped to move faster and at times it's been very frustrating given that we're both publiccompanies and the benefits of our specific combination are so very clear. However, what's more eye opening for us is the market that the average return on investment for a new drug is just 1.2%.
Recycling capital in this way keeps our portfolio competitive, lower its capital expenses, and accelerates our return on invested capital, driving long-term core FFO growth. And today, the difference today during the GSE was that -- as a result of the GSE, leverage is over leveraging, which is not part of the equation today.
We will also offer some perspective on our strengthened balance sheet position with the recent divestiture of one of our noncore businesses, which underscores our focused product strategy and our commitment to driving a strong return on invested capital. We have an operational foundation that drives extremely high operating leverage.
Instead, our teams will leverage behavioral analysis, machine-learning operations, and our unique metadata telemetry to protect them. We introduce this service because we know security teams are stretched thin, and MDDR builds upon automation enabled by the SaaS platform and maximizes their return on investment.
Our leverage metrics will continue to improve throughout 2024 as our EBITDA continues to grow and our debt levels improve. billion, we expect a two-turn improvement in net debt-to-EBITDA leverage compared to year-end 2023, approaching 4.5 times and positioning us two-thirds of the way down the path to invest in grade metrics.
We returned a record of more than $3 billion to shareholders in cash dividends. And now, we have paid approximately $45 billion to shareholders in dividends over our history as a publiccompany. And I just expect more and more -- and more importantly, we're seeing return on investment. They're very digital.
Our financial position continues to be stronger than any time in Energy Transfer's history, which we believe will provide us with the continued flexibility to balance pursuing new growth opportunities, further leverage reduction, maintaining our targeted distribution growth rate, and increasing equity returns to our unitholders.
Our commitment to maintaining our financial flexibility and taking advantage of attractive return capital growth opportunities that complement our now larger and more diverse operating footprint continues to be the highest priority in our capital allocation strategy. But when I look at '25 and '26, you know, leverage trend is below 3.5
This accelerated revenue growth, combined with strong margin performance, means we have achieved the rule of 50 for the first time as a publiccompany. Enterprises are looking to Zeta to improve productivity, deliver personalization at scale, and develop marketing programs with a measurable and superior return on investment.
It leverages existing templates and uses AI to generate images, body content, subject lines, and content blocks, reducing iteration cycles and accelerating campaign deployment. While for some companies, AI is just a press release or an add-on, for Zeta, it is foundational to our platform. Creative agents.
Next month in collaboration with OpenAI, we will launch the first AI-powered Home Improvement Virtual Adviser on Lowes.com, leveraging the same technology that our associates are using on their store companion app to give our customers helpful advice as they tackle their home improvement projects. Adjusted debt to EBITDAR ended the year at 3.01
Chris Miller joined as CFO and has over 40 years of finance and accounting experience, including 20 years of publiccompany experience in wholesale and retail industries with a great track record of delivering on execution and profitability objectives. million at the end of the fourth quarter with net leverage of 1.75
Our PhonePe team has long aspired to be a publiccompany, and we're excited to be taking these early steps. As a company, we drove a lot of volume during the holidays and ended with our inventory level in good shape, up 2.8%. Return on investment improved approximately 50 basis points to 15.5%, a level last achieved in 2016.
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