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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. 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. I've been a shareholder in companies.
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.
Home closing gross margin for the quarter was 25.9%, which combined with SG&A leverage of 9.3% Even as the resale home supply has increased in some Texas submarkets, our move-in ready homes effectively completed against its inventory. resulting in diluted EPS of $6.31. and generated a return on equity of 18.3%. in the prior year.
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%.
We have many global customers with large data sets, and we have the expertise to help them leverage this data to extract actionable insights and optimize operations for improved efficiency and innovation. Our results continue to be impacted by the year-to-year decline of resale revenues, which was 90 basis points of the 4.5%
billion, and we returned all of the cash we generated this year to shareholders through repurchases and dividends. We remain focused on enhancing the capital efficiency of all of our operations to produce consistent, sustainable returns and cash flows so that we can return more capital to shareholders through share repurchases and dividends.
As our shareholders know well, we announced Vision 2025 in July of 2022 in response to one of the most abrupt and significant contractions in housing and mortgage volumes in a generation. I appreciate everyone taking the time to join us on the call today. The five strategic pillars of Project North Star are as follows: Pillar No.
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%. At March 31st, we had $5.7 billion of cash and $2.6
And we returned a record $22 billion in cash to our shareholders, up 45% year on year through dividends, buybacks, and eliminations. Measure on resales, Q4 industrial resales of $173 million declined 27% year on year. Now, excluding VMware, our revenue grew over 9% organically. Vivek Arya -- Analyst Thank you.
As our enhanced operating model gains traction, we believe it positions us well to deliver greater value for our customers, improve financial performance, and drive long-term shareholder value. We assembled a dedicated team that quickly implemented a recovery plan, leveraging our extensive experience with similar incidents.
we're going to be increasing the amount that we return to shareholders through stock buybacks. But I think one of the great unknowns and uncertainty is what impact that does have on the resale market as far as, you know, potentially freeing up some inventory and getting some people to move.
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.
We've got a much larger force of transportation out there that they can leverage, which I think makes a lot of sense. But fans were understandably frustrated, especially when they hopped on over to the secondary or resale ticket market and found tickets for, in some cases, thousands of dollars. Jason Moser: Yes, they are.
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%. At December 31st, we had $6.4 billion of cash and $3.1
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.
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. times, reflecting impressive growth in shareholder value. times to 1.4
Tight inventory levels in the resale and new home market propelled demand for available new homes, and we offered a combination of attractive pricing and compelling mortgage rate programs to capture that demand. And then, just a few final points on our balance sheet. We remained committed to increasing returns.
We will drive further improvement of our operating margins aided by the sales volume growth leverage and our initiatives that drive manufacturing productivity following several years of supply chain and other disruptions. And so, we've still got significant margin upside driven by volume leverage. I guess, three very brief questions.
Net loss and net loss per common share were pressured by slight declines in gross margins and deleverage in SG&A, partially offset by leverage in advertising and marketing, all of which was expected, and consistent with our previous guidance. I just want to add a few details beyond what Shawn shared earlier.
We will maintain our disciplined approach to investing capital to enhance the long-term value of our company, including returning capital to our shareholders through both dividends and share repurchases on a consistent basis. Our homebuilding leverage was 11.1% at the end of June, and homebuilding leverage net of cash was 0.7%.
Let's first talk about our resale business. We have created a digital and physical back-to-school destination by integration our marketing message with opportunities in stores such as leveraging influencers and using a digital look book to drive engagement. In total, our U.S.
A great example of leveraging our heritage and outdoor activities is the evolution from barbecue and live fire cooking enthusiasts to the growing influences in the broader world of culinary. Here are a couple of micro examples. On YETI.com, our focus is on building the optimal brand and purchase experience. That's my first question.
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% We strive to balance growth in the business with returning cash to shareholders.
Further, it ensures we sustain our strong margins and generate value for shareholders over a longer period, balancing today's performance with tomorrow's opportunities. The fundamentals of the housing market are strong, supported by continued household formations, years of underproduction and limited supply of resale homes.
Our end-to-end solution ensures a secure chain of custody regardless of media format for this customer, leveraging our image on demand service and InSight platform to integrate seamlessly with their customer success management system. With strong EBITDA performance we ended the quarter with net lease adjusted leverage of 5.1
I'm thrilled to be here and look forward to working with all our shareholders and covering analysts going forward. 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.
Note that in last night's release, we increased our estimate of annual Callon cost synergies from $225 million to $250 million as we leverage economies of scale of the combined APA and Callon Permian businesses. Just a second question on shareholder return. Specifically, your shareholder return continues to be quite active.
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.
This will have significant operating leverage. Now there's a lot of misconceptions around EVs on the separate areas of costs like resale value and insurance, of course, range and charging, and battery life. This revenue has gross margins of 50-plus percent, which drives significant operating leverage and improved capital efficiency.
and SG&A leverage of 10.8% We've also demonstrated our commitment to returning capital to shareholders. billion to shareholders in the last three years. As we move forward to 2025, we are excited about our opportunity to increase our market share as we compete against new build and resale homes alike.
We are proud to be able to continue to take on corporate governance initiatives that align with our shareholders-with what our shareholders have told us is most important to them. 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.
Therefore, we will leverage AI to launch an innovative new search experience across dotcom, small view, and the app. In doing so, we continue to leverage the valuable insights we've gained from testing and deploying unique solutions within our store portfolio in the past few years. Best Buy marketplace.
We are already the market leader in multiple businesses and are focused on building our scale, increasing our operating leverage, broadening our solutions offerings, and leveraging our commercial platform to capitalize on Iron Mountain's unique position as a truly end-to-end solutions provider transcending both the physical and digital worlds.
billion to shareholders through share repurchases and dividends. Over the past 12 months, we returned essentially all of the cash we generated to shareholders through repurchases and dividends. Our consolidated leverage at December 31st was 17%, and we plan to maintain our leverage around 20% over the long term.
Having those shares available in public will help broaden our shareholders base, and a wider range of our shareholders can support us for medium and long-term perspective. So, as for the resale, in Mexico, for example, we had a confusion in logistics. And we did have some impact as well at Honda.
The life expectancy of very expensive batteries, resale values, charging times, lack of charging infrastructure, and driving ranges are all issues that keep some drivers from switching to BEVs. Amazon is one of the company's largest shareholders. Both Toyota and Honda , meanwhile, are currently leaning into hybrids over BEVs.
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