How does someone win the lottery four times? A cancer survivor from Alberta just did
David Serkin is retired, a cancer survivor and resides in Lethbridge.
He says he has been buying Lotto 6-49 tickets since its launch in 1982. He won $1 million on the May 3 Lotto 6-49 Gold Ball draw. This win comes after he won $500,000 on Aug. 20. On Nov. 16, he won $1 million. In a draw 12 years ago that marked his first win, he went home with $250,000.
'I know the odds are astronomical,' he said in a news release. 'I don't think it'll happen again, but I still like buying tickets.' According to Western Canada Lottery Corporation, the odds of winning the jackpot are estimated to be 1 in 33 million.
Not surprisingly, his family is pleasantly shocked. 'I went for coffee with the boys after I checked my ticket,' he said, CTV News reported. 'They asked to see it and said, 'Not again?!''
The Independent reported that with his November winnings, he was using some of it to help out his friends.
Travel seems to be in the cards for the winning Alberta man. He took his wife to Hawaii with his last win. This time, he plans to travel within Canada. 'Now, we're going to Newfoundland,' he said, CityNews reported.
'Struggling' Canadian father wins $80M lottery jackpot
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The Hill
9 minutes ago
- The Hill
Crucial exemption allows majority of Canadian and Mexican goods to be shipped to US without tariffs
TORONTO (AP) — U.S. President Donald Trump raised the tariffs on Canadian goods to 35% last week, but a key exemption for Canada and Mexico shields the vast majority of goods from the punishing duties. Goods that comply with the 2020 United States-Mexico-Canada Agreement trade pact that Trump negotiated during his first term are excluded from the tariffs. Here's a look at Trump's tariffs on the two countries and their exemptions: Most Canadian exports reaching the U.S duty free Canada's central bank says 100% of energy exports and 95% of other exports are USMCA compliant. The Royal Bank estimated that almost 90% of Canadian exports appear to have accessed the U.S. market duty free in April. Canadian Prime Minister Mark Carney said the commitment of the United States to the core of USMCA, reaffirmed again last week, means the U.S. average tariff rate on Canadian goods remains one of its lowest, and over 85% of Canada-U.S. trade continues to be tariff free. 'Canada is better off than any of the trading partners right now because the Americans appear to be relying as a default on USMCA,' said Flavio Volpe, president of the Automotive Parts Manufacturers' Association. 'That gives them the tough tariff headline but also allows them the access to the stuff they need from us. Because of that we're in a relative better position.' Canadian and Mexican companies can claim preferential treatment under the USMCA based on where the products are made. 'The headline news is 35% tariffs but it's somewhat targeted,' said John Manley, Canada's former industry minister, finance minister, foreign affairs minister and deputy prime minister. Manley said Canada is doing okay despite the economic uncertainty. 'There is a lot of resilience I'd say. The Canadian economy has done relatively well, better than most of us expected, and remember that there is no tariffs on any of our energy exports,' he said. 25% tariffs on Mexican goods target a small slice of trade Trump said last week he would enter into a 90-day negotiating period with Mexico, also one of America's largest trading partners. The current 25% tariff rates are staying in place, down from the 30% he had threatened earlier. But that 25% only applies to the fraction of Mexico's trade with the U.S. that isn't covered by the USMCA. Shortly after speaking with Trump on Thursday, President Claudia Sheinbaum said that within the 'new commercial world order,' Mexico was still the best positioned nation because of the free trade agreement. 'What's within (USMCA) has no tariff, with the exception of what we already know: autos, steel and aluminum; and what is outside the treaty has 25%,' Sheinbaum said. But Economy Secretary Marcelo Ebrard pointed out that under the USMCA no tariffs were paid on more than 84% of Mexico's trade with the United States. Most imports from Canada and Mexico are still protected by the USMCA, but the deal is up for review next year. U.S. Commerce Secretary Howard Lutnick said last month: 'I think the president is absolutely going to renegotiate USMCA.' Preserving the free trade pact will be critical for Canada and Mexico. 'It would be an incredible disruption to lose it especially if you lost it to the levels of tariffs Trump is imposing, 30%, 25% or even 20%. You can absorb a single digit tariff level across the board but you can't adjust that kind of increase,' Manley said. More than 75% of Canada's exports go to the U.S. while more than 80% of Mexico's exports go there. Manley said that depending on how the trade war plays out the risk to the USMCA is very high. 'Uncertainty in business is the enemy of decision making,' he said. Charging for access Carney said in a series of recent agreements with other countries that America is, in effect, charging for access to its economy. Manley said the investment thesis for Canada is pretty straightforward as Canada is rich in natural resources, has a skilled labor force, is open to immigration and has unfettered access to the U.S. market, the largest economy in the world. 'If that latter point is no longer the case, we've still got all the others, but we've got to really redevelop the investment thesis for attracting investment to Canada,' Manley said. Trump has some sector specific tariffs, known as 232 tariffs, that are having an impact. There is a 50% tariff on steel and aluminum imports and a 25% tariff on auto imports, though there is a carve-out for Canadian and Mexican made cars. 'Despite our advantages, certain major Canadian industries are being severely impacted by U.S. trade actions. These strategic sectors include autos, steel, aluminum, copper, pharmaceuticals, semiconductors, and of course, softwood lumber,' Carney said Tuesday. 'It is clear we cannot count or fully rely on what has been our most valued trading relationship for our prosperity.'
Business Wire
9 minutes ago
- Business Wire
Champion Homes Announces First Quarter Fiscal 2026 Results
TROY, Mich.--(BUSINESS WIRE)--Champion Homes, Inc. (NYSE: SKY) ('Champion Homes') today announced financial results for its first quarter ended June 28, 2025 ('fiscal 2026'). First Quarter Fiscal 2026 Highlights (compared to First Quarter Fiscal 2025) Net sales increased 11.7% to $701.3 million U.S. homes sold increased 6.5% to 6,965 Backlog decreased 11.9% to $302.5 million from the sequential fourth quarter of fiscal 2025 Average selling price ('ASP') per U.S. home sold increased 3.6% to $95,000 Gross profit margin expanded by 90 basis points to 27.1% Net income increased by 41.3% to $64.7 million Earnings per diluted share ('EPS') increased 43.0% to $1.13 Adjusted EBITDA increased 25.6% to $94.2 million Adjusted EBITDA margin expanded by 150 basis points to 13.4% Net cash generated by operating activities of $75.3 million during the quarter Repurchased $50.0 million of shares under the share repurchase program Closed on the previously announced Iseman Homes acquisition 'The Champion Homes team delivered strong financial results to start fiscal year 2026, driven by our customer-centric strategy and agile operational execution,' said Tim Larson, President and Chief Executive Officer of Champion Homes. "We are pleased with the results we were able to deliver in the first quarter given the dynamic market and consumer environment. We remain confident in our strategy and the demand for our homes, as reflected by our disciplined approach to capital allocation, including the closing of our acquisition of Iseman Homes and $50 million of share repurchases in the quarter." First Quarter Fiscal 2026 Results Net sales for the first quarter fiscal 2026 increased 11.7% to $701.3 million compared to the prior-year period. The number of U.S. homes sold in the first quarter fiscal 2026 increased 6.5% to 6,965 mainly driven by an increase in shipments to the community sales channel. The ASP per U.S. home sold increased 3.6% to $95,000 due to changes in product mix and increased prices on new homes sold through company-owned retail sales centers. The number of Canadian factory-built homes sold in the quarter increased to 250 homes compared to 167 homes in the prior-year period due to improving demand in certain markets. Gross profit increased by 15.6% to $189.8 million in the first quarter fiscal 2026 compared to the prior-year period. Gross profit margin was 27.1% of net sales, a 90-basis point expansion compared to 26.2% in the first quarter fiscal 2025. Gross margin expansion reflects higher ASPs on new homes sold through company-owned retail sales centers in the current quarter, and the unfavorable purchase accounting impact in the prior year related to the value of inventory acquired in the purchase of Regional Homes. Selling, general, and administrative expenses ('SG&A') in the first quarter fiscal 2026 increased to $111.3 million from $108.8 million in the same period last year. SG&A during the quarter increased due to higher variable compensation from higher sales volumes and profitability, costs associated with plant closures and the inclusion of Iseman Homes, partially offset by a charge of $7.9 million in the first quarter of fiscal 2025 for the change in the fair value of contingent consideration related to the acquisition of Regional Homes which did not reoccur in the current period. SG&A as a percentage of net sales was 15.9%, compared to 17.3% in the prior year period. Net income increased by 41.3% to $64.7 million for the first quarter fiscal 2026 compared to the prior-year period. The increase in net income was driven by higher sales and gross profit in the quarter. Adjusted EBITDA for the first quarter fiscal 2026 increased by 25.6% to $94.2 million compared to the first quarter fiscal 2025. Adjusted EBITDA margin for the quarter was 13.4%, compared to 11.9% in the prior-year period. As of June 28, 2025, Champion Homes had $605.3 million in cash and cash equivalents, a decrease of $5.0 million in the current quarter. The Company closed on the acquisition of Iseman Homes during the first quarter and repurchased and retired $50 million of its common stock under the previously announced repurchase program. On July 24, 2025, the Board of Directors refreshed the share repurchase authorization to provide for $150 million of potential future repurchases. On July 28, 2025, Champion Homes amended and extended the existing credit facility through 2030. This amendment enhances capacity for the Company's strategic priorities. Additional details are available in the Form 8-K filed with the Securities and Exchange Commission. Conference Call and Webcast Information: Champion Homes' management will host a conference call tomorrow, August 6, 2025, at 8:00 A.M. Eastern Time, to discuss Champion Homes' financial results and an update on current operations. Investors and other interested parties can listen to a webcast of the live conference call by logging onto the Investor Relations section of Champion Homes' website at The online replay will be available on the same website immediately following the call. The conference call can also be accessed by dialing (844) 426-3033 (domestic) or (412) 317-5185 (international). A telephonic replay will be available approximately three hours after the call by dialing (844) 512-2921, or for international callers, (412) 317-6671. The passcode for the live call and the replay is 10201208. The replay will be available until 11:59 P.M. Eastern Time on August 20, 2025. About Champion Homes, Inc.: Champion Homes, Inc. (NYSE: SKY) is a leading producer of factory-built housing in North America and employs approximately 9,000 people. With more than 70 years of homebuilding experience and 46 manufacturing facilities throughout the United States and western Canada, Champion Homes is well positioned with an innovative portfolio of manufactured and modular homes, ADUs, park-models and modular buildings for the single-family, multi-family, and hospitality sectors. In addition to its core home building business, Champion Homes provides construction services to install and set-up factory-built homes, operates a factory-direct retail business with 82 retail locations across the United States, and operates Star Fleet Trucking, providing transportation services to the manufactured housing and other industries from several dispatch locations across the United States. Champion Homes builds homes under some of the most well-known brand names in the factory-built housing industry including Champion Homes, Genesis Homes, Skyline Homes, Regional Homes, Athens Park Models, Dutch Housing, Atlantic Homes, Excel Homes, Homes of Merit, New Era, J. Redman Homes, ScotBilt Homes, Shore Park, Silvercrest, Titan Homes in the U.S. and Moduline and SRI Homes in western Canada. Presentation of Non-GAAP Financial Measures In addition to the results provided in accordance with U.S. generally accepted accounting principles ('U.S. GAAP') throughout this press release, Champion Homes has provided Non-GAAP financial measures, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income, and Adjusted EPS, (collectively the 'Non-GAAP Financial Measures') which present operating results on a basis adjusted for certain items. Champion Homes uses these Non-GAAP Financial Measures for business planning purposes and in measuring its performance relative to that of its competitors. Champion Homes believes that these Non-GAAP Financial Measures are useful financial metrics to assess its operating performance from period-to-period by excluding certain items that Champion Homes believes are not representative of its core business. These Non-GAAP Financial Measures are not intended to replace, and should not be considered superior to, the presentation of Champion Homes' financial results in accordance with U.S. GAAP. Champion Homes defines Adjusted EBITDA as net income or loss attributable to Champion Homes, Inc. plus expenses or minus income, (a) the provision for income taxes, (b) interest income or expense, net, (c) depreciation and amortization, (d) gain or loss from discontinued operations, (e) non-cash restructuring charges and impairment of assets, (f) equity in net earnings or losses of ECN, (g) charges related to the remediation of the water intrusion product liability claims; and (h) other non-operating income and costs, including but not limited to those costs for the acquisition and integration or disposition of businesses, including the change in fair value of contingent consideration, and idle facilities. Adjusted EBITDA Margin is calculated as Adjusted EBITDA divided by net sales reported in the income statements. Champion Homes defines Adjusted Net Income as net income or loss attributable to Champion Homes, Inc. plus expenses or minus income (net of tax where applicable), (a) gain or loss from discontinued operations, (b) non-cash restructuring charges and impairment of assets, (c) equity in net earnings or losses of ECN, (d) charges related to the remediation of estimated water intrusion product liability, and (e) other non-operating income or expense including, but not limited to those costs for the acquisition and integration or disposition of businesses, including the change in fair value of contingent consideration, and idle facilities. Champion Homes defines Adjusted EPS as Adjusted Net Income divided by shares outstanding. Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income and Adjusted EPS are not measures of earnings calculated in accordance with U.S. GAAP, and should not be considered an alternative to, or more meaningful than, net income or loss, net sales, operating income or earnings per share prepared on a U.S. GAAP basis. These Non-GAAP Financial Measures do not purport to represent cash flow provided by, or used in, operating activities as defined by U.S. GAAP. Champion Homes believes that similar Non-GAAP Financial Measures are commonly used by investors to evaluate its performance and that of its competitors. However, Champion Homes use of Non-GAAP Financial Measures may vary from that of others in its industry. The Non-GAAP Financial Measures are reconciled from the respective measure under U.S. GAAP in the tables below. Forward-Looking Statements Statements in this press release, including certain statements regarding Champion Homes' strategic initiatives, and future market demand are intended to be covered by the safe harbor for "forward-looking statements" provided by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by use of words such as "believe," "expect," "future," "anticipate," "intend," "plan," "foresee," "may," "could," "should," "will," "potential," "continue," or other similar words or phrases. Similarly, statements that describe objectives, plans, or goals also are forward-looking statements. Such forward-looking statements involve inherent risks and uncertainties, many of which are difficult to predict and are generally beyond the control of Champion Homes. We caution readers that a number of important factors could cause actual results to differ materially from those expressed in, implied, or projected by such forward-looking statements. Risks and uncertainties include regional, national and international economic, financial, public health and labor conditions, and the following: supply-related issues, including prices and availability of materials; changes in U.S. trade policies, including tariffs or other trade protection measures; labor-related issues; inflationary pressures in the North American economy; the cyclicality and seasonality of the housing industry and its sensitivity to changes in general economic or other business conditions; demand fluctuations in the housing industry, including as a result of actual or anticipated increases in homeowner borrowing rates; the possible unavailability of additional capital when needed; competition and competitive pressures; changes in consumer preferences for our products or our failure to gauge those preferences; quality problems, including the quality of parts sourced from suppliers and related liability and reputational issues; data security breaches, cybersecurity attacks, and other information technology disruptions; the potential disruption of operations caused by the conversion to new information systems; the extensive regulation affecting the production and sale of factory-built housing and the effects of possible changes in laws with which we must comply; the potential impact of natural disasters on sales and raw material costs; the risks associated with mergers and acquisitions, including integration of operations and information systems; periodic inventory adjustments by, and changes to relationships with, independent retailers; changes in interest and foreign exchange rates; insurance coverage and cost issues; the possibility that all or part of our intangible assets, including goodwill, might become impaired; the possibility that all or part of our investment in ECN Capital Corp. ("ECN") might become impaired; the risks relating to the material weakness, including remediation actions, we previously identified in our internal control over financial reporting; the possibility that our risk management practices may leave us exposed to unidentified or unanticipated risks; the potential disruption to our business caused by public health issues, such as an epidemic or pandemic, and resulting government actions; and other risks set forth in the 'Risk Factors' section, the 'Legal Proceedings' section, the 'Management's Discussion and Analysis of Financial Condition and Results of Operations' section, and other sections, as applicable, in our Annual Reports on Form 10-K, including our Annual Report on Form 10-K for the fiscal year ended March 29, 2025 previously filed with the Securities and Exchange Commission ('SEC'), as well as in our Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, filed with or furnished to the SEC. If any of these risks or uncertainties materializes or if any of the assumptions underlying such forward-looking statements proves to be incorrect, then the developments and future events concerning Champion Homes set forth in this press release may differ materially from those expressed or implied by these forward-looking statements. You are cautioned not to place undue reliance on these statements, which speak only as of the date of this release. We anticipate that subsequent events and developments will cause our expectations and beliefs to change. Champion Homes assumes no obligation to update such forward-looking statements to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events, unless obligated to do so under the federal securities laws. CHAMPION HOMES, INC. CONDENSED CONSOLIDATED INCOME STATEMENTS (Unaudited, dollars in thousands, except per share amounts) Three months ended June 28, 2025 June 29, 2024 Net sales $ 701,318 $ 627,779 Cost of sales 511,488 463,564 Gross profit 189,830 164,215 Selling, general, and administrative expenses 111,309 108,827 Operating income 78,521 55,388 Interest (income), net (4,536 ) (4,249 ) Other (income) (1,220 ) (1,219 ) Income before income taxes 84,277 60,856 Income tax expense 17,699 13,719 Net income before equity in net loss of affiliates 66,578 47,137 Equity in net loss of affiliates 585 1,343 Net income 65,993 45,794 Net income attributable to non-controlling interest 1,306 — Net income attributable to Champion Homes, Inc $ 64,687 $ 45,794 Net income per share: Basic $ 1.13 $ 0.79 Diluted $ 1.13 $ 0.79 Expand CHAMPION HOMES, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited, dollars in thousand) Three months ended June 28, 2025 June 29, 2024 Cash flows from operating activities Net income $ 65,993 $ 45,794 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 11,902 10,612 Amortization of deferred financing fees 93 93 Equity-based compensation 4,978 6,090 Deferred taxes 507 (653 ) Loss on disposal of property, plant, and equipment 29 43 Foreign currency transaction (gain) loss (796 ) 212 Equity in net loss of affiliates 585 1,343 Dividends from equity method investment 236 522 Change in fair value of contingent consideration — 7,912 Change in assets and liabilities: Accounts receivable (14,910 ) (8,088 ) Floor plan receivables (144 ) (10,603 ) Inventories 5,450 (1,375 ) Other assets (4,333 ) 5,541 Accounts payable 2,697 10,950 Accrued expenses and other liabilities 3,015 16,223 Net cash provided by operating activities 75,302 84,616 Cash flows from investing activities Additions to property, plant, and equipment (8,901 ) (10,712 ) Cash paid for equity method investment (447 ) — Proceeds from floor plan loans — 1,606 Acquisition, net of cash acquired (24,555 ) — Proceeds from disposal of property, plant, and equipment 39 24 Net cash (used in) investing activities (33,864 ) (9,082 ) Cash flows from financing activities Changes in floor plan financing, net (2,407 ) 1,573 Payments on long term debt (684 ) (1 ) Payments for repurchase of common stock (50,000 ) (20,000 ) Stock option exercises 3,550 75 Tax payments for equity-based compensation (2,323 ) (2,251 ) Net cash (used in) financing activities (51,864 ) (20,604 ) Effect of exchange rate changes on cash and cash equivalents 5,415 (1,060 ) Net (decrease) increase in cash and cash equivalents (5,011 ) 53,870 Cash and cash equivalents at beginning of period 610,338 495,063 Cash and cash equivalents at end of period $ 605,327 $ 548,933 Expand CHAMPION HOMES, INC. RECONCILIATION OF NET INCOME TO ADJUSTED EBITDA (Unaudited, dollars in thousand) June 28, 2025 June 29, 2024 Net income attributable to Champion Homes, Inc. $ 64,687 $ 45,794 Income tax expense 17,699 13,719 Interest (income), net (4,536 ) (4,249 ) Depreciation and amortization 11,902 10,612 EBITDA 89,752 65,876 Equity in net loss of ECN 459 1,179 Change in fair value of contingent consideration — 7,912 Plant closure costs 3,252 — Transaction costs 714 — Adjusted EBITDA $ 94,177 $ 74,967 Expand CHAMPION HOMES, INC. (Unaudited, dollars and shares in thousands, except per share amounts) (Certain amounts shown net of tax, as applicable) Three months ended June 28, 2025 June 29, 2024 Net income attributable to Champion Homes, Inc. $ 64,687 $ 45,794 Adjustments: Equity in net loss of ECN 459 1,179 Change in fair value of contingent consideration — 6,088 Plant closure costs 2,843 — Transaction costs 565 — Adjusted net income attributable to Champion Homes, Inc. $ 68,554 $ 53,061 Adjusted basic net income per share $ 1.20 $ 0.92 Adjusted diluted net income per share $ 1.19 $ 0.91 Average basic shares outstanding 57,105 57,865 Average diluted shares outstanding 57,444 58,335 Expand
San Francisco Chronicle
4 hours ago
- San Francisco Chronicle
What to know about the Titan sub and its tragic final dive to the Titanic
The Titan submersible was crushed by intense water pressure beneath the North Atlantic Ocean in the summer of 2023. A catastrophic implosion instantly killed the four passengers and pilot, Stockton Rush, who was also the CEO of the company that owned the vessel. Two years later, the U.S. Coast Guard released a lengthy report saying the disaster could have been prevented, but deeply flawed safety procedures and efforts to avoid oversight had effectively doomed the vessel and all aboard. What was the Titan? Titan had been making voyages to the Titanic shipwreck since 2021. Owned by OceanGate, a company based in Washington state, the final dive came on June 18, 2023. The submersible was reported overdue that afternoon, and ships, planes and equipment were rushed to the scene about 435 miles (700 kilometers) south of St. John's, Newfoundland. The Titanic rests on the ocean floor about 12,500 feet (3,800 meters) below the surface. Experts had cautioned that the submersible's hull could implode under intense pressure at extreme depths. The craft's design OceanGate touted Titan's roomier cylinder-shaped cabin made of a carbon-fiber, although experts say it was a departure from the sphere-shaped cabins made of titanium used by most submersibles. A sphere is a 'perfect shape' because water pressure is exerted equally on all areas, said Chris Roman, a professor at the University of Rhode Island's Graduate School of Oceanography. Titan had made more than two dozen deep-sea dives, which put repeated stress on the hull, said Jasper Graham-Jones, an associate professor of mechanical and marine engineering at the University of Plymouth in the United Kingdom. Investigators also found that Titan was stored outdoors over the Canadian winter, where its hull was exposed to temperature fluctuations that compromised the integrity of the vessel. The water pressure at the Titanic is roughly 400 atmospheres or 6,000 pounds per square inch. Arun Bansil, a Northeastern University physics professor, likened the pressure to the force of a "whale biting on somebody.' 'The passengers probably would have had no idea what happened,' Bansil said in 2023. What investigators said OceanGate had a culture of downplaying, ignoring and even falsifying key safety information to improve its reputation and dodge scrutiny from regulators, Coast Guard investigators found. OceanGate ignored 'red flags' and had a 'toxic workplace culture,' while its mission was hindered by lack of domestic and international framework for submersible operations, the report says. Numerous OceanGate employees have come forward since the implosion to support those claims. 'By strategically creating and exploiting regulatory confusion and oversight challenges, OceanGate was ultimately able to operate TITAN completely outside of the established deep-sea protocols,' the report found. In addition to Rush, the implosion killed French explorer Paul-Henri Nargeolet, British adventurer Hamish Harding and two members of a prominent Pakistani family, Shahzada Dawood and his son Suleman Dawood.
