Latest news with #BryanHughes
Newsweek
13-07-2025
- Business
- Newsweek
Texas Housing Market To Change in September: What To Know
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Texas lawmakers trying to solve the state's housing affordability crisis passed a bill during the last legislative session that experts say will be a "game-changer" for the development of multifamily homes. Senate Bill 840 or SB 840, which was introduced by Republican state Senator Bryan Hughes and signed into law by Governor Greg Abbott in June, would streamline the process of turning non-residential commercial buildings in the state into mixed-use and multi-family residential ones. Under the new legislation, any land that is already classified as a zone for office, commercial, retail, warehouse or existing mixed uses could be turned into mixed-use residential housing without the need for a zone change. Essentially, the legislation does away with a process that some have complained can be time-consuming and expensive—at least in some cases. The mixed-use housing and office property The Republic is seen undergoing construction downtown on October 9, 2023, in Austin, Texas. The mixed-use housing and office property The Republic is seen undergoing construction downtown on October 9, 2023, in Austin, To Know About The Bill "SB 840 aims to tackle the state's widening housing shortage by allowing underused commercial land and buildings to be repurposed for multifamily development 'by right,'" Fawaz Bham, real estate law expert and partner at Dallas-based law firm Hunton Andrews Kurth, told Newsweek. "More pointedly, it rebalances the power dynamic between developers who are eager to create new mixed-use projects or convert existing commercial properties against the desire of municipalities to closely negotiate, guide, and shape build sites in their cities," he said. The bill applies only to cities with more than 150,000 residents that are in a county with more than 300,000 residents. That means that the legislation will impact less than 20 cities, including the Texas capital, Austin, where proposals to add thousands of units to two sites—almost 900 residential units 200 East Riverside Drive and up to 2,400 in Anderson Square—have already been approved. But SB 840 does more than reforming zoning regulation. It also prohibits certain restrictions on density, building height and parking for multifamily and mixed-use developments. Under the bill, municipalities cannot require more than one parking space per dwelling unit or a multilevel parking structure. They must allow the multifamily density to be the highest allowed in the municipality or 36 units per acre, whichever is greater; and the heights limits must allow the greater of the highest height allowed on the side by the zoning code or 45 feet. "By removing these barriers for the repurposing of these vacant and underutilized properties, the legislature has opened the door to a significant opportunity for developers to meet the ever-growing housing needs in Texas," Clay B. Pulliam, partner at Dallas-based law firm Troutman Pepper Locke, wrote in a recent report assessing the bill. The bill is expected to go into effect on September 1, 2025. Newsweek contacted Hughes for comment by email on July 4 for comment. How The Bill Could Change Texas Real estate experts believe that the bill will spark a "revolution" in the Lone Star State's multifamily market, where it is being hailed as a likely "game-changer." The most significant impact of the new legislation would be to allow developers in the state to utilize vacant or underutilized office buildings—which became a problem for some cities in the state, like Houston, during the pandemic years—retail centers and warehouses for multifamily housing. "There are suburban and infill areas with empty big boxes or underutilized retail and office buildings which have become acquisition targets as developers realize the potential upside of SB 840 and other companion bills that have recently passed," Bham said. Julia Parenteau, Director of Public Policy at Texas Realtors, told Newsweek: "While commercial conversions are a more niche issue, I'd anticipate the allowance of mixed-use and multi-family by right in certain zoning areas will have a positive impact by way of more multi-family housing developments going onto the market in the coming years. "Additionally, zoning by right shaves approximately 18 months off the time frame for development, allowing the conversation to focus on what amenities and designs the municipality wants or needs in the development, not whether the project is feasible." This infusion of new inventory could, in turn, help first-time and lower-income homebuyers in the state, as multi-family homes tend to be more affordable than single-family housing. "SB 840 is part of a broader suite of bills that the legislature passed, all designed to infuse the market with additional supply so that affordability improves for Texans," Emily Brizzolara-Dove, a policy adviser at Texas 2036, a nonprofit, nonpartisan public policy organization dedicated to improving lives and opportunities for all Texans through 2036, told Newsweek. "Home prices in Texas have gone up 35 percent, 40 percent since the beginning of the pandemic, and that is simply unsustainable," she said. "Housing affordability is really one of our biggest competitive advantages in the state, but that is a very tenuous advantage. Ohio has cheap houses, too. "So, if our housing supply gets to the point where families are really cost burdened by their rent and by their mortgage, we are at risk of losing that competitive advantage." SB 840 helps Texas build more housing where people want to live, Brizzolara-Dove said, by essentially reducing red tape. The big impact of the new legislation, she said, is going to be allowing residential in commercial, retail and warehouse zones—areas that are already developed and which would become more livable, more walkable, and more-resident friendly once more homes are introduced at little to no additional cost, as key infrastructure is already in place. "When you can do something that will make a really significant impact on housing prices for Texas families, and you can do it with no fiscal note, then you're in a good spot," Brizzolara-Dove said. 'The Devil Is In The Details' Bham, however, said that whether the legislation would work to fix the Lone Star State's shortage of affordable homes would still depend on how the market reacts to it. By cutting red tape and slashing costs, SB 840 should be able to attract developers willing to pursue new housing projects, but they will still need to ensure that any project is "still economically fruitful, financially viable, and sustainable in the long-run to secure investors, financing, and—ultimately—paying renters," Bham said. Real estate experts also worry that the bill could also have a negative impact on the Texas housing market. While Pulliam says that the bill does "an admirable job of addressing the bottlenecks and administrative burden of converting properties to residential uses," he warned that the legislation might have some unintended consequences. "Zoning ordinances are often cumbersome and sometimes antiquated, but the framework that these ordinances provide gives some degree of certainty to property owners, residents and the municipalities themselves," he said. "For example, no consideration has been given to the impact on public schools when these additional projects result in an influx of students. Will dispensing with the need for traffic studies or traffic mitigation measures create more congestion? Developers who have invested heavily in entitling their multifamily projects must now compete with developers who can skip that entire process. Will owners of existing multifamily or mixed-use projects be at a disadvantage to those who can now bypass barriers to entry quickly and without cost?" he asked. Weston B. Rockers and Benjamin W. McKay of Polsinelli, on the other hand, are concerned about the potential for a sudden surge in converted multifamily to devalue existing multifamily properties and/or saturate the multifamily housing market in some municipalities. "As multifamily supply increases, developers relying on exclusive and/or isolated multifamily zoning classifications will experience less demand," the two wrote in a June report. At the same time, the single-family market could also suffer, they say, as reclassifying commercial sites to multifamily "has the potential to devalue single-family homes, which were planned or developed in close proximity to commercial developments." Brizzolara-Dove remains optimistic about the impact of the bill, even as she admits that "the devil is in the details when it comes to implementing these bills, and there is no state agency oversight of them." It will be "all down" to the municipalities, she said: "We will be able to see in a year from now how the cities have implemented [the legislation], if they are fully embracing the law and if changes would need to be made—and they likely will."
Yahoo
26-06-2025
- Business
- Yahoo
WGO Q2 Deep Dive: Margin Pressures Persist as Guidance Cut Amid Weak RV Demand
RV Manufacturer Winnebago (NYSE:WGO) missed Wall Street's revenue expectations in Q2 CY2025, with sales falling 1.4% year on year to $775.1 million. On the other hand, the company's outlook for the full year was close to analysts' estimates with revenue guided to $2.75 billion at the midpoint. Its non-GAAP profit of $0.81 per share was 2.2% above analysts' consensus estimates. Is now the time to buy WGO? Find out in our full research report (it's free). Revenue: $775.1 million vs analyst estimates of $781.4 million (1.4% year-on-year decline, 0.8% miss) Adjusted EPS: $0.81 vs analyst estimates of $0.79 (2.2% beat) Adjusted EBITDA: $46.5 million vs analyst estimates of $44.72 million (6% margin, 4% beat) The company dropped its revenue guidance for the full year to $2.75 billion at the midpoint from $2.9 billion, a 5.2% decrease Management lowered its full-year Adjusted EPS guidance to $1.45 at the midpoint, a 55.4% decrease Operating Margin: 3.9%, down from 5.5% in the same quarter last year Market Capitalization: $791.4 million Winnebago faced a challenging Q2, with the market responding negatively to its results as ongoing softness in consumer demand and dealer ordering weighed on performance. Management attributed the year-on-year revenue decline and margin compression to a mix shift toward lower-priced travel trailers and continued operational inefficiencies, particularly in its Winnebago-branded Motorhome business. CEO Michael Happe cited "notable downshift in RV activity from consumers and dealers" as a headwind, while also noting that targeted cost actions and a renewed focus on operational discipline are underway. The company also experienced higher warranty costs, which further pressured gross margins during the quarter. Looking ahead, Winnebago's revised full-year outlook reflects cautious expectations around continued market headwinds, including persistent consumer uncertainty and tariff-related cost pressures. Management is prioritizing margin recapture efforts through a refreshed product lineup and operational improvements, with an eye toward stabilizing profitability into 2026. CFO Bryan Hughes emphasized that "modest price increases" are planned to offset tariff impacts, but acknowledged that the volume effect of these actions remains uncertain. The company is also closely monitoring dealer inventory health and expects a slow recovery in wholesale shipments, indicating a measured approach to production and cost management in the coming quarters. Management focused on operational turnaround efforts, product development, and inventory management as key responses to ongoing industry weakness and margin pressures. Product mix shift: The introduction of more affordable Grand Design travel trailers drove higher unit volumes but lowered average selling prices, impacting both revenue and gross margin. Operational inefficiencies: The Winnebago-branded Motorhome business continued to experience margin pressure due to excess inventory, higher discounts, and production challenges, prompting decisive actions to reduce output and improve working capital. Marine segment outperformance: While the RV business struggled, the Barletta and Chris-Craft marine brands posted higher unit sales and gained retail market share, benefiting from disciplined inventory management and new product introductions, such as the Catalina 31 and refreshed Aria lineup. Tariff management strategies: Leadership outlined active efforts to mitigate tariff costs by working with suppliers and adjusting sourcing, but acknowledged a remaining risk of $0.50–$0.75 per share in earnings exposure for the next year if further pricing or mitigation steps fall short. Market share dynamics: Despite weak industry demand, Winnebago gained share in key RV categories, especially with the Grand Design Lineage series, and saw continued momentum in towables and marine, supporting long-term brand positioning. Winnebago's outlook is shaped by expectations for continued industry weakness, targeted margin improvement initiatives, and ongoing tariff uncertainty. Margin recapture plan: Management is implementing a comprehensive strategy to improve profitability, including refreshing the Winnebago Motorhome product line, optimizing the manufacturing footprint, and streamlining operations. These actions are expected to drive margin recovery beginning in 2026, though near-term headwinds remain. Tariff and pricing impacts: The company plans modest price increases across product lines to offset residual tariff costs but warns that further escalation could pressure earnings if not fully mitigated. The effect of these price increases on sales volumes is uncertain, with management monitoring for potential demand elasticity. Dealer inventory health: Maintaining disciplined production and inventory management is a priority, with a long-term goal of achieving a two-times inventory turnover ratio for dealers. This approach may limit revenue growth in the near term but is intended to support long-term channel health and reduce competitive discounting. Looking forward, the StockStory team will be monitoring (1) the pace and effectiveness of operational improvements in the Winnebago-branded Motorhome turnaround, (2) the impact of tariff-driven price increases on both dealer and consumer demand, and (3) ongoing market share trends in marine and RV segments as new products are launched. Updates on cost mitigation efforts and inventory discipline will also be key indicators of progress. Winnebago currently trades at $28.87, down from $31.29 just before the earnings. Is the company at an inflection point that warrants a buy or sell? See for yourself in our full research report (it's free). Market indices reached historic highs following Donald Trump's presidential victory in November 2024, but the outlook for 2025 is clouded by new trade policies that could impact business confidence and growth. While this has caused many investors to adopt a "fearful" wait-and-see approach, we're leaning into our best ideas that can grow regardless of the political or macroeconomic climate. Take advantage of Mr. Market by checking out our Top 5 Growth Stocks for this month. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Exlservice (+354% five-year return). Find your next big winner with StockStory today.
Yahoo
10-06-2025
- Automotive
- Yahoo
Winnebago Industries to Announce Third Quarter Fiscal 2025 Financial Results on June 25, 2025
EDEN PRAIRIE, Minn., June 10, 2025 (GLOBE NEWSWIRE) -- Winnebago Industries, Inc. (NYSE: WGO), a leading outdoor lifestyle product manufacturer, plans to issue its third quarter fiscal 2025 financial results before the opening of the New York Stock Exchange on Wednesday, June 25, 2025. At 9:00 a.m. CT, the Company will conduct a conference call hosted by Michael Happe, President and Chief Executive Officer, and Bryan Hughes, Senior Vice President and Chief Financial Officer. You are invited to listen to the call via the 'Investors' section of the Company's website, The event will be archived and available for replay for up to one year. To access the replay, click on About Winnebago Industries Winnebago Industries, Inc. is a leading North American manufacturer of outdoor lifestyle products under the Winnebago, Grand Design, Chris-Craft, Newmar and Barletta brands, which are used primarily in leisure travel and outdoor recreation activities. The Company builds high-quality motorhomes, travel trailers, fifth-wheel products, outboard and sterndrive powerboats, pontoons, and commercial community outreach vehicles. Committed to advancing sustainable innovation and leveraging vertical integration in key component areas, Winnebago Industries has multiple facilities in Iowa, Indiana, Minnesota and Florida. The Company's common stock is listed on the New York Stock Exchange and traded under the symbol WGO. For access to Winnebago Industries' investor relations material or to add your name to an automatic email list for Company news releases, visit Contacts Investors: Ray Posadasir@ Media: Dan Sullivanmedia@ in to access your portfolio
Yahoo
30-05-2025
- General
- Yahoo
Texas House kills drag story time bill again
AUSTIN (KXAN) — For the second consecutive session, legislation targeting drag story time events died in the Texas House of Representatives. Senate Bill 18 missed a key deadline this week to be fully considered on the House floor, effectively ending its chances of becoming state law. Lt. Gov. Dan Patrick identified the legislation as a priority this session after a similar measure died in the House in 2023. Before stalling in Texas Senate, 'homosexual conduct' bill made legislative history The bill called for stripping public funding for any library that hosted a children's reading event led by a drag performer. Supporters argued it was needed to protect kids from the confusion of seeing someone dressed in drag and concerns about them being exposed to inappropriate content. However, opponents accused lawmakers of using this to crack down further on the LGBTQ+ community and said it would do nothing to actually protect Texas children. The legislation passed the Texas Senate in February along a party line vote, and a House committee then took up the legislation in May and recommended it for consideration in the full chamber. Even though SB 18 made it onto the intent calendar Tuesday, the House took no action on it in the rush of the final few days of the session. Sen. Bryan Hughes, R-Mineola, reintroduced the bill this year after the previous iteration of it met a similar fate in the lower chamber two years ago. The legislation advanced further than it did then because a House committee actually debated the bill, which never happened in 2023. KXAN reached out Thursday to Hughes' office for comment about SB 18 dying this session and asked whether he would file it again when lawmakers reconvene in 2027. This story will be updated whenever Hughes shares a response. Reporting about his previous proposal, Senate Bill 1601, was featured in a KXAN investigative project called 'OutLaw: A Half-Century Criminalizing LGBTQ+ Texans.' It looked in-depth at the historic number of bills filed in the 2023 session impacting the state's LGBTQ+ community. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
30-05-2025
- General
- Yahoo
Texas Lawmakers Crush Most Red Flag Firearm Regulations
(Texas Scorecard) – Lawmakers in the Texas House have approved a measure to preemptively prohibit the state from adopting most firearm-related red flag laws. Senate Bill 1362, filed by State Sen. Bryan Hughes (R–Mineola) in the Senate and carried by State Rep. Cole Hefner (R–Mount Pleasant) in the House, was finally passed in an 86-53-1 vote on Wednesday. The measure would disallow judges from issuing most extreme risk protection orders, also known as 'red flag' orders or ERPOs, which prevent an individual from owning or purchasing a firearm during legal proceedings. It would also bar local jurisdictions from accepting federal funding to implement or enforce an ERPO. An individual found to be in violation could receive a state jail felony conviction. Under the measure, the only instances in which a judge could prevent an individual from owning or purchasing a gun during legal proceedings would be in certain firearm-related cases or through existing protective orders. While Texas courts currently do not issue ERPOs, the measure is intended to prevent the practice, as an increasing number of states have begun to adopt it. According to Ballotpedia, as of May 2025, 21 states—including California, Colorado, New Mexico, Florida, Indiana, Maryland, and New York—have explicitly enacted laws authorizing courts to issue ERPOs. SB 1362 'reinforces Texas' commitment to protect the rights of law-abiding citizens, while ensuring due process for all Texans,' Hefner said Tuesday when laying out the measure on the floor. State Rep. Wes Virdell (R–Brady) shared a story about law enforcement officers in Maryland who visited 61-year-old Gary J. Willis' house in the early morning to confiscate his firearms with 'no actual evidence or due process.' The visit took a turn after Willis resisted the officers. He was shot and died from his injuries. Virdell also cited research from the RAND Corporation that summarized various studies on the effectiveness of ERPOs. Overall, the evidence showed inconclusive effectiveness. After a lengthy point of order, House Democrats proposed a slate of amendments that ultimately failed, including several by State Rep. Vikki Goodwin (D–Austin) seeking to create new exceptions and strike certain provisions. The only amendment eventually approved was one by Hefner clarifying that existing domestic violence protective orders preventing the purchase or ownership of firearms are not at risk under SB 1362. State Rep. Erin Zwiener (D–Driftwood) questioned Hefner about the necessity of passing the measure. 'So, I think as I understand it, right now, it would take a law by the State of Texas—us passing a law—for there to be extreme risk protective orders. And after this bill is passed, it would take a law from the State of Texas for us to have extreme risk protective orders,' said Zwiener. 'Well, a rational person would see it that way,' responded Hefner. 'But I do believe we've seen many cities and judges and prosecutors skirt the law, manipulate it, or work around it, come up with new things that we have to come down here and chase after them to try to rein them back in.' The measure will now be sent back to senators, who are expected to concur with the limited changes ultimately approved by representatives. Senators initially passed SB 1362 in late March. Texas Gun Rights President Chris McNutt told Texas Scorecard that lawmakers' passage of the measure was 'long overdue and will help further protect Texans from future anti-gun administrations in D.C.' He also thanked Hughes, Hefner, State Rep. Briscoe Cain (R–Deer Park), and House Speaker Dustin Burrows (R–Lubbock) for helping to push SB 1362 across the finish line.
