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Business Wire
08-07-2025
- Business
- Business Wire
United Homes Group, Inc. Reports Preliminary 2025 Second Quarter Unit Statistics
COLUMBIA, S.C.--(BUSINESS WIRE)--United Homes Group, Inc. (the 'Company') (NASDAQ: UHG) today announced preliminary operational unit statistics for the quarter and year ended June 30, 2025. The following table provides a summary of the Company's net new orders, home starts, and home closings: Three Months Ended June 30, Six Months Ended June 30, 2025 2024 % Change 2025 2024 % Change Net new orders 304 323 (5.9 )% 600 707 (15.1 )% Starts 357 347 2.9 % 605 623 (2.9 )% Closings 303 337 (10.1 )% 555 648 (14.4 )% Expand The following table provides a summary of the Company's backlog, speculative home, and model home inventory: % Change Period-over-Period Backlog 1 Spec homes Model homes Total Not yet started 33.3 % NM 2 NM 2 33.3 % Homes under construction (2.6 )% 9.8 % NM 2 11.8 % Finished homes (33.8 )% (55.6 )% (33.3 )% (46.0 )% Total (18.5 )% (19.5 )% 23.3 % (17.6 )% _______________ 1 Backlog inventory consists of homes that are under a sales contract but have not closed. Backlog may be impacted by customer cancellations. 2 NM - Not Meaningful Expand 'Net new orders declined 6% year-over-year in the second quarter as improvement in our sales pace was offset by a 10% decline in active community count over the same time frame,' stated Chief Executive Officer Jack Micenko. 'This decline in community count is expected to reverse in the second half of 2025 as we have a number of new communities coming online, which should translate into a double-digit increase in active communities in the second half of the year.' 'Additionally, our previously highlighted product refresh initiative continues to drive margin improvement, with refreshed product gross margins trending approximately 300 basis points higher than legacy product margins in the second quarter,' added Mr. Micenko. 'We continue to expect the combination of new community openings and the growing mix of refreshed product in our closings to result in year-over-year gross margin improvement in 2025.' 'The reduction in active communities has also resulted in a decline in closings year-over-year,' shared the Company's Chief Financial Officer Keith Feldman. 'However, as Jack mentioned, we expect community count to increase in the back half of the year which has driven the 3% increase in starts year-over-year.' About United Homes Group, Inc. The Company is a publicly traded residential builder headquartered near Columbia, SC. The Company focuses on southeastern markets with active communities in South Carolina, North Carolina and Georgia. The Company employs a land-light operating strategy with a focus on the design, construction and sale of entry-level, first, second and third move-up single-family houses. The Company principally builds detached single-family houses, and, to a lesser extent, attached single-family houses, including duplex houses and town houses. The Company seeks to operate its homebuilding business in high-growth markets, with substantial in-migrations and employment growth. Under its land-light lot operating strategy, the Company controls its supply of finished building lots through lot option contracts with third parties, related parties, and land bank partners, which provide the Company with the right to purchase finished lots after they have been developed. This land-light operating strategy provides the Company with the ability to amass a pipeline of lots without the risks associated with acquiring and developing raw land. Forward-Looking Statements Certain statements contained in this earnings release, other than historical facts, may be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the 'Securities Act') and Section 21E of the Securities Exchange Act of 1934, as amended (the 'Exchange Act'). We intend for all such forward-looking statements to be covered by the applicable safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Exchange Act, as applicable. Such forward-looking statements can generally be identified by our use of forward-looking terminology such as 'may,' 'will,' 'expect,' 'intend,' 'anticipate,' 'estimate,' 'believe,' 'seek,' 'continue,' or other similar words. Any such forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which we operate, and beliefs of, and assumptions made by, our management and involve uncertainties that could significantly affect our financial results. Such statements include, but are not limited to, statements about our future financial performance, strategy, future operations, future operating results, plans and objectives of management. Such statements are subject to known and unknown risks and uncertainties, which could cause actual results to differ materially from those projected or anticipated, including, without limitation: disruption in the terms or availability of mortgage financing or an increase in the number of foreclosures in our markets; volatility and uncertainty in the credit markets and broader financial markets; a slowdown in the homebuilding industry or changes in population growth rates in our markets; shortages of, or increased prices for, labor, land or raw materials used in land development and housing construction, including due to changes in trade policies; increases in interest rates or inflationary pressures; our ability to execute our business model, including the success of our operations in new markets and our ability to expand into additional new markets; our ability to identify and successfully execute on potential strategic alternatives; our ability to successfully integrate homebuilding operations that we acquire; our ability to realize the expected results of strategic initiatives; delays in land development or home construction resulting from natural disasters, adverse weather conditions or other events outside our control; changes in applicable laws or regulations; the outcome of any legal proceedings; our ability to continue to leverage our land-light operating strategy; the ability to maintain the listing of our securities on Nasdaq or any other exchange; and the possibility that we may be adversely affected by other economic, business or competitive factors. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release and are not intended to be a guarantee of our performance in future periods. We cannot guarantee the accuracy of any such forward-looking statements contained in this release, and we do not intend to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. For further information regarding other risks and uncertainties associated with our business, and important factors that could cause our actual results to vary materially from those expressed or implied in such forward-looking statements, please refer to the factors listed and described under 'Management's Discussion and Analysis of Financial Condition and Results of Operations' and the 'Risk Factors' sections of the documents we file from time to time with the U.S. Securities and Exchange Commission, including, but not limited to, our Annual Report on Form 10-K and our quarterly reports on Form 10-Q, copies of which may be obtained from our website at
Yahoo
28-05-2025
- Business
- Yahoo
Mikro-Technik selects McCormick County to establish first North American operation
McCORMICK COUNTY, S.C. (WJBF) – Mikro-Technik, a natural fiber manufacturer headquartered in Germany, announced Tuesday it has selected McCormick County, S.C. to establish its first operation in North America. According to a statement from the Office of the Governor Henry McMaster on May 27, Mikro-Technik is leasing and upfitting the facility located at 8463 Highway 28/221 in Plum Branch. Mikro-Technik processes cellulose fiber into additives for the food and pet food industries. 'Establishing our first North American facility in McCormick County marks an exciting milestone for Mikro-Technik,' said CEO K. Weingarten. 'This investment allows us to better serve our customers across the American continent, while also contributing to the local economy.' The $3.2 million-dollar investment is expected to bring 27 new jobs to the area. 'On behalf of the county council and the citizens of McCormick County, we welcome Mikro-Technik to our community,' said McCormick County Council Chairman Bernie Hamby. He added, 'It is exciting to see this company lease and upfit the McCormick County speculative building to create jobs and provide an economic boost for McCormick County.' Operations are expected to be online in the third quarter of 2025. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
New York Times
02-05-2025
- Entertainment
- New York Times
Galleries, and Collectors, See Chances to Connect at Frieze New York
Andrew Edlin Gallery has been operating since 2001 in New York City, with a particular specialty in self-taught makers. One, for instance, the American outsider artist Henry Darger (1892-1973), has works in the permanent collections of the Museum of Modern Art and the Art Institute of Chicago; Andrew Edlin has represented his estate since 2006. Given its location and reputation, then, why would the gallery need a booth at Frieze New York, too? 'There's no getting around it,' Edlin said. 'More people will see a work at a fair in three or four days than will come into your gallery in 10 years.' Hence his participation in Frieze New York, running at the Shed from May 8 to 11 with 67 galleries, including first-time exhibitors King's Leap of New York; Lodovico Corsini of Brussels; and Voloshyn Gallery of Miami and Kyiv, Ukraine. 'In so many ways, it's a mandatory part of the art ecosystem,' said Edlin, who has an even deeper investment in fairs than other dealers, since he is also the owner of the Outsider Art Fair, which takes place in late winter in New York. 'I understand when people say they're doing fewer fairs,' Edlin said, referring to a sentiment among some dealers. 'It's not always the most dignified way to present an exhibition, but kudos to them if they are able to pass on such an opportunity.' As an example of the power of the Frieze platform, Edlin pointed to last year's edition of the fair, when he showed a work by Beverly Buchanan (1940-2015), the pastel 'Dataw Island, S.C.' (1993). Buchanan grew up in South Carolina and explored Southern traditions in her paintings and sculptures. The noted collector Agnes Gund, a life trustee of the Museum of Modern Art, bought the work after seeing it at Frieze's V.I.P. preview in 2024. 'She gave it to MoMA,' Edlin said of the work, which went on view in the fall and is still on the walls. 'The most prominent place in the art world. It doesn't get much better than that.' This year, Edlin's booth will have works by several artists including the self-taught painters Abraham Lincoln Walker (1921-1993) and Frank Walter (1926-2009), who were roughly contemporaries. The latter artist, who lived in Antigua, is represented by the undated oil 'Untitled (Figure Clasping Bottle),' among other works. Gund was not the only one buying last year; another collector was Kim Manocherian, who lives in Manhattan and has a large contemporary trove particularly stocked with work by women artists like the pastel specialist Paula Rego (1935-2022), who worked in London. Manocherian said she purchased the Nate Lowman oil 'Aira's Ovenbird' (2024) from David Zwirner gallery at Frieze New York last year. 'I can't help myself,' she said of the temptations of a fair in her own city; she said she has been to every edition of the fair. 'It's hard for me to look at art without buying it — I usually pray I don't see something I like.' Manocherian also patronizes other fairs including Frieze London; Art Basel's editions in Miami Beach and Paris; and Zona Maco in Mexico City. Though open to impulse, she is strategic, too. Manocherian corresponds with galleries before the event, since dealers will email top clients a sneak peek at their offerings, and the chance to put something on hold or buy it in advance. 'Most of the time I know what I'm buying before I get there,' she said. That suits dealers just fine. 'You have to presell as an insurance policy,' Edlin said. 'It takes a lot of the risk out.' Although locals like Manocherian are a big part of the fair's audience, last year Frieze New York had visitors from 66 countries. Christine Messineo, director of Frieze's New York and Los Angeles editions, said that for visitors, the famed Manhattan museum scene was a major motivating factor. 'That's one of the reasons people return to New York, they can't miss the spring shows,' said Messineo, returning to run her fourth edition of the fair. 'People come for the fair and also for these amazing institutions.' (Spring also brings one of the year's two heavily stocked auction seasons, with upcoming major sales of modern and contemporary art at Christie's, Sotheby's and Phillips.) Galleries at Frieze purposely highlight the museum presence of their artists. Messineo cited Hauser & Wirth's offerings by Amy Sherald and Rashid Johnson, both of whom have large surveys on view now, at the Whitney Museum of American Art and the Solomon R. Guggenheim Museum. 'These connections are what set us apart,' Messineo said. Another link between the fair and the museums is the Hudson, N.Y., artist Jennie C. Jones, who in April debuted a Roof Garden commission atop the Metropolitan Museum of Art, 'Ensemble,' a sonic installation that hums in the wind. Jones is represented in the booth of New York's Alexander Gray Associates by works that include the collage 'Met Standing' (2024), a work related to the museum project. The Gray presentation will also show pieces by the artist Donald Moffett, who lives in New York and works in several media. One of his sculptures on view at the fair, 'Lot 031419 (blue looks back at itself)' (2019), looks like a piece of bright blue coral; it will be hard for visitors to resist touching it. As it happens, Jones and Moffett are also friends. 'Both are interested in activating our senses,' Alexander Gray said. 'Both of them are quietly demanding that as viewers, we slow down.' The size of the fair at the Shed — smaller than the other Frieze editions in London, Los Angeles and Seoul, and smaller than most other major fairs — is one of its defining characteristics. Gray noted that the Shed can fit fewer booths than the event's original tent, on Randall's Island, could. 'The size is not by design, it's by circumstance,' said Gray, a veteran exhibitor at the fair who is also on the Frieze London selection committee (which decides what galleries get booths). But he added that the limitations reflect a reality of the local art world. 'For New York to be home to the most competitive fair makes sense in a way,' he said. The fellow exhibitor Angelina Volk, a director of the London gallery Emalin, called it a 'manageable size.' She added, 'It's selective and concentrated. People go and they can actually see everything.' Now in its third year as an exhibitor, Emalin has always done a shared booth at the fair and is doing so again, this time partnering with Apalazzo Gallery of Brescia, Italy. Among the works on hand will be paintings by the Polish artist Karol Palczak, one of several Eastern European artists that Emalin shows. Palczak makes paintings based on videos, including 'Gnijaca osmiornica,' 2025, an oil depicting an octopus. 'The moving image is the source material for the paintings,' Volk said. 'He feels something essential is captured that he wants to reproduce in a painting.' Another collaborative dealer showing at the fair is Lucy Chadwick, who founded the gallery Champ Lacombe in Biarritz, France, in 2021 ('It's a Covid baby,' she said) and then expanded to her hometown, London, last fall. She will share a booth with New York's Company Gallery in the Focus section, which is dedicated to younger galleries and is organized this year by the curator and writer Lumi Tan. The booth is a solo presentation of the painter Stefania Batoeva, who lives and works in Paris. Her work straddles the line between figuration and abstraction, as seen in the oil 'Triple Portrait' (2025). Chadwick formerly lived and worked in New York. 'New York is one of the undeniable epicenters of the creative community,' she said, noting that the current political and economic turmoil made fairs even more important. 'When we're in a moment of instability, it feels nice to seek out one community and be together,' she said. 'We can engage in real conversations.'
Business Wire
29-04-2025
- Automotive
- Business Wire
AGY Launches New Lightweight Single-End S2 Glass® Roving to Deliver Breakthrough Performance
AIKEN, S.C.--(BUSINESS WIRE)--AGY, a leading producer of high-performance glass fiber reinforcements, is proud to announce the development and commercial launch of its new single-end lightweight S2 Glass® roving, engineered to deliver exceptional strength, stiffness, and impact resistance for advanced composite applications. 'With this advancement, we are opening the possibility for designers to use the world's strongest glass fiber in many new applications." Share This next-generation roving is designed to meet the needs of demanding aerospace, defense, and high-performance industrial markets, where maximizing structural efficiency and reducing weight are critical. Key benefits of the new lightweight single-end S2 Glass roving: Performance over traditional E Glass S2 Glass performance studies show significant performance gains in stiffness, strength, and impact, especially in weight-sensitive or survivability-critical applications. Overcoming traditional limitations New single-end format allows for thinner, lighter, and more versatile laminate design. Improved strength and stiffness Optimized for use in unidirectional (UD) prepreg and non-crimped fabric (NCF) manufacturing, this single-end format delivers superior mechanical properties compared to traditional assembled rovings. Enhanced ballistic and impact resistance With performance comparable to competitive thin-ply laminates, this new roving enables high fiber volume and low-matrix formulations, optimizing impact resistance and energy absorption. Improved radar transparency 15-20% lower dielectric constant than E Glass and the ability to make strong, thinner structures makes S2 Glass a cost-effective solution for radomes in weight-sensitive applications. Combined thermal and electrical resistance S2 Glass allows higher operating temperatures, increased fatigue life, and electrical isolation for high-performance modern electric motor applications. Tailored for manufacturing efficiency Supplied on three-inch cores, the standard for industry fiber processing, this roving is compatible with existing composite production processes. Packages are designed for seamless UD and NCF integration. Advanced sizing chemistry AGY's proprietary high-performance sizing systems ensure optimal fiber-matrix bonding, unlocking the full potential of the S2 Glass reinforcement. 'With this advancement, we are opening the possibility for designers to use the world's strongest glass fiber in many new applications. We're excited to partner with OEM's on advancing the performance of their next-generation products,' stated Patrick Hunter, Executive Vice President, Commercial for AGY. About AGY AGY is a leading innovator and manufacturer of specialty glass fiber reinforcements enabling high-performance composite solutions for aviation, defense, electronics, architecture, and telecommunications applications that are integral to civilian life and critical to the national security supply chain. Headquartered in Aiken, SC, AGY is the singular remaining specialty glass fiber manufacturer in the United States. Flexible production operations, R&D teams, and a product innovation center allow AGY to customize material solutions and develop next-generation products for clients globally.
Yahoo
24-04-2025
- Business
- Yahoo
Oconee Federal: Fiscal Q3 Earnings Snapshot
SENECA, S.C. (AP) — SENECA, S.C. (AP) — Oconee Federal Financial Corp. (OFED) on Thursday reported net income of $1 million in its fiscal third quarter. The Seneca, South Carolina-based company said it had profit of 17 cents per share. The holding company for Oconee Federal Savings posted revenue of $7.6 million in the period. Its adjusted revenue was $4.6 million. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on OFED at
