Sign in

    Gregory Burns

    Senior Equity Analyst at Sidoti & Company

    Gregory Burns is a Senior Equity Analyst at Sidoti & Company, specializing in coverage of Technology, Industrials, Communication Services, and Consumer Cyclical sectors. He has provided ratings and price targets for companies including ePlus Inc, AudioCodes Ltd, MillerKnoll, Sify Technologies, and BlackSky, achieving a strong track record with a 77.9% price target met ratio and average potential upside of 27.8% over 238 days. Burns has issued over 192 price targets on 15 stocks since joining Sidoti in 2011, and his notable calls include a rapid fulfilled recommendation on AudioCodes Ltd with a 6.3% one-day profit. He is credentialed as a FINRA-registered research analyst and is recognized for his detailed company-sponsored research and consistent performance in microcap and growth equities.

    Gregory Burns's questions to SCANSOURCE (SCSC) leadership

    Gregory Burns's questions to SCANSOURCE (SCSC) leadership • Q4 2025

    Question

    Gregory Burns asked about any specific detractors within the Specialty Technology Solutions segment despite its broad-based growth and requested an update on the business outlook for Brazil.

    Answer

    CFO Steve Jones identified the communications business as a profitable but slower-growing area within the technology segment. Regarding Brazil, Jones noted local currency growth is being offset by FX headwinds. CEO Mike Bauer added that Brazil's business model, with its focus on recurring revenue and converged solutions, serves as a template for the U.S. operations, and he praised the strong local management team despite macroeconomic challenges.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to SCANSOURCE (SCSC) leadership • Q3 2025

    Question

    Gregory Burns asked for more detail on the demand trends causing weakness in Brazil and requested an update on the progress and traction of the Channel Exchange initiative for selling SaaS-type revenue streams.

    Answer

    CFO Stephen Jones attributed the weakness in Brazil to macroeconomic issues, FX headwinds, and a shift to reporting more revenue on a netted down basis, which impacts the top-line but not profitability as significantly. Chair and CEO Mike Baur clarified that Channel Exchange is a key transactional tool that enables business with new, smaller suppliers, particularly in the AI space, by handling billing complexities. He stated it has been instrumental in recruiting the 9 new suppliers added during the past year.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to SCANSOURCE (SCSC) leadership • Q2 2025

    Question

    Gregory Burns of Sidoti & Company inquired about the demand environment, the sequential cadence of the quarter, the reasons for maintaining full-year guidance despite the Q2 miss, and the growth drivers within the Intelisys business.

    Answer

    Chair and CEO Mike Baur explained that the quarterly miss was driven by an unexpected double-digit decline in large deals, which typically close at the end of the December quarter. CFO Stephen Jones added that while top-line visibility is challenging due to a lack of hardware backlog, they remain confident in the full-year guidance based on expected second-half growth and predictable gross profit from recurring revenue. Regarding Intelisys, Mike Baur noted that while older technologies are not declining, growth is concentrated in newer areas like CX and SaaS. He stated that even older technologies have a long life and can still shift from direct sales to the channel.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to SCANSOURCE (SCSC) leadership • Q1 2025

    Question

    Gregory Burns asked for more detail on product category performance within the Specialty Technology segment, inquired about the drivers of underperformance in Brazil, and questioned the competitive dynamics and margin trends in the Intelisys business.

    Answer

    Mike Baur, Chair and CEO, explained that the company will no longer provide granular detail on specific technologies to better align with its new segment-based reporting strategy. Stephen Jones, CFO, attributed Brazil's performance issues to foreign exchange headwinds. Regarding Intelisys, Mike Baur stated that there were no new changes to the competitive or margin pressure environment and highlighted the company's focus on partner segmentation to drive future growth.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to ATN International (ATNI) leadership

    Gregory Burns's questions to ATN International (ATNI) leadership • Q2 2025

    Question

    Gregory Burns from Sidoti & Company, LLC asked for a timeline on when the US segment's fiber growth will offset legacy service declines and questioned if competitive pressures in the international mobile market have eased, particularly on the prepaid side.

    Answer

    CEO Brad Martin explained that the US market is in a transition stage, but the company is optimistic due to progress in partner builds and a growing pipeline in areas like rural healthcare, expecting improvements in the second half. On the international front, Mr. Martin acknowledged that competitive pressures still exist, especially in prepaid, but noted the market has normalized and ATN's focus on improving subscriber quality through data and contract plans is yielding positive results.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to ATN International (ATNI) leadership • Q2 2025

    Question

    Gregory Burns from Sidoti & Company, LLC asked for a timeline on when the U.S. segment's fiber growth would offset legacy service declines and questioned if competitive pressures in the international mobile market have eased.

    Answer

    CEO Brad Martin explained that while ATNI is in a transition phase in the U.S., they are seeing optimistic signs from partner builds and carrier demand but did not provide a specific inflection point, noting 2026 guidance would come on the Q4 call. On the international front, Mr. Martin acknowledged that competitive pressures persist, particularly in prepaid, but stated the market has normalized and the company's focus on higher-quality postpaid subscribers and data plans is yielding positive results.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to ATN International (ATNI) leadership • Q1 2025

    Question

    Gregory Burns inquired about the potential size of the BEAD program opportunity beyond the funds already secured and asked for an update on the company's progress in monetizing its recent organic investments, particularly concerning leadership and sales process changes.

    Answer

    CEO Brad Martin stated that ATNI is strategically participating in the BEAD program, which has approximately $4 billion provisioned across its six operating states, though he noted the timing of awards is fluid. Regarding monetization, he highlighted encouraging early progress from new U.S. leadership, citing growing carrier demand for transport, a more successful USAC season, and a renewed focus on converting legacy customers to fiber. He also mentioned improved inbound roaming and strong data demand internationally as positive signs of leveraging past investments.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to ATN International (ATNI) leadership • Q4 2024

    Question

    Gregory Burns questioned the size and decline rate of legacy revenue streams in the U.S. segment, the drivers behind the expected drop in U.S. profitability for 2025, the strategy for monetizing recent capital investments, and the cause for the quarterly decline in depreciation.

    Answer

    CEO Brad Martin explained that the company is actively exiting legacy services like retail mobile and LTE broadband, with a key long-term initiative being the shutdown of legacy copper networks. CFO Carlos Doglioli confirmed that declining revenue is the primary driver of the reduced profitability forecast for the U.S. segment. Martin added that monetization of investments will be driven by participating in grant programs like BEAD and focusing commercial efforts on high-return fiber services. Doglioli attributed the lower depreciation to reduced capital expenditures in recent quarters.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to ATN International (ATNI) leadership • Q3 2024

    Question

    Gregory Burns from Sidoti & Company, LLC asked for clarification on the US segment's underperformance, seeking to understand if it was due to internal execution issues or a broader shift in market demand and competition. He also questioned the dynamic of declining total broadband subscribers while high-speed data subscribers are growing.

    Answer

    CEO Brad Martin explained that in the enterprise market, underperformance is mainly due to deal delays rather than lost deals, with strong underlying demand. In the consumer market, he cited the de-emphasis of legacy fixed wireless and new competition from major carriers' FWA as key factors. Martin confirmed the subscriber dynamic is a direct result of shutting down legacy copper and fixed wireless networks while migrating customers to superior fiber and next-gen wireless technologies.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to CSG SYSTEMS INTERNATIONAL (CSGS) leadership

    Gregory Burns's questions to CSG SYSTEMS INTERNATIONAL (CSGS) leadership • Q2 2025

    Question

    Gregory Burns from Sidoti & Company, LLC asked about the opportunity within the enterprise divisions of global telecom operators, highlighted by the Orange Business win, and whether these deals lead to broader cross-selling opportunities.

    Answer

    CFO Hai Tran explained that CSG's differentiated capability is in complex enterprise solutions, particularly its industry-leading CPQ offering, which was key to the competitive Orange win and is generating more Tier 1 and Tier 2 operator interest. CEO Brian Shepherd added that these enterprise wins can lead to cross-selling, providing past examples with MTN in South Africa and a customer in Asia Pacific where initial enterprise deals expanded into the consumer business.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to CSG SYSTEMS INTERNATIONAL (CSGS) leadership • Q1 2025

    Question

    Gregory Burns inquired about the specific revenue trends for CSG's top customers, Charter and Comcast, and the general demand dynamics within the cable market.

    Answer

    CEO Brian Shepherd explained that while quarterly results can fluctuate, the medium- to long-term trend with its top two customers remains a 2.6% compound annual growth rate since 2017. He highlighted two factors affecting the Q1 comparison: a $10 million one-time revenue event with Comcast in the prior-year quarter and the absence of a price increase in the new 6-year Comcast contract for 2025.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to CSG SYSTEMS INTERNATIONAL (CSGS) leadership • Q3 2024

    Question

    Gregory Burns inquired about the structure of the Comcast renewal, specifically the absence of upfront price concessions and the inclusion of future price escalators, and asked for an outlook on the near-term slowdown in the core business and the health of the sales pipeline.

    Answer

    CEO Brian Shepherd explained the Comcast contract is a 'win-win' deal with no hidden step-downs, reflecting the significant value CSG has delivered through investments. He noted the renewal incentivizes Comcast to do more business with CSG. Regarding the slowdown, Shepherd attributed it to general 'belt-tightening' across the economy, which he expects to last a few quarters, but expressed confidence in the sales pipeline and a return to mid-range growth by mid-2025 or sooner.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to ODP (ODP) leadership

    Gregory Burns's questions to ODP (ODP) leadership • Q2 2025

    Question

    Gregory Burns of Sidoti & Company, LLC asked for an update on the onboarding progress and momentum of large, previously announced B2B deals, the cause of the sequential decline in operating margin for the ODP Business Solutions segment, and the expected annual cash charges related to restructuring initiatives.

    Answer

    CEO Gerry Smith and SVP & Co-CFO Adam Haggard confirmed that recent large contract wins, including CoreTrust, are progressing well and are expected to have a more prominent impact in the second half of the year. SVP & Co-CFO Max Hood attributed the sequential margin decline in the solutions business to fixed cost deleveraging, which the 'Optimize for Growth' plan is designed to address by tightening the supply chain. Hood also estimated that cash charges for restructuring would be approximately $5 million per quarter.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to ODP (ODP) leadership • Q1 2025

    Question

    Gregory Burns inquired about the specific drivers behind the improved momentum in ODP's retail division, the future pace of store closures under the 'Optimize for Growth' plan, and the reasons for delays in onboarding new B2B contracts.

    Answer

    CEO Gerry Smith attributed the retail success to a new sales motion in stores, a revised merchandising strategy, and a rigorous daily management system, noting that comparable sales trends continued to improve into April and May. Regarding store closures, Smith and Co-CFO Max Hood explained that the plan's pace would be re-evaluated to maximize cash flow, as the improved store performance changes the financial models. For B2B onboarding delays, Smith cited the learning curve in the new hospitality sector, longer lead times for inventory, and the large scale of new contracts like CoreTrust.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to ODP (ODP) leadership • Q4 2024

    Question

    Gregory Burns inquired about the origin and market reception of the new hospitality deal, its potential to open new opportunities, and the expected revenue ramp. He also asked for the timeline and cadence of the EBITDA uplift from the 'Optimize for Growth' plan and questioned if the company has considered strategic alternatives for its retail business.

    Answer

    CEO Gerry Smith explained the hospitality deal originated from an existing customer relationship and a discussion about expanding services, highlighting the partner's need for a reliable supply chain. He noted the deal is already generating inbound calls from other potential customers. Smith described the revenue ramp as a combination of exclusive distribution and a 'hunting license.' Co-CFO Adam Haggard detailed that the 'Optimize for Growth' plan is a 3-4 year initiative, with savings expected to be back-end loaded but net neutral in the near term. Regarding retail, Smith stated the company is always exploring ways to maximize shareholder value.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to ODP (ODP) leadership • Q3 2024

    Question

    Gregory Burns of Sidoti & Company, LLC inquired about ODP's strategy for penetrating new industry segments like hospitality, the size and timing of the B2B deal pipeline, and the net financial impact of Project Core savings when considering new reinvestments.

    Answer

    CEO Gerry Smith explained that the expansion into new segments leverages core supply chain strengths and existing customer relationships. He confirmed the new $1.5B deal is signed and ramping but declined to detail the broader pipeline for competitive reasons. Regarding investments, Smith and Chief Accounting Officer Max Hood stated that Project Core savings are on track, but new investments are being made to support growth, particularly in inventory and infrastructure for the new B2B wins. They did not provide a net savings number.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to DOUGLAS DYNAMICS (PLOW) leadership

    Gregory Burns's questions to DOUGLAS DYNAMICS (PLOW) leadership • Q2 2025

    Question

    Gregory Burns of Sidoti & Company, LLC questioned the expected decline in Solutions segment margins in the second half of the year and inquired about the M&A pipeline and strategic focus as the company reactivates its acquisition efforts.

    Answer

    EVP & CFO Sarah Lauber clarified that while second-half margins will be lower than the first half's outperformance due to product mix, she expects full-year margins to show improvement and stabilization at a higher level. President and CEO Mark Van Genderen detailed the M&A strategy, stating the focus is on the work vehicle attachment space, seeking opportunities where the company can leverage its manufacturing, engineering, and marketing expertise, likely outside the core snow and ice industry.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to DOUGLAS DYNAMICS (PLOW) leadership • Q1 2025

    Question

    Gregory Burns of Sidoti & Company inquired about the timing and drivers for the planned capacity expansion in the Work Truck Solutions segment. He also asked for more details on the new product development pipeline for Work Truck Attachments.

    Answer

    CFO Sarah Lauber stated the capacity expansion is for the Henderson business, expected to add about 10% capacity in 2026 to support a strong backlog. CEO Mark Van Genderen discussed new product development, highlighting a focus on efficiency and mentioning the recent hopper line upgrades and new pusher plows as examples of meeting market demand, without revealing specific future products.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to DOUGLAS DYNAMICS (PLOW) leadership • Q4 2024

    Question

    Gregory Burns asked for a breakdown of the company's most important geographical markets for snow equipment and questioned what will drive future margin expansion in the Work Truck Solutions segment beyond current levels.

    Answer

    Mark Van Genderen, COO, identified the key markets as being east of the Mississippi River and north of Tennessee, specifically the Upper Midwest, Ohio Valley, Mid-Atlantic, and Northeast, adding that Canada is also a strong market. CFO Sarah Lauber addressed margins, stating that while the Solutions segment has reached the low end of its target range, achieving the higher end (up to 13%) will be primarily driven by increased volume and throughput, supplemented by ongoing efficiency initiatives.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to DOUGLAS DYNAMICS (PLOW) leadership • Q3 2024

    Question

    Gregory Burns from Sidoti & Co. questioned the nature of the demand slowdown at Dejana, asking if it was temporary or structural. He also inquired about Q4 cash generation expectations, year-end leverage targets, and whether the company has contingency plans for another below-average snowfall winter.

    Answer

    Chairman and Interim CEO James Janik attributed the Dejana softness to caution among local commercial customers, likely due to interest rates and election uncertainty, but expressed optimism for a rebound. CFO Sarah Lauber projected that the company's leverage ratio, 2.6x at quarter-end, would continue to decline through Q4, which is the strongest cash flow quarter. Regarding contingencies, Ms. Lauber stated that the 2024 Cost Savings Program and the recent sale-leaseback transaction have already optimized the business, and no further actions are currently planned as the company is well-positioned for various snowfall scenarios.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to ACCO BRANDS (ACCO) leadership

    Gregory Burns's questions to ACCO BRANDS (ACCO) leadership • Q2 2025

    Question

    Gregory Burns of Sidoti & Company, LLC inquired about the drivers behind the back-to-school sales decline, asking for a breakdown between early buying, tariff impacts, and general market demand. He also asked about retail channel inventory levels and the potential revenue contribution from new products in the second half of the year.

    Answer

    Thomas Tedford, President & CEO of ACCO Brands, explained that the decline was a mix of order shifts into Q1, customer order softness and cancellations, and minor shifts into Q3. He noted it's early in the season, but ACCO has sufficient inventory for potential replenishment orders, though retailers are managing inventory tightly. Tedford also stated that revenue benefits from new products would be modest in the second half, with a more significant impact expected in 2026 and beyond.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to ACCO BRANDS (ACCO) leadership • Q1 2025

    Question

    Gregory Burns of Sidoti & Company asked about the company's appetite for future acquisitions, the timing and revenue contribution of new products, and the underlying dynamics of Q1 segment performance, particularly in the International segment.

    Answer

    President and CEO Tom Tedford stated that while acquisitions are a long-term goal, the company will be cautious near-term due to trade dynamics. He noted new products are launching now, including for the Nintendo Switch 2, and a formal vitality metric is in development. Tedford attributed the slow start in the International segment to customer pull-ins at the end of 2024 and softness in Germany. CFO Deb O'Connor added that International is expected to improve slightly in Q2.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to ACCO BRANDS (ACCO) leadership • Q4 2024

    Question

    Gregory Burns asked for the expected timing of the remaining $75 million in cost savings over the next two years. He also questioned the company's M&A focus, specifically whether it would target near-adjacent categories or new markets, and how much leverage the company would be willing to take on for a transaction.

    Answer

    EVP and CFO Deb O'Connor projected approximately $40 million in savings for 2025, with the remainder in 2026. President and CEO Tom Tedford stated that the M&A focus is on highly accretive, relatively low-risk opportunities. O'Connor added that while an acquisition might temporarily increase leverage, they are seeking deals with quick paybacks and are very cognizant of keeping the leverage ratio manageable.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to ACCO BRANDS (ACCO) leadership • Q3 2024

    Question

    Gregory Burns inquired about the drivers of the slowdown in Brazil and Mexico, asking if it was macro-related or due to secular headwinds. He also asked about the typical Q4/Q1 sales split for Brazil's back-to-school season and whether the new, more conservative retailer buying patterns in North America represent a 'new normal'.

    Answer

    President and CEO Tom Tedford explained the Latin America slowdown is due to local issues, tough year-over-year comparisons, and retailer conservatism, rather than accelerating secular trends. EVP and CFO Deb O'Connor noted that buying in Brazil is shifting more into Q1 this year compared to last year's earlier Q4 purchasing. Regarding North America, Tom Tedford confirmed that lower retailer inventory and reduced replenishment orders are the new reality, and ACCO is adapting its sell-in strategies accordingly.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to FEDERAL SIGNAL CORP /DE/ (FSS) leadership

    Gregory Burns's questions to FEDERAL SIGNAL CORP /DE/ (FSS) leadership • Q2 2025

    Question

    Gregory Burns of Sidoti & Company, LLC questioned the disparity between strong SSG orders and revenue recognition, the nature of the order book, and the company's M&A strategy for entering new markets or scaling in existing ones.

    Answer

    SVP & CFO Ian Hudson clarified that the order-to-revenue gap in SSG was a matter of timing, as orders are often received and shipped within the same quarter, and confirmed no unusually large fleet orders. President & CEO Jennifer Sherman described the M&A pipeline as very active, with a focus on growing the SSG business and pursuing new verticals and geographic expansion for ESG.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to FEDERAL SIGNAL CORP /DE/ (FSS) leadership • Q1 2025

    Question

    Gregory Burns of Sidoti & Co. asked about the tangible benefits seen from the federal infrastructure bill on industrial demand and inquired about the company's need to invest further in its rental fleet.

    Answer

    President and CEO Jennifer Sherman explained that the impact from the infrastructure bill has been nominal to date, with current order strength attributable to market share gains, and that benefits are expected over a multi-year period. CFO Ian Hudson added that the rental fleet is monitored closely and invested in as needed, particularly in Q1 ahead of the busy season, which also provides production flexibility.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to FEDERAL SIGNAL CORP /DE/ (FSS) leadership • Q4 2024

    Question

    Gregory Burns asked about future plans for the dealer network, including the mix of direct sales versus third-party dealers, the specific goals of the current transition, and the primary bottlenecks hindering production ramp-ups.

    Answer

    President and CEO Jennifer Sherman clarified that the current transition focuses on the exclusive dealer network (30% of business) and aims to increase market share and aftermarket sales. She identified the main production bottleneck at the Elgin facility, where fundamental changes to line setup and material flow are taking longer than anticipated, while the Vactor facility has seen better progress.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to FEDERAL SIGNAL CORP /DE/ (FSS) leadership • Q3 2024

    Question

    Gregory Burns questioned if the strong demand for rentals was creating constraints and if more investment was needed in the rental fleet. He also asked about any production disruptions from the recent hurricane season and if there was any change in demand patterns due to the upcoming election.

    Answer

    CFO Ian Hudson responded that the company closely monitors fleet utilization and confirmed a previously announced $20 million investment in the used and rental fleet is being deployed in the second half of the year. He stated they feel comfortable with the current fleet size, which is also supported by rental partners. President and CEO Jennifer Sherman noted a service center in Tampa was down for a couple of days due to a hurricane but there were no major disruptions. She stated they have seen no impact from the election and feel well-positioned regarding potential tariffs, as less than 5% of direct material purchases are from outside North America.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to SIFY TECHNOLOGIES (SIFY) leadership

    Gregory Burns's questions to SIFY TECHNOLOGIES (SIFY) leadership • Q1 2026

    Question

    Gregory Burns of Sidoti & Company, LLC inquired about Sify's data center capacity, including current operational levels and the roadmap for future greenfield projects. He also asked for details on the new pay-per-use AI colocation model and sought a timeline for when recent investments would translate to improved business leverage.

    Answer

    M P Vijay Kumar, Executive Director & Group CFO, stated that total operational data center capacity is now 138 MW, with two new 26 MW design capacity centers recently live. He mentioned two more 52 MW design capacity centers in Mumbai are under construction for later this year. Chairman & MD Raju Vegesna explained the AI colo model is a "bring your own GPU" service where Sify provides the liquid-cooled infrastructure on a pay-per-use basis, a unique offering generating global interest. Vijay Kumar projected a 12-18 month horizon for investments in the Digital IT Services business to start showing positive results.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to SIFY TECHNOLOGIES (SIFY) leadership • Q2 2025

    Question

    Gregory Burns inquired about the primary drivers of demand, the impact of AI on the business, current and planned data center capacity, the reasons for strong growth in Digital Services, the terms of new debt, and the outlook for SG&A expenses.

    Answer

    Chairman Raju Vegesna stated that demand growth is balanced between hyperscalers and enterprise customers and noted that while AI adoption is nascent in India, Sify is prepared with NVIDIA-certified data centers. CFO M.P. Vijay Kumar provided data center capacity details (120 MW operational), attributed the Digital Services strength to project-based revenue, explained the new debt replaced older, more expensive debt, and projected that SG&A as a percentage of revenue would remain at current levels.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to SIFY TECHNOLOGIES (SIFY) leadership • Q1 2025

    Question

    Gregory Burns of Sidoti & Company asked about the primary drivers of data center demand in India, specifically from hyperscalers and AI. He also inquired about the data center capacity expansion roadmap for the year, the full-year CapEx outlook, and whether the company has sufficient liquidity post-rights offering. Additionally, he sought clarification on the reasons for the quarterly decline in Digital Services revenue and whether the accelerated growth in the Data Center segment was due to a one-time event.

    Answer

    Chairman Raju Vegesna explained that current data center demand is primarily from hyperscalers and traditional enterprises, noting that AI adoption in India is still in its early stages. He declined to provide a future capacity roadmap but confirmed a strong construction pipeline. M.P. Vijay Kumar, Executive Director and Group CFO, stated that the Q1 CapEx trend would continue and that the successful rights offering, combined with enhanced leveraging ability, provides sufficient funding. He attributed the Digital Services decline to a strategic shift from project-based to annuity-based revenue models and confirmed the Data Center segment's growth was recurring, not a one-time event.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to STEELCASE (SCS) leadership

    Gregory Burns's questions to STEELCASE (SCS) leadership • Q1 2026

    Question

    Gregory Burns asked about the International segment's path to profitability, questioning if the planned restructuring is sufficient at current demand levels, and also inquired about the key drivers behind the resilient demand from large corporate customers.

    Answer

    SVP & CFO David Sylvester stated that the company is targeting consistent profitability in its International segment and the restructuring actions in Europe are designed for the current, softer demand environment. He noted Asia was profitable in the quarter. President & CEO Sara Armbruster attributed strong corporate demand to clients needing to reshape their workplaces to support new hybrid work models focused on collaboration and privacy, a trend validated by customer reactions at the recent Design Days event.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to STEELCASE (SCS) leadership • Q4 2025

    Question

    Gregory Burns of Sidoti & Company inquired about the order pacing through the fourth quarter and into early Q1, and asked about the specific actions being taken to achieve breakeven profitability in the International segment for fiscal 2026.

    Answer

    SVP and CFO David Sylvester explained that order patterns followed normal seasonality, with a likely pull-forward of orders ahead of a new tariff recovery charge. For the International segment, he stated that achieving profitability relies on modest revenue growth and an ongoing evaluation of the cost structure, building on actions taken in the second half of fiscal 2025.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to STEELCASE (SCS) leadership • Q3 2025

    Question

    Gregory Burns questioned the company's exposure to potential tariffs and if it was reflected in FY26 guidance. He also sought clarification on comments about slower-than-expected industry growth and asked if the second half of the fiscal year was performing in line with expectations, considering timing shifts.

    Answer

    CFO Dave Sylvester detailed a three-part tariff exposure strategy, noting it is not built into guidance. CEO Sara Armbruster clarified her comment on slower growth was relative to initial, more optimistic BIFMA industry projections for the year. CFO Dave Sylvester added that while the second half is softer than initial annual forecasts, it's closer to recent expectations, and the company is on track to exceed its full-year adjusted EPS target.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to STEELCASE (SCS) leadership • Q2 2025

    Question

    Gregory Burns from Sidoti & Company, LLC asked for more detail on the company's confidence in a corporate order pickup in the second half of the year and inquired about the drivers behind operating expenses coming in lower than guided.

    Answer

    David Sylvester, Senior Vice President & CFO, explained that confidence in the second-half order growth is based on strong pipeline visibility from the sales team focused on large corporate accounts, with some Q2 orders merely shifting in timing. Regarding operating expenses, he clarified that after adjusting for the net gain on a land sale, as detailed in the non-GAAP reconciliation, OpEx was in line with the company's guidance.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to MILLERKNOLL (MLKN) leadership

    Gregory Burns's questions to MILLERKNOLL (MLKN) leadership • Q4 2025

    Question

    Gregory Burns of Sidoti & Company, LLC inquired about the impact of the Q4 order pull-forward on the current quarter's order trends, the strategy behind the accelerated retail store expansion amid soft demand, the time for new stores to mature, and near-term margin expectations for the retail segment.

    Answer

    CFO Jeff Stutz confirmed that early Q1 orders were down mid-single digits, as expected after the pull-forward. CEO Andi Owen expressed confidence in the retail expansion, citing an under-penetrated market position. President of Global Retail Debbie Propst added that stores become profitable within their first year and that the long-term segment operating margin goal is mid-teens. CEO Andi Owen advised that near-term retail margins would likely remain at current levels during this investment phase.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to MILLERKNOLL (MLKN) leadership • Q3 2025

    Question

    Gregory Burns inquired about MillerKnoll's ability to fully offset future tariff impacts, the reasoning behind the conservative Q4 revenue guidance despite a higher backlog and accelerating orders, and the specific trends in pipeline metrics for the North American contract segment.

    Answer

    CFO Jeff Stutz stated that based on current information, the company believes it can offset active tariffs through pricing and mitigation, though future policy changes remain a wildcard. CEO Andrea Owen attributed the conservative guidance to prudence amid macroeconomic uncertainty. John Michael, President of North America Contract, confirmed that leading indicators like the 12-month funnel and awarded projects remain strong, up 7% and 27% YoY respectively, but take time to convert to orders.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to MILLERKNOLL (MLKN) leadership • Q2 2025

    Question

    Gregory Burns asked about MillerKnoll's potential exposure to proposed tariffs, particularly from China and Canada, and inquired about the reasons for slower-than-expected order development in the Americas segment. He also questioned the demand dynamics and integration progress within the international business.

    Answer

    CFO Jeff Stutz identified China and Canada as the primary regions of tariff exposure and detailed a mitigation playbook including alternative sourcing, advance purchasing, and potential pricing actions. CEO Andrea Owen added that the company is less exposed to China than in the past and attributed the recent order slowdown to pre-election uncertainty, which has since subsided. Regarding international orders, she described the business as inherently 'lumpier' due to its project-based nature.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to MILLERKNOLL (MLKN) leadership • Q1 2025

    Question

    Gregory Burns inquired about the Q2 fiscal 2025 guidance, questioning the drivers behind the implied year-over-year decline in operating margins despite revenue forecasts being ahead of consensus. He also asked for an outlook on the retail segment, referencing positive commentary from competitors like RH.

    Answer

    Executive Vice President and CFO Jeff Stutz explained that the Q2 margin outlook is impacted by two main factors: a business and product mix shift away from higher-margin retail and specialty sales, and the front-loading of marketing expenses for the cyber promotional period, with the associated revenue being split between Q2 and Q3. CEO Andi Owen reinforced that the cyber timing shift is a significant factor. Debbie Propst, President of Global Retail, added that the retail outlook is optimistic, citing a recent interest rate cut, strong Q1 marketing efficiency, and plans for new awareness campaigns to capture demand as consumer confidence rebounds.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to COMTECH TELECOMMUNICATIONS CORP /DE/ (CMTL) leadership

    Gregory Burns's questions to COMTECH TELECOMMUNICATIONS CORP /DE/ (CMTL) leadership • Q3 2025

    Question

    Gregory Burns from Sidoti & Company, LLC asked about the potential revenue impact from the discontinued products in the satellite business. He also questioned the growth outlook for the Terrestrial and Wireless segment and inquired about initiatives to improve its margins, including any specific margin targets.

    Answer

    Daniel Gizinski, President of Satellite & Space Communications, reiterated that the revenue impact from discontinued products is expected to be less than 10% of the segment's revenue, allowing for a strategic focus on higher-margin products. Jeff Robertson, President of Terrestrial & Wireless Networks, highlighted growth opportunities from international 5G services and a new cloud-based call handling product. He noted that margin improvements are expected from architectural changes and new cloud offerings but declined to provide specific public targets at this time. CEO Kenneth Traub added that the product cuts are a deliberate strategy to improve customer service and margins.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to COMTECH TELECOMMUNICATIONS CORP /DE/ (CMTL) leadership • Q2 2025

    Question

    Gregory Burns inquired about the progress of cost optimization in the satellite business, the potential for higher-margin programs like the A3M modems to drive growth, and the outlook for cash flow in the second half of the year, particularly concerning the reduction of unbilled receivables.

    Answer

    Chairman, President and CEO Kenneth Traub explained that cost optimization is an ongoing process focused on operational efficiency and being more selective about taking on profitable business, rather than simply cutting costs. He noted the company will leverage proprietary technology to justify better margins but declined to give specific targets. CFO Michael Bondi added that while no specific cash flow guidance is being provided, the company is focused on reducing unbilled receivables and improving its cash position through cost reductions and profitable new business.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to COMTECH TELECOMMUNICATIONS CORP /DE/ (CMTL) leadership • Q1 2025

    Question

    Gregory Burns asked about the impact of recurring balance sheet issues, specifically the debt being reclassified as current, on production capabilities and supplier relationships. He also sought to clarify whether the top-line challenges in the Satellite business were due to internal production constraints or a decline in market demand.

    Answer

    CFO Michael Bondi stated that the company is managing its payables and maintaining liquidity to support the supply chain. CEO Kenneth H. Traub added that the debt reclassification is an accounting requirement and that they have a constructive relationship with lenders. On demand, Mr. Traub pointed to the $800M+ funded backlog as a sign of strength, which was echoed by Daniel Gizinski (President, Satellite and Space) and Jeff Robertson (President, Terrestrial and Wireless), who both affirmed strong positioning and customer demand in their respective segments.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to COMTECH TELECOMMUNICATIONS CORP /DE/ (CMTL) leadership • Q4 2024

    Question

    Gregory Burns inquired about the strategic review of the terrestrial business, including its timeline, process, and the expected capital structure of the remaining satellite business post-transaction. He also asked for details on the Q4 margin headwinds and the company's ability to generate cash and meet obligations without further financing.

    Answer

    CEO John Ratigan explained the strategic review is a methodical, ongoing process, and post-divestiture, the goal would be to reduce the cost structure, pay off loans, and potentially call the preferreds. He attributed margin pressure to development-stage projects that will become more profitable in production. CFO Mike Bondi added that a transaction would simplify the balance sheet and that Q4 margin adjustments from a 'hard scrub' of NRE programs are now behind them. He also confirmed the company expects the continued reduction of unbilled receivables to provide liquidity.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to EPLUS (PLUS) leadership

    Gregory Burns's questions to EPLUS (PLUS) leadership • Q4 2025

    Question

    Gregory Burns of Sidoti & Company, LLC inquired about the current demand environment, particularly for product sales, and the timeline for enterprise AI adoption, asking if an AI-driven acceleration was factored into the fiscal 2026 guidance.

    Answer

    Mark Marron, CEO and President, noted a pickup in data center, cloud, and security demand but acknowledged continued weakness in networking. He explained that the fiscal 2026 guidance does not yet assume a significant acceleration from AI demand, which he expects to materialize more towards the end of the fiscal year. Marron anticipates AI will initially drive high-margin services revenue before a broader infrastructure spend occurs, highlighting the company's NVIDIA specializations as a key advantage.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to EPLUS (PLUS) leadership • Q3 2025

    Question

    Gregory Burns of Sidoti & Company, LLC asked for more detail on the demand environment and questioned the value proposition for ePlus amid the shift to subscription models.

    Answer

    CEO and President Mark Marron explained that the soft demand is primarily due to customers digesting prior hardware purchases, especially in networking, but also noted that macroeconomic factors like tariffs and the election cycle caused a temporary slowdown. Marron asserted that the subscription model is a significant opportunity, not a risk of disintermediation. He stated it allows ePlus to build out high-margin services, including lifecycle management, renewals, and managed services, thereby strengthening its role with customers.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to EPLUS (PLUS) leadership • Q2 2025

    Question

    Gregory Burns from Sidoti & Company, LLC inquired about the duration of the product demand softness, citing the 'technology flush' and broader macro uncertainty. He also sought details on the Bailiwick acquisition's expected revenue contribution and margin profile, as well as the organic growth rate for professional services.

    Answer

    CEO Mark Marron attributed the softer hardware sales to a tough year-over-year comparison, a pause in the enterprise segment as customers consume prior purchases, and the elongating effect of AI decision-making. He also highlighted a significant 940 basis point impact from netted down revenues. Regarding Bailiwick, Marron stated its margin profile is in line with ePlus, it would contribute approximately $85 million in revenue in the second half, and noted it expands offerings from core to edge. He specified that organic professional services growth was in the 6-8% range, while managed services grew 28% organically.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to ALAMO GROUP (ALG) leadership

    Gregory Burns's questions to ALAMO GROUP (ALG) leadership • Q1 2025

    Question

    Gregory Burns of Sidoti & Company questioned whether the cost reduction initiatives in the Vegetation Management division are complete and what future efficiencies can be expected. He also asked about the division's potential margin profile during a market recovery compared to previous peaks.

    Answer

    CFO Agnes Kamps stated that while the announced cost initiatives are complete, further efficiencies are expected from optimizing processes in the newly consolidated factories. CEO Jeff Leonard added that more restructuring is underway, including two additional plant consolidations, to hedge against potential recession risks. Leonard expressed confidence that the division's margin percentage should at least return to prior peak levels, and potentially exceed them, due to the permanent removal of fixed costs and under-absorption from closed facilities, aligning with the company's overall 15% operating margin target.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to ALAMO GROUP (ALG) leadership • Q4 2024

    Question

    Gregory Burns questioned the specifics of order activity declines within the Industrial division and asked about current lead times for sweepers and vacuum trucks, and if they provide a competitive advantage.

    Answer

    President and CEO Jeff Leonard explained that while the vacuum truck market remained strong, street sweeper orders saw a slight decline, which he attributed to a typical slowdown during a national election year. Snow removal orders were also down slightly, partly due to their own lead times which are now improving. Leonard confirmed their lead times of 3-4 months are advantageous and that they have available capacity to capitalize on this.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to ALAMO GROUP (ALG) leadership • Q3 2024

    Question

    Gregory Burns of Sidoti & Company asked about the company's M&A strategy and pipeline, given its strong cash flow, declining leverage, and the recent implementation of a share buyback program.

    Answer

    President and CEO Jeff Leonard described the M&A pipeline for 2025 as "interesting," with a "couple of big opportunities" directly in the company's sweet spot. He explained that they are conserving cash for these potential deals and that the share buyback is opportunistic. The strategy is to maintain a strong balance sheet to act quickly on both small tuck-in and larger M&A opportunities.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to UNIVERSAL ELECTRONICS (UEIC) leadership

    Gregory Burns's questions to UNIVERSAL ELECTRONICS (UEIC) leadership • Q1 2025

    Question

    Gregory Burns of Sidoti & Company asked about the gross margin calculation regarding excess overhead adjustments, the expected growth trajectory and visibility for the connected home business, and for a quantification of the project pipeline, referencing a previously mentioned $80 million figure.

    Answer

    Executive Bryan M. Hackworth explained that the company stopped making excess overhead adjustments about a year ago as restructuring is complete. For the connected home segment, he noted strong growth in Q1 and projected for Q2, with delayed projects now launching, but cautioned that macro uncertainty could impact large-ticket items like HVAC. Hackworth did not provide a new pipeline number but clarified that the previously mentioned $80 million in wins is being realized over a multi-year period (2024-2026) due to launch delays, with the full effect not expected until 2027.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to UNIVERSAL ELECTRONICS (UEIC) leadership • Q4 2024

    Question

    Gregory Burns asked about the impact of potential tariffs on the 2025 outlook, the expected growth trajectory for the remainder of the year after normalizing for the Q4 revenue shift, and the sustainability of recent strength in the subscription broadcast market.

    Answer

    CEO Paul D. Arling stated that potential China tariffs are not a major concern due to prior manufacturing shifts, while any impact from Mexico would be relatively small and manageable. While declining to give full-year guidance, he expressed bullishness on growth driven by new project wins and market share gains in connected home. He also noted that the rate of decline in the subscription broadcast business has lessened, allowing the growth from the connected home segment to become more prominent.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to UNIVERSAL ELECTRONICS (UEIC) leadership • Q3 2024

    Question

    Gregory Burns of Sidoti & Company asked for clarity on the timeline for eliminating excess manufacturing costs, the amount of such costs expected in Q4, and the anticipated cadence of revenue growth in 2025 from new project launches.

    Answer

    CFO Bryan M. Hackworth clarified that the company has already stopped adjusting for excess manufacturing costs in its non-GAAP results and that the underlying factory transition causing these costs will be fully completed by the end of 2024. Regarding the 2025 growth outlook, Hackworth explained that while new projects are scheduled to launch throughout the year, the company avoids providing specific forward guidance on the cadence, but expects revenue to build as new products layer on top of existing ones.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to HNI (HNI) leadership

    Gregory Burns's questions to HNI (HNI) leadership • Q1 2025

    Question

    Gregory Burns of Sidoti & Company inquired about current order patterns and whether the strength in contract demand might slow down to match the softness seen in the SMB market. He also asked for clarification on the demand environment and lumpiness in the hospitality sector.

    Answer

    Chairman, President and CEO Jeff Lorenger responded, stating that while macroeconomic uncertainty is high, the company's sales funnel and backlog remain encouraging. He noted that contract customers are committed to long-term investments. Regarding hospitality, Lorenger explained that the first quarter faced a very difficult comparison and that the business is seeing a mix of steady 'program' business and some delays in 'custom' projects, which could lead to continued choppiness.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to HNI (HNI) leadership • Q4 2024

    Question

    Gregory Burns asked for indications of demand stabilization in the short-cycle SMB business, the company's ability to offset new tariffs on a concurrent basis, and the typical incremental margins expected from projected revenue growth.

    Answer

    CEO Jeff Lorenger stated the SMB business is currently 'flattish' but expects potential upside in the second half of the year. He explained that tariffs will be offset more quickly this time by using a flexible surcharge approach rather than permanent list price changes. EVP & CFO VP. Berger noted that incremental margins are expected to be '40-plus percent' on core business growth, even while funding new investments.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to HNI (HNI) leadership • Q3 2024

    Question

    Gregory Burns asked about HNI's capital allocation priorities now that leverage has returned to pre-Kimball acquisition levels, inquired about ongoing productivity initiatives beyond the major synergies, and sought clarity on margin targets for both the Workplace and Residential segments.

    Answer

    CFO Marshall Bridges stated that with leverage at 1.1x and strong free cash flow expected, priorities include reinvesting, dividends, and assessing share buybacks and M&A, with no further need to delever. He also confirmed HNI typically generates $10M-$12M in annual productivity benefits on top of major initiatives. CEO Jeff Lorenger added that KII and Mexico synergies are expected to add approximately 250 bps to Workplace Furnishings margin, targeting a level near 12% by 2026, which would push consolidated EBIT margin above 10%.

    Ask Fintool Equity Research AI

    Gregory Burns's questions to BlackSky Technology (BKSY) leadership

    Gregory Burns's questions to BlackSky Technology (BKSY) leadership • Q4 2024

    Question

    Gregory Burns asked about the Q4 revenue mix, specifically why imagery revenue was lighter than expected while professional and engineering services were higher. He also sought clarity on the expected revenue mix within the 2025 guidance.

    Answer

    CEO Brian O'Toole attributed the lighter imagery revenue primarily to the slower-than-expected transition from the NGA EIM contract to the new Luno program. He explained that professional services revenue can have quarterly variability but is strategically linked to long-term imagery and analytics customers, often driving future subscription agreements. O'Toole anticipates imagery revenue will accelerate as Luno ramps up and Gen-3 capacity becomes available.

    Ask Fintool Equity Research AI