Sign in

    Justin Kleber • Robert W. Baird & Co.

    Justin Kleber's questions to Valvoline Inc (VVV) leadership

    Justin Kleber's questions to Valvoline Inc (VVV) leadership • Q3 2025

    Question

    Justin Kleber from Baird requested more detail on the benefits and paybacks from the recent technology spend, beyond labor leverage. He also asked for the gross margin outlook for Q4.

    Answer

    CEO Lori Flees passionately detailed the benefits, including ERP automation, enhanced employee experience via HRIS, more sophisticated marketing from cloud-based customer data, and improved in-store tech that boosts training, throughput, and customer experience. CFO J. Kevin Willis added that for Q4, the company expects gross margins to be 'at or modestly above prior year as reported.'

    Ask Fintool Equity Research AI

    Justin Kleber's questions to Valvoline Inc (VVV) leadership • Q2 2025

    Question

    Justin Kleber questioned why the company did not tighten its full-year comp guidance given the wide implied range for the second half, and asked about the impact of the Easter holiday shift in Q3.

    Answer

    CEO Lori Flees explained it was premature to narrow guidance since 55-60% of annual profit is generated in the second half during the summer drive season, but she reaffirmed confidence in the existing range. CFO Mary Meixelsperger confirmed an Easter shift headwind for Q3, which is the reverse of an ~80 basis point benefit seen in Q2, and noted it is factored into their forecast.

    Ask Fintool Equity Research AI

    Justin Kleber's questions to Valvoline Inc (VVV) leadership • Q1 2025

    Question

    Justin Kleber pointed out that the full-year EBITDA guidance implies a significant growth slowdown and asked for an explanation. He also inquired about the future penetration potential for premium oil.

    Answer

    CFO Mary Meixelsperger clarified that the apparent slowdown is primarily due to the year-over-year comparison impact of refranchising. She provided pro forma figures, explaining that removing the 39 divested stores from the prior year's base normalizes the growth rate. CEO Lori Flees addressed premiumization, stating that the mix of synthetic blend and full synthetic continues to grow due to OEM requirements and the aging vehicle fleet, expecting it to remain a 100-150 basis point comp tailwind.

    Ask Fintool Equity Research AI

    Justin Kleber's questions to Valvoline Inc (VVV) leadership • Q4 2024

    Question

    Justin Kleber from Baird inquired about the final FY24 contribution from non-oil change revenue (NOCR), the variability in its penetration across the store network, and sought clarification on why lower waste oil collection payments would be a net negative.

    Answer

    CEO Lori Flees highlighted that NOCR was the largest contributor to ticket growth in FY24, with improvements across all store quartiles driven by enhanced training. She noted variability is often tied to staff tenure. CFO Mary Meixelsperger clarified the waste oil comment, explaining that while it historically acts as a hedge to product costs, recent changes from a provider create short-term uncertainty about whether that relationship will hold, even if lower base oil costs are a long-term benefit.

    Ask Fintool Equity Research AI

    Justin Kleber's questions to Driven Brands Holdings Inc (DRVN) leadership

    Justin Kleber's questions to Driven Brands Holdings Inc (DRVN) leadership • Q2 2025

    Question

    Justin Kleber of Baird asked if the mid-30s margin for Take 5 is a ceiling or if there's potential for upward migration, and questioned the drivers of the International Car Wash segment's strength and its outlook for the second half.

    Answer

    EVP & CFO Mike Diamond explained that while not providing long-term forecasts, the company feels good about the sustainable mid-30s margin for Take 5. Regarding the Car Wash segment, he attributed its strong performance to both operational improvements and favorable weather, but cautioned to expect a 'meaningful moderation' in the back half due to tough comparisons and unfavorable weather in July.

    Ask Fintool Equity Research AI

    Justin Kleber's questions to Driven Brands Holdings Inc (DRVN) leadership • Q1 2025

    Question

    Justin Kleber asked about the expected cadence of same-store sales growth for the remainder of the year, given the Q1 result was below the annual guide, and questioned the lag time for lower base oil prices to benefit Take 5's margins.

    Answer

    EVP and CFO Michael Diamond reiterated the full-year same-store sales guidance of 1% to 3%, noting it incorporates performance to date and that he expects performance across segments to balance out over the year. He clarified that there is approximately a one-quarter lag for changes in oil prices to impact product costs.

    Ask Fintool Equity Research AI

    Justin Kleber's questions to Driven Brands Holdings Inc (DRVN) leadership • Q4 2024

    Question

    Justin Kleber inquired about the potential for Take 5 Oil Change to generate over $50 million in incremental EBITDA in 2025, referencing a prior Analyst Day target, and asked for a more precise definition of 'normalized' same-store sales growth for the brand.

    Answer

    EVP & CFO Michael Diamond avoided providing specific subsegment guidance but affirmed Take 5's high growth potential. He explained that 'normalization' implies a same-store sales growth rate below the strong 9.2% seen in Q4 2024. He also noted that the Q4 Maintenance segment margin was impacted by other franchise businesses within the segment but that the company feels very good about the Take 5 margin profile.

    Ask Fintool Equity Research AI

    Justin Kleber's questions to Mister Car Wash Inc (MCW) leadership

    Justin Kleber's questions to Mister Car Wash Inc (MCW) leadership • Q2 2025

    Question

    Justin Kleber from Baird inquired about the expected retention or 'stickiness' of new Titanium members who signed up through recent promotional offers. He also sought more specific details on the encouraging sales trends observed in July, particularly for the retail segment.

    Answer

    CFO Jedidiah Gold expressed confidence that the promotional sign-ups for the Titanium tier will prove sticky, anticipating only a minor fallout consistent with past promotions. Regarding July trends, Gold confirmed an encouraging momentum and improvement in retail, but noted this was expected due to a softer year-over-year comparison.

    Ask Fintool Equity Research AI

    Justin Kleber's questions to Mister Car Wash Inc (MCW) leadership • Q1 2025

    Question

    Justin Kleber asked for real-time data on member churn following the broader rollout of the base price increase. He also pointed out a higher price point in Minnesota and asked for the rationale.

    Answer

    CFO Jedidiah Gold confirmed that real-time churn trends are in line with the results from their initial test markets. CEO John Lai explained that the higher price in Minnesota is an exception driven by the region's strong performance and higher cost of living. Gold reiterated that the system-wide goal is $22.99, not the higher Minnesota price point.

    Ask Fintool Equity Research AI

    Justin Kleber's questions to Mister Car Wash Inc (MCW) leadership • Q4 2024

    Question

    Justin Kleber asked about the company's appetite to take on additional leverage for M&A in the current rate environment and requested color on the modeling assumptions for UWC member growth in 2025.

    Answer

    CEO John Lai stated a willingness to 'lean in a little bit on leverage' for a quality acquisition with a clear path to deleveraging, noting they also scrutinize lease-adjusted leverage. CFO Jed Gold added that any decision depends on the asset quality and confidence in returning leverage to their target range. For 2025, Gold clarified they assume 'slightly positive' membership growth on a comparable store basis at the high end of the guidance.

    Ask Fintool Equity Research AI

    Justin Kleber's questions to Mister Car Wash Inc (MCW) leadership • Q3 2024

    Question

    Justin Kleber inquired about the cadence of comparable store sales through Q3 and into October, and also asked about the outlook for revenue per member (RPM) growth in 2025 as the company laps its Titanium membership launch.

    Answer

    Jedidiah Gold, an executive, confirmed that comparable sales saw sequential improvement each month during the quarter, reaching the mid-single-digit range in August and September with further improvement in October. Regarding 2025, Gold stated that while some continued benefit from Titanium is expected, the company is not prepared to provide specific guidance until the Q4 earnings call.

    Ask Fintool Equity Research AI

    Justin Kleber's questions to DICK'S Sporting Goods Inc (DKS) leadership

    Justin Kleber's questions to DICK'S Sporting Goods Inc (DKS) leadership • Q1 2025

    Question

    Justin Kleber questioned what drives the guided gross margin acceleration for the full year and asked if share buybacks would be paused pending the Foot Locker acquisition.

    Answer

    Executive VP & CFO Navdeep Gupta explained that margin expansion will be driven by the same factors as Q1 (product mix, pricing, vertical brands), with an added contribution from the scaling of GameChanger and DICK'S Media Network in the back half. On buybacks, he stated the company will remain flexible but is subject to restrictions during the S-4 filing process.

    Ask Fintool Equity Research AI

    Justin Kleber's questions to DICK'S Sporting Goods Inc (DKS) leadership • Q3 2024

    Question

    Justin Kleber asked if a softer, warmer end to the quarter contributed to the decline in transactions and which elements of House of Sport are proving most impactful in the smaller Field House store format.

    Answer

    President and CEO Lauren Hobart clarified that the quarter was strong throughout and weather did not have a material impact. She explained that key learnings from House of Sport, such as improved service, better assortment, and experiences, are being translated into the Field House concept and across the entire store portfolio. CFO Navdeep Gupta added that the product portfolio helps navigate weather shifts, with categories like golf performing well in moderate temperatures.

    Ask Fintool Equity Research AI

    Justin Kleber's questions to DICK'S Sporting Goods Inc (DKS) leadership • Q2 2024

    Question

    Justin Kleber asked about the outlook for shrink in the second half of the year and questioned why the total sales guidance was held steady despite an increase in the comparable sales forecast.

    Answer

    President and CEO Lauren Hobart stated that after lapping the prior year's true-up, shrink is expected to be flat in the second half. CFO Navdeep Gupta explained that the unchanged total sales guidance was a function of minor factors like non-comp sales and rounding, not a reflection of weakening expectations.

    Ask Fintool Equity Research AI

    Justin Kleber's questions to Floor & Decor Holdings Inc (FND) leadership

    Justin Kleber's questions to Floor & Decor Holdings Inc (FND) leadership • Q3 2024

    Question

    Justin Kleber of Baird sought clarification on the quarter-to-date comp performance, asking if it included a net drag from hurricanes and whether the fourth-quarter guidance incorporates any lift from rebuild efforts.

    Answer

    CFO Bryan Langley clarified that the quarter-to-date comp of down 4.2% is effectively neutral from storm impacts, as initial headwinds from closures have been offset by some early business pickup. He confirmed that the Q4 guidance does not include any material pickup from hurricane rebuilds, as it is still too early to quantify the potential benefit.

    Ask Fintool Equity Research AI

    Justin Kleber's questions to Academy Sports and Outdoors Inc (ASO) leadership

    Justin Kleber's questions to Academy Sports and Outdoors Inc (ASO) leadership • Q2 2025

    Question

    Justin Kleber asked for details on merchandise margin performance in Q2 and the assumptions for the back half of the year. He also requested clarification on the sales and EPS benefit from the 53rd week calendar shift in Q2 and how that headwind will reverse.

    Answer

    CFO Carl Ford explained that the 50 basis point gross margin improvement in Q2 included a 20 basis point tailwind from merchandise margin. CEO Steve Lawrence added that the full-year guidance implies merchandise margin would be the primary driver if they reach the high end. Ford also quantified the Q2 calendar shift benefit at approximately $35 million in sales, noting the bulk of this will reverse in Q3.

    Ask Fintool Equity Research AI