Technology
New Energy Blue and ARCO/Murray partner to build biomass refineries to produce sustainable fuels and chemicals
Published
2 years agoon
By
LANCASTER, Pa. and CHICAGO, June 24, 2024 /PRNewswire/ — New Energy Blue, the clean-energy developer whose technology converts agricultural waste into lowest-carbon biofuels and biochemicals, and ARCO/Murray, one of America’s largest, most experienced, and fastest-growing construction firms, today announce a partnership to build out the New Energy Biomass Refinery designed platform across the American Midwest.
ARCO/Murray will construct the flagship New Energy Freedom biomass refinery in Mason City, Iowa, to sustainably process corn stalks into second-generation fuel ethanol and clean lignin at large commercial capacity. The partners have agreed to a $650 million construction contract. In 2023, New Energy Blue completed the design engineering, obtained local permits to proceed, and conducted field trials of new harvesting methods and machinery; in 2024, the project entered the final investment decision (FID) phase. The partners plan to break ground later this year and start up the refinery in 2026.
The significant economic impact anticipated is comparable to that typically seen with first-generation ethanol facilities. In Iowa, the state responsible for approximately one-quarter of U.S. production, the industry contributes about $8 billion to household incomes annually and 100,000 indirect and induced jobs. The construction of the Freedom refinery in Mason City is projected to generate between 400 and 500 high-paying construction positions over a 20-month period. Refinery operators and feedstock suppliers from New Energy Farmers aggregation team will hold about 70 permanent jobs carrying an annual payroll of $7 million. The economic ripple effects will likely support another 5,000 jobs. Local corn growers stand to benefit by not only selling their excess corn stalks to the refinery but also participating in profit-sharing through the New Energy Farmers business unit.
Patrick Hidder, Executive Vice President of ARCO/Murray’s Green Infrastructure team, says, “We are excited to partner with New Energy Blue on this groundbreaking biomass refining project, reflecting our shared commitment to sustainability and innovation in the renewable energy sector. We welcome the opportunity to help launch a nascent industry dedicated to decarbonizing this country’s fuel and chemicals.”
James Foster, Vice President of Construction for New Energy Blue, says the selection of ARCO/Murray as engineering, procurement, and construction (EPC) contractor “has paid off immediately. Their involvement is letting us accelerate the project schedule, manage costs, and provide the necessary bonding capacity needed to satisfy finance. ARCO/Murray’s expertise in process piping, water treatment, anaerobic digestion, and power solutions has already added significant value.”
Following Freedom’s successful completion, New Energy Blue and ARCO/Murray have agreed to extend their partnership to four more New Energy biomass refineries in the next five years, clustered near the first to take advantage of the area’s superabundance of corn stover. Harvesting within a 30-mile radius of each operation makes it possible to build refineries with twice the output of Freedom.
As the refineries proliferate, New Energy Blue CEO Thomas Corle says he intends to license the technical and business model in order to allow faster replacement of fossil oil and gas-refined fuels and chemicals with biomass-refined. “ARCO/Murray is right-sized to handle the construction–$6.8 billion in revenue in 2023, and a history of 5500 finished projects.”
Lee Stellakis, Chief Operating Officer of ARCO/Murray, believes the investment made in this partnership presents a huge growth potential in green infrastructure construction, which his management sees as essential to a sustainable future. He’s especially enthusiastic about the important role carbon-zero renewable fuels will play in transforming auto and airline travel by reducing atmospheric emissions.
The new partners envision exponential growth: 15 biomass refineries operating by 2030, 150 by 2040, and 500 by 2050—generating an annual total of 21 billion gallons of 2G ethanol from leftover stalks and straws as well as perennial energy grasses like miscanthus. Predictions based on New Energy Blue’s latest independent life-cycle analysis are heartening: 500 refineries can keep more than 130 million tons of CO2 out of the atmosphere every year, an essential reduction in the effects of climate extremes on human health.
In 2019, New Energy Blue purchased exclusive rights to its Inbicon technology from Ørsted, Denmark’s largest energy company. “Many of us worked on the team to prove and market the original conversion technology and, in 2010, to construct our predecessor biomass refinery in Kalundborg, Denmark. It’s now owned and managed by Meliora Bio, and still processes Danish wheat straw into 2G ethanol and various coproducts,” Corle says.
New Energy Blue has made important process optimizations over the years. To assure dependable execution of its design, it counts on longstanding relationships with proven suppliers like two European specialists: Processbio for its automated front-end bale-handling system and Valmet for the thermal reactors that cook the biomass. The cooking facilitates the release of cellulosic sugars and the extraction of clean lignin, the woody structure of the corn stalk. The cellulosic sugars are fermented into 2G ethanol for auto fuel or downstream conversion into biochemicals. The extracted lignin is used in the production of polymers and binders, serving as sustainable alternatives in road construction and replacing traditional oil and gas components in the manufacturing of eco-friendly polyesters, polyurethanes, and resins.
About New Energy Blue:
New Energy Blue is a clean-energy developer dedicated to designing, owning, and operating next-generation biomass refineries in closer harmony with nature’s carbon cycle. Built on an innovative technical and business platform, the new refineries convert agricultural waste like corn stalks and grain straws into greener renewables like zero-carbon or carbon-negative fuels, chemicals, and plastics that can sustainably and profitably replace petroleum-based products. Offices in Lancaster, Pennsylvania and Mason City, Iowa. Learn much more at www.newenergyblue.com.
About ARCO/Murray:
ARCO/Murray is a national leader in the design-build construction industry with over 30 years of experience and a commitment to delivering innovative and cost-effective solutions. With 40 offices across North America, ARCO/Murray has successfully completed over 5,500 projects, generating $6.8 billion in revenue in 2023. The company prides itself on integrating design, engineering, and construction services, ensuring a seamless and efficient construction process for clients.
ARCO/Murray’s Green Infrastructure team is dedicated to supporting companies that are transforming industries for a greener future. Specializing in complex engineering solutions and sustainable construction practices, the team focuses on environmentally friendly projects that drive the adoption of renewable energy and sustainable technologies. Their expertise enables ARCO/Murray to partner with forward-thinking companies like New Energy Blue, delivering innovative facilities that contribute to a more sustainable world.
Media Contact:
Roger Moore, New Energy Blue
717-224-0245
rogermoore@newenergyblue.com
Kelly O’Hara, ARCO/Murray
kohara@arcomurray.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/new-energy-blue-and-arcomurray-partner-to-build-biomass-refineries-to-produce-sustainable-fuels-and-chemicals-302178372.html
SOURCE New Energy Blue
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Technology
The Inner Circle acknowledges Robert Cable, CEO as an Inner Circle Lifetime
Published
14 minutes agoon
June 15, 2026By
FAIRFAX STATION, Va., June 15, 2026 /PRNewswire/ — Prominently featured in The Inner Circle, Robert Cable, CEO is acknowledged as an Inner Circle Lifetime for his contributions to National Security and Defense Solutions.
Robert Cable has built a distinguished career in national security and defense solutions, recognized for his leadership in supporting mission critical operations and advancing technology integration for government and defense organizations. As the leader of a veteran owned small business, he delivers innovative solutions designed to enhance operational efficiency and safeguard sensitive information.
Mr. Cable specializes in national security operations, defense technology integration, and information security. His work focuses on supporting software defined warfare capabilities and ensuring that government agencies are equipped with the tools and systems necessary to maintain readiness in complex and evolving environments. His solutions emphasize reliability, efficiency, and the protection of advanced technologies.
A former United States Navy officer who achieved the rank of O5, Mr. Cable brings extensive military leadership experience to his work in the private sector. He has successfully transitioned his service background into building and leading a business that supports critical national security initiatives and defense operations on a global scale.
Throughout his career, Mr. Cable has remained committed to mission driven leadership and teamwork. His philosophy emphasizes rapid response, collaboration, and the importance of viewing colleagues as teammates working toward a shared objective. This approach has contributed to the continued growth and effectiveness of his organization.
In addition to his professional accomplishments, Mr. Cable maintains affiliations with organizations such as the Navy League and the Capitol Hill Club. He values the support of his family, friends, and teammates, who have played an important role in his journey. He is also a proud father of two sons and acknowledges his daughter in law, who serves as the company’s lead scientist.
Outside of his professional work, he enjoys hot rods, outdoor activities, and sports, maintaining a balanced lifestyle while continuing to pursue excellence in his field.
Looking ahead, Mr. Cable remains focused on addressing complex national security challenges and developing innovative solutions that strengthen operational readiness and defense capabilities.
Guided by a philosophy rooted in tenacity, teamwork, and mission focus, Mr. Cable continues to make a meaningful impact in the field of national security and defense.
Contact: Katherine Green, 516-825-5634, editorialteam@continentalwhoswho.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/the-inner-circle-acknowledges-robert-cable-ceo-as-an-inner-circle-lifetime-302800649.html
SOURCE The Inner Circle
Technology
Inseye Tiny® Behavioral Co-Processor Unveiled at AWE USA 2026
Published
14 minutes agoon
June 15, 2026By
Industry-first innovation brings always-on user context and intentional UI to next-generation intelligent eyewear collections
LONG BEACH, Calif. and DOVER, Del., June 15, 2026 /PRNewswire/ — Inseye Technologies Inc. today announced that it will introduce and demonstrate Inseye Tiny®, its latest eye-motion sensor at AWE USA 2026 (Booth #1046) in Long Beach, California.
Behavioral co-processor: always-on | <10 mW | 100 Hz | camera-free & zero moving partsBehavioral signals bring user context to AI assistanceIntuitive gaze gestures drive intentional user interfaces (UI)Inseye is on track for Q4 2026 eval kit shipments to OEM partnersLive at AWE Builder’s Stage: June 16, 3:45pm (Promenade Room 104B) “From Eye Movements to User Context: Building More Personal AI Glasses with Inseye Tiny®” Speaker: Piotr Krukowski, CEO, Inseye TechnologiesVisit Inseye at Booth #1046 for in-person demos
Leading OEMs are rapidly scaling the number of sensors including cameras, microphones, and other inputs that connect with multimodal AI models to serve intelligent assistance to users of artificial intelligence (AI) glasses. But one critical signal remained elusive until now: the understanding of the user’s state and intent.
Enabling Contextual AI Assistance: Knowing How to Help & When to Stay Quiet
“A truly intelligent assistant is never intrusive but always understands precisely if and how the user needs help and which experience to activate next,” said Piotr Krukowski, CEO of Inseye Technologies. “When the user is in a focused state of flow, the best interface is likely no interface at all. Inseye Tiny® provides AI glasses with this high-fidelity behavioral signal while also meeting the most demanding form factor, weight, robustness, and power requirements of everyday eyewear.”
The Behavioral Layer: Understanding User Activities
“Inseye Tiny® samples eye-movement with high temporal resolution and decodes patterns associated with visual tasks such as reading or scanning text, searching, focus stability, context switching, distraction, and other user activies,” explains Michal Meina, CTO of Inseye Technologies. “We then infer signals about user behavior and state and deliver these to the application layer. By analyzing these behavioral patterns over days and weeks, Tiny® can help users understand when they work best, when their focus tends to drift, and how different environments or routines affect their productivity. Additionally, it is Inseye’s camera-free sensing technology and zero moving parts that make our solution privacy-first and ultra-robust by design. Tiny® is uniquely fit to function in sensitive and harsh environments.”
The UI Layer: From Intuitive Gaze Gestures to Intentional UI
“The human gaze is not a mouse pointer,” said Klaudia Borowczyk, COO of Inseye Technologies. “With Inseye Tiny® we are now able to detect and evaluate subtle, intuitive gaze patterns (“gaze gestures”), infer the user’s intent, and complete short and satisfying UI interactions.”
The UI layer supports all frequently used actions such as activating the display, selecting an app, scrolling text, answering/rejecting incoming calls, switching dashboards, or unfolding a notification.
Combining the UI and behavioral layer helps developers build low friction experiences with a deeper, contextual understanding of the user.
“The result is a shift from reactive AI glasses to proactive AI glasses: systems that respond not only to external events, but also use user attention, intent, and current activity to decide which choices to present and which action to take next” summarized Klaudia Borowczyk, “And we can’t wait to see the experiences you will build on Inseye Tiny®.”
Evaluation Kit Availability
Inseye announces that it has successfully started pilot manufacturing and is now taking pre-orders from qualified OEMs, ODMs, and eyewear companies. The company plans to ship Inseye Tiny® evaluation kits and support integration, verification, and validation projects starting November 2026. To submit a pre-order request for quotation, please visit https://inseye.tech/en/request-devkit/
About Inseye Technologies
Inseye Technologies develops ultra-low-power eye-sensing systems for intelligent eyewear. The company focuses on camera-free, miniaturized sensing architectures that transform eye movement into behavioral signals for context-aware AI interaction, productivity, well-being, and privacy-preserving user context. Inseye operates with a distributed team across Europe, North America, and Asia. For more information, please visit https://inseye.tech/
Forward-Looking Statements
This press release contains forward-looking statements, including statements regarding product development, pilot manufacturing, evaluation kit availability, pre-orders, OEM integration, and future commercialization plans. These statements are based on current expectations and are subject to manufacturing, engineering, supply-chain, and market-adoption risks. Inseye Tiny® productivity and well-being features are intended to provide behavioral insights and are not intended to diagnose, treat, cure, or prevent any disease or medical condition.
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SOURCE Inseye Technologies, Inc
Technology
McRAE INDUSTRIES, INC. REPORTS EARNINGS FOR THE THIRD QUARTER AND FIRST NINE MONTHS OF FISCAL 2026
Published
14 minutes agoon
June 15, 2026By
MOUNT GILEAD, N.C., June 15, 2026 /PRNewswire/ — McRae Industries, Inc. (Pink Sheets: MCRAA and MCRAB) reported consolidated net revenues for the third quarter of fiscal 2026 of $27,418,000 as compared to $30,870,000 for the third quarter of fiscal 2025. Net earnings for the third quarter of fiscal 2026 amounted to $858,000, or $0.38 per diluted Class A common share, as compared to $3,160,000, or $1.40 per diluted Class A common share, for the third quarter of fiscal 2025.
Consolidated net revenues for the first nine months of fiscal 2026 totaled $86,569,000 as compared to $87,120,000 for the first nine months of fiscal 2025. Net earnings for the first nine months of fiscal 2026 amounted to $3,262,000, or $1.45 per diluted Class A common share, as compared to net earnings of $6,059,000, or $2.68 per diluted Class A common share, for the first nine months of fiscal 2025.
THIRD QUARTER FISCAL 2026 COMPARED TO THIRD QUARTER FISCAL 2025
Consolidated net revenues totaled $27.4 million for the third quarter of fiscal 2026 as compared to $30.9 million for the third quarter of fiscal 2025. Sales related to our western/lifestyle boot products for the third quarter of fiscal 2026 totaled $19.7 million as compared to $20.2 million for the third quarter of fiscal 2025. This decrease in net revenues was mainly driven by a decrease in our Laredo brand. Revenues from our work boot products decreased from $8.7 million for the third quarter of fiscal 2025 to $7.9 million for the third quarter of fiscal 2026. This was primarily a result of decreased orders on military boots. Additionally, third quarter revenues for fiscal 2025 included $2.0 million in land sales through our affiliate American Mortgage Investment Company (AMIC).
Consolidated gross profit for the third quarter of fiscal 2026 amounted to approximately $6.9 million as compared to $9.8 million for the third quarter of fiscal 2025. Gross profit, as a percentage of net revenues, decreased from 31.7% for the third quarter of fiscal 2025 to 25.2% for the third quarter of fiscal 2026. Gross profit in the prior year was positively affected by $1.6 million from the land sale mentioned above. Our margins have also been negatively impacted by tariffs, as we paid $0.8 million in the third quarter for tariffs. Based on current information, we are seeking a refund for these tariff costs (as well as tariff costs for prior periods) but there can be no assurance we will receive any such refunds.
Consolidated selling, general and administrative expenses totaled approximately $6.1 million for the third quarter of fiscal 2026 as compared to $6.3 million for the third quarter of fiscal 2025. This decrease resulted primarily from decreased commissions, offset by an increase in marketing expenses.
As a result of the above, the consolidated operating profit for the third quarter of fiscal 2026 amounted to $0.8 million as compared to $3.5 million for the third quarter of fiscal 2025.
FIRST NINE MONTHS FISCAL 2026 COMPARED TO FIRST NINE MONTHS FISCAL 2025
Consolidated net revenues for the first nine months of fiscal 2026 totaled $86.6 million as compared to $87.1 million for the first nine months of fiscal 2025. Our western and lifestyle product sales totaled $63.8 million for the first nine months of fiscal 2026 as compared to $61.6 million for the first nine months of fiscal 2025. This increase in net revenues was driven by an increase in our Dan Post and Dingo brands, offset by a decrease in our Laredo and El Dorado brands. Net revenues from our work boot business decreased from $24.2 million for the first nine months of fiscal 2025 to $23.3 million for the first nine months of fiscal 2026. This decrease was in our Dan Post and Laredo work brands.
Consolidated gross profit totaled $22.1 million, or 25.6%, for the first nine months of fiscal 2026 as compared to $25.3 million, or 29.0%, for the first nine months of fiscal 2025. This decrease was not only driven by the land sale mentioned above, but also $3.0 million in tariffs paid in this fiscal year. Based on current information, we are seeking a refund for these tariff costs (as well as tariff costs for prior periods) but there can be no assurance we will receive any such refunds.
Consolidated selling, general and administrative expenses totaled approximately $19.5 million for the first nine months of fiscal 2026 as compared to $19.2 million for the first nine months of fiscal 2025. This increase resulted primarily from increased marketing expenses.
As a result of the above, the consolidated operating profit amounted to $2.6 million for the first nine months of fiscal 2026 as compared to $6.1 million for the first nine months of fiscal 2025.
On April 29th, 2026, McRae Industries, Inc. received a contract award from The United States Government DLA Troops Support for Airforce temperate weather boots. This contract has a 36 month ordering period with first delivery no later than 150 days from contract award. The estimated dollar amount for the award is $15,441,664.
Financial Condition and Liquidity
Our financial condition remained strong at May 2, 2026 as cash and cash equivalents totaled $20.6 million as compared to $31.6 million at August 2, 2025. Our working capital decreased from $85.9 million at August 2, 2025 to $72.5 million at May 2, 2026.
We currently have two lines of credit totaling $6.75 million, all of which was fully available at May 2, 2026. One credit line totaling $1.75 million (which is restricted to one hundred percent of the outstanding receivables due from the Government) expires in January 2027. Our $5.0 million line of credit, which also expires in January 2027, is secured by the inventory and accounts receivable of our Dan Post Boot Company subsidiary.
For the first nine months of fiscal 2026, operating activities provided approximately $4.5 million of cash. Net earnings, as adjusted for depreciation and other non-cash items, contributed approximately $3.2 million of cash. Increased accounts receivable and decreased employee benefits liabilities used approximately $2.0 million of cash. Decreased accounts payable and other assets provided approximately $2.5 million of cash.
Net cash used by investing activities totaled approximately $13.6 million, primarily due to the purchase of fixed assets and securities, offset by the sale of securities.
Net cash used in financing activities totaled $1.8 million, which was used primarily for dividend payments and the repurchase of stock.
We believe that our current cash and cash equivalents, cash generated from operations, and available credit lines will be sufficient to meet our capital requirements for the remainder of fiscal 2026.
Forward-Looking Statements
This press release includes certain forward-looking statements. Important factors that could cause actual results or events to differ materially from those projected, estimated, assumed or anticipated in any such forward-looking statements include: the effect of competitive products and pricing, the potential impact of tariffs on our business, uncertainties concerning the tariff refund program announced in March 2026, risks unique to selling goods to the Government (including variation in the Government’s requirements for our products and the Government’s ability to terminate its contracts with vendors), changes in fashion cycles and trends in the western boot business, loss of key customers, acquisitions, supply interruptions, additional financing requirements, our expectations about future Government orders for military boots, loss of key management personnel, our ability to successfully develop new products and services, and the effect of general economic conditions in our markets.
McRae Industries, Inc. and Subsidiaries
CONSOLIDATED BALANCE SHEETS
(In thousands, except share data)
(Unaudited)
May 2,
2026
August 2,
2025
ASSETS
Current assets:
Cash and cash equivalents
$20,634
$31,593
Equity investments
9,383
8,730
Debt securities
4,963
6,786
Accounts receivable, net
18,945
17,836
Inventories, net
24,325
24,599
Income tax receivable
350
639
Prepaid expenses and other current assets
577
1,611
Total current assets
79,178
91,794
Property and equipment, net
8,824
5,274
Other assets:
Deposits
3
14
Right to Use Asset
1,174
1,589
Real estate held for investment
2,321
2,311
Debt securities
16,327
5,032
Trademarks
2,824
2,824
Total other assets
22,648
11,770
Total assets
$110,650
$108,838
McRae Industries, Inc. and Subsidiaries
CONSOLIDATED BALANCE SHEETS
(In thousands, except share data)
(Unaudited)
May 2,
2026
August 2,
2025
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable
$3,577
$2,093
Accrued employee benefits
548
1,232
Accrued payroll and payroll taxes
973
823
Lease liability
555
555
Other
980
1,143
Total current liabilities
6,633
5,846
Lease liability
619
1,034
Deferred tax liabilities
382
382
Total liabilities
7,634
7,262
Shareholders’ equity:
Common Stock:
Class A, $1 par value; authorized 5,000,000 shares
issued and outstanding, 1,888,332 and 1,892,793
shares, respectively
1,888
1,893
Class B, $1 par value; authorized 2,500,000 shares;
issued and outstanding, 361,904 and 362,977
shares, respectively
362
363
Retained earnings
100,766
99,320
Total shareholders’ equity
103,016
101,576
Total liabilities and shareholders’ equity
$110,650
$108,838
McRae Industries, Inc. and Subsidiaries
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except share data)
(Unaudited)
Three Months Ended
Nine Months Ended
May 2,
May 3,
May 2,
May 3,
2026
2025
2026
2025
Net revenues
$27,418
$30,870
$86,569
$87,120
Cost of revenues
20,520
21,077
64,420
61,859
Gross profit
6,898
9,793
22,149
25,261
Selling, general and administrative expenses
6,114
6,279
19,508
19,190
Operating profit
784
3,514
2,641
6,071
Other income
427
271
1,869
1,733
Earnings before income taxes
1,211
3,785
4,510
7,804
Provision for income taxes
353
625
1,248
1,745
Net earnings
$858
$3,160
$3,262
$6,059
Earnings per common share:
Diluted earnings per share:
Class A
0.38
1.40
1.45
2.68
Class B
NA
NA
NA
NA
Weighted average number of common shares outstanding:
Class A
1,892,499
1,895,011
1,892,695
1,895,893
Class B
362,906
363,509
362,953
363,720
Total
2,255,405
2,258,520
2,255,648
2,259,613
McRae Industries, Inc. and Subsidiaries
CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY
(In thousands, except share data)
(Unaudited)
Common Stock, $1 par value
Accumulated Other
Class A
Class B
Comprehensive
Retained
Shares
Amount
Shares
Amount
Income (Loss)
Earnings
Balance, August 3, 2024
1,896,334
$1,897
363,826
$364
$0
$94,805
Cash Dividend ($0.14 per Class A common stock)
(265)
Cash Dividend ($0.14 per Class B common stock)
(51)
Net earnings
1,846
Balance, November 2, 2024
1,896,334
$1,897
363,826
$364
$0
$96,335
Cash Dividend ($0.84 per Class A common stock)
(1,592)
Cash Dividend ($0.84 per Class B common stock)
(304)
Net earnings
1,053
Balance, February 1, 2025
1,896,334
$1,897
363,826
$364
$0
$95,492
Stock Buyback
(3,541)
(4)
(849)
(1)
(214)
Cash Dividend ($0.14 per Class A common stock)
(266)
Cash Dividend ($0.14 per Class B common stock)
(51)
Net earnings
3,160
Balance, May 3, 2025
1,892,793
$1,893
362,977
$363
$0
$98,121
Common Stock, $1 par value
Accumulated Other
Class A
Class B
Comprehensive
Retained
Shares
Amount
Shares
Amount
Income (Loss)
Earnings
Balance, August 2, 2025
1,892,793
$1,893
362,977
$362
$0
$99,320
Cash Dividend ($0.14 per Class A common stock)
(265)
Cash Dividend ($0.14 per Class B common stock)
(51)
Net earnings
1,449
Balance, November 1, 2025
1,892,793
$1,893
362,977
$362
$0
$100,453
Cash Dividend ($0.42 per Class A common stock)
(795)
Cash Dividend ($0.42 per Class B common stock)
(152)
Net earnings
956
Balance, January 31, 2026
1,892,793
$1,893
362,977
$362
$0
$100,462
Stock Buyback
(4,461)
(4)
(1,073)
(1)
(238)
Cash Dividend ($0.14 per Class A common stock)
(265)
Cash Dividend ($0.14 per Class B common stock)
(51)
Net earnings
858
Balance, May 2, 2026
1,888,332
$1,889
361,904
$361
$0
$100,766
McRae Industries, Inc. and Subsidiaries
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)
Nine Months Ended
May 2,
May 3,
2026
2025
Cash Flows from Operating Activities:
Net earnings
$3,262
$6,059
Adjustments to reconcile net earnings to net cash used in operating activities
1,214
(3,810)
Net cash provided in operating activities
4,476
2,249
Cash Flows from Investing Activities:
Proceeds from sale of land
–
2,010
Purchase of land
(10)
–
Proceeds from sale of fixed assets
–
263
Capital expenditures
(4,125)
(669)
Purchase of securities
(14,079)
(2,216)
Proceeds from sale of securities
4,600
9,509
Net cash used in investing activities
(13,614)
8,897
Cash Flows from Financing Activities:
Repurchase company stock
(243)
(219)
Dividends paid
(1,578)
(2,529)
Net cash used in financing activities
(1,821)
(2,748)
Net (Decrease) Increase in Cash and Cash equivalents
(10,959)
8,398
Cash and Cash Equivalents at Beginning of Year
31,593
20,723
Cash and Cash Equivalents at End of Period
$20,634
$29,121
View original content:https://www.prnewswire.com/news-releases/mcrae-industries-inc-reports-earnings-for-the-third-quarter-and-first-nine-months-of-fiscal-2026-302800719.html
SOURCE McRae Industries, Inc.
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