In a nutshell, we decided to initiate On with an equal weight valuation, recognizing the company as a highly innovative brand ready to gain end-market share.

Source: https://seekingalpha.com/article/4637847-on-holding-consider-holding-your-position?source=feed_all_articles

Looking forward, I believe the volume decline should continue in 2023, impacting revenue growth in the near term. The end-market demand is declining, especially on the retail side of the business.

Source: https://seekingalpha.com/article/4567595-saia-should-emerge-stronger-on-the-other-side-of-the-cycle?source=feed_all_articles

Volume, however, decreased 7% year-over-year, driven primarily by softening end-market demand in our wholesale channel.

Source: https://seekingalpha.com/article/4582018-masonite-international-corporation-door-q4-2022-earnings-call-transcript?source=feed_all_articles

We continue to expect our fiscal ‘24 3D sensing revenue will be lower than that of fiscal ‘23 due to our assumption around 3D sensing end-market demand, pricing and an additional competitor on a certain pocket, as discussed previously.

Source: https://seekingalpha.com/article/4629328-lumentum-holdings-inc-lite-q4-2023-earnings-call-transcript?source=feed_all_articles