Smartkarma Daily Briefs

• Starting next week, the tax subcommittee is set to hash out the 25% proposal, and with the opposition unlikely to block it, the 25% top rate is basically locked in.
• The street’s treating 30% payout as base case, betting on more upside. The committee may pick it up next week, with headlines likely hitting the KRX tape fast.
• Locals are already chasing 30%+ payout, deep-value names, with gov’t aiming for a Taiwan-style re-rating. If dividend-tax headlines drop next week, these screened names could rip.

Key points (machine generated)

• Caster, listed on the Tokyo Stock Exchange Growth Market in October 2023, reported increased revenue but an operating loss for the fiscal year ending August 2025.
• The company focuses on alleviating labor shortages for SMEs by connecting them with remote workers, promoting remote work normalization.
• Caster has over 5,800 users, primarily from startups and SMEs, employs around 800 individuals, and operates entirely remotely.

This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only.

• Equifax Inc.’s results for the third quarter of 2025 reflect a period of robust revenue growth intertwined with complex operational adjustments.
• The company reported a revenue of $1.54 billion, marking a growth of over 7% in both constant currency and reported dollars.
• This performance surpassed the guidance provided in July by $25 million, primarily courtesy of strong performance in U.S. mortgage, Employment & Income Verification (EWS), and U.S. Information Solutions (USIS) non-mortgage sectors.

• Integrated Engineering and Industrial Gas Provider with Strong Regional Presence: Kelington Group Berhad (KGB) is a Malaysia-based investment holding company that provides integrated engineering services, construction, and general trading. The company operates through two main segments: Engineering and Industrial Gases, serving a diverse range of industries including electronics, semiconductor, petrochemical, and food and beverage across Malaysia, Singapore, China, and Taiwan.
• Leveraging Growth in the Semiconductor Industry: A significant portion of KGB’s business is tied to the semiconductor sector through its Ultra-High Purity (UHP) division, which provides gas and chemical delivery solutions. The company is well-positioned to benefit from the long-term growth of the semiconductor industry, driven by advancements in AI, IoT, and electric vehicles. Recent expansion into Germany and Hong Kong is a strategic move to capture a larger share of the global semiconductor capital expenditure.
• Diversified Business Model Mitigates Cyclicality: While the UHP segment is a primary revenue contributor, KGB has diversified its operations to include Process Engineering, General Contracting, and an Industrial Gases division. This diversification helps to mitigate the risks associated with the cyclical nature of the semiconductor industry and provides multiple avenues for growth. The industrial gases business, particularly the supply of liquid carbon dioxide (LCO2), is a key pillar for future growth with strong demand from the food and beverage sector.

This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

• Uber Technologies, Inc. recently reported its third-quarter 2025 earnings, highlighting solid growth in its operations, both in Mobility and Delivery sectors.
• The company recorded a marked increase in trips by 22%, the fastest growth since 2023, driven predominantly by enhancements in innovation and execution strategies.
• As a result of strong audience engagement and operational efficiency, gross bookings grew by 21% while maintaining relatively stable pricing.

• Reliable momentum from a resilient model – JES delivered steady organic growth in Q1–2 FY3/26 and remains on track to reach its 20% operating margin target (pre–goodwill amortization) on a sustainable basis, in our view.
• Maintenance contracts and modernization unit volumes continued to grow at double-digit YoY rates, underscoring ongoing organic customer acquisition.
• The company is investing in engineers, building sufficient capacity to drive maintenance contract growth. 

• Rising demand for commodities testing, supported by the soaring gold price, provided a strong first half for ALS Ltd, and it appears there’s more to come.
• -ALS Ltd first half beat expectations -Better than expected growth in minerals testing -Junior miners set to begin exploration, increasing demand -Guidance seen as conservative

• The company is executing an ambitious capital expenditure plan focused on integrating raw material sources and nearly doubling grinding capacity to 41.85 MTPA by CY28.
• JSW Cement reported robust Q2 FY26 results, delivering a 64.2% YoY surge in operating EBITDA to INR267.5 crore, underpinned by 14.9% volume growth, cost control, achieving an EBITDA/tonne of INR860.
• JSW Cement’s ‘green premium’ strategy and structural cost advantage position it for a potential re-rating.

Key points (machine generated)

• Caster, listed on the Tokyo Stock Exchange, reported revenue growth despite an operating loss for the fiscal year ending August 2025.
• The company specializes in connecting small and medium-sized enterprises with remote workers to address labor shortages and promote remote work.
• With over 5,800 users and 800 employees, Caster has developed a user-friendly platform and successfully implemented a full remote work model.

This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only.

• CXW has authorized an increase to the existing share repurchase plan to purchase up to an additional $200m in CXW shares.
• The aggregate authorization increased from up to $500m of its shares to up to $700m.
• With the added authorization, CXW had $377.9m of repurchase authorization available under the plan as of Nov.

• Eaton Corporation’s third-quarter 2025 earnings results reflect a mix of robust growth in its key segments, tempered by challenges in some shorter-cycle markets.
• The company reported organic growth of 7% overall, with strong performances in its Electrical Americas and Aerospace divisions.
• Notably, orders in the Electrical Americas segment soared, with a 7% increase on a rolling 12-month basis and a backlog growth of 20%.

• After PFISTERER was still affected by the relocation of the Wunsiedel site to Kadaň at the beginning of the year, it embarked on an impressive growth course from the second quarter of 2025 onwards.
• This continued in the third quarter of 2025 with a 25.5% increase in sales, bringing sales after nine months to €326.63 million, up 14.5% on the previous year’s figure of €285.16 million.
• In line with the significant increase in sales, PFISTERER shows noticeable improvements at all earnings levels.

• The combination of weaker-than- expected FY9/25 results, conservative near-term guidance, and maintaining medium-term objectives suggests that greater visibility will be needed before confidence in the earnings outlook can improve, in our view.
• Despite strong performance in the Sustainability segment, expectations for FY9/26 are for a modest YoY contraction before returning to growth.
• Although steady growth is expected in the Fine Chemicals and Life Science segments over the medium term, the company is likely to experience a moderation in growth before growth re-accelerates in FY9/27.

• Satrec Initiative is a key player in the South Korean space industry, specializing in Earth observation (EO) satellite systems and vertically integrated solutions, including ground systems, imagery services, and AI-based analytics.
• The strategic investment by Hanwha Aerospace, making it the largest shareholder, provides significant financial backing and synergies, positioning the company for growth in both domestic and international defense and commercial markets.
• Future growth is underpinned by a strong order backlog, primarily from the South Korean government, and the development of the high-resolution ‘SpaceEye-T’ satellite constellation, which aims to shift the business model towards recurring revenue from data and solution services.

This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

• This analysis of Sterling Infrastructure’s recent financial performance reviews various factors influencing its investment profile, highlighting its financial results, strategic activities, and dynamic market positioning.
• Sterling Infrastructure reported a strong third quarter, characterized by significant revenue growth across various segments, profitability improvements, and an expanding order backlog.
• The company’s revenue increased by 32% year-over-year, driven substantially by its E-Infrastructure Solutions segment, which grew by 58%.

• Reliable momentum from a resilient model – JES delivered steady organic growth in Q1–2 FY3/26 and remains on track to reach its 20% operating margin target (pre–goodwill amortization) on a sustainable basis, in our view.
• Maintenance contracts and modernization unit volumes continued to grow at double-digit YoY rates, underscoring ongoing organic customer acquisition.
• The company is investing in engineers, building sufficient capacity to drive maintenance contract growth. 

• Rising demand for commodities testing, supported by the soaring gold price, provided a strong first half for ALS Ltd, and it appears there’s more to come.
• -ALS Ltd first half beat expectations -Better than expected growth in minerals testing -Junior miners set to begin exploration, increasing demand -Guidance seen as conservative

• The company is executing an ambitious capital expenditure plan focused on integrating raw material sources and nearly doubling grinding capacity to 41.85 MTPA by CY28.
• JSW Cement reported robust Q2 FY26 results, delivering a 64.2% YoY surge in operating EBITDA to INR267.5 crore, underpinned by 14.9% volume growth, cost control, achieving an EBITDA/tonne of INR860.
• JSW Cement’s ‘green premium’ strategy and structural cost advantage position it for a potential re-rating.

Key points (machine generated)

• Caster, listed on the Tokyo Stock Exchange, reported revenue growth despite an operating loss for the fiscal year ending August 2025.
• The company specializes in connecting small and medium-sized enterprises with remote workers to address labor shortages and promote remote work.
• With over 5,800 users and 800 employees, Caster has developed a user-friendly platform and successfully implemented a full remote work model.

This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only.

• CXW has authorized an increase to the existing share repurchase plan to purchase up to an additional $200m in CXW shares.
• The aggregate authorization increased from up to $500m of its shares to up to $700m.
• With the added authorization, CXW had $377.9m of repurchase authorization available under the plan as of Nov.

• Eaton Corporation’s third-quarter 2025 earnings results reflect a mix of robust growth in its key segments, tempered by challenges in some shorter-cycle markets.
• The company reported organic growth of 7% overall, with strong performances in its Electrical Americas and Aerospace divisions.
• Notably, orders in the Electrical Americas segment soared, with a 7% increase on a rolling 12-month basis and a backlog growth of 20%.

• After PFISTERER was still affected by the relocation of the Wunsiedel site to Kadaň at the beginning of the year, it embarked on an impressive growth course from the second quarter of 2025 onwards.
• This continued in the third quarter of 2025 with a 25.5% increase in sales, bringing sales after nine months to €326.63 million, up 14.5% on the previous year’s figure of €285.16 million.
• In line with the significant increase in sales, PFISTERER shows noticeable improvements at all earnings levels.

• The combination of weaker-than- expected FY9/25 results, conservative near-term guidance, and maintaining medium-term objectives suggests that greater visibility will be needed before confidence in the earnings outlook can improve, in our view.
• Despite strong performance in the Sustainability segment, expectations for FY9/26 are for a modest YoY contraction before returning to growth.
• Although steady growth is expected in the Fine Chemicals and Life Science segments over the medium term, the company is likely to experience a moderation in growth before growth re-accelerates in FY9/27.

• Satrec Initiative is a key player in the South Korean space industry, specializing in Earth observation (EO) satellite systems and vertically integrated solutions, including ground systems, imagery services, and AI-based analytics.
• The strategic investment by Hanwha Aerospace, making it the largest shareholder, provides significant financial backing and synergies, positioning the company for growth in both domestic and international defense and commercial markets.
• Future growth is underpinned by a strong order backlog, primarily from the South Korean government, and the development of the high-resolution ‘SpaceEye-T’ satellite constellation, which aims to shift the business model towards recurring revenue from data and solution services.

This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

• This analysis of Sterling Infrastructure’s recent financial performance reviews various factors influencing its investment profile, highlighting its financial results, strategic activities, and dynamic market positioning.
• Sterling Infrastructure reported a strong third quarter, characterized by significant revenue growth across various segments, profitability improvements, and an expanding order backlog.
• The company’s revenue increased by 32% year-over-year, driven substantially by its E-Infrastructure Solutions segment, which grew by 58%.