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Smartkarma Daily Briefs

Oct 12
0

Daily Brief Thematic (Sector/Industry): Taiwan Semi Monthly Tracker Red Flags Double MoM In September 2024 and more

By | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

  • Taiwan Semi Monthly Tracker Red Flags Double MoM In September 2024
  • AUCTUS ON FRIDAY – 11/10/2024
  • GEMWeekly (11 Oct 2024): China NDRC Underwhelms; South Korea Macro; Tencent, Baidu, Samsung

Taiwan Semi Monthly Tracker Red Flags Double MoM In September 2024

By William Keating

  • Seven Taiwan semi companies from our list of sixteen are now showing negative YoY monthly growth as of September 2024, up from just three a month earlier
  • Companies with a strong exposure to the AI Acceleration market are on track for strong revenue growth YoY in 2024. ASPEED is on track to double revenues this year. 
  • For many of the remainder, what tepid growth they had been experiencing may be starting to stall. Watch this space. 

AUCTUS ON FRIDAY – 11/10/2024

By Auctus Advisors

  • GeoPark (GPRK US)C; Target price US$26 per share: Downtime and blockades continue to impact production.
  • All eyes on Argentina – 3Q24 production was 33,215 boe/d with production in Colombia still impacted by downtime and blockades (we expected 34.6 mboe/d).
  • Production at Llanos-34 continues to decline.

GEMWeekly (11 Oct 2024): China NDRC Underwhelms; South Korea Macro; Tencent, Baidu, Samsung

By Wium Malan, CFA

  • The Global Emerging Markets Weekly summarises the key news and related developments impacting the largest countries and constituents of the Global Emerging Markets equity indices.
  • Macro data points: China NDRC press briefing, South Korean interest rates
  • Companies mentioned:Tencent (700 HK), Baidu (9888 HK), Samsung Electronics (005930 KS)

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Oct 12
0

Daily Brief Event-Driven: Another Play to Consider: Spread Trading Korea Zinc Single-Stock Futures and more

By | Daily Briefs, Event-Driven

In today’s briefing:

  • Another Play to Consider: Spread Trading Korea Zinc Single-Stock Futures
  • Korea Zinc Raises Share Buyback and Tender Offer Price to 890,000 Won
  • Hillhouse To Buy Out Minorities In Samty Holdings (187A) – Small Premium, High Leverage, Hmmm
  • EQD | The HSI Rally: Go LONG Now or Wait?
  • Esseco/Ercros: Green Light from Government

Another Play to Consider: Spread Trading Korea Zinc Single-Stock Futures

By Sanghyun Park

  • Another play is spread trading Korea Zinc single-stock futures: go long on the front-month and short on the farther-out contract to profit from price convergence.
  • The key is when longer-dated futures’ volume will rise and if the basis difference with front-month futures will create arbitrage opportunities. November’s volume seems more for hedging than arbitrage.
  • MBK is likely to launch a second tender offer, potentially extending the spread trading timeline and giving us more chances to hit sweet spots.

Korea Zinc Raises Share Buyback and Tender Offer Price to 890,000 Won

By Douglas Kim

  • Korea Zinc raised the share buyback and tender offer price from 830,000 won to 890,000 won. Korea Zinc’s share price closed up by only 0.6% today to 794,000 won. 
  • As a result, the amount of capital involved in this share buyback and tender offer would increase from 2.7 trillion won to 3.2 trillion won.
  • Despite higher share buyback/tender offer of Korea Zinc by Choi family, we believe that this fight for the control of Korea Zinc is increasingly in favor of MBK/Jang family.

Hillhouse To Buy Out Minorities In Samty Holdings (187A) – Small Premium, High Leverage, Hmmm

By Travis Lundy

  • Today, Hillhouse announced it would buy the 63% of SAMTY HOLDINGS Co Ltd (187A JP) not owned by Daiwa Securities Group (8601 JP) at an 18% premium. 
  • It’s a highly-levered real estate company. Huge inventory. Decent margins on sale so embedded profit sitting in inventory. Not a very big premium, but an all-time high. 
  • Retail including some large former insiders and passive own the vast bulk of the float here. The former get this done. Or not. 

EQD | The HSI Rally: Go LONG Now or Wait?

By Nico Rosti

  • In our previous insight about the Hang Seng Index‘s we theorized a probable continuation of the rally in October, after some resistance, but the index just shoot up straight.
  • Resistance appeared last week, from an area considered a tail by our SHORT model, so it was not possible to make a forecast from there.
  • The question now is: can the index re-start to rally from here? Or will it pull back more this coming week?

Esseco/Ercros: Green Light from Government

By Jesus Rodriguez Aguilar

  • The Spanish government has approved Esseco’s bid for Ercros, after previously approving Bondalti’s offer in June, signaling a significant step in the ongoing takeover battle for the chemical company.
  • The next step lies with the CNMV, Spain’s stock market regulator, which must first approve Bondalti’s bid before considering Esseco’s. However, both bids have opposition from shareholders holding 27%.
  • Ercros is trading in line with comparables, but there’s potential for bidders to improve their offers, which is likely. Gross spread to Esseco’s offer is 2%. Reiterate long.

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Oct 12
0

Daily Brief Credit: Weekly Wrap – 11 Oct 2024 and more

By | Credit, Daily Briefs

In today’s briefing:

  • Weekly Wrap – 11 Oct 2024
  • Morning Views Asia: China Oil And Gas, Continuum Green Energy, China International Marine Containers A

Weekly Wrap – 11 Oct 2024

By Felix Fischer

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.

In this Insight:

  1. China Oil And Gas
  2. ICTSI
  3. Pt Cikarang Listrindo Tbk
  4. Tata Motors Ltd
  5. Adani Green Energy

and more…

Morning Views Asia: China Oil And Gas, Continuum Green Energy, China International Marine Containers A

By Leonard Law, CFA

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.

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Oct 12
0

Daily Brief Equity Bottom-Up: Shift Inc (3697 JP): Full-year FY08/24 flash update and more

By | Daily Briefs, Equity Bottom-Up

In today’s briefing:

  • Shift Inc (3697 JP): Full-year FY08/24 flash update
  • Taiwan Tech Weekly: TSMC Taking More Samsung Customers; Hon Hai Unveils Major AI Projects
  • Japanese Midcap Banks – Three Key Picks
  • Tech News This Week. TSMC and Samsung
  • Mattr Corp: How to Transform an Industrial Business Through Rational Capital Allocation
  • Tesla: The Disney World for grown-ups
  • Hisamitsu Pharmaceutical (4530 JP): H1FY25 Witness Strong Growth; FY25 Guidance Reiterated
  • 3Q24 PC Shipments Are Flat YoY. Lenovo, Acer, Asus. Compal, Quanta, Wistron.
  • BRBR US: Expansion Of Product Formats & Revitalized Marketing Campaigns Catapulting Growth!
  • BFAM US: These Are The 4 Biggest Factors Impacting Its Performance In 2025 & Beyond!

Shift Inc (3697 JP): Full-year FY08/24 flash update

By Shared Research

  • In FY08/24, the company reported sales of JPY110.6bn (+25.7% YoY) and operating profit of JPY10.5bn (-8.9% YoY).
  • Software Testing Related Services segment sales reached JPY71.3bn (+22.4% YoY), with operating profit of JPY16.2bn (+11.4% YoY).
  • For FY08/25, the company forecasts sales of JPY130.0bn (+17.5% YoY) and operating profit of JPY13.5bn (+28.1% YoY).

Taiwan Tech Weekly: TSMC Taking More Samsung Customers; Hon Hai Unveils Major AI Projects

By Vincent Fernando, CFA

  • Samsung’s foundry business is losing more customers to TSMC, who is perceived as lower risk.
  • TSMC, UMC Monthly Sales: TSMC up strong but plateauing, UMC lackluster, confirming 2 big trends.
  • Memory Monitor: Nanya results miss; highlights weakness in non-AI demand.

Japanese Midcap Banks – Three Key Picks

By Victor Galliano

  • We analyse ten Japanese midcap banks to target beneficiaries of the realization of strategic shareholdings, as well as beneficiaries of the improving interest rate outlook
  • We add Hachijuni Bank and Hokuhoku Financial to the buy list, based on the potential for realization of strategic holdings; these share-holdings are large relative to their respective market capitalizations
  • We maintain Gunma Bank on the buy list, primarily for its very strong gearing into the rising interest cycle and its attractive PE multiples

Tech News This Week. TSMC and Samsung

By Nicolas Baratte

  • Is Intel giving up on AI Accelerator (Gaudi)? Cutting orders first, refocusing on x86. 
  • TSMC CoWoS capacity, sharp wafer price increase, agreement with Amkor.
  • DRAM price outlook is not that bad, after a 2H24 slowdown. Samsung 2nm and 1.4nm, planning ahead despite poor yield rates.

Mattr Corp: How to Transform an Industrial Business Through Rational Capital Allocation

By Contrarian Cashflows

  • In my latest portfolio update, I discussed the potential of investing in cyclical businesses and how shifts in a company’s business model or balance sheet can often go unnoticed by the market, creating compelling investment opportunities.
  • Today, I present Mattr Corp, a company that not only revamped its business model and balance sheet without receiving due recognition but also strategically repositioned itself within new end markets. This transformation aligns perfectly with all three of my key criteria for identifying attractive investments in cyclical stocks.
  • Mattr Corp., a Canadian industrial conglomerate, is undergoing a strategic transformation into an advanced engineering company by leveraging its extensive expertise and decades of experience in materials science for industrial applications.

Tesla: The Disney World for grown-ups

By Fallacy Alarm

  • Elon has given up on his ambitious targets. Or he has never seriously pursued them.

  • Tesla’s investor event “We, Robot” was nothing more than a theme park for adults who were there to indulge into an illusion for a night.

  • Why would they conduct such a ridiculous event that suggests that they have nothing up their sleeves that can create tens of billions of dollars of AI revenue soon? 

Hisamitsu Pharmaceutical (4530 JP): H1FY25 Witness Strong Growth; FY25 Guidance Reiterated

By Tina Banerjee

  • Hisamitsu Pharmaceutical Co (4530 JP) has reported double-digit revenue growth in H1FY25, mainly driven by 17% YoY growth in OTC pharmaceutical product, Salonpas. Net profit grew 8%.
  • Rx business revenues grew 5% as Zicthoru, Apohide etc clocked healthy numbers, while Mohrus product line continues to decline. Since Q1FY24, Zicthoru’s quarterly revenue run-rate has been surpassing ¥1B.
  • Hisamitsu has reiterated its FY25 guidance of ¥152B revenue, operating profit of ¥14.5B, and net profit of ¥15.8B. With H1FY25 progress rate, the company is expected to beat the guidance.

3Q24 PC Shipments Are Flat YoY. Lenovo, Acer, Asus. Compal, Quanta, Wistron.

By Nicolas Baratte

  • IDC reported 3Q24 PC shipments declining -2% YoY, Canalys an increase of +1%. Let’s call this flat. If 4Q24 is “average seasonal”, 2024 will reach ~265m, or the pre-Covid range. 
  • No AI fever, no accelerated replacement cycle, for now. If it happens, it will take time, ie compelling AI apps that only run locally and need a new PC.
  • In Asia, PC vendors: Lenovo, Acer, Asus. Taiwan ODM: Compal, Quanta, Wistron. Semi with high exposure: Novatek, Realtek. 

BRBR US: Expansion Of Product Formats & Revitalized Marketing Campaigns Catapulting Growth!

By Baptista Research

  • BellRing Brands recently reported its earnings for the third quarter of the fiscal year 2024.
  • The company, which is known for its Premier Protein and Dymatize brands, showcased a mixture of strengths and areas poised for improvement.
  • BellRing Brands has demonstrated robust growth, showing a notable increase in net sales and adjusted EBITDA, indicative of effective operational management and solid demand for its products.

BFAM US: These Are The 4 Biggest Factors Impacting Its Performance In 2025 & Beyond!

By Baptista Research

  • Bright Horizons Family Solutions, a renowned provider of child care, early education, and work-life servcies, recently reported a robust performance for the second quarter of 2024 in their latest earnings call.
  • CEO, Stephen Kramer, highlighted substantial revenue growth in full service and back-up care segments and a nearly 40% increase in adjusted EPS, surpassing the company’s expectations due to improved operational efficiency across all three segments.
  • In light of these results, the company has raised its full-year guidance for both revenue and EPS.

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Oct 12
0

Daily Brief Crypto: Crypto Moves #47 – Maker and more

By | Crypto, Daily Briefs

In today’s briefing:

  • Crypto Moves #47 – Maker, or now, Sky, Sacrifices Profit for Growth

Crypto Moves #47 – Maker, or now, Sky, Sacrifices Profit for Growth

By Mads Eberhardt

  • On August 27, the decentralized autonomous organization (DAO) Maker, known for managing the world’s largest partially decentralized stablecoin, Dai, announced that it would rebrand to Sky on September 18.
  • Starting on that date, Dai stablecoin holders gained the ability to convert their Dai 1-to-1 into Sky Dollar (USDS), the new stablecoin of the Sky ecosystem.
  • This shift is part of Maker’s “Endgame” roadmap—a vision that co-founder Rune Christensen has been developing for years.

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Oct 12
0

Daily Brief Macro: China Economics: Is Beijing Finally Abandoning Policy Inaction? and more

By | Daily Briefs, Macro

In today’s briefing:

  • China Economics: Is Beijing Finally Abandoning Policy Inaction?
  • Rubber’s Dual Dilemma – Supply Pressure Amid Limited Demand
  • Walker’s Weekly: Dr. Jim’s Summary of Key Global Macro Developments – 11 Oct 2024
  • Heard From Fortress Hill: Weekly Market Observations (11 Oct 2024)
  • HEW: October’s Wave of Easing
  • CX Daily: Why Making Green Hydrogen Is Keeping Producers in the Red
  • Korea: 25bp Rate Cut To 3.25% (consensus 3.25%) in Oct-24

China Economics: Is Beijing Finally Abandoning Policy Inaction?

By Manu Bhaskaran

  • Beijing’s latest policy announcements show that it is no longer content with a managed slowdown. They are now committed to more energetic policy support for the economy. 
  • Given the slowdown’s entrenched roots, partly due to Beijing’s prior reluctance, we do not think that the current package alone will turn things around. 
  • But with Beijing taking the cyclical slump more seriously, further support measures are likely, which, cumulatively, may be sufficient to stabilize short-term economic conditions. 

Rubber’s Dual Dilemma – Supply Pressure Amid Limited Demand

By Arusha Das

  • Delay in EUDR to lead to renegotiation of premium
  • Talks of removal of Ivorian cup lump ban

Walker’s Weekly: Dr. Jim’s Summary of Key Global Macro Developments – 11 Oct 2024

By Dr. Jim Walker

  • China’s economic policy remains focused on investment, with low expectations for a significant stimulus from the Ministry of Finance.
  • International reserves are generally increasing across Asia, supporting currency appreciation, except for Indonesia.
  • Japan’s recent data shows rising cash earnings but declining real wages and household spending, highlighting concerns in the real economy.

Heard From Fortress Hill: Weekly Market Observations (11 Oct 2024)

By Alex Ng

  • We were right on the sideway walk eventually of HSI but far underestimate its volatility.
  • US S&P is comparably more boring, edging north merely by 0.74% for the week
  • Gold retreated a bit in the previous week but is instill a marvelous medium-term choice given the Fed rate cut cycle.

HEW: October’s Wave of Easing

By Phil Rush

  • US inflation has surpassed expectations, along with strong payroll releases, despite a dovish bias. The Reserve Bank of New Zealand has followed the Federal Reserve’s 50bp, Korea has begun cutting rates, and Peru has unexpectedly maintained its rates. Early-easers are reconsidering their strategies.
  • The European Central Bank is expected to cut rates next week due to a dis-inflated outlook and disappointing demand. This expectation is shared by the market and consensus, although it is not a certainty.
  • UK inflation data is predicted to slow, while the labour market continues to remain tight.

CX Daily: Why Making Green Hydrogen Is Keeping Producers in the Red

By Caixin Global

  • Green hydrogen / In Depth: Why making green hydrogen is keeping producers in the red
  • Swap /: Three things to know about PBOC’s new swap facility to boost stocks
  • Monetary /: PBOC and Finance Ministry join forces to add bond trading to monetary policy toolbox

Korea: 25bp Rate Cut To 3.25% (consensus 3.25%) in Oct-24

By Heteronomics AI

  • The Bank of Korea cut its base rate by 25bp to 3.25%, in line with the consensus, citing stabilised inflation and a slowdown in household debt growth.
  • Future rate decisions will depend on the domestic demand recovery, which remains sluggish, alongside heightened global economic risks such as geopolitical tensions and volatility in foreign exchange markets.
  • The central bank will continue to weigh the trade-offs between growth and financial stability, with particular attention to household debt and housing market dynamics amid potential further rate cuts.
This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

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Oct 12
0

Daily Brief Australia: Rio Tinto Ltd and more

By | Australia, Daily Briefs

In today’s briefing:

  • What does Rio’s brine bet mean for spod?

What does Rio’s brine bet mean for spod?

By Money of Mine

  • Rio Tinto recommended a price of $5.85 on the US stock and $8.60 on the CDIs, totaling about AU$10 billion or US$6.7 billion, with a 90% premium to the undisturbed price
  • The deal is all cash and is expected to close in mid-2025, pending various approvals including shareholder and board approval
  • Rio Tinto’s acquisition of Arcadium is seen as a countercyclical move, paying for optionality and long-term potential rather than immediate returns, reflecting a shift in their M&A strategy.

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

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Oct 12
0

Daily Brief South Korea: Korea Zinc and more

By | Daily Briefs, South Korea

In today’s briefing:

  • Another Play to Consider: Spread Trading Korea Zinc Single-Stock Futures
  • Korea Zinc Raises Share Buyback and Tender Offer Price to 890,000 Won

Another Play to Consider: Spread Trading Korea Zinc Single-Stock Futures

By Sanghyun Park

  • Another play is spread trading Korea Zinc single-stock futures: go long on the front-month and short on the farther-out contract to profit from price convergence.
  • The key is when longer-dated futures’ volume will rise and if the basis difference with front-month futures will create arbitrage opportunities. November’s volume seems more for hedging than arbitrage.
  • MBK is likely to launch a second tender offer, potentially extending the spread trading timeline and giving us more chances to hit sweet spots.

Korea Zinc Raises Share Buyback and Tender Offer Price to 890,000 Won

By Douglas Kim

  • Korea Zinc raised the share buyback and tender offer price from 830,000 won to 890,000 won. Korea Zinc’s share price closed up by only 0.6% today to 794,000 won. 
  • As a result, the amount of capital involved in this share buyback and tender offer would increase from 2.7 trillion won to 3.2 trillion won.
  • Despite higher share buyback/tender offer of Korea Zinc by Choi family, we believe that this fight for the control of Korea Zinc is increasingly in favor of MBK/Jang family.

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Oct 12
0

Daily Brief Singapore: SGX Rubber Future TSR20 and more

By | Daily Briefs, Singapore

In today’s briefing:

  • Rubber’s Dual Dilemma – Supply Pressure Amid Limited Demand

Rubber’s Dual Dilemma – Supply Pressure Amid Limited Demand

By Arusha Das

  • Delay in EUDR to lead to renegotiation of premium
  • Talks of removal of Ivorian cup lump ban

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Oct 12
0

Daily Brief United States: Tesla , Ethereum, BellRing Brands , Bright Horizons Family Solutions, Boston Beer Company Inc A, Axalta Coating Systems, Elanco Animal Health , Dentsply International, Century Communities, Bassett Furniture Inds and more

By | Daily Briefs, United States

In today’s briefing:

  • Tesla: The Disney World for grown-ups
  • Crypto Moves #47 – Maker, or now, Sky, Sacrifices Profit for Growth
  • BRBR US: Expansion Of Product Formats & Revitalized Marketing Campaigns Catapulting Growth!
  • BFAM US: These Are The 4 Biggest Factors Impacting Its Performance In 2025 & Beyond!
  • The Boston Beer Company Inc.: An Analysis Of Their Competitive Positioning & Major Growth Drivers! – Financial Forecasts
  • Axalta Coating Systems Ltd.: Expansion into New Markets & 4 Other Factors Driving Growth! – Financial Forecasts
  • Elanco Animal Health: Leveraging Portfolio Synergy & Market Access To Catalyze Growth! – Major Drivers
  • DENTSPLY SIRONA Inc.: An Insight Into Dental Industry Trends & Transformation Initiatives! – Major Drivers
  • Century Communities Inc.: Focus on Affordable Housing through Century Complete & Other Major Drivers
  • Bassett Furniture Industries, Inc. – 3QFY24 Adjusted EPS Of ($0.41) As Conditions Remain Tough

Tesla: The Disney World for grown-ups

By Fallacy Alarm

  • Elon has given up on his ambitious targets. Or he has never seriously pursued them.

  • Tesla’s investor event “We, Robot” was nothing more than a theme park for adults who were there to indulge into an illusion for a night.

  • Why would they conduct such a ridiculous event that suggests that they have nothing up their sleeves that can create tens of billions of dollars of AI revenue soon? 

Crypto Moves #47 – Maker, or now, Sky, Sacrifices Profit for Growth

By Mads Eberhardt

  • On August 27, the decentralized autonomous organization (DAO) Maker, known for managing the world’s largest partially decentralized stablecoin, Dai, announced that it would rebrand to Sky on September 18.
  • Starting on that date, Dai stablecoin holders gained the ability to convert their Dai 1-to-1 into Sky Dollar (USDS), the new stablecoin of the Sky ecosystem.
  • This shift is part of Maker’s “Endgame” roadmap—a vision that co-founder Rune Christensen has been developing for years.

BRBR US: Expansion Of Product Formats & Revitalized Marketing Campaigns Catapulting Growth!

By Baptista Research

  • BellRing Brands recently reported its earnings for the third quarter of the fiscal year 2024.
  • The company, which is known for its Premier Protein and Dymatize brands, showcased a mixture of strengths and areas poised for improvement.
  • BellRing Brands has demonstrated robust growth, showing a notable increase in net sales and adjusted EBITDA, indicative of effective operational management and solid demand for its products.

BFAM US: These Are The 4 Biggest Factors Impacting Its Performance In 2025 & Beyond!

By Baptista Research

  • Bright Horizons Family Solutions, a renowned provider of child care, early education, and work-life servcies, recently reported a robust performance for the second quarter of 2024 in their latest earnings call.
  • CEO, Stephen Kramer, highlighted substantial revenue growth in full service and back-up care segments and a nearly 40% increase in adjusted EPS, surpassing the company’s expectations due to improved operational efficiency across all three segments.
  • In light of these results, the company has raised its full-year guidance for both revenue and EPS.

The Boston Beer Company Inc.: An Analysis Of Their Competitive Positioning & Major Growth Drivers! – Financial Forecasts

By Baptista Research

  • Boston Beer Company’s second-quarter 2024 earnings reflected a mixed performance amid shifting market dynamics and consumer preferences.
  • The company, widely recognized for its innovative approach and diversified portfolio, reported a 4% decline in depletions and a 6.4% decrease in shipments compared to the previous year.
  • This was primarily attributed to declines in the Truly Hard Seltzers segment, which could not be wholly offset by growth in Twisted Tea and Sun Cruiser brands.

Axalta Coating Systems Ltd.: Expansion into New Markets & 4 Other Factors Driving Growth! – Financial Forecasts

By Baptista Research

  • Axalta Coating Systems recently disclosed its financial performance for the second quarter of 2024, showcasing record-breaking results in the face of challenging market conditions.
  • The company reported a 4% rise in net sales, reaching $1.35 billion, with a significant boost in volumes across all end markets.
  • Additionally, adjusted EBITDA increased notably by $64 million year-over-year to $291 million, reflecting a 400 basis-point improvement in margins to 21.5%.

Elanco Animal Health: Leveraging Portfolio Synergy & Market Access To Catalyze Growth! – Major Drivers

By Baptista Research

  • Elanco Animal Health Incorporated showed promising performance in its second quarter of 2024, demonstrating consistent operational results and strategic progress in various key areas.
  • With a fourth consecutive quarter of underlying revenue growth, the company has displayed resilience and growth in its core segments.
  • The adjusted EBITDA and adjusted EPS metrics surpassed the estimates by achieving higher figures than projected in previous guidance, indicating efficient operational and cost management.

DENTSPLY SIRONA Inc.: An Insight Into Dental Industry Trends & Transformation Initiatives! – Major Drivers

By Baptista Research

  • DENTSPLY SIRONA Inc., a major player in the dental solutions and technologies market, reported a mixed second quarter performance for the fiscal year 2024.
  • The company faced notable challenges, including a decline in revenue to $984 million, primarily impacted by lower sales in its Connected Technology Solutions (CTS) segment.
  • This was attributed to ongoing pressures in the capital equipment market, partially influenced by macroeconomic conditions, pricing degradation, and suboptimal performance in key markets.

Century Communities Inc.: Focus on Affordable Housing through Century Complete & Other Major Drivers

By Baptista Research

  • Century Communities reported a strong performance for the second quarter of 2024, showcasing significant improvements in key financial metrics and operational achievements that underline the company’s robust position in the homebuilding industry.
  • The company delivered 2,617 homes, marking a 17% increase year-over year and an 11% sequential increase.
  • Home sales revenues also saw a notable rise, reaching $1 billion, a 24% increase year-over-year and a 10% increase sequentially.

Bassett Furniture Industries, Inc. – 3QFY24 Adjusted EPS Of ($0.41) As Conditions Remain Tough

By Water Tower Research

  • BSET posted an adjusted EPS loss of ($0.41) for 3QFY24, down $0.11 from the prior year and $0.08 below our estimate of ($0.33).
  • While the quarter was affected by continued challenging industry conditions, including the weak housing market (housing is a traditional driver of residential furniture sales) and wary consumers (many of whom updated their homes during COVID), the earnings miss was also, in part, a consequence of a July hack of Bassett’s IT systems that forced the firm to sideline production for a week, costing the firm $1-2 million on the bottom line from lost sales and associated manufacturing inefficiencies.
  • We estimate that this production shutdown cost Bassett $0.085 to $0.17 in EPS.

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