Category

Industrials

Aug 16
0

Daily Brief Industrials: Aalberts Industries Nv, Careerlink, Dai Ichi Cutter Kogyo Kk and more

By | Daily Briefs, Industrials

In today’s briefing:

  • What’s New(s) in Amsterdam – 15 August (Aalberts / GVT | Triodos Bank)
  • Careerlink (6070 JP): Q1 FY03/26 flash update
  • Dai Ichi Cutter Kogyo Kk (1716 JP): Full-year FY06/25 flash update

What’s New(s) in Amsterdam – 15 August (Aalberts / GVT | Triodos Bank)

By The IDEA!

  • In this edition: • Aalberts | Grand Venture Technology records modest EBITDA growth in relation to revenue growth • Triodos Bank | making progress in managing its risks; a lot more work ahead though

Careerlink (6070 JP): Q1 FY03/26 flash update

By Shared Research

  • Revenue increased in BPO-related business due to expanded client base and new projects, despite declining large projects.
  • Operating profit rose by 17.0% YoY, driven by improved efficiency and reduced recruitment costs amid increased personnel expenses.
  • Revenue declined in several segments, but new orders and client expansion efforts contributed to steady growth in others.

Dai Ichi Cutter Kogyo Kk (1716 JP): Full-year FY06/25 flash update

By Shared Research

  • Full-year FY06/25 revenue declined 3.3% YoY due to decreased construction volume and exclusion of a subsidiary.
  • FY06/26 forecast: Revenue JPY20.5bn (+1.3% YoY), Operating profit JPY1.8bn (+9.3% YoY), Net income JPY1.3bn (-2.8% YoY).
  • Dai-Ichi Cutter’s profit projections are conservative; profitability depends on project difficulty, scale, and demand response investment.

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Aug 16
0

Daily Brief Industrials: Aalberts Industries Nv, Careerlink, Dai Ichi Cutter Kogyo Kk and more

By | Daily Briefs, Industrials

In today’s briefing:

  • What’s New(s) in Amsterdam – 15 August (Aalberts / GVT | Triodos Bank)
  • Careerlink (6070 JP): Q1 FY03/26 flash update
  • Dai Ichi Cutter Kogyo Kk (1716 JP): Full-year FY06/25 flash update

What’s New(s) in Amsterdam – 15 August (Aalberts / GVT | Triodos Bank)

By The IDEA!

  • In this edition: • Aalberts | Grand Venture Technology records modest EBITDA growth in relation to revenue growth • Triodos Bank | making progress in managing its risks; a lot more work ahead though

Careerlink (6070 JP): Q1 FY03/26 flash update

By Shared Research

  • Revenue increased in BPO-related business due to expanded client base and new projects, despite declining large projects.
  • Operating profit rose by 17.0% YoY, driven by improved efficiency and reduced recruitment costs amid increased personnel expenses.
  • Revenue declined in several segments, but new orders and client expansion efforts contributed to steady growth in others.

Dai Ichi Cutter Kogyo Kk (1716 JP): Full-year FY06/25 flash update

By Shared Research

  • Full-year FY06/25 revenue declined 3.3% YoY due to decreased construction volume and exclusion of a subsidiary.
  • FY06/26 forecast: Revenue JPY20.5bn (+1.3% YoY), Operating profit JPY1.8bn (+9.3% YoY), Net income JPY1.3bn (-2.8% YoY).
  • Dai-Ichi Cutter’s profit projections are conservative; profitability depends on project difficulty, scale, and demand response investment.

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Sign Up for Free

The Smartkarma Preview Pass is your entry to the Independent Investment Research Network

  • ✓ Unlimited Research Summaries
  • ✓ Personalised Alerts
  • ✓ Custom Watchlists
  • ✓ Company Data and News
  • ✓ Events & Webinars
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Aug 15
0

Daily Brief Industrials: Keppel Corp, HMM Co., Ltd., King Slide Works, CFF Fluid Control, JSW Cement Limited, PG Electroplast, Wesco International, Agco Corp, Ww Grainger Inc and more

By | Daily Briefs, Industrials

In today’s briefing:

  • Value Unlock SG: Value Creation Via Corporate Action. May the Wind Carry Many More Sails
  • HMM KRW 2T Tender: Full Pro-Rata Risk Assessment
  • Taiwan Top 50 ETF Rebalance Preview: Another Inclusion for King Slide
  • HMM: Tender Offer of 8% of Outstanding Shares and Cancellation
  • Business Breakdown: CFF Fluid Control – In the Middle of India’s Naval Indigenization Drive
  • JSW Cement IPO Trading – Overall Demand Lags Recent Listings
  • PG Electroplast: Guidance Cut Tempers Near-Term Outlook, Valuation Back in Check?
  • WESCO Accelerates Momentum Across UBS, EES, & AI-Driven Data Centers; What Lies Ahead?
  • AGCO Corporation: Precision Agriculture, Technological Advancements & Other Major Drivers!
  • W.W. Grainger’s Zoro Growth Engine – Can It Defy Market Challenges?

Value Unlock SG: Value Creation Via Corporate Action. May the Wind Carry Many More Sails

By Devi Subhakesan

  • A wave of corporate actions by SGX-listed companies has unlocked substantial shareholder value and re-rated select stocks in recent months. In this note, we spotlight five standout cases.
  • Our top picks with the strongest catalysts for further upside after delivering significant shareholder returns over the past year are – Keppel Corp (KEP SP) and Yangzijiang Financial (YZJFH SP). 
  • The outsized value creation delivered by these companies should serve as a wake-up call for other managements to follow suit and initiate actions to boost returns and unlock shareholder value.

HMM KRW 2T Tender: Full Pro-Rata Risk Assessment

By Sanghyun Park

  • Watch next Monday’s premium and the share slice we can grab—these will drive hedge sizing with futures or other plays.
  • Premium sits in the late 10% range, above expectations; HMM’s float is tight, with 80%+ effectively locked by KDB, KOBC, NPS, and passive holders.
  • The tender pool is capped at ~15% of shares; with KDB taking 3–3.5%, about 4.5–5% remains available for the market.

Taiwan Top 50 ETF Rebalance Preview: Another Inclusion for King Slide

By Brian Freitas

  • There could be 2 changes for the Yuanta/P-Shares Taiwan Top 50 ETF in September – one is high probability and the other is right at the cusp.
  • King Slide Works (2059 TT) is being added to a global index this month, so the ETF inclusion will come hot on the heels of that.
  • The impact on the stocks is pretty big with passive trackers needing to buy between 1.3-5.5x ADV in the adds and sell between 3.4-6.4x ADV in the deletes.

HMM: Tender Offer of 8% of Outstanding Shares and Cancellation

By Douglas Kim

  • After the market close on 14 August, HMM Co., Ltd. (011200 KS) announced a tender offer of 81.8 million treasury shares (8% of outstanding shares).
  • An even bigger factor on HMM’s share price than this tender offer could be the continued decline in the global shipping rates which is negative on the company. 
  • Overall, we would be cautious on HMM over the next one year. HMM also reported worse than expected operating profit in 2Q 2025 due to weaker global shipping rates.

Business Breakdown: CFF Fluid Control – In the Middle of India’s Naval Indigenization Drive

By Nimish Maheshwari

  • CFF Fluid Control enters FY25 with a INR 500+ crore order book and expanded manufacturing capacity at Khopoli and upcoming Chakan facility.
  • Strategic partnerships, high entry barriers, and preferred supplier status strengthen revenue visibility amid India’s naval indigenization push.
  • Robust growth prospects and contract pipeline outweigh concentration risks, reinforcing a positive long-term outlook.

JSW Cement IPO Trading – Overall Demand Lags Recent Listings

By Akshat Shah

  • JSW Cement Limited (9858514Z IN) raised about US$410m in its India IPO.
  • JSW Cement (JSWC) is a cement manufacturing company in India focused on manufacturing green cementitious products comprising blended cement, ordinary portland cement, ground granulated blast furnace slag, among other products.
  • We have looked at the company’s past performance and valuations in our previous notes. In this note, we will talk about the trading dynamics.

PG Electroplast: Guidance Cut Tempers Near-Term Outlook, Valuation Back in Check?

By Sudarshan Bhandari

  • PGEL cut FY26 guidance sharply, triggering ~30% share price fall. Valuations now near long-term medians, with EV/EBITDA at 26.8x and P/E at 54x.
  • Near-Term growth headwinds emerge, but Indian RAC market’s 18% CAGR outlook remains intact, supported by low penetration, rising incomes, and PLI-led domestic manufacturing push.
  • Correction offers fair-value entry. Long-term thesis intact with PGEL’s EMS leadership, backward integration, and exposure to fast-growing consumer durable categories.

WESCO Accelerates Momentum Across UBS, EES, & AI-Driven Data Centers; What Lies Ahead?

By Baptista Research

  • WESCO International, Inc. delivered a mixed financial performance for the second quarter of 2025, indicating both challenges and significant growth opportunities.
  • Positives were apparent in the company’s organic sales growth, which was reported at 7% year-over-year, highlighted by a 17% increase in Communications & Security Solutions (CSS) and a 6% increase in Electrical & Electronic Solutions (EES).
  • The company also reached a milestone as its data center sales surpassed $1 billion, reflecting a 65% growth compared to the previous year.

AGCO Corporation: Precision Agriculture, Technological Advancements & Other Major Drivers!

By Baptista Research

  • AGCO Corporation reported its second quarter 2025 financial results under challenging conditions in the agricultural sector.
  • The company’s net sales fell to $2.6 billion, representing a 19% decline from the previous year or 11% when adjusted for the divestiture of its Grain & Protein business.
  • This reduction reflects persisting softness in key regions, including North America and Western Europe, compounded by reduced dealer inventory levels.

W.W. Grainger’s Zoro Growth Engine – Can It Defy Market Challenges?

By Baptista Research

  • W.W. Grainger’s second-quarter financial performance in 2025 depicted a mixed yet stable operational stance amidst ongoing market uncertainties.
  • The company reported sales of nearly $4.6 billion, up 5.6% year-over-year, or 5.1% on a constant currency basis, which suggests a steady demand in its broad industrial customer base despite macroeconomic uncertainties.
  • Operating margins were recorded at 14.9%, with diluted EPS increasing by $0.21 to $9.97.

💡 Before it’s here, it’s on Smartkarma

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The Smartkarma Preview Pass is your entry to the Independent Investment Research Network

  • ✓ Unlimited Research Summaries
  • ✓ Personalised Alerts
  • ✓ Custom Watchlists
  • ✓ Company Data and News
  • ✓ Events & Webinars
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Aug 15
0

Daily Brief Industrials: Keppel Corp, HMM Co., Ltd., King Slide Works, CFF Fluid Control, JSW Cement Limited, PG Electroplast, Wesco International, Agco Corp, Ww Grainger Inc and more

By | Daily Briefs, Industrials

In today’s briefing:

  • Value Unlock SG: Value Creation Via Corporate Action. May the Wind Carry Many More Sails
  • HMM KRW 2T Tender: Full Pro-Rata Risk Assessment
  • Taiwan Top 50 ETF Rebalance Preview: Another Inclusion for King Slide
  • HMM: Tender Offer of 8% of Outstanding Shares and Cancellation
  • Business Breakdown: CFF Fluid Control – In the Middle of India’s Naval Indigenization Drive
  • JSW Cement IPO Trading – Overall Demand Lags Recent Listings
  • PG Electroplast: Guidance Cut Tempers Near-Term Outlook, Valuation Back in Check?
  • WESCO Accelerates Momentum Across UBS, EES, & AI-Driven Data Centers; What Lies Ahead?
  • AGCO Corporation: Precision Agriculture, Technological Advancements & Other Major Drivers!
  • W.W. Grainger’s Zoro Growth Engine – Can It Defy Market Challenges?

Value Unlock SG: Value Creation Via Corporate Action. May the Wind Carry Many More Sails

By Devi Subhakesan

  • A wave of corporate actions by SGX-listed companies has unlocked substantial shareholder value and re-rated select stocks in recent months. In this note, we spotlight five standout cases.
  • Our top picks with the strongest catalysts for further upside after delivering significant shareholder returns over the past year are – Keppel Corp (KEP SP) and Yangzijiang Financial (YZJFH SP). 
  • The outsized value creation delivered by these companies should serve as a wake-up call for other managements to follow suit and initiate actions to boost returns and unlock shareholder value.

HMM KRW 2T Tender: Full Pro-Rata Risk Assessment

By Sanghyun Park

  • Watch next Monday’s premium and the share slice we can grab—these will drive hedge sizing with futures or other plays.
  • Premium sits in the late 10% range, above expectations; HMM’s float is tight, with 80%+ effectively locked by KDB, KOBC, NPS, and passive holders.
  • The tender pool is capped at ~15% of shares; with KDB taking 3–3.5%, about 4.5–5% remains available for the market.

Taiwan Top 50 ETF Rebalance Preview: Another Inclusion for King Slide

By Brian Freitas

  • There could be 2 changes for the Yuanta/P-Shares Taiwan Top 50 ETF in September – one is high probability and the other is right at the cusp.
  • King Slide Works (2059 TT) is being added to a global index this month, so the ETF inclusion will come hot on the heels of that.
  • The impact on the stocks is pretty big with passive trackers needing to buy between 1.3-5.5x ADV in the adds and sell between 3.4-6.4x ADV in the deletes.

HMM: Tender Offer of 8% of Outstanding Shares and Cancellation

By Douglas Kim

  • After the market close on 14 August, HMM Co., Ltd. (011200 KS) announced a tender offer of 81.8 million treasury shares (8% of outstanding shares).
  • An even bigger factor on HMM’s share price than this tender offer could be the continued decline in the global shipping rates which is negative on the company. 
  • Overall, we would be cautious on HMM over the next one year. HMM also reported worse than expected operating profit in 2Q 2025 due to weaker global shipping rates.

Business Breakdown: CFF Fluid Control – In the Middle of India’s Naval Indigenization Drive

By Nimish Maheshwari

  • CFF Fluid Control enters FY25 with a INR 500+ crore order book and expanded manufacturing capacity at Khopoli and upcoming Chakan facility.
  • Strategic partnerships, high entry barriers, and preferred supplier status strengthen revenue visibility amid India’s naval indigenization push.
  • Robust growth prospects and contract pipeline outweigh concentration risks, reinforcing a positive long-term outlook.

JSW Cement IPO Trading – Overall Demand Lags Recent Listings

By Akshat Shah

  • JSW Cement Limited (9858514Z IN) raised about US$410m in its India IPO.
  • JSW Cement (JSWC) is a cement manufacturing company in India focused on manufacturing green cementitious products comprising blended cement, ordinary portland cement, ground granulated blast furnace slag, among other products.
  • We have looked at the company’s past performance and valuations in our previous notes. In this note, we will talk about the trading dynamics.

PG Electroplast: Guidance Cut Tempers Near-Term Outlook, Valuation Back in Check?

By Sudarshan Bhandari

  • PGEL cut FY26 guidance sharply, triggering ~30% share price fall. Valuations now near long-term medians, with EV/EBITDA at 26.8x and P/E at 54x.
  • Near-Term growth headwinds emerge, but Indian RAC market’s 18% CAGR outlook remains intact, supported by low penetration, rising incomes, and PLI-led domestic manufacturing push.
  • Correction offers fair-value entry. Long-term thesis intact with PGEL’s EMS leadership, backward integration, and exposure to fast-growing consumer durable categories.

WESCO Accelerates Momentum Across UBS, EES, & AI-Driven Data Centers; What Lies Ahead?

By Baptista Research

  • WESCO International, Inc. delivered a mixed financial performance for the second quarter of 2025, indicating both challenges and significant growth opportunities.
  • Positives were apparent in the company’s organic sales growth, which was reported at 7% year-over-year, highlighted by a 17% increase in Communications & Security Solutions (CSS) and a 6% increase in Electrical & Electronic Solutions (EES).
  • The company also reached a milestone as its data center sales surpassed $1 billion, reflecting a 65% growth compared to the previous year.

AGCO Corporation: Precision Agriculture, Technological Advancements & Other Major Drivers!

By Baptista Research

  • AGCO Corporation reported its second quarter 2025 financial results under challenging conditions in the agricultural sector.
  • The company’s net sales fell to $2.6 billion, representing a 19% decline from the previous year or 11% when adjusted for the divestiture of its Grain & Protein business.
  • This reduction reflects persisting softness in key regions, including North America and Western Europe, compounded by reduced dealer inventory levels.

W.W. Grainger’s Zoro Growth Engine – Can It Defy Market Challenges?

By Baptista Research

  • W.W. Grainger’s second-quarter financial performance in 2025 depicted a mixed yet stable operational stance amidst ongoing market uncertainties.
  • The company reported sales of nearly $4.6 billion, up 5.6% year-over-year, or 5.1% on a constant currency basis, which suggests a steady demand in its broad industrial customer base despite macroeconomic uncertainties.
  • Operating margins were recorded at 14.9%, with diluted EPS increasing by $0.21 to $9.97.

💡 Before it’s here, it’s on Smartkarma

Sign Up for Free

The Smartkarma Preview Pass is your entry to the Independent Investment Research Network

  • ✓ Unlimited Research Summaries
  • ✓ Personalised Alerts
  • ✓ Custom Watchlists
  • ✓ Company Data and News
  • ✓ Events & Webinars
Sign Up for Free


Aug 14
0

Daily Brief Industrials: DroneShield Ltd, ICTSI, bpost SA, Rush Enterprises Inc Cl A, Amaero International Ltd, Water Intelligence, BQE Water , Mastech Digital , Nauticus Robotics and more

By | Daily Briefs, Industrials

In today’s briefing:

  • S&P/​​​​​​​​​ASX Index Rebalance Preview (Sep 25): Potential Changes if Methodology Is Updated
  • Container Port Terminal Screener August 2025: Strong Q2 Results Season
  • What’s News in Amsterdam – 13 August (Shell | InPost/DHL | bpostgroup)
  • Rush Enterprises Faces a Regulatory Storm—Can Its Stock Withstand the EPA Uncertainty?
  • Amaero International Ltd – Scaling revenue in H1 FY26, guidance reaffirmed
  • Water Intelligence PLC – Hybridan Small Cap Feast: 06/08/2025
  • BQE: Expanded Service Offering to Support Growth Strategy
  • MHH: Mastech Digital Reports a Solid Q2 and Looks to an Improved Cost Structure Under New Management
  • Nauticus Robotics, Inc: 2Q25 Shows Benefits of SeaTrepid Acquisition

S&P/​​​​​​​​​ASX Index Rebalance Preview (Sep 25): Potential Changes if Methodology Is Updated

By Brian Freitas

  • S&P DJI have proposed methodology changes to the S&P/ASX family of indices to enhance representativeness and more quickly reflect changing market conditions. The consultation conclusions could be announced next week.
  • The updated methodology could lead to 51 changes across the family of indices with implementation on 19 September. There will be a large impact on a number of stocks.
  • The forecast adds have outperformed the forecast deletes over the last several months and near-term performance has been spectacular for the S&P/ASX 200 (AS51 INDEX) and S&P/ASX 300 Index changes.

Container Port Terminal Screener August 2025: Strong Q2 Results Season

By Sameer Taneja

What’s News in Amsterdam – 13 August (Shell | InPost/DHL | bpostgroup)

By The IDEA!

  • In this edition: • Shell | loses arbitration case against Venture Global • InPost / DHL | DHL now has 7,000 APMs in Poland • bpostgroup | looking for an exclusive telecom partner

Rush Enterprises Faces a Regulatory Storm—Can Its Stock Withstand the EPA Uncertainty?

By Baptista Research

  • Rush Enterprises reported significant figures for its second quarter, obtaining $1.9 billion in revenue and a net income of $72.4 million, or $0.90 per diluted share.
  • An uptick was seen in its quarterly dividend with a 1% increase to $0.19 per share.
  • However, the company navigated a challenging market, notably within a prevailing freight recession enduring over two years.

Amaero International Ltd – Scaling revenue in H1 FY26, guidance reaffirmed

By Research as a Service (RaaS)

  • Amaero Ltd (ASX:3DA) is a global specialist in advanced materials manufacturing for the defence, aerospace and other industrial sectors, developing a critical metals alloy powder manufacturing facility in Tennessee, USA.
  • The company provided a trading update to the market on 13 August in which it announced Q1 FY26 revenue would be approximately $5.5m, an increase of 560% on Q1 FY25 and that 90% of planned Q2 FY26 revenue had already been contracted.
  • Amaero also reaffirmed its previous guidance that it expects significantly scale revenue in FY26 and to achieve EBITDA positive in FY27.

Water Intelligence PLC – Hybridan Small Cap Feast: 06/08/2025

By Hybridan

  • AudioBoom Group 347.5p £62.4m (BOOM.L) The global podcast company, announced key milestones and data points connected to the growth of its podcast video operations.
  • The company, and its recently acquired British podcast network Adelicious, continue to develop their video strategy and platform capabilities as production and consumption of video podcasting accelerates.
  • In June 2025, more than 60% of podcasters on the Audioboom Creator Network produced video versions of their podcasts. 

BQE: Expanded Service Offering to Support Growth Strategy

By Atrium Research

  • BQE announced a strategic expansion of its service offering into aquatic toxicology.
  • This includes key hiring decisions, the establishment of a new laboratory, and the development of in-house resources.
  • The added services will allow BQE to build relationships with new clients, which will also require water treatment services (recurring revenue).

MHH: Mastech Digital Reports a Solid Q2 and Looks to an Improved Cost Structure Under New Management

By Zacks Small Cap Research

  • Mastech Digital, based outside Pittsburgh, PA is an IT staffing business with a data and analytics, consulting, and project management service serving blue-chip customers in the US.
  • The company trades below its peers and we expect stock price appreciation when the company returns to growth later this year.
  • New management has implemented a new focus on AI and hopes to profit by aiding clients in its implementation.

Nauticus Robotics, Inc: 2Q25 Shows Benefits of SeaTrepid Acquisition

By Water Tower Research

  • Nauticus Robotics (KITT) specializes in autonomous robotics, primarily serving offshore oil & gas and the wind energy market.
  • The company’s flagship technology is the Aquanaut, an autonomous undersea robot capable of operating at depths up to 3,000 meters without tethers, relying instead on acoustic communications.
  • KITT also provides a software platform for autonomy, which is robotics-agnostic and can run on robots from other manufacturers, enabling broad applicability. 

💡 Before it’s here, it’s on Smartkarma

Sign Up for Free

The Smartkarma Preview Pass is your entry to the Independent Investment Research Network

  • ✓ Unlimited Research Summaries
  • ✓ Personalised Alerts
  • ✓ Custom Watchlists
  • ✓ Company Data and News
  • ✓ Events & Webinars
Sign Up for Free


Aug 14
0

Daily Brief Industrials: DroneShield Ltd, ICTSI, bpost SA, Rush Enterprises Inc Cl A, Amaero International Ltd, Water Intelligence, BQE Water , Mastech Digital , Nauticus Robotics and more

By | Daily Briefs, Industrials

In today’s briefing:

  • S&P/​​​​​​​​​ASX Index Rebalance Preview (Sep 25): Potential Changes if Methodology Is Updated
  • Container Port Terminal Screener August 2025: Strong Q2 Results Season
  • What’s News in Amsterdam – 13 August (Shell | InPost/DHL | bpostgroup)
  • Rush Enterprises Faces a Regulatory Storm—Can Its Stock Withstand the EPA Uncertainty?
  • Amaero International Ltd – Scaling revenue in H1 FY26, guidance reaffirmed
  • Water Intelligence PLC – Hybridan Small Cap Feast: 06/08/2025
  • BQE: Expanded Service Offering to Support Growth Strategy
  • MHH: Mastech Digital Reports a Solid Q2 and Looks to an Improved Cost Structure Under New Management
  • Nauticus Robotics, Inc: 2Q25 Shows Benefits of SeaTrepid Acquisition

S&P/​​​​​​​​​ASX Index Rebalance Preview (Sep 25): Potential Changes if Methodology Is Updated

By Brian Freitas

  • S&P DJI have proposed methodology changes to the S&P/ASX family of indices to enhance representativeness and more quickly reflect changing market conditions. The consultation conclusions could be announced next week.
  • The updated methodology could lead to 51 changes across the family of indices with implementation on 19 September. There will be a large impact on a number of stocks.
  • The forecast adds have outperformed the forecast deletes over the last several months and near-term performance has been spectacular for the S&P/ASX 200 (AS51 INDEX) and S&P/ASX 300 Index changes.

Container Port Terminal Screener August 2025: Strong Q2 Results Season

By Sameer Taneja

What’s News in Amsterdam – 13 August (Shell | InPost/DHL | bpostgroup)

By The IDEA!

  • In this edition: • Shell | loses arbitration case against Venture Global • InPost / DHL | DHL now has 7,000 APMs in Poland • bpostgroup | looking for an exclusive telecom partner

Rush Enterprises Faces a Regulatory Storm—Can Its Stock Withstand the EPA Uncertainty?

By Baptista Research

  • Rush Enterprises reported significant figures for its second quarter, obtaining $1.9 billion in revenue and a net income of $72.4 million, or $0.90 per diluted share.
  • An uptick was seen in its quarterly dividend with a 1% increase to $0.19 per share.
  • However, the company navigated a challenging market, notably within a prevailing freight recession enduring over two years.

Amaero International Ltd – Scaling revenue in H1 FY26, guidance reaffirmed

By Research as a Service (RaaS)

  • Amaero Ltd (ASX:3DA) is a global specialist in advanced materials manufacturing for the defence, aerospace and other industrial sectors, developing a critical metals alloy powder manufacturing facility in Tennessee, USA.
  • The company provided a trading update to the market on 13 August in which it announced Q1 FY26 revenue would be approximately $5.5m, an increase of 560% on Q1 FY25 and that 90% of planned Q2 FY26 revenue had already been contracted.
  • Amaero also reaffirmed its previous guidance that it expects significantly scale revenue in FY26 and to achieve EBITDA positive in FY27.

Water Intelligence PLC – Hybridan Small Cap Feast: 06/08/2025

By Hybridan

  • AudioBoom Group 347.5p £62.4m (BOOM.L) The global podcast company, announced key milestones and data points connected to the growth of its podcast video operations.
  • The company, and its recently acquired British podcast network Adelicious, continue to develop their video strategy and platform capabilities as production and consumption of video podcasting accelerates.
  • In June 2025, more than 60% of podcasters on the Audioboom Creator Network produced video versions of their podcasts. 

BQE: Expanded Service Offering to Support Growth Strategy

By Atrium Research

  • BQE announced a strategic expansion of its service offering into aquatic toxicology.
  • This includes key hiring decisions, the establishment of a new laboratory, and the development of in-house resources.
  • The added services will allow BQE to build relationships with new clients, which will also require water treatment services (recurring revenue).

MHH: Mastech Digital Reports a Solid Q2 and Looks to an Improved Cost Structure Under New Management

By Zacks Small Cap Research

  • Mastech Digital, based outside Pittsburgh, PA is an IT staffing business with a data and analytics, consulting, and project management service serving blue-chip customers in the US.
  • The company trades below its peers and we expect stock price appreciation when the company returns to growth later this year.
  • New management has implemented a new focus on AI and hopes to profit by aiding clients in its implementation.

Nauticus Robotics, Inc: 2Q25 Shows Benefits of SeaTrepid Acquisition

By Water Tower Research

  • Nauticus Robotics (KITT) specializes in autonomous robotics, primarily serving offshore oil & gas and the wind energy market.
  • The company’s flagship technology is the Aquanaut, an autonomous undersea robot capable of operating at depths up to 3,000 meters without tethers, relying instead on acoustic communications.
  • KITT also provides a software platform for autonomy, which is robotics-agnostic and can run on robots from other manufacturers, enabling broad applicability. 

💡 Before it’s here, it’s on Smartkarma

Sign Up for Free

The Smartkarma Preview Pass is your entry to the Independent Investment Research Network

  • ✓ Unlimited Research Summaries
  • ✓ Personalised Alerts
  • ✓ Custom Watchlists
  • ✓ Company Data and News
  • ✓ Events & Webinars
Sign Up for Free


Aug 13
0

Daily Brief Industrials: LS Corp, Grab Holdings , EVE Energy, Mytilineos Holdings Sa, Rolls-Royce Holdings, Emcor Group Inc, Builders Firstsource, Titan America, Oyo Corp, Rasa Corporation and more

By | Daily Briefs, Industrials

In today’s briefing:

  • LS Corp: Treasury Share Cancellation of 171 Billion Won
  • GRAB Holdings Riding A 19% GMV Surge – Can Its Super App Ecosystem Keep Momentum Alive?
  • Eve Energy A/H Listing – One of the Leaders but Growth Has Been Slowing
  • UK Index September 2025 Forecast: Greece in F100 & Other New Candidates in F250
  • Rolls-Royce’s Civil Aerospace Upgrades Double Engine Lifespan–Is This A Key Catalyst For The Future?
  • EMCOR Group: Leveraging Prefabrication Power To Push For High-Value Construction Projects!
  • Builders FirstSource Set to Surge if Mortgage Rates Drop – What Else Could Propel Their Future Growth?
  • Titan America (TTAM) Six Month Summary: From Steady Debut to a Sluggish Slide
  • Oyo Corp (9755 JP): 1H FY12/25 flash update
  • Rasa Corporation (3023 JP): Q1 FY03/26 flash update

LS Corp: Treasury Share Cancellation of 171 Billion Won

By Douglas Kim

  • On 12 August, LS Corp (006260 KS) announced that it will cancel 1 million treasury shares (171 billion won), representing 3.1% of its outstanding shares.
  • This is significant, especially because the company has not cancelled any shares in the past five years. This move signals the company’s willingness to provide greater returns to its shareholders.
  • LS plans to increase its dividend by at least 5% annually, to reach dividend payout of at least 30% by 2030.

GRAB Holdings Riding A 19% GMV Surge – Can Its Super App Ecosystem Keep Momentum Alive?

By Baptista Research

  • Grab Holdings’ second-quarter 2025 earnings reflected a mix of strong operational progress and notable challenges, painting a nuanced picture for investors evaluating the company’s prospects.
  • The quarter showcased impressive momentum in user engagement, with group Monthly Transacting Users (MTUs) continuing to rise and on-demand Gross Merchandise Value (GMV) posting 21% year-on-year growth in US dollar terms and 18% in constant currency.
  • This growth underscores the platform’s increasing utilization and the loyalty of its user base.

Eve Energy A/H Listing – One of the Leaders but Growth Has Been Slowing

By Sumeet Singh

  • EVE Energy (300014 CH) (EVE), a lithium battery provider, aims to raise around US$1bn in its H-share listing.
  • EVE produces lithium batteries which cater to consumer battery, power battery and ESS battery sectors.
  • In this note, we look at its past performance and other deal dynamics that might impact the listing.

UK Index September 2025 Forecast: Greece in F100 & Other New Candidates in F250

By Dimitris Ioannidis

Rolls-Royce’s Civil Aerospace Upgrades Double Engine Lifespan–Is This A Key Catalyst For The Future?

By Baptista Research

  • Rolls-Royce Holdings PLC is navigating through a complex landscape with several achievements and challenges highlighted in their recent results presentation.
  • The company’s financial performance in the first half of 2025 reflects strong progress across its divisions, underscored by its transformation program designed to make RollsRoyce a more competitive and resilient business.
  • On the positive side, Rolls-Royce reported a 50% increase in operating profit to GBP 1.7 billion, driven by significant improvements across Civil Aerospace, Defence, and Power Systems.

EMCOR Group: Leveraging Prefabrication Power To Push For High-Value Construction Projects!

By Baptista Research

  • EMCOR Group reported a robust performance for the second quarter of 2025, marked by significant revenue growth and strong operating margins.
  • The company achieved a record $4.3 billion in consolidated revenues, representing a 17.4% increase compared to the same period last year.
  • This growth was driven by a combination of organic expansion and strategic acquisitions, notably Miller Electric, which contributed $330.3 million to the overall revenue.

Builders FirstSource Set to Surge if Mortgage Rates Drop – What Else Could Propel Their Future Growth?

By Baptista Research

  • Builders FirstSource operates within a dynamic and challenging market environment in the construction industry.
  • In its second quarter of 2025, the company has faced some notable financial and operational challenges, yet also showed resilience and strategic forward-thinking.
  • Their performance presentation outlines both areas of strength and concern that potential investors should consider.

Titan America (TTAM) Six Month Summary: From Steady Debut to a Sluggish Slide

By IPO Boutique

  • Titan America priced 24 million shares at $16.00 per share and saw an opening print of $16.20.
  • TTAM began a slow descent, bottoming at $10.80 in early April—a near 33% loss from its IPO price.
  • Value investors found favor in the secular tailwinds of US infrastructure following the IPO roadshow but that support faded as the months wore on.

Oyo Corp (9755 JP): 1H FY12/25 flash update

By Shared Research

  • In 1H FY12/25, orders were JPY47.3bn (+4.4% YoY), revenue JPY36.8bn (+6.5% YoY), operating profit JPY2.7bn (+14.5% YoY).
  • Orders for domestic infrastructure projects rose to JPY19.2bn (+27.7% YoY), revenue JPY13.6bn (+13.4% YoY), operating profit JPY375mn (+120.6% YoY).
  • Orders for offshore wind projects declined to JPY20.7bn (-5.3% YoY), revenue JPY15.1bn (+18.7% YoY), operating profit JPY2.7bn (+46.1% YoY).

Rasa Corporation (3023 JP): Q1 FY03/26 flash update

By Shared Research

  • Revenue increased by 2.7% YoY to JPY5.8bn, with operating profit rising 36.8% YoY to JPY290mn.
  • Segment profit for the Environmental Equipment business surged 132.7% YoY, despite a 7.8% YoY revenue decline.
  • Construction segment posted a JPY30mn loss due to a 27.0% YoY decrease in large-scale project volume.

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  • ✓ Personalised Alerts
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  • ✓ Events & Webinars
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Aug 13
0

Daily Brief Industrials: LS Corp, Grab Holdings , EVE Energy, Mytilineos Holdings Sa, Rolls-Royce Holdings, Emcor Group Inc, Builders Firstsource, Titan America, Oyo Corp, Rasa Corporation and more

By | Daily Briefs, Industrials

In today’s briefing:

  • LS Corp: Treasury Share Cancellation of 171 Billion Won
  • GRAB Holdings Riding A 19% GMV Surge – Can Its Super App Ecosystem Keep Momentum Alive?
  • Eve Energy A/H Listing – One of the Leaders but Growth Has Been Slowing
  • UK Index September 2025 Forecast: Greece in F100 & Other New Candidates in F250
  • Rolls-Royce’s Civil Aerospace Upgrades Double Engine Lifespan–Is This A Key Catalyst For The Future?
  • EMCOR Group: Leveraging Prefabrication Power To Push For High-Value Construction Projects!
  • Builders FirstSource Set to Surge if Mortgage Rates Drop – What Else Could Propel Their Future Growth?
  • Titan America (TTAM) Six Month Summary: From Steady Debut to a Sluggish Slide
  • Oyo Corp (9755 JP): 1H FY12/25 flash update
  • Rasa Corporation (3023 JP): Q1 FY03/26 flash update

LS Corp: Treasury Share Cancellation of 171 Billion Won

By Douglas Kim

  • On 12 August, LS Corp (006260 KS) announced that it will cancel 1 million treasury shares (171 billion won), representing 3.1% of its outstanding shares.
  • This is significant, especially because the company has not cancelled any shares in the past five years. This move signals the company’s willingness to provide greater returns to its shareholders.
  • LS plans to increase its dividend by at least 5% annually, to reach dividend payout of at least 30% by 2030.

GRAB Holdings Riding A 19% GMV Surge – Can Its Super App Ecosystem Keep Momentum Alive?

By Baptista Research

  • Grab Holdings’ second-quarter 2025 earnings reflected a mix of strong operational progress and notable challenges, painting a nuanced picture for investors evaluating the company’s prospects.
  • The quarter showcased impressive momentum in user engagement, with group Monthly Transacting Users (MTUs) continuing to rise and on-demand Gross Merchandise Value (GMV) posting 21% year-on-year growth in US dollar terms and 18% in constant currency.
  • This growth underscores the platform’s increasing utilization and the loyalty of its user base.

Eve Energy A/H Listing – One of the Leaders but Growth Has Been Slowing

By Sumeet Singh

  • EVE Energy (300014 CH) (EVE), a lithium battery provider, aims to raise around US$1bn in its H-share listing.
  • EVE produces lithium batteries which cater to consumer battery, power battery and ESS battery sectors.
  • In this note, we look at its past performance and other deal dynamics that might impact the listing.

UK Index September 2025 Forecast: Greece in F100 & Other New Candidates in F250

By Dimitris Ioannidis

Rolls-Royce’s Civil Aerospace Upgrades Double Engine Lifespan–Is This A Key Catalyst For The Future?

By Baptista Research

  • Rolls-Royce Holdings PLC is navigating through a complex landscape with several achievements and challenges highlighted in their recent results presentation.
  • The company’s financial performance in the first half of 2025 reflects strong progress across its divisions, underscored by its transformation program designed to make RollsRoyce a more competitive and resilient business.
  • On the positive side, Rolls-Royce reported a 50% increase in operating profit to GBP 1.7 billion, driven by significant improvements across Civil Aerospace, Defence, and Power Systems.

EMCOR Group: Leveraging Prefabrication Power To Push For High-Value Construction Projects!

By Baptista Research

  • EMCOR Group reported a robust performance for the second quarter of 2025, marked by significant revenue growth and strong operating margins.
  • The company achieved a record $4.3 billion in consolidated revenues, representing a 17.4% increase compared to the same period last year.
  • This growth was driven by a combination of organic expansion and strategic acquisitions, notably Miller Electric, which contributed $330.3 million to the overall revenue.

Builders FirstSource Set to Surge if Mortgage Rates Drop – What Else Could Propel Their Future Growth?

By Baptista Research

  • Builders FirstSource operates within a dynamic and challenging market environment in the construction industry.
  • In its second quarter of 2025, the company has faced some notable financial and operational challenges, yet also showed resilience and strategic forward-thinking.
  • Their performance presentation outlines both areas of strength and concern that potential investors should consider.

Titan America (TTAM) Six Month Summary: From Steady Debut to a Sluggish Slide

By IPO Boutique

  • Titan America priced 24 million shares at $16.00 per share and saw an opening print of $16.20.
  • TTAM began a slow descent, bottoming at $10.80 in early April—a near 33% loss from its IPO price.
  • Value investors found favor in the secular tailwinds of US infrastructure following the IPO roadshow but that support faded as the months wore on.

Oyo Corp (9755 JP): 1H FY12/25 flash update

By Shared Research

  • In 1H FY12/25, orders were JPY47.3bn (+4.4% YoY), revenue JPY36.8bn (+6.5% YoY), operating profit JPY2.7bn (+14.5% YoY).
  • Orders for domestic infrastructure projects rose to JPY19.2bn (+27.7% YoY), revenue JPY13.6bn (+13.4% YoY), operating profit JPY375mn (+120.6% YoY).
  • Orders for offshore wind projects declined to JPY20.7bn (-5.3% YoY), revenue JPY15.1bn (+18.7% YoY), operating profit JPY2.7bn (+46.1% YoY).

Rasa Corporation (3023 JP): Q1 FY03/26 flash update

By Shared Research

  • Revenue increased by 2.7% YoY to JPY5.8bn, with operating profit rising 36.8% YoY to JPY290mn.
  • Segment profit for the Environmental Equipment business surged 132.7% YoY, despite a 7.8% YoY revenue decline.
  • Construction segment posted a JPY30mn loss due to a 27.0% YoY decrease in large-scale project volume.

💡 Before it’s here, it’s on Smartkarma

Sign Up for Free

The Smartkarma Preview Pass is your entry to the Independent Investment Research Network

  • ✓ Unlimited Research Summaries
  • ✓ Personalised Alerts
  • ✓ Custom Watchlists
  • ✓ Company Data and News
  • ✓ Events & Webinars
Sign Up for Free


Aug 12
0

Daily Brief Industrials: SK Square , CoreCivic , U-Haul Holding , Yamabiko Corp and more

By | Daily Briefs, Industrials

In today’s briefing:

  • Identifying the SK Square Vs. Hynix Price Ratio Reversion Alpha Setup
  • CXW: Strong 2Q25 Reflects Rising Utilization, Expected to Continue, Operating Leverage
  • UHAL: U-Haul Reports 1Q FY2025 Financial Results. Revenues were again above expectations
  • UHAL: U-Haul Reports 1Q FY2026 Financial Results. Revenues were again above expectations
  • Yamabiko Corp (6250 JP): 1H FY12/25 flash update

Identifying the SK Square Vs. Hynix Price Ratio Reversion Alpha Setup

By Sanghyun Park

  • Hunting the reversion point for Square-Hynix price ratio amid local buzz: need clear pro-business tax signals and Hynix’s downtrend to continue despite today’s bounce.
  • Tax tweak likely turns neutral despite gov’s cautious tone today. Hynix’s bounce faces headwinds from supply ramp and yield issues, so fresh rally odds remain slim.
  • Focus on hunting SK Square vs. Hynix price ratio reversion, pairing it with Samsung Long/Hynix Short for a strong short-term trade setup to ride the trend.

CXW: Strong 2Q25 Reflects Rising Utilization, Expected to Continue, Operating Leverage

By Zacks Small Cap Research

  • CXW’s adjusted EPS of $0.36 beat our/consensus forecast significantly, primarily reflecting higher populations at its facilities (54k in 2Q25 vs 51.5k in 2Q24) and higher average per diem rates combined with operating leverage and cost efficiencies.
  • We believe CXW’s modern facilities & long-term experience will continue to lead to new contracts & that with liquidity of ~$347m & strong cash flow, CXW is well-positioned to continue growth initiatives and maintain other capital allocation activities including share buybacks (3.9m shares in 1H25).

UHAL: U-Haul Reports 1Q FY2025 Financial Results. Revenues were again above expectations

By Zacks Small Cap Research

  • U-Haul Holding Company is the parent company of U-Haul International, the world’s largest consumer truck and trailer rental company.
  • U-Haul is also the third largest self-storage operator in North America.
  • Management continues to expand capacity in the self-storage segment and U-Box.

UHAL: U-Haul Reports 1Q FY2026 Financial Results. Revenues were again above expectations

By Zacks Small Cap Research

  • U-Haul Holding Company is the parent company of U-Haul International, the world’s largest consumer truck and trailer rental company.
  • U-Haul is also the third largest self-storage operator in North America.
  • Management continues to expand capacity in the self-storage segment and U-Box.

Yamabiko Corp (6250 JP): 1H FY12/25 flash update

By Shared Research

  • Revenue increased to JPY91.3bn (+5.7% YoY), driven by OPE segment growth, reaching 54.7% of full-year forecast.
  • Operating profit rose 3.1% YoY to JPY11.7bn, while recurring profit fell 14.9% YoY due to foreign exchange losses.
  • Net income attributable to owners decreased 25.3% YoY to JPY7.5bn, impacted by income tax adjustments and yen appreciation.

💡 Before it’s here, it’s on Smartkarma

Sign Up for Free

The Smartkarma Preview Pass is your entry to the Independent Investment Research Network

  • ✓ Unlimited Research Summaries
  • ✓ Personalised Alerts
  • ✓ Custom Watchlists
  • ✓ Company Data and News
  • ✓ Events & Webinars
Sign Up for Free


Aug 12
0

Daily Brief Industrials: SK Square , CoreCivic , U-Haul Holding , Yamabiko Corp and more

By | Daily Briefs, Industrials

In today’s briefing:

  • Identifying the SK Square Vs. Hynix Price Ratio Reversion Alpha Setup
  • CXW: Strong 2Q25 Reflects Rising Utilization, Expected to Continue, Operating Leverage
  • UHAL: U-Haul Reports 1Q FY2025 Financial Results. Revenues were again above expectations
  • UHAL: U-Haul Reports 1Q FY2026 Financial Results. Revenues were again above expectations
  • Yamabiko Corp (6250 JP): 1H FY12/25 flash update

Identifying the SK Square Vs. Hynix Price Ratio Reversion Alpha Setup

By Sanghyun Park

  • Hunting the reversion point for Square-Hynix price ratio amid local buzz: need clear pro-business tax signals and Hynix’s downtrend to continue despite today’s bounce.
  • Tax tweak likely turns neutral despite gov’s cautious tone today. Hynix’s bounce faces headwinds from supply ramp and yield issues, so fresh rally odds remain slim.
  • Focus on hunting SK Square vs. Hynix price ratio reversion, pairing it with Samsung Long/Hynix Short for a strong short-term trade setup to ride the trend.

CXW: Strong 2Q25 Reflects Rising Utilization, Expected to Continue, Operating Leverage

By Zacks Small Cap Research

  • CXW’s adjusted EPS of $0.36 beat our/consensus forecast significantly, primarily reflecting higher populations at its facilities (54k in 2Q25 vs 51.5k in 2Q24) and higher average per diem rates combined with operating leverage and cost efficiencies.
  • We believe CXW’s modern facilities & long-term experience will continue to lead to new contracts & that with liquidity of ~$347m & strong cash flow, CXW is well-positioned to continue growth initiatives and maintain other capital allocation activities including share buybacks (3.9m shares in 1H25).

UHAL: U-Haul Reports 1Q FY2025 Financial Results. Revenues were again above expectations

By Zacks Small Cap Research

  • U-Haul Holding Company is the parent company of U-Haul International, the world’s largest consumer truck and trailer rental company.
  • U-Haul is also the third largest self-storage operator in North America.
  • Management continues to expand capacity in the self-storage segment and U-Box.

UHAL: U-Haul Reports 1Q FY2026 Financial Results. Revenues were again above expectations

By Zacks Small Cap Research

  • U-Haul Holding Company is the parent company of U-Haul International, the world’s largest consumer truck and trailer rental company.
  • U-Haul is also the third largest self-storage operator in North America.
  • Management continues to expand capacity in the self-storage segment and U-Box.

Yamabiko Corp (6250 JP): 1H FY12/25 flash update

By Shared Research

  • Revenue increased to JPY91.3bn (+5.7% YoY), driven by OPE segment growth, reaching 54.7% of full-year forecast.
  • Operating profit rose 3.1% YoY to JPY11.7bn, while recurring profit fell 14.9% YoY due to foreign exchange losses.
  • Net income attributable to owners decreased 25.3% YoY to JPY7.5bn, impacted by income tax adjustments and yen appreciation.

💡 Before it’s here, it’s on Smartkarma

Sign Up for Free

The Smartkarma Preview Pass is your entry to the Independent Investment Research Network

  • ✓ Unlimited Research Summaries
  • ✓ Personalised Alerts
  • ✓ Custom Watchlists
  • ✓ Company Data and News
  • ✓ Events & Webinars
Sign Up for Free