In today’s briefing:
- Local Observations on Carlyle’s Possible Buyout of Hanon Systems
- Skechers U.S.A.: Does The Recovery In Wholesale Orderbook Warrant A Bullish Thesis? – Major Drivers
- Tsuruha Holdings (3391): Tsuruha Joins Aeon and Welcia Holdings in Capital and Business Alliance
- The J. M. Smucker Company: Initiation Of Coverage – Core Business Strategy & 5 Key Performance Drivers – Financial Forecasts
- GRG: Half Way There
- Hormel Foods Corporation: Will Their Reinvestment Of Cash Flows Into Branding & Innovation Catalyze Growth? – Key Drivers
- Hyatt Hotels Corporation: What Is Their 2024 Outlook & Their Future Growth Prospects? – Key Drivers
- Monster Beverage Corporation: Increasing Global Market Share & 5 Other Factors Catalyzing Growth In 2024 Or Beyond! – Major Drivers
- Paramount Global: Are The Effective Distribution Deals Changing Its Game? – Major Drivers
- Best Buy Co.: Online Sales Growth & 5 Factors Driving Its Performance! – Financial Forecasts
Local Observations on Carlyle’s Possible Buyout of Hanon Systems
- Carlyle’s renewed interest in acquiring Hanon Systems is evident from recent local market news, indicating outreach to bankers for a potential buyout, as confirmed by a local brokerage.
- Carlyle eyes majority control of Hanon Systems, targeting 50.5% from Hahn & Co and 19.5% from Hankook Tire. Carlyle may extend a tender offer for the remaining 30%.
- Still early stages; no solid info on deal certainty or specifics. Limited immediate trading opportunities, but worth monitoring as it progresses.
Skechers U.S.A.: Does The Recovery In Wholesale Orderbook Warrant A Bullish Thesis? – Major Drivers
- Skechers ended the 2023 fiscal year on a high note, reaching an annual sales record of $8 billion, a $556 million increase compared to the prior year.
- This milestone was the result of four quarterly sales records, including $1.96 billion for the fourth quarter.
- The company also achieved an annual gross margin record of 51.9%.
Tsuruha Holdings (3391): Tsuruha Joins Aeon and Welcia Holdings in Capital and Business Alliance
- Tsuruha Holdings (3391 JP) , established in 1929, operates a chain of drugstores.
- In FY05/23, Tsuruha reported sales of JPY970.1bn, operating profit of JPY45.6bn, recurring profit of JPY45.7bn, and net income attributable to owners of the parent of JPY25.3bn.
- In response to a challenging business environment within the drugstore industry, the three companies have recognized the necessity of fundamentally transforming their business models.
The J. M. Smucker Company: Initiation Of Coverage – Core Business Strategy & 5 Key Performance Drivers – Financial Forecasts
- This is our first report on food and beverage major, J. M. Smucker.
- In its 3rd quarter earnings for fiscal year 2024, J. M. Smucker Company (Smucker) effectively outlined promising growth indicators across its portfolio, validated the strategic maneuvering of its product mix, and reaffirmed confidence in its forecasting.
- On the surface, company executives displayed a marginal optimism, with the company reporting 6% comparable sales growth.
GRG: Half Way There
- On March 5th, Greggs followed up the January trading update to release the remainder of its FY23 results.
- The Jan trading update showed that revenues of £1.81 billion grew +20% in the year, with a healthy +13.7% like-for-like sales1 comp.
- We also learned that the business opened 145 net new shops, bringing the total to 2,473 (+6%), surpassed its 500th franchise store, and expanded delivery across partners UberEats and JustEat.
Hormel Foods Corporation: Will Their Reinvestment Of Cash Flows Into Branding & Innovation Catalyze Growth? – Key Drivers
- Hormel Foods Corporation has shown a strong start for the first quarter of 2024 with better-than expected performance across all its segments, showcasing the comprehensive execution of its strategic priorities and improvements in its supply chain.
- The top-line saw a 1% growth, bolstered by a 4% increase in volumes with foodservice pacing ahead significantly.
- Baptista Research looks to evaluate the different factors that could influence the company’s price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.
Hyatt Hotels Corporation: What Is Their 2024 Outlook & Their Future Growth Prospects? – Key Drivers
- Hyatt Hotels Corporation has announced its Q4 2023 earnings with modest growth and strategic accomplishments.
- With revenues derived mainly from leisure travel and group room bookings, Hyatt ended the year with its highest-ever free cash flow, a record pipeline, and the industry’s fastest-growing loyalty program.
- With group room revenue up 11% compared to 2022, Hyatt managed to book nearly $2 billion of future business in 2023, signaling robust demand for its hotel facilities.
Monster Beverage Corporation: Increasing Global Market Share & 5 Other Factors Catalyzing Growth In 2024 Or Beyond! – Major Drivers
- Monster Beverage Company’s fourth quarter of 2023 was highlighted by record net sales of $1.73 billion, a 14.4% increase compared to $1.51 billion in the same period in 2022.
- Gross profit for the quarter was 54.2% of net sales, up from 51.8% in the fourth quarter of 2022.
- The increase in gross profit was primarily driven by pricing actions, lower freight-in costs, and decreased input costs.
Paramount Global: Are The Effective Distribution Deals Changing Its Game? – Major Drivers
- Paramount Global’s Q4 2023 Earnings demonstrated the company’s strategy in a dynamic and challenging industry.
- Despite facing two labor strikes, a challenging macroeconomic environment and constant evolution within the media industry, Paramount Global successfully capitalized on these obstacles to position itself for significant growth in company earnings and free cash flow for 2024.
- Baptista Research looks to evaluate the different factors that could influence the company’s price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.
Best Buy Co.: Online Sales Growth & 5 Factors Driving Its Performance! – Financial Forecasts
- Best Buy’s fourth quarter fiscal 2024 results displayed mixed sentiments, featuring both challenges and triumphs.
- CEO Corie Barry commended the company’s performance in dealing with a pressured Consumer Electronics (CE) sales environment, leading to a delivery of annual profitability at the high end of their original guidance.
- However, revenues fell short of their guidance range.
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