In today’s briefing:
- Nobian – ESG Report – Lucror Analytics
- Steel Dynamics Inc: 4 Surprising Reasons For Their Growth – Financial Forecasts
- Alcoa Corp: New Carbon Capture Technology & Other Developments
- Initial Thoughts on the HD Hyundai Global Service IPO in 2024 – Impact on HD Hyundai
- Gold, Yen and Finding the Recession
- Schlumberger Limited: Offshore Activity & Efficiency Moves Fueling Their Growth? – Key Drivers
Nobian – ESG Report – Lucror Analytics
- Lucror Analytics’ ESG Scores are based on a 3-tiered scale and are adjusted for Controversies (if applicable).
- We assess Nobian’s ESG as “Adequate”, in line with its Environmental, Social and Governance scores. Controversies are “Immaterial” and Disclosure is “Strong”.
- Nobian is a leading integrated European chemicals manufacturer and supplier in the energy-salt-chlorine value chain.
Steel Dynamics Inc: 4 Surprising Reasons For Their Growth – Financial Forecasts
- Steel Dynamics had a disappointing second quarter with revenues below Wall Street expectations though they did manage to report improved net income and EBITDA.
- The management noted increased pricing and metal spread across flat-rolled and long-product steel operations.
- Steel Dynamics’ net income stood at $812 million, operating income at $1.1 billion, and EBITDA at $1.2 billion.
Alcoa Corp: New Carbon Capture Technology & Other Developments
- Alcoa delivered a solid result and managed an all-around beat in the last quarter.
- The company had a mixed last quarter and reported slightly higher revenue and increased shipments but experienced challenges due to market conditions.
- Despite lower alumina and aluminum prices, they improved net loss due to the nonrecurrence of specific charges.
Initial Thoughts on the HD Hyundai Global Service IPO in 2024 – Impact on HD Hyundai
- HD Hyundai Global Service is getting ready to complete its IPO in 2024.
- The local media currently estimates the value of HD Hyundai Global Service to be about 2 trillion won to 3 trillion won.
- According to our NAV analysis, it suggests a base case valuation of 75,260 won per share for HD Hyundai, representing a 22% upside from current levels.
Gold, Yen and Finding the Recession
- Finally, we see the beginning of the long-anticipated monetary normalisation in Japan.
- This is the only country in the world to still have negative interest rates, which is odd given inflation has been rising, albeit modestly to Western Economies.
- This ultra-loose policy has seen bond yields remain close to zero while the yen has slumped.
Schlumberger Limited: Offshore Activity & Efficiency Moves Fueling Their Growth? – Key Drivers
- Schlumberger delivered a mixed set of results for the previous quarter, with revenues below the analyst consensus.
- The strong performance was driven by high-quality global revenue, particularly in the Middle East and Asia, with offshore activity contributing to margin expansion.
- Furthermore, Schlumberger’s divisions, including Digital & Integration, Reservoir Performance, Well Construction, and Production Systems, contributed to the overall revenue growth and margin expansion.
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