In today’s briefing:
- Origin Energy (All But) Supports Brookfield/EIG’s Revised Terms
- BP PLC: Major Drivers, Financial Forecasts, DCF & Comparables Valuation, ESG & Other Risks (02/23)
- BHP Group: Focus On The Outlook
Origin Energy (All But) Supports Brookfield/EIG’s Revised Terms
- The Brookfield/EIG consortium has reduced its Offer for Origin (ORG AU) to ~A$8.90/share, down from A$9.00/share, after conducting due diligence in the wake of the Aussie government’s gas price intervention.
- Oddly, this revised proposal remains non-binding, suggesting a number of political kinks still need to be ironed out.
- For its part, Origin’s board reckons the revised proposal has the potential to deliver significant value to shareholders, all but guaranteeing board support, assuming a firm Offer unfolds.
BP PLC: Major Drivers, Financial Forecasts, DCF & Comparables Valuation, ESG & Other Risks (02/23)
- BP had a mixed quarter and its revenues were significantly above Wall Street expectations.
- The management’s emphasis on cost performance as well as operational reliability underpinned robust financial delivery.
- Despite the fact that its costs are being controlled, the company missed out on meeting the earnings estimates of analysts.
BHP Group: Focus On The Outlook
- BHP Group Limited’s half-year earnings report isn’t as bad as it seems, as there is a disparity between the firm’s realized performance and its prospects.
- Lower rainfall could result in ramp-ups across the board.
- Slower core and non-core inflation will likely establish a lower cost base for BHP.
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