In today’s briefing:
- Dorf-Ketal Chemicals India Ltd Pre-IPO Tearsheet
- Southwest Airlines: An Insight Into Its Fleet Optimization Strategy to Maximize Economic Benefits!
- Saigon Cargo Services (SCS VN): Q4 2024 And FY24 Analysis, Updates and More
- Nagase & Co Ltd (8012 JP): Q3 FY03/25 flash update
- Organo Corp (6368 JP): Q3 FY03/25 flash update
- A. O. Smith – Initiation Of Coverage – Why Are They Ditching Retail And Focusing On D2C?
- Yamada Consulting Group Co L (4792 JP): Q3 FY03/25 flash update
- Inabata & Co (8098 JP): Q3 FY03/25 flash update
- ManpowerGroup: How Are They Tackling Market Volatility and Employer Sentiment Challenges?
Dorf-Ketal Chemicals India Ltd Pre-IPO Tearsheet
- Dorf-Ketal Chemicals Ltd (998552Z IN) (DKCIL) is looking to raise about US$579m in its upcoming India IPO. The bookrunners for the deal are JM Fin, Citi, HSBC, JPM, MS, Motilal.
- DKCIL is an R&D with innovation-focused global manufacturer and supplier of specialty chemicals, catering to the hydrocarbons and industrial supply chains.
- According to the F&S Report, the company is one of the major producers in the development, commercialization, and application of specialty chemicals in India.
Southwest Airlines: An Insight Into Its Fleet Optimization Strategy to Maximize Economic Benefits!
- Southwest Airlines reported its fourth-quarter and full-year 2024 financial performance, which reflects several strategic developments and operational adjustments.
- The airline’s performance in 2024 marked a pivotal year in its ongoing transformation plan dubbed “Southwest.
- Even Better”, aimed at improving efficiency, reducing costs, and enhancing customer experience.
Saigon Cargo Services (SCS VN): Q4 2024 And FY24 Analysis, Updates and More
- In December 2024, cargo volumes rose 32.5% YoY and 3.8% MoM. Q4 volumes grew 37% YoY, reaching 73,070 tons, while FY24 volumes exceeded guidance at 267,368 tons, up 41% YoY.
- In FY24, revenues rose 47% YoY, and profits grew 39% YoY, driven by increased cargo volumes. The company will soon release its FY25 guidance, after which we’ll update our estimates.
- The stock is priced at 10.7xFY24 PE. Its 5-year average ROE is>50%, and its dividend yield is 6.9%. Once the annual report is released, we will follow up with updates.
Nagase & Co Ltd (8012 JP): Q3 FY03/25 flash update
- Sales increased by 5.9% YoY, with gross profit up 13.1% and operating profit up 34.7% YoY.
- Segment reclassification and expense allocation changes led to adjusted YoY comparisons for FY03/24 and FY03/25.
- Foreign exchange fluctuations positively impacted gross profit by JPY5.1bn and operating profit by JPY900mn.
Organo Corp (6368 JP): Q3 FY03/25 flash update
- Orders received totaled JPY118.0bn (+8.3% YoY), revenue JPY115.7bn (+8.9% YoY), operating profit JPY19.7bn (+39.1% YoY).
- Water Treatment Engineering orders were JPY99.0bn (+9.1% YoY), revenue JPY96.9bn (+9.4% YoY), operating profit JPY17.0bn (+41.8% YoY).
- Full-year forecast: orders JPY155.0bn (+7.3% YoY), revenue JPY167.5bn (+11.4% YoY), operating profit JPY31.0bn (+37.5% YoY).
A. O. Smith – Initiation Of Coverage – Why Are They Ditching Retail And Focusing On D2C?
- A.O. Smith Corporation’s recent earnings report reflects both positive aspects and areas of concern for investors.
- Starting with the positives, the company demonstrated resilience in several areas despite facing broader economic challenges.
- In North America, A.O. Smith managed to slightly increase sales due to higher boiler and water treatment sales, coupled with price benefits for water heaters.
Yamada Consulting Group Co L (4792 JP): Q3 FY03/25 flash update
- Revenue reached JPY17.1bn (+0.4% YoY), with operating profit at JPY3.4bn (+22.7% YoY) and net income JPY2.3bn (+5.7% YoY).
- Consulting business revenue was JPY14.7bn (+20.3% YoY), with M&A advisory services showing strong growth at JPY6.1bn (+55.4% YoY).
- Investment business revenue was JPY2.4bn, driven by private equity and real estate investment gains, exceeding full-year forecasts.
Inabata & Co (8098 JP): Q3 FY03/25 flash update
- Sales increased by 10.8% YoY, driven by a weaker yen and strong performance in Japan and Southeast Asia.
- Segment sales of JPY202.6bn rose 13.9% YoY, with strong sales in FPD-related and high-margin products.
- Segment profit of JPY10.3bn increased 32.5% YoY, aided by strong sales across various sectors and Novacel’s consolidation.
ManpowerGroup: How Are They Tackling Market Volatility and Employer Sentiment Challenges?
- ManpowerGroup recently reported its fourth-quarter earnings for 2024, revealing several key insights into its performance and strategic initiatives.
- With a revenue decline of 3% year-over-year in constant currency to $4.4 billion, the company’s results reflect challenging conditions in its primary markets, particularly Europe and North America.
- Despite this, segments like LATAM and APME displayed positive demand for services.
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