In today’s briefing:
- Honeywell Is Finally Powering Ahead: A Game-Changing Comeback in Aerospace & Building Automation!
- Westports Holdings (WPRTS MK): A Steady Pricing Growth Led Story
- TransUnion: Initiation Of Coverage- Strategic Global Expansion to Potentially Accelerate Its Growth Trajectory Outside North America!
- BQE: Contract Extended for Emergency Water Treatment
- Lucror Analytics – Morning Views Asia
- HNI Corporation: 2Q25 Adj. EPS of $1.11 Benefited from Margin Expansion, Growth
- Dover Corporation Is Assembling $400M in M&A Firepower—Is a Portfolio Shakeup Coming?
- Meiwa Corp (8103 JP): Q1 FY03/26 flash update
- Mitsubishi Kakoki Kaisha (6331 JP): Q1 FY03/26 flash update
- DNOW, Inc: MRC Merger Creates Premier Energy & Industrial Solutions Provider
Honeywell Is Finally Powering Ahead: A Game-Changing Comeback in Aerospace & Building Automation!
- In the second quarter of 2025, Honeywell International Inc. delivered robust financial results, maintaining or exceeding expectations across various metrics, despite economic fluctuations.
- The company reported a 5% increase in organic sales growth, driven by strong performances in the Defense and Space and UOP segments, as well as overall increases in orders and backlog reaching a record of $36.6 billion.
- Earnings per share rose by 4% to $2.45, with an adjusted earnings per share up by 10% to $2.75.
Westports Holdings (WPRTS MK): A Steady Pricing Growth Led Story
- Westports Holdings (WPRTS MK), along with MMC Port Holdings Berhad (2436494D MK), are the two largest container port terminal operators in Malaysia.
- With a stranglehold on Port Klang, where it holds a 75% market share, the company will be the beneficiary of significant tariff hikes of 30% over the next 1.5 years.
- Despite the recent rally, the stock trades at 18x/15x FY25e/26e earnings and a dividend yield of 4%. Following the pricing-led growth, the company is embarking on an expansion plan post-2028.
TransUnion: Initiation Of Coverage- Strategic Global Expansion to Potentially Accelerate Its Growth Trajectory Outside North America!
- TransUnion’s second-quarter 2025 earnings reflected notable strength in performance, with the company exceeding its financial guidance across key metrics.
- The revenue demonstrated significant resilience, increasing by 9% on an organic constant currency basis.
- The U.S. Markets segment was particularly strong, achieving 10% growth, buoyed by an impressive 17% increase in Financial Services revenue.
BQE: Contract Extended for Emergency Water Treatment
- What you need to know: • BQE’s contract at the Eagle Gold Mine has been extended to October 2025, with operations expected to wind down in Q3.
- • BQE discharged 600,000m3 of treated water at the mine under emergency response after Victoria Gold’s heap leach failure.
- • The Company’s success reinforces its technical leadership and strengthens its reputation as a trusted partner for complex water treatment.
Lucror Analytics – Morning Views Asia
- In today’s Morning Views publication we comment on developments of the following high yield issuers: Adani Ports, AAC Technologies, Tata Motors
- UST yields rose yesterday, as the market priced in lower rate cuts for 2025, following the strong Q2 GDP numbers and after Fed Chair Jerome Powell said no decision has been made on a September rate cut. The UST curve bear flattened, with the yield on the 2Y UST rising 7 bps to 3.94%, while that on the 10Y UST was up 5 bps at 4.37%.
- Equity movements were mixed, as tech stocks were supported by solid earnings from Microsoft and Meta Platforms.
HNI Corporation: 2Q25 Adj. EPS of $1.11 Benefited from Margin Expansion, Growth
- 2Q25 adjusted EPS of $1.11 came in significantly ahead of our estimate of $0.87 on solid growth in both segments despite ongoing macro headwinds and continued margin expansion even as tariff headwinds and investment in growth made themselves felt.
- HNI posted growth in both segments (WF and RBP), with the growth in contract within WF particularly notable.
- WF organic revenue was up 8%. While some of the 2Q gains were attributable to demand pull-forward in the face of tariffs (about $18 million or $0.10-0.12 in EPS), the 15% gains in contract and the positive leading indicators speak to a general uptick in demand within contract that we have seen over the past several quarters as return-to-office continues to gain traction.
Dover Corporation Is Assembling $400M in M&A Firepower—Is a Portfolio Shakeup Coming?
- Dover Corporation’s second quarter 2025 performance showcased both commendable achievements and areas presenting challenges.
- On the positive side, the company demonstrated robust operational efficiency, which was marked by its impressive margin performance.
- The adjusted segment EBITDA margins exceeded 25%, reflecting the success of prior cost actions and a favorable product mix.
Meiwa Corp (8103 JP): Q1 FY03/26 flash update
- Revenue decreased 2.3% YoY, with operating profit up 84.7% YoY; gross profit increased 25.2% YoY.
- Meiwa projects FY03/26 revenue of JPY160.0bn (+2.1% YoY), with declines in operating and recurring profits.
- Dividend for FY03/26 expected to decrease to JPY38.00 per share, following a JPY5 increase in FY03/25.
Mitsubishi Kakoki Kaisha (6331 JP): Q1 FY03/26 flash update
- The company reported a 32.4% YoY increase in revenue to JPY15.8bn and a 31.1% YoY rise in operating profit.
- The Engineering segment saw a 31.8% YoY revenue increase and a significant 1,842.9% rise in operating profit.
- The GX segment expanded revenue by 69.3% YoY but incurred an operating loss of JPY119mn compared to a prior profit.
DNOW, Inc: MRC Merger Creates Premier Energy & Industrial Solutions Provider
- The proposed merger between DNOW and MRC Global would create a premier energy and industrial solutions provider with a strong North American presence along with expanded global reach.
- DNOW will enjoy significantly expanded scale across a diverse set of industries positioning it to pursue global opportunities where it can leverage its supply chain network to serve vendors and customers.
- DNOW will continue to be led by David Cherechinsky, its current President and Chief Executive officer, and Mark Johnson, its current Senior Vice President and Chief Financial Officer.
💡 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
