In today’s briefing:
- Japan Post Holdings (6178) Starts Its Bigly Buyback With a Sale from the MOF-Boffins
- Honeywell International Inc.: Can The SCADAfence Acquisition Strengthen Its Portfolio? – Key Drivers
- HNI Corporation – Revising Estimate to Correct Modeling Error(S)
- Carrier Global Corporation: 4 Major Catalysts Of Their Growth! – Financial Forecasts
- Norfolk Southern Corporation: The Strategy That Keeps Them Confident! – Key Drivers
- Northrop Grumman Corporation: 4 Factors Powering Their Revenue Surge! – Key Drivers
- Textron Inc.: Unmasking the Strategic Advancements Behind the Rising Aviation & Industrial Revenues! – Key Drivers
Japan Post Holdings (6178) Starts Its Bigly Buyback With a Sale from the MOF-Boffins
- In March 2023, Japan Post Holdings (6178 JP) sold ¥1.1trln of shares in Japan Post Bank (7182 JP), lowering its stake considerably, raising float. There will be a TOPIX upweight.
- In May, with earnings, they announced their intention to buy back ¥300bn of shares or up to 10% of shares out. Today, they announced the details. ¥300bn through March end.
- In a ¥300bn ToSTNeT-3 tomorrow, the govt will sell back ¥105.7bn. That leaves a residual worth examining. So we examine.
Honeywell International Inc.: Can The SCADAfence Acquisition Strengthen Its Portfolio? – Key Drivers
- Honeywell International delivered a mixed set of results for the quarter, with revenues well below Wall Street expectations but managed an earnings beat.
- The company’s organic sales increased year on year in the quarter, led by double-digit growth in commercial aerospace, process solutions, and UOP.
- We give Honeywell International a ‘Hold’ rating with a revised target price.
HNI Corporation – Revising Estimate to Correct Modeling Error(S)
We are revising our recent estimates for HNI to correct a significant error in our understanding of guidance for the contribution to revenue and earnings from the Kimball International (KII) acquisition.
We misunderstood the guidance for 2H revenue for KII to be in the range of $340-370 million.
That number applies to the full-year contribution, including $52 million already reported.
Carrier Global Corporation: 4 Major Catalysts Of Their Growth! – Financial Forecasts
- Carrier Global managed to surpass the revenue as well as the earnings expectations of analysts.
- Carrier Global achieved double-digit growth in light commercial and commercial HVAC and worldwide truck and trailer controls and aftermarkets.
- Growth in Fire & Security was broad-based, encompassing security, residential, commercial, and industrial fire.
Norfolk Southern Corporation: The Strategy That Keeps Them Confident! – Key Drivers
- Norfolk Southern delivered a disappointing set of results as the company was unable to meet the revenue and earnings expectations of Wall Street.
- Materials, Automotive shipping was strong owing to new lane offerings and a weak local crop in the Southeast.
- Despite increased export volumes, the mix of export steam and export metallurgical coal shifted negatively, and lower seaborne coal prices resulted in poorer revenue per unit.
Northrop Grumman Corporation: 4 Factors Powering Their Revenue Surge! – Key Drivers
- Northrop Grumman managed to exceed analyst expectations in terms of revenue as well as earnings.
- The company’s revenues increased in the second quarter, with each of its 4 business sectors making significant contributions.
- Global demand for their products is also increasing as their allies increase defense spending to combat emerging threats.
Textron Inc.: Unmasking the Strategic Advancements Behind the Rising Aviation & Industrial Revenues! – Key Drivers
- Textron delivered a positive result and managed an all-around beat in the last quarter.
- In Aviation, Textron delivered jets down from last year and commercial turboprops up from the last year.
- Also, this quarter Aviation delivered the foremost passenger-configured Cessna SkyCourier to Lana’I Air for the Hawaiian interisland routes.
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