Daily Brief United States: Micron Technology, Pepsico Inc, PetroTal, Steelcase Inc Cl A, WK Kellogg , Blackline Inc, Xponential Fitness , Guess? Inc and more

• Q224 revenues of $5.8 billion, up 23% QoQ and up 58% YoY. It also well above the high end of the guided range of $5.5 billion.
• Net income turned positive & amounted to $476 million. This compares to a loss of $1 billion in Q124
• Forecasting current quarter revenues of $6.6 billion & gross margin of 26.5% at their respective midpoints

• PepsiCo is a global company with significant presence in both snacks and beverages, generating around $80 billion in revenue
• Despite the impact of COVID-19 on its business, PepsiCo has maintained strong performance
• The company’s Beverages North America segment contributes a third of sales but only 22% of EBIT, while Frito Lay North America accounts for 25% of sales but 50% of EBIT

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

• FY23 production of 14,248 bbl/d had been reported previously and the YE23 cash position of US$105 mm (including ~US$15 mm of restricted cash) is very close to previous indications.
• PetroTal is re-iterating its FY24 production guidance of ~17 mbbl/d with US$134 mm capex.
• Production currently trends ahead of guidance with 24,453 bbl/d in January and 17,411 bbl/d in February.

• After the close Wednesday, Steelcase reported 4QFY24 non-GAAP adjusted EPS of $0.23, ahead of our $0.22 estimate and consensus of $0.21.
• 4QFY24 global revenue was $775 million, modestly missing our estimate by ~$9 million.
• FY24 non-GAAP adjusted EPS was $0.93, up from $0.56 in FY23, and revenue was $3.16 billion, down 2.6%.

• WK Kellogg is a consumer staple company with low risk and attractive valuation
• Recent spin-off has unlocked self-help opportunities for potential upside for patient shareholders
• Projections show EBITDA margin growth, significant upside in sales growth and free cash flow, with focus on cereal brands and achieving mid-teens EBITDA margins by end of 2026, projected 100-250% total upside over three years.

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

• BlackLine is a company that sells accounting software and Director Mika Yamamoto sold 35% of her holdings in November 2023 at $54/share.
• The sale was below previous highs, raising questions about the company’s prospects in the accounting software market.
• BlackLine’s niche position in bridging the gap between internal systems and third-party software streamlines manual processes for controllers, and Yamamoto’s insider behavior adds an interesting component to the company’s outlook.

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

• Xponential Fitness has shown strong financial performance post IPO, with adjusted EBITDA increasing significantly
• The company faced a coordinated short attack leading to a major drop in share price in 2023
• Shares are currently undervalued with strong growth potential and valuable assets, making it an attractive investment opportunity

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

• We are reiterating our Buy rating on GES, raising our price target to $37 (from $32.50) and rolling out FY26 projections after Guess?
• ended FY24 with a strong 4Q which easily beat both top and bottom line Street expectations and announced a $2.25 per share special dividend.
• Further, initial FY25 projections, which incorporate the acquisition of Rag & Bone, handily beat Street top line projections and bracket bottom line expectations, even as Guess?