Category

Daily Briefs

Oct 19
0

Daily Brief South Korea: K Bank, Korea Zinc, Doosan Bobcat Inc and more

By | Daily Briefs, South Korea

In today’s briefing:

  • K-Bank’s IPO Cancellation: What Led to This Move and Plan for a Comeback
  • Need a Game Plan to Tackle Korea Zinc’s Buyback Tender with a 20% Proration Risk
  • Align Partners Goes Activist on Doosan Bobcat

K-Bank’s IPO Cancellation: What Led to This Move and Plan for a Comeback

By Sanghyun Park

  • The institutional demand forecasts were much worse than expected, leading to the company’s blunt admission in the latest filing that the book-building flopped, prompting them to cancel the IPO.
  • Bankers NH and KB suggested an offering price below 8,500 KRW, but pre-IPO backers like Bain Capital and MBK strongly opposed, unhappy with shrinking proceeds, pushing for cancellation.
  • K-Bank plans to regroup and adjust the heavy 50% secondary share portion to retry the IPO in six months before their prelim review window expires.

Need a Game Plan to Tackle Korea Zinc’s Buyback Tender with a 20% Proration Risk

By Sanghyun Park

  • NPS is now viewing their voting rights on Korea Zinc purely from a returns angle, shifting from earlier expectations of siding with Choi due to political pressure.
  • We need a tendering strategy for a 20% proration risk, focusing on when MBK will buy that extra 3.7% stake to cut losses on untendered shares.
  • MBK will aim to buy leftover shares cheaply. Their approach depends on the progress of Choi and Trafigura’s talks

Align Partners Goes Activist on Doosan Bobcat

By Douglas Kim

  • On 18 October, a local activist fund Align Partners Asset Management started its “corporate activism” on Doosan Bobcat Inc (241560 KS).
  • Align Partners sent a shareholder proposal letter requesting a significant increase in the shareholder return rate, including dividends and selling off non-core assets. 
  • We believe that Align Partners’ corporate activism on Doosan Bobcat is likely to have a positive impact on Doosan Bobcat’s share price.

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Oct 19
0

Daily Brief Singapore: SGX Rubber Future TSR20 and more

By | Daily Briefs, Singapore

In today’s briefing:

  • Market Commentary Snapshot: Delaying EUDR Likely To Bring Supply Glut Back

Market Commentary Snapshot: Delaying EUDR Likely To Bring Supply Glut Back

By Arusha Das

  • Requests for retraction in contracts by buyers 
  • Oversupply of spot cargoes feeds pessimistic expectations

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Oct 19
0

Daily Brief Indonesia: Lippo Karawaci, SGX Rubber Future TSR20, Criterium Energy and more

By | Daily Briefs, Indonesia

In today’s briefing:

  • Morning Views Asia: Lippo Karawaci
  • Market Commentary Snapshot: Delaying EUDR Likely To Bring Supply Glut Back
  • Weekly Wrap – 18 Oct 2024
  • Criterium Energy Ltd (TSX-V: CEQ): Encouraging drilling results. Decreasing opex

Morning Views Asia: Lippo Karawaci

By Leonard Law, CFA

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.

Market Commentary Snapshot: Delaying EUDR Likely To Bring Supply Glut Back

By Arusha Das

  • Requests for retraction in contracts by buyers 
  • Oversupply of spot cargoes feeds pessimistic expectations

Weekly Wrap – 18 Oct 2024

By Felix Fischer

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.

In this Insight:

  1. Vedanta Resources
  2. Longfor Properties
  3. Anton Oilfield
  4. Adani Green Energy
  5. Reliance Industries

and more…

Criterium Energy Ltd (TSX-V: CEQ): Encouraging drilling results. Decreasing opex

By Auctus Advisors

  • • Production to date in October is 950 bbl/d, the same level as reported on 24 September.
  • • The MGH-43 well has encountered 41 m of prospective gross sand intervals with good to excellent oil shows in the main TAF target that will now be perforated.
  • Due to unstable hole conditions in MGH-43, Criterium was unable to conduct pressure testing and resistivity calculations on the zones of interest and therefore could not determine the estimated productivity rates.

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Oct 19
0

Daily Brief United States: Crude Oil, Dana , Tegna Inc, Micron Technology, Five9 Inc, CCC Intelligent Solutions Hold, Constellation Energy , Energy Transfer LP, Expedia Group, Inc., DoubleVerify and more

By | Daily Briefs, United States

In today’s briefing:

  • [ETP 2024/42] WTI Falls as Supply Disruption Fears Subside, Nat-Gas Slides on Weaker Demand Outlook
  • Dana Inc. – The Latest Acquisition Target Heating Up Wall Street!
  • TEGNA Inc.: Leveraging Advanced Advertising Platforms & Focus on Premion! – Major Drivers
  • Micron Technology Inc.: Tackling The Shifts in Customer Demand & Evolving Market Dynamics! – Major Drivers
  • Five9 Inc.: An Insight Into Its Competitive Advantage & Go-To-Market Strategy! – Major Drivers
  • CCC Intelligent Solutions Holdings: Expansion into Emerging Market Solutions & Launch of Payroll Solution Could Up Their Game! – Major Drivers
  • Constellation Brands Inc.: Strategic Focus On High-End & Diversified Portfolio Can Catapult Their Future Growth? – Major Drivers
  • Energy Transfer LP: Expansion of Energy Transfer’s Export Terminals & Other Major Developments! – Key Drivers
  • Uber Eyeing Expedia! Here’s Why That Could Be a Game-Changing Move
  • DoubleVerify Holdings Inc.: Expanded Cross-Platform Measurement Capabilities & Other Major Drivers

[ETP 2024/42] WTI Falls as Supply Disruption Fears Subside, Nat-Gas Slides on Weaker Demand Outlook

By Suhas Reddy

  • For the week ending 11/Oct, US crude inventories decreased by 2.2m barrels, diverging from expectations of a 1.8m barrel build. Additionally, gasoline and distillate stockpiles also declined more than anticipated.
  • US natural gas inventories rose 76 Bcf for the week ending 11/Oct, lower than analyst expectations of an 80 Bcf buildup. Inventories are 4.6% above the 5-year seasonal average.
  • Halliburton, Schlumberger, and Occidental’s target prices were cut. Notably, analysts kept their Buy ratings on Reliance despite its net profit falling by 4.8% YoY.

Dana Inc. – The Latest Acquisition Target Heating Up Wall Street!

By Baptista Research

  • In a notable development, Dana Incorporated (NYSE:DAN) has recently emerged as a potential acquisition target, sparking rumors across Wall Street.
  • The company’s stock rose by 0.5%, following reports of takeover interest as mentioned in a Betaville “uncooked” alert.
  • The timing of this speculation coincides with a strong earnings performance for Q2 2024, where Dana posted $2.7 billion in sales and a solid $244 million in adjusted EBITDA.

TEGNA Inc.: Leveraging Advanced Advertising Platforms & Focus on Premion! – Major Drivers

By Baptista Research

  • TEGNA Inc. reported their Q2 2024 financial results, reflecting a mix of challenges and opportunities which present a balanced view for potential investors.
  • In this earnings review, a detailed assessment of the company’s performance and strategic initiatives provides insights into its emerging trends and operational focus.
  • During the quarter, TEGNA noted a decline in total company revenue compared to the previous year, which primarily stemmed from decreases in subscriber counts and national advertising revenues.

Micron Technology Inc.: Tackling The Shifts in Customer Demand & Evolving Market Dynamics! – Major Drivers

By Baptista Research

  • Micron Technology’s fiscal fourth quarter 2024 earnings call underscores a period of noteworthy developments and strategic pivots, reflecting both positives and challenges that face the company.
  • The call, led by Sumit Sadana and other executives, provided insights into various aspects including demand trends, inventory levels, operational execution, and financial outlook which are critical for understanding Micron’s trajectory and market dynamics.
  • Baptista Research looks to evaluate the different factors that could influence the company’s price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

Five9 Inc.: An Insight Into Its Competitive Advantage & Go-To-Market Strategy! – Major Drivers

By Baptista Research

  • In the latest earnings discussion of Five9, Chairman and CEO Mike Burkland relayed a mixed set of results, presenting a blend of successes and challenges.
  • The company achieved an annual revenue run rate exceeding $1 billion, primarily driven by a 21% year-over-year growth in LTM Enterprise subscription revenue.
  • Alongside, the adjusted EBITDA margin improved sequentially to 17% of revenue, contributing robustly to a strong LTM operating cash flow of $126 million, which is 13% of revenue.

CCC Intelligent Solutions Holdings: Expansion into Emerging Market Solutions & Launch of Payroll Solution Could Up Their Game! – Major Drivers

By Baptista Research

  • CCC Intelligent Solutions Holdings, Inc. delivered a robust financial performance for the second quarter of fiscal year 2024, primarily driven by new business wins, contract renewals, and expansions.
  • The company reported a 10% year-over-year increase in total revenue, amounting to $233 million, which surpassed the guidance range.
  • Adjusted EBITDA also saw an 18% increase from the previous year, reaching $96 million, also exceeding expectations.

Constellation Brands Inc.: Strategic Focus On High-End & Diversified Portfolio Can Catapult Their Future Growth? – Major Drivers

By Baptista Research

  • Constellation Brands delivered mixed results in its Q2 Fiscal Year 2025 earnings, reflecting resilience amid a challenging macroeconomic environment.
  • The performance of the company’s segments varied, with strong growth in the Beer Business offset by headwinds in the Wine and Spirits division.
  • Starting on a positive note, Constellation Brands’ Beer Business continued its streak as a sector leader, demonstrating robust financial performance with net sales and operating income growing by nearly 6% and 13%, respectively.

Energy Transfer LP: Expansion of Energy Transfer’s Export Terminals & Other Major Developments! – Key Drivers

By Baptista Research

  • Energy Transfer’s Q2 2024 earnings report reveals a company navigating complex operational landscapes with a mixture of robust results and strategic adjustments, providing a broad perspective on its strengths and challenges as it plans forward.
  • The company reported a noticeable rise in their financial and operational metrics indicating vital signs of growth.
  • However, certain segments experienced downturns that could suggest areas requiring attention for future stability and improvement.

Uber Eyeing Expedia! Here’s Why That Could Be a Game-Changing Move

By Baptista Research

  • Uber’s potential acquisition of Expedia has sent shockwaves across the travel and tech industries.
  • The ride-hailing giant has reportedly explored the idea of purchasing the $20 billion U.S. travel booking platform, marking a dramatic shift in its strategy to diversify beyond ride-hailing and food delivery.
  • Speculation suggests that Uber is looking to expand its “super app” ambitions—something akin to the multipurpose apps seen in Chinese tech ecosystems like WeChat.

DoubleVerify Holdings Inc.: Expanded Cross-Platform Measurement Capabilities & Other Major Drivers

By Baptista Research

  • DoubleVerify, a leader in media quality and performance solutions, had a pivotal second quarter in 2024, managing to reaccelerate their revenue growth trajectory, powered by a strong push in social and CTV measurement and ongoing growth in their supply-side platform business, notably driven by the expansive retail media sector.
  • Baptista Research looks to evaluate the different factors that could influence the company’s price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.
  • In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

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Oct 19
0

Daily Brief China: China Traditional Chinese Medicine, TI Fluid Systems , Lippo Karawaci and more

By | China, Daily Briefs

In today’s briefing:

  • China Traditional Chinese Medicine (570 HK): Disaster as Offer Lapses, Potential Deal Break Price
  • ABC/TI Fluid Systems: 10% Gross Spread on a Highly Likely Deal
  • Weekly Wrap – 18 Oct 2024

China Traditional Chinese Medicine (570 HK): Disaster as Offer Lapses, Potential Deal Break Price

By Arun George

  • Shockingly, the Sinopharm-led consortium’s offer for China Traditional Chinese Medicine (570 HK) has lapsed as the precondition long stop date has not been extended.
  • This deal break caught many, including me, off guard. There are lessons to be learnt and questions to be asked. 
  • Shareholders will have a bruising Monday. Our analysis suggests a deal break price of around HK$3.44, a 10% downside to the last close.

ABC/TI Fluid Systems: 10% Gross Spread on a Highly Likely Deal

By Jesus Rodriguez Aguilar

  • TI Fluid Systems (TIFS LN) is trading at 10% gross spread to ABC (Apollo)’s Proposal, which the Board of TIFS would be minded to recommend if made firm.
  • Although TIFS has made notable strategic progress recently, and maintained margins despite tough conditions over the last years, the short-term car picture has gotten progressively worse.
  • 200p implies 4.6x EV/NTM EBITDA versus global auto suppliers trading on a median of 4.4x and represents a good-value exit. I believe the deal will complete. Long.

Weekly Wrap – 18 Oct 2024

By Felix Fischer

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.

In this Insight:

  1. Vedanta Resources
  2. Longfor Properties
  3. Anton Oilfield
  4. Adani Green Energy
  5. Reliance Industries

and more…

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  • ✓ Events & Webinars
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Oct 19
0

Daily Brief Japan: Alinco Inc and more

By | Daily Briefs, Japan

In today’s briefing:

  • Alinco Inc (5933 JP): 1H FY03/25 flash update

Alinco Inc (5933 JP): 1H FY03/25 flash update

By Shared Research

  • In 1H FY03/25, revenue increased 5.4% YoY to JPY30.8bn, while operating profit declined 3.9% YoY to JPY1.3bn.
  • Segment profit for scaffolding equipment rentals grew 0.4% YoY to JPY1.3bn, with revenue up 15.1% YoY to JPY12.5bn.
  • Electronic Equipment segment revenue fell 10.0% YoY to JPY2.4bn, resulting in a segment loss of JPY326mn.

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Oct 19
0

Daily Brief India: Adani Enterprises, Lippo Karawaci and more

By | Daily Briefs, India

In today’s briefing:

  • Thematic Report : Investment Opportunities in Indian Markets Led by Promoter Buying
  • Weekly Wrap – 18 Oct 2024

Thematic Report : Investment Opportunities in Indian Markets Led by Promoter Buying

By Nimish Maheshwari

  • In the overheated Indian markets where selling spree by promoters is going at record pace.
  • We identified certain interesting companies where promoters are buying giving confidence in their business
  • We further delve into the thesis and key triggers for these companies

Weekly Wrap – 18 Oct 2024

By Felix Fischer

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.

In this Insight:

  1. Vedanta Resources
  2. Longfor Properties
  3. Anton Oilfield
  4. Adani Green Energy
  5. Reliance Industries

and more…

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Oct 19
0

Most Read: Seven & I Holdings, Tower Ltd, China Traditional Chinese Medicine, K Bank, Korea Zinc, Adani Enterprises, Hotel Property Investments and more

By | Daily Briefs, Most Read

In today’s briefing:

  • China TCM (570.HK) Privatization Update – The Long Stop Date to Extend or Not?
  • TCM (570 HK): “Uncertain” To Spook Shares
  • Couche-Tard Execs in Tokyo, “Hoping” For Meetings But Really There To Hold a Press Conference
  • S&P/NZX 50 Index Rebalance: Tower (TWR) Replaces Arvida (ARV)
  • China Traditional Chinese Medicine (570 HK): Disaster as Offer Lapses, Potential Deal Break Price
  • K-Bank’s IPO Cancellation: What Led to This Move and Plan for a Comeback
  • Korea Zinc’s 2.4% Treasury Shares – Devil Is In the Legal Loophole
  • Thematic Report : Investment Opportunities in Indian Markets Led by Promoter Buying
  • Charter Hall Bumps With Final HPI Bid
  • Need a Game Plan to Tackle Korea Zinc’s Buyback Tender with a 20% Proration Risk

China TCM (570.HK) Privatization Update – The Long Stop Date to Extend or Not?

By Xinyao (Criss) Wang

  • Investors are concerned the Long Stop Date may be extended.But the style of SOEs is rigorous, which means CNPGC has anticipated the potential delays and reserved more time in advance. 
  • Although CNPGC can extend Long Stop Date, this indicates CNPGC fails to complete the set work in scheduled time, which is equivalent to admitting its previous work arrangement was “inappropriate”.
  • If there’re unexpected circumstances, one possible scenario is privatization would be completed before the Chinese New Year.Because entering 2025, integrating China TCM and Taiji will be the focus of CNPGC.

TCM (570 HK): “Uncertain” To Spook Shares

By David Blennerhassett

  • China Traditional Chinese Medicine (570 HK) (TCM) will fall today. Perhaps a lot.
  • With two days left on the clock to secure the pre-conditions (18th October), the Offeror said “it remains uncertain” whether it can secure an extension from the investor group.
  • Such wording could be viewed as boilerplate SFC legalise. I would argue the use of “uncertain” is superfluous, unhelpful, and for investors, downright worrying. 

Couche-Tard Execs in Tokyo, “Hoping” For Meetings But Really There To Hold a Press Conference

By Travis Lundy

  • Alimentation Couche-Tard (ATD CN)‘s CEO, former CEO, CFO, and founder were in Tokyo today giving a press conference about their trip and designs on Seven & I Holdings (3382 JP). 
  • There was some passive-aggressive behaviour. Their bid was better than 7&i’s plan. They said it was a high price. They said they wanted to meet management, the ITOs, the government. 
  • None of that will win the hearts and minds of the Special Committee. 

S&P/NZX 50 Index Rebalance: Tower (TWR) Replaces Arvida (ARV)

By Brian Freitas

  • Arvida (ARV NZ) will be deleted from the S&P/NZX 50 Index following its acquisition by Stonepeak Alps BidCo. Tower Ltd (TWR NZ) will be added to the index.
  • Passive NZX50 Index trackers will need to buy nearly 18m shares of Tower Ltd (TWR NZ) – that is over 26 days of ADV.
  • There has been a lot of positioning in Tower Ltd (TWR NZ) since Stonepeak’s offer for Arvida (ARV NZ). There should be enough supply for the passive trackers. 

China Traditional Chinese Medicine (570 HK): Disaster as Offer Lapses, Potential Deal Break Price

By Arun George

  • Shockingly, the Sinopharm-led consortium’s offer for China Traditional Chinese Medicine (570 HK) has lapsed as the precondition long stop date has not been extended.
  • This deal break caught many, including me, off guard. There are lessons to be learnt and questions to be asked. 
  • Shareholders will have a bruising Monday. Our analysis suggests a deal break price of around HK$3.44, a 10% downside to the last close.

K-Bank’s IPO Cancellation: What Led to This Move and Plan for a Comeback

By Sanghyun Park

  • The institutional demand forecasts were much worse than expected, leading to the company’s blunt admission in the latest filing that the book-building flopped, prompting them to cancel the IPO.
  • Bankers NH and KB suggested an offering price below 8,500 KRW, but pre-IPO backers like Bain Capital and MBK strongly opposed, unhappy with shrinking proceeds, pushing for cancellation.
  • K-Bank plans to regroup and adjust the heavy 50% secondary share portion to retry the IPO in six months before their prelim review window expires.

Korea Zinc’s 2.4% Treasury Shares – Devil Is In the Legal Loophole

By Douglas Kim

  • Devil is in the legal loophole. Issuing treasury shares to employees as bonuses is an exception that is not bound by the condition of ‘6 months after treasury shares acquisition.
  • It would be nearly impossible for Korea Zinc to sell 2.4% of its treasury stock to an external friendly force and transform it into a friendly stake by February 2025.
  • Although MBK/Young Poong Alliance has the advantage right now in this M&A battle for Korea Zinc, it is by no means over.

Thematic Report : Investment Opportunities in Indian Markets Led by Promoter Buying

By Nimish Maheshwari

  • In the overheated Indian markets where selling spree by promoters is going at record pace.
  • We identified certain interesting companies where promoters are buying giving confidence in their business
  • We further delve into the thesis and key triggers for these companies

Charter Hall Bumps With Final HPI Bid

By David Blennerhassett

  • Back on the 9th September, pub play Hotel Property Investments (HPI AU) announced – and summarily rejected – a A$3.65/share cash Offer from Charter Hall Retail Reit (CQR AU).
  • Charter Hall has now increased terms to A$3.85/share (best & final), a 17.7% premium to undisturbed. The Offer remains conditional on an 50.1% minimum acceptance condition. Charter Hall holds 14.7%. 
  • HPI’s reported response? “While Charter Hall’s improved offer provides an attractive exit for shareholders, we remain committed to evaluating all options that deliver the best long-term value.“

Need a Game Plan to Tackle Korea Zinc’s Buyback Tender with a 20% Proration Risk

By Sanghyun Park

  • NPS is now viewing their voting rights on Korea Zinc purely from a returns angle, shifting from earlier expectations of siding with Choi due to political pressure.
  • We need a tendering strategy for a 20% proration risk, focusing on when MBK will buy that extra 3.7% stake to cut losses on untendered shares.
  • MBK will aim to buy leftover shares cheaply. Their approach depends on the progress of Choi and Trafigura’s talks

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Oct 19
0

Daily Brief Industrials: Adani Enterprises, Doosan Bobcat Inc, Alinco Inc, FuelCell Energy , Kbr Inc and more

By | Daily Briefs, Industrials

In today’s briefing:

  • Thematic Report : Investment Opportunities in Indian Markets Led by Promoter Buying
  • Align Partners Goes Activist on Doosan Bobcat
  • Alinco Inc (5933 JP): 1H FY03/25 flash update
  • FuelCell Energy Inc.: Expansion in South Korean Market
  • KBR Inc.: Can It Capitalize On Government & Defense Sector Opportunities? – Major Drivers

Thematic Report : Investment Opportunities in Indian Markets Led by Promoter Buying

By Nimish Maheshwari

  • In the overheated Indian markets where selling spree by promoters is going at record pace.
  • We identified certain interesting companies where promoters are buying giving confidence in their business
  • We further delve into the thesis and key triggers for these companies

Align Partners Goes Activist on Doosan Bobcat

By Douglas Kim

  • On 18 October, a local activist fund Align Partners Asset Management started its “corporate activism” on Doosan Bobcat Inc (241560 KS).
  • Align Partners sent a shareholder proposal letter requesting a significant increase in the shareholder return rate, including dividends and selling off non-core assets. 
  • We believe that Align Partners’ corporate activism on Doosan Bobcat is likely to have a positive impact on Doosan Bobcat’s share price.

Alinco Inc (5933 JP): 1H FY03/25 flash update

By Shared Research

  • In 1H FY03/25, revenue increased 5.4% YoY to JPY30.8bn, while operating profit declined 3.9% YoY to JPY1.3bn.
  • Segment profit for scaffolding equipment rentals grew 0.4% YoY to JPY1.3bn, with revenue up 15.1% YoY to JPY12.5bn.
  • Electronic Equipment segment revenue fell 10.0% YoY to JPY2.4bn, resulting in a segment loss of JPY326mn.

FuelCell Energy Inc.: Expansion in South Korean Market

By Baptista Research

  • FuelCell Energy, in its third quarter of fiscal year 2024, demonstrated a mixed financial performance amid evolving market conditions and significant strategic initiatives aimed at boosting its long-term growth trajectory.
  • The company reported quarterly revenues of $23.7 million, a slight decrease from the $25.5 million recorded in the corresponding quarter of the previous year.
  • This decline primarily resulted from a lack of module replacements in the current period, which had buoyed revenue in the prior year.

KBR Inc.: Can It Capitalize On Government & Defense Sector Opportunities? – Major Drivers

By Baptista Research

  • KBR’s Second Quarter Fiscal 2024 Earnings detailed the company’s financial and operational milestones for the period, along with future projections and strategic plans.
  • One of the notable positives highlighted includes the increase in revenue, up by 6% year-on-year, which reflects a solid operational performance across all the business units.
  • The adjusted EBITDA also saw an impressive rise by 13%, illustrating effectiveness in managing profitability.

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Oct 19
0

Daily Brief Utilities: Constellation Energy and more

By | Daily Briefs, Utilities Sector

In today’s briefing:

  • Constellation Brands Inc.: Strategic Focus On High-End & Diversified Portfolio Can Catapult Their Future Growth? – Major Drivers

Constellation Brands Inc.: Strategic Focus On High-End & Diversified Portfolio Can Catapult Their Future Growth? – Major Drivers

By Baptista Research

  • Constellation Brands delivered mixed results in its Q2 Fiscal Year 2025 earnings, reflecting resilience amid a challenging macroeconomic environment.
  • The performance of the company’s segments varied, with strong growth in the Beer Business offset by headwinds in the Wine and Spirits division.
  • Starting on a positive note, Constellation Brands’ Beer Business continued its streak as a sector leader, demonstrating robust financial performance with net sales and operating income growing by nearly 6% and 13%, respectively.

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