In today’s briefing:
- Carnival Corp: New Cruise Ship Additions & Other Drivers
- CarMax Inc: Major Drivers
- Philip Morris International: Expansion In The Philippines
- Sirius XM Holding: Project Amplify Update & Key Drivers
- Walgreens Boots Alliance: The CareCentrix Acquisition & Other Drivers
Carnival Corp: New Cruise Ship Additions & Other Drivers
- Carnival Corp has continued its string of disappointing results and the company failed to meet Wall Street expectations in terms of revenues as well as earnings in the last quarter as well.
- Given the resumption of the guest cruise operations, the company saw its adjusted EBITDA being positive for the first time.
- The revenue of the last quarter increased by around 80% in comparison to the previous quarter.
CarMax Inc: Major Drivers
- CarMax’s stock has been on a downward trajectory since the last quarterly result which had been a major disappointment.
- In response to consumer demand and the current environment, CarMax continued to offer a higher mix of lower-priced vehicles.
- We provide the stock of CarMax a ‘Hold’ rating with a revision in the target price.
Philip Morris International: Expansion In The Philippines
- Philip Morris continued to demonstrate a strong underlying momentum with positive volume that supported a better than expected top-line growth in the last quarter.
- The company delivered yet another all-around beat as net revenues of pro forma grew organically, which reflects continued strong growth in IQOS as well as the ongoing recovery of combustible business in various markets.
- Strong quarter pro forma user growth and continued excellent IQOS performance were very impressive.
Sirius XM Holding: Project Amplify Update & Key Drivers
- Sirius XM has had a volatile trajectory off late in terms of its stock price performance and with its results around the corner, another key factor that must be remembered is its history of below par earnings.
- The company is making progress in deploying its 360L platform, and it is making progress with various EV start-ups.
- We provide the stock of Sirius with a ‘Hold’ rating with a revision in the target price.
Walgreens Boots Alliance: The CareCentrix Acquisition & Other Drivers
- Walgreens’ stock had a disappointing performance during the course of the year but there as been some recovery after a decent result.
- In the quarter pharmacy performance benefitted from the improved trends from maintenance medications and seasonal scripts.
- We provide the stock of Walgreens with a ‘Hold’ rating and a revision in the target price.dditional workstreams for its consumer-facing digital assistant.
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