In today’s briefing:
- Snow Peak (7816) – Nikkei Says Bain to Launch ¥50bn MBO
- Weekly Deals Digest (18 Feb) – Toei, Outsourcing, YSK, Altium, Ansarada, China TCM, Vinda
- Lear Corporation: These 7 Drivers Are Pushing The Company Forward In 2024! – Financial Forecasts
- Yum! Brands Inc: Bold Restaurant Development Growth & Other Major Drivers
- CVS Health Corporation: Integration Of Acquired Businesses
- O’Reilly Automotive: Expansion into Canada With Groupe Del Vasto Acquisition & Other Major Drivers
- Philip Morris International: Acquisition of Swedish Match
- Omnicom Group: A Strong Positioning with Transformation in the Client Landscape! – Major Drivers
- The Walt Disney Company: ESPN’s Digital Transformation Is A Huge Strategic Pivot – Other Major Drivers
- Expedia Group: Boosting European Travel with New Partnerships! – Major Drivers
Snow Peak (7816) – Nikkei Says Bain to Launch ¥50bn MBO
- Apparently, MergerMarket had an article out Friday saying once-higher-flying outdoor/sporting goods retailer Snow Peak Inc (7816 JP) was considering going private. The company said(J) late they were considering multiple options.
- A Nikkei article (J) Saturday said it was Bain would launch an MBO/Tender Offer as early as this week paying ¥50bn.
- This will probably go limit up Monday. I’d expect an announcement post-close Monday. Long-suffering long-only investors who have already sold will be disappointed. Those who were late to sell? Happy.
Weekly Deals Digest (18 Feb) – Toei, Outsourcing, YSK, Altium, Ansarada, China TCM, Vinda
- A weekly summary of key developments across ECM and Event-Driven names tracked by us across Hong Kong, Australia, New Zealand, Singapore, Japan, Indonesia, Malaysia, Thailand, Korea, India and Chinese ADRs.
- ECM developments: Toei Animation (4816 JP)‘s US$550 Million secondary offering.
- Event-Driven developments: Outsourcing Inc (2427 JP), Altium Ltd (ALU AU), Ansarada Group Ltd (AND AU), China Traditional Chinese Medicine (570 HK), Vinda International (3331 HK).
Lear Corporation: These 7 Drivers Are Pushing The Company Forward In 2024! – Financial Forecasts
- Lear Corporation achieved record revenue in 2023, reaching $23.5 billion, a 12% increase from 2022.
- The significant growth in core operating earnings by 29% to $1.1 billion and the 38% increase in adjusted earnings per share to $12.02 highlight the company’s strong financial performance.
- Additionally, its operating cash flow improved by 22% to over $1.2 billion, and free cash flow conversion exceeded the target of 80%.
Yum! Brands Inc: Bold Restaurant Development Growth & Other Major Drivers
- Yum!
- Brands delivered impressive performances across its various business units, despite geopolitical tensions and socio-economic hurdles worldwide.
- The company crossed the $60 billion system sales threshold and surpassed all aspects of its long-term growth algorithm, setting an industry benchmark for the third consecutive year.
CVS Health Corporation: Integration Of Acquired Businesses
- Analyzing the latest earnings call transcript of CVS Health, it becomes evident that the company has managed to successfully navigate through a challenging environment and deliver on its financial commitments, underscoring the strength of its diversified business model.
- 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.
O’Reilly Automotive: Expansion into Canada With Groupe Del Vasto Acquisition & Other Major Drivers
- O’Reilly Automotive, Inc.
- achieved robust results in their fourth quarter and full-year 2023 results, displaying steadfast growth and capitalizing on industry trends.
- Third-quarter comparable store sales increase contributed to a 7.9% increase for the full year of 2023, which was at the high end of their revised guidance range provided in the last quarter’s earnings call.
Philip Morris International: Acquisition of Swedish Match
- Philip Morris International (PMI), the world’s largest tobacco company, delivered a strong operating performance in 2023, marking its third consecutive year of positive volumes and high single-digit organic top-line growth propelled by smoke-free products.
- The smoke-free products, particularly the IQOS business and ZYN, mitigated significant drag from traditional combustibles, underlining PMI’s strategic shift towards less harmful alternatives to traditional cigarettes.
- 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.
Omnicom Group: A Strong Positioning with Transformation in the Client Landscape! – Major Drivers
- Omnicom Group has achieved its 2023 goals despite a difficult macroeconomic environment, setting a solid foundation to enter 2024 from a position of strength.
- Notably, the company generated a free cash flow of approximately $1.9 billion in 2023 and returned $1.1 billion to shareholders through dividends and share repurchases.
- The M&A activity including the acquisition of Flywheel Digital, the largest one in Omnicom’s history, is especially promising for the future growth of the company.
The Walt Disney Company: ESPN’s Digital Transformation Is A Huge Strategic Pivot – Other Major Drivers
- The Walt Disney Company reported a strong performance in the first quarter of 2024.
- Disney’s CEO, Bob Iger, and the company’s CFO, Hugh Johnston, discussed their strategic focus on transitioning ESPN into a leading digital sports platform, developing streaming into a profit-generating business, reviving film studios, and enhancing growth in parks and experiences.
- 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.
Expedia Group: Boosting European Travel with New Partnerships! – Major Drivers
- Expedia Group’s Q4 2023 financial results revealed a solid year of performance with the company meeting its guidance despite significant changes and unpredictability.
- A key highlight was the strong revenue and EBITDA performance, with lodging business recording another record quarter in hotel gross bookings, growing 13% YoY. There was, however, some softness in gross bookings primarily driven by air, which was largely due to a reduction in average ticket prices.
- 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.
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