In today’s briefing:
- Alibaba Potential IPOs – Part 2 – An Early Look at Cainiao, US$10bn+
- Dmall Pre-IPO – The Positives – Ambitions of Aiding the Retail Digitization Journey for Retailers
- Freeport-McMoRan Inc: Is The Volumes Expectation For 2023 Too High? – Key Drivers
- Cummins Inc.: What Is Their Core Business Strategy? – Key Drivers
- DuPont de Nemours Inc.: Acquisition Of Spectrum Plastics & Other Key Drivers
- ZoomInfo Technologies Inc.: Investments In Improved Customer Experience – Key Drivers
Alibaba Potential IPOs – Part 2 – An Early Look at Cainiao, US$10bn+
- On 28th Mar 2023, Alibaba (ADR) (BABA US) announced that it would adopt a new organizational and governance structure, splitting into six major business groups and other investments.
- Alibaba also stated that each of the business groups would be set up as an independent entity with its own board and the groups will eventually seek to list.
- In our previous note, we highlighted which division could list. In this note, we will look at Cainiao.
Dmall Pre-IPO – The Positives – Ambitions of Aiding the Retail Digitization Journey for Retailers
- Dmall Inc (1751691D CH) is looking to raise around US$200m in its upcoming Hong Kong IPO.
- Dmall provides cloud-based, end-to-end SaaS platform purpose-built for the Chinese retail industry.
- In this note, we will talk about the positive aspects of the deal.
Freeport-McMoRan Inc: Is The Volumes Expectation For 2023 Too High? – Key Drivers
- It was a challenging first quarter for Freeport-McMoRan due to disruptions caused by extreme weather conditions and labor shortages.
- The company managed an all-around beat and achieved essentially in-line consolidated unit net cash costs, averaging $1.76 per pound despite lower-than-expected volumes.
- Freeport-McMoRan ended the quarter with $1.3 billion in net debt, and its balance sheet, liquidity, and financial flexibility are in great shape.
Cummins Inc.: What Is Their Core Business Strategy? – Key Drivers
- Cummins had a successful first quarter, marked by a 12% increase in organic revenue growth, as well as higher-than-anticipated quarterly earnings before interest, taxes, depreciation, and amortization, net income, and earnings per share.
- The higher EBITDA percentage was mainly driven by higher volumes and improved pricing, despite increased investment in new products and capabilities.
- Operating cash flow was an inflow of $495 million, $331 million higher than the first quarter of last year, essentially due to higher earnings.
DuPont de Nemours Inc.: Acquisition Of Spectrum Plastics & Other Key Drivers
- DuPont de Nemours had a challenging 2023 first quarter as organic revenue declined by 3%, although there was broad demand strength in areas including water, automotive, aerospace, and healthcare.
- DuPont de Nemours recently announced a $1.75 billion definitive agreement to acquire Spectrum, a leading manufacturer of critical components and devices for medical end markets.
- We give DuPont de Nemours, Inc. a ‘Hold’ rating with a revised target price.
ZoomInfo Technologies Inc.: Investments In Improved Customer Experience – Key Drivers
- ZoomInfo Technologies achieved better-than-expected revenues and profitability in Q1 with an adjusted operating income margin of 40% and more than $121 million in unleveraged free cash flow.
- Moreover, ZoomInfo is investing resources in products to develop engaging customer experiences, enhance data leadership, and go upmarket.
- 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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