In today’s briefing:
- Initial Thoughts on the Ecopro Materials IPO
- Salesforce Inc.: Major Drivers
- Autodesk Inc.: Launch of Moxion Rooms & Other Drivers
- HEICO Corporation: Precise Engineering Acquisition & Other Drivers
- Workday Inc.: Major Drivers
Initial Thoughts on the Ecopro Materials IPO
- Ecopro Materials, an affiliate of Ecopro, is getting ready to complete its IPO in 2H 2023. Ecopro Co has a 52.8% stake in Ecopro Materials.
- Ecopro Materials’ core products are lithium cell core materials called precursors, which are used as part of the rechargeable batteries.
- The expected market value of Ecopro Materials is about 3 trillion won to 4 trillion won (US$2.3 billion to US$3.0 billion).
Salesforce Inc.: Major Drivers
- Salesforce had another strong quarter and delivered an all-around beat.
- Besides, the Data cloud became their most crucial cloud, enhancing each Salesforce cloud and enhancing the automation, intelligence, and real-time of every aspect of their Customer 360.
- With native integration of Tableau and Data Cloud, they recently released Tableau plus Data Cloud.
Autodesk Inc.: Launch of Moxion Rooms & Other Drivers
- Despite pandemic, geopolitical, policy, and macroeconomic headwinds, Autodesk gave a strong financial performance in the quarter and delivered an all-around beat.
- The product subscription renewal rate and its net revenue retention rate remain strong.
- The company continues to make excellent progress in its strategic initiatives, which drives accelerating the adoption of the Autodesk Construction Cloud.
HEICO Corporation: Precise Engineering Acquisition & Other Drivers
- Heico delivered a mixed quarter with a decent organic growth in revenues that reflects higher demand for the bulk of its commercial aircraft products and services given the ongoing recovery in commercial air travel.
- Operating income for the Flight Support Group climbed by 60% to $83.6 million in the first quarter of fiscal 2023.
- This acquisition is anticipated to drive the company’s growth prospects.
Workday Inc.: Major Drivers
- Workday produced strong Q4 results and delivered an all-around beat with a decent performance in key operating measures and a 22% increase in subscription revenue for the quarter and the entire fiscal year.
- While Talent Optimization is Workday’s fastest-growing SKU with an attach rate on new transactions of more than 85% in fiscal year 2023, approximately 50% of all active Workday HCM customers currently use Workday Skills Cloud.
- The company intends to boost margin expansion in fiscal 2024 while returning to a 20% plus subscription revenue growth when the environment recovers.
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