In today’s briefing:
- Reorganization of the Doosan Group: Why Delist Doosan Bobcat (Jewel of Doosan Group)?
- Will Hesai Group Announce Its First-Ever Buyback To Restore Confidence in the Stock?
- Lufthansa Group – Revisiting Margin and Portfolio Management Challenges
- ASGN Incorporated: AI and Cloud Data Structuring Project Demand Fueling Its Growth! – Major Drivers
- Sensata Technologies: What Are Its Industrial Dynamics and New Product Launches? – Major Drivers
- Shin Pro Maint (6086 JP): Q1 FY02/25 flash update
Reorganization of the Doosan Group: Why Delist Doosan Bobcat (Jewel of Doosan Group)?
- On 11 July, the Doosan Group announced a major business structure reorganization, including the delisting of Doosan Bobcat Inc (241560 KS).
- In our view (over the next 3-6 months), these transactions appear to be value-destroying for Doosan Bobcat and Doosan Enerbility minority shareholders but positive for Doosan Robotics shareholders.
- Doosan Robotics plans to acquire the remaining 54% stake in Doosan Bobcat through a tender offer. Once Doosan Robotics fully owns Doosan Bobcat, its shares will be delisted.
Will Hesai Group Announce Its First-Ever Buyback To Restore Confidence in the Stock?
- Hesai Group shares significantly underperformed in 2024 with shares down ~47% over the year versus a ~23% gain on the Nasdaq Composite.
- Moreover, a San Francisco-based Ouster, one of the key competitors among LiDAR makers, outperformed Hesai Group and the NASDAQ on a year-to-date basis.
- I believe Hesai Group should initiate a share buyback program as RoboSense has recently announced on-market share repurchase plan to create value for its shareholders.
Lufthansa Group – Revisiting Margin and Portfolio Management Challenges
- Lufthansa mainline losses in 2024 force management to pursue transformation
- Portfolio management challenges driven by a variety of factors including LH mainline unit costs and pricing at sister companies
- Much work to do to turn ITA around, while firm management focus is required at home
ASGN Incorporated: AI and Cloud Data Structuring Project Demand Fueling Its Growth! – Major Drivers
- ASGN Inc. delivered a robust set of results for the first quarter of 2024, demonstrating solid growth in certain areas despite challenges in others.
- With revenue of $1.05 billion and an adjusted EBITDA of $10.3 million, both metrics approached the upper end of the company’s guidance, underscoring management’s effective operational execution and strategic foresight.
- The company’s diverse portfolio, balancing commercial and government segments, has provided a buffer against the cyclical nature of IT spending, particularly amid ongoing economic uncertainties.
Sensata Technologies: What Are Its Industrial Dynamics and New Product Launches? – Major Drivers
- Sensata Technologies has reported a solid performance in the first quarter of 2024, reflecting both advances and challenges within its diverse portfolio.
- This review aims to provide an impartial analysis of Sensata’s recent financial results and strategic engagements as disclosed in their latest financial disclosures.
- Beginning with the financial metrics, Sensata Technologies recorded a slight revenue increase from $998 million in Q1 2023 to $1.007 billion in Q1 2024, representing a modest year-over-year growth of 1%.
Shin Pro Maint (6086 JP): Q1 FY02/25 flash update
- Revenue increased by 13.4% YoY to JPY5.8bn, driven by new customers and expanded maintenance services for existing customers.
- Operating profit rose by 32.3% YoY to JPY342mn, with an OPM up 0.8pp YoY to 5.9%.
- Gross profit reached JPY1.3bn (+12.8% YoY), with a GPM of 22.6% (-0.1pp YoY), and SG&A expenses were JPY960mn (+7.1% YoY).
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
