In today’s briefing:
- Takamiya (2445 JP) Initiation Report
- Carlisle (CSL-US) 1Q23 Update
- Carrier Global Corporation: Benefitting From Improvements In Supply Chain & Pricing – Key Drivers
- Howmet Aerospace Inc.: Continued Strength In Commercial Aerospace – Key Drivers
Takamiya (2445 JP) Initiation Report
- Accelerating de facto standardization of the Iq System
- Guiding for double-digit growth in sales and profit in FY23/3
- Roadmap for sustainable growth. Takamiya is currently implementing its medium-term management plan ending in FY2024/3.
Carlisle (CSL-US) 1Q23 Update
- Carlisle’s earnings came in a little soft in the quarter, driven mostly by a greater magnitude of de-stock than first anticipated and some weather-related delays.
- In addition, the company lowered guidance for the year for CCM with a hit to both margins and volumes.
- I was already below guidance on margins for this year but I was too high on sales, and the deleverage has caused margins to come in <30% for 2023.
Carrier Global Corporation: Benefitting From Improvements In Supply Chain & Pricing – Key Drivers
- Carrier Global’s results for the last quarter were an all-around beat and its cash flows, earnings, and sales were in line with the expectations of the management.
- It delivered organic sales growth supported by double-digit growth in commercial HVAC and light commercial, trailer and global truck, and after-market.
- Carrier made progress in its innovative Lynx platform and has launched various new capabilities this quarter.
Howmet Aerospace Inc.: Continued Strength In Commercial Aerospace – Key Drivers
- With its earnings just around the corner, it is interesting to look at how Howmet Aerospace has been performing in recent times.
- The company exited the last quarter with a strong acceleration in revenue despite the choppy backlog.
- Commercial transportation, which impacts fastening systems and forged wheels, was up in the quarter, driven by higher volumes and higher aluminum prices.
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