Daily Brief Industrials: Symbotic, Contemporary Amperex Technology (CATL), Herc Holdings , Patrick Industries and more

• SYM has disclosed one additional customer site location, Cullman, Alabama, in third quarter 2024. This one location brings the total number of sites where customers have accepted SYM’s to twenty.
• We believe the slowdown in system placements and acceptance has continued into the third quarter and the challenges faced in the second quarter are likely to continue.
• SYM has been promising several product placements progressing from backlog to acceptance. We believe this pace has slowed with only one location so far in Q3

• Contemporary Amperex Technology Co. Ltd. (CATL), the world’s largest battery producer, is focusing its research and development team on the use of artificial intelligence to discover the next generation of battery materials.
• Zeng Yuqun, the CATL’s chairman, said his company has 20,000 people working in R&D and discovering the materials that will push forward battery innovation was their main aim. He was talking on Wednesday to Nicolai Tangen, chairman of Norway’s sovereign wealth fund Norges Bank Investment Management.
• CATL holds a dominant position in the global power battery market, accounting for 37.6% of the market in the first seven months of 2024, according to South Korean research firm SNE Research.

• Herc Holdings Inc., a prominent equipment rental company, recently delivered its financial results for the second quarter of 2024, revealing several notable trends that reflect both the company’s strategic decisions and broader industry dynamics.
• The company has strategically managed to align its operational strategies with market demands, demonstrating an emphasis on increasing market share, enhancing geographic density, optimizing fleet mix, and leveraging technology.
• 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.

• Patrick Industries is a manufacturer and distributor of components for various industries such as recreational vehicles, marine, and manufactured housing
• The company has a history of value creation and shareholder value creation
• Despite being undercovered in the investing community, PATK presents an opportunity for long-term investors due to potential future upside and its competitive landscape in the manufacturing sector

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.