In today’s briefing:
- Booking Holdings Inc.: The Margin Expansion Story Continues! What’s Their Secret Sauce? – Major Drivers
- Dropbox Inc.: The Skyrocketing Potential of AI and New High-Value Products! – Major Drivers
- Cummins Inc.: High Demand
- Air Products and Chemicals Inc.: Price Surges
- Alnylam Pharmaceuticals Inc.: Can The Latest Collaboration With Roche Be A Game Changer? – Major Drivers
- Philip Morris International Inc.: The Smoke-Free Business Revolution You Didn’t See Coming! – Major Drivers
- IPower, Inc. -Reports 4Q23 Results
- Kellogg Company: Riding the Wave of Global Snack Trends – Can They Sustain the Momentum? – Major Drivers
- Steelcase, Inc – Preview: 2QFY24 Expected to Improve Sequentially
- Quanta Services Inc.: Renewable Solutions Skyrocket! Why Their Strategy Matters? – Major Drivers
Booking Holdings Inc.: The Margin Expansion Story Continues! What’s Their Secret Sauce? – Major Drivers
- Booking Holdings Inc. managed to exceed analyst expectations in terms of revenue as well as earnings.
- The 268 million hotel nights booked in the second quarter increased by 9% year over year, and the $39.7 billion in gross bookings, the largest quarterly total ever, surged by 15% year over year.
- The positive demand environment caused hotel nights and revenue bookings to surpass the company’s previous projections.
Dropbox Inc.: The Skyrocketing Potential of AI and New High-Value Products! – Major Drivers
- Dropbox, Inc. delivered a positive result and managed an all-around beat in the last quarter, driven by FormSwift’s revenue growth and some improvement in the company’s SKUs, as the development it observed in late Q1 carried over into Q2.
- In the quarter, the company launched Dropbox AI.
- Furthermore, Dropbox introduced a new activation homepage to simplify admins setting up their teams and becoming familiar with the product.
Cummins Inc.: High Demand
- Cummins Inc. delivered mixed results in the quarter, with revenues above expectations but below-par earnings.
- Cummins’ organic sales growth rate was 12%, driven by increased pricing and strong end-market demand for its goods globally, with a balance of 19% rise in sales generated by including Meritor.
- Due to the inclusion of Meritor, high demand, and better pricing, the quarter’s revenue increased.
Air Products and Chemicals Inc.: Price Surges
- Air Products and Chemicals’ pricing strength remains unabated, with its volume improving for an impressive ninth consecutive quarter, bolstered by strong on-site performance, and the integration of over 13 new assets.
- Strategically, Air Products & Chemicals underscores two fundamental growth pillars: the robust core industrial gas business and the pioneering low and zero-carbon hydrogen projects.
- The latest quarter results were also commendable, with a 3% volume increase and a 10% rise in merchant price.
Alnylam Pharmaceuticals Inc.: Can The Latest Collaboration With Roche Be A Game Changer? – Major Drivers
- Alnylam Pharmaceuticals, Inc. delivered a disappointing set of results as it was unable to meet the revenue earnings expectations of Wall Street.
- In Q2, the overall net product revenues increased 43% year over year across all products.
- The TTR brand generated $224 million in global net product revenues for ONPATTRO and AMVUTTRA, a 46% increase from the second quarter of 2022 and a 9% rise from the first quarter.
Philip Morris International Inc.: The Smoke-Free Business Revolution You Didn’t See Coming! – Major Drivers
- Philip Morris International managed to surpass the revenue and the earnings expectations of Wall Street.
- This fantastic result supported high teens’ currency-neutral adjusted diluted EPS growth and double-digit organic top-line growth.
- Given these strong results, their team remains confident in a solid full-year result with exceptional revenue growth.
IPower, Inc. -Reports 4Q23 Results
iPower reported 4Q23 and FY23 revenue of $23.4 million and $88.9 million, respectively, up 6% and 12% versus last year’s results.
The company reported a loss per share of $0.10 for the quarter, and a loss per share of $0.40 for the year, reflecting the unusual transportation and warehousing expenses experienced as a result of last year’s supply chain disruption.
Inventories declined from $30.4 million at the end of FY22 to $20.6 million, with management targeting a further reduction to about $15 million.
Kellogg Company: Riding the Wave of Global Snack Trends – Can They Sustain the Momentum? – Major Drivers
- Kellogg Company delivered mixed results in the quarter, with revenues below expectations but surpassed the Wall Street consensus regarding earnings.
- With this operating profit result, Kellogg is slightly above its previous full-year forecast.
- Market growth rates for the snacks category remained strong and may have even increased somewhat from the previous quarter.
Steelcase, Inc – Preview: 2QFY24 Expected to Improve Sequentially
Steelcase reports 2QFY24 after market close on Tuesday, September 19, with its earnings conference call on Wednesday, September 20 at 8:30 am ET.
We expect 2Q24 EPS of $0.20 (also consensus) on revenue of $827.8 million (consensus of $829 million). Our EPS estimate is a penny lower than last year on lower revenue.
Following 1Q24 results, we shaved our 2Q24 revenue estimates by ~$20 million, but with evidence of better execution on gross margin, our earnings estimate ticked down by only $0.01.
Quanta Services Inc.: Renewable Solutions Skyrocket! Why Their Strategy Matters? – Major Drivers
- Quanta Services, Inc. surpassed the revenue and earnings expectations of Wall Street.
- They resulted in significant quarterly revenues exceeding $5 billion for the first time in company history and a backlog of $27.2 billion.
- In this report, we have carried out a fundamental analysis of the historical financial statements of the company.
💡 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
