In today’s briefing:
- The Clorox Co: Major Drivers
- The Estee Lauder Companies Inc.: Major Drivers
- Qualcomm Technologies Inc.: New Launches & Other Drivers
- ConocoPhillips: Collaboration With Sempra Infrastructure & Other Drivers
- Honeywell International Inc.: Hydrogen Fuel Cells For Aviation & Other Drivers
- Microchip Technology Inc: New Launches & Other Drivers
- Sirius XM Holdings Inc.: Major Drivers
- Cardinal Health Inc: Major Drivers
- Starbucks Corporation: Web3 Odyssey Program & Other Drivers
- Commodity Watch – What Super Cycle?
The Clorox Co: Major Drivers
- Clorox delivered a solid set of results in the previous quarter with organic sales growth in 3 to 4 segments, double-digit earnings growth, and gross margin expansion, despite the challenges in the market due to an unstable global operating environment.
- The company delivered an all-around beat and continued to work on the enhancement of its brand equity.
- Clorox has been encountering different challenges in the macro environment for the past few quarters especially after the Covid-19 tailwinds have receded.
The Estee Lauder Companies Inc.: Major Drivers
- Estee Lauder delivered a highly disappointing result despite surpassing Wall Street expectations in terms of revenues as well as earnings.
- With its business continuing to be pressured by external headwinds resulting from the pandemic, the organic net sales and the earnings per share decreased in the quarter for Estee Lauder.
- Estee Lauder should also benefit from the acquisition of Tom Ford in competing with L’Oréal.
Qualcomm Technologies Inc.: New Launches & Other Drivers
- Qualcomm has been witnessing various short-term challenges impacting the semiconductor industry which is why its revenues in the last result were below Wall Street expectations.
- In handsets, the recently announced Snapdragon Gen 2 mobile platform of the company in order to create AI-accelerated experiences for smartphones.
- Within IoT, multiple end industries and the handset industry continue to experience weaker demand and elevated inventory levels.
ConocoPhillips: Collaboration With Sempra Infrastructure & Other Drivers
- ConocoPhillips had a mixed result in the last quarter as the company was able to surpass the revenue expectations of Wall Street given its diversified and deep portfolio.
- From a portfolio perspective, the company’s deep asset base is very well-positioned to generate solid cash flow and has generated a high return on capital.
- The company has many new LNG opportunities in the United States and in Qatar which provide a strong upside.
Honeywell International Inc.: Hydrogen Fuel Cells For Aviation & Other Drivers
- Honeywell had another challenging quarter with inflation headwinds and supply chain constraints still at play.
- Modest improvement in the supply chain helped Honeywell to reduce its cost to use backlog and deliver more building management systems and fire products resulting in organic growth in the building products.
- Advanced materials grew in the quarter, as seen from the strong value capture across the demand and portfolio in fluorine products.
Microchip Technology Inc: New Launches & Other Drivers
- Microchip had a solid fourth quarter that surpassed Wall Street expectations in terms of revenues as well as earnings.
- Microchip has also increased the raw materials inventory to protect the internal manufacturing chains.
- In terms of new launches, Microchip launched the MIC69303RT, a 3A Low-Dropout Voltage Regulator in the previous quarter.
Sirius XM Holdings Inc.: Major Drivers
- Sirius XM had a mixed quarterly result.
- This was a challenging environment for the company as the auto sales were the lowest in 11 years in 2022.
- Sirius XM is trying to attract more consumers to its platform and continues holding the largest share of car music outside combined terrestrial radio.
Cardinal Health Inc: Major Drivers
- Cardinal Health, one of the largest wholesalers of the healthcare industry in the U.S., continued its strong performance in the last quarter and managed to deliver an all-around beat.
- Cardinal Health’s total revenue has increased by 13% in the last quarter, and the gross margin increased by 3%, driven by the Pharma segment.
- There was an increasing overall pharmaceutical demand and a strong performance from the Generics programs.
Starbucks Corporation: Web3 Odyssey Program & Other Drivers
- Starbucks delivered a disappointing set of results as it failed to meet Wall Street expectations in terms of revenues as well as earnings.
- The U.S. company-operated stores Starbucks have a decent revenue in the quarter, and so did North America overall.
- In the quarter, it launched its first Starbucks reward named Reward Together partnership with Delta Airlines.
Commodity Watch – What Super Cycle?
- Where is the global commodity super cycle that everyone keeps predicting?
- Industrial metals have outperformed energy (as we predicted) and will likely continue to do so
- Selective positioning in the commodity space remains of vital value with no super cycle in sight
💡 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
