In today’s briefing:
- Unexpected Surge in US Crude Oil Stockpile Highlights Inventory Discrepancies
- Wingstop Inc.: Initiation Of Coverage – These Are The 6 Big Catalysts For Its Future Growth! – Financial Forecasts
- Copart Inc: Will The Expansion of Noninsurance Business Catalyze Its Future Growth? – Major Drivers
- Booking Holdings Inc: Leveraging Technology & AI For Growth! – Major Drivers
- APA Corporation: Robust Cash Flow Generation in Permian Basin & Egypt Operations & 5 Other Drivers
- TRS: Specialty Overshadows Packaging
- Moderna Inc: Initiation Of Coverage – Product Pipeline
- Rivian Automotive: Initiation Of Coverage – 5 Major Factors Driving Growth! – Financial Forecasts
- Quanta Services: How Long Will The Renewable Growth Story Continue? – Financial Forecasts
- Intuit Inc.: How Significant Are Their Advancements In Artificial Intelligence Capabilities? – Financial Forecasts
Unexpected Surge in US Crude Oil Stockpile Highlights Inventory Discrepancies
- US crude oil inventories buildup outpaces gasoline and distillate withdrawal for the week ending on 23/Feb.
- Refinery utilisation rates rose by 0.9 percentage points on a weekly basis to 81.5%, for the first time in 2024.
- Disparity between crude oil and refined petroleum inventories to remain in the near term as refinery utilisation rates are yet to recover completely after the maintenance season.
Wingstop Inc.: Initiation Of Coverage – These Are The 6 Big Catalysts For Its Future Growth! – Financial Forecasts
- The Wingstop Fiscal Fourth Quarter and Full Year 2023 Earnings highlighted the company’s substantial progress with its strategies involving same-store sales growth, brand partner returns, and growth acceleration.
- An eye-catching declaration from Wingstop was that 2023 was its strongest financial year on record, demonstrated simultaneously through its industry-leading results and marking its 20th consecutive year of same-store sales growth.
- Furthermore, Wingstop managed to grow to over $3.5 billion in system-wide sales- a growth spurt of 27%- coupled with the opening of a record-breaking 255 net new restaurants..
Copart Inc: Will The Expansion of Noninsurance Business Catalyze Its Future Growth? – Major Drivers
- Copart, Inc, a leading provider of online vehicle auctions, recently disclosed its second-quarter financial results for the fiscal year 2024.
- The recorded statements offered valuable insights into the company’s operational and financial advancements during the period.
- In the insurance business, the company reported profitable growth despite slight disturbances in the comparison metrics, primarily caused by significant catastrophic events in the previous year, including Hurricane Ian.
Booking Holdings Inc: Leveraging Technology & AI For Growth! – Major Drivers
- Booking Holdings recently reported solid Q4 and full-year 2023 results due to global leisure travel demand resilience.
- Room nights grew by 9% YoY, and revenue of $4.8 billion alongside adjusted EBITDA of $1.5 billion exceeded expectations.
- Non-GAAP earnings per share also grew by 29% YoY, attributed to a reduced share count from the previous year.
APA Corporation: Robust Cash Flow Generation in Permian Basin & Egypt Operations & 5 Other Drivers
- Cheniere Energy, Inc.
- has reported substantial operational and financial attainments for Q4 and the entire year of 2023.
- The company produced a record 637 LNG cargoes, with a total production amounting to 45 million tons, in line with their forecast.
TRS: Specialty Overshadows Packaging
- The fourth quarter results from TRS were not up to our expectations after a recovery in packaging was subdued by an unexpected significant decline in the specialty business
- The specialty business has been a source of sales growth for the past nearly three years without any sign of slowing down until Q4.
- TRS reported fourth quarter sales of $209.6 million compared to our forecast of $247.4 million. The biggest delta was from specialty where sales missed our estimate by $26 million
Moderna Inc: Initiation Of Coverage – Product Pipeline
- This is our first report on Moderna, Inc., a renowned biotechnology company utilizing mRNA technology in the development of therapeutics and vaccines.
- The company entered 2024 optimistic despite challenging 2023 results.
- The company’s revenue for 2023 stood at $6.1 billion, with a net loss of $4.7 billion.
Rivian Automotive: Initiation Of Coverage – 5 Major Factors Driving Growth! – Financial Forecasts
- This is our first report on automobile major, Rivian Automotive.
- The company has made significant progress, doubling its production and deliveries and surpassing its initial production guidance by over 7,000 vehicles.
- The production ramp-up and introduction of new technologies came with challenges, but the company believes that the gained experience will be helpful in executing its 2024 plan.
Quanta Services: How Long Will The Renewable Growth Story Continue? – Financial Forecasts
- Quanta Services, Inc., a provider of specialized contracting services, reported fourth-quarter and full-year results for 2023 reflecting double-digit growth in revenues and earnings, pointing to robust demand and solid execution.
- Total year-end backlog was $30.1 billion, indicative of the company’s enduring client relationships and momentum entering 2024.
- Record revenue was achieved 6 out of the last 7 years along with 6 consecutive years of record-adjusted EBITDA and 7 years of continuous record-adjusted earnings per share, aided by Quanta’s operational and financial platform backed by over 50,000 dedicated employees.
Intuit Inc.: How Significant Are Their Advancements In Artificial Intelligence Capabilities? – Financial Forecasts
- Intuit, a leading provider of financial management software solutions, has shown strong performance in its second quarter of fiscal year 2024.
- Reinforcing the company’s commitment to become a global Artificial Intelligence (AI)-driven expert platform, Intuit reported an 11% growth in revenue, and is on track to achieve its full fiscal year guidance of 11% to 12% revenue growth.
- As for Intuit’s tax service, TurboTax, revenue growth of 7% to 8% is expected for the Consumer Group for the full fiscal year.
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