In today’s briefing:
- Intel’s New Segment Reporting. Transparency Or Obfuscation?
- Shockwave Medical Inc (SWAV US): Johnson & Johnson (JNJ US)’s Acquisition Offer
- Oil Prices Surge on OPEC+ Decision, US Inventory Buildup Slows Momentum
- KRUS: Successive Guidance Upgrade as Kura Face Tougher Comps
- Gibraltar Industries: Investment in Digital Transformation
- BellRing Brands: Upping Its Inventory Management Game While Expanding Distribution Scale!
- Lions Gate Entertainment: 5 Factors Influencing Its Survival In The Entertainment Industry!
- Reynolds Consumer Products: Can It Successfully Restore Profitability in Disposable Tableware?
- Alternus Clean Energy, Inc. – JV with Acadia Energy to Develop 200 MW of Microgrid Projects
Intel’s New Segment Reporting. Transparency Or Obfuscation?
- Intel launched a new segment reporting structure under which its newly created Foundry P&L allegedly racked up operating losses of ~$17 billion over the past three years
- The Foundry P&L is not expected to reach breakeven until the ’27/’28 timeframe
- Intel’s share price is down >10% in the two days since the new financial model was launched.
Shockwave Medical Inc (SWAV US): Johnson & Johnson (JNJ US)’s Acquisition Offer
- Johnson & Johnson (JNJ US) entered into a definitive agreement to acquire Shockwave Medical Inc (SWAV US) for $335/share in cash or an enterprise value of $13.1B.
- Offer price represents 4.7% premium over yesterday’s closing price or around 19% premium over the undisturbed price. The deal is expected to close by mid-2024.
- With no product overlap and competition concern, the deal is expected to get regulatory approval. With reasonable deal valuation, shareholders approval is also expected.
Oil Prices Surge on OPEC+ Decision, US Inventory Buildup Slows Momentum
- OPEC+ decides to keep output targets intact till June. Iraq and Kazakhstan vow to compensate for overproduction.
- OPEC+ pressed its members to improve compliance with production quotas in Q22024.
- Expansion in US crude stockpiles slightly dampens the bull run of oil prices. While gasoline and distillate drawdowns come in better-than-expectations.
KRUS: Successive Guidance Upgrade as Kura Face Tougher Comps
- Kura Sushi US Weighting as of writing: 4% 5th April 2024 – Q2 FY24 Results On April 4th, Kura Sushi US reported earnings for the second quarter of FY24.
- Nothing major to report and similar themes to previous quarters so will keep this one short. The market valuation is astronomically stupid.
- Average unit volumes at Kura are $4.28 million and have improved significantly; up 22% since 2019.
Gibraltar Industries: Investment in Digital Transformation
- Gibraltar Industries’ Q4 2023 financial results presented a robust year-end performance.
- The company’s leadership positions were expanded, the quality of earnings improved, and strong cash flows were generated.
- Both Residential and Infrastructure perform strongly, and although the Renewable segment faced industry headwinds, it demonstrated excellent margin expansion.
BellRing Brands: Upping Its Inventory Management Game While Expanding Distribution Scale!
- BellRing Brands Inc. has reported the results from their first quarter ending fiscal year 2024.
- These results have come out better than the management’s expectations, with net sales increasing by 19% in comparison to the previous year.
- The company’s adjusted EBITDA also showed considerable growth, rising by 18%.
Lions Gate Entertainment: 5 Factors Influencing Its Survival In The Entertainment Industry!
- The third quarter 2024 financial results for Lionsgate reveal positive trends contributing to the company’s growth and strategic developments.
- In this update, there are strong indicators of continued growth owing to an impressive performance across the business segments.
- Conversely, there are risks due to the competitive landscape and the strong reliance on hit content titles.
Reynolds Consumer Products: Can It Successfully Restore Profitability in Disposable Tableware?
- Reynolds Consumer Products managed to maintain strong growth in Q4 2023, raising its share in some of its largest categories, including household foil and waste bags, achieving record profits, and boosting its cash flow.
- This was driven by double-digit profit growth across its various businesses.
- The operational stability of its Reynolds Cooking business has been restored and it has returned to historical earnings.
Alternus Clean Energy, Inc. – JV with Acadia Energy to Develop 200 MW of Microgrid Projects
- Alternus Clean Energy and Acadia Energy have announced a joint venture to co-develop 200 MW of Sustainability Hub™ microgrid projects in New York State.
- Acadia has a pipeline of 1.5-2.0 GW of renewable energy projects in New York, with an average size of 20-50 MW per project.
- The partnership aims to develop and operate a portfolio of scalable microgrid projects over the next two to three years, which are expected to begin achieving commercial operations within two years.
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