In today’s briefing:
- Intel Q224 Meltdown. Don’t Say We Didn’t Warn You…
- Waste Connections Inc.: Expansion of Core Solid Waste Pricing & Other Major Drivers
- United Rentals Inc.: An Analysis Of Their Acquisition-Led Growth & Competitive Advantage! – Major Drivers
- Whirlpool Corporation: How Is The Management Executing Global Market Penetration and Diversification! – Major Drivers
- Ford Motor Company: EV Segment Losses & Surging Warranty Costs Are A Major Concern! – Major Drivers
- Fortive Corporation: How Is The Strategic De-risking in Advanced Market Engagements Working Out? – Major Drivers
- Newmont Corporation: What Is Their Portfolio Optimization Strategy? – Major Drivers
- O’Reilly Automotive Inc.: What Major Challenges Did They Face & How Is The Management Overcoming Them? – Major Drivers
- Republic Services Group: Strategic Acquisitions
- Tenet Healthcare Corporation: Focus on Ambulatory Surgical Centers (ASC) Growth & Enhanced Operational Management! – Major Drivers
Intel Q224 Meltdown. Don’t Say We Didn’t Warn You…
- Q224 revenues of $12.8 billion, in line with their updated May outlook, ~flat QoQ and down 1% YoY.
- Gross margin (non-GAAP) was 38.7%, down 1.1 points YoY but down a whopping 4.8 points from the April outlook.
- Shares tanked >24% in after hours trading. What’s really going on at Intel?
Waste Connections Inc.: Expansion of Core Solid Waste Pricing & Other Major Drivers
- Waste Connections demonstrated strong financial performance in the latest quarter, driven by solid waste pricing and effective cost management.
- The company’s revenue grew by over 11%, with core solid waste pricing contributing significantly to this growth.
- Despite a slight decline in volumes, the company’s strategic approach to pricing and contract renewals has maintained revenue quality, offsetting the negative impact of lower special waste volumes and other cyclical challenges.
United Rentals Inc.: An Analysis Of Their Acquisition-Led Growth & Competitive Advantage! – Major Drivers
- United Rentals recently discussed its financial performance and strategic direction, presenting a mixed but robust picture of its operational and financial health.
- The company reported a notable increase in total revenue, which rose by 6% year-over-year to $3.8 billion in the second quarter, with rental revenue climbing 8% to $3.2 billion.
- This growth was bolstered by fleet productivity, which also saw an improvement of 4.6%.
Whirlpool Corporation: How Is The Management Executing Global Market Penetration and Diversification! – Major Drivers
- Whirlpool Corporation reported its second quarter earnings for 2024, reflecting a mixed performance amid a challenging macroeconomic environment.
- The company showed strong sequential global margin expansion and reiterated its net sales guidance at $16.9 billion.
- However, it faced downward pressure on discretionary demand due to the soft housing market, particularly affecting the North American market.
Ford Motor Company: EV Segment Losses & Surging Warranty Costs Are A Major Concern! – Major Drivers
- Ford Motor Company’s second quarter 2024 performance offers a comprehensive snapshot of a transitional phase in the company’s long-standing history.
- The quarter reflects their advancing Ford+ strategic plan which aims to refine operational efficiencies and bolster profit margins through structural adaptations and technological advancements.
- 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.
Fortive Corporation: How Is The Strategic De-risking in Advanced Market Engagements Working Out? – Major Drivers
- Fortive Corporation’s recent earnings report underscores its strategic focus and financial agility in today’s economic environment.
- The firm showcased a robust display of financial discipline and strategic execution, achieving earnings and free cash flow at the high end of expectations.
- Despite facing a low growth environment, Fortive demonstrated a remarkable 90 basis points of adjusted operating margin expansion and a 9% growth in adjusted earnings, which highlights its operational efficacy and resilience.
Newmont Corporation: What Is Their Portfolio Optimization Strategy? – Major Drivers
- Newmont Corporation reported strong second quarter results, keeping the company well-aligned with its 2024 guidance and reinforcing its position to improve financial performance as the year progresses.
- In the quarter under review, Newmont achieved a production of 1.6 million ounces of gold, alongside 477,000 gold equivalent ounces from other minerals including copper, leading to a solid cash flow generation of $1.4 billion from operations and $594 million in free cash flow.
- These figures underscore the company’s robust operational achievements despite the usual challenges faced in the mining sector.
O’Reilly Automotive Inc.: What Major Challenges Did They Face & How Is The Management Overcoming Them? – Major Drivers
- O’Reilly Automotive, Inc. faced a challenging second quarter in 2024, with performance below expectations due to broader industry demand headwinds.
- Despite these challenges, the company reported a 2.3% increase in comparable store sales, continuing to outperform the industry.
- Adjustments in full-year outlook for operating profit and earnings per share were made following these results.
Republic Services Group: Strategic Acquisitions
- Republic Services has reported robust second quarter results, continuing its positive momentum with strategic execution in key areas including customer engagement, digital transformation, and sustainable practices.
- Revenue growth in the quarter stood at 9%, while adjusted EBITDA grew by 13%, reflecting strong operational performance and efficient management strategies.
- This growth was driven by a focus on high-quality customer service and organic growth, maintaining a customer retention rate above 94%.
Tenet Healthcare Corporation: Focus on Ambulatory Surgical Centers (ASC) Growth & Enhanced Operational Management! – Major Drivers
- Tenet Healthcare Corporation delivered robust financial results in the second quarter of 2024, surpassing expectations with net operating revenues recorded at $5.1 billion.
- The performance was marked by a notable 12% year-over-year growth in consolidated adjusted EBITDA, which reached $945 million, translating to an adjusted EBITDA margin of 18.5%.
- This growth is primarily attributed to strong operational execution and strategic expansions across its segments.
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