In today’s briefing:
- TPL: Collecting Cash Looking to 2024
- ASRT: Minimizing Indocin, PT $4
- HWKN: Water and Margin Growth, PT to $74
- Brands & NFTs — Why Web3 Is A Game Changer for Brand Growth
TPL: Collecting Cash Looking to 2024
- TPL Summary Texas Pacific Land (TPL) reported third quarter results where a decline in daily production led to lower than expected oil and gas royalties.
- The rate of production has always been the variable part of TPL’s results. In Q3 production levels were impacted by the summer heat in Texas causing abnormal electricity levels
- TPL reported third quarter revenue of $158.0 million compared to our estimate of $178.7 million
ASRT: Minimizing Indocin, PT $4
- ASRT has not had any news to rekindle investor interest since reporting second quarter results. ASRT is scheduled to report third quarter results on November 8, 2023
- Ahead of the news, we are readjusting our expectations for Indocin. We are minimizing the revenue potential from Indocin in our earnings model.
- Going forward, Rolvedon becomes the primary revenue generator. ASRT should generate positive net income with Rolvedon sales ramping
HWKN: Water and Margin Growth, PT to $74
- HWKN reported fiscal second quarter (September) results with improved gross margin and continued reversal of last in first out (“LIFO”) reversals
- HWKN converted inventory to cash that was then used to reduce the debt balance allowing HWKN to acquire two more water treatment businesses
- The quarter included a sharper decline in industrial sales than expected. However, the higher gross margin in water treatment and health and nutrition segments were able to offset the impact
Brands & NFTs — Why Web3 Is A Game Changer for Brand Growth
- Web3 and NFTs is a green field opportunity for forward-thinking brands. It can create win-win opportunities for brands and consumers. Adidas, Nike, TIME, and Gucci capitalized early.
- The next generation of brands embracing NFTs can draw valuable insights from previous brand experiments, learning from their successes while avoiding their mistakes.
- We pinpoint four fundamental pillars that can propel brand engagement in the real world. And how NFTs are powerful tools that can enrich each pillar
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