Category: Diversified Tech

Analysis, Diversified Tech, Finance

PetroChina Sees Improvement in Refining Segment in Q3

PetroChina reported third-quarter results that included decreasing refining losses, which we attribute to China’s adjusted refined product pricing mechanism. Exploration and production operating profit for the quarter was roughly even with the same period last year, but broke a sequential downtrend in 2013 over the first six months of this year. On the whole, PetroChina’s quarterly results were reasonably close to our expectations, and we … Continue reading PetroChina Sees Improvement in Refining Segment in Q3

Colin PettisLeave a comment
Consumer Goods, Diversified Tech, Finance

British American Tobacco Reports Continued Growth Behind Strength of Vype

As reported by StreetWise Tech, British American Tobacco’s Interim Management Statement for the nine months ended Sept. 30 shows that the group’s Global Drive Brands continue to perform well and that the firm’s newly launched eCig brand, Vype, is off to an encouraging start. We continue to believe that the firm’s wide economic moat is bolstered by its popular brands, global reach, and addictive product … Continue reading British American Tobacco Reports Continued Growth Behind Strength of Vype

Adam KeintzelLeave a comment
Diversified Tech, Finance

Dentsply Continues to Face Strong Headwinds in Europe

Although Dentsply’s revenue growth continues to fall slightly short our expectations, management’s ability to offset the medical device tax combined with the integration of Astra Tech kept total earnings growth near analyst’s forecasts. Excluding precious metals, Dentsply’s revenue increased 3.4%, or 2.7% on a constant currency basis, which is slightly below last year’s internal growth but on par with the second quarter. While sales growth … Continue reading Dentsply Continues to Face Strong Headwinds in Europe

Chris LewisLeave a comment
Diversified Tech, Finance

Lithia Motors Posts Record Results in Q3

Lithia Motors reported all-time record results of $1.13 per share for adjusted diluted earnings per share from continuing operations. This mark beat consensus by $0.03, and another healthy mid-digit percentage increase in same-store revenue year over year also enabled the company to beat on revenue. Despite what we see as a very strong quarter, management’s comments on more growth coming from acquisitions and the introduction … Continue reading Lithia Motors Posts Record Results in Q3

Jason KnoxLeave a comment
Diversified Tech, Finance

Sonoco Results Driven by Higher Pricing and Demand

Sonoco Products announced solid third-quarter results on Thursday, driven primarily by higher overall pricing and improving demand in the Paper & Industrial Converted Products and Display Packaging segments. Management increased its full-year free cash flow (excluding dividend payments of about $129 million) target to $190 million from $150 million and tightened full-year guidance to $2.27-$2.32 per share from $2.26-$2.32 per share; we expect to leave … Continue reading Sonoco Results Driven by Higher Pricing and Demand

Ryan HoltzLeave a comment
Consumer Goods, Diversified Tech, Finance

Silgan Posts Dismal Quarter; Lowers Full Year Guidance

After reviewing Silgan’s disappointing third-quarter results, we are maintaining our $42 per share fair value estimate as well as our narrow economic moat rating. We are, however, reducing our full-year EPS estimate to $2.78 after management lowered guidance to $2.75-$2.85 from $3.00-$3.15. Our longer-term thesis on Silgan is that, while the company currently possesses a meaningful low-cost manufacturing advantage in its metal food can segment, … Continue reading Silgan Posts Dismal Quarter; Lowers Full Year Guidance

Mark DoerrLeave a comment