AMETEK, Inc: Major Drivers, Financial Forecasts, DCF & Comparables Valuation, ESG & Other Risks (02/23))

Ametek continued to deliver excellent results with strong growth in the fourth quarter as well. The company delivered an all-around beat in this quarter and has seen a positive impact in the organic growth initiatives. In this quarter, the sales were up 8% over the same period in 2021. On the other hand, the organic sales growth was 9%. The company also had a backlog of $3.22 billion. The company is also working on its acquisition strategies as well. The management expects to remain active in 20

Ametek Inc: Recent Acquisitions & Other Developments, Financial Forecasts, DCF & Comparables Valuation, ESG & Other Risks (11/22)

Ametek’s stock price has surged as the company delivered excellent results with strong sales growth as well as solid operational execution, thus leading to high earnings, both of which were well above market expectations. Operationally, the company's businesses are performing quite well and offsetting inflation successfully with price increases, thus resulting in an impressive margin expansion. Ametek also sees continued broad-based and strong demand across its diversified niche markets that lea

Ametek Inc: Value Proposition, Switching Costs & Other Drivers, Financial Forecasts, DCF & Comparables Valuation, ESG & Other Risks (08/22)

Ametek was able to surpass Wall Street expectations on all fronts in the previous quarter as a result of stronger-than-anticipated organic sales growth and impressive margin improvement. The demand in the company’s many specialty markets is very strong and broad-based, which has resulted in exceptional organic order growth and a robust backlog of $3.1 billion. Their EIG businesses continue to have very significant organic growth, with Ultra Precision Technologies and P&AI divisions showing parti

Ametek Inc.: Acqusition-Led Growth & Other Drivers, Financial Forecasts, DCF & Comparables Valuation, ESG & Other Risks (05/22)

Ametek had a strong first quarter, with strong sales growth and excellent operating performance, resulting in robust core margin expansion and earnings that exceeded the company’s expectations. The company’s $1.46 billion worth of revenues were up 20% from the same period in 2021 driven by a 14% jump in organic sales. Its core Electronic Instruments Group (EIG) business which accounts for around two-thirds of the business grew by 31% whereas its Electromechanical Group (EMG) segment was relative

Ametek Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report, Key Risks & ESG Assessment (04/2022)

The year 2021 was particularly good for Ametek as the company delivered a strong operating performance, earnings above expectations, and better than expected sales growth. Strong demand is seen all over Ametek's diverse set of end markets, leading to a record backlog and robust order growth. However, the logistics and global supply chain networks along with inflation remain a challenge for the management. Ametek managed to carry out a high level of capital deployment that led to acquiring five s

Ametek Inc.: Financial & Price Forecasts, DCF Valuation, ESG & Other Risks (04/22)

Ametek had a very strong 2021 with earnings above expectations, strong operating performance, and better than expected sales growth. Strong demand is seen all over the company's diverse set of end markets, leading to a record backlog and robust order growth. However, the logistics and global supply chain networks along with inflation remain a challenge for the management. Ametek managed to carry out a high level of capital deployment that led to acquiring five strategic businesses. They are also

AMETEK, Inc. - Investment Thesis, Key Drivers, Financial & Price Forecasts, DCF Valuation 11/21

Ametek had another exceptional quarter, with better than expected sales growth, strong operating performance, and earnings that exceeded their expectations. Demand remained strong across its diverse end markets, resulting in strong order growth and a record backlog. While the global supply chain and logistics networks remain challenging, the management is doing an excellent job of navigating these issues and delivering results that exceed the market expectations. The company saw a staggering 28%

AMETEK, Inc. - Investment Thesis, Key Drivers, Financial & Price Forecasts, DCF Valuation 8/21

Ametek delivered exceptional results in the second quarter with compelling sales growth and excellent operating performance, leading to a high quality of earnings that exceeded the company's expectations. The company ended the quarter with a record backlog driven by robust and broad-based orders growth, providing strong visibility across their mid and long-cycle business profile. It is worth highlighting that their quarterly orders grew by $1.91 billion, a sharp increase of 92% compared to the p

Invinity Energy Systems - Funded to Cash Generation and More

Re-issued to correct for typographical errors.Invinity’s major equity fundraising is targeting a minimum of £56m with £25m already committed by the UK Infrastructure Bank (UKIB). A second strategic investment of £3m has been committed by Korean Investment Partners.  The raise will see Invinity to net cash generation, with over £30m of the raise supporting the company’s scale up ahead of this year’s launch of the next generation Mistral flow battery. The raise will boost the balance sheet, reduci

OPG Power Ventures - Positive update for FY March 2024

OPG Power has released a positive trading update for the year ended 31 March 2024, and now expects to exceed previous market expectations at the EBITDA and revenue level. The company continued to benefit from a stronger revenue run-rate during H2/24 compared with FY23, reflecting greater availability of profitable supply contracts, which in turn have enabled OPG to run at higher levels of plant utilisation. We are raising our revenue forecast for FY24 by 22% to £162m, and our EBITDA by 34% to £1

Hybridan Small Cap Feast - 17 May 24

17th May 2024 * A corporate client of Hybridan LLP ** Arranged by type of listing and date of announcement *** Alphabetically arranged **** Potential means Intention to Float (ITF) has been announced Dish of the day Admissions: Delistings: Scirocco Energy (SCIR.L) has left AIM. UK Commercial Property REIT (UKCM.L) has left the Premium Segment of the Main Market. What’s baking in the oven? ** Potential**** Initial Public Offerings: 7th May: Time To ACT plc, an engineering business focused on tech

Zeus Industrials Round-Up - 9 May 2024

Economic and industrial data has started the second quarter on slightly weaker grounds than Q1 as Manufacturing PMI in the UK, Eurozone and US all reported April indexes below March levels. Cracks seem to be appearing as recent drops in new orders and rising input costs are quickly dampening confidence. Inflation did, however, fall MoM across the board with the exception of the US, where volatile energy prices caused a modest MoM increase in the inflation rate.

Positive trading update

Todays trading update confirms revenue for FY22 at £5.3m and a result in-line with market expectations. With the benefit of the IPO proceeds Aurrigo has hired a further 18 employees in the UK and internationally, mainly to deliver its autonomous aviation solutions following the start of the second stage of development with Singapores Changi Airport Group in October 2022. The Company also reports growing engagement with other airport groups both for Auto-Dolly and Auto-Sim, its sophisticated airp

Judges Scientific+ (JDG, House Stock at 8,900p) - HY; strong order book, FY23F unchanged

SP Angel Spec Sits HERC.LN: Positive trading update

Hercules is likely to report growth in H1E of over 27% YoY. H1E is the seasonally weaker half and the reported likely outcome for revenues in H1E represents half of our FY24E revenue forecast. As the seasonally stronger half of the year progresses, upwards pressure could materialise on our forecasts. Together with a prospective lower interest rate environment and a potential re-rating of the infrastructure sector, we see share price upside ahead.

Hardman & Co Insight: 2023 was an annus horribilis for Quoted UK Infrastructure and Renewable Energy

The focus of Hardman & Co Research is on the nine quoted Infrastructure Investment Companies (IICs) and on the 22 Renewable Energy Infrastructure Funds (REIFs): the stocks analysed are all members of the Association of Investment Companies (AIC). We are updating our publication of January 2023, assessing both the lacklustre share price performances during 2023 and the key issues, including interest rates, inflation and power prices. As a 31-strong group, its combined market capitalisation is no

WH Ireland: Water Intelligence (WATR) - Strong, inline results hand in hand with positive trading update

Like WATR's recent Q1 trading update, this morning's commentary on current trading highlights a strong start to the current year and excellent demand fundamentals, including multi-billion dollar commitments from governments and the urgent needs of the insurance sector. WATR supplies in-demand water leak detection and related services across the whole of the US, and also in international markets including the UK, Australia and Canada. It operates a highly effective model which has seen consiste

Invinity Energy Systems - Funded to Cash Generation and More

Invinity’s major equity fundraising is targeting a minimum of £50m with half already committed by the UK Infrastructure Bank (UKIB). A second strategic investment of £3m has been committed by Korean Investment Partners.  The raise will see Invinity to net cash generation, with £30m of the raise supporting the company’s scale up ahead of this year’s launch of the next generation Mistral flow battery. The raise will boost the balance sheet, reducing counterparty risk and unlocking sales and bigger

Clean and competitive fertiliser

SDI Group - Interims – Some destocking seen – FY24E EPS reduced by 19%

SDI released interim results showing mixed trading in challenging markets. As anticipated, the completion of the exceptional Covid-related camera orders resulted in a reduction at Digital Imaging, offset by Sensors & Controls revenue growth of 40%. Some customer destocking is being seen as well as softer markets in China and Germany. As a result, the outlook points to FY24E adj PBT of between £7.9m-8.4m. This leads us to downgrade our Adj PBT by 18% to £7.9m, with a reduction in adj EPS of 19% t

Building the airport of tomorrow today

Aurrigo is developing autonomous solutions to automate airside baggage and cargo handling operations that are otherwise labour intensive, costly, inefficient and critically understaffed. The business case and projected economics are compelling. Management is expecting to begin live flight testing at Changi Airport Group (‘CAG’), its lead customer, in late 2023 followed by airport rollout in late 2024. September’s IPO has provided the funding to scale Aurrigo’s operations to complete the remainin

Tracking to plan

The Group has delivered full-year results that are in-line with expectations. Key highlights since September’s IPO include: the signing of a multi-year partnership agreement with Changi Airport Group for the joint development and testing of autonomous baggage vehicles and the Group’s airport simulation software; development of next generation Auto-Dolly and Auto DollyTug Mark 3 vehicles; and investment in personnel to scale operations. FY2023 holds the promise of further positive news flow with

Vehicle development driving commercial opportunity

The formal partnership with Changi Airport Group (‘CAG’) has re-enforced Aurrigo’s leading position in autonomous vehicles for the aviation sector with ground testing of both Auto-Dolly and Auto-DollyTug in Singapore. This has enabled the Group to showcase its technology to other airport groups and stakeholders that has delivered an acceleration in interest for future deployments within Europe and North America. This should hopefully deliver additional partnerships in due course, as envisaged at