United Parcel Service (UPS): Acquisition of Bomi Group & Other Drivers, Financial Forecasts, DCF & Comparables Valuation, ESG & Other Risks (01/23)

Despite the world economy slowing down in the third quarter, particularly outside the U.S., UPS managed an all-around beat. International and freight forwarding volumes were difficult and the company adjusted its network to volume levels to maintain its lead in the most lucrative areas of the industry. The execution of their customer-first, people-led, innovation-driven strategy has fundamentally improved many parts of their business, resulting in stronger operating margins. Moreover, they stren

United Parcel Service Inc.: Expansion In The Indian Market & Other Developments, Financial Forecasts, DCF & Comparables Valuation, ESG & Other Risks (08/22)

UPS managed to deliver an all-around beat in the past quarter despite the fact that its macro environment remained dynamic. In spite of the decline in volume, UPS continues to win in maximum parts of the market, having strong gains in revenue quality. This is why the company’s consolidated revenue rose, and the operating profit also grew. All segments of the business have delivered growth in the operating profit. In some parts of the market like B2B, healthcare, SMBs, and particular large enterp

United Parcel Service Inc.: Financial & Price Forecasts, DCF & Comparables Valuation, ESG & Other Risks (05/22)

UPS had a decent start to 2022 with the quarterly result indicating a rise in revenue and operating profit, and the expansion of operating margin. The company is investing in the capabilities that customers are more concerned with and is winning in its end-to-end networks such as large enterprise accounts, B2B, healthcare, and SMBs by gaining market share. UPS has made two important enhancements for digitizing the onboard experience so that SMBs can easily ship with it. The company has recently

United Parcel Service, Inc.: Financial & Price Forecasts, DCF Valuation, ESG & Other Risks 02/22

UPS results exceeded market expectations and the company saw consolidated revenue increasing 15% to $97.3 billion compared to last year. Their healthcare portfolio generated more than $8 billion in revenue in 2021 and was a major growth driver. With its global footprint of healthcare facilities and cold chain solutions, it has been serving a complex set of customer requirements. In the previous quarter, demand for forwarding products has also remained strong. As a matter of fact, ocean shipments

United Parcel Service, Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report, Key Risks & ESG Assessment (02/2022)

UPS has a strong position in an oligopolistic logistics markets and has recently benefitting from healthcare tailwinds. Its healthcare portfolio generated more than $8 billion in revenue in 2021 and was a major growth driver. With its global footprint of healthcare facilities and cold chain solutions, it has been serving a complex set of customer requirements. In the previous quarter, demand for forwarding products has also remained strong. As a matter of fact, ocean shipments increased by doubl

FedEx vs. United Parcel Service - Which Logistics Behemoth Is More Financially Sound?

With the holiday season around the corner and the increasing fear of the Omicron variant, one would believe that logistics players like FedEx and UPS are expected to have a tough time ahead. The new restrictions as a result of Omicron add to the companies' existing troubles with respect to labor and supply chain issues despite the fact that both these logistics majors have invested heavily in upgrading their infrastructure to meet the new demand. While their long-term outlook remains positive gi

United Parcel Service - Investment Thesis, Key Drivers, Financial & Price Forecasts, DCF Valuation 11/02

UPS delivered yet another all-around beat with a 9.2% year-over-year growth in revenues driven by a robust demand for e-commerce-related package deliveries. The company managed show a decent growth across all its segments in the recent result. Despite inflationary pressures, UPS also managed to grow its operating profit by a staggering 23.4% in the quarter. The company’s U.S. Domestic Package revenues increased 7.4% in the quarter whereas its International Package revenues were up by 15.5%. Its

United Parcel Service - Investment Thesis, Key Drivers, Financial & Price Forecasts, DCF Valuation

UPS delivered another all-round beat but the company’s stock has slipped to a three-month low. Market forces are considering new headwinds associated with the logistics giant such as the expected relative slowness of e-commerce deliveries as against 2020 coupled with inflationary fears, higher compensation expense from union contract rate increases starting from August 2021, and so on. The company had been a heavy beneficiary of the e-commerce boom caused by the pandemic but with the tailwinds r

Morning Note – 22 April 2024

Headlam Group - Strategy for growth in tougher market

Headlam Group has laid out an ambitious long-term revenue target of between £900m and £1bn, as it seeks to grow its share of the UK floor coverings distributor market. Despite a challenging backdrop due to the low level of residential housing transactions, management is seeking to expand each of its sales channels: Trade Counters, Larger Customers, Regional Distribution and Europe & Other. The FY23 results reflected the more challenging environment and the group trades at a discount to its long-

SP Angel Spec Sits: FY Trading Update (LTHM)

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

SP Angel Morning View: Copper prices hit $9,700/t as China smelts concentrates for zero charge Tc/Rc

LIBERUM: Ilika: CMD confirms operational progression

LIBERUM: Severfield: Erratum: Better EPS and cashflow, and buyback

LIBERUM: CEO Video: Matt Wragg, Gattaca plc:

VSA Morning Flow Test 19/04/24 (Quadrise)

Quadrise (QED LN) has provided an update on its Utah project with Valkor. Valkor’s partner (Heavy Sweet Oil LLC) has received funding and approval to commence drilling enabling production of 20-40bopd of heavy sweet oil providing QED with samples for production of test scale quantities of MSAR and bioMSAR; the company’s key fuel decarbonising emulsion fuel products. This should derisk the commercial scale ramp up. QED management has highlighted that Valkor has not yet raised the minimum of US$

Hybridan Small Cap Feast - 22 April 2024

22nd April 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: What’s baking in the oven? ** Potential**** Initial Public Offerings: Reverse Takeovers: 16 April 2024: Electric Guitar (ELEG.L) Concurrent with its Admission to trading on AIM, Electric Guitar is proposing to acquire the entire issued share capital of 3radi

AUCTUS ON FRIDAY - 19/04/2024

AUCTUS PUBLICATIONS ________________________________________ Tethys Oil (TETY SS)C; target price of SEK100 per share: Increasing further the size of the prize/Considering Algeria – The South Lahan area on Block 58 is estimated to hold 55-523 mmbl prospective resources (P90-P10 case) with a mean case of 251.8 mmbbl prospective resources across six prospects in the Ara Carbonate. Combined with the previously disclosed prospective resources of the Fahd area in the north-eastern part of Block 58, Te

LIBERUM: Gattaca: Resilient contract performance, perm tough

LIBERUM: SigmaRoc: Solid Q1 performance

Q1 Operating Results

Another Good Year of Diversified Growth with More to Come in 2024 CCapital have released their Q1 operating results. Overall, revenue has come in slightly lower than expected at $80.2m vs TamE of $85.9m but is largely tracking in line with our FY24 annual estimate and we note the company has maintained guidance. Drilling revenue for this quarter was impacted by a fall in utilisaztion rates as well as general remobilisation geographically but we expect a strong recovery throughout the year as k

Morning Note – 26 March 2024