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3M delivered a mixed set of results amidst the challenging economic environment with supply chain disruptions, inflation, and slowing growth. The company did manage to surpass the revenue expectations of Wall Street but missed out on meeting earnings expectations. Because of Covid-related disruptions, 3M saw a significant slowing in China and modernizing demand over industrial markets. The company recently announced restructuring its manufacturing operations as it saw the demand trends extend in
Companies: 3M Co (MMM:NYSE)3M Company (MMM:NYS)
Baptista Research
3M delivered a mixed set of results for the last quarter as it failed to meet revenue expectations of Wall Street but managed an earnings beat. Transportation, Electronics, Safety, Industrial, Consumer, and Health Care all experienced organic growth of 3%. Every business segment produced margins higher than 21%, with noteworthy margin growth in the safety, industrial, transportation, and electronics sectors. This is what helped them deliver an earnings beat. The management keeps investing in gro
Apart from being known as one of the most innovative companies in today’s times, 3M also has a strong reputation of successful restructuring and cost management which has helped the industrial conglomerate survive through many challenging business cycles. The company delivered solid quarterly results surpassing Wall Street expectations on all counts while navigating the continued inflationary pressures and supply chain challenges. The company continues to benefit from strong spending discipline,
Companies: 3M Company (MMM:NYS)Mining, Minerals & Metals plc (MMM:LON)
3M had a strong start to 2022 in a challenging global environment. The company performed well in the first quarter while managing supply chain disruptions, inflation, and geopolitical pressures. 3M delivered a 2% organic growth in the quarter along with sequential margin improvement, and strong cash generation. Demand is strong overall, though the global economic outlook has weakened due to challenges in certain end markets, an ever-changing Covid-19 impact, and recent geopolitical events. 3M co
3M recent revenue performance has been strong on account of the healthcare business, particularly the increase in respiratory demand due to the Omicron variant's impact. The company’s organic growth has been slow and it has witnessed an adverse margin impact of supply chain disruptions, inflation, and Covid-19 but its cost control measures have been strong. 3M's selling price actions gained traction in the last quarter with a year-over-year increase of 2.6%. The company has a strong cash positio
3M had a strong fourth quarter, capping off a fairly decent 2021 despite a rapidly changing external environment. Its revenue in the quarter exceeded expectations across the board, including an increase in respiratory demand due to the Omicron variant's impact. The company’s organic growth has been slower than expected, at 1%, down from 6% in the previous quarter, with earnings being boosted by a strong December execution and a lower-than-expected tax rate. It is worth highlighting that 3M saw g
3M reported another solid quarter with a 7.1% top-line growth and a 6.3% increase year-on-year in organic revenues, comfortably surpassing Wall Street expectations. The company saw a high-single-digit growth across all key segments, particularly the core Safety and Industrial segment which grew by 7.2% and the Consumer segment which grew by 8.1%. However, the company continued to face inflationary pressure including higher costs related to polypropylene, ethylene, resins and labor. The global se
3M managed to deliver yet another all-around beat but its outlook for the rest of the year has been disappointing. The industrial conglomerate, known to produce everything from post-its and adhesives to industrial sandpaper and N95 masks saw a recovery in many of its key segments but has been facing strong inflationary pressures. 3M witnessed surging raw material and freight costs which are likely to lower its 2021 margins. Moreover, the company, which is the largest American producer of N95 mas
Research Tree provides access to ongoing research coverage, media content and regulatory news on 3M Company. We currently have 0 research reports from 2 professional analysts.
Supreme’s FY24 trading update confirms a record performance in the 12 months to 31 March 2024. Organic revenue and profit growth across all four divisions has driven Group revenue +45% YOY to £225m, with FY24 adj. EBITDA almost doubling to ‘at least £38m’, driving record levels of cash generation. Supreme is actively exploring complementary M&A, supported by a debt free balance sheet. Trading on an undemanding FY25 PE of just 6.7x, with a 3.4% yield, we believe downside risks are more than price
Companies: Supreme PLC
Zeus Capital
Companies: FOG PHC FEN BBSN ELIX
Cavendish
Companies: MPE TRI VNET BVXP HVO
Shore Capital
Vianet has published a positive trading update for FY24 with turnover up 7.6% to £15.18m, a 3.5 percentage point increase in gross margin YoY, and adjusted EBITA ahead of market expectations. Net debt continues to fall and closed FY24 at £1.52m (£2.1m at 30 September 2023), demonstrating strong free cash flow generation, even without the benefit of the £0.9m tax receipt received in 1H24, which augers well for a final dividend. The company reported a new contract with Wilcomatic Wash Systems, the
Companies: Vianet Group plc
Capital Access Group
Renewi’s FY24 trading update was in line with management’s expectations and its improved cash generation is reassuring for investors. Attention is now likely to turn the strategic review of the UK Municipals with management stating that they remain on track to update markets by the end of June. This could lead to an exit of key liabilities and leave Renewi as an attractive circular economy investment with strong market positions and organic growth plans, which should assist in generating value,
Companies: Renewi Plc
Edison
Vianet’s FY24 trading update shows FY24 revenue +1% ahead of our previous forecast, adjusted EBITA +2% ahead, EFCF and net debt +£0.6m ahead, and a strategic new customer win with prominent forecourt operator Wilcomatic. A robust FY25 pipeline and outlook leads us to reiterate our FY25E forecasts at this point, with the update highlighting: strong progress renewing and winning new customers on 3-5 year contracts as they migrate from 3G to Vianet’s advanced 4G LTE solutions; the successful integr
Companies: James Latham Plc
SP Angel
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-
Companies: Headlam Group plc
Norcros has announced the sale of its Johnson Tiles UK business to the current management team for a consideration of £1.0m, with a further modest earnout based on the equity value of the business, both payable in April 2028.
Companies: Norcros plc
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
Companies: AEIT ROOF DGI9 INPP GSF SEIT USFP HICL ORIT BSIF TRIG NESF SEQI HEIT GRP GCP FSFL 3IN AERI PINT RNEW BBGI GSEO DORE TENT GRID CORD HGEN AEET
Hardman & Co
Companies: CLA STM GLN FXPO KAV GWMO CEY BHP THX EEE
Norcros’s disposal of Johnson Tiles is the latest strategic activity taken by management to better allocate capital to fit with priorities. Last year it closed its UK adhesives operation. Norcros has a compelling investment case, where its new product development initiatives, market positioning and self-help initiatives allow it to take market share in both the UK and South Africa. Its rating is low at 6.0x FY24e P/E, which is attractive, especially when compared to its yield of 5.4% on its well
24th 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
Companies: FTC AGL SRT SOU G4M AOM SUP
Hybridan
Companies: Ilika plc
Liberum
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