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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.
The FY24 year-end update is very upbeat signalling trading being materially ahead of expectations, with a better-than-expected profit out turn and stronger cash generation. It continues to strengthen margins through efficiencies and investment in modern equipment. The order book remains close to record levels providing a robust view of future forecasts. In FY24E we upgrade EPS by 11% and in FY25E a significant upgrade of 27.6%. It looks capable of declaring a dividend in FY25 as well as manageme
Companies: Renold plc
Cavendish
Companies: BILN ELCO NXQ CUSN ATG
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
Companies: Capital Limited
Tamesis Partners
FY23 results show very strong growth over FY22, driven by strong Structural Steel activity, with results slightly ahead of upgraded profit expectations, while stronger than expected cash flow resulted in an unexpectedly generous dividend of 33p (offering a FY23 yield of 7.0%). The group now has net cash of £22.1m and is debt free and is therefore in a strong position for potential M&A activity. Following the recent £90m of new orders to increase the order book to record levels we conservatively
Companies: Billington Holdings Plc
Plant Health Care announced it has signed a distribution agreement with AMVAC, an American Vanguard Company, to support commercialisation of novel fertiliser products incorporating Plant Health Care's Harpinαβ in China starting in 2024. The novel product combines Harpinαβ technology with an AMVAC fertiliser and is expected to help growers improve crop quality and yield as part of an integrated and environmentally responsible crop production programme. AMVAC continues to evaluate Plant Health Car
Companies: Plant Health Care PLC
Companies: 88E RNO TRIN KRM EXR BOOM
discoverIE’s March year-end update confirms a strong operational performance in challenging markets. Following two years when sales increased by +48%, FY 2024 Group sales were +1% ahead of 2023 at CER (reported -3%) driven by a +2% contribution from acquisitions and organic -1%. As expected, organic growth returned in the later part of the year (Q4 +2%, +11% sequentially) and the order book has reverted to normalised levels of c.4.5 months’ sales, which – combined with a continuing strong pipeli
Companies: discoverIE Group PLC
Severfield’s trading update indicates that FY23 results are expected to slightly exceed market expectations and the company ends the year with a record UK and Europe order book. Furthermore, with a positive trading outlook and net debt coming in lower than expected, Severfield has announced a £10m share buyback, highlighting the cash-generative nature of the company and management’s confidence in its position. The stock trades on an FY25 P/E of less than 6x and yields 7%, which we believe appear
Companies: Severfield Plc
Edison
Companies: Iofina plc
Canaccord Genuity
Companies: PLL TLG HZM SAV KAV KP2 SVML
SP Angel
Acquisitions have been an important element of Severfield management’s growth strategy, with the aim of adding new products, sectors and regions to what we have identified as exciting long-term organic opportunities. In this Spotlight report, we focus on the group’s targeted M&A approach, highlighting three significant deals.
Progressive Equity Research
Liberum
Invinity’s update on discussions with strategic investors reveals interest from multiple parties. While this has slightly delayed finalising an agreement it increases the potential for a better outcome. Although details are unknown at this stage, we think there is enough in the statement to be comfortable that any agreements will be consistent with the company’s strategy of growing market share in core markets and using a licencing and royalty model in other markets.
Companies: Invinity Energy Systems PLC
Longspur Clean Energy
Severfield’s full-year results to March will be ‘slightly above’ the Board’s expectations, according to today’s trading update, with net debt significantly better. We maintain our PBT estimates for both forecast years, which are ahead of consensus, but reduce our net debt for FY24E. Record orders were boosted by the steel specialist’s European operations, after last year’s Voortman acquisition, while the Indian JV has seen ‘another step up in profitability’. The group has also launched its first
Companies: ATOME PLC
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