Oil Paintings – Song Haizeng http://songhaizeng.com/ Wed, 28 Sep 2022 11:14:00 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://songhaizeng.com/wp-content/uploads/2021/05/default-138x136.png Oil Paintings – Song Haizeng http://songhaizeng.com/ 32 32 Global Cannabis Controlled-Release Pills Market Overview 2022: Analysis and Forecast to 2027 by Manufacturers, Regions, Technology, Application, Product Type – ResearchAndMarkets.com https://songhaizeng.com/global-cannabis-controlled-release-pills-market-overview-2022-analysis-and-forecast-to-2027-by-manufacturers-regions-technology-application-product-type-researchandmarkets-com/ Wed, 28 Sep 2022 11:14:00 +0000 https://songhaizeng.com/global-cannabis-controlled-release-pills-market-overview-2022-analysis-and-forecast-to-2027-by-manufacturers-regions-technology-application-product-type-researchandmarkets-com/ DUBLIN–(BUSINESS WIRE)–The “Global Cannabis Controlled-Release Pills Market Outlook 2022, Analysis and Forecast to 2027, by Manufacturers, Regions, Technology, Application, Product Type” report has been added to from ResearchAndMarkets.com offer. This report depicts the global cannabis controlled release pill market size from 2017 to 2021 and its CAGR from 2017 to 2021, and also forecasts its […]]]>

DUBLIN–(BUSINESS WIRE)–The “Global Cannabis Controlled-Release Pills Market Outlook 2022, Analysis and Forecast to 2027, by Manufacturers, Regions, Technology, Application, Product Type” report has been added to from ResearchAndMarkets.com offer.

This report depicts the global cannabis controlled release pill market size from 2017 to 2021 and its CAGR from 2017 to 2021, and also forecasts its market size through the end of 2027 and its CAGR from 2022 to 2027.

For geography segment, regional supply, demand, major players, price is presented from 2017 to 2027. Key countries for each region are also included such as United States, China, Japan, India, Korea, ASEAN, Germany, France, UK, Italy, Spain, CIS and Brazil, etc.

For competitor segment, the report includes global key players of Cannabis Controlled Release Pills as well as some small players.

Information for each competitor includes:

  • Company profile

  • Main company information

  • SWOT analysis

  • Sales Volume, Revenue, Price and Gross Margin

  • Market share

Application Segment:

  • Hospital pharmacies

  • Retail pharmacies

  • Pharmacies

  • Online sales

Segment Type:

  • High THC capsule

  • Balanced THC/CBD capsules

  • CBD-rich capsules

Companies covered:

  • Cannabis Pharmaceuticals

  • Wana Edibles

Scope

  • Reference year: 2022

  • Historical data: from 2017 to 2021

  • Forecast data: from 2022 to 2027

Main topics covered:

Chapter 1 Executive Summary

Chapter 2 Abbreviations and Acronyms

Chapter 3 Preface

3.1 Scope of research

3.2 Research sources

3.2.1 Data sources

3.2.2 Assumptions

3.3 Research method

Chapter 4 Market Landscape

4.1 Market Overview

4.2 Classification/Types

4.3 Application/end users

Chapter 5 Market Trend Analysis

5.1 Presentation

5.2 Drivers

5.3 Constraints

5.4 Opportunities

5.5 Threats

5.6 Impact of Covid-19

Chapter 6 Industry Chain Analysis

6.1 Upstream/Supplier Analysis

6.2 Cannabis Controlled Release Pills Analysis

6.2.1 Technology Analysis

6.2.2 Cost analysis

6.2.3 Market Channel Analysis

6.3 Downstream Buyers/End Users

Chapter 7 Latest Market Dynamics

7.1 Latest news

7.2 Merger and acquisition

7.3 Planned/future project

7.4 Policy dynamics

Chapter 8 Business Analysis

8.1 Export of Cannabis Controlled-Release Pills by Region

8.2 Import of Cannabis Controlled-Release Pills by Region

8.3 Balance of trade

Chapter 9 North America Cannabis Controlled Release Pills Market History and Forecast (2017-2027)

9.1 Cannabis Controlled Release Pills Market Size

9.2 Cannabis Controlled-Release Pills Demand by End Use

9.3 Competition by players/suppliers

9.4 Type Segmentation and Price

9.5 Key Countries Analysis

9.5.1 United States

9.5.2 Canada

9.5.3 Mexico

Chapter 10 Historical and Forecast South America Cannabis Controlled-Release Pills Market (2017-2027)

10.1 Cannabis Controlled Release Pills Market Size

10.2 Cannabis Controlled-Release Pills Demand by End Use

10.3 Competition by players/suppliers

10.4 Type Segmentation and Price

10.5 Key Countries Analysis

10.5.1 Brazil

10.5.2 Argentina

10.5.3 Chile

10.5.4 Peru

Chapter 11 Asia & Pacific Cannabis Controlled-Release Pills Market History and Forecast (2017-2027)

11.1 Cannabis Controlled Release Pills Market Size

11.2 Cannabis Controlled-Release Pills Demand by End Use

11.3 Competition by players/suppliers

11.4 Type Segmentation and Price

11.5 Key Countries Analysis

11.5.1 China

11.5.2 India

11.5.3 Japan

11.5.4 South Korea

11.5.5 Southeast Asia

11.5.6 Australia

Chapter 12 Europe Cannabis Controlled Release Pills Market History and Forecast (2017-2027)

12.1 Cannabis Controlled Release Pills Market Size

12.2 Cannabis Controlled-Release Pills Demand by End Use

12.3 Competition by players/suppliers

12.4 Type Segmentation and Price

12.5 Key Countries Analysis

12.5.1 Germany

12.5.2 France

12.5.3 United Kingdom

12.5.4 Italy

12.5.5 Spain

12.5.6 Belgium

12.5.7 Netherlands

12.5.8 Austria

12.5.9 Poland

12.5.10 Russia

Chapter 13 MEA Cannabis Controlled Release Pills Market History and Forecast (2017-2027)

13.1 Cannabis Controlled Release Pills Market Size

13.2 Cannabis Controlled-Release Pills Demand by End Use

13.3 Competition by players/suppliers

13.4 Type Segmentation and Price

13.5 Key Countries Analysis

13.5.1 Egypt

13.5.2 Israel

13.5.3 South Africa

13.5.4 Gulf Cooperation Council Countries

13.5.5 Turkey

Chapter 14 Global Cannabis Controlled Release Pills Market Summary (2017-2022)

14.1 Cannabis Controlled Release Pills Market Size

14.2 Cannabis Controlled-Release Pills Demand by End Use

14.3 Competition by players/suppliers

14.4 Type Segmentation and Price

Chapter 15 Global Cannabis Controlled Release Pills Market Forecast (2022-2027)

15.1 Cannabis Controlled Release Pills Market Size Forecast

15.2 Cannabis Controlled Release Pills Demand Forecast

15.3 Competition by players/suppliers

15.4 Type Segmentation and Price Forecast

Chapter 16 Global Major Suppliers Analysis

16.1 Cannabis Pharmaceuticals

16.1.1 Company Profile

16.1.2 Major Business and Cannabis Controlled Release Pills Information

16.1.3 SWOT Analysis of Cannabis Pharmaceuticals

16.1.4 Cannabics Pharmaceuticals Controlled-Release Cannabis Pills Sales, Revenue, Price and Gross Margin (2017-2022)

16.2 Wana Edibles

16.2.1 Company Profile

16.2.2 Major Business and Cannabis Controlled Release Pills Information

16.2.3 SWOT Analysis of Wana Edibles Products

16.2.4 Wana Edibles Controlled-Release Cannabis Pills Sales, Revenue, Price and Gross Margin (2017-2022)

For more information on this report, visit https://www.researchandmarkets.com/r/sp2te4

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Commercial Satellite Launch Market 2022 | Production, Type, Price and Gross Margin to 2029 | ISRO, NASA, Antrix Corporation, COSMOS International https://songhaizeng.com/commercial-satellite-launch-market-2022-production-type-price-and-gross-margin-to-2029-isro-nasa-antrix-corporation-cosmos-international/ Mon, 26 Sep 2022 10:10:53 +0000 https://songhaizeng.com/commercial-satellite-launch-market-2022-production-type-price-and-gross-margin-to-2029-isro-nasa-antrix-corporation-cosmos-international/ The study on the Global Commercial Satellite Launch Services Market research 2022-2029 insight examines active growth trends, marketing methods, and industry contributions of leading companies past and present. The detailed framework, classification, competitive insights, and recent strategic activities are all summarized in detail in the Commercial Satellite Launch Service market study. A group of researchers […]]]>

The study on the Global Commercial Satellite Launch Services Market research 2022-2029 insight examines active growth trends, marketing methods, and industry contributions of leading companies past and present. The detailed framework, classification, competitive insights, and recent strategic activities are all summarized in detail in the Commercial Satellite Launch Service market study. A group of researchers presented a demand forecast, a systematic breakdown of methods and techniques, historical outlook, and industry estimates. The Commercial Satellite Launcher Market report checks the local and global industries and economic situation of the respective market.

Take a sample PDF copy of Commercial Satellite Launch Services Market: https://marketresearchexpertz.com/report/global-commercial-satellite-launchrvice-market-491132#request-sample

The investigation emphasizes the capability of the Global Commercial Satellite Launch Vehicles Market industry to implement in the foreseeable future. This industry research surveys the most important global companies in the industry from top to bottom. Thereafter, the study verifies and assesses the existing situation of the industry as well as the current and prospective dominance of COVID-19 pandemic on the Commercial Satellite Launcher industry. The Crucial Industry Commercial Satellite Launch Vehicles market size has been derived with the help of profiles of major vendors in the global Commercial Satellite Launch Vehicles market.

Global Commercial Satellite Launch Services Market Survey:

The new survey shows that the global commercial satellite launch services market offers a cutting-edge perspective of desirable facts and figures of the commercial satellite launch services market. In addition to this, the innovative study covers various important factors including Commercial Satellite Launcher industry status, new industry trends, growth estimations, as well as growth opportunities. Moreover, it analyzes the special offers present in the forecast period of 2022 to 2029.

The report includes set of analytical resources such as SWOT analysis and Porter’s five forces analysis which are merged with primary and secondary methods. It uncovers all the fundamentals surrounding the global Commercial Satellite Launch Vehicles industry while expanding the competitive landscape for the Commercial Satellite Launch Vehicles market with comprehensive regional coverage.

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Global Commercial Satellite Launch Services Market Segmentation Review:

The research report gives up-to-date details and historical information on the Commercial Satellite Launch Services Market. The study also provides data on commercial satellite launcher market segmentation in terms of sales and revenue share.

Commercial Satellite Launch Services market players engaged in the industry:

Ariane Group
GK Launchrvices
Lockheed Martin
United Launch Alliance
Commercial space technologies
ISRO
Nasa
Antrix Company
COSMOS International
Launch at sea
Boeing
Orbital Science Society
SpaceX
Eurockot Launch Services
Mitsubishi Heavy Industries Launch Services

The commercial satellite launch services market is categorized into product types:

LEO
MOE
GEO
HEO

Commercial Satellite Launch Services Market Segment By Application:

Navigation
Communication
Acknowledgement
Weather forecast
remote sensing

Regions/countries Scope:

North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, United Arab Emirates, Egypt, Nigeria and South Africa)

Request Sample PDF Brochure of Commercial Satellite Launch Services Market 2022-2029

Global Commercial Satellite Launch Services Market Research Findings:

By using this competitive hierarchy, you can uncover powerful insights related to the Global Commercial Satellite Launch Services Market. Additionally, it informs the reader about the best service offerings and techniques used by leading manufacturers in the global Commercial Satellite Launch Services market to overcome the rivalry. The world is scrutinized at a detailed level throughout the inspection of a certain industry. Throughout the predicted period, the reader will be able to understand and identify investors and decision makers by recognizing the global revenue of essential vendors, as well as the shared cost structure of key players.

The Global Commercial Satellite Launch Vehicles Market Report 2022 presents a comprehensive overview of the mainstream industry on the international platform. Our analysts have designed proprietary business environment and supply chain management for major vendors across multiple geographies to provide clients with clear insights on the Global Commercial Satellite Launch Vehicles Market.

This comprehensive study helps detect the consumer items and end-user industries driving the Commercial Satellite Launch Services Market growth and sales revenue. It also includes marketing statistics on supply chain threats that industry players are expected to witness in the coming years. The analytical study examines the impacts of the COVID-19 pandemic on the global Commercial Satellite Launch Services market and effective assessment of share, expansion rate, geographical terrain, various industry scenarios, and well Moreover.

Read the complete analysis report for a better understanding (description, table of contents, list of tables and figures and many more): https://marketresearchexpertz.com/report/global-commercial-satellite-launchrvice-market-491132

The Major Influence of the Global Commercial Satellite Launch Services Market:

• It records a comprehensive assessment of all opportunities and threats in the Commercial Satellite Launcher market.
• The Commercial Satellite Launchrvice market covers industry innovations and essential components.
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The following questions have been answered in the Commercial Satellite Launch Services Market report:

• What are the major developments in the Commercial Satellite Launcher market?
• What is the product and service portfolio of the main competitors?
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• How can we speed up the manufacturing process of Commercial Satellite Launcher market?
• What is the impact of the COVID-19 pandemic on the global Commercial Satellite Launch Services market?
• What are the key strategies employed by companies in the Commercial Satellite Launch Services market?
• What are the challenges faced by the vendors in the Commercial Satellite Launcher Market?

Customization of Commercial Satellite Launch Services Market Report Click Here: MarketResearchExpertz offers customizations according to specific business needs. The following customization options are available for the report –

Product Analysis: The Product Matrix gives a detailed comparison of the product portfolio for each company.

Geographical analysis: more detailed breakdown of North American market, European market, APAC market, Middle East and Africa market, Latin American market.

Company Information: Detailed profiling and analysis of other market players.

Contact us:

Samuel Johnson
Market research expert
Email: sales@marketresearchexpertz.com”
Website : https://marketresearchexpertz.com/
Address: 3626 North Hall Street (Two Oak Lawn), Suite 610, Dallas, TX 75219 USA.

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Splunk Stock: Buy It and Forget It (NASDAQ: SPLK) https://songhaizeng.com/splunk-stock-buy-it-and-forget-it-nasdaq-splk/ Fri, 23 Sep 2022 21:10:00 +0000 https://songhaizeng.com/splunk-stock-buy-it-and-forget-it-nasdaq-splk/ David Tran As the market retreats deeper and deeper into correction mode, now is a great time for brave investors to play long in fantastic companies that are out of fashion. The mid-cap tech space, in particular, is packed with fundamental powerhouses which are trading at sell-off levels, and investors with cash to deploy can […]]]>

David Tran

As the market retreats deeper and deeper into correction mode, now is a great time for brave investors to play long in fantastic companies that are out of fashion. The mid-cap tech space, in particular, is packed with fundamental powerhouses which are trading at sell-off levels, and investors with cash to deploy can benefit from some truly compelling entry points.

Splunk (NASDAQ: SPLK) is a company that deserves a special mention. This machine data platform is one of the most prominent names in big data analytics, and its technology is an essential tool that helps companies derive insights from data already generated from their internal systems. Year-to-date, Splunk shares are down about 30% – more modest than most tech peers, but still not in line with the broad fundamental gains the company has made recently, including completing largely its transition to a subscription-based business model.

Chart
Data by Y-Charts

I’m staying bullish on Splunk. This is a fantastic company that now has a powerful ARR base, cutting-edge technology widely regarded in the industry, and on its way to becoming extremely profitable thanks to its rich gross margin profile and its operating leverage opportunities.

Here is a comprehensive overview of what I believe to be Splunk’s main bullish drivers:

  • The use cases for Splunk are endless – In its early days, Splunk’s machine data mining capabilities were often used for security purposes to report and respond to anomalies within enterprise systems. But as Splunk has evolved, the company’s machine data capabilities are applicable in virtually every industry and across many functions.

  • Usage Based Pricing – Some of the best performing software inventory is usage-based, which means that revenue increases in proportion to the customer’s use of the product. Splunk’s platform is priced based on data volumes/compute power. As data volumes continue to explode and businesses push the boundaries of how they integrate data into operations and decision-making, Splunk has a tremendous opportunity to drive growth from its install base.

  • Splunk isn’t without competitors, but the company’s focus on machine data is unique. It is also the largest company in space. The company’s closest large public counterparts are monitoring companies such as Datadog (DDOG) and New Relic (NEWR), which primarily focus on monitoring the performance and availability of applications and infrastructure. Splunk focuses on visualizing and analyzing machine data (information passively generated by computers, phones, and other endpoints within networks). We also note that Splunk’s roughly $3.3 billion annual revenue scale makes it twice as big as its nearest competitor, Datadog.

  • Industry-Wide Recognition – More to the point above, it’s good to have competition as Splunk is also widely regarded as the best in class vendor for machine data analytics. Gartner, the software industry’s leading analyst and reviewer, awarded Splunk a “Leader” designation in the security information and event management space, and also named it the vendor with the most great execution capacity. These accolades do not come lightly to computer buyers when making a purchasing decision.

  • Significant opportunity for international expansion – Splunk has become a global brand, and it’s time for Splunk to seek more overseas opportunities. Currently, only about 35% of its revenue base comes from international markets (and an even smaller slice of about 20% of cloud business is overseas). I see a significant opportunity for Splunk to expand its presence outside of the US

In the shorter term, note that Splunk is one of the only tech companies in the second-quarter earnings season to raise its full-year outlook. This is in stark contrast to many other tech stocks that have cut their full-year forecasts, citing a number of issues ranging from slowing trading cycles to currency pressures. It’s important to note that one of the drivers here is that the weaker macro environment has caused many Splunk customers to delay their cloud migrations, leading to increased upfront license revenue.

Still, Splunk’s valuation drop in light of these strong results is puzzling (it’s only in sympathy with the rest of the market and doesn’t make sense on a stand-alone basis). At the current share price near $80, Splunk trades at a market capitalization of $13.00 billion. After clearing the $1.79 billion in cash and $3.87 billion in debt on Splunk’s most recent balance sheet, the company has the enterprise value is $15.08 billion.

The company’s latest revenue outlook is $3.35-3.40 billion, representing 25-27% year-on-year growth, up two points on the high and low from its previous fork. It’s also worth noting that the company expects pro forma operating margins now at 8%, six points higher than 2% in the year-ago quarter. ARR expectations are down, due to both currency conversion impacts and the aforementioned cloud migration delays.

Splunk Guidance Update

Splunk Forecast Update (Splunk Q2 Earnings Brief)

According to Splunk’s latest earnings outlook, the company is trading at 4.5x EV/FY23 turnover. If we look to FY24 (the year for Splunk ending January 2024), where the Wall Street consensus expects revenue growth of 19% year-over-year to $4.05 billion (data from Yahoo Finance), Splunk’s multiples compress further to just 3.7x EV/FY24 revenue.

The bottom line here: Splunk is a known quantity in the software industry and trades at an incredible opportune multiple. Don’t miss the chance to get into this stock at what I consider a very low risk price.

Download Q2

Now let’s take a closer look at Splunk’s latest Q2 results. The second quarter revenue summary is shown below:

Splunk Q2 Results

Splunk Q2 Results (Splunk Q2 Results Folder)

Splunk’s revenue rose 32% year-on-year to $798.8 million, well beating Wall Street expectations of $737.0 million (+22% year-on-year). The main driver here, as noted earlier, is higher-than-expected licensing revenue, due to customers lagging behind in their cloud transitions.

Still, we don’t think there’s any need to worry about the long-term viability of Splunk’s recurring revenue buildup. Splunk further increased total ARR in the quarter to $3.33 billion, up 27% year-over-year, and added $121 million in net new ARR in the quarter.

And as the chart below shows, the company now has 723 customers that generate total ARR over $1 million, adding 33 such customers in the quarter (up from 15 in Q1).

Splunk Customer Trends

Splunk Customer Trends (Splunk Q2 Earnings Brief)

Here are some helpful anecdotal comments from CEO Gary Steele on what the company is seeing from its end customers, during his prepared remarks on the second quarter earnings call:

We continue to see good customer engagement in the quarter with strong competitive win rates, consistent with what we have seen over the past two years, high net retention rate and good business momentum. We ended the quarter with 723 customers with total annual recurring revenue or ARR of more than $1 million, up 33 customers from last quarter and up 24% year over year.

Despite our strong revenue and results, our cloud ARR and total ARR fell short of our own expectations. This was largely due to the slowdown in a number of larger cloud migrations and expansions as customers became more cautious with their Q2 budgets. As many of our customers transitioned to shorter-term engagements with Splunk beginning in the second half of the quarter, this lower than expected cloud adoption resulted in lower Cloud ARR and therefore the total ARR.

Our customers tell us that they understand the importance of moving to the cloud and are staying on their path to migrate and expand their highly complex infrastructure over time. Cloud transformation is a time-consuming and cost-intensive strategy, as we’ve talked about on these calls, and we’re keeping pace with our customers. Even given the short-term pressures, our competitively high success rates indicate that our customers continue to choose Splunk.”

Outside of the top line, Splunk has also made great strides on the margins. Pro forma gross margins in the quarter increased sharply to 78.5%, up 340bps year-on-year; driven by an increase of nearly nine points in cloud gross margins to 69.3%:

Splunk Gross Margin Trends

Splunk Gross Margin Trends (Splunk Q2 Earnings Folder)

Likewise, the company achieved a positive pro forma operating margin of 4% in the second quarter, an increase of twenty-four points from -20% in the second quarter of the previous year: reflecting the benefits of having a largely mature subscription transition. The company’s pro forma operating forecast of 8% for the year is a big jump from the -8% the previous year.

Splunk's Operating Leverage

Splunk Operating Leverage (Splunk Q2 Earnings Brief)

Key points to remember

Splunk is one of the few fast-growing software companies that has grown large enough to allow for profit expansion. Take advantage of recent market pessimism to position yourself. The recovery may be slow, but I view Splunk’s current multiple as a safe entry point.

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KMD Brands posts 6.2% growth in the year https://songhaizeng.com/kmd-brands-posts-6-2-growth-in-the-year/ Tue, 20 Sep 2022 23:03:44 +0000 https://songhaizeng.com/kmd-brands-posts-6-2-growth-in-the-year/ KMD Brands Ltd. said its sales increased 6.2% in the year ended July 31. These gains were driven by continued sales growth at Rip Curl, the highest sales ever in Kathmandu in the fourth quarter and record order demand for Oboz products. All amounts are in New Zealand dollars unless otherwise stated. Sales reached $979.8 […]]]>

KMD Brands Ltd. said its sales increased 6.2% in the year ended July 31. These gains were driven by continued sales growth at Rip Curl, the highest sales ever in Kathmandu in the fourth quarter and record order demand for Oboz products.

All amounts are in New Zealand dollars unless otherwise stated.

Sales reached $979.8 million, a record for KMD Brands. Growth was supported by sales growth at Rip Curl and Kathmandu.

Gross margin held at 58.9% despite high international freight costs and raw material cost pressures.

Operating expenses reflect higher labor and rent costs relative to sales, supporting teams during significant periods of COVID-related store closures, particularly in the first quarter. The Group also increased its investments in brand marketing and ESG to drive future brand growth (+$18.6 million year-on-year increase).

EBITDA of $92.0 million was down 16.0% from $109.5 million a year ago. The decline reflects the impact of the first quarter Australasian lockdowns and the COVID disruption to Oboz’s supply chain. Total profit was $36.8 million, down 40.0%.

Rip Curl: Sales growth across all channels

Rip Curl’s results were supported by sales growth across all channels, with total sales up 9.5% to $536.8 million. Europe, Hawaii and Southeast Asia in particular saw strong sales growth.

Wholesale sales increased 16.5% with less COVID-related disruptions in the first half of FY22 sales period and continued strong growth in the second half. Rip Curl’s wholesale futures order books remain significantly above pre-COVID levels. The wholesale channel now represents a similar level of sales as the retail channel. The direct-to-consumer (DTC) channel, encompassing owned and online retail stores, generated comparable store sales growth of 3.9%.

EBITDA decreased due to high international freight costs and planned investments in continued long-term brand development in key markets.

Kathmandu: Good performance of the winter season

Kathmandu’s performance was supported by a strong winter season, with fourth quarter sales and gross margin higher than fiscal 2019 (pre-COVID). Total sales rose 6.8% to $381.6 million, with a strong rebound from the closings. The wholesale channel strategy has been launched, representing a substantial global growth opportunity for the brand, with encouraging early wholesale orders taken from a number of retailers in Europe and Canada.

DTC still accounts for nearly all of Kathmandu’s sales, with DTC’s same-store sales growth up 9.1%. Online sales increased by 24.9%, now representing 18.7% of total sales. The sales result was supported by continued investment in long-term brand value and an integrated loyalty base of nearly 2 million members.

Full year EBITDA declined slightly as profitability rebounded in H2 following the COVID-related lockdowns in H1. Kathmandu achieved the highest gross margin result ever. The pressure on raw material and international freight costs was more than offset by the monetary advantage and the deliberate strategy to carefully moderate the historical “high-low” pricing model. Brand momentum is built from renewed focus and investment in marketing and products.

Oboz: impacted by unprecedented and transient supply challenges

Oboz’s wholesale and online sales were heavily impacted by the three-month closure of Vietnamese factories and compounded by international freight delays, with approximately 40% of FY22 orders unable to be fulfilled. executed. Factories resumed full production during the third quarter, with sales growth picking up as inventory levels recovered in the fourth quarter.

EBITDA reflects the lower level of sales and the increase in international freight costs. Brand momentum remains strong with FY23 forward orders supporting the path to Oboz’s $100 million mid-term revenue goal, and online performance indicates significant growth opportunity.

Comments from the CEO and Group Managing Director

Commenting on the FY22 results, Group CEO and Managing Director Michael Daly said, “KMD Brands has continued to deliver strong results over the past 12 months while facing significant COVID challenges in the first semester. The strength of our brands was evident in record Group sales of nearly $980 million, with a strong return to sales growth across all our brands in the last quarter. Additionally, we have made significant progress in each of our strategic pillars to build global brands, grow our digital presence, leverage our operational excellence and be an ESG leader.

“Rip Curl achieved sales growth across all channels and in major international regions, particularly Europe, Hawaii and Southeast Asia, as we continue to invest in the long-term value of the Rip Curl’s wholesale order books remain well above pre-COVID levels, allowing us to better manage supply chain disruptions through short-term inventory investments.

“Despite being significantly impacted by COVID shutdowns and restricted travel in the first half of FY22, Kathmandu saw a strong rebound in the second half. The brand achieved its highest ever sales result record in Australia for the key winter promotion period in the fourth quarter, and its highest ever gross margin result in the second half Oboz continued its strong brand momentum, with record demand for products Oboz as COVID supply challenges resolved.

“With the effects of COVID now largely behind us and international travel returning, we are very focused on executing our growth strategy by expanding our global footprint, investing in digital platforms, leveraging excellence operational and leading the industry through sustainability and innovation.”

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Ceridian stock: Can’t justify its valuation (NYSE: CDAY) https://songhaizeng.com/ceridian-stock-cant-justify-its-valuation-nyse-cday/ Sun, 18 Sep 2022 15:12:00 +0000 https://songhaizeng.com/ceridian-stock-cant-justify-its-valuation-nyse-cday/ JHVEPhoto Stock selection is never more important than in a volatile market. Now is the perfect time, in my opinion, to weed out underperforming names and pile our portfolios with high-quality growth stocks that are currently trading at sell-off levels. However, the steep year-to-date declines are well deserved for some names that have long been […]]]>

JHVEPhoto

Stock selection is never more important than in a volatile market. Now is the perfect time, in my opinion, to weed out underperforming names and pile our portfolios with high-quality growth stocks that are currently trading at sell-off levels.

However, the steep year-to-date declines are well deserved for some names that have long been trading at levels completely disconnected from their fundamental performance. Ceridian (NYSE: CDAY) is an example here. The Canadian provider of HCM and payroll software has lost 40% of its value since the start of the year, but I still believe that the stock is quite generously valued for a company with relatively limited growth prospects and a brand of second order.

Ceridian recently rallied to year-to-date lows after a relatively strong second-quarter earnings release, but I consider that a rather weak rally in the soon-to-be bear market. reverse.

Chart
CDAY given by Y-Charts

Given the upward trend in Ceridian’s valuation despite very limited fundamental improvements, I take a bearish position on this security: investors with this name should take advantage of recent short-term gains and invest elsewhere.

Here’s a rundown of why I remain skeptical of Ceridian:

  • Low profile against cloud competitors. HCM is a very crowded space, dominated by Workday and Oracle (ORCL), and Dayforce is hardly a distant laggard.
  • Heavily in debt. Unlike many SaaS competitors that have large net cash balances, Ceridian has a net debt balance of nearly $1 billion.
  • Margin lags cloud peers. While Ceridian’s cloud revenue generates a low gross margin of 70% like its peers, Ceridian’s revenue weighting to floating and other low-margin services puts Ceridian’s overall GAAP gross margin at just 54% in its last quarter, below most SaaS peers and warranting a significant discount in its valuation multiple.
  • Confusing leadership structure, with Ceridian just elevating its COO to co-CEO status, while still reporting to the original CEO (seems to me like a catalyst for increased compensation). Recent examples like Salesforce (CRM) indicate that a two-CEO structure often doesn’t last or work well.

Valuation remains the biggest obstacle to a sound investment in Ceridian. At the current share price of nearly $59, Ceridian trades at a market capitalization of $9.02 billion. After deducting $371.2 million in cash and $1.22 billion in debt from Ceridian’s most recent balance sheet (net debt of $852 million), the company the enterprise value is $9.87 billion.

Meanwhile, for the current fiscal year, as shown in the chart below, Ceridian had revenue of $1.218-1.233 billion (+19-20% YoY) and adjusted EBITDA of 210-225 millions of dollars. This is a slight increase in both cases from an earlier outlook of $1.208 to $1.230 billion in revenue and $190 to $205 million in adjusted EBITDA:

Ceridian Guidance Update

Ceridian Guidance Update (Letter to Ceridian Q2 Shareholders)

This puts Ceridian’s valuation multiples at:

  • 8.0 x EV/FY22 turnover
  • 45.4x EV/adjusted EBITDA FY22

Those are absurd multiples for a company of Ceridian’s relatively lower caliber. The growth of high teens/young twenties is not warranted to warrant an 8x forward earnings multiple (there are SaaS stocks with a 30-40% growth range trading at similar multiples); Ceridian’s EBITDA is also not enough to justify its market value.

The bottom line here: I continue to see limited appeal for Ceridian. Its recent rally is more of a bear market head fake than the start of a rebound. Avoid here and sell.

Download Q2

Now let’s take a closer look at Ceridian’s latest Q2 results. The second quarter revenue summary is shown below:

Ceridian's Second Quarter Results

Ceridian’s Second Quarter Results (Letter to Ceridian Q2 Shareholders)

Revenue rose 20% year-on-year to $301.2 million in the quarter, slightly beating Wall Street expectations for revenue of $294.5 million (+18% year-on-year) ). We note that revenue growth has slowed by five points compared to 25% year-on-year growth in the first quarter, which in turn had slowed two points from the 27% year-on-year growth in the fourth quarter.

Under the hood, Ceridian’s cloud revenue — which includes its Dayforce core product suite and PowerPay payroll solution — grew 26% year-over-year to $262.9 million, representing about 87% revenues. Float-based revenue also increased to $14.7 million of the total, driven by an approximately 12% increase in client float balances as well as a 28 basis point increase in returns earned on the floating.

So far, the company notes that tightening macroeconomic conditions have not impacted sales. Remarks prepared by co-CEO David Ossip on the Q2 earnings call:

Much of our EBITDA outperformance came from the 230 basis point year-over-year increase in adjusted gross margin on Cloud, recurring at 76.4%. On a macro level, we haven’t seen any slowdown in sales or slowdown in decision-making. Year-to-date sales have increased significantly year-over-year and growth appears to be accelerating. We saw continued momentum across all segments. Transactions over $1 million increased 50% year over year. Mid-market sales are above plan. Base incremental sales continue to be 30%. The number of customers purchasing a suite reached 36% and global traction continues with EMEA and APJ sales both up more than 50% year-over-year. In other words, we are firing on all cylinders and are quite confident about the outlook for the second half.”

That being said, however, since many of Ceridian’s products are based on seats and workforces, we’ll have to watch carefully for the impact of layoffs and slower hiring trends on the company’s revenue going forward. ‘coming.

Admittedly, adjusted EBITDA was a good story in the second quarter. Adjusted EBITDA increased 55% year-on-year to $61.8 million, representing a margin of 20.5% – 460 basis points higher than the prior year quarter. This is explained by an increase of nearly two points in cloud gross margins as well as economies of scale on opex.

Ceridian Adjusted EBITDA

Ceridian Adjusted EBITDA (Letter to Ceridian Q2 Shareholders)

Key points to remember

For some reason, Ceridian continues to trade at high valuation multiples despite a fundamental profile that can best be described as average. Now is the time to stock up on high-quality, battered growth stocks — and Ceridian doesn’t qualify here. Sell ​​that name and invest elsewhere.

]]>
Anti-Inflammatory Drugs Market Size, Segmentations, Gross Margin and Segment Forecast 2021-2030 https://songhaizeng.com/anti-inflammatory-drugs-market-size-segmentations-gross-margin-and-segment-forecast-2021-2030/ Sat, 17 Sep 2022 02:02:49 +0000 https://songhaizeng.com/anti-inflammatory-drugs-market-size-segmentations-gross-margin-and-segment-forecast-2021-2030/ “Anti-inflammatory Drugs Market | Emerging Research » The anti-inflammatory drugs market size reached USD 111.42 billion in 2021 and is expected to register a revenue CAGR of 9.3% during the forecast period The Global Anti-Inflammatory Drugs Market The size reached USD 111.42 billion in 2021 and is expected to register a CAGR of 9.3% during […]]]>

“Anti-inflammatory Drugs Market | Emerging Research »

The anti-inflammatory drugs market size reached USD 111.42 billion in 2021 and is expected to register a revenue CAGR of 9.3% during the forecast period

The Global Anti-Inflammatory Drugs Market The size reached USD 111.42 billion in 2021 and is expected to register a CAGR of 9.3% during the forecast period, according to the latest analysis from Emergen Research. The potential candidates in the pipeline are the main revenue growth driver of the market. For example, the monoclonal antibody mirikizumab (LY3074828) met the primary objectives and all important secondary objectives of the Phase 3 ulcerative colitis study LUCENT-1, according to a March announcement from Lilly. The drug’s potential as a treatment for moderate to severe ulcerative colitis was assessed throughout the 12-week multicenter induction phase. The humanized monoclonal antibody binds to the interleukin-23 p19 (IL-23p19) subunit. One cytokine that promotes inflammation is interleukin-23. In March, Lilly boasted that the Phase 3 LUCENT-1 trial, which used an anti-IL-23p19 monoclonal antibody, was the only one to show a reduction in bowel urgency in patients with moderate ulcerative colitis. to severe. Mirikizumab can be used to treat ulcerative colitis and Crohn’s disease, according to Lilly.

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Key Players profiled in the report are:

AbbVie Inc., Johnson & Johnson Private Limited, Bristol-Myers Squibb Company, Merck & Co., Inc., Pfizer Inc., Novartis AG, GSK plc, Lilly, Amgen Inc., Biogen

A recent trend in the market is the use of prodrug design. Nonsteroidal anti-inflammatory drugs (NSAIDs) are a class of drugs that are among the most frequently used, prescribed, and over-the-counter (OTC) medications for the treatment of inflammatory diseases. However, NSAIDs have several undesirable side effects, the most important of which are ulcerogenicity, mucosal hemorrhage, and gastritis. The majority of NSAID fragments are chemically made up of carboxylic functional groups, which may be one of the causes of mucosal damage. Prodrug design is one of the methods used to circumvent this problem. Thus, over the past decade, medicinal chemists have focused on the design and synthesis of NSAID prodrugs. The prodrug concept was developed to temporarily inhibit the free carboxylic group present in NSAIDs until systemic absorption.

Some highlights of the report

The anti-inflammatory biologics segment accounted for the largest share of revenue in 2021. Before the body senses or recognizes signs of inflammation, a number of metabolic steps take place. A biologic drug stops the inflammatory process in its tracks by directly targeting and inhibiting a specific reaction. Traditional medications, unlike biologics, only treat general inflammation once it has started (and accompanying symptoms, such as joint pain). When traditional NSAIDs (such as ibuprofen) or disease-modifying anti-rheumatic drugs (DMARDs) (such as methotrexate) are ineffective, patients with inflammatory autoimmune diseases, including rheumatoid arthritis and ankylosing spondylitis, may be prescribed biological drugs. In addition to these traditional medicines, biological products can be used. A biological target is categorized based on where the inflammation is in the process.

The injection segment accounted for the largest revenue share in 2021. The anti-inflammatory biologics market is expected to grow in revenue owing to the growing adoption of biologics. A special and effective type of medicine known as a biologic given by injection reduces or stops dangerous inflammation. Biologics and biosimilars are specialized classes of DMARDs. Usually they are recommended after conventional DMARDs have failed. These powerful drugs are very effective in treating many people with autoimmune and inflammatory arthritis, including rheumatoid arthritis (RA), psoriatic arthritis (PsA), and others. Since they are more difficult to produce than conventional DMARDs, they can be more expensive than most treatments an individual takes. While some medications can be given through self-administered injections, others require intravenous (IV) infusions done in a doctor’s office.

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The autoimmune inflammatory disease segment accounted for the largest share of revenue in 2021. Increased incidence of psoriasis, inflammatory bowel disorders, and rheumatoid arthritis are contributing to the growth of this segment. Globally, the prevalence of RA between 1980 and 2019 was 460 per 100,000 people, with regional differences related to research design and location. According to the WHO, up to 14 million cases of rheumatoid arthritis may exist worldwide. Psoriasis affects people of all ages and from all countries. Psoriasis is estimated to affect between 0.09% and 11.43% of the world’s population, making it a serious global problem affecting at least 100 million people. The World Psoriasis Day Collaboration estimates that 125 million people worldwide, or 2-3% of the population, have psoriasis.

North America accounted for the largest revenue share in 2021, attributed to increased initiatives to refer patients to NSAIDs instead of opioids as they are addictive in this region. Dental pain is an example. Although nonsteroidal anti-inflammatory drugs (NSAIDs) are advised by the American Dental Association for pain management, opioids are still used more frequently than alternatives. However, more and more programs are launched to end this situation. Prescribed NSAIDs include Advil (ibuprofen), Aleve (naproxen), and Celebrex (celecoxib). However, Rochester dentists say that often an individual’s medical history makes it impossible to treat them with NSAIDs. Thereafter, they used a “multimodal” approach to pain management that included “NSAIDs, acetaminophen, and gabapentin.” This array of alternatives is meant to fill the void left when opioids are no longer used.

On August 18, 2022, Strides Pharma announced that the United States Food and Drug Administration (USFDA) had given its naproxen sodium softgels the green light. A nonsteroidal anti-inflammatory medicine called naproxen sodium capsules is used to treat pain or inflammation caused by conditions such as arthritis, ankylosing spondylitis, tendinitis, bursitis, gout, or menstrual cramps. Acute pain caused by other disorders can also be treated with it. Naproxen sodium soft gel capsules have an estimated US OTC market of $100 million.

Emergen Research has segmented the global anti-inflammatory drugs market based on drug class, route of administration, application, and region:

Drug Class Outlook (Revenue, USD Billion; 2019-2030)

Anti-inflammatory biologics

Nonsteroidal anti-inflammatory drugs (NSAIDs)

Corticosteroids

Route of Administration Outlook (Revenue, USD Billion; 2019-2030)

Oral

Injection

Inhalation

Topical

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Application Outlook (Revenue, USD Billion; 2019-2030)

Autoimmune inflammatory diseases

rheumatoid arthritis

Psoriasis

Others

Respiratory diseases

Others

Regional Outlook (Revenue, USD Billion; 2019-2030)

North America

WE

Canada

Mexico

Europe

Germany

France

UK

Italy

Spain

Benelux

The rest of Europe

Asia Pacific

China

India

Japan

South Korea

Rest of APAC

Latin America

Brazil

Rest of LATAM

Middle East and Africa

Saudi Arabia

United Arab Emirates

South Africa

Turkey

Rest of MEA

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Computed Tomography Devices Market Size Analysis 2022 by Global Industry Trends, Share, Gross Margin, Future Demand, Investment Opportunities 2030 https://songhaizeng.com/computed-tomography-devices-market-size-analysis-2022-by-global-industry-trends-share-gross-margin-future-demand-investment-opportunities-2030/ Thu, 15 Sep 2022 12:32:31 +0000 https://songhaizeng.com/computed-tomography-devices-market-size-analysis-2022-by-global-industry-trends-share-gross-margin-future-demand-investment-opportunities-2030/ Pune, Maharashtra, India, September 15 2022 (Wiredrelease) Market.biz –:This Market.biz report affects all factors on the “Computed Tomography Devices Market 2022-2030 “. To have the best level of market information and know-how of the best market opportunities in the specific markets, CT Scanner market research is an ideal key. As well as the impact of […]]]>

Pune, Maharashtra, India, September 15 2022 (Wiredrelease) Market.biz –:This Market.biz report affects all factors on the “Computed Tomography Devices Market 2022-2030 “. To have the best level of market information and know-how of the best market opportunities in the specific markets, CT Scanner market research is an ideal key. As well as the impact of the COVID-19 pandemic on the market. This report will also focus on the Computed Tomography Devices market potential with a detailed analysis of the competitive analysis between the organizations. Drivers, moderation, opportunities, pricing analyses, market prevalence or impact, and an assessment of the regulatory scenario will be covered in this report. The report includes market projections for 2030 and market shares of key players.

Key Players Covered in the Global Computed Tomography Devices Market Report:

Siemens
GE Healthcare
Philips Health
Trivitron Technologies
Canon medical systems

Sample report request: https://market.biz/report/global-ct-scan-devices-market-bsr/1144649/#requestforsample

The PDF report will help you understand:

• Competitive benchmarking and layout

• Competing portions of general activity

• Market figures and valuations

• Market opportunities

• Latest models and elements

Global CT Scanner Market: Product Segment Analysis

Low slice scanners
Mid-slice scanners
High resolution scanners

Global CT Scanner Market: Application Segment Analysis

Hospitals
Clinics
Imaging centers
Research and development centers
Medical teaching institutions

Buy the full report at: https://market.biz/checkout/?reportId=1144649&type=Single%20User

Global Computed Tomography Devices Market Research Report with Opportunities and Strategies to Drive Growth

Market Overview: It includes six sections, research scope, key manufacturers covered, market fragments by type, CT Scanner market shares by application, study objectives and years considered.

Market Landscape: Here, the global CT Scanner market opposition is dissected, by value, revenue, deals, and pie share by organization, market rate, ruthless circumstance landscape, and most models recent, consolidation, development, obtaining , and parts of the overall industry of large organizations.

Profiles of Manufacturers: Here, leading players of the global CT Scanner market are considered dependent on region of deals, key elements, net benefit, revenue, cost, and establishment.

Market Status and Outlook by Region: In this segment, the report examines net margin, transactions, revenue, creation, overall industry share, CAGR, and market size by region. Here, the Global CT Scanner Market is thoroughly examined based on regions and countries like North America, Europe, China, India, Japan, and MEA.

Application or End-User: This segment of the exploration study shows how extraordinary end-customer/application sections are added to the global CT Scanner market.

Market Forecast: Production Side: In this part of the report, the creators have focused on the creation and creation esteem conjecture, the major manufacturers gauge and the creation esteem estimation and creation by type.

Research Findings and Conclusion: This is one of the last segments of the report where the findings of the investigators and the end of the exploratory study are given.

In a nutshell, the CT Scanner Market report provides major statistics on the state of the CT Scanner industry along with a valuable source of guidance and direction for companies and individuals interested in the market. At the end, CT Scanner Market Report delivers a conclusion which includes Research Findings, Market Size Evaluation, Global Market Share, Consumer Needs/Changes in Customer Preference, and Data Source. These factors will increase the growth of the business as a whole. The CT Scanner Market analysis report offers the key driving factors helpful for expanding the business globally. The Computed Tomography Devices market report utilizes the needs for advanced technological systems compatible with this market with every parameter firmly mentioned in this report.

Table of Contents – Overview:

Section 1) Computed Tomography Devices Market Describes industry overview/summary/review, market segment and cost analysis.

Section 2) Discusses the industry environment, industry chain structure, industry as a whole, industry and investment analysis, cost structure of manufacturing, raw materials and suppliers, and the manufacturing process. This includes politics, economics, sociology and technology.

Section 3) Computed Tomography Devices Market describes the operation of the region. It covers countries like North America, South America, Europe, North America, Asia-Pacific, Middle East and Africa. It involves regional import and export and regional forecast.

Section 4) Computed Tomography Devices Market by Type, Market Size, Market Forecast/Outlook.

Section 5) Involves the list of major companies and their company profile, as well as sales data.

Section 6) Describes the market industry competition. The CT scanners market requires business competition, the regional market by a company.

Section 7) Computed Tomography Devices Market Describes demand demand, including demand situation, regional demand assessment/assessment, and demand forecast.

Section 8) Computed Tomography Devices Market offerings with advertise price, manufacturers gross margin analysis, cost/value trends, price trend aspects, and marketing channel.

Section 9) Research Findings and Conclusion, Appendix, Methodology.

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Sysco stock: more attractive with its remaining $4.5 billion share buyback program (NYSE: SYY) https://songhaizeng.com/sysco-stock-more-attractive-with-its-remaining-4-5-billion-share-buyback-program-nyse-syy/ Tue, 13 Sep 2022 15:10:00 +0000 https://songhaizeng.com/sysco-stock-more-attractive-with-its-remaining-4-5-billion-share-buyback-program-nyse-syy/ hababapa Sysco Company (New York stock market :NYSE: SYY) ended its fourth quarter of 2022 beating the consensus estimate for its revenue and earnings per share, and they generated their highest ever revenue of $68.63 billion. Unfortunately, the stock price is still lower than it was as of the date of the Company’s earnings report […]]]>

hababapa

Sysco Company (New York stock market :NYSE: SYY) ended its fourth quarter of 2022 beating the consensus estimate for its revenue and earnings per share, and they generated their highest ever revenue of $68.63 billion. Unfortunately, the stock price is still lower than it was as of the date of the Company’s earnings report (August 9, 2022). The market continues to exercise extreme caution on lingering inflation concerns. The company has successfully navigated its way to post-pandemic recovery and is strongly positioned to thrive in today’s post-pandemic era.

The company addressed its persistent labor shortage with the launch of its Sysco Driver Academy and successfully expanded its employee base in fiscal year 2022. Operating margin remains high compared to to pre-pandemic levels. Profitability remains under pressure due to the current increase in fuel prices. However, it remains attractive with its management’s positive EPS guidance for FY2023. With these catalysts in place, I think SYY remains a buy after a strong rally from the 2020 low.

Company presentation

Sysco Corporation is one of the world leaders in the foodservice distribution industry. It is also a Fortune 500 company that offers a wide range of products and services used by restaurants, healthcare facilities, schools and other institutions. The 2022 financial year reveals that restaurants contribute the majority of their income; in fact, restaurants account for 63% of its total revenue, which grew 33.80% year over year.

According to National Restaurant Association, the industry is expected to reach $898 billion this year, up from $799 billion in 2021. With the post-pandemic recovery phase underway, I believe the restaurant industry will remain strong despite today’s potential recession. today. In addition, 16% of the company’s revenue comes from the healthcare (8%) and education/government (8%) sectors. These are the two sectors that management believes will be least affected by the forecast recession.

Therefore, the majority of its revenue remains secure for now, building positive momentum towards its best fiscal year 2023, as shown below.

Overall, we are increasing our adjusted EPS on the back of volume growth and improved earnings which are contributing to our substantial earnings per share increases. We expect adjusted EPS for FY23 of $4.09 to $4.39. The midpoint of this range equates to a 30% increase in Adjusted EPS from FY22. It also represents a 20% increase in our Adjusted EPS from our previous high point, FY2019. Source : Transcript of the fourth quarter 2022 earnings call.

Looking at the company’s gross margin trend, we can clearly see that SYY is facing challenges with inflationary pressures today.

SYY: Gross margin trend over 5 years

SYY: gross margin trend over 5 years (Source: SeekingAlpha data, prepared by InvestOhTrader)

However, upon further investigation in addition to inflationary pressure, the decline in its gross margin was due to the writedown of personal protective equipment inventories related to Covid-19. Looking at its adjusted gross margin of 18.06%, we can see that the drop is not that massive compared to its GAAP gross margin of 17.95%.

Moreover, its operating margin produced a figure of 3.73% for FY22, better than its 3.25% for FY21 and 1.78% for FY20, but it is still below its FY19 and FY18 levels of 3.82% and 4.00%, respectively. This was due to improved operational efficiency, where the company produced an improved total operating expense ratio of 14.22%, above its 5-year average of 15.46% and beating its benchmark levels. before the pandemic, as shown in the image below.

SYY: Improvement in the ratio of total operating expenses to total sales

SYY: Improvement in the ratio of total operating expenses to total sales (Source: SeekingAlpha data, prepared by InvestOhTrader)

It is thanks to the successful implementation of its “Recipe for growth“; in fact, according to management, they have already exceeded their cumulative savings target of $750 million. This positively offsets the pressures of additional labor costs and ongoing investments in productivity. Here are some- some of SYY’s investments in technology that drive operations efficiency, as shown below.

The Distributed Order Management System technology will go live this quarter and it will allow us to decouple front-end sales from back-end operations. And by doing that, we can ensure that we reduce the miles traveled, which means serving the customer from the closest warehouse possible.

It sounds basic and obvious, but it’s a significant technology unlock, but it’s also going to help us with our strategic product storage, what product is where. Think of slow moving SKUs and fewer warehouses that are then transhipped through last mile delivery location and being really strategic and optimized to grow our inventory capacity, but doing it overall over time time, less inventory, less working capital. Source: Q4 2022 Earnings Call Transcript.

Other points of investment are their Sysco Driver Academy and their loyalty program, Sysco Perks, which should improve both the productivity of the company and the rate of customer retention.

Become bigger and better

In FY2022, SYY acquired leading companies such as Greco and son, Paragon Foodsand leader in the distribution of fresh products, Coastal businesses. SYY remains very aggressive in expanding through acquisitions despite today’s macro headwinds and still returned $1.5 billion to shareholders, as shown below.

…we returned $1.5 billion to shareholders through 500 million fourth-quarter share buybacks and $959 million in dividends. Source: Q4 2022 Earnings Call Transcript

In fact, according to management, regardless of market conditions, they expect to outperform the restaurant market by 1.35x and generate a ~10% positive increase in revenue year over year. another in fiscal year 2023.

Due to their confidence, they have increased their annual dividend to $1.96 per share from $1.88 per share in fiscal 2022. Additionally, at the time of this writing, this provides a yield in dividends of 2.34%, which could improve further with its potential correction in the coming trading weeks, as we will see below.

Finally, the company has a market capitalization of $42,458 million at the time of this writing, and another value-added catalyst worth mentioning is its approval of a $5.0 billion share buyback program. as part of its Recipe for Growth strategy, with a $4.5 billion share buyback authorization. still remaining.

Remains fundamentally undervalued

SYY has improving profitability as shown by its historical ROE of 92.59%, which is much better compared to its industry median of 12.21%. This sort of explains why it is trading at a higher multiple than its sector. So looking at its EV/EBITDA ratio of 15.91x versus its industry median of 12.87x may put some investors off. However, given its forward EV/EBITDA of 12.97x and its 5-year average of 17.12x, I believe SYY remains fundamentally undervalued, especially given its remaining share buyback program of $4.5 billion. Using the Wall Street high target price of $100 as a conservative target price offers a decent upside of around 20% at the time of writing.

A few risks to consider: Despite the current inflationary pressures, SYY has managed to control its margin, as mentioned earlier. However, a prolonged and continuous increase in the prices of fuel and other necessary goods can affect the company’s overall demand.

About to challenge his $91 mark

SYY: weekly chart

SYY: weekly chart (Source: TradingView.com)

The 50-day simple moving average is currently serving as support on the weekly chart. Additionally, based on its price action, SYY appears to be struggling to breach the $86 level, which has already been attempted three times this year – in February, May and July – but without success. As the chart above shows, its MACD indicator was already indicating weakness. If there is a correction, I think $70-$75 will be a strong support area to watch.

Final takeaways

In the current inflationary environment, SYY is showing resilience with its exceptional growth and can successfully control its margin. In addition to this catalyst, SYY has a liquid balance sheet and Moody’s has reaffirmed its investment grade credit rating. Its general liquidity ratio remains below its three-year average of 1.54x, mainly due to cash acquisitions. With a net debt to adjusted EBITDA ratio of 2.9x for FY22, it delivered a better figure than ~4.0x for FY21 and ~5.9x for FY20. This implies an improvement in long-term liquidity. Another value-added catalyst is management’s expectation of a 2.5x to 2.75x range for FY23. In conclusion, SYY remains fundamentally solid and is an attractive long candidate.

Thanks for the reading!

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Planet Labs Stock: Q1 Recap and Q2 Reflections (NYSE: PL) https://songhaizeng.com/planet-labs-stock-q1-recap-and-q2-reflections-nyse-pl/ Sun, 11 Sep 2022 14:07:00 +0000 https://songhaizeng.com/planet-labs-stock-q1-recap-and-q2-reflections-nyse-pl/ Thibault Renard Introduction I wrote a more detailed analysis on Planet (NYSE: PL) in February, two months after it was published via PSPC. I laid out my investment thesis, which relies heavily on expanding use cases as the company transforms raw imagery data into more consumable insights and predictive analytics. The new use cases should […]]]>

Thibault Renard

Introduction

I wrote a more detailed analysis on Planet (NYSE: PL) in February, two months after it was published via PSPC. I laid out my investment thesis, which relies heavily on expanding use cases as the company transforms raw imagery data into more consumable insights and predictive analytics. The new use cases should attract new customers and encourage existing customers to spend more. With incremental margins of over 95%, revenue growth will naturally drive profitability.

Although Planet is still in the early stages of execution, its fiscal first quarter results (end of April) were in line with initial analysis. In this article, I’ll give a quick recap of the FQ1 results and outline a few things I’ll be watching for when the company reports on Monday (September 12).

Summary of the 1st quarter

Although an FQ1 revenue summary may be a somewhat outdated analysis at this point, it is necessary to preface what I will be looking for in FQ2. Overall, I saw FQ1 earnings favorably despite missing earnings expectations quite substantially.

Revenue during the quarter totaled $40.1 million, +26% Y/Y and +8% Q/Q. Approximately 40% of the increase was due to increased spending by existing customers, with the remainder driven by customer growth. Planet added 56 clients over the period, bringing the total to 826, +23% Y/Y and +7% Q/Q.

Gross margin rose 370 Q/Q basis points to 41.1%, demonstrating the company’s ability to scale profitably with additional customers.

Much of the revenue discussion centered on the National Recognition Office’s EOCL award. Planet, on the other hand, refrained from discussing any upside opportunities, instead focusing on the guaranteed portion. The contract is for $146 million over five years, of which $89 million will be recognized in the first two years.

With increased revenue visibility from EOCL, management tightened its full-year guidance, increasing the midpoint by $2 million to $182 million. So a little adjustment, better to go up than down!

Net dollar retention rate was 105% compared to 95% the previous year. Planet calculates this metric based on the value of customer contracts at the start of the fiscal year, so I expect this number to improve significantly over the course of the year (as before), especially with the recent EOCL price.

On the call, Will Marshall specifically highlighted the growing momentum of the agriculture sector (~23% of FY2021 revenue). I consider this a fairly significant development in the wake of the VanderSat acquisition, as it provides some confirmation of the growth of the advanced analytics market. If Planet can develop similar software – based on its unique data – to meet the needs of other industries, such as insurance, supply chain monitoring and finance, the opportunity set is greatly enhanced.

Ultimately, spending skyrocketed as Planet invested in software sales and headcount. While it’s hard to gauge the return on these investments in advance, I’m comfortable with increased spending (for now) as long as revenue growth continues to accelerate. The company has plenty of cash reserves to fund its short-term growth.

Importantly, the company has indicated that it is on track to meet its hiring needs for the year, a prerequisite for growing its customer base.

At a high level, the results for the quarter were good – not great – with a lot of potential priced in in the near term thanks to the EOCL price and the dynamics in agriculture.

Focus Q2

I will mainly focus on four variables in the FQ2 report:

  • Increase in income;
  • Gross margin;
  • New customers; and
  • Net dollar retention rate.

A continued acceleration of revenue growth is essential to the investment thesis. If not, where are the company’s investments going? With the addition of EOCL contract revenue, I don’t see this as a major concern in the quarter, but it is perhaps the most important consideration.

On the margin side, a sequential increase in gross margin seems natural if the company can meet its revenue goals. However, the company has expected non-GAAP gross margins to be in the same range as FQ1, so a sequential increase could be perceived positively by the market.

If my thesis proves to be correct over the long term, new customers will lead to a sustained acceleration in revenue. I would like to see proof that new salespeople are starting to gain momentum, reflected by a high number of new customers during the quarter.

I interpret the net dollar retention rate as a measure of how much a business adds value to existing customers in new ways. As Planet continues to explore the potential embedded in its vast (and expanding) library of data, it is critical that the company can find ways to add value. As such, I would like to see a sequential increase in net dollar retention rate. I do not see this as a significant burden given the impact of awarding the EOCL on the value of the USG contract.

Finally, I would appreciate confirmation that the company continues to be able to meet its hiring needs.

Conclusion

Planet is still in the early stages of execution and plans to significantly accelerate its growth in the short to medium term. Planet’s third report as a public company (second with consensus estimates) has the potential to be a big factor in the market’s appetite for the stock.

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Premium Gin Market Size, Share & Growth Research Report, https://songhaizeng.com/premium-gin-market-size-share-growth-research-report/ Fri, 09 Sep 2022 14:09:37 +0000 https://songhaizeng.com/premium-gin-market-size-share-growth-research-report/ Pune, Sep 09, 2022 (GLOBE NEWSWIRE) — The latest Premium gin market research report [2022-2029] has been prepared by experienced and knowledgeable market analysts and researchers. It is a phenomenal compilation of significant studies which explores the competitive landscape, segmentation, geographic expansion, revenue, and consumption growth of the Global Premium Gin Market. This report focuses […]]]>

Pune, Sep 09, 2022 (GLOBE NEWSWIRE) — The latest Premium gin market research report [2022-2029] has been prepared by experienced and knowledgeable market analysts and researchers. It is a phenomenal compilation of significant studies which explores the competitive landscape, segmentation, geographic expansion, revenue, and consumption growth of the Global Premium Gin Market. This report focuses on Premium Gin volume and value at global level, regional level and company level. From a global perspective, this report represents overall Premium Gin Market Size by analyzing historical data and future prospect. Regionally, this report focuses on several key regions: North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. This is accomplished through current knowledge of the most important drivers, current trends, untapped opportunities, risks and restrictions, challenges, and most promising areas of development. It will also help to analyze the market growth properly and make better decisions in the coming years.

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Market analysis and overview: Global premium gin market

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  • Black Forest Distillers
  • Bacardi

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Premium Gin Market Segment By Type:

  • Dry gin
  • Old Tom Gin
  • Juniper Gin
  • Others

Premium Gin Market Segment By Application:

  • Household/Retail
  • food service

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Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth rate of Premium Gin in these regions, from 2017 to 2029, covering

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  • Europe
  • Asia Pacific
  • South America
  • Middle East and Africa

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Detailed TOC of Global Premium Gin Market Report 2022

1 Premium Gin Market Overview

1.1 Product Overview and Market Scope Premium Gin
1.2 Premium Gin Market Segment by Type
1.2.1 Global Premium Gin Market Sales and CAGR Comparison by Type (2017-2029)
1.3 Global Premium Gin Market Segment by Application
1.3.1 Premium Gin Market Consumption (Sales) Comparison by Application (2017-2029)
1.4 Global Premium Gin Market, by Region (2017-2029)
1.4.1 Global Premium Gin Market Size (Revenue) and CAGR Comparison by Regions (2017-2029)
1.4.2 United States Premium Gin Market Status and Outlook (2017-2029)
1.4.3 Europe Premium Gin Market Status and Outlook (2017-2029)
1.4.4 China Premium Gin Market Status and Prospect (2017-2029)
1.4.5 Japan Premium Gin Market Status and Outlook (2017-2029)
1.4.6 India Premium Gin Market Status and Prospect (2017-2029)
1.4.7 Southeast Asia Premium Gin Market Status and Prospect (2017-2029)
1.4.8 Latin America Premium Gin Market Status and Outlook (2017-2029)
1.4.9 Middle East & Africa Premium Gin Market Status and Outlook (2017-2029)
1.5 Global Market Size (Revenue) of Premium Gin (2017-2029)
1.5.1 Global Premium Gin Market Revenue Status and Outlook (2017-2029)
1.5.2 Global Premium Gin Market Sales Status and Prospect (2017-2029)
1.6 Influence of regional disputes on the premium gin industry
1.7 Impact of carbon neutrality on the premium gin industry

2 Upstream and Downstream Analysis of Premium Gin Market

2.1 Premium Gins Industry Chain Analysis
2.2 Major Raw Materials Suppliers and Price Analysis
2.3 Supply and Demand Analysis of Key Raw Materials
2.4 Commodity Market Concentration Rate
2.5 Analysis of Manufacturing Process
2.6 Manufacturing Cost Structure Analysis
2.6.1 Labor cost analysis
2.6.2 Energy Cost Analysis
2.6.3 R&D cost analysis
2.7 Major Downstream Buyers of Premium Gin Analysis
2.8 Impact of COVID-19 on Upstream and Downstream Industry

Continued….

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