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Foxconn expands IC backend biz through affiliates

Foxconn Technology (Hon Hai Precision Industry) has been expanding its IC backend business through subsidiaries, such as ShunSin Technology and Qingdao KoreSemi, according to industry observers......»»

Category: topSource: digitimesJun 24th, 2022

The Best Marketing Strategies For eCommerce Businesses

Every day, new internet users buy products online. From America to Europe to Asia, eCommerce is here to stay. Therefore, it’s no surprise that global eCommerce sales are expected to hit $5.5 trillion in 2022, according to Statista. But while you have more potential customers, more competitors are also trying to take their share of […] Every day, new internet users buy products online. From America to Europe to Asia, eCommerce is here to stay. Therefore, it’s no surprise that global eCommerce sales are expected to hit $5.5 trillion in 2022, according to Statista. But while you have more potential customers, more competitors are also trying to take their share of the eCommerce pie. So, don’t expect internet users to land on your website and launch a buying spree without your effort. That’s why marketing is vital to any successful eCommerce business’s operations. if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Henry Singleton Series in PDF Get the entire 4-part series on Henry Singleton in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q1 2022 hedge fund letters, conferences and more Now, there’s no single strategy that works for every eCommerce business. So how do you know the best for your business? This guide will show you the most effective marketing strategies and how to identify the best for your needs. How Do You Know What Strategy Is Best For Your eCommerce Business? As I mentioned earlier, every eCommerce business’s marketing strategy is unique according to various factors. Nevertheless, here are three critical considerations to help you discover the best marketing strategy for your eCommerce business. Your ideal buyer While billions of users are online, only a few profiles of people qualify as your ideal customer. Therefore, defining your ideal buyers will determine most of your marketing and even business decisions. You can define your ideal buyer by creating a buyer persona, which will include details such as: Name Gender Age Income Favorite marketing channels Location Pain points Ambitions Hobbies These pieces of information will determine elements of your marketing campaigns, such as marketing channels, brand voice, targeting criteria, and more. Here’s an eCommerce buyer persona example from Drip: Your marketing goals Although your overall goal is to acquire more customers and revenue, there are many stages of that journey. Your marketing campaigns at various buyer journey stages will have different goals. Common marketing goals for eCommerce businesses include: Brand awareness Lead acquisition Customer acquisition Customer retention Once you have a goal for your marketing campaign, it will inform your marketing messages, channels, and tasks. You must also define the metrics to measure your goal during the goal-setting process. Without setting a goal for your marketing campaigns, you can easily fall into a scattergun approach. As a result, there’ll be no way to measure the success or failure of your campaigns. Your marketing budget First, your overall budget will determine the channels you’ll focus on. With a big budget, you can have more space to experiment. However, a small budget will restrict you to only a tried-and-tested strategy. Whatever your budget, it’s vital to optimize it to obtain the best result possible. Considering these factors, you can create a unique eCommerce marketing strategy to meet your business needs. The Best eCommerce Marketing Strategies Below, we’ll consider six proven strategies to help you reach more customers. Of course, you can combine some of these strategies to achieve your marketing goals. Let’s go into the details. Ecommerce SEO Before a customer is ready to buy your product, they’ve done a lot of research. So to give your business the best chance of converting prospects, you must connect with them during the research stage. ECommerce SEO is the process of optimizing your web pages to rank high for essential business keywords. Here are tasks to execute to improve your eCommerce SEO: Content Marketing: no page can rank on search engines without some content on it. Hence, valuable content is one of the most vital criteria for ranking high for a keyword. Today, SEO has gone beyond just stuffing a page with keywords. Search engines consider search intent and ensure your content provides the information a searcher is looking for. Therefore, creating pieces of content that solve your visitors’ problems is vital. Technical SEO: includes tasks you execute in your website’s backend to ensure search engines can quickly discover your website. For example, you can submit your sitemap to index your pages and make them crawlable. Another aim of technical SEO is to improve the website experience for visitors. For instance, you can increase the speed of your website for a boost in rankings and usability. Another similar focus is making your website mobile-friendly to complement both of the points mentioned above. On-Page SEO: these are SEO tasks you do on your web page. They include tasks such as adding your target keyword to the page URL, title, subheadings, and other aspects of your page. Header tags are essential, they help break down content to help search engines better understand your content. Off-Page SEO: while you can improve SEO for your eCommerce website through many actions on your website, you can also take steps outside your website. One of the most prominent off-page SEO tactics is link building. When other websites relevant to your niche link to your page, they help build the authority of that page. Another critical factor is that the website linking to you already has a lot of high-quality backlinks to your pages will boost your chances of higher ranks. By engaging in eCommerce SEO campaigns, you can acquire more leads and customers through search engines. Pay Per Click Advertising Improving organic search and social media performance can take a lot of time that you don’t have. However, with pay-per-click (PPC) advertising, you can reach your audience now. For PPC advertising on Google, you must take the necessary steps to improve your chances of success. They include: Conduct keyword research: what keywords are your potential buyers putting in the search box? You can find the best keywords to reach your prospects through keyword research on Google Keyword planner and other research tools. Adjust bidding according to your goals: Are your ads showing up for your preferred keywords? Is the competition too high? Is a click worth much higher than you’re currently bidding? You can also achieve better success with your bidding if you increase your ad quality score through high-relevant ads and better click-through rates. Build relevant landing pages: your ad copy must align with your landing page copy to improve your chances of conversions. Some landing page builders allow you to take it further through dynamic text replacement. This will feature searchers’ keywords on your landing page. Use Google shopping ads: These ads are usually created for transactional keywords. These ads will display your products and their prices on the search results page. You can also add shipping information and ratings. Use retargeting ads: if someone has visited some pages on your website, you can send them ads related to those pages. For instance, you can target a shopper who has visited a product page with ads for that product. This will make them more receptive to your ads. After executing these tactics, you can improve performance through A/B testing. Frankly, there’s no single ad that works for every business. So, you have to test various ad campaign elements to improve performance. Email Marketing According to statistics from Litmus, email marketing can deliver an ROI of $45 for every dollar spent by eCommerce businesses. So, unsurprisingly, this is one of the best marketing channels to improve performance. That is because email marketing for eCommerce has many advantages compared to other marketing channels. First, your marketing messages will land in your subscribers’ inboxes. This is more exposure than other channels. Second, sending different messages according to the subscriber’s interests is easy. In other words, personalization can make a lot of difference in your marketing campaigns. Naturally, the best email marketing software you can use today will allow you to personalize your emails based on many criteria such as: Name Birthdays Gender Location Purchase history Emails opened Website pages visited As a result of sending relevant emails to subscribers, you’ll increase your open and click-through rates. And since you’re directing them to a relevant web page, there’s a higher chance of converting such visitors. Beyond personalization, email marketing automation is another effective strategy. Email marketing automation involves sending a series of messages to your subscribers based on a schedule or when some conditions are met. Some examples of automated email sequences are: Welcome emails Lead nurturing emails Promotional emails Abandoned cart emails Up-sell and cross-sell emails Onboarding emails Re-engagement emails To create these emails, you’ll find the necessary tools in your email marketing software. Better still, some software packages will provide automation templates you can use to create your campaigns. Here’s an example  of a sequence built with While creating your sequences, you can add triggers or conditions to add or remove subscribers from your email automation. For your eCommerce business, email marketing is a must rather than an afterthought. Social Media While social media is a platform to connect with friends, users also follow businesses and check out information and product offers. Here, eCommerce brands can provide value to their audience through content that can solve their problems. Of course, your business needs to focus on social media platforms where you can reach your ideal customers. Some ways eCommerce businesses can use social media include: Posting product tips Displaying product use cases Providing industry information Making product announcements Featuring user-generated content (UGC) Featuring influencer content Selling products Customer care In many industries, you’ll find experts and celebrities who have gained a big following due to years of excellent performance in their industries. As a result, these influencers have audiences who trust their product recommendations. Naturally, eCommerce businesses have taken advantage of this phenomenon to promote their products. However, while launching an influencer marketing campaign, you need to find the right influencers. The right social media management tool can help you find the right influencers. Then, it can help you track the effectiveness of your influencer campaigns. Fortunately, you’ll find many examples of brands using influencer marketing on Instagram. Over the years, social selling has become a popular strategy for eCommerce businesses. For instance, Statista found that about half of American social media users aged 14 to 34 made purchases through this channel in 2021. In fact, some social media platforms now allow you to sell your products on their platforms. For example, Instagram allows you to add shopping tags to products on your Instagram posts. A user can click on this tag to buy this product or shop more products without leaving the Instagram app. This allows you to eliminate the barrier of taking users out of Instagram. Pinterest also allows influencers and brands to create shoppable pins. This will let users shop products on Pinterest or click a link to visit the eCommerce website. On social media, there are many opportunities to promote and sell your products. Affiliate marketing Since you can’t reach all your prospects through your efforts alone, you can partner with publishers who will promote your products on blog posts, emails, social media, and videos. In return, publishers will take a share of the sales they refer. This will help you increase your reach faster. After all, according to Backlinko, “40% of U.S. merchants cited affiliate programs as their top customer acquisition channel”. First, you have to find a suitable affiliate marketing platform. This will help you organize details such as your affiliates, commissions, and other pieces of information. Moreover, your publishers can see the number of clicks, affiliates, paid affiliates, commissions, and more. Some affiliate marketing platforms such as PartnerStack, Everflow, and Impact.com provide tools to run your affiliate marketing campaigns. On the other hand, you can use affiliate marketplaces such as ShareASale and Commission Junction. Beyond this, you need to create an affiliate marketing page on your website. On this page, you’ll explain your affiliate terms to publishers. Publishers should also have a link to register. After a publisher has registered as an affiliate, you should send emails to them providing tips on how they can promote your products more effectively. Optimizing Website UI/UX Your website is the first impression a shopper will have about your business. If your website design is poor, shoppers will see your business as sloppy. And sloppy businesses don’t make great products, right? So, a shopper can leave before they get to see your wonderful products if your website UI/UX is poor. However, there are a few steps to ensure this never happens. First, you need a simple site structure. This means shoppers should be able to get to any page in no more than 4 clicks. More so, you can install a search bar to help visitors find products easily. You can also use a chatbot and live chat to answer any vital questions prospects may have during shopping. Another way to optimize your eCommerce website UI/UX is to make your website scannable and use obvious CTAs. Today, a large percentage of your buyers will be on mobile devices. Having a mobile responsive website ensures all the essential elements on your page will be visible to mobile users. Adding the geolocation feature helps provide shipping information and addresses of your nearest physical stores. Implementing these tactics will help provide a seamless experience to shoppers during the buyer’s journey. Conclusion As more people shop online, your eCommerce business should prepare for more challenging competition. Effective marketing is one of the best ways to give your business the right exposure. Even if you have an excellent product, nobody will buy it if they’ve never heard of it. But with the right marketing strategies, you’ll attract more shoppers to your online store and sell more products to them. Employ the strategies explained in this guide to boost your marketing results. Article by Diana Ford, Due About the Author Diana Ford utilizes over seven years of experience in marketing. She covers some industry-specific topics such as money management and business finance. Updated on Jun 29, 2022, 3:40 pm (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: valuewalk17 hr. 51 min. ago

United Natural (UNFI) Poised on Online Sales & Growth Pillars

United Natural (UNFI) is benefiting from e-commerce strength, thanks to its increased online solutions. The company is undertaking acquisitions to drive growth. United Natural Foods, Inc. UNFI looks well positioned, courtesy of strength in its e-commerce operations. North America's premier food wholesaler is undertaking prudent acquisitions to drive growth. The company’s Fuel the Future strategy and growth pillars are noteworthy.Let’s discuss the factors driving United Natural’s growth.Image Source: Zacks Investment ResearchE-commerce StrengthUnited Natural’s sales are benefiting from e-commerce strength, thanks to increased e-commerce solutions offered by the company. Several of the company’s Independents channel and a Chains channel provide e-commerce solutions to their customers. United Natural offers digital platforms and the support needed by its customers. Management is on track to roll out additional marketing and analytics capabilities to improve customers’ brand experience. United Natural is keen on strengthening its e-commerce business. To this end, the company launched Community Marketplace — a business-to-business digital e-commerce solution. The platform is designed for emerging brands, which will help the company expand distribution with United Natural’s customers.Acquisitions Driving GrowthThe Zacks Rank #1 (Strong Buy) company is undertaking various acquisitions over the years to expand its distribution network and customer base and boost long-term growth. In this regard, United Natural completed the buyout of SUPERVALU in October 2018. The enhanced scale of the combined entities is aiding UNFI’s performance. The merger has provided better-competing grounds to the company in the grocery space by augmenting offerings.Several other companies in the food space are benefiting from acquisitions like McCormick & Company MKC, Hormel Foods Corporation HRL and The Hershey Company HSY. McCormick increased its presence through acquisitions to enhance its portfolio. MKC bought a 100% stake in FONA International, LLC and some of its affiliates. FONA’s diverse portfolio helps McCormick bolster its value-add offerings and expand the flavor solutions segment into attractive categories. In November 2020, McCormick completed the acquisition of the parent company of Cholula Hot Sauce — a premium Mexico-based hot sauce brand.Hormel Foods is strengthening its business on the back of strategic acquisitions. In June 2021, the company acquired the Planters snacking portfolio. Before this, HRL acquired Texas-based pit-smoked meats company Sadler's Smokehouse in March 2020. The buyout is in sync with Hormel Foods’ initiatives to strengthen its position in the foodservice space.Hershey is undertaking buyouts to augment portfolio strength and boost revenues. In December 2021, Hershey acquired Dot’s Pretzels LLC — the owner of Dot’s Homestyle Pretzels — a leading brand in the pretzel category. The addition of Dot’s Pretzels is a perfect match for HSY’s growing salty snacking portfolio. The company also acquired Pretzels Inc. from an affiliate of Peak Rock Capital. The acquisition expands Hershey’s snacking and production capabilities.Other Growth Initiatives on TrackUnited Natural has been benefiting from its Fuel the Future strategy, unveiled in June 2021. Management is on track to increase market share through network optimization, solid innovation and a better customer experience. In its last earnings call, the company highlighted that it focuses on four areas to execute the Fuel the Future strategy and achieve its fiscal 2024 financial targets. The four priorities include a focus on delivering major value to its customers, improving the way of partnering with suppliers, providing associates with unmatched career opportunities and supporting communities and the planet. The company is inclined to enhance every aspect of its sales and supply chain execution to deliver products and services to its customers. In this regard, the company’s one-UNFI initiative has been gaining traction. We note that management expects to achieve average annual growth rates for net sales of 3-5%, adjusted EBITDA of 6-10% and adjusted earnings of 12-18% in fiscal 2024.United Natural is on track to undertake growth initiatives under its future pillar that includes brands, professional services and fresh. As part of growing its brand’s business, management is making progress with the three-pronged strategy based on deepening its penetration with existing customers, introducing owned brands to new customers and channels and undertaking customer-friendly innovations. The company is on track to expand its professional services by bringing new ideas to its customers. The company is on track to invest in its people, infrastructure and technology as part of its new growth pillar.We believe that such well-chalked growth endeavors and the aforementioned upsides will likely help the company stay in investors’ good books. UNFI’s stock has gained 12.6% in the past year against the industry’s 5.8% decline.You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Hershey Company The (HSY): Free Stock Analysis Report Hormel Foods Corporation (HRL): Free Stock Analysis Report McCormick & Company, Incorporated (MKC): Free Stock Analysis Report United Natural Foods, Inc. (UNFI): Free Stock Analysis Report To read this article on Zacks.com click here......»»

Category: topSource: zacksJun 28th, 2022

Mondelez"s (MDLZ) Clif Bar Buyout to Boost Snacking Portfolio

Mondelez (MDLZ) will acquire Clif Bar & Company in third-quarter 2022. The move creates more than $1 billion in the global snack bar franchise for Mondelez. Mondelez International, Inc. MDLZ is on track to reshape its portfolio to drive long-term growth. In this regard, the company signed an agreement to acquire a well-known U.S. maker of nutritious energy bars using organic ingredients — Clif Bar & Company. The deal, likely to conclude in third-quarter 2022, is priced at $2.9 billion with added contingent earnout consideration.The addition of popular brands like CLIF, LUNA and CLIF Kid perfectly complements Mondelez’s high-growth snack bar business. The move creates more than $1 billion in the global snack bar franchise for Mondelez. The buyout will augment MDLZ’s well-being and sustainable snacking portfolio while expanding its presence in Baked Snacks. The envisioned acquisition accelerates the company’s efforts to lead the future of snacking by winning in biscuits, chocolate and baked snacks while continuing to scale the flourishing snack bar business.Management anticipates the acquisition to augment the top line in the second year. The move will also generate cost synergies by utilizing MDLZ’s global and North American scale to widen Clif’s sales distribution while deepening penetration across existing and new customers as well as channels in the United States. Mondelez will continue to operate the Clif business from its headquarters in Emeryville, CA. Management will manufacture the Clif products in its existing facilities in Twin Falls, ID and Indianapolis, IN.Image Source: Zacks Investment ResearchAccretive Acquisitions Driving GrowthThe Zacks Rank #3 (Hold) company is always keen on expanding its business through acquisitions. On Apr 25, 2022, Mondelez unveiled that it inked a deal to buy Ricolino, which will likely strengthen the company’s Mexican footprint. In January 2022, the company acquired Chipita S.A., a major producer of sweet and salty snacks in Central and Eastern Europe. Prior to this, Mondelez took over a renowned sports performance and active nutrition brand — Grenade — in 2021. Certainly, Grenade’s on-trend and tasty products position Mondelez to grow in the U.K. and other markets. Further, the company acquired an Australia-based food company — Gourmet Food Holdings — which operates in the premium biscuit and cracker category. Mondelez completed the acquisition of Hu Master Holdings, the parent company of Hu Products on Jan 4, 2021. Notably, the acquisition of Hu provides further growth opportunities in chocolate and cross-category potential in crackers for Mondelez. We note that the Chipita, Grenade and Gourmet Food buyouts contributed to the company’s top line in the first quarter of 2022.Several other companies in the food space are benefiting from acquisitions like McCormick & Company MKC, Hormel Foods Corporation HRL and The Hershey Company HSY. McCormick increased its presence through acquisitions to enhance its portfolio. MKC bought a 100% stake in FONA International, LLC and some of its affiliates. FONA’s diverse portfolio helps McCormick bolster its value-add offerings and expand the flavor solutions segment into attractive categories. In November 2020, McCormick completed the acquisition of the parent company of Cholula Hot Sauce — a premium Mexico-based hot sauce brand.Hormel Foods is strengthening its business on the back of strategic acquisitions. In June 2021, the company acquired the Planters snacking portfolio. Prior to this, HRL acquired Texas-based pit-smoked meats company Sadler's Smokehouse in March 2020. The buyout is in sync with Hormel Foods’ initiatives to strengthen its position in the foodservice space.Hershey is undertaking buyouts to augment portfolio strength and boost revenues. In December 2021, Hershey acquired Dot’s Pretzels LLC — the owner of Dot’s Homestyle Pretzels — a leading brand in the pretzel category. The addition of Dot’s Pretzels is a perfect match for HSY’s growing salty snacking portfolio. The company also acquired Pretzels Inc. from an affiliate of Peak Rock Capital. The acquisition expands Hershey’s snacking and production capabilities.Returning to Mondelez, we believe that the company’s focus on undertaking acquisitions, evident from the latest move, keeps it well-positioned to drive future growth.The company’s stock has dropped 6.4% over a year compared with the industry’s 11.9% decline. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Hershey Company The (HSY): Free Stock Analysis Report Hormel Foods Corporation (HRL): Free Stock Analysis Report McCormick & Company, Incorporated (MKC): Free Stock Analysis Report Mondelez International, Inc. (MDLZ): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksJun 21st, 2022

Factors That Make United Natural (UNFI) a Promising Pick

United Natural (UNFI) is benefiting from its Fuel the Future strategy. It is on track with growth pillars that include brands, professional services and fresh. United Natural Foods, Inc. UNFI looks well positioned, courtesy of strength in the Fuel the Future strategy and growth pillars. The company’s solid e-commerce business and prudent acquisitions are driving growth. Accelerating inflation and business gains from existing and new customers, including benefits from cross-selling, are also working well for the company. The impact of these upsides was visible in the company’s third-quarter fiscal 2022 results, with net sales and earnings increasing year over year and beating the Zacks Consensus Estimate.Management anticipates net sales in the band of $28.8-$29.1 billion for fiscal 2022. At the midpoint, the metric suggests a 7% rise from the fiscal 2021 reported levels. The company anticipates fiscal 2022 adjusted earnings in the band of $4.65-$4.90 per share. At the midpoint, the metric indicates a 14% rise from the fiscal 2021 reported levels. In its last earnings call, management highlighted that many people continue to work from home and utilize flexible working methods. These factors and tight control of household budget amid escalated food inflation are likely to keep demand for food-at-home solid.The Zacks Rank #2 (Buy) company’s shares have gained 9.3% in the past year against the industry’s 11.5% decline. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Image Source: Zacks Investment ResearchGrowth Initiatives on TrackUnited Natural has been benefiting from its Fuel the Future strategy, unveiled in June 2021. Management is on track to increase market share via network optimization, solid innovation and a better customer experience. In its last earnings call, the company highlighted that it focuses on four areas to execute the Fuel the Future strategy and achieve its fiscal 2024 financial targets. The four priorities include a focus on delivering major value to its customers, improving the way of partnering with suppliers, providing associates with unmatched career opportunities and supporting communities and the planet. The company is inclined to improve every aspect of its sales and supply chain execution to deliver products and services to its customers. In this regard, the company’s one-UNFI initiative has been gaining traction. We note that management expects to achieve average annual growth rates for net sales of 3-5%, adjusted EBITDA of 6-10% and adjusted earnings EPS of 12-18% in fiscal 2024.United Natural is on track to undertake growth initiatives under its future pillar that includes brands, professional services and fresh. As part of growing its brands business, management is making progress with the three-pronged strategy based on deepening its penetration with existing customers, introducing owned brands to new customers and channels and undertaking customer-friendly innovations. The company is on track to expand its professional services by bringing new ideas to its customers. Lastly, the company is on track to invest in its people, infrastructure and technology as part of its fresh growth pillar.Acquisitions Driving GrowthThe company has been undertaking various acquisitions over the years to expand its distribution network and customer base and boost long-term growth. In this regard, United Natural completed the buyout of SUPERVALU in October 2018. The enhanced scale of the combined entities has been aiding United Natural’s performance. Moreover, the merger has provided better-competing grounds to the company in the grocery space by augmenting offerings.Several other companies in the food space are benefiting from acquisitions like McCormick & Company MKC, Hormel Foods Corporation HRL and The Hershey Company HSY. McCormick increased its presence through acquisitions to enhance its portfolio. MKC bought a 100% stake in FONA International, LLC and some of its affiliates. FONA’s diverse portfolio helps McCormick bolster its value-add offerings and expand the flavor solutions segment into attractive categories. In November 2020, McCormick completed the acquisition of the parent company of Cholula Hot Sauce — a premium Mexico-based hot sauce brand.Hormel Foods is strengthening its business on the back of strategic acquisitions. In June 2021, the company acquired the Planters snacking portfolio. Prior to this, HRL acquired Texas-based pit-smoked meats company Sadler's Smokehouse in March 2020. The buyout is in sync with Hormel Foods’ initiatives to strengthen its position in the foodservice space.Hershey is undertaking buyouts to augment portfolio strength and boost revenues. In December 2021, Hershey acquired Dot’s Pretzels LLC — the owner of Dot’s Homestyle Pretzels — a leading brand in the pretzel category. The addition of Dot’s Pretzels is a perfect match for HSY’s growing salty snacking portfolio. The company also acquired Pretzels Inc. from an affiliate of Peak Rock Capital. The acquisition expands Hershey’s snacking and production capabilities.E-commerce StrengthUnited Natural’s sales are benefiting from e-commerce strength, thanks to increased e-commerce solutions offered by the company. Incidentally, several of the company’s Independents channel and a Chains channel provide e-commerce solutions to their customers. Further, United Natural offers digital platforms and the support needed by its customers. Management is on track to roll out additional marketing and analytics capabilities to further improve customers’ brand experience. United Natural is keen on strengthening its e-commerce business.We believe that robust online business and the aforementioned upsides will likely continue enhancing UNFI’s growth prospects in the future. Zacks' Top Picks to Cash in on Electric Vehicles Big money has already been made in the Electric Vehicle (EV) industry. But, the EV revolution has not hit full throttle yet. There is a lot of money to be made as the next push for future technologies ramps up. Zacks’ Special Report reveals 5 picks investorsSee 5 EV Stocks With Extreme Upside Potential >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Hershey Company The (HSY): Free Stock Analysis Report Hormel Foods Corporation (HRL): Free Stock Analysis Report McCormick & Company, Incorporated (MKC): Free Stock Analysis Report United Natural Foods, Inc. (UNFI): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksJun 15th, 2022

ABM Reports Second Quarter Fiscal 2022 Results and Reaffirms Full Year Guidance for Adjusted EPS

Generates revenue of $1.9 billion, up 26.7% year-over-year, including organic growth of 7.5% Posts net income of $48.8 million and GAAP EPS of $0.72, both up 57% year-over-year Records adjusted EBITDA of $118.9 million, up 12% year-over-year Delivers adjusted EPS of $0.89, up 9% year-over-year NEW YORK, June 08, 2022 (GLOBE NEWSWIRE) -- ABM (NYSE:ABM), a leading provider of facility solutions, today announced financial results for the second quarter of fiscal 2022. Scott Salmirs, ABM's President and Chief Executive Officer commented, "ABM posted strong results in the second quarter, continuing the momentum we saw at the start of the year. I am particularly pleased with our organic growth of 7.5%, which was driven by solid demand across Business & Industry, Aviation, Manufacturing & Distribution, and Technical Solutions, especially in our eMobility business. Our teams executed well, largely mitigating wage cost inflation and delivering an adjusted EBITDA margin of 6.5%, which is a significant improvement over pre-pandemic levels. This result is indicative of our strong client relationships and emphasis on profitability." "In all, our financial performance was largely driven by acquisitions, strong demand for our core janitorial services, and the ongoing recovery in the aviation market, partially offset by the expected decline in disinfection-related work orders and EnhancedClean™ services from the heightened levels in last year's second quarter." Mr. Salmirs continued, "Looking forward, ABM is well positioned for growth in the current economic environment, reflecting the essential nature of the work we do and continued client demand for services that promote healthy buildings, sustainability and energy efficiency. This belief is supported by $795 million in new sales bookings for the first six months of 2022, an increase of 11% over the prior year period. ABM has performed well throughout the first half of the year and we expect our end-markets to remain resilient, even as the economy continues to face inflationary pressures. Given this backdrop, we are reaffirming our full year adjusted EPS guidance." Second Quarter Financial and Business Results For the second quarter of fiscal 2022, the Company reported revenue of $1.9 billion, up 26.7% over the prior year period, comprised of 7.5% organic growth and 19.2% from acquisitions. As anticipated, the Company's revenue mix reflected a decrease in disinfection-related work orders and EnhancedClean™ business versus the prior year period. Organic revenue growth was led by a 27% year-over-year gain in Aviation, driven by recovering consumer and business travel, and by an 18% gain in Technical Solutions, powered by strong growth in the Company's e-mobility business. Business & Industry grew 6% organically, with B&I's total revenue growth of 48.9% reflecting a full quarter of Able revenue and three weeks of the Momentum acquisition. Manufacturing & Distribution posted organic growth of 5%, while Education organic revenue decreased 4%. On a GAAP basis, the Company reported net income of $48.8 million, or $0.72 per diluted share compared to net income of $31.1 million, or $0.46 per diluted share last year. Both GAAP net income and diluted earnings per share increased 57% versus the prior year period. The second quarter of 2022 growth rate was driven by higher segment earnings on significantly higher revenue and the absence of a litigation reserve taken in the prior year period, which were partially offset by ELEVATE transformation costs. Results for the quarter on both a GAAP and adjusted basis reflected increased operating earnings on higher revenue as well as the benefits of one less work day. These were partially offset by the impact of a decrease in the volume of higher-margin virus protection services and work orders and higher costs. Adjusted net income for the second quarter of 2022 was $60.2 million, or $0.89 per diluted share, representing increases of 8% and 9%, respectively, over the $55.5 million, or $0.82 per diluted share recorded in the second quarter of fiscal 2021. Adjusted results exclude items impacting comparability. A description of items impacting comparability can be found in the "Reconciliation of Non-GAAP Financial Measures" table. Adjusted EBITDA for the quarter was $118.9 million compared to $106.6 million in the second quarter of fiscal 2021, an increase of 12%. Adjusted EBITDA margin for the quarter was 6.5% versus 7.4% last year, primarily reflecting the aforementioned change in service mix and cost increases. Update on ELEVATE The Company continued to make progress on several ELEVATE initiatives during the second quarter, including advancement in designing and testing its core cloud-based ERP system and further refinement of its cloud-based recruiting and tracking system and processes. In addition, the Company closed on the purchase of Ireland-based Momentum Support during the second quarter, further executing its ELEVATE strategy to grow through strategic acquisitions. The acquisition is expected to provide annualized revenue of approximately $70 million and expands ABM's footprint to the Ireland market. Momentum offers a blue-chip customer base and provides attractive cross-selling opportunities to existing ABM clients with operations in Ireland. Liquidity, Capital Structure & Share Repurchases The Company ended the quarter with total debt of $1,335.7 million, including $162.4 million in standby letters of credit, resulting in a total leverage ratio, as defined by the Company's credit facility, of 2.4x. In total, the Company had available liquidity of approximately $781 million, inclusive of cash and cash equivalents of $48.9 million. During the second quarter, the Company repurchased 0.7 million shares of its common stock at an average share price of $43.50, for a total cost of $30.0 million. Through the first half of the year, the Company has repurchased 1.0 million shares for $43.3 million. Declaration of Quarterly Cash Dividend The Company announced that the Board of Directors has declared a cash dividend of $0.195 per common share payable on August 1, 2022 to shareholders of record on July 7, 2022. This will be the Company's 225th consecutive quarterly cash dividend. Guidance For full year 2022, the Company now expects GAAP EPS to be in the range of $2.91 to $3.11, compared to $2.65 to $2.85 previously. This increase reflects a combined $0.26 EPS benefit from changes in items impacting comparability. Excluding these items, the Company reaffirms its prior guidance for full year 2022 adjusted EPS of $3.50 to $3.70, and for adjusted EBITDA margin to be in the range of 6.4% to 6.8%. Conference Call Information ABM will host its quarterly conference call for all interested parties on Wednesday, June 8, 2022, at 5:00 PM (ET). The live conference call can be accessed via audio webcast at the "Investors" section of the Company's website, located at www.abm.com, or by dialing (877) 451-6152 (domestic) or (412) 317-6671 (international) approximately 15 minutes prior to the scheduled time.  A supplemental presentation will accompany the webcast on the Company's website. A replay will be available approximately two hours after the webcast through June 22, 2022, and can be accessed by dialing (844) 512-2921 and then entering ID #13729675.  A replay link of the webcast will also be archived on the ABM website for 90 days. About ABM ABM (NYSE:ABM) is one of the world's largest providers of integrated facility services. A driving force for a cleaner, healthier, and more sustainable world, ABM provides essential services that improve the spaces and places that matter most. From curbside to rooftop, ABM offers a comprehensive array of facility services that includes janitorial, engineering, parking, electrical & lighting, energy solutions, HVAC & mechanical, landscape & turf, and mission critical solutions. ABM delivers these custom facility solutions to properties across a wide range of industries – from commercial office buildings to schools, airports, hospitals, data centers, manufacturing plants and distribution centers, entertainment venues and more. Founded in 1909, ABM serves over 20,000 clients, with annualized revenue exceeding $7 billion and more than 100,000 team members in 350+ offices throughout the United States, United Kingdom and other international locations. For more information, visit www.abm.com. Cautionary Statement under the Private Securities Litigation Reform Act of 1995 This press release contains both historical and forward-looking statements about ABM Industries Incorporated ("ABM") and its subsidiaries (collectively referred to as "ABM," "we," "us," "our," or the "Company"). We make forward-looking statements related to future expectations, estimates and projections that are uncertain, and often contain words such as "anticipate," "believe," "could," "estimate," "expect," "forecast," "intend," "likely," "may," "outlook," "plan," "predict," "should," "target," or other similar words or phrases. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and assumptions that are difficult to predict. For us, particular uncertainties that could cause our actual results to be materially different from those expressed in our forward-looking statements include: The COVID-19 pandemic has had and is expected to continue having a negative effect on the global economy, and the United States economy, and it has disrupted and is expected to continue disrupting our operations and our clients' operations, which may adversely affect our business, results of operations, cash flows, and financial condition; our success depends on our ability to gain profitable business despite competitive market pressures; our business success depends on our ability to attract and retain qualified personnel and senior management and to manage labor costs; investments in and changes to our businesses, operating structure, financial reporting structure, or personnel relating to our ELEVATE strategy, including the implementation of strategic transformations, enhanced business processes, and technology initiatives may not have the desired effects on our financial condition and results of operations; our ability to preserve long-term client relationships is essential to our continued success; our international business involves risks different from those we face in the United States that could have an effect on our results of operations and financial condition; our use of subcontractors or joint venture partners to perform work under customer contracts exposes us to liability and financial risk; acquisitions, divestitures, and other strategic transactions could fail to achieve financial or strategic objectives, disrupt our ongoing business, and adversely impact our results of operations; we may experience difficulties integrating Able Services and may not realize the growth opportunities and cost synergies that are anticipated from the Able acquisition; we manage our insurable risks through a combination of third-party purchased policies and self-insurance, and we retain a substantial portion of the risk associated with expected losses under these programs, which exposes us to volatility associated with those risks, including the possibility that changes in estimates to our ultimate insurance loss reserves could result in material charges against our earnings; our risk management and safety programs may not have the intended effect of reducing our liability for personal injury or property loss; we may experience breaches of, or disruptions to, our information technology systems or those of our third-party providers or clients, or other compromises of our data that could adversely affect our business; unfavorable developments in our class and representative actions and other lawsuits alleging various claims could cause us to incur substantial liabilities; a significant number of our employees are covered by collective bargaining agreements that could expose us to potential liabilities in relation to our participation in multiemployer pension plans, requirements to make contributions to other benefit plans, and the potential for strikes, work slowdowns or similar activities, and union organizing drives; our business may be materially affected by changes to fiscal and tax policies; negative or unexpected tax consequences could adversely affect our results of operations; changes in general economic conditions, such as changes in energy prices, government regulations, or consumer preferences, could reduce the demand for facility services and, as a result, reduce our earnings and adversely affect our financial condition; future increases in the level of our borrowings or in interest rates could affect our results of operations; impairment of goodwill and long-lived assets could have a material adverse effect on our financial condition and results of operations; if we fail to maintain proper and effective internal control over financial reporting in the future, our ability to produce accurate and timely financial statements could be negatively impacted, which could harm our operating results and investor perceptions of our Company and as a result may have a material adverse effect on the value of our common stock; our business may be negatively impacted by adverse weather conditions; catastrophic events, disasters, and terrorist attacks could disrupt our services; actions of activist investors could disrupt our business. For additional information on these and other risks and uncertainties we face, see ABM's risk factors, as they may be amended from time to time, set forth in our filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K and subsequent filings. We urge readers to consider these risks and uncertainties in evaluating our forward-looking statements. We caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. Use of Non-GAAP Financial Information To supplement ABM's consolidated financial information, the Company has presented net income and net income per diluted share as adjusted for items impacting comparability for the second quarter of fiscal years 2022 and 2021. These adjustments have been made with the intent of providing financial measures that give management and investors a better understanding of the underlying operational results and trends as well as ABM's operational performance. In addition, the Company has presented earnings, net of taxes, interest, taxes, depreciation and amortization and excluding items impacting comparability (adjusted EBITDA) for the second quarter of fiscal years 2022 and 2021. Adjusted EBITDA is among the indicators management uses as a basis for planning and forecasting future periods. Adjusted EBITDA margin is defined as adjusted EBITDA divided by revenue excluding management reimbursement. We cannot provide a reconciliation of forward-looking non-GAAP adjusted EBITDA margin measures to GAAP due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliation. The Company has also presented Free Cash Flow which is defined as net cash provided by (used in) operating activities less additions to property, plant and equipment. The presentation of these non-GAAP financial measures is not meant to be considered in isolation or as a substitute for financial statements prepared in accordance with accounting principles generally accepted in the United States of America. (See accompanying financial tables for supplemental financial data and corresponding reconciliations to certain GAAP financial measures.) We round amounts to millions but calculate all percentages and per-share data from the underlying whole-dollar amounts. As a result, certain amounts may not foot, crossfoot, or recalculate based on reported numbers due to rounding. Unless otherwise noted, all references to years are to our fiscal year, which ends on October 31. Contact:   Investor Relations: Paul Goldberg   (212) 297-9721   ir@abm.com     ABM INDUSTRIES INCORPORATED AND SUBSIDIARIES CONSOLIDATED INCOME STATEMENT INFORMATION (UNAUDITED)     Three Months Ended April 30,     (in millions, except per share amounts)     2022       2021     Increase /(Decrease) Revenues   $ 1,897.8     $ 1,497.4     26.7  % Operating expenses     1,648.3       1,274.5     29.3  % Selling, general and administrative expenses(1)     156.8       161.9     (3.1 )% Amortization of intangible assets     17.6       10.7     64.8  % Operating profit     75.0       50.3     49.1  % Income from unconsolidated affiliates     0.6       0.2     NM * Interest expense     (7.8 )     (7.8 )   (0.2 )% Income before income taxes     67.8       42.8     58.4  % Income tax provision     (19.0 )     (11.7 )   (62.6 )% Net income   $ 48.8     $ 31.1     56.9  % Net income per common share             Basic   $ 0.73     $ 0.46     58.7  % Diluted     0.72     $ 0.46     56.5  % Weighted-average common and common equivalentshares outstanding             Basic     67.2       67.3       Diluted     67.5       67.8       Dividends declared per common share   $ 0.195     $ 0.190                             *Not meaningful (due to variance greater than or equal to +/-100%) (1) 2021 includes $30 million litigation settlement reserve   ABM INDUSTRIES INCORPORATED AND SUBSIDIARIES CONSOLIDATED INCOME STATEMENT INFORMATION (UNAUDITED)     Six Months Ended April 30,     (in millions, except per share amounts)     2022       2021     Increase / (Decrease) Revenues   $ 3,834.1     $ 2,989.8     28.2  % Operating expenses     3,307.9       2,523.8     31.1  % Selling, general and administrative expenses(1)     309.9       284.5     8.9  % Amortization of intangible assets     35.2       21.5     63.6  % Operating profit     181.0       160.1     13.1  % Income from unconsolidated affiliates     1.0       0.8     23.2  % Interest expense     (14.1 )     (16.3 )   13.7  % Income before income taxes     168.0       144.6     16.2  % Income tax provision     (43.2 )     (38.9 )   (11.2 )% Net income   $ 124.8     $ 105.7     18.0  % Net income per common share             Basic   $ 1.85     $ 1.57     17.8  % Diluted     1.84     $ 1.56     17.9  % Weighted-average common and common equivalentshares outstanding             Basic     67.5       67.2       Diluted     67.9       67.7       Dividends declared per common share   $ 0.390     $ 0.380                             (1) 2021 includes $30 million litigation settlement reserve   ABM INDUSTRIES INCORPORATED AND SUBSIDIARIES SELECTED CONSOLIDATED CASH FLOW INFORMATION (UNAUDITED)     Three Months Ended April 30, (in millions)     2022       2021   Net cash (used in) provided by operating activities(a)   $ (43.9 )   $ 125.9   Additions to property, plant and equipment     (10.0 )     (8.3 ) Purchase of businesses, net of cash acquired     (56.7 )     —   Other     3.6       0.2   Net cash used in investing activities   $ (63.1 )   $ (8.2 ) Proceeds from issuance of share-based compensation awards, net     0.8       0.9   Repurchases of common stock     (30.0 )     —   Dividends paid     (13.0 )     (12.7 ) Borrowings from credit facility     245.1       —   Repayment of borrowings from credit facility     (80.7 )     (50.2 ) Changes in book cash overdrafts     (15.0 )     (1.3 ) Financing of energy savings performance contracts     4.0       3.5   Repayment of finance lease obligations     (0.4 )     (0.8 ) Net cash provided by (used in) financing activities   $ 110.9    .....»»

Category: earningsSource: benzingaJun 8th, 2022

Post Holdings (POST) Foodservice Rebound Aids, High Costs Stay

Post Holdings (POST) is benefiting from acquisitions and the foodservice business rebound. However, input and freight inflation and other supply-chain hurdles are a concern. Post Holdings, Inc. POST is benefiting from its focus on acquisitions, helping it expand its customer base. Recovery in the Foodservice channelis working well for the consumer-packaged goods company. These factors drove the company’s second-quarter fiscal 2022 results, with the top and the bottom line increasing year over year and beating the Zacks Consensus Estimate.However, supply-chain challenges and escalated costs have been hurdles.Let’s take a closer look.Image Source: Zacks Investment ResearchPrudent Acquisitions Fuel GrowthThe Zacks Rank #3 (Hold) company has strategically increased its presence through acquisitions. During the second quarter of fiscal 2022, Post Holdings’ top line included $102.1 million in net sales from acquisitions. These acquisitions include the Private label ready-to-eat (PL RTE) cereal business, the Egg Beaters liquid egg brand, the Almark Foods business and related assets and the Peter Pan nut butter brand.On Apr 5, 2022, Post Holdings acquired Lacka Foods Limited. Lacka Foods is a U.K.-based marketer of high protein, ready-to-drink (RTD) shakes under the UFIT brand. Post Holdings acquired Almark Foods (or Almark) on Feb 1, 2021. Almark, which is renowned for its hard-cooked and deviled egg products, provides conventional, organic and cage-free products. On Jan 25, Post Holdings acquired the Peter Pan peanut butter brand. Notably, the Peter Pan peanut butter is one of the leading brands that cater to a diversified customer base in key channels.Several other companies in the food space are benefiting from acquisitions like McCormick & Company MKC, Hormel Foods Corporation HRL and The Hershey Company HSY. McCormick increased its presence through acquisitions to enhance its portfolio. MKC bought a 100% stake in FONA International, LLC and some of its affiliates. FONA’s diverse portfolio helps McCormick bolster its value-add offerings and expand the flavor solutions segment into attractive categories. In November 2020, McCormick completed the acquisition of the parent company of Cholula Hot Sauce — a premium Mexico-based hot sauce brand.Hormel Foods is strengthening its business on the back of strategic acquisitions. In June 2021, the company acquired the Planters snacking portfolio. Prior to this, HRL acquired Texas-based pit-smoked meats company Sadler's Smokehouse in March 2020. The buyout is in sync with Hormel Foods’ initiatives to strengthen its position in the foodservice space.Hershey is undertaking buyouts to augment portfolio strength and boost revenues. In December 2021, Hershey acquired Dot’s Pretzels LLC — the owner of Dot’s Homestyle Pretzels — a leading brand in the pretzel category. The addition of Dot’s Pretzels is a perfect match for HSY’s growing salty snacking portfolio. The company also acquired Pretzels Inc. from an affiliate of Peak Rock Capital. The acquisition expands Hershey’s snacking and production capabilities.Foodservice Recovery AidsPost Holdings is benefiting from a recovery in the Foodservice business. During the second quarter of fiscal 2022, Foodservice sales increased 22.4% to $451.9 million. Volumes rose 10.9% due to the increased away-from-home egg and potato demand and potato distribution gains. Management highlighted that volumes in certain channels and product categories in the foodservice business have almost fully recovered to pre-pandemic levels. In aggregate, overall foodservice volumes are still below pre-pandemic levels. That being said, management expects the foodservice business to return to pre-pandemic profitability in fiscal 2023.Will Hurdles be Countered?Post Holdings continues to battle supply-chain challenges in all segments due to labor shortages, input and freight inflation and other supply-chain hurdles, such as input availability. Per unit product costs have been rising while service and fill rates remain under normal levels. Also, inventories are low. While these factors are improving, they are likely to linger throughout fiscal 2022. We note that the Ukraine war has elevated inflationary headwinds. Management expects certain energy and raw material expenses to remain high due to the conflict.The company’s second-quarter fiscal 2022 gross margin contracted from 30.3% to 26.8%. The downside can be attributed to higher raw material, freight and manufacturing costs. Apart from this, Post Holdings’ SG&A expenses increased 17% year over year to $235.4 million in the quarter.It is yet to be seen if the aforementioned upsides can help Post Holdings stay afloat amid such hurdles. The company’s stock has decreased 12.5% in the past six months against the industry’s 8.4% growth.You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Hershey Company The (HSY): Free Stock Analysis Report Hormel Foods Corporation (HRL): Free Stock Analysis Report McCormick & Company, Incorporated (MKC): Free Stock Analysis Report Post Holdings, Inc. (POST): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksMay 31st, 2022

McCormick (MKC) Poised on Innovations & Prudent Acquisitions

McCormick (MKC) enhances products through innovation to stay competitive and tap the evolving demand. The company is increasing its presence through acquisitions. McCormick & Company MKC is capitalizing on healthy and flavorful cooking, increased digital engagement and purpose-minded practices. The global leader in flavor is benefiting from a robust recovery in the away-from-home demand. The Zacks Rank #2 (Buy) company’s strategic buyouts and effective cost-saving plans are yielding.You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Image Source: Zacks Investment ResearchProduct Innovations Fuel GrowthMcCormick regularly enhances products through innovation to stay competitive and tap the evolving demand for new flavors, spices and herbs. Aided by a sturdy brand image, McCormick enjoys strong retail acceptance for its new products. The company is on track to augment robust marketing support for its products. New product launches are an important part of the company’s growth. The company is optimistic about its robust pipeline of innovation in 2022. Management is leveraging its broad technology platform to develop clean label, organic and better-for-you solutions amid rising consumer’s health consciousness. The company remains well aligned with consumer demand for flavorful, healthy eating and developed a range of natural and organic offerings. In this regard, the company’s Flavor Real platform offers organic, non-GMO and gluten-free products. The acquisition of FONA (December 2020) has bolstered the company’s clean and natural platform.Expansion through AcquisitionsMcCormick increased its presence through acquisitions to enhance its portfolio. The company bought a 100% stake in FONA International, LLC and some of its affiliates. FONA’s diverse portfolio helps McCormick bolster its value-add offerings and expand the flavor solutions segment into attractive categories. In November 2020, McCormick completed the acquisition of the parent company of Cholula Hot Sauce — a premium Mexico-based hot sauce brand. McCormick believes that the buyout of Cholula accelerates its growth potential across the condiment platform and widens the product portfolio in the hot sauce category.Several other companies in the food space are benefiting from acquisitions like Post Holdings, Inc. POST, Hormel Foods Corporation HRL and The Hershey Company HSY.During the second quarter of fiscal 2022, Post Holdings’top line included $102.1 million in net sales from acquisitions. These acquisitions include the Private label ready-to-eat (PL RTE) cereal business, the Egg Beaters liquid egg brand, the Almark Foods business and related assets and the Peter Pan nut butter brand. On Apr 5, 2022, POST acquired Lacka Foods Limited. Lacka Foods is a U.K.-based marketer of high protein, ready-to-drink (RTD) shakes under the UFIT brand. Also, on Feb 1, 2021, POST acquired Almark Foods, which is renowned for its hard-cooked and deviled egg products and provides conventional, organic and cage-free products. On Jan 25, Post Holdings acquired Conagra Brands’ Peter Pan peanut butter brand.Hormel Foods is strengthening its business on the back of strategic acquisitions. In June 2021, the company acquired the Planters snacking portfolio. Prior to this, HRL acquired Texas-based pit-smoked meats company Sadler's Smokehouse in March 2020. The buyout is in sync with Hormel Foods’ initiatives to strengthen its position in the foodservice space.Hershey is undertaking buyouts to augment portfolio strength and boost revenues. In December 2021, Hershey acquired Dot’s Pretzels LLC — the owner of Dot’s Homestyle Pretzels — a leading brand in the pretzel category. The addition of Dot’s Pretzels is a perfect match for HSY’s growing salty snacking portfolio. The company also acquired Pretzels Inc. from an affiliate of Peak Rock Capital. The acquisition expands Hershey’s snacking and production capabilities.Savings Fuel GrowthMcCormick is focused on saving costs and enhancing productivity through the ongoing Comprehensive Continuous Improvement (CCI) program. Starting in 2009, McCormick’s CCI program helped the company reduce costs and enhance productivity. It has used CCI savings to increase investments, leading to higher sales and profits. Management expects to achieve CCI-led cost savings of nearly $85 million in 2022.We believe that such cost savings and the aforementioned upsides are likely to help the company keep its growth story going. MKC’s stock has increased 4.3% in the past year against the industry’s 7.4% decline. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Hershey Company The (HSY): Free Stock Analysis Report Hormel Foods Corporation (HRL): Free Stock Analysis Report McCormick & Company, Incorporated (MKC): Free Stock Analysis Report Post Holdings, Inc. (POST): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksMay 31st, 2022

McCormick (MKC) Poised on Prudent Buyouts & Cost Savings

McCormick (MKC) is expanding its portfolio through strategic acquisitions. The company's focus on cost savings bodes well amid inflationary pressure. McCormick & Company MKC is on track to capitalize on the sustained shift to cooking more at home, higher digital engagement, clean and flavorful eating as well as trusted brands. Also, a robust recovery in the away-from-home demand has been aiding the company. Apart from these, the global leader in flavor is benefiting from lucrative acquisitions. Also, its cost-saving efforts bode well amid inflationary pressure.Acquisitions Driving GrowthMcCormick strategically increased its presence through acquisitions to grow its portfolio. In December 2020, McCormick bought a 100% stake in FONA International, LLC and some of its affiliates. FONA’s diverse portfolio helps McCormick bolster its value-add offerings and expand the flavor solutions segment into attractive categories. In November 2020, McCormick completed the acquisition of the parent company of Cholula Hot Sauce — a premium Mexico-based hot sauce brand. The buyout of Cholula accelerates McCormick’s growth potential across the condiment platform and widens the product portfolio in the hot sauce category.Several other companies in the food space are benefiting from acquisitions like Post Holdings, Inc. POST, Hormel Foods Corporation HRL and The Hershey Company HSY. During the first quarter of fiscal 2022, Post Holdings' top line included $97.8 million in net sales from acquisitions. This includes the Private label ready-to-eat (PL RTE) cereal business, Egg Beaters liquid egg brand, Almark Foods business and related assets as well as the Peter Pan nut butter brand.Hormel Foods is strengthening its business on the back of strategic acquisitions. In June 2021, the company acquired the Planters snacking portfolio. Prior to this, the company acquired Texas-based pit-smoked meats company Sadler's Smokehouse in March 2020. The buyout is in sync with Hormel Foods’ initiatives to strengthen its position in the foodservice space.Hershey has been undertaking buyouts to augment portfolio strength and boost revenues. In December 2021, Hershey acquired Dot’s Pretzels LLC — the owner of Dot’s Homestyle Pretzels — a leading brand in the pretzel category. The addition of Dot’s Pretzels is a perfect match for Hershey’s growing salty snacking portfolio. The company also purchased Pretzels Inc. from an affiliate of Peak Rock Capital. The acquisition expands Hershey’s snacking and production capabilities.Will Cost Hurdles be Countered?McCormick has been grappling with cost inflation for a while now. During fourth-quarter fiscal 2021, the company’s gross profit margin contracted 180 basis points (bps) to 40.6%, thanks to increased cost inflation. In its last earnings call, management highlighted that it continues to face cost pressures from higher inflation along with broad-based supply chain-related hurdles.That said, McCormick is on track to counter the inflationary pressure through various pricing and cost-saving actions. The company focuses on saving costs and enhancing productivity through the Comprehensive Continuous Improvement (CCI) program. McCormick’s CCI program helped the company to reduce costs and enhance productivity. Just Released: Zacks Top 10 Stocks for 2022 In addition to the investment ideas discussed above, would you like to know about our 10 top picks for the entirety of 2022? From inception in 2012 through 2021, the Zacks Top 10 Stocks portfolios gained an impressive +1,001.2% versus the S&P 500’s +348.7%. Now our Director of Research has combed through 4,000 companies covered by the Zacks Rank and has handpicked the best 10 tickers to buy and hold. Don’t miss your chance to get in…because the sooner you do, the more upside you stand to grab.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Hershey Company The (HSY): Free Stock Analysis Report Hormel Foods Corporation (HRL): Free Stock Analysis Report McCormick & Company, Incorporated (MKC): Free Stock Analysis Report Post Holdings, Inc. (POST): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksMar 18th, 2022

From Local Leader to Worldwide Contender

As 2021 came to a close, Thad Wong and the company he founded with Mike Golden more than 20 years ago—Chicago-based @properties—made a giant leap forward with the acquisition of the Christie’s International Real Estate brand and network. The acquisition was soon followed by two additional power moves: the sale of the Christie’s company-owned Manhattan […] The post From Local Leader to Worldwide Contender appeared first on RISMedia. As 2021 came to a close, Thad Wong and the company he founded with Mike Golden more than 20 years ago—Chicago-based @properties—made a giant leap forward with the acquisition of the Christie’s International Real Estate brand and network. The acquisition was soon followed by two additional power moves: the sale of the Christie’s company-owned Manhattan brokerage to Brown Harris Stevens, and the rebranding of the company as @properties Christie’s International Real Estate. According to Wong, the Christie’s deal creates a compelling alliance, combining the technology acumen and independent brokerage expertise of @properties with a 250-year-old global, luxury brand. In this exclusive interview with Wong, RISMedia Founder & CEO John Featherston and I get a behind-the-scenes look at how the deal came together, what it means for the future of @properties and what’s in store for real estate brokerage at large. Maria Patterson: Let’s begin with the Christie’s International Real Estate acquisition. Tell us a bit about the backstory. Thad Wong: We viewed the Christie’s partnership as the greatest listing presentation we’d ever been on. It was a very competitive, sought-after relationship and brand, so we did everything that the best agency would do. We created a full, physical presentation of what our marketing materials would look like with the Christie’s brand. We were presenting to people in London and in Paris, so we had custom boxes sent to each board member, and in them, was our physical listing presentation. MP: With your technology prowess, why did you opt to send a physical presentation? TW: I’m still a big believer in physical presentation. Physical is still a way of expressing the quality of your brand to the consumer, so we created leather briefcases and leather folios for our listing presentation for Christie’s. We also created a beautiful video that went over the entire history of Christie’s. We wove in the benefit of @properties—our value proposition, which is our technology, our marketing, our training and coaching, our culture and the credibility of our reputation. You’ve got great brands out there, but none of them are being run by true brokerage companies. John Featherston: So your history as an independent brokerage was a big factor in winning this deal… TW: I’m a big believer that the independent operator will always win in a local market because of their understanding of their market, their relationships and connections with their agents, and because they’ve got real skin in the game, real ownership interest. And a lot of pressure has been put on them over the last five years, especially from Compass and the VC dollars that have come into the industry. Our technology is the best tech in real estate. We’ve built all of our own technology and it’s fully integrated. (Christie’s) saw that we had a tech solution and they saw our physical, and more importantly our digital, listing presentation; and then we went over our training and coaching, which is a big part of culture. Then they researched our reputation. And that’s how we won. MP: How confident were you that the deal would happen? TW: We were an underdog, in my opinion. But I thought, ‘Okay, if we put everything we’ve got into getting this deal, we will improve in every category, so I’m prepared not to get it.’ It reminded me of a listing I was trying to get in 2004-2005. We flew halfway around the country and did all these things to get the listing, and we didn’t get the listing. But we learned a lot about ourselves. So that’s the way I was approaching this. But I did say, we’re going to put all of our effort in. JF: What made your firm a compelling proposition for Christie’s? TW: Christie’s was trying to achieve a stronger international network. We explained to them the challenges within the industry—the challenges that independent operators have, their compressed margins—and we said, we can empower the best independents in North America; we can give them a plug-and-play value proposition that includes a fabulous brand that immediately identifies with luxury. We’ve got a two-year road map for our technology that we showed them. If we can give these independents the ability to plug into us, take the brand, take the tech, take the marketing, training and coaching, they can have a $20 billion infrastructure. And we speak the same language because we’re still operating a brokerage. There’s no broker I can call who’s not struggling with something that I’m also struggling with, and so there’s a lot of alignment, a lot of empathy, a lot of connection. MP: How long can you continue to say, “Hey, I’m an independent who understands the independent broker’s struggles.” Will you become too big for that? TW: First of all, you’d hope so, right? I guess that’s always the goal. But I don’t see that happening in my lifetime. We are not going to be Realogy in that sense. Our goal is to grow the network and really support the independents. I wear two hats: I wear my @properties hat and my Christie’s network hat, and I think I need to wear both in order to remain relevant to the client. The client is an independent broker, and if I’m not experiencing and operating the same way then I’m not as valuable to them as an ally, as a colleague. So, I don’t think I have to remove myself from @properties in order to do this. I still want to be agent-facing and come up with ideas that can improve the brokerage, because everything that we’re doing to improve @properties in Chicago is going to be airlifted and then applied to our affiliate partners. I think it would be a shame if I stopped doing that because I am super involved in the brokerage and we have a lot of ideas. MP: Why is staying innovative so critical, and how do you measure its success? TW: I’m a big believer in math. I like seeing adoption percentages and likelihood of conversion and increased followers. We’re telling our agents that if you don’t provide more value to the customer every single year, you can’t charge them the same rate. You just can’t. The way it’s going right now, you either have to charge less or provide more. And that’s the same thing for brokers. A brokerage has to continue to provide more resources to the agent to support their business. So we need to continue building our brokerage at @properties and that will help us to continue to scale it and offer those ideas and those solutions to our affiliates. And that is the goal: to build the strongest luxury network in the world. But in order to do that, it can’t just be a brand—it has to be infrastructure. MP: One of the cornerstones of your company is its culture—how do you plan on maintaining this focus as the company expands? TW: One of the most important things that we can offer our affiliates is our own experience as brokerage company operators. Other networks and franchisors cannot give their constituents the same insights or expertise, the same granular level of problem solving, because they are not running a brokerage firm. And that gives us a huge advantage as we expand. There are a lot of great operators in our network, and we can learn from them too, so it flows both ways. But the point is it’s critical for us to stay in the game. We want to stay in the game. Because continuing to develop the marketing, the tech, the culture that makes us a successful, profitable, market-leading brokerage will only help us provide more value for our affiliates. JF: What’s the next step for your own growth within @properties? TW: It took us a really long time to build the No. 1 luxury brand within the Chicago region, so we are going to lean heavily into Christie’s to expand that, to be dominant in that, and I think the brand addition was needed because @properties doesn’t lend itself easily to a luxury brand. It’s tech, and tech isn’t always luxury. It’s functionality, it’s efficiency, it’s not Hermès. By adding this piece to it, we’ll be promoting a lot of the auction items alongside homes to make the branding, marketing and content of real estate far more interesting. So, if you can imagine a crocodile Birkin bag alongside a co-op facing Lake Shore Drive—a new, modern condo alongside a Beeple NFT. Things like that to engage with the customer more. Locally here, we have a huge amount of focus on growing our numbers in new markets. There are not that many new markets for us to go into in the Chicagoland area, but there’s a few, and so every year we’ll be opening a couple new offices. But probably the hardest job is maintenance rather than growth. We have to figure out every day how we help each one of our agents feel valued by the organization, so they feel valued as we grow. And that’s the greatest challenge we’ve ever had and it will still be our greatest challenge. If we can figure out how to get 3,500 agents to feel valued here, we can then help other independents. JF: Given the competition in the industry right now from the so-called “disruptors” and VC firms, what are you doing to retain your agents? TW: The thing (these firms) don’t offer is a value proposition to the consumer. What we learned is that when you only create a value proposition for the agent, you do not succeed in high net-worth areas. So they’re creating a magnet for agents who want to have their costs as low as possible so they can make as much money as possible. Those guys have done great at that. But you have to pick who’s your competition and who’s not your competition—they’re not my competition. I’m not making decisions based on what they’re doing. MP: How has your approach to recruiting and retention changed in pandemic times? What matters most to agents now? TW: You know, it’s funny. We actually just conducted a technology survey of our agents. And when we asked the question, ‘What initially attracted you to @properties?’ technology ranked 4th behind reputation, culture and marketing. The industry is so focused on tech today, and companies have forgotten about relationships. It’s a never-ending battle, because the good agents are always getting recruited, but the companies that focus on relationships are the ones that are going to win. The pandemic forced us to get really creative, and I’m grateful because our team has done an incredible job. We’ve developed a lot of successful programs—both virtual and in-person—around recruiting and especially retention. And it has helped make our culture stronger than ever. And when your agents are loving your culture, that is the best recruiting tool you can possibly have. MP: In your opinion, what are the most daunting challenges facing brokers in the year ahead? Conversely, where does the greatest opportunity for business lie? TW: For the independent broker, I think the most daunting challenge is finding that solution that’s going to enable them to compete with the goliaths of the industry. Indies are getting squeezed from both sides. You’ve got margin compression from higher commissions, and then you’ve got the costs of providing operational solutions—primarily tech, but also marketing and other things—that are essential to agents running their business. That requires a ton of scale, and even then, there’s no guarantee you’ll get it right. But I think we’re coming into a moment where an independent broker can plug into a solution—not just ours, although we obviously love ours—and stand toe-to-toe with the corporate brokerages and come out on top. So the greatest challenge is also the greatest opportunity. And when this market turns—and it always does—there’s going to be tremendous pressure on the publicly-owned brokers to make moves that appease investors on quarterly earnings calls but that aren’t going to sit well with agents. And that’s when well-positioned indies stand to regain a lot of market share. Maria Patterson is RISMedia’s executive editor. Email her with your real estate news ideas, maria@rismedia.com. The post From Local Leader to Worldwide Contender appeared first on RISMedia......»»

Category: realestateSource: rismediaMar 11th, 2022

TotalEnergies (TTE), CTG to Build EV Charging Points in China

TotalEnergies (TTE) expands its footprint in the global EV charging market by entering into a JV with China Three Gorges Corporation to develop EV charging infrastructure within the Hubei Province. TotalEnergies SE TTE announced that it has entered into a joint venture with two affiliates of China Three Gorges Corporation (‘’CTG’’) to develop an electric vehicle (EV) charging network in the Hubei province of China. Per the agreement, the company will develop a high-power EV charging infrastructure and services within the Hubei Province through the installation and operation of more than 11,000 high-power charge points by 2025.The electricity supplied from the EV charging points will mostly come from renewable sources and lower mobility-related emissions in China. The two companies have plans to develop co-branded high-power charging hubs and standalone stations, open to the general public, equipped with 60-120 kW power charge points and having an average hosting capacity ranging between 20 and 50 vehicles each. The EV charging infrastructure development will support China’s ambition to be carbon net neutral by 2060 as vehicle pollution is a major contributor to emissions.TotalEnergies Developing EV Charging InfrastructureTotalEnergies already has electric charging point networks in some other cities of Europe and has plans to install more than 150,000 electric vehicle charge points in the country by 2025. The company also owns an EV charging network in Singapore and this new joint venture will further expand its footprint in electric mobility in Asia.The company has expertise and knowledge of developing electric vehicle charging infrastructure across the globe. With countries across the globe recognizing the need for cutting vehicle-related pollution, the acceptance of EVs is going to increase at a quick pace. TotalEnergies is expected to gain from the EV infrastructure development and aid in charging a huge volume of EVs.Demand for EV Charging Network to Rise GloballyPer International Energy Agency, the usage of EVs is going to increase around 36% annually from 2019 levels and touch 245 million vehicles across the globe in 2030. Successful transition from conventional fuel vehicles to EVs will need a well-structured EV charging network and TotalEnergies is a forerunner in setting up EV networks in different cities across the world. The company is expected to receive more contracts for developing EV charging networks as countries across the world understand the need for cutting transportation-related emissions.Given the huge potential for growth in the EV charging business, we have seen energy giants like BP Plc. BP to start investing in EV charging network development. BP has been developing the EV charging network in the United Kingdom and China.A proper and accessible electric charging infrastructure holds the key for the mass adoption of EVs by the common people. Tesla, Inc. TSLA is developing new and advanced models of EVs but delay in the EV charging infrastructure development could slow down the adoption of the same on a global scale.Price PerformanceIn the past 12 months, TotalEnergies’ shares have outperformed the industry.Image Source: Zacks Investment ResearchZacks Rank and Key PickTotalEnergies currently has a Zacks Rank #3 (Hold). A better-ranked stock in the same industry is Chesapeake Energy Corporation CHK, sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Chesapeake Energy delivered an average earnings surprise of 13.3% in the last four quarters. The Zacks Consensus Estimate for 2021 earnings has moved up 19% in the past 60 days to $8 per share. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report BP p.l.c. (BP): Free Stock Analysis Report Chesapeake Energy Corporation (CHK): Free Stock Analysis Report Tesla, Inc. (TSLA): Free Stock Analysis Report TotalEnergies SE Sponsored ADR (TTE): Free Stock Analysis Report To read this article on Zacks.com click here......»»

Category: topSource: zacksSep 28th, 2021

AVY expands into automotive component business via Japan affiliates

AVY Precision Technology is expanding its au.....»»

Category: topSource: digitimesDec 10th, 2019

A Raymond James subsidiary is rebranding

The subsidiary's six affiliates will retain their individual brand identities once the firm formally changes names later this year......»»

Category: topSource: bizjournals2 hr. 3 min. ago

As H-E-B expands into DFW, its Temple distribution facility is growing too

The San Antonio grocer will expand the current facility by 325,000 square feet and expects to create more than 100 jobs......»»

Category: topSource: bizjournals13 hr. 35 min. ago

Cornerstone Building (CNR) Divests Coil Coatings Business

Cornerstone Building (CNR) sells the coil coatings unit to reshape its portfolio. Cornerstone Building Brands, Inc. CNR divested its coil coatings business to BlueScope Steel Limited for $500 million in cash, thereby optimizing its portfolio for further growth in the large, deep markets and strengthening its financial flexibility. The transaction, which includes products sold under the Metal Coaters and Metal Prep brands, is subject to certain customary adjustments.This largest manufacturer of exterior building products in North America also inked a long-term supply deal with BlueScope to secure a continued supply of light gauge coil coating and painted hot roll steel at favorable service levels.On Jun 28, shares of Cornerstone Building inched up 0.2%.CNR has been actively involved in acquisitions and divestitures to drive growth. In an attempt to fuel high-growth, high-profitability businesses, it has been divesting assets on a regular basis.Moreover, on Mar 7, management announced that Cornerstone Building inked a deal with the affiliates of Clayton, Dubilier & Rice (CD&R) to sell its business for $5.8 billion in cash, including the assumption of debt.Per the deal, CNR’s shareholders will receive $24.65 in cash per share, representing an approximately 16% premium to the closing price of its common stock as of Mar 4, 2022. The deal is expected to close in the second or third quarter of 2022, subject to customary closing conditions, including the receipt of regulatory approvals.Image Source: Zacks Investment ResearchShares of this Zacks Rank #3 (Hold) player have surged 73.8% since Feb 4 (the last trading day prior to speculation in the market regarding a potential transaction) against the Zacks Building Products - Concrete and Aggregates industry’s 20.7% fall.You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Some Better-Ranked Stocks in the Construction SectorSterling Construction Company, Inc. STRL, a Zacks Rank #2 (Buy) player, is benefiting from broad-based growth across the E-Infrastructure, Building and Transportation solutions segments.The consensus mark for Sterling’s 2022 earnings has been stable at $2.88 per share over the past 30 days, suggesting 34% growth from the year-ago reported figure.Granite Construction Inc. GVA, a Zacks #2 Ranked player, is the largest diversified infrastructure company in the United States. GVA has been banking on strategic initiatives, inorganic moves and a strong bidding activity.Earnings estimates for 2022 have increased to $2.11 per share from $1.97 in the past 60 days. Earnings for the current year are expected to climb 17.2% year over year.AECOM ACM, with a Zacks Rank of 2, is a leading solutions provider for supporting professional, technical and management solutions for diverse industries across end markets like transportation, facilities, government and environmental, and energy and water businesses.AECOM’s expected earnings growth rate for 2022 is 21.6%. The consensus mark for 2022 earnings has moved up to $3.43 per share from $3.40 in the past 60 days. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AECOM (ACM): Free Stock Analysis Report Sterling Infrastructure, Inc. (STRL): Free Stock Analysis Report Granite Construction Incorporated (GVA): Free Stock Analysis Report Cornerstone Building Brands, Inc. (CNR): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacks16 hr. 35 min. ago

Popular St. Augustine craft cocktail spot expands into New Orleans

Odd Birds Group believes its new location is putting its brand — and St. Augustine —on the map......»»

Category: topSource: bizjournals18 hr. 51 min. ago

Why You Should Add Brown & Brown (BRO) Stock to Your Kitty

Improving new business, solid retention and continued rate increases for most lines of coverage poise Brown & Brown (BRO) well for growth. Brown & Brown, Inc.’s BRO strong performing segments, strategic buyouts to capitalize on growing markets opportunities, sturdy financial standing and effective capital deployment bode well for growth. These, along with favorable growth estimates, make it worth retaining in one’s portfolio.BRO is one of the largest insurance brokers whose total shareholder return has outperformed both its peer group and the S&P 500 in the last five years and has a solid track record of beating earnings estimates in the last 10 quarters.Optimistic Growth ProjectionsThe Zacks Consensus Estimate for BRO’s 2022 earnings is pegged at $2.28, indicating a 4.1% increase from the year-ago reported figure on 14% higher revenues of $3.4 billion. The consensus estimate for 2023 earnings is pegged at $2.56, indicating a 12% increase from the year-ago reported figure on 12.6% higher revenues of $3.9 billion.Zacks Rank & Price PerformanceBrown & Brown currently carries a Zacks Rank #2 (Buy). In the past year, the stock has gained 8.6% against the industry’s decrease of 4.2%.Image Source: Zacks Investment ResearchBusiness TailwindsIncreasing commissions and fees across its segments should drive the top line for Brown and Brown, which witnessed a five-year annual growth rate of 11.6%. Improving new business, solid retention and continued rate increases for most lines of coverage should help retain the growth momentum.Brown & Brown has an impressive inorganic story that helps strengthen its compelling products and service portfolio as well as expand its global reach.A solid capital position by virtue of sustained strong operational performance continues to aid BRO to make consistent investments in boosting organic growth and margin expansion.Solid Dividend HistoryBanking on strong capital and liquidity position, Brown & Brown has increased dividends at a five-year (2015 – 2022) CAGR of 6.3%, with a current dividend yield of 0.7%. It has a solid track of hiking dividends for the last 28 years, making it an attractive pick for yield-seeking investors.Attractive ValuationBRO stocks are trading at a discount to the industry average. Its price-to-book multiple of 3.77 is much lower than the industry average of 6.05. Before value expands, it is wise to take a position in the stock.Stocks to ConsiderSome better-ranked stocks in the insurance industry are HCI Group HCI, American Financial Group, Inc. AFG and Ryan Specialty Group Holdings, Inc. RYAN.The Zacks Consensus Estimate for HCI Group’s 2022 and 2023 earnings has moved 33.3% and 40% north, respectively, in the past 60 days and indicates a year-over-year increase of 280.9% and 75%, respectively. HCI Group’s sports a Zacks Rank #1 (Strong Buy).  You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for American Financial’s 2022 and 2023 earnings has moved 9.8% and 6.9% north, respectively, in the past 60 days. American Financial’s earnings surpassed estimates in each of the last four quarters, the average beat being 41.72%. AFG sports a Zacks Rank #1.The Zacks Consensus Estimate for Ryan Specialty’s  2022 and 2023 earnings has moved 3.4% and 4.3% north in the past 60 days and indicates a 13% and 19.3% year-over-year increase, respectively. Ryan Specialty delivered a four-quarter average earnings surprise of 19.7%.Shares of HCI have lost 32.8% in a year’s time while that of AFG and RYAN have gained 10.3% and 38.7% respectively in the same time frame. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report American Financial Group, Inc. (AFG): Free Stock Analysis Report Brown & Brown, Inc. (BRO): Free Stock Analysis Report HCI Group, Inc. (HCI): Free Stock Analysis Report Ryan Specialty Holdings Inc. (RYAN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacks20 hr. 3 min. ago

AMD"s Versal AI Core Powers Real-Time AI Processing for Canon

Advanced Micro Devices' (AMD) Versal AI Core Series and AMD AI Engine technology has been selected by Canon for running operations in its Free Viewpoint Video System. Advanced Micro Devices AMD recently announced that its Versal AI Core Series and AMD AI Engine technology have been selected by Canon CAJ for running operations in its Free Viewpoint Video System.The Canon Free Viewpoint Video system consists of a ring of high-resolution cameras, which are utilized in stadiums and arenas. The video system helps viewers to watch live sports events from varied angles. The Canon View Free Viewpoint System is expected to be deployed at various professional basketball arenas in the United States and other sports venues globally.Canon will utilize AMD's AI processing technology to revolutionize the live sports broadcasting experience. AMD's Versal AI Core enables high performance and ultra-low latency, which significantly reduces image processing time, thereby allowing speeding up live replays in near real-time compared to several minutes with other traditional architectures.Versal AI CORE is a Xilinx product that delivers AI inference and wireless acceleration with integrated AI engines. This product enables AMD to foray further into the AI space.As such, the recent partnership with Canon highlights how beneficial the Xilinx acquisition has been for AMD as it has been increasing the company's customer base.Advanced Micro Devices, Inc. Price and Consensus Advanced Micro Devices, Inc. price-consensus-chart | Advanced Micro Devices, Inc. QuoteAMD Ventures Into AI Space to Drive Price PerformanceAMD's shares have slumped 43.9% compared with the Zacks Electronics - Semiconductors industry's and the Zacks Computer and Technology sector's decline of 29.3% and 24.5%, respectively, in the year-to-date period.The decline was primarily due to the global supply chain challenges that have affected the semiconductor industry, the ongoing Russia-Ukraine war and rising inflation.Stiff competition from peers like NVIDIA NVDA remains a concern.NVIDIA has been benefiting from the rapid proliferation of AI. The company has been expanding its base in untapped markets like climate science, energy research, space exploration and digital biology.Nvidia has recently teamed up with Hewlett Packard Enterprise to bring AI software services to the cloud. NVIDIA AI enterprise is now available in Hewlett Packard Greenlake in select countries.NVIDIA shares have fallen 45.7% compared with the Zacks Semiconductor – General industry's decline of 35.4% on a year-to-date basis.However, AMD's top line is expected to benefit from its acquisition of Xilinx.Xilinx significantly expands AMD's technology and product portfolio and adds multiple high-margin long-term revenue streams across a new set of markets such as AI and AR.The recent buyout of Xilinx has helped AMD collaborate with Meta Platforms META to enter the Metaverse.AMD has become Meta's ecosystem partner, and AMD's radio chip Xilinx Zynq UltraScale RFSoC will be utilized to develop a Metaverse-ready radio access unit.The company is constantly enhancing the performance of its Ryzen processors to help address the rising demand for its Ryzen processors, courtesy of the increasing proliferation of AI and Machine Learning (ML) in industries like cloud, gaming and data centers.AMD anticipates revenues to improve as it forays into the AI market. This, in turn, will impact shareholders' wealth positively in the long run.AMD currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Advanced Micro Devices, Inc. (AMD): Free Stock Analysis Report NVIDIA Corporation (NVDA): Free Stock Analysis Report Canon, Inc. (CAJ): Free Stock Analysis Report Meta Platforms, Inc. (META): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacks20 hr. 3 min. ago

Rebounding Crude Oil Gets Far Away from the Bearish Side

Demand for crude oil is accelerating – a bullish sign for its prices. What may the current energy market environment say about the black gold’s outlook? A Chinese Panda’s Appetite On the Asian continent, the lifting of health restrictions in China could signal resuming oil demand for the world’s top consumer. Given the context of […] Demand for crude oil is accelerating – a bullish sign for its prices. What may the current energy market environment say about the black gold’s outlook? A Chinese Panda’s Appetite On the Asian continent, the lifting of health restrictions in China could signal resuming oil demand for the world’s top consumer. Given the context of tight supply, this has partially triggered a rebound in crude while driving prices higher. .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Ray Dalio Series in PDF Get the entire 10-part series on Ray Dalio in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q1 2022 hedge fund letters, conferences and more Geopolitical Scene The Libyan National Oil Company (NOC) warned that they could declare a state of "force majeure" on the facilities in the Gulf of Sirte – blocked due to the political crisis that has been hitting the country for months. In Ecuador as well, the spectre of a halt in oil production is becoming clearer following the blockades and demonstrations initiated by a movement protesting the rise in the cost of living. OPEC+ Struggles to Increase Volumes The United Arab Emirates assured that they were at maximum capacity, while Saudi Arabia stated it could pump an additional 150,000 barrels per day. It is important to note that these two producing countries are indeed the two OPEC+ members perceived to have the most spare oil production capacity. The 23 members of OPEC+ are just starting a series of two-day e-meetings on Wednesday (they should also meet on Thursday by videoconference) to decide on a new adjustment to their total volume of production of black gold. However, analysts expect the status quo despite numerous calls for action. Fed's Recession Denial? The US economy is slowing down, but not to the point of falling into recession, the president of the New York branch of the Federal Reserve (Fed) said to CNBC Tuesday. The mighty Federal Reserve has raised rates three times since March. The latter are now in a range between 1.50% and 1.75% after remaining close to zero during the COVID-19 pandemic. Fundamental Analysis On Tuesday, the American Petroleum Institute (API) released their weekly oil stock figures. U.S. API Weekly Crude Oil Stock The weekly commercial crude oil reserves in the United States dropped to -3.8M barrels while the forecasted figure was just about -0.110M, according to figures released on Tuesday by the US American Petroleum Institute (API). US crude inventories have thus decreased by over 3.799 million barrels, which firmly shows accelerating demand and could be considered a strong bullish factor for crude oil prices. This figure would indeed signal a rise in fuel consumption. As a result, demand is now holding up well as the peak of the summer driving season approaches with many trips. (Source: Investing.com) WTI Crude Oil (CLQ22) Futures (August contract, daily chart) RBOB Gasoline (RBQ22) Futures (August contract, daily chart) Brent Crude Oil (BRNQ22) Futures (August contract, daily chart) – here it is represented by its Contract for Difference (CFD) UKOIL That’s all, folks! Happy trading! Like what you’ve read? Subscribe for our daily newsletter today, and you'll get 7 days of FREE access to our premium daily Oil Trading Alerts as well as our other Alerts. Sign up for the free newsletter today! Thank you. Sebastien Bischeri Oil & Gas Trading Strategist The information above represents analyses and opinions of Sebastien Bischeri, & Sunshine Profits' associates only. As such, it may prove wrong and be subject to change without notice. At the time of writing, we base our opinions and analyses on facts and data sourced from respective essays and their authors. Although formed on top of careful research and reputably accurate sources, Sebastien Bischeri and his associates cannot guarantee the reported data's accuracy and thoroughness. The opinions published above neither recommend nor offer any securities transaction. Mr. Bischeri is not a Registered Securities Advisor. By reading Sebastien Bischeri’s reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Sebastien Bischeri, Sunshine Profits' employees, affiliates as well as their family members may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice. Updated on Jun 29, 2022, 10:38 am (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: valuewalk20 hr. 51 min. ago

Nu Skin (NUS) Down More Than 10% in 6 Months: Here"s Why

Nu Skin (NUS) has been grappling with global uncertainties like rising pandemic-related factors, unfavorable currency rates and geopolitical conflicts. Nu Skin Enterprises, Inc. NUS has been bearing the brunt of global uncertainties like rising pandemic-related factors, unfavorable currency rates and geopolitical conflicts. The developer and distributor of beauty and wellness products lowered its guidance for 2022 when it reported first-quarter results. Also, its view for the second quarter suggests a year-over-year decline in the top and bottom lines.Shares of this Zacks Rank #4 (Sell) company have dropped 10.7% in the past six months compared with the industry’s decline of 31.5%. Let’s take a closer look at the factors marring Nu Skin’s performance.Image Source: Zacks Investment ResearchNu Skin Not in Great ShapeNu Skin delivered first-quarter 2022 results, wherein the top and the bottom line declined year over year. Revenues of $604.9 million fell 11% year over year on a reported basis. Revenues included a negative impact of 3% from foreign currency fluctuations. On a constant-currency (cc) basis, revenues declined 8%. NUS reported quarterly earnings of 76 cents per share, down 16% from the 91 cents per share reported in the year-ago quarter. Sales leaders were down 22% year over year to 52,462. Nu Skin’s customer base dropped 13% to 1,321,451. The company’s paid affiliates were down 14% to 251,436.Nu Skin highlighted that the quarterly performance was hurt by pandemic-led lockdowns and other factors across Mainland China. The situation in Ukraine hampered the company’s performance in the EMEA. The company suspended its operations in Russia and Ukraine. In the Americas, strength in U.S. operations was countered by macroeconomic headwinds in Latin America.In the first quarter, the gross profit of $443.4 million declined from the $506.5 million reported in the year-ago period. The gross margin contracted year over year from 74.8% to 73.3%. The downside can be attributed to a product mix and promotions. Nu Skin business’ gross margin contracted to 76.5% from 77.8%. The operating income of $52.1 million declined from $62.9 million in the year-ago quarter. The operating margin was 8.6%, down from the 9.3% reported in the year-ago quarter.Nu Skin’s strong international presence exposes it to the risk of volatile currency movements. Any adverse currency fluctuation is likely to weigh on the company’s operating performance. In the first quarter of 2022, revenues included a negative impact of 3% from foreign currency fluctuations. NUS envisions an unfavorable currency impact of 3-4% on revenues in 2022.Nu Skin Enterprises, Inc. Price, Consensus and EPS Surprise Nu Skin Enterprises, Inc. price-consensus-eps-surprise-chart | Nu Skin Enterprises, Inc. QuoteUnimpressive ViewManagement revised its 2022 revenue and earnings guidance downward considering global uncertainties like rising pandemic-related factors, unfavorable currency rates and geopolitical conflicts.  The company now anticipates 2022 revenues in the range of $2.51-$2.62 billion, calling for a 3-7% decline from the year-ago period’s reported figure. The company had earlier anticipated revenues in the range of $2.66-$2.77 billion, calling for a 1% decline to 3% growth from the year-ago period’s reported figure. Management now expects 2022 earnings per share (EPS) in the range of $3.60-$3.90, indicating an increase of 26-36% on a reported basis. The metric is expected to fall 6-13% on an adjusted basis. Earlier, management expected the EPS in the range of $4.05-$4.45.For the second quarter of 2022, the company projects revenues in the band of $590-$620 million, which suggests a 12-16% decline from the year-ago quarter’s level. The company’s quarterly EPS is anticipated between 75 and 85 cents, indicating a 26-35% slump from the year-ago quarter’s levels.While a focus on product launches, investments in the digital platform and the empowerment of sales leaders have been upsides, we cannot ignore the abovementioned factors for the near term. The Zacks Consensus Estimate for the 2022 EPS has declined from $4.29 per share to $3.80 over the past 60 days.3 Solid Staple StocksSome better-ranked stocks are Sysco Corporation SYY, Pilgrim’s Pride PPC and Campbell Soup CPB.Sysco, which engages in marketing and distributing various food and related products, sports a Zacks Rank #1 (Strong Buy). Sysco has a trailing four-quarter earnings surprise of 9.1%, on average. You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for SYY’s current financial-year sales and EPS suggests growth of 32.6% and 124.3%, respectively, from the year-ago reported number.Pilgrim’s Pride, which produces, processes, markets and distributes fresh, frozen and value-added chicken and pork products, carries a Zacks Rank #2 (Buy). Pilgrim’s Pride has a trailing four-quarter earnings surprise of 31.4%, on average.The Zacks Consensus Estimate for PPC’s current financial-year EPS suggests growth of almost 43% from the year-ago reported number.Campbell Soup, which manufactures and markets food and beverage products, currently carries a Zacks Rank #2. Campbell Soup has a trailing four-quarter earnings surprise of 10.8%, on average.The Zacks Consensus Estimate for CPB’s current financial-year sales suggests growth of 0.5% from the year-ago reported figure. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Campbell Soup Company (CPB): Free Stock Analysis Report Sysco Corporation (SYY): Free Stock Analysis Report Pilgrim's Pride Corporation (PPC): Free Stock Analysis Report Nu Skin Enterprises, Inc. (NUS): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacks22 hr. 19 min. ago

Qualcomm expands Wi-Fi 7 front-end modules beyond smartphones

Qualcomm Technologies has announced new RFFE modules designed for Bluetooth, Wi-Fi 6E, and the next-generation standard, Wi-Fi 7. The modules are designed for a wide array of device segments beyond smartphones, including automotive, XR, PCs, wearables, mobile broadband and IoT......»»

Category: topSource: digitimesJun 29th, 2022