February 8, 2024
Belden (BDC; $74.50; E/W) reported Q4 non-GAAP EPS of $1.46, which was handily ahead of our consensus matching $1.13 on some better than expected sales ($551mm vs. our $527mm and the Street’s $522mm). We estimate…
February 7, 2024
This morning, Maplebear, doing business as Instacart (CART; $24.46; O/P) announced a new partnership with Amazon’s (AMZN; $170.53; NR) Whole Foods Market Canada to offer on-demand grocery delivery to consumers in Canada. Our checks suggest…
February 7, 2024
Uber Technologies (UBER; $70.65; O/P) posted Q4 results and provided Q1E guidance, which once again highlighted robust core growth, led by Mobility, supplemented by a range of new product initiatives and geographic expansion we have…
February 7, 2024
Uber Technologies (UBER; $70.47; O/P) posted Q4 adjusted EBITDA of $1,283mm (3.4% of gross bookings), which beat our forecast of $1,231mm (3.3% of gross bookings) and the Street’s $1,225mm (3.3% of gross bookings). Revenue of…
February 6, 2024
We are reducing our rating from Outperform to Equal-Weight on the shares of Sensata (ST; $33.06; E/W) after its latest in a series of disappointing financial updates. Admittedly, management’s latest Q4 EPS miss, and lower…
February 6, 2024
Earlier today, Lyft (LYFT; $13.32; E/W) announced in a blog post an early-2024 driver product release, which includes a range of driver friendly initiatives that are aimed at improving driver earnings while also adding steps…
February 6, 2024
This morning, Hyzon Motors (HYZN; $0.71) announced it signed a joint development agreement (JDA) with New Way Trucks to develop a hydrogen fuel cell refuse vehicle for the North American market. We note New Way…
February 6, 2024
Sensata (ST; $36.12; O/P) reported Q4 adjusted EPS of $0.82, which was below our $0.85 and the Street’s $0.86 on better-than-expected sales ($993mm vs. our $976mm and the Street’s $978mm), basically as expected operating profits…
February 5, 2024
We assume Maplebear, doing business as Instacart (CART; $23.94; O/P), can post Q4 results and guidance that are at least in line with Street expectations when the company reports next Tuesday (2/13 after market) given…
February 5, 2024
Lyft’s (LYFT; $12.70; E/W) Q4 print on 2/13 (after market) came with extra importance given management’s long-standing promise, since Erin Brewer joined as CFO on 5/16/23 (“And Now a New CFO”; 5/17/23), to offer up…
February 2, 2024
We stick with our Outperform on the shares of Uber Technologies (UBER; $66.73) ahead of next Wednesday’s Q4 print (2/7 before market) and its virtual Investor Update on 2/14 (also before market). Admittedly, the “bar…
February 1, 2024
Earlier today, Polestar (PSNY; $1.83; E/W) and Volvo Cars (VOLCAR.SE; KR34.54; NR) both publicly disclosed that Volvo intends to distribute its shares in Polestar to shareholders with Geely Sweden Holding being the primary recipient. Recall,…
February 1, 2024
Nextracker (NXT; $56.50; E/W) shares surged 25% today after the company produced a third consecutive quarter “beat and raise” since going public, albeit of an especially large magnitude. Specifically, FQ3 (Dec) EPS of $0.96 handily…
February 1, 2024
Benchmark Electronics’ (BHE; $28.28; O/P) Q4 results and Q1E guidance lived up to our expectations, further demonstrating potential for operating margins to move even higher in coming years on solid free cash flows (FCF). To…
February 1, 2024
Flex (FLEX; $23.74; O/P) delivered FQ3 (Dec) results with an FQ4E (Mar) guidance that comfortably lived up to expectations, including its “core” remaining business after the recently completed spin of Nextracker (NXT; $45.27; E/W). Specifically,…