All Reports

Earlier this week, we virtually sat in on the keynote presentation at NetApp’s (NTAP; $68.04; E/W) Insight 2022 user conference, led by CEO George Kurian, which highlighted NTAP’s vision for the “evolved cloud” that aims…

This morning, Jabil (JBL; $65.46; O/P) announced that its Board appointed Kenny Wilson as the company’s next CEO, taking over from current CEO Mark Mondello, who will remain on the Board of Directors as Executive…

We raise 2022E EPS for Aptiv (APTV; $91.62; E/W) from $3.05 to $3.50 while sticking with 2023E EPS at $4.80 after global vehicle production trends in Q3 pulled forward some of its full year shipment…

DoorDash (DASH; $47.61; E/W) produced some better than expected Gross Order Value (GOV), revenues, and EBITDA in Q3, including robust local currency growth from recently acquired Wolt Enterprises in Europe, which continues to go against…

Yesterday, The Wall Street Journal reported that Lyft (LYFT; $13.72; O/P) is reducing its headcount by 13%, which was then confirmed by the company in an 8-K filing. By comparison, the company most recently disclosed…

CommScope (COMM; $9.53; O/P) shares plunged 26% today despite posting better than expected Q3 EBITDA while reiterating all prior EBITDA targets for its “core” business, ex-Home Networks (16% of Q3 sales), which management still plans…

DoorDash (DASH; $47.61; E/W) reported Q3 sales of $1,701mm (+6% QoQ and +33% YoY), which was ahead of our $1,650mm and the Street’s $1,625mm on adjusted EBITDA of $87mm. Gross order value (GOV) was $13,534mm…

Aptiv (APTV; $88.00; E/W) reported adjusted Q3 EPS of $1.28, which was well ahead of the Street’s $0.98 and our much more conservative $0.82 on a healthy sales beat ($4,614mm vs. the Street’s $4,331mm and…

CommScope (COMM; $12.87; O/P) reported Q3 non-GAAP EPS of $0.50, which beat the Street’s $0.45 and was in line with our above consensus $0.50. Sales were $2,381mm, which compared to the Street’s $2,296mm and our…

Proterra (PTRA; $5.87; O/P) produced Q3 sales of $96mm (+55% YoY), well above our $80mm and the Street’s $81mm, while reiterating full 2022E sales targets of $300-325mm (+24-34% YoY). At the same time, EBITDA losses…

We raise 2022/2023E EPS for Belden (BDC; $71.02; E/W) from $6.00/$6.40 to $6.35/$6.60 after its Q3 results handily beat expectations. Specifically, Q3 EPS of $1.77 was ahead of our $1.55 and the Street’s $1.56 driven…

We reduce F2023E (Sept) EPS for TE Connectivity (TEL; $113.52; E/W) from $7.60 to $6.80 (vs. $7.33 in F2022) after its basically as expected FQ4 results, albeit with puts and takes, came with FQ1E (Dec)…

Belden (BDC; $70.34; E/W) reported Q3 non-GAAP EPS of $1.77, which was well ahead of our $1.55 and the Street’s $1.56 on a solid sales beat ($671mm vs. our $638mm and the Street’s $635mm). Recall,…

TE Connectivity (TEL; $123.44; E/W) reported FQ4 (Sep) non-GAAP EPS of $1.88, which was slightly ahead of our $1.85 and the Street’s $1.87 on somewhat better sales ($4,359mm vs. our $4,203mm and consensus of $4,213mm)….

We reiterate our Outperform on the shares of Uber Technologies (UBER; $29.87) after another quarter of robust organic top line growth accompanied by an accelerated trajectory of EBITDA improvements, led by significant Delivery profit upside…