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Interesting articles relating to QMG or Sectors/Products we’re interested in.

Regal Beloit (RBS US) – beats Q1 expectations, QMG data remains POSITIVE

Company: Regal Beloit (RBC US) QMG product view: POSITIVE (US29.11 – Producers of engines & turbines) Event: Q1 15 Results Highlights: o    Revenue: $912m (+14% yoy) o    Operating income: $89m (+19% yoy) o    Operating margin: +40bps to 9.8% o    Company guidance: EPS Adjusted: $5.45-$5.75 (+26% to +33% yoy), Sales guidance unchanged: FY2015, $3.78b (+16%)   QMGI comment: A recent addition to our… Read more →

US GDP disappoints, what does our data say?

US GDP came in below expectations registering just +0.2% Q1 growth – well below consensus expectations (+1.0%) and the +2.2% Q4 14 level. The Fed refers to a number of ‘transitory factors’ -the disruption at west coast ports (which caused -70% decline in cargo activity through Feb), very poor Jan weather (the ‘deep freeze’ which meant that consumers couldn’t get… Read more →

Cummins (CMI US) Q1 earnings in line with QMG view

Company: Cummins (CMI US) QMG product view: US29.11 – Producers of engines & turbines excl. aircraft & vehicle engines and US34.3 – Producers of parts for motor vehicles & their engines Event: Q1 15 Results Highlights: Revenue: $4.7bn: +7% yoy – North America revenues +17% however International sales -6% EBIT: Increase to $562m (11.9% of sales) from $528m (12.0% of… Read more →

Praxair (PX US) signs for continued optimism

Company: Praxair (PX US) QMG product:  US24.11 – Manufacturers of Industrial Event: Q1 FY15 Results Highlights: o          Sales: $2.8bn (-9% yoy) vs QMG: +11.92% o          Operating margins: 22.6% vs QMG: 11.94% o          EBITDA: 33.0% o          Results challenged by negative impact thanks to foreign exchange effects as US dollar strengthened against most foreign currencies. QMGI comment: Whilst the most recent earnings… Read more →

Nippon Steel & Sumitomo Metal Corp (5401 JP) in line with QMG view

Company: Nippon Steel & Sumitomo Metal (5401 JP) QMG product view: JA27.1 – Producers of basic iron & steel Event: FY 15 Results Highlights: o    Revenue: JPY5.61tn: in line with consensus estimates (Toyo Keizai) and +1.7% yoy o    Operating profit: JPY349.5bn: +5.9% on consensus estimates (Toyo Keizai) and +17.1% yoy o    Operating margin: +80bps to 6.2% (and +40bps on consensus estimates) o   … Read more →