Product innovations and superior service fuel Makita’s growth, but a European recovery is priced in.
Narrow-moat Makita’s third-quarter results were ahead of our full-year forecast, with sales and operating margin expanding 17% and 4 percentage points year over year, respectively, driven by the increase of housing investment in Europe, Japan, and North America. The firm raised its full-year operating income guidance by 8%, which is 5% higher than our previous forecast. Despite this, assuming flat sequential sales growth in the following quarter, the number still looks conservative. We raise our...Makita is mainly engaged in the manufacture and sale of power tools for professional users worldwide. Co.'s principal products include cordress tools, drills, screw drivers, shear wrench, electric breakers, combination hammers, rotary hammers, demolition hammers, cutters, wall chasers, angle grinders, die grinders, circular saws, plater joiners, trimmers, power planers, routers, narrow crown staplers, pneumatic pin nailers, petrol blowers, petrol string trimmers, vacuum cleaners, robotic cleaners, cordless vacuum pumps, MAKPA cool boxes, cordless job site speakes, as well as a variety of parts and accessories for its products and to perform repair work.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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