GFPT reported strong 1Q24 core earnings of Bt441m, up 86% yoy and 9% qoq, higher than our and market forecasts by 6-9%. The key drivers were from higher export volume, gross margin and share of profit. For 2Q24, we expect to see continuous yoy earnings growth on the back of better gross margin and share of profit. Maintain BUY. Target price: Bt14.40.
BCP reported a 1Q24 net profit of Bt2.4b (-11% yoy) from a net loss of Bt1.0b in 4Q23. Stripping out inventory impact, BCP’s core profit will jump 17% yoy and 90% qoq to Bt3.5b, 22% ahead of our estimate. The 1Q24 results account for 27% of our full-year forecast. BCP is a laggard play among Thai refinery stocks with a strong earnings outlook in 2024 and a 5.1% dividend yield. Maintain BUY. Target price: Bt52.00.
KEY HIGHLIGHTS Results Bangchak Corporation (BCP TB/BUY/Bt41.25/Target: Bt52.00) 1Q24: Results beat expectations; attractive long-term growth outlook. GFPT Plc. (GFPT TB/BUY/Bt12.60/Target: Bt14.40) 1Q24: Strong yoy earnings growth. LPN Development (LPN TB/SELL/Bt3.48/Target: Bt2.40) 1Q24: Results beat expectations but remain below the desired level. Major Cineplex (MAJOR TB/BUY/Bt14.80/Target: Bt18.00) ...
Shimmick Corporation Announces First Quarter 2024 Earnings Release Date and Conference Call IRVINE, Calif., May 09, 2024 (GLOBE NEWSWIRE) -- Shimmick Corporation (“Shimmick”) (Nasdaq: SHIM), a leading water infrastructure company, today announced that the company will release its first quarter 2024 results after the market close on Monday, May 13, 2024, to be followed by a conference call at 5:00 p.m. (Eastern Time) on the same day. The conference call can be accessed live over the phone by dialing (877)-869-3847 (domestic) or (201)-689-8261 (international). A telephonic replay will be a...
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Moody's Ratings (Moody's) affirmed CE Intermediate I, LLC's (CEH, or CE Intermediate) B3 Corporate Family Rating (CFR), B3-PD Probability of Default Rating (PDR), and B3 ratings on the company's senior secured first lien credit facility. The outlook is stable. The ratings affirmation follows CEH's...
Moody's Ratings (Moody's) affirmed Kinetik Holdings LP's (Kinetik) Corporate Family Rating (CFR) at Ba1, Probability of Default Rating (PDR) at Ba1-PD and backed senior unsecured bonds ratings at Ba1. The Speculative Grade Liquidity (SGL) rating was downgraded to SGL-2 from SGL-1. The outlook remain...
Kinder Morgan (KMI) is the biggest natural gas pipeline company in the U.S. Its dominant position has allowed it to have stable profitability the last several years even when natural gas prices and volumes were low. Now that the natural gas market is improving thanks to better compression technology and higher demand from Europe, Kinder Morgan can start making more money on its contracts. Uniform Accounting highlights that the market is not pricing in a profitability inflection for the company,...
Runway Growth Finance Corp. Announces Pricing of Secondary Offering of Common Stock by Selling Stockholder MENLO PARK, Calif., May 09, 2024 (GLOBE NEWSWIRE) -- Runway Growth Finance Corp. (Nasdaq: RWAY) (the “Company” or Runway Growth”), a specialty finance company focused on providing senior secured loans to high growth-potential companies in technology, life sciences, healthcare information and services, business services, select consumer services and products and other high-growth industries, today announced the pricing of the previously announced underwritten secondary offering of 3,7...
BOGOTA, Colombia--(BUSINESS WIRE)-- GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator, today announces the execution of an offtake and prepayment agreement with Vitol, one of the world’s leading energy and commodity companies. The offtake agreement provides for GeoPark to sell and deliver to Vitol a minimum of 20,000 bopd of production from the Llanos 34 Block (GeoPark operated, 45% WI). The agreement improves GeoPark’s price realizations by 15 cents (USD) per barrel vs the current agreement, or by ...
Interfor Reports Voting Results from Annual General Meeting BURNABY, British Columbia, May 09, 2024 (GLOBE NEWSWIRE) -- INTERFOR CORPORATION (“Interfor” or the “Company”) (TSX: IFP) announced the voting results for the election of its Board of Directors, which took place at the Company’s Annual General Meeting held today in Vancouver, British Columbia. A total of 37,724,030 common shares were voted by proxy at the meeting representing 73.33% of the votes attached to all outstanding shares. The nominees listed in the management information circular dated March 13, 2024, were elected as di...
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