7 Stocks Set to Explode in August 2024

Group 1: Specialty Chemicals - Perimeter Solutions (PRM) has shown significant growth in specialty chemicals, particularly in fire safety products, with Q2 2024 net sales increasing by 67% to $127.3 million from $76.1 million year-over-year [4] - Fire Safety sales specifically rose by 85%, from $53.1 million to $98.5 million, attributed to high market demand during an active fire season [4][5] - The company has a historical annual growth rate of 10% in Fire Safety volume, with expectations for continued growth due to new opportunities in prevention and protection [5][6] Group 2: Diversified Support Services - Civeo (CVEO) operates in diversified support services, with its Australian segment reporting a 32% revenue increase to $108.6 million in Q2 2024 from $82.5 million in Q2 2023 [7][8] - The growth was driven by a 6% increase in the number of billed rooms in Australian villages, rising from approximately 588,000 to 625,000, alongside a daily room rate increase from $75 to $78 [7][8] - Civeo aims to reach AUD 500 million in revenues by 2027, supported by effective pricing strategies and market demand [8][9] Group 3: Home Furnishings - Ethan Allen Interiors (ETD) reported fiscal 2024 net sales of $646.2 million, with Q4 sales reaching $168.6 million, the highest of the year [10] - Despite a decrease in net sales due to lower unit volumes, the company maintained solid gross margins and effectively managed expenses [10][12] - The company reduced marketing expenditures to 2.8% of sales, down from 4% five years ago, enhancing customer engagement through innovative digital marketing [12] Group 4: Consumer Finance - Regional Management (RM) reported a net income of $8.4 million in Q2 2024, a 37% increase from the previous year, with a loan portfolio growth of $29 million, reaching $1.8 billion [13][14] - The company achieved an 80 basis point increase in total revenue yield year-over-year, driven by higher pricing and improved credit performance [14][15] - LendingClub (LC) saw a 10% sequential rise in loan originations in Q2 2024, reaching $1.8 billion, reflecting successful product innovations and strong investor demand [22][23] Group 5: Marine Transportation - Global Ship Lease (GSL) secured over $400 million in contracted revenue in the first half of 2024, with over 85% locked in during Q2 [19][20] - The company increased its quarterly dividend by 20%, reflecting strong cash flow and confidence in market conditions [20][21] - GSL's forward contract cover totals $1.8 billion, ensuring a stable revenue stream and capitalizing on favorable market conditions [19][20] Group 6: Air Pollution Control - Fuel Tech (FTEK) specializes in air pollution control, reporting cash and investments of over $32 million with no long-term debt, providing financial flexibility for growth [16][18] - The company benefits from favorable regulatory outcomes, particularly the U.S. EPA's Cross-State Air Pollution Regulation, which could boost growth in 2024 [17][18] - Fuel Tech's consolidated gross margins increased to 40.9% in Q1 2024, up from 38.5% in the same period in 2023, enhancing profitability [18]