Company announcement no. 28 / 2025Schindellegi, Switzerland – 19 May 2025 Trifork Group: Weekly report on share buyback On 28 February 2025, Trifork initiated a share buyback program in accordance with Regulation No. 596/2014 of the European Parliament and Council of 16 April 2014 (MAR) and Commission Delegated Regulation (EU) 2016/1052, (Safe Harbour regulation). The share buyback program runs from 4 March 2025 up to and including no later than 30 June 2025. For details, please see company announcement no. ...

Core Viewpoint - Chevron is positioned as an excellent dividend stock for passive income investors, despite a recent decline in stock price and low oil prices [1][3][13] Financial Performance - Chevron's stock has fallen approximately 16% from its 52-week high, which occurred less than two months ago [1] - Brent crude oil prices are at multi-year lows, impacting Chevron's margins and leading to lower revenue and earnings growth [3] - The company has become more efficient, with expected incremental free cash flow (FCF) of $9 billion by 2026 at a Brent price of $60 per barrel [5] Operational Efficiency - Chevron has the lowest upstream breakeven in its peer group, around the low $30-per-barrel Brent range, outperforming competitors like ExxonMobil and Shell [6] - The company anticipates a 50% increase in Gulf Coast production by 2026, driven by the expansion of its deepwater Anchor project [7] Shareholder Returns - Chevron has consistently executed stock buybacks, with $11.26 billion in 2022, $14.94 billion in 2023, and $15.23 billion planned for 2024 [8] - The company plans to spend $2.5 billion to $3 billion on buybacks in the second quarter of 2024, while maintaining a strong cash return to shareholders [9] - Chevron's quarterly dividend expenditure is around $3 billion, with a 38-year history of increasing dividends, resulting in a yield of 4.8% [10][11] Financial Health - The company's debt ratio stands at 14.4%, which is below its target range of 20% to 25%, indicating a strong balance sheet [12] Investment Outlook - Chevron is viewed as a reliable dividend stock with a strong track record, capable of generating high FCF and supporting future buybacks and dividend increases [13][14]

Group 1: Company Overview - O'Reilly Automotive is primarily a retailer of auto parts, serving both do-it-yourself and professional markets, with approximately 6,400 stores across North America [2] Group 2: Growth Strategies - The company plans to open around 200 new locations in 2025, and same-store sales increased by 3.6% in the first quarter of 2025, contributing to reasonable top-line growth [4] Group 3: Financial Performance - In the first quarter of 2025, O'Reilly's sales increased by 4%, while earnings rose only about 2%, indicating a disparity between sales growth and earnings growth [5][6] - Despite a 4% increase in sales, the company's net income fell from $547 million in Q1 2024 to $538 million in Q1 2025 due to rising selling, general, and administrative costs [8] - Earnings per share increased from $9.20 in Q1 2024 to $9.35 in Q1 2025, attributed to a 3% reduction in share count, despite lower net income [9][10] Group 4: Operational Challenges - The increase in operating costs has been a significant factor affecting profitability, with the earnings advance year over year being around 1.6%, suggesting that stock buybacks only partially mitigated the impact of rising costs [11]

Company Overview - GoDaddy has evolved from a domain registration business to a comprehensive service provider for micro businesses, offering IT services that enhance efficiency and competitiveness [22][23]. - The company has reported a 17% sales growth in its applications and commerce segment, which now constitutes about one-third of its revenue [22]. Capital Allocation Strategy - GoDaddy has executed a stock repurchase program, buying back $4 billion worth of stock since 2022, which has reduced its fully diluted share count by 25% [27]. - The company has a new $3 billion stock repurchase authorization plan, reflecting its commitment to returning value to shareholders through buybacks rather than dividends [27]. Financial Performance - Since its IPO, GoDaddy has outperformed the S&P 500 with a compound annual growth rate (CAGR) of 25%, compared to the S&P 500's 12% and Nasdaq's 16% [28]. - The company has expanded its normalized EBITDA margins by 900 basis points over five years while maintaining a CAGR of 20% in free cash flow per share [27]. Market Position and Growth - GoDaddy's business model focuses on maximizing free cash flow per share, which is considered its "North Star" [28][29]. - The company has a strong customer retention rate, with 90% of its revenue coming from existing customers, indicating a durable and predictable business model [29]. Competitive Differentiation - GoDaddy differentiates itself from competitors like Shopify by offering a seamless experience that combines multiple functionalities into one application, making it easier for micro businesses to manage their operations [26]. - The company emphasizes cost-effectiveness and efficiency, allowing customers to set up their businesses quickly and manage them with minimal complexity [26].

Core Viewpoint - Dassault Aviation has received authorization for a share buyback program aimed at enhancing shareholder value and supporting employee incentives, with a maximum buyback limit of 10% of its share capital [5][9][10]. Group 1: Company Overview - Dassault Aviation is a significant player in the aeronautics industry, capable of designing, producing, and supporting fighter aircraft, business jets, and other aviation instruments [3]. - In 2024, the company reported adjusted net sales of EUR 6.2 billion and an adjusted net income of EUR 1.056 billion [3]. Group 2: Share Buyback Authorization - The share buyback authorization was decided during the Combined General Meeting on May 16, 2025, and replaces the unused portion of the previous year's authorization [5]. - The company currently holds 175,162 of its own shares, representing 0.22% of its total share capital of 78,397,034 shares [7]. - The maximum number of shares that can be repurchased is 7,839,703, which is 10% of the total share capital [10][11]. Group 3: Purposes and Conditions of Buyback - The buyback aims to cancel shares to increase return on equity and earnings per share, allocate shares to employees, and stimulate market activity [9][16]. - The maximum purchase price for the shares is set at EUR 270 per share, with a total potential investment of EUR 2.116 billion based on the maximum number of shares [12][13]. - The buyback authorization is valid for 18 months, expiring on November 16, 2026 [15].

Advanced Micro Devices Inc. AMD is riding its strongest rally in two years – and now, it's firing on all cylinders with a fresh catalyst: a $6 billion stock buyback plan. The announcement, coupled with a string of recent wins, has sent AMD shares soaring over 21% in the past month.AMD Stock Technical Breakout In ProgressChart created using Benzinga ProAMD has broken past resistance at around $115 and is charging toward its 200-day simple moving average (SMA) of $127.18. With the stock trading above its five ...

Navigator Holdings (NVGS) Q1 2025 Earnings Call May 15, 2025 10:00 AM ET Company Participants Randy Giveans - Executive Vice President, Investor Relations and Business DevelopmentMads Zacho - Chief Executive OfficerGary Chapman - Chief Financial OfficerOeyvind Lindeman - Chief Commercial OfficerOmar Nokta - Managing DirectorCliment Molins - Head of Shipping Research Conference Call Participants None - Analyst Randy Giveans Conference Call for the First Quarter twenty twenty five Financial Results. On today' ...

Core Viewpoint - Analysts believe Unilever's stock price has the potential to reach new highs by 2025, supported by improved sentiment and a rising price target [1][2]. Group 1: Analyst Sentiment and Price Target - The price target for Unilever is projected to increase by 28% over the next 12 months, reaching an all-time high [2]. - Analysts have upgraded their sentiment on Unilever from Reduce to Hold, indicating potential for the stock to exceed $70 in the long term [2]. Group 2: Company Performance and Market Position - Unilever holds a market-leading position in the Consumer Staples sector, which is less cyclical and offers stable revenue and cash flow [4]. - The company has a diverse portfolio of globally recognized brands, contributing to steady year-over-year growth and cash flow generation [5]. Group 3: Financial Health and Capital Returns - Unilever's dividend yield is approximately 3.4%, with a reliable payout ratio of 60% of earnings, and a trend of increasing payouts annually [6]. - The company is on track to complete a $2 billion share buyback authorization, enhancing its capital return strategy [7]. Group 4: Recent Financial Performance - In Q1, Unilever reported organic growth of 3.5% and solid margins, with positive contributions from all five operating segments [8][9]. - The company anticipates organic business growth of 3% to 5%, potentially exceeding guidance due to favorable macroeconomic conditions [9]. Group 5: Strategic Moves - Unilever is progressing with the divestiture of its Ice Cream segment, which could raise up to $8 billion, strengthening its balance sheet [10].

Core Insights - Western Digital's stock has increased by over 5% in a single trading day and nearly 40% over the past month, driven by positive developments in the company's financial performance and strategic initiatives [1] Group 1: Share Buyback Program - Western Digital announced a $2 billion share buyback program, reflecting strong confidence in its long-term prospects and reinforcing its shareholder-oriented capital allocation strategy [2] Group 2: Q3 Earnings Performance - In Q3 FY25, Western Digital reported $2.3 billion in revenue, a 31% year-over-year growth despite a 5% quarterly decrease. Non-GAAP EPS rose by 15% to $1.36, with gross margin increasing to 40.1% [3] - The Cloud division generated $2.0 billion, accounting for 87% of total revenue, and experienced a 38% year-over-year growth, driven by increased data demands from hyperscale cloud providers and AI adoption [3] Group 3: Positive Guidance - For the fiscal fourth quarter ending June 27, 2025, Western Digital provided a positive revenue forecast of $2.45 billion ± $150 million and non-GAAP EPS of $1.45 ± $0.20, both exceeding analyst expectations [4] - The company expects to maintain gross margins between 40.0% and 41.0%, with non-GAAP operating expenses managed between $330 million and $340 million, positioning itself favorably to benefit from the growing demand for high-capacity storage due to AI adoption [4] Group 4: Stock Volatility - Over the past four years, Western Digital's stock has shown significant volatility compared to the S&P 500, with annual returns of 18% in 2021, -52% in 2022, 66% in 2023, and 14% in 2024 [5] Group 5: Valuation Insights - Current assessment places Western Digital's stock value around $49 per share, aligning closely with its market value, indicating a balanced valuation perspective [7]

Core Viewpoint - Allegion plc is experiencing strong momentum across its segments, driven by stable demand in various end markets and strategic acquisitions, which are enhancing its product portfolio and market position [1][2][3]. Group 1: Segment Performance - The Allegion Americas segment is benefiting from stable demand in education, healthcare, government, hospitality, and retail markets, along with acquisitions like Next Door Company and Trimco [1][2]. - The Allegion International segment is seeing increased demand for electronic security products, supported by heightened awareness of security and safety [1]. Group 2: Acquisitions and Portfolio Expansion - Allegion acquired Trimco Hardware in April 2025, enhancing its specialty solutions and innovation capabilities within the Allegion Americas segment [2]. - The acquisition of Lemaar Pty Ltd in March 2025 bolstered Allegion's security and accessibility portfolio in Australia, integrating it into the Allegion International segment [2]. - The acquisition of Next Door Company in February 2025 expanded Allegion's doors and frames portfolio, while Krieger Specialty Products and Unicel Architectural Corp were also acquired to strengthen its non-residential business [3]. Group 3: Financial Performance and Shareholder Returns - In Q1 2025, Allegion paid dividends totaling $43.6 million, a 3.6% increase year-over-year, and repurchased shares worth $40 million, with an additional $200 million remaining under its buyback program [4]. - Allegion announced a 6% increase in its quarterly dividend rate, now at 51 cents per share [4]. Group 4: Market Performance - Year-to-date, Allegion's shares have gained 9.3%, outperforming the industry growth of 5.6% [5]. Group 5: Cost Challenges - Allegion is facing rising costs, with a 3.4% year-over-year increase in the cost of sales and a 3.1% rise in selling and administrative expenses in Q1 2025, attributed to investments in new products and growth initiatives [7][8]. Group 6: International Expansion Risks - Allegion plans to expand into new overseas markets but faces risks from currency fluctuations, particularly the impact of a strengthening U.S. dollar, which affected margins by 0.8% in Q1 [9].