Breakeven

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TIP: Real Yields And Breakevens Are In A Stalemate
Seeking Alpha· 2025-07-11 15:20
Real yields are in focus here as we dial in on iShares TIPS Bond ETF (NYSEARCA: TIP ) . Many investors might look at TIP ETF and say, "I anticipate inflation to go higher, so why not invest?" While we understandPearl Gray is a proprietary investment fund and independent market research firm specialising in systematic analysis.Our latest work on SA primarily covers: Bonds, Preferreds, REITs, with an occasional drift.Primary Sectors: Financials and Real Estate.Mission: To discover actionable total return idea ...
Can Disciplined Cost Management Fuel ExxonMobil's Future?
ZACKS· 2025-07-02 15:10
Key Takeaways Exxon Mobil has cut $12.7B in structural costs since 2019, boosting efficiency and earnings stability. XOM aims to slash breakeven to $35/barrel by 2027 and $30/barrel by 2030 while maintaining investments. Despite a 1% stock dip, XOM trades at a 6.77X EV/EBITDA, above the industry average of 4.09X.Exxon Mobil Corporation (XOM) emphasizes making its business more efficient and resilient. This is clear from its last earnings call, where it stated that since 2019, it has reduced $12.7 billion ...
Is ExxonMobil's Plan for $35 Oil Breakeven Going to be a Game Changer?
ZACKS· 2025-06-04 16:31
Core Insights - Exxon Mobil Corporation (XOM) aims to reduce its breakeven costs to $35 per barrel by 2027 and $30 per barrel by 2030, which could significantly enhance profitability, especially in its upstream business [1][6] - Achieving these lower breakeven costs would allow ExxonMobil to remain profitable even during significant drops in crude oil prices, as demonstrated during the 2020 oil price collapse [2][6] - The current share price of ExxonMobil has decreased by 4.4% over the past year, which is slightly better than the 6.3% decline of the broader industry [5][6] Upstream Operations - Companies like Chevron Corporation (CVX) and EOG Resources Inc. (EOG) also benefit from low breakeven costs, particularly in the Permian basin, where breakeven prices are well below $40 per barrel [3] - Chevron has focused 80% of its development activities in the Delaware basin and plans to increase this to 85%, emphasizing low breakeven-cost operations [4] - EOG has indicated that it can manage its planned spending even if oil prices remain in the low $50 per barrel range, showcasing financial resilience [4] Valuation Metrics - ExxonMobil's current trailing 12-month enterprise value to EBITDA (EV/EBITDA) ratio is 6.45x, which is above the industry average of 4.05x [7] - The Zacks Consensus Estimate for ExxonMobil's earnings in 2025 has been revised downward recently, indicating potential concerns about future performance [8]
Nuveen Municipal OPPORTUNITY FUND Inc:Narrower loss possible,4Q25 breakeven unlikely-20250604
Zhao Yin Guo Ji· 2025-06-04 01:23
Investment Rating - Maintain HOLD rating for NIO Inc. with a target price of US$4.00, down from the previous target of US$5.00, indicating a potential upside of 13.3% from the current price of US$3.53 [4][9]. Core Views - NIO's management targets breakeven in 4Q25, but the assumptions are viewed as unrealistic due to heavy investments in battery swap and sales channels, which require significantly higher sales volumes to achieve breakeven [1][9]. - The FY25E sales volume forecast has been cut by 30,000 units to 350,000 units, implying a sales volume of 235,000 units in 2H25E, or an average monthly volume of about 40,000 units [2][9]. - NIO is projected to incur a net loss of RMB16.2 billion in FY25E, which is RMB0.2 billion higher than the prior forecast due to the reduction in sales volume [2][9]. Financial Summary - Revenue projections for FY25E are set at RMB92,972 million, with a YoY growth of 41.4%, and gross margin expected to be 13.0% [3][11]. - The company is expected to continue facing operating losses, with projected operating profit of RMB(15,561.4) million in FY25E and net profit of RMB(16,241.9) million [3][11]. - The adjusted net profit for FY25E is projected at RMB(14,042.6) million, indicating ongoing challenges in profitability [3][11]. Earnings Summary - NIO's 1Q25 revenue was 2% lower than prior forecasts, with a gross profit margin of 7.6%, which is 0.7 percentage points lower than projected [9][10]. - The operating loss for 1Q25 was RMB6.4 billion, missing forecasts by RMB1.0 billion, primarily due to higher-than-expected SG&A expenses [9][10]. - Management's assumptions for achieving breakeven in 4Q25 include a sales volume of 150,000-160,000 units and a gross profit margin of 17%, which are considered overly optimistic [9][10]. Share Performance - NIO's market capitalization stands at approximately US$7.93 billion, with a 52-week high of US$7.21 and a low of US$3.14 [4][5]. - The stock has experienced a decline of 12.4% over the past month and 23.3% over the past six months [6][9]. Valuation - The target price revision reflects a lower price-to-sales (P/S) multiple of 0.7x for FY25E revenue estimates, indicating a more conservative valuation approach compared to peers [9][10]. - NIO's profitability is considered worse than that of competitors like Li Auto and Xpeng, which justifies the lower P/S multiple [9][10].
Inogen Upgraded: Analyst Sees Growth, EBITDA Breakthrough
Benzinga· 2025-05-22 17:38
Needham analyst Mike Matson upgraded Inogen, Inc INGN from Hold to Buy, with a price forecast of $12.On May 7, the company reported its first-quarter results.Total revenue in the quarter was $82.3 million, an increase of 5.5% from the prior-year period, or 7.1% at constant currency rates, due to higher demand from international and domestic business-to-business customers.Matson highlighted the turnaround efforts led by the company’s new management team, which remains underappreciated by the market.Also Read ...
花旗:截至 2025 年 5 月 13 日的美国通胀图表集
花旗· 2025-05-16 06:25
CITI'S TAKE Breakevens higher — For the week, 5y breakevens were 5.4 bps higher, 10y breakevens were 5.5 bps higher and 30y breakevens were 5 bps higher. Real yields higher — For the week, 5y real yields were 14.9 bps higher, 10y real yields were 9.8 bps higher, and 30y real yields were 5.3 bps higher. 13 May 2025 18:44:45 ET │ 24 pages US Rates Strategy US Inflation Chart Pack May 13 Close Raghav Datla AC V i e w p o i n t | Global Inflation Chart Pack – May 13 Close | Figure 1. Open and closed positions | ...
Seaport Entertainment Group Inc.(SEG) - 2025 Q1 - Earnings Call Transcript
2025-05-13 13:30
Seaport Entertainment Group (SEG) Q1 2025 Earnings Call May 13, 2025 08:30 AM ET Speaker0 Greetings and welcome to the Seaport Entertainment Group First Quarter twenty twenty five Earnings Call. At this time, all participants are in a listen only mode. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Matt Partridge, CFO. Thank you. You may begin. Speaker1 Thank you, operator, and good morning, everyone. Thank you for joining us today for our earnings conference ...
Ginkgo Bioworks (DNA) - 2025 Q1 - Earnings Call Transcript
2025-05-06 21:30
Ginkgo Bioworks (DNA) Q1 2025 Earnings Call May 06, 2025 05:30 PM ET Speaker0 Communications and ownership. It's my third year here at Ginkgo. I've spent much of that time working behind the scenes with our investor relations team on these earnings calls, but I'm thrilled to be joining you for the first time live on air. I'm joined by Jason Kelly, our cofounder and CEO, and Mark Demetriuk, our CFO. Thanks as always for joining us. We're looking forward to updating you on our progress. As a reminder, during ...
Centene(CNC) - 2025 Q1 - Earnings Call Transcript
2025-04-25 19:39
Centene (CNC) Q1 2025 Earnings Call April 25, 2025 03:39 PM ET Company Participants Jennifer Gilligan - Senior Vice President, Finance & Investor RelationsSarah London - CEOAndrew Asher - Executive VP & CFOA.J. Rice - Managing DirectorDave Windley - Managing DirectorAndrew Mok - DirectorLance Wilkes - Managing DirectorJohn Stansel - VP - Equity ResearchMichael Halloran - Associate Director of Research Conference Call Participants Joshua Raskin - Research AnalystJustin Lake - Analyst - Healthcare ServicesAnn ...
Centene(CNC) - 2025 Q1 - Earnings Call Transcript
2025-04-25 15:41
Centene Corporation (NYSE:CNC) Q1 2025 Earnings Conference Call April 25, 2025 8:30 AM ET Company Participants Jennifer Gilligan - Senior Vice President, Finance and Investor Relations Sarah London - Chief Executive Officer Andrew Asher - Executive Vice President and Chief Financial Officer Conference Call Participants Josh Raskin - Nefron Research A.J. Rice - UBS Justin Lake - Wolfe Research Ann Hynes - Mizuho Securities Stephen Baxter - Wells Fargo David Windley - Jefferies Sarah James - Cantor Fitzgerald ...