Key Takeaways from the Economic Survey F2025-26 Industry Overview - **Country**: India - **Focus**: Economic growth, fiscal policy, inflation, external stability, and sectoral performance Core Insights 1. **Growth Expectations**: - Real GDP growth is projected at **7.4% YoY for F2026** and between **6.8% and 7.2% YoY for F2027**. Domestic demand is expected to support this growth despite global uncertainties [9][10] - The cumulative impact of recent policy reforms has lifted the economy's medium-term growth potential closer to **7%** [11] 2. **Inflation Management**: - Headline CPI has softened due to a downturn in food prices, with core inflation hovering around **4%**. The survey anticipates inflation to remain anchored within manageable ranges, supported by strong agricultural output and stable global commodity prices [9][18] 3. **External Stability**: - India maintains robust external macro stability, with strong services exports and remittances supporting the current account. The capital account has attracted substantial gross FDI, indicating resilience amid global volatility [19][20][22] 4. **Fiscal Policy**: - The fiscal deficit is expected to be **4.2% of GDP** for F2027, with a commitment to a transparent medium-term debt glide path of **50% of GDP ±1ppt by F2031**. The government emphasizes a calibrated fiscal strategy that combines consolidation with sustained public investment [2][23] Sectoral Insights 1. **Agriculture**: - Growth in agriculture is critical for food security and livelihoods. Allied activities like horticulture and dairy are key contributors. Policy measures to improve infrastructure and productivity are essential [11] 2. **Industry**: - Transition to higher-value manufacturing is gaining traction, supported by ongoing capital expenditure and reforms like the PLI scheme. However, challenges such as high logistical costs and regulatory complexity persist [12][13] 3. **Infrastructure**: - Significant investments in infrastructure are crucial for growth and productivity. Initiatives like PM GatiShakti and the National Logistics Policy aim to enhance logistical coordination and reduce transaction costs [14] 4. **Services**: - The services sector is a major driver of economic growth and employment, with a focus on high-value, technology-driven segments. Tailored reforms are necessary to maintain competitiveness [15] Additional Considerations - **Medium-term Growth Path**: - Achieving inclusive growth is linked to augmenting productive capacity and institutional transformation, aligning with the long-term vision of "Viksit Bharat" by 2047 [27][28] - **State Finances**: - State governments are encouraged to improve revenue mobilization and spending composition, with a focus on conditional cash transfers linked to verifiable actions to avoid widening deficits [24][25][26] This summary encapsulates the key points from the Economic Survey F2025-26, highlighting India's growth trajectory, fiscal strategies, and sectoral developments while addressing potential risks and challenges.

Core Insights - A. O. Smith Corporation (AOS) reported fourth-quarter 2025 adjusted earnings of 90 cents per share, exceeding the Zacks Consensus Estimate of 84 cents, marking a 6% year-over-year increase [1] - The company's net sales for the quarter were $912.5 million, falling short of the consensus estimate of $923 million, but remained stable year over year due to strong performance in the commercial water heater and boiler markets in North America [1] Financial Performance - For the full year 2025, A. O. Smith generated revenues of $3.83 billion, reflecting a 0.3% increase year over year, with adjusted earnings at $3.85 per share, up from $3.73 in 2024 [2] - North America sales increased by 3.5% year over year to $713.7 million, surpassing the estimated $702.5 million, driven by effective pricing strategies [3] - The Rest of the World segment reported sales of $205.7 million, down 13.1% year over year, with notable declines in China, although India saw an 18% increase in organic sales [4] Margin and Cost Analysis - A. O. Smith's cost of sales decreased by 2.1% year over year to $562.1 million, while selling, general, and administrative expenses rose by 2.5% to $186.6 million [5] - Gross profit increased by 3.6% year over year to $350.4 million, resulting in a gross margin of 38.4%, up from 37.1% in the previous year [5] Liquidity and Cash Flow - As of December 31, 2025, A. O. Smith's cash and cash equivalents totaled $174.5 million, down from $239.6 million at the end of December 2024 [6] - Long-term debt decreased to $112.7 million from $183.2 million at the end of December 2024, while cash provided by operating activities increased to $616.8 million from $581.8 million year over year [6] Share Repurchase and Future Outlook - In 2025, A. O. Smith repurchased 5.9 million shares for $400.8 million, with approximately 0.8 million shares remaining under the repurchase authorization [9] - The company expects to repurchase shares worth approximately $200 million in 2026, following a board decision to increase the buyback program by an additional 5 million shares [9] - A. O. Smith projects net sales for 2026 to be in the range of $3.90-$4.02 billion, with adjusted earnings per share expected between $3.85 and $4.15 [10]

Core Insights - Oshkosh reported revenue of $2.69 billion for the quarter ended December 2025, reflecting a 2.5% increase year-over-year and a 4.95% surprise over the Zacks Consensus Estimate of $2.56 billion. EPS was $2.26, down from $2.58 in the same quarter last year, resulting in a -3.18% surprise compared to the consensus estimate of $2.33 [1][2]. Revenue Performance - Total Vocational net sales were $922.4 million, compared to an average estimate of $1 billion, marking a year-over-year increase of 4.8% [4]. - Total Transport net sales reached $566.7 million, exceeding the estimated $531.97 million [4]. - Total Access net sales amounted to $1.17 billion, surpassing the average estimate of $981.37 million, with a year-over-year change of 1.3% [4]. - Corporate and other net sales were $28.1 million, above the estimated $24.77 million, reflecting a 5.2% increase year-over-year [4]. - Aerial work platforms within Access generated $548.6 million, exceeding the estimated $462.4 million, with a 0.6% year-over-year change [4]. - Other Access sales were $311.8 million, surpassing the estimated $245.27 million, showing a 7.7% increase year-over-year [4]. - Telehandlers within Access reported $311.2 million, below the estimated $272.9 million, with a -3.4% year-over-year change [4]. Operating Income - Adjusted Access segment operating income (non-GAAP) was $103 million, exceeding the average estimate of $80.58 million [4]. - Transport operating income was $22.8 million, below the average estimate of $29.76 million [4]. - Adjusted Vocational segment operating income (non-GAAP) was $149.6 million, lower than the average estimate of $168.96 million [4]. - Adjusted corporate and other operating loss (non-GAAP) was -$49.5 million, better than the average estimate of -$56.45 million [4]. Stock Performance - Oshkosh shares have returned +16.3% over the past month, significantly outperforming the Zacks S&P 500 composite's +0.8% change [3]. - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3].

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Core Viewpoint - Dover Corporation is a global manufacturer with a diverse range of products and services, enhancing its market resilience and positioning it well for growth across various sectors [1][2][3]. Group 1: Company Overview - Dover operates through segments such as Engineered Products, Clean Energy & Fueling, and Climate & Sustainability Technologies, allowing it to serve various industries [1]. - The company faces competition from other industrial manufacturing firms like Emerson Electric and Parker Hannifin [1]. Group 2: Market Sentiment - The consensus price target for Dover's stock has increased from $207.29 to $223 over the past year, indicating growing analyst confidence in the company's future [2][6]. - Despite a lower price target set by Deutsche Bank at $176, the overall sentiment towards Dover remains positive due to its strong market presence [4][6]. Group 3: Innovation and Growth Potential - Dover's focus on innovation, particularly in digital and software services, strengthens its position in the industrial landscape and aligns with evolving industry needs [3][6]. - Strategic acquisitions and strong bookings contribute to a positive market outlook and potential for growth across various sectors [3][6]. Group 4: Earnings Expectations - As Dover prepares to announce its fourth-quarter earnings, expectations are high for growth in both revenue and profit, with analysts anticipating another earnings beat [4]. - The company's history of consistently exceeding earnings expectations highlights its strong operational performance and supports its potential for continued success [5].

Core Viewpoint - Advanced Drainage Systems (WMS) is anticipated to report a year-over-year increase in earnings despite a decline in revenues for the quarter ending December 2025, with actual results being crucial for stock price impact [1][2]. Earnings Expectations - The upcoming earnings report is expected to reveal quarterly earnings of $1.11 per share, reflecting a +1.8% change year-over-year, while revenues are projected at $686.55 million, down 0.6% from the previous year [3]. - The consensus EPS estimate has been revised 0.71% higher in the last 30 days, indicating a positive reassessment by analysts [4]. Earnings Surprise Prediction - The Zacks Earnings ESP model shows a positive Earnings ESP of +0.98%, suggesting analysts are optimistic about the company's earnings prospects [11]. - A positive Earnings ESP is a strong indicator of an earnings beat, especially when combined with a Zacks Rank of 1, 2, or 3, which enhances predictive power [8]. Historical Performance - In the last reported quarter, Advanced Drainage exceeded the expected earnings of $1.7 per share by delivering $1.97, resulting in a surprise of +15.88% [12]. - Over the past four quarters, the company has beaten consensus EPS estimates twice [13]. Investment Considerations - While an earnings beat can influence stock movement, other factors may also affect investor sentiment, making it essential to consider the broader context [14][16]. - Monitoring the Earnings ESP and Zacks Rank can help identify stocks with higher chances of beating earnings expectations [15].

Core Insights - Dover Corporation reported $2.1 billion in revenue for Q4 2025, an 8.8% year-over-year increase, with an EPS of $2.51 compared to $2.20 a year ago, exceeding the Zacks Consensus Estimate of $2.07 billion by 1.49% [1] Financial Performance - Revenue by segment: - Engineered Products: $275.55 million, -4.4% year-over-year, below the estimate of $291.22 million [4] - Clean Energy & Fueling: $551.89 million, +4.5% year-over-year, slightly above the estimate of $549.96 million [4] - Climate & Sustainability Technologies: $387.27 million, +11.4% year-over-year, above the estimate of $375.89 million [4] - Pumps & Process Solutions: $583.62 million, +21.8% year-over-year, exceeding the estimate of $546.35 million [4] - Imaging & Identification: $302.24 million, +4.7% year-over-year, slightly below the estimate of $303.93 million [4] - Intersegment eliminations: -$1.5 million, worse than the estimate of -$1.26 million, representing an -18.6% change year-over-year [4] - Adjusted EBITDA by segment: - Engineered Products: $67.98 million, above the estimate of $65.37 million [4] - Clean Energy & Fueling: $114.68 million, below the estimate of $121.44 million [4] - Climate & Sustainability Technologies: $68.12 million, above the estimate of $64.83 million [4] - Pumps & Process Solutions: $186.49 million, above the estimate of $179.26 million [4] - Imaging & Identification: $83.61 million, below the estimate of $87.1 million [4] Stock Performance - Dover's shares have returned +5.5% over the past month, outperforming the Zacks S&P 500 composite's +0.8% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market [3]

Q4 2025 EARNINGS UPDATE | JANUARY 29, 2026 FOURTH QUARTER 2025 EARNINGS CALL | 2 CES highlights FOURTH QUARTER 2025 EARNINGS CALL | 1 Forward-looking statements This presentation contains statements that the Company believes to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact, including, without limitation, statements regarding the Company's future financial position, business strategy, growth ...

Core Insights - Xometry, Inc. has officially extended its sponsorship of endurance driver Alexander Jacoby for the 2026 racing season, partnering with Swiss team CLX Motorsport [1][7] - Jacoby will compete in prestigious events such as the Asian Le Mans, Michelin Le Mans Cup, and European Le Mans Series, showcasing Xometry's brand in the engineering and motorsport communities [1][2] Company Overview - Xometry operates an AI-powered marketplace that connects buyers and suppliers in custom manufacturing, aiming to digitize the manufacturing industry through real-time pricing and lead time data [5] - The company provides critical resources for manufacturers to grow their business and streamlines procurement processes for buyers [5] Partnership Significance - The partnership with Jacoby reflects Xometry's commitment to excellence in manufacturing, paralleling Jacoby's disciplined execution and technical precision in racing [2][3] - Dmitry Kafidov, General Manager of Xometry Europe, emphasized the shared mindset of precision and speed between Xometry and Jacoby's racing approach [3] Racing Schedule - Jacoby's racing season includes iconic circuits globally, with highlights in the Asian Le Mans Series currently underway at the Sepang International Circuit, and future events in Dubai and Abu Dhabi [4][6]

FISCAL FIRST QUARTER 2026 HIGHLIGHTS January 28, 2026 PLEXUS CONFIDENTIAL FISCAL FIRST QUARTER THEMES Program wins, share gains and improving market demand position Plexus in F26 to meet or exceed high end of 912% revenue growth goal. Forecast strong F26 operating leverage inclusive of investments in talent, technology, facilities and advanced capabilities. PLEXUS CONFIDENTIAL SAFE HARBOR AND FAIR DISCLOSURE STATEMENT Some of the statements made and information provided during our call as well as informatio ...