Mengniu Dairy (2319.HK): 1H25 First Take: Core OPM beat with improved cash flows despite continued weakness in liquid milk sales; Mengniu reported 1H25 results on 27 Aug, with sales/NP at Rmb41.6bn/Rmb2.0bn respectively, down -6.9%/-16.4% yoy and -3%/-6% vs. GSe Rmb42.8bn/Rmb2.2bn. Core OP (company definition) was up 13% yoy with OPM up 150bps+ yoy to 8.5%, ahead of GSe of 7.6% growth, mainly driven by 1) GPM expansion by 1.5pp in 1H25 (0.7pp higher than GSe) likely due to lower raw milk cost, and 2) strict ...

Core Insights - Perrigo (PRGO) reported adjusted earnings of 57 cents per share for Q2 2025, missing the Zacks Consensus Estimate of 59 cents, but showing a year-over-year increase of 7.5% primarily due to lower interest expenses [1][7] - Net sales decreased by 0.9% year-over-year to $1.06 billion, falling short of the Zacks Consensus Estimate of $1.08 billion, attributed to lost sales from exited businesses and product lines, although partially offset by favorable currency movements [1][2] Sales Performance - Sales dropped 2.5% year-over-year due to exited businesses and product lines, but were positively impacted by a 1.7% favorable currency effect; at constant currency, sales fell 2.6% [2] - Organic net sales declined by 0.1%, indicating a slight decrease when excluding acquisitions, divestitures, and currency impacts [2] Segment Analysis - Consumer Self Care Americas (CSCA) reported net sales of $622 million, down 1.9% year-over-year, with growth in Nutrition, Healthy Lifestyle, and Upper Respiratory categories offset by declines in Digestive Health and Oral Care; organic net sales also fell by 1.9% [4] - Consumer Self Care International (CSCI) reported net sales of $434 million, up 0.7% year-over-year, driven by favorable currency translation and organic sales growth, although at constant currency, sales decreased by 3.5%; organic sales increased by 2.7% [5] Financial Guidance - Perrigo lowered its financial guidance for total sales in 2025, now expecting growth towards the lower end of the previously issued range of 0-3%, primarily due to challenges in the infant formula industry and market consumption trends [6][10] - Despite the downward revision in sales, the company maintained its adjusted EPS guidance of $2.90-$3.10, with an adjusted gross margin around 40% and an adjusted operating margin near 15% [10] Market Reaction - Following the guidance revision, Perrigo's stock price declined by 6% during pre-market trading [6]

Q2 2025 Earnings Presentation August 6, 2025 Bradley Joseph VP Investor Relations & Corporate Communications Forward-Looking Statements Certain statements in this report are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, and are subject to the safe harbor created thereby. These statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our, or ...

Core Viewpoint - Wall Street anticipates a year-over-year increase in earnings for Abbott, driven by higher revenues, with a focus on how actual results will compare to estimates [1][2]. Earnings Expectations - Abbott is expected to report quarterly earnings of $1.25 per share, reflecting a +9.7% change year-over-year, with revenues projected at $11.07 billion, up 6.7% from the previous year [3]. - The earnings report is scheduled for July 17, and better-than-expected results could lead to a stock price increase, while a miss may result in a decline [2]. Estimate Revisions - The consensus EPS estimate has been revised 0.44% lower in the last 30 days, indicating a reassessment by analysts [4]. - A positive Earnings ESP of +0.96% suggests analysts have recently become more optimistic about Abbott's earnings prospects, combined with a Zacks Rank of 2 indicating a likely earnings beat [12]. Earnings Surprise History - Abbott has a history of beating consensus EPS estimates, having exceeded expectations in three out of the last four quarters [14]. - In the last reported quarter, Abbott's earnings of $1.09 per share surpassed the expected $1.07, resulting in a surprise of +1.87% [13]. Conclusion - Abbott is positioned as a strong candidate for an earnings beat, but investors should consider additional factors beyond earnings results when making investment decisions [15][17].

Core Viewpoint - Abbott (ABT) has received an upgrade to a Zacks Rank 2 (Buy), indicating a positive outlook based on rising earnings estimates, which significantly influence stock prices [1][3]. Earnings Estimates and Stock Price Impact - The Zacks rating system emphasizes the importance of earnings estimate revisions, which are strongly correlated with near-term stock price movements [4][6]. - Institutional investors often rely on earnings estimates to determine a company's fair value, leading to buying or selling actions that affect stock prices [4]. Abbott's Earnings Outlook - For the fiscal year ending December 2025, Abbott is expected to earn $5.16 per share, with a 0.2% increase in the Zacks Consensus Estimate over the past three months [8]. - The upgrade reflects an improvement in Abbott's underlying business, which is likely to drive the stock price higher as investor sentiment improves [5][10]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with only the top 20% receiving a "Strong Buy" or "Buy" rating, indicating superior earnings estimate revisions [9][10]. - Stocks rated Zacks Rank 1 have historically generated an average annual return of +25% since 1988, showcasing the effectiveness of the system [7].