Eli Lilly and Company (NYSE:LLY) Morgan Stanley 22nd Annual Global Healthcare Conference Call September 5, 2024 7:45 AM ET Company Participants Jacob Van Naarden - Executive Vice President & President of Lilly Oncology Conference Call Participants Terence Flynn - Morgan Stanley Terence Flynn All right. Good morning, everybody. Thanks for joining us. I'm Terence Flynn, the U.S. Biopharma analyst here at Morgan Stanley. Very pleased to be hosting Eli Lilly this morning. I'm hosting Jake Van Naarden, who is Pr ...

Thermo Fisher Scientific (NYSE:TMO) Morgan Stanley 22nd Annual Global Healthcare Conference September 5, 2024 8:30 AM ET Company Participants Marc Casper - Chairman, President and CEO Conference Call Participants Tejas Savant - Morgan Stanley Tejas Savant Hey, everyone. Good morning. I'm Tejas Savant. I cover life sciences here at Morgan Stanley. Before we kick it off, for important disclosures, please see the Morgan Stanley Research disclosure website at morganstanley.com/researchdisclosures. And if you ha ...

Macy's, Inc. (NYSE:M) Goldman Sachs 31st Annual Global Retailing Conference September 5, 2024 8:15 AM ET Company Participants Tony Spring - Chairman and Chief Executive Officer Adrian Mitchell - Chief Operating Officer and Chief Financial Officer Conference Call Participants Brooke Roach - Goldman Sachs Brooke Roach Good morning, everyone, and welcome to Day Two of our Goldman Sachs Global Retailing Conference. My name is Brooke Roach. I cover the apparel accessories and branded discretionary goods sector h ...

Johnson & Johnson (NYSE:JNJ) Wells Fargo 2024 Healthcare Conference September 5, 2024 11:00 AM ET Company Participants Tim Schmid - Executive Vice President, Worldwide Chairman of MedTech Jessica Moore - Vice President of Investor Relations Tracy Menkowski - Senior Director of Investor Relations Conference Call Participants Larry Biegelsen - Wells Fargo Larry Biegelsen Barry, we're ready? All right, good morning. Welcome back. I am Larry Biegelsen, the Medical Device Analyst at Wells Fargo. And it's my plea ...

The Procter & Gamble Company (NYSE:PG) Barclays 17th Annual Global Consumer Staples Conference Call September 5, 2024 8:15 AM ET Company Participants Andre Schulten - Chief Financial Officer John Chevalier - Head, Investor Relations Conference Call Participants Lauren Lieberman - Barclays Lauren Lieberman Okay. All right. Good morning. If everyone can take their seats, we're going to get started. Happy to kick off this morning with P&G. We have the company's CFO, Andre Schulten, with us, and, of course, Joh ...

Summary of Howmet Aerospace Inc. Conference Call Company Overview - **Company**: Howmet Aerospace Inc. (NYSE: HWM) - **Industry**: Aerospace and Defense Key Points and Arguments Aerospace Build Rates and Demand - The focus is on the demand for aerospace products in 2025, with expectations that both Boeing and Airbus will increase production rates to meet airline needs for fuel efficiency and emissions targets [3][4][5] - Airlines are expected to require more products, both for new aircraft and aftermarket spare parts, due to the aging fleet and increased operational demands [4][5] Supply Chain Management - The past three years have presented challenges in managing supply chains and labor due to inconsistent demand and crises affecting production rates, such as the grounding of the 737 and 787 [7][8] - Howmet has been cautious in its financial guidance, ensuring that commitments to suppliers are manageable while meeting customer demands [9][10] Recruitment and Capital Expenditure - Howmet plans to recruit approximately 1,000 new employees in 2025, depending on demand and efficiency metrics [12] - The company has increased capital expenditures to meet new engine requirements, indicating a proactive approach to future demand [12][24] Engine Margins and Technology - The engine segment achieved a record margin of 31% in Q2, significantly higher than the 22%-23% margins seen in 2019, attributed to advancements in technology and product sophistication [13][14] - Howmet is leveraging military engine technologies for commercial applications, enhancing performance and efficiency [15][16] Long-term Agreements and Revenue Outlook - Recent long-term agreements with major engine OEMs are expected to drive organic growth, with a focus on controlled risk profiles and contracted revenue streams [22][24] - Revenue from these agreements is anticipated to ramp up in 2026, with potential early contributions in late 2025 [26] Market Share and Growth Potential - Howmet has gained approximately 1% market share in engines annually over the past four to five years, with no perceived ceiling on future growth due to ongoing capabilities and product offerings [27][28] - The company is also expanding its space business, which has shown healthy growth and is transitioning to long-term agreements [29] Aftermarket and Spare Parts - The aftermarket segment is projected to exceed $1.1 billion, increasing from 11% to 16% of total revenue, driven by higher duty cycles and time-on-wing issues [41] - The company has backfilled spare parts inventories, indicating strong demand in the aftermarket [40] Fasteners and Structural Components - Fasteners margins are currently around 25%-26%, with expectations for improvement as wide-body production increases [42][44] - The structural segment, while lower margin, is expected to improve as conditions for wide-body aircraft production stabilize [47][49] Financial Management and Capital Deployment - Howmet is focused on managing its balance sheet effectively, reducing debt, and enhancing free cash flow through share buybacks and dividend increases [53][55] - The company has successfully refinanced its debt, resulting in a projected annualized savings of $20 million [55] Additional Important Insights - The company emphasizes the importance of automation in production processes to enhance productivity and meet demand [17] - Howmet tracks every part through its production process, ensuring accountability and efficiency [19] - The management remains cautious about overcommitting to production rates, focusing instead on sustainable growth and operational efficiency [8][10]

Lumen Technologies, Inc. (NYSE:LUMN) Bank of America's 2024 Media, Communications and Entertainment Conference September 5, 2024 8:50 AM ET Company Participants Chris Stansbury - EVP and CFO Conference Call Participants Dave Barden - Bank of America Merrill Lynch Dave Barden All right. So guys, everybody, welcome to round two. Thanks for joining. I'm Dave Barden. I head up telecom infrastructure research for the U.S. and Canada for the bank. I'm really pleased, again, to have Chris Stansbury back in the Oct ...

Corning Incorporated (NYSE:GLW) Citi's 2024 Global TMT Conference September 5, 2024 9:10 AM ET Company Participants Ed Schlesinger - EVP & CFO Conference Call Participants Asiya Merchant - Citi Asiya Merchant My name is Asiya Merchant. I cover the technology, hardware and tech supply chain here at Citi. Welcome to Day 2 of our Global TMT Conference. Very thrilled to have Ed Schlesinger. He's the CFO of Corning. We also have members of the Investor Relations team here in the audience. Of course, this sessio ...

Hormel Foods Corporation (NYSE:HRL) Barclays 17th Annual Global Consumer Staples Conference September 5, 2024 9:45 AM ET Company Participants Jim Snee - Chairman, President & CEO Jacinth Smiley - EVP & CFO Conference Call Participants Unidentified Analyst Said - well it works. Good morning. Thanks for joining us. Next on stage, we've got Hormel Foods. With us is Jim Snee, company's CEO, joined back in 1989, as well as Jacinth Smiley, who joined as the CFO back in 2021. The company just reported third fiscal ...

Exxon Mobil Corporation (NYSE:XOM) Barclays 38th Annual CEO Energy-Power Conference Call September 5, 2024 8:00 AM ET Company Participants Dan Ammann - President and Head, Low Carbon Solutions Conference Call Participants Betty Jiang - Barclays Betty Jiang Welcome to the Third Day of the 38th Barclays Annual Energy Conference. It's my great pleasure to introduce and welcome Dan Ammann, President and Head of Low Carbon Solutions at ExxonMobil. This is a business that's going to scale a portfolio of lower emi ...