Warner Bros. Discovery, Inc. (NASDAQ:WBD) Goldman Sachs Communacopia + Technology Conference September 12, 2024 1:10 PM ET Company Participants David Zaslav - President & Chief Executive Officer Conference Call Participants Mike Ng - Goldman Sachs Mike Ng Thank you, everybody. Welcome to the Warner Bros. Discovery fireside chat at the Goldman Sachs Communacopia and Technology Conference. I have the privilege of introducing David Zaslav, who is the President and CEO of Warner Bros. Discovery. David has been ...

3M Company (NYSE:MMM) Morgan Stanley 12th Annual Laguna Conference September 12, 2024 10:00 AM ET Company Participants Bruce Jermeland - SVP, IR William Brown - Director and CEO Conference Call Participants Chris Snyder - Morgan Stanley Chris Snyder All right. Thank you, everybody. Super excited for day two here at the Laguna Conference. No better way to kick it off than with 3M, new CEO, Bill Brown. We also have Bruce Jermeland from IR. Before we get into the fireside, Bruce -- Bill is going to start with ...

Alcoa Corporation (NYSE:AA) Morgan Stanley's 12th Annual Laguna Conference September 12, 2024 10:00 AM ET Company Participants Molly Beerman - Executive Vice President and Chief Financial Officer Conference Call Participants Carlos De Alba - Morgan Stanley Carlos De Alba Good morning everyone. Thank you for joining the conference. And Molly Beerman, Executive Vice President and CFO of Alcoa. Very happy to have you here with us and do this again. And so look, maybe for those folks that might not be as famili ...

Marvell Technology, Inc. (NASDAQ:MRVL) Goldman Sachs Communacopia + Technology Conference Call September 11, 2024 6:45 PM ET Company Participants Matthew Murphy - Chairman and Chief Executive Officer Conference Call Participants Toshiya Hari - Goldman Sachs Group, Inc. Toshiya Hari Okay. Great. I think we're live. Good afternoon, everyone. Thank you so much for coming. My name is Toshiya Hari. I cover the semiconductor space for Goldman. Very psyched, very honored to have the team from Marvell with us this ...

Twilio Inc. (NYSE:TWLO) Goldman Sachs Communacopia + Technology Conference Call September 9, 2024 6:45 PM ET Company Participants Khozema Shipchandler - Chief Executive Officer Conference Call Participants Kasthuri Rangan - Goldman Sachs Matthew Martino - Goldman Sachs Kasthuri Rangan How is everybody doing, by the way? First day, it's just day one. We've got three more days so energize yourself. It's going to get better and better and better. It's going to be good now, and it's going to get – not good. I s ...

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) Goldman Sachs Communacopia + Technology Conference September 11, 2024 6:45 PM ET Company Participants George Kurtz - CEO and Co-Founder Conference Call Participants Gabriela Borges - Goldman Sachs Gabriela Borges All right. We will go ahead and kick it off. Thank you for joining us at the CrowdStrike session this afternoon at the Goldman Sachs Communacopia and Technology Conference. I'm Gabriela Borges, I cover Security here at Goldman. Delighted to have on stage wit ...

Royal Bank of Canada (NYSE:RY) Barclays 22nd Annual Global Financial Services Conference September 11, 2024 11:15 AM ET Company Participants Katherine Gibson - CFO Conference Call Participants Brian Morton - Barclays Brian Morton All right. Thank you, everyone. We're in the homestretch here. This is the final presentation for today. With us, we have Royal Bank of Canada. Joining us is Katherine Gibson, Chief Financial Officer. Welcome, Katherine. Katherine Gibson Thank you. Question-and-Answer Session Q - B ...

Industry/Company Overview * **Company**: Sirius XM Holdings Inc. (NASDAQ: SIRI) * **Industry**: Satellite radio and streaming audio services Key Points Transaction with Liberty Media * **Transaction**: SiriusXM completed the acquisition of the Liberty tracking stock group, making it a freely independent, publicly traded company. * **Impact**: * Simplified company structure and improved investor thesis. * Accelerated share repurchase, retiring 12% of shares and assuming $1.6 billion in debt. * Focus on investing in the business, maintaining the dividend, and deleveraging. Business Strategy * **Focus**: Delivering unique audio experiences, transforming the business for long-term success, and building on the strength of the core SiriusXM service. * **Key Areas of Investment**: * Strengthening presence in the car, including partnerships with OEMs, offering subscription bundles, and supporting pure-play EVs. * Enhancing 360L platform, focusing on personalized experiences, seamless integration with streaming products, and targeted advertising. * Expanding streaming-only offerings, targeting younger audiences, and improving engagement metrics. * Leveraging advertising assets, including Pandora, podcasting, and SXM Media, to grow the platform and increase revenue. Financial Outlook * **Revenue**: $8.75 billion in revenue, $2.7 billion in EBITDA, and $1 billion of free cash flow for 2024. * **Headwinds**: Economic uncertainty, shifting consumer behaviors, and increased competition. * **Cost Structure**: Focus on cost efficiency to balance short-term results with long-term investments. * **Capital Allocation**: Using cash flow to fund growth opportunities, maintain the dividend, deleverage, and be opportunistic about share repurchases. Other Important Points * **360L Penetration**: Approximately 40% of new car trial starts have 360L, with plans to reach above 50% next year and above 80% in the coming years. * **Streaming-Only Service**: Launched at $9.99, targeting broader audiences and reducing reliance on discounted promotional plans. * **Bundle Opportunities**: Exploring opportunities to bundle services with Pandora, leveraging music discovery and interactive music capabilities. * **Free Access Plan**: Testing and learning into the product, with plans to unlock ad opportunities as volumes increase. * **Content Strategy**: Focusing on human curation and bringing differentiated content to the market, including exclusive content with talent like Alex Cooper.

Walmart Inc. (NYSE:WMT) Goldman Sachs Communacopia and Technology Conference Call September 11, 2024 1:10 PM ET Company Participants Seth Dallaire - Executive Vice President and Chief Revenue Officer, Walmart US Conference Call Participants Kate McShane - Goldman Sachs Kate McShane Good morning, everyone. Thank you for joining us today. My name is Kate McShane. I'm the Hardlines Broadlines Retail Analyst at Goldman Sachs. It's my pleasure to introduce Walmart and to moderate today's fireside chat. Today, we ...

Company and Industry Overview * **Company**: Intuit Inc. (NASDAQ:INTU) * **Industry**: Financial Technology, specifically focused on small and medium-sized businesses (SMBs) and tax software. * **Key Focus**: Transitioning from a tax and accounting platform to a comprehensive business platform offering services like marketing, cash flow management, bookkeeping, and accounting. Core Points and Arguments * **Five-Year Vision**: Intuit aims to become a platform where all customer experiences are "done for them" by AI-powered human experts. This includes marketing, cash flow management, bookkeeping, accounting, and taxes. * **Mid-Market Focus**: Intuit plans to become a leader in the mid-market segment, targeting businesses with up to 250 employees. This segment represents a $300 billion total addressable market (TAM) with almost $100 billion available for Intuit. * **Small Business Strength**: Despite challenges like rising costs and labor shortages, small businesses on Intuit's platform are experiencing stronger growth and profitability compared to last year. * **Gen AI and Intuit Assist**: Intuit is investing heavily in Gen AI and Intuit Assist to automate tasks for customers, save time, and improve cash flow. This includes features like creating invoices, sending reminders, and following up on payments. * **Payment and Workforce Solutions**: Intuit's payment and workforce solutions, including payroll and bill pay, grew significantly last year. The company aims to further expand its money movement platform capabilities. * **QBO Advanced**: Intuit's QBO Advanced platform is designed for larger, more complex businesses. It experienced 28% customer growth last year and has a massive TAM of $90-100 billion in the mid-market segment. * **Tax Market**: Intuit's tax market TAM is approximately $40 billion, with a focus on the assisted segment, which represents a significant growth opportunity for TurboTax Live. Other Important Points * **Investment in AI**: Intuit has been investing in AI for over five years, developing its own Gen AI operating system and large language models. * **Outbound Sales**: Intuit has established an outbound sales team for the first time in its history to target mid-market customers. * **Product Development**: Intuit plans to announce new capabilities for its platforms, including consolidated reporting, segment reporting, and multi-entity support. * **Competitive Landscape**: The mid-market segment is not crowded, with most customers using manual methods like Excel and Google Sheets.