S&P Global Inc. (NYSE:SPGI) Annual Deutsche Bank Global Financial Services Conference May 30, 2024 12:10 PM ET Company Participants Douglas Peterson - President & CEO Conference Call Participants Faiza Alwy - Deutsche Bank Faiza Alwy All right, everyone. We're going to get started. Good afternoon. Thank you for joining us. We are so pleased and honored to have here with us Doug Peterson, President and CEO of S&P Global. As you all know, S&P Global is a provider of credit ratings, benchmarks, analytics and w ...

eBay Inc. (NASDAQ:EBAY) Bernstein 40th Annual Strategic Decisions Conference May 30, 2024 1:30 PM ET Company Participants Stephen Priest - CFO Conference Call Participants Nikhil Devnani - Bernstein Nikhil Devnani All right. Good afternoon, everybody. Thank you so much for being here. My name is Nikhil Devnani. I'm Bernstein's U.S. emerging Internet analyst, covering eBay, and it's my pleasure today to be hosting Steve Priest, CFO of eBay. Steve has been in the role for the past three years, where eBay has ...

Honeywell International Inc. (NASDAQ:HON) Jefferies 2nd Annual eVTOL / AAM Summit Conference May 30, 2024 1:50 PM ET Company Participants Dave Shilliday - VP and GM, UAM/UAS, Honeywell Aerospace Technologies Conference Call Participants Sheila Kahyaoglu - Jefferies Sheila Kahyaoglu Good afternoon, everyone. My name is Sheila Kahyaoglu the Jefferies Aerospace Defense and Airlines Equity Research team. Thank you so much for joining us for our 2nd Annual eVTOL summit and our final presentation of the day, wher ...

General Motors Company (NYSE:GM) Bernstein’s 40th Annual Strategic Decisions Conference May 30, 2024 2:30 PM ET Company Participants Mary Barra - Chairman and CEO Conference Call Participants Daniel Roeska - Bernstein Daniel Roeska All right, excellent. Welcome everybody. We're here with Mary Barra, Chair and CEO of General Motors. Thanks very much for making time and being here in New York with us. Mary Barra Well, thanks for the opportunity. Daniel Roeska Absolutely. We're going to spend the hour talking ...

Northrop Grumman Corporation (NYSE:NOC) Conference Call Summary Company Overview - Northrop Grumman Corporation is experiencing strong business growth, with a 9% increase in revenue, 10% increase in earnings, and 15% increase in free cash flow for the first quarter of the year [2][3][4] - The company has reaffirmed its guidance for growth in the 4% to 5% range and free cash flow growth at about 17% [2][3] Key Financial Metrics - Revenue increased by 9% [2] - Earnings increased by 10% [2] - Free cash flow increased by 15% [2] - Dividend increased by 10% [3] - Planned share repurchases of over $2 billion for the year [4] Industry Dynamics - There is a strong global demand for Northrop Grumman's products and services, particularly from international markets, especially Europe [6][7] - The company has expanded its product offerings, including exportable unmanned systems and missile defense capabilities [7] - Macroeconomic pressures, such as supply chain challenges and labor market tightness, are subsiding, allowing for better fulfillment of demand [8] Defense Budget Environment - The current defense budget is under congressional caps, leading to pressure on top-line growth [10] - Despite budget constraints, there is bipartisan support for defense spending, and the company is optimistic about future appropriations [11][13] Program Updates - The B-21 program is a focus, with efforts to avoid further financial charges and ensure successful execution [19][20] - Aeronautics is returning to growth, driven by the B-21 and other programs like F-35 and Triton [24][28] - The Sentinel program is undergoing a review process, with expectations for recertification and continued execution [35][36] International Opportunities - Northrop Grumman is positioned for significant international growth, with a focus on unmanned systems, tactical missiles, and Integrated Air and Missile Defense [44][47] - The company anticipates double-digit growth in international demand, especially as U.S. budgets remain flat [48] Space Segment - The Space segment is expected to experience flat growth due to budget constraints, but the company has a strong backlog to support ongoing projects [52][54] - Northrop Grumman is actively participating in next-generation space programs, including SDA awards [57][59] Missiles Business - The missiles business is experiencing increased demand, with specific programs like AARGM-ER showing growth potential [67][71] - The company has gained market share in rocket motors due to increased capacity and execution [73] Mission Systems - The Mission Systems segment is facing margin pressures but is expected to return to a 15% margin as macroeconomic challenges subside [75][78] Capital Expenditure and Free Cash Flow - The company is guiding for $1.8 billion in CapEx this year, with expectations to normalize spending in the future [84][86] - Free cash flow growth is projected at 17% for the year, with expectations for continued strong performance [88] Leadership and Succession - Recent leadership changes were made in anticipation of retirements, with a focus on maintaining continuity and strong execution [15][17] Conclusion - Northrop Grumman is optimistic about its growth prospects, focusing on executing key programs and expanding its international presence while navigating budgetary constraints and macroeconomic challenges [90]

Airbnb, Inc. (NASDAQ:ABNB) Bernstein's 40th Annual Strategic Decisions Conference Call May 30, 2024 2:30 PM ET Company Participants Ellie Mertz - Chief Financial Officer Conference Call Participants Richard Clarke - Bernstein Richard Clarke Great. Well, good afternoon, everybody, and thanks for joining us here for the 2:30 session. For those who don't know me, I'm Richard Clarke, I'm the analyst that covers the global hotel and leisure sector. I'm absolutely delighted to be joined by Airbnb's CFO, Ellie Mer ...

Bank of America Corporation (NYSE:BAC) Bernstein's 40th Annual Strategic Decisions Conference May 30, 2024 11:00 AM ET Company Participants Brian Moynihan - CEO Conference Call Participants John McDonald - Bernstein Stock Analyst John McDonald Okay. We're ready to get going. Thanks, everyone. We're very happy to have Bank of America back today. CEO Brian Moynihan. Brian, thanks so much for coming back. Brian Moynihan John, it's been many times. Good to see you again. Question-and-Answer Session Q - John McD ...

Visa Inc. (NYSE:V) Bernstein Strategic Decisions Conference May 30, 2024 9:00 AM ET Company Participants Ryan McInerney - CEO Conference Call Participants Harshita Rawat - Bernstein Harshita Rawat Good morning, everyone. I'm Harshita Rawat, Senior Analyst, covering payments at Bernstein. I'm delighted to be joined today by Ryan McInerney, Visa's CEO. Ryan, thank you so much for joining us today. Ryan McInerney Thanks for having me. Great to be here. Question-and-Answer Session Q - Harshita Rawat So let's ki ...

Intel Corporation (NASDAQ:INTC) Goldman Sachs Global Semiconductor Conference Call May 30, 2024 10:50 AM ET Company Participants John Pitzer - Corporate Vice President of Planning & Investor Relations Conference Call Participants Toshiya Hari - Goldman Sachs Toshiya Hari We'd like to get started. Thank you so much, everyone, for joining us. My name is Toshiya Hari, I cover the U.S. semiconductor space here at Goldman. Great to have John Pitzer from Intel here with us. He is Corporate VP, Planning and IR. Be ...

U.S. Bancorp (NYSE:USB) Bernstein's 40th Annual Strategic Decisions Conference May 30, 2024 9:00 AM ET Company Participants Andy Cecere - Chairman and Chief Executive John Stern - Senior Executive Vice President and Chief Financial Conference Call Participants John McDonald - Bernstein John McDonald Okay, good morning. Thanks everyone. We're very happy to start today off with U.S. Bancorp joining us again. From the company we have CEO Andy Cecere and CFO John Stern. Thank you both for coming. Andy Cecere Th ...