Industrials

CFRA Keeps Buy Recommendation On Shares Of Fiserv, Inc.

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CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: Our unchanged 12-month target price of $160, 16.1x our 2025 EPS estimate, discounts FI’s three-year average of 17.4x, merited given the mixed Q4 bag. Strong organic revenue guidance for 2024 (15%-17%) and Q4 Merchant Acceptance growth took a backseat to Fintech declines (-3% Y/Y). We lift our 2024 EPS view to $8.65 from $8.60 and set 2025’s at $9.95. Revenue came in at $4.64B (+6% Y/Y), missing consensus of $4.68B, while Q4 adj-EPS of $2.19 edged out consensus by $0.04. Clover posted an encouraging 30% Y/Y revenue increase as VAS penetration spiked to 19% (vs. 16% Y/Y), boosting transaction yields by 17% ($271B in annualized GPV) and driving a 14% revenue rise for Merchant Acceptance. Adj-operating margin expanded 150 bps in Q4 (40.7%) and 220 bps in […]

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FAA Administrator Says Has Not Determined How It Will Define Process To Allow Boeing To Eventually Increase 737 Production

/ / Industrials /

FAA Administrator Says Has Not Determined How It Will Define Process To Allow Boeing To Eventually Increase 737 Production; Says It Must First Complete Audit And “Down The Road” Will Gauge What That Means For Boeing Increasing 737 Production.

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Fiserv, Inc. (NYSE: FI) Q4 2023 Earnings Conference

/ / Industrials /

The following is a summary of the Fiserv, Inc. (FI) Q4 2023 Earnings Call Transcript: Financial Performance: Fiserv recorded a successful 2023 with an organic revenue growth of 12%, over 200 basis points of adjusted operating margin expansion, and 16% growth in adjusted earnings per share generating free cash flow of $4 billion. In Q4 2023, adjusted revenue growth of 6% to $4.6 billion, with an adjusted operating income growth of 10% to $1.9 billion, leading to an adjusted operating margin of 40.7%. For the full year 2023, the adjusted operating margin rose to 37.3% with Fiserv’s adjusted EPS increasing 16% to $7.52. Decreased its debt to adjusted EBITDA ratio to 2.7 times, within the company’s targeted leverage range. For 2024, projects an adjusted EPS of $8.55 to $8.70, indicating 14%-16% growth over 2023 and anticipates organic revenue growth of 15% to 17%. Business Progress: Progress was reported in Merchant

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UPS Gets A New Bull With Further Cost-Cuts Ahead

/ / Industrials /

UPS is expected to deliver expanded margins with cost-cuts ahead, according to UBS analysts. They say in a research note that the recently announced 12,000 job reduction is a significant step in reducing costs, but they expect even more at the company’s March analyst meeting. UPS is seen with low expectation among investors, but the analysts see further cost-cuts, such as potentially using technology to lower headcount, driving margin upside in 2024. They upgrade shares to buy from neutral and raise their price target to $175 a share from $160. Shares rise 4.3% to $145.12.

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United Parcel Service (NYSE:UPS) to Expand Margin, Earnings With Cost Reduction Programs, UBS Says

/ / Industrials /

United Parcel Service’s (UPS) cost reduction program is expected help its margin expansion and earnings growth despite muted revenue increase, UBS said in a report Tuesday. The firm said cost reduction through automation in buildings and rationalization of facilities can potentially support over $2 billion of annual cost savings for UPS over the coming years. UBS projects that UPS’ new cost saving programs can provide improved visibility to margin expansion in the domestic package business. “Domestic package margin is the most powerful lever for EPS generation for UPS,” the investment firm said. “Cost savings associated with a more efficient terminal network could come from lower facility and labor expense and also from savings in linehaul costs.” UBS upgraded UPS to buy from neutral and increased price target to $175 from $160. The company’s shares were up 4% in recent trading.

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Caterpillar Likely to Face Pricing Uncertainty in H2, UBS Says

/ / Industrials /

Caterpillar (CAT) is likely to face pricing uncertainty in the second half and if markets remain slow competition increases, there’s a possibility of “downside to revenues and margins,” UBS said in a note emailed Tuesday. Following a strong performance in 2023, the company’s projected guidance suggests no growth in segment profit in 2024. “Between volumes and margins, we think the bigger risk is margins, where the main risk is pricing,” the note said. While volume decline is already expected by the company in 2024, significant downside is not expected unless substantial inventory reduction is necessary. Although the oil and gas business is strong, there could arguably be room for improvements in mining business  beyond 2024, UBS said. “We’re not convinced, and we see downside risk for [Caterpillar] after the run to start 2024,” UBS said. UBS raised its 2024 EPS estimate for the company to $20.40 from $20.15 and 2025

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Fiserv Reports Fourth Quarter and Full Year 2023 Results

/ / Industrials /

Fiserv Reports Fourth Quarter and Full Year 2023 Results GAAP revenue growth of 6% in the quarter and 8% for the full year; GAAP EPS increased 18% in the quarter and 27% for the full year; Operating cash flow increased 12% to $5.16 billion for the full year; Organic revenue growth of 12% both in the quarter and for the full year; Adjusted EPS increased 15% in the quarter and 16% for the full year; Free cash flow increased 14% to $4.02 billion for the full year; Company expects 2024 organic revenue growth of 15% to 17% and adjusted EPS of $8.55 to $8.70, or growth of 14% to 16% BROOKFIELD, Wis.–(BUSINESS WIRE)–February 06, 2024– Fiserv, Inc. (NYSE: FI), a leading global provider of payments and financial services technology solutions, today reported financial results for the fourth quarter and full year 2023. Fourth Quarter and Full Year 2023 GAAP Results

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