Latest news with #HammondPowerSolutions
Hamilton Spectator
24-07-2025
- Business
- Hamilton Spectator
Hammond Power Solutions Reports Second Quarter 2025 Financial Results
(Dollar amounts are in thousands, in Canadian currency unless otherwise specified) GUELPH, Ontario, July 24, 2025 (GLOBE NEWSWIRE) — Hammond Power Solutions Inc. ('HPS') (TSX: HPS.A) a leading manufacturer of dry-type transformers, power quality products and related magnetics, today announced its financial results for the second quarter 2025. HIGHLIGHTS We are pleased to share that HPS delivered another strong quarter in Q2 2025, achieving record sales and solid profits despite navigating some cost headwinds. Our quarterly revenue reached approximately $224 million, marking a new record quarter with 14% growth compared to Q2 2024. Our gross margin was slightly lower than the previous year due to rising input costs and further investments in our manufacturing footprint.', said Adrian Thomas, CEO of Hammond Power Solutions. 'Our new production facility in Mexico is complete and we will start shipments later this year. We are also proud to announce that we were awarded Great Place to Work for all of our facilities globally. This honour means a lot to us and reaffirms our belief that our employees are at the core of our success.' Year-to-date, the U.S. market experienced its strongest growth in the private label channel and steady growth in the distribution channel. The Company continued to grow both the number of new customers, as well as sales within existing customers. The Original Equipment Manufacturer ('OEM') channel and private labels channels have increased in the quarter versus prior year, with relatively more business shifting to private label. The two channels have also increased on a year-to-date basis with strong sales to switchgear manufacturers, motor control, mining, and data centres. The Canadian market continued to grow through the distribution channel in both stock and flow product and large projects in commercial construction, electric vehicle ('EV') charging, data centres, public infrastructure, oil and gas, mining, utilities and motor control. The Company's Quarter 2, 2025 backlog increased by 8.4% as compared to Quarter 2, 2024. The Company's backlog decreased 8.0% from Quarter 1, 2025. 'The second quarter was notable in the heightened level of uncertainty in our supply chain and our customer markets. However, the impact of that uncertainty proved to be relatively small, although gross margins did decline below our expectations. Some of this was due to under absorbed overheads in our new Mexico factories as they ramp up, and some to due inflation we are seeing in our supply chain. Adjusted EBITDA margins, while still above 15% on a YTD basis, dropped in the quarter as a result of the lower gross margin', said Richard Vollering, CFO of Hammond Power Solutions. 'As sales increased to record levels, working capital requirements increased. This, combined with high capital expenditures associated with our capital expansion plan, resulted in a net cash outflow, which we expect will begin to reverse in the third quarter.' The Company saw a decrease in its gross margin rate for the three months of Quarter 2, 2025 which was 30.7% compared to Quarter 2, 2024 margin rate of 32.8%, a decrease of 210 basis points. The year-to-date gross margin rate has decreased from 32.3% in 2024 to 31.1% in 2025, a decrease of 120 basis points. The decline in gross margin is mainly the result of higher material costs related to commodity volatility and inflation in the supply chain. Total selling and distribution expenses were $24,665 in Quarter 2, 2025 or 11.0% of sales versus $20,591 in Quarter 2, 2024 or 10.4% of sales, an increase of $4,074 or an increase of 60 basis points. Year-to-date selling and distribution expenses were $46,985 or 11.0% of sales in 2025 compared to $41,658 or 10.7% of sales in 2024, an increase of $5,327 or 30 basis points. The quarter and year-to-date increase in selling and distribution expenses is a result of higher variable freight and commission expenses attributed to the increase in sales. General and administrative expenses were $24,465 or 10.9% of sales for Quarter 2, 2025 compared to Quarter 2, 2024 expenses of $9,062 or 4.6% of sales , an increase of $15,403 or 170 basis points. Year-to-date general and administration expenses were $28,210 or 6.6% of sales in 2025 compared to $38,201 or 9.8% of sales in 2024, a decrease of $9,991 or 320 basis points. The increase is mainly due to an increase in share-based compensation costs, ongoing strategic investments in people and resources to support our growth strategies as well as supporting higher levels of general business activity. Net earnings for Quarter 2, 2025 finished at $13,376 compared to net earnings of $23,590 in Quarter 2, 2024, a decrease of $10,214. Year-to-date net earnings for 2025 finished at $39,598 compared to net earnings of $31,542 in Quarter 2, 2024, an increase of $8,056. EBITDA for Quarter 2, 2025 was $23,720 versus $36,711 in Quarter 2, 2024, a decrease of $12,991 or 35.4%. Adjusted for foreign exchange loss/gain and share-based compensation expenses adjusted EBITDA[1] for Quarter 2, 2025 was $33,396 versus $32,587 in Quarter 2, 2024, an increase of $809 or 2.5%. Year-to-date EBITDA was $64,417 in 2025 and $51,710 in 2024, an increase of $12,707 or 24.6%. Year-to-date adjusted EBITDA was $64,312 in 2025 and $63,559 in 2024, an increase of $753 or 1.2%. Basic earnings per share were $1.12 for Quarter 2, 2025 versus $1.98 in Quarter 2, 2024, a decrease of $0.86. Year-to-date the basic earnings per share were $3.33 in 2025 compared to $2.65 in 2024, an increase of $0.68. Adjusted1 for foreign exchange losses and share-based compensation expenses adjusted earnings per share were $1.72 for Quarter 2, 2025 versus $1.73 for Quarter 2, 2024. Year-to-date adjusted earnings per share were $3.32 for 2025 compared to $3.37 in 2024. The Board of Directors of HPS declared a quarterly cash dividend of twenty-seven and a half cents ($0.275) per Class A Subordinate Voting Share of HPS and a quarterly cash dividend of twenty-seven and a half cents ($0.275) per Class B Common Share of HPS paid on June 27, 2025. Year-to-date the Company has paid a cash dividend of fifty-five cents ($0.55) per Class A Subordinate Voting Share and of fifty-five cents ($0.55) per Class B Shares. THREE MONTHS ENDED: (dollars in thousands) SIX MONTHS ENDED: (dollars in thousands) * EBITDA adjusted for foreign exchange gain or loss and share based compensation Caution Regarding Forward-Looking Information This press release contains forward-looking statements that involve a number of risks and uncertainties, including statements that relate to among other things, Hammond Power Solutions Inc.'s (the 'Corporation' or 'HPS') strategies, intentions, plans, beliefs, expectations and estimates, in connection with general economic and business outlook, prospects and trends of the industry, expected demand for products and services, product development and the Corporation's competitive position. Forward-looking statements can generally be identified, but not limited to, the use of words such as 'may', 'will', 'could', 'should', 'would', 'likely', 'expect', 'intend', 'estimate', 'anticipate', 'believe', 'plan', 'objective' and 'continue' and words and expressions of similar import. Although the Corporation believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. Certain material factors or assumptions are applied in making forward-looking statements, and actual results may differ materially from those expressed or implied in such statements. Important factors that could cause actual results to differ materially from expectations include but are not limited to: general business and economic conditions (including but not limited to risks related to foreign currency fluctuations and changing interest rates); risks associated with the Corporation's business environment (such as risks associated with the financial condition of the oil and gas, mining and infrastructure project business); geopolitical risks; climate related risks; changes in laws and regulations; operational risks (such as risks related to existing and developing new products and services; doing business with partners and suppliers; product sales and performance; legal and regulatory proceedings; dependence on certain customers and suppliers; costs associated with raw materials, products and services; human resources; and the ability to execute strategic plans.) The Corporation does not undertake any obligation to update publicly or to revise any of the forward-looking statements contained in this document, whether as a result of new information, future events or otherwise, except as required by law. This forward-looking information represents our views as of the date of this press release and such information should not be relied upon as representing our views as of any date subsequent to the date of this press release. We have attempted to identify important factors that could cause actual results, performance or achievements to vary from those current expectations or estimated, expressed or implied by the forward-looking information. However, there may be other factors that cause results, performance or achievements not to be as expected or estimated and that could cause actual results, performance or achievements to differ materially from current expectations. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those expected or estimated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. ABOUT HAMMOND POWER SOLUTIONS INC. Hammond Power Solutions Inc. ('HPS' or the 'Company') enables electrification through its broad range of dry-type transformers, power quality products and related magnetics. HPS' standard and custom-designed products are essential and ubiquitous in electrical distribution networks through an extensive range of end-user applications. The Company has manufacturing plants in Canada, the United States (U.S.), Mexico and India and sells its products around the globe. HPS shares are listed on the Toronto Stock Exchange and trade under the symbol HPS.A. Hammond Power Solutions – Energizing Our World For further information, please contact: David Feick Investor Relations 519-822-2441 x453 ir@ 1 Refer to Non-GAAP financial measures on page 3 of this quarterly report
Yahoo
10-07-2025
- Business
- Yahoo
Hammond Power Solutions Announces Second Quarter 2025 Financial Results Conference Call and Webcast Notification
GUELPH, Ontario, July 10, 2025 (GLOBE NEWSWIRE) -- Hammond Power Solutions Inc. ('HPS' or the 'Company') (TSX: HPS.A) today announced that it will release its financial results for the Second Quarter ended June 28, 2025, on Thursday, July 24, 2025, after markets close. Following the release of its financial results, HPS will hold a conference call and webcast on Friday, July 25, 2025, at 9:00 a.m. Eastern Time. This call can be accessed by registration through participant links: Date/Time: July 25, 2025/ 9 a.m. ET Live Call Participant Registration Link: Audio-Only Webcast: A webcast replay will be available for 12 months. ABOUT HAMMOND POWER SOLUTIONS Power Solutions Inc. ('HPS' or the 'Company') enables electrification through its broad range of dry-type transformers, power quality products and related magnetics. HPS' standard and custom-designed products are essential and ubiquitous in electrical distribution networks through an extensive range of end-user applications. The company has manufacturing plants in Canada, the United States (U.S.), Mexico and India and sells its products around the globe. HPS shares are listed on the Toronto Stock Exchange and trade under the symbol HPS.A Hammond Power Solutions – Energizing Our World For further information, please contact: David FeickInvestor Relations (519) 822-2441 ext. 453ir@
Yahoo
24-06-2025
- Business
- Yahoo
Undervalued Small Caps With Insider Action In Global For June 2025
In June 2025, global markets have been navigating a complex landscape marked by geopolitical tensions in the Middle East and mixed economic signals, with smaller-cap indexes showing resilience amid these challenges. As the Federal Reserve holds interest rates steady and anticipates potential rate cuts later in the year, small-cap stocks are capturing attention due to their performance relative to larger indices. In this environment, identifying promising small-cap stocks involves looking for those with strong fundamentals and insider activity that may indicate confidence from within the company. Name PE PS Discount to Fair Value Value Rating Tristel 29.0x 4.1x 10.03% ★★★★☆☆ A.G. BARR 19.3x 1.8x 43.89% ★★★★☆☆ Hemisphere Energy 5.1x 2.1x 10.66% ★★★★☆☆ Nexus Industrial REIT 6.6x 2.9x 19.62% ★★★★☆☆ Sing Investments & Finance 7.3x 3.7x 39.01% ★★★★☆☆ AKVA group 18.2x 0.8x 47.22% ★★★★☆☆ Morguard North American Residential Real Estate Investment Trust 5.6x 1.8x 10.83% ★★★☆☆☆ DIRTT Environmental Solutions 9.7x 0.6x 11.49% ★★★☆☆☆ H+H International 32.3x 0.7x 46.51% ★★★☆☆☆ Seeing Machines NA 2.6x 39.64% ★★★☆☆☆ Click here to see the full list of 169 stocks from our Undervalued Global Small Caps With Insider Buying screener. We'll examine a selection from our screener results. Simply Wall St Value Rating: ★★★★★☆ Overview: Hammond Power Solutions specializes in the manufacture and sale of transformers, with a market cap of CA$0.53 billion. Operations: The primary revenue stream for the company is derived from the manufacture and sale of transformers, with recent revenue reaching CA$799.06 million. The gross profit margin has shown a notable trend, peaking at 33.46% in September 2024 before slightly adjusting to 32.70% by March 2025. Operating expenses have varied over time, with significant allocations towards sales and marketing as well as general and administrative expenses. PE: 15.2x Hammond Power Solutions, a smaller company in its sector, recently reported impressive financial performance with Q1 sales reaching C$201.4 million and net income surging to C$26.22 million from C$7.95 million the previous year. Their earnings per share also increased significantly to C$2.2 from C$0.67, reflecting strong operational efficiency despite relying solely on external borrowing for funding. Insider confidence is evident as new directors joined in May 2025, suggesting strategic leadership changes amidst consistent dividend payouts of C$0.275 per share set for June 27, 2025. Navigate through the intricacies of Hammond Power Solutions with our comprehensive valuation report here. Explore historical data to track Hammond Power Solutions' performance over time in our Past section. Simply Wall St Value Rating: ★★★☆☆☆ Overview: Queen's Road Capital Investment focuses on the selection, acquisition, and management of investments with a market capitalization of approximately $0.29 billion. Operations: Queen's Road Capital Investment generates its revenue through the selection, acquisition, and management of investments. The company has reported a gross profit margin of 100% consistently over several periods, indicating no cost of goods sold is recorded against its revenue streams. Operating expenses primarily consist of general and administrative costs, with occasional non-operating expenses impacting net income. PE: -6.5x Queen's Road Capital Investment, a smaller company with limited revenue, faces challenges with external borrowing as its sole funding source. Recent earnings show a significant downturn, with negative revenue of US$68 million and a net loss of US$70 million for the second quarter ending February 2025. Despite these hurdles, insider confidence is apparent as Brett Blundy purchased approximately 397,000 shares valued at nearly A$2.8 million in April 2025, reflecting potential belief in future prospects. Click to explore a detailed breakdown of our findings in Queen's Road Capital Investment's valuation report. Examine Queen's Road Capital Investment's past performance report to understand how it has performed in the past. Simply Wall St Value Rating: ★★★★☆☆ Overview: Russel Metals operates as one of North America's largest metal distribution and processing companies, with key operations in metals service centers, energy field stores, and steel distribution, and has a market capitalization of approximately CA$2.64 billion. Operations: The primary revenue streams are Metals Service Centers, Energy Field Stores, and Steel Distributors, with Metals Service Centers contributing the largest share. Over recent periods, the gross profit margin has shown a notable range from 15.28% to 28.46%, reflecting fluctuations in cost management and pricing strategies. The company faces significant costs of goods sold (COGS), which directly impact its profitability metrics such as net income margin. PE: 15.5x Russel Metals, a player in the metals distribution industry, shows potential as an undervalued stock. Despite a dip in profit margins from 5.5% to 3.5% over the past year, earnings are projected to grow at 15.33% annually. The company recently reported Q1 sales of CAD 1.17 billion and net income of CAD 43 million, slightly down from last year. Insider confidence is evident with recent share repurchases totaling CAD 83.76 million since August 2024, reflecting management's belief in future prospects despite reliance on external borrowing for funding needs. Delve into the full analysis valuation report here for a deeper understanding of Russel Metals. Evaluate Russel Metals' historical performance by accessing our past performance report. Click this link to deep-dive into the 169 companies within our Undervalued Global Small Caps With Insider Buying screener. Got skin in the game with these stocks? Elevate how you manage them by using Simply Wall St's portfolio, where intuitive tools await to help optimize your investment outcomes. Take control of your financial future using Simply Wall St, offering free, in-depth knowledge of international markets to every investor. Explore high-performing small cap companies that haven't yet garnered significant analyst attention. Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management. Find companies with promising cash flow potential yet trading below their fair value. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include TSX:HPS.A TSX:QRC and TSX:RUS. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Error in retrieving data Sign in to access your portfolio Error in retrieving data
Yahoo
14-05-2025
- Business
- Yahoo
1 Magnificent Industrial Stock Down 35% to Buy and Hold Forever
Written by Brian Paradza, CFA at The Motley Fool Canada Looking for a top TSX industrial sector growth stock with a century-long track record and immense growth potential? Hammond Power Solutions (TSX:HPS.A) stock might be your answer. This literal powerhouse has delivered an astounding 1,750% return over just five years, yet now sits at a compelling discount. Hammond Power Solutions stands tall among Canadian industrial companies since its founding in 1917. The company specializes in power transformers and distribution infrastructure – essential components for an increasingly electrified world that's modernizing its power grids and increasing infrastructure as power-hungry artificial intelligence (AI) data centres emerge. This best industrial stock to buy has experienced a significant 34.5% drop from its recent 12-month highs, trading 27% lower year-to-date. For value-focused and growth-at-a-reasonable-price investors, this recent drop presents a rare opportunity to acquire shares of a quality business at a substantial discount. The dramatic pullback in Hammond Power stock stems from slowing revenue growth, which decelerated to 5.6% year-over-year during the first quarter (Q1 2025) amid trade policy uncertainties. Some investors worry about potential transformer market saturation just as Hammond expands manufacturing capacity. However, these concerns appear overblown when examining the complete picture. Hammond Power's recent quarterly report actually contains numerous positive signals. The company reported a 17% year-over-year increase in order backlog alongside strong standard product shipments exceeding management expectations during the first three months of 2025. The data centre segment performance remains robust, offsetting a potentially temporary weakness in electric vehicle (EV) infrastructure. Strategic price increases implemented in April 2025 should improve margins this quarter. Management directly addressed investor concerns about demand in an earnings call in May, noting that 'the growing backlog indicates that certain sectors, mainly data centres, are still active and that this will continue to propel demand for custom power products.' This top TSX industrial stock sits at the intersection of several massive global trends. The modernization of electricity distribution systems worldwide continues unabated. Growing power demands from artificial intelligence infrastructure create sustained demand. Additionally, the continued electrification of vehicles and transportation systems requires significant grid upgrades. These structural trends aren't disappearing, they're accelerating as countries race to upgrade aging infrastructure. Hammond Power Solutions outperforms industry peers across nearly every profitability metric. With an operating margin of 15.8% versus the industry's 9.9% and a net profit margin of 11.2% compared to the industry average of 4.8%, Hammond demonstrates exceptional operational efficiency. The company generates $11.20 in net profit per $100 of sales – more than double the $4.80 industry average. Its return on invested capital (ROIC) stands at an impressive 24.1% versus an industry average of 7.3%. These numbers demonstrate the TSX industrial stock's superior operational efficiency and potentially sustainable competitive advantages. Despite its operational excellence, Hammond Power stock trades at a substantial discount to peers. Its historical price-to-earnings (P/E) of 12.6 pales compared to the industry average of 42.1. The company's enterprise value-to-earnings before interest, tax, depreciation and amortization (EV/EBITDA) multiple sits at just 8.3 versus the industry's 15.8, while its forward P/E is a modest 12.5. Perhaps most compelling is Hammond's forward price-earnings-to-growth (PEG) ratio of 0.5, suggesting the stock is significantly undervalued given its earnings growth potential. Recent strategic initiatives position Hammond for sustained growth. The company has expanded production capacity to meet increasing demand and is developing a new manufacturing facility in Monterrey, Mexico, with first products expected in 2025. Its strategic acquisition of Micron enhances its U.S. manufacturing presence and market penetration for its brands, while limited tariff exposure thanks to USMCA-compliant products minimizes trade risks. The best industrial stock to buy right now might be hiding in plain sight. Hammond Power Solutions stock offers a compelling combination of a proven business model, industry-leading profitability, significant growth potential, and attractive valuation. The current pullback presents a rare opportunity for long-term investors to acquire shares of this top TSX industrial stock at a substantial discount. With multiple catalysts on the horizon and structural demand trends showing no signs of slowing, Hammond Power stock deserves serious consideration for any 'buy and hold forever' portfolio. The post 1 Magnificent Industrial Stock Down 35% to Buy and Hold Forever appeared first on The Motley Fool Canada. Before you buy stock in Hammond Power Solutions Inc., consider this: The Motley Fool Stock Advisor Canada analyst team just identified what they believe are the Top Stocks for 2025 and Beyond for investors to buy now… and Hammond Power Solutions Inc. wasn't one of them. The Top Stocks that made the cut could potentially produce monster returns in the coming years. Consider MercadoLibre, which we first recommended on January 8, 2014 ... if you invested $1,000 in the 'eBay of Latin America' at the time of our recommendation, you'd have $21,345.77!* Stock Advisor Canada provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month – one from Canada and one from the U.S. The Stock Advisor Canada service has outperformed the return of S&P/TSX Composite Index by 24 percentage points since 2013*. See the Top Stocks * Returns as of 4/21/25 More reading Made in Canada: 5 Homegrown Stocks Ready for the 'Buy Local' Revolution [PREMIUM PICKS] Market Volatility Toolkit Best Canadian Stocks to Buy in 2025 Beginner Investors: 4 Top Canadian Stocks to Buy for 2025 5 Years From Now, You'll Probably Wish You Grabbed These Stocks Subscribe to Motley Fool Canada on YouTube Fool contributor Brian Paradza has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Hammond Power Solutions. The Motley Fool has a disclosure policy. 2025 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
08-05-2025
- Business
- Yahoo
Investors Shouldn't Be Too Comfortable With Hammond Power Solutions' (TSE:HPS.A) Earnings
Hammond Power Solutions Inc. (TSE:HPS.A) announced strong profits, but the stock was stagnant. Our analysis suggests that this might be because shareholders have noticed some concerning underlying factors. We've discovered 2 warning signs about Hammond Power Solutions. View them for free. Many investors haven't heard of the accrual ratio from cashflow, but it is actually a useful measure of how well a company's profit is backed up by free cash flow (FCF) during a given period. To get the accrual ratio we first subtract FCF from profit for a period, and then divide that number by the average operating assets for the period. This ratio tells us how much of a company's profit is not backed by free cashflow. Therefore, it's actually considered a good thing when a company has a negative accrual ratio, but a bad thing if its accrual ratio is positive. While it's not a problem to have a positive accrual ratio, indicating a certain level of non-cash profits, a high accrual ratio is arguably a bad thing, because it indicates paper profits are not matched by cash flow. That's because some academic studies have suggested that high accruals ratios tend to lead to lower profit or less profit growth. Hammond Power Solutions has an accrual ratio of 0.28 for the year to March 2025. Unfortunately, that means its free cash flow was a lot less than its statutory profit, which makes us doubt the utility of profit as a guide. Indeed, in the last twelve months it reported free cash flow of CA$14m, which is significantly less than its profit of CA$89.8m. Hammond Power Solutions' free cash flow actually declined over the last year, but it may bounce back next year, since free cash flow is often more volatile than accounting profits. That might leave you wondering what analysts are forecasting in terms of future profitability. Luckily, you can click here to see an interactive graph depicting future profitability, based on their estimates. Hammond Power Solutions didn't convert much of its profit to free cash flow in the last year, which some investors may consider rather suboptimal. Therefore, it seems possible to us that Hammond Power Solutions' true underlying earnings power is actually less than its statutory profit. But on the bright side, its earnings per share have grown at an extremely impressive rate over the last three years. At the end of the day, it's essential to consider more than just the factors above, if you want to understand the company properly. In light of this, if you'd like to do more analysis on the company, it's vital to be informed of the risks involved. For example - Hammond Power Solutions has 2 warning signs we think you should be aware of. Today we've zoomed in on a single data point to better understand the nature of Hammond Power Solutions' profit. But there are plenty of other ways to inform your opinion of a company. Some people consider a high return on equity to be a good sign of a quality business. While it might take a little research on your behalf, you may find this free collection of companies boasting high return on equity, or this list of stocks with significant insider holdings to be useful. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
