After Green Growth Brands reported its earnings, Eight Capital downgraded the stock from “buy” to “sell.” Currently, three analysts follow the company.
On Tuesday, GW Pharmaceuticals reported its fourth-quarter earnings after the market closed. For the quarter, the company reported revenue of $109.1 million.
Green Growth Brands will likely report its results for the second quarter of fiscal 2020 on February 24. Analysts expect the company’s revenue to rise sequentially.
Analysts expect Green Growth to become profitable in fiscal 2021. In fiscal 2020, they expect the company to report a negative EBITDA of $80.2 million.
Weakness in cannabis stocks continued today, the fourth day of decline. The US equity market fell today due to the growing tension between the US and Iran.
Previously in this series, we’ve looked at February’s consolidated steel import data. In this article, we’ll see which product categories saw major changes in imports during the month.
Last year, we saw a sharp increase in global steel production. According to the World Steel Association (or WSA), global steel production rose 5.3% year-over-year (or YoY) to 1.69 billion metric tons.
Along with releasing its 2017 results, Kinross Gold (KGC) also announced an acquisition of two hydroelectric power plants in Brazil from a subsidiary of Gerdau (GGB).
As we discussed previously, ArcelorMittal (MT) has submitted its bid for Essar Steel. The acquisition, if completed, will provide ArcelorMittal with a strong platform in India.
Commercial Metals Company is scheduled to release its fiscal 4Q17 earnings on October 26. Note that the company’s financial year runs from July to August.
In this article, we’ll look at ArcelorMittal’s 1Q17 cash flow and leverage positions. As of the end of 1Q17, ArcelorMittal had net debt of $12.1 billion.
ArcelorMittal’s 1Q17 operating income rose sharply in 1Q17 compared to 4Q16. There are several other metrics we can look at to assess a company’s financial performance.
Steel stocks have come under selling pressure over the last few weeks. Companies like U.S. Steel (X) and AK Steel (AKS) are trading with massive year-to-date losses.
Since US steel demand is the major driver behind steel companies’ volumes and prices, it’s important to track the data for Cliffs Natural Resources (CLF).
Brazil (EWZ) is expected to see a reversal of the downward trend in its economic growth in 2017, mostly with the help of rising commodity prices and improvements in exports.
Because China is the world’s largest steel consumer, it’s important for investors in companies such as U.S. Steel, ArcelorMittal, POSCO, and Gerdau to keep track of the Chinese steel industry.
Integrated operations have been one of the factors driving steel companies’ recent performances. Iron ore and coal mining fall under steel companies’ upstream operations.
George Soros sees Russia in a weak position. He believes that it has enough reserves to last a couple of years. It might see a lot of debt coming due in 2017.
The Brazilian real weakened to record lows against the US dollar in 2015. Depressed debt ratings by credit rating agencies also weighed on the sentiment.
U.S. Steel (X) is running a transformation strategy called “Carnegie Way.” It accounted for a large portion of the firm’s 3Q15 earnings conference call.
The Deutsche Latin America Equity Fund Class A seeks long-term growth by focusing on bottom-up research, growth-orientation, and regional theme analysis.
ArcelorMittal has a steep debt repayment schedule for the next three years and could face refinancing risk if steel market conditions continue to worsen.
Nucor’s Steel Products segment’s pre-tax profit margins improved in 2Q15. Shipments fell by ~3% YoY, but average steel selling prices have been stable.
Brazil (EWZ) is in a state popularly known as “stagflation.” The economy is characterized by low growth, high unemployment levels, and a rising inflation rate.
During Rousseff’s first four years of service, the Brazilian economy witnessed a marked slowdown. The Petrobras scandal was associated with Rousseff’s first term.
Nucor is a market leader in the construction industry, particularly in rebar. In 2015, it will raise automotive shipments by 20%, a key long-term driver.
The Brazilian real underwent massive depreciation of 1.89% against the US dollar on September 10 after the country’s credit rating went from “investment-grade” to “junk” status the night before.
The Brazilian real gained against the US dollar on September 3, 2015, after the Central Bank of Brazil announced the previous day that it will keep interest rates on hold.
Operating cash flow is generated by a company’s core operations. In the last two quarters, U.S. Steel has reined in its working capital and posted a positive operating cash flow.
Commodity-rich Brazil happens to be one of the important emerging markets (EEM) of the world. However, declining commodity prices are impacting Brazil’s exports.
An increase in architectural billings means more buildings are expected to go up. Higher construction activity leads to higher demand for aluminum .products.
Steel Dynamics’ fabrication operations delivered record earnings in the quarter. The segment’s performance has improved significantly over the last few quarters.
CISA expects Chinese steel demand to fall 6% this year. CISA’s view is much more pessimistic than the World Steel Association, which expects Chinese steel consumption to decline only ~0.5% this year.
This is the first time since December 2013 that building sales have increased on an annual basis. In April, China’s building sales contracted to -3.1% YoY.
A low capacity utilization rate increases competition between existing industry players. This pressures steel prices as producers try to increase sales.
AK Steel’s higher profits are largely due to higher shipments from its Dearborn Works facility. Dearborn also negatively impacted AK Steel’s profit margins.
US Steel’s (X) pension plan was overfunded by $223 million at the end of 2007. But in 2009, the company’s pension plan was underfunded by a whopping $1.7 billion.
