guvendemir Espey Manufacturing & Electronics Corp. (NYSE: ESP ) is a maker of power supplies, converters, transformers, and related products, used particularly in defense vehicles and railroads. The company has been growing recently, in line with higher spending on U.S. defense. Coupled with cost efficiencies, the company’s profits have soared. However, current stock prices imply significant growth and further margin improvements. Although the company’s revenues provide some future visibility because of backlogs and their close correlation with defense spending, growth is risky because the market is very competitive. Most importantly, the company is priced for growth, meaning that if it grows, the investor is left with an adequate return, but not if it does not grow. This is not an asymmetric bet and therefore does not represent an opportunity. Note: Unless otherwise stated, all information has been obtained from ESP’s filings with the SEC . Business description Power systems for defense vehicles : ESP designs and manufactures power components (converters, transformers, supplies, UPS) used mostly in military vehicles. The company also sells to the railway industry and does not disclose segment figures, but a revision of its products reveals that the enormous majority is related to military applications. Small […]
Atle Eide: Salmon farming is becoming Norway’s ‘lost opportunity’
The following is an opinion piece written by the chairman of SalMar Aker Ocean, Atle Eide, originally appearing in Norwegian on IntraFish.no . More and more salmon and trout are squeezed into too small of an area. The number of exposed smolt in 2022 increased by 5.8 percent, while the permit volume (area) increased by 1.5 percent. The same figures for the previous year were 3.5 percent and 1.5 percent. The effect is increased costs, high mortality and aggressive lice attacks. After the figures for the fourth quarter were presented, several equity analysts believe salmon farming costs should decrease. "It will be better next year" was the refrain. The fact is, it’s getting worse. Here are the world’s biggest land-based salmon farming projects The production cost of salmon has increased every year since 2010, except for 2012, where there was a marginal decrease. In 2022 — based on early estimates — it will reach an all-time high. If these biological challenges continue, it will soon be more cost-effective to produce salmon in land-based systems. In the large growth markets that require air transport, land-based production will also be more environmentally friendly. If I were Norway’s prime minister, this development […]
RETAIL OPPORTUNITY INVESTMENTS CORP : Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant, Financial Statements and Exhibits (form 8-K)
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. Unsecured Revolving Credit Facility Amendment On March 2, 2023, Retail Opportunity Investments Corp. (the "Company"), as parent guarantor, and Retail Opportunity Investments Partnership, LP (the "Operating Partnership"), the operating partnership subsidiary of the Company, as borrower, entered into the Third Amendment to Second Amended and Restated Credit Agreement with KeyBank National Association, as Administrative Agent (the "Administrative Agent"), and the other lenders party thereto (the "Credit Agreement Amendment"), which amends the Second Amended and Restated Credit Agreement, dated as of September 8, 2017, as amended (the "Credit Agreement"), by and among the Company, as parent guarantor, the Operating Partnership, as borrower, KeyBank National Association, as Administrative Agent, Swing Line Lender and L/C Issuer, PNC Bank National Association and U.S. Bank National Association, as Co-Syndication Agents and the other lenders party thereto. Pursuant to the Credit Agreement Amendment, the lenders agreed to, among other things, (i) extend the Initial Maturity Date (as defined in the Credit Agreement) to March 2, 2027, (ii) transition the interest rate to the Secured Overnight Financing Rate ("SOFR"), and (iii) adjust the existing pricing grid and […]
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IBEX Limited: No Buying Opportunity Right Now
visualspace/E+ via Getty Images IBEX Limited (NASDAQ: IBEX ) offers complete, technology-enabled customer lifecycle experience options both nationally and globally. Ibex Connect, part of their portfolio of goods and services, offers customer support, revenue generation, and other back-office outsourcing services using the CX model, which combines email, SMS, and other communication apps; ibex digital, a client acquisition strategy that combines platform and e-commerce technology solutions; and ibex CX, a client experience solution that provides exclusive software tools to track and control the customer experience for its clients. They serve banking and financial services, health tech wellness, retail and e-commerce, and travel and hospitality. They recently posted Q2 FY23 results . They saw an increase in revenues, but their net income fell significantly. I’ll discuss its future growth potential and analyze its financial performance in this report. IBEX does not appear to be a good purchase right now, and I will explain why in this report. I give IBEX a hold rating. Financial Analysis IBEX recently posted Q2 FY23 results . The revenue for Q2 FY23 was $139.4 million, a rise of 5.45% compared to Q2 FY22. The growth in revenue from BPO 2.0 clients, as well as increases in […]
Comsol sees big opportunity in private 5G in South Africa
Comsol CEO Iain Stevenson Comsol Networks, a telecommunications company 40% owned by Andile Ngcaba’s Convergence Partners and 25% by Nedbank Private Equity, is using its access to prime radio frequency spectrum bands to build private 5G networks for enterprise customers – and the company sees this as a lucrative and growing opportunity in telecoms in South Africa. Unlike MTN, Vodacom, Rain and Telkom, which are building 5G networks for both businesses and consumers, Comsol’s 5G deployments – in mines and manufacturing enterprises, for example – are for private commercial use. In an interview with TechCentral on Monday, Comsol CEO Iain Stevenson said the company, which spent several years building an enterprise-focused fixed-wireless access (FWA) network using 336MHz of bandwidth in so-called millimetre-wave spectrum at 28GHz, has also begun deploying private networks for enterprises in the 3.7GHz band. Comsol secured access to 60MHz at 3.7GHz in 2021 from communications regulator Icasa, along with four other small telecoms operators, a move that drew some criticism of the regulator . We have been very cautious about which part of the market we tackle, and to stick to our knitting Stevenson said Comsol has no interest in competing with the big mobile operators […]
Is There An Opportunity With Ford Motor Company’s (NYSE:F) 26% Undervaluation?
Key Insights Ford Motor’s estimated fair value is US$17.66 based on 2 Stage Free Cash Flow to Equity Ford Motor’s US$12.98 share price signals that it might be 26% undervalued Analyst price target for F is US$14.29 which is 19% below our fair value estimate Today we will run through one way of estimating the intrinsic value of Ford Motor Company ( NYSE:F ) by taking the forecast future cash flows of the company and discounting them back to today’s value. Our analysis will employ the Discounted Cash Flow (DCF) model. There’s really not all that much to it, even though it might appear quite complex. We generally believe that a company’s value is the present value of all of the cash it will generate in the future. However, a DCF is just one valuation metric among many, and it is not without flaws. If you still have some burning questions about this type of valuation, take a look at the Simply Wall St analysis model . Check out our latest analysis for Ford Motor The Method We are going to use a two-stage DCF model, which, as the name states, takes into account two stages of growth. The […]
Hartford’s urban farmers grow produce and opportunity
The Keney Park Sustainability Project on Windsor Avenue is where many of the farmers involved in the urban farming initiative got their start. HARTFORD — Sarah Rose and Azeem Kareem of Windsor both have found solace in soil. Sarah Rose Kareem worked at a farm in Granby for about seven years and eventually, with the help of her husband, formed an organization to educate diverse communities about farming. Azeem Kareem had one particular diverse community in mind. "She was the one who had all the all the experience and the know-how because she worked in those areas," Azeem Kareem said. "She had the resources, the connections to those areas. And I was an entryway into the hood, to the urban areas around Hartford." Azeem Kareem lived in Hartford for about half of his life and is familiar with the city and some of its challenges. He said farming can be particularly healing for Black communities. "There’s so much similarity between us and the plants," Azeem Kareem said. "So it’s really just bridging that that mental gap because after slavery was over, they removed all the land from us. They tried to force us into the factories. The only thing […]
SPINS: The opportunity for Active Nutrition is golden right now
Speaking with NutraIngredients-USA during our recent Sports & Active Nutrition Summit in San Diego, Dicker said: “[Active Nutrition] is really an exciting category because the demographic is expanding. This is a category that has traditionally been young male focused, gym focused, and we’re seeing it leave the gym and expand to all demographics. There are very few categories that have that kind of potential. “It was already a fairly large category just with the limited demographic, so as we see this expansion the opportunity is really golden right now for a renewed surge,” he added. “You see this in both the incorporation of sports nutrition attributes into every aisle and still the core categories are seeing a lot of growth.” Dicker said that the performance supplement space has been the number one category in all supplements for growth over the past two years. He also said that the pandemic, while chilling the category as gyms closed, also acted as an opportunity for new consumers to explore the category as these new people transitioned from immune products to other supplement spaces. Creatine In addition to his bullishness about the overall category, Dicker is also very excited about Creatine, an […]
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Ep. 7: Flexible work and well-being in rural health care
Episode Transcript Reimagining Rural Health | Sanford Health News Ep. 7: Flexible work and well-being in rural health care Matt Holsen (host): Hello and welcome to the “ Reimagining Rural Health ” podcast series brought to you by Sanford Health . In this series, we explore the challenges facing health care systems across the country from improving access to equitable care, building a sustainable workforce, and discovering innovative ways to deliver high quality, low-cost services in rural and underserved populations. Each episode examines how Sanford Health and other health systems are advancing care for the unique communities they serve. Today’s topic is a conversation around workforce challenges and solutions. Our guest is Ashley Wenger-Slaba, vice president of employee experience at Sanford Health. Our moderator is Ann Nachtigal, director of Sanford Health News. Ann Nachtigal (moderator): Hello everyone and welcome to the “Reimagining Rural Health” podcast. We are talking today about workforce challenges and solutions. And joining me today, our guest is Ashley Wenger-Slaba. She is vice president of employee experience here at Sanford Health. Ashley, welcome. Thanks for joining us today. Ashley Wenger-Slaba (guest): Thank you, Ann. It’s great to be here. Ann Nachtigal (moderator): So vice president of […]
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ERI Partners with Opportunity Enterprises to Prepare Individuals with Disabilities for Electronic Recycling Industry Careers
PLAINFIELD, Ind., March 07, 2023 –( BUSINESS WIRE )– ERI , the nation’s largest fully integrated IT and electronics asset disposition provider and cybersecurity-focused hardware destruction company, is helping people with disabilities to enter the world of electronics recycling – thanks to a unique partnership with a non-profit organization called Opportunity Enterprises . Opportunity Enterprises (OE) works to maximize self-sufficiency and enrich the quality of life for individuals with disabilities. OE specializes in inclusivity training for employers and vocational training for employees of all abilities. ERI has established a partnership with OE to train job-seekers with varied abilities to work in the electronic recycling industry. For the program, ERI has established a dedicated training space in its state-of-the-art Plainfield, Indiana facility for this ongoing 10-12 week program. Graduates of the program will have the opportunity to work for ERI. OE’s new Corporate Inclusivity Consulting service will assist ERI with inclusivity training for employees and management to assist with integrating the new employees into ERI’s work environment. OE will also supervise job coaching for up to two years from date of hire to ensure successful outcomes. "Our mission has always been to leave the planet better than we found it," […]