-- 獨立研究機構CFRA向提供了以下研究報告。 CFRA分析師的觀點摘要如下：亨利·謝恩公司公佈第一季調整後每股收益為1.32美元，較去年同期成長14.8%，高於市場預期0.10美元；總淨銷售額年增6.3%至33.68億美元。調整後營業利益率提升28個基點至7.53%，主要得益於全球分銷和技術部門的績效改善。我們認為牙科分銷業務的強勁表現令人鼓舞，全球牙科銷售額年增9.0%至17.66億美元，設備銷售額年增8.6%，儘管高利率環境對設備採購帶來壓力。考慮到買家面臨的融資限制，我們認為牙科設備年增8.6%是一個正面的訊號；而全球技術部門較去年同期成長7.0%則反映了診所管理解決方案的普及。管理層重申了2026年的銷售額、利潤率和每股收益預期。 HSIC 維持了其積極的資本回報策略，在第一季回購了 1.25 億美元的股票，授權範圍內還剩 6.55 億美元。
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Avista (AVA) reported Q1 earnings Tuesday, with electricity and natural gas volumes declining as milder weather reduced demand, with residential usage down 10% and commercial down 6%.The company reported total residential electricity sales through its operating unit, Avista Utilities, at 1.15 gigawatt-hours, down from 1.27 GWh a year earlier.Electricity sales to the commercial sector were 768 megawatt-hours for the quarter ended March 31, compared with 808 MWh a year earlier.The company reported industrial electricity sales for 455 MWh for the quarter, down from 469 MWh a year earlier, while wholesale sales were 912 MWh, down from 951 MWh a year earlier.The company reported total residential natural gas sales through its operating unit, Avista Utilities, of 8,490.7 billion British thermal units delivered, down from 9,888.1 billion Btu delivered a year earlier.Commercial natural gas sales were 5,116.1 billion Btu delivered for the quarter ended March 31, compared with 5,961.9 billion Btu delivered a year earlier.The company reported wholesale natural gas volumes of 5,446.1 billion Btu delivered in Q1, down from 6,752.8 billion Btu delivered a year earlier.Other natural gas volumes were 5,446.1 billion Btu delivered for the quarter, compared with 5,401.9 billion Btu delivered a year earlier.Avista is also advancing a new enterprise resource planning system targeted for completion in 2028, with estimated capital expenditures of about $130 million to enhance operational efficiency and financial reporting capabilities.Price: $40.81, Change: $+0.25, Percent Change: +0.62%
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Primo Brands' Q1 Faces Pressure From Service Disruptions, Cost Headwinds, RBC Says
Primo Brands (PRMB) is expected to face pressure in Q1 from extended service disruptions tied to winter storms and higher input costs linked to the Middle East conflict, RBC Capital Markets said in a note emailed Tuesday.The firm said Q1 is likely to be the weakest quarter of the year and could be further affected by lost or unrecoverable delivery sales from the winter storms.Retail business trends appear supportive, with sales growth of 6% in scanner data, RBC said, adding that the company has taken pricing on about 15% of its retail volume outside its core case pack business.Primo Brands also remains highly sensitive to petroleum-linked costs, including resin, glass, aluminum and diesel fuel, though it has significant hedge coverage in place for 2026 and levers such as pricing and fuel surcharges, the note said.Primo Brands is expected to report Q1 financial results on Thursday.RBC maintained its outperform rating on Primo Brands and kept its price target at $28.Price: $20.37, Change: $+0.27, Percent Change: +1.37%
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BioMarin Enters 'Transition Year' as Enzyme Portfolio Expands After Amicus Deal, Morgan Stanley Says
BioMarin Pharmaceutical (BMRN) is entering a "transition year" in 2026, prioritizing growth acceleration and market share gains as its expanded enzyme portfolio scales following the acquisition of Amicus Therapeutics (FOLD), Morgan Stanley said in a report Tuesday.In its Q1 results, BioMarin raised its fiscal 2026 revenue guidance to $3.825 billion to $3.925 billion, driven by contributions from newly added therapies Galafold and Pombiliti plus Opfolda, but lowered its non-GAAP earnings per share outlook to $4.85 to $5.05 due to integration-related costs and higher interest expenses, associated with the transaction, the report said.BioMarin is focused on scaling its expanded enzyme portfolio and driving commercial execution, with its management expected to outline a detailed roadmap in Q2 covering "long-term revenue potential," peak sales and cost synergies, the investment bank said.Earnings are expected to be weighted toward the second half of 2026, with the Amicus deal seen by the management as "slightly dilutive" this year but "accretive" within 12 months and more meaningful in start of 2027, the report said.The "combined enzyme portfolio" is expected to support durable growth and help offset rising competition for Voxzogo, while pipeline developments and new launches, including Palynziq expansion and BMN-333, could further support long-term growth, according to the report.Morgan Stanley has an overweight rating on BioMarin Pharmaceutical and lowered its price target to $119 from $120.Price: $54.26, Change: $-1.20, Percent Change: -2.16%
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