JBH -1.25%: shares initially traded to 8-month highs today following JBH’s record first-half sales update. Net sales are expected to rise 8.6% to $5.3b, while Net Profit for the first half is seen at ~$330m, up more than 14% vs 1H22. The CEO said easing COVID pressures and disruptions had contributed to improved margins while solid customer demand and a well-executed promotional period boosted sales. Shares traded as high as up 18% for the YTD early on before profit takers ultimately sent the stock lower into the afternoon.
MM is neutral JBH around $46
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