25/10/2024 09:16

Brambles Ltd (BXB) $18.29

Global pallet giant BXB slipped 1.5% after 1Q24 sales growth came in below expectations, up 3% for the 1Q compared to FY25 guidance of 4-6%, not too bad compared to some we’ve witnessed.

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22/08/2024 09:32

Brambles Ltd (BXB) $17.12

BXB soared +9.25% on Wednesday, hitting all-time highs after the global pallet giant announced a $US500mn share buyback and lifted its dividend payout ratio to reflect the company's improved cash flow - BXB reported a 77% rise in annual free cash flow. Brambles has invested heavily in improving asset efficiency and rolling out tracking devices to identify bottlenecks, an initiative that is paying dividends.

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28/03/2024 09:38

Brambles Ltd (BXB) $16.08

Pallet business BXB has enjoyed the resilience demonstrated by global retailers over the last few years, and with interest rate cuts looking increasingly likely things look good for BXB. Our issue with BXB is around valuation, but as always, increasing earnings above current expectations generally solves that problem, while at this stage, the markets are comfortable with elevated valuations at this stage of the cycle.

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22/02/2024 09:16

Brambles Ltd (BXB) $15.25

Pallet business BXB has enjoyed the surprising strength across global retailers, and with rate cuts on the horizon; as discussed earlier, the macroeconomic backdrop is improving for BXB after it performed strongly when many thought it would struggle.

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07/09/2023 09:09

Brambles Ltd (BXB) $15.12

Australian pallet maker BXB surged after it delivered a lift in net profit of 10% to $US703.3mn in the 12-months ending June 30, the business successfully delivered significant prices rises (pricing power) to offset the consumer spending slowdown.

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30/08/2023 17:02

Brambles (BXB) $15.15

BXB +7.07%: The global supply chain business delivered a good result today, at the high end of their FY23 guidance range, benefitting from falling input costs (mainly lumber), solid pricing and a good mix of earnings drivers, while they talked to positive momentum and ongoing improvements operationally i.e. there was plenty to like in today’s update.

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14/07/2023 09:14

Brambles Ltd (BXB) $13.97

Global leader in the pallet rental market BXB has been an excellent performer over the last 12 months advancing over +50% helped by an FY23 guidance upgrade in the 2Q, and as supply chains pick up and pallet availability improves, BXB is in a good position, but on 20.3x Est FY’23 earnings it’s hard to get too excited, especially as the $US struggles. Also, we are cautious ahead of the company’s August results believing it's possible that earnings guidance for FY24 could start the year on a conservative note which the share price is unlikely to embrace i.e. under-promise and over-deliver.

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17/05/2022 17:12

Brambles (BXB) $10.72

BXB -7.59%: CVC Capital Partners has walked away from a potential bid for BXB today prompting the stock to fall. The private-equity firm told Brambles it “will not be putting forward a proposal nor seeking to conduct detailed due diligence at this time due to the current external market volatility,” Brambles said in a statement Tuesday. It was a quick dance between the two with some early discussions after BXB received...

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16/05/2022 17:05

Brambles (BXB) $11.60

BXB +11.22%: the logistics business confirmed it was engaged in takeover discussions with private equity outfit CVC today. Talks are in preliminary stages but media reports are suggesting a $13.9b bid is in play for the pallets business. Brambles has been searching for ways to unlock value in the business, recently completing a sizable buyback and looking to transform...

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29/04/2022 09:13

Brambles Ltd (BXB) $10.51

The world’s largest pallet provider BXB has struggled through COVID as increasing timber prices weigh on the business but the company is an obvious beneficiary of a post COVID economy which hopefully will soon see an end to supply chain constraints. The company is now in upgrade mode and we again feel its cheap trading around multi-year lows while delivering decent cash flow enabling the business to yield around 3%.

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