28/09/2023 09:16

Reliance Worldwide Corp Ltd (RWC) $3.75

Plumbing business RWC advanced +1.9% on Wednesday, arresting some of the recent weakness. The company reported FY23 revenue of US1.24bn in August. However, guidance moving forward disappointed investors, with 2.7% pa growth anticipated over the next three years below expectations.

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03/08/2023 09:38

Reliance Worldwide Corp (RWC) $4.22

Plumbing business RWC rallied +1.4% yesterday making it the 3rd best-performing stock on the main board, in a similar fashion to REH it has rallied well through 2023.

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19/05/2023 09:02

Reliance Worldwide (RWC) $4.15

Best known for its iconic 'SharkBite' Push-To-Connect (PTC) fittings, Reliance Worldwide (RWC) is a major figure in the North American, UK and Australian plumbing markets. RWC has rallied over +40% year to date, although unrelated it looks very similar to the likes of Xero (XRO) and the NASDAQ on the charts.

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09/03/2023 09:11

Reliance Worldwide Corp (RWC) $3.62

Plumbing supplies group RWC has a large US presence which makes it more attractive to MM than its more domestically focused peers although both regions are likely to see ongoing weakness across the construction sector. • After correcting 58% from its 2021 high RWC is one of our preferred companies to position ourselves for an eventual upswing in construction.

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23/12/2022 09:28

Reliance Worldwide Corp Ltd (RWC) $2.86

This plumbing supply business has struggled since missing quarterly sales expectations in late October which was unfortunately also accompanied by downbeat rhetoric. This has been a tough year for stocks that have missed earnings but RWC is slowly but surely starting to scan cheaply with a valuation of 10.8x FY23 earnings plus an anticipated 5.8% yield over the next 12 months. 

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25/10/2022 16:57

Reliance Worldwide (RWC) $3.11

RWC -13.37%: Hit hard today after reporting weaker than expected quarterly sales while they talked to tougher and unpredictable conditions ongoing. The plumbing supply business that generates nearly 70% of its revenue from  the US saw volumes decline in all regions except Australia. While sales were up  +23% YoY and there were no changes to the key...

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07/10/2022 09:37

Reliance Worldwide Corp (RWC) $3.63

RWC is a supplier of plumbing parts making it dependent on the building industry for growth and profitability, we didn’t mind the Augusts result which showed net sales of $US1.17bn but the market slammed the stock due to a lack of certainty from management around what comes next. The good news for investors is we believe that RWC’s focus on repairs should position it better than many rivals through an economic downturn.

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22/08/2022 17:28

Reliance Worldwide (RWC) $4.23

RWC -6.21%: The supplier of plumbing parts was down as much as 10% at its worst today on a result that looked at least in line with expectations. Net sales of $US1.17bn were online with consensus while adjusted net profit of $137.4m was 2% lower than FY21 but in line with the $138m expected. They said that while the short-term outlook is "satisfactory" the medium...

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21/07/2022 08:59

Reliance Worldwide (RWC) $4.34

This plumbing business has been out of favour since late 2021 having endured a 48% correction with higher input costs plus the common concern around the strength of the consumer as interest rates rise weighing on the stock. With revenue estimated to grow by over 9% to $1.304bn in 2023 we feel the stocks fairly cheap on an Est P/E of 16.4x for 2022.

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12/04/2022 09:45

Reliance Worldwide (RWC) $3.91

Since the start of the year, RWC has fallen over 30% moving from a traditional ~10% premium to the ASX200 to a painful and out-of-character ~20% discount. The niche provider of plumbing fittings that are primarily used in ‘behind the wall’ systems has a flagship product called the Sharkbite which is a range of brass push-to-connect fittings. Towards the end of 2021 they made...

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