20/08/2024 16:38

Reliance Worldwide Corp (RWC) $5.10

Plumbing supplies business RWC rallied +8.9%, the most in six months, following a solid earnings beat. The company didn’t issue any guidance, but the beat plus a small $19.6mn buyback was enough to send the stock higher.

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20/06/2024 09:47

Reliance Worldwide Corp (RWC) $4.56

Major global plumbing company RWC fell 4% on Wednesday, and now trades over 20% below its March high. While the recovery in earnings demonstrated earlier in the year is not without risk, we see the majority of earnings drivers,  including margins and volumes, improving rather than declining for RWC.

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09/05/2024 09:01

Reliance Worldwide Corp (RWC) $5.02

Plumbing business RWC is offering solid value following its 15% correction, with earnings set to improve through better volumes and margins. Once the cycle turns, we believe the upside from the operating leverage should flow through, noting the 100-150bps EBITDA margin leverage to +5% volumes remains – volumes are currently 10-20% below normal across its various markets.

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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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