Forwarded from 연수르 해외주식
- 오바마가 2010년에 관련 정책 정립한 후 13년만에 처음 나온 정책이며, 바이든 행정부에서 가전제품 관련해서 나온 법안 중 가장 큰 규제. 통과될 경우 29년부터 온수기 업체들은 새로운 효율성 기준에 부합하는 온수기 제품만 판매 가능.
- 새로운 기준에 따르면 저장식 전기온수기는 히트펌프를 사용해야하고, 순간식 가스온수기는 콘덴싱 기술을 사용해야함. 이를 통해 30년간 이산화탄소 5.01억 meter ton 감축.
- 현재 미국 온수기 시장은 총 1,200만 대 규모 = 저장식 전기온수기 600만대 + 순간식 가스온수기 200만대(이 중 콘덴싱이 100만대) + 저탕식 가스온수기 400만 대
- 저장식은 물을 저장해두고 쓰는 방식으로 효율성이 떨어져, 기존에도 보다 효율성이 높은 순간식, 그 중에서도 콘덴싱 온수기로 전환 진행 중. 한국의 경동나비엔이 북미 콘덴싱 온수기 시장 점유율 40%로 1위.
https://nypost.com/2023/07/23/biden-administration-proposes-clamp-down-on-home-water-heaters/amp/
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New York Post
GOP lawmakers slam Biden administration’s proposed clamp down on home water heaters
Water heaters could soon be subject to much more stringent efficiency requirements if a recent Department of Energy proposal goes into effect.
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연수르 해외주식
최근 기사 가장 잘 정리해주신 분이네요. 순간식 콘덴싱 가스온수기가 없던 시장인데 나비엔이 개척해서 100만대 수준의 카테고리로 만들었습니다. 이제 순간식 가스온수기가 전부 콘덴싱이 의무화되면 이것만 해도 시장이 2배로 커지겠네요.
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GM 실적 컨퍼런스 콜 개인적인 발췌
We have experienced unexpected delays in the ramp because our automation equipment supplier has been struggling with delivery issues that are constraining module assembly capacity. We are working on multiple fronts to put this behind us as quickly as possible and things are already improving.
램프업을 하는데 자동화 장비와 조립 설비에서 일부 지연이 발생했다고 합니다.
Total U.S. dealer inventory was 428,000 units at quarter end, essentially flat from last quarter. We are still targeting the end 2023 with 50 to 60 days of total dealer inventory, although seasonality, production schedules, and timing of fleet deliveries may test out of this range from time to time.
재고는 여전히 안정적이고 수요도 좋아서 전반적으로 동사나 딜러 모두 건전한 재고자산 회전율을 보이고 있습니다.
We are still targeting the end 2023 with 50 to 60 days of total dealer inventory, although seasonality, production schedules, and timing of fleet deliveries may test out of this range from time to time.o I think we've got the pricing strategy right. It's contemplated a guidance raise itself. It wasn't contemplated as we came into the year.
가격 인하 관련된 질문이 많았습니다. 회사는 2025년 로우싱글 마진 정책에 변함이 없다는 입장입니다. 콜로라도 등 기존 고객 층의 충성도가 높아서 걱정하는 않는다는 표현이 많았습니다.
Q. I'm sorry, just one housekeeping question. The 792 charge for the LG issue, was that contemplated in your initial guidance? Because if it wasn't, it's actually -- the raise today is more like a $1.8 billion raise in the outlook. I'm just trying to understand if you were contemplating that before?
A. It's contemplated a guidance raise itself. It wasn't contemplated as we came into the year.
이부분도 질문이 많았는데요, LG엔솔과 리콜에 대응하는 금액에 대한 가이던스가 연초 계획대비 좀 늘었습니다. 엔솔 실적발표에서도 확인해봐야겠습니다.
We have experienced unexpected delays in the ramp because our automation equipment supplier has been struggling with delivery issues that are constraining module assembly capacity. We are working on multiple fronts to put this behind us as quickly as possible and things are already improving.
램프업을 하는데 자동화 장비와 조립 설비에서 일부 지연이 발생했다고 합니다.
Total U.S. dealer inventory was 428,000 units at quarter end, essentially flat from last quarter. We are still targeting the end 2023 with 50 to 60 days of total dealer inventory, although seasonality, production schedules, and timing of fleet deliveries may test out of this range from time to time.
재고는 여전히 안정적이고 수요도 좋아서 전반적으로 동사나 딜러 모두 건전한 재고자산 회전율을 보이고 있습니다.
We are still targeting the end 2023 with 50 to 60 days of total dealer inventory, although seasonality, production schedules, and timing of fleet deliveries may test out of this range from time to time.o I think we've got the pricing strategy right. It's contemplated a guidance raise itself. It wasn't contemplated as we came into the year.
가격 인하 관련된 질문이 많았습니다. 회사는 2025년 로우싱글 마진 정책에 변함이 없다는 입장입니다. 콜로라도 등 기존 고객 층의 충성도가 높아서 걱정하는 않는다는 표현이 많았습니다.
Q. I'm sorry, just one housekeeping question. The 792 charge for the LG issue, was that contemplated in your initial guidance? Because if it wasn't, it's actually -- the raise today is more like a $1.8 billion raise in the outlook. I'm just trying to understand if you were contemplating that before?
A. It's contemplated a guidance raise itself. It wasn't contemplated as we came into the year.
이부분도 질문이 많았는데요, LG엔솔과 리콜에 대응하는 금액에 대한 가이던스가 연초 계획대비 좀 늘었습니다. 엔솔 실적발표에서도 확인해봐야겠습니다.
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Alphabet 컨퍼런스콜 CapEx 부분
Finally, as it relates to CapEx, in Q2, the largest component was for servers, which included a meaningful increase in our investments in AI compute.
In terms of CapEx, I tried to lay out sort of the cadence of CapEx, and the point was an important one that the sequential step up in the second quarter was lower than anticipated for the 2 reasons I noted: one, the work that we're doing around office facilities; and then the delays in certain data center construction projects. That's why we wanted to be really clear that we do expect elevated levels of investment in our technical infrastructure, and that would be increasing through the back half of 2023, consistent with the comments we've made previously that we expected 2023 to be higher given the slower start at the front half of the year and then continuing to grow into 2024.
CapEx 부문만 보면, 2분기에 일부 데이터센터의 투자가 하반기로 이연된 것 같습니다. 알파벳이 작년말부터 강조하고 있는 부분은 오프라인 오피스와 관련된 부분을 줄여서 AI와 관련된 투자를 늘리겠다는 것입니다. 상반기보다 하반기의 투자 금액이 늘어나고 2024년에도 더 늘어날 것이라고 밝혔습니다.
Finally, as it relates to CapEx, in Q2, the largest component was for servers, which included a meaningful increase in our investments in AI compute.
In terms of CapEx, I tried to lay out sort of the cadence of CapEx, and the point was an important one that the sequential step up in the second quarter was lower than anticipated for the 2 reasons I noted: one, the work that we're doing around office facilities; and then the delays in certain data center construction projects. That's why we wanted to be really clear that we do expect elevated levels of investment in our technical infrastructure, and that would be increasing through the back half of 2023, consistent with the comments we've made previously that we expected 2023 to be higher given the slower start at the front half of the year and then continuing to grow into 2024.
CapEx 부문만 보면, 2분기에 일부 데이터센터의 투자가 하반기로 이연된 것 같습니다. 알파벳이 작년말부터 강조하고 있는 부분은 오프라인 오피스와 관련된 부분을 줄여서 AI와 관련된 투자를 늘리겠다는 것입니다. 상반기보다 하반기의 투자 금액이 늘어나고 2024년에도 더 늘어날 것이라고 밝혔습니다.
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한화에어로스페이스가 호주 육군의 요구에 맞춰 개발한 보병전투장갑차 '레드백'의 호주 수출이 확정됐습니다.
수출 품목은 장갑차 129대로 약 10조 원 규모에 달합니다.
https://n.news.naver.com/mnews/article/057/0001758846
수출 품목은 장갑차 129대로 약 10조 원 규모에 달합니다.
https://n.news.naver.com/mnews/article/057/0001758846
Naver
[단독] 한화에어로, 129대 장갑차 '레드백' 수출 성사
한화에어로스페이스가 호주 육군의 요구에 맞춰 개발한 보병전투장갑차 '레드백'의 호주 수출이 확정됐습니다. 수출 품목은 장갑차 129대로 약 2조 원대 규모에 달합니다. 군 관계자에 따르면 "한국 방위 회사인 한화가
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IH Research
한화에어로스페이스가 호주 육군의 요구에 맞춰 개발한 보병전투장갑차 '레드백'의 호주 수출이 확정됐습니다. 수출 품목은 장갑차 129대로 약 10조 원 규모에 달합니다. https://n.news.naver.com/mnews/article/057/0001758846
이게 원문인거 같습니다.
https://www.afr.com/politics/federal/koreans-beat-germans-to-win-armoured-troop-carrier-deal-20230726-p5drc2
https://www.afr.com/politics/federal/koreans-beat-germans-to-win-armoured-troop-carrier-deal-20230726-p5drc2
Australian Financial Review
Koreans beat Germans to win armoured troop carrier deal
Korean firm Hanwha has been selected ahead of Germany’s Rheinmetall for a multi-billion dollar contract to build 129 Redback armoured vehicles.
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[META 실적발표 중에서]
The reduced forecast that we gave for '23, I mentioned on the call, is driven both by some cost savings, particularly on non-AI servers, where were -- we previously had some underutilized capacity, and we've been identifying ways to be more efficient in the way that we allocate that capacity towards all of our various needs, as well as shifts in CapEx into 2024 that's coming from delays in data center projects and server deliveries. And that will just push that associated CapEx, which we were planning for in '23 into '24.
'23년에는 자원의 효율적 배분에 집중하였으며, 비용절감은 AI 서버에 대한 투자를 제외한 부분에서 이루어졌다. 이부분은 '24년에 투자가 이루어질 것이다.
We're still working on our '24 CapEx plans. We haven't yet finalized that, and we'll be working on that through the course of this year. But I mentioned that we expect that CapEx in '24 will be higher than in '23. We expect both data center spend to grow in '24 as we ramp up construction on sites with the new data center architecture that we announced late last year.
'24년의 CapEx는 아직 확정 전이지만 '23년대비 금액은 늘어난다. 기존의 데이터센터와 작년에 발표한 새로운 지역에 데이터센터 아키텍처에 대한 투자가 일어날 것이다.
The reduced forecast that we gave for '23, I mentioned on the call, is driven both by some cost savings, particularly on non-AI servers, where were -- we previously had some underutilized capacity, and we've been identifying ways to be more efficient in the way that we allocate that capacity towards all of our various needs, as well as shifts in CapEx into 2024 that's coming from delays in data center projects and server deliveries. And that will just push that associated CapEx, which we were planning for in '23 into '24.
'23년에는 자원의 효율적 배분에 집중하였으며, 비용절감은 AI 서버에 대한 투자를 제외한 부분에서 이루어졌다. 이부분은 '24년에 투자가 이루어질 것이다.
We're still working on our '24 CapEx plans. We haven't yet finalized that, and we'll be working on that through the course of this year. But I mentioned that we expect that CapEx in '24 will be higher than in '23. We expect both data center spend to grow in '24 as we ramp up construction on sites with the new data center architecture that we announced late last year.
'24년의 CapEx는 아직 확정 전이지만 '23년대비 금액은 늘어난다. 기존의 데이터센터와 작년에 발표한 새로운 지역에 데이터센터 아키텍처에 대한 투자가 일어날 것이다.
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[ENOVIX 실적발표]
일전에 한번 포스팅했었던 ENVX가 실적발표를 했습니다.
1. 2분기에 기존 계획 18,000개 대비 25% 더 많은 22,502개를 생산
2. $70mil. 을 말레이시아에 펀딩 받음
3. US Army 로부터 BrakeFlow 수주 받음
4. 마이크론과 퀄컴으로부터 CFO. CLO, VP 3명 영입함
5. 2022년에 샤오미, 비보, 레노보 등의 OEMs 과 폴드와 플립에 대해 협력중
6. 3분기에는 36,000개 생산 계획
7. 2분기 1만개 shipment했으며 이에 대한 매출은 $42,000
https://ir.enovix.com/news-releases/news-release-details/enovix-announces-second-quarter-2023-financial-results
일전에 한번 포스팅했었던 ENVX가 실적발표를 했습니다.
1. 2분기에 기존 계획 18,000개 대비 25% 더 많은 22,502개를 생산
2. $70mil. 을 말레이시아에 펀딩 받음
3. US Army 로부터 BrakeFlow 수주 받음
4. 마이크론과 퀄컴으로부터 CFO. CLO, VP 3명 영입함
5. 2022년에 샤오미, 비보, 레노보 등의 OEMs 과 폴드와 플립에 대해 협력중
6. 3분기에는 36,000개 생산 계획
7. 2분기 1만개 shipment했으며 이에 대한 매출은 $42,000
https://ir.enovix.com/news-releases/news-release-details/enovix-announces-second-quarter-2023-financial-results
Enovix
Enovix Announces Second Quarter 2023 Financial Results | Enovix
FREMONT, Calif., July 26, 2023 (GLOBE NEWSWIRE) -- Enovix Corporation (“Enovix”) (Nasdaq: ENVX), an advanced silicon battery company, announced today financial results for the second quarter of 2023, which included the summary below from its President and…
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포르쉐가 추가 공장 건설에 시동을 걸며 LG에너지솔루션이 파트너사로 거론된다. LG에너지솔루션은 포르쉐의 첫 전기차 모델인 타이칸에 배터리를 공급했다. 1회 완충 시 약 402㎞(약 250마일)를 주행할 수 있는 92.5kWh급 파우치형 배터리를 납품한 것으로 알려졌다.
https://www.theguru.co.kr/news/article.html?no=57444
https://www.theguru.co.kr/news/article.html?no=57444
www.theguru.co.kr
[더구루] 포르쉐, 북미 배터리 합작사 설립 추진...LG엔솔에 무게
[더구루=오소영 기자] 포르쉐가 최대 4조원 이상 투자해 20GWh 규모의 전기차 배터리 공장 건설을 추진한다. 북미 투자가 유력시되고 있다. 포르쉐에 배터리를 공급해 온 LG에너지솔루션과 협력할 가능성이 제기된다. 독일 자동차 전문지 아우토모빌보헤(Automobilwoche) 등 외신에 따르면 루츠 메쉬커 포르쉐 최고재무책임자(CFO)는 지난 26일(현지
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또 서프라이즈 RCL (pre +9%)
Royal Caribbean Cruises (NYSE:RCL): Q2 Non-GAAP EPS of $1.82 beats by $0.24.
Revenue of $3.52B (+61.5% Y/Y) beats by $110M.
Q3 Outlook: Net Yields are expected to increase 13.5% to 14.0% in Constant-Currency (14.0% to 14.5% As-Reported), compared to the third quarter of 2019.
source: Seeking alpha
Royal Caribbean Cruises (NYSE:RCL): Q2 Non-GAAP EPS of $1.82 beats by $0.24.
Revenue of $3.52B (+61.5% Y/Y) beats by $110M.
Q3 Outlook: Net Yields are expected to increase 13.5% to 14.0% in Constant-Currency (14.0% to 14.5% As-Reported), compared to the third quarter of 2019.
source: Seeking alpha
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[Ford 실적발표_하이브리드?]
We have the flexibility to offer customers choice of ICE, hybrids and full electrics in the years to come. Our hybrid offerings are extremely popular. F-150 is the best-selling vehicle in the U.S. for 46 years, 10% of all F-150s and 56% of all Mavericks sold in the U.S. are sold as hybrids. We are adding hybrid options across our each lineup, and we expect to quadruple our hybrid sales in the next 5 years, and we're already #2 in the market last year.
가장 특이했던 점은 하이브리드에 대한 언급이었던 거 같습니다. 2026년 EBIT 8%의 타겟은 그대로 두기 때문에 이를 달성하기 위해서 유연한 전략을 취하겠다는 것입니다.
While EV adoption is still growing, the paradigm has shaped. EV price premiums over internal combustion vehicles fell more than $3,000 in the second quarter and nearly $5,000 in first half. We expect the EV market to remain volatile until the winners and losers shake out, and we are confident from a brand, from our incredible product strategy, our software, our scale and our cost position, we will be one of the winners on firm.
포드가 EV 전략을 포기하는것을 의미하지는 않는 거 같습니다. 다만 현재 EV 시장에서 무리한 가격 경쟁을 하기 보다는, 지금 공헌 이익이 높은 모델의 비중을 유연하게 늘려서 좀 더 장기적인 방향을 제시하는 것으로 생각됩니다.
We have the flexibility to offer customers choice of ICE, hybrids and full electrics in the years to come. Our hybrid offerings are extremely popular. F-150 is the best-selling vehicle in the U.S. for 46 years, 10% of all F-150s and 56% of all Mavericks sold in the U.S. are sold as hybrids. We are adding hybrid options across our each lineup, and we expect to quadruple our hybrid sales in the next 5 years, and we're already #2 in the market last year.
가장 특이했던 점은 하이브리드에 대한 언급이었던 거 같습니다. 2026년 EBIT 8%의 타겟은 그대로 두기 때문에 이를 달성하기 위해서 유연한 전략을 취하겠다는 것입니다.
While EV adoption is still growing, the paradigm has shaped. EV price premiums over internal combustion vehicles fell more than $3,000 in the second quarter and nearly $5,000 in first half. We expect the EV market to remain volatile until the winners and losers shake out, and we are confident from a brand, from our incredible product strategy, our software, our scale and our cost position, we will be one of the winners on firm.
포드가 EV 전략을 포기하는것을 의미하지는 않는 거 같습니다. 다만 현재 EV 시장에서 무리한 가격 경쟁을 하기 보다는, 지금 공헌 이익이 높은 모델의 비중을 유연하게 늘려서 좀 더 장기적인 방향을 제시하는 것으로 생각됩니다.
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북미 온수기 1위 업체 A.O. Smith 2분기 실적 발표 내용에 대해서 정리해 보았습니다. 국내 온수기 수출 업체 분석에 참고하시기 바랍니다.
https://blog.naver.com/ihresearch/223170136203
https://blog.naver.com/ihresearch/223170136203
NAVER
A.O. Smith- 북미 온수기 1위 업체 2Q23 실적발표
2Q23 실적발표
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팍스콘은 인도로
Taiwan's Foxconn has signed an agreement with India's Tamil Nadu to invest 16 billion rupees ($194 million) in a new electronic components manufacturing facility
https://www.reuters.com/markets/deals/foxconn-unit-sign-194-mln-components-plant-deal-with-indias-tamil-nadu-source-2023-07-31/
Taiwan's Foxconn has signed an agreement with India's Tamil Nadu to invest 16 billion rupees ($194 million) in a new electronic components manufacturing facility
https://www.reuters.com/markets/deals/foxconn-unit-sign-194-mln-components-plant-deal-with-indias-tamil-nadu-source-2023-07-31/
Reuters
Foxconn to invest $194 million in new plant in India's Tamil Nadu
Taiwan's Foxconn has signed a deal with Tamil Nadu to invest 16 billion rupees ($194 million) in a new electronic components manufacturing facility that will create 6,000 jobs, the government of the southern Indian state said on Monday.
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Onsemi 2Q23 Earning surprise
- Q2 Non-GAAP EPS of $1.33 beats by $0.12.
-Revenue of $2.09B (flat Y/Y) beats by $70M.
- Record Automotive revenue exceeded $1 billion increased 35% year-over-year
- Industrial revenue of $609.3 million increased 5% year-over-year
- Q2 Non-GAAP EPS of $1.33 beats by $0.12.
-Revenue of $2.09B (flat Y/Y) beats by $70M.
- Record Automotive revenue exceeded $1 billion increased 35% year-over-year
- Industrial revenue of $609.3 million increased 5% year-over-year
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퀄중이라는거 같긴 하지만 결과가 잘되기를 바래봅니다. 오늘은 AMD가 실적발표를 합니다.
https://n.news.naver.com/article/015/0004875020?sid=101
https://n.news.naver.com/article/015/0004875020?sid=101
Naver
삼성, 엔비디아에 'HBM 패키징' 공급한다
삼성전자가 미국 반도체 기업 엔비디아에 그래픽처리장치(GPU)의 필수 부품인 고대역폭메모리(HBM)와 첨단패키징 서비스를 함께 공급한다. 엔비디아가 기존 공급사인 TSMC에 대한 의존도를 낮추고 생산 시간·비용을 줄
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캐터필라 어닝 서프라이즈
- EPS of $5.55 beats by $0.97.
- Revenue of $17.3B (+21.8% Y/Y) beats by $770M
https://seekingalpha.com/news/3993979-caterpillar-non-gaap-eps-of-555-beats-by-097-revenue-of-173b-beats-by-770m
- EPS of $5.55 beats by $0.97.
- Revenue of $17.3B (+21.8% Y/Y) beats by $770M
https://seekingalpha.com/news/3993979-caterpillar-non-gaap-eps-of-555-beats-by-097-revenue-of-173b-beats-by-770m
Seeking Alpha
Caterpillar Non-GAAP EPS of $5.55 beats by $0.97, revenue of $17.3B beats by $770M
Caterpillar press release (CAT): Q2 Non-GAAP EPS of $5.55 beats by $0.97.Revenue of $17.3B (+21.8% Y/Y) beats by $770M.Adjusted operating profit margin was 21.3% for the second...
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