I nui ake te whiwhinga moni a Cleveland Cliffs (NYSE:CLF) i te hauwhā tuarua, engari i iti iho i tana whakatau tata EPS mā te -13.7%. He haumitanga pai ngā hea CLF?
I te rā nei, i pūrongo a Cleveland-Cliffs (NYSE:CLF) i ngā whiwhinga moni mō te hauwhā tuarua i mutu i te 30 o Hune, 2022. Ko te whiwhinga moni mō te hauwhā tuarua o te $6.3 piriona i nui ake i te matapae a ngā kaitātari FactSet o te $6.12 piriona, he pikinga 3.5% i te kore e tumanakohia. Ahakoa he iti iho te EPS o te $1.14 i te matapae whakaae o te $1.32, he rerekētanga pouri -13.7%.
Kua heke iho ngā hea o te kaihanga maitai Cleveland-Cliffs Inc (NYSE:CLF) neke atu i te 21% i tēnei tau.
Ko Cleveland-Cliffs Inc (NASDAQ: CLF) te kaihanga rino papatahi nui rawa atu i Amerika Te Raki. Ka tukuna e te kamupene ngā pire rino ki te umanga rino o Amerika Te Raki. Kei te mahi i te hanga konganuku me te kōka, te hanga rino, te maitai, ngā hua hurihuri me ngā whakaotinga, tae atu ki ngā wāhanga paipa, ngā tā me ngā taputapu.
Kua whakauruhia poutūtia te kamupene mai i ngā rauemi mata, te tango tika me te para ki te hanga maitai tuatahi me te whakaotinga i muri mai, te tā, te taputapu me ngā paipa.
I whakatūria a Cliffs i te tau 1847 hei kaiwhakahaere maina, kei Cleveland, Ohio tōna tari matua. E 27,000 pea ngā kaimahi o te kamupene i Amerika Te Raki.
Ko te kamupene hoki te kaiwhakarato rino nui rawa atu ki te umanga motuka i Amerika Te Raki. He maha atu anō ngā mākete e mahi ana ki a ia me te whānuitanga o ngā hua rino papatahi.
Kua whakawhiwhia a Cleveland-Cliffs ki ētahi tohu ahumahi rongonui mō āna mahi i te tau 2021, ā, i tū ko te 171 o ngā tohu i te rārangi Fortune 500 o te tau 2022.
I te rironga mai o ArcelorMittal USA me AK Steel (i panuitia i te tau 2020) me te otinga o te tipu whakaiti tika i Toledo, kua noho a Cleveland-Cliffs hei pakihi maitai kore waikura kua whakauruhia poutū.
Kei a ia te painga ahurei ināianei, arā, ko tōna tū motuhake, mai i te keri rauemi mata ki ngā hua maitai, ngā wāhanga ngongo, ngā tā me te mahi taputapu.
He rite tēnei ki ngā hua ā-haurua a te CLF, arā, $12.3 piriona te moni whiwhi me te $1.4 piriona te moni whiwhi kupenga. Ko ngā moni whiwhi mō ia hea kua whakatōtōtia he $2.64. Ki te whakatauritea ki ngā marama tuatahi e ono o te tau 2021, i whiwhi te kamupene i te $9.1 piriona te moni whiwhi me te $852 miriona te moni whiwhi kupenga, arā, $1.42 mō ia hea kua whakatōtōtia.
I ripoata a Cleveland-Cliffs i te $2.6 piriona i roto i te EBITDA kua whakatikatikaina mō te haurua tuatahi o te tau 2022, he pikinga mai i te $1.9 piriona i ia tau.
Ko ngā hua o ā mātou hua o te hauwhā tuarua e whakaatu ana i te whakatinanatanga tonu o tā mātou rautaki. Neke atu i te rua te pikinga o te rere o te moni kore utu i ia hauwhā, ā, i taea e mātou te whakatutuki i tā mātou whakahekenga nama hauwhā nui rawa atu mai i te tīmatanga o tā mātou panonitanga i ētahi tau kua pahure ake nei, me te whakaputa hoki i te hokinga mai o te hea mā te hoko hea.
E matapaetia ana ka haere tonu tēnei rerenga moni kore utu hauora i a tātou e tomo ana ki te haurua tuarua o te tau, nā te iti o ngā whakaritenga capex, te tere o te tukunga o te whakapaipai mahi me te nui o te whakamahinga o ngā kirimana hoko utu pumau. Hei tāpiri, e matapaetia ana ka piki ake ngā ASP mō ēnei kirimana pumau i muri i te tautuhi anō i te 1 o Oketopa.
$23 miriona, $0.04 rānei mō ia hea kua waimeha, te whakahekenga uara tere e pā ana ki te wā kore mutunga o te mahi whakangao o te tipu kōka o Middletown.
Ka whiwhi moni a Cleveland-Cliffs mā te hoko i ngā momo maitai katoa. Ina koa, ko ngā hua maitai hurihuri wera, hurihuri matao, pania, kowiri tira/hiko, pepa me ētahi atu. Ko ngā mākete whakamutunga e mahi ana ia ko ngā motuka, ngā hanganga me ngā mahi hanga, ngā kaituku me ngā tukatuka, me ngā kaihanga maitai.
Ko te nui o ngā hokonga maitai i te hauwhā tuarua he 3.6 miriona tāne, tae atu ki te 33% pania, 28% huri-wera, 16% huri-matao, 7% pereti taumaha, 5% maitai kore waikura me ngā hua hiko, me te 11% ētahi atu hua tae atu ki ngā pereti me ngā rēri.
Ka hokohokohia ngā hea CLF i te ōwehenga utu-ki-te-whiwhinga (P/E) o te 2.5, ki te whakataurite ki te toharite ahumahi o te 0.8. Ko tōna ōwehenga utu-ki-te-uara pukapuka (P/BV) o te 1.4 he teitei ake i te toharite ahumahi o te 0.9. Kāore ngā hea Cleveland-Cliffs e utu wehewehenga ki ngā kaipupuri hea.
Mā te ōwehenga Nama Kupenga ki te EBITDA ka kitea he whakaaro whānui mō te roa o te wā e utua ai e te kamupene āna nama. I heke te ōwehenga nama kupenga/EBITDA o ngā hea CLF mai i te 12.1 i te tau 2020 ki te 1.1 i te tau 2021. Ko te ōwehenga teitei i te tau 2020 i ahu mai i ngā hokonga. I mua atu i tēnā, i noho tonu ki te 3.4 mō ngā tau e toru karapīpiti. Nā te whakatikatika i te ōwehenga nama kupenga ki te EBITDA i whakamarie ngā kaipupuri hea.
I te hauwhā tuarua, ko te utu hoko maitai (COGS) i uru ki te $242 miriona o ngā whakapaunga tāpiri/kore-auau. Ko te wāhanga nui o tēnei e pā ana ki te whakawhānui ake i te wā kore mahi i Blast Furnace 5 i Cleveland, tae atu ki ngā whakatikatika tāpiri ki te tipu maimoatanga paru o te rohe me te tipu hiko.
I kite hoki te kamupene i ngā pikinga utu i ia toru marama, i ia tau hoki, i te pikinga hoki o ngā utu mō te hau maori, te hiko, te para me ngā koranu.
He wāhanga matua te rino o te whakawhiti pūngao o te ao, e whakarite ana i te pumau o ngā hea CLF i ngā rā kei te heke mai. He nui te rino e hiahiatia ana mō te whakaputanga o te pūngao hau me te pūngao rā.
Hei tāpiritanga, me whakahou ngā hanganga ā-rohe kia wātea ai te wāhi mō te kaupapa pūngao ma. He āhuatanga tino pai tēnei mō ngā hea o Cleveland-Cliffs, he nui te tūponotanga ka whai hua mai i te pikinga o te tono mō te maitai ā-rohe.
Ko tō mātou kaiārahi i roto i te umanga motuka te mea e wehewehe ana i a mātou i ngā kamupene rino katoa o te Hononga o Amerika. Ko te āhua o te mākete rino i roto i te tau me te haurua kua hipa ko te nuinga o te mea i akiakihia e te umanga hanga, engari kua roa te umanga motuka e noho whakamuri ana, ko te nuinga o te mea nā ngā take mekameka tuku kore-rino. Heoi, kua nui haere te hiahia o ngā kaihoko mō ngā motuka, ngā SUV me ngā taraka i te mea kua nui ake te hiahia mō ngā motuka i te hanga mō ngā tau e rua neke atu.
I a ā mātou kiritaki motuka e aro tonu ana ki ngā wero o te mekameka tuku, e piki haere ana te tono mō ngā waka hiko, ā, e hopukina ana e te hanga waka pāhihi, ka noho ko Cleveland-Cliffs te hunga whai hua nui o ia kamupene maitai o Amerika. I roto i te toenga o tēnei tau me te tau e tū mai nei, me mārama te rerekētanga nui i waenganui i tā mātou pakihi me ētahi atu kaihanga maitai.
I runga i te pihi hokohoko ā-mua o nāianei mō te tau 2022, ko te tikanga ko te utu toharite o te taupū HRC ka $850 mō ia tana kupenga i mua i te mutunga o te tau, ā, e matapaetia ana e Cleveland-Cliffs ko te utu hoko toharite i te tau 2022 ka tata ki te $1,410 mō ia tana kupenga. He pikinga nui tēnei o ngā kirimana utu pumau, e matapaetia ana e te kamupene ka whiriwhiria anō i te 1 o Oketopa, 2022.
He kamupene a Cleveland-Cliffs e pāngia ana e te tono hurihanga. Ko te tikanga o tēnei ka taea e āna moni whiwhi te piki me te heke, koia te take e pāngia ai te utu o ngā hea CLF e te piki me te heke.
Kei te neke haere ngā taonga i te pikinga o ngā utu nā te raruraru o te mekameka tuku i kino ake i te mate urutā me te pakanga i Ukraine. Engari inaianei kei te ara ake te mataku mō te paheketanga o te ao me te pikinga o ngā reiti huamoni, ā, ka kore e tino mārama te tono ā muri ake nei.
I ngā tau tata nei, kua whanake a Cleveland-Cliffs mai i tētahi kamupene rauemi mata kanorau ki tētahi kaihanga rino ā-rohe, ā, koinei te kaihanga nui rawa atu o ngā hua papatahi i te US me Kanata.
Mō ngā kaipupuri moni mō te wā roa, tera pea he ātaahua te āhua o ngā hea o Cleveland-Cliffs. Kua riro hei whakahaere kaha ka taea te tupu mō te wā roa.
Ko Rūhia me Ukraine ētahi o ngā whenua e rima o te ao e kaweake ana i te maitai. Heoi, kāore a Cleveland-Cliffs e whakawhirinaki ana ki tētahi o ēnei, ā, ka hoatu he painga ā-roto ki ngā hea o CLF i ōna hoa.
Heoi, ahakoa te koretake o te ao, he koretake ngā matapae mō te tipu ōhanga. I heke te whakapono ki te rāngai hangahanga i te mea kei te pēhia tonutia ngā hea taonga e ngā āwangawanga mō te hinganga o te ōhanga.
He pakihi hurihuri te umanga maitai, ā, ahakoa he kaha te whakapae mō tētahi atu pikinga o ngā hea CLF, kāore i te mōhiotia te heke mai. Ko te mea me haumi koe ki ngā hea Cleveland-Cliffs, kei tō hiahia mōrearea me te pae wā haumi.
Kāore tēnei tuhinga e whakarato ana i tētahi tohutohu pūtea, e taunaki ana rānei i te hokohoko i tētahi hea, i tētahi hua rānei. Tērā pea ka heke te uara o ngā haumitanga, ā, tērā pea ka ngaro i ngā kaipupuri moni ētahi, i te katoa rānei o ā rātou haumitanga. Ehara te mahi o mua i te tohu mō te mahi o muri mai.
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Kāore mātou i raro i te mana whakahaere a te Mana Whakahaere Pūtea. Kāore e whakaaetia kia tukuna he amuamu ki te Ratonga Kaitiaki Pūtea, kia tono utu rānei mai i te Kaupapa Utu Ratonga Pūtea. Ka piki, ka heke rānei te uara o ngā haumitanga katoa, nō reira ka ngaro pea ētahi, te katoa rānei o ō haumitanga. Ehara te mahi o mua i te tohu mō te mahi a meake nei.
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