Conversion calendar in hand: management narrates the coming year as dated deliveries of business already secured
The model's full reasoning — Q3 2017 call → NOThe question asks whether management lays out a timetable of specific conversions—identified pieces of business already secured or in motion, each with timing—so the forward story reads as a schedule of things turning on. Let me review the transcript for forward-looking statements about the next four quarters or so. Key forward-looking statements: - David: "we've revised our full-year sales outlook to reflect the ongoing weakness in our categories. However, we're increasing our adjusted EPS and adjusted operating margin outlook, reflecting the strong profit performance in this past quarter, cost and expense actions that will help mitigate the additional top line softness we're expecting in the fourth quarter, and an improved outlook for tax." - Sandy: "we are revising our outlook for organic net sales to be down 1% to 2% for the year... This outlook reflects additional declines in Feminine Care and U.S. Wet Shave due to category softness and heightened competitive intensity, and it reflects the impact of lower Wet Shave net sales in Europe in the third quarter." - Sandy: "The Sun Care production move to our Dover plant is now complete, and we do not expect to incur material restructuring charges related to this project in fiscal 2018." - Sandy: "Our Zero Based Spend initiative remains on track to deliver an estimated $10 million to $15 million in net savings for fiscal 2017, and we continue to estimate, we can deliver $35 million to $45 million in net savings over 2017 and 2018 combined." - Sandy: "The ZBS spending and budgeting initiative will be fully embedded into the operating structure of the company as we move into 2018." The forward discussion is mostly about: - Revised sales outlook reflecting weakness - Cost savings from ZBS and restructuring - Tax rate improvements - No specific timetable of secured business conversions The company discusses: - Wet Shave: "we launched our first direct-to-consumer site in the U.S., schickhydro.com... We also introduced Hydro Connect in China through our Tmall partner, and we launched Hydro Connect into retail channels in Italy and several markets in Central Europe." But these are described as "just the beginning" and no specific timing of contributions is given. - Sun Care: "we had all 5 of the top 5 new items in the U.S." - but this is about current performance, not future scheduled conversions.
| Ticker | Company | Call | Date | Call grade |
|---|---|---|---|---|
| ESEA | Euroseas Ltd. | Q4 2022 | 2023-02-15 | C+ |
| SOL | ReneSola Ltd | Q3 2022 | 2022-12-01 | C+ |
| FLL | Full House Resorts, Inc. | Q3 2022 | 2022-11-07 | B |
| FAT | FAT Brands Inc. | Q4 2021 | 2022-03-21 | F |
| CPK | Chesapeake Utilities Corporation | Q3 2017 | 2017-11-10 | A |
| ESE | ESCO Technologies Inc. | Q2 2016 | 2016-05-03 | A |
CPK · Q3 2017 → YESThe question is about whether management lays out a timetable of specific conversions for the next four or so quarters, with already secured business and approximate time frames.
SOL · Q3 2022 → YESThe question is about whether management lays out a timetable of specific conversions for the next four or so quarters, with already secured items and approximate time frames.
FLL · Q3 2022 → YESThe question is about whether management lays out a timetable of specific conversions for the next four or so quarters, with already secured items and approximate time frames.