Doing it our way now: the approach this company pioneered is becoming the market's way
The model's full reasoning — Q4 2023 call → NOWe need to answer whether management describes that their way of doing things is being adopted, copied, or moved toward by others in the market, with management treating it as validation of what they built. We need to look for instances where management says others are following their lead, or that their approach is becoming common practice, etc. In the transcript, Todd Becker talks about their technology and innovations. Let's scan for relevant statements. They mention they are doing things like Clean Sugar, protein (60%), carbon capture, etc. Do they say others are copying them? There is mention of "the industry" and "others" but we need to see if management explicitly says others are adopting their methods. For example, in the carbon section, they say "We have a diversified carbon strategy... and continue to explore alternatives for our non-pipeline locations." But that's about themselves. They mention that "Plants across the industry are getting older" but that's not about adoption. They talk about their leadership in certain areas, but do they say others are following? They mention "we believe we have an early advantage" and "we are highly confident" but not that others are copying. They talk about their technology: "we believe we are on track to convert 20% to 30% of our portfolio to 60-pro sales" but not about others. They talk about "the world's largest fluid-equipped MSC system" but not about others. There is a part about "The treasury department has indicated that an updated version of the GREET model will be utilized... and importantly, that CCS and Climate Smart Ag Practices will count towards lowering CI." That's external. They say "Today, Brazilian ethanol and so-called used cooking oil from China qualify to be imported for sustainable aviation fuel and receive U.S. tax credits, so it's only right that American corn farmers..." That's about policy, not about others following. They talk about "we haven't talked much about this since we announced it last July" but not about others. The question asks if they describe that others are adopting their way. I don't see a coherent phenomenon where management says competitors are copying them or that the industry is converging on their approach.
| Ticker | Company | Call | Date | Call grade |
|---|---|---|---|---|
| AES | The AES Corporation | Q1 2024 | 2024-05-03 | C+ |
| GGR | Gogoro Inc. | Q1 2023 | 2023-05-11 | D |
| TGT | Target Corporation | Q4 2022 | 2023-02-28 | C |
| ORAN | Orange SA | Q2 2018 | 2018-07-26 | B |
| USFD | US Foods Holding Corp. | Q1 2018 | 2018-05-12 | C |
| SHOO | Steven Madden, Ltd. | Q1 2017 | 2017-04-21 | C |
AES · Q1 2024 → YESThe question is: Does management describe that the WAY THIS COMPANY DOES THINGS is NOW BEING ADOPTED, COPIED, OR MOVED TOWARD BY OTHERS IN ITS MARKET, so that the company's own way of doing things is ...
GGR · Q1 2023 → YESThe question is: Does management describe that the way this company does things is now being adopted, copied, or moved toward by others in its market?
TGT · Q4 2022 → YESThe question is: Does management describe that the way this company does things is now being adopted, copied, or moved toward by others in its market?