Running hot in customers' hands: existing deployments are being used harder than they were sized for
The model's full reasoning — Q2 2018 call → NOWe need to determine if management describes the company's product/service being used more intensively by existing customers than originally expected, with this heavier usage observed in current business. Scan the transcript for relevant statements. Key themes: growth in base business, new products, acquisitions. Look for mentions of existing customers using more, higher utilization, etc. - Lawrence mentions "strong double-digit sales, operating profit and EPS growth" but that's overall. - "we grew our underlying business in our consumer segment" - underlying business growth could be from volume/mix, but not necessarily intensity. - "we are driving strong broad-based growth in our branded foodservice business" - growth, but not necessarily intensity per customer. - "The reshaping of our flavor solutions portfolio is a significant driver of operating margin expansion." - not about usage intensity. - "we are pleased with the Frank's and French's performance" - acquisition. - "Base business growth, new products and acquisitions" - three drivers. - "In our consumer segment, we grew sales 16% in constant currency" - includes acquisition. - "our base business and new product growth contributing 2% driven by the U.S. and China." - 2% growth, not necessarily intensity. - "In U.S. spices and seasonings, our IRI data indicates scanner sales through grocery channels grew for the category at 4% and McCormick branded at 3%." - category growth, not intensity. - "we continue to see good growth in our spice and seasonings brands" - growth. - "In the flavor solutions segment... we continue to win with our customers through new products and promotional activities" - new products, not intensity. - "we are continuing to refine and optimize our portfolio, increasing our sales of higher margin flavor business and exiting lower margin business." - mix shift. - "flavor sales up double digits in North America." - growth. - "We are successfully growing these brands through strengthening distribution" - distribution gains, not usage intensity. - "we have increased our U.S. total distribution points" - distribution. - "we are just beginning to see the benefits of the additional sizes come through the consumption data." - consumption data, but that's about new sizes, not intensity. - "we have already realized double-digit growth in this area" - e-commerce, but small base.
| Ticker | Company | Call | Date | Call grade |
|---|---|---|---|---|
| APYX | Apyx Medical Corporation | Q4 2023 | 2024-03-21 | C |
| HP | Helmerich & Payne, Inc. | Q1 2024 | 2024-01-30 | C |
| SCPH | scPharmaceuticals Inc. | Q3 2023 | 2023-11-08 | B |
| DASH | DoorDash, Inc. | Q3 2023 | 2023-11-01 | C+ |
| ADPT | Adaptive Biotechnologies Corporation | Q4 2022 | 2023-02-14 | C+ |
| UPWK | Upwork Inc. | Q2 2022 | 2022-07-27 | C+ |
| FLYW | Flywire Corporation | Q1 2022 | 2022-05-14 | B+ |
| SOPH | SOPHiA GENETICS SA | Q4 2021 | 2022-03-15 | C |
| RELY | Remitly Global, Inc. | Q4 2021 | 2022-03-02 | B |
| ASAN | Asana, Inc. | Q2 2022 | 2021-09-01 | B+ |
| TJX | The TJX Companies, Inc. | Q2 2021 | 2021-08-18 | C |
| WES | Western Midstream Partners, LP | Q3 2018 | 2018-10-31 | D |
| HOLX | Hologic, Inc. | Q4 2017 | 2017-11-08 | D |
| BCE | BCE Inc. | Q2 2017 | 2017-08-05 | B+ |
| CCOI | Cogent Communications Holdings, Inc. | Q2 2017 | 2017-08-03 | B |
| GEO | The GEO Group, Inc. | Q2 2016 | 2016-08-02 | B+ |
TJX · Q2 2021 → YESThe question is about whether management describes that the company's product, service, capacity, or offering — already deployed with existing customers — is being used more intensively than originall...
WES · Q3 2018 → YESThe question is about whether management describes that the company's product, service, capacity, or offering — already deployed with existing customers — is being used more intensively than originall...
BCE · Q2 2017 → YESThe question is about whether management describes that the company's product, service, capacity, or offering — already deployed with existing customers — is being used more intensively than originall...