Toronto, Ontario — In this week’s Tuesday Ticker, Uni-Select preps for its second-quarter results webcast and market analysts predict Axalta’s Q2 results, while Fiat Chrysler and Peugeot unveil a new corporate name under the companies’ merger.
Uni-Select second-quarter call
On Thursday, July 30 at 8 a.m., Uni-Select will be hosting its 2020 second-quarter results conference via webcast.
The company has said its operating performance this spring was better than anticipated, with sales for April and May as well as cash management exceeding internal forecast set in late March.
In Uni-Select’s most recent business update, released in late June, says early responses to the COVID-19 pandemic resulted in all operating units performing either in line with their respective markets or ahead.
Click here for more information on attending Uni-Select’s second-quarter financial results conference call.
A recording of the conference call will be available from 11:30 a.m. ET on July 30, 2020, until 11:59 a.m. on August 30, 2020.
Paint projections
Though Axalta has yet to unveil its earnings for the quarter ending June 2020, market analysts have predicted a year-over-year change of -130.8 percent, with revenues down nearly 50 percent from the year-ago quarter.
According to the Zacks Consensus estimate, Axalta is expected to post quarterly losses of US$0.16 per share, representing a year-over-year change of -130.8 percent.
Revenues are expected to be US$631.17 million, down 45.5 percent from the year-ago quarter.
The earnings report might help the stock move higher if Axalta’s numbers are better than expectations.
Axalta will unveil its second quarter 2020 financial results on Wednesday, July 29 at 10 a.m. EST.
Click here for more information.
Say hello to Stellantis
Fiat Chrysler Automobiles and Peugeot S.A. will embark on a corporate name change when the companies fully merge in 2021.
The new name, STELLANTIS will be used exclusively at the group level, as a corporate brand. The company says the next step will be unveiling the logo. The names and the logos of the STELLANTIS Group’s constituent brands will remain unchanged.
The new corporate name STELLANTIS is rooted in the Latin verb “stello” meaning ‘to brighten with stars.’ It draws inspiration from this new and ambitious alignment of storied automotive brands and strong company cultures that are coming together, creating one of the new leaders in the next era of mobility, while at the same time preserving all the exceptional value and the values of its constituent parts. The name’s Latin origins pay tribute to the rich history of its founding companies while the evocation of astronomy captures the true spirit of optimism, energy and renewal driving this industry-changing merger.
The process of identifying the new name began soon after the Combination Agreement was announced and the senior management of both companies have been closely involved throughout, supported by Publicis Group.
As previously stated, completion of the merger project is expected to occur in the first quarter of 2021, subject to customary closing conditions, including approval by both companies’ shareholders at their respective Extraordinary General Meetings and the satisfaction of antitrust and other regulatory requirements.
