Upcoming posts (in no particular order): Gartner, Tractor Supply, Transdigm, Waystar, CCC, Fortive, and Veralto Every so often, a sexy new technology or theme emerges in payments that threatens to disintermediate Visa and Mastercard; and every time, Visa and Mastercard manage to absorb that threat into their network. Like the Blob, they swallow every innovation […]
What are scuttleslops? Booking Holdings, Q2 ‘26 Earnings Call, August 04, 2026 Room nights grew 5%, gross bookings rose 9%, revenue increased 8% and adjusted EBITDA grew 9%, all above guidance. Adj. EPS grew 15% y/y, faster than adjusted EBITDA growth, helped by a 6% reduction in average share count. The Middle East conflict hurt […]
What are scuttleslops? Universal Music Group, Q2 ‘26 Earnings Call, July 30, 2026 Universal Music Group grew second-quarter revenue 13.3% to €3.3 billion, but the headline was flattered by the newly acquired Downtown business; excluding Downtown, revenue rose 6.4%. Adjusted EBITDA increased only 1.5% to €674 million, and excluding Downtown it was flat, so revenue […]
What are scuttleslops? Builders FirstSource, Q2 ‘26 Earnings Call, July 30, 2026 Builders FirstSource described the second quarter as a test of its ability to manage through a weak housing cycle without sacrificing its longer-term competitive position. Net sales declined approximately 9% to $3.9 billion, adjusted EBITDA fell 35% to $329 million, and adjusted EBITDA […]
Upcoming posts (in no particular order): Gartner, Visa/Mastercard, Tractor Supply, Waystar, CCC, and Fortive As SpaceX drew up plans to go public, I don’t imagine there was much debate about where its stock would be listed. It might be traded in any number of venues, sure. When you punch in an order to buy SPCX […]
What are scuttleslops? Old Dominion Freight Line, Q2 ‘26 Earnings Call, July 29, 2026 Old Dominion Freight Line reported a strong second quarter, with revenue rising 10.4%, earnings per share increasing 32.3%, and the operating ratio improving 450 basis points to 70.1%. The quarter marked a return to revenue growth despite less-than-truckload tonnage remaining 4.1% […]
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What are scuttleslops? Invest Like the Best interview with Matthew Smith, founder and CIO of Chronometer Partners: America’s Next Energy Crisis; July 21, 2026 Matthew Smith’s central thesis is that the United States is headed toward a structural natural-gas deficit beginning around 2028, with the consequences appearing most visibly in sharply higher electricity prices. Natural […]
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Upcoming posts (in no particular order): Gartner, Visa/Mastercard, Tractor Supply, Waystar, CCC, and OTC Markets Correction: In my U-Haul post from July 10th, I observed: …utilization has been declining for decades, the downward trend interrupted only by brief, one-off reversals like the post-GFC recovery and the COVID surge. (U-Move refers to the equipment rental business) […]
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