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Friday July 8, 2022, 06:48:59

Aerospace: Airbus Is Sticking With Its Aggressive Aircraft Production Strategy

By Chris D. Olin

Airbus recently sent updated commercial aircraft product schedules to all major suppliers that may contain information likely to become a much-needed catalyst for the aerospace peer group. Contrary to the negative quarterly updates issued by companies levered to aerospace or other industries, the Airbus outlook appears to be holding (for the year and beyond). Surprisingly, the management team refrained from lowering build rate targets to account for macro weakness or global supply chain bottlenecks Continue reading

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Thursday June 16, 2022, 05:21:53

Specialty Materials: Highlighting Unexpected Titanium Market Strength

By Chris D. Olin

We updated our titanium market forecasts to account for better-than-expected survey results and positive macro events. Changes to the model include: upward global demand growth revisions for CY22; increased spot market pricing assumptions; and expected market share gains for titanium suppliers based in North America. Bottom-line, titanium could become a bright spot for the highly-levered names ahead of expectations, potential driving accelerated top-line growth for peers like Allegheny Technologies (ATI) and Howmet Aerospace (HWM). Continue reading

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Wednesday April 13, 2022, 04:38:36

Specialty Materials: The Premium Alloy Market Thrusters Kicked In…

By Chris D. Olin

Companies levered to premium alloy and specialty stainless production/fabrication look increasingly likely to meet/beat near-term expectations on top-line growth strength and margin expansion. This morning, we highlight the incremental channel strength evident for key product groups, like nickel-based alloys, which should drive results for the specialty materials peer group over the next few quarters, simultaneously setting up longer-term opportunities associated with contract renewals (at higher price levels). Continue reading

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Sunday March 6, 2022, 23:56:53

Specialty Materials: Boeing Moves Away From Russian-Based Titanium Supply

By Chris D. Olin

Recent channel intelligence involving a formal Boeing Company (BA) decision to sever ties with Russian titanium supplier, VSMPO-Avisma, should be considered a positive development for the specialty materials group. Presumably, all three domestic producers will eventually become beneficiaries of the redistribution of titanium mill supply contracts and associated forging services. Beyond the direct revenue benefit, the eventual confirmation of this unexpected industry event could also serve as the next major spot market catalyst. Continue reading

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