Industrials Archives - Page 5 of 48

Steelcase (SCS) – A Global Leader with Room to Grow

Posted on October 9, 2024October 9, 2024 by cpereira@noblefcm.com

Wednesday, October 09, 2024

Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Initiating Research Coverage. We are initiating research coverage of Steelcase Inc. with an Outperform rating and a $16 price target. Already the global leader in the office furniture marketplace, we believe there is a substantial opportunity to capture additional wallet share. The Company’s research driven approach is a competitive differentiator, in our view.

Largest, But Room to Grow. Despite being the market leader, we believe Steelcase can benefit from a rising market share in a growing market. Steelcase’s overall market share is relatively modest, providing opportunity for Steelcase to capture additional market share, while secular trends are driving overall growth in the market, with the worldwide Office Furniture space projected to grow at a 7.1% CAGR through 2032.

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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.

Release – CoreCivic Announces 2024 Third Quarter Earnings Release and Conference Call Dates

Posted on October 8, 2024October 8, 2024 by dburczyk@noblecapitalmarkets.com

Research News and Market Data on CXW

BRENTWOOD, Tenn., Oct. 08, 2024 (GLOBE NEWSWIRE) — CoreCivic, Inc. (NYSE: CXW) (the Company) announced today that it will release its 2024 third quarter financial results after the market closes on Wednesday, November 6, 2024. A live broadcast of CoreCivic’s conference call will begin at 8:30 a.m. central time (9:30 a.m. eastern time) on Thursday, November 7, 2024.

To participate via telephone and join the call live, please register in advance here https://registrations.events/direct/NTM123920992. Upon registration, telephone participants will receive a confirmation email detailing how to join the conference call, including the dial-in number and a unique passcode.

Participants may access the audio-only webcast of the conference call from the Company’s website at www.corecivic.com under the “Events & Presentations” section of the “Investors” page. A replay of the webcast will be available for seven days.

About CoreCivic
CoreCivic is a diversified, government-solutions company with the scale and experience needed to solve tough government challenges in flexible, cost-effective ways. We provide a broad range of solutions to government partners that serve the public good through high-quality corrections and detention management, a network of residential and non-residential alternatives to incarceration to help address America’s recidivism crisis, and government real estate solutions. We are the nation’s largest owner of partnership correctional, detention and residential reentry facilities, and one of the largest prison operators in the United States. We have been a flexible and dependable partner for government for over 40 years. Our employees are driven by a deep sense of service, high standards of professionalism and a responsibility to help government better the public good. Learn more at www.corecivic.com.

Contact:

Investors: Michael Grant – Managing Director, Investor Relations – (615) 263-6957
Media: Steve Owen – Vice President, Communications – (615) 263-3107

Release – The GEO Group Publishes Sixth Annual Human Rights and ESG Report

Posted on October 8, 2024October 8, 2024 by dburczyk@noblecapitalmarkets.com

Research News and Market Data on GEO

BOCA RATON, Fla.–(BUSINESS WIRE)–Oct. 8, 2024– The GEO Group (NYSE: GEO) (“GEO”) published today the Company’s sixth annual Human Rights and Environmental, Social & Governance (“ESG”) report. The report includes enhanced disclosures related to our Board oversight of human rights and ESG matters, employee diversity and training programs, corporate governance, and environmental sustainability, including updated metrics and statistics for the calendar year 2023, in accordance with the Universal Standards of the Global Reporting Initiative.

The report also highlights GEO’s continued commitment to providing enhanced rehabilitation and post-release support services through our award-winning GEO Continuum of Care® (“CoC”) program. During 2023, our CoC facilities delivered approximately 4.6 million hours of enhanced rehabilitation programming. The CoC program integrates enhanced rehabilitation and reentry programming, including cognitive behavioral treatment, with post-release support services to address basic community needs of released individuals, including housing, transportation, food, clothing, and job placement assistance.

GEO’s Executive Chairman, George C. Zoley, said: “The publication of our sixth annual Human Rights and ESG report highlights our long-standing commitment to respecting the human rights and improving the lives of those entrusted to our care. To reinforce this important commitment, we have also continued to enhance our Board committee structure by adding a standing committee to oversee Health Services, in addition to the three ESG-related committees we established in 2022, which oversee Human Rights, Criminal Justice and Rehabilitation, and Cybersecurity and Environmental matters.”

A copy of GEO’s sixth annual Human Rights and ESG Report is available at www.geogroup.com/esg and www.wearegeo.com/esg.

About The GEO Group

The GEO Group, Inc. (NYSE: GEO) is a leading diversified government service provider, specializing in design, financing, development, and support services for secure facilities, processing centers, and community reentry centers in the United States, Australia, South Africa, and the United Kingdom. GEO’s diversified services include enhanced in-custody rehabilitation and post-release support through the award-winning GEO Continuum of Care®, secure transportation, electronic monitoring, community-based programs, and correctional health and mental health care. GEO’s worldwide operations include the ownership and/or delivery of support services for 100 facilities totaling approximately 81,000 beds, including idle facilities and projects under development, with a workforce of up to approximately 18,000 employees.

Use of forward-looking statements

This news release may contain “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements and any such forward-looking statements are qualified in their entirety by reference to the following cautionary statements. All forward-looking statements speak only as of the date of this news release and are based on current expectations and involve a number of assumptions, risks and uncertainties that could cause the actual results to differ materially from such forward-looking statements. Risks and uncertainties that could cause actual results to vary from current expectations and forward-looking statements contained in this press release include, but are not limited to, risk factors contained in GEO’s filings with the U.S. Securities and Exchange Commission, including its Form 10-K, 10-Q, and 8-K reports. GEO disclaims any obligation to update or revise any forward-looking statements, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241007883064/en/

Pablo E. Paez (866) 301 4436
Executive Vice President, Corporate Relations

Source: The GEO Group, Inc.

Release – Graham Corporation Announces Participation in Noble Capital Markets’ C-Suite Interview Series

Posted on October 8, 2024October 8, 2024 by dburczyk@noblecapitalmarkets.com

Research News and Market Data on GHM

BATAVIA, N.Y.–(BUSINESS WIRE)– Graham Corporation (NYSE: GHM) (“GHM” or “the Company”), a global leader in the design and manufacture of mission critical fluid, power, heat transfer and vacuum technologies for the defense, space, energy and process industries, today announced its participation in Noble Capital Markets’ C-Suite Interview Series, presented by Channelchek.

In this exclusive interview, Graham Corporation’s Chief Executive Officer, Daniel J. Thoren, and Chief Financial Officer, Christopher J. Thome, sit down with Noble Capital Markets Research Analyst Joe Gomes to provide insights into the Company’s ongoing strategic transformation and growth outlook.

The discussion covers a range of topics essential to understanding Graham’s evolving business and market positioning, including:

Company History – An overview of Graham’s rich legacy and evolution over the years.
Diversification Strategy – How Graham has diversified from its roots in oil and gas to expand into defense, space, energy, and other industrial markets.
Defense Sector Leadership – Insights into Graham’s participation in key Navy programs.
Market Dynamics – The balance between domestic and international markets and how each contributes to Graham’s strategic goals.
Margin Drivers & Backlog – Key factors driving Graham’s margin expansion, demand in core markets and growing backlog.
Competitive Landscape – Graham’s position within its competitive markets and industry trends shaping future opportunities.
Opportunities Ahead – Discussion on emerging opportunities and how Graham is positioned to capitalize on evolving market conditions.

The interview, recorded on September 20, 2024, is now available at Channelchek and at GHM Investor Relations.

About Graham Corporation

Graham is a global leader in the design and manufacture of mission critical fluid, power, heat transfer and vacuum technologies for the defense, space, energy, and process industries. Graham Corporation and its family of global brands are built upon world-renowned engineering expertise in vacuum and heat transfer, cryogenic pumps, and turbomachinery technologies, as well as its responsive and flexible service and the unsurpassed quality customers have come to expect from the Company’s products and systems. Graham Corporation routinely posts news and other important information on its website, grahamcorp.com, where additional information on Graham Corporation and its businesses can be found.

About Noble Capital Markets

Noble Capital Markets, Inc. was incorporated in 1984 as a full-service SEC / FINRA registered broker-dealer, dedicated exclusively to serving underfollowed small / microcap companies through investment banking, wealth management, trading & execution, and equity research activities. Over the past 37 years, Noble has raised billions of dollars for these companies and published more than 45,000 equity research reports. www.noblecapitalmarkets.com email: contact@noblecapitalmarkets.com

About Channelchek

Channelchek (.com) is a comprehensive investor-centric portal – featuring more than 6,000 emerging growth companies – that provides advanced market data, independent research, balanced news, video webcasts, exclusive c-suite interviews, and access to virtual road shows. The site is available to the public at every level without cost or obligation. Research on Channelchek is provided by Noble Capital Markets, Inc., an SEC / FINRA registered broker-dealer since 1984. www.channelchek.com email: contact@channelchek.com

Safe Harbor Regarding Forward Looking Statements

This news release and the recorded interview referenced herein contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.

Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as “ahead,” “expects,” “future,” “opportunity,” “anticipates,” “believes,” “could,” “should,” ”may”, “will,” “plan” and other similar words. All statements addressing operating performance, events, or developments that Graham Corporation expects or anticipates will occur in the future, including but not limited to, profitability of future projects and the business, its ability to deliver to plan, its ability to continue to strengthen relationships with customers in the defense industry, its ability to secure future projects and applications, expected expansion and growth opportunities, anticipated sales, revenues, adjusted EBITDA, adjusted EBITDA margins, profit margins, tax rates, foreign sales operations, customer preferences, changes in market conditions in the industries in which it operates, changes in general economic conditions and customer behavior, forecasts regarding the timing and scope of the economic recovery in its markets, are forward-looking statements. Because they are forward-looking, they should be evaluated in light of important risk factors and uncertainties. These risk factors and uncertainties are more fully described in Graham Corporation’s most recent Annual Report filed with the Securities and Exchange Commission (the “SEC”), included under the heading entitled “Risk Factors”, and in other reports filed with the SEC.

Should one or more of these risks or uncertainties materialize or should any of Graham Corporation’s underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. In addition, undue reliance should not be placed on Graham Corporation’s forward-looking statements. Except as required by law, Graham Corporation disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this news release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241007470828/en/

For more information, contact:
Christopher J. Thome
Vice President – Finance and CFO
Phone: (585) 343-2216

Deborah K. Pawlowski
Kei Advisors, An Alliance Advisors Company
Phone: (716) 843-3908
dpawlowski@keiadvisors.com

Source: Graham Corporation

Euroseas (ESEA) – Updating Estimates Due to New Time Charter Contract for the M/V Jonathan P

Posted on October 8, 2024October 8, 2024 by cpereira@noblefcm.com

Tuesday, October 08, 2024

Euroseas Ltd. was formed on May 5, 2005 under the laws of the Republic of the Marshall Islands to consolidate the ship owning interests of the Pittas family of Athens, Greece, which has been in the shipping business over the past 140 years. Euroseas trades on the NASDAQ Capital Market under the ticker ESEA. Euroseas operates in the container shipping market. Euroseas’ operations are managed by Eurobulk Ltd., an ISO 9001:2008 and ISO 14001:2004 certified affiliated ship management company, which is responsible for the day-to-day commercial and technical management and operations of the vessels. Euroseas employs its vessels on spot and period charters and through pool arrangements.

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Hans Baldau, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

New Time Charter Contract: Euroseas Ltd. executed a time charter contract for M/V Jonathan P at a gross daily rate of $20,000 for a minimum period of 11 to a maximum period of 13 months at the option of the charterer. The M/V Jonathan is a 1,740 TEU feeder container ship. Recall that TEU is a unit of cargo capacity that is based on the volume of a 20-foot-long intermodal container that can be transferred between different carriers. The new charter is expected to commence in mid-to-late October 2024.

Profitable Rate and Improved Charter Coverage: The new time charter is expected to contribute EBITDA of ~$4.0 million during the minimum contracted period and improves 2024 and 2025 charter coverage to 96% and 52%, respectively. While the rate is lower than the previous time charter, it is above our prior 2025 rate estimate of $15,000 per day. Moreover, the contract enhances revenue visibility by locking in a profitable rate through 2025.

Get the Full Report

This Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

Release – Kratos and Radisys Partner on Cloud Native 5G-NTN OpenSpace Solutions to Enable Seamless Satellite Access for Terrestrial Networks

Posted on October 7, 2024October 7, 2024 by dburczyk@noblecapitalmarkets.com

Research News and Market Data on KTOS

SAN DIEGO, Oct. 07, 2024 (GLOBE NEWSWIRE) — Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a technology company in the defense, national security and global markets, announced today that it is partnering with Radisys® Corporation, a global leader in open telecom solutions, to develop cloud native 5G-NTN (non-terrestrial network) solutions for satellite connectivity. These solutions will be available through Kratos OpenSpace^® Platform, the only commercially available, fully software-defined satellite ground system.

Radisys is a leading Radio Access Network (RAN) partner for telecom and mobile network operators around the world. Radisys and Kratos share a common vision for the future of connectivity to provide open standards-based solutions that interoperate seamlessly across terrestrial and space networks.

“Radisys is the ideal partner for Kratos in leading the satellite industry forward with 5G-NTN solutions,” said Greg Quiggle, SVP Product Management at Kratos. “Together, we are building a cloud native end-to-end 5G solution for non-terrestrial networks in the OpenSpace Platform. This new solution will enable open, highly scalable high-performance 5G service delivery through any 5G core network worldwide.”

Together, Kratos and Radisys are developing a 5G-NTN satellite base station equivalent to a cellular base station but delivered completely as cloud native software. The ability to do satellite signal processing in software brings standards-based interoperability for quick orchestration of networks within a variety of elastic environments. Doing so better positions satellite operators and service providers to capture the $35 billion in revenue opportunities over the next decade recently identified by GSMA Intelligence at Mobile World Congress earlier this year.

“Our collaboration with Kratos on 5G-NTN solutions marks a significant milestone in the advancement of 5G non-terrestrial network technologies,” said Munish Chhabra, Head of Mobility Software and Services Business, Radisys. “This partnership will drive innovative applications, improve high-speed and ubiquitous global connectivity with seamless TN-NTN integration. Radisys’ unique value proposition of creating 5G-NTN RAN with ORAN disaggregated containerized architecture will help reduce the costs associated with non-terrestrial network communications and facilitate new NTN deployments and use cases.”

5G NTN technology allows satellites to provide internet access to almost anywhere on Earth in much the same way 5G works across cellular towers today. Kratos’ and Radisys’ 5G-NTN solutions will enable tighter integration with terrestrial networks to deliver true 5G mobile broadband over satellites.

According to Carmel Ortiz, SVP of Technology and Innovation at Intelsat, one of the world’s largest global satellite operators, “We are implementing Kratos’ OpenSpace Platform to support our next generation, multi-orbit network. This partnership between Kratos and Radisys gives us confidence that we will be able to offer our consumer, business and government customers best in class 5G services.”

About Kratos OpenSpace
Kratos’ OpenSpace family of solutions enables the digital transformation of satellite ground systems to become a more dynamic and powerful part of the space network. The family consists of three product lines: OpenSpace SpectralNet for converting satellite RF signals to be used in digital environments; OpenSpace quantum products, which are virtual versions of traditional hardware components; and the OpenSpace Platform, the first commercially available, fully orchestrated, software-defined ground system. These three OpenSpace lines enable satellite operators and other service providers to implement digital operations at their own pace and in ways that meet their unique mission goals and business models. For more information about the OpenSpace family visit www.KratosDefense.com/OpenSpace.

About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS) is a technology, products, system and software company addressing the defense, national security, and commercial markets. Kratos makes true internally funded research, development, capital and other investments, to rapidly develop, produce and field solutions that address our customers’ mission critical needs and requirements. At Kratos, affordability is a technology, and we seek to utilize proven, leading edge approaches and technology, not unproven bleeding edge approaches or technology, with Kratos’ approach designed to reduce cost, schedule and risk, enabling us to be first to market with cost effective solutions. We believe that Kratos is known as an innovative disruptive change agent in the industry, a company that is an expert in designing products and systems up front for successful rapid, large quantity, low cost future manufacturing which is a value add competitive differentiator for our large traditional prime system integrator partners and also to our government and commercial customers. Kratos intends to pursue program and contract opportunities as the prime or lead contractor when we believe that our probability of win (PWin) is high and any investment required by Kratos is within our capital resource comfort level. We intend to partner and team with a large, traditional system integrator when our assessment of PWin is greater or required investment is beyond Kratos’ comfort level. Kratos’ primary business areas include virtualized ground systems for satellites and space vehicles including software for command & control (C2) and telemetry, tracking and control (TT&C), jet powered unmanned aerial drone systems, hypersonic vehicles and rocket systems, propulsion systems for drones, missiles, loitering munitions, supersonic systems, space craft and launch systems, C5ISR and microwave electronic products for missile, radar, missile defense, space, satellite, counter UAS, directed energy, communication and other systems, and virtual & augmented reality training systems for the warfighter. For more information, visit www.KratosDefense.com.

About Radisys
Radisys is a global leader in open telecom solutions and services. Its disaggregated platforms and integration services leverage open reference architectures and standards combined with open software and hardware, enabling service providers to drive open digital transformation. Radisys offers an end-to-end solutions portfolio from digital endpoints to disaggregated and open access and core solutions, to immersive digital applications and engagement platforms. Its world-class and experienced network services organization delivers full lifecycle services to help service providers build and operate highly scalable and high-performance networks at optimum total cost of ownership. For more information, visit www.Radisys.com.

Notice Regarding Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Kratos and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Kratos undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Kratos believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Kratos in general, see the risk disclosures in the Annual Report on Form 10-K of Kratos for the year ended December 31, 2023, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Kratos.

Press Contact:
Claire Burghoff
claire.burghoff@kratosdefense.com

Investor Information:
877-934-4687
investor@kratosdefense.com

Release – The GEO Group Announces Exercise of Five-Year Option Period for Adelanto ICE Processing Center Contract

Posted on October 4, 2024October 4, 2024 by dburczyk@noblecapitalmarkets.com

Research News and Market Data on GEO

BOCA RATON, Fla.–(BUSINESS WIRE)–Oct. 4, 2024– The GEO Group (NYSE: GEO) (“GEO”) announced today that U.S. Immigration and Customs Enforcement (“ICE”) has exercised the five-year option period extending the contract for the GEO-owned 1,940-bed Adelanto ICE Processing Center in California (the “Adelanto Center”) through December 19, 2029.

ICE and GEO entered into a 15-year contract on December 19, 2019, for the provision of secure residential housing and care at the Adelanto Center, consisting of a five-year base period followed by two five-year option periods. The Adelanto Center employs approximately 350 employees.

George C. Zoley, Executive Chairman of GEO, said, “We believe the exercise of this five-year contract option period by ICE is indicative of the important role the Adelanto Center plays in helping ICE and the U.S. Department of Homeland Security fulfill their mission and operational priorities. We are proud of our approximately 350 employees at the Adelanto Center, whose dedication and professionalism have allowed GEO to establish a long-standing record of providing high-quality support services on behalf of ICE in the state of California.”

About The GEO Group

Use of forward-looking statements

This news release may contain “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements and any such forward-looking statements are qualified in their entirety by reference to the following cautionary statements. All forward-looking statements speak only as of the date of this news release and are based on current expectations and involve a number of assumptions, risks and uncertainties that could cause the actual results to differ materially from such forward-looking statements, including statements regarding the Adelanto Center contract. Risks and uncertainties that could cause actual results to vary from current expectations and forward-looking statements contained in this press release include, but are not limited to, risk factors contained in GEO’s filings with the U.S. Securities and Exchange Commission, including its Form 10-K, 10-Q, and 8-K reports. GEO disclaims any obligation to update or revise any forward-looking statements, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241003320069/en/

Pablo E. Paez (866) 301 4436
Executive Vice President, Corporate Relations

Source: The GEO Group, Inc.

Dockworkers Strike Over Automation is Just the Beginning: What It Means for Labor and Tech

Posted on October 3, 2024October 3, 2024 by slightbourne@noblecapitalmarkets.com

Key Points:
– Dockworkers strike over pay and automation concerns, signaling rising labor tensions over technology.
– Labor unions across various industries are pushing back against job displacement due to automation.
– Experts predict the effects of automation will soon impact all sectors, not just manual labor jobs.

The ongoing dockworkers’ strike over demands for higher wages and a ban on automation marks the latest battle in the growing resistance to technology in the workplace. As automation and artificial intelligence (AI) continue to reshape industries, labor unions across the U.S. are beginning to take a stand, seeking to control how these advancements impact their livelihoods. Rather than allowing employers to dictate the changes, workers are pushing for a more equitable approach to technological progress, one that balances innovation with job security.

The dockworkers’ strike is part of a broader trend that has seen unions across various industries, from Hollywood writers to auto workers, rally against automation and AI’s encroachment on their jobs. In recent months, employees have walked off the job, demanding fairer working conditions and stronger protections against the displacement caused by these emerging technologies. These collective actions are not just about wages; they represent a broader anxiety about the future of work in an increasingly automated world.

“These labor movements are connected by a common thread of resistance to technology and automation,” says Alexander Hertel-Fernandez, an associate professor at Columbia University. “As unions begin to succeed in one sector, it builds momentum and encourages workers in other fields to push back as well.”

One of the primary concerns of the dockworkers is that automation could lead to massive job losses. The shipping industry, which traditionally relies heavily on human labor, is now seeing advancements in robotics and AI that threaten to replace workers with machines. If automation is fully implemented in ports, it could transform an industry once dominated by human labor into one driven by robotics. This shift raises fears about the future of jobs in the sector and the potential consequences for workers who may find themselves obsolete.

The effects of a prolonged strike are already being felt, with delays in cargo shipments, higher prices, and supply chain disruptions on the horizon. Critics of the strike argue that resisting automation is akin to fighting the tide of progress. However, labor advocates counter that the conversation should be less about resisting technology and more about ensuring that workers are not left behind in the process.

“We need to strike a balance between advancing technology and protecting workers’ livelihoods,” says Darrell West, a senior fellow at the Brookings Institution. West suggests that retraining programs for displaced workers could offer a potential solution. “Mandating retraining programs for employees affected by automation could allow them to transition into other roles within the company or industry, rather than simply being pushed out.”

While automation may currently be impacting sectors like shipping and manufacturing, its reach is expanding. West warns, “Eventually, this will happen across all industries.” Whether it’s manual labor or white-collar jobs, no one is immune from the disruptions caused by technological advancements. What we see with the dockworkers today could set a precedent for how other sectors respond when automation begins to threaten their jobs.

Ultimately, the dockworkers’ strike is not just about protecting jobs in the shipping industry—it’s about establishing a framework for how society handles the rapid rise of technology. The decisions made in this strike could shape the future of work for employees across various industries, many of whom are also at risk of displacement by automation.

Great Lakes Dredge and Dock Secures $342 Million in New Dredging Contracts

Posted on October 2, 2024October 2, 2024 by slightbourne@noblecapitalmarkets.com

Key Points:
– Great Lakes Dredge & Dock (GLDD) wins $342.3 million in new dredging contracts, enhancing its revenue visibility.
– GLDD also has $350 million in low bids and options, with a potential project pipeline exceeding $1.5 billion.
– The largest project, Sabine-Neches Waterway Channel Improvement, is valued at $219.1 million and begins in 2025.

Great Lakes Dredge & Dock Corporation (GLDD) has announced significant project wins, receiving $342.3 million in new dredging contracts. These latest awards are expected to further strengthen the company’s revenue visibility and enhance its already sizable project backlog, positioning GLDD for long-term growth in the highly competitive dredging sector.

Among the awarded projects is the Sabine-Neches Waterway Channel Improvement, Contract 6 Project in Texas, the largest of the contracts valued at $219.1 million. This project will commence in mid-2025 and is anticipated to complete by late 2026. Additionally, the company secured several other projects, including the Canaveral Harbor Sand Bypass Project in Florida, the Absecon Island Beach Renourishment Project in New Jersey, and others in Texas and Massachusetts.

In addition to the new awards, GLDD has approximately $350 million in low bids and pending options, bringing its total potential pipeline to more than $1.5 billion. The company highlighted that these ongoing project wins align with its strategy of solidifying its market leadership in the U.S. dredging industry. GLDD’s consistent ability to secure new projects not only reflects its strong bidding capacity but also signals sustained demand for dredging services across the U.S. coastlines and waterways.

Long-Term Outlook and Market Leadership

GLDD is the largest provider of dredging services in the United States and has successfully built a reputation for strong project execution, high equipment utilization, and solid operational performance. With a current dredging backlog of $807.9 million as of the second quarter of 2024, the company is well-positioned to bid on future projects and maintain a robust pipeline. The newly awarded contracts will further boost the company’s project visibility, ensuring continued growth through 2026.

The projects GLDD has secured cover a range of services, from beach renourishment to channel improvements, all of which are critical to maintaining the U.S. coastline, protecting natural resources, and facilitating safe and efficient maritime trade. With the Federal Reserve’s recent interest rate cuts, GLDD anticipates a positive market environment, supporting its long-term strategy of continued growth in the heavy construction and dredging sectors.

Strong Market Performance

In the past three months, GLDD’s stock has surged 35%, outperforming the broader heavy construction sector, which has grown by 16.2%. The company’s stock growth reflects strong investor confidence in its ability to continue winning contracts, which are crucial for revenue generation and building a strong backlog. With ongoing cost-reduction initiatives, increased equipment utilization, and a diversified project portfolio, GLDD is positioned for solid performance in the years ahead.

The company’s proactive approach to securing contracts, coupled with strong execution, continues to drive its market leadership. With market conditions expected to remain robust through 2026, GLDD’s outlook remains positive.

Watch our exclusive interview with Great Lakes Dredge & Dock (GLDD) CEO, CFO & SVP of Offshore Wind

Release – V2X Awarded Position On $11.9 Billion JETS 2.0 Contract To Deliver Cybersecurity Solutions

Posted on October 1, 2024October 1, 2024 by dburczyk@noblecapitalmarkets.com

Research News and Market Data on VVX

MCLEAN, Va., Oct. 1, 2024 /PRNewswire/ — V2X, Inc. (NYSE: VVX) announces its selection for the $11.9 billion Defense Logistics Agency (DLA) J6 Enterprise Technology Services 2.0 (JETS 2.0) contract, securing its place amongst a select group of providers.

“In today’s rapidly evolving digital landscape, vigilance is paramount. V2X is proud to support the Defense Logistics Agency by delivering critical cybersecurity and IT modernization services to uphold their mission,” said Jeremy C. Wensinger, President and Chief Executive Officer of V2X.

Under the JETS 2.0 contract, V2X will provide a range of advanced IT solutions, including cloud services and cybersecurity services to the DLA. This indefinite-delivery/indefinite-quantity contract spans an initial five-year base period, with the potential for an additional five-year option, supporting both U.S. and international Defense Department operations with essential IT services.

About V2X

V2X builds innovative solutions that integrate physical and digital environments by aligning people, actions, and technology. V2X is embedded in all elements of a critical mission’s lifecycle to enhance readiness, optimize resource management, and boost security. The company provides innovation spanning national security, defense, civilian, and international markets. With a global team of approximately 16,000 professionals, V2X enables mission success by injecting AI and machine learning capabilities to meet today’s toughest challenges across all operational domains.

Media Contact
Angelica Spanos Deoudes
Director, Corporate Communications
Angelica.Deoudes@goV2X.com
571-338-5195

Investor Contact
Mike Smith, CFA
Vice President, Treasury, Corporate Development and Investor Relations
IR@goV2X.com

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SOURCE V2X, Inc.

Release – The GEO Group Announces Date for Third Quarter 2024 Earnings Release and Conference Call

Posted on September 30, 2024September 30, 2024 by dburczyk@noblecapitalmarkets.com

Research News and Market Data on GEO

Earnings Release Scheduled for Thursday, November 7, 2024 Before the Market Opens
Conference Call Scheduled for Thursday, November 7, 2024 at 11:00 AM (Eastern Time)

BOCA RATON, Fla.–(BUSINESS WIRE)–Sep. 30, 2024– The GEO Group, Inc. (NYSE:GEO) (“GEO”) will release its third quarter 2024 financial results on Thursday, November 7, 2024 before the market opens. GEO has scheduled a conference call and simultaneous webcast for 11:00 AM (Eastern Time) on Thursday, November 7, 2024.

Hosting the call for GEO will be George C. Zoley, Executive Chairman of the Board, Brian R. Evans, Chief Executive Officer, Mark Suchinski, Chief Financial Officer, Wayne Calabrese, President and Chief Operating Officer, and James Black, President, GEO Secure Services.

To participate in the teleconference, please contact one of the following numbers 5 minutes prior to the scheduled start time:

1-877-250-1553 (U.S.)
1-412-542-4145 (International)

In addition, a live audio webcast of the conference call may be accessed on the Webcasts section of GEO’s investor relations home page at investors.geogroup.com. A webcast replay will remain available on the website for one year.

A telephonic replay will also be available through November 14, 2024. The replay numbers are 1-877-344-7529 (U.S.) and 1-412-317-0088 (International). The passcode for the telephonic replay is 7169822. If you have any questions, please contact GEO at 1-866-301-4436.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240927105230/en/

Pablo E. Paez 1-866-301-4436
Executive Vice President, Corporate Relations

Source: The GEO Group, Inc.

V2X (VVX) – Noble Conference Presentation

Posted on September 26, 2024September 26, 2024 by cpereira@noblefcm.com

Thursday, September 26, 2024

For more than 70 years, Vectrus has provided critical mission support for our customers’ toughest operational challenges. As a high-performing organization with exceptional talent, deep domain knowledge, a history of long-term customer relationships, and groundbreaking technical expertise, we deliver innovative, mission-matched solutions for our military and government customers worldwide. Whether it’s base operations support, supply chain and logistics, IT mission support, engineering and digital integration, security, or maintenance, repair and overhaul, our customers count on us for on-target solutions that increase efficiency, reduce costs, improve readiness, and strengthen national security. Vectrus is headquartered in Colorado Springs, Colo., and includes about 8,100 employees spanning 205 locations in 28 countries. In 2021, Vectrus generated sales of $1.8 billion. For more information, visit the company’s website at www.vectrus.com or connect with Vectrus on Facebook, Twitter, and LinkedIn.

Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Noble Conference. We hosted V2X President and CEO Jeremy Wensinger at our Basic Industries Virtual Investor Conference. Mr. Wensinger touched on the Company’s end-to-end capabilities, including full lifecycle solutions, large backlog, positive future opportunity, and an expanding addressable market. A replay of the presentation, including Q&A can be viewed at: https://www.channelchek.com/videos/v2x-inc-vvx-noble-capital-markets-basic-industries-virtual-conference-replay

Expanding Addressable Market. With the combination of Vectrus and Vertex, V2X is now able to pursue opportunities previously out of either individual company’s reach, expanding V2X’s addressable market. The prime example of this is the July award of the $3.7 billion War Fighter Training Readiness contract, which combined strengths of both the old Vectrus and Vertex into a winning proposal, even against stiff competition.

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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

Great Lakes Dredge & Dock (GLDD) – Noble Conference Presentation

Posted on September 26, 2024September 26, 2024 by cpereira@noblefcm.com

Thursday, September 26, 2024

Great Lakes Dredge & Dock Corporation is the largest provider of dredging services in the United States. In addition, Great Lakes is fully engaged in expanding its core business into the rapidly developing offshore wind energy industry. The Company has a long history of performing significant international projects. The Company employs experienced civil, ocean and mechanical engineering staff in its estimating, production and project management functions. In its over 131-year history, the Company has never failed to complete a marine project. Great Lakes owns and operates the largest and most diverse fleet in the U.S. dredging industry, comprised of approximately 200 specialized vessels. Great Lakes has a disciplined training program for engineers that ensures experienced-based performance as they advance through Company operations. The Company’s Incident-and Injury-Free® (IIF®) safety management program is integrated into all aspects of the Company’s culture. The Company’s commitment to the IIF® culture promotes a work environment where employee safety is paramount.

Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Noble Conference. We hosted Great Lakes CFO Scott Kornblau at our Basic Industries Virtual Investor Conference. Mr. Kornblau touched on the Company’s recent strong operating performance, backlog, positive future opportunity, the ship building program, and capital structure. A replay of the presentation, including Q&A can be viewed at: https://www.channelchek.com/videos/great-lakes-dredge-dock-company-gldd-noble-capital-markets-basic-industries-virtual-conference-replay

Operating Performance. Great Lakes has completed three successful quarters in a row and the Company believes the strong operating outlook will continue for the foreseeable future, driven by record budgets at the U.S. Army Corps, supplemental funding for hurricane impacted areas now being released, and other additional funding for large projects expected in the second half of the decade.

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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).