Bunzl plc (BZLFF) Q4 2024 Earnings Call Transcript
Bunzl plc (OTCPK:BZLFF) Q4 2024 Results Conference Call March 3, 2025 4:30 AM ET Company Participants Frank van Zanten - CEO Richard Howes - CFO Conference Call Participants Rory McKenzie - UBS Annelies Vermeulen - Morgan Stanley James Rose - Barclays David Brockton - Deutsche Numis Suhasini Varanasi - Goldman Sachs Karin So - JPMorgan Ryan Flight - Jefferies Frank van Zanten Good morning, and thank you for attending Bunzl's 2024 Full Year Results presentation. I appreciate you joining us today.
Bunzl hikes dividend and adds buyback but shares fall to seven-month low
Bunzl PLC (LSE:BNZL) shares fell 6.7% to 3,412p, around a seven-month low, even though it announced final results slightly weaker than expected, though with a £200 million share buyback and a 32nd consecutive annual dividend increase. The distributor of non-food consumables, such as food packaging, disposable cups, gloves and sanitary equipment had issued a profit warning in December when it said profitability was being hit by "more persistent" deflation than it had previously anticipated.
Bunzl pricing challenges under microscope as results near
Bunzl PLC investors will be awaiting to hear how the plastics distributables group is faring in full-year figures on Monday, March 3, after its last update brought caution over deflation. Profitability was said to be impacted over 2024 due to “more persistent” deflation “than previously anticipated,” Bunzl said last time out in December.
Citi upgrades Bunzl to 'buy' citing its defensive strength in an uncertain market
Citi has upgraded Bunzl PLC (LSE:BNZL) to a 'buy' rating, maintaining its target price of £37.00 and forecasting an estimated total return (ETR) of approximately 15%. The decision reflects a reassessment of Bunzl's defensive appeal, particularly as rising bond yields heighten market uncertainty.
Bunzl confirms buyback but slowed by lower prices
Bunzl PLC (LSE:BNZL) expects underlying revenues this year to be 3% higher than a year ago, though added they will be flat or down slightly on an actual basis. Acquisitions will be the driver, added the plastics distributables group, with organic volumes starting to pick up but prices are still being affected by deflation being 'stickier' than expected.
Bunzl upgraded to Outperform from Sector Perform at RBC Capital
RBC Capital upgraded Bunzl to Outperform from Sector Perform with a price target of 4,000 GBp, up from 3,350 GBp. The firm sees an increasingly positive earnings outlook and undemanding valuation for Bunzl.
Bunzl to underpin solid year with more buybacks says broker
Bunzl PLC (LSE:BNZL) has continued on its merry acquisitive way in 2024 seemingly oblivious to external forces that have tripped up others and more reassuring noises are expected with its end-of-year trading update next week. Having hit an all-time in September, the share price of the FTSE 100 plastic disposables group has retreated recently but history suggests this type of pause tends to be temporary in Bunzl's case.
Are Conglomerates Stocks Lagging Bunzl (BZLFY) This Year?
Here is how Bunzl PLC (BZLFY) and Federal Signal (FSS) have performed compared to their sector so far this year.
Is Bunzl (BZLFY) Stock Outpacing Its Conglomerates Peers This Year?
Here is how Bunzl PLC (BZLFY) and Federal Signal (FSS) have performed compared to their sector so far this year.
Bunzl (BZLFY) Could Find a Support Soon, Here's Why You Should Buy the Stock Now
Bunzl (BZLFY) appears to have found support after losing some value lately, as indicated by the formation of a hammer chart. In addition to this technical chart pattern, strong agreement among Wall Street analysts in revising earnings estimates higher enhances the stock's potential for a turnaround in the near term.
Are Conglomerates Stocks Lagging Bunzl (BZLFY) This Year?
Here is how Bunzl PLC (BZLFY) and Federal Signal (FSS) have performed compared to their sector so far this year.
Bunzl retreats from all-time high despite backing outlook
Bunzl PLC (LSE:BNZL) was the biggest faller on the FTSE 100 this morning, with shares of the distributor of working capital items down 2.8%, retreating further from their recent all-time high. This is despite the group reporting an improving sequential organic revenue performance through the third quarter, with a decline of 1.2%.
