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    Benjamin Luke McFadden

    Research Analyst at William Blair & Company L.L.C.

    Benjamin Luke McFadden is an Institutional Equity Sales Associate and Equity Research Associate at William Blair & Company L.L.C., specializing in industrial and service companies. He has participated in coverage and discussions regarding companies such as Cintas Corporation, demonstrating deep sector understanding and providing key insights during earnings calls. McFadden began his finance career after earning a Bachelor's Degree from Johns Hopkins University in 2019, with prior experience at Cowen Group and Wertz York Capital Management before joining William Blair in 2025. He is FINRA registered and maintains the required securities licenses to operate as a broker.

    Benjamin Luke McFadden's questions to BrightView Holdings (BV) leadership

    Benjamin Luke McFadden's questions to BrightView Holdings (BV) leadership • Q2 2025

    Question

    Luke McFadden, on for Tim Mulrooney, asked for a breakdown of the raised EBITDA guidance between snow outperformance and core business strength, and questioned how client conversations and discretionary spending are trending amid tariff news.

    Answer

    CEO Dale Asplund clarified the guidance increase was driven by fundamental margin expansion from operational initiatives, not snow, as snow-related gains were reinvested. CFO Brett Urban added that the company's resilient revenue mix, with 90% being predictable, insulates it from macro uncertainty. While they see some client hesitation in signing deals, the quote pipeline is at a record high and direct tariff impact is minimal.

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    Benjamin Luke McFadden's questions to ECOLAB (ECL) leadership

    Benjamin Luke McFadden's questions to ECOLAB (ECL) leadership • Q1 2025

    Question

    Benjamin Luke McFadden of Macquarie Group inquired about the secondary impacts of supply chain onshoring on Ecolab's domestic material costs and the expected final pricing outcome for 2025, considering the new 5% surcharge.

    Answer

    Christophe Beck, Chairman and CEO, acknowledged that while Ecolab's 'local for local' strategy insulates it, the rush to onshore by other companies and specific tariffs on Chinese imports (totaling a few hundred million dollars) necessitate the 5% surcharge in the U.S. He explained the surcharge aims to create a 'win-win' by delivering value exceeding the price increase. Beck anticipates overall pricing, including the surcharge, to approach 3% or better, with delivered product costs likely increasing by mid-single-digits.

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    Benjamin Luke McFadden's questions to CINTAS (CTAS) leadership

    Benjamin Luke McFadden's questions to CINTAS (CTAS) leadership • Q3 2025

    Question

    Benjamin Luke McFadden inquired about the high-level macro setup heading into fiscal 2026 and how Cintas views the opportunity in the government vertical amid potential federal spending cuts.

    Answer

    President and CEO Todd Schneider expressed confidence in Cintas's ability to grow in any economic environment, noting its history of outpacing GDP. Regarding government business, he clarified the focus is on state and local governments, which may absorb work from a shrinking federal government. He cited a recent win with a large public school system where Cintas consolidated services, lowering the customer's total cost while increasing its own share of wallet.

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    Benjamin Luke McFadden's questions to CINTAS (CTAS) leadership • Q1 2025

    Question

    Speaking on behalf of Tim Mulrooney, Benjamin Luke McFadden from William Blair asked for the sales breakdown between market share wins and conversions of 'no-programmers,' and for insights into the typical profile of these recent no-programmer customers.

    Answer

    President and CEO Todd Schneider confirmed there was no change to the historical trend, with approximately two-thirds of new customers coming from the 'no-program' market. He emphasized the breadth of this opportunity, stating that these wins are not concentrated in any specific end market or business size but come from across the 16 million businesses in North America.

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    Benjamin Luke McFadden's questions to NV5 Global (NVEE) leadership

    Benjamin Luke McFadden's questions to NV5 Global (NVEE) leadership • Q3 2024

    Question

    Benjamin Luke McFadden asked about the potential business impact of the Trump election win and which areas within the data center business NV5 is focusing on for growth.

    Answer

    Executive Chairman Dickerson Wright stated that the company can capitalize on both regulatory and non-regulatory environments. Executive Alexander Hockman (Infrastructure) sees continued demand, Executive Kurt Allen (Geospatial) views their work as bipartisan, and Executive Ben Heraud (Buildings & Technology) believes clients sought certainty and expects projects on hold to now proceed. For data centers, Heraud highlighted power delivery as a key growth area and a significant opportunity for cross-selling between the MEP and power delivery teams.

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