Sign in

    Joe Giordano • TD Cowen

    Joe Giordano's questions to Mueller Water Products Inc (MWA) leadership

    Joe Giordano's questions to Mueller Water Products Inc (MWA) leadership • Q2 2025

    Question

    Representing Joe Giordano, an analyst asked for details on segment margin performance versus the consolidated results, which were aided by lower corporate costs, and requested a breakdown of the business between new development and repair/replacement.

    Answer

    CFO Melissa Rasmussen attributed Q2 gross margin pressure to temporary manufacturing inefficiencies from running two foundries and noted SG&A would step up in the second half for strategic investments. CEO Marietta Zakas clarified the end-market mix is approximately 60-65% municipal repair and replacement, 20-25% residential construction (new development), and under 10% natural gas distribution.

    Ask Fintool Equity Research AI

    Joe Giordano's questions to AMETEK Inc (AME) leadership

    Joe Giordano's questions to AMETEK Inc (AME) leadership • Q1 2025

    Question

    An associate on behalf of Joe Giordano asked about the commercial aerospace aftermarket, specifically if AMETEK is seeing airlines reduce maintenance spend. He also asked if the company saw any customer pre-buying ahead of tariffs.

    Answer

    CEO David Zapico stated that any impact from airline maintenance spending is currently muted, and they are not seeing a downturn in their aftermarket business. Regarding pre-buys, he noted that since they build customized products, they saw very little customer pre-buying, but individual business unit operators are empowered to make smart inventory decisions.

    Ask Fintool Equity Research AI

    Joe Giordano's questions to AMETEK Inc (AME) leadership • Q4 2024

    Question

    Joe Giordano of TD Cowen asked for the Q4 book-to-bill ratio, a detailed 2025 outlook by business segment, and an update on the M&A pipeline, including the potential for larger, Paragon-sized deals.

    Answer

    Executive David Zapico reported a Q4 book-to-bill of 1.01 and provided a segment outlook: Process up low-single-digits, Aerospace & Defense up mid-single-digits, Power & Industrial flat, and Automation & Engineered Solutions up mid-single-digits. He stated the M&A pipeline includes both large and small deals, and the company has capacity to spend ~$5 billion in 2025 while maintaining a healthy balance sheet, signaling optimism in the M&A environment.

    Ask Fintool Equity Research AI

    Joe Giordano's questions to Watts Water Technologies Inc (WTS) leadership

    Joe Giordano's questions to Watts Water Technologies Inc (WTS) leadership • Q4 2024

    Question

    Dan, on behalf of Joe Giordano from TD Cowen, asked if potential reciprocal tariffs in Europe would affect the company's competitive position. He also inquired about what makes water products for the correctional facilities market, served by the new I-CON acquisition, unique.

    Answer

    CFO Shashank Patel confirmed that since Watts primarily manufactures in Europe for the European market, the impact of reciprocal tariffs would be minimal. CEO Robert Pagano explained that the correctional facilities market involves significant renovation of old plumbing systems, requiring unique, specialized products designed for safety within cells.

    Ask Fintool Equity Research AI

    Joe Giordano's questions to Watts Water Technologies Inc (WTS) leadership • Q3 2024

    Question

    On behalf of Joe Giordano, an analyst asked about the potential for the institutional building cycle to be elongated and whether the broader non-institutional building cycle might change in length.

    Answer

    CEO Robert Pagano reiterated that the institutional market remains steady and is expected to continue growing over the next 12-18 months. CFO Shashank Patel addressed the non-institutional, non-residential market, pointing to leading indicators like the ABI being below 50 for 18 months, which portends continued softness for some time.

    Ask Fintool Equity Research AI

    Joe Giordano's questions to ITT Inc (ITT) leadership

    Joe Giordano's questions to ITT Inc (ITT) leadership • Q4 2024

    Question

    Joe Giordano questioned if the mid-single-digit growth guidance for the Industrial Process (IP) segment was conservative given strong orders, and asked if geopolitical risks are altering the M&A strategy for non-U.S. companies.

    Answer

    CFO Emmanuel Caprais defended the IP guidance, explaining that large projects have 12-24 month conversion timelines, delaying the full revenue impact of recent orders. CEO Luca Savi added that the M&A strategy remains focused on flow and connectors, which has proven successful despite geopolitical shifts. He noted that the company's 'in the region, for the region' strategy and the divestiture of Wolverine have actually improved its position relative to tariff risks.

    Ask Fintool Equity Research AI

    Joe Giordano's questions to Pentair PLC (PNR) leadership

    Joe Giordano's questions to Pentair PLC (PNR) leadership • Q4 2024

    Question

    Joe Giordano's representative, Vance, asked about the company's plans for debt paydown in 2025 and whether the guidance assumes any debt reduction. He also inquired about the expected cadence of the residential end-market recovery, particularly comparing Q2 to the second half of the year.

    Answer

    CFO Bob Fishman outlined a balanced capital allocation strategy for 2025 that includes some debt paydown to continue lowering the leverage ratio, alongside dividends, share repurchases, and bolt-on M&A. President and CEO John Stauch stated that the guidance assumes only very modest improvements in residential markets during the second half of 2025, driven more by easier year-over-year comparisons than a significant market rebound.

    Ask Fintool Equity Research AI