Sign in

    Pooran Sharma

    Managing Director of Equity Research at Stephens Inc.

    Pooran Sharma is a Managing Director of Equity Research at Stephens Inc., specializing in the Food, Agribusiness, and Grocery/C-store sectors. He covers companies such as Cal-Maine Foods, having recently set a price target of $108, and has contributed to the firm's commodity model development for these industries. Sharma brings over 13 years of diversified financial services experience, previously serving at Stephens as an Associate with analysts Farha Aslam and Ben Bienvenu before rejoining as Managing Director in September 2024. He holds the CFA designation and is FINRA-registered, reflecting his professional credentials and expertise in equity research.

    Pooran Sharma's questions to HORMEL FOODS CORP /DE/ (HRL) leadership

    Pooran Sharma's questions to HORMEL FOODS CORP /DE/ (HRL) leadership • Q3 2025

    Question

    Pooran Sharma from Stephens Inc. asked for Hormel's perspective on hog supply prospects given recent production trends. He also inquired if the company is seeing market share or margin benefits from the tightening supply in the turkey industry.

    Answer

    CFO Jacinth Smiley noted that long-term supply agreements provide confidence in securing pork supply. Regarding turkey, President John Ghingo confirmed that Hormel is gaining market share with its Jennie-O brand, growing at a double-digit rate and outpacing the category, while also successfully implementing pricing to recover margins.

    Ask Fintool Equity Research AI

    Pooran Sharma's questions to HORMEL FOODS CORP /DE/ (HRL) leadership • Q2 2025

    Question

    Pooran Sharma asked if Foodservice margins, which have been flat, are expected to improve in the second half. He also inquired if the temporary negative impact from the export customer mix in the International segment has been resolved.

    Answer

    CEO Jim Snee confirmed that the company expects segment profit growth for Foodservice in the second half, driven by top-line momentum, Planters, innovation, and favorable year-over-year comps. He also stated that the international export mix issue was a timing matter that has been resolved, and the China business continues to be a key growth driver.

    Ask Fintool Equity Research AI

    Pooran Sharma's questions to HORMEL FOODS CORP /DE/ (HRL) leadership • Q1 2025

    Question

    Pooran Sharma inquired about the rationale for divesting the South Farm operation to reduce commodity exposure and asked for an update on the company's overall position in this area. He also requested color on the progress of the Transform & Modernize (T&M) initiatives and the ramp-up of the new Memphis distribution center.

    Answer

    CEO James Snee explained the divestiture was a strategic move to exit their last vertically integrated hog production asset, as it is not a core capability and adds volatility. He confirmed Hormel is now out of hog production but remains in hog harvesting. CFO Jacinth Smiley stated the T&M initiative is on track to deliver its $100M-$150M benefit target for FY25, with a second-half ramp. She noted the Memphis DC is part of this work, designed to improve inventory flow and reduce logistics costs.

    Ask Fintool Equity Research AI

    Pooran Sharma's questions to HORMEL FOODS CORP /DE/ (HRL) leadership • Q4 2024

    Question

    Pooran Sharma asked about the key drivers of growth within the Foodservice segment and how the company plans to achieve its mid-single-digit growth target for the upcoming year.

    Answer

    CEO Jim Snee stated that the Foodservice playbook remains consistent, relying on its position of strength. He highlighted the direct sales team, a portfolio of innovative product solutions that address operator pain points, and diversified channels (commercial, lodging, C-stores) as key drivers. Snee expressed confidence that this differentiated model will deliver strong, broad-based growth in 2025 despite the macro environment.

    Ask Fintool Equity Research AI

    Pooran Sharma's questions to JBS (JBS) leadership

    Pooran Sharma's questions to JBS (JBS) leadership • Q2 2025

    Question

    Pooran Sharma from Stephens Inc. sought more detail on the Australian business, asking if the strong margins were expected to improve sequentially. He also inquired if the Brazilian beef tariff situation could positively impact the U.S. chicken business (Pilgrim's Pride) by reducing beef supply.

    Answer

    Global CEO Gilberto Tomazoni stated that he expects Australian margins to remain in the double-digits, supported by favorable livestock availability and normalized operations. Regarding the tariff impact, he believes the global protein market is interconnected and will rebalance, making it too early to estimate a specific benefit for U.S. chicken.

    Ask Fintool Equity Research AI

    Pooran Sharma's questions to Green Plains (GPRE) leadership

    Pooran Sharma's questions to Green Plains (GPRE) leadership • Q2 2025

    Question

    Pooran Sharma inquired about the carbon monetization structure, asking what portion of cash flow would reach the company, and also asked about the potential for cost savings beyond the $50 million target already achieved.

    Answer

    CFO Phil Boggs and Interim CEO Michelle Mapes clarified that significant cash flow from carbon credits will accrue directly to the company after financing costs, as it is a credit monetization, not a tax equity structure. CHRO Jamie Herbert and EVP Chris Osowski stated that cost savings are driven by a continuous improvement culture across all functions, with further opportunities being identified.

    Ask Fintool Equity Research AI

    Pooran Sharma's questions to Green Plains (GPRE) leadership • Q2 2025

    Question

    Pooran Sharma inquired about the carbon monetization plan, specifically how cash flows would be distributed between the company and project partners. He also asked about the potential for further cost savings beyond the already achieved $50 million target.

    Answer

    CFO Phil Boggs and Interim Principal Executive Officer Michelle Mapes clarified that while the project is financed, significant free cash flow will accrue directly to Green Plains, as it is a credit monetization, not a tax equity structure. CHRO Jamie Herbert, EVP Chris Osowski, and Michelle Mapes detailed that further savings will come from a culture of continuous improvement, process elimination, and a zero-based approach to all expenses.

    Ask Fintool Equity Research AI

    Pooran Sharma's questions to Green Plains (GPRE) leadership • Q1 2025

    Question

    Pooran Sharma inquired about the rationale for reinstating a formal hedging framework, asking for details on the strategy, instruments used, and whether longer-dated positions were being layered in. He also requested an update on the CEO search and the desired attributes for the next leader.

    Answer

    Imre Havasi, SVP, Head of Trading and Commercial Operations, explained that hedging is a standard risk management practice, driven by market opportunities and supported by deep analysis. He confirmed they hedge crush margins and co-products with strict limits. Michelle Mapes, Interim Principal Executive Officer, added that a new board-level Risk Committee has been formed. Regarding the CEO search, Ms. Mapes stated the process is in its final stages and an announcement is expected in the near future.

    Ask Fintool Equity Research AI

    Pooran Sharma's questions to Archer-Daniels-Midland (ADM) leadership

    Pooran Sharma's questions to Archer-Daniels-Midland (ADM) leadership • Q2 2025

    Question

    Pooran Sharma of Stephens Inc. requested more detail on ADM's network optimization plan, asking where the greatest opportunities for improvement lie and how to quantify the potential operational expense benefits.

    Answer

    CEO Juan Luciano explained that network optimization is a continuous process focused on improving the entire footprint rather than individual plants. He highlighted recent successes in reducing unscheduled downtime and mentioned specific actions like facility shutdowns and a new joint venture. He described it as an ongoing 'trickle down of optimization' but declined to provide a specific per-metric-ton cost improvement target at this time.

    Ask Fintool Equity Research AI

    Pooran Sharma's questions to Archer-Daniels-Midland (ADM) leadership • Q2 2025

    Question

    Pooran Sharma of Stephens Inc. requested more details on ADM's network optimization plan, asking where the greatest opportunities for improvement lie and how these actions might impact processing operating expenses.

    Answer

    CEO Juan Luciano explained that the optimization strategy involves a holistic network view, focusing on expanding low-cost facilities and retiring or divesting challenged assets, such as the recent Kershaw plant shutdown and the Lubbock cottonseed JV. He stated that these efforts are preparing ADM's footprint for higher crush rates. However, he declined to provide a specific cost-per-ton improvement target, preferring to wait for more stability in plant run rates.

    Ask Fintool Equity Research AI

    Pooran Sharma's questions to Archer-Daniels-Midland (ADM) leadership • Q1 2025

    Question

    Pooran Sharma asked about the soy crush industry, questioning if there are signs of capacity rationalization or project delays given the new capacity coming online amid a weak fundamental backdrop.

    Answer

    CEO Juan Luciano stated that ADM is managing what it can control, citing the company's own shutdown of its Kershaw plant as an example of its network optimization efforts. He emphasized that the new industry capacity was built in anticipation of RVO mandates for renewable green diesel, highlighting the importance of policy clarity to justify the investments.

    Ask Fintool Equity Research AI

    Pooran Sharma's questions to Archer-Daniels-Midland (ADM) leadership • Q4 2024

    Question

    Pooran Sharma asked for more detail on the 45Z guidance, the implications of its interim status, and the overall state of the biofuels industry, noting reports of smaller producers shutting down.

    Answer

    CEO Juan Luciano clarified that the guidance is preliminary and subject to change, creating market uncertainty. He confirmed that the removal of the blenders tax credit has pressured margins, causing some smaller, non-integrated producers to shut down as ADM had anticipated. He stated that ADM's integrated facilities continue to operate, and emphasized that policy clarity is crucial for the industry's health.

    Ask Fintool Equity Research AI

    Pooran Sharma's questions to Andersons (ANDE) leadership

    Pooran Sharma's questions to Andersons (ANDE) leadership • Q2 2025

    Question

    Pooran Sharma of Stephens Inc. asked for details on the revenue contribution and updated EBITDA outlook for the Skyland acquisition, clarification on the potential impact of 45Z tax credits, and context for the $1.54 per gallon acquisition price for the ethanol assets.

    Answer

    President & CEO William Krueger acknowledged Skyland's first-half results were below expectations but is optimistic for the second half. EVP & CFO Brian Valentine provided a revised full-year EBITDA forecast of $25M-$30M for Skyland. Krueger deferred providing specifics on the 45Z tax credit impact, pending more clarity on the new legislation. He also clarified the ethanol acquisition price was closer to $1.70/gallon with working capital, stating it was a fair price for a known, high-quality asset.

    Ask Fintool Equity Research AI

    Pooran Sharma's questions to Andersons (ANDE) leadership • Q1 2025

    Question

    Pooran Sharma of Stephens Inc. asked if the strong year-to-date ethanol export momentum to Canada was a pull-forward effect or sustainable, and also questioned how the large prospective corn plantings might impact grain storage income opportunities later in the year.

    Answer

    President and CEO William Krueger suggested the strong Q1 ethanol exports were likely 'a little bit of a pull forward,' projecting full-year exports to be stable with the prior year at around 1.85 to 1.9 billion gallons, with tariffs as a key variable. Regarding grain storage, Krueger expressed optimism that a potentially large wheat crop and over 95 million corn acres could create opportunities in the second half of the year to offset Q1 shortfalls, contingent on crop outcomes and sustained export demand.

    Ask Fintool Equity Research AI

    Pooran Sharma's questions to Andersons (ANDE) leadership • Q4 2024

    Question

    Pooran Sharma from Stephens Inc. asked about the potential impact of trade tariffs, the integration progress and financial outlook for the Skyland Grain investment, and the expected benefit to the Nutrient business from a shift to more corn acreage.

    Answer

    President and CEO William Krueger explained that the company's domestic focus limits its exposure to trade tariffs, with no material impact expected for 2025. On the Skyland Grain acquisition, Krueger noted that commercial integration is ahead of schedule, while EVP and CFO Brian Valentine reaffirmed the $30M-$40M annual EBITDA contribution target, citing a strong start. Krueger also confirmed that corn requires substantially more nutrient inputs than other crops, making an expected increase in corn acreage a significant positive for the new Agribusiness segment.

    Ask Fintool Equity Research AI

    Pooran Sharma's questions to Andersons (ANDE) leadership • Q3 2024

    Question

    Pooran Sharma from Stephens Inc. requested a breakdown of the drivers behind the strong ethanol results and the outlook for the segment. He also asked about the company's strategy to lower its carbon intensity (CI) score in anticipation of the 45Z tax credit and inquired about the current M&A pipeline.

    Answer

    President and CEO William Krueger attributed the record ethanol performance to strong export demand, higher blend rates, and significantly lower corn basis costs. EVP and CFO Brian Valentine added that the company's strategy focuses on large, efficient, well-located plants with the ability to lower CI scores, which underpins their optimism. Krueger confirmed a dual focus on reducing CI through regenerative agriculture programs and carbon sequestration projects. Valentine described the M&A pipeline as robust, with a disciplined focus on core businesses and logical extensions like the Skyland acquisition.

    Ask Fintool Equity Research AI

    Pooran Sharma's questions to TYSON FOODS (TSN) leadership

    Pooran Sharma's questions to TYSON FOODS (TSN) leadership • Q3 2025

    Question

    Pooran Sharma of Stephens Inc. inquired about the supply outlook for the Pork segment, given recent Hogs and Pigs reports, and asked about the potential for a normalized operating margin in the Chicken segment, questioning if profitability has peaked.

    Answer

    President & CEO Donnie King attributed strong Pork results to execution and cited USDA projections for modest supply growth in 2025 and 2026. Group President Brady Stewart added that producer profitability supports expansion. Regarding Chicken, King asserted that profitability has not peaked, citing ongoing operational execution, innovation, strategic partnerships, and a mix shift to value-added products as drivers for future growth.

    Ask Fintool Equity Research AI

    Pooran Sharma's questions to TYSON FOODS (TSN) leadership • Q2 2025

    Question

    Pooran Sharma of Stephens Inc. asked if the cold winter weather had a material impact on operations. He also inquired about pork supply trends, questioning if lighter-than-expected supplies were due to industry rationalization or temporary factors.

    Answer

    CEO Donnie King and CFO Curt Calaway confirmed that while there were weather disruptions, the impact was not materially different from historical norms, and the company managed through them effectively. On pork, Group President Brady Stewart noted that producer profitability is now stable, and productivity gains are supporting supply. He does not foresee large disruptions and expects operational improvements to offset any minor issues.

    Ask Fintool Equity Research AI

    Pooran Sharma's questions to TYSON FOODS (TSN) leadership • Q1 2025

    Question

    Pooran Sharma of Stephens Inc. requested an update on the self-help opportunity in the Chicken segment and asked if higher projected hog supplies in the second half could materially improve Pork segment margins.

    Answer

    Wes Morris, Group President of Poultry, indicated that ongoing operational efficiencies are positioning the segment to offset cost inflation, effectively confirming the continuation of self-help gains. On the Pork segment, Brady Stewart, Group President of Beef and Pork, acknowledged the favorable supply outlook but emphasized the team's focus on operational execution and noted they will continue to monitor the margin environment.

    Ask Fintool Equity Research AI

    Pooran Sharma's questions to TYSON FOODS (TSN) leadership • Q4 2024

    Question

    Pooran Sharma of Stephens Inc. requested clarification on the Beef segment's guidance, particularly how potential herd rebuilding is factored in. He also asked for an update on the company's network optimization and plant closure initiatives.

    Answer

    CEO Donnie King explained the Beef guidance assumes a market similar to FY24, as significant herd rebuilding is not yet evident, with factors like heavier weights providing some offset. Brady Stewart, Group President of Beef, added that Tyson is focused on controllable factors like operating costs and yield. Regarding network optimization, King described a continuous evaluation process based on asset profitability, scale, and competitiveness, suggesting it remains a strategic focus.

    Ask Fintool Equity Research AI

    Pooran Sharma's questions to Ingredion (INGR) leadership

    Pooran Sharma's questions to Ingredion (INGR) leadership • Q2 2025

    Question

    Pooran Sharma of Stephens Inc. asked about the sustainability of the high operating margins in the Texture and Healthful Solutions segment and inquired about the dynamics and customer conversations regarding the industrial starch business.

    Answer

    President & CEO Jim Zallie and EVP & CFO Jim Gray affirmed that the higher margin level in Texture and Healthful Solutions is sustainable and will not revert to 2024 levels, supported by procurement efficiencies and improved mix. Regarding industrial starch, Zallie noted the Q2 results were impacted by a one-off plant issue and that they anticipate stronger sales in the second half based on customer feedback, despite tariff-related uncertainty.

    Ask Fintool Equity Research AI

    Pooran Sharma's questions to Ingredion (INGR) leadership • Q1 2025

    Question

    Pooran Sharma of Stephens Inc. inquired about the drivers of the updated Q2 guidance, seeking details on segment-level strengths and weaknesses. He also asked for management's perspective on how favorable corn planting forecasts might impact unhedged raw material costs.

    Answer

    CFO Jim Gray explained that the Q2 guidance laps a record Q2 2024, particularly in the U.S./Canada Food & Industrial (F&I) segment. He noted LATAM is seasonally weaker in Q2, while Texture and Healthful Solutions (THS) is expected to perform in line with full-year guidance. Gray added that while lower corn costs could be a slight Q4 upside, the company is over 80-85% hedged, which reduces volatility and improves pricing predictability for customers.

    Ask Fintool Equity Research AI

    Pooran Sharma's questions to Ingredion (INGR) leadership • Q4 2024

    Question

    Pooran Sharma asked for more detail on the specific levers that drove the 'Cost to Compete' program's outperformance in its first year and the biggest opportunities for 2025. He also inquired about the outlook for net corn costs given recent market volatility and drought concerns.

    Answer

    President and CEO Jim Zallie explained that year-one savings were driven by organizational streamlining aligned with the new strategy, while year-two savings will primarily come from strategic network optimization, including the closure of three smaller facilities. EVP and CFO Jim Gray added that their extensive hedging practices for firm, flat-rate price contracts have significantly reduced value-at-risk from corn price movements, providing good visibility for the first half of 2025.

    Ask Fintool Equity Research AI

    Pooran Sharma's questions to Murphy USA (MUSA) leadership

    Pooran Sharma's questions to Murphy USA (MUSA) leadership • Q2 2025

    Question

    Pooran Sharma of Stephens Inc. inquired about the increased confidence in achieving the 40-store build target for the year and the changes in the store development program. He also asked about the overall demand environment and the company's flexibility to manage costs in the second half of the year.

    Answer

    President, CEO & Director Andrew Clyde attributed the confidence in store builds to clearing supply chain and permitting bottlenecks and having a robust pipeline with many stores already under construction. EVP & CFO Gallagher Jeff noted the total pipeline now exceeds 250 stores. Regarding costs, Andrew Clyde and EVP & COO Mindy West detailed multiple levers for cost control, including optimizing labor rates, improving maintenance efficiency, and managing loss prevention, emphasizing that these efforts are sustainable and core to their low-cost operating model.

    Ask Fintool Equity Research AI

    Pooran Sharma's questions to Murphy USA (MUSA) leadership • Q2 2025

    Question

    Pooran Sharma of Stephens Inc. inquired about the company's confidence in achieving its 40-store build target for the year and what has changed in the store build program. He also asked about the degree of cost flexibility available in the second half to offset a weaker demand environment.

    Answer

    President, CEO & Director, Andrew Clyde, attributed confidence in the store build to clearing bottlenecks and having a large number of stores already under construction. EVP & CFO, Gallagher Jeff, highlighted that the new store pipeline exceeds 250 sites and recent builds are outperforming pro forma. Regarding cost flexibility, Andrew Clyde and EVP & COO, Mindy West, detailed multiple levers, including optimizing labor rates and hours, improved loss prevention, and maintenance efficiencies, which are already yielding results and are expected to be sustainable.

    Ask Fintool Equity Research AI

    Pooran Sharma's questions to Murphy USA (MUSA) leadership • Q1 2024

    Question

    Pooran Sharma questioned if the new store build pace would be more evenly distributed this year and asked about the company's confidence in increasing promotional spending in the second half.

    Answer

    CEO Andrew Clyde stated that the store build plan will remain significantly second-half weighted in 2024, with a goal for a more even pace next year. He and CFO Galagher Jeff expressed high confidence in promotional effectiveness, citing strong results from targeted digital offers that create a 'win-win-win' for Murphy, consumers, and CPG manufacturers.

    Ask Fintool Equity Research AI

    Pooran Sharma's questions to PILGRIMS PRIDE (PPC) leadership

    Pooran Sharma's questions to PILGRIMS PRIDE (PPC) leadership • Q2 2025

    Question

    Pooran Sharma sought clarification on the limits of egg set growth without new hatchery investments. He also asked if the industry would need deeper seasonal production cuts in the fall and winter compared to the previous year.

    Answer

    President & Global CEO Fabio Sandri reiterated that hatchery capacity is the main bottleneck, and the industry is focused on improving hatchability with the current, higher-performing breeds rather than reverting to older ones. He stated that expected Q4 seasonal production cuts would be normal and in line with historical patterns, matching production to customer demand, especially as beef and pork availability is expected to tighten.

    Ask Fintool Equity Research AI

    Pooran Sharma's questions to PILGRIMS PRIDE (PPC) leadership • Q1 2025

    Question

    Pooran Sharma questioned the market dynamics for chicken wings, asking why prices were weak compared to other parts of the bird. He also asked if management was concerned about the recent increase in cold storage levels for breast meat.

    Answer

    CEO Fabio Sandri attributed weak wing prices to the consumer shift from foodservice to retail and menu substitutions away from high-priced wings last year. He expects prices to normalize with seasonal promotions. On cold storage, he noted the increase in breast meat was partly due to foodservice operators building inventory ahead of anticipated price hikes, while inventories for other items remain low. He added that overall production growth remains constrained by industry-wide hatchability and mortality issues.

    Ask Fintool Equity Research AI

    Pooran Sharma's questions to PILGRIMS PRIDE (PPC) leadership • Q4 2024

    Question

    Pooran Sharma asked for an update on the ongoing industry-wide hatchability and livability challenges, including potential fixes and timelines. He also inquired about the impact of recent arctic weather on Q1 production.

    Answer

    CEO Fabio Sandri explained the hatchability issue stems from a new, higher-yielding breed that is difficult to manage on the live side. He stated there is 'no silver bullet' for a quick fix, as it requires significant, time-consuming changes to animal handling and housing structures. He characterized the recent cold weather as a temporary disruption without a significant long-term impact, thanks to the company's geographic diversification.

    Ask Fintool Equity Research AI

    Pooran Sharma's questions to PILGRIMS PRIDE (PPC) leadership • Q3 2024

    Question

    Pooran Sharma asked for a review of the typical seasonality in the Mexico business and current market trends. He also inquired about Pilgrim's specific operational efficiency improvements in the U.S. and if they are outpacing industry hatch rates.

    Answer

    President and CEO Fabio Sandri explained that Q3 is a seasonally weaker quarter in Mexico, and this year's results reflected a return to those normal trends. CFO Matthew Galvanoni added that the nearly 10% EBITDA margin was still a strong result. Regarding U.S. efficiency, Sandri noted that Pilgrim's is testing new breeder management techniques, like separating birds by weight, which is yielding hatchability improvements slightly ahead of the industry average.

    Ask Fintool Equity Research AI

    Pooran Sharma's questions to Bunge Global (BG) leadership

    Pooran Sharma's questions to Bunge Global (BG) leadership • Q2 2025

    Question

    Pooran Sharma of Stephens Inc. inquired about Bunge's Q2 soy crush performance by region, the outlook for the second half considering the recent RVO, and any updates on potential Small Refinery Exemptions (SREs).

    Answer

    CEO Greg Heckman attributed the Q2 outperformance to strong processing margins in South and North America in late June, driven by higher vegetable oil values. He provided a global soy outlook, noting expectations for a better second half in Brazil. CFO John Neppl added that a decision on SREs is anticipated in August or September, expressing confidence that the administration understands their potential impact on the RVO.

    Ask Fintool Equity Research AI

    Pooran Sharma's questions to Bunge Global (BG) leadership • Q1 2025

    Question

    Pooran Sharma asked about the outlook for farmer selling in South America and its impact on crush margins, as well as the strategic fit of the remaining wheat milling business after the corn milling divestiture.

    Answer

    CEO Greg Heckman noted that farmer selling has recently picked up in Argentina, improving margins, while a large crop in Brazil should support value chain performance. He confirmed the remaining business will be South American wheat milling, which he described as a competitive, long-term fit that integrates well with the Viterra assets and Bunge's global supply chain. CFO John Neppl affirmed this would be the only remaining milling operation.

    Ask Fintool Equity Research AI

    Pooran Sharma's questions to Bunge Global (BG) leadership • Q4 2024

    Question

    Pooran Sharma requested more detail on the timing of the 2024 take-or-pay impacts in South America and asked how Bunge is positioned for potential trade disruptions compared to the 2018 trade war.

    Answer

    CEO Gregory Heckman clarified that the take-or-pay issue was an industry-wide headwind throughout 2024, accelerating in Q4. He asserted that Bunge is a 'very different company' today than in 2018, with a more agile global operating model and an improved asset platform, making it much better positioned to react to and manage trade flow shifts.

    Ask Fintool Equity Research AI

    Pooran Sharma's questions to DARLING INGREDIENTS (DAR) leadership

    Pooran Sharma's questions to DARLING INGREDIENTS (DAR) leadership • Q2 2025

    Question

    Pooran Sharma of Stephens Inc. sought more detail on the updated guidance, specifically the assumed contribution from DGD in the second half, and asked about the SAF market opportunity and operational challenges in Europe.

    Answer

    CEO Randall Stuewe explained that guidance reflects an accelerating core ingredients business, while the DGD contribution remains a 'timing issue' dependent on the RIN market's reaction to regulatory clarity. On European SAF, CFO Robert Day acknowledged the complexities of varying feedstock and certification requirements but noted the upcoming DGD turnaround provides an opportunity to optimize the supply chain for these markets.

    Ask Fintool Equity Research AI

    Pooran Sharma's questions to DARLING INGREDIENTS (DAR) leadership • Q4 2024

    Question

    Pooran Sharma requested insight into the Diamond Green Diesel dividend outlook for 2025, given the JV is debt-free and had a large January distribution. He also asked for more details on the SAF opportunity, including production costs and commercial progress.

    Answer

    Retiring CFO Brad Phillips stated that while monthly distributions are variable, he expects total 2025 distributions, including monetized tax credits, to exceed 2024 levels. COO of North America Matt Jansen affirmed Darling's strong cost position in SAF production and noted robust demand from the U.S. and Europe for 2025-2026, with many contracts not publicly announced.

    Ask Fintool Equity Research AI

    Pooran Sharma's questions to CASEYS GENERAL STORES (CASY) leadership

    Pooran Sharma's questions to CASEYS GENERAL STORES (CASY) leadership • Q4 2025

    Question

    Pooran Sharma requested clarification on the operating expense guidance for fiscal 2026, specifically the cadence following the expected mid-teens increase in Q1. He also asked about the strategy for store expansion, questioning the preference for M&A versus new builds given the current cost environment.

    Answer

    CFO Steve Bramlage explained the OpEx cadence is driven by lapping the FICS acquisition; Q1 and Q2 will see mid-teens growth, while Q3 will be low-single-digit as it cycles one-time deal costs from the prior year. CEO Darren Rebelez stated that M&A has recently been more effective due to high construction costs, allowing Casey's to acquire and remodel stores below replacement cost. However, he affirmed the company maintains flexibility with a developed land bank to lean into organic growth if conditions change.

    Ask Fintool Equity Research AI

    Pooran Sharma's questions to CASEYS GENERAL STORES (CASY) leadership • Q4 2025

    Question

    Pooran Sharma requested an explanation for the expected cadence of operating expenses in FY26, given the high Q1 growth forecast versus the lower full-year guidance. He also asked about the strategic preference between M&A and new store construction for unit growth.

    Answer

    CFO Steve Bramlage explained that the OpEx cadence is driven by lapping the FICS acquisition, with mid-teens growth in H1 and low-single-digit growth in H2 as one-time deal costs are cycled. President and CEO Darren Rebelez stated that M&A has recently been more effective due to high construction costs, but the company's base plan assumes a 50/50 split between acquisitions and new builds, allowing for flexibility.

    Ask Fintool Equity Research AI