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    Stephen Tusa

    Managing Director and Senior Equity Research Analyst at J.P. Morgan

    Stephen Tusa is a Managing Director and Senior Equity Research Analyst at J.P. Morgan, specializing in the industrials sector with additional coverage in technology, basic materials, and consumer cyclical industries. He is known for his analysis of major companies such as General Electric, 3M, Caterpillar, WESCO International, and Veralto, with a track record that includes a stock price target met ratio of approximately 73%, a success rate near 62%, and an average investor return of 5.8%. Tusa has issued over 548 ratings across more than 30 companies since beginning his analyst career in the early 2000s, and he has been with J.P. Morgan for much of his professional tenure, frequently appearing on CNBC for his market insights. He is registered with FINRA and holds relevant securities licenses for equity research analysts.

    Stephen Tusa's questions to ALTR leadership

    Stephen Tusa's questions to ALTR leadership • Q4 2023

    Question

    Questioned the rationale for the lower EBITDA margin expansion guided for 2024 compared to 2023 and asked about the company's competitive strategy as a standalone entity amid industry consolidation.

    Answer

    The reduced margin expansion in 2024 is due to increased investments in growth areas like sales and product development. Over the long term, margin growth is expected to be consistent with past trends. The company is open to all possibilities but feels it is well-positioned to compete effectively on its own.

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