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    Steve Hansen

    Managing Director and Senior Equity Research Analyst at Raymond James

    Steve Hansen is a Managing Director and Senior Equity Research Analyst at Raymond James, specializing in the Basic Materials sector with a focus on chemicals, transportation, agribusiness, and industrials. He covers a range of companies including Itafos Inc. and Methanex Corporation, and over his career has published more than 500 stock ratings with a success rate of 51% and an average return per rating of 2.2%, ranking him in the top third of Wall Street analysts by TipRanks. Hansen began his analyst career in 2013 and has since established himself as a recognized sector expert, regularly presenting at industry conferences. He holds key professional credentials including Canadian securities licensing and is widely regarded for his in-depth coverage and thought leadership in the public and private markets.

    Steve Hansen's questions to ALTA EQUIPMENT GROUP (ALTG) leadership

    Steve Hansen's questions to ALTA EQUIPMENT GROUP (ALTG) leadership • Q2 2025

    Question

    Asked about the margin profile and competitive environment for new Construction equipment, and the impact of rightsizing the rental fleet on utilization and rates.

    Answer

    Margins for new heavy construction equipment have stabilized, but compact equipment margins remain challenged due to market oversupply. On the rental side, fleet rightsizing has improved utilization, but it's still below the target of the high 60s. Rental rates are reported as stable.

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    Steve Hansen's questions to ALTA EQUIPMENT GROUP (ALTG) leadership • Q2 2025

    Question

    Steve Hansen of Raymond James questioned the margin profile for new Construction equipment, asking if the competitive environment was stabilizing. He also asked about the benefits of rightsizing the rental fleet, specifically regarding utilization and rental rates.

    Answer

    CFO Tony Colucci confirmed that margins are stabilizing, particularly for heavy equipment, though compact equipment remains challenged by market oversupply. He stated he does not expect margins to pull back further. Regarding the rental fleet, Tony Colucci noted that while utilization has improved due to the smaller fleet size, it remains below their target in the low 60% range. He described rental rates as stable.

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    Steve Hansen's questions to Nutrien (NTR) leadership

    Steve Hansen's questions to Nutrien (NTR) leadership • Q2 2025

    Question

    Steve Hansen from Raymond James asked a broad question about portfolio optimization, inquiring whether management sees further opportunities to streamline the business or divest non-core assets.

    Answer

    President & CEO Ken Seitz stated that the company is 'probably never done' evaluating its portfolio to optimize free cash flow per share. He pointed to recent actions, such as the ProFertil process and the divestiture of its stake in Sinafer, as evidence of this ongoing rigorous review. While not detailing future plans, he confirmed they are actively looking for opportunities to upgrade the portfolio.

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    Steve Hansen's questions to RB GLOBAL (RBA) leadership

    Steve Hansen's questions to RB GLOBAL (RBA) leadership • Q2 2025

    Question

    Steve Hansen asked about the M&A pipeline post-J.M. Wood, the impact of UK insurance carrier mergers, the historical range for catastrophe (CAT) event GTV, and progress on the enterprise customer strategy.

    Answer

    CEO Jim Kessler described the M&A focus as core business tuck-ins and international expansion. He views the UK merger as a market share opportunity. On CAT events, he noted the outcome is too variable to guide, ranging from zero to last year's high. For enterprise strategy, he highlighted providing a 'blended net recovery' through channels like Boom and Bucket as a key differentiator.

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    Steve Hansen's questions to METHANEX (MEOH) leadership

    Steve Hansen's questions to METHANEX (MEOH) leadership • Q2 2025

    Question

    Steve Hansen asked about the near-term integration priorities for the OCI assets and the company's view on China potentially rationalizing older methanol facilities.

    Answer

    President, CEO & Director Rich Sumner detailed integration priorities including systems integration and capturing $30 million in hard synergies within 18 months, with potential operational upside to follow. He noted that any rationalization of downstream olefin capacity in China would be a positive for methanol affordability and pricing.

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    Steve Hansen's questions to CANADIAN PACIFIC KANSAS CITY LTD/CN (CP) leadership

    Steve Hansen's questions to CANADIAN PACIFIC KANSAS CITY LTD/CN (CP) leadership • Q2 2025

    Question

    Steve Hansen of Raymond James asked for an opinion on the probability of the UP-NS deal getting approved and inquired about the performance of the Gemini partnership relative to initial expectations.

    Answer

    CEO Keith Creel stated the deal's probability depends on meaningful concessions to address the holistic impacts of a potential industry endgame. On the Gemini partnership, EVP & CMO John Brooks said the company is 'extremely pleased,' noting volumes ramped up faster than expected in Vancouver. EVP & COO Mark Redd added that the service allows building trains straight from the port to eastern destinations, creating a quality service plan.

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    Steve Hansen's questions to CANADIAN NATIONAL RAILWAY (CNI) leadership

    Steve Hansen's questions to CANADIAN NATIONAL RAILWAY (CNI) leadership • Q2 2025

    Question

    Steve Hansen asked about the recent change in the Chief Commercial Officer position, noting a perceived lack of continuity in the C-suite and questioning if the company is getting closer to having the right team.

    Answer

    CEO Tracy Robinson declined to comment on the specific personnel change but asserted that it is her responsibility to ensure the right team is in place to execute the company's strategy. She affirmed her confidence in the current team, stating, "We've got the right team and we're moving forward."

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