Archive for August, 2012

Markel’s combined ratio improved in Q2 2012!

August 16th, 2012 Comments off

Markel Corporation (NYSE: MKL) released its Q2 2012 earnings and the most important news is certainly the improved combined ratio:

It’s down to a remarkable 87% instead of 103% in the same period last year!

Ok, this year’s quarter was „disaster-free” but nevertheless it seems that the US insurance market is improving.

60% of Markel’s stockholder’s equity is now invested in stocks. So Markel would profit directly from the next stock market upturn.

For more details and all the numbers have a look at the earnings call transcript at Seeking Alpha.

Book value/share, the most important metric to value an insurance company, improved also 7.9 % from $ 352.10 to $ 379.88 this year.

So Markel’s stock sells for 1.1 book value at yesterday’s price of $ 432.25.

Rather cheap isn’t it? A “buy rating” seems more than justified!

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Markel released its Q2 2012 results!

August 13th, 2012 Comments off

Markel Corp. (NYSE:MKL) one of the 2 companies this blog follows on a regular basis released its Q2 2012 earnings.

Have a look at a nice report!

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Colfax makes good progress integrating ESAB and Howden!

August 8th, 2012 Comments off

Colfax Corp (NYSE: CFX) published its Q2 2012 Earnings at the end of July.

The Earnings Call Transcript you can find here on Seeking Alpha.

Colfax in 2012 is very difficult to compare with last year but one thing is certain:

the Colfax Business System („CBS”) is at work restructuring and integrating rapidly the acquired ESAB and Howden businesses.

As Steve Simms, President and CEO explained, ESAB profitibility was modestly ahead of internal expectations driven by aggressive SG&A restructuring, global sourcing, plant consolidations and improved pricing.

A „CBS” culture will be established and for example by year end they will implement a streamline global functional organizational structure, eliminate five high cost manufacturing locations and rationalize corporate overhead as well as overall SG&A

As Management points out  – regarding Colfax Corp. as a whole – organic growth of 10% suggest the businesses are performing well in their respective end markets. Furthermore, with over 60% of revenues now in high growth regions and strong positions in attractive end markets such as power, energy and mining, they remain optimistic about the prospects for long-term growth.

… already at year end Colfax Corp should be worth a lot more than today … what about picking up some shares?

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