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Weber マネジメント
マネジメント 基準チェック /14
主要情報
Alan Matula
最高経営責任者
US$1.6m
報酬総額
| CEO給与比率 | 35.59% |
| CEO在任期間 | less than a year |
| CEOの所有権 | 0.04% |
| 経営陣の平均在職期間 | less than a year |
| 取締役会の平均在任期間 | 1.6yrs |
経営陣の近況
Recent updates
Seeking Alpha • Feb 09
Weber GAAP EPS of -$0.50 misses by $0.34, revenue of $164.89M misses by $41.45M
Weber press release (NYSE:WEBR): Q1 GAAP EPS of -$0.50 misses by $0.34. Revenue of $164.89M (-41.7% Y/Y) misses by $41.45M.Seeking Alpha • Dec 13
Weber FQ4 2022 Earnings Preview
Weber (NYSE:WEBR) is scheduled to announce FQ4 earnings results on Wednesday, December 14th, before market open. The consensus EPS Estimate is -$0.35 and the consensus Revenue Estimate is $209.01M (-40.3% Y/Y). Over the last 3 months, EPS estimates have seen 0 upward revisions and 0 downward. Revenue estimates have seen 0 upward revisions and 1 downward.Seeking Alpha • Oct 24
Weber jumps 18% after BDT Capital $6.25/share takeover offer
Weber (WEBR) soared 18% in after hours trading after BDT Capital offered to buy the grill maker for $6.25/share in cash. BDT Capital reported a stake of 88.9% in Weber (NYSE:WEBR) and offered to buy the remainder of shares it doesn't already own for $6.25/share, according to a 13D filing. The offer would represent a 24% premium to Weber's closing price on Monday. The filing comes after Street Insider reported earlier this month that the grill maker received a takeover approach from a private equity firm. After the Street Insider report Bloomberg published a story that said Weber Weber was said to be evaluating debt financing from BDT Capital Partners. Weber (WEBR) short interest is 47%.Seeking Alpha • Oct 11
Weber jumps 13% on report about possible takeover approach
Popular Grill maker Weber Inc. (NYSE:WEBR) soared 14% after a report that the company received a takeover approach from a private equity firm. Weber is said to have hired Centerview to review its options following the bid, according to a Street Insider report, that cited one unidentified source. Weber (WEBR) shares have plunged 46% since the grill maker went public last August. Weber in July announced the departure of its CEO and the installation of Chief Technology Officer Alan Matula as interim CEO. The company also withdrew its full year sales and earnings guidance after reporting slowing preliminary sales. Shares of competitor Traeger (COOK) rose 2% likely in sympathy with the Weber (WEBR) takeover speculation. Weber (WEBR) short interest is 49%.Seeking Alpha • Oct 03
Weber Faces Sharp Industry Downturn
Summary Weber went public in August 2021, raising approximately $250 million in gross proceeds in a U.S. IPO. The firm sells outdoor grilling equipment and related products worldwide. WEBR has experienced sharp contraction in consumer demand for various reasons as well as high input inflation, has a large debt load and faces macroeconomic headwinds. I'm on Hold for WEBR for the near term. A Quick Take On Weber Weber (NYSE:WEBR) went public in August 2021, raising approximately $250 million in gross proceeds from an IPO that priced at $14.00 per share. The firm sells food grilling products and related accessories to consumers worldwide. Given the firm’s contracting performance across major financial metrics, its high cost structure and macroeconomic headwinds, my outlook for the stock is a Hold for the near term. Weber Overview Palatine, Illinois-based Weber was founded nearly 70 years ago to sell a wide variety of grills and related technologies to consumers in over 75 countries worldwide. Management is headed by interim Chief Executive Officer Alan Matula, who has been with the firm as Chief Technology Officer and Chief Information Officer and was previously CIO at Royal Dutch Shell plc. The company’s primary offerings include: Charcoal grills Gas grills Smokers Pellet grills Electric grills Weber Connect technology-enabled grills The firm pursues an omni-channel strategy, selling through distributors, to large retailers, both offline and online, as well as direct-to-consumer. Management says that its direct-to-consumer channel has been the fastest growing channel since 2018. Weber’s Market & Competition According to a 2019 market research report by Grand View Research, the global market for barbeque grills was an estimated $4.8 billion in 2018, and is forecast to reach $7 billion by 2025. This represents a forecast CAGR of 4.5% from 2019 to 2025. The main drivers for this expected growth are a rising trend of cookouts on weekends and holidays as well as younger demographics driving growth. Also, below is a chart showing the recent historical and projected future growth trajectory of the U.S. grill market: U.S. Barbeque Grill Market (Grand View Research) Major competitive or other industry participants include: Traeger Kingsford Dansons Blackstone Big Green Egg Broil King Campingaz Char-Broil Landmann Napoleon Nexgrill Pit Boss Ziegler & Brown Others Weber’s Recent Financial Performance Total revenue by quarter has produced the following results: 9 Quarter Total Revenue (Seeking Alpha) Gross profit by quarter has produced similar results as that of total revenue: 9 Quarter Gross Profit (Seeking Alpha) Selling, G&A expenses as a percentage of total revenue by quarter have fluctuated as follows: 9 Quarter Selling, G&A % Of Revenue (Seeking Alpha) Operating income by quarter has worsened in recent quarters: 9 Quarter Operating Income (Seeking Alpha) (All data in above charts is GAAP) Over the past 12 months, WEBR’s stock price has fallen 61.7% vs. the U.S. S&P 500 index’s drop of around 15%, as the chart below indicates: 52 Week Stock Price (Seeking Alpha) Valuation And Other Metrics For Weber Below is a table of relevant capitalization and valuation figures for the company: Measure [TTM] Amount Enterprise Value / Sales 0.86 Revenue Growth Rate -11.6% Net Income Margin -5.0% GAAP EBITDA % -5.9% Market Capitalization $1,890,000,000 Enterprise Value $1,510,000,000 Operating Cash Flow -$263,200,000 Earnings Per Share (Fully Diluted) -$3.51 (Source - Seeking Alpha) As a reference, a relevant partial public comparable would be Traeger (COOK); shown below is a comparison of their primary valuation metrics: Metric Traeger Weber Variance Enterprise Value / Sales 1.06 0.86 -18.9% Revenue Growth Rate 4.6% -11.6% --% Net Income Margin -34.6% -5.0% -85.5% Operating Cash Flow -$74,670,000 -$263,200,000 252.5% (Source - Seeking Alpha) A full comparison of the two companies’ performance metrics may be viewed here. Commentary On Weber In its last earnings call (Source - Seeking Alpha), covering FQ3 2022’s results, management highlighted the recognition of the Weber brand as a global leader in outdoor cooking products. However, given the rapid change in consumer demand post-pandemic and in the face of high inflation, new interim CEO Alan Matula outlined a variety of steps the firm is taking, including ‘remov[ing] management layers and organiz[ing] into vertical cross-functional orientation in each outdoor cooking category.’ But, the firm is facing contracting demand from consumers, with significantly reduced foot traffic into retailers along with lowered spending due to a variety of reasons. As a result, the Board has suspended the company's dividend and management has instituted reductions in capital spending and begun a headcount reduction of 10% at all levels of the organization.Seeking Alpha • Aug 22
Weber: New Management Plan Could Be A Game Changer, But There Are Risks
With more than 70 years of operation, Weber presents itself as the first brand and the global category leader in outdoor cooking. In my view, if management successfully reshapes the organization, many new investors could become interested in the new company starting in 2023. The sale of assets and divisions could bring a lot of cash to WEBR. In my view, if management is smart, it may decide to acquire competitors in Europe or Asia. Weber Inc. (WEBR) owns the most valuable brands in the outdoor cooking industry. Besides, in a recent quarterly report, management announced a plan that would enhance future cash flow generation thanks to sale of assets and reduction in contractual obligations. In my view, if the plan is successful, we would be talking about a valuation of more than $12.3 per share. With that, let's note that the stock is not for everybody. Under my most unlikely and pessimist case scenario, I obtained a valuation that is significantly lower than $12.3 per share. Inflation, debt obligations, covenant agreements, and a decline in online traffic could be a disaster for the stock. In my view, investors need to understand the risks well. Weber Inc. Reports New Opportunities And A New Comprehensive Cash Flow And Cost Management Plan With more than 70 years of operation, Weber presents itself as the first brand and the global category leader in outdoor cooking. The company operates in the USA, Europe, Asia, and the Pacific region. The management has also announced that it has identified a significant number of opportunities in new regions. We have an immense opportunity to expand our relationship with the more than 50 million dedicated Weber consumers worldwide, as well as grow our reach in the near and long-term. Source: Press Release In my view, what will most likely interest investors is the new management plan recently announced for the years 2022 and 2023. I believe that management intends to reshape its balance sheet as well as to obtain cash to reduce its debt levels. Market participants will most likely appreciate the initiative, which includes significant cash generation for 2023. To strengthen our financial position for fiscal year 2023 and beyond, we are introducing a comprehensive cash flow and cost management plan. The core components of this plan include the suspension of its quarterly cash dividend, a focused reduction of COGS and SG&A expenses, a reduction in force that removes management layers in the organization, and the tightening of global inventory levels and working capital positions. Management believes these actions will result in at least $110 million of cash benefit, net of restructuring costs, in fiscal year 2023, with run-rate benefits beyond that. Source: Press Release WEBR Could Be Worth $9 Per Share Without The New Plan The Barbeque Grill Market size is expected to grow at close to 5.4% y/y. In this case scenario, I used this conservative figure to assess future sales growth. The Barbeque Grill Market size was valued at USD 5,608.7 million in 2021 and is forecast to grow by 5.4% over the forecast period. Source: BBQ Grills Market Size, Share, Trends Under sales growth of 5% y/y and $2.089 billion in sales in 2022, 2032 sales would stand at $3.5 billion. If we also assume growing EBITDA margin thanks to economies of scale and new products and services, I believe that 2032 EBIT could stand at 8.105%. Now, with a conservative effective tax rate of 22.5%, 2032 EBIAT would be $223 million. Author's Work Also, with conservative working capital and capex close to $58 million, free cash flow around $58.5 million appears reasonable. My FCF/Sales ratio would stand at about 4%-7%. I also used a discount of 5%. Finally, the NPV of future free cash flows would be close to 1.31 billion. Author's Work According to Seeking Alpha, peers trade at close to 13x EBIT. However, the new manufacturing facility in Poland will likely enhance future sales growth in Europe, and may push the multiples up. In this case, I used a valuation of 14.5x EBIT. SA With a terminal EV/EBITDA multiple of 14.5x, the net present value of the terminal multiple would stand at almost $2.5 billion. The implied enterprise value would stand at $3.7 billion. If we subtract the long-term debt, and add cash in hand, the equity value stands at $2.5 billion. Finally, the equity per share would be $9 per share. Author's Work Successful Resale Of Certain Assets And Divisions As Well As Acquisition Of Other Companies In Europe And Asia Would Imply A Valuation Of $12.3 Recently, traders learned that WEBR commenced to do several changes to the Board of Directors, and decided to run a restructuring program. The election of a new CTO, in July 2022, clearly indicated that something could happen. According to the most recent quarterly release, the restructuring program would include disposal of certain assets and perhaps the sale of certain non-manufacturing and distribution divisions. In my view, if management successfully reshapes the organization, many new investors could become interested in the new company starting from 2023. In this case, I assume that everything will work as expected. In addition, on August 12, 2022, the Board approved a restructuring plan, which included the termination of other senior executives, a workforce reduction of our non-manufacturing and distribution headcount by at least 10%, the termination of certain lease and other contractual obligations, and the disposal of certain other assets. We expect to substantially complete the restructuring plan by the first quarter of fiscal year 2023. Source: 10-Q Sale of assets and divisions could bring a lot of cash to WEBR. In my view, if management is smart, it may decide to acquire competitors in Europe or Asia, which could generate significant sales growth. Assuming sales growth of 7.5% y/y, I believe that 2032 revenue of around 4.33 billion could work. Acquisitions could also increase the number of clients, and may push the EBIT margin up. In the best case scenario, I assumed an EBIT margin of 10%, so that 2032 EBIAT could reach $343 million. Author's Work With capital expenditures around $85 million and growing D&A, I obtained FCF/Sales close to 8%. With a discount of 5%, the net present value of future free cash flow would be $1.805 billion. Author's Work I assumed that the EV/EBIT will likely increase in the next ten years thanks to acquisitions, like that of RMC or June Life, Inc. In this case, with successful redesign of the business structure, I believe that an EV/EBIT of 15x could work. My results, assuming an increase in shares outstanding to buy other companies, would include an equity per share valuation of $12.3. Author's Work If The New Plan Fails, The Implied Fair Price Could Even Reach $3.3 Per Share Or Lower分析記事 • Aug 17
Estimating The Intrinsic Value Of Weber Inc. (NYSE:WEBR)
Today we'll do a simple run through of a valuation method used to estimate the attractiveness of Weber Inc. ( NYSE:WEBR...Seeking Alpha • Aug 15
Weber reports Q3 results
Weber press release (NYSE:WEBR): Q3 GAAP EPS of -$0.41. Revenue of $527.94M (-21.1% Y/Y) beats by $1.1M.Seeking Alpha • Jul 25
Weber tumbles on guidance withdrawal, CEO exit and Q3 prelim below consensus
Weber (NYSE:WEBR) stock slid sharply pre-market on Monday after withdrawing its FY 2022 sales and earnings guidance based on panic across the consumer sector through inflationary and supply chain pressures. This is where we are talking about net sales annual guidance of $1.65-$1.80B and Adjusted EBITDA guidance of $140-$180M. The Illinois-based household appliances company also announced the departure of its CEO Chris Scherzinger effective immediately. Chief technology officer Alan Matula is currently being appointed as interim CEO while the firm carries out its search for Scherzinger's successor. The update also include Q3 preliminary estimates' release: Weber said it expects third quarter sales to be in the range of $525M to $530M, down from consensus of $532.74M. The firm explained sales was affected from slower retail traffic, both in-store and online and these "market headwinds are expected to continue into the fiscal fourth quarter of 2022." Adjusted EBITDA to be marginally profitable, which is materially lower than the internal budget related to the previously announced fiscal year 2022 Adjusted EBITDA guidance, report. The company also expects to have a net loss in the period ending June 30, 2022 since profitability was negatively impacted by "significant" currency devaluations within the quarter, higher costs, and lower margin country. Weber's final Q3 2022 earnings call is scheduled for Aug 15, 2022. WEBR shares are down 21% at the current pixel time premarket to trade at $5.90. Earlier: Shares of heavily-shorted Weber heat up on ThursdaySeeking Alpha • Jun 27
Weber Bulls Challenge Bears To Grill Off Competition
A recent 60% price spike higher in Weber shares has been accompanied by an increase in volume to turn the heat up on this outdoor grill manufacturer. Bulls may be betting on a near 100% short utilization rate, with a 50% borrow fee to contribute to the hope for a continued squeeze of the bears. Bulls also have the fickle tailwind of a bear market rally at their backs currently. In this environment, we are seeing oversold stocks bouncing sharply higher for the moment. Bears may be betting on the ongoing supply chain issues, and inflationary pressures that drove cost inputs higher for Weber in the recent Q2 2022 report that largely disappointed. Moody's sees solid growth from Weber into 2023 to service its debt, but there are signs of a weakening consumer now that could negatively impact revenues. Moody's has downgraded Weber's debt.Seeking Alpha • Apr 27
Weber: More Attractive After The Pullback
Weber aims to establish an outdoor cooking products and services ecosystem. The company entered the public markets via IPO in August 2021, with a sizable stock price decline following during the following months. Weber currently trades at a relatively attractive valuation.Seeking Alpha • Feb 19
Weber Reported Strong Quarterly Momentum And Appears Undervalued
Weber presents itself as the leading outdoor cooking company in the global outdoor cooking market. Even navigating a period of inflation and supply chain challenges in the quarter, management noted strong momentum thanks to new product innovations. If management is successful in making changes in its manufacturing and transportation processes, we could see a significant increase in Weber’s fair value. What matters the most, in my view, is the recent guidance given by management, which includes Adjusted EBITDA between $275 million and $325 million. With recent acquisitions and a new manufacturing hub in Europe, I would be expecting both inorganic and organic growth.Seeking Alpha • Dec 30
If I Have To Buy One Player In The Outdoor Cooking Market, It's Weber Inc. - Here's Why
Weber Inc. went public in August 2021, raising $250,000. In 2022, the overall outdoor cooking market will be challenged to increase unit sales while balancing continued supply chain issues. However, Weber is the only outdoor cooking brand with a significant global scale in both manufacturing and distribution, giving it a key advantage. If I have to buy one player in this market, it's Weber.分析記事 • Nov 17
A Look At The Fair Value Of Weber Inc. (NYSE:WEBR)
In this article we are going to estimate the intrinsic value of Weber Inc. ( NYSE:WEBR ) by taking the expected future...Seeking Alpha • Oct 21
Weber: Bringing The Heat To The Street
Weber is the world leader in outdoor cooking products. Weber is vertically integrated with its multi-national manufacturing platform. The company effectively uses its leadership position and industry expertise to maintain its dominance. EPS guidance is expected with the full FY 2021 reports. Currently the stock can be purchased near its IPO price.Seeking Alpha • Aug 07
Weber: On Fire
Weber's shares have come very strong out of the gate, after a softer pricing process. The company is awarded a huge valuation multiple and carries quite some debt. I like the iconic brand and current momentum, but valuations are simply far too high here.CEO報酬分析
| 日付 | 総報酬 | 給与 | 会社業績 |
|---|---|---|---|
| Dec 31 2022 | n/a | n/a | -US$118m |
| Sep 30 2022 | US$2m | US$574k | -US$74m |
報酬と市場: Alanの 総報酬 ($USD 1.61M ) は、 US市場 ($USD 5.47M ) の同様の規模の企業の平均を下回っています。
報酬と収益: Alanの報酬と会社の業績を比較するにはデータが不十分です。
CEO
Alan Matula (62 yo)
less than a year
在職期間
US$1,611,475
報酬
Mr. Alan D. Matula served as Interim Chief Executive Officer at Weber Inc. since July 24, 2022 until December 16, 2022 and serves as its Chief Executive Officer since December 16, 2022. Since March 2022, M...
リーダーシップ・チーム
| 名称 | ポジション | 在職期間 | 報酬 | 所有権 |
|---|---|---|---|---|
| Chief Executive Officer | less than a year | US$1.61m | 0.044% $ 1.0m | |
| Chief Operations Officer | 1.3yrs | US$1.38m | 0.035% $ 817.3k | |
| Senior VP of Global Brand & Consumer Experience | 1.5yrs | US$3.07m | 0.062% $ 1.5m | |
| President of Weber EMEA | 1.2yrs | US$1.31m | 0.043% $ 1.0m | |
| President of Weber Americas | no data | US$1.07m | 0.018% $ 433.7k | |
| Senior VP of Finance & Interim CFO | less than a year | データなし | データなし | |
| General Counsel & Secretary | less than a year | データなし | 0.010% $ 239.9k | |
| Global Controller | less than a year | データなし | 0.12% $ 2.9m |
0.7yrs
平均在職期間
52yo
平均年齢
経験豊富な経営陣: WEBRの経営陣は 経験豊富 とはみなされません ( 0.7年の平均在職年数)。これは新しいチームを示唆しています。
取締役
| 名称 | ポジション | 在職期間 | 報酬 | 所有権 |
|---|---|---|---|---|
| Independent Director | 1.6yrs | US$208.22k | 0.017% $ 389.9k | |
| Independent Director | 1.6yrs | US$247.65k | 0.035% $ 826.7k | |
| Independent Director | 1.6yrs | US$208.22k | 0.017% $ 389.9k | |
| Director | 1.6yrs | US$711.45k | 0.017% $ 389.9k | |
| Independent Director | 1.6yrs | US$217.38k | 0.012% $ 273.0k | |
| Independent Director | 1.6yrs | US$232.65k | 0.017% $ 389.9k | |
| Non-Executive Chair | 1.6yrs | US$147.33k | 0.28% $ 6.6m |
1.6yrs
平均在職期間
64yo
平均年齢
経験豊富なボード: WEBRの 取締役会 は 経験豊富 ではない ( 1.6年の平均在任期間) ため、新しい取締役会が必要であると考えられます。
企業分析と財務データの現状
| データ | 最終更新日（UTC時間） |
|---|---|
| 企業分析 | 2023/02/22 18:21 |
| 終値 | 2023/02/17 00:00 |
| 収益 | 2022/12/31 |
| 年間収益 | 2022/09/30 |
データソース
企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。
| パッケージ | データ | タイムフレーム | 米国ソース例 |
|---|---|---|---|
| 会社財務 | 10年 |
| |
| アナリストのコンセンサス予想 | +プラス3年 |
|
|
| 市場価格 | 30年 |
| |
| 所有権 | 10年 |
| |
| マネジメント | 10年 |
| |
| 主な進展 | 10年 |
|
* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。
特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。
分析モデルとスノーフレーク
本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。
シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。
業界およびセクターの指標
私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。
アナリスト筋
Weber Inc. 6 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。6
| アナリスト | 機関 |
|---|---|
| Simeon Siegel | BMO Capital Markets Equity Research |
| Robert Ohmes | BofA Global Research |
| Wendy Nicholson | Citigroup Inc |