It would be interesting to get some commentary from ARB on the likely effects of the Trump tariffs on ARB's US business.
Looking at the 1H/2024 HY report segment information 'USA' accounted for around A$39m in revenues out of a total of A$367m, or about 11% of total revenues for the period, whereas 'ARB Export Sales' to 'The Americas' increased by 18.7% YoY making it the fastest growing export sales region, the vast majority of which you would have to assume was generated in the USA. This shouldn't be surprising given the recent investments into 4WP & ORW.
The question is what are they selling in the USA and where is it being sourced from...If it's all bullbars from Thailand attracting a 36% tariff it could be an issue, but then again having manufacturing facilities in Australia gives ARB some optionality as to where the source their US exports from...shifting production from Thai to AUS would lower the tariff from 36% to 10%, and import from Thai to the AUS market to cover any local shortfall... Maybe another option might be to import partially finished goods from Thailand, add some fluff in Australia and then re-export it to the US, which may end up giving them a cost advantage over products being manufactured in say Mexico or Canada?
IMO the greatest effect on ARB's US markets would be a reduction in sales of new pickups and 4WD's in the US and a subsequent fall in demand for ARB products to pimp them with.
It will no doubt be a very complicated task to estimate the results of all of this and I wouldn't be surprised to see a modest profit downgrade from ARB which could weigh on the share price in the short term, but in the longer term it may provide a buying opportunity for a stock that has been relatively expensive for a very long time.
DYOR&GLTAH!!!
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$30.65 |
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-0.720(2.30%) |
Mkt cap ! $2.548B |
Open | High | Low | Value | Volume |
$31.37 | $31.37 | $30.16 | $4.795M | 156.7K |
Buyers (Bids)
No. | Vol. | Price($) |
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1 | 2000 | $30.59 |
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Price($) | Vol. | No. |
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View Market Depth
No. | Vol. | Price($) |
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1 | 246 | 30.500 |
1 | 330 | 30.150 |
1 | 195 | 30.010 |
9 | 1156 | 30.000 |
1 | 32 | 29.990 |
Price($) | Vol. | No. |
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30.800 | 1000 | 1 |
31.370 | 34 | 1 |
31.900 | 33 | 1 |
32.120 | 94 | 1 |
32.450 | 57 | 1 |
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