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■ 1 1 1 ur 018 ne I F 1 l i i ni 日 - kokkai Sea (NYSE:SE) is performing notably better than I - and arguably many market participants - have expected at the beginning of 2024. Around the beginning of the year, I pointed out that Sea's commercial growth momentum is struggling on multiple fronts. And accordingly, I assigned a "Sell" rating. However, my concerns have largely proven temporary. Indeed, Sea's Q2 2024 results exceeded expectations, with revenue growing 23% YoY and EBITDA hitting a 12% margin. Nota ...

Core Insights - Sea Limited is experiencing a significant recovery, with its stock approaching early 2023 highs, driven by improvements in its fintech and gaming businesses [4][10] - The e-commerce platform Shopee is on a path toward sustainable profitability, with management projecting adjusted EBITDA profitability by Q3 2024 and an upgraded GMV growth guidance to the mid-20% range [6][9] - SeaMoney, the fintech arm, has shown strong growth, with a loan portfolio increase to $3.5 billion, up nearly 40% year-over-year, indicating effective acquisition strategies [8] E-commerce Performance - Sea Limited's e-commerce revenue has seen a total change of 33.67% with a CAGR of 33.57%, accounting for nearly 75% of the company's revenue [5] - The company is focusing on improving its logistics and advertising capabilities, which has enhanced customer experience and monetization efforts [7][8] - Shopee's integration with logistics and fintech platforms is expected to provide a solid foundation for future investments and growth [8] Financial Metrics - Sea Limited's total revenue has increased by 22.97% with a CAGR of 22.90%, reflecting a strong recovery trajectory [5] - The company's valuation metrics indicate a forward adjusted PEG ratio of 0.83, nearly 40% below the sector median, suggesting it is not overvalued relative to its growth profile [9] Market Outlook - The stock has shown resilience, with a recent uptrend bias and potential for a breakout above early 2023 highs, supported by strong buying sentiments [10] - Despite the positive outlook, the company faces competitive pressures from players like Temu and TikTok, as well as potential regulatory scrutiny in key markets like Indonesia [9]

Core Viewpoint - Sea Limited (SE) has shown strong performance in FQ2'24, leading to a reiteration of the Buy rating due to robust revenue growth, improved guidance, and a favorable PEG ratio [1][2]. Financial Performance - SE reported revenues of $3.8 billion in FQ2'24, reflecting a 1.8% quarter-over-quarter (QoQ) increase and a 22.9% year-over-year (YoY) increase [2]. - Adjusted EBITDA was $448.5 million, up 11.8% QoQ but down 12% YoY [2]. - E-commerce gross orders reached 2.5 billion, showing a 3.8% QoQ decline but a 40.3% YoY increase [2]. Market Position - SE holds a leading e-commerce market share of 48% in Southeast Asia, with significant shares in key markets: Indonesia (40%), Thailand (49%), Vietnam (61%), and the Philippines (54%) [2]. - The company is experiencing growth in advertising revenues, contributing to a core marketplace revenue growth of $1.8 billion, which is up 5.8% QoQ and 41.4% YoY [2]. Growth Opportunities - Management has indicated "meaningful room" for expanding ad take rates, which are currently below industry averages in more mature markets [2]. - SE's R&D and marketing expenditures increased to $1.07 billion, up 37.8% YoY, aimed at enhancing ad bidding algorithms and improving returns on ad spend [2]. - The introduction of Live Ads has contributed to a 20% YoY growth in the advertising consumer base [2]. Future Guidance - SE expects Shopee to become adjusted EBITDA positive from Q3 2024 and has revised its full-year GMV growth guidance for 2024 to mid-20% [2]. - The consensus estimates project a CAGR of 16.1% for revenue and a CAGR of 77.6% for adjusted EPS through FY2026 [4]. Valuation Metrics - SE's forward non-GAAP P/E ratio is 41.70x, which appears high but is justified by a low PEG ratio of 0.53x, indicating a favorable valuation compared to peers [7][8]. - The projected adjusted EPS for FY2026 is $4.39, suggesting a potential doubling upside to a long-term price target of $183.00 [8].

■ 1 1 1 ur 018 ne I F 1 l i i ni 日 - kokkai Sea Limited (NYSE:SE) saw the strong trends in the first quarter continue into the second quarter, with all three businesses showing strong growth and improvement in profitability. Sea Limited continues to have an attractive business model, encompassing e-commerce, gaming and fintech. Management has been focusing on stabilizing and improving the business trends for the gaming business, while there continues to be a long runway for the e-commerce and fintech busine ...

Washington, D.C., Sept. 05, 2024 (GLOBE NEWSWIRE) -- On behalf of its clients Relentless Inc., Huntress Inc. and SeaFreeze Fleet LLC, the New Civil Liberties Alliance has filed an amicus curiae brief with the U.S. Court of Appeals for the D.C. Circuit in Loper Bright Enterprises v. Raimondo. Alongside NCLA's Relentless Inc. v. Dept. of Commerce lawsuit, this historic case defeated the Chevron doctrine. Now, NCLA urges the Court to overturn the National Oceanic and Atmospheric Administration (NOAA) and Natio ...

Group 1 - Proactive provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [1][2] - The news team operates from key finance and investing hubs including London, New York, Toronto, Vancouver, Sydney, and Perth [2] - Proactive focuses on medium and small-cap markets while also covering blue-chip companies, commodities, and broader investment stories [2][3] Group 2 - The team delivers news and insights across various sectors including biotech, pharma, mining, natural resources, battery metals, oil and gas, crypto, and emerging technologies [3] - Proactive adopts technology to enhance workflows and improve content delivery, utilizing decades of expertise [3][4] - All content published by Proactive is edited and authored by humans, ensuring adherence to best practices in content production and search engine optimization [4]

Vancouver, B.C., Sept. 04, 2024 (GLOBE NEWSWIRE) -- Trillion Energy International Inc. ("Trillion" or the "Company") (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62) is pleased to provide this production update for the SASB gas field. SASB revitalization program is off to a great start having realized the complete payback of recent perforation costs in just 35 days of production. In first phase of workover all remaining gas pay on the Akcakoca platform was perforated including three long reach deviated gas wells ...

Group 1 - Oceaneering International Inc. (OII) has secured multiple contracts in the U.K. North Sea region for decommissioning, inspection, subsea infrastructure preparation, and installation support services [1] - The contracts are expected to last for 65 days, with options for extension, and will be managed from Oceaneering's hub in Aberdeen, Scotland [2] - Operations are set to begin in August 2024, utilizing the Island Offshore multiservice vessel, Island Frontier, which has had its charter extended until December 2025 [3] Group 2 - The recent contracts signify Oceaneering's expansion into a key market and highlight its strong relationships with major clients in the U.K. North Sea region, showcasing its expertise and execution capabilities [4]

Sea Limited's (SE) shares have surged 100.6% year to date compared with the Zacks Computer & Technology sector's rise of 21.7%. The rise in stock price reflects investors' confidence in SE's portfolio strength and cost-management initiatives. However, the question the investors should now ask whether this bull run will continue for Sea Limited shares or not? SE Shares Rides on Decent Q2 Earnings Sea Limited reported decent second-quarter 2024 financial results, with revenues increasing 23% year over year to ...