LatAm Transport and Capital Goods Daily Take-Off: WEG, EMBJ

研报英文原文证据摘录

LatAm Transport and Capital Goods Daily Take-Off: WEG, EMBJ

The announcement came a day after Embraer reported a

record 2Q26 backlog of US$34.5bn. According to FlightGlobal, ANA's stock exchange

filing suggests a list price of c.$640m for the order, with deliveries expected from

2029 to 2032. Potential Impact: Positive for Embraer. We estimate book-to-bill for

the year at 0.87-0.92, considering the guidance range.

WEG: Schneider Electric 2Q26: Strong H1 delivery with broad-based growth and

clear execution should drive upgrades and re-rating

Schneider delivered H1 2026 Adj EBITA 7% ahead of consensus on Q2 sales 5% ahead

with 19.3% margin in H1 (cons 18.6%) and 16.5% Q2 organic growth (cons 10.4%). The

growth was broad-based with strong DD growth in Data Centres supported by

Infrastructure, Industrial Automation and Buildings. Schneider now guides for 10-

13% organic sales growth (from 7-10%) and +70-100bps of organic EBITA margin

expansion (from +50-80bps). The implied adj. EBITA margin is c19.4-19.7%. VA

consensus is currently looking for 10.2% organic sales growth with 19.3% adj. EBITA

margin. Data centres demand (orders) up triple-digit in Q2 with North America

being the strongest region and a notable contribution from China & East Asia. Data

Centre & Network sales grew strong DD (with Networks up LSD within this). Link to

full note. Potential impact: Positive read through for WEG

WEG: Hitachi Q1: Profit growth in electric power appears likely

Revenue in the Energy segment achieved 37% YoY growth, bolstered by business

expansion and favorable foreign exchange impacts. Order momentum remains

robust, particularly for transmission equipment and European HVDC projects,

pushing the total Energy sector order backlog beyond JPY 10 trillion. OP guidance