Position doing the winning: current wins credited to a standing already held, with more arriving over it
The model's full reasoning — Q3 2022 call → NOWe need to determine if management explains current wins as flowing from a standing the company already holds, and if further business is arriving over that same standing. Key points from transcript: - Lithium battery materials: They have secured lithium and nickel resources, and have investments in Argentina, Gwangyang, etc. They mention "we have secured critical materials for EV materials such as lithium and nickel" and "the third quarter has indeed been a period mix with opportunities." They talk about investments and construction, but are they describing current wins? They mention "we have had two major decisions" for investments, but that's about future capacity. They talk about cathode business: "the N65 price went up and also the sales volume increase" and "we increased the volume to European EVs and also we started to supply to domestic ESS" - that sounds like current wins. But is that due to a standing? They have existing plants and customer relationships? They mention "we have been working with battery companies through strategic partnerships" for certification. But the question is about whether they credit a standing already held for current wins and that more is arriving over that standing. Let's look for explicit statements. Management says: "For POSCO, which has secured critical materials for EV materials such as lithium and nickel, the third quarter has indeed been a period mix with opportunities." That's more about having resources. But do they say current wins are because of that? They mention "we have secured critical materials" but that's about supply security, not necessarily winning orders. They talk about lithium hydroxide production in Argentina and Gwangyang, but those are under construction. For current wins, they mention cathode sales volume increase and supply to European EVs and domestic ESS. Is that attributed to a standing? They don't explicitly say "because we have this plant" or "because we have this qualification." They might be implying it, but we need explicit causal story. Also, they mention "we have been working with battery companies through strategic partnerships" - that's an effort, not a standing. For steel business, they talk about flood recovery, not about winning business.
| Ticker | Company | Call | Date | Call grade |
|---|---|---|---|---|
| NICE | NICE Ltd. | Q4 2023 | 2024-02-22 | B+ |
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| POOL | Pool Corporation | Q4 2022 | 2023-02-16 | C+ |
| EXFY | Expensify, Inc. | Q2 2022 | 2022-08-12 | D |
| HLIO | Helios Technologies, Inc. | Q1 2022 | 2022-05-10 | C |
| BXP | Boston Properties, Inc. | Q1 2022 | 2022-05-03 | A |
| GFS | GLOBALFOUNDRIES Inc. | Q3 2021 | 2021-11-30 | A |
| WMB | The Williams Companies, Inc. | Q3 2021 | 2021-11-02 | B |
| PRIM | Primoris Services Corporation | Q2 2018 | 2018-08-11 | C+ |
| ORAN | Orange SA | Q2 2018 | 2018-07-26 | B |
| ROK | Rockwell Automation, Inc. | Q4 2017 | 2017-11-08 | C |
| MKTX | MarketAxess Holdings Inc. | Q3 2017 | 2017-10-25 | C+ |
| LEA | Lear Corporation | Q2 2017 | 2017-07-26 | B+ |
| HPP | Hudson Pacific Properties, Inc. | Q4 2015 | 2016-02-25 | C |
EXFY · Q2 2022 → YESThe question is about whether management credits a standing the company already holds as the reason they're currently winning business, and that more is arriving over that same standing without a new ...YES The transcript shows management crediting their pre-existing bottom-up adoption model and differentiated platform position (already in place since day one, with SMB focus and unique acquisition mechanics) as the operative cause of current wins. This is evident in statements like the model being "overwhelmingly driving the success of our business" and competitors routing customers to them due to the same standing. Further business is conveyed as already arriving through the same position, with trends continuing and the best quarter ever achieved on that foundation, even as they note additional investments in sales and conferences.
FTHM · Q1 2023 → YESThe question is about whether management credits a standing the company already holds as the reason they're currently winning business, and if more business is arriving over that same standing without...YES The transcript shows management crediting the company's pre-existing low-cost flat-fee model, owned technology, and culture-driven retention as the durable standing already in place that is generating current wins (market share gains, 18% agent growth, 60% of March referrals, and transaction resilience vs. peers). They describe these as flowing directly from that standing rather than fresh effort, while conveying continuation through the referral program's ongoing positive impact and the model's ability to draw more agents without proportional new marketing push.
ORAN · Q2 2018 → YESThe question is about whether management credits a standing the company already holds as the reason they're currently winning business, and that more is arriving over that same standing without a new ...YES The transcript shows management repeatedly tying current wins (net adds, ARPU growth, EBITDA expansion) directly to a pre-existing durable position: the #1 convergent operator status already achieved through prior leadership in fixed/mobile networks and fiber rollout, plus the installed base of 10.