Hot Picks: Industrials gain on infrastructure tailwinds
BNN Bloomberg
Industrials sector gains appeal on pricing power, infrastructure spending and strong cash flow, with tailwinds from stimulus and consolidation trends.
BNN Bloomberg spoke with Ian Gillies, managing director at Stifel, who highlighted opportunities in waste management, hydrovac services and global engineering, citing strong cash flow generation, consolidation potential and government stimulus as key supports.
Read the full transcript below:
ROGER: Time now for Hot Picks, and we’re zeroing in on three plays in the industrial sector. Our next guest has Secure Waste as his top pick. The leading waste management and energy infrastructure company operates primarily in North America, focusing on sustainable waste solutions and energy services. For more, I’m joined by Ian Gillies, managing director at Stifel. Ian, thanks very much for joining us. Let’s get right to it. Secure Waste is at the top for a reason, I guess.
IAN: Certainly. When you think about where we are in the stock market today, there’s elevated concern around AI disintermediation and how it’s going to impact people-centric businesses, whether blue collar or white collar. We think Secure stands out from that pack because it has what is largely an irreplaceable network of assets in Western Canada that removes and helps clean up oilfield waste.
One of the interesting things about this stock is that there are really only two players that do this in Western Canada. That creates a very strong operating environment for the company. Because of this, it has the ability to move prices up three to five per cent every year, alongside the benefit of higher waste volumes. Western Canada production grows at roughly two to three per cent every year.
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