✅   Oakmark International Small Cap Fund Q1 2025 Commentary

Finance

ISS was the top contributor during the quarter. The Denmark-headquartered diversified support services company’s stock price rose after it posted solid fiscal-year 2024 earnings, which were broadly in line with consensus expectations. Better-than-expected topline growth was primarily a result of favorable pricing trends and elevated project work. In addition, management announced a 2.5 billion DKK (Danish krone) buyback program that is expected to be completed in 2025, which we view as significantly value positive and surpassed market expectations. We appreciate management’s focus on profitable growth and believe there is a significant runway for continued growth and modest margin expansion.

seekingalpha.com     Apr 12, 2025