Five interesting things that Hodges Capital research analysts discovered this week...
#1 Anchors Away: Recent discussions with a leading boat manufacturer this week indicated that boating activity in the U.S. has recently held up despite concerns over higher fuel costs. It is estimated that 80% of boat owners only fill up their fuel tanks twice a year, which appears to take the edge off the shock of fuel inflation.
#2 Tying the Knot: According to Signet Jewelers, the number of weddings in the U.S. is near a 40-year high, increasing demand for bridal jewelry purchases.
#3 Pain at the Pump: According to AAA, the national average gasoline price across the United States is $5.014 per gallon (as of 6/13/22), up from $4.432 in the prior month and $3.078 a year ago.
#4 Global Food Insecurity: With Ukraine and Russia representing roughly 22% of world wheat exports, wheat supply disruptions have resulted in a price increase of 37.1% year to date.
#5 Texas Tax Boom: Collecting over $1 billion in the past two months, Texas tax collections on oil and gas production is on record pace. According to data from the Texas Comptroller, the State has collected $7.35 billion on production from energy companies in the last nine months, up roughly 45% from a year ago.
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