Who won the US Awards and why?
Sherwin-Williams and Jack in the Box walked away with the biggest smiles after the IR Magazine Awards US – 2017 in March. Both companies won three awards each, including the coveted awards for best overall investor relations in the large-cap and mid-cap categories, respectively. Small-cap waste management firm Covanta picked up the final best overall IR award at the gala event, held at Cipriani Wall Street and attended by more than 400 members of the US IR community.
IR Magazine takes the scores from all the awards categories and combines them to create an overall ranking of IR performance in the US market: the US Top 100. Following the awards in March, positions in the Top 100 have changed and Sherwin-Williams now sits in the top spot, up from seventh place last year. JPMorgan Chase & Co retains its second-place ranking from last year, while Jack in the Box has jumped an incredible 62 places to take the third spot. Indeed, 2017 sees many companies shoot up the rankings, with four of the top 10 climbing 30 places or more.
The awards were voted for by an independent survey of around 450 portfolio managers, buy-side analysts and sell-side analysts. They were asked for their opinion on a range of categories, including best use of technology, best financial reporting and best IR for a corporate transaction.
The full research behind the awards is available in the IR Magazine Investor Perception Study – US 2017, which includes category scores and ranking positions for more than 250 US companies. To order a copy, please contact Reece Tan at [email protected] or +44 20 8004 5337.
Carol DiRaimo and Julie Tracy, shared winners of the best investor relations officer (small & mid-cap). For all photos of the night, see the full gallery at the events micro-site.
Best overall investor relations:
Large cap: Sherwin-Williams
What the investment community says: ‘I like the consistency and transparency delivered by Sherwin-Williams and the fact that it is always willing to engage with us’ – buy side
Mid-cap: Jack in the Box
What the investment community says: ‘Jack in the Box communicates its message well to the Street, holds good analyst days and is always available. I have a good relationship with the IR director’ – buy side
Small cap: Covanta
What the investment community says: ‘Covanta produces a well laid-out and organized presentation with its earnings release. And the investor relations team is reachable and thoughtful, helping us to understand the company by organizing site visits’ – sell side
Best investor relations officer:
Large cap: Jack Carsky & Victoria Hyde-Dunn, Visa
What the investment community says: ‘I love Jack Carsky at Visa: he is a great personality and tells it like it is!’ – sell side
Small & mid-cap: Carol DiRaimo, Jack in the Box (joint winner)
What the investment community says: ‘IRO Carol DiRaimo knows the business backwards and forwards. She is as good as any CFO and is among the strongest investor relations people I’ve ever encountered’ – sell side
Small & mid-cap: Julie Tracy, Wright Medical Group (joint winner)
What the investment community says: ‘At Wright Medical Group there is good availability of IR people and they do a good job of explaining, beyond the usual transcript of the conference call. From a disclosure perspective, they offer all the information they can’ – sell side
Most progress in IR:
What the investment community says: ‘There is improved access at eBay and the firm spends more time with us’ – sell side
Best IR by a non-US or Canadian company in the US market
What the investment community says: ‘BP provides us with a really good annual outlook’ – buy side
Best IR for an IPO or spin-off
Adient, September 2016
What the investment community says: ‘For a company that has only recently listed, Adient has great IR; it’s really thorough and responsive’ – sell side
Best IR during a corporate transaction
Johnson Controls Merger with Tyco, completed September 2016
What the investment community says: ‘We have been provided with plenty of information on the Tyco merger, and management was available. There were no issues’ – sell side
Best use of technology or social media
What the investment community says: ‘HealthSouth has an online investor handbook in PDF format, which is constantly updated’ – sell side
Best corporate governance
JPMorgan Chase & Co
What the investment community says: ‘In terms of corporate governance, JPMorgan is clearest about remuneration’ – buy side
Best financial reporting
What the investment community says: ‘Sherwin-Williams provides excellent market and sector information, giving a good overview on the economy and how it impacts the company. Its strategy is well explained, and if it makes tweaks it lets you know about it’ – sell side
People’s choice award for innovation
For the second year, the awards also included a separate category voted for by the public: the people’s choice award for innovation. Companies could nominate themselves and eight made it to the final short list, with voting allowed right up until the awards ceremony began. This year, the people’s choice prize went to the Estée Lauder Companies, which won for the redesign of its corporate website. The companies on the short list received more than 3,500 votes in total.
This article appeared in the Summer 2017 issue of IR Magazine.