Sunday, July 31, 2022

Week in Review 30/22

 


 

Welcome and thanks for reading!

In this review, I will make a summary of important and interesting news and events over the last week related to my portfolio holdings. Also, I will put together some interesting articles from other websites that caught my attention during the past week.

 

 

Received Dividends:

 

 

July 27, 2022

 

  • € 54.14 – Cisco Systems, Inc. (CSCO)

 

July 28, 2022

 

  • € 96.99 – Scotiabank (BNS)

 

July 29, 2022

 

  • € 13.81 – LTC Properties, Inc. (LTC)

  • € 56.69 – Canadian Imperial Bank of Commerce (CM)

 

Week 30: Total net dividends € 221.63.

 

Dividend income is reported after the deduction of taxes. Check more at my Monthly Dividend sheet.

 

 

My Portfolio's Transactions:

 

 

July 28, 2022

 

  • I sold 500 shares of Fortum Corporation at € 10.62 per share plus commission and my intention is to sell the remaining Fortum shares in the near future.

 

July 29, 2022

 

  • I opened a new position and purchased 40 shares of LyondellBasell Industries N.V. (LYB) at $ 89.50 per share plus commission. At today's exchange rate that purchase 40 shares of LYB will increase € 139.07 of my expected annual net dividend income. I will update the portfolio holdings during the next week.

 

 

Portfolio Holdings News:

 

 

July 25, 2022

 

  • Intel Corporation (INTC) and MediaTek Form Foundry Partnership; INTC and MediaTek today announced a strategic partnership to manufacture chips using Intel Foundry Services’ (IFS) advanced process technologies. The agreement is designed to help MediaTek build a more balanced, resilient supply chain through the addition of a new foundry partner with significant capacity in the United States and Europe.

 

 

 

July 26, 2022

 

  • Kesko Corporation (KESKO) Reports Q2 2022 Results; KESKO reports second quarter EPS of € 0.45, a 9.8% increase year-over-year and € 0.03 ahead of estimates. Revenue grew 3.7% to € 3108.5 million, missing estimates by € 5.9 million. For FY2022 management expects comparable operating profit to be in the range of € 750-840 million from prior guidance of € 730-840 million. In 2021, the operating profit was € 775.5 million.

 

  • Unilever PLC (UL) Reports First Half Year Results; UL reports Non-GAAP EPS of €1.34, a 1% increase year-over-year. Revenue grew 14.8% to € 29.6 billion. Management was guidance for underlying sales growth in 2022 at the top end of a range of 4.5% to 6.5%. UL now expect underlying sales growth to be above that range, driven by price with some further pressure on volume.

 

 

  • Kimberly-Clark Corporation (KMB) Announces Second Quarter 2022 Results; KMB reports second quarter Non-GAAP EPS of $1.34, a 9% decline from last year but $0.03 ahead of estimates. Revenue grew 7% to $5.1 billion, topping estimates $110 million. Management is now targeting full-year 2022 organic sales growth of 5 to 7 percent compared to prior outlook of 4 to 6 percent and maintains adjusted earnings per share range of $5.60 to $6.00.

 

  • The Coca-Cola Company (KO) Reports Second Quarter 2022 Results; KO reports Non-GAAP EPS of $0.70, beating analyst estimates by $0.03 and increased 4% year-over-year. Revenue of $11.3 billion beats analyst estimates by $730 million and increased 11.9% versus the same quarter last year. Management expects 2022 comparable currency neutral EPS (non-GAAP) growth of 14% to 15% and comparable EPS (non-GAAP) growth of 5% to 6%, versus $2.32 in 2021.

 

 

  • Raytheon Technologies Corporation (RTX) Reports Q2 2022 Results; RTX reports second quarter Non-GAAP EPS of $1.16, 13% above last year's result and $0.05 higher than expected. Revenue improved 2.7% to $16.31 billion, $300 million less than expected. For FY2022 management confirms adjusted EPS to $4.60 - $4.80, sales of $67.75 - $68.75 billion and share repurchase of at least $2.5B.

 

  • United Parcel Service, Inc. (UPS) Releases 2Q 2022 Earnings; UPS reports second quarter Non-GAAP EPS of $3.29, 7.5% above last year's result and $0.13 higher than expected. Revenue improved 5.7% to $24.8 billion, $210 million higher than expected. For 2022, Management reaffirms its full-year financial targets and raising the amount of targeted share repurchases for 2022, taking the target to $3 billion for the year.

 

  • Visa Inc. (V) Reports Third Quarter 2022 Financial Results; V reports Non-GAAP EPS of $1.98, beating analyst estimates by $0.23 and increased 33% year-over-year. Revenue of $7.3 billion beats analyst estimates by $230 million and increased 19.1% versus the same quarter last year. Total cross-border volume on a constant-dollar basis increased 40% in the quarter. Total processed transactions, which represent transactions processed by Visa, for the three months ended June 30, 2022, were 49.3 billion, a 16% increase over the prior year.

 

 

  • Canadian National Railway Company (TSE:CNR) Reports Second Quarter Results; CNR reports Non-GAAP EPS of C$1.93, beating analyst estimates by C$0.17 and increased 29.5% year-over-year. Revenue grew 20.6% to C$4.34 billion, topping estimates by C$250 million. Management confirms its 2022 outlook targeting to deliver approximately 15-20% adjusted diluted EPS growth in 2022 and maintains its free cash flow target in the range of C$3.7 billion - C$4.0 billion in 2022.

 

July 27, 2022

 

  • QUALCOMM Incorporated (QCOM) Announces Third Quarter Fiscal 2022 Results; QCOM reports Non-GAAP EPS of $2.96, beating analyst estimates by $0.09 and increased 54% year-over-year. Revenue of $10.9 billion beats analyst estimates by $50 million by increasing 37.3% versus the same quarter last year. QCOM sees Q4 non-GAAP EPS of $3.00-$3.30 and revenue of $11B-$11.8B

 

 

  • The Kraft Heinz Company (KHC) Reports Second Quarter 2022 Results; KHC reports Non-GAAP EPS of $0.70, 10.3% lower than the prior year but $0.02 higher than expected. Revenue of $6.55 billion beats analyst estimates by $190 million albeit decreased 1.1% versus the same quarter last year. Management continues to expect 2022 Adjusted EBITDA to be in the range of $5.8 billion to $6.0 billion, with a 45 percent to 55 percent third quarter to fourth quarter split.

 

  • Bristol-Myers Squibb Company (BMY) Reports Second Quarter Financial Results for 2022; BMY reports Non-GAAP EPS of $1.93, beating analyst estimates by $0.12 and increased 18% year-over-year. Revenue of $11.9 billion beats analyst estimates by $400 million and increased 1.7% versus the same quarter last year. For FY2022 management guides adjusted EPS of $7.44-$7.74 from prior outlook of $7.65-$7.95 and total net sales of $46B from prior outlook of $47B.

 

  • Best Buy Co., Inc. (BBY) Provides Update on Second Quarter Performance and Fiscal 2023 Outlook; BBY expects Q2 FY23 comparable sales1 to decline approximately 13%, with revenue approximately 7.5% higher than pre-pandemic Q2 FY20. This compares to 19.6% comparable sales growth in Q2 FY22. The company expects its Q2 non-GAAP operating income rate2 to be in a range around 3.7%. Additionally, the company expects its Q2 ending inventory balance to be approximately flat to the same period last year.

 

  • WestRock Company (WRK) to Acquire Remaining Interest in Grupo Gondi; WRK announced that it has entered into an agreement to acquire the remaining interest in Grupo Gondi for $970 million, plus the assumption of debt, representing an estimated implied enterprise value of $1.763 billion. Currently, WestRock owns 32.3% of Grupo Gondi, and this transaction will secure the remaining 67.7%.

 

  • Lockheed Martin Corporation (LMT) received a not-to-exceed $213.3M cost-plus-incentive-fee undefinitized contract.

 

 

  • Lazard Ltd (LAZ) Increases Quarterly Dividend; LAZ announced that its Board of Directors increase the quarterly dividend on its outstanding Class A common stock by 6% to $0.50 per share. The dividend is payable on August 19, 2022, to stockholders of record on August 8, 2022.

 

 

July 28, 2022

 

 

  • Intel Corporation (INTC) Reports Second-Quarter 2022 Financial Results; INTC reports Non-GAAP EPS of $0.29, missing analyst estimates by $0.41 and decreasing 79% year-over-year. Revenue of $15.3 billion missed analyst estimates by $2.63 billion and decreases 17.3% versus the same quarter last year. For Q3, revenue is expected to be in the range of $15B to $16B and EPS of $0.35.

 

  • Edison International (EIX) Reports Second Quarter 2022 Results; EIX reports second quarter Non-GAAP EPS of $0.94, the same as previous year and $0.04 ahead of estimates. Revenue increased 20.8% to $4.01 billion, which was $440 million more than expected. Management reaffirms 2022 EPS guidance of $4.40–4.70 and also reiterates long-term EPS growth rate target of 5–7%.

 

  • Pfizer Inc. (PFE) Reports Second-Quarter 2022 Results; PFE reports Non-GAAP EPS of $2.04, a 92% increase from the previous year and $0.26 higher than expected. Revenue increased 45.8% to $27.7 billion, $1.5 billion more than expected. Management raises Full-Year 2022 financial guidance for revenues and adjusted diluted EPS by $2 billion and $0.24.

 

  • Baxter International Inc. (BAX) Reports Second-Quarter 2022 Results; BAX reports Non-GAAP EPS of $0.87, which was in line with expectations and increased 9% year-over-year. Revenue improved 21% to $3.75 billion, $130 million less than expected. Management now expects full-year U.S. GAAP EPS of $1.82 to $1.92 and adjusted EPS of $3.60 to $3.70.

 

  • Altria Group, Inc. (MO) Reports 2022 Second-Quarter and First-Half Results; MO reports Non-GAAP EPS of $1.26, a 2.4% increase from the prior year and $0.01 above estimates. Revenue of $5.37 billion misses analyst estimates by $50 million by decreasing 4.1% versus the same quarter last year. Management reaffirm guidance to deliver 2022 full-year adjusted diluted EPS in a range of $4.79 to $4.93. This range represents an adjusted diluted EPS growth rate of 4% to 7% from a $4.61 base in 2021.

 

  • V.F. Corporation (VFC) Reports First-Quarter 2023 Results; VFC reports first quarter Non-GAAP EPS of $0.09, a 68% decline from last year and $0.05 miss of estimates. Revenue improved 3.2% to $2.26 billion, $20 million higher than expected. For FY23 Management now expect adjusted EPS of $3.05 to $3.15, implying 4% to 7% growth versus the prior year on a constant dollar basis.

 

  • Triton International Limited (TRTN) Reports Second Quarter 2022 Results; TRTN reports second quarter Non-GAAP EPS of $2.92, a 36.4% above from last year and $0.27 ahead of estimates. Revenue grew 14.0% to $421.6 million, topping estimates $1.65 million. For the third quarter, management expects adjusted net income per share will remain in line with our very strong second quarter results.

 

 

  • Lazard Ltd (LAZ) Reports Second-Quarter and First-Half 2022 Results; LAZ reports second quarter Non-GAAP EPS of $0.92, 28% lower than last year but $0.06 ahead of estimates. Revenue of $639.55 million misses analyst estimates by $26.84 million by decreasing 22.3% versus the same quarter last year. AUM as of June 30, 2022, was $217 billion, down 14% from March 31, 2022, and down 22% from June 30, 2021.

 

  • Digital Realty Trust, Inc. (DLR) Reports 2022 Second Quarter Results; DLR reports second quarter FFO of $1.72, 11.7% above last year's result and $0.07 more than expected. Revenue of $1.1 billion missed analyst estimates by $50 million and increased 82.30.9% versus the same quarter last year. DLR updated 2022 core FFO per share outlook to $6.75 - $6.85 and reiterated 2022 constant-currency core FFO per share outlook of $6.95 - $7.05.

 

 

  • TC Energy Corporation (TSE:TRP) Reports Second Quarter 2022 Results; TRP reports Non-GAAP EPS of C$1.00, 5.66% lower than the prior year but C$0.02 higher than expected. Comparable EBITDA grew 5.48% to C$2.37 billion. Management expected comparable EBITDA to be modestly higher than 2021 and 2022 comparable earnings per common share outlook is expected to be consistent with 2021.

 

  • Fortis Inc. (TSE:FTS) Releases Second Quarter 2022 Results; FTS reports Non-GAAP EPS of C$0.57, beating analyst estimates by C$0.11 and increased 3.6% year-over-year. Revenue grew 16.9% to C$2.49 billion, topping estimates by C$240 million. FTS expects long-term growth in rate base will support earnings and dividend growth. FTS is targeting average annual dividend growth of approximately 6% through 2025.

 

 

July 29, 2022

 

 

  • AbbVie Inc. (ABBV) Reports Second-Quarter 2022 Financial Results; ABBV reports Non-GAAP EPS of $3.37, a 11.2% increase from the prior year and $0.06 above estimates. Revenue of $417.14.58 billion misses analyst estimates by $60 million even increased 4.4% versus the same quarter last year. Management confirms 2022 Adjusted Diluted EPS Guidance Range of $13.78 - $13.98 from prior outlook of $13.92-$14.12

 

  • Magna International Inc. (MGA) Announces Second Quarter 2022 Results; MGA reports Non-GAAP EPS of $0.83, 40.7% lower than last year and $0.09 lower as estimates. Revenue increased 3.7% to $9.36 billion, which was $440 million more than expected. Management increased FY2022 sales outlook to $37.6B - $39.2B from prior view of $37.3B to $38.9B and reaffirms net income in the range of $1.3B to $1.5B.

 

 

  • Enbridge Inc. (TSE:ENB) Reports Second Quarter 2022 Financial Results; ENB reports Q2 Non-GAAP EPS of C$0.67, the same as previous year and C$0.02 lower as estimates. Distributable cash flow (DCF) of C$2.7 billion or C$1.36 per common share, compared with C$2.5 billion or C$1.24 per common share in 2021. ENB reaffirmed 2022 full year guidance range for EBITDA of C$15.0 billion to C$15.6 billion and DCF per share of C$5.20 to C$5.50.

 

  • Pacific Energy and Enbridge Inc. (TSE:ENB) Announce Partnership in Woodfibre LNG; ENB announced it will partner with Pacific Energy Corp. to spend C$5.1B (US$3.98B) in the joint construction and operation of the Woodfibre LNG project in British Columbia. ENB will invest in a 30% ownership stake in the liquefied natural gas project, with Pacific Energy holding the remaining 70%, but Enbridge did not specify how much it would pay for the stake.

 

 

Articles that caught my attention:

 

 

 

 

Thanks for stopping by, have a nice next week!

 

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