Sunday, August 7, 2022

Week in Review 31/22

 

 


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:

 

 

August 1, 2022

 

  • € 70.65 – AT&T Inc. (T)
  • € 74.49 – Verizon Communications Inc. (VZ)
  • € 25.46 – Edison International (EIX)
  • € 27.50 – General Mills, Inc. (GIS)
  • € 31.43 – Bristol-Myers Squibb Company (BMY)
  • € 46.32 – CVS Health Corporation (CVS)
  • € 90.59 – The Toronto-Dominion Bank (TSE:TD)
  • € 32.19 – Power Corporation of Canada (TSE:POW)
  • € 68.70 – TC Energy Corporation (TSE:TRP)

 

August 5, 2022

 

  • € 36.72 – General Dynamics Corporation (GD)

 

 

Week 31: Total net dividends € 504.05.

 

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

 

 

My Portfolio's Transactions:

 

 

August 3, 2022

 

  • I opened a new position and purchased 150 shares of Medical Properties Trust, Inc. (MPW) at $ 16.37 per share plus commission.

 

At today's exchange rate that purchase 150 shares of MPW will increase € 126.66 of my expected annual net dividend income. After this acquisition, MPW’s weight of my portfolio is about 0.33% and its share of future annual dividend income is approximately 0.64%.

 

August 4, 2022

 

  • I sold 500 shares of Fortum Corporation (FORTUM) at € 11.05 per share plus commission and my intention is to sell the remaining 200 FORTUM shares in the near future.

 

 

Portfolio Holdings News:

 

 

August 1, 2022

 

  • Aflac Incorporated (AFL) Announces Second Quarter Results; AFL reports second quarter Non-GAAP EPS of $1.46, an 8.2% decline from last year but $0.18 ahead of estimates. Revenue of $5.4 billion beats analyst estimates by $610 million but decreased 2.9% versus the same quarter last year.

 

 

  • TD Bank Group (TD) Sells Shares of Schwab Common Stock; TD announced that it has sold 28,400,000 shares of non-voting common stock of The Charles Schwab Corporation. The shares sold represent approximately 1.5% of Schwab's issued and outstanding common stock, reducing TD's ownership interest in Schwab from approximately 13.4% to 12.0%. TD's strategy with respect to its investment in Schwab has not changed and it has no current intention to divest additional shares.

 

 

August 2, 2022

 

  • WEC Energy Group, Inc. (WEC) Reports Second-Quarter Results; WEC reports GAAP EPS of $0.91, beating analyst estimates by $0.06 and increased 4.6% year-over-year. Revenue of $2.13 billion beats analyst estimates by $370 million and increased 26.8% versus the same quarter last year. Management is raising its earnings guidance for 2022, to a range of $4.36 to $4.40 per share.

 

  • Gilead Sciences, Inc. (GILD) Announces Second Quarter 2022 Financial Results; GILD reports second quarter Non-GAAP EPS of $1.58, a 13% decline from last year but $0.06 ahead of estimates. Revenue grew 0.6% to $6.26 billion, topping estimates $390 million. For the full-year management has updated its guidance and now expects total product sales, excluding Veklury, between $22.0 billion to $22.5 billion, compared to $21.8 billion and $22.3 billion previously and Non-GAAP earnings per share between $6.35 and $6.75, compared to $6.20 and $6.70 previously.

 

  • PepsiCo, Inc. (PEP) and AQUA Carpatica Announce Strategic Relationship; PEP announced it has entered into a strategic agreement with premium Romanian spring water AQUA Carpatica under which PepsiCo will own a 20 percent equity stake in AQUA Carpatica. Under the agreement, PepsiCo will have rights to distribute the spring water in Romania and in Poland with opportunities to expand into other markets, including the United States.

 

  • Starbucks Corporation (SBUX) Reports Q3 Fiscal 2022 Results; SBUX reports Non-GAAP EPS of $0.84, beating analyst estimates by $0.08 but decreasing 15.2% year-over-year. Revenue increased 8.7% to $8.15 billion, which was $20 million more than expected. Management's guidance remains suspended for the balance of this fiscal year.

 

  • Illinois Tool Works Inc. (ITW) Reports Second Quarter 2022 Results; ITW reports GAAP EPS of $2.37, beating analyst estimates by $0.15 but decreased 3.3% year-over-year. Revenue grew 8.7% to $4 billion, topping estimates by $20 million. Management is maintaining full-year 2022 guidance including organic revenue growth of 7% to 10% and GAAP EPS of $9.00 to $9.40 per share.

 

  • Eaton Corporation plc (ETN) Reports Second Quarter 2022 Results; ETN reports second quarter Non-GAAP EPS of $1.87, a 9% above from last year and $0.05 ahead of estimates. Revenue of $5.2 billion misses analyst estimates by $20 million and decreased 0.4% versus the same quarter last year. For the full year 2022, management is raising its organic growth guidance from 9-11% to 11-13% vs. estimated growth of 4.85% Y/Y and raising adjusted earnings per share to between $7.36 and $7.76.

 

  • Prudential Financial, Inc. (PRU) Announces Second Quarter 2022 Results; PRU reports Non-GAAP EPS of $1.74, which was $0.59 below expectations and decreased 51.7% year-over-year. Book value per Common share of $74.72 versus $160.31 per share for the year-ago quarter; adjusted book value per Common share of $104.19 versus $104.39 per share for the year-ago quarter. AUM of $1.410 trillion versus $1.730 trillion for the year-ago quarter.

 

  • Unum Group (UNM) Reports Second Quarter 2022 Results; UNM reports Non-GAAP EPS of $2.04, a 37.4% increase from the previous year and $0.69 higher than expected. Revenue increased 1.7% to $3.04 billion, $50 million more than expected. Full-year 2022 outlook increased; after-tax adjusted operating income per share now expected to grow 40 percent to 45 percent relative to full-year 2021, compared to the previous outlook of an increase of 15 percent to 20 percent.

 

  • Main Street Capital Corporation (MAIN) Announces Monthly Dividend Increase and Supplemental Dividend; MAIN announce that its Board of Directors declared regular monthly cash dividends of $0.22 per share for each of October, November and December 2022. That represents a 2.3% increase from the regular monthly dividends declared for the third quarter of 2022 and a 4.8% increase from the regular monthly dividends paid for the fourth quarter of 2021. In addition management declared a supplemental cash dividend of $0.10 per share payable in September 27 for shareholders of record Sept. 20.

 

  • TD Bank Group (TD) Expand its U.S. Investment Banking Business and Capabilities; TD and Cowen Inc. (NASDAQ: COWN) today announced a definitive agreement for TD to acquire COWN in an all-cash transaction valued at US$1.3 billion, or US$39 for each share of COWN common stock. Through this transaction, TD Securities will accelerate its long-term growth strategy in the United States by acquiring a high-quality and rapidly growing investment bank with outstanding talent and highly complementary products and services.

 

August 3, 2022

 

  • Sampo plc (SAMPO) Reports Second Quarter 2022 Results; SAMPO reports second quarter EPS of € 0.75, a 24.2% decrease year-over-year but € 0.10 ahead of estimates. Operating result before taxes was € 499 million, beating estimates by € 55 million albeit decreased 29.7%.

 

  • Avista Corporation (AVA) Reports Financial Results for the Second Quarter; AVA reports GAAP EPS of $0.16, missing analyst estimates by $0.01 and decreasing 20% year-over-year. Revenue grew 28.2% to $ 368.52 million, topping estimates $ 58.73 million. Management is confirming its 2022 consolidated earnings guidance with a range of $1.93 to $2.13 per diluted share and confirming our 2023 consolidated earnings guidance range of $2.42 to $2.62.

 

  • Pinnacle West Capital Corporation (PNW) Reports 2022 Second-Quarter Results; PNW reports second quarter GAAP EPS of $1.45, a 24.1% decline from last year but $0.15 ahead of estimates. Revenue grew 6% to $1.06 billion, topping estimates $85.4 million. For 2022, management continues to expect its consolidated earnings guidance will be in the range of $3.90 to $4.10 per diluted share on a weather-normalized basis.

 

 

  • UGI Corporation (UGI) Reports Third Quarter Results; UGI reports Non-GAAP EPS of $0.06, missing analyst estimates by $0.06 and decreasing 53.9% year-over-year. Revenue increased 35.3% to $2.03 billion, which was $130 million more than expected. Management now expects to be at the bottom end, or slightly below, its fiscal 2022 adjusted diluted EPS guidance range of $2.90 to $3.00 per share.

 

 

  • CVS Health Corporation (CVS) Reports Second Quarter 2022 Results; CVS reports second quarter Non-GAAP EPS of $2.40, 0.83% under last year's result and $0.22 higher than expected. Revenue improved 11.1% to $80.64 billion, $4.26 billion higher than expected. For 2022, Management raised GAAP diluted EPS guidance range to $7.23 to $7.43 from $6.93 to $7.13 and raised Adjusted EPS guidance range to $8.40 to $8.60 from $8.20 to $8.40.

 

  • Medifast, Inc. (MED) Announces Second Quarter 2022 Financial Results; MED reports Non-GAAP EPS of $3.87, beating analyst estimates by $0.64 albeit decreasing 2.5% year-over-year. Revenue increased 15% to $ 453.3 million, which was $ 5.43 million more than expected. Management expects full-year 2022 revenue to be in the range of $1.58 billion to $1.66 billion, down from the previously announced range of $1.78 billion to $1.84 billion and non-GAAP diluted EPS to be in the range of $12.70 to $14.10, down from the previously announced range of $14.60 to $16.05.

 

  • Main Street Capital (MAIN) Announces Follow-On Investment; MAIN made the follow-on investment in Bolder Panther Group, LLC  to support the Company's acquisition of a 79-store retailer with locations spread across Arkansas, Mississippi, Tennessee, Missouri and Kentucky. Main Street's follow-on investment consists of an additional $50.0 million first lien, senior secured term debt investment.

 

  • Nutrien Ltd. (NTR) Announces Second Quarter Results; NTR reports Non-GAAP EPS of $5.85, a 181% increase from the previous year and $0.15 higher than expected. Revenue of $14.51 billion missed analyst estimates by $220 million albeit increases 48.7% versus the same quarter last year. Management raised full-year 2022 adjusted EBITDA guidance and adjusted net earnings per share guidance to $14B to $15.5B and $15.80 to $17.80 per share.

 

 

 

August 4, 2022

 

  • Duke Energy Corporation (DUK) Reports Second Quarter 2022 Results; DUK reports second quarter GAAP EPS of $1.14, 18.8% above last year's result and $0.06 higher than expected. Revenue improved 16.1% to $6.69 billion, $900 million higher than expected. Management reaffirmed 2022 adjusted EPS guidance range of $5.30 to $5.60 and adjusted EPS growth rate of 5% to 7% through 2026 off 2021 original midpoint of $5.15.

 

  • ConocoPhillips (COP) Reports Second-Quarter 2022 Results; COP reports second quarter Non-GAAP EPS of $3.91, 208% above last year's result and $0.06 higher than expected. COP announced a $5 billion increase in expected 2022 return of capital to shareholders to a total of $15 billion. Management declared both a third-quarter ordinary dividend of 46 cents per share and a fourth-quarter variable return of cash (VROC) payment of $1.40 per share. COP updated its 2022 adjusted operating cost guidance to $7.5 billion versus the prior guidance of $7.3 billion.

 

 

  • Amgen Inc. (AMGN) to acquire ChemoCentryx; AMGN and ChemoCentryx, Inc., (NASDAQ: CCXI) announced that the companies have entered into a definitive agreement under which Amgen will acquire ChemoCentryx for $52 per share in cash, representing an enterprise value of approximately $3.7 billion.

 

  • Amgen Inc. (AMGN) Reports Second Quarter 2022 Financial Results; AMGN reports second quarter Non-GAAP EPS of $4.65, a 163% above from last year and $0.32 ahead of estimates. Revenue grew 1.1% to $6.6 billion, topping estimates $70 million. Management revised 2022 total revenues guidance to $25.5B-26.4B from prior outlook of $25.4B-26.5B and EPS guidance to $11.01-12.15 on a GAAP basis and $17.00-18.00 on a non-GAAP basis.

 

  • Kontoor Brands, Inc. (KTB) Reports Second Quarter 2022 Results; KTB reports second quarter GAAP EPS of $1.09, a 173% above from last year and $0.13 ahead of estimates. Revenue of $614 million misses analyst estimates by $10.46 million albeit increased 25.1% versus the same quarter last year. Management now expects revenue to increase approximately 6 percent compared to 2021 and adjusted EPS is expected to be in the range of $4.40 to $4.50, compared to prior guidance of $4.75 to $4.85.

 

 

  • Air Products and Chemicals, Inc. (APD) Announces Third Quarter Results; APD reports third quarter Non-GAAP EPS of $2.62, a 13% above from last year and $0.01 ahead of estimates. Revenue grew 22.7% to $3.19 billion, topping estimates $170 million. Management maintained FY2022 full-year adjusted EPS guidance of $10.20 to $10.40, up 14 percent at the midpoint and adjusted EPS guidance of $2.68 to $2.88, up seven to 15 percent Y/Y.

 

 

  • BCE Inc. (BCE) Reports Second-Quarter 2022 Results; BCE reports Non-GAAP EPS of C$0.87, a 4.8% increase from the prior year and C$0.03 above estimates. Revenue of C$5.86 billion, in line with expectations and increased 9% year-over-year. For FY 2022 management guides revenue growth to be between 1-5%, adjusted EBITDA growth of 2% – 5% and Non-GAAP EPS growth of 2% – 7%.

 

  • TC Energy Corporation (TRP) announces $1.8 billion bought deal offering of Common Shares; TRP announced that it has entered into an agreement to which the underwriters have agreed to purchase, on a bought deal basis, 28,400,000 common shares of the Company at a price of $63.50 per Common Share, for gross proceeds of approximately $1.8 billion. The Common Shares will be offered to the public in Canada and the United States through the underwriters and their affiliates.

 

August 5, 2022

 

 

  • General Dynamics Corporation’s (GD) NASSCO Awarded $1.4 Billion to Build U.S. Navy Ships; NASSCO, a subsidiary of GD, announced that it received $1.4 billion in U.S. Navy contract modifications for construction of a sixth Expeditionary Sea Base ship (ESB 8) and two additional John Lewis-class fleet oilers (T-AO 211 and 212). This award comes in addition to $600 million already received to procure long-lead time materials for the same ships. The contract modification also provides an option for the Navy to procure an additional oiler, T-AO 213, bringing the total potential value to $2.7 billion for the four ships.

 

  • Power Corporation of Canada (TSE:POW) Reports Second Quarter 2022 Financial Results; POW reports Non-GAAP EPS of $0.87, 42.4% lower than the prior year and C$0.10 lower than expected. The Corporation's adjusted net asset value per share was C$41.49 at June 30, 2022, compared with C$52.60 at December 31, 2021, representing a decrease of 21.1%. The Corporation's book value per participating share was C$33.18 at June 30, 2022, compared with C$34.56 at December 31, 2021, representing a decrease of 4.0%.

 

 

 

Articles that caught my attention:

 

 

 

 

Thanks for stopping by, have a nice next week!

 

 

1 comment:

  1. Passive Income PursuitAugust 8, 2022 at 3:24 PM

    Thanks for the mention! And of course the other links that I happened to miss. Last week was a busy week for earnings releases so definitely a lot to catch up on.

    ReplyDelete