Sunday, October 30, 2022

Week in Review 43/22

 


 

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:

 

 

October 26, 2022

 

  • € 54.76 – Cisco Systems, Inc. (CSCO)

 

Week 43: Total net dividends € 54.76.

 

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

 

 

Portfolio Holdings News:

 

 

October 24, 2022

 

  • Kontoor Brands, Inc. (KTB) Increases Quarterly Dividend; KTB announced that its Board of Directors has declared a regular quarterly cash dividend of $0.48 per share of its common stock, an increase of $0.02 or 4 percent. The cash dividend will be payable on December 19, 2022, to shareholders of record at the close of business on December 9, 2022.

 

October 25, 2022

 

 

  • UPM-Kymmene Corporation Reports Q3 2022 Results; UPM reports third quarter comparable EPS of € 1.16, a 75.8% increase year-over-year. Revenue grew 36% to €3,420 million, topping estimates €191 million. Management expects UPM’s comparable EBIT is expected to increase in 2022 from 2021. Following the record strong Q3 2022 results, UPM’s financial performance is expected to continue above last year’s level.

 

  • Texas Instruments Incorporated (TXN) reports third quarter 2022 financial results; TXN reports GAAP EPS of $2.47, beating analyst estimates by $0.08 and increased 19% year-over-year. Revenue of $5.24 billion beats analyst estimates by $100 million and increased 12.9% versus the same quarter last year. Management expects fourth quarter revenue in the range of $4.40 billion to $4.80 billion and earnings per share between $1.83 and $2.11.

 

  • Kimberly-Clark Corporation (KMB) Announces Third Quarter 2022 Results; KMB reports Non-GAAP EPS of $1.40, missing analyst estimates by $0.05 and decreasing 14% year-over-year. Revenue increased 0.8% to $5.05 billion, which was $40 million more than expected. Management continues to target full-year 2022 organic sales growth of 5 to 7 percent with net sales increase 2 to 4 percent and expects adjusted earnings per share at the lower end of $5.60 to $6.00 range.

 

  • The Coca-Cola Company (KO) Reports Third Quarter 2022 Results; KO reports third quarter Non-GAAP EPS of $0.69, 7% above last year's result and $0.05 higher than expected. Revenue improved 11% to $11.1 billion, $600 million higher than expected. For FY 2022 management expects to deliver comparable currency neutral EPS (non-GAAP) growth of 15% to 16% and comparable EPS (non-GAAP) growth of 6% to 7%, versus $2.32 in 2021.

 

  • Illinois Tool Works Inc. (ITW) Reports Third Quarter 2022 Results; ITW reports GAAP EPS of $2.35, a 16% increase from the previous year and $0.10 higher than expected. Revenue increased 12.6% to $4.01 billion, $110 million more than expected. Management raising full-year GAAP EPS guidance to $9.45 to $9.55 per share from prior guidance of  $9.00 to $9.40 and organic revenue growth guidance to 11 to 12% vs prior guidance of 7%-10%.

 

  • General Dynamics Corporation (GD) Electric Boat is awarded a $122.78M cost-plus fixed-fee modification to previously awarded contract N00024-20-C-2120 for lead yard support and development studies and design efforts related to Virginia-class submarines.

 

  • Raytheon Technologies Corporation (RTX) Reports Q3 2022 Results; RTX reports Non-GAAP EPS of $1.21, beating analyst estimates by $0.07 but decreasing 4% year-over-year. Revenue increased by 4.9% to $17 billion, but missed expectations by $250 million. Management guides adjusted EPS of $4.70 - $4.80, up from $4.60 - $4.80 and sales of $67.0 - $67.3 billion, down from $67.75 - $68.75 billion.

 

  • Raytheon Technologies Corporation (RTX) was awarded a $122M cost-plus-fixed-fee contract for the Lower Tier Air and Missile Defense Sensor pre-planned product improvement Increment III effort.

 

 

 

  • Visa Inc. (V) Reports Fourth Quarter and Full-Year 2022 Financial Results; V reports fourth quarter Non-GAAP EPS of $1.93, a 19% above from last year and $0.07 ahead of estimates. Revenue increased 18.9% to $7.8 billion, $250 million more than expected. The board of directors increased V's quarterly cash dividend 20% to $0.45 per share and authorized a new $12.0B share repurchase program.

 

 

 

 

  • Canadian National Railway Company (TSE:CNR) Reports Third Quarter Results; CNR reports GAAP EPS of C$2.13, beating analyst estimates by C$0.12 and increased 40% year-over-year. Revenue grew 25.6% to C$4.51 billion, beating estimates by C$190 million. Management is now expecting to deliver approximately 25% of adjusted diluted EPS growth (compared to its April 26, 2022 target of 15-20%) and free cash flow of approximately C$4.2 billion in 2022 (compared to its April 26, 2022 target range of C$3.7 billion - C$4.0 billion)

 

October 26, 2022

 

  • The Kraft Heinz Company (KHC) Reports Third Quarter 2022 Results; KHC reports third quarter Non-GAAP EPS of $0.63, a 3.1% decrease year-over-year but $0.07 ahead of estimates. Revenue improved 2.8% to $6.5 billion, $210 million higher than expected. Management now expects 2022 Adjusted EBITDA to be $5.9 billion to $6.0 billion as compared to the prior expectation of $5.8 billion to $6.0 billion.

 

  • Bristol-Myers Squibb Company (BMY) Reports Third Quarter Financial Results for 2022; BMY reports third quarter Non-GAAP EPS of $1.99, a 3% above from last year and $0.16 ahead of estimates. Revenue decreased 3.4% to $11.22 billion, $40 million more than expected. For FY22 management reaffirms total net sales of $46 billion and Non-GAAP EPS of $7.44-$7.74, adjust GAAP EPS of $2.54-$2.84 from prior outlook of $2.71-$3.01.

 

  • V.F. Corporation (VFC) Reports Second Quarter Results; VFC reports Non-GAAP EPS of $0.73, 34% lower than the prior year and in line with expectations. Revenue of $3.08 billion misses analyst estimates by $20 million and decreased 3.8% versus the same quarter last year. Management now guides adjusted EPS to be in the range of $2.40 to $2.50, versus $3.18 in the prior year and compared to the previous outlook of $2.60 to $2.70.

 

 

  • Digital Realty Trust, Inc. (DLR) Reports Third Quarter 2022 Results; DLR reports third quarter FFO of $1.67, 1.21% above last year's result but $0.01 less than expected. Revenue of $1.19 billion was in line with expectations and increased 4.4% year-over-year. Management updated 2022 core FFO per share outlook to $6.70 - $6.75 from prior outlook of $6.75-$6.85.

 

October 27, 2022

 

 

  • Kesko Corporation’s (KESKO) Interim Report for January–September 2022; KESKO reports third quarter comparable EPS of € 0.47, a 9.3% increase year-over-year and € 0.04 ahead of estimates. Revenue grew 3.4% to € 3,010 million, missing estimates € 10 million. Management estimates that its comparable operating profit in 2022 will be in the range of €790 – 840 million. Before, the company estimated that the comparable operating profit would be in the range of €750 – 840 million.

 

  • NCC AB (NCC) to build Agnes Kulturhus in Gävle; On behalf of Gävle Municipality, NCC is building Agnes Kulturhus, a new center for culture and learning, comprising of 8,700 square meters. The former building has now been demolished to make way for the new center, comprising a municipal library, public facilities and cultural activities. The value of the order is approximately SEK 300 million.

 

  • Unilever PLC (UL) Reports Third-Quarter 2022 Results; Underlying sales growth accelerated to 10.6% in the quarter, and sales guidance raised for the full year. Turnover increased 17.8% including a currency impact of 8.8% and (2.1)% from disposals net of acquisitions. Second €750 million share buyback tranche, announced in September, will complete in December 2022.

 

  • Intel Corporation (INTC) Reports Third-Quarter 2022 Financial Results; INTC reports third quarter Non-GAAP EPS of $0.59, a 59% decline from last year but $0.26 ahead of estimates. Revenue of $5.2 billion was in line with estimates and decreased 15.5% versus the same quarter last year. Management is revising FY2022 guidance and expecting Non-GAAP revenue of $63 billion to $64 billion and Non-GAAP EPS of $1.95.

 

  • Gilead Sciences, Inc. (GILD) Announces Third Quarter 2022 Financial Results; GILD reports third quarter Non-GAAP EPS of $1.90, a 28.3% decline from last year but $0.47 ahead of estimates. Revenue of $7.04 billion beats analyst estimates by $910 million but decreased 5.1% versus the same quarter last year. For the full-year, management has updated its guidance and now expects total product sales between $25.9 billion and $26.2 billion, compared to $24.5 billion and $25.0 billion previously and Non-GAAP earnings per share between $6.95 and $7.15 vs. compared to $6.35 and $6.75 previously.

 

 

  • Baxter International Inc. (BAX) Reports Third-Quarter 2022 Results; BAX reports Non-GAAP EPS of $0.82, in line with expectations but decreasing 20% year-over-year. Revenue increased 17.6% to $3.8 billion, which was $30 million more than expected. For full-year 2022 BAX now expects U.S. GAAP earnings (loss) of ($4.52) to ($4.45) per diluted share and adjusted earnings, before special items, of $3.53 to $3.60 per diluted share from prior outlook of $3.60 - $3.70

 

  • Altria Group, Inc. (MO) Reports 2022 Third-Quarter Results; MO reports Non-GAAP EPS of $1.28, missing analyst estimates by $0.02 but increasing 4.8% year-over-year. Revenue of $5.41 billion misses analyst estimates by $180 million and decreased 2.2% versus the same quarter last year. Management are narrowing our full-year 2022 guidance and now expect to deliver adjusted diluted EPS in a range of $4.81 to $4.89, representing a growth rate of 4.5% to 6% from a base of $4.61 in 2021.

 

 

 

  • WestRock Company (WRK) Increases Dividend; WRK today reported that its Board of Directors declared a quarterly dividend of $0.275 per share on its common stock, an increase of $0.025 per share from its previous dividend rate and representing an annualized increase of $0.10 per share, or 10%. The quarterly dividend of $0.275 per share will be paid to stockholders of record as of the close of business on November 10, 2022, and will be paid on November 23, 2022.

 

 

  • Lazard Ltd (LAZ) Reports Third-Quarter 2022 Results; LAZ reports third quarter Non-GAAP EPS of $1.05, a 7.14% above from last year and $0.24 ahead of estimates. Revenue grew 1.2% to $ 746.43 million, topping estimates $ 101.8 million. Average assets under management (AUM) for the third quarter of 2022 was $212 billion, 24% lower than the third quarter of 2021, and 8% lower than the second quarter of 2022.

 

 

 

  • Medical Properties Trust, Inc. (MPW) Reports Third Quarter Results; MPW reports third quarter FFO of $0.45, 2.27% higher than last year and in line with estimates. Revenue of $ 352.34 million misses analyst estimates by $ 36.68 million and decreased 9.8% versus the same quarter last year. Management is increasing its estimate of 2022 per share net income to $1.99 to $2.01 and is also tightening its estimate of 2022 per share NFFO to $1.80 to $1.82 from a prior range of $1.78 to $1.82.

 

 

 

October 28, 2022

 

  • NextEra Energy, Inc. (NEE) Reports Third-Quarter 2022 Financial Results; NEE reports Non-GAAP EPS of $0.85, a 13.3% increase from the previous year and $0.05 higher than expected. Revenue increased 53.8% to $6.72 billion, $950 million more than expected. For 2022 management continues to expect adjusted earnings per share to be in the range of $2.80 to $2.90 and also continues to expect to grow its dividends per share at an approximately 10% rate per year through at least 2024, off a 2022 base.

 

 

  • AbbVie Inc. (ABBV) Reports Third-Quarter 2022 Financial Results; ABBV reports Non-GAAP EPS of $3.66, beating analyst estimates by $0.10 and increased 29.3% year-over-year. Revenue of $14.81 billion misses analyst estimates by $130 million albeit increased 3.3% versus the same quarter last year. Management confirms midpoint of 2022 adjusted diluted EPS guidance range and narrows range from $13.76-13.96 to $13.84-13.88. Management declared an increase in the company's quarterly cash dividend from $1.41 per share to $1.48 per share beginning with the dividend payable on February 15, 2023 to shareholders of record as of January 13, 2023.

 

  • LyondellBasell Industries N.V. (LYB) Reports Third Quarter 2022 Earnings; LYB reports Non-GAAP EPS of $1.96, missing analyst estimates by $0.99 and decreasing 62.7% year-over-year. Revenue of $12.25 billion misses analyst estimates by $250 million and decreased 3.5% versus the same quarter last year. Management expects fourth quarter average operating rates of 75% for Olefins & Polyolefins Americas assets, 60% for Olefins & Polyolefins Europe assets and 75% for Intermediates & Derivatives assets.  The company remains watchful for market improvements in China.

 

  • Fortis Inc. (FTS) Releases Third Quarter 2022 Results; FTS reports third quarter Non-GAAP EPS of C$0.71, a 10.9% above from last year and C$0.21 ahead of estimates. Revenue grew 16.4% to C$2.55 billion, topping estimates C$160 million. Management announced annual dividend growth guidance of 4-6% guidance through 2027.

 

 

Articles that caught my attention:

 

 

 

 

Thanks for stopping by, have a nice next week!

 

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