Sunday, May 7, 2023

Week in Review 18/23



 

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:



May 1, 2023


  • €65.29 – AT&T Inc. (T)
  • €92.11 – Verizon Communications Inc. (VZ)
  • €34.70 – Edison International (EIX)
  • €25.41 – General Mills, Inc. (GIS)
  • €30.65 – Bristol-Myers Squibb Company (BMY)
  • €47.09 – CVS Health Corporation (CVS)
  • €85.86 – The Toronto-Dominion Bank (TSE:TD)
  • €59.13 – Canadian Imperial Bank of Commerce (TSE:CM)
  • €30.00 – Power Corporation of Canada (TSE:POW)
  • €62.39 – TC Energy Corporation (TSE:TRP)


Week 18: Total net dividends €532.63


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



My Portfolio's Transactions:



May 4, 2023


  • I purchased 20 shares of The Toronto-Dominion Bank (TSE:TD) at C$81.02 per share plus commission.


At today's exchange rate, that purchase 20 shares of TDwill increase €38.81 of my expected annual net dividend income and will increase my portfolio's projected annual net dividend income to €21,00.00. With purchase price C$81.02 plus commission (C$11.96) my yield on cost is 6.72%. After this acquisition, TD’s weight of my portfolio is about 1.75% and its share of future annual dividend income is approximately 1.85%.



Portfolio Holdings News:



May 1, 2023


  • WEC Energy Group, Inc. (WEC) Reports First-Quarter Results; WEC reports first quarter GAAP EPS of $1.61, 10.1% below from last year but $0.03 ahead of estimates. Revenue of $2.89 billion misses analyst estimates by $10 million and decreased 0.3% versus the same quarter last year. Management is reaffirming its 2023 annual earnings guidance of $4.58 to $4.62 per share, assuming normal weather for the remainder of the year.


  • Medifast, Inc. (MED) Announces First Quarter 2023 Financial Results; MED reports first quarter GAAP EPS of $3.67, 2.2% above from last year and $1.27 ahead of estimates. Revenue of $349 million beats analyst estimates by $29.5 million but decreased 16.4% versus the same quarter last year. Management expects second quarter 2023 revenue to be in the range of $250 million to $270 million and second quarter 2023 diluted EPS to be in the range of $1.32 to $1.44.


  • Enbridge Inc. (ENB)to Acquire Aitken Creek Natural Gas Storage; ENB announced that, through a wholly-owned subsidiary, it has entered into a definitive agreement with FortisBC Holdings Inc. to acquire its interest in FortisBC Midstream Inc., which holds a 93.8% interest in Aitken Creek Gas Storage facility and a 100% interest in Aitken Creek North Gas Storage facility (collectively, Aitken Creek Storage) for $400 million, subject to customary closing adjustments.


May 2, 2023


  • Edison International (EIX) Reports First Quarter 2023 Results; EIX reports first quarter Non-GAAP EPS of $1.09, 1.9% above from last year and $0.11 ahead of estimates. Revenue of $3.97 billion misses analyst estimates by €30 million and was flat versus the same quarter last year. Management affirmed 2023 EPS guidance of $4.55-$4.85 and long-term EPS growth rate target of 5%-7% for 2021-2025.




  • Pfizer Inc. (PFE) Reports First-Quarter 2023 Results; PFE reports first quarter Non-GAAP EPS of $1.23, 24% below last year's result but $0.24 more than expected. Revenue decreased 28.8% to $18.3 billion, which was $1.81 billion more than expected. Management provides Full-Year 2023 revenue guidance of $67.0 billion to $71.0 billion and adjusted diluted EPS guidance of $3.25 to $3.45.


  • CVS Health Corporation (CVS) completes acquisition of Oak Street Health; CVS announced it has completed its acquisition of Oak Street Health. The acquisition will broaden CVS Health’s value-based primary care platform and significantly benefit patients’ long-term health by improving outcomes and reducing costs – particularly for those in underserved communities.


  • Starbucks Corporation (SBUX) Reports Q2 Fiscal 2023 Results; SBUX reports Non-GAAP EPS of $0.74, beating analyst estimates by $0.09 by increasing 25% year-over-year. Revenue grew 14.5% to $8.7 billion, topping estimates by $270 million. The company opened 464 net new stores in Q2, inclusive of closures across North America and International as part of ongoing efforts to strengthen the portfolio, ending the period with 36,634 stores globally.



  • Triton International Limited (TRTN) Reports First Quarter 2023 Results; TRTN reports Non-GAAP EPS of $2.42, beating analyst estimates by $0.10 but decreasing 12.3% year-over-year. Revenue of $397.7 million beats analyst estimates by $3.1 million but decreased 4.7% versus the same quarter last year. Utilization averaged 97.6% in the first quarter of 2023 and was 97.1% as of April 25, 2023.


  • Illinois Tool Works Inc. (ITW) Reports First Quarter 2023 Results; ITW reports first quarter GAAP EPS of $2.33, 10% above last year's result and $0.11 more than expected. Revenue grew 2.6% to $4.0 billion, topping estimates by $20 million. Management raising full year GAAP EPS guidance by $0.05 to a range of $9.45 to $9.85.


  • Lockheed Martin Corporation (LMT) receives $1.4B contract for further development of crucial F-35 warfighting capabilities.


  • Eaton Corporation plc (ETN) Reports First Quarter 2023 Results; ETN reports first quarter Non-GAAP EPS of $1.88, 16% above from last year and $0.10 ahead of estimates. Revenue of $5.48 billion beats analyst estimates by $250 million and increased 13.2% versus the same quarter last year. For the full year 2023, Management is increasing its organic growth guidance from 7-9% to 9-11% and raising adjusted earnings per share to between $8.30 and $8.50.


  • T. Rowe Price Group, Inc. (TROW) Reports First Quarter 2023 Results; TROW reports Non-GAAP EPS of $1.69, beating analyst estimates by $0.06 but decreasing 35.5% year-over-year. Revenue fell 17.2% to $1.54 billion, which was in line with expectations. During Q1 2023, assets under management (AUM) increased $67.0 billion to $1.34 trillion.


  • Main Street Capital Corporation (MAIN) Announces Monthly Dividend Increase; MAIN announce that its Board of Directors declared regular monthly cash dividends of $0.23 per share for each of July, August and September 2023. This represent a 2.2% increase from the regular monthly dividends declared for the second quarter of 2023 and a 7.0% increase from the regular monthly dividends paid in the third quarter of 2022. In addition the Board of Directors of MAIN declared a supplemental cash dividend of $0.225 per share payable in June 2023.


  • Prudential Financial, Inc. (PRU) Announces First Quarter 2023 Results; PRU reports Non-GAAP EPS of $2.66, missing analyst estimates by $0.26 and decreasing 14.2% year-over-year. Book value per Common share of $85.33 versus $76.77 per share for the year-ago quarter; adjusted book value per Common share of $97.29 versus $102.09 per share for the year-ago quarter.


  • Unum Group (UNM) Reports First Quarter 2023 Results; UNM reports Non-GAAP EPS of $1.87, beating analyst estimates by $0.22 and increasing 40.6% year-over-year. Revenue of $3.03 billion misses analyst estimates by $20 million but increased 1.7% versus the same quarter last year. Book value per common share of $46.85 grew 37.3 percent over the year-ago quarter.



May 3, 2023



  • UGI Corporation (UGI) Second Quarter Results; UGI reports Non-GAAP EPS of $1.68, missing analyst estimates by $0.13 and decreasing 12.0% year-over-year. Revenue fell 10.7% to $3.1 billion, which was in line with expectations. Management updated fiscal 2023 adjusted diluted EPS guidance to a range of $2.75 - $2.90 per share.


  • UGI Corporation (UGI) Increased Quarterly Dividend; The Board of Directors of UGI has declared a quarterly dividend of $0.375 per share of the Company’s common stock, representing a 4.2% increase. The dividend is payable July 1, 2023, to shareholders of record as of June 15, 2023.




  • Avista Corporation (AVA) Reports Financial Results; AVA reports GAAP EPS of $0.73, missing analyst estimates by $0.43 and decreasing 26.3% year-over-year. Revenue of $460.14 million misses analyst estimates by $25.23 million but increased 2.5% versus the same quarter last year. Management are confirming 2023 consolidated earnings guidance with a range of $2.27 to $2.47 per diluted share.


  • The Kraft Heinz Company (KHC) Reports First Quarter 2023 Results; KHC reports Non-GAAP EPS of $0.68, beating analyst estimates by $0.08 and increased 7.9% year-over-year. Revenue of $6.49 billion beats analyst estimates by $100 million and increased 7.3% versus the same quarter last year. Management is raising 2023 Constant Currency Adjusted EBITDA guidance to growth of 4 to 6 percent versus 2022 and raising 2023 Adjusted EPS guidance to be in the range of $2.83 to $2.91.


  • CVS Health Corporation (CVS) Reports Frst Quarter Results; CVS reports Non-GAAP EPS of $2.20, beating analyst estimates by $0.11 but decreasing 4.4% year-over-year. Revenue of $85.3 billion beats analyst estimates by $4.63 billion and increased 11.0% versus the same quarter last year. Management guides for full year Adjusted EPS guidance range to $8.50 to $8.70 from $8.70 to $8.90 and cash flow from operations guidance range of $12.5 billion to $13.5 billion.


  • Emerson Electric Co. (EMR) Reports Second Quarter 2023 Results; EMR reports second quarter Non-GAAP EPS of $1.09, 25% above from last year and $0.10 ahead of estimates. Revenue grew 14.3% to $3.76 billion, topping estimates by $110 million. For 2023 Management guides Net Sales Growth of 9% - 10.5% and Adjusted Earnings Per Share of $4.15 - $4.25.




  • Fortis Inc. (FTS) Releases First Quarter 2023 Results; FTS reports first quarter Non-GAAP EPS of C$0.91, 16.7% above last year's result and C$0.30 more than expected. Revenue of C$3.32 billion beats analyst estimates by C$190 million and increased 17.1% versus the same quarter last year.



May 4, 2023


  • Pinnacle West Capital Corporation (PNW) Reports 2023 First-Quarter Financial Results; PNW GAAP EPS of -$0.03, missing analyst estimates by $0.03. This result compares income of $0.15 per diluted share, for the same period in 2022. Revenue of $944.96 million beats analyst estimates by $136.63 million and increased 20.6% versus the same quarter last year. For 2023, Management continues to project its consolidated earnings guidance will be in the range of $3.95 to $4.15 per diluted share.


  • ConocoPhillips (COP) Reports First-Quarter 2023 Results; COP reports Non-GAAP EPS of $2.38 , beating analyst estimates by $0.31 but decreasing 45.8% year-over-year. Production for the first quarter of 2023 was 1,792 MBOED, an increase of 45 MBOED from the same period a year ago. Second-quarter 2023 production is expected to be 1.77 to 1.81 million barrels of oil equivalent per day (MMBOED). Management announced a VROC of $0.60 per share, payable July 14, 2023, to stockholders of record at the close of business on June 27, 2023.


  • Cardinal Health, Inc. (CAH) Reports Third Quarter Fiscal Year 2023 Results; CAH reports third quarter Non-GAAP EPS of $1.74, 20% above from last year and $0.25 ahead of estimates. Revenue of $50.5 billion beats analyst estimates by $870 million and increased 1.8% versus the same quarter last year. Management raised and narrowed Fiscal year 2023 non-GAAP EPS guidance to $5.60 to $5.80, from $5.20 to $5.50 and adjusted free cash flow guidance to $2.0 to $2.3 billion, from $1.5 to $2.0 billion.


  • Kontoor Brands, Inc. (KTB) Reports 2023 First Quarter Results; KTB reports GAAP EPS of $1.16, missing analyst estimates by $0.03 and decreasing 17.1% year-over-year. Revenue of $667.1 million misses analyst estimates by $4.81 million and decreased 1.9% versus the same quarter last year. Management expect FY’23 EPS to be in the range of $4.55 to $4.75.



  • Raytheon Technologies Corporation (RTX) and Lockheed Martin Corporation (LMT) win $1.02B contract for Javelin Weapon System and support equipment with completion estimated by May 2027.



  • The Toronto-Dominion Bank (TD) and First Horizon Mutually Agree to Terminate Merger Agreement; TD and First Horizon Corporation (NYSE: FHN) today announced that they have entered into a mutual agreement to terminate their previously announced merger agreement, originally announced on February 28, 2022. TD informed First Horizon that TD does not have a timetable for regulatory approvals to be obtained for reasons unrelated to First Horizon. Because there is uncertainty as to when and if these regulatory approvals can be obtained, the parties mutually agreed to terminate the merger agreement.



  • TELUS Corporation (TSE:T) Reports First Quarter 2023 Results; T reports first quarter Non-GAAP EPS of C$0.27, 10% below from last year but C$0.01 ahead of estimates. Revenue grew 15.9% to C$4.96 billion, topping estimates by C$70 million. Management reiterating 2023 Consolidated Financial Targets including Operating Revenue and Adjusted EBITDA growth of 11 to 14% and 9.5 to 11%.


  • TELUS Corporation (TSE:T) Increased Quarterly Dividend; Board of Directors of T declared a quarterly dividend of C$0.3636 per share payable on July 4, 2023 to holders of record at the closeof business on June 9, 2023. This quarterly dividend reflects an increase of 7.4 per cent from the C$0.3386 per share dividend declared one year earlier and consistent with our multi-year dividend growth program.


  • BCE Inc. (BCE) to acquire cloud-services leader FX Innovation; BCE announced that it has entered into an agreement to acquire FX Innovation, a Montréal-based provider of cloud-focussed managed and professional services and workflow automation solutions for business clients. The transaction is expected to close in the Q2 or Q3 2023.


  • BCE Inc. (BCE) Reports First Quarter 2023 Results; BCE reports first quarter Non-GAAP EPS of C$0.85, a 4.5% below from last year but C$0.08 ahead of estimates. Revenue of C$6.05 billion beats analyst estimates by C$60 million and increased 3.4% versus the same quarter last year. Management reconfirming all 2023 financial guidance targets: Revenue growth of 1% to 5%, Adjusted EBITDA growth of 2% to 5%, Adjusted EPS growth of (3%) to (7%).





May 5, 2023


  • Dominion Energy, Inc. (D) Announces First-Quarter 2023 Earnings; D reports Non-GAAP EPS of $0.99, beating analyst estimates by $0.02 albeit decreased 16.1% year-over-year. Revenue of $5.25 billion beats analyst estimates by $790 million and increased 22.7% versus the same quarter last year. Management initiates second quarter 2023 operating earnings guidance of $0.58 to $0.68 per share.



  • General Dynamics Corporation (GD) has been awarded a $137.86M contract to develop and sustain the Special Warfare Assault Kit system-of-systems.


  • Magna International Inc. (MGA) Announces First Quarter 2023 Results; MGA reports first quarter Non-GAAP EPS of $1.11, 13.3% below from last year and $0.28 ahead of estimates. Revenue of $10.7 billion beats analyst estimates by $800 million and increased 11% versus the same quarter last year. Management raised Adjusted EBIT Margin Outlook range to 4.7%-5.1% from 4.1%-5.1%, Total Sales of $40.2 - $41.8 billion, Net Income attributable to Magna of $1.3 - $1.5 billion.


  • Enbridge Inc. (ENB) Reports First Quarter 2023 Financial Results; ENB reports Non-GAAP EPS of C$0.85, beating analyst estimates by C$0.01 by increasing 1.2% year-over-year. Revenue of C$12.08 billion misses analyst estimates by C$392 million and decreased 20% versus the same quarter last year. Distributable cash flow of $3.2 billion, compared with $3.1 billion in 2022. Management reaffirmed 2023 full year financial guidance for EBITDA and DCF and medium-term outlook, which includes adjusted EBITDA between C$15.9 billion and C$16.5 billion and DCF per share between C$5.25 to C$5.65.



Articles that caught my attention:





Thanks for stopping by, have a nice next week!


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