Sunday, November 5, 2023

Week in Review 44/23



 

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:



October 30, 2023


  • €88.81– The Bank of Nova Scotia (BNS)
  • €61.56– Canadian Imperial Bank of Commerce (CM)


October 31, 2023


  • €141.87– Telia Company AB (TELIA)
  • €36.29– Edison International (EIX)
  • €13.30– LTC Properties, Inc. (LTC)
  • €97.72– The Toronto-Dominion Bank (TD)
  • €63.90– TC Energy Corporation (TRP)


November 1, 2023


  • €68.31– AT&T Inc. (T)
  • €116.93– Verizon Communications Inc. (VZ)
  • €29.05– General Mills, Inc. (GIS)
  • €32.07– Bristol-Myers Squibb Company (BMY)
  • €48.80– CVS Health Corporation (CVS)
  • €30.80– Power Corporation of Canada (TSE:POW)


November 2, 2023


  • €614.63– UPM-Kymmene Corporation (UPM)



Week 44: Total net dividends €1444.04


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



Portfolio Holdings News:



October 30, 2023


  • NCC AB (NCC) to modernize Ryhov County Hospital in Jönköping; NCC is to modernize the Ryhov County Hospital through extensive refurbishment and renovation as part of its framework agreement with Region Jönköping. The project will be carried out as part of a strategic partnering agreement with an order value of approximately SEK 220 million.



  • V.F. Corporation (VFC) Reports Second Quarter Fiscal 2024 Results; VFC reports third quarter Non-GAAP EPS of $0.63, 13.7% below last year's result and $0.02 less than expected. Revenue decreased 1.6% to $3.03 billion, which was 30 million more than expected. For 2024 Management guides free cash flow to be approximately $600 million compared to the previous guidance of approximately $900 million.


  • V.F. Corporation (VFC) Cut the Quarterly Dividend; VFC’s Board of Directors declared a quarterly dividend of $0.09 per share, reflecting a 70% decrease from the previous quarter's dividend. This dividend will be payable on December 20, 2023, to shareholders of record at the close of business on December 11, 2023.


  • Lockheed Martin Corporation (LMT) awarded a $996.21M contract for the MK21A Reentry Vehicle program.


  • Realty Income Corporation (O) to Acquire Spirit Realty Capital; O and Spirit Realty Capital, Inc. (Spirit, NYSE: SRC), announced today that the two companies have entered into a definitive merger agreement by which Realty Income will acquire Spirit in an all-stock transaction valued at an enterprise value of approximately $9.3 billion.


October 31, 2023



  • WEC Energy Group, Inc. (WEC) Reports Third-Quarter Results; WEC reports GAAP EPS of $1.00, beating analyst estimates by $0.09 and increased 4.2% year-over-year. Revenue of $1.96 billion misses analyst estimates by $30 million and decreased 2.0% versus the same quarter last year. Management is reaffirming its 2023 annual earnings guidance of $4.58 to $4.62 per share.


  • ONEOK, Inc. (OKE) Reports Third-Quarter Results; OKE reports GAAP EPS of $0.99, missing analyst estimates by $0.09 but increased 3.1% year-over-year. Revenue decreased 29.2% to $4.19 billion, which was 1.06 billion less than expected. Management increased pre-acquisition guidance midpoints net income from $2,490M to $2,610M and Diluted EPS from $5.54 to $5.81.


  • Pfizer Inc. (PFE) Reports Third-Quarter 2023 Results; PFE reports third quarter Non-GAAP EPS of -$0.17, beating analyst estimates by $0.17. Revenue of $13.2 billion misses analyst estimates by $230 million and decreased 41.6% versus the same quarter last year. Management reaffirms full-year 2023 guidance revenues of $58.0 to $61.0 billion and adjusted diluted EPS of $1.45 to $1.65.


  • Amgen Inc. (AMGN) Reports Third Quarter Financial Results; AMGN reports third quarter Non-GAAP EPS of $4.96, 6% above from last year and $0.28 ahead of estimates. Revenue of $6.9 billion misses analyst estimates by $50 million but increased 3.8% versus the same quarter last year. For the full year 2023 Management guides total revenues in the range of $28.0 billion to $28.4 billion and Non-GAAP EPS in the range of $18.20 to $18.80.


  • Lockheed Martin Corporation (LMT) was awarded a ~$177M firm-fixed price and a maximum amount to include a time and material ceiling amount of $100K on contract for F-16 Systems Program Office Foreign Military Sales support.


  • Eaton Corporation plc (ETN) Reports Third-Quarter Results; ETN reports third quarter Non-GAAP EPS of $2.47, 22% above from last year and $0.13 ahead of estimates. Revenue of $5.9 billion beats analyst estimates by $10 million and increased 11.3% versus the same quarter last year. Management narrowed full year organic growth guidance to a range of 11% to 12%, up 50 basis points at the midpoint, and raised adjusted earnings per share guidance to between $8.95 and $9.05, up $0.25 at the midpoint.


  • Unum Group (UNM) Reports Third Quarter 2023 Results; UNM reports third quarter Non-GAAP EPS of $1.94, 28.5% above last year and $0.03 ahead of estimates. Revenue increased 4.4% to $3.09 billion, which was 20 million less than expected. Management's full-year 2023 outlook for after-tax adjusted earnings per share growth of 20-25% compared to historically reported 2022 results.


  • Unum Group (UNM) Authorizes $500 Million Share Repurchase Program; UNM announced that its board of directors has approved a share repurchase program authorizing the company to repurchase up to $500 million of its common stock from time to time beginning on January 1, 2024. This program follows the company's current share repurchase program, which expires on December 31, 2023.



November 1, 2023



  • QUALCOMM Incorporated (QCOM) Announces Fourth Quarter and Fiscal 2023 Results; QCOM reports fourth quarter Non-GAAP EPS of $2.02, 35% below last year's result but $0.11 more than expected. Revenue of $8.67 billion beats analyst estimates by $150 million but decreased 23.9% versus the same quarter last year. For Q1 Management guides total revenue of $9.1B-$9.9B and Non-GAAP Diluted EPS of $2.25-$2.45.


  • Edison International (EIX) Reports Third Quarter 2023 Results; EIX reports third quarter Non-GAAP EPS of $1.38, 6.76% below last year's result and $0.07 less than expected. Revenue of $4.7 billion misses analyst estimates by $150 million and decreased 10.1 versus the same quarter last year. Management reaffirmed 2023 EPS guidance of $4.55-$4.85 and reiterated long-term core EPS growth rate target of 5%-7% for 2021-2025 and 5%-7% for 2025-2028.




  • The Kraft Heinz Company (KHC) Reports Third Quarter 2023 Results; KHC reports Non-GAAP EPS of $0.72, beating analyst estimates by $0.06 and increased 14.3% year-over-year. Revenue of $6.57 billion misses analyst estimates by $130 million but increased 1.1% versus the same quarter last year. Management raises full year Adjusted EPS to be in the range of $2.91 to $2.99, compared to the previous range of $2.83 to $2.91.


  • CVS Health Corporation (CVS) Reports Third Quarter Results; CVS reports third quarter Non-GAAP EPS of $2.21, 1.8% above from last year and $0.08 ahead of estimates. Revenue grew 10.6% to $89.8 billion, topping estimates $1.63 billion. Management confirmed Adjusted EPS guidance range of $8.50 to $8.70.


  • Aflac Incorporated (AFL) Announces Third Quarter Results; AFL reports Non-GAAP EPS of $1.84, beating analyst estimates by $0.35 and increased 27.8% year-over-year. Revenue of $4.95 billion beats analyst estimates by $500 million and increased 5.3% versus the same quarter last year. AFL's board of directors declared first quarter 2024 dividend of $0.50 per share, payable on March 1, 2024 to shareholders of record at the close of business on February 21, 2024. This represent a 19% increase from the regular quarterly dividends.


  • Prudential Financial, Inc. (PRU) Announces Third Quarter 2023 Results; PRU reports third quarter Non-GAAP EPS of $3.44, 45.2% above from last year and $0.31 ahead of estimates. Adjusted book value per Common share of $94.19 versus $96.41 per share for the year-ago quarter. Assets under management of $1.361 trillion versus $1.350 trillion for the year-ago quarter.


  • Main Street Capital (MAIN) Increased Monthly Dividend; MAIN announce that its Board of Directors declared regular monthly cash dividends of $0.24 per share for each of January, February and March 2024. This represent a 2.1% increase from the regular monthly dividends declared for the fourth quarter of 2023 and a 6.7% increase from the regular monthly dividends paid in the first quarter of 2023. In addition the Board of Directors declared a supplemental cash dividend of $0.275 per share payable in December 2023.


  • Nutrien Ltd. (NTR) Reports Third Quarter 2023 Results; NTR reports third quarter Non-GAAP EPS of $0.35, 86% below last year's result and $0.29 less than expected. Revenue of $5.63 billion misses analyst estimates by $110 million and decreased 31.3% versus the same quarter last year. Managements full-year 2023 adjusted net earnings guidance is revised to $4.15 to $5.00 per share.


November 2, 2023


  • Duke Energy Corporation (DUK) Reports Third-Quarter 2023 Financial Results; DUK reports third quarter Non-GAAP EPS of $1.94, 9.0% above from last year and $0.02 ahead of estimates. Revenue of $7.99 billion misses analyst estimates by $150 million but increased 1.9% versus the same quarter last year. Management is narrowing the adjusted 2023 EPS guidance range to $5.55 to $5.65 and reaffirming the long-term adjusted EPS growth rate of 5% to 7% through 2027 off the original 2023 midpoint of $5.65.


  • Pinnacle West Capital Corporation (PNW) Reports 2023 Third-Quarter Results; PNW reports GAAP EPS of $3.50, beating analyst estimates by $0.09 and increased 21.5% year-over-year. Revenue of $1.64 billion beats analyst estimates by $70 million and increased 11.6% versus the same quarter last year. For 2023, Management continues to project its consolidated earnings guidance will be in the range of $4.10 to $4.30 per diluted share.


  • ConocoPhillips (COP) Reports Third-Quarter 2023 Results; COP reports third quarter Non-GAAP EPS of $2.16, 40% below last year's result but $0.07 more than expected. Production for the third quarter of 2023 was 1,806 MBOED, an increase of 52 MBOED from the same period a year ago.


  • ConocoPhillips (COP) Increased Quarterly Dividend; COP announced a quarterly ordinary dividend of $0.58 per share, payable Dec. 1, 2023, to stockholders of record at the close of business on Nov. 14, 2023. This represent a 14% increase from the regular quarterly dividends.


  • Baxter International Inc. (BAX) Reports Third-Quarter 2023 Results; BAX reports Non-GAAP EPS of $0.68, decreasing 17.1% year-over-year and in-line with estimates. Revenue grew 3% to $3.71 billion, topping estimates $10 million. For FY23 Management expects adjusted earnings from continuing operations, before special items, of $2.57 to $2.60 per share.



  • Kontoor Brands, Inc. (KTB) Reports 2023 Third Quarter Results; KTB reports third quarter Non-GAAP EPS of $1.22, 10% above from last year and $0.03 ahead of estimates. Revenue grew 8.0% to $655 million, topping estimates $14 million. Management guides FY23 revenue to increase approximately 1 percent compared to FY22 and adjusted EPS is now expected to approximate $4.35, compared to the prior outlook of $4.55 to $4.75.


  • Main Street Capital Corporation (MAIN) Announces Third Quarter 2023 Results; MAIN reports third quarter Non-GAAP NII of $1.04, 18% above last year's result and $0.04 more than expected. Total investment income of $123.24 million misses analyst estimates by $0.55 million but increased 25.3% versus the same quarter last year. Net asset value of $28.33 per share at September 30, 2023, representing an increase of $0.64 per share, or 2.3%, compared to $27.69 per share at June 30, 2023, and $1.47 per share, or 5.5%, compared to $26.86 per share at December 31, 2022.



  • BCE Inc. (BCE) Reports Third Quarter 2023 Results; BCE reports third quarter Non-GAAP EPS of C$0.81, 8.0% below last year's result and in-line with estimates. Revenue of C$6.08 billion misses analyst estimates by C$60 million but increased 1.0% versus the same quarter last year.


  • Pembina Pipeline Corporation (TSE:PPL) Reports Results for the Third Quarter 2023; PPL reports third quarter GAAP EPS of C$0.57 beating analyst estimates by C$0.05. Revenue of C$2.29 billion beating analyst estimates by C$110 million but decreased 17.6% versus the same quarter last year. Management increased 2023 adjusted EBITDA guidance range to C$3.75 billion to C$3.85 billion (previously C$3.55 billion to C$3.75 billion).


November 3, 2023


  • Dominion Energy, Inc. (D) Announces Third-Quarter 2023 Earnings; D reports third quarter Non-GAAP EPS of $0.77, 22.2% below last year results and in-line of estimates. Revenue of $3.81 billion misses analyst estimates by $620 million and decreased 3.8% versus the same quarter last year. Management initiates fourth-quarter 2023 operating earnings (non-GAAP) guidance of $0.35 per share.



  • Cardinal Health, Inc. (CAH) Reports First Quarter Fiscal 2024 Results; CAH reports Non-GAAP EPS of $1.73, beating analyst estimates by $0.32 and increased 44% year-over-year. Revenue of $54.8 billion misses analyst estimates by $130 million but increased 10.5% versus the same quarter last year. Management raised Fiscal 2024 Non-GAAP EPS guidance to $6.75 to $7.00, from $6.50 to $6.75.


  • Magna International Inc. (MGA) Announces Third Quarter 2023 Results; MGA reports third quarter Non-GAAP EPS of $1.46, 32.7% above last year's result and $0.14 more than expected. Revenue grew 15.1% to $10.7 billion, topping estimates $340 million. Management guides FY23 outlook Total Sales of $42.1 - $43.1 billion and Adjusted Net Income attributable to Magna of $1.55 - $1.65 billion.


  • W. P. Carey Inc. (WPC) Announces Third Quarter 2023 Financial Results; WPC reports third quarter FFO of $1.32, 2.9% below last year results and in-line of estimates. Revenue grew 16.9% to $448.6 million, missing estimates by $1.43 million. Management lowered and narrowed 2023 AFFO guidance range to between $5.17 and $5.23 per diluted share and preliminary 2024 AFFO guidance of between $4.60 and $4.80 per diluted share.



  • TELUS Corporation (TSE:T) Increased Quarterly Dividend; T's Board of Directors declared a quarterly dividend of $0.3761 per share payable on January 2, 2024 to holders of record on December 11, 2023. This quarterly dividend reflects an increase of 7.1% from the $0.3511 per share dividend declared one year earlier and consistent with our multi-year dividend growth program.


  • Enbridge Inc. (ENB) Reports Third Quarter 2023 Financial Results; ENB reports third quarter Non-GAAP EPS of C$0.62, 7.5% below last year's result but C$0.03 more than expected. Distributable cash flow (DCF) of C$2.6 billion, an increase of C$0.1 billion, compared with C$2.5 billion in 2022. Management reaffirmed 2023 full year financial guidance for EBITDA and DCF inclusive of the recent share offering dilution.



Articles that caught my attention:





Thanks for stopping by, have a nice next week!


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