Sunday, November 12, 2023

Week in Review 45/23



 

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:



November 7, 2023


  • €46.13– Medifast, Inc. (MED)


November 9, 2023


  • €57.09– NCC AB (NCC)



Week 45: Total net dividends €103.22


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



My Portfolio's Transactions:



November 7, 2023


  • I opened a new position and purchased 60 shares of Essential Utilities, Inc. (WTRG) at $35.25 per share plus commission.


At today's exchange rate, that purchase 60 shares of WTRG will increase €51.24 of my expected annual net dividend income. With purchase price $35.25 plus commission ($5.34) my starting yield on cost is 3.48%. After this acquisition, WTRG’s weight of my portfolio is about 0.30% and its share of future annual dividend income is approximately 0.23%.


  • I purchased 20 shares of Realty Income Corporation (O) at $50.08 per share plus commission.


At today's exchange rate, that purchase 20 shares of Realty Income will increase €42.72 of my expected annual net dividend income. Following this acquisition, the portfolio now contains a total of 190 Realty Income shares at an average purchase price of 62.87 and yield on cost is 4.89%. After this acquisition, Realty Income ’s weight of my portfolio is about 1.42% and its share of future annual dividend income is approximately 1.83%.



Portfolio Holdings News:



November 6, 2023


  • Essential Utilities, Inc. (WTRG) Reports Financial Results for Q3 2023; WTRG reports third quarter GAAP EPS of $0.30, 15.4% above from last year and $0.01 ahead of estimates. Revenue of $411.26 million misses analyst estimates by $43.94 million and decreased 5.4% versus the same quarter last year. Management guides: In 2023, net income per diluted common share will be $1.85 to $1.90 and through 2025, earnings per share will grow at a compounded annual growth rate of 5 to 7%, based off the company’s 2022 earnings per share of $1.77.



  • Medifast, Inc. (MED) Announces Third Quarter 2023 Financial Results; MED reports third quarter GAAP EPS of $2.12, 36% below last year's result but $1.01 more than expected. Revenue of $235.9 million beats analyst estimates by $1.67 million but decreased 39.6% versus the same quarter last year. Management guides full-year 2023 revenue to be in the range of $1,050 million to $1,070 million and full-year 2023 diluted EPS to be in the range of $8.65 to $9.55.


  • Air Products and Chemicals, Inc. (APD) to Build Europe’s Largest Blue Hydrogen Plant and Strengthens Long-term Agreement; APD announced it will build, own and operate a state-of-the-art carbon capture and carbon dioxide (CO2) treatment facility at its existing hydrogen production plant in Rotterdam, the Netherlands. The facility is expected to be on-stream in 2026, and the resulting "blue" hydrogen product to serve ExxonMobil’s (Esso) Rotterdam refinery and additional customers via Air Products' hydrogen pipeline network system. This will be the largest blue hydrogen plant in Europe once operational.




November 7, 2023


  • Gilead Sciences, Inc. (GILD) Announces Third Quarter 2023 Financial Results; GILD reports Non-GAAP EPS of $2.29, beating analyst estimates by $0.38 and increased 20.5% year-over-year. Revenue of $7.1 billion was flat compared to the same period in 2022 and topping estimates by $260 million. For the full-year Management expects product sales between $26.7 billion and $26.9 billion, compared to $26.3 billion and $26.7 billion previously and Non-GAAP diluted earnings per share between $6.65 and $6.85, compared to $6.45 and $6.80 previously.


  • Viatris Inc. (VTRS) Reports Financial and Operational Results for the Third Quarter 2023; VTRS reports third quarter GAAP EPS of $0.27, 6.9% below last year's result and $0.07 less than expected. Revenue of $3.94 billion misses analyst estimates by $60 million and decreased 3.2 versus the same quarter last year. For FY23 Management guides total Revenues of $15.4B - $15.6B, Adjusted EBITDA of $5.0B - $5.4B and Free Cash Flow of $2.3B - $2.7B.


  • Lockheed Martin Corporation (LMT) was awarded a $503.68M modification (P00003) to contract W31P4Q-22-D-0022 for Patriot Advanced Capability-3 logistics support.


  • Emerson Electric Co. (EMR) Reports Fourth Quarter and Full Year 2023 Results: EMR reports fourth quarter Non-GAAP EPS of $1.29, 4.03% above last year's result but $0.02 less than expected. Revenue of $4.09 billion misses analyst estimates by $100 million but increased 5.1 versus the same quarter last year. For 2024 Management guides Net Sales Growth of 13% - 15.5%, Adjusted Earnings Per Share of $5.15-$5.35 and Operating Cash Flow of ~$3.0B-$3.1B.



  • Air Products and Chemicals, Inc. (APD) Reports Fiscal 2023 Fourth Quarter Results; APD reports Non-GAAP EPS of $3.15, beating analyst estimates by $0.04 and increased 11% year-over-year. Revenue of $3.2 billion misses analyst estimates by $150 million and decreased 10.4% versus the same quarter last year. Management guides Fiscal 2024 full-year adjusted EPS of $12.80 to $13.10, up 13 percent at the midpoint over prior year adjusted EPS and fiscal 2024 first quarter adjusted EPS guidance of $2.90 to $3.05, up 13 percent at the midpoint over prior year first quarter adjusted EPS.


November 8, 2023




  • Ahold Delhaize N.V. (AMS:AD) Announces Third Quarter Financial Results; AD reports third quarter diluted underlying EPS was €0.58, 17.1% below last year's result and €0.02 less than expected. Revenue decreased 2.1% to €21.9 billion, which was €60 million more than expected. For 2023, Management now expects free cash flow in a range of €2.2 billion to €2.4 billion (previously: a range from €2.0 to €2.2 billion) and underlying EPS slightly below 2022 levels (previously: around 2022 levels). AD announces a €1 billion share buyback program to start at the beginning of 2024.




November 9, 2023


  • General Mills, Inc. (GIS) Acquires Fera Pets, Inc.; GIS announced the acquisition of Fera Pets, Inc., a vet-founded pet supplement company, bringing new health-focused offerings to General Mills’ pet portfolio. This represents General Mills’ first step into the pet supplement category and first acquisition by its newly launched growth equity fund.




  • Lockheed Martin Corporation (LMT) was awarded a not-to-exceed ceiling of $238M undefinitized contract action for initial spares provisioning for F-16 Systems Program Office Foreign Military Sales support.


November 10, 2023


  • Walgreens Boots Alliance, Inc. (WBA) Sells Shares of Cencora, Inc.; WBA announced that it has sold shares of Cencora (NYSE:COR) in reliance on Rule 144 for current proceeds of approximately $424M and, depending on the stock price at the time, potentially additional proceeds at maturity, along with a concurrent share repurchase by Cencora of approximately $250M. WBA’s ownership of Cencora’s has decreased as a result of the concurrent share repurchase by Cencora but remains at approximately 15%.






Articles that caught my attention:





Thanks for stopping by, have a nice next week!


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