Sunday, July 28, 2024

Week in Review 30/24

 



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:



July 22, 2024


  • €20.64– Nutrien Ltd. (NTR)


July 23, 2024


  • €74.50– Kesko Corporation (KESKO)


July 24, 2024


  • €53.78– Cisco Systems, Inc. (CSCO)


July 25, 2024


  • €226.85– WestRock Company (WRK) - Cash payment from Smurfit WestRock merger


Week 30: Total net dividends €375.78


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



Portfolio Holdings News:



July 22, 2024


  • Verizon Communications Inc. (VZ) Reports Q2 2024 Results; VZ reports Non-GAAP EPS of $1.15, in line with analyst estimates but increasing 5.0% year-over-year. Revenue of $32.8 billion misses analyst estimates by $240 million but increased 0.6% versus the same quarter last year. Total wireless service revenue of $19.8 billion, a 3.5 percent increase year over year. For FY24 Management guides adjusted EPS of $4.50 to $4.70 and total wireless service revenue growth of 2.0 percent to 3.5 percent.


  • RTX Corporation (RTX): Cebu Pacific Celebrates Agreement for up to 152 A321neo Aircraft Order with Airbus, RTX's Pratt & Whitney; Cebu Pacific (CEB), Airbus, and Pratt & Whitney, held an official ceremony to commemorate a memorandum of understanding (MOU) signed for CEB's purchase of up to 152 A321neo aircraft for estimated USD $24 billion based on list prices, the largest aircraft order in Philippine aviation history. Pratt & Whitney is an RTX (NYSE: RTX) business. The binding MOU covers firm orders for up to 102 A321neo, plus 50 A320neo family purchase rights. CEB has selected Pratt & Whitney GTF™ engines to power the future aircraft.


  • United Parcel Service, Inc. (UPS) to Acquire Estafeta; UPS announced that it has entered into an agreement to acquire Estafeta, a leading Mexican express delivery company. This acquisition is a key part of UPS's 'Better and Bolder' strategy, aimed at becoming the world's premium international small package and logistics provider. The value and terms of the deal were not disclosed.


July 23, 2024


  • UPM-Kymmene Corporation (UPM) Interim Report Q2 2024; UPM reports comparable EPS of €0.23, which was 53.3% higher than in the comparison period. Revenue fell 0.5% to $€2,546 million, missing estimates by €40 million. Management guides that 2024 comparable operating profit is expected to increase from 2023. Comparable operating profit was €182 million in April-June, compared to €114 million a year earlier. Management expects comparable operating profit to increase this year compared to 2023.


  • UPM-Kymmene Corporation's (UPM) Raflatac accelerates its growth in Graphics by acquiring Grafityp; UPM Raflatac has acquired Grafityp, a Belgian-based company to further accelerate its growth in graphics solutions. Merging UPM Raflatac’s existing Graphics business with Grafityp will strengthen UPM Raflatac’s overall competitive positioning in this attractive product segment, expand its portfolio and give access to high-value new technologies. Both parties have agreed not to disclose the purchase price or other transaction details.


  • Kesko Corporation (KESKO) Reports Second-Quarter Results 2024; KESKO reports comparable EPS €0.30, missing analyst estimates by €0.02 and decreasing 21.1% year-over-year. Revenue of €3,093.4 million beats analyst estimates by €21 million but decreased 0.4% versus the same quarter last year. Comparable operating profit decreased to €178.3 million from €207.6 million a year earlier. Analysts forecast an operating profit of €181.3 million. Management expects comparable operating profit in 2024 to be €620-€680 million.



  • Texas Instruments Incorporated (TXN) Reports Second Quarter 2024 Financial Results; TXN reports second quarter GAAP EPS of $1.22, 35% below last year's result but $0.06 more than expected. Revenue of $3.82 was in line with analyst estimates and decreased 15.7% versus the same quarter last year. Management guides third quarter revenue in the range of $3.94 billion to $4.26 billion and earnings per share between $1.24 and $1.48.



  • Philip Morris International Inc. (PM) Reports 2024 Second-Quarter Results; PM reports Q2 Non-GAAP EPS of $1.59, 0.6% below last year's result but $0.03 more than expected. Revenue grew 5.6% to $9.47 billion, topping estimates $280 million. For FY24 Management guides reported diluted EPS to be in a range of $5.89 to $6.01, at prevailing exchange rates, versus reported diluted EPS of $5.02 in 2023.


  • The Coca-Cola Company (KO) Reports Second Quarter 2024 Results; KO reports Non-GAAP EPS of $0.84, up 7% versus prior year and $0.03 ahead of estimates. Revenue of $12.4 billion beats analyst estimates by $650 million and increased 3.3% versus the same quarter last year. Mangement sees full-year adjusted organic revenue growth of +9% to +10% and EPS of $2.82 to $2.85 is anticipated.


  • Lockheed Martin Corporation (LMT) Reports Second Quarter 2024 Financial Results; LMT reports second quarter Non-GAAP EPS of $7.11, 5.7% above from last year and $0.66 more than expected. Revenue grew 9.0% to $18.1 billion, which was$1.09 billion more than expected. For 2024, management expects revenues to be between $70,500 and $71,500 million, diluted earnings per share to be between $26.10 - $26.60 and Free cash flow to be between $6,000 - $6,300 million.



  • United Parcel Service, Inc. (UPS) Releases 2Q 2024 Earnings; UPS reports second quarter Non-GAAP EPS of $1.79, 29.5% below last year's result and $0.20 less than expected. Revenue of $21.8 billion misses analyst estimates by $440 million and decreased 1.4% versus the same quarter last year. Management guides for FY24 revenue to be approximately $93.0 billion and adjusted operating margin expected to be approximately 9.4%. Targeting around $500 million in share repurchases.


  • Visa Inc. (V) Reports Third Quarter 2024 Financial Results; V reports Q3 Non-GAAP EPS of $2.42, 12.0% above last year's result and in line with estimates. Revenue grew 9.9% to $8.9 billion, which was $20 million less than expected. Payments volume for the three months ended June 30, 2024 increased 7% over the prior year on a constant-dollar basis.


  • Canadian National Railway Company (TSE:CNR) Announces Second Quarter Results; CNR reports Non-GAAP EPS of C$1.84, missing analyst estimates by C$0.09 albeit increasing 4.6% year-over-year. Revenue of C$4.25 billion misses analyst estimates by C$30 million and decreased 1.4% versus the same quarter last year.Revenue grew 6.7% to C$4.33 billion, missing estimates by C$40 million. Management now expects full-year diluted EPS growth in the mid to high single-digit range. It previously projected a growth of about 10%. CNR continues to target compounded annual diluted EPS growth of 10% to 15% over the 2024 to 2026 period.


July 24, 2024


  • AT&T Inc. (T) Reports Second-Quarter Results; T reports second quarter Non-GAAP EPS of $0.57, down from $0.63 a year earlier but $0.01 in line with analyst estimates. Revenue of $29.8 billion misses analyst estimates by $180 million and decreased 0.4% versus the same quarter last year. Management continues to expect 2024 free cash flow of $17-$18 billion and adjusted EPS of $2.15 to $2.25.


  • NextEra Energy, Inc. (NEE) Reports Second-Quarter 2024 Financial Results; NEE reports Q2 Non-GAAP EPS of $0.96, up 9.1% versus prior year and $0.01 ahead of estimates. Revenue of $6.07 billion misses analyst estimates by $1.38 billion and decreased 17.4% versus the same quarter last year. Management continues to expect adjusted earnings per share to be in the range of $3.23 to $3.43 and also continues to expect to grow its dividends per share at a roughly 10% rate per year through at least 2026, off a 2024 base.




July 25, 2024


  • Neste Corporation (NESTE) Reports Interim Report for January–June 2024; NESTE reports second quarter comparable EPS of €-0.05, €0.68 below last year's result. Revenue of €4.6 billion beats analyst estimates by €798 million but decreased 13.3% versus the same quarter last year. Comparable EBITDA sank to €240 million, compared to €784 million in the second quarter of last year while the analyst consensus forecast expected a comparable EBITDA of around €315 million.


  • Unilever plc (AMS:UNA) reports 2024 First Half Results; UNA reports 1H Non-GAAP EPS of €1.62, 16.3% above last year's result. Turnover of €31.12 billion, 2.3% above from last year result. Underlying sales growth of 4.1%, with volumes up 2.6%. Management increased the quarterly interim dividend for Q2 by 3.0% to €0.4396, the first increase since Q4 2020. For full year 2024 Management guides underlying sales growth of 3% to 5%.



  • Edison International (EIX) Reports Second-Quarter 2024 Results; EIX reports Q2 Non-GAAP EPS of $1.23, beating analyst estimates by $0.16 and increased 21.8% year-over-year. Revenue grew 9.6% to $4.34 billion, topping estimates by $220 million. Management reaffirmed 2024 core EPS guidance of $4.75 to $5.05 and reiterates long-term core EPS growth rate targets 5%-7% for 2025-2028.


  • AbbVie Inc. (ABBV) Reports Second-Quarter 2024 Financial Results; ABBV reports Q2 Non-GAAP EPS of $2.65, 8.9% below last year result and $0.01 below of estimates. Revenue of $14.46 billion beats analyst estimates by $430 million and increased 4.3% versus the same quarter last year. Management raises 2024 Adjusted Diluted EPS Guidance Range from $10.61 - $10.81 to $10.71 - $10.91.


  • RTX Corporation (RTX) Reports Q2 2024 Results; RTX reports second quarter Non-GAAP EPS of $1.41, 9% above from last year and $0.11 more than expected. Revenue grew 7.5% to $19.8 billion, topping estimates by $520 million. Company backlog of $206 billion: including $129 billion of commercial and $77 billion of defense. For for full year 2024 Management guides adjusted sales of $78.75 - $79.5 billion, adjusted EPS of $5.35 - $5.45 and free cash flow of approximately $4.7 billion.


  • L3Harris Technologies, Inc. (LHX) Reports Second Quarter 2024 Results; LHX reports Q2 Non-GAAP EPS of $3.24, up 9.1% versus prior year and $0.06ahead of estimates. Revenue of $5.3 billion misses analyst estimates by $10 million but increased 13% versus the same quarter last year. For 2024 Management increases revenue guidance range from $20.8B - $21.3B to $21.0B - $21.3B and Non-GAAP EPS guidance range increases from $12.70 - $13.05 to $12.85 - $13.15.



  • Digital Realty Trust, Inc. (DLR) Reports Second Quarter 2024 Results; DLR reports second quarter FFO of $1.65, 1.8% below last year's result but $0.02 more than expected. Revenue of $1.36 billion misses analyst estimates by $20 million and decreased 0.7% versus the same quarter last year. Management maintained its 2024 Core FFO per share outlook of $6.60 - $6.75.


July 26, 2024





Articles that caught my attention:





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