Sunday, August 11, 2024

Week in Review 32/24

 



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:



August 6, 2024


  • €112.37 – Telia Company (TELIA)


August 7, 2024


  • €28.81 – JPM Global Equity Premium Income UCITS ETF (JGPI.DE)


August 9, 2024


  • €51.82– General Dynamics Corporation (GD)


Week 32: Total net dividends 179.79


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



My Portfolio's Transactions:



August 5, 2024


  • I purchased 50 shares of JPM Global Equity Premium Income UCITS ETF (JGPI.DE) at €23.94 per share plus commission.


Based on the latest announcement, for September JGPI pays a dividend of $0.1081. During the eight month period, JGPI has declared a total dividend of $1.0562, if the dividend remains at this level in the future, it will be $1.5843 per year. At today's exchange rate, that purchase 50 shares of JGPI will increase €50.84 of my expected annual net dividend income. After this acquisition my yield on cost is 6.60%, JGPI’s weight of my portfolio is about 1.42% and its share of future annual dividend income is approximately 1.81%. For now, my plan is to increase the amount of JGPI in my portfolio on a monthly basis.


August 6, 2024


  • I opened a new position and purchased 100 shares of TietoEVRY Oyj (TIETO) at €17.69 per share plus commission.


Assuming the dividend remains at the same level, currently €1.47 per year, that purchase 100 shares of TietoEVRY will increase €109.52 of my expected annual net dividend income. With purchase price €17.69 plus commission (€5.00) my starting yield on cost is 8.29%. After this acquisition, TIETO’s weight of my portfolio is about 0.26% and its share of future annual dividend income is approximately 0.49%.



Portfolio Holdings News:


August 5, 2024


  • Essential Utilities, Inc. (WTRG) Reports Financial Results for Q2 2024; WTRG reports GAAP EPS of $0.28, missing analyst estimates by $0.07 and decreasing 17.7% year-over-year. Revenue of $434.41 million misses analyst estimates by $10.29 million and decreased 0.5% versus the same quarter last year. In February, Management provided guidance for 2024 net income per diluted common share to be $1.96 to $2.00. We anticipate exceeding this 2024 guidance as a result of the gain on sale of the energy plant assets, despite the warmer-than-normal weather that resulted in lower regulated natural gas operating revenues year-to-date.





August 6, 2024


  • Duke Energy Corporation (DUK) Reports Second-Quarter 2024 Financial Results; DUK Reports Second-Quarter 2024 Financial Results; DUK reports Q2 Non-GAAP EPS of $1.18, beating analyst estimates by $0.16 and increased 9.0% year-over-year. Revenue grew 9% to $7.17 billion, topping estimates by $610 million. Management is reaffirming its 2024 adjusted EPS guidance range of $5.85 to $6.10, and longterm adjusted EPS growth rate of 5% to 7% through 2028 off the 2024 midpoint of $5.98.


  • Baxter International Inc. (BAX) Reports Second-Quarter 2024 Results; BAX reports Q2 Non-GAAP EPS of $0.68, 3.0% above from last year and $0.02 more than expected. Revenue for the quarter ended June 30 was $3.81 billion, compared with $3.71 billion a year earlier, while analysts expected $3.75 billion. Management increases its full-year sales guidance and now expects sales growth of approximately 3% on both a reported and constant currency basis and increases its full-year adjusted diluted EPS guidance and now expects adjusted diluted EPS of $2.93 to $3.01.



  • Amgen Inc. (AMGN) Reports Second-Quarter 2024 Financial Results; AMGN reports Non-GAAP EPS of $4.97, a 1% decrease from the previous year and $0.03 lower than expected. Revenue grew 20.2% to $8.39 billion, topping estimates $40 million. For the full year 2024 Management guides Total revenues in the range of $32.8 billion to $33.8 billion and a non-GAAP basis, EPS in the range of $19.10 to $20.10.


  • V.F. Corporation (VFC) Reports First Quarter Fiscal 2025 Results; VFC reports Non-GAAP EPS of -$0.33, compared a loss of ($0.15) per share, for the same period a year ago but beating analyst estimates by $0.04. Revenue of $1.91 billion beats analyst estimates by $60 million but decreased 8.2% versus the same quarter last year. Management reiterates guidance for free cash flow plus the proceeds from non-core physical asset sales of approximately $600 million.


  • NSPA awards RTX Corporation's (RTX) Raytheon a $478 million Patriot GEM-T missile contract; Raytheon, an RTX business, was awarded a $478 million contract from the NATO Support and Procurement Agency (NSPA) to supply additional GEM-T missiles to Germany. This contract supports the replenishment of Patriot missiles donated by Germany to Ukraine. Showing their strong support for Ukraine, Denmark, the Netherlands and Norway have agreed to participate in the financing of this procurement.


August 7, 2024


  • Sampo plc (SAMPO) Reports Second Results; SAMPO reports second quarter earnings per share of €0.62, 3% above last year's result and €0.12 more than expected. Profit before taxes grew 22% to €444 million, beating estimates by €86 million.


  • Koninklijke Ahold Delhaize N.V. (AMS:AD) Reports Second Results; AD reports Non-GAAP EPS of €0.65, up 4.5% versus prior year and €0.05 ahead of estimates. Revenue of €22.3 billion beats analyst estimates by €22 million and increased 0.9% versus the same quarter last year. Management reiterates its 2024 full-year outlook, including underlying operating margin of ≥4.0%, underlying EPS at around 2023 levels, free cash flow of around €2.3 billion;and net capital expenditures of around €2.2 billion.


  • Avista Corporation (AVA) Reports Financial Results for the Second Quarter of 2024; AVA reports second quarter GAAP EPS of $0.29, 26.1% above last year's result but $0.01 less than expected. Operating revenue for the quarter ended June 30 was $390.8 million, up from $368.6 million a year earlier, analysts expected $358.2 million. For 2024 Management continues to expect consolidated earnings in the range of $2.36 to $2.56 per diluted share.


  • UGI Corporation (UGI) Reports Fiscal 2024 Third Quarter Results; UGI reported fiscal Q3 adjusted diluted earnings late Wednesday of $0.06 per share, compared with a breakeven result a year earlier. Analysts expected a loss of $0.06. Revenue for the quarter ended June 30 was $1.38 billion, down from $1.66 billion a year earlier, while expected was $1.73 billion. Management reiterated its fiscal 2024 adjusted diluted EPS outlook of $2.70 to $3.00.


  • CVS Health Corporation (CVS) Reports Second Quarter 2024 Results; CVS reports secon quarter Non-GAAP EPS of $1.83, 17.2% below last year's result but $0.10 more than expected. Revenue of $91.2 billion misses analyst estimates by $230 million but increased 2.6% versus the same quarter last year. For full year Management revised Adjusted EPS guidance to a range of $6.40 to $6.65 from at least $7.00 and revised cash flow from operations guidance to approximately $9.0 billion from at least $10.5 billion.


  • Emerson Electric Co. (EMR) Reports Third Quarter 2024 Results; EMR reports Q3 Non-GAAP EPS of $1.43, up 11% versus prior year and $0.02 ahead of estimates. Revenue grew 11.2% to $4.38 billion, missing estimates by $60 million. For FY24 Management guides Net Sales Growth ~15%, Adjusted Earnings Per Share $5.45 - $5.50 and Free Cash Flow ~$2.8B.


  • Nutrien Ltd. (NTR) Reports Second Quarter 2024 Results; NTR reports Q2 Non-GAAP EPS of $2.34 down 8% versus prior year but $0.15 ahead of estimates. Revenue of $10.16 billion misses analyst estimates by $570 million and decreased 12.8% versus the same quarter last year.


  • Manulife Financial Corporation (MFC) Reports Second Quarter 2024 Results; MFC reports Q2 Core EPS of $0.91, beating analyst estimates by C$0.03 and increasing 9% year-over-year. APE sales rose 17% to C$1.91 billion in the quarter, compared with C$1.63 billion last year. Adjusted book value per common share edged up to C$33.96 from C$33.39 in the prior quarter and advanced from C$29.42 a year before.


August 8, 2024


  • Orion Corporation (ORION) Reports Second Quarter 2024 Results; ORION reports second quarter EPS of €0.37, up 42.6% versus prior year and €0.04 more than expected. Revenue grew 13.4% to €328.2 million, topping estimates €3.7 million. Management guides operating profit to be from €280 million to €310 million. Management upgraded Net sales estimates to be EUR 1,440 million to EUR 1,480 million and operating profit estimates to be EUR 350 million to EUR 380 million.


  • Gilead Sciences, Inc. (GILD) Announces Second Quarter 2024 Financial Results; GILD reports second quarter Non-GAAP EPS of $2.01, 50% above from last year and $0.41 more than expected. Revenue grew 5.5% to $6.95 billion, topping estimates by $210 million. Management now expects non-diluted EPS of $3.60-$3.90 (midpoint $3.75) compared to $3.45-$3.85 before and kept its full-year product sales projection unchanged at $27.1B-$27.5B.


  • Viatris Inc. (VTRS) Reports Second Quarter Financial Results for 2024; VTRS reports Non-GAAP EPS of $0.69, down 8% versus prior year but beating analyst estimates by €0.01. Revenue of $3.8 billion beats analyst estimates by $60 million but decreased 3.1% versus the same quarter last year. Management now expects 2024 revenue of $14.6 billion to $15.1 billion versus its previous forecast of $14.98 billion to $15.48 billion and also lowered its annual profit forecast to the range of $2.58 to $2.73 per share, down 7 cents at mid-point.



  • Medical Properties Trust, Inc. (MPW) Reports Second Quarter Results; MPW reports FFO of $0.23 in-line with estimates and decreasing 52.1% year-over-year. Revenue of $266.56 million beats analyst estimates by $1.91 million by decreasing 21.0% versus the same quarter last year. Management agreed to limit the cash component of its quarterly dividends to no more than $0.08 per share. That compares with its current quarterly dividend of $0.15.


  • Power Corporation of Canada (TSE:POW) Reports Second Quarter 2024 Financial Results; POW reports Q2 Non-GAAP EPS of C$1.17, beating analyst estimates by €0.04 but decreased 7.1% compared to the prior year. Adjusted net asset value per share was $50.48 at June 30, 2024, compared with C$53.53 at December 31, 2023. The Corporation's book value per share was C$33.53 at June 30, 2024, compared with C$32.49 at December 31, 2023.



August 9, 2024


  • Lockheed Martin Corporation (LMT) Aeronautics Co., Fort Worth, Texas, is awarded a $611,270,079 modification to a previously awarded cost-plus-fixed-fee, cost-plus-incentive-fee contract.


  • Emera Incorporated (TSE:EMA) Second Quarter Financial Results; EMA reported Non-GAAP EPS of C$0.53, lower than the same quarter last year, when the company reported EPS of C$0.60. The mean expectation of nine analysts for the quarter was for earnings of C$0.58. Revenue fell 8.5% to C$1.30 billion from a year ago, while analysts expected C$1.67 billion. EMA said it is on track to deploy $2.9 billion in capital in 2024, with $1.4 billion already invested in the first half of the year.






Articles that caught my attention:





Thanks for stopping by!


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