Sunday, November 10, 2024

Week in Review 45/24



 

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:



November 4, 2024


  • €52.50 – CVS Health Corporation (CVS)
  • €32.05 – Power Corporation of Canada (TSE:POW)


November 5, 2024


  • €112.09 – Telia Company (TELIA)


November 7, 2024


  • €614.63 – UPM-Kymmene Corporation (UPM)



Week 45: Total net dividends €811.27


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



My Portfolio's Transactions:



November 6, 2024


  • I purchased 130 shares of Aktia Bank plc (AKTIA) at €9.24 per share plus commission



That purchase 130 shares of AKTIA will increase €67.80 of my expected annual net dividend income. Following this acquisition, my portfolio now contains a total of 250 Aktia Bank shares at an average purchase price of €9.30 and yield on cost is 7.53%. After this acquisition, AKTIA ’s weight of my portfolio is about 0.32% and its share of future annual dividend income is approximately 0.56%.



Portfolio Holdings News:



November 4, 2024


  • Essential Utilities, Inc. (WTRG) Reports Financial Results for Q3 2024; WTRG reports Q3 GAAP EPS of $0.25, beating analyst estimates by $0.01 but decreased 16.7% year-over-year. Revenue grew 5.8% to $435.3 million, topping estimates $10.87 million. Management provided guidance for 2024 net income per diluted common share to be $1.96 to $2.00 and guides in 2025 net income per diluted common share will be between $2.07 to $2.11.


  • Eversource Energy (ES) Reports Third Quarter 2024 Results; ES reports third quarter Non-GAAP EPS of $1.13, 16.5% above from last year and $0.05 more than expected. Revenue of $3.06 billion misses analyst estimates by $20 million albeit increased 9.7% versus the same quarter last year. Management is updating Non-GAAP EPS to a range of $4.52 - $4.60 from the initial projection of $4.50 - $4.67.



  • Archer-Daniels-Midland Company (ADM) Reports Preliminary Third Quarter 2024 Results; ADM saying it expected adjusted earnings of $530M, or $1.09 per share, down versus the prior year period. ADM said it will amend financial statements for FY 2023 Form 10-K and Form 10-Q for this year's Q1 and Q2 after finding additional accounting problems, with restated filings to include corrections for newly identified errors related to intersegment sales. Management also lowered FY 2024 EPS guidance to $4.50-$5.00 from its previous outlook for $5.25-$6.25.



November 5, 2024


  • Emerson Electric Co. (EMR) Reports Fourth Quarter and Full Year 2024 Results; EMR reports Q4 Non-GAAP EPS of $1.48, 15% above last year's result and $0.01 more than expected. Revenue of $4.62 billion beats analyst estimates by $60 million and increased 13% versus the same quarter last year. For FY2025 Management guides Net Sales Growth to be 3.5% - 5.5%, Adjusted Earnings Per Share between $5.85 - $6.05 and Free Cash Flow from $3.2B to $3.3B.




  • Emerson Electric Co. (EMR) Proposes to Acquire Remaining Outstanding Shares of AspenTech; EMR has made a proposal to acquire all outstanding shares of common stock of AspenTech (NASDAQ: AZPN) not already owned by Emerson for $240 per share in cash. The proposed transaction follows Emerson’s 55% majority investment in AspenTech, which was completed in 2022. Emerson currently owns approximately 57% of AspenTech’s outstanding shares of common stock. Upon completion of the transaction, AspenTech would become a wholly owned subsidiary of Emerson.


  • Main Street Capital Corporation (MAIN) Increases Monthly Dividend; MAIN announce that its Board of Directors declared regular monthly cash dividends of $0.25 per share for each of January, February and March 2025. This represent a 2.0% increase from the regular monthly dividends declared for the fourth quarter of 2024 and a 4.2% increase from the regular monthly dividends paid in the first quarter of 2024. In addition to the regular monthly dividends for the first quarter of 2025, the Board of Directors declared a supplemental cash dividend of $0.30 per share payable in December 2024.


  • Fortis Inc. (FTS) Releases Third Quarter 2024 Results; FTS reports Non-GAAP EPS of C$0.85, beating analyst estimates by C$0.03 and increasing 1.2% year-over-year. Revenue for the quarter ended Sept. 30 was CA$2.77 billion, up from CA$2.72 billion a year earlier, while analysts expected CA$2.96 billion. FTS had capital expenditures of C$3.6 billion through September, and expects the figure to hit C$5.2 billion at the end of the year. FTS released a 2025-2029 capital plan of C$26 billion, representing 6.5% average annual rate base growth.


  • Pembina Pipeline Corporation (TSE:PPL) Reports Results for the Third Quarter 2024; PPL reports Q3 Non-GAAP GAAP EPS of C$0.60, missing analyst estimates by C$0.12 and increased 5.3% year-over-year. Revenue for the quarter ended Sept. 30 rose to CA$1.84 billion from CA$1.46 billion a year earlier. Management narrowed its 2024 adjusted EBITDA guidance range to C$4.225 billion to C$4.325 billion from C$4.2 billion to C$4.35 billion.


November 6, 2024


  • Sampo plc (SAMPO) Reports Third-Quarter Results 2024; SAMPO reports EPS of €0.64, beating analyst estimates by €0.03 but decreasing 12% year-over-year. Profit before taxes of €432 million beats analyst estimates by €5 million and increased 11% versus the same quarter last year. Underwriting result increased from €284 million in the comparison period to €374 million, analysts had forecast €359 million.


  • Aktia Bank Plc (AKTIA) Reports Third-Quarter Results 2024; AKTIA reports Q3 comparable earnings per share of €0.34, beating analyst estimates by €0.2 and 4% above last year's result. Total operating income grew 2% to €76.1 million beating estimates by €0.5 million. Operating profit rose 2% to €31.5 million, €2.2 million more than expected. CET1 ratio was 11.9%, compared with 11.5% at the end of the prior quarter.


  • Ahold Delhaize N.V. (AMS:AD) Releases Third Quarter 2024 Results; AD reports Q3 diluted underlying EPS of €0.62, 7.0% above last year's result. Revenue of €22 billion beats analyst estimates by €100 million and increased 0.2% versus the same quarter last year. AD announces a €1 billion share buyback program to start at the beginning of 2025. Management reiterates its 2024 full-year outlook, including underlying operating margin of ≥4.0%, underlying EPS at around 2023 levels and free cash flow of around €2.3 billion.


  • QUALCOMM Incorporated (QCOM) Announces Fourth Quarter and Fiscal 2024 Results; QCOM reports fourth quarter Non-GAAP EPS of $2.69, 33% above from last year and $0.12 more than expected. Revenue grew 18.1% to $10.24 billion, topping estimates by $310 million. For Q1 FY25 Management guides Revenue of $10.5B-$11.3B and Non-GAAP diluted EPS of $2.85-$3.05. Management has also approved a new $15.0 billion stock repurchase authorization.


  • Avista Corporation (AVA) Reports Financial Results for the Third Quarter of 2024; AVA reports third quarter NGAAP EPS of $0.23, 21.1% above from last year and $0.11 more than expected. Revenue grew 3.8% to $383.75 million, which was $5.54 million less than expected. Management is lowering its 2024 consolidated earnings guidance to a range of $2.26 to $2.46 per diluted share as a result of lower-than-expected valuations at our other businesses.


  • Pinnacle West Capital Corporation (PNW) Reports 2024 Third-Quarter Results; PNW reports third quarter GAAP EPS of $3.37, 3.7% below last year's result and $0.15 less than expected. Revenue of $1.77 billion beats analyst estimates by $70 million and increased 7.9% versus the same quarter last year. Management is adjusting its 2024 consolidated earnings guidance upward to a range of $5.00 to $5.20 per diluted share and estimates its 2025 consolidated earnings will be within a range of $4.40 to $4.60 per diluted share.



  • Gilead Sciences, Inc. (GILD) Announces Third Quarter 2024 Financial Results; GILD reports Non-GAAP EPS of $2.02, down 11.8% versus prior year but beating analyst estimates by $0.47. Revenue of $7.55 billion beats analyst estimates by $550 million and increased 7.1% versus the same quarter last year. For the full-year 2024 Management expects sales of $27,8B -$28,1B and Non-GAAP diluted EPS of $4.25 - $4.45.




  • Nutrien Ltd. (NTR) Reports Third Quarter 2024 Results; NTR reports third quarter Non-GAAP EPS of $0.39 up 11% versus prior year but $0.06 below of estimates. Revenue of $5.35 billion beats analyst estimates by $120 million but decreased 5.0% versus the same quarter last year.


  • Manulife Financial Corporation (MFC) Reports Third Quarter 2024 Result; MFC reports Q3 Core EPS of C$1.00, beating analyst estimates by C$0.06 and increasing 7% year-over-year. APE sales rose 40% to C$2.35 billion in the quarter, compared with C$1.66 billion last year. Adjusted book value per common share advanced to C$34.97 at the end of Q3 from C$33.96 in Q2 and C$30.67 in Q3 2023. Global WAM net inflows were C$5.2B, up from C$0.1B in the previous quarter and from net outflows of C$0.8B in Q3 of last year.


November 7, 2024


  • Duke Energy Corporation (DUK) Reports Third-Quarter 2024 Financial Results; DUK reports Non-GAAP EPS of $1.62, a 16.5% decrease from the previous year and $0.11 less than expected. Revenue grew 2% to $8.15 billion, topping estimates $50 million. Management reaffirmed its full-year adjusted earnings guidance of $5.85-$6.10/share, but said it is trending toward the lower half of the range, with long-term adjusted EPS growth rate of 5%-7% through 2028 off the 2024 midpoint of $5.98/share.


  • Viatris Inc. (VTRS) Reports Third Quarter Financial Results for 2024; VTRS reports Non-GAAP EPS of $0.75, down 5% versus prior year but beating analyst estimates by $0.07. Revenue of $3.8 billion beats analyst estimates by $40 million but decreased 3.3% versus the same quarter last year. Management reiterated the full-year revenue outlook at $14.6B-$15 and outlook for adjusted EPS at $2.56 - $2.71.


  • Main Street Capital Corporation (MAIN) Announces Third Quarter 2024 Results; MAIN reports Q3 distributable net investment income of $1.06, 2% above last year's result and $0.05 more than expected. Total investment income of $136.82 million in line with estimates and increased 11% versus the same quarter last year. Net asset value per share was $30.57 at Sept. 30, 2024, up from $29.20 at Dec. 31, 2023.




  • TC Energy Corporation (TRP) Reports Third Quarter 2024 Operating and Financial Results; TRP reported Q3 comparable earnings of C$1.03 per share, up from CA$1.00 a year earlier, while estimates was C$0.95. Revenue for the quarter ended Sept. 30 was CA$4.08 billion, compared with CA$3.94 billion a year earlier, beating analyst estimate of C$3.97 billion. After completed the spin off of its liquids pipeline business, TRP said its board declared a quarterly dividend of $0.8225 per common share for Q4, down from $0.96 in Q3.



November 8, 2024



  • Baxter International Inc. (BAX) Reports Third-Quarter 2024 Results; BAX reported Q3 adjusted earnings of $0.80 per diluted share, down from $0.82 a year earlier, while analysts expected $0.78. Net sales rose to $2.7 billion from $2.6 billion a year earlier. For 2024, Management lowered its adjusted EPS guidance to $2.90 to $2.94 per diluted share on total sales growth of 1% to 2%, down from its previous projection of adjusted EPS $2.93 to $3.01 per diluted share on sales growth of 3%.


  • Flowers Foods, Inc. (FLO) Reports Third Quarter 2024 Results; FLO reports Q3 Non-GAAP EPS of $0.33, 13.8% above from last year and $0.04 more than expected. Revenue of $1.19 billion misses analyst estimates by $10 million and decreased 0.8% versus the same quarter last year. Management narrowed its fiscal 2024 guidance and said it now expects adjusted EPS of $1.24 to $1.28, from the previous range of $1.20 to $1.30.




  • TELUS Corporation (TSE:T) Increases Quarterly Dividend; T's Board of Directors declared a quarterly dividend of C$0.4023 per share payable on January 2, 2025 to holders of record at December 11, 2024. This quarterly dividend reflects an increase of 7.0 % from the $0.3761 per share dividend declared one year earlier.




Articles that caught my attention:





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