Sunday, August 3, 2025

Week in Review 31/25

 



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 28, 2025


  • €63.27 – Canadian Imperial Bank of Commerce (TSE:CM)


July 30, 2025


  • €85.11 – The Bank of Nova Scotia (TSE:BNS)


July 31, 2025


  • €37.64 – Edison International (EIX)
  • €12.32 – LTC Properties, Inc. (LTC)
  • €98.47 – The Toronto-Dominion Bank (TD)
  • €67.76 – TC Energy Corporation (TRP)


August 1, 2025


€62.46 – AT&T Inc. (T)

€108.92 – Verizon Communications Inc. (VZ)

€27.79 – General Mills, Inc. (GIS)

€47.84 – Bristol-Myers Squibb Company (BMY)



Week 31: Total net dividends €611.58



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



Portfolio Holdings News:



July 28, 2025


  • Bristol-Myers Squibb Company (BMY) and Bain Capital Create New Company; BMY Bain Capital today announced the creation of a new independent biopharmaceutical company focused on developing new therapies for autoimmune diseases that address significant unmet needs of patients. The newly formed company launches with five immunology assets in-licensed from BMS and a $300 million financing commitment that was led by Bain Capital. BMY will maintain nearly a 20% equity stake in the new company and will receive royalties and milestone payments based on the success of the assets.


  • Lockheed Martin (NYSE:LMT) has been awarded a $2.06B modification to a previously awarded U.S. Missile Defence Agency contract for the production of Terminal High Altitude Area Defense Interceptors to support the U.S. Government. The total value of this contract is increased from $8.35B to $10.42B.


July 29, 2025



  • The Procter & Gamble Company (PG) Announces Fourth Quarter and Fiscal Year 2025 Results; PG reported Q4 non-GAAP EPS of $1.48, a 6% increase year-over-year and $0.06 above analyst expectations. Revenue rose 1.8% to $20.89 billion, coming in $40 million ahead of estimates. For fiscal year 2026, management expects all-in sales growth between 1% and 5% compared to the prior year. Core EPS growth is projected to range from flat to up 4% versus fiscal 2025 core EPS of $6.83. The company also anticipates adjusted free cash flow productivity of 85% to 90%, plans to pay approximately $10 billion in dividends, and intends to repurchase around $5 billion of common stock.


  • Starbucks Corporation (SBUX) Reports Q3 Fiscal Year 2025 Results; SBUX reported third-quarter non-GAAP EPS of $0.50, reflecting a 46% year-over-year decline and missing analyst expectations by $0.15. Revenue rose 4.0% to $9.46 billion, beating estimates by $150 million. During the quarter, the company opened 308 net new stores, bringing its global total to 41,097 locations. Of these, 53% are company-operated and 47% are licensed.


  • United Parcel Service, Inc. (UPS) Releases 2Q 2025 Earnings; UPS reported Q2 non-GAAP EPS of $1.55, down 13.4% year-over-year and $0.02 below analyst expectations. Revenue came in at $21.2 billion, exceeding estimates by $350 million, despite a 2.8% decline from the same quarter last year. Due to ongoing macroeconomic uncertainty, management did not issue revenue or operating profit guidance. However, the company confirmed capital expenditures of approximately $3.5 billion and noted that planned share repurchases totaling $1.0 billion have been completed.


  • Union Pacific Corporation (UNP) and Norfolk Southern to Create America’s First Transcontinental Railroad; UPS and Norfolk Southern Corporation (NYSE: NSC) today announced an agreement to create America’s first transcontinental railroad. Under the terms of the agreement, UNP will acquire Norfolk Southern in a stock and cash transaction, implying a value for NSC of $320 per share based on UNP’s unaffected closing stock price on July 16, 2025, and representing a 25% premium to NSC’s 30-trading day volume weighted average price on July 16, 2025. The value per share implies an enterprise value of $85 billion for Norfolk Southern, resulting in the creation of a combined enterprise of over $250 billion.


  • Visa Inc. (V) Reports Fiscal Third Quarter 2025 Financial Results; V reported third-quarter non-GAAP EPS of $2.98, up 23% year-over-year and $0.13 above analyst expectations. Revenue grew 14.6% to $10.2 billion, beating estimates by $350 million. Management maintained its outlook for the fourth quarter, expecting adjusted net revenue growth in the high single digits to low double digits. Adjusted EPS growth is projected to be in the high single digits.


  • Unum Group (UNM) Reports Second Quarter 2025 Results; UNM reported Q2 non-GAAP EPS of $2.07, a 4.2% decline year-over-year and $0.14 below analyst expectations. Revenue came in at $3.36 billion, beating estimates by $30 million and rising 4.0% compared to the same quarter last year. Book value per common share stood at $65.76, reflecting an 18.2% increase over the prior-year quarter. For full-year 2025, management revised its outlook for after-tax adjusted operating income per share to approximately $8.50, up slightly from $8.44 in 2024.


  • Ares Capital Corporation (ARCC) Announces June 30, 2025 Financial Results; ARCC reported second-quarter non-GAAP EPS of $0.50, representing an 18.0% decline year-over-year and coming in $0.01 below analyst expectations. Total investment income was $745 million, down 1.3% from the same quarter last year and missing estimates by $5.39 million. As of July 24, 2025, the company reported an investment backlog of approximately $2.6 billion.


  • W. P. Carey Inc. (WPC) Announces Second Quarter 2025 Financial Results; WPC reported Q2 adjusted funds from operations (AFFO) of $1.28 per share, beating analyst expectations by $0.07 and representing a 9.4% year-over-year increase. Revenue rose 10.5% to $430.78 million, exceeding estimates by $14.52 million. Management raised its full-year 2025 AFFO guidance to a range of $4.87 to $4.95 per diluted share, based on expected full-year investment volume of $1.4 billion to $1.8 billion.


July 30, 2025



  • QUALCOMM Incorporated (QCOM) Announces Third Quarter Fiscal 2025 Results; QCOM reported third-quarter non-GAAP EPS of $2.77, beating expectations by $0.06 and marking a 19% year-over-year increase. Revenue rose 10.3% to $10.36 billion, in line with analyst estimates. Looking ahead, management expects Q4 revenue in the range of $10.3 billion to $11.1 billion and non-GAAP EPS between $2.75 and $2.95.



  • WEC Energy Group, Inc. (WEC) Reports Second-Quarter Results; WEC reported Q2 GAAP EPS of $0.76, representing a 13.4% year-over-year increase and beating analyst expectations by $0.05. Revenue for the quarter came in at $2.0 billion, exceeding estimates by $250 million and rising 13.0% compared to the same period last year. Management reaffirmed its 2025 earnings guidance of $5.17 to $5.27 per share, assuming normal weather for the rest of the year and also reaffirming our long-term EPS CAGR of 6.5% to 7%.


  • The Kraft Heinz Company (KHC) Reports Second Quarter 2025 Results; KHC reported second-quarter non-GAAP EPS of $0.69, an 11.5% decline year-over-year but $0.05 above analyst expectations. Revenue fell 2.3% to $6.35 billion, still beating estimates by $80 million. For fiscal year 2025, management now expects organic net sales to decline by 1.5% to 3.5% compared to the prior year. Adjusted EPS is projected to range between $2.51 and $2.67.


  • Altria Group, Inc. (MO) Reports 2025 Second-Quarter and First-Half Results; MO reported Q2 adjusted EPS of $1.44, an 8.3% increase year-over-year and $0.06 above analyst expectations. Revenue declined by 1.8% to $6.1 billion but still exceeded estimates by $910 million. Management raised the lower end of its full-year 2025 guidance and now expects adjusted diluted EPS to range between $5.35 and $5.45. This represents a projected growth rate of 3.0% to 5.0% from the 2024 base of $5.19.


  • The Hershey Company (HSY) Reports Second-Quarter 2025 Financial Results; HSY reported second-quarter non-GAAP EPS of $1.21, beating analyst estimates by $0.21 despite a 4.1% decline compared to the same quarter last year. Revenue came in at $2.61 billion, marking a 26.1% year-over-year increase and surpassing expectations by $90 million. Looking ahead to full-year 2025, management expects net sales to grow by at least 2%. However, adjusted earnings per share are projected to decline by 36% to 38%, reflecting margin pressures and anticipated cost impacts.


  • Smurfit Westrock Plc (SW) Reports Second Quarter 2025 Results; SW reported second-quarter GAAP EPS of -$0.05, down from $0.51 in the same quarter last year and missing analyst expectations by $0.64. Despite the earnings miss, revenue surged 167% year-over-year to $7.94 billion, beating estimates by $40 million. The company reported adjusted EBITDA of $1.213 billion, with an adjusted EBITDA margin of 15.3%.


  • Illinois Tool Works Inc. (ITW) Reports Second Quarter 2025 Results; ITW reported Q2 GAAP EPS of $2.58, a 2% increase year-over-year and $0.02 above analyst expectations. Revenue grew 1.7% to $4.1 billion, beating estimates by $80 million. Management raised its full-year 2025 GAAP EPS guidance by $0.10, narrowing the expected range to $10.35–$10.55 per share. Free cash flow is projected to exceed 100% of net income, and the company plans to repurchase approximately $1.5 billion of its own shares.


  • Prudential Financial, Inc. (PRU) Announces Second Quarter 2025 Results; PRU reported second-quarter non-GAAP earnings per share of $3.58, reflecting a 9.2% increase from the same period last year and exceeding analyst expectations by $0.36. Book value per common share rose to $85.98, up from $77.51 in the year-ago quarter. Assets under management also increased, reaching $1.580 trillion compared to $1.482 trillion a year earlier.


July 31, 2025


  • Unilever PLC (AMS:UNA) Reports 2025 First Half Results; UNA reported first-half 2025 turnover of €30.1 billion, a 3.2% year-over-year decline, in line with estimates. The decline reflected a (4.0%) impact from currency and (2.5%) from net disposals, partially offset by underlying sales growth of 3.4%, driven by 1.5% volume growth and 1.9% price increases. Adjusted EPS came in at €1.59, up from €1.62 last year, and 5.3% above analyst expectations of €1.51. Management reaffirmed its full-year guidance, expecting underlying sales growth of 3% to 5% and Improved operating margins, targeting at least 18.5% in H2, up from 18.4% in 2024.


  • Essential Utilities, Inc. (WTRG) Reports Second Quarter 2025 Results; WTRG reported Q2 GAAP EPS of $0.38, a 35.7% year-over-year increase, and $0.08 above analyst expectations. Revenue climbed 18.5% to $514.9 million, beating estimates by $47.7 million. For full-year 2025, management now expects GAAP EPS to exceed the prior guidance range of $2.07–$2.11, citing non-recurring benefits. Looking ahead, WTRG anticipates long-term EPS growth at a 5–7% compound annual rate, based on adjusted 2024 EPS of $1.97 (Non-GAAP), through 2027.


  • Eversource Energy (ES) Reports Second Quarter 2025 Results; ES reported second-quarter GAAP EPS of $0.96, a slight increase from $0.95 in Q2 2024 and in line with analyst expectations. Revenue grew 12.3% year-over-year to $2.84 billion, though it missed estimates by $90 million. Management reaffirmed its full-year 2025 earnings guidance of $4.67 to $4.82 per share, and maintained its compound annual EPS growth target of 5% to 7%, based on a 2024 EPS baseline of $4.57.


  • Edison International (EIX) Reports Second-Quarter 2025 Results; EIX reported second-quarter Non-GAAP EPS of $0.97, reflecting a 21.1% year-over-year decline, but still beating analyst expectations by $0.09. Revenue increased 4.6% year-over-year to $4.54 billion, surpassing estimates by $340 million. Management reaffirmed its full-year 2025 EPS guidance in the range of $5.94 to $6.34, and maintained its long-term core EPS growth outlook of 5% to 7% annually from 2025 through 2028.



  • AbbVie Inc. (ABBV) Reports Second-Quarter 2025 Financial Results; ABBV reported second-quarter non-GAAP EPS of $2.97, representing a 12.1% year-over-year increase and surpassing analyst expectations by $0.06. Revenue grew 6.6% to $15.42 billion, exceeding estimates by $390 million. Management raised its full-year 2025 adjusted diluted EPS guidance from a prior range of $11.67–$11.87 to a new range of $11.88–$12.08, which includes an unfavorable impact of $0.55 per share related to acquired IPR&D and milestone expenses incurred year-to-date through Q2 2025.


  • Bristol-Myers Squibb Company (BMY) Reports Second Quarter Financial Results for 2025; BMY reported second-quarter non-GAAP EPS of $1.46, a 29% decline year over year, but still $0.36 ahead of analyst expectations. Revenue came in at $12.27 billion, representing a modest 0.6% year-over-year increase and surpassing estimates by $890 million. Management raised its full-year 2025 revenue guidance to a range of approximately $46.5 billion to $47.5 billion and updated its non-GAAP EPS outlook to a range of $6.35 to $6.65. This EPS guidance includes a $(0.57) per share headwind related to the acquired IPR&D charge from the BioNTech transaction.


  • CVS Health Corporation (CVS) Reports Second Quarter 2025 Results; CVS reported second-quarter non-GAAP EPS of $1.81, down 1.1% year over year but surpassing analyst expectations by $0.35. Revenue totaled $98.92 billion, an 8.5% increase from the same period last year and $4.33 billion above estimates. Management raised its full-year 2025 adjusted EPS guidance to a range of $6.30 to $6.40, up from the previous outlook of $6.00 to $6.20. Additionally, the forecast for cash flow from operations was increased to approximately $7.5 billion, up from the prior estimate of $7.0 billion.


  • Air Products and Chemicals, Inc. (APD) Reports Fiscal 2025 Third Quarter Results; APD reported Q3 non-GAAP earnings per share of $3.09 for the quarter, down 3% year over year but $0.10 above analyst expectations. Revenue increased by 1.0% to $3.02 billion, exceeding estimates by $30 million. Management revised its full-year fiscal 2025 adjusted EPS guidance to a range of $11.90 to $12.10, and issued fourth-quarter adjusted EPS guidance of $3.27 to $3.47.


  • Main Street Capital Corporation (MAIN) Announces New Portfolio Investment; MAIN announced that it recently completed a new portfolio investment totaling $10.0 million to help facilitate the leveraged buyout of a leading third-party tax collection service provider. MAIN's investment of $10.0 million included a combination of first lien, senior secured debt and a direct minority equity investment.


  • Omega Healthcare Investors, Inc. (OHI) Reports Second Quarter 2025 Results; OHI reported second-quarter Funds From Operations (FFO) of $0.77 per share, exceeding analyst expectations by $0.03 and reflecting an 8.5% year-over-year increase. Revenue rose 11.8% year-over-year to $282.51 million, surpassing estimates by $39.22 million. Management raised its full-year 2025 adjusted FFO (AFFO) guidance to a range of $3.04 to $3.07 per share, up from the previous range of $2.95 to $3.01.


  • TC Energy Corporation (TRP) Reports Second Quarter 2025 Operating and Financial Results; TRP reported second-quarter non-GAAP EPS of C$0.82, up 3.8% year over year and C$0.04 ahead of analyst expectations. Quarterly revenue rose 12% to C$3.74 billion, exceeding estimates by C$210 million. Management raised its guidance for comparable EBITDA to a range of C$10.8 to C$11.0 billion, up from the previous outlook of C$10.7 to C$10.9 billion. However, the outlook for comparable earnings per common share remains unchanged from the 2024 Annual Report and is expected to be lower than in 2024.



August 1, 2025


  • Dominion Energy, Inc. (D) Announces Second-Quarter Results; D reported Q2 Non-GAAP EPS of $0.75, a 15.4% increase year over year and $0.07 above analyst expectations. Revenue for the quarter was $3.81 billion, exceeding estimates by $160 million and representing a 9.2% increase compared to the same period last year. Management reaffirmed its full-year 2025 operating earnings guidance range of $3.28 to $3.52 per share, along with all other financial guidance previously provided during the fourth-quarter 2024 earnings call.


  • Brookfield Renewable (BEP, BEPC) Announces Second Quarter Results; BEP reported second-quarter FFO of $0.56, in line with analyst expectations and marking a 9.8% year-over-year increase. Revenue rose 14.2% to $1.69 billion, surpassing estimates by $40 million. Management reiterated their confidence in achieving their target of 10%+ FFO per unit annual growth for 2025.


  • Chevron Corporation (CVX) Reports Second Quarter 2025 Results; CVX reported second-quarter non-GAAP earnings per share of $1.77, representing a 30.6% decrease year over year but exceeding analyst expectations by $0.02. Revenue declined 12.4% to $44.82 billion, falling short of estimates by $230 million. Management increased its 2026 additional free cash flow guidance to $12.5 billion.


  • Kimberly-Clark Corporation (KMB) Announces Second Quarter 2025 Results; KMB reported Q2 Non-GAAP EPS of $1.63, reflecting a 4.1% year-over-year decline and coming in $0.04 below analyst expectations. Revenue decreased 1.7% to $4.16 billion, missing estimates by $470 million. Looking ahead, management expects 2025 adjusted operating profit to grow at a low-to-mid single-digit rate on a constant-currency basis compared to the prior year.



  • T. Rowe Price Group, Inc. (TROW) Reports Second Quarter 2025 Results; TROW reported Q2 Non-GAAP EPS of $2.24, beating analyst estimates by $0.11, though down 0.9% year over year. Revenue declined 0.6% to $1.72 billion, missing expectations by $30 million. Assets under management (AUM) rose by $110.5 billion to $1.68 trillion as of June 30, 2025.


  • Magna International Inc. (MGA) Announces Second Quarter 2025 Results; MGA reported Q2 Non-GAAP EPS of $1.44, a 6.7% decline year-over-year, but beat analyst expectations by $0.29. Revenue totaled $10.63 billion, down 3.0% from the prior year, yet $250 million above estimates. Management revised its 2025 full-year sales outlook upward to a range of $40.4 to $42.0 billion, compared to the previous range of $40.0 to $41.6 billion.


  • LyondellBasell Industries N.V. (LYB) Reports Second Quarter 2025 Earnings; LYB reported Q2 2025 Non-GAAP EPS of $0.62, marking an 88% year-over-year decline and missing analyst expectations by $0.16. Revenue fell 12% to $7.66 billion, but still beat estimates of $7.53 billion. Looking ahead, management expects Q3 to benefit from improving North American integrated polyethylene margins, supported by solid domestic demand and stronger export volumes.


  • TELUS Corporation (TSE:T) Reports Financial Results for Second Quarter 2025; T reported adjusted earnings of C$0.22 per share for the quarter ended June 30, down from C$0.25 in the same period last year and slightly below the C$0.23 analyst consensus. Revenue rose 1.1% year-over-year to C$5.03 billion, matching expectations. Management reaffirmed its 2025 financial targets, including revenue growth of 2% to 4%, adjusted EBITDA growth of 3% to 5%, consolidated capital expenditures (excluding real estate) of approximately C$2.5 billion, and free cash flow of around C$2.15 billion.


  • TELUS Corporation (TSE:T) Announces Partnership With La Caisse; T announced that it has entered into a definitive agreement with La Caisse, a global investment group and Canada’s second-largest pension fund, who will acquire a 49.9% equity interest in each of Terrion LP and its general partner, Terrion GP Inc., for approximately C$1.26 billion.


  • Enbridge Inc. (ENB) Reports Record Second Quarter Results; ENB reported second-quarter Non-GAAP EPS of C$0.65, representing a 12.1% year-over-year increase and beating analyst expectations by C$0.08. Revenue surged 31.2% to C$14.88 billion, well above the C$11.23 billion expected by analysts. Distributable cash flow (DCF) totaled C$2.9 billion, unchanged from the same quarter last year. Management reaffirmed its 2025 financial guidance, projecting adjusted EBITDA between C$19.4 billion and C$20.0 billion, and DCF per share between C$5.50 and C$5.90.


  • Fortis Inc. (FTS) Releases Second Quarter 2025 Results; FTS reported Q2 GAAP EPS of C$0.76, a 13.4% year-over-year increase, and C$0.06 above analyst expectations. Revenue rose 5.4% to C$2.82 billion, though it came in slightly below the C$2.87 billion consensus estimate. Fortis reaffirmed its C$26.0 billion five-year capital plan, which aims to grow its midyear rate base from C$39.0 billion in 2024 to C$53.0 billion by 2029, representing a 6.5% compound annual growth rate. This rate base expansion is expected to support earnings growth and sustain dividend growth guidance of 4–6% annually through 2029.



Articles that caught my attention:





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