Week in Review 30/22

 

 

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 27, 2022

 

€ 54.14 – Cisco Systems, Inc. (CSCO)

 

July 28, 2022

 

€ 96.99 – Scotiabank (BNS)

 

July 29, 2022

 

€ 13.81 – LTC Properties, Inc. (LTC)

€ 56.69 – Canadian Imperial Bank of Commerce (CM)

 

Week 30: Total net dividends € 221.63.

 

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

 

 

My Portfolio’s Transactions:

 

 

July 28, 2022

 

I sold 500 shares of Fortum Corporation at € 10.62 per share plus commission and my intention is to sell the remaining Fortum shares in the near future.

 

July 29, 2022

 

I opened a new position and purchased 40 shares of LyondellBasell Industries N.V. (LYB) at $ 89.50 per share plus commission. At today’s exchange rate that purchase 40 shares of LYB will increase € 139.07 of my expected annual net dividend income. I will update the portfolio holdings during the next week.

 

 

Portfolio Holdings News:

 

 

July 25, 2022

 

Intel Corporation (INTC) and MediaTek Form Foundry Partnership; INTC and MediaTek today announced a strategic partnership to manufacture chips using Intel Foundry Services’ (IFS) advanced process technologies. The agreement is designed to help MediaTek build a more balanced, resilient supply chain through the addition of a new foundry partner with significant capacity in the United States and Europe.

 

Air Products and Chemicals, Inc. (APD) to spend $4B more on clean energy transition, lifting total to $15B; APD announced it plans to spend or commit to an additional $4B in its transition to clean energy, raising the company’s total commitment to “first-mover projects” to $15B through 2027.

 

 

July 26, 2022

 

Kesko Corporation (KESKO) Reports Q2 2022 Results; KESKO reports second quarter EPS of € 0.45, a 9.8% increase year-over-year and € 0.03 ahead of estimates. Revenue grew 3.7% to € 3108.5 million, missing estimates by € 5.9 million. For FY2022 management expects comparable operating profit to be in the range of € 750-840 million from prior guidance of € 730-840 million. In 2021, the operating profit was € 775.5 million.

 

Unilever PLC (UL) Reports First Half Year Results; UL reports Non-GAAP EPS of €1.34, a 1% increase year-over-year. Revenue grew 14.8% to € 29.6 billion. Management was guidance for underlying sales growth in 2022 at the top end of a range of 4.5% to 6.5%. UL now expect underlying sales growth to be above that range, driven by price with some further pressure on volume.

 

Texas Instruments Incorporated (TXN) Reports Second Quarter 2022 Financial Results; TXN reports second quarter GAAP EPS of $2.45, a 19.5% above from last year and $0.33 ahead of estimates. Revenue grew 13.8% to $5.21 billion, topping estimates $560 million. TXN’s third quarter outlook is for revenue in the range of $4.90 billion to $5.30 billion and earnings per share between $2.23 and $2.51.

 

Kimberly-Clark Corporation (KMB) Announces Second Quarter 2022 Results; KMB reports second quarter Non-GAAP EPS of $1.34, a 9% decline from last year but $0.03 ahead of estimates. Revenue grew 7% to $5.1 billion, topping estimates $110 million. Management is now targeting full-year 2022 organic sales growth of 5 to 7 percent compared to prior outlook of 4 to 6 percent and maintains adjusted earnings per share range of $5.60 to $6.00.

 

The Coca-Cola Company (KO) Reports Second Quarter 2022 Results; KO reports Non-GAAP EPS of $0.70, beating analyst estimates by $0.03 and increased 4% year-over-year. Revenue of $11.3 billion beats analyst estimates by $730 million and increased 11.9% versus the same quarter last year. Management expects 2022 comparable currency neutral EPS (non-GAAP) growth of 14% to 15% and comparable EPS (non-GAAP) growth of 5% to 6%, versus $2.32 in 2021.

 

McDonald’s Corporation (MCD) Reports Second Quarter 2022 Results; MCD reports second quarter Non-GAAP EPS of $2.55, a 8% above from last year and $0.08 ahead of estimates. Revenue of $5.72 billion misses analyst estimates by $100 million and decreased 2.9% versus the same quarter last year.

 

Raytheon Technologies Corporation (RTX) Reports Q2 2022 Results; RTX reports second quarter Non-GAAP EPS of $1.16, 13% above last year’s result and $0.05 higher than expected. Revenue improved 2.7% to $16.31 billion, $300 million less than expected. For FY2022 management confirms adjusted EPS to $4.60 – $4.80, sales of $67.75 – $68.75 billion and share repurchase of at least $2.5B.

 

United Parcel Service, Inc. (UPS) Releases 2Q 2022 Earnings; UPS reports second quarter Non-GAAP EPS of $3.29, 7.5% above last year’s result and $0.13 higher than expected. Revenue improved 5.7% to $24.8 billion, $210 million higher than expected. For 2022, Management reaffirms its full-year financial targets and raising the amount of targeted share repurchases for 2022, taking the target to $3 billion for the year.

 

Visa Inc. (V) Reports Third Quarter 2022 Financial Results; V reports Non-GAAP EPS of $1.98, beating analyst estimates by $0.23 and increased 33% year-over-year. Revenue of $7.3 billion beats analyst estimates by $230 million and increased 19.1% versus the same quarter last year. Total cross-border volume on a constant-dollar basis increased 40% in the quarter. Total processed transactions, which represent transactions processed by Visa, for the three months ended June 30, 2022, were 49.3 billion, a 16% increase over the prior year.

 

Archer-Daniels-Midland Company (ADM) Reports Second Quarter Earnings; ADM reports Non-GAAP EPS of $2.15, beating analyst estimates by $0.43 and increased 61.7% year-over-year. Revenue of $27.28 billion beats analyst estimates by $2.41 billion and increased 19% versus the same quarter last year.

 

Canadian National Railway Company (TSE:CNR) Reports Second Quarter Results; CNR reports Non-GAAP EPS of C$1.93, beating analyst estimates by C$0.17 and increased 29.5% year-over-year. Revenue grew 20.6% to C$4.34 billion, topping estimates by C$250 million. Management confirms its 2022 outlook targeting to deliver approximately 15-20% adjusted diluted EPS growth in 2022 and maintains its free cash flow target in the range of C$3.7 billion – C$4.0 billion in 2022.

 

July 27, 2022

 

QUALCOMM Incorporated (QCOM) Announces Third Quarter Fiscal 2022 Results; QCOM reports Non-GAAP EPS of $2.96, beating analyst estimates by $0.09 and increased 54% year-over-year. Revenue of $10.9 billion beats analyst estimates by $50 million by increasing 37.3% versus the same quarter last year. QCOM sees Q4 non-GAAP EPS of $3.00-$3.30 and revenue of $11B-$11.8B

 

QUALCOMM Incorporated (QCOM) and Samsung Extend and Expand Broad Strategic Partnership; QCOM announced a 7-year extension of its patent licensing deal with Samsung Electronics (OTCPK:SSNNF) for premium consumer experiences for Samsung Galaxy devices.

 

The Kraft Heinz Company (KHC) Reports Second Quarter 2022 Results; KHC reports Non-GAAP EPS of $0.70, 10.3% lower than the prior year but $0.02 higher than expected. Revenue of $6.55 billion beats analyst estimates by $190 million albeit decreased 1.1% versus the same quarter last year. Management continues to expect 2022 Adjusted EBITDA to be in the range of $5.8 billion to $6.0 billion, with a 45 percent to 55 percent third quarter to fourth quarter split.

 

Bristol-Myers Squibb Company (BMY) Reports Second Quarter Financial Results for 2022; BMY reports Non-GAAP EPS of $1.93, beating analyst estimates by $0.12 and increased 18% year-over-year. Revenue of $11.9 billion beats analyst estimates by $400 million and increased 1.7% versus the same quarter last year. For FY2022 management guides adjusted EPS of $7.44-$7.74 from prior outlook of $7.65-$7.95 and total net sales of $46B from prior outlook of $47B.

 

Best Buy Co., Inc. (BBY) Provides Update on Second Quarter Performance and Fiscal 2023 Outlook; BBY expects Q2 FY23 comparable sales1 to decline approximately 13%, with revenue approximately 7.5% higher than pre-pandemic Q2 FY20. This compares to 19.6% comparable sales growth in Q2 FY22. The company expects its Q2 non-GAAP operating income rate2 to be in a range around 3.7%. Additionally, the company expects its Q2 ending inventory balance to be approximately flat to the same period last year.

 

WestRock Company (WRK) to Acquire Remaining Interest in Grupo Gondi; WRK announced that it has entered into an agreement to acquire the remaining interest in Grupo Gondi for $970 million, plus the assumption of debt, representing an estimated implied enterprise value of $1.763 billion. Currently, WestRock owns 32.3% of Grupo Gondi, and this transaction will secure the remaining 67.7%.

 

Lockheed Martin Corporation (LMT) receiveda not-to-exceed $213.3M cost-plus-incentive-fee undefinitized contract.

 

General Dynamics Corporation (GD) Reports Second-Quarter 2022 Financial Results; GD reports GAAP EPS of $2.75, a 5.4% increase from the prior year and $0.03 above estimates. Revenue of $9.19 billion misses analyst estimates by $230 million by decreasing 0.3% versus the same quarter last year.

 

Lazard Ltd (LAZ) Increases Quarterly Dividend; LAZ announced that its Board of Directors increase the quarterly dividend on its outstanding Class A common stock by 6% to $0.50 per share. The dividend is payable on August 19, 2022, to stockholders of record on August 8, 2022.

 

 

July 28, 2022

 

Neste Corporation (NESTE) Reports Half-Year Report January-June 2022; NESTE reports second quarter comparable EPS of € 0.96, beating analyst estimates by € 0.18 and increased 210% year-over-year. Revenue of € 7,039 million beats analyst estimates by € 847 million by increasing 133% versus the same quarter last year.

 

Intel Corporation (INTC) Reports Second-Quarter 2022 Financial Results; INTC reports Non-GAAP EPS of $0.29, missing analyst estimates by $0.41 and decreasing 79% year-over-year. Revenue of $15.3 billion missed analyst estimates by $2.63 billion and decreases 17.3% versus the same quarter last year. For Q3, revenue is expected to be in the range of $15B to $16B and EPS of $0.35.

 

Edison International (EIX) Reports Second Quarter 2022 Results; EIX reports second quarter Non-GAAP EPS of $0.94, the same as previous year and $0.04 ahead of estimates. Revenue increased 20.8% to $4.01 billion, which was $440 million more than expected. Management reaffirms 2022 EPS guidance of $4.40–4.70 and also reiterates long-term EPS growth rate target of 5–7%.

 

Pfizer Inc. (PFE) Reports Second-Quarter 2022 Results; PFE reports Non-GAAP EPS of $2.04, a 92% increase from the previous year and $0.26 higher than expected. Revenue increased 45.8% to $27.7 billion, $1.5 billion more than expected. Management raises Full-Year 2022 financial guidance for revenues and adjusted diluted EPS by $2 billion and $0.24.

 

Baxter International Inc. (BAX) Reports Second-Quarter 2022 Results; BAX reports Non-GAAP EPS of $0.87, which was in line with expectations and increased 9% year-over-year. Revenue improved 21% to $3.75 billion, $130 million less than expected. Management now expects full-year U.S. GAAP EPS of $1.82 to $1.92 and adjusted EPS of $3.60 to $3.70.

 

Altria Group, Inc. (MO) Reports 2022 Second-Quarter and First-Half Results; MO reports Non-GAAP EPS of $1.26, a 2.4% increase from the prior year and $0.01 above estimates. Revenue of $5.37 billion misses analyst estimates by $50 million by decreasing 4.1% versus the same quarter last year. Management reaffirm guidance to deliver 2022 full-year adjusted diluted EPS in a range of $4.79 to $4.93. This range represents an adjusted diluted EPS growth rate of 4% to 7% from a $4.61 base in 2021.

 

V.F. Corporation (VFC) Reports First-Quarter 2023 Results; VFC reports first quarter Non-GAAP EPS of $0.09, a 68% decline from last year and $0.05 miss of estimates. Revenue improved 3.2% to $2.26 billion, $20 million higher than expected. For FY23 Management now expect adjusted EPS of $3.05 to $3.15, implying 4% to 7% growth versus the prior year on a constant dollar basis.

 

Triton International Limited (TRTN) Reports Second Quarter 2022 Results; TRTN reports second quarter Non-GAAP EPS of $2.92, a 36.4% above from last year and $0.27 ahead of estimates. Revenue grew 14.0% to $421.6 million, topping estimates $1.65 million. For the third quarter, management expects adjusted net income per share will remain in line with our very strong second quarter results.

 

T. Rowe Price Group, Inc. (TROW) Reports Second Quarter 2022 Results; TROW reports Non-GAAP EPS of $1.79, missing analyst estimates by $0.36 and decreasing 45.9% year-over-year. Revenue of $1.51 billion missed analyst estimates by $170 million and decreases 21.8% versus the same quarter last year.

 

Lazard Ltd (LAZ) Reports Second-Quarter and First-Half 2022 Results; LAZ reports second quarter Non-GAAP EPS of $0.92, 28% lower than last year but $0.06 ahead of estimates. Revenue of $639.55 million misses analyst estimates by $26.84 million by decreasing 22.3% versus the same quarter last year. AUM as of June 30, 2022, was $217 billion, down 14% from March 31, 2022, and down 22% from June 30, 2021.

 

Digital Realty Trust, Inc. (DLR) Reports 2022 Second Quarter Results; DLR reports second quarter FFO of $1.72, 11.7% above last year’s result and $0.07 more than expected. Revenue of $1.1 billion missed analyst estimates by $50 million and increased 82.30.9% versus the same quarter last year. DLR updated 2022 core FFO per share outlook to $6.75 – $6.85 and reiterated 2022 constant-currency core FFO per share outlook of $6.95 – $7.05.

 

LTC Properties, Inc. (LTC) Reports 2022 Second Quarter Results; LTC reports second quarter FFO of $0.64, 12.3% higher than last year but $0.02 ahead of estimates. Revenue grew 12.9% to $43.02 million, topping estimates $5.14 million.

 

TC Energy Corporation (TSE:TRP) Reports Second Quarter 2022 Results; TRP reports Non-GAAP EPS of C$1.00, 5.66% lower than the prior year but C$0.02 higher than expected. Comparable EBITDA grew 5.48% to C$2.37 billion. Management expected comparable EBITDA to be modestly higher than 2021 and 2022 comparable earnings per common share outlook is expected to be consistent with 2021.

 

Fortis Inc. (TSE:FTS) Releases Second Quarter 2022 Results; FTS reports Non-GAAP EPS of C$0.57, beating analyst estimates by C$0.11 and increased 3.6% year-over-year. Revenue grew 16.9% to C$2.49 billion, topping estimates by C$240 million. FTS expects long-term growth in rate base will support earnings and dividend growth. FTS is targeting average annual dividend growth of approximately 6% through 2025.

 

Canadian Utilities Limited (TSE: CU) Reports Second Quarter 2022 Results; CU reports Q2 Non-GAAP EPS of C$0.51, a 18.6% higher than the previous year and C$0.05 ahead of estimates.

 

July 29, 2022

 

Chevron Corporation (CVX) Announces Second Quarter 2022 Results; CVX reports Non-GAAP EPS of $5.82, beating analyst estimates by $0.79 and increased 240% year-over-year. Revenue of $68.76 billion beats analyst estimates by $11.07 billion and increased 85.9% versus the same quarter last year.

 

AbbVie Inc. (ABBV) Reports Second-Quarter 2022 Financial Results; ABBV reports Non-GAAP EPS of $3.37, a 11.2% increase from the prior year and $0.06 above estimates. Revenue of $417.14.58 billion misses analyst estimates by $60 million even increased 4.4% versus the same quarter last year. Management confirms 2022 Adjusted Diluted EPS Guidance Range of $13.78 – $13.98 from prior outlook of $13.92-$14.12

 

Magna International Inc. (MGA) Announces Second Quarter 2022 Results; MGA reports Non-GAAP EPS of $0.83, 40.7% lower than last year and $0.09 lower as estimates. Revenue increased 3.7% to $9.36 billion, which was $440 million more than expected. Management increased FY2022 sales outlook to $37.6B – $39.2B from prior view of $37.3B to $38.9B and reaffirms net income in the range of $1.3B to $1.5B.

 

W. P. Carey Inc. (WPC) Announces Second Quarter 2022 Financial Results; WPC reports second quarter FFO of $1.27, 3.25% higher than last year and $0.04 above estimates. Revenues grew by 9.4% to $344.39 million beating estimates by $1.81 million. Management raised and narrowed 2022 AFFO guidance to between $5.22 and $5.30 per diluted share.

 

Enbridge Inc. (TSE:ENB) Reports Second Quarter 2022 Financial Results; ENB reports Q2 Non-GAAP EPS of C$0.67, the same as previous year and C$0.02 lower as estimates. Distributable cash flow (DCF) of C$2.7 billion or C$1.36 per common share, compared with C$2.5 billion or C$1.24 per common share in 2021. ENB reaffirmed 2022 full year guidance range for EBITDA of C$15.0 billion to C$15.6 billion and DCF per share of C$5.20 to C$5.50.

 

Pacific Energy and Enbridge Inc. (TSE:ENB) Announce Partnership in Woodfibre LNG; ENB announced it will partner with Pacific Energy Corp. to spend C$5.1B (US$3.98B) in the joint construction and operation of the Woodfibre LNG project in British Columbia. ENB will invest in a 30% ownership stake in the liquefied natural gas project, with Pacific Energy holding the remaining 70%, but Enbridge did not specify how much it would pay for the stake.

 

 

Articles that caught my attention:

 

 

Undervalued Dividend Growth Stock of the Week: Altria Group (MO) by Jason Fieber, Mr. Free at 33, at Daily Trade Alert7 Advantages of Dollar-Cost Averaging Dividend Stocks Right Now by Tom at Dividends DiversifyNine Dividend Growth Stocks Rewarding Shareholders With a Raise by Dividend Growth InvestorReviewing every dividend stock transaction between 2020 – 2022 by Bob at TawcanWhy Texas Instruments Is A Buy For Dividend Growth Investors by FerdiS at Seeking AlphaDow: Bag This Chemical Giant’s 5.4% Yield by Gen Alpha at Seeking AlphaMedical Properties Trust Stock: Is Now A Good Time To Buy? by The Alpha Sieve at Seeking AlphaBest Stocks to Hold for the Recession [Podcast] by DivGuy at The Dividend Guy BlogRaytheon Technologies – A Defense And Commercial Aerospace Powerhouse by Financial Freedom Is A Journey3 Important Implications From Energy Transfer’s Third 2022 Distribution Hikeby High Yield Investor at Seeking AlphaBuffett Doesn’t Buy Real Estate? Ask STORE Capital by David Alton Clark at Seeking AlphaIntel: Disaster Quarter by Jonathan Weber at Seeking AlphaExxon Mobil Corporation (XOM) Dividend Stock Analysis by D4L at Dividend Growth StocksWait For ADP’s Valuation to Improve by Financial Freedom Is A Journey 5 Undervalued Dividend Growth Stocks by Dividend Power at Seeking Alpha

 

 

Thanks for stopping by, have a nice next week!

 

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