Republic Services Continues to Price Effectively
May 13, 2026
Image Source: TradingView By Brian Nelson, CFA Trash taker Republic Services (RSG) recently reported first-quarter 2026 results that beat expectations on both the top and bottom lines. Quarterly revenue growth came in at 2.6%, which includes 2.8% organic growth from its recycling and waste business, a 1.3% organic decline from its environmental solutions business, and 1.1% growth from acquisitions. Net income on an adjusted basis came in at $526 million, or $1.70 per diluted share, which compares to $496 million, or $1.58 per diluted share, in last year’s quarter. Republic expanded its net income margin and adjusted EBITDA margin by 50 basis points in the period. Management had the following to say about the results: We are off to a
Apple Reports Record March Quarter
May 13, 2026
Image Source: TradingView By Brian Nelson, CFA Apple (AAPL) recently announced second-quarter fiscal 2026 results, with the company beating the consensus estimate on both the top and bottom lines. Apple posted March quarter records for total company revenue, iPhone revenue, and earnings per share. Its Services revenue also notched a new record high in the quarter. Quarterly revenue of $111.2 billion was up 17%, while diluted earnings per share of $2.01 was up 22% year over year. Management had the following to say about the results: Today Apple is proud to report our best March quarter ever, with revenue of $111.2 billion and double-digit growth across every geographic segment. iPhone achieved a March quarter revenue record, fueled by such extraordinary
Alphabet’s Cloud Growth Is Fantastic
May 13, 2026
Image Source: TradingView By Brian Nelson, CFA Alphabet (GOOG) (GOOGL) recently reported first-quarter 2026 results that beat expectations on both the top and bottom lines. Consolidated Alphabet revenues increased 22% (19% in constant currency), to $109.9 billion, marking the company’s 11th consecutive quarter of double-digit expansion. Google Services revenue increased 16%, but the real takeaway in the report was the firm’s Google Cloud business. Google Cloud revenues increased 63% thanks to an increase in Google Cloud Platform (GCP) across enterprise AI Solutions and enterprise AI infrastructure, as well as core GCP services. Management had the following to say about the quarter: 2026 is off to a terrific start. Our AI investments and full stack approach are lighting up every part
Valuentum’s Dividend Growth Newsletter Portfolio
May 1, 2026
*Portfolio Information as of published date in top, left corner of table. The Dividend Growth Newsletter portfolio is not a real money portfolio. Past results are not a guarantee of future performance, and actual results may differ from simulated information provided. There is substantial risk associated with investing in financial instruments. The Dividend Growth Newsletter portfolio puts into practice our rigorous valuation and dividend growth frameworks. To access our commentary, articles and analysis on holdings in the portfolio of our Dividend Growth Newsletter (as well as each company’s 16-page equity report and dividend report), please use our ‘Symbol’ search box in our website header. The Dividend Growth Newsletter portfolio can always be found in each edition of the monthly Dividend Growth Newsletter. Learn more about your membership >> More
Microsoft Reports Strong Fiscal Third Quarter Results
April 30, 2026
Image Source: TradingView By Brian Nelson, CFA On April 29, Microsoft (MSFT) reported better than expected fiscal third-quarter results with revenue and GAAP earnings per share coming in higher than the consensus forecasts. Quarterly revenue came in at $82.9 billion, increasing 18% (15% in constant currency) year-over-year, and the software giant leveraged that growth into a 20% increase (16% in constant currency) in operating income for the period. Both net income and diluted earnings per share advanced 20% on a GAAP basis and 18% on a constant currency non-GAAP basis. Management had the following to say about the results: We are focused on delivering cloud and AI infrastructure and solutions that empower every business to eval-max their outcomes in the
Philip Morris Remains a Free Cash Flow Cow
April 26, 2026
Image Source: TradingView By Brian Nelson, CFA On April 22, Philip Morris (PM) reported better than expected first quarter results that beat the consensus top- and bottom-line estimates. Net revenues increased 9.1% (2.7% organically), to $10.1 billion, with both its smoke-free and combustibles businesses contributing to the top line advance. Smoke-free revenue was up 12.4% (5.2% organically), while combustibles revenue was up 6.7% (0.9% organically). Philip Morris’ smoke-free business now accounts for 43% of total net revenues. Management had the following to say about the results: Our performance exceeded our expectations in the first quarter, with an outstanding delivery from IQOS driving very good growth for the group against a strong prior-year comparison. Building on excellent broad-based momentum in the
AT&T Targets $18+ Billion in Free Cash Flow for 2026
April 26, 2026
Image Source: TradingView By Brian Nelson, CFA On April 22, AT&T (T) reported first quarter results that beat the consensus estimates on both the top and bottom lines. Operating revenue in the first quarter of 2026 was $31.5 billion, up 2.9% year-over-year, reflecting higher Advanced Connectivity wireless and fiber revenue. Operating revenue in Mexico also advanced, while lower Legacy revenue proved to be a headwind. First-quarter 2026 income from continuing operations totaled $4.2 billion, or $0.54 per diluted share, down from $0.61 in the first quarter of 2025. Cash from operating activities from continuing operations in the first quarter of 2026 was $7.6 billion, down $1.5 billion when compared to 2025, with prior-year operating cash flows including $1.4 billion of
Tesla’s Future Is “Incredibly Bright”
April 26, 2026
Image Source: Tesla By Brian Nelson, CFA On April 22, Tesla (TSLA) reported better than expected first quarter results with revenue and non-GAAP earnings per share coming in better than the consensus estimates. Automotive and total revenues advanced 16% from the year-ago period, while gross profit rose 50%, as gross margins expanded nearly 480 basis points. Though down sequentially, income from operations more than doubled versus the same period last year, as its operating margin swelled 214 basis points. Adjusted EBITDA increased 30% on a 183 basis-point improvement in its EBITDA margin. Year-over-year, non-GAAP net income rose 56%, while non-GAAP earnings per share advanced 52%. Management had the following to say about the results: We continued to make meaningful progress
UnitedHealth Group Raises 2026 Adjusted Earnings Guidance
April 26, 2026
Image Source: TradingView By Brian Nelson, CFA On April 21, UnitedHealth Group (UNH) reported better than feared first quarter results with both revenue and non-GAAP earnings coming in higher than the consensus estimates. First-quarter 2026 revenues grew 2%, to $111.7 billion, while adjusted earnings per share came in at $7.23 compared to $7.20 in the year-ago period. Earnings from operations in the quarter was $9.0 billion, down from $9.1 billion in the first quarter of 2025, while its first-quarter 2026 medical care ratio fell to 83.9% compared to 84.8% in the first quarter of last year. Its first-quarter 2026 operating cost ratio was 13.8%, compared to 12.4% in 2025. Management noted that it continues “to help simplify and modernize health
Lockheed Martin Reaffirms 2026 Outlook
April 26, 2026
Image Source: TradingView By Brian Nelson, CFA On April 23, Lockheed Martin (LMT) reported weak first quarter results that missed expectations on both the top and bottom lines. Revenue was essentially flat on a year-over-year basis, to $18.02 billion, missing estimates by $230 million, while GAAP earnings per share of $6.44 missed the consensus estimate by $0.25 and compared to $7.28 in the first quarter of 2025. Cash flow from operations was $220 million in the first quarter, while free cash flow dipped into the red at -$291 million, compared to $955 million in the first quarter of 2025. Management had the following to say about the results: Lockheed Martin’s superior capabilities in delivering advanced defense technology and systems and
