ASML Holding’s Net Bookings Beat Expectations
October 17, 2025
Image Source: TradingView By Brian Nelson, CFA On October 15, ASML Holding (ASML) reported mixed third quarter results with revenue coming in a bit light relative to forecasts, but GAAP earnings per share exceeding the consensus estimate. Third quarter total net sales increased modestly year-over-year and totaled €7.5 billion on a gross margin of 51.6%. Net income came in at €2.1 billion. Quarterly net bookings in the quarter were €5.4 billion, better than the consensus estimate of €4.9 billion, of which €3.6 billion is EUV (extreme ultraviolet lithography). Management had the following to say about the results: Our third-quarter total net sales of €7.5 billion and gross margin of 51.6% were in line with our guidance, reflecting a good quarter
Dividend Increases/Decreases for the Week of October 17
October 17, 2025
Below we provide a list of firms that raised their dividends during the week ending October 17. The dividend reports of covered firms on this list will be updated shortly with the new information. To access our dividend reports use the ‘Symbol’ search box in our website header. Firms Raising Their Dividends This Week A.O. Smith Corporation (AOS): now $0.36 per share quarterly dividend, was $0.34. Agree Realty (ADC): now $0.262 per share monthly dividend, was $0.256. Banner (BANR): now $0.50 per share quarterly dividend, was $0.48. Canadian Apartment Properties Real Estate Investment Trust (CAR.UN:CA): now CAD 0.1292 per share monthly dividend, was CAD 0.1291. Citizens Financial Group (CFG): now $0.46 per share quarterly dividend, was $0.42. DBM
PepsiCo’s Earnings Stagnate While Organic Revenue Expands
October 10, 2025
Image Source: TradingVIew By Brian Nelson, CFA On October 9, PepsiCo (PEP) reported third quarter results that came in better than expected on the top and bottom lines. Net revenue increased 2.6% thanks to a 1.3% increase in organic revenue performance. Earnings per share, however, fell 11%, to $1.90, while core earnings per share of $2.29. Core constant currency earnings per share dropped 2% in the quarter. PepsiCo Goods North America experienced a decline of 3% on an organic basis, while PepsiCo Beverages North America increased 2% organically. Organic revenue in its International Beverages Franchise fell 1%, while organic revenue increased nicely in the EMEA (+5.5%) and Latin America Foods (+4%) divisions. Organic revenue increased 1% in its Asia Pacific
Delta Air Lines Generates Record September Quarter Revenue
October 10, 2025
Image Source: TradingVIew By Brian Nelson, CFA On October 9, Delta Air Lines (DAL) reported excellent third quarter fiscal 2025 results with adjusted revenue and non-GAAP earnings per share exceeding the consensus forecast. Total operating revenue increased 6%, as passenger revenue increased 3% and cargo revenue advanced 19%. Operating income increased 21%, to $1.68 billion, in the quarter. Income before income taxes jumped 14%, while net income increased 11% in the quarter. Diluted earnings per share of $2.17 increased from $1.97 in the year-ago period. Management had the following to say about the quarter: Delta’s competitive advantages and differentiation have never been more evident, and thanks to the hard work of our people, we continue to elevate the customer experience
Dividend Increases/Decreases for the Week of October 10
October 10, 2025
Below we provide a list of firms that raised their dividends during the week ending October 10. The dividend reports of covered firms on this list will be updated shortly with the new information. To access our dividend reports use the ‘Symbol’ search box in our website header. Firms Raising Their Dividends This Week Avient (AVNT): now $0.275 per share quarterly dividend, was $0.270. Lockheed Martin (LMT): now $3.45 per share quarterly dividend, was $3.30. MSC Industrial Direct (MSM): now $0.87 per share quarterly dividend, was $0.85. MV Oil Trust (MVO): now $0.205 per share quarterly dividend, was $0.185. Northwest Natural Holding (NWN): now $0.4925 per share quarterly dividend, was $0.4900. Riley Exploration Permian (REPX): now $0.40 per
Casey’s General Stores Executing Well
October 7, 2025
Image Source: TradingView By Brian Nelson, CFA Casey’s General Stores (CASY) recently reported solid results for the first quarter of fiscal 2026. Revenue advanced 11.5% from the same period a year ago, while diluted earnings per share of $5.77 was up 19.5% from the same quarter last year. EBITDA of $414.3 million was up 19.8% from last year’s period. Inside same-store sales increased 4.3% compared to the prior year, and 6.7% on a two-year stacked basis, with an inside margin of 41.9%. Total inside gross profit increased 14.8%, while total fuel gross profit increased 18.8%. Management had the following to say about the results: Casey’s delivered an excellent first quarter highlighted by strong sales growth both inside and outside the
Lennar Continues to Navigate Weakness in the Housing Market
October 7, 2025
Image Source: TradingView By Brian Nelson, CFA Lennar Corp. (LEN) recently reported third quarter fiscal 2025 results that missed expectations on both the top and bottom lines. Total revenues declined 6.4% as revenues from home sales decreased 9% primarily due to a decline in the average sales price of homes delivered. Deliveries of 21,584 homes were consistent with the prior year, and the company ended the quarter with a backlog of 16,953 homes with a dollar value of $6.6 billion. Management had the following to say about the results: Our third quarter results reflect both the continued pressures of today’s housing market and the consistency of Lennar’s operating strategy. This quarter, we delivered 21,584 homes and recorded 23,004 new orders.
Nike Has Posted 23 Consecutive Years of Increasing Dividend Payouts
October 5, 2025
Image Source: TradingView By Brian Nelson, CFA Nike (NKE) recently reported decent first quarter fiscal 2026 results with both revenue and GAAP earnings per share beating the consensus forecast. First quarter revenues of $11.7 billion were up 1% on a reported basis, but down 1% on a currency neutral basis. Nike Direct revenues fell 5% on a currency neutral basis, while wholesale revenues advanced 5% on a currency neutral basis. Revenues for the Nike brand were flat on a currency neutral basis in the quarter, while sales for Converse dropped 28% on a currency neutral basis. Its gross margin fell 320 basis points, to 42.2%, due to pricing pressure, higher discounts and channel mix, as well as higher tariffs, while
Costco’s Shares Are Not Cheap
October 5, 2025
Image Source: Costco By Brian Nelson, CFA Costco Wholesale Corp. (COST) recently reported fourth quarter fiscal 2025 results, and they were quite good. Both revenue and GAAP earnings per share exceeded expectations. Net sales for the quarter increased 8%, to $84.4 billion, while adjusted comparable sales increased 6.4% on a total company basis, a deceleration from the adjusted annual rate of 7.6%, but still strong. Adjusted comps in the U.S. increased 6%, 8.3% in Canada, and 7.2% in its Other International segment. Adjusted e-commerce revenue grew 13.5% on an adjusted basis. Paid memberships grew 6.3%, while the number of total cardholders expanded 6.1%. Its worldwide membership renewal rate was 89.8%. Management was upbeat on its outlook on the conference call:
Dividend Increases/Decreases for the Week of October 3
October 3, 2025
Below we provide a list of firms that raised their dividends during the week ending October 3. The dividend reports of covered firms on this list will be updated shortly with the new information. To access our dividend reports use the ‘Symbol’ search box in our website header. Firms Raising Their Dividends This Week Armanino Foods of Distinction (AMNF): now $0.05 per share quarterly dividend, was $0.04. Autohome (ATHM): now $0.59/ADS dividend, was $0.57. Bank OZK (OZK): now $0.45 per share quarterly dividend, was $0.44. Farmers & Merchants Bancorp (FMAO): now $0.2275 per share quarterly dividend, was $0.2213. Kish Bancorp (KISB): now $0.40 per share quarterly dividend, was $0.39. RPM (RPM): now $0.54 per share quarterly dividend, was
