Nike Faces Continued Revenue Declines
March 22, 2025
Image: Nike’s shares remain under pressure. By Brian Nelson, CFA On March 20, Nike (NKE) reported better than expected third quarter fiscal 2025 results, but the firm’s outlook signaled continued difficulties. Third quarter revenues were down 9% on a reported basis and 7% on a currency-neutral basis. Nike Brand revenues fell 9% on a reported basis and 6% on a currency-neutral basis, as the firm faced declines in all geographies. Nike Direct revenues dropped 12% on a reported basis and 10% on a currency-neutral basis. Wholesale revenues fell 7% on a reported basis and 4% on a currency-neutral basis. Revenues for Converse dropped 18% on a reported basis and 16% on a currency-neutral basis. Its gross margin tumbled 330
Dividend Increases/Decreases for the Week of March 21
March 21, 2025
Below we provide a list of firms that raised their dividends during the week ending March 21. 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 Africa Oil Corp. (AOIFF): now $0.0371 per share quarterly dividend, was $0.0250. AG Mortgage Investment Trust (MITT): now $0.20 per share quarterly dividend, was $0.19. Alvopetro Energy (ALVOF): now $0.10 per share quarterly dividend, was $0.09. Americold Realty Trust (COLD): now $0.23 per share quarterly dividend, was $0.22. Andlauer Healthcare Group (AND:CA): now CAD 0.12 per share quarterly dividend, was CAD 0.11. ArcelorMittal S.A.
Realty Income Has Raised Its Dividend 130 Times Since Listing on the NYSE in 1994
March 17, 2025
Image Source: Realty Income By Brian Nelson, CFA Realty Income (O) recently reported mixed fourth quarter results with the REIT’s top line exceeding the consensus forecast, but funds from operations coming up a little light. For the three months ended December 31, net income was $199.6 million, or $0.23 per share. Adjusted funds from operations (AFFO) per share increased 4%, to $1.05. In the quarter, Realty Income invested $1.7 billion at an initial weighted average cash yield of 7.1%. Net debt to annualized pro forma adjusted EBITDAre was 5.4x. Management was pleased with the report, as noted in the press release: I (Sumit Roy, Realty Income’s President and Chief Executive Officer) am pleased with our performance in 2024 as we
Dollar General’s Long-term Framework Looks Achievable
March 17, 2025
Image Source: TradingView By Brian Nelson, CFA On March 13, Dollar General (DG) reported mixed fourth quarter fiscal 2024 results with revenue outpacing the consensus forecast, but GAAP earnings per share coming up a bit light. Fourth quarter net sales advanced 4.5%, while same store sales increased 1.2% in the quarter, the latter better than the consensus estimate of 0.9%. Fourth quarter operating profit dropped 49.2% and fourth quarter diluted earnings per share dropped 52.5%, which included charges associated with its store portfolio review. Despite the mixed report, management was pleased with the results: We were pleased with the underlying performance of the business in the fourth quarter, including improved execution and solid top-line results. As we reflect on our
Dividend Increases/Decreases for the Week of March 14
March 14, 2025
Below we provide a list of firms that raised their dividends during the week ending March 14. 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 Acer (ACEYY): now NT 1.70 per share annual dividend, was NT 1.60. Afya (AFYA): now R$1.348923 pare share dividend. Aker Carbon Capture (AKRCY): now NOK 4.82 per share dividend. Altius Minerals Corporation (ALS:CA): now CAD 0.09 per share quarterly dividend, was CAD 0.08. Annaly Capital Management (NLY): now $0.70 per share quarterly dividend, was $0.65. Applied Materials (AMAT): now $0.46 per share quarterly dividend,
Dick’s Sporting Goods Raises Quarterly Payout
March 11, 2025
Image Source: TradingView By Brian Nelson, CFA On March 11, Dick’s Sporting Goods (DKS) reported better than expected fourth quarter fiscal 2024 results, with both revenue and non-GAAP earnings per share outpacing the consensus forecasts. Net sales advanced 0.5% in the quarter on a year-over-year basis thanks in part to a 6.4% increase in comparable sales. Non-GAAP net income, however, fell 6% in the 13 weeks ended February 1, 2025. Non-GAAP earnings per share also dropped 6%. Management was upbeat in the press release: The convergence of sport and culture in our country has never been stronger, and with a series of major sporting events set to take place in the U.S., this momentum is only expected to grow through
Oracle Raises Dividend 25%
March 10, 2025
Image Source: TradingView By Brian Nelson, CFA Oracle (ORCL) reported third quarter fiscal 2025 results March 10 that missed the consensus estimates, but a strong Remaining Performance Obligation number and a dividend raise were enough for investors. Total revenue increased 6% in USD and 8% in constant currency for the fiscal third quarter. GAAP earnings per share advanced 20% year-over-year, while non-GAAP earnings per share increased 4%, to $1.47. Total Remaining Performance Obligations jumped 62% in USD (up 63% in constant currency), to $130 billion. Management was upbeat about its outlook: Oracle signed sales contracts for more than $48 billion in Q3. This record sales number pushed our Remaining Performance Obligations, or RPO, up 63% to over $130 billion. We
Broadcom Remains a Free Cash Flow Cow
March 9, 2025
Image: Broadcom’s shares have done quite well since the beginning of 2023. By Brian Nelson, CFA Broadcom (AVGO) reported first-quarter fiscal 2025 results on March 6, where revenue and non-GAAP earnings per share topped the consensus estimates. Revenue leapt 25% for the first quarter from the prior-year period, while non-GAAP net income came in at $7.8 billion in the quarter. Adjusted EBITDA was 68% of revenue in the first quarter, coming in at $10.08 billion. Non-GAAP diluted earnings per share was $1.60 for the first quarter. Management had the following to say about performance in the press release; Broadcom’s record first quarter revenue and adjusted EBITDA were driven by both AI semiconductor solutions and infrastructure software. Q1 AI revenue grew
Costco Is Not Immune to Tariff Pressures
March 9, 2025
Image Source: Costco By Brian Nelson, CFA On March 6, Costco (COST) reported mixed second quarter fiscal 2025 results with revenue exceeding the consensus forecast but GAAP earnings per share missing the mark. Net sales in the quarter advanced 9.1%, while total company comparable sales growth came in at 6.8%. E-commerce revenue increased 20.9% (22.2% adjusted) in the 12 weeks ended February 16, 2025. Backing out changes in gasoline prices and foreign exchange, total company comparable store sales increased 9.1% (versus 6.8% consensus). Net income for the quarter came in at $1.788 billion, or $4.02 per share, compared to $1.743 billion, or $3.92 per diluted share in last year’s quarter. Management noted the following about tariffs on the conference call:
Enterprise Products Partners Remains a Key Idea
March 3, 2025
Image: Enterprise Products Partners units have fared well since the beginning of 2023. By Brian Nelson, CFA Enterprise Products Partners (EPD) recently reported fourth quarter results that came in better than expected on both the top and bottom lines. Enterprise reported net income attributable to common unitholders of $1.6 billion, or $0.74 per diluted common unit, which was a 3% increase compared to last year’s marks. Distributable cash flow [DCF] was $2.2 billion for the fourth quarter of 2024 compared to $2.1 billion in the same period a year ago. Distributions increased 3.9%, to $2.14 per common unit annualized, compared to distributions declared in the same quarter last year. DCF offered 1.8 times coverage of the distributions declared for the
