Dividend Increases/Decreases for the Week of January 17
January 17, 2025
Below we provide a list of firms that raised their dividends during the week ending January 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 Abbvie (ABBV): now $1.64 per share quarterly dividend, was $1.55. Algoma Central (ALC:CA): now CAD 0.20 per share quarterly dividend, was CAD 0.19. Alpine Banks of Colorado (ALPIB): now $0.21 per share quarterly dividend, was $0.20. Autoscope Technologies (AATC): now $1.05 per share special dividend, was $0.15. BSR Real Estate Investment Trust (HOM.U:CA): now CAD 0.0468 per share monthly dividend, was CAD 0.0467. CI
Taiwan Semiconductor’s Results Showcase Strong Growth
January 16, 2025
Image Source: TSM By Brian Nelson, CFA Taiwan Semiconductor (TSM) reported better than expected fourth quarter results January 16, with revenue and GAAP earnings per share coming in above the consensus forecast. The company reported consolidated revenue of NT$868.46 billion, net income of NT$374.68 billion, and diluted earnings per share of NT$14.45 (US$2.24 per ADR unit) in the fourth quarter of 2024. On a year-over-year basis, fourth quarter revenue increased 38.8%, while net income and diluted earnings per share both increased 57%. In U.S. dollars, fourth quarter revenue was $26.88 billion, up 37% on a year-over-year basis and at the high end of management’s guidance. TSM’s foundry operations continue to put up elevated levels of profitability. Gross margin for the
Bank Earnings Roundup: C, WFC, GS, JPM
January 15, 2025
Image Source: Hakan Dahlstrom By Brian Nelson, CFA Citigroup Authorizes New $20 Billion Buyback Program On January 15, Citigroup (C) reported better than expected fourth quarter results with revenue and GAAP earnings per share coming in higher than the consensus forecast. Revenue increased 12% from the prior year, to $19.6 billion, while net income for the fourth quarter of 2024 came in at $2.9 billion, or $1.34 per diluted share. Its CET1 Capital ratio was 13.6% at the end of the period versus 13.7% at the end of the prior quarter last year. Citigroup’s book value per share came in at $101.62 at the end of the quarter, increasing 3% versus the prior-year period, while tangible book value per share was
KB Home’s Outlook for 2025 Better Than Expected
January 14, 2025
Image: KB Home’s shares have done well since the beginning of 2023. By Brian Nelson, CFA KB Home (KBH) reported fourth quarter results on January 13 that beat expectations on both the top and bottom lines. Year-over-year, revenues were up 19%, to $2 billion, above consensus of $1.98 billion, while homes delivered increased 17% and average selling price advanced 3%, to $501,000. Homebuilding operating income increased 27% in the quarter thanks in part to a 60 basis-point improvement in its homebuilding operating income margin. KB Home’s housing gross profit margin increased to 20.9% from 20.7% in the same period last year. Financial services pretax income grew 8% in the quarter. Net income rose 27%, while diluted earnings per share increased
Walgreens Reports Better Than Feared Results, Shares Yield 8.5%
January 13, 2025
Image Source: Walgreens By Brian Nelson, CFA On January 10, Walgreens (WBA) reported better than feared first quarter results of fiscal 2025 with revenue and non-GAAP earnings per share coming in higher than the consensus forecast. Fiscal first quarter sales increased 7.5% from the year-ago quarter and 6.9% on a constant currency basis. Adjusted operating income was $593 million in the quarter compared to adjusted operating income of $687 million in the year-ago period. Adjusted earnings per share came in at $0.51 versus adjusted earnings per share of $0.66 in the year-ago quarter. Management had the following to say about the quarterly results: Our first quarter results reflect our disciplined execution against our 2025 priorities: stabilizing the retail pharmacy by
Delta Delivers Most Profitable December Quarter in Its History
January 11, 2025
Image Source: Colin Brown By Brian Nelson, CFA On January 10, Delta Air Lines (DAL) posted fourth quarter 2024 results that beat on both the top and bottom lines. Adjusted operating revenue increased 5.7% in the fourth quarter, and the firm leveraged the top line growth into 30.4% expansion in adjusted operating income. Its adjusted operating margin in the quarter hit 12% compared with 9.7% in the same period a year ago. Adjusted pre-tax income was 47% higher on a year over year basis, while its adjusted pre-tax margin reached 10.8% versus 7.8% in last year’s quarter. Adjusted net income increased 45.6%, while adjusted diluted earnings per share expanded to $1.85 in the quarter versus $1.74 consensus and $1.28 in last
Dividend Increases/Decreases for the Week of January 10
January 10, 2025
Below we provide a list of firms that raised their dividends during the week ending January 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 Albertsons Companies (ACI): now $0.15 per share quarterly dividend, was $0.12. Alpine Banks of Colorado (ALPIB): now $0.21 per share quarterly dividend, was $0.20. Apogee (APOG): now $0.26 per share quarterly dividend, was $0.25. ATCO (ACO.X:CA): now CAD 0.5045 per share quarterly dividend, was CAD 0.4898. ATCO Ltd. (ACO.Y:CA): now CAD 0.5045 per share quarterly dividend, was CAD 0.4898. Barry Callebaut AG (BRRLY): now
Dividend Aristocrat Caterpillar’s Dividend on Solid Ground
January 8, 2025
Image Source: Caterpillar By Brian Nelson, CFA Caterpillar (CAT) recently reported third quarter results that missed on both the top and bottom lines. Performance declined across the board. Sales and revenues dropped 4% to $16.1 billion from $16.8 billion in the year-ago quarter (lower than what management had been anticipating), profit per share fell to $5.06 from $5.45 in the third quarter of 2023, while adjusted profit per share dropped to $5.17 from $5.52 in the same period a year ago. Weakness was driven by lower sales volume of $759 million, driven by lower sales equipment to end users. Changes in dealer inventories also negatively impacted sales. Caterpillar’s adjusted operating margin came in at 20.0% for the third quarter of
Lowe’s Experiences Softness in Bigger Ticket Discretionary Demand
January 8, 2025
Image: Lowe’s shares have rallied nicely since the beginning of 2023. By Brian Nelson, CFA Home improvement retailer Lowe’s (LOW) recently reported third quarter results that showed a beat on both the top and bottom lines. Net sales fell 1.5% in the quarter as comparable sales fell 1.1%, which beat the consensus estimate expecting a fall of 3.3% in comparable sales. Management attributed the weakness to “continued softness in Do-It-Yourself [DIY] bigger-ticket discretionary demand” that was only “partly offset by storm-related sales and positive comparable sales in Pro and online.” Diluted earnings per share of $2.99 in the quarter, inclusive of a pre-tax gain associated with the 2022 sale of its Canadian retail business, compared to $3.06 in the same
Target Expects Ho Hum Holiday Results
January 6, 2025
Image Source: Target By Brian Nelson, CFA Target (TGT) recently reported third quarter 2024 results that missed on both the top and bottom lines, and the retailer issued ho-hum guidance for the holiday fourth quarter. Third quarter comparable sales advanced 0.3% in the third quarter (versus consensus expectations of 1.5%) as strong traffic and digital performance were offset by a comparable store sales decline of 1.9%. Guest traffic grew 2.4% in the quarter, however, while digital comparable sales increased 10.8% thanks to growth in same-day delivery and drive up. Beauty comparable sales grew more than 6% in the quarter, while Food & Beverage and Essentials categories grew low-single digits compared to the same period last year. Its gross margin rate
