Brian Nelson

Key Comments from the Banks This Earnings Season

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Image Source: TradingView By Valuentum Analysts JPMorgan’s (JPM) CEO Jamie Dimon: The Firm concluded the year with a strong fourth quarter, generating net income of $14.7 billion excluding a significant item. Each line of business performed well. In the CIB, revenue rose 10%. Markets continued to benefit from demand for financing and robust client activity, pushing revenue up 17%. Additionally, Payments revenue reached a record $5.1 billion due to ongoing deposit and fee growth. In CCB, revenue rose 6%, and the franchise continued to acquire new customers at a robust pace. This year, we opened 1.7 million net new checking accounts and 10.4 million new credit card accounts, and we also grew wealth management households to over 3 million. Looking … Read more

Valuentum’s Best Ideas Newsletter Portfolio

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*Portfolio information as of published date in top, left corner of table above. The Best Ideas 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. By The Valuentum Team The Best Ideas Newsletter portfolio seeks to find stocks that have both good value and good momentum characteristics and typically targets capital appreciation potential over a longer-term horizon. The newsletter puts the Valuentum Buying Index methodology into practice. To access Valuentum’s in-depth articles and analysis on holdings in the portfolio of its Best Ideas Newsletter (as well as their 16-page reports and dividend reports, where … Read more

Valuentum’s Dividend Growth Newsletter Portfolio

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*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 … Read more

Oracle Has Turned Into a Net Debt Heavy, Free Cash Flow Burning Enterprise

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Image Source: TradingView By Brian Nelson, CFA On December 10, Oracle (ORCL) reported second quarter fiscal 2026 results that were mixed, with revenue missing the consensus forecast, but non-GAAP earnings per share exceeding expectations. Total quarterly revenues were up 14% in USD, and up 13% in constant currency. Second quarter remaining performance obligations (RPO) were $523 billion, up 438% in USD. Cloud revenue (IaaS plus SaaS) was up 34% in USD and 33% in constant currency. Cloud Infrastructure (IaaS) revenue was up 68% in USD and 66% in constant currency, while Cloud Application (SaaS) revenue was up 11% in both USD and constant currency. Non-GAAP earnings per share was up 54%, to $2.26. Management had the following to say about the … Read more

The TJX Companies Raises Fiscal 2026 Outlook

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Image Source: TradingView By Brian Nelson, CFA The TJX Companies (TJX) recently reported third quarter fiscal 2026 results that beat on both the top and bottom lines. The off-price apparel and home fashions retailer posted net sales for the third quarter of $15.1 billion, an increase of 7% versus the same period of fiscal 2025. Third quarter consolidated comparable sales increased 5%, well above the company’s plan and above consensus of 3.6%. Also above the company’s plan were third quarter pretax profit margin and diluted earnings per share of $1.28, up 12%. Management had the following to say about the results: I am extremely pleased with our third quarter performance and the excellent execution of our off-price business model by … Read more

Macy’s Raises Outlook for 2025

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Image Source: TradingView By Brian Nelson, CFA Macy’s (M) recently reported third quarter results that came in better than expected on both the top and bottom lines. The retailer achieved net sales of $4.7 billion, exceeding the company’s guidance range. Macy’s reported comparable sales were up 2.5% on an owned basis and up 3.2% on a comparable owned-plus-licensed-plus marketplace (O+L+M) basis, also exceeding the company’s guidance range. Adjusted diluted earnings per share was $0.09, above its prior guidance range thanks to better-than-expected net sales, gross margin, and overhead costs. Bloomingdale’s comparable store sales were up 8.8% on an owned basis and up 9.0% on an O+L+M basis, the highest in 13 quarters. Management had the following to say about the results: … Read more

NextEra Energy Expects Continued Dividend Growth

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Image Source: NextEra Energy By Brian Nelson, CFA NextEra Energy (NEE) recently reported mixed third quarter results with non-GAAP earnings per share beating the consensus forecast but revenue coming up short relative to expectations. On an adjusted basis, third-quarter earnings were $2.348 billion, or $1.13 per share, compared to $2.127 billion, or $1.03 per share, in the third quarter of last year. FPL grew regulatory capital employed by approximately 8% year-over-year, while NextEra Energy Resources achieved a strong quarter of new renewables and storage origination, adding 3 gigawatts to its backlog. Management had the following to say about the results: NextEra Energy delivered strong third-quarter results, with adjusted earnings per share increasing by 9.7% year-over-year. We believe the continued strong … Read more

Nvidia Says “Blackwell Sales Are Off the Charts”

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Image Source: TradingView By Brian Nelson, CFA On November 19, tech behemoth Nvidia (NVDA) reported better than expected third quarter results with both revenue and non-GAAP earnings per share exceeding the consensus forecasts. The company posted record revenue of $57 billion, up 62% from the same quarter a year ago, and record Data Center revenue of $51.2 billion, up 66% from the same period a year ago. Its non-GAAP gross margin was 73.6%, while non-GAAP diluted earnings per share was $1.30. At the end of the quarter, Nvidia had $60.6 billion in cash and marketable securities and $8.5 billion in short- and long-term debt. Management had the following to say about the results: Blackwell sales are off the charts, and cloud … Read more

Republic Services’ Pricing Strength Drives Results

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By Brian Nelson, CFA Trash taker Republic Services (RSG) recently reported third quarter results that were mixed. Revenue growth of 3.3% missed the consensus analyst estimate, while non-GAAP earnings per share exceeded the consensus mark by $0.12. Total revenue growth was driven by 1.7 percentage point organic growth and 1.6 percentage point growth from acquisitions. Adjusted earnings per share came in at $1.90 versus $1.81 per share in the prior-year period, while its adjusted EBITDA came in at $1.38 billion on a margin of 32.8%, up 80 basis points over the prior year quarter. Management had the following to say about the results: We delivered strong third-quarter results as we continue to execute our strategy for sustainable, profitable growth. Despite … Read more

Albemarle Is Getting Back on Track

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By Brian Nelson, CFA On November 5, Albemarle (ALB) reported better than feared third quarter results with both revenue and non-GAAP earnings per share exceeding the consensus forecasts. Net sales came of $1.3 billion declined modestly, while the company reported an adjusted loss of $0.19 per diluted share, up from an adjusted loss of $1.55 in the prior year period. Adjusted EBITDA came in at $226 million, up 7% due to improved fixed cost absorption and ongoing cost savings. Albemarle is on track to achieve full-year run-rate cost and productivity improvements of roughly $450 million, better than its initial target of $300-$400 million. Management had the following to say about the results: Our team delivered strong third quarter results, with … Read more