Brian Nelson

TJX Companies Is a Standout in Retail

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Image Source: TradingView By Brian Nelson, CFA TJX Companies (TJX) recently reported better than expected second quarter fiscal 2026 results. The off-price apparel and home fashions retailer posted consolidated comparable store sales growth of 4%, which was above the company’s target. Comparable store sales growth at Marmaxx was 3%, HomeGoods came in at 5%, TJX Canada was 9%, while TJX International came in at 5%. Net sales for the second quarter were $14.4 billion, an increase of 7% versus the second quarter of last year. Its pre-tax profit margin in the quarter of 11.4% increased 0.5 percentage points over last year and was also above its plan. Second quarter diluted earnings per share of $1.10 was up 15% and well … Read more

Starbucks’ Turnaround Continues

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Image Source: TradingView By Brian Nelson, CFA Starbucks (SBUX) recently reported fiscal third quarter results that came in better than feared. Global comparable store sales declined 2%, driven by a 2% decline in comparable transactions, offset in part by a modest increase in average ticket. North America comparable store sales declined 2%, less than the 2.49% decline expected, driven by a 3% decline in comparable transactions, offset in part by a 1% increase in average ticket. U.S. comparable sales dropped 2%, driven by a 4% decline in comparable transactions, offset in part by a 2% increase in average ticket. International comparable store sales were flat, while China comparable store sales increased 2% (versus 1.44% estimate), driven by a 6% increase … Read more

Realty Income’s Dividend Remains on Solid Ground

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Image Source: Realty Income By Brian Nelson, CFA Realty Income (O) recently reported second quarter results with revenue exceeding the consensus forecast, but funds from operations coming in-line with expectations. In the quarter, net income available to common shareholders was $0.22 per share, while adjusted funds from operations (AFFO) came in at $1.05 per share. The REIT invested $1.2 billion at an initial weighted average cash yield of 7.2% in the quarter, while net debt to annualized pro forma adjusted EBITDAre was 5.5x. It achieved a rent recapture rate of 103.4% on properties re-leased in the quarter. Management had the following to say about the results: Realty Income’s ability to deliver attractive, consistent total operational returns across economic cycles reflects … Read more

UPS May Cut Its Lofty Dividend

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Image Source: TradingView By Brian Nelson, CFA United Parcel Service (UPS) recently posted second quarter results that were mixed with revenue beating the consensus forecast, but non-GAAP earnings per share coming up short. Second quarter consolidated revenues were $21.2 billion, while consolidated operating profit was $1.8 billion, or $1.9 billion on a non-GAAP adjusted basis. It posted a non-GAAP adjusted consolidated operating margin of 8.8% in the period. Diluted earnings per share came in at $1.51 for the quarter, while non-GAAP adjusted diluted earnings per share were $1.55. Management had the following to say about the results: I want to thank all UPSers for their dedication and hard work in what continues to be a dynamic and evolving trade environment. … Read more

Verizon’s Debt Load is Too High for Our Income-Oriented Preference

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Image Source: TradingView By Brian Nelson, CFA Verizon Communications (VZ) recently reported second quarter results that came in better than expectations. Wireless service revenue in the second quarter was $20.9 billion, up 2.2% year-over-year, while total operating revenue of $34.5 billion was up 5.2% year-over-year. Consolidated adjusted EBITDA was $12.8 billion in the second quarter versus $12.3 billion in the second quarter of 2024. Adjusted earnings per share, excluding special items, came in at $1.22 versus $1.15 in the prior-year quarter. Management had the following to say about the results: Verizon’s strong second-quarter financial performance reflects our high-quality, industry-leading customer base, our multiple growth paths, the success of our disciplined, segmented approach, and the inherent strength of our company. Our … Read more

Dividend Increases/Decreases for the Week of September 19

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Below we provide a list of firms that raised their dividends during the week ending September 19. 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                          Adamas Trust (ADAM): now $0.23 per share quarterly dividend, was $0.20. Apartment Investment (AIV): now $2.23 per share special dividend, was $0.60. Banco Macro (BMA): now $0.3665 per share quarterly dividend, was $0.3658. CareRx (CRRX:CA): now CAD 0.02 per share quarterly dividend. Cherry Hill Mortgage Investment Corporation 8.250 CUM PFD B (CHMI.PR.B): now $0.6523 per share quarterly dividend, was $0.6413. Cross Timbers Royalty Trust … Read more

Dick’s Sporting Goods Raises Guidance as It Closes its Deal for Foot Locker

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Image Source: TradingView By Brian Nelson, CFA Dick’s Sporting Goods (DKS) recently reported second quarter results that came in better than expected. Net sales increased 5% on a year-over-year basis, with comparable sales coming in at a similar clip. Non-GAAP income before income taxes as a percentage of sales fell 93 basis points, however. Non-GAAP net income fell 2%, while non-GAAP earnings per diluted share was roughly flat on a year-over-year basis. Total debt was $1.5 billion at the end of the quarter, while cash and cash equivalents were $1.2 billion. Management had the following to say about the results: We are very pleased with our strong Q2 results. Our performance shows how well our long-term strategies are working, the … Read more

Dividend Increases/Decreases for the Week of September 12

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Below we provide a list of firms that raised their dividends during the week ending September 12. 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                          AGNC Investment Corp. 6.5% DP SH PFD E (AGNCO): now $0.6115 per share quarterly dividend, was $0.6013. AGNC Investment Corp. 6.875 DEP REP D (AGNCM): now $0.5693 per share quarterly dividend, was $0.5595. AGNC Investment Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (AGNCN): now $0.6191 per share quarterly dividend, was $0.6088. AGNC INVT 1000 DR REP 1 SRS F PRF (AGNCP): now $0.5926 per … Read more

Booking Holdings Expects Mid-Teens Adjusted EBITDA Growth in 2025

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Image Source: TradingView By Brian Nelson, CFA Booking Holdings (BKNG) recently reported second quarter results that came in better than expectations. Total revenue grew 16% in the quarter, while adjusted EBITDA advanced 28% and adjusted earnings per share increased 32%. Gross bookings were up 13%, while room nights advanced 8% year-over-year. Net cash provided by operating activities increased 27%, to $3.2 billion, while free cash flow increased 32%, to $3.1 billion. Booking Holdings ended the quarter with $18.2 billion in cash and long-term investments and $18.5 billion in short- and long-term debt. It repurchased $1.3 billion of stock in the quarter, with total remaining authorization of $24.6 billion. Management had the following to say about the results: We are pleased … Read more

Shares of Dividend Growth Idea Oracle Surge!

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Image Source: TradingView By Brian Nelson, CFA On September 9, Oracle (ORCL) reported fiscal first quarter 2026 results that came in below expectations, but the firm’s remaining performance obligations surged 359% year-over-year in both USD and constant currency, to $455 billion. Total revenue in the quarter was up 12% in USD and 11% in constant currency. Cloud revenues (IaaS plus SaaS) were up 27% in constant currency, to $7.2 billion, in the quarter. Cloud Infrastructure (IaaS) revenue increased 54% in constant currency, while Cloud Application (SaaS) revenue increased 10% in constant currency. Sales of Fusion Cloud ERP (SaaS) were up 16% in constant currency in the quarter, while sales of NetSuite Cloud ERP (SaaS) were up 15% in constant currency. … Read more