Brian Nelson

AT&T Is Targeting Free Cash Flow in the Low-to-Mid $16 Billion Range for 2025

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Image Source: TradingView By Brian Nelson, CFA AT&T (T) recently reported second quarter results that came in better than expectations. Revenue came in at $30.8 billion versus $29.8 billion in last year’s quarter thanks to strength in mobility and consumer wireline revenue, while adjusted diluted earnings per share were $0.54 versus $0.51 in the year-ago period. Consensus was at $0.53 per share. Adjusted operating income came in at $6.5 billion versus $6.3 billion in same period last year, while net income was $4.9 billion versus $3.9 billion in the year-ago period and adjusted EBITDA was $11.7 billion versus $11.3 billion in the year-ago quarter. Cash flow from operating activities was $9.8 billion in the quarter, while free cash flow, excluding … Read more

Nvidia Shines in Second Quarter of Fiscal 2026

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Image Source: Nvidia By Brian Nelson, CFA On August 27, market darling Nvidia (NVDA) reported better than expected fiscal second quarter results with both revenue and non-GAAP earnings per share coming in ahead of the consensus forecast. Total revenue increased 56% from the year-ago period, to $46.74 billion (consensus was at $46.13 billion), with Data Center revenue of $41.1 billion advancing by a similar clip, the latter coming in slightly below the consensus estimate of $41.29 billion. In the quarter, GAAP and non-GAAP gross margins were 72.4% and 72.7%, respectively. GAAP and non-GAAP earnings per diluted share were $1.08 and $1.05, respectively. Consensus was at $1.01. Blackwell Data Center revenue increased 17% on a sequential basis, and there were no … Read more

Dividend Increases/Decreases for the Week of August 22

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Below we provide a list of firms that raised their dividends during the week ending August 22. 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                          Altria (MO): now $1.06 per share quarterly dividend, was $1.02. American Financial (AFG): now $0.88 per share quarterly dividend, was $0.80. Automotive Properties Real Estate Investment Trust (APR.UN:CA): now CAD 0.0685 per share monthly dividend, was CAD 0.0670. Avnet (AVT): now $0.35 per share quarterly dividend, was $0.33. Bank7 (BSVN): now $0.27 per share quarterly dividend, was $0.24. Bay Commercial Bank (BCML): now $0.25 … Read more

Walmart Raises Outlook for Fiscal 2026

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Image Source: Walmart By Brian Nelson, CFA On August 21, Walmart (WMT) reported disappointing second quarter results that showed a beat on the top line, but a miss when it came to non-GAAP earnings per share. Revenue growth was 4.8% on a year-over-year basis, up 5.6% in constant currency. Walmart U.S. comp sales were up 4.6% (consensus was 4.1%), with strong growth in grocery and health & wellness. Operating income, however, decreased 8.2%, and up only a marginal 0.4% on an adjusted basis (constant currency). Adjusted non-GAAP earnings per share of $0.68 missed estimates by $0.06. On a global basis, eCommerce expanded 25% led by store-fulfilled pickup & delivery and marketplace. Management had the following to say about the results: … Read more

Home Depot’s Comps Turn Positive in Second Quarter

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Image Source: TradingView By Brian Nelson, CFA On August 19, Home Depot (HD) reported mixed second-quarter results with revenue coming in-line with expectations and non-GAAP earnings per share missing the consensus forecast slightly. Total sales came in at $45.3 billion, up 4.9% year-over-year, while the company’s comparable sales for the second quarter increased 1% (comparable sales in the U.S. increased 1.4%), up from a decline of 3.3% in last year’s quarter. Adjusted diluted earnings per share for the second quarter of fiscal 2025 were $4.68, up modestly from the same period last year. Here’s what management had to say about the quarter: Our second quarter results were in line with our expectations. The momentum that began in the back half … Read more

Phillips 66’s 2027 Strategic Priorities Look Achievable

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Image Source: Phillips 66 By Brian Nelson, CFA Phillips 66 (PSX) recently reported second quarter results that came in better than expected on both the top and bottom lines. The company reported adjusted earnings of $973 million or $2.38 per share, above the consensus forecast. Phillips 66 operated at 98% capacity utilization in Refining with 86% clean product yield. As for dealings, the firm completed its acquisition of EPIC NGL (Coastal Bend) and sold a 65% interest in its Germany and Austria retail marketing business. Excluding working capital, it generated $1.9 billion in net operating cash flow as it returned $906 million to shareholders through dividends and buybacks. Here’s what management had to say about the results: Phillips 66 delivered … Read more

Cisco Systems Reports Strong Fiscal Fourth Quarter

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Image Source: TradingView By Brian Nelson, CFA On August 13, Cisco Systems (CSCO) reported better than expected fiscal fourth quarter results, with both revenue and non-GAAP earnings per share coming in ahead of consensus. Fiscal fourth quarter revenue was up 8% year-over-year, to $14.7 billion, while fiscal fourth quarter product orders advanced 7% year-over-year, with expansion across all geographies. Non-GAAP gross margin came in at 68.4% at the high end of its guidance range, while non-GAAP earnings per share of $0.99 was up 14% year-over-year, above the high end of its guidance range. Management had the following to say about the results and outlook: We delivered a strong close to fiscal 2025, driven by our accelerated innovation and solid execution. … Read more

Dividend Increases/Decreases for the Week of August 15

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Below we provide a list of firms that raised their dividends during the week ending August 15. 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                          Atmus Filtration (ATMU): now $0.055 per share quarterly dividend, was $0.050. Cboe Global Markets (CBOE): now $0.72 per share quarterly dividend, was $0.63. Badger Meter (BMI): now $0.40 per share quarterly dividend, was $0.34. Barrick (B): now $0.15 per share quarterly dividend, was $0.10. Centrais Elétricas Brasileiras S.A. – Eletrobrás (EBR): now $0.3219 per share dividend, was $0.1575. Dover (DOV): now $0.520 per share … Read more

McDonald’s Returns to Positive Comparable Sales Growth

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Image Source: Valuentum By Brian Nelson, CFA On August 6, McDonald’s (MCD) reported strong second quarter results with both revenue and non-GAAP earnings per share coming in ahead of the consensus forecast. Global comparable sales increased 3.8% (versus 2.5% consensus) with broad-based growth across all segments. U.S. comparable sales growth increased 2.5% in the U.S. (versus 2.3% consensus and a -3.6% mark in the first quarter of this year), while it increased 4% in International Operated Markets (versus 1.8% consensus) and 5.6% in International Developmental Licenses Markets (versus 3.6% consensus). Consolidated revenues increased 5% (4% in constant currencies), while systemwide sales increased 8% (6% in constant currencies). Management had the following to say about the results: Our 6% global Systemwide … Read more

Public Storage Raises Outlook

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Image Source: Public Storage By Brian Nelson, CFA On July 30, Public Storage (PSA) reported mixed second quarter results with revenue coming in a bit light relative to Street forecasts, while funds from operations beat consensus. Net income allocable to common shareholders was $1.76 per diluted share, while core FFO allocable to common shareholders was $4.28 per diluted share. The storage giant achieved 78.8% same store direct net operating income margin in the period. Public Storage acquired sixteen self-storage facilities in the quarter with 1.1 million net rentable square feet and opened two newly developed facilities and completed various expansion projects, which combined added 0.2 million net rentable square feet. Management had the following to say about the results and … Read more