Brian Nelson

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

Vertex Reports Strong Q2, Trial Setback Punishes Shares

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Image Source: TradingView By Brian Nelson, CFA On August 4, Vertex Pharma (VRTX) reported strong second quarter results with both revenue and non-GAAP earnings per share coming in better than expected. The solid performance, however, was overshadowed by a disappointment in its pipeline for pain management: Vertex announced results from its Phase 2 placebo-controlled dose-ranging study evaluating the safety and efficacy of VX-993, an investigational selective NaV1.8 pain signal inhibitor, in treating acute pain after bunionectomy surgery. Treatment with VX-993 did not result in a statistically significant improvement on the primary endpoint of the time-weighted sum of the pain intensity difference from 0 to 48 hours (SPID48) compared to placebo. VX-993 was generally safe and well-tolerated. Based on these results, … Read more

Amazon’s Third Quarter Operating Income Guidance Conservative

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Image Source: TradingView By Brian Nelson, CFA Amazon (AMZN) reported better than expected second quarter results on July 31 that came in ahead of the consensus forecasts on both the top and bottom lines. Net sales increased 12%, excluding foreign exchange impacts, as North America segment sales increased 11%, international segment sales increased 11% (excluding foreign exchange), while AWS segment sales increased 17.5%, to $30.9 billion, the latter modestly better than expected. On a reported basis, net sales totaled $167.7 billion, beating the consensus forecast by nearly $5.6 billion. Operating income increased to $19.2 billion in the second quarter compared to $14.7 billion in the second quarter of 2024, better than the company’s guidance range of $13-$17.5 billion and consensus … Read more

The Risks to Apple Are Increasing

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Image Source: TradingView By Brian Nelson, CFA On July 31, Apple (AAPL) reported better than expected fiscal third quarter results with revenue and GAAP earnings per share coming in ahead of the consensus forecast. The iPhone maker reported quarterly revenue of $94 billion, up 10% year-over-year and better than the Street’s forecast of $89.16 billion, while operating income jumped to $28.2 billion from $25.4 billion in last year’s quarter. Quarterly diluted earnings per share came in at $1.57, up 12% year-over-year and better than consensus of $1.43. Management was upbeat in the press release: Today Apple is proud to report a June quarter revenue record with double-digit growth in iPhone, Mac and Services and growth around the world, in every … Read more

Meta Platforms Issues Third Quarter Revenue Guidance Well Above Consensus

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Image: Meta’s free cash flow remains robust despite higher capital spending. By Brian Nelson, CFA On July 30, Meta Platforms (META) reported blockbuster second quarter results with revenue and GAAP earnings per share exceeding the consensus forecast. Revenue grew 22% on a year-over-year basis, to $47.5 billion (consensus was $44.8 billion) while costs and expenses rose at a more modest 12% rate in the quarter, driving a 38% increase in income from operations. Meta’s operating margin rose roughly 5 percentage points, to 43%. Net income increased 36% in the quarter, while diluted earnings per share rose 38%, to $7.14 (consensus was $5.90). Meta’s family daily active people (DAP) on average for June 2025 increased 6%. Ad impressions delivered across its … Read more