Brian Nelson

J.M. Smucker Sets Fiscal 2026 Earnings Outlook Below Consensus

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Image: J.M. Smucker’s shares have been under pressure of late. By Brian Nelson, CFA J.M. Smucker (SJM) recently reported fourth quarter fiscal 2025 results with revenue missing the mark, while non-GAAP earnings per share beat expectations. In the quarter, net sales for the quarter excluding divestitures and foreign currency exchange fell 1%, while adjusted earnings per share came in at $2.31, better than $2.25 consensus but representing a decline of 13% versus the same period a year ago. Cash provided by operations for the quarter was $393.9 million compared to $428.1 million in the prior-year period. Free cash flow was $298.9 million for the quarter. Management had the following to say about the results: Our fourth quarter and full-year results … Read more

Realty Income’s Monthly Dividend Is Durable

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Image Source: Realty Income By Brian Nelson, CFA Realty Income (O) recently reported mixed first quarter results that showed revenue beating the consensus estimate but funds from operations coming up a bit short relative to forecasts. Adjusted funds from operations increased 2.9%, to $1.06 per share, in the quarter, up from $1.03 per share in last year’s period, while the company invested $1.4 billion at an initial weighted average cash yield of 7.5% in the first quarter. Net debt to annualized proforma adjusted EBITDAre was 5.4x at the end of the quarter. Management had the following to say about the results: Realty Income’s ability to deliver reliable and stable performance through varying market conditions continues to be a hallmark of … Read more

Johnson & Johnson Remains an Innovation Powerhouse

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Image Source: Johnson & Johnson By Brian Nelson, CFA Johnson & Johnson (JNJ) recently reported first quarter results that showed revenue and non-GAAP earnings per share exceeding the consensus forecast. First quarter reported sales growth was 2.4%, with operational growth of 4.2% and adjusted operational growth of 3.3%. First quarter earnings per share increased to $4.54, while adjusted earnings per share advanced 2.2%, to $2.77. Management had the following to say about the results: The power of Johnson & Johnson’s uniquely diversified portfolio was on full display this quarter, with strong operational sales growth reinforcing our confidence in 2025 guidance. During the quarter, we fortified our position as an innovation powerhouse with major advancements across our pipeline, including TREMFYA in … Read more

Dividend Increases/Decreases for the Week of June 20

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Below we provide a list of firms that raised their dividends during the week ending June 20. 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                          Acme United (ACU): now $0.16 per share quarterly dividend, was $0.15. AG Mortgage Investment Trust (MITT): now $0.21 per share quarterly dividend, was $0.20. Artis Real Estate Investment Trust PFD SER E (AX.PR.E:CA): now CAD 0.4498 per share quarterly dividend, was CAD 0.0450. ATN International (ATNI): now $0.275 per share quarterly dividend, was $0.240. Canlan Ice Sports (ICE:CA): now $0.50 per share special dividend, … Read more

Lennar Sees Softness in Housing Market

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Image Source: TradingView By Brian Nelson, CFA On June 16, Lennar Corp. (LEN) reported mixed fiscal second quarter results with revenue beating the consensus forecast but non-GAAP earnings per share missing the consensus mark. Total revenues fell to $8.4 billion in the quarter from $8.8 billion in the year-ago period, while second quarter net earnings, excluding mark-to-market losses on technology investments were $499 million, or $1.90 per share, compared to $3.38 per share in the same period a year ago. Management had the following to say about the results: While we continue to see softness in the housing market due to affordability challenges and a decline in consumer confidence, we adhered to our strategy of driving starts, sales, and closings … Read more

Adobe Raises Guidance Due to AI Strength

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Image: Adobe’s stock has been choppy the past few years. By Brian Nelson, CFA Adobe Inc. (ADBE) recently reported strong second quarter fiscal 2025 results. The company posted record revenue of $5.87 billion in the fiscal second quarter, representing 11% year-over-year growth in reported and in constant currency and better than the consensus forecast of $5.8 billion. Non-GAAP operating income was $2.67 billion, up from $2.44 billion in last year’s quarter, while non-GAAP net income was $2.17 billion, up from $2.02 billion in the same period a year ago. On a non-GAAP basis, diluted earnings per share was $5.06 versus $4.48 per share in last year’s period and better than the consensus forecast of $4.97 per share. Management had the … Read more

Dividend Increases/Decreases for the Week of June 13

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Below we provide a list of firms that raised their dividends during the week ending June 13. 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 $0.6013 per share quarterly dividend, was $0.5976. AGNC Investment Corp. 6.875 DEP REP D (AGNCM): now $0.5595 per share quarterly dividend, was $0.5563. AGNC Investment Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (AGNCN): now $0.6088 per share quarterly dividend, was $0.6050. AGNC INVT 1000 DR REP 1 SRS F PRF (AGNCP): now $0.5826 per … Read more

Oracle Expects Accelerated Growth in Fiscal 2026

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Image: Oracle’s shares have broken out to new all-time highs. By Brian Nelson, CFA On June 11, Oracle (ORCL) reported better than expected fourth quarter fiscal 2025 results with revenue and non-GAAP earnings per share exceeding the consensus forecasts. Total revenue was up 11% in the quarter, while the company posted non-GAAP earnings per share of $1.70, up from $1.63 in last year’s quarter and better than the consensus forecast of $1.64. Non-GAAP operating income was $7.0 billion, up 5% in USD and up 4% in constant currency. Fourth quarter remaining performance obligations jumped 41%, to $138 billion. Operating cash flow was $20.8 billion during fiscal year 2025, up 12% in USD. Management had the following to say about the … Read more

Salesforce Raises Full Year Revenue Guidance, Announces Plans to Acquire Informatica

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Image: Salesforce’s shares have been choppy the past few years. By Brian Nelson, CFA Salesforce (CRM) recently reported better than expected first quarter fiscal 2026 results with revenue and non-GAAP earnings per share exceeding the respective consensus forecasts. First quarter revenue was $9.8 billion, up 8% year-over-year, with current remaining performance obligations advancing 12% year-over-year (11% in constant currency), to $29.6 billion. First quarter GAAP operating margin was 19.8%, while non-GAAP operating margin came in at 32.3%. Non-GAAP diluted net income per share was $2.58 versus $2.44 in the same period last year. Management had the following to say about the quarter: We delivered strong Q1 results and are raising our guidance by $400 million to $41.3 billion at the … Read more

Broadcom Is a Cash Cow

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Image: Broadcom’s shares have done quite well the past few years. By Brian Nelson, CFA On June 5, Broadcom (AVGO) reported second quarter fiscal 2025 results that came in better than expected on both the top and bottom lines. Revenue increased 20% from the same period a year ago, to $15 billion, while non-GAAP net income came in at $7.8 billion, up from $5.4 billion in the same period last year. Adjusted EBITDA of $10 billion was 67% of revenue and better than the $7.4 billion achieved in last year’s quarter. Non-GAAP diluted earnings per share was $1.58 for the second quarter versus $1.10 in last year’s quarter. Management had the following to say about the quarter: Broadcom achieved record … Read more