Brian Nelson

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

Taiwan Semiconductor Expects Strong Growth in 2025

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Image: Taiwan Semiconductor’s shares have done well the past few years. By Brian Nelson, CFA Taiwan Semiconductor (TSM) recently announced first quarter earnings that came in better than expected. First quarter revenue increased 41.6% year-over-year, while net income and diluted earnings per share advanced 60.3% and 60.4%, respectively. Consolidated revenue was NT$839.25 billion ($25.53 billion), net income came in at NT$361.56 billion, while diluted earnings per share was NT$13.94 (US$2.12 per ADR unit). Gross margin for the first quarter was 58.8%, operating margin was 48.5%, and net profit margin was 43.1%. Management had the following to say about the quarter: Our business in the first quarter was impacted by smartphone seasonality, partially offset by continued growth in AI-related demand. Moving … Read more

Dividend Increases/Decreases for the Week of June 6

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Below we provide a list of firms that raised their dividends during the week ending June 6. 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                          Autolive (ALV): now $0.85 per share quarterly dividend, was $0.70. Banco Bradesco (BBD): now $0.0032 per share monthly dividend, was $0.0022. Brookfield Corporation PFD CL A SR 42 (BN.PF.G:CA): now CAD 0.35 per share quarterly dividend. Consolidated Water (CWCO): now $0.14 per share quarterly dividend, was $0.11. Essential Properties (EPRT): now $0.300 per share quarterly dividend, was $0.295. Genpact (G): now $0.17 per share … Read more

Home Depot Expects Modest Sales Growth in 2025

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Image: Home Depot’s shares have been choppy the past few years. By Brian Nelson, CFA Home Depot (HD) recently reported mixed first quarter results with revenue coming in higher than expectations, but non-GAAP earnings per share coming up a bit light relative to consensus. Sales during the first quarter advanced 9.4%, but comparable store sales fell 0.3%, despite increasing 0.2% in the U.S. Net earnings fell to $3.43 billion from $3.6 billion in the year-ago period. Adjusted diluted earnings per share for the first quarter was $3.56 compared with $3.67 in last year’s quarter. Management had the following to say about the quarter: Our first quarter results were in line with our expectations as we saw continued customer engagement across … Read more

Dollar General Raises Guidance Despite Tariff Uncertainty

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Image: Dollar General’s shares have been under pressure the past few years. By Brian Nelson, CFA On June 3, Dollar General (DG) reported better than expected first quarter results, with both revenue and GAAP earnings per share exceeding the consensus forecast. Net sales advanced 5.3%, to $10.4 billion, while same-store sales growth came in at 2.4%, reflecting a 2.7% increase in average transaction and a 0.3% decline in customer traffic. Operating profit increased 5.5%, while diluted earnings per share increased 7.9%, to $1.78. Cash flow from operations increased 27.6%, to $847.2 million. Management had the following to say about the quarter: We are pleased with our start to the year, including strong same-store sales and EPS results. Our efforts to … Read more