Risk/Reward archive
GE Vernova (GEV) posted 26Q2 revenues of $11.1 billion, up 21.9% YOY. Operating income surged 72.8% to $655 million, driven by revenue growth and higher margins at Power and Electrification, which more than offset a modestly wider loss…
Continue reading →26Q2 revenue was $13.3 billion, up 21.1% over 25Q2. Commercial Engine & Services (CES) revenue rose 21.8%, while Defense & Propulsion Technologies (DPT) revenues were up 34.3%. CES segment profit jumped 19.0%, with a 60 bp decline in…
Continue reading →26Q1 Non-GAAP EPS Beats Consensus. Lowering PT to $24 after Sell-Off but Raising Rating to Buy. AT&T reported 26Q1 GAAP EPS of $0.55, compared with $0.61 in the prior year period. Non-GAAP EPS of $0.55 was up from…
Continue reading →HPE reported 26Q1 GAAP EPS of $0.32 vs. 25Q1’s EPS of $0.27 and my estimate of $0.40. Net revenue increased 18.4% to $9.3 billion primarily because of the Juniper Networks acquisition. On a normalized basis, including Juniper’s pre-acquisition…
Continue reading →Spire reported 26Q1 GAAP EPS of $1.54, better than 25Q1’s EPS of $1.34. Non-GAAP, adjusted EPS was $1.77 vs. $1.34. I had projected a GAAP and Adjusted EPS of $1.77. By segment, Gas Utility’s adjusted earnings were $103.9…
Continue reading →26Q1 GAAP diluted loss per share was $1.22 and net financial earnings per basic share (NFEPS), a non-GAAP measure, was $1.17. That compares with 25Q1’s GAAP diluted EPS of $1.31 and net financial earnings per basic share of…
Continue reading →Matthews International Corporation (MATW) reported 26Q1 revenues of $284.8 million, down 29.1%. Nearly all of the decline was due to divestitures, especially the sale of SGK Solutions last May. Sales at its Memorialization business rose 7.2%, due to…
Continue reading →AWK reported 25Q3 EPS of $1.94, up from $1.80 in 24Q3 and exceeding my estimate of $1.91. Operating revenues rose 9.7% to $1.45 billion. Billed water service volumes dropped 1.0% and estimated average prices increased 10.6%. Operating and…
Continue reading →Public Service Enterprise Group (PEG) reported 25Q3 operating revenues of $3.23 billion, up 22.1% from 24Q3, due once again to base rate increases which more than offset modest volume declines. Diluted GAAP EPS was $1.24 vs. $1.03 last…
Continue reading →Pfizer (PFE) reported 25Q3 revenues of $16.7 billion, down 5.9% from 24Q3 and 6.3% below my estimate. All of the decline was due to declines in COMIRNATY and PAXLOVID, the COVID-19 medicines, compared with both prior year levels…
Continue reading →25Q3 sales rose 3.7% to $17.3 billion, exceeding my estimate by 3.9%. The revenue beat was due mostly to higher than anticipated sales of GARDASIL. Although GARDASIL sales were down 24% YOY, they were up 55% sequentially, breaking…
Continue reading →25Q3 net revenue rose 2.8% to $12.2 billion, as an 18.0% rise in the growth portfolio more than offset an 11.8% decline in the legacy portfolio. Dollar sales gains in Eliquis, Opdivo, Reblozyl, Camzyos and Breyanzi were partially…
Continue reading →GEHC reported 25Q3 revenues of $5.14 billion, up 5.7% YOY and 2.9% above my estimate. Revenues rose 20.0% in Pharmaceutical Diagnostics (PDx), 7.0% in Advanced Visual Solutions, 5.4% in Imaging, but fell 6.2% in Patient Care Solutions (PCS). …
Continue reading →BKR reported 25Q3 GAAP diluted EPS of $0.61 vs. 24Q3’s $0.77 and my estimate of $0.66. Net income was lower than expected due to transaction-related costs and a negative swing in the fair value of equity securities (Abu…
Continue reading →AT&T reported 25Q3 GAAP EPS of $1.29, compared with a loss of $0.03 in the prior year period. Non-GAAP EPS of $0.54 was down from $0.60. I had projected GAAP EPS of $0.86 and non-GAAP EPS of $0.65.
Continue reading →25Q3 revenue was $12.2 billion, up 23.8% over 24Q3. Commercial Engine & Services (CES) revenue rose 26.8%, while Defense & Propulsion Technologies (DPT) was up 26.1%. CES segment profit jumped 26.1%, with a 170 bp rise in margin…
Continue reading →GE Vernova (GEV) posted 25Q3 revenues of $10.0 billion, up 11.8% YOY. Operating income swung from a loss of $359 million to a profit of $366 million, primarily due to a $300 million favorable swing at Wind, and…
Continue reading →RGC Resources, Inc. (RGCO) is a holding company whose subsidiaries include Roanoke Gas Company (Roanoke Gas) and RGC Midstream, LLC (Midstream). Originally established in 1883, Roanoke Gas is a regulated gas utility that distributes and sells natural gas…
Continue reading →HPE reported 25Q3 GAAP EPS of $0.21 vs. 24Q3’s income of $0.24. Net revenue increased 18.5% to $9.1 billion (or 17.7% on a constant currency basis). The increase was due to higher average unit prices in the Server…
Continue reading →The Campbell’s Company (CPB) reported 25Q4 diluted GAAP EPS of $0.48, compared with last year’s loss of $0.01 and my estimate of $0.53. The shortfall was due mostly to lower than expected net sales, as sales volumes declined…
Continue reading →Matthews International Corporation (MATW) reported 25Q3 revenues of $349.4 million, down 18.3%. Most of the decline was due to the sale of SGK Solutions, which was completed in May. Sales at its Memorialization business rose 0.5%, due to…
Continue reading →Spire reported 25Q3 GAAP EPS of $0.29, reversing last year’s 24Q2’s loss of $0.28. Non-GAAP, net economic EPS (NEEPS) was $0.01 vs. a loss of $0.14. I had projected a GAAP and NEEPS loss of $0.08. By segment,…
Continue reading →Public Service Enterprise Group (PEG) reported 25Q2 operating revenues of $2.81 billion, up 15.8% from 24Q2, due to base rate increases which more than offset volume declines. Diluted GAAP EPS was $1.17 vs. $0.87 last year. My GAAP…
Continue reading →25Q3 GAAP diluted loss per share was $0.15 and net financial earnings per basic share (NFEPS), a non-GAAP measure, was $0.06. That compares with 24Q3’s GAAP loss per share of $0.12 and net financial loss per share of…
Continue reading →AWK reported 25Q2 EPS of $1.48, up from $1.42 in 24Q2 and matching my estimate of $1.48. Operating revenues rose 11.1% to $1.28 billion. Billed water service volumes dropped 3.8% and estimated average prices increased 14.8%. Military and…
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