Commentary and analysis
Independent perspectives on companies, industries, investment sectors, and financial markets.
HPE reported 24Q4 GAAP diluted EPS of $0.99 vs. 23Q4’s $0.49. Non-GAAP EPS was $0.58 vs. $0.52. Net revenue of $8.46 billion rose 15.1% vs. last year and exceeded my estimate of $8.25 billion. GAAP EPS was above…
Continue reading →The Campbell’s Company (CPB) reported 25Q1 diluted GAAP EPS of $0.72, compared with last year’s $0.78. Non-GAAP EPS of $0.89 was below last year’s $0.91, but ahead of my estimate of $0.82. Net sales were $2.77 billion, up…
Continue reading →24Q4 GAAP diluted loss per share was $0.91 and net financial earnings per basic share (NFEPS), a non-GAAP measure, was $0.89. That compares with 23Q4 GAAP EPS of $0.38 and NFEPS of $0.30. I had projected GAAP EPS…
Continue reading →Spire reported a 24Q4 GAAP loss of $0.51 per share, better than 23Q4’s $0.66 loss. Its non-GAAP, net economic loss per share (NEEPS) was $0.54, also improved over 23Q4’s $0.78 loss, but worse than my $0.41 loss estimate. …
Continue reading →Mistras Group reported 24Q3 EPS of $0.20 vs. 23Q3’s loss of $0.34 and my estimate of $0.24. Revenues of $182.7 million were up 1.9%, as a 3.6% decline in Mistras’s largest segment, Oil & Gas, was more than…
Continue reading →24Q3 sales rose 4.3% to $16.7 billion. Excluding currency, sales rose 7%. Once again, a double-digit gain in KEYTRUDA sales more than offset declining sales in the rest of the portfolio. GAAP diluted EPS was $1.24, below 23Q3’s…
Continue reading →Pfizer (PFE) reported 24Q3 revenues of $17.7 billion, up 33.8% from 23Q3, and 13% above my estimate. The key driver of the revenue beat came from Paxlovid, which posted sales of $2.7 billion, beating my estimate of $400…
Continue reading →Public Service Enterprise Group (PEG) reported 24Q3 operating revenues of $2.64 billion, up 7.6% from 23Q3. Diluted GAAP EPS was $1.03 vs. $0.27 last year. 24Q3 operating income rose 16%, but most of the gain vs. the prior…
Continue reading →24Q3 net revenue rose 8.4% to $11.9 billion, with gains in Eliquis, Reblozyl, Breyanzi and Opdivo as well as other medicines from BMY’s growth portfolio more than offsetting an LOE-related decline in Sprycel. Growth portfolio net revenues rose…
Continue reading →24Q3 revenues were $1.58 billion, up 4.1% year-over-year and up 5% at constant currency. GAAP diluted EPS was $1.38, compared with 23Q3’s $0.23, but above my estimate of $0.63. Non-GAAP EPS of $0.87 was even with last year,…
Continue reading →AWK reported 24Q3 EPS of $1.80, up from $1.66 in 23Q3 and above my estimate of $1.67. Operating revenues rose 13.4% to $1.32 billion. Water and wastewater revenues increased 11.3%, with billed water service volumes up 2.8% and…
Continue reading →GEHC reported 24Q3 revenues of $4.86 billion, up 0.9% YOY and matching my estimate of $4.90 billion. Revenues were flat, except Life Support Solutions (within the PCS segment), where sales rose 16.8%, and the PDx segment, up 12.5%. …
Continue reading →AT&T reported a 24Q3 GAAP loss of $0.03 per share, reversing last year’s $0.48 profit and falling short of my $0.56 estimate. The loss was entirely due to a $4.4 billion impairment charge taken against its Business Wireline…
Continue reading →BKR reported 24Q3 GAAP diluted EPS of $0.77 vs. 23Q3’s $0.51 and my estimate of $0.63. Non-GAAP EPS was $0.67, compared with $0.42 last year and my estimate of $0.65. Revenues of $6.9 billion rose 4.0% vs. 23Q3,…
Continue reading →GE Vernova (GEV) reported a 24Q3 GAAP diluted loss per share of $0.35 compared with 23Q3’s pro forma loss of $0.62. This quarter saw a big increase in SG&A from standalone corporate and higher restructuring costs. Excluding those…
Continue reading →GE Aerospace reported 24Q3 revenues of $9.8 billion, up 5.8% vs. the prior year; GAAP EPS from continuing operations was $1.56, compared with 23Q3’s $0.20; and non-GAAP EPS was $1.15 vs $0.92. Results exceeded my estimates of $1.18…
Continue reading →Spire Inc. (NYSE:SR) is a public utility holding company based in St. Louis, MO. The company operates in three segments: Gas Utility, Gas Marketing and Midstream. Its Gas Utility segment accounts for 93% of Spire’s operating revenues and…
Continue reading →Campbell Soup Company (CPB) reported 24Q4 diluted GAAP loss per share of $0.01, compared with last year’s profit of $0.41. Non-GAAP EPS of $0.63, above last year’s $0.50, and matching my estimate of $0.63. Net sales were $2.39…
Continue reading →HPE reported 24Q3 GAAP diluted EPS of $0.38, above 23Q3’s $0.35. Non-GAAP EPS was $0.50 vs. $0.49 last year. Net revenue of $7.71 billion rose 10.1% vs. the previous year. Results exceeded my estimates of $7.60 billion in…
Continue reading →Stocks logged another month of gains in August, but once again September, it has started off with a sharp sell-off.
Continue reading →GE Aerospace reported 24Q2 revenues of $9.1 billion, up 3.9% year-over-year; GAAP EPS from continuing operations was $1.20, compared with 23Q2’s $1.09; and non-GAAP EPS was $1.20 vs $0.74. The mean estimates of analysts were $8.6 billion for…
Continue reading →Toll Brothers’ 24Q3 EPS was $3.60, down 3.5% from 23Q3’s $3.73. My estimate was $3.18. Consensus was $3.31. Deliveries of 2,814 units increased 11.5% YOY. The average sales price per unit fell 8.6% to $968,200. Adjusted gross margin…
Continue reading →Last year at this time, when I last wrote about DHC, the Trust had proposed to merge with another RMR Group affiliate, Office Properties Income Trust (OPI). That merger proposal was scuttled by opposing DHC shareholders.
Continue reading →Citius Pharmaceuticals (CTXR) posted a 24Q3 loss of $10.9 million or $0.06 per share, matching my estimate. R&D expense fell by $1.0 million or 26.6% vs. the prior year, while general & administrative expense increased $1.1 million or…
Continue reading →24Q3 GAAP diluted loss per share was $0.12 and net financial loss per basic share, a non-GAAP measure, was $0.09. That compares with 23Q3 GAAP EPS of $0.02 and net financial earnings per share (NFEPS) of $0.10. I…
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