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Recent Articles
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UPS Returns to Revenue and Profit Growth
Oct 25, 2024
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Image: UPS’ shares have been under pressure the past couple years.
For the first nine months of the year, UPS hauled in $6.8 billion in operating cash flow and generated free cash flow of $4 billion. For full year 2024, UPS is targeting consolidated revenue of approximately $91.1 billion (was $93 billion), while it now expects its consolidated non-GAAP adjusted operating margin to be roughly 9.6% (was 9.4%). For the year, capital expenditures are targeted at $4 billion, while dividend payments are expected to be around $5.4 billion. Shares yield 4.7% at the time of this writing.
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IBM Targeting $12+ Billion in 2024 Free Cash Flow
Oct 25, 2024
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Image: Shares of IBM are flirting with record highs.
IBM continues to expect to generate more than $12 billion in free cash flow for 2024 and for fourth-quarter constant currency revenue growth to be consistent with its most recently reported third quarter. IBM ended the third quarter with $13.7 billion in cash and marketable securities versus debt, including financing debt, of $56.6 billion. Though IBM has a large net debt position, we’re generally positive on its dividend given free cash flow coverage. Shares yield 3% at the time of this writing.
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Dividend Increases/Decreases for the Week of October 25
Oct 25, 2024
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Let's take a look at firms raising/lowering their dividends this week.
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Coca-Cola’s Organic Growth Shines in Third Quarter
Oct 24, 2024
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Image: Coca-Cola’s shares have done quite well the past couple years.
Coca-Cola’s organic growth continues to be impressive, and the firm’s non-GAAP numbers show expansion in the core business. Still, it’s hard for us to get excited about a company reporting unadjusted net revenue declines, with global unit case volume also declining in the period. We think Coca-Cola retains its place as a top blue chip stock, but we think there are better ideas for consideration in the newsletter portfolios. Our fair value estimate stands at $61 per share.
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