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Recent Articles
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Oracle Puts Up Huge Revenue Growth Number in Second Quarter Fiscal 2023 Results
Dec 13, 2022
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Image: Trailing four-quarter free cash flow trends at Oracle are strong but lumpy. Image Source: Oracle.
On December 12, Oracle Corporation reported better than expected second quarter fiscal 2023 results for the three months ended November 30. Total revenue advanced 18% in the quarter on a year-over-year basis, leaping 25% in constant currency, thanks in part to strong performance at its infrastructure and application cloud businesses. Non-GAAP operating income increased 5%--and 12% in constant currency--and its non-GAAP operating margin was 41% in the period. Fiscal second-quarter non-GAAP earnings per share of $1.21 beat the consensus estimate, despite foreign currency headwinds. We liked that we saw in the quarterly results, and we’ll be sticking with the company as one of our best ideas.
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American Tower Ups Dividend Payout 6%+ But Shares Not Immune to REIT Sector Weakness
Dec 12, 2022
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Image Source: American Tower.
Cell tower operator American Tower raised its dividend more than 6% from its last payout in October, and while we like the payout growth momentum, we’re taking note of weakening AFFO and free cash flow trends. The REIT’s net debt position takes on greater prominence in the current rising interest rate environment, too, and its forward estimated dividend yield stands at just ~2.9%, about in line with traditional near-term rates on certificates of deposits. We’re watching deteriorating REIT economics closely.
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CubeSmart Raises Dividend 14% But We’re Monitoring High Net Debt Load and Deteriorating Occupancy Rates
Dec 12, 2022
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Image Source: CubeSmart.
CubeSmart announced a 14% increase in its dividend payout December 7. The REIT upped its guidance for earnings per share and adjusted FFO when it reported its third-quarter results last October but deteriorating occupancy rates and the impact of rising interest rates on the firm’s massive net debt position have us on alert. We continue to monitor these dynamics closely in light of the REIT’s weak share-price performance during 2022.
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Honeywell's ESG Efforts May Benefit from More Board Diversity and Moving Beyond Its Asbestos-Saddled Past
Dec 10, 2022
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Image: Honeywell continues to put together a long resume of ESG highlights. Image Source: Honeywell’s Environmental, Social and Governance Report.
Honeywell’s 100+ page Environmental Social and Governance Report for 2022 is a tremendous resource that indicates Honeywell means business when it comes to ESG-related efforts. The firm has a lot of work to do to get to carbon neutral by 2035, and we’d like to see a more diverse board and perhaps more reasonable compensation at the top, but the trajectory for ESG considerations at Honeywell is moving in the right direction. Prior asbestos-related issues weigh heavily on our ESG assessment of Honeywell, but we expect continued improvement across all areas of ESG in the years to come at the firm.
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