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Recent Articles
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FactSet Research Reveals Softness on Top Line
Jun 24, 2024
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Image: FactSet’s shares have been choppy the past couple years.
On June 21, FactSet Research reported mixed third-quarter fiscal 2024 results that showed revenue increasing 4.3%, in-line with expectations, and adjusted diluted earnings per share of $4.37, up 15.3% from last year’s quarter and better than what the Street was looking for. Quarterly free cash flow was $216.9 million, up 12.6%. FactSet’s recent 6% dividend increase marked the 25th consecutive year the firm has raised its dividend on a stock split-adjusted basis. Shares yield ~1%.
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CarMax Dealing with Vehicle Affordability Issues
Jun 21, 2024
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Image: CarMax’s shares have yet to recover from prior year highs.
CarMax’s quarter wasn’t great, and while industry trends are improving, stiff headwinds are still prevalent. We remain on the sidelines with respect to shares.
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Dividend Increases/Decreases for the Week of June 21
Jun 21, 2024
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Let's take a look at firms raising/lowering their dividends this week.
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Kroger’s Identical Store Sales Beat Consensus
Jun 20, 2024
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Image: Kroger’s shares have been choppy during the past couple years.
Kroger reaffirmed its full-year 2024 guidance. The company expects identical-store without fuel of 0.25%-1.75%, adjusted FIFO operating profit of $4.6-$4.8 billion and adjusted net earnings per diluted share of $4.30-$4.50. Adjusted free cash flow is targeted in the range of $2.5-$2.7 billion on capital expenditures of $3.4-$3.6 billion for the year. Kroger ended the quarter with ~$12.2 billion in debt and $345 million in cash. All things considered, we liked Kroger’s report, but uncertainties regarding its deal with Albertsons coupled with a large net debt position leave us on the sidelines. Shares yield ~2.2% at the time of this writing.
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