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Dividends

NOC

Northrop Grumman Corp (NYSE:NOC) reported a 9% year-over-year sales growth to $10.133 billion in Q1 fiscal 2024, surpassing consensus estimates. EPS rose to $6.32 from $5.50, beating expectations. The company highlighted robust defense spending and a strong backlog as key drivers of its positive outlook, including expected free cash flow growth. Segment sales and operating income saw increases, with notable awards including $3.1 billion for restricted programs. Despite a cash outflow, NOC plans to return over $2 billion to investors through dividends and share repurchases in 2024. The company reaffirmed its fiscal 2024 guidance, expecting sales between $40.8 billion and $41.2 billion and adjusted EPS of $24.45-$24.85.

Portfolio Pulse from Akanksha Bakshi

April 25, 2024 | 4:22 pm

STRA

Strategic Education Inc (NASDAQ:STRA) shares surged after reporting a 13.1% year-on-year sales growth to $290.3 million in Q1 2024, surpassing analyst estimates. Expenses decreased by 3.6%, and the company saw significant improvements in operating margin, adjusted EBITDA, and EPS. A quarterly dividend of $0.60 per share was declared, with the stock price rising by 11.9% to $112.62.

Portfolio Pulse from Shivani Kumaresan

April 25, 2024 | 4:21 pm

SAH

Sonic Automotive, Inc. (NYSE:SAH) shares surged over 10% after reporting Q1 adjusted earnings per share of $1.36, surpassing the expected $1.30. However, total revenues of $3.384 billion, a 3% decrease year-over-year, fell short of the $3.449 billion forecast. The company also reported a net income decline of 12% year-over-year to $42.0 million and a 14% decrease in EchoPark segment revenues. Despite these challenges, Sonic Automotive repurchased 0.5 million shares and announced a quarterly dividend of 30 cents per share, signaling confidence in its financial health and future prospects.

Portfolio Pulse from Nabaparna Bhattacharya

April 25, 2024 | 3:57 pm

DJD

DOW

RDIV

Dow Inc (NYSE:DOW) shares fell after reporting Q1 FY24 results with a 9% Y/Y sales decline to $10.77 billion, slightly above consensus. Adjusted EPS was $0.56, beating the $0.45 consensus. Despite local price drops and mixed regional performance, volume increased by 1% Y/Y. Operating EBIT declined to $674 million, but margins expanded. The company returned $693 million to shareholders and highlighted its strategic focus on long-term growth and sustainability. Exposure to DOW can also be gained through Invesco ETFs DJD and RDIV.

Portfolio Pulse from Lekha Gupta

April 25, 2024 | 3:55 pm

PCG

PG&E Corp announced a 5-year financing plan to fund $62B in safety and reliability capital expenditures, with no new equity in 2024, potential for substantial dividend growth, and up to $3B in equity needs from 2025-2028.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 3:24 pm

TMUS

T-Mobile has reaffirmed its plans to complete its remaining authorization for share repurchases and dividends by 2024. This move is part of the company's ongoing efforts to return value to shareholders and reflects confidence in its financial health and future prospects.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 1:11 pm

EQNR

ICOW

PWER

Equinor ASA (NYSE:EQNR) shares rose in premarket trading after reporting Q1 FY24 results with adjusted revenue of $24.79 billion, surpassing consensus estimates. The company saw a 2% increase in equity liquids production and a 48% increase in renewable energy production. However, equity gas production slightly fell by 1%, and operating cash flow decreased by 39%. Adjusted EPS was $0.96, beating consensus estimates. Equinor declared a quarterly cash dividend of $0.35 and an extraordinary dividend of the same amount, with a share buyback program valued at up to $1.6 billion for 2024. The company reaffirmed its FY24 outlook, expecting stable production and $13 billion in organic capital expenditures. Equinor's focus on renewable energy growth and exploration success was also highlighted.

Portfolio Pulse from Lekha Gupta

April 25, 2024 | 12:49 pm

MO

Altria Group Inc (NYSE:MO) reported a Q1 FY24 sales decline of 2.5% Y/Y to $5.58 billion, surpassing analyst estimates of $4.71 billion. The decline was mainly due to lower revenues in the smokeable products segment, with Marlboro shipments down 8.7%. However, oral tobacco products saw a revenue increase of 3.7%. The company's gross profit and operating income also fell, but adjusted EPS met consensus estimates. Altria paid $1.7 billion in dividends and expects $1 billion remaining in its share repurchase program. The company reaffirmed its FY24 adjusted EPS outlook of $5.05 - $5.17 and anticipates growth in the second half of the year. MO shares rose 0.19% in premarket trading.

Portfolio Pulse from Shivani Kumaresan

April 25, 2024 | 12:28 pm

TMUS

T-Mobile US, Inc. (NASDAQ:TMUS) is anticipated to release its Q1 earnings on April 25, 2024, with expected earnings of $1.87 per share, up from $1.58 the previous year, and projected revenue of $19.81 billion. The company recently completed $163 million in network upgrades in Arkansas and offers a 1.58% annual dividend yield. To earn $500 monthly from dividends, an investment of approximately $378,927 is required.

Portfolio Pulse from Avi Kapoor

April 25, 2024 | 12:08 pm

GILD

PDCO

PFE

Wall Street's most accurate analysts have provided their views on three high-dividend yielding health care stocks: Pfizer Inc. (PFE), Gilead Sciences, Inc. (GILD), and Patterson Companies, Inc. (PDCO). Pfizer's dividend yield is 6.40%, with mixed analyst ratings and a recent dividend declaration. Gilead has a 4.59% dividend yield, with analysts adjusting price targets downward. Patterson Companies, with a 3.97% yield, has seen price target adjustments and announced a significant stock buyback and a quarterly dividend.

Portfolio Pulse from Avi Kapoor

April 25, 2024 | 11:54 am