Summary UPS reported Q4 and FY2018 results on January 31, 2019 and provided guidance for FY2019. In FY2018, UPS generated $6.1B of Free Cash Flow, reinvested $6.6B into its global network, and returned $4.2B to shareowners through $1B in share repurchases and $3.2B in dividends. In September 2018 UPS held its 2018 Transformation Conference in [...]
Summary CNR has just released its Q4 and FY2018 results which reflect remarkable turnaround from early 2018. A ~18% increase in CNR’s quarterly dividend has just been announced together with details of a new normal course issuer bid. While CNR is already one of my largest holdings I am open to acquiring additional shares in [...]
Summary MMM lowered its FY2018 EPS guidance when it released its Q3 2018 results in October. FY2019 EPS guidance provided at its November Investor Day been lowered to $10.45 - $10.90 which still represents a 17.5% - 22.6% YoY increase from the $8.89 earned in FY2018. The company consistently generates significant Free Cash Flow. Another [...]
Summary GWW reported Q4 and FY2018 results on January 24th and it shares retraced ~11% from the previous day’s close. Many industrial companies to whom GWW supplies products have reported strong FY2018 results and are expecting to increase their revenue and earnings in 2019. Macro issues (trade tensions and tariffs) still exist and if the [...]
Summary UTX released Q4 and FY2018 results on January 23 which exceeded analyst expectations thus resulting in a bump in UTX’s share price. While the total estimated cost of the Otis and Carrier spin-offs is significant, the long-term benefits should outweigh these one-time expenses. The Rockwell Automation acquisition closed November 2018. Integration is proceeding as [...]
Following the release of Stanley Black & Decker's (SWK) Q4 and FY2018 earnings on January 22, 2018, SWK's shares dropped ~15.5% in value. This drop is attributed to its FY2019 outlook being weaker than forecast. SWK has indicated it is extremely well positioned to hit its $22B revenue target by 2022; FY2018 revenue was just [...]
Summary GS is currently attractively valued but there is the $7.5B overhang the Malaysian government is seeking to recover from GS. Priorities are to focus on investments for growth, improve operating efficiency, and to enhance the durability of revenues and earnings. GS continues to shift its funding mix from unsecured long-term debt to deposits. The [...]
Summary BK’s Q4 and FY2018 results released January 16, 2019 reflected a mixed underlying performance. Revenue declined but BK maintained strong expense discipline and benefited from a lower tax rate. BK continues to reward shareholders with $3.3B in common shares repurchased and $1.1B in dividends distributed to common shareholders in FY2018. On December 10th, BK [...]
On January 9th, the day I posted my most recent article on Constellation Brands (STZ), the outgoing and incoming CEOs appeared on Mad Money following the release of a disappointing 2019 forecast. STZ's current CEO Rob Sands, who will step down in March, stated the response to his company's softer guidance is a "total overreaction" [...]
A recent article on a highly followed investor website suggests that two small cap TSX listed companies are appropriate investments for Tax Free Savings Accounts (TFSA). For long-term risk averse investors, neither company would be an appropriate investment. In this article I compare the extent to which both companies have rewarded shareholders with two extremely [...]
