Becton, Dickinson and Company (BDX) released Q3 and YTD 2019 results and reiterated FY2019 guidance on August 6, 2019. BDX's share price jumped but in the current environment I envision an impending share price pullback which should provide investors with an opportunity to acquire shares in this high quality company at a more favorable valuation. [...]
McDonald's Corporation (MCD) released Q2 and YTD results on July 26, 2019. I anticipate further improvements from its Growth Strategy which was launched in 2017 and am optimistic in its long-term growth prospects in China where there is ample opportunity to increase penetration in a country of 1.4 billion people. Summary MCD’s top line has [...]
AT&T Inc. released Q2 2019 and YTD 2019 results July 24, 2019. It has generated ~$29B in free cash flow over the last 12 months and full-year free cash flow guidance is now ~$28B. In addition to reducing net debt by ~$6.8B in Q2, T has repaid ~$18B of debt subsequent to the June 2018 [...]
W.W. Grainger, Inc. released Q2 2019 results and FY2019 on July 24, 2019. Despite softer demand and lowered Sales guidance, management has reiterated Gross Profit Margin, Operating Margin, and adjusted diluted EPS guidance. Summary GWW reported Q2 results on July 24th. Gross and Operating Margins and adjusted EPS guidance have been maintained but sales guidance [...]
Stanley Black & Decker's (SWK) share price has appreciated over 30% since I recommended acquiring shares in my January 22nd article. With the release of Q2 results and FY2019 guidance I provide my opinion on SWK's current valuation. Summary On July 23rd SWK reported Q2 2019 results in which $2.66 in Non-GAAP EPS beat estimates [...]
Fastenal Company (FAST) released Q2 2019 results July 11, 2019 in which management indicated that while activity has clearly slowed and there is no panic in the market, sentiment has become more cautious. Summary A $9,000 investment in FAST on the date of its August 20, 1987 IPO would now be worth in excess [...]
Agilent Technologies, Inc. (A) is a global leader in life sciences, diagnostics and applied chemical markets, providing application focused solutions that include instruments, software, services and consumables for the entire laboratory workflow. In mid-May, Agilent released Q2 results in which FY2019 Revenue guidance was lowered but Non-GAAP diluted EPS guidance remained unchanged at $3.03 [...]
Genuine Parts Company (GPC) released Q2 2019 results on July 18, 2019. Guidance for FY2019 has been lowered and corrective action is being taken to improve results. With the ~$7 pullback in GPC's share price following the release of results on July 18th, I now view GPC as fairly valued despite lower earnings expectations. [...]
Johnson & Johnson (JNJ) released Q2 2019 results on July 16, 2019. Although there is significant overhang from the 'talc' and 'opioid' legal issues I anticipate that any penalties JNJ does incur will be far less than those sought by the plaintiffs. I view JNJ as being reasonably valued and would acquire additional shares [...]
The Goldman Sachs Group, Inc. (GS) released Q2 2019 results on July 16, 2019. It also announced on June 27th an increase in its quarterly dividend from $0.85 to $1.25 effective with the Q3 dividend payment and a $7B share repurchase program beginning Q3 2019 and ending Q2 2020. I am bullish GS and the [...]
