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SWORDS, IRELAND / ACCESSWIRE / March 8, 2024 / Trane Technologies (NYSE:TT), a global climate innovator, is pleased to announce Dr. Becky Bryant has been recognized as a 2024 Women MAKE Awards Honoree. This annual award honors women who've made a significant impact in the manufacturing industry and is part of The Manufacturing Institute's Women MAKE America initiative, which is the nation's marquee program to close the gender gap in manufacturing.Dr. Bryant is a strategic research and business development leader who has established a strategy, team and structure that has positioned Trane Technologies as a leader in climate-innovation research. This research is a cornerstone for the company's 2030 Sustainability Commitments and advances it toward an ambitious 2050 net-zero carbon target. Dr. Bryant and her team have already initiated 10 funded research projects with multiyear trajectories, focusing on critical sustainability areas such as decarbonization and intelligent equipment.Within the Trane Technologies' community, she plays a pivotal role in the company's ReLaunch program, which focuses on rehiring and redeveloping skilled female engineering professionals who have taken extended breaks from the workforce. Her active engagement has contributed to Trane Technologies hiring approximately 25 ReLaunch participants. She's also a member of the company's Internal Coaching Cadre, where she actively engages in nurturing and developing emerging technical talent."Bec's unwavering commitment to excellence, technical expertise and dedication to coaching emerging talent has left an indelible mark on our company" said Mairéad Magner, Trane Technologies senior vice president and chief human resources officer. "That's why I'm excited to see her receive this prestigious and well-deserved award. She is the embodiment of Trane Technologies' core value of uplifting others, inspiring them with her leadership, integrity and hard work."Story continuesTo lead industry-wide change and create a more diverse workforce, Trane Technologies aims to achieve gender parity in senior leadership positions and increase the number of women in management positions by 2030. The company's Women in Action (WIA) program was created as part of our 2030 Sustainability Commitments and provides women in leadership access to content that promotes the development of leadership skills and addresses the unique challenges faced by women in business.Trane Technologies was also the first company in its industry to join Paradigm for Parity, a coalition of businesses dedicated to addressing the leadership gender gap. Last October, Paradigm for Parity named Trane Technologies' Deidra Parrish Williams and Britt Smith as 2023 Women on the Rise, an accolade recognizing women who are breaking barriers in corporate leadership and show the value of gender parity.The company was also named to the 2023 Fortune Best Workplaces for Women list, which highlights companies who offer increased flexibility, equitable pay and career support to women regardless of their job role, race, sexual orientation and work status, and was named one of America's Greatest Workplaces for Women in 2024 by Newsweek.# # #About Trane Technologies Trane Technologies is a global climate innovator. Through our strategic brands Trane and Thermo King, and our environmentally responsible portfolio of products and services, we bring efficient and sustainable climate solutions to buildings, homes, and transportation. Learn more at tranetechnologies.com.About The Manufacturing Institute The Manufacturing Institute builds, diversifies and strengthens the modern manufacturing workforce, with the goal of furthering individual opportunity, community prosperity and a more competitive manufacturing industry. The MI engages underrepresented communities and shifts perceptions about careers in modern manufacturing, leads skilled training and career development programs, provides thought leadership and research on the changing state of the workforce and builds partnerships to scale up its impact on manufacturing in the United States. As the 501(c)3 nonprofit workforce development and education partner of the National Association of Manufacturers, the MI is a trusted adviser to manufacturers, equipping them with solutions for the industry's toughest challenges. For more information, please visit themanufacturinginstitute.org.Dr. Becky BryantView additional multimedia and more ESG storytelling from Trane Technologies on 3blmedia.com.Contact Info:Spokesperson: Trane TechnologiesWebsite: https://www.3blmedia.com/profiles/trane-technologiesEmail: [email protected]: Trane TechnologiesView the original press release on accesswire.com

ACCESSWIRE

Trane Technologies’ Dr. Becky Bryant Named 2024 Women MAKE Awards Honoree by the Manufacturing Institute

https://finance.yahoo.com/news/trane-technologies-dr-becky-bryant-160000176.html

fd042d09-858e-3652-8aa0-93e7a878f3c0

TTWO

Private Division, a publishing label of Take-Two Interactive Software, Inc. (NASDAQ: TTWO), and Evening Star announced today that Penny’s Big Breakaway is out now for the Nintendo Switch™ family of systems, PlayStation 5, Xbox Series X|S, and PC via Steam. From the team that brought you Sonic Mania comes this imaginative new kinetic 3D platformer bursting with innovative gameplay. Playing as Penny, the ‘yo-tagonist’, you swing, dash, flip, zip, and trick your way through a variety of challenging and beautifully stylized levels. Over the course of 11 exciting game worlds and dozens of levels, Penny and her comic Yo-Yo companion must escape capture from Eddie the Emperor and his penguin forces. (Graphic: Business Wire)The all-new 3D platforming game from Private Division and Evening Star has plenty of tricks up its sleeve. It’s time to YO!News of the surprise launch was featured in today’s Nintendo Direct: Partner ShowcaseNEW YORK, February 21, 2024--(BUSINESS WIRE)--Private Division, a publishing label of Take-Two Interactive Software, Inc. (NASDAQ: TTWO), and Evening Star announced today that Penny’s Big Breakaway is out now for the Nintendo Switch™ family of systems, PlayStation 5, Xbox Series X|S, and PC via Steam. From the team that brought you Sonic Mania comes this imaginative new kinetic 3D platformer bursting with innovative gameplay. Playing as Penny, the ‘yo-tagonist’, you swing, dash, flip, zip, and trick your way through a variety of challenging and beautifully stylized levels. Over the course of 11 exciting game worlds and dozens of levels, Penny and her comic Yo-Yo companion must escape capture from Eddie the Emperor and his penguin forces."Great platformers are iconic in our industry, and we think Penny’s Big Breakaway stands out as a truly unique and incredibly fun entry in such a beloved genre," said Christian Whitehead, Creative Director at Evening Star. "We have been thrilled with the fan response of Penny’s Big Breakaway so far and can’t wait to see the leaderboards light up as players get into the game."Penny’s Big Breakaway provides non-stop action as you try to escape the impending penguin horde at every turn. These waddling, avian adversaries will burst from walls, rush over cliffs, and attempt to dogpile you to stop your progress. But don’t fret -- Penny is an agile and acrobatic aerialist. You will jump, spin, and ride over a variety of brightly colored and complex terrains, featuring steep ramps, sharp ledges, massive cliffs, and more. Every obstacle is an opportunity to increase your speed, allowing you to use the environment to your advantage and gain a bit of breathing room from those flightless assailants in hot pursuit. Momentum is key, because in addition to Story Mode, Penny’s Big Breakaway also includes a Time Attack Mode, where you can try and achieve the perfect run and set high scores on the leaderboard for the world to see.Story continuesPenny isn’t the only star of this show: her trusty partner Yo-Yo, while largely to blame for causing this chase, provides plenty of abilities to assist in your getaway. Throughout the game, you can unlock tasty treats which her Yo-Yo can snack on. When consumed, these delicious items will temporarily unlock new power ups such as increased movement speed, a protective shield, and many more. In addition to powerups, Penny’s Yo-Yo can pick up various single-use tools, which can be used to bust down walls revealing secret treasure or magnetically attach to new surfaces for greater exploration. Her versatile Yo-Yo might be hungry for chaos, but it could also be just the trick to clear her name and absolve her of this massive mix-up."The team of developers at Evening Star have a strong track record in creating incredible platforming experiences, and with Penny’s Big Breakaway they’ve created an entry into the genre that’s nonstop fun with broad appeal," said Rachael Berkman, Producer at Private Division. "From platforming enthusiasts to adamant speedrunners alike, we think Penny will capture the hearts of players around the world."Penny’s Big Breakaway is available now for the Nintendo Switch family of systems, PlayStation 5, Xbox Series X|S, and PC. Penny’s Big Breakaway is rated E for Everyone by the ESRB. For more information on Penny’s Big Breakaway, subscribe on YouTube, follow us on Twitter, become a fan on Facebook, follow on Instagram, and visit www.pennysbigbreakaway.com.Private Division is a publishing label of Take-Two Interactive Software, Inc. (NASDAQ: TTWO).About Evening StarEvening Star is a boutique game studio founded in late 2018. Based in Los Angeles, with additional operations in London and Melbourne, Evening Star's mission is to design fresh, fun games that stand the test of time. As a distributed team, a key tenet of Evening Star's studio culture is strong communication. Though we may be separated by two oceans, we endeavor to foster a close-knit collaborative environment. We boldly explore new and exciting directions that push the boundaries of what Evening Star can achieve, while being mindful that good creativity comes from healthy and sustainable working practices. Above all, our passion for games and our unique backgrounds drives us to craft games imbued with our signature sense of style. Our team develops custom game engines that we use to create our games: the Star Engine and the Retro Engine. For more information, please visit www.eveningstar.studio.About Private DivisionPrivate Division is a developer-focused publisher that partners with the finest creative talent in the video game industry, empowering studios to develop the games that they are passionate about creating, while providing the support that they need to make their titles critically and commercially successful on a global scale. The Label publishes the Kerbal Space Program franchise, Ancestors: The Humankind Odyssey from Panache Digital Games, The Outer Worlds from Obsidian Entertainment, OlliOlli World and Rollerdrome from Roll7, Penny’s Big Breakaway from Evening Star, No Rest for the Wicked from Moon Studios, Tales of the Shire from Wētā Workshop, and more. Private Division has future unannounced projects in development with Bloober Team, Game Freak, and other esteemed independent developers. The Label publishes the physical retail edition of Hades from Supergiant Games on PlayStation®, Xbox Series X|S, and Xbox One. Private Division continues to build its internal studio capacity, with Roll7 and Intercept Games as internal developers for the Label. Private Division is headquartered in New York City with offices in Seattle and Munich. For more information, please visit www.privatedivision.com.About Take-Two Interactive SoftwareHeadquartered in New York City, Take-Two Interactive Software, Inc. is a leading developer, publisher, and marketer of interactive entertainment for consumers around the globe. We develop and publish products principally through Rockstar Games, 2K, Private Division, and Zynga. Our products are designed for console gaming systems, PC, and mobile, including smartphones and tablets. We deliver our products through physical retail, digital download, online platforms, and cloud streaming services. The Company’s common stock is publicly traded on NASDAQ under the symbol TTWO. For more corporate and product information please visit our website at http://www.take2games.com.All trademarks and copyrights contained herein are the property of their respective holders.Cautionary Note Regarding Forward-Looking StatementsThe statements contained herein, which are not historical facts, including statements relating to Take-Two Interactive Software, Inc.'s ("Take-Two," the "Company," "we," "us," or similar pronouns) outlook, are considered forward-looking statements under federal securities laws and may be identified by words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "potential," "predicts," "projects," "seeks," "should," "will," or words of similar meaning and include, but are not limited to, statements regarding the outlook for our future business and financial performance. Such forward-looking statements are based on the current beliefs of our management as well as assumptions made by and information currently available to them, which are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict. Actual outcomes and results may vary materially from these forward-looking statements based on a variety of risks and uncertainties including risks relating to our combination with Zynga Inc.; the risks of conducting business internationally, including as a result of unforeseen geopolitical events; the impact of changes in interest rates by the Federal Reserve and other central banks, including on our short-term investment portfolio; the impact of inflation; volatility in foreign currency exchange rates; our dependence on key management and product development personnel; our dependence on our NBA 2K and Grand Theft Auto products and our ability to develop other hit titles; our ability to leverage opportunities on PlayStation®5 and Xbox Series X|S; factors affecting our mobile business, such as player acquisition costs; the timely release and significant market acceptance of our games; the ability to maintain acceptable pricing levels on our games.Other important factors and information are contained in the Company's most recent Annual Report on Form 10-K, including the risks summarized in the section entitled "Risk Factors," the Company’s most recent Quarterly Report on Form 10-Q, and the Company's other periodic filings with the SEC, which can be accessed at www.take2games.com. All forward-looking statements are qualified by these cautionary statements and apply only as of the date they are made. The Company undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.View source version on businesswire.com: https://www.businesswire.com/news/home/20240221872798/en/ContactsJeremy Gumber (Press)Senior ManagerCommunicationsPrivate Division (646) [email protected] Lewis (Corporate Press)Vice PresidentCorporate Communications & Public AffairsTake-Two Interactive Software, Inc.(646) [email protected]

Business Wire

Penny’s Big Breakaway is Out Now

https://finance.yahoo.com/news/penny-big-breakaway-now-140000269.html

74723ea8-34e0-302f-8d88-97c5fd266145

TTWO

Take-Two Interactive Software’s TTWO Private Division, in collaboration with Evening Star, has launched Penny’s Big Breakaway across multiple gaming platforms.Developed by the creators of Sonic Mania, this dynamic 3D platformer introduces Penny, the protagonist, as she navigates through creatively designed levels using various skills like swinging, dashing and flipping. Across 11 game worlds and numerous levels, Penny and her companion, Yo-Yo, strive to escape from Eddie the Emperor and his penguin army. Penny’s Big Breakaway delivers thrilling action as players strive to evade the relentless pursuit of penguin adversaries.While Penny takes the spotlight, her loyal companion, Yo-Yo, adds an extra layer of depth to the gameplay. Yo-Yo can consume treats found throughout the game to unlock temporary power-ups, such as enhanced speed and protective shields.Available now on multiple platforms, including Nintendo Switch, PlayStation, Xbox and PC, Penny's Big Breakaway is suitable for players of all ages and is rated E for Everyone by the ESRB.Shares of this Zacks Rank #3 (Hold) company have gained 36.9% in the past year compared with the Zacks Consumer & Discretionary sector’s growth of 7.7% due to blockbuster games like FIFA and GTA. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Take-Two Interactive Software, Inc. Price and ConsensusTake-Two Interactive Software, Inc. Price and ConsensusTake-Two Interactive Software, Inc. price-consensus-chart | Take-Two Interactive Software, Inc. QuoteTTWO’s Upcoming Games to Fend Off CompetitionThe company is gearing up for multiple significant releases in 2024 and beyond. Take-Two's upcoming game lineup includes highly anticipated titles, such as WWE 2K24, Top Troops and Star Wars Hunters, which are expected to attract significant customer interest and potentially boost the company's popularity.Top Troops is a highly anticipated game, which is already attracting a lot of interest from gamers. WWE and Star Wars, being renowned franchises, are expected to break all records with their upcoming games and boost the company’s net bookings in the current fiscal year.The Zacks Consensus Estimate for Take-Two's fiscal 2024 total net bookings is pegged at $5.37 billion, indicating year-over-year growth of 1.65%. The Zacks Consensus Estimate for TTWO’s fiscal 2024 earnings is pegged at $2.49 per share, indicating a year-over-year decline of 33.95%.Additionally, the current fiscal year holds promise with the launch of 16 games, including a new intellectual property from a top-tier studio, aimed at staying competitive against rivals like Ubisoft Entertainment UBSFY, Disney DIS and Microsoft MSFT.Ubisoft Entertainment, a renowned French video game publisher known for blockbuster franchises like Assassin's Creed and Far Cry, continues to maintain a strong presence in the gaming market. Its upcoming games include titles like XDefiant and The Division Heartland.Disney's Marvel has seen remarkable success with its latest release of Spider-Man 2. DIS’ ongoing projects featuring beloved Disney characters like Wolverine and Iron Man are generating excitement among gamers.Microsoft's Xbox, a key player in the gaming industry, is set to introduce compelling titles, such as Promenade, BroodStar and PopSlinger, fostering intense competition across various platforms and franchises. The gaming landscape is poised for dynamic experiences in the upcoming months.Story continuesWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportMicrosoft Corporation (MSFT) : Free Stock Analysis ReportTake-Two Interactive Software, Inc. (TTWO) : Free Stock Analysis ReportThe Walt Disney Company (DIS) : Free Stock Analysis ReportUbiSoft Entertainment Inc. (UBSFY) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Take-Two (TTWO) and Evening Star Launch Penny's Big Breakaway

https://finance.yahoo.com/news/two-ttwo-evening-star-launch-125000997.html

de9305f1-67d2-36bd-80e1-6cf8495f0b9e

TTWO

Today, 2K announced the Deluxe Edition and Forty Years of WrestleMania Edition of WWE® 2K24, the newest installment of the flagship WWE video game franchise developed by Visual Concepts, are available now on PlayStation® 5 (PS5®), PlayStation®4 (PS4®), Xbox Series X|S, Xbox One, and PC via Steam.* The Standard Edition and Standard Cross-Gen Digital Edition will be available on Friday, March 8, 2024. (Graphic: Business Wire)Today, 2K announced the Deluxe Edition and Forty Years of WrestleMania Edition of WWE® 2K24, the newest installment of the flagship WWE video game franchise developed by Visual Concepts, are available now on PlayStation® 5 (PS5®), PlayStation®4 (PS4®), Xbox Series X|S, Xbox One, and PC via Steam.* The Standard Edition and Standard Cross-Gen Digital Edition will be available on Friday, March 8, 2024. (Graphic: Business Wire)Join iconic Standard Edition cover Superstar "The American Nightmare" Cody Rhodes and Deluxe Edition cover Superstars Rhea Ripley and Bianca Belair, with historic 2K Showcase… Of The Immortals, four new match types, Executive Soundtrack Producer Post Malone, and much moreNEW YORK, March 05, 2024--(BUSINESS WIRE)--Today, 2K announced the Deluxe Edition and Forty Years of WrestleMania Edition of WWE® 2K24, the newest installment of the flagship WWE video game franchise developed by Visual Concepts, are available now on PlayStation® 5 (PS5®), PlayStation®4 (PS4®), Xbox Series X|S, Xbox One, and PC via Steam.* The Standard Edition and Standard Cross-Gen Digital Edition will be available on Friday, March 8, 2024."WWE 2K24 is a testament to the development team’s world champion-level commitment to excellence," said Greg Thomas, President at Visual Concepts. "Topping our best efforts each year has become a challenge we look forward to, and we’re especially proud of what we’ve achieved in our improvements to gameplay and overall quality."WWE 2K24 boasts an array of new features and improvements on existing fan-favorites:2K Showcase… Of The Immortals: For 40 years, WrestleMania set the scene for unforgettable moments - from Hulk Hogan going toe to toe with The Rock in a contest of "Icon vs Icon," to "Stone Cold" Steve Austin refusing to tap out to Bret Hart’s Sharpshooter, to "Mr. WrestleMania" Shawn Michaels and Razor Ramon innovating the ladder match, and many more. 40 years in the making, the WWE 2K24 Showcase…of the Immortals puts players in control, playing through the most iconic moments in WrestleMania history as 2K’s distinctive Slingshot Tech seamlessly morphs gameplay to live-action footage and back again for the most immersive WrestleMania video game experience to date. A host of unlockable content adds challenge and replay value to this historical experience. Check out the trailer here;Iconic Roster: WWE 2K24 boasts a star-studded roster of 200+, featuring WWE Legends including "Stone Cold" Steve Austin, the Rock, Undertaker, Ultimate Warrior, and Andre the Giant, alongside current WWE Superstars including "The American Nightmare" Cody Rhodes, Bianca Belair, John Cena, Rhea Ripley, and Roman Reigns, whose larger-than-life entrances and signature moves are heightened by ultra-realistic graphics. Also joining the roster is boxing icon, "The Greatest" Muhammad Ali. The complete roster list is available here;Four New Match Types: Players asked, and WWE 2K24 delivers, with four new, chaotic match types: Special Guest Referee, Ambulance Match, Casket Match, and Gauntlet Match. In addition, the Backstage Brawl now features 4-player support and new interactive environmental elements - including a working elevator, breakable control room glass, and a vending machine with throwable water bottles - while the Royal Rumble now offers support for eight online players in 30-Superstar online matches. All of the familiar WWE 2K match types, such as WarGames, Extreme Rules, TLC, Submission, Hell in a Cell, and many more also return. Check out the trailer here;MyRISE: WWE 2K’s unique career mode experience offers two new storylines: the women’s division Unleashed experience and the men’s division Undisputed experience. Players are tasked with creating an original Superstar to forge their career path and leave an unforgettable legacy, with 80 rewards to be unlocked, including arenas, Paybacks, entrances, MyFACTION cards, and championship belts. Between the two experiences, there are over six hours of original dialogue, featuring franchise-first voiceover performances from Roman Reigns, Cody Rhodes, "Dirty" Dominik Mysterio, Mick Foley, Shotzi, and more. Check out the trailer here;MyFACTION: The team-building mode in which players collect, manage, and upgrade an array of WWE Superstars and Legends to create their ultimate four-person factions returns with a new direct purchase card market and updated multiplayer experience. Players can now compete in ranked online QuickPlay with unique rewards and seasonal leaderboards, challenge themselves with Weekly Towers, and take on a revamped Faction Wars 2.0, featuring more real-world factions, more 4v4 match types, a Faction Wars specific reward shop and more. New themed card packs and goals will continue to roll out regularly throughout the year with seasonal content refreshes**;MyGM: The popular WWE brand management simulation continues to expand with new GMs and brands to choose from, more match types, more Dramas, more Championships, talent scouts, Superstar trading between brands, Superstar contract management and the new Superstar Journey, which allows Superstars to earn XP, train, and level up to gain new benefits after participating in matches;Universe: The ultimate WWE Universe sandbox that puts players in charge of Superstar rosters, feuds, champions, weekly shows, and Premium Live Events now features expanded Rivalry actions, including run-ins, Money in the Bank cash-ins, scenarios, and brawls, as well as new cutscenes, Special Guest Referee support, Double Title Matches and a Loser Leaves Town stipulation;Creation Suite: The crown jewel of the WWE 2K franchise, the best-in-class, most detailed and robust creation suite returns with all-new support for Create-A-Referee and Create-A-Sign, as well as new parts and animations to design custom Superstars, GMs, arenas, entrances, move sets, championships and more;Soundtrack: Curated by Executive Soundtrack producer and music icon Post Malone, WWE 2K24 features an eclectic soundtrack including artists across an array of genres, including rock, metal, country, electronic music, and rap;DLC Character Packs: Fan-favorite celebrities and Superstars including CM Punk, Pat McAfee, Post Malone, Jade Cargill, Iron Sheik, Diamond Dallas Page, Mr. Perfect, and more take to the ring in DLC packs, rolling out over the months ahead and available individually, or via Season Pass. These DLC offerings, alongside frequent MyFACTION updates, offer extensive post-launch content and replayability for players to enjoy. More info on Season Pass is available here.Story continuesWWE 2K24 EditionsWWE 2K24 features four editions of the game: Standard Edition, Standard Cross-Gen Digital Edition, Deluxe Edition, and Forty Years of WrestleMania Edition:The Standard Edition will be available for $59.99 on previous-gen platforms (PS4, Xbox One consoles) and PC and for $69.99 on current-gen consoles (PS5 and Xbox Series X|S);Pre-Order Bonus Offers: Players who pre-order the WWE 2K24 Standard Edition will receive the Nightmare Family Pack*** a bonus pack of content including four playable Superstars - two alternate versions of Cody Rhodes (The "Undashing" masked Cody and the flamboyant Stardust), as well as the 1976 version of his father, WWE Hall of Famer Dusty Rhodes, plus one of Dusty’s greatest rivals, "Superstar" Billy Graham, all available as playable characters. Additional MyFACTION content includes three MyFACTION cards - a Mattel "Bruised" Cody Rhodes Gold Rarity card and, for the first time ever, Cody’s dog, Pharaoh, appears in WWE 2K as a Gold Rarity Manager card. In addition, all Digital Pre-Orders of any edition of WWE 2K24 will include the Standard Edition of WWE 2K23****, the highest-rated game in franchise history according to Metacritic*****;The Standard Cross-Gen Digital Edition will be available for $69.99 on PlayStation and Xbox consoles. The Standard Cross-Gen Digital Edition includes the Standard Edition across previous and current-gen platforms within the same console family and the same PlayStation or Xbox account;The Deluxe Edition is available for $99.99 for PS4, PS5, Xbox Series X|S, Xbox One, and PC. The Deluxe Edition includes the Standard Cross-Gen Edition, Nightmare Family Pack, plus a Season Pass to all five post-launch DLC content packs******; the MyRISE Mega-Boost and SuperCharger; Gold Rarity Rhea Ripley MyFACTION Card, Gold Rarity Bianca Belair MyFACTION Card, and alternate attires for Bianca and Rhea. The Deluxe Edition is available now – three days ahead of Standard and Cross-Gen Editions!;The Forty Years of WrestleMania Edition is available for $119.99 for PS4, PS5, Xbox Series X|S, Xbox One, and PC. In addition to the Standard Cross-Gen Edition and all bonus content included in the Deluxe Edition, the Forty Years of WrestleMania Edition includes the Forty Years of WrestleMania Pack, which features alternate attires for "Macho King" Randy Savage (WrestleMania 6), Rey Mysterio (WrestleMania 22), Triple H (WrestleMania 30), Charlotte Flair (WrestleMania 33), and Rhea Ripley (WrestleMania 36), as well as Gold Rarity MyFACTION cards for each, instant unlocking of all playable Showcase characters, and the WrestleMania 40 Arena, which will be available after launch******. The Forty Years of WrestleMania Edition is available now – three days ahead of Standard and Standard Cross-Gen Editions!;For more information on WWE 2K24, visit the game’s official website, become a fan on Facebook, follow the game on TikTok, X, Instagram, and subscribe on Twitch and YouTube. Official campaign hashtags #WWE2K24 and #FinishYourStory.Visual Concepts is a 2K studio. 2K is a wholly owned publishing label of Take-Two Interactive Software, Inc. (NASDAQ: TTWO)."PlayStation", "PS5", and "PS4" are trademarks or registered trademarks of Sony Interactive Entertainment.*Deluxe Edition digital version available March 5. Deluxe Edition physical version available March 5 in select territories, and March 8 for the rest of the world. For further details on physical availability of WWE 2K24 Deluxe Edition, please visit wwe.2k.com/2k24/deluxe-edition-release-dates.**WWE 2K24 and internet access required to play MyFACTION content. Online Account (13+) required to access online features. See www.take2games.com/legal and www.take2games.com/privacy for additional details.***Nightmare Family Pack pre-order bonus offer available through March 7, 2024. Pre-order WWE 2K24 Standard Edition and receive the Nightmare Family Pack, which includes four playable characters and three gold-tier MyFACTION cards (Dusty Rhodes ’76, Mattel Cody Rhodes, and Pharoah (Manager). The Nightmare Family Pack is included with Deluxe and Forty Years of WrestleMania editions. For digital pre-orders, items will be automatically entitled in-game. For physical pre-orders, items will be redeemed in game via code provided in box. Terms apply.****Pre-order WWE 2K24 Standard Edition (Digital) on any platform through March 7, 2024, and receive a digital copy of WWE 2K23 Standard Edition for the same platform. Digital copy of WWE 2K23 will be automatically entitled and available to download following pre-order. WWE 2K23 must be downloaded to the platform account used to pre-order WWE 2K24 and is non-transferable. Offer not available to platform accounts that already own WWE 2K23 on the same platform. Terms apply.*****Based on WWE 2K23's Metacritic scores on PS5, Xbox Series X|S and PC as of March 3, 2024.******For digital orders, post-launch Forty Years of WrestleMania Pack content and DLC will be automatically delivered on release for PC users, available for download in the PlayStation store/Library tile for PS4 and PS5 users, and available for download in Microsoft Store for Xbox users. For physical orders, post-launch DLC will be available upon release and redeemed in game via code provided in box. DLC will also be available for purchase separately.About 2KFounded in 2005, 2K develops and publishes interactive entertainment for video game consoles, personal computers, and mobile devices, with product availability including physical retail and digital download. The Company is home to many talented development studios, including Visual Concepts, Firaxis Games, Hangar 13, Cat Daddy Games, 31st Union, Cloud Chamber and HB Studios. 2K’s portfolio currently includes several AAA, sports and entertainment brands, including global powerhouse NBA® 2K; renowned BioShock®, Borderlands®, Mafia, Sid Meier’s Civilization® and XCOM® brands; popular WWE® 2K and WWE® SuperCard franchises; as well as the critically and commercially acclaimed PGA TOUR® 2K. Additional information about 2K and its products may be found at 2k.com and on the Company’s official social media channels.2K is a publishing label of Take-Two Interactive Software, Inc. (NASDAQ: TTWO).About Take-Two Interactive SoftwareHeadquartered in New York City, Take-Two Interactive Software, Inc. is a leading developer, publisher, and marketer of interactive entertainment for consumers around the globe. The Company develops and publishes products principally through Rockstar Games, 2K, Private Division, and Zynga. Our products are currently designed for console gaming systems, PC, and Mobile including smartphones and tablets, and are delivered through physical retail, digital download, online platforms, and cloud streaming services. The Company’s common stock is publicly traded on NASDAQ under the symbol TTWO.All trademarks and copyrights contained herein are the property of their respective holders.Cautionary Note Regarding Forward-Looking StatementsThe statements contained herein, which are not historical facts, including statements relating to Take-Two Interactive Software, Inc.'s ("Take-Two," the "Company," "we," "us," or similar pronouns) outlook, are considered forward-looking statements under federal securities laws and may be identified by words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "potential," "predicts," "projects," "seeks," "should," "will," or words of similar meaning and include, but are not limited to, statements regarding the outlook for our future business and financial performance. Such forward-looking statements are based on the current beliefs of our management as well as assumptions made by and information currently available to them, which are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict. Actual outcomes and results may vary materially from these forward-looking statements based on a variety of risks and uncertainties including risks relating to our combination with Zynga Inc.; the risks of conducting business internationally, including as a result of unforeseen geopolitical events; the impact of changes in interest rates by the Federal Reserve and other central banks, including on our short-term investment portfolio; the impact of inflation; volatility in foreign currency exchange rates; our dependence on key management and product development personnel; our dependence on our NBA 2K and Grand Theft Auto products and our ability to develop other hit titles; our ability to leverage opportunities on PlayStation®5 and Xbox Series X|S; factors affecting our mobile business, such as player acquisition costs; the timely release and significant market acceptance of our games; the ability to maintain acceptable pricing levels on our games.Other important factors and information are contained in the Company's most recent Annual Report on Form 10-K, including the risks summarized in the section entitled "Risk Factors," the Company’s most recent Quarterly Report on Form 10-Q, and the Company's other periodic filings with the SEC, which can be accessed at www.take2games.com. All forward-looking statements are qualified by these cautionary statements and apply only as of the date they are made. The Company undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.View source version on businesswire.com: https://www.businesswire.com/news/home/20240305361027/en/ContactsAl Stavola2K(415) [email protected] Lewis (Corporate Press)Take-Two Interactive Software, Inc.(646) [email protected] RilloFINN Partners for 2K(310) [email protected] DominoWWE(973) [email protected]

Business Wire

"Finish Your Story" in WWE® 2K24 Deluxe Edition and Forty Years of WrestleMania Edition Now Available Worldwide

https://finance.yahoo.com/news/finish-story-wwe-2k24-deluxe-130000115.html

e84609a0-2685-3281-a701-44d96ce86986

TTWO

Take-Two Interactive TTWO-owned 2K unveiled the latest addition to the video game franchise with WWE 2K24, developed by Visual Concepts. The Deluxe Edition and Forty Years of WrestleMania Edition are currently accessible on various platforms including PS5, PS4, Xbox Series X|S, Xbox One and PC via Steam. Meanwhile, the Standard Edition and Standard Cross-Gen Digital Edition are scheduled to release on Mar 8, 2024.Players can relive iconic WrestleMania moments spanning 40 years, with immersive gameplay seamlessly transitioning between action and live-action footage. WWE 2K24 boasts a star-studded lineup of 200+ WWE legends and current superstars, featuring Steve Austin, Undertaker, Roman Reigns and Muhammad Ali.The game has introduced four new match types, including Special Guest Referee, Ambulance Match, Casket Match and Gauntlet Match. It also has two new storylines, in which players craft their own legacy with more than six hours of original dialogue and 80 unlockable rewards.Players can build and manage their ultimate four-person factions, compete in ranked online QuickPlay, Weekly Towers and revamped Faction Wars 2.0. The game comes with an expanded brand management simulation and new features like Superstar Journey and talent scouting.Future releases will include fan-favorite celebrities and superstars like CM Punk and Post Malone, providing additional content and replayability.Take-Two Interactive Software, Inc. Price and ConsensusTake-Two Interactive Software, Inc. Price and ConsensusTake-Two Interactive Software, Inc. price-consensus-chart | Take-Two Interactive Software, Inc. QuoteIntroducing the Exciting Editions of WWE 2K24For those who want to jump into the action without any frills, the Standard Edition is priced at $59.99 for previous-gen platforms and PC, and $69.99 for current-gen consoles.Priced at $69.99, Standard Cross-Gen Digital Edition allows players to enjoy the game seamlessly on previous and current-gen consoles, all under one account.The Deluxe Edition at $99.99 offers a slew of additional perks. Alongside the Standard Cross-Gen Edition, players receive the Nightmare Family Pack and a Season Pass for all five post-launch DLC content packs. Players can also unlock exclusive MyFACTION cards and alternate attires for their favorite superstars.The Forty Years of WrestleMania Edition, priced at $119.99, features iconic attires and exclusive MyFACTION cards for legendary wrestlers in addition to all the goodies from the Deluxe Edition.Pre-ordering any edition of WWE 2K24 unlocks the Nightmare Family Pack, featuring legendary superstars and exclusive MyFACTION content. Digital pre-orders also come with a special bonus of the Standard Edition of WWE 2K23, the highest-rated game in franchise history according to Metacritic.The company is gearing up for multiple significant releases in 2024 and beyond. Take-Two's upcoming game lineup includes highly anticipated titles, such as Top Troops and Star Wars Hunters, which are expected to attract significant customer interest and potentially boost the company's popularity.Story continuesTake-Two carries a Zacks Rank #5 (Strong Sell) at present.You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Additionally, the current fiscal year holds promise with the launch of 16 games, including a new intellectual property from a top-tier studio, aimed at staying competitive against rivals like Ubisoft Entertainment UBSFY, Disney DIS and Microsoft MSFT.Ubisoft Entertainment, a renowned French video game publisher known for blockbuster franchises like Assassin's Creed and Far Cry, continues to maintain a strong presence in the gaming market. Its upcoming games include titles like XDefiant and The Division Heartland.Disney's Marvel has seen remarkable success with its latest release of Spider-Man 2. DIS’ ongoing projects featuring beloved Disney characters like Wolverine and Iron Man are generating excitement among gamers.Microsoft's Xbox, a key player in the gaming industry, is set to introduce compelling titles, such as Promenade, BroodStar and PopSlinger, fostering intense competition across various platforms and franchises. The gaming landscape is poised for dynamic experiences in the upcoming months.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportMicrosoft Corporation (MSFT) : Free Stock Analysis ReportTake-Two Interactive Software, Inc. (TTWO) : Free Stock Analysis ReportThe Walt Disney Company (DIS) : Free Stock Analysis ReportUbiSoft Entertainment Inc. (UBSFY) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Take-Two (TTWO) Introduces Exciting New Editions of WWE 2K24

https://finance.yahoo.com/news/two-ttwo-introduces-exciting-editions-124300046.html

6fd4a119-6f15-34bd-9390-c084034abec8

TXN

(Adds AMD response; paragraph 7)By Kanishka SinghWASHINGTON, Feb 21 (Reuters) - A U.S. Senate panel will hold a hearing on Tuesday on the use of U.S. chips in Russian weapons systems, Senator Richard Blumenthal said in a statement on Wednesday.The hearing by the Senate's permanent subcommittee on investigations will address how Russia is evading export controls intended to block it from using U.S. technology in the war in Ukraine, added the office of the Democratic lawmaker, who chairs the panel.The panel has sought information and documents from four large U.S. semiconductor makers - Advanced Micro Devices , Analog Devices, Intel, and Texas Instruments, it added.Preliminary information obtained by the panel showed that since Russia invaded Ukraine almost two years ago, these four companies had "significantly increased" exports to countries identified as potentially being used by Russia to evade U.S. export controls, it said.American-made semiconductors have been found in a range of equipment used by the Russian military, Blumenthal's office said, from drones and radios to missiles and armored vehicles.The United States and its allies have imposed sanctions on Moscow and export controls for those supporting Russia's military and defense industries.Advanced Micro Devices said it shared the national security concerns of the Senate panel and had set up procedures for action when its products are found to have been diverted to Russia.Texas Instruments said it was co-operating with the panel and was opposed to the use of its chips in Russian military equipment, saying it stopped selling products into Russia in February 2022.Intel also said it suspended all shipments to customers in Russia and Belarus after the conflict began, that it abides by export regulations and sanctions, and that its contracts require customers and distributors to comply with the same regulations.Analog Devices said it was co-operating with the Senate panel’s probe and did not support "the illicit diversion of its products to countries or entities subject to U.S. or international sanctions."(Reporting by Kanishka Singh and David Shepardson in Washington; Additional reporting by Shubhendu Deshmukh; Editing by Daniel Wallis and Clarence Fernandez)

Reuters

UPDATE 4-Senate panel to hold hearing on use of US chips in Russian weapons

https://finance.yahoo.com/news/1-senate-panel-hold-hearing-222919729.html

7ce6f326-2003-3487-9713-505b088918ce

TXN

A month has gone by since the last earnings report for Texas Instruments (TXN). Shares have lost about 3.5% in that time frame, underperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is Texas Instruments due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.Texas Instruments Q4 Earnings Beat, Revenues Down Y/YTexas Instruments reported fourth-quarter 2023 earnings of $1.49 per share, surpassing the Zacks Consensus Estimate by 2.05%. Also, the figure was within the management’s guided range of $1.35-$1.57.However, the figure declined 30% year over year and 19.5% sequentially.TXN reported revenues of $4.08 billion, which lagged the Zacks Consensus Estimate of $4.11 billion. The figure came within the management’s guidance of $3.93-$4.27 billion.Revenues decreased 13% from the year-ago quarter’s level and 10% sequentially.The year-over-year decline was attributed to weakness across various end markets. The company witnessed sluggishness in its Analog, Embedded Processing and Other segments.On a sequential basis, Texas Instruments suffered from widespread weakness in the industrial and communication equipment markets.A sequential decline by mid-single digits in the automotive market was a major concern.Meanwhile, personal electronics remained flat while enterprise systems grew by low-single digits.TXN’s growing investments in growth avenues and competitive advantages, including manufacturing, technology, product portfolio expansion and consistent returns to shareholders, are likely to instill investors’ optimism in the stock in the days ahead.Segments in DetailAnalog: Revenues of $3.12 billion were generated from the segment (77% of total revenues), down 12% from the year-ago quarter’s level. The figure came above the Zacks Consensus Estimate of $3.05 billion.Embedded Processing: Revenues amounted to $752 million (18% of total revenues), down 10% year over year. The figure lagged the Zacks Consensus Estimate of $826 million.Other: Revenues totaled $205 million (5% of total revenues). The figure was down 25% from the prior-year quarter’s level and missed the consensus mark of $228 million.Story continuesOperating DetailsTexas Instruments’ gross margin of 59.6% contracted 650 basis points (bps) from the year-ago quarter’s level.As a percentage of revenues, selling, general and administrative expenses expanded 150 bps year over year to $438 million in the reported quarter.Research and development expenses of $460 million expanded by 200 bps from the year-ago quarter’s level as a percentage of revenues.The operating margin was 37.6%, which contracted 900 bps from the prior-year quarter’s number.Balance Sheet & Cash FlowAs of Dec 31, 2023, the cash and short-term investment balance was $8.58 billion compared with $8.95 billion as of Sep 30, 2023.At the end of the reported quarter, TXN had a long-term debt of $10.624 billion compared with $10.922 billion in the prior quarter.The current debt was $599 million, up from $300 million at the end of third-quarter 2023.Texas Instruments generated $1.92 billion of cash from operations, down from $1.94 billion in the previous quarter.Capex was $1.15 billion in the reported quarter and free cash flow was $776 million.Texas Instruments paid out dividends worth $1.18 billion in the reported quarter. It repurchased shares worth 65 million.GuidanceFor first-quarter 2024, TXN expects revenues between $3.45 billion and $3.75 billion.The company expects earnings within $0.96-$1.16 per share.How Have Estimates Been Moving Since Then?It turns out, estimates review have trended downward during the past month.The consensus estimate has shifted -25.02% due to these changes.VGM ScoresCurrently, Texas Instruments has a subpar Growth Score of D, though it is lagging a bit on the Momentum Score front with an F. Following the exact same course, the stock was allocated a grade of F on the value side, putting it in the lowest quintile for this investment strategy.Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. It's no surprise Texas Instruments has a Zacks Rank #5 (Strong Sell). We expect a below average return from the stock in the next few months.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportTexas Instruments Incorporated (TXN) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Texas Instruments (TXN) Down 3.5% Since Last Earnings Report: Can It Rebound?

https://finance.yahoo.com/news/texas-instruments-txn-down-3-163018280.html

13b55df8-667c-3afb-9da3-b7f0be5f0131

TXN

In the latest market close, Texas Instruments (TXN) reached $170.76, with a -0.98% movement compared to the previous day. This move was narrower than the S&P 500's daily loss of 1.02%. Meanwhile, the Dow experienced a drop of 1.04%, and the technology-dominated Nasdaq saw a decrease of 1.65%.The the stock of chipmaker has risen by 8.52% in the past month, leading the Computer and Technology sector's gain of 3.72% and the S&P 500's gain of 3.64%.The investment community will be closely monitoring the performance of Texas Instruments in its forthcoming earnings report. The company is forecasted to report an EPS of $1.06, showcasing a 42.7% downward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $3.61 billion, indicating a 17.65% decrease compared to the same quarter of the previous year.For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $5.17 per share and a revenue of $15.91 billion, representing changes of -26.87% and -9.19%, respectively, from the prior year.It is also important to note the recent changes to analyst estimates for Texas Instruments. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.96% decrease. Texas Instruments currently has a Zacks Rank of #5 (Strong Sell).Story continuesIn terms of valuation, Texas Instruments is presently being traded at a Forward P/E ratio of 33.33. This signifies a premium in comparison to the average Forward P/E of 30.43 for its industry.Investors should also note that TXN has a PEG ratio of 3.7 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. By the end of yesterday's trading, the Semiconductor - General industry had an average PEG ratio of 2.68.The Semiconductor - General industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 92, finds itself in the top 37% echelons of all 250+ industries.The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportTexas Instruments Incorporated (TXN) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Texas Instruments (TXN) Stock Moves -0.98%: What You Should Know

https://finance.yahoo.com/news/texas-instruments-txn-stock-moves-225017695.html

1922955a-b97d-3a17-b232-a20b9a9f2a08

TXN

Texas Instruments (TXN) closed the most recent trading day at $174.19, moving +1.1% from the previous trading session. The stock's performance was ahead of the S&P 500's daily loss of 0.11%. On the other hand, the Dow registered a gain of 0.12%, and the technology-centric Nasdaq decreased by 0.41%.Prior to today's trading, shares of the chipmaker had gained 6.1% over the past month. This has outpaced the Computer and Technology sector's gain of 1.42% and the S&P 500's gain of 2.7% in that time.Analysts and investors alike will be keeping a close eye on the performance of Texas Instruments in its upcoming earnings disclosure. The company is predicted to post an EPS of $1.06, indicating a 42.7% decline compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $3.61 billion, down 17.65% from the prior-year quarter.For the full year, the Zacks Consensus Estimates project earnings of $5.17 per share and a revenue of $15.91 billion, demonstrating changes of -26.87% and -9.19%, respectively, from the preceding year.Investors should also pay attention to any latest changes in analyst estimates for Texas Instruments. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.32% lower. Right now, Texas Instruments possesses a Zacks Rank of #5 (Strong Sell).Story continuesWith respect to valuation, Texas Instruments is currently being traded at a Forward P/E ratio of 33.36. Its industry sports an average Forward P/E of 29.95, so one might conclude that Texas Instruments is trading at a premium comparatively.One should further note that TXN currently holds a PEG ratio of 3.71. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Semiconductor - General was holding an average PEG ratio of 2.65 at yesterday's closing price.The Semiconductor - General industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 89, which puts it in the top 36% of all 250+ industries.The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.You can find more information on all of these metrics, and much more, on Zacks.com.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportTexas Instruments Incorporated (TXN) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Texas Instruments (TXN) Gains As Market Dips: What You Should Know

https://finance.yahoo.com/news/texas-instruments-txn-gains-market-220018581.html

d4661dc0-c126-39ed-a3ab-d191e09694af

TXT

The Boeing Company BA recently clinched an order from Thai Airways to supply 45 of its 787-9 Dreamliner jets to boost this Southeast Asian airline’s widebody fleet. This should bolster Boeing’s commercial delivery figures.Importance of 787 DreamlinerThe Boeing 787 Dreamliner family has unparalleled fuel efficiency and range flexibility. It uses 25% less fuel and creates 25% fewer emissions than the airplanes they replace. The jet offers passengers a matchless experience with comfort, a spacious cabin, adjustable LED lighting, the largest windows and improved air quality. The 787-9 model, 20 feet longer than the 787-8, can fly 300 passengers, 7,565 nautical miles (14,010km), with 25% better fuel per seat than the airplanes it will replace.Such remarkable features must have bolstered the demand for this jet family, translating into solid order growth for this aircraft. Evidently, since 2011, the 787 family has launched more than 390 new nonstop routes around the world. Currently, the company has 797 unfulfilled orders for 787 Dreamliner airplanes across the world. Revenues earned from the delivery of these jets, including the latest deal for 45 aircraft, should significantly boost Boeing’s commercial unit’s top line, which witnessed a solid 30% rise in 2023 from 2022.Prospects in the Southeast Asian MarketAs we continue to witness the recovery of air traffic over the past few months, the Southeast Asian region has also been witnessing a solid growth pattern.To this end, Boeing's Commercial Market Outlook (CMO) forecasts that the airplane fleet in Southeast Asia will grow 5% by 2040, resulting in the demand for more than 4400 new airplanes valued at $700 billion. Undoubtedly, such solid market growth prospects offer strong expansion opportunities for Boeing, one of the largest commercial jet makers in the world.Boeing already enjoys a strong business footprint in this part of the world with its solid presence in nations like Singapore, Indonesia, Vietnam, Malaysia, Thailand, Brunei and the Philippines. During 2023, around 13% of Boeing’s revenues came from the Asian region. On Feb 20, 2024, Boeing received an order from Royal Brunei Airlines for four 787 Dreamliners. Such developments should increase the company’s profitability in the Southeast Asian aviation market in the coming days.Story continuesPeer ProspectsA couple of other aerospace players that can gain from the expanding aviation market in the Southeast Asian region are Airbus SE EADSY, General Dynamics GD and Textron TXT.Airbus has a long-standing presence in Indonesia, Malaysia, Singapore, Vietnam, Philippines and Thailand. During 2023, the Asia-Pacific region accounted for 32% of Airbus’ commercial aircraft deliveries. Thai Airways International is among the longest standing customers of Airbus.EADSY boasts a long-term (three to five years) earnings growth rate of 12.4%. The Zacks Consensus Estimate for 2024 sales indicates an improvement of 10.8% from that reported in 2023.General Dynamics’ unit, Gulfstream Aerospace, has a solid presence worldwide. Coming to the Southeast Asian region, the company announced on Feb 8, 2024, that its all-new ultra large-cabin Gulfstream G700 will make its Singapore Airshow debut. Previously, in September 2023, the G280 and G600 had been showcased at the Malaysian air show.GD boasts a long-term earnings growth rate of 10.8%. The Zacks Consensus Estimate for 2024 sales indicates an improvement of 8.9% from that reported in 2023.Textron’s unit, Textron Aviation, offers a wide range of commercial aircraft solutions. The Asia Pacific region is home to nearly 400 Textron Aviation jets and more than 1,000 Textron Aviation turboprops. In February 2024, Textron Aviation delivered the new Cessna Grand Caravan EX Amphibian turboprop in Malaysia. During the Singapore Airshow, the company will showcase the Beechcraft King Air 360, the Cessna Grand Caravan EX, the Citation Latitude, the Citation CJ4 Gen2 and the Citation M2 Gen2.TXT boasts a long-term earnings growth rate of 11.7%. The Zacks Consensus Estimate for 2024 sales indicates an improvement of 7% from that reported in 2023.Price PerformanceIn the past year, shares of BA have gained 0.2% against the industry’s 8.7% decline.Zacks Investment ResearchImage Source: Zacks Investment ResearchZacks RankBoeing currently has a Zacks Rank #4 (Sell).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportThe Boeing Company (BA) : Free Stock Analysis ReportGeneral Dynamics Corporation (GD) : Free Stock Analysis ReportTextron Inc. (TXT) : Free Stock Analysis ReportAirbus Group (EADSY) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Boeing (BA) Wins Order for 45 787 Jets From Thai Airways

https://finance.yahoo.com/news/boeing-ba-wins-order-45-135700345.html

edc8ffa5-65f9-3d34-9e78-a08eec411323

TXT

Here are three stocks with buy ranks and strong growth characteristics for investors to consider today, February 27:Powell Industries, Inc. POWL: This custom-engineered equipment and systems company carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 44.2% over the last 60 days.Powell Industries, Inc. Price and ConsensusPowell Industries, Inc. Price and ConsensusPowell Industries, Inc. price-consensus-chart | Powell Industries, Inc. QuotePowell Industries has a PEG ratio of 1.53 comparedwith 1.58 for the industry. The company possesses a Growth Score of A.Powell Industries, Inc. PEG Ratio (TTM)Powell Industries, Inc. PEG Ratio (TTM)Powell Industries, Inc. peg-ratio-ttm | Powell Industries, Inc. QuoteCardinal Health, Inc. CAH: This healthcare services and products company has seen the Zacks Consensus Estimate for its current year earnings increasing 5.7% over the last 60 days.Cardinal Health, Inc. Price and ConsensusCardinal Health, Inc. Price and ConsensusCardinal Health, Inc. price-consensus-chart | Cardinal Health, Inc. QuoteCardinal Health has a PEG ratio of 0.94 compared with 2.35 for the industry. The company possesses a Growth Score of A.Cardinal Health, Inc. PEG Ratio (TTM)Cardinal Health, Inc. PEG Ratio (TTM)Cardinal Health, Inc. peg-ratio-ttm | Cardinal Health, Inc. QuoteTextron Inc. TXT: This company that operates in the aircraft, defense, industrial, and finance businesses carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 6.1% over the last 60 days.Textron Inc. Price and ConsensusTextron Inc. Price and ConsensusTextron Inc. price-consensus-chart | Textron Inc. QuoteTextron has a PEG ratio of 1.20 compared with 3.83 for the industry. The company possesses a Growth Score of B.Textron Inc. PEG Ratio (TTM)Textron Inc. PEG Ratio (TTM)Textron Inc. peg-ratio-ttm | Textron Inc. QuoteSee the full list of top ranked stocks here. Learn more about the Growth score and how it is calculated here.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportStory continuesTextron Inc. (TXT) : Free Stock Analysis ReportCardinal Health, Inc. (CAH) : Free Stock Analysis ReportPowell Industries, Inc. (POWL) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Best Growth Stocks to Buy for February 27th

https://finance.yahoo.com/news/best-growth-stocks-buy-february-080100413.html

7c567e0e-0d6c-3eea-b6a3-d5b331a2578d

TXT

In this article, we look at 15 countries with the most special-mission aircraft in the world. You can skip our detailed analysis on trends in the aerospace industry with a focus on some of leading companies operating in the market, and head over directly to the 5 Countries with the Most Special-Mission Aircraft in the World.Special-mission aircraft are designed to perform roles beyond traditional military combat missions, such as reconnaissance, surveillance, aerial refueling, maritime patrol, and humanitarian aid, among several other reasons for flying them. According to a report in the Globe Newswire, the market size for special-mission aircraft was valued at over $15 billion in 2022, and is projected to grow at a CAGR of 4.74% to touch $24 billion by 2032. Experts believe the demand for these aircraft is driven by an increased need for aerial surveillance of military operations.Textron Inc. (NYSE:TXT) is one of the leading companies in the industry and manufactures a variety of special-mission aircraft. Its Super King Air family has been produced since 1974 by its subsidiary, Beechcraft, which has widely been used by militaries across the world. Currently, Textron Inc. (NYSE:TXT) offers the 250 and 350 models for government and commercial use. The King Air 350ER has been designed to meet several challenging needs of special operations, ranging from pilot training and surveillance to maritime patrol and air ambulance. The aircraft has a payload capacity of more than 1,600 kg and is powered by two engines, with a maximum speed of 561 km/h. About 107 King Air 350/200 aircraft are currently in service with the United States military for its special operations. Earlier this month, Canada received the delivery of the first of three King Air 350ER ordered from Textron Inc. (NYSE:TXT) for military use in 2019. The remaining two are scheduled to be delivered by the end of 2024.Another major player in the industry is The Boeing Company (NYSE:BA), which has built the E-3 AWACS. The aircraft is designed to carry out airborne surveillance as well as the C3 functions – command, control, and communication for air defense forces. The E-3 was first introduced in 1977. A total of 33 aircraft were operated by the US Air Force (USAF) as of 2020.Story continuesThe aircraft’s radar surveillance capabilities include a 360 degrees view of the horizon through its look-down radar, along with a range of 320 kilometers, which help in identifying targets in the air and sea, both. NATO’s early warning force also has a fleet of 14 E-3A aircraft. The Boeing Company (NYSE:BA) in 2019 received a $1 billion contract from NATO to modernize its aircraft fleet to keep it going till 2035.The Boeing Company (NYSE:BA) is also the producer of the E-7 Wedgetail airborne early warning and control aircraft, which was primarily built for the Australian Air Force, but is now in use by South Korea and Turkiye as well. According to FlightGlobal, the USAF has 26 of these on order. The twin-engine special-mission aircraft is based on the 737 Next Generation design and is lighter than the E-3 Sentry.Northrop Grumman Corporation (NYSE:NOC)’s E-2 Hawkeye still remains a hot-seller in the market. The tactical airborne early warning aircraft, which is also carrier-capable, was first introduced in 1964. The E-2D Advanced Hawkeye is its latest variant, and was launched in 2007. 88 units of the new version are currently in use around the world. Northrop Grumman Corporation (NYSE:NOC) has enhanced the capabilities of the aircraft with the addition of a new AN/APY-9 radar, which offers electronic scanning capabilities to see small targets from a distance.According to Naval News, the US Navy awarded a contract to Northrop Grumman Corporation (NYSE:NOC) for the procurement of 24 E-2D Advanced Hawkeye aircraft between 2019 and 2023. Japan also has 13 more on order after receiving five already between 2019 and 2022. France is also purchasing three E-2Ds to replace the E-2C Hawkeyes currently in service.15 Countries with the Most Special-Mission Aircraft in the WorldMichael Fitzsimmons/Shutterstock.comMethodologyCountries with the most special-mission aircraft in the world are ranked in ascending order of their fleet size. Data has been sourced from FlightGlobal’s 2024 World Air Forces Directory. In cases where two or more countries had the same number of aircraft in their fleet, we outranked one over the other based on the capabilities of their special-mission aircraft.If interested, you can also take a look at 15 Countries with the Most Attack Helicopters in the World and 20 Countries with Most Bombers and Superior Air Force.By the way, Insider Monkey is an investing website that tracks the movements of corporate insiders and hedge funds. By using a similar consensus approach, we identify the best stock picks of more than 900 hedge funds investing in US stocks. The top 10 consensus stock picks of hedge funds outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here). Whether you are a beginner investor or professional one looking for the best stocks to buy, you can benefit from the wisdom of hedge funds and corporate insiders.With that said, let's now head over to the list of countries with the most special-mission aircraft in the world.15 Countries with the Most Special-Mission Aircraft in the World:15. PakistanSpecial-Mission Aircraft: 25Pakistan has 25 special-mission aircraft, of which 11 are operated by the Air Force, 3 by the Army, while the remaining 11 are in use by the Navy. Some of the most notable aircraft used by Pakistan for its special military operations include Dassault Aviation’s Falcon 20, Saab 340 AEW&C, Shaanxi Y-8, and King Air 350, among others. The country is among the strongest in the world for military power. You can read more on this here. 14. MexicoSpecial-Mission Aircraft: 25Next on our list of countries with the most special-mission aircraft in the world is Mexico, which has a fleet of 25 aircraft. About half of these were procured from Indonesia. These are 7 C212 and 6 CN235. Other special-mission aircraft operated by Mexico include 7 King Air 350, 3 Brazilian ERJ-145, and one Cessna Citation I.13. United KingdomSpecial-Mission Aircraft: 26The main special-mission aircraft operated by the Royal Air Force is Boeing’s P-8 Poseidon. It is one of the most advanced aircraft for intelligence and reconnaissance purposes, and is also capable of anti-submarine and anti-surface warfare. Other special-mission aircraft operated by the UK include King Air 350, RC-135W, and AW101 Merlin.12. CanadaSpecial-Mission Aircraft: 26Canada’s fleet of 26 special-mission aircraft include 14 CP-140 Aurora and 7 C-130 Hercules, both built by the Lockheed Martin Corporation (NYSE:LMT). Besides this, the Canadian Air Force also operates 5 C-295 manufactured by Spanish company CASA which was absorbed into Airbus in 2009.11. ColombiaSpecial-Mission Aircraft: 27Next up on our list is Colombia, with 27 special-mission aircraft. A majority of these aircraft are in service of the Air Force, including 6 Basler BT-67, 6 Cessna 208, 5 Citation Ultra, 3 King Air 350, and 1 CN235. The Colombian army and navy operate four and two aircraft for special operations, respectively. 10. ItalySpecial-Mission Aircraft: 28Italy’s fleet of special-mission aircraft comprises 13 Tornado ECR. The electronic combat and reconnaissance aircraft was jointly built by Italy, the United Kingdom, and Germany. The country also operates several locally, Leonardo-built aircraft, including 4 ATR 72 and 3 C-27J. Other special-mission aircraft in service of the Italian military are General Dynamics Corporation (NYSE:GD)’s Gulfstream G550 and Textron’s King Air 350.9. AustraliaSpecial-Mission Aircraft: 32All of Australia’s special-mission aircraft are operated by the Royal Australian Air Force. The majority of the fleet’s aircraft are built by Boeing. These include 12 EA-18G Growler, a specialized version of the F/A-18F Super Hornet; 12 P-8 Poseidon with another three on order; and 6 E-7 Wedgetail. The fleet also has three AP-3C Orion special-mission aircraft manufactured by Lockheed Martin Corporation (NYSE:LMT). According to FlightGlobal, Australia has between 3-4 Gulfstream G550 aircraft on order with General Dynamics Corporation (NYSE:GD).8. South KoreaSpecial-Mission Aircraft: 33South Korea is among countries with the most special-mission aircraft in the world. Nineteen of the 33 aircraft are operated by the Navy, while 14 are in service of the Air Force. Combined, 16 of these comprise Lockheed Martin Corporation (NYSE:LMT)’s four-engined, maritime surveillance and anti-submarine aircraft, the P-3 Orion. It also has 8 Hawker 800, 4 Boeing E-7 Wedgetail, 3 P-8 Poseidon, and 2 Falcon 2000 in its fleet.7. GermanySpecial-Mission Aircraft: 37Germany operates 37 special-mission aircraft, of which 30 are the Tornado ECR (EW) built by the Panavia Aircraft, as part of a joint project involving Germany, Italy, and the United Kingdom. The country also uses four Lockheed P-3 Orion, two Dornier 228, and an A319 for its special operations. In 2022, Bombardier announced the conversion of three Global 6000 business jets to spy planes for the German military. The order is set for delivery in 2026.6. FranceSpecial-Mission Aircraft: 44France is sixth on our list of countries with the most special-mission aircraft in the world, with a fleet size of 44. Most of the aircraft are locally-built by Dassault Aviation, and comprise Falcon 20, Falcon 50, and the Atlantique 2. Aircraft procured from overseas by France and used for special military operations include three Northrop Grumman E2 Hawkeyes (both C and D variants), along with Textron’s King Air 350, and Boeing E-3 Sentry.Click to continue reading and see the 5 Countries with the Most Special-Mission Aircraft in the World.Suggested Articles:11 Countries with the Highest Number of Military Special Forces in the World15 Militaries with the Most Armored Fighting Vehicles in the World25 Countries with the Strongest Armies in the WorldDisclosure: None. 15 Countries with the Most Special-Mission Aircraft in the World is originally published on Insider Monkey.

Insider Monkey

15 Countries with the Most Special-Mission Aircraft in the World

https://finance.yahoo.com/news/15-countries-most-special-mission-031105925.html

4c13cbb6-8c3a-303e-a287-0ba4437ce072

TXT

By Allison LampertMONTREAL, March 11 (Reuters) - Honeywell said it will ask Canada's top court to hear an engine pricing case involving business jet maker Bombardier, in a dispute that has raised concerns among rival planemakers about revealing confidential terms of business negotiations.It comes after a Quebec judge in December ordered Honeywell to share records containing engine pricing information with an independent auditor, creating a stir within the discrete world of business jet manufacturing, industry sources said.The Quebec Court of Appeal last month refused Honeywell's request to immediately hear the case.Honeywell "intends to pursue relief before the Supreme Court of Canada in the appropriate time," the company said in an emailed statement to Reuters. Canada's Supreme Court selects which cases it hears and it is unclear whether Honeywell will succeed in its efforts.Bombardier, which uses Honeywell engines in its popular Challenger 350 business jets, has alleged the U.S. supplier of was selling propulsion systems to its rivals on more favorable terms, despite guarantees that the Canadian planemaker would get the best price, according to court filings.Engine pricing, a key cost in business jet production, often comes with steep discounts and is guarded closely between suppliers and planemakers to avoid giving a competitive advantage to rivals.The court order is raising fears that an audit could reveal sensitive information about rivals like Textron Inc and General Dynamics Corp's Gulfstream Aerospace, according to filings and sources.It is the latest dispute over such concerns in aerospace.A recent court dispute between Airbus and Qatar Airways triggered a three-way battle with Boeing over who could see one of the U.S. planemaker’s contracts with the airline.Such court cases, which were relatively rare before the pandemic, have shone a spotlight on the inner workings of the $150 billion global jet industry.Story continuesIn its February 15 decision, the Quebec Court of Appeal also refused Cessna business jet maker Textron's request to act as an intervenor. Textron had argued that steps like using an auditor don't adequately protect information "which risks being found in the hands of its rivals, primarily Bombardier," filings show.Textron and Gulfstream declined comment.Bombardier said it welcomed the February 15 decision by the Court of Appeal, in line with the original ruling and would contest any motion to seek leave to appeal to the Supreme Court of Canada. (Reporting By Allison Lampert in Montreal, Additional reporting by Tim Hepher in Paris, Editing by Nick Zieminski Editing by Denny Thomas and Nick Zieminski)

Reuters

Honeywell will seek 'relief' on Bombardier engine pricing case at Canada's top court

https://finance.yahoo.com/news/honeywell-seek-relief-bombardier-engine-110000131.html

c96bd17b-f669-37b8-864e-955b67bbdb1f

TYL

Robust recurring revenue streams from a diverse public sector client base.Strong competitive position with integrated software solutions and platform technologies.Opportunities for growth in a fragmented public sector IT market.Challenges from cybersecurity threats and intense competition.On February 21, 2024, Tyler Technologies Inc (NYSE:TYL) filed its annual 10-K report, providing a comprehensive overview of its financial performance and strategic positioning. As a leading provider of integrated software and technology solutions for the public sector, Tyler Technologies reported a solid revenue backlog of approximately $2.03 billion, up from $1.89 billion the previous year. This backlog, with nearly 46% expected to be recognized in 2024, underscores the company's strong financial foundation and the recurring nature of its revenue streams. With a market capitalization of over $17 billion as of June 30, 2023, and a workforce of approximately 7,300 team members, Tyler Technologies is well-positioned to capitalize on its strengths and navigate its weaknesses in the dynamic public sector IT landscape.Warning! GuruFocus has detected 8 Warning Signs with TYL.Decoding Tyler Technologies Inc (TYL): A Strategic SWOT InsightStrengthsMarket Leadership and Recurring RevenueTyler Technologies Inc (NYSE:TYL) has established itself as a market leader in the public sector IT space, with a broad range of software solutions and services designed to meet the complex needs of government entities at various levels. A key strength lies in its deep, long-term relationships with state and local government agencies, which have translated into a significant base of recurring revenue. The company's revenue backlog, which has increased to approximately $2.03 billion, is a testament to the enduring demand for its offerings. This backlog not only provides visibility into future earnings but also reflects the trust and reliance that government clients place in Tyler Technologies' solutions.Comprehensive Product Portfolio and ServicesStory continuesTyler Technologies' strength is further bolstered by its comprehensive product portfolio, which includes transformative platform technologies such as its market-leading payments platform, data platform, low-code application development platform, and digital resident experience solutions. The company's ability to offer an integrated system of applications for several government offices or departments often serves as a competitive advantage, distinguishing it from competitors who may offer more fragmented solutions. This integration facilitates seamless operations for clients, enhancing Tyler Technologies' value proposition and fostering client loyalty.WeaknessesDependence on Public Sector MarketWhile Tyler Technologies Inc (NYSE:TYL) benefits from its specialization in the public sector, this focus also represents a potential weakness. The company's reliance on government contracts exposes it to the risks associated with public sector budget constraints, changes in political climate, and legislative shifts that could impact funding for IT projects. These factors can lead to fluctuations in contract awards and renewals, which may affect the company's financial stability and growth prospects. Moreover, the long and complex sales cycles typical of government contracts could result in delays in revenue recognition and cash flow challenges.Intense Competition and Technological AdvancementsThe IT industry is characterized by rapid technological advancements and intense competition. Tyler Technologies faces stiff competition from both specialized firms and large national companies with greater financial and technical resources, such as Oracle Corporation and SAP AG. The company must continuously innovate and enhance its product offerings to maintain its competitive edge. Failure to keep pace with technological changes or to anticipate client needs could lead to obsolescence of its products and services, potentially eroding its market share and weakening its competitive position.OpportunitiesExpansion into New Public Sector MarketsThe fragmented nature of the public sector IT market presents significant opportunities for Tyler Technologies to expand its client base. With thousands of potential clients across federal agencies, states, counties, cities, towns, and school districts, the company can leverage its existing relationships and reputation to penetrate new segments and increase market share. Strategic partnerships and acquisitions could also facilitate entry into new markets, enabling Tyler Technologies to diversify its revenue sources and reduce dependence on any single market segment.Growing Demand for Cloud and Digital ServicesThere is a growing trend among government entities to modernize their IT infrastructure and embrace digital transformation. Tyler Technologies is well-positioned to capitalize on this trend, with its cloud-based software deployment and digital government services. The company's investments in AWS cloud certification training for its team members and its focus on developing cloud skills across the workforce indicate a strategic commitment to meeting the evolving demands of the public sector. By expanding its cloud and digital offerings, Tyler Technologies can attract new clients and deepen engagement with existing ones.ThreatsCybersecurity RisksIn an era where cyber threats are increasingly sophisticated, Tyler Technologies must navigate the risks associated with data breaches and IT security disruptions. The company's handling of sensitive government data makes it a potential target for cyber-attacks, which could compromise client trust and result in financial and reputational damage. Proactive measures and investments in cybersecurity are essential to mitigate these threats and ensure the integrity of its services.Economic and Political UncertaintiesEconomic downturns and political uncertainties can lead to reduced public sector spending and delayed IT projects, posing a threat to Tyler Technologies' revenue growth. Government budget cuts or reallocations can impact the funding available for new contracts and the renewal of existing ones. Additionally, changes in administration or policy priorities could alter the landscape in which Tyler Technologies operates, necessitating agility and adaptability in its business strategy.In conclusion, Tyler Technologies Inc (NYSE:TYL) exhibits a robust combination of strengths, including a strong market position and a comprehensive suite of products and services, which provide a solid foundation for growth. However, the company must remain vigilantThis article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.This article first appeared on GuruFocus.

GuruFocus.com

Decoding Tyler Technologies Inc (TYL): A Strategic SWOT Insight

https://finance.yahoo.com/news/decoding-tyler-technologies-inc-tyl-050936608.html

a4c1a412-cf22-34d7-86c6-3196cdc83e46

TYL

Employees nationwide recommended Tyler as a top employerPLANO, Texas, February 22, 2024--(BUSINESS WIRE)--Tyler Technologies, Inc. (NYSE: TYL) was recently named to Forbes’ ‘America’s Best Large Employers’ list for 2024. This marks the first time Tyler has been included on this list; the company has previously been named to Forbes’ Best Midsize and Best Small Employers lists a total of 11 times in the past."It is exciting to be recognized by Forbes as a top employer and equally exciting to see Tyler’s growth over the years from the small to midsize to large company category," said Lynn Moore, president and CEO of Tyler. "Even though we have grown in size, we have remained committed to our mission of empowering the public sector to create smarter, safer, and stronger communities. We work hard to support our great employees, 27% of whom have worked at Tyler for more than ten years."In collaboration with analytics firm Statista, Forbes selected America’s Best Large Employers based on an independent survey of more than 170,000 U.S. employees from industry sectors working for companies employing at least 5,000 people within the U.S. Over 3.5 million employer evaluations were considered in creation of the Best Large Employers list.Tyler was recognized as one of 600 large companies in various industries, including banking and financial services, education, healthcare, information technology, professional services, and transportation.About Tyler Technologies, Inc.Tyler Technologies (NYSE: TYL) provides integrated software and technology services to the public sector. Tyler’s end-to-end solutions empower local, state, and federal government entities to operate efficiently and transparently with residents and each other. By connecting data and processes across disparate systems, Tyler’s solutions transform how clients turn actionable insights into opportunities and solutions for their communities. Tyler has more than 40,000 successful installations across nearly 13,000 locations, with clients in all 50 states, Canada, the Caribbean, Australia, and other international locations. Tyler has been recognized numerous times for growth and innovation, including Government Technology’s GovTech 100 list. More information about Tyler Technologies, an S&P 500 company headquartered in Plano, Texas, can be found at tylertech.com.Story continues#TYL_GeneralView source version on businesswire.com: https://www.businesswire.com/news/home/20240222076862/en/ContactsJennifer KeplerTyler [email protected]

Business Wire

Tyler Technologies Named to Forbes’ ‘America’s Best Large Employers’ List

https://finance.yahoo.com/news/tyler-technologies-named-forbes-america-141700641.html

56fa7106-ba5c-3a9e-aa59-9e2a35172271

TYL

Five-year contract builds on existing 12-year relationship with the statePLANO, Texas, March 05, 2024--(BUSINESS WIRE)--Tyler Technologies, Inc. (NYSE: TYL) announced today that it has signed an agreement with the state of Maryland for Tyler’s award-winning digital government solutions and services following a competitive procurement process.The five-year contract, which may be extended for five additional years at the state’s option, builds upon the existing 12-year relationship between Maryland and Tyler’s Digital Solutions Division. The agreement features a fully cloud-hosted infrastructure and includes delivering on Maryland’s goals of secure, scalable, platform solutions accessible to all Marylanders.Tyler currently provides more than 160 digital government services in the state of Maryland, working with 110 government entities. Among those services are the award-winning Maryland Business Express and Maryland.gov, the state’s official website."We are proud to support the state of Maryland in providing best-in-class technology to residents and businesses," said Nancy Schmid, general manager for Tyler’s Maryland state enterprise. "I know the work we do in partnership with the state will continue to positively impact people across Maryland."About Tyler Technologies, Inc.Tyler Technologies (NYSE: TYL) provides integrated software and technology services to the public sector. Tyler’s end-to-end solutions empower local, state, and federal government entities to operate efficiently and transparently with residents and each other. By connecting data and processes across disparate systems, Tyler’s solutions transform how clients turn actionable insights into opportunities and solutions for their communities. Tyler has more than 40,000 successful installations across nearly 13,000 locations, with clients in all 50 states, Canada, the Caribbean, Australia, and other international locations. Tyler has been recognized numerous times for growth and innovation, including Government Technology’s GovTech 100 list. More information about Tyler Technologies, an S&P 500 company headquartered in Plano, Texas, can be found at tylertech.com.Story continues#TYL_FinancialView source version on businesswire.com: https://www.businesswire.com/news/home/20240305041012/en/ContactsJennifer KeplerTyler [email protected]

Business Wire

Tyler Technologies Signs Agreement for Digital Government Solutions in Maryland

https://finance.yahoo.com/news/tyler-technologies-signs-agreement-digital-141700297.html

e80b20b1-23d3-31ec-a01b-9725fb53e25b

TYL

Tyler Technologies Inc (NYSE:TYL) President and CEO MOORE H LYNN JR sold 3,851 shares of the company on March 8, 2024, according to a recent SEC filing. The transaction was executed at an average price of $422.58 per share, resulting in a total sale amount of $1,627,430.58.Tyler Technologies Inc is a provider of integrated software and technology services to the public sector, including cities, counties, states, and school districts. The company offers a comprehensive suite of solutions that address the complex needs of government entities in areas such as information management, public safety, and finance.Over the past year, MOORE H LYNN JR has sold a total of 43,756 shares of Tyler Technologies Inc and has not made any share purchases. This latest transaction continues a pattern of insider sales at the company, with a total of 35 insider sells and no insider buys occurring over the past year.Insider Sell: President and CEO MOORE H LYNN JR Sells Shares of Tyler Technologies Inc (TYL)The insider transaction history suggests a consistent selling trend among insiders at Tyler Technologies Inc. The absence of insider purchases over the same timeframe may be of interest to shareholders and potential investors.In terms of valuation, Tyler Technologies Inc's shares were trading at $422.58 on the day of the insider's recent sale, giving the company a market capitalization of $18.128 billion. The price-earnings ratio stands at 110.24, which is significantly higher than the industry median of 27.77 and also above the company's historical median price-earnings ratio.Insider Sell: President and CEO MOORE H LYNN JR Sells Shares of Tyler Technologies Inc (TYL)The stock's price-to-GF-Value ratio is 0.98, with a GF Value of $429.60, indicating that Tyler Technologies Inc is fairly valued based on the GF Value metric. The GF Value is calculated considering historical trading multiples, a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from Morningstar analysts.Investors and analysts often monitor insider transactions as they can provide insights into a company's internal perspective on the stock's valuation and future prospects. The consistent pattern of insider sales at Tyler Technologies Inc, particularly from the President and CEO, may be a factor for market participants to consider in their assessment of the company.Story continuesWarning! GuruFocus has detected 7 Warning Signs with TYL.This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.This article first appeared on GuruFocus.

GuruFocus.com

Insider Sell: President and CEO MOORE H LYNN JR Sells Shares of Tyler Technologies Inc (TYL)

https://finance.yahoo.com/news/insider-sell-president-ceo-moore-041126110.html

c36d970d-b71d-3ba4-84a7-6abdc3630966

UAL

In this article, we will discuss the 20 Best Kept Secret Places to Visit in USA. You can skip our detailed analysis of the tourism and travel industry, and go directly to the 5 Best Kept Secret Places to Visit in USA.The art of tourism involves exploring uncharted territory, finding comfort in the embrace of unfamiliar surroundings, and fully integrating oneself into the tapestry of various civilizations. This voyage has the power to transform, revealing hidden gems, igniting the spirit of adventure, and cultivating a deep connection with the natural world.The worldwide tourism market is projected to surge at a CAGR of 5% over the next ten years, with an estimated value of $10.5 trillion in 2022. It is anticipated by analysts at Future Market Insights that the tourism market would reach an estimated value of $17.1 trillion in 2032. It is predicted that the proliferation of new trends like adventure tourism, art tourism, and so forth will speed up the development of the global tourist sector. Adventure tourism, which includes activities like rock climbing, mountaineering, excavation, kayaking, and other sports, has been an important driver of the tourism market share in recent years. Second, the use of tourist websites plays a crucial role in the management and monetization of all forms of tourism. It is additionally expected that social networking sites' growing popularity would present a great opportunity for the expansion of the travel industry.Countries with a thriving tourism industry, including the United States, France, and other European nations, are among the most renowned travel destinations worldwide. However, in recent years, several lesser-known Asian and African nations have emerged in popularity as getaways for foreigners, as per Future Market Insights. To take advantage of the possible financial gains from this shift, global travel service providers are realigning their services.According to a recent survey conducted by Forbes, despite facing challenges, travel remained popular among Americans in 2023, with an average of 2.1 leisure trips per person. Out of the respondents, 36% took three or more trips. Looking ahead to 2024, 92% of participants expressed their intention to either maintain or increase their travel plans, although there was a slight decrease compared to the previous year. Specifically, 40% planned to take more trips, down from 49% in 2023. Notably, 39% of respondents anticipated spending more on travel, indicating resilience in their budgets, albeit slightly lower than the 45% reported last year.Story continuesIn light of concerns over inflation, 46% of participants adjusted their travel plans. This adjustment included 19% opting for fewer trips and 18% favoring road trips over flying. Additionally, the utilization of travel benefits on credit cards decreased from 66% in 2023 to 57% in 2024, reflecting evolving financial strategies in response to changing economic shifts.Despite economic pressures, the desire to travel remains a top priority across generations, particularly among Gen Z and Millennials. A significant 56% and 49% of these age groups, respectively, have expressed plans to embark on more trips. As for popular travel choices in 2024, visiting family and friends takes the lead with 46%, followed by beach vacations at 36% and road trips at 34%.Amid inflation concerns, 30% of respondents are uncertain about changing their travel plans, adopting a cautious approach. Travelers prioritize experiences despite economic uncertainty, utilizing reward points and looking for ways to cut costs. As reported by the European Travel Commission, in 2023, European tourism showed promising signs of recovery, nearly reaching pre-pandemic levels despite visitors being 1.6% lower than in 2019. However, a 23% inflation surge significantly impacted travel expenses, particularly with a 49% increase in international flight costs and a 35% rise in hotel rates. While Southern Europe experienced robust growth, Eastern Europe lagged. Notwithstanding a major 67% decline in Chinese arrivals in contrast to 2019, North American markets rebounded. Despite pricing challenges, Europeans prioritize safe and affordable destinations. The European Travel Commission additionally forecasts that the travel industry will persist and expand in 2024, with a focus on sustainability throughout this period of transition. As we shed light on sustainability, recently, The Sustainable Flight Fund of United Airlines Holdings Inc. (NASDAQ:UAL) has surpassed $200 million in investments, marking a noteworthy landmark. United Airlines Holdings Inc. (NASDAQ:UAL) business partners, which emphasize working together to address environmental issues, include Aircastle, Air New Zealand, and Alphabet Inc. They represent various sectors within the aviation supply chain. Furthermore, since February 2023, over 115,000 United Airlines Holdings Inc (NASDAQ:UAL) customers have donated almost $500,000, demonstrating the broad support that the company has received for sustainable initiatives. In addition to establishing strategic investments exceeding $200 million, the Sustainable Flight Fund has attracted 22 business partners. Notably, portfolio companies like EH2 and Cemvita are pushing the technology development and manufacturing of sustainable aviation fuel (SAF). United Airlines Holdings Inc. (NASDAQ:UAL) has included a contribution option in its booking process to involve customers in addressing climate change.Acknowledging the significance of SAF in reducing air travel's carbon footprint, United Airlines Holdings Inc. (NASDAQ:UAL) is leading the way in creative solutions, including collaborations and customer involvement. By funding businesses, this innovative project seeks to lower emissions and advance the production of sustainable aviation fuel (SAF).Another renowned US-based company is Airbnb, Inc. (NASDAQ:ABNB) which runs an online marketplace for experiences and short- and long-term home stays. In 2023, Airbnb, Inc. (NASDAQ:ABNB) acquired GamePlanner.AI, an artificial intelligence company started by Adam Chyler, the man behind Siri. The latter is an AI startup with 12 employees that has been prospering outside of the public eye since it was founded.The acquisition price and the terms of the arrangement were not disclosed by Airbnb, Inc. (NASDAQ:ABNB). However, CNBC reported, citing people involved with the negotiations, that the deal was valued at "just under $200 million." According to Airbnb, the GamePlanner.AI team will incorporate its tools into the platform and concentrate on boosting specific AI initiatives at Airbnb. Therefore, this demonstrates the company's seriousness about its dedication to incorporating AI.With that said, here are the 20 Best Kept Secret Places to Visit in USA.20 Best Kept Secret Places to Visit in USASusan Hoffman/Shutterstock.comMethodology:To pick out the 20 Best Kept Secret Places to Visit in USA, we have used a consensus-based approach using a variety of credible sources to determine the best-kept secret locations. To give you the finest result possible, we picked places from numerous forums on Reddit, as well as websites such as Travel & Leisure and Via Travellers amongst others, assigned them a score based on their number of appearances, and ranked them accordingly.By the way, Insider Monkey is an investing website that tracks the movements of corporate insiders and hedge funds. By using a similar consensus approach, we identify the best stock picks of more than 900 hedge funds investing in US stocks. The top 10 consensus stock picks of hedge funds outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here). Whether you are a beginner investor or a professional one looking for the best stocks to buy, you can benefit from the wisdom of hedge funds and corporate insiders. 20. Estes Park, Colorado   Insider Monkey Points: 2Situated amidst the majestic and iconic Rocky Mountains, Estes Park, Colorado, located 90 miles northwest of Denver, provides magnificent scenery and outdoor activities such as hiking and observing wildlife. It is a well-liked vacation spot for outdoor enthusiasts and nature lovers. The picturesque downtown area with its stores, eateries, and galleries is open for exploration by tourists. Estes Park is among the places that are very special to the United States.19. Black Hills National Forest, South Dakota Insider Monkey Points: 2The vast Black Hills National Forest, which is 125 miles long and 65 miles wide, is located in northeastern Wyoming and western South Dakota. It is home to Black Elk Peak, the highest peak in the state of South Dakota, at 7,244 feet. This area features rough rock formations, gulches, and canyons, wide-open grasslands, cascading streams, clear blue lakes, and unusual caves. Travelers can take leisurely drives, trek through pine forests, and observe the magnificent wildlife that inhabits this region. Black Hills National Forest is one of the secret vacation spots in South Dakota. 18. Molokai, HawaiiInsider Monkey Points: 2For travelers seeking an unforgettable Hawaiian island adventure, Molokai, a hidden gem that is the fifth largest of the Hawaiian Islands, offers an ideal destination. Rich in Hawaiian culture and genuine experiences, Molokai caters to those desiring to explore some of the most pristine and unspoiled natural landscapes in the Hawaiian archipelago. It is one of the least visited places in the US and a hidden gem vacation spot in the world. 17. Santa Rosa Beach, FloridaInsider Monkey Points: 2Santa Rosa Beach, an appealing town in Florida on the Gulf of Mexico, is celebrated for its immaculate white sand beaches and emerald waters. An array of recreational activities are available to visitors, including swimming, kayaking, and paddleboarding. They can also explore quaint seaside towns and dine at waterfront restaurants. Santa Rosa Beach offers a typical Florida beach vacation with its natural beauty and laid-back vibe. Santa Rose is one of the most unique places to visit in the US.16. San Juan Island, Washington Insider Monkey Points: 2Located in northwest Washington, the United States, San Juan Island is the second largest and most densely populated of the San Juan Islands. As of the 2020 census, 8,632 people called this land area home. Washington's San Juan Island is a tranquil island retreat notable for its breathtaking scenery and plethora of species. Tourists can discover the stunning coastal scenery, trek scenic trails, and observe whales from the shore. Charming towns provide local cuisine and cultural attractions, making San Juan Island an ideal getaway for leisure and outdoor pursuits. 15. Holland, MichiganInsider Monkey Points: 2Unknown to many, Michigan's Holland is a vibrant city known for its beautiful scenery and extensive Dutch culture. Holland, which is home to the yearly Tulip Time Festival, is recognized for its breathtaking tulip fields and historic windmills that are a throwback to its Dutch heritage. In addition to taking in the beautiful panorama of the Lake Michigan shoreline, visitors can stroll through the quaint downtown streets that are dotted with unique shops and cafes. Holland is a charming place to visit because it provides a beautiful fusion of culture, history, and scenic beauty. 14. Gardens of the Gods, ColoradoInsider Monkey Points: 2When surveyor Rufus Cable first laid eyes on the towering fins of rock rising more than 300 feet into the air at Pikes Peak in 1859, he exclaimed with enthusiasm that it was "a fit place for the gods to assemble!" This enthusiastic outburst inspired the name Garden of the Gods, which we now know for this gorgeous Colorado Springs park. The Garden of the Gods is a natural wonder known for its enormous red rock formations and breathtaking natural beauty. Wander along the park's picturesque paths, which give sweeping vistas of the soaring sandstone formations against Pikes Peak and the Rocky Mountains in the distance. The Garden of the Gods is an essential stop for outdoor enthusiasts and nature lovers alike because of its distinctive rock formations, varied species, and extensive history.13. Hawaii Volcanoes National Park Insider Monkey Points: 3 Hawaii Volcanoes National Park, located on the Big Island of Hawaii, is a breathtaking natural wonder known for its active volcanoes and unique ecosystems. The prominent Kilauea and Mauna Loa volcanoes, as well as steam vents and lava tubes, are among the striking landscapes sculpted by volcanic activity that are visible to visitors in the park. In one of the most distinctive settings on earth, this park enables tourists to explore the evolving forces of nature and Hawaiian heritage through hikes, scenic drives, and cultural experiences. It is one of the most beautiful hidden places in the world. 12. Fredericksburg in TexasInsider Monkey Points: 3Nestled in the Texas Hill Country, Fredericksburg is a captivating town distinguished for its appealing beauty, German heritage, and wineries. Popular attractions, including the National Museum of the Pacific War, Texas Wine Country, world-class shopping, and Enchanted Rock State Natural Area, are all found in Fredericksburg. Fredericksburg provides a lovely getaway for visitors, as it is one of the best kept secret places to visit in the USA. It is one the number one vacation spots in the US.11. White Sands National Park, New Mexico  Insider Monkey Points: 3White Sands National Park in New Mexico not only has the largest gypsum dune field in the world, with gypsum hearth mounds that are unique to the planet, but it also has the largest collection of Ice-Age fossilized footprints in the world, which tells the story of over 20,000 years of human habitation while offering unforgettable recreational opportunities. Visitors can experience the surreal scenery by hiking, sledding down the dunes, or driving around the park. The ever-changing scenery formed by the shifting sands provides many opportunities for adventure and photography. White Sands National Park offers both nature enthusiasts and thrill seekers an unparalleled experience because of its distinct beauty and tranquil surroundings.10. Sedona, Arizona Insider Monkey Points: 3Sedona, one of the best-kept secret places to visit and known for its breathtaking natural beauty and spiritual energy, is a compelling location that lies in the heart of Arizona's red rock country. Explore the striking red rock formations, go on spectacular treks through the natural landscape, or treat yourself to a relaxing spa treatment. The town is also noted for its thriving arts scene, which includes various galleries displaying local artwork and crafts. For those looking for inspiration and rejuvenation, Sedona offers a life-changing experience with its stunning scenery, calm ambiance, and ethereal charm.9. Kanab, UtahInsider Monkey Points: 3Kanab, Utah, which is one of the most hidden states in the USA, is among the best-kept secrets in not only Southwest Utah but also the USA. It is an ideal spot for outdoor enthusiasts, film buffs, and everyone else. It has an abundance of natural landscapes to explore, a rich history, and an incredible location in the center of Southern Utah's most well-liked attractions.Utah, Kanab is a quaint town encircled by magnificent natural landmarks like Zion National Park, Bryce Canyon National Park, and Grand Canyon National Park's North Rim. Hence, this park is renowned as the "Gateway to the Parks."8. St. Augustine, FloridaInsider Monkey Points: 3For over four centuries, St. Augustine has captivated and delighted tourists. As the earliest continuously populated European-established community in the mainland United States, one of the oldest cities in the US boasts more than just beautiful cobblestone streets, historical buildings, and pristine beaches. One of the most interesting facts about St. Augustine is that it has the narrowest street in the United States. Treasury Street is just seven feet in width.                                                            7. Valley of Fire State Park, NevadaInsider Monkey Points: 3Valley of Fire State Park is world-renowned for its 40,000 acres of bright red Aztec sandstone outcrops buried in gray and tan limestone, as well as old, petrified trees and petroglyphs dating back over 2,000 years. The most ideal location to see petroglyphs in the Valley of Fire is Petroglyph Canyon, next to Atlatl Rock. In the heart of Nevada's breathtaking desert scenery, visitors can explore the canyon's walls embellished with these ancient artworks, offering an unparalleled and fully immersive experience.6. Block Island, Rhode Island Insider Monkey Points: 4Eleven miles off the coast of Rhode Island, Block Island is a picturesque 11-square-mile beachside resort known as "One of the Last Twelve Great Places in the Western Hemisphere." It possesses a timeless charm with its majestic cliffs, lush green hills, and immaculately maintained Victorian hotels. The 17 miles of pristine public beaches and scenic walking trails that wind through meadows, forests, and along the sea are its main attractions. Old Harbor, situated on Block Island, has a wide variety of shops and eateries. Block Island is among the 20 Best Kept Secret Places to Visit in USA. Click to continue reading and see the 5 Best Kept Secret Places to Visit in USA.Suggested Articles:25 Best Colleges with High Acceptance Rates15 Reasons Why Millionaires Think They’re Middle Class20 Biggest Cosmetics Brands in the WorldDisclosure: None. 20 Best Kept Secret Places to Visit in USA is originally published on Insider Monkey.

Insider Monkey

20 Best Kept Secret Places to Visit in USA

https://finance.yahoo.com/news/20-best-kept-secret-places-132921685.html

1b210ad6-f892-3d27-b88b-21d7373c5a76

UAL

Image source: Upsplash/The Motley FoolLast week, American Airlines increased its checked bag fees. Now, flyers in most markets will have to pay more to check their bags. This news will likely upset those trying to stretch their vacation budgets further. Unfortunately, United Airlines is taking similar steps. As of Feb. 24, flyers will pay higher fees to check their bags. Here's what you need to know.Most flyers will pay an additional $5 to check a bagLast week, United Airlines announced it had increased checked bag fees. The airline noted on its website, "Starting February 24, 2024, fees for your first and second checked bag will go up by $5 in most markets." Before flying, travelers are encouraged to use United's baggage fee calculator to verify the checked bag fees for their route.For domestic routes, flyers without elite status will pay $40 each way to check their first bag. But they can get a $5 discount and pay only $35 by paying this fee in advance online. A second checked bag costs $50, or $45, when prepaid online.Previously, non-elite United fliers with economy tickets paid $35 for their first checked bag or $30 when paying in advance. While $10 round-trip is only a slight fee increase, every extra dollar adds up. Flyers who prefer to pack more when traveling will want to budget for this additional cost before they board their next United flight.Here's how to avoid checked bag fees when flyingIt's understandable if you find this news disappointing. But if you're strategic, you can avoid checked bag fees. Here are a few tips that could help you save money.Featured offer: save money while you pay off debt with one of these top-rated balance transfer credit cardsLearn to pack light: Bringing only a carry-on bag could be a win for your bank account. If you're flying with United, choose a ticket that includes a free carry-on bag to avoid additional checked bag fees. Domestic basic economy tickets don't include a free carry-on bag.Choose a different airline: If you're visiting a destination that Southwest Airlines flies to, you should price out airfare costs and consider this carrier. Regardless of ticket type, all Southwest flyers can check two bags at no additional cost.Consider getting a United credit card: If you're a United loyalist and have been considering getting a new credit card, check your options for United credit cards. You can benefit from free checked bag perks with the right credit card in your wallet.Achieve elite status: It may be worthwhile to pursue elite status with your favorite airline. Many airlines, including United, offer free checked bag benefits to elite flyers. This benefit could help you spend less money on travel costs.Buy a premium ticket: Most airlines offer free checked bag benefits to flyers with premium tickets. When flying on a business or first class ticket with United, you can avoid paying additional checked bag fees. It may be worthwhile to upgrade your ticket.Story continuesBefore booking airfare for your next vacation, consider additional costs like checked bag fees. This way, you can prepare financially to enjoy your trip without added stress. Being strategic and finding ways to avoid extra bag fees could be a win for your personal finances. Check out our list of the best airline credit cards to learn more about the benefits provided.Our picks for 2024's best credit cardsOur experts carefully review the most popular offers and select those that are worthy of a spot in your wallet. These standout cards come with fantastic benefits like sign-up bonuses worth $200 or more, 0% intro APR for up to 21 months, and cash back rates up to 5%.Click here to see our top credit cardsWe're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.Natasha Gabrielle has no position in any of the stocks mentioned. The Motley Fool recommends Southwest Airlines. The Motley Fool has a disclosure policy.United Joins American Airlines in Increasing Checked Bag Fees was originally published by The Motley Fool

Motley Fool

United Joins American Airlines in Increasing Checked Bag Fees

https://finance.yahoo.com/news/united-joins-american-airlines-increasing-193014734.html

46968c4c-675d-3a4e-94c9-d46677cf6bd0

UAL

Miles donated will help offset travel costs for Girl Scouts participating in educational experiences and leadership programs across the countryUnited will match the first one million miles raised for Girl Scouts of the USA through Miles on a Mission, United's leading fundraising and crowdsourcing programCHICAGO, March 11, 2024 /PRNewswire/ -- This March, in celebration of International Women's Day and Girl Scouts' 112th birthday, United is encouraging MileagePlus® members to donate miles to Girl Scouts of the USA (GSUSA) to help fund life-changing experiences for Girl Scouts through travel.United raises miles for Girl Scouts of the USA to help fund travel for educational experiences and leadership programs.United will match the first one million miles raised for GSUSA through Miles on a MissionSM, United's leading fundraising and crowdsourcing program, giving MileagePlus members a chance to use their miles for good. Travel is an essential part of many Girl Scouts' journeys as they are encouraged to explore, make global connections and cultivate skills they can use for the rest of their lives. More than 59,000 Girl Scouts traveled either domestically or internationally in 2023, with many troops funding their own adventures with money earned through the Girl Scout Cookie Program®."We are honored to be the featured partner for United's Miles on a Mission program this month," said Wendy Lou, Chief Revenue Officer and Head of Membership, GSUSA. "As we come to a close on our 2024 cookie season and many are figuring out creative ways to use their cookie proceeds, including travel, we hope this program can help them take their travel dreams even farther."Since 2022, United Airlines has supported GSUSA in its mission. Through the partnership, GSUSA created resources for both volunteers and council staff to deliver STEM programs and broaden the variety of educational opportunities for Girl Scouts.According to GSUSA research, girls who participate in Girl Scout STEM programs are more confident in their math and science abilities and show more interest in STEM subjects and careers.Story continues"At United, we believe that aviation can help connect people and unite the world," said Helon Hammond, VP of Global Learning, People and Community Impact for United. "We are proud to support Girl Scouts of the USA to ensure that members have access and are encouraged to explore and continue learning through travel. We hope to inspire young leaders to continue learning through travel and pursuing careers in aviation."Visit united.com/donate today to learn more about how you can donate miles to Girl Scouts of the USA and become a MileagePlus member for free. Members can donate their miles to GSUSA until April 12.To volunteer, join or donate, visit girlscouts.org.About UnitedAt United, Good Leads The Way. With U.S. hubs in Chicago, Denver, Houston, Los Angeles, New York/Newark, San Francisco and Washington, D.C., United operates the most comprehensive global route network among North American carriers and is now the largest airline in the world as measured by available seat miles. For more about how to join the United team, please visit www.united.com/careers and more information about the company is at www.united.com. United Airlines Holdings, Inc., the parent company of United Airlines, Inc., is traded on the Nasdaq under the symbol "UAL".About Girl Scouts of the USAGirl Scouts bring their dreams to life and work together to build a better world. Through programs from coast to coast, Girl Scouts of all backgrounds and abilities can be unapologetically themselves as they discover their strengths and rise to meet new challenges—whether they want to climb to the top of a tree or the top of their class, lace up their boots for a hike or advocate for climate justice, or make their first best friends. Backed by trusted adult volunteers, mentors, and millions of alums, Girl Scouts lead the way as they find their voices and make changes that affect the issues most important to them. To join us, volunteer, reconnect, or donate, visit girlscouts.org.United Airlines logo. (PRNewsFoto/United Airlines)CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/united-raises-miles-for-girls-scouts-of-the-usa-to-help-inspire-the-next-generation-of-leaders-302084609.htmlSOURCE United Airlines

PR Newswire

United Raises Miles for Girls Scouts of the USA to Help Inspire the Next Generation of Leaders

https://finance.yahoo.com/news/united-raises-miles-girls-scouts-120000106.html

0a448f71-26d8-3ea9-9af4-8c1ecfbc58e1

UAL

The latest trading session saw United Airlines (UAL) ending at $42.89, denoting a -0.95% adjustment from its last day's close. The stock's change was less than the S&P 500's daily loss of 0.11%. Elsewhere, the Dow saw an upswing of 0.12%, while the tech-heavy Nasdaq depreciated by 0.41%.The the stock of airline has risen by 2.29% in the past month, leading the Transportation sector's gain of 1.84% and undershooting the S&P 500's gain of 2.7%.The upcoming earnings release of United Airlines will be of great interest to investors. The company is expected to report EPS of -$0.49, up 22.22% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $12.42 billion, indicating an 8.66% increase compared to the same quarter of the previous year.For the full year, the Zacks Consensus Estimates project earnings of $9.72 per share and a revenue of $57.49 billion, demonstrating changes of -3.28% and +7.02%, respectively, from the preceding year.Investors should also pay attention to any latest changes in analyst estimates for United Airlines. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.5% lower. As of now, United Airlines holds a Zacks Rank of #3 (Hold).Story continuesDigging into valuation, United Airlines currently has a Forward P/E ratio of 4.46. This expresses a discount compared to the average Forward P/E of 8.55 of its industry.It's also important to note that UAL currently trades at a PEG ratio of 0.59. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Transportation - Airline industry had an average PEG ratio of 0.59 as trading concluded yesterday.The Transportation - Airline industry is part of the Transportation sector. This group has a Zacks Industry Rank of 48, putting it in the top 20% of all 250+ industries.The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportUnited Airlines Holdings Inc (UAL) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

United Airlines (UAL) Declines More Than Market: Some Information for Investors

https://finance.yahoo.com/news/united-airlines-ual-declines-more-215018989.html

6b35569a-8ab2-3575-8527-8622c8e4caea

UBER

Stock buybacks are increasing in a sign that companies are feeling better about the trajectory of the US economy.Companies such as Meta (META), Disney (DIS), and Uber (UBER) all announced plans to repurchase shares this earnings season. And according to data from Deutsche Bank companies are acting on these buyback authorizations, with S&P 500 members repurchasing $63 billion worth of their own stock during the first week of February, the highest single-week total for buybacks since May 2023.Deutsche Bank director of global asset allocation and US equity strategy Parag Thatte explained to Yahoo Finance that as earnings rise, buybacks often follow suit. This happens because as earnings improve, companies' free cash flow often increases. Corporates will first spend that money on paying down debt. Then, remaining funds are often utilized for paying dividends, boosting capital expenditures to reinvest in the company, and, potentially, buying back shares.Stock buybacks lower the amount of total shares outstanding to the public, boosting investors' stake in the company and their share of any potential dividends. It's viewed as a positive for investors, but is often the first thing to be cut when times are tough.This means that the return of buybacks can be seen as a sign that companies feel they're in a stronger position than the past few quarters when buybacks hit a lull. Uber CFO Prashanth Mahendra-Rajah described the launch of the company's first ever repurchasing plan as a "vote of confidence in the company’s strong financial momentum."Disney CEO Bob Iger echoed a similar sentiment when discussing why his company boosted its dividend and announced plans to buy back shares for the first time since 2018."Our current position of strength, and confidence in our path ahead, already led us to pay a dividend to our shareholders last month ... As we continue to invest in our growth businesses and maintain our strong balance sheet, we also expect to prioritize dividend payments and share repurchases in the coming years," Iger said on the company's earnings call on Feb. 7.Story continuesMeta, for its part, is now planning to offer a quarterly dividend for the first time ever while also authorizing a $50 billion share repurchase program.The buybacks are a noted shift for Meta, Disney, and Uber, which underwent layoffs over the last year and now appear more confident in where their businesses stand to start 2024.While companies are still managing higher borrowing costs and fears of a potential recession, the increase in buybacks indicates companies think their financial positioning is rounding the corner."They're not yet stating that all is clear and we are maybe completely free of a slowdown," Thatte said. "But at the margin they are saying, 'Yes, we are seeing signs or things turning up.'"The Walt Disney Co. logo appears on a screen above the floor of the New York Stock Exchange. (Richard Drew/AP Photo, File) (ASSOCIATED PRESS)There's another sign of corporate confidence: Deals, another way companies spend their cash flow, have increased to start the year too.With Capital One's (COF) $35 billion offer to buy Discover Financial Services (DFS) leading the way in deal value, dealmaking year to date is up 55% compared to the same period last year, according to data compiled by Bloomberg.Freedom Capital Markets chief global strategist Jay Woods recently told Yahoo Finance's Julie Hyman that the increase in deals is a "confidence builder for markets.""Rates have stabilized and have given companies more confidence to pursue deals," Woods said.Josh Schafer is a reporter for Yahoo Finance. Follow him on X @_joshschafer.Click here for the latest stock market news and in-depth analysis, including events that move stocksRead the latest financial and business news from Yahoo Finance

Yahoo Finance

Stock buybacks are rising this earnings season

https://finance.yahoo.com/news/stock-buybacks-are-rising-this-earnings-season-183926828.html

6b0f383d-5faf-441b-b676-d42e996abb11

UBER

ParticipantsGreg LemenchickRussell J. Weiner; CEO & Director; Domino's Pizza, Inc.Sandeep Reddy; Executive VP & CFO; Domino's Pizza, Inc.Andrew Michael Charles; MD & Senior Research Analyst; TD Cowen, Research DivisionBrian Hugh Mullan; Director & Senior Research Analyst; Piper Sandler & Co., Research DivisionBrian James Harbour; Research Associate; Morgan Stanley, Research DivisionBrian John Bittner; MD & Senior Analyst; Oppenheimer & Co. Inc., Research DivisionChristopher Emilio Carril; Analyst; RBC Capital Markets, Research DivisionChristopher Thomas O'Cull; MD & Senior Analyst; Stifel, Nicolaus & Company, Incorporated, Research DivisionDanilo Gargiulo; Senior Research Analyst; Sanford C. Bernstein & Co., LLC., Research DivisionDavid E. Tarantino; Director of Research & Senior Research Analyst; Robert W. Baird & Co. Incorporated, Research DivisionDavid Sterling Palmer; Senior MD & Fundamental Research Analyst; Evercore ISI Institutional Equities, Research DivisionDennis Geiger; Director and Equity Research Analyst of Restaurants; UBS Investment Bank, Research DivisionGregory Ryan Francfort; Director & Equity Research Analyst; Guggenheim Securities, LLC, Research DivisionJeffrey Andrew Bernstein; Director & Senior Equity Research Analyst; Barclays Bank PLC, Research DivisionJohn William Ivankoe; Senior Restaurant Analyst; JPMorgan Chase & Co, Research DivisionJon Michael Tower; Director; Citigroup Inc., Research DivisionLauren Danielle Silberman; Research Analyst; Deutsche Bank AG, Research DivisionPeter Mokhlis Saleh; MD & Senior Restaurant Analyst; BTIG, LLC, Research DivisionSara Harkavy Senatore; MD in Global Equity Research & Senior Analyst; BofA Securities, Research DivisionUnidentified AnalystPresentationOperatorThank you for standing by, and welcome to Domino's Pizza's Fourth Quarter 2023 Earnings Conference Call. (Operator Instructions) As a reminder, today's program is being recorded. And now I'd like to introduce your host for today's program, Greg Lemenchick, Vice President, Investor Relations. Please go ahead, sir.Story continuesGreg LemenchickGood morning, everyone. Thank you for joining us today for our fourth quarter conference call. Today's call will begin with our Chief Executive Officer, Russell Weiner; followed by our Chief Financial Officer, Sandeep Reddy. The call will conclude with a Q&A session. The forward-looking statements in this morning's earnings release and 10-K both of which are available on our IR website, also apply to our comments on the call today. Actual results or trends could differ materially from our forecast. For more information, please refer to the risk factors discussed in our filings with the SEC. In addition, please refer to the 8-K earnings release to find disclosures and reconciliations of non-GAAP financial measures that may be referenced on today's call. This morning's conference call is being webcast and is also being recorded for replay via our website. We want to do our best this morning to accommodate as many of your questions as time permits. As such, we encourage you to ask one question only. With that, I'd like to turn the call over to Russell.Russell J. WeinerThanks, Greg. I thought you were going to sing the opening as we discussed, but I guess we'll let that path today. Welcome to your first call here on Domino's, and good morning to everyone joining us. Our strong Q4 demonstrated that our hungry for more strategy is already delivering results. Our positive U.S. same-store sales and transaction growth in both delivery and carryout underscore the strength and momentum that we're building in our business. These results and the initiatives that I'll cover today give me confidence in Domino's ability to continue to drive meaningful value for shareholders. We're excited to share an update on the business through the lens of our Hungary for MORE strategy. Now as a reminder, Hungry for MORE is our new strategy around what we're going to do to deliver over the course of the next 5 years, more sales, more stores and more profits. We're going to accomplish this through our 4 more pillars, M-O-R-E, that I'll share a brief update on. Let's start with M. M is for the Most Delicious Food. And we know we have the most delicious food in the industry, but you know what, it's time to talk about it more. It's time to show it more, and we're already doing that. We're currently on air with pan pizza advertising for the first time since 2014. We call Pan Pizza, our best kept secret. It's time to change that. Pan Pizza is a delicious product made with fresh never frozen dough. It also showcases the variety of crust we have to offer. You're probably also noticing a shift in our advertising as we're beginning to romance the product or to showcase the deliciousness of our food you can expect this to continue throughout the year. The O in Hungry for MORE stands for Operational Excellence, and this is how we're going to deliver on our promise to have the most delicious food. By consistently driving a great experience with our products. As we've noted before, we made meaningful strides operationally in 2023 with our Summer of Service program, which has resulted in service times being back to pre-COVID levels. But we're never satisfied, and we want to continue to get better, our operators and our franchisees, we are Hungry for MORE.In 2024, we're rolling out a new service program. We're calling that More Delicious Operations. This program will be a series of 3 product training sprints focused on our dough, how we build and make our products and how we cook them. All of this is being done with a keen focus on driving more consistency in our food by providing the proper teaching, tools and processes for our team members to succeed. Our third pillar is R for Renowned Value. We've always been known as a premier value player, and we believe this can continue to be a differentiator for us in '24, through our improved loyalty program, our national promotions, and our rollout on Uber. Domino's Rewards is off to a great start and was a key driver of our strong comp performance in the fourth quarter, when we saw positive sales and transactions in both our U.S. delivery and carryout businesses. We've also seen the following: an uptick in active members. We are up 3 million active members in 2023 with 2 million-plus since our relaunch in September. Domino's Rewards ended the year with approximately 33 million active members. A big driver of the increase in active members as well as the early success of the program was our Emergency Pizza Promotion, which was an innovative marketing initiative that drove increased order counts and acquisition of customers into Domino's Rewards. We're seeing more redemptions than ever before, and we're seeing them at those lower tiers that we implemented. And we know that this program has driven incremental profit dollars for our franchisees. So customers are getting more and franchisees have earned more profits. Truly a win-win. Finally, we're seeing more care users and light users in the program than we were prior to the relaunch. So Domino's Rewards is working as we intended. National promotions will be another way that will drive renowned value in '24. And right now, we're on air with our perfect combo promotion. We believe this is the best deal in the QSR industry to feed the family, and it highlights the depth we have in our menu. We also brought back our carryout special boost week in January for the first time since January 2020. And this performance exceeded my expectations. Clearly, customers want value, and we are driving it profitably for our franchisees. While providing value through our own channels is one part of our Barbell strategy, tapping into the aggregator marketplace is the other. We're very excited about this new sales layer, which we believe is a different and largely incremental customer that we had not been able to reach in the past. Our entrance into this marketplace with Uber is on track as we are now fully rolled out across our U.S. system. We've gone live with the marketing and formally kicked off our 1-year exclusivity period in Q1. Sales are building in line with increased marketing, which has been great to see and we expect those orders to continue to grow throughout the year. Sandeep will share more about our sales expectations in 2024 for Uber in his comments. Now everything we do at Domino's is enhanced by our best-in-class franchisees, the E in our Hungry for MORE strategy. In 2023, we continue to enhance our U.S. franchisee base by adding more than 60 new franchisees to the system, the most in 15 years. Every one of these new franchisees started with Domino's either as a delivery driver or from within our system. This remains the secret sauce to our success. We ended 2023 slightly ahead of our expectations on U.S. store growth and profits, adding 168 net new stores and finishing the year with estimated average franchisee profitability per store of $162,000. This highlights the momentum we expect to continue into 2024. I couldn't be more excited about 2024 and beyond for Domino's Pizza. Our foundation has never been stronger and our vision has never been greater. We made a ton of progress in 2023 and our strong start to '24 gives me confidence in our ability to win with customers and drive return for Domino's franchisees and shareholders. Now with that, I'll turn things over to Sandeep.Sandeep ReddyThank you, Russell. And good morning, everyone. As a reminder, in the third quarter, we closed the remaining 143 stores in the Russia market. The 2023 global retail sales growth measures exclude the Russia market and are calculated as a growth in retail sales, excluding the retail sales from the Russian market from both 2023 retail sales and the 2022 retail sales pace. Now for our fourth quarter financial results. Excluding the impact of foreign currency, global retail sales grew 4.9% due to positive U.S. comps and global net store growth. U.S. retail sales increased 4.5% and international retail sales, excluding the impact of foreign currency, grew 5.2%. During Q4, same-store sales for the U.S. business saw an increase of 2.8%. As Russell noted earlier, our strong comps in the quarter were driven by both delivery and carryout as they were up 2% and 3.9%, respectively. For the year, delivery represented 48% of our transactions and 58% of our sales, while carryout represented 52% of our transactions and 42% of our sales. The weight of sales and transactions shifted slightly more to carryout in 2023. The increase in U.S. Q4 same-store sales was driven by transaction growth from our new loyalty program, inclusive of a benefit from Emergency Pizza, pricing of approximately 1% and a 0.4% sales mix from Uber. It will take us some time to determine just how much of that Uber mix is incremental. So more to come on that as we move through 2024 and into 2025. These tailwinds were partially offset by a slightly lower average ticket that was the result of higher carryout mix. Shifting to unit count. We added 92 net new stores in the U.S., bringing our U.S. system store count to 6854 stores at the end of the year. For the year, we added 168 net new stores, which was a strong increase over the 126 net stores we opened in 2022. U.S. company-owned store gross margin decreased 1.6 percentage points in the fourth quarter of 2023. Excluding the impact from higher insurance costs and an increase in our loyalty liability, due to the change in point structure following the relaunch of the Domino's Rewards program, margins would have expanded slightly. Domino's unit economics remained strong with continued EBITDA growth for our U.S. franchisees. We are expecting that our average franchisee profitability per store will come in at $162,000 in 2023, up $23,000 from the prior year. Shifting to international. Same-store sales, excluding foreign currency impact, increased 0.1%. The deceleration from the third quarter is being driven primarily by pressures in Europe and geopolitical tensions in the Middle East. Please note that the Middle East represents a relatively small portion of our profits at less than 3% of our operating income. Our international store count increased by 302 net stores in the fourth quarter. For the year, our net store growth in international was 702 units, excluding the Russia closures. In total for the year, we grew 870 net stores across the globe. Income from operations increased $8.4 million or 3.4% in the fourth quarter. Excluding the impact of the $21.2 million prior refranchising gain that we are lapping, income from operations would have been up approximately 13% in the fourth quarter and up approximately 10% for the full year. Now turning to our 2024 outlook, which remains in line with what we shared at Investor Day in December. Our guidance calls for the following in 2024. 7% or more of global retail sales growth excluding the impact of foreign currency. We are expecting our 2024 U.S. comp to be above the 3% long-term guide as a result of our expected outsized catalysts in Uber and loyalty. As we have communicated previously, we expect our sales with Uber to increase throughout the year as marketing and awareness increases, and we are expecting to exit the year with an overall sales mix of 3% or more. We expect sales with Uber to start ramping up after Q1, which will have only a partial tailwind from marketing. In the U.S., we are planning for a modest price increase in the low single digits. This is inclusive of California, where we're expecting to take pricing above that to offset the wage impacts from AB 1228. We expect our international comps to remain soft in the first half of the year, due to a continuation of the trends we saw in the fourth quarter but expect them to accelerate to our 3% or more long-term guidance to the back half of the year. Now shifting to net stores, where we are expecting 1,100 or more, which will be driven by 175 in the U.S. and 925 international. There was a meaningful uptick in our U.S. net store growth in the fourth quarter, which was slightly ahead of our expectations, and the pipeline continues to build. We are expecting net unit growth in the U.S. to be relatively flat to 2023 in the first half of the year and to accelerate slightly in the back half based on current visibility. Internationally, we are expecting to increase net store growth each quarter over the prior year as we lap the onetime closures we had in 2023 and to step up significantly in the back half of the year. As previously communicated, we are expecting slightly less than half of our growth to come from China and India. On profits, we are expecting an 8% or more year-over-year increase in operating income excluding the impact of foreign currency. We do not expect the impact of foreign currency to have a material impact in 2024 based on current FX rates. A few additional points of color on some of the profit components. We are expecting our food basket to be up 1% to 3%. This has been driven by continued moderation on cheese prices. From (inaudible) perspective, we expect the Q1 food basket to be deflationary as we lap the only quarter from 2023 when the basket increased, followed by moderate increases for the remainder of 2024. We are expecting our supply chain margins to be roughly flat for the year, barring any unforeseen shifts in the food baskets. We are expecting an increase in year-over-year supply chain margins in Q1, due to the expected negative food basket, followed by a slight moderation for the balance of the year. We expect supply chain margin dollars to grow in line with transaction growth throughout the year. We are estimating double (inaudible) rate inflation across the system, inclusive of California, will be in the mid-single digits, and this has been primarily driven by minimum wage increases. We are expecting our G&A as a percentage of retail sales to be approximately 2.4%, which is in line with 2023. We also wanted to provide an update on our technology fee for 2024. In Q2 2023, we increased this fee to $0.395 and temporarily lowered our advertising fund contribution percentage by 0.25% to 5.75% for a 12-month period. Starting at the beginning of Q2 2024 we are lowering the technology fee to $0.355 and increasing the ad fund back to 6%. As previously communicated, we are expecting operating income margins to be relatively flat compared to 2023. We do not expect to see cost leverage in 2024, due to investments we are making in consumer technology, store technology and supply chain capacity to support future sales growth in the U.S. We are expecting Q1 margin expansion, due to lower inflationary pressures as previously noted on our food basket. And we are expecting the Q2 margin rate to be down because of the timing of G&A spend, which will be partially driven by our Worldwide Rally, a gathering of our U.S. and international franchisees that takes place every 2 years. We expect margins in the back half of the year to be flat. As I conclude, I wanted to note that we announced a 25% increase in our dividend and increased our share repurchase authorization by $1 billion. All of this is being done in line with our capital deployment priorities. Thank you. We will now open the line for questions.Question and Answer SessionOperator(Operator Instructions) And our first question comes from the line of Brian Bittner from Oppenheimer.Brian John BittnerClearly, your underlying core business is showing very nice signs of improvement, positive traffic in both the carryout business and delivery business prior to any Uber benefits. And I understand improvements in the core business can continue moving forward, maybe even perhaps accelerate and they remain important. But now you are fully rolled out with Uber. And our conversations with the investment community suggests the expectations for Uber mix currently is still relatively low. Maybe that 1% to 1.5% range. And you talked about getting to 3% by the end of the year. So can you talk about how this improvement should unfold as the year unfolds? And maybe unpack the marketing that's getting turned on. How is that bolstering your expectations for where the Uber mix will go?Russell J. WeinerBrian, let me talk a little bit about what we're seeing as far as the cadence of the flow of orders from Uber. Sandeep talked about the 0.4 in Q4, and we're seeing a meaningful uptick in Q1, we just turned the marketing on and so it's essentially -- (inaudible) -- same with Uber. So essentially, what we expect to see as awareness grows, is that percent of sales grow, and we feel like we're still on line for the 3% exit rate that we spoke about.OperatorAnd our next question comes from the line of Lauren Silberman from Deutsche Bank.Lauren Danielle SilbermanI wanted to ask about value in January around the Weeklong Carryout promo, which I haven't seen before. Can you talk about the rationale behind that? Any commentary on how you saw that perform? And to the extent that you're willing to talk about January, just given a little bit of noise across the industry? And then more broadly, how you're thinking about value and any incremental value offers through '24.Russell J. WeinerLauren, when you think about our Hungry for MORE strategy, renowned value is a big piece of it. And the carryout special isn't something new. It's something we brought back. I think the last time we ran it was 2020. And frankly, that's going to be part of our portfolio moving forward as well as 50% off as well as our mix and match deal. Value is a key component not only price but value from a loyalty standpoint and value in the aggregator space. So yes, the Weeklong Carryout wasn't anything new, but what I will tell you, it performed extraordinarily well. I'm really happy with the way it went.OperatorOur next question comes from the lot. Gregory Francfort from Guggenheim.Gregory Ryan FrancfortJust looking at the unit growth this quarter. The domestic side, really strong pickup in terms of openings, international, maybe a little bit on the softer side. As you guys look out to next few year, can you maybe talk about your confidence in that accelerating on a global basis next year? And then maybe what that looks like from a domestic and international standpoint?Russell J. WeinerYes. We still feel really strongly about the guidance we gave, the 1,100-plus stores and 5,500 over the next 5 years. I mean you saw some really nice momentum at the end of the year in the U.S. in 2023. We expect to see more at the end of the year in 2024. Internationally, I think we've got a lot of closures behind us. That was probably one of the things that was driving down the number this year. But those closures really focused on 3 areas. Domino's Pizza Enterprises, and they talked about their number, Russia and Brazil. Those 3 were over 80% of our closures and no other market closed more than 5 stores. And so as we look forward, we feel really confident about openings. And I'm sure someone will ask a little bit later, but when you look at the profitability of our U.S. franchisees, you look at the fact that for the -- we had more new franchisees in 2023 than we have in the last 15 years. They're bullish about Domino's Pizza, and they're spending their money that way.Sandeep ReddyAnd Greg, I'm just going to add something in terms of the international store openings in particular. I think we provided some milestones to say that every quarter, we're expecting to actually grow against last year as we lap the closures and that significantly accelerate more in the back half of the year. So very confident in where we are with store openings international. And we've been talking to our master franchisees and have good visibility to our expectations there.OperatorAnd our next question comes from the line of Andrew Charles from TD Cowen.Andrew Michael CharlesRussell, within guidance for outsized U.S. '24 same-store sales, can you talk about your expectations for core traffic growth? Or what 2024 same-store sales will look like when you exclude the 3% mix for mover and the low single-digit pricing? What I'm trying to get at is that do you believe similar to 4Q that you can drive positive carryout and delivery transactions, excluding the impact of Uber?Russell J. WeinerYes. Andrew, absolutely. When I think about 2023, it was kind of a tale of 2 stories for us. The first part of the year was all about addressing the base and fixing things like delivery times and getting delivery times back to where they needed to be and getting franchisee profitability back where it needed to be. So that in Q4, we were able to really lean into the Hungry for MORE strategy. And you saw it all in action. Most delicious food with innovation. You saw a renowned value from a promotional standpoint with loyalty. And so all of those things are going to be able to continue throughout 2024 with this improved base that we've got. So yes, I expect both carryout and delivery orders to be positive.OperatorAnd our next question comes from the line of Dennis Geiger from UBS.Dennis GeigerAnd thanks for all of the color on the loyalty program. Wondering if you could just talk a little more about loyalty in the U.S. and sort of expectations for the program looking ahead. I think recently, you've kind of talked about that as being the biggest contributor to U.S. same-store sales growth this year. Curious if that expectation still holds.Russell J. WeinerYes, Dennis. The loyalty program was just off to -- it's off to a great start. I'll just repeat numbers that we had in the opening remarks because I just like them so much. We added 3 million folks last year, 2 million of them came with a new program. And so it's important to know because I'll talk about Emergency Pizza in a second and the effect on loyalty there. But the loyalty program out of the gate before even Emergency Pizza was doing exactly what we needed it to do, which was engage lower-frequency users, engage carryout users. Then we brought in this powerhouse of Emergency Pizza that continue to inflect those numbers. And we have ideas like that in the future that we'll be able to drive. There will be advantages and there are advantages to be in a Domino's Rewards customer. I'll give you a little bit more color about the users. It's doing exactly what we thought it would which is driving frequency, especially among the lower frequency customers. As I said before, also the carryout customers. And even though we have these lower tier levels, we're down to 2 purchases, now can get you a free item. Because of the food cost at these various tiers, it's actually positive for the franchisees. So really as I said, a win-win, a better program that's more engaging to customers and more profitable for our franchisees.OperatorOne moment for our next question. And our next question comes from the line of David Palmer from Evercore ISI.David Sterling PalmerI'm getting some feedback as I'm asking, so I'll try to get through this. Wanted to ask you about a couple of profit drivers for this upcoming year, that being company-owned stores and supply chain. And the company store line is probably the only area of the P&L that was slightly disappointing on the quarter. But for the year, it looked like the company stores' profitability was down maybe 10%. And your franchisees did a lot better than that. They were up double digits this last year. So any sort of call outs you would make in the quarter and for the year. And more importantly, how are you thinking about margins for company stores long term? They had been as high as 23.5% or so. Consensus for '24 is more like 18%. So I'm just wondering how you're thinking about company operated and then supply chain. Any comments there? Obviously, very strong on the supply chain in the fourth quarter. How you're thinking for '24.Sandeep ReddyThanks for the question, David. So I think on the company stores in the prepared remarks, I actually called out a couple of impacts in the fourth quarter that actually impacted our margins. One of them really was insurance costs. And the other one was the accrual because of the points that actually got generated with the new loyalty program. And I think when you take out those 2 impacts, our margins, that should be expanded. So the good thing about this is, I think the loyalty program has worked extremely well from a transaction perspective for company stores. And we expect this to be significantly driving profit dollars, and we expect to revert to margin expansion in 2024. And frankly, I think we expect to continue to build on our margins as we move forward even beyond 2024. And then I would go to the supply chain profit. We're really happy about our supply chain profitability that we generated in the fourth quarter. A big driver of supply chain profitability all year was the productivity improvements that we saw specifically driven by procurement and in food cost. And I think that was a big element of what we saw. As we pivot to 2024, the expectation on supply chain is it's going to be supply chain profit dollars because it's going to be driven by our transaction growth. And as Russell talked about earlier, we're expecting to see transaction growth before and after the impact of Uber. And all of that is going to fly through the supply chain P&L and expect that to actually drive significant profit dollar growth for the Supply Chain business.Russell J. WeinerYes, I'd just add those same transactions also add up to allow fees, online ordering fees as well, yes.OperatorOne moment for our next question. And our next question comes from the line of David Tarantino from Baird.David E. TarantinoVery nice to see the order counts in both delivery and carryout, but I wanted to ask specifically about the Emergency Pizza promotion and whether you could try to frame up how much of a lift that might have cause for the transaction growth. And I know there's a component about customer acquisition in there. So just wanting to sort of get a sense of how you're thinking about the trend coming out of that promotion, which ended, I think, recently?Russell J. WeinerDavid, I'll start. Maybe Sandeep, you can give some color to this one, too. Emergency Pizza was a resounding success. It really was. And when I look back and just, again, giving complements to our marketing team, this is your traditional buy one, get one free, that has been marketed in such a way that it really breakthroughs. We've done buy one, get one free before they've done nothing like this. And when I think about emergency pizza, what I like is not only what it did to order count, it also drove people into the loyalty program because you need to be a loyalty member in order to get your Emergency Pizza. I think last, we have a new thing in our arsenal now. Boost weeks have worked really well for us. We've got this Emergency Pizza piece now, and I expect this is ownable from our perspective. And so this is something we'll be able to use in the future as well. Sandeep, if you want to add some color?Sandeep ReddyYes. I think Russell is exactly right. And I think the thing about what's happening with Emergency Pizza, it's a brilliant marketing innovation from our marketing team. But I think the broader construct of it is thinking about Domino's Rewards against the loyalty program. And that essentially creates a key platform to our third pillar renowned value. So at the beginning of the quarter in the fourth quarter, we had Pepperoni Stuffed Cheesy Bread, which was a special offer that was actually being connected to the loyalty program. Then after that, we've got Emergency Pizza and there's a number of different promotions that we can continue to bring along on to Domino's Rewards. So the driver rather than looking at Emergency Pizza by itself, is really Domino's Rewards, and how much this can drive and transaction growth for us. This is a significant pillar of how we're going to drive transaction growth in 2024, both in delivery as well as carryout.Russell J. WeinerYes, that was a big learning from us for the first loyalty program we had. With Piece of the Pie Rewards we advertised on TV, "Hey, we have a rewards program." And what we learned over time is actually the best way to tell people the Ever Rewards Program is have a really compelling promotion, whether it's a new product or something like Emergency Pizza that the only way you can get it is if you sign up for the program. And once you sign up for the program, you're in this flywheel of frequency driving point levels that we've never had before. And so I think Emergency Pizza was a highlight. But as Sandeep talked about, that type of mechanism driving people into the loyalty flywheel is something we're going to continue to -- a play we'll continue to run.OperatorOne moment for our next question. And our next question comes from the line of John Ivankoe from JPMorgan. John, you might have your phone on mute.John William IvankoeApologize. Can you hear me now?OperatorYes.John William IvankoeOkay. Perfect. All right. You're on speaker, but all right, this will work. At first, in terms of the some of the slowdown that we saw the brand saw in Continental Europe. Were there any learning lessons that you could apply there, perhaps as Europe potentially being as a leading indicator to the U.S. of how you could get in front of an economic changes, that would actually allow the perform -- the brand to perform better in the U.S. than perhaps it has in Europe, at least in the last quarter is the first good question. And then secondly, obviously, there's no direct P&L impact in advertising allocation. But there is a direct P&L impact in terms of the online ordering fee. In terms of reducing that online ordering fee or cutting it, at least, marginally relative to what it was in '23. I mean what was the reasoning behind that? Was that really franchise driven? Obviously, the economics at the franchise level would suggest that they could bear that higher fee, but I just wanted to have a sense of why you felt that, that reduction was necessary to make?Russell J. WeinerJohn, I'll take the first question, maybe Sandeep will take the second one. Our European business is really strong, and we believe some of the pressures we're seeing there are generally transitory in nature. If you listen to the call from DPE, Domino's Pizza Enterprises, our master franchisee over several markets, but especially France. There have been some challenges there, and that's one of our larger markets in Europe. We're partnering closely with them right now on those challenges. What I'd point to for DPE in general, there are green shoots in a lot of the markets where they're really leaning in on. And so for example, Australia, New Zealand, the numbers there are fantastic. And one of the reasons why is they're leaning into the M, the Most Delicious Food part of Hungry for MORE. I mean I don't think anyone is doing it better than they are right now. They give a little insight into Japan into the first kind of 6, 7 weeks of the second half and how that seems to have turned a corner. Germany is positive. So we're working on France together, and that's certainly a business that needs to turn.Sandeep ReddyYes. And I'll just finish off on what Russell just said. And if you remember what I talked about in the prepared remarks, we expect to see pressure in the first half of the year on the international business. But exactly why we expect to see an improvement at the back half is because of all the more initiatives. Australia is one example. But taking those learnings and applying them across the international markets should enable us to offset any other headwinds that we have as we go into the back to our long-term guidance. And then specifically to your question on the advertising fund and the online fee. Now let's go back to about a year ago. And I think about a year ago, where we were was franchisee profitability was not in the best place. We had come off a big decline in franchisee profits in '22. And we saw an opportunity because of the buildup in the reserves of the ad fund to essentially take a 25 basis point 12-month hiatus from the advertising fund contributions. But we did want to continue investing in our technology solutions. And so we did take up the technology fee by $0.08. View that as a temporary increase and kind of an offset between the ad fund contribution and the technology fee. Now that we've actually come to the point where we think it needs -- it's time to restore the ad under 6%, we have actually adjusted the technology fee to $0.355. Another way to look at it is we actually went up from $0.315 to $0.355. And if you look back at our history, we've consistently increased our technology fee because we're making investments on technology for our franchisees, which drives the flywheel of their growth and eventually drives global retail sales and our royalty dollars as well. And so that is the rationale. I think where we are, all of this is included in the $170,000 or more in franchisee EBITDA that we're expecting for 2024, and we feel very good about it.OperatorOne moment for our next question. And our next question comes from the line of Chris O'Cull from Stifel.Christopher Thomas O'CullSandy, could you break down how much of the $23 million of the year-over-year supply chain profit dollar growth came from the productivity improvement versus the volume growth? And do you expect any productivity improvements to continue in that segment into '24?Sandeep ReddyThanks, Chris. Thanks for the question. a significant portion of the profit dollar growth that we saw in '23 came from the productivity improvement that we saw. It was pretty outsized. And I think it was it is probably a function of where the markets were, especially after the outsized inflationary period in 2022 that we were able to get such significant improvements in '23. And as we move forward in '24, this is definitely going to be a focus, but it's not going to be as outside as it was in '23. We do expect to get some benefits but I think we also have to make investments in capacity, like I talked about, both at Investor Day and earlier on the call today. So that's why I think as we look at '24, really expect profit dollar growth to be driven by transaction and productivity improvements that we can see, if anything should be an offset as some of the investments that we're making in the business.Russell J. WeinerBut the nice thing about what our supply chain team has done, the productivity we gained in 2023, it's not going back and so I would think about that as kind of accruing forward. So well done by Sandeep and NRG.OperatorAnd our next question comes from the line of Peter Saleh from BTIG.Peter Mokhlis SalehGreat. I want to come back to the loyalty conversation. Russell, I think you mentioned 2 million-plus new loyalty members since launch. And I think at the Investor Day in early December, you had mentioned there was about $1 million incremental. So just curious if you could comment, was there a meaningful acceleration in new loyalty members in December? Do you expect that trend to continue in '24? And then is there any way to parse out how many of those are coming or more carryout customers versus traditional delivery?Russell J. WeinerYes. Peter, there are -- I'd say a couple of meaningful moves in the loyalty program. First was just the launch of the loyalty program, right? We saw a meaningful increase, and that's what we talked about with you in December. And then building on top of that, we had some more momentum driven by Emergency Pizza. So I'd say Loyalty Program on its own did well is doing very well. We have added a little bit more gas on the fire with Emergency Pizza. And as we continue into Q1, now with Emergency pizza behind us, we're still very happy with the way that's growing. And we've got programs like Sandeep talked about earlier that we'll continue to drive that business. The other thing, and you talked about this, that I'm really happy with is the big objective here was to engage carryout customers and to engage light users. And we are absolutely doing that with the program. And we can see that even out of the gate so far.OperatorAnd our next question comes from the line of Sara Senatore from Bank of America.Sara Harkavy SenatoreI have a clarification and then a question. Just a clarification is Sandeep, you said company margins would have been up slightly, excluding insurance and loyalty liability. I guess given transaction growth and lower commodity costs and the shift to carryout, which I think is typically higher margin rate, I would have thought up more than slightly. So I guess as we think about that business, we should be focused now, I guess, increasingly on profit dollar growth as opposed to margin rate expansion sort of similar to how you think about supply chain? Or maybe my interpretation of up slightly is not quite right. And then the question is about the industry and the pizza segment. And so you often have better insights into the competitive dynamic than I do. Was any of this category improvement? Finally, I think back to maybe normalization in terms of sales mix, but anything you can say about what -- to what extent were share gains by Domino's versus finally seeing perhaps green shoots in the category?Sandeep ReddyThanks, Sara. So I'll take the first one and Russell will take the share question. So look, in terms of company margins, we specifically called out the impacts of those 2 and the margins expanding slightly outside of that. And I think it's been consistent. If you look at the first 3 quarters, our margins expanded. And I think in the fourth quarter, excluding the impact of those 2 items that we call out insurance and the loyalty liability, margins are expanded. So the great thing about the loyalty liability adjustment is it's because we expect to have incremental transactions or redemptions on the loyalty program. So you're right, look for profit dollar growth on the supply chain -- sorry, on the company stores. But I think we also do believe that there is an opportunity to expand margins, in addition to driving profit dollar growth as we leverage the fixed cost structure of the company stores. So look for both on company stores is my answer.Russell J. WeinerAnd on the state of the industry, I think and this is really even looking forward to 2024. A lot of what we expect is QSR there to be real pressure on orders and transactions. We don't expect that to be the case with Domino's, and I think will be unique in that area in 2024.OperatorAnd our next question comes from the line of Brian Harbour from Morgan Stanley.Brian James HarbourYes. I wanted to ask about just your international sales outlook as well. How much of this do you think is kind of market-specific execution issues? And I'm referring to just some of the countries that have been a little bit slower versus kind of macro pressures. And as you have that outlook for kind of improvement through the year, does that depend on some of those macro pressures easing, like, for example, if you think about India? Or can you maybe comment on some of the other markets that you didn't address before?Russell J. WeinerYes. Well, actually, maybe I'll start out talking about India because I was speaking over the weekend to Hari Bhartia, who's the Chairman of Jubilant. I mean that's a great example of both dynamics you talk about. And so obviously, they're pushing the business there. It's some headwinds. But what Hari talked about is what's going on in the rest of the industry and why he's bullish and while he's looking for the future. And while they're talking about 200 stores to grow in 2024 is because he's growing share. And so what I love about our franchisees is that they're future focused. And I think you see a lot of folks doing what they're doing in India. That's why we think the second half is going to return to that 3% that we talked about. Anything to add?Sandeep ReddyNo. I think Russell is exactly right. We think it's all tied back to the Hungry for MORE strategy is being applied across the entire system with the international markets. Learnings from markets like Australia being applied across DPE and essentially, all of the other markets as well have embraced Hungry for MORE, and that's really what we're looking to drive.OperatorAnd our next question comes from the line of Danilo Gargiulo from Bernstein. Your question, please.Danilo GargiuloI have a quick clarification and then a question. So the clarification is, Russell, you mentioned that you're expecting some real pressures in the industry, but not for Domino's. Can you clarify whether the increase in transactions that you've seen in the fourth quarter is across all the income cohorts? And then the question is, can you talk about the speed of delivery in the (inaudible) channel versus your own channel, understanding that you're using your own drivers anyway? And maybe how does the delivery timing compared versus your peers today?Russell J. WeinerOn the transactions piece, we believe that our transactions being positive is something that, like I said, is that is unique in the industry. We'll get more share information as that comes out, and we'll certainly share that with you. On speed of delivery, the biggest comparison -- the biggest comparison we have is versus ourselves. And every day, we expect to get better than the day before. So we're happy that we're back to 2019 levels. We're now moving more volume into that delivery network. And we're doing everything we can, not only to make sure that the delivery times or where they need to be. But more importantly, we haven't talked a lot about this is that the quality is there. And so when you think about our Hungry for MORE pillars, the first M is about Most Delicious Food and so just delivering a pizza on time is one thing. It's got to be great. And one of the things that I talk about, hopefully, there are no Boston Red Socks fans on the call today or a Yankee fan. And there's a famous player, Joe DiMaggio, who -- there's a quote, somebody asked him one time why he plays so hard every game. And what he said was, "There's going to be someone who sees me for the first time in that game, and so I'm playing for them." And that is how we need to approach making our pizza. Every pizza you're making is for your mom, right? And that's what some of these sprints are all about with more delicious operations. We're making promises in our advertising we need to deliver it, and it's more than just time. It's quality, it's consistency in all of those. And we like to say, down, we don't sell 1 million pizzas a day. Our goal is to sell 1 pizza a day 1 million times. And that's kind of the new thinking behind Delicious operations.OperatorOur next question comes from the line of Jeff Bernstein from Barclays.Jeffrey Andrew BernsteinJust following up from the Investor Day, you guys talked about your, I guess, Pulse 2.0 technology. And I think you mentioned there will be a complete overhaul throughout 2024 in conjunction with your Microsoft partnership talking about AI tools and whatnot, which are clearly very topical. So I'm wondering if you could talk a little bit about the greatest changes or the most likely incremental benefits to the front or the back of the house, and maybe the time frame to see those benefits . Obviously, it's been, like you said, a long time coming with this major overhaul. So just trying to get a sense for what we're going to see as we look through '24.Russell J. WeinerYes. Thanks for the question. It's a good time for me to clarify that. I think the future of the benefits of Pulse is actually now, right? We talked about DomOS and accelerating the areas within the circle of operations that make the biggest difference in our business. And so yes, next-generation pulse is in stores now, some stores in the U.S. will be rolling out to a bigger degree later on in 2024. But the most important element, the ones that are going to drive the Operational Efficiencies, the More Delicious Food, the improved atmosphere -- working atmosphere for our team members. Those are out in the DomOS tools and DomOS tools work with current pulse and the next-generation pulse. Hopefully, that clarifies it. The Microsoft the answer to your Microsoft question is we're working really in 2 areas with Microsoft and generative AI. One is on the consumer ordering side. We are not waiting for the new website to come in to see something on that. So you'll see something that in 2024. And then also on the store side and what can we do with Generative AI to make the experience better on our team members in store. And so we'll have more to talk about both of those in 2024.OperatorAnd our next question comes from the line of Andrew Strelzik from BMO Capital Markets.Unidentified AnalystThis is Joe Zinski on for Andrew Strelzik. So I'm curious how you would characterize the current competitive environment and what you're seeing from a promotional standpoint. And I was wondering if you could provide any incremental details regarding product innovation and the 2 new products that you are planning to launch this year?Russell J. WeinerYes, sure. I don't really like to talk a lot about competitors. I mean, a competitor we have is ourselves, and we try to get better than ourselves every day, and I think you see that in our Q4 results. I talked in general about it probably being a year that's less about order count. And we'll see how folks adjust to that. And when they do, we'll be happy to comment on that through the year. I didn't quite hear your second question. Can you repeat the second? Even though we're only supposed to ask one. I'm joking. Oh, yes, products. Thank you very much. Yes, on the product side. Couple of things. One is we're really happy that we've got our pan pizza out there now. But that's not a new product, and you should know that is not counted among the kind of 2-plus new products we're going to have this year. But what you do see with that is we haven't talked about pan pizza since 2014. So while I'm not counting it on my list of new products, it's something that's new to a lot of people and something that is really shot. If you look at the way we shot that commercial in the new way of kind of romancing the deliciousness of our pizza. So we're out with product news. News on a product for the first time in a long time, but that's not part of our 2 new product scheme for this year.OperatorAnd our next question comes from the line of Chris Carril from RBC Capital Markets.Christopher Emilio CarrilSo Russell, you mentioned the U.S. system added more than 60 new franchisees. I think that was the most in 15 years, you said. On the back of this, how are you thinking about the evolution of the domestic franchisee base? And just the balance of openings coming from new franchisees versus longer tenured franchisees going forward?Russell J. WeinerYes. Thanks a lot for the question. When we have calls like this and what I tell people is you're ever wondering how the Domino's Pizza brand is going to do in the future, you look at what your franchisees are doing. And franchisees right now from a profit standpoint, obviously, really positive versus where they were the year before. We opened up more stores really heavy towards the end of the year when things became clear there. Yet we're still very positive that we're going to beat that number in 2024 and hit our 175-plus algorithm. This 60 to me means that we've got young of encumbers within our system that for the first time in 15 years, it's bigger than -- or bigger than we have had in 15 years, which just means they see a really positive future. And the cool thing is as you look into '24, what I can tell you is 2 things. One is we already have 170 new potential franchisees that are either in or have graduated our franchise management school, which is the last step you do before you either build a store or buy a store. And we have 50 already waiting on open store transfers within the system. We're in February. And so I think some of the momentum you saw is going to continue. And that just shows what they are feeling about the brand where they want to invest.OperatorAnd our next question comes from the line of [Mary Jensen] from HSBC.Unidentified AnalystI know we've spoken about it a number of times in terms of the loyalty program. But given the mention of the liability, the loyalty liability from the relaunch, is there a way -- or how would you suggest we sort of track that and look at the breakage levels and sort of see where that may be going in the future and how we should sort of map that out? Obviously, as you mentioned, it's a positive thing so.Sandeep ReddyYes, Mary, thank you for the question. And look, I mean, I think the way to look at this is it's the appropriate accounting treatment if we're going to expect to see more redemptions, and that's the adjustment to the breakage accrual. But I think the whole point with this is our Domino's Rewards program is working as we intended. More transactions expected to come in, more redemptions are expected to come in. And I think Sara asked the question earlier. Look for profit dollar growth, in addition to margin expansion as we move forward, especially on the company stores in 2024. And we'll continue to provide disclosure as we move forward, but that's how I would actually measure performance on this.OperatorAnd our next question comes from the line of Brian Mullan from Piper SandlerBrian Hugh MullanJust a follow-up on the topic of Domino's advertising on Uber. Understanding it's just getting started, it will ramp throughout the year. Can you just discuss any learnings you've had here? Is it going how you would have thought? Has anything with the effectiveness surprised you either positively or negatively? And I ask in the context of just -- it's a new activity for Domino's, but I know you've been preparing to get ready for it. So just any thoughts on that strategy?Russell J. WeinerYes. Thanks, Brian. There's 2 advertising now for Domino's on Uber. One is Domino's and the other is Uber. And I think what we're seeing on that platform is very promotionally driven. And the nice place -- the nice thing is when you think of marketplaces and excelling on marketplaces, that's what we do, whether it's a Google marketplace or in this case, Uber. And so it's responding how you would think it's very much promotionally driven, but we know how to excel in those areas, which is why we are confident that a percent of sales for mover going to increase to that 3% exit rate we talk about.OperatorAnd our final question for today comes from the line of Jon Tower from Citi.Jon Michael TowerI appreciate it. Quick clarification on a question. Clarification, the loyalty liability. I'm assuming that was just a onetime true-up, but if you can clarify, that would be great. And then the question is on frequency shifts you're seeing in the loyalty program. Any way you can give us some sort of benchmarks as to where some of the more loyal customers were spending either frequency last year and what it's looking like so far since you made these shifts in late '23?Sandeep ReddySo I'll take the first part of the question, Jon. And it is a onetime thing because I think the significance of the change of the new program was what was the trigger. But that doesn't mean it's never going to happen also because I think you always have to continue to monitor your breakage. And if you do need to make a true-up, you will make a true up. But given the new program launching, I think this was much more of a onetime event because of the new program launching. And I think on the frequency shifts, Russell will take the question.Russell J. WeinerYes. What I can tell you, macro, we're still just a couple of months into this thing is what we thought we would see with regards to car customers and lighter user engagement, we are seeing. What we will do, Jon, is make sure throughout the year when we got more information under our belt, and we're able to give perspective because remember, loyalty programs are not just about the first use or the second. It's about lifetime value and use over time. And so as we get more color on that, we'll share.Greg LemenchickThanks, Jon. That was our last question of the call. I want to thank you all for joining our call today, and we look forward to speaking with you all soon. You may now disconnect. Have a great day.OperatorThank you, ladies and gentlemen, for your participation in today's conference. This does conclude the program. You may now disconnect. Good day.

Thomson Reuters StreetEvents

Q4 2023 Domino's Pizza Inc Earnings Call

https://finance.yahoo.com/news/q4-2023-dominos-pizza-inc-063036731.html

15631bbc-af06-3c5a-8738-4d6b4f027410

UBER

By Foo Yun CheeBRUSSELS (Reuters) -Europe moved a step closer to giving so-called gig economy workers at online platforms such as Uber and Deliveroo greater social and labour rights on Monday, although companies said little would change under the watered-down rules.The draft rules, first proposed by the European Commission in 2021, are aimed at an estimated 28 million workers in the EU, whose numbers are forecast to rise to 43 million next year.European Union lawmakers and Belgium clinched a political deal last month, but only after diluting the Commission's proposal. They then failed to muster enough votes in favour from EU countries as France, Germany, Estonia and Greece abstained.That preliminary deal scrapped a set of criteria proposed by the Commission to determine if an online company is an employer.Instead national law, collective agreements and case law will dictate whether a worker is an employee, in effect maintaining the status quo. The burden of proof will be on companies to show that their gig workers are not employees.The draft rules ban the use of automated monitoring or decision-making systems for the processing of certain types of personal data of persons performing platform work, such as biometric data or their emotional or psychological state."Ministers just approved the compromise text on the Platform Work Directive (#PWD). This will improve the rights and conditions of more than 28.5 million Europeans working in the #PlatformWork economy," Belgium, current holder of the rotating EU presidency, said on social media platform X.Uber said the status quo remains unchanged despite the EU countries' endorsement of the February political deal."EU Countries have voted to maintain the status quo today, with platform worker status continuing to be decided country-to-country and court-to-court," an Uber spokesperson said."Uber now calls on EU countries to introduce national laws that give platform workers the protections they deserve while maintaining the independence they prefer," they added.The European Parliament will now vote on the agreement next month before it can become law.(Reporting by Foo Yun Chee; Editing by David Goodman and Alexander Smith)

Reuters

EU members endorse diluted draft rules on rights for gig workers

https://finance.yahoo.com/news/eu-members-endorse-diluted-draft-145315547.html

0cd92e4f-3fb7-3041-9021-9332a39c9348

UBER

In this article, we will look at the 16 worst jobs in the US in 2024. We have also discussed the importance of job satisfaction. If you want to skip our detailed analysis, head straight to the 5 Worst Jobs in the US in 2024. Jobs play a fundamental role in human existence globally, influencing us in countless ways. They provide financial stability, enabling us to meet our basic needs and pursue aspirations. Beyond economic benefits, jobs offer a sense of purpose, fostering mental stimulation, personal growth, and skill development. They contribute to social status, confidence, and independence, shaping our identities and relationships. Owing to their importance in our lives, jobs must be healthy and positive for our well-being. The Conference Board's Job Satisfaction 2023 report revealed a huge uptick in American workers' contentment. In 2022, job satisfaction reached 62.3%, a notable increase from 60.2% in 2021 and the highest level since the survey's inception in 1987. These gains reflect a trend of steady improvement over the past decade, despite a temporary dip during the Great Recession. The increase in satisfaction is attributed to a tight labor market and improved workplace flexibility, with factors such as work-life balance and workload management showing the most substantial improvements.The report highlighted the importance of non-compensation factors in driving job satisfaction, with aspects like organizational culture and work experience being crucial retention elements. Notably, workers who switched jobs during the pandemic reported higher satisfaction levels across various job aspects, highlighting the value of workplace mobility. As the labor market remains competitive, employers are urged to prioritize factors beyond monetary compensation, such as offering flexible work arrangements and fostering a positive work environment, to enhance employee retention and overall satisfaction.On the other hand, another report suggests that laughing at one’s boss's jokes might seem harmless, but a recent study reveals its detrimental effects. Conducted by academics from three prestigious universities, the research indicates that bosses who excessively use humor can diminish employee wellbeing. This study, published in the Academy of Management Journal, underscores the impact of "surface acting," where employees feign positive reactions to their bosses' jokes. Such behavior leads to emotional exhaustion and reduced job satisfaction. Interestingly, the study incorporates various methodologies, including field and laboratory experiments, to substantiate its findings.Story continuesThe findings suggest that leaders should exercise caution in their use of humor. While humor can lighten the workplace atmosphere, overuse may exacerbate negative outcomes. Leaders should aim for quality over quantity in their attempts at humour to foster a positive work environment.Speaking of employee wellbeing, the 2023 Work in America Survey has shed light on a pertinent shift in workplace culture towards prioritizing mental health and well-being. With 92% of workers emphasizing the importance of organizations valuing their emotional and psychological welfare, the importance of supportive workplace environments cannot be overstated. Fortunately, 77% of respondents express satisfaction with the mental health support provided by their employers. However, areas for improvement persist, as evidenced by 55% of workers believing their workplaces are mentally healthier than they truly are, and 43% fearing negative repercussions if they disclose mental health conditions.Toxic workplaces remain a prevalent concern, with 19% of respondents describing their workplace as toxic. This phenomenon disproportionately affects client-facing roles and in-person workers, with 26% of service providers experiencing toxicity. Verbal abuse also plagues many, with 24% reporting instances within the past year, particularly prevalent among customer service roles. Uber Inc (NYSE:UBER) and AT&T Inc (NYSE:T) are two of the companies with the highest job satisfaction levels. Let’s look at their latest financial performances and predictions. Uber Inc (NYSE:UBER)’s Q4 2023 results reveal major growth and profitability, marking a turning point for the company. Trips and monthly active platform consumers increased by 24% and 15% year-over-year respectively, with Gross Bookings reaching $37.6 billion, a 22% increase year-over-year. Operating cash flow reached $823 million, while free cash flow hit $768 million, highlighting robust financial health. Net income increased to $1.4 billion, driven by disciplined investment and platform advantages.Looking ahead to Q1 2024, Uber Inc (NYSE:UBER) anticipates Gross Bookings between $37.0 billion to $38.5 billion and Adjusted EBITDA of $1.26 billion to $1.34 billion. These projections confirm confidence in sustained growth momentum. With an impressive increase in engagement and revenue, coupled with prudent capital allocation plans, Uber Inc (NYSE:UBER)  is set for continued success. On the other hand, in 2024, AT&T Inc (NYSE:T) anticipates a steady trajectory across different fronts. Wireless service revenue is projected to experience a moderate yet notable growth in the 3% range, indicative of sustained market demand and effective strategies. Moreover, the broadband sector is set for a strong expansion, with revenue expected to increase by over 7%, reflecting the increasing reliance on high-speed internet services in both residential and business spheres. These revenue gains are paralleled by adjusted EBITDA growth also hovering around 3%, underlining AT&T Inc (NYSE:T)’s operational efficiency and strategic direction.Capital investment is earmarked to be substantial, ranging between $21-$22 billion, affirming AT&T Inc (NYSE:T)’s commitment to infrastructure development and technological development. Simultaneously, AT&T Inc (NYSE:T) also forecasts a healthy free cash flow ranging from $17-$18 billion. Despite certain expected adjustments impacting earnings per share (EPS), including higher depreciation expenses and lower income from various sources, AT&T Inc (NYSE:T) remains optimistic about its performance.16 Worst Jobs in the US in 2024Photo by Jon Tyson on UnsplashOur MethodologyTo list the worst jobs in the US in 2024, we identified jobs with 3 main characteristics. Firstly, we looked at jobs which required extensive and physical labor which may also prove to be life-threatening. Secondly, we identified jobs that are highly underpaid throughout the world. Lastly, we looked at jobs that offered little to no skill development, making it humanly difficult to mentally grow in such an environment. Based on the consensus on the presence of these features, we scored each job out of a total score of 30. We utilized Reddit threads as our primary source to gauge the consensus. The list is presented in ascending orderBy the way, Insider Monkey is an investing website that uses a consensus approach to identify the best stock picks of more than 900 hedge funds investing in US stocks. The website tracks the movement of corporate insiders and hedge funds. Our top 10 consensus stock picks of hedge funds outperformed the S&P 500 stock index by more than 140 percentage points over the last 10 years (see the details here). So, if you are looking for the best stock picks to buy, you can benefit from the wisdom of hedge funds and corporate insiders.16. Coal MinerIM Score: 12Coal mining is considered one of the worst jobs in the world due to its inherently dangerous nature and detrimental health effects. Miners face the constant threat of cave-ins, explosions, and toxic gas exposure. The strenuous physical labor in confined, dark, and often poorly ventilated spaces takes a toll on miners' bodies. The average Coal Miner in the US makes $51,178.15. JanitorIM Score: 14Historically associated with lower socio-economic status, it involves physically taxing tasks like cleaning and lifting, leading to dissatisfaction. The monotony of repetitive duties adds to this sentiment, compounded by often meager wages. Janitors had a median salary of $31,990 per year in the US in 2022. It is one of the most disliked jobs in the world.14. FishermanIM Score: 15Fishing and hunting workers, with no formal education requirements, undergo moderate-term on-the-job training. In 2022, there were 27,300 such jobs. However, the job outlook from 2022 to 2032 remains stagnant, with no anticipated change in employment opportunities. In fact, a decline of 100 jobs is expected during this period, indicating limited growth prospects in the field.The median annual wage for fishing and hunting workers was $28,530 in May 2017.13. Roofing LaborerIM Score: 17Roofers earn a median annual pay of $47,920 with no formal education required but moderate on-the-job training. The job outlook from 2022 to 2032 indicates a 2% growth rate, with an addition of 3,100 jobs by 2032, totaling 154,500 positions. However, roofing is often considered one of the worst jobs owing to its physical demands, exposure to harsh weather conditions, and safety risks associated with working at heights. It is one of the most difficult jobs in the world.12. Security GuardIM Score: 18The job of a security guard involves long hours of monotonous tasks, low pay, high stress levels, and exposure to potentially dangerous situations. Guards may face risks to their physical and mental well-being without adequate support or training. Moreover, the job can lack career advancement opportunities and may not provide satisfactory benefits. The repetitive nature of the work can lead to boredom and burnout, impacting overall job satisfaction. It is also one of the laziest jobs in the world. 11. HousekeeperIM Score: 19The job of a housekeeper can be mentally taxing due to repetitive tasks and lack of intellectual stimulation. Cleaning, organizing, and maintaining spaces may lead to feelings of monotony and unfulfillment. Additionally, the role often involves working alone, which can contribute to social isolation and a sense of disconnect.The average salary for a housekeeper is $15.04 per hour in United States.10. Garbage CollectorIM Score: 21Collecting waste involves exposure to odors, toxins, and hazardous materials, posing health risks. Moreover, the repetitive nature of the job can lead to monotony and boredom. The role is also undervalued in society, leading to a lack of respect and appreciation for the important service it provides. In 2022, the refuse and recyclable material collectors earned an annual salary of $45,560 in the US. It is one of the top 10 worst jobs in the US in 2024.9. LoggerIM Score: 22The physical demands of the job can lead to fatigue and injuries, including strains and sprains. Long hours and seasonal work patterns also contribute to the job's difficulty, impacting work-life balance. It is one of the dirtiest jobs in the US.8. PaparazziIM Score: 23Paparazzi face criticism for invasion of privacy, relentless pursuit of celebrities, and often unethical tactics to obtain photos or stories. Their job thrives on exploiting personal moments, fueling gossip and sensationalism. This relentless pursuit infringes upon individuals' right to privacy, causing distress and discomfort. It is also one of the least respected professions in America. 7. Parking Lot AttendantIM Score: 24This job involves long hours spent outdoors in all weather conditions, dealing with irate customers, and repetitive tasks like collecting fees and directing traffic. The pay is usually low, with minimal opportunities for advancement or skill development. The estimated total pay for a Parking Lot Attendant is $37,076 per year in the United States. It is one of the top ten worst jobs in the US in 2024.6. TelemarketerIM Score: 25The popularity of this job has been reducing as advancements in technology have empowered consumers to screen calls effectively through caller ID and call-blocking apps, reducing the efficacy of traditional telemarketing methods. Additionally, regulatory measures such as "Do Not Call" lists and stricter privacy laws limit the ability of telemarketers to reach potential customers. Moreover, shifts in consumer behaviour towards online shopping and digital advertising have diverted marketing efforts away from cold calling.  It is also one of the jobs that may not exist in 20 years.Click here to see the 5 Worst Jobs in the US in 2024.Suggested Articles:15 Highest Paying Jobs with a Psychology Degree12 Best Remote Jobs That Pay at Least $50 an Hour16 Remote Jobs That Pay at Least $40 Per HourDisclosure: None. 16 Worst Jobs in the US in 2024 is originally published on Insider Monkey.

Insider Monkey

16 Worst Jobs in the US in 2024

https://finance.yahoo.com/news/16-worst-jobs-us-2024-171624894.html

545cd404-3503-3aaf-9732-2362465de8f6

UDR

Strengths highlight UDR Inc's robust portfolio diversification and strategic capital allocation.Weaknesses underscore potential risks in property development and market-specific vulnerabilities.Opportunities emphasize growth potential through acquisitions and favorable market trends.Threats consider economic fluctuations, competitive pressures, and regulatory challenges.Warning! GuruFocus has detected 12 Warning Signs with UDR.On February 20, 2024, UDR Inc (NYSE:UDR), a leading real estate investment trust, filed its 10-K report with the SEC, offering a comprehensive view of its financial performance and strategic direction. UDR Inc specializes in owning, operating, and managing multifamily apartment communities across the United States. As of December 31, 2023, UDR Inc's market capitalization stood at approximately $5.5 billion, with a real estate portfolio of 168 communities and a total of 55,550 completed apartment homes. The company's commitment to shareholder value is evident through its consistent dividend payments, with an annualized declared dividend of $1.68 per common share in 2023, marking a 10.5% increase from the previous year. This financial overview sets the stage for a detailed SWOT analysis, providing investors with a clear picture of UDR Inc's strengths, weaknesses, opportunities, and threats.Decoding UDR Inc (UDR): A Strategic SWOT InsightStrengthsPortfolio Diversification and Strategic Capital Allocation: UDR Inc's strategic vision emphasizes the importance of a diversified portfolio, which mitigates market-specific risks and appeals to a broad renter and investor base. The company's portfolio includes properties across 21 markets, with a mix of urban and suburban locations and a balance of high-quality A and B properties. This diversification strategy is supported by UDR Inc's prudent capital allocation, which focuses on investments in markets with strong job formation, income growth, and a favorable multifamily housing demand/supply ratio. By maintaining a diversified portfolio, UDR Inc is better positioned to withstand economic cycles and capitalize on growth opportunities.Story continuesCommitment to Shareholders: UDR Inc's long-standing history of providing shareholder value is a testament to its financial stability and operational efficiency. The company's 51-year tenure as a REIT and its track record of 204 consecutive quarterly dividends reflect a disciplined approach to financial management and a commitment to returning value to shareholders. The 10.5% increase in the annualized declared dividend in 2023 signals confidence in the company's earnings and cash flow stability, further reinforcing UDR Inc's strength in the market.WeaknessesDevelopment and Construction Risks: UDR Inc's involvement in property development exposes the company to risks associated with construction delays, cost overruns, and lease-up challenges. As of December 31, 2023, UDR Inc was developing two wholly-owned communities with a budget of $187.5 million. While development activities present opportunities for value creation, they also introduce potential weaknesses, such as reliance on market conditions for successful lease-ups and the impact of unforeseen economic downturns on project viability.Market-Specific Vulnerabilities: Despite a diversified portfolio, UDR Inc acknowledges the potential impact of unfavorable changes in apartment market and economic conditions, such as occupancy levels and rental rates. The company's performance is inherently linked to the health of the real estate market, and any downturns in key markets could adversely affect UDR Inc's financial results. This weakness underscores the need for continuous market analysis and adaptive strategies to mitigate the effects of localized economic challenges.OpportunitiesAcquisitions and Market Expansion: UDR Inc's strategic focus on acquisitions presents significant opportunities for growth. In 2023, the company acquired six operating communities in Dallas and Austin, Texas, for approximately $354.6 million. These acquisitions align with UDR Inc's goal of increasing its presence in markets with favorable demographics and economic drivers. The company's ability to identify and capitalize on accretive acquisition opportunities can drive portfolio expansion and enhance its competitive position in the multifamily housing sector.Favorable Market Trends: UDR Inc stands to benefit from broader industry trends, such as the increasing propensity to rent and the relative affordability of rental housing compared to homeownership. As societal preferences shift towards flexible living arrangements and urbanization continues, UDR Inc's strategically located properties are well-positioned to capture rising demand. Additionally, the company's focus on markets with strong job growth and income trends supports the potential for rental income growth and occupancy stability.ThreatsEconomic Fluctuations and Competitive Pressures: UDR Inc operates in an industry that is sensitive to economic cycles. Factors such as inflation, interest rate changes, and job market fluctuations can impact the company's operating performance. Moreover, the competitive landscape in the multifamily housing sector requires UDR Inc to continuously innovate and adapt to maintain its market share. The company must navigate these threats by employing effective pricing strategies, enhancing property amenities, and ensuring customer satisfaction to remain competitive.Regulatory and Environmental Challenges: UDR Inc faces potential threats from changes in real estate laws, tax laws, and rent control or stabilization laws. Additionally, the company must contend with risks from climate change, including the impact on properties and operations. UDR Inc's proactive approach to environmental, social, and governance (ESG) reporting and its commitment to sustainability initiatives can help mitigate these threats, but regulatory and environmental challenges remain a concern for the company's long-term strategy.In conclusion, UDR Inc's SWOT analysis reveals a company with a strong foundation in portfolio diversification and shareholder commitment, yet not immune to the risks inherent in property development and market-specific vulnerabilities. Opportunities for growth through strategic acquisitions and favorable market trends are counterbalanced by threats from economic fluctuations and regulatory challenges. UDR Inc's forward-looking strategiesThis article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.This article first appeared on GuruFocus.

GuruFocus.com

Decoding UDR Inc (UDR): A Strategic SWOT Insight

https://finance.yahoo.com/news/decoding-udr-inc-udr-strategic-051030724.html

3dcc2c10-09f8-3647-a6e8-83b39384feef

UDR

As the housing market continues to evolve, with prices projected to rise, a significant investment opportunity emerges in the real estate sector, particularly within Residential Real Estate Investment Trusts (REITs) such as Mid-America Apartment Communities (NYSE:MAA), UDR, Inc. (NYSE:UDR), and Camden Property Trust (NYSE:CPT). These REITs, specializing in residential properties, are poised to benefit from a market dynamic where increasing housing prices are gradually pushing more Americans towards rental options, offering a unique blend of growth and income potential for investors.Don't Miss:Investing in real estate just got a whole lot simpler. This Dara Khosrowshahi-backed startup will allow you to become a landlord in just 10 minutes, and you only need $100.Commercial real estate has historically outperformed the stock market, but few investors have the capital or resources needed to invest in this asset class. A platform backed by industry giant Marcus & Millichap is changing that, allowing individuals to invest in commercial real estate with as little as $5,000. Mid-America Apartment Communities, with its diverse portfolio of apartment homes across the Sunbelt region and dividend of 5%, is strategically positioned to capitalize on the migration trends favoring warmer climates and more affordable living areas. This geographic focus is particularly relevant as more individuals and families find themselves priced out of the housing market, turning to rental communities as a viable and flexible alternative. MAA’s commitment to high-quality living experiences and community-building positions it as a top choice for those seeking rental accommodations, potentially driving occupancy rates and rental income higher.UDR, Inc., with its portfolio of urban and suburban apartment communities and dividend of 5%, offers investors exposure to key markets where housing affordability is becoming increasingly strained. UDR’s focus on high-demand areas, coupled with its innovative approach to property management and tenant engagement, makes it a strong contender for growth as the rental market expands. The company’s ability to adapt to changing consumer preferences and leverage technology for enhanced tenant experiences further solidifies its position in a competitive landscape.Story continuesCamden Property Trust, which offers a dividend of 4%, emphasizes building vibrant communities in prime locations, allowing it to attract and retain residents who may be deterred by the high cost of homeownership. CPT’s properties, known for their amenities and community events, offer an appealing lifestyle choice for those unable or unwilling to purchase a home in the current market. This focus on creating value beyond just housing is a key differentiator and growth driver for Camden, as it taps into the broader trend of lifestyle-oriented rental choices.The projected increase in housing prices is not just a challenge for homebuyers; it represents a structural shift in the housing market that benefits residential REITs. As more Americans find themselves priced out of homeownership, the demand for quality rental options is expected to rise, directly benefiting REITs like MAA, UDR, and CPT. These companies are well-equipped to meet the growing demand, with portfolios that offer a mix of geographic diversity, quality living experiences, and community-focused amenities.Read Next:Commercial real estate has historically outperformed the stock market, but few investors have the capital or resources needed to invest in this asset class. A platform backed by industry giant Marcus & Millichap is changing that, allowing individuals to invest in commercial real estate with as little as $5,000. Collecting passive income from real estate just got a whole lot simpler. A new real estate fund backed by Dara Khosrowshahi gives you instant access to a diversified portfolio of rental properties, and you only need $100 to get started.Image credit: Shutterstock"ACTIVE INVESTORS' SECRET WEAPON" Supercharge Your Stock Market Game with the #1 "news & everything else" trading tool: Benzinga Pro - Click here to start Your 14-Day Trial Now!Get the latest stock analysis from Benzinga?APPLE (AAPL): Free Stock Analysis ReportTESLA (TSLA): Free Stock Analysis ReportThis article Rising Housing Costs Shift the American Dream: How These REITs Are Capitalizing on the Rental Revolution originally appeared on Benzinga.com© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Benzinga

Rising Housing Costs Shift the American Dream: How These REITs Are Capitalizing on the Rental Revolution

https://finance.yahoo.com/news/rising-housing-costs-shift-american-181240220.html

cf80c01c-bced-39f3-b7a9-fe0dfdd7ac8a

UDR

DENVER, February 29, 2024--(BUSINESS WIRE)--UDR, Inc. (the "Company") (NYSE: UDR), a leading multifamily real estate investment trust and GRESB Sector Leader for its sustainability leadership, announced today that Thomas W. Toomey, Chairman and Chief Executive Officer, and the UDR Executive Team will host a roundtable discussion at the 2024 Citi Global Property CEO Conference in Hollywood, Florida, on Monday, March 4, 2024, at 11:40 a.m. Eastern Time.The Company’s roundtable discussion will be made available as a webcast which can be accessed at https://kvgo.com/2024-global-property-ceo-conference/udr-inc-march as well as on the Investor Relations section of the Company’s website, ir.udr.com. A replay of the roundtable will be available for 30 days on the Company’s website. A copy of materials provided by the Company at the conference will be available on the Investor Relations section of the Company’s website, under "Presentations & Webcasts."About UDR, Inc.UDR, Inc. (NYSE: UDR), an S&P 500 company, is a leading multifamily real estate investment trust with a demonstrated performance history of delivering superior and dependable returns by successfully managing, buying, selling, developing and redeveloping attractive real estate properties in targeted U.S. markets. As of December 31, 2023, UDR owned or had an ownership position in 60,336 apartment homes including 359 homes under development. For over 51 years, UDR has delivered long-term value to shareholders, the best standard of service to residents and the highest quality experience for associates.View source version on businesswire.com: https://www.businesswire.com/news/home/20240229054551/en/ContactsUDR, Inc. Trent [email protected] 720-283-6135

Business Wire

UDR to Participate in 2024 Citi Global Property CEO Conference

https://finance.yahoo.com/news/udr-participate-2024-citi-global-211600596.html

52a9b2d1-bde3-39e5-af96-3747a248ca97

UHS

Today we're going to take a look at the well-established Universal Health Services, Inc. (NYSE:UHS). The company's stock led the NYSE gainers with a relatively large price hike in the past couple of weeks. The company's trading levels have reached its high for the past year, following the recent bounce in the share price. As a large-cap stock with high coverage by analysts, you could assume any recent changes in the company’s outlook is already priced into the stock. But what if there is still an opportunity to buy? Let’s examine Universal Health Services’s valuation and outlook in more detail to determine if there’s still a bargain opportunity. View our latest analysis for Universal Health Services What Is Universal Health Services Worth?Good news, investors! Universal Health Services is still a bargain right now according to our price multiple model, which compares the company's price-to-earnings ratio to the industry average. In this instance, we’ve used the price-to-earnings (PE) ratio given that there is not enough information to reliably forecast the stock’s cash flows. we find that Universal Health Services’s ratio of 16.6x is below its peer average of 24.02x, which indicates the stock is trading at a lower price compared to the Healthcare industry. However, given that Universal Health Services’s share is fairly volatile (i.e. its price movements are magnified relative to the rest of the market) this could mean the price can sink lower, giving us another chance to buy in the future. This is based on its high beta, which is a good indicator for share price volatility.Can we expect growth from Universal Health Services?earnings-and-revenue-growthInvestors looking for growth in their portfolio may want to consider the prospects of a company before buying its shares. Buying a great company with a robust outlook at a cheap price is always a good investment, so let’s also take a look at the company's future expectations. Universal Health Services' earnings over the next few years are expected to increase by 32%, indicating a highly optimistic future ahead. This should lead to more robust cash flows, feeding into a higher share value.Story continuesWhat This Means For YouAre you a shareholder? Since UHS is currently below the industry PE ratio, it may be a great time to increase your holdings in the stock. With a positive outlook on the horizon, it seems like this growth has not yet been fully factored into the share price. However, there are also other factors such as capital structure to consider, which could explain the current price multiple.Are you a potential investor? If you’ve been keeping an eye on UHS for a while, now might be the time to enter the stock. Its buoyant future profit outlook isn’t fully reflected in the current share price yet, which means it’s not too late to buy UHS. But before you make any investment decisions, consider other factors such as the strength of its balance sheet, in order to make a well-informed investment decision.With this in mind, we wouldn't consider investing in a stock unless we had a thorough understanding of the risks. For example, we've discovered 1 warning sign that you should run your eye over to get a better picture of Universal Health Services.If you are no longer interested in Universal Health Services, you can use our free platform to see our list of over 50 other stocks with a high growth potential.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

Is It Too Late To Consider Buying Universal Health Services, Inc. (NYSE:UHS)?

https://finance.yahoo.com/news/too-consider-buying-universal-health-111605176.html

da0e4d6d-a00a-3551-9dfa-361e0513fed0

UHS

Investors are always looking for stocks that are poised to beat at earnings season and Universal Health Services, Inc UHS may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.That is because Universal Health is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a pretty good indicator of some favorable trends underneath the surface for UHS in this report.In fact, the Most Accurate Estimate for the current quarter is currently at $3.06 per share for UHS, compared to a broader Zacks Consensus Estimate of $3.02 per share. This suggests that analysts have very recently bumped up their estimates for UHS, giving the stock a Zacks Earnings ESP of +1.44% heading into earnings season.Universal Health Services, Inc. Price and EPS SurpriseUniversal Health Services, Inc. Price and EPS SurpriseUniversal Health Services, Inc. price-eps-surprise | Universal Health Services, Inc. QuoteWhy is this Important?A positive reading for the Zacks Earnings ESP has proven to be very powerful in producing both positive surprises, and outperforming the market. Our recent 10-year backtest shows that stocks that have a positive Earnings ESP and a Zacks Rank #3 (Hold) or better show a positive surprise nearly 70% of the time, and have returned over 28% on average in annual returns (see more Top Earnings ESP stocks here).Given that UHS has a Zacks Rank #3 and an ESP in positive territory, investors might want to consider this stock ahead of earnings. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Clearly, recent earnings estimate revisions suggest that good things are ahead for Universal Health, and that a beat might be in the cards for the upcoming report.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportStory continuesUniversal Health Services, Inc. (UHS) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Should You Buy Universal Health (UHS) Ahead of Earnings?

https://finance.yahoo.com/news/buy-universal-health-uhs-ahead-133600072.html

06ed1909-1842-3b6f-becf-5c800ef9b197

UHS

Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.In addition to the Zacks Rank, investors looking for stocks with specific traits can utilize our Style Scores system. Of course, value investors will be most interested in the system's "Value" category. Stocks with "A" grades for Value and high Zacks Ranks are among the best value stocks available at any given moment.One company to watch right now is Universal Health Services (UHS). UHS is currently sporting a Zacks Rank of #2 (Buy), as well as a Value grade of A. The stock has a Forward P/E ratio of 13.86. This compares to its industry's average Forward P/E of 15.66. Over the past 52 weeks, UHS's Forward P/E has been as high as 15.12 and as low as 10.83, with a median of 12.51.Investors will also notice that UHS has a PEG ratio of 0.96. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. UHS's PEG compares to its industry's average PEG of 1.66. Within the past year, UHS's PEG has been as high as 3.76 and as low as 0.93, with a median of 1.37.These are only a few of the key metrics included in Universal Health Services's strong Value grade, but they help show that the stock is likely undervalued right now. When factoring in the strength of its earnings outlook, UHS looks like an impressive value stock at the moment.Story continuesWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportUniversal Health Services, Inc. (UHS) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Are Investors Undervaluing Universal Health Services (UHS) Right Now?

https://finance.yahoo.com/news/investors-undervaluing-universal-health-services-144012919.html

c4aa9dd5-e794-36a6-b577-4c9256a98b0b

UHS

Brookdale Senior Living Inc. BKD announced that its February weighted average occupancy climbed 160 basis points (bps) from the year-ago level to 76.3%. However, this indicates a 10-bps decline from the January level.In the fourth quarter of 2023, BKD observed a weighted average occupancy of 78.4%, up from 77.1% a year ago. For the third quarter, the metric rose to 77.6% from 76.4% a year ago. At the fourth-quarter end, it had the capacity to serve around 59,000 residents in 41 states.BKD has experienced 28 straight months of year-over-year growth in weighted average occupancy, showcasing a consistent upward trend in occupancy levels. This positive trajectory is anticipated to contribute in increasing resident fee revenues. In 2023, resident fee revenues saw a noteworthy 10.5% year-over-year rise. The momentum is expected to persist, providing further support to the company's overall results.For the first quarter of 2024, it projects revenue per available unit (RevPAR) growth to fall in the range of 6.25-6.75%. The company experienced year-over-year RevPAR growth of 10% during the fourth quarter of 2023, contributing positively to its overall revenues. Additionally, it expects adjusted EBITDA in the range of $90 -$95 million in the first quarter of 2024.The Zacks Consensus Estimate for first-quarter 2024 is pegged at a loss of 17 cents per share, which remained stable over the past few weeks. The estimate for full-year 2024 indicates an improvement of 21.4% from the year-ago loss of 84 cents per share.The company is poised for a substantial revenue growth opportunity. BKD’s weighted average occupancy improved nearly 900 bps as of 2023-end compared with the start of pandemic recovery. Its objective is to restore occupancy and return to its pre-pandemic levels (84.5% observed in the fourth quarter of 2019). Management projects to yield at least $250 million in incremental revenues to achieve this target.Price PerformanceBrookdale shares have surged 114.5% in the past year compared with the industry’s growth of 49.6%.Story continues Zacks Investment ResearchImage Source: Zacks Investment Research Zacks Rank & Stocks to ConsiderBKD currently carries a Zacks Rank #5 (Strong Sell).Some better-ranked stocks from the Medical space are HCA Healthcare, Inc. HCA, Medpace Holdings, Inc. MEDP and Universal Health Services, Inc. UHS. HCA Healthcare and Medpace sport a Zacks Rank #1 (Strong Buy) each, and Universal Health Services carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.HCA Healthcare’s earnings surpassed the Zacks Consensus Estimate in three of the last four quarters, missing once, the average beat being 9.8%. The Zacks Consensus Estimate for HCA’s 2024 earnings and revenues suggests an improvement of 7.8% and 6.2% from the respective year-ago reported figures.The consensus estimate for HCA’s 2024 earnings has moved 0.9% north in the past 30 days. Shares of HCA have gained 31.7% in the past year.Medpace’s earnings outpaced the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 12.4%. The Zacks Consensus Estimate for MEDP’s 2024earnings and revenues suggests an improvement of 19.1% and 15.9% from the respective year-ago reported figures.The consensus estimate for Medpace’s 2024 earnings has moved 5.3% north in the past 30 days. Shares of MEDP have soared 132.7% in the past year.Universal Health Services’ earnings outpaced the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 5.9%. The consensus estimate for UHS’ 2024 earnings and revenues suggests an improvement of 19.9% and 8.4% from the respective year-ago reported figures.The consensus estimate for UHS’ 2024 earnings has moved 5.2% north in the past 30 days. Shares of UHS have rallied 50.8% in the past year.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportUniversal Health Services, Inc. (UHS) : Free Stock Analysis ReportBrookdale Senior Living Inc. (BKD) : Free Stock Analysis ReportHCA Healthcare, Inc. (HCA) : Free Stock Analysis ReportMedpace Holdings, Inc. (MEDP) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Brookdale (BKD) February 2024 Weighted Average Occupancy Rises

https://finance.yahoo.com/news/brookdale-bkd-february-2024-weighted-164700625.html

2e5f78f9-c4e5-3c81-a083-98ebc7472e44

ULTA

If you're a beginner investor, the idea of creating a portfolio from the ground up can feel like an impossible goal to achieve. That's why you should start by looking at stocks that are set to beat the market over the next 12 months, a strategy that's been proven to generate strong returns.Now, let's take a deep dive into a great stock that could be just the right addition to your portfolio.Why You Should Pay Attention to Ulta Beauty (ULTA)Bolingbrook, IL-based, Ulta Beauty Inc., previously known as Ulta Salon, Cosmetics & Fragrance, Inc., is a leading beauty retailer in the United States. Founded in 1990, the company changed its name to Ulta Beauty in January 2017.On March 25, 2020, ULTA was added to the Zacks Focus List at $177.59 per share. Shares have increased 206.36% to $544.06 since then.Three analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.02 to $25.53. ULTA boasts an average earnings surprise of 5.8%.Earnings for Ulta Beauty are forecasted to see growth of 6.3% for the current fiscal year as well.It can be very profitable to buy stocks with rising earnings estimates, as stock prices respond to revisions. By adding a Focus List stock like ULTA, there's a great chance you'll be getting into a company whose future earnings estimates will be raised, which can lead to price momentum.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportUlta Beauty Inc. (ULTA) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Why Ulta Beauty (ULTA) is a Top Stock for the Long-Term

https://finance.yahoo.com/news/why-ulta-beauty-ulta-top-143005470.html

8f99bb40-744d-3507-bf63-1d5026c5cbad

ULTA

In the latest trading session, Ulta Beauty (ULTA) closed at $556.32, marking a +1.19% move from the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.38%. On the other hand, the Dow registered a loss of 0.16%, and the technology-centric Nasdaq decreased by 0.13%.The beauty products retailer's stock has climbed by 11.38% in the past month, exceeding the Retail-Wholesale sector's gain of 6.92% and the S&P 500's gain of 4.74%.The investment community will be paying close attention to the earnings performance of Ulta Beauty in its upcoming release. The company is slated to reveal its earnings on March 14, 2024. The company's upcoming EPS is projected at $7.49, signifying a 12.13% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $3.52 billion, reflecting an 8.95% rise from the equivalent quarter last year.It's also important for investors to be aware of any recent modifications to analyst estimates for Ulta Beauty. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.19% higher. Right now, Ulta Beauty possesses a Zacks Rank of #2 (Buy).Looking at valuation, Ulta Beauty is presently trading at a Forward P/E ratio of 20.21. This signifies a premium in comparison to the average Forward P/E of 13.31 for its industry.Story continuesInvestors should also note that ULTA has a PEG ratio of 2.26 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Retail - Miscellaneous industry had an average PEG ratio of 2.34 as trading concluded yesterday.The Retail - Miscellaneous industry is part of the Retail-Wholesale sector. Currently, this industry holds a Zacks Industry Rank of 97, positioning it in the top 39% of all 250+ industries.The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.To follow ULTA in the coming trading sessions, be sure to utilize Zacks.com.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportUlta Beauty Inc. (ULTA) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Ulta Beauty (ULTA) Increases Despite Market Slip: Here's What You Need to Know

https://finance.yahoo.com/news/ulta-beauty-ulta-increases-despite-231508697.html

87cb0704-6725-3751-aa09-ccf8db8f0687

ULTA

Adobe stock has been hit by hard by institutional selling in recent days as Wall Street worries about competition from OpenAI.Continue reading

Investor's Business Daily

Sellers Swarm Around Adobe Stock Ahead Of Quarterly Results; Expectations High For Federer-Backed On Holding

https://finance.yahoo.com/m/0dd5a9a9-05a7-3d55-aa5a-2fd3f8302893/sellers-swarm-around-adobe.html

0dd5a9a9-05a7-3d55-aa5a-2fd3f8302893

ULTA

Key InsightsThe projected fair value for Ulta Beauty is US$569 based on 2 Stage Free Cash Flow to EquityCurrent share price of US$540 suggests Ulta Beauty is potentially trading close to its fair value Analyst price target for ULTA is US$552 which is 2.9% below our fair value estimateHow far off is Ulta Beauty, Inc. (NASDAQ:ULTA) from its intrinsic value? Using the most recent financial data, we'll take a look at whether the stock is fairly priced by taking the forecast future cash flows of the company and discounting them back to today's value. We will use the Discounted Cash Flow (DCF) model on this occasion. It may sound complicated, but actually it is quite simple!We generally believe that a company's value is the present value of all of the cash it will generate in the future. However, a DCF is just one valuation metric among many, and it is not without flaws. For those who are keen learners of equity analysis, the Simply Wall St analysis model here may be something of interest to you. See our latest analysis for Ulta Beauty Is Ulta Beauty Fairly Valued?We use what is known as a 2-stage model, which simply means we have two different periods of growth rates for the company's cash flows. Generally the first stage is higher growth, and the second stage is a lower growth phase. In the first stage we need to estimate the cash flows to the business over the next ten years. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years.A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, so we discount the value of these future cash flows to their estimated value in today's dollars:Story continues10-year free cash flow (FCF) forecast2024202520262027202820292030203120322033 Levered FCF ($, Millions) US$1.09bUS$1.16bUS$1.31bUS$1.32bUS$1.41bUS$1.49bUS$1.55bUS$1.60bUS$1.65bUS$1.70bGrowth Rate Estimate SourceAnalyst x7Analyst x7Analyst x4Analyst x1Analyst x1Analyst x1Est @ 3.83%Est @ 3.37%Est @ 3.04%Est @ 2.82% Present Value ($, Millions) Discounted @ 7.1% US$1.0kUS$1.0kUS$1.1kUS$1.0kUS$995US$986US$955US$921US$886US$850("Est" = FCF growth rate estimated by Simply Wall St)Present Value of 10-year Cash Flow (PVCF) = US$9.7bThe second stage is also known as Terminal Value, this is the business's cash flow after the first stage. For a number of reasons a very conservative growth rate is used that cannot exceed that of a country's GDP growth. In this case we have used the 5-year average of the 10-year government bond yield (2.3%) to estimate future growth. In the same way as with the 10-year 'growth' period, we discount future cash flows to today's value, using a cost of equity of 7.1%.Terminal Value (TV)= FCF2033 × (1 + g) ÷ (r – g) = US$1.7b× (1 + 2.3%) ÷ (7.1%– 2.3%) = US$36bPresent Value of Terminal Value (PVTV)= TV / (1 + r)10= US$36b÷ ( 1 + 7.1%)10= US$18bThe total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is US$28b. In the final step we divide the equity value by the number of shares outstanding. Compared to the current share price of US$540, the company appears about fair value at a 5.0% discount to where the stock price trades currently. The assumptions in any calculation have a big impact on the valuation, so it is better to view this as a rough estimate, not precise down to the last cent.dcfImportant AssumptionsWe would point out that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows. If you don't agree with these result, have a go at the calculation yourself and play with the assumptions. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at Ulta Beauty as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 7.1%, which is based on a levered beta of 1.055. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business.SWOT Analysis for Ulta BeautyStrengthEarnings growth over the past year exceeded the industry.Debt is not viewed as a risk.WeaknessEarnings growth over the past year is below its 5-year average.OpportunityAnnual earnings are forecast to grow for the next 4 years.Current share price is below our estimate of fair value.ThreatAnnual earnings are forecast to grow slower than the American market.Next Steps:Although the valuation of a company is important, it ideally won't be the sole piece of analysis you scrutinize for a company. The DCF model is not a perfect stock valuation tool. Preferably you'd apply different cases and assumptions and see how they would impact the company's valuation. For example, changes in the company's cost of equity or the risk free rate can significantly impact the valuation. For Ulta Beauty, we've put together three important factors you should further research:Risks: For instance, we've identified 1 warning sign for Ulta Beauty that you should be aware of.Management:Have insiders been ramping up their shares to take advantage of the market's sentiment for ULTA's future outlook? Check out our management and board analysis with insights on CEO compensation and governance factors.Other High Quality Alternatives: Do you like a good all-rounder? Explore our interactive list of high quality stocks to get an idea of what else is out there you may be missing!PS. Simply Wall St updates its DCF calculation for every American stock every day, so if you want to find the intrinsic value of any other stock just search here.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

A Look At The Intrinsic Value Of Ulta Beauty, Inc. (NASDAQ:ULTA)

https://finance.yahoo.com/news/look-intrinsic-value-ulta-beauty-110939649.html

c798345b-ff76-336c-8646-04dbd296b8bd

UNH

UnitedHealth Group's (UNH) Change Healthcare subsidiary is expected to have a "material update" as early as Tuesday following a major ransomware attack that's now on its fifth straight day and stalling care around the country.Change Healthcare helps process claims and payments for healthcare companies, including hospitals and pharmacies.Dr. Amar Desai, CEO of Optum Health, a UnitedHealthcare business segment, said the company is working to resolve the issue. He has been on daily calls with the C-suites of impacted companies, especially chief security, chief information, and chief technology officers.The company is "making sure that we have very, very robust ways of communicating with one another, and ensuring that ... in instances like this, we're aligned in the response," Desai said at the Vive healthcare conference in Los Angeles on Monday on a panel with Huntington Health CEO Dr. Lori Morgan, moderated by Yahoo Finance.United first notified the Securities and Exchange Commission (SEC) about the issue on Thursday, noting the attack began on Feb. 21. The company "identified a suspected nation-state associated cyber security threat actor," according to the filing.The state-sponsored actor has since been identified as Blackcat, a Russian-sponsored ransomware group, Optum said.Blackcat, also known as ALPHV, was infiltrated by the FBI at the end of last year, but the agency was unsuccessful in shutting it down. The criminal group has continued attacking health companies and government sites in the months before and since.The UnitedHealth Group Inc. campus in Minnetonka, Minn. (Jim Mone/AP Photo, File) (ASSOCIATED PRESS)The American Hospital Association (AHA) has advised health systems to disconnect from Change Healthcare and to create alternate plans in the event the attack continues for longer than expected."As of this date, Change Healthcare has not provided a specific timeframe for which recovery of the impacted applications is expected," AHA said in a statement Saturday.Story continuesAs of Monday, Change posted an update saying the company took action to disconnect as soon as the threat was identified, and "that Optum, UnitedHealthcare and UnitedHealth Group systems have not been affected by this issue."The company previously said it would not take shortcuts to restore activity, and added Monday that it "will continue to be proactive and aggressive with all our systems and if we suspect any issue with the system, we will immediately take action and disconnect."It is not yet clear, and may not be for some time, how many partners of Change Healthcare were affected and to what degree.Anjalee Khemlani is the senior health reporter at Yahoo Finance, covering all things pharma, insurance, care services, digital health, PBMs, and health policy and politics. Follow Anjalee on all social media platforms @AnjKhem.Click here for in-depth analysis of the latest health industry news and events impacting stock pricesRead the latest financial and business news from Yahoo Finance

Yahoo Finance

Communication is key in managing cyberattack: Optum CEO

https://finance.yahoo.com/news/communication-is-key-in-managing-cyberattack-optum-ceo-213348885.html

815aaa3f-10a7-4407-bfda-f2ac7cc57702

UNH

If you're an income-seeking investor who doesn't plan on retiring soon, I have some great news: The following three dividend stocks have a record of rapidly raising their payouts, and they're poised to keep going.Strong advantages against competitors allowed these companies to rapidly raise their dividends in recent years, and they're still in place. Here's why adding them to a diverse portfolio looks like a great way to set yourself up with a huge passive income stream once you're ready to retire.Image source: Getty Images.1. UnitedHealth GroupIf you're looking for an industry you can rely on for steady growth, it's hard to do better than the U.S. healthcare system. Every day, around 10,000 baby boomers turn 65. The growth rate of America's Medicare-eligible population will subside for several years after the last baby boomer turns 65 in 2029, but only slightly.As America's largest health insurance benefits manager, UnitedHealth Group (NYSE: UNH) is a reliable way to ride the trend toward increasing healthcare expenses. It has also been incredibly lucrative for long-term investors. The stock has delivered an outstanding 1,860% total return since the Affordable Care Act became law in 2010.At recent prices, UnitedHealth shares offer a measly 1.4% dividend yield. The health insurer raises its payout so fast, though, that it could be a top source of passive income in your retirement years. It has more than doubled since 2019 and is up 571% over the past decade.UnitedHealth reported earnings that rose 13.8% last year, and investors can reasonably expect more rapid profit growth. That's because it's not only America's largest health insurance benefits manager, it's also the country's largest employer of physicians. This gives the company a lot of chances to directly provide the benefits it's also paid to manage.2. AbbVieAging demographics bode well for drug sales, and it's hard to find a better pharma stock right now than AbbVie (NYSE: ABBV). It offers a 3.5% dividend yield at recent prices.Story continuesAbbVie's quarterly payout is up by 269% over the past decade. Dividend growth is tapering off due to the loss of U.S. market exclusivity for its former lead drug, Humira, early last year.In the fourth quarter, U.S. sales declined by 45% year over year to an annualized $11 billion. Despite collapsing U.S. Humira sales, total revenue during the quarter shrank just 5% thanks to huge contributions from two newer drugs that launched in 2019, Skyrizi and Rinvoq.Thanks to Skyrizi, Rinvoq, and a handful of more recently launched drugs, AbbVie expects total sales to return to growth in 2025 despite Humira's impending losses. Combined sales of Skyrizi and Rinvoq reached $11.7 billion in 2023, and management expects this figure to exceed $27 billion in 2027.With Rinvoq, Skyrizi, and other new products to keep moving the needle, investors can look forward to at least another decade of rapid dividend growth from this industry leader.3. Abbott LaboratoriesAbbVie was Abbott Laboratories' (NYSE: ABT) pharmaceutical division until 2013. It's still a healthcare conglomerate that develops and markets medical technology, diagnostics, and nutrition products. Abbott's stock offers a 1.8% yield at recent prices. That isn't attractive to start with, but it has risen by 72% over the past five years.The rapid decline of COVID testing limited revenue growth to 1.5% in 2023. If we exclude sales of coronavirus diagnostics, though, revenue rose 11% in 2023, and this could be another big year. Management expects total revenue to climb 8% to 10% in 2024 driven in large part by medical devices.The Food and Drug Administration approved the Freestyle Libre 3 in 2022, and sales of the blood sugar monitor are still growing fast. In the U.S., diabetes-care revenue soared 30.3% last year.The Freestyle Libre 3 is just one of several growth drivers in Abbott's extensive portfolio, but the stock has been trading at 25.9 times forward earnings estimates. That's a fair price to pay for a company that could grow its top and bottom lines by a high single-digit percentage in the decade ahead.Should you invest $1,000 in UnitedHealth Group right now?Before you buy stock in UnitedHealth Group, consider this:The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and UnitedHealth Group wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.Stock Advisor provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month. The Stock Advisor service has more than tripled the return of S&P 500 since 2002*.See the 10 stocks*Stock Advisor returns as of February 26, 2024Cory Renauer has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Abbott Laboratories. The Motley Fool recommends UnitedHealth Group. The Motley Fool has a disclosure policy.3 Magnificent Dividend Growth Stocks to Buy Now and Hold for at Least a Decade was originally published by The Motley Fool

Motley Fool

3 Magnificent Dividend Growth Stocks to Buy Now and Hold for at Least a Decade

https://finance.yahoo.com/news/3-magnificent-dividend-growth-stocks-104500701.html

ccd11767-7fb7-3067-b459-04b21123d733

UNH

In a letter to UnitedHealth Group (UNH), the US Department of Health & Human Services (HHS) is pressuring the health insurance company to pay medical service providers in the wake of a cyberattack on Chance Healthcare — a UnitedHealth subsidiary — that compromised its payments system.Yahoo Finance Health Reporter Anjalee Khemlani breaks down HHS officials' statement to UnitedHealth.For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.Editor's note: This article was written by Luke Carberry Mogan.Video TranscriptSEANA SMITH: US Department of Health and Human Services sending a message to health care leaders, talking about what has played out at UnitedHealth Group. And they want UnitedHealth Group to take additional actions to mitigate the fallout from the cyberattack on change health care. Yahoo Finance's Anjalee Khemlani is here with the latest. Anj.ANJALEE KHEMLANI: That's right, Seana. The health department sending a letter to UnitedHealth Group over the weekend saying things like the company needs to do a better job of being communicative and transparent, as well as making sure that they are making funds available for those providers whose payment systems were affected and who were basically put on pause for the longest time. The health service-- human health services calling them out to make sure that the cash flow continues.Now, what we've seen develop in the last several days is UnitedHealth sort of taking a stance of this is just a payment process system in the flow of things, and other providers, including other health service providers as well as insurers, also taking a stand in helping those providers whose payments were stopped in the form of loans, as well as just available cash. Medicare as well, which falls under the health department, also doing the same thing, as well as removing barriers like prior authorization.Now, UnitedHealth has also taken a stance of being transparent in their communication, immediately notifying of the cyberattack that affected them back in February, and taking the stance that they were also communicative of that. But the health department also, in that same letter, calling out the department-- calling out the company, saying that they need to be more communicative about what is going on.And it seems like a lot of providers are also feeling that criticism about not having enough communication, not knowing what is happening with change and how to get back online even though the company has provided regular updates. So there's still a lot of backlash from this incident, and a lot of criticism that the really large health care company has not done enough to mitigate the attack and help the providers that have been impacted. So it's still unraveling in an ongoing situation right now.BRAD SMITH: All right. Yahoo Finance's own Anjalee Khemlani. Anj, thanks so much for breaking this down for us. Appreciate it.

Yahoo Finance Video

HHS urges UnitedHealth to pay providers after cyberattack

https://finance.yahoo.com/video/hhs-urges-unitedhealth-pay-providers-144024538.html

bd84ed00-8101-32f8-aa9b-e80a0e85e881

UNH

A surge of optimism about the benefits AI will bring across industries has boosted the stock market this year.But a new report from Moody's cautions that it will be "many years" before the biggest impacts are seen across the healthcare and pharmaceutical industries currently grappling with cybersecurity risks."The adoption of AI is still in the early stages and we expect it will take many years before the full extent of its benefits are felt," Moody's said in its report."While having large amounts of data is an advantage for health-related companies in the AI race, it also brings risks related to data quality and an increased threat of cyberattacks," the firm added."The quality of data is crucial because inaccurate or incomplete data can lead to flawed AI outputs and decision-making, which have a direct impact on the health of individuals. Cyber risk, which is already high in this sector, may increase if companies seek to acquire more sensitive patient data to drive the use and benefits of AI."The recent cyberattack on UnitedHealth Group (UNH) is likely to increase caution around faster adoption of new technologies in an already wary sector. UnitedHealth's recent cyberattack carried out by a Russian-backed ransomware group prevented some patients from getting prescriptions filled. The company's latest update indicated its Change Healthcare online portal won't see all services fully restored until the week of March 18.A UnitedHealth Group insurance card in a wallet, Oct. 14, 2019. (Lucy Nicholson/REUTERS/Illustration/File Photo) (REUTERS / Reuters)As for how the industry will benefit from AI, Moody's sees pharmaceutical and medical device companies as the earliest beneficiaries given the potential for this technology to develop new products and increase productivity."Pharmaceutical companies, pharmaceutical service providers and medical device manufacturers will gain greater credit advantages from AI than other sectors such as medical care providers and laboratories," the report said.Story continuesMoody's expects the full credit benefits — essentially how much AI advances will improve existing business models — to emerge for these industries by the end of this decade. For other health-related companies like care providers and labs, it could take up to 15 years for the impacts of AI adoption to really be seen.As Alexa von Tobel, managing partner of Inspired Capital, previously told Yahoo Finance, "I think it'll be a tale of two AIs. There are a lot of places where AI isn't suitable yet."Moreover, larger companies are likely to see larger benefits, given the investment required to make the most of this technology."In addition to having the financial firepower to invest in AI, we expect industry leaders in pharmaceuticals, pharmaceutical services, and medical devices will use their large amounts of proprietary data to customize AI products and services. This will help them sustain a competitive advantage as AI technologies become more widely available and commoditized," the report said.Regulation will also add another speed bump to adopting AI, Moody's argued, noting that the heavily regulated nature of the pharma and healthcare sectors already weighs on credit ratings in the industry and the federal government is marshaling efforts to rein in AI."New legislation could initially force companies to increase spending to ensure compliance," the report said. "Over the longer term, this could have significant implications for credit quality if AI systems are subsequently restricted."How well-informed legislators are on the topic will be a key to determining benefit, the ratings agency added."The size of the impact of AI technologies will depend on government policies around its adoption in healthcare services and companies' ability to adapt to regulations, which are uncertain at the moment."Anjalee Khemlani is the senior health reporter at Yahoo Finance, covering all things pharma, insurance, care services, digital health, PBMs, and health policy and politics. Follow Anjalee on all social media platforms @AnjKhem.Click here for in-depth analysis of the latest health industry news and events impacting stock pricesRead the latest financial and business news from Yahoo Finance

Yahoo Finance

Moody's says will be 'many years' before big AI impacts are seen in healthcare, pharma

https://finance.yahoo.com/news/moodys-says-will-be-many-years-before-big-ai-impacts-are-seen-in-healthcare-pharma-182324739.html

00333248-512e-401a-99be-33fa161be8b9

UNP

(Reuters) - Railroad operator Union Pacific said on Wednesday it plans to invest $3.4 billion this year to support safer operations, renew assets and increase capacity."We invest to keep our railroad and employees safe and we will never compromise on that," CEO Jim Vena said.Union Pacific will continue to modernize the locomotive fleet, upgrading older core units. The plan also includes targeted freight car acquisitions to support replacement and growth opportunities, the rail operator said.The Omaha, Nebraska-based company, which runs through 23 states west of Chicago and New Orleans, said it is also investing in increasing capacity across its network.It will continue to expand its freight footprint, supporting business development in targeted, high-growth areas such as Southern California, Phoenix and Kansas City, Union Pacific said.(Reporting by Kannaki Deka in Bengaluru; Editing by Pooja Desai)

Reuters

Union Pacific to invest $3.4 billion to revamp railroad safety

https://finance.yahoo.com/news/union-pacific-invest-3-4-215551947.html

4aede42e-c2ec-3e18-ab3e-a43a9befc7bc

UNP

The border area that connects Southern California and the northern portion of the Mexican state of Baja California has a regional gross domestic product of around $250 billion. (Photo: U.S. Customs and Border Protection)Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: Shifting supply chains boost trade in California-Baja mega-region; Union Pacific opens expanded Phoenix intermodal terminal; Radiant Logistics expands air cargo operations in Texas; and avocado workers in Mexico file labor complaints.Shifting supply chains boost trade in California-Baja mega-regionForeign companies looking to diversify their supply chains have increasingly been choosing Mexico’s northern and central states in recent years.One of the biggest beneficiaries of the evolving global trade flows has been the so-called Cali-Baja mega-region, the border area connecting Southern California and the northern portion of the Mexican state of Baja California.“This kind of movement and trend started after the pandemic, where the companies started decoupling, fragmenting their supply chains, putting their eggs in different baskets for production,” Bertha Martinez-Cisneros, a logistics professional and educator, told FreightWaves. “These companies decided to start looking for places around the world. I think that in the case of Mexico, and especially Baja California, it’s kind of like the stars aligned, because we have a very privileged geography.”Martinez-Cisneros is the coordinator of the bachelor’s degree program in international logistics at the Center for Technical and Higher Education, a private university in Mexicali, Mexico, in Baja California. In addition to teaching, Martinez-Cisneros has held management positions in international logistics and operations for Acer Inc. and Sony Corp. in Mexico.“Baja California is on the border with the United States, but we also have the coastline along the Pacific, so we can receive shipments directly from vessels from China,” Martinez-Cisneros said. “We are also very close to Los Angeles and Long Beach, which are the main ports in the U.S., and one of the main ports in the U.S. for receiving raw materials and products from Asia.”Story continuesThe Cali-Baja mega-region is the most extensive integrated economic region along the U.S.-Mexico border, according to a 2022 study from the University of San Diego. The region comprises the two southernmost counties in California (San Diego and Imperial) and the Mexican cities within Baja California (Ensenada, Mexicali, Rosarito, San Quintin, Tecate and Tijuana).In 2020, the Cali-Baja region boasted a regional GDP of around $250 billion and an estimated $70 billion in cross-border trade flows, the study said.Additionally, the Otay Mesa port of entry connecting Tijuana to San Diego, California, processes nearly 1 million commercial trucks annually. The state of California is currently constructing the Otay Mesa East-Otay II border crossing, which will also be just south of San Diego.Otay Mesa East-Otay II will develop a new U.S.-Mexico border crossing three miles east of the original Otay Mesa port of entry. It will include 10 lanes, five for passenger vehicles and five for cargo transport. More than $1 billion has already been slated for construction.Otay Mesa East-Otay II, which began construction in August 2022, is scheduled to be completed in 2026.Martinez-Cisneros said the trend of companies nearshoring their manufacturing facilities to Mexico has also benefited the region.“Our geography is something that helps a lot in the case of nearshoring because companies see they can just ship goods from China, Singapore, Taiwan, other countries in Asia using ocean vessels, and we can receive the merchandise here in Mexico in Baja California, at facilities such as the Port of Ensenada,” Martinez-Cisneros said.The Port of Ensenada is a commercial seaport and cruise terminal about 90 miles south of San Diego. It handled 462,183 twenty-foot equivalent units, a 6% year-over-year increase compared to 2022, according to Mexican authorities.“In Baja California, we have been receiving companies from the U.S. or from other countries for a long time,” Martinez-Cisneros said. “In Mexico, Baja California is probably in third place for receiving foreign investment right now.Martinez-Cisneros said while Mexicali is the capital of Baja California, it’s the border city of Tijuana that has received the largest investments and foreign factories in the state.“Tijuana is one of the cities that received the most investments, from manufacturing, from warehousing, for logistics service and everything,” Martinez-Cisneros said.Reynosa was the Mexican city with the most commercial real estate demand from firms nearshoring operations in the country in 2022, followed by Ciudad Juarez, Tijuana and Monterrey, according to data from Newmark, a New York-based commercial real estate advisory and services firm.Foreign direct investment (FDI) in Mexico totaled over $36 billion in 2023, 2% more than 2022, according to data from Mexico’s National Institute of Statistics and Geography (INEGI).From January through September, FDI investment reached $1.1 billion in Baja California, accounting for 3.6% of the national total, which placed the state in 9th place in attracting FDI across the country.Mexico’s manufacturing sector attracted the most FDI last year at over $18 billion. In Baja California, the manufacturing industry absorbed almost 70% of the FDI in 2023. Additionally, approximately $7 out of every $10 invested in Baja California came from the United States (70.8%), followed by Japan with 15.7%.The INEGI report said that 956 maquiladora factories currently operate in Baja California, of which 621 are located in Tijuana, followed by Mexicali with 151 maquiladoras and 184 in the city of Tecate. Maquiladoras are mainly located along the border and are defined as a factory in Mexico run by a foreign company and exporting its products to the country of that company.“The commercial occupancy rate in Tijuana is somewhere around 98%. Last year, we received a lot of companies coming from different places around the world, especially Asia, for manufacturing, also looking for places for storage like warehouses, because they are sending assembly of parts or the finished products across the border.”Martinez-Cisneros said there are some obstacles and hurdles that are hampering the region’s continued growth, including a shortage of truck drivers and the need for more transportation infrastructure.“What we need as a country is to find a solution for truck drivers; we don’t have the operators here in Mexicali, here in Baja California. That is something that is the headache of all of the companies and not only from the transportation companies, but also for the manufacturing companies,” Martinez-Cisneros said. “Because we have the trucks, we have the containers, we have the boxes, but we don’t have the drivers.”Union Pacific opens expanded Phoenix intermodal terminalUnion Pacific (NYSE: UNP) recently expanded its intermodal terminal in Phoenix, providing customers a rail option between West Coast ports and the Southwest. The terminal opened on Feb. 1.“Union Pacific’s new Phoenix Intermodal Terminal is an expansion of our Phoenix yard near downtown to support working and staging intermodal trains,” Union Pacific spokesman Mike Jaxien told FreightWaves. “It was built to service round-trip international containers moving between Southern California ports and Phoenix, and we have the ability to expand.”Jaxien said the facility sources international shipping containers from the ports of Los Angeles and Long Beach, as well as Union Pacific’s intermodal container transfer facility in Long Beach.Duncan & Son Lines, a logistics firm in Buckeye, Arizona, will provide drayage support at the facility. The company focuses on international container drayage from the ports of Long Beach and Los Angeles.“Our collaboration with Duncan & Son Lines reemphasizes the value of a truck-rail transportation solution, reducing greenhouse gas emissions by up to 75%,” Jaxien said. “Union Pacific estimates this new service product could help shippers avoid more than 25,000 metric tons of greenhouse gas emissions annually, through the movement of tens of thousands of import and export containers each year.”Radiant Logistics expands air cargo operations in TexasRadiant Logistics recently opened a location in San Antonio that offers U.S.-Mexico freight forwarding services through the company’s service-by-air (SBA) network.The San Antonio operation will use Radiant’s technology platform, purchasing power and global network to provide domestic, international and U.S.-Mexico cross-border freight forwarding and logistics services, according to a news release.Mark and Rebecca Sweat will lead Radiant’s SBA-San Antonio location.“We are very excited to be joining Radiant and the SBA network,” Mark Sweat said. “With Radiant, we believe we have found a unique opportunity to leverage our own strengths along with the capabilities of the Radiant network to bring additional value to our customers here in South Texas.”Radiant Logistics is a third-party logistics company, providing global transportation and logistics services primarily to customers in the U.S. and Canada.Avocado workers in Mexico file labor complaintsWorkers from the RV Fresh guacamole manufacturing facility in Michoacan, Mexico, filed a labor complaint under the United States-Mexico-Canada Agreement (USMCA) on Wednesday.The Office of the U.S. Trade Representative (USTR) said the complaint was filed under the USMCA’s rapid response labor mechanism.The petition alleges violations of workers’ rights to freely associate and collectively bargain, following a collective bargaining agreement legitimation vote on June 23, which confirmed the MP Union as the representative union at RV Fresh.According to the petition, officials at RV Fresh have since refused the MP Union and its leadership access to the RV Fresh facility.RV Fresh officials have also interfered with the selection of union delegates and used intimidation tactics to undermine the union’s organizing activities, the petition said.“Any action that undermines workers’ rights to organize and negotiate collectively is contrary to the core objectives embedded in the USMCA and Mexico’s labor laws,” Thea Lee, deputy undersecretary of labor for International affairs, said in a news release.USTR has 30 days to review the claim and determine whether to bring the case to the Mexican government for further review.More articles by Noi MahoneyTrump-supporting truckers boycott loads to New York CityBorder bridges blocked as former rail workers seek back pay329 layoffs hit freight-related firms in TexasThe post Borderlands: Shifting supply chains boost trade in California-Baja mega-region appeared first on FreightWaves.

FreightWaves

Borderlands: Shifting supply chains boost trade in California-Baja mega-region

https://finance.yahoo.com/news/borderlands-shifting-supply-chains-boost-120000931.html

57a6f42a-f920-3757-b903-09f823095453

UNP

Union Pacific’s UNP efforts to reward shareholders during challenging times and cost control measures have positively impacted the bottom line. However, weak freight revenues and volumes are concerning, along with a high debt load.Factors Favoring UNPUnion Pacific's robust 2023 financial performance, featuring strong cash generation of $8.38 billion from operations and $1.54 billion in free cash flow, supports shareholder-friendly activities. UNP returned $3.9 billion to shareholders through dividends and buybacks. With a proactive dividend policy, including two hikes in 2021 and a 10% increase in May 2022 to $1.30 per share, Union Pacific demonstrates confidence in its strong financial position.In the fourth quarter of 2023, UNP maintained flat year-over-year operating expenses, showcasing its commitment to cost control. Despite rising oil prices, fuel costs saw a notable 11% reduction in 2023.Key RisksUNP’s high debt levels are a cause of concern, with the debt/earnings before interest, taxes, depreciation and amortization (EBITDA) ratio consistently increasing over the years, rising from 1.9 in 2017 to 3 at the end of 2023. This upward trend does not bode well as far as the company’s overall debt-paying capacity is concerned.A volume decline of 1% in 2023, driven by soft consumer markets and reduced fuel surcharge revenues, further raises concerns. Weakness in revenues is expected to persist in the near term, with an estimated 0.6% decline in overall volumes for the first quarter of 2024.UNP’s operating ratio (operating expenses as a percentage of revenues) witnessed a 220-basis point deterioration, reaching 62.3% by the end of 2023, primarily influenced by low revenues. The trend is expected to persist, with ongoing costs related to recently negotiated labor deals contributing to our expectation of 62.7% as far as the operating ratio in the first quarter of 2024 is concerned. This underscores the current challenges faced by the company in balancing operational efficiency amid cost dynamics.Story continuesZacks RankUNP currently carries a Zacks Rank #3 (Hold)Stocks to ConsiderSome better-ranked stocks for investors’ consideration from the Zacks Transportation sector include GATX Corporation GATX and Skywest Inc. SKYW. Each stock currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.GATX has an encouraging track record with respect to earnings surprise, having surpassed the Zacks Consensus Estimate in three of the past four quarters (missing the mark in the remaining one). The average beat is 16.47%.The Zacks Consensus Estimate for 2024 earnings has been revised 6.1% upward over the past 90 days. GATX has an expected earnings growth rate of 3.7% for 2024. Shares of GATX have risen 19.5% in the past year.SkyWest's fleet modernization efforts are commendable. The Zacks Consensus Estimate for SKYW’s 2024 earnings has improved 11.1% over the past 90 days. Shares of SkyWest have surged 222.1% in the past year.The company has an expected earnings growth rate of more than 100% for 2024. SKYW delivered a trailing four-quarter earnings surprise of 128.02%, on average. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportUnion Pacific Corporation (UNP) : Free Stock Analysis ReportSkyWest, Inc. (SKYW) : Free Stock Analysis ReportGATX Corporation (GATX) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Here's Why It Is Worth Holding Union Pacific (UNP) Stock Now

https://finance.yahoo.com/news/heres-why-worth-holding-union-122400543.html

669814c4-a8aa-361f-adca-cb6be452f003

UNP

Union Pacific sued the city of Palestine, Texas, in 2019 to nullify a 152-year-old contract to keep a certain number of jobs in the town indefinitely. (Photo: Jim Allen/FreightWaves)A Texas appeals court recently declared an 1872 jobs agreement between Palestine, Texas, and Union Pacific to be unenforceable.The ruling moves Union Pacific (NYSE: UNP) a step closer to its goal of closing a rail car shop in the east Texas town of 18,000.The 12th Court of Appeals in Tyler, Texas, issued the ruling on Feb. 22, finding that the agreement requiring Union Pacific to maintain a set number of jobs in Palestine — a pact that was signed in 1872 and updated in 1954 — places restraints on Union Pacific regarding interstate commerce, which is not permitted under federal law.“It is ordered … by this court that the judgment be reversed and judgment rendered granting Union Pacific’s motion for summary judgment and motion to vacate the 1955 Judgment and July 2021 injunction,” according to the decision from the 12th Court of Appeals.Union Pacific has made several legal attempts to modify or end the agreement over the years. In 1955, a Texas court ruled the railway giant was required to maintain jobs in Palestine. Union Pacific sued Palestine in 2019, again attempting to nullify the contract to keep 65 jobs in the town indefinitely.Union Pacific is based in Omaha, Nebraska. The company has more than 33,000 employees across the country. In 2023, Union Pacific had revenue of $24.1 billion, a 3% year-over-year decline compared to 2022.Palestine is roughly equidistant from Dallas, Houston and Shreveport, Louisiana.Harris Lohmeyer, a retired Union Pacific employee who has led fundraising efforts to continue the court case, told the Palestine-Herald Press that lawyers for Anderson County would request a rehearing and possibly a review by the state Supreme Court.“Under the Texas Civil Practices and Remedies Code, this opinion and judgment are automatically stayed, pending further appeals. This means that the required employment positions at Palestine will remain in place until all appeals are completed,” Lohmeyer told the newspaper. “This is a David versus Goliath scenario. Twice before, we lost all the way until the last rulings, where we came out on top. All we can hope for is the best outcome for the employees.”Story continuesThe 152-year-old agreement between Union Pacific and Palestine dates back to the days when the city was at the crossroads of several railroad companies that promised to keep jobs there indefinitely, according to Union Pacific.“The Palestine Car Shop is one of only two car shops on the Union Pacific Railroad that perform heavy modifications and repairs to freight cars,” the company said on its website. “The Palestine workforce of more than 100 employees has earned a reputation for safely and efficiently delivering quality work to their customers.”More articles by Noi MahoneyUS-Mexico trade totaled $64.5B in JanuaryTexas-based customs broker expands cross-border footprintShifting supply chains boost trade in California-Baja mega-regionThe post Texas court sides with Union Pacific over 1872 jobs pact with town appeared first on FreightWaves.

FreightWaves

Texas court sides with Union Pacific over 1872 jobs pact with town

https://finance.yahoo.com/news/texas-court-sides-union-pacific-203928175.html

6e178bcf-03d5-3026-a0a8-71de8afe846c

UPS

FedEx maintains 114 Boeing 757-200 freighters in its fleet. These two are between flights at Fort Worth Alliance Airport in Texas. UPS, by contrast, has 75 of the same aircraft. (Photo: Jim Allen/FreightWaves)FedEx would benefit from the partial, or complete, loss of its huge contract with the U.S. Postal Service because it would force the parcel delivery giant to downsize a bloated and expensive air transport network, which could help revive profitability, said Brandon Oglenski, who covers the company for Barclays Bank.FedEx Express (NYSE: FDX) and UPS (NYSE: UPS) move similar quantities of domestic and international express packages, but because FedEx has a much bigger airline, it chases low-yielding general cargo to fill excess capacity, contributing to lower earnings than investors have expected in recent years, according to the senior transportation and logistics analyst.As part of a $4 billion cost campaign and initiative to consolidate portions of its Express, Ground and Freight networks, management recently outlined a three-pronged approach for driving aircraft density that doubles down on dedicating aircraft for deferred freight. The new strategy, dubbed Tricolor, is designed to segregate priority overnight parcels from slower freight to keep sort centers more fluid and lower expenses.“FedEx’s new Tricolor initiative muddies the water, making it less clear how much air capacity and cost the company will reduce. Nonetheless, we view potential cessation of USPS flying or a renegotiated contract as driving earnings upside for FedEx,” Oglenski said in a recent client report. “We see FedEx as potentially able to cut 50% of daytime network capacity if the USPS contract is not renewed, which we estimate could save the company $1.5 billion.“UPS operates a much smaller daytime air operation, effectively only flying aircraft where two-to-three day service commitments cannot be achieved by truck. We believe a similar footprint at FedEx could be accretive to earnings, as the company would not be trying to sell expensive air capacity into truck dominated linehaul markets.”Postal business becomes a burdenA majority of FedEx Express’ air network is geared to daytime flying for the Postal Service. Over nearly a quarter-century, the Postal Service has grown into FedEx’s largest customer. Conversely, FedEx has been the largest provider of air transportation capacity to the Postal Service for 20 consecutive years, according to data compiled by David Hendel, a transportation attorney at Culhane Meadows. But under a streamlining initiative four years ago, the agency decided to use less air transportation and rely more on cheaper ground carriers, which is eating into FedEx Express volumes distributed via its Memphis, Tennessee, hub.Story continuesFedEx’s revenue from its Postal Service contract in the fiscal year ending Sept. 30, 2022, fell $236 million to $1.9 billion and is expected to decrease again in Hendel’s next list. Postal business represents 4% of total and 10% of domestic Express revenue at FedEx. The contract previously generated annual revenue of at least $2 billion.FedEx devotes about 100 aircraft to carry postal business at an annual cost of about $3 billion, according to Oglenski’s research. In its December earnings report, the company identified the Postal Service contract as a $400 million drag on earnings. The Priority Mail packages that FedEx primarily hauls have a similar service (two to three days) and pricing profile to packages moved by ground transport, which translates to lower yields and margins when using air transport.Source: BarclaysFedEx officials privately acknowledge that the Postal Service contract is barely profitable. Minimum service requirements have forced FedEx to commit expensive plane capacity to relatively low-yielding parcel volume.Pat DiMento, FedEx’s vice president of flight operations and training, recently told a group of airline employees that the postal contract led to network inefficiencies as FedEx accommodated increases in mail volumes while priority flying at night stayed the same, according to audio of the private meeting obtained by FreightWaves. A route from Raleigh, North Carolina, to Memphis, for example, might only require a small jet for overnight delivery, but FedEx will upsize to a larger freighter to meet the daytime mail requirement.FedEx is likely to lose 50% of its daytime flying with the Postal Service, he speculated.UPS air network is leanerLargely due to the Postal Service business, domestic air operations are much larger at Fed Express than at UPS despite their having a similar share of the high-yielding express package market.FedEx’s mainline fleet is 43% larger than UPS’ — 418 to 292 aircraft, according to company fact sheets. The company operates 24% more flights and has 40% more capacity than its rival, resulting in annual airline operating expenses of $18 billion compared to $8 billion at UPS, Oglenski estimated. (He acknowledged the figures are skewed a bit because FedEx tends to allocate a greater share of parcel network costs in the airline to the income statement than does UPS.)Source: BarclaysThe Barclays analyst said air assets with high fixed costs are justified for express networks. They depend on highly orchestrated operations with precision scheduling to meet demanding service expectations, and carriers can charge a significant premium above standard transportation.While FedEx generates $6 billion more global airfreight revenue than UPS, overreliance on the air network has suppressed operating profits for a long time, Oglenski argued.Under the Tricolor strategy, however, FedEx also intends to aggressively go after heavyweight cargo booked by logistics providers to offset slower growth in the main Express product and declining postal business. Executives announced that the fleet will be reallocated to the so-called Orange network, which will operate off-schedule to carry heavy freight that doesn’t require maximum speed and is better suited for a truck-fly-truck delivery model than flying the entire trip. These planes will fly into primary and regional sortation centers such as Newark, New Jersey, and Oakland, California, during the daytime when workers have more time to build dense pallets. The idea is that by segregating parcels and freight, the hub facilities will operate more efficiently because the two shipment types are processed differently.Although management has publicly discussed shrinking the freighter fleet in line with lower demand, DiMento said the new strategy is aimed at shippers with both parcel and freight needs that like using a single service provider when possible.“If we don’t capture some of that middle band, we will never get their [shippers’] freight that is also in the priority range. Right now, we don’t offer much in that middle band to save money for these companies. So they are trying to capture that so that we can also grow what is our priority, international business,” he said in the private meeting.Management pushed back on the characterization that the company is going after general cargo, saying the Orange network will function as an extension of the carrier’s shared truckload networks around the world.Tricolor “expands FedEx’s offerings across the globe for freight shipments which have similar characteristics to less-than-truckload vs. the much heavier and lower yield per-pound consignments which are the provenance of traditional all-cargo carriers,” Richard Smith, president and CEO of airline and international at FedEx Express, said in a letter to FreightWaves. “In addition to international LTL shipments, the Orange network handles International Economy packages that similarly interface with FedEx’s global ground parcel systems at very low incremental costs.”Source: BarclaysOglenski questioned the attempt to offer underutilized aircraft space to the “saturated deferred freight market, dominated by improved and much lower cost LTL offerings from the likes of FedEx Freight, Old Dominion and XPO.”When the Postal Service contract comes up for renewal later this year, FedEx needs to renegotiate for better pricing on a smaller piece of the Priority Mail business or consider walking away from the contract, he said. FedEx has previously said the Postal Service contract will need to be revised for it to consider renewal.“We appreciate the relationship we have enjoyed with the United States Postal Service for the past 22 years. Like any other customer relationship, we are focused on ensuring it continues to make good business sense for both parties as we each realign our networks for the future,” the company said in a statement.Jettisoning the postal business presents an opportunity to halve the daytime air operation and rely more heavily on cheaper linehaul movement of deferred packages, as UPS does, said Oglenski.“While we find the desire to keep capacity in the market admirable, decades of margin underperformance and lack of generating re-investable returns suggest the more prudent action is downsizing operations,” he wrote.Click here for more FreightWaves and American Shipper articles by Eric Kulisch.RECOMMENDED READING:FedEx braces for 50% cut in Postal Service air contractFedEx fleet restructure poses threat to freighter operatorsThe post How FedEx could win by losing its Postal Service business appeared first on FreightWaves.

FreightWaves

How FedEx could win by losing its Postal Service business

https://finance.yahoo.com/news/fedex-could-win-losing-postal-120000470.html

0625f201-2170-3168-ac2b-229b63f0d3f7

UPS

In this article, we will take a detailed look at Bill Gates' 16 Dividend Stocks To Buy. For a quick overview of such stocks, read our article Bill Gates' 5 Dividend Stocks To Buy.The era of low interest rates did not bode well for dividend investing as investors preferred to pile into growth stocks instead of dividend-paying equities. Especially after the 2008 financial crisis ended, dividend stocks' contribution to overall market returns declined. A Wall Street Journal report said that US stocks with dividend yields above 5% returned 450% since the end of 2008, compared the 640% gain posted by the broader S&P Composite 1500. On the other hand, companies that do not pay dividends have posted gains of about 1500%. But since the Federal Reserve started increasing interest rates and speculation of a "higher for longer" scenario becomes relevant, investors are starting to pay attention to dividend stocks.The WSJ report also quoted Daniel Peris, the portfolio manager at investment banking company Federated Hermes, who said in his book “The Ownership Dividend" that the trend in which dividend stocks lost their mojo amid low interest rates was temporary as he believes the pendulum is about to swing in the favor of dividend stocks.But does all dividend stocks worth your attention? As you will see in this article, smart investors and billionaires prefer high-quality dividend stocks with low volatility and strong businesses. The WSJ report said investing in dividend stocks with low volatility has outperformed other notable investment strategies about 60% of the time since 1998.Bill Gates' 16 Dividend Stocks To BuyMethodologyFor this article we scanned the Q4'2023 portfolio of Bill & Melinda Gates Foundation Trust and chose its top dividend stocks picks. Hedge funds’ top 10 consensus stock picks outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here).16. Hormel Foods Corp (NYSE:HRL)Bill Gates' Stake: $70,490,762With a dividend yield of about 3.7%, Hormel Foods Corp (NYSE:HRL) ranks 16th in our list of the top dividend stocks in Bill Gates' portfolio as of the end of 2023.Story continuesBill & Melinda Gates Foundation owns a $70 million stake in Hormel Foods Corp (NYSE:HRL).15. Danaher Corp (NYSE:DHR)Bill Gates' Stake: $86,289,820Earlier this month Danaher Corp (NYSE:DHR) increased its dividend by a whopping 12.5%.As of the end of the fourth quarter of 2023, 90 hedge funds out of the 933 funds in Insider Monkey's database had stakes in Danaher Corp (NYSE:DHR). The most notable stake in Danaher Corp (NYSE:DHR) is owned by Ken Fisher's Fisher Asset Management which owns a $978 million stake in Danaher Corp (NYSE:DHR).Headwaters Capital Management stated the following regarding Danaher Corporation (NYSE:DHR) in its fourth quarter 2023 investor letter:“Danaher Corporation’s (NYSE:DHR) acquisition offer for ABCM was approved by shareholders on 11/6/23. Shareholders approved the deal based on trough fundamentals (potential China weakness) and trough valuation (the broader market bottomed on 10/27). DHR took advantage of broader market fears and mis-aligned management incentives to acquire Abcam at a cheap price. While disappointing, ABCM was still a very successful investment for Headwaters as it outperformed the market by +27% during our ownership. The cash received from the acquisition was immediately re-deployed into the newest addition to the portfolio, IPAR (discussed below).”14. Kraft Heinz Co (NASDAQ:KHC)Bill Gates' Stake: $96,983,748With a 4.4% dividend yield and a recession-proof business, American food company Kraft Heinz Co (NASDAQ:KHC) ranks 14th in our list of the best dividend stocks according to Bill Gates. Bill & Melinda Gates Foundation owns a $97 million stake in Kraft Heinz Co (NASDAQ:KHC).As of the end of the fourth quarter of 2023, 44 hedge funds out of the 933 funds tracked by Insider Monkey had stakes in Kraft Heinz Co (NASDAQ:KHC).13. Anheuser-Busch Inbev SA (NYSE:BUD)Bill Gates' Stake: $110,047,860Anheuser-Busch Inbev SA (NYSE:BUD) is in the spotlight for two reasons. First, data from Nielsen has shown that the Bud Light brand saw improvement in sales during the one-month period ending January 27. Second, Donald Trump has called on his supporters to give Anheuser-Busch Inbev SA (NYSE:BUD) a "second chance" and called Anheuser-Busch Inbev SA (NYSE:BUD) a "Great American Brand." Trump was referring to the backlash Anheuser-Busch Inbev SA (NYSE:BUD) received from conservatives in the US after its collaboration with  transgender TikTok star Dylan Mulvaney.As of the end of the fourth quarter of 2023, Bill Gates' foundation owns a $110 million stake in Anheuser-Busch Inbev SA (NYSE:BUD).12. United Parcel Service, Inc. (NYSE:UPS)Bill Gates' Stake: $118,722,643United Parcel Service, Inc. (NYSE:UPS) ranks 12th in our list of the best dividend stocks in Bill Gates' 2024 portfolio. Last month, UPS declared a 0.6% increase in its prior dividend. Forward dividend yield came in at over 4%.A total of 46 hedge funds out of the 933 funds in Insider Monkey's database had stakes in United Parcel Service, Inc. (NYSE:UPS). Bill & Melinda Gates Foundation owns a $119 million stake in United Parcel Service, Inc. (NYSE:UPS).ClearBridge Large Cap Value Strategy made the following comment about United Parcel Service, Inc. (NYSE:UPS) in its Q3 2023 investor letter:“A higher-for-longer rate mentality taking hold was a headwind for economically sensitive stocks. Rising wages have been one of the main drivers of inflation, and this has proved to be a sticky area, keeping the Fed’s attention and weighing on share prices. For example, United Parcel Service, Inc. (NYSE:UPS) renegotiated a wage increase for its union-backed workforce this summer, which weighed on margins that were already being constricted by slowing volumes. While the new union deal will dampen profits over the next 12 months due to the front-end-loaded nature of the new five-year contract, management gained increased flexibility to deploy automation, which we think should further enhance UPS’s strong competitive position and provide a long-term tailwind to profitability.”11. Crown Castle Inc (NYSE:CCI)Bill Gates' Stake: $163,578,094Telecom infrastructure REIT Crown Castle Inc (NYSE:CCI) is a high-yield dividend stock in Bill Gates' Q4 portfolio. The stock has a dividend yield of over 5.5%.The stock is making waves after Crown Castle Inc's (NYSE:CCI) founder Ted Miller nominated four people for board director positions and outlined a restructuring plan that includes selling off its fiber assets.Carillon Eagle Growth & Income Fund made the following comment about Crown Castle Inc. (NYSE:CCI) in its Q2 2023 investor letter:“Crown Castle Inc. (NYSE:CCI) detracted from performance as telecom companies have temporarily slowed their deployment of additional cellular spectrum. This slowdown could impair future growth for cell tower companies.”10. Waste Connections Inc (NYSE:WCN)Bill Gates' Stake: $320,807,352Canadian-based Waste Connections Inc (NYSE:WCN) is a low-yield dividend stock in Bill Gates' portfolio. Earlier this month Waste Connections Inc (NYSE:WCN) posted fourth quarter results. Adjusted EPS in the quarter came in at $1.11, beating estimates by $0.02. Revenue in the quarter jumped 9.1% year over year to $2.04 billion.Bill & Melinda Gates Foundation owns a $321 million stake in Waste Connections Inc (NYSE:WCN).TimesSquare Capital U.S. FOCUS Growth Strategy made the following comment about Waste Connections, Inc. (NYSE:WCN) in its Q3 2023 investor letter:“Waste Connections, Inc. (NYSE:WCN), a non-hazardous waste company, pulled back by -6%. They serve residential, commercial, municipal, and industrial customers in the U.S. and Canada. Second quarter results included inline revenues, an upside to profits on better margins, though with slightly lower volumes. Management noted that volumes came in weaker than anticipated due to intentionally shedding low margin contracts. Forward revenue guidance was lowered slightly, reflecting lower surcharges from falling diesel prices.”9. FedEx Corp (NYSE:FDX)Bill Gates' Stake: $388,147,555FedEx Corp (NYSE:FDX) has a dividend yield of over 2% as of February 24. Bill & Melinda Gates Foundation owns a $388 million stake in FedEx Corp (NYSE:FDX). This fund is the biggest hedge fund stakeholder in FedEx Corp (NYSE:FDX) out of the 70 funds that had stakes in FedEx Corp (NYSE:FDX) as of the end of the fourth quarter of 2023.The London Company Large Cap Strategy stated the following regarding FedEx Corporation (NYSE:FDX) in its fourth quarter 2023 investor letter:“FedEx Corporation (NYSE:FDX) – After a very positive start to the year, FDX lagged during 4Q after a weak earnings report and lowered guidance. Fundamentals improved throughout the year as FDX enacted major cost cuts, but a decline in volumes in the quarter was too much for the new cost structure to overcome. Longer term, FDX has the potential to be a strong player in the transportation industry, but it will have to continue adjusting its fleet and network to an evolving marketplace.”8. Walmart Inc (NYSE:WMT)Bill Gates' Stake: $477,704,566Walmart Inc (NYSE:WMT) recently increased its annual dividend by 9%. This marked the 51st consecutive year of dividend increases from Walmart Inc (NYSE:WMT).As of the end of the fourth quarter of 2023, 85 hedge funds out of the 933 funds tracked by Insider Monkey had stakes in Walmart Inc (NYSE:WMT).7. Coca-Cola Femsa SAB de CV (NYSE:KOF)Bill Gates' Stake: $588,161,006The Mexican arm of Coca Cola, Coca-Cola Femsa SAB de CV (NYSE:KOF), ranks seventh in our list of the top dividend stocks in Bill Gates' portfolio. The Bill & Melinda Gates Foundation had a $478 million stake in Coca-Cola Femsa SAB de CV (NYSE:KOF).Hayden Capital made the following comment about The Coca-Cola Company (NYSE:KO) in its third 2023 investor letter:“It’s not just emerging markets either, where one could argue a “scarcity premium” given fewer quality public companies. Even in the US, The Coca-Cola Company (NYSE:KO) trades at ~30x P/E despite having the same earnings as 10 years ago.Both of these companies actually have lower revenues than 10 – 15 years ago too, indicating that their profit growth is mostly from margin expansion. This can only last for so long before there’s no more excess expenses left to cut.I find it ironic that all these companies trade as “bond-equivalents” in the minds of investors – even commanding lower yields than US treasuries, the safest security in the world. But it’s clear that their businesses are not nearly as safe. Coca-Cola is facing disruption risk from consumers shifting to new, heathier beverage brands.But these companies are ~35% more expensive than US Treasuries, despite the heightened risk. On a risk-adjusted basis, one could argue the implied premium is even higher.”Perhaps the explanation is simply the price volatility difference between these stocks and treasuries over the last two years. For example, 10-year Treasury bonds are down ~-20% since the beginning of 2022. By comparison, KO and PG are remarkably down only -4 – 6% over that time frame.”6. Ecolab Inc (NYSE:ECL)Bill Gates' Stake: $1,034,999,027Water treatment and cleaning solutions company Ecolab Inc (NYSE:ECL) is one of the top performers in Bill Gates' portfolio, with the stock up 40% over the past one year. It has a dividend yield of just over 1% as of February 24. The Bill & Melinda Gates Foundation has a $1 billion stake in Ecolab Inc (NYSE:ECL).Earlier this month Ecolab Inc (NYSE:ECL) posted Q4 results. Adjusted EPS in the fourth quarter came in at $1.55, beating estimates by $0.01. Revenue in the quarter jumped 7% year over year to $3.9 billion, missing estimates by $40 million.Mairs & Power Growth Fund stated the following regarding Ecolab Inc. (NYSE:ECL) in its fourth quarter 2023 investor letter:“All of our Materials holdings—Ecolab Inc. (NYSE:ECL), HB Fuller (FUL), and Sherwin Williams (SHW)—also posted strong results in 2023, a stark reversal from the prior year. After oil prices spiked above $100 in 2022 due to the Ukraine-Russia Conflict, oil has since pulled back to the low $70s. Oil and its by-products are major inputs for all of our Materials holdings; as such, lower oil prices have led to a rebound in profits. For example, our largest Materials holding—Ecolab—is expected to increase earnings more than 15% this year after declining 5% last year.” Click to continue reading and see Bill Gates' 5 Dividend Stocks To Buy.Suggested articles:What Ray Dalio Is Doing These Days? – Top 10 Stock Picks in 202315 Stocks Dumb Money’s Steve Cohen Is Betting On NowAQR Capital Management: AUM, Performance, Stock PicksDisclosure: None. Bill Gates' 16 Dividend Stocks To Buy is originally published on Insider Monkey.

Insider Monkey

Bill Gates’ 16 Dividend Stocks To Buy

https://finance.yahoo.com/news/bill-gates-16-dividend-stocks-193811657.html

6e7b9ace-c2e8-30bc-88cc-ebd3ecce90f6

UPS

The unemployment rate is just as low, the share of adults in the labor force is just as high, and wages are growing at roughly the same pace after inflation. The impact of this change can already be seen in both individual companies and the broader economy. It has led to a persistent shortage of workers, especially in jobs that seem less desirable because, for example, they require in-person work or fixed hours.Continue reading

The Wall Street Journal

Americans Don’t Care as Much About Work. And It Isn’t Just Gen Z.

https://finance.yahoo.com/m/693b215b-3e21-32bc-97f9-40132a12cb38/americans-don%E2%80%99t-care-as-much.html

693b215b-3e21-32bc-97f9-40132a12cb38

UPS

The most recent trading session ended with United Parcel Service (UPS) standing at $154.75, reflecting a +0.51% shift from the previouse trading day's closing. This change outpaced the S&P 500's 0.11% loss on the day. At the same time, the Dow added 0.12%, and the tech-heavy Nasdaq lost 0.41%.The the stock of package delivery service has risen by 5.26% in the past month, leading the Transportation sector's gain of 1.84% and the S&P 500's gain of 2.7%.Investors will be eagerly watching for the performance of United Parcel Service in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on April 23, 2024. In that report, analysts expect United Parcel Service to post earnings of $1.57 per share. This would mark a year-over-year decline of 28.64%. Meanwhile, the latest consensus estimate predicts the revenue to be $21.98 billion, indicating a 4.1% decrease compared to the same quarter of the previous year.For the full year, the Zacks Consensus Estimates project earnings of $8.31 per share and a revenue of $93.29 billion, demonstrating changes of -5.35% and +2.56%, respectively, from the preceding year.Investors should also note any recent changes to analyst estimates for United Parcel Service. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.02% decrease. Currently, United Parcel Service is carrying a Zacks Rank of #3 (Hold).Story continuesDigging into valuation, United Parcel Service currently has a Forward P/E ratio of 18.52. This valuation marks a premium compared to its industry's average Forward P/E of 16.18.Also, we should mention that UPS has a PEG ratio of 1.95. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Transportation - Air Freight and Cargo stocks are, on average, holding a PEG ratio of 1.95 based on yesterday's closing prices.The Transportation - Air Freight and Cargo industry is part of the Transportation sector. At present, this industry carries a Zacks Industry Rank of 236, placing it within the bottom 7% of over 250 industries.The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportUnited Parcel Service, Inc. (UPS) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Why the Market Dipped But United Parcel Service (UPS) Gained Today

https://finance.yahoo.com/news/why-market-dipped-united-parcel-220017272.html

42aa054c-5910-3917-9575-faea05807fb9

URI

A month has gone by since the last earnings report for United Rentals (URI). Shares have added about 1.1% in that time frame, underperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is United Rentals due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.United Rentals’ Q4 Earnings Beat, Margins FallUnited Rentals reported impressive fourth-quarter 2023 results. Its earnings and revenues beat the Zacks Consensus Estimate and increased on a year-over-year basis.The upside was mainly driven by sustained growth across the business, profitability and returns, underpinned by broad-based activity.Moreover, URI has provided strong guidance for 2024, given the strength of the present market condition and the multi-year tailwinds the company sees across infrastructure, manufacturing and energy and power.Inside the HeadlinesAdjusted earnings of $11.26 per share topped the Zacks Consensus Estimate of $10.85 by 3.8%. The reported figure increased by 15.6% from the prior-year figure of $9.74 per share.Total revenues of $3.728 billion beat the consensus mark of $3.628 billion by 2.8% and grew 13.1% year over year.Rental revenues increased 13.5% from the year-ago quarter to $3.12 billion. This upside was mainly attributable to broad-based demand growth across end markets served by the company. Also, Ahern Rentals' buyout contributed to the growth. Fleet productivity inched up 0.3% and average original equipment costs (“OEC”) increased 15.1% year over year.On a pro forma basis, rental revenues grew 7.6% year over year, given a 6.9% increase in average OEC and a 2.4% increase in fleet productivity.Used equipment sales rose 7.1% from a year ago. The Used equipment sales produced an adjusted gross margin of 55.3%, which contracted 630 basis points (bps). This decline stemmed from the anticipated normalization of the used equipment market and the impact of sales of equipment acquired from Ahern Rentals.Story continuesSegment DiscussionGeneral Rentals: This segment registered 13.1% year-over-year growth in rental revenues to $2.289 billion. Rental gross margin fell 250 bps year over year to 39.1% due to the impact of higher depreciation expense related to the Ahern Rentals acquisition.Specialty: Segmental rental revenues increased 14.6% year over year to $830 million. Rentals’ gross margin contracted 210 bps on a year-over-year basis to 47.2%. This was due to a higher proportion of certain lower-margin ancillary revenues and increases in certain operating expenses.MarginsThe company’s total equipment rentals’ gross margin declined 230 bps year over year to 41.3%.Adjusted EBITDA for the reported period grew 9.8% year over year to $1.809 billion. However, the adjusted EBITDA margin decreased 150 bps to 48.5%.2023 HighlightsFor the full year, the company generated total revenues of $14.332 billion (up 23.1%) and adjusted earnings of $40.74 per share (up 25.4% from 2022).Adjusted EBITDA rose 22.1%, but adjusted EBITDA margin contracted 50 bps to 47.8% year over year.Balance SheetUnited Rentals had cash and cash equivalents of $363 million as of Dec 31, 2023, up from $106 million at 2022-end. Total liquidity was $3.33 billion at 2023-end. Long-term debt at the fourth quarter of 2023-end was $10.1 billion, down from $11.21 billion at 2022-end.On Dec 31, 2023, the net leverage ratio was 1.6x compared with 2.0x on Dec 31, 2022. Return on invested capital increased 90 bps year over year to 13.6% for the trailing 12 months ended on Dec 31, 2023.During 2023, cash from operating activities improved 6.1% year over year to $4.704 billion. Free cash flow grew 30.7% year over year to $2.306 billion for the said period.2024 GuidanceTotal revenues are expected to be in the range of $14.65-$15.15 billion. Adjusted EBITDA is projected to be between $6.9 billion and $7.15 billion, indicating an increase from $6.857 billion in 2023.Net rental capital expenditure is projected to be in the range of $1.9-$2.2 billion after gross purchases of $3.4-$3.7 billion versus $1.934 billion after gross purchases of $3.508 billion in 2023.Net cash provided by operating activities is anticipated to be in the range of $4.15-$4.75 billion.Free cash flow (excluding the impact of merger and restructuring-related payments) is expected to be in the range of $2-$2.2 billion versus $2.314 billion in 2023.How Have Estimates Been Moving Since Then?In the past month, investors have witnessed an upward trend in estimates revision.VGM ScoresAt this time, United Rentals has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with an F. However, the stock was allocated a grade of B on the value side, putting it in the top 40% for this investment strategy.Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookEstimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Notably, United Rentals has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportUnited Rentals, Inc. (URI) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Why Is United Rentals (URI) Up 1.1% Since Last Earnings Report?

https://finance.yahoo.com/news/why-united-rentals-uri-1-163026714.html

62fdce8a-86cd-3fb3-9727-fa95e7a42100

URI

What trends should we look for it we want to identify stocks that can multiply in value over the long term? Firstly, we'd want to identify a growing return on capital employed (ROCE) and then alongside that, an ever-increasing base of capital employed. Basically this means that a company has profitable initiatives that it can continue to reinvest in, which is a trait of a compounding machine. So on that note, United Rentals (NYSE:URI) looks quite promising in regards to its trends of return on capital.Return On Capital Employed (ROCE): What Is It?For those who don't know, ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business. The formula for this calculation on United Rentals is:Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)0.18 = US$4.0b ÷ (US$26b - US$3.6b) (Based on the trailing twelve months to December 2023).Thus, United Rentals has an ROCE of 18%. On its own, that's a standard return, however it's much better than the 13% generated by the Trade Distributors industry. Check out our latest analysis for United Rentals roceIn the above chart we have measured United Rentals' prior ROCE against its prior performance, but the future is arguably more important. If you'd like to see what analysts are forecasting going forward, you should check out our free analyst report for United Rentals .What Does the ROCE Trend For United Rentals Tell Us?United Rentals is displaying some positive trends. The numbers show that in the last five years, the returns generated on capital employed have grown considerably to 18%. The amount of capital employed has increased too, by 37%. The increasing returns on a growing amount of capital is common amongst multi-baggers and that's why we're impressed.The Bottom Line On United Rentals' ROCETo sum it up, United Rentals has proven it can reinvest in the business and generate higher returns on that capital employed, which is terrific. And a remarkable 393% total return over the last five years tells us that investors are expecting more good things to come in the future. With that being said, we still think the promising fundamentals mean the company deserves some further due diligence.Story continuesOne more thing to note, we've identified 1 warning sign with United Rentals and understanding this should be part of your investment process.If you want to search for solid companies with great earnings, check out this free list of companies with good balance sheets and impressive returns on equity.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

Returns On Capital Are Showing Encouraging Signs At United Rentals (NYSE:URI)

https://finance.yahoo.com/news/returns-capital-showing-encouraging-signs-110055532.html

1507b80f-ddb5-3003-ba96-cbd29934def2

URI

We think all investors should try to buy and hold high quality multi-year winners. And we've seen some truly amazing gains over the years. For example, the United Rentals, Inc. (NYSE:URI) share price is up a whopping 465% in the last half decade, a handsome return for long term holders. If that doesn't get you thinking about long term investing, we don't know what will. It's also good to see the share price up 37% over the last quarter.While this past week has detracted from the company's five-year return, let's look at the recent trends of the underlying business and see if the gains have been in alignment. Check out our latest analysis for United Rentals To paraphrase Benjamin Graham: Over the short term the market is a voting machine, but over the long term it's a weighing machine. By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time.Over half a decade, United Rentals managed to grow its earnings per share at 22% a year. This EPS growth is lower than the 41% average annual increase in the share price. This suggests that market participants hold the company in higher regard, these days. That's not necessarily surprising considering the five-year track record of earnings growth.The company's earnings per share (over time) is depicted in the image below (click to see the exact numbers).earnings-per-share-growthWe know that United Rentals has improved its bottom line over the last three years, but what does the future have in store? This free interactive report on United Rentals' balance sheet strength is a great place to start, if you want to investigate the stock further.What About Dividends?As well as measuring the share price return, investors should also consider the total shareholder return (TSR). The TSR is a return calculation that accounts for the value of cash dividends (assuming that any dividend received was reinvested) and the calculated value of any discounted capital raisings and spin-offs. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. As it happens, United Rentals' TSR for the last 5 years was 475%, which exceeds the share price return mentioned earlier. And there's no prize for guessing that the dividend payments largely explain the divergence!Story continuesA Different PerspectiveWe're pleased to report that United Rentals shareholders have received a total shareholder return of 60% over one year. That's including the dividend. That gain is better than the annual TSR over five years, which is 42%. Therefore it seems like sentiment around the company has been positive lately. Someone with an optimistic perspective could view the recent improvement in TSR as indicating that the business itself is getting better with time. It's always interesting to track share price performance over the longer term. But to understand United Rentals better, we need to consider many other factors. Take risks, for example - United Rentals has 2 warning signs we think you should be aware of.We will like United Rentals better if we see some big insider buys. While we wait, check out this free list of growing companies with considerable, recent, insider buying.Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on American exchanges.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

United Rentals' (NYSE:URI) five-year total shareholder returns outpace the underlying earnings growth

https://finance.yahoo.com/news/united-rentals-nyse-uri-five-120023521.html

5f8092fd-0134-30a9-a14f-3cfe94764fc9

URI

Craig Pintoff, Executive Vice President and Chief Administrative Officer of United Rentals Inc (NYSE:URI), has sold 2,184 shares of the company on March 11, 2024, according to a recent SEC filing.United Rentals Inc is the largest equipment rental company in the world, with an integrated network of rental locations in North America and Europe. The company offers approximately 4,000 classes of equipment for rent to a diverse customer base that includes construction and industrial companies, utilities, municipalities, and homeowners.Warning! GuruFocus has detected 5 Warning Signs with EVTC.Over the past year, the insider has sold a total of 2,184 shares of United Rentals Inc and has not made any purchases of the stock. The recent transaction is part of a series of sales by the insider, contributing to the total of 6 insider sells over the past year, with no insider buys reported in the same period.Insider Sell: EVP, Chief Administrative Officer Craig Pintoff Sells Shares of United Rentals Inc (URI)On the date of the sale, shares of United Rentals Inc were trading at $659.25, giving the company a market capitalization of $44.635 billion. The price-earnings ratio of the company stood at 18.81, which is above the industry median of 17.83 and also higher than the company's historical median price-earnings ratio.The stock's price of $659.25 compared to the GuruFocus Value of $522.11 indicates that United Rentals Inc has a price-to-GF-Value ratio of 1.26, suggesting that the stock is modestly overvalued.Insider Sell: EVP, Chief Administrative Officer Craig Pintoff Sells Shares of United Rentals Inc (URI)The GF Value is calculated considering historical trading multiples such as price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, along with a GuruFocus adjustment factor based on the company's past returns and growth, and future business performance estimates from Morningstar analysts.The insider's recent sale may provide investors with an insight into the company's valuation and insider sentiment, although it is important to consider a wide range of factors when evaluating the potential future performance of United Rentals Inc's stock.This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.This article first appeared on GuruFocus.

GuruFocus.com

Insider Sell: EVP, Chief Administrative Officer Craig Pintoff Sells Shares of United Rentals ...

https://finance.yahoo.com/news/insider-sell-evp-chief-administrative-041150128.html

38ffe4d1-4bb9-3c66-97fc-982c719042d9

USB

The most recent trading session ended with U.S. Bancorp (USB) standing at $41.35, reflecting a +1.3% shift from the previouse trading day's closing. This change lagged the S&P 500's 2.11% gain on the day. On the other hand, the Dow registered a gain of 1.18%, and the technology-centric Nasdaq increased by 2.96%.Prior to today's trading, shares of the company had lost 3.91% over the past month. This has lagged the Finance sector's gain of 3.61% and the S&P 500's gain of 3.08% in that time.Investors will be eagerly watching for the performance of U.S. Bancorp in its upcoming earnings disclosure. In that report, analysts expect U.S. Bancorp to post earnings of $0.90 per share. This would mark a year-over-year decline of 22.41%. Our most recent consensus estimate is calling for quarterly revenue of $6.72 billion, down 5.87% from the year-ago period.In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.93 per share and a revenue of $27.68 billion, indicating changes of -8.82% and -1.18%, respectively, from the former year.Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for U.S. Bancorp. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.51% lower. U.S. Bancorp is holding a Zacks Rank of #3 (Hold) right now.Story continuesIn terms of valuation, U.S. Bancorp is presently being traded at a Forward P/E ratio of 10.38. For comparison, its industry has an average Forward P/E of 10.53, which means U.S. Bancorp is trading at a discount to the group.We can also see that USB currently has a PEG ratio of 2.08. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. USB's industry had an average PEG ratio of 1.51 as of yesterday's close.The Banks - Major Regional industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 28, positioning it in the top 12% of all 250+ industries.The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.You can find more information on all of these metrics, and much more, on Zacks.com.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportU.S. Bancorp (USB) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

U.S. Bancorp (USB) Gains But Lags Market: What You Should Know

https://finance.yahoo.com/news/u-bancorp-usb-gains-lags-224519572.html

b24d81fd-7000-3ed0-91e0-f4a0bd3b52b7

USB

NORTHAMPTON, MA / ACCESSWIRE / February 26, 2024 / U.S. Bank:Bank donates $100,000 in grant funding to help support Crenshaw District revitalizationOriginally published on U.S. Bank company blogThe ongoing U.S. Bank Black History Month celebration included a block party and ribbon cutting event at the newly renovated Slauson and Crenshaw branch, the first-ever U.S. Bank Black Heritage Community branch, featuring design upgrades that reflect the vibrant cultural heritage of Los Angeles's Crenshaw community.At the event, U.S. Bank welcomed guest speaker Maxine Waters, the U.S. representative for California's 43rd congressional district since 1991, who currently serves as the ranking member of the U.S. House Financial Services Committee.Additionally, U.S. Bank provided $100,000 to two local organizations supporting the bank's years long efforts to make a meaningful impact in revitalizing the Crenshaw District.Destination Crenshaw received a $50,000 grant to support Build Back Crenshaw Workplace Apprentice Program and Local Initiatives Support Corp (LISC) of Los Angeles received a $50,000 grant to support the Black Women Vend - Crenshaw Micro-Enterprise Program.U.S. Bank has been a support of Destination Crenshaw since 2022, when the bank's Impact Finance community development division invested $8.9 million in New Markets Tax Credit allocations in support of the reparative development project that is poised to become the largest public Black art project in the country.Ultimately, the Destination Crenshaw project plans to commission more than 100 temporary and permanent works by Black artists who have strong ties to Los Angeles, with a piece slated to be installed behind the U.S. Bank Slauson and Crenshaw Branch and the branch itself being home to a mural created by, for and featuring local community members.The branch mural The Heart of Hyde Park was created by lead artist Moses Ball and commissioned by L.A. Commons, an organization based in Leimert Park that engages communities in artistic and cultural expressions that tell their unique stories.Story continuesJoining Destination Crenshaw and LISC LA at the block party festivities were local artists and food trucks, including longtime U.S. Bank client Crenshaw Coffee.Event attendees received complimentary branded tote bags featuring airbrush art designs created by local artist Tamika Quillard. Block partiers could use the tote bags as they visited the Food Access Los Angeles Farmer's Market next to the branch.The Black Heritage Community branch is designed to deliver a hyperlocal, culturally relevant experience for diverse customers and create a deeper connection with customers, employees and the community. The branch was designed with space to host free community events, financial health workshops and skills training events, and to provide a storefront for small business pop ups. Customers are offered free financial health resources, expert advice and products. The branch works locally with community leaders.Watch the video above to learn more about the Crenshaw community and the continued commitment of U.S. Bank to power human potential in Los Angeles.View additional multimedia and more ESG storytelling from U.S. Bank on 3blmedia.com.Contact Info:Spokesperson: U.S. BankWebsite: https://www.3blmedia.com/profiles/us-bankEmail: [email protected]: U.S. BankView the original press release on accesswire.com

ACCESSWIRE

First U.S. Bank Black Heritage Community Branch Unveiled in Los Angeles

https://finance.yahoo.com/news/first-u-bank-black-heritage-144000237.html

3edf99b3-e65f-362b-a8eb-b06d15222443

USB

Over the past year, many U.S. Bancorp (NYSE:USB) insiders sold a significant stake in the company which may have piqued investors' interest. When evaluating insider transactions, knowing whether insiders are buying versus if they selling is usually more beneficial, as the latter can be open to many interpretations. However, when multiple insiders sell stock over a specific duration, shareholders should take notice as that could possibly be a red flag.While we would never suggest that investors should base their decisions solely on what the directors of a company have been doing, logic dictates you should pay some attention to whether insiders are buying or selling shares. View our latest analysis for U.S. Bancorp The Last 12 Months Of Insider Transactions At U.S. BancorpIn the last twelve months, the biggest single sale by an insider was when the Chief Administration Officer & Vice Chair, Terrance Dolan, sold US$1.0m worth of shares at a price of US$39.75 per share. So it's clear an insider wanted to take some cash off the table, even below the current price of US$43.26. When an insider sells below the current price, it suggests that they considered that lower price to be fair. That makes us wonder what they think of the (higher) recent valuation. Please do note, however, that sellers may have a variety of reasons for selling, so we don't know for sure what they think of the stock price. We note that the biggest single sale was only 13% of Terrance Dolan's holding.Over the last year, we can see that insiders have bought 78.36k shares worth US$2.5m. But they sold 84.67k shares for US$3.5m. All up, insiders sold more shares in U.S. Bancorp than they bought, over the last year. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. By clicking on the graph below, you can see the precise details of each insider transaction!insider-trading-volumeIf you like to buy stocks that insiders are buying, rather than selling, then you might just love this free list of companies. (Hint: insiders have been buying them).Story continuesInsiders At U.S. Bancorp Have Sold Stock RecentlyThe last three months saw significant insider selling at U.S. Bancorp. In total, insiders dumped US$1.9m worth of shares in that time, and we didn't record any purchases whatsoever. In light of this it's hard to argue that all the insiders think that the shares are a bargain.Does U.S. Bancorp Boast High Insider Ownership?Many investors like to check how much of a company is owned by insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. U.S. Bancorp insiders own about US$161m worth of shares (which is 0.2% of the company). Most shareholders would be happy to see this sort of insider ownership, since it suggests that management incentives are well aligned with other shareholders.So What Does This Data Suggest About U.S. Bancorp Insiders?Insiders sold stock recently, but they haven't been buying. Zooming out, the longer term picture doesn't give us much comfort. While insiders do own a lot of shares in the company (which is good), our analysis of their transactions doesn't make us feel confident about the company. So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. You'd be interested to know, that we found 1 warning sign for U.S. Bancorp and we suggest you have a look.Of course U.S. Bancorp may not be the best stock to buy. So you may wish to see this free collection of high quality companies.For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

U.S. Bancorp Insiders Sell US$3.5m Of Stock, Possibly Signalling Caution

https://finance.yahoo.com/news/u-bancorp-insiders-sell-us-110023389.html

053491e1-ea29-3806-8e4b-a6c39787f40e

USB

U.S. bank is doubling its team of Business Access Advisors in order to serve more citiesNORTHAMPTON, MA / ACCESSWIRE / March 11, 2024 / U.S. BankU.S. Bank Business Access Advisors spend time in the community connecting the bank to others, which is one reason Business Access Advisor Delphine Pruitt, second from right, attended and spoke at the recent grand opening of the bank's first Black Heritage Community branch in Los Angeles's Crenshaw neighborhood.Originally published on U.S. Bank company blogAs a Business Access Advisor at U.S. Bank, Cassandra Kidd's goal is to help underserved small businesses thrive by providing them access to information, connections and other resources.Kidd and other Business Access Advisors don't sell any products but can refer clients to bankers within U.S. Bank or to nonprofits that offer financing. In one recent success story, Kidd helped a Black-owned company that provides information technology services obtain a loan after the owner had struggled to qualify for traditional bank financing.Kidd also introduced the business owner to the bank's Business Diversity Lending (BDL) program, a special purpose credit program that provides credit and financing designed to help minority-, women- and veteran-owned businesses grow and thrive. The business owner met the qualifications and was able to receive additional financing for his company.Such outcomes are the primary goal of the U.S. Bank Business Access Advisor program, which was launched in 2021 with a focus on helping businesses in underserved communities, including communities of color, gain access to capital.The Business Access Advisors, or BAAs, are placed in markets to help business owners gain access to capital, financial education and connections, said Queanne Smith, who leads Business Diverse Segment Strategy for U.S. Bank.The BAAs also maintain and grow referral relationships with Community Development Financial Institutions and non-profit organizations that can assist small business applicants currently unable to get financing directly from the bank.Story continues"Partnering with CDFIs increases access to capital, fosters economic inclusion and expands financial opportunities for underserved communities," Smith said. "U.S. Bank increased the number of CDFI partners in 2023 to 100-plus participating organizations, which allows us to better bridge the finance gap and support community empowerment."The BAA program is part of U.S. Bank Access Commitment®, the bank's long-term approach to help close the wealth gap for underserved communities, including communities of color. U.S. Bank started with nine BAAs serving Charlotte, North Carolina; Chicago; Colorado Springs and Denver, Colorado; Little Rock, Arkansas; Los Angeles; Minneapolis; Omaha, Nebraska; and Oakland, California.Because of its success, U.S. Bank is now expanding the program by doubling the number of BAAs to 18 and expanding the strategy to six new states, Arizona, Nevada, Ohio, Tennessee, Washington and Wisconsin. The bank is also expanding the BAA program in California, hiring three additional BAAs in Los Angeles, Riverside and San Diego, and growing support for business owners in Hispanic communities."We acknowledge and value the Hispanic community and understand how important cultural engagement is to the communities we serve," Smith said. "Our BAAs are placed in markets to better support these communities and build stronger relationships.""We have BAAs who speak Spanish in addition to English and can work with customers in their preferred language," she said. "Our strategy is to break down barriers, including language barriers, that can prevent wealth creation."The BAA program serves small businesses, generally with $500,000 or more in annual revenue, across virtually all industries, Smith said.While helping to provide access to capital is a primary focus of the program, BAAs serve as trusted advisors with business in a variety of ways, she said."Our BAAs are also knowledgeable, helping to educate our clients about financial concepts during one-on-one sessions, seminars and curated workshops," Smith said. "They serve as a strong connector to U.S. Bank supplier diversity programs that can help small businesses become certified as minority-owned businesses, which can support them in building meaningful partnerships, operate in competitive markets and access new opportunities."The BAAs also partner with community organizations to help business owners connect with resources that can help them, she said.For example, the bank has held small business bus tours in Chicago and Los Angeles, visiting Black-owned businesses in underserved communities to discuss challenges entrepreneurs have encountered and ways to partner with U.S. Bank effectively."During 2023, we offered over 160 financial education seminars, and 2,200 coaching sessions with businesses and business owners through our Business Access Advisor program," Smith said."It's all around facilitating inclusive growth for underserved small businesses," she said. "Small businesses are part of the bedrock of the economy."View additional multimedia and more ESG storytelling from U.S. Bank on 3blmedia.com.Contact Info:Spokesperson: U.S. BankWebsite: https://www.3blmedia.com/profiles/us-bankEmail: [email protected]: U.S. BankView the original press release on accesswire.com

ACCESSWIRE

Bank Expanding Program Designed To Help Underserved Small Businesses Grow

https://finance.yahoo.com/news/bank-expanding-program-designed-help-133000518.html

2c7c6415-1e00-3036-a2b2-d6cf3e5a8691

V

On Feb. 19, Capital One (NYSE: COF) announced it would acquire Discover Financial Services (NYSE: DFS) in an all-stock transaction valued at over $35 billion. The move could make Capital One the largest credit card issuer in the U.S. and create greater competition for Visa (NYSE: V) and Mastercard (NYSE: MA), whose stocks fell following the news announcement. Here's what it could mean for investors in those companies.Capital One could become the largest card issuer in the U.S.Capital One provides its customers with various financial and banking services and is the ninth-largest bank in the U.S. The company's bread-and-butter business is issuing branded cards through Visa and Mastercard. It's the fourth-largest card issuer in the U.S., according to The Nilson Report.This deal is turning a lot of heads, and for good reason. Capital One issues debit and credit cards through Mastercard and Visa, with its transactions running through their networks and earning them fees on every swipe. Meanwhile, Capital One holds on to this credit card debt and services these loans. The merger could make Capital One the largest credit card lender in the U.S., pushing it ahead of JPMorgan Chase, which currently holds that title.In addition, it would provide Capital One with Discover's payment networks, including Discover Network, Diners Club, and Pulse debit network, which have struggled to compete with Visa and Mastercard for payment volume. If the deal goes through, Capital One could move its cards to Discover's network and create a closed-loop payment network that better competes with Visa and Mastercard.Image source: Getty Images.This is where things get interesting with regulators. On the one hand, they have expressed concern about Capital One being the largest card issuer in the U.S. On the other hand, those same regulators want more competition from different payment networks to better contend with Visa and Mastercard, who they claim have a duopoly over payment processing.Story continuesAccording to data from The Nilson Report, Visa processed $11.6 trillion in payment volume in 2022, while Mastercard had $6.6 trillion. American Express had $1.5 trillion. In comparison, Discover's networks processed $243 billion, or only 2% of Visa's payment volume.Here's how the deal could affect Visa and MastercardAccording to analysts with Morgan Stanley, Capital One's existing debit card portfolio is primarily Mastercard-branded, where it does about $100 billion in volume annually. In addition, it has about $75 billion in credit card volume between Visa and Mastercard.Those analysts say that if Capital One were to move its volumes over to Discover, it would have a 0.2% effect on Visa and a 2.1% effect on Mastercard's payment volume. Any effect on Visa's or Mastercard's bottom line would likely be negligible.The deal faces intense scrutiny from lawmakersBefore the Capital One-Discover deal can go through, it must face heavy scrutiny from lawmakers and consumer groups. For example, Senator Elizabeth Warren (D-Mass.) said that the merger "threatens our financial stability, reduces competition, and would increase fees and credit costs for American families," and asked regulators to "block it immediately."In addition, Senator Josh Hawley (R-Mo.) said, "This merger will create a new juggernaut in the credit card market, with unprecedented powers to extort American consumers. That cannot be allowed to happen." With opposition from both sides of the aisle, the deal will likely face significant headwinds before any approval.Here's what investors should doThe Capital One-Discover deal would be the fifth-largest bank merger in U.S. history. If it goes through, Visa and Mastercard would certainly feel some effects, although it wouldn't put too big a dent in their earnings. However, the deal has significant hurdles to overcome and its approval could hinge on election results in November, so a decision likely won't be made until later this year or 2025.Investors should continue to monitor this deal. It could create an intriguing investment opportunity in the combined Capital One-Discover company. However, Visa and Mastercard investors shouldn't rush to the exits, as these companies will likely remain dominant players in the payment networks industry.Should you invest $1,000 in Capital One Financial right now?Before you buy stock in Capital One Financial, consider this:The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Capital One Financial wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.Stock Advisor provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month. The Stock Advisor service has more than tripled the return of S&P 500 since 2002*.See the 10 stocks*Stock Advisor returns as of February 20, 2024JPMorgan Chase is an advertising partner of The Ascent, a Motley Fool company. Discover Financial Services is an advertising partner of The Ascent, a Motley Fool company. Courtney Carlsen has positions in Morgan Stanley. The Motley Fool has positions in and recommends JPMorgan Chase, Mastercard, and Visa. The Motley Fool recommends Discover Financial Services and recommends the following options: long January 2025 $370 calls on Mastercard and short January 2025 $380 calls on Mastercard. The Motley Fool has a disclosure policy.What Does the Capital One-Discover Deal Mean for Visa and Mastercard Investors? was originally published by The Motley Fool

Motley Fool

What Does the Capital One-Discover Deal Mean for Visa and Mastercard Investors?

https://finance.yahoo.com/news/does-capital-one-discover-deal-123600710.html

5a8450dd-2760-3002-9a26-c77327dc2b58

V

Kickstarting your investment journey can be both exciting and scary at the same time, and if you're new to investing, you may not know where to even begin. However, one thing is for certain -- stocks set to beat the market over the next 12 months serve as the perfect foundation for any kind of investor.Let's now take a look at one standout stock that could be a perfect fit for your portfolio.Why You Should Pay Attention to Visa (V)Incorporated in 2007 as a Delaware stock corporation and headquartered in San Francisco, CA, Visa Inc. operates as a payments technology company all over the world. The company went public in March 2008 via an initial public offering (IPO). It was founded in 1958. The company has evolved and grown over the course of the last six decadesOn May 30, 2017, V was added to the Zacks Focus List at $94.67 per share. Shares have increased 199.57% to $283.60 since then.For fiscal 2024, nine analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.01 to $9.90. V boasts an average earnings surprise of 4.1%.Additionally, Visa's earnings are expected to grow 12.9% for the current fiscal year.Because stock prices react to revisions, buying stocks with rising earnings estimates can be very profitable. Focus List stocks like V offer investors a great opportunity to get into a company whose future earnings estimates will be raised, potentially leading to price momentum.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportVisa Inc. (V) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Why This 1 Business Services Stock Could Be a Great Addition to Your Portfolio

https://finance.yahoo.com/news/why-1-business-services-stock-143004182.html

2eb152d2-406a-3ce2-8031-c519e2e7d900

V

Investors can look at past stock market winners to find businesses that might continue their trends in the future. For example, Visa (NYSE: V) shares have soared 396% in the last decade, crushing the major indices. And there are plenty of reasons to believe this outperformance can keep going.Is now the right time to buy this top financial stock?Profitable growthThe economic backdrop in the past couple of years isn't what investors or corporate executives are used to. Higher interest rates and inflationary pressures draw everyone's attention. And these factors, coupled with general macro uncertainty, are hurting many businesses today.But Visa continues marching along. In fact, it looks unfazed by external forces that you might assume would hurt the company.The company handled $14.8 trillion of payment volume in fiscal 2023 (ended Sept. 30). That was up 5% year over year, a gain that accelerated to 7.6% in the last three months of last year. This helped drive revenue higher by 9% in Q1 2024 (ended Dec. 31).If we zoom out, we see a story of steady growth. Visa has been able to increase revenue at a compound annual rate of over 9% in the last five fiscal years. The pandemic-laden 2020 was the anomaly, leading to declining sales that year.Otherwise, Visa seems to be able to perform well no matter what the economy is doing. This becomes strikingly clear when you look at the company's impressive profitability. The business reported a ridiculous operating margin of 64.3% last fiscal year. Good luck finding even one enterprise that does better when it comes to that metric.This is a scalable business model, mainly because the technological and communications network that underpins Visa's ability to process payments is already built out. This helps explain why that operating margin is so high.As we look ahead, there is still a sizable expansionary runway for Visa to continue growing its payment volume, revenue, and earnings. The so-called "war on cash" is still going, particularly in emerging economies that don't have the sophisticated payments or financial infrastructure that developed countries do. This trend will keep propelling Visa in the years ahead.Story continuesProtected from disruptionDespite Visa's clear dominance, as demonstrated by its more-than-60% share of all card payment volume in the U.S., bearish investors can quickly point to the rise of various fintech platforms as an obvious reason to be a bit more pessimistic. PayPal and Block, for example, could drive greater levels of activity to their own platforms.But as I mentioned above, consider that Visa has continued its growth trajectory over the past decade, especially in the face of these younger financial services providers. A valid argument can be made that popular digital wallets, which improve the user experience, actually accelerate the use of cashless transactions, spurring higher volume on Visa's network. It's difficult to believe that Visa's competitive standing is ever going to be disrupted. There are 4.3 billion of its branded cards in circulation across the globe. And they are accepted at 130 million merchant locations. No new payments start-up could create a competing network from scratch.The time is nowIn order to add one of the world's truly elite businesses to your portfolio, you'll have to pay what at first appears like an expensive valuation. Shares trade at a forward price-to-earnings ratio of 28.2. That represents a 34% premium to the S&P 500.But given al of the wonderful qualities that Visa possesses from both a competitive and a financial standpoint, the stock still looks like a no-brainer buy right now.Should you invest $1,000 in Visa right now?Before you buy stock in Visa, consider this:The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Visa wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.Stock Advisor provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month. The Stock Advisor service has more than tripled the return of S&P 500 since 2002*.See the 10 stocks*Stock Advisor returns as of March 8, 2024Neil Patel and his clients have no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Block, PayPal, and Visa. The Motley Fool recommends the following options: short March 2024 $67.50 calls on PayPal. The Motley Fool has a disclosure policy.Is Visa Stock a Buy? was originally published by The Motley Fool

Motley Fool

Is Visa Stock a Buy?

https://finance.yahoo.com/news/visa-stock-buy-141700877.html

865dd9bc-f3de-3f14-a16d-ad9f5f10ed26

V

In the latest market close, Visa (V) reached $280.56, with a +0.19% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.11%. On the other hand, the Dow registered a gain of 0.12%, and the technology-centric Nasdaq decreased by 0.41%.The global payments processor's shares have seen an increase of 1.31% over the last month, not keeping up with the Business Services sector's gain of 5.27% and the S&P 500's gain of 2.7%.The investment community will be closely monitoring the performance of Visa in its forthcoming earnings report. The company's upcoming EPS is projected at $2.42, signifying a 15.79% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $8.6 billion, showing a 7.7% escalation compared to the year-ago quarter.In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $9.90 per share and a revenue of $35.7 billion, indicating changes of +12.88% and +9.35%, respectively, from the former year.Any recent changes to analyst estimates for Visa should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.03% lower within the past month. Visa is holding a Zacks Rank of #3 (Hold) right now.Story continuesDigging into valuation, Visa currently has a Forward P/E ratio of 28.28. This valuation marks a premium compared to its industry's average Forward P/E of 13.58.It's also important to note that V currently trades at a PEG ratio of 1.93. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As the market closed yesterday, the Financial Transaction Services industry was having an average PEG ratio of 1.15.The Financial Transaction Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 51, which puts it in the top 21% of all 250+ industries.The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportVisa Inc. (V) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Visa (V) Advances While Market Declines: Some Information for Investors

https://finance.yahoo.com/news/visa-v-advances-while-market-214520089.html

87320ae9-c808-324f-9e32-87326c20bb3e

VFC

It’s been another week with far more retail news than there is time in the day. Below, we break down some things you may have missed during the week, and what we’re still thinking about.From the official launch of Beyoncé’s Cécred brand to Build-A-Bear’s leap year promotion, here’s our closeout for the week.What you may have missedMattel crowns queen of the dollsMattel on Tuesday announced that the company promoted Krista Berger to senior vice president of Barbie and head of dolls.Berger, who has been with Mattel for 15 years, is credited with playing a “pivotal role” in the re-establishment of Barbie as “the #1 global doll property,” according to the company. She most recently served as the vice president of American Girl marketing, partnerships, content development and sales.Berger will report to Chief Brand Officer Lisa McKnight.Beyoncé’s Cécred drops first collectionBeyoncé Knowles-Carter on Tuesday announced new hair care line Cécred. The brand is launching with eight products, dubbed the Foundation Collection, according to a company press release. The artist first announced the brand on Feb. 6 with a post to her Instagram account. Products in the singer’s line include Cécred’s patent-pending Bioactive Keratin Ferment, made from wool-derived keratin, honey and lactobacillus ferment.“My entire life and career, I've worn my hair in so many different ways: natural, flat-ironed, braids, colored, weaves, wigs,” Knowles-Carter said in a statement. “I want everyone to have the freedom to express their hair in ways that make them feel good, so I began by creating the essentials for hair and scalp health. My vision is to be an inclusive force of excellence in the haircare industry while celebrating hair rituals across global cultures and helping dispel hair myths and misconceptions on all sides."Other items that are part of the release include shampoos, conditioner, a hair mask, and a fermented rice and rose protein ritual and range in price from $20 to $52.Story continuesVictoria’s Secret creates first collaborative label with Frankies BikinisVictoria’s Secret Pink and Frankies Bikinis this week announced they have partnered on their first collaborative label, Pink by Frankies Bikinis.The collection features multiple product drops exclusively sold at Victoria’s Secret Pink stores and online. The resulting designs blend Pink’s classic swimwear silhouettes with signature Frankies Bikinis styles, the company said in an email to Retail Dive. The collab also includes apparel like satin mini dresses, lace sets, maxi dresses and loungewear. Prices range from $24.95 to $59.95 and come in sizes XS to XXL.In 2022, Victoria’s Secret took an $18 million dollar minority stake in beachwear brand Frankies Bikinis.Retail therapyKFC combines fried chicken and pizzaJust when you thought things couldn’t get any weirder, KFC is introducing “Chizza” to U.S. menus beginning Monday for a limited time, according to a company press release. Chizza consists of two KFC fried chicken filets topped with marinara sauce, mozzarella and pepperoni. The unlikely food combination was first introduced to the Philippines in 2015.As a part of the release, KFC is hosting a Chizzeria pop-up at its 242 E 14th St. location in New York City on Friday and Saturday where customers can try a free Chizza.Leap into fun four years in the makingBuild-A-Bear Workshop has a deal for you if you’re one of the approximately 200,000 Americans with a leap-year birthday. The retailer is offering an opportunity to pack four years of celebration into one day on Feb. 29 by building a Birthday Treat Bear for $4 at participating stores (the regular price is $14).The limited-time promotion is an extension of the company’s pay-your-age offer under where kids can buy a teddy bear during their birthday month for the cost of the age they are turning, the company said in an announcement.“We understand the rarity of being born on leap day, and we wanted to extend a special gesture for those who celebrate on their special day once every four years," President and CEO Sharon Price John said in an announcement.What we’re still thinking about13%That’s how much of Meati Foods’ workforce is being impacted by layoffs, the company announced earlier this week. The staff cuts follow another round of layoffs from September that impacted 60 roles, or 10% of its workforce.At the same time, the company appointed Phil Graves — who at the start of the month was named Meati’s CFO — as its next CEO.The mycelium meat analog maker has attracted the attention — and investments — of Derek Jeter, Aly Raisman, Chris Paul and Rachael Ray.$2.3 billion That’s how much Walmart plans to spend to acquire smart TV maker Vizio and gain access to its SmartCast operating system. The move is aimed at accelerating Walmart Connect, the mass merchant’s retail media network.The announcement came as Walmart reported fourth-quarter earnings results, which included revenue increasing 5.7% year over year to $173.4 billion.What we’re watchingWhat will VF Corp. look like in a year?VF Corp.’s current portfolio may not last the year. The company earlier this month indicated it would be reviewing its brand assets — and a recent downgrade from S&P Global Ratings suggested a sale of at least one, if not two, of its brands is likely.S&P analysts noted the retailer’s $6 billion debt load and said the apparel conglomerate might have to sell off “sizeable brands” in order to reduce its leverage. The company’s main brands include The North Face, Timberland, Dickies and Vans, all of which posted double-digit declines in the latest quarter. VF also owns streetwear brand Supreme, which it bought for $2.1 billion in 2020.What the apparel conglomerate could sell is less certain, though some analysts have suggested Dickies or Timberland are the most likely.“While this will allow the company to reduce its high debt burden faster, it also reduces its brand diversity and puts more pressure on the remaining underperforming brands to turn around,” S&P said of the potential move.This story was originally published on Retail Dive. To receive daily news and insights, subscribe to our free daily Retail Dive newsletter.

Retail Dive

The Weekly Closeout: Mattel taps new head of dolls and will VF Corp sell one of its biggest brands?

https://finance.yahoo.com/news/weekly-closeout-mattel-taps-head-120600352.html

dae0da57-14d6-3da4-aae7-ca769c776ff3

VFC

After a rocky 2023, some major shoe brands say they are finally turning the corner.In the last few weeks, executives from Wolverine Worldwide, Under Armour and VF Corporation said they are progressing on their respective plans — which were laid out in 2023 — meant to turn around sagging parts of their businesses.More from Footwear NewsNew Balance Posts $6.5B in Annual Sales in 2023Lanvin Group Reports Tepid 2023 Sales, Sees Continued SoftnessHere’s a look at where these three major shoe companies stand on their progress plans— and what analysts say to expect in the short and long term.VF Corporation: An uncertain timelineVF Corp., the parent company to Vans, The North Face, Supreme and more brands, in October laid out a strategic business transformation plan, part of which involves revitalizing the Vans brand with a new president and reviving business in the U.S.In a call with analysts earlier this month, VF chief executive officer Bracken Darrell said that he is “energized by the progress of Vans,” though declined to provide a specific timeline for when the struggling brand would return to growth.In a Feb. 14 note giving the company a “neutral rating,” BTIG analyst Janine Stichter said that while the company seems determined to improve, the timing on broader progress is “still a question mark.”“We agree that much of the underperformance stems from product (an area where Mr. Darrell has historically excelled in reinvigorating) and org structure, and see a path for Vans and The North Face to return to growth,” Stichter said. “However, what remains less certain, by management’s own admission, is the timeline to improvement, especially as long lead times limit the ability to make a significant near-term impact.”Under Armour: Progress in sightUnder Armour CEO Stephanie Linnartz said in a call with investors on Feb. 8 that the company’s strategy to revamp business — which includes growing sales in North America — was progressing. Within footwear, Under Armour is investing in a new design identity that hones in on more casual, lifestyle looks and is looking to partner with more high-end distribution partners to drive demand to this category.Story continuesAccording to Williams Trading analyst Sam Poser, Under Armour’s efforts are beginning to come to fruition in subtle ways.“We are slowly beginning to see small improvements, and expect to continue to see improvements in Under Armour’s product offerings, and better defined allocation and segmentation strategies,” he wrote in a Feb. 8 note. “Those improvements, in our view, will lead to a stronger Under Armour brand, and position the company for a positive and profitable growth inflection in North America.”UBS analyst Jay Sole also had a positive outlook on Under Armour’s transformation potential in a note following the company’s Q3 earnings release in February.“We think the company has taken a number of actions aimed toward revamping product innovation and brand loyalty,” Sole wrote. “We believe Under Armour will start to realize benefits from these strategic moves over the next 12 months.”Wolverine Worldwide: Murky visibilityWolverine Worldwide, which owns the Merrell, Saucony and Sweaty Betty brands, said this week that it finished 2023 with revenue and earnings that were in line with its guidance. Inventory and debt levels were also better than expected, after months of aggressive divestitures and cost cutting measures.CEO and president Chris Hufnagel said in a statement that the company is “effectively executing” its transformation plan with “great pace” and has largely completed the stabilization phase of the turnaround stage. Hufnagel said he expects the company to drive “an inflection of growth in the back half of 2024” which will set the brands up “to accelerate into 2025.”Stifel analyst Jim Duffy said in a Wednesday note that this timeline for growth is “plausible given easing compares, cleaner inventories and a cleaner marketplace, but visibility remains challenging.”“Wolverine remains a show-me story,” Duffy wrote. “We expect upside to shares [to be] limited until visibility to inflection improves.”According to UBS analyst Mauricio Serna, Wolverine will likely be able to turn see strong results with its turnaround plan, “but the evolution of its model will take time.”“Wolverine has a high exposure to the slow-growing wholesale channel,” he said in a Thursday note. “The good news is many of its channels are capable of enduring retail disruption.”Best of Footwear NewsThe Greatest Super Bowl Shoe Commercials of All Time: From Nike's 1993 'Hare Jordan' to Skechers' Snoop Dogg AdSkechers Super Bowl Ads Through the Years: Kim Kardashian, Willie Nelson, Snoop Dogg and MoreNike's Tiger Woods Building: Everything to Know About the Two-Story Conference Center Built in 2001

Footwear News

How Wolverine, Under Armour and VF Are Progressing On Their Turnaround Plans, According to Analysts

https://finance.yahoo.com/news/wolverine-under-armour-vf-progressing-190204651.html

f31f9e05-5e8f-3f2c-9e81-78d8ac052fbe

VFC

Assessing VF Corp's Upcoming Dividend and Historical PerformanceVF Corp (NYSE:VFC) recently announced a dividend of $0.09 per share, payable on 2024-03-20, with the ex-dividend date set for 2024-03-08. As investors look forward to this upcoming payment, the spotlight also shines on the company's dividend history, yield, and growth rates. Using the data from GuruFocus, let's look into VF Corp's dividend performance and assess its sustainability.What Does VF Corp Do?Warning! GuruFocus has detected 8 Warning Signs with VFC.High Yield Dividend Stocks in Gurus' PortfolioThis Powerful Chart Made Peter Lynch 29% A Year For 13 YearsHow to calculate the intrinsic value of a stock?VF Corp designs, produces, and distributes branded apparel, footwear, and accessories. Its apparel categories are active, outdoor, and work. Its portfolio of about a dozen brands includes Vans, The North Face, Timberland, Supreme, and Dickies. VF Corp markets its products in the Americas, Europe, and Asia-Pacific through wholesale sales to retailers, e-commerce, and branded stores owned by the company and partners. The company has grown through multiple acquisitions and traces its roots to 1899.VF Corp's Dividend AnalysisA Glimpse at VF Corp's Dividend HistoryVF Corp has maintained a consistent dividend payment record since 1973. Dividends are currently distributed on a quarterly basis.VF Corp has increased its dividend each year since 1973. The stock is thus listed as a dividend king, an honor that is given to companies that have increased their dividend each year for at least the past 51 years. Below is a chart showing annual Dividends Per Share for tracking historical trends.Breaking Down VF Corp's Dividend Yield and GrowthAs of today, VF Corp currently has a 12-month trailing dividend yield of 6.16% and a 12-month forward dividend yield of 2.23%. This suggests an expectation of decreased dividend payments over the next 12 months.Over the past three years, VF Corp's annual dividend growth rate was -1.60%. Based on VF Corp's dividend yield and five-year growth rate, the 5-year yield on cost of VF Corp stock as of today is approximately 6.16%.Story continuesVF Corp's Dividend AnalysisThe Sustainability Question: Payout Ratio and ProfitabilityTo assess the sustainability of the dividend, one needs to evaluate the company's payout ratio. The dividend payout ratio provides insights into the portion of earnings the company distributes as dividends. A lower ratio suggests that the company retains a significant part of its earnings, thereby ensuring the availability of funds for future growth and unexpected downturns. As of 2023-12-31, VF Corp's dividend payout ratio is 1.02, which may suggest that the company's dividend may not be sustainable.VF Corp's profitability rank, offers an understanding of the company's earnings prowess relative to its peers. GuruFocus ranks VF Corp's profitability 6 out of 10 as of 2023-12-31, suggesting fair profitability. The company has reported net profit in 9 years out of the past 10 years.Growth Metrics: The Future OutlookTo ensure the sustainability of dividends, a company must have robust growth metrics. VF Corp's growth rank of 6 out of 10 suggests that the company has a fair growth outlook.Revenue is the lifeblood of any company, and VF Corp's revenue per share, combined with the 3-year revenue growth rate, indicates a strong revenue model. VF Corp's revenue has increased by approximately 4.50% per year on average, a rate that outperforms approximately 53.7% of global competitors.The company's 3-year EPS growth rate showcases its capability to grow its earnings, a critical component for sustaining dividends in the long run. During the past three years, VF Corp's earnings increased by approximately -9.00% per year on average, a rate that outperforms approximately 27.23% of global competitors.Concluding Thoughts on VF Corp's Dividend OutlookIn conclusion, while VF Corp's long-standing history as a dividend king and its capacity to generate revenue are commendable, the recent negative dividend growth rate and high payout ratio raise concerns about the sustainability of future dividends. The company's profitability and growth metrics provide a mixed outlook, with some strengths in revenue growth but challenges in earnings growth. Value investors may want to closely watch the company's financials in the coming quarters to gauge the potential for consistent dividend payments. For those seeking high-dividend yield stocks, GuruFocus Premium offers the High Dividend Yield Screener as a valuable tool for discovery.This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.This article first appeared on GuruFocus.

GuruFocus.com

VF Corp's Dividend Analysis

https://finance.yahoo.com/news/vf-corps-dividend-analysis-100722967.html

dad66c8e-5f8f-35a7-ae8a-c9b018d17e04

VFC

Diamond Hill Capital, an investment management company, released its “Mid Cap Strategy” fourth-quarter 2023 investor letter. A copy of the same can be downloaded here. During Q4, the markets experienced a sharp rebound, resulting in positive returns in most regions and countries. The portfolio had a better performance than the Russell Midcap Index during the Q4 period, but it underperformed for the entire calendar year. The strategy experienced relative strength in Q4, which was mainly due to the real estate holdings and exposure. These benefited from the declining interest rates environment. Holdings in industrials, financials, and consumer discretionary also added to the performance, as well as the below-benchmark exposure to energy. However, the below-benchmark exposure to technology and above-benchmark exposure to consumer staples detracted from the relative performance. The strategy delivered returns of 13.68% (net of fees) in Q4 and 9.88% (net of fees) for the full year. This compares to the Russell Midcap Index returns of 12.82% and 17.23% for Q4 and the full year, respectively. In addition, you can check the top 5 holdings of the strategy to know its best picks in 2023.Diamond Hill Mid Cap Strategy featured stocks like V.F. Corporation (NYSE:VFC) in the Q4 2023 investor letter. Headquartered in Denver, Colorado, V.F. Corporation (NYSE:VFC) is a branded lifestyle apparel, footwear, and related products company. On March 7, 2024, V.F. Corporation (NYSE:VFC) stock closed at $16.09 per share. One-month return of V.F. Corporation (NYSE:VFC) was 4.58%, and its shares lost 26.54% of their value over the last 52 weeks. V.F. Corporation (NYSE:VFC) has a market capitalization of $6.256 billion.Diamond Hill Mid Cap Strategy stated the following regarding V.F. Corporation (NYSE:VFC) in its fourth quarter 2023 investor letter:"Other bottom contributors in Q4 included Coterra Energy, V.F. Corporation (NYSE:VFC) and Ciena Corporation. Footwear and apparel designer VF Corporation faces headwinds tied to a few of its brands, particularly Vans. Given our limited visibility into whether and when the company will successfully turn its struggling brands around, we exited our position in favor of more compelling opportunities."Story continues5 Best Cities for Modeling in the WorldA model walking down the runway wearing a fashionable and performance-based apparel designed by the company.V.F. Corporation (NYSE:VFC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, V.F. Corporation (NYSE:VFC) was held by 30 hedge fund portfolios, up from 24 in the previous quarter, according to our database.We discussed V.F. Corporation (NYSE:VFC) in another article and shared the list of best clothing stocks to buy. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors. Suggested Articles:15 Worst Performing Stocks in S&P 50020 Easy-to-Start Small Businesses That Could Elevate Your Income15 Best Apple Watch Alternatives in 2024Disclosure: None. This article is originally published at Insider Monkey.

Insider Monkey

V.F. Corporation (VFC) Faced Headwinds from its Brands in Q4

https://finance.yahoo.com/news/v-f-corporation-vfc-faced-114129155.html

3408ce14-1be3-37ca-9cee-e0505e3926d6

VICI

ParticipantsDavid Andrew Kieske; Executive VP, CFO & Treasurer; VICI Properties Inc.Edward Baltazar Pitoniak; CEO & Director; VICI Properties Inc.John W. R. Payne; President & COO; VICI Properties Inc.Samantha Sacks Gallagher; Executive VP, General Counsel & Secretary; VICI Properties Inc.Anthony Paolone; Senior Analyst; JPMorgan Chase & Co, Research DivisionBarry Jonathan Jonas; Gaming Analyst ; Truist Securities, Inc., Research DivisionCaitlin Burrows; Research Analyst; Goldman Sachs Group, Inc., Research DivisionChris Darling; Senior Analyst of Lodging; Green Street Advisors, LLC, Research DivisionDaniel Edward Guglielmo; Research Analyst; Capital One Securities, Inc., Research DivisionGreg Michael McGinniss; Analyst; Scotiabank Global Banking and Markets, Research DivisionJames Hall Kammert; Research Analyst; Evercore ISI Institutional Equities, Research DivisionJay Bradley Kornreich; Analyst; Wedbush Securities Inc., Research DivisionJohn G. DeCree; Director and Head of North America Equity & High Yield Research; CBRE Securities, LLC, Research DivisionNicholas Gregory Joseph; Director & Senior Analyst; Citigroup Inc., Research DivisionRavi Vijay Vaidya; VP; Mizuho Securities USA LLC, Research DivisionWesley Keith Golladay; Senior Research Analyst; Robert W. Baird & Co. Incorporated, Research DivisionPresentationOperatorGood day, ladies and gentlemen. Thank you for standing by. Welcome to the VICI Properties Fourth Quarter and Full Year 2023 Earnings Conference Call. (Operator Instructions) Please note that this conference call is being recorded today, February 23, 2024. I will now turn the call over to Samantha Gallagher, General Counsel with VICI Properties.Samantha Sacks GallagherThank you, operator, and good morning. Everyone should have access to the company's fourth quarter and full year 2023 earnings release and supplemental information. The release and supplemental information can be found in the Investors section of the VICI Properties website at www.viciproperties.com. Some of our comments today will be forward-looking statements within the meaning of the federal securities laws. Forward-looking statements, which are usually identified by the use of words such as will, believe, expect, should, guidance, intends, outlook, projects or other similar phrases are subject to numerous risks and uncertainties that could cause actual results to differ materially from what we expect. Therefore, you should exercise caution in interpreting and relying on them. I refer you to the company's SEC filings for a more detailed discussion of the risks that could impact future operating results and financial condition. During the call, we will discuss certain non-GAAP measures, which we believe can be useful in evaluating the company's operating performance. These measures should not be considered in isolation or as a substitute for our financial results prepared in accordance with GAAP. A reconciliation of these measures to the most directly comparable GAAP measure is available on our website in our fourth quarter and full year 2023 earnings release, our supplemental information and our filings with the SEC. For additional information with respect to non-GAAP measures of certain tenants and or counterparties discussed on this call, please refer to the respective company's public filings with the SEC. Hosting the call today, we have Ed Pitoniak, Chief Executive Officer; John Payne, President and Chief Operating Officer; David Kieske, Chief Financial Officer; Gabe Wasserman, Chief Accounting Officer; and Louie McCluskey, Senior Vice President of Capital Markets. Ed and team will provide some opening remarks, and then we'll open the call to questions. With that, I'll turn the call over to Ed.Story continuesEdward Baltazar PitoniakThank you, Samantha, and good morning, everyone. I'll start this morning with a few words about 2023 VICI accomplishments and the way forward. John Payne will share our 2024 growth approach, and David Kieske will discuss our 2023 financial results and our 2024 guidance. Last night, we announced final 2023 AFFO per share of $2.15, representing year-over-year per share growth of 11.8%. VICI's 2023 AFFO growth will likely make VICI one of the 2023 income growth leaders among the 29 S&P 500 REITs that report AFFO per share. There are 30 S&P 500 REITs overall, representing approximately 90% of the U.S. REIT equity market capitalization at year-end. VICI's 2023 growth is largely the result of work we did in 2022, forging new relationships and new investments in both gaming and [non-gaming] both property acquisitions and property credit investments. I'm proud of our 2023 AFFO per share growth but I'm also proud of what the VICI team did in 2023 to continue to produce growth for 2024 and beyond. Our investment activities in 2023 produced growth in our portfolio quality, geographic diversity, tenant diversity and income. Indeed, when it comes to 2024 income growth, as David will discuss in a moment regarding our 2024 guidance, we expect our projected 2024 AFFO per share growth should put VICI well into the top half of the S&P 500 REIT 2024 AFFO per share growth table. It wasn't easy to produce future growth in 2023. It was tough to navigate in 2023. Most days in 2023 and frankly, most days in 2024 so far, remind me of my days living and working in Whistler, British Columbia, where a very challenging coastal mountain environment could result in days so foggy and whited out that we describe such days as skiing inside a milk bottle. But even amidst this low visibility, the VICI team kept pioneering in 2023. We invested in new geographies, including 3 new countries and through our Bowlero acquisition in U.S. noncommercial gaming states such as Texas, California and North Carolina. We invested in new categories such as family recreation and youth sports. We expanded our partnerships with pilgrimage brands like Cabot and Canyon Ranch. We acquired the primary leasehold interest in New York's incomparable Chelsea Piers through our position as the leading owner of real estate on the Las Vegas Strip. We continue to work with our Las Vegas partners to capitalize on Las Vegas' leadership position in global entertainment and hospitality. I strongly believe VICI's investment in Las Vegas is one of the most compelling investments in the current global commercial real estate investing landscape, period, full stop. As we set out in our earnings release last night, in 2023, we announced and closed $1.8 billion of capital acquisitions and investments within the year. Note that these figures do not include the $2.8 billion closing of our Mandalay Bay MGM Grand joint venture in early January 2023, which we announced in early December 2022, including our assumption of the remaining $1.5 billion of CMBS debt. A fundamental importance our 2023 investing in gaming and nongaming was accretive. Our announced 2023 capital investments were made at a blended initial unlevered investment yield of 7.7%. Our 2023 investing was also balance sheet enhancing. We funded this $1.8 billion of investment with approximately $1.6 billion of cash and equity and only about $200 million of incremental debt. achieving an equity to debt funding ratio on that investment activity of 8:1, demonstrating our commitment to our long-range net leverage target of 5.0 to 5.5x net debt to adjusted EBITDA. As we look ahead within 2024, despite the continued cloudy macroeconomic conditions and outlook we begin 2024 with approximately $1.2 billion of cash and forward equity resources to deploy into continuing accretive growth. Needless to say, the macro environment of constrained capital conditions, we believe our capital resources can and will be attractive to gaming and experiential operators who want to grow and/or need liquidity.Finally, in 2024, we will continue to build a portfolio of quality. You've heard me say before that I believe VICI is the pioneer in bringing Class A real estate to net lease. By Class A, we mean real estate of great scale, great quality and high mission criticality. And VICI enables investors to own Class A real estate within the strong economic transparency and integrity of the net lease model. What we can, must and will do is continue to enable existing and potential VICI investors to understand fully the scale, quality and mission criticality of our Class A real estate. To that end, we are proud to announce that we're launching today the VICI Properties photo book, a digital coffee table style book that brings to life the magnificence of the real estate owned by VICI. You can view this book online at our website, www.viciproperties.com. And I thank Hayes Honea of our team for her great work in producing and publishing this book. I strongly encourage you to give this book a good viewing. If you're a VICI shareholder, I believe the book will give you great pride in what you own. And with that, I'll now turn the call over to John.John W. R. PayneThanks, Ed. Good morning to everyone. In 2023, VICI was able to navigate a volatile broader market backdrop, particularly for REITs and consistently deployed capital in accretive manners throughout the year. Over the course of 2023, we deployed $1.8 billion at a blended yield of approximately 7.7% across investments that expanded our geographic reach domestically and internationally, broadened our investable universe across gaming, hospitality and family entertainment and deepened our ability to invest creatively through property-related credit investments. Our ability to transact successfully last year was due in part to the multiyear effort I've mentioned before on our earnings calls. Every day at VICI, our team shows up for work and focuses on developing and maintaining relationships with best-in-class growth-oriented operators. While some REITs describe themselves simply as a landlord and position themselves to extract value from their tenants. We view ourselves as a long-term capital partner collaborating with our tenants to create value. This philosophy of serving as a capital partner and prioritizing relationships with operators who pursue growth energetically serves as our compass as we assess and underwrite opportunities in the current environment. An environment that is characterized by low visibility and fluctuating cost of capital. To that end, many of you have heard me speak over the years about our focus on growth. And it's also important to understand that there have been numerous situations in which we elect to not pursue opportunities. VICI is in the very fortunate position to have created significant shareholder value over the years. For example, we've grown our AFFO per share at an 8.5% CAGR from 2018 through 2023, while our dividend has grown at a comparable high single-digit rate, and we do not believe we need to pursue growth purely for the sake of growing. For those of you who may be newer to our story, I would like to touch on a few elements of our growth pillars that have allowed us to successfully complete $36 billion of accretive transaction volume in a little over 6 years. Number one, we work collaboratively with operating partners investing in growth opportunities and funding high ROI capital projects in order to achieve mutually beneficial outcomes. Number two, as the only S&P 500 REIT predominantly invested in the gaming industry, given 90% of our rent roll is derived from gaming investments, our team travels far and wide, visiting properties, studying new markets, assessing the landscape and meeting with operators across regional, Las Vegas and even international locations. Number three, we are supplementing our gaming investments with opportunities in experiential sectors that we believe are positioned to benefit from secular tailwinds. We focus on sourcing transactions with operators who position themselves for growth, including through roll-up in an industry, much as you saw with our Cabot and Bowlero transactions announced in October of last year. And finally, number four, we constantly keep our eyes open for opportunities where VICI can get better by getting bigger as demonstrated through the acquisition of MGM Growth Properties in 2022, which significantly expanded our footprint in Las Vegas, added Class A market-leading regional assets to our portfolio, improved our balance sheet to investment-grade and has positioned us for a long-term partnership with MGM Resorts, a world-class gaming, hospitality and leisure operator. As we dive further into 2024, we hold firm with the criteria that has driven much of our track record to date while executing across our strategic pillars. In particular, we are adhering to prudent underwriting standards, ensuring your capital is appropriately compensated as we assess risk and pursue opportunities across different properties, markets and asset classes. And as I said earlier, we maintain a preference for growth-focused operators with our entire team evaluating a partner's track record and importantly, their use of proceeds, which typically explains intentions behind pursuing the transaction. We ultimately believe the right partnerships lead to the right opportunities, which feeds the flywheel of value creation through collaboration. We believe our commitment to developing and deepening relationship with great operators of all shapes and sizes, combined with our strong balance sheet and liquidity position will afford us the ability to continue to executing accretive deals during time when other REITs may be stuck "skiing inside a milk bottle." Now I'll turn the call over to David, who will discuss our financial results and guidance. David?David Andrew KieskeThank you, John. It's great to speak with everyone today, and we appreciate your time. I want to start with our balance sheet. 2023 exemplifies the continued discipline we have maintained of our 6-plus years of existence by ensuring that we allocate capital accretively, have a balance sheet and liquidity profile designed to weather all cycles and provide the safety and protection our equity and credit partners deserve. During the year, we raised over $1.6 billion in forward equity. In January of 2023, we raised approximately $1 billion in gross forward equity proceeds at a $33 price per share. Those proceeds were used throughout the year to accretively fund our transactions. We utilized our ATM program throughout 2023, raising $643 million in gross forward proceeds. That amount includes $390 million, which was raised in Q4 through the sale of 13.2 million shares via the forward and remains outstanding today. And subsequent to year-end, in Q1 2024, we sold 9.7 million shares raising $306 million in gross proceeds under our ATM via the forward. This brings our total outstanding forward equity to just under $700 million, bolstering our overall liquidity. Currently, we have approximately $3.5 billion in total liquidity comprised of $523 million in cash, cash equivalents and short-term investments as of December 31, 2023, $696 million of proceeds under our outstanding forwards and $2.3 billion of availability under the revolving credit facility. In addition, our revolving credit facility has an accordion option, allowing us to request additional lender commitments of up to $1 billion. As we begin 2024, we believe we are extremely well positioned to navigate the current environment and do not need to raise any incremental capital as we sit here today. In terms of leverage, our total debt is currently $17.1 billion. Our net debt to fourth quarter adjusted EBITDA annualized for a full year of activity from our recent acquisitions and excluding the impact of unsettled forward equity is approximately 5.5x within our target leverage range. We have a weighted average interest rate of 4.35%, taking into account our hedge portfolio that we utilized in connection with our April 2022 inaugural investment-grade offering and a weighted average of 5.9 years to maturity. As of December 31, we've entered into a series of forward starting interest rate swap agreements ahead of our May 1 $1.05 billion bond maturity, which has an aggregate notional amount of $500 million. This portfolio has an effective treasury rate of 4.04%. Just touching on the income statement, AFFO per share was $0.55 for the quarter, an increase of 8.8% compared to $0.51 for the quarter ended December 31, 2022. For the full year 2023, AFFO per share was $2.15, an increase of 11.8% compared to $1.93 for the full year 2022 and as Ed mentioned, making VICI one of the leaders across the S&P 500 REITs. Our results once again highlight our highly efficient triple-net model given the increase in adjusted EBITDA as a proportion of the corresponding increase in revenue and our margins continue to run strong in the high 90% range when eliminating noncash items. Our G&A was $15.3 million for the quarter and as a percentage of total revenues was only 1.6%. This continues to be one of the lowest ratios in not only the triple-net sector but across all REITs. Turning to our guidance. And as you saw in our release last night, we are initiating AFFO guidance for 2024 in both absolute dollars as well as on a per share basis. AFFO for the year ending December 31, 2024, is expected to be between $2.32 billion and $2.355 billion or between $2.22 per share and $2.25 per share. Based on the midpoint of our '24 guidance, VICI expects to deliver year-over-year AFFO per share growth of 4%, a very attractive starting point as we begin 2024. And just as a reminder, our guidance does not include the impact on operating results from any announced but unclosed transactions, interest income from any loans that do not yet have final draw structures, possible future acquisitions or dispositions, capital markets activity, or other nonrecurring transaction or items. And as we've mentioned previously, we recorded noncash CECL allowance on a quarterly basis, which due to its inherent unpredictability leaves us unable to forecast net income and FFO with accuracy. Accordingly, our guidance is AFFO focused, as we believe AFFO represents the best way of measuring the productivity of our equity investments and evaluating our financial performance and ability to pay dividends. With that, operator, please open the line for questions.Question and Answer SessionOperator(Operator Instructions) The first question comes from Anthony Paolone with JPMorgan.Anthony PaoloneI guess my first question is just whether or not you could put some dimensions around your deal pipeline right now, either whether it's skewed somewhere geographically, size and maybe yields?Edward Baltazar PitoniakI'll start, Tony, and good to speak with you, and then John and David can kick in. I would say that in the spirit of our opening remarks, we're obviously sober, as you've heard from other REITs in recent weeks like [Agri] and Realty Income. We're sober about the marketplace. We're sober about the capital markets, and we're pretty sober about what kind of activity may be available to us. And yet having said that, John and the team continue to work the trap lines in such a way that we have a number of conversations going on, both in gaming and nongaming that have us very excited and John can talk about that in a moment. The other point I want to emphasize, Tony, is that the magnitude of what we own brings with it opportunities you wouldn't necessarily find in other REITs, given the nature of the property they own. Especially when we look at Las Vegas, where we've got, I think, John, 40-odd thousand hotel rooms. If you look just at an asset like the Venetian, which including parking is 17 million square feet, given what's going on there, given the impact of the Sphere, the opportunity of Patrick and Nicole and team to continue to asset manage, maximize the productivity of that asset is so, so strong. I mean it's the magnitude of building, and again, this goes back to my opening remarks that we are going to continue to help the investment marketplace to understand the magnitude of the building such that there are 300,000 square feet inside the 17 million square feet that have never gone past the concrete stage, concrete floors, concrete walls, concrete ceiling, 300,000 unfinished square feet. And with the job that the team at Venetian is doing, to maximize that asset, especially taking advantage of the Sphere. That represents incremental investment opportunity or growth opportunity for us that you wouldn't likely find in most other REITs generally and certainly not in triple-net lease REITs generally, which tend to have assets of 10,000 square feet, not 17 million square feet. But John, you want to add to this?John W. R. PayneTony, you can hear from Ed's comments, he spent some time in Las Vegas recently, which I have as well. You asked a question about what sectors and I also think what locations. We obviously have been spending a lot of time in Las Vegas. We're very proud of our partners' success there, and it looks like '24 is going to be a great year as well. And as you heard from my remarks, we continue to look at different target sectors, whether in wellness and indoor water parks, pilgrimage, golf, family entertainment center, we made our first investment in youth sports which we like the mixed use of youth sports. So I continue to spend my time with my team and really the whole company looking at a variety of these and checking the boxes of which ones could make for long-term investments. And there are some sectors that we don't talk about that we've kind of checked off the list that says this is not right for our capital at this time. But we shouldn't confuse that the casino business continues to be a real focus of our company and one that we just can't be more proud of the operators and what they've done in '23 and what we see in '24.Anthony PaoloneOkay. And then just I have one kind of detailed follow-up maybe for David, because I was asked this a couple of times overnight. Just in your guidance, like how do you -- just remind us how you're treating like the forward equity and the guidance share count like what goes in there or not?David Andrew KieskeYes. Tony, there's no implied use of proceeds or drawdown. There's a little bit of impact from treasury stock dilution in the ultimate share count, but that's the only impact.Edward Baltazar PitoniakAnother way of putting it, Tony, is we're not assuming any credit or horsepower from the funding, and we're taking actually a marginal penalty by virtue of having it on our -- technically, we don't have it in our balance sheet, but given the treasury stock method.OperatorWe now turn to Barry Jonas with Truist Securities.Barry Jonathan JonasGuys, wanted to start with the Caesars Center call option. Can you maybe just walk through different considerations as you're thinking about exercising it and specifically timing of that?Edward Baltazar PitoniakWell, clearly, Barry, we want to be as opportunistic as we can be within our timing, given the nature -- the inherent nature of a call option. And obviously, that timing will be predicated on what our cost of funding is. And I don't think it would come as any surprise to anybody that we certainly would not choose to exercise our call option if in doing so, we were creating dilution, which we don't ever want to do. And so going back to the theme of skiing inside a milk bottle, the visibility through 2024, given its current state is such that it's hard to predict with any kind of exactitude exactly when the right time would be.Barry Jonathan JonasGot it. Got it. And then, Ed, maybe just more a higher level question. You've done deals with tribes, native American tribes on commercial land before. But I was hoping you could talk more about the puts and takes with doing some type of deal structure in tribal land. There's clear risks there, but it's something banks and debt investors have been able to overcome and I think it's a sizable market with clear financing needs.Edward Baltazar PitoniakYes. I'll start, and I'll turn it over to John, Barry. I read the notes from that recent session you had, which were really interesting to read. And I know one of the participants in your session sounded rather, I won't say bullish, but seemed to say that there may be means to do it. I will tell you with complete candor, we haven't exactly figured out how that would work yet, John, right?John W. R. PayneBut Barry, you touched on -- we've been really excited to build relationships with 3 tribes in the commercial -- in the commercial sector. And it's something that we can continue to talk with them and other travel partners that we've gotten to know to see could there be an opportunity to help them grow on their nation's land, but we have primarily been focused with our partners on the commercial sector, and we'll continue to study that opportunity because as Ed said, we saw the study -- the report that came out as well.OperatorOur next question comes from Caitlin Burrows with Goldman Sachs.Caitlin BurrowsI guess you guys have made it clear that a significant part of your business could be repeat business. So can you talk about maybe the pipeline and if we should see some repeat business in 2024 and/or continue to see new operator partners pop up?John W. R. PayneYes, Caitlin. Very good question you asked. No question that we continue to meet with our 13 partners currently in gaming and nongaming and talk about how our capital can help them grow over the coming years. And as Ed alluded to, the boxes that are in, I shouldn't even call them boxes in Las Vegas. The amazing resorts we owned with partners in Las Vegas could provide with a lot of opportunity in the relatively near future and in the coming years as those partners look to grow, whether that's in hotel rooms, new restaurants, new attractions. Ed mentioned, obviously, the Sphere where that sits on our land, we weren't involved in the building or they're not necessarily our direct tenant. But we see that as a pillar of growth for our company over the coming years, not only in Las Vegas, but in our regional assets because there are large regional assets, whether that's the MGM assets in National Harbor or in Detroit, there are opportunities to grow as well. And then I think your second part of the question is, are we looking to continue to expand our tenant roster? And the answer is absolutely me, my team, Ed, David, Sam, anyone else in the company is out forging new relationships to see if there's new sectors or new companies that we can use our capital to help them grow. So I wouldn't be surprised if you see some new operators or new tenants in our roster over the coming year.Edward Baltazar PitoniakAnd Caitlin, let me just add on to that a little bit. Obviously, there have been questions understandably as to why don't you just -- why don't you just do gaming and only gaming. And as we have emphasized on many, many occasions, we are still for all the time remaining going to be intensely focused on gaming, given what a great business it is within which we own real estate. But one of the real benefits of investing in other experiential categories is, well, first of all, comes with the fact that it's just fundamentally great real estate occupied by operators who offer very rich and profitable experiences to their end customers. So that's the fundamental reason to invest in other experiential. It's fundamentally good real estate. The second dimension to that is that it gives us a test to grow when growth may not be available for gaming? And related to that, and this goes back to your initial question, Caitlin, one of the advantages we see in experiential operators like a Cabot, like a Canyon Ranch like a Bowlero like a Great Wolf, is they have network growth opportunities that are not as readily available to our gaming operators. The nature of growth in new stores and gaming is such that it is always subject to very strict regulatory control. For a Cabot, as an example, on the other hand, they have a global growth opportunity that can be seized with great energy and does not suffer the restrictions or the slowing down of cadence that tends to apply to gaming operators attempting to grow their network other than through M&A.Caitlin BurrowsGot it. No, that makes a lot of sense. And then maybe just back to the pipeline a bit. You guys were active with both sale leasebacks and lending over the past 12 or so months despite a quiet CRE transaction market. And I know you mentioned how you're sober to the current situation, but you guys continue to invest in '23. So I was wondering if you could give some more detail on the pipeline today, maybe size, mix and how that makes you think more specifically, maybe like the first half of 24 activity could end up being or what that could be like?David Andrew KieskeCaitlin, it's David. Great to hear from you. Thanks for joining us today. The nature of our capital is relationship capital and that's where we've been active both as you just mentioned, on the loan side as well as the sale-leaseback side. And it's, as John talked about in his comments, solving our partners' objectives and being a source of growth capital. And sometimes that growth capital comes in the door day 1, like you saw with our Homefield opportunity where they're building facility and going to construct at a very, very, very attractive experiential both sports and hotel assets which will lead to a sale leaseback. So it's -- we're always out talking about ways that we can help our partners grow and to kind of put it in a percentage basket of x amount of loans and x amount of sale leasebacks. That's just not how we look at it or how we kind of parse our pipeline. It's about finding the great partners that we've talked about on this call.OperatorWe now turn to Haendel St. Juste with Mizuho.Ravi Vijay VaidyaThis is Ravi Vaidya in the line for Haendel. I hope you all are doing well. I just noticed that the mezz lending and construction financing is becoming a larger proportion of our capital deployment strategy. How should we think about the sizing of that relative to your broader acquisition pipeline? And how are you underwriting those return requirements and how that's changed over the last 6 to 12 months?David Andrew KieskeRavi, it's David. Good to hear from you. I caught your question, it's how we think about kind of the spread on those mezz loans, especially around development. Look, we always -- there's a couple of ways that we look at it. And it's a little bit more art than science at the end of the day, but what's the cost of the senior -- is our senior lender ahead of us. Are we achieving the right risk-adjusted spread to the senior. Obviously, what's the duration of our capital, what's the funding cadence of our capital. Then ultimately, what most -- every lender looks at, what's the equity sponsor and how much equity is in the transaction and ensuring that we are protected from a credit standpoint at the end of the day, feel good about the project.Edward Baltazar PitoniakAnd then to go back to the first part of your question, it will always be a minor percentage of our assets under management. And we will use it to forge relationships. We have an example, obviously, right in front of us of using lending to establish a relationship with Chelsea Piers that led to the acquisition or the primary leasehold interest in December. So we will use it both as a strategic tool to develop relationships and a strategic tool to create a steadier cadence to our capital allocation. We're very proud of the fact we got capital out the door every single month in 2023. And I can tell you, in our early years, there were whole quarters that went by where we did not get capital out the door given what was true back then, which was that the nature of our capital allocation was big and lumpy tied to big lumpy gaming acquisitions. So it is a tool that can generate growth and return on a very steady basis. It is a strategic tool to forge relationships. And again, given some of the spreads we've been able to achieve in recent years, it is very lucrative, very accretive in driving earnings growth. And again, we're about creating earnings growth that others may not be able to achieve if they're not as energetic and pioneering as we have been, both in terms of how we grow the business in terms of asset classes and through the use of our balance sheet.Ravi Vijay VaidyaGot it. That's very helpful. Just one more here. Can you please discuss the opportunity with the Indiana assets? In your view, how attractive is the [77 Call] in the current market? And how would you theoretically fund something like that?Edward Baltazar PitoniakYes. Well, as I said in response to Barry, obviously, [77] is not as attractive as when it was struck a few years back when the call agreement was struck a few years back. And it will be a call opportunity we will be excited about executing if it's an accretive opportunity, and it is not an accretive opportunity. It's in fact, there would be a dilutive opportunity at 77 , we would not do it.OperatorOur next question comes from Chris Darling with Green Street.Chris DarlingJust going back to the Caesars call options, again, let's just for argument's sake, assume that you do exercise those options. I'm just curious, how would you think about the deal structure from a rent standpoint? So I'm wondering, would you possibly structure tighter rent coverage on a stand-alone basis if it made sense within kind of the larger master lease?Edward Baltazar PitoniakWell, yes, Chris. So the rent coverage by virtue of the current call agreement is set but we -- it is a subject of discussion and one we have and would like to continue to explore with Caesars, such that on an overall basis, they and we are at rent coverages that everybody feels really good about for decades to come.Chris DarlingAll right. Fair enough. One more for you, just touching on the Homefield agreement. Just hoping you can elaborate on the scope of the project, potential future expansion. So I'm wondering what the total estimated investment is for the current development, how the team is thinking about scaling to additional locations over time? And just trying to wrap my arms around what the scope of investment might look like for VICI over time.John W. R. PayneYes, Chris, it's John. When we made the announcement a few months ago, we talked about spending a couple of years studying the youth sports business. And we learned a lot in that process. We've also found an amazing partner in Homefield. We announced our first opportunity with them in the Kansas City area and they're building not only the youth sports facility but connected to a Margaritaville resorts. That's one of the things that I think you'll continue to see is if we place other investments into the youth sports spaces, having numerous cash registers, not just having the fields to rent or the stadiums to rent, but also having connected to 1 operator who controls the restaurants who controls the hotel rooms and controls the sports fields. So this is a $110 million-ish initial investment with Homefield. We've not announced any further development, not only on that site, which does have opportunity to expand over time, but also other sites around the Midwest or the United States. But as with any partner that we've talked about, whether that's with casino partners or with Cabot or Canyon Ranch and now Homefield, we hope that it's not just our only investment with them, and we purposely took so much time to study the business to find the right partner to grow.OperatorWe now turn to Greg McGinniss with Scotiabank.Greg Michael McGinnissSo as we continue to invest in nongaming assets, how should investors get comfortable with more opaque kind of financials there? And what sort of premium are you receiving from an investment yield standpoint as it compares to a potential gaming investment?Edward Baltazar PitoniakYes. So you are right, Greg, if we're if we're partnering with an experiential operator that's not public, the tenant financials are not crystal clear in the same way, they're not crystal clear across a whole lot of net lease portfolios. And at the end of the day, we obviously have to exercise our fiduciary responsibility to the greatest degree possible in ensuring that the fundamental business is very, very supportive of the rent and the way in which our operating partners manage their balance sheets and liquidity is also a strength that ensures that they won't be in positions where they're unable to meet the rent. We've got a very rigorous underwriting practice. We obviously can take advantage of history in many of the categories, experiential categories that we're investing in. And again, at the end of the day, it's up to us to make sure that they are of a strength that's going to enable them to weather whatever should come their way. But I will also emphasize that our key criteria, our first and forth criteria in evaluating all investments gaming and experiential widely is that the businesses be of lower-than-average cyclicality versus consumer discretionary at large, which we think is another risk mitigant when it comes to ensuring that they can cover the rent through thick and thin.Greg Michael McGinnissJust to follow up on that. In the cases where you're providing construction loans -- there's not kind of in-place cash flows to be underwriting or evaluating, what's the process look like there when you're trying to get comfortable in terms of lending that money and the ability to recollect in the case that maybe cash flows don't hit quite the targets that were expected?Edward Baltazar PitoniakWell, last dollar exposure is obviously one of the key criteria and ensuring that our last dollar exposure is at a level whereby if we did end up owning the asset, that the operating economics are such that at the last dollar exposure level that we would be lending at, we're still in good shape.John W. R. PayneYes, Greg, and then it comes down to, as I mentioned, quality of the sponsor, the kind of equity. So overall, loan to cost, loan to value and then the protections that are obviously ultimately documented in our agreements. But a lot of the sectors like our sale-leaseback investments, we study the sectors. Indoor water parks, we studied for 18-odd months led by certain members of our team and went deep into that sector before we did anything. And so it's gaining conviction whether it be through direct real estate ownership or the lending platform that we have of who the operator is, the durability of the sector and then the ultimate protections that we can put in place.Greg Michael McGinnissOkay. And just a final one from me. I'd like to preface this question by acknowledging the great work that John and his team has done so far. And we know that you've added some great members to the investment team as well. But given your sector low G&A, how do you balance that shareholder-friendly expense line versus investing in a larger acquisitions team that could maybe help source and underwrite more investment opportunities?Edward Baltazar PitoniakNo, it's a very strategic question, Greg. And it's a question we regularly wrestle with. I would say one of the ways in which we deal with, if you will, the underinvestment risk in G&A is by, I think, having forged some of the strongest partnership relationships of anybody out there. From day 1, we have treated our advisers as best as we possibly can. This means the investment banks, the other parties, the real estate advisory firms such that we are always the first they call when they think there's a compelling opportunity. They are a force multiplier for us. And we have great respect for them. We engage with them intensely. We reward them when they do great work for us. And in the event we end up saving on G&A, which in an inflationary period has really 2 benefits. Overall, low G&A to begin with and less inflationary impact on our G&A load. If it ever gets to the point where we feel we're shortchanging shareholders by running too thin, we will certainly add resources in the way we've obviously added resources here in the last couple of years.OperatorOur next question comes from Nick Joseph with Citi.Nicholas Gregory JosephI wanted to get your kind of commentary or thoughts on performance thus far (inaudible). It seems like mainstream media has been favorable on it, but there's also good local articles on some management changes there. Just wondering how performance is there?John W. R. PayneNick, I won't necessarily talk about the financial performance, but what I will make a comment about is what a beautiful asset that was built by the team there, the Koch Industries, the Fontainebleau team, the operating team there that I haven't met anyone that walks through the place and says, "Oh, this is a miss." I think most people walk through the place and say, "Wow, what an amazing place." And I think for those of us who have spent time operating in Las Vegas over the years, it takes time. It takes time to build up a database and it takes time, but they sure do have a facility that I think everyone is proud of and we sure are proud of.Edward Baltazar PitoniakAnd Nick, you've given me the opportunity to vent a little bit about how utterly weary I am around the negativity of so much of the media coverage, which regularly gets proven to be way overly negative. Oh my God, The Sphere is going to be a disaster. I was in the U.K. earlier this week. I was struck by how many people wanted to talk about The Sphere because they've either already been or they're determined to go. And again, media coverage around that? Oh my God. "oh, F1 is going to be a disaster." Well, guess what, it wasn't. The drivers love it. The teams loved it. It was an amazing weekend of business for our operating partners. So Super Bowl. again, just a phenomenal event for Las Vegas and for the NFL. So I absolutely agree with you. Some of the press coverage has been quite negative. But we know the people involved. We know how hard they're working. We know how challenging what it is that they've set forth for themselves to open an unaffiliated property on the strip. And yet again, that asset is utterly magnificent and they're doing the right things to bring business to it over time. And with the backing of Koch, you can be sure that the backing is strong enough that they have the patience but more over the firepower to make this work in due course.Nicholas Gregory JosephThat's very helpful. And then just -- I know we've talked a lot on the pipeline and investment opportunities, kind of the more sober environment out there. But if I just think about kind of the stickiness of cap rates, I mean, where are you seeing the most at least pricing power expansion where probably makes a little more sense in today's environment versus I would imagine some others where it's a bit stickier?Edward Baltazar PitoniakAre you talking about cap rate variability across various experiential asset classes?Nicholas Gregory JosephExactly.Edward Baltazar PitoniakYes. I don't know, John and David, I don't know that we've seen a tremendous amount of variability across asset classes. We're obviously not seeing a tremendous amount of trading and yet you obviously saw with our unlevered 7.7% yield for the $1.8 billion we put out the door in 2023 that we have obviously been able to acquire income at higher yields. I would have a tough time generalizing, but David and John, I don't know if you want to add.David Andrew KieskeYes. I would -- think you covered it well, but Nick, I mean, it's no different than any other asset class that you're -- in terms of the broader net lease. You just -- you bid out spreads and buyers, obviously willing -- or sorry, sellers' willingness to transact around -- in a backdrop where there's the volatility and variability that we've talked about. And so there's opportunity out there, but it's a difference in the broader CRE market. It's somewhat of a bit of a quieter environment and just an air of caution -- cautious on both sides until we're going to figure out where the tenure is going, where the broader economy is going.OperatorWe now turn to Jim Kammert with Evercore ISI.James Hall KammertObviously, VICI is going to remain very much a gaming-focused investing in operating company. But you mentioned that you've vetted thoroughly some sort of other verticals, didn't pan out, which is all logical. But could you quantify do you think that your total addressable market or investment opportunity set for new potential verticals continue to expand, just tying to figure out if you're overall catch basin is sort of winnowing or widening?John W. R. PayneYes, it is definitely widening. As there are a few that were saying, hey, we ultimately -- not right for us today. There's other opportunities that come about that we study and learn who the operators are, we learn where their locations are, we spend time with them. So no question, the funnel is getting wider.Edward Baltazar PitoniakYes. And I'll give you an example of that, Jim. When you really begin to know a category, as David has spoken of. As you get to know the -- if you will, the water experience category, which we first invested in through Great Wolf, what's really been remarkable over the last few years is the way in which really creative innovative operators are taking water experiences and continuing to innovate around them, not simply for kids losing their minds and spending their parents' money at Great Wolf, but also water experiences that are more focused on an adult crowd. And that's really exciting to witness because of the growth opportunities it represents within the category and across multiple geographies.James Hall KammertGreat. And one small item. It's been in the press that there is some tax dispute underway at MGM National Harbor. It's obviously an important asset for VICI. But would that -- have any details around that? And would it have any implications for you as a landlord?Edward Baltazar PitoniakYes, that would be a tenant matter, so we wouldn't comment on that.OperatorOur next question comes from Wes Golladay with Baird.Wesley Keith GolladayJust looking at the order book we've been out to everyone, more specifically looking at the Mirage in Las Vegas. Is there anything that's going to go on over the next year on this asset? And if so, what would be the scope and time to build?John W. R. PayneYes. Wes, it's John. It's nice to talk to you. And probably a question for the -- our great partner Hard Rock on timing. But I think they've, as you've probably been following the story, they acquired the operations of the Mirage a little over a year ago from MGM that has been operating, but have also been out getting approvals and designing the opportunity to change the facility from the Mirage to the Hard Rock Las Vegas. As it pertains to timing and budget and construction and that it's probably something that they'll lead that charge. But we, of course, as the owner of the property are excited to watch that asset, get repositioned over time. It's obviously an amazing asset for a long period of time. But I think everyone would think of a Hard Rock Las Vegas would do great on that site.Wesley Keith GolladayAnd then maybe just 1 on the financing front. You do have the $1 billion churn this year. You have the $500 million of swaps. Are you looking at doing an unsecured to take those out? Or maybe a mix of term loans and unsecured, how are you thinking about that?David Andrew KieskeYes, Wes, it's David. We will focus on continuing to access the unsecured market and extend our maturity tenure and increase the overall size of our investment-grade basket, those are legacy MGP high-yield notes. So moving those to unsecured investment grade notes benefits our overall credit complex for the long run.OperatorOur next question comes from Dan Guglielmo with Capital One Securities.Daniel Edward GuglielmoJust thinking about the credit opportunities in experiential. You all have been on the journey for some time now and thinking about the opportunity in the process for closing on the partnerships. What type of competition is in the other [rooms] these days? And high level, how has that changed over the last few years?Edward Baltazar PitoniakAnd Daniel, you're talking about how is the competitive landscape of lending evolved over the last few years?Daniel Edward GuglielmoYes, like the fund, yes.Edward Baltazar PitoniakYes. Well, obviously, we're looking at a period over the last couple of years in which conventional bank financing has definitely diminished as a source of funding for experiential place makers and operators. And at the same time, obviously, you've seen the upsurge of private credit, of which we are part. And I would say that in many cases, we are being invited into the funding opportunity because of our track record in experiential. And the endorsement that our underwriting process brings to a project that we choose to be involved in. We obviously look at them really rigorously. And we, again, I would say we get invited in a lot to processes as opposed to having to scour the landscape and throw our hats in the ring.Daniel Edward GuglielmoGreat. And then you all have such tremendous growth with some pretty big deals over the last few years. And thinking about kind of similar risk-adjusted opportunities, are there areas that you see kind of, I would say, like big hitter opportunities or transactions out there, not just thinking next year, but maybe down -- like the line 5 years from that horizon?John W. R. PayneDan, nice to talk to you this morning. I'll just go back to our assets in Las Vegas, and I don't know how you're describing big hitter, but if there are opportunities for us to continue to invest in assets that we already own and help the operator grow with accretive new projects. I'll consider that being big, big hitting because I'm not sure there's a better place in the world to invest in right now than Las Vegas. Obviously, we've got a portfolio there. but there are some amazing assets Ed referred to, the Venetian that has a lot of footprint to continue to be developed.Edward Baltazar PitoniakAnd I think, John, we can add in, obviously, the MGM property in Yonkers should they be granted a full gaming license. That will obviously -- that's a property we already own, Daniel, that would obviously represent a significant incremental investment opportunity, but contingent, of course, on how the license award process plays out.OperatorWe now turn to Jay Kornreich with Wedbush Securities.Jay Bradley KornreichAs you look to expand the nongaming segment, should we continue to expect loans on the relatively smaller side for you as a way to step into longer-term relationships? Or would you be willing to take kind of a larger bite into either the real estate or debt and then new asset types in a much bigger way, say, over $1 billion?Edward Baltazar PitoniakBoy, that would be a pretty big number, Jay. But the check sizes you're referring to they may look small in relation to our overall scale. But I would tell you, in returns, they're pretty big checks. These are not small assets and they're certainly not small in economic productivity. And so if we can do $50 million to $100 million and up loans on assets that we either have a direct path to ownership on or a potential path to ownership on, you add those up and you can get to $1 billion in aggregate. But obviously, by not having it all in one single investment, we are obviously spreading out our risk and amplifying our opportunities to develop new relationships.Jay Bradley KornreichOkay. I appreciate that. And then just a quick follow-up on, I guess, the leverage. You're now at 5.5x, which is in your 5 to 5.5x range. So should we expect new transactions to be funded I guess, with incrementally more debt capital at this point? Or do you intend to continue to over-equitize new deals and now get that leverage further down?David Andrew KieskeJay, it's David. We will continue to migrate our leverage down. We're obviously within our target range just we kept everybody post MGP, we take leverage up to 5x. And worked very hard to get that back down to 5.5x at the end of last year, so that will continue to drift downwards both from an over-equitization of transactions, and then depending on the size, leverage-neutral transactions.OperatorOur next question comes from John DeCree with CBRE.John G. DeCreeLook, for almost an hour here and I think only 1 mention of F1. So Ed, to kind of go back to your sports triangle, in Las Vegas and you guys have some land, the F1 Paddock. And you talked about this every once in a while, but curious your thoughts on professional sports stadiums, that type of investment and maybe specifically in the context of Las Vegas, given all the development around professional sports that we're seeing there and your land and partners?Edward Baltazar PitoniakYes. I would say, John, it's professional sports, it's obviously the emergence of the Sphere. It's the overall growth of Las Vegas and we obviously have the vacant land. But probably even more valuable is the land we already own. You referred to the triangle formed by A Stadium, T-Mobile and Allegiant. We own everything inside that triangle, MGM operates everything inside that angle. If you think about where the A Stadium is going to go, we own 3 of those 4 corners; in MGM Grand, Excalibur and New York, New York. I know MGM is very excited about the repositioning opportunities at those 4 corners, and it applies to so many of the other assets that we own up and down the strip as well as you say, that vacant land. I just can't, again, emphasize enough how incredibly valuable it is to have the position we have in Las Vegas because Las Vegas is reaching a global critical mass that really no other place on earth right now rivals, not Orlando, not Macau, the way things have evolved there. Las Vegas is a category of one, and we are very happy to be the leading owner of real estate in a place that is a global category of one.John G. DeCreeMaybe just one, lot of people are asking me, is the photo book going to be available in hard copy?Edward Baltazar PitoniakWe actually have printed a few. And if anybody really, really wants one, they should give me a call at their earliest convenience.John G. DeCreeFantastic.Edward Baltazar PitoniakElliot, I think we're probably about wrapped up, right?OperatorYes. This concludes our Q&A. I'll now hand back to Edward Pitoniak CEO for final remarks.Edward Baltazar PitoniakThank you, Elliot, and thanks, everyone, for your time today. And please, please do go at www.viciproperties.com under our portfolio heading to view our brand new VICI Properties Photobook. It's a magnificent book about your magnificent properties. Bye for now.OperatorLadies and gentlemen, today's call has now concluded. We'd like to thank you for your participation. You may now disconnect your lines.

Thomson Reuters StreetEvents

Q4 2023 VICI Properties Inc Earnings Call

https://finance.yahoo.com/news/q4-2023-vici-properties-inc-074535093.html

28bc6edd-9060-3b61-9b28-c24493f1e729

VICI

VICI Properties Inc. (NYSE:VICI) Q4 2023 Earnings Call Transcript February 23, 2024VICI Properties Inc. isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here).Operator: Good day, ladies and gentlemen. Thank you for standing by. Welcome to the VICI Properties Fourth Quarter and Full Year 2023 Earnings Conference Call. At this time, all participants are in listen-only mode. Please note that this conference call is being recorded today, February 23, 2024. I will now turn the call over to Samantha Gallagher, General Counsel with VICI Properties.Samantha Gallagher: Thank you, operator, and good morning. Everyone should have access to the company's fourth quarter and full-year 2023 earnings release and supplemental information. The release and supplemental information can be found in the Investors section of the VICI Properties website at www.viciproperties.com. Some of our comments today will be forward-looking statements within the meaning of the federal securities laws. Forward-looking statements, which are usually identified by the use of words such as will, believe, expect, should, guidance, intends, outlook, projects or other similar phrases are subject to numerous risks and uncertainties that could cause actual results to differ materially from what we expect.Therefore, you should exercise caution in interpreting and relying on them. I refer you to the company's SEC filings for a more detailed discussion of the risks that could impact future operating results and financial condition. During the call, we will discuss certain non-GAAP measures, which we believe can be useful in evaluating the company's operating performance. These measures should not be considered in isolation or as a substitute for our financial results prepared in accordance with GAAP. A reconciliation of these measures to the most directly comparable GAAP measure is available on our website, in our fourth quarter and full-year 2023 earnings release, our supplemental information and our filings with the SEC. For additional information with respect to non-GAAP measures of certain tenants and or counterparties discussed on this call, please refer to the respective company's public filings with the SEC.Story continuesHosting the call today, we have Ed Pitoniak, Chief Executive Officer; John Payne, President and Chief Operating Officer; David Kieske, Chief Financial Officer; Gabe Wasserman, Chief Accounting Officer; and Moira McCloskey, Senior Vice President of Capital Markets. Ed and team will provide some opening remarks, and then we will open the call to questions. With that, I'll turn the call over to, Ed.Edward B. Pitoniak: Thank you, Samantha, and good morning, everyone. I'll start this morning with a few words about 2023 VICI accomplishments and the way forward. John Payne, will share our 2024 growth approach, and David Kieske will discuss our 2023 financial results and our 2024 guidance. Last night, we announced final 2023 AFFO per share of $2.15 representing year-over-year per share growth of 11.8%. VICI's 2023 AFFO growth will likely make VICI one of the 2023 income growth leaders among the 29 S&P 500 REITs that report AFFO per share. There are 30 S&P 500 REITs overall, representing approximately 90% of the U.S. REIT equity market capitalization at year-end. VICI's 2023 growth is largely the result of work we did in 2022, forging new relationships and new investments in both gaming and non-gaming both property acquisitions and property credit investments.I'm proud of our 2023 AFFO per share growth, but I'm also proud of what the VICI team did in 2023 to continue to produce growth for 2024 and beyond. Our investment activities in 2023 produce growth in our portfolio quality, geographic diversity, tenant diversity, and income. Indeed, when it comes to 2024 income growth, as David will discuss in a moment regarding our 2024 guidance, we expect our projected 2024 AFFO per share growth should put VICI well into the top half of the S&P 500 REIT 2024 AFFO per share growth table. It wasn't easy to produce future growth in 2023. It was tough to navigate in 2023. Most days in 2023 and frankly most days in 2024 so far remind me of my days living and working in Whistler, British Columbia, where our very challenging coastal mountain environment could result in days so foggy and whited out that we describe such days as skiing inside a milk bottle.But even amidst this low visibility, the VICI team kept pioneering in 2023. We invested in new geographies, including three new countries, and through our Bowlero acquisition in U.S. non-commercial gaming states such as Texas, California, and North Carolina. We invested in new categories such as family recreation and youth sports. We expanded our partnerships with pilgrimage brands like Cabot and Canyon Ranch. We acquired the primary leasehold interest in New York's incomparable Chelsea Piers. Through our position as the leading owner of real estate on the Las Vegas Strip, we continue to work with our Las Vegas partners to capitalize on Las Vegas' leadership position in global entertainment and hospitality. I strongly believe VICI's investment in Las Vegas is one of the most compelling investments in the current global commercial real estate investing landscape.As we set out in our earnings release last night, in 2023, we announced and closed $1.8 billion of capital acquisitions and investments within the year. Note that these figures do not include the $2.8 billion closing of our Mandalay Bay MGM Grand joint venture in early January 2023, which we announced in early December 2022, including our assumption of the remaining $1.5 billion of CMBS debt. A fundamental importance, our 2023 investing in gaming and non-gaming was accretive. Our announced 2023 capital investments were made at a blended initial unlevered investment yield of 7.7%. Our 2023 investing was also balance sheet enhancing. We funded this $1.8 billion of investment with approximately $1.6 billion of cash and equity and only about $200 million of incremental debt, achieving an equity-to-debt funding ratio on that investment activity of 8:1, demonstrating our commitment to our long range net leverage target of 5.0 times to 5.5 times net debt to adjusted EBITDA.As we look ahead within 2024, despite the continued cloudy macroeconomic conditions and outlook, we begin 2024 with approximately $1.2 billion of cash and forward equity resources to deploy into continuing accretive growth. Needless to say, in a macro environment of constrained capital conditions, we believe our capital resources can and will be attractive to gaming and experiential operators who want to grow and/or need liquidity. Finally, in 2024, we will continue to build a portfolio of quality. You've heard me say before that I believe VICI is the pioneer in bringing Class A real estate to net lease. By Class A, we mean real estate of great scale, great quality and high mission criticality. And VICI enables investors to own Class A real estate within the strong economic transparency and integrity of the net lease model.What we can, must, and will do is continue to enable existing and potential VICI investors to understand fully the scale, quality and mission criticality of our Class A real estate. To that end, we are proud to announce that we're launching today the VICI Properties photo book, a digital coffee table style book that brings to life the magnificence of the real estate owned by VICI. You can view this book online at our website, www.viciproperties.com. And I thank Hayes Honea of our team for her great work in producing and publishing this book. I strongly encourage you to give this book a good viewing. If you're a VICI shareholder, I believe the book will give you great pride in what you own. And with that, I'll now turn the call over to, John.John Payne: Thanks, Ed. Good morning to everyone. In 2023, VICI was able to navigate a volatile broader market backdrop, particularly for REITs and consistently deployed capital in accretive manners throughout the year. Over the course of 2023, we deployed $1.8 billion at a blended yield of approximately 7.7% across investments that expanded our geographic reach domestically and internationally, broadened our investable universe across gaming, hospitality and family entertainment, and deepened our ability to invest creatively through property related credit investments. Our ability to transact successfully last year was due in part to the multi-year effort I've mentioned before on our earnings calls. Every day at VICI, our team shows up for work and focuses on developing and maintaining relationships with best-in-class growth oriented operators, while some REITs describes themselves simply as a landlord and position themselves to extract value from their tenants.A business executive in a sharp suit shaking hands on a real estate deal.We view ourselves as a long-term capital partner collaborating with our tenants to create value. This philosophy of serving as a capital partner and prioritizing relationships with operators who pursue growth energetically serves as our compass as we assess and underwrite opportunities in the current environment, an environment that is characterized by low visibility and fluctuating cost of capital. To that end, many of you have heard me speak over the years about our focus on growth and it's also important to understand that there have been numerous situations in which we elect to not pursue opportunities. VICI is in the very fortunate position to have created significant shareholder value over the years. For example, we've grown our AFFO per share at 8.5% CAGR from 2018 through 2023, while our dividend has grown at a comparable high-single-digit rate and we do not believe we need to pursue growth surely for the sake of growing.For those of you who may be newer to our story, I would like to touch on a few elements of our growth pillars that have allowed us to successfully complete $36 billion of accretive transaction volume in a little over six years. Number 1, we work collaboratively with operating partners investing in growth opportunities and funding high ROI capital projects in order to achieve mutually beneficial outcomes. Number 2, as the only S&P 500 REIT predominantly invested in the gaming industry, given 90% of our rent roll is derived from gaming investments, our team travels far and wide, visiting properties, studying new markets, assessing the landscape and meeting with operators across regional, Las Vegas and even international locations. Number 3, we are supplementing our gaming investments with opportunities in experiential sectors that we believe are positioned to benefit from secular tailwinds.We focus on sourcing transaction with operators who are positioning themselves for growth, including through roll-up in an industry much as you saw with our Cabot and Bowlero transactions announced in October of last year. And finally, number 4, we constantly keep our eyes open for opportunities where VICI can get better by getting bigger as demonstrated through the acquisition of MGM Growth Properties in 2022, which significantly expanded our footprint in Las Vegas, added Class A market leading regional assets to our portfolio, improved our balance sheet to investment grade and has positioned us for a long-term partnership with MGM Resorts, a world class gaming, hospitality, and leisure operator. As we dive further into 2024, we hold firm to the criteria that has driven much of our track record to-date while executing across our strategic pillars.In particular, we are adhering to prudent underwriting standards, ensuring your capital is appropriately compensated as we assess risk and pursue opportunities across different properties, markets and asset classes. And as I said earlier, we maintain a preference for growth focused operators with our entire team evaluating a partner's track record and importantly, their use of proceeds, which typically explains intentions behind pursuing a transaction. We ultimately believe the right partnerships lead to the right opportunities, which feeds the flywheel of value creation through collaboration. We believe our commitment to developing and deepening relationship with great operators of all shapes and sizes combined with our strong balance sheet and liquidity position will afford us the ability to continue executing accretive deals during a time when other REITs may be stuck “skiing inside a milk bottle.” Now, I'll turn the call over to David, who will discuss our financial results and guidance.David?David Kieske: Thank you, John. It's great to speak with everyone today and we appreciate your time. I want to start with our balance sheet. 2023 exemplifies the continued discipline we have maintained over our six plus years of existence by ensuring that we allocate capital accretively, have a balance sheet and liquidity profile designed to weather all cycles and provide the safety and protection our equity and credit partners deserve. During the year, we raised over $1.6 billion in forward equity. In January of 2023, we raised approximately a $1 billion in gross forward equity proceeds at a $33 price per share. Those proceeds were used throughout the year to accretively fund our transactions. We utilized our ATM program throughout 2023 raising $643 million in gross forward proceeds.That amount includes $390 million which was raised in Q4 through the sale of 13.2 million shares via the forward and remains outstanding today. And subsequent to year-end in Q1 2024, we sold 9.7 million shares raising $306 million in gross proceeds under our ATM via the forward. This brings our total outstanding forward equity to just under $700 million bolstering our overall liquidity. Currently, we have approximately $3.5 billion in total liquidity comprised of $523 million in cash, cash equivalents and short-term investments as of December 31, 2023, $696 million of proceeds under our outstanding forwards and $2.3 billion of availability under the revolving credit facility. In addition, our revolving credit facility has an accordion option allowing us to request additional lender commitments of up to $1 billion.As we begin 2024, we believe we're extremely well-positioned to navigate the current environment and do not need to raise any incremental capital as we sit here today. In terms of leverage, our total debt is currently $17.1 billion. Our net debt to fourth quarter adjusted EBITDA annualized for a full-year of activity from our recent acquisitions and excluding the impact of unsettled forward equity is approximately 5.5 times within our target leverage range. We have a weighted average interest rate of 4.35% taking into account our hedge portfolio that we utilized in connection with our April 2022 inaugural investment grade offering in a weighted average 5.9 years to maturity. As of December 31, we've entered into a series of forward starting interest rate swap agreements ahead of our May 1, $1.05 billion bond maturity, which has an aggregate notional amount of $500 million.This portfolio has an effective treasury rate of 4.04%. Just touching on the income statement, AFFO per share was $0.55 for the quarter, an increase of 8.8% compared to $0.51 for the quarter ended December 31, 2022. For the full-year 2023, AFFO per share was $2.15 an increase of 11.8% compared to $1.93 for the full-year 2022, and as Ed mentioned, making VICI one of the leaders across the S&P 500 REITs. Our results once again highlight our highly efficient triple-net model given the increase in adjusted EBITDA as a proportion of the corresponding increase in revenue and our margins continue to run strong in the high 90% range when eliminating non-cash items. Our G&A was $15.3 million for the quarter and as a percentage of total revenues was only 1.6%.This continues to be one of the lowest ratios in not only the triple-net sector but across all REITs. Turning to our guidance. And as you saw in our release last night, we are initiating AFFO guidance for 2024 in both absolute dollars as well as on a per share basis. AFFO for the year ending December 31, 2024 is expected to be between $2.32 billion $2.355 billion or between $2.22 per share $2.25 per share. Based on the midpoint of our 2024 guidance, VICI expects to deliver year-over-year AFFO per share growth of 4%, very attractive starting point as we begin 2024. And just as a reminder, our guidance does not include the impact on operating results from any announced, but unclosed transactions, interest income from any loans that do not yet have final draw structures, possible future acquisitions or dispositions, capital markets activity or other non-recurring transaction or items.And as we've mentioned previously, we record a non-cash CECL allowance on a quarterly basis, which due to its inherent unpredictability leaves us unable to forecast net income and FFO with accuracy. Accordingly, our guidance is AFFO focused as we believe AFFO represents the best way of measuring the productivity of our equity investments in evaluating our financial performance and ability to pay dividends. With that, operator, please open the line for questions.Operator: Thank you. [Operator Instructions] Our first question comes from Anthony Paolon with JPMorgan. Your line is open. Please go ahead.See also Top 20 Languages with the Hardest Grammar for English Speakers and 16 Best Fuel-Efficient Cars for Retirees To Buy in 2024.To continue reading the Q&A session, please click here.

Insider Monkey

VICI Properties Inc. (NYSE:VICI) Q4 2023 Earnings Call Transcript

https://finance.yahoo.com/news/vici-properties-inc-nyse-vici-140859085.html

de44eb38-f5cb-35bc-a9b4-1fd37299e758

VICI

NEW YORK, March 07, 2024--(BUSINESS WIRE)--VICI Properties Inc. (NYSE: VICI) ("VICI Properties") announced today that its Board of Directors has declared a regular quarterly cash dividend of $0.415 per share of common stock for the period from January 1, 2024 to March 31, 2024. The dividend will be payable on April 4, 2024 to stockholders of record as of the close of business on March 21, 2024.About VICI PropertiesVICI Properties Inc. is an S&P 500® experiential real estate investment trust that owns one of the largest portfolios of market-leading gaming, hospitality and entertainment destinations, including Caesars Palace Las Vegas, MGM Grand and the Venetian Resort Las Vegas, three of the most iconic entertainment facilities on the Las Vegas Strip. VICI Properties owns 93 experiential assets across a geographically diverse portfolio consisting of 54 gaming properties and 39 other experiential properties across the United States and Canada. The portfolio is comprised of approximately 127 million square feet and features approximately 60,300 hotel rooms and over 500 restaurants, bars, nightclubs and sportsbooks. Its properties are occupied by industry-leading gaming, leisure and hospitality operators under long-term, triple-net lease agreements. VICI Properties has a growing array of real estate and financing partnerships with leading operators in other experiential sectors, including Bowlero, Cabot, Canyon Ranch, Chelsea Piers, Great Wolf Resorts, Homefield and Kalahari Resorts. VICI Properties also owns four championship golf courses and 33 acres of undeveloped and underdeveloped land adjacent to the Las Vegas Strip. VICI Properties’ goal is to create the highest quality and most productive experiential real estate portfolio through a strategy of partnering with the highest quality experiential place makers and operators. For additional information, please visit www.viciproperties.com.Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of the federal securities laws. You can identify these statements by our use of the words "assumes," "believes," "estimates," "expects," "guidance," "intends," "plans," "projects," "will," and similar expressions that do not relate to historical matters. All statements other than statements of historical fact are forward-looking statements. You should exercise caution in interpreting and relying on forward-looking statements because they involve known and unknown risks, uncertainties, and other factors which are, in some cases, beyond VICI’s control and could materially affect actual results, performance, or achievements. Important risk factors that may affect VICI’s business, results of operations and financial position are detailed from time to time in VICI’s filings with the Securities and Exchange Commission. VICI does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as may be required by applicable law.Story continuesView source version on businesswire.com: https://www.businesswire.com/news/home/20240307321004/en/ContactsInvestor:[email protected] (646) 949-4631OrDavid KieskeEVP, Chief Financial [email protected] Moira McCloskeySVP, Capital [email protected]

Business Wire

VICI Properties Inc. Declares Regular Quarterly Dividend

https://finance.yahoo.com/news/vici-properties-inc-declares-regular-211700060.html

4f71ee0b-9a1a-36c8-9069-cfa18a83ab85

VICI

NEW YORK, March 07, 2024--(BUSINESS WIRE)--VICI Properties Inc. (NYSE: VICI) ("VICI Properties" or the "Company") announced today that its subsidiary, VICI Properties L.P. (the "Issuer"), has priced a public offering of $1.05 billion in aggregate principal amount of senior unsecured notes (the "Notes") consisting of:$550 million aggregate principal amount of 5.750% senior unsecured notes due 2034 (the "2034 Notes"). The 2034 Notes will be issued at 99.186% of par value and will mature on April 1, 2034.$500 million aggregate principal amount of 6.125% senior unsecured notes due 2054 (the "2054 Notes"). The 2054 Notes will be issued at 98.192% of par value and will mature on April 1, 2054.Interest on the 2034 Notes and the 2054 Notes is payable in cash in arrears on April 1 and October 1 of each year, beginning on October 1, 2024. The offering is expected to close on March 18, 2024, subject to the satisfaction of customary closing conditions.The Issuer intends to use the net proceeds from the offering to repay its outstanding (i) $1,024.2 million in aggregate principal amount of the 5.625% senior exchange notes due 2024 and (ii) $25.8 million in aggregate principal amount of the 5.625% senior notes due 2024.Wells Fargo Securities, J.P. Morgan, BofA Securities, Goldman Sachs & Co. LLC, Barclays, BNP PARIBAS, Citigroup, Citizens Capital Markets, Deutsche Bank Securities, Morgan Stanley, Scotiabank and Truist Securities are acting as joint book-running managers for the offering. Capital One Securities, Mizuho and SMBC Nikko are acting as senior co-managers for the offering, and Keybanc Capital Markets and Raymond James are acting as co-managers for the offering.The offering is being made pursuant to an effective shelf registration statement filed by the Company and the Issuer with the Securities and Exchange Commission (the "SEC") and only by means of a prospectus and prospectus supplement. A copy of the prospectus supplement and accompanying prospectus relating to the offering may be obtained from: Wells Fargo Securities, LLC, 608 2nd Avenue South, Suite 1000, Minneapolis, MN 55402, Attn: WFS Customer Service (telephone: (800) 645-3751 or email: [email protected]); J.P. Morgan Securities LLC, 383 Madison Avenue, New York, NY 10179, Attention: Investment Grade Syndicate Desk, 3rd Floor (telephone: (212) 834-4533); BofA Securities, Inc., 201 North Tryon Street, NC1-022-02-25, Charlotte NC 28255-0001, Attn: Prospectus Department (telephone: (800)-294-1322 or email: [email protected]); or Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282 (telephone: (866) 471-2526 or email: [email protected]), or by visiting the EDGAR database on the SEC’s web site at www.sec.gov.Story continuesThis press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.About VICI PropertiesVICI Properties Inc. is an S&P 500® experiential real estate investment trust that owns one of the largest portfolios of market-leading gaming, hospitality and entertainment destinations, including Caesars Palace Las Vegas, MGM Grand and the Venetian Resort Las Vegas, three of the most iconic entertainment facilities on the Las Vegas Strip. VICI Properties owns 93 experiential assets across a geographically diverse portfolio consisting of 54 gaming properties and 39 other experiential properties across the United States and Canada. The portfolio is comprised of approximately 127 million square feet and features approximately 60,300 hotel rooms and over 500 restaurants, bars, nightclubs and sportsbooks. Its properties are occupied by industry-leading gaming, leisure and hospitality operators under long-term, triple-net lease agreements. VICI Properties has a growing array of real estate and financing partnerships with leading operators in other experiential sectors, including Bowlero, Cabot, Canyon Ranch, Chelsea Piers, Great Wolf Resorts, Homefield and Kalahari Resorts. VICI Properties also owns four championship golf courses and 33 acres of undeveloped and underdeveloped land adjacent to the Las Vegas Strip. VICI Properties’ goal is to create the highest quality and most productive experiential real estate portfolio through a strategy of partnering with the highest quality experiential place makers and operators.Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of the federal securities laws. You can identify these statements by our use of the words "assumes," "believes," "estimates," "expects," "guidance," "intends," "plans," "projects," "will," and similar expressions that do not relate to historical matters. All statements other than statements of historical fact are forward-looking statements. You should exercise caution in interpreting and relying on forward-looking statements because they involve known and unknown risks, uncertainties, and other factors which are, in some cases, beyond the Company’s or the Issuer’s control and could materially affect actual results, performance, or achievements. Important risk factors that may affect the Company’s business, results of operations and financial position are detailed from time to time in the Company’s filings with the Securities and Exchange Commission. The Company and the Issuer do not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as may be required by applicable law.View source version on businesswire.com: https://www.businesswire.com/news/home/20240307786296/en/ContactsInvestor: [email protected] (646) 949-4631OrDavid KieskeEVP, Chief Financial [email protected] McCloskeySVP, Capital [email protected]

Business Wire

VICI Properties Announces Pricing of Public Offering of $1.05 Billion of Senior Unsecured Notes

https://finance.yahoo.com/news/vici-properties-announces-pricing-public-212000510.html

5a85d25e-0cb6-3f04-b6a6-73f1dbb764b7

VLO

For years U.S. drivers have been getting a gift at the expense of their northern neighbor—artificially cheap oil. How will it impact the main beneficiaries of that yearslong glut, U.S. refiners that pocketed much of the difference? The U.S. imports about 4 million barrels a day of Canadian crude oil, which represents more than a fifth of the country’s operating refining capacity.Continue reading

The Wall Street Journal

Say Goodbye to Dirt Cheap Canadian Oil

https://finance.yahoo.com/m/bf84d010-c214-3d72-a56d-44c1321e1048/say-goodbye-to-dirt-cheap.html

bf84d010-c214-3d72-a56d-44c1321e1048

VLO

Valero Energy Corp's robust refining and ethanol production capabilities underscore its market strength.Strategic joint ventures and renewable diesel production highlight growth opportunities.Market volatility and environmental regulations present significant challenges.Valero's forward-looking strategies aim to capitalize on low-carbon fuel demand.Warning! GuruFocus has detected 11 Warning Signs with PCG.Valero Energy Corp (NYSE:VLO), a leading independent refiner, has recently filed its 10-K for the fiscal year ended December 31, 2023. With a market capitalization of approximately $41.4 billion as of mid-2023, Valero operates 15 refineries and 12 ethanol plants, boasting a significant throughput capacity. The company's financial health is reflected in its strategic share repurchase programs, indicating a strong balance sheet and investor confidence. The recent filing provides a comprehensive view of Valero's operational strengths, potential growth areas, and the challenges it faces in a dynamic market environment.Decoding Valero Energy Corp (VLO): A Strategic SWOT InsightStrengthsRefining and Production Capabilities: Valero Energy Corp's extensive refining network, with a capacity of 3.2 million barrels per day, positions it as a dominant player in the industry. Its strategic locations across the U.S., Canada, and the U.K. enable efficient distribution and supply chain management. Valero's ethanol production further diversifies its portfolio, with 1.6 billion gallons per year capacity, reinforcing its market presence and providing a hedge against crude oil price volatility.Financial Resilience: Valero's financial acumen is evident in its share repurchase programs, with $2.5 billion authorized in September 2023 and an additional $2.5 billion in February 2024. These buybacks reflect a strong balance sheet and a commitment to delivering shareholder value. The company's ability to maintain liquidity and manage debt effectively, even amidst market fluctuations, underscores its financial stability.Story continuesWeaknessesDependency on Commodity Prices: Valero's profitability is closely tied to the margins between feedstock costs and product prices, which are subject to global supply and demand dynamics. The inherent volatility in crude oil and ethanol markets can lead to unpredictable financial results, posing a challenge to sustained profitability.Regulatory and Environmental Pressures: Compliance with evolving environmental regulations, such as California's SBx 1-2, requires significant investment and can impact operational flexibility. The potential imposition of penalties for exceeding maximum margins or restrictions on maintenance activities could adversely affect Valero's financial performance and necessitate asset impairment considerations.OpportunitiesLow-Carbon Fuel Demand: Valero's joint venture in Diamond Green Diesel positions it to capitalize on the growing demand for renewable diesel. With a production capacity of 1.2 billion gallons per year, the company is well-placed to benefit from regulations and policies driving low-carbon fuel consumption, presenting a significant growth opportunity.Strategic Investments: Valero's investments in logistics assets, such as pipelines and marine transportation, enhance its operational efficiency and provide a competitive edge. The company's ability to optimize its supply chain and access key markets can lead to expanded market share and revenue growth.ThreatsMarket Volatility: The cyclical nature of the energy sector exposes Valero to market volatility. Fluctuations in feedstock prices and product demand can lead to margin pressures, impacting the company's financial performance. Additionally, geopolitical events and OPEC's influence on crude oil prices add layers of unpredictability to Valero's operating environment.Environmental and Legal Risks: Valero faces ongoing legal proceedings and environmental enforcement matters, such as those with the Bay Area Air Quality Management District. These proceedings can result in significant monetary sanctions and reputational damage. Moreover, the company's operations are subject to stringent environmental laws and regulations, which could lead to increased compliance costs and operational constraints.In conclusion, Valero Energy Corp (NYSE:VLO) exhibits a strong operational foundation with significant refining and ethanol production capabilities. Its financial resilience is a testament to its strategic management and shareholder value focus. However, the company must navigate the challenges of commodity price dependency, regulatory pressures, and market volatility. By leveraging opportunities in renewable diesel and strategic investments, Valero can enhance its competitive position and address potential threats. The company's forward-looking strategies, aimed at meeting low-carbon fuel demand, will be crucial in sustaining its market leadership in the evolving energy landscape.This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.This article first appeared on GuruFocus.

GuruFocus.com

Decoding Valero Energy Corp (VLO): A Strategic SWOT Insight

https://finance.yahoo.com/news/decoding-valero-energy-corp-vlo-050250167.html

68cbf5e3-8edf-3f6a-8d6d-c9564b25dd56

VLO

(Bloomberg) -- US fuel refiner Valero Energy Corp. is joining a massive carbon-capture and storage project in the heart of US corn country, lending support to a proposed pipeline plan that faces major hurdles.Most Read from BloombergSupreme Court Rules Trump Can Appear on Presidential BallotsWall Street’s DEI Retreat Has Officially BegunChina Scraps Premier Li's Briefing, Breaking Years of ConventionAmerica Blew Almost $2 Trillion. Make It Stop.What to Remember If the Stock Market Takes a DiveThe company, one of the country’s largest gasoline producers and its No. 2 corn ethanol maker by market share, has agreed to transport greenhouse-gas pollution from eight of its facilities on Summit Carbon Solutions LLC’s proposed $8 billion pipeline, according to Summit. The agreement comes after Poet LLC, the world’s largest producer of the biofuel, signed onto the project earlier this year.Summit said the addition of Valero means more than half the US corn ethanol industry will be part of the multi-state pipeline project, encompassing a total of 57 plants across the upper Midwest.“That reflects how important it is,” said Bruce Rastetter, founder of Summit Agricultural Group, which formed Iowa-based Summit Carbon in 2021. “The opportunity is to add better markets domestically and then ship that value-added product worldwide to countries that are demanding more sustainability.”Supporters say the pipeline is critical to help the agriculture industry shrink its carbon footprint and profit from new markets for renewable liquid fuels — such as sustainable aviation fuel — at a time when electric cars are threatening the future of corn ethanol.Read More: Fate of US Corn Farmers Hinges on Future of Green Air TravelBoth Poet and Valero had been part of a rival project that was abandoned late last year after running up against regulatory hurdles and opposition from some farmers. Summit faces similar obstacles and has said it’s learned from earlier mistakes to communicate better with landowners whose property is along the proposed route of roughly 2,500 miles.Story continuesRead More: BlackRock-Backed Navigator Scraps US Corn Belt CO2 Pipe PlanSummit is proposing to build the pipeline through five states — Iowa, Minnesota, Nebraska, South Dakota and North Dakota — and carry 18.5 million metric tons of carbon dioxide a year.Valero didn’t respond to a request for a comment.Most Read from Bloomberg BusinessweekHumanoid Robots at Amazon Provide Glimpse of an Automated WorkplacePrivate Equity’s Green Star Started It All With a DatabaseThe Monaco Royals Whose Deals Have Brought Peril to the Palace DoorsChocolate Makers Try a New Recipe: Less ChocolateTop Takeaways From Businessweek’s Investigation Into Monaco’s Royal Family©2024 Bloomberg L.P.

Bloomberg

Ethanol Maker Valero to Join $8 Billion Carbon Pipeline Project

https://finance.yahoo.com/news/ethanol-maker-valero-join-8-110000585.html

fb4eca34-43f5-3d44-bbbe-0d911c30940b

VLO

In the latest trading session, Valero Energy (VLO) closed at $149.53, marking a +0.34% move from the previous day. This change outpaced the S&P 500's 0.65% loss on the day. On the other hand, the Dow registered a loss of 0.18%, and the technology-centric Nasdaq decreased by 1.16%.The oil refiner's stock has climbed by 5.1% in the past month, exceeding the Oils-Energy sector's gain of 4.75% and the S&P 500's gain of 3.4%.Market participants will be closely following the financial results of Valero Energy in its upcoming release. In that report, analysts expect Valero Energy to post earnings of $2.87 per share. This would mark a year-over-year decline of 65.3%. At the same time, our most recent consensus estimate is projecting a revenue of $31.96 billion, reflecting a 12.28% fall from the equivalent quarter last year.Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $15.11 per share and revenue of $133.46 billion. These totals would mark changes of -39.32% and -7.81%, respectively, from last year.Investors might also notice recent changes to analyst estimates for Valero Energy. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 4.1% higher. Valero Energy is holding a Zacks Rank of #3 (Hold) right now.Story continuesInvestors should also note Valero Energy's current valuation metrics, including its Forward P/E ratio of 9.87. For comparison, its industry has an average Forward P/E of 11.93, which means Valero Energy is trading at a discount to the group.Investors should also note that VLO has a PEG ratio of 1.64 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Oil and Gas - Refining and Marketing industry had an average PEG ratio of 1.77.The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 153, positioning it in the bottom 40% of all 250+ industries.The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.To follow VLO in the coming trading sessions, be sure to utilize Zacks.com.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportValero Energy Corporation (VLO) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Valero Energy (VLO) Ascends While Market Falls: Some Facts to Note

https://finance.yahoo.com/news/valero-energy-vlo-ascends-while-224521519.html

7acf952b-bfa7-3778-bf63-cf63032cd0de

VLTO

WALTHAM, Mass., Feb. 15, 2024 /PRNewswire/ -- Veralto (NYSE: VLTO), a global leader in essential water and product quality solutions dedicated to Safeguarding the World's Most Vital Resources™, announced today that it will participate in the Citi Global Industrial Tech and Mobility Conference on Tuesday, February 20, 2024 and the Barclays Industrial Select Conference on Wednesday, February 21, 2024.Veralto Logo (PRNewsfoto/Veralto)Senior Vice President and Chief Financial Officer, Sameer Ralhan will be presenting at the Citi Global Industrial Tech and Mobility Conference on Tuesday, February 20th, 2024 at 7:10 am ET.  The audio will be simultaneously webcast and will be archived in the investor section on www.veralto.com.ABOUT VERALTOWith annual sales of $5 billion, Veralto is a global leader in essential technology solutions with a proven track record of solving some of the most complex challenges we face as a society. Our industry-leading companies with globally recognized brands are building on a long-established legacy of innovation and customer trust to create a safer, cleaner, more vibrant future. Headquartered in Waltham, Massachusetts, our global team of 16,000 associates is committed to making an enduring positive impact on our world and united by a powerful purpose: Safeguarding the World's Most Vital Resources™.CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/veralto-to-participate-at-upcoming-investor-conferences-302062699.htmlSOURCE Veralto

PR Newswire

Veralto to Participate at Upcoming Investor Conferences

https://finance.yahoo.com/news/veralto-participate-upcoming-investor-conferences-141500399.html

8a81f6a5-cb7b-38c5-96c6-208f19d3d3bf

VLTO

Investors interested in Technology Services stocks are likely familiar with Vontier Corporation (VNT) and Veralto (VLTO). But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The proven Zacks Rank puts an emphasis on earnings estimates and estimate revisions, while our Style Scores work to identify stocks with specific traits.Right now, both Vontier Corporation and Veralto are sporting a Zacks Rank of # 2 (Buy). The Zacks Rank favors stocks that have recently seen positive revisions to their earnings estimates, so investors should rest assured that both of these companies have improving earnings outlooks. But this is just one piece of the puzzle for value investors.Value investors analyze a variety of traditional, tried-and-true metrics to help find companies that they believe are undervalued at their current share price levels.Our Value category grades stocks based on a number of key metrics, including the tried-and-true P/E ratio, the P/S ratio, earnings yield, and cash flow per share, as well as a variety of other fundamentals that value investors frequently use.VNT currently has a forward P/E ratio of 11.60, while VLTO has a forward P/E of 25.82. We also note that VNT has a PEG ratio of 2.07. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. VLTO currently has a PEG ratio of 4.65.Another notable valuation metric for VNT is its P/B ratio of 7.35. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. For comparison, VLTO has a P/B of 14.94.These are just a few of the metrics contributing to VNT's Value grade of B and VLTO's Value grade of C.Story continuesBoth VNT and VLTO are impressive stocks with solid earnings outlooks, but based on these valuation figures, we feel that VNT is the superior value option right now.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportVontier Corporation (VNT) : Free Stock Analysis ReportVeralto Corporation (VLTO) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

VNT or VLTO: Which Is the Better Value Stock Right Now?

https://finance.yahoo.com/news/vnt-vlto-better-value-stock-164010040.html

b8ac28c8-9c9d-3c9c-96b2-562d8ec50668

VLTO

WALTHAM, Mass., March 8, 2024 /PRNewswire/ -- Veralto (NYSE: VLTO), a global leader in essential water and product quality solutions dedicated to Safeguarding the World's Most Vital Resources™, announced today that its board of directors has approved a quarterly cash dividend of $0.09 per share of its common stock, payable on April 30, 2024 to holders of record as of the close of business on March 28, 2024.Veralto Logo (PRNewsfoto/Veralto)About VeraltoWith annual sales of $5 billion, Veralto is a global leader in essential technology solutions with a proven track record of solving some of the most complex challenges we face as a society. Our industry-leading companies with globally recognized brands are building on a long-established legacy of innovation and customer trust to create a safer, cleaner, more vibrant future. Headquartered in Waltham, Massachusetts, our global team of 16,000 associates is committed to making an enduring positive impact on our world and united by a powerful purpose: Safeguarding the World's Most Vital Resources™.CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/veralto-announces-quarterly-dividend-302083165.htmlSOURCE Veralto

PR Newswire

Veralto Announces Quarterly Dividend

https://finance.yahoo.com/news/veralto-announces-quarterly-dividend-130000147.html

3b803033-a6d5-3c94-a311-fbe934ed5d7a

VMC

The Construction group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Toll Brothers (TOL) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? A quick glance at the company's year-to-date performance in comparison to the rest of the Construction sector should help us answer this question.Toll Brothers is one of 98 individual stocks in the Construction sector. Collectively, these companies sit at #2 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Toll Brothers is currently sporting a Zacks Rank of #2 (Buy).Within the past quarter, the Zacks Consensus Estimate for TOL's full-year earnings has moved 11.8% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.Our latest available data shows that TOL has returned about 6.9% since the start of the calendar year. At the same time, Construction stocks have gained an average of 5.2%. This means that Toll Brothers is performing better than its sector in terms of year-to-date returns.Another stock in the Construction sector, Vulcan Materials (VMC), has outperformed the sector so far this year. The stock's year-to-date return is 13.2%.For Vulcan Materials, the consensus EPS estimate for the current year has increased 3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).Looking more specifically, Toll Brothers belongs to the Building Products - Home Builders industry, which includes 17 individual stocks and currently sits at #15 in the Zacks Industry Rank. On average, this group has gained an average of 1.7% so far this year, meaning that TOL is performing better in terms of year-to-date returns.Story continuesOn the other hand, Vulcan Materials belongs to the Building Products - Concrete and Aggregates industry. This 9-stock industry is currently ranked #60. The industry has moved +11.2% year to date.Investors with an interest in Construction stocks should continue to track Toll Brothers and Vulcan Materials. These stocks will be looking to continue their solid performance.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportToll Brothers Inc. (TOL) : Free Stock Analysis ReportVulcan Materials Company (VMC) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Has Toll Brothers (TOL) Outpaced Other Construction Stocks This Year?

https://finance.yahoo.com/news/toll-brothers-tol-outpaced-other-144012882.html

2549fd9f-74ba-3c67-b29d-437cd7533efd

VMC

Investors might want to bet on Vulcan Materials (VMC), as it has been recently upgraded to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.Since a changing earnings picture is a powerful factor influencing near-term stock price movements, the Zacks rating system is very useful for individual investors. They may find it difficult to make decisions based on rating upgrades by Wall Street analysts, as these are mostly driven by subjective factors that are hard to see and measure in real time.Therefore, the Zacks rating upgrade for Vulcan basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price.Most Powerful Force Impacting Stock PricesThe change in a company's future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. That's partly because of the influence of institutional investors that use earnings and earnings estimates for calculating the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their bulk investment action then leads to price movement for the stock.Fundamentally speaking, rising earnings estimates and the consequent rating upgrade for Vulcan imply an improvement in the company's underlying business. Investors should show their appreciation for this improving business trend by pushing the stock higher.Harnessing the Power of Earnings Estimate RevisionsAs empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.Story continuesThe Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>>.Earnings Estimate Revisions for VulcanFor the fiscal year ending December 2024, this construction materials company is expected to earn $8.26 per share, which is a change of 18% from the year-ago reported number.Analysts have been steadily raising their estimates for Vulcan. Over the past three months, the Zacks Consensus Estimate for the company has increased 3%.Bottom LineUnlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of 'buy' and 'sell' ratings for its entire universe of more than 4000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a 'Strong Buy' rating and the next 15% get a 'Buy' rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.You can learn more about the Zacks Rank here >>>The upgrade of Vulcan to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportVulcan Materials Company (VMC) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

What Makes Vulcan (VMC) a New Buy Stock

https://finance.yahoo.com/news/makes-vulcan-vmc-buy-stock-170010289.html

89d3e79e-250c-3fbe-aff5-202974f5102f

VMC

How much a stock's price changes over time is important for most investors, since price performance can both impact your investment portfolio and help you compare investment results across sectors and industries.Another thing that can drive investing is the fear of missing out, or FOMO. This particularly applies to tech giants and popular consumer-facing stocks.What if you'd invested in Vulcan Materials (VMC) ten years ago? It may not have been easy to hold on to VMC for all that time, but if you did, how much would your investment be worth today?Vulcan Materials' Business In-DepthWith that in mind, let's take a look at Vulcan Materials' main business drivers.Based in Birmingham, AL, Vulcan Materials Company is engaged in the production, distribution and sale of construction aggregates and other construction materials in the U.S. and Mexico. As of Dec 31, 2023, it had 404 active aggregates facilities, 71 asphalt facilities, 142 concrete facilities and one calcium facility.The company has four operating segments going by the principal product lines: Aggregates, Concrete, Asphalt mix and Calcium.Aggregates (69.1% of 2023 total revenues): The segment produces and sells aggregates like crushed stone, sand and gravel and other aggregates. The segment mainly focuses on the U.S. markets. The end uses of Vulcan’s aggregates include public construction (such as highways, walkways, airport runways, parking lots and railroads) as well as private residential (single-family houses, duplexes, apartment buildings and condominiums) and private non-residential (manufacturing, retail, offices, industrial and institutional) construction. Aggregates inter-segment sales accounted for 6.8% of its total revenues.Asphalt Mix (14.7%): The Asphalt Mix segment produces and sells asphalt mix in Alabama, Arizona, California, New Mexico, Tennessee and Texas. Aggregates are a significant component in the asphalt mix, comprising approximately 95% of the weight of this product.Story continuesConcrete (16.1%): The Concrete segment deals with the production and sale of ready-mix concrete in California, Maryland, New Jersey, New York, Oklahoma, Pennsylvania, Texas, Virginia, the U.S. Virgin Islands, and Washington DC. This segment functions as a customer of the Aggregates segment, as aggregates are a major component in ready-mix concrete (comprising nearly 80% of the weight of this product).Calcium (0.1%): The Calcium segment is composed of a single operation in Brooksville, FL. This facility produces calcium products for the animal feed, plastics and water treatment industries with high-quality calcium carbonate material mined at the Brooksville quarry.Bottom LinePutting together a successful investment portfolio takes a combination of research, patience, and a little bit of risk. For Vulcan Materials, if you bought shares a decade ago, you're likely feeling really good about your investment today.According to our calculations, a $1000 investment made in March 2014 would be worth $3,873.64, or a gain of 287.36%, as of March 11, 2024, and this return excludes dividends but includes price increases.In comparison, the S&P 500 gained 172.82% and the price of gold went up 55.27% over the same time frame.Analysts are forecasting more upside for VMC too.Vulcan reported strong results in fourth-quarter 2023, with earnings and revenues surpassing the respective Zacks Consensus Estimate by 7.4% and 0.5%, respectively. Both metrics increased on a year-over-year basis. Consistent strategic execution, the strong performance of the aggregate-led business, and large industrial project demand drove the performance. The company observed modest growth in the public sector during the second half of 2023. It expects demand to accelerate in 2024, with trailing 12-month highway starts surpassing $100 billion and record-level 2024 state budgets. Shares of Vulcan have outperformed its industry in the past six months. Earnings estimates for 2024 have increased in the past 30 days, depicting analysts’ optimism. However, low residential demand and uncertain energy costs are a concern.Over the past four weeks, shares have rallied 11.13%, and there have been 7 higher earnings estimate revisions in the past two months for fiscal 2024 compared to none lower. The consensus estimate has moved up as well.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportVulcan Materials Company (VMC) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

If You Invested $1000 in Vulcan Materials a Decade Ago, This is How Much It'd Be Worth Now

https://finance.yahoo.com/news/invested-1000-vulcan-materials-decade-123004422.html

8fe71217-7a8e-3c52-8410-a77c9ea7e9e9

VMC

Monday, March 10, 2024The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Exxon Mobil Corporation (XOM), PepsiCo, Inc. (PEP) and HSBC Holdings plc (HSBC). These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.You can see all of today’s research reports here >>>Exxon Mobil shares have outperformed the Zacks Oil and Gas - Integrated - International industry over the past year (+5.4% vs. +4.9%). The company being a reliable player in the energy sector, boasts a resilient integrated capital structure and a track record of prudent CAPEX management. Its strategic discoveries in the Stabroek Block and Permian Basin promise growth and lower greenhouse gas intensity.With a robust balance sheet, ExxonMobil prioritizes shareholder returns, evidenced by substantial buybacks and a strategic acquisition of Pioneer Natural Resources. XOM reported better-than-expected quarterly earnings due to increased liquids production.However, challenges loom, notably in upstream operations susceptible to volatile oil prices and regulatory hurdles like the $2B impairment in California. While committed to shareholders, XOM faces scrutiny for lagging industry peers in dividend yield and enduring financial strain from low-return investments and pandemic impacts.(You can read the full research report on Exxon Mobil here >>>)Shares of PepsiCo have underperformed the Zacks Beverages - Soft drinks industry over the past year (-2.1% vs. +7.4%). The company banks on strength and resilience in its categories, diversified portfolio, modernized supply chain, improved digital capabilities, flexible go-to-market distribution systems and robust consumer demand trends.These factors along with robust pricing aided PepsiCo’s earnings and organic revenues fourth-quarter 2023. The company witnessed organic revenue growth across the global beverage and convenient food businesses. Additionally, the company’s productivity and cost-management initiatives bode well. For 2024, PEP expects to deliver organic revenues revenue growth of at least 4%.However, PepsiCo witnessed soft volume trends across both businesses, which impacted reported revenues in the fourth quarter. Adverse currency rates also remain headwinds.(You can read the full research report on PepsiCo here >>>)Shares of HSBC have gained +16.0% over the past year against the Zacks Banks - Foreign industry’s gain of +27.7%. The company’s strong capital position, higher interest rates, an extensive network and business restructuring initiatives will keep supporting HSBC. The company is winding down its retail operations in Canada and is in the process of fully exiting Russia (gets Russia unit sale approval).In order to focus more on Asia, the company is set to acquire Citigroup’s wealth business in China. However, HSBC’s fourth-quarter 2023 results were hurt by lower revenues. While its efforts to improve market share in the Asia region will aid financials in the long run, it might lead to a rise in near-term costs.Because of its growth strategy and higher technology-related expenses, HSBC expects 2024 expense growth of 5%. The current tough macroeconomic backdrop is another near-term headwind.(You can read the full research report on HSBC here >>>)Other noteworthy reports we are featuring today include Cadence Design Systems, Inc. (CDNS), CrowdStrike Holdings, Inc. (CRWD) and Vulcan Materials Company (VMC).Director of ResearchSheraz MianNote: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Preview reports. If you want an email notification each time Sheraz publishes a new article, please click here>>>Story continuesToday's Must ReadExxonMobil (XOM) Banks on Resilient Capital StructurePepsiCo's (PEP) Investments in Business Drive the Top LineRestructuring to Aid HSBC Holdings (HSBC) Amid Cost WoesFeatured ReportsCadence (CDNS) Benefits from Diversified Product PortfolioPer the Zacks analyst, Cadence's performance is gaining from solid demand for the company's diversified product portfolio. Frequent product launches and strategic collaborations are tailwinds.CrowdStrike (CRWD) Rides on Product Strength, AcquisitionsPer the Zacks analyst, CrowdStrike is gaining from solid contributions of its growth-oriented products, primarily Falcon platform. Also, strategic buyouts like Bionic and Reposify are positive.Strategic Tie-Ups Aid Global Payments (GPN), High Costs AilPer the Zacks analyst, Global Payments gains from its healthy revenue stream on the back of buyouts, partnerships and electronic payment transactions. However, high expense level continues to bother.Investments & Clean Power Generation Aid AVANGRID (AGR)Per the Zacks analyst, AVANGRID's consistent investments will assist in upgrading its infrastructure. An expanding wind and solar generation portfolio will boost the company's performance.eSignature Strength Boosts DocuSign (DOCU) Despite ExpensesThe Zacks analyst is positive about DocuSign's top line, as it is significantly benefiting from continued customer demand for eSignature. However, escalating expenses are creating headwinds.Paramount Global (PARA) Banks on Paramount+, PlutoTV GrowthPer the Zacks analyst, Paramount Global is benefiting from strong viewership for its solid portfolio of streaming services including Paramount+ and PlutoTV.Rocket's (RCKT) Progress With Gene Therapies EncouragingThe Zacks Analyst is impressed with Rocket's encouraging gene therapy pipeline. An approval for the company's first product Kresladi, to treat leukocyte adhesion deficiency-I, is expected in June.New UpgradesRobust Public Sector Demand to Aid Vulcan's (VMC) Prospects Per the Zacks Analyst, Vulcan is likely to benefit from strong public sector demand. Also, strong aggregate-led business performance, and large industrial project demand bode well.Solid Bookings & Fleet Expansion to Aid Royal Caribbean (RCL)Per the Zacks analyst, Royal Caribbean is likely to benefit from robust booking trends, fleet expansion and digital initiatives. Also, strength in consumer onboard spending bodes well.Decent Comps Run to Fuel Sprouts Farmer' (SFM) Top LinePer the Zacks analyst, Sprouts Farmers' focus on product innovation, emphasis on e-commerce and expansion of private label offerings bode well. Comps are likely to rise 1.5-3.5% in 2024.New DowngradesRising Expenses and Lower Order backlog to Ail Thor (THO)The Zacks analyst is worried about Thor's rising SG&A expenses as a percentage of sales amid high investments in automation and innovation strategies. Declining backlog remains a concern.Weakness in Industrial Business Unit to Hurt Plexus (PLXS)Per the Zacks analyst, weakness in the Healthcare/Life Sciences and Industrial sectors is affecting Plexus' performance. Also, stiff competition and volatile macro environment is concerning.Softness in Biopharma Business Impedes Bio-Rad (BIO) GrowthThe Zacks analyst is worried about Bio-Rad witnessing reduced demand from biopharma customers for its process chromatography resins, resulting slower growth in Life Science Segment.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportExxon Mobil Corporation (XOM) : Free Stock Analysis ReportPepsiCo, Inc. (PEP) : Free Stock Analysis ReportVulcan Materials Company (VMC) : Free Stock Analysis ReportCadence Design Systems, Inc. (CDNS) : Free Stock Analysis ReportHSBC Holdings plc (HSBC) : Free Stock Analysis ReportCrowdStrike (CRWD) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Top Analyst Reports for Exxon Mobil, PepsiCo & HSBC

https://finance.yahoo.com/news/top-analyst-reports-exxon-mobil-192100166.html

4f5da8ba-9908-3b71-9445-94ed6110fc8e

VRSK

Verisk Analytics, Inc. (NASDAQ:VRSK) Q4 2023 Earnings Call Transcript February 21, 2024Verisk Analytics, Inc. misses on earnings expectations. Reported EPS is $1.4 EPS, expectations were $1.42. Verisk Analytics, Inc. isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here).Operator: Good day, everyone, and welcome to the Verisk Fourth Quarter and Full Year 2023 Earnings Results Conference Call. This call is being recorded. Currently, all participants are in listen-only mode. After today's prepared remarks, we will conduct a question-and-answer session, where we will limit participants to one question so that we can allow everyone to ask a question. We will have further instructions for you at that time. For opening remarks and introduction, I would now like to turn the call over to Verisk's Head of Investor Relations, Ms. Stacey Brodbar. Ms. Brodbar, please go ahead.Stacey Brodbar: Thank you, operator and good day, everyone. We appreciate you joining us today for a discussion of our fourth quarter and full year 2023 financial results. On the call today are Lee Shavel, Verisk's President and Chief Executive Officer; and Elizabeth Mann, Chief Financial Officer. The earnings release referenced on this call, as well as our traditional quarterly earnings presentation and the associated 10-K can be found in the Investors section of our website, verisk.com. The earnings release has also been attached to an 8-K that we have furnished to the SEC. A replay of this call will be available for 30 days on our website and by dial-in. As set forth in more detail in today's earnings release, I will remind everyone today's call may include forward-looking statements about Verisk's future performance, including those related to our financial guidance.Actual performance could differ materially from what is suggested by our comments today. Information about the factors that could affect future performance is contained in our recent SEC filings. Finally, I'd also like to remind everyone that the financial results for recent dispositions are included in our consolidated and GAAP results but are excluded from all organic constant currency growth figures. A reconciliation of reported and historic non-GAAP financial measures discussed on this call is provided in our 8-K and today's earnings presentation posted on the Investors section of our website, verisk.com. However, we are not able to provide a reconciliation of projected adjusted EBITDA and adjusted EBITDA margin to the most directly comparable expected GAAP results because of the unreasonably effort and high unpredictability of estimating certain items that are excluded from projected non-GAAP adjusted EBITDA and adjusted EBITDA margin, including, for example, tax consequences, acquisition-related costs, gains and losses from dispositions and other non-recurring expenses, the effect of which may be significant.Story continuesAnd now, I'd like to turn the call over to Lee Shavel.Lee Shavel: Thank you, Stacey. Good morning, everyone, and thank you for participating in this morning's call. I am pleased to be here today to recap what was an exceptional year for Verisk, marked by strategic, organizational and cultural change matched with outstanding financial performance and value creation for clients and shareholders alike. Elizabeth will provide the financial detail but in summary, we delivered 8.7% organic constant currency revenue growth in 2023, the strongest performance on record since our initial public offering back in 2009. And we exceeded the expectations we set at Investor Day in March. We combine this with double-digit organic constant currency adjusted EBITDA growth and 150 basis points of margin expansion on an Insurance-only basis, achieving the low end of the initial margin improvement goal of 300 basis points one year earlier than our original target of 2024.And we have plans in place to build on that in 2024 and beyond. Despite the separation of our non-Insurance business, we still grew free cash flow 6% to over $800 million and above our 2022 level on an unadjusted basis. Over the past two years, we demonstrated capital discipline by returning over $4 billion in proceeds from recent dispositions, to shareholders through share repurchases reducing our share base by about 10%. This also served to substantially improve our capital efficiency, and boost our returns on invested capital. And while our strong 2023 revenue growth was exceptional, the long-term opportunity of addressing our clients' most pressing needs, gives me confidence in our strategy to drive consistent and predictable growth in 2024 and beyond.The insurance industry backdrop in which we are operating, is relatively comparable to 2023. Insurance carriers continue to deal, with cyclical challenges on profitability resulting from higher losses and the lagging effects of inflation, by restricting new business in profit-challenged markets. The most recent AM Best data shows losses for the first nine months of 2023 were $32.2 billion, a further deterioration from the $24.5 billion in net losses recorded through the first six months of the year and tracking way ahead of the pace of losses in 2022. This caused AM Best to downgrade their outlook for the homeowners line from stable to negative, while also maintaining their negative outlook on personal auto. To some extent, profitability challenges in the industry were the result of higher catastrophe-related losses.Our own PCS data, points out that 2023 was the highest year on record for frequency of catastrophe activity, with 74 events. While 2023, did not have a major tropical hurricane make US landfall, wind and severe convective storms were dominant and the major source of events in the year. That said, the fourth quarter of 2023 was a relatively quiet period with only seven events, and was lower than the fourth quarter of 2022, which experienced 13 events. On the more positive end, carriers are having success raising rates and driving premium growth and are taking the very early steps in certain lines to unwind restrictions on writing new business, as they achieve rate adequacy. In fact, net written premium growth increased 10.8% for the first nine months of 2023.More structurally, the insurance industry continues to be challenged by the rapid pace of technological change including, digitalization and cloud migration. This is being compounded by the fact, that the industry also faces technological debt and aging legacy systems. In addition, the industry continues to experience growing regulatory focus on issues of data privacy, fairness and climate risk. Our business model and strategy are designed to address our customers' most pressing needs, both from a cyclical and structural perspective. We invest on behalf of the industry, applying our industry knowledge and technical expertise at scale, to deliver value to our clients at a lower cost of investment and ownership than any one participant can achieve individually.As we work with our clients on a more integrated basis, the opportunities to develop new solutions expands. We are focused on the three key priorities, we articulated back at Investor Day namely, delivering consistent and predictable top line growth, driving operating efficiency and profitability and ensuring disciplined capital allocation. Let me spend a few minutes on how we plan to go after each in 2024 and beyond. Our first priority is delivering consistent and predictable growth, through strategic dialogue with clients in innovation. Throughout 2023, we made substantial progress on our initiative to elevate the strategic dialogue with our clients, and to become their strategic data analytic and technology partner. During the year, I met with over three dozen client CEOs and senior leaders representing over half of the US property and casualty insurance industry direct written premium to discuss how we could better support their objectives.Three primary themes came up repeatedly. How can you accelerate and expand the delivery of data and analytics to our organization? How can Verisk augment the capabilities of our colleagues to improve their ability to manage the amount of information they receive? And finally, how can Verisk help better connect the ecosystems we operate in to improve our efficiency. On the acceleration point, we are intensively addressing this opportunity across our businesses, but perhaps most significantly in our Core Lines Reimagine project to reengineer how we deliver our core data sets and analytics to meet the rapidly evolving ingestion demands of our clients. Prospectively, we see the application of low no-code and micro services technology that we have successfully deployed in the life insurance industry, having material significance to the property and casualty segment and have been working with clients on testing applications.On augmentation, we have already been applying generative AI technology through our Discovery Navigator solution to dramatically accelerate the summarization of large and complex medical files in our casualty business. Prospectively, we have been developing and working with clients to refine several augmented underwriting applications. On connectivity, we have been investing in our Xactware platform to support the integration of more ecosystem and partners. Last week, I attended our Elevate Conference in Salt Lake City, which had record attendance from our insurance contractor, adjuster clients, and over 30 ecosystem partners. Both clients and partners expressed enthusiasm for our delivery of improved connectivity and efficiency, demonstrating the network potential of this business.Finally, on connectivity, we were thrilled at last week's announcement of Marsh's expansion of its digital trading initiative on the Verisk Whitespace platform. This builds on a successful pilot in 2023, which traded over $400 million in premium and is a gratifying endorsement by a world-leading insurance broker that should draw more participation onto a data-first platform that will drive greater efficiency for the market. With expansion across its UK specialty and international placement business, Marsh anticipates that over 90% of all client premium in that segment will flow through the platform by the end of 2024. Our strategic conversations are also helping to drive more informed innovation. In our conversations with clients, we repeatedly hear about the increasing regulatory focus and reporting requirements on fairness and unfair discrimination.To address this need during the fourth quarter, we launched FairCheck, a solution designed to address issues of fairness and discrimination in the underwriting process. FairCheck helps insurers test their personal lines' models and variables to respond to regulatory change and to evaluate and mitigate the potential for unfairly discriminatory outcomes. This solution is an extension of the work we did internally to assess Verisk's own personal auto rating model, to determine whether there were unfair pricing outcomes regarding race. We recently signed a national property and casualty carrier to be our first customer. Internally during 2023, we worked with an outside consultant to sharpen our go-to-market strategy and are implementing the first steps of this changed approach in 2024.This includes an investment behind sales effectiveness, incorporating a change to the composition of incentives to be more in line with industry best practices. In addition, we have identified pricing and packaging opportunities within property estimating solutions and extreme event solutions. And we will be bringing them to market throughout this year. Our second priority from Investor Day is driving operating efficiency and profitability. We remain committed to driving operating efficiency and margin expansion over time. We are leaning into our global talent optimization initiative, tapping into the talent-rich and low-cost markets like Krakow Poland and Hyderabad India. We have recently expanded our real estate footprint in both markets to support our growth.Additionally, we should continue to achieve savings as we modernize and optimize our technology infrastructure across all our legacy systems, including our internal financial and human capital ERP upgrade, which is underway and which should start delivering early efficiency benefits in 2025 with the full impact to be achieved in two to three years. As we look out, we see opportunity in improving our operational efficiency by careful reviews of our workflow and processes. We will continue to deploy our Lean Six Sigma program to drive additional savings and continue to focus on our organizational structure and efficiency. And finally, our third priority is disciplined capital allocation. Disciplined capital allocation underscores all our decision-making at Verisk.We invest our strong free cash flow into value-creating opportunities that support growth with attractive returns. Excess capital is returned to shareholders through dividends and share repurchases. In 2023, our return on invested capital was approximately 26% with incremental returns on capital at approximately 19%, as continue to invest our capital at high internal rates of return. We are excited about the many opportunities we have to invest across our business in emerging technologies, including generative AI, low no-code applications and international expansion. We also are investing behind upgrades and re-platforming of our core solutions, some of which have been underinvested and need modernization to support future innovation. The most notable example is our Core Lines Reimagine project.An engineer using the latest predictive analytics software to formulate solutions.As we highlighted before, we are about one-third of the way through this project from an investment perspective and we are engaging our clients as we plan for customer-facing modules launching in 2024. While there is still much work to be done, we are already driving returns through strong contract renewals with our largest customers, as they recognize the value of the program. We are also investing in modernizing our property estimating solutions platform to advance our strategic goal of creating a more open ecosystem that is resilient, redundant and available for all stakeholders. We are simplifying partner integration and developing new services to enable deeper workflow integration, richer solutions and better client services. This initiative should increase our agility and create a more dynamic work environment for both our clients and our development teams.We are also excited about the opportunities to continue to create incremental value in our insurance related acquisitions. For example, in claims, we are driving growth and synergies in our three recent acquisitions in Germany, where we have a leading market position in the bodily injury space and are adding services and technology offerings in the auto and property spaces through the acquisitions of ACTINEO, Krug and Rocket respectively. These acquisitions enable us to deliver solutions and add value to our German customers across the entire claims life cycle. Before we close, I want to address the recent leadership announcements naming three new business leaders to the Verisk Senior Operating Committee. Rob Newbold was named President, Extreme Events taking over the reins from Bill Churney who retired at the end of the year.And Doug Caccese and Saurabh Khemka, who are recently named Co-Presidents of Underwriting Solutions replacing Neil Spector who has moved into a strategic advisory role. All three leaders are evidence of our deeply talented management bench and focused leadership development and succession planning process. I want to thank both Bill and Neil for their many contributions to Verisk and to me personally as I stepped into the role of CEO. And while we will miss them, they have left their business in the very capable hands of talented, experienced and energized leaders. 2023 was a demonstration of Verisk's evolving culture. We delivered strong financial success, while absorbing organizational and leadership change. And I am excited about having the fresh perspective and energy of these three leaders as we move into 2024.With that, I'll hand it over to Elizabeth to review our financial results.Elizabeth Mann : Thanks Lee, and good day to everyone on the call. I am pleased to share that Verisk delivered a solid fourth quarter capping off an outstanding 2023. On a consolidated and GAAP basis, fourth quarter revenue was $677 million, up 7.4% versus the prior year, reflecting solid growth in underwriting and more modest growth in claims. Income from continuing operations was $182 million, down 15.5% versus the prior year, while diluted GAAP earnings per share from continuing operations were $1.25, down 8.8% versus the prior year. The year-over-year decline in both measures were primarily due to a $19 million litigation reserve expense related to our former Financial Services segment that was previously sold, alongside a one-time tax benefit of $30 million, or $0.19 per share in the fourth quarter of 2022.Additionally, elevated depreciation and amortization expenses in the fourth quarter of 2023, resulting from the completion and implementation of certain large internally developed software projects during the year, also contributed to the decrease. These factors were partially offset by strong revenue growth, lower net interest expense and the benefit from our accelerated share repurchase program. Moving to our organic constant currency results. Adjusted for non-operating items as defined in the non-GAAP financial measures section of our press release, our operating results demonstrated solid growth for most of our businesses. In the fourth quarter, OCC revenues grew 6% with growth of 7.3% in underwriting, and 2.8% in claims. Normalizing for the $5.6 million in storm-related revenue in the fourth quarter of 2022, total OCC revenue growth would have been 6.9% and claims OCC revenue growth would have been 6.0%.As expected and as we highlighted in prior quarters, some of the environmental trends recorded elevated growth earlier in the year began to normalize in the fourth quarter. Additionally, we did begin to overlap tougher comparisons in many of our businesses. That said, 2023 was a record year for Verisk, with total OCC revenue growth of 8.7%, driven by strong growth of 8.5% in underwriting and 9.3% in claims. Growth for the full year was broad-based with almost all businesses delivering better-than-expected results. Throughout 2023, our increased focus on the Insurance business and our energized organization, capitalized on three key industry and environmental trends to amplify our growth. These trends included, the pricing environment, resulting from the hard insurance market, the high transaction activity, driven by elevated shopping activity for auto insurance and the active US weather patterns that Lee highlighted.Our subscription revenues, which comprise 80% of our total revenue in the quarter, grew 7.3% on an OCC basis during the fourth quarter, with growth in almost all our subscription-based solutions. The drivers of growth we experienced in the quarter were consistent with trends we saw throughout 2023. More specifically during the quarter, we experienced the continued benefit on certain of our revenues from the stronger net premium growth in 2021, which is currently reflected in some of our contract pricing. In anti-fraud, we saw underlying strength in the business with growth augmented by the continued benefit from the conversion to subscription from previously transactional customers through our claims essential bundle. That said, we have started to anniversary the benefit we experienced from these conversions and are expecting the benefit from this transition to continue to moderate in 2024.These strengths were offset in part by continued weakness within Verisk Marketing Solutions and a more normalized level of attrition across the business, including some reduction in the level of contractor activity, due to the weather and some pressure within our Insurtech customer segment. Our transactional revenues, representing 20% of total revenue in the fourth quarter, increased a modest 0.8% on an OCC basis, reflecting a tough comparison versus the prior year, which included revenues associated with Hurricane Ian. Adjusting for the storm impact, transactional revenue growth would have been 4.1%. During the quarter, we continued to see strong results from our auto solutions, driven by healthy consumer shopping activity and the final quarter of benefit from the large nonrate action deal we signed for 2023.We have begun to overlap the positive inflection in shopping behavior from last year and are expecting growth to moderate in 2024. Our transactional revenue growth also benefited from double-digit growth within life insurance solutions, as we are seeing strong customer demand for incremental services. And within our extreme events business, we saw better-than-expected transactional growth driven by securitizations. Moving now to our adjusted EBITDA results. OCC adjusted EBITDA growth was 6.5% in the fourth quarter, while total adjusted EBITDA, margin which includes both organic and inorganic results was 53.4%, up 70 basis points from the reported results in the prior year. The fourth quarter margin rate reflects the positive impact of sales leverage, cost discipline and foreign currency changes.This was offset in part by margin pressure from higher incentive compensation, acquisitions and organic investments for future growth. 2023 was a year of tremendous growth and efficiency for Verisk as evidenced by total OCC adjusted EBITDA growth of 11.5%, while total adjusted EBITDA margin was 53.5%, up 150 basis points from the prior year. This margin rate reflects core operating leverage from the strong revenue growth and cost discipline across the organization. As Lee discussed earlier, delivering operational efficiency and profitability remains a key priority for us as we move forward into 2024 and beyond. We have confidence we can continue to make further progress, while also balancing investments to support future growth. Continuing down the income statement, net interest expense was $28 million for the fourth quarter compared to $41 million in the prior year.The current level of net interest expense reflects lower year-over-year debt balances as well as higher interest on cash balances. Depreciation and amortization of fixed assets was $68 million for the quarter, an increase of 57%. The increase was primarily driven by an additional $23 million of expense related to the timing of certain large internally developed software projects that were completed and placed into service during the year. On taxes our reported effective tax rate was 24.9% compared to 9.9% in the prior year quarter. The year-over-year increase in the tax rate is related to the one-time tax benefit of $30 million in the fourth quarter of 2022 and a $19 million litigation reserve taken in the fourth quarter 2023 that we mentioned earlier.Adjusted net income decreased 9.3% to $204 million and diluted adjusted EPS decreased 2.1% to $1.40 for the fourth quarter. These changes reflect the negative impact from the one-time tax benefit in the prior year quarter and higher depreciation and amortization expenses, partially offset by solid revenue and EBITDA growth lower net interest expense and a lower average share count. The share count reflects the impact of the additional $250 million of share repurchases executed in the fourth quarter as well as the final settlement of our $2.5 billion accelerated share repurchase plan that we entered into in March. From a cash flow perspective, on a reported basis net cash from operating activities increased 1.4% to $252 million, while free cash flow increased 15.8% to $196 million.It is important to note that the prior year cash flow figures still include the results of our previously divested Energy business. So, these growth figures understate the full cash flow growth potential of our Insurance-only business. On dividends and repurchases, during 2023, we returned $3 billion of capital to shareholders through dividends and repurchases. We are pleased to share that the Board has approved a $0.05 or 15% increase in our quarterly cash dividend to $0.39 per share. In addition our Board has also authorized an additional $1 billion in share repurchases, bringing our total authorization to $1.6 billion. On guidance, we are pleased to deliver our expectations for 2024 with growth and margins in line with our Investor Day target and they build upon the exceptional performance we delivered in 2023.More specifically, we expect consolidated revenue for 2024, to be in the range of $2.84 billion to $2.9 billion. We expect adjusted EBITDA to be in the range of $1.54 billion to $1.6 billion and adjusted EBITDA margin in the 54% to 55% range. This margin reflects strong cost discipline, while also funding incremental investment opportunities that we expect to drive future growth. These opportunities include investing in our sales force to drive greater sales effectiveness, expanding internationally through acquisitions and building our capabilities with new advanced technologies including Generative AI. Walking further down the P&L, we expect depreciation and amortization of fixed assets in the range of $210 million to $240 million and amortization of intangibles of approximately $75 million.Both items are subject to the timing of completion of projects and foreign currency changes. We expect our tax rate to be in the range of 23% to 25%. This all culminates in adjusted earnings, in the range of $6.30 to $6.60 per share. We also expect capital expenditures to be between $240 million and $260 million as we continue to invest organically to drive future growth. A complete list of all guidance measures can be found in the earnings slide deck, which has been posted to the Investors section of our website, verisk.com. And now, I will turn the call back over to Lee, for some closing comments.Lee Shavel: Thanks, Elizabeth. In summary, we're excited about the opportunity that lies ahead. Our motivating purpose is to partner with our clients in building resilience for individuals, communities and businesses globally. The combination of our focused business model, deep customer relationships and strategy to deliver value for clients through improved decision-making and operational efficiency is a formula that will also deliver value to our shareholders through growth and returns. We continue to appreciate the support and interest in Verisk, given the large number of analysts we have covering us, we ask that you limit yourself to one question. With that, I'll ask the operator, to open the line for questions.See also 12 Best Ways To Leave Money To A Child and 10 Countries with the Most Military Drones in the World.To continue reading the Q&A session, please click here.

Insider Monkey

Verisk Analytics, Inc. (NASDAQ:VRSK) Q4 2023 Earnings Call Transcript

https://finance.yahoo.com/news/verisk-analytics-inc-nasdaq-vrsk-151334141.html

a56ca74e-4b6b-3c5e-a984-6c75c6a49608

VRSK

Verisk Analytics (NASDAQ:VRSK) Full Year 2023 ResultsKey Financial ResultsRevenue: US$2.68b (up 7.4% from FY 2022).Net income: US$768.6m (down 26% from FY 2022).Profit margin: 29% (down from 42% in FY 2022). The decrease in margin was driven by higher expenses.EPS: US$5.24 (down from US$6.60 in FY 2022).earnings-and-revenue-growthAll figures shown in the chart above are for the trailing 12 month (TTM) periodVerisk Analytics EPS Misses ExpectationsRevenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 23%.Looking ahead, revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Professional Services industry in the US.Performance of the American Professional Services industry.The company's shares are down 2.7% from a week ago.Risk AnalysisIt's still necessary to consider the ever-present spectre of investment risk. We've identified 2 warning signs with Verisk Analytics, and understanding these should be part of your investment process.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

Verisk Analytics Full Year 2023 Earnings: EPS Misses Expectations

https://finance.yahoo.com/news/verisk-analytics-full-2023-earnings-104956310.html

a63f0f32-a6be-3e3b-a039-7465a05a4e2b

VRSK

Verisk Analytics, Inc.LONDON, UK, March 05, 2024 (GLOBE NEWSWIRE) -- Verisk (Nasdaq: VRSK), a leading global data analytics and technology provider, is pleased to announce that Hastings Direct, the technology driven UK insurance provider, is enhancing its household underwriting service capabilities through licensing Verisk’s UKBuildings.UKBuildings is a comprehensive and highly granular property database for an organisation or industry interested in accurate buildings data including, but not limited to residential and commercial insurance underwriters.The addition of Verisk's UKBuildings data to Hastings Direct’s underwriting services toolkit will enable the company to refine its risk assessment and underwriting analysis to meet the needs of its insurance underwriter by providing valuable insights into various property attributes, including basements.“Following the completion of a rigorous data test affirming the reliability and accuracy of Verisk’s UKBuildings, we were particularly impressed by the solution’s high level of detail and its ability to identify residential properties with basements,” says Simon Parker, Head of Household Underwriting, Hastings Direct. “The rich dataset will empower more informed decisions, strengthen risk management capabilities, and ultimately enhance the overall customer experience."Alex Croydon, managing director of general insurance UK at Verisk, added: “We are excited to support Hastings in its mission to accelerate growth and improve its household insurance book. Our UKBuildings data is designed to help provide insurers with a comprehensive understanding of property attributes, and we are confident that this collaboration will yield positive outcomes for both parties."About Verisk Verisk (Nasdaq: VRSK) is a leading strategic data analytics and technology partner to the global insurance industry. It empowers clients to strengthen operating efficiency, improve underwriting and claims outcomes, combat fraud and make informed decisions about global risks, including climate change, extreme events, ESG and political issues. Through advanced data analytics, software, scientific research and deep industry knowledge, Verisk helps build global resilience for individuals, communities and businesses. With teams across more than 20 countries, Verisk consistently earns certification by Great Place to Work and fosters an inclusive culture where all team members feel they belong. For more, visit Verisk.com and the Verisk Newsroom. About Hastings Founded in 1996 in Bexhill-on-Sea on the Sussex coast, the Hastings Group is one of the leading general insurance providers to the UK market, with 3.5 million live customer policies and employing over 3,300 colleagues.Story continuesThe Group provides simple and straightforward products and services to UK car, bike, van, and home insurance customers with around 90% of policies directly underwritten by its Gibraltar-based Underwriting business, Advantage Insurance Company Limited.For more information visit the Hastings Group website.CONTACT: Media contact: Mary Keller Verisk +01-339-832-7048 [email protected]

GlobeNewswire

Hastings Strengthens Household Underwriting Capabilities with Verisk’s UKBuildings, Robust Building and Property Data

https://finance.yahoo.com/news/hastings-strengthens-household-underwriting-capabilities-090000991.html

5ece987a-aff6-3846-8f35-077fd4bfc436

VRSK

Several companies have been delivering positive news to shareholders lately, including announcements of higher dividend payouts.A company opts to raise its dividend when confident in its current standing and cash-generating abilities. Of course, it also reflects the company’s commitment to returning value to shareholders, which is undoubtedly encouraging.Three companies — NetEase NTES, Verisk Analytics VRSK, and Waste Management WM — recently declared dividend hikes. For those with an appetite for income, let’s take a closer look at each.NetEaseNetEase is an Internet technology company that develops applications, services, and other technologies for the Internet in China. NTES announced a sizable 120% boost to its quarterly payout, with the company also boasting a 24% five-year annualized dividend growth rate. Analysts have been notably bullish on the company’s current year outlook, with the $7.91 Zacks Consensus EPS estimate up 35% over the last year and suggesting year-over-year growth of 12%. The stock sports a Style Score of ‘A’ for Growth.Zacks Investment ResearchImage Source: Zacks Investment ResearchVerisk AnalyticsVerisk Analytics is a data analytics provider serving customers in insurance, energy, and specialized markets and financial services. The company announced a 14.7% boost to its dividend, bringing the quarterly payout to $0.39 per share.Verisk has consistently increasingly rewarded its shareholders, as we can see illustrated below.Zacks Investment ResearchImage Source: Zacks Investment ResearchWaste ManagementWaste Management is a leading provider of comprehensive waste management services in North America. The company boosted its quarterly payout by 7%, with the payout now totaling $0.75 per share.Analysts have taken a bullish stance on the company’s earnings outlook, raising their expectations across all timeframes.Zacks Investment ResearchImage Source: Zacks Investment ResearchBottom LineDividends soften the blow from drawdowns in other positions, provide more than one way to reap a return from an investment, and allow maximum returns through dividend reinvestment.Story continuesAnd all three companies above – NetEase NTES, Verisk Analytics VRSK, and Waste Management WM – have recently boosted their payouts.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportWaste Management, Inc. (WM) : Free Stock Analysis ReportNetEase, Inc. (NTES) : Free Stock Analysis ReportVerisk Analytics, Inc. (VRSK) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Dividend Watch: 3 Companies Boosting Payouts

https://finance.yahoo.com/news/dividend-watch-3-companies-boosting-230500873.html

079749db-330a-36b1-954b-26eaacd3fa12

VRSK

Verisk Analytics, Inc.JERSEY CITY, N.J., March 11, 2024 (GLOBE NEWSWIRE) -- Verisk, (Nasdaq: VRSK), a leading global data analytics and technology provider, has announced the launch of two new accelerators, wcPrism® and wcNavigator®, designed to streamline and enhance workers' compensation claims processing within Guidewire ClaimCenter. These innovative solutions aim to accelerate claims processes in the insurance industry by leveraging advanced analytics and automation to improve efficiency and accuracy in claims management.How Verisk’s wcPrism worksThe wcPrism accelerator offers a smarter and faster way to report mandatory state-level workers' compensation claims. By automating data extraction and conversion processes, the accelerator can help improve the accuracy and timeliness of workers’ compensation compliance by:Using a single comprehensive data feed to automate the generation of required data reports based on industry and state specific reporting requirements.Applying the same validations utilized by states and data collection organizations to facilitate timely and accurate reporting."wcPrism can make workers’ compensation claim reporting more efficient, accurate, and stress-free,” said Carrie Barr, president of casualty solutions at Verisk. “By automating the reporting process, our solution allows claims professionals to dedicate more time to managing claims and providing exceptional service to their clients.”How wcNavigator works Verisk’s second accelerator, wcNavigator, utilizes predictive analytics to detect and manage high-severity workers' compensation claims within Guidewire ClaimCenter. By accurately identifying claim severity as early as the first notice of injury, wcNavigator enables adjusters and claims managers to proactively address potential issues and allocate resources effectively. This advanced solution can help improve claims outcomes by:Accurately assessing claims severity from first notice of loss.Providing alerts for changes in treatment and proactively monitoring prescribed medications.Story continuesBarr further explained the significance of wcNavigator, stating, "Claimants and insurers benefit from the faster severity detection which is vital to enabling workers’ compensation cases to be managed better. With wcNavigator, adjusters can make informed decisions earlier in the claims process, leading to improved outcomes and reduced costs."“We are excited to have wcPrism and wcNavigator available on the Guidewire Marketplace, to provide insurers with seamless integration and easy access to these cutting-edge solutions,” said Will Murphy, vice president, global technology alliances, Guidewire. “Guidewire supports Verisk's commitment to innovation and collaboration to help drive advancements in the workers' compensation industry, empowering insurers to optimize claims processing and deliver exceptional service to their policyholders.”More than 30 Verisk solutions are available on Guidewire Marketplace to help insurers complete processes from underwriting to renewal with reliable, claims-driven, component-based estimates that account for virtually all material and labor required to rebuild structures.###About Verisk Verisk (Nasdaq: VRSK) is a leading strategic data analytics and technology partner to the global insurance industry. It empowers clients to strengthen operating efficiency, improve underwriting and claims outcomes, combat fraud and make informed decisions about global risks, including climate change, extreme events, ESG and political issues. Through advanced data analytics, software, scientific research and deep industry knowledge, Verisk helps build global resilience for individuals, communities and businesses. With teams across more than 20 countries, Verisk consistently earns certification by Great Place to Work and fosters an inclusive culture where all team members feel they belong. For more, visit Verisk.com and the Verisk Newsroom. CONTACT: Mary Keller Verisk 339-832-1740 [email protected]

GlobeNewswire

Verisk Boosts Ecosystem, Adds Two Accelerators to Enhance Workers’ Compensation Claims in Guidewire ClaimCenter

https://finance.yahoo.com/news/verisk-boosts-ecosystem-adds-two-130000115.html

b503c942-81c5-386d-ba1b-44c1f0baee53

VRSN

VeriSign VRSN announced that domain name registrations increased 8.9 million or 2.5% year over year across all top-level domains (TLDs) in the fourth quarter of 2023. Sequentially, domain name registrations were up 0.2% to 359.8 million.The company continues to benefit from healthy growth across .com and .net domain name registrations. For 2023, the company expects the domain name base growth rate to fall 1% to rise 1% due to continued uncertainty and weakness related to China. China-based registrar demand has been weakening due to volatile economic conditions and a stringent regulatory environment coupled with unfavorable foreign currency movement and retail pricing adjustment.In the fourth quarter, the .com and .net TLDs decreased 1 million domain name registrations, or 0.6% year over year, to 172.7 million. Also, the .com and .net domain name bases totaled 159.6 million and 13.1 million domain name registrations, respectively, for the quarter that ended on Dec 31, 2023.VeriSign, Inc. Price and ConsensusVeriSign, Inc. Price and ConsensusVeriSign, Inc. price-consensus-chart | VeriSign, Inc. QuoteThe company processed 9 million new domain name registrations for .com and .net compared with 9.7 million in the year-ago quarter.The final .com and .net renewal rates for third-quarter 2023 were 73.5% compared with 73.7% in the year-ago quarter. Renewal rates are not fully measurable until 45 days after the end of the quarter. Management expects the renewal rate for fourth-quarter 2023 to be around 73.1% compared with 73.3% in the year-ago quarter.VeriSign is a leading provider of domain name registry services and Internet infrastructure. The company continues to expand its critical infrastructure to tap the growing demand for DNS navigation services in industries like commerce, education and healthcare.VeriSign announced that from Sep 1, 2024, it will increase the annual registry-level wholesale price for .net domain names by 67 cents to $10.26 from $9.59.VeriSign currently carries a Zacks Rank #3 (Hold). Shares of VRSN have lost 5.1% against the sub-industry’s growth of 17.5% in the past year.Story continuesZacks Investment ResearchImage Source: Zacks Investment ResearchStocks to ConsiderSome better-ranked stocks worth considering in the broader technology space are Cadence Design Systems CDNS, Woodward WWD and Watts Water Technologies WTS. Cadence sports a Zacks Rank #1 (Strong Buy), while Watts Water Technologies and Woodward carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for Cadence’s 2024 earnings per share (EPS) has improved 1.9% in the past 60 days to $5.87. CDNS’s long-term earnings growth rate is 17.1%.Cadence’s earnings surpassed the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 3.4%. Shares of CDNS have gained 49.3% in the past year.The Zacks Consensus Estimate for Woodward’s fiscal 2024 EPS has inched up 5.7% in the past 60 days to $5.20. WWD’s long-term earnings growth rate is 15.5%.Woodward’s earnings beat the Zacks Consensus in each of the last four quarters, the average surprise being 27.2%. Shares of WWD have gained 31.3% in the past year.The Zacks Consensus Estimate for Watts Water Technologies fiscal 2024 EPS has improved 0.4% in the past 60 days to $8.35. WTS’s long-term earnings growth rate is 7.8%.WTS’ earnings surpassed the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 13.5%. Shares of WTS have soared 11.9% in the past year.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportVeriSign, Inc. (VRSN) : Free Stock Analysis ReportCadence Design Systems, Inc. (CDNS) : Free Stock Analysis ReportWatts Water Technologies, Inc. (WTS) : Free Stock Analysis ReportWoodward, Inc. (WWD) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

VeriSign (VRSN) Q4 Domain Name Registrations Rise 2.5% Y/Y

https://finance.yahoo.com/news/verisign-vrsn-q4-domain-name-161200091.html

e568f969-149b-310b-b7b1-8f77186100ed

VRSN

On February 20, 2024, President & COO Todd B. Strubbe sold 9,423 shares of VeriSign Inc (NASDAQ:VRSN), according to a recent SEC Filing. The transaction was executed at an average price of $193.21 per share, resulting in a total sale amount of approximately $1,820,000.Warning! GuruFocus has detected 2 Warning Sign with VRSN.VeriSign Inc is a global provider of domain name registry services and internet infrastructure, enabling internet navigation for many of the world's most recognized domain names. The company ensures the security, stability, and resiliency of key internet infrastructure and services, including the .com and .net domains, as well as two of the internet's root servers.Over the past year, the insider has sold a total of 17,423 shares of VeriSign Inc and has not made any purchases of the stock. The recent sale by the insider is part of a trend observed over the past year, where there have been no insider buys and 60 insider sells.VeriSign Inc President & COO Todd B. Strubbe Sells 9,423 SharesAs of the date of the insider's recent sale, VeriSign Inc had a market capitalization of $19.60 billion. The stock's price-earnings ratio stood at 24.53, which is below the industry median of 27.12 and also below the companys historical median price-earnings ratio.The stock was trading at $193.21 on the day of the insider's sale, with a GuruFocus Value (GF Value) of $239.46. This results in a price-to-GF-Value ratio of 0.81, indicating that VeriSign Inc is considered modestly undervalued based on its GF Value.VeriSign Inc President & COO Todd B. Strubbe Sells 9,423 SharesThe GF Value is calculated considering historical trading multiples, a GuruFocus adjustment factor based on the company's past returns and growth, and future business performance estimates provided by Morningstar analysts.Investors and analysts often monitor insider selling as it can provide insights into an insider's perspective on the value of the company's stock. However, insider transactions are not necessarily indicative of future stock performance and may be influenced by various factors, including personal financial requirements or portfolio diversification strategies.This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.This article first appeared on GuruFocus.

GuruFocus.com

VeriSign Inc President & COO Todd B. Strubbe Sells 9,423 Shares

https://finance.yahoo.com/news/verisign-inc-president-coo-todd-042815590.html

8ae44c8d-36e8-3e2a-b7be-43d2512adab1

VRSN

In the latest trading session, VeriSign (VRSN) closed at $195.23, marking a -0.03% move from the previous day. This move lagged the S&P 500's daily gain of 0.8%. Meanwhile, the Dow experienced a rise of 0.23%, and the technology-dominated Nasdaq saw an increase of 1.14%.Heading into today, shares of the internet infrastructure services provider had lost 2.48% over the past month, lagging the Computer and Technology sector's gain of 5.97% and the S&P 500's gain of 5.2% in that time.Analysts and investors alike will be keeping a close eye on the performance of VeriSign in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $1.84, marking an 8.24% rise compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $388 million, indicating a 6.48% increase compared to the same quarter of the previous year.Investors should also pay attention to any latest changes in analyst estimates for VeriSign. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. At present, VeriSign boasts a Zacks Rank of #3 (Hold).Investors should also note VeriSign's current valuation metrics, including its Forward P/E ratio of 24.97. This valuation marks no noticeable deviation compared to its industry's average Forward P/E of 24.97.Story continuesThe Internet - Software and Services industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 86, positioning it in the top 35% of all 250+ industries.The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportVeriSign, Inc. (VRSN) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

VeriSign (VRSN) Stock Sinks As Market Gains: Here's Why

https://finance.yahoo.com/news/verisign-vrsn-stock-sinks-market-225010470.html

be4088f2-b0c1-3ca5-8b27-40733b9bd60e

VRSN

VeriSign (VRSN) closed the most recent trading day at $192.65, moving +0.68% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.03%. Meanwhile, the Dow gained 0.34%, and the Nasdaq, a tech-heavy index, added 1.51%.Shares of the internet infrastructure services provider have depreciated by 4.46% over the course of the past month, underperforming the Computer and Technology sector's gain of 2.52% and the S&P 500's gain of 3.21%.The investment community will be paying close attention to the earnings performance of VeriSign in its upcoming release. The company is forecasted to report an EPS of $1.84, showcasing an 8.24% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $388 million, up 6.48% from the year-ago period.Additionally, investors should keep an eye on any recent revisions to analyst forecasts for VeriSign. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Currently, VeriSign is carrying a Zacks Rank of #3 (Hold).Looking at its valuation, VeriSign is holding a Forward P/E ratio of 24.47. This valuation marks a premium compared to its industry's average Forward P/E of 23.57.Story continuesThe Internet - Software and Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 60, putting it in the top 24% of all 250+ industries.The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.To follow VRSN in the coming trading sessions, be sure to utilize Zacks.com.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportVeriSign, Inc. (VRSN) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

VeriSign (VRSN) Ascends But Remains Behind Market: Some Facts to Note

https://finance.yahoo.com/news/verisign-vrsn-ascends-remains-behind-225014562.html

dd602c35-a33f-3cc0-bf9d-4378264271ba

VRTX

Dow Jones media giant Disney is among the best stocks to buy and watch in today's stock market, along with SharkNinja and Vertex.Continue reading

Investor's Business Daily

Dow Jones Media Giant Disney Is Among Four Stocks In Or Near Buy Zones

https://finance.yahoo.com/m/b62e3356-1e34-38a5-a8af-3f438b4ee56b/dow-jones-media-giant-disney.html

b62e3356-1e34-38a5-a8af-3f438b4ee56b

VRTX

Vertex Pharmaceuticals (NASDAQ: VRTX) has built a cystic fibrosis (CF) treatment empire that brings in billions of dollars in earnings annually. And just recently, the company demonstrated it could successfully expand beyond this specialty when it won approval for a gene-editing treatment for blood disorders. Casgevy, for beta thalassemia and sickle cell disease, may become another source of billion-dollar revenue for Vertex and partner CRISPR Therapeutics.Investors have rewarded the biotech giant by piling into the shares, helping them rise to a record high. Over the past year, Vertex stock has climbed almost 50%. Now you may be wondering if, after those gains, it's too late to get in on this exciting biotech story. Well, I've got good news for you: It isn't. In fact, there are three reasons to load up on Vertex shares right now.Image source: Getty Images.1. Billion-dollar pain prospectsVertex isn't done expanding beyond its CF specialty area. The biotech recently reported positive pivotal trial data on VX-548, a candidate to treat one of the most common problems around: pain. Vertex aims to file a regulatory submission by midyear, so if all goes smoothly, we could be looking at a new -- and significant -- revenue opportunity in the near term.VX-548 is a non-opioid pain candidate, acting on a sodium channel that plays a key role in pain signaling. This potential treatment could be big because, today, pain treatment options are limited. Over-the-counter medications often aren't strong enough, and prescription opioids carry the risk of addiction. VX-548 could fill the gap, offering patients a compelling option -- and eventually reach peak annual revenue of at least $5 billion, according to analyst forecasts.Vertex hopes to win regulatory approval with a broad moderate-to-severe acute pain label and in the future gain approval in chronic pain, too. So, this could be a key growth product for the biotech.2. A new wave of dominance in the cystic fibrosis marketVertex sells a portfolio of therapies that have improved the quality of life and extended the lives of CF patients. And this portfolio is led by blockbuster Trikafta, which helped Vertex generate more than $9.8 billion in revenue last year.Story continuesBut there may be competition ahead, and this competition comes right out of Vertex's laboratories. The company recently reported pivotal trial data for a candidate known as "the vanza triple," a therapy that tops even the superstar Trikafta. In trials, it did a better job than Trikafta at lowering sweat chloride levels in CF patients. These levels are typically high in those with CF because these patients have trouble clearing chloride from the cells.The vanza triple is a once-daily pill compared to the twice-daily Trikafta regimen, making it a more attractive option.Trikafta's patent implies CF dominance through 2037, but if the vanza triple wins regulatory approval, investors could expect an even longer period of leadership in this billion-dollar market. Vertex plans to file for regulatory review by the middle of this year.3. An attractive valuationAs mentioned above, Vertex shares have climbed, even touching a record high in recent weeks. In spite of the gains, though, Vertex's valuation still looks reasonable -- the stock trades for 25x forward earnings estimates -- considering its near-term revenue growth drivers, mentioned above, and long-term prospects.It's important to remember the new potential products for pain and CF, as well as Casgevy, could drive significant revenue growth for a number of years. And today's valuation, even based on forward earnings estimates, doesn't take all of that into account.As for the coming five years, Wall Street predicts the company will deliver double-digit annual growth.All of this means that right now, even after the stock's gains and even as it trades close to record high levels, Vertex remains a bargain for the long-term investor. And that's a great reason to buy this top biotech like there's no tomorrow.Where to invest $1,000 right nowWhen our analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for two decades, Motley Fool Stock Advisor, has more than tripled the market.*They just revealed what they believe are the 10 best stocks for investors to buy right now… and Vertex Pharmaceuticals made the list -- but there are 9 other stocks you may be overlooking.See the 10 stocks*Stock Advisor returns as of February 26, 2024Adria Cimino has positions in Vertex Pharmaceuticals. The Motley Fool has positions in and recommends CRISPR Therapeutics and Vertex Pharmaceuticals. The Motley Fool has a disclosure policy.3 Reasons to Buy Vertex Pharmaceuticals Stock Like There's No Tomorrow was originally published by The Motley Fool

Motley Fool

3 Reasons to Buy Vertex Pharmaceuticals Stock Like There's No Tomorrow

https://finance.yahoo.com/news/3-reasons-buy-vertex-pharmaceuticals-100300238.html

336384a4-d603-3618-b50c-f5155b1e2497

VRTX

A month has gone by since the last earnings report for Vertex Pharmaceuticals (VRTX). Shares have lost about 0.2% in that time frame, underperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is Vertex due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.Q4 Earnings & Sales BeatVertex reported fourth-quarter 2023 adjusted earnings per share of $4.20, which beat the Zacks Consensus Estimate of $4.10. Earnings increased 12% year over year, driven by strong growth in product revenues.The company reported total revenues of $2.52 billion, comprising cystic fibrosis (CF) product revenues. The figure beat the Zacks Consensus Estimate of $2.49 billion. However, total revenues rose 9.3% year over year, primarily driven by higher sales of Trikafta/Kaftrio (marketed as Kaftrio in Europe) in U.S. and ex-U.S. markets.CF product sales rose 8% year over year in the United States to $1.57 billion, while sales outside the United States increased 12% to $943 million.Trikafta generated sales worth $2.33 billion, up 15.4% year over year. Trikafta sales beat the Zacks Consensus Estimate and our model estimate of $2.29 billion and $2.28 billion, respectively.The upside was driven by the continued robust performance of Trikafta in the United States, fueled by label expansions to younger age groups (two to five years old). In the ex-U.S. markets, the drug continues to witness strong uptake with recently achieved reimbursements and expanded use in young age groups.Sales from other CF products, namely Symdeko/Symkevi, Kalydeco and Orkambi, were down 34.4% year over year to $184.4 million. Sales of these drugs were hurt by patients switching to Trikafta.On the conference call, Vertex said that the commercial launch of Casgevy is currently underway in the United States, United Kingdom, Saudi Arabia and Bahrain. The company expects the first commercial patients to start treatment with Casgevy in the upcoming weeks.Story continuesCosts RiseAdjusted operating expense was $1.0 billion in the quarter, up 15% year over year.Adjusted R&D expenses rose 12.1% year over year to $698.8 million due to the expansion of the company’s mid- and late-stage pipeline, especially the pivotal studies for VX-548 in acute pain.Adjusted selling, general and administrative (SG&A) expenses increased 26.6% to $285.6 million in the reported quarter due to expenses for CF launches and commercial launch activities for CasgevyDuring the reported quarter, Vertex recorded acquired in-process research and development (IPR&D) costs of $17.8 million compared with $22.6 million in the year-ago quarter.Adjusted operating income was $1.15 billion in the quarter, almost flat from the prior-year period.Full-Year ResultsFor 2023, Vertex generated revenues of $9.87 billion, reflecting 11% growth year over year.For the same period, the company reported adjusted earnings of $15.23 per share, up 2.4% year over year.2024 GuidanceThe company expects total product sales in the range of $10.55-$10.75 billion for 2024, including sales from Casgevy. The revenue range represents revenue growth of 8% at the midpoint.Combined adjusted R&D, acquired IPR&D and SG&A expense for 2024 is expected in the band of $4.3-$4.4 billion, which includes $125 million in upfront and milestone payments.The adjusted tax rate is expected in the range of 20-21%.How Have Estimates Been Moving Since Then?It turns out, estimates review have trended downward during the past month.The consensus estimate has shifted -5.89% due to these changes.VGM ScoresCurrently, Vertex has a subpar Growth Score of D, a grade with the same score on the momentum front. Charting a somewhat similar path, the stock was allocated a grade of C on the value side, putting it in the middle 20% for this investment strategy.Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Vertex has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.Performance of an Industry PlayerVertex is part of the Zacks Medical - Biomedical and Genetics industry. Over the past month, GSK (GSK), a stock from the same industry, has gained 2%. The company reported its results for the quarter ended December 2023 more than a month ago.Glaxo reported revenues of $10 billion in the last reported quarter, representing a year-over-year change of +15.5%. EPS of $0.72 for the same period compares with $0.64 a year ago.Glaxo is expected to post earnings of $0.91 per share for the current quarter, representing a year-over-year change of +1.1%. Over the last 30 days, the Zacks Consensus Estimate has changed +7.7%.Glaxo has a Zacks Rank #1 (Strong Buy) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of F.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportVertex Pharmaceuticals Incorporated (VRTX) : Free Stock Analysis ReportGSK PLC Sponsored ADR (GSK) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Vertex (VRTX) Down 0.2% Since Last Earnings Report: Can It Rebound?

https://finance.yahoo.com/news/vertex-vrtx-down-0-2-163016591.html

4496d583-078a-35f0-8d22-ed34c007221d

VRTX

Eli Lilly has been on a roll. The big drugmaker won U.S. regulatory approval for weight loss drug Zepbound in November 2023. Over the last 12 months, Lilly's share price has skyrocketed more than 140%. Lilly has also claimed the mantle of the biggest healthcare company in the world based on market cap.Don't worry if you feel as if you've missed out on Lilly's remarkable rise, though. Here are three healthcare stocks with big catalysts on the horizon.1. Madrigal PharmaceuticalsThere are currently no therapies approved by the U.S. Food and Drug Administration (FDA) for treating nonalcoholic steatohepatitis (NASH), a liver disease that affects an estimated 6% of Americans. That could soon change. The FDA set a PDUFA date of March 14, 2024, for deciding on accelerated approval for Madrigal Pharmaceuticals' (NASDAQ: MDGL) resmetirom in treating NASH patients with liver fibrosis.Although there's no guarantee that the FDA will approve resmetirom, Madrigal is optimistic. Chief Medical Officer Becky Taub said in the press release announcing the agency's acceptance of the approval application for the drug, "We believe that we have delivered a compelling data package to support the FDA's benefit-risk evaluation of resmetirom for the treatment of NASH with liver fibrosis." CEO Bill Sibold said in Madrigal's recent fourth-quarter update that the company is busy preparing for a potential U.S. launch.Madrigal isn't limiting its hopes to the U.S. market. Just days ago, the company announced that its Marketing Authorization Application for resmetirom had been accepted by the European Medicine Agency's (EMA) Committee for Medicinal Products for Human Use (CHMP). This marks a key step toward potential approval for the NASH therapy in the European Union.Estimates vary about how much money resmetirom will make if approved. However, SVB Securities thinks the drug could achieve peak annual sales of around $2.5 billion. Jefferies looks for resmetirom to eventually pull in $3 billion per year. With Madrigal's market cap currently hovering around $5 billion, this biotech stock could have a lot of room to run.Story continues2. Regeneron PharmaceuticalsRegeneron Pharmaceuticals (NASDAQ: REGN) might look like a big biopharmaceutical company that's past its prime. After delivering sizzling growth in the past, Regeneron's sales increased by a measly 1% year over year in the fourth quarter of 2023. But don't let this underwhelming performance fool you.Sure, Regeneron's growth has been stymied by a sharp decline in demand for COVID-19 antibody therapy Ronapreve. However, excluding Ronapreve, the company's revenue jumped 14% year over year in Q4, with especially strong growth for cancer drug Libtayo, cardiovascular drug Praluent, and Zaire ebolavirus treatment Inmazeb.Even better, Regeneron has multiple potential catalysts on the way. One of them is just around the corner. The FDA is expected to make an approval decision by March 31, 2024, on odronextamab in treating relapsed/refractory follicular lymphoma or diffuse large B-cell lymphoma. Another decision should be made only a few months later, with a PDUFA date of June 27, 2024, for Dupixent in treating COPD with type 2 inflammation. Hot on the heels of that news, the FDA should give its verdict on approval of linvoseltamab in treating relapsed/refractor multiple myeloma by Aug. 22, 2024.More good news could be in store for Regeneron over the longer term. The company expects to advance Eylea HD into a pivotal study targeting retinal vein occlusion this summer. Around the same time, it plans to initiate a phase 2 study evaluating semaglutide (which is marketed by Novo Nordisk under the brand names Ozempic, Rybelsus, and Wegovy) in combination with trevogrumab in helping patients lose weight.3. Vertex PharmaceuticalsVertex Pharmaceuticals (NASDAQ: VRTX) has already picked up key FDA and European approvals for Casgevy in treating sickle cell disease and transfusion-dependent beta-thalassemia. The big biotech appears to be in good shape to secure additional regulatory wins relatively soon.The EMA's CHMP recently gave a positive opinion for Vertex's cystic fibrosis (CF) therapy, Kalydeco, in treating infants ages one month and older. Kalydeco is already approved in Europe for treating CF patients ages four months and older. It seems likely that another approval expanding the drug's label could be on the way.Vertex is also preparing to file for approvals in the U.S. and other countries of its newest CF therapy -- a triple combo featuring vanzacaftor, tezacaftor, and deutivacaftor -- in mid-2024. This combo could become the company's most profitable CF therapy yet if approved thanks to its impressive efficacy, convenience of administration, and low royalty burden.That's not all. Vertex is planning to submit for FDA approval of VX-548 within the next few months as well. The non-opioid therapy should have tremendous commercial prospects in alleviating acute pain.Vertex's pipeline features another promising program in pivotal development. Inaxaplin targets APOL1-mediated kidney disease (AMKD), which affects more patients worldwide than CF. There are currently no approved therapies for treating the underlying cause of AMKD.Where to invest $1,000 right nowWhen our analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for two decades, Motley Fool Stock Advisor, has more than tripled the market.*They just revealed what they believe are the 10 best stocks for investors to buy right now… and Vertex Pharmaceuticals made the list -- but there are 9 other stocks you may be overlooking.See the 10 stocks*Stock Advisor returns as of March 8, 2024SVB Financial provides credit and banking services to The Motley Fool. Keith Speights has positions in Vertex Pharmaceuticals. The Motley Fool has positions in and recommends Jefferies Financial Group and Vertex Pharmaceuticals. The Motley Fool recommends Novo Nordisk. The Motley Fool has a disclosure policy.Missed Out on Eli Lilly? 3 Healthcare Stocks With Big Catalysts on the Horizon. was originally published by The Motley Fool

Motley Fool

Missed Out on Eli Lilly? 3 Healthcare Stocks With Big Catalysts on the Horizon.

https://finance.yahoo.com/news/missed-eli-lilly-3-healthcare-105200473.html

3f70caa1-9a4c-3b4f-8df6-f688c987f700

VTR

Host Hotels & Resorts, Inc. HST reported fourth-quarter adjusted funds from operations (AFFO) per share of 44 cents, which was in line with the Zacks Consensus Estimate. Moreover, the figure remained unchanged from the prior-year quarter.Results reflect higher revenues, driven by year-over-year occupancy growth. The lodging real estate investment trust also issued a better-than-anticipated 2024 outlook for AFFO per share.Per James F. Risoleo, president and CEO of the company, “Our results during the quarter were driven by rate increases of 0.4% and continued occupancy improvements at our convention and downtown hotels.”Host Hotels generated total revenues of $1.32 billion, beating the Zacks Consensus Estimate of $1.30 billion. The top line rose 4.8% on a year-over-year basis.In 2023, HST reported AFFO per share of $1.92, up from the prior year’s $1.79. The reported figure was in line with the Zacks Consensus Estimate. Total revenues of $5.31 billion increased 8.2% year over year and beat the consensus mark of $5.29 billion.Behind the HeadlinesHost Hotels’ comparable hotel RevPAR was $202.92 in the reported quarter, climbing 1.5% from the year-ago quarter’s $199.97 and 4.4% from the fourth-quarter 2019 tally of $194.32. The rise was mainly backed by occupancy and rate growth in the quarter. We projected the same to be $205.15.Comparable hotel EBITDA came in at $355 million, falling 5.3% from $375 million reported a year ago. The figure, however, surpassed the fourth-quarter 2019 tally of $337 million.The average room rate of $301.84 in the fourth quarter increased from $300.71 reported in the year-ago quarter. The figure compared favorably with the $256.94 reported in fourth-quarter 2019.The comparable average occupancy percentage in the quarter was 67.2%, up 70 basis points from the prior-year quarter. However, the figure was lower than the comparable average occupancy of 75.6% in fourth-quarter 2019.The room nights for its transient business declined 2.5% year over year. The group business and contract businesses witnessed growth of 4.7% and 11.4%, respectively, from the prior-year period. Host Hotels’ transient, group and contract businesses accounted for roughly 61%, 35% and 4% of its 2023 room sales, respectively.Story continuesBalance Sheet PositionHost Hotels exited the fourth quarter with cash and cash equivalents of $1.14 billion, up from $916 million as of Sep 30, 2023.HST’s liquidity totaled $2.9 billion, including FF&E escrow reserves of $217 million as of Dec 31, 2023. It had $1.5 billion available under the revolver portion of the credit facility as of the same date.During the reported quarter, the company repurchased 1.9 million shares at an average price of $16.50 per share through its common share repurchase program for $31 million.Capital ExpenditureAs of Dec 31, 2023, Host Hotels’ capital expenditure aggregated $646 million. Of this, $195 million was the total return on investment project spend, $274 million was renewal and replacement expenditure, and $177 million was renewal and replacement insurable reconstruction.2024 OutlookHost Hotels issued its outlook for 2024.It projects full-year AFFO to be in the range of $1.92-$2.04. This is higher than the Zacks Consensus Estimate of $1.89.It expects comparable hotel RevPAR to be in the range of $217-$233 million while adjusted EBITDAre is estimated between $1.590 billion and $1.680 billion.For 2024, management anticipates total capital expenditure in the range of $500-$605 million.Host Hotels currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Host Hotels & Resorts, Inc. Price, Consensus and EPS SurpriseHost Hotels & Resorts, Inc. Price, Consensus and EPS SurpriseHost Hotels & Resorts, Inc. price-consensus-eps-surprise-chart | Host Hotels & Resorts, Inc. QuotePerformance of Other REITsVentas, Inc. VTR reported a fourth-quarter 2023 normalized funds from operations (FFO) per share of 76 cents, in line with the Zacks Consensus Estimate. The reported figure increased 4.1% from the prior-year quarter’s tally.Results reflect better-than-anticipated revenues. Also, Ventas’ same-store cash NOI increased year over year on strong performance across the portfolio.Healthpeak Properties, Inc. PEAK reported fourth-quarter 2023 FFO as adjusted per share of 46 cents, beating the Zacks Consensus Estimate by a whisker. The reported figure rose 4.5% year over year.Results reflected better-than-anticipated revenues. Moreover, growth in same-store portfolio cash (adjusted) net operating income was witnessed across the portfolio. The company also issued its 2024 outlook.Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportHost Hotels & Resorts, Inc. (HST) : Free Stock Analysis ReportVentas, Inc. (VTR) : Free Stock Analysis ReportHealthpeak Properties, Inc. (PEAK) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Host Hotels' (HST) Q4 FFO Meets Estimates, Occupancy Up Y/Y

https://finance.yahoo.com/news/host-hotels-hst-q4-ffo-164300747.html

1220ea91-fd1f-3a19-8fd5-04fbf398550c

VTR

Iron Mountain Incorporated IRM reported fourth-quarter adjusted funds from operations (AFFO) per share of $1.11 cents, beating the Zacks Consensus Estimate of $1.05.Iron Mountain’s results reflect solid performances in the storage and service segments and the data-center business. However, higher interest expenses in the quarter created a headwind. The company issued its outlook for 2024.Quarterly total revenues of $1.42 billion lagged the Zacks Consensus Estimate of $1.44 billion.On a year-over-year basis, AFFO per share and total revenues increased 8.8% and 11%, respectively.According to William L. Meaney, president and CEO of Iron Mountain, “We are well positioned to continue our growth trajectory in 2024, which is reflected in our financial guidance for double-digit revenue growth. Our Project Matterhorn initiative is propelling us on our growth journey.”For the full year, IRM reported AFFO per share of $4.12, up from $3.93 reported in 2022. The figure also beat the Zacks Consensus Estimate of $3.95. Revenues of $5.48 billion climbed 7.4% year over year but lagged the consensus mark of $5.50 billion.Behind the HeadlinesStorage rental revenues were $871.4 million in the fourth quarter, up 1.5% year over year. We had estimated quarterly storage rental revenues of $868.8 million.Service revenues increased 3.6% from the prior-year quarter to $548.7 million. Our estimate was pegged at $573.1 million.The Global Data Center business reported revenues of $137.2 million in the fourth quarter, rising 32.2% year over year.The adjusted EBITDA rose 11.3% year over year to $525.2 million. The adjusted EBITDA margin expanded 10 basis points to 37%.However, interest expenses flared up 11% year over year to $151.8 million in the quarter.Balance-Sheet PositionIRM exited the fourth quarter with $222.8 million of cash and cash equivalents, up from $170.5 million as of Sep 30, 2023.Dividend UpdateConcurrently, IRM announced a quarterly cash dividend of 65 cents per share for the first quarter of 2024. The dividend will be paid out on Apr 4, 2024, to its shareholders on record as of Mar 15, 2024.Story continues2024 GuidanceIron Mountain provided its guidance for 2024.It expects AFFO per share of $4.39-$4.51. The Zacks Consensus Estimate for the same is pegged at $4.23, which lies below the company’s guided range.Revenues are estimated to be $6.00-$6.15 billion, while adjusted EBITDA is anticipated to be $2.175-$2.225 billion.Iron Mountain currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Iron Mountain Incorporated Price, Consensus and EPS SurpriseIron Mountain Incorporated Price, Consensus and EPS SurpriseIron Mountain Incorporated price-consensus-eps-surprise-chart | Iron Mountain Incorporated QuotePerformance of Other REITsVentas, Inc. VTR reported a fourth-quarter 2023 normalized funds from operations (FFO) per share of 76 cents, in line with the Zacks Consensus Estimate. The reported figure increased 4.1% from the prior-year quarter’s tally.Results reflect better-than-anticipated revenues. Also, Ventas’ same-store cash NOI increased year over year on strong performance across the portfolio.Healthpeak Properties, Inc. PEAK reported fourth-quarter 2023 FFO as adjusted per share of 46 cents, beating the Zacks Consensus Estimate by a whisker. The reported figure rose 4.5% year over year.Results reflected better-than-anticipated revenues. Moreover, growth in same-store portfolio cash (adjusted) net operating income was witnessed across the portfolio. The company also issued its 2024 outlook.Note: Anything related to earnings presented in this write-up represents funds from operations (FFO) — a widely used metric to gauge the performance of REITs.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportIron Mountain Incorporated (IRM) : Free Stock Analysis ReportVentas, Inc. (VTR) : Free Stock Analysis ReportHealthpeak Properties, Inc. (PEAK) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Iron Mountain's (IRM) Q4 AFFO Beat Estimates, Revenues Rise Y/Y

https://finance.yahoo.com/news/iron-mountains-irm-q4-affo-170600947.html

0f806057-65d7-3a58-9267-24cd4e2f107d

VTR

Enters Into Cooperation Agreement with Land & BuildingsCHICAGO, March 04, 2024--(BUSINESS WIRE)--Ventas, Inc. (NYSE: VTR) today announced that its Board of Directors has appointed Theodore Bigman and Joe V. Rodriguez, Jr. to the Board, effective immediately. In connection with the appointments, which align with Ventas’s ongoing focus on Board refreshment and maintaining strong governance, the Company has entered into a mutual cooperation agreement (the "Cooperation Agreement") with shareholder Land & Buildings Investment Management LLC ("Land & Buildings").Mr. Bigman brings significant investing and capital markets experience, and has served as a private investor and as founder and Chief Investment Officer of Bigman Holdings, his family office, since March 2021. Prior to that, Mr. Bigman held a number of positions at MSIM, an asset management firm and subsidiary of Morgan Stanley, from 1995 to 2021, most recently as Head of Global Listed Real Assets Investing. In connection with his position at MSIM, Mr. Bigman served as a member of the Board of Trust Managers for each of American Industrial Properties REIT, a real estate investment trust, and Grove Property Trust, a real estate investment trust.Mr. Rodriguez is a seasoned real estate investor with 30 years of experience across capital markets, finance and portfolio management. Mr. Rodriguez was a Founding Partner and Chief Investment Officer at Invesco Real Estate and helped scale the firm from $1 billion to more than $90 billion in assets under management. He has served as a Board Advisor to Invesco Office J-REIT and AIM Select Real Estate Income Fund.Debra A. Cafaro, Ventas Chairman and CEO, said, "I am pleased to welcome Ted and Joe to the Board and look forward to working with them to drive value for shareholders. I have great respect for their professional accomplishments and REIT investment experience and am delighted we are adding directors of their caliber to the Board."Story continues"We appreciate the constructive dialogue we have had with a cross-section of shareholders, as we continue to refresh Ventas’s Board to complement our existing skillset, support the Company’s execution of its strategy and enhance value for Ventas shareholders," said Melody Barnes, Chair of the Board’s Nominating, Governance and Corporate Responsibility Committee."Joe and Ted are both accomplished investors who will add important perspectives to the Board as it seeks to drive value for all shareholders," said Jonathan Litt, Founder & CIO, Land & Buildings. "We are confident these appointments will benefit the Company as it executes its strategy, and we would like to thank the Board for its collaborative engagement in reaching this outcome."With Mr. Bigman’s and Mr. Rodriguez’s appointments, the Ventas Board will temporarily expand to 13 directors, 12 of whom are independent and over 50% of whom identify as diverse by gender or ethnicity. The Board is expected to comprise 12 directors following the Annual Meeting. Mr. Bigman will join the Investment Committee of Ventas’s Board and Mr. Rodriguez will join the Nominating, Governance and Corporate Responsibility Committee, effective immediately.In connection with the Cooperation Agreement, Land & Buildings will vote its shares in favor of all of the Board’s director nominees at the 2024 Annual Meeting of Stockholders. Land & Buildings has also agreed to customary standstill, voting and other provisions. The full agreement between Ventas and Land & Buildings will be filed on a Form 8-K with the U.S. Securities and Exchange Commission (the "SEC").In a separate release issued today, Ventas announced additional governance actions.About VentasVentas, Inc. (NYSE: VTR) is a leading S&P 500 real estate investment trust focused on delivering strong, sustainable shareholder returns by enabling exceptional environments that benefit a large and growing aging population. The Company’s growth is fueled by its senior housing communities, which provide valuable services to residents and enable them to thrive in supported environments. Ventas leverages its unmatched operational expertise, data-driven insights from its Ventas Operational InsightsTM platform, extensive relationships and strong financial position to achieve its goal of delivering outsized performance across approximately 1,400 properties. The Ventas portfolio is composed of senior housing communities, outpatient medical buildings, research centers and healthcare facilities in North America and the United Kingdom. The Company benefits from a seasoned team of talented professionals who share a commitment to excellence, integrity and a common purpose of helping people live longer, healthier, happier lives.Forward-Looking StatementsThis communication includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include, among others, statements of expectations, beliefs, future plans and strategies, anticipated results from operations and developments and other matters that are not historical facts. Forward-looking statements include, among other things, statements regarding our and our officers’ intent, belief or expectation as identified by the use of words such as "assume," "may," "will," "project," "expect," "believe," "intend," "anticipate," "seek," "target," "forecast," "plan," "potential," "opportunity," "estimate," "could," "would," "should" and other comparable and derivative terms or the negatives thereof.Forward-looking statements are based on management’s beliefs as well as on a number of assumptions concerning future events. You should not put undue reliance on these forward-looking statements, which are not a guarantee of performance and are subject to a number of uncertainties and other factors that could cause actual events or results to differ materially from those expressed or implied by the forward-looking statements. We do not undertake a duty to update these forward-looking statements, which speak only as of the date on which they are made. We urge you to carefully review the disclosures we make concerning risks and uncertainties that may affect our business and future financial performance, including those made below and in our filings with the Securities and Exchange Commission, such as in the sections titled "Cautionary Statements - Summary Risk Factors," "Risk Factors" and "Management’s Discussion and Analysis of Financial Condition and Results of Operations" in our Annual Report on Form 10-K for the year ended December 31, 2023.Certain factors that could affect our future results and our ability to achieve our stated goals include, but are not limited to: (a) our ability to achieve the anticipated benefits and synergies from, and effectively integrate, our completed or anticipated acquisitions and investments of properties, including our ownership of the properties included in our equitized loan portfolio; (b) our exposure and the exposure of our tenants, managers and borrowers to complex healthcare and other regulation, including evolving laws and regulations regarding data privacy and cybersecurity and environmental matters, and the challenges and expense associated with complying with such regulation; (c) the potential for significant general and commercial claims, legal actions, regulatory proceedings or enforcement actions that could subject us or our tenants, managers or borrowers to increased operating costs, uninsured liabilities, fines or significant operational limitations, including the loss or suspension of or moratoriums on accreditations, licenses or certificates of need, suspension of or nonpayment for new admissions, denial of reimbursement, suspension, decertification or exclusion from federal, state or foreign healthcare programs or the closure of facilities or communities; (d) the impact of market and general economic conditions on us, our tenants, managers and borrowers and in areas in which our properties are geographically concentrated, including macroeconomic trends and financial market events, such as bank failures and other events affecting financial institutions, market volatility, increases in inflation, changes in or elevated interest and exchange rates, tightening of lending standards and reduced availability of credit or capital, geopolitical conditions, supply chain pressures, rising labor costs and historically low unemployment, events that affect consumer confidence, our occupancy rates and resident fee revenues, and the actual and perceived state of the real estate markets, labor markets and public and private capital markets; (e) our reliance and the reliance of our tenants, managers and borrowers on the financial, credit and capital markets and the risk that those markets may be disrupted or become constrained, including as a result of bank failures or concerns or rumors about such events, tightening of lending standards and reduced availability of credit or capital; (f) the secondary and tertiary effects of the COVID-19 pandemic on our business, financial condition and results of operations and the implementation and impact of regulations related to the CARES Act and other stimulus legislation, including the risk that some or all of the CARES Act or other COVID-19 relief payments we or our tenants, managers or borrowers received could be recouped; (g) our ability, and the ability of our tenants, managers and borrowers, to navigate the trends impacting our or their businesses and the industries in which we or they operate, and the financial condition or business prospect of our tenants, managers and borrowers; (h) the risk of bankruptcy, inability to obtain benefits from governmental programs, insolvency or financial deterioration of our tenants, managers, borrowers and other obligors which may, among other things, have an adverse impact on the ability of such parties to make payments or meet their other obligations to us, which could have an adverse impact on our results of operations and financial condition; (i) the risk that the borrowers under our loans or other investments default or that, to the extent we are able to foreclose or otherwise acquire the collateral securing our loans or other investments, we will be required to incur additional expense or indebtedness in connection therewith, that the assets will underperform expectations or that we may not be able to subsequently dispose of all or part of such assets on favorable terms; (j) our current and future amount of outstanding indebtedness, and our ability to access capital and to incur additional debt which is subject to our compliance with covenants in instruments governing our and our subsidiaries’ existing indebtedness; (k) the recognition of reserves, allowances, credit losses or impairment charges are inherently uncertain, may increase or decrease in the future and may not represent or reflect the ultimate value of, or loss that we ultimately realize with respect to, the relevant assets, which could have an adverse impact on our results of operations and financial condition; (l) the non-renewal of any leases or management agreement or defaults by tenants or managers thereunder and the risk of our inability to replace those tenants or managers on a timely basis or on favorable terms, if at all; (m) our ability to identify and consummate future investments in or dispositions of healthcare assets and effectively manage our portfolio opportunities and our investments in co-investment vehicles, joint ventures and minority interests, including our ability to dispose of such assets on favorable terms as a result of rights of first offer or rights of first refusal in favor of third parties; (n) risks related to development, redevelopment and construction projects, including costs associated with inflation, rising or elevated interest rates, labor conditions and supply chain pressures, and risks related to increased construction and development in markets in which our properties are located, including adverse effect on our future occupancy rates; (o) our ability to attract and retain talented employees; (p) the limitations and significant requirements imposed upon our business as a result of our status as a REIT and the adverse consequences (including the possible loss of our status as a REIT) that would result if we are not able to comply with such requirements; (q) the ownership limits contained in our certificate of incorporation with respect to our capital stock in order to preserve our qualification as a REIT, which may delay, defer or prevent a change of control of our company; (r) the risk of changes in healthcare law or regulation or in tax laws, guidance and interpretations, particularly as applied to REITs, that could adversely affect us or our tenants, managers or borrowers; (s) increases in our borrowing costs as a result of becoming more leveraged, including in connection with acquisitions or other investment activity and rising or elevated interest rates; (t) our reliance on third-party managers and tenants to operate or exert substantial control over properties they manage for or rent from us, which limits our control and influence over such operations and results; (u) our exposure to various operational risks, liabilities and claims from our operating assets; (v) our dependency on a limited number of tenants and managers for a significant portion of our revenues and operating income; (w) our exposure to particular risks due to our specific asset classes and operating markets, such as adverse changes affecting our specific asset classes and the real estate industry, the competitiveness or financial viability of hospitals on or near the campuses where our outpatient medical buildings are located, our relationships with universities, the level of expense and uncertainty of our research tenants, and the limitation of our uses of some properties we own that are subject to ground lease, air rights or other restrictive agreements; (x) the risk of damage to our reputation; (y) the availability, adequacy and pricing of insurance coverage provided by our policies and policies maintained by our tenants, managers or other counterparties; (z) the risk of exposure to unknown liabilities from our investments in properties or businesses; (aa) the occurrence of cybersecurity threats and incidents that could disrupt our or our tenants’, managers’ or borrower’s operations, result in the loss of confidential or personal information or damage our business relationships and reputation; (bb) the failure to maintain effective internal controls, which could harm our business, results of operations and financial condition; (cc) the impact of merger, acquisition and investment activity in the healthcare industry or otherwise affecting our tenants, managers or borrowers; (dd) disruptions to the management and operations of our business and the uncertainties caused by activist investors; (ee) the risk of catastrophic or extreme weather and other natural events and the physical effects of climate change; (ff) the risk of potential dilution resulting from future sales or issuances of our equity securities; and (gg) the other factors set forth in our periodic filings with the Securities and Exchange Commission.View source version on businesswire.com: https://www.businesswire.com/news/home/20240304442856/en/ContactsInvestors BJ Grant(877) 4-VENTASMedia Andrew Siegel / Joseph Sala / Greg KlassenJoele Frank, Wilkinson Brimmer Katcher(212) 355-4449

Business Wire

Ventas Appoints Theodore Bigman and Joe V. Rodriguez, Jr. to Board of Directors

https://finance.yahoo.com/news/ventas-appoints-theodore-bigman-joe-130300976.html

e4e1a80e-ce94-3919-bb28-e31911fe1a91

VTR

Ventas CEO, Debbie Cafaro, says there are definitely tightening financial conditions because of commercial real estate loans in the financial sector, but Ventas is using it as an opportunity, and goes on to say Ventas has a lot of access to capital, which helps be effective in senior housing business. She speaks with Sonali Basak on "Real Yield."

Bloomberg

We Have a Lot of Access to Capital: Ventas CEO

https://finance.yahoo.com/video/lot-access-capital-ventas-ceo-201847575.html

d8cb072c-1b8e-3ccf-913c-18c86a72f5f4

VTRS

Wall Street analysts forecast that Viatris (VTRS) will report quarterly earnings of $0.67 per share in its upcoming release, pointing to a year-over-year decline of 2.9%. It is anticipated that revenues will amount to $3.92 billion, exhibiting an increase of 1% compared to the year-ago quarter.Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.In light of this perspective, let's dive into the average estimates of certain Viatris metrics that are commonly tracked and forecasted by Wall Street analysts.Analysts predict that the 'Net Sales- Developed Markets' will reach $2.40 billion. The estimate points to a change of +0.9% from the year-ago quarter.It is projected by analysts that the 'Net Sales- JANZ' will reach $350.05 million. The estimate indicates a year-over-year change of -12.2%.The collective assessment of analysts points to an estimated 'Net Sales- Developed Markets- Brands' of $1.33 billion. The estimate indicates a change of +8.6% from the prior-year quarter.According to the collective judgment of analysts, 'Net Sales- Developed Markets- Complex Generics & Biosimilars' should come in at $183.96 million. The estimate indicates a year-over-year change of -20.7%.Story continuesThe average prediction of analysts places 'Other revenues' at $8.50 million. The estimate points to a change of -4.5% from the year-ago quarter.The combined assessment of analysts suggests that 'Net Sales- JANZ- Brands' will likely reach $190.13 million. The estimate indicates a change of -13.2% from the prior-year quarter.Based on the collective assessment of analysts, 'Net Sales- JANZ- Complex Generics & Biosimilars' should arrive at $7.15 million. The estimate points to a change of -33.8% from the year-ago quarter.The consensus among analysts is that 'Net Sales- JANZ- Generics' will reach $152.78 million. The estimate suggests a change of -9.5% year over year.Analysts expect 'Total Net Sales' to come in at $3.91 billion. The estimate indicates a change of +1% from the prior-year quarter.Analysts forecast 'Net Sales- Developed Markets- Generics' to reach $885.38 million. The estimate points to a change of -3.9% from the year-ago quarter.View all Key Company Metrics for Viatris here>>>Over the past month, shares of Viatris have returned +13.8% versus the Zacks S&P 500 composite's +5% change. Currently, VTRS carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportViatris Inc. (VTRS) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Insights Into Viatris (VTRS) Q4: Wall Street Projections for Key Metrics

https://finance.yahoo.com/news/insights-viatris-vtrs-q4-wall-141525130.html

5e004d17-703e-350f-9ee9-fdedf804c3b5

VTRS

Viatris VTRS, a global healthcare company, is scheduled to report fourth-quarter results on Feb 28, 2024.The company’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 6.02%. In the last reported quarter, the company delivered an average surprise of 5.41%.Viatris Inc. Price, Consensus and EPS Surprise Viatris Inc. Price, Consensus and EPS SurpriseViatris Inc. price-consensus-eps-surprise-chart | Viatris Inc. QuoteFactors to ConsiderViatris reports segmental results based on markets and geography — Developed Markets, Emerging Markets, Japan, Australia and New Zealand (JANZ) and Greater China.The negative impact of foreign exchange rates is likely to have affected the fourth-quarter top line.Solid performance of generics in Europe and strong demand for Yupelri are likely to have driven sales in Developed Markets. The generics portfolio delivered better-than-expected results, driven by new launches such as Breyna, the generic for Symbicort, lisdexamfetamine (Vyvanse generic) and the continued contribution of lenalidomide in the previous quarter. The momentum is likely to have continued in the to-be-reported quarter.The Zacks Consensus Estimate for revenues from this geography is pinned at $2.4 billion.Sales from Emerging Markets are likely to have increased on the strength of generics and branded drugs like Lyrica, Zoloft and Effexor. The Zacks Consensus Estimate for revenues from Emerging Markets is pegged at $686 million.In the JANZ region, the brands performed in line with management’s expectations, while generics were slightly below the same, primarily due to customer buying patterns in the previous quarter. The performance has likely improved in the fourth quarter.  The Zacks Consensus Estimate for revenues from JANZ markets is pinned at $350 million.Sales from Greater China markets are also likely to have increased, primarily due to retail-driven products. The Zacks Consensus Estimate for revenues from this geography is pegged at $568 million.Story continuesOn the third quarter’s call, Viatris stated that it remains on track to deliver approximately $450-$500 million of new product revenues in 2023.VTRS completed the acquisitions of Oyster Point Pharma and Famy Life Sciences to establish a new division, Viatris Eye Care. Tyrvayas' launch continues to progress as expected by management. Incremental revenues from this division are likely to have boosted the top line in the fourth quarter.Per management, the gross margin is likely to have been negatively impacted due to portfolio and segmental mix and anticipated higher costs. SG&A and R&D expenses, too, are likely to have risen during the quarter.Recent UpdatesViatris had earlier announced agreements on planned divestitures to simplify the organization.The company will divest its Over-the-Counter (OTC) business for $2.17 billion. Viatris has, however, decided to retain its rights for Viagra and Dymista, as well as other select OTC assets within certain markets.Viatris has also entered into definitive agreements to divest its Women's Healthcare business. It will also divest its Active Pharmaceutical Ingredients business in India.  VTRS entered into an agreement to divest its rights to women's healthcare products, Duphaston and Femoston, to Theramex.It has also signed agreements to divest its commercialization rights in certain non-core markets that were acquired as part of the Upjohn Transaction. VTRS expects to close these transactions by the end of the first half of 2024.Share Price PerformanceViatris’ shares have risen 15.8% in the past year against the industry’s decline of 2.7%.Zacks Investment ResearchImage Source: Zacks Investment ResearchWhat Our Model PredictsOur proven model predicts an earnings beat for Viatris this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.Earnings ESP: VTRS has an Earnings ESP of 0.0% as both the Zacks Consensus Estimate and the Most Accurate Estimate are pinned at 67 cents. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.Zacks Rank: The company currently carries a Zacks Rank #3.Other Stocks to ConsiderHere are some other drug and biotech stocks that you may want to consider, as our model shows that these too have the right combination of elements to post an earnings beat this reporting cycle.Apellis Pharmaceuticals APLS has an Earnings ESP of +28.35% and a Zacks Rank #2 at present.APLS beat on earnings in two of the trailing four quarters and missed in the other two, delivering an average negative surprise of 3.91%. APLS is scheduled to release fourth-quarter 2023 results on Feb 27. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Esperion Therapeutics ESPR has an Earnings ESP of +24.53% and a Zacks Rank #2 at present. ESPR is scheduled to release fourth-quarter 2023 results on Feb 27.ESPR beat on earnings in three of the trailing four quarters and missed in one, delivering an average surprise of 7.50%.Celldex Therapeutics CLDX has an Earnings ESP of +9.45% and a Zacks Rank #3 at present.CLDX beat on earnings in two of the trailing four quarters, met in one and missed in the other one, delivering a negative surprise of 3.56%.Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportCelldex Therapeutics, Inc. (CLDX) : Free Stock Analysis ReportEsperion Therapeutics, Inc. (ESPR) : Free Stock Analysis ReportApellis Pharmaceuticals, Inc. (APLS) : Free Stock Analysis ReportViatris Inc. (VTRS) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Viatris (VTRS) to Report Q4 Earnings: Is a Beat in Store?

https://finance.yahoo.com/news/viatris-vtrs-report-q4-earnings-165400284.html

40a59df3-fb7d-3ccd-a15c-5955a2c7d5f2

VTRS

(Adds Viatris' comment in paragraph 7)March 11 (Reuters) - The U.S. FDA has declined to approve Viatris and Mapi Pharma's once-a-month injection for treating relapsing forms of debilitating neurological condition multiple sclerosis (MS), the companies said on Monday.The companies were reviewing the content of the health regulator's so called complete response letter (CRL) and would soon determine the appropriate next steps, they said, without disclosing further details.Mapi Pharma did not immediately respond to Reuters requests for additional details on the contents of the CRL, which indicates that an application would not be approved in its present form and requires more information.The companies were seeking the FDA's nod for GA Depot, a long-acting version of glatiramer acetate, which is approved for relapsing forms of MS.GA Depot was being studied to be administered as an intramuscular injection once every four weeks, where as Teva Pharmaceutical Industries' glatiramer acetate injection, Copaxone, is given thrice a week.Viatris acquired the commercialization rights to GA Depot through its exclusive license agreement with Mapi Pharma in 2018.The receipt of the FDA's letter would not impact Viatris' 2024 forecast or its new product revenue range of $450 million to $550 million, the company said.In MS, the immune system attacks brain cells, causing motor disabilities. It affects about 400,000 people in the United States, according to the National Institutes of Health.Relapsing MS is a type of the disease where the symptoms appear sporadically, in the form of attacks. This is followed by a period of disease inactivity and weeks, months, or even years may pass before another attack occurs. (Reporting by Sriparna Roy and Sneha S K in Bengaluru; Editing by Pooja Desai and Shinjini Ganguli)

Reuters

UPDATE 2-US FDA declines to approve Viatris's injection for multiple sclerosis

https://finance.yahoo.com/news/1-us-fda-declines-approve-112415638.html

1dff4eda-16a6-3352-937f-35ad67526127

VTRS

Dividend stocks are great for several reasons. Some use the regular payouts they offer to complement their income, whether in retirement or otherwise, while others reinvest the money to boost long-term returns. Dividend stocks have generally outperformed their non-dividend-paying peers over long periods.Clearly, this mode of investing has advantages, but if there's one thing better than investing in dividend stocks, it's investing in cheap dividend stocks. Let's consider two companies that fit the bill: Pfizer (NYSE: PFE) and Viatris (NASDAQ: VTRS).1. PfizerLast year, Pfizer's revenue dropped by 42% year over year to $58.5 billion. The decline was due to the receding pandemic. Demand for Pfizer's COVID-19 vaccine, Comirnaty, and its related medicine, Paxlovid, dropped off a cliff. Still, the drugmaker's current slump won't last forever.Pfizer already has a plan to turn over a new leaf. Last year, it earned approval in the U.S. for seven brand-new products, more than double any of its competitors' total for 2023.These products will eventually help Pfizer's revenue start moving in the right direction.It's also worth noting that Pfizer's underlying business, excluding its coronavirus portfolio, isn't performing that badly: Revenue increased by a solid 7% year over year in 2023. Pfizer's decision to join the COVID-19 market has been a net positive despite its current declining top-line. It became the company in the pharmaceutical industry to hit $100 billion in sales in 2023 thanks to it. The money it generated allowed it to invest in the future.Pfizer made important acquisitions, including that of cancer specialist Seagen, for $43 billion. Seagen was already a successful oncology-focused biotech before having access to the kinds of funds Pfizer has. The newly formed entity under Pfizer should speed up innovation compared with what it would have been able to accomplish by itself. Pfizer plans on increasing the number of blockbuster cancer medicines in its portfolio to eight by 2030, up from five today.Story continuesOf course, Pfizer is also active in many other areas, from immunology to infectious diseases. It's developing an influenza vaccine to help address the low efficacy of currently available options. The drugmaker is also working on a combined COVID/flu vaccine. Both are in late-stage studies. Pfizer boasts 112 candidates in its pipeline. The company should significantly improve its lineup in the next few years, even more than it already has.As for the dividend, the company has increased its payouts by just under 17% in the past five years. It offers a forward dividend yield of 6.18%. Lastly, Pfizer's forward price-to-earnings (P/E) ratio is just 12, compared with a forward P/E of 18.4 for the pharmaceutical industry. So Pfizer looks like an attractively valued dividend stock by this popular metric.2. ViatrisViatris hasn't been a standalone, publicly traded corporation for very long. The company was created when Pfizer's former subsidiary, off-patent drug specialist Upjohn, merged with the corporation then known as Mylan N.V., which focused on developing and marketing generic drugs, back in late 2020.The company's position in the market for generic and branded pharmaceutical products is enviable. It owns several popular brands that should continue attracting customers for a long time. These include Viagra, Xanax, Lipitor, and more. This business creates a somewhat stable source of revenue for the company.Viatris has also significantly changed its operations recently by shedding lower-growth opportunity segments. For instance, it got rid of its biosimilar and women's healthcare units. Besides cutting off low-growth opportunities, Viatris planned to pay off debt while investing in more potentially lucrative avenues.The company created a new eye care division through acquisitions and announced a research and development partnership with Switzerland-based pharmaceutical company Idorsia. Viatris added two potential blockbuster candidates to its late-stage pipeline through the Idorsia deal, while it expects its new eye care unit to add more than $1 billion in annual sales by 2028.Viatris has struggled with top-line growth. Last year, its net sales of $15.4 billion remained flat on an adjusted basis (that is, taking into account acquisitions and divestitures). However, thanks to recent business changes, the company could make significant progress on that front in the years ahead. Meanwhile, Viatris offers a forward yield of 3.89%, though it has increased its dividend just once since it became a standalone company.Viatris' forward P/E ratio of 4.4 looks more than reasonable. For income seekers willing to stay the course for a while, Viatris looks like a good option.Should you invest $1,000 in Pfizer right now?Before you buy stock in Pfizer, consider this:The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Pfizer wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.Stock Advisor provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month. The Stock Advisor service has more than tripled the return of S&P 500 since 2002*.See the 10 stocks*Stock Advisor returns as of March 8, 2024Prosper Junior Bakiny has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Pfizer. The Motley Fool recommends Viatris. The Motley Fool has a disclosure policy.2 Dirt Cheap Dividend Stocks to Buy and Hold was originally published by The Motley Fool

Motley Fool

2 Dirt Cheap Dividend Stocks to Buy and Hold

https://finance.yahoo.com/news/2-dirt-cheap-dividend-stocks-134500534.html

0efddf7b-4f2e-3bc7-a5c1-2dedb5bdbcc4