Nigeria $17 Billion Pension Industry Eyes Investment Flexibility
Firms that oversee 26.4 trillion naira ($17 billion) in retirement funding want to allocate money to areas such as export-oriented businesses, toll roads, real estate and high-growth unlisted companies, Access ARM Pensions Chief Executive Officer Dave Uduanu said in an interview.
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Philip Morris (PM) Up 5% Since Last Earnings Report: Can It Continue?
A month has gone by since the last earnings report for Philip Morris (PM). Shares have added about 5% in that time frame, outperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is Philip Morris due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the latest earnings report in order to get a better handle on the important catalysts. Philip Morris Q2 Earnings Beat Estimates, FY25 EPS View Raised Philip Morris International reported second-quarter 2025 results, with both top and bottom lines increasing year over year. Net sales missed the Zacks Consensus Estimate, while earnings beat the same. Second-quarter adjusted earnings were $1.91, which increased 20.1% year over year. Excluding currency effects, the adjusted EPS jumped 18.9%. The bottom line beat the Zacks Consensus Estimate of $1.85. Net revenues of $10,140 million increased 7.1% on a reported basis and 6.8% on an organic basis. Revenues missed the Zacks Consensus Estimate of $10,255 million. The increase in organic revenues was backed by positive pricing variance (mainly driven by elevated combustible tobacco pricing) and favorable volume/mix (attributable to increased smoke-free product volumes), partially offset by lower cigarette volumes and an unfavorable cigarette mix. Philip Morris' Quarterly Performance: Key Metrics and Insights During the second quarter, Philip Morris' net revenues from combustible products grew 2.1% year over year and increased 2% organically, despite a return to expected volume declines. Growth was driven by continued strong pricing, partially offset by unfavorable mix dynamics. Revenues from the smoke-free business increased 15.2% (up 14.5% on an organic basis) and formed 41% of the company's total revenues. Within the smoke-free business, inhalable smoke-free products ('SFP') were driven by strength in IQOS, while oral SFP was fueled by increased shipment volumes of ZYN. Total shipment volumes (including heated tobacco units, oral SFP and cigarettes) increased 1.2% to 200.1 billion units in the second quarter. The adjusted operating income ascended 16.1% (up 14.9% on an organic basis) to $4,246 million, driven by improved pricing variance and a positive volume/mix, somewhat negated by increased marketing, administration and research costs. Decoding Philip Morris' Region-Wise Performance Following the sale of Vectura Group Ltd. on Dec. 31, 2024, the company revised its segment reporting to integrate ongoing Wellness and Healthcare results into the Europe segment. Its second-quarter 2025 financial results reflect this updated segment structure. Net revenues in the European region grew 8.7% (up 7.3%) on an organic basis to $4,234 million. This was a result of positive pricing variance and favorable volume/mix. Total HTU and cigarette shipment volumes in the region decreased 2.4% to 55.1 billion units. In the SSEA, CIS & MEA regions, net revenues increased 5.6% (up 4.9% organically) to $2,926 million on improved pricing variance and favorable volume. Total cigarette and HTU shipment volume in the region rose 1.1% to 95.3 billion units. In the EA, AU & PMI GTR regions, net revenues grew 2.1% (up 1.6% organically) to $1,708 million on favorable volume/mix. Total cigarette and HTU shipment volume in the region rose 3.6% to 28.3 billion units. Revenues in the Americas rose 12.7% (up 17% on an organic basis) to $1,272 million. This was a result of the positive volume/mix and predominantly driven by nicotine pouches in the United States. Total cigarette and HTU shipment volumes in the Americas increased 1.6% to 15.3 billion units. Philip Morris: Other Updates The company ended the quarter with cash and cash equivalents of $4,138 million, long-term debt of $42,431million and a total shareholder deficit of $10,012 million. Philip Morris announced its quarterly dividend of $1.35 per share ($5.40 on an annualized basis). However, the company stated that it would not make share repurchases in 2025. Here's What to Expect From Philip Morris in 2025 Adjusted EPS for 2025 is now envisioned in the $7.43-$7.56 range, indicating 13-15% growth. Earlier, the metric was expected in the $7.36-$7.49 per share range, implying 12-14% growth. Adjusted EPS, excluding currency, is likely to be in the $7.33-$7.46 band, indicating a year-over-year increase of 11.5-13.5%. For full-year 2025, PM expects reported EPS in the band of $7.24-$7.37 compared with $4.52 in 2024. The total international industry volume for cigarettes and HTUs (excluding China and the United States) is likely to decline nearly 1% in 2025. The total cigarette and smoke-free product shipment volume for Philip Morris is expected around 1%, driven by a smoke-free product volume increase of 12-14%, partly offset by cigarette volume declines, which are now forecasted to be around 2%. Nicotine pouch shipment volumes in the United States are expected to be between 800 million and 840 million cans for 2025. For 2025, PM expects net revenues to increase 6-8% on an organic basis. The operating income on an organic basis is likely to rise 11-12.5%. Management expects an operating cash flow of more than $11.5 billion in 2025. Capital expenditures are likely to be nearly $1.6 billion, primarily implying investments to support the smoke-free business. For the third quarter of 2025, Philip Morris envisions adjusted EPS in the range of $2.08-$2.13, including a projected favorable currency impact of 5 cents. How Have Estimates Been Moving Since Then? Since the earnings release, investors have witnessed a downward trend in estimates revision. VGM Scores Currently, Philip Morris has a great Growth Score of A, though it is lagging a lot on the Momentum Score front with a D. Following the exact same course, the stock has a score of D on the value side, putting it in the bottom 40% for this investment strategy. Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in. Outlook Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Interestingly, Philip Morris 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 report Philip Morris International Inc. (PM) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Why Is Valmont (VMI) Up 1.6% Since Last Earnings Report?
It has been about a month since the last earnings report for Valmont Industries (VMI). Shares have added about 1.6% in that time frame, outperforming the S&P 500. But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Valmont 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 latest earnings report in order to get a better handle on the important drivers. Valmont Beats Q2 Earnings and Sales Estimates, Raises EPS Outlook Valmont reported a second-quarter 2025 profit (as adjusted) of $97.2 million or $4.88 per share compared with $99.7 million or $4.91 in the year-ago quarter. However, the bottom line beat the Zacks Consensus Estimate of $ company's revenues were $1,050.5 million in the quarter, up 1% year over year. The top line also outpaced the Zacks Consensus Estimate of $1,038.8 million. Segment Review Second-quarter revenues in the infrastructure segment increased marginally from the previous year, totaling $763.1 million. The figure lagged our estimate of $767.1 million. Utility sales grew owing to higher volumes and favorable pricing. Telecommunications sales rose, owing to strategic positioning within carrier capex spending plans, whereas Solar sales declined drastically on lower volumes. Lighting, Transportation and Coatings sales declined mainly due to weaker demand in international segment revenues totaled $287.5 million, up 2.9% year over year. The matric beat our estimate of $269.8 million. International sales grew strongly, especially in the EMEA region and Brazil, where the market conditions have started to improve. Irrigation equipment sales in North America fell because there were fewer storm-related replacement sales than last year and the agriculture market remained weak. Financials The company's operating cash flows totaled $232.7 million for 26 weeks ended June 28, 2025. At the end of the second quarter, cash and cash equivalents were $208.5 million. Valmont returned $113.6 million to its shareholders through share repurchases and dividends during the second quarter. The company invested $32 million as capital expenditure for its growth initiatives. 2025 Outlook Updated Valmont expects net sales to be between $4 billion and $4.2 billion. Adjusted earnings per share are now expected to be between $17.50 and $19.50, up from previous guidance of $17.20 to $18.80, factoring in the impacts of the realignment actions completed in the second quarter. It anticipates capital expenditures in the $140-$160 million range. The effective tax rate is expected to be around 26%. How Have Estimates Been Moving Since Then? In the past month, investors have witnessed a upward trend in fresh estimates. VGM Scores At this time, Valmont has a great Growth Score of A, though it is lagging a lot on the Momentum Score front with a C. Charting a somewhat similar path, the stock has a score of B on the value side, putting it in the top 40% for value investors. Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in. Outlook Estimates have been trending upward for the stock, and the magnitude of these revisions looks promising. It comes with little surprise Valmont has a Zacks Rank #2 (Buy). We expect an above 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 report Valmont Industries, Inc. (VMI) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Why Is Pentair (PNR) Up 1.4% Since Last Earnings Report?
It has been about a month since the last earnings report for Pentair plc (PNR). Shares have added about 1.4% in that time frame, outperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is Pentair due for a pullback? 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. Pentair Surpasses Q2 Earnings Estimates, Raises 2025 Guidance Pentair posted adjusted earnings per share (EPS) of $1.39 for the second quarter of 2025, which beat the Zacks Consensus Estimate of $1.33 by a margin of 4.5%. The bottom line also topped its guidance of $1.31-$1.35 and marked a 14% improvement from the prior-year quarter. Including one-time items, EPS was 90 cents compared with the prior-year quarter's $1.11. Pentair Delivers Higher Sales & Adjusted Operating Margin Net sales rose 2% year over year to $1.123 billion. The top line surpassed the Zacks Consensus Estimate of $1.115 billion. Excluding the impacts of acquisitions, divestitures and currency translation, core sales were up 1%. The cost of sales inched up 0.8% year over year to $667 million. The gross profit was $457 million, up 4.3% from the prior-year quarter. The gross margin was 40.7% compared with the year-ago quarter's 39.8%. SG&A expenses totaled $214 million, up 29.5% from the prior-year quarter's $165 million. Research and development expenses were up 1% year over year to $25 million. The operating income, including one-time items, was $217.7 million, down 12% from the year-ago quarter. Operating margin was 19.4% compared with 22.6% in the year-ago quarter. The adjusted segment operating income increased 9% year over year to $296.7 million. The adjusted segment operating margin was 26.4%, a 170-basis point expansion from the year-ago quarter. PNR's Segment Performances in Q2 Net sales in the Flow segment totaled $397 million, flat compared with the prior-year quarter. Operating earnings for the segment rose 10% year over year to $93 million. Net sales in the Water Solutions segment were down 4% year over year to $298 million. The segment's earnings declined 3% to $70 million and missed our projection of $73 million. Net sales in the Pool segment totaled $427 million, up 9% year over year. Operating earnings for the segment grew 14.3% year over year to $152.7 million. Pentair's Cash Flow & Balance Sheet Updates at Q2-End Pentair had cash and cash equivalents of around $143 million at the end of the second quarter of 2025 compared with $119 million at 2024-end. Net cash generated from operating activities was $568 million in the first half of 2025 compared with $432 million in the prior-year comparable period. The company had a long-term debt of $1.39 billion as of June 30, 2025, down from $1.64 billion as of Dec. 31, 2024. Pentair had hiked its dividend by 9% to 25 cents per share earlier this year. This marked the 49th consecutive year that the company has increased its dividend. Pentair has repurchased 1.3 million of its shares for $125 million so far in 2025. As of June 30, 2025, the company had $325 million available under its share repurchase authorization. PNR's Guidance for Q3 & 2025 Backed by the upbeat performance so far this year, Pentair expects adjusted EPS to be in the range of $4.75- $4.85 for 2025, higher than its previous guidance of $4.65-$4.80. The mid-point of the range indicates year-over-year growth of 9.1%. The company has also raised its year-over-year reported sales growth guidance to 1-2% for 2025. Earlier, sales were expected to be flat or increase 2% on a reported basis from the 2024 level. For the third quarter, the company expects an adjusted EPS between $1.16 and $1.20, implying an 8% rise at the midpoint. Pentair anticipates the quarter's sales to be flat to up 1% from the year-ago quarter's figure. How Have Estimates Been Moving Since Then? Since the earnings release, investors have witnessed a upward trend in estimates review. VGM Scores Currently, Pentair has a great Growth Score of A, though it is lagging a bit on the Momentum Score front with a B. Charting a somewhat similar path, the stock has a grade of C on the value side, putting it in the middle 20% for value investors. Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in. Outlook Estimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Interestingly, Pentair 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 report Pentair plc (PNR) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
