Friday, October 28, 2022
Laser-Focused On Dividends -- ABBV Increased Its Quarterly Dividend From $1.41 To $1.48 -- October 28, 2022
Nice.
- AbbVie Inc reported Q3 adjusted EPS of $3.66, up 29.3% Y/Y and beating the consensus of $3.59.
- Overall sales increased 3.3% Y/Y (5.4% on an operational basis) to $14.81 billion, missing the consensus of $14.96 billion.
- The immunology portfolio generated $7.65 billion in sales, +14.6% (+16.4% on an operational basis). Humira sales increased 2.5% to $5.56 billion. Skyrizi sales reached $1.39 billion (+75.4% Y/Y), and Rinvoq jumped 53.5% to $695 million.
- Hematologic oncology portfolio sales were $1.65 billion, down 11.7% (-9.9% on an operational basis). Imbruvica sales decreased 17.4% to $1.34 billion. Venclexta revenues were up 4.5% to $515 million.
- Sales from the neuroscience portfolio reached $1.67 billion, +6.7%. Aesthetics portfolio sales increased 4% (+8.1% on an operational basis) to $1.30 billion, with $637 million in Botox sales for cosmetic uses.
- Dividend: AbbVie increased the quarterly dividend by 5% from $1.41 per share to $1.48 per share.
- Guidance: AbbVie confirms FY22 adjusted EPS guidance and narrows the range from $13.76 - $13.96 to $13.84 - $13.88, compared to the consensus of $13.86.
JNJ is in the process of doing what Abbott/Abbvie did in 2013.
Can't recall if I see Rinvoq ads but I see Skyrizi "everywhere" on Hulu.
Years ago I was told "a billion dollars in sales for a pharmaceutical product" is equivalent to a "ten-bagger" for investors.
Geoff Simon's Quick Connects -- October 28, 2022
• Lower taxes anticipated for ND drillers as oil prices falls below 'trigger' -- KFYR - TV
• More EPA regulations could strain North Dakota's power grid -- The Center Square
• Summit Carbon Solutions secures easements for pipeline -- Red River Farm Network
• Native Americans, white farmers form unlikely alliance opposing a pipeline in the Dakotas -- NBC News
• State leaders to discuss building of Badger Wind Farm around Wishek -- KX News
• MDU bumps up natural gas prices, predicts $150 increase for customers this season -- KFYR - TV
• Two men involved in McKenzie County oil theft waive Thursday's pretrial hearings -- KFYR - TV
• North Dakota has 2nd best unemployment rate change during month of September -- KX News
• Thanks to Republican leadership, falling oil prices won't trigger a budget crisis -- Dickinson Press
• Congressman Kelly Armstrong: Energy industry needs to fight right -- Minot Daily News
• North Dakota State Investment Board hiring firms that want to eliminate fossil fuels -- KX News
• North Dakota lawmakers, interest groups speak out against term limits measure -- Dickinson Press
• Diverse group denounces term limits, urge voters to vote down Measure 1 -- Minot Daily News
• ND Lawmakers: Term limit defeat has a chance with support of dozens of groups -- Bismarck Tribune
• In first debate, ND Senate candidates spar on farm policy, energy, abortion, Ukraine -- Fargo Forum
• US Senate candidate Rick Becker wants to change government spending habits -- Minot Daily News
• Democratic candidate for state ag commissioner claims 'no chance' of winning -- Dickinson Press
• Wrigley, Lamb offer different visions of qualifications for attorney general's role -- Dickinson Press
• Quarterly financial reports from statewide candidates show big advantage for incumbents -- KFYR - TV
• Poll workers can't legally ask voters to prove citizenship, ND attorney general says -- Dickinson Press
• Auditor: North Dakota election systems are 'incredibly secure' -- Bismarck Tribune
• Election fairness issues loom large in North Dakota secretary of state race -- Bismarck Tribune
• Senator Rich Wardner honored for community service and legislative support -- Dickinson Press
• Ward County voters will choose two county commissioners in November election -- Minot Daily News
• Candidates seeking Minot City Council seat bring different approaches to city gov't -- Minot Daily News
• Rural communities across North Dakota desperately seeking workers -- Williston Herald
• ND Supreme Court Chief Justice makes pitch in Crosby for judicial system overhaul -- The Journal
• Winter weather could signal complications for northeast Tioga street work -- Tioga Tribune
• First snow of the year keeps public works, tow companies busy in western ND -- KFYR - TV
• October snowfall in Dickinson "uncommon" National Weather Service says -- Dickinson Press
• Women in Leadership Expo comes to Williston, attendees mental health first aid certified -- KX News
• Bicker Township approves zoning amendments needed for new wind farm -- Tioga Tribune
• Superintendent Baesler: North Dakota test scores show pandemic impacts -- Bismarck Tribune
• Hundreds at 47th NDCEL conference discuss challenges, new ideas in education -- KFYR - TV
• Tioga schools implement review process for citizens' curriculum concerns -- Tioga Tribune
• ND won't require coronavirus vaccines for school children, says Governor Burgum -- Dickinson Press
• Assessment results show importance of North Dakota teacher support, education aid -- KX News
• North Dakota schools awarded $2.3 million by EPA for clean school buses -- Dickinson Press
• Presidential Awards for Excellence seeking 7-12 grade STEM teacher nominations -- KX News
• ND Health and Human Services receives further grants to aid early childhood intervention -- KX News
• McKenzie County Schools receive Value Driven Award of Excellence -- McKenzie County Farmer
• Higher Ed board urges university presidents to assess workforce retention projects -- Dickinson Press
• Top Democrats urge Biden to nationalize the oil & gas industry -- Michael Shellenberger
• Analysis: Biden's growing EV minerals funding fruitless without permitting reform -- Reuters
• States are vying for federal funding to start 'hydrogen hubs.' What are they? -- Nebraska Examiner
• Gas markets, oil supply cuts have put the world in its 'first truly global energy crisis' -- CNN Business
• Rural backlash against renewables, 67 rejections of solar in past 11 months -- Real Clear Energy
• Biden taps wrong petroleum reserves; should look to TX, NM, ND, OK and AK -- Wall Street Journal
• Bad energy policy ideas never die, better to support American oil and gas -- Real Clear Energy
• Oil producer Hess third quarter profits top Wall Street estimates on stronger energy prices -- Reuters
• Longtime landmark goes down as Xcel Energy implodes generating plant -- West Central Tribune
• Biden demands oil companies help bring relief at the pump, drawing industry criticism -- S&P Global
• Will deregulation California-proof Wyoming electricity providers? -- Cowboy State Daily
• As gas prices reshape midterms, US extremists plot to attack energy infrastructure -- Newsweek
• Judicial Watch sues State Department for John Kerry's travel costs as Climate Envoy -- Judicial Watch
• The world is transitioning to fossil fuels; dependency is increasing -- Washington Times
Week 43: October 13, 2022 -- October 29, 2022.
Top story:
- Joe Biden is still president.
- Elon Musk buys twitter; deal closed Friday, October 28, 2022.
Top international non-energy story:
- Ukraine war drags on; ninth month.
Top international energy story:
- XOM, Shell, Chevron report record profits
- Saudi's new policy: "Saudi First."
Top national non-energy story:
- AAPL does just fine, surprisingly, and propels market to huge gains.
Top national energy story:
- Diesel shortage.
Javier Blas:
- Saudi's new policy: "Saudi First."
Focus on fracking: most recent edition.
Top North Dakota non-energy story:
Top North Dakota energy story:
Geoff Simon's top North Dakota energy stories:
Bakken economy:
Commentary:
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