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billion, but free cash flow saw a significant reduction to $492 million, attributed to necessary capitalinvestments. The company successfully returned $852 million to shareholders and reported a backlog of $218 billion, ensuring sustained demand and future revenue visibility. RTXs operating cash flow for the quarter was $1.6
Our increasing profitability has enabled us to continue to return meaningful capital to shareholders, as reflected by the incremental $342 million we deployed to shareholders in the third quarter. Not meaningful from a capitalinvestment perspective. The Sponsored Ads business continues to perform well.
We've increased our regular dividend rate 160%; and including both regular and special dividends, paid or committed to pay more than $13 billion directly to shareholders; and $3.2 billion of that free cash flow back to our shareholders through a mix of our regular dividend and opportunistic share repurchases. We generated $1.6
Notably, FedEx returned value to shareholders through $500 million in share repurchases during the quarter. Capitalinvestments (with an emphasis on network optimization and automation) are expected to be $4.9 Macroeconomic factors, notably the U.S. industrial sectors softness, led to shifts in service demand. billion as of Feb.
It will receive recurring monthly option payments, which will be used to pay predictable dividends to shareholders, and will additionally receive initial deposits and proceeds from the sale of fully developed homesites. Lennar will distribute 80% of the stock of Millrose to Lennar shareholders. billion revolving credit facility.
These strong financials provide flexibility for future investments and dividend increases, with a quarterly dividend raise of 10%, marking the 22nd consecutive year of hikes, underlining the company's consistent value orientation for shareholders. Despite these achievements, adjusted EPS slipped by 2.3%
With our industry-leading brands that excel in each of their respective segments, the most innovative fleet and destinations, and the best people who are focused on delivering a lifetime of vacations for our guests, we focus on winning share from the large and attractive travel industry while delivering long-term shareholder value.
We are also laser-focused on optimizing our capital expenditures. billion, leveraging optimization initiatives in certain capitalinvestments. Looking ahead, we will remain highly focused on our disciplined capital allocation approach, balancing capex optimization, accretive growth, and strong shareholder returns.
Regarding the second questions, regarding the question on the logistic investment. The core capitalinvestment is centered around our sorting machines and part of the improvement to the hub and to the sorting centers. The second question is on your cash and investments, which are close to $10 billion now.
Invest in yourself Buffett has freely shared his wisdom and advice -- not only regarding financial matters but also life in general -- via many articles, interviews, annual letters to shareholders, and question-and-answer sessions at the annual meetings of his company, Berkshire Hathaway.
The annual run rate of new projects is expected to be around 7 gigawatts a year, so the backlog represents decades' worth of capitalinvestment opportunity. And there's a high likelihood that the dividend will continue to increase in the future as new capitalinvestments get completed and start producing cash flows.
Additionally, the Cosmopolitan of Las Vegas was transitioned to MGM Rewards, and these regular capitalinvestments into our resort operations drive continued guest visitation and increased spend. We've also made some important capitalinvestments this year in high-limit slot areas, ARIA, MGM Grand, The Bellagio is underway.
And as we start 2024, we remain steadfast in our continued focus on execution and creating long-term value for shareholders. Our two businesses are deploying capital in renewables and transmission for the benefit of customers, providing visible growth opportunities for shareholders. At NextEra Energy, the plan is simple.
This performance is at the top end of our long-term expectations as we continue to compound value for our shareholders. Our ability to deliver value for our customers and accretive growth for our shareholders in 2024 is a testament to the strength of our team and the quality of our differentiated business model. dollar during Q4.
Lastly, I would like to reinforce our commitment to returning excess free cash flow to our shareholders. You can see our commitment to capital returns since 2022 on Page 15. This equates to almost $1 billion in capital return to shareholders since 2022 and a share buyback amounting to 14% of our outstanding shares.
Year to date, we've made capitalinvestments of 15.5 That depreciation and amortization expense represents 57% of capitalinvested. And as we continue to replace our aged infrastructure, we expect that ratio of depreciation, as a percentage of capitalinvestment, to increase. million for the same period.
The stock will be distributed as a stock dividend of Millrose stock to Lennar shareholders, and it will accordingly reduce inventory on Lennar's books. As a result of our continued focus on balance sheet efficiency and reducing our capitalinvestment, we, once again, made significant progress on our goal of becoming land light.
I'm pleased with the progress we're making toward delivering a compelling repositioning of our company to create maximum long-term value for shareholders, employees, customers, and other stakeholders. The sale represents an attractive exit from what has been an excellent investment for our shareholders. Turning to Slide 8.
But to affirm what we outlined in our last November call and since, if we were to contract the balance of our open position at the same average pricing secured under these recent contracts, that could enable CWEN CAFD per share growth at the low end of 5% to 8% into 2027 without a need for additional capitalinvestment.
We'd like to welcome all of our shareholders, analysts, and most importantly, our employees to Core Laboratories' second quarter 2024 earnings call. Chris will then give a detailed financial overview and have additional comments regarding shareholder value. Lawrence Bruno -- Chairman and Chief Executive Officer Thanks, Chris.
We remain focused on driving efficiencies across the business, which enables us to invest to support the strong growth we're seeing in AWS, including generative AI, which brings us to capitalinvestments. In 2023, overall capitalinvestments were $48.4 Please proceed. Brian Nowak -- Morgan Stanley -- Analyst Great.
Our business strategy is predicated or investing in high-quality assets and also have scale. We have designed our capitalinvestment programs to ensure that we will continue to be the market leader in the years ahead. As we complete the balance of our investment programs, there will be considerable runway for growth.
SNDL has also posted a supplementary investor presentation along with the shareholder letter from Chief Executive Officer Zach George on its sndl.com website. SNDL's team has worked to build a scaled and diversified platform that we believe will be the basis for the creation of sustainable shareholder value. at this scale.
Subject to the evaluation and approval of our GCN Committee, we would aim to make an investment commitment in the second half of 2024 and to fund the investment by the end of 2025. in CAFD per share for our shareholders. I've had the good fortune to have dialogue with many of you in the investment community. CAFD yield.
We take capital allocation seriously here, and we're proud of these moves and the execution of the Cosmopolitan, which made it all possible. This year, through today, we also returned capital to shareholders by purchasing over 28 million shares for $1.2 The capitalinvestment requirement is fairly modest.
We are committed to returning excess capital to shareholders. For the full year 2023, this capital return represents a payout of 92% of our operating cash flow, excluding changes in working capital, highlighting our commitment to superior shareholder returns. MPC's investment plan, excluding MPLX, totals $1.25
During his tenure, Mike delivered its transformative strategic priorities and returned a peer-leading $40 billion to shareholders. Our disciplined capitalinvestments are focused on high-return projects. and cash from operations, excluding the impacts of working capital of $2.7 billion to our shareholders.
And finally, we continued to track -- we continued our track record of robust capital returns, with nearly $90 million returned to shareholders over the year-to-date period as we track toward a minimum total return yield of 3.6% million as mineral reserve base and meaningfully improve gold recoveries for incremental capitalinvestment.
as customers direct their capitalinvestments to AI and accelerated computing. billion to shareholders in the form of share repurchases and cash dividends. We have also developed and qualified additional capacity and suppliers for key steps in the manufacturing process such as co-op packaging. We returned approximately 3.4
We are confident this will deliver long-term value for our users, customers, and shareholders. Following my initial conference call, I look forward to engaging with analysts and shareholders in the coming period. Turning now to intelligent driving. Junjie He -- Interim Chief Financial Officer Thank you, Robin. Hi, everyone.
Investments and acquisitions comprised of attractive refining projects and midstream investments, including MPLX's $625 million strategic acquisition in the Utica Basin. In Refining, we are investing predominantly at our large competitively advantaged facilities to enhance shareholder value and position MPC well into the future.
We remain focused on driving efficiencies across the business, which enables us to invest to support the strong growth we're seeing in AWS, including generative AI. Now let's turn our attention to capitalinvestments. Looking ahead to the rest of 2024, we expect capitalinvestments to be higher in the second half of the year.
And as we look forward, we're very optimistic about the markets we serve, our portfolio of high-quality copper assets, and the future prospects for strong cash flow generation to support investments and value-enhancing projects and returns to shareholders. We'll talk about markets on Slide 4. On the LME, they range between $3.91
So, while it has future potential, its capital requirements and management bandwidth consumption have really led me to direct our team to evaluate all strategic alternatives to maximize shareholder value from this asset. Third, we're intensifying our focus on financial discipline and shareholder returns. million to 5.1
Our solid profitability in fiscal 2024 translated into strong cash flow from operating activities of $900 million which supports CMC's ongoing investment in future growth initiatives, as well as our commitment to providing competitive levels of cash distributions to our shareholders. During the year, we returned $261.8
I'm very confident about the next phase of our evolution, which you'll hear more about, and we'll deliver a sustainable improved performance over time and create value for our shareholders, customers, and crewmembers. Before passing it over to Joanna, I want to briefly touch on the Spirit transaction. With that, over to you, Ursula.
The new assistant will quickly summarize and provide the seller with succinct answers without them having to sort through long articles or other materials. So, whether it's that or the capitalinvestments in supply chain, what you're seeing is that we are playing offense. Please proceed with your question.
As we look forward, we're focused on delivering value to our shareholders in a more self-sufficient manner. We see tremendous value in the business from investments we have made for our customers that are not yet in rates. These are necessary steps that we expect to unlock more value in the long term for our shareholders.
And as the Canadian cannabis market continues to mature and consolidate, we expect excess capacity within the industry to present Canopy with tangible opportunities to accelerate speed to market, avoid capitalinvestments until critical sales volumes are achieved, and to provide us with surge capacity during peak periods.
Our AI-powered collaborative articles, which has reached over 12 million contributions are helping increase engagement on the platform, which reached a new record this quarter. This quarter, other income and expense was negative $854 million, lower than anticipated, driven by losses on investments accounted for under the equity method.
We are making smart capitalinvestments in low-cost solar generation and battery storage. We have shouldered this additional growth through our reserve amortization mechanism, which enables FPL to absorb the cost for these capitalinvestments without increasing customer bills in the interim.
We are making smart capitalinvestments in low-cost solar generation and battery storage. We have shouldered this additional growth through our reserve amortization mechanism, which enables FPL to absorb the cost for these capitalinvestments without increasing customer bills in the interim.
billion to shareholders through dividends and share repurchases, bringing our total cash return to shareholders to over $34 billion for the full fiscal year. And in H2, we expect Azure growth to accelerate as our capitalinvestments create an increase in available AI capacity to serve more of the growing demand.
As the board continues to support our efforts to maximize value for all Stratasys shareholders, it is important to keep in mind that our board has not determined that 3D Systems' proposal, in fact, constitutes a superior proposal. As always, we are focused on pursuing the path that will deliver the greatest value for our shareholders.
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