Telus Slashes Its Dividend, Couche-Tard Goes Shopping, and More Big Tech Earnings
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What is the main topic discussed in this episode?
Investing is simple, but don't confuse that with thinking it's easy. A stock is not just a ticker. At the end of the day, you have to remember that it's a business.
Just my reminder to people who own cyclicals, don't be surprised when there's a cycle.
If there's uncertainty in the markets, there's going to be some great opportunities for investors.
This has to be one of the biggest quarters I've seen from this company in quite some time.
Welcome to the Canadian Investor Podcast. I'm Simon Beranger and I'm back with Dan Kent. We have a fun episode today. Believe it or not, it's pretty busy in the markets. Not just the markets hitting all-time highs, but there's a lot of news, a lot of earnings going on, lots to talk about. We're going to... be talking about a lot of different stuff. So first of all, talking about good food, going for bankruptcy protection. We'll also talk about Alimentation Kusztal looking to make a big acquisition from Poland. Telus recent earnings and their dividend cuts. We'll also talk about SpaceX and their first earnings report. Amazon with a blockbuster quarter, but also some higher capex spend. We also have Imperial Oil because this one will be interesting to see how profits are going after a full quarter of the war in the Middle East, the war in Iran.
See what kind of impact it's having on the actual business. Spoiler alert. They're doing pretty well. And then if we have time, we'll finish with Intact Financial, Canada Goose and 5N Plus, the recent stock that I had on my radar. If you missed it, you can go back to the Monday episode for the four stocks on radar. So that's about it. Big slate, a lot of them on the slate to talk about today. So you want to start us off with Good Food Bankruptcy and actually Shopify if we have time towards the end as well.
Yeah, so I didn't get a lot of time to look into Shopify's quarter. Maybe we can touch base on it again next week. I got kind of the basic numbers, and I think we'll go through these quicker so we can get a little more done because, yeah, there is a ton on the slate. But in terms of good food... It looks like they're filing for bankruptcy and the company mentions that working capital is declining, which is effectively just the current assets they have compared to the liability. So they're just a sinking ship effectively and they don't have the capacity to pay the debt. The company's CEO is resigning after a short six-month tenure, and apparently they've went through a few CEOs over the last few years here, but yeah, this one was pretty short-lived.
And they plan to run a sale and investment solicitation process, which pretty much means they're going to see if anybody will step in and buy the company. I don't really see this happening. Pretty much every company in this space is resigning. effectively getting wrecked hello fresh is still going but if you look to a chart of hello fresh they're down around 97 or 98 from highs i'm not sure what their balance sheet looks like but it's probably better than good foods it kind of seems like because we order this all the time during covid it was obviously it was just a thing to do but it kind of seems like the prices have not budged in terms of what you can get these boxes for especially the deals and stuff like that and when you look to the fact that
Food costs have effectively gone through the roof over that time frame. It's almost impossible to believe that they're making money on this type of stuff, especially at the discounted prices.
Well, it feels like they're doing the same thing and expecting a different result, right? Yeah. They're giving these massive discounts. I think the first order you get like 50% off or whatever. You get four meals and then the second one, 30% off, third, 20, last one, 10%. I think it's some kind of schedule like that. And their thinking is that people will stick around after the 10%, but they've been doing this for years now. And we've taken advantage of it, my wife and I, where we like did the first 350, 40, 30, and then...
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