👉 Trump Signed the Bill, Elon Started a Party

Together with Money Pickle

👉 Week in Review — Too Long; Didn’t Read:

Key Earnings Announcements:

• Softening beer demand continues to hurt Constellation Brands.

• MSC Industrial continues to make strategic moves to reenergize its core customer base.

Investor Events & Global Affairs:

• Tesla beat its delivery estimates

• Elon Musk started the “America Party” after the Big Beautiful Bill was signed.

• Figma officially filed for an IPO

• OpenAI clarified that Robinhood’s “tokens” aren’t actually equity.

Major Economic Events:

• The Big Beautiful Bill has officially been signed into law. and the

• jobs report had better results than expected.

Happy Sunday.

I hope you all had a wonderful 4th of July weekend. Before we dive in, we’re sharing our thoughts and prayers for any of you that may be impacted by the flooding in Texas. It’s a gut-wrenching situation and at least 80 lives have been lost at the time of writing this.

In case you’re new around here, I’m Austin Hankwitz — I’ve been publishing earnings analysis on publicly-traded companies for over half a decade. My podcast, Rich Habits, has hit #1 on Spotify’s Business Podcast chart four times since it’s inception only two years ago.

At the start of 2023, I began my journey of building a $2M Dividend Growth Portfolio from scratch. This twice-weekly newsletter is how I keep you all updated on my progress.

For me, early retirement means $2M invested. For you, it might mean something else. Regardless of your early-retirement number — I hope these weekly synopses of my portfolio progress + what’s been happening in the markets helps you on your own journey.

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👉 Key Earnings Announcements:

Softening beer demand continues to hurt Constellation Brands, and MSC Industrial continues to make strategic moves to reenergize its core customer base.

• Constellation Brands (STZ)

Key Metrics

Revenue: $2.52 billion, a decrease of -5.5% YoY

Operating Income: $713.8 million, a decrease of -16.1% YoY

Net Income: $516.1 million, a decrease of -41.2% YoY

Earnings Release Callout

“We continue to invest against our brands to build long-term success for those brands. And we're investing in places that we think are high impact: football, soccer, Major League Baseball, things that are live, things that are action-oriented and things that tend to be beer occasions. So we're going to continue to invest against our business. Our fundamental belief is, as I said on the prior question, our brand health metrics are very strong. Our intent is to keep those metrics as strong as they are, if not to improve those. And part of the way we will do that is to continue to invest against the consumer. So as the consumer begins to revert to more normal behavior, whenever that occurs, we're going to be in a position to win.”

My Takeaway

• MSC Industrial (MSM)

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