Should you flick through these US mid-cap stocks?

February 03, 2023 03:33 AM PST | By Mridul Gogoi
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  • Plains All American Pipeline’s adjusted net income in Q3 2022 was US$ 623 million.
  • Levi Strauss & Co.’s Q4 2022 diluted EPS was $0.38.
  • Levi Strauss has a dividend yield of 2.707 per cent. 

Mid-cap stocks can be considered a moderation between the high volatility of small-cap stocks and the high stability of large-cap stocks. This balance that mid-cap stocks have makes them an integral part of any equity market. However, the volatility over the past year has brought similar results to all stocks, including mid-cap stocks. So, can investors hope to expect a better situation in the broader market in 2023?

Let’s take a look at two US mid-cap stocks amid these discussions:

Plains All American Pipeline (NASDAQ: PAA)

Plains All American Pipeline provides transportation, storage, and marketing services for crude oil and natural gas liquids, liquefied petroleum gas, etc.

The company posted Q3 2022 adjusted EBITDA attributable to PAA of US$ 623 million. The company also raised its guidance for full-year 2022 adjusted EBITDA attributable to PAA by US$ 75 million.

The adjusted net income (non-GAAP) attributable to PAA in the third quarter of 2022 was US$ 280 million, up 35 per cent year-over-year (YoY).

The adjusted EBITDA in Q3 2022 was US$ 721 million versus US$ 519 million. 

Plains All American Pipeline Q3 net income and adjusted EBITDASource: ©2023 Krish Capital Pty. Ltd; © Canva Creative Studio via

Levi Strauss & Co. (NYSE: LEVI)

Levi Strauss & Co. is an American clothing company, particularly well-known for its signature denim jeans. Levi Strauss has a dividend yield of 2.707 per cent and paid a quarterly dividend of US$ 0.12 per share.

In Q42022, Levi Strauss reported an EPS of US$ 0.38 and an adjusted diluted EPS of US$ 0.34.

For FY 2023, Levi Strauss raised its guidance for net revenues from 1.5 per cent to 3 per cent and adjusted diluted EPS from US$ 1.30 to US$ 1.40.

Reported net revenues of Levi Strauss for FY 2022 grew 7 per cent to US$ 6.2 billion compared to FY 2021. It grew 12 per cent on a constant currency basis.

Levi Strauss’ net income for FY2022 was US$ 569 million. The adjusted net income of US$ 604 million in 2022 was up from US$ 601 million in FY 2021. 

Bottom line

Do not expect past performances of stocks as assurance for future gains. The US stock market currently appears to be bearish, and investors are wary of putting their bets on any stock. However, there are ways to mitigate this fear. Stay invested for the long run and do nothing extraordinary until the market is volatile.


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