TBG Overview

ETF Announcement: The TBG Dividend Focus ETF, managed by The Bahnsen Group, has hired Bowyer Research to advise on proxy voting, focusing on shareholder capitalism and avoiding political issues in corporate governance.

Investment Strategy: Launched in November 2023, the ETF aims to implement a dividend growth philosophy by investing in equities with sustainable and growing dividend yields, currently managing $125 million in assets.

Quarterly Performance: Cummins Inc reported a 3% decline in sales year-over-year for Q1 2025, totaling $8.17 billion, which was below expectations. Despite this, the company achieved an operating income of $1.134 billion and an EPS of $5.96, surpassing analyst predictions.

Outlook and Strategy: Due to economic uncertainty, Cummins has decided not to provide revenue or profitability guidance for the remainder of 2025, although CEO Jennifer Rumsey expressed confidence in their strategic direction, particularly the "Destination Zero" initiative.

Fourth Quarter Results: Cummins Inc reported a 1% decline in sales year-over-year to $8.45 billion, surpassing expectations, with mixed performance across segments; EPS fell to $3.02 from $4.59 a year ago.

2025 Outlook: The company anticipates slightly weaker demand in North America's on-highway truck markets but expects overall revenue to remain stable, projecting a revenue change of down 2% to up 3% and EBITDA between 16.2% and 17.2%.

TBG Dividend Focus ETF Milestone: The Bahnsen Group's TBG Dividend Focus ETF has surpassed $100 million in assets, focusing on U.S. companies with a strong history of dividend growth and achieving a total market return of 27.34% since its inception in November 2023.

Investment Strategy and Management: The ETF employs a selective investment strategy based on various financial metrics and actively manages its portfolio by selling companies that fail to maintain or grow their dividends, under the management of The Bahnsen Group.