55 material Form 8-K filings that 53 companies we cover made with the SEC in November 2023, each read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). All of them were written later, when past filings were added: a selection, not every 8-K of the month (see the note below).
Marcus & Millichap reported third-quarter 2023 revenue of $162.0 million, down 50.0% from $323.8 million a year earlier, and a net loss of $9.2 million, or $0.24 per diluted share, compared with net income of $21.4 million, or $0.53 per share, in the prior-year quarter. The company said the commercial real estate market remains disrupted by higher interest rates and financing constraints, and that growth initiatives such as talent acquisition weighed on earnings.
Total revenue $162.0 million versus $323.8 million; real estate brokerage commissions $139.8 million versus $292.9 million
Net loss $9.2 million, or $0.24 per diluted share, versus net income of $21.4 million, or $0.53 per diluted share
Adjusted EBITDA $(6.6) million versus $36.6 million in Q3 2022
Nine-month net loss $23.8 million, or $0.61 per diluted share, versus net income of $96.3 million, or $2.39 per share
Saul Centers reported third-quarter 2023 results that improved on a year earlier. Total revenue rose to $63.8 million from $61.1 million, and net income available to common stockholders rose to $10.0 million, or $0.42 per share, from $9.2 million, or $0.38 per share. The filing gives no guidance, and the results were released in a press release furnished as Exhibit 99.1.
Total revenue for the quarter ended September 30, 2023 was $63.8 million, up from $61.1 million a year earlier.
Net income available to common stockholders was $10.0 million, or $0.42 per basic and diluted share, versus $9.2 million, or $0.38, in the 2022 quarter.
Diluted FFO per share available to common stockholders and noncontrolling interests was $0.76, up from $0.73.
As of September 30, 2023, 94.2% of the commercial portfolio was leased, compared with 93.0% a year earlier.
Penumbra reported third-quarter 2023 results, with revenue up 26.8% from a year earlier and GAAP net income of $9.2 million, compared with a net loss of $2.3 million in the third quarter of 2022. The company also said it expects fourth-quarter revenue growth of 28% to 31% and cited full-year 2023 revenue guidance of $1.05 billion to $1.07 billion.
Q3 2023 revenue was $270.9 million, up 26.8% (25.9% in constant currency) from $213.7 million in Q3 2022.
GAAP income from operations was $12.6 million, including a one-time $18.2 million acquired in-process R&D expense; non-GAAP income from operations was $33.2 million.
Thrombectomy product revenue rose 38.0% to $179.1 million, a company record.
Full-year 2023 revenue guidance is $1.05 billion to $1.07 billion, with fourth-quarter growth expected at 28% to 31%.
Qualys reported third-quarter 2023 revenue of $142.0 million, up 13% from a year earlier, and GAAP net income of $46.5 million, or $1.24 per diluted share, versus $0.71 a year earlier. The company raised its full-year 2023 GAAP EPS guidance to $3.71-$3.81 from $3.07-$3.22, which is a positive signal for shareholders, though the filing notes that about $0.29 of the quarter's EPS came from a change in tax estimates.
Q3 2023 revenue was $142.0 million, up 13% from $125.6 million in Q3 2022.
GAAP net income was $46.5 million, or $1.24 per diluted share, versus $0.71 a year earlier; about $0.29 per share reflected a tax estimate change.
Full-year 2023 GAAP EPS guidance was raised to $3.71-$3.81 from $3.07-$3.22; non-GAAP EPS guidance rose to $5.04-$5.14 from $4.50-$4.65.
Q3 operating cash flow was $92.4 million, up 119% from $42.2 million.
Universal Display reported third-quarter 2023 revenue of $141.1 million, down from $160.6 million a year earlier, and net income of $51.5 million, or $1.08 per diluted share, versus $53.5 million, or $1.12, in the prior-year quarter. The company revised its 2023 revenue guidance to a range of $565 million to $590 million and declared a fourth-quarter cash dividend of $0.35 per share.
Q3 2023 total revenue was $141.1 million, compared with $160.6 million in Q3 2022; royalty and license fees fell to $45.9 million from $71.5 million
Q3 2023 operating income was $48.4 million, compared with $68.5 million; net income was $51.5 million, or $1.08 per diluted share
2023 revenue is now expected to be in the range of $565 million to $590 million
Fourth-quarter dividend of $0.35 per share is payable December 29, 2023, to holders of record on December 15, 2023
International Bancshares reported net income of $305.4 million, or $4.91 per diluted share, for the nine months ended September 30, 2023, up from $194.8 million, or $3.09 per diluted share, a year earlier. Third-quarter net income rose 23.9% to $103.3 million, or $1.66 per diluted share, with the company citing higher net interest income tied to rising interest rates and its investment portfolio.
Nine-month net income of $305.4 million, up 56.8% from $194.8 million in 2022
Nine-month diluted EPS of $4.91, up 58.9% from $3.09
Third-quarter net income of $103.3 million, or $1.66 per diluted share, up 23.9% from $83.4 million
Total assets were $14.9 billion at September 30, 2023, down from $15.5 billion at December 31, 2022; deposits fell to $11.9 billion from $12.7 billion
Effective November 1, 2023, ALPS Advisors, Inc., the Fund's adviser, voluntarily agreed to waive 0.15% of its advisory fee, based on the Fund's average daily Managed Assets. The Fund's sub-advisor, Principal Real Estate Investors, LLC, agreed to share the waiver, reducing its fee by 0.075%. For shareholders, the filing describes a lower fee arrangement for one year.
Adviser fee waiver of 0.15% of average daily Managed Assets, effective November 1, 2023
Sub-advisor fee reduced by 0.075% under the shared waiver
Waiver is in effect for one year
Board of Trustees recommended the waiver at its recent regularly scheduled meeting
InterDigital reported third quarter 2023 revenue of $140.1 million, up 22%, mainly from catch-up revenues tied to two new patent license agreements, and net income attributable to the company of $47.9 million, up 116%. The company guided fourth quarter 2023 revenue to $102 million to $106 million and diluted EPS to $0.70 to $0.80, and raised its quarterly dividend to $0.40 per share from $0.35.
Q3 2023 total revenue was $140.1 million, up 22%, with catch-up revenues of $35.6 million versus $13.7 million a year earlier.
Q3 2023 net income attributable to InterDigital was $47.9 million, up 116%; diluted EPS was $1.72 versus $0.74.
Q4 2023 guidance: revenue of $102 million to $106 million and diluted EPS of $0.70 to $0.80, excluding any new agreements not yet signed.
Quarterly cash dividend increases to $0.40 per share from $0.35, beginning with the dividend paid in Q4 2023.
ServisFirst Bancshares said Chief Financial Officer William "Bud" Foshee will retire after the Form 10-K filing in February 2024, and the board appointed Kirk Pressley to succeed him. A CFO change is a significant leadership transition for shareholders, and the filing says Pressley's compensation has not changed as a result of the appointment.
Foshee notified the board on November 1, 2023 that he will retire as CFO after the Form 10-K filing in February 2024, following 19 years of service.
Kirk Pressley, 57, joined ServisFirst Bank as Executive Vice President of Strategic Planning in July 2023 and previously served as CFO of BBVA USA from 2015 to 2021.
No changes have been made to Pressley's compensation as a result of being named successor.
Edison "Ed" Woodie and Davis Mange remain on the finance team, according to the press release.
BrightSphere Investment Group Inc. (NYSE: BSIG) reported third-quarter 2023 results, with total revenue of $107.3 million, up 23.6% from a year earlier, and U.S. GAAP diluted EPS of $0.46 versus $0.42. Assets under management fell 2.5% in the quarter to $97.4 billion because of market declines and $(0.5) billion of net outflows. Note: the filing is from BrightSphere, which describes Acadian Asset Management as its sole operating business, not from Acadian Asset Management Inc. (AAMI) as the request stated.
Total revenue of $107.3 million in Q3 2023, up 23.6% from $86.8 million in Q3 2022
U.S. GAAP diluted EPS of $0.46 versus $0.42 a year earlier; ENI diluted EPS of $0.45 versus $0.30
AUM of $97.4 billion at September 30, 2023, down 2.5% from $99.9 billion at June 30, 2023, with net flows of $(0.5) billion
Board approved a $0.01 per share interim dividend payable December 28, 2023 to holders of record on December 15, 2023
Curtiss-Wright reported third-quarter 2023 sales of $724 million, up 15%, and GAAP diluted EPS of $2.51 versus $1.91 a year earlier. The company raised its full-year 2023 adjusted diluted EPS guidance to $9.00 to $9.20 from $8.90 to $9.15, and raised its sales growth and free cash flow ranges.
Q3 2023 sales of $724 million, up 15%; reported operating margin of 18.3%
GAAP diluted EPS of $2.51 vs $1.91; adjusted diluted EPS of $2.54, up 23%
2023 adjusted diluted EPS guidance raised to $9.00 to $9.20 from $8.90 to $9.15; sales growth guidance raised to 8% to 10%
Backlog of $2.9 billion, up 12% from December 31, 2022; conference call on November 2, 2023 at 10:00 a.m. ET
DNOW reported third-quarter 2023 results for the period ended September 30, 2023. Revenue rose to $588 million from $577 million a year earlier, but net income attributable to NOW Inc. fell to $35 million from $40 million, and diluted EPS fell to $0.32 from $0.35. The company said it had no long-term debt and $547 million of total liquidity, and it repurchased $5 million of common stock in the quarter.
Revenue of $588 million in Q3 2023, versus $577 million in Q3 2022
Net income attributable to NOW Inc. of $35 million, versus $40 million a year earlier; diluted EPS of $0.32, versus $0.35
Non-GAAP diluted EPS excluding other costs of $0.25, versus $0.30 a year earlier
Cash and cash equivalents of $194 million, zero long-term debt and total liquidity of approximately $547 million at September 30, 2023
Essent Group reported third-quarter 2023 net income of $178.0 million, or $1.66 per diluted share, essentially unchanged from $178.1 million, or $1.66 per diluted share, a year earlier. New insurance written fell to $12.5 billion from $17.1 billion in the third quarter of 2022, while insurance in force rose to $238.7 billion, and the company also declared a $0.25 quarterly dividend and approved a $250 million share repurchase plan.
Net income of $178.0 million, or $1.66 per diluted share, for the quarter ended September 30, 2023, versus $178.1 million, or $1.66 per diluted share, a year earlier
New insurance written was $12.5 billion, compared with $13.5 billion in the second quarter of 2023 and $17.1 billion in the third quarter of 2022
Quarterly cash dividend of $0.25 per share payable December 11, 2023, to holders of record on December 1, 2023; board approved $250 million buyback for January 1, 2024 to December 31, 2025
Strategic Education reported third-quarter 2023 results, with revenue up 8.7% to $285.9 million and diluted earnings per share of $0.77, compared with $0.25 a year earlier. Income from operations rose to $25.6 million from $7.8 million, though GAAP results include $3.3 million in restructuring costs. The company also declared a $0.60 per share quarterly dividend and will hold an Investor and Analyst Day on November 7, 2023.
Revenue rose 8.7% to $285.9 million from $263.1 million a year earlier.
Diluted EPS was $0.77 versus $0.25; adjusted diluted EPS, a non-GAAP measure, was $0.97 versus $0.33.
Net income was $18.5 million versus $6.1 million; restructuring costs were $3.3 million versus $0.6 million.
Quarterly dividend of $0.60 per share is payable December 4, 2023 to holders of record on November 27, 2023.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.
Briefs marked “Written later” were written in November 2026 for filings that were by then more than three weeks old, so months before mid-October 2026 hold a selection: every material 8-K of the past year for the 100 largest companies we cover and the last 15 important 8-Ks of every other one. Briefs the number check holds back are not shown or counted. Also: the last 45 days, briefs by company, A–Z and the live SEC filings wire.