278 material Form 8-K filings that 243 companies we cover made with the SEC in May 2024, 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).
Pure Storage reported first-quarter fiscal 2025 results for the quarter ended May 5, 2024, with revenue of $693.5 million, up 18% year-over-year, and a GAAP net loss of $35.0 million, down from $67.4 million a year earlier. The company also gave guidance for the second quarter and full fiscal 2025, forecasting full-year revenue of $3.1 billion, which shareholders can compare against future results.
Revenue $693.5 million, up 18% year-over-year; subscription services revenue $346.1 million, up 23%
GAAP net loss $35.0 million, or $0.11 per share, versus $67.4 million, or $0.22 per share, a year earlier
GAAP operating loss $41.8 million, including $15.9 million in restructuring and impairment charges; non-GAAP operating income $100.4 million, a 14.5% margin
Guidance: Q2 fiscal 2025 revenue $755 million; fiscal 2025 revenue $3.1 billion and non-GAAP operating income $532 million
Deckers reported fourth-quarter and full fiscal 2024 results for the year ended March 31, 2024, with full-year net sales up 18.2% to $4.288 billion and diluted EPS up to $29.16 from $19.37. The company guided fiscal 2025 net sales to about $4.7 billion and diluted EPS to $29.50 to $30.00, implying modest EPS growth from fiscal 2024.
Full-year fiscal 2024 net sales rose 18.2% to $4.288 billion; diluted EPS was $29.16 versus $19.37
Fourth-quarter diluted EPS was $4.95 versus $3.46; HOKA brand net sales rose 34.0% to $533.0 million
Fiscal 2025 outlook: net sales up about 10% to $4.7 billion; diluted EPS of $29.50 to $30.00, excluding future buybacks
As of March 31, 2024, about $941.7 million remained under the stock repurchase authorization
StepStone Group reported results for the fourth quarter and fiscal year ended March 31, 2024, in a press release furnished as Exhibit 99.1. Quarterly total revenues rose to $356.8 million from $172.4 million, and net income attributable to StepStone was $30.8 million, or $0.48 per diluted share, versus $28.8 million, or $0.46, a year earlier. Adjusted net income for the full year fell 2% to $139.4 million, so shareholders should note that the non-GAAP earnings measure declined even as GAAP results improved.
Q4 total revenues were $356.8 million, up from $172.4 million; diluted EPS was $0.48 versus $0.46.
Full-year net income attributable to StepStone was $58.1 million, or $0.91 per diluted share, compared with a loss of $18.4 million, or $(0.30), in fiscal 2023.
Full-year adjusted net income was $139.4 million ($1.21 per share), down from $142.7 million ($1.24 per share) in fiscal 2023.
The board declared a quarterly dividend of $0.21 and a supplemental dividend of $0.15 per Class A share, payable June 28, 2024, to holders of record on June 14, 2024.
Ralph Lauren reported fourth-quarter fiscal 2024 revenue of $1.6 billion, up 2% on a reported basis, and reported diluted EPS of $1.38 versus $0.48 a year earlier. The company also gave fiscal 2025 guidance calling for revenue growth of about 2% to 3% in constant currency, announced a 10% dividend increase, and named Justin Picicci as chief financial officer effective May 23, 2024.
Q4 fiscal 2024 revenue rose 2% to $1.6 billion reported and 3% in constant currency; adjusted EPS was $1.71 versus $0.90 a year earlier
Fiscal 2025 outlook: revenue up about 2% to 3% in constant currency; operating margin expected to expand about 100 to 120 basis points in constant currency
Quarterly dividend increased 10% to $0.825 per share, payable July 12, 2024 to holders of record on June 28, 2024
Justin Picicci named CFO effective May 23, 2024; Jane Nielsen remains COO through fiscal 2025
CorVel reported higher revenue and earnings for the three months and fiscal year ended March 31, 2024, in a press release dated May 22, 2024, furnished as Exhibit 99.1. Full-year revenue and diluted earnings per share both rose from the prior year, while fourth-quarter income from operations was flat.
Fiscal 2024 revenue was $795 million, up from $719 million in fiscal 2023.
Fiscal 2024 diluted EPS was $4.40, compared with $3.77; net income was $76.3 million, up from $66.4 million.
Fourth-quarter revenue was $207 million, up from $185 million, and diluted EPS was $1.12, up from $1.04.
Fourth-quarter income from operations was $22.6 million, essentially unchanged from the same quarter a year earlier.
RBC Bearings reported fourth-quarter and full-year fiscal 2024 results, with net sales up 4.9% in the quarter and 6.2% for the year, and GAAP diluted EPS rising to $1.91 and $6.41. The company also guided first-quarter fiscal 2025 net sales to $415.0 million to $420.0 million, a growth rate of 7.2% to 8.5%, which points to continued revenue growth for shareholders.
Q4 fiscal 2024 net sales were $413.7 million, up 4.9%, with Aerospace/Defense up 16.8% and Industrial down 0.4%.
Fiscal 2024 GAAP diluted EPS was $6.41, versus $4.94 in fiscal 2023; adjusted diluted EPS was $8.62.
Backlog was $726.1 million as of March 30, 2024, compared with $663.8 million a year earlier.
Q1 fiscal 2025 net sales outlook is $415.0 million to $420.0 million, versus $387.1 million a year earlier.
Doximity reported fiscal fourth-quarter revenue of $118.1 million, up 6% year-over-year, with net income of $40.6 million, up 32%, and adjusted EBITDA of $56.4 million, up 15%. The company also gave fiscal 2025 revenue guidance of $506 million to $518 million and authorized a $500 million share repurchase program, which matters to shareholders because it signals profit growth alongside capital returns.
Q4 revenue of $118.1 million versus $111.0 million; subscription revenue of $112.7 million, up 9%
Fiscal 2024 revenue of $475.4 million, up 13%; net income of $147.6 million, up 31%
Guidance: fiscal Q1 2025 revenue of $119.5 million to $120.5 million; fiscal 2025 revenue of $506 million to $518 million
Board authorized up to $500 million of Class A stock repurchases on May 1, 2024, with no expiration date
Life360 reported unaudited first-quarter 2024 results in a May 9, 2024 media release furnished under Form 8-K. Revenue rose 15% year over year to $78.2 million, and the net loss narrowed to $(9.8) million from $(14.1) million a year earlier. The company maintained its CY24 guidance, including consolidated revenue of $365 million to $375 million.
Total revenue of $78.2 million, up 15% YoY; subscription revenue of $61.6 million, up 19% YoY
Net loss of $(9.8) million in Q1 2024, compared with $(14.1) million in Q1 2023
Adjusted EBITDA of $4.3 million versus $0.5 million a year earlier; operating cash flow of $10.7 million
CY24 guidance maintained: consolidated revenue of $365 million to $375 million and Adjusted EBITDA of $30 million to $35 million
Alarm.com reported first-quarter 2024 results on May 9, 2024, with GAAP net income attributable to common stockholders up 63.7% to $23.6 million, or $0.44 per diluted share, and SaaS and license revenue up 11.0% to $150.3 million. The company raised its full-year 2024 guidance for SaaS and license revenue, non-GAAP adjusted EBITDA and non-GAAP adjusted net income attributable to common stockholders, which points to higher expected results for shareholders.
GAAP net income attributable to common stockholders was $23.6 million, or $0.44 per diluted share, versus $14.4 million, or $0.28, a year earlier
Total revenue rose 6.5% to $223.3 million; non-GAAP adjusted EBITDA rose 21.2% to $37.0 million
Full-year 2024 SaaS and license revenue guidance is $624.5 million to $625.0 million, and non-GAAP adjusted EBITDA guidance is $164.0 million to $166.0 million
A $4.0 million credit loss reserve tied to a subordinated credit agreement with a service provider partner reduced first-quarter earnings
Arlo Technologies reported first quarter 2024 results for the period ended March 31, 2024, with revenue of $124.2 million, up 11.9% from a year earlier but down from $135.1 million in the fourth quarter of 2023. GAAP net loss per share narrowed to $(0.10) from $(0.16) a year earlier, and non-GAAP earnings per share rose to $0.09 from $0.01. The company guided second-quarter 2024 revenue to $120 million to $130 million.
Services revenue of $56.7 million, up 29.0% year over year; free cash flow of $19.5 million.
GAAP EPS $(0.10) vs. $(0.16) a year earlier; non-GAAP EPS $0.09 vs. $0.01.
Q2 2024 outlook: revenue of $120 million to $130 million; GAAP EPS $(0.11) to $(0.05); non-GAAP EPS $0.06 to $0.12.
Verisure partnership extended for five additional years into 2029.
Yelp reported first-quarter 2024 net revenue of $333 million, up 7% from a year earlier, and net income of $14 million, or $0.20 per diluted share, compared with a net loss of $1 million in the first quarter of 2023. Adjusted EBITDA rose 19% to $64 million, $12 million above the high end of its outlook range, and the company reaffirmed its 2024 net revenue outlook of $1.42 billion to $1.44 billion while narrowing its adjusted EBITDA outlook to $315 million to $325 million.
Net revenue was $333 million, up 7% year over year, driven mainly by advertising revenue; Services advertising revenue rose 11% to $203 million.
Net income was $14 million, or $0.20 per diluted share, versus a net loss of $1 million in the prior-year quarter; adjusted EBITDA was $64 million, a 19% margin.
Full-year 2024 net revenue outlook of $1.42 billion to $1.44 billion was reaffirmed; adjusted EBITDA outlook was narrowed to $315 million to $325 million.
Yelp repurchased about 1.5 million shares for $62.5 million in the first quarter.
Warby Parker reported first quarter 2024 net revenue of $200.0 million, up 16.3% from the prior year, and a GAAP net loss of $2.7 million, narrowed from $10.8 million a year earlier. The company raised its full-year 2024 guidance to net revenue of $753 to $761 million, which matters to shareholders because it signals stronger sales growth and a smaller loss than the company previously expected.
Net revenue rose $28.0 million, or 16.3%, to $200.0 million for the quarter ended March 31, 2024.
GAAP net loss was $2.7 million, compared with $10.8 million in the first quarter of 2023.
Adjusted EBITDA was $22.4 million, a margin of 11.2%, compared with $17.7 million and 10.3% a year earlier.
For full-year 2024, guidance calls for net revenue of $753 to $761 million and adjusted EBITDA of $70.0 million at the revenue midpoint.
Liquidity Services reported results for the quarter ended March 31, 2024, in a press release furnished under Item 2.02 of Form 8-K. Revenue rose 12% to $91.5 million and GAAP net income rose 35% to $5.7 million, or $0.18 per diluted share. The company also gave third-quarter fiscal 2024 guidance, including GAAP net income of $3.5 million to $6.5 million, which gives shareholders a view of expected near-term earnings.
Gross merchandise volume (GMV) was $319.4 million, up 13%, and revenue was $91.5 million, up 12%.
GAAP net income was $5.7 million, up 35%, and GAAP diluted EPS was $0.18, up 38%.
Non-GAAP Adjusted EBITDA was $12.1 million, up from $9.9 million in the prior-year quarter.
Q3 FY24 guidance: GAAP net income of $3.5 million to $6.5 million and GAAP diluted EPS of $0.11 to $0.21.
YETI reported first-quarter 2024 net sales up 13% to $341.4 million, with GAAP diluted EPS up 50% to $0.18 and adjusted EPS up 89% to $0.34. The company kept its full-year sales outlook and raised its adjusted EPS outlook to $2.49 to $2.62 from $2.45 to $2.50, citing gross margin gains and a $100 million accelerated share repurchase.
Net sales rose 13% to $341.4 million; International sales rose 32% and U.S. sales rose 9%.
GAAP net income rose 50% to $15.9 million; adjusted net income rose 89% to $29.3 million.
Fiscal 2024 adjusted net income per diluted share outlook raised to $2.49 to $2.62 from $2.45 to $2.50; adjusted sales outlook of 7% to 9% growth unchanged.
Completed a $100 million accelerated share repurchase with Goldman Sachs; $200 million remained under the program as of March 30, 2024.
Ormat Technologies reported first-quarter 2024 results on May 8, 2024. Total revenues rose 21.0% year over year and diluted EPS rose 25.5% to $0.64, while operating income fell 1.1% to $52.6 million. The company reiterated its full-year 2024 revenue and Adjusted EBITDA guidance and declared a quarterly dividend of $0.12 per share.
Total revenues were $224.2 million, up 21.0% from $185.2 million; diluted EPS was $0.64 versus $0.51.
Net income attributable to stockholders was $38.6 million, up 32.9%; operating income was $52.6 million, down 1.1%.
Adjusted EBITDA was $141.2 million, up 14.4%; 2024 guidance reiterated at $860 million to $910 million in total revenues and $515 million to $545 million in Adjusted EBITDA.
Quarterly dividend of $0.12 per share is payable June 5, 2024, to holders of record as of May 22, 2024.
Innoviva reported first quarter 2024 results for the period ended March 31, 2024. Total revenue rose to $77.5 million from $76.4 million, and net income increased to $36.5 million, or $0.58 basic per share, from $34.9 million, or $0.51 basic per share, a year earlier. Net product sales grew 66% to $19.1 million, while the company's share buyback program was completed by April 25, 2024.
Total revenue was $77.5 million versus $76.4 million in Q1 2023; the prior year included $8.0 million of license revenue, and none was reported in Q1 2024.
Net product sales were $19.1 million, up 66% from $11.5 million, led by XACDURO and GIAPREZA.
Diluted earnings per share were $0.46 versus $0.42 in the prior year period.
Share repurchases totaled $9.7 million in Q1 2024, and the program was completed through April 25, 2024 with a further approximately $5.3 million of repurchases.
The Cheesecake Factory reported first-quarter fiscal 2024 revenue of $891.2 million, up from $866.1 million a year earlier, and net income of $33.2 million, or $0.68 per diluted share, compared with $0.56 a year earlier. Comparable restaurant sales at The Cheesecake Factory restaurants declined 0.6%, and the Board declared a $0.27 quarterly dividend.
Revenue of $891.2 million versus $866.1 million in the first quarter of fiscal 2023
Net income of $33.2 million; diluted EPS of $0.68 versus $0.56 a year earlier
Adjusted diluted EPS of $0.73 excludes a $3.2 million pre-tax net expense tied to asset impairments, lease terminations and FRC acquisition-related items
Quarterly dividend of $0.27 per share, payable June 4, 2024 to holders of record on May 22, 2024
Maximus reported fiscal second-quarter 2024 results for the quarter ended March 31, 2024, with revenue up 11.7% to $1.35 billion and diluted EPS of $1.31, compared with $0.52 a year earlier. The company raised its fiscal 2024 guidance, with adjusted diluted EPS now expected at $5.65 to $5.85, an increase of $0.40 per share from prior guidance at the midpoint.
Revenue rose 11.7% to $1.35 billion from $1.21 billion, with organic growth of 12.6%.
Diluted EPS was $1.31 versus $0.52; adjusted diluted EPS was $1.57 versus $0.81.
FY24 revenue guidance is $5.15 billion to $5.25 billion, up $75 million at the midpoint.
The board declared a quarterly cash dividend of $0.30 per share, payable May 31, 2024.
Texas Pacific Land reported first-quarter 2024 net income of $114.4 million, or $4.97 per diluted share, and total revenues of $174.1 million, compared with $86.6 million and $146.4 million a year earlier. Both headline measures rose year over year, and operating expenses fell to $38.1 million from $41.4 million. The company also declared a $1.17 per share quarterly dividend and released a produced water desalination presentation ahead of a May 9, 2024 earnings call.
Net income was $114.4 million, or $4.97 per diluted share, versus $86.6 million, or $3.75 per share, in the first quarter of 2023; per-share figures reflect the three-for-one stock split effective March 26, 2024.
Total revenues were $174.1 million, up from $146.4 million a year earlier, with water sales of $37.1 million and total water services and operations revenue of $62.7 million.
Board declared a quarterly cash dividend of $1.17 per share, payable June 17, 2024 to holders of record on June 3, 2024.
Earnings call is scheduled for 7:30 a.m. Central Time on May 9, 2024.
Sabra Health Care REIT reported first quarter 2024 net income of $26.3 million, or $0.11 per diluted share, compared with a net loss of $9.5 million, or $0.04 per share, a year earlier. Total revenues rose to $166.7 million from $161.3 million, and the company reiterated its 2024 earnings guidance.
Q1 2024 normalized FFO was $0.34 per diluted share, up from $0.33 a year earlier; normalized AFFO was $0.35, up from $0.34.
Total revenues were $166.7 million, up from $161.3 million; senior housing managed portfolio operating expenses rose to $49.7 million from $43.6 million.
2024 guidance reiterated: normalized FFO of $1.34 to $1.38 per diluted share and normalized AFFO of $1.39 to $1.43, assuming no 2024 acquisitions or dispositions.
Board declared a quarterly dividend of $0.30 per share, payable May 31, 2024, to holders of record as of May 20, 2024.
Safety Insurance Group reported first quarter 2024 net income of $20.1 million, or $1.36 per diluted share, compared with a net loss of $12.3 million, or $0.84 per diluted share, a year earlier. Net earned premiums rose 23.1% to $236.1 million, and the combined ratio improved to 101.9% from 118.5%, which the company linked to prior-year growth and a severe weather event in the first quarter of 2023. The board also declared a $0.90 per share quarterly dividend payable June 14, 2024.
Net income of $20.1 million, or $1.36 per diluted share, versus a net loss of $12.3 million, or $0.84 per diluted share, in Q1 2023
Net earned premiums rose 23.1% to $236.1 million; combined ratio improved to 101.9% from 118.5%
Q1 2023 losses included $32.1 million from a severe weather event
Quarterly dividend of $0.90 per share payable June 14, 2024, to holders of record on June 3, 2024
Duolingo reported first-quarter 2024 results on May 8, 2024, with revenue of $167.6 million, up 45% from a year earlier, and net income of $27.0 million, compared with a net loss of $2.6 million in the prior-year quarter. The company raised its full-year 2024 guidance for bookings, revenue and Adjusted EBITDA. A director, Laela Sturdy, also resigned from the board and its Audit and Mergers and Acquisition committees effective May 6, 2024, and the filing says her resignation was not due to any disagreement with the company.
Total bookings were $197.5 million, up 41%, and paid subscribers reached 7.4 million, up 54%.
Net income was $27.0 million versus a net loss of $2.6 million a year earlier; Adjusted EBITDA margin was 26.3% versus 13.1%.
Full-year 2024 revenue guidance is $726.5 million to $735.5 million, and bookings guidance is $808.5 million to $817.5 million.
Director Laela Sturdy resigned from the board and its Audit and Mergers and Acquisition committees, effective May 6, 2024.
Airbnb reported first-quarter 2024 revenue of $2.14 billion, up 18% from a year earlier, and net income of $264 million, up 126% from $117 million in Q1 2023. The company also guided to second-quarter 2024 revenue of $2.68 billion to $2.74 billion, which it said implies 8% to 10% year-over-year growth, and it expects that growth to accelerate in Q3 2024.
Q1 2024 revenue was $2.14 billion, up 18% year-over-year, helped in part by the timing of Easter
Net income was $264 million, up from $117 million in Q1 2023; net income margin was 12% versus 6%
Adjusted EBITDA was $424 million with a 20% margin, compared with $262 million and 14% in Q1 2023
Q2 2024 revenue outlook is $2.68 billion to $2.74 billion, implying 8% to 10% year-over-year growth; the company repurchased $750 million of Class A stock in Q1 2024
Vericel reported first quarter 2024 total revenue of $51.3 million, up 25% from $41.0 million a year earlier, and a net loss of $3.9 million, or $0.08 per diluted share, versus a $7.5 million loss in the prior-year quarter. The company raised its full-year 2024 revenue guidance to $238 million to $242 million from $237 million to $241 million.
Total net revenue rose 25% to $51.3 million for the quarter ended March 31, 2024, with MACI at $40.2 million and Burn Care at $11.1 million.
Net loss narrowed to $3.9 million, or $0.08 per diluted share, from $7.5 million, or $0.16 per diluted share, a year earlier.
Non-GAAP adjusted EBITDA rose 325% to $7.2 million, or 14% of net revenue.
2024 total net revenue guidance was raised to $238 million to $242 million; gross margin (about 70%) and adjusted EBITDA margin (about 20%) guidance was maintained.
The New York Times Company reported first-quarter 2024 results, with total revenues up 5.9% year-over-year to $594.0 million and operating profit up 73.2% to $48.3 million. Diluted earnings per share were $0.24, compared with $0.13 a year earlier, and the company gave second-quarter revenue and adjusted operating cost guidance.
Total revenues rose 5.9% to $594.0 million from $560.7 million; digital-only subscription revenues rose 13.2% to $293.0 million.
Net income was $40.4 million versus $22.3 million, and diluted EPS was $0.24 versus $0.13.
Digital-only subscribers reached 9.91 million, a net increase of 210,000 in the quarter.
Second-quarter guidance: digital-only subscription revenues up 11% to 14%, and adjusted operating costs up 4% to 5%.
NiSource reported first quarter 2024 GAAP net income available to common shareholders of $344.3 million, or $0.77 per diluted share, up from $319.2 million, or $0.71 per share, a year earlier. The company reaffirmed its 2024 adjusted EPS guidance of $1.70-1.74 and raised its 2024-2028 base capital expenditure plan to $16.4 billion, a $400 million increase, without incremental equity issuance.
Q1 2024 GAAP net income available to common shareholders was $344.3 million, or $0.77 per diluted share, versus $0.71 a year earlier
Q1 2024 adjusted EPS was $0.85, compared with $0.77 in Q1 2023
2024 adjusted EPS guidance of $1.70-1.74 reaffirmed; 2023-2028 adjusted EPS growth of 6-8% a year reaffirmed
2024-2028 base capital expenditure plan increased to $16.4 billion from $16 billion
RingCentral reported first quarter 2024 results on May 7, 2024, with total revenue up 9% year-over-year to $584 million and diluted non-GAAP net income per share of $0.87, compared with $0.76 a year earlier. The company raised its full-year 2024 revenue and non-GAAP EPS guidance and increased its share repurchase authorization by $250 million. The filing also discloses a routine board committee assignment for director Prat Bhatt.
Q1 2024 total revenue was $584 million, up from $534 million; GAAP net loss per share narrowed to $0.31 from $0.57.
2024 total revenue guidance raised to $2.379 billion to $2.399 billion; non-GAAP EPS guidance raised to $3.59 to $3.67.
Board increased the share repurchase authorization by $250 million; about $375 million remains under the total authorization.
Director Prat Bhatt was appointed to the Compensation Committee on May 1, 2024.
Protagonist reported first-quarter 2024 net income of $207.3 million, or $3.41 per basic share, compared with a net loss of $33.7 million a year earlier. The results were driven mainly by $255.0 million of license and collaboration revenue from the Takeda rusfertide agreement, and cash, cash equivalents and marketable securities were $322.6 million at March 31, 2024, down from $341.6 million at December 31, 2023.
Net income of $207.3 million, or $3.41 per basic share, versus a net loss of $33.7 million, or $0.67 per share, in Q1 2023.
License and collaboration revenue of $255.0 million, including $254.1 million allocated to the rusfertide license delivered to Takeda on March 15, 2024.
Cash, cash equivalents and marketable securities of $322.6 million at March 31, 2024, versus $341.6 million at December 31, 2023.
G&A expense of $14.9 million included $4.6 million in advisory and legal fees related to the Takeda collaboration; R&D expense was $33.7 million.
Veeco reported first quarter 2024 revenue of $174.5 million, up from $153.5 million a year earlier, and GAAP net income of $21.9 million, or $0.37 per diluted share, versus $8.7 million, or $0.17, in the prior-year quarter. The company guided second quarter 2024 revenue to $165 million to $185 million and non-GAAP diluted EPS to $0.38 to $0.48.
Q1 2024 revenue $174.5 million vs. $153.5 million in Q1 2023
Q1 2024 GAAP diluted EPS $0.37 vs. $0.17; non-GAAP diluted EPS $0.45 vs. $0.30
Q2 2024 guidance: revenue $165 million to $185 million; GAAP diluted EPS $0.22 to $0.33
Q1 2024 cash flow from operations was $9 million vs. $29 million in Q4 2023
Twilio reported first quarter 2024 revenue of $1.05 billion, up 4% year over year, and a GAAP loss from operations of $44 million, compared with a $264 million loss a year earlier. The company raised its full-year 2024 non-GAAP income from operations guidance to $585 million to $635 million and initiated second quarter guidance for revenue of $1,050 million to $1,060 million, which the filing says is 1% to 2% growth.
Q1 2024 non-GAAP income from operations was $160 million, versus $104 million in Q1 2023; GAAP net loss narrowed to $55 million ($0.31 per share) from $342 million ($1.84 per share).
Full-year 2024 non-GAAP income from operations guidance raised to $585 million to $635 million; organic revenue growth guidance of 5% to 10% was reaffirmed.
Q2 2024 guidance: revenue of $1,050 million to $1,060 million and non-GAAP income from operations of $135 million to $145 million.
Board authorized an additional $2.0 billion of share repurchases in March 2024; the company says about $1.5 billion has been completed and it targets the remaining $1.5 billion before the end of 2024.
Penumbra reported first-quarter 2024 revenue of $278.7 million, up 15.4% from a year earlier, and GAAP net income of $11.0 million, or $0.28 per diluted share, compared with $8.6 million, or $0.22, in the first quarter of 2023. The company reiterated its full-year 2024 revenue guidance of $1,230.0 million to $1,270.0 million, which reflects 16% to 20% growth.
Revenue of $278.7 million, up 15.4% from $241.4 million; U.S. revenue rose 22.0% while international revenue fell 0.7%.
GAAP net income of $11.0 million, or $0.28 per diluted share, versus $8.6 million, or $0.22, a year earlier.
Operating expenses included $4.8 million in non-recurring litigation-related expenses in the first quarter of 2024.
Full-year 2024 total revenue guidance of $1,230.0 million to $1,270.0 million was reiterated, and U.S. thrombectomy growth guidance of 27% to 30% was also kept.
Qualys reported first-quarter 2024 revenue of $145.8 million, up 12% from a year earlier, and GAAP diluted EPS of $1.05 versus $0.77. The company raised its full-year 2024 GAAP EPS guidance to $3.26 to $3.50 and non-GAAP EPS guidance to $5.06 to $5.30, while narrowing its full-year revenue guidance to $601.5 million to $608.5 million. For shareholders, the filing points to higher profit and a higher earnings outlook for 2024.
Q1 2024 revenue of $145.8 million, up 12% from $130.7 million in Q1 2023
GAAP net income of $39.7 million, or $1.05 per diluted share, versus $0.77 a year earlier
Full-year 2024 GAAP EPS guidance raised to $3.26 to $3.50 from $3.11 to $3.43
Second-quarter 2024 revenue guidance of $147.5 million to $149.5 million
Bentley Systems reported first-quarter 2024 revenue of $337.8 million, up 7.4% from a year earlier, with net income rising to $70.3 million from $45.5 million. The CFO said the strong start puts the company in a good position to achieve its full-year outlook, and the filing reiterates that COO Nicholas Cumins will succeed Greg Bentley as CEO on July 1.
Diluted EPS was $0.22 versus $0.14 a year earlier; adjusted EPS was $0.31 versus $0.25.
Operating income margin was 27.2% versus 20.9%, and cash flow from operations was $205.0 million versus $176.2 million.
Annualized recurring revenues reached $1,186.5 million, up 11% on a constant currency basis.
Last twelve-month dollar-based net retention rate was 108%, down from 110% a year earlier.
Dorman Products reported first quarter 2024 results for the period ended March 30, 2024, with net sales of $468.7 million, up 0.4% from $466.7 million a year earlier. Diluted EPS rose to $1.05 from $0.18, and adjusted diluted EPS rose to $1.31 from $0.56. The company confirmed its full-year 2024 guidance, including diluted EPS of $4.71 to $5.01 and adjusted diluted EPS of $5.40 to $5.70.
Net sales were $468.7 million, up 0.4% from $466.7 million; Light Duty sales rose 3% while Heavy Duty fell 15%
Diluted EPS was $1.05 versus $0.18; adjusted diluted EPS was $1.31 versus $0.56
Operating cash flow was $52 million; the company repaid $15 million of debt and repurchased $27 million of shares
Full-year 2024 guidance was confirmed, with net sales growth of 3% to 5% and adjusted diluted EPS of $5.40 to $5.70
Datadog reported first-quarter 2024 revenue of $611 million, up 27% year-over-year, and GAAP net income of $42.6 million compared with a loss a year earlier. The company also said President Amit Agarwal will step down effective December 31, 2024, and is expected to join the Board afterward, which is a senior leadership change for shareholders to track.
Q1 2024 revenue was $611 million, up 27% year-over-year; about 3,340 customers had ARR of $100,000 or more, up 15% from about 2,910 a year earlier.
GAAP net income was $42.6 million, or $0.12 per diluted share, versus a net loss of $24.1 million in Q1 2023; non-GAAP net income per diluted share was $0.44.
Second quarter 2024 revenue guidance is $620 million to $624 million; full year 2024 revenue guidance is $2.59 billion to $2.61 billion.
Amit Agarwal will remain President until December 31, 2024, and the Board intends to increase its size from eight to nine to appoint him.
Urban Edge Properties reported first-quarter 2024 net income attributable to common shareholders of $2.6 million, or $0.02 per diluted share, compared with a net loss of $19.1 million a year earlier. FFO as Adjusted was $0.33 per diluted share, up from $0.32, and the company raised its full-year 2024 FFO as Adjusted guidance by $0.03 per share at the midpoint to $1.27 to $1.32 per diluted share. For shareholders, the higher guidance points to improved expected core operating earnings for 2024.
Q1 2024 net income attributable to common shareholders was $2.6 million, or $0.02 per diluted share, versus a net loss of $19.1 million in Q1 2023.
Q1 2024 FFO as Adjusted was $0.33 per diluted share, up from $0.32 in Q1 2023; same-property NOI growth was 2.2%.
2024 FFO as Adjusted guidance was raised to $1.27 to $1.32 per diluted share from $1.24 to $1.29.
The company acquired Ledgewood Commons for $83 million on April 5, 2024, and Heritage Square for $34 million on February 8, 2024.
Primerica reported first quarter 2024 results on May 6, 2024, with diluted earnings per share of $3.93, up 14%, and total revenues of $742.8 million, up 8%. Diluted adjusted operating EPS was $3.91, up 10%, and the company expects a $50 million gain in the second quarter from an insurance claim, which it will exclude from adjusted results. Profit growth is the main takeaway for shareholders, though the Senior Health segment posted a $14 million loss.
Net income of $137.9 million rose 8%; diluted EPS of $3.93 rose 14% from $3.46 a year earlier
Senior Health reported a loss of $14 million; Term Life adjusted operating revenues rose 5% to $440.4 million
Investment and Savings Products sales reached $2.8 billion, up 20%; client asset values ended the quarter at $103 billion
Board declared a $0.75 per share dividend payable June 12, 2024; the company repurchased $109 million of stock in the quarter
J&J Snack Foods reported fiscal second-quarter 2024 results for the period ended March 30, 2024, with net sales of $359.7 million, up 6.5% from a year earlier. Net earnings rose 94.0% to $13.3 million, and diluted EPS was $0.69, and the company said gross margin improved to 30.1%. The results show higher sales and profit for shareholders, though the company also reported $2.3 million in one-time distribution transition costs.
Net sales were $359.7 million, up 6.5%, the highest fiscal second-quarter sales in company history according to management
Net earnings were $13.3 million and diluted EPS was $0.69, compared with $6.9 million and $0.36 in the prior-year quarter
Gross margin rose to 30.1% from 26.8%, and Retail segment sales grew 14.1% to $52.9 million
Results included $2.3 million in one-time transition expenses tied to the Arizona distribution center; a conference call is set for May 7, 2024 at 10:00 a.m. Eastern
Boise Cascade reported first quarter 2024 net income of $104.1 million, or $2.61 per diluted share, on sales of $1.6 billion, compared with $96.7 million, or $2.43 per share, on sales of $1.5 billion a year earlier. Shareholders also elected eleven directors and approved the advisory compensation vote and the KPMG LLP appointment at the May 2, 2024 annual meeting.
Net income $104.1 million, up 8% from $96.7 million; diluted EPS $2.61 vs. $2.43
Sales $1.6 billion ($1,645.4 million), up 7%; Adjusted EBITDA $168.5 million, up 6%
Board declared a quarterly dividend of $0.20 per share on May 2, 2024, payable June 17, 2024
Shareholders elected eleven directors and ratified KPMG LLP as auditor for 2024
Apple Hospitality REIT reported first-quarter 2024 net income of $54 million, up 64% from a year earlier, on total revenue of $329.5 million, up from $311.5 million. The company raised the midpoint of its full-year 2024 net income guidance by $16 million, attributing the increase to its March acquisition of the AC Hotel Washington DC Convention Center. Comparable hotel adjusted EBITDA fell 3.2%, while comparable RevPAR was flat at $111.09.
Q1 2024 net income was $54 million, or $0.22 per share, versus $33 million, or $0.14 per share, in Q1 2023.
Adjusted EBITDAre was $101 million, up 6% from Q1 2023; MFFO was $83 million, up 5%.
2024 net income guidance is $207 million to $233 million, with the midpoint raised by $16 million; Adjusted EBITDAre guidance is $461 million to $483 million, with the midpoint raised by $9 million.
Comparable Hotels Adjusted Hotel EBITDA fell 3.2% to $111.7 million; the company's April 2024 occupancy was approximately 80%.
Artivion reported first-quarter 2024 revenue of $97.4 million, up 17% from $83.2 million a year earlier, and net income of $7.5 million, or $0.18 per diluted share, compared with a net loss of $13.5 million a year earlier. The company raised the low end of its full-year 2024 revenue guidance to $386 million to $396 million, while its adjusted EBITDA forecast of $68 million to $72 million was unchanged.
Q1 2024 revenue $97.4 million, up 17% on a GAAP basis and 16% in constant currency
Net income $7.5 million ($0.18 per diluted share) vs. net loss of $13.5 million ($0.33 per share) in Q1 2023; non-GAAP net income $2.6 million ($0.06 per share)
Non-GAAP adjusted EBITDA rose 60% to $17.3 million from $10.8 million
FY2024 revenue guidance $386 million to $396 million (previously $382 million to $396 million); adjusted EBITDA guidance $68 million to $72 million unchanged
NAPCO reported fiscal third-quarter 2024 results (quarter ended March 31, 2024) with net sales up 13% to $49.3 million and net income up 38% to $13.2 million, or $0.36 per diluted share. The company also announced management changes, including Kevin Buchel's promotion to President and Chief Operating Officer while he remains Chief Financial Officer, and declared a $0.10 per share quarterly dividend.
Net sales rose 13% to $49.3 million; nine-month net sales rose 10% to $138.5 million
Net income rose 38% to $13.2 million ($0.36 per diluted share) versus $9.5 million a year earlier
Kevin Buchel promoted to President and COO effective May 2, 2024, keeping the CFO role; Andrew Vuono appointed SVP of Finance and Chief Accounting Officer, expected to start June 3
Quarterly dividend of $0.10 per share payable June 24, 2024 to holders of record June 3, 2024
Krystal Biotech reported its first quarter 2024 results, its first product revenue after the May 2023 FDA approval of VYJUVEK, with net product revenue of $45.3 million and net income of $0.9 million, or $0.03 per share. A year earlier the company posted a net loss of $45.3 million, or $1.76 per share. The company said it continues to expect $150 million to $175 million of non-GAAP R&D and SG&A expense for 2024.
Net product revenue was $45.3 million for the quarter ended March 31, 2024, with gross margin of 95%.
Net income was $0.9 million, or $0.03 per share, compared with a net loss of $45.3 million, or $1.76 per share, in the first quarter of 2023.
Cash, cash equivalents and investments totaled $622.3 million on March 31, 2024.
The company continues to anticipate $150 million to $175 million of 2024 non-GAAP combined R&D and SG&A expense, excluding stock-based compensation.
Jones Lang LaSalle reported first-quarter 2024 results with revenue of $5.1 billion, up 9% from a year earlier, and net income attributable to common shareholders of $66.1 million, compared with a loss of $9.2 million in the prior-year quarter. Free cash flow was an outflow of $720.7 million, an improvement from the $765.6 million outflow in the first quarter of 2023, while net debt rose from December 31, 2023, which the company attributed to annual incentive compensation payments.
Revenue was $5,124.5 million, up 9% from $4,715.5 million in the first quarter of 2023.
Diluted earnings per share were $1.37, compared with a loss of $0.19; adjusted diluted earnings per share were $1.78, compared with $0.71.
Total net debt was $1,900.8 million at March 31, 2024, up from $1,150.3 million at December 31, 2023, and the company repurchased 110,726 shares for $20.1 million in the quarter.
Essent Group reported first-quarter 2024 net income of $181.7 million, or $1.70 per diluted share, up from $170.8 million, or $1.59 per diluted share, a year earlier. Total revenues rose to $298.4 million from $256.2 million, while new insurance written fell to $8.3 billion from $12.9 billion in the first quarter of 2023. The board also declared a $0.28 quarterly dividend.
Net income of $181.7 million, or $1.70 per diluted share, versus $170.8 million, or $1.59, in Q1 2023
Total revenues of $298.4 million, versus $256.2 million in Q1 2023
New insurance written of $8.3 billion, down from $12.9 billion in Q1 2023 and $8.8 billion in Q4 2023
Quarterly cash dividend of $0.28 per share, payable June 10, 2024, to holders of record on May 31, 2024
Saul Centers reported first-quarter 2024 results, with total revenue of $66.7 million, up from $63.0 million a year earlier. Net income available to common stockholders was $10.8 million, or $0.45 per share, matching the prior-year figure, so higher rental income did not lift per-share earnings.
Total revenue for the quarter ended March 31, 2024 was $66.7 million, versus $63.0 million in the 2023 quarter.
Net income rose to $18.3 million from $17.7 million; net income available to common stockholders was $10.8 million, or $0.45 per share, unchanged from the prior year.
FFO available to common stockholders and noncontrolling interests was $0.80 per diluted share, versus $0.79 a year earlier; the commercial portfolio was 94.6% leased versus 93.9%.
Bright Horizons Family Solutions reported first quarter 2024 revenue of $623 million, up 12% from a year earlier, and net income of $17 million, or $0.29 per diluted share, versus $0.14 a year earlier. The company reaffirmed its 2024 guidance of $2.6 billion to $2.7 billion in revenue and $3.00 to $3.20 in diluted adjusted earnings per share, which gives shareholders a clear view that results are tracking the company's full-year plan.
Revenue of $623 million, up 12% from the first quarter of 2023, driven by enrollment gains, tuition increases and higher back-up care utilization
Income from operations of $40 million, up 30%; net income of $17 million versus $8.1 million a year earlier
Diluted adjusted earnings per share of $0.51 versus $0.49 in the first quarter of 2023
2024 guidance reaffirmed: revenue of $2.6 billion to $2.7 billion and diluted adjusted earnings per share of $3.00 to $3.20; results were discussed on a conference call held May 2, 2024
Fortinet reported first-quarter 2024 results for the period ended March 31, 2024, with total revenue of $1.35 billion, up 7.2% from a year earlier, and GAAP net income of $299.3 million, up from $247.7 million. The company also issued second-quarter and full-year 2024 revenue and non-GAAP earnings per share guidance, which shareholders can use to compare future results.
Total revenue was $1.35 billion, up 7.2% from $1.26 billion; service revenue rose 24.0% to $944.4 million while product revenue fell 18.3% to $408.9 million.
GAAP diluted net income per share was $0.39 versus $0.31; non-GAAP diluted net income per share was $0.43 versus $0.34.
Total billings fell 6.4% to $1.41 billion, and free cash flow was $608.5 million versus $647.2 million a year earlier.
Second-quarter 2024 revenue guidance is $1.375 billion to $1.435 billion; full-year 2024 revenue guidance is $5.745 billion to $5.845 billion.
Palomar Holdings reported first quarter 2024 net income of $26.4 million, or $1.04 per diluted share, up from $17.3 million, or $0.68 per diluted share, a year earlier. Gross written premiums rose 47.2% to $368.1 million, and the company raised its full-year 2024 adjusted net income guidance to $113 million to $118 million, which shareholders would see as a higher outlook for profit.
Net income of $26.4 million ($1.04 diluted EPS) for Q1 2024, versus $17.3 million ($0.68) in Q1 2023
Adjusted net income of $27.8 million ($1.09 diluted adjusted EPS), versus $20.4 million ($0.80) a year earlier
Full-year 2024 adjusted net income guidance raised to $113 million to $118 million
Combined ratio of 76.9% versus 77.9% in Q1 2023; no share repurchases in Q1 2024
Universal Display reported first quarter 2024 total revenue of $165.3 million, up from $130.5 million a year earlier, and net income of $56.9 million, or $1.19 per diluted share, compared with $0.83 a year earlier. The company raised the lower end of its 2024 revenue guidance to a range of $635 million to $675 million and declared a $0.40 per share quarterly dividend.
Q1 2024 total revenue was $165.3 million versus $130.5 million in Q1 2023; royalty and license fees were $68.3 million and material sales were $93.3 million
Net income was $56.9 million, or $1.19 per diluted share, versus $39.8 million, or $0.83 per diluted share, a year earlier
2024 revenue guidance is $635 million to $675 million after the lower end was increased; the company cautions that many variables can affect results
Second quarter cash dividend of $0.40 per share is payable June 28, 2024 to holders of record as of June 14, 2024
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