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).
UiPath reported first quarter fiscal 2025 revenue of $335 million, up 16% year-over-year, and annualized recurring revenue (ARR) of $1.508 billion, up 21%. The company also updated its fiscal 2025 guidance, citing increased deal scrutiny and longer sales cycles for large multi-year deals, and said CEO Rob Enslin is resigning effective June 1, 2024, with founder Daniel Dines returning as CEO.
Q1 fiscal 2025 revenue of $335 million, up 16% year-over-year; ARR of $1.508 billion, up 21%
GAAP operating loss of $49 million vs. $46 million a year earlier; net loss of $28.7 million vs. $31.9 million
Full-year fiscal 2025 revenue guidance of $1.405 billion to $1.410 billion; non-GAAP operating income of approximately $145 million
Rob Enslin resigns as CEO effective June 1, 2024; Daniel Dines re-appointed CEO effective the same date
Cavco Industries reported fiscal fourth-quarter net revenue of $420 million, down 11.8%, and net income attributable to common stockholders of $34 million, down 28.3%. For the fiscal year ended March 30, 2024, net revenue was $1.8 billion, down 16.2%, and diluted earnings per share were $18.37 compared with $26.95, as lower home sales volume and lower selling prices reduced results for shareholders.
Fourth-quarter diluted EPS was $4.03 versus $5.39 a year earlier; factory-built housing gross margin was 22.4% versus 24.4%.
Full-year net revenue was $1,795 million versus $2,143 million, and income before income taxes was $199 million, down 35.2%.
Backlog was $191 million at March 30, 2024, down from $244 million at April 1, 2023.
Stock repurchases were approximately $110 million in the fiscal year; management will hold a conference call on May 24, 2024 at 1:00 p.m. Eastern.
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
Williams-Sonoma reported first-quarter 2024 net revenues of $1.66 billion, down from $1.76 billion a year earlier, with comparable brand revenue down 4.9%. Reported diluted EPS of $4.07 includes a $0.59 per share benefit from a $49 million out-of-period freight expense adjustment; without it, diluted EPS was $3.48, compared with $2.35 a year earlier. The company raised its fiscal 2024 operating margin outlook to 17.6% to 18.0% while reiterating its net revenue growth outlook of -3% to +3%.
Net revenues of $1.66 billion, down from $1.76 billion; comparable brand revenue -4.9%
Operating margin of 19.5% reported, or 16.6% without the out-of-period adjustment
Fiscal 2024 operating margin outlook raised to 17.6% to 18.0%; 17.0% to 17.4% without the adjustment
Returned $107 million to stockholders in the quarter, including $63 million in dividends
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
Take-Two reported fourth-quarter fiscal 2024 Net Bookings of $1.35 billion, down 3% from a year earlier, and a GAAP net loss of $2.90 billion, or $17.02 per share, driven largely by a $2.18 billion goodwill impairment. The company also gave initial fiscal 2025 guidance of $5.55 to $5.65 billion in Net Bookings and said the Grand Theft Auto VI window has narrowed to the fall of calendar 2025.
Q4 fiscal 2024 GAAP net revenue fell 3% to $1.40 billion; GAAP net loss was $2.90 billion, versus $610.3 million a year earlier
Fiscal 2024 Net Bookings rose 1% to $5.33 billion; GAAP net loss for the year was $3.74 billion, or $22.01 per share
Grand Theft Auto VI release window narrowed to Fall of Calendar 2025, from Calendar 2025, per the filing
DNOW reported first-quarter 2024 revenue of $563 million and diluted EPS of $0.19, down from $584 million and $0.28 in the year-earlier quarter. The company raised its full-year 2024 revenue outlook to mid-to-high single digit percentage growth and expects second-quarter revenue to rise 10% to 15% sequentially, while it completed the $185 million Whitco Supply acquisition and ended the quarter with no long-term debt.
Revenue was $563 million in Q1 2024, versus $584 million in Q1 2023.
Net income attributable to DNOW was $21 million, or $0.19 per diluted share, versus $31 million, or $0.28, a year earlier.
Full-year 2024 outlook raised to revenue growth in the mid-to-high single digit percentage range; second-quarter revenue expected to rise 10% to 15% sequentially.
Completed Whitco Supply acquisition for $185 million in cash; cash was $188 million and long-term debt was zero at March 31, 2024.
Metallus reported first-quarter 2024 net income of $24.0 million, or $0.52 per diluted share, up from $14.4 million, or $0.30, a year earlier, on net sales of $321.6 million, roughly flat year over year. The company expects second-quarter adjusted EBITDA to be lower than the first quarter's $43.4 million, and its board authorized an additional $100 million share repurchase program on May 6, 2024.
Q1 2024 net income $24.0 million ($0.52 diluted EPS) vs. $14.4 million ($0.30) in Q1 2023; adjusted EPS $0.56 vs. $0.44
Net sales $321.6 million, down 2% from $328.1 million in Q4 2023 and roughly flat vs. $323.5 million in Q1 2023
Second-quarter 2024 adjusted EBITDA expected to be lower than Q1's $43.4 million, with surcharge revenue per ton expected to decline
Board authorized an additional $100 million share repurchase on May 6, 2024; $132.1 million remains under authorizations
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
Medical Properties Trust reported a first-quarter net loss of $736 million ($1.23 per share), compared with net income of $33 million a year earlier, driven by $693 million in impairments tied mainly to Steward Health Care. Normalized FFO fell to $142 million ($0.24 per share) from $222 million ($0.37), and the company approved $75 million in debtor-in-possession financing after Steward filed for Chapter 11, which matters to shareholders given the sharp drop in earnings and the impairment charges.
Net loss of $736 million ($1.23 per share) vs. net income of $33 million ($0.05 per share) a year earlier; impairments of $693 million included a full reserve on an approximately $360 million Steward loan.
Normalized FFO of $142 million ($0.24 per share) vs. $222 million ($0.37) a year earlier, primarily due to a significant decrease in Steward-related revenue.
MPT approved $75 million in debtor-in-possession financing for Steward after its Chapter 11 filing; the financing is subject to bankruptcy court approval.
Executed $1.6 billion in year-to-date liquidity transactions, 80% of the initial 2024 target, and now expects to exceed the $2.0 billion target.
NETSCOUT reported fourth-quarter fiscal 2024 revenue of $203.4 million, down from $208.1 million a year earlier, and a GAAP net loss of $32.4 million, or $0.46 per share, which includes a $50.2 million non-cash goodwill impairment charge. Non-GAAP net income rose to $0.55 per share from $0.38, and the company guided fiscal 2025 revenue to $800 million to $830 million, described as flat to slightly down, with GAAP EPS of $0.58 to $0.82.
Q4 fiscal 2024 revenue was $203.4 million versus $208.1 million in Q4 fiscal 2023; GAAP net loss was $32.4 million, or $0.46 per share (diluted)
Full fiscal 2024 revenue was $829.5 million versus $914.5 million in fiscal 2023; GAAP net loss was $147.7 million, or $2.07 per share
Fiscal 2025 outlook: revenue of $800 million to $830 million; GAAP EPS of $0.58 to $0.82; non-GAAP EPS of $2.10 to $2.30
Voluntary Separation Program restructuring charges are estimated at $18 million to $22 million in fiscal 2025
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.
Sally Beauty Holdings reported fiscal second-quarter 2024 net sales of $908.4 million, down 1.1% from the prior year, with GAAP diluted earnings per share of $0.27 versus $0.37. The company updated its fiscal 2024 outlook, now expecting an adjusted operating margin of about 8.5%, and said it expects net sales and comparable sales to be roughly flat.
Q2 net sales were $908.4 million, down 1.1%; comparable sales fell 1.5%.
GAAP diluted EPS was $0.27 versus $0.37 a year earlier; adjusted diluted EPS was $0.35 versus $0.41.
Fiscal 2024 guidance: gross margin of 50.5% to 51.0%, adjusted operating margin about 8.5%, operating cash flow about $240 million.
The company issued a $600 million note due 2032 at a 6.75% coupon to refinance its $680 million note due 2025.
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.
STERIS reported fiscal 2024 fourth-quarter revenue up 10% to $1.5 billion and full-year revenue up 12% to $5.5 billion, and announced a targeted restructuring plan with approximately $100 million in pre-tax charges. The fourth-quarter U.S. GAAP result was a net loss of $1.4 million, or $0.01 per diluted share, compared with net income of $187.2 million a year earlier, as results were negatively impacted by a $206.4 million pre-tax loss tied to the Dental segment and $44.4 million of restructuring charges. The company expects fiscal 2025 adjusted earnings per diluted share of $9.05 to $9.25, compared with $8.20 in fiscal 2024.
Q4 fiscal 2024 revenue rose 10% to $1.5 billion; Q4 U.S. GAAP net loss was $1.4 million, or $0.01 per diluted share, versus net income of $187.2 million a year earlier.
Full-year fiscal 2024 U.S. GAAP EPS was $3.81, up from $1.07; adjusted EPS was $8.83, up from $8.20.
Restructuring plan carries about $100 million in pre-tax charges, with $44.4 million recorded in Q4 and the balance in fiscal 2025; about $50 million is non-cash.
Fiscal 2025 outlook calls for revenue from continuing operations to rise 6.5% to 7.5% and adjusted EPS of $9.05 to $9.25.
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.
Crane NXT reported first-quarter 2024 net sales of $313.6 million, down 4.7% from a year earlier, with GAAP EPS of $0.66 versus $0.77 and Adjusted EPS of $0.85 versus $0.98. It completed the $270 million cash acquisition of OpSec Security on May 3, 2024, and raised full-year 2024 sales growth guidance to 5% to 8% from -1% to +3%, while reaffirming Adjusted EPS guidance of $4.10 to $4.35.
Q1 2024 net sales were $313.6 million, down $15.5 million or 4.7%; core sales fell 4.2%, mainly from lower volumes at Crane Payment Innovations.
GAAP EPS was $0.66 versus $0.77; Adjusted EPS was $0.85 versus $0.98.
Full-year 2024 sales growth guidance was raised to 5% to 8% from -1% to +3%, reflecting the OpSec acquisition; Adjusted EPS guidance of $4.10 to $4.35 was unchanged.
Quarterly dividend of $0.16 per share declared, payable June 12, 2024 to holders of record as of May 31, 2024.
Sunrun reported first-quarter 2024 revenue of $458.2 million, down 22% from a year earlier, as more customers chose subscription agreements that recognize revenue over time. Net loss attributable to common stockholders narrowed to $87.8 million, or $0.40 per share, from $240.4 million, or $1.12 per share, a year earlier. The company cut its full-year 2024 solar installation and value-generated guidance while reiterating its cash generation target, which matters to shareholders because the revenue decline and lower guidance weigh against the narrower loss.
Total revenue was $458.2 million, down $131.6 million or 22% from Q1 2023; customer agreements and incentives revenue rose 31% to $323.0 million.
Net loss attributable to common stockholders was $87.8 million, or $0.40 per share, versus $240.4 million, or $1.12 per share, in Q1 2023.
Full-year 2024 Solar Energy Capacity Installed guidance was cut to a 15% decline to flat growth, from -5% to +5%.
Cash Generation was negative $311 million in Q1; management reiterated a $200 million to $500 million annualized run-rate target for Q4 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.
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.
Griffon reported fiscal second-quarter 2024 revenue of $672.9 million, down 5% from the prior year, while net income was $64.1 million, or $1.28 per diluted share, compared with a net loss of $62.3 million a year earlier. The company raised its full-year 2024 segment EBITDA guidance to $555 million from $525 million and its revenue outlook to $2.65 billion from $2.6 billion, which would benefit shareholders if achieved.
Q2 revenue was $672.9 million, down 5% from $711.0 million in the prior year quarter.
Net income was $64.1 million, or $1.28 per diluted share, versus a net loss of $62.3 million, or $1.17 per share, a year earlier.
Adjusted earnings per share were $1.35, compared with $1.21 in the prior year quarter.
2024 outlook: segment adjusted EBITDA raised to $555 million from $525 million; revenue raised to $2.65 billion from $2.6 billion.
Reynolds Consumer Products reported first-quarter 2024 net income of $49 million, up from $17 million a year earlier, and diluted EPS of $0.23 versus $0.08. Net revenues fell 5% to $833 million from $874 million, and the company raised its full-year 2024 net income outlook while reiterating its net revenue and Adjusted EBITDA outlook. Shareholders get higher profit and a higher net income outlook, but revenue is declining and the second-quarter revenue outlook is below the prior-year level.
Q1 2024 net revenues were $833 million vs. $874 million in Q1 2023; retail net revenues fell 3% to $794 million.
Q1 net income was $49 million vs. $17 million; Adjusted EBITDA was $122 million vs. $82 million.
Full-year 2024 net income outlook raised to $341 million to $357 million from $331 million to $347 million; EPS outlook raised to $1.62 to $1.70 from $1.57 to $1.65.
Board approved a quarterly dividend of $0.23 per share, payable May 31, 2024, to holders of record as of May 17, 2024.
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.
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.
ICU Medical reported first quarter 2024 revenue of $566.7 million, down slightly from $568.6 million a year earlier, and a GAAP net loss of $39.5 million, or $1.63 per diluted share, versus a $9.8 million loss, or $0.41 per share, in the first quarter of 2023. Adjusted diluted earnings per share fell to $0.96 from $1.74, and adjusted EBITDA fell to $78.8 million from $102.0 million, so headline profit measures declined for shareholders.
Q1 2024 revenue was $566.7 million versus $568.6 million in Q1 2023.
GAAP net loss was $39.5 million, or $1.63 per diluted share, versus a $9.8 million loss, or $0.41 per share, a year earlier.
Adjusted diluted EPS was $0.96 versus $1.74; adjusted EBITDA was $78.8 million versus $102.0 million.
The filing includes a fiscal year 2024 outlook showing a GAAP net loss of $127 million to $110 million and adjusted diluted EPS of $4.40 to $5.10.
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
Cirrus Logic reported fiscal fourth-quarter 2024 revenue of $371.8 million, above the top end of its guidance range, and GAAP earnings per share of $0.81 compared with a loss of $0.97 a year earlier. Revenue fell 40 percent from the prior quarter, and the company guided June quarter revenue to $290 million to $350 million, which is down 14 percent sequentially at the midpoint.
Q4 FY24 revenue of $371.8 million, down 40 percent quarter over quarter and approximately flat year over year
Q4 GAAP diluted EPS of $0.81 versus a loss of $0.97 a year earlier; non-GAAP EPS of $1.24 versus $0.92
FY24 revenue of $1.79 billion, down six percent; GAAP EPS of $4.90 versus $3.09
Q1 FY25 guidance: revenue of $290 million to $350 million and GAAP gross margin of 49 to 51 percent
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.
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
AECOM reported second-quarter fiscal 2024 results for the quarter ended March 31, 2024, with revenue up 13% to $3.9 billion, while net income from continuing operations fell 6% to $111 million and diluted EPS fell 4% to $0.81 as reported. The company raised its fiscal 2024 adjusted EBITDA guidance, which matters to shareholders because it signals management's confidence in the full year despite a $103 million loss from discontinued operations.
Revenue rose 13% to $3.9 billion; net service revenue rose 8% to $1.8 billion.
Fiscal 2024 adjusted EBITDA guidance raised to between $1,070 million and $1,105 million; adjusted EPS guidance is $4.35 to $4.55.
As-reported diluted EPS fell 4% to $0.81; a $103 million loss related to the 2021 civil construction business sale was recorded in discontinued operations.
The company returned $145 million to shareholders in the first half of fiscal 2024 through share repurchases and dividends.
Interface reported first-quarter 2024 net sales of $289.7 million, down 2.0% from a year earlier, while GAAP and adjusted earnings per share rose to $0.24 from a GAAP loss of $0.01 a year earlier. The company raised its full-year 2024 net sales guidance to $1.29 billion to $1.31 billion, which matters to shareholders because it signals management's updated view of the year's top line.
Q1 2024 net sales were $289.7 million, down 2.0% from $295.8 million; currency neutral orders rose 5.1%.
GAAP net income was $14.2 million, or $0.24 per diluted share, versus a GAAP net loss of $0.7 million, or $0.01 per share, in Q1 2023.
Gross profit margin was 38.1%, up 569 basis points year-over-year, driven mainly by input cost deflation and higher prices.
Full-year 2024 net sales guidance is $1.29 billion to $1.31 billion; Q2 2024 net sales guidance is $335 million to $345 million.
MP Materials reported first-quarter 2024 results with revenue down 49% year over year to $48.7 million, as realized rare earth oxide prices fell 54% and sales volumes fell 9%. Net income fell 56% to $16.5 million, helped by a $46.3 million gain on early debt repayment, and Adjusted EBITDA swung to a $(1.2) million loss. For shareholders, the results show weaker profitability, while the company also repurchased 7.3% of its shares and issued $747.5 million of new convertible notes due 2030.
Revenue fell to $48.7 million from $95.7 million, driven by a 54% drop in realized price per REO metric ton to $4,294.
Diluted EPS was $(0.08) versus $0.20 a year earlier; Adjusted Diluted EPS was $(0.04) versus $0.27.
Adjusted EBITDA was $(1.2) million versus $58.7 million, with higher cost of sales and a $6.0 million reserve tied to Stage II start-up.
In March 2024 the company repurchased 13.0 million shares, or 7.3% of shares outstanding, at $15.43 per share, and issued $747.5 million of 3.0% convertible notes due 2030.
Cohu reported fiscal first-quarter 2024 net sales of $107.6 million, down from $179.4 million a year earlier, and a GAAP net loss of $14.6 million, or $0.31 per share, compared with net income of $15.7 million a year earlier. The company guided second-quarter 2024 sales to $105 million, plus or minus $6 million, so shareholders face a weaker revenue base and a GAAP loss in the latest quarter.
First-quarter net sales of $107.6 million, versus $179.4 million in Q1 FY 2023 and $137.2 million in Q4 FY 2023
GAAP net loss of $14.6 million, or $0.31 per share; non-GAAP net income of $0.6 million, or $0.01 per share
Second-quarter 2024 sales expected at $105 million, plus or minus $6 million
Repaid remaining Term Loan B on February 9, 2024 with a $29.3 million payment; repurchased 333,504 shares for about $10.7 million
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
AMETEK reported first-quarter 2024 sales of $1.74 billion, up 9% from a year earlier, and adjusted earnings of $1.64 per diluted share, up 10%. The company raised its 2024 adjusted earnings per share guidance to $6.74 to $6.86 from $6.70 to $6.85, which benefits shareholders if the outlook holds.
First-quarter sales of $1.74 billion, up 9% from the first quarter of 2023
GAAP diluted EPS of $1.34 versus $1.32 a year earlier; adjusted EPS of $1.64 versus $1.49
2024 adjusted EPS guidance raised to $6.74 to $6.86 from $6.70 to $6.85
Paragon Medical integration costs of $29.2 million pre-tax weighed on GAAP results
XPEL reported first-quarter 2024 results for the three months ended March 31, with revenue up 5.0% to $90.1 million but net income down 41.7% to $6.7 million. The company cut its annual revenue growth projection to 8-10% from 15%, and management attributed the weakness mainly to slower US aftermarket demand, port delays, and lower China sales. Shareholders face weaker profitability and a lower growth outlook, though management said April showed some momentum.
Revenue rose 5.0% to $90.1 million; net income fell 41.7% to $6.7 million, or $0.24 per diluted share, versus $0.41 a year earlier
About $1.6 million of annual dealer conference costs fell in Q1 2024, versus Q2 in 2023; normalized net income would have declined 30.7%
2024 annual revenue growth projection revised to 8-10% from 15%; China revenue fell 78.2% to $1.5 million
Cummins reported first-quarter 2024 revenue of $8.4 billion, down 1% from a year earlier, while net income attributable to Cummins rose to $2.0 billion, mainly because of a $1.3 billion non-taxable gain from the March 18 divestiture of its remaining Atmus stake. The company raised its 2024 EBITDA guidance to 14.5% to 15.5% of sales but left its revenue decline forecast of 2% to 5% unchanged, and EBITDA excluding special items fell to $1.3 billion from $1.4 billion.
Q1 revenue was $8.4 billion, down 1% from Q1 2023; diluted EPS was $14.03 versus $5.55 a year earlier.
The results include a $1.3 billion gain ($9.08 per diluted share) from the Atmus separation and $29 million of restructuring expenses.
EBITDA excluding special items was $1.3 billion, or 15.5% of sales, compared with $1.4 billion, or 16.3%, in Q1 2023.
2024 guidance: revenue to fall 2% to 5% (unchanged), and EBITDA raised to 14.5% to 15.5% of sales from 14.4% to 15.4%.
Church & Dwight reported first-quarter 2024 net sales of $1,503.3 million, up 5.1%, with reported EPS of $0.93 and adjusted EPS of $0.96, above its $0.85 adjusted outlook. The company raised its full-year 2024 adjusted EPS growth expectation to 8% to 9% and its cash flow outlook to approximately $1.05 billion, but guided second-quarter adjusted EPS of $0.83, down 9.8% from the prior year.
Q1 2024 net sales rose 5.1% to $1,503.3 million; reported EPS was $0.93, up 13.4%, and adjusted EPS was $0.96, up 12.9%.
Full-year 2024 adjusted EPS growth outlook raised to 8% to 9%, from 7% to 9% previously; gross margin expansion raised to approximately 75 basis points.
Full-year cash flow from operations now expected at approximately $1.05 billion, up from $1.0 billion previously.
Q2 2024 adjusted EPS expected at $0.83 versus $0.92 in Q2 2023, with a higher tax rate of 24%.
Cognex reported first-quarter 2024 revenue of $211 million, up 5% from a year earlier, but operating income fell 36% to $14 million and net income per diluted share fell to $0.07 from $0.15. The company also named Dennis Fehr chief financial officer effective May 3, 2024, and expects second-quarter revenue of $230 million to $245 million.
Q1 2024 revenue was $211 million, up 5% from Q1 2023; excluding the Moritex acquisition and currency effects, revenue declined 3%.
GAAP net income per diluted share was $0.07 versus $0.15 a year earlier; adjusted EPS was $0.11 versus $0.13.
Q2 2024 revenue is expected to be between $230 million and $245 million.
Dennis Fehr was appointed Senior Vice President of Finance and Chief Financial Officer, effective May 3, 2024, succeeding Laura MacDonald as principal financial officer.
Rush Street Interactive reported first-quarter 2024 revenue of $217.4 million, up 34% from a year earlier, and a net loss of $2.2 million, down from $24.5 million. The company also raised its full-year 2024 Adjusted EBITDA guidance to between $50 million and $60 million, a midpoint increase of $15 million, which signals higher expected profitability for shareholders.
Q1 2024 revenue was $217.4 million, up 34% from $162.4 million in Q1 2023.
Q1 2024 net loss was $2.2 million, compared with $24.5 million in Q1 2023; net loss per share was $(0.01) versus $(0.11).
Q1 2024 Adjusted EBITDA was $17.1 million, compared with a loss of $8.7 million a year earlier.
Full-year 2024 Adjusted EBITDA guidance is $50 million to $60 million, with the midpoint raised by $15 million; revenue guidance is $810 million to $860 million, with the midpoint raised by $35 million.
Comstock Resources reported a first-quarter 2024 net loss of $14.5 million, or $0.05 per share, compared with net income of $134.5 million, or $0.49 per diluted share, a year earlier. Total revenues fell to $335.8 million from $489.6 million, and the company said continued weak natural gas prices weighed heavily on results, which matters to shareholders because earnings and cash flow both declined sharply.
Total revenues were $335.8 million, down from $489.6 million in the first quarter of 2023.
Net loss was $14.5 million, or $0.05 per share, versus net income of $134.5 million, or $0.49 per diluted share, a year earlier.
Adjusted net loss was $8.5 million, or $0.03 per share; adjusted EBITDAX was $230 million versus $293.5 million.
Average natural gas price was $2.06 per Mcf, down from $2.98, and operating cash flow was $182.0 million versus $254.9 million.
First Solar reported first quarter 2024 net sales of $794 million and diluted EPS of $2.20, down from the fourth quarter of 2023 but up sharply from a year earlier. The company kept its full-year 2024 net sales, gross margin, operating income and EPS guidance unchanged, but cut its expected year-end net cash balance to $600 million to $900 million and raised its capital expenditure forecast to $1.8 billion to $2.0 billion.
Q1 2024 net sales of $794 million, down $0.4 billion from the prior quarter and up from $548 million in Q1 2023
Diluted EPS of $2.20 versus $3.25 in Q4 2023 and $0.40 in Q1 2023; net income of $236.6 million
2024 guidance: net sales $4.4 billion to $4.6 billion and EPS $13.00 to $14.00 unchanged; net cash balance lowered to $600 million to $900 million from $0.9 billion to $1.2 billion
Capital expenditure guidance raised to $1.8 billion to $2.0 billion from $1.7 billion to $1.9 billion; cash less debt fell to $1.4 billion from $1.6 billion
Glaukos reported first quarter 2024 net sales of $85.6 million, up 16% from $73.9 million a year earlier, and raised its full-year 2024 net sales guidance to $357 million to $365 million from $350 million to $360 million. The GAAP net loss widened to $40.8 million, or $0.82 per share, from $34.6 million, or $0.72 per share, in the same period of 2023, including an $11.7 million acquired in-process R&D charge that the company excluded from its non-GAAP results.
Q1 2024 net sales were $85.6 million, up 16% on both a reported and constant currency basis.
GAAP net loss was $40.8 million, or $(0.82) per diluted share, versus $34.6 million, or $(0.72), in Q1 2023.
Non-GAAP net loss was $34.6 million, or $(0.70) per diluted share, including an $11.7 million acquired in-process R&D charge.
Cash, cash equivalents, short-term investments and restricted cash were about $278.7 million as of March 31, 2024, versus $301.3 million at December 31, 2023.
Kulicke & Soffa reported fiscal second-quarter 2024 net revenue of $172.1 million, down 0.5% from a year earlier, and a net loss of $102.7 million, or $(1.83) per diluted share, compared with net income of $15.0 million a year earlier. The loss reflects pre-tax charges tied to the cancellation of Project W, and the company expects third-quarter net revenue of about $180 million with GAAP diluted EPS of about $0.17.
Net revenue of $172.1 million, down 0.5% from $173.0 million in the same quarter last year.
Net loss of $102.7 million, or $(1.83) per diluted share; non-GAAP net loss was $53.2 million, or $(0.95) per share.
Pre-tax charges related to Project W totaled $105.5 million, including a $44.5 million impairment charge.
Third-quarter fiscal 2024 outlook: net revenue of about $180 million +/- $10 million and GAAP diluted EPS of about $0.17 +/- 10%.
Gates Industrial reported first-quarter 2024 net sales of $862.6 million, down 3.9% from a year earlier, while net income attributable to shareholders rose to $40.0 million, or $0.15 per diluted share, from $26.4 million, or $0.09. The company raised its full-year 2024 Adjusted EBITDA guidance to $745 million to $805 million from $725 million to $785 million, which matters to shareholders because it signals stronger expected profitability despite softer sales.
Q1 2024 net sales were $862.6 million, down 3.9%, with a core revenue decline of 3.6%.
Adjusted EBITDA rose to $195.6 million from $174.5 million, and the margin widened to 22.7% from 19.4%.
Adjusted EPS was $0.31 versus $0.25 a year earlier, despite a higher effective tax rate.
Full-year 2024 Adjusted EBITDA guidance was raised to $745 million to $805 million from $725 million to $785 million; other guidance metrics were unchanged.
Extreme Networks reported fiscal third-quarter 2024 results for the quarter ended March 31, 2024. Revenue fell 36.5% year over year to $211.0 million, and the company posted a GAAP net loss of $64.4 million, or $0.50 per diluted share, compared with earnings of $0.17 per share a year earlier. For shareholders, the sharp revenue decline and loss weigh on the results, though the company guided to sequential revenue growth of $250.0 million to $260.0 million for the fourth quarter.
Revenue was $211.0 million, down from $332.5 million a year earlier; SaaS ARR rose 38.0% to $162.0 million
GAAP net loss was $64.4 million ($0.50 per diluted share), versus net income of $22.1 million a year earlier
Quarter-end cash was $151.0 million; free cash flow was negative $73.6 million for the quarter
Fourth-quarter fiscal 2024 revenue guidance is $250.0 million to $260.0 million; GAAP EPS guidance is ($0.11) to ($0.05)
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