392 material Form 8-K filings that 341 companies we cover made with the SEC in July 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).
Monarch Casino & Resort reported record second-quarter 2024 net revenue of $128.1 million, up 3.6%, with diluted EPS of $1.19, up 4.4% from a year earlier. The company also declared a $0.30 per share quarterly dividend payable September 15, 2024, as part of its previously announced $1.20 annual dividend.
Net revenue rose 3.6% to $128.1 million from $123.7 million; diluted EPS was $1.19 versus $1.14.
Net income was $22.7 million, up 1.2%; adjusted EBITDA was $43.9 million, up 4.3%.
Dividend of $0.30 per share payable September 15, 2024, to holders of record on September 1, 2024.
In the second quarter, the company repurchased 452,464 shares for $30.5 million.
Oceaneering reported second-quarter 2024 net income of $35.0 million, or $0.34 per diluted share, up from $19.0 million, or $0.19, a year earlier, on revenue of $669 million, up 12%. The company narrowed its full-year 2024 adjusted EBITDA guidance to $340 million to $370 million and expects third-quarter EBITDA of $95 million to $105 million.
Q2 2024 revenue was $669 million versus $598 million in Q2 2023; net income was $35.0 million versus $19.0 million.
Adjusted net income was $28.6 million, or $0.28 per share, after $(1.0) million of pre-tax foreign exchange adjustments and $(5.5) million of discrete tax expenses.
Full-year 2024 adjusted EBITDA guidance was narrowed to $340 million to $370 million; free cash flow guidance of $110 million to $150 million was unchanged.
Manufactured Products backlog was $713 million at June 30, 2024, up $295 million year over year; ADTech operating income declined on a contract dispute reserve.
MSA Safety reported second-quarter 2024 results with net sales of $462 million, up 3% from a year earlier, and GAAP diluted EPS of $1.83 versus $1.70. Adjusted diluted EPS rose to $2.01 from $1.83, and the company maintained its mid-single-digit full-year sales growth outlook. For shareholders, the quarter shows higher sales and profit, with guidance unchanged.
Q2 2024 net sales were $462 million, up 3% reported and 4% organic constant currency
GAAP net income was $72 million, or $1.83 per diluted share, versus $67 million, or $1.70, a year earlier
Adjusted earnings were $80 million, or $2.01 per diluted share, up 10% year over year
The company is maintaining its mid-single-digit full-year sales growth outlook
Wyndham Hotels & Resorts reported second-quarter 2024 results with diluted EPS of $1.07, up from $0.82 a year earlier, and net income of $86 million, up from $70 million. The company raised its full-year adjusted diluted EPS outlook to $4.20 to $4.32 while lowering its fee-related and other revenues outlook to $1.41 to $1.43 billion and its global RevPAR outlook to approximately flat, which the company attributed to a more moderated RevPAR acceleration than previously anticipated.
Q2 2024 diluted EPS was $1.07 versus $0.82 in Q2 2023; net income was $86 million versus $70 million
Fee-related and other revenues were $366 million versus $358 million; global RevPAR rose 2% in constant currency
Full-year 2024 adjusted diluted EPS outlook raised to $4.20 to $4.32 from $4.18 to $4.30
Full-year fee-related and other revenues outlook cut to $1.41 to $1.43 billion from $1.43 to $1.46 billion; global RevPAR outlook changed to approximately flat from 2% to 3% growth
Stewart Information Services reported second quarter 2024 total revenues of $602.2 million, up from $549.2 million a year earlier, and GAAP net income attributable to Stewart of $17.3 million, or $0.62 per diluted share, versus $15.8 million, or $0.58, in the prior-year quarter. Adjusted diluted EPS was $0.91 compared with $0.94, and the company said the housing market remains difficult.
Total revenues $602.2 million vs. $549.2 million in Q2 2023
GAAP net income attributable to Stewart $17.3 million vs. $15.8 million; diluted EPS $0.62 vs. $0.58
Adjusted diluted EPS $0.91 vs. $0.94 in Q2 2023
Net cash provided by operations $21.1 million vs. $35.1 million in Q2 2023
Tyler Technologies reported second-quarter 2024 revenue of $541.0 million, up 7.3%, and GAAP diluted earnings of $1.57 per share, up from $1.15 a year earlier. The company revised its full-year 2024 guidance, with total revenue now expected at $2.120 billion to $2.150 billion, and said its outlook for the rest of the year is positive.
Q2 2024 GAAP net income was $67.7 million, or $1.57 per diluted share, versus $1.15 in Q2 2023; non-GAAP EPS was $2.40, up 20.9%.
SaaS revenues grew 23.2% to $156.0 million; SaaS arrangements made up about 97% of new software contract value.
Full-year 2024 guidance: total revenue of $2.120 billion to $2.150 billion; GAAP diluted EPS of $5.76 to $5.96; non-GAAP diluted EPS of $9.25 to $9.45.
Free cash flow was $48.6 million in Q2 2024, compared with negative $33.2 million a year earlier.
Edwards reported second-quarter sales of $1,385.9 million, up 7%, and GAAP diluted EPS of $0.61 versus $0.50 a year earlier. It cut full-year TAVR sales growth guidance to 5 to 7% from 8 to 10%, raised TMTT guidance to the higher end of $320 to $340 million, and agreed to buy JenaValve and exercise its option to buy Endotronix for about $1.2 billion in cash plus up to $445 million in milestone payments.
Q2 net sales of $1,385.9 million, up 7% from $1,295.5 million; TMTT sales rose 75% to $83 million
Full-year 2024 TAVR sales growth guidance lowered to 5 to 7% from 8 to 10%; total Edwards sales growth guidance kept at 8 to 10%
Acquisitions of JenaValve and Endotronix carry about $1.2 billion upfront cash plus up to $445 million on milestones, subject to closing conditions
Critical Care sale for $4.2 billion remains on track to close in late Q3 2024
ASGN Incorporated (NYSE: ASGN) reported second-quarter 2024 revenue of $1.035 billion, down 8.5% from a year earlier, and net income of $47.2 million, or $1.02 per diluted share, versus $60.1 million, or $1.22, in the second quarter of 2023. It also gave third-quarter 2024 estimates of $1.024 billion to $1.044 billion in revenue and $1.01 to $1.09 in diluted EPS. Note that the filing is from ASGN Incorporated, not Everforth Inc (EFOR) as named in the request.
Revenue of $1.035 billion, down 8.5% year over year; Commercial Segment down 10.6% and Federal Government Segment down 3.3%
Net income of $47.2 million ($1.02 per diluted share) vs. $60.1 million ($1.22) in Q2 2023; Adjusted EBITDA of $117.1 million, an 11.3% margin vs. 12.0%
Q3 2024 estimates: revenue of $1.024 billion to $1.044 billion; net income of $45.8 million to $49.4 million; diluted EPS of $1.01 to $1.09
Repurchased 1.1 million shares for $108.0 million in Q2 2024; about $667.0 million remained available under the repurchase plan at quarter end
Plexus reported fiscal third-quarter 2024 revenue of $961 million, down from $1.02 billion a year earlier, while GAAP diluted EPS rose to $0.91 from $0.56. The company guided fiscal fourth-quarter revenue to $990 million to $1.03 billion and GAAP diluted EPS to $1.14 to $1.29, and said it expects free cash flow of more than $150 million for fiscal 2024.
Q3 revenue was $961 million, versus $1.02 billion in the year-earlier quarter and $967 million in the prior quarter.
Q3 GAAP diluted EPS was $0.91, versus $0.56 a year earlier; non-GAAP diluted EPS was $1.45, versus $1.46.
Q4 guidance: revenue of $990 million to $1.03 billion and GAAP diluted EPS of $1.14 to $1.29.
Free cash flow was $114 million in Q3, and the company repurchased $18.6 million of shares with $19.5 million left on its $50.0 million authorization.
Raymond James reported fiscal third-quarter 2024 results for the period ended June 30, 2024, with record net revenues of $3.23 billion, up 11% from a year earlier, and net income available to common shareholders of $491 million, or $2.31 per diluted share, compared with $1.71 a year earlier. The company also repurchased about 2 million shares for $243 million during the quarter, leaving approximately $945 million available under its Board-approved repurchase authorization.
Net revenues of $3.23 billion, up 11% from the prior year's fiscal third quarter and 4% from the preceding quarter
Net income available to common shareholders of $491 million, or $2.31 per diluted share, versus $1.71 a year earlier
Bank segment net interest margin of 2.64%, down 62 basis points from the prior year's fiscal third quarter
Repurchased about 2 million shares for $243 million, with approximately $945 million remaining under the authorization
Annaly Capital Management reported a GAAP net loss of $0.09 per average common share for the quarter ended June 30, 2024, compared with GAAP net income of $0.85 per share in the prior quarter. Earnings available for distribution rose to $0.68 per share from $0.64 in the first quarter, but book value per common share fell to $19.25 from $19.73, and the company declared a $0.65 quarterly dividend.
GAAP net loss of $0.09 per share for Q2 2024, versus $0.85 in Q1 2024 and $0.27 in Q2 2023
Earnings available for distribution of $0.68 per share, up from $0.64 in Q1 2024 but down from $0.72 in Q2 2023
Book value per common share of $19.25 at June 30, 2024, down from $19.73 at March 31, 2024
GAAP leverage rose to 7.1x from 6.7x in the prior quarter; quarterly common dividend of $0.65 per share declared
Moelis & Company reported second-quarter 2024 results, with GAAP revenue up 47% to $264.6 million and GAAP net income attributable to the company of $13.2 million, compared with a loss a year earlier. The firm also declared a $0.60 per share quarterly dividend and reported $191.3 million in cash and liquid investments with no funded debt. The company notes that revenue and net income can fluctuate materially with the number, size and timing of completed transactions.
Second-quarter GAAP revenue was $264.6 million, compared with $179.9 million a year earlier; adjusted revenue rose 45%.
GAAP diluted earnings were $0.17 per share, compared with a loss of $0.17 per share in Q2 2023; adjusted diluted earnings were $0.18 per share.
Quarterly dividend of $0.60 per share, payable September 26, 2024, to holders of record on August 5, 2024.
Cash and short-term investments of $191.3 million as of June 30, 2024, with no debt or goodwill.
Century Communities reported second-quarter 2024 net income of $83.7 million, or $2.61 per diluted share, up 63% from a year earlier, on total revenues of $1.0 billion, up 23%. The company raised its full-year 2024 guidance for home deliveries and home sales revenues, and its board approved a new repurchase authorization of up to an additional 4.5 million shares.
Q2 2024 net income of $83.7 million, or $2.61 per diluted share, versus $51.4 million in Q2 2023
Full-year 2024 guidance raised to 10,700 to 11,300 home deliveries and $4.2 billion to $4.4 billion in home sales revenues
Board authorized up to an additional 4.5 million shares for repurchase; total authorization is 5,078,143 shares as of July 24, 2024
J. Scott Dixon appointed non-interim Chief Financial Officer effective immediately; base salary raised to $650,000
ServiceNow reported second-quarter 2024 total revenues of $2,627 million, up 22% year over year, and raised its 2024 subscription revenue guidance to $10,575 million to $10,585 million. The same day, President and Chief Operating Officer CJ Desai agreed to resign effective immediately after an internal investigation found that he and another individual violated company policy over a 2023 hire tied to a U.S. Army government contract, and the Department of Justice has opened its own investigation.
Total revenues $2,627 million, up 22% year over year; subscription revenues $2,542 million, up 23%.
GAAP net income $262 million, or $1.26 per diluted share, versus $1,044 million in Q2 2023.
Full-year 2024 subscription revenue guidance set at $10,575 million to $10,585 million.
CJ Desai resigned effective July 24, 2024; Chris Bedi named interim Chief Product Officer.
Pegasystems reported second-quarter 2024 revenue of $351.2 million, up 18% from $298.3 million a year earlier, and GAAP net income of $6.6 million ($0.07 per diluted share) compared with a net loss of $46.8 million a year earlier. Annual contract value rose 12% to $1.31 billion, and the company reported $218.4 million of free cash flow for the first half of 2024. The filing gives no revenue or earnings guidance for future periods.
Q2 2024 total revenue was $351.2 million, up 18% from $298.3 million; Pega Cloud revenue rose 38% to $134.1 million.
GAAP net income was $6.6 million, or $0.07 per diluted share, versus a net loss of $46.8 million, or $0.56 per share, in Q2 2023.
Non-GAAP net income was $45.8 million, or $0.52 per diluted share, versus $1.2 million, or $0.01, a year earlier.
For the six months ended June 30, 2024, revenue was $681.3 million, up 9%, and the GAAP net loss was $5.5 million, including a $32.4 million litigation settlement, net of recoveries.
Ameriprise reported second quarter 2024 results on July 24, 2024. Adjusted operating earnings per diluted share rose 15% to $8.53 from $7.44 a year earlier, while GAAP net income per diluted share fell 2% to $8.02, which the company attributed mainly to market impacts on derivatives and market risk benefits. Shareholders also received $693 million in capital returns during the quarter.
Adjusted operating EPS was $8.53 versus $7.44 a year ago; excluding $0.19 of severance expense, it was $8.72.
GAAP net income was $829 million versus $890 million a year ago, and GAAP EPS was $8.02 versus $8.21.
Adjusted operating net revenues rose 9%, and total net revenues were $4.22 billion versus $3.88 billion.
The company returned $693 million to shareholders, including $542 million in share repurchases.
The St. Joe Company reported second-quarter 2024 revenue of $111.6 million, down 13% from $128.1 million a year earlier, and net income attributable to the Company of $24.5 million, or $0.42 per share, down from $34.7 million, or $0.60 per share. The company said hospitality and leasing revenue grew while real estate revenue fell 51%, and its board raised the quarterly dividend 17% to $0.14 per share.
Q2 2024 total revenue $111.6 million, down 13% from $128.1 million in Q2 2023
Q2 2024 net income attributable to the Company $24.5 million ($0.42 per share), down from $34.7 million ($0.60 per share)
Hospitality revenue rose 38% to $62.3 million; real estate revenue fell 51% to $34.5 million
Quarterly dividend raised to $0.14 per share from $0.12, payable September 6, 2024, to holders of record August 9, 2024
Pathward Financial reported results for the three months ended June 30, 2024. Net income was $41.8 million, or $1.66 per share, down from $45.1 million, or $1.68 per share, a year earlier, even though total revenue rose 7% to $176.7 million. For shareholders, higher revenue was offset by slightly lower profit and higher noninterest expense.
Net income $41.8 million, or $1.66 per share, for the quarter ended June 30, 2024, versus $45.1 million, or $1.68 per share, a year earlier
Total revenue $176.7 million, up $11.5 million or 7%, driven by higher net interest income
Net interest margin rose to 6.56% from 6.18%; noninterest expense rose 8% to $123.7 million
Nonperforming loans and leases were $44.6 million, or 0.96% of gross loans, at June 30, 2024, up from $34.4 million at March 31, 2024
Align Technology reported second-quarter 2024 revenue of $1,028.5 million, up 2.6% from a year earlier, while GAAP net income fell 13.6% to $96.6 million, or $1.28 per diluted share. The company also revised its fiscal 2024 revenue outlook to 4% to 6% growth, citing a delayed launch of the iTero Lumina with restorative capabilities to the first quarter of 2025, which affects expectations for shareholders.
Q2 2024 revenue was $1,028.5 million, up 2.6% year-over-year; GAAP diluted EPS was $1.28 versus $1.46 a year earlier.
Non-GAAP diluted EPS was $2.41, compared with $2.22 in Q2 2023.
Q3 2024 worldwide revenue is expected in the range of $980 million to $1,000 million; fiscal 2024 revenue growth is expected to be 4% to 6%.
Align agreed in principle to settle legal matters for $31.1 million, primarily related to the Misty Snow Antitrust Class Action.
Churchill Downs reported second quarter 2024 results for the three months ended June 30, 2024, with net revenue of $890.7 million, up from $768.5 million a year earlier. Net income attributable to the company rose to $209.3 million from $143.0 million, and diluted EPS was $2.79 versus $1.86, which benefits shareholders on both revenue and profit measures. The filing gives no updated full-year guidance.
Net revenue of $890.7 million vs. $768.5 million in Q2 2023
Net income attributable to CDI of $209.3 million vs. $143.0 million; diluted EPS of $2.79 vs. $1.86
Adjusted EBITDA of $444.8 million vs. $363.7 million; the Kentucky Derby Week contributed a $37.6 million revenue increase at Churchill Downs Racetrack
Repurchased 93,874 shares for about $13.0 million in Q2 2024; $179.9 million of authority remained at June 30, 2024
Rollins reported unaudited second-quarter 2024 results, with revenue of $892 million, up 8.7% from a year earlier, and net income of $129 million, up 17.5%. Diluted EPS rose 22.7% to $0.27, and operating margin widened to 20.4% from 18.9%, which points to higher profits per share for shareholders.
Q2 2024 revenue was $892 million, up 8.7%; organic revenue rose 7.7% to $878 million.
Operating income was $182 million, up 17.8%, with operating margin of 20.4%, up 150 basis points.
Net income was $129 million, up 17.5%; EPS was $0.27 versus $0.22 a year earlier.
Operating cash flow was $145 million, down 1.6% from $147 million, and dividends paid totaled $73 million.
MaxLinear reported unaudited second-quarter 2024 results, with net revenue of $92.0 million, down 3% sequentially and down 50% from the year-ago quarter. The GAAP net loss was $39.3 million, or $0.47 per diluted share, narrower than the prior quarter but far below the year-ago loss of $0.05 per share. The company guided third-quarter 2024 net revenue to $70 million to $90 million, which puts the midpoint below the second quarter's level.
Q2 2024 net revenue was $92.0 million, down 3% from Q1 2024 and down 50% from Q2 2023.
GAAP diluted loss per share was $0.47, versus $0.88 in Q1 2024 and $0.05 in Q2 2023.
Non-GAAP diluted loss per share was $0.25, versus $0.21 in Q1 2024.
Third-quarter 2024 net revenue is expected to be approximately $70 million to $90 million.
Goosehead Insurance reported second-quarter 2024 total revenue of $78.1 million, up 13% from a year earlier, and net income of $10.9 million, up from $7.2 million. The company reiterated its full-year 2024 revenue guidance of $290 million to $310 million and repurchased 1.045 million shares during the quarter.
Total revenue was $78.1 million, up 13% from $69.3 million; core revenue grew 20% to $73.4 million.
Net income was $10.9 million versus $7.2 million; diluted EPS was $0.24 versus $0.15.
Full-year 2024 guidance was reiterated: total revenues of $290 million to $310 million.
The company repurchased 1.045 million shares at an average price of $60.46, with $36.8 million remaining under the authorization.
Republic Services reported second-quarter 2024 revenue of $4.048 billion, up 8.6% from a year earlier, and diluted earnings per share of $1.62, up from $1.35. The company raised its full-year 2024 adjusted diluted earnings per share guidance to $6.15 to $6.20 and increased its quarterly dividend by 4.5 cents to $0.580 per share, which shareholders may find meaningful.
Q2 2024 net income attributable to Republic Services was $511.5 million, or $1.62 per diluted share, versus $1.35 in Q2 2023
Q2 2024 adjusted diluted earnings per share was $1.61, versus $1.41 a year earlier
Full-year 2024 adjusted diluted EPS guidance raised to $6.15 to $6.20; adjusted free cash flow guidance $2.150 billion to $2.170 billion
Quarterly dividend increased to $0.58 per share, payable October 15, 2024, to holders of record on October 2, 2024
SEI Investments reported second-quarter 2024 revenue of $519.0 million, up 6% from a year earlier, and net income of $139.1 million, up 17%. Diluted earnings per share rose 18% to $1.05, and income from operations rose 21% to $136.5 million, all of which point to stronger profitability for shareholders.
Diluted EPS was $1.05 for the quarter ended June 30, 2024, compared with $0.89 a year earlier.
Revenue was $519.0 million, compared with $489.1 million in second-quarter 2023.
Net income was $139.1 million, compared with $118.9 million, an increase of 17%.
The company repurchased 1.6 million shares for $111.2 million at an average price of $67.44 per share.
Robert Half reported second-quarter 2024 results, with net income of $68 million, or $0.66 per share, on revenues of $1.473 billion, compared with $106 million, or $1.00 per share, on revenues of $1.639 billion a year earlier. Management said client and candidate caution continues to affect hiring and that second-quarter results were within its guidance range, but the filing does not provide new guidance figures, so shareholders see lower revenue and profit year over year.
Q2 2024 net income was $68 million, or $0.66 per share, versus $106 million, or $1.00 per share, in Q2 2023.
Q2 2024 revenues were $1.473 billion, versus $1.639 billion in Q2 2023.
For the first six months of 2024, net income was $132 million, or $1.27 per share, versus $228 million, or $2.14 per share, a year earlier.
Management said Q2 revenues and earnings were within its guidance range.
Capitol Federal Financial reported third-quarter fiscal 2024 net income of $9.6 million, or $0.07 per share, down from $13.8 million, or $0.11 per share, in the prior quarter. The company said higher income tax expense tied to the Bank's pre-1988 bad debt recapture and a higher provision for credit losses drove the decline, and it said quarterly earnings may not fully cover its $0.085 quarterly dividend.
Net income of $9.6 million, or $0.07 per share, for the quarter ended June 30, 2024, versus $13.8 million, or $0.11 per share, for the quarter ended March 31, 2024
Income tax expense on the pre-1988 bad debt recapture reduced earnings by $0.03 per share in the quarter
Net interest margin was 1.77%, down from 1.82% in the prior quarter
Quarterly cash dividend of $0.085 per share payable August 16, 2024 to holders of record on August 2, 2024; the company held $49.1 million in cash at June 30, 2024
Old Dominion Freight Line reported second-quarter 2024 results, with revenue of $1,498.7 million, up 6.1% from a year earlier, and diluted earnings per share of $1.48, up 11.3%. The operating ratio improved to 71.9% from 72.3%, and management called it the third consecutive quarter of growth in both revenue and earnings per diluted share.
Q2 2024 net income was $322.0 million, up 10.2%, and operating income was $421.7 million, up 7.7%.
First-half diluted EPS was $2.82, up 8.0%, and the company used $637.1 million for share repurchases in the first six months, including a $200.0 million accelerated share repurchase agreement that expires no later than November 2024.
The company expects 2024 capital expenditures of approximately $750 million and had $74.3 million in cash and cash equivalents at June 30, 2024.
PROG Holdings reported second quarter 2024 revenue of $592.2 million, flat with the prior year, and diluted EPS of $0.77 versus $0.79 a year earlier. The company raised its full-year 2024 revenue and diluted EPS outlook, citing 7.9% year-over-year growth in Progressive Leasing GMV, though net earnings declined.
Q2 net earnings were $33.8 million versus $37.2 million; diluted EPS was $0.77 versus $0.79.
Progressive Leasing GMV rose 7.9% to $454.5 million year over year.
2024 revenue outlook raised to $2.40 billion-$2.45 billion from $2.285 billion-$2.36 billion; diluted EPS outlook raised to $2.52-$2.68 from $2.18-$2.43.
Third quarter 2024 diluted EPS outlook is $0.61-$0.71.
General Dynamics reported second-quarter 2024 revenue of $12 billion, up 18% from a year earlier, with operating earnings of $1.2 billion and diluted EPS of $3.26, up 20.7%. Growth was led by the Aerospace segment, where revenue rose 50.5% on higher Gulfstream deliveries, and the company's backlog stood at $91.3 billion.
Revenue $12 billion (11,976 million), up 18.0%; operating earnings $1.16 billion, up 20.2%
Diluted EPS $3.26 vs. $2.70 a year earlier; operating margin 9.7%, up 20 basis points
Gulfstream delivered 37 aircraft in the quarter (31 large-cabin) vs. 24 a year earlier
Silicon Labs reported second-quarter 2024 results for the quarter ended June 29, 2024, with revenue of $145 million, down from $245 million a year earlier. The company posted a GAAP operating loss of $48 million and a GAAP diluted loss of $(2.56) per share, compared with diluted earnings of $0.33 per share a year earlier. It expects third-quarter revenue of $160 million to $170 million, which would be above the second-quarter level.
Q2 2024 revenue was $145 million versus $245 million in Q2 2023; Industrial & Commercial revenue was $88 million and Home & Life revenue was $57 million.
GAAP operating loss was $48 million and GAAP diluted loss per share was $(2.56), versus diluted earnings of $0.33 per share in Q2 2023.
Non-GAAP diluted loss per share was $(0.56) for the quarter.
Third-quarter 2024 outlook: revenue of $160 million to $170 million; GAAP diluted loss per share of $(0.95) to $(1.25); non-GAAP diluted loss per share of $(0.10) to $(0.30).
Wabtec reported second quarter 2024 sales of $2.64 billion, up 9.8% from a year earlier, and GAAP diluted earnings per share of $1.64, up 54.7%. The company raised and tightened its 2024 adjusted diluted EPS guidance to $7.20 to $7.50, while leaving its revenue guidance unchanged at $10.25 billion to $10.55 billion, which indicates higher expected profit for shareholders.
Q2 2024 sales of $2.64 billion, up 9.8%; Freight segment sales up 13.1%
GAAP diluted EPS of $1.64, up 54.7%; adjusted diluted EPS of $1.96, up 39.0%
2024 adjusted diluted EPS guidance raised and tightened to $7.20 to $7.50; revenue guidance unchanged at $10.25 billion to $10.55 billion
Returned $235 million to shareholders through share repurchases and dividends in the quarter
Healthcare Services Group reported a second-quarter net loss of $1.8 million, or $0.02 per diluted share, compared with net income of $8.3 million a year earlier, even though revenue rose to $426.3 million. The company said the loss reflects client restructuring charges, including those tied to the LaVie Care Centers Chapter 11 filing. The company raised its third- and fourth-quarter revenue estimates and reaffirmed its 2024 adjusted cash flow forecast of $40.0 million to $55.0 million.
Q2 2024 revenue was $426.3 million, up from $418.9 million in Q2 2023 and in line with the company's expectation of $420.0 million to $430.0 million.
Net loss of $1.8 million, or $0.02 per diluted share, versus net income of $8.3 million, or $0.11 per diluted share, in Q2 2023; results include a $0.22 per share impact from client restructuring bad debt expense.
Q3 2024 revenue estimate raised to $425.0 million to $435.0 million; Q4 2024 estimate raised to $430.0 million to $440.0 million.
2024 adjusted cash flow from operations forecast of $40.0 million to $55.0 million reaffirmed; Q2 adjusted cash flow used in operations was $2.4 million.
Stifel Financial reported second quarter 2024 net revenues of $1.2 billion, up 15.9% from $1.05 billion a year earlier, and net income available to common shareholders of $156.0 million, or $1.41 per diluted share, versus $1.10 in the second quarter of 2023. Non-GAAP diluted EPS was $1.60, compared with $1.20, after excluding merger-related and restructuring and severance costs, so shareholders saw higher revenue and earnings year over year.
Net revenues of $1.2 billion ($1,217.9 million), up 15.9% from $1.05 billion in Q2 2023.
GAAP diluted EPS of $1.41 vs. $1.10 a year earlier; non-GAAP diluted EPS of $1.60 vs. $1.20.
Institutional Group pre-tax net income of $48.8 million, compared with a pre-tax loss of $11.6 million in Q2 2023.
The company's 4.25% Senior Notes matured on July 18, 2024, retiring the $500.0 million outstanding balance; Q2 stock repurchases totaled $17.6 million.
Roper Technologies reported second-quarter 2024 revenue up 12% to $1.72 billion and adjusted DEPS up 9% to $4.48, while GAAP DEPS fell 7% to $3.12. The company raised the low end of its full-year 2024 adjusted DEPS guidance to $18.10-$18.25, from $18.05-$18.25, and continues to expect about 12% total revenue growth.
Q2 2024 revenue $1.72 billion, up 12%; organic revenue up 4%
GAAP DEPS $3.12, down 7% from $3.36; adjusted DEPS $4.48, up 9%
FY 2024 adjusted DEPS guidance $18.10-$18.25 vs. prior $18.05-$18.25
Blackstone Mortgage Trust reported a second quarter 2024 net loss attributable to the company of $61 million, or ($0.35) per share, compared with net income of $101.7 million in the same quarter of 2023. The company also declared a third quarter dividend of $0.47 per share, down from the $0.62 per share paid for the second quarter, and authorized a share repurchase program of up to $150.0 million.
Q2 2024 net loss attributable to the company of $61 million, or ($0.35) per share, versus net income of $101.7 million in Q2 2023
Distributable EPS of $0.49 for Q2 2024, up from $0.33 in Q1 2024; Distributable EPS prior to charge-offs was $0.56
Q3 2024 dividend of $0.47 per share, payable October 15, 2024, to stockholders of record as of September 30, 2024
Board authorized a share repurchase program of up to $150.0 million of class A common stock
Evercore reported second-quarter 2024 U.S. GAAP net revenues of $689.2 million, up 38% from a year earlier, and diluted earnings per share of $1.81, compared with $0.95. Advisory fees rose 52%, while underwriting fees fell 19%. The board also declared a quarterly dividend of $0.80 per share, and the filing includes no forward guidance.
GAAP net revenues were $689.2 million, up from $499.4 million in Q2 2023; the company called it a record second quarter by both GAAP and adjusted measures.
GAAP operating income was $108.2 million, up 88% from $57.7 million, with an operating margin of 15.7% versus 11.6%.
Diluted EPS was $1.81 versus $0.95; GAAP net income attributable to Evercore was $73.8 million versus $37.2 million.
The board declared a quarterly dividend of $0.80 per share, payable September 13, 2024, to holders of record on August 30, 2024.
Prosperity Bancshares reported second quarter 2024 net income of $111.6 million, or $1.17 per diluted share, up from $86.9 million, or $0.94, a year earlier, and essentially flat with $110.4 million, or $1.18, in the first quarter. The company said the quarter included a $10.7 million net gain from a Visa Class B-1 stock exchange and sale of securities, offset by merger related and FDIC special assessment charges, and that excluding these items EPS was $1.22. The results followed the April 1, 2024 completion of the Lone Star State Bancshares merger.
Net income of $111.6 million, or $1.17 per diluted share, for Q2 2024, compared with $86.9 million, or $0.94, in Q2 2023
Excluding merger related provision and expenses, Visa and securities gains, and FDIC special assessment, net of tax, EPS was $1.22 (non-GAAP)
Net interest margin rose to 2.94% from 2.79% in Q1 2024; loans rose $1.06 billion or 5.0% in the quarter, largely from the merger
Repurchased 671 thousand shares in Q2 2024; declared a third quarter dividend of $0.56 per share, payable October 1, 2024
Otis reported second quarter 2024 net sales of $3.6 billion, down 3.2% from a year earlier, while GAAP EPS rose 13.3% to $1.02 and adjusted EPS rose 15.2% to $1.06. The company raised its full-year adjusted EPS outlook to $3.85 to $3.90, up 9% to 10%, though organic sales for the full year are now expected to rise only 1% to 3%.
Q2 2024 net sales were $3.6 billion, down 3.2%; organic sales fell 1.2%, with New Equipment sales down 11.4% and Service sales up 3.0%.
GAAP EPS was $1.02 (up 13.3%) and adjusted EPS was $1.06 (up 15.2%); GAAP operating profit was $570 million.
Full-year 2024 outlook: net sales of $14.3 billion to $14.5 billion and adjusted EPS of $3.85 to $3.90.
Otis repurchased $300 million of shares in the second quarter and $600 million in the first half of 2024.
Allegion reported second-quarter 2024 revenue of $965.6 million, up 5.8%, and net earnings of $1.77 per diluted share, up 9.9% from $1.61. The company raised its full-year 2024 reported revenue growth and adjusted EPS outlook, which benefits shareholders by signaling stronger expected earnings for the year.
Q2 adjusted EPS of $1.96, up 11.4% from $1.76; adjusted operating margin of 23.7%, up 150 basis points
Full-year 2024 adjusted EPS outlook raised to $7.15 to $7.30; reported revenue growth raised to 2.5% to 3.5%
Available cash flow outlook affirmed at approximately $540 million to $570 million
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