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).
Pilgrim's Pride reported second quarter 2024 results with net sales of $4.6 billion, up 5.8% from a year earlier, and operating income of $440.8 million, up from $100.3 million. Diluted GAAP earnings per share were $1.37, compared with $0.25 in the prior-year quarter, and the company said Europe and Mexico both improved. The results show a sharp rise in profit for shareholders, though the filing gives no outlook for future periods.
Net sales were $4,559.3 million for the quarter ended June 30, 2024, up 5.8% from $4,308.1 million.
Operating income was $440.8 million, compared with $100.3 million a year earlier.
GAAP net income was $326.5 million, or $1.37 per diluted share, versus $0.25 per diluted share in the prior-year quarter; the company also reported adjusted EPS of $1.67.
Aflac reported second-quarter 2024 net earnings of $1.8 billion, or $3.10 per diluted share, up from $2.71 a year earlier, while total revenues fell 0.7% to $5.1 billion. Adjusted earnings per diluted share rose 15.8% to $1.83, and the board declared a $0.50 third-quarter dividend. Shareholders benefit from higher profit per share and $800 million in share repurchases, though the company's net earnings included $696 million in net investment gains.
Net earnings $1.8 billion, or $3.10 per diluted share, vs. $2.71 a year ago
Total revenues $5.1 billion, vs. $5.2 billion in Q2 2023
Adjusted earnings per diluted share $1.83, up 15.8%; net investment gains of $696 million included in net earnings
$800 million used to repurchase 9.3 million shares; third-quarter dividend of $0.50 per share payable September 2, 2024
The Hanover Insurance Group reported second-quarter 2024 net income of $40.5 million, or $1.12 per diluted share, compared with a net loss of $69.2 million a year earlier. Operating income was $68.1 million, or $1.88 per diluted share, versus an operating loss of $68.3 million in the prior-year quarter, and the combined ratio improved to 99.2% from 111.3%. Shareholders should note that net realized investment losses of $30.4 million, from selling lower-coupon fixed income securities, reduced net income relative to operating income.
Net income of $40.5 million, or $1.12 per diluted share, vs. a net loss of $69.2 million, or $1.94 per basic share, in Q2 2023
Operating income of $68.1 million, or $1.88 per diluted share, vs. an operating loss of $68.3 million in Q2 2023
Combined ratio of 99.2% vs. 111.3%; catastrophe losses of $157.1 million, or 10.7 points
Net premiums written rose 5.1% to $1,521.1 million; book value per share was $70.96 at June 30, 2024
United States Lime & Minerals reported second quarter 2024 revenue of $76.5 million, up 3.5% from $74.0 million a year earlier, and net income of $26.1 million, or $0.91 per diluted share, versus $19.7 million, or $0.69, in the prior-year quarter. Higher average selling prices offset lower sales volumes, which the company attributed to weaker construction demand from weather-related project delays. The board also declared a regular quarterly cash dividend of $0.05 per share.
Q2 2024 revenue of $76.5 million, up $2.6 million or 3.5% from $74.0 million in Q2 2023
Q2 2024 net income of $26.1 million ($0.91 per diluted share) vs. $19.7 million ($0.69) a year earlier
Sales volumes fell on lower construction demand; higher average selling prices partly offset the decline
Quarterly cash dividend of $0.05 per share, payable September 13, 2024, to holders of record August 23, 2024
Antero Midstream reported second quarter 2024 results for the period ended June 30, 2024. Revenue rose to $270 million from $258 million a year earlier, and adjusted net income per diluted share rose 5% to $0.23, while GAAP net income of $86 million ($0.18 per diluted share) was in line with the prior year quarter.
Revenue was $270 million for the quarter, up from $258 million in the prior year quarter.
Net income was $86 million, or $0.18 per diluted share, in line with the prior year quarter.
Adjusted net income was $110 million, or $0.23 per diluted share, a 5% per share increase (non-GAAP).
Free cash flow after dividends was $43 million, a 41% increase; leverage was 3.1x as of June 30, 2024.
Service Corporation International reported second quarter 2024 revenue of $1,034.0 million, up $20.6 million from a year earlier, but diluted earnings per share fell to $0.81 from $0.86. The company said full-year 2024 adjusted earnings per share will likely be at the lower end of its $3.50 to $3.80 guidance range because funeral services performed fell below expectations, while it kept its operating cash flow guidance midpoint.
Q2 2024 revenue $1,034.0 million vs. $1,013.4 million in Q2 2023
Diluted EPS $0.81 vs. $0.86; adjusted EPS $0.79 vs. $0.83
2024 adjusted EPS now expected at lower end of $3.50 to $3.80 range; prior guidance unchanged
Net cash from operating activities $196.9 million vs. $144.1 million a year earlier
Q2 Holdings reported second-quarter 2024 revenue of $172.9 million, up 12% year-over-year, and a GAAP net loss of $13.1 million, narrower than the $23.6 million loss a year earlier. The company raised its full-year 2024 outlook for revenue and adjusted EBITDA, with non-GAAP revenue now guided to $688.5 million to $692.5 million. For shareholders, the filing shows higher sales and profitability on a non-GAAP basis, though the company still reported a GAAP net loss for the quarter.
Q2 2024 revenue was $172.9 million, up 12% year-over-year and up 4% from the first quarter of 2024.
GAAP net loss for Q2 2024 was $13.1 million, compared with $23.6 million in the prior-year quarter.
Adjusted EBITDA for Q2 2024 was $29.9 million, up from $17.6 million a year earlier, a 17.3% margin.
Full-year 2024 non-GAAP revenue guidance is $688.5 million to $692.5 million, and adjusted EBITDA guidance is $116.5 million to $119.5 million.
MetLife reported second quarter 2024 net income of $912 million, or $1.28 per share, up from $370 million, or $0.48 per share, a year earlier. Adjusted earnings rose 9 percent to $1.6 billion, or $2.28 per share, while premiums, fees and other revenues were essentially flat at $13.5 billion. For shareholders, the higher earnings are offset in part by book value per share, which fell 5 percent to $33.30.
Net income of $912 million, or $1.28 per share, versus $370 million, or $0.48 per share, in Q2 2023
Adjusted earnings of $1.6 billion, or $2.28 per share, up 18 percent per share from $1.94
Book value per share of $33.30, down 5 percent from $34.92 at June 30, 2023
Group Benefits adjusted earnings rose 43 percent to $533 million
The Cheesecake Factory reported second-quarter fiscal 2024 results, with revenue of $904.0 million and net income of $52.4 million, both up from the year-earlier quarter. Diluted earnings per share were $1.08, compared with $0.87 a year earlier. The Board also declared a quarterly dividend of $0.27 per share, payable August 27, 2024.
Total revenues were $904.0 million, up from $866.2 million in the second quarter of fiscal 2023.
Net income was $52.4 million, or $1.08 per diluted share, versus $42.7 million, or $0.87 per diluted share, a year earlier.
Comparable restaurant sales at The Cheesecake Factory restaurants rose 1.4% year over year.
The quarterly dividend is $0.27 per share, with a record date of August 14, 2024 and payment on August 27, 2024.
New York Mortgage Trust (Nasdaq: NYMT) reported a second-quarter 2024 net loss attributable to common stockholders of $26.0 million, or $0.29 per share, narrower than the $37.2 million loss a year earlier and the $68.3 million loss in the first quarter. Net interest income rose to $19.0 million from $15.1 million, but book value per common share fell to $9.69 from $12.44 a year earlier, and the common dividend was $0.20 per share versus $0.30. The filing names New York Mortgage Trust as the registrant, not Adamas Trust as stated in the request.
Net loss to common stockholders of $26.0 million ($0.29 per share) for the three months ended June 30, 2024, vs. $37.2 million ($0.41 per share) a year earlier
Net loss to common stockholders of $68.3 million in the first quarter of 2024 ($0.75 per share)
Net interest income of $19.0 million vs. $15.1 million in the second quarter of 2023
Book value per common share of $9.69 at June 30, 2024, down from $10.21 at March 31, 2024 and $12.44 at June 30, 2023; conference call set for August 1, 2024 at 9:00 a.m. Eastern
Rush Street Interactive reported second-quarter 2024 revenue of $220.4 million, up 34% from a year earlier, and its net loss narrowed to $0.3 million from $16.7 million. The company raised its full-year 2024 Adjusted EBITDA guidance to $64 million to $72 million and its revenue guidance to $860 million to $900 million, which points to stronger expected profitability for shareholders.
Q2 2024 revenue was $220.4 million, up 34% from $165.1 million in Q2 2023.
Net loss was $0.3 million versus $16.7 million a year earlier; Adjusted EBITDA was $21.4 million versus $1.2 million.
2024 revenue guidance is $860 million to $900 million, with the midpoint raised by $45 million; Adjusted EBITDA guidance is $64 million to $72 million, with the midpoint raised by $13 million.
Unrestricted cash and cash equivalents were $194 million as of June 30, 2024.
Eversource Energy reported second-quarter 2024 GAAP earnings of $335.3 million, or $0.95 per share, up from $15.4 million, or $0.04 per share, a year earlier. The prior-year period included a $331.0 million impairment of its offshore wind investment, and operating revenues fell to $2.53 billion from $2.63 billion. The company reaffirmed its 2024 non-GAAP earnings projection of $4.50 to $4.67 per share, and said it closed the Sunrise Wind sale and expects to close the Revolution and South Fork Wind sales later this quarter.
Q2 2024 GAAP EPS was $0.95 ($335.3 million) versus $0.04 ($15.4 million) in Q2 2023, which included a $331.0 million offshore wind impairment.
Excluding charges, Q2 EPS was $0.95 in 2024 versus $1.00 in 2023, according to the earnings slides.
Operating revenues were $2.53 billion for the quarter, compared with $2.63 billion a year earlier.
The 2024 non-GAAP EPS projection of $4.50 to $4.67 was reaffirmed; a webcast with management is set for August 1, 2024.
C.H. Robinson reported second-quarter 2024 results for the quarter ended June 30, 2024. Diluted EPS rose 29.6% to $1.05, income from operations rose 34.3% to $178.1 million, and total revenues rose 1.4% to $4.5 billion, while cash generated from operations fell $58.4 million to $166.4 million.
Diluted EPS of $1.05, up 29.6%; adjusted EPS of $1.15, up 25.0%
Income from operations of $178.1 million, up 34.3%; total revenues of $4.5 billion, up 1.4%
Cash generated from operations of $166.4 million, down $58.4 million year over year
Restructuring-related adjustments of $15.2 million in the quarter, including $9.4 million for workforce reductions
Enact Holdings reported second quarter 2024 net income of $184 million, or $1.16 per diluted share, up from $161 million in the first quarter and $168 million a year earlier. Primary insurance in force reached a record $266 billion, and the company now expects total 2024 capital returns of $300 million to $350 million. The quarter benefited from a $77 million reserve release, and results also included about $3 million of one-time restructuring costs.
Net income of $184 million, or $1.16 per diluted share, versus $161 million, or $1.01, in Q1 2024 and $168 million, or $1.04, in Q2 2023
Adjusted operating income of $201 million, or $1.27 per diluted share
2024 capital return now expected between $300 million and $350 million; quarterly dividend of $0.185 per share payable September 9, 2024
A $77 million reserve release drove losses incurred to $(17) million and a loss ratio of (7)%
Park Hotels & Resorts reported second-quarter 2024 net income of $67 million, compared with a net loss of $146 million a year earlier, when results included a $203 million impairment and casualty loss. Total revenues fell 4.0% to $686 million, and the company lowered the midpoint of its full-year 2024 Comparable RevPAR growth outlook, while its diluted EPS outlook midpoint rose slightly.
Q2 2024 diluted EPS was $0.30, versus a loss of $0.70 in Q2 2023; Q2 total revenues fell 4.0% to $686 million.
Comparable RevPAR rose 2.0% to $194.90 in Q2 2024.
Full-year 2024 Comparable RevPAR change outlook is now 3.5% to 4.5%, down from 4.0% to 5.5%; diluted EPS outlook is $0.69 to $0.83, versus $0.66 to $0.85 previously.
Board declared a $0.25 per share Q3 2024 dividend payable October 15, 2024; the company repurchased about 1.7 million shares for $25 million in June 2024.
Kyndryl reported first-quarter fiscal 2025 revenue of $3.74 billion, down 11% year over year, as it reduced low-margin third-party content in customer contracts. Net income was $11 million, or $0.05 per diluted share, compared with a net loss of $141 million a year earlier, and the company raised its fiscal 2025 adjusted pretax income and adjusted EBITDA margin outlook while reaffirming its constant-currency revenue decline outlook of (2%) to (4%).
Revenue of $3.74 billion, down 11% year over year and 8% in constant currency
Net income of $11 million, or $0.05 per diluted share, versus a net loss of $141 million a year earlier; adjusted pretax income of $92 million, up 96%
Adjusted pretax income outlook for fiscal 2025 raised to at least $460 million from at least $435 million
Constant-currency revenue outlook of (2%) to (4%) reaffirmed; company expects year-over-year revenue growth in the fourth quarter
Cognex reported second-quarter 2024 revenue of $239 million, down 1% from a year earlier, with GAAP diluted earnings per share of $0.21 versus $0.33 in Q2 2023. Its Q3 2024 revenue outlook of $225 million to $240 million implies a slight sequential decline, and the board declared a $0.075 quarterly dividend.
Q2 2024 revenue was $239 million, down from $243 million in Q2 2023; operating income fell 41% to $38 million
GAAP diluted EPS was $0.21 versus $0.33 a year earlier; adjusted diluted EPS was $0.23
Q3 2024 revenue is expected between $225 million and $240 million
Quarterly dividend of $0.075 per share is payable August 29, 2024, to holders of record on August 15, 2024
Genworth Financial reported second-quarter 2024 results on July 31, 2024. Net income available to common stockholders was $76 million, or $0.17 per diluted share, down from $139 million in the prior quarter, while adjusted operating income rose to $125 million, or $0.28 per diluted share, from $85 million. The mixed picture matters to shareholders because GAAP profit fell while the company's non-GAAP measure improved, and the results were driven by Enact and offset by losses in long-term care insurance and net investment losses.
Net income available to common stockholders was $76 million ($0.17 per diluted share) in Q2 2024, versus $139 million in Q1 2024.
Adjusted operating income was $125 million ($0.28 per diluted share), versus $85 million in Q1 2024 and $85 million in Q2 2023.
Net investment losses, net of taxes, reduced net income by $48 million in the quarter.
Company repurchased $36 million of common stock in the quarter; $111 million executed year-to-date through July 31, 2024.
FICO reported third-quarter fiscal 2024 revenue of $447.8 million, up from $398.7 million a year earlier, and raised its full-year 2024 revenue and EPS guidance. GAAP diluted EPS was $5.05, down slightly from $5.08, and the company said the prior-year quarter included a large one-time favorable expense adjustment.
Q3 fiscal 2024 revenue was $447.8 million versus $398.7 million in the prior year period.
GAAP diluted EPS was $5.05 versus $5.08; non-GAAP diluted EPS was $6.25 versus $5.66.
Full-year 2024 revenue guidance was raised to $1.700 billion from $1.690 billion; GAAP EPS guidance to $19.90 from $19.70.
Net cash from operating activities was $213.3 million versus $122.6 million in the prior year quarter.
Innoviva reported second quarter 2024 results on July 31, 2024. Total revenue rose to $99.9 million from $81.0 million a year earlier, but the company posted a net loss of $34.7 million, or $(0.55) per share, compared with net income of $1.3 million, or $0.02 per share, in the second quarter of 2023. The company attributed the loss mainly to unfavorable changes in the fair value of its equity and long-term investments, primarily from a lower share price of Armata Pharmaceuticals.
Total revenue was $99.9 million versus $81.0 million in Q2 2023; net product sales were $21.7 million, up from $15.7 million.
Net loss was $34.7 million, or $(0.55) per share, versus net income of $1.3 million, or $0.02 per share, a year earlier.
Unfavorable fair value change in equity and long-term investments was $90.7 million, mainly from lower Armata Pharmaceuticals share price.
Gross royalty revenue from GSK was $67.2 million, and the company completed its $100 million share repurchase program during the quarter.
EZCORP reported results for the quarter ended June 30, 2024, with total revenues up 10% to $281.4 million and diluted earnings per share of $0.25, up from $0.24. Net income was $18.0 million, compared with $18.2 million a year earlier. The company also reported that pawn loans outstanding rose 14% to $261.7 million.
Total revenues rose 10% to $281.4 million; gross profit rose 12% to $166.7 million.
Diluted EPS was $0.25 versus $0.24; net income was $18.0 million versus $18.2 million.
On an adjusted basis, diluted EPS was $0.23 versus $0.20, and adjusted net income rose $2.2 million or 14%.
Company repurchased $3.0 million of shares in the quarter and settled convertible notes after quarter end for $34.4 million in cash and 77,328 shares.
Employers Holdings reported second quarter 2024 results, with net income per diluted share of $1.25 versus $1.30 a year earlier and adjusted net income per diluted share of $1.10 versus $1.17. Net premiums earned rose 6% to $187.8 million, but the GAAP combined ratio worsened to 94.2% from 90.4%, so headline profit fell while revenue grew. The board also declared a regular quarterly dividend of $0.30 per share.
Net income per diluted share $1.25 vs $1.30; adjusted net income per diluted share $1.10 vs $1.17
Net premiums earned $187.8 million, up 6%; GAAP combined ratio 94.2% vs 90.4%
Quarterly dividend of $0.30 per share, payable August 28, 2024, to holders of record as of August 14, 2024
Repurchased 461,789 shares in Q2 2024 at an average $41.53; $44.4 million remaining authorization
MYR Group reported second-quarter 2024 revenue of $828.9 million, down 6.7 percent from a year earlier, and a net loss of $15.3 million, or $0.91 per diluted share, versus net income of $22.3 million a year earlier. The company attributed the decline mainly to unfavorable clean energy projects in its T&D segment and one C&I project, and said it expects those projects to reach mechanical completion this year.
Q2 2024 revenue $828.9 million, down $59.7 million (6.7 percent) from Q2 2023
Q2 2024 net loss $15.3 million, or $0.91 per diluted share, versus net income of $22.3 million, or $1.33 per diluted share, in Q2 2023
Gross margin fell to 4.9 percent from 10.1 percent; backlog was $2.54 billion as of June 30, 2024
First-half 2024 net income $3.7 million, or $0.22 per diluted share, versus $45.4 million, or $2.70, a year earlier
Allstate reported second quarter 2024 results on July 31, 2024, with revenues up 12.4% to $15.7 billion and net income applicable to common shareholders of $301 million, compared with a loss of $1.4 billion a year earlier. The improvement came mainly from higher Property-Liability earned premiums, better underlying loss experience and lower catastrophe losses, which matter to shareholders because they show the insurer's profit recovery continuing. The filing contains no new guidance.
Total revenues were $15.7 billion, up $1.7 billion from the prior year quarter.
Net income applicable to common shareholders was $301 million, or $1.13 per diluted share, versus a loss of $1.4 billion, or $5.29 per share, a year earlier.
Adjusted net income was $429 million, or $1.61 per diluted share, versus an adjusted net loss of $1.2 billion.
Property-Liability underwriting loss narrowed to $145 million from $2.1 billion, and catastrophe losses fell 21.4% to $2.1 billion.
Hawkins reported record first-quarter fiscal 2025 results for the three months ended June 30, 2024, with net income of $28.9 million, or $1.38 per diluted share, up from $1.12 a year earlier. Sales rose 2% to $255.9 million, driven by Water Treatment growth from acquisitions, while Industrial and Health and Nutrition sales declined. For shareholders, profit growth was strong, though the company's total debt rose to $134.0 million after acquisitions and net borrowings.
Net income was $28.9 million, or $1.38 per diluted share, versus $23.4 million, or $1.12 per diluted share, a year earlier.
Sales were $255.9 million, up 2%; Water Treatment sales rose 25% to $117.2 million, while Industrial sales fell 15% to $103.2 million.
Gross profit rose 24% to $64.7 million, and adjusted EBITDA rose 25% to $50.9 million.
Total debt was $134.0 million at quarter end, and the leverage ratio was 0.84x; the company closed two acquisitions in the quarter.
Valaris reported second quarter 2024 results that improved sharply from the first quarter, with net income of $151 million, revenue of $610 million and Adjusted EBITDA of $139 million. The company said the results were better than its prior guidance, and contract backlog reached more than $4.3 billion as of July 29, 2024.
Net income of $151 million in Q2 2024, up from $26 million in Q1 2024; diluted EPS of $2.03 versus $0.35 in Q1
Revenues of $610 million, up from $525 million in Q1 2024; Adjusted EBITDA of $139 million, up from $54 million
Contract backlog above $4.3 billion as of July 29, 2024, a 42% increase from twelve months earlier, including a multi-year Equinor contract for VALARIS DS-17 adding nearly $500 million
Perdoceo Education reported second-quarter 2024 revenue of $166.7 million, down 10.6% from a year earlier, and GAAP diluted earnings per share of $0.57 versus $0.80. Its outlook calls for lower third-quarter and full-year GAAP earnings per share than in the prior year, although the board also raised the quarterly dividend 18.2% to $0.13 per share.
Q2 2024 revenue was $166.7 million, down 10.6%; total student enrollments rose 4.2% to 39,600.
Q2 GAAP diluted EPS was $0.57 versus $0.80; adjusted EPS was $0.60 versus $0.61.
Outlook: Q3 2024 GAAP diluted EPS of $0.51 to $0.53 versus $0.62 in Q3 2023; full-year 2024 of $2.04 to $2.16 versus $2.18 in 2023.
Quarterly dividend raised 18.2% to $0.13 per share, payable September 13, 2024.
Coca-Cola Consolidated reported second-quarter 2024 net sales of $1.8 billion, up 3.3%, and income from operations of $259.1 million, up 10.9%. Net income rose to $172.8 million from $122.3 million a year earlier, and diluted net income per Common Stock share was $18.54 compared with $13.02. Standard physical case volume fell 1.2%, and the company reported a share repurchase obligation to The Coca-Cola Company of $553.7 million on its June 28, 2024 balance sheet.
Net sales rose 3.3% to $1.8 billion in Q2 2024, driven by pricing actions taken in Q1 2024; standard physical case volume fell 1.2%.
Income from operations was $259.1 million, up $25 million or 10.9%; operating margin was 14.4% versus 13.4%.
Net income was $172.8 million versus $122.3 million; diluted net income per Common Stock share was $18.54 versus $13.02.
Share repurchase obligation to The Coca-Cola Company was $553.7 million as of June 28, 2024; the full-year 2024 capital expenditure outlook is $300 million to $350 million.
Carvana reported second-quarter 2024 results with revenue of $3.410 billion, up 15%, and net income of $48 million, compared with a loss in the year-earlier quarter. The company also expects full-year 2024 Adjusted EBITDA of $1.0 to $1.2 billion, up from $339 million last year, which gives shareholders a specific profit target while the company's results were filed with the SEC.
Retail units sold totaled 101,440 in Q2 2024, up 33% year over year
Net income was $48 million, a 1.4% margin, versus a net loss margin of (3.5)% in Q2 2023
Adjusted EBITDA was $355 million, a 10.4% margin, compared with a 5.2% margin a year earlier
Outlook: full-year 2024 Adjusted EBITDA of $1.0 to $1.2 billion, versus $339 million in 2023
Axcelis reported second quarter 2024 revenue of $256.5 million, up from $252.4 million in the first quarter, and net income of $50.9 million, or $1.55 per diluted share, down from $1.57 in the first quarter. For the third quarter, the company expects revenue of approximately $255 million and diluted EPS of approximately $1.43, both below second quarter results. Second quarter revenue was also below the $274.0 million reported a year earlier, and diluted EPS was down from $1.86.
Q2 2024 revenue of $256.5 million, compared with $252.4 million in Q1 2024 and $274.0 million in Q2 2023
Operating profit of $52.8 million, compared with $56.5 million in Q1 2024 and $63.7 million in Q2 2023
Q3 2024 outlook: revenue of approximately $255 million and diluted EPS of approximately $1.43
Company says Q2 revenue, operating margin and EPS exceeded its guidance for the period
Glaukos reported second-quarter 2024 net sales of $95.7 million, up 19% from a year earlier, and raised its full-year 2024 net sales guidance to $370 million to $376 million from $357 million to $365 million. GAAP net loss widened to $53.9 million, or $1.06 per diluted share, from $32.8 million, or $0.68 per share, a year earlier, including an $18.0 million charge tied to convertible senior note exchanges.
Q2 2024 net sales of $95.7 million, up from $80.4 million in Q2 2023
GAAP net loss of $53.9 million, or $1.06 per diluted share, versus $32.8 million, or $0.68, in Q2 2023
2024 net sales guidance raised to $370 million to $376 million from $357 million to $365 million
$18.0 million charges associated with convertible senior notes; cash and investments of $266.4 million as of June 30, 2024
EVERTEC reported second quarter 2024 results on July 31, 2024, with revenue up 27% to $212.0 million, mainly from the Sinqia acquisition and organic growth, and GAAP net income attributable to common shareholders up 13% to $31.9 million. Adjusted EBITDA margin fell about 400 basis points to 40.6%, which the company linked to Sinqia's lower margin, and the company completed its accelerated share repurchase on July 9, 2024.
Revenue rose 27% to $212.0 million from $167.1 million a year earlier, reflecting the Sinqia acquisition and organic growth
GAAP net income attributable to common shareholders rose 13% to $31.9 million, or $0.49 per diluted share
Adjusted EBITDA rose 16% to $86.1 million, but the margin fell to 40.6%, down about 400 basis points
2024 outlook: total revenue of $846 million to $854 million and adjusted earnings per share of $2.98 to $3.07
eBay reported second-quarter 2024 revenue of $2.6 billion, up 1% as reported and 2% on an FX-neutral basis, with GAAP earnings of $0.45 per diluted share versus $0.32 a year earlier. The company also gave third-quarter revenue guidance of $2.50 to $2.56 billion and non-GAAP EPS guidance of $1.15 to $1.20, and declared a $0.27 quarterly dividend.
Q2 revenue was $2,572 million, up 1% as reported and 2% FX-neutral; GMV was $18.4 billion, up 1%
GAAP EPS was $0.45 vs. $0.32 a year earlier; non-GAAP EPS was $1.18 vs. $1.03
Q3 2024 guidance: revenue $2.50 to $2.56 billion; diluted non-GAAP EPS $1.15 to $1.20
Returned $1.1 billion to stockholders in Q2, including $1.0 billion of buybacks; $0.27 dividend payable September 13, 2024
Cohu reported fiscal second-quarter 2024 net sales of $104.7 million, down from $168.9 million a year earlier, with a GAAP net loss of $15.8 million, or $0.34 per share, compared with net income of $10.6 million a year earlier. The company also expects third-quarter 2024 sales of $95 million, plus or minus $5 million, which signals continued weak revenue for shareholders.
Q2 2024 net sales were $104.7 million, versus $107.6 million in Q1 2024 and $168.9 million in Q2 2023.
GAAP net loss was $15.8 million, or $0.34 per share; non-GAAP net loss was $0.6 million, or $0.01 per share.
Q3 2024 sales guidance is $95 million, plus or minus $5 million.
Total cash and investments were $262.4 million at the end of Q2 2024, and the company repurchased 267,000 shares for about $8.2 million.
Knowles reported second-quarter 2024 revenue of $204.7 million, up 18% from a year earlier, with non-GAAP diluted EPS of $0.24. GAAP results were a diluted loss of $2.90 per share, driven by a $249.4 million goodwill impairment charge tied to the Consumer MEMS Microphones reporting unit. For shareholders, the revenue growth and third-quarter outlook sit alongside a large GAAP loss from the impairment.
Q2 2024 revenue was $204.7 million, up 18% from $173.0 million in Q2 2023 and up from $196.4 million in Q1 2024.
GAAP diluted loss per share was $(2.90), compared with $0.15 in Q2 2023; the goodwill impairment accounted for $2.77 per share.
Non-GAAP diluted EPS was $0.24, versus $0.23 a year earlier; net cash from operating activities was $24.9 million.
Q3 2024 guidance: revenue of $210 to $220 million and non-GAAP diluted EPS of $0.29 to $0.33.
Connection (PC Connection, Inc.) reported second-quarter 2024 net sales of $736.5 million, up 0.4% from a year earlier, and net income of $26.2 million, up 32.8%, or $0.99 per diluted share versus $0.75. The company described the quarter as a record for net income and earnings per share, while the Public Sector Solutions segment's sales fell 14.0%. The board also declared a quarterly dividend of $0.10 per share.
Net sales were $736.5 million, up 0.4% year over year; gross profit rose 6.9% to $136.5 million and gross margin widened 112 basis points to 18.5%.
Net income was $26.2 million, up 32.8%; diluted EPS was $0.99 versus $0.75 a year earlier.
Public Sector Solutions net sales fell 14.0% to $159.5 million, while Business Solutions and Enterprise Solutions sales rose 6.6% and 4.1%.
Quarterly dividend of $0.10 per share is payable August 30, 2024, to shareholders of record on August 13, 2024.
MGIC Investment Corp reported second-quarter 2024 net income of $204.2 million, or $0.77 per diluted share, up from $191.1 million, or $0.66 per share, in the same quarter of 2023. Total revenues rose to $305.3 million from $290.7 million, and new insurance written was $13.5 billion versus $12.4 billion a year earlier. The company also repurchased $157.0 million of its stock in the quarter and has an additional $750 million buyback authorization that runs through December 31, 2026.
Net income was $204.2 million, or $0.77 per diluted share, compared with $191.1 million, or $0.66 per share, in Q2 2023 and $174.1 million, or $0.64 per share, in Q1 2024.
Adjusted net operating income was $204.9 million, or $0.77 per diluted share, compared with $0.68 per share in Q2 2023.
Total revenues were $305.3 million, compared with $290.7 million in Q2 2023; net premiums earned were $243.5 million.
The company repurchased 7.6 million shares for $157.0 million in Q2 2024 and declared a $0.13 per share dividend payable August 22, 2024.
Cognizant reported second-quarter 2024 revenue of $4.85 billion, down 0.7% from $4.89 billion a year earlier, but above the high end of its guidance range. GAAP diluted EPS rose to $1.14 from $0.91, and the company narrowed its full-year 2024 revenue guidance to a decline of 0.5% to growth of 1.0% in constant currency. The company also signed a definitive agreement to acquire Belcan for $1.3 billion in cash and stock.
Q2 2024 revenue of $4.85 billion, down 0.7% year over year; GAAP operating margin 14.6% vs 11.8% a year earlier
GAAP diluted EPS $1.14 vs $0.91; adjusted diluted EPS $1.17 vs $1.10
Full-year 2024 adjusted EPS guidance of $4.62 to $4.70; adjusted operating margin guidance unchanged at 15.3% to 15.5%
Belcan acquisition for $1.3 billion in cash and stock, expected to close in Q3 2024; quarterly dividend of $0.30 per share declared
FormFactor reported second-quarter fiscal 2024 revenue of $197.5 million, up 17.0% from the first quarter and 26.7% from a year earlier, with GAAP net income of $19.4 million, or $0.25 per diluted share. For the third quarter, it expects revenue of $200 million plus or minus $5 million and GAAP earnings of $0.20 per diluted share plus or minus $0.04, with the company citing expected demand levels similar to the second quarter and a less favorable DRAM product mix.
Q2 revenue of $197.5 million, up from $168.7 million in Q1 and $155.9 million a year earlier
GAAP net income of $19.4 million ($0.25 per diluted share), versus $21.8 million ($0.28) in Q1, which included a $20.3 million gain on sale of business, and $0.8 million ($0.01) a year earlier
Non-GAAP net income of $27.3 million ($0.35 per diluted share) in Q2
Q3 outlook: revenue of $200 million +/- $5 million; GAAP EPS of $0.20 +/- $0.04; non-GAAP EPS of $0.31 +/- $0.04
LXP Industrial Trust reported second quarter 2024 results. Total gross revenues fell to $85.8 million from $87.1 million a year earlier, mainly due to property sales, while net income attributable to common shareholders was $3.8 million, or $0.01 per diluted share, compared with a loss a year earlier. Adjusted Company FFO declined to $46.9 million, or $0.16 per diluted share, from $52.7 million, or $0.18, and the company narrowed its 2024 Adjusted Company FFO guidance to $0.62 to $0.65 per diluted share.
Total gross revenues were $85.8 million, versus $87.1 million for the quarter ended June 30, 2023, which the company attributed mainly to property sales and lower other revenue.
Net income attributable to common shareholders was $3.8 million, or $0.01 per diluted share, versus a loss of $(9.7) million, or $(0.03) per diluted share, a year earlier.
Adjusted Company FFO was $46.9 million, or $0.16 per diluted share, versus $52.7 million, or $0.18 per diluted share, a year earlier.
For 2024, the company estimates net income attributable to common shareholders of $0.10 to $0.13 per diluted share and tightened its Adjusted Company FFO range to $0.62 to $0.65 per diluted share.
Penske Automotive Group reported second quarter 2024 revenue up 3% from a year earlier to a record $7.7 billion. Net income attributable to common stockholders fell 19.8% to $241.2 million, and earnings per share fell to $3.61 from $4.41, so profit declined even as sales grew. The board also approved a quarterly dividend of $1.07 per share, an 11% increase.
Revenue rose 3% to $7.7 billion, a quarterly record, versus $7.5 billion in Q2 2023.
Net income attributable to common stockholders was $241.2 million versus $300.8 million; EPS was $3.61 versus $4.41.
Quarterly dividend raised 11% to $1.07 per share, payable September 4, 2024, to holders of record as of August 15, 2024.
Lincoln Electric reported second-quarter 2024 net sales of $1,022 million, down 3.7% from a year earlier, and diluted EPS of $1.77, versus $2.36 in the prior-year quarter. Adjusted EPS fell to $2.34 from $2.44, so both sales and profit declined for shareholders in the period.
Net sales fell 3.7% to $1,022 million; organic sales decreased 4.4% and acquisitions added 1.2%
Diluted EPS was $1.77 versus $2.36; special item charges reduced EPS by $0.57; adjusted EPS was $2.34 versus $2.44
Operating income was $148.8 million (14.6% of sales) versus $178.0 million, including $26.5 million of rationalization and asset impairment charges
Cash from operations was $171 million, and the company returned $91 million to shareholders through dividends and share repurchases
Graham Holdings reported second-quarter 2024 revenue of $1,185.3 million, up 7% from a year earlier, led by education, healthcare and automotive. It swung to a net loss attributable to common shareholders of $21.0 million ($4.79 per share), compared with income of $122.8 million ($25.89 per share) in the second quarter of 2023, mainly due to $26.3 million of goodwill and intangible asset impairment charges at World of Good Brands and a $73.5 million interest expense tied to a fair value adjustment. Excluding these and other listed items, adjusted net income was $56.9 million ($12.70 per share), down from $61.1 million ($12.88 per share).
Revenue: $1,185.3 million, up 7% from $1,105.0 million in Q2 2023
Operating income: $25.9 million, down from $58.1 million, due to impairment charges at World of Good Brands
Net loss attributable to common shareholders: $21.0 million ($4.79 per share), versus income of $122.8 million ($25.89 per share) a year earlier
Adjusted net income (non-GAAP): $56.9 million ($12.70 per share), versus $61.1 million ($12.88 per share)
BorgWarner reported second-quarter 2024 net sales of $3.6 billion, down 2% from a year earlier, while GAAP diluted EPS rose to $1.39 from $0.97 and adjusted EPS rose to $1.19 from $1.06. For full-year 2024, the company cut its net sales guidance to $14.1 billion to $14.4 billion from $14.4 billion to $14.9 billion, but raised its adjusted operating margin and adjusted EPS guidance.
Q2 2024 net sales were $3,603 million, down 2% from $3,671 million; organic sales fell 0.3%.
Full-year net sales guidance cut to $14.1 billion to $14.4 billion from $14.4 billion to $14.9 billion, citing lower market production and weaker foreign currencies.
Adjusted EPS guidance raised to $3.95 to $4.15 from $3.80 to $4.15; adjusted operating margin guidance raised to 9.6% to 9.8% from 9.2% to 9.6%.
Company plans to repurchase $300 million of shares in the second half of 2024 and announced a restructuring of its ePropulsion segment with about $100 million in annual savings expected by 2026.
Oshkosh reported second-quarter 2024 net sales of $2.85 billion, up 18.0%, driven by organic volume, the AeroTech acquisition and pricing. GAAP diluted earnings per share fell to $2.56 from $2.67 after $51.6 million of intangible asset impairments in the Defense segment, while adjusted EPS rose to $3.34 from $2.74. The company lowered its 2024 GAAP EPS outlook to $10.45 from $10.55 and raised its adjusted EPS outlook to $11.75 from $11.25.
Q2 net sales $2.85 billion, up 18.0%; GAAP net income $168.6 million versus $175.0 million a year earlier
GAAP diluted EPS $2.56 versus $2.67; adjusted EPS $3.34 versus $2.74
Clean Harbors reported second-quarter 2024 results on July 31, 2024, with revenue up 11% to $1.55 billion and net income up 15% to $133.3 million, or $2.46 per diluted share. The company raised its full-year 2024 Adjusted EBITDA guidance to a range of $1.125 billion to $1.165 billion, which points to higher expected profit for shareholders.
Q2 2024 revenue rose 11% to $1.55 billion, and income from operations rose 14% to $215.5 million.
Net income was $133.3 million, or $2.46 per diluted share, compared with $2.13 per diluted share in Q2 2023.
Full-year 2024 Adjusted EBITDA guidance raised to $1.125 billion to $1.165 billion, midpoint $1.145 billion.
Company expects Q3 2024 Adjusted EBITDA to grow 20% to 24% from Q3 2023.
Gates Industrial reported second-quarter 2024 net sales of $885.5 million, down 5.4% from the prior year, while net income attributable to shareholders rose to $70.7 million, or $0.26 per diluted share, from $64.9 million, or $0.23. The company trimmed its 2024 guidance for core sales, adjusted EBITDA and adjusted EPS, and authorized a new $250 million share repurchase program valid through December 2025.
Q2 net sales $885.5 million, down 5.4%; core sales declined 4.0%
Net income attributable to shareholders $70.7 million, or $0.26 per diluted share, versus $0.23 a year earlier; adjusted EPS $0.36 versus $0.34
Adjusted EBITDA guidance lowered to $740 million to $770 million from $745 million to $805 million; adjusted EPS guidance to $1.29 to $1.35 from $1.28 to $1.43
New $250 million share repurchase authorization, valid through December 2025, replacing one set to expire in October 2024
The Chefs' Warehouse reported results for the second quarter ended June 28, 2024, with net sales up 8.3% to $954.7 million and GAAP net income of $15.5 million, or $0.37 per diluted share, compared with $9.9 million, or $0.25, a year earlier. The company also issued fiscal 2024 guidance of $3.665 billion to $3.785 billion in net sales and $208.0 million to $219.0 million in adjusted EBITDA, which shareholders can compare with future results.
Net sales rose 8.3% to $954.7 million from $881.8 million; organic sales grew about 7.2%.
GAAP net income was $15.5 million, or $0.37 per diluted share, versus $9.9 million, or $0.25, in Q2 2023.
Adjusted EBITDA was $56.2 million versus $51.1 million; adjusted net income per share was $0.40 versus $0.35.
Fiscal 2024 guidance: net sales $3.665 billion to $3.785 billion; gross profit $874.0 million to $902.0 million; adjusted EBITDA $208.0 million to $219.0 million.
Vita Coco reported second-quarter 2024 results on July 31, 2024, with net sales up 3% to $144 million and net income of $19 million, compared with $18 million a year earlier. Adjusted EBITDA rose to $32 million from $24 million, and the company reaffirmed its full-year 2024 guidance of $500 million to $510 million in net sales and $76 million to $82 million in adjusted EBITDA. For shareholders, the quarter showed higher sales and profit, while the company said gross margin is expected to be pressured in the second half by higher ocean freight costs on certain routes.
Q2 2024 net sales rose 3% to $144 million; Vita Coco Coconut Water net sales grew 4%.
Q2 net income was $19 million, or $0.32 per diluted share, versus $18 million, or $0.31, a year earlier.
Q2 gross margin was 41%, up from 37%, driven mainly by lower finished goods and transportation costs.
Full-year 2024 guidance was reaffirmed: net sales of $500 million to $510 million and adjusted EBITDA of $76 million to $82 million.
Verisk reported second-quarter 2024 results with revenue of $717 million, up 6.2%, and income from continuing operations of $308 million, up 50.7%. The increase in income was primarily driven by a $98.3 million gain tied to settled retained interests from prior business sales, and the company left its 2024 financial guidance unchanged.
Diluted EPS was $2.15, up 52.5%; diluted adjusted EPS was $1.74, up 15.2%
Adjusted EBITDA was $397 million, up 8.8%; free cash flow was $154 million, up 14.3%
Income growth was primarily driven by a $98.3 million net gain on settlement of retained interests
2024 guidance remains unchanged, including revenue of $2,840 million to $2,900 million
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.
Briefs marked “Written later” were written in November 2026 for filings that were by then more than three weeks old, so months before mid-October 2026 hold a selection: every material 8-K of the past year for the 100 largest companies we cover and the last 15 important 8-Ks of every other one. Briefs the number check holds back are not shown or counted. Also: the last 45 days, briefs by company, A–Z and the live SEC filings wire.