AI filing briefs · archive

8-K filings in July 2024, explained

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).

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ARANTERO RESOURCES Corp Jul 31, 4:46 PM ET

Antero Resources posts $66 million Q2 net loss, narrower than a year ago, and raises output guidance

Positive guidance Written later 2.02

Antero Resources reported a second quarter 2024 net loss of $66 million, compared with a net loss of $83 million in the year-ago quarter, and Adjusted EBITDAX of $151 million, up from $113 million. The company raised its full-year 2024 production guidance to 3.375 to 3.425 Bcfe/d and its C3+ NGL realized price guidance, citing higher liquids volumes and stronger well performance.

  • Q2 2024 net loss was $66 million versus $83 million in Q2 2023; Adjusted Net Loss was $60 million (non-GAAP).
  • Adjusted EBITDAX rose to $151 million from $113 million, and net cash from operating activities was $143 million.
  • Full-year 2024 production guidance was raised to 3.375 to 3.425 Bcfe/d, and C3+ NGL realized price guidance was raised to a $1.00 to $2.00 per barrel premium to Mont Belvieu.
  • S&P upgraded Antero to BBB- on May 15, 2024, and on July 30, 2024 the company entered a new unsecured credit facility with $1.65 billion in lender commitments.
Read the filing on SEC.gov ↗
HSTHOST HOTELS & RESORTS, INC. Jul 31, 4:43 PM ET

Host Hotels & Resorts cuts 2024 guidance despite 13.1% Q2 net income rise

Mixed guidance Written later 2.02

Host Hotels & Resorts reported second-quarter 2024 revenue of $1.466 billion, up 5.2%, and net income of $242 million, up 13.1%, with diluted EPS of $0.34 versus $0.29. The company lowered its full-year 2024 guidance, citing a slower Maui recovery and moderating leisure demand, which lowers the midpoints of net income and Adjusted EBITDAre for shareholders.

  • Q2 2024 revenue was $1.466 billion, up 5.2%, and comparable hotel RevPAR rose 0.1%.
  • Q2 net income was $242 million, up 13.1%, helped by $53 million more in insurance settlement gains than in Q2 2023.
  • Full-year 2024 net income guidance is $683 million to $741 million, a $35 million cut at the midpoint versus the prior range of $719 million to $775 million.
  • Full-year 2024 diluted EPS guidance is $0.95 to $1.03, down $0.05 at the midpoint from $1.00 to $1.08.
Read the filing on SEC.gov ↗
IVTInvenTrust Properties Corp. Jul 31, 4:06 PM ET

InvenTrust Raises 2024 Same Property NOI Guidance; Q2 Net Income Falls to $1.5 Million

Positive guidance Written later 2.02

InvenTrust reported second-quarter 2024 results on July 31, 2024. Nareit FFO rose to $0.44 per diluted share from $0.43 a year earlier, while Core FFO was flat at $0.43 and net income fell to $1.5 million from $2.1 million. The company raised its 2024 Same Property NOI growth guidance to 3.50% to 4.50% from 2.75% to 3.75%, and raised the low end of its Nareit FFO and Core FFO ranges.

  • Net income for Q2 2024 was $1.5 million, or $0.02 per diluted share, versus $2.1 million, or $0.03, in Q2 2023.
  • Nareit FFO was $0.44 per diluted share versus $0.43; Core FFO was $0.43 per diluted share in both periods.
  • 2024 Same Property NOI growth guidance was raised to 3.50% to 4.50% from 2.75% to 3.75%.
  • Net Debt-to-Adjusted EBITDA was 5.2x as of June 30, 2024, compared with 4.9x as of December 31, 2023.
Read the filing on SEC.gov ↗

Independence Realty Trust raises 2024 guidance midpoint as Q2 EPS holds at $0.05

Mixed guidance Written later 2.027.01

Independence Realty Trust reported second quarter 2024 results on July 31, 2024, with diluted EPS of $0.05, the same as a year earlier, and net income available to common shares of $10.4 million versus $10.7 million. The company raised the midpoint of its full-year 2024 EPS, FFO, CFFO per share and same-store NOI guidance, which matters to shareholders because it lifts the company's own outlook even though reported Q2 profit was flat.

  • Q2 2024 net income available to common shares was $10.4 million, versus $10.7 million in Q2 2023; diluted EPS was $0.05 in both periods.
  • CFFO was $63.6 million, or $0.28 per share, versus $63.7 million and $0.28 per share a year earlier.
  • 2024 EPS guidance is now $0.36 to $0.38, up from $0.34 to $0.38; the midpoint rose $0.01.
  • Same-store NOI grew 2.8% in Q2 2024; full-year same-store NOI growth guidance is now 2.7% to 3.7%, up from 1.0% to 4.0%.
Read the filing on SEC.gov ↗
UEUrban Edge Properties Jul 31, 6:59 AM ET

Urban Edge raises 2024 FFO guidance; Q2 FFO per diluted share rises to $0.47

Positive guidance Written later 2.027.01

Urban Edge Properties reported second-quarter 2024 results on July 31, 2024, with net income attributable to common shareholders of $30.8 million, or $0.26 per diluted share, compared with $10.3 million, or $0.09, a year earlier. The company raised the low end of its full-year 2024 FFO as Adjusted guidance and raised its net income and FFO ranges, which points to higher expected earnings for shareholders.

  • Q2 2024 FFO per diluted share was $0.47, up from $0.29 in Q2 2023; FFO as Adjusted per diluted share was $0.32, up from $0.30.
  • Q2 net income included a $21.7 million gain on extinguishment of debt tied to the Kingswood Center foreclosure and a $13.4 million gain on sale of real estate.
  • Full-year 2024 FFO per diluted share guidance was raised to $1.42 to $1.45 from $1.22 to $1.27.
  • Full-year FFO as Adjusted per diluted share guidance is now $1.29 to $1.32, up from $1.27 to $1.32, with the low end raised.
Read the filing on SEC.gov ↗
PSNPARSONS CORP Jul 31, 6:30 AM ET

Parsons raises 2024 guidance after Q2 revenue rises 23% to $1.7 billion

Positive guidance Written later 2.02

Parsons reported second-quarter 2024 revenue of $1.7 billion, up 23% from a year earlier, and net income attributable to Parsons of $69 million, up 60%. The company raised its fiscal 2024 revenue, adjusted EBITDA and operating cash flow guidance ranges, and said it has agreed to acquire BlackSignal Technologies for approximately $200 million.

  • Q2 2024 revenue $1.7 billion, up 23%; organic growth 22%
  • Q2 diluted EPS $0.63 vs. $0.38 a year earlier; adjusted EBITDA $150 million, up 27%
  • FY2024 revenue guidance raised to $6.35 billion-$6.55 billion from $6.1 billion-$6.4 billion
  • Six-month net loss attributable to Parsons of $38.2 million, including a $211 million loss on extinguishment of debt
Read the filing on SEC.gov ↗
LIVNLivaNova PLC Jul 31, 6:01 AM ET

LivaNova raises 2024 guidance as Q2 revenue rises 8.4% to $318.6 million

Positive guidance Written later 2.02

LivaNova reported second-quarter 2024 revenue of $318.6 million, up 8.4% from a year earlier, and adjusted diluted earnings per share of $0.93 versus $0.78. The company raised its full-year 2024 revenue and adjusted earnings per share guidance, which signals improved expected results for shareholders.

  • Q2 2024 revenue of $318.6 million rose 8.4% on a reported basis and 9.6% on a constant-currency basis
  • Q2 2024 U.S. GAAP diluted EPS was $0.30, compared with $0.02 in Q2 2023; adjusted diluted EPS was $0.93, compared with $0.78
  • Full-year 2024 adjusted diluted EPS is now expected to be $3.10 to $3.20, and constant-currency revenue growth 7% to 8%
  • A $6.6 million increase in the Italian payback law reserve reduced net revenue
Read the filing on SEC.gov ↗
GNRCGENERAC HOLDINGS INC. Jul 31, 6:01 AM ET

Generac raises 2024 outlook as Q2 net income rises to $59 million

Positive guidance Written later 2.025.02

Generac reported second-quarter 2024 results with net sales of $998 million, roughly flat year over year, while diluted earnings per share rose to $0.97 from $0.70. The company raised its full-year 2024 net sales growth and adjusted EBITDA margin guidance, citing recent power outage activity including Hurricane Beryl. The filing also disclosed stockholder approval on June 13, 2024 of an amendment adding 3,900,000 shares to the 2019 Equity Incentive Plan.

  • Q2 net sales were $998 million versus $1.00 billion a year earlier; core sales were approximately flat.
  • Diluted EPS was $0.97 versus $0.70; adjusted EPS was $1.35 versus $1.08.
  • Adjusted EBITDA was $165 million, or 16.5% of net sales, versus $137 million, or 13.6%, a year earlier.
  • Full-year 2024 net sales growth guidance rose to 4% to 8% from 3% to 7%; adjusted EBITDA margin guidance rose to 17.0% to 18.0% from 16.5% to 17.5%.
Read the filing on SEC.gov ↗
AATAmerican Assets Trust, Inc. Jul 30, 4:21 PM ET

American Assets Trust raises 2024 FFO guidance to $2.48-$2.54; CEO transition set

Positive guidance Written later 2.025.027.01

American Assets Trust reported second-quarter 2024 FFO per diluted share of $0.60, up 2% year over year, and raised its full-year 2024 FFO per diluted share guidance to $2.48 to $2.54 from $2.24 to $2.34. The company also said Chairman and CEO Ernest Rady will become Executive Chairman and President Adam Wyll will become CEO, both effective January 1, 2025, with the guidance increase partly attributable to an $11 million lease termination fee to be recognized in the third quarter.

  • Q2 2024 FFO per diluted share was $0.60, up from $0.59 a year earlier; six-month FFO per diluted share was $1.32, up 6%.
  • Q2 2024 net income attributable to common stockholders was $11.9 million, or $0.20 per diluted share, compared with $12.0 million, or $0.20, a year earlier.
  • 2024 FFO per diluted share guidance raised to $2.48 to $2.54, a 9.6% increase at midpoint; partly attributable to an $11 million lease termination fee recognized in Q3 2024.
  • Ernest Rady transitions from CEO to Executive Chairman and Adam Wyll becomes CEO, both effective January 1, 2025.
Read the filing on SEC.gov ↗
HAYWHayward Holdings, Inc. Jul 30, 7:06 AM ET

Hayward Q2 net income rises 28%, but full-year sales and EBITDA guidance tops are cut

Mixed guidance Written later 2.02

Hayward Holdings reported second-quarter fiscal 2024 net sales of $284.4 million, up from $283.5 million a year earlier, and net income of $37.6 million, up 28%. The company narrowed its full-year 2024 guidance, lowering the top of its net sales range to $1.040 billion from $1.060 billion and the top of its Adjusted EBITDA range to $270 million from $275 million, citing a more challenging demand environment.

  • Q2 net income rose 28% to $37.6 million; diluted EPS was $0.17, up 31%; adjusted diluted EPS was $0.21, up 11%.
  • Q2 Adjusted EBITDA was $82.6 million, up from $79.5 million; gross profit margin rose 290 basis points to 51.0%.
  • Full-year 2024 net sales guidance is now $1.010 billion to $1.040 billion, versus prior $1.010 billion to $1.060 billion.
  • Full-year 2024 Adjusted EBITDA guidance is now $255 million to $270 million, versus prior $255 million to $275 million.
Read the filing on SEC.gov ↗
HWMHowmet Aerospace Inc. Jul 30, 7:05 AM ET

Howmet Aerospace Q2 revenue up 14% to $1.88 billion; guidance raised, buyback raised to $2.487 billion

Positive guidance Written later 2.02

Howmet Aerospace reported record second quarter 2024 revenue of $1.88 billion, up 14% year over year, and net income of $266 million, or $0.65 per share, versus $193 million, or $0.46 per share, a year earlier. The company raised full year 2024 guidance for all metrics, increased its share repurchase authorization by $2 billion to $2.487 billion, and raised the third quarter dividend 60% to $0.08 per share.

  • Q2 2024 revenue $1.88 billion, up 14%; commercial aerospace revenue up 27%
  • Net income $266 million, EPS $0.65, versus $0.46 in Q2 2023
  • Full year 2024 revenue guidance baseline $7.440 billion; adjusted EPS guidance baseline $2.55
  • Share repurchase authorization raised to $2.487 billion; Q3 dividend $0.08 per share, payable August 26, 2024
Read the filing on SEC.gov ↗

Armstrong World Industries Q2 sales up 12%, record earnings, and raises 2024 guidance

Positive guidance Written later 2.025.037.01

Armstrong World Industries reported record second-quarter 2024 results, with net sales up 12.2% to $365.1 million and diluted EPS up 11.9% to $1.50. The company raised all key full-year 2024 guidance metrics, including adjusted diluted EPS of $6.00 to $6.15, and also removed an outside-director requirement from its compensation committee bylaws.

  • Q2 2024 net sales $365.1 million, up 12.2%; operating income $95.0 million, up 9.2%
  • Q2 diluted EPS $1.50 vs. $1.34; adjusted diluted EPS $1.62 vs. $1.38, up 17.4%
  • 2024 guidance raised: net sales $1,415 million to $1,440 million; adjusted diluted EPS $6.00 to $6.15
  • Bylaws amended effective July 24, 2024 to remove the outside-director requirement for compensation committee members
Read the filing on SEC.gov ↗
CSRCENTERSPACE Jul 29, 4:33 PM ET

Centerspace raises 2024 Core FFO per share guidance midpoint; Q2 net loss narrows

Positive guidance Written later 2.02

Centerspace reported second-quarter 2024 results and raised the midpoint of its 2024 Core FFO per diluted share outlook, narrowing the range to $4.78 to $4.92 from $4.74 to $4.92. Q2 net loss was $0.19 per diluted share, compared with a $0.23 loss a year earlier, while Core FFO per diluted share was $1.27 versus $1.28 in the prior-year quarter.

  • Updated 2024 Core FFO per diluted share outlook: $4.78 to $4.92, up from $4.74 to $4.92; net income per diluted share outlook raised to $(1.21) to $(1.01) from $(1.34) to $(1.10)
  • Q2 2024 net loss of $0.19 per diluted share vs. $0.23 loss in Q2 2023; Q2 Core FFO of $1.27 per diluted share vs. $1.28
  • Six-month Core FFO per diluted share rose 5.5% to $2.49; same-store NOI rose 2.4% in Q2 2024 year over year
  • Unsecured credit facility maturity extended to July 2028 on July 26, 2024; borrowing capacity stayed at $250.0 million
Read the filing on SEC.gov ↗
SBACSBA COMMUNICATIONS CORP Jul 29, 4:15 PM ET

SBA Communications cuts 2024 revenue outlook as Q2 net income falls 21%

Negative guidance Written later 2.02

SBA Communications reported second-quarter 2024 total revenues of $660.5 million, down 2.7%, and net income of $159.5 million, or $1.51 per diluted share, down from $1.87 a year earlier. The company also lowered its full-year 2024 revenue and Adjusted EBITDA outlook, which weighs on shareholders, while declaring a $0.98 quarterly dividend.

  • Q2 2024 total revenues were $660.5 million, down from $678.5 million; net income was $159.5 million, or $1.51 per diluted share, versus $202.0 million, or $1.87, in Q2 2023
  • Net income included a $66.2 million after-tax loss on currency remeasurement of intercompany loans
  • Full-year 2024 total revenue outlook is now $2,642.0 million to $2,672.0 million, a $20.0 million cut at the midpoint; Adjusted EBITDA outlook is $1,876.0 million to $1,896.0 million, down $13.0 million at the midpoint
  • Quarterly dividend of $0.98 per share is payable September 18, 2024 to holders of record on August 22, 2024
Read the filing on SEC.gov ↗
CORTCORCEPT THERAPEUTICS INC Jul 29, 4:10 PM ET

Corcept raises 2024 revenue guidance to $640 million to $670 million after 39% Q2 gain

Positive guidance Written later 2.027.01

Corcept Therapeutics reported second-quarter 2024 revenue of $163.8 million, up 39% from a year earlier, and raised its full-year 2024 revenue guidance to $640 million to $670 million from $620 million to $650 million. Diluted earnings per share were $0.32, compared with $0.25 in the second quarter of 2023, though operating expenses rose to $128.2 million from $88.1 million.

  • Q2 2024 revenue of $163.8 million, versus $117.7 million in Q2 2023
  • Diluted EPS of $0.32 versus $0.25; net income of $35.5 million versus $27.5 million
  • 2024 revenue guidance raised to $640 million to $670 million from $620 million to $650 million
  • Cash and investments of $492.5 million at June 30, 2024, up from $451.0 million at March 31, 2024
Read the filing on SEC.gov ↗
CLCOLGATE PALMOLIVE CO Jul 26, 8:00 AM ET

Colgate-Palmolive Q2 2024 EPS rises 48% to $0.89; raises organic sales guidance

Positive guidance Written later 2.02

Colgate-Palmolive reported second quarter 2024 net sales of $5,058 million, up 4.9%, and GAAP diluted EPS of $0.89, up 48% from $0.60. The company raised its full-year 2024 organic sales growth guidance to 6% to 8% and its Base Business EPS growth guidance to 8% to 11%.

  • Organic sales grew 9.0% in the quarter; Base Business EPS rose 18% to $0.91
  • GAAP gross profit margin rose 280 basis points to 60.6%
  • Full-year 2024 organic sales growth guidance raised to 6% to 8% from 5% to 7%
  • Net sales growth guidance of 2% to 5% unchanged, including a mid-single-digit negative foreign exchange impact
Read the filing on SEC.gov ↗
GNTXGENTEX CORP Jul 26, 8:00 AM ET

Gentex cuts 2024 revenue and margin guidance; Q2 net income falls to $86.0 million

Negative guidance Written later 2.02

Gentex reported second-quarter 2024 net sales of $572.9 million, down from $583.5 million a year earlier, and net income of $86.0 million, compared with $109.2 million. The company lowered its 2024 revenue and gross margin guidance, citing weaker light vehicle production and a sales shortfall in June, which reduces its outlook for shareholders.

  • Q2 2024 diluted EPS was $0.37, versus $0.47 in Q2 2023; gross margin was 32.9%, versus 33.1%.
  • Other loss of $13.5 million included $18.3 million in non-cash losses on tech investment holdings.
  • 2024 revenue guidance cut to $2.40-$2.50 billion from $2.45-$2.55 billion; gross margin guidance cut to 34%-34.5% from 34%-35%.
  • 2025 revenue estimate set at approximately $2.6-$2.7 billion.
Read the filing on SEC.gov ↗
DOCHEALTHPEAK PROPERTIES, INC. Jul 25, 4:17 PM ET

Healthpeak raises 2024 EPS guidance to $0.27 to $0.31 as Q2 net income rises

Positive guidance Written later 2.027.01

Healthpeak Properties reported second-quarter 2024 results on July 25, 2024, with diluted net income of $0.21 per share, up from $0.09 a year earlier, while Nareit FFO was $0.44 per share, down from $0.45. The company raised its full-year 2024 diluted earnings per share guidance to $0.27 to $0.31 from $0.16 to $0.20. For shareholders, higher earnings guidance is offset in part by a slight decline in FFO per share, a key REIT measure.

  • Q2 2024 diluted net income of $0.21 per share vs. $0.09 in Q2 2023; Nareit FFO $0.44 vs. $0.45; AFFO $0.39 vs. $0.40
  • Full-year 2024 diluted EPS guidance raised to $0.27 to $0.31 from $0.16 to $0.20; diluted Nareit FFO guidance raised to $1.59 to $1.63 from $1.56 to $1.60
  • Quarterly common dividend of $0.30 per share declared July 24, 2024, payable August 16, 2024, to holders of record on August 5, 2024
  • New $500 million share repurchase authorization effective through July 2026, replacing the existing authorization
Read the filing on SEC.gov ↗
ENSGENSIGN GROUP, INC Jul 25, 4:16 PM ET

Ensign Group raises 2024 earnings and revenue guidance after Q2 profit rises 9%

Positive guidance Written later 2.02

Ensign Group reported second-quarter 2024 GAAP diluted EPS of $1.22, up 8.9% from the prior year quarter, and total revenue of $1.04 billion, up 12.5%. The company raised its full-year 2024 earnings guidance to $5.38 to $5.50 per diluted share and its revenue guidance to $4.20 billion to $4.22 billion, which is favorable for shareholders.

  • Q2 2024 GAAP net income was $71.0 million, up 11.0%; adjusted EPS was $1.32, up 13.8%.
  • Full-year 2024 EPS guidance raised to $5.38 to $5.50 per diluted share, from $5.29 to $5.47.
  • Full-year 2024 revenue guidance raised to $4.20 billion to $4.22 billion, from $4.13 billion to $4.17 billion.
Read the filing on SEC.gov ↗
DECKDECKERS OUTDOOR CORP Jul 25, 4:10 PM ET

Deckers raises FY2025 EPS outlook to $29.75-$30.65 after 87% Q1 diluted EPS rise

Positive guidance Written later 2.02

Deckers reported first-quarter fiscal 2025 results for the quarter ended June 30, 2024, with net sales up 22.1% to $825.3 million and diluted EPS up 87% to $4.52. The company raised its full-year fiscal 2025 diluted EPS guidance to $29.75 to $30.65, and said it expects to divest the Sanuk brand in August 2024.

  • Q1 net sales rose 22.1% to $825.3 million; HOKA brand net sales rose 29.7% to $545.2 million.
  • Q1 diluted EPS was $4.52, compared with $2.41 a year earlier; operating income was $132.8 million versus $70.7 million.
  • Fiscal 2025 diluted EPS guidance is now $29.75 to $30.65; the company now expects gross margin of about 54%.
  • Stefano Caroti is set to become President and CEO next week, succeeding Dave Powers.
Read the filing on SEC.gov ↗
EMEEMCOR Group, Inc. Jul 25, 3:23 PM ET

EMCOR raises 2024 guidance after record Q2 revenue of $3.67 billion and EPS of $5.25

Positive guidance Written later 2.02

EMCOR reported record second-quarter 2024 revenue of $3.67 billion, up 20.4%, and diluted EPS of $5.25, up 78.0% from a year earlier. The company raised its full-year 2024 revenue guidance to $14.5 billion-$15.0 billion and its diluted EPS guidance to $19.00-$20.00, which signals stronger expected profits for shareholders.

  • Q2 2024 net income was $247.6 million, or $5.25 per diluted share, versus $140.6 million, or $2.95, in Q2 2023.
  • Full-year 2024 diluted EPS guidance raised to $19.00-$20.00 from $15.50-$16.50.
  • Full-year 2024 revenue guidance raised to $14.5 billion-$15.0 billion from $14.0 billion-$14.5 billion.
  • Remaining performance obligations were $9.0 billion as of June 30, 2024, up 8.6% year-over-year.
Read the filing on SEC.gov ↗
FTITechnipFMC plc Jul 25, 6:48 AM ET

TechnipFMC Q2 revenue up 17.9% to $2.3 billion; full-year guidance raised

Positive guidance Written later 2.02

TechnipFMC reported second-quarter 2024 revenue of $2,325.6 million, up 17.9% from $1,972.2 million a year earlier, and net income attributable to the company of $186.5 million, or $0.42 per diluted share, compared with a loss of $87.2 million a year earlier. The company raised its 2024 guidance for Subsea revenue, Subsea adjusted EBITDA margin and free cash flow, which gives shareholders a higher outlook for the year.

  • Revenue of $2,325.6 million, up from $2,042.0 million in the first quarter of 2024 and $1,972.2 million in the second quarter of 2023.
  • Diluted earnings of $0.42 per share, compared with a loss of $(0.20) per share a year earlier; adjusted diluted EPS was $0.43.
  • Full-year 2024 Subsea revenue guidance raised to $7.6-7.8 billion from $7.2-7.6 billion; free cash flow guidance raised to $425-575 million from $350-500 million.
  • Total shareholder distributions of $121.5 million in the quarter, including $100 million of share repurchases.
Read the filing on SEC.gov ↗
NOCNORTHROP GRUMMAN CORP /DE/ Jul 25, 6:44 AM ET

Northrop Grumman Q2 sales rise 7% to $10.2 billion; company raises 2024 guidance

Positive guidance Written later 2.02

Northrop Grumman reported second quarter 2024 sales of $10.2 billion, up 7% from a year earlier, and diluted earnings per share of $6.36, up 19%. The company raised its 2024 sales guidance to $41.0 billion to $41.4 billion and its MTM-adjusted EPS guidance to $24.90 to $25.30, which gives shareholders a higher outlook for the year.

  • Q2 net earnings were $940 million, or $6.36 per diluted share, versus $812 million, or $5.34, in Q2 2023
  • Free cash flow rose 80% to $1.1 billion; operating cash flow was $1.4 billion
  • 2024 sales guidance raised to $41.0 billion to $41.4 billion from $40.8 billion to $41.2 billion
  • Mission Systems operating income fell 10% to $361 million on a lower operating margin rate
Read the filing on SEC.gov ↗
BCBRUNSWICK CORP Jul 25, 6:18 AM ET

Brunswick cuts 2024 guidance as second-quarter sales fall 15.2% and EPS declines

Negative guidance Written later 2.02

Brunswick reported second-quarter 2024 net sales of $1,443.9 million, down 15.2% from a year earlier, and GAAP diluted EPS of $1.55, down 18.8%. The company lowered its full-year 2024 outlook, citing weaker retail boat sales and continued cautious ordering by dealers and manufacturers, which points to lower earnings for shareholders this year.

  • Q2 2024 net sales were $1,443.9 million, down from $1,702.3 million in Q2 2023; as adjusted diluted EPS was $1.80, down 23.4%.
  • Full-year 2024 guidance lowered to net sales of $5.2 billion to $5.4 billion and as adjusted diluted EPS of $5.00 to $5.50.
  • Full-year retail unit sales are now expected to be down approximately 10% versus the original forecast of flat.
  • Third-quarter 2024 guidance: net sales of $1.2 billion to $1.3 billion and as adjusted diluted EPS of $1.15 to $1.25.
Read the filing on SEC.gov ↗
CHECHEMED CORP Jul 24, 4:30 PM ET

Chemed raises 2024 EPS outlook to $23.55-$23.80 after 34% Q2 adjusted EPS gain

Positive guidance Written later 2.02

Chemed reported second-quarter 2024 revenue of $595.9 million, up 7.6%, and GAAP diluted EPS of $4.65, up 32.5%. The company raised its full-year 2024 adjusted EPS estimate to $23.55-$23.80 from the prior $23.30-$23.70, a higher outlook for shareholders.

  • Q2 2024 revenue rose 7.6% to $595.9 million; adjusted diluted EPS was $5.47, up 34.1%
  • VITAS revenue rose 16.7% to $374.6 million, while Roto-Rooter revenue fell 5.0% to $221.3 million
  • 2024 adjusted EPS guidance raised to $23.55-$23.80 from $23.30-$23.70
  • As of June 30, 2024, cash and cash equivalents were $222.9 million with no current or long-term debt
Read the filing on SEC.gov ↗
LIILENNOX INTERNATIONAL INC Jul 24, 6:48 AM ET

Lennox Q2 adjusted EPS rises 11% to $6.83 and raises 2024 EPS guidance

Positive guidance Written later 2.02

Lennox reported second-quarter 2024 revenue of $1.45 billion, up 3% (8% for core operations), and GAAP diluted EPS of $6.87 versus $6.10 a year earlier. The company raised its full-year 2024 EPS guidance to $19.50-$20.25 from $19.00-$20.00, which points to higher expected profit for shareholders.

  • Q2 revenue $1.45 billion, up 3%; core revenue up 8%
  • Adjusted diluted EPS $6.83, up 11%; GAAP diluted EPS $6.87 versus $6.10
  • 2024 EPS guidance raised to $19.50-$20.25 from $19.00-$20.00
  • Business Climate Solutions segment margin fell 100 basis points to 24.3% due to new factory ramp-up costs
Read the filing on SEC.gov ↗
GLWCORNING INC /NY Jul 8, 7:15 AM ET

Corning raises Q2 core sales outlook to about $3.6 billion from $3.4 billion

Positive guidance Written later 2.02

Corning said it now expects second-quarter 2024 core sales of about $3.6 billion, up from prior guidance of about $3.4 billion, with core EPS at the high end of or slightly above its $0.42 to $0.46 range. The company credited strong adoption of new optical connectivity products for generative AI and said it began buying back shares in the second quarter. The figures are preliminary and subject to change until closing and review procedures are complete, and full results are due July 30, 2024.

  • Q2 2024 core sales now expected at about $3.6 billion, versus prior guidance of about $3.4 billion
  • Core EPS expected at the high end of or slightly above the guided range of $0.42 to $0.46
  • Company expects a return to year-over-year core sales and core EPS growth in the second quarter
  • Full second-quarter results and outlook to be reported July 30, 2024, at 8:30 a.m. EDT
Read the filing on SEC.gov ↗
FCXFREEPORT-MCMORAN INC Jul 2, 12:17 PM ET

Freeport-McMoRan starts commissioning new Indonesian smelter, updates Q2 2024 sales and 2024 guidance

Neutral guidance Written later 2.028.01

Freeport-McMoRan furnished a July 2, 2024 press release reporting that it has begun commissioning a new Indonesian smelter. The release also updates second-quarter 2024 copper and gold sales and unit net cash costs, and 2024 copper and gold sales guidance. The filing copy provided has an unreadable press release body, so the specific sales, cost and guidance figures could not be verified from this document.

  • Commissioning of a new Indonesian smelter has commenced, according to the July 2, 2024 press release (Exhibit 99.1).
  • The release updates second-quarter 2024 copper and gold sales and unit net cash costs.
  • The release also provides 2024 copper and gold sales guidance; the figures are not legible in the filing copy provided.
  • Filed under Items 2.02, 8.01 and 9.01 on July 2, 2024; the information is furnished, not filed, under Section 18 of the Exchange Act.
Read the filing on SEC.gov ↗

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