352 material Form 8-K filings that 310 companies we cover made with the SEC in August 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).
Bath & Body Works reported second quarter 2024 net sales of $1,526 million, down 2.1% from $1,559 million a year earlier, and adjusted earnings per diluted share of $0.37 versus $0.40. The company updated its full-year 2024 guidance and raised planned share repurchases to $400 million from $300 million, while reported earnings per share rose to $0.68 on one-time gains and a tax benefit.
Q2 2024 net sales $1,526 million, down 2.1%; reported EPS $0.68 vs. $0.43, adjusted EPS $0.37 vs. $0.40
Reported Q2 results include a $39 million pre-tax gain on Easton investment sales and a $44 million tax benefit
Full-year 2024 adjusted EPS guidance $3.06 to $3.26, vs. $3.27 adjusted EPS in fiscal 2023; net sales guided to a decline of 4% to 2%
Planned share repurchases for 2024 increased to $400 million from $300 million; Q3 2024 EPS guidance $0.41 to $0.47
J.M. Smucker reported first-quarter fiscal 2025 results for the period ended July 31, 2024, with net sales up 18% to $2.1 billion, largely from the Hostess Brands acquisition. The company also lowered its full-year adjusted earnings per share guidance to $9.60 to $10.00 from $9.80 to $10.20, citing higher green coffee costs and softer demand in some categories, so shareholders face a mixed picture of strong growth alongside a weaker outlook.
Net sales were $2,125.1 million, up 18%; excluding acquisition, divestitures, and currency, net sales rose 1%.
GAAP net income per diluted share was $1.74, down from $1.79; adjusted EPS was $2.44, up 10% from $2.21.
Full-year fiscal 2025 adjusted EPS guidance was cut to $9.60 to $10.00 from $9.80 to $10.20; net sales growth guidance was lowered to 8.5% to 9.5%.
Free cash flow was $49.2 million, compared with $67.6 million a year earlier; full-year free cash flow guidance was cut to $875 million from $900 million.
REX American Resources reported fiscal second-quarter 2024 results for the three months ended July 31, 2024. Diluted earnings per share rose to $0.70 from $0.52 a year earlier, but net sales and revenue fell to $148.2 million from $212.0 million, mainly due to lower ethanol and co-product pricing. The company also said construction of its One Earth Energy carbon capture facility will run past its previously expected end-of-July completion timeframe.
Net income attributable to REX shareholders was $12.4 million, compared with $9.1 million a year earlier.
Net sales and revenue were $148.2 million, down from $212.0 million, and gross profit rose to $19.8 million from $18.4 million.
The company had $346.0 million of cash, cash equivalents and short-term investments and no bank debt as of July 31, 2024.
EPA projects a draft permit for the carbon capture project by the end of 2024, with a final permit decision in the second quarter of 2025.
Williams-Sonoma reported second quarter 2024 results for the period ended July 28, 2024. Net revenues fell to $1.79 billion from $1.86 billion, while operating margin rose to 16.2% from 14.6% and diluted EPS rose 11.5% to $1.74. The company cut its full-year revenue growth outlook but raised its operating margin outlook, and it said earnings are expected to be materially in line with its prior implied EPS guidance.
Q2 net revenues were $1,788.3 million, down from $1,862.6 million a year earlier; comparable brand revenue fell 3.3%.
Q2 operating income was $289.9 million, with operating margin up 160 basis points to 16.2%; diluted EPS was $1.74 versus $1.56.
Fiscal 2024 net revenue growth is now expected at -4.0% to -1.5%, down from the prior outlook.
Fiscal 2024 operating margin is now expected at 18.0% to 18.4%, including a 60 basis point benefit from a $49 million freight expense out-of-period adjustment.
Nordson reported fiscal third-quarter 2024 sales of $662 million, up 2% from a year earlier, while diluted EPS fell to $2.04 from $2.22 and adjusted EPS fell 6% to $2.41. The company raised its full-year revenue guidance to $2,665 million to $2,705 million to include the Atrion acquisition, but kept its adjusted EPS midpoint unchanged, so shareholders get higher expected sales with profit expectations held steady.
Q3 sales were $662 million, up 2%, including a 4% acquisition benefit and a 1% organic decline.
Diluted EPS was $2.04 versus $2.22 a year earlier; adjusted diluted EPS was $2.41 versus $2.55.
Full-year revenue guidance raised to $2,665 million to $2,705 million; adjusted EPS guidance narrowed to $9.45 to $9.65, midpoint unchanged.
Management will provide further commentary in a webcast on August 22, 2024 at 8:30 a.m. Eastern.
La-Z-Boy reported fiscal first-quarter results for the period ended July 27, 2024, with sales up 3% to $496 million, led by its Wholesale segment. GAAP diluted earnings per share fell to $0.61 from $0.63, and the GAAP operating margin declined to 6.5% from 7.2%, so shareholders see higher sales alongside lower GAAP profit. The company also guided second-quarter sales to $495 million to $515 million and a Non-GAAP operating margin of 6% to 7%.
Consolidated sales rose 3% to $496 million; Wholesale segment sales increased 5% to $351 million.
GAAP diluted EPS was $0.61 versus $0.63 a year earlier; Non-GAAP diluted EPS was $0.62, flat year over year.
Retail segment delivered sales fell 3% to $202 million, and Retail GAAP operating margin was 10.2% versus 14.1%.
Second-quarter fiscal 2025 guidance: sales of $495 million to $515 million and Non-GAAP operating margin of 6% to 7%.
For the fiscal fourth quarter ended June 27, 2024, net sales rose 15.1% to $269.6 million, mainly from the Lakeville snack bar acquisition, while diluted EPS fell 31.7% to $0.86 and gross profit fell 8.6%. Excluding Lakeville, quarterly net sales declined 3.8%. For the full year, diluted EPS fell 4.6% to $5.15 on net sales of $1.07 billion, and the company raised its annual dividend and declared a special dividend, both payable September 11, 2024.
Q4 diluted EPS fell 31.7% to $0.86; gross profit fell 8.6% to $50.0 million
Excluding the Lakeville Acquisition, Q4 net sales fell 3.8%, with sales volume down 1.9% and weighted average price per pound down 1.9%
Full-year net sales rose 6.7% to $1.07 billion; diluted EPS fell 4.6% to $5.15
Annual dividend raised 6.3% to $0.85 per share, plus a $1.25 special dividend, both payable September 11, 2024
Keysight reported fiscal third-quarter 2024 results for the period ended July 31, 2024, with revenue of $1.22 billion, down 12% from $1.38 billion a year earlier. GAAP net income rose to $389 million, or $2.22 per share, which includes a 94-cent year-to-date benefit from a change in effective tax rate, while non-GAAP net income fell to $275 million, or $1.57 per share, from $393 million. The company expects fourth-quarter revenue of $1.245 billion to $1.265 billion.
Revenue of $1.22 billion versus $1.38 billion in Q3 2023; Communications Solutions Group down 8% and Electronic Industrial Solutions Group down 20%
GAAP diluted EPS of $2.22 versus $1.61; includes a 94-cent year-to-date benefit from a change in effective tax rate
Non-GAAP EPS of $1.57 versus $2.19; fourth-quarter fiscal 2024 non-GAAP EPS guidance of $1.53 to $1.59
Applied Industrial Technologies reported fiscal 2024 fourth-quarter net income of $103.5 million, or $2.64 per diluted share, up 12.6% from a year earlier, on net sales of $1.2 billion that rose 0.2%. Organic daily sales fell 2.0%, and the company said sales through mid-August were trending down by a mid single-digit percent, while it guided fiscal 2025 EPS to $9.20 to $9.95, compared with full-year fiscal 2024 adjusted EPS of $9.75.
Q4 fiscal 2024 net income $103.5 million, or $2.64 per diluted share, up 12.6%; EBITDA $153.5 million, up 9.6%
Q4 net sales $1.2 billion, up 0.2%, but down 2.0% on an organic daily basis
Fiscal 2025 guidance: EPS $9.20 to $9.95 and total sales down 2.5% to up 2.5%
Acquisitions of Total Machine Solutions and Stanley Proctor expected to generate combined annual sales of approximately $17 million in the first year
Mercury Systems reported fourth-quarter and fiscal 2024 results with revenue down and a larger GAAP net loss than a year earlier, though fourth-quarter adjusted EBITDA rose. The company also amended its credit agreement, cutting total commitments from $1.1 billion to $900.0 million, with $591.5 million outstanding both before and after the change.
Q4 fiscal 2024 revenue was $248.6 million versus $253.2 million a year earlier; GAAP net loss was $10.8 million ($0.19 per share) versus $8.2 million ($0.15 per share).
Fiscal 2024 revenue was $835.3 million versus $973.9 million; GAAP net loss was $137.6 million ($2.38 per share) versus $28.3 million ($0.50 per share).
Q4 adjusted EBITDA was $31.2 million versus $21.9 million; full-year adjusted EBITDA was $9.4 million versus $132.3 million.
Amendment No. 6, dated August 13, 2024, lowers the revolver cap to $750.0 million until a $75.0 million minimum consolidated EBITDA test is met, raises permitted receivables factoring to $100.0 million from $60.0 million, and sets maturity
RadNet reported second-quarter 2024 revenue of $459.7 million, up 13.9%, and raised its 2024 guidance for Imaging Center revenue, Adjusted EBITDA and free cash flow. GAAP results were weaker: the company posted a net loss attributable to RadNet of $3.0 million, or $(0.04) per share, compared with net income of $8.4 million, or $0.12 per diluted share, a year earlier.
Total Company Revenue rose 13.9% to $459.7 million in Q2 2024 from $403.7 million in Q2 2023; Adjusted EBITDA rose 19.7% to $72.3 million.
GAAP net loss attributable to RadNet was $3.0 million in Q2 2024, versus net income of $8.4 million in Q2 2023; Adjusted Diluted EPS was $0.16 versus $0.10.
Imaging Center revised 2024 Total Net Revenue guidance to $1,685-$1,735 million and Adjusted EBITDA guidance to $257-$267 million, both raised from the post-Q1 ranges.
Cash balance was $741.7 million at June 30, 2024, after an April 2024 refinancing that funded about $168 million of additional cash.
DXP Enterprises reported second quarter 2024 results on August 8, 2024. Sales rose 4.1% year over year to $445.6 million, but diluted EPS fell to $1.00 from $1.06 and net income declined to $16.7 million from $19.1 million. Adjusted EBITDA rose to $48.2 million from $45.3 million, and the company said it expects to close at least two more acquisitions in the second half of 2024.
Sales of $445.6 million, up 4.1% from $428.0 million a year earlier and up 8.0% from $412.6 million in the first quarter of 2024
Diluted EPS of $1.00 versus $1.06 a year earlier; adjusted diluted EPS of $1.02 versus $1.06
Adjusted EBITDA of $48.2 million, up from $45.3 million, with a 10.8% margin versus 10.6%
Free cash flow of $30.0 million for the six months ended June 30, 2024; four acquisitions completed through the second quarter
Victory Capital reported second-quarter 2024 revenue of $219.6 million, up 7.5% from a year earlier, and GAAP net income of $74.3 million, up 31.0%. The company also raised its quarterly dividend 11% to $0.41 per share, but total AUM fell to $168.7 billion on net outflows of $1.7 billion during the quarter.
Q2 2024 GAAP diluted EPS was $1.12, compared with $0.83 in Q2 2023; adjusted net income with tax benefit per diluted share was $1.31, compared with $1.11.
Revenue was $219.6 million, up 7.5% from $204.2 million, driven by higher average AUM.
Total AUM was $168.7 billion at June 30, 2024, down from $170.3 billion at March 31, 2024, on net outflows of $1.7 billion.
Quarterly dividend increased to $0.41 per share from $0.37, payable September 25, 2024 to holders of record on September 10, 2024.
DXC Technology reported first-quarter fiscal 2025 results for the quarter ended June 30, 2024, with total revenue down 6% year-over-year to $3.24 billion and GAAP diluted EPS down 18% to $0.14. The company raised parts of its full-year fiscal 2025 outlook, including non-GAAP diluted EPS and free cash flow, which may matter to shareholders even as reported revenue and GAAP earnings declined.
Net income was $25 million, down 40% year-over-year; non-GAAP diluted EPS was $0.74, up 17%.
Operating cash flow was $238 million, up 87%; free cash flow was $45 million.
Full-year non-GAAP diluted EPS outlook is now $2.75 to $3.00, up from $2.50 to $3.00 at the low end.
Full-year free cash flow outlook was raised to approximately $450 million from approximately $400 million.
Take-Two reported fiscal first-quarter 2025 results for the period ended June 30, 2024. Net Bookings rose 1% to $1.22 billion and GAAP net revenue rose 4% to $1.34 billion, but the GAAP net loss widened to $262.0 million, or $1.52 per share, from $206.0 million, or $1.22 per share, a year earlier. The company reiterated its fiscal 2025 Net Bookings outlook of $5.55 to $5.65 billion and revised its GAAP outlook, which now projects a net loss of $(757) to $(690) million.
Net Bookings were $1.22 billion, up 1% from $1.20 billion a year earlier; the company said this was in line with guidance
GAAP net revenue rose 4% to $1.34 billion from $1.28 billion
GAAP net loss was $262.0 million, or $1.52 per share, versus $206.0 million, or $1.22 per share; business reorganization costs were $49.5 million
Fiscal 2025 Net Bookings outlook reiterated at $5.55 to $5.65 billion; GAAP net loss outlook is $(757) to $(690) million
Douglas Emmett reported second quarter 2024 results on August 8, 2024. Revenue fell 3.0% to $245.8 million and FFO fell 4.5% to $92.1 million, or $0.46 per fully diluted share, while net income attributable to common stockholders rose to $10.9 million, or $0.06 per diluted share, mainly because the prior-year period included accelerated depreciation tied to removing Barrington Plaza from the rental market. The company narrowed its 2024 guidance to $0.05 to $0.09 per diluted share for net income and $1.65 to $1.69 per fully diluted share for FFO.
Total revenues were $245.8 million, down from $253.4 million in the second quarter of 2023, as vacancy at Barrington Plaza and lower office occupancy offset higher parking and residential revenue.
Net income attributable to common stockholders was $10.9 million, compared with a loss of $7.3 million a year earlier.
FFO was $92.1 million, or $0.46 per fully diluted share, down from $96.4 million, or $0.48, a year earlier, due to higher interest expense and lower revenues.
2024 guidance was narrowed to $0.05 to $0.09 per diluted share for net income and $1.65 to $1.69 per fully diluted share for FFO; the filing does not state the prior range.
PDF Solutions reported second-quarter 2024 results on August 8, 2024. Revenue of $41.7 million was flat year over year, while GAAP net income fell to $1.7 million, or $0.04 per diluted share, from $6.8 million, or $0.17, a year earlier. The company reiterated its expectation for 20% revenue growth in the second half of 2024 and said the results are preliminary until it files its Form 10-Q.
Total revenue of $41.7 million compared with $41.6 million in Q2 2023; analytics revenue rose 3% to $38.1 million.
GAAP net income of $1.7 million, or $0.04 per diluted share, versus $6.8 million, or $0.17, in Q2 2023.
Non-GAAP diluted EPS of $0.18, compared with $0.19 in Q2 2023.
CEO John Kibarian reiterated the expectation that second-half 2024 revenue will grow 20% over the prior-year period.
Life360 reported unaudited Q2 2024 revenue of $84.9 million, up 20% year over year, and a net loss of $(11.0) million, compared with $(4.4) million a year earlier. The loss includes $5.8 million in IPO-related transaction costs. The company raised its full-year 2024 revenue and Adjusted EBITDA guidance, which matters to shareholders because it signals higher expected revenue and profit, though GAAP results were weaker than the prior year.
Q2 2024 total revenue was $84.9 million, up 20% year over year; net loss was $(11.0) million versus $(4.4) million in Q2 2023, including $5.8 million in IPO-related transaction costs.
Adjusted EBITDA was $11.0 million in Q2 2024, compared with $5.7 million in Q2 2023.
2024 consolidated revenue guidance was raised to $370 million-$378 million from $365 million-$370 million; Adjusted EBITDA guidance was raised to $36 million-$41 million from $30 million-$35 million.
Global monthly active users reached approximately 70.6 million, up 31% year over year, and Paying Circles reached 2.0 million.
Arcus Biosciences reported second-quarter 2024 revenue of $39 million, up from $29 million a year earlier, while its net loss widened to $93 million from $75 million as research and development expenses rose to $115 million from $84 million. Cash, cash equivalents and marketable securities totaled $1.0 billion at June 30, 2024, and the company said that balance will fund operations into 2027.
Q2 2024 revenue was $39 million versus $29 million in Q2 2023; six-month revenue was $184 million versus $54 million.
Q2 net loss was $93 million versus $75 million; net loss per share was $1.02 versus $1.04.
R&D expenses were $115 million versus $84 million, driven by higher clinical trial and headcount-related costs for late-stage programs.
Cash and marketable securities were $1.0 billion at June 30, 2024, including $320 million received from Gilead for its January 2024 equity investment.
e.l.f. Beauty reported results for the three months ended June 30, 2024, with net sales up 50% to $324.5 million, but GAAP net income fell to $47.6 million from $53.0 million and GAAP diluted earnings per share fell to $0.81 from $0.93. The company raised its fiscal 2025 net sales and adjusted EPS outlook, which may matter to shareholders because the higher sales forecast is offset by lower GAAP profit in the quarter.
Net sales rose 50% to $324.5 million; adjusted diluted EPS was $1.10, unchanged from the prior-year quarter.
GAAP diluted EPS was $0.81 versus $0.93; SG&A rose to $180.6 million, or 56% of net sales.
Cash and cash equivalents were $109.0 million at June 30, 2024; long-term debt and finance lease obligations were $159.2 million.
Century Aluminum reported second quarter 2024 net sales of $560.8 million, up $71.3 million from the first quarter, and adjusted EBITDA attributable to Century stockholders of $34.2 million, up $9.2 million. The company posted a net loss of $2.5 million, compared with net income of $246.8 million in the first quarter, which included a $245.9 million bargain purchase gain from the Jamalco acquisition. The company expects third quarter adjusted EBITDA of $65 million to $75 million.
Q2 2024 net sales $560.8 million vs. $489.5 million in Q1 2024
Net loss attributable to Century stockholders of $2.5 million, or $0.03 per diluted share, vs. net income of $246.8 million in Q1, which included a $245.9 million bargain purchase gain
Adjusted EBITDA attributable to Century stockholders $34.2 million vs. $25.0 million in Q1 2024
Third quarter 2024 adjusted EBITDA outlook of $65 million to $75 million
StepStone Group reported results for the quarter ended June 30, 2024, its first quarter of fiscal 2025. Total revenues rose 5% to $186.4 million, but net income fell 3% to $48.0 million and GAAP diluted earnings per share fell 41% to $0.20, with performance fees down 79%. The company also declared a quarterly dividend of $0.24 per share, payable September 13, 2024.
Total revenues were $186.4 million, up 5% from $178.0 million a year earlier; management and advisory fees, net rose 29% to $178.0 million.
GAAP net income attributable to StepStone was $13.3 million, versus $21.3 million a year earlier; diluted EPS was $0.20 versus $0.34.
Non-GAAP adjusted net income rose 95% to $57.2 million, and fee-related earnings rose 61% to $71.7 million, with a 40% FRE margin.
Assets under management were $169.3 billion, up 19%; the quarterly dividend is payable September 13, 2024 to holders of record on August 30, 2024.
CarGurus reported second quarter 2024 results with total revenue of $218.7 million, down 9% from a year earlier, and a GAAP net loss of $68.7 million, compared with net income of $13.8 million in the same period of 2023. Marketplace revenue rose 14% to $195.2 million, while the net loss reflects a $127.7 million goodwill and long-lived asset impairment. The company also gave third quarter 2024 guidance for total revenue of $212 million to $232 million.
Q2 2024 total revenue was $218.7 million, down 9% year over year; Marketplace revenue rose 14% to $195.2 million.
GAAP net loss was $68.7 million, or $0.66 per diluted share, versus net income of $13.8 million in Q2 2023; the loss includes $127.7 million in impairment charges.
Non-GAAP Consolidated Adjusted EBITDA was $55.6 million, up 23% year over year, with a 25% margin.
Third quarter 2024 guidance: total revenue of $212 million to $232 million, Non-GAAP EPS of $0.38 to $0.44.
Arlo Technologies reported second-quarter 2024 revenue of $127.4 million, up 10.8% year over year, with service revenue of $60.3 million up 19.7%. GAAP net loss was $11.6 million, or $(0.12) per share, versus $(0.08) a year earlier, while non-GAAP net income per share rose to $0.10 from $0.06. The company guided third-quarter revenue to $132 million to $142 million and GAAP net loss per share to $(0.07) to $(0.01).
Q2 2024 revenue $127.4 million, up 10.8% year over year; service revenue $60.3 million, up 19.7%
GAAP net loss per share $(0.12) in Q2 2024 versus $(0.08) in Q2 2023; non-GAAP net income per share $0.10 versus $0.06
Q3 2024 outlook: revenue $132 million to $142 million; GAAP net loss per share $(0.07) to $(0.01); non-GAAP $0.08 to $0.14
Ended Q2 with $144.0 million in cash and short-term investments and annual recurring revenue of $235.0 million, up 21.4%
Expedia Group reported second quarter 2024 revenue of $3.6 billion, up 6% from a year earlier, and diluted EPS of $2.80 versus $2.54. CEO Ariane Gorin said July brought a more challenging macro environment and softer travel demand, and the company is adjusting its expectations for the rest of the year.
Q2 2024 gross bookings were $28.8 billion, up 6%, and revenue was $3.6 billion, up 6%.
Diluted EPS was $2.80 versus $2.54; adjusted EPS was $3.51 versus $2.89, up 21%.
Net income attributable to Expedia Group was $386 million, roughly flat with $385 million a year earlier.
Management said it has seen a softening in travel demand in July and is adjusting expectations for the rest of 2024.
Tennant Company reported second-quarter 2024 net sales of $331.0 million, up 2.9% from a year earlier, while net income fell 10.9% to $27.9 million and diluted EPS fell to $1.45 from $1.68. The company raised its full-year 2024 guidance, with net sales now expected at $1,280 million to $1,305 million and Adjusted EBITDA at $205 million to $215 million.
Q2 2024 net sales were $331.0 million, up 2.9%, or 2.7% organic; Asia Pacific sales fell 13.5%.
Net income was $27.9 million versus $31.3 million, and diluted EPS was $1.45 versus $1.68; the company cited ERP modernization and transaction and integration costs.
Adjusted diluted EPS was $1.83 versus $1.86 a year earlier, and Adjusted EBITDA was $58.6 million, up 1.7%.
Updated 2024 guidance: net sales $1,280 million to $1,305 million (previously $1,270 million to $1,295 million); Adjusted EBITDA $205 million to $215 million (previously $198 million to $213 million).
XPEL reported second-quarter 2024 results on August 8, 2024, with revenue up 7.5% to $109.9 million, which the company called a record. Net income fell 4.5% to $15.0 million, or $0.54 per share, from $15.7 million, or $0.57 per share, a year earlier, and the company kept its 2024 annual revenue growth projection at 8-10%. Revenue growth was offset by higher operating expenses, and the results are preliminary and unaudited until the Form 10-Q, expected on or before August 9, 2024.
Q2 2024 revenue of $109.9 million, up 7.5% from $102.2 million in Q2 2023
Net income of $15.0 million, or $0.54 per diluted share, versus $15.7 million, or $0.57, a year earlier
EBITDA of $21.8 million, or 19.9% of revenue, versus $22.4 million, or 21.9%, in Q2 2023
China revenue fell 45.7% to $4.4 million; 2024 annual revenue growth projection remains 8-10%
Liquidity Services reported fiscal third-quarter 2024 results for the quarter ended June 30, 2024, with GMV of $380.4 million (up 14%) and revenue of $93.6 million (up 16%). GAAP net income fell to $6.0 million, or $0.19 per diluted share, from $6.5 million, or $0.21, a year earlier, as sales, marketing, technology and operations spending rose and $1.1 million of acquisition-related and litigation settlement costs were incurred. The company also issued fourth-quarter fiscal 2024 guidance for GMV of $330 million to $365 million and GAAP net income of $5.0 million to $7.0 million.
Q3 FY24 GMV was $380.4 million, up 14%, and revenue was $93.6 million, up 16%, versus the prior-year quarter.
GAAP net income was $6.0 million ($0.19 per diluted share), down from $6.5 million ($0.21) a year earlier; non-GAAP adjusted EBITDA rose to $14.7 million from $13.3 million.
Q4 FY24 guidance: GMV of $330 million to $365 million, GAAP net income of $5.0 million to $7.0 million, and GAAP diluted EPS of $0.16 to $0.22.
As of June 30, 2024, the company reported cash balances of $136.8 million and no financial debt, with $7.6 million remaining under its share repurchase authorization.
Advanced Drainage Systems reported fiscal first-quarter 2025 results for the period ended June 30, 2024, with net sales up 4.8% to $815.3 million but net income down 6.7% to $162.3 million. The company confirmed its fiscal 2025 targets and declared a quarterly dividend of $0.16 per share, a 14% increase over the prior year amount. Higher sales alongside lower profit leave the quarter's direction mixed for shareholders.
Net sales rose 4.8% to $815.3 million; net income fell 6.7% to $162.3 million
Diluted EPS was $2.06 versus $2.18 a year earlier, down 5.5%; adjusted EPS was flat at $2.06
Adjusted EBITDA was $275.5 million, with a margin of 33.8% versus 36.2% a year earlier
Fiscal 2025 targets confirmed: net sales $2.925 billion to $3.025 billion; Adjusted EBITDA $940 million to $980 million; quarterly dividend $0.16 per share payable September 13, 2024
Sally Beauty Holdings reported third-quarter fiscal 2024 net sales of $942.3 million, up 1.2%, with comparable sales up 1.5%. GAAP diluted earnings per share fell 21.7% to $0.36 from $0.46 a year earlier, as operating earnings declined to $71.8 million from $90.1 million. The company maintained its full-year fiscal 2024 guidance.
Q3 net sales were $942.3 million, up 1.2%; comparable sales rose 1.5%.
GAAP diluted EPS was $0.36 versus $0.46 a year earlier; adjusted diluted EPS was $0.45 versus $0.49.
GAAP operating earnings were $71.8 million, with a 7.6% operating margin, versus $90.1 million and 9.7% a year earlier.
Full-year fiscal 2024 guidance was maintained, including net sales and comparable sales approximately flat and operating cash flow of approximately $240 million.
Privia Health reported second-quarter 2024 results on August 8, 2024, with total revenue of $422.3 million, up 2.2% from a year earlier, while net income attributable to the company fell to $3.5 million from $7.3 million and diluted EPS fell to $0.03 from $0.06. The company also raised its full-year 2024 guidance to the mid-to-high end of its ranges for all metrics, including GAAP revenue of $1,600 million to $1,675 million, so shareholders get higher revenue expectations alongside lower GAAP earnings this quarter.
Q2 2024 total revenue $422.3 million, up 2.2% from $413.4 million; operating income $5.1 million, down 27.0%
Net income attributable to Privia Health $3.5 million, or $0.03 per share, versus $7.3 million, or $0.06, a year earlier
Adjusted EBITDA $22.0 million, up 14.0%; cash and cash equivalents $387.4 million and no debt as of the quarter
FY 2024 guidance raised to mid-to-high end; GAAP revenue guidance $1,600 million to $1,675 million, Adjusted EBITDA $85 million to $90 million
Haemonetics reported first quarter fiscal 2025 results for the period ended June 29, 2024, with revenue up 8.0% to $336.2 million, while GAAP earnings per diluted share fell to $0.74 from $0.80 and adjusted earnings per diluted share fell 2.9% to $1.02. The company reaffirmed its fiscal 2025 revenue, adjusted operating margin, adjusted earnings per share and free cash flow guidance, so shareholders see stronger sales but lower profit in the quarter with no change to the full-year outlook.
Revenue was $336.2 million, up 8.0% from the prior year; organic revenue grew 2.8%, with Hospital up 30.7% and Plasma down 2.7%.
GAAP operating income was $39.8 million, an 11.8% margin, versus $53.7 million and a 17.2% margin a year earlier.
Operating cash outflow was $27.4 million and free cash outflow was $16.9 million, compared with operating cash inflow of $19.1 million a year earlier.
Fiscal 2025 adjusted earnings per diluted share guidance of $4.45 to $4.75 was reaffirmed.
Ziff Davis reported unaudited second-quarter 2024 revenue of $320.8 million, down 1.6% from a year earlier, and adjusted diluted EPS of $1.18, down 7.1%. GAAP net income rose to $36.9 million, but income from operations fell 26.5%, and the company reaffirmed its fiscal 2024 guidance. The board also raised the share repurchase authorization by 5 million shares to 15 million, which may support per-share results if used.
Q2 2024 revenue $320.8 million, down 1.6% from $326.0 million; income from operations $28.6 million, down 26.5%
Adjusted diluted EPS $1.18, down 7.1% from $1.27; GAAP net income $36.9 million vs. $16.7 million
2024 guidance reaffirmed: revenue $1,411.0 million to $1,471.0 million; adjusted EBITDA $500.0 million to $521.0 million
Board authorized up to 5 million more shares for repurchase on August 2, 2024, for a total of up to 15 million; 8,241,308 shares remained and the program now expires August 2, 2029
Chord Energy reported second quarter 2024 results that include Enerplus from May 31, 2024, when the combination closed. Total revenue rose to $1.26 billion from $912.1 million a year earlier, but net income was $213.4 million, versus $216.1 million, and diluted EPS was $4.25, versus $4.96. The company also declared a $2.52 per share base-plus-variable dividend and updated its FY24 outlook.
Total revenues were $1,260.7 million in 2Q24, versus $912.1 million in 2Q23; net income was $213.4 million, versus $216.1 million, and diluted EPS was $4.25, versus $4.96.
Adjusted EBITDA was $567.9 million and Adjusted diluted EPS was $4.69, versus $3.65 in 2Q23.
Declared a $2.52 per share dividend ($1.25 base, $1.27 variable), payable September 5, 2024 to holders of record as of August 21, 2024.
FY24 pro forma outlook is about $2.9 billion of Adjusted EBITDA and $1.2 billion of Adjusted Free Cash Flow; the company said it remains on target with its 2024 plan.
Primerica reported second-quarter 2024 GAAP net income of $1.2 million, or $0.03 per diluted share, down from $144.5 million a year earlier. The drop reflects $253.6 million in goodwill and other long-lived asset impairments tied to the company's exit from the Senior Health business, and the company says it excluded these items from its adjusted results, where adjusted operating earnings per diluted share rose 18% to $4.71.
GAAP diluted EPS was $0.03 versus $3.97 a year earlier; net income was $1.2 million versus $144.5 million.
Total revenues rose 17% to $803.4 million, including $50 million in insurance claim proceeds; adjusted operating revenues rose 9% to $753.3 million.
Adjusted operating EPS was $4.71, up from $3.99; adjusted net operating income rose 12% to $162.7 million.
The Board approved a 20% dividend increase to $0.90 per share, payable September 12, 2024; the company repurchased $142.7 million of common stock in the quarter.
Crane NXT reported second quarter 2024 sales of $370.6 million, up 5.2% from a year earlier, driven mainly by the acquired OpSec Security business. GAAP earnings per diluted share fell to $0.72 from $0.75, and Adjusted EPS fell to $1.06 from $1.12, while the company narrowed its full year Adjusted EPS guidance to $4.20 to $4.35 from $4.10 to $4.35.
Q2 2024 net sales of $370.6 million, up $18.2 million or 5.2%; OpSec added $20.5 million (5.8%) and core sales grew 0.8%
GAAP operating profit margin was 18.2%, down from 19.5%; Adjusted operating profit margin was 24.1%, down from 26.5%
Full year Adjusted EPS guidance narrowed to $4.20 to $4.35 from $4.10 to $4.35
Quarterly dividend of $0.16 per share declared, payable September 11, 2024 to holders of record as of August 30, 2024
ICU Medical reported second quarter 2024 revenue of $596.5 million, up from $549.3 million a year earlier, but its GAAP net loss widened to $21.4 million, or $0.88 per share, from $9.9 million, or $0.41 per share. The company also narrowed its full-year 2024 guidance, raising the low end of its adjusted diluted EPS range to $4.95 from $4.40, which shareholders will weigh against lower second quarter adjusted EPS of $1.56 versus $1.88.
Second quarter revenue was $596.5 million versus $549.3 million; GAAP gross margin was 35% in both periods.
Adjusted diluted EPS was $1.56 versus $1.88, and adjusted EBITDA was $91.3 million versus $98.1 million.
FY2024 adjusted EBITDA guidance narrowed to $345 million to $365 million from $330 million to $370 million.
FY2024 adjusted diluted EPS guidance updated to $4.95 to $5.35 from $4.40 to $5.10; GAAP net loss guidance narrowed to $(118) million to $(108) million.
Dolby reported fiscal third-quarter 2024 revenue of $288.8 million, down from $298.4 million a year earlier, while GAAP net income rose to $38.4 million, or $0.40 per diluted share, from $16.4 million, or $0.17. The company also declared a $0.30 per share dividend and raised its stock repurchase authorization by $350 million to about $422 million, and gave full-year fiscal 2024 revenue guidance of $1.27 billion to $1.29 billion.
Total revenue was $288.8 million, versus $298.4 million in the third quarter of fiscal 2023.
GAAP net income was $38.4 million, or $0.40 per diluted share; non-GAAP net income was $68.8 million, or $0.71 per diluted share.
Full-year fiscal 2024 revenue is expected to range from $1.27 billion to $1.29 billion, with GAAP diluted EPS of $2.40 to $2.55.
Dividend of $0.30 per share is payable August 27, 2024, to holders of record on August 19, 2024.
Assured Guaranty reported second quarter 2024 results. GAAP net income attributable to the company was $78 million, or $1.41 per diluted share, down from $125 million, or $2.06, a year earlier. Adjusted operating income rose to $80 million, or $1.44 per share, from $36 million, or $0.60, and the company returned $169 million to shareholders in the quarter.
GAAP net income attributable to Assured Guaranty Ltd. was $78 million, or $1.41 per diluted share, in Q2 2024, versus $125 million, or $2.06, in Q2 2023.
Adjusted operating income was $80 million, or $1.44 per share, in Q2 2024, versus $36 million, or $0.60, in Q2 2023.
Capital returned to shareholders in Q2 2024 totaled $169 million, including $152 million of share repurchases and $17 million of dividends.
A $300 million stock redemption by Assured Guaranty Inc. was completed on August 5, 2024, after the AGM merger into AG on August 1.
Digi International reported fiscal third-quarter 2024 results for the period ended June 30, 2024, with revenue down 6% to $105 million while net income rose to $10 million from $7 million. Management said it expects fiscal 2024 revenue to fall about 5% and Adjusted EBITDA to rise about 1%, in line with prior guidance, and that Annualized Recurring Revenue (ARR) growth for the year now exceeds 5%.
Q3 revenue was $105 million, down 6%; diluted EPS was $0.26 versus $0.18 a year earlier
Adjusted net income per diluted share was $0.50, flat year over year
ARR reached $113 million at quarter end, up 9%; Q4 revenue is estimated at $102 million to $106 million
Net debt was $152 million at quarter end after revolver payments; interest expense fell to $3.2 million from $6.6 million
Safety Insurance Group reported second quarter 2024 net income of $16.6 million, or $1.13 per diluted share, down slightly from $17.0 million, or $1.15 per share, a year earlier. Net earned premiums rose 22.1% to $246.9 million, while the combined ratio improved to 99.9% from 101.9%, helped by a $9.7 million favorable effect from the Massachusetts FAIR Plan restructuring. The board also declared a $0.90 quarterly dividend.
Q2 2024 net income was $16.6 million, or $1.13 per diluted share, versus $17.0 million, or $1.15, in Q2 2023
Non-GAAP operating income per diluted share was $1.18, compared with $0.80 a year earlier
Losses and loss adjustment expenses rose 20.4% to $172.7 million; the combined ratio was 99.9% versus 101.9%
Quarterly dividend of $0.90 per share is payable September 13, 2024, to holders of record on September 3, 2024
Kulicke & Soffa reported fiscal third-quarter 2024 net revenue of $181.7 million, down 4.9% from a year earlier, and GAAP net income of $12.3 million, or $0.22 per diluted share, compared with $4.2 million a year earlier. For the nine months, the company posted a GAAP net loss of $81.1 million, which includes $44.5 million in impairment charges, and it guided fourth-quarter net revenue to about $180 million, plus or minus $10 million.
Q3 net revenue $181.7 million, down 4.9% from $190.9 million in fiscal Q3 2023 and up 5.6% from fiscal Q2 2024
GAAP net income $12.3 million, or $0.22 per diluted share, versus $4.2 million, or $0.07, a year earlier; non-GAAP net income $19.3 million, or $0.35 per share, down 39.4%
Nine-month GAAP net loss of $81.1 million, including $44.5 million in impairment charges
Q4 fiscal 2024 outlook: net revenue about $180 million plus or minus $10 million; GAAP diluted EPS about $0.22 plus or minus 10%; the company repurchased 0.9 million shares for $44.0 million in the quarter
Payoneer reported second-quarter 2024 revenue of $239.5 million, up 16% year-over-year, and raised its 2024 guidance. Net income fell 29% to $32.4 million, which shareholders should weigh against the revenue and adjusted EBITDA gains. The company also acquired Skuad on August 5 for $61 million in cash, plus up to $20 million in contingent payments.
Q2 2024 revenue was $239.5 million, up 16% from $206.7 million a year earlier
Net income was $32.4 million, down 29% from $45.5 million; adjusted EBITDA was $72.8 million, up 30%
2024 revenue guidance is $920 million to $930 million; adjusted EBITDA guidance is $225 million to $235 million
Skuad was acquired on August 5 for $61 million cash, subject to adjustments, plus up to $20 million in contingent payments
Diebold Nixdorf reported second-quarter 2024 revenue of $939.7 million, up 1.9% from a year earlier, and GAAP operating profit of $70.7 million, compared with a loss of $3.9 million in the prior-year quarter. The company raised its full-year adjusted EBITDA guidance to $435 million-$450 million from $410 million-$435 million, but cut its full-year revenue outlook to flat from low single-digit growth, so shareholders get a mixed picture.
Q2 2024 GAAP net income was $14.8 million, versus a net loss of $677.3 million a year earlier, which included reorganization items.
Q2 2024 adjusted EBITDA was $118.8 million, up 40.9% from $84.3 million in the prior-year quarter.
Full-year 2024 revenue outlook was changed to flat, from low single-digit growth, citing retail product market headwinds and a modest unfavorable currency impact.
Free cash flow conversion outlook was unchanged at +25%.
DNOW Inc. reported second-quarter 2024 results for the quarter ended June 30, 2024. Revenue rose from $594 million a year earlier, but GAAP net income attributable to DNOW fell from $34 million to $24 million, and diluted EPS fell from $0.31 to $0.21, while non-GAAP diluted EPS held at $0.25.
Q2 2024 revenue was $633 million, compared with $594 million in Q2 2023.
GAAP diluted EPS was $0.21, compared with $0.31 in Q2 2023; non-GAAP diluted EPS excluding other costs was $0.25, unchanged from the prior year.
EBITDA excluding other costs was $50 million, or 7.9% of revenue, compared with $47 million in Q2 2023.
Cash and cash equivalents were $197 million with zero long-term debt at June 30, 2024; the company repurchased $10 million of stock in the quarter and expects to complete its $80 million buyback program this year.
Wolverine World Wide reported second-quarter 2024 revenue of $425.2 million, down 27.8% from $589.1 million a year earlier, and diluted earnings per share of $0.17 versus $0.30. The company raised parts of its full-year 2024 outlook, including diluted EPS of $0.53 to $0.63 (previously $0.43 to $0.63) and ongoing revenue of $1.71 billion to $1.73 billion, while the year-over-year declines reflect divestitures and lower sales.
Q2 2024 diluted EPS was $0.17 versus $0.30 a year earlier, down 43.3%; adjusted diluted EPS was $0.15 versus $0.19.
Ongoing revenue for the quarter was $424.8 million, down 18.4% from $520.8 million; the company cited divestitures of Keds, Wolverine Leathers and Sperry.
Full-year 2024 diluted EPS guidance is $0.53 to $0.63, and ongoing revenue guidance is $1.71 billion to $1.73 billion.
Inventory at quarter end was $297.1 million, down 54.1% from the prior year, and net debt was $666 million.
Bio-Techne reported fourth-quarter fiscal 2024 net sales up 2% to $306.1 million, with organic revenue up 1%, while GAAP earnings per share fell to $0.25 from $0.47 a year earlier. Full-year net sales rose 2% to $1.2 billion, but full-year GAAP EPS fell to $1.05 from $1.76, and the company also announced a cash dividend in a separate press release.
Q4 GAAP operating income fell 52% to $45.8 million; adjusted operating income fell 9% to $101.8 million
Q4 adjusted EPS was $0.49 versus $0.55 a year earlier; full-year adjusted EPS was $1.77 versus $1.99
Diagnostics and Genomics segment Q4 net sales rose 15% to $90.7 million, while Protein Sciences Q4 net sales fell 4% to $214.0 million
Full-year cash flow from operations rose 18% to $299.0 million; the filing does not state the dividend amount
Innospec reported second-quarter 2024 net sales of $435.0 million, down 9% from $480.4 million a year earlier, while net income rose to $31.2 million, or $1.24 per diluted share, from $28.9 million, or $1.16. Management said Oilfield Services sales were hit by lower production chemical activity and expects lower sales there to continue through the second half of 2024, while Performance Chemicals and Fuel Specialties improved.
Net sales were $435.0 million versus $480.4 million; net income was $31.2 million, or $1.24 per diluted share, versus $28.9 million, or $1.16.
Oilfield Services operating income fell to $7.3 million from $28.0 million, while Performance Chemicals operating income rose to $21.2 million from $9.2 million.
Adjusted non-GAAP EPS was $1.39 per diluted share, compared with $1.28 a year earlier.
As of June 30, 2024, the company had $240.2 million in cash and cash equivalents and no debt.
Marcus & Millichap reported second-quarter 2024 results, with total revenue down 2.8% to $158.4 million while its net loss narrowed to $5.5 million from $8.7 million a year earlier. The company said these results are preliminary until it files its Form 10-Q, and it declared a semi-annual dividend of $0.25 per share, or about $10.2 million.
Q2 2024 total revenue was $158.4 million, down from $162.9 million, a decrease of 2.8%.
Net loss was $5.5 million, or $0.14 per diluted share, versus $8.7 million, or $0.23 per diluted share, a year earlier.
Real estate brokerage commissions fell 3.5% to $135.4 million, as total sales volume decreased 4.9%.
The Board declared a $0.25 per share dividend on August 1, 2024, payable October 4, 2024, with about $71.0 million left under the repurchase program.
Ormat Technologies reported second-quarter 2024 total revenues of $213.0 million, up 9.3% from a year earlier, and operating income up 45%. GAAP net income attributable to stockholders fell 8.1% to $22.2 million, and diluted EPS dropped to $0.37 from $0.40, while adjusted EBITDA rose 25% to $126.1 million and the company raised its full-year EBITDA guidance range.
Total revenues $213.0 million vs. $194.8 million in Q2 2023; Electricity, Product and Energy Storage segments all grew.
Net income attributable to stockholders $22.2 million vs. $24.2 million; diluted EPS $0.37 vs. $0.40, including about $2.0 million in after-tax write-offs.
Adjusted EBITDA $126.1 million, up 25.0%; adjusted diluted EPS $0.40, flat year over year.
2024 guidance: total revenues $875 million to $910 million; adjusted EBITDA $520 million to $550 million. Quarterly dividend of $0.12 per share declared, payable September 3, 2024.
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