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).
Abercrombie & Fitch reported second-quarter fiscal 2024 results for the period ended August 3, 2024, with net sales of $1.1 billion, up 21% from a year earlier, and diluted earnings per share of $2.50 versus $1.10. The company raised its full-year outlook, now expecting net sales growth of 12% to 13% and an operating margin of 14% to 15%, compared with prior guidance of around 10% sales growth and a margin of around 14%.
Q2 operating income was $176 million, up from $90 million a year earlier, and operating margin was 15.5% versus 9.6%.
Comparable sales rose 18%, with Americas net sales up 23% and Abercrombie brands up 26%.
Fiscal 2024 outlook: net sales growth of 12% to 13% and operating margin of 14% to 15%, up from around 10% and around 14%.
Redeemed all $214 million of 8.75% senior secured notes in Q2; liquidity was approximately $1.2 billion as of August 3, 2024.
American Eagle reported second-quarter fiscal 2024 revenue of $1.3 billion, up 8%, and operating income of $101 million, up 55%, with diluted earnings per share of $0.39 versus $0.25 a year earlier. The company now expects full-year operating income of $455 million to $465 million, the high end of its prior range, which matters to shareholders because it signals profit guidance at the top of the previous expectations.
Total net revenue of $1.3 billion rose 8%, including an approximately $55 million positive impact from the retail calendar shift.
Operating income of $101 million rose 55%, with operating margin up 240 basis points to 7.8%; the calendar shift contributed about $20 million.
Third-quarter operating income is expected to be $120 million to $125 million, with comparable sales up 3% to 4%.
Full-year operating income outlook was updated to $455 million to $465 million, the high end of prior guidance.
Ollie's Bargain Outlet reported second-quarter fiscal 2024 net sales up 12.4% to $578.4 million and diluted earnings per share up to $0.79 from $0.68, with comparable store sales up 5.8%. The company raised its fiscal 2024 net sales and earnings outlook, which matters to shareholders because it signals higher expected sales and profit for the year, though gross margin declined 30 basis points.
Net sales rose 12.4% to $578.4 million; comparable store sales rose 5.8% versus a 7.9% prior-year increase.
Diluted EPS was $0.79 versus $0.68 a year earlier; adjusted diluted EPS was $0.78 versus $0.67.
Fiscal 2024 net sales outlook raised to $2.276 to $2.291 billion from $2.257 to $2.277 billion.
Fiscal 2024 adjusted EPS outlook raised to $3.22 to $3.30 from $3.18 to $3.28; gross margin was 37.9%, down from 38.2%.
CooperCompanies reported fiscal third-quarter 2024 results for the quarter ended July 31, 2024, with revenue up 8% year over year and GAAP diluted EPS up 22%. The company also raised its fiscal 2024 financial guidance, including non-GAAP diluted EPS of $3.64 to $3.67, which gives shareholders a higher outlook for the year.
Quarterly revenue of $1,002.8 million, up 8% year over year; CooperVision rose 7% to $675.6 million and CooperSurgical rose 9% to $327.2 million.
GAAP diluted EPS of $0.52, up $0.09 or 22%; non-GAAP diluted EPS of $0.96, up 14%.
Fiscal 2024 guidance raised: total revenue of $3,892 to $3,913 million and non-GAAP diluted EPS of $3.64 to $3.67.
GAAP operating margin of 19% versus 16% a year earlier; free cash flow of $118.5 million.
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.
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.
Fabrinet reported fourth-quarter fiscal 2024 revenue of $753.3 million and GAAP diluted earnings per share of $2.22, both up from a year earlier and described by the company as above its guidance ranges. The board also raised its share repurchase authorization by up to $139.5 million, and the compensation committee set fiscal 2025 pay, including an 8.0% base salary increase for CEO Seamus Grady.
Q4 fiscal 2024 revenue was $753.3 million, up from $655.9 million; GAAP net income was $81.1 million, up from $60.8 million.
Fiscal 2024 revenue was $2.88 billion, up from $2.65 billion; GAAP diluted EPS was $8.10, up from $6.73.
The board authorized up to an additional $139.5 million in share repurchases, bringing the total authorization to $434.3 million with $200.0 million remaining.
First-quarter fiscal 2025 guidance: revenue of $760 million to $780 million and GAAP diluted EPS of $2.10 to $2.17.
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
Brinker International reported fourth-quarter fiscal 2024 results on August 14, 2024, with company sales of $1,196.5 million, up from $1,064.8 million a year earlier, and comparable restaurant sales up 13.5%. The company also issued fiscal 2025 guidance, including non-GAAP diluted net income per share of $4.35 to $4.75, compared with $4.10 for fiscal 2024.
Q4 fiscal 2024 diluted net income per share was $1.24, versus $1.19 a year earlier; excluding special items, it was $1.61, versus $1.39.
Q4 operating income was $73.1 million, versus $59.3 million; Chili's comparable restaurant sales rose 14.8%.
Fiscal 2025 guidance: total revenues of $4.55 billion to $4.62 billion, compared with $4.415 billion in fiscal 2024; capital expenditures of $195 million to $215 million.
The company ended fiscal 2024 with no borrowings on its $900.0 million revolving credit facility and $64.6 million of cash.
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.
Metallus reported second-quarter 2024 net sales of $294.7 million and net income of $4.6 million, or $0.10 per diluted share, down from $356.6 million and $28.9 million a year earlier. The company expects adjusted EBITDA to decline sequentially in the third quarter of 2024 on weaker market demand, which points to continued pressure on shareholder earnings.
Net sales were $294.7 million, down 17 percent from $356.6 million in the second quarter of 2023 and down 8 percent from $321.6 million in the first quarter of 2024.
Adjusted EBITDA was $19.9 million, compared with $50.5 million in the second quarter of 2023 and $43.4 million in the first quarter of 2024.
Third-quarter 2024 adjusted EBITDA is expected to decline sequentially, and third-quarter shipments are expected to be lower than the second quarter.
Planned 2024 capital expenditures were reduced to approximately $55 million, a $5 million reduction from previous guidance.
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.
QuinStreet reported fiscal fourth-quarter revenue of $198.3 million, up 52% year-over-year, and a GAAP net loss of $2.2 million, or $0.04 per share, compared with a loss of $55.9 million a year earlier. The company also gave initial fiscal 2025 guidance of $800 million to $850 million in revenue and $50 million to $60 million in adjusted EBITDA, which shareholders will watch against future results.
Q4 revenue was $198.3 million, up 52% year-over-year; Auto Insurance revenue grew over 200%.
Q4 GAAP net loss was $2.2 million ($0.04 per diluted share); adjusted net income was $6.5 million ($0.11 per diluted share).
Full fiscal 2024 revenue was $613.5 million, up 6%, with a GAAP net loss of $31.3 million ($0.57 per share).
Guidance: September quarter revenue of $220 million to $230 million and adjusted EBITDA of $14 million to $16 million; fiscal 2025 revenue of $800 million to $850 million and adjusted EBITDA of $50 million to $60 million.
ADMA Biologics reported second quarter 2024 total revenue of $107.2 million, up 78% from $60.1 million a year earlier, and GAAP net income of $32.1 million, compared with a net loss of $6.4 million in the second quarter of 2023. The company raised its full-year 2024 revenue guidance to more than $400 million from more than $355 million and its net income guidance to more than $105 million from $85 million. Revenue included a non-recurring $12.6 million increase tied to a change in estimate for U.S. Medicaid rebates.
Q2 2024 revenue of $107.2 million, up $47.1 million (about 78%) year over year, with the increase primarily from higher ASCENIV sales
Q2 2024 GAAP net income of $32.1 million, or $0.13 per diluted share, versus a net loss of $6.4 million in Q2 2023
FY 2024 revenue guidance raised to more than $400 million from more than $355 million; net income guidance raised to more than $105 million from $85 million
Corporate gross margin of 53.6% in Q2 2024, compared with 27.8% in Q2 2023; cash and cash equivalents of $88.2 million at June 30, 2024
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.
DigitalOcean reported second-quarter 2024 revenue of $192 million, up 13% year over year, and GAAP net income of $19 million, compared with $665,000 a year earlier. The company also updated its full-year 2024 revenue guidance to $770 million to $775 million and gave third-quarter revenue guidance of $196 million to $197 million.
Q2 2024 revenue of $192 million, up 13% year over year; diluted EPS of $0.20 versus $0.01 a year earlier
Full-year 2024 total revenue guidance updated to $770 million to $775 million
Third-quarter 2024 total revenue guidance of $196 million to $197 million
Adjusted free cash flow was $37 million, down from $45 million in Q2 2023
Alarm.com reported second-quarter 2024 results on August 8, 2024, with total revenue up 4.4% to $233.8 million and GAAP net income attributable to common stockholders up 112.1% to $33.5 million, or $0.62 per diluted share. The company raised its full-year 2024 guidance for total revenue, non-GAAP adjusted EBITDA and non-GAAP adjusted net income attributable to common stockholders, which points to higher expected results for shareholders.
Total revenue rose 4.4% to $233.8 million; SaaS and license revenue rose 11.0% to $155.9 million.
GAAP net income attributable to common stockholders rose to $33.5 million, or $0.62 per diluted share, from $15.8 million, or $0.30, a year earlier.
Full-year 2024 total revenue guidance is $920.8 million to $931.2 million; non-GAAP adjusted EBITDA guidance is $165.0 million to $167.0 million.
Third-quarter 2024 SaaS and license revenue is expected to be $157.3 million to $157.5 million.
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.
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.
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).
Medical Properties Trust reported a second-quarter 2024 net loss of $321 million, or $0.54 per share, compared with a net loss of $42 million, or $0.07 per share, a year earlier. Normalized FFO fell to $139 million, or $0.23 per share, from $285 million, or $0.48 per share. The company also amended its credit agreement, which cuts the revolver to $1.28 billion and limits cash dividends to $0.08 per share per quarter through September 30, 2025.
Q2 net loss of $321 million ($0.54 per share) versus $42 million ($0.07 per share) a year earlier, including about $400 million in real estate gains and about $700 million in impairments and negative fair value adjustments
Normalized FFO of $139 million ($0.23 per share) versus $285 million ($0.48 per share) in the year-earlier quarter
Credit amendment dated August 6, 2024 cuts revolving commitments from $1.4 billion to $1.28 billion and limits cash dividends to $0.08 per share per quarter through September 30, 2025
Maximum total leverage ratio raised from 60% to 65%; minimum unsecured interest coverage ratio lowered from 1.75:1.00 to 1.45:1.00; borrowing spreads rise to 300 basis points during the covenant period
Curtiss-Wright reported second quarter 2024 sales of $785 million, up 11% from the prior year, and reported diluted EPS of $2.58. The company raised its full-year 2024 adjusted guidance for sales, operating income, diluted EPS and free cash flow, citing strong first-half results and its outlook for the rest of the year.
Q2 2024 adjusted diluted EPS was $2.67, up 24%; reported diluted EPS was $2.58.
Full-year 2024 adjusted diluted EPS guidance was raised to $10.40 to $10.65, from $10.10 to $10.40.
Full-year 2024 adjusted sales growth guidance was raised to 6% to 8%, from 5% to 7%.
Restructuring actions are expected to cost about $15 million in 2024.
Warby Parker reported second-quarter 2024 net revenue of $188.2 million, up 13.3% from the prior year, and a GAAP net loss of $6.8 million, down from $15.9 million a year earlier. The company raised its full-year 2024 net revenue guidance to $757 million to $762 million, which matters to shareholders because it signals faster expected growth while the company still reports a GAAP net loss.
Q2 net revenue of $188.2 million, up 13.3% from $166.1 million in the prior year period
GAAP net loss of $6.8 million, compared with $15.9 million in the prior year period
Full-year 2024 net revenue guidance raised to $757 million to $762 million, growth of about 13% to 14%
Adjusted EBITDA of $19.6 million, with Adjusted EBITDA Margin of 10.4%
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
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.
Envista reported second-quarter 2024 sales of $633.1 million, down from $662.4 million a year earlier, and a net loss of $1,151.6 million, or $6.69 per share, driven by a $1,153.8 million non-cash goodwill and intangible asset impairment. Adjusted EPS fell to $0.11 from $0.43, and the company guided to a 1% to 4% core sales decline for full-year 2024, with a further decline expected in the third quarter.
Q2 sales were $633.1 million, down from $662.4 million; core sales declined 3.2%.
Net loss was $1,151.6 million, or $6.69 per share, including a $1,153.8 million non-cash impairment charge.
Adjusted EPS was $0.11 versus $0.43; adjusted EBITDA was $63.0 million versus $126.2 million.
For 2024, the company expects core sales to decline 1% to 4% and adjusted EBITDA margins of 10% to 12%.
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.
Texas Pacific Land reported second-quarter 2024 net income of $114.6 million, or $4.98 per diluted share, and consolidated revenues of $172.3 million, with the water services and operations segment posting record results. The company also set a target cash balance of about $700 million and said it will direct most free cash flow above that level to share repurchases and dividends, which bears directly on how shareholders receive cash.
Q2 2024 net income was $114.6 million ($4.98 diluted per share), compared with $114.4 million in Q1 2024.
Consolidated revenues were $172.3 million, down from $174.1 million in Q1 2024.
Water segment: water sales of $40.7 million, produced water royalties of $25.3 million, and segment net income of $34.5 million.
Target cash balance of about $700 million; a $10.00 special dividend was declared and paid on July 15, 2024.
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.
Sunstone Hotel Investors reported second quarter 2024 net income of $26.1 million, down from $43.1 million a year earlier, and income per diluted share of $0.11 versus $0.19. The company cut its full-year 2024 net income guidance to $55 million to $65 million from $56 million to $77 million, citing a slower recovery in Maui, which lowers the revenue and earnings outlook for shareholders.
Q2 2024 net income was $26.1 million versus $43.1 million; comparable RevPAR fell 2.0% to $232.59.
Full-year 2024 net income guidance is now $55 million to $65 million, down from $56 million to $77 million; total portfolio RevPAR growth guidance is now -0.25% to +1.75%, down from +2.25% to +5.25%.
Adjusted FFO per diluted share was $0.28 in Q2 2024, down 15.2%; full-year guidance is $0.85 to $0.90 versus $0.84 to $0.94 previously.
Through August 6, 2024, the company repurchased 698,043 shares at an average $9.90; $447.8 million remains under its repurchase authorization.
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
Vishay Intertechnology reported fiscal second-quarter 2024 revenue of $741.2 million, roughly flat from the prior quarter but down from $892.1 million a year earlier, and diluted EPS of $0.17 versus $0.68 a year earlier. Management said the industry recovery is taking longer than expected and guided third-quarter revenue to $745 million plus or minus $20 million, with gross margin of 21.0% plus or minus 50 basis points.
Q2 2024 revenue $741.2 million, versus $746.3 million in Q1 2024 and $892.1 million in Q2 2023; gross margin 22.0%, versus 28.9% a year earlier
Q2 2024 EPS $0.17, versus $0.22 in Q1 2024 and $0.68 in Q2 2023; quarterly free cash was negative $86.8 million
Q3 2024 outlook: revenue $745 million plus or minus $20 million; gross margin 21.0% plus or minus 50 basis points, including a 175 to 200 basis point drag from Newport
Itzehoe, Germany expansion timetable moved beyond 2024; 2024 capex now planned at $360 million to $390 million
Extreme Networks reported fourth-quarter fiscal 2024 revenue of $256.7 million, down 29% from a year earlier, and a GAAP loss of $0.42 per share, compared with GAAP diluted earnings of $0.19 a year earlier. The company recorded a $46.5 million provision for excess and obsolete inventory and loss on supplier commitments in the quarter, and guided fiscal first-quarter 2025 revenue to $255.0 million to $265.0 million.
Fiscal Q4 2024 revenue $256.7 million, down 29% year over year; GAAP gross margin 44.7%, compared with 58.9% a year earlier
Fiscal year 2024 revenue $1,117.2 million, down 15%; GAAP loss of $0.65 per share versus diluted EPS of $0.58 in fiscal 2023
Excess and obsolete inventory and supplier commitment charge of $46.5 million in Q4 and $64.5 million for fiscal 2024; non-GAAP diluted EPS for fiscal 2024 was $0.32
Fiscal Q1 2025 guidance: revenue $255.0 million to $265.0 million; full fiscal 2025 revenue guidance $1,110.0 million to $1,135.0 million
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%.
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.
Bristow Group reported second quarter 2024 total revenues of $359.7 million and net income of $28.2 million, or $0.96 per diluted share, up from $337.1 million and $6.6 million, or $0.23 per diluted share, in the first quarter. The company raised its 2024 Adjusted EBITDA outlook to $210 million to $230 million from $190 million to $220 million, and its 2025 outlook to $230 million to $260 million from $210 million to $245 million.
Q2 2024 total revenues were $359.7 million, compared with $337.1 million in Q1 2024.
Q2 2024 net income was $28.2 million, or $0.96 per diluted share, compared with $6.6 million, or $0.23 per diluted share, in Q1 2024.
Adjusted EBITDA excluding asset dispositions and foreign exchange was $71.3 million, compared with $47.5 million in Q1 2024.
As of June 30, 2024, total liquidity was $246.4 million, including $178.6 million of unrestricted cash.
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.
DaVita reported second-quarter 2024 revenue of $3.187 billion, up from $3.000 billion a year earlier, and diluted EPS of $2.50 versus $1.91. The company raised its 2024 adjusted diluted EPS guidance to $9.25-$10.05 from $9.00-$9.80, though the filing notes that the change reflects a new presentation that no longer excludes about $60 million in center closure costs.
Q2 2024 total revenues were $3.187 billion versus $3.000 billion in Q2 2023; operating income was $506 million versus $405 million.
Diluted EPS was $2.50 versus $1.91 a year earlier; adjusted diluted EPS was $2.59 versus $2.26 in the first quarter of 2024.
Current 2024 adjusted diluted EPS guidance is $9.25 to $10.05, compared with prior guidance of $9.00 to $9.80 given as of May 2, 2024.
During Q2 2024 the company repurchased 2.7 million shares for $376 million.
Gulfport reported a second-quarter 2024 net loss of $26.2 million, compared with net income of $93.7 million a year earlier, as total revenues fell to $181.1 million from $304.7 million. The company kept its full-year capital guidance unchanged and narrowed its 2024 production forecast, but reported profit and revenue declined sharply for shareholders.
Q2 2024 net loss of $26.2 million vs. net income of $93.7 million in Q2 2023; total revenues $181.1 million vs. $304.7 million
Diluted loss of $1.51 per share vs. diluted earnings of $4.18 per share a year earlier
2024 production guidance narrowed to 1,055-1,070 MMcfe per day; capital expenditure guidance unchanged, with over $25 million in expected savings
Repurchased about $25.0 million of common stock in Q2 2024; about $188.8 million of repurchase capacity remained as of July 29, 2024
MasterBrand reported second-quarter 2024 results on August 6, 2024, with net sales down 2.7% to $676.5 million and net income down 11.5% to $45.3 million from a year earlier. The company raised its full-year 2024 outlook after closing its $520 million net cash acquisition of Supreme Cabinetry Brands, but the filing says organic net sales are expected to decline by a low single-digit percentage.
Diluted EPS was $0.35 versus $0.39 a year earlier; adjusted diluted EPS was $0.45 versus $0.44, with the adjusted measure now excluding amortization.
2024 outlook: adjusted EBITDA of $385 million to $405 million and adjusted diluted EPS of $1.50 to $1.62.
Supreme Cabinetry Brands closed after the quarter ended, for a net cash payment of $520 million.
Operating cash flow was $96.1 million for the 26 weeks ended June 30, 2024, versus $194.0 million a year earlier; free cash flow was $77.8 million.
Exelixis reported second quarter 2024 total revenues of $637.2 million, up from $469.8 million a year earlier, and GAAP diluted EPS of $0.77, up from $0.25. The Board also authorized up to $500 million in additional stock repurchases through the end of 2025, and the company updated its full-year 2024 financial guidance.
Q2 2024 total revenues $637.2 million vs. $469.8 million in Q2 2023; net product revenues $437.6 million vs. $409.6 million
GAAP diluted EPS $0.77 vs. $0.25; non-GAAP diluted EPS $0.84 vs. $0.31
Board authorized repurchase of up to $500 million of common stock through the end of 2025; the $450 million 2024 program was completed
2024 total revenues guidance of $1.975 billion to $2.075 billion; FDA accepted cabozantinib sNDA for advanced NET with PDUFA target date of April 3, 2025
Qualys reported second quarter 2024 revenue of $148.7 million, up 8% from a year earlier, and GAAP diluted EPS of $1.17 versus $0.95. The company lowered its full-year 2024 revenue guidance to $597.5 million-$601.5 million from $601.5 million-$608.5 million, while raising its full-year EPS guidance, which matters to shareholders because the revenue and profit outlooks moved in different directions.
Q2 2024 revenue was $148.7 million, up 8% from $137.2 million; GAAP net income rose 24% to $43.8 million.
Full-year 2024 revenue guidance was cut to $597.5 million-$601.5 million from $601.5 million-$608.5 million.
Full-year 2024 GAAP EPS guidance was raised to $3.85-$4.01 from $3.26-$3.50; non-GAAP EPS guidance was raised to $5.46-$5.62 from $5.06-$5.30.
Q2 operating cash flow fell 3% to $49.8 million from $51.5 million a year earlier.
Astera Labs reported second-quarter 2024 revenue of $76.9 million, up 18% from the first quarter and 619% from a year earlier. GAAP net loss narrowed to $7.5 million, or $0.05 per share, from $93.0 million in the first quarter, which included IPO-related stock-based compensation. The company expects third-quarter revenue of $95 million to $100 million, and IPO lock-up restrictions on officers, directors and major holders are expected to end at the open of trading on August 8, 2024.
Q2 revenue of $76.9 million, up 18% sequentially and 619% year over year
GAAP net loss of $7.5 million, or $0.05 per share, versus a $93.0 million net loss in Q1 2024
Non-GAAP net income of $22.2 million, or $0.13 per diluted share
Q3 2024 revenue outlook of $95 million to $100 million; lock-up restrictions expected to end August 8, 2024
Toast reported second-quarter 2024 results, with revenue of $1,242 million versus $978 million a year earlier and GAAP net income of $14 million compared with a net loss of $(98) million in Q2 2023. The company also raised its full-year 2024 Adjusted EBITDA outlook to $285 million to $305 million from $250 million to $270 million, which matters to shareholders because it signals improved profitability expectations.
Q2 2024 total revenue was $1,242 million, up from $978 million in Q2 2023.
GAAP operating income was $5 million in Q2 2024, compared with an operating loss of $(80) million a year earlier.
Full-year 2024 Adjusted EBITDA guidance was raised to $285 million to $305 million from $250 million to $270 million.
Annualized recurring run-rate (ARR) as of June 30, 2024 was $1.5 billion, up 29% year over year.
Fortinet reported second-quarter 2024 results on August 6, 2024, with total revenue of $1.43 billion, up 10.9% from a year earlier, and GAAP diluted earnings of $0.49 per share, up from $0.33. The company raised its full-year 2024 revenue and non-GAAP operating margin guidance, though product revenue fell and total billings were flat.
Total revenue was $1.43 billion, up 10.9%; service revenue rose 19.8% to $982.4 million while product revenue fell 4.4% to $451.9 million.
GAAP diluted net income per share was $0.49 versus $0.33 a year earlier; non-GAAP diluted EPS was $0.57 versus $0.38.
Non-GAAP operating margin was 35.1%, up from 26.9%, and cash flow from operations was $342.0 million, down from $515.1 million.
For fiscal 2024, Fortinet now expects revenue of $5.800 billion to $5.900 billion and a non-GAAP operating margin of 30.0% to 31.5%.
Sunrun reported second-quarter 2024 results on August 6, 2024. Total revenue fell 11% year over year to $523.9 million, while net income attributable to common stockholders rose to $139.1 million, or $0.55 per diluted share, and the company raised its full-year 2024 storage installation guidance and introduced 2025 cash generation guidance of $350 million to $600 million. A separate filing disclosed that a July 31, 2024 accordion exercise raised commitments under its senior secured credit facility to $2.63 billion.
Total revenue was $523.9 million in Q2 2024, down $66.3 million, or 11%, from Q2 2023.
Net income attributable to common stockholders was $139.1 million, or $0.55 per diluted share, versus $55.5 million, or $0.25 per diluted share, in Q2 2023.
Full-year 2024 storage capacity installed guidance was raised to 1,030 to 1,100 megawatt hours from 800 to 1,000; 2025 cash generation guidance of $350 million to $600 million was introduced.
On July 31, 2024, a subsidiary exercised an accordion under the credit facility, bringing commitments to $2.63 billion.
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