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.
Gap Inc. reported second-quarter fiscal 2024 net sales of $3.7 billion, up 5% from a year earlier, with diluted earnings per share of $0.54 versus $0.32. The company raised its fiscal 2024 outlook for gross margin expansion and operating income growth while reaffirming its net sales and operating expense outlook, which points to stronger profitability expectations for shareholders.
Net sales of $3.7 billion, up 5%; comparable sales up 3% for the quarter ended August 3, 2024.
Operating income of $293 million versus $106 million a year earlier; net income of $206 million.
Diluted EPS of $0.54 versus $0.32 in the prior-year quarter.
Fiscal 2024 outlook: gross margin expansion of approximately 200 basis points (prior: at least 150); operating income growth in the mid to high 50% range (prior: mid 40% range).
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.
Pure Storage reported second-quarter fiscal 2025 results for the quarter ended August 4, 2024, with revenue of $763.8 million, up 11% from a year earlier, and GAAP net income of $35.7 million, compared with a net loss of $7.1 million in the prior-year quarter. The company also guided to third-quarter revenue of $815 million and full-year fiscal 2025 revenue of $3.1 billion, with growth of 6.8% and 10.5% respectively.
Q2 revenue $763.8 million, up 11% year-over-year; subscription services revenue $361.2 million, up 25%
GAAP operating income $24.9 million vs. a $6.2 million loss a year earlier; diluted EPS $0.10 vs. $(0.02)
Box reported fiscal second-quarter 2025 results for the quarter ended July 31, 2024, with revenue of $270.0 million, up 3% from $261.4 million a year earlier, and GAAP diluted EPS of $0.10 versus $0.04. The board also expanded the stock repurchase program by $100 million on August 25, 2024, and the company gave revenue and EPS guidance for the third quarter and full fiscal 2025, which includes a deferred tax expense in the United Kingdom.
Q2 revenue of $270.0 million, up 3% (6% in constant currency); RPO of $1.272 billion, up 12%
Non-GAAP diluted EPS was a record $0.44 versus $0.36; GAAP diluted EPS was $0.10 versus $0.04
Q3 revenue guidance of $274 million to $276 million; FY25 non-GAAP EPS guidance of $1.64 to $1.66
Board authorized a $100 million expansion of the stock repurchase program on August 25, 2024; about $25 million of prior capacity remained at July 31, 2024
NAPCO Security Technologies reported record fourth-quarter and fiscal 2024 results for the year ended June 30, 2024, with net sales, net income and Adjusted EBITDA all rising from the prior year. The company also declared a quarterly dividend of $0.125 per share, a 25% sequential increase, payable October 3, 2024 to holders of record on September 12, 2024.
Fourth-quarter net sales rose 13% to $50.3 million; full-year net sales rose 11% to $188.8 million
Full-year net income rose 84% to $49.8 million, or $1.34 per diluted share, versus $0.73 a year earlier
Quarterly dividend raised to $0.125 per share, payable October 3, 2024 to holders of record on September 12, 2024
CAVA Group reported results for the fiscal second quarter ended July 14, 2024, with CAVA revenue up 35.2% to $231.4 million and net income of $19.7 million, compared with $6.5 million a year earlier. The company also raised its fiscal 2024 guidance, lifting Adjusted EBITDA to $109.0 million to $114.0 million from $100.0 million to $105.0 million, which indicates a higher expected profit outlook for shareholders.
Net income was $19.7 million, or $0.17 per diluted share, versus $6.5 million, or $0.21 per diluted share, in the prior year quarter; diluted weighted-average shares rose to 118.3 million from 31.3 million.
CAVA same restaurant sales grew 14.4%, including 9.5% from guest traffic; the company opened 18 net new restaurants, bringing the total to 341.
Fiscal 2024 CAVA same restaurant sales growth guidance was raised to 8.5% to 9.5% from 4.5% to 6.5%, and Adjusted EBITDA guidance to $109.0 million to $114.0 million from $100.0 million to $105.0 million.
Restaurant-level profit margin was 26.5%, up from 26.1% a year earlier; the company cited a June 3 launch of grilled steak as a partial offset to margin gains.
OSI Systems reported fiscal 2024 fourth-quarter and full-year results for the period ended June 30, 2024, with revenue rising 17% in the quarter and 20% for the year. The company also issued fiscal 2025 guidance calling for revenue of $1.620 billion to $1.650 billion and non-GAAP adjusted diluted EPS of $8.80 to $9.15.
Q4 fiscal 2024 revenue was $480.9 million, up 17% from $411.9 million; GAAP diluted EPS was $2.55 versus $2.46 a year earlier.
Fiscal 2024 revenue was $1.54 billion, up 20%; GAAP diluted EPS was $7.38 versus $5.34, and non-GAAP diluted EPS was $8.13.
Fiscal 2025 guidance: revenue of $1.620 billion to $1.650 billion and non-GAAP adjusted diluted EPS of $8.80 to $9.15.
In July 2024 the company issued $350 million of convertible senior notes at 2.25% due in fiscal 2030.
BJ's Wholesale Club reported second-quarter fiscal 2024 results for the 13 weeks ended August 3, 2024, with total revenues of $5.21 billion, up 4.9%, and net income of $145.0 million, up 10.4%. The company kept its fiscal 2024 adjusted EPS outlook of $3.75 to $4.00, and operating income rose only 1.7%, so shareholders see higher profit alongside slower gains at the operating line.
Total revenues were $5,205.4 million, up 4.9%, and comparable club sales rose 3.1%.
Diluted EPS was $1.08 versus $0.97 a year earlier, up 11.3%; adjusted EPS was $1.09, up 10.1%.
Operating income was $203.7 million, up 1.7%; SG&A rose to $750.3 million from $695.0 million.
Fiscal 2024 adjusted EPS outlook was reiterated at $3.75 to $4.00; the company repurchased $40.4 million of stock in the quarter.
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.
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.
Sylvamo reported second quarter 2024 net income of $83 million, or $1.98 per diluted share, up from $43 million, or $1.02, in the first quarter and from $49 million a year earlier. Adjusted EBITDA rose to $164 million from $118 million, and the company gave a third quarter adjusted EBITDA outlook of $170 million to $185 million, which gives shareholders a view of expected near-term earnings.
Net sales of $933 million, up from $905 million in the first quarter and $919 million in the second quarter of 2023
Free cash flow of $62 million, compared with negative $33 million in the first quarter
Third quarter 2024 adjusted EBITDA outlook of $170 million to $185 million
Net special items were $0 million in the second quarter, compared with a $2 million after-tax charge in the first quarter
News Corp reported fiscal fourth-quarter revenue of $2.58 billion, up 6% from $2.43 billion a year earlier, and net income of $71 million, compared with a net loss of $32 million in the prior-year quarter. For the full fiscal year, revenue rose 2% to $10.09 billion and net income rose 89% to $354 million. The company also said it is assessing strategic and financial options for the Foxtel Group after third-party interest, with no assurance of a transaction.
Q4 revenue was $2.58 billion, up 6% from $2.43 billion, led by REA Group, Book Publishing and Dow Jones.
Q4 net income was $71 million versus a $32 million net loss a year earlier; EPS was $0.09 versus $(0.01).
Full-year net income was $354 million, up 89%; full-year revenue was $10.09 billion, up 2%.
The company is assessing strategic and financial options for Foxtel Group and declared a semi-annual dividend of $0.10 per share, payable October 9, 2024.
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
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.
Yelp reported second-quarter 2024 results on August 8, 2024, with net revenue up 6% year over year to a record $357 million and net income up 158% to $38 million, or $0.54 per diluted share. The company also adjusted its full-year 2024 outlook to $1.410 billion to $1.425 billion of net revenue and $325 million to $335 million of adjusted EBITDA, though the filing does not state the prior outlook. Shareholders get stronger profit alongside revenue growth, while the filing notes that restaurant and retail advertisers remain under pressure.
Q2 2024 net revenue was $357 million, up 6% year over year, and $2 million above the high end of the company's outlook range.
Q2 2024 net income was $38 million, or $0.54 per diluted share, versus $15 million, or $0.21 per diluted share, in Q2 2023; adjusted EBITDA was $91 million, up 9%.
Services advertising revenue rose 11% to $223 million, while RR&O advertising revenue fell 3%, and paying advertising locations decreased 6% to 531,000.
Full-year 2024 outlook: net revenue of $1.410 billion to $1.425 billion and adjusted EBITDA of $325 million to $335 million.
Artivion reported second-quarter 2024 revenue of $98.0 million, up 10% from $89.3 million a year earlier, and a net loss of $2.1 million ($0.05 per diluted share), narrower than the $3.4 million loss ($0.08 per share) in the prior-year quarter. The company raised its full-year 2024 revenue and adjusted EBITDA guidance, though the increases at the midpoint are small.
Q2 2024 revenue $98.0 million vs. $89.3 million in Q2 2023, up 10% on both GAAP and constant currency bases
Q2 2024 net loss of $2.1 million ($0.05 per diluted share) vs. net loss of $3.4 million ($0.08 per share) in Q2 2023; non-GAAP net income $2.9 million ($0.07 per share)
Adjusted EBITDA rose 35% to $18.6 million from $13.8 million
FY24 revenue guidance raised to $388 million to $396 million from $386 million to $396 million; adjusted EBITDA guidance raised to $69 million to $72 million from $68 million to $72 million
Agree Realty entered a fourth amended and restated revolving credit agreement with PNC Bank as administrative agent, raising borrowing capacity from $1.0 billion to $1.25 billion and extending maturity from January 15, 2026 to August 8, 2028. The borrowing rate also falls to SOFR plus 72.5 basis points from 77.5 basis points, with a 10-basis point credit spread adjustment in both cases, so the company gets more capacity, longer maturity and lower borrowing costs.
Borrowing capacity rises to $1.25 billion from $1.0 billion; accordion feature allows an increase up to $2.0 billion.
Maturity extended to August 8, 2028 from January 15, 2026, subject to company extension options.
Interest spread cut to SOFR plus 72.5 basis points from 77.5 basis points, plus a 10-basis point credit spread adjustment.
A First Amendment to the July 31, 2023 Term Loan Agreement aligns covenants with the new credit agreement; its maturity and pricing are unchanged.
Doximity reported results for the fiscal 2025 first quarter ended June 30, 2024, with revenue of $126.7 million, up 17% year-over-year, and net income of $41.4 million, up from $28.4 million. The company also issued guidance for the fiscal second quarter and full fiscal 2025, but the filing does not compare that guidance with any prior outlook. Operating cash flow fell 28% to $41.2 million, and the company repurchased $51.2 million of common stock during the quarter.
Revenue of $126.7 million, up 17% from $108.5 million a year earlier
Net income of $41.4 million, up from $28.4 million; diluted EPS of $0.21 versus $0.13
Adjusted EBITDA of $65.9 million, up 42%; operating cash flow of $41.2 million, down 28%
Fiscal 2025 revenue guidance of $514 million to $523 million; fiscal second quarter revenue guidance of $126.5 million to $127.5 million
Trupanion reported second quarter 2024 results for the period ended June 30, 2024. Total revenue rose 16% from a year earlier to $314.8 million, and the net loss narrowed to $5.9 million, or $0.14 per share, from $13.7 million, or $0.33 per share, in the second quarter of 2023. Shareholders get improved revenue, profit and cash flow measures, though the filing gives no forward guidance.
Total revenue was $314.8 million, up 16% from $270.6 million in the second quarter of 2023.
Net loss was $5.9 million ($0.14 per share), compared with $13.7 million ($0.33 per share) a year earlier.
Adjusted EBITDA was $7.4 million, compared with a loss of $3.2 million in the second quarter of 2023.
Free cash flow was $4.0 million, compared with negative $8.1 million a year earlier; subscription revenue rose 20% to $208.6 million.
Parker Hannifin reported fiscal fourth-quarter 2024 sales of $5.2 billion, up 2%, and diluted earnings per share of $6.01, up 10% from a year earlier. It also issued fiscal 2025 guidance calling for total sales growth of 1.5% to 4.5% and EPS of $22.65 to $23.35. Shareholders get a higher quarterly profit and a forecast for the coming year, though the Diversified Industrial segment's sales declined.
Q4 sales rose 2% to $5.2 billion; Aerospace Systems sales rose 19.2% to $1.5 billion, while Diversified Industrial sales fell 4%
Q4 diluted EPS was $6.01, up 10%; adjusted EPS was $6.77, up 11%
Full-year fiscal 2024 diluted EPS was $21.84, up 36%; free cash flow was $2.98 billion
Fiscal 2025 guidance: EPS of $22.65 to $23.35 ($26.30 to $27.00 adjusted) and total sales growth of 1.5% to 4.5%
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.
Roivant reported results for the fiscal quarter ended June 30, 2024, with revenue of $55.1 million, up from $21.6 million a year earlier, and net income of $57.5 million compared with a net loss of $327.8 million. The profit includes a $110.4 million gain on the sale of Telavant net assets, and the company's non-GAAP net loss was $131.2 million, narrower than $211.5 million a year earlier.
Revenue, net was $55.1 million versus $21.6 million a year earlier; product revenue, net was $18.4 million
Net income was $57.5 million, or $0.13 basic and $0.12 diluted per share, versus a net loss of $0.38 per share a year earlier
Gain on sale of Telavant net assets of $110.4 million; non-GAAP net loss was $131.2 million versus $211.5 million
Cash, cash equivalents and restricted cash were approximately $5.7 billion at June 30, 2024, after a $648 million share repurchase announced in April 2024
Datadog reported second quarter 2024 revenue of $645 million, up 27% from a year earlier, and GAAP net income of $0.12 per diluted share versus a loss of $0.01 a year earlier. The company also gave third quarter revenue guidance of $660 million to $664 million and full-year 2024 revenue guidance of $2.62 billion to $2.63 billion.
Q2 2024 revenue was $645 million, up 27% year-over-year; GAAP operating income was $13 million.
Non-GAAP net income per diluted share was $0.43, versus $0.29 in Q2 2023.
Customers with ARR of $100,000 or more rose about 13% to about 3,390 as of June 30, 2024.
Q3 2024 revenue outlook is $660 million to $664 million; full-year 2024 revenue outlook is $2.62 billion to $2.63 billion.
Lamar Advertising reported second-quarter 2024 results, with net revenue up 4.5% to $565.3 million and net income up to $137.6 million from $130.9 million a year earlier. Management said it continues to pace at the top end of its full-year diluted AFFO per share guidance of $7.75 to $7.90, and the company also disclosed a new at-the-market equity offering agreement of up to $400.0 million.
Q2 2024 net revenue was $565.3 million, up 4.5% from $541.1 million; diluted EPS was $1.34 versus $1.28
Diluted AFFO per share rose 9.5% to $2.08; management said it is pacing at the top end of the $7.75 to $7.90 full-year guidance
As of June 30, 2024, total liquidity was $744.3 million, including $77.9 million in cash
On July 24, 2024, Lamar entered an at-the-market offering agreement for up to $400.0 million of Class A common stock
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%
YETI reported second-quarter 2024 net sales up 15% to $463.5 million, or 9% on an adjusted basis that excludes a 2023 recall reserve adjustment, and GAAP diluted EPS of $0.59, up from $0.44. The company raised its fiscal 2024 adjusted sales growth outlook to 8% to 10% and its adjusted EPS outlook to $2.61 to $2.65, which matters to shareholders because it signals higher expected profit for the year.
Net sales rose 15% to $463.5 million; adjusted net sales rose 9% after excluding the $24.5 million unfavorable recall reserve impact in the prior-year quarter.
GAAP diluted EPS was $0.59 versus $0.44; adjusted EPS was $0.70 versus $0.57.
Fiscal 2024 adjusted EPS outlook raised to $2.61 to $2.65, from $2.49 to $2.62 previously.
Cash was $212.9 million at June 29, 2024, and $200 million remained under the share repurchase program.
Watts Water Technologies reported second-quarter 2024 sales of $597 million, up 12% on a reported basis but flat organically, and reported EPS of $2.44, up 8%. The company kept its full-year 2024 outlook and extended its revolving credit facility to July 12, 2029.
Reported sales of $597.3 million rose 12% from $532.8 million a year earlier; organic sales were flat, and acquisitions added $65 million
Reported EPS was $2.44, up from $2.26; adjusted EPS was $2.46, up 5% from $2.34
Reported operating margin was 18.7%, down 10 basis points; Europe sales fell 16% and its operating margin fell 580 basis points
Full-year 2024 outlook maintained: reported sales growth of 7% to 12% and adjusted operating margin of 17.1% to 17.7%
Monster Beverage reported second-quarter 2024 net sales of $1.90 billion, up 2.5% from a year earlier, and diluted earnings per share of $0.41, up 5.0%. Net income rose 2.8% to $425.4 million, while unfavorable foreign currency changes reduced net sales by $67.7 million.
Q2 net sales rose 2.5% to $1.90 billion; net sales excluding the Alcohol Brands segment, adjusted for currency, rose 7.4%.
Gross profit as a percentage of net sales was 53.6%, compared with 52.5% a year earlier.
Operating expenses rose to $492.3 million from $450.4 million, and Q2 operating income was $527.2 million versus $523.8 million.
Alcohol Brands segment net sales fell 31.9% to $41.6 million; a conference call is scheduled for August 7, 2024 at 2:00 p.m. Pacific Time.
Brighthouse Financial reported second quarter 2024 net income available to shareholders of $9 million, or $0.12 per diluted share, compared with a net loss of $200 million a year earlier. Adjusted earnings rose to $346 million, or $5.57 per diluted share, from $271 million, but the CEO said the statutory capital ratio ended the quarter at or modestly below the low end of its target range.
Q2 2024 net income $9 million ($0.12 per diluted share) vs. net loss of $200 million in Q2 2023
Q2 2024 adjusted earnings $346 million ($5.57 per diluted share) vs. $271 million in Q2 2023
Estimated combined RBC ratio between 380% and 400% as of June 30, 2024; holding company liquid assets $1.2 billion
Repurchased approximately $64 million of common stock in Q2 2024 and about $151 million year-to-date through August 2, 2024
Maximus reported fiscal third-quarter 2024 revenue of $1.31 billion, up 10.6% from a year earlier, and diluted earnings per share of $1.46 versus $0.50. The company raised its fiscal 2024 guidance for a third consecutive time, with adjusted diluted EPS now expected at $6.00 to $6.20, which points to stronger earnings for shareholders.
Q3 FY2024 revenue rose 10.6% to $1.31 billion; diluted EPS was $1.46 versus $0.50 a year earlier
Adjusted diluted EPS was $1.74 versus $0.78 in the prior-year quarter
FY2024 guidance: revenue $5.25 billion to $5.35 billion; adjusted diluted EPS $6.00 to $6.20; free cash flow $350 million to $380 million
Quarterly dividend of $0.30 per share is payable August 31, 2024
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.
HubSpot reported second-quarter 2024 revenue of $637.2 million, up 20% from a year earlier, and a GAAP net loss of $14.4 million, or $0.28 per share, compared with a $111.8 million loss in Q2 2023. It also issued third-quarter and full-year 2024 guidance, including full-year revenue of $2.567 billion to $2.573 billion and non-GAAP net income per share of $7.64 to $7.70.
Q2 2024 total revenue was $637.2 million, up 20% from Q2 2023; subscription revenue was $623.8 million.
GAAP net loss was $14.4 million, or $0.28 per share, versus a $111.8 million loss, or $2.25 per share, in Q2 2023.
Non-GAAP net income was $103.5 million, or $1.94 per diluted share, versus $71.8 million, or $1.38, a year earlier.
Q3 2024 revenue is expected at $646.0 million to $647.0 million; full-year 2024 non-GAAP operating income is expected at $437.0 million to $441.0 million.
Dutch Bros reported second-quarter 2024 results on August 7, 2024, with total revenue up 30.0% year over year and net income rising to $22.2 million from $9.7 million. The company raised its 2024 revenue and Adjusted EBITDA guidance and lowered its capital expenditure range, which indicates higher expected operating results for shareholders.
Total revenues were $324.9 million, up 30.0% from $249.9 million a year earlier.
Net income was $22.2 million, or $0.12 per diluted share, versus $9.7 million, or $0.05, in Q2 2023.
2024 total revenue guidance was raised to $1.215 billion to $1.230 billion, from $1.20 billion to $1.215 billion.
2024 Adjusted EBITDA guidance was raised to $200 million to $210 million, from $195 million to $205 million.
Boot Barn reported first-quarter fiscal 2025 net sales up 10.3% to $423.4 million and diluted EPS of $1.26, up from $1.13 a year earlier. The company also replaced its prior fiscal 2025 guidance, raising the expected diluted EPS range to $5.05 to $5.35 from a prior high end of $4.85, which signals higher expected profit for shareholders.
Q1 net sales rose 10.3% to $423.4 million; consolidated same store sales rose 1.4%, with e-commerce up 6.7%.
Q1 net income was $38.9 million, or $1.26 per diluted share, versus $34.3 million, or $1.13, a year earlier, including a benefit of about $0.06 per share from share-based compensation tax accounting.
Fiscal 2025 net sales guidance is $1.816 billion to $1.850 billion, versus a prior high end of $1.800 billion; income from operations guidance is $207.0 million to $219.4 million.
Second-quarter guidance calls for total sales of $405 million to $412 million and diluted EPS of $0.81 to $0.87.
SiTime reported second-quarter 2024 net revenue of $43.9 million, up 33% from the prior quarter and 58% from a year earlier, and said results exceeded its outlook. GAAP net loss was $26.8 million, or $1.16 per diluted share, compared with $28.7 million in the first quarter, and non-GAAP net income was $2.8 million, or $0.12 per diluted share.
Q2 2024 net revenue of $43.9 million, up 33% from $33.0 million in Q1 2024 and up 58% year over year
GAAP net loss of $26.8 million, or $1.16 per diluted share, versus a $28.7 million loss in Q1 2024
Non-GAAP net income of $2.8 million, or $0.12 per diluted share, versus a non-GAAP net loss of $1.9 million in Q1 2024
Cash, cash equivalents and short-term investments were $452.5 million on June 30, 2024, after a $68.6 million payment related to the Aura transaction
Sabra Health Care REIT reported second-quarter 2024 net income of $0.10 per diluted share, up from $0.09 a year earlier, and raised its 2024 earnings guidance ranges. The company also declared a quarterly dividend of $0.30 per share, which matters to shareholders because it reflects both higher reported earnings and the updated outlook.
Q2 2024 net income was $0.10 per diluted share versus $0.09 in Q2 2023; FFO was $0.35 versus $0.32
2024 guidance raised: net income $0.48-$0.51, Normalized FFO $1.36-$1.39, Normalized AFFO $1.41-$1.44 per diluted share
Quarterly dividend of $0.30 per share declared August 7, 2024, payable August 30, 2024 to holders of record on August 19, 2024
Net Debt to Adjusted EBITDA was 5.45x as of June 30, 2024; liquidity was approximately $906.0 million
Kratos Defense & Security Solutions reported second quarter 2024 revenue of $300.1 million, up 16.8% from $256.9 million a year earlier, and GAAP net income attributable to Kratos of $7.9 million, or $0.05 per share, compared with a net loss of $2.7 million, or $0.02 per share, in the second quarter of 2023. The company affirmed its full year 2024 revenue guidance of $1,125 million to $1,150 million and gave initial third quarter revenue guidance of $265 million to $280 million.
Q2 2024 revenue $300.1 million, up from $256.9 million; Unmanned Systems revenue $85.8 million, up 64.7%
Q2 2024 Adjusted EBITDA $29.9 million, compared with $21.6 million in Q2 2023
Full year 2024 revenue guidance of $1,125 million to $1,150 million affirmed; Q3 2024 revenue guidance $265 million to $280 million
Q2 2024 operating cash flow was negative $2.7 million; consolidated backlog was $1.303 billion at June 30, 2024
Duolingo reported second-quarter 2024 results on August 7, 2024, with revenue of $178.3 million, up 41% from the prior year quarter, and net income of $24.4 million, compared with $3.7 million a year earlier. The company also issued third-quarter 2024 guidance of $186.7 million to $189.7 million in revenue and updated its full-year 2024 revenue outlook to $731.3 million to $738.3 million, which shareholders can use to gauge expected growth.
Q2 2024 total revenues were $178.3 million, up 41%, and total bookings were $190.1 million, up 38%.
Net income was $24.4 million versus $3.7 million in Q2 2023; Adjusted EBITDA was $48.1 million, a 27.0% margin.
Paid subscribers reached 8.0 million at quarter end, up 52%, and monthly active users reached 103.6 million, up 40%.
Q3 2024 revenue guidance is $186.7 million to $189.7 million; full-year 2024 revenue guidance is $731.3 million to $738.3 million.
Ralph Lauren reported first quarter fiscal 2025 results for the quarter ended June 29, 2024, with diluted earnings per share of $2.61, up 33% from $1.96 a year earlier, and revenue up 1% to $1.5 billion. The company reaffirmed its full-year fiscal 2025 outlook of low-single-digit constant-currency revenue growth and 100 to 120 basis points of adjusted operating margin expansion, and it said first quarter results exceeded its expectations.
Diluted EPS was $2.61 versus $1.96 a year earlier, up 33%; adjusted EPS was $2.70, up 15%.
Revenue rose 1% to $1.5 billion (3% in constant currency); Europe grew 6%, Asia 4%, and North America fell 4%.
Full-year fiscal 2025 outlook reaffirmed: low-single-digit constant-currency revenue growth and 100 to 120 basis points of operating margin expansion.
Cash and short-term investments were $1.8 billion; the company repurchased approximately $176 million of Class A common stock in the quarter.
American Financial Group reported second quarter 2024 net earnings of $209 million, or $2.49 per diluted share, up from $200 million, or $2.34 per share, a year earlier. Core net operating earnings rose to $215 million ($2.56 per share) from $202 million ($2.38 per share), and the Specialty P&C combined ratio improved to 90.5% from 91.9%, which points to stronger underwriting results for shareholders.
Net earnings of $209 million ($2.49 per diluted share) vs. $200 million ($2.34) in Q2 2023
Core net operating earnings of $215 million ($2.56 per share), 8% higher than the $2.38 reported a year earlier
Specialty P&C combined ratio of 90.5%, an improvement of 1.4 points from 91.9% in Q2 2023
Earnings release dated August 6, 2024 furnished as Exhibit 99.1; conference call set for 11:30 a.m. ET on August 7, 2024
The New York Times Company reported second-quarter 2024 revenue of $625.1 million, up 5.8%, with operating profit up 42.4% to $79.4 million and diluted earnings per share of $0.40, versus $0.28 a year earlier. Digital-only subscribers rose by 300,000 in the quarter to 10.21 million, and the company guided to third-quarter digital-only subscription revenue growth of 12% to 15%, alongside adjusted operating cost growth of 5% to 6%.
Total revenues were $625.1 million, up 5.8% from $590.9 million in Q2 2023
Operating profit was $79.4 million, versus $55.8 million; diluted EPS was $0.40, versus $0.28
Digital-only subscribers reached 10.21 million, a net addition of 300,000 during the quarter
Q3 2024 guidance: digital-only subscription revenues up 12% to 15%; adjusted operating costs up 5% to 6%
Reynolds Consumer Products reported second-quarter 2024 net revenues of $930 million, down from $940 million a year earlier, while net income rose to $97 million from $66 million and EPS reached $0.46 versus $0.32. The company raised its full-year 2024 net revenue, net income, Adjusted EBITDA and EPS guidance and issued third-quarter 2024 guidance, which points to higher expected profit despite slightly lower sales.
Q2 2024 net revenues were $930 million versus $940 million in Q2 2023, with retail net revenues up 1% to $892 million.
Q2 2024 net income was $97 million versus $66 million, and Adjusted EBITDA was $172 million versus $150 million.
Full-year 2024 Adjusted EBITDA guidance was raised to $670 million to $685 million from $660 million to $680 million, and EPS guidance to $1.65 to $1.71 from $1.62 to $1.70.
The board approved a quarterly dividend of $0.23 per share, payable August 30, 2024, and a $50 million term loan prepayment was made after quarter end.
Dynatrace reported fiscal first-quarter 2025 results for the quarter ended June 30, 2024, with total revenue of $399 million, up 20% year over year, and non-GAAP diluted EPS of $0.33, up from $0.27. GAAP diluted EPS was $0.13, unchanged from a year earlier. The company issued second-quarter revenue guidance of $404 million to $407 million and kept its full-year fiscal 2025 guidance unchanged, which shareholders may watch for signs of how growth is tracking.
Total revenue $399 million, up 20%; annual recurring revenue (ARR) $1.54 billion, up 19%
GAAP net income $38.6 million vs. $38.2 million a year earlier; GAAP diluted EPS $0.13 in both periods
Non-GAAP diluted EPS $0.33 vs. $0.27; GAAP income from operations $42 million vs. $34 million
Q2 fiscal 2025 revenue guidance $404 million to $407 million; full-year revenue guidance $1,644 million to $1,658 million, unchanged
NiSource reported second quarter 2024 results, with GAAP net income available to common shareholders of $85.8 million, or $0.19 per diluted share, up from $39.9 million, or $0.09, a year earlier. Adjusted EPS was $0.21 versus $0.11, and the company reaffirmed its 2024 adjusted EPS guidance of $1.70-1.74 and its 6-8% annual adjusted EPS growth target for 2023-2028.
Q2 2024 GAAP net income available to common shareholders: $85.8 million, $0.19 per diluted share, versus $39.9 million, $0.09, in Q2 2023
Q2 2024 adjusted net income available to common shareholders: $94.7 million, $0.21 adjusted EPS, versus $50.3 million, $0.11, in Q2 2023
2024 adjusted EPS guidance of $1.70-1.74 reaffirmed; 2024-2028 base capital expenditure plan is $16.4 billion
Six months ended June 30, 2024 GAAP EPS was $0.95, versus $0.80 a year earlier
Avista Corp. reported second-quarter 2024 net income of $22.9 million, or $0.29 per diluted share, up from $17.5 million, or $0.23, a year earlier. Year-to-date net income rose to $94.4 million, or $1.20 per diluted share, from $72.3 million, or $0.96. The company confirmed its 2024 consolidated earnings guidance of $2.36 to $2.56 per diluted share and said a large new electric customer added August 1 is expected to substantially offset higher power supply costs in 2024.
Q2 2024 net income was $22.9 million ($0.29 per diluted share) versus $17.5 million ($0.23) in Q2 2023.
Year-to-date 2024 net income was $94.4 million ($1.20 per diluted share) versus $72.3 million ($0.96) in 2023.
2024 consolidated earnings guidance of $2.36 to $2.56 per diluted share was confirmed, with Avista Utilities expected at $2.23 to $2.39.
The company expects to issue approximately $70 million of common stock in 2024 and does not expect additional long-term debt in 2024.
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