590 material Form 8-K filings that 521 companies we cover made with the SEC in October 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).
Houlihan Lokey reported fiscal second-quarter 2025 revenues of $575 million, up from $467 million a year earlier, and GAAP diluted EPS of $1.37 versus $0.99. Adjusted diluted EPS was $1.46 compared with $1.11. The board also declared a $0.57 per share quarterly dividend, payable December 15, 2024, and CEO Scott Adelson said the outlook for the second half of fiscal 2025 is positive.
Revenues were $575 million versus $467 million; Corporate Finance rose 29%, Financial Restructuring 15% and Financial and Valuation Advisory 12%.
Net income was $94 million, or $1.37 per diluted share, versus $67 million, or $0.99, a year earlier.
Adjusted diluted EPS was $1.46 versus $1.11 for the same quarter last year.
Quarterly dividend of $0.57 per share is payable December 15, 2024 to holders of record on December 2, 2024.
Dorian LPG reported results for the quarter ended September 30, 2024, with revenues of $82.4 million, down 43.0% from a year earlier, and net income of $9.4 million, or $0.22 per diluted share, versus $76.5 million, or $1.89, a year earlier. The company attributed the decline mainly to lower average time charter equivalent rates, which fell to $37,010 per available day from $62,846, and it declared an irregular dividend of $42.8 million payable November 25, 2024.
Revenues were $82.4 million, down $62.3 million or 43.0% from $144.7 million in the prior-year quarter.
Net income was $9.4 million, or $0.22 per diluted share, versus $76.5 million, or $1.89, a year earlier; adjusted EPS was $0.35 versus $1.85.
TCE rate per available day was $37,010, a 41.1% decrease from $62,846.
An irregular dividend totaling $42.8 million is payable on or about November 25, 2024 to shareholders of record as of November 5, 2024.
Pilgrim's Pride reported third quarter 2024 results on October 30, 2024, with net sales of $4.6 billion, up 5.2% from a year earlier, and GAAP diluted EPS of $1.47 versus $0.51. Operating income rose to $508.4 million from $206.4 million, and the company reported no change to its outlook in this filing. Profit growth is the main point for shareholders, though the filing's figures are for one quarter and it does not include forward guidance.
Net sales were $4,585.0 million, up 5.2% from $4,360.2 million in the third quarter of 2023
GAAP net income was $350.0 million, and diluted EPS was $1.47 versus $0.51 a year earlier
Adjusted EBITDA was $660.4 million, a 14.4% margin, compared with $324.0 million and 7.4% a year earlier
Results include a $10.7 million pension plan termination loss and an $8.1 million hurricane-related inventory write-down; a conference call is set for October 31 at 7 a.m. MT
Cactus reported third quarter 2024 revenue of $293.2 million, up from $287.9 million a year earlier, while net income fell to $62.4 million from $68.0 million and diluted earnings per Class A share fell to $0.74 from $0.80. The company also cut its full-year 2024 net capital expenditure range to $32 million to $37 million and said it is no longer pursuing a growth opportunity that drove non-routine corporate expenses.
Q3 2024 revenue was $293.2 million, compared with $290.4 million in the second quarter of 2024 and $287.9 million in the third quarter of 2023.
Operating income was $76.8 million, down from $87.6 million a year earlier, and net income was $62.4 million, down from $68.0 million.
Adjusted EBITDA was $100.4 million, a 34.2% margin, and cash and cash equivalents were $303.4 million with no bank debt as of September 30, 2024.
The Board declared a quarterly dividend of $0.13 per Class A share, payable December 19, 2024, and full-year 2024 net capital expenditures are now expected to be $32 million to $37 million.
MetLife reported third quarter 2024 net income of $1.3 billion, or $1.81 per share, up from $422 million a year earlier, driven mainly by net derivative gains. Adjusted earnings fell 8 percent to $1.4 billion, or $1.95 per share, and adjusted premiums, fees and other revenues declined 5 percent, so shareholders see a mixed picture of reported profit gains alongside weaker core measures.
Net income was $1.3 billion ($1.81 per share) versus $422 million ($0.56 per share) in Q3 2023, mainly from net derivative gains of $767 million.
Adjusted earnings were $1.4 billion ($1.95 per share), down 8 percent in dollars and 1 percent per share from $1.97 a year earlier.
Adjusted premiums, fees and other revenues fell 5 percent to $12.5 billion, while adjusted net investment income rose 2 percent to $5.1 billion.
Book value per share rose 33 percent to $39.02; holding company cash and liquid assets were $4.5 billion at September 30, 2024.
Antero Resources reported third quarter 2024 results with a net loss attributable to the company of $20 million, compared with net income of $17.8 million a year earlier. Total revenue fell to $1.06 billion from $1.13 billion, and Adjusted EBITDAX declined to $187 million from $271 million. The company also lowered its 2024 drilling and completion capital budget, while keeping its 2024 production guidance unchanged.
Q3 2024 net loss attributable to Antero of $20 million, versus net income of $17.8 million in Q3 2023
Total revenue of $1.06 billion, versus $1.13 billion a year earlier; Adjusted EBITDAX of $187 million, versus $271 million
2024 drilling and completion capital budget cut to $640 million to $660 million from $650 million to $700 million
Net production averaged 3.4 Bcfe/d, a 2% decrease from the year-ago period; 2024 production guidance maintained
Service Corporation International reported third quarter 2024 revenue of $1,014.0 million, up $12.1 million from a year earlier, while operating income fell to $212.4 million from $223.0 million. The company narrowed its full-year 2024 adjusted EPS outlook to $3.47 to $3.57 from a prior expectation in the lower half of $3.50 to $3.80, and raised the midpoint of its operating cash flow guidance.
Q3 2024 diluted EPS was $0.81 vs $0.80; adjusted EPS was $0.79 vs $0.78 in Q3 2023
Net income attributable to common stockholders was $117.8 million vs $122.0 million a year earlier
2024 adjusted EPS outlook is $3.47 to $3.57; Q4 2024 adjusted EPS outlook is $1.00 to $1.10
Full-year adjusted operating cash flow guidance raised to $940 million to $960 million from $900 million to $960 million
The Hanover Insurance Group reported third-quarter 2024 net income of $102.1 million, or $2.80 per diluted share, compared with $8.6 million, or $0.24 per share, a year earlier. Operating income rose to $111.3 million, or $3.05 per share, from $6.8 million, and the combined ratio improved to 95.5% from 104.4%, which strengthens earnings for shareholders.
Net income of $102.1 million, or $2.80 per diluted share, versus $8.6 million, or $0.24, in the third quarter of 2023
Operating income of $111.3 million, or $3.05 per diluted share, versus $6.8 million, or $0.19
Combined ratio of 95.5% versus 104.4%; catastrophe losses were $105.9 million, or 7.2 points
Book value per share of $79.90, up 12.6% from June 30, 2024
Rush Street Interactive reported third-quarter 2024 revenue of $232.1 million, up 37% from a year earlier, and net income of $3.2 million compared with a net loss of $13.4 million in the same quarter of 2023. The company raised its full-year 2024 revenue and adjusted EBITDA guidance and authorized a share repurchase of up to $50 million, which may be used over time at management's discretion.
Q3 2024 revenue was $232.1 million, up 37% from $169.9 million in Q3 2023.
Q3 2024 net income was $3.2 million, versus a net loss of $13.4 million a year earlier.
2024 revenue guidance is $900 million to $920 million; adjusted EBITDA guidance is $82 million to $86 million, with the midpoint raised by $16 million.
On October 24, 2024, the Board authorized repurchases of up to $50 million of Class A common stock.
Valaris Limited reported third quarter 2024 results on October 30, 2024. Revenue rose to $643 million from $610 million in the second quarter and Adjusted EBITDA rose to $150 million from $139 million, while net income fell to $63 million from $151 million, with a $24 million tax expense compared with a $30 million tax benefit in the prior quarter. The company also repurchased $100 million of shares during the quarter.
Revenue $643 million vs. $610 million in Q2 2024; Adjusted EBITDA $150 million vs. $139 million
Net income $63 million vs. $151 million in Q2 2024; net income included $24 million of tax expense
Repurchased $100 million of shares in the third quarter; free cash flow of $111 million
Three-year contract extension for VALARIS 118 added $168 million of contract backlog
Murphy USA reported third-quarter 2024 net income of $149.2 million, or $7.20 per diluted share, down from $167.7 million, or $7.69, a year earlier, as lower total fuel contribution and higher store operating expenses outweighed higher retail fuel volumes and merchandise contribution. The company raised its full-year capital expenditure range and lowered its SG&A expense range, and it declared a higher quarterly dividend, which shareholders will receive on December 2, 2024.
Q3 2024 net income was $149.2 million, or $7.20 per diluted share, versus $167.7 million, or $7.69, in Q3 2023.
Adjusted EBITDA was $285.6 million, down from $306.0 million; total fuel contribution fell to 32.6 cpg from 34.5 cpg.
Full-year capital expenditure guidance was raised to $500 million-$525 million from $400 million-$450 million; SG&A guidance was cut to $240 million-$250 million from $255 million-$265 million.
Quarterly dividend increased to $0.48 per share from $0.45, payable December 2, 2024, to holders of record as of November 4, 2024.
Cognex reported third-quarter 2024 revenue of $235 million, up 19% from a year earlier and up 7% excluding Moritex, but down 2% from the prior quarter. GAAP diluted EPS was $0.17, up from $0.11, and adjusted diluted EPS was $0.20, up from $0.17. For the fourth quarter, the company expects revenue of $210 million to $230 million, and its board declared a quarterly dividend of $0.08 per share.
Q3-24 revenue $235 million vs $197 million in Q3-23; sequentially down from $239 million in Q2-24
GAAP operating income $32 million, down from $38 million in Q2-24; adjusted EBITDA $41 million, 17.6% of revenue
Q4-24 revenue guidance of $210 million to $230 million; adjusted EBITDA margin expected between 14% and 17%
Quarterly dividend of $0.08 per share, payable November 29, 2024, to holders of record on November 14, 2024
Watts Water Technologies reported third-quarter 2024 reported sales of $544 million, up 8%, but organic sales fell 4%, and adjusted EPS of $2.03 was slightly below $2.04 a year earlier. The company raised the midpoint of its full-year operating margin outlook and narrowed its sales guidance. Chief Financial Officer Shashank Patel plans to retire on March 15, 2025, and the company has started a search for a successor.
Reported sales were $543.6 million, up 8%; organic sales declined 4%, and acquisitions added $59 million in the Americas.
Reported diluted EPS was $2.06, up 5%; adjusted EPS was $2.03, compared with $2.04 a year earlier.
Full-year 2024 outlook: reported sales growth of 9% to 10%, organic sales down 1% to 2%, and reported operating margin of 17.2% to 17.4%, with the midpoint raised by 20 basis points.
CFO Shashank Patel will retire March 15, 2025, and remain CFO until a successor is named.
C.H. Robinson reported third-quarter 2024 results for the quarter ended September 30, 2024, with total revenues up 7.0% to $4.6 billion and income from operations up 58.7% to $180.1 million. Diluted EPS rose 17.6% to $0.80 and adjusted EPS rose 45.5% to $1.28, though results include a $57.0 million loss on the planned divestiture of its Europe Surface Transportation business. Cash generated by operations fell $97.2 million to $108.1 million, which the company attributed to higher net operating working capital tied to higher ocean rates.
Total revenues rose 7.0% to $4.6 billion; gross profit rose 15.5% to $723.8 million
Income from operations rose 58.7% to $180.1 million; net income was $97.2 million, up 18.6%
Diluted EPS was $0.80 (up 17.6%); adjusted EPS was $1.28 (up 45.5%)
Cash from operations fell $97.2 million to $108.1 million; the company expects full-year 2024 effective tax rate of 18% to 20%
United States Lime & Minerals reported third quarter 2024 revenue of $89.4 million, up 19.4% from a year earlier, and net income of $33.4 million, or $1.16 per diluted share, up 60.9%. The company also declared a regular quarterly cash dividend of $0.05 per share, and the filing reports higher gross profit for both the quarter and the first nine months of 2024.
Third quarter 2024 revenue was $89.4 million, up $14.5 million, or 19.4%, from $74.9 million in the third quarter of 2023.
Third quarter 2024 net income was $33.4 million ($1.16 per diluted share), compared with $20.7 million ($0.73 per diluted share) a year earlier.
First nine months 2024 net income was $81.8 million ($2.85 per diluted share), compared with $57.5 million ($2.02 per diluted share) in the same period of 2023.
The Board declared a $0.05 per share quarterly dividend, payable December 13, 2024, to shareholders of record on November 22, 2024.
John B. Sanfilippo & Son reported fiscal 2025 first quarter results ended September 26, 2024. Net sales rose 18.0% to $276.2 million, mainly from the Lakeville snack bar acquisition, but gross profit fell 18.4% and diluted EPS fell 33.8% to $1.00 on lower selling prices, higher commodity costs and a one-time customer concession.
Net sales increased $42.1 million, or 18.0%, to $276.2 million, including about $40.5 million from the Lakeville Acquisition; excluding it, net sales rose $1.6 million, or 0.7%.
Gross profit decreased 18.4% to $46.5 million, and gross margin fell to 16.9% of net sales from 24.4% a year earlier.
Net income was $11.7 million versus $17.6 million in the prior-year quarter; diluted EPS was $1.00 versus $1.51.
The company will hold an investor conference call on Thursday, October 31, 2024, at 10:00 a.m. Eastern.
Casella Waste Systems reported third-quarter 2024 revenue of $411.6 million, up 16.7% from a year earlier, driven by acquisitions and pricing. Net income fell to $5.8 million, or $0.10 per diluted share, as an $8.5 million Southbridge Landfill charge and higher acquisition expenses weighed on results. The company lowered its fiscal 2024 net income guidance to $10 million to $20 million while reaffirming its revenue, Adjusted EBITDA and cash flow ranges.
Q3 revenue was $411.6 million, up $58.9 million, or 16.7%, from the same period in 2023
Q3 net income was $5.8 million, or $0.10 per diluted share, down from $18.2 million, or $0.31, a year earlier
Q3 Adjusted EBITDA was $102.9 million, up 14.9%; an $8.5 million Southbridge Landfill charge was recorded in the quarter
Fiscal 2024 net income guidance was lowered to $10 million to $20 million from $15 million to $25 million; revenue guidance of $1.520 billion to $1.550 billion was reaffirmed
Omega Healthcare Investors reported third quarter 2024 results, with revenue of $276.0 million, up $34.0 million from a year earlier, and net income of $114.9 million, or $0.42 per diluted share, compared with $0.37 in the third quarter of 2023. The company raised its full-year 2024 Adjusted FFO guidance to $2.84 to $2.86 per diluted share from $2.78 to $2.84.
Q3 2024 net income $114.9 million, or $0.42 per diluted share, versus $93.9 million, or $0.37, in Q3 2023
Q3 2024 revenue $276.0 million, up $34.0 million year over year
Q3 2024 Adjusted FFO $203.1 million, or $0.74 per common share, versus $182.2 million, or $0.71, in Q3 2023
2024 Adjusted FFO guidance raised to $2.84 to $2.86 per diluted share from $2.78 to $2.84; quarterly dividend of $0.67 per share payable November 15, 2024
Arcosa reported third quarter 2024 revenue of $640.4 million, up 8%, and Adjusted EBITDA of $114.0 million, up 28%. GAAP net income fell 53% to $16.6 million, or $0.34 per diluted share, while adjusted diluted EPS rose 25% to $0.91. The company raised its full-year Adjusted EBITDA guidance to $435 million to $450 million but narrowed its revenue range to $2.56 billion to $2.63 billion, reflecting the steel components divestiture and the $1.2 billion Stavola acquisition that closed October 1.
Q3 revenue $640.4 million vs. $591.7 million a year earlier; net income $16.6 million vs. $35.5 million
Adjusted diluted EPS $0.91 vs. $0.73; Adjusted EBITDA $114.0 million vs. $89.4 million, with margin of 17.8% vs. 15.1%
Full-year 2024 Adjusted EBITDA guidance raised to $435 million to $450 million from $420 million to $440 million
Full-year revenue guidance changed to $2.56 billion to $2.63 billion from $2.60 billion to $2.72 billion
Comstock Resources reported a third-quarter 2024 net loss of $25.7 million, or $0.09 per share, compared with net income of $14.7 million, or $0.05 per share, a year earlier. Total revenues fell to $304.5 million from $376.7 million, and the company said weak natural gas prices weighed heavily on results, which matters to shareholders because lower revenue and a loss reduce earnings available to shareholders.
Realized natural gas price averaged $1.90 per Mcf before hedging, versus $2.33 a year earlier.
Adjusted net loss was $48.5 million, or $0.17 per share, compared with adjusted net income of $11.7 million, or $0.04 per share, in the third quarter of 2023.
Natural gas and oil sales including hedging gains were $305.0 million, down from $315.8 million; the bank group reaffirmed the $2.0 billion borrowing base.
Aflac reported a third-quarter net loss of $93 million, or $0.17 per diluted share, versus earnings of $1.6 billion a year earlier, mainly due to foreign exchange-related losses as the yen strengthened 12.9% during the quarter. Adjusted earnings per diluted share rose 17.4% to $2.16, and the company said Virgil R. Miller will become President effective January 1, 2025, while Daniel P. Amos steps down from that title but stays Chairman and CEO.
Q3 net loss of $93 million ($0.17 per diluted share) vs. earnings of $1.6 billion ($2.64 per share) a year ago; net investment losses of $1.4 billion
Q3 adjusted earnings of $1.2 billion, up 10.6%; adjusted EPS $2.16, up 17.4%
Virgil R. Miller appointed President effective January 1, 2025, with base salary of $825,000 and target bonus of 150% of salary
Board declared fourth quarter dividend of $0.50 per share; $500 million spent on share repurchases in Q3
Employers Holdings reported third-quarter 2024 results, with diluted earnings per share of $1.21 versus $0.54 a year earlier and adjusted diluted EPS of $0.81 versus $0.68. Gross premiums written fell 8% to $181.2 million, while net premiums earned rose 1% to $186.6 million. The board also declared a regular quarterly dividend of $0.30 per share, payable November 27, 2024.
Diluted EPS $1.21 vs. $0.54; adjusted diluted EPS $0.81 vs. $0.68 in Q3 2023
Gross premiums written $181.2 million, down 8%; net premiums earned $186.6 million, up 1%
GAAP combined ratio 100.4% vs. 100.3%; combined ratio excluding LPT 101.2% vs. 101.3%
Quarterly dividend of $0.30 per share payable November 27, 2024 to holders of record as of November 13, 2024
Bio-Rad reported third-quarter 2024 net sales of $649.7 million, up 2.8% from a year earlier, led by Clinical Diagnostics. GAAP net income rose to $653.2 million, mainly from a gain on its Sartorius AG investment, while non-GAAP net income fell to $56.4 million and non-GAAP operating income declined to $73.3 million. The company kept its full-year non-GAAP revenue decline outlook of 2.5 to 4.0 percent and set a non-GAAP operating margin range of 12.75 to 13.25 percent that now includes a one-time acquired in-process R&D expense.
Net sales $649.7 million vs $632.1 million a year earlier; Clinical Diagnostics up 5.6% to $388.8 million, Life Science down 1.0% to $260.9 million
GAAP net income $653.2 million, or $23.34 per diluted share, vs $106.3 million, or $3.64, in Q3 2023
Non-GAAP net income $56.4 million, or $2.01 per diluted share, vs $68.1 million, or $2.33; non-GAAP operating income $73.3 million vs $81.6 million
Full-year 2024: non-GAAP revenue expected to decline about 2.5% to 4.0% on a currency-neutral basis; non-GAAP operating margin 12.75% to 13.25%
Envista reported third-quarter 2024 sales of $601.0 million, down from $631.3 million a year earlier, with core sales down 5.3%. GAAP net income fell to $8.2 million, or $0.05 per diluted share, from $21.5 million, and adjusted diluted EPS fell to $0.12 from $0.43. The company kept its full-year 2024 outlook of core sales growth of -1% to -4% and adjusted EBITDA margins of 10% to 12%, but nine-month GAAP results include a $1.15 billion goodwill and intangible asset impairment.
Q3 2024 sales $601.0 million vs. $631.3 million in Q3 2023; core sales declined 5.3%.
Q3 GAAP net income $8.2 million ($0.05 per diluted share) vs. $21.5 million ($0.12) a year earlier.
Adjusted EBITDA $54.9 million vs. $123.5 million; adjusted diluted EPS $0.12 vs. $0.43.
2024 guidance unchanged: core sales growth of -1% to -4% and adjusted EBITDA margins of 10% to 12%; company expects a return to growth in Q4.
Mid-America Apartment Communities reported third-quarter 2024 diluted earnings per share of $0.98, up from $0.94 a year earlier, while Core FFO per diluted share fell to $2.21 from $2.29. The company raised the midpoint of its full-year 2024 EPS guidance to $4.53 from $4.51, kept the Core FFO midpoint at $8.88, and lowered its same store revenue growth midpoint to 0.50% from 0.65%, so shareholders see mixed signals in the results and outlook.
Q3 2024 diluted EPS was $0.98 versus $0.94 in Q3 2023; nine-month EPS was $3.07 versus $3.34.
Q3 2024 Core FFO per diluted share was $2.21 versus $2.29; the full-year Core FFO range narrowed to $8.80 to $8.96 from $8.74 to $9.02.
Same Store NOI fell 1.7% in Q3 2024, and Same Store lease pricing for new leases declined 5.4%.
Rental and other property revenues were $551.1 million in Q3 2024 versus $542.0 million a year earlier.
Green Brick Partners reported record third-quarter 2024 results, with total revenues of $523.7 million, up 25.0%, and diluted EPS of $1.98, up 26.9% from a year earlier. Management said it expects record revenue for fiscal 2024, and the company also announced a quarterly dividend of $0.35938 per depositary share on its Series A Preferred Stock.
Total revenues of $523.7 million, up 25.0%; net income attributable to Green Brick of $89.1 million, up 23.5%.
Diluted EPS of $1.98 versus $1.56 a year earlier; nine-month diluted EPS of $6.12, up 34.5%.
Homebuilding gross margin of 32.7%, down from 33.3% a year earlier (down 60 basis points).
Preferred dividend of $0.35938 per depositary share; record date December 1, 2024, payment date December 13, 2024.
Allstate reported third-quarter 2024 net income applicable to common shareholders of $1.2 billion, or $4.33 per diluted share, compared with a net loss of $41 million a year earlier. Revenues rose 14.7% to $16.6 billion, and adjusted net income was $1.0 billion, or $3.91 per diluted share, as Property-Liability underwriting improved despite higher catastrophe losses.
Net income applicable to common shareholders was $1,161 million ($4.33 per diluted share) versus a net loss of $41 million ($0.16 per share) in Q3 2023.
Total revenues were $16.6 billion, up 14.7%; the Property-Liability recorded combined ratio improved to 96.4 from 103.4.
Catastrophe losses were $1.7 billion, up 44.2%, including Hurricanes Beryl, Debby, Francine and Helene.
Sale of the Employer Voluntary Benefits business to StanCorp Financial for $2 billion was finalized, with divestiture expected in the first half of 2025.
Four Corners Property Trust (FCPT) reported third quarter 2024 results. Total revenues rose to $66.8 million from $64.8 million, and net income attributable to common shareholders rose to $25.6 million from $24.2 million, though diluted earnings per share stayed at $0.27. Per-share FFO was flat at $0.41, while AFFO per share rose $0.01 to $0.43, and the company declared a $0.345 quarterly dividend.
Total revenues were $66.8 million for the quarter, up from $64.8 million a year earlier.
Net income attributable to common shareholders was $25.6 million, or $0.27 per diluted share, compared with $24.2 million, or $0.27 per diluted share.
AFFO per diluted share was $0.43, up $0.01 from the prior-year quarter; NAREIT FFO per diluted share was flat at $0.41.
FCPT acquired 21 properties for $70.7 million in the quarter and sold 8,186,571 shares through its at-the-market program from July 1 through October 30, 2024, for anticipated gross proceeds of $224.1 million.
EPR Properties reported third quarter 2024 total revenue of $180.5 million, down from $189.4 million a year earlier, and diluted net income per share of $0.53 versus $0.66. The company narrowed its 2024 FFOAA per share guidance to $4.80 to $4.92 from $4.76 to $4.96, but lowered its net income per share guidance to $2.40 to $2.52 from $2.58 to $2.78, and recorded $12.1 million in joint venture impairment charges tied to hurricane damage.
Q3 2024 total revenue $180.5 million vs $189.4 million in Q3 2023; diluted net income per share $0.53 vs $0.66
Q3 2024 FFOAA per diluted share $1.30 vs $1.47; AFFO per diluted share $1.29 vs $1.47
2024 net income per diluted share guidance cut to $2.40 to $2.52 from $2.58 to $2.78
Impairment charges of $12.1 million on two St. Pete Beach lodging joint ventures damaged by Hurricanes Helene and Milton
New York Mortgage Trust (Nasdaq: NYMT) reported third-quarter 2024 net income attributable to common stockholders of $32.4 million, or $0.36 per share, compared with a loss of $94.8 million, or $1.04 per share, in the same quarter of 2023, and a loss of $26.0 million in the second quarter of 2024. Book value per common share fell to $9.83 from $11.26 a year earlier, and the common dividend was $0.20, down from $0.30. The filing names New York Mortgage Trust, not Adamas Trust as stated in the request.
Net income attributable to common stockholders was $32.4 million, or $0.36 per share, for the quarter ended September 30, 2024, versus a loss of $94.8 million, or $1.04 per share, a year earlier.
Net interest income rose to $20.2 million from $16.8 million in the third quarter of 2023.
Book value per common share was $9.83 at September 30, 2024, down from $11.26 a year earlier; the common dividend was $0.20 per share, down from $0.30.
Management will hold a conference call on Thursday, October 31, 2024, at 9:00 a.m. Eastern Time.
Penumbra reported third-quarter 2024 revenue of $301.0 million, up 11.1% from a year earlier, and GAAP net income of $29.5 million, versus $9.2 million in the same quarter of 2023. It reiterated full-year 2024 revenue guidance of $1,180.0 million to $1,200.0 million and raised the low end of its U.S. thrombectomy growth outlook to 24% to 25%, from 23% to 25%.
Q3 2024 GAAP diluted EPS was $0.75, versus $0.23 a year earlier; non-GAAP diluted EPS was $0.85, versus $0.67.
Q3 2024 included $5.0 million in one-time expenses tied to the wind down of the Immersive Healthcare business.
Nine-month 2024 GAAP net loss was $19.7 million, including a $76.9 million impairment charge, and the company kept its 2024 revenue guidance unchanged.
Hawkins reported fiscal 2025 second-quarter results for the quarter ended September 29, 2024, with sales up 4% to $247.0 million and net income of $24.1 million. Growth came from the Water Treatment segment, which rose 23% on acquisitions, while Industrial and Health and Nutrition sales declined. The company described the quarter as a record for revenue, gross profit, operating income, net income and diluted EPS.
Diluted EPS was $1.16, up $0.06, or 5%, from $1.10 a year earlier.
Water Treatment sales rose $23.6 million, or 23%, to $124.5 million; Industrial sales fell 9% to $89.9 million.
Operating income was $33.7 million; adjusted EBITDA, a non-GAAP measure, was $46.3 million, up 12%.
The company paid down $30 million on its line of credit in the quarter and reported a leverage ratio of 0.65x.
Broadstone Net Lease reported third quarter 2024 revenue of $108.4 million, down from $109.5 million a year earlier but up from $105.9 million in the prior quarter. Diluted earnings per share were $0.19, compared with $0.26 a year earlier, while AFFO was $70.2 million, or $0.35 per share. The company kept its 2024 AFFO per share guidance of $1.41 to $1.43 unchanged but lowered its expected real estate investment range to $400 million to $600 million.
Q3 2024 revenue $108.4 million, versus $109.5 million in Q3 2023 and $105.9 million in Q2 2024
Net income $37.3 million, or $0.19 per diluted share, versus $0.26 in Q3 2023
2024 AFFO per share guidance of $1.41 to $1.43 unchanged; investment assumption cut to $400 million to $600 million from $400 million to $700 million
Quarterly dividend of $0.29 declared on October 24, 2024, payable on or before January 15, 2025
Floor & Decor reported third-quarter fiscal 2024 results for the quarter ended September 26, 2024. Net sales rose 0.9% to $1.1 billion, but comparable store sales fell 6.4%, operating income fell 21.8%, and diluted EPS fell 21.3% to $0.48. The company also updated its fiscal 2024 outlook, now forecasting diluted EPS of approximately $1.65 to $1.75 and comparable store sales of approximately (8.5)% to (7.5)%.
Net sales of $1,117.9 million rose 0.9% from $1,107.8 million a year earlier, while comparable store sales decreased 6.4%.
Operating income of $66.3 million fell 21.8%, and net income of $51.7 million fell 21.6%.
Diluted EPS of $0.48 compared with $0.61 in the third quarter of fiscal 2023.
Updated fiscal 2024 outlook: diluted EPS of approximately $1.65 to $1.75 and adjusted EBITDA of approximately $490 million to $500 million.
Coca-Cola Consolidated reported third-quarter 2024 net sales of $1.8 billion, up 3.1% from a year earlier, and net income of $115.6 million, up from $92.1 million. Diluted earnings per common share were $13.18, compared with $9.80, and operating margin rose to 12.9% from 12.6%, so headline profit measures improved for shareholders, though standard physical case volume fell 2.1%.
Q3 net sales rose 3.1% to $1,765.7 million; standard physical case volume fell 2.1% to 89.9 million cases
Q3 income from operations was $227.1 million, up 5.0%; gross margin improved 90 basis points to 39.5%
Q3 diluted net income per Common Stock share was $13.18, versus $9.80 in Q3 2023
First nine months net income was $454.2 million; full-year 2024 capital expenditures are expected to total about $350 million
Clorox reported first-quarter fiscal 2025 results for the period ended September 30, 2024, with net sales up 27% to $1.76 billion and diluted EPS of $0.80, compared with $0.17 a year earlier. The company raised its fiscal 2025 gross margin and adjusted EPS outlook while keeping its net sales outlook of flat to down 2%, and the results include a one-time after-tax charge of $118 million from the sale of its Better Health VMS business.
Net sales rose 27% to $1.76 billion, driven largely by higher volume as the company lapped the August 2023 cyberattack; organic sales rose 31%.
Diluted EPS was $0.80 versus $0.17 a year earlier, including a 94 cent charge from the Better Health VMS sale; adjusted EPS was $1.86 versus $0.49.
Fiscal 2025 adjusted EPS outlook was raised to $6.65 to $6.90 from $6.55 to $6.80, and gross margin is now expected to rise about 100 to 150 basis points.
Year-to-date net cash provided by operations was $221 million, compared with $20 million a year earlier.
Twilio reported third-quarter 2024 revenue of $1.134 billion, up 10% year-over-year, and GAAP loss from operations narrowed to $5 million from $109 million a year earlier. The company raised its full-year 2024 non-GAAP income from operations guidance to $700 million-$710 million, up from $650 million-$675 million, which signals improved expected profitability for shareholders.
Q3 2024 revenue of $1.134 billion, up 10% year-over-year; GAAP net loss per share of $0.06 versus $0.78 a year earlier
Non-GAAP income from operations of $182.4 million, compared with $136.4 million in Q3 2023
Full-year 2024 non-GAAP income from operations guidance raised to $700 million-$710 million; organic revenue growth guidance raised to 7.5%-8%
Q4 2024 revenue guidance of $1.150 billion-$1.160 billion; company has completed over $2.7 billion of share repurchases in aggregate
SPX Technologies reported third-quarter 2024 revenue of $483.7 million, up from $448.7 million a year earlier, and diluted EPS from continuing operations of $1.08, up from $0.76. Adjusted EPS was $1.39, compared with $1.06. The company kept its full-year adjusted EBITDA and adjusted EPS guidance but narrowed its full-year revenue range to $1.97-$2.00 billion from $1.97-$2.02 billion.
Q3 2024 revenue $483.7 million vs. $448.7 million in Q3 2023; HVAC revenue rose 15.9% while Detection & Measurement fell 7.0%
Diluted EPS from continuing operations $1.08 vs. $0.76; adjusted EPS $1.39 vs. $1.06 (non-GAAP)
Full-year 2024 adjusted EBITDA guidance held at $410-$430 million; adjusted EPS guidance held at $5.45-$5.60
Full-year revenue guidance narrowed to $1.97-$2.00 billion, from $1.97-$2.02 billion; Form 10-Q due on or before November 7, 2024
Carvana reported third-quarter 2024 results, with revenue up 32% to $3.655 billion and retail units sold up 34% to 108,651. Net income was $148 million, a 4.0% margin, down from a year earlier because Q3 2023 included a roughly $878 million one-time debt extinguishment gain, while operating income rose to $337 million. The company expects Q4 2024 adjusted EBITDA significantly above the high end of its previously communicated $1.0 to $1.2 billion full-year range, if the environment remains stable.
Q3 2024 revenue was $3.655 billion, up 32% year over year, and retail units sold were 108,651, up 34%.
Adjusted EBITDA was $429 million, an 11.7% margin, and GAAP operating income was $337 million, up $289 million.
Net income was $148 million, down from a 26.7% margin in Q3 2023, which included an approximately $878 million debt extinguishment gain.
Outlook: Q4 2024 adjusted EBITDA expected significantly above the high end of the $1.0 to $1.2 billion full-year 2024 range.
GoDaddy reported third-quarter 2024 revenue of $1.15 billion, up 7% year over year, with net income of $190.5 million, up 45%. The company raised its full-year 2024 revenue, NEBITDA margin and free cash flow targets, which gives shareholders a higher outlook for the year.
Q3 net income was $190.5 million, up 45% year over year, and diluted EPS was $1.32 versus $0.89 a year earlier.
Q3 NEBITDA was $366.5 million, up 24%, at a 31.9% margin.
Full-year 2024 revenue expectation was raised to $4.545 billion to $4.565 billion.
Year-to-date through October 28, 2024, GoDaddy repurchased 5.2 million shares for $668.1 million.
Matson reported third quarter 2024 net income of $199.1 million, or $5.89 per diluted share, up from $119.9 million, or $3.40 per share, a year earlier. Revenue rose to $962.0 million from $827.5 million, driven mainly by significantly higher China freight rates, and the company raised its full-year 2024 consolidated operating income outlook. For shareholders, the filing shows a sharp year-over-year profit increase and a higher outlook, though the company said freight rates are expected to moderate with normal seasonality.
Q3 2024 operating income was $242.3 million versus $132.1 million in Q3 2023, and EBITDA was $289.4 million versus $175.1 million.
Management expects Q4 2024 consolidated operating income to be meaningfully higher than the $75.3 million achieved in Q4 2023.
The company repurchased approximately 0.4 million shares for $48.1 million in Q3 2024 and declared a $0.34 per share dividend payable December 5, 2024.
Advanced Energy reported third-quarter 2024 revenue of $374.2 million, above the midpoint of its guidance, and up from $364.9 million in the second quarter but down from $410.0 million a year earlier. The company posted a GAAP loss of $0.38 per share, which included a $28.5 million restructuring charge tied to its manufacturing consolidation, and guided fourth-quarter revenue to $392 million plus or minus $20 million.
Q3 2024 revenue was $374.2 million, versus $364.9 million in Q2 2024 and $410.0 million in Q3 2023.
GAAP loss from continuing operations was $14.1 million, or $0.38 per share, including a $28.5 million restructuring charge; Q3 2023 GAAP net income was $33.7 million, or $0.89 per diluted share.
Non-GAAP EPS was $0.98, compared with $0.85 in Q2 2024 and $1.28 in Q3 2023.
Q4 2024 guidance: revenue of $392 million plus or minus $20 million and non-GAAP EPS of $1.08 plus or minus $0.25.
PriceSmart reported fourth-quarter fiscal 2024 revenue up 9.6% to $1.23 billion and net income up 89.0% to $29.1 million, or $0.94 per diluted share, compared with $0.49 a year earlier, when results included a $9.2 million minimum tax settlement and a $5.7 million asset impairment charge. For full fiscal 2024, net income rose 27.2% to $138.9 million, or $4.57 per diluted share. The company also plans a seventh warehouse club in Guatemala, which would bring its total to 56 clubs once open in summer 2025.
Q4 fiscal 2024 total revenues rose 9.6% to $1.23 billion; net merchandise sales rose 9.5% to $1.19 billion
Q4 fiscal 2024 diluted EPS was $0.94, versus $0.49 in the prior-year quarter
Fiscal 2024 total revenues rose 11.4% to $4.91 billion; operating income was $220.9 million
Guatemala club in Quetzaltenango expected to open in summer 2025; conference call on October 31, 2024 at 12:00 p.m. Eastern
Corcept reported third-quarter 2024 revenue of $182.5 million, up 48% from a year earlier, and net income of $47.2 million. The company raised its full-year 2024 revenue guidance to $675 million-$700 million, from $640 million-$670 million, and said Phase 3 GRADIENT trial results support its planned new drug application for relacorilant in Cushing's syndrome.
Q3 2024 revenue $182.5 million vs. $123.6 million in Q3 2023
Diluted net income per share $0.41 vs. $0.28 a year earlier
2024 revenue guidance raised to $675 million-$700 million from $640 million-$670 million
Relacorilant NDA submission for Cushing's syndrome expected this quarter; cash and investments $547.6 million at September 30, 2024
Nextracker reported fiscal second-quarter 2025 results for the period ended September 27, 2024, with revenue of $636 million, up from $573 million a year earlier. It reaffirmed its FY25 revenue outlook of $2.8 to $2.9 billion and raised its FY25 profit outlook, which signals higher expected earnings for the year for shareholders.
Q2 FY25 revenue was $636 million versus $573 million in Q2 FY24; Q1 FY25 revenue was $720 million.
GAAP net income was $117 million, and GAAP diluted EPS was $0.79, compared with $0.55 a year earlier.
FY25 adjusted EBITDA outlook raised to $625 to $665 million from $600 to $650 million; adjusted diluted EPS outlook raised to $3.10 to $3.30 from $2.89 to $3.09.
Q2 results include about $51 million of IRA 45X tax credit vendor rebates, which were not in the prior-year quarter.
Paylocity reported fiscal first-quarter 2025 results for the three months ended September 30, 2024, with total revenue up 14% and GAAP net income up to $49.6 million, or $0.88 per diluted share, from $34.5 million, or $0.61, a year earlier. The company also issued fiscal 2025 guidance, expecting total revenue of $1.535 billion to $1.550 billion, and said it completed its Airbase acquisition on October 1, 2024, funded in part by $325.0 million borrowed under its credit facility.
Total revenue was $363.0 million, up 14% from the prior-year quarter; recurring and other revenue was $333.1 million, also up 14%.
GAAP operating income rose to $64.1 million from $41.2 million; non-GAAP operating income was $104.9 million.
Fiscal 2025 guidance: total revenue of $1.535 billion to $1.550 billion, about 10% growth; Adjusted EBITDA of $530.0 million to $540.0 million.
Long-term debt was $325.0 million at quarter end, borrowed to fund the Airbase acquisition.
eBay reported third quarter 2024 revenue of $2.6 billion, up 3%, and non-GAAP earnings of $1.19 per diluted share, up 16%. GAAP earnings fell to $1.29 per share from $2.46, and the year-earlier quarter included a $1.2 billion gain on equity investments and warrant, which did not recur at that size. The company also gave fourth quarter and full-year 2024 guidance and declared a $0.27 per share dividend.
Revenue was $2,576 million, up 3%; gross merchandise volume was $18.3 billion, up 2%.
GAAP net income was $636 million ($1.29 per diluted share), down from $1,306 million ($2.46 per share) a year earlier.
Non-GAAP EPS was $1.19, up from $1.03; the company repurchased $750 million of stock and paid $131 million in dividends.
Full-year 2024 guidance: revenue of $10.23 to $10.29 billion and non-GAAP EPS of $4.80 to $4.85; the $0.27 dividend is payable December 13, 2024.
Independence Realty Trust reported third quarter 2024 net income available to common shares of $12.4 million, up from $3.9 million a year earlier, with diluted EPS of $0.05 versus $0.02. Core FFO per share (CFFO) fell to $0.29 from $0.30, which the company attributed to asset sales, and it lowered the midpoint of its 2024 EPS guidance by $0.07 to $0.30 while raising its CFFO per share guidance by $0.01, so shareholders face a mixed picture.
Q3 2024 net income available to common shares was $12.4 million versus $3.9 million in Q3 2023; diluted EPS was $0.05 versus $0.02.
Q3 2024 CFFO was $66.8 million ($0.29 per share) versus $69.0 million ($0.30); Adjusted EBITDA was $87.5 million versus $94.4 million.
S&P Global Ratings assigned a 'BBB' issuer credit rating with a stable outlook, announced October 30, 2024.
Ryan Specialty reported third quarter 2024 results, with total revenue up 20.5% year-over-year to $604.7 million and net income of $28.6 million, or $0.09 per diluted share, compared with a net loss attributable to the company in the prior-year period. The company kept its full-year 2024 outlook for organic revenue growth and Adjusted EBITDAC margin, and its board declared a regular quarterly dividend of $0.11 per share.
Total revenue grew 20.5% to $604.7 million; organic revenue growth slowed to 11.8% from 15.0% a year earlier
Net income rose 82.4% to $28.6 million; Adjusted diluted EPS rose 28.1% to $0.41
Full-year 2024 guidance maintained: organic revenue growth of 13.0% to 14.0% and Adjusted EBITDAC margin of 32.0% to 32.5%
Quarterly dividend of $0.11 per share payable November 26, 2024, to holders of record as of November 12, 2024
DoorDash reported third-quarter 2024 results for the quarter ended September 30, 2024, with revenue up 25% year-over-year to $2.7 billion and GAAP net income attributable to common stockholders of $162 million, compared with a $73 million loss a year earlier. The company said this was its first quarter of positive GAAP net income as a public company. It also gave fourth-quarter 2024 guidance of $20.6 billion to $21.0 billion in Marketplace GOV and $525 million to $575 million in Adjusted EBITDA.
Q3 2024 revenue rose 25% year-over-year to $2.7 billion; Total Orders rose 18% to 643 million.
GAAP net income attributable to DoorDash common stockholders was $162 million, versus a $(73) million loss in Q3 2023.
Adjusted EBITDA reached $533 million, up 55% from $344 million a year earlier.
Q4 2024 outlook: Marketplace GOV of $20.6 billion to $21.0 billion and Adjusted EBITDA of $525 million to $575 million; the company repurchased $224 million of stock through October 29, 2024, with about $876 million left under its authoriza
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