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).
Ingersoll Rand reported third-quarter 2024 revenue of $1,861 million, up 7%, and adjusted diluted EPS of $0.84, up from $0.77 a year earlier. The company lowered its full-year 2024 revenue growth guidance to 5% to 7% from 6% to 8% and narrowed its adjusted EBITDA range, so stronger quarterly profit comes alongside a weaker sales outlook for shareholders.
Q3 revenue of $1,861 million, up 7%, but organic revenue declined 2.4%; acquisitions added 8.9 points
Adjusted diluted EPS of $0.84 vs. $0.77 a year earlier; GAAP diluted EPS of $0.54 vs. $0.51
Full-year revenue growth guidance cut to 5% to 7% from 6% to 8%; adjusted EBITDA guidance narrowed to $2,010 million to $2,040 million from $2,010 million to $2,060 million
Net debt to adjusted EBITDA rose to 1.7x, up 0.8x, driven mainly by the ILC Dover acquisition; $71 million returned to shareholders in Q3
Tennant Company reported third quarter 2024 net sales of $315.8 million, up 3.6% from a year earlier, and adjusted diluted EPS of $1.39, up 3.7%. GAAP net income fell 9.2% to $20.8 million and GAAP diluted EPS fell 9.9% to $1.09, while the company affirmed its 2024 guidance, so shareholders see higher sales and adjusted earnings alongside lower reported profit.
Net sales were $315.8 million, up 3.6%, or 2.7% organically; Americas organic sales rose 4.6% while EMEA fell 0.8% and APAC fell 4.3%.
GAAP diluted EPS was $1.09 versus $1.21 a year earlier; adjusted diluted EPS was $1.39 versus $1.34.
Adjusted EBITDA was $47.9 million, up 4.4%, and operating cash flow was $30.7 million, down $23.7 million from the prior-year period.
The company affirmed 2024 guidance, including net sales of $1,280 million to $1,305 million and adjusted diluted EPS of $6.15 to $6.55.
CNO Financial Group reported third-quarter 2024 net income of $9.3 million, or $0.09 per diluted share, down from $167.3 million, or $1.46 per diluted share, a year earlier. The company said non-economic accounting impacts from market volatility reduced 2024 net income, and that net operating income, which excludes those impacts, rose to $119.2 million, or $1.11 per diluted share, from $101.3 million, or $0.88. The company also raised its full-year guidance for earnings and cash flow.
Net income was $9.3 million ($0.09 per diluted share) in 3Q24, compared with $167.3 million ($1.46) in 3Q23; changes in fair value of embedded derivative liabilities and market risk benefits reduced 3Q24 non-operating results by $127.1 mill
Net operating income rose to $119.2 million ($1.11 per diluted share) from $101.3 million ($0.88), up 26% per share.
Full-year guidance was raised for earnings and cash flow.
Annuity collected premiums rose 25%, and the company returned $106.8 million to shareholders in the quarter.
Fox Factory reported third-quarter fiscal 2024 net sales of $359.1 million, up 8.5% from a year earlier, but net income fell to $4.8 million from $35.3 million and diluted EPS dropped to $0.11 from $0.83. The company said revenue and EPS landed at the low end of its guidance range and updated its full-year fiscal 2024 outlook, which now calls for net sales of $1.341 billion to $1.381 billion and adjusted EPS of $1.27 to $1.42.
Q3 net sales were $359.1 million, up from $331.1 million; the Marucci acquisition contributed $49.6 million.
Q3 diluted EPS was $0.11 versus $0.83 a year earlier; adjusted diluted EPS was $0.35 versus $1.05.
For Q4 fiscal 2024, the company expects net sales of $300 million to $340 million and adjusted EPS of $0.25 to $0.40.
InterDigital reported third quarter 2024 results, with revenue of $128.7 million, down 8% from a year earlier, and net income of $34.2 million, down 29%. The company raised the midpoint of its full-year 2024 revenue guidance by $145 million to $860 million, with a range of $855 million to $865 million, and said the outlook covers existing agreements only.
Q3 2024 revenue was $128.7 million versus $140.1 million in Q3 2023; the company said it exceeded the top end of its guidance.
Diluted EPS was $1.14 versus $1.72 a year earlier; non-GAAP EPS was $1.63 versus $2.13.
Full-year 2024 revenue guidance is now $855 million to $865 million, up from $690 million to $740 million previously.
Q4 2024 revenue guidance is $239 million to $249 million, and the company cited a new OPPO Group license agreement and a binding arbitration agreement with Lenovo.
BorgWarner reported third quarter 2024 net sales of $3,449 million, down about 5% from a year earlier, while GAAP earnings rose to $1.08 per diluted share from $0.37. The company raised its full-year 2024 adjusted EPS guidance to $4.15 to $4.30 but cut its full-year net sales guidance to $14.0 billion to $14.2 billion, and it completed $400 million of share repurchases in 2024.
Q3 2024 net sales were $3,449 million, down about 5% from $3,622 million in Q3 2023, with organic sales down 5.1%.
Q3 2024 GAAP EPS was $1.08 versus $0.37 a year earlier; adjusted EPS was $1.09 versus $0.98.
Full-year 2024 adjusted EPS guidance rose to $4.15 to $4.30 from $3.95 to $4.15; net sales guidance was cut to $14.0 billion to $14.2 billion from $14.1 billion to $14.4 billion.
BorgWarner repurchased $300 million of shares in Q3 and $400 million in 2024 to date.
NNN REIT reported third-quarter 2024 revenue of $218.6 million, up from $205.1 million a year earlier, while net earnings fell to $97.9 million, or $0.53 per share, from $106.8 million, or $0.59 per share. Core FFO per share rose to $0.84 from $0.81, and the company narrowed its 2024 Core FFO per share guidance to $3.28 to $3.32 from $3.27 to $3.33, which keeps the midpoint unchanged at $3.30.
Q3 2024 revenue was $218.6 million versus $205.1 million in Q3 2023.
Q3 2024 net earnings were $97.9 million ($0.53 per share) versus $106.8 million ($0.59 per share), with gains on sales of real estate at $7.8 million versus $20.0 million.
Core FFO per share was $0.84 versus $0.81; AFFO per share was $0.84 versus $0.82.
2024 Core FFO per share guidance was narrowed to $3.28 to $3.32 from $3.27 to $3.33.
Insperity reported third-quarter 2024 revenue up 1% to $1.6 billion, but net income fell to $3 million, or $0.07 per diluted share, from $45 million, or $1.16, a year earlier. The company also issued updated 2024 guidance, which projects full-year adjusted EPS of $3.42 to $3.66 and adjusted EBITDA of $262 million to $274 million, with the full-year adjusted EPS range down 34% to 38% from 2023.
Q3 2024 revenue rose 1% to $1.6 billion on a 3% increase in revenue per worksite employee, offset by a 2% decline in paid WSEEs.
Q3 adjusted EPS was $0.39 versus $1.46 a year earlier; gross profit fell 11% to $229 million.
Operating expenses rose 15%, largely tied to the Workday strategic partnership.
Year-to-date net income was $100 million, down 34%, and the company repurchased 551,000 shares for $52 million in the first nine months.
BGC Group reported third-quarter 2024 revenues of $561.1 million, up 16.2% from a year earlier, with growth across asset classes and regions. GAAP income before income taxes fell 17.4% to $19.7 million and GAAP net income for fully diluted shares fell 11.2% to $14.2 million, while post-tax Adjusted Earnings per share rose 36.8% to $0.26. The company also guided fourth-quarter 2024 revenues to $545 million to $595 million and declared a quarterly dividend of $0.02 per share.
Q3 2024 revenues were $561.1 million, up 16.2% from $482.7 million in Q3 2023
GAAP income before income taxes was $19.7 million, down 17.4%; GAAP fully diluted EPS was $0.03, unchanged from a year earlier
Post-tax Adjusted Earnings per share was $0.26, up 36.8%
Q4 2024 revenue guidance is $545 million to $595 million; dividend of $0.02 per share is payable December 4, 2024 to holders of record November 21, 2024
Organon reported third-quarter 2024 revenue of $1.582 billion, up 4% as reported, and GAAP diluted earnings per share of $1.38, compared with $0.23 a year earlier. Non-GAAP adjusted diluted EPS was flat at $0.87, and the company narrowed its full-year revenue guidance while lowering its adjusted EBITDA margin guidance, which shareholders will weigh against the higher reported profit.
Q3 2024 revenue was $1.582 billion, up 4% as reported and up 5% excluding foreign currency; GAAP net income was $359 million, helped by a $210 million release of a valuation allowance against a Swiss tax asset.
Non-GAAP adjusted diluted EPS was $0.87, flat year over year, after $51 million of acquired IPR&D and milestone expense, or $0.16 per share.
Full-year 2024 revenue guidance narrowed to $6.375 billion to $6.425 billion, with the midpoint raised by $50 million.
Adjusted EBITDA margin guidance was revised to 30.0% to 31.0%, down from 31.0% to 33.0%, and the board declared a quarterly dividend of $0.28 per share payable December 12, 2024.
Belden reported fiscal third quarter 2024 revenue of $655 million, up 4% year over year but down 2% organically, with growth driven mainly by the Precision Optical Technologies acquisition. GAAP earnings per diluted share fell 24% to $1.30, and adjusted EPS fell 4% to $1.70, while the company gave fourth quarter revenue guidance of $645 million to $660 million.
Revenue of $655 million, up 4% year over year and down 2% organically; Automation Solutions down 3% and Smart Infrastructure Solutions down 1% organically.
GAAP EPS of $1.30 versus $1.70 a year earlier; adjusted EPS of $1.70 versus $1.78. The prior-year quarter included a $12 million one-time pre-tax gain from an asset sale.
Fourth quarter 2024 guidance: revenue of $645 million to $660 million, GAAP EPS of $1.05 to $1.15, and adjusted EPS of $1.62 to $1.72.
Share repurchases of $20 million in the quarter and $115 million year to date through October 29, 2024.
APi Group reported third-quarter 2024 net revenues of $1.8 billion, up 2.4% reported but down 0.2% organically, and net income of $69 million, up 27.8%. The company lowered its 2024 net revenue guidance to approximately $7,000 million from $7,150 to $7,350 million, while narrowing adjusted EBITDA guidance to $890 to $900 million and raising its free cash flow conversion target to at or above 75%, so shareholders face a lower revenue outlook even as profit measures improved.
Q3 net revenues $1,826 million, up 2.4%; organic net revenue change was down 0.2%.
Q3 net income $69 million and diluted EPS $0.23, versus $54 million and $0.15 a year earlier; adjusted diluted EPS $0.51 versus $0.48.
2024 net revenue guidance cut to approximately $7,000 million from $7,150 to $7,350 million; adjusted EBITDA guidance set at $890 to $900 million, down from $885 to $915 million.
Specialty Services net revenues fell 13.4% to $493 million, with organic revenue down 7.7%.
BrightSphere Investment Group, parent of Acadian Asset Management, reported third-quarter 2024 results on October 31, 2024. Revenue rose 14.7%, but U.S. GAAP net income attributable to controlling interests fell 13.8%, while non-GAAP ENI earnings per share rose to $0.59 from $0.45. The filing names BrightSphere, not Acadian Asset Management Inc. or ticker AAMI, and lists the stock as NYSE: BSIG.
Total revenue of $123.1 million, up 14.7% from $107.3 million in Q3 2023
U.S. GAAP net income attributable to controlling interests of $16.9 million, down from $19.6 million; diluted EPS $0.45 vs. $0.46
ENI diluted EPS of $0.59 vs. $0.45 in Q3 2023; assets under management of $120.3 billion at September 30, 2024
Board approved a $0.01 per share interim dividend, payable December 27, 2024 to holders of record on December 13, 2024
PHINIA reported third-quarter 2024 results with net sales down 6.4% from a year earlier, to $839 million, as Fuel Systems sales fell in Europe and China. Net earnings were $31 million, or $0.70 per diluted share, compared with a loss of $1 million a year earlier, and the company revised its full-year 2024 guidance citing softer end vehicle markets.
Q3 net sales $839 million, down 6.4% from $896 million; adjusted sales $838 million, down 3.7%
Net earnings $31 million ($0.70 per diluted share) vs. a loss of $1 million ($0.02 per share) in Q3 2023; adjusted EPS $1.17 vs. $0.69
Full-year 2024 guidance now calls for net sales of $3.36 billion to $3.41 billion and adjusted EBITDA of $470 million to $490 million
Board raised share repurchase authorization by $250 million to $400 million; $450 million of 6.625% senior notes due 2032 issued
Comcast reported third-quarter 2024 results on October 31, 2024. Revenue rose 6.5% to $32.07 billion, helped by $1.9 billion of incremental Paris Olympics revenue, while net income attributable to Comcast fell 10.3% to $3.63 billion and diluted EPS fell 4.2% to $0.94. Adjusted EPS rose 3.3% to $1.12, but free cash flow fell 15.5% to $3.4 billion.
Revenue rose 6.5% to $32.07 billion; the Paris Olympics contributed $1.9 billion of incremental Media revenue.
Diluted EPS fell 4.2% to $0.94; adjusted EPS rose 3.3% to $1.12 (a non-GAAP measure).
Free cash flow fell 15.5% to $3.4 billion; the company returned $3.2 billion to shareholders, including $2.0 billion in share repurchases.
Connectivity & Platforms customer relationships fell by 29,000 to 51.7 million, including the impact of the end of the ACP program.
Aptiv reported third quarter 2024 revenue of $4.9 billion, down 5% from the prior year, and U.S. GAAP diluted earnings of $1.48 per share, down from $5.76 a year earlier, which included a large tax benefit. Adjusted earnings per share rose to $1.83 from $1.30, and the company said it revised its full-year 2024 outlook, citing customer schedule reductions and weaker automotive production volumes.
Q3 2024 revenue was $4.9 billion, down 5%; adjusted for currency and commodities, down 6%
Q3 U.S. GAAP net income was $363 million versus $1,629 million a year earlier; adjusted EPS was $1.83 versus $1.30
Full-year 2024 guidance includes U.S. GAAP diluted EPS of $6.80 to $7.10 and adjusted EPS of $6.00 to $6.30
Q3 share repurchases totaled $2.32 billion, with $2.52 billion remaining under the $5.0 billion authorization
Vontier reported third-quarter 2024 sales of $750.0 million, down 2.0% from a year earlier, mainly due to divested businesses, while core sales rose 2.8%. GAAP diluted EPS rose to $0.60 from $0.58, but adjusted diluted EPS was flat at $0.73 and operating profit fell 7.8%. The company narrowed its full-year 2024 adjusted EPS outlook to a midpoint of about $2.90 and guided to about $0.79 for the fourth quarter.
Q3 2024 sales were $750.0 million, down 2.0%; core sales increased 2.8%
GAAP diluted EPS was $0.60 versus $0.58 a year earlier; adjusted diluted EPS was $0.73, unchanged
Operating profit was $131.5 million, down 7.8%; operating margin fell about 110 basis points to 17.5%
Full-year 2024 adjusted diluted EPS narrowed to a midpoint of about $2.90; Q4 2024 guidance is about $0.79
Lincoln National Corporation reported a third quarter 2024 net loss available to common stockholders of $562 million, or $3.29 per diluted share, compared with net income of $819 million a year earlier. Adjusted operating income rose to $358 million, or $2.06 per diluted share, from $50 million, or $0.29, in the prior-year quarter, but the GAAP loss reflects a $446 million pre-tax charge tied to the Fortitude Re reinsurance transaction and a $381 million pre-tax charge from market risk benefits.
GAAP net loss available to common stockholders was $(562) million, or $(3.29) per diluted share, versus $819 million, or $4.79 per diluted share, in Q3 2023.
Adjusted operating income available to common stockholders was $358 million, or $2.06 per diluted share, versus $50 million, or $0.29, a year earlier.
A $(446) million pre-tax net loss, or $(2.61) per diluted share, was primarily driven by a change in the fair value of an embedded derivative related to the Fortitude Re reinsurance transaction.
Estimated RBC ratio was in excess of 420% at quarter-end, compared with 375-385% at September 30, 2023.
WTW reported third-quarter 2024 revenue up 6% to $2.29 billion and adjusted diluted EPS up 31% to $2.93. The company also posted a net loss of $1.67 billion, or $16.44 per diluted share, driven by over $1.0 billion of non-cash losses and impairment charges tied to the pending sale of TRANZACT. Full-year 2024 targets were restated as previously provided, so guidance was not changed.
Revenue rose 6% to $2.29 billion for the quarter, with organic growth of 6%.
Net loss of $1.67 billion, or $16.44 per diluted share, includes pre-tax non-cash losses and impairment charges of over $1.0 billion each tied to the pending TRANZACT sale.
Adjusted diluted EPS was $2.93, up 31%, and adjusted operating margin was 18.1%, up 190 basis points.
Full-year 2024 targets include adjusted diluted EPS of $16.00 to $17.00 and revenue of $9.9 billion or greater; WTW will hold an Investor Day on December 3, 2024.
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.
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
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
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.
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
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
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
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%
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.
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.
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.
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.
FormFactor reported record third-quarter fiscal 2024 revenue of $207.9 million, up 21.2% from a year earlier but up 5.3% from the prior quarter, with GAAP net income of $18.7 million ($0.24 per diluted share). For the fourth quarter ending December 28, 2024, the company forecast revenue of $190 million, plus or minus $5 million, citing reduced Foundry & Logic probe-card demand partly offset by DRAM strength, so shareholders face a guided sequential revenue decline.
Q3 revenue of $207.9 million was a company record, up 5.3% from $197.5 million in Q2 and 21.2% from $171.6 million in Q3 2023.
GAAP net income was $18.7 million, or $0.24 per diluted share, down from $19.4 million ($0.25) in Q2 and up from $4.4 million ($0.06) in Q3 2023.
Non-GAAP EPS was $0.35, unchanged from Q2 and up from $0.22 in Q3 2023; GAAP gross margin was 40.7%, down from 44.0% in Q2.
Q4 outlook calls for revenue of $190 million, plus or minus $5 million, and non-GAAP EPS of $0.29, plus or minus $0.04.
Magnolia Oil & Gas reported third quarter 2024 results on October 30, 2024. Total revenue rose from $315.7 million a year earlier to $333.1 million, and production grew 10%, but net income fell 10% and diluted earnings per share fell from $0.54 to $0.52, so the headline profit measures moved in opposite directions. The company also said fourth quarter capital spending is expected to be about $125 million, bringing 2024 capital spending to about $470 million.
Total revenue was $333.1 million, up from $315.7 million in the third quarter of 2023.
Net income attributable to Class A common stock was $99.8 million, or $0.52 per diluted share, versus $0.54 a year earlier; total net income fell 10% to $105.9 million.
Adjusted EBITDAX was $243.6 million, up 2% from $239.0 million; free cash flow was $126.1 million.
Fourth quarter production is expected to be about 93 Mboe/d, and 2024 capital spending is expected to be about $470 million, within the $450 million to $480 million budget range.
Standard Motor Products reported third-quarter 2024 net sales of $399.3 million, up 3.3%, and adjusted diluted earnings per share of $1.28, up from $1.11. GAAP net earnings per diluted share fell to $0.17 from $0.30 after a $22.8 million loss from a discontinued operation, and the company left its full-year 2024 outlook unchanged while expecting the Nissens Automotive acquisition to close soon.
Q3 net sales $399.3 million vs. $386.4 million a year earlier; the company said all three operating segments increased.
Diluted EPS from continuing operations $1.20 vs. $1.12; adjusted diluted EPS $1.28 vs. $1.11.
Loss from discontinued operation of $22.8 million reduced GAAP net diluted EPS to $0.17 from $0.30.
Full-year 2024 guidance unchanged; quarterly dividend of 29 cents per share payable December 2, 2024.
IDEX reported third-quarter 2024 sales of $798 million, up 1% but flat on an organic basis, while reported diluted EPS fell 43% to $1.57 after a prior-year gain on the Micropump sale. The company lowered its full-year 2024 GAAP diluted EPS guidance to $6.65-$6.70 from $6.85-$6.95, and raised its adjusted diluted EPS guidance to $7.85-$7.90 from $7.80-$7.90, which matters to shareholders because the two measures moved in opposite directions.
Q3 2024 net sales of $798.2 million, up 1% reported and flat organically; adjusted diluted EPS of $1.90, down 10%
Reported diluted EPS of $1.57, down from $2.75, mainly due to the absence of the prior-year Micropump divestiture gain
Full-year 2024 GAAP diluted EPS guidance cut to $6.65-$6.70 from $6.85-$6.95; adjusted diluted EPS guidance raised to $7.85-$7.90 from $7.80-$7.90
Mott Corporation acquisition completed September 5, 2024, for cash consideration of $986.2 million, net of cash acquired
ITW reported third quarter 2024 revenue of $4.0 billion, down 1.6%, while GAAP diluted EPS rose to $3.91 from $2.55, helped by a $1.26 gain on the sale of its Wilsonart stake. Excluding the gain, EPS was $2.65, up 4%, and the company raised its full-year 2024 GAAP EPS guidance by $1.33 to $11.63 to $11.73 per share, mainly reflecting the gain and a lower projected tax rate.
Q3 2024 revenue of $3,966 million, down 1.6%; organic growth declined 1.4%
GAAP diluted EPS of $3.91 includes a $1.26 gain from the Wilsonart sale; excluding it, EPS was $2.65, up 4%
2024 GAAP EPS guidance raised to $11.63 to $11.73 from $10.30 to $10.40; revenue guidance of approximately flat maintained
Company repurchased $375 million of its shares in the quarter and plans about $1.5 billion of repurchases for 2024
Extreme Networks reported first quarter fiscal 2025 results for the period ended September 30, 2024, with revenue of $269.2 million, down 23.8% from $353.1 million a year earlier but up 4.9% from the prior quarter. The company posted a GAAP net loss of $10.5 million, or $0.08 per share, compared with GAAP diluted earnings of $0.21 per share a year earlier. It guided to second quarter revenue of $273.0 million to $283.0 million and full fiscal 2025 revenue of $1,117.0 million to $1,137.0 million, which shareholders will weigh against the year-over-year decline.
Revenue was $269.2 million, down from $353.1 million a year earlier and up 4.9% sequentially
GAAP net loss was $10.5 million, or $0.08 per share; non-GAAP diluted EPS was $0.17 versus $0.35 a year earlier
Second quarter fiscal 2025 revenue guidance is $273.0 million to $283.0 million; non-GAAP EPS guidance is $0.16 to $0.20
Full fiscal 2025 revenue guidance is $1,117.0 million to $1,137.0 million
Materion reported third quarter 2024 net sales of $436.7 million, up from $403.1 million a year earlier, while value-added sales fell 2% to $263.8 million. Net income dropped to $22.3 million, or $1.07 per diluted share, from $26.6 million, or $1.27 per share, and the company guided to full year 2024 adjusted earnings of $5.20 to $5.40 per share.
Q3 adjusted EBITDA was a record $56.7 million versus $55.4 million, with a 21.5% margin of value-added sales
Q3 adjusted earnings were $1.41 per diluted share versus $1.51 a year earlier
Full year 2024 adjusted earnings guidance is $5.20 to $5.40 per share
Company announced the sale of a non-core large area targets business for architectural glass in Albuquerque, New Mexico, with the transaction dated October 25, 2024
CDW reported third quarter 2024 net sales of $5.5 billion, down 2.0% from a year earlier, and down 3.5% on an average daily sales basis. GAAP diluted earnings per share rose 1.0% to $2.34, but non-GAAP diluted EPS fell 3.2% to $2.63, and the company's Board declared a quarterly dividend of $0.625 per share.
Net sales were $5,516.6 million versus $5,628.3 million; the Public segment fell 5.1% on an average daily sales basis, with Government down 12.3%
Net income was $316.4 million, flat with the prior year; diluted EPS was $2.34 versus $2.32
Non-GAAP diluted EPS was $2.63 versus $2.72, a decrease of 3.2%
Quarterly dividend of $0.625 per share is payable December 10, 2024 to holders of record on November 25, 2024
Option Care Health reported third-quarter 2024 net revenue of $1,278.5 million, up 17.0%, but net income of $53.9 million was down 4.3% and diluted EPS was flat at $0.31. The company said a supply disruption tied to Hurricane Helene will negatively affect fourth-quarter results, and it updated its full-year 2024 guidance to reflect this.
Net revenue of $1,278.5 million, up 17.0% from $1,093.0 million in Q3 2023
Net income of $53.9 million, or $0.31 diluted EPS, versus $56.3 million, or $0.31, a year earlier; adjusted diluted EPS was $0.41 versus $0.40
Updated 2024 guidance: net revenue of $4.9 billion to $4.95 billion and adjusted EBITDA of $438 million to $443 million, with the Q4 hit from supply disruption for intravenous solution bags
Cash flow from operations was $160.4 million versus $61.0 million in Q3 2023; the company repurchased about $41.9 million of stock in the quarter
Smurfit Westrock reported third-quarter 2024 net sales of $7,671 million, up from $2,915 million a year earlier, after its combination with WestRock closed on July 5, 2024. The company swung to a net loss of $150 million, compared with net income of $229 million, which management attributed mainly to transaction-related expenses and purchase accounting adjustments of approximately $500 million. The company also expects 2024 full-year combined Adjusted EBITDA of approximately $4.7 billion.
Net sales of $7,671 million in Q3 2024 versus $2,915 million in Q3 2023
Net loss of $150 million (negative 2.0% margin) versus net income of $229 million (7.8% margin)
Adjusted EBITDA of $1,265 million (16.5% margin) versus $525 million (18.0% margin)
Expects 2024 full-year combined Adjusted EBITDA of approximately $4.7 billion
Central Pacific Financial Corp. reported third-quarter 2024 net income of $13.3 million, or $0.49 per diluted share, compared with $15.8 million, or $0.58 per share, in the second quarter and $13.1 million, or $0.49 per share, a year earlier. The results include $3.1 million in pre-tax expenses tied to a strategic opportunity that the company says is no longer under active discussion, and net interest income rose 3.7% from the prior quarter. Shareholders also received a $0.26 quarterly dividend declaration.
Net income $13.3 million, or $0.49 diluted EPS, vs $15.8 million, or $0.58, in Q2 2024
$3.1 million in pre-tax expenses related to a strategic opportunity; adjusted net income (non-GAAP) $15.7 million, or $0.58 per share
Net interest margin 3.07%, up 10 basis points from 2.97% in Q2 2024
Total loans $5.34 billion, down $41.0 million from June 30, 2024; quarterly dividend $0.26 per share payable December 16, 2024 to holders of record November 29, 2024
Bio-Techne reported first-quarter fiscal 2025 results for the quarter ended September 30, 2024, with net sales up 5% to $289.5 million and adjusted EPS of $0.42, versus $0.41 a year earlier. GAAP EPS fell to $0.21 from $0.31, and GAAP operating income dropped 28% to $40.0 million, which the company attributes partly to restructuring charges. The company also declared a quarterly dividend of $0.08 per share and reported shareholder votes from its annual meeting.
Net sales rose 5% to $289.5 million; organic growth was 4%.
GAAP EPS was $0.21 versus $0.31 a year earlier; adjusted EPS was $0.42 versus $0.41.
GAAP operating margin was 13.8%, compared with 20.2%; adjusted operating margin was 29.0%, compared with 31.4%.
Quarterly dividend of $0.08 per share is payable November 22, 2024, to shareholders of record on November 11, 2024.
TE Connectivity reported fourth-quarter fiscal 2024 net sales of $4.1 billion, up 1% year over year, and adjusted EPS of a record $1.95, up 10%. GAAP EPS fell 49% to $0.90 because of a one-time tax-related impact of $0.78, and full-year net sales were $15.8 billion. The board also raised the share repurchase authorization by $2.5 billion, and the company expects first-quarter fiscal 2025 sales and adjusted EPS to rise year over year.
Q4 adjusted EPS was a record $1.95, up 10%; GAAP diluted EPS from continuing operations was $0.90, down 49%, including a $0.78 one-time tax-related impact.
Full-year GAAP EPS was a record $10.34 and adjusted EPS was $7.56, up 12%; full-year net sales were $15.8 billion.
Board authorized a $2.5 billion increase in the share repurchase program.
First-quarter fiscal 2025 outlook: net sales of approximately $3.9 billion and adjusted EPS of $1.88; GAAP EPS of $1.64.
Mirion reported third-quarter 2024 revenue of $206.8 million, up 8.2% from a year earlier, while its GAAP net loss widened to $14.0 million from $12.9 million. The company raised the low end of its full-year 2024 revenue growth guidance to 6% to 7% and cut its adjusted free cash flow range top end to $75 million, while keeping adjusted EBITDA and adjusted EPS guidance unchanged. For shareholders, sales and adjusted EBITDA grew, but GAAP losses increased.
Third-quarter revenue was $206.8 million, up from $191.2 million in the same period of 2023.
GAAP net loss was $14.0 million, or $0.07 per share, compared with a net loss of $12.9 million, or $0.06 per share, a year earlier.
Adjusted EBITDA rose 17.8% to $45.7 million, with an adjusted EBITDA margin of 22.1%.
2024 revenue growth guidance is now 6% to 7%, up from 5% to 7%; adjusted free cash flow guidance is now $65 million to $75 million, down from $65 million to $85 million.
Essex Property Trust reported third quarter 2024 net income of $1.84 per diluted share, up from $1.36 a year earlier, and Core FFO of $3.91 per diluted share, up 3.4%. The company raised its full-year 2024 Core FFO and net income guidance midpoints but lowered its Total FFO midpoint, so shareholders see higher core earnings and a mixed picture on the FFO guidance.
Q3 2024 net income per diluted share was $1.84 versus $1.36 in Q3 2023, largely due to gains on remeasurement of co-investments.
Core FFO per diluted share was $3.91 in Q3 2024, $0.04 above the midpoint of guidance and up 3.4% from $3.78.
Full-year 2024 Core FFO guidance midpoint rose $0.06 to $15.56; the Total FFO midpoint fell $0.13 to $15.92.
Same-property revenue grew 3.5% and same-property NOI grew 2.6% versus Q3 2023.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.
Briefs marked “Written later” were written in November 2026 for filings that were by then more than three weeks old, so months before mid-October 2026 hold a selection: every material 8-K of the past year for the 100 largest companies we cover and the last 15 important 8-Ks of every other one. Briefs the number check holds back are not shown or counted. Also: the last 45 days, briefs by company, A–Z and the live SEC filings wire.