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).
Ares Management reported third quarter 2024 results on November 1, 2024, with GAAP net income attributable to the company of $118.5 million, up from $61.8 million a year earlier. Total revenues were $1.13 billion versus $671 million, and fee related earnings rose 24% to $339.3 million, which signals stronger results for shareholders. The company also declared a quarterly common dividend of $0.93 per share and said it expects 2024 to be a record fundraising year.
GAAP net income attributable to Ares was $118.5 million, or $0.55 per share, versus $61.8 million, or $0.30 per share, in the third quarter of 2023
Fee related earnings were $339.3 million, up from $274.2 million; after-tax realized income was $0.95 per Class A share, up from $0.83
Quarterly common dividend of $0.93 per share, payable December 31, 2024 to holders of record on December 17, 2024
Management expects 2024 gross fundraising commitments in the mid-$80 billion range after $64 billion raised year-to-date
MasTec reported third-quarter 2024 revenue of $3.3 billion, flat from a year earlier, while GAAP net income rose to $105.4 million, or $1.21 per diluted share, from $15.3 million, or $0.18, in the third quarter of 2023. The company also updated full-year 2024 guidance, now expecting revenue of approximately $12.225 billion, GAAP diluted EPS of $1.98 and adjusted EBITDA of $990 million.
Q3 2024 adjusted diluted EPS was $1.63, compared with $0.95 in Q3 2023.
Q3 2024 adjusted EBITDA was $305.9 million, up 13% from $271.1 million a year earlier.
Full-year 2024 guidance: revenue of approximately $12.225 billion, GAAP diluted EPS of $1.98 and adjusted diluted EPS of $3.75.
Q4 2024 guidance: revenue of approximately $3.325 billion and GAAP diluted EPS of $0.86; management will discuss results on November 1, 2024 at 9:00 a.m. Eastern Time.
Erie Indemnity reported third-quarter 2024 net income of $159.8 million, or $3.06 per diluted share, up from $131.0 million, or $2.51, a year earlier. Total operating revenue rose to $999.9 million from $858.9 million, and nine-month net income reached $448.3 million, or $8.57 per diluted share, compared with $335.1 million, or $6.41, in the same period of 2023. The results show higher profit on both a quarterly and year-to-date basis.
Q3 2024 net income was $159.8 million, or $3.06 per diluted share, versus $131.0 million, or $2.51, in Q3 2023.
Q3 2024 operating income before taxes rose $31.7 million, or 21.3 percent, year over year.
Management fee revenue from policy issuance and renewal services increased $120.1 million, or 18.5 percent, in Q3 2024.
The company will hold a pre-recorded audio webcast at 10:00 a.m. ET on November 1, 2024.
Eastman reported third quarter 2024 sales of $2.46 billion, up 9% from $2.27 billion a year earlier, with GAAP diluted EPS of $1.53 versus $1.49 and adjusted diluted EPS of $2.26 versus $1.47. The company kept the midpoint of its full-year adjusted EPS guidance unchanged and expects 2024 EPS of $7.50 to $7.70, while saying the Kingsport methanolysis facility has taken longer than expected to reach consistent production rates.
Third quarter sales were $2,464 million versus $2,267 million, driven by an 8% increase in sales volume/mix.
GAAP diluted EPS was $1.53 versus $1.49; adjusted diluted EPS was $2.26 versus $1.47.
The company expects 2024 EPS of $7.50 to $7.70 and cash from operations of approximately $1.3 billion, with the adjusted EPS guidance midpoint unchanged.
Eastman made an investment decision to build a second methanolysis facility in Longview, Texas, and returned $195 million to shareholders in the quarter, including $100 million of share repurchases.
Cavco reported fiscal second-quarter results for the period ended September 28, 2024, with net revenue up 12.3% to $507 million and diluted earnings per share up 10.9% to $5.28, driven mainly by higher home sales volume. The Board also approved a new $100 million stock repurchase program on October 29, 2024, which the company expects to fund from existing cash.
Net revenue was $507 million, up $55 million or 12.3% from $452 million a year earlier; homes sold rose 15.7% to 4,913.
Diluted EPS was $5.28 versus $4.76; six-month diluted EPS was $9.38 versus $10.05, down 6.7%.
Financial services gross profit margin fell to 21.8% from 35.9%, hurt by Hurricane Beryl and other weather-related insurance claims.
The $100 million repurchase program has no obligation to buy any set amount and may be suspended or discontinued at any time.
Middlesex Water reported third quarter 2024 results on October 31, 2024, with diluted earnings per share of $0.80 versus $0.56 a year earlier and revenue of $55.1 million, up $8.4 million. The company also raised its quarterly dividend 4.62% to $0.34 per share, lifting the annual rate to $1.36 from $1.30.
Q3 2024 net income was $14.3 million, up $4.3 million from the same period in 2023.
Nine-month diluted EPS was $1.98 versus $1.44, helped in part by a one-time recovery of $6.8 million in prior period costs at the Park Avenue Wellfield.
Quarterly dividend of $0.34 per share is payable December 2, 2024, to holders of record as of November 15, 2024.
Operations and maintenance expenses for the quarter rose $2.8 million, driven by legal, financial and regulatory matter costs among other factors.
Dorman Products reported third-quarter 2024 net sales of $503.8 million, up 3.2%, and diluted EPS of $1.80, up 41% from $1.28. The company raised its full-year 2024 diluted EPS guidance to $6.15 to $6.25 from $5.32 to $5.52 and announced a new share repurchase program of up to $500 million, effective January 1, 2025 and running through December 31, 2027.
Q3 2024 net sales were $503.8 million, up 3.2% from $488.2 million in Q3 2023
Diluted EPS was $1.80 versus $1.28; adjusted diluted EPS was $1.96 versus $1.40
2024 diluted EPS guidance raised to $6.15 to $6.25 from $5.32 to $5.52; net sales growth guidance narrowed to 3.5% to 4.5%
New share repurchase program of up to $500 million runs January 1, 2025 to December 31, 2027; prior program expires December 31, 2024
SkyWest reported third quarter 2024 net income of $90 million, or $2.16 per diluted share, compared with $23 million, or $0.55 per diluted share, a year earlier. Revenue rose 19% to $913 million, and the company said it reached an agreement with United Airlines to place 40 CRJ550 aircraft under a multi-year contract.
Q3 2024 revenue was $913 million, up $147 million, or 19%, from $766 million in Q3 2023.
Q3 2024 net income was $90 million, or $2.16 per diluted share, versus $23 million, or $0.55 per diluted share, in Q3 2023.
SkyWest agreed with United Airlines to place 40 CRJ550s under a multi-year contract, including 11 used CRJ550s to be acquired.
SkyWest repurchased 217,000 shares for $16.3 million in Q3 2024 and had $53 million of remaining repurchase availability as of September 30, 2024.
AMETEK reported third quarter 2024 sales of $1.71 billion, up 5%, and adjusted diluted earnings of $1.66 per share, up 1%. The company raised its 2024 adjusted diluted EPS guidance to $6.77 to $6.82 from $6.70 to $6.80 and said it acquired Virtek Vision International, which has annual sales of about $40 million.
Q3 sales were $1.71 billion, up 5%; operating income rose 2% to $445.9 million.
GAAP diluted EPS was $1.47, flat year over year; adjusted diluted EPS was $1.66, up 1% from $1.64.
2024 adjusted diluted EPS guidance raised to $6.77 to $6.82; full-year sales growth outlook of 5% to 7% unchanged.
Virtek Vision, with annual sales of about $40 million, will join the Electronic Instruments Group.
Trinity Industries reported third-quarter 2024 results on October 31, 2024. Revenue fell to $798.8 million from $821.3 million a year earlier, but GAAP diluted EPS rose to $0.44 from $0.29 and operating profit rose to $122.4 million from $100.2 million. The company raised its full-year 2024 EPS guidance to $1.70 to $1.80.
Q3 2024 revenues were $798.8 million, compared with $821.3 million in Q3 2023.
Q3 diluted EPS was $0.44 GAAP and $0.43 adjusted, compared with $0.29 and $0.26 a year earlier.
Operating profit was $122.4 million, up from $100.2 million; Railcar Leasing and Services operating profit was $115.2 million.
Full-year 2024 EPS guidance was raised to $1.70 to $1.80; year-to-date cash flow from continuing operations was $383.5 million.
California Water Service Group reported third-quarter 2024 results on October 31, 2024. Net income attributable to the company was $60.7 million, up from $34.4 million, and operating revenue rose to $299.6 million from $255.0 million, with management citing the 2021 California General Rate Case decision as a continuing benefit. Because both profit and revenue improved, the results point in a positive direction for shareholders, though the release gives no forward guidance figures.
Q3 2024 diluted EPS was $1.03 versus $0.60 in Q3 2023; nine-month diluted EPS was $2.93 versus $0.38.
Operating revenue was $299.6 million versus $255.0 million; operating expenses were $232.8 million versus $211.5 million.
The company invested a record $332.2 million in infrastructure in the first nine months of 2024, up 21% year over year.
The board declared a quarterly dividend of $0.28 per common share, the 319th consecutive quarterly dividend.
Alaska Air Group reported third-quarter 2024 GAAP net income of $236 million, or $1.84 per diluted share, up from $139 million, or $1.08, a year earlier. Excluding special items and fuel hedge adjustments, adjusted EPS was $2.25, above the company's revised guidance range and at the high end of that range. Results include only 13 days of Hawaiian Airlines following the September 18, 2024 acquisition close, and the company expects full-year 2024 EPS above the midpoint of its previous $3.50 to $4.50 guidance range.
Q3 GAAP net income $236 million ($1.84 per share) vs. $139 million ($1.08) in Q3 2023; adjusted EPS $2.25 vs. $1.83
Q4 2024 guidance: adjusted EPS of $0.20 to $0.40 and unit revenue (RASM) up mid-single digits versus 2023
Subsequent to quarter end, the company completed $2 billion in financing backed by its Mileage Plan loyalty program; about $1.4 billion was used to refinance Hawaiian debt
Total liquidity of $3.4 billion at quarter end; the company will hold an Investor Day on December 10 and will not host a Q3 earnings call
Patrick Industries reported third-quarter 2024 net sales up 6% to $919 million, driven by a 13% rise in Housing revenue and the Sportech acquisition, which offset a 21% decline in Marine revenue. Net income rose 3% to $41 million, but diluted earnings per share were $1.80 versus $1.81 a year earlier, and the company's Q3 operating margin slipped 10 basis points to 8.1%. The company also issued $500 million of 6.375% Senior Notes due 2032 after quarter end.
Net sales rose 6% to $919 million; Housing revenue up 13%, Marine revenue down 21%
Net income rose 3% to $41 million; diluted EPS was $1.80 versus $1.81 a year earlier
Operating margin was 8.1%, down 10 basis points; first nine months adjusted diluted EPS rose 13% to $5.75
After quarter end, issued $500 million of 6.375% Senior Notes due 2032 and expanded credit facility to $1.0 billion
Grainger reported third-quarter 2024 sales of $4.4 billion, up 4.3%, and diluted EPS of $9.87, up 4.7% from a year earlier. The company narrowed its 2024 guidance, setting adjusted diluted EPS at $38.65 to $39.35, compared with the prior range of $38.00 to $39.50 given as of August 1, 2024. Operating margin fell 30 basis points to 15.6%.
Q3 2024 net sales were $4,388 million, up 4.3%; daily, organic constant currency sales rose 4.0%
Q3 2024 operating margin was 15.6%, down 30 basis points from 15.9% in Q3 2023
Adjusted diluted EPS guidance for 2024 narrowed to $38.65 to $39.35 as of October 31, 2024
Q3 operating cash flow was $611 million and the company returned $328 million to shareholders through dividends and buybacks
Southern Company reported third-quarter 2024 GAAP earnings of $1.5 billion, or $1.40 per share, up from $1.30 a year earlier, on operating revenues of $7.3 billion, up 4.2%. Excluding certain items, earnings were $1.43 per share versus $1.42 in the third quarter of 2023, and nine-month EPS was $3.53 versus $2.86 on a GAAP basis.
Q3 2024 GAAP EPS $1.40 vs. $1.30 in Q3 2023; net income $1.5 billion vs. $1.4 billion
Q3 EPS excluding items $1.43 vs. $1.42 a year earlier
Operating revenues $7.3 billion in Q3, up 4.2%; nine-month revenues $20.4 billion, up 6.1%
Filing cites a $36 million pre-tax impairment at Alabama Power tied to a discontinued commercial facility project
Upbound Group reported third-quarter 2024 revenue of $1,068.9 million, up 9.2% from a year earlier, and GAAP net earnings of $30.9 million, compared with $4.4 million in the prior-year quarter. The company also narrowed its full-year 2024 guidance ranges, keeping the midpoints of its revenue, adjusted EBITDA and non-GAAP EPS ranges unchanged from the prior ranges.
Q3 2024 consolidated revenue was $1,068.9 million, up 9.2% year over year; GAAP diluted EPS was $0.55 versus $0.08, and non-GAAP diluted EPS was $0.95 versus $0.79.
Full-year 2024 revenue guidance is $4.20 billion to $4.30 billion, up from $4.10 billion to $4.30 billion at the August 1, 2024 update.
Full-year non-GAAP diluted EPS guidance narrowed to $3.75 to $3.90 from $3.65 to $4.00; adjusted EBITDA excluding stock compensation is $470 million to $480 million, from $465 million to $485 million.
Q3 GAAP operating profit was $70.1 million, including $28.1 million of pre-tax special items, compared with $58.1 million a year earlier.
Parker Hannifin reported fiscal 2025 first-quarter results for the period ended September 30, 2024, with sales of $4.9 billion, up 1.2%, and diluted earnings per share of $5.34, up from $4.99 a year earlier. The company raised its fiscal 2025 EPS outlook to $22.78 to $23.48, reflecting the divestiture of its North America Businesses in the Diversified Industrial segment, which it expects to complete in the second quarter. Diversified Industrial sales fell while Aerospace Systems sales rose 17.8%, so shareholders' results depend on how the two segments perform.
Diluted EPS was $5.34 versus $4.99 a year earlier; adjusted EPS was $6.20, up 4%
Sales were $4.9 billion, up 1.2%, with organic sales growth of 1.4%
Aerospace Systems sales rose 17.8% to $1.45 billion; Diversified Industrial sales fell 4.5% on an as-reported basis
Fiscal 2025 EPS outlook raised to $22.78 to $23.48 and total sales growth guidance set at 0.5% to 3.5%
Lancaster Colony Corporation reported results for the fiscal first quarter ended September 30, 2024, in a press release furnished under Item 2.02 of this 8-K. Net sales and net income both rose, with diluted EPS at $1.62 versus $1.59, though operating income fell 1.6%. The filing names Lancaster Colony Corporation (Nasdaq: LANC), not Marzetti Co (MZTI), so the company identity should be confirmed.
Consolidated net sales rose 1.1% to a first quarter record $466.6 million; Foodservice rose 3.5% to $227.0 million while Retail fell 1.1% to $239.6 million.
Net income was $44.7 million, or $1.62 per diluted share, versus $44.0 million, or $1.59 per diluted share, a year earlier.
Consolidated operating income declined 1.6% to $55.9 million, as SG&A expenses rose to $55.0 million.
The filing reports no new guidance figures; management said it expects Retail sales to keep benefiting from licensing and new products.
Intercontinental Exchange reported third quarter 2024 results on October 31, 2024, with record net revenues of $2.3 billion, up 17% year over year, and GAAP diluted EPS of $1.14, up 19%. Adjusted diluted EPS was $1.55, up 6%, and the company also updated its full-year 2024 capital expenditure outlook to $700 million to $740 million. For shareholders, the headline GAAP revenue and earnings measures both grew, though adjusted EPS growth was considerably slower.
Q3 2024 net revenues of $2.3 billion, up 17% y/y; GAAP diluted EPS of $1.14, up 19% y/y
Adjusted diluted EPS of $1.55, up 6% y/y; GAAP operating income of $1.1 billion, up 31% y/y
Mortgage Technology segment posted a Q3 operating loss of $54 million on a GAAP basis
Q4 2024 GAAP operating expenses expected at $1.23 billion to $1.24 billion; full-year 2024 capex now expected at $700 million to $740 million
Laureate Education reported third-quarter 2024 revenue of $368.6 million, up 2% on a reported basis and 9% on an organic constant currency basis, with net income of $85.3 million versus $36.0 million a year earlier. The company said it is increasing its full-year constant currency outlook and now expects 2024 revenue of $1,551 million to $1,556 million and Adjusted EBITDA of $447 million to $451 million, and the filing notes that a discrete tax benefit of about $37.9 million contributed to the profit increase.
Q3 2024 revenue $368.6 million, up 2% reported and 9% organic constant currency; operating income $72.0 million versus $58.7 million
Q3 net income $85.3 million, including a discrete tax benefit of about $37.9 million; basic and diluted EPS $0.56 versus $0.23
Full-year 2024 outlook: revenue $1,551 million to $1,556 million; Adjusted EBITDA $447 million to $451 million; total enrollments about 470,000
Board approved a new stock repurchase program of up to $100 million on September 13, 2024, after the prior $100 million program was completed in Q3
Regeneron reported third quarter 2024 revenue of $3.72 billion, up 11% from a year earlier, and GAAP diluted earnings per share of $11.54, up 30%. Non-GAAP diluted EPS rose 8% to $12.46, and the company cut the top end of its non-GAAP SG&A guidance while raising its capital expenditure guidance.
Total revenues rose 11% to $3.72 billion; GAAP net income rose 33% to $1.34 billion.
Non-GAAP diluted EPS rose 8% to $12.46, including an unfavorable $0.43 impact from acquired IPR&D charges.
Repurchased $738 million of stock in the quarter; $2.9 billion remained under the buyback program at September 30, 2024.
Full-year 2024 capital expenditure guidance was raised to $750–$820 million from $700–$740 million.
Xylem reported third-quarter 2024 revenue of $2.1 billion, up 1% on both reported and organic bases, with diluted EPS of $0.89, up 41%, and adjusted EPS of $1.11, up 12%. The company narrowed its full-year adjusted EPS guidance to $4.22 to $4.24 from $4.18 to $4.28, and expects full-year revenue of $8.5 billion.
Q3 revenue was $2,104 million, up from $2,076 million a year earlier; net income was $217 million versus $152 million.
Q3 diluted EPS was $0.89 versus $0.63; adjusted EPS was $1.11 versus $0.99.
Full-year 2024 adjusted EPS guidance narrowed to $4.22 to $4.24, from $4.18 to $4.28.
Q3 adjusted EBITDA margin was 21.2%, up 140 basis points year over year; orders rose 8%.
Fresh Del Monte Produce reported third-quarter 2024 results for the quarter ended September 27, 2024, with net sales of $1,019.5 million, up from $1,003.1 million a year earlier. Net income attributable to the company rose to $42.1 million, or $0.88 per diluted share, from $8.4 million, or $0.17, helped by higher fresh and value-added product sales and larger gains on asset sales. Banana segment sales fell, and the filing contains no forward guidance.
Net sales were $1,019.5 million versus $1,003.1 million in the prior-year quarter.
Net income attributable to Fresh Del Monte Produce was $42.1 million, versus $8.4 million a year earlier.
Diluted EPS was $0.88, compared with $0.17; gross margin was 9.2%, compared with 7.4%.
Banana segment net sales fell to $345.3 million from $384.7 million; the board declared a $0.25 quarterly dividend payable December 6, 2024.
Granite Construction reported third-quarter 2024 revenue up 14% year over year to $1.3 billion, with net income attributable to the company of $79 million, or $1.57 per diluted share, versus $1.13 a year earlier. The company kept its full-year 2024 revenue guidance of $3.9 billion to $4.0 billion, narrowed its adjusted EBITDA margin range to 10% to 11%, and raised its SG&A expense range to 8.3% to 8.5% of revenue due to increased incentive compensation.
Q3 diluted EPS was $1.57 vs $1.13 a year earlier; adjusted diluted EPS was $2.05 vs $1.72
Q3 revenue rose $159 million to $1.3 billion, with the Construction and Materials segments each up 14%
Record committed and awarded projects (CAP) reached $5.6 billion, up $44 million sequentially
2024 guidance: revenue unchanged at $3.9 billion to $4.0 billion; SG&A raised to 8.3% to 8.5% of revenue from 7.5% to 8.0%
CMS Energy reported third-quarter 2024 diluted EPS of $0.84, up from $0.60 a year earlier, and adjusted EPS of $0.84 versus $0.61. It reaffirmed 2024 adjusted EPS guidance of $3.29 to $3.35 and introduced 2025 adjusted EPS guidance of $3.52 to $3.58, which shareholders can use to compare future results.
Q3 2024 operating revenue was $1,743 million, up from $1,673 million; net income available to common stockholders was $251 million, up from $174 million.
Nine-month 2024 diluted EPS was $2.45 versus $1.96; adjusted EPS was $2.47 versus $2.06, which the company attributed largely to constructive regulatory outcomes and solid performance at NorthStar Clean Energy.
2024 adjusted EPS guidance of $3.29 to $3.35 was reaffirmed, with confidence toward the high end; long-term adjusted EPS growth of 6 to 8 percent was also reaffirmed.
The company will hold a webcast on October 31, 2024 at 9:30 a.m. ET to discuss results and its outlook.
Avient reported third quarter 2024 sales of $815.2 million, up from $753.7 million a year earlier, and GAAP diluted EPS from continuing operations of $0.41, up from $0.06. Adjusted EPS of $0.65 exceeded the company's $0.62 guidance and rose 14% from the prior year. The company narrowed its full-year 2024 adjusted EPS guidance to $2.63 to $2.67 from $2.55 to $2.70, and raised its dividend 5% to $1.08 annualized.
Third quarter sales rose 8% to $815.2 million from $753.7 million; GAAP diluted EPS was $0.41 versus $0.06
Adjusted EPS of $0.65 beat the $0.62 guidance and was up 14% from $0.57 in the prior year quarter
2024 adjusted EPS guidance narrowed to $2.63 to $2.67 from $2.55 to $2.70; adjusted EBITDA guidance is $525 million to $530 million from $515 million to $540 million
Quarterly dividend increased 5% to $1.08 annualized, the fourteenth consecutive annual increase; investor day set for December 4 in New York
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.
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
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.
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
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.
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
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
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.
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.
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.
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
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