589 material Form 8-K filings that 520 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).
Sabra Health Care REIT reported third-quarter 2024 net income of $29.8 million, or $0.13 per diluted share, compared with a net loss of $15.1 million, or $0.07 per share, a year earlier. Total revenues rose to $178.0 million from $161.6 million. The company raised the low and high ends of its 2024 normalized FFO guidance and raised the midpoint of its normalized AFFO guidance, but lowered the top end of its net income guidance.
Q3 2024 normalized FFO was $0.35 per diluted share, versus $0.33 in Q3 2023; normalized AFFO was $0.37, versus $0.34.
2024 normalized FFO guidance raised to $1.39-$1.40 from $1.36-$1.39; normalized AFFO guidance raised to $1.43-$1.44 from $1.41-$1.44.
2024 net income guidance is $0.48-$0.49, down from the prior top end of $0.51.
Board declared a quarterly dividend of $0.30 per share, payable November 29, 2024, to holders of record on November 15, 2024.
LeMaitre Vascular reported preliminary, unaudited results for the quarter ended September 30, 2024, with net sales of $54.8 million, up 16% from a year earlier, and diluted earnings per share of $0.49, up from $0.33. The company also raised its full-year 2024 guidance, which for sales is $219.0 million to $221.0 million and for EPS is $1.91 to $1.96, giving shareholders a higher outlook for growth and profit.
Q3 2024 net sales were $54.8 million, up from $47.4 million in Q3 2023.
Q3 operating income was $13.1 million, up from $9.2 million, and diluted EPS was $0.49 versus $0.33.
Full-year 2024 sales guidance is $219.0 million to $221.0 million, and EPS guidance is $1.91 to $1.96.
The Board approved a $0.16 per share quarterly dividend, payable December 5, 2024, to holders of record on November 21, 2024.
EMCOR Group reported record third-quarter 2024 revenues of $3.70 billion, up 15.3%, and diluted EPS of $5.80, up from $3.57 a year earlier. The company raised its full-year 2024 diluted EPS guidance to $20.50-$21.00 from $19.00-$20.00, while narrowing its revenue guidance to at least $14.5 billion from $14.5-$15.0 billion, which lowers the top end of the prior range.
Q3 2024 revenue of $3.70 billion, up 15.3%; net income of $270.3 million, or $5.80 per diluted share
Full-year 2024 diluted EPS guidance raised to $20.50-$21.00 from $19.00-$20.00
Full-year 2024 revenue guidance adjusted to at least $14.5 billion from $14.5-$15.0 billion
Record remaining performance obligations of $9.79 billion, up 13.4% year-over-year
Itron reported third quarter 2024 revenue of $615 million, up 10%, and GAAP diluted EPS of $1.70 versus $0.87 a year earlier, aided in part by a favorable foreign tax audit resolution worth about $0.30 per share. The company raised its full-year 2024 revenue and non-GAAP diluted EPS guidance, which gives shareholders a higher stated outlook for the year.
Q3 2024 revenue of $615 million, up 10%; GAAP diluted EPS of $1.70 versus $0.87; non-GAAP diluted EPS of $1.84 versus $0.98
Full-year 2024 revenue guidance raised to $2.428 to $2.438 billion from $2.385 to $2.415 billion
Full-year 2024 non-GAAP diluted EPS guidance raised to $5.28 to $5.38 from $4.45 to $4.65
Q4 2024 outlook: revenue of $600 to $610 million and non-GAAP diluted EPS of $1.00 to $1.10
IDACORP reported third-quarter 2024 net income of $113.6 million, or $2.12 per diluted share, up from $2.07 a year earlier, driven mainly by higher net income at Idaho Power. It raised the lower end of its full-year 2024 earnings guidance to $5.35 to $5.45 per diluted share, though the new range's upper end is unchanged from the prior $5.45 figure. Shareholders also get a look at the company's plans to add battery and wind resources to meet customer growth.
Q3 2024 net income attributable to IDACORP was $113.6 million, or $2.12 per diluted share, versus $105.3 million, or $2.07, in Q3 2023.
Nine-month 2024 net income was $251.3 million, or $4.82 per diluted share, versus $229.9 million, or $4.53, a year earlier.
2024 earnings guidance now $5.35 to $5.45 per diluted share, up from $5.30 to $5.45 previously, as of October 31, 2024.
Idaho Power's expected additional tax credit (ADITC) benefit for 2024 is $25 million to $35 million, versus $35 million to $50 million previously.
Curtiss-Wright reported third quarter 2024 sales of $799 million, up 10%, and diluted EPS of $2.89, with adjusted diluted EPS of $2.97, up 17%. The company raised its full-year 2024 adjusted guidance for sales, operating income, diluted EPS and free cash flow, which is a positive signal for shareholders.
Q3 2024 reported sales of $799 million, up 10%; diluted EPS $2.89 versus $2.51 a year earlier
Full-year 2024 adjusted diluted EPS guidance raised to $10.55 to $10.75, from $10.40 to $10.65
Full-year 2024 sales guidance raised to $3,050 million to $3,095 million; free cash flow guidance raised to $430 million to $450 million
Company completed a $100 million expansion of its 2024 share repurchase program during the quarter
HII reported third quarter 2024 revenue of $2.7 billion, down 2.4%, and net earnings of $101 million, or $2.56 per diluted share, versus $148 million and $3.70 a year earlier. The company cut its fiscal 2024 shipbuilding operating margin outlook to 5.0% to 6.0% from 7.6% to 7.8% and its fiscal 2024 free cash flow outlook to $0 to $100 million from $600 million to $700 million, and withdrew its five-year free cash flow outlook, which weighs on shareholder expectations for cash generation.
Q3 2024 revenue $2.7 billion, down 2.4%; net earnings $101 million vs. $148 million a year earlier
Newport News Shipbuilding included a net unfavorable cumulative adjustment of $78 million; segment operating margin 1.1%
FY24 free cash flow outlook cut to $0-$100 million from $600-$700 million; five-year (2024-2028) outlook withdrawn
Total backlog approximately $49.4 billion as of September 30, 2024
Generac reported third-quarter 2024 net income of $114 million, or $1.89 per diluted share, up from $60 million, or $0.97 per share, a year earlier, on net sales of $1.17 billion. The company raised its full-year 2024 net sales growth guidance to 5% to 9% from 4% to 8%, and its adjusted EBITDA margin guidance to 17.5% to 18.5% from 17.0% to 18.0%, citing higher power outage activity including Hurricane Helene and Hurricane Milton.
Net sales were $1.17 billion, up about 10% from $1.07 billion; residential product sales rose about 28% to $723 million while commercial & industrial sales fell about 15% to $328 million.
Adjusted net income was $136 million, or $2.25 per share, compared with $102 million, or $1.64 per share, in the third quarter of 2023.
Full-year 2024 net sales growth guidance was raised to 5% to 9% from 4% to 8%, and adjusted EBITDA margin guidance was raised to 17.5% to 18.5% from 17.0% to 18.0%.
The company repurchased 690,711 shares for approximately $102 million in the quarter, with about $347 million remaining under its repurchase program as of September 30, 2024.
Ventas reported third-quarter 2024 normalized FFO of $0.80 per share, up from $0.75 a year earlier, and net income attributable to common stockholders of $0.05 per share versus a loss of $0.18 per share in the prior-year quarter. The company raised its full-year 2024 guidance, lifting the low end of its normalized FFO per share range to $3.14 from $3.12 and moving the midpoint to $3.16 from $3.15, which gives shareholders a higher expected earnings base for the year.
Q3 2024 normalized FFO per share of $0.80, up 7% from $0.75 in Q3 2023
Q3 2024 net income attributable to common stockholders of $0.05 per share, compared with a loss of $0.18 per share a year earlier
Full-year 2024 normalized FFO per share guidance range updated to $3.14-$3.18 from $3.12-$3.18 as of October 30, 2024
Year to date, the company closed about $1.4 billion of senior housing investments and placed $300 million more under contract
Antero Midstream reported third quarter 2024 net income of $100 million, or $0.21 per diluted share, up 5% per share from a year earlier, and revenue of $270 million. The company also cut its 2024 net income guidance by $25 million at the midpoint, to $400 million to $420 million, mainly because of higher interest expense from higher rates and the 2024 refinancing.
Net income was $100 million, or $0.21 per diluted share, up 5% per share from $0.20 a year earlier
Adjusted EBITDA was $256 million, up 2% from the prior year quarter; revenue was $270 million
2024 net income guidance lowered by $25 million at midpoint to $400 million-$420 million
2024 interest expense guidance raised by $10 million at midpoint to $200 million-$210 million
Kite Realty Group Trust reported third-quarter 2024 net income attributable to common shareholders of $16.7 million, or $0.08 per diluted share, up from $2.1 million, or $0.01, a year earlier. Its NAREIT FFO was $0.51 per diluted share, unchanged from the prior year, and the company raised the low end of its 2024 NAREIT FFO guidance to $2.06 to $2.08 per share. Nine-month results were a net loss of $17.8 million, mainly reflecting $66.2 million of impairment charges.
Q3 2024 net income attributable to common shareholders was $16.7 million, or $0.08 per diluted share, versus $2.1 million, or $0.01, in Q3 2023.
Nine-month 2024 net loss attributable to common shareholders was $17.8 million, or $0.08 per diluted share, versus net income of $39.5 million in the prior-year period; impairment charges were $66.2 million.
2024 NAREIT FFO guidance was updated to $2.06 to $2.08 per diluted share from $2.04 to $2.08; Same Property NOI guidance is 2.5% to 3.0%.
Board declared a fourth-quarter 2024 dividend of $0.27 per common share, an 8.0% increase year over year, payable on or about January 16, 2025.
UDR reported third quarter 2024 results on October 30, 2024. Total revenue rose 2.4% year over year to $420.2 million, but FFO per diluted share fell to $0.60 from $0.61 and net income per diluted share fell to $0.06 from $0.10. The company narrowed its full-year 2024 FFOA per diluted share guidance to $2.47 to $2.49 from $2.42 to $2.50, raising the midpoint by $0.02 to $2.48.
Q3 2024 FFO per diluted share was $0.60 versus $0.61 a year earlier; FFOA was $0.62 versus $0.63; AFFO was $0.54 versus $0.55.
Full-year 2024 FFO per diluted share guidance is $2.42 to $2.44, with the midpoint up $0.01 to $2.43.
Same-Store revenue grew 1.2% year over year in Q3 2024, while Same-Store expenses rose 2.0%.
Q3 included an $8.1 million non-cash impairment loss on the Junction preferred equity investment.
Universal Display reported third-quarter 2024 revenue of $161.6 million, up from $141.1 million a year earlier, and net income of $66.9 million, or $1.40 per diluted share, versus $51.5 million, or $1.08, in the prior-year quarter. The company also lowered its 2024 revenue forecast to $625 million to $645 million, citing recent updates to customer order expectations for the fourth quarter, which matters to shareholders because it signals slower growth than previously projected.
Q3 2024 total revenue $161.6 million vs. $141.1 million in Q3 2023
Q3 2024 net income $66.9 million, or $1.40 per diluted share, vs. $51.5 million, or $1.08
2024 revenue forecast now $625 million to $645 million
Fourth quarter cash dividend of $0.40 per share, payable December 31, 2024, to holders of record on December 17, 2024
Oshkosh reported third-quarter 2024 sales of $2.74 billion, up 9.2%, but net income fell to $180.3 million, or $2.75 per diluted share, from $183.7 million, or $2.79, a year earlier. The company lowered its 2024 diluted EPS expectation to approximately $10.00 from $10.45 and its adjusted EPS expectation to approximately $11.35 from $11.75, citing softness in the North American access equipment market.
Third-quarter sales rose to $2.74 billion, up 9.2%, led by the Vocational segment, where sales grew 17.6%.
Adjusted diluted EPS was $2.93 for the third quarter, down from $3.04 a year earlier.
2024 sales expectation was reduced to approximately $10.6 billion from $10.7 billion.
The board declared a quarterly dividend of $0.46 per share, payable November 29, 2024.
Gates Industrial reported third-quarter 2024 results for the period ended September 28, 2024. Net sales fell 4.8% to $830.7 million and net income attributable to shareholders dropped to $47.6 million, or $0.18 per diluted share, from $78.7 million, or $0.29, a year earlier. The company raised its full-year 2024 adjusted EPS guidance to $1.33 to $1.37 from $1.29 to $1.35, while lower sales and profit weighed on the quarter.
Net sales were $830.7 million, down 4.8% from $872.9 million a year earlier; core sales declined 3.8%.
Net income attributable to shareholders was $47.6 million, or $0.18 per diluted share, versus $78.7 million, or $0.29, in the prior-year quarter.
Adjusted EPS was $0.33 for the quarter, compared with $0.36 a year earlier.
Full-year 2024 adjusted EPS guidance was raised to $1.33 to $1.37 from $1.29 to $1.35; adjusted EBITDA guidance of $745 million to $765 million was unchanged at the midpoint.
Vita Coco reported third-quarter 2024 net sales of $133 million, down 4% from the prior year, while net income rose to $19 million from $15 million. The company raised its full-year 2024 guidance for net sales and adjusted EBITDA, citing improving inventory flow after supply constraints that limited sales in the quarter. Shareholders get a mixed picture: lower sales and adjusted EBITDA, offset by higher profit and a higher outlook.
Q3 2024 net sales were $133 million, down 4% from $138 million; year-to-date net sales were flat at $389 million.
Q3 diluted EPS was $0.32 versus $0.26; net income was $19 million, partly helped by a $2.6 million unrealized derivative gain.
Q3 adjusted EBITDA fell to $23 million from $27 million; gross margin was 39% versus 41%.
2024 guidance raised to net sales of $505 million to $515 million and adjusted EBITDA of $80 million to $84 million.
Urban Edge Properties reported third-quarter 2024 results on October 30, 2024, and raised its full-year 2024 FFO as Adjusted guidance to $1.32 to $1.35 per diluted share from $1.29 to $1.32. Net income attributable to common shareholders fell from the prior-year quarter, which included a $26.7 million gain on debt extinguishment, while FFO as Adjusted per diluted share rose 9%.
Q3 2024 net income attributable to common shareholders was $9.1 million, or $0.07 per diluted share, versus $36.1 million, or $0.31, in Q3 2023.
Q3 2024 FFO as Adjusted was $0.35 per diluted share, up $0.03, or 9%, from $0.32 a year earlier.
2024 FFO as Adjusted guidance was raised to $1.32 to $1.35 per diluted share from $1.29 to $1.32.
On October 29, 2024, the company closed the $126 million acquisition of The Village at Waugh Chapel in Maryland.
Kadant reported third-quarter 2024 revenue of $271.6 million, up 11% from a year earlier, though organic revenue fell 1% excluding acquisitions. Net income attributable to Kadant rose 2% to $31.6 million, and adjusted EPS rose 6% to $2.84. The company raised its 2024 adjusted EPS guidance to $9.93 to $10.13 and narrowed its revenue guidance to $1.047 to $1.055 billion.
Q3 revenue $271.6 million, up 11%; organic revenue down 1%, with acquisitions adding 12%
Net income $31.6 million, up 2%; GAAP diluted EPS $2.68, up 2%; adjusted EPS $2.84, up 6%
2024 adjusted EPS guidance raised to $9.93 to $10.13 from $9.80 to $10.05
2024 revenue guidance narrowed to $1.047 to $1.055 billion from $1.045 to $1.065 billion
Chemed reported third-quarter 2024 revenue of $606.2 million, up 7.4%, and adjusted diluted EPS of $5.64, up 6.0%. The company said Roto-Rooter's revenue and adjusted EBITDA were softer than anticipated, and it revised full-year 2024 adjusted EPS guidance to $23.00 to $23.15, which implies a 13.3% to 14.0% increase over 2023's $20.30.
Q3 2024 revenue $606.2 million, up 7.4%; GAAP diluted EPS $5.00, up 1.4%; adjusted diluted EPS $5.64, up 6.0%
VITAS net patient revenue $391.4 million, up 17.3%; Roto-Rooter revenue $214.8 million, down 6.9%
Roto-Rooter adjusted EBITDA $56.4 million, down 15.8%; adjusted EBITDA margin 26.3%, down 275 basis points
Full-year 2024 adjusted EPS guidance $23.00 to $23.15; company repurchased 100,000 shares for $57.8 million in the quarter
FirstEnergy reported third quarter 2024 GAAP earnings from continuing operations of $419 million, or $0.73 per share, on revenue of $3.7 billion, and operating earnings of $0.85 per share, within its guidance range. The company narrowed its full-year 2024 operating earnings guidance to $2.61 to $2.71 per share, lowering the top of the prior $2.61 to $2.81 range, and raised its 2024 capital investment plan to $4.6 billion.
Q3 2024 GAAP earnings from continuing operations were $419 million ($0.73 per share), compared with $421 million ($0.74 basic per share) in Q3 2023.
Q3 2024 operating EPS was $0.85, down from $0.88 in Q3 2023, while revenue rose to $3.7 billion from $3.5 billion.
2024 operating EPS guidance narrowed to $2.61 to $2.71 from $2.61 to $2.81, citing mild weather, lower Ohio distribution revenues and higher storm restoration costs.
The 2024 capital investment plan increased by $300 million to $4.6 billion, and the company affirmed its targeted 6% to 8% long-term annual operating earnings growth.
EXL reported third-quarter 2024 revenue of $472.1 million, up 14.9% from a year earlier, and GAAP diluted EPS of $0.33, up 24.2%. The company raised its full-year 2024 guidance for revenue to $1.825 billion to $1.835 billion and for adjusted diluted EPS to $1.61 to $1.63, which gives shareholders a higher outlook than before.
Q3 2024 revenue was $472.1 million, up 14.9% year over year and up 5.3% sequentially on a reported basis.
Q3 2024 GAAP diluted EPS was $0.33, up from $0.26 in Q3 2023; adjusted diluted EPS was $0.44, up from $0.37.
Full-year 2024 revenue guidance was raised to $1.825 billion to $1.835 billion, from $1.805 billion to $1.830 billion.
Full-year 2024 adjusted diluted EPS guidance was raised to $1.61 to $1.63, from $1.59 to $1.62.
InvenTrust reported third-quarter 2024 results on October 29, 2024, with Nareit FFO of $0.45 per diluted share and Core FFO of $0.44, both up from $0.41 a year earlier. The company raised the low end of its full-year Nareit FFO guidance to $1.74 from $1.73 and its Core FFO guidance to $1.70 to $1.73 from $1.69 to $1.73, which points to higher expected per-share operating results for shareholders.
Q3 Nareit FFO was $30.9 million, or $0.45 per diluted share, versus $0.41 in Q3 2023
Same Property NOI rose 6.5% to $45.5 million for the quarter
Full-year Core FFO guidance is now $1.70 to $1.73 per diluted share, up from $1.69 to $1.73
Net loss narrowed to $0.5 million, or $0.01 per share, from $0.8 million a year earlier
CTS reported third-quarter 2024 sales of $132 million, down 2% from a year earlier, while net income rose to $19 million from $14 million and diluted EPS reached $0.61 versus $0.44. The company lowered its full-year 2024 sales guidance to $515 million-$525 million from $525 million-$540 million, but kept its adjusted diluted EPS guidance of $2.05-$2.25, so shareholders face weaker revenue expectations even as profitability improved.
Q3 2024 sales were $132 million, down 2% year over year, and net income was $19 million, or 14% of sales.
Diluted EPS was $0.61 versus $0.44 a year earlier; adjusted diluted EPS was $0.63 versus $0.54.
Full-year 2024 sales guidance was cut to $515 million-$525 million from $525 million-$540 million.
Adjusted diluted EPS guidance of $2.05-$2.25 was reiterated; operating cash flow rose to $35 million from $22 million.
Crocs reported third-quarter 2024 revenue of $1,062 million, up 1.6%, and GAAP diluted earnings per share of $3.36, up 17.1%. The company lowered its full-year HEYDUDE revenue outlook to a decline of about 14.5%, from a prior range of down 8% to 10%, and now expects overall 2024 revenue growth at the lower end of its 3% to 5% range, which weighs on the outlook for shareholders.
Q3 revenue $1,062 million, up 1.6%; GAAP diluted EPS $3.36, up 17.1%; adjusted diluted EPS $3.60, up 10.8%
HEYDUDE Brand Q3 revenue fell 17.4% to $204 million; full-year 2024 HEYDUDE revenue now expected to fall about 14.5%
Full-year 2024 adjusted diluted EPS guidance of $12.82 to $12.90, at the high end of the prior $12.45 to $12.90 range
Q4 2024 adjusted diluted EPS expected at $2.20 to $2.28; the company repaid $110 million of debt in the quarter
Armstrong World Industries reported third-quarter 2024 net sales of $386.6 million, up 11.3%, and diluted net earnings per share of $1.75, up 12.2%. The company raised its full-year 2024 guidance for adjusted EBITDA, adjusted diluted earnings per share and adjusted free cash flow, and narrowed its sales outlook, which matters to shareholders because it signals higher expected profit for the year.
Q3 net sales were $386.6 million versus $347.3 million a year earlier; net earnings were $76.9 million versus $69.5 million.
2024 adjusted diluted EPS guidance is $6.15 to $6.25; 2024 adjusted EBITDA guidance is $482 million to $490 million.
The company repurchased shares for $15 million in Q3 and had $677 million remaining under its authorization as of September 30, 2024.
Nine-month diluted EPS was $4.61, up from $3.93 a year earlier.
Kilroy Realty Corporation reported third quarter 2024 revenue of $289.9 million, up 2.2% from a year earlier, and funds from operations (FFO) of $1.17 per diluted share, up 4.5%. Net income available to common stockholders was $0.44 per diluted share, down from $0.45, and the company raised its full-year 2024 FFO per share guidance to $4.38 to $4.44 from $4.21 to $4.31.
Q3 2024 revenue $289.9 million vs. $283.6 million in Q3 2023
Net income available to common stockholders $0.44 per diluted share vs. $0.45 a year earlier
FFO $140.4 million, or $1.17 per diluted share, vs. $1.12 a year earlier
Full-year 2024 FFO per share guidance $4.38 to $4.44, up from $4.21 to $4.31 in July 2024
Crane Company reported third quarter 2024 results on October 28, 2024, with GAAP earnings per diluted share of $1.33, up from $0.96, and sales of $597 million, up 13%. The company raised and narrowed its full-year 2024 adjusted EPS outlook to $5.05-$5.20 from $4.95-$5.15, but said it now expects free cash flow at the lower end of its $255-$275 million range.
Q3 GAAP EPS of $1.33 vs. $0.96 a year earlier; adjusted EPS of $1.38 vs. $1.03.
Q3 sales of $597 million, up 13%, including 6% core sales growth.
Full-year adjusted EPS outlook raised to $5.05-$5.20 from $4.95-$5.15.
Full-year free cash flow now expected at the lower end of $255-$275 million, citing working capital and hurricane-related insurance timing; Hurricane Helene affected a Marion, North Carolina facility.
Encompass Health reported third-quarter 2024 net operating revenue of $1.35 billion, up 11.9% from a year earlier, and diluted earnings per share from continuing operations of $1.07, up from $0.85. The company raised its full-year 2024 guidance for revenue, Adjusted EBITDA and adjusted earnings per share, though it noted challenging conditions from Hurricanes Helene and Milton.
Q3 2024 net operating revenue was $1,351.0 million versus $1,206.9 million in Q3 2023; discharges rose 8.8%, including 6.8% same-store growth.
Adjusted EBITDA was $269.3 million, up 13.4%; adjusted earnings per share was $1.03 versus $0.86.
Full-year 2024 guidance raised: net operating revenue to $5,325 million to $5,375 million (from $5,275 million to $5,350 million) and adjusted EBITDA to $1,070 million to $1,090 million (from $1,040 million to $1,075 million).
Adjusted earnings per share guidance raised to $4.19 to $4.33 from $3.97 to $4.22; earnings call is at 10:00 a.m. Eastern on October 29, 2024.
Gentex reported record third-quarter 2024 net sales of $608.5 million, up 6% from a year earlier, and diluted earnings per share of $0.53, up 18%. The company lowered its calendar 2024 revenue and gross margin guidance, citing weaker light vehicle production, and said its gross margin target will likely not be reached until 2025.
Net sales were $608.5 million, up from $575.8 million in Q3 2023, while light vehicle production in the primary markets fell 6%.
Net income was $122.5 million, up 17%, and diluted EPS was $0.53 versus $0.45, helped by $14.5 million in non-cash gains on tech investments.
2024 revenue guidance was lowered to $2.35-$2.40 billion from $2.40-$2.50 billion, and gross margin guidance to 33.5%-34.0% from 34%-34.5%.
The company repurchased 3.2 million shares at an average price of $30.16 and has about 10.1 million shares left under its plan.
Phillips Edison reported third-quarter 2024 Core FFO of $84.4 million, or $0.62 per diluted share, up 9.6% from a year earlier, and narrowed its full-year 2024 Core FFO per share guidance to $2.40 to $2.44 from $2.37 to $2.45. GAAP net income attributable to stockholders fell to $11.6 million, or $0.09 per diluted share, from $12.2 million, or $0.10, a year earlier. Shareholders see higher recurring earnings and raised acquisition guidance, while reported net income declined.
Q3 2024 Core FFO was $84.4 million, or $0.62 per diluted share, up from $0.58 in Q3 2023.
Q3 2024 net income attributable to stockholders was $11.6 million, or $0.09 per diluted share, versus $12.2 million, or $0.10, in Q3 2023.
2024 Core FFO per share guidance was updated to $2.40 to $2.44, from a previous $2.37 to $2.45.
2024 acquisitions guidance was raised to $275 million to $325 million, from $200 million to $300 million.
The Ensign Group reported third-quarter 2024 GAAP diluted earnings per share of $1.34, up 20.7% from a year earlier, and adjusted diluted EPS of $1.39, up 15.8%. Revenue rose 15.0% to $1.08 billion, and the company raised its full-year 2024 EPS and revenue guidance, which matters to shareholders because it signals higher expected earnings and sales for the year.
Q3 2024 GAAP net income was $78.4 million, up 22.8% from the prior year quarter; GAAP diluted EPS was $1.34 versus $1.11.
Full-year 2024 diluted EPS guidance was raised to $5.46 to $5.52 from $5.38 to $5.50.
Full-year 2024 revenue guidance was raised to $4.25 billion to $4.26 billion from $4.20 billion to $4.22 billion.
Same Facilities occupancy rose 2.8% year over year to 81.7%; cash on hand was $532.1 million as of September 30, 2024.
WEX reported third-quarter 2024 revenue up 2% to a third-quarter record $665.5 million, with GAAP diluted EPS of $2.52 versus $0.42 a year earlier and adjusted diluted EPS of $4.35 versus $4.05. The company lowered its full-year 2024 outlook and guided fourth-quarter adjusted EPS to $3.51 to $3.61, citing lower fuel prices and softer Mobility volumes, and said results came in below its expectations.
Q3 2024 total revenue rose 2% to $665.5 million; GAAP net income was $102.9 million, or $2.52 per diluted share.
Full-year 2024 revenue is now expected at $2.62 billion to $2.63 billion, and adjusted EPS at $15.21 to $15.31.
Fourth-quarter 2024 guidance: revenue of $630 million to $640 million and adjusted EPS of $3.51 to $3.61.
WEX spent about $370 million on share repurchases in Q3, and its Board increased the repurchase authorization by $1 billion.
Getty Realty reported third-quarter 2024 results for the quarter ended September 30, 2024. Total revenues rose to $51.5 million from $50.5 million, while net earnings fell to $15.3 million, or $0.27 per diluted share, from $16.0 million, or $0.31 a year earlier. The company raised its 2024 AFFO guidance to $2.32 to $2.33 per diluted share from $2.30 to $2.32, citing year-to-date investment and capital markets activity.
Q3 net earnings were $15.3 million, or $0.27 per diluted share, versus $16.0 million, or $0.31, in Q3 2023.
Q3 AFFO was $33.2 million, or $0.59 per diluted share, versus $0.57 in Q3 2023.
2024 AFFO guidance raised to $2.32 to $2.33 per diluted share from $2.30 to $2.32.
Agreed to issue $125.0 million of senior unsecured notes in a private placement, expected to close in the quarter ending December 31, 2024.
Veralto reported third-quarter 2024 sales of $1,314 million, up 4.7% from a year earlier, and GAAP diluted earnings per share of $0.88 versus $0.83 in the prior-year quarter. The company raised its full-year 2024 adjusted diluted EPS guidance to $3.44-$3.48 from $3.37-$3.45, which signals higher expected profit for shareholders.
Q3 2024 sales rose 4.7% to $1,314 million, with non-GAAP core sales growth of 4.6%.
GAAP net earnings were $219 million, or $0.88 per diluted share, up from $205 million, or $0.83, a year earlier.
Full-year 2024 adjusted diluted EPS guidance was raised to $3.44-$3.48 from $3.37-$3.45; free cash flow conversion guidance of 100%-110% was maintained.
Q4 2024 adjusted diluted EPS is expected in a range of $0.86-$0.90, with adjusted operating profit margin of approximately 24.0%.
EastGroup Properties reported third-quarter 2024 diluted EPS of $1.13, up from $1.07 a year earlier, and FFO excluding gains on involuntary conversion and business interruption claims of $2.13 per share, up 9.2%. The company revised its 2024 FFO per share guidance to $8.33 to $8.37 from $8.28 to $8.38, a narrower range with a slightly higher midpoint, which matters to shareholders because it reflects management's updated view of full-year earnings.
Q3 2024 diluted EPS was $1.13 versus $1.07 in Q3 2023; FFO excluding gains was $2.13 per share versus $1.95, up 9.2%.
2024 FFO per share guidance revised to $8.33 to $8.37 from the July range of $8.28 to $8.38; 2024 EPS guidance is $4.64 to $4.68.
Operating portfolio was 96.9% leased and 96.5% occupied as of September 30, 2024.
Q3 dividend of $1.40 per share was paid October 15, 2024, a 10.2% increase over the prior quarter's dividend.
Goosehead Insurance reported third-quarter 2024 total revenue of $78.0 million, up 10%, and net income of $12.6 million, up from $11.3 million a year earlier. The company raised its full-year 2024 guidance for total revenue and written premium, which points to expected growth for shareholders.
Total revenue rose 10% to $78.0 million; Core Revenue rose 16% to $73.5 million for the quarter ended September 30, 2024.
Net income was $12.6 million versus $11.3 million a year earlier; basic EPS was $0.31 versus $0.29.
Total written premium rose 28% to $1.03 billion, and Adjusted EBITDA rose to $26.1 million from $22.4 million.
For full-year 2024, total revenues are expected between $295 million and $310 million, and written premiums between $3.70 billion and $3.82 billion.
Wabtec reported third quarter 2024 results on October 23, 2024, with sales up 4.4% to $2.66 billion and GAAP diluted EPS of $1.63, up 22.6%. The company raised and tightened its 2024 adjusted diluted EPS guidance to $7.45 to $7.65, while its revenue guidance of $10.25 billion to $10.55 billion was unchanged. For shareholders, the filing shows higher earnings and a higher profit outlook for the year.
Q3 2024 adjusted diluted EPS was $2.00, up 17.6% from $1.70 a year earlier
Q3 2024 sales were $2.66 billion, up 4.4%; GAAP operating margin rose to 16.3% from 14.5%
2024 adjusted diluted EPS guidance raised and tightened to $7.45 to $7.65; revenue guidance unchanged at $10.25 billion to $10.55 billion
Company repurchased $599 million of shares and paid $35 million in dividends in the quarter
TransUnion reported third quarter 2024 revenue of $1.085 billion, up 12 percent from a year earlier, and net income attributable to TransUnion of $68 million, compared with a loss of $319 million in the prior-year quarter that included a $414 million goodwill impairment. The company said it exceeded its third quarter guidance for revenue and earnings and raised its full-year 2024 revenue growth outlook to 9 percent.
Q3 diluted earnings per share were $0.35, compared with a loss of $1.65 in Q3 2023; adjusted diluted EPS was $1.04, compared with $0.91.
Adjusted EBITDA was $394 million, up 11 percent, with a margin of 36.3 percent versus 36.8 percent a year earlier.
Full-year 2024 revenue guidance is now $4,161 million to $4,181 million, implying 9 percent growth.
The company voluntarily prepaid $25 million of debt in Q3, bringing 2024 prepayments to $105 million; Q3 restructuring expense was $40.5 million.
Agree Realty reported third-quarter 2024 net income up 7.2% to $42.5 million and AFFO per share up 2.8% to $1.03. The REIT raised its full-year 2024 acquisition volume guidance to approximately $850 million from $700 million and narrowed its AFFO per share guidance to $4.12 to $4.14 from $4.11 to $4.14, which supports higher per-share cash flow expectations for shareholders.
Q3 2024 net income per share rose 2.6% to $0.42; Core FFO per share rose 2.2% to $1.01
Full-year 2024 AFFO per share guidance revised to $4.12 to $4.14 from $4.11 to $4.14
Full-year 2024 acquisition volume guidance raised to approximately $850 million from approximately $700 million
Total liquidity exceeded $1.9 billion as of September 30, 2024, including $725.0 million of outstanding forward equity
Selective Insurance Group reported third-quarter 2024 results on October 21, 2024, with GAAP net income of $1.47 per diluted share, up from $1.42 a year earlier, while non-GAAP operating income fell to $1.40 per share from $1.51. The company raised its full-year 2024 expected GAAP combined ratio to 102.5% from 101.5%, citing elevated catastrophe losses, which means lower underwriting profitability for shareholders than previously expected.
Q3 GAAP net income of $1.47 per diluted share vs. $1.42 a year ago; non-GAAP operating income of $1.40 vs. $1.51.
Full-year 2024 GAAP combined ratio expected at 102.5%, up from prior guidance of 101.5%; net catastrophe losses estimate raised to 7.5 points from 5.5.
Q3 net catastrophe losses of $149 million, including an estimated $85 million of pre-tax losses from Hurricane Helene.
Quarterly common dividend raised 9% to $0.38 per share, payable December 2, 2024.
Gibraltar Industries said preliminary third-quarter 2024 net sales were $359 million to $362 million, down from $390.7 million a year earlier, and GAAP EPS was $1.09 to $1.12 versus $1.28. It also lowered its full-year 2024 net sales and EPS guidance, citing solar industry headwinds and a slower residential market, which points to weaker results for shareholders.
Preliminary Q3 2024 net sales of $359 million to $362 million, versus $390.7 million in Q3 2023; GAAP EPS of $1.09 to $1.12, versus $1.28.
Updated 2024 net sales guidance of $1,310 million to $1,330 million, down from prior guidance of $1,380 million to $1,420 million.
Updated 2024 GAAP EPS guidance of $3.57 to $3.71 (prior $4.04 to $4.29); adjusted EPS guidance of $4.11 to $4.25 (prior $4.57 to $4.82).
Third-quarter 2024 results and conference call scheduled for October 30, 2024, at 9:00 a.m. ET.
A. O. Smith reported preliminary third-quarter 2024 sales of $903 million, down 4% from a year earlier, and diluted EPS of $0.82, down 9%. The company lowered its full-year 2024 EPS guidance to $3.70-$3.85 from $3.95-$4.10, citing weaker demand in China and North America water heaters, which matters to shareholders because it reduces expected profit for the year.
Preliminary Q3 2024 net sales were $902.6 million versus $937.5 million in Q3 2023, a 4% decline.
Preliminary Q3 2024 diluted EPS was $0.82 versus $0.90 a year earlier, a 9% decline.
Full-year 2024 EPS guidance was lowered to $3.70-$3.85 from $3.95-$4.10; sales guidance is now approximately flat year over year.
Final third-quarter results are scheduled for release on Oct. 22, 2024.
Sunstone Hotel Investors said a labor dispute at its 1,190-room Hilton San Diego Bayfront disrupted business from September and cancelled group events, so it now expects lower full-year 2024 results than its August outlook. The union ratified a renewed contract on October 9, 2024, and the hotel has resumed normal operations. Shareholders face a lower 2024 outlook, with a full update due with third-quarter results on November 12, 2024.
Full-year 2024 total portfolio RevPAR growth expected 125 to 150 basis points lower than prior outlook
Adjusted EBITDAre expected $11 million to $13 million lower; Adjusted FFO per diluted share about $0.06 lower
Union ratified renewed contract on October 9, 2024; hotel has resumed normal operations
Third-quarter 2024 earnings release scheduled for November 12, 2024
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