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).
StepStone Group LP, the operating subsidiary of StepStone Group Inc., issued $175 million of 5.52% Series A senior notes maturing October 22, 2029, under a note purchase agreement dated October 22, 2024. The company plans to use the proceeds for general corporate purposes, including investments, debt repayment and distributions, which adds fixed debt obligations for the firm.
Principal amount: $175 million; interest at 5.52%, paid semi-annually starting April 22, 2025
Notes mature October 22, 2029; prepayable at any time, subject to make-whole terms before April 22, 2029
Covenants include a maximum Total Net Leverage Ratio of 3.5 to 1.0 and a requirement that at least 80% of Management Fees be received without material deferral, waiver or reduction
Change of control triggers an offer to repurchase at 100% of principal plus accrued interest
Packaging Corporation of America reported third quarter 2024 net income of $238 million, or $2.64 per share, up from $183 million, or $2.03 per share, a year earlier, on net sales of $2.2 billion versus $1.9 billion. Excluding special items, diluted EPS was $2.65, and the company said results were $.20 above its third quarter guidance. The company expects fourth quarter 2024 earnings of $2.47 per share, which gives shareholders a near-term earnings outlook.
Third quarter net income was $238 million, or $2.64 per diluted share, versus $183 million, or $2.03, in the third quarter of 2023.
Third quarter net sales were $2.2 billion, compared with $1.9 billion a year earlier.
Results were $.20 per share above third quarter guidance of $2.45, mainly from higher volume and higher prices and mix in the Packaging segment.
Fourth quarter 2024 earnings are expected to be $2.47 per share, with higher operating and converting costs and lower corrugated shipments from two fewer shipping days.
OFG Bancorp said its Chief Strategy Officer, U.S. Business, Ganesh Kumar, will retire effective December 2, 2024, under a separation agreement signed October 18, 2024. The agreement provides a $1,353,413 severance payment and continued healthcare coverage, and it changes the vesting and settlement terms of some of his equity awards.
Ganesh Kumar, with the company for 20 years, retires as Chief Strategy Officer, U.S. Business, effective December 2, 2024.
Severance is a lump-sum cash payment of $1,353,413, due within seven days of the effective date.
Restricted units will not be forfeited on his departure, and prorated performance shares will settle at the estimated attainment level as of the most recent calendar quarter-end.
The full separation agreement will be filed with the Form 10-K for the fiscal year ending December 31, 2024.
JBT Corporation reported third-quarter 2024 revenue of $454 million, up 12%, with diluted EPS of $1.18, up 22%, and adjusted EPS of $1.50, up 35%. The company reiterated full-year 2024 guidance for revenue, adjusted EBITDA and adjusted EPS, but updated its GAAP guidance to reflect an expected $28 million to $32 million non-cash, pre-tax pension charge in the fourth quarter.
Q3 2024 revenue of $454 million rose 12%; income from continuing operations of $38 million rose 23%
Diluted EPS of $1.18 rose 22%; adjusted EPS of $1.50 rose 35%; adjusted EBITDA of $82 million rose 23%
Pension settlement expected to bring a $28 million to $32 million non-cash, pre-tax charge in Q4 2024; FY2024 GAAP EPS guidance is $3.60 to $3.90
Marel acquisition expected to close on or about the end of 2024; secured a $1.8 billion revolving credit facility and a $900 million Term Loan B in October 2024
Renasant reported third-quarter 2024 net income of $72.5 million, or $1.18 diluted EPS, up from $38.8 million and $0.69 in the second quarter, helped by a $38.95 million after-tax gain on the sale of its insurance agency. Adjusted diluted EPS was $0.70, down from $0.74 a year earlier, and the filing also reports that shareholders of Renasant and The First Bancshares approved their merger, with completion expected in the first half of 2025.
Net income $72.5 million in Q3 2024 vs. $38.8 million in Q2 2024 and $41.8 million in Q3 2023
Diluted EPS $1.18 (GAAP) and $0.70 (adjusted, non-GAAP) vs. $0.74 adjusted a year earlier
Shareholders approved the merger with The First Bancshares, Inc.; Renasant expects completion in the first half of 2025
Board approved a new $100.0 million stock repurchase program on October 22, 2024; no buybacks occurred in Q3 2024
Trustmark reported third quarter 2024 net income of $51.3 million, or $0.84 per diluted share, up 50.8% from $34.0 million a year earlier. Net income from adjusted continuing operations rose 26.7% from the second quarter to $51.3 million, while reported net income fell 30.5% linked-quarter because the second quarter included the sale of Fisher Brown Bottrell Insurance and related items. The company also declared a $0.23 quarterly dividend payable December 15, 2024.
Third quarter net income $51.3 million, diluted EPS $0.84, versus $34.0 million in third quarter 2023
Total revenue $192.3 million in the third quarter; net interest margin 3.69%, up 31 basis points linked-quarter
Second quarter reported net income of $73.8 million, diluted EPS $1.20, included discontinued operations from the FBBI sale
Quarterly cash dividend of $0.23 per share payable December 15, 2024, to holders of record on December 1, 2024
Coherent Corp. appointed Rob Beard as its Chief Legal and Global Affairs Officer and Corporate Secretary, effective October 21, 2024, replacing Chief Legal Officer Ron Basso, who is retiring. Basso remains with the company in a non-executive transitional role until his retirement on December 31, 2024. The filing describes a planned executive handover rather than a change in financial results or guidance.
Rob Beard's appointment took effect October 21, 2024, and he also serves as Corporate Secretary.
Beard joins from Mastercard, where he was Chief Legal and Global Affairs Officer, and previously spent nearly a decade at Micron Technology, including as General Counsel.
Ron Basso's executive officer role ended October 21, 2024; his retirement is effective December 31, 2024.
Marie Batz Martin was promoted to Chief Compliance Officer, reporting to Beard.
Weatherford reported third-quarter 2024 results on October 22, 2024, with revenue of $1,409 million, up 7% from a year earlier, and net income attributable to Weatherford of $157 million, up 28%. Diluted income per share was $2.06, compared with $1.66 in the third quarter of 2023. Management still expects strong revenue growth and adjusted EBITDA margins above 25% for the full year, while citing North America weakness and customer scheduling delays in Latin America.
Revenue of $1,409 million, up 7% year over year and 0.3% sequentially.
Net income attributable to Weatherford of $157 million; diluted income per share of $2.06 versus $1.66 a year earlier.
Adjusted EBITDA of $355 million, a 25.2% margin, down 3% sequentially but up 16% year over year.
Board declared a quarterly cash dividend of $0.25 per share, payable December 5, 2024, to shareholders of record as of November 6, 2024.
PennyMac Mortgage Investment Trust reported third-quarter 2024 net income attributable to common shareholders of $31.0 million, or $0.36 per diluted share, up from $15.0 million, or $0.17 per share, in the prior quarter. Book value per common share slipped to $15.85 from $15.89, and the company declared a $0.40 per share cash dividend payable October 25, 2024.
Net income attributable to common shareholders was $31.0 million, or $0.36 per diluted share, for the quarter ended September 30, 2024, compared with $15.0 million, or $0.17 per share, in the June 30, 2024 quarter.
Net investment income was $80.9 million, up from $71.2 million in the prior quarter but down from $163.4 million a year earlier.
Book value per common share decreased slightly to $15.85 at September 30, 2024, from $15.89 at June 30, 2024.
The $0.40 per share dividend will be paid October 25, 2024, to shareholders of record as of October 11, 2024.
Vicor reported third-quarter 2024 revenue of $93.2 million, down 13.6% from a year earlier but up 8.5% from the second quarter. Net income was $11.6 million, or $0.26 per diluted share, versus $16.6 million, or $0.37, a year earlier. For the nine months, the company posted a net loss of $4.1 million, or $0.09 per diluted share, after a $19.5 million litigation-contingency expense.
Q3 2024 revenue $93.2 million, down 13.6% year over year and up 8.5% from Q2 2024 ($85.9 million)
Q3 2024 net income $11.6 million, or $0.26 per diluted share, compared with $16.6 million, or $0.37, in Q3 2023
Nine-month 2024 net loss of $4.1 million, or $0.09 per share, including $19.5 million litigation-contingency expense
Backlog $150.6 million at September 30, 2024, down 13.8% year over year; cash and equivalents $267.6 million
Hanmi Financial reported third quarter 2024 net income of $14.9 million, or $0.49 per diluted share, up from $14.5 million, or $0.48 per diluted share, in the second quarter. Net interest margin rose to 2.74% from 2.69%, while credit loss expense increased to $2.3 million from $1.0 million, and criticized loans rose to $160.0 million.
Net income $14.9 million, or $0.49 per diluted share, versus $14.5 million, or $0.48, in Q2 2024
Net interest margin 2.74%, up five basis points from 2.69%; net interest income $50.1 million, up 2.9%
Credit loss expense $2.3 million versus $1.0 million in Q2 2024; criticized loans $160.0 million at September 30, 2024, up from $70.9 million
Bentley Systems entered a Second Amended and Restated Credit Agreement with PNC Bank, National Association, as administrative agent, on October 18, 2024. The facility provides a $1.3 billion revolving credit line, with an option to increase it by up to $500 million, and it matures on October 18, 2029. The agreement is secured by substantially all of the company's assets and includes quarterly leverage and interest coverage requirements.
Revolving facility of $1.3 billion, including $125 million in swingline loans and $125 million in letters of credit
Maturity date of October 18, 2029, with a springing maturity 91 days before the company's convertible debt matures unless liquidity requirements are met
Quarterly covenants require a Net Senior Secured Leverage Ratio no higher than 3.00 to 1.00 and a Minimum Interest Coverage Ratio of at least 3.00 to 1.00
Commitment fee on unused amounts ranges from 0.2% to 0.3% per year, based on the Net Leverage Ratio
Stride reported first-quarter fiscal 2025 results for the three months ended September 30, 2024, with revenue of $551.1 million, up 14.8%, and net income of $40.9 million, or $0.94 per diluted share, compared with $4.9 million, or $0.11, a year earlier. First-quarter enrollments rose 18.5% to 222.6K. The company also forecast full fiscal 2025 revenue of $2.225 billion to $2.300 billion and adjusted operating income of $395 million to $425 million, though the filing does not compare these forecasts with earlier ones.
Revenue of $551.1 million, up from $480.2 million, an increase of 14.8%
Net income of $40.9 million and diluted EPS of $0.94, versus $4.9 million and $0.11 a year earlier
Enrollments of 222.6K, up 18.5%; Career Learning enrollments of 91.7K, up 30.4%
Fiscal 2025 revenue outlook of $2.225 billion to $2.300 billion; second-quarter revenue outlook of $560 million to $580 million
National Bank Holdings Corporation (NBHC) reported third-quarter 2024 net income of $33.1 million, or $0.86 per diluted share, up from $26.1 million, or $0.68, in the second quarter but down from $36.1 million, or $0.94, a year earlier. Its board also approved a 3.6% increase in the quarterly cash dividend to $0.29 per share, payable December 13, 2024.
Q3 2024 net income $33.1 million, $0.86 per diluted share, versus $26.1 million, $0.68, in Q2 2024 and $36.1 million, $0.94, in Q3 2023.
Nine-month 2024 net income $90.6 million, $2.36 per diluted share, versus $108.9 million, $2.85, in the same period of 2023.
Quarterly dividend rises from $0.28 to $0.29 per share, payable December 13, 2024, to shareholders of record at the close of business on November 29, 2024.
Net interest margin widened 11 basis points to 3.87% in the quarter; non-performing loans were 0.31% of total loans at September 30, 2024.
Enphase Energy reported third-quarter 2024 revenue of $380.9 million, up from $303.5 million in the second quarter but below $551.1 million in the third quarter of 2023. GAAP net income was $45.8 million, compared with $113.95 million a year earlier, and GAAP diluted EPS was $0.33 versus $0.80. The company gave a fourth-quarter 2024 revenue outlook of $360.0 million to $400.0 million.
Q3 2024 revenue $380.9 million vs. $303.5 million in Q2 2024 and $551.1 million in Q3 2023
GAAP net income $45.8 million and GAAP diluted EPS $0.33; non-GAAP diluted EPS $0.65 vs. $1.02 in Q3 2023
Q4 2024 revenue outlook $360.0 million to $400.0 million, with 140 to 160 megawatt hours of IQ Battery shipments
Free cash flow $161.6 million; cash, cash equivalents and marketable securities $1.77 billion at September 30, 2024
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
East West Bancorp reported third-quarter 2024 net income of $299 million, or $2.14 per diluted share, up from $288 million and $2.06 in the second quarter and from $2.02 per share a year earlier. Revenue rose 3% to $657 million, and total assets grew to $74.5 billion. Shareholders also received notice of a $0.55 per share fourth-quarter dividend, while $49 million of the buyback authorization remains available.
Net income $299 million and diluted EPS $2.14, up 4% from the second quarter ($288 million and $2.06)
Revenue $657 million, up 3% from $638 million in the second quarter
Income tax expense $90 million, compared with $66 million in the third quarter of 2023, reflecting an expanded proportional amortization method application
Dividend of $0.55 per share payable November 15, 2024; $49 million of share repurchase authorization remains
Manhattan Associates reported third-quarter 2024 revenue of $266.7 million, up from $238.4 million a year earlier, and GAAP diluted EPS of $1.03 versus $0.79. The company also issued full-year 2024 guidance of $1,039 million to $1,041 million in revenue and $3.47 to $3.49 in GAAP EPS, and its board replenished buyback authority to $75.0 million, which matters to shareholders because it sets the company's expected earnings and capital return.
Q3 2024 revenue was $266.7 million, compared with $238.4 million in Q3 2023; cloud subscription revenue was $86.5 million, compared with $65.0 million.
GAAP diluted EPS was $1.03 for Q3 2024 versus $0.79; adjusted diluted EPS, a non-GAAP measure, was $1.35 versus $1.05.
2024 full-year guidance: total revenue of $1,039 million to $1,041 million and GAAP EPS of $3.47 to $3.49.
In October 2024 the board replenished the remaining share repurchase authority to $75.0 million; the company bought back $49.7 million of stock in Q3 2024.
Robert Half reported third-quarter 2024 results: net income of $65 million, or $0.64 per share, on revenues of $1.465 billion, down from $96 million, or $0.90 per share, on $1.564 billion a year earlier. Management said results exceeded its expectations, driven by Protiviti, but client budgets remain constrained, and the filing gives no updated guidance.
Q3 2024 net income $65 million ($0.64 per share) vs. $96 million ($0.90 per share) in Q3 2023
Q3 2024 revenues $1.465 billion vs. $1.564 billion in Q3 2023
Nine-month net income $197 million ($1.91 per share) vs. $324 million ($3.04 per share) a year earlier
Protiviti revenues were $511.3 million in Q3 2024 vs. $480.8 million in Q3 2023
Mueller Industries reported third quarter 2024 results for the quarter ended September 28, 2024, with net sales, net income and diluted EPS all higher than a year earlier. The company attributed the sales increase mainly to $102.4 million of sales from recently acquired businesses and higher copper prices, which matters to shareholders because profit rose on both measures.
Net sales were $997.8 million, up from $819.8 million in the third quarter of 2023.
Net income attributable to Mueller Industries was $168.7 million, up from $132.7 million; diluted EPS was $1.48 versus $1.17.
COMEX copper averaged $4.23 per pound, 12.0% higher than in the third quarter of 2023.
Cash and short-term investments were $969.6 million at quarter end, and net cash from operations was $231.4 million.
NVR reported third-quarter 2024 net income of $429.3 million, or $130.50 per diluted share, down 1% in net income but up 4% in diluted earnings per share from a year earlier. Revenue rose 6% to $2.73 billion, while the gross profit margin in homebuilding fell to 23.4% from 24.3%, which the company attributed to higher lot costs and closing cost assistance. The results show higher sales alongside slightly lower net profit for shareholders.
Third-quarter net income was $429.3 million, down 1% from $433.2 million; diluted EPS was $130.50, up 4% from $125.26.
Consolidated revenue was $2.73 billion, up 6% from $2.57 billion; new orders rose 19% to 5,650 units.
Homebuilding gross profit margin fell to 23.4% from 24.3%; mortgage banking segment pre-tax income fell 9% to $34.9 million.
Community Financial System reported third quarter 2024 net income of $43.9 million, or $0.83 per fully diluted share, compared with $44.1 million, or $0.82 per share, a year earlier. Total revenues rose 7.7% year over year to $188.9 million, but EPS fell $0.08 from the second quarter, and management cited a higher provision for credit losses.
Net income $43.9 million, or $0.83 per diluted share, vs $44.1 million, or $0.82, in Q3 2023; down $0.08 per share from Q2 2024 ($0.91)
Total revenues $188.9 million, up $13.6 million (7.7%) year over year; net interest income a record $112.7 million
Provision for credit losses $7.7 million in Q3 2024 vs $2.9 million in Q3 2023; nonperforming loans $62.8 million, or 0.61% of total loans
Quarterly dividend declared at $0.46 per share, up 2.2% from $0.45; no shares repurchased under the 2024 program in Q3
Equity LifeStyle Properties reported third-quarter 2024 results on October 21, 2024, with net income per share of $0.44, up 7.5% from $0.41, and Normalized FFO of $0.72 per share, up 4.9%. The company narrowed its full-year 2024 Normalized FFO guidance to $2.89 to $2.95 per share and gave preliminary 2025 rent increase assumptions, which matter to shareholders as indicators of expected cash flow from its properties.
Q3 2024 net income per common share was $0.44 versus $0.41 a year earlier; Normalized FFO per share was $0.72 versus $0.68.
Core property operating revenues rose 4.4% in the quarter, and Core MH base rental income rose 6.2%.
Full-year 2024 Normalized FFO guidance is $2.89 to $2.95 per share; preliminary 2025 MH rate increases average about 5.0% for roughly 50% of residents.
Freeport reported third-quarter 2024 net income attributable to common stock of $526 million, or $0.36 per share, up from $454 million, or $0.31 per share, a year earlier, on revenues of $6.79 billion versus $5.82 billion. The company also disclosed that an October 14, 2024 fire at a gas cleaning facility damaged sulphuric acid production infrastructure, and smelter operations at its new Indonesia downstream processing facilities have been temporarily suspended pending remediation.
Third-quarter revenues were $6.79 billion and operating income was $1.94 billion, compared with $5.82 billion and $1.49 billion in third-quarter 2023.
Adjusted net income attributable to common stock was $556 million, or $0.38 per share, after excluding net charges of $30 million, or $0.02 per share.
The October 14, 2024 fire at PT-FI's new smelter caused no injuries; the company will seek recovery of repair costs under its insurance programs.
Full-year 2024 consolidated sales are expected to approximate 4.1 billion pounds of copper, 1.8 million ounces of gold and 80 million pounds of molybdenum.
PACCAR reported third quarter 2024 net income of $972.1 million ($1.85 per diluted share), down from $1.23 billion ($2.34 per diluted share) a year earlier, on revenue of $8.24 billion versus $8.70 billion. Lower truck and financial services pretax income drove the decline, while parts pretax income was roughly flat. For shareholders, the quarter's earnings and revenue both fell year over year, though nine-month net income rose because the 2023 period included a $446.4 million after-tax European litigation charge.
Q3 2024 net income of $972.1 million ($1.85 per diluted share) vs. $1.23 billion ($2.34) in Q3 2023
Q3 2024 revenue of $8.24 billion vs. $8.70 billion in Q3 2023
Truck pretax income of $630.8 million vs. $960.9 million; PACCAR Parts $406.7 million vs. $412.3 million
Nine-month 2024 net income of $3.29 billion ($6.25 per diluted share) vs. $3.18 billion ($6.07) in 2023
On October 21, 2024, Atlantic Union Bankshares entered into an underwriting agreement for a registered public offering of 9,859,155 common shares and a related forward sale agreement covering the same number of shares, both with Morgan Stanley & Co. LLC. The underwriters then exercised in full their 30-day option to buy 1,478,873 additional shares, and the company entered into an additional forward sale agreement for that number of shares. The filing does not state the offering price or the proceeds, so shareholders can see the share count but not the financial terms in this filing.
Underwriting agreement dated October 21, 2024 covers 9,859,155 common shares, par value $1.33 per share.
Forward sale agreement with Morgan Stanley & Co. LLC covers 9,859,155 shares.
On October 21, 2024, underwriters exercised in full their 30-day option for 1,478,873 additional shares, with an Additional Forward Sale Agreement for the same number.
The filing does not disclose the offering price or proceeds.
Invesco reported third-quarter 2024 results on October 22, 2024. Operating revenues rose 2.2% from the prior quarter to $1.5 billion, but diluted EPS fell to $0.12 from $0.29 because of a one-time non-cash $147.6 million compensation expense tied to changes in retirement vesting criteria. Excluding that charge and other non-GAAP items, adjusted diluted EPS was $0.44, up from $0.43 in the second quarter.
Operating revenues were $1.5 billion, up 2.2% from $1.5 billion... (Q2-24: $1,483.3 million)
Diluted EPS was $0.12 versus $0.29 in Q2-24 and Q3-23; adjusted diluted EPS was $0.44 versus $0.43 in Q2-24
One-time non-cash acceleration of $147.6 million in compensation expense cut the GAAP operating margin to 6.6%
Net long-term inflows were $16.5 billion; the company repurchased 1.5 million shares for $25 million and declared a $0.205 per share common dividend payable December 3, 2024
PulteGroup reported third-quarter 2024 results on October 22, 2024, with diluted earnings per share of $3.35, up from $2.90 a year earlier, and net income of $698 million, up from $639 million. Home sale revenues rose 12% to $4.3 billion on a 12% increase in closings, but the home sale gross margin fell to 28.8% from 29.5%, so profit gains came alongside thinner margins.
Diluted EPS of $3.35 vs. $2.90 in the prior-year quarter, up 16%
Home sale revenues of $4.3 billion, up 12%, on 7,924 closings vs. 7,076
Home sale gross margin of 28.8% vs. 29.5% a year earlier
Repurchased $320 million of common shares in the quarter
Dime Community Bancshares reported third-quarter 2024 net income available to common stockholders of $11.5 million, or $0.29 per diluted share, down from $16.7 million, or $0.43, in the second quarter and $13.2 million, or $0.34, a year earlier. Net interest income and the net interest margin rose, but higher credit loss provisions and non-performing loans weighed on earnings, and management expects margin expansion and a relatively flat expense base in the fourth quarter.
Net income available to common stockholders was $11.5 million, or $0.29 per diluted share, versus $0.43 in Q2 2024 and $0.34 in Q3 2023.
Net interest income rose to $79.9 million from $75.5 million in Q2 2024, and net interest margin rose to 2.50% from 2.41%.
Credit loss provision was $11.6 million versus $5.6 million in Q2 2024; non-performing loans were $49.5 million versus $24.8 million.
Management expects continued net interest margin expansion in Q4 2024 and says it expects to keep the expense base relatively flat.
A. O. Smith reported third-quarter 2024 net sales of $902.6 million, down 4% from a year earlier, and diluted EPS of $0.82, down 9%. The company reaffirmed its revised 2024 EPS outlook of $3.70 to $3.85, after lowering its sales outlook to approximately flat versus 2023 on October 11, citing weak China demand and softer North America water heater volumes.
Q3 net sales were $902.6 million versus $937.5 million a year earlier; China third-party sales fell 17% in local currency.
Diluted EPS was $0.82 versus $0.90, and net earnings were $120 million, down 11%.
2024 EPS outlook reaffirmed at $3.70 to $3.85; sales outlook lowered to approximately flat versus 2023.
Pureit acquisition from Unilever for $120 million is on track to close by the end of 2024; dividend raised 6%.
BankUnited, Inc. reported third-quarter 2024 net income of $61.5 million, or $0.81 per diluted share, up from $53.7 million, or $0.72 per share, in the prior quarter and $47.0 million, or $0.63 per share, a year earlier. Net interest margin widened to 2.78% from 2.72%, but non-performing loans rose to 0.92% of total loans from 0.70%, mainly due to two commercial and industrial loans, so shareholders see higher profit alongside weaker credit indicators.
Net income $61.5 million; diluted EPS $0.81, versus $0.72 in the June 30, 2024 quarter and $0.63 a year earlier
Net interest margin 2.78% for the quarter, up from 2.72% in the prior quarter
Non-performing loans 0.92% of total loans at September 30, 2024, up from 0.70% at June 30, 2024
Book value per common share $37.56 at September 30, 2024, up from $36.11 at June 30, 2024
Pentair reported third-quarter 2024 sales of $993 million, down 2% from a year earlier, while GAAP diluted EPS rose 6% to $0.84 and adjusted EPS rose 16% to $1.09. The company raised its full-year 2024 adjusted EPS guidance to approximately $4.27 and set fourth-quarter adjusted EPS guidance of approximately $1.02, but revenue declined and full-year sales guidance was maintained at roughly flat to down 1%.
Q3 2024 sales of $993 million, down 2%; core sales declined 1%
GAAP diluted EPS of $0.84, up 6%; adjusted diluted EPS of $1.09, up 16%
Full-year 2024 adjusted EPS guidance raised to approximately $4.27; GAAP EPS guidance updated to approximately $3.70
Fourth-quarter 2024 sales expected at $965 million to $975 million, down 1% to 2%
Quest Diagnostics reported third-quarter 2024 net revenues of $2.49 billion, up 8.5% from a year earlier, and reported diluted EPS of $1.99, up 1.5%. The company raised its full-year 2024 revenue outlook to $9.80 billion to $9.85 billion, citing recent acquisitions including LifeLabs, while keeping the midpoint of its adjusted EPS outlook unchanged.
Q3 2024 net revenues $2.49 billion, up 8.5%; organic growth 4.2% per CEO Jim Davis
Q3 operating income $330 million, down 3.3% from $342 million; adjusted diluted EPS $2.30, up 3.6%
2024 revenue guidance raised to $9.80 billion–$9.85 billion from $9.50 billion–$9.58 billion
2024 reported diluted EPS guidance narrowed to $7.60–$7.70; adjusted EPS guidance $8.85–$8.95 from $8.80–$9.00
3M reported third-quarter 2024 results on October 22, 2024, with sales of $6.3 billion, up 0.4% year-on-year, and adjusted EPS of $1.98, up 18%. GAAP EPS from continuing operations was $2.48, compared with a loss of $4.56 a year earlier, which was driven by litigation costs. The company raised its full-year 2024 adjusted EPS outlook to $7.20 to $7.30 from $7.00 to $7.30, which is positive for shareholders, though operating cash flow was negative $1.8 billion after $3.6 billion in net after-tax litigation payments.
Q3 2024 sales of $6.3 billion, up 0.4% year-on-year; organic sales fell 0.1%
GAAP EPS of $2.48 vs. a loss of $4.56 in Q3 2023; adjusted EPS of $1.98, up 18%
Full-year 2024 adjusted EPS outlook raised to $7.20 to $7.30 from $7.00 to $7.30; adjusted organic sales growth forecast about 1%
Operating cash flow of $(1.8) billion, including $3.6 billion in net after-tax litigation payments; adjusted free cash flow of $1.5 billion
Banc of California reported a third-quarter 2024 net loss available to common stockholders of $1.2 million, or $0.01 per diluted share, compared with net earnings of $20.4 million, or $0.12 per diluted share, in the second quarter. The result includes a $60 million pre-tax loss from repositioning $742 million of securities, while adjusted net earnings were $41.4 million, or $0.25 per diluted share, and net interest margin rose to 2.93%.
GAAP net loss available to common stockholders of $1.2 million, or $0.01 per diluted share, for Q3 2024, versus $20.4 million, or $0.12, in Q2 2024
Adjusted net earnings of $41.4 million, or $0.25 per diluted share, include a $60 million pre-tax loss on the securities repositioning
Net interest margin increased 13 basis points to 2.93%; total revenue was $216.7 million versus $259.3 million in Q2
Nonperforming assets rose to $177.0 million, or 0.53% of total assets, from $130.4 million at June 30, 2024
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.