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).
Helix Energy Solutions reported third quarter 2024 net income of $29.5 million, or $0.19 per diluted share, up from $15.6 million in the third quarter of 2023 but down from $32.3 million in the second quarter of 2024. Revenue fell to $342.4 million from $395.7 million a year earlier, and adjusted EBITDA was $87.6 million compared with $96.4 million, so shareholders see higher year-over-year profit alongside lower sales and EBITDA.
Net income $29.5 million, or $0.19 per diluted share, versus $32.3 million ($0.21) in Q2 2024 and $15.6 million ($0.10) in Q3 2023.
Revenue of $342.4 million versus $395.7 million in Q3 2023 and $364.8 million in Q2 2024.
Adjusted EBITDA of $87.6 million versus $96.4 million in Q3 2023 and $96.9 million in Q2 2024.
Cash and cash equivalents were $324.1 million on September 30, 2024, and Net Debt was negative $9.4 million; three well intervention contracts added over $800 million to backlog.
NewMarket reported third-quarter 2024 net income of $132.3 million, or $13.79 per share, up from $111.2 million, or $11.60 per share, a year earlier. Net sales rose to $724.9 million from $667.2 million, helped by the AMPAC acquisition, while petroleum additives operating profit increased to $157.5 million.
Q3 2024 net income $132.3 million, EPS $13.79, versus $111.2 million and $11.60 in Q3 2023
Q3 2024 net sales $724.9 million versus $667.2 million; petroleum additives sales $663.0 million versus $663.7 million
Petroleum additives operating profit $157.5 million versus $139.8 million, mainly due to lower raw material and operating costs
Net Debt to EBITDA was 1.4 at September 30, 2024; earnings call set for 3:00 p.m. ET on October 24, 2024
Oceaneering reported third-quarter 2024 net income of $41.2 million, or $0.40 per diluted share, on revenue of $680 million, compared with net income of $29.8 million, or $0.29 per share, on revenue of $635 million a year earlier. The company revised its full-year 2024 adjusted EBITDA guidance to $340 million to $350 million and gave initial 2025 consolidated EBITDA guidance of $400 million to $430 million.
Q3 2024 net income $41.2 million and diluted EPS $0.40, versus $29.8 million and $0.29 in Q3 2023
Q3 2024 revenue $680 million, up from $635 million a year earlier; adjusted net income was $37.2 million, or $0.36 per share
Revised 2024 consolidated adjusted EBITDA guidance of $340 million to $350 million; initial 2025 consolidated EBITDA guidance of $400 million to $430 million
Repurchased 422,229 shares for approximately $10 million in the quarter, the first share repurchases since 2015
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.
ASGN Incorporated reported third-quarter 2024 revenue of $1.031 billion, down from $1.12 billion a year earlier, and net income of $47.5 million, or $1.06 per diluted share, versus $59.4 million, or $1.23 per share, in the third quarter of 2023. Its fourth-quarter 2024 estimates of $990.0 million to $1.01 billion in revenue and $0.88 to $0.94 in diluted EPS are both below third-quarter results. Note: the request named Everforth Inc (EFOR), but this filing is from ASGN Incorporated (NYSE: ASGN).
Q3 2024 revenue was $1.031 billion versus $1.12 billion in Q3 2023; Commercial Segment revenue was $718.8 million versus $782.4 million
Net income was $47.5 million ($1.06 per diluted share) versus $59.4 million ($1.23) a year earlier
Q4 2024 estimates: revenue $990.0 million to $1,010.0 million; diluted EPS $0.88 to $0.94
In Q3 2024 the company repurchased 1.0 million shares for $95.6 million; $572.9 million remained under its repurchase plan
Monarch Casino & Resort reported third-quarter 2024 net revenue of $137.9 million, up 3.7% from a year earlier, and net income of $27.6 million, up 14.2%. The company also declared a $0.30 per share cash dividend payable December 15, 2024, to holders of record on December 1, 2024.
Net revenue was $137.9 million, up 3.7% from $133.0 million in the third quarter of 2023.
Diluted earnings per share were $1.47, up 19.5% from $1.23.
Adjusted EBITDA was $50.6 million, up 2.9%; casino operating expense rose to 36.3% of casino revenue from 34.5%.
Cash dividend of $0.30 per share is payable December 15, 2024, to stockholders of record on December 1, 2024.
Essential Properties Realty Trust reported third quarter 2024 results, with total revenues of $117.1 million, up from $91.7 million a year earlier, and diluted net income per share of $0.27, down from $0.29. It also issued 2025 AFFO per share guidance of $1.84 to $1.89 and reiterated its 2024 AFFO guidance of $1.72 to $1.75. Revenue and AFFO growth contrast with lower per-share net income, which shareholders will weigh alongside the new 2025 outlook.
Total revenues $117.1 million for the quarter, versus $91.7 million in the third quarter of 2023
Diluted net income per share $0.27, versus $0.29; AFFO per share $0.43, up 2%
Investments of $307.6 million at a weighted average cash cap rate of 8.1% in the quarter
2025 AFFO per share guidance $1.84 to $1.89; 2024 guidance reiterated at $1.72 to $1.75
Morningstar reported third-quarter 2024 revenue of $569.4 million, up 10.5% from a year earlier, and diluted net income per share of $2.77, up 204.4%. The EPS figure includes a $1.05 per-share gain from the sale of its Commodity and Energy Data business; adjusted diluted EPS was $2.00, up 56.3%. The company also said CFO Jason Dubinsky will step down effective December 31, 2024, and then serve as a consultant through June 30, 2025.
Revenue rose 10.5% to $569.4 million; organic revenue grew 10.1%.
Operating income rose 65.0% to $115.5 million; adjusted operating income rose 41.6% to $130.3 million.
Diluted EPS was $2.77 including a $45.3 million gain on the business sale; adjusted diluted EPS was $2.00.
Jason Dubinsky will leave the CFO role effective December 31, 2024, and consult through June 30, 2025.
MSA Safety reported third-quarter 2024 results with net sales of $433 million, down 3% from a year earlier, while GAAP diluted EPS rose 2% to $1.69 and adjusted diluted EPS rose 3% to $1.83. The company expects mid-single-digit sales growth in the fourth quarter, which it says would produce low-single-digit sales growth for the full year. Shareholders get a mixed picture: earnings per share grew on a lower sales base, and management's outlook points to a sales rebound in the final quarter.
Q3 net sales were $433 million, down 3% year over year; GAAP operating income was $91 million, down from $94 million.
GAAP net income was $67 million, or $1.69 per diluted share, versus $1.65 a year earlier; adjusted diluted EPS was $1.83 versus $1.78.
Management attributed the sales decline to the timing of self-contained breathing apparatus shipments and specific customer order delays.
The company expects mid-single-digit sales growth in Q4 2024, resulting in low-single-digit full-year growth; it will hold a conference call on October 24, 2024.
Plexus reported fiscal fourth-quarter 2024 revenue of $1.05 billion and GAAP diluted EPS of $1.48, up from $1.44 a year earlier, with record quarterly free cash flow of $194 million. For the full fiscal year, revenue fell to $3.96 billion from $4.21 billion and GAAP diluted EPS fell to $4.01 from $4.95, and first-quarter fiscal 2025 revenue guidance of $960 million to $1.00 billion sits below the fourth-quarter result.
Q4 fiscal 2024 revenue was $1.05 billion and GAAP diluted EPS was $1.48, compared with $1,023.9 million and $1.44 in the year-earlier quarter.
Fiscal 2024 revenue was $3.96 billion versus $4.21 billion, and GAAP diluted EPS was $4.01 versus $4.95.
Fiscal first-quarter 2025 guidance calls for revenue of $960 million to $1.00 billion and GAAP diluted EPS of $1.25 to $1.40.
Fiscal 2024 free cash flow was a record $341 million, and the 2025 share repurchase program authorizes an additional $50.0 million.
Textron announced that Chief Financial Officer Frank Connor will retire effective February 28, 2025. David Rosenberg, the company's Vice President of Investor Relations, will succeed him as Executive Vice President and Chief Financial Officer effective March 1, 2025, with an annual base salary of $850,000 and a target incentive of 100% of salary. For shareholders, this is a planned transition of the top finance role, with the new CFO previously serving as CFO of Textron Aviation from 2018 to 2023 per the filing.
Frank T. Connor, Executive Vice President and CFO, retires effective February 28, 2025
David Rosenberg, currently Vice President of Investor Relations, becomes EVP and CFO effective March 1, 2025
Rosenberg's compensation: $850,000 annual base salary, 100% target annual incentive, 250% target long-term incentive award
Scott Hegstrom, VP Strategy and Mergers & Acquisitions, becomes VP Investor Relations effective March 1, 2025
Wyndham Hotels & Resorts reported third-quarter 2024 results on October 23, 2024. Diluted EPS rose 7% to $1.29, and the company raised its full-year 2024 adjusted diluted EPS outlook to $4.22-$4.34 from $4.20-$4.32, while net income and fee-related revenues both fell slightly from the prior-year quarter.
Diluted EPS was $1.29 versus $1.21 a year earlier; net income was $102 million versus $103 million.
Fee-related and other revenues were $394 million versus $400 million, which included $18 million of pass-through revenue in the 2023 quarter.
Full-year 2024 adjusted diluted EPS outlook raised to $4.22-$4.34 from $4.20-$4.32; other outlook items unchanged.
Company returned $126 million to shareholders in the quarter, including $97 million of share repurchases.
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%.
Tyler Technologies reported third quarter 2024 results for the period ended September 30, 2024, with total revenues of $543.3 million, up 9.8%, and GAAP diluted earnings per share of $1.74, up from $1.10 a year earlier. The company also revised its full-year 2024 guidance, but the filing does not state whether the new ranges are higher or lower than the prior ones.
Total revenues $543.3 million, up 9.8%; SaaS revenues up 20.3% to $166.6 million
GAAP net income $75.9 million, or $1.74 per diluted share, up 61.4%; non-GAAP EPS $2.52, up 20.0%
Free cash flow $252.9 million, up 55.5%
Full-year 2024 revenue guidance now $2.125 billion to $2.145 billion; GAAP EPS $6.13 to $6.28
ARMOUR Residential REIT reported unaudited Q3 2024 results, with GAAP net income available to common stockholders of $62.9 million, or $1.21 per share, after a Q2 loss. Distributable Earnings per common share fell to $1.00 from $1.08 in Q2, and net interest income dropped to $1.8 million from $7.0 million, so the quarter's improvement came mainly from the GAAP line rather than the company's distributable measure.
GAAP net income available to common stockholders of $62.9 million, or $1.21 per share, versus a loss of $51.3 million, or $1.05 per share, in Q2 2024.
Distributable Earnings available to common stockholders of $52.0 million, or $1.00 per share, versus $52.5 million, or $1.08 per share, in Q2 2024.
Book value per common share rose to $20.76 at September 30, 2024, from $20.30 at June 30, 2024.
Common dividend of $0.24 per share per month in Q3; a $0.24 dividend was declared for payment on November 27, 2024.
Stewart Information Services reported third quarter 2024 total revenues of $667.9 million, up from $601.7 million a year earlier, and net income attributable to Stewart of $30.1 million, or $1.07 per diluted share, versus $14.0 million, or $0.51, in the prior-year quarter. The filing attaches a press release with results for the three months ended September 30, 2024, and does not include new guidance.
Net income attributable to Stewart was $30.1 million, or $1.07 per diluted share, compared with $14.0 million, or $0.51, in Q3 2023.
Adjusted diluted EPS was $1.17, compared with $0.86 a year earlier.
Title segment operating revenues rose $31.2 million, or 6 percent; real estate solutions revenues rose 41 percent to $96.3 million.
An earnings conference call is scheduled for 8:30 a.m. Eastern Time on October 24, 2024.
Impinj reported third-quarter 2024 revenue of $95.2 million, up from $65.0 million a year earlier, and GAAP net income of $0.2 million, compared with a GAAP net loss of $15.8 million in the prior-year quarter. The company said results were well above its guidance, and it issued fourth-quarter revenue guidance of $91.0 million to $94.0 million with a GAAP net loss expected between $3.8 million and $2.3 million.
Q3 2024 revenue was $95.2 million, versus $65.0 million in Q3 2023.
GAAP net income was $0.2 million, or $0.01 per diluted share, versus a GAAP loss of $0.59 per share a year earlier.
Q4 2024 guidance: revenue of $91.0 million to $94.0 million; GAAP net loss per share of $0.14 to $0.08 (basic and diluted).
Adjusted EBITDA was $17.3 million, versus $257,000 in the prior-year quarter.
Greenbrier reported fourth-quarter fiscal 2024 net earnings of $62 million, or $1.92 per diluted share, on revenue of $1.1 billion, up from $33.9 million, or $1.06 per share, in the third quarter. For the year ended August 31, 2024, net earnings attributable to Greenbrier were $160 million, or $4.96 per diluted share, compared with $62.5 million, or $1.89 per share, in fiscal 2023, while annual revenue fell to $3.5 billion from $3.9 billion. The company also issued fiscal 2025 guidance of $3.35 billion to $3.65 billion in revenue and a 16.0% to 16.5% aggregate gross margin.
Q4 fiscal 2024 net earnings were $62 million, or $1.92 per diluted share, versus $33.9 million, or $1.06 per share, in Q3.
Fiscal 2024 revenue was $3.5 billion, down from $3.9 billion in fiscal 2023, while net earnings rose to $160 million from $62.5 million.
Fiscal 2025 guidance calls for revenue of $3.35 billion to $3.65 billion, 22,500 to 25,000 railcar deliveries, and a 16.0% to 16.5% aggregate gross margin.
Board declared a quarterly dividend of $0.30 per share, payable November 27, 2024 to holders of record as of November 6, 2024.
Century Communities reported third quarter 2024 results for the period ended September 30, 2024, with home sales revenues of $1.1 billion, up 29% from a year earlier, and net income of $83.0 million, or $2.59 per diluted share, roughly flat with the prior year. The company raised its full-year 2024 guidance for home deliveries and home sales revenues, but its homebuilding debt to capital ratio rose to 35.8% from 31.1% at June 30, 2024.
Home sales revenues of $1.1 billion rose 29% year over year, and deliveries of 2,834 homes rose 25%.
Net income was $83.0 million, or $2.59 per diluted share, compared with $83.2 million, or $2.58 per diluted share, a year earlier.
Full-year 2024 guidance raised to 10,900 to 11,300 home deliveries and $4.3 to $4.4 billion in home sales revenues.
Homebuilding debt to capital was 35.8% at September 30, 2024, up from 31.1% at June 30, 2024.
Raymond James reported record net revenues of $3.46 billion and net income available to common shareholders of $601 million, or $2.86 per diluted share, for the fiscal fourth quarter ended September 30, 2024. For fiscal 2024, net income available to common shareholders rose 19% to $2.06 billion, and the firm repurchased 7.7 million shares for $900 million.
Fiscal Q4 2024 net revenues of $3.46 billion, up 13% from the prior year's fourth quarter
Fiscal Q4 diluted EPS of $2.86, compared with $2.02 a year earlier
Fiscal 2024 net revenues of $12.82 billion, up 10%; diluted EPS of $9.70, up 22%
Fiscal 2024 share repurchases of 7.7 million shares for $900 million, leaving about $645 million under the authorization
Addus HomeCare Corporation entered into a Fourth Amendment to its credit agreement on October 22, 2024, with Capital One, National Association, as administrative agent. The amendment increases the revolving credit facility to $650 million and the incremental loan facility to $150 million, and extends the facility's maturity from July 30, 2026 to July 30, 2028. For shareholders, the filing shows expanded borrowing capacity and a longer debt maturity runway, but it does not state how much has been drawn.
Revolving credit facility increased to an aggregate $650 million
Incremental loan facility increased to an aggregate $150 million
Maturity extended from July 30, 2026 to July 30, 2028
Amendment dated October 22, 2024; the 8-K was filed October 23, 2024
Moelis & Company reported third quarter 2024 results, with GAAP revenues of $273.8 million and GAAP net income of $19.2 million, or $0.22 per diluted share, compared with a GAAP net loss of $11.4 million in the prior-year quarter. The company also declared a regular quarterly dividend of $0.60 per share, which shareholders of record on November 4, 2024 will receive on December 2, 2024.
Third quarter GAAP revenues were $273.8 million, up from $272.2 million a year earlier; adjusted revenues were $280.7 million, up 1%
GAAP net income was $19.2 million, or $0.22 per diluted share, versus a net loss of $11.4 million in Q3 2023
First nine months 2024 GAAP revenues were $755.8 million; adjusted revenues rose 18% from the prior-year period
Quarterly dividend of $0.60 per share, payable December 2, 2024 to holders of record on November 4, 2024
Annaly Capital Management reported GAAP net income of $0.05 per average common share for the quarter ended September 30, 2024, compared with a loss of $0.09 per share in the prior quarter. Earnings available for distribution (EAD) was $0.66 per share, down from $0.68 in the second quarter, and the company declared a quarterly common dividend of $0.65 per share. Book value per common share rose to $19.54 from $19.25 at June 30, 2024.
GAAP net income of $0.05 per share for Q3 2024, versus a loss of $0.09 per share in Q2 2024
EAD of $0.66 per share, down from $0.68 in Q2 2024 and flat with $0.66 a year earlier
Book value per common share of $19.54, up from $19.25 at June 30, 2024
Quarterly common dividend of $0.65 per share declared; earnings call scheduled for October 24, 2024 at 9:00 a.m. Eastern Time
First American Financial Corporation reported a third-quarter 2024 net loss of $104 million, or $1.00 per diluted share, compared with a net loss of $2 million, or 2 cents per share, a year earlier. Total revenue fell 5 percent to $1.4 billion, mainly because of $312 million in net investment losses tied to an investment portfolio rebalancing project. Adjusted earnings rose to $1.34 per diluted share from $1.22, and management said it is cautiously optimistic about 2025.
Net loss of $104 million, or $1.00 per diluted share, versus $2 million, or 2 cents, in Q3 2023
Adjusted EPS of $1.34, up from $1.22; total revenue of $1.4 billion, down 5 percent
Net investment losses of $312 million, or $2.28 per diluted share, mainly from the portfolio rebalancing
Common stock dividend raised 2 percent to an annual rate of $2.16 per share
St. Joe reported third-quarter 2024 total revenue of $99.0 million, down 2% from $101.4 million, and net income attributable to the company of $16.8 million, down 13% from $19.4 million. Real estate revenue fell 32%, while hospitality and leasing revenue rose 17% and 19%. Chairman Bruce R. Berkowitz retired from the board effective October 23, 2024, and CEO Jorge L. Gonzalez became chairman.
Q3 2024 total revenue was $99.0 million versus $101.4 million; net income was $16.8 million, or $0.29 per share, versus $19.4 million, or $0.33 per share.
Real estate revenue fell 32% to $28.0 million, while hospitality revenue rose 17% to $55.4 million and leasing revenue rose 19% to $15.6 million.
Bruce R. Berkowitz retired as chairman effective October 23, 2024; Jorge L. Gonzalez was named chairman and Howard S. Frank was named Independent Lead Director.
The board declared a quarterly cash dividend of $0.14 per share, payable December 6, 2024, to shareholders of record on November 7, 2024.
Ameriprise Financial reported third-quarter 2024 results on October 23, 2024. Adjusted operating earnings per diluted share rose 17% to $9.02 excluding unlocking and severance expense, while GAAP net income per diluted share fell to $5.00 from $8.14, mainly due to market impacts on derivatives and market risk benefits. For shareholders, the GAAP decline is large, but the company also returned $713 million of capital in the quarter.
Adjusted operating EPS was $8.10, up 16% from $6.96; excluding unlocking and severance, it was $9.02, up 17% from $7.74.
GAAP net income was $511 million, down 41% from $872 million a year earlier.
Total net revenues were $4.4 billion on a GAAP basis, up 12%.
The company returned $713 million to shareholders in the quarter, including $563 million of share repurchases and $150 million of dividends.
ServiceNow reported third-quarter 2024 total revenues of $2,797 million, up 22% year over year, and GAAP net income of $432 million, or $2.07 per diluted share, compared with $242 million, or $1.17, a year earlier. The company raised its full-year 2024 GAAP subscription revenue guidance to $10,655 million to $10,660 million and named Amit Zavery president, chief product officer and chief operating officer, effective October 28, 2024.
Q3 2024 total revenues of $2,797 million, up 22% year over year; subscription revenues of $2,715 million, up 23%
GAAP net income of $432 million, or $2.07 per diluted share, versus $242 million, or $1.17, in Q3 2023
Full-year 2024 GAAP subscription revenue guidance raised to $10,655 million to $10,660 million
Amit Zavery appointed president, chief product officer and chief operating officer, effective October 28, 2024
Pathward Financial reported fiscal fourth-quarter net income of $33.6 million, or $1.35 per share, compared with $35.9 million, or $1.36 per share, a year earlier, while total revenue rose 4% to $167.9 million. For the full fiscal year, net income rose to $168.4 million, or $6.62 per share, from $5.99 per share, and the CEO said that figure was just above the high end of updated guidance.
Fourth-quarter net income was $33.6 million, or $1.35 per share, versus $35.9 million, or $1.36 per share, in the prior-year quarter.
Fourth-quarter total revenue was $167.9 million, up $6.9 million or 4%, while noninterest income fell 7% to $52.0 million.
Fiscal 2024 earnings were $6.62 per diluted share, up 11% from $5.99, and the CEO said this was just above the high end of updated guidance.
The sale of the commercial insurance premium finance business was announced August 28, 2024, and is expected to close by October 31, 2024.
SEI reported third-quarter 2024 revenue of $537.4 million, up 13% from a year earlier, and diluted earnings per share of $1.19, up from $0.87. Results included a one-time $8.2 million gain on a New York property sale and an approximately $5.3 million LSV performance fee. On October 22, 2024, the board raised the stock repurchase authorization by $400 million to approximately $429 million, which includes $29 million remaining under the prior authorization.
Revenue of $537.4 million, up 13% from $476.8 million; operating margin of 26.8% versus 22.8%.
Diluted EPS of $1.19 versus $0.87; the $8.2 million property gain added $0.05 per share.
Net sales events of $46.4 million, the highest level for any single quarter in company history.
Board approved an additional $400 million repurchase authority on October 22, 2024; SEI bought back 1.3 million shares for $85.8 million in the quarter.
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.
Pegasystems reported third-quarter 2024 revenue of $325.1 million, down 3% from $334.6 million a year earlier, and a GAAP net loss of $14.4 million, or $0.17 per diluted share, compared with a $7.3 million loss, or $0.09 per share, a year earlier. Non-GAAP diluted earnings per share fell 11% to $0.39, and shareholders are seeing lower revenue and profit even as annual contract value grew 16%.
Q3 2024 total revenue was $325.1 million, down 3% from $334.6 million in Q3 2023.
GAAP diluted loss per share was $0.17 versus $0.09 a year earlier; non-GAAP diluted EPS was $0.39 versus $0.44.
Annual contract value (ACV) reached $1.36 billion at September 30, 2024, up 16% year over year (14% in constant currency).
Pega Cloud ACV grew 30% year over year, and free cash flow was $246 million for the first nine months of 2024.
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.
Churchill Downs reported third-quarter 2024 results for the period ended September 30, 2024, with net revenue, net income attributable to the company, and Adjusted EBITDA all above the year-earlier quarter. The company also said its board approved a $0.409 per share annual dividend, a seven percent increase and the fourteenth consecutive annual increase, payable January 3, 2025.
Net revenue was $628.5 million in the third quarter of 2024, compared with $572.5 million a year earlier.
Net income attributable to the company was $65.4 million, or $0.86 per diluted share, compared with $61.0 million, or $0.79 per diluted share, in the third quarter of 2023.
Adjusted EBITDA was $235.3 million, compared with $218.2 million in the third quarter of 2023.
The board approved a $0.409 annual dividend per share, payable January 3, 2025, to shareholders of record as of December 6, 2024.
Rollins reported unaudited third-quarter 2024 results, with revenue of $916 million, up 9.0%, and GAAP EPS of $0.28 compared with $0.26 a year earlier. Operating margin fell 20 basis points to 20.9%, which the company attributed to growth investments that offset gross margin gains. The company also said Gary W. Rollins will move to Executive Chairman Emeritus and John F. Wilson will become Executive Chairman, effective January 1, 2025.
Revenue was $916 million, up 9.0%; organic revenue rose 7.7%.
GAAP EPS was $0.28 per diluted share vs $0.26; net income was $137 million, up 7.1%.
Operating margin was 20.9%, down 20 basis points; adjusted EPS was $0.29, up 3.6%.
Effective January 1, 2025, John F. Wilson becomes Executive Chairman; Gary W. Rollins becomes Executive Chairman Emeritus.
Align Technology reported third-quarter 2024 revenue of $977.9 million, up 1.8% year-over-year but down 4.9% from the second quarter, and GAAP diluted EPS of $1.55 versus $1.58 a year earlier. The company also announced a restructuring plan with about $30 million in Q4 severance charges and expects to repurchase up to $275.0 million of stock beginning in Q4 2024, while guiding Q4 revenue to $995 million to $1,015 million.
Q3 2024 revenue $977.9 million, up 1.8% year-over-year; Clear Aligner revenue down 1.0% year-over-year; Imaging Systems and CAD/CAM Services up 15.6%
GAAP diluted EPS $1.55 vs $1.58 in Q3 2023; non-GAAP diluted EPS $2.35 vs $2.14
Restructuring charges of about $30 million expected in Q4 2024, roughly 3 points of operating margin; Raj Pudipeddi to leave in Q4 2024
Q4 2024 revenue outlook $995 million to $1,015 million; GAAP operating margin expected slightly lower than 14.0%
MaxLinear reported third-quarter 2024 net revenue of $81.1 million, down 12% from the prior quarter and down 40% from a year earlier, and a GAAP net loss of $75.8 million, or $0.90 per diluted share. The company also gave fourth-quarter 2024 net revenue guidance of approximately $80 million to $100 million, and the weaker revenue and larger loss matter to shareholders.
Q3 2024 GAAP net loss was $75.8 million, or $0.90 per diluted share, compared with $0.47 in the prior quarter and $0.49 a year earlier
Non-GAAP diluted loss per share was $0.36, compared with a loss of $0.25 in the prior quarter
Q4 2024 net revenue is expected to be approximately $80 million to $100 million, with GAAP gross margin of about 54.0% to 57.0%
GAAP restructuring charges were $26.8 million in Q3 2024, versus $865,000 in the prior quarter
First Bancorp reported third-quarter 2024 net income of $18.7 million, or $0.45 per diluted share, down from $28.7 million, or $0.70, in the prior quarter and $29.9 million, or $0.73, a year earlier. The results include $13.4 million in pre-tax Hurricane Helene impacts, mainly a $13.0 million provision for potential credit losses, and excluding these items adjusted net income was $29.0 million, or $0.70 per share. For shareholders, the reported decline reflects the storm-related provision, while capital ratios rose during the quarter.
Q3 2024 net income $18.7 million, $0.45 per diluted share, versus $28.7 million ($0.70) in Q2 2024 and $29.9 million ($0.73) in Q3 2023
Hurricane Helene impacts totaled $13.4 million pre-tax ($10.3 million after taxes); provision for credit losses was $14.2 million
Adjusted net income was $29.0 million, or $0.70 per diluted share, for Q3 2024; nine-month net income was $72.7 million, or $1.76 per share, versus $74.5 million, or $1.81, a year earlier
Total common equity tier 1 ratio rose to 14.34% (estimated) at September 30, 2024, from 13.99% at June 30, 2024
Heritage Financial Corporation (HFWA) said Nicholas Bley will become Executive Vice President and Chief Operating Officer of Heritage Bank and Executive Vice President of Heritage, effective October 28, 2024. The filing describes an employment agreement with a $400,008 base salary and a $300,000 signing bonus, which matters to shareholders as a senior executive hire with defined pay and severance terms.
Role effective October 28, 2024; employment agreement dated July 23, 2024, runs through June 30, 2027
Annual base salary of $400,008; one-time signing bonus of $300,000 payable January 15, 2025
Target annual cash incentive of 40% of base salary; one-time restricted stock unit award with grant value of approximately $350,000
Bley previously held various titles at JPMorgan Chase & Co., most recently Managing Director and Commercial Real Estate Senior Regional Sales Manager
AMERISAFE reported third-quarter 2024 net income of $14.3 million, or $0.75 per diluted share, up from $9.961 million, or $0.52, a year earlier. Operating earnings per share fell to $0.58 from $0.61, and the company also declared a $3.00 per share special dividend plus a $0.37 regular dividend, both payable December 13, 2024. The special dividend returns excess capital directly to shareholders.
Q3 2024 net income was $14.3 million, up 43.8%; diluted EPS was $0.75 versus $0.52.
Operating EPS was $0.58, down 4.9% from $0.61 in Q3 2023.
Net premiums earned rose 0.6% to $67.1 million; net combined ratio was 90.9% versus 90.6%.
Special dividend of $3.00 per share and regular dividend of $0.37 per share are payable December 13, 2024, to holders of record December 6, 2024.
First BanCorp. reported third-quarter 2024 net income of $73.7 million, or $0.45 per diluted share, down from $75.8 million, or $0.46, in the second quarter and $82.0 million, or $0.46, a year earlier. Net interest income rose to $202.1 million, but a higher provision for credit losses of $15.2 million and non-interest expenses of $122.9 million reduced pre-tax income to $96.4 million, which matters to shareholders because it lowered reported profit per share compared with the prior quarter.
Net income of $73.7 million, or $0.45 per diluted share, versus $75.8 million, or $0.46, in Q2 2024 and $82.0 million, or $0.46, in Q3 2023
Net interest income of $202.1 million, up from $199.6 million; net interest margin rose to 4.25% from 4.22%
Provision for credit losses of $15.2 million, up from $11.6 million; non-interest expenses of $122.9 million, up from $118.7 million
Repurchased $50.0 million of junior subordinated debentures and paid $26.1 million in common stock dividends during the quarter
Capitol Federal Financial, Inc. reported results for the fourth quarter and fiscal year ended September 30, 2024, and declared a quarterly cash dividend of $0.085 per share. Quarterly net income rose from $9.6 million to $12.1 million, mainly because the bank recorded a release of credit loss provisions instead of an expense. Fiscal year net income was $38.0 million, compared with a net loss of $101.7 million in the prior year, which included a securities strategy loss.
Q4 net income of $12.1 million, or $0.09 per share, versus $9.6 million, or $0.07 per share, in the June 30, 2024 quarter
Net interest margin of 1.80% for the quarter, up from 1.77%
Fiscal year net income of $38.0 million, or $0.29 per share, versus a net loss of $101.7 million, or $(0.76) per share, in fiscal 2023
Quarterly cash dividend of $0.085 per share, payable November 15, 2024, to holders of record as of November 1, 2024
PROG Holdings reported third-quarter 2024 revenue of $606.1 million, up 4.0% from a year earlier, and net earnings of $84.0 million versus $35.0 million, though the gain was driven mainly by a $53.6 million non-cash tax benefit. Adjusted EBITDA fell to $63.5 million from $71.7 million, and non-GAAP diluted EPS fell to $0.77 from $0.90. The company raised its full-year 2024 revenue and net earnings outlook.
Q3 2024 revenue $606.1 million (up 4.0%); GAAP diluted EPS $1.94 vs. $0.76; non-GAAP diluted EPS $0.77 vs. $0.90
Net earnings included a $53.6 million non-cash, net tax benefit from reversing an uncertain tax position
Full-year 2024 revenue outlook raised to $2.44 billion-$2.46 billion from $2.40 billion-$2.45 billion; net earnings outlook raised to $165.5 million-$170.5 million from $110.5 million-$116.0 million
Old Dominion reported third quarter 2024 revenue of $1.47 billion, down 3.0% from a year earlier, and diluted earnings per share of $1.43, down 7.1%. The company said softness in the domestic economy and a higher operating ratio of 72.7% drove the decline, the first year-over-year quarterly decrease in revenue and earnings per share this year.
Q3 2024 revenue was $1,470.2 million, down 3.0% from $1,515.3 million in Q3 2023.
Operating ratio rose 210 basis points to 72.7%; net income fell 9.1% to $308.6 million.
Nine-month diluted EPS rose 2.2% to $4.25, and the company spent $824.8 million on share repurchases in the first nine months.
Cash and cash equivalents were $74.2 million at September 30, 2024, and 2024 capital expenditures are expected to total about $750 million.
UniFirst reported fourth-quarter and full fiscal 2024 results, ended August 31, 2024. Q4 revenue rose 11.9% to $639.9 million and diluted EPS rose to $2.39 from $1.47, though both periods included an extra week. The company guided fiscal 2025 revenue to $2.425 billion to $2.445 billion and diluted EPS to $6.79 to $7.19, against fiscal 2024 diluted EPS of $7.77, and noted that fiscal 2025 has one less week.
Q4 fiscal 2024 revenue $639.9 million, up 11.9%; extra week added approximately 8.0% to quarterly revenue growth
Q4 diluted EPS $2.39 vs $1.47 a year earlier; full-year diluted EPS $7.77 vs $5.53
Fiscal 2025 guidance: revenue $2.425 billion to $2.445 billion; diluted EPS $6.79 to $7.19; net income at midpoint $131.0 million vs $145.5 million in fiscal 2024
Balance sheet: $175.1 million cash and short-term investments and no long-term debt as of August 31, 2024; $76.2 million remaining on buyback authorization
General Dynamics reported third-quarter 2024 results for the quarter ended September 29, 2024, with revenue of $11.7 billion, up 10.4%, and operating earnings of $1.2 billion, up 11.7%. Diluted EPS rose 10.2% to $3.35, and the operating margin was 10.1%, a 10-basis-point increase, so the headline profit measures improved for shareholders.
Revenue of $11.7 billion, up 10.4% from the year-ago quarter; operating earnings of $1.2 billion, up 11.7%.
Diluted EPS of $3.35, compared with $3.04 a year earlier, up 10.2%.
Company-wide backlog of $92.6 billion; book-to-bill ratio of 1.1-to-1 for the quarter.
Free cash flow of $1,215 million in the quarter, compared with $1,094 million a year earlier.
Winnebago Industries reported fourth-quarter and full-year fiscal 2024 results on October 23, 2024. Fourth-quarter revenue fell 6.5% to $720.9 million and the company posted a net loss of $29.1 million, which included a $30.3 million goodwill impairment tied to Chris-Craft. The company also issued fiscal 2025 guidance of $2.9 billion to $3.2 billion in revenue and reported EPS of $2.40 to $3.90, which shareholders will weigh against the weaker fiscal 2024 results.
Q4 fiscal 2024 net loss of $29.1 million, or $1.01 per diluted share, compared with net income of $43.8 million, or $1.28 per diluted share, a year earlier
Full-year fiscal 2024 revenue of $2,973.5 million, down 14.8%, and reported diluted EPS of $0.44 versus $6.23 in fiscal 2023
Fiscal 2025 guidance: revenue of $2.9 billion to $3.2 billion, reported EPS of $2.40 to $3.90, and adjusted EPS of $3.00 to $4.50
Chris West named President of the Winnebago branded Motorhome and Specialty Vehicles business; Don Clark promoted to Group President
United Community Banks reported third-quarter 2024 net income of $47.3 million, or $0.38 per diluted share on a GAAP basis, down 30% from the second quarter and 3% from a year earlier. The GAAP results include a $21.4 million after-tax loss, or $0.18 per share, from the sale of $318 million in manufactured housing loans, while operating diluted EPS of $0.57 rose 27% year over year.
Net income of $47.3 million; GAAP diluted EPS of $0.38, down 30% from the second quarter of 2024 and down 3% from the third quarter of 2023.
Sale of $318 million in manufactured housing loans reduced results by $21.4 million after-tax, or $0.18 per share.
Operating diluted EPS of $0.57, up 27% from the year-ago quarter, including a $9.9 million Hurricane Helene loan loss provision.
Preliminary CET1 ratio of 13.1%; quarterly common dividend of $0.24 per share, up 4% year over year.
Prosperity Bancshares reported third quarter 2024 net income of $127.3 million, or $1.34 per diluted share, up from $112.2 million, or $1.20 per share, a year earlier. The board also approved a fourth quarter dividend of $0.58 per share, up from $0.56, which shareholders would receive if the increase holds. Results were driven mainly by higher net interest income, with three months of Lone Star Bank operations included.
Net income was $127.3 million, up $15.1 million or 13.4% from the third quarter of 2023.
Diluted EPS was $1.34, compared with $1.20 a year earlier.
Net interest margin rose 23 basis points to 2.95% from 2.72% a year earlier.
Quarterly dividend increased 3.57% to $0.58 per share, payable January 2, 2025, to holders of record as of December 13, 2024.
Watsco reported third-quarter 2024 sales up 2% to a record $2.16 billion, while operating income fell 2% to $250 million and diluted EPS declined 3% to $4.22. Nine-month EPS was $10.92 versus $11.60 a year earlier, though operating cash flow rose 50% to a record $394 million.
Q3 sales $2.16 billion, up 2% (flat on a same-store basis); net income attributable to Watsco $171 million, flat year over year
Q3 diluted EPS $4.22 versus $4.35 a year earlier, down 3%
Nine-month EPS $10.92 versus $11.60; operating cash flow up 50% to a record $394 million
Annual dividend rate raised 10% to $10.80 per share, effective April 2024
Healthcare Services Group reported third-quarter 2024 revenue of $428.1 million, up from $411.4 million a year earlier, and net income of $14.0 million, or $0.19 per diluted share, compared with a net loss of $5.0 million, or $0.07 per share, in the same quarter of 2023. The company reaffirmed its fourth-quarter revenue estimate of $430.0 million to $440.0 million and its 2024 adjusted cash flow from operations forecast of $40.0 million to $55.0 million.
Q3 2024 revenue of $428.1 million, up from $411.4 million in Q3 2023 and within the company's $425.0 million to $435.0 million expectation range.
Net income of $14.0 million, or $0.19 per diluted share, versus a net loss of $5.0 million, or $0.07 per share, a year earlier.
Reaffirmed Q4 2024 revenue estimate of $430.0 million to $440.0 million and 2024 adjusted cash flow from operations forecast of $40.0 million to $55.0 million.
Adjusted EBITDA of $24.8 million; cash and marketable securities of $130.0 million as of September 30, 2024.
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