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).
Cactus reported third quarter 2024 revenue of $293.2 million, up from $287.9 million a year earlier, while net income fell to $62.4 million from $68.0 million and diluted earnings per Class A share fell to $0.74 from $0.80. The company also cut its full-year 2024 net capital expenditure range to $32 million to $37 million and said it is no longer pursuing a growth opportunity that drove non-routine corporate expenses.
Q3 2024 revenue was $293.2 million, compared with $290.4 million in the second quarter of 2024 and $287.9 million in the third quarter of 2023.
Operating income was $76.8 million, down from $87.6 million a year earlier, and net income was $62.4 million, down from $68.0 million.
Adjusted EBITDA was $100.4 million, a 34.2% margin, and cash and cash equivalents were $303.4 million with no bank debt as of September 30, 2024.
The Board declared a quarterly dividend of $0.13 per Class A share, payable December 19, 2024, and full-year 2024 net capital expenditures are now expected to be $32 million to $37 million.
MetLife reported third quarter 2024 net income of $1.3 billion, or $1.81 per share, up from $422 million a year earlier, driven mainly by net derivative gains. Adjusted earnings fell 8 percent to $1.4 billion, or $1.95 per share, and adjusted premiums, fees and other revenues declined 5 percent, so shareholders see a mixed picture of reported profit gains alongside weaker core measures.
Net income was $1.3 billion ($1.81 per share) versus $422 million ($0.56 per share) in Q3 2023, mainly from net derivative gains of $767 million.
Adjusted earnings were $1.4 billion ($1.95 per share), down 8 percent in dollars and 1 percent per share from $1.97 a year earlier.
Adjusted premiums, fees and other revenues fell 5 percent to $12.5 billion, while adjusted net investment income rose 2 percent to $5.1 billion.
Book value per share rose 33 percent to $39.02; holding company cash and liquid assets were $4.5 billion at September 30, 2024.
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
Service Corporation International reported third quarter 2024 revenue of $1,014.0 million, up $12.1 million from a year earlier, while operating income fell to $212.4 million from $223.0 million. The company narrowed its full-year 2024 adjusted EPS outlook to $3.47 to $3.57 from a prior expectation in the lower half of $3.50 to $3.80, and raised the midpoint of its operating cash flow guidance.
Q3 2024 diluted EPS was $0.81 vs $0.80; adjusted EPS was $0.79 vs $0.78 in Q3 2023
Net income attributable to common stockholders was $117.8 million vs $122.0 million a year earlier
2024 adjusted EPS outlook is $3.47 to $3.57; Q4 2024 adjusted EPS outlook is $1.00 to $1.10
Full-year adjusted operating cash flow guidance raised to $940 million to $960 million from $900 million to $960 million
Valaris Limited reported third quarter 2024 results on October 30, 2024. Revenue rose to $643 million from $610 million in the second quarter and Adjusted EBITDA rose to $150 million from $139 million, while net income fell to $63 million from $151 million, with a $24 million tax expense compared with a $30 million tax benefit in the prior quarter. The company also repurchased $100 million of shares during the quarter.
Revenue $643 million vs. $610 million in Q2 2024; Adjusted EBITDA $150 million vs. $139 million
Net income $63 million vs. $151 million in Q2 2024; net income included $24 million of tax expense
Repurchased $100 million of shares in the third quarter; free cash flow of $111 million
Three-year contract extension for VALARIS 118 added $168 million of contract backlog
Watts Water Technologies reported third-quarter 2024 reported sales of $544 million, up 8%, but organic sales fell 4%, and adjusted EPS of $2.03 was slightly below $2.04 a year earlier. The company raised the midpoint of its full-year operating margin outlook and narrowed its sales guidance. Chief Financial Officer Shashank Patel plans to retire on March 15, 2025, and the company has started a search for a successor.
Reported sales were $543.6 million, up 8%; organic sales declined 4%, and acquisitions added $59 million in the Americas.
Reported diluted EPS was $2.06, up 5%; adjusted EPS was $2.03, compared with $2.04 a year earlier.
Full-year 2024 outlook: reported sales growth of 9% to 10%, organic sales down 1% to 2%, and reported operating margin of 17.2% to 17.4%, with the midpoint raised by 20 basis points.
CFO Shashank Patel will retire March 15, 2025, and remain CFO until a successor is named.
John B. Sanfilippo & Son reported fiscal 2025 first quarter results ended September 26, 2024. Net sales rose 18.0% to $276.2 million, mainly from the Lakeville snack bar acquisition, but gross profit fell 18.4% and diluted EPS fell 33.8% to $1.00 on lower selling prices, higher commodity costs and a one-time customer concession.
Net sales increased $42.1 million, or 18.0%, to $276.2 million, including about $40.5 million from the Lakeville Acquisition; excluding it, net sales rose $1.6 million, or 0.7%.
Gross profit decreased 18.4% to $46.5 million, and gross margin fell to 16.9% of net sales from 24.4% a year earlier.
Net income was $11.7 million versus $17.6 million in the prior-year quarter; diluted EPS was $1.00 versus $1.51.
The company will hold an investor conference call on Thursday, October 31, 2024, at 10:00 a.m. Eastern.
Casella Waste Systems reported third-quarter 2024 revenue of $411.6 million, up 16.7% from a year earlier, driven by acquisitions and pricing. Net income fell to $5.8 million, or $0.10 per diluted share, as an $8.5 million Southbridge Landfill charge and higher acquisition expenses weighed on results. The company lowered its fiscal 2024 net income guidance to $10 million to $20 million while reaffirming its revenue, Adjusted EBITDA and cash flow ranges.
Q3 revenue was $411.6 million, up $58.9 million, or 16.7%, from the same period in 2023
Q3 net income was $5.8 million, or $0.10 per diluted share, down from $18.2 million, or $0.31, a year earlier
Q3 Adjusted EBITDA was $102.9 million, up 14.9%; an $8.5 million Southbridge Landfill charge was recorded in the quarter
Fiscal 2024 net income guidance was lowered to $10 million to $20 million from $15 million to $25 million; revenue guidance of $1.520 billion to $1.550 billion was reaffirmed
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.
Arcosa reported third quarter 2024 revenue of $640.4 million, up 8%, and Adjusted EBITDA of $114.0 million, up 28%. GAAP net income fell 53% to $16.6 million, or $0.34 per diluted share, while adjusted diluted EPS rose 25% to $0.91. The company raised its full-year Adjusted EBITDA guidance to $435 million to $450 million but narrowed its revenue range to $2.56 billion to $2.63 billion, reflecting the steel components divestiture and the $1.2 billion Stavola acquisition that closed October 1.
Q3 revenue $640.4 million vs. $591.7 million a year earlier; net income $16.6 million vs. $35.5 million
Adjusted diluted EPS $0.91 vs. $0.73; Adjusted EBITDA $114.0 million vs. $89.4 million, with margin of 17.8% vs. 15.1%
Full-year 2024 Adjusted EBITDA guidance raised to $435 million to $450 million from $420 million to $440 million
Full-year revenue guidance changed to $2.56 billion to $2.63 billion from $2.60 billion to $2.72 billion
Aflac reported a third-quarter net loss of $93 million, or $0.17 per diluted share, versus earnings of $1.6 billion a year earlier, mainly due to foreign exchange-related losses as the yen strengthened 12.9% during the quarter. Adjusted earnings per diluted share rose 17.4% to $2.16, and the company said Virgil R. Miller will become President effective January 1, 2025, while Daniel P. Amos steps down from that title but stays Chairman and CEO.
Q3 net loss of $93 million ($0.17 per diluted share) vs. earnings of $1.6 billion ($2.64 per share) a year ago; net investment losses of $1.4 billion
Q3 adjusted earnings of $1.2 billion, up 10.6%; adjusted EPS $2.16, up 17.4%
Virgil R. Miller appointed President effective January 1, 2025, with base salary of $825,000 and target bonus of 150% of salary
Board declared fourth quarter dividend of $0.50 per share; $500 million spent on share repurchases in Q3
Bio-Rad reported third-quarter 2024 net sales of $649.7 million, up 2.8% from a year earlier, led by Clinical Diagnostics. GAAP net income rose to $653.2 million, mainly from a gain on its Sartorius AG investment, while non-GAAP net income fell to $56.4 million and non-GAAP operating income declined to $73.3 million. The company kept its full-year non-GAAP revenue decline outlook of 2.5 to 4.0 percent and set a non-GAAP operating margin range of 12.75 to 13.25 percent that now includes a one-time acquired in-process R&D expense.
Net sales $649.7 million vs $632.1 million a year earlier; Clinical Diagnostics up 5.6% to $388.8 million, Life Science down 1.0% to $260.9 million
GAAP net income $653.2 million, or $23.34 per diluted share, vs $106.3 million, or $3.64, in Q3 2023
Non-GAAP net income $56.4 million, or $2.01 per diluted share, vs $68.1 million, or $2.33; non-GAAP operating income $73.3 million vs $81.6 million
Full-year 2024: non-GAAP revenue expected to decline about 2.5% to 4.0% on a currency-neutral basis; non-GAAP operating margin 12.75% to 13.25%
Mid-America Apartment Communities reported third-quarter 2024 diluted earnings per share of $0.98, up from $0.94 a year earlier, while Core FFO per diluted share fell to $2.21 from $2.29. The company raised the midpoint of its full-year 2024 EPS guidance to $4.53 from $4.51, kept the Core FFO midpoint at $8.88, and lowered its same store revenue growth midpoint to 0.50% from 0.65%, so shareholders see mixed signals in the results and outlook.
Q3 2024 diluted EPS was $0.98 versus $0.94 in Q3 2023; nine-month EPS was $3.07 versus $3.34.
Q3 2024 Core FFO per diluted share was $2.21 versus $2.29; the full-year Core FFO range narrowed to $8.80 to $8.96 from $8.74 to $9.02.
Same Store NOI fell 1.7% in Q3 2024, and Same Store lease pricing for new leases declined 5.4%.
Rental and other property revenues were $551.1 million in Q3 2024 versus $542.0 million a year earlier.
Broadstone Net Lease reported third quarter 2024 revenue of $108.4 million, down from $109.5 million a year earlier but up from $105.9 million in the prior quarter. Diluted earnings per share were $0.19, compared with $0.26 a year earlier, while AFFO was $70.2 million, or $0.35 per share. The company kept its 2024 AFFO per share guidance of $1.41 to $1.43 unchanged but lowered its expected real estate investment range to $400 million to $600 million.
Q3 2024 revenue $108.4 million, versus $109.5 million in Q3 2023 and $105.9 million in Q2 2024
Net income $37.3 million, or $0.19 per diluted share, versus $0.26 in Q3 2023
2024 AFFO per share guidance of $1.41 to $1.43 unchanged; investment assumption cut to $400 million to $600 million from $400 million to $700 million
Quarterly dividend of $0.29 declared on October 24, 2024, payable on or before January 15, 2025
Floor & Decor reported third-quarter fiscal 2024 results for the quarter ended September 26, 2024. Net sales rose 0.9% to $1.1 billion, but comparable store sales fell 6.4%, operating income fell 21.8%, and diluted EPS fell 21.3% to $0.48. The company also updated its fiscal 2024 outlook, now forecasting diluted EPS of approximately $1.65 to $1.75 and comparable store sales of approximately (8.5)% to (7.5)%.
Net sales of $1,117.9 million rose 0.9% from $1,107.8 million a year earlier, while comparable store sales decreased 6.4%.
Operating income of $66.3 million fell 21.8%, and net income of $51.7 million fell 21.6%.
Diluted EPS of $0.48 compared with $0.61 in the third quarter of fiscal 2023.
Updated fiscal 2024 outlook: diluted EPS of approximately $1.65 to $1.75 and adjusted EBITDA of approximately $490 million to $500 million.
Advanced Energy reported third-quarter 2024 revenue of $374.2 million, above the midpoint of its guidance, and up from $364.9 million in the second quarter but down from $410.0 million a year earlier. The company posted a GAAP loss of $0.38 per share, which included a $28.5 million restructuring charge tied to its manufacturing consolidation, and guided fourth-quarter revenue to $392 million plus or minus $20 million.
Q3 2024 revenue was $374.2 million, versus $364.9 million in Q2 2024 and $410.0 million in Q3 2023.
GAAP loss from continuing operations was $14.1 million, or $0.38 per share, including a $28.5 million restructuring charge; Q3 2023 GAAP net income was $33.7 million, or $0.89 per diluted share.
Non-GAAP EPS was $0.98, compared with $0.85 in Q2 2024 and $1.28 in Q3 2023.
Q4 2024 guidance: revenue of $392 million plus or minus $20 million and non-GAAP EPS of $1.08 plus or minus $0.25.
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
eBay reported third quarter 2024 revenue of $2.6 billion, up 3%, and non-GAAP earnings of $1.19 per diluted share, up 16%. GAAP earnings fell to $1.29 per share from $2.46, and the year-earlier quarter included a $1.2 billion gain on equity investments and warrant, which did not recur at that size. The company also gave fourth quarter and full-year 2024 guidance and declared a $0.27 per share dividend.
Revenue was $2,576 million, up 3%; gross merchandise volume was $18.3 billion, up 2%.
GAAP net income was $636 million ($1.29 per diluted share), down from $1,306 million ($2.46 per share) a year earlier.
Non-GAAP EPS was $1.19, up from $1.03; the company repurchased $750 million of stock and paid $131 million in dividends.
Full-year 2024 guidance: revenue of $10.23 to $10.29 billion and non-GAAP EPS of $4.80 to $4.85; the $0.27 dividend is payable December 13, 2024.
Independence Realty Trust reported third quarter 2024 net income available to common shares of $12.4 million, up from $3.9 million a year earlier, with diluted EPS of $0.05 versus $0.02. Core FFO per share (CFFO) fell to $0.29 from $0.30, which the company attributed to asset sales, and it lowered the midpoint of its 2024 EPS guidance by $0.07 to $0.30 while raising its CFFO per share guidance by $0.01, so shareholders face a mixed picture.
Q3 2024 net income available to common shares was $12.4 million versus $3.9 million in Q3 2023; diluted EPS was $0.05 versus $0.02.
Q3 2024 CFFO was $66.8 million ($0.29 per share) versus $69.0 million ($0.30); Adjusted EBITDA was $87.5 million versus $94.4 million.
S&P Global Ratings assigned a 'BBB' issuer credit rating with a stable outlook, announced October 30, 2024.
FormFactor reported record third-quarter fiscal 2024 revenue of $207.9 million, up 21.2% from a year earlier but up 5.3% from the prior quarter, with GAAP net income of $18.7 million ($0.24 per diluted share). For the fourth quarter ending December 28, 2024, the company forecast revenue of $190 million, plus or minus $5 million, citing reduced Foundry & Logic probe-card demand partly offset by DRAM strength, so shareholders face a guided sequential revenue decline.
Q3 revenue of $207.9 million was a company record, up 5.3% from $197.5 million in Q2 and 21.2% from $171.6 million in Q3 2023.
GAAP net income was $18.7 million, or $0.24 per diluted share, down from $19.4 million ($0.25) in Q2 and up from $4.4 million ($0.06) in Q3 2023.
Non-GAAP EPS was $0.35, unchanged from Q2 and up from $0.22 in Q3 2023; GAAP gross margin was 40.7%, down from 44.0% in Q2.
Q4 outlook calls for revenue of $190 million, plus or minus $5 million, and non-GAAP EPS of $0.29, plus or minus $0.04.
Magnolia Oil & Gas reported third quarter 2024 results on October 30, 2024. Total revenue rose from $315.7 million a year earlier to $333.1 million, and production grew 10%, but net income fell 10% and diluted earnings per share fell from $0.54 to $0.52, so the headline profit measures moved in opposite directions. The company also said fourth quarter capital spending is expected to be about $125 million, bringing 2024 capital spending to about $470 million.
Total revenue was $333.1 million, up from $315.7 million in the third quarter of 2023.
Net income attributable to Class A common stock was $99.8 million, or $0.52 per diluted share, versus $0.54 a year earlier; total net income fell 10% to $105.9 million.
Adjusted EBITDAX was $243.6 million, up 2% from $239.0 million; free cash flow was $126.1 million.
Fourth quarter production is expected to be about 93 Mboe/d, and 2024 capital spending is expected to be about $470 million, within the $450 million to $480 million budget range.
Standard Motor Products reported third-quarter 2024 net sales of $399.3 million, up 3.3%, and adjusted diluted earnings per share of $1.28, up from $1.11. GAAP net earnings per diluted share fell to $0.17 from $0.30 after a $22.8 million loss from a discontinued operation, and the company left its full-year 2024 outlook unchanged while expecting the Nissens Automotive acquisition to close soon.
Q3 net sales $399.3 million vs. $386.4 million a year earlier; the company said all three operating segments increased.
Diluted EPS from continuing operations $1.20 vs. $1.12; adjusted diluted EPS $1.28 vs. $1.11.
Loss from discontinued operation of $22.8 million reduced GAAP net diluted EPS to $0.17 from $0.30.
Full-year 2024 guidance unchanged; quarterly dividend of 29 cents per share payable December 2, 2024.
IDEX reported third-quarter 2024 sales of $798 million, up 1% but flat on an organic basis, while reported diluted EPS fell 43% to $1.57 after a prior-year gain on the Micropump sale. The company lowered its full-year 2024 GAAP diluted EPS guidance to $6.65-$6.70 from $6.85-$6.95, and raised its adjusted diluted EPS guidance to $7.85-$7.90 from $7.80-$7.90, which matters to shareholders because the two measures moved in opposite directions.
Q3 2024 net sales of $798.2 million, up 1% reported and flat organically; adjusted diluted EPS of $1.90, down 10%
Reported diluted EPS of $1.57, down from $2.75, mainly due to the absence of the prior-year Micropump divestiture gain
Full-year 2024 GAAP diluted EPS guidance cut to $6.65-$6.70 from $6.85-$6.95; adjusted diluted EPS guidance raised to $7.85-$7.90 from $7.80-$7.90
Mott Corporation acquisition completed September 5, 2024, for cash consideration of $986.2 million, net of cash acquired
ITW reported third quarter 2024 revenue of $4.0 billion, down 1.6%, while GAAP diluted EPS rose to $3.91 from $2.55, helped by a $1.26 gain on the sale of its Wilsonart stake. Excluding the gain, EPS was $2.65, up 4%, and the company raised its full-year 2024 GAAP EPS guidance by $1.33 to $11.63 to $11.73 per share, mainly reflecting the gain and a lower projected tax rate.
Q3 2024 revenue of $3,966 million, down 1.6%; organic growth declined 1.4%
GAAP diluted EPS of $3.91 includes a $1.26 gain from the Wilsonart sale; excluding it, EPS was $2.65, up 4%
2024 GAAP EPS guidance raised to $11.63 to $11.73 from $10.30 to $10.40; revenue guidance of approximately flat maintained
Company repurchased $375 million of its shares in the quarter and plans about $1.5 billion of repurchases for 2024
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.
Extreme Networks reported first quarter fiscal 2025 results for the period ended September 30, 2024, with revenue of $269.2 million, down 23.8% from $353.1 million a year earlier but up 4.9% from the prior quarter. The company posted a GAAP net loss of $10.5 million, or $0.08 per share, compared with GAAP diluted earnings of $0.21 per share a year earlier. It guided to second quarter revenue of $273.0 million to $283.0 million and full fiscal 2025 revenue of $1,117.0 million to $1,137.0 million, which shareholders will weigh against the year-over-year decline.
Revenue was $269.2 million, down from $353.1 million a year earlier and up 4.9% sequentially
GAAP net loss was $10.5 million, or $0.08 per share; non-GAAP diluted EPS was $0.17 versus $0.35 a year earlier
Second quarter fiscal 2025 revenue guidance is $273.0 million to $283.0 million; non-GAAP EPS guidance is $0.16 to $0.20
Full fiscal 2025 revenue guidance is $1,117.0 million to $1,137.0 million
Materion reported third quarter 2024 net sales of $436.7 million, up from $403.1 million a year earlier, while value-added sales fell 2% to $263.8 million. Net income dropped to $22.3 million, or $1.07 per diluted share, from $26.6 million, or $1.27 per share, and the company guided to full year 2024 adjusted earnings of $5.20 to $5.40 per share.
Q3 adjusted EBITDA was a record $56.7 million versus $55.4 million, with a 21.5% margin of value-added sales
Q3 adjusted earnings were $1.41 per diluted share versus $1.51 a year earlier
Full year 2024 adjusted earnings guidance is $5.20 to $5.40 per share
Company announced the sale of a non-core large area targets business for architectural glass in Albuquerque, New Mexico, with the transaction dated October 25, 2024
Reynolds Consumer Products reported third-quarter 2024 net revenues of $910 million, down from $935 million a year earlier, while net income rose to $86 million from $78 million. The company also announced that Lance Mitchell will step down as President and CEO effective January 1, 2025, with Chief Financial Officer Scott Huckins succeeding him, and Nathan Lowe becoming CFO, which changes the company's leadership for shareholders.
Q3 2024 net revenues were $910 million vs. $935 million in Q3 2023; net income was $86 million vs. $78 million; EPS was $0.41 vs. $0.37.
Full-year 2024 net revenue guidance narrowed to $3,620 million to $3,660 million from $3,590 million to $3,670 million; net income guidance narrowed to $348 million to $356 million from $346 million to $358 million.
Mitchell leaves the CEO role and Board effective January 1, 2025, and retires July 31, 2025; Huckins becomes CEO and a director on January 1, 2025.
Huckins' initial annual base salary is $1,000,000; Nathan D. Lowe is appointed Vice President, CFO and Treasurer effective January 1, 2025.
CDW reported third quarter 2024 net sales of $5.5 billion, down 2.0% from a year earlier, and down 3.5% on an average daily sales basis. GAAP diluted earnings per share rose 1.0% to $2.34, but non-GAAP diluted EPS fell 3.2% to $2.63, and the company's Board declared a quarterly dividend of $0.625 per share.
Net sales were $5,516.6 million versus $5,628.3 million; the Public segment fell 5.1% on an average daily sales basis, with Government down 12.3%
Net income was $316.4 million, flat with the prior year; diluted EPS was $2.34 versus $2.32
Non-GAAP diluted EPS was $2.63 versus $2.72, a decrease of 3.2%
Quarterly dividend of $0.625 per share is payable December 10, 2024 to holders of record on November 25, 2024
Option Care Health reported third-quarter 2024 net revenue of $1,278.5 million, up 17.0%, but net income of $53.9 million was down 4.3% and diluted EPS was flat at $0.31. The company said a supply disruption tied to Hurricane Helene will negatively affect fourth-quarter results, and it updated its full-year 2024 guidance to reflect this.
Net revenue of $1,278.5 million, up 17.0% from $1,093.0 million in Q3 2023
Net income of $53.9 million, or $0.31 diluted EPS, versus $56.3 million, or $0.31, a year earlier; adjusted diluted EPS was $0.41 versus $0.40
Updated 2024 guidance: net revenue of $4.9 billion to $4.95 billion and adjusted EBITDA of $438 million to $443 million, with the Q4 hit from supply disruption for intravenous solution bags
Cash flow from operations was $160.4 million versus $61.0 million in Q3 2023; the company repurchased about $41.9 million of stock in the quarter
Smurfit Westrock reported third-quarter 2024 net sales of $7,671 million, up from $2,915 million a year earlier, after its combination with WestRock closed on July 5, 2024. The company swung to a net loss of $150 million, compared with net income of $229 million, which management attributed mainly to transaction-related expenses and purchase accounting adjustments of approximately $500 million. The company also expects 2024 full-year combined Adjusted EBITDA of approximately $4.7 billion.
Net sales of $7,671 million in Q3 2024 versus $2,915 million in Q3 2023
Net loss of $150 million (negative 2.0% margin) versus net income of $229 million (7.8% margin)
Adjusted EBITDA of $1,265 million (16.5% margin) versus $525 million (18.0% margin)
Expects 2024 full-year combined Adjusted EBITDA of approximately $4.7 billion
Central Pacific Financial Corp. reported third-quarter 2024 net income of $13.3 million, or $0.49 per diluted share, compared with $15.8 million, or $0.58 per share, in the second quarter and $13.1 million, or $0.49 per share, a year earlier. The results include $3.1 million in pre-tax expenses tied to a strategic opportunity that the company says is no longer under active discussion, and net interest income rose 3.7% from the prior quarter. Shareholders also received a $0.26 quarterly dividend declaration.
Net income $13.3 million, or $0.49 diluted EPS, vs $15.8 million, or $0.58, in Q2 2024
$3.1 million in pre-tax expenses related to a strategic opportunity; adjusted net income (non-GAAP) $15.7 million, or $0.58 per share
Net interest margin 3.07%, up 10 basis points from 2.97% in Q2 2024
Total loans $5.34 billion, down $41.0 million from June 30, 2024; quarterly dividend $0.26 per share payable December 16, 2024 to holders of record November 29, 2024
Bio-Techne reported first-quarter fiscal 2025 results for the quarter ended September 30, 2024, with net sales up 5% to $289.5 million and adjusted EPS of $0.42, versus $0.41 a year earlier. GAAP EPS fell to $0.21 from $0.31, and GAAP operating income dropped 28% to $40.0 million, which the company attributes partly to restructuring charges. The company also declared a quarterly dividend of $0.08 per share and reported shareholder votes from its annual meeting.
Net sales rose 5% to $289.5 million; organic growth was 4%.
GAAP EPS was $0.21 versus $0.31 a year earlier; adjusted EPS was $0.42 versus $0.41.
GAAP operating margin was 13.8%, compared with 20.2%; adjusted operating margin was 29.0%, compared with 31.4%.
Quarterly dividend of $0.08 per share is payable November 22, 2024, to shareholders of record on November 11, 2024.
TE Connectivity reported fourth-quarter fiscal 2024 net sales of $4.1 billion, up 1% year over year, and adjusted EPS of a record $1.95, up 10%. GAAP EPS fell 49% to $0.90 because of a one-time tax-related impact of $0.78, and full-year net sales were $15.8 billion. The board also raised the share repurchase authorization by $2.5 billion, and the company expects first-quarter fiscal 2025 sales and adjusted EPS to rise year over year.
Q4 adjusted EPS was a record $1.95, up 10%; GAAP diluted EPS from continuing operations was $0.90, down 49%, including a $0.78 one-time tax-related impact.
Full-year GAAP EPS was a record $10.34 and adjusted EPS was $7.56, up 12%; full-year net sales were $15.8 billion.
Board authorized a $2.5 billion increase in the share repurchase program.
First-quarter fiscal 2025 outlook: net sales of approximately $3.9 billion and adjusted EPS of $1.88; GAAP EPS of $1.64.
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