513 material Form 8-K filings that 427 companies we cover made with the SEC in November 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).
Arrowhead Pharmaceuticals reported a fiscal 2024 net loss attributable to the company of $599.5 million, or $5.00 per diluted share, for the year ended September 30, 2024, compared with a loss of $205.3 million, or $1.92 per share, a year earlier. Revenue fell to $3.6 million from $240.7 million, while research and development expense rose to $505.9 million from $353.2 million. The company said its recent Sarepta licensing deal and Sixth Street credit facility, both announced in the filing period, extend its cash runway into 2028.
Revenue was $3.6 million in fiscal 2024 versus $240.7 million in fiscal 2023.
Diluted net loss per share was $5.00 versus $1.92 a year earlier.
Research and development expense was $505.9 million versus $353.2 million.
Sarepta agreement provides $825 million upon closing, including a $325 million equity investment; Sixth Street facility is $500 million, with $400 million funded at close.
For the quarter ended October 31, 2024, J.M. Smucker reported net sales of $2.3 billion, up 17% mainly due to the Hostess Brands acquisition, and adjusted earnings per share of $2.76, up 7%. The company posted a GAAP net loss of $0.23 per diluted share, versus earnings of $1.90 a year earlier, after a $260.8 million pre-tax loss on the Voortman business held for sale. The company raised its full-year fiscal 2025 adjusted earnings per share guidance to $9.70 to $10.10 from $9.60 to $10.00.
Net sales were $2.3 billion, up $332.6 million or 17%; excluding the acquisition, divestitures, and currency, net sales rose 2%.
GAAP net loss of $0.23 per diluted share, compared with $1.90 a year earlier, including a $260.8 million pre-tax loss on the Voortman business.
Adjusted earnings per share were $2.76, up 7%; free cash flow was $317.2 million versus $28.2 million a year earlier.
Fiscal 2025 adjusted earnings per share guidance raised to $9.70 to $10.10 from $9.60 to $10.00; net sales growth guidance unchanged at 8.5% to 9.5%.
Burlington reported third-quarter fiscal 2024 total sales up 11% to $2,526 million and net income of $91 million, or $1.40 per diluted share, versus $49 million, or $0.75, a year earlier. The company raised its full-year fiscal 2024 adjusted EPS guidance to $7.76 to $7.96, but comparable store sales grew only 1%, and its fourth-quarter guidance calls for a lower adjusted EBIT margin.
Q3 total sales rose 11% to $2,526 million; comparable store sales rose 1%, which management attributed to warmer weather from mid-September.
Q3 net income was $91 million, or $1.40 per diluted share; adjusted EPS rose 41% to $1.55.
Full-year fiscal 2024 adjusted EPS guidance was raised to $7.76 to $7.96.
Fourth-quarter guidance calls for comparable store sales growth of 0% to 2% and an adjusted EBIT margin decline of 50 to 80 basis points.
New Jersey Resources reported fiscal 2024 net income of $289.8 million, or $2.94 per share, up from $2.73 per share a year earlier, with net financial earnings per share of $2.95 at the higher end of its guidance range. It introduced fiscal 2025 guidance of $3.05 to $3.20 per share, which it said is above its long-term growth target because of a one-time gain from the $132.5 million sale of its residential solar portfolio, closed November 25, 2024. Fiscal 2024 operating revenues fell to $1.8 billion from $2.0 billion, and the company raised its fiscal 2025 dividend 7.1 percent to $1.80 per share.
Fiscal 2024 net income was $289.8 million, or $2.94 per share, compared with $264.7 million, or $2.73 per share, in fiscal 2023.
Fiscal 2024 net financial earnings were $290.8 million, or $2.95 per share, at the higher end of guidance raised in February 2024.
Fiscal 2025 net financial earnings per share guidance is $3.05 to $3.20; the dividend rises 7.1 percent to $1.80 per share.
The residential solar portfolio sale closed November 25, 2024 for approximately $132.5 million, subject to adjustments; the company expects a gain in fiscal 2025.
Woodward reported fiscal 2024 net sales of $3.3 billion, up 14%, and diluted EPS of $6.01, up 59%, for the year ended September 30, 2024. For fiscal 2025 it guided to sales of $3.30 billion to $3.50 billion and EPS of $5.75 to $6.25, with Industrial sales expected to fall 7% to 11% due to lower China on-highway natural gas truck sales.
Fiscal 2024 net sales $3.3 billion (+14%); fourth quarter net sales $855 million (+10%)
Bath & Body Works reported third-quarter 2024 net sales of $1,610 million, up 3.0%, but diluted earnings per share fell to $0.49 from $0.52 a year earlier. The company raised its full-year 2024 earnings and net sales guidance, while its fourth-quarter outlook calls for net sales to decline 4.5% to 6.5% and earnings per share of $1.94 to $2.07 versus $2.55 a year earlier.
Q3 2024 net sales were $1,610 million, up 3.0% from $1,562 million; net income was $106 million versus $119 million
Q3 diluted EPS was $0.49 versus $0.52; adjusted EPS was $0.49 versus $0.48 after excluding a 2023 debt-extinguishment gain
Full-year 2024 GAAP EPS guidance raised to $3.46 to $3.59, including $400 million of planned share repurchases
Fourth-quarter 2024 net sales expected to decline 6.5% to 4.5%, with EPS of $1.94 to $2.07 versus $2.55 in Q4 2023
Gap Inc. reported third-quarter fiscal 2024 net sales of $3.8 billion, up 2%, and operating income of $355 million, compared with $250 million a year earlier. The company raised its full-year fiscal 2024 outlook for net sales, gross margin and operating income growth.
Diluted earnings per share were $0.72, compared with $0.58 a year earlier; net income was $274 million.
Comparable sales rose 1%, and operating margin was 9.3%, up 270 basis points.
Full-year operating income growth outlook was raised to the mid to high 60% range, from the mid to high 50% range.
Full-year net sales growth outlook is now up 1.5% to 2.0% on a 52-week basis, from up slightly.
Ross Stores reported third-quarter earnings per share of $1.48 for the 13 weeks ended November 2, 2024, up from $1.33, on sales of $5.1 billion, up from $4.9 billion, with comparable store sales up 1%. The company said sales were below plan, but it now expects fiscal 2024 earnings per share of $6.10 to $6.17, compared with $5.56 last year, and fourth-quarter earnings per share of $1.57 to $1.64, compared with $1.82 for the prior-year fourth quarter.
Q3 diluted EPS $1.48 vs. $1.33 a year earlier; net earnings $489 million vs. $447 million
Q3 sales $5.1 billion vs. $4.9 billion; operating margin 11.9% vs. 11.2%
Fourth-quarter EPS guidance $1.57 to $1.64 vs. $1.82 last year, including about $0.03 unfavorable packaway timing impact
Fiscal 2024 EPS now expected at $6.10 to $6.17 vs. $5.56 last year; $1.05 billion buyback planned for fiscal 2024
BJ's Wholesale Club reported third-quarter fiscal 2024 results, with total revenues up 3.5% to $5.10 billion and diluted EPS of $1.17 versus $0.97 a year earlier. The company raised its full-year adjusted EPS range to $3.90 to $4.00 from a previously stated $3.75 to $4.00 range, and approved a new $1.0 billion share repurchase program.
Q3 fiscal 2024 total revenues were $5.10 billion, up 3.5%; diluted EPS was $1.17 versus $0.97, and adjusted EPS was $1.18 versus $1.00
Full-year fiscal 2024 adjusted EPS range raised to $3.90 to $4.00; comparable club sales growth now expected at 2.3% to 2.4%
Board approved a $1.0 billion share repurchase program on November 18, 2024, expiring January 2029
Club membership fee rises $5 to $60 a year and Club+ rises $10 to $120 a year, effective January 1, 2025
Williams-Sonoma reported third-quarter 2024 results for the quarter ended October 27, 2024. Net revenues fell to $1.80 billion from $1.85 billion and comparable brand revenue declined 2.9%, but diluted EPS rose 7.1% to $1.96 on an operating margin of 17.8%, and the company raised its full-year 2024 outlook. The board also approved a new $1 billion stock repurchase authorization, and the raised margin guidance includes a $49 million out-of-period freight expense adjustment.
Net revenues were $1.80 billion versus $1.85 billion a year earlier; comparable brand revenue fell 2.9%.
Diluted EPS was $1.96 versus $1.83; operating margin was 17.8% versus 17.0%.
Full-year 2024 net revenue decline is now expected at -3.0% to -1.5%, and operating margin at 18.4% to 18.8%, including a $49 million out-of-period adjustment.
A new $1 billion stock repurchase authorization was approved in September 2024; total authorization is $1.3 billion, including $293 million remaining under the March 2024 program.
Dolby reported fourth-quarter fiscal 2024 revenue of $305 million, up from $291 million a year earlier, and GAAP diluted earnings of $0.61 per share versus $0.09. For the full fiscal year, revenue fell to $1.27 billion from $1.30 billion, while GAAP diluted EPS rose to $2.69 from $2.05. The company also gave fiscal 2025 revenue guidance of $1.33 billion to $1.39 billion and entered a $250 million revolving credit facility with Bank of America, with no amount drawn at closing.
Q4 fiscal 2024 revenue $305 million vs. $291 million a year earlier; GAAP diluted EPS $0.61 vs. $0.09
Full fiscal 2024 revenue $1.27 billion vs. $1.30 billion; GAAP diluted EPS $2.69 vs. $2.05
Fiscal 2025 guidance: total revenue $1.33 billion to $1.39 billion; GAAP diluted EPS $2.43 to $2.58
Credit Agreement signed November 14, 2024: $250 million unsecured revolver plus $150 million uncommitted incremental capacity; $0.33 per share dividend payable December 10, 2024
Energizer reported fiscal 2024 net sales of $2,887.0 million, down 2.5% from $2,959.7 million, while adjusted diluted EPS rose to $3.32 from $3.09. Reported net earnings fell to $38.1 million from $140.5 million, mainly due to a $110.6 million non-cash impairment of intangible assets. The company guided fiscal 2025 adjusted EBITDA to $625 million to $645 million and adjusted EPS to $3.45 to $3.65, and its board approved a new buyback of up to 7.5 million shares.
Fiscal 2024 net sales were $2,887.0 million, down 2.5%; organic sales declined 2.2%
Fiscal 2024 reported diluted EPS was $0.52 versus $1.94; adjusted diluted EPS was $3.32 versus $3.09
Fiscal 2025 outlook: adjusted EBITDA of $625 million to $645 million and adjusted EPS of $3.45 to $3.65
Board approved a new share repurchase program of up to 7.5 million shares on November 18, 2024, replacing the prior authorization
ADM reported third quarter 2024 GAAP net earnings attributable to the company of $18 million, or $0.04 per diluted share, compared with $821 million, or $1.52 per share, a year earlier. The results include a $461 million non-cash impairment charge on its Wilmar equity investment, and adjusted EPS was $1.09. ADM also filed restated financial statements for fiscal 2023 and the first two quarters of 2024, which it says did not affect consolidated results, and affirmed its full-year 2024 adjusted EPS range of $4.50 to $5.00.
Revenues were $19.9 billion, down from $21.7 billion in the prior-year quarter.
Total segment operating profit was $1,037 million, down 28% from $1,446 million.
Full-year 2024 adjusted EPS guidance of $4.50 to $5.00 was affirmed, not changed.
Fourth quarter AS&O segment operating profit is expected to be lower than a year earlier; Nutrition is expected to be higher than a year earlier but lower than the third quarter.
AECOM reported fiscal fourth-quarter 2024 revenue of $4.1 billion, up 7% from a year earlier, with diluted EPS of $1.25 as reported and adjusted EPS up 26%. It guided fiscal 2025 adjusted EPS to $5.00 to $5.20 and raised its quarterly dividend 18% to $0.26 and its share repurchase authorization to $1 billion, which affects per-share returns for shareholders.
Q4 fiscal 2024 diluted EPS was $1.25 as reported, versus $0.24 a year earlier; adjusted EPS rose 26%
Full-year fiscal 2024 revenue was $16.1 billion, up 12%, and free cash flow was $708 million
Fiscal 2025 guidance includes adjusted EPS of $5.00 to $5.20 and adjusted EBITDA of $1,170 million to $1,210 million
Quarterly dividend raised to $0.26 from $0.22, payable January 17, 2025, to holders of record on January 2, 2025
Kulicke and Soffa reported fiscal fourth-quarter 2024 net revenue of $181.3 million, down 10.4% from a year earlier, with GAAP net income of $12.1 million, or $0.22 per diluted share, down 46.3%. For the first quarter of fiscal 2025, the company expects net revenue of about $165.0 million, plus or minus $10 million, and non-GAAP diluted EPS of about $0.28, which includes a claim or proceeds from the cessation of business related to Project W.
Q4 fiscal 2024 net revenue $181.3 million, down 10.4% year over year; GAAP diluted EPS $0.22 versus $0.41 a year earlier
Non-GAAP diluted EPS $0.34, down 33.3% year over year; fiscal 2024 net loss of $69.0 million, or $(1.24) per share, including $44.5 million in impairment charges
Q1 fiscal 2025 outlook: net revenue about $165.0 million, +/- $10 million; GAAP diluted EPS about $1.45, including a $75.0 million claim or proceeds item; non-GAAP diluted EPS about $0.28
Company repurchased 3.2 million shares for $151.0 million in fiscal 2024; cash and short-term investments were $577.1 million as of September 28, 2024
Griffon reported fiscal 2024 revenue of $2.6 billion, down 2% from the prior year, while net income rose to $209.9 million from $77.6 million. Fourth-quarter revenue grew 3% to $659.7 million, and the board approved a $400 million share buyback and a 20% dividend increase, which the company says reflects its confidence in its outlook.
Fiscal 2024 revenue $2.6 billion, down 2% from $2.7 billion; fourth-quarter revenue $659.7 million, up 3%
Fiscal 2024 net income $209.9 million, or $4.23 per share, versus $1.42 per share a year earlier; fourth-quarter EPS $1.29 versus $0.79
Board approved a $400 million share buyback and raised the regular quarterly dividend 20% to $0.18 per share
Fiscal 2025 outlook: revenue consistent with 2024 at $2.6 billion; adjusted EBITDA $575 million to $600 million
RadNet reported third quarter 2024 revenue of $461.1 million, up 14.7%, and Adjusted EBITDA of $73.7 million, up 27.2%, with Adjusted diluted EPS of $0.18 versus $0.13. GAAP net income attributable to common stockholders fell to $3.2 million ($0.04 per diluted share) from $17.5 million ($0.25), and the company raised its Imaging Center revenue and Adjusted EBITDA guidance for 2024.
Q3 2024 Total Company Revenue was $461.1 million, up from $402.0 million; Adjusted EBITDA was $73.7 million, up from $57.9 million.
GAAP net income attributable to RadNet common stockholders was $3.2 million, or $0.04 per diluted share, versus $17.5 million, or $0.25, in Q3 2023; the company cited an $8.1 million non-cash loss from interest rate swaps among one-time ite
Adjusted diluted EPS was $0.18 versus $0.13 a year earlier.
Imaging Center 2024 guidance now projects Total Net Revenue of $1,710 - $1,760 million (up from $1,685 - $1,735 million) and Adjusted EBITDA of $262 - $270 million (up from $257 - $267 million).
CAVA Group reported fiscal third-quarter 2024 results for the period ended October 6, 2024, with CAVA segment revenue up 39.0% and net income rising to $18.0 million from $6.8 million a year earlier. The company also raised its fiscal 2024 guidance, lifting its Adjusted EBITDA forecast to $121.0 million to $126.0 million from $109.0 million to $114.0 million.
CAVA Revenue grew 39.0% to $241.5 million, versus $173.8 million in the prior-year quarter.
Net income was $18.0 million, or $0.15 per diluted share, compared with $6.8 million, or $0.06 per diluted share, a year earlier.
Fiscal 2024 guidance raised: CAVA Same Restaurant Sales Growth to 12.0% to 13.0% from 8.5% to 9.5%, and Adjusted EBITDA to $121.0 million to $126.0 million from $109.0 million to $114.0 million.
CAVA Restaurant-Level Profit Margin was 25.6%, compared with 25.1% in the prior-year quarter.
BioLife Solutions reported unaudited third-quarter 2024 revenue of $30.6 million, up 30% from a year earlier, and a GAAP net loss from continuing operations of $1.7 million, down from $15.8 million. The company also completed the $73.0 million cash sale of its SciSafe biostorage subsidiary on November 12, 2024, and cut its full-year 2024 total revenue guidance to $98.0 million to $100.0 million from $99.0 million to $101.0 million, citing the divestiture.
Q3 2024 total revenue was $30.6 million, up from $23.6 million in Q3 2023 and up 8% sequentially.
Q3 2024 GAAP net loss from continuing operations was $1.7 million, or $0.04 per share, versus $15.8 million, or $0.36 per share, a year earlier.
Adjusted EBITDA was $6.1 million, or 20% of revenue, compared with $1.4 million, or 6%, in Q3 2023.
Cell Processing 2024 revenue guidance was raised to $72.0 million to $73.0 million, while Biostorage Services guidance was lowered to $26.0 million to $27.0 million.
Dave Inc. reported third-quarter 2024 revenue of $92.5 million, up 41% from a year earlier, and net income of $0.5 million, compared with a net loss of $12.1 million in the same quarter of 2023. The company raised its full-year 2024 revenue guidance to $340 million to $343 million and its Adjusted EBITDA guidance to $71 million to $74 million, which is a positive signal for shareholders on both growth and profitability.
Q3 2024 revenue was $92.5 million, up 41% year over year, and net income was $0.5 million versus a $12.1 million loss in Q3 2023.
Q3 2024 Adjusted EBITDA was $24.7 million, compared with a $2.5 million loss in Q3 2023.
Full-year 2024 revenue guidance was raised to $340 million to $343 million from $310 million to $325 million.
Full-year 2024 Adjusted EBITDA guidance was raised to $71 million to $74 million from $40 million to $50 million.
ICU Medical reported third quarter 2024 revenue of $589.1 million, up from $553.3 million a year earlier, but swung to a GAAP net loss of $33.0 million from net income of $7.2 million. The company also widened its full-year 2024 GAAP net loss outlook, while narrowing its adjusted EBITDA range, so shareholders face a mixed picture on reported results and updated guidance.
Q3 2024 revenue was $589.1 million, up from $553.3 million in Q3 2023.
GAAP net loss was $33.0 million, or $1.35 per diluted share, versus net income of $7.2 million, or $0.30 per share, a year earlier.
Adjusted diluted EPS was $1.59 versus $1.57, and adjusted EBITDA was $94.8 million versus $89.8 million.
FY2024 GAAP net loss outlook moved to $122 million to $130 million from $108 million to $118 million; adjusted EBITDA outlook is now $355 million to $365 million.
NCR Atleos reported third quarter 2024 results on November 12, 2024. Revenue was $1.08 billion, up from $1.07 billion a year earlier, and GAAP net income attributable to Atleos was $24 million, compared with a net loss of $58 million a year earlier. The company reaffirmed its full-year 2024 guidance and said non-GAAP EPS guidance moved to the high end of its range, which matters to shareholders because it signals results ahead of the company's prior expectations.
Q3 revenue $1.08 billion vs. $1.07 billion a year earlier; Adjusted EBITDA $207 million vs. $210 million
GAAP diluted EPS $0.32 vs. loss of $0.82 a year earlier; non-GAAP diluted EPS $0.89
Full-year 2024 non-GAAP diluted EPS guidance of approximately $3.12, versus previous range of $2.90 to $3.20
October 17, 2024 debt refinancing reduced spread to SOFR by about 100 basis points on roughly $1.7 billion of variable rate debt
ZoomInfo reported third quarter 2024 results with GAAP revenue of $303.6 million, down 3% from a year earlier, and GAAP operating income of $43.5 million, down 31%. It raised its full-year 2024 adjusted net income per share guidance to $0.92-$0.93, from $0.86-$0.88 previously, while narrowing its full-year revenue guidance to $1.201-$1.204 billion.
Q3 2024 GAAP revenue was $303.6 million, down 3% year over year; GAAP diluted EPS was $0.07 versus $0.08 a year earlier.
Adjusted net income per share rose to $0.28 from $0.26, and adjusted operating income was $111.7 million, down 11%.
Full-year 2024 adjusted EPS guidance was raised to $0.92-$0.93; GAAP revenue guidance is $1.201-$1.204 billion, versus $1.190-$1.205 billion previously.
The company repurchased 24,478,696 shares for $242.1 million in the quarter, and has repurchased about 17% of outstanding shares since a buyback began in March 2023.
Maplebear Inc. (Instacart) reported third-quarter 2024 results on November 12, 2024, with GTV of $8,303 million, up 11% year-over-year, and total revenue of $852 million, up 12%. GAAP net income was $118 million and adjusted EBITDA was $227 million, up 39%, and the company gave a fourth-quarter GTV outlook of $8,500 million to $8,650 million. On November 5, 2024, the Board raised the share repurchase authorization to $750 million from $500 million, which matters to shareholders because it adds capacity to buy back stock.
Total revenue was $852 million, up 12% year-over-year; GAAP net income was $118 million, the fourth straight quarter of positive GAAP net income.
Adjusted EBITDA was $227 million, up 39%; operating cash flow was $185 million, up 67%.
Q4 2024 outlook: GTV of $8,500 million to $8,650 million and adjusted EBITDA of $230 million to $240 million.
Board approved a buyback of up to $750 million on November 5, 2024, up from $500 million authorized in June 2024; about $68 million remained under the previous program as of September 30, 2024.
Perdoceo reported third-quarter 2024 revenue of $169.8 million, down 5.6% from the prior year quarter, and diluted EPS of $0.57 versus $0.62. The company raised its full-year 2024 outlook, with adjusted EPS now expected at $2.25 to $2.28, while revenue and reported EPS declined in the quarter.
Q3 2024 revenue $169.8 million, down 5.6%; year-to-date revenue $504.8 million, down 10.2%
Q3 diluted EPS $0.57 vs. $0.62; adjusted diluted EPS $0.59 vs. $0.64
Q3 operating income up 4.0% to $44.8 million; enrollments up 11.0% to 40,400
Full-year 2024 adjusted EPS outlook $2.25 to $2.28 vs. $2.10 in 2023; quarterly dividend of $0.13 per share payable December 13, 2024
Sunstone Hotel Investors reported third-quarter 2024 net income of $3.2 million, down from $15.6 million a year earlier, and lowered its full-year 2024 net income and Adjusted FFO per share guidance, citing labor activity at the Hilton San Diego Bayfront, Florida weather and a slower recovery in Maui. The company also entered a $100 million unsecured delayed draw term loan that it expects to draw in early December to repay a $72.1 million loan secured by the JW Marriott New Orleans, which it says would leave all its hotels unencumbered and no debt maturities before 2026.
Q3 2024 net income was $3.2 million versus $15.6 million in Q3 2023; Adjusted EBITDAre fell 15.9% to $53.6 million
Adjusted FFO per diluted share was $0.18 versus $0.23, down 21.7%; comparable RevPAR fell 1.3% to $207.56
Full-year 2024 net income guidance is now $31 million to $41 million, down from $43 million to $53 million; Adjusted FFO per share guidance is $0.75 to $0.80, down from $0.79 to $0.84
The $100 million term loan matures November 7, 2025, with two six-month extension options; the company repurchased 2,688,582 shares year to date through November 11, 2024
Repligen reported third-quarter 2024 revenue of $155 million, up 10% from a year earlier, and narrowed its full-year 2024 revenue guidance to $630 million-$639 million while keeping the midpoint unchanged. GAAP results swung to a small loss, which the company attributed in part to $17.4 million of incremental stock compensation tied to the CEO's transition to Executive Chair, and the filing references a prior restatement of financial statements.
Q3 2024 revenue $155 million vs. $141 million in Q3 2023, up 10%
GAAP net loss of $0.7 million, or $0.01 per diluted share, vs. net income of $17 million, or $0.30 per share
Adjusted (non-GAAP) diluted EPS $0.43 vs. $0.23; includes $17.4 million of CEO transition stock compensation excluded from adjusted results
Schrödinger reported third-quarter 2024 total revenue of $35.3 million, down from $42.6 million a year earlier, while software revenue rose 10%. The net loss narrowed to $38.1 million from $62.0 million, mainly due to changes in the fair value of equity investments, and the company raised the low end of its 2024 software revenue growth guidance. The company also said Novartis will pay $150 million upfront under a new collaboration.
Total revenue fell 17% to $35.3 million; software revenue rose 10% to $31.9 million, while drug discovery revenue fell to $3.4 million from $13.7 million.
Software gross margin decreased to 73% from 76%; operating expenses rose to $86.2 million from $79.8 million.
2024 software revenue growth guidance is now 8% to 13%; drug discovery revenue guidance is $20 million to $30 million.
Novartis will pay Schrödinger $150 million upfront under a multi-target collaboration announced November 12, 2024.
Mosaic reported third-quarter 2024 net income of $122 million, or $0.38 per diluted share, compared with a net loss of $4 million a year earlier, but revenue fell 21% to $2.8 billion on lower selling prices and adjusted EBITDA dropped to $448 million from $594 million. The company also said CFO Clint Freeland will retire, with Luciano Siani Pires succeeding him as chief financial officer on January 1, 2025.
Q3 2024 net income $122 million ($0.38 per diluted share) vs. net loss of $4 million in Q3 2023; adjusted EPS $0.34 vs. $0.68 a year earlier
Revenue $2.8 billion, down 21% from the year-ago period; adjusted EBITDA $448 million vs. $594 million
Clint Freeland to retire; Luciano Siani Pires joins as CFO designate November 18, 2024 and becomes CFO January 1, 2025
Year-to-date capital return of $415 million, including $210 million of share repurchases
Aramark reported fiscal 2024 revenue of $17.4 billion, up 8%, and operating income of $707 million, up 13%. GAAP earnings per share fell 42% to $0.99 because the prior year included a gain from the sale of its stake in AIM Services, while adjusted EPS rose 35% to $1.55. The board approved a $500 million share repurchase program and an 11% increase in the quarterly dividend, and guided fiscal 2025 adjusted operating income growth of 15% to 18%.
Fiscal 2024 revenue was $17.4 billion, up 8%, with organic revenue up 10%
Operating income rose 13% to $707 million; adjusted operating income rose 20% to $882 million
GAAP EPS was $0.99 versus $1.71 a year earlier; adjusted EPS was $1.55, up 35%
Fiscal 2025 outlook: organic revenue growth of 7.5% to 9.5%, adjusted operating income growth of 15% to 18%, and adjusted EPS growth of 23% to 28%
First Advantage reported third-quarter 2024 revenue of $199.1 million, down 0.6% from a year earlier, and a net loss of $8.9 million versus net income of $10.8 million in the prior-year quarter. The company closed its Sterling acquisition on October 31, 2024, and kept its standalone full-year 2024 guidance while issuing combined-company guidance that includes Sterling, which shareholders will need to weigh against the lower quarterly results.
Q3 2024 revenue was $199.1 million, versus $200.4 million in Q3 2023; adjusted EBITDA was $64.0 million, versus $64.8 million.
GAAP diluted net loss per share was $(0.06), versus diluted net income of $0.07 per share a year earlier; adjusted diluted EPS was $0.26, versus $0.28.
The net loss includes $13.2 million of expenses related to the Sterling acquisition.
Standalone 2024 revenue guidance of $750 million to $800 million was maintained; combined-company revenue guidance is $858 million to $918 million.
HEI reported a third-quarter 2024 net loss of $104.4 million, or $0.91 per share, compared with net income of $41.1 million, or $0.37 per share, a year earlier. The loss includes a $203.0 million accrual for estimated Maui wildfire liabilities and a $35.2 million asset impairment at Pacific Current, while revenue rose to $938.4 million from $901.9 million. HEI also said signed settlement agreements in the Maui wildfire tort litigation resolved the going concern matter disclosed in the prior quarter.
Net loss of $104.4 million, or $0.91 per share, versus net income of $41.1 million, or $0.37 per share, in 3Q23
Total revenues of $938.4 million, up from $901.9 million in 3Q23
Core net income of $52.2 million, or $0.46 per share, versus $61.5 million, or $0.56 per share, in 3Q23
Settlement agreements finalized November 4, 2024; HEI expects to pay a total $1.92 billion in four annual installments of about $478.8 million
RB Global reported third-quarter 2024 results, with total revenue down 4% year-over-year to $981.8 million and GAAP net income up 20% to $76.0 million. Diluted adjusted EPS fell 1% to $0.71, and the company raised the low end of its full-year 2024 Adjusted EBITDA outlook to $1,235 million to $1,270 million, while also declaring a $0.29 quarterly dividend.
Total revenue fell 4% to $981.8 million, and gross transaction value (GTV) fell 7% to $3.6 billion for the quarter.
Net income rose 20% to $76.0 million, and diluted EPS rose 20% to $0.36; diluted adjusted EPS fell 1% to $0.71.
Full-year 2024 Adjusted EBITDA outlook is now $1,235 million to $1,270 million, up from $1,220 million to $1,270 million.
Board member Jeffrey Smith retired effective November 6, 2024, and the board reduced authorized directors from eleven to ten.
RingCentral reported third-quarter 2024 total revenue of $609 million, up 9% year over year, and GAAP operating income of $3 million, compared with a loss of $54 million a year earlier. The company raised its full-year 2024 total revenue range to $2.397 billion to $2.399 billion and its non-GAAP EPS outlook to $3.69, and it named Abhey Lamba as Chief Financial Officer.
Total revenue was $609 million, up from $558 million; subscriptions revenue was $583 million, up 10%.
GAAP net loss per share was ($0.09), compared with ($0.45) a year earlier; diluted non-GAAP EPS was $0.95, compared with $0.78.
Full-year 2024 non-GAAP EPS guidance was raised to $3.69, and free cash flow guidance was raised to $400 million to $405 million.
Abhey Lamba was appointed Chief Financial Officer.
Corpay reported third-quarter 2024 revenue of $1,029.2 million, up 6%, and diluted EPS of $3.90, up 7%, with adjusted diluted EPS of $5.00, up 11%. The company slightly lowered its full-year 2024 revenue guidance, citing fuel prices and foreign exchange rates, while maintaining its $19.00 cash EPS guide, and the board raised the share repurchase authorization by $1 billion.
Q3 2024 revenue of $1,029.2 million, up 6% from $970.9 million; first quarter above $1 billion, per the company
Q3 diluted EPS $3.90, up 7%; adjusted diluted EPS $5.00, up 11% from $4.49
2024 revenue guidance lowered to $3,980 million to $4,010 million (midpoint $3,995 million); cash EPS guide maintained at $19.00
Share repurchase authorization increased by $1 billion; $500 million Term Loan B upsizing completed September 26, 2024
A10 Networks reported third-quarter 2024 revenue of $66.7 million, up from $57.8 million a year earlier, and GAAP net income of $12.6 million, or $0.17 per diluted share, compared with $6.5 million, or $0.09, in the prior-year quarter. The Board also approved a $0.06 quarterly dividend and a new repurchase program of up to $50 million of common stock, and the filing contains no updated revenue or profit guidance.
Q3 2024 revenue was $66.7 million versus $57.8 million in Q3 2023; nine-month revenue was $187.5 million versus $181.3 million.
GAAP net income was $12.6 million ($0.17 per diluted share) versus $6.5 million ($0.09) a year earlier; non-GAAP EPS was $0.21 versus $0.16.
The Board approved a $0.06 per share quarterly dividend, payable December 2, 2024, to holders of record on November 18, 2024.
A new repurchase program authorizes up to $50 million of common stock, with no specified term; the company plans to fund it from existing cash and operating cash flow.
Brighthouse Financial reported third quarter 2024 net income available to shareholders of $150 million, or $2.47 per diluted share, down from $453 million a year earlier. Adjusted earnings rose to $767 million, but that figure includes $524 million of net favorable notable items tied to the annual actuarial review. The estimated combined RBC ratio of 365% to 385% is below the company's 400% to 450% target range, and the company said it is in the final stages of a reinsurance transaction intended to address this.
Net income available to shareholders was $150 million, or $2.47 per diluted share, versus $453 million, or $6.89 per share, in Q3 2023.
Adjusted earnings were $767 million, or $12.58 per diluted share, including $524 million of net favorable notable items; adjusted earnings less notable items were $243 million, or $3.99 per share.
Estimated combined RBC ratio was between 365% and 385% at September 30, 2024, below the 400% to 450% target range; a reinsurance transaction is in final stages and expected before year-end.
The company repurchased about $64 million of common stock in Q3 2024 and about $215 million year-to-date through November 1, 2024.
News Corp reported fiscal first-quarter 2025 results for the three months ended September 30, 2024, with revenue of $2.58 billion, up 3%, and net income of $144 million, up from $58 million a year earlier. The company also said CFO Susan Panuccio will leave the role on January 1, 2025, and be succeeded by Lavanya Chandrashekar, while director Kelly Ayotte will not stand for re-election.
Revenue was $2.58 billion, up 3% from $2.50 billion; EPS were $0.21 versus $0.05 a year earlier
Total Segment EBITDA rose 14% to $415 million; adjusted EPS were $0.21 versus $0.16
Lavanya Chandrashekar, formerly CFO of Diageo plc, becomes CFO effective January 1, 2025; Panuccio stays as Senior Advisor through June 29, 2025
Board size will be reduced to six members after Kelly Ayotte's departure, which the filing says did not result from any disagreement with the company
DXC Technology reported second quarter fiscal 2025 results for the quarter ended September 30, 2024, with revenue down 5.7% to $3.24 billion and GAAP diluted EPS down 53.1% to $0.23. The company raised its full-year non-GAAP EPS, adjusted EBIT margin and free cash flow guidance, but full-year organic revenue guidance was revised to a decline of 5.5% to 4.5% from 6.0% to 4.0%, so shareholders see a higher profit outlook alongside falling sales and lower GAAP earnings.
Quarterly revenue was $3.24 billion, down 5.7% year-over-year (down 5.6% on an organic basis).
GAAP diluted EPS was $0.23, down 53.1%; non-GAAP diluted EPS was $0.93, up 32.9%.
Full-year non-GAAP diluted EPS guidance rose to $3.00-$3.25 from $2.75-$3.00; free cash flow guidance rose to about $550 million from about $450 million.
Full-year revenue guidance is $12.9 billion to $13.1 billion, a decline of 5.5% to 4.5% on an organic basis versus the prior 6.0% to 4.0%.
AMN Healthcare reported third quarter 2024 revenue of $687.5 million, down 19% from a year earlier, with GAAP diluted EPS of $0.18 versus $1.39 and adjusted diluted EPS of $0.61 versus $1.97. The company guided fourth quarter revenue to $685 million to $705 million, 14% to 16% below the prior year, and separately amended its credit agreement to allow a higher maximum net leverage ratio through December 31, 2025.
Q3 2024 revenue was $687.5 million, down 19% from $853.5 million in Q3 2023; net income was $7.0 million versus $53.2 million
Fourth quarter 2024 guidance: revenue of $685 million to $705 million and operating margin of 1.8% to 2.5%
Fourth Amendment dated November 5, 2024 raises the maximum Consolidated Net Leverage Ratio to 4.50 to 1.00 for December 31, 2024 through December 31, 2025, reverting to 4.00 to 1.00 afterward
Net leverage ratio was 2.8 to 1.0 at September 30, 2024, and the company reduced debt by $60 million in the quarter
Solventum reported third-quarter 2024 sales of $2.082 billion, up 0.4%, while GAAP earnings per share fell to $0.70 from $2.66 a year earlier and adjusted EPS was $1.64 versus $2.87. The company raised its full-year 2024 adjusted EPS guidance to $6.50 to $6.65 from $6.30 to $6.50, so shareholders get a higher outlook alongside a sharp drop in quarterly profit.
Q3 2024 net sales $2.082 billion, up 0.4%; organic sales up 0.3%
GAAP EPS $0.70 vs. $2.66 in Q3 2023; adjusted EPS $1.64 vs. $2.87
Full-year 2024 adjusted EPS guidance raised to $6.50 to $6.65 (previously $6.30 to $6.50)
Full-year free cash flow guidance raised to $750 million to $850 million (previously $700 million to $800 million)
Alarm.com reported third-quarter 2024 results for the quarter ended September 30, 2024. Total revenue rose 8.4% to $240.5 million, and GAAP net income attributable to common stockholders rose 87.9% to $36.7 million, or $0.67 per diluted share. The company also increased its full-year 2024 guidance, which points to higher expected revenue and profitability for shareholders.
Q3 total revenue rose 8.4% to $240.5 million; SaaS and license revenue rose 9.8% to $159.3 million.
GAAP diluted earnings per share were $0.67, compared with $0.37 in the third quarter of 2023.
Full-year 2024 total revenue guidance is $933.7 million to $935.9 million; non-GAAP adjusted EBITDA guidance is $174.0 million to $176.0 million.
Cash and cash equivalents were $1.17 billion at September 30, 2024, helped by the May 2024 issuance of $500.0 million in convertible notes.
Adeia reported third-quarter 2024 revenue of $86.1 million, down from $101.4 million a year earlier, and GAAP diluted EPS of $0.17, down from $0.21. It narrowed its full-year 2024 revenue outlook to $370 million-$400 million from $380 million-$420 million and lowered its GAAP net income outlook, which weighs on shareholders even though the board raised its share repurchase authorization to $200.0 million.
Q3 2024 revenue was $86.1 million, versus $101.4 million in Q3 2023 and $87.4 million in Q2 2024.
Q3 2024 GAAP diluted EPS was $0.17 (Q3 2023: $0.21); non-GAAP diluted EPS was $0.27 (Q3 2023: $0.38).
Full-year 2024 GAAP net income outlook was lowered to $65.9 million-$69.3 million from $71.4 million-$75.6 million.
The board raised the share repurchase authorization to $200.0 million in October, and declared a $0.05 per share dividend payable December 18, 2024.
Motorola Solutions reported third-quarter 2024 sales of $2.8 billion, up 9% from a year earlier, with GAAP EPS of $3.29 (up 22%) and non-GAAP EPS of $3.74 (up 17%). The company raised its full-year 2024 revenue growth outlook to 8.25% from about 8% and its non-GAAP EPS outlook to $13.63 to $13.68 from $13.22 to $13.30.
Q3 2024 sales were $2,790 million versus $2,556 million in Q3 2023; GAAP operating earnings were $711 million, up 11%.
Software and Services segment GAAP operating earnings fell 4% to $265 million, while its sales rose 7% to $1,006 million.
Operating cash flow was $759 million and free cash flow was $702 million, compared with $714 million and $649 million a year earlier.
The company paid $164 million in dividends and reported backlog of $14.1 billion, down 1% from the year-ago quarter.
Genpact reported third-quarter 2024 revenue of $1.21 billion, up 7% year over year, and diluted EPS of $0.74, up 16%. The company raised its full-year 2024 outlook, with adjusted diluted EPS now expected at $3.23 to $3.24, up from $3.14 to $3.18 previously.
Q3 2024 net income was $133 million, up 13% year over year, and adjusted diluted EPS was $0.85, up 12%.
Full-year 2024 revenue guidance is $4.740 billion to $4.751 billion, up from prior growth guidance of about 4.0% to 5.0% as reported.
Genpact repurchased about 1.9 million common shares in the quarter for about $75 million.
Fortinet reported third-quarter 2024 results on November 7, 2024, with total revenue of $1.51 billion, up 13.0% from a year earlier, and GAAP diluted earnings of $0.70 per share, up from $0.41. The company raised its 2024 revenue and non-GAAP operating margin guidance and increased its share repurchase authorization by $1 billion, which leaves about $2.03 billion available for buybacks.
Total revenue was $1.51 billion, up 13.0% from $1.33 billion in Q3 2023; service revenue rose 19.1%.
GAAP net income was $539.9 million, compared with $322.9 million in Q3 2023; GAAP diluted EPS was $0.70 versus $0.41.
Fiscal 2024 revenue guidance is $5.856 billion to $5.916 billion, and non-GAAP operating margin guidance is 32.9% to 33.9%.
As of November 7, 2024, about $2.03 billion remained available for share repurchases.
ADMA Biologics reported third quarter 2024 revenue of $119.8 million, up 78% from a year earlier, and GAAP net income of $35.9 million, compared with $2.6 million in the prior-year quarter. The company raised its full-year 2024 and 2025 revenue, GAAP net income and Adjusted EBITDA guidance, and appointed KPMG LLP as its new independent auditor.
Q3 2024 revenue was $119.8 million versus $67.3 million in Q3 2023; corporate gross margin was 50% versus 37%.
Q3 2024 GAAP net income was $35.9 million, or $0.15 per diluted share, versus $2.6 million a year earlier.
FY 2024 revenue guidance rose to more than $415 million from more than $400 million; FY 2024 GAAP net income guidance rose to more than $120 million from $105 million.
KPMG LLP was engaged as the new independent registered public accounting firm effective November 7, 2024, succeeding CohnReznick.
Expedia Group reported third-quarter 2024 revenue of $4.1 billion, up 3% from a year earlier, and GAAP diluted earnings per share of $5.04 versus $2.87, with net income attributable to the company of $684 million. The company also raised its full-year guidance, though the filing text does not give the new figures. Chief Financial Officer Julie Whalen will step down once a successor is appointed, which is expected before February 17, 2025, and she resigned from the board effective immediately.
Revenue of $4.1 billion rose 3% year over year, including a 2-point negative impact from foreign exchange; gross bookings of $27.5 billion rose 7%
GAAP diluted EPS was $5.04 versus $2.87; adjusted EPS was $6.13 versus $5.41, up 13%
Adjusted EBIT was $892 million, down 1% from $903 million
Julie Whalen will remain CFO through February 17, 2025, and she resigned from the board effective November 7, 2024
Collegium reported third-quarter 2024 product revenue of $159.3 million, up 17% year over year, while GAAP net income fell to $9.3 million from $20.6 million a year earlier. The company reaffirmed its full-year 2024 product revenue guidance of $620.0 million to $635.0 million and said Vikram Karnani will become President and Chief Executive Officer effective November 12, 2024, succeeding Michael Heffernan, who remains Chairman.
Q3 2024 product revenue was $159.3 million versus $136.7 million a year earlier; GAAP diluted EPS was $0.27 versus $0.53
Q3 2024 adjusted EBITDA was $105.1 million, up 18% from $89.4 million; GAAP operating expenses rose to $62.0 million from $35.3 million
Full-year 2024 guidance reaffirmed: product revenue $620.0 million to $635.0 million, adjusted EBITDA $395.0 million to $405.0 million
Karnani's agreement includes a $875,000 base salary, a 75% target bonus, a $500,000 signing bonus and $10 million in equity awards
Medical Properties Trust reported a third quarter 2024 net loss attributable to common stockholders of $801 million, or $1.34 per share, versus net income of $117 million, or $0.19 per share, a year earlier. The loss reflects about $608 million of impairment charges, largely tied to Steward hospitals, while normalized funds from operations (NFFO) fell to $94 million, or $0.16 per share, from $226 million, or $0.38 per share.
Q3 2024 net loss of $801 million ($1.34 per share) vs. net income of $117 million ($0.19 per share) in Q3 2023
NFFO of $94 million ($0.16 per share) vs. $226 million ($0.38 per share) a year earlier
$425 million impairment of Steward working capital loans and $134 million reduction in the fair value of the PHP Holdings investment
Sold 18 freestanding emergency department facilities and one general acute hospital in Arizona and Colorado for about $246 million
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