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).
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%.
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
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
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.
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
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).
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.
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.
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.
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
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
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.
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
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.
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%.
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)
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
Under Armour reported second-quarter fiscal 2025 results for the quarter ended September 30, 2024, with revenue down 11% to $1.4 billion and GAAP net income of $170 million, compared with $105 million a year earlier. The company raised its fiscal 2025 profit outlook, narrowing the expected operating loss to $176 million to $196 million from $220 million to $240 million, while also increasing marketing investment by about $25 million.
Net revenues fell 10.7% to $1,399 million; North America revenue decreased 12.9% to $863 million.
Diluted EPS was $0.39 on a GAAP basis and $0.30 adjusted, versus $0.23 GAAP a year earlier.
Fiscal 2025 operating loss outlook is $176 million to $196 million, versus the prior $220 million to $240 million.
Cash and cash equivalents totaled $531 million at quarter end, with no borrowings under the $1.1 billion revolving credit facility.
Bentley Systems reported third-quarter 2024 revenue of $335.2 million, up 9.3% year over year, while GAAP diluted earnings per share fell to $0.13 from $0.16. The CFO said 2024 total revenue is expected at the lower end of the annual outlook range, though the company expects an increased cash flow outlook for the year.
Q3 2024 total revenues were $335.2 million, up 9.3% (9.1% in constant currency) from a year earlier.
Q3 GAAP diluted EPS was $0.13 versus $0.16; adjusted EPS was $0.24 versus $0.22.
CFO Werner Andre said 2024 total revenue growth is expected at the lower end of the annual outlook range, citing declines in Cohesive professional services for Maximo.
On October 18, 2024, the company entered into a five-year $1.3 billion revolving credit facility with a $500 million accordion feature.
Tapestry reported fiscal first-quarter 2025 revenue of $1.51 billion, roughly flat year over year. Reported diluted EPS fell to $0.79 from $0.84, while non-GAAP diluted EPS rose to $1.02 from $0.93, after $0.23 per share of acquisition-related costs. The company raised its fiscal 2025 non-GAAP EPS outlook to $4.50 to $4.55 from $4.45 to $4.50.
Net sales were $1.51 billion, approximately flat versus the prior year on both reported and constant currency bases; Coach sales rose 1%.
Reported net income was $187 million, or $0.79 per diluted share, versus $195 million, or $0.84, a year earlier.
Non-GAAP diluted EPS was $1.02 versus $0.93; acquisition costs, mainly financing and professional fees tied to the proposed Capri Holdings acquisition, reduced EPS by $0.23.
Fiscal 2025 non-GAAP EPS guidance is $4.50 to $4.55; the quarterly dividend is $0.35 per share, payable December 23, 2024.
Wolverine World Wide reported third-quarter 2024 results on November 7, 2024. Reported revenue fell 16.6% to $440.2 million, while diluted earnings per share rose to $0.28 from $0.11 a year earlier. The company raised its full-year 2024 revenue and EPS outlook, but its ongoing business revenue still declined 7.0% from the prior year.
Q3 2024 reported revenue of $440.2 million, down 16.6% from $527.7 million; ongoing revenue of $440.1 million, down 7.0% from $473.3 million
Diluted EPS of $0.28 vs. $0.11 a year earlier; adjusted diluted EPS of $0.29
Full-year 2024 ongoing revenue outlook raised to $1.730 to $1.745 billion from $1.71 to $1.73 billion
Full-year diluted EPS outlook raised to $0.56 to $0.66 from $0.53 to $0.63; net debt at quarter end was $563 million, down $373 million year over year
Elanco reported third-quarter 2024 revenue of $1,030 million, down 4% on a reported basis and up 1% organic constant currency, and adjusted EPS of $0.13 versus $0.18 a year earlier. Reported net income of $364 million was driven by a $640 million pre-tax gain on the July 2024 sale of its aqua business, but the company's adjusted results declined. It also narrowed its full-year 2024 guidance, lowering the top end of its adjusted EBITDA range and reported EPS range.
Q3 adjusted EBITDA was $163 million, down 24%, and adjusted EBITDA margin was 15.8% versus 20.0% a year earlier.
Full-year 2024 revenue guidance was narrowed to $4,420 million to $4,450 million from $4,410 million to $4,460 million.
Full-year adjusted EBITDA guidance was lowered to $900 million to $930 million from $900 million to $940 million; reported EPS guidance was cut to $0.58 to $0.64 from $0.63 to $0.71.
Fourth-quarter 2024 revenue is expected between $1.00 billion and $1.03 billion, and the company expects to provide detailed 2025 guidance in February 2025.
Privia Health reported third-quarter 2024 results on November 7, 2024, with revenue up 4.9% to $437.9 million and adjusted EBITDA up 25.8% to $23.6 million. GAAP net income fell 37.4% to $3.5 million, and GAAP diluted EPS fell to $0.03 from $0.05. The company raised its full-year 2024 guidance, with all listed metrics now at or above the high end of prior ranges.
Q3 2024 total revenue was $437.9 million, up 4.9% from $417.3 million; GAAP net income was $3.5 million versus $5.6 million a year earlier.
Adjusted EBITDA was $23.6 million, up 25.8%; non-GAAP adjusted net income per diluted share was $0.20 versus $0.17.
Full-year 2024 adjusted EBITDA guidance was raised to $85 million to $90 million, at the high end of the prior range.
Cash and cash equivalents were $422.0 million at September 30, 2024, with no debt.
RXO reported third-quarter 2024 revenue of $1.04 billion, up from $976 million a year earlier, and adjusted EBITDA of $33 million, up from $26 million. The company posted a GAAP net loss of $243 million, which included $248 million in transaction, integration, restructuring and other costs, and it completed its Coyote Logistics acquisition on September 16, 2024.
Revenue was $1.04 billion versus $976 million in Q3 2023; gross margin was 17.3% versus 17.7%.
GAAP net loss was $243 million, or $1.81 per diluted share, versus a net loss of $1 million in Q3 2023; adjusted diluted EPS was $0.05.
Q4 2024 outlook: adjusted EBITDA of $40 million to $45 million and Brokerage gross margin of 12% to 14%.
Expected annualized cost synergies from Coyote integration were raised to at least $40 million.
Kodiak Gas Services reported third-quarter 2024 revenue of $324.6 million, up from $231.0 million a year earlier, and record quarterly Adjusted EBITDA of $168.4 million. The company posted a net loss of $6.2 million, compared with net income of $21.8 million in the prior-year quarter, after a $9.9 million impairment, a $10.4 million loss on asset sales and a $20.3 million non-cash hedge loss. It also raised the low end of its full-year 2024 Adjusted EBITDA guidance and gave an early 2025 Adjusted EBITDA outlook of $675 million to $725 million.
Total revenues were $324.6 million for the quarter ended September 30, 2024, versus $231.0 million in the year-earlier quarter.
Net loss was $6.2 million, versus net income of $21.8 million a year earlier, including a $20.3 million non-cash, mark-to-market loss on interest rate hedges.
Full-year 2024 Adjusted EBITDA guidance is now $600 million to $610 million, a $10 million increase to the low end.
Early 2025 Adjusted EBITDA outlook is $675 million to $725 million; the company repurchased one million shares for $25 million in the quarter.
Ormat Technologies reported third-quarter 2024 results for the period ended September 30, 2024. Total revenue rose 1.8% to $211.8 million, and Adjusted EBITDA rose 16.3% to $137.7 million, but net income attributable to stockholders fell 37.7% to $22.1 million and diluted EPS fell to $0.36 from $0.59. The company raised its full-year Adjusted EBITDA guidance to $540 million to $555 million and narrowed its full-year revenue guidance to $875 million to $893 million.
Q3 2024 total revenue was $211.8 million, up from $208.1 million a year earlier; net income attributable to stockholders was $22.1 million versus $35.5 million, which the company attributed mainly to a $9.4 million Kenya tax income recorded
Adjusted EBITDA was $137.7 million, up 16.3% from $118.3 million, with the Enel assets acquired in Q1 2024 among the contributors
2024 guidance: Adjusted EBITDA of $540 million to $555 million (raised); total revenues of $875 million to $893 million (narrowed)
Board declared a quarterly dividend of $0.12 per share, payable December 4, 2024, to holders of record as of November 20, 2024
Host reported third-quarter 2024 revenue of $1.319 billion, up 8.6% from a year earlier, while net income fell 25.7% to $84 million and Adjusted EBITDAre fell 10.2% to $324 million, partly due to lower insurance gains and 2023 business interruption proceeds. The company cut its full-year 2024 net income and Adjusted EBITDAre forecast midpoints by $25 million and $15 million, though it kept its comparable hotel RevPAR and Total RevPAR guidance unchanged. Shareholders face lower expected 2024 earnings, with hurricane damage continuing to affect Florida properties into 2025.
Third-quarter revenues were $1.319 billion, up 8.6% from $1.214 billion; diluted EPS was $0.12 versus $0.16.
Full-year 2024 net income guidance midpoint is $687 million, down from $712 million; Adjusted EBITDAre guidance midpoint is $1,630 million, down from $1,645 million.
Comparable hotel Total RevPAR rose 3.1% in the quarter; full-year RevPAR and Total RevPAR guidance was maintained.
The Don CeSar remains closed after Hurricanes Helene and Milton, with a phased reopening expected beginning in late first quarter 2025.
Crane NXT reported third-quarter 2024 sales of $403.5 million, up 14.3% from a year earlier, with the OpSec Security acquisition contributing $32.3 million of the increase. GAAP earnings per diluted share fell to $0.81 from $0.90, while Adjusted EPS rose to $1.16 from $1.09. The company narrowed full-year Adjusted EPS guidance to $4.22 to $4.30 from $4.10 to $4.35 and cut its Adjusted free cash flow conversion outlook to about 70% from about 100%.
Sales of $403.5 million, up 14.3%; core sales growth of 4.7%, and OpSec Security added $32.3 million (9.1%)
GAAP operating profit of $75.0 million versus $79.7 million a year earlier; GAAP operating margin 18.6% versus 22.6%
Full-year 2024 Adjusted EPS guidance narrowed to $4.22 to $4.30; Adjusted free cash flow conversion lowered to about 70% from about 100%
Quarterly dividend of $0.16 per share, payable December 11, 2024, to holders of record as of November 29, 2024
DoubleVerify reported third-quarter 2024 results on November 6, 2024, with revenue up 18% to $169.6 million and net income of $18.2 million, compared with $13.3 million a year earlier. The company adjusted its full-year revenue growth midpoint to 16%, citing moderated brand spending during the U.S. election season and a slower ramp in social measurement adoption, while raising its adjusted EBITDA margin midpoint to 33% and authorizing $200 million in additional share repurchases.
Net income of $18.2 million vs. $13.3 million a year earlier; diluted EPS of $0.10 vs. $0.08.
Adjusted EBITDA of $60.2 million, a 35% margin, vs. $45.7 million and 32% a year earlier.
Full-year 2024 revenue guidance of $660 million to $666 million, with growth midpoint adjusted to 16%; adjusted EBITDA guidance of $218 million to $224 million, with a 33% margin at the midpoint.
New $200 million repurchase authorization, bringing total available for buybacks to $275 million as of November 6, 2024.
Tanger reported third-quarter 2024 total revenues of $133.0 million, up from $117.3 million a year earlier, while net income available to common shareholders fell to $24.6 million from $27.2 million. The company raised its full-year 2024 guidance, including diluted Core FFO per share to $2.09 to $2.13 from $2.05 to $2.12.
Q3 2024 total revenues were $133.0 million versus $117.3 million in Q3 2023.
Q3 diluted EPS was $0.22 versus $0.26; FFO and Core FFO per diluted share were each $0.54 versus $0.50.
2024 diluted Core FFO per share guidance was revised to $2.09 to $2.13 from $2.05 to $2.12.
Diluted EPS guidance for 2024 was revised to $0.88 to $0.92 from $0.85 to $0.92.
For the three months ended September 30, 2024, e.l.f. Beauty reported net sales up 40% to $301.1 million, but GAAP net income fell to $19.0 million from $33.3 million and GAAP diluted earnings per share fell to $0.33 from $0.58. The company raised its fiscal 2025 net sales and adjusted earnings outlook, which gives shareholders higher expected sales and adjusted profit, while quarterly GAAP profit declined.
Net sales rose 40% to $301.1 million from $215.5 million a year earlier.
GAAP net income was $19.0 million versus $33.3 million; adjusted diluted EPS was $0.77 versus $0.82.
Fiscal 2025 net sales outlook raised to $1,315-1,335 million from $1,280-1,300 million.
Fiscal 2025 adjusted diluted EPS outlook raised to $3.47-3.53 from $3.36-3.41.
Brink's reported third-quarter 2024 revenue of $1,259 million, up 3% on a GAAP basis, while GAAP operating profit fell 19% to $112 million and GAAP EPS fell 33% to $0.65. The company updated its full-year 2024 outlook, citing currency and market headwinds in global services, and said organic growth in ATM managed services and digital retail solutions is now expected to exceed 20%.
Q3 2024 revenue $1,259 million, up 3% GAAP; operating profit $112 million, down 19%
Q3 GAAP EPS $0.65, down 33%; non-GAAP EPS $1.51, down 27%
Security losses rose $10 million year over year, mainly from one large loss event; company does not expect this to affect the full-year outlook
American Financial Group reported third quarter 2024 net earnings of $181 million ($2.16 per share), up from $177 million ($2.09 per share) a year earlier, while core net operating earnings fell to $194 million ($2.31 per share) from $208 million ($2.45 per share), mainly due to higher catastrophe losses including Hurricane Helene. The Board declared a $4.00 per share special dividend, totaling approximately $335 million, payable November 26, 2024, which shareholders of record on November 15, 2024 will receive.
Q3 2024 total revenues were $2.37 billion, up from $2.16 billion in Q3 2023.
Core net operating earnings were $194 million ($2.31 per share), down from $208 million ($2.45 per share) a year earlier.
Special dividend of $4.00 per share, approximately $335 million in aggregate, payable November 26, 2024 to holders of record on November 15, 2024.
The company estimates pretax losses of approximately $30 million from Hurricane Milton, to be reflected in fourth quarter 2024 results.
CVS Health reported third quarter 2024 results for the three months ended September 30, 2024. Total revenues rose 6.3% to $95.4 billion, but GAAP diluted EPS fell to $0.07 from $1.75 and Adjusted EPS fell to $1.09 from $2.21, mainly due to a decline in the Health Care Benefits segment, which recorded about $1.1 billion of premium deficiency reserves. The company expects these reserves to be substantially released in the fourth quarter of 2024.
Total revenues rose 6.3% to $95.4 billion; Health Care Benefits recorded an adjusted operating loss of $924 million versus adjusted operating income of $1.5 billion a year earlier.
GAAP diluted EPS was $0.07 versus $1.75 a year earlier; Adjusted EPS was $1.09 versus $2.21.
Restructuring charges of approximately $1.2 billion were recorded, including a $607 million store impairment tied to retail pharmacy stores to be closed in 2025.
Premium deficiency reserves of approximately $1.1 billion are expected to be substantially released during the fourth quarter of 2024.
Enovis reported third-quarter 2024 net sales of $505 million, up 21% on a reported basis, and a net loss from continuing operations of $34 million, or $0.61 per share, compared with a $0.36 loss a year earlier. Adjusted earnings per diluted share rose to $0.73 from $0.56, and the company raised its full-year adjusted EPS guidance to $2.75-$2.80, while narrowing its revenue and adjusted EBITDA expectations.
Q3 net sales of $505 million grew 21% reported and 6% on a comparable basis; Reconstructive sales rose 57% reported.
Q3 net loss from continuing operations was $34 million, or $0.61 per share; adjusted EPS was $0.73, up 30% year over year.
Full-year 2024 adjusted EPS guidance raised from $2.62-$2.77 to $2.75-$2.80.
Full-year revenue is estimated at $2.10 billion and adjusted EBITDA at $373-$378 million.
Noble Corporation plc reported third quarter 2024 results on November 5, 2024. Revenue rose from $697 million a year earlier, helped by the Diamond acquisition closed on September 4, but net income fell to $61 million from $158 million and diluted EPS fell to $0.40 from $1.09. The company also authorized an additional $400 million share repurchase and set fourth quarter 2024 revenue guidance of $850 million to $890 million.
Q3 2024 total revenue was $801 million, up from $697 million in Q3 2023 and $693 million in Q2 2024.
Q3 2024 net income was $61 million and diluted EPS was $0.40, versus $158 million and $1.09 a year earlier; adjusted diluted EPS was $0.58 versus $0.87.
On October 22, 2024, the Board authorized up to an additional $400 million in share repurchases; $250 million was repurchased in Q3.
Q4 2024 guidance: total revenue $850 million to $890 million; Adjusted EBITDA $275 million to $305 million; a $0.50 dividend was declared, payable December 19, 2024.
Assurant reported third quarter 2024 GAAP net income of $133.8 million, down 30% from a year earlier, as reportable catastrophes cut results, mainly in Global Housing. Excluding those catastrophes, adjusted earnings per share rose 9% to $5.08, and the company raised its 2024 outlook, which matters to shareholders because it signals stronger expected underlying earnings growth and planned share repurchases.
GAAP net income was $133.8 million, down 30% from $190.1 million; diluted EPS was $2.55 versus $3.54.
Reportable catastrophes totaled $138.2 million pre-tax in Q3 2024, compared with $26.4 million a year earlier.
Adjusted EBITDA excluding catastrophes rose 8% to $385.1 million; 2024 outlook now calls for low double-digit growth in that measure and mid- to high-teens growth in adjusted EPS excluding catastrophes.
The company expects to return $300 million through share repurchases in 2024, with $475 million remaining under its current authorization.
Gulfport Energy reported a third-quarter 2024 net loss of $14.0 million, compared with net income of $608.4 million a year earlier, and revenue of $253.9 million, down from $266.7 million. The company expanded its common stock repurchase authorization by 54% to $1.0 billion and lowered its full-year 2024 drilling and completion capital guidance, which matters to shareholders because it changes how cash flow is allocated.
Net loss of $14.0 million in the quarter, versus net income of $608.4 million in the third quarter of 2023, which included a $554.7 million deferred tax benefit.
Total revenues of $253.9 million, down from $266.7 million; diluted loss of $0.83 per share, versus diluted earnings of $27.37 per share a year earlier.
Adjusted EBITDA of $178.1 million and adjusted free cash flow of $72.6 million, which the company said were above analyst consensus expectations.
Repurchase authorization raised 54% to $1.0 billion through December 31, 2025, with about $481.3 million of remaining capacity; 2024 drilling and completion capital guidance cut to $325 million to $335 million.
Grocery Outlet reported third quarter fiscal 2024 net sales up 10.4% to $1.11 billion, while net income fell 10.9% to $24.2 million, or $0.24 per diluted share. The company lowered its fiscal 2024 adjusted diluted EPS guidance to $0.77 to $0.80 from $0.89 to $0.95 and adjusted EBITDA guidance to $237 million to $242 million from $252 million to $260 million, and it approved a new $100.0 million share repurchase program.
Q3 net sales rose 10.4% to $1.11 billion; comparable store sales rose 1.2%.
Q3 net income fell 10.9% to $24.2 million, or $0.24 per diluted share; adjusted EBITDA rose 6.0% to $72.3 million.
Fiscal 2024 adjusted diluted EPS guidance cut to $0.77 to $0.80 from $0.89 to $0.95.
New $100.0 million share repurchase program, effective immediately with no expiration date, replaces the 2021 program with $9.4 million remaining.
Essential Utilities reported third-quarter 2024 net income of $69.4 million, or $0.25 per share, down from $0.30 a year earlier, while revenue rose about 6% to $435.3 million. Year-to-date EPS of $1.50 rose about 9% from $1.37, helped by a first-quarter gain on an energy plant sale, and the company reinstated multi-year guidance of 5% to 7% compounded annual EPS growth through 2027, with 2025 EPS guidance of $2.07 to $2.11 that excludes the pending DELCORA acquisition.
Q3 2024 net income was $69.4 million, or $0.25 per share, versus $80.1 million, or $0.30, in Q3 2023; revenue rose to $435.3 million from $411.3 million.
Nine-month net income was $410.6 million, or $1.50 per share, versus $1.37 a year earlier, including a first-quarter gain on the energy plant sale.
2025 net income per diluted share guidance is $2.07 to $2.11, with 5% to 7% compounded annual EPS growth through 2027.
The 2024 EPS guidance of $1.96 to $2.00 was reaffirmed, and $500 million in three-year notes were issued in Q3.
Broadridge reported first-quarter fiscal 2025 results ended September 30, 2024, with total revenues down 1% to $1,423 million and diluted EPS down 11% to $0.68, while recurring revenues rose 3% to $900 million. The company raised its fiscal 2025 recurring revenue growth guidance to 6-8% constant currency from 5-7%, and reaffirmed 8-12% adjusted EPS growth, citing the recently closed SIS acquisition.
Total revenues decreased 1% to $1,423 million; operating income fell 9% to $134 million
Diluted EPS was $0.68 versus $0.76; adjusted EPS was $1.00 versus $1.09, down 8%
Fiscal 2025 recurring revenue growth guidance raised to 6-8% constant currency from 5-7%; adjusted EPS growth guidance of 8-12% unchanged
Acquisition of Kyndryl's SIS business completed November 1, 2024, for approximately $185 million
AdaptHealth reported third-quarter 2024 net revenue of $805.9 million, up 0.2%, and net income attributable to the company of $22.9 million, compared with a net loss of $454.1 million a year earlier. The company lowered its 2024 net revenue and adjusted EBITDA guidance while raising its free cash flow guidance, so results and outlook point in different directions for shareholders.
Net revenue was $805.9 million versus $804.0 million, and adjusted EBITDA was $164.3 million versus $161.2 million, up 1.9%.
Net income attributable to AdaptHealth was $22.9 million, compared with a net loss of $454.1 million in the prior-year quarter, which included a $511.9 million goodwill impairment.
2024 net revenue guidance was lowered to $3.220 billion to $3.260 billion from $3.255 billion to $3.315 billion.
2024 adjusted EBITDA guidance was lowered to $655 million to $675 million from $660 million to $700 million; free cash flow guidance was raised to $175 million to $195 million from $160 million to $180 million.
For the quarter ended September 30, 2024, Franklin BSP Realty Trust reported GAAP net income of $30.2 million, or $0.30 per diluted share, compared with a $3.8 million loss in the prior quarter. Distributable Earnings, a non-GAAP measure the company says supports its dividend, was a loss of $4.0 million, or $(0.10) per share, down from $32.4 million in the second quarter. The GAAP improvement was offset by that drop, and the company declared a third-quarter common dividend of $0.355 per share.
GAAP net income of $30.2 million ($0.30 diluted EPS) for Q3 2024, versus a $3.8 million loss in Q2 2024
Distributable Earnings of $(4.0) million, or $(0.10) per share fully converted, versus $32.4 million, or $0.31, in Q2 2024
Declared third-quarter common dividend of $0.355 per share; GAAP dividend coverage 85%, Distributable Earnings coverage (28)%
Book value $15.24 per diluted share fully converted; $31.1 million remained under the $65 million buyback as of October 30, 2024
Eversource Energy reported a third-quarter 2024 GAAP net loss of $118.1 million, or $0.33 per share, compared with earnings of $339.7 million, or $0.97 per share, a year earlier, due to losses on its offshore wind investments. Excluding those items, non-GAAP recurring earnings rose to $405.9 million, or $1.13 per share, and the company updated its 2024 non-GAAP EPS projection to $4.52 to $4.60 from $4.50 to $4.67. The results matter to shareholders because the GAAP loss reflects the completed exit from offshore wind, while the company reaffirmed 5% to 7% long-term EPS growth.
Q3 2024 GAAP loss of $118.1 million ($0.33 per share) vs. earnings of $339.7 million ($0.97) in Q3 2023; offshore wind losses totaled $524.0 million after tax year to date
Q3 2024 non-GAAP recurring EPS of $1.13 vs. $0.97 a year earlier; nine-month non-GAAP EPS of $3.56 vs. $3.38
2024 non-GAAP EPS projection updated to $4.52 to $4.60 from $4.50 to $4.67, citing higher interest expense; long-term EPS growth of 5% to 7% reaffirmed
Five-year capital plan through 2028 increased to $23.7 billion from $23.1 billion, reflecting Massachusetts Electric Sector Modernization Plan approval; conference call on November 5, 2024 at 9 a.m. Eastern
Voya Financial reported third-quarter 2024 results on Nov. 4, 2024. Net income available to common shareholders fell to $98 million, or $0.98 per diluted share, from $248 million, or $2.29, a year earlier, while adjusted operating earnings rose to $190 million, or $1.90 per diluted share, from $1.74. The board also authorized an additional $500 million of share repurchases, and the company said higher loss ratios in Stop Loss weighed on Health Solutions.
Net income available to common shareholders was $98 million, or $0.98 per diluted share, versus $248 million, or $2.29, in third-quarter 2023; the prior year included tax benefits and a Voya India revaluation gain.
Adjusted operating earnings were $190 million, or $1.90 per diluted share, versus $189 million, or $1.74, a year earlier.
Total revenues were $1,956 million versus $1,823 million in the prior-year quarter.
The board authorized an additional $500 million of share repurchases, and the company expects to return $0.8 billion of capital for full-year 2024.
Apple Hospitality REIT reported third-quarter 2024 results on November 4, 2024, with net income down 3.8% from a year earlier while Adjusted EBITDAre rose 5.7%. The company also lowered its full-year 2024 net income and Adjusted EBITDAre guidance midpoints slightly, so shareholders see mixed headline results and a modest guidance reduction.
Q3 2024 net income was $56.3 million, down 3.8% from $58.5 million; net income per share was $0.23, down from $0.26
Q3 2024 Adjusted EBITDAre rose 5.7% to $128.9 million, and MFFO rose 3.2% to $107.4 million
Nine-month net income was $184.2 million, up 17.6%, and Comparable Hotels RevPAR rose 0.8% in Q3 to $125.30
Versus the midpoint of prior guidance, 2024 net income is down $1 million and Adjusted EBITDAre is down $1.5 million; updated net income range is $204 million to $221 million
Douglas Emmett reported third-quarter 2024 revenue of $250.8 million, down 1.8% from a year earlier, mainly due to lower office occupancy. Net income attributable to common stockholders rose to $4.6 million, or $0.03 per diluted share, after a loss a year earlier, but FFO fell 3.8% to $86.0 million. The company increased its 2024 guidance, citing its third-quarter results and higher expectations for the fourth quarter.
Q3 2024 revenues: $250.8 million, down 1.8% year over year
Net income attributable to common stockholders: $4.6 million, or $0.03 per diluted share, versus a $13.4 million loss in Q3 2023
FFO: $86.0 million, or $0.43 per fully diluted share, down 3.8%
Raised 2024 guidance: diluted net income per share of $0.10 to $0.14; FFO per fully diluted share of $1.69 to $1.73
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