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).
CorVel reported results for the three months ended September 30, 2024, with revenue up 15% to $224 million and diluted EPS up 17% to $1.35 from a year earlier. For the six months, revenue reached $436 million and diluted EPS was $2.60, both higher than the prior-year period. The company ended the quarter with $138 million in cash and no borrowings, and the release gave no forward guidance.
Quarterly gross profit rose 15% to $50.7 million, at a 22.6% gross margin, versus $44.3 million a year earlier.
Six-month revenue was $436 million versus $386 million, and six-month diluted EPS was $2.60 versus $2.29.
The company repurchased $9.6 million of common stock during the quarter and held $138 million in cash with no borrowings.
Cabot reported fiscal fourth-quarter 2024 net sales of $1,001 million, up from $965 million a year earlier, and Adjusted EPS of $1.80, up from $1.65. GAAP diluted EPS fell to $2.43 from $4.10, and the company said its fourth-quarter results included a benefit from a lower operating tax rate. For fiscal 2025, Cabot expects Adjusted EPS of $7.40 to $7.80, compared with $7.06 in fiscal 2024.
Q4 net sales $1,001 million vs $965 million a year earlier; Q4 net income attributable to Cabot $137 million vs $234 million
Q4 Adjusted EPS $1.80 vs $1.65; GAAP diluted EPS $2.43 vs $4.10
Fiscal 2024 Adjusted EPS $7.06, up 31% from $5.38; fiscal 2025 Adjusted EPS outlook $7.40 to $7.80
Department of Energy selected Cabot for a $50 million award; final terms expected by January 2025; Investor Day set for December 4, 2024
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
Vornado Realty Trust reported a net loss attributable to common shareholders of $19,154,000, or $0.10 per diluted share, for the quarter ended September 30, 2024, compared with net income of $52,846,000, or $0.28 per diluted share, a year earlier. Revenues fell to $443,255,000 from $450,995,000, and FFO attributable to common shareholders plus assumed conversions dropped to $0.50 per diluted share from $0.62, so shareholders saw lower reported earnings and cash-flow-based performance in the quarter.
Q3 2024 net loss attributable to common shareholders: $19,154,000 ($0.10 per diluted share), versus net income of $52,846,000 ($0.28) in Q3 2023
Q3 2024 FFO attributable to common shareholders plus assumed conversions: $99,256,000 ($0.50 per diluted share), versus $119,487,000 ($0.62)
FFO, as adjusted, was $102,755,000 ($0.52 per diluted share), versus $127,241,000 ($0.66); same store NOI at share fell 8.4% year over year for the three months
Revenues for the quarter were $443,255,000, compared with $450,995,000 in the prior-year quarter
BWX Technologies reported third-quarter 2024 revenue of $672.0 million, up 14%, and GAAP net income of $69.6 million, up 15%, with diluted GAAP EPS of $0.76 versus $0.66. The company raised its 2024 revenue and non-GAAP EPS guidance and announced the acquisition of A.O.T., targeted to close by year-end. Operating cash flow fell to $32.6 million from $74.3 million, which the company attributed to contract timing, and free cash flow was negative $7.7 million.
Q3 2024 revenue $672.0 million vs. $590.0 million a year earlier; diluted GAAP EPS $0.76 vs. $0.66; non-GAAP EPS $0.83 vs. $0.67
2024 non-GAAP EPS guidance raised to about $3.20 from $3.10-$3.20 range; revenue guidance raised to about $2.7 billion from more than $2.6 billion
Announced acquisition of A.O.T., a sole source provider of depleted uranium and finished specialty metals; targeted to close by year-end, with terms not stated in the filing
Operating cash flow was $32.6 million vs. $74.3 million; free cash flow was negative $7.7 million
Vulcan Materials entered a $2.0 billion, two-year delayed draw term loan with Truist Bank on November 4, 2024, to fund, among other things, its previously announced acquisition of Wake Stone Corporation. The company also extended its revolving credit facility maturity from August 8, 2027 to November 4, 2029, which keeps more of its borrowing capacity available for longer.
$2.0 billion two-year delayed draw term loan facility with Truist Bank as administrative agent, used to fund the Wake Stone Corporation acquisition
Maximum debt to EBITDA covenant of 3.50 to 1.00, with a permitted 4.00 to 1.00 for four fiscal quarters after certain material acquisitions
Revolving credit facility maturity extended from August 8, 2027 to November 4, 2029, with two one-year extension options
Net amount available under the revolving credit facility is approximately $1,504.8 million, with $95.2 million used for standby letters of credit
The Andersons reported third quarter 2024 net income attributable to the company of $27.4 million, or $0.80 per diluted share, up from $9.7 million, or $0.28, a year earlier. Sales and merchandising revenues fell to $2.62 billion from $3.64 billion, which the company attributed to lower commodity prices. Shareholders get higher profit on lower revenue, with a webcast on November 5, 2024 to discuss the outlook.
Net income attributable to the company was $27.4 million, or $0.80 per diluted share, versus $9.7 million, or $0.28, in Q3 2023.
Adjusted diluted EPS was $0.72, compared with $0.13 a year earlier; adjusted EBITDA was $97.4 million, versus $70.3 million.
Sales and merchandising revenues were $2.62 billion, down from $3.64 billion in Q3 2023.
Webcast to discuss results and outlook is set for Tuesday, November 5, 2024, at 11 a.m. Eastern Time.
Addus HomeCare reported third-quarter 2024 results on November 4, 2024, with net service revenues up 7.0% to $289.8 million and net income up to $20.2 million, or $1.10 per diluted share, from $15.4 million, or $0.95, a year earlier. The company said the Gentiva personal care acquisition is expected to close in the fourth quarter of 2024, and the release did not include updated full-year guidance.
Net service revenues rose 7.0% to $289.8 million, compared with $270.7 million in the third quarter of 2023.
Net income was $20.2 million, or $1.10 per diluted share, versus $15.4 million, or $0.95, a year earlier.
Adjusted net income per diluted share rose 13.0% to $1.30; Adjusted EBITDA rose 11.1% to $34.3 million.
Addus expects to close the Gentiva personal care acquisition in the fourth quarter of 2024.
Boise Cascade reported third quarter 2024 net income of $91.0 million, or $2.33 per diluted share, on sales of $1.7 billion, compared with $143.1 million, or $3.58 per share, on $1.8 billion a year earlier. The company said lower plywood and engineered wood prices and higher conversion costs reduced Wood Products segment income, and that Building Materials Distribution segment income also declined. For shareholders, the filing also shows a $0.21 quarterly dividend and an authorization to repurchase 1.4 million more shares.
Net income of $91.0 million ($2.33 diluted per share) versus $143.1 million ($3.58) in third quarter 2023
Sales of $1.7 billion, down 7%; Wood Products segment income fell 46% to $53.9 million
Board declared a $0.21 per share quarterly dividend payable December 18, 2024, and authorized 1.4 million additional shares for repurchase on October 30, 2024
Expected capital expenditures of $220 million to $240 million in 2024 and $200 million to $220 million in 2025
Primoris reported third-quarter 2024 revenue of $1,649.1 million, up 7.8% from a year earlier, with net income of $58.4 million, or $1.07 per diluted share, compared with $0.89 a year earlier. The company raised its 2024 EPS guidance and increased its quarterly cash dividend to $0.08 per share from $0.06, which matters to shareholders because it reflects higher expected earnings and greater cash returned to holders.
Third-quarter revenue of $1,649.1 million, up $119.6 million, or 7.8%, with Energy and Utilities segments both growing
Diluted EPS of $1.07 versus $0.89 a year earlier; adjusted diluted EPS of $1.22 versus $1.02
2024 EPS guidance raised to $2.85 to $3.00, and adjusted EPS guidance raised to $3.40 to $3.55 per diluted share
Quarterly dividend raised to $0.08 per share from $0.06, declared October 30, 2024, payable on or about January 15, 2025 to holders of record as of December 31, 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
Fabrinet reported fiscal first-quarter 2025 results for the quarter ended September 27, 2024, with revenue of $804.2 million, up from $685.5 million a year earlier, and GAAP diluted earnings per share of $2.13, up from $1.78. The company also guided second-quarter revenue to $800 million to $820 million and GAAP diluted EPS to $2.20 to $2.28.
Revenue was $804.2 million, compared with $685.5 million in the prior-year quarter, and was above the company's guidance range.
GAAP net income was $77.4 million, compared with $65.1 million; GAAP diluted EPS was $2.13, compared with $1.78.
Non-GAAP diluted EPS was $2.39, compared with $2.00 a year earlier.
Second-quarter guidance for the quarter ending December 27, 2024: revenue of $800 million to $820 million and GAAP diluted EPS of $2.20 to $2.28.
NETSTREIT reported third quarter 2024 results with AFFO per diluted share of $0.32, up from $0.31 a year earlier, and a net loss of $0.07 per diluted share, compared with net income of $0.06 a year earlier. The company maintained the midpoint of its 2024 AFFO per share guidance and narrowed the range to $1.26 to $1.27, while the quarter's net loss reflected $9.8 million in impairment provisions.
Total revenues were $41.4 million for the quarter, versus $34.0 million a year earlier; provisions for impairment were $9.8 million, versus $1.5 million.
Investments totaled $151.6 million at a 7.5% blended cash yield, which the company described as its highest quarterly investment activity in its history.
2024 AFFO per share guidance range updated to $1.26 to $1.27 from $1.25 to $1.28, with the midpoint maintained.
Quarterly dividend of $0.21 per share declared October 18, 2024, payable December 13, 2024, an annualized increase of $0.02 per share.
Horace Mann Educators reported third-quarter 2024 results, with net income of $34.3 million, or $0.83 per diluted share, up from $11.7 million a year earlier. Total revenues rose 8.8% to $412.1 million, and the company reaffirmed its full-year 2024 core EPS guidance of $2.40 to $2.70.
Q3 2024 core earnings were $31.3 million, or $0.76 per diluted share, versus $18.3 million, or $0.44, in Q3 2023.
Total revenues were $412.1 million, up 8.8% from $378.7 million.
Property & Casualty combined ratio was 97.9%, including 18 points of catastrophe losses and 7 points of favorable prior years' reserve development.
Full-year 2024 core EPS guidance of $2.40 to $2.70 was maintained, and results were released alongside a November 5, 2024 webcast.
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
QuinStreet reported fiscal first-quarter revenue of $279.2 million, up 125% from a year earlier, and a GAAP net loss of $1.4 million, or $(0.02) per diluted share, compared with a $10.6 million loss a year earlier. The company raised its full fiscal 2025 revenue and adjusted EBITDA outlook, though it said it is still early in the year.
Revenue of $279.2 million, up 125% year over year; Financial Services revenue was $210.9 million and Home Services revenue was $65.1 million
GAAP net loss of $1.4 million, or $(0.02) per diluted share, versus a net loss of $10.6 million a year earlier; adjusted EBITDA was $20.3 million versus $984 thousand
Fiscal second-quarter outlook: revenue of $235 million to $245 million and adjusted EBITDA of $17.5 million to $18.5 million
Full fiscal 2025 outlook raised: revenue of $975 million to $1.025 billion and adjusted EBITDA of $75 million to $80 million
Silicon Labs reported third-quarter 2024 revenue of $166 million, down from $203.8 million a year earlier, and a GAAP diluted loss of $(0.88) per share compared with diluted earnings of $0.32 a year earlier. The company guided fourth-quarter revenue to $161 million to $171 million and a GAAP diluted loss per share of $(0.75) to $(1.05), so the year-over-year decline and losses are expected to continue into the next quarter.
Q3 revenue was $166 million, versus $203.8 million in the third quarter of 2023; the company cited sequential growth in Industrial & Commercial and Home & Life revenue.
GAAP operating loss was $30 million and non-GAAP operating loss was $8 million; non-GAAP diluted loss per share was $(0.13).
Fourth-quarter 2024 outlook: revenue of $161 million to $171 million and GAAP diluted loss per share of $(0.75) to $(1.05).
Keysight Technologies disclosed that Mark Wallace, its Senior Vice President and Chief Customer Officer, intends to retire by the end of May 2025. The filing says he is retiring for personal reasons and not because of any disagreement with the company, and it does not name a successor.
Mark Wallace intends to retire from Keysight by the end of May 2025, announced November 4, 2024.
Wallace has served as Chief Customer Officer since September 2022.
He previously served as Senior Vice President of Worldwide Sales since November 2016.
The filing states the retirement is for personal reasons and not due to any disagreement with the company.
Construction Partners completed its acquisition of Asphalt Inc., LLC d/b/a Lone Star Paving and entered into an $850.0 million senior secured term loan to help fund it. The company also raised its fiscal 2025 guidance for revenue, net income, Adjusted EBITDA and Adjusted EBITDA Margin, citing a expected contribution from Lone Star. The filing does not give the prior guidance figures, so the size of the increase cannot be measured from this document.
Acquisition of Lone Star Paving closed; the press release is dated November 4, 2024, and the term loan is effective November 1, 2024.
$850.0 million senior secured first lien term loan, fully drawn, matures November 1, 2031, bears interest at Term SOFR plus 2.50%.
Raised fiscal 2025 outlook: revenue $2.48 billion to $2.58 billion; net income $97 million to $113 million; Adjusted EBITDA $347 million to $377 million.
On October 30, 2024, the existing credit agreement was amended, setting a maximum consolidated net leverage ratio of 4.50 to 1.00 for quarters through September 30, 2025.
Glaukos reported third-quarter 2024 net sales of $96.7 million, up 24% from a year earlier, and narrowed its net loss to $21.4 million from $30.4 million. The company raised its full-year 2024 net sales guidance to $377 million to $379 million from $370 million to $376 million, which is a positive signal for shareholders on revenue trend, though the company still reported a GAAP net loss.
Q3 2024 net sales of $96.7 million, up 24% year over year; glaucoma sales $76.0 million, up 30%
Q3 2024 net loss of $21.4 million, or $0.39 per diluted share, versus $30.4 million, or $0.63, in Q3 2023
2024 net sales guidance raised to $377 million to $379 million from $370 million to $376 million
Cash, short-term investments and restricted cash of $267.2 million as of September 30, 2024
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
Bright Horizons Family Solutions reported third-quarter 2024 revenue of $719 million, up 11%, and diluted earnings per share of $0.94, up 36% from $0.69. The company also gave updated 2024 guidance of about $2.675 billion in revenue and diluted adjusted EPS of $3.37 to $3.42, which shareholders can compare with the company's prior outlook once it is available.
Q3 2024 income from operations was $89.4 million, up 34%; net income was $54.9 million, up 37%.
Adjusted EBITDA was $121.0 million, up 20%; diluted adjusted EPS was $1.11, up 26% from $0.88.
Back-Up Care revenue grew 18% and Full Service revenue grew 9%, per the CEO.
2024 outlook: revenue of about $2.675 billion and diluted adjusted EPS of $3.37 to $3.42.
Palomar Holdings reported third quarter 2024 net income of $30.5 million, or $1.15 per diluted share, up from $18.4 million, or $0.73, a year earlier. Gross written premiums rose 32.2% to $415.0 million, and the company expects full-year 2024 adjusted net income of $124 million to $128 million, which includes about $8 million of Hurricane Milton losses expected in the fourth quarter.
Q3 2024 net income $30.5 million ($1.15 per diluted share) vs. $18.4 million ($0.73) in Q3 2023
Q3 2024 adjusted net income $32.4 million ($1.23 per diluted share), up 39.3% from $23.3 million
Q3 2024 catastrophe losses of $12.9 million from Hurricanes Beryl, Debby, and Helene; combined ratio 80.5% vs. 75.8%
Full-year 2024 adjusted net income outlook of $124 million to $128 million
Arch Reinsurance Ltd., a subsidiary of Arch Capital Group, amended its letter of credit facility with Lloyds Bank Corporate Markets on October 30, 2024. The facility size rose by $170 million to $700 million, and the full $700 million face amount had been issued under it as of October 31, 2024. The filing describes a financing arrangement for the insurance subsidiary and does not report a change in the parent company's earnings or guidance.
Facility size increased by $170 million, from $530 million to $700 million
Amendment No. 4 dated October 30, 2024, with Lloyds Bank Corporate Markets plc as Administrative Agent and L/C Agent
$700 million face amount of letters of credit had been issued under the facility as of October 31, 2024
Parts of the agreement and certain schedules were omitted under Regulation S-K Item 601(b)(10)
Astera Labs reported record third-quarter fiscal 2024 revenue of $113.1 million, up 47% from the prior quarter and up 206% from a year earlier, in an 8-K furnished November 4, 2024. The company posted a GAAP net loss of $7.6 million, or $0.05 per share, and non-GAAP diluted earnings of $0.23 per share, and it gave fourth-quarter revenue guidance of $126 million to $130 million.
Q3 revenue of $113.1 million, up from $76.9 million in Q2 2024 and $36.9 million in Q3 2023
GAAP operating loss narrowed to $8.9 million from $24.3 million in the prior quarter; GAAP net loss was $7.6 million
Non-GAAP diluted EPS of $0.23, compared with $0.13 in Q2 2024
Q4 2024 outlook: revenue of $126 million to $130 million and GAAP gross margin of approximately 75%
Erie Indemnity entered into a First Amendment on November 1, 2024 to its October 2021 credit agreement with PNC Bank, which provides up to $100 million in revolving credit. The amendment extends the facility to November 1, 2029, raises the permitted guarantee limit from $50 million to $100 million, and raises the judgment default threshold from $50 million to $100 million. The filing does not report any drawn amount, and the changes affect the terms under which the company can borrow.
Revolving credit facility of up to $100 million, including up to $25 million for letters of credit, with PNC Bank as administrative agent
Facility term extended to November 1, 2029
Permitted guarantees increased from $50 million to $100 million; judgment default threshold raised from $50 million to $100 million
Based on current leverage, pricing is SOFR plus a 0.5% margin or the Base Rate, with a 0.08% quarterly commitment fee on unused amounts
BJ's Wholesale Club and subsidiaries signed a Fifth Amendment to their First Lien Term Loan Credit Agreement on November 4, 2024. The amendment provides a new $400 million tranche of term loans that refinances the existing Tranche B Term Loans, and lowers the applicable interest margin from SOFR plus 2.00% to SOFR plus 1.75%. The change alters the company's borrowing terms and interest cost, but the filing does not state a figure for expected savings.
Fifth Amendment dated November 4, 2024, with Nomura Corporate Funding Americas, LLC as administrative and collateral agent
New $400 million 2024 Term Loans refinance and replace the existing Tranche B Term Loans in full
Applicable margin reduced from SOFR plus 2.00% to SOFR plus 1.75% per annum upon effectiveness
Century Aluminum reported third quarter 2024 results on November 4, 2024. Net income attributable to Century stockholders rose to $47.3 million from a $2.5 million loss in the second quarter, helped by $34.9 million of Inflation Reduction Act credits, while net sales fell to $539.1 million. The company expects fourth quarter adjusted EBITDA of $70 million to $80 million, below the $103.7 million reported for the third quarter, and Theresa Brainerd assumed the principal accounting officer role.
Net sales were $539.1 million, down from $560.8 million in the second quarter of 2024.
Net income attributable to Century stockholders was $47.3 million, compared with a loss of $2.5 million in the prior quarter.
Fourth quarter 2024 adjusted EBITDA is expected to range from $70 million to $80 million, versus $103.7 million in the third quarter.
Rob Hoffman stepped down as principal accounting officer and remains Chief Information Officer; Theresa Brainerd, Global Corporate Controller, assumed the role.
MGIC Investment Corporation reported third quarter 2024 net income of $200.0 million, or $0.77 per diluted share, up from $0.64 a year earlier and equal to the prior quarter's $0.77. The company also said it agreed on terms for a 40% quota share reinsurance transaction covering most of its 2025 and 2026 new insurance written, and it will terminate its 2021 quota share transaction effective December 31, 2024, with expected termination fees of about $8 million.
Q3 2024 net income was $200.0 million, or $0.77 per diluted share, versus $0.64 in Q3 2023 and $204.2 million, or $0.77 per share, in Q2 2024.
Net premiums earned were $243.3 million, compared with $241.3 million in Q3 2023. Annualized return on equity was 15.6%, versus 15.1% a year earlier.
Agreed on terms for a 40% quota share reinsurance transaction with unaffiliated reinsurers covering most 2025 and 2026 new insurance written.
Repurchased 5.2 million shares for $122.9 million in Q3 2024 and declared a $0.13 per share dividend payable November 21, 2024.
Ichor Holdings reported third quarter 2024 revenue of $211.1 million, up from $203.2 million in the second quarter and $196.8 million a year earlier, and above the guidance range it gave in August. The GAAP net loss narrowed to $2.8 million, or $(0.08) per diluted share, from $5.1 million in the prior quarter and $10.4 million a year earlier. The company guided fourth quarter 2024 revenue to $220 million to $235 million.
Q3 2024 revenue was $211.1 million, compared with $203.2 million in Q2 2024 and $196.8 million in Q3 2023.
GAAP net loss was $2.8 million, or $(0.08) per diluted share; non-GAAP diluted EPS was $0.12.
Q4 2024 outlook: revenue of $220 million to $235 million and GAAP diluted EPS of $0.01 to $0.13.
Free cash flow was $2.2 million in Q3 2024, the sixth consecutive quarter of positive free cash flow.
Lattice Semiconductor reported third-quarter 2024 revenue of $127.1 million, up 2.4% from the prior quarter but down 33.9% from a year earlier, with GAAP net income of $0.05 per diluted share. The company guided fourth-quarter 2024 revenue to $112 million to $122 million, and it took a one-time GAAP-only charge of $6.5 million tied to a 14% workforce reduction and a 14% cut in non-headcount operating expenses.
Q3 2024 revenue was $127.1 million, up 2.4% from Q2 2024 and down 33.9% from Q3 2023's $192.2 million.
GAAP net income was $0.05 per diluted share, versus $0.16 in Q2 2024 and $0.38 in Q3 2023; non-GAAP net income was $0.24 per diluted share.
Fourth-quarter 2024 guidance: revenue of $112 million to $122 million and non-GAAP net income of $0.15 to $0.23 per share.
Ford Tamer was appointed Chief Executive Officer and joined the Board; the company is also recording a $6.5 million one-time GAAP-only charge tied to a 14% workforce reduction.
Sensata reported third-quarter 2024 revenue of $982.8 million, down 1.8% from a year earlier, and a GAAP operating loss of $199.2 million that includes a $150.1 million goodwill impairment tied to Dynapower and about $141 million in restructuring and other charges. Adjusted EPS fell 5.5% to $0.86, and the company guided fourth-quarter revenue to $870 million to $900 million and adjusted EPS to $0.71 to $0.76, both below third-quarter levels.
Revenue was $982.8 million, down $18.5 million or 1.8% from $1,001.3 million in Q3 2023.
GAAP loss per share was $0.17, compared with EPS of $0.41 in Q3 2023; the result includes a $258 million tax benefit from a valuation allowance release.
Adjusted EPS was $0.86, down $0.05 or 5.5% from $0.91.
Q4 2024 guidance: revenue of $870 million to $900 million and adjusted EPS of $0.71 to $0.76, versus Q3 revenue of $982.8 million and adjusted EPS of $0.86.
Wynn Resorts reported third-quarter 2024 operating revenues of $1.69 billion, up $21.4 million from a year earlier, and a net loss attributable to the company of $32.1 million, versus $116.7 million a year earlier. Adjusted Property EBITDAR was $527.7 million, down $2.7 million, and the Board raised the share repurchase authorization to $1.00 billion while declaring a $0.25 quarterly dividend.
Operating revenues were $1.69 billion, up $21.4 million from $1.67 billion in Q3 2023; Wynn Macau rose $56.9 million.
Diluted net loss per share was $0.29, compared with $1.03 in Q3 2023. Adjusted net income per diluted share was $0.90, versus $0.99.
Adjusted Property EBITDAR was $527.7 million, compared with $530.4 million a year earlier, with Las Vegas Operations down $17.0 million.
On November 1, 2024, the Board authorized repurchases of up to $1.00 billion, an increase of approximately $766 million; the $0.25 dividend is payable November 27, 2024 to holders of record on November 15, 2024.
Inspire Medical Systems reported third-quarter 2024 revenue of $203.2 million, up 33% from $153.3 million a year earlier, and diluted earnings per share of $0.60 compared with a loss of $0.29 per share in the prior-year quarter. The company raised its full-year 2024 revenue guidance to $793 million to $798 million from $788 million to $798 million, and raised its full-year diluted EPS guidance to $1.20 to $1.40 from $0.60 to $0.80.
Q3 2024 revenue $203.2 million, up 33% year over year; U.S. revenue $195.8 million
Q3 2024 net income $18.5 million; diluted EPS $0.60 versus a diluted net loss of $0.29 per share in Q3 2023
Full-year 2024 revenue guidance raised to $793 million to $798 million; EPS guidance raised to $1.20 to $1.40
Full-year 2024 gross margin guidance maintained at 83% to 85%
Cirrus Logic reported fiscal second-quarter 2025 revenue of $541.9 million, up 13% from a year earlier, with GAAP diluted earnings per share of $1.83 versus $1.34 a year earlier. The company guided third-quarter revenue to $480 million to $540 million, which is down six percent sequentially and down 18 percent year over year at the midpoint, so shareholders face a weaker near-term sales outlook after a strong quarter.
Q2 FY25 revenue was $541.9 million, up 45% from Q1 FY25 and up 13% from Q2 FY24
GAAP diluted EPS was $1.83 and non-GAAP diluted EPS was $2.25, compared with $1.34 and $1.80 in Q2 FY24
Q3 FY25 revenue guidance is $480 million to $540 million, and GAAP gross margin is forecast at 51% to 53%
One customer contributed approximately 90% of total revenue in Q2 FY25
Alpha and Omega Semiconductor reported fiscal first-quarter 2025 revenue of $181.9 million, up 12.8% from the prior quarter but up only 0.7% from a year earlier, with a GAAP net loss of $2.5 million. For the fiscal second quarter ending December 31, 2024, the company expects revenue of approximately $170 million, plus or minus $10 million, which is below the current quarter and points to a sequential decline.
Q1 revenue was $181.9 million, up 12.8% from the prior quarter and 0.7% from the same quarter last year.
GAAP net loss was $2.5 million, or $0.09 per diluted share, compared with net income of $5.8 million a year earlier.
Non-GAAP diluted EPS was $0.21, compared with $0.33 in the same quarter last year.
Q2 guidance calls for revenue of about $170 million, plus or minus $10 million, and GAAP gross margin of 24%, plus or minus 1%.
NAPCO Security Technologies reported results for the three months ended September 30, 2024, its first quarter of fiscal 2025. Net sales rose 6% to $44.0 million and net income rose 7% to $11.2 million, or $0.30 per diluted share, while Adjusted EBITDA fell 4% to $12.3 million. The Board also declared a $0.125 per share quarterly dividend and authorized repurchases of up to 1,000,000 additional shares.
Net sales rose 6% to $44.0 million; recurring service revenues rose 22% to $21.1 million
Net income rose 7% to $11.2 million; diluted EPS was $0.30 versus $0.28 a year earlier
Adjusted EBITDA fell 4% to $12.3 million; equipment gross margin was 24% versus 28% a year earlier
Dividend of $0.125 per share payable January 3, 2025, to holders of record December 12, 2024; cash and investments were $102.2 million with no debt
Public Service Enterprise Group reported third-quarter 2024 net income of $520 million, or $1.04 per share, up from $139 million, or $0.27 per share, a year earlier. Non-GAAP operating earnings were $0.90 per share, compared with $0.85 in the prior-year quarter, and the company narrowed its full-year 2024 non-GAAP operating earnings guidance to $3.64 to $3.68 per share from $3.60 to $3.70.
Net income of $520 million ($1.04 per share) for the quarter, versus $139 million ($0.27 per share) in Q3 2023
Non-GAAP operating earnings of $448 million ($0.90 per share), versus $425 million ($0.85 per share)
Full-year 2024 non-GAAP operating earnings guidance narrowed to $3.64 to $3.68 per share from $3.60 to $3.70
New Jersey Board of Public Utilities approved an additional $505 million in annual PSE&G revenues, effective October 15
Franklin Resources reported preliminary fourth-quarter fiscal 2024 results, showing a net loss of $84.7 million, or $0.19 per diluted share, compared with net income of $295.5 million, or $0.58 per share, a year earlier. The loss reflects a $389.2 million impairment of an indefinite-lived intangible asset tied to certain mutual fund contracts managed by Western Asset Management, even as operating revenues rose 11% to $2.21 billion.
Q4 net loss of $84.7 million, or $0.19 per diluted share, versus net income of $295.5 million, or $0.58 per share, a year earlier
Impairment of $389.2 million on an intangible asset related to mutual fund contracts managed by Western Asset Management
Operating revenues of $2.21 billion, up 11% from the prior-year quarter
Adjusted diluted EPS of $0.59 for the quarter, versus $0.84 a year earlier (non-GAAP)
Krystal Biotech reported third-quarter 2024 net product revenue of $83.8 million, up from $8.6 million a year earlier, driven by VYJUVEK sales. Net income fell to $27.2 million, or $0.91 per diluted share, from $80.7 million, or $2.79 per diluted share, a year earlier; that period included a $100 million gain on the sale of a priority review voucher, and this quarter included a $12.5 million litigation settlement charge. The company also set full-year 2024 non-GAAP R&D and SG&A expense guidance of $115 million to $125 million.
Q3 2024 net product revenue was $83.8 million versus $8.6 million in Q3 2023; gross margin for VYJUVEK was 92% for the quarter.
Q3 2024 net income was $27.2 million, or $0.91 per diluted share, compared with $80.7 million, or $2.79 per diluted share, in Q3 2023.
Q3 2024 included a $12.5 million litigation settlement expense and $100 million gain from a priority review voucher sale was recorded in Q3 2023.
Cash, cash equivalents and investments totaled $694.2 million as of September 30, 2024; full-year 2024 non-GAAP R&D and SG&A guidance is $115 million to $125 million.
Fox Corporation reported results for the quarter ended September 30, 2024, with revenues up 11% to $3.56 billion and net income of $832 million, up from $415 million a year earlier. The filing says net income includes a gain from the change in fair value of the company's investments, and adjusted EPS, a non-GAAP measure, rose to $1.45 from $1.09. The filing does not include guidance.
Revenues of $3.56 billion, up $357 million or 11%, driven by higher advertising, affiliate fee and other revenues
Net income attributable to Fox stockholders of $827 million ($1.78 per share) vs. $407 million ($0.82) a year earlier; adjusted EPS of $1.45 vs. $1.09
Adjusted EBITDA of $1.05 billion, up $179 million or 21%; non-operating other, net contributed $233 million
Repurchased about $250 million of Class A stock in the quarter, with $1.15 billion remaining under the authorization
Knife River reported third quarter 2024 revenue of $1.1 billion, up 1% from a year earlier, and net income of $148.1 million, also up 1%. Adjusted EBITDA fell 1% to $245.2 million, and the company narrowed its full-year 2024 revenue and adjusted EBITDA guidance. Shareholders get higher top-line and earnings figures for the quarter, but adjusted EBITDA slipped and the company has spent $129.3 million on six acquisitions since the start of the fourth quarter.
Q3 2024 revenue $1,105.3 million vs. $1,090.4 million; net income $148.1 million vs. $146.7 million
Diluted EPS $2.60 vs. $2.58 a year earlier; adjusted EBITDA $245.2 million vs. $247.5 million
Full-year 2024 guidance: revenue $2.85 billion to $2.95 billion; adjusted EBITDA $445 million to $465 million
Through Nov. 2, 2024, the company deployed $129.3 million on six acquisitions, including Albina Asphalt purchased Nov. 2
Marriott reported third quarter 2024 results with reported diluted EPS of $2.07, down from $2.51 a year earlier, and reported net income of $584 million, down from $752 million. Adjusted diluted EPS rose to $2.26 from $2.11, and worldwide RevPAR increased 3.0 percent, so shareholders see a mixed picture depending on which measure they follow. The company also set full-year 2024 adjusted diluted EPS guidance of $9.19 to $9.27 and expects to return about $4.4 billion to shareholders in 2024.
Reported diluted EPS $2.07 vs. $2.51 a year earlier; reported net income $584 million vs. $752 million
Adjusted diluted EPS $2.26 vs. $2.11; adjusted net income $638 million vs. $634 million; adjusted EBITDA $1,229 million vs. $1,142 million
Full-year 2024 adjusted diluted EPS outlook $9.19 to $9.27; fourth-quarter outlook $2.31 to $2.39
Initiative expected to yield $80 million to $90 million of annual G&A cost reductions beginning in 2025
TG Therapeutics reported third quarter 2024 results and raised its full-year 2024 U.S. BRIUMVI net product revenue target to $300 million to $305 million, up from $290 million to $300 million. Product sales are growing quickly, but total revenue and net income fell sharply from the prior-year period, which included a large license payment.
Q3 2024 U.S. BRIUMVI net product revenue was $83.3 million, about 15% above the prior quarter and over 230% above Q3 2023.
Full-year 2024 U.S. BRIUMVI net revenue target raised to $300 million to $305 million from $290 million to $300 million.
Q3 2024 net income was $3.9 million, compared with $113.9 million in Q3 2023, which included license revenue of $140.7 million.
Cash, cash equivalents and investment securities were $341.0 million as of September 30, 2024.
DigitalOcean reported third quarter 2024 revenue of $198 million, up 12% year-over-year, and net income of $33 million, up 72%, and raised its full-year 2024 revenue guidance to $775 million to $777 million. Adjusted free cash flow fell to $26 million from $56 million a year earlier, and the filing also disclosed the October 30, 2024 resignation of Chief Revenue Officer Muhammad Aaqib Gadit, with a deferred payment of about $7.3 million to him.
Q3 2024 revenue was $198 million, up 12% year-over-year; diluted net income per share was $0.33
Full-year 2024 total revenue guidance raised to $775 million to $777 million
Q4 2024 revenue guidance set at $199 million to $201 million
Adjusted free cash flow was $26 million in Q3 2024, versus $56 million in Q3 2023; Chief Revenue Officer Muhammad Aaqib Gadit resigned October 30, 2024
The New York Times Company reported third-quarter 2024 results with total revenues up 7.0% year-over-year to $640.2 million and diluted earnings per share of $0.39, compared with $0.32 a year earlier. The company also issued fourth-quarter 2024 revenue and adjusted operating cost guidance, which shareholders can compare with future results.
Total revenues rose 7.0% to $640.2 million; digital-only subscription revenues rose 14.2% to $322.2 million.
Diluted EPS was $0.39 versus $0.32; adjusted diluted EPS was $0.45 versus $0.37.
Operating profit rose 20.7% to $76.7 million, including $4.6 million of Generative AI Litigation Costs.
Fourth-quarter 2024 guidance: digital-only subscription revenues up 14% to 17%; adjusted operating costs up 5% to 6%.
Freshpet reported third-quarter 2024 net sales of $253.4 million, up 26.3% from a year earlier, and net income of $11.9 million, compared with a net loss of $7.2 million in the prior-year quarter. The company raised its 2024 net sales and Adjusted EBITDA guidance, which signals higher expected full-year results for shareholders.
Q3 net sales of $253.4 million, up 26.3%, driven by volume gains of 26.1%
Q3 net income of $11.9 million, compared with a net loss of $7.2 million a year earlier
Q3 Adjusted EBITDA of $43.5 million, compared with $23.2 million a year earlier
2024 guidance: net sales of about $975 million (previously at least $965 million); Adjusted EBITDA of at least $155 million (previously at least $140 million); capital expenditures of about $180 million (previously about $200 million)
Loews Corporation reported third quarter 2024 net income of $401 million, or $1.82 per share, up from $253 million, or $1.12 per share, a year earlier. Excluding a $37 million pension plan termination charge in the prior-year quarter, net income grew 38%, driven by CNA, Boardwalk and parent company investment income, partly offset by a lower result at Loews Hotels.
Net income attributable to Loews was $401 million, or $1.82 per share, versus $253 million, or $1.12 per share, in Q3 2023.
CNA net income rose to $259 million from $235 million; Boardwalk net income rose 57% to $77 million from $49 million.
Loews Hotels posted a net loss of $8 million versus net income of $17 million, due to a joint venture property impairment.
Loews repurchased 0.8 million shares for $64 million in Q3 2024 and another 1.2 million shares for $92 million so far in Q4 2024.
Revvity reported third-quarter 2024 revenue of $684 million, up 2% from $671 million a year earlier, and adjusted EPS from continuing operations of $1.28, up from $1.18. The company raised its full-year 2024 adjusted EPS guidance to $4.83 to $4.87 and authorized a new two-year $1 billion share repurchase program.
Q3 2024 revenue of $684 million vs. $671 million a year earlier; GAAP EPS of $0.77 vs. $0.08
Q3 adjusted EPS from continuing operations of $1.28 vs. $1.18; adjusted operating profit margin of 28.3% vs. 27.5%
Full-year 2024 adjusted EPS guidance raised to $4.83 to $4.87; revenue guidance set at $2.75 to $2.77 billion, reflecting currency changes
New two-year $1 billion share repurchase program replaces the remainder of the program announced in May 2023; Investor Day on November 21, 2024
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