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).
EPAM reported third-quarter 2024 revenue of $1.168 billion, up 1.3% year over year, and GAAP diluted EPS of $2.37, up 43.6%. The company raised its full-year GAAP and non-GAAP diluted EPS ranges, but it said the quarter included a $52.0 million benefit from Polish R&D incentives, and organic constant currency revenue fell 0.3%.
Q3 revenue $1.168 billion, up 1.3% year over year; organic constant currency revenue down 0.3%
GAAP diluted EPS $2.37, up from $1.65; non-GAAP diluted EPS $3.12, up 14.3% from $2.73
Q3 included a $52.0 million Poland R&D incentive benefit, of which $22.9 million related to 2023 activities
Full-year GAAP diluted EPS now $7.78 to $7.86; Q4 revenue expected $1.205 billion to $1.215 billion
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.
LifeStance Health Group reported third-quarter 2024 revenue of $312.7 million, up 19% from a year earlier, and a net loss of $6.0 million, down from $61.6 million. The company raised its full-year 2024 revenue, Center Margin and Adjusted EBITDA expectations, which gives shareholders a higher outlook than before the report.
Q3 2024 revenue was $312.7 million, up 19%; Adjusted EBITDA was $30.7 million, up 110%
Net loss narrowed to $6.0 million from $61.6 million in Q3 2023
Full-year 2024 revenue guidance raised to $1.228 billion to $1.248 billion; Adjusted EBITDA guidance raised to $105 million to $115 million
Company continues to expect positive Free Cash Flow for full-year 2024
Carlyle reported unaudited third-quarter 2024 results, with U.S. GAAP net income attributable to common stockholders of $596 million, compared with $81 million a year earlier. Fee Related Earnings rose 36% to $278 million, and the board declared a $0.35 quarterly dividend, payable November 25, 2024, to holders of record on November 18, 2024.
Net income attributable to common stockholders was $596 million, or $1.63 per diluted share, for Q3 2024, versus $81 million, or $0.22 per diluted share, in Q3 2023
Total revenues were $2.64 billion in Q3 2024, compared with $717 million in Q3 2023
Distributable Earnings were $367 million, or $0.95 per common share, and Fee Related Earnings were $278 million, up 36% from $205 million
Quarterly dividend of $0.35 per common share; $0.9 billion of repurchase capacity remained as of September 30, 2024
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
Chord Energy reported third-quarter 2024 net income of $225.3 million, up from $209.1 million a year earlier, on total revenues of $1.45 billion. The company raised its full-year 2024 oil volume guidance, lowered its capital guidance by $10 million, and authorized a new $750 million share repurchase program, which matters to shareholders because it signals more cash returned to them, though diluted EPS of $3.59 was below $4.77 a year earlier.
Net income was $225.3 million ($3.59 diluted per share), versus $209.1 million ($4.77 diluted per share) in third quarter 2023.
Total revenues were $1.45 billion, up from $1.12 billion a year earlier; adjusted EBITDA was $674.5 million.
FY24 pro forma oil volume midpoint raised 0.6 MBopd to 152.7 MBopd; FY24 capital guidance cut $10 million to $1.48 billion.
Company repurchased $146.0 million of stock in the quarter and declared a $1.44 per share dividend, payable December 12, 2024.
Ellington Financial reported third-quarter 2024 net income attributable to common stockholders of $16.2 million, or $0.19 per share, down from $52.3 million, or $0.62 per share, in the second quarter. Adjusted Distributable Earnings of $34.5 million, or $0.40 per share, covered its dividends, while the company's leverage rose as its credit loan portfolio grew 19%.
Net income attributable to common stockholders was $16.2 million, or $0.19 per share, versus $52.3 million, or $0.62 per share, in the quarter ended June 30, 2024.
Adjusted Distributable Earnings were $34.5 million, or $0.40 per share.
Book value per common share was $13.66 as of September 30, 2024, after dividends of $0.39 per share for the quarter.
Recourse debt-to-equity ratio rose to 1.8:1 from 1.6:1, and the company plans to redeem its Series E Preferred Stock on December 13, 2024.
RenaissanceRe reported third-quarter 2024 net income available to common shareholders of $1.17 billion, or $22.62 per diluted share, compared with $194.0 million, or $3.80, a year earlier. Operating income available to common shareholders was $540.3 million, or $10.23 per diluted share, versus $8.41 in the third quarter of 2023, and the company said Hurricane Milton is estimated to reduce fourth-quarter 2024 results by $275.0 million.
Net income available to common shareholders was $1.17 billion, or $22.62 per diluted share, versus $194.0 million, or $3.80, in Q3 2023.
Operating income available to common shareholders was $540.3 million, or $10.23 per diluted share, versus $8.41 in Q3 2023.
Q3 2024 large loss events had a net negative impact of $243.2 million on net income available to common shareholders.
Hurricane Milton is estimated to have a net negative impact of $275.0 million on fourth-quarter 2024 results; the company repurchased $106.8 million of common shares in Q3 and on November 6, 2024 raised its repurchase authorization to $750
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.
Permian Resources reported third quarter 2024 results, with net income attributable to Class A common stock of $386.4 million, up from $45.4 million a year earlier, and oil and gas sales of $1.2 billion, up from $758.5 million. The company raised its full-year 2024 production guidance midpoint for the third consecutive quarter and declared a quarterly base dividend of $0.15 per share, a 150% increase over its prior base dividend. The company also amended its credit agreement, extending the revolving maturity date to February 18, 2028.
Q3 2024 net income attributable to Class A common stock was $386.4 million, versus $45.4 million in Q3 2023; diluted EPS was $0.53, versus $0.13
Oil and gas sales were $1,215.6 million for Q3 2024, versus $758.5 million for Q3 2023
Full-year 2024 oil production midpoint raised to 158.5 MBbls/d and total production midpoint raised to 341.0 MBoe/d; no other guidance ranges changed
Quarterly base dividend of $0.15 per share payable November 22, 2024; Eighth Amendment extends the revolving maturity to February 18, 2028 with a $2.5 billion aggregate elected commitment
Xenia Hotels & Resorts reported a third-quarter net loss of $7.1 million, or $0.07 per share, narrowed from $8.5 million a year earlier, while total revenues rose to $236.8 million from $232.0 million. Adjusted EBITDAre fell 4.4% to $44.3 million, and the company lowered its full-year 2024 outlook for net income, Adjusted EBITDAre and Adjusted FFO per diluted share, citing renovation disruption, hurricanes and softer leisure demand.
Q3 2024 Adjusted EBITDAre was $44.3 million, down 4.4%; Adjusted FFO per diluted share was $0.25, down 3.8%
Full-year 2024 Adjusted EBITDAre guidance is $234 million to $242 million, a reduction of $9 million to $13 million from prior guidance
Full-year 2024 Adjusted FFO per diluted share guidance is $1.54 to $1.62, down $0.08 to $0.12 from prior guidance
Hurricanes are estimated to reduce Hotel EBITDA by approximately $2 million over the third and fourth quarters
Axcelis reported third-quarter 2024 revenue of $256.6 million and diluted earnings per share of $1.49, down from $1.99 a year earlier and $1.55 in the second quarter. The company guided fourth-quarter revenue to about $245 million and EPS to about $1.25, both below third-quarter results, and disclosed that it found an error that overstated historical backlog from 2019 through the second quarter of 2024.
Q3 2024 revenue of $256.6 million, roughly flat with $256.5 million in Q2 2024 and down from $292.3 million in Q3 2023
Q3 net income of $48.6 million, or $1.49 per diluted share, versus $65.9 million, or $1.99 per diluted share, in Q3 2023
Fourth-quarter 2024 outlook: revenue of approximately $245 million and EPS of approximately $1.25
Corrected backlog as of June 30, 2024 was $879 million, versus $994 million previously reported; backlog as of September 30, 2024 was $758 million
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
Dutch Bros reported third-quarter 2024 revenue of $338.2 million, up 27.9% from a year earlier, and net income of $21.7 million, up from $13.4 million. The company raised its 2024 revenue and adjusted EBITDA guidance, but company-operated shop gross margin fell 190 basis points to 22.2%. The filing also amended CEO Christine Barone's severance terms and set a new pay structure for Executive Chairman Travis Boersma.
Q3 2024 total revenues were $338.2 million, up 27.9% from $264.5 million; diluted EPS was $0.11 versus $0.07.
2024 total revenue guidance was raised to $1.255 billion to $1.260 billion, from $1.215 billion to $1.230 billion.
2024 adjusted EBITDA guidance was raised to $215 million to $220 million, from $200 million to $210 million.
Effective January 1, 2025, Boersma's target annual cash bonus is 10% of base salary, with a maximum of 20%; his base salary stays at $1,500,000.
TKO reported third quarter 2024 revenue of $681.2 million, up 52%, and net income of $57.7 million, up from $22.0 million a year earlier, driven mainly by WWE, which was consolidated only from September 12, 2023. The company now expects full-year 2024 revenue and Adjusted EBITDA at the upper end of its August ranges, and UFC segment revenue and Adjusted EBITDA both declined in the quarter.
Q3 2024 revenue $681.2 million, up $232.1 million; WWE revenue $326.3 million, UFC revenue $354.9 million, down 11%
Q3 2024 Adjusted EBITDA $310.0 million, up 29%; net income attributable to TKO Group Holdings was $23.1 million, or $0.29 basic EPS
Full-year 2024 revenue expected at upper end of $2.670 billion to $2.745 billion; Adjusted EBITDA at upper end of $1.220 billion to $1.240 billion
Cash and cash equivalents $457.4 million and gross debt $2.736 billion as of September 30, 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.
Veracyte reported third-quarter 2024 total revenue of $115.9 million, up 29% from a year earlier, and net income of $15.2 million, compared with a net loss of $29.6 million in the third quarter of 2023. The company raised its full-year 2024 total revenue guidance to $442 million to $445 million, from $432 million to $438 million previously.
Total revenue of $115.9 million, up 29% from $90.1 million; testing revenue of $109.5 million, up 34%
Diluted EPS of $0.19 (GAAP), compared with a loss of $0.41 per share a year earlier; non-GAAP diluted EPS of $0.33
Full-year 2024 total revenue guidance raised to $442 million to $445 million; year-end cash guidance raised to $280 million to $285 million
Third-quarter cash from operations of $30.0 million; cash and cash equivalents of $274.1 million at September 30, 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.
Tandem Diabetes Care reported third quarter 2024 GAAP sales of $244.0 million, up 31% from a year earlier, and raised its 2024 non-GAAP sales guidance to $903 million to $910 million. The net loss narrowed to $23.3 million from $33.0 million, which supports the company's revenue growth and improving loss trend for shareholders.
Q3 2024 GAAP sales were $244.0 million, up 31% from $185.6 million; non-GAAP sales were $242.9 million, up 25%.
GAAP net loss was $23.3 million, or $0.35 per share, compared with $33.0 million, or $0.51 per share, a year earlier.
Full-year 2024 non-GAAP sales guidance is now approximately $903 million to $910 million, with U.S. sales of $645 million to $650 million.
Non-GAAP gross margin guidance of about 51% and Adjusted EBITDA margin guidance of breakeven were reaffirmed.
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.
Corsair reported third-quarter 2024 net revenue of $304.2 million, down 16.2% from $363.2 million a year earlier, and a net loss attributable to common shareholders of $58.4 million, or $0.56 per diluted share, including a $32.5 million non-cash valuation allowance charge on deferred tax assets. The company lowered its full-year 2024 adjusted EBITDA outlook to $40 million to $55 million from $60 million to $75 million, while reiterating its revenue expectation of $1.25 billion to $1.35 billion.
Net revenue was $304.2 million vs. $363.2 million a year earlier; Gaming Components and Systems fell to $202.2 million from $272.8 million, while Gamer and Creator Peripherals rose to $102.0 million from $90.4 million.
Adjusted net loss was $30.3 million, or $0.29 per diluted share, vs. adjusted net income of $13.4 million, or $0.13 per diluted share, in Q3 2023.
Adjusted EBITDA was $4.8 million vs. $23.0 million in Q3 2023.
Adjusted operating income outlook for 2024 is $28 million to $43 million, down from $48 million to $63 million; adjusted EBITDA outlook is $40 million to $55 million, down from $60 million to $75 million.
Duolingo reported third-quarter 2024 revenue of $192.6 million, up 40% from a year earlier, and net income of $23.4 million, compared with $2.8 million in the prior-year quarter. The company updated its full-year 2024 outlook to revenue of $741.0 million to $744.0 million, and its shareholder letter says it is raising guidance. For shareholders, the results show strong growth and higher profitability, and the updated outlook signals management's expectations for the rest of the year.
Q3 2024 total bookings were $211.5 million, up 38%; paid subscribers reached 8.6 million, up 47%.
Net income was $23.4 million versus $2.8 million a year earlier; Adjusted EBITDA margin was 24.7% versus 16.3%.
Full-year 2024 revenue guidance is $741.0 million to $744.0 million; Q4 revenue guidance is $202.5 million to $205.5 million.
PTC reported fourth-quarter fiscal 2024 revenue of $627 million, up from $547 million a year earlier, and GAAP diluted earnings per share of $1.04 versus $0.38. For fiscal 2025 it guided to revenue of $2.505 billion to $2.605 billion and GAAP EPS of $3.68 to $4.57. Its board also authorized repurchases of up to $2 billion of common stock through September 30, 2027, with about $300 million expected in fiscal 2025.
Q4 fiscal 2024 revenue $627 million, up 15% year over year; GAAP diluted EPS $1.04 versus $0.38
FY2025 guidance: revenue $2.505 billion to $2.605 billion; free cash flow $835 million to $850 million
Board authorized up to $2 billion of share repurchases for October 1, 2024 through September 30, 2027
About $300 million of stock repurchases expected in fiscal 2025, starting in Q1
Schneider National reported third-quarter 2024 operating revenues of $1,315.7 million, down from $1,352.0 million a year earlier, and diluted earnings per share of $0.17 versus $0.20. The company lowered its full-year 2024 adjusted diluted earnings per share guidance to $0.66-$0.72 from $0.80-$0.90, citing shifted expectations for the timing of a freight market recovery. For shareholders, the filing shows lower earnings and a reduced profit outlook for the year.
Q3 2024 operating revenues were $1,315.7 million, compared with $1,352.0 million in Q3 2023.
Q3 2024 income from operations was $43.1 million, down 8% from $46.7 million; diluted EPS was $0.17 versus $0.20.
Full-year 2024 adjusted diluted EPS guidance was cut to $0.66-$0.72 from $0.80-$0.90.
Net capital expenditures guidance was updated to approximately $330.0 million, within the prior range of $300.0-$350.0 million.
DXC Technology said its Executive Vice President and Chief Operating Officer, James Brady, will leave the company effective November 29, 2024. His separation payment follows terms previously disclosed in the company's 2024 proxy statement, conditioned on a separation agreement and release.
James Brady, EVP and Chief Operating Officer, exits effective November 29, 2024
Separation payment is tied to a separation agreement and release
Payment terms follow the non-change of control executive officer severance disclosed in the 2024 proxy statement
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
Charles River reported third-quarter 2024 revenue of $1.01 billion, down 1.6% from a year earlier, with GAAP diluted EPS of $1.33, down 21.3%, and non-GAAP diluted EPS of $2.59, down 4.8%. The company raised its 2024 non-GAAP EPS guidance to $10.10-$10.30 from $9.90-$10.20 but cut its GAAP EPS guidance to $5.30-$5.50 from $5.65-$5.95, citing higher restructuring charges.
Q3 revenue $1.01 billion vs. $1.03 billion in Q3 2023; organic revenue declined 2.7%
GAAP diluted EPS $1.33 vs. $1.69; non-GAAP diluted EPS $2.59 vs. $2.72
2024 non-GAAP EPS guidance raised to $10.10-$10.30; GAAP EPS guidance cut to $5.30-$5.50
Board approved a $1.0 billion buyback on August 2, 2024; $899.3 million remained as of September 28, 2024
Vishay reported fiscal third quarter 2024 results on November 6, 2024. Revenue fell from the prior quarter and year-earlier levels, and the company posted a GAAP loss of $0.14 per share after $40.6 million in restructuring and severance costs, with adjusted EPS of $0.08. For the fourth quarter, management expects revenue of $720 million, plus or minus $20 million, which is below the third-quarter level.
Q3 2024 revenue was $735.4 million, down from $741.2 million in Q2 2024 and $853.7 million in Q3 2023.
GAAP loss per share was $0.14, compared with GAAP earnings of $0.47 per share a year earlier; adjusted EPS was $0.08 versus $0.60.
Restructuring and severance costs totaled $40.6 million in the quarter, and gross margin fell to 20.5% from 27.8% a year earlier.
Q4 2024 outlook calls for revenue of $720 million, plus or minus $20 million, and gross margin of 20.0%, plus or minus 50 basis points.
Howmet Aerospace reported third quarter 2024 revenue of $1.84 billion, up 11% year over year, and net income of $332 million, or $0.81 per share, versus $188 million, or $0.45 per share, a year earlier. The company raised its full year 2024 guidance for Adjusted EBITDA and adjusted earnings per share, and said it expects 2025 revenue to rise approximately 7.5%.
Q3 2024 adjusted earnings per share excluding special items were $0.71, up 54% year over year
Quarterly common stock dividend raised 60% to $0.08 per share; company expects a further 25% increase to $0.10 in Q1 2025, subject to Board approval
Repurchased $100 million of common stock in Q3 2024 and another $90 million in October 2024, bringing October year-to-date repurchases to $400 million
Redeemed $577 million of 6.875% notes due May 2025 after issuing $500 million of notes due 2031
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.
Macerich said Daniel E. Swanstrom II will become Senior Executive Vice President, Chief Financial Officer and Treasurer effective November 16, 2024, replacing Scott Kingsmore, who will move to Senior Advisor and leave the company on December 31, 2024. The filing describes Swanstrom's real estate finance background and sets out his compensation, including a $600,000 base salary and a $1,500,000 sign-on equity grant.
Daniel E. Swanstrom II, 47, was previously Founder and Managing Member of DES Partners, LLC and CFO of CorePoint Lodging Inc.
Scott W. Kingsmore departs December 31, 2024, and will receive a $100,000 monthly consulting fee for January 1 to March 31, 2025.
Swanstrom's sign-on LTIP grant has a grant date fair value of $1,500,000 and vests ratably over three years; his 2024 bonus is a fixed $375,000 in cash.
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.
MarketAxess reported third-quarter 2024 revenue of $206.7 million, up 20% from a year earlier, and diluted earnings per share of $1.90, up 30%. The company also said Executive Chairman Rick McVey, its founder, will retire effective December 31, 2024, and Carlos Hernandez will become chairman on January 1, 2025.
Q3 2024 total revenues of $206.7 million, up 20%; net income of $71.5 million and diluted EPS of $1.90, up 30%
Rick McVey retires as executive chairman and director effective December 31, 2024; he will stay as chairman of MarketAxess Limited
Carlos Hernandez to become chairman of the Board effective January 1, 2025; Nancy Altobello stops serving as Lead Independent Director on that date
Quarterly cash dividend of $0.74 per share, payable December 4, 2024 to holders of record on November 20, 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.
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