508 material Form 8-K filings that 423 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
RenaissanceRe Holdings said director Brian G. J. Gray retired from its board effective November 6, 2024, with no disagreement with the company. Loretta J. Mester, a former president of the Federal Reserve Bank of Cleveland, was appointed to fill the vacancy and was named to the Investment and Risk Management Committee. The change is a routine board transition that does not alter reported financial results.
Brian G. J. Gray retired from the board effective November 6, 2024, after serving since 2013
Loretta J. Mester appointed Class II director effective November 6, 2024, serving until the 2027 annual meeting
Mester receives a prorated 2024 cash retainer of $62,500 and restricted stock valued at $165,000, vesting in three annual installments from March 1, 2025
Brinker's board approved performance share awards under a new Fiscal 2025 Executive Performance Share Retention Plan for three executives, with target values of $20 million for CEO Kevin Hochman, $3 million for Aaron White and $2 million for George Felix. At the November 6, 2024 annual meeting, shareholders re-elected all ten director nominees and approved the auditor ratification, the executive compensation proposal and a new 2024 Stock Option & Incentive Plan.
Target awards: Kevin Hochman (CEO and President) $20,000,000; Aaron White (Chief People Officer) $3,000,000; George Felix (Chief Marketing Officer) $2,000,000
Awards pay out from 0% to 200% of target based on five-year total shareholder return from September 26, 2024 through September 25, 2029, relative to the S&P 1500 Hotels, Restaurants and Leisure Index; target requires the 60th percentile
Executives must remain employed through September 25, 2029 to earn any performance shares
Shareholders approved KPMG LLP as Independent Auditors for Fiscal 2025 (39,660,145 for, 856,718 against) and the 2024 Stock Option & Incentive Plan (36,637,438 for, 779,256 against)
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.
Enact Holdings reported third quarter 2024 GAAP net income of $181 million, or $1.15 per diluted share, up from $164 million, or $1.02 per share, a year earlier but slightly below the second quarter's $184 million. Adjusted operating income was $182 million, or $1.16 per share, down from $201 million in the second quarter, and the company expects full-year capital return at the higher end of its $300 million to $350 million range.
Net income $181 million ($1.15 diluted EPS) vs. $184 million ($1.16) in Q2 2024 and $164 million ($1.02) in Q3 2023
Adjusted operating income $182 million ($1.16 per diluted share) vs. $201 million ($1.27) in Q2 2024
Record primary insurance in-force of $268 billion, up 2% from Q3 2023; new insurance written about $14 billion, down 6% year over year
Quarterly dividend of $0.185 per share payable December 5, 2024; full-year capital return expected at the higher end of $300 million to $350 million
Genworth reported third-quarter 2024 net income available to common stockholders of $85 million, or $0.19 per diluted share, up from $29 million a year earlier and $76 million in the prior quarter. Adjusted operating income was $48 million, or $0.11 per diluted share, down from $125 million in the second quarter but up from $42 million a year earlier, with the Enact mortgage insurance segment the main contributor.
Q3 2024 net income $85 million ($0.19 diluted EPS), vs. $76 million ($0.17) in Q2 2024 and $29 million ($0.06) in Q3 2023
Adjusted operating income $48 million ($0.11 per diluted share), vs. $125 million in Q2 2024 and $42 million in Q3 2023
Total revenues $1.88 billion, vs. $1.83 billion in Q2 2024 and $1.77 billion in Q3 2023
Enact adjusted operating income $148 million; Genworth repurchased $36 million of stock in the quarter and $503 million program-to-date through October
Phibro Animal Health reported fiscal first-quarter results for the period ended September 30, 2024, with net sales up 13% to $260.4 million and net income of $7.0 million, compared with a net loss of $8.0 million a year earlier. The company also updated its fiscal 2025 guidance, which excludes the pending Zoetis Medicated Feed Additive acquisition, and shareholders re-elected two directors and ratified PricewaterhouseCoopers as auditor at the November 5 annual meeting.
Net income of $7.0 million, or $0.17 per diluted share, versus a net loss of $8.0 million in the year-earlier quarter
Adjusted EBITDA of $30.7 million, up 64% from $18.7 million
Fiscal 2025 guidance: net sales of $1.05 billion to $1.10 billion and adjusted EBITDA of $124 million to $132 million, excluding the Zoetis portfolio
At the November 5, 2024 annual meeting, Mary Lou Malanoski and Carol A Wrenn were elected as Class II directors and PwC was ratified for fiscal 2025
Mueller Water Products reported fourth-quarter fiscal 2024 net sales of $348.2 million, up 15.5% from a year earlier, but GAAP net income fell to $10.0 million from $17.2 million after a $16.3 million goodwill impairment and an $8.7 million warranty charge. For the full fiscal year, net income rose to $115.9 million and diluted EPS to $0.74, and the company introduced fiscal 2025 net sales guidance of $1.34 billion to $1.36 billion and adjusted EBITDA guidance of $300 million to $305 million.
Q4 net sales $348.2 million vs. $301.4 million; Q4 diluted EPS $0.06 vs. $0.11, while adjusted diluted EPS rose 15.8% to $0.22
Fiscal 2024 net income $115.9 million vs. $85.5 million; diluted EPS $0.74 vs. $0.55; free cash flow $191.4 million vs. $61.4 million
Fiscal 2025 guidance: net sales $1,340 million to $1,360 million; adjusted EBITDA $300 million to $305 million
Year-end cash and cash equivalents $309.9 million against total debt of $449.5 million
The Andersons completed its purchase of a 65% ownership interest in Skyland Grain, LLC on November 1, 2024, for $85.0 million, funded with cash on hand and subject to customary working capital adjustments. Skyland's results will be consolidated into The Andersons' financial statements, and Skyland entered a $378 million credit agreement that is secured by its assets and non-recourse to The Andersons.
65% ownership interest in Skyland Grain, LLC purchased for $85.0 million, completed November 1, 2024
Skyland entered an amended and restated credit agreement with COBANK, ACB and Farm Credit Mid-America, PCA, including a three-year $300 million revolving credit facility and $78 million of term notes
$300 million revolver and $67 million of term notes bear variable rates based on SOFR plus a spread; $11 million of term notes bear fixed rates of 4.0% to 5.8%
Skyland has more than 7,000 active co-op members across more than 50 grain and agronomy locations
STERIS reported fiscal 2025 second-quarter results for the period ended September 30, 2024, with revenue from continuing operations up 7% to $1.3 billion and diluted EPS from continuing operations of $1.51, up from $1.20. The company reiterated its fiscal 2025 outlook, including adjusted EPS of $9.05 to $9.25, so shareholders see higher quarterly profit with no change to guidance.
Revenue rose 7% to $1.3 billion from $1.2 billion a year earlier.
Net income was $150.2 million, or $1.51 per diluted share, versus $119.8 million, or $1.20 per diluted share.
Adjusted EPS was $2.14, up from $1.86 in the prior-year quarter.
Fiscal 2025 adjusted EPS outlook of $9.05 to $9.25 was reiterated, and free cash flow for the first half was $344.5 million.
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.
Archer-Daniels-Midland increased its board from 11 to 12 directors and elected David R. McAtee II, AT&T's senior executive vice president and general counsel, as an independent director effective immediately. The filing describes this as a board addition with no reported financial terms, and McAtee joins the Nominating and Corporate Governance and Compensation and Succession committees.
Board size increased from 11 to 12 directors on November 1, 2024, with McAtee elected to fill the new seat
McAtee has been AT&T's worldwide General Counsel since 2015 and will serve until the next annual meeting of stockholders
McAtee will sit on the Nominating and Corporate Governance and Compensation and Succession committees; his director pay follows the policies in the April 10, 2024 proxy statement
Everus Construction Group reported third quarter 2024 results, with revenue of $761.0 million, up 6.1% from a year earlier, and net income of $41.8 million, or 82 cents per share. The company reiterated its 2024 guidance of $2.65 billion to $2.85 billion in revenue and $220 million to $240 million in EBITDA, and said its backlog reached $2.88 billion, up 43.5% from the start of the year. Shareholders get a clear quarter of growth in revenue and profit, while the full-year outlook was held rather than changed.
Revenue of $761.0 million, up 6.1%; net income of $41.8 million, up 16.1%; EPS of 82 cents, up 15.5%
EBITDA of $65.0 million, up 12.1%; EBITDA margin of 8.5%, up 40 basis points
Backlog of $2.88 billion at Sept. 30, 2024, up 43.5% from prior year-end
2024 guidance reiterated: revenue $2.65 billion to $2.85 billion; EBITDA $220 million to $240 million
Interparfums reported third-quarter 2024 net sales of $425 million, up 15%, with operating income up 22% to $106 million and diluted EPS of $1.93 versus $1.66 a year earlier. The company reaffirmed its 2024 guidance of $1.45 billion in net sales and $5.15 diluted EPS, and said initial 2025 guidance will come on November 12, 2024.
Q3 2024 net sales were $425 million, up 15% from $368 million; nine-month net sales were $1.09 billion, up 10%.
Q3 diluted EPS was $1.93, up from $1.66; nine-month diluted EPS was $4.34, down 2% from $4.42.
Operating cash flow for Q3 was $76.1 million, compared with $17.5 million in the prior-year quarter.
The regular quarterly dividend of $0.75 per share is payable December 31, 2024, to holders of record on December 16, 2024.
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
Coeur Mining reported third quarter 2024 revenue of $313 million, up from $222 million in the second quarter, and GAAP net income from continuing operations of $49 million, or $0.12 per share, compared with $1.4 million in the prior quarter. The company reaffirmed its full-year 2024 production and cost guidance, which supports the outlook for shareholders while the pending SilverCrest acquisition is expected to close in late first quarter 2025.
Revenue rose to $313 million from $222 million in Q2 2024; net income was $49 million ($0.12 per share) versus $1.4 million in Q2.
Adjusted EBITDA was $126 million, operating cash flow $111 million and free cash flow $69 million in the quarter.
Full-year 2024 production and cost guidance was reaffirmed; the SilverCrest acquisition is expected to close late in the first quarter of 2025.
Q2 Holdings reported third-quarter 2024 revenue of $175.0 million, up 13% year-over-year, and a GAAP net loss of $11.8 million, down from $23.2 million a year earlier. The company also issued fourth-quarter and updated full-year 2024 guidance, projecting non-GAAP revenue of $691.5 million to $694.5 million for the year.
Q3 2024 revenue of $175.0 million, up 13% year-over-year and up 1% from Q2 2024
GAAP net loss of $11.8 million, compared with $23.2 million in Q3 2023
Adjusted EBITDA of $32.6 million, up from $19.7 million in Q3 2023
Q4 2024 non-GAAP revenue guidance of $178.1 million to $181.1 million; full-year 2024 guidance of $691.5 million to $694.5 million
MKS Instruments reported third quarter 2024 results, with revenue of $896 million, down from $932 million a year earlier but up from $887 million in the prior quarter. Profit measures improved year over year, with GAAP net income of $62 million and non-GAAP EPS of $1.72, versus $1.46 a year earlier. The company also gave fourth quarter 2024 guidance of $910 million in revenue, plus or minus $40 million, and non-GAAP EPS of $1.95, plus or minus $0.32.
Q3 2024 revenue was $896 million, versus $932 million in Q3 2023 and $887 million in Q2 2024.
GAAP net income was $62 million, or $0.92 per diluted share, versus $39 million, or $0.58, a year earlier.
Non-GAAP EPS was $1.72 and Adjusted EBITDA was $232 million, compared with $241 million in Q3 2023.
Q4 2024 outlook: revenue of $910 million (plus or minus $40 million) and non-GAAP EPS of $1.95 (plus or minus $0.32).
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
Arcus Biosciences reported third-quarter 2024 revenue of $48 million, up from $32 million a year earlier, but its net loss widened to $92 million from $71 million as research and development spending rose to $123 million. The company said its $1.1 billion in cash, cash equivalents and marketable securities should fund operations into mid-2027, and it expects year-end 2024 cash of $950 million to $985 million.
Q3 2024 revenue was $48 million versus $32 million in Q3 2023; nine-month revenue was $232 million versus $86 million.
Q3 2024 net loss was $92 million, or $1.00 per share, compared with $71 million, or $0.94 per share, a year earlier.
R&D expenses were $123 million in Q3 2024 versus $82 million, driven by late-stage clinical trial and headcount costs.
Cash, cash equivalents and marketable securities were $1.1 billion at September 30, 2024, up from $866 million at December 31, 2023.
Kyndryl reported fiscal second-quarter revenue of $3.8 billion, down 7% year over year, with a net loss of $43 million, or $(0.19) per diluted share, compared with a $142 million loss a year earlier. The company reaffirmed its fiscal 2025 outlook, including adjusted pretax income of at least $460 million, while revenue is expected to decline in the full year.
Revenue of $3.8 billion fell 7% year over year, reflecting reduced inherited no-margin and low-margin third-party content in contracts.
Net loss was $43 million, or $(0.19) per diluted share, versus $142 million, or $(0.62) per diluted share, a year earlier; adjusted pretax income rose 80% to $45 million.
Total signings were a record $5.6 billion, up 132% year over year; cash flow from operations was $149 million.
Fiscal 2025 outlook reaffirmed: adjusted pretax income of at least $460 million and constant-currency revenue growth of (2%) to (4%).
Primerica reported third quarter 2024 results, with total revenues of $774.1 million, up 11%, and diluted EPS from continuing operations of $5.72, up 31%. The EPS figure includes a $0.52 per share net remeasurement gain from the annual actuarial assumption review, and the company also reported a net loss from discontinued operations tied to its exit from the senior health business.
Total revenues of $774.1 million rose 11% from the third quarter of 2023; net income from continuing operations was $194.7 million, up 24%.
Diluted EPS from continuing operations was $5.72, up 31%, including a $0.52 remeasurement gain; diluted adjusted operating EPS was $5.68, up 28%.
Net income including discontinued operations was $164.4 million, or $4.83 diluted EPS, compared with $4.23 a year earlier.
The Board declared a $0.90 per share dividend payable December 12, 2024, and the company repurchased $129 million of common stock during the quarter.
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
Black Hills Corp. reported third-quarter 2024 net income available for common stock of $24.4 million, down from $45.4 million a year earlier, and diluted EPS of $0.35 versus $0.67. Revenue was $401.6 million compared with $407.1 million, and the company reaffirmed its 2024 EPS guidance of $3.80 to $4.00 per share, which it says it is on track to achieve.
Q3 2024 diluted EPS was $0.35, versus $0.67 in Q3 2023; net income available for common stock was $24.4 million versus $45.4 million.
Q3 2024 revenue was $401.6 million, versus $407.1 million; nine-month diluted EPS was $2.52, versus $2.74.
2024 EPS guidance of $3.80 to $4.00 was reaffirmed, with the company citing higher operating expenses, unplanned generation outages and higher interest expense as pressures on earnings.
Black Hills completed its planned 2024 equity issuance, raising $182 million year to date, and ended the quarter at its 55% debt long-term capitalization target.
Coherent reported fiscal first-quarter 2025 results for the period ended September 30, 2024, with revenue up 28% year over year to $1.35 billion and non-GAAP diluted EPS of $0.74, compared with $0.16 a year earlier. GAAP results were still a loss of $(0.04) per diluted share, and the company guided to second-quarter revenue of $1.33 billion to $1.41 billion. Management attributed the growth mainly to AI-related datacom transceivers, and shareholders now have a clearer view of near-term revenue and profit expectations.
Revenue for the quarter ended September 30, 2024 was $1.35 billion, up 28% from $1.05 billion a year earlier.
GAAP diluted loss per share was $(0.04), compared with $(0.65) a year earlier; non-GAAP diluted EPS was $0.74, compared with $0.16.
Second-quarter fiscal 2025 guidance: revenue of $1.33 billion to $1.41 billion and non-GAAP EPS of $0.61 to $0.77.
The company paid down $118 million of outstanding debt during the quarter.
Fidelity National Financial reported third-quarter 2024 net earnings attributable to common shareholders of $266 million, or $0.97 per diluted share, down from $426 million, or $1.57 per share, a year earlier. Adjusted net earnings rose to $356 million, or $1.30 per share, from $333 million, and total revenue increased to $3.6 billion from $2.8 billion. The company attributes the GAAP decline to mark-to-market effects and non-recurring items, which it excludes from adjusted results.
Total revenue of $3,603 million for Q3 2024, compared with $2,778 million in Q3 2023
GAAP net earnings of $266 million ($0.97 per diluted share), compared with $426 million ($1.57) in Q3 2023
Adjusted net earnings of $356 million ($1.30 per share), compared with $333 million ($1.23) in Q3 2023
Title Segment adjusted pre-tax title margin of 15.9%, compared with 16.2% in Q3 2023
Innoviva reported third quarter 2024 total revenue of $89.5 million, up from $67.3 million a year earlier, driven by higher net product sales and royalties. Net income fell to $1.2 million, or $0.02 per share, from $82.0 million, or $1.26 per share, mainly because of unfavorable fair value changes in its equity and long-term investments.
Total revenue was $89.5 million for the quarter ended September 30, 2024, compared with $67.3 million for the same quarter of 2023.
Net product sales were $27.8 million, including U.S. net product sales of $19.7 million, a 68% increase from $11.8 million.
Net change in fair value of equity and long-term investments was unfavorable by $35.2 million, primarily due to a lower share price of Armata Pharmaceuticals.
Cash and cash equivalents totaled $260.6 million as of September 30, 2024.
Texas Pacific Land reported third-quarter 2024 results, with total revenue of $173.6 million, up from $172.3 million in the second quarter, while net income fell to $106.6 million from $114.6 million. The company also raised its quarterly cash dividend by 37% to $1.60 per share and posted an updated investor presentation.
Q3 2024 diluted EPS was $4.63, versus $4.98 in Q2 2024; nine-month net income was $335.6 million, up from $292.5 million a year earlier.
Total operating expenses rose to $46.2 million from $39.1 million, mainly due to higher legal and professional fees.
The board declared a quarterly cash dividend of $1.60 per share, up from $1.17, payable December 16, 2024.
Acquisitions in Q3 included northern Delaware Basin mineral interests for $120.3 million and Midland Basin surface acreage for $45.0 million.
HubSpot reported third-quarter 2024 results for the period ended September 30, 2024, in a press release furnished under Item 2.02. Revenue grew 20% to $669.7 million, and the company posted GAAP net income of $8.1 million, compared with a net loss of $3.6 million a year earlier. HubSpot also issued fourth-quarter and full-year 2024 guidance, with Q4 revenue expected at $672.0 million to $674.0 million.
Total revenue was $669.7 million, up 20% from Q3 2023
GAAP net income was $8.1 million, or $0.16 per diluted share, versus a net loss of $3.6 million in Q3 2023
Non-GAAP operating income was $125.2 million, compared with $92.1 million in Q3 2023
Full-year 2024 revenue guidance is $2.597 billion to $2.599 billion; non-GAAP EPS guidance is $7.98 to $8.00
FICO reported fiscal fourth-quarter 2024 results for the quarter ended September 30, 2024, with revenue up 16% to $453.8 million and GAAP diluted earnings per share of $5.44, compared with $4.01 a year earlier. The company also issued fiscal 2025 guidance of $1.98 billion in revenue and GAAP EPS of $25.05, which gives shareholders a reference point for the coming year.
Quarterly revenue was $453.8 million, up from $389.7 million; Scores revenue rose 27% to $249.2 million and Software revenue rose 5% to $204.6 million.
GAAP net income was $135.7 million, or $5.44 per diluted share, versus $101.4 million, or $4.01, a year earlier; non-GAAP EPS was $6.54 versus $5.01.
Fiscal 2025 guidance calls for revenues of $1.98 billion, GAAP EPS of $25.05 and non-GAAP EPS of $28.58.
Veeco reported third quarter 2024 revenue of $184.8 million, up from $177.4 million a year earlier, while GAAP net income fell to $22.0 million from $24.6 million. The company also updated its full-year 2024 outlook, narrowing its revenue range to $700 million to $720 million and its non-GAAP EPS range to $1.68 to $1.78, which matters to shareholders because profit declined even as sales grew.
Q3 2024 revenue was $184.8 million versus $177.4 million in Q3 2023.
GAAP diluted EPS was $0.36 versus $0.42; non-GAAP diluted EPS was $0.46 versus $0.53.
Q4 2024 guidance: revenue of $165 million to $185 million and non-GAAP diluted EPS of $0.35 to $0.45.
Updated FY 2024 outlook: revenue of $700 million to $720 million, down from $690 million to $730 million; non-GAAP EPS of $1.68 to $1.78, down from $1.65 to $1.85.
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.
Take-Two Interactive reported fiscal second-quarter 2025 results for the period ended September 30, 2024, with net bookings up 2% and GAAP net revenue up 4% from a year earlier. The company reiterated its fiscal 2025 net bookings outlook of $5.55 billion to $5.65 billion, while its GAAP net loss narrowed, which matters to shareholders because it shows higher sales and a smaller loss than the prior year.
Net bookings were $1.47 billion, up 2% from $1.44 billion a year earlier, with recurrent consumer spending making up 81% of the total.
GAAP net revenue rose 4% to $1.35 billion, compared with $1.30 billion in the prior-year quarter.
GAAP net loss was $365.5 million, or $2.08 per share, versus $543.6 million, or $3.20 per share, a year earlier.
Fiscal 2025 net bookings guidance of $5.55 billion to $5.65 billion was reiterated; fiscal third-quarter net bookings are expected to be $1.35 billion to $1.40 billion.
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
LegalZoom reported third-quarter 2024 results with revenue up 1% to $168.6 million and net income of $11.1 million, compared with $7.5 million a year earlier. Subscription revenue grew 5% while transaction revenue fell 7%, and the company said its share repurchase authorization was increased by $40.0 million to a total of $215.0 million after quarter end. The filing also amends the company's bylaws and confirms the November 4, 2024 effective date of a technology executive's resignation.
Q3 2024 revenue of $168.6 million, up 1% year-over-year; subscription revenue of $110.7 million, up 5%; transaction revenue of $57.9 million, down 7%
Net income of $11.1 million versus $7.5 million a year earlier; Adjusted EBITDA of $47.1 million, or 28% of revenue
Outlook: Q4 2024 revenue of $158 million to $162 million; full-year 2024 revenue of $678 million to $682 million and free cash flow of $80 million to $85 million
Board adopted amended bylaws on November 5, 2024 with universal proxy and advance notice changes; Shrisha Radhakrishna's resignation as CTO and Chief Product Officer took effect November 4, 2024
SiTime reported third-quarter 2024 revenue of $57.7 million, up 32% from the prior quarter and 62% from a year earlier. The GAAP net loss narrowed to $19.3 million, or $0.83 per diluted share, from $26.8 million, or $1.16 per share, in the second quarter, and non-GAAP net income was $9.6 million, or $0.40 per diluted share. For shareholders, the filing shows sharply higher sales and a smaller loss, though the company still reported a GAAP loss for the quarter.
Q3 2024 net revenue was $57.7 million, up 32% from $43.9 million in Q2 2024 and up 62% from a year earlier.
GAAP net loss was $19.3 million, or $0.83 per diluted share, versus a net loss of $26.8 million, or $1.16 per share, in Q2 2024.
Non-GAAP income from operations was $4.0 million, compared with a non-GAAP loss from operations of $2.8 million in Q2 2024.
Cash, cash equivalents and short-term investments were $434.8 million on 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.
Waystar reported third-quarter 2024 results for the period ended September 30, 2024, with revenue of $240.1 million, up 22% from $197.3 million a year earlier. The company swung to GAAP net income of $5.4 million from a net loss of $15.5 million in the same quarter of 2023. It also issued full-year 2024 guidance of $926 million to $934 million in revenue and $374 million to $378 million in Adjusted EBITDA, which shareholders can compare with future results.
Revenue of $240.1 million, up 22% year over year; subscription revenue $118.0 million and volume-based revenue $120.7 million
GAAP net income of $5.4 million, or $0.03 per diluted share, versus a loss of $0.13 per share a year earlier
Non-GAAP net income of $25.3 million, or $0.14 per diluted share; Adjusted EBITDA of $96.7 million, a 40% margin
Full-year 2024 guidance: revenue of $926 million to $934 million; Adjusted EBITDA of $374 million to $378 million
Power Integrations reported third-quarter 2024 revenue of $115.8 million, up 9% from the prior quarter but down 8% from a year earlier, with GAAP diluted EPS of $0.25 versus $0.34 in the third quarter of 2023. For the fourth quarter, the company forecast revenue of $105 million plus or minus $5 million, below the third-quarter level, and also authorized a $50 million share repurchase and a 5% dividend increase.
Q3 2024 revenue $115.8 million: up 9% from Q2 2024 and down 8% from Q3 2023
Q4 2024 forecast: revenue $105 million plus or minus $5 million; GAAP gross margin 54% to 54.5%
Board authorized $50 million in share repurchases with no expiration date; quarterly dividend rises to $0.21 per share from $0.20, payable December 31, 2024
EVERTEC reported third-quarter 2024 revenue of $211.8 million, up 22%, and GAAP net income attributable to common shareholders of $24.7 million, up 146%. The company also said it closed its acquisition of Grandata on October 30, 2024, and its 2024 outlook for revenue and adjusted earnings per share was unchanged in the filing.
Revenue rose 22% to $211.8 million; GAAP diluted EPS rose 153% to $0.38
Adjusted EBITDA rose 11% to $87.4 million, but adjusted EBITDA margin fell about 420 basis points to 41.3%
Adjusted EPS rose 8% to $0.86; the company repurchased $12.3 million of stock, with about $138 million remaining under its program
Grandata, a Mexico-based data analytics company, was acquired on October 30, 2024
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