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).
Axon reported third-quarter 2024 revenue of $544 million, up 32% from a year earlier, and net income of $67 million, or $0.86 per diluted share. The company raised its full-year 2024 revenue outlook to approximately $2.07 billion from a prior range of $2.00 billion to $2.05 billion, and its full-year Adjusted EBITDA outlook to approximately $510 million from $460 million to $475 million.
Q3 2024 revenue was $544 million, up 32% year over year; Axon Cloud & Services revenue rose 36% to $203 million.
Full-year 2024 revenue outlook raised to approximately $2.07 billion; full-year Adjusted EBITDA outlook raised to approximately $510 million.
Operating profit fell to $24 million from $57 million, mainly due to higher stock-based compensation expense of $102 million.
Net income was $67 million, or $0.86 per diluted share; non-GAAP net income was $113 million, or $1.45 per diluted share.
RingCentral reported third-quarter 2024 total revenue of $609 million, up 9% year over year, and GAAP operating income of $3 million, compared with a loss of $54 million a year earlier. The company raised its full-year 2024 total revenue range to $2.397 billion to $2.399 billion and its non-GAAP EPS outlook to $3.69, and it named Abhey Lamba as Chief Financial Officer.
Total revenue was $609 million, up from $558 million; subscriptions revenue was $583 million, up 10%.
GAAP net loss per share was ($0.09), compared with ($0.45) a year earlier; diluted non-GAAP EPS was $0.95, compared with $0.78.
Full-year 2024 non-GAAP EPS guidance was raised to $3.69, and free cash flow guidance was raised to $400 million to $405 million.
Abhey Lamba was appointed Chief Financial Officer.
Corpay reported third-quarter 2024 revenue of $1,029.2 million, up 6%, and diluted EPS of $3.90, up 7%, with adjusted diluted EPS of $5.00, up 11%. The company slightly lowered its full-year 2024 revenue guidance, citing fuel prices and foreign exchange rates, while maintaining its $19.00 cash EPS guide, and the board raised the share repurchase authorization by $1 billion.
Q3 2024 revenue of $1,029.2 million, up 6% from $970.9 million; first quarter above $1 billion, per the company
Q3 diluted EPS $3.90, up 7%; adjusted diluted EPS $5.00, up 11% from $4.49
2024 revenue guidance lowered to $3,980 million to $4,010 million (midpoint $3,995 million); cash EPS guide maintained at $19.00
Share repurchase authorization increased by $1 billion; $500 million Term Loan B upsizing completed September 26, 2024
A10 Networks reported third-quarter 2024 revenue of $66.7 million, up from $57.8 million a year earlier, and GAAP net income of $12.6 million, or $0.17 per diluted share, compared with $6.5 million, or $0.09, in the prior-year quarter. The Board also approved a $0.06 quarterly dividend and a new repurchase program of up to $50 million of common stock, and the filing contains no updated revenue or profit guidance.
Q3 2024 revenue was $66.7 million versus $57.8 million in Q3 2023; nine-month revenue was $187.5 million versus $181.3 million.
GAAP net income was $12.6 million ($0.17 per diluted share) versus $6.5 million ($0.09) a year earlier; non-GAAP EPS was $0.21 versus $0.16.
The Board approved a $0.06 per share quarterly dividend, payable December 2, 2024, to holders of record on November 18, 2024.
A new repurchase program authorizes up to $50 million of common stock, with no specified term; the company plans to fund it from existing cash and operating cash flow.
Brighthouse Financial reported third quarter 2024 net income available to shareholders of $150 million, or $2.47 per diluted share, down from $453 million a year earlier. Adjusted earnings rose to $767 million, but that figure includes $524 million of net favorable notable items tied to the annual actuarial review. The estimated combined RBC ratio of 365% to 385% is below the company's 400% to 450% target range, and the company said it is in the final stages of a reinsurance transaction intended to address this.
Net income available to shareholders was $150 million, or $2.47 per diluted share, versus $453 million, or $6.89 per share, in Q3 2023.
Adjusted earnings were $767 million, or $12.58 per diluted share, including $524 million of net favorable notable items; adjusted earnings less notable items were $243 million, or $3.99 per share.
Estimated combined RBC ratio was between 365% and 385% at September 30, 2024, below the 400% to 450% target range; a reinsurance transaction is in final stages and expected before year-end.
The company repurchased about $64 million of common stock in Q3 2024 and about $215 million year-to-date through November 1, 2024.
News Corp reported fiscal first-quarter 2025 results for the three months ended September 30, 2024, with revenue of $2.58 billion, up 3%, and net income of $144 million, up from $58 million a year earlier. The company also said CFO Susan Panuccio will leave the role on January 1, 2025, and be succeeded by Lavanya Chandrashekar, while director Kelly Ayotte will not stand for re-election.
Revenue was $2.58 billion, up 3% from $2.50 billion; EPS were $0.21 versus $0.05 a year earlier
Total Segment EBITDA rose 14% to $415 million; adjusted EPS were $0.21 versus $0.16
Lavanya Chandrashekar, formerly CFO of Diageo plc, becomes CFO effective January 1, 2025; Panuccio stays as Senior Advisor through June 29, 2025
Board size will be reduced to six members after Kelly Ayotte's departure, which the filing says did not result from any disagreement with the company
DXC Technology reported second quarter fiscal 2025 results for the quarter ended September 30, 2024, with revenue down 5.7% to $3.24 billion and GAAP diluted EPS down 53.1% to $0.23. The company raised its full-year non-GAAP EPS, adjusted EBIT margin and free cash flow guidance, but full-year organic revenue guidance was revised to a decline of 5.5% to 4.5% from 6.0% to 4.0%, so shareholders see a higher profit outlook alongside falling sales and lower GAAP earnings.
Quarterly revenue was $3.24 billion, down 5.7% year-over-year (down 5.6% on an organic basis).
GAAP diluted EPS was $0.23, down 53.1%; non-GAAP diluted EPS was $0.93, up 32.9%.
Full-year non-GAAP diluted EPS guidance rose to $3.00-$3.25 from $2.75-$3.00; free cash flow guidance rose to about $550 million from about $450 million.
Full-year revenue guidance is $12.9 billion to $13.1 billion, a decline of 5.5% to 4.5% on an organic basis versus the prior 6.0% to 4.0%.
AMN Healthcare reported third quarter 2024 revenue of $687.5 million, down 19% from a year earlier, with GAAP diluted EPS of $0.18 versus $1.39 and adjusted diluted EPS of $0.61 versus $1.97. The company guided fourth quarter revenue to $685 million to $705 million, 14% to 16% below the prior year, and separately amended its credit agreement to allow a higher maximum net leverage ratio through December 31, 2025.
Q3 2024 revenue was $687.5 million, down 19% from $853.5 million in Q3 2023; net income was $7.0 million versus $53.2 million
Fourth quarter 2024 guidance: revenue of $685 million to $705 million and operating margin of 1.8% to 2.5%
Fourth Amendment dated November 5, 2024 raises the maximum Consolidated Net Leverage Ratio to 4.50 to 1.00 for December 31, 2024 through December 31, 2025, reverting to 4.00 to 1.00 afterward
Net leverage ratio was 2.8 to 1.0 at September 30, 2024, and the company reduced debt by $60 million in the quarter
Solventum reported third-quarter 2024 sales of $2.082 billion, up 0.4%, while GAAP earnings per share fell to $0.70 from $2.66 a year earlier and adjusted EPS was $1.64 versus $2.87. The company raised its full-year 2024 adjusted EPS guidance to $6.50 to $6.65 from $6.30 to $6.50, so shareholders get a higher outlook alongside a sharp drop in quarterly profit.
Q3 2024 net sales $2.082 billion, up 0.4%; organic sales up 0.3%
GAAP EPS $0.70 vs. $2.66 in Q3 2023; adjusted EPS $1.64 vs. $2.87
Full-year 2024 adjusted EPS guidance raised to $6.50 to $6.65 (previously $6.30 to $6.50)
Full-year free cash flow guidance raised to $750 million to $850 million (previously $700 million to $800 million)
Aptiv said its Vice Chairman, Business Operations and CFO Joseph Massaro will lead the Engineered Components Group effective November 8, 2024, and will be succeeded as CFO by Varun Laroyia, formerly of LKQ Corporation. COO William Presley will also step down on November 22, 2024, to pursue other opportunities. The changes are a leadership transition at the finance chief and operating levels, and the filing reports no financial results.
Varun Laroyia named Executive Vice President and CFO effective November 8, 2024; he previously served at LKQ Corporation, most recently as Senior Advisor
Laroyia's pay: $850,000 base salary, 100% bonus target, $4,050,000 annual LTI award, $3,000,000 one-time LTI award, and $2,000,000 signing bonus
William T. Presley, Vice Chairman and Chief Operating Officer, steps down November 22, 2024; his duties will be assumed by other management
Alarm.com reported third-quarter 2024 results for the quarter ended September 30, 2024. Total revenue rose 8.4% to $240.5 million, and GAAP net income attributable to common stockholders rose 87.9% to $36.7 million, or $0.67 per diluted share. The company also increased its full-year 2024 guidance, which points to higher expected revenue and profitability for shareholders.
Q3 total revenue rose 8.4% to $240.5 million; SaaS and license revenue rose 9.8% to $159.3 million.
GAAP diluted earnings per share were $0.67, compared with $0.37 in the third quarter of 2023.
Full-year 2024 total revenue guidance is $933.7 million to $935.9 million; non-GAAP adjusted EBITDA guidance is $174.0 million to $176.0 million.
Cash and cash equivalents were $1.17 billion at September 30, 2024, helped by the May 2024 issuance of $500.0 million in convertible notes.
Toast reported third-quarter 2024 results, with total revenue of $1,305 million, up from $1,032 million a year earlier, and net income of $56 million, compared with a net loss of $31 million in Q3 2023. The company raised its full-year 2024 Adjusted EBITDA outlook to $352 million to $362 million, up from $285 million to $305 million.
Total revenue rose to $1,305 million in Q3 2024 from $1,032 million in Q3 2023.
Net income was $56 million, or $0.07 diluted EPS, versus a net loss of $31 million, or $(0.09) per share, a year earlier.
Full-year 2024 Adjusted EBITDA outlook raised to $352 million to $362 million, up from $285 million to $305 million.
Q4 2024 Adjusted EBITDA is expected in the range of $90 million to $100 million.
Adeia reported third-quarter 2024 revenue of $86.1 million, down from $101.4 million a year earlier, and GAAP diluted EPS of $0.17, down from $0.21. It narrowed its full-year 2024 revenue outlook to $370 million-$400 million from $380 million-$420 million and lowered its GAAP net income outlook, which weighs on shareholders even though the board raised its share repurchase authorization to $200.0 million.
Q3 2024 revenue was $86.1 million, versus $101.4 million in Q3 2023 and $87.4 million in Q2 2024.
Q3 2024 GAAP diluted EPS was $0.17 (Q3 2023: $0.21); non-GAAP diluted EPS was $0.27 (Q3 2023: $0.38).
Full-year 2024 GAAP net income outlook was lowered to $65.9 million-$69.3 million from $71.4 million-$75.6 million.
The board raised the share repurchase authorization to $200.0 million in October, and declared a $0.05 per share dividend payable December 18, 2024.
Motorola Solutions reported third-quarter 2024 sales of $2.8 billion, up 9% from a year earlier, with GAAP EPS of $3.29 (up 22%) and non-GAAP EPS of $3.74 (up 17%). The company raised its full-year 2024 revenue growth outlook to 8.25% from about 8% and its non-GAAP EPS outlook to $13.63 to $13.68 from $13.22 to $13.30.
Q3 2024 sales were $2,790 million versus $2,556 million in Q3 2023; GAAP operating earnings were $711 million, up 11%.
Software and Services segment GAAP operating earnings fell 4% to $265 million, while its sales rose 7% to $1,006 million.
Operating cash flow was $759 million and free cash flow was $702 million, compared with $714 million and $649 million a year earlier.
The company paid $164 million in dividends and reported backlog of $14.1 billion, down 1% from the year-ago quarter.
Genpact reported third-quarter 2024 revenue of $1.21 billion, up 7% year over year, and diluted EPS of $0.74, up 16%. The company raised its full-year 2024 outlook, with adjusted diluted EPS now expected at $3.23 to $3.24, up from $3.14 to $3.18 previously.
Q3 2024 net income was $133 million, up 13% year over year, and adjusted diluted EPS was $0.85, up 12%.
Full-year 2024 revenue guidance is $4.740 billion to $4.751 billion, up from prior growth guidance of about 4.0% to 5.0% as reported.
Genpact repurchased about 1.9 million common shares in the quarter for about $75 million.
Fortinet reported third-quarter 2024 results on November 7, 2024, with total revenue of $1.51 billion, up 13.0% from a year earlier, and GAAP diluted earnings of $0.70 per share, up from $0.41. The company raised its 2024 revenue and non-GAAP operating margin guidance and increased its share repurchase authorization by $1 billion, which leaves about $2.03 billion available for buybacks.
Total revenue was $1.51 billion, up 13.0% from $1.33 billion in Q3 2023; service revenue rose 19.1%.
GAAP net income was $539.9 million, compared with $322.9 million in Q3 2023; GAAP diluted EPS was $0.70 versus $0.41.
Fiscal 2024 revenue guidance is $5.856 billion to $5.916 billion, and non-GAAP operating margin guidance is 32.9% to 33.9%.
As of November 7, 2024, about $2.03 billion remained available for share repurchases.
ADMA Biologics reported third quarter 2024 revenue of $119.8 million, up 78% from a year earlier, and GAAP net income of $35.9 million, compared with $2.6 million in the prior-year quarter. The company raised its full-year 2024 and 2025 revenue, GAAP net income and Adjusted EBITDA guidance, and appointed KPMG LLP as its new independent auditor.
Q3 2024 revenue was $119.8 million versus $67.3 million in Q3 2023; corporate gross margin was 50% versus 37%.
Q3 2024 GAAP net income was $35.9 million, or $0.15 per diluted share, versus $2.6 million a year earlier.
FY 2024 revenue guidance rose to more than $415 million from more than $400 million; FY 2024 GAAP net income guidance rose to more than $120 million from $105 million.
KPMG LLP was engaged as the new independent registered public accounting firm effective November 7, 2024, succeeding CohnReznick.
DiamondRock reported third-quarter 2024 results, with total revenues up 3.1% to $285.1 million but net income down 2.6% to $26.6 million. The company lowered its full-year 2024 comparable RevPAR growth guidance to 1.5% to 2.0%, from 1.5% to 3.0%, citing current transient trends and Hurricanes Helene and Milton, while keeping the Adjusted EBITDA midpoint and raising the Adjusted FFO per share midpoint.
Q3 2024 net income was $26.6 million, or $0.11 per diluted share, versus $27.3 million, or $0.12, a year earlier.
Q3 2024 Adjusted EBITDA rose 3.3% to $75.6 million, and Adjusted FFO per share was $0.26, flat year over year.
Full-year 2024 comparable RevPAR growth guidance was cut to 1.5% to 2.0% from 1.5% to 3.0%.
Expedia Group reported third-quarter 2024 revenue of $4.1 billion, up 3% from a year earlier, and GAAP diluted earnings per share of $5.04 versus $2.87, with net income attributable to the company of $684 million. The company also raised its full-year guidance, though the filing text does not give the new figures. Chief Financial Officer Julie Whalen will step down once a successor is appointed, which is expected before February 17, 2025, and she resigned from the board effective immediately.
Revenue of $4.1 billion rose 3% year over year, including a 2-point negative impact from foreign exchange; gross bookings of $27.5 billion rose 7%
GAAP diluted EPS was $5.04 versus $2.87; adjusted EPS was $6.13 versus $5.41, up 13%
Adjusted EBIT was $892 million, down 1% from $903 million
Julie Whalen will remain CFO through February 17, 2025, and she resigned from the board effective November 7, 2024
Collegium reported third-quarter 2024 product revenue of $159.3 million, up 17% year over year, while GAAP net income fell to $9.3 million from $20.6 million a year earlier. The company reaffirmed its full-year 2024 product revenue guidance of $620.0 million to $635.0 million and said Vikram Karnani will become President and Chief Executive Officer effective November 12, 2024, succeeding Michael Heffernan, who remains Chairman.
Q3 2024 product revenue was $159.3 million versus $136.7 million a year earlier; GAAP diluted EPS was $0.27 versus $0.53
Q3 2024 adjusted EBITDA was $105.1 million, up 18% from $89.4 million; GAAP operating expenses rose to $62.0 million from $35.3 million
Full-year 2024 guidance reaffirmed: product revenue $620.0 million to $635.0 million, adjusted EBITDA $395.0 million to $405.0 million
Karnani's agreement includes a $875,000 base salary, a 75% target bonus, a $500,000 signing bonus and $10 million in equity awards
CME Group's board approved an amended employment agreement extending Chairman and CEO Terry Duffy's term through December 31, 2026, with base salary, target bonus and long-term incentive targets unchanged. The company also named CFO Lynne Fitzpatrick President and CFO, and COO Julie Holzrichter is stepping down to become an advisor, with Suzanne Sprague succeeding her as COO. The filing reports no financial results, so the changes affect shareholders mainly through leadership continuity and the terms of executive compensation.
Duffy's employment term extended to December 31, 2026; the agreement may be extended further to December 31, 2027
Lynne Fitzpatrick promoted to President and Chief Financial Officer; she has served as CFO since April 2023
Julie Holzrichter, COO since 2014, steps down and will remain with the company as an advisor
Suzanne Sprague, Senior Managing Director and Global Head of Clearing and Post-Trade Services, assumes the COO role
Medical Properties Trust reported a third quarter 2024 net loss attributable to common stockholders of $801 million, or $1.34 per share, versus net income of $117 million, or $0.19 per share, a year earlier. The loss reflects about $608 million of impairment charges, largely tied to Steward hospitals, while normalized funds from operations (NFFO) fell to $94 million, or $0.16 per share, from $226 million, or $0.38 per share.
Q3 2024 net loss of $801 million ($1.34 per share) vs. net income of $117 million ($0.19 per share) in Q3 2023
NFFO of $94 million ($0.16 per share) vs. $226 million ($0.38 per share) a year earlier
$425 million impairment of Steward working capital loans and $134 million reduction in the fair value of the PHP Holdings investment
Sold 18 freestanding emergency department facilities and one general acute hospital in Arizona and Colorado for about $246 million
Ralph Lauren reported fiscal second-quarter 2025 results with revenue up 6% to $1.7 billion and reported diluted EPS of $2.31, up from $2.19. The company raised its full-year fiscal 2025 revenue and operating margin expansion outlook, citing brand momentum, which is a positive signal for shareholders.
Second-quarter revenue rose 6% to $1.7 billion on a reported basis, with Asia up 9%, Europe up 7% and North America up 3%.
Reported diluted EPS was $2.31 versus $2.19 a year earlier; adjusted diluted EPS was $2.54, up 21%.
Full-year fiscal 2025 constant currency revenue growth is now expected at about 3% to 4%, and operating margin expansion at about 110 to 130 basis points.
The company repurchased about $100 million of Class A stock in the quarter and ended with $1.7 billion in cash and short-term investments.
ACI Worldwide reported third-quarter 2024 revenue of $452 million, up 24% from a year earlier, and net income of $81 million, up 115%. The company raised its full-year 2024 revenue and adjusted EBITDA guidance, which is the main factor for shareholders.
Q3 2024 net income was $81 million, up from $38 million in Q3 2023; adjusted EBITDA was $167 million, up 61%.
Full-year 2024 revenue guidance is now $1.567 billion to $1.601 billion, up from $1.557 billion to $1.591 billion.
Full-year 2024 adjusted EBITDA guidance is now $433 million to $448 million, up from $423 million to $438 million.
Year-to-date 2024 share repurchases totaled $128 million, with $372 million remaining on the authorization at quarter end.
BorgWarner said CEO Frederic B. Lissalde will retire effective at the close of business on February 6, 2025, and Joseph F. Fadool, its executive vice president and chief operating officer, will succeed him. Fadool will also join the board, filling the seat Lissalde vacates, and Lissalde will serve as a consultant through August 30, 2025. The company also declared a quarterly dividend of $0.11 per share.
Joseph F. Fadool, 58, has been executive vice president and chief operating officer since July 2024 and will become president and CEO effective February 6, 2025.
Fadool's base salary will be $1,250,000, with a target annual bonus of $1,875,000 (150% of base salary) and a 2025 long-term incentive target of $8,125,000 (650% of base salary).
During the transition period through August 30, 2025, Lissalde's base salary will be reduced to 67% of his prior level.
Quarterly dividend of $0.11 per share is payable December 16, 2024 to stockholders of record on December 2, 2024.
Vericel reported third-quarter 2024 total revenue of $57.9 million, up 27%, and a net loss of $0.9 million, or $0.02 per diluted share, compared with a $3.7 million loss a year earlier. The company raised its full-year profitability guidance to a 72% gross margin and 22% adjusted EBITDA margin, while keeping its full-year revenue guidance of $238 to $242 million, so shareholders see stronger margins but the company still reported a net loss.
Q3 total revenue of $57.9 million, up from $45.6 million; MACI revenue $44.7 million and Burn Care revenue $13.2 million
Q3 gross margin of 72%, up from 67%; operating expenses rose to $44.1 million from $35.7 million
Q3 net loss of $0.9 million, or $0.02 per diluted share, versus $3.7 million, or $0.08 per share, in Q3 2023
Full-year profitability guidance raised to 72% gross margin and 22% adjusted EBITDA margin, from 71% and 21%; revenue guidance maintained at $238 to $242 million
Under Armour reported second-quarter fiscal 2025 results for the quarter ended September 30, 2024, with revenue down 11% to $1.4 billion and GAAP net income of $170 million, compared with $105 million a year earlier. The company raised its fiscal 2025 profit outlook, narrowing the expected operating loss to $176 million to $196 million from $220 million to $240 million, while also increasing marketing investment by about $25 million.
Net revenues fell 10.7% to $1,399 million; North America revenue decreased 12.9% to $863 million.
Diluted EPS was $0.39 on a GAAP basis and $0.30 adjusted, versus $0.23 GAAP a year earlier.
Fiscal 2025 operating loss outlook is $176 million to $196 million, versus the prior $220 million to $240 million.
Cash and cash equivalents totaled $531 million at quarter end, with no borrowings under the $1.1 billion revolving credit facility.
N-able reported third-quarter 2024 revenue of $116.4 million, up 8.3% year over year, and GAAP net income of $10.8 million, compared with $6.0 million a year earlier. The company raised its full-year 2024 adjusted EBITDA margin outlook to 37% and set a full-year revenue outlook midpoint of $462 million, which matters to shareholders because it signals stronger profitability and a clearer view of the year's results.
Q3 2024 total revenue was $116.4 million, up 8.3% year over year, or 7.3% on a constant currency basis.
GAAP net income was $10.8 million, or $0.06 per diluted share; non-GAAP net income was $24.3 million, or $0.13 per diluted share.
Adjusted EBITDA was $44.8 million, up 22.7% year over year, with a 38.5% margin.
Q4 2024 revenue is expected in the range of $111.5 million to $113.0 million; full-year 2024 adjusted EBITDA is expected in the range of $169.3 million to $169.8 million, about 37% of revenue.
Bentley Systems reported third-quarter 2024 revenue of $335.2 million, up 9.3% year over year, while GAAP diluted earnings per share fell to $0.13 from $0.16. The CFO said 2024 total revenue is expected at the lower end of the annual outlook range, though the company expects an increased cash flow outlook for the year.
Q3 2024 total revenues were $335.2 million, up 9.3% (9.1% in constant currency) from a year earlier.
Q3 GAAP diluted EPS was $0.13 versus $0.16; adjusted EPS was $0.24 versus $0.22.
CFO Werner Andre said 2024 total revenue growth is expected at the lower end of the annual outlook range, citing declines in Cohesive professional services for Maximo.
On October 18, 2024, the company entered into a five-year $1.3 billion revolving credit facility with a $500 million accordion feature.
Rockwell Automation reported fiscal fourth-quarter 2024 sales of $2,036 million, down 21% from a year earlier, and diluted EPS of $2.09, down 20%. Full-year fiscal 2024 sales were $8,264 million, down 9%, and diluted EPS was $8.28, down 31%. The company also issued fiscal 2025 guidance of reported sales growth between a 4% decline and 2% growth, with the CEO saying fiscal first-quarter sales are expected to be down from fourth-quarter levels.
Q4 fiscal 2024 sales $2,036 million vs. $2,563 million a year earlier; adjusted EPS $2.47, down 32%
Full-year fiscal 2024 sales $8,264 million, down 9%; diluted EPS $8.28 vs. $11.95 in fiscal 2023
Fiscal 2025 guidance: reported sales growth of (4)% to 2%; diluted EPS $7.65 to $8.85; adjusted EPS $8.60 to $9.80
Total ARR grew 16% year over year; the company repurchased $594 million of stock in fiscal 2024
Steven Madden reported third-quarter 2024 revenue up 13.0% to $624.7 million, but GAAP diluted EPS fell to $0.77 from $0.87 as operating income declined. The company raised its 2024 revenue growth and EPS outlook and declared a $0.21 quarterly dividend, so shareholders get higher guidance alongside lower reported profit.
Q3 revenue rose 13.0% to $624.7 million from $552.7 million; GAAP net income attributable to the company was $55.3 million, or $0.77 per diluted share, versus $0.87 a year earlier
Adjusted diluted EPS was $0.91 versus $0.88; the GAAP decline reflects an $8.6 million pre-tax trademark impairment in the quarter
2024 guidance now calls for revenue growth of 13% to 14% and GAAP diluted EPS of $2.36 to $2.41 (Adjusted $2.62 to $2.67)
Quarterly dividend of $0.21 per share is payable December 27, 2024, to holders of record on December 13, 2024
Warby Parker reported third-quarter 2024 net revenue of $192.4 million, up 13.3% year over year, and a GAAP net loss of $4.1 million, down from $17.4 million a year earlier. The company raised its full-year 2024 net revenue and Adjusted EBITDA guidance, which matters to shareholders because it signals stronger expected growth and profitability for the year.
Q3 net revenue was $192.4 million, up 13.3% from the prior year period
GAAP net loss narrowed to $4.1 million from $17.4 million; Adjusted EBITDA rose to $17.3 million, a 9.0% margin
2024 net revenue guidance raised to $765 million to $768 million, growth of about 14% to 15%
2024 Adjusted EBITDA guidance of about $73 million at the revenue midpoint, on a 9.5% margin; 40 new stores planned for the year
Tapestry reported fiscal first-quarter 2025 revenue of $1.51 billion, roughly flat year over year. Reported diluted EPS fell to $0.79 from $0.84, while non-GAAP diluted EPS rose to $1.02 from $0.93, after $0.23 per share of acquisition-related costs. The company raised its fiscal 2025 non-GAAP EPS outlook to $4.50 to $4.55 from $4.45 to $4.50.
Net sales were $1.51 billion, approximately flat versus the prior year on both reported and constant currency bases; Coach sales rose 1%.
Reported net income was $187 million, or $0.79 per diluted share, versus $195 million, or $0.84, a year earlier.
Non-GAAP diluted EPS was $1.02 versus $0.93; acquisition costs, mainly financing and professional fees tied to the proposed Capri Holdings acquisition, reduced EPS by $0.23.
Fiscal 2025 non-GAAP EPS guidance is $4.50 to $4.55; the quarterly dividend is $0.35 per share, payable December 23, 2024.
Wolverine World Wide reported third-quarter 2024 results on November 7, 2024. Reported revenue fell 16.6% to $440.2 million, while diluted earnings per share rose to $0.28 from $0.11 a year earlier. The company raised its full-year 2024 revenue and EPS outlook, but its ongoing business revenue still declined 7.0% from the prior year.
Q3 2024 reported revenue of $440.2 million, down 16.6% from $527.7 million; ongoing revenue of $440.1 million, down 7.0% from $473.3 million
Diluted EPS of $0.28 vs. $0.11 a year earlier; adjusted diluted EPS of $0.29
Full-year 2024 ongoing revenue outlook raised to $1.730 to $1.745 billion from $1.71 to $1.73 billion
Full-year diluted EPS outlook raised to $0.56 to $0.66 from $0.53 to $0.63; net debt at quarter end was $563 million, down $373 million year over year
Dynatrace reported fiscal second-quarter 2025 revenue of $418 million, up 19% from a year earlier, with GAAP earnings of $0.15 per diluted share versus $0.12. The company raised its full-year fiscal 2025 total revenue guidance to $1,665 million-$1,675 million from $1,644 million-$1,658 million, which signals higher expected sales for shareholders. Quarterly free cash flow fell to $20 million from $34 million a year earlier.
Q2 total revenue of $418 million, up 19%; ARR of $1,617 million, up 20%
GAAP EPS of $0.15 vs $0.12 a year earlier; non-GAAP EPS of $0.37 vs $0.31
Fiscal 2025 total revenue guidance raised to $1,665 million-$1,675 million from $1,644 million-$1,658 million (prior guidance issued August 7, 2024)
Quarterly free cash flow of $20 million vs $34 million a year earlier; $40 million spent on share buybacks in the quarter
Elanco reported third-quarter 2024 revenue of $1,030 million, down 4% on a reported basis and up 1% organic constant currency, and adjusted EPS of $0.13 versus $0.18 a year earlier. Reported net income of $364 million was driven by a $640 million pre-tax gain on the July 2024 sale of its aqua business, but the company's adjusted results declined. It also narrowed its full-year 2024 guidance, lowering the top end of its adjusted EBITDA range and reported EPS range.
Q3 adjusted EBITDA was $163 million, down 24%, and adjusted EBITDA margin was 15.8% versus 20.0% a year earlier.
Full-year 2024 revenue guidance was narrowed to $4,420 million to $4,450 million from $4,410 million to $4,460 million.
Full-year adjusted EBITDA guidance was lowered to $900 million to $930 million from $900 million to $940 million; reported EPS guidance was cut to $0.58 to $0.64 from $0.63 to $0.71.
Fourth-quarter 2024 revenue is expected between $1.00 billion and $1.03 billion, and the company expects to provide detailed 2025 guidance in February 2025.
Murphy Oil reported third quarter 2024 net income attributable to Murphy of $139 million, or $0.93 per diluted share, down from $255 million, or $1.63, a year earlier. Revenue from production fell to $753 million from $946 million, and adjusted net income was $111 million, or $0.74 per diluted share. The company also announced that Eric M. Hambly will succeed Roger W. Jenkins as chief executive effective January 1, 2025.
Net income attributable to Murphy was $139 million, or $0.93 per diluted share, versus $255 million, or $1.63, in Q3 2023.
Revenue from production was $753 million, compared with $946 million in Q3 2023.
Murphy repurchased $194 million of stock in Q3 and has $650 million remaining under its authorization.
Eric M. Hambly will become president and CEO on January 1, 2025, succeeding Roger W. Jenkins.
Acushnet reported third-quarter 2024 net sales of $620.5 million, up 4.6% year over year, and Adjusted EBITDA of $107.4 million, up 8.7%. Net income attributable to Acushnet was $56.2 million, down 1.9%, while diluted EPS rose to $0.89 from $0.85. The company reaffirmed its full-year net sales guidance and raised the low end of its full-year Adjusted EBITDA range, which now sits at $395 million to $405 million.
Q3 net sales $620.5 million, up 4.6% (5.0% in constant currency), driven by Titleist golf clubs, which rose 18.2%
Q3 net income attributable to Acushnet $56.2 million, down 1.9%; diluted EPS $0.89 vs. $0.85 a year earlier
Full-year 2024 Adjusted EBITDA now expected at $395 million to $405 million, compared with $385 million to $405 million previously
Full-year 2024 net sales guidance of $2,450 million to $2,500 million reaffirmed; quarterly dividend of $0.215 per share payable December 20, 2024
YETI reported fiscal third-quarter 2024 results for the period ended September 28, 2024. Net sales rose 10% to $478.4 million, GAAP diluted EPS rose 35% to $0.66, and adjusted EPS rose 18% to $0.71. The company narrowed its fiscal 2024 adjusted EPS outlook to approximately $2.65, the high end of its prior $2.61 to $2.65 range.
Q3 net sales rose 10% to $478.4 million; Direct-to-consumer sales rose 8% to $280.8 million and wholesale rose 14% to $197.6 million.
Diluted EPS rose 35% to $0.66 (GAAP) and adjusted EPS rose 18% to $0.71 for the quarter.
Fiscal 2024 adjusted EPS outlook is approximately $2.65, versus a previous range of $2.61 to $2.65; adjusted sales growth outlook is approximately 9%.
Capital expenditures outlook was set at approximately $50 million, versus a previous range of $50 million to $60 million.
Privia Health reported third-quarter 2024 results on November 7, 2024, with revenue up 4.9% to $437.9 million and adjusted EBITDA up 25.8% to $23.6 million. GAAP net income fell 37.4% to $3.5 million, and GAAP diluted EPS fell to $0.03 from $0.05. The company raised its full-year 2024 guidance, with all listed metrics now at or above the high end of prior ranges.
Q3 2024 total revenue was $437.9 million, up 4.9% from $417.3 million; GAAP net income was $3.5 million versus $5.6 million a year earlier.
Adjusted EBITDA was $23.6 million, up 25.8%; non-GAAP adjusted net income per diluted share was $0.20 versus $0.17.
Full-year 2024 adjusted EBITDA guidance was raised to $85 million to $90 million, at the high end of the prior range.
Cash and cash equivalents were $422.0 million at September 30, 2024, with no debt.
RXO reported third-quarter 2024 revenue of $1.04 billion, up from $976 million a year earlier, and adjusted EBITDA of $33 million, up from $26 million. The company posted a GAAP net loss of $243 million, which included $248 million in transaction, integration, restructuring and other costs, and it completed its Coyote Logistics acquisition on September 16, 2024.
Revenue was $1.04 billion versus $976 million in Q3 2023; gross margin was 17.3% versus 17.7%.
GAAP net loss was $243 million, or $1.81 per diluted share, versus a net loss of $1 million in Q3 2023; adjusted diluted EPS was $0.05.
Q4 2024 outlook: adjusted EBITDA of $40 million to $45 million and Brokerage gross margin of 12% to 14%.
Expected annualized cost synergies from Coyote integration were raised to at least $40 million.
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