528 material Form 8-K filings that 462 companies we cover made with the SEC in January 2025, 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).
Dorian LPG said its Board declared an irregular cash dividend of $0.70 per share, returning about $30.0 million to shareholders. The company also gave preliminary, unaudited outlook figures for the quarter ended December 31, 2024, including time charter equivalent revenues of $78.7 million to $80.7 million, and will report full results on January 31, 2025.
Irregular dividend of $0.70 per share, about $30.0 million in total; record date February 5, 2025 and payment on or about February 27, 2025
Preliminary quarter ended December 31, 2024 outlook: TCE revenues of $78.7 million to $80.7 million; cash and cash equivalents of $313.5 million to $315.5 million
Long-term debt obligations expected at $569.3 million to $571.3 million; the company says the figures may change during its closing process
Full unaudited results for the quarter and year ended December 31, 2024 due before market open on January 31, 2025, with a conference call at 10:00 a.m. ET
On January 23, 2025, the fund entered a distribution agreement with ALPS Distributors to sell up to $27.5 million of common shares over time through at-the-market offerings, with UBS Securities as a sub-placement agent. Under the Investment Company Act, shares cannot be sold below net asset value, and the sales are made under an existing shelf registration.
Maximum offering size is $27,500,000 of common shares of beneficial interest, sold from time to time through ALPS Distributors.
Sub-placement agent agreement with UBS Securities LLC dated January 23, 2025.
The fund may not sell shares below current net asset value, excluding any distributing commission or discount.
Offering commenced January 23, 2025 under a prospectus supplement and a shelf registration (File No. 333-282296).
Enerpac Tool Group filed the forms of its 2024 performance share award agreements under its 2017 Omnibus Incentive Plan. The company said earlier versions filed with a May 31, 2024 Form 10-Q were not the forms actually used, and that the earlier versions lacked double-trigger vesting provisions on a change in control. The filing is a correction to exhibits and does not report a change in executive or director roles.
Corrects Exhibits 10.2, 10.3 and 10.4 to the Form 10-Q for the period ended May 31, 2024
Filed agreements include double-trigger vesting provisions for a change in control, which the prior versions did not include
Company states there were no other material changes between the prior and filed versions
Phibro Animal Health's Board appointed Joyce J. Lee as a Class II independent director, effective January 21, 2025. The appointment fills a current vacancy and raises Board membership to nine directors, six of them independent. The filing describes a board seat change and does not report any financial results or guidance.
Joyce J. Lee appointed Class II director effective January 21, 2025; expected to stand for election at the 2027 Annual Meeting
Board increases to nine directors, six of whom are independent
Lee was most recently President of Cobb Vantress LLC and previously held executive roles at Elanco, Bayer Animal Health, and Zoetis
Lee receives the same non-employee director compensation and the standard director indemnification agreement
Xcel Energy's board elected Devin Stockfish, president and CEO of Weyerhaeuser Company since 2019, as a director effective January 23, 2025, increasing the board from 13 to 14 members. The filing describes this as a board appointment with no financial results, guidance, or transaction disclosed, so it has no stated direct effect on Xcel's financial performance.
Devin Stockfish, 51, elected to the board on January 20, 2025, effective January 23, 2025, with a term expiring at the 2025 Annual Meeting of Shareholders
Board size increased from 13 to 14 directors; Stockfish named to the Finance Committee and the Operations, Nuclear, Environmental and Safety Committee
Stockfish will receive non-employee director compensation, prorated to the 2025 Annual Meeting, under the arrangement effective May 24, 2023
Glacier Bancorp reported fourth-quarter 2024 net income of $61.8 million, or $0.54 per diluted share, up from $54.3 million, or $0.49 per diluted share, a year earlier. For full-year 2024, net income fell 15% to $190 million, or $1.68 per diluted share, from $2.01 in 2023, as funding costs rose and acquisition-related expenses increased.
Q4 2024 net income was $61.8 million, up 21% from the prior quarter and up 14% from the prior year fourth quarter
Q4 2024 diluted EPS was $0.54, compared with $0.45 in the prior quarter and $0.49 a year earlier
Full-year 2024 net income was $190 million, down $32.8 million, or 15%, and diluted EPS was $1.68 versus $2.01 in 2023
The board declared a quarterly dividend of $0.33 per share, payable December 19, 2024
Sallie Mae reported fourth-quarter 2024 GAAP diluted EPS of $0.50, down from $0.72 a year earlier, as provisions for credit losses rose to $108 million from $16 million. For full-year 2024, diluted EPS rose to $2.68 from $2.41, and the company guided to 2025 diluted EPS of $3.00 to $3.10.
Q4 2024 net income attributable to common stock was $107 million, versus $164 million in Q4 2023.
Full-year 2024 net income attributable to common stock was $590 million, versus $564 million in 2023.
2025 guidance: GAAP diluted EPS of $3.00 to $3.10, private education loan originations growth of 6% to 8%, and non-interest expenses of $655 million to $675 million.
Company repurchased $250 million of shares in 2024 and had $402 million of repurchase capacity remaining as of December 31, 2024.
Columbia Banking System reported fourth-quarter 2024 net income of $143 million and diluted earnings per share of $0.68, compared with $146 million and $0.70 in the third quarter, while operating EPS rose to $0.71 from $0.69. Net interest income rose $7 million to $437 million, but non-interest income fell $16 million, and full-year 2024 net income of $533.7 million was up 53% from 2023, which shareholders may weigh against the quarter-over-quarter decline.
Q4 2024 net income was $143 million, down from $146 million in Q3 2024; diluted EPS was $0.68, versus $0.70 in Q3 and $0.45 in Q4 2023.
Operating diluted EPS, a non-GAAP measure, was $0.71 in Q4 2024 compared with $0.69 in Q3 2024.
Net interest income rose $7 million to $437 million, while non-interest income fell $16 million to $50 million, driven partly by a $6 million net fair value loss.
Full-year 2024 net income was $533.7 million and diluted EPS was $2.55, up from $1.78 in 2023; final figures will appear in the Form 10-K.
Eastern Bankshares reported fourth-quarter 2024 net income of $60.8 million, or $0.30 per diluted share, compared with a net loss of $6.2 million in the third quarter, and operating net income rose 37% to $68.3 million. The company plans to sell and reinvest about $1.2 billion of low-yielding securities by the middle of the first quarter of 2025, which it expects to produce an after-tax non-operating loss of about $200 million, already reflected in shareholders' equity, and to add about $0.13 to 2025 operating earnings per share. The board also declared a regular quarterly dividend of $0.12 per share.
Q4 2024 net income was $60.8 million, or $0.30 per diluted share, versus a net loss of $6.2 million in Q3 2024.
Operating net income was $68.3 million, or $0.34 per diluted share, up from $49.7 million in Q3 2024.
About $1.2 billion of securities to be sold and reinvested in Q1 2025, with an after-tax non-operating loss of about $200 million already reflected in shareholders' equity; expected to add about $0.13 to 2025 operating EPS.
Quarterly dividend of $0.12 per share, payable March 14, 2025, to shareholders of record on March 3, 2025.
First Financial Bankshares reported fourth-quarter 2024 net income of $62.32 million, or $0.43 per diluted share, up from $55.31 million ($0.39) in the third quarter and $45.98 million ($0.32) a year earlier. For full-year 2024, net income was $223.51 million, or $1.56 per diluted share, up 12.33 percent from $198.98 million in 2023, and the net interest margin widened to 3.67 percent in the quarter from 3.50 percent in the third quarter.
Q4 2024 net interest income was $116.12 million, up from $107.11 million in Q3 2024 and $97.51 million in Q4 2023.
Q4 2024 noninterest expense was $70.10 million, compared with $66.01 million in Q3 2024.
Provision for credit losses was $1.00 million in Q4 2024, down from $6.12 million in Q3 2024.
Total loans reached $7.91 billion at December 31, 2024, up $764.31 million from December 31, 2023.
Twilio said preliminary fourth-quarter 2024 revenue grew about 11% year over year and that it expects positive GAAP income from operations for the quarter. Non-GAAP operating income for the quarter and full year 2024 is expected to exceed the top end of its October 30, 2024 guidance ranges. The board also authorized a $2.0 billion share repurchase program running through December 31, 2027.
Q4 2024 revenue growth of approximately 11% year over year, with positive GAAP income from operations for the quarter
Non-GAAP income from operations for Q4 and full-year 2024 above the top end of the October 30, 2024 guidance ranges
Free cash flow for fiscal 2024 within the range given on October 30, 2024
$2.0 billion share repurchase program authorized January 19, 2025, expiring December 31, 2027; prior programs expired December 31, 2024
BancFirst reported fourth-quarter 2024 net income of $56.5 million, or $1.68 per diluted share, up from $48.9 million, or $1.46, a year earlier but down from $58.9 million in the third quarter. Full-year 2024 net income was $216.4 million, or $6.44 per diluted share, compared with $6.34 in 2023, and the CEO described it as record net income and record earnings per share for the fourth consecutive year. Nonaccrual loans rose to 0.72% of total loans from 0.32% a year earlier.
Q4 2024 net income $56.5 million, $1.68 diluted EPS, versus $48.9 million, $1.46 in Q4 2023 and $58.9 million in Q3 2024
Full-year 2024 net income $216.4 million, $6.44 diluted EPS, versus $212.5 million, $6.34 in 2023
Nonaccrual loans $58.0 million, or 0.72% of total loans at December 31, 2024, versus 0.32% at year-end 2023
Total assets $13.6 billion at December 31, 2024, up $1.2 billion from year-end 2023
First Financial Bancorp reported fourth quarter 2024 net income of $64.9 million, or $0.68 per diluted share, up from $52.5 million, or $0.55, in the third quarter. For the full year, diluted earnings per share fell to $2.40 from $2.69 in 2023, and net income fell to $228.8 million from $255.9 million, so shareholders saw a sequential improvement but a lower annual result.
Q4 2024 net income of $64.9 million, or $0.68 per diluted share, versus $52.5 million, or $0.55, in Q3 2024
Full-year 2024 diluted EPS of $2.40 versus $2.69 in 2023; net income of $228.8 million versus $255.9 million
Q4 adjusted EPS of $0.71 (non-GAAP); net interest margin on a fully tax-equivalent basis of 3.94%, down from 4.08% in Q3
Q4 noninterest expenses of $147.9 million included $14.3 million of tax credit writedowns
Assurant said it expects about $50 million pre-tax, or $40 million after-tax, in reportable catastrophe losses for fourth quarter 2024, which is more favorable than early estimates given on its third quarter call. The company also agreed to sell its Miami, Florida campus for $126 million, subject to buyer development approvals that could take 18 to 24 months, and it expects California wildfires to be a reportable catastrophe in first quarter 2025.
Q4 2024 reportable catastrophes expected at about $50 million pre-tax ($40 million after-tax), mainly in lender-placed within Global Housing and largely from Hurricane Milton
Miami campus sale agreement dated January 22, 2025, at a purchase price of $126 million, with a 90-day buyer due diligence period
Closing expected within 30 days after buyer receives development approvals, which could take 18 to 24 months
California wildfires expected to be a reportable catastrophe in Q1 2025; more detail planned for the February 12, 2025 earnings call
Associated Banc-Corp reported a fourth-quarter 2024 net loss available to common equity of $164 million, or $1.03 per diluted share, compared with earnings of $85 million in the prior quarter. Full-year 2024 earnings were $112 million, or $0.72 per share, down from $171 million, or $1.13 per share, in 2023, as nonrecurring losses tied to a balance sheet repositioning weighed on results; excluding those items, adjusted full-year earnings were $367 million, or $2.38 per share.
Q4 2024 loss included a $130 million loss on a mortgage portfolio sale, a $148 million net loss on a sale of investments, and a $14 million loss on prepayments of FHLB advances
Adjusted Q4 2024 earnings were $91 million, or $0.57 per common share (non-GAAP)
2025 outlook: total net interest income growth of 12% to 13%, period end total loan growth of 5% to 6%, and noninterest expense growth of 3% to 4% (adjusted for the $14 million FHLB prepayment loss)
Period end deposits were $34.6 billion at December 31, 2024, up $1.2 billion from a year earlier; CET1 capital ratio was 10.00%
SouthState reported fourth-quarter 2024 net income of $144.2 million, or $1.87 diluted earnings per share, compared with $143.2 million and $1.86 in the prior quarter and $106.8 million and $1.39 a year earlier. The company also said it completed its merger with Independent Bank Group on January 1, 2025, and declared a quarterly dividend of $0.54 per share.
Q4 2024 net income was $144.2 million and diluted EPS was $1.87, versus $1.39 in Q4 2023; adjusted diluted EPS (non-GAAP) was $1.93
Net interest income rose to $369.8 million from $351.5 million in Q3 2024
Merger with Independent Bank Group, Inc. completed January 1, 2025
Quarterly dividend of $0.54 per share payable February 14, 2025 to holders of record as of February 7, 2025
East West Bancorp reported full-year 2024 net income of $1,166 million, or $8.33 per diluted share, up from $8.18 in 2023. Fourth-quarter net income was $293 million, or $2.10 per diluted share, down from $299 million and $2.14 in the third quarter. The board raised the quarterly dividend 9% to $0.60 per share and authorized up to $300 million of additional share repurchases.
Full-year 2024 net income was $1,166 million, and diluted EPS was $8.33, versus $8.18 in 2023.
Fourth-quarter 2024 net income was $293 million, or $2.10 per diluted share, versus $299 million and $2.14 in the third quarter.
The first-quarter 2025 dividend is $0.60 per share, up from $0.55, payable February 17, 2025 to holders of record on February 3, 2025.
On January 22, 2025, the board authorized up to $300 million of additional repurchases, bringing total available authorization to $329 million.
CSX reported fourth quarter 2024 net income of $733 million, or $0.38 per diluted share, down from $882 million, or $0.45, a year earlier, as revenue fell 4% to $3.54 billion. The quarter included a $108 million non-cash goodwill impairment charge tied to Quality Carriers; excluding it, adjusted EPS was $0.42. For full year 2024, net income was $3.47 billion, or $1.79 per share, compared with $1.82 in 2023.
Q4 2024 revenue was $3.54 billion, down 4% year over year; net income was $733 million, or $0.38 per diluted share, versus $0.45 a year earlier.
A $108 million goodwill impairment charge related to Quality Carriers reduced fourth quarter results; adjusted EPS was $0.42.
Full year 2024 revenue was $14.54 billion, down 1%; EPS was $1.79 versus $1.82 in 2023.
Westamerica Bancorporation said Senior Vice President and Treasurer John “Robert” A. Thorson will retire effective January 24, 2025, after more than 35 years of service. The company named John Sousa to succeed him as Senior Vice President and Treasurer effective January 27, 2025. The change is an internal management succession that the filing does not tie to any financial result.
Robert Thorson retires as Senior Vice President and Treasurer effective January 24, 2025, after over 35 years of service
John Sousa appointed Senior Vice President and Treasurer effective January 27, 2025
Sousa joined the company in July 2024 as Vice President and Assistant Treasurer
Before joining, Sousa spent over thirteen years at Bank of the West handling investment portfolio management, wholesale funding and derivatives execution
Heritage Financial reported fourth-quarter 2024 net income of $11.9 million, or $0.34 per diluted share, up from $0.18 a year earlier and $0.33 in the third quarter. Full-year 2024 net income fell to $43.3 million, or $1.24 per diluted share, from $61.8 million, or $1.75, in 2023. The company also declared a quarterly dividend of $0.24 per share, up 4.3% from $0.23, and disclosed a $3.9 million pre-tax securities loss and BOLI restructuring costs that reduced quarterly earnings.
Q4 2024 net income $11.9 million, or $0.34 per diluted share, versus $0.18 in Q4 2023
Full-year 2024 net income $43.3 million, or $1.24 per diluted share, versus $1.75 in 2023
Pre-tax securities loss of $3.9 million and BOLI restructuring costs reduced diluted EPS by a combined $0.17 in Q4
Quarterly dividend of $0.24 per share, payable February 20, 2025, to holders of record on February 6, 2025
SL Green reported fourth-quarter 2024 net income attributable to common stockholders of $9.4 million, or $0.13 per share, compared with a net loss of $155.6 million, or $2.45 per share, a year earlier. Funds from operations (FFO) was $1.81 per share, including a $26.0 million ($0.36 per share) gain on discounted debt extinguishment at 690 Madison Avenue, and total revenues rose to $245.9 million from $211.7 million. Same-store cash net operating income fell 1.9% for the quarter, or 2.7% excluding lease termination income.
Q4 2024 FFO of $131.9 million, or $1.81 per share, versus $49.7 million, or $0.72 per share, in Q4 2023
Full-year 2024 FFO of $569.8 million, or $8.11 per share, versus $4.94 per share in 2023; full-year net income of $7.1 million, or $0.08 per share
Manhattan office leases signed in Q4 2024 carried a mark-to-market 9.0% above previous fully escalated rents
Same-store cash NOI decreased 1.9% in Q4 2024 (2.7% excluding lease termination income)
Old Republic International reported fourth-quarter 2024 diluted net income of $0.42 per share, down from $0.69 a year earlier, after $154.4 million in pretax investment losses. Excluding investment gains and losses, diluted operating income rose to $0.90 per share from $0.69, with net premiums and fees earned up 11.4% and the combined ratio improving to 92.7% from 93.3%, while the company also disclosed a special cash dividend of $2.00 per share.
Q4 2024 diluted net income of $0.42 per share vs. $0.69 in Q4 2023; investment losses cost $0.48 per share
Q4 2024 diluted net income excluding investment gains (losses) of $0.90 per share, up 30.4%
Full-year 2024 diluted net income of $3.24 per share vs. $2.10 in 2023; full-year combined ratio of 93.9% vs. 92.6%
Special cash dividend of $2.00 per share declared in Q4 and paid in January 2025; total capital returned in Q4 was $733 million
City Holding Company reported record net income of $117.1 million and diluted EPS of $7.89 for 2024, up from $114.4 million and $7.61 in 2023. Fourth-quarter net income was $28.7 million, or $1.94 per diluted share, below the third quarter's $29.8 million and $2.02, but above the $27.5 million and $1.84 in the fourth quarter of 2023. The filing also shows the net interest margin narrowing to 3.86% for 2024 from 4.01%.
2024 net income of $117.1 million versus $114.4 million in 2023; diluted EPS of $7.89 versus $7.61
Fourth-quarter 2024 net income of $28.7 million and diluted EPS of $1.94, down from $2.02 in the third quarter of 2024
Net interest margin fell to 3.86% for 2024 from 4.01% in 2023
Nonperforming assets rose to $15.0 million at December 31, 2024, from $8.6 million a year earlier, mainly due to one movie theater loan
Steel Dynamics reported fourth quarter 2024 net sales of $3.9 billion and net income of $207 million, or $1.36 per diluted share, down from $424 million, or $2.61 per diluted share, a year earlier. For full-year 2024, net income was $1.5 billion, or $9.84 per diluted share, compared with $2.5 billion, or $14.64, in 2023, which matters to shareholders because lower earnings reduce the cash available for dividends and buybacks.
Q4 2024 net sales were $3.9 billion, versus $4.2 billion in Q4 2023.
Q4 2024 net income was $207 million, or $1.36 per diluted share, versus $424 million, or $2.61, in Q4 2023.
Full-year 2024 net income was $1.5 billion, or $9.84 per diluted share, versus $14.64 in 2023; the company repurchased $1.2 billion of stock, six percent of outstanding shares.
Sinton Texas Flat Roll Steel Division posted a $58 million operating loss in Q4 2024; the company expects positive operating income contributions beginning in the first half of 2025.
Valley National Bancorp reported fourth quarter 2024 net income of $115.7 million, or $0.20 per diluted share, up from $97.9 million in the third quarter. Excluding non-core items, adjusted net income was $75.7 million, or $0.13 per share, down from $96.8 million in the third quarter, and the reported figure was helped by a $26.7 million income tax benefit. Shareholders also face higher credit costs, with a $107.0 million provision for loan credit losses and $98.3 million in net loan charge-offs.
Net income was $115.7 million, or $0.20 per diluted share, versus $97.9 million, or $0.18, in Q3 2024 and $71.6 million, or $0.13, in Q4 2023.
Adjusted net income was $75.7 million, or $0.13 per diluted share, versus $96.8 million, or $0.18, in Q3 2024.
The quarter included a $26.7 million income tax benefit, mostly from a $46.4 million reduction in uncertain tax liabilities.
Net interest margin rose 6 basis points to 2.92% from 2.86% in Q3 2024; the provision for loan credit losses was $107.0 million versus $75.0 million in Q3 2024.
PNC said President Michael P. Lyons resigned effective January 23, 2025, to take the President and CEO-elect role at Fiserv. PNC Chairman and CEO William S. Demchak said the company has built a leadership team that he is confident will keep PNC on course to become one of the largest and most successful banks in the country.
Michael P. Lyons resigned as PNC President effective January 23, 2025
Lyons joined PNC in 2011 to lead Corporate & Institutional Banking and was named president in 2024
Lyons is taking the President & CEO-Elect role at Fiserv
The filing does not describe a successor or any change to compensation arrangements
OSI Systems reported fiscal second-quarter 2025 results for the period ended December 31, 2024, with revenue up 12% year over year and GAAP diluted EPS of $2.22 versus $2.11 a year earlier. The company raised its fiscal 2025 revenue and non-GAAP diluted EPS guidance, which gives shareholders a higher outlook for the full year.
Q2 FY25 revenue was $419.8 million, up from $373.2 million a year earlier.
Q2 FY25 net income was $37.8 million, or $2.22 per diluted share, versus $36.6 million, or $2.11, a year earlier.
Non-GAAP diluted EPS was $2.42 for Q2 FY25, compared with $2.21 a year earlier.
FY2025 revenue guidance rose to $1.685 billion-$1.710 billion from $1.670 billion-$1.695 billion; non-GAAP diluted EPS guidance rose to $9.10-$9.40 from $9.00-$9.30.
First BanCorp. reported fourth-quarter 2024 net income of $75.7 million, or $0.46 per diluted share, up from $73.7 million, or $0.45 per share, in the third quarter but down from $79.5 million, or $0.46 per share, a year earlier. For the full year, net income rose to $298.7 million, or $1.81 per diluted share, from $302.9 million, or $1.71 per share, in 2023 (the full-year net income figure is slightly lower than 2023, so the per-share gain reflects a lower share count). The Board approved a 13% increase in the common stock dividend.
Q4 2024 net income $75.7 million and $0.46 per diluted share, vs. $73.7 million and $0.45 in Q3 2024 and $79.5 million and $0.46 in Q4 2023
Full-year 2024 net income $298.7 million, or $1.81 per diluted share, vs. $1.71 in 2023
Net interest margin rose to 4.33% from 4.25% in Q3 2024
Total loans grew $303.2 million to $12.8 billion; Board approved a 13% increase in the common stock dividend
Freeport-McMoRan reported fourth-quarter 2024 net income attributable to common stock of $274 million, or $0.19 per share, down from $388 million, or $0.27 per share, a year earlier. Quarterly revenue fell to $5,720 million from $5,905 million, while full-year 2024 revenue rose to $25,455 million from $22,855 million and full-year diluted EPS was $1.30 versus $1.28.
Q4 2024 net income attributable to common stock was $274 million, $0.19 per share, versus $388 million, $0.27 per share in Q4 2023; adjusted net income was $450 million, $0.31 per share, after $176 million in net charges.
Q4 2024 revenues were $5,720 million and operating income was $1,243 million, compared with $5,905 million and $1,722 million in Q4 2023.
Full-year 2024 revenues were $25,455 million and net income attributable to common stock was $1,889 million, compared with $22,855 million and $1,848 million in 2023.
For 2025, operating cash flows are expected to approximate $6.2 billion, against $7.2 billion for 2024, based on stated price assumptions.
MarineMax reported fiscal 2025 first-quarter results for the quarter ended December 31, 2024, with revenue down 11.2% and same-store sales down 11% amid a soft retail market and Hurricanes Helene and Milton. GAAP net income rose to $18.1 million, but that figure reflected a large contingent consideration adjustment, while adjusted diluted EPS fell to $0.17 from $0.19. The company reaffirmed its fiscal 2025 adjusted EPS and adjusted EBITDA guidance.
Revenue fell 11.2% to $468.5 million from $527.3 million; same-store sales decreased 11%.
Net income was $18.1 million, or $0.77 per diluted share, including a $25.8 million change in fair value of contingent consideration; adjusted diluted EPS was $0.17 versus $0.19 a year earlier.
Adjusted EBITDA was $26.1 million versus $26.6 million in the prior-year quarter; gross margin rose 290 basis points to 36.2%.
Fiscal 2025 guidance reaffirmed: adjusted EPS of $1.80 to $2.80 and adjusted EBITDA of $150 million to $180 million.
AZZ Inc. appointed Jeff Vellines as President and Chief Operating Officer of its Precoat Metals segment, effective March 1, 2025, and moved Kurt Russell, the segment's current COO, into a newly created Senior Vice President and Chief Strategic Officer role. The filing describes the changes as part of succession planning and the company's strategic growth plan, and it discloses Vellines's fiscal 2026 pay package.
Jeff Vellines's fiscal 2026 base salary is $435,000, with a 70% target short-term incentive and equity targets based on 100% of base salary.
Kurt Russell moves to Senior Vice President and Chief Strategic Officer, focusing on growth initiatives, effective March 1, 2025.
Vellines's role expands to include Russell's former Precoat Metals COO duties, per CEO Tom Ferguson.
The board made the appointment on January 16, 2025; the company announced the changes in a press release dated January 23, 2025.
Dime Community Bancshares reported a net loss available to common stockholders of $22.2 million, or $(0.54) per diluted share, for the quarter ended December 31, 2024, compared with net income of $11.5 million, or $0.29 per share, in the prior quarter. The loss reflected a $42.8 million pre-tax loss on the sale of securities and $9.1 million of income tax expense tied to the surrender of legacy BOLI assets, even as net interest income rose to $91.1 million. For full-year 2024, net income available to common stockholders was $21.8 million, or $0.55 per diluted share, down from $88.8 million, or $2.29, in 2023.
Q4 2024 net loss available to common stockholders was $22.2 million, or $(0.54) per diluted share, versus net income of $11.5 million, or $0.29, in Q3 2024.
Net interest income rose to $91.1 million from $79.9 million in Q3 2024; net interest margin was 2.79%, up from 2.50%.
Q4 2024 included a $42.8 million pre-tax loss on sale of securities and $9.1 million of income tax expense related to the BOLI surrender.
Full-year 2024 net income available to common stockholders was $21.8 million, or $0.55 per diluted share, compared with $88.8 million, or $2.29, in 2023.
Atlantic Union Bankshares reported fourth-quarter 2024 net income available to common shareholders of $54.8 million, or $0.60 per diluted share, and full-year net income of $197.3 million, or $2.24 per diluted share. Quarterly results were weighed down by merger-related costs and a $13.1 million specific reserve on one impaired commercial loan, which raised the provision for credit losses to $17.5 million from $2.6 million in the prior quarter.
Q4 2024 net income available to common shareholders was $54.8 million; adjusted diluted operating EPS was $0.67
Provision for credit losses was $17.5 million in Q4 2024, versus $2.6 million in Q3 2024, driven by a $13.1 million specific reserve
Nonperforming assets rose to $58.4 million at December 31, 2024, from $37.3 million at September 30, 2024
Management will discuss results on a webcast and conference call at 9:00 a.m. Eastern Time on January 23, 2025
Northern Trust reported fourth-quarter 2024 diluted earnings per share of $2.26, up from $2.22 in the third quarter and $0.52 in the fourth quarter of 2023. Net income was $455.4 million, slightly below the prior quarter but well above the prior-year quarter, and total revenue was flat sequentially and up 26% from a year earlier.
Q4 2024 net income of $455.4 million, down 2% from $464.9 million in Q3 2024 and up from $113.1 million in Q4 2023.
Total revenue (FTE) of $1,970.1 million, flat from Q3 2024 and up 26% from Q4 2023.
Trust, investment and other servicing fees of $1,222.2 million, up 2% sequentially and 12% from Q4 2023.
About $402.8 million returned to common shareholders through dividends and share repurchases, including 2,377,482 shares bought at an average of $106.70.
American Airlines reported record fourth-quarter revenue of $13.7 billion and GAAP net income of $590 million, or $0.84 per diluted share, compared with $19 million a year earlier. For full-year 2024, adjusted diluted EPS fell to $1.96 from $2.65, and the company guided to a first-quarter 2025 adjusted loss of $0.20 to $0.40 per diluted share, with full-year 2025 adjusted EPS of $1.70 to $2.70.
Q4 2024 total operating revenues were $13.7 billion, up 4.6% from $13.1 billion in Q4 2023.
Q4 2024 GAAP net income was $590 million ($0.84 diluted EPS); excluding net special items, adjusted diluted EPS was $0.86 versus $0.29 a year earlier.
Full-year 2024 adjusted diluted EPS was $1.96, down from $2.65 in 2023; full-year free cash flow was a record $2.2 billion.
Guidance: first-quarter 2025 adjusted loss of $0.20 to $0.40 per diluted share; full-year 2025 adjusted EPS of $1.70 to $2.70.
Banc of California reported fourth-quarter 2024 net earnings available to common stockholders of $47.0 million, or $0.28 per diluted share, compared with a third-quarter loss of $1.2 million, or $0.01 per share. The improvement was driven mainly by a net interest margin of 3.04%, up 11 basis points from the prior quarter, and lower noninterest expenses, while delinquent loans rose to $180.2 million.
Q4 2024 net earnings available to common stockholders: $47.0 million, or $0.28 per diluted share, versus a Q3 2024 loss of $1.2 million, or $0.01 per share
Full-year 2024 net income available to common stockholders: $87.1 million, or $0.52 per diluted share; adjusted basis $135.4 million, or $0.80 per share
Net interest margin of 3.04%, up 11 basis points from Q3 2024 and 135 basis points year over year; noninterest expense fell 7.6% from Q3 to $181.4 million
Total delinquent loans rose to $180.2 million at December 31, 2024, from $125.0 million at September 30, 2024; nonperforming assets were $199.3 million
CVB Financial Corp. reported fourth-quarter 2024 net earnings of $50.9 million, or $0.36 per diluted share, up from $48.5 million and $0.35 a year earlier but slightly below the third quarter's $51.2 million. For full-year 2024, net earnings were $200.7 million, or $1.44 per share, down from $221.4 million and $1.59 in 2023, as lower net interest income and securities losses weighed on results.
Q4 2024 net earnings $50.9 million, $0.36 diluted EPS, versus $0.35 in Q4 2023 and $0.37 in Q3 2024
Full-year 2024 net earnings $200.7 million, $1.44 diluted EPS, versus $221.4 million and $1.59 in 2023
Q4 2024 net interest income $110.4 million, down $8.9 million from Q4 2023; net interest margin 3.18%
Board authorized a 10 million share repurchase program in Q4 2024; no shares were repurchased in the quarter
Elevance Health reported fourth quarter 2024 operating revenue of $45.0 billion, up 6% from a year earlier, but diluted EPS fell to $1.81 from $3.63 and adjusted diluted EPS fell to $3.84 from $5.62. The company also projected 2025 adjusted diluted EPS of $34.15 to $34.85 and raised its quarterly dividend 5% to $1.71 per share, which matters to shareholders because it shows the company's near-term earnings outlook and cash returns.
Q4 2024 operating revenue was $45.0 billion, up 6%; benefit expense ratio rose to 92.4% from 89.2%, driven mainly by higher Medicaid medical cost trends.
Full year 2024 diluted EPS was $25.68, up 1.8%; adjusted diluted EPS was $33.04, down 0.3%.
Projected 2025 GAAP diluted EPS is $30.40 to $31.10 and adjusted diluted EPS is $34.15 to $34.85.
The first quarter 2025 dividend is $1.71 per share, payable March 25, 2025, up 5% from $1.63.
Texas Capital Bancshares reported fourth quarter 2024 net income available to common stockholders of $66.7 million, or $1.43 per diluted share, compared with a net loss of $65.6 million in the third quarter, which included a $179.6 million loss on securities sales. For full year 2024, net income available to common stockholders fell to $60.3 million, or $1.28 per diluted share, from $171.9 million, or $3.54, in 2023. The board also authorized a share repurchase of up to $200.0 million through January 31, 2026.
Q4 2024 net income available to common stockholders was $66.7 million, or $1.43 per diluted share, versus a $65.6 million loss, or $1.41 per share, in Q3 2024 and $15.8 million, or $0.33, in Q4 2023.
Full year 2024 diluted EPS was $1.28 versus $3.54 in 2023; the company's adjusted full year EPS was $4.43 versus $3.85, a non-GAAP measure.
Q4 2024 net interest margin was 2.93%, down 23 basis points from Q3 2024.
On January 22, 2025, the board authorized a new buyback of up to $200.0 million through January 31, 2026, ending the remaining authorization under the January 17, 2024 program.
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