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).
Houlihan Lokey reported results for the fiscal third quarter ended December 31, 2024, with revenues of $634 million, up from $511 million a year earlier. Diluted EPS was $1.39 on a GAAP basis, compared with $1.04, and adjusted diluted EPS was $1.64, compared with $1.22. The company also declared a quarterly dividend of $0.57 per share, which is payable March 15, 2025.
Revenues were $634 million versus $511 million in the same quarter last year.
GAAP diluted EPS was $1.39 versus $1.04; adjusted diluted EPS was $1.64 versus $1.22.
Corporate Finance revenues rose 36% to $422 million; Financial Restructuring rose 2% to $131 million; Financial and Valuation Advisory rose 14% to $82 million.
Quarterly dividend of $0.57 per share is payable March 15, 2025 to holders of record on March 3, 2025.
Carlisle Companies Incorporated elected Sheryl D. Palmer to its Board of Directors on January 28, 2025, fixing the board at 11 directors. The Board determined she is independent under New York Stock Exchange and SEC rules, and she received 111 restricted shares as part of the standard non-employee director compensation.
Palmer's term expires at the company's 2026 annual meeting of stockholders
Board size fixed at 11 directors following the election
Initial restricted stock award of 111 shares with a grant-date fair value of approximately $43,750
Palmer is President, CEO and Chairman of Taylor Morrison Home Corporation, per the press release
Navient posted a strategy update presentation on its website on January 29, 2025, describing Phase 1 of a turnaround focused on cost reductions and capital allocation. The company estimates Phase 1 will cut shared and corporate expense by $119 million and lift legacy loan portfolio cash flows by about $1.5 billion, which it says could add about $1 per share in annual net income. Management plans a Phase 2 update in the second half of 2025, and these benefits are company estimates, not reported results.
Phase 1 reduces net shared and corporate expense from $323 million in 2023 to $204 million in 2025, a $119 million reduction, after the divestiture of the Business Processing Segment and outsourcing of loan servicing.
Estimated lifetime cash flow from legacy loan portfolios rises by about $1.5 billion, and net income rises by about $1 per share annually.
Navient's price to tangible book value is 0.6x, against a peer average of 2.2x, according to FactSet data as of January 14, 2025.
A Phase 2 strategy update is expected in the second half of 2025.
Navient reported fourth-quarter 2024 results, with GAAP net income of $24 million ($0.22 diluted earnings per share) compared with a net loss of $28 million a year earlier. On a Core Earnings basis, the company posted a $25 million loss ($0.24 diluted loss per share), and full-year 2024 GAAP net income fell to $131 million from $228 million. Shareholders are affected by a $68 million pre-tax reduction from significant items and by the planned first-quarter 2025 sale of the government services business.
Q4 2024 GAAP net income was $24 million, or $0.22 per diluted share, versus a $28 million loss in Q4 2023.
Q4 2024 Core Earnings loss was $25 million, or $0.24 per diluted share; significant items reduced pre-tax income by $68 million.
Full-year 2024 GAAP net income was $131 million ($1.18 per diluted share), down from $228 million in 2023.
Navient repurchased $65 million of common shares in Q4 2024, with $111 million of repurchase authority remaining.
Packaging Corporation of America reported fourth quarter 2024 net income of $221 million, or $2.45 per diluted share, up from $189 million, or $2.10, a year earlier. Full year 2024 net income was $805 million, or $8.93 per share, compared with $765 million, or $8.48, in 2023. The company expects first quarter 2025 earnings of $2.21 per share, below its fourth quarter result.
Q4 2024 net sales were $2.1 billion, compared with $1.9 billion in Q4 2023; full year net sales were $8.4 billion, versus $7.8 billion in 2023.
Q4 2024 diluted EPS excluding special items was $2.47, versus $2.13 a year earlier; full year EPS excluding special items was $9.04, versus $8.70.
Management expects first quarter 2025 earnings of $2.21 per share, citing rail rate increases, higher labor and benefits costs, and scheduled mill outages at Counce, TN and Valdosta, GA.
Q4 2024 results were equal to the company's fourth quarter guidance.
Southside Bancshares reported fourth-quarter 2024 net income of $21.8 million, up 25.8% from a year earlier, with diluted earnings per share of $0.71 versus $0.57. For the full year, net income rose 2.1% to $88.5 million and diluted earnings per share reached $2.91. Net interest margin fell to 2.70% in the quarter, and management said it expects margin to increase during 2025.
Q4 2024 net income was $21.8 million, up $4.5 million, or 25.8%, from $17.3 million in Q4 2023.
Q4 2024 diluted EPS was $0.71, compared with $0.57 a year earlier.
Full-year 2024 net income was $88.5 million, up 2.1%, and diluted EPS was $2.91.
Net interest margin decreased to 2.70% from 2.83% a year earlier, and net interest income was $53.7 million, down 1.4%.
Central Pacific Financial Corp. appointed Dr. Diane S.L. Paloma, President and CEO of Hawaii Dental Service (HDS), to the boards of the company and Central Pacific Bank, effective January 28, 2025, and increased both boards to twelve directors. The filing also discloses that the bank paid approximately $390,000 to HDS in 2024 for its employee dental plan, and states that Dr. Paloma has no involvement in the bank's negotiation of that plan.
Dr. Diane S.L. Paloma appointed to both boards effective January 28, 2025; board size increased to twelve directors
Annual retainer of $125,000 for serving on both boards, consistent with other non-employee directors who do not chair committees
Dr. Paloma to serve on the Bank's Board Trust Committee
Bank paid approximately $390,000 to HDS in 2024 for its employee dental plan
First Commonwealth Financial reported fourth-quarter 2024 net income of $35.8 million, or $0.35 per diluted share, down from $44.8 million, or $0.44 per share, in the fourth quarter of 2023 but up from $32.1 million in the third quarter of 2024. For the full year, net income was $142.6 million, or $1.39 per share, compared with $157.1 million, or $1.54 per share, in 2023. The company also declared a quarterly dividend of $0.13 per share, which is 4.0% above the fourth quarter of 2023.
Q4 2024 net income $35.8 million, $0.35 diluted EPS, versus $44.8 million, $0.44 in Q4 2023 and $32.1 million, $0.31 in Q3 2024
Full-year 2024 net income $142.6 million, $1.39 diluted EPS, versus $157.1 million, $1.54 in 2023
Quarterly cash dividend of $0.13 per share, payable February 21, 2025 to shareholders of record as of February 7, 2025
Q4 2024 net charge-offs of $13.7 million, up from $8.8 million in Q3 2024; conference call scheduled for January 29, 2025 at 2:00 PM ET
Axos Financial entered an Equity Distribution Agreement on January 28, 2025, allowing it to sell common stock worth up to $150 million through KBW and Raymond James as sales agents. Sales would be made at market prices on the New York Stock Exchange, and the company would pay the agents a 2.5% commission on gross proceeds, so the deal could add new shares and dilute existing holders if used.
Agreement covers common stock with an aggregate offering price of up to $150,000,000, sold from time to time
Minimum amount per calendar quarter designated to one agent is $5,000,000
Distribution Agents receive a commission equal to 2.5% of gross proceeds
Company may suspend or terminate the offering, and the filing does not state any shares sold yet
NetApp announced that Wissam Jabre, formerly CFO of Western Digital, will become Executive Vice President and Chief Financial Officer effective March 10, 2025, replacing Michael J. Berry, who previously announced his retirement. Berry will stay on as a senior advisor to help with the transition. The change puts a new principal financial officer in charge of NetApp's finances, with compensation terms set out in the filing.
Wissam Jabre, age 55, becomes EVP and CFO effective March 10, 2025, replacing Michael J. Berry
Jabre's base salary is $750,000, with a 130% annual incentive target
Jabre will receive a $6,565,500 bonus, subject to repayment if he leaves within 24 months
RenaissanceRe reported a fourth-quarter 2024 net loss attributable to common shareholders of $198.5 million, or $(3.95) per diluted share, compared with net income of $1.58 billion in the fourth quarter of 2023. For full-year 2024, net income attributable to common shareholders was $1.8 billion ($35.21 per diluted share), down from $2.5 billion in 2023, while operating income rose to $2.2 billion. The company also estimated a pre-tax net negative impact of approximately $750 million from the California wildfires in the first quarter of 2025.
Q4 2024 net loss of $198.5 million, or $(3.95) per diluted share, versus net income of $1.58 billion in Q4 2023
Full-year 2024 net income of $1.8 billion ($35.21 per diluted share) versus $2.5 billion in 2023; operating income of $2.2 billion ($42.99 per diluted share) versus $1.8 billion
Hurricane Milton had a net negative impact of $270.5 million on Q4 2024 net income
Estimated pre-tax net negative impact of approximately $750 million from the California wildfires in Q1 2025, based on a $50 billion aggregate industry insured loss
Trustmark reported fourth-quarter 2024 net income of $56.3 million, or $0.92 per diluted share, up $5.0 million from the prior quarter and up from $36.1 million a year earlier. The Board raised the regular quarterly dividend 4.3% to $0.24 per share and the company resumed share repurchases, buying back $7.5 million of stock in the quarter, which the company says reflects improved profitability and capital levels.
Q4 2024 net income $56.3 million, diluted EPS $0.92, up from $0.84 in Q3 2024 and $0.59 in Q4 2023 (total EPS)
Full-year 2024 net income from adjusted continuing operations was $186.3 million, or $3.04 per diluted share, up 17.0% from the prior year
Quarterly dividend increased to $0.24 from $0.23, payable March 15, 2025, to holders of record on March 1, 2025
A $100.0 million repurchase program is authorized from January 1 through December 31, 2025; deposits fell 3.0% year over year to $15.1 billion
BXP, Inc. reported a fourth-quarter 2024 net loss attributable to BXP of $230.0 million, or $1.45 per diluted share, compared with net income of $83.6 million, or $0.53 per share, in the prior quarter. The loss reflects impairment charges of about $341.3 million on investments in three unconsolidated joint ventures, while diluted FFO per share declined slightly to $1.79 from $1.81. Shareholders should note the impairment-driven loss and the 2025 guidance of $6.77 to $6.95 in diluted FFO per share.
Q4 2024 net loss attributable to BXP, Inc. of $230.0 million, or $1.45 per diluted share, versus $0.53 per share in Q3 2024
Impairment charges of about $341.3 million related to three unconsolidated joint ventures
Q4 2024 total revenue of $858.6 million versus $859.2 million in Q3 2024; diluted FFO per share of $1.79 versus $1.81
2025 guidance: full-year diluted FFO per share of $6.77 to $6.95 and first-quarter 2025 diluted FFO per share of $1.63 to $1.65
On January 22, 2025, Weyerhaeuser's Compensation Committee approved new forms of terms and conditions for future performance share unit and restricted stock unit awards to executive officers under its 2022 Long-Term Incentive Plan. The forms are filed as exhibits to the 8-K, so shareholders can review how future executive equity awards will be structured.
Compensation Committee approved the new award forms on January 22, 2025.
Awards cover performance share units (Exhibit 10.1) and restricted stock units (Exhibit 10.2).
Awards may be granted to executive officers under the 2022 Long-Term Incentive Plan.
Filing was signed by Kristy T. Harlan, Senior Vice President, General Counsel and Corporate Secretary, on January 28, 2025.
Getty Realty entered a Third Amended and Restated Credit Agreement on January 23, 2025, with Bank of America, N.A. as administrative agent, increasing its revolving credit facility to $450.0 million. The company used borrowings under the facility to repay its $150 million senior unsecured term loan due October 2025, and the facility now matures January 23, 2029. The filing describes this as a refinancing with the same underlying terms, and it adds borrowing capacity and covenants that shareholders should weigh.
Revolving credit facility increased to $450.0 million, with an accordion feature for up to an additional $300.0 million, subject to conditions.
Facility matures January 23, 2029, with two six-month extension options at the company's option, for a total of 12 months.
Proceeds used to repay the $150 million senior unsecured term loan that was due October 2025; the amount stays drawn and is hedged by swaps fixing SOFR at 4.73% until October 2026 or repayment.
CFO Brian Dickman said the company now has no debt maturities until June 2028.
Kimberly-Clark said Andrew Scribner, currently Chief Financial Officer of Kimberly-Clark North America, will become Vice President and Controller on June 1, 2025. The current Controller, Andrew S. Drexler, will move to a transitional role and retire on June 6, 2025. The filing says Scribner's compensation has not yet been determined and will be disclosed in a future amendment.
Andrew Scribner, 46, to be elected Vice President and Controller effective June 1, 2025
Andrew S. Drexler moves to a transitional role on June 1 and begins retirement on June 6, 2025
Scribner has been CFO of Kimberly-Clark North America since January 2023
Compensation for the Controller role has not yet been determined
Clorox said Chief Financial Officer Kevin Jacobsen will retire effective April 1, 2025, after nearly 30 years with the company, and will advise through June 2025. Treasurer Luc Bellet, a Clorox employee since 2006, was appointed to succeed him as Executive Vice President and Chief Financial Officer effective the same day. The filing discloses a planned leadership transition with no financial results or guidance changes.
Kevin Jacobsen retires as CFO effective April 1, 2025; advisory role until June 2025
Luc Bellet, age 46, appointed EVP and CFO effective April 1, 2025; currently Vice President and Treasurer since October 2023
Bellet's base salary set at $725,000, with short-term incentive target raised from 50% to 100% of salary
Bellet to receive restricted stock units with $400,000 aggregate fair value and performance shares with $600,000 target fair value
Stride reported second-quarter fiscal 2025 revenue of $587.2 million, up 16.3%, and net income of $96.4 million, or $2.03 per diluted share, compared with $1.54 a year earlier. The company raised its full-year fiscal 2025 revenue forecast to $2.320 billion to $2.355 billion and its adjusted operating income forecast to $430 million to $450 million, which points to continued growth for shareholders.
Revenue of $587.2 million for the quarter ended December 31, 2024, compared with $504.9 million a year earlier
Net income of $96.4 million, or $2.03 per diluted share, versus $66.8 million, or $1.54 per diluted share
Full-year fiscal 2025 revenue outlook raised to $2.320 billion to $2.355 billion; adjusted operating income outlook of $430 million to $450 million
Second-quarter enrollments averaged 230.6K, up 19.4% from 193.1K a year earlier
Hanmi Financial reported fourth-quarter 2024 net income of $17.7 million, or $0.58 per diluted share, up from $14.9 million, or $0.49, in the third quarter of 2024. Full-year 2024 net income was $62.2 million, or $2.05 per diluted share, down from $80.0 million, or $2.62, in 2023, so the sequential quarterly gain did not offset the annual decline for shareholders.
Q4 2024 net interest margin rose 17 basis points to 2.91%, and net interest income rose 6.8% from Q3 to $53.4 million.
Full-year 2024 net interest income was $202.8 million, down 8.4% from $221.3 million in 2023.
Q4 2024 net income of $17.7 million compared with $18.6 million in Q4 2023.
Nonperforming assets were 0.19% of total assets at December 31, 2024, down from 0.21% at September 30, 2024.
CFO Shaun P. Mara notified the company on January 27, 2025, that he will retire effective July 3, 2025, and will remain CFO until then. The company hired Christopher J. Bealer, whose most recent executive role was EVP Corporate Controller at Reckitt, as Senior Vice President of Finance effective April 1, 2025, and he is expected to succeed Mara as CFO on July 3. The planned transition gives shareholders a roughly three-month overlap period before the handover.
Shaun P. Mara will retire as CFO effective July 3, 2025, and resign from all company positions then.
Christopher J. Bealer starts as Senior Vice President of Finance on April 1, 2025, and is expected to become CFO on July 3, 2025.
Bealer has almost 23 years of consumer packaged goods experience and most recently led a global team of over 600 employees at Reckitt.
At the January 23, 2025 annual meeting, all 11 director nominees were elected, and Deloitte & Touche LLP was ratified as auditor with 94,462,324 votes for.
Floor & Decor appointed Bradley Paulsen, currently CEO of North America for Rentokil Initial plc, as President effective April 28, 2025, reporting to CEO Tom Taylor. President Trevor Lang's retirement is now set for March 1, 2025, with no severance and unvested equity forfeited, so the filing shows a planned leadership transition at the top of the management team.
Trevor S. Lang, President, retires March 1, 2025; he will receive no severance and unvested equity awards will be forfeited.
Bradley Paulsen, age 49, joins as President effective April 28, 2025, reporting to CEO Tom Taylor.
Paulsen's employment agreement provides an initial base salary of $800,000, a 100% target annual cash incentive, a $1.6 million sign-on bonus and a $3.7 million long-term equity award to be granted May 5, 2025.
Paulsen previously was CEO, North America at Rentokil Initial plc and CEO of Rexel USA, and spent nine years at The Home Depot.
Darden Restaurants director Nana Mensah notified the company on January 27, 2025 that he will retire from its Board of Directors effective January 28, 2025. The filing states his departure is not the result of any disagreement with the company, the Board or management about operations, policies or practices.
Nana Mensah notified Darden of his retirement from the Board on January 27, 2025.
Retirement is effective January 28, 2025.
The filing states there was no disagreement with the company, the Board or management.
Axos Financial reported fiscal second-quarter net income of $104.7 million, or $1.80 per diluted share, for the quarter ended December 31, 2024, down from $151.8 million and $2.62 a year earlier. The prior-year period included a $92.4 million one-time gain on the FDIC Loan Purchase, while net interest income rose 22.5%, and non-GAAP adjusted EPS increased 13.8% to $1.82.
Net income was $104.7 million and diluted EPS was $1.80, versus $151.8 million and $2.62 for the quarter ended December 31, 2023.
The prior-year quarter included a $92.4 million gain on the FDIC Loan Purchase.
Adjusted EPS (non-GAAP) rose 13.8% to $1.82 from $1.60.
Net interest income rose 22.5% to $280.1 million, while non-interest income fell to $27.8 million from $124.1 million.
F5 reported first-quarter fiscal 2025 revenue of $766 million, up 11% from $693 million a year earlier, and GAAP net income of $166 million, or $2.82 per diluted share, compared with $2.32 a year earlier. The company raised its fiscal 2025 revenue growth expectation to 6% to 7% from 4% to 5%, and its non-GAAP earnings per share growth expectation to 6.5% to 8.5% from 5% to 7%.
Revenue reached $766 million, up from $693 million; software revenue rose 22%, systems revenue rose 18%, and global services revenue rose 3%.
GAAP earnings were $2.82 per diluted share versus $2.32; non-GAAP earnings were $3.84 per diluted share versus $3.43.
Fiscal 2025 revenue growth guidance was raised to 6% to 7%, up from 4% to 5%.
Second-quarter fiscal 2025 guidance calls for revenue of $705 million to $725 million and non-GAAP earnings of $3.02 to $3.14 per diluted share.
Nextracker reported fiscal third-quarter 2025 results for the period ended December 31, 2024. Revenue fell year over year to $679 million and GAAP diluted EPS fell to $0.79 from $0.87, while adjusted diluted EPS rose to $1.03 from $0.96; the company raised its FY25 profit outlook and reaffirmed its revenue outlook of $2.8 billion to $2.9 billion.
Q3 FY25 revenue was $679 million, compared with $710 million in Q3 FY24 and $636 million in Q2 FY25.
GAAP diluted EPS was $0.79 versus $0.87 a year earlier; adjusted diluted EPS was $1.03 versus $0.96.
FY25 GAAP diluted EPS outlook was raised to $3.11 to $3.31 from $2.50 to $2.70; adjusted diluted EPS outlook to $3.75 to $3.95 from $3.10 to $3.30.
Q3 FY25 results included about $52 million of IRA 45X vendor rebates, which Q3 FY24 did not include.
UMB Financial reported fourth-quarter 2024 GAAP net income of $120.0 million, or $2.44 per diluted share, up from $70.9 million, or $1.45 per share, a year earlier. Full-year 2024 net income was $441.2 million, or $8.99 per diluted share, compared with $350.0 million, or $7.18 per share in 2023. The board also declared a $0.40 quarterly dividend, and the company said its merger with Heartland Financial was slated to close January 31, 2025.
Q4 2024 GAAP net income of $120.0 million, or $2.44 per diluted share, versus $109.6 million ($2.23) in Q3 2024 and $70.9 million ($1.45) in Q4 2023.
Q4 2024 net operating income (non-GAAP) of $122.6 million, or $2.49 per diluted share, versus $112.0 million ($2.29) in Q4 2023.
Quarterly dividend of $0.40 per share, payable April 1, 2025, to stockholders of record on March 10, 2025.
Heartland Financial merger slated to close January 31, 2025; shareholder conference call set for January 29, 2025 at 8:30 a.m. CT.
Merchants Bancorp reported record full-year 2024 net income of $320.4 million and diluted EPS of $6.30, both up year over year. Fourth-quarter net income rose 23% from a year earlier to $95.7 million, helped by favorable fair market value adjustments on servicing rights and derivatives, though nonperforming loans rose to $279.7 million.
Full-year 2024 net income $320.4 million, up 15%; diluted EPS $6.30, up 12%
Q4 2024 net income $95.7 million, up 23% from Q4 2023 and 56% from Q3 2024; diluted EPS $1.85
Non-performing loans rose to $279.7 million, or 2.68% of gross loans, from $82.0 million a year earlier
Tangible book value per share reached a record $34.15, up 25% from $27.40 a year earlier
Manhattan Associates reported fourth-quarter and full-year 2024 results that showed higher revenue and higher adjusted earnings per share than in 2023, while GAAP diluted EPS for the fourth quarter slipped to $0.77 from $0.78. The company's 2025 guidance projects GAAP EPS of $3.05 to $3.15 and adjusted EPS of $4.45 to $4.55, which the filing states are declines of 10% to 13% and 4% to 6%, respectively, from 2024.
Q4 2024 revenue was $255.8 million, up from $238.3 million in Q4 2023; Q4 GAAP diluted EPS was $0.77 versus $0.78, and adjusted diluted EPS was $1.17 versus $1.03.
Full-year 2024 revenue was $1,042.4 million, up from $928.7 million; GAAP diluted EPS was $3.51 versus $2.82.
2025 guidance: total revenue of $1,060 million to $1,070 million and adjusted EPS of $4.45 to $4.55.
In January 2025 the company eliminated about 100 positions and raised its share repurchase authority to $100.0 million.
NVR reported fourth-quarter 2024 net income of $457.4 million, or $139.93 per diluted share, up 12% and 15% respectively from a year earlier, on consolidated revenue of $2.85 billion, up 17%. For the full year, revenue rose 11% to $10.52 billion and diluted earnings per share rose 9% to $506.69, though fourth-quarter new orders fell 8% and the homebuilding gross profit margin narrowed.
Q4 2024 net income $457.4 million vs. $410.1 million in Q4 2023; diluted EPS $139.93 vs. $121.56
Q4 2024 new orders fell 8% to 4,794 units; cancellation rate rose to 17% from 13%
Homebuilding gross profit margin fell to 23.6% in Q4 2024 from 24.1% a year earlier
Full-year 2024 net income $1.68 billion, up 6%; share repurchases totaled $2.06 billion for the year
U.S. Bancorp's board elected President Gunjan Kedia as chief executive officer effective April 15, 2025, and as a director, effective immediately. Andrew Cecere, the current chairman and CEO, will remain on the board as executive chairman. The filing sets no base salary or target bonus yet for Kedia, but it discloses a $10 million long-term incentive award, which is a planned leadership change that does not itself affect reported results.
Gunjan Kedia, 54, becomes President and CEO of U.S. Bancorp and U.S. Bank effective April 15, 2025
Andrew Cecere, CEO since April 2017 and chairman since April 2018, becomes executive chairman on April 15, 2025
Kedia's long-term incentive award is valued at $10 million as of the February 27, 2025 grant date, with 60% in performance-based restricted stock units
Base salary, target annual cash incentive for Kedia, and Cecere's executive chairman compensation have not been determined
Equity LifeStyle Properties reported fourth-quarter and full-year 2024 results on January 27, 2025, with full-year net income per share up 16.0% to $1.96 and normalized FFO per share up 5.9% to $2.91. The company guided to 2025 full-year normalized FFO per share of $3.01 to $3.11 and its board set the 2025 annual dividend at $2.06 per share, up 7.9% from $1.91 in 2024, which increases the cash payout to shareholders.
Q4 2024 normalized FFO per share was $0.76, up 6.9% from $0.71 a year earlier; Q4 FFO per share was flat at $0.76
Full-year 2024 net income per share was $1.96, up 16.0% from $1.69 in 2023
2025 full-year normalized FFO per share guidance is $3.01 to $3.11; first-quarter 2025 guidance is $0.80 to $0.86
2025 annual dividend rate set at $2.06 per share, an increase of $0.15 over $1.91 for 2024
Valley National Bancorp said director Avner Mendelson, a non-employee director who was Bank Leumi's designee, resigned from its board effective immediately, with notice given January 24, 2025. The company said the resignation was not due to any disagreement with the company, Valley National Bank or management, and Bank Leumi plans to seek a new designee to fill the seat. For shareholders, this is a routine board change that does not alter reported financial results.
Avner Mendelson notified the company of his resignation on January 24, 2025, effective immediately.
Mendelson was appointed as Bank Leumi's designee under the Investor Rights Agreement dated April 1, 2022.
The company states the resignation was not due to any disagreement with the company, Valley National Bank or management.
Bank Leumi intends to seek appointment of a new designee to the board.
PACCAR reported fourth-quarter 2024 revenue of $7.91 billion and net income of $872.0 million ($1.66 per diluted share), down from $9.08 billion and $1.42 billion ($2.70 per diluted share) a year earlier. For full-year 2024, revenue was $33.66 billion and net income was $4.16 billion ($7.90 per diluted share), versus $35.13 billion and $4.60 billion ($8.76) in 2023, a year that included a $446.4 million after-tax charge tied to European civil litigation. The company also raised its regular quarterly dividend 10% to 33 cents per share, payable March 5, 2025.
Q4 2024 net income was $872.0 million ($1.66 per diluted share), versus $1.42 billion ($2.70 per diluted share) in Q4 2023.
Full-year 2024 net income was $4.16 billion ($7.90 per diluted share), versus $4.60 billion ($8.76) in 2023.
Regular quarterly dividend raised 10% to 33 cents per share, payable March 5, 2025.
Conference call with securities analysts on January 28, 2025, at 9:00 a.m. Pacific time.
Commvault reported fiscal third-quarter 2025 results for the quarter ended December 31, 2024. Revenue rose 21% year over year to $262.6 million, and subscription revenue rose 39% to $158.3 million, but GAAP net income fell to $11.0 million, or $0.24 per diluted share, from $17.1 million, or $0.38, a year earlier. The company also gave fiscal 2025 total revenue guidance of $980 million to $985 million.
Total revenues were $262.6 million, up 21% year over year
GAAP net income was $11.0 million, or $0.24 per diluted share, versus $17.1 million, or $0.38, a year earlier
Non-GAAP diluted EPS was $0.94, versus $0.78 a year earlier
Fiscal 2025 total revenue guidance is $980 million to $985 million; fourth-quarter revenue is expected at $260 million to $264 million
Invesco reported fourth-quarter 2024 diluted EPS of $0.46, up from $0.12 in the third quarter and a loss of $1.64 a year earlier, with adjusted diluted EPS of $0.52. Operating revenues rose 5.1% from the third quarter and 12.7% from a year earlier to $1.6 billion, and the company declared a $0.205 quarterly common dividend payable March 4, 2025.
Diluted EPS $0.46 versus $0.12 in Q3 2024 and a loss of $1.64 in Q4 2023
Operating revenues $1.6 billion, up 5.1% from Q3 2024 and 12.7% from Q4 2023
Net long-term inflows of $25.6 billion in Q4 2024 and $65.1 billion for the full year
Quarterly common dividend of $0.205 per share, payable March 4, 2025 to holders of record on February 14, 2025
General Motors reported a fourth-quarter 2024 net loss attributable to shareholders of $3.0 billion, reduced by more than $5 billion in special charges, including $4 billion of non-cash restructuring and China joint venture impairment charges and $0.5 billion tied to ending funding for the Cruise robotaxi business. Fourth-quarter revenue rose 11.0%, and full-year 2024 net income fell 40.7% to $6.0 billion, while 2025 net income guidance is $11.2 billion to $12.5 billion. For shareholders, strong operating measures are offset by large one-time charges and lower full-year GAAP profit.
Q4 2024 net loss attributable to stockholders of $3.0 billion; EPS-diluted was $(1.64) versus $1.59 a year earlier
Q4 2024 revenue rose 11.0% to $47.7 billion; EBIT-adjusted rose 42.8% to $2.5 billion
Full-year 2024 net income fell 40.7% to $6.0 billion; EBIT-adjusted rose 20.9% to $14.9 billion
2025 guidance: net income attributable to stockholders of $11.2 billion to $12.5 billion; EPS-diluted-adjusted of $11.00 to $12.00
JetBlue reported a fourth-quarter 2024 net loss of $44 million, or $(0.13) per share, compared with a $104 million loss a year earlier, while operating revenue fell 2.1% to $2.3 billion. For full-year 2024, the net loss widened to $795 million from $310 million, and the company expects to reach a positive operating margin in 2025, with full-year adjusted operating margin guidance of 0.0% to 1.0%.
Q4 2024 net loss of $44 million, or $(0.13) per share, versus a $104 million loss, or $(0.31) per share, in Q4 2023
Q4 2024 operating revenue of $2.3 billion, down 2.1% year over year; operating margin of 0.7%
Full-year 2024 net loss of $795 million, or $(2.30) per share, versus $310 million, or $(0.93) per share, in 2023
2025 outlook: full-year revenue per available seat mile (RASM) up 3.0% to 6.0%; first-quarter 2025 RASM down 0.5% to up 3.5%
Adient reported first-quarter fiscal 2025 results for the three months ended December 31, 2024, with net sales of $3,495 million, down from $3,660 million a year earlier. Net income attributable to Adient was zero, compared with $20 million a year earlier, and adjusted diluted earnings per share fell to $0.27 from $0.31, so shareholders saw lower sales and weaker profit on both reported and adjusted measures.
Net sales were $3,495 million versus $3,660 million in the prior-year quarter.
Net income attributable to Adient was zero (shown as a dash) versus $20 million; diluted EPS was zero versus $0.21.
Adjusted diluted EPS was $0.27 versus $0.31; adjusted EBITDA was $196 million versus $216 million.
Net debt rose to $1,542 million at December 31, 2024, from $1,460 million at September 30, 2024; free cash flow was $45 million versus negative $14 million a year earlier.
Kimberly-Clark reported fourth-quarter 2024 net sales of $4.9 billion, down 0.8% from a year earlier, and diluted EPS of $1.34 versus $1.50, with adjusted EPS down 0.7% to $1.50. For full-year 2024, net sales fell 1.8% to $20.1 billion, but diluted EPS rose to $7.55 from $5.21 and adjusted EPS rose 11.1% to $7.30. The company expects 2025 adjusted operating profit and adjusted EPS to grow at high single-digit and mid-to-high single-digit rates on a constant-currency basis, with currency translation a headwind.
Q4 2024 net sales were $4.9 billion, down 0.8%, with organic sales up 2.3%
Q4 2024 operating profit was $548 million versus $670 million a year earlier, including $136 million of transformation and other charges
Full-year 2024 diluted EPS was $7.55 versus $5.21; adjusted EPS was $7.30 versus $6.57
2025 outlook: currency translation expected to reduce EPS by approximately 350-400 basis points
Lantheus agreed to acquire Evergreen Theragnostics, a clinical-stage radiopharmaceutical company with a contract manufacturing business, for a $250 million cash upfront payment plus up to $752.5 million in milestone payments. The company also reaffirmed its full-year 2024 revenue and adjusted EPS guidance, and the deal is expected to close in the second half of 2025, subject to regulatory clearances.
Upfront cash payment of $250 million at closing, plus up to $752.5 million in milestone payments tied to OCTEVY and Evergreen's pipeline
Reaffirmed FY 2024 revenue guidance of $1.51 billion to $1.52 billion and adjusted fully diluted EPS guidance of $6.65 to $6.70
Closing expected in the second half of 2025; reverse termination fee of $10 million payable to Evergreen in certain regulatory-failure cases
Investor presentation says the deal is low single digit percent dilutive to Lantheus stand-alone EPS in the near term
Synchrony Financial reported fourth quarter 2024 net earnings of $774 million, or $1.91 per diluted share, up from $440 million, or $1.03 per diluted share, a year earlier. The filing shows higher earnings driven partly by a lower provision for credit losses, while purchase volume fell 3% and net charge-offs rose to 6.45% of average loan receivables.
Q4 2024 net earnings of $774 million, up 76% from $440 million in Q4 2023
Diluted EPS of $1.91 versus $1.03 a year earlier; return on equity 18.9% versus 12.4%
Provision for credit losses fell $243 million to $1.6 billion, including a $100 million reserve release
Purchase volume decreased 3% to $48.0 billion; net charge-offs rose to 6.45% from 5.58%
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