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).
Tetra Tech reported first-quarter fiscal 2025 results, with revenue up 16% year over year to $1.42 billion and net revenue up 18% to $1.20 billion. GAAP EPS fell to $0.00 from $0.28 because of a $115 million legal contingency charge, while adjusted EPS rose 25% to $0.35. The company raised the high end of its fiscal 2025 adjusted EPS guidance and reaffirmed the midpoint, while noting it has paused some U.S. federal government work, particularly with USAID.
Q1 revenue $1.42 billion, up 16% year over year; net revenue $1.20 billion, up 18%
GAAP EPS $0.00 versus $0.28 a year earlier, including a $115 million legal contingency charge; adjusted EPS $0.35, up 25%
Fiscal 2025 adjusted EPS guidance of $1.37 to $1.52, with the high end raised and the midpoint reaffirmed
Quarterly dividend of $0.058 per share payable February 26, 2025, to holders of record on February 12, 2025
John B. Sanfilippo & Son reported fiscal 2025 second-quarter results ended December 26, 2024. Net sales rose 3.4% to $301.1 million on a 7.1% increase in sales volume, but gross profit fell 9.8% to $52.3 million and diluted EPS fell 29.3% to $1.16, so shareholders see higher sales alongside lower profit.
Net sales increased $9.8 million, or 3.4%, to $301.1 million; sales volume rose 7.1% to 96.3 million pounds
Gross profit decreased 9.8% to $52.3 million; gross margin fell to 17.4% of net sales from 19.9%
Diluted EPS decreased 29.3% to $1.16 per share; the prior-year quarter included a one-time $2.2 million bargain purchase gain tied to the Lakeville Acquisition
Six-month net sales rose 9.9% to $577.3 million, while six-month diluted EPS fell 31.4% to $2.16
Liberty Energy reported full-year 2024 revenue of $4.3 billion, down 9%, and net income of $316 million, or $1.87 per diluted share, compared with $556 million, or $3.15, in 2023. Fourth-quarter revenue fell 12% from a year earlier to $944 million, and diluted EPS was $0.31 versus $0.54. For shareholders, earnings declined sharply, though the company said it expects a modest sequential increase in first-quarter revenue and Adjusted EBITDA.
Full-year 2024 revenue was $4.3 billion, down 9% from $4.7 billion; Adjusted EBITDA was $922 million, down 24%.
Fourth-quarter 2024 net income was $52 million, or $0.31 per diluted share, versus $92 million and $0.54 a year earlier.
Fourth-quarter Adjusted EBITDA was $156 million, down 38% from $253 million in the fourth quarter of 2023.
The Board declared a $0.08 quarterly dividend payable March 20, 2025; the company expects a modest sequential increase in first-quarter 2025 revenue and Adjusted EBITDA.
Tootsie Roll appointed Michael Adam Chodos, age 66, to its Board of Directors on January 27, placing him on the Audit and Compensation Committees. On January 26, director Barre A. Seibert resigned from the board after 20 years of service. The filing describes routine board changes and does not report any financial results or guidance.
Michael Adam Chodos, age 66, joined the board on January 27 and was appointed to the Audit and Compensation Committees
Chodos previously served as Chief Legal Officer and Corporate Secretary of Medsphere Systems Corporation from June 2020 to September 2023
Barre A. Seibert resigned from the board on January 26 following 20 years of service
Stepan Company said its Vice President, General Counsel and Secretary, David G. Kabbes, will retire effective March 14, 2025. He will remain in his day-to-day role until then and provide transition support for at least three months afterward, while the company searches for a successor.
David G. Kabbes, Vice President, General Counsel and Secretary, retires effective March 14, 2025
Kabbes will provide transition support for at least three months after retirement
Company has begun an internal and external search for a successor
Landstar System reported fourth-quarter 2024 revenue of $1.209 billion, up slightly from $1.204 billion a year earlier, its first year-over-year quarterly revenue growth since the third quarter of 2022. Earnings per share fell to $1.31 from $1.62, and the company said EPS came in below the midpoint of its prior guidance, mainly due to a lower variable contribution margin and higher insurance and claims costs. The company also gave first-quarter 2025 EPS guidance of $1.05 to $1.25 and declared a quarterly dividend of $0.36 per share.
Q4 revenue of $1.209 billion vs. $1.204 billion in Q4 2023; truck revenue per load rose 3.1%, while loads hauled via truck fell 3.4%
Q4 EPS of $1.31 vs. $1.62; operating income of $57.8 million vs. $74.6 million
Insurance and claims costs were 6.7% of BCO revenue in Q4, versus a 4.7% average from fiscal 2019 through 2023
1Q 2025 guidance: EPS of $1.05 to $1.25 and consolidated revenue of $1.075 billion to $1.175 billion; quarterly dividend of $0.36 payable March 11, 2025
Meritage Homes reported fourth quarter and full-year 2024 results on January 29, 2025. Fourth quarter net earnings fell 13% and diluted EPS fell 12% on lower home closing revenue and margins, while full-year net earnings rose 6% to $786.2 million. The company also gave full-year 2025 guidance of 16,250 to 16,750 home closings and $6.6 billion to $6.9 billion in home closing revenue.
Q4 2024 net earnings were $172.6 million ($4.72 per diluted share), down from $198.9 million ($5.38) in Q4 2023.
Q4 2024 home closing gross margin was 23.2%, down 200 basis points from 25.2% a year earlier.
Full-year 2024 net earnings were $786.2 million ($21.44 per diluted share), up from $738.7 million ($19.93).
2025 guidance calls for 16,250 to 16,750 home closings and $6.6 billion to $6.9 billion in home closing revenue.
Silgan reported fourth quarter and full year 2024 results on January 29, 2025. Q4 net sales rose 5% to $1.4 billion and adjusted diluted EPS rose 35% to $0.85, but GAAP net income fell to $45.1 million ($0.42 per diluted share) from $64.4 million ($0.60). The company expects 2025 adjusted diluted EPS of $4.00 to $4.20, which it says is a 13% increase at the midpoint over 2024.
Q4 2024 net sales $1.4 billion, up $71.1 million (5%), mainly from the Weener Packaging acquisition
Full year 2024 net income $276.4 million ($2.58 per diluted share) vs. $326.0 million ($2.98) in 2023; adjusted EPS $3.62 vs. $3.40
Q4 rationalization charges $21.4 million, tied to the announced restructuring program
2025 guidance: adjusted diluted EPS $4.00 to $4.20; free cash flow approximately $450 million
United Rentals reported fourth-quarter 2024 total revenue of $4.095 billion, up from $3.728 billion a year earlier, and net income of $689 million, up 1.5%. Net income margin fell 140 basis points to 16.8%, and the company's 2025 outlook projects total revenue of $15.6 billion to $16.1 billion, excluding the pending H&E acquisition. The company also raised its quarterly dividend 10% to $1.79 per share and paused share repurchases while the H&E deal is pending, with closing expected in the first quarter of 2025.
Q4 2024 total revenue $4.095 billion vs $3.728 billion a year earlier; diluted EPS $10.47 vs $10.01; adjusted EPS $11.59
Net income margin fell 140 basis points to 16.8%; adjusted EBITDA margin fell 210 basis points to 46.4%
2025 outlook: total revenue $15.6 billion to $16.1 billion; adjusted EBITDA $7.2 billion to $7.45 billion; excludes pending H&E acquisition
Quarterly dividend raised 10% to $1.79 per share, payable February 26, 2025; share repurchases paused, with about $250 million of authorization remaining
Raymond James reported record fiscal first-quarter net revenues of $3.54 billion for the quarter ended December 31, 2024, up 17% from a year earlier, and net income available to common shareholders of $599 million, or $2.86 per diluted share, up from $2.32 a year earlier. The Board also raised the quarterly cash dividend 11% to $0.50 per share and authorized common stock repurchases of up to $1.5 billion, which affects the capital returned to shareholders.
Net income available to common shareholders of $599 million, or $2.86 per diluted share, versus $497 million, or $2.32 per diluted share, a year earlier
Net revenues of $3.54 billion, up 17% year over year and 2% sequentially
Capital Markets net revenues rose 42% to $480 million, with investment banking revenues of $317 million
Quarterly cash dividend raised 11% to $0.50 per share; repurchase authorization of up to $1.5 billion, with about $1.45 billion available as of January 24, 2025
Selective Insurance Group reported fourth-quarter 2024 results on January 29, 2025. Net premiums written rose 10%, but net income available to common stockholders fell 24% and the GAAP combined ratio rose to 98.5% from 93.7%, driven by $100 million of unfavorable prior-year casualty reserve development. The company also gave 2025 expectations, including a combined ratio of 96% to 97%, which shareholders can compare with 2024 results.
Q4 2024 net income per diluted share was $1.52, down from $2.01 a year earlier; non-GAAP operating income per share was $1.62, down from $1.94.
Net premiums written rose 10% to $1.09 billion, and total revenues rose 13% to $1.26 billion.
Full-year 2024 net income per diluted share was $3.23, down from $5.84; the full-year combined ratio was 103.0%.
2025 guidance: GAAP combined ratio of 96% to 97%, after-tax net investment income of $405 million, and 61.5 million weighted average diluted shares.
Dolby Laboratories reported first-quarter fiscal 2025 revenue of $357 million, up from $316 million a year earlier, and GAAP diluted EPS of $0.70, up from $0.69. The company also declared a $0.33 per share dividend and gave fiscal second-quarter and full-year fiscal 2025 ranges, with full-year revenue expected at $1.33 billion to $1.39 billion.
Q1 fiscal 2025 total revenue $357 million vs. $316 million in Q1 fiscal 2024
Non-GAAP diluted EPS $1.14 vs. $1.01; GAAP diluted EPS $0.70 vs. $0.69
Q2 fiscal 2025 revenue guided to $355 million to $385 million; full-year revenue to $1.33 billion to $1.39 billion
Cash dividend of $0.33 per share payable February 19, 2025 to holders of record on February 11, 2025
Annaly Capital Management reported fourth-quarter 2024 results on January 29, 2025. GAAP net income rose to $0.78 per average common share from $0.05 in the prior quarter, and earnings available for distribution rose to $0.72 from $0.66, while book value per common share fell to $19.15 from $19.54. The company declared a quarterly common dividend of $0.65 per share, and its CEO described the 2025 outlook as optimistic.
GAAP net income of $0.78 per average common share for Q4 2024, versus $0.05 in Q3 2024 and a loss of $0.88 in Q4 2023
Earnings available for distribution of $0.72 per share, up from $0.66 in Q3 2024
Book value per common share of $19.15 at December 31, 2024, down from $19.54 at September 30, 2024
Declared quarterly common stock cash dividend of $0.65 per share
Benchmark Electronics reported fourth quarter 2024 revenue of $657 million, down from $691 million a year earlier, while GAAP diluted EPS rose to $0.50 from $0.49 and non-GAAP EPS fell to $0.61 from $0.65. For fiscal 2024, revenue was $2.7 billion, down 6%, and GAAP EPS was $1.72 versus $1.79 in 2023. The company also gave first quarter 2025 revenue guidance of $620 million to $660 million.
Q4 2024 revenue $657 million vs. $691 million in Q4 2023; GAAP diluted EPS $0.50 vs. $0.49; non-GAAP diluted EPS $0.61 vs. $0.65
Fiscal 2024 revenue $2,656 million vs. $2,839 million in 2023; GAAP diluted EPS $1.72 vs. $1.79; non-GAAP diluted EPS $2.29 vs. $2.38
Fiscal 2024 free cash flow of $156 million, with GAAP operating margin of 4.1% and non-GAAP operating margin of 5.1%
Q1 2025 guidance: revenue $620 million to $660 million; GAAP diluted EPS $0.34 to $0.40; non-GAAP diluted EPS $0.48 to $0.54
Western Digital reported fiscal second quarter 2025 revenue of $4.29 billion, up 5% from the prior quarter and 41% from a year earlier, with GAAP diluted earnings per share of $1.63 compared with a loss of $0.93 a year earlier. The company guided fiscal third quarter revenue to $3.75 billion to $3.95 billion and non-GAAP EPS to $0.90 to $1.20, below the second quarter's $1.77 non-GAAP EPS, which matters to shareholders because the outlook points to lower results ahead while the company finalizes the separation of its HDD and Flash businesses.
Q2 revenue was $4.29 billion, up 5% sequentially and 41% year over year; Cloud revenue was $2.3 billion, up 6% sequentially.
Q2 GAAP diluted EPS was $1.63 and non-GAAP EPS was $1.77; GAAP gross margin fell to 35.4% from 37.9% in Q1.
Q3 fiscal 2025 guidance: revenue of $3.75 billion to $3.95 billion and non-GAAP diluted EPS of $0.90 to $1.20.
Operating cash inflow was $403 million, and the company ended the quarter with $2.29 billion in cash and cash equivalents.
Las Vegas Sands reported fourth-quarter 2024 net revenue of $2.90 billion, down 0.7% from the prior year quarter, and net income attributable to the company of $324 million, or $0.45 per diluted share, versus $382 million, or $0.50, a year earlier. For full year 2024, net income attributable to the company rose to $1.45 billion, or $1.96 per diluted share, from $1.22 billion, or $1.60, in 2023, and the company repurchased $450 million of its common stock during the quarter.
Q4 2024 net revenue $2.90 billion, down 0.7%; consolidated adjusted property EBITDA $1.11 billion versus $1.20 billion
Q4 2024 net income attributable to Las Vegas Sands $324 million ($0.45 per diluted share) versus $382 million ($0.50) in Q4 2023
Full year 2024 net income attributable to Las Vegas Sands $1.45 billion ($1.96 per diluted share) versus $1.22 billion ($1.60) in 2023
Next quarterly dividend of $0.25 per share payable February 19, 2025 to holders of record on February 10, 2025
Calix reported fourth-quarter 2024 revenue of $206.1 million, up 2.6% from the prior quarter but down 22% from the year-ago quarter. The GAAP net loss was $17.9 million, or $0.27 per diluted share, compared with a $0.10 loss per share a year earlier. The company guided first-quarter 2025 revenue to $204 million to $210 million and non-GAAP earnings per diluted share to $0.10 to $0.16.
Q4 2024 revenue was $206.1 million, up 2.6% sequentially and down 22% from $264.7 million a year earlier.
GAAP net loss was $17.9 million, or $0.27 per diluted share; non-GAAP net income was $5.2 million, or $0.08 per diluted share.
First-quarter 2025 guidance: revenue of $204 million to $210 million and non-GAAP EPS of $0.10 to $0.16.
Remaining performance obligations rose 34% year over year to $325.8 million.
Hawkins reported fiscal 2025 third-quarter results for the quarter ended December 29, 2024, with sales up 8% and operating income up 14% from a year earlier. Diluted EPS was $0.72, up from $0.71, though the prior-year figure was helped by a $0.08 per share favorable tax adjustment, and management expects continued growth in Water Treatment and Health and Nutrition.
Sales rose $17.7 million, or 8%, to $226.2 million; Water Treatment sales grew 22% to $99.8 million, while Industrial sales fell 1% to $92.0 million.
Net income was $15.0 million, or $0.72 per diluted share, versus $14.9 million, or $0.71, a year earlier.
Operating income was $21.1 million, the company's 27th consecutive quarter of year-over-year operating income growth.
Effective tax rate for the full fiscal year is expected to be approximately 26-27%; total debt was $114.0 million at quarter end.
Century Communities reported fourth-quarter 2024 net income of $102.7 million, or $3.20 per diluted share, up 13% from a year earlier, and full-year 2024 net income of $333.8 million, or $10.40 per diluted share. The company also gave 2025 guidance of 11,700 to 12,400 home deliveries and $4.5 billion to $4.8 billion in home sales revenues, which shareholders can compare with actual 2025 results.
Q4 2024 net income was $102.7 million, or $3.20 per diluted share, compared with $91.3 million, or $2.83, in Q4 2023
Full-year 2024 deliveries rose 15% to 11,007 homes, and total revenues were $4.4 billion
2025 outlook: 11,700 to 12,400 home deliveries and home sales revenues of $4.5 billion to $4.8 billion
In 2024 the company repurchased 1,027,702 shares for $83.8 million and paid dividends of $1.04 per share
ServiceNow reported fourth-quarter 2024 total revenues of $2,957 million, up 21% year over year, and full-year 2025 subscription revenue guidance of $12,635 million to $12,675 million, growth of 18.5% to 19%. The board also authorized an additional $3.0 billion in share repurchases, which the company says is aimed at managing dilution.
Q4 2024 GAAP net income was $384 million, or $1.86 per basic share and $1.83 per diluted share.
FY 2025 GAAP subscription revenue guidance is 18.5% to 19% year-over-year growth, compared with 23% GAAP subscription revenue growth in 2024.
Board authorized $3.0 billion in additional repurchases; about $266 million remained under the original $1.5 billion program as of December 31, 2024.
Q1 2025 GAAP subscription revenue guidance is $2,995 million to $3,000 million.
C.H. Robinson reported fourth-quarter 2024 results. Total revenues fell 0.9% to $4.2 billion, while income from operations rose 71.1% to $183.8 million and diluted EPS rose 369.2% to $1.22, driven by higher gross profit and lower operating expenses.
Q4 2024 total revenues decreased 0.9% to $4.2 billion; gross profit increased 10.4% to $672.9 million.
Q4 2024 income from operations rose 71.1% to $183.8 million; diluted EPS was $1.22, up 369.2%.
Full-year 2024 diluted EPS was $3.86, up 41.9%; adjusted EPS was $4.51, up 36.7%.
For 2025, the company expects a full-year effective tax rate of 18% to 20% and capital expenditures of $75 million to $85 million.
Ameriprise Financial reported fourth quarter 2024 GAAP net income of $1,071 million, or $10.58 per diluted share, compared with $377 million, or $3.57, a year earlier. Adjusted operating earnings per diluted share excluding unlocking and other items rose 23% to $9.54, and total net revenues rose 13% to $4,501 million. For shareholders, the filing also shows the company returned $768 million of capital in the quarter, while distribution expenses rose 24% to $1,616 million.
Q4 2024 GAAP net income $1,071 million, or $10.58 per diluted share, versus $377 million, or $3.57, in Q4 2023
Q4 2024 adjusted operating EPS excluding unlocking and other items $9.54, up 23% from $7.75
Full year 2024 adjusted operating EPS excluding unlocking and other items $35.79, up 17% from $30.46
Capital returned to shareholders was $768 million in Q4 2024 and $2.8 billion for the full year
SEI Investments reported fourth-quarter 2024 results on January 29, 2025, with revenue of $557.2 million, up 15% from a year earlier, and diluted EPS of $1.19, up 31%. Operating income rose 43% to $145.5 million, and operating margin reached 26%. The company also repurchased 3.1 million shares for $259.5 million in the quarter, while ending assets under management declined 3% from the prior quarter.
Q4 2024 revenue was $557.2 million, up 15% from $484.9 million in Q4 2023.
Diluted EPS was $1.19 versus $0.91 a year earlier; full-year 2024 diluted EPS was $4.41 versus $3.46.
Net income for Q4 2024 was $155.8 million, up 29% from $120.7 million.
SEI repurchased 3.1 million shares for $259.5 million at an average price of $83.43 per share in Q4 2024.
First Bancorp reported fourth-quarter 2024 net income of $3.6 million, or $0.08 diluted EPS, down from $18.7 million ($0.45) in the prior quarter and $29.7 million ($0.72) a year earlier. The results include a $36.8 million loss from a securities loss-earnback transaction, and the company also reported adjusted diluted EPS of $0.76 for the quarter. For shareholders, reported profit fell sharply, while the company's adjusted measures and net interest income rose.
Q4 2024 net income was $3.6 million, or $0.08 diluted EPS, versus $18.7 million ($0.45) in Q3 2024 and $29.7 million ($0.72) in Q4 2023.
A $36.8 million loss on securities from a loss-earnback transaction reduced noninterest income to negative $23.2 million for the quarter.
Adjusted diluted EPS was $0.76 for Q4 2024, up from $0.70 in Q3 2024, according to the company's non-GAAP reconciliation.
Full-year 2024 net income was $76.2 million, or $1.84 diluted EPS, compared with $104.1 million, or $2.53, in 2023.
MaxLinear reported unaudited fourth-quarter and fiscal 2024 results on January 29, 2025. Q4 net revenue of $92.2 million rose 14% from the prior quarter but fell 26% from a year earlier, and the GAAP loss per diluted share was $0.68. The company expects first-quarter 2025 net revenue of approximately $85 million to $105 million, and its CEO said it is working toward a return to profitability in coming quarters.
Q4 2024 net revenue was $92.2 million, up 14% sequentially and down 26% from the year-ago quarter.
Q4 GAAP net loss was $57.8 million, or $0.68 per diluted share, compared with $0.90 in Q3 2024 and $0.47 in Q4 2023.
Fiscal 2024 net revenue was $360.5 million, down 48.0% from fiscal 2023; GAAP diluted loss per share was $2.93.
First-quarter 2025 net revenue is expected to be approximately $85 million to $105 million.
Robert Half reported fourth-quarter 2024 results, with net income of $54 million, or $0.53 per share, down from $87 million, or $0.83 per share, a year earlier. Revenue fell to $1.382 billion from $1.473 billion, while Protiviti revenue grew year over year, and full-year 2024 net income fell to $252 million from $411 million.
Q4 2024 net income was $54 million ($0.53 per share) versus $87 million ($0.83 per share) in Q4 2023.
Full-year 2024 net income was $252 million ($2.44 per share) on revenue of $5.796 billion, versus $411 million ($3.88 per share) on $6.393 billion in 2023.
On January 23, 2025, J.B. Hunt's board approved a new 2025 annual cash incentive plan for named executive officers. The bonus is weighted 70% on 2025 operating income and 15% each on revenue excluding fuel surcharge and the preventable collisions rate, measured against targets.
Plan approved January 23, 2025; payout follows completion of calendar year 2025
Chairman John Roberts and CEO Shelley Simpson: bonus of 37.5% to 300% of base salary, target 150%
Other named executive officers: bonus of 25% to 200% of base salary, target 100%
Payouts based on 85% to 115% of targeted amounts; calculation expected on or about January 15, 2026
McCormick & Company disclosed that director Patricia Little intends to retire from its board and will not stand for re-election. She will remain on the board until the next annual stockholders' meeting, currently scheduled for March 26, 2025. The filing describes a board transition with no financial figures, so it has no direct effect on reported results.
Patricia Little informed the Nominating and Corporate Governance Committee on January 27, 2025 of her retirement plan
She will not stand for election at the next annual stockholders' meeting, scheduled for March 26, 2025
Ms. Little will continue serving on the board until that meeting
The filing reports no financial figures or compensation changes
Provident Financial Services reported fourth-quarter 2024 net income of $48.5 million, or $0.37 per share, up from $46.4 million in the third quarter and $27.3 million a year earlier. Full-year 2024 net income fell to $115.5 million, or $1.05 per share, from $128.4 million in 2023, reflecting the May 16, 2024 Lakeland merger, including $56.9 million in full-year transaction costs and a large initial CECL provision on acquired loans.
Q4 2024 net income $48.5 million, $0.37 per share, versus $46.4 million, $0.36 per share in Q3 2024
Full-year 2024 net income $115.5 million, $1.05 per share, versus $128.4 million in 2023
Quarterly cash dividend of $0.24 per share payable February 28, 2025, to holders of record February 14, 2025
Virtual Annual Meeting of Stockholders set for April 24, 2025; record date February 28, 2025
Applied Industrial Technologies reported fiscal 2025 second-quarter net income of $93.3 million, or $2.39 per diluted share, up from $2.32 a year earlier, on net sales of $1.1 billion that fell 0.4%. The company raised its fiscal 2025 EPS guidance to $9.65 to $10.05 from $9.25 to $10.00 and increased its quarterly dividend 24% to $0.46 per share.
Net sales of $1.1 billion, down 0.4% year over year; down 3.4% on an organic daily basis
Net income of $93.3 million, or $2.39 per diluted share, versus $2.32 a year earlier; EBITDA of $135.1 million, up 3.3%
Fiscal 2025 EPS guidance raised to $9.65 to $10.05 from $9.25 to $10.00, including the Hydradyne acquisition that closed December 31, 2024
Quarterly dividend raised to $0.46 per share, payable February 28, 2025, to holders of record on February 14, 2025
ADM said its board appointed Carrie Nichol as Vice President and Chief Accounting Officer, effective March 1, 2025, succeeding Molly Strader Fruit, who moves to a Vice President role in total rewards and HR operations. Nichol most recently served as Senior Vice President, Chief Accounting Officer and Global Process Leader at Cargill, and the filing sets out her initial pay package. The filing does not report financial results; the change concerns who leads ADM's accounting, internal control and insurance and risk management functions.
Carrie Nichol, age 45, becomes Vice President and Chief Accounting Officer effective March 1, 2025, and reports to Chief Financial Officer Monish Patolawala.
Initial pay includes a $550,000 base salary and a $500,000 target annual bonus under the 2025 cash incentive plan.
Equity award with about $1,315,000 target grant value (60% performance stock units, 40% restricted stock units), plus make-whole cash payments of $796,000 and $585,000 and a make-whole restricted stock unit award of about $980,000.
Capitol Federal Financial reported first-quarter fiscal 2025 net income of $15.4 million, or $0.12 per share, for the quarter ended December 31, 2024, up from $12.1 million, or $0.09 per share, in the prior quarter. The increase was mainly due to lower income tax expense, since the prior quarter included tax tied to a pre-1988 bad debt recapture. The company also announced a quarterly dividend of $0.085 per share, which is unchanged.
Net income of $15.4 million, or $0.12 per share, versus $12.1 million, or $0.09 per share, in the quarter ended September 30, 2024.
Net interest margin rose six basis points to 1.86% from 1.80% in the prior quarter.
Management expects non-interest expenses to rise 4.0% in fiscal 2025 compared to fiscal 2024.
Quarterly dividend of $0.085 per share, payable February 21, 2025, to stockholders of record as of February 7, 2025.
M/I Homes reported fourth-quarter and full-year 2024 results on January 29, 2025, in a press release furnished as Exhibit 99.1. Revenue and net income rose in both periods, with full-year net income of $563.7 million, or $19.71 per diluted share, compared with $16.21 in 2023. For shareholders, the results show higher earnings, $176.0 million of stock repurchases and a lower homebuilding debt-to-capital ratio, though the release does not include earnings guidance.
Q4 2024 revenue was $1.2 billion, up 24%, and net income was $133.5 million, or $4.71 per diluted share, versus $3.66 a year earlier.
Full-year 2024 revenue rose 12% to $4.5 billion, and net income was $563.7 million, or $19.71 per diluted share, versus $16.21 in 2023.
The company repurchased $176.0 million of stock in 2024, and its homebuilding debt-to-capital ratio fell to 19% from 22%.
Brinker International reported second quarter fiscal 2025 results for the period ended December 25, 2024, with total revenues of $1,358.2 million and net income of $118.5 million, both up from the prior-year quarter. The company also issued updated fiscal 2025 guidance, with total revenues expected at $5.15 billion to $5.25 billion and non-GAAP EPS expected at $7.50 to $8.00.
Total revenues were $1,358.2 million versus $1,074.1 million a year earlier; Chili's comparable restaurant sales rose 31.4%.
Net income was $118.5 million, or $2.61 per diluted share, versus $42.1 million, or $0.94, a year earlier.
Non-GAAP EPS excluding special items was $2.80 versus $0.99 in the prior-year quarter.
Updated fiscal 2025 guidance: total revenues of $5.15 billion to $5.25 billion and non-GAAP EPS of $7.50 to $8.00; the filing does not state prior guidance figures.
Norfolk Southern reported fourth-quarter 2024 diluted earnings per share of $3.23, up 39% from $2.32 a year earlier, on railway operating revenue of $3.0 billion, down 2%. For full-year 2024, diluted EPS was $11.57, up 44%, while revenue was $12.1 billion, down $33 million. Results include charges and gains tied to the Eastern Ohio incident, restructuring, and railway line sales, and the company also presented adjusted figures that exclude them.
Q4 2024 income from railway operations was $1.1 billion, up 40% from Q4 2023; adjusted Q4 diluted EPS was $3.04, up 7%.
Full-year 2024 operating ratio was 66.4%, compared with 76.5% in 2023; adjusted operating ratio was 65.8%.
Restructuring and other charges totaled $183 million for 2024, and Eastern Ohio incident expenses were $325 million net of insurance recoveries.
The company repurchased no shares under its stock repurchase program in 2024, compared with $627 million of repurchases in 2023.
Avnet reported fiscal second-quarter 2025 results ended December 28, 2024, with sales down 8.7% from a year earlier and diluted EPS down 22.7% to $0.99. Adjusted diluted EPS was $0.87, compared with $1.40 a year earlier. Its third-quarter outlook of $5.05 billion to $5.35 billion in sales and $0.65 to $0.75 in adjusted diluted EPS sits below the quarter just reported, which matters to shareholders because it signals lower near-term earnings.
Q2 sales were $5.7 billion versus $6.2 billion a year earlier; Asia sales rose 8.4% while EMEA fell 25.1%
Diluted EPS was $0.99 versus $1.28; adjusted diluted EPS was $0.87 versus $1.40
Third-quarter fiscal 2025 guidance: sales $5.05 billion to $5.35 billion and adjusted diluted EPS $0.65 to $0.75, with GAAP EPS guidance of $0.56 to $0.71
Inventory fell $362 million, and the company returned $51 million through share repurchases and $29 million in dividends in the quarter
Vail Resorts amended its credit agreement on January 27, 2025, raising its revolving credit commitments by $100.0 million to $600.0 million and adding a $450.0 million delayed draw term loan that can be drawn at the company's option, with undrawn capacity expiring in January 2026. The company also agreed on January 28, 2025 to repurchase about $50 million of its 0.0% convertible notes due January 2026 for about $48 million in cash, leaving about $525 million outstanding; the company says the new borrowing capacity can be used to refinance the notes.
First Amendment to credit agreement signed January 27, 2025, with Bank of America, N.A. as administrative agent
Revolving commitments increased $100.0 million to $600.0 million; $450.0 million delayed draw term loan added
Repurchase of about $50 million of convertible notes for about $48 million cash, a roughly 4% discount to par, expected to close January 30, 2025
About $525 million of the 0.0% convertible notes due January 2026 to remain outstanding after closing
General Dynamics reported fourth-quarter 2024 net earnings of $1.1 billion and revenue of $13.3 billion, both up about 14% from a year earlier. For the full year, net earnings were $3.8 billion and diluted EPS was $13.63, up 13.4%, with the company citing steady growth across all four segments. The release does not include 2025 guidance; the company said it would add guidance information to its website charts after its earnings call.
Q4 diluted EPS of $4.15, up 14.0% from $3.64 a year earlier
Full-year revenue of $47.7 billion, up 12.9%, and net earnings of $3.8 billion, up 14.1%
Backlog ended 2024 at $90.6 billion; full-year book-to-bill was 1-to-1
Gulfstream delivered 47 aircraft in the fourth quarter and 136 for the year
Corning reported fourth-quarter 2024 GAAP sales of $3.5 billion, up 17% year over year, and GAAP diluted EPS of $0.36, compared with a loss of $0.05 a year earlier. Core sales rose 18% to $3.87 billion and core EPS rose 46% to $0.57. For full-year 2024, GAAP EPS fell 15% to $0.58, and the company guided to first-quarter 2025 core EPS of $0.48 to $0.52, up about 30%.
Q4 2024 GAAP net income attributable to Corning was $310 million, versus a $40 million loss in Q4 2023.
Full-year 2024 GAAP net income attributable to Corning was $506 million, down 13% from $581 million, and GAAP diluted EPS was $0.58, down 15%.
Q1 2025 outlook: core sales of about $3.6 billion, up approximately 10%, and core EPS of $0.48 to $0.52.
Display Technologies expects 2025 segment net income of $900 million to $950 million.
Nasdaq reported fourth-quarter 2024 net revenue of $1.2 billion, up 10% from a year earlier, and GAAP diluted earnings per share of $0.61, up 72%. For full-year 2024, net revenue rose 19% to $4.6 billion, but GAAP diluted earnings per share fell 7% to $1.93. The company also gave initial 2025 non-GAAP operating expense guidance of $2,245 million to $2,325 million and declared a quarterly cash dividend.
Q4 2024 non-GAAP diluted EPS was $0.76, up 5%; full-year non-GAAP diluted EPS was $2.82, flat versus 2023
Solutions revenue in Q4 2024 was $949 million, up 10%; Index revenue was $188 million, up 29%
2025 non-GAAP operating expense guidance is $2,245 million to $2,325 million; non-GAAP tax rate guidance is 22.5% to 24.5%
Nasdaq returned $138 million to shareholders through dividends in Q4 2024 and repurchased $181 million of senior unsecured notes
Extreme Networks reported fiscal second-quarter 2025 results for the quarter ended December 31, 2024. Revenue fell 5.7% year-over-year, while GAAP diluted EPS rose to $0.06 from $0.03 and non-GAAP diluted EPS declined to $0.21 from $0.24. The company also issued revenue targets for the third quarter and full fiscal 2025, which set the near-term outlook for shareholders.
Q2 fiscal 2025 total net revenue was $279.4 million, down from $296.4 million a year earlier and up 3.8% quarter-over-quarter.
GAAP diluted EPS was $0.06 versus $0.03 a year earlier; non-GAAP diluted EPS was $0.21 versus $0.24.
Q3 fiscal 2025 (ending March 31, 2025) guidance: total net revenue of $276.0 million to $284.0 million and non-GAAP EPS of $0.16 to $0.20.
FY2025 (ending June 30, 2025) total net revenue guidance: $1,120.0 million to $1,138.0 million.
Victoria's Secret & Co. named Scott Sekella, former CFO of JOANN Inc., as chief financial officer effective January 29, 2025. Timothy Johnson stepped down as chief financial and administrative officer effective January 28, 2025, and is retiring in June 2025. In the same January 29 press release, the company raised the low end of its fourth quarter 2024 guidance for net sales, adjusted operating income, and adjusted diluted earnings per share, which it said are expected to fall within or near the top end of prior ranges.
Updated Q4 2024 adjusted operating income guidance is $260 million to $270 million, up from $240 million to $270 million.
Updated adjusted diluted EPS guidance is $2.20 to $2.30, up from $2.00 to $2.30; net sales growth guidance is +3% to +4%, up from +2% to +4%.
Sekella's pay includes a $750,000 base salary, a target bonus of 100% of salary, and a one-time $200,000 cash bonus.
Johnson remains employed by the company in a non-executive role.
Stifel reported record fourth-quarter net revenues of $1.36 billion, up from $1.15 billion a year earlier, and diluted EPS of $2.09 versus $1.38. For the full year, net revenues were $4.97 billion and diluted EPS was $6.25, and the board approved a 10% increase in the quarterly dividend to $0.46 per share starting in the first quarter of 2025.
Q4 2024 net income available to common shareholders was $234.7 million, or $2.09 per diluted share, versus $153.2 million, or $1.38, a year earlier
Full-year 2024 net income available to common shareholders was $694.1 million, or $6.25 per diluted share, versus $485.3 million, or $4.28 in 2023
Quarterly dividend increases 10% to $0.46 per common share starting in the first quarter of 2025
Company repurchased $45.5 million of common stock in Q4 2024 and $242.6 million in full-year 2024
Lennox reported fourth quarter 2024 revenue of $1.3 billion, up 16% from a year earlier, with GAAP diluted earnings per share of $5.52 versus $4.04 and adjusted diluted EPS of $5.60, up 54%. The company also issued full year 2025 guidance, forecasting adjusted EPS of $22.00 to $23.50 and free cash flow of $650 million to $800 million, which gives shareholders a outlook for the coming year.
Q4 2024 revenue $1.3 billion, up 16%; core revenue up 22%
Q4 GAAP diluted EPS $5.52 vs. $4.04; adjusted diluted EPS $5.60, up 54%
Full year 2025 adjusted EPS guidance of $22.00 to $23.50, vs. $22.58 adjusted EPS in 2024
Q4 free cash flow $273 million, up 50%; 2025 free cash flow estimated at $650 million to $800 million
VF Corp reported third-quarter fiscal 2025 revenue of $2.83 billion, up 2% from a year earlier, and swung to diluted earnings of $0.43 per share from a loss of $0.24. The company guided fourth-quarter revenue down 4% to 6% and an adjusted operating loss of $(30) million to $0, while raising its fiscal 2025 free cash flow guidance to $440 million.
Q3 fiscal 2025 revenue was $2.83 billion, up 2% from $2.78 billion in Q3 fiscal 2024.
Q3 operating income was $226 million, compared with a loss of $91 million a year earlier; diluted EPS was $0.43 versus $(0.24).
Q4 fiscal 2025 guidance: revenue down 4% to 6% versus last year and an adjusted operating loss of $(30) million to $0 million.
Fiscal 2025 free cash flow guidance raised to $440 million from $425 million; quarterly dividend of $0.09 per share payable March 20, 2025.
MSCI reported fourth-quarter 2024 operating revenues of $743.5 million, up 7.7%, and adjusted EPS of $4.18, up 13.6%. Diluted EPS fell 23.1% to $3.90 as net income declined 24.3%, which the company attributed in part to a $143.0 million one-time gain on its Burgiss investment in the prior-year quarter. The company also gave full-year 2025 guidance and declared a first-quarter 2025 dividend of $1.80 per share, up 12.5%.
Q4 2024 operating revenues $743.5 million, up 7.7%; net income $305.5 million, down 24.3%
Diluted EPS $3.90, down 23.1%; adjusted EPS $4.18, up 13.6%
Full-year 2025 guidance includes adjusted EBITDA expense of $1,220 to $1,250 million and free cash flow of $1,400 to $1,460 million
Quarterly dividend of $1.80 per share declared, up 12.5%, payable February 28, 2025
Eagle Materials reported fiscal third-quarter results for the quarter ended December 31, 2024, with revenue of $558.0 million, compared with $558.8 million a year earlier. Net earnings fell to $119.6 million from $129.1 million, and diluted EPS was $3.56 versus $3.72, as adverse weather reduced cement and concrete volumes. The filing contains no updated guidance, and the lower profit per share is the main concern for shareholders.
Revenue of $558.0 million versus $558.8 million in the prior-year quarter
Net earnings of $119.6 million, or $3.56 per diluted share, versus $129.1 million, or $3.72 per diluted share
Heavy Materials operating earnings decreased 20% to $85.4 million on lower sales volume; Light Materials operating earnings rose 18% to $97.4 million
Repurchased about 195,000 shares for $55 million and announced the acquisition of Bullskin Stone and Lime, LLC
Prosperity Bancshares reported fourth quarter 2024 net income of $130.1 million, or $1.37 per diluted share, up from $95.5 million, or $1.02 per share, a year earlier. The company said the increase was mainly due to higher net interest income and a lower FDIC special assessment, partly offset by higher salaries and benefits. The filing also approved a 2025 stock repurchase program covering up to 5% of outstanding common stock.
Q4 2024 net income $130.1 million, up 36.2% from $95.5 million in Q4 2023
Diluted EPS $1.37 versus $1.02 a year earlier, an increase of 34.3%
Net interest margin (tax equivalent) 3.05%, up from 2.75% in Q4 2023
2025 stock repurchase program covers up to about 4.8 million shares, or 5% of common stock, through January 21, 2026
Central Pacific Financial reported fourth-quarter 2024 net income of $11.3 million, or $0.42 per diluted share, down from $13.3 million, or $0.49, in the third quarter and $14.9 million, or $0.55, a year earlier. Results were hit by a $9.9 million pre-tax loss from an investment securities repositioning, and the board raised the quarterly dividend 3.8% to $0.27 per share and authorized a new buyback of up to $30 million for 2025.
Q4 2024 net income $11.3 million, $0.42 per diluted share; full-year 2024 net income $53.4 million, $1.97 per share, versus $58.7 million and $2.17 in 2023
Pre-tax loss of $9.9 million on sale of lower-yielding securities; company estimates the reinvestment will add $2.7 million to annual net interest income
Net interest margin rose 10 basis points to 3.17%; company reported adjusted Q4 EPS of $0.70 (non-GAAP)
Board approved quarterly dividend of $0.27 per share, payable March 17, 2025, and a share repurchase program of up to $30 million
Otis reported fourth quarter 2024 net sales of $3.7 billion, up 1.5%, and adjusted EPS of $0.93, up 6.9%. For the full year, net sales were $14.3 billion, up 0.4%, and adjusted EPS was $3.83, up 8.2%. The company forecast 2025 adjusted EPS of $4.00 to $4.10, and shareholders received $1.0 billion of share repurchases in 2024.
Q4 2024 GAAP EPS was $0.84, up 6.3%, and GAAP operating profit was $531 million, flat margin at 14.4%
Full year 2024 GAAP EPS rose 20.1% to $4.07, driven primarily by a non-recurring tax benefit
2025 outlook: net sales of $14.1 to $14.4 billion and adjusted EPS of $4.00 to $4.10, up 4 to 7%
2024 share repurchases totaled $1.0 billion, including $200 million in the fourth quarter
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