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).
Cincinnati Financial Corporation's board declared a regular quarterly dividend of 87 cents per share, up from 81 cents, and the company announced several executive promotions. The company's CEO also said California wildfire losses will have a material effect on first-quarter 2025 earnings, though no loss estimate has been provided yet.
Quarterly dividend of 87 cents per share, up 7% from 81 cents, payable April 15, 2025 to shareholders of record as of March 24, 2025.
CEO Stephen M. Spray said California wildfire losses will have a material effect on first-quarter 2025 earnings; the company has not yet provided a loss estimate.
On January 31, 2025, Sean M. Givler and Will Van Den Heuvel were promoted to executive vice president.
Dawn S. Chapel, Scott A. Schuler and Chet H. Swisher were promoted to senior vice president and named executive officers.
Standex reported fiscal second quarter 2025 results for the quarter ended December 31, 2024. Net sales rose 6.4% to $189.8 million, helped by the Amran/Narayan acquisition, while GAAP operating income fell 67.2% to $8.5 million, mainly due to $16.4 million in acquisition-related costs. Adjusted diluted EPS was flat at $1.91, and the company expects significantly higher third-quarter revenue on a sequential basis.
Net sales were $189.8 million, up 6.4% from $178.4 million a year earlier.
GAAP diluted EPS was $0.07, compared with $1.61 a year earlier; adjusted diluted EPS was $1.91, unchanged.
GAAP operating income was $8.5 million, versus $25.8 million; adjusted operating income rose 15.4% to $35.5 million.
Free cash flow was $2.2 million, versus $19.5 million a year earlier; net debt was $413.2 million at December 31, 2024.
Franklin Resources reported net income attributable to the company of $163.6 million, or $0.29 per diluted share, for the quarter ended December 31, 2024. That was down 35% from a year earlier but improved from a net loss of $84.7 million in the prior quarter, while operating revenues rose 13% year over year. Long-term net outflows of $50.0 billion, including $67.9 billion at Western Asset Management, reduced total assets under management to $1,575.7 billion, and the company's revenue depends on those assets.
Net income attributable to Franklin Resources was $163.6 million, or $0.29 per diluted share, versus a net loss of $84.7 million in the prior quarter and $251.3 million a year earlier.
Operating revenues were $2,251.6 million, up 13% from $1,991.1 million a year earlier and up 2% from $2,211.2 million in the prior quarter.
Adjusted diluted earnings per share were $0.59, flat from the prior quarter and down 9% from $0.65 a year earlier. The company says these are non-GAAP measures.
Long-term net outflows were $50.0 billion, including $67.9 billion at Western Asset Management; total assets under management ended the quarter at $1,575.7 billion, down from $1,678.6 billion.
First Hawaiian reported fourth-quarter 2024 net income of $52.5 million, or $0.41 per diluted share, down from $61.5 million and $0.48 in the prior quarter but up from $47.5 million and $0.37 a year earlier. The results include a $26.2 million pre-tax loss from selling $290.4 million of low-yielding securities, which the company reinvested in $291.5 million of higher-yielding securities.
Q4 2024 net income $52.5 million, $0.41 per diluted share, versus $61.5 million and $0.48 in Q3 2024
Q4 2024 included a $26.2 million pre-tax ($19.2 million after-tax) loss on the sale of securities
Net interest margin rose 8 basis points to 3.03%; total deposits rose $94.5 million to $20.3 billion
Board declared a $0.26 per share quarterly dividend payable February 28, 2025, and adopted a repurchase program of up to $100.0 million for 2025
Gentex reported fourth-quarter 2024 net sales of $541.6 million, down 8% from a year earlier, and diluted EPS of $0.39 versus $0.50. For calendar 2024, net sales rose 1% to a record $2.31 billion, but diluted EPS fell to $1.76 from $1.84. The company also issued 2025 revenue guidance of $2.40 to $2.45 billion, which is a forecast of growth for shareholders to weigh against the weaker fourth quarter and lower profit.
Q4 2024 net sales were $541.6 million, down from $589.1 million in Q4 2023; the company cited a revenue shortfall of approximately $45 to $50 million versus its beginning-of-quarter forecast.
Q4 2024 gross margin was 32.5% versus 34.5%, and the quarter included an $8.9 million intangible asset impairment charge.
Calendar 2024 net income was $404.5 million versus $428.4 million in 2023.
2025 guidance includes revenue of $2.40 to $2.45 billion and gross margin of 33.5% to 34.5%; the guidance excludes the pending VOXX International acquisition.
Colgate-Palmolive reported fourth quarter and full year 2024 results. Fourth quarter net sales were $4,944 million, down 0.1%, while GAAP diluted EPS rose 3% to $0.90. For the full year, net sales reached $20.1 billion (up 3.3%) and GAAP diluted EPS rose 27% to $3.51. For 2025, the company expects roughly flat net sales and mid-single-digit GAAP EPS growth.
Q4 2024 net sales $4,944 million, down 0.1%; organic sales up 4.3%
Q4 2024 GAAP diluted EPS $0.90, up 3%; Base Business EPS $0.91, up 5%
Full year 2024 net sales $20.1 billion, up 3.3%; GAAP diluted EPS $3.51, up 27%
2025 guidance: net sales roughly flat, including a mid-single-digit negative FX impact; GAAP EPS growth mid-single-digit
Church & Dwight reported fourth-quarter 2024 net sales of $1,582.0 million, up 3.5%, and adjusted EPS of $0.77, up 18.5%, both ahead of its outlook. Full-year reported EPS fell 22.3% to $2.37 because of $357.1 million in asset impairments, mainly in its vitamin business, while full-year adjusted EPS rose 8.5% to $3.44. The company also expects 2025 adjusted EPS to grow 7% to 8% and raised its quarterly dividend 4%, but guided first-quarter adjusted EPS down 6% to $0.90.
Q4 2024 net sales $1,582.0 million, up 3.5%; organic sales up 4.2%, above the 2% to 3% outlook
Q4 reported EPS $0.76, up 22.6%; adjusted EPS $0.77 versus $0.65 a year earlier
Full-year reported EPS $2.37, down 22.3%, due to $357.1 million in tradename and asset impairments
Quarterly dividend raised 4% to $0.295 per share, payable March 3, 2025
Virtus Investment Partners reported fourth-quarter 2024 results. Revenue rose 9% from a year earlier to $233.5 million, and GAAP diluted earnings per share were $4.66, up from $4.21, though down from $5.71 in the prior quarter. Net outflows of $4.8 billion and a drop in assets under management to $175.0 billion from $183.7 billion in the prior quarter weighed on the period, so results point in mixed directions for shareholders.
GAAP diluted EPS was $4.66, up 11% from $4.21 a year earlier but down 18% from $5.71 in the prior quarter
Adjusted diluted EPS was $7.50, up 23% from $6.11 a year earlier
Net outflows were $4.8 billion, including a previously disclosed $3.3 billion lower-fee partial redemption of an institutional mandate
Assets under management ended the quarter at $175.0 billion, down from $183.7 billion at September 30, 2024
Autoliv reported fourth-quarter 2024 results with net sales down 4.9% to $2,616 million and organic sales down 3.3%, while operating income reached a record $353 million and diluted EPS rose 14% to $3.10. Adjusted diluted EPS fell 19% to $3.05, and the company guided 2025 to around 2% organic sales growth and an adjusted operating margin of around 10-10.5%, with around $1.2 billion of operating cash flow.
Q4 2024 net sales were $2,616 million, down 4.9% from $2,751 million; organic sales declined 3.3% against a global LVP increase of 0.4%.
Operating income was a record $353 million (13.5% margin) versus $237 million a year earlier; adjusted operating income was $349 million.
Full year 2025 guidance: around 2% organic sales growth, adjusted operating margin of around 10-10.5%, and operating cash flow of around $1.2 billion.
The company expects 2025 LVP to decline slightly and will hold its Capital Markets Day on June 3, 2025.
WisdomTree reported fourth-quarter 2024 net income of $27.3 million and diluted EPS of $0.18, compared with a net loss in the prior quarter. Operating revenues fell 2.2% from the third quarter to $110.7 million but rose 21.9% from a year earlier, and operating margin declined to 31.7%. The company also declared a $0.03 quarterly dividend, payable February 26, 2025.
Q4 2024 operating revenues were $110.7 million, down 2.2% from Q3 2024 and up 21.9% from Q4 2023.
Q4 2024 net income was $27.3 million, versus a net loss of $4.5 million in Q3 2024; full-year 2024 net income was $66.7 million, versus $102.5 million in 2023.
Operating income margin was 31.7%, down from 36.0% in Q3 2024, due to higher expenses including costs of the BNY Custody Migration.
Board declared a $0.03 per share quarterly dividend on January 28, 2025, payable February 26, 2025 to holders of record on February 12, 2025.
Federated Hermes reported fourth-quarter 2024 diluted EPS of $1.04, up from $0.96 a year earlier, and full-year 2024 EPS of $3.23, down from $3.40. Full-year results include a $66.3 million non-cash impairment of an intangible asset recorded in Q2 2024, which the company said reduced EPS by $0.73. Total managed assets reached a record $829.6 billion at Dec. 31, 2024.
Q4 2024 net income was $84.7 million, compared with $82.2 million in Q4 2023.
Full-year 2024 net income was $268.3 million, compared with $299.0 million in 2023, including the $66.3 million impairment charge.
Total managed assets were $829.6 billion at Dec. 31, 2024, up 10% from $757.6 billion a year earlier.
The board declared a $0.31 quarterly dividend payable Feb. 14, 2025; the company bought back 552,533 Class B shares for $22.1 million in Q4 2024.
PennyMac Mortgage Investment Trust reported fourth-quarter 2024 net income attributable to common shareholders of $36.1 million, or $0.41 per diluted share, on net investment income of $107.9 million. For the full year, net income attributable to common shareholders fell to $119.2 million, or $1.37 per diluted share, from $157.8 million, or $1.63, in 2023.
Q4 2024 diluted EPS of $0.41, up from $0.36 in Q3 2024 but below $0.44 in Q4 2023
Full-year 2024 net investment income of $334.2 million, down from $429.0 million in 2023
Book value per common share rose to $15.87 at December 31, 2024, from $15.85 at September 30, 2024
Q4 2024 cash dividend of $0.40 per common share was paid on January 24, 2025
Xylem said its fourth-quarter and full-year 2024 results will be largely in line with or above its prior guidance, and that management committed on January 28, 2025 to a restructuring plan with workforce reductions across all businesses and functions. The company expects pre-tax charges of $95 million to $115 million, mostly in 2025, which will weigh on reported profit while the cuts aim to streamline the organization.
Q4 and full-year 2024 results expected to be largely in line with or above guidance given October 31, 2024
Restructuring committed January 28, 2025, with workforce reductions across all businesses and functions
Pre-tax charges of approximately $95 million to $115 million, primarily in 2025, including about $19 million in Q4 2024
Most workforce reductions expected in fiscal 2025, with some in 2026, subject to local laws
The Hartford reported fourth quarter 2024 net income available to common stockholders of $848 million ($2.88 per diluted share), up 11% from a year earlier, while core earnings of $865 million ($2.94 per diluted share) fell 7%. For full year 2024, net income rose 24% to $3.1 billion and core earnings rose 11% to $3.1 billion, and the company returned $2.1 billion to stockholders.
Q4 2024 net income available to common stockholders was $848 million ($2.88 per diluted share), up from $766 million in Q4 2023.
Q4 2024 core earnings were $865 million ($2.94 per diluted share), down from $935 million in Q4 2023.
Q4 2024 included a $203 million pre-tax charge for asbestos and environmental reserves, of which $62 million was ceded to the A&E retroactive reinsurance treaty, and a $58 million pre-tax benefit from the Navigators ADC deferred gain amorti
For full year 2024, net income was $3.1 billion ($10.35 per diluted share) and core earnings were $3.1 billion ($10.30 per diluted share).
VIAVI reported preliminary fiscal second-quarter results for the quarter ended December 28, 2024, with net revenue of $270.8 million, up 6.4% year over year. GAAP net income fell 15.0% to $9.1 million, while non-GAAP diluted EPS rose 18.2% to $0.13. The company also guided third-quarter net revenue to $276 million to $288 million and non-GAAP EPS to $0.10 to $0.13, and said the results are preliminary until it files its Form 10-Q.
Net revenue of $270.8 million, up $16.3 million or 6.4% year over year; Network Enablement revenue rose 15.1% to $179.0 million
GAAP diluted EPS of $0.04, down $0.01 or 20.0% year over year; non-GAAP diluted EPS of $0.13, up $0.02 or 18.2%
Third-quarter fiscal 2025 guidance: net revenue of $276 million to $288 million and non-GAAP EPS of $0.10 to $0.13
Acquisition of Inertial Labs, Inc. completed January 28, 2025; results remain preliminary pending the Form 10-Q
Kirby reported fourth quarter 2024 results. GAAP net earnings attributable to Kirby fell to $42.8 million, or $0.74 per share, from $61.9 million, or $1.04 per share, a year earlier, after a $56.3 million non-cash impairment charge. Excluding one-time items, adjusted earnings were $74.9 million, or $1.29 per share, and revenues rose slightly to $802.3 million, and the company expects 2025 earnings per share growth of 15% to 25%.
Q4 2024 GAAP EPS $0.74 vs. $1.04 in Q4 2023; adjusted EPS $1.29, up 24% year over year
Q4 revenues $802.3 million vs. $799.2 million in Q4 2023
$56.3 million non-cash impairment in Distribution and Services, mainly conventional diesel fracturing equipment inventory
2025 outlook: earnings per share growth of 15% to 25% year over year; operating cash flow of $620 million to $720 million
Berkshire Hills Bancorp reported fourth-quarter 2024 GAAP net income of $19.7 million, or $0.46 per share, down from $37.5 million, or $0.88 per share, in the prior quarter. Operating earnings rose 5% linked quarter to $26.0 million, or $0.60 per share, but GAAP results included $6.6 million in non-operating expenses related primarily to the pending merger with Brookline Bancorp.
Q4 2024 GAAP EPS $0.46 vs $0.88 in Q3 2024; operating EPS $0.60, up 3% linked quarter and 28% year over year
Total net revenue $110.2 million in Q4 2024 vs $125.6 million in Q3 2024 and $80.0 million in Q4 2023
FY2024 GAAP EPS $1.43 vs $1.60 in 2023; FY2024 operating EPS $2.22, up 4%
Management held a conference call on January 30, 2025 to discuss results and provide guidance; the filing does not state guidance figures
Cullen/Frost reported fourth-quarter 2024 net income available to common shareholders of $153.2 million, up from $100.9 million a year earlier, when results included a $51.5 million FDIC surcharge. For full-year 2024, net income available to common shareholders fell 2.6% to $575.9 million, and diluted EPS was $8.87 versus $9.10 in 2023. The board also authorized a $150 million share repurchase program running through January 28, 2026.
Q4 2024 net income available to common shareholders was $153.2 million, up $52.3 million from $100.9 million in Q4 2023
Q4 2024 diluted EPS was $2.36, compared with $1.55 in Q4 2023
Full-year 2024 net income available to common shareholders was $575.9 million, down 2.6% from $591.3 million in 2023
Board authorized up to $150 million in common stock repurchases through January 28, 2026, and declared a first-quarter dividend of $0.95 per common share payable March 14, 2025
Schneider National reported fourth-quarter 2024 operating revenues of $1.3 billion, down 2% from a year earlier, while income from operations rose 35% to $42.4 million and diluted EPS rose to $0.18 from $0.15. The company guided to 2025 adjusted diluted EPS of $0.90 to $1.20, but full-year 2024 net income fell to $117.0 million from $238.5 million.
Q4 2024 operating revenues were $1.3 billion versus $1.4 billion in Q4 2023; income from operations was $42.4 million versus $31.3 million.
Diluted EPS was $0.18 versus $0.15; adjusted diluted EPS was $0.20 versus $0.16.
Full-year 2024 net income was $117.0 million versus $238.5 million, and diluted EPS was $0.66 versus $1.34.
2025 guidance calls for adjusted diluted EPS of $0.90 to $1.20 and net capital expenditures of $400 million to $450 million; the quarter included about $7.0 million of claims reserve expense.
Darling Ingredients issued a statement on fourth quarter and fiscal 2024 results for its 50/50 Diamond Green Diesel (DGD) joint venture, whose figures were reported by its partner Valero. DGD's renewable diesel segment earned about $170 million in operating income in the quarter, but a lower of cost-or-market valuation adjustment of about $118 million reduced results, and the company's full-year 2024 figures also include a $176 million adjustment. The filing does not include consolidated revenue, earnings per share or 2025 guidance; the company will release full results and outlook on February 6, 2025.
DGD Q4 2024 EBITDA per gallon was $0.40, or $0.81 excluding the lower of cost-or-market adjustment
DGD full-year 2024 EBITDA per gallon was $0.46, or $0.60 excluding the adjustment
DGD sold or shipped 292.8 million gallons in Q4 2024 and 1.25 billion gallons for full-year 2024
Full fourth quarter and fiscal 2024 results and 2025 outlook are scheduled for release and a conference call on February 6, 2025
National Fuel Gas reported fiscal first-quarter 2025 results for the quarter ended December 31, 2024. GAAP net income fell to $45.0 million ($0.49 per share) from $133.0 million ($1.44 per share) after $104.6 million in after-tax impairment charges in its Exploration & Production segment, while adjusted operating results rose 14% to $151.9 million ($1.66 per share). The company raised its fiscal 2025 adjusted EPS guidance to $6.50 to $7.00 from $5.50 to $6.00, citing higher forecasted natural gas prices.
GAAP net income of $45.0 million, or $0.49 per share, versus $133.0 million, or $1.44 per share, a year earlier
Impairment charges of $104.6 million after tax, mainly a full cost ceiling test write-down at Seneca
Adjusted operating results of $151.9 million, or $1.66 per share, up 14% from the prior year
Fiscal 2025 adjusted EPS guidance raised to $6.50 to $7.00 from $5.50 to $6.00; NYMEX gas price assumption raised to $3.50 per MMBtu from $2.80
ManpowerGroup reported fourth-quarter 2024 revenue of $4.4 billion, down 5% as reported, and diluted EPS of $0.47 versus a loss of $1.73 a year earlier, which reflected large prior-year charges. Excluding restructuring, pension, and Austria-related charges, quarterly EPS was $1.02, down 27% in constant currency, and the company guided first-quarter 2025 diluted EPS to $0.47 to $0.57.
Q4 2024 revenue was $4.4 billion, down 5% as reported and down 3% in constant currency; net earnings were $22.5 million versus a net loss of $84.5 million a year earlier.
Full-year 2024 revenue was $17.9 billion, down 6%, while diluted EPS was $3.01 versus $1.76 in 2023; adjusted EPS was $4.55.
First-quarter 2025 diluted EPS is guided to $0.47 to $0.57, including an estimated 6 cents unfavorable currency impact and a 36% effective tax rate.
The company repurchased $34 million of common stock in the fourth quarter.
Parker Hannifin reported fiscal second-quarter 2025 results for the quarter ended December 31, 2024, with net sales of $4.74 billion, down from $4.82 billion a year earlier, while diluted EPS rose 39% to $7.25 on a reported basis. The company said the reported profit increase was helped by gains on divestitures, and adjusted EPS rose 6% to $6.53. The company also updated its fiscal 2025 guidance, which now calls for sales growth of (2%) to 1% and EPS of $24.46 to $25.06.
Net sales were $4.74 billion versus $4.82 billion a year earlier; organic sales growth was 1%.
Diluted EPS was $7.25 versus $5.23; adjusted EPS was $6.53 versus $6.15, up 6%.
Net income was $949 million, including a $249.7 million gain on divestitures in the quarter.
Fiscal 2025 guidance: sales growth of (2%) to 1% and EPS of $24.46 to $25.06, or $26.40 to $27.00 adjusted.
S&T Bancorp reported fourth-quarter 2024 net income of $33.1 million, or $0.86 per diluted share, up slightly from $32.6 million in the third quarter but down from $37.0 million, or $0.96 per share, a year earlier. For full year 2024, net income was $131.3 million, or $3.41 per diluted share, compared with $144.8 million, or $3.74, in 2023. The board also approved a quarterly dividend of $0.34 per share, up $0.01 from a year earlier.
Q4 2024 net income $33.1 million ($0.86 diluted EPS) vs. $32.6 million ($0.85) in Q3 2024 and $37.0 million ($0.96) in Q4 2023
Full year 2024 net income $131.3 million ($3.41 EPS) vs. $144.8 million ($3.74 EPS) in 2023
Q4 2024 net interest income $83.3 million, down $1.2 million from Q3 2024; total assets $9.7 billion at December 31, 2024
Dividend of $0.34 per share payable February 27, 2025 to shareholders of record on February 13, 2025
Tractor Supply reported fourth-quarter 2024 net sales up 3.1% to $3.77 billion, but diluted EPS fell 3.3% to $0.44 and net income fell 4.6%. For fiscal 2024, net sales rose 2.2% to $14.88 billion and diluted EPS rose 1.1% to $2.04, and the company guided to fiscal 2025 diluted EPS of $2.10 to $2.22 and net sales growth of 5% to 7%.
Q4 2024 net sales rose 3.1% to $3.77 billion; comparable store sales rose 0.6%.
Q4 2024 net income fell 4.6% to $236.4 million; diluted EPS was $0.44 versus $0.46 a year earlier.
Fiscal 2024 diluted EPS was $2.04, up from $2.02 in fiscal 2023.
Fiscal 2025 guidance: net sales up 5% to 7%, operating margin 9.6% to 10.0%, diluted EPS $2.10 to $2.22.
A. O. Smith reported full-year 2024 net sales of $3.8 billion, down 1%, and diluted EPS of $3.63, down 2%, with fourth-quarter EPS down 18%. The company also gave 2025 guidance of $3.60 to $3.90 in diluted EPS, a range it describes as slightly higher than 2024 at the midpoint, which shareholders will weigh against the weaker 2024 results.
Full-year 2024 net sales were $3.8 billion, down 1%, and net earnings were $533.6 million, down 4%.
Fourth-quarter 2024 net sales were $912.4 million, down 8%, and diluted EPS was $0.75, down 18% from $0.92.
2025 outlook projects net sales of $3.8 billion to $3.9 billion and diluted EPS of $3.60 to $3.90.
The board approved a $0.34 per share dividend payable February 18, 2025, and the company expects 2025 share repurchases of about $400 million.
Cardinal Health reported fiscal second-quarter 2025 revenue of $55.3 billion, down 4% from a year earlier, though revenue rose 16% excluding a previously communicated large customer contract expiration. Non-GAAP diluted EPS rose 2% to $1.93, and the company raised its fiscal 2025 non-GAAP EPS guidance to $7.85 to $8.00 while completing its majority acquisition of GI Alliance.
Q2 revenue $55.3 billion, down 4%; GAAP diluted EPS $1.65, up 10%; non-GAAP diluted EPS $1.93, up 2%
Fiscal 2025 non-GAAP EPS guidance raised to $7.85 to $8.00, from $7.75 to $7.90
Interest and other expense outlook raised to $200 million to $230 million, from $140 million to $170 million
GMPD segment profit guidance lowered to $130 million to $150 million, from $140 million to $175 million, due to a WaveMark receivables write-off
Asbury Automotive reported fourth quarter 2024 revenue of $4.5 billion, up 18%, and net income of $129 million, up from $56 million a year earlier. Adjusted net income fell 2% to $143 million, and full-year 2024 diluted EPS fell 25% to $21.50, so the results point in mixed directions for shareholders.
Q4 2024 total revenue of $4.5 billion, an increase of 18%; GAAP diluted EPS of $6.54 versus $2.70 in Q4 2023
Q4 2024 adjusted diluted EPS of $7.26 versus $7.12 in Q4 2023, a 2% decrease in adjusted net income to $143 million
Full-year 2024 net income of $430 million ($21.50 per diluted share) versus $603 million ($28.74) in 2023
Approximately 830,000 shares repurchased for $183 million in 2024; about $276 million remained on the authorization at December 31, 2024
Dover reported fourth quarter 2024 revenue of $1.9 billion, up 1%, while GAAP earnings from continuing operations fell 8% to $238 million. Adjusted diluted EPS rose 1% to $2.20, and the company guided 2025 adjusted EPS from continuing operations to $9.30 to $9.50 on 2% to 4% revenue growth.
Q4 2024 GAAP diluted EPS from continuing operations was $1.72, down 7% from $1.84; adjusted diluted EPS was $2.20, up 1%.
Full-year 2024 revenue was $7.7 billion, up 1%; GAAP diluted EPS from continuing operations was $10.09, up 50%, including a $597.8 million gain on dispositions.
2025 guidance: GAAP EPS from continuing operations of $8.16 to $8.36 and adjusted EPS of $9.30 to $9.50, based on revenue growth of 2% to 4%.
Management will discuss results on a webcast and conference call on January 30, 2025, at 9:00 a.m. Eastern Time.
Dow approved targeted cost actions, including a global workforce reduction of about 1,500 roles, to offset ongoing macroeconomic weakness. The company expects $250 million to $325 million in severance and related charges in the first quarter of 2025, plus $20 million to $30 million in implementation costs, with most of the $1 billion in targeted savings achieved on an annual run-rate basis.
Workforce reduction of approximately 1,500 roles globally, approved by the Board on January 27, 2025
Severance and related charges of $250 million to $325 million to be recorded in Q1 2025, with cash payments mostly over the next two years
Implementation costs of $20 million to $30 million, expensed as incurred
Targets $500 million to $700 million reduction in direct costs, mainly purchased services and third-party contract labor
The Cigna Group reported fourth quarter and full-year 2024 results on January 30, 2025. Full-year revenue rose 27% to $247.1 billion and adjusted income rose 4% to $7.7 billion, but fourth-quarter adjusted income fell 8% on higher stop loss medical costs at Cigna Healthcare, and GAAP net income fell to $3.4 billion from $5.2 billion after a $2.7 billion VillageMD impairment. The company projects 2025 adjusted income of at least $7.9 billion, or $29.50 per share, and raised its quarterly dividend 8% to $1.51 per share.
Q4 2024 shareholders' net income was $1.4 billion ($5.13 per share), versus $1.0 billion ($3.49 per share) in Q4 2023; Q4 adjusted income was $1.8 billion ($6.64 per share), versus $2.0 billion ($6.79 per share).
Full-year 2024 shareholders' net income of $3.4 billion ($12.12 per share) included a non-cash after-tax loss of $2.7 billion ($9.53 per share) tied to the VillageMD impairment.
2025 adjusted income from operations is projected at least $7.9 billion, or at least $29.50 per share.
Quarterly dividend raised 8% to $1.51 per share, payable March 20, 2025; total share repurchase authorization is $10.3 billion after a $6.0 billion increase.
UPS reported fourth-quarter 2024 revenue of $25.3 billion, up 1.5% from a year earlier, and diluted EPS of $2.01 on a GAAP basis, compared with $1.87 a year earlier. The company also forecast 2025 consolidated revenue of about $89.0 billion, below its $91.1 billion for 2024, and an operating margin of about 10.8%, after announcing an agreement in principle to cut volume from its largest customer by more than 50% by the second half of 2026.
Q4 2024 consolidated revenue was $25.3 billion, up 1.5%; operating profit was $2.9 billion, up 18.1%
GAAP diluted EPS was $2.01 versus $1.87 a year earlier; non-GAAP adjusted diluted EPS was $2.75 versus $2.47
2025 outlook: revenue of about $89.0 billion and operating margin of about 10.8%, versus full-year 2024 revenue of $91.1 billion
Efficiency Reimagined and network reconfiguration target about $1.0 billion in annualized savings; Q4 charges totaled $639 million, or $0.74 per diluted share
Flagstar Financial reported a fourth-quarter 2024 GAAP net loss attributable to common stockholders of $168 million, or $0.41 per diluted share, compared with $289 million, or $0.79 per share, in the third quarter of 2024. For the full year 2024, the net loss attributable to common stockholders was $1,125 million, or $3.40 per diluted share, compared with $112 million, or $0.49 per share, in 2023. The quarterly loss narrowed, but the full-year loss widened.
Q4 2024 GAAP net loss attributable to common stockholders: $168 million, or $0.41 per diluted share, vs. $289 million, or $0.79, in Q3 2024
Q4 2024 adjusted net loss attributable to common stockholders: $138 million, or $0.34 per diluted share
Full-year 2024 net loss attributable to common stockholders: $1,125 million, or $3.40 per diluted share, vs. $112 million, or $0.49, in 2023
Provision for credit losses fell 55% to $108 million in Q4 2024 from Q3 2024; CET1 capital ratio rose to 11.9%
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
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
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.
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.
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.
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.
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.
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
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.
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
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