1,027 material Form 8-K filings that 835 companies we cover made with the SEC in February 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).
NW Natural Holdings reported that 2024 net income fell 16% to $78.9 million, or $2.03 per share, from $93.9 million, or $2.59 per share, in 2023, and annual operating revenue fell 4% to $1.15 billion. Excluding a non-cash regulatory disallowance and SiEnergy transaction costs, adjusted EPS was $2.33. The company also initiated 2025 GAAP EPS guidance of $2.66 to $2.86, which shareholders will weigh against the lower 2024 results.
2024 net income $78.9 million ($2.03 per share) vs. $93.9 million ($2.59 per share) in 2023; adjusted EPS $2.33
Fourth-quarter operating revenue rose 4% to $370.9 million, while fourth-quarter diluted EPS was $1.12 vs. $1.21
2025 GAAP EPS guidance $2.66 to $2.86; adjusted EPS guidance $2.75 to $2.95; long-term EPS growth target of 4% to 6% reaffirmed
Quarterly dividend of $0.49 per share paid Feb. 14, 2025; indicated annual rate $1.96 per share
Assured Guaranty reported fourth quarter 2024 net income attributable to the company of $18 million, or $0.35 per diluted share, down from $376 million, or $6.40 per share, a year earlier. The prior-year quarter included a $208 million benefit from tax law changes, and full-year 2024 net income fell to $376 million, or $6.87 per share, from $739 million, or $12.30 per share. For shareholders, the decline in reported earnings is large, though the company also repurchased $502 million of shares in 2024.
Q4 2024 adjusted operating income was $66 million, or $1.27 per share, versus $338 million, or $5.75 per share, in Q4 2023.
Full-year 2024 adjusted operating income was $389 million, or $7.10 per share, versus $648 million, or $10.78 per share, in 2023.
Q4 2024 total revenues were $156 million, versus $327 million in Q4 2023; full-year revenues were $872 million, versus $1,373 million.
As of February 27, 2025, the company was authorized to buy back about $276 million of its common shares, and it expects a gain of about $103 million in Q1 2025 from the LBIE litigation.
Metallus reported a fourth-quarter 2024 net loss of $21.4 million, or $0.50 per diluted share, compared with net income of $1.3 million, or $0.03 per share, a year earlier. Full-year 2024 net income fell to $1.3 million from $69.4 million, and the company expects first-quarter 2025 adjusted EBITDA to be higher than the fourth quarter of 2024.
Q4 2024 net sales were $240.5 million, down 27% from $328.1 million in Q4 2023 but up 6% from $227.2 million in Q3 2024.
Q4 2024 adjusted EBITDA was $8.3 million, compared with $35.7 million in Q4 2023.
Full-year 2024 net sales were $1.1 billion, down 20% from 2023, and operating cash flow was $40.3 million.
The company repurchased $37.6 million of common shares in 2024 and has $102.8 million remaining on its share repurchase program.
Mosaic reported fourth quarter and full year 2024 results. Full-year net sales fell 19% to $11.1 billion and net income fell 85% to $175 million, with a $642 million foreign exchange loss weighing on results. Management expects phosphate and potash volumes to recover in 2025 and gave production, sales volume, price and capital expenditure assumptions for the year.
Q4 2024 net income was $169 million, down from $365 million in Q4 2023; Q4 adjusted EBITDA was $594 million versus $646 million
Full-year 2024 adjusted EBITDA was $2.2 billion, down 20% from 2023; full-year diluted EPS was $0.55
Notable items reduced 2024 EPS by $1.43, mainly a $642 million foreign currency transaction loss, partly offset by a $522 million Ma'aden gain
2025 guidance includes potash production of 8.7-9.1 million tonnes and phosphate production of 7.2-7.6 million tonnes, with capital expenditures of $1.2-1.3 billion
Xencor reported fourth-quarter and full-year 2024 results. Full-year revenue fell to $110.5 million from $174.6 million, and the net loss attributable to Xencor widened to $232.6 million, or $(3.58) per share, from $133.1 million, or $(2.20) per share. For shareholders, the filing also gives a 2025 year-end cash guidance range of $535 million to $585 million.
Q4 2024 revenue was $52.8 million, up from $51.0 million, driven mainly by Amgen and Novartis milestone revenue
Q4 2024 net loss attributable to Xencor was $45.6 million, or $(0.62) per share, versus $26.1 million, or $(0.43), a year earlier
Cash, cash equivalents and marketable debt securities were $706.7 million at December 31, 2024, up from $697.0 million
Company expects to end 2025 with between $535 million and $585 million in cash and marketable debt securities
On February 27, 2025, Viatris reported fourth quarter and full-year 2024 results and issued 2025 guidance. Full-year 2024 total revenues were $14.7 billion, down 5% as reported, and the U.S. GAAP net loss was $634.2 million, compared with net earnings of $54.7 million in 2023. The company guided 2025 total revenues to $13.5 billion to $14.0 billion and adjusted EPS to $2.12 to $2.26, and said an FDA import alert at its Indore facility is expected to reduce 2025 total revenues by about $500 million and adjusted EBITDA by about $385 million.
Full-year 2024 total revenues were $14.7 billion, down 5% as reported; adjusted EPS was $2.65, versus $2.93 in 2023.
U.S. GAAP net loss was $(634.2) million for 2024, compared with net earnings of $54.7 million in 2023.
2025 guidance: total revenues of $13.5 billion to $14.0 billion and adjusted EPS of $2.12 to $2.26.
Indore facility impact is estimated at about $500 million to 2025 total revenues and about $385 million to adjusted EBITDA; the company plans $500 million to $650 million in 2025 share repurchases.
AAON reported fourth-quarter 2024 net sales down 2.9% to $297.7 million and diluted EPS down 46.4% to $0.30 from $0.56, with AAON Oklahoma sales down 16.1%. Full-year 2024 net sales rose 2.7% to $1.2 billion, backlog ended the year at $867.1 million, up 70.0%, and management expects margins to stay under pressure early in 2025. The Board also authorized up to $100.0 million in open-market share repurchases.
Q4 gross profit fell 30.5% to $77.6 million and operating income fell 53.9% to $29.4 million.
Full-year 2024 net sales rose 2.7% to $1.2 billion, while diluted EPS fell 5.2% to $2.02.
Backlog was $867.1 million at December 31, 2024, up 70.0% from a year earlier.
The Board authorized up to $100.0 million in share repurchases, to be executed based on market conditions.
Papa John's reported fourth quarter 2024 results, with total revenues of $530.8 million, down 7.1% from a year earlier, and diluted earnings per share of $0.44 versus $0.79. The company also introduced 2025 guidance, including system-wide sales growth of 2% to 5% and Adjusted EBITDA of $200 million to $220 million, giving shareholders its first full outlook for the year.
Q4 2024 total revenues of $530.8 million, down 7.1%; about $41 million of the decline was tied to the extra week of operations in Q4 2023
North America comparable sales fell 4% in Q4 2024, while International comparable sales rose 2%
Q4 2024 diluted EPS was $0.44 vs $0.79; adjusted diluted EPS was $0.63 vs $0.91
2025 guidance: system-wide sales up 2% to 5%, Adjusted EBITDA $200 million to $220 million, capital expenditures $75 million to $85 million
Ovintiv reported a fourth-quarter 2024 net loss of $60 million, or $0.23 per diluted share, including a $350 million after-tax non-cash impairment. Full-year 2024 net earnings were $1.1 billion, or $4.21 per diluted share, down from $2.1 billion in 2023, and the Board declared a $0.30 quarterly dividend per share.
Q4 2024 net loss of $60 million, or $0.23 per diluted share, including a $350 million after-tax non-cash ceiling test impairment
Full-year 2024 net earnings of $1.1 billion, or $4.21 per diluted share, versus $2.1 billion ($7.90 per diluted share) in 2023
Full-year 2024 Non-GAAP Free Cash Flow of $1.7 billion; 2025 capital program of $2.15 to $2.25 billion
Quarterly dividend of $0.30 per share, payable March 31, 2025, to holders of record on March 14, 2025
Albany International reported fourth-quarter 2024 net revenues of $286.9 million, down 11.3% from a year earlier, and net income attributable to the company of $17.7 million ($0.56 per share) versus $30.5 million ($0.97 per share). The board also authorized a share repurchase program of up to $250 million, and the company gave initial 2025 guidance including total revenue of $1.165 to $1.265 billion and diluted EPS of $3.00 to $3.40.
Q4 2024 net revenues were $286.9 million, down 11.3%; adjusted EBITDA was $50.0 million, down 33.4% from $75.0 million
Full-year 2024 net revenues were $1.23 billion, up from $1.15 billion; full-year diluted EPS was $2.80 versus $3.55 in 2023
Board authorized a new share repurchase program of up to $250 million, superseding the current program
Initial 2025 guidance: total revenue of $1.165 to $1.265 billion, total adjusted EBITDA of $240 to $260 million, diluted EPS of $3.00 to $3.40
MYR Group reported fourth-quarter 2024 revenue of $829.8 million, down 17.4% from a year earlier, and net income of $16.0 million, or $0.99 per diluted share, versus $1.43 a year earlier. For full-year 2024, revenue fell 7.7% to $3.36 billion and net income fell to $30.3 million, or $1.83 per diluted share, from $5.40 in 2023. The board also approved a $75.0 million share repurchase program that expires on September 5, 2025, which the company intends to fund with cash on hand and credit facility borrowings.
Q4 2024 revenue was $829.8 million, down $174.4 million from Q4 2023; net income was $16.0 million, or $0.99 per diluted share, versus $1.43
Full-year 2024 revenue was $3.36 billion, down 7.7%; net income was $30.3 million, or $1.83 per diluted share, versus $5.40 in 2023
Backlog was $2.58 billion at December 31, 2024, compared with $2.60 billion at September 30, 2024
Repurchase program authorizes up to $75.0 million of common stock through September 5, 2025, or until funds are exhausted
Par Pacific reported a fourth-quarter 2024 net loss of $55.7 million, or $1.01 per diluted share, compared with net income of $289.3 million, or $4.77 per diluted share, a year earlier. For full year 2024, the company posted a net loss of $33.3 million, versus net income of $728.6 million in 2023, and Adjusted EBITDA fell to $238.7 million from $696.2 million. The company also said its Wyoming refinery has been idled since a February 12, 2025 operational incident and is expected to restart in mid-April at reduced throughput.
Q4 2024 revenues were $1.83 billion, down from $2.18 billion in Q4 2023
Full year 2024 net loss of $33.3 million, or $0.59 per diluted share, versus net income of $728.6 million in 2023
Repurchased 5 million common shares in 2024, or 9% of year-end shares outstanding
Wyoming refinery restart expected in mid-April 2025 at reduced throughput, with full operations by end of May
ZoomInfo reported fourth-quarter 2024 revenue of $309.1 million, down 2% from a year earlier, and GAAP operating income of $30.9 million, down 56%. For full-year 2025 it guided to revenue of $1.185 billion to $1.205 billion, below 2024 revenue of $1.214 billion, while adjusted EPS guidance of $0.95 to $0.97 was roughly in line with 2024's $0.96. The board also approved an additional $500 million share repurchase authorization.
Q4 2024 GAAP revenue $309.1 million, down 2% year over year; GAAP diluted EPS $0.04 versus a $0.01 loss a year earlier
Full-year 2024 GAAP revenue $1,214.3 million, down 2%; GAAP diluted EPS $0.08 versus $0.27 in 2023
FY 2025 guidance: revenue $1.185 billion to $1.205 billion; adjusted EPS $0.95 to $0.97
Board approved an additional $500 million share repurchase authorization on February 21, 2025
LGI Homes reported fourth-quarter 2024 results in which home sales revenue, net income and diluted EPS all declined from a year earlier. For full year 2024, revenue fell 6.6% to $2.2 billion and net income fell 1.6% to $196.1 million, while gross margin rose to 24.2%. The company also issued 2025 guidance for 6,200 to 7,000 home closings and cited expected affordability challenges, which matters to shareholders because it sets a near-term outlook for sales and profitability.
Q4 2024: home sales revenues decreased 8.4% to $557.4 million; net income decreased 2.3% to $50.9 million, or $2.15 diluted EPS
Full year 2024: home closings of 6,131 including a bulk sale of 103 leased homes; net income of $196.1 million, or $8.30 diluted EPS
Gross margin rose 120 basis points to 24.2% for 2024; 2025 guidance projects gross margin of 23.2% to 24.2%
2025 guidance: 6,200 to 7,000 home closings and average sales price of $360,000 to $370,000
NexPoint Residential Trust reported fourth-quarter 2024 net loss attributable to common stockholders of $26.9 million, or $1.06 per diluted share, compared with net income of $18.4 million, or $0.70 per share, a year earlier. The company also issued initial 2025 guidance calling for a full-year loss of $1.05 to $1.33 per diluted share and Core FFO of $2.56 to $2.83 per diluted share, which shareholders should weigh against 2024 results of $0.04 per share in earnings and $2.79 per share in Core FFO.
Q4 2024 total revenues were $63.8 million, down from $68.9 million in Q4 2023; Q4 FFO was a loss of $6.5 million, or $0.25 per diluted share.
Full-year 2024 net income attributable to common stockholders was $1.1 million, or $0.04 per diluted share, versus $44.3 million, or $1.69 per diluted share, in 2023.
2025 guidance: earnings per diluted share of $(1.33) to $(1.05); Core FFO per diluted share of $2.56 to $2.83, with a midpoint of $2.70 versus $2.79 in 2024.
Same Store NOI guidance for 2025 ranges from -3.5% to 0.5%, with a midpoint of -1.5%.
Cleveland-Cliffs reported a full-year 2024 GAAP net loss of $708 million, or $1.57 per diluted share, compared with 2023 net income of $450 million, as revenue fell to $19.2 billion from $22.0 billion. CEO Lourenco Goncalves blamed weak steel demand and unsustainably low steel prices from imports, and said the fourth quarter should be the trough. The filing gives 2025 expectations that now include Stelco, but no 2025 revenue or earnings forecast.
Full-year 2024 revenues were $19.2 billion, down from $22.0 billion in 2023.
Full-year 2024 GAAP net loss was $708 million ($1.57 per diluted share), versus 2023 net income of $450 million ($0.78 per diluted share).
Fourth-quarter 2024 GAAP net loss was $434 million ($0.92 per diluted share); Adjusted EBITDA was a $81 million loss, versus $279 million a year earlier.
2025 expectations include capital expenditures of approximately $700 million and steel unit cost reductions of approximately $40 per net ton versus 2024.
HEI reported a 2024 net loss of $1,426 million, or $11.23 per share, compared with net income of $199 million, or $1.81 per share, in 2023. The result reflects a $1,875 million utility charge for estimated wildfire liabilities from tort-related claims as of December 31, 2024; excluding special items, core income from continuing operations was $124 million, or $0.98 per share, versus $152 million, or $1.38 per share, a year earlier. The filing also cites a February 10, 2025 Hawaii Supreme Court decision that the company says clarifies the path toward resolving the Maui wildfire tort litigation, and the utility dividend to HEI remains suspended.
Full-year 2024 net loss of $1,426 million ($11.23 per share) vs. net income of $199 million ($1.81 per share) in 2023
Core income from continuing operations of $124 million ($0.98 per share) vs. $152 million ($1.38 per share) in 2023
Fourth quarter 2024 net loss of $68 million ($0.40 per share) vs. net income of $49 million ($0.44 per share) in Q4 2023
Utility recorded a $1,875 million loss from accrual of estimated wildfire liabilities as of December 31, 2024, net of insurance recoveries
Boise Cascade reported fourth-quarter and full-year 2024 results on February 20, 2025, with net income and sales both lower than in 2023. Lower EWP and plywood prices drove a sharp drop in Wood Products segment income, while Building Materials Distribution income was roughly flat in the quarter. Shareholders face a weaker earnings base, though the company reported $1,109.0 million of total available liquidity at year end and projected 2025 capital expenditures of $220 million to $240 million.
Q4 2024 net income was $68.9 million, or $1.78 per diluted share, down from $97.5 million, or $2.44, in Q4 2023; sales were $1.6 billion, down 5%.
Full-year 2024 net income was $376.4 million, or $9.57 per diluted share, down 22% from $483.7 million in 2023; sales were $6.7 billion, down 2%.
Wood Products segment income fell to $33.6 million in Q4 2024 from $64.1 million, due primarily to lower EWP and plywood sales prices.
The board declared a quarterly dividend of $0.21 per share payable March 19, 2025; about 250,000 shares were repurchased in January 2025 for about $30 million.
AMN Healthcare reported fourth quarter 2024 revenue of $735 million, down 10% from a year earlier, and a net loss of $188 million, or $4.90 per diluted share, driven by a $222 million non-cash goodwill impairment. The company also guided first quarter 2025 revenue to $660 million to $680 million, which it said is 17% to 20% lower than the year-ago period.
Q4 2024 revenue was $735 million, down 10% year over year; full year 2024 revenue was $2.98 billion, down 21%.
Q4 2024 GAAP net loss was $188 million ($4.90 per diluted share), versus net income of $12 million a year earlier, due to a $222 million goodwill impairment.
Adjusted diluted EPS was $0.75 in Q4 2024, compared with $1.32 a year earlier.
First quarter 2025 guidance calls for consolidated revenue of $660 million to $680 million and an adjusted EBITDA margin of 7.7% to 8.2%.
Pool Corp reported fiscal 2024 results on February 20, 2025, with net sales down 4% to $5.3 billion and net income down 17% to $434.3 million. The company also issued 2025 diluted EPS guidance of $11.08 to $11.58, which includes an estimated $0.08 tax benefit. Shareholders see lower 2024 sales and profit, with the 2025 outlook as the main forward-looking figure.
2024 net sales fell 4% to $5.3 billion; operating income fell 17% to $617.2 million
2024 diluted EPS was $11.30 versus $13.35 in 2023; $11.07 excluding ASU 2016-09 tax benefits
Fourth quarter 2024 net income fell 27% to $37.3 million; diluted EPS was $0.98 versus $1.32
2025 diluted EPS guidance range is $11.08 to $11.58, including an estimated $0.08 tax benefit
Core Natural Resources reported fourth quarter 2024 results for legacy CONSOL Energy, which merged with Arch Resources in January 2025. Net income fell to $30.8 million from $157.1 million a year earlier, and total revenue and other income fell to $595.3 million from $649.4 million, so headline profit and sales both declined. The board also authorized $1 billion in share repurchases under a new capital return framework, which is significant for shareholders.
Q4 2024 net income was $30.8 million, versus $157.1 million in Q4 2023; basic EPS was $1.04, versus $5.09
Adjusted EBITDA was $170.0 million, including a $67.9 million charge for the 1974 UMWA Pension Plan litigation
Board authorized $1.0 billion in share repurchases and declared a $0.10 per share dividend payable March 17, 2025
Company projects 2025 capital expenditures of $300 million to $330 million and expects Leer South longwall production to resume mid-year
LKQ reported fourth quarter 2024 revenue of $3.4 billion, down 4.1%, and diluted EPS of $0.60, down 13.0% from $0.69. For full year 2024, revenue rose 3.5% to $14.4 billion, but diluted EPS fell 25.4% to $2.62, and the company gave a 2025 outlook with adjusted diluted EPS of $3.40 to $3.70.
Q4 2024 net income was $156 million, compared with $184 million in Q4 2023
Full year 2024 adjusted diluted EPS was $3.48, down 9.1% from $3.83
2025 outlook: adjusted diluted EPS of $3.40 to $3.70 and free cash flow of $0.75 to $0.90 billion
Board declared a quarterly dividend of $0.30 per share, payable March 27, 2025; $1.7 billion remains under the repurchase program
Nordson reported first quarter fiscal 2025 sales of $615 million, down 2.8% from a year earlier, with organic sales down 9%. Diluted EPS was $1.65 versus $1.90, and adjusted diluted EPS was $2.06 versus $2.21. The company guided second quarter sales to $650 million to $690 million and adjusted EPS to $2.30 to $2.50, and said backlog grew about 15% during the quarter.
Q1 sales of $615 million vs. $633 million a year earlier; organic sales fell 9%, with an 8% benefit from acquisitions
GAAP diluted EPS of $1.65 vs. $1.90; adjusted diluted EPS of $2.06 vs. $2.21, a 7% decrease
Q2 fiscal 2025 guidance: sales of $650 million to $690 million and adjusted EPS of $2.30 to $2.50 per diluted share
Backlog rose about $85 million, or 15%, to approximately $670 million; webcast with additional commentary set for February 20, 2025 at 8:30 a.m. ET
Reliance reported fourth-quarter 2024 net sales of $3.13 billion, down 6.3% from a year earlier, and diluted EPS of $1.93 versus $4.70, with non-GAAP EPS of $2.22 versus $4.73. The company said a $5.6 million LIFO expense, compared with $50 million of LIFO income in the third quarter, and a net unfavorable year-end LIFO and tax true-up of $0.74 per share weighed on results against its $2.65 to $2.85 non-GAAP EPS guidance range. For shareholders, the company also guided to first-quarter 2025 non-GAAP EPS of $3.30 to $3.50 and raised its quarterly dividend 9.1% to $1.20.
Full-year 2024 net sales were $13.84 billion, down 6.6%, and diluted EPS was $15.56 versus $22.64 in 2023
Share repurchases totaled a record $1.09 billion in 2024, reducing outstanding shares by 6% year over year
Q1 2025 non-GAAP EPS guidance is $3.30 to $3.50, with tons sold expected up 3.0% to 5.0% from Q1 2024
Quarterly dividend raised to $1.20 per share, payable March 21, 2025 to holders of record as of March 7, 2025
Rogers reported fourth quarter 2024 net sales of $192.2 million, down 8.6% from the prior quarter, and a GAAP net loss of $0.5 million, or $0.03 per diluted share. Adjusted earnings were $0.46 per diluted share, and the company guided first quarter 2025 net sales to $180 million to $195 million, with restructuring charges tied to winding down AES manufacturing in Evergem, Belgium.
Q4 2024 net sales $192.2 million versus $210.3 million in Q3 2024; GAAP operating margin was (2.6)%
Full-year 2024 net sales were $830.1 million, versus $908.4 million in 2023; full-year GAAP net income was $26.1 million
Q1 2025 guidance: net sales $180 million to $195 million; GAAP loss of $0.26 to earnings of $0.04 per diluted share; adjusted $0.10 to $0.40
Restructuring and impairment charges were $16.3 million in Q4 2024, including costs tied to the Evergem, Belgium AES wind-down
Winmark reported fiscal 2024 results for the year ended December 28, 2024, with revenue of $81.3 million, down from $83.2 million in 2023. Net income was $40.0 million, or $10.89 per diluted share, compared with $40.2 million, or $11.04, a year earlier. The company said the decline reflects its May 2021 decision to run off its leasing portfolio, and shareholders see lower revenue and per-share profit in both the year and the fourth quarter.
Full-year revenue was $81,289,100 versus $83,243,500 in 2023.
Full-year net income was $39,954,200, or $10.89 per diluted share, versus $40,178,100, or $11.04 per diluted share.
Fourth-quarter net income was $9,583,100, or $2.60 per diluted share, versus $9,716,800, or $2.64 per diluted share in the prior-year quarter.
Leasing income fell to $1,811,800 for the year from $4,766,200, following the May 2021 decision to run off the leasing portfolio.
SolarEdge reported fourth-quarter 2024 revenue of $196.2 million, down 17% from the prior quarter and down from $316.0 million a year earlier, with a GAAP net loss of $287.4 million, or $5.00 per share, including a $138 million write-down and impairment. For full-year 2024, revenue was $901.5 million against $2.98 billion in 2023, and the GAAP net loss was $1.81 billion. The company also guided first-quarter 2025 revenue to $195 million to $215 million and said it will stop reporting segments.
Q4 2024 revenue $196.2 million, down 17% from $235.4 million in Q3 2024 and from $316.0 million in Q4 2023
Q4 2024 GAAP net loss $287.4 million ($5.00 per share), versus $1.23 billion in Q3 2024 and $162.4 million in Q4 2023
Full-year 2024 GAAP net loss $1.81 billion, versus net income of $34.3 million in 2023; write-downs and impairments totaled $1.17 billion
Q1 2025 guidance: revenue $195 million to $215 million; non-GAAP gross margin 6% to 10%; non-GAAP operating expenses $98 million to $103 million
CVR Energy reported fourth-quarter 2024 net income attributable to stockholders of $28 million, or 28 cents per diluted share, down from $91 million, or 91 cents, a year earlier. Adjusted results moved to a loss of 13 cents per share from adjusted earnings of 65 cents, and full-year net income attributable fell to $7 million, or 6 cents per share, from $769 million, or $7.65. The company attributed the refining decline mainly to lower crack spreads and, to a lesser degree, lower throughput.
Fourth-quarter 2024 net sales were $1.947 billion, compared with $2.202 billion in the fourth quarter of 2023.
Full-year 2024 net income attributable to CVR Energy stockholders was $7 million, or 6 cents per share, versus $769 million, or $7.65 per share, in 2023.
Petroleum Segment adjusted EBITDA was $9 million in the fourth quarter of 2024, compared with $152 million a year earlier; adjusted refining margin was $6.45 per barrel versus $12.91.
The company raised $408 million in the fourth quarter of 2024 through a Term Loan and the sale of its 50% interest in Midway Pipeline, and ended 2024 with $987 million in cash.
Toll Brothers reported first-quarter fiscal 2025 net income of $177.7 million, or $1.75 per diluted share, down from $239.6 million, or $2.25 per share, a year earlier. The company blamed the decline primarily on impairments and a delay in the sale of a stabilized apartment property in one of its joint ventures, and it reaffirmed all key full-year homebuilding guidance.
Home sales revenues were $1.84 billion, down 5%, while delivered homes rose 3% to 1,991.
Net signed contract value was $2.31 billion, up 12%, but management said sales are pressured at the lower end of the market.
Overall impairments were $22.6 million, compared with $1.5 million a year earlier.
Full-year fiscal 2025 guidance was reaffirmed, including 11,200 to 11,600 deliveries; second-quarter deliveries are guided to 2,500 to 2,700 units.
JBG SMITH reported a full-year 2024 net loss of $143.5 million, or $1.65 per diluted share, up from a $80.0 million loss, or $0.78 per share, in 2023. Core FFO fell to $73.9 million ($0.83 per diluted share) from $154.1 million ($1.46) a year earlier, and the company expects earnings to keep declining during the first half of 2025.
Full-year 2024 net loss was $143.5 million ($1.65 per diluted share) versus $80.0 million ($0.78) in 2023.
Fourth-quarter Core FFO was $11.6 million ($0.14 per diluted share), down from $36.1 million ($0.38) a year earlier.
The company expects continued decreases in earnings and higher Net Debt to Annualized Adjusted EBITDA during the first half of 2025.
Share repurchase capacity is about $840 million, and the company repurchased $170.7 million of shares in 2024.
MasterBrand reported fourth-quarter 2024 net sales of $667.7 million, down 1% from a year earlier, and net income of $14.0 million, down 61%. The company also introduced 2025 guidance calling for adjusted EBITDA of $380 million to $410 million and adjusted diluted EPS of $1.40 to $1.57, while noting that tariff impacts beyond those in effect on the release date are not included.
Q4 2024 diluted EPS was $0.11 versus $0.28 in Q4 2023; adjusted diluted EPS was $0.21 versus $0.35
Full-year 2024 net sales were $2.7 billion, down 1%; net income was $125.9 million, down 31%
2025 outlook: adjusted EBITDA of $380 million to $410 million; adjusted diluted EPS of $1.40 to $1.57 (full-year 2024 adjusted diluted EPS was $1.37)
No shares were repurchased in Q4 2024; the company repurchased about 371 thousand shares for about $6.5 million over the full year
UFP Industries reported fourth-quarter 2024 net sales of $1.46 billion, down 4 percent, and net earnings attributable to controlling interest of $68.0 million, down 34 percent. Diluted earnings per share were $1.12 versus $1.62 a year earlier, including impairment and severance charges of about $0.11 per share. Management expects softer demand and a competitive pricing environment to continue through the first half of 2025.
Q4 2024 net sales of $1.46 billion fell 4 percent, driven by a 4 percent decrease in selling prices.
Q4 net earnings attributable to controlling interest were $68.0 million, down 34 percent; diluted EPS was $1.12 versus $1.62.
Fiscal 2024 net sales were $6.7 billion, down 8 percent, with diluted EPS of $6.77 versus $8.07 in fiscal 2023.
Management expects softer demand and competitive pricing through the first half of 2025; the filing gives no numeric guidance.
Bio-Rad reported fourth-quarter 2024 net sales of $667.5 million, down 2.0%, and income from operations of $58.4 million, down from $95.3 million a year earlier. A $976.5 million loss from changes in the fair market value of equity securities and a loan receivable, which the company said substantially contributed to the result, drove a net loss of $715.8 million, and the company also began a restructuring that it expects to cost $45 million to $50 million. Shareholders also face a pending Stilla Technologies acquisition and 2025 guidance for non-GAAP currency-neutral revenue growth of 1.5% to 3.5%.
Q4 2024 net sales were $667.5 million, down 2.0% from $681.2 million; Life Science segment sales fell 5.5% to $275.0 million.
Q4 2024 net loss was $715.8 million, or $25.57 per diluted share, versus net income of $349.7 million in Q4 2023.
Restructuring plan initiated February 7, 2025, to eliminate about 5% of the workforce, with total costs estimated at $45 million to $50 million, $30 million to $35 million of which is expected in Q1 2025.
Company made a binding offer to buy all equity interests in Stilla Technologies, a French corporation, and expects 2025 non-GAAP operating margin of 13.0% to 13.5%.
Cohu reported fourth-quarter 2024 net sales of $94.1 million, down from $137.2 million a year earlier, and a GAAP net loss of $21.4 million, or $0.46 per share. For full year 2024, revenue fell to $401.8 million from $636.3 million and the GAAP net loss was $69.8 million, or $1.49 per share, so shareholders saw both lower sales and larger losses. The company guided first-quarter 2025 sales to $97 million, plus or minus $7 million.
Q4 2024 GAAP net loss of $21.4 million ($0.46 per share) versus a net loss of $2.0 million ($0.04 per share) in Q4 2023
Q4 2024 non-GAAP net loss of $7.1 million ($0.15 per share); full year 2024 non-GAAP net loss of $10.9 million ($0.23 per share)
Q1 2025 sales expected at $97 million, plus or minus $7 million
Company acquired Tignis, Inc., an artificial intelligence process control and analytics software provider; no shares were repurchased in Q4 2024
Warrior Met Coal reported fourth-quarter 2024 net income of $1.1 million, or $0.02 per diluted share, down from $128.9 million, or $2.47 per diluted share, a year earlier. Full-year 2024 net income fell to $250.6 million from $478.6 million, and fourth-quarter total revenues were $297.5 million compared with $363.8 million in the prior-year quarter. The company also issued 2025 guidance, including coal sales of 8.2 to 9.0 million short tons, and declared a regular quarterly dividend of $0.08 per share.
Q4 2024 net income was $1.1 million ($0.02 per diluted share) versus $128.9 million ($2.47) in Q4 2023
Q4 2024 Adjusted EBITDA was $53.2 million versus $163.7 million; average net selling price was $154.54 per short ton versus $234.56
2025 guidance includes coal sales of 8.2 to 9.0 million short tons and cash cost of sales of $117 to $127 per short ton
Quarterly dividend of $0.08 per share, payable March 3, 2025 to holders of record as of February 24, 2025
Xencor's Audit Committee concluded on February 11, 2025 that its 2023 annual report and its three 2024 quarterly reports can no longer be relied upon. The errors involve accounting for a November 2023 royalty transaction with OMERS Life Sciences and the treatment of research and development and state tax items. The company identified material weaknesses in internal control over financial reporting and expects to file amended reports before its 2024 Form 10-K.
The royalty deal with OMERS Life Sciences should be treated as debt, not deferred income; deferred income was overstated by $156.9 million and debt understated by $168.5 million for 2023.
Cash flow from operating activities for 2023 was overstated by $163.0 million, with financing cash flow understated by the same amount; the filing says there is no impact on cash and marketable debt securities.
Tax errors add an uncertain tax position of $5.6 million for 2023 and state income tax expense understated by approximately $2.2 million, excluding interest and penalties.
RSM US LLP recalled its February 28, 2024 audit reports, and the company plans to file amendments to each prior filing.
PHINIA reported fourth-quarter 2024 net sales of $833 million, down 5.6% from a year earlier, and net earnings of $5 million, or $0.12 per diluted share, compared with $33 million, or $0.70 per share, in Q4 2023. For full year 2024, net sales were $3.40 billion and net earnings were $79 million, down from $102 million, and the company guided to 2025 net earnings of $140 million to $170 million. The board also raised the quarterly dividend 8% to $0.27 per share and increased its share repurchase authorization by $200 million.
Q4 2024 net earnings were $5 million, or $0.12 per diluted share, versus $33 million, or $0.70 per share, in Q4 2023.
Full year 2024 net sales were $3.40 billion, down 2.8%, and net earnings were $79 million, versus $102 million in 2023.
2025 guidance: net sales of $3.23 billion to $3.43 billion and net earnings of $140 million to $170 million.
Quarterly dividend raised to $0.27 per share from $0.25; repurchase program increased by $200 million, with about $320 million available.
PBF Energy reported a fourth-quarter 2024 net loss attributable to the company of $289.3 million, or $(2.54) per share, compared with a $48.4 million loss, or $(0.40) per share, a year earlier. Revenue fell to $7.35 billion from $9.14 billion, and the company said a February 1, 2025 fire at its Martinez refinery led to a temporary shutdown, with repair costs and shutdown length not yet estimable and guidance excluding Martinez after January 31, 2025.
Q4 2024 loss from operations was $383.2 million, versus a $47.2 million loss in Q4 2023
Q4 2024 revenues were $7,351.3 million, down from $9,138.7 million a year earlier
Quarterly dividend of $0.275 per share is payable March 14, 2025 to holders of record on February 27, 2025
Full-year 2024 loss from operations was $699.0 million, versus income of $2,951.5 million in 2023
ARMOUR Residential REIT reported unaudited fourth-quarter 2024 results, showing a GAAP net loss to common stockholders of $49.4 million, or $0.83 per share, compared with net income to common of $62.9 million in the prior quarter. Distributable Earnings available to common stockholders fell to $46.5 million, or $0.78 per share, from $52.0 million, or $1.00 per share, and book value per common share declined to $19.07 from $20.76 at September 30, 2024, which matters to shareholders because it reflects the value of their equity stake.
Q4 2024 GAAP net loss to common stockholders was $49.4 million, or $0.83 per common share, versus net income to common of $62.9 million, or $1.21 per share, in Q3 2024.
Distributable Earnings available to common stockholders were $46.5 million, or $0.78 per share, down from $52.0 million, or $1.00 per share, in Q3 2024.
Book value per common share was $19.07 at December 31, 2024, compared with $20.76 at September 30, 2024; total economic return was (4.67)% for Q4 2024.
Common dividends were $0.24 per share per month, or $0.72 per share for Q4 2024, and the company declared $0.24 per share payable February 27, 2025 and March 27, 2025.
QuidelOrtho reported fourth-quarter 2024 revenue of $708 million, down from $743 million, and a GAAP net loss of $153 million. For the full year, revenue fell to $2.78 billion from $3.00 billion, and the net loss was $2.03 billion, driven by a $1.82 billion goodwill impairment charge. The company also issued 2025 guidance of $2.60 billion to $2.81 billion in revenue and $575 million to $615 million in adjusted EBITDA.
Q4 2024 revenue was $708 million versus $743 million; GAAP diluted loss was $2.28 per share versus earnings of $0.10 per share
Full-year 2024 GAAP diluted loss was $30.16 per share, including a goodwill impairment charge of approximately $1.82 billion
Full-year 2024 adjusted diluted EPS was $1.85, down from $4.13; adjusted EBITDA was $543 million versus $723 million
2025 guidance: total revenue $2.60 billion to $2.81 billion, adjusted EBITDA $575 million to $615 million, adjusted diluted EPS $2.07 to $2.57
Sensata reported fourth-quarter 2024 revenue of $907.7 million, down 8.5% from a year earlier, and adjusted EPS of $0.76, down 6.2%. GAAP EPS was $0.04, compared with a loss of $1.34 a year earlier, which reflects a $321.7 million goodwill impairment charge in the prior-year quarter. For the first quarter of 2025, the company guided to revenue of $870 million to $890 million and adjusted EPS of $0.70 to $0.73, both below fourth-quarter 2024 levels.
Q4 2024 revenue was $907.7 million, down $84.8 million or 8.5%; adjusted operating income was $174.9 million, down 4.8%.
Full-year 2024 revenue was $3.93 billion, down 3.0%; adjusted EPS was $3.44, down 4.7%; GAAP EPS was $0.85 versus a loss of $0.03 in 2023.
Q1 2025 guidance: revenue $870 million to $890 million and adjusted EPS $0.70 to $0.73, versus Q4 2024 revenue of $907.7 million and adjusted EPS of $0.76.
CFO Brian Roberts expects full-year 2025 revenue to be organically flat with 2024 at approximately $3.6 billion, after about $300 million of revenue exited in 2024.
IPG Photonics reported fourth-quarter 2024 revenue of $234.3 million, down 22% from a year earlier, and diluted EPS of $0.18 versus $0.89. The company guided to first-quarter 2025 revenue of $210 million to $240 million and said its chief accounting officer, Thomas J. Burgomaster, will retire March 1, 2025, succeeded by Mary E. Buttarazzi.
Q4 2024 revenue $234.3 million, down 22% year over year; net income attributable to the company $7.8 million versus $41.4 million
Full-year 2024 operating loss of $208.3 million and net loss of $181.5 million, including a $190.2 million net loss from divestiture and sale of assets
Q1 2025 guidance: revenue $210 million to $240 million; adjusted EPS $0.05 to $0.35; adjusted EBITDA $19 million to $35 million
Mary E. Buttarazzi named Vice President, Corporate Controller and Chief Accounting Officer effective March 1, 2025
Axcelis reported fourth-quarter 2024 revenue of $252.4 million and diluted EPS of $1.54, and full-year 2024 revenue of $1.02 billion, down from $1.13 billion in 2023. It guided first-quarter 2025 revenue to approximately $185 million and diluted EPS to approximately $0.38, well below fourth-quarter levels. Full-year diluted EPS fell to $6.15 from $7.43, and the company cited a near-term cyclical digestion period among its customers.
Q4 2024 revenue was $252.4 million, down from $310.3 million in Q4 2023 and $256.6 million in Q3 2024
Q4 2024 diluted EPS was $1.54, up from $1.49 in Q3 2024 but down from $2.15 in Q4 2023
Full-year 2024 revenue was $1.02 billion vs. $1.13 billion in 2023; diluted EPS was $6.15 vs. $7.43
Q1 2025 outlook: revenue of approximately $185 million and diluted EPS of approximately $0.38
Amkor Technology reported fourth quarter 2024 net sales of $1.63 billion, down from $1.75 billion a year earlier, and net income attributable to Amkor of $106 million, or $0.43 per diluted share, compared with $118 million, or $0.48, in the prior-year quarter. For full year 2024, net sales were $6.32 billion and diluted earnings per share were $1.43, both lower than in 2023. First quarter 2025 guidance of $1.225 billion to $1.325 billion in net sales and $0.01 to $0.17 per diluted share is below the fourth quarter results.
Q4 2024 net sales $1.63 billion, versus $1.75 billion in Q4 2023 and $1.86 billion in Q3 2024
Full year 2024 net income attributable to Amkor $354 million, or $1.43 per diluted share, versus $360 million, or $1.46, in 2023
Q1 2025 guidance: net income of $3 million to $43 million, or $0.01 to $0.17 per diluted share
Quarterly dividend raised 5% to $0.08269 per share, announced November 13, 2024; cash and short-term investments were $1.65 billion at December 31, 2024
Lattice reported fourth-quarter 2024 revenue of $117.4 million, down 31.2% from a year earlier, and full-year revenue of $509.4 million, down 30.9%. GAAP diluted earnings were $0.12 per share in the quarter, against $0.71 a year earlier, and it guided first-quarter 2025 revenue to $115 million to $125 million. The company also appointed Lorenzo A. Flores as CFO effective February 10, 2025.
Q4 2024 revenue $117.4 million, down 7.6% from Q3 2024 and down 31.2% from Q4 2023; GAAP diluted EPS $0.12 versus $0.71 a year earlier
Full-year 2024 revenue $509.4 million versus $737.2 million in 2023; GAAP diluted EPS $0.44 versus $1.85
Q1 2025 outlook: revenue $115 million to $125 million; non-GAAP diluted EPS $0.20 to $0.24
Lorenzo A. Flores named SVP and CFO effective February 10, 2025, with a $600,000 base salary; Tonya Stevens moves to Chief Accounting Officer
Arrowhead Pharmaceuticals reported results for the fiscal 2025 first quarter ended December 31, 2024. Revenue was $2.5 million versus $3.551 million a year earlier, and the net loss attributable to the company widened to $173.1 million, or $1.39 per diluted share, from $132.9 million, or $1.24 per share. The company said it is funded into 2028 and cited the Sarepta licensing agreement and the plozasiran NDA acceptance as recent progress.
Revenue of $2.5 million for the quarter, compared with $3.551 million a year earlier
Net loss attributable to Arrowhead of $173.1 million, or $1.39 per diluted share, versus $132.9 million, or $1.24 per share, a year earlier
Total cash resources of $552.9 million at December 31, 2024, down from $681.0 million at September 30, 2024
Sarepta agreement provides $825 million upon closing, including $500 million in cash and a $325 million equity investment
Edgewell reported first-quarter fiscal 2025 net sales of $478.4 million, down 2.1%, and a GAAP loss of $0.04 per diluted share, versus earnings of $0.09 a year earlier. The company lowered its full-year GAAP EPS outlook to $2.54 to $2.74 from $2.59 to $2.79, citing foreign currency changes, and said adjusted EPS will be toward the lower end of its $3.15 to $3.35 range. Shareholders also voted at the February 6, 2025 annual meeting, re-electing all ten director nominees and approving the auditor and executive pay proposals.
Net sales were $478.4 million versus $488.9 million a year earlier; organic net sales decreased 1.3%.
GAAP diluted EPS was $(0.04) versus $0.09; adjusted EPS was $0.07 versus $0.24, including a $0.17 unfavorable currency impact.
Full-year fiscal 2025 GAAP EPS outlook was lowered to $2.54 to $2.74 from $2.59 to $2.79; adjusted EPS is now expected toward the lower end of $3.15 to $3.35.
At the February 6, 2025 annual meeting, all ten director nominees were elected and PricewaterhouseCoopers LLP was ratified as auditor.
Proto Labs reported fourth quarter 2024 revenue of $121.8 million, down 2.6% from a year earlier, and a net loss of $0.4 million, or $0.02 per diluted share, compared with net income of $7.0 million a year earlier. Full-year revenue was $500.9 million, down 0.6%, and full-year GAAP earnings were $0.66 per diluted share, flat with 2023. The board also approved a $100 million stock repurchase program.
Q4 2024 revenue was $121.8 million, down 2.6% from $125.0 million in Q4 2023; Q4 net loss was $0.4 million, or $(0.02) per diluted share
Full-year 2024 revenue was $500.9 million, down 0.6%; full-year GAAP net income was $16.6 million, or $0.66 per diluted share, versus $0.66 in 2023
Q1 2025 outlook: revenue between $120 million and $128 million; GAAP diluted EPS between $0.08 and $0.16
New $100 million stock repurchase program approved on February 4, 2025, with no obligation to buy a set amount of shares
Sonos reported first quarter fiscal 2025 revenue of $551 million, down from $613 million a year earlier, and GAAP net income of $50.2 million, down from $80.9 million. The company also disclosed a reorganization and reduction in force affecting about 12% of employees, with expected restructuring charges of $15 million to $18 million, mostly in the second quarter. Shareholders face lower reported profit and a restructuring charge, and the company will provide guidance only on its earnings call.
Revenue of $551 million versus $613 million in the prior-year quarter; Americas revenue was $325 million versus $392 million
GAAP diluted EPS of $0.40 versus $0.64 a year earlier; non-GAAP diluted EPS of $0.64 versus $0.84
Expected restructuring and related charges of $15 million to $18 million, substantially all for employee severance and benefits, mostly in fiscal Q2 2025
No numerical guidance in the release; the company will provide guidance on its first quarter earnings call
Gates Industrial reported fourth-quarter 2024 net sales of $829.4 million, down 3.9% from the prior-year quarter, and net income attributable to shareholders of $36.6 million, or $0.14 per diluted share, versus $0.24 a year earlier. For the full year, net sales fell 4.5% to $3,408.2 million and GAAP diluted EPS was $0.74, down from $0.84, while adjusted EBITDA rose to $761.1 million. The company also introduced 2025 guidance, including adjusted EBITDA of $735 million to $795 million and adjusted EPS of $1.36 to $1.52.
Q4 2024 net sales were $829.4 million, down 3.9%, with core sales down 2.6%, led by soft demand in Agriculture and Construction.
Q4 2024 net income attributable to shareholders was $36.6 million, or $0.14 per diluted share, compared with $0.24 a year earlier; adjusted EPS was $0.36 versus $0.37.
Full-year 2024 adjusted EBITDA was $761.1 million, up from $747.0 million, and operating cash flow was $379.6 million.
2025 guidance calls for adjusted EBITDA of $735 million to $795 million and adjusted EPS of $1.36 to $1.52.
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