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).
Middlesex Water reported 2024 net income of $44.4 million and diluted EPS of $2.47, up from $31.5 million and $1.76 in 2023. Revenue rose $25.6 million to $191.9 million, driven mainly by a New Jersey base rate increase and higher weather-driven customer demand, which points to stronger earnings for shareholders.
2024 net income of $44.4 million, up $12.8 million from 2023; diluted EPS of $2.47 versus $1.76
2024 revenues of $191.9 million, up $25.6 million from $166.3 million; Middlesex System revenues rose $19.9 million on the base rate increase approved in March 2024
Fourth quarter 2024 net income of $8.8 million and diluted EPS of $0.49, versus $5.8 million and $0.32 in the fourth quarter of 2023
Board declared a first quarter 2025 dividend of $0.34 per share, payable March 3, 2025; Ocean View water utility asset purchase for about $4.6 million expected to close by April 2025
MasTec reported fourth quarter and full-year 2024 results on February 27, 2025, with revenue and GAAP net income both higher than in 2023. The company also issued initial 2025 guidance, including $13.45 billion in revenue and GAAP net income of $327 million to $366 million, and expects a GAAP net loss of $1 million in the first quarter of 2025.
Q4 2024 revenue was $3.4 billion, up from $3.3 billion; GAAP net income was $84.7 million, versus $1.2 million in Q4 2023.
Full-year 2024 GAAP net income was $199.4 million, or $2.06 per diluted share, compared with a net loss of $47.3 million in 2023.
2025 guidance: revenue of $13.45 billion, GAAP diluted EPS of $3.75 to $4.24, and adjusted EBITDA of $1.10 billion to $1.15 billion.
Estimated 18-month backlog reached a record $14.3 billion at December 31, 2024; net debt leverage ratio was 1.8x.
Tidewater reported fourth-quarter 2024 revenue of $345.1 million, up from $302.7 million a year earlier, while quarterly net income of $36.9 million ($0.70 per diluted share) was roughly flat against $37.7 million ($0.70) in the prior-year quarter. The company also initiated 2025 revenue guidance of $1.32 billion to $1.38 billion and approved a new share repurchase program of up to $90.3 million, which management said is the maximum permitted under its existing debt agreements.
Q4 2024 revenue of $345.1 million, compared with $302.7 million for Q4 2023
Q4 2024 net income of $36.9 million ($0.70 per diluted share), compared with $37.7 million ($0.70) for Q4 2023
Full-year 2024 net income of $180.7 million ($3.40 per diluted share), up 85.9% from 2023
2025 guidance: revenue of $1.32 billion to $1.38 billion and gross margin of 48% to 50%; new buyback authorization of $90.3 million
American Healthcare REIT reported fourth-quarter and full-year 2024 results on February 27, 2025, and issued full-year 2025 guidance. The fourth-quarter GAAP net loss per diluted share narrowed to $(0.21) from $(0.42) a year earlier, and normalized FFO per diluted share rose to $0.40 from $0.38, while full-year normalized FFO was $1.41 versus $1.40 in 2023. For 2025, the company expects normalized FFO of $1.56 to $1.60 per diluted share and total portfolio same-store NOI growth of 7.0% to 10.0%.
Q4 2024 GAAP net loss attributable to controlling interest was $(31.8) million, or $(0.21) per diluted share, versus $(27.4) million, or $(0.42), in Q4 2023.
Full-year 2024 normalized FFO was $1.41 per diluted share; total portfolio same-store NOI grew 17.7%.
2025 guidance: normalized FFO of $1.56 to $1.60 per diluted share and net income of $0.26 to $0.30 per diluted share, versus a 2024 net loss of $(0.29).
Company raised about $1.36 billion of gross equity in 2024, including $120.2 million through its at-the-market program in Q4.
Frontdoor reported full-year 2024 revenue up 4% to $1.84 billion, net income up 37% to $235 million, and diluted earnings per share up 42% to $3.01. For 2025, it projects revenue of $2.0 billion to $2.04 billion and Adjusted EBITDA of $450 million to $475 million, including the 2-10 Home Buyers Warranty acquisition.
Full-year 2024 Adjusted EBITDA rose 28% to $443 million, and gross profit margin expanded 410 basis points to 54%.
Fourth-quarter 2024 revenue rose 5% to $383 million, while net income was flat at $9 million.
The 2025 outlook includes a gross profit margin of 51.5% to 53% and Adjusted EBITDA of $450 million to $475 million.
The company repurchased $160 million of shares in 2024 and will hold a 2025 Investor Day on February 27, 2025.
Installed Building Products reported fourth-quarter 2024 net revenue up 4.1% to a record $750.2 million, with net income up 3.1% to $66.9 million, or $2.39 per diluted share. For the full year, net revenue rose 5.9% to a record $2.9 billion and diluted EPS rose to $9.10 from $8.61, and the Board approved a 6% higher quarterly dividend and a $1.70 annual variable dividend payable March 31, 2025.
Q4 2024 net income $66.9 million, or $2.39 per diluted share, versus $64.9 million, or $2.29, a year earlier
Full-year 2024 net income $256.6 million, or $9.10 per diluted share, versus $8.61 in 2023
Quarterly cash dividend of $0.37 per share and annual variable dividend of $1.70 per share, payable March 31, 2025 to holders of record March 14, 2025
New stock repurchase program of up to $500 million, expiring March 1, 2026
PENN Entertainment reported fourth-quarter 2024 revenue of $1,669.0 million, up from $1,395.4 million a year earlier, and a net loss of $133.8 million, narrowed from $358.8 million. The company also said it intends to repurchase at least $350 million of shares in 2025, which matters to shareholders because it signals a large capital return alongside improved results.
Q4 2024 diluted loss per share was $(0.88), compared with $(2.37) in Q4 2023.
Adjusted EBITDA was $165.2 million, compared with a loss of $(39.6) million in the prior-year quarter.
Interactive segment revenue was $275.0 million, compared with $31.5 million a year earlier, including a tax gross-up of $132.8 million.
Full-year 2024 net loss was $313.3 million, compared with $491.4 million in 2023.
Acushnet reported full-year 2024 net sales of $2.46 billion, up 3.2%, and net income attributable to the company of $214.3 million, up $15.9 million, with fourth-quarter net loss narrowing to $1.1 million from $26.8 million a year earlier. The company also gave a 2025 outlook of $2.49 billion to $2.54 billion in net sales and $405 million to $420 million in Adjusted EBITDA, and raised its quarterly dividend 9.3% and added a $250.0 million share repurchase authorization.
Full-year 2024 Adjusted EBITDA was $404.4 million, up 7.5%, and fourth-quarter Adjusted EBITDA was $12.4 million versus a $1.5 million loss a year earlier
2025 outlook calls for net sales of $2,485 million to $2,535 million and Adjusted EBITDA of $405 million to $420 million, including an estimated negative currency impact of about $35 million
Quarterly cash dividend increased 9.3% to $0.235 per share, payable March 21, 2025 to holders of record as of March 7, 2025
On February 13, 2025, the board authorized an additional $250.0 million in share repurchases, bringing the total authorization to $1.25 billion
Bristow Group reported fourth quarter and full-year 2024 results. Full-year net income rose to $94.8 million and Adjusted EBITDA of $236.8 million beat the top of its raised outlook, while fourth-quarter revenue fell from the prior quarter. The company also set a new $125 million share repurchase program, plans a quarterly dividend starting in Q1 2026, and intends to reduce gross debt to about $500 million by the end of 2026.
Full-year 2024 net income was $94.8 million, or $3.21 per diluted share, compared with a net loss of $6.8 million in 2023; total revenues were $1.4 billion versus $1.3 billion.
Fourth-quarter 2024 revenues were $353.5 million, down from $365.1 million in the third quarter, while diluted earnings per share rose to $1.07 from $0.95.
Full-year 2024 Adjusted EBITDA was $236.8 million, above the previously upward revised outlook range of $220 million to $230 million.
The company issued 2025 guidance of $1.420 billion to $1.615 billion in total revenues and $230 million to $260 million in Adjusted EBITDA, and plans a $0.125 per share quarterly dividend beginning in Q1 2026.
Innovex reported fourth-quarter 2024 revenue of $251 million, up 89% year-over-year, and adjusted EBITDA of about $49 million, up $17 million from a year earlier, with the Dril-Quip merger and DWS acquisition driving the gains. The board authorized a $100 million share repurchase program, and the company guided first-quarter 2025 adjusted EBITDA to $45 million to $50 million and revenue to $245 million to $255 million.
Q4 2024 revenue was $251 million, up 89% year-over-year and 65% sequentially; full-year 2024 revenue was $661 million, up 19%.
Q4 2024 adjusted EBITDA was about $49 million; free cash flow was $29 million.
Board authorized a $100 million share repurchase program.
Q1 2025 guidance: adjusted EBITDA of $45 million to $50 million and revenue of $245 million to $255 million.
EMCOR reported record fourth-quarter and full-year 2024 revenues, diluted EPS and operating income, with fourth-quarter revenue up 9.6% to $3.77 billion and diluted EPS of $6.32. The company guided 2025 diluted EPS to $22.25 to $24.00 and increased its share repurchase authorization by $500 million.
Q4 2024 diluted EPS of $6.32 versus $4.47 a year earlier; full-year 2024 diluted EPS of $21.52 versus $13.31
Full-year 2024 revenues of $14.57 billion, up 15.8%; operating income of $1.34 billion, or 9.2% of revenues
2025 guidance: revenues of $16.1 billion to $16.9 billion, operating margin of 8.5% to 9.2%, diluted EPS of $22.25 to $24.00
Board authorized an additional $500 million for share repurchases under the existing program, which has no expiration date
Graham Holdings reported fourth-quarter 2024 revenue of $1.2 billion, up 7%, and diluted earnings per share of $125.55, compared with $11.72 a year earlier. The EPS figure includes a one-time, noncash $653.4 million pension settlement gain; excluding certain items, fourth-quarter EPS was $22.58 versus $10.94. On February 25, 2025, the company also agreed to settle a significant portion of a mandatorily redeemable noncontrolling interest for $205 million.
Q4 2024 revenue was $1,245.8 million, up 7% from $1,166.8 million; operating income was $72.5 million versus $40.8 million.
Q4 diluted EPS was $125.55 versus $11.72; excluding certain items, EPS was $22.58 versus $10.94.
A $653.4 million pre-tax, noncash pension settlement gain was recorded in Q4 2024 after a group annuity purchase; the February 25, 2025 settlement totals $205 million, including $186.25 million in cash and $18.75 million in Class B stock.
Verisk reported fourth-quarter and full-year 2024 results, with revenue and per-share profit both higher than in the prior year, and gave 2025 guidance for revenue of $3,030 million to $3,080 million. The board also approved a 15% dividend increase and an additional $1.0 billion share repurchase authorization, which bear directly on shareholder returns.
Q4 2024 diluted EPS attributable to Verisk was $1.44, up 15.2%; diluted adjusted EPS was $1.61, up 15.0%.
Full-year 2024 revenue was $2,882 million, up 7.5%, and diluted EPS was $6.66, up 27.6%.
2025 guidance: revenue of $3,030 million to $3,080 million and diluted adjusted EPS of $6.80 to $7.10.
Board approved a 45-cent quarterly dividend payable March 31, 2025, up 15%, and an additional $1.0 billion buyback authorization on February 19, 2025.
Clear Secure reported full-year 2024 revenue of $770.5 million, up 25.6%, and net income of $225.3 million, up from $49.9 million in 2023. The fourth-quarter results also include a one-time tax benefit. The company said President and CFO Kenneth Cornick will step down, with Michael Barkin named President and Jennifer Hsu named CFO, both effective March 31, 2025, and guidance calls for first-quarter 2025 revenue of $207-209 million.
Full-year 2024 operating income was $123.2 million, compared with $20.1 million in 2023.
Fourth-quarter 2024 net income of $116.6 million included a $165.5 million non-cash income tax benefit.
Kenneth Cornick resigns as President effective March 31, 2025, and remains CFO until his successor starts; Hsu, formerly of Chewy, becomes CFO effective March 31, 2025.
2025 guidance: first-quarter revenue of $207-209 million and full-year Free Cash Flow of at least $310 million.
Innovex International reported fourth-quarter 2024 revenue of $251 million, up from $152 million in the third quarter and $133 million a year earlier, and net income of $32 million, compared with $18 million a year earlier. The company also gave first-quarter 2025 revenue guidance of $245 million to $255 million and Adjusted EBITDA guidance of $45 million to $50 million, and its board approved a new $100 million share repurchase program.
Q4 2024 revenue of $251 million, up 65% from Q3 2024 and up from $133 million in Q4 2023; full-year 2024 revenue was $661 million
Q4 2024 net income of $32 million, down from $83 million in Q3 2024 but up from $18 million in Q4 2023; full-year net income was $140 million
Q1 2025 guidance: total revenue of $245 million to $255 million and Adjusted EBITDA of $45 million to $50 million
Board approved a new share repurchase program of up to $100 million on February 25, 2025, replacing prior Dril-Quip plans
Alarm.com reported fourth-quarter and full-year 2024 results, with full-year total revenue and GAAP net income higher than in 2023, and issued 2025 guidance above 2024 levels. Fourth-quarter GAAP net income and diluted earnings per share were slightly lower than a year earlier. The company also said Chief Financial Officer Steve Valenzuela will retire effective June 2, 2025, a date that may be extended to assist the transition to a new CFO.
Full-year 2024 total revenue rose 6.6% to $939.8 million; GAAP net income rose to $122.5 million from $80.3 million in 2023.
Fourth-quarter 2024 GAAP net income was $30.1 million, compared with $31.2 million, and diluted EPS was $0.56, compared with $0.58.
2025 guidance: total revenue of $978.2 million to $980.8 million and non-GAAP adjusted EBITDA of $188.0 million to $192.0 million.
CFO Steve Valenzuela announced on February 17, 2025 that he will retire effective June 2, 2025, not due to any disagreement with the company.
Comfort Systems USA reported fourth-quarter 2024 net income of $145.9 million, or $4.09 per diluted share, up from $91.6 million, or $2.55, a year earlier, on revenue of $1.87 billion. For the full year, revenue rose to $7.03 billion from $5.21 billion, and the company also declared a quarterly dividend increase to $0.40 per share, which shareholders of record on March 10, 2025 will receive.
Q4 2024 net income was $145.9 million, or $4.09 per diluted share, versus $91.6 million, or $2.55, in Q4 2023.
Full-year 2024 revenue was $7.03 billion versus $5.21 billion in 2023; net income was $522.4 million, or $14.60 per diluted share, versus $9.01 in 2023.
Backlog was $5.99 billion at December 31, 2024, compared with $5.16 billion a year earlier.
Board declared a quarterly dividend of $0.40 per share, a $0.05 increase, payable March 21, 2025 to holders of record on March 10, 2025.
Texas Roadhouse reported fourth-quarter 2024 revenue of $1.44 billion, up 23.5%, and diluted earnings per share of $1.73, up 60.1%, in a 14-week quarter versus 13 weeks a year earlier. The Board also raised the quarterly dividend 11% to $0.68 per share and authorized a $500 million buyback that replaces a $300 million program, while amending its bylaws to adopt majority voting for uncontested director elections.
Q4 2024 revenue $1.44 billion vs. $1.16 billion; fiscal 2024 revenue $5.37 billion, up 16.0%
Q4 diluted EPS $1.73 vs. $1.08; fiscal 2024 diluted EPS $6.47 vs. $4.54
Quarterly dividend of $0.68 per share, payable April 1, 2025, to holders of record March 18, 2025
$500 million buyback begins February 24, 2025, with no expiration date; 2025 commodity cost inflation outlook updated to 3% to 4%
Freshpet reported fourth-quarter and full-year 2024 results, with net sales up 22.0% in the quarter and 27.2% for the year, and full-year net income of $46.9 million compared with a net loss of $33.6 million in 2023. The company guided 2025 net sales of $1.18 billion to $1.21 billion and Adjusted EBITDA of at least $210 million, and raised its 2027 Adjusted Gross Margin and Adjusted EBITDA margin targets.
Q4 2024 net sales were $262.7 million, up 22.0%, and net income was $18.1 million versus $15.3 million a year earlier.
Full-year 2024 Adjusted EBITDA was $161.8 million, compared with $66.6 million in 2023.
2025 guidance: net sales of $1.18 billion to $1.21 billion (up 21% to 24%) and Adjusted EBITDA of at least $210 million.
2027 targets: Adjusted Gross Margin raised to 48% from 45%, and Adjusted EBITDA margin raised to 22% from 18%; net sales target of $1.8 billion unchanged.
Coeur Mining reported fourth-quarter and full-year 2024 results, with full-year revenue of $1.1 billion and GAAP net income from continuing operations of $59 million, compared with a net loss of $103.6 million in 2023. The company also issued 2025 production, cost and expense guidance after closing its $1.58 billion all-equity SilverCrest acquisition on February 14, 2025, and expects one-time costs and negative free cash flow in the first quarter.
Full-year 2024 revenue was $1.1 billion, up from $821 million in 2023, and GAAP net income from continuing operations was $59 million, or $0.15 per share.
Full-year 2024 adjusted EBITDA was $339 million, compared with $142 million in 2023.
SilverCrest acquisition closed February 14, 2025, with about 239 million shares issued, implying an acquisition value of $1.58 billion.
2025 production guidance is 380,000 to 440,000 ounces of gold and 16.7 to 20.3 million ounces of silver; the company expects negative free cash flow in the first quarter and $75 to $85 million in cash taxes.
Jackson Financial reported fourth-quarter 2024 net income of $334 million, or $4.45 per diluted share, compared with a loss of $(1.6) billion a year earlier, and full-year adjusted operating earnings of $1.4 billion, or $18.79 per diluted share. The company also raised its first-quarter 2025 dividend by 14% to $0.80 per share and set a 2025 capital return target of $700-800 million, which matters to shareholders because it indicates how much cash the company plans to return to them this year.
Q4 2024 net income attributable to common shareholders was $334 million, or $4.45 per diluted share, versus a loss of $(1.6) billion, or $(19.64) per diluted share, in Q4 2023.
Q4 2024 adjusted operating earnings were $349 million, or $4.65 per diluted share, up from $204 million, or $2.53 per diluted share, a year earlier.
Full-year 2024 adjusted operating earnings were $1.4 billion, or $18.79 per diluted share, compared with $1.1 billion, or $12.84 per diluted share, in 2023.
The first-quarter 2025 common dividend rises 14% to $0.80 per share, and the 2025 capital return target is $700-800 million.
Remitly reported fourth quarter and full year 2024 results on February 19, 2025. Revenue rose 33% in the quarter and 34% for the year, and the net loss narrowed sharply from the prior-year periods. The company also guided to positive GAAP net income for 2025, while expecting a GAAP net loss in the first quarter of 2025.
Q4 2024 revenue was $351.9 million, up 33% from $264.8 million; net loss was $5.7 million versus $35.0 million a year earlier.
Full year 2024 revenue was $1,264.0 million, up 34%; net loss was $37.0 million versus $117.8 million in 2023.
2025 outlook: revenue of $1.565 billion to $1.580 billion and Adjusted EBITDA of $180 million to $200 million, with GAAP net income expected to be positive.
Q1 2025 outlook: revenue of $345 million to $348 million and a GAAP net loss, with Adjusted EBITDA of $36 million to $40 million.
Garmin reported fourth-quarter 2024 revenue of $1.82 billion, up 23%, and record full-year revenue of $6.30 billion, up 20%. Q4 GAAP EPS was $2.25 versus $2.82 a year earlier, a period that included a $159 million income tax benefit, while pro forma EPS rose 40% to $2.41. The company expects 2025 revenue of about $6.80 billion and pro forma EPS of about $7.80, and the board intends to recommend a $3.60 per share annual dividend.
Q4 2024 operating income was $516 million, up 52%, with operating margin of 28.3% versus 23.0%.
Full-year 2024 GAAP diluted EPS was $7.30 versus $6.71; pro forma diluted EPS was $7.39 versus $5.59.
2025 guidance calls for revenue of about $6.80 billion and pro forma EPS of about $7.80.
The board intends to recommend a $3.60 per share cash dividend for shareholder approval at the June 6, 2025 annual meeting.
Cinemark reported fourth-quarter 2024 revenue up 27.5% to $814.3 million and net income attributable to the company of $51.3 million, compared with a net loss of $18.0 million a year earlier. For full year 2024, total revenue slipped 0.6% to $3,049.5 million, while net income rose to $309.7 million, helped by a $60.1 million income tax benefit. The board also reinstated an annual cash dividend of $0.32 per share, payable quarterly, with the first payment on March 19, 2025.
Q4 2024 diluted EPS was $0.33, compared with a diluted loss of $(0.15) in Q4 2023.
FY 2024 diluted EPS was $2.06, compared with $1.34 in FY 2023, and included a $60.1 million income tax benefit.
FY 2024 Adjusted EBITDA was $590.2 million, compared with $594.1 million in FY 2023.
First quarterly dividend of $0.32 per share is payable March 19, 2025 to holders of record on March 5, 2025.
Devon Energy reported fourth-quarter 2024 net earnings of $639 million, or $0.98 per diluted share, and core earnings of $756 million, or $1.16 per share. The company raised its quarterly dividend 9 percent to $0.24 per share and lowered its 2025 capital program by about $200 million while raising its production forecast, which matters to shareholders because it adds to capital returned and reflects a higher expected output for less capital.
Q4 2024 net earnings were $639 million, up from $812 million in Q3 2024 but down from $1,152 million in Q4 2023.
Q4 2024 free cash flow was $738 million, and the company returned $444 million to shareholders through dividends and buybacks.
2025 production outlook raised 2 percent to 805,000 to 825,000 Boe per day; capital program of $3.8 to $4.0 billion, a 5 percent or $200 million decline.
Quarterly dividend raised 9 percent to $0.24 per share, payable Mar. 31, 2025, to holders of record on Mar. 14, 2025.
PPL reported 2024 net income of $888 million, or $1.20 per share, up from $1.00 in 2023, and earnings from ongoing operations of $1.69 per share, up from $1.60. The company set a 2025 earnings forecast of $1.75 to $1.87 per share and raised its capital plan to $20 billion for 2025 through 2028, which it says will require $2.5 billion in equity.
2024 reported EPS $1.20 vs. $1.00 in 2023; ongoing EPS $1.69 vs. $1.60
Fourth-quarter 2024 ongoing EPS was $0.34, down from $0.40 a year earlier
2025 EPS forecast range $1.75 to $1.87, midpoint $1.81; growth targets of 6% to 8% extended through at least 2028
Quarterly common dividend raised about 6%, from $0.2575 to $0.2725 per share, payable April 1, 2025
Zebra Technologies reported fourth-quarter 2024 net sales of $1,334 million, up 32.2% from a year earlier, with GAAP diluted earnings of $3.14 per share versus $0.31. For full-year 2024, net sales rose 8.7% to $4,981 million and GAAP diluted EPS was $10.18 versus $5.72. The company guided 2025 net sales growth of 3% to 7% and non-GAAP diluted EPS of $14.75 to $15.25, and said it remains cautious about the rest of the year amid trade, geopolitical and macroeconomic uncertainty.
Q4 2024 net income was $163 million, or $3.14 per diluted share, versus $17 million, or $0.31, in Q4 2023; non-GAAP diluted EPS was $4.00 versus $1.71.
Full-year 2024 net sales were $4,981 million, up 8.7%, and full-year free cash flow was $954 million.
2025 outlook: first-quarter net sales growth of 8% to 11% and non-GAAP diluted EPS of $3.50 to $3.70; full-year net sales growth of 3% to 7% and non-GAAP diluted EPS of $14.75 to $15.25.
The outlook excludes the Photoneo acquisition, which the company expects to close in the first quarter of 2025.
Howmet Aerospace reported record fourth quarter and full year 2024 revenue, net income and cash generation, with fourth quarter revenue of $1.9 billion, up 9% year over year, and full year revenue of $7.4 billion, up 12%. The company raised the midpoint of its 2025 revenue growth guidance to approximately 8% and expects improved profit and cash generation, and its board approved a 25% increase in the quarterly dividend to $0.10 per share.
Q4 2024 net income was $314 million, or $0.77 per diluted share, versus $236 million, or $0.57, in Q4 2023.
Full year 2024 net income was $1.2 billion, or $2.81 per diluted share, versus $765 million, or $1.83, in 2023.
FY 2025 revenue guidance baseline is $8.030 billion, with the midpoint growth raised to approximately 8% from 7.5%.
The quarterly dividend rises to $0.10 per share, payable February 25, 2025; $2.15 billion of repurchase authorization remained as of January 31, 2025.
Moody's reported fourth-quarter and full-year 2024 results on February 13, 2025, with revenue up 13% in the quarter and 20% for the year. It also set a 2025 adjusted diluted EPS outlook of $14.00 to $14.50 and raised its medium-term adjusted diluted EPS growth rate to low-to-mid-teens percent, which the filing presents as the company's updated targets for shareholders.
Q4 2024 revenue was $1.7 billion, up 13%; diluted EPS was $2.17, up 17%, and adjusted diluted EPS was $2.62, up 20%.
Full-year 2024 revenue was $7.1 billion, up 20%; adjusted diluted EPS was $12.47, up 26%.
2025 outlook: GAAP diluted EPS of $12.75 to $13.25 and adjusted diluted EPS of $14.00 to $14.50; projected restructuring charges of $80 million to $100 million in 2025.
Quarterly dividend increased 11% to $0.94 per share from $0.85, payable March 14, 2025, to holders of record on February 25, 2025.
TransUnion reported fourth-quarter 2024 revenue of $1,037 million, up 9% from a year earlier, and net income attributable to the company of $66 million, compared with $6 million in the fourth quarter of 2023. The company forecast 2025 reported revenue growth of 3.5% to 5% and raised its quarterly dividend to $0.115 per share while authorizing a new $500 million share repurchase program.
Q4 2024 revenue was $1,037 million, up 9%; Adjusted EBITDA was $378 million, up 16%.
Diluted earnings per share were $0.34, compared with $0.03 in Q4 2023.
2025 guidance: reported revenue growth of 3.5% to 5%, and diluted EPS of $1.68 to $1.82.
Quarterly dividend raised to $0.115 per share, payable March 14, 2025; new $500 million share repurchase authorization.
Antero Resources reported fourth quarter 2024 net income of $150 million, up from $82 million a year earlier, and Adjusted Net Income of $181 million (non-GAAP). For 2025 it raised its maintenance production target by 50 MMcfe/d to 3.35 to 3.45 Bcfe/d and cut its drilling and completion capital budget by $25 million at the midpoint to $650 million to $700 million. Full-year 2024 net income was $57 million, down from $198 million in 2023.
Q4 2024 net income was $150 million vs. $82 million in Q4 2023; Adjusted EBITDAX was $332 million vs. $322 million
Q4 2024 net cash provided by operating activities was $278 million vs. $312 million a year earlier; Free Cash Flow was $159 million
2025 production guidance raised to 3.35 to 3.45 Bcfe/d; drilling and completion capital budget cut to $650 million to $700 million
Full-year 2024 Free Cash Flow was $73 million; estimated proved reserves were 17.9 Tcfe at year end 2024, flat from the prior year before sales of reserves in place
Q2 Holdings reported fourth-quarter 2024 revenue of $183.0 million, up 13% year-over-year, and GAAP net income of $0.2 million, compared with a net loss of $18.1 million a year earlier. The company also issued 2025 guidance of $772.0 million to $779.0 million in full-year revenue and updated its three-year framework, which raises the 2026 free cash flow conversion target to greater than 85% from 70%. For shareholders, the results show year-over-year gains in revenue, profit and adjusted EBITDA, along with higher long-term targets.
Q4 2024 revenue of $183.0 million, up 13% year-over-year; full-year 2024 revenue of $696.5 million, up 12%
Q4 2024 GAAP net income of $0.2 million, versus a net loss of $18.1 million in Q4 2023; full-year 2024 GAAP net loss narrowed to $38.5 million from $65.4 million
Q4 2024 adjusted EBITDA of $37.6 million, up from $23.2 million; full-year 2025 guidance of $772.0 million to $779.0 million in revenue and $165.0 million to $170.0 million in adjusted EBITDA
Updated three-year framework targets average annual subscription revenue growth of approximately 15% and a full-year 2026 free cash flow conversion above 85%, up from 70%
CareTrust REIT reported fourth-quarter 2024 net income of $52.1 million, or $0.29 per diluted share, up from $26.3 million, or $0.22, a year earlier, and full-year normalized FFO of $232.9 million, or $1.50 per share. The company also issued 2025 guidance of $1.68 to $1.72 in normalized FFO per share and kept its quarterly dividend at $0.29 per share.
Q4 2024 net income attributable to CareTrust was $52.1 million ($0.29 per diluted share), versus $26.3 million ($0.22) in Q4 2023.
Q4 2024 normalized FFO was $72.9 million ($0.40 per share), versus $43.4 million ($0.36) a year earlier.
2025 guidance: net income of $1.35 to $1.39 per diluted share, normalized FFO of $1.68 to $1.72, and normalized FAD of $1.72 to $1.76, based on 187.5 million shares.
As of February 12, 2025, the company had $750.0 million available under its ATM Program and no borrowings on its $1.2 billion revolving credit line.
Wabtec reported fourth-quarter 2024 sales of $2.58 billion, up 2.3% from a year earlier, with GAAP diluted EPS of $1.23 (up 2.5%) and adjusted diluted EPS of $1.68 (up 9.1%). It also issued 2025 guidance for adjusted EPS of $8.35 to $8.75 and sales of $10.725 billion to $11.025 billion, and raised its quarterly dividend by 25%.
Exelon reported fourth-quarter 2024 adjusted operating earnings of $0.64 per share, up from $0.60 a year earlier, and full-year adjusted earnings of $2.50 per share, up from $2.38. The company introduced 2025 adjusted earnings guidance of $2.64-$2.74 per share and raised its four-year capital plan to $38 billion, which includes $1.4 billion of additional equity.
Q4 2024 GAAP net income of $0.64 per share, up from $0.62; adjusted operating earnings of $0.64 per share, up from $0.60
Full-year 2024 adjusted operating earnings of $2.50 per share, up from $2.38 in 2023
2025 adjusted operating earnings guidance range of $2.64-$2.74 per share
Capital expenditure plan of $38 billion over four years, up 10% from the prior plan, with $1.4 billion of additional equity
Eversource reported full-year 2024 GAAP earnings of $811.7 million, or $2.27 per share, compared with a 2023 loss of $442.2 million, and non-GAAP recurring EPS of $4.57, up from $4.34. It forecast 2025 earnings of $4.67 to $4.82 per share and introduced a five-year $24.2 billion investment plan for 2025 to 2029, which includes $1.2 billion of planned equity issuance. Fourth-quarter GAAP results included a $298.3 million after-tax loss on the pending sale of the Aquarion Water Company, which is expected to close by late 2025.
Full-year 2024 GAAP EPS was $2.27, compared with a 2023 loss of $(1.26) per share; fourth-quarter 2024 GAAP EPS was $0.20
Non-GAAP recurring EPS was $4.57 for 2024, up from $4.34 in 2023; 2025 EPS guidance is $4.67 to $4.82 per share
Five-year investment plan of $24.2 billion for 2025 to 2029, an increase of $2.1 billion over the prior plan
Expects to raise $1.2 billion of equity over 2025 to 2029, with the majority expected in the latter half of the period
DoorDash reported fourth-quarter and full-year 2024 results, with revenue up 25% year over year and GAAP net income attributable to common stockholders of $141 million, compared with a loss of $154 million in the year-earlier quarter. The company also gave a first-quarter 2025 Adjusted EBITDA outlook of $550 million to $600 million and authorized up to $5.0 billion in share repurchases.
Q4 2024 revenue was $2.9 billion, up 25% Y/Y; GAAP net income attributable to common stockholders was $141 million versus a $(154) million loss in Q4 2023.
Q4 2024 Adjusted EBITDA was $566 million, up from $363 million in Q4 2023.
Q1 2025 outlook: Marketplace GOV of $22.6 billion to $23.0 billion and Adjusted EBITDA of $550 million to $600 million.
On February 11, 2025, the board authorized repurchases of up to $5.0 billion of Class A common stock, inclusive of the remaining $876 million under the prior authorization.
Medpace reported fourth-quarter 2024 revenue of $536.6 million, up 7.7%, and GAAP diluted earnings of $3.67 per share, up from $2.46 a year earlier. The board also approved a $600 million increase to the stock repurchase program, and the company forecast 2025 revenue of $2.110 billion to $2.210 billion, growth of 0.0% to 4.8%, for shareholders to weigh against slower new business awards.
Q4 2024 revenue was $536.6 million, up 7.7% from $498.4 million; GAAP net income was $117.0 million.
Q4 2024 net new business awards fell 13.8% to $529.7 million, for a net book-to-bill ratio of 0.99x.
2025 guidance: revenue of $2.110 billion to $2.210 billion and GAAP diluted EPS of $11.93 to $12.69.
On February 6, 2025, the board approved a $600 million increase to the stock repurchase program.
Post Holdings reported first-quarter fiscal 2025 results for the period ended December 31, 2024, with net sales of $1,974.7 million, up 0.4%, and net earnings of $113.3 million, up 28.6%. The company raised its fiscal 2025 Adjusted EBITDA outlook to $1,420-$1,460 million from $1,410-$1,460 million and approved a new $500 million share repurchase authorization effective February 10, 2025, which replaces the existing program.
Net sales were $1,974.7 million, up 0.4% from $1,965.9 million; diluted EPS was $1.78 versus $1.35 a year earlier
Adjusted diluted EPS was $1.73 versus $1.69; Adjusted net earnings were $111.9 million versus $113.7 million
Fiscal 2025 Adjusted EBITDA outlook raised to $1,420-$1,460 million from $1,410-$1,460 million
New $500 million buyback approved February 4, 2025; $200.2 million remained under the existing authorization as of February 6, 2025, which will be cancelled February 9, 2025
Principal Financial Group reported fourth-quarter and full-year 2024 results, with GAAP net income of $905.4 million in the quarter versus a $871.7 million loss a year earlier. It also raised its first-quarter 2025 dividend to $0.75 per share and approved a new $1.5 billion share repurchase authorization, while its 2025 outlook is consistent with long-term targets of 9-12% non-GAAP operating EPS growth.
4Q24 GAAP net income attributable to PFG was $905.4 million, or $3.92 per diluted share, compared with a loss of $871.7 million, or $3.66 per share, in 4Q23
4Q24 non-GAAP operating earnings per diluted share were $1.94, up 6% from $1.83; full-year 2024 was $7.65 excluding significant variances, up 11%
Quarterly dividend raised to $0.75 per share, payable March 28, 2025, to shareholders of record as of March 12, 2025
Board approved a new $1.5 billion share repurchase authorization; about $0.8 billion remained under the prior authorization at December 31, 2024
Encompass Health reported fourth-quarter 2024 net operating revenue of $1,405.0 million, up 12.7%, and diluted earnings per share from continuing operations of $1.18, up from $0.94 a year earlier. The company also issued 2025 guidance for net operating revenue of $5,800 million to $5,900 million, Adjusted EBITDA of $1,160 million to $1,200 million, and adjusted earnings per share of $4.67 to $4.96.
Q4 2024 net operating revenue was $1,405.0 million, up from $1,246.8 million; diluted EPS from continuing operations was $1.18 versus $0.94
Q4 2024 Adjusted EBITDA was $289.6 million, up 13.6%; adjusted EPS was $1.17 versus $0.95
2025 guidance: net operating revenue $5,800 million to $5,900 million; Adjusted EBITDA $1,160 million to $1,200 million; adjusted EPS $4.67 to $4.96
Management will discuss results on an earnings call at 10:00 a.m. Eastern Time on February 7, 2025
Lumentum reported fiscal second quarter 2025 net revenue of $402.2 million, up 19.4% from the prior quarter and 9.7% from a year earlier, with GAAP net loss narrowing to $60.9 million, or $0.88 per diluted share. It guided fiscal third quarter net revenue to $410 million to $425 million and non-GAAP diluted EPS to $0.47 to $0.53, and said CEO Alan Lowe will transition to Michael Hurlston.
Q2 net revenue $402.2 million vs. $336.9 million in Q1 and $366.8 million in Q2 2024
GAAP net loss $60.9 million ($0.88 per diluted share) vs. $82.4 million in Q1 and $99.1 million in Q2 2024
Q3 fiscal 2025 outlook: net revenue $410 million to $425 million; non-GAAP diluted EPS $0.47 to $0.53
Cash, cash equivalents and short-term investments were $896.7 million, down $19.4 million from Q1
NMI Holdings reported fourth-quarter 2024 net income of $86.2 million, or $1.07 per diluted share, up from $83.4 million and $1.01 a year earlier but down from $92.8 million and $1.15 in the third quarter. Full-year 2024 net income rose to $360.1 million, or $4.43 per diluted share, from $322.1 million, or $3.84, in 2023, and the board authorized an additional $250 million share repurchase through December 31, 2027.
Q4 2024 net income $86.2 million, $1.07 per diluted share, vs. $83.4 million, $1.01 in Q4 2023 and $92.8 million, $1.15 in Q3 2024
Full-year 2024 net income $360.1 million, $4.43 per diluted share, vs. $322.1 million, $3.84 in 2023; adjusted diluted EPS $4.50
Q4 2024 loss ratio 12.0%, up from 6.2% a year earlier and 7.2% in Q3 2024; total revenue $166.5 million
Board authorized an additional $250 million share repurchase plan effective through December 31, 2027
Fortinet reported fourth-quarter 2024 revenue of $1.66 billion, up 17.3% from a year earlier, and GAAP diluted EPS of $0.68 versus $0.40. It also issued 2025 revenue guidance of $6.650 billion to $6.850 billion, compared with full-year 2024 revenue of $5.96 billion. Chief Financial Officer Keith Jensen plans to retire on May 15, 2025, and Chief Accounting Officer Christiane Ohlgart is expected to succeed him, which shareholders may watch during the transition.
Q4 2024 revenue was $1.66 billion, up 17.3% from $1.42 billion; GAAP net income was $526.2 million.
GAAP diluted EPS was $0.68 for Q4 2024, compared with $0.40 a year earlier.
2025 guidance: revenue of $6.650 billion to $6.850 billion; Q1 2025 revenue of $1.500 billion to $1.560 billion.
Keith Jensen, 66, will retire May 15, 2025 and remain in service through June 30, 2025; Christiane Ohlgart is set to become CFO.
Expedia Group reported fourth-quarter 2024 revenue of $3.2 billion, up 10% from a year earlier, and gross bookings of $24.4 billion, up 13%. GAAP net income attributable to stockholders more than doubled to $299 million, and the board's Executive Committee declared a $0.40 quarterly dividend, reinstating a payout suspended in 2020 that shareholders will receive if they are on record by March 6, 2025.
Q4 2024 gross bookings were $24.4 billion, up 13%, and booked room nights were 86.4 million, up 12%.
Q4 2024 net income attributable to Expedia Group stockholders was $299 million, versus $132 million; diluted EPS was $2.20, versus $0.92.
Quarterly dividend of $0.40 per share: record date March 6, 2025; payable March 27, 2025.
In 2024, the company repurchased over 12 million shares for $1.6 billion.
Monolithic Power Systems reported fourth-quarter 2024 revenue of $621.7 million, up 36.9% from $454.0 million a year earlier, and non-GAAP diluted earnings of $4.09 per share, up from $2.88. GAAP diluted EPS of $29.88 was inflated by a $1.3 billion tax benefit from a foreign subsidiary. The board raised the quarterly dividend to $1.56 per share from $1.25 and approved a $500 million stock repurchase program that expires February 4, 2028.
Q4 2024 revenue of $621.7 million compared with $454.0 million a year earlier and $620.1 million in the prior quarter.
GAAP net income of $1.4 billion ($29.88 per diluted share) included a $1.3 billion tax benefit; non-GAAP net income was $198.4 million ($4.09 per diluted share).
First-quarter 2025 revenue outlook is $610.0 million to $630.0 million.
Dividend of $1.56 per share payable April 15, 2025 to holders of record as of March 31, 2025.
InterDigital reported fourth quarter 2024 revenue of $252.8 million, up from $105.5 million a year earlier, and diluted EPS of $4.09 versus $1.41. Full-year 2024 revenue was $868.5 million, up 58%, and the company raised its quarterly dividend from $0.45 to $0.60 per share, starting with the dividend paid in the second quarter of 2025. The company also gave full-year 2025 revenue guidance of $660 million to $760 million and diluted EPS guidance of $6.79 to $9.67.
Q4 2024 revenue $252.8 million vs. $105.5 million in Q4 2023; diluted EPS $4.09 vs. $1.41
Full-year 2024 revenue $868.5 million, up 58%; diluted EPS $12.07 vs. $7.62
Quarterly dividend increased from $0.45 to $0.60 per share, effective with the dividend paid in Q2 2025
2025 outlook: full-year revenue $660 million to $760 million; Q1 2025 revenue $112 million to $116 million
Ralph Lauren reported fiscal third-quarter 2025 results for the quarter ended December 28, 2024, with revenue up 11% to $2.1 billion and diluted earnings per share of $4.66, up 11% from $4.19 a year earlier. The company raised its full-year fiscal 2025 revenue and adjusted operating margin expansion outlook, which is a positive signal for shareholders.
Q3 diluted EPS was $4.66 reported and $4.82 adjusted, up 11% and 16% respectively from the prior year
Q3 revenue rose 11% to $2.1 billion, with North America up 7%, Europe up 16% and Asia up 14%
Full-year fiscal 2025 constant currency revenue growth is now expected at approximately 6% to 7%
Company repurchased approximately $74 million of Class A common stock in the third quarter
Tapestry reported fiscal second-quarter 2025 net sales of $2.20 billion, up 5% from a year earlier, with non-GAAP diluted EPS of $2.00 versus $1.63 a year earlier. Reported diluted EPS was $1.38, slightly below $1.39 a year earlier, after a $120 million loss on debt extinguishment tied to the terminated Capri Holdings merger. The company raised its fiscal 2025 non-GAAP EPS outlook to $4.85 to $4.90 from $4.50 to $4.55, and expects to return more than $2 billion to shareholders this fiscal year.
Q2 net sales of $2.20 billion, up 5%; Coach sales rose 11% on a reported basis.
Non-GAAP diluted EPS of $2.00 versus $1.63 a year earlier; reported diluted EPS of $1.38 versus $1.39.
Fiscal 2025 non-GAAP EPS outlook raised to $4.85 to $4.90 from $4.50 to $4.55.
Reported net income of $310 million, including a $120 million loss on debt extinguishment tied to the terminated Capri Holdings merger.
First Industrial reported fourth-quarter 2024 FFO of $0.71 per share/unit, up from $0.63 a year earlier, and initiated 2025 NAREIT FFO guidance of $2.87 to $2.97 per share/unit, about 10% growth at the midpoint. Fourth-quarter diluted EPS fell to $0.52 from $0.67, while the board raised the quarterly dividend 20.3% to $0.445 per share/unit.
Q4 2024 FFO was $0.71 per share/unit diluted, versus $0.63 a year ago; full-year FFO was $2.65 versus $2.44 in 2023
Q4 2024 diluted EPS was $0.52, versus $0.67 a year ago; full-year 2024 EPS was $2.17 versus $2.07
Quarterly dividend raised to $0.445 per share/unit from $0.37, payable April 21, 2025
2025 FFO guidance of $2.87 to $2.97 per share/unit; conference call and webcast scheduled for February 6, 2025
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