811 material Form 8-K filings that 685 companies we cover made with the SEC in April 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).
Tennant Company reported first-quarter 2025 results, with net sales of $290.0 million, down 6.8% from a year earlier, and net income of $13.1 million, down 53.9%. The company reaffirmed its full-year 2025 guidance, which matters to shareholders because the quarter's profit decline came as the prior-year quarter included a $50 million backlog-reduction benefit.
Net sales were $290.0 million, down 6.8%, with a 5.0% organic decline driven by volume.
Diluted EPS was $0.69 versus $1.49; adjusted diluted EPS was $1.12 versus $1.81.
Adjusted EBITDA was $41.0 million, down 25.3%, and the adjusted EBITDA margin was 14.1%, down 360 basis points.
The company reaffirmed 2025 guidance, including net sales of $1,210 to $1,250 million and diluted EPS of $3.80 to $4.30.
Rush Enterprises reported first-quarter 2025 revenue of $1.85 billion, down 1.1% from $1.87 billion a year earlier, and net income of $60.3 million, or $0.73 per diluted share, versus $71.6 million, or $0.88 per diluted share, in the first quarter of 2024. The company also declared a quarterly cash dividend of $0.18 per share, and management cited weak new Class 8 truck demand tied to tariff and emissions uncertainty.
Revenue of $1.85 billion, down 1.1% from $1.87 billion in Q1 2024
Net income of $60.3 million, or $0.73 per diluted share, versus $71.6 million, or $0.88, a year earlier
Quarterly dividend of $0.18 per share, payable June 12, 2025, to holders of record as of May 12, 2025
Aftermarket revenue fell to $619.1 million from $649.2 million; absorption ratio was 128.6% versus 130.1%
Rayonier reported a first-quarter 2025 net loss attributable to the company of $3.4 million, or $0.02 per share, on revenues of $82.9 million, compared with net income of $1.4 million on $113.7 million a year earlier. The company also revised full-year 2025 guidance to move its New Zealand operations to discontinued operations, with Adjusted EBITDA guidance of $215 to $235 million, which it said is generally in line with prior guidance excluding New Zealand.
Q1 2025 net loss attributable to Rayonier was $3.4 million ($0.02 per share), versus net income of $1.4 million ($0.01 per share) in Q1 2024
Q1 Adjusted EBITDA was $27.1 million, down from $44.6 million a year earlier
Full-year 2025 Adjusted EBITDA guidance is $215 to $235 million; net income guidance is $424 to $458 million, including the anticipated gain on the New Zealand sale
Second-quarter 2025 guidance: net income attributable to Rayonier of $3 to $8 million and Adjusted EBITDA of $30 to $40 million
Albany International reported first-quarter 2025 results, with net revenues of $289 million, down 7.8% from a year earlier, and net income attributable to the company of $17 million ($0.56 per share), compared with $27 million ($0.87 per share) in the first quarter of 2024. The company reaffirmed its full-year 2025 guidance, including adjusted diluted EPS of $3.00 to $3.40, and will hold an earnings webcast on May 1, 2025.
Net revenues were $289 million, down 7.8% year over year (6.9% excluding currency translation effects).
Net income attributable to the company was $17 million ($0.56 per share), versus $27 million ($0.87 per share) a year earlier; adjusted diluted EPS was $0.73, versus $0.90.
Adjusted EBITDA was $56 million, down 14.8% from $65 million in the first quarter of 2024.
Full-year 2025 guidance was reaffirmed, including total company revenue of $1.165 billion to $1.265 billion and adjusted diluted EPS of $3.00 to $3.40.
Genworth reported first quarter 2025 net income of $54 million, or $0.13 per diluted share, down from $139 million, or $0.31 per diluted share, in the first quarter of 2024. Adjusted operating income was $51 million, or $0.12 per diluted share, compared with $85 million, or $0.19, a year earlier, though it improved from $15 million in the fourth quarter of 2024. The results show lower earnings year over year, with Enact the main earnings contributor.
Net income $54 million ($0.13 per diluted share) in Q1 2025 vs. $139 million ($0.31) in Q1 2024 and a $1 million loss in Q4 2024
Adjusted operating income $51 million ($0.12 per diluted share) vs. $85 million ($0.19) in Q1 2024
Enact raised its quarterly dividend to $0.21 per share from $0.185 and announced a new buyback authorization of up to $350 million
Holding company cash and liquid assets were $211 million at March 31, 2025, down from $294 million at December 31, 2024
Crown Castle reported first-quarter 2025 results with a net loss of $464 million, compared with net income of $311 million a year earlier, driven by an $830 million loss tied to its agreement to sell the Fiber Business. Site rental revenues fell 5% to $1,011 million and Adjusted EBITDA fell 4% to $722 million, though the company kept its full-year 2025 outlook unchanged and said it expects to reduce its annualized dividend to $4.25 per share in the second quarter.
Q1 2025 net loss of $464 million, or $(1.07) per diluted share, versus net income of $311 million in Q1 2024
Site rental revenues of $1,011 million, down 5%; Adjusted EBITDA of $722 million, down 4%; AFFO of $479 million, or $1.10 per share, down 1%
Full-year 2025 outlook maintained, including AFFO of $1,770 million to $1,820 million
Fiber Business sale to EQT and Zayo for $8.5 billion in aggregate is expected to close in the first half of 2026
MGM Resorts reported first-quarter 2025 consolidated net revenues of $4.3 billion, down 2% from the prior year quarter, with net income attributable to the company falling to $149 million from $217 million and diluted EPS falling to $0.51 from $0.67. The company attributed the decline primarily to lower net revenues at the Las Vegas Strip Resorts and MGM China. The Board also authorized a new $2 billion stock repurchase plan, which does not obligate the company to buy any shares and may be suspended or discontinued at any time.
Consolidated net revenues of $4.3 billion, down 2% from the prior year quarter
Net income attributable to MGM Resorts of $149 million versus $217 million; diluted EPS of $0.51 versus $0.67
Adjusted EPS of $0.69 versus $0.74 in the prior year quarter
New $2 billion repurchase plan, in addition to the November 2023 plan with about $337 million remaining as of March 31, 2025
Coca-Cola Consolidated reported first-quarter 2025 results on April 30, 2025, with net sales down 0.7% to $1.6 billion and income from operations down 11.9% to $189.8 million. Volume fell 6.6%, partly due to two fewer selling days and a change in how Dasani water is distributed at Walmart, and net income declined to $103.6 million from $165.7 million. For shareholders, the headline profit measures weakened, although operating cash flow rose to $198.2 million.
Net sales were $1,580.0 million, down 0.7%; two fewer selling days cost approximately $40 million of net sales
Income from operations was $189.8 million, down 11.9% from $215.4 million
Net income was $103.6 million versus $165.7 million; adjusted net income was $136.3 million versus $162.5 million
Operating cash flow was $198.2 million; the company expects 2025 capital expenditures of approximately $300 million
Axos Financial reported fiscal third-quarter 2025 results for the period ended March 31, 2025, with net income of $105.2 million and diluted EPS of $1.81, both down from the prior-year quarter. Net loan growth exceeded $700 million, and the company repurchased about $28 million of stock in the quarter plus another $30 million from April 1 to April 30, 2025.
Net income was $105.2 million, down 5.0% from $110.7 million a year earlier; diluted EPS was $1.81, versus $1.91
Adjusted EPS was $1.81, versus $1.94 in the same quarter last year
Net interest income rose 5.3% to $275.5 million, while the provision for credit losses rose to $14.5 million from $6.0 million
Repurchased about $28 million of common stock in the quarter and another $30 million from April 1 to April 30, 2025
Align Technology reported first quarter 2025 results, with total revenue of $979.3 million, down 1.8% from a year earlier, and diluted EPS of $1.27, down from $1.39. The company said results were in line with its outlook and guided second-quarter 2025 revenue to $1,050 million to $1,070 million, and fiscal 2025 revenue growth to 3.5% to 5.5% at current spot rates.
Q1'25 revenue was $979.3 million, down 1.8% year-over-year; foreign exchange reduced revenue by about $31.1 million year-over-year.
Q1'25 GAAP net income was $93.2 million, or $1.27 per diluted share, versus $1.39 a year earlier; non-GAAP diluted EPS was $2.13.
Clear Aligner volume rose 6.2% year-over-year to 642.3 thousand cases, while Clear Aligner revenue fell 2.5% to $796.8 million.
Guidance: Q2'25 revenue of $1,050 million to $1,070 million; fiscal 2025 GAAP operating margin about 2 points above 2024, and capital expenditures of $100 million to $150 million.
Warrior Met Coal reported a first-quarter 2025 net loss of $8.2 million, or $0.16 per diluted share, versus net income of $137.0 million, or $2.62 per share, a year earlier. Total revenues fell to $299.9 million from $503.5 million as the Platts Premium Low Vol index price dropped 40% year over year, though the company said cost control kept cash margins positive. The company left its 2025 guidance unchanged and said tariff effects are not yet quantified, with an update planned for its early August 2025 earnings call.
Q1 2025 net loss of $8.2 million ($0.16 per diluted share) vs. net income of $137.0 million ($2.62) in Q1 2024
Total revenues of $299.9 million vs. $503.5 million; Adjusted EBITDA of $39.5 million vs. $200.2 million
Cash flow from operations of $10.9 million; free cash flow was negative $68.4 million
2025 guidance unchanged; further outlook update expected with Q2 earnings call in early August 2025
ITW reported first-quarter 2025 revenue of $3.8 billion, down 3.4% from a year earlier, and GAAP diluted EPS of $2.38, which the company said was ahead of its plan expectations. It maintained its full-year 2025 GAAP EPS guidance of $10.15 to $10.55 per share, which shareholders will watch as tariff costs weigh on results. Revenue and EPS both declined year over year, so the report shows lower results even though guidance held.
Revenue was $3.8 billion, down 3.4%; organic revenue fell 1.6%, or was essentially flat on an equal days basis.
Diluted GAAP EPS was $2.38, compared with $2.73 a year earlier, which included a $0.29 one-time inventory accounting benefit; excluding that item, EPS declined two percent.
Operating margin was 24.8%, down 60 basis points on the adjusted comparison, and the company repurchased $375 million of its own shares in the quarter.
Full-year 2025 GAAP EPS guidance of $10.15 to $10.55 was maintained, with pricing actions expected to offset tariff cost impacts.
Oshkosh reported first-quarter 2025 net income of $112.2 million, or $1.72 per diluted share, down from $179.4 million, or $2.71, a year earlier, with sales down 9.1% to $2.31 billion. The company estimates tariffs could reduce 2025 earnings by about $1.00 per share, partly offset by up to $0.50 per share from cost reduction actions, which puts pressure on its prior full-year adjusted EPS outlook of about $11.00.
Adjusted EPS was $1.92 versus $2.89 a year earlier; operating income fell 32.5% to $175.4 million.
Access segment sales fell 22.7% to $957.1 million and segment operating income fell 50.5% to $103.1 million.
Tariffs could reduce 2025 earnings by about $1.00 per share, net of mitigation; cost actions could offset up to $0.50 per share.
Board declared a quarterly dividend of $0.51 per share, payable May 30, 2025 to holders of record as of May 16, 2025.
Newell Brands reported first quarter 2025 net sales of $1.6 billion, down 5.3% from a year earlier, with core sales down 2.1%. The reported net loss widened to $37 million from $9 million, while the company affirmed its full-year 2025 net sales, normalized operating margin and normalized EPS guidance. Shareholders face weaker sales and a larger loss, with the outlook dependent on mitigating a 125% China tariff that the company says is not in its current outlook.
Net sales were $1.6 billion, down 5.3%; core sales declined 2.1%.
Reported net loss was $37 million versus $9 million a year earlier; reported diluted loss per share was $0.09 versus $0.02.
Full-year 2025 normalized EPS outlook of $0.70 to $0.76 was unchanged; operating cash flow outlook narrowed to $400 million to $500 million.
If the 125% China tariff stays in effect all year without mitigation, the company estimates a reduction of about $0.20 in 2025 normalized EPS.
Reynolds Consumer Products reported first-quarter 2025 results, with net revenues of $818 million, down from $833 million a year earlier, and net income of $31 million, down from $49 million. The company updated its full-year 2025 outlook, now expecting Adjusted EBITDA of $650 million to $670 million and Adjusted EPS of $1.54 to $1.61, and declared a quarterly dividend of $0.23 per share.
Q1 2025 net revenues $818 million vs. $833 million in Q1 2024; retail volume decreased 4%
Q1 2025 net income $31 million vs. $49 million; EPS $0.15 vs. $0.23; Adjusted EBITDA $117 million vs. $122 million
Full-year 2025 outlook: Adjusted EBITDA $650 million to $670 million; Adjusted EPS $1.54 to $1.61
Quarterly dividend of $0.23 per share payable May 30, 2025, to holders of record as of May 16, 2025
Timken reported first-quarter 2025 sales of $1.14 billion, down 4.2% from a year earlier, with diluted EPS of $1.11 versus $1.46 and adjusted EPS of $1.40 versus $1.77. The company reduced its full-year 2025 outlook, citing a net tariff impact and expected slightly lower demand, which means shareholders face weaker expected earnings for the year.
First-quarter sales of $1.14 billion, down 4.2%; organic sales down 3.1%
Diluted EPS $1.11 vs. $1.46 a year ago; adjusted EPS $1.40 vs. $1.77
2025 EPS now forecast at $3.90 to $4.40; adjusted EPS at $5.10 to $5.60
Net direct tariff impact estimated at about $25 million in 2025
Navient reported a first-quarter 2025 GAAP net loss of $2 million, or $0.02 per diluted share, compared with net income of $73 million, or $0.64 per diluted share, a year earlier. Core Earnings were $26 million ($0.25 per diluted share), down from $54 million ($0.47) in the first quarter of 2024, though up from a Core loss of $25 million in the fourth quarter of 2024. For shareholders, the year-over-year decline in both GAAP and Core Earnings is the key takeaway.
GAAP net loss of $2 million ($0.02 diluted loss per share) vs. net income of $73 million ($0.64) in Q1 2024
Core Earnings of $26 million ($0.25 per diluted share) vs. $54 million ($0.47) in Q1 2024
Sale of government services business completed in February 2025 for net consideration of $44 million
Repurchased $35 million of common shares; $76 million of repurchase authority remains
O-I Glass reported a first-quarter 2025 net loss attributable to the company of $16 million, or $0.10 per diluted share, versus net earnings of $72 million, or $0.45 per share, a year earlier. Net sales were $1,567 million, down from $1,593 million, and the company cited $80 million of restructuring and asset impairment charges tied to its Fit To Win program. The company reaffirmed its 2025 adjusted EPS guidance of $1.20 to $1.50 and free cash flow guidance of $150 million to $200 million.
Net loss attributable to the company was $16 million, or $0.10 per diluted share, compared with net earnings of $72 million, or $0.45 per share, in Q1 2024; the results include $80 million of restructuring and asset impairment charges.
Adjusted EPS was $0.40 per diluted share, compared with $0.45 in the prior-year quarter.
Net sales were $1,567 million versus $1,593 million; segment operating profit was $209 million versus $235 million.
2025 guidance was unchanged: adjusted EPS of $1.20 to $1.50 and free cash flow of $150 million to $200 million. A conference call is scheduled for April 30, 2025, at 8:00 a.m. EDT.
PPG reported first-quarter 2025 net sales of $3.7 billion, down 4% from a year earlier, with reported EPS of $1.64 and adjusted EPS of $1.72, down 4% and 8%. Organic sales rose 1% on higher volumes, but currency translation and divestitures reduced reported sales. PPG reaffirmed its full-year 2025 adjusted EPS guidance of $7.75 to $8.05.
Net sales were $3,684 million versus $3,849 million, down 4%; organic sales rose 1%.
Reported EPS was $1.64 versus $1.71; adjusted EPS was $1.72 versus $1.87.
Share repurchases totaled approximately $400 million in the quarter; net debt was $5.4 billion, up $340 million year over year.
Full-year 2025 adjusted EPS guidance of $7.75 to $8.05 was reaffirmed, not changed.
JBG SMITH reported first-quarter 2025 results, with a net loss of $45.7 million ($0.56 per diluted share), up from $32.3 million ($0.36 per share) a year earlier. Core FFO fell to $7.2 million ($0.09 per diluted share) from $26.9 million ($0.29), and the company expects earnings to keep declining through mid-2025, which weighs on shareholder returns.
Net loss of $45.7 million ($0.56 per diluted share) vs. $32.3 million ($0.36) in Q1 2024
FFO was negative $6.2 million ($0.08 per diluted share) vs. $10.7 million ($0.12) in Q1 2024
Core FFO of $7.2 million ($0.09 per diluted share) vs. $26.9 million ($0.29); would have been $0.14 excluding an early lease termination
Management expects continued decreases in earnings and increases in Net Debt to Annualized Adjusted EBITDA through mid-2025
Benchmark Electronics reported first quarter 2025 revenue of $632 million, down from $676 million a year earlier, and GAAP diluted earnings of $0.10 per share, down from $0.38. CEO Jeff Benck said tariff-related uncertainty could affect some customer sourcing decisions in the near term, and the company guided second quarter 2025 revenue to $615 million to $665 million and non-GAAP diluted EPS to $0.52 to $0.58.
Revenue was $632 million, down from $676 million in the first quarter of 2024 and $657 million in the fourth quarter of 2024.
GAAP diluted EPS was $0.10 versus $0.38 a year earlier; non-GAAP diluted EPS was $0.52 versus $0.55.
Results include a $10.3 million legal and other settlement loss, which the filing says relates to a Mexico tax assessment.
Second quarter 2025 guidance: revenue of $615 million to $665 million and non-GAAP diluted EPS of $0.52 to $0.58.
Equitable Holdings reported first quarter 2025 net income attributable to Holdings of $63 million, or $0.16 per share, down from $92 million, or $0.23 per share, a year earlier. Non-GAAP operating earnings were $421 million, or $1.30 per share, compared with $477 million, or $1.39 per share, in the first quarter of 2024. The company also plans to raise its quarterly dividend to $0.27 per share from $0.24 in the second quarter and expects to close its life reinsurance transaction with RGA in mid-2025.
Net income attributable to Holdings was $63 million, or $0.16 per share, versus $92 million, or $0.23 per share, in Q1 2024.
Non-GAAP operating earnings were $421 million, or $1.30 per share, versus $477 million, or $1.39 per share; $1.35 per share after adjusting for notable items.
Novation of certain Legacy VA policies resulted in a $499 million pre-tax loss and a total impact loss of $236 million.
Quarterly dividend to rise to $0.27 per share from $0.24 in Q2; RGA life reinsurance transaction expected to close mid-2025.
Arch Capital Group reported first-quarter 2025 net income available to common shareholders of $564 million, or $1.48 per diluted share, down from $1.1 billion, or $2.92 per share, a year earlier. Results were hit by $547 million in pre-tax catastrophic losses, primarily related to the California wildfires, which pushed underwriting income down 43.3% to $417 million. Shareholders also saw book value per common share rise 3.8% to $55.15.
Net income available to common shareholders was $564 million, or $1.48 per share, versus $1.1 billion, or $2.92 per share, in the first quarter of 2024.
After-tax operating income was $587 million, or $1.54 per share, versus $933 million, or $2.45 per share, a year earlier.
Pre-tax current accident year catastrophic losses were $547 million, primarily related to the California wildfires.
Share repurchases totaled approximately $196 million in the quarter.
Werner Enterprises reported first-quarter 2025 total revenues of $712.1 million, down $57.0 million or 7%, and a net loss attributable to Werner of $10.1 million, compared with net income of $6.3 million a year earlier. Management said results were below its expectations due to elevated insurance costs, extreme weather, a smaller fleet and tariff-related changes in customer activity. The 2025 guidance table in the release shows the same ranges as before, so the filing does not change the outlook.
Total revenues were $712.1 million, down $57.0 million or 7% from $769.1 million in first quarter 2024.
Operating loss was $5.8 million versus $15.6 million of operating income a year earlier; operating margin was (0.8)%.
Diluted loss per share was $0.16 compared with diluted earnings per share of $0.10; cash flow from operations was $29.4 million versus $88.6 million.
The company did not repurchase shares in first quarter 2025 and had 3.9 million shares remaining under its authorization as of March 31, 2025.
Rogers Corporation reported first quarter 2025 net sales of $190.5 million and a net loss of $1.4 million, or $(0.08) per diluted share, compared with net income of $7.8 million a year earlier. Management said results were in line with its guidance and gave second quarter 2025 net sales guidance of $190 million to $205 million, with adjusted earnings per diluted share of $0.30 to $0.70.
Q1 2025 net sales were $190.5 million, down from $213.4 million in Q1 2024 and down 0.9% from Q4 2024.
GAAP diluted loss per share was $(0.08) in Q1 2025, versus earnings of $0.42 in Q1 2024.
Adjusted earnings per diluted share were $0.27, versus $0.58 in Q1 2024.
Q2 2025 guidance: net sales of $190 million to $205 million and GAAP earnings per diluted share of $0.00 to $0.40; cash and equivalents were $175.6 million at March 31, 2025.
First Commonwealth Financial reported first-quarter 2025 net income of $32.7 million, or $0.32 per diluted share, down from $35.8 million and $0.35 in the fourth quarter of 2024 and from $37.5 million and $0.37 a year earlier. The company also raised its quarterly cash dividend 3.9% to $0.135 per share and said it expects to complete its CenterGroup Financial acquisition on April 30, 2025.
Net income $32.7 million, or $0.32 per diluted share, for the quarter ended March 31, 2025, versus $35.8 million ($0.35) in Q4 2024 and $37.5 million ($0.37) in Q1 2024
Quarterly dividend raised to $0.135 per share from $0.130, payable May 23, 2025 to shareholders of record as of May 9, 2025
Net charge-offs fell to $3.1 million from $13.7 million in the prior quarter; the acquisition of CenterGroup Financial is expected to be completed April 30, 2025
LGI Homes reported first-quarter 2025 home sales revenues of $351.4 million, down from $390.9 million a year earlier, and net income of $4.0 million, or $0.17 per diluted share, versus $17.1 million, or $0.72 per diluted share, in the prior-year quarter. The company also lowered its full-year 2025 gross margin guidance, citing expected tariff-related supplier price increases, which weighs on shareholders' expected profitability for the year.
Q1 2025 home sales revenues were $351.4 million versus $390.9 million in Q1 2024; home closings were 996 versus 1,083.
Net income was $4.0 million, or $0.17 diluted EPS, compared with $17.1 million, or $0.72, a year earlier.
Full-year 2025 gross margin guidance was trimmed by 150 basis points at the low end and 100 basis points at the high end, to 21.7% to 23.2%; adjusted gross margin guidance is 24.0% to 25.5%.
Other full-year 2025 outlook items were reiterated, including 6,200 to 7,000 home closings and an average sales price of $360,000 to $370,000.
PACCAR reported first quarter 2025 revenue of $7.44 billion, down from $8.74 billion a year earlier, and net income of $505.1 million ($0.96 per diluted share), down from $1.20 billion ($2.27 per diluted share). The results include a $264.5 million after-tax charge for civil litigation in Europe, and the company said it is making progress on substantially resolving that litigation.
Consolidated revenue was $7.44 billion versus $8.74 billion in the first quarter of 2024.
Net income was $505.1 million ($0.96 per diluted share), including a $264.5 million after-tax EC-related litigation charge; adjusted net income (non-GAAP) was $769.6 million ($1.46 per diluted share).
PACCAR Parts reported record first quarter revenue of $1.69 billion, with pretax income of $426.5 million versus $455.8 million a year earlier.
Franklin Electric reported first quarter 2025 net sales of $455.2 million, down from $460.9 million a year earlier, and diluted EPS of $0.67 versus $0.70. The company kept its full-year 2025 sales guidance of $2.09 billion to $2.15 billion but lowered the low end of its EPS guidance to a range of $3.95 to $4.25.
Net sales $455.2 million vs $460.9 million in Q1 2024; operating income $44.1 million vs $47.9 million
Diluted EPS $0.67 vs $0.70 in Q1 2024; the company cited one-time expenses tied to its executive transition and recent acquisitions
2025 sales guidance maintained at $2.09 billion to $2.15 billion; EPS guidance low end reduced, now $3.95 to $4.25
Net cash used in operating activities was $19.5 million vs $1.4 million a year earlier
A. O. Smith reported first-quarter 2025 sales of $964 million, down 2% from a year earlier, as lower North American water heater volumes and weaker China sales offset higher boiler sales. Net earnings fell 7% to $136.6 million and diluted EPS fell 5% to $0.95. The company kept its full-year 2025 outlook unchanged, which matters to shareholders because the earnings decline in the quarter was not paired with a guidance change.
Q1 2025 net sales $963.9 million versus $978.8 million in Q1 2024 (down 2%)
Diluted EPS $0.95 versus $1.00 a year earlier; net earnings $136.6 million versus $147.6 million
2025 outlook maintained: sales flat to up 2%, diluted EPS $3.60 to $3.90
Q1 free cash flow $17.4 million versus $84.6 million; share repurchases totaled $120.6 million, with about $400 million expected for 2025
Asbury Automotive reported first quarter 2025 net income of $132 million, down 10% from $147 million a year earlier, and diluted EPS of $6.71 versus $7.21. Revenue fell 1% to $4.1 billion and gross profit fell 3% to $724 million. The company also announced a definitive agreement to acquire The Herb Chambers Automotive Group, which has approximately $3 billion in annual revenue.
Revenue of $4.1 billion, down 1%; gross profit of $724 million, down 3%
Net income of $132 million, down 10%; diluted EPS of $6.71 vs. $7.21 a year earlier; adjusted diluted EPS of $6.82
Definitive agreement to acquire The Herb Chambers Automotive Group, with approximately $3 billion in annual revenue
As of March 31, 2025, total liquidity of $964 million and transaction adjusted net leverage ratio of 2.75x
Polaris reported first-quarter 2025 sales of $1,536 million, down 12 percent from a year earlier, and a net loss attributable to Polaris of $67 million, or $1.17 per diluted share, compared with net income of $4 million, or $0.07 per diluted share, in the first quarter of 2024. The company withdrew its full-year 2025 sales and adjusted earnings guidance, citing trade and economic uncertainty, and introduced second-quarter 2025 sales guidance of $1.6 billion to $1.8 billion. For shareholders, the swing to a loss and the removal of the full-year outlook are the key facts in the release.
First-quarter sales were $1,536 million, down 12 percent; North America sales fell 11 percent to $1,290 million and International sales fell 16 percent to $246 million.
Net loss attributable to Polaris was $(1.17) per diluted share on a reported basis and $(0.90) on an adjusted basis, versus $0.07 per diluted share a year earlier.
Full-year 2025 sales and adjusted earnings guidance was withdrawn; second-quarter 2025 sales guidance is $1.6 billion to $1.8 billion.
CVR Energy reported a first-quarter 2025 net loss attributable to stockholders of $123 million, or $1.22 per diluted share, compared with net income of $82 million, or 81 cents per share, a year earlier. The company said refining results were hurt by planned and unplanned downtime at its Coffeyville refinery, and it will not pay a cash dividend for the quarter.
Net loss attributable to CVR Energy stockholders of $123 million ($1.22 per diluted share) vs. net income of $82 million (81 cents) in Q1 2024
Adjusted loss of 58 cents per diluted share vs. adjusted earnings of 4 cents in Q1 2024
Net sales of $1.6 billion vs. $1.9 billion in Q1 2024; no cash dividend for Q1 2025 vs. $0.50 declared per share in Q1 2024
Cash and cash equivalents of $695 million at March 31, 2025, down $292 million from December 31, 2024
Franklin BSP Realty Trust reported first-quarter 2025 GAAP net income of $23.7 million, or $0.20 per diluted share, down from $30.2 million in the fourth quarter of 2024. Distributable Earnings, a non-GAAP measure, were negative at $(6.2) million, or $(0.12) per share, after $38.2 million of realized losses, compared with $31.2 million in the prior quarter, so shareholders saw lower earnings and a distributable loss this quarter.
GAAP net income was $23.7 million, or $0.20 per diluted share, versus $30.2 million, or $0.29 per share, for the quarter ended December 31, 2024.
Distributable Earnings were $(6.2) million, or $(0.12) per fully converted share, versus $31.2 million, or $0.30, in the prior quarter; the release says $38.6 million of the related allowance charges were recognized in GAAP earnings in prev
Fully converted book value was $14.95 per share at March 31, 2025, versus $15.19 at the end of 2024; a $0.355 common dividend was declared.
The company signed a definitive agreement to acquire NewPoint Holdings JV LLC, a privately held commercial real estate finance company headquartered in Plano, Texas.
UFP Industries reported first quarter 2025 results for the quarter ended March 29, 2025, with net sales of $1.60 billion, down 2.7% year over year, and earnings per diluted share of $1.30 versus $1.96 a year earlier. Management said the quarter was more challenging than anticipated and expects softer demand and competitive pricing to continue through the rest of 2025, which points to weaker profitability for shareholders.
Net earnings attributable to controlling interests were $78.8 million, a 35% decrease from $120.8 million a year earlier.
Adjusted EBITDA was $142.2 million, or 8.9% of sales, compared with $180.8 million, or 11.0% of sales, in the first quarter of 2024.
Cash was $903.6 million as of March 29, 2025, and the board raised the quarterly dividend to $0.35 per share from $0.33.
Management anticipates overall demand to be slightly down in each segment for the remainder of 2025.
Cincinnati Financial reported a first-quarter 2025 net loss of $90 million, or $0.57 per share, compared with net income of $755 million, or $4.78 per share, a year earlier. The company said the result reflected catastrophe losses from California wildfires and spring storms, along with a $56 million after-tax reduction in the fair value of equity securities it still holds. Book value per share fell to $87.78 at March 31, 2025, down $1.33 since year-end, which lowers the per-share value shareholders hold.
First-quarter 2025 net loss of $90 million, or $0.57 per share, versus net income of $755 million, or $4.78 per share, in first-quarter 2024
Property casualty combined ratio of 113.3%, up from 93.6%, including 25 points related to natural catastrophe losses
Total revenues of $2.566 billion for the quarter, down 13% from $2.935 billion a year earlier
Book value per share of $87.78 at March 31, 2025, down $1.33 since year-end 2024; cash dividend declared of $0.87 per share
Amkor Technology reported first-quarter 2025 net sales of $1.32 billion, down from $1.37 billion a year earlier, and earnings of $0.09 per diluted share, down from $0.24. For the second quarter, the company guided to net sales of $1.375 billion to $1.475 billion and EPS of $0.07 to $0.23, and it said it is monitoring tariffs and trade regulations.
Q1 2025 net sales were $1.32 billion, versus $1.37 billion in Q1 2024 and $1.63 billion in Q4 2024.
Net income attributable to Amkor was $21 million, or $0.09 per diluted share, versus $59 million, or $0.24, in Q1 2024.
Q2 2025 guidance: net sales of $1.375 billion to $1.475 billion, gross margin of 11.5% to 13.5%, and EPS of $0.07 to $0.23.
At March 31, 2025, cash and short-term investments totaled $1.6 billion and total debt was $1.1 billion.
Alexandria Real Estate Equities reported a first-quarter 2025 net loss attributable to common stockholders of $11.6 million, or $(0.07) per diluted share, compared with net income of $166.9 million, or $0.97 per share, a year earlier. Total revenues fell to $758.2 million from $769.1 million, and diluted FFO per share, as adjusted, declined to $2.30 from $2.35, so shareholders saw lower revenue, a swing to a loss and lower FFO per share.
Net loss attributable to common stockholders of $11.6 million, or $(0.07) per diluted share, for the quarter ended March 31, 2025, versus net income of $166.9 million, or $0.97 per share, in the prior-year quarter
Total revenues of $758.2 million, down from $769.1 million in the prior-year quarter
Diluted FFO per share, as adjusted, of $2.30, down from $2.35; FFO attributable to common stockholders was $392.0 million, down from $403.9 million
Net investment-related losses of $98.6 million in the quarter, including $68.1 million of unrealized losses on non-real estate investments and $32.2 million of impairment of real estate
Merchants Bancorp reported first quarter 2025 net income of $58.2 million, or $0.93 per diluted share, down from $87.1 million, or $1.80 per share, in the first quarter of 2024. The company cited market uncertainty that delayed loan closings and reduced gain on sale and net interest margin, and it said non-performing loans rose, which matters to shareholders because earnings per share roughly halved year over year.
Diluted EPS of $0.93 fell 48% from $1.80 a year earlier and 50% from the fourth quarter of 2024.
Net interest margin was 2.89%, down from 3.14% a year earlier, as lower-margin warehouse loans grew.
Non-performing loans were $284.6 million, or 2.73% of loans receivable, up from $131.8 million, or 1.22%, a year earlier.
Portland General Electric reported first-quarter 2025 GAAP net income of $100 million, or $0.91 per diluted share, down from $109 million, or $1.08, a year earlier. Total revenues were $928 million, compared with $929 million, and the company reaffirmed its 2025 adjusted earnings guidance of $3.13 to $3.33 per diluted share. The lower profit and unchanged guidance matter to shareholders because the company's first-quarter earnings fell year over year while its full-year outlook was held.
Q1 2025 GAAP net income was $100 million, or $0.91 per diluted share, versus $109 million, or $1.08, in Q1 2024
Q1 2024 non-GAAP net income, excluding January 2024 storm costs, was $123 million, or $1.21 per diluted share
2025 adjusted EPS guidance of $3.13 to $3.33 was reaffirmed; the company also declared a quarterly dividend of $0.525 per share payable by July 15, 2025
Earnings call and webcast are scheduled for 11 a.m. ET on April 25, 2025
Gentex reported first-quarter 2025 net sales of $576.8 million, down 2% from $590.2 million a year earlier, and net income of $94.9 million, down from $108.2 million. The company cut its 2025 revenue guidance for its primary markets and withdrew its 2026 revenue guidance, citing tariffs and a halt to production for the China market, which lowers the outlook for shareholders.
Q1 diluted EPS was $0.42 versus $0.47 a year earlier; auto-dimming mirror unit shipments fell 7%.
2025 primary-market revenue guidance was lowered to $2.10 billion to $2.2 billion from $2.40 billion to $2.45 billion, plus $50 million to $120 million from China.
The company halted production of mirrors for the China market, and many China-based customers have canceled or paused orders.
Calendar 2026 revenue guidance was withdrawn; the company will provide an update once there is more clarity on tariffs.
PHINIA reported first-quarter 2025 net sales of $796 million, down 7.8% from $863 million a year earlier, and net earnings of $26 million, down from $29 million. Adjusted EBITDA fell to $103 million from $131 million, and adjusted diluted EPS was $0.94 versus $1.08. The company reaffirmed its full-year 2025 guidance, which calls for net sales of $3.23 billion to $3.43 billion.
Net sales were $796 million, down 7.8%; excluding currency and ended contract manufacturing agreements, sales fell $34 million or 4.1% on lower OEM sales in all regions.
Adjusted EBITDA was $103 million, down $28 million, with an adjusted EBITDA margin of 12.9%, citing lower sales, a nonrecurring supplier settlement, higher stand-alone costs and tariff impacts.
Diluted EPS was $0.63 versus $0.62; adjusted diluted EPS was $0.94 versus $1.08 in Q1 2024.
Returned $111 million to shareholders, including $100 million of share repurchases; cash and equivalents ended the quarter at $373 million and total debt at $989 million.
SLB reported first-quarter 2025 revenue of $8.49 billion, down 3% year on year, with GAAP diluted EPS of $0.58, down 22%, and net income attributable to SLB of $797 million, down 25%. The company said it remains committed to returning a minimum of $4 billion to shareholders in 2025 through dividends and share repurchases and declared a quarterly dividend of $0.285 per share.
Adjusted EBITDA was $2.02 billion, down 2% year on year, with an adjusted EBITDA margin of 23.8%, up 18 bps year on year.
Diluted EPS excluding charges and credits was $0.72, down 4% year on year; cash flow from operations was $660 million, up $333 million year on year.
Digital & Integration revenue rose 6% year on year to $1.01 billion, while Well Construction revenue fell 12% to $2.98 billion.
The quarterly dividend of $0.285 per share is payable on July 10, 2025, to holders of record on June 4, 2025.
Virtus Investment Partners reported first-quarter 2025 results on April 25, 2025, showing revenue of $217.9 million, down 2% from a year earlier, and GAAP diluted earnings per share of $4.05, down from $4.10. Adjusted diluted EPS was $5.73, up from $5.41, and ending assets under management fell to $167.5 billion, which shareholders may watch as a measure of future fee income.
Total revenues $217.9 million, down 2% from $222.0 million in Q1 2024 and down 7% from $233.5 million in Q4 2024
GAAP diluted EPS $4.05 vs $4.10 a year earlier; adjusted diluted EPS $5.73 vs $5.41
Ending assets under management $167.5 billion, down 7% from $179.3 billion a year earlier; net outflows of $3.0 billion
Cash dividends declared of $2.25 per common share for the quarter, vs $1.90 a year earlier
Rithm Capital reported first quarter 2025 results for the quarter ended March 31, 2025, in a press release furnished as Exhibit 99.1. GAAP net income attributable to common stockholders was $36.5 million, or $0.07 per diluted share, down from $263.2 million, or $0.50, in the fourth quarter of 2024. Earnings available for distribution, a non-GAAP measure, was $275.3 million, or $0.52 per diluted share, versus $0.60 in the prior quarter, while the quarterly common dividend held at $0.25 per share.
GAAP net income attributable to common stockholders: $36.5 million, or $0.07 per diluted share, versus $263.2 million, or $0.50, in Q4 2024
Earnings available for distribution: $275.3 million, or $0.52 per diluted share, versus $315.8 million, or $0.60, in Q4 2024
Common dividend of $0.25 per share, totaling $132.5 million, unchanged from the prior quarter; book value per common share was $12.39
Newrez pre-tax income excluding MSR mark-to-market and hedge impact was $270.1 million, down from $280.2 million in Q4 2024
LyondellBasell reported first quarter 2025 net income of $177 million, or $0.54 per diluted share, down from $473 million, or $1.44 per share, in the first quarter of 2024. Sales fell to $7,677 million from $8,304 million, and the company announced a $500 million Cash Improvement Plan to strengthen results amid ongoing industry weakness.
Sales and other operating revenues were $7,677 million, versus $8,304 million in Q1 2024 and $7,808 million in Q4 2024.
EBITDA was $655 million, or $576 million excluding identified items, versus $1,046 million in Q1 2024.
Cash used by operating activities was $579 million; the company returned $543 million to shareholders through dividends and buybacks.
The 2025 Cash Improvement Plan targets $500 million in strengthened financial results.
Carter's reported first quarter fiscal 2025 results with net sales of $629.8 million, down 4.8% from $661.5 million a year earlier, and GAAP diluted EPS of $0.43 versus $1.04. The company suspended its forward guidance, citing its recent CEO transition and uncertainty over proposed new tariffs, so shareholders have no updated outlook for the year.
Net sales $629.8 million, down 4.8% from $661.5 million; operating income $26.1 million versus $55.0 million, with operating margin of 4.1% versus 8.3%
Diluted EPS $0.43 versus $1.04; adjusted diluted EPS $0.66, excluding $6.1 million of leadership transition costs and $3.2 million of operating model improvement costs
Forward guidance suspended, citing the CEO transition and tariff uncertainty
Dividends paid totaled $29.0 million; no shares were repurchased and net cash used in operations was $48.6 million
Minerals Technologies reported a first-quarter 2025 net loss attributable to the company of $144.0 million, or $4.51 per diluted share, after a $215 million reserve for talc-related claims and the Chapter 11 case of subsidiary BMI OldCo. Net sales fell 8% to $492 million, and excluding special items, earnings were $1.14 per share compared with $1.49 a year earlier. Management said sales improved in March and expects that to continue through the second quarter.
Net loss attributable to the company was $144.0 million, or $4.51 per diluted share, versus net income of $46.7 million, or $1.44 per diluted share, in the first quarter of 2024.
A $215 million provision covers estimated costs to fund a trust for talc-related claims and BMI OldCo's Chapter 11 case, including $30 million of debtor-in-possession financing.
Net sales were $492 million, down 8% year over year, with Consumer & Specialties sales down 10% and Engineered Solutions sales down 6%.
A cost savings program targets about $10 million in annualized savings, with a $5.5 million charge in the quarter and full run rate savings expected by early 2026.
Pool Corporation reported first-quarter 2025 results on April 24, 2025, with net sales down 4% to $1.1 billion, operating income down 29%, and diluted EPS down 30% to $1.42. The company confirmed its full-year 2025 diluted EPS guidance range of $11.10 to $11.60, which includes a $0.10 per share tax benefit recorded in the quarter, so shareholders face weaker first-quarter profit with the annual outlook unchanged.
Net income fell to $53.5 million from $78.9 million; diluted EPS was $1.42 versus $2.04 a year earlier, which included a $0.24 benefit from an import tax reversal
Gross margin decreased 100 basis points to 29.2%; selling and administrative expenses rose 2% to $234.8 million
Full-year 2025 diluted EPS guidance of $11.10 to $11.60 was confirmed; net cash from operations was $27.2 million versus $145.4 million a year earlier
Darling Ingredients reported a first-quarter 2025 net loss attributable to the company of $26.2 million, or $0.16 per diluted share, compared with net income of $81.2 million, or $0.50 per share, a year earlier. Total net sales fell to $1.38 billion from $1.42 billion, and Combined Adjusted EBITDA fell to $195.8 million from $280.1 million, which the company attributed to lower earnings at its Diamond Green Diesel joint venture. The company reaffirmed its 2025 Combined Adjusted EBITDA guidance of $1.25 to $1.30 billion, so shareholders face weaker recent results without a guidance cut.
Net loss attributable to Darling of $26.2 million, or $0.16 per diluted share, versus net income of $81.2 million, or $0.50 per share, in Q1 2024
Total net sales of $1.38 billion versus $1.42 billion a year earlier, reflecting lower finished product pricing
Combined Adjusted EBITDA of $195.8 million versus $280.1 million; equity in net loss of Diamond Green Diesel was $30.5 million
2025 Combined Adjusted EBITDA guidance of $1.25 to $1.30 billion reaffirmed; repurchased about $35 million of common stock and paid down $146.2 million of debt in the quarter
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