1,080 material Form 8-K filings that 839 companies we cover made with the SEC in May 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).
American Eagle Outfitters reported a first-quarter operating loss of $85 million, compared with operating income of $78 million a year earlier, and diluted loss of $0.36 per share versus earnings of $0.34. Net revenue fell 5% to $1.1 billion, and the company withdrew its fiscal 2025 outlook while giving second-quarter operating income guidance of $40 to $45 million.
Net revenue of $1.1 billion fell 5%; comparable sales declined 3%
GAAP operating loss of $(85) million vs. operating income of $78 million a year earlier; diluted loss of $(0.36) per share
Gross margin fell to 29.6% from 40.6%, driven by inventory writedowns, higher markdowns and increased product costs
Second-quarter operating income guidance of $40 to $45 million; fiscal 2025 outlook remains withdrawn; 2025 capital expenditures now expected at about $275 million vs. prior guidance of about $300 million
Roivant reported a loss from continuing operations of $252.4 million for the three months ended March 31, 2025, compared with a $95.0 million loss a year earlier, on revenue of $7.6 million versus $9.0 million. For the fiscal year, it reported a $729.8 million loss from continuing operations, compared with income of approximately $4.5 billion in the prior year, which included a gain on the Telavant net assets sale. The company repurchased $1.3 billion of shares, cutting outstanding shares by 14%, and ended the period with $4.9 billion in cash, cash equivalents, restricted cash and marketable securities.
Q4 revenue was $7.6 million versus $9.0 million a year earlier; R&D expenses rose to $145.2 million from $107.6 million
Fiscal year loss from continuing operations of $729.8 million, compared with income of approximately $4.5 billion in fiscal 2024
Share repurchases of $1.3 billion as of March 31, 2025, reducing outstanding shares by 14% from March 31, 2024
Cash, cash equivalents, restricted cash and marketable securities of $4.9 billion at March 31, 2025
REX American Resources reported fiscal first quarter 2025 results for the three months ended April 30, 2025. Net sales and revenue, net income attributable to REX shareholders, and diluted earnings per share all declined from the year-earlier quarter, while the company repurchased 822,256 shares for about $32.7 million.
Net sales and revenue were $158.3 million, down from $161.2 million in Q1 2024, which the company attributed mainly to lower volumes and lower sales prices for distiller grains.
Net income attributable to REX shareholders was $8.7 million, versus $10.2 million a year earlier; diluted EPS was $0.51, versus $0.58.
Gross profit was $14.3 million, compared with $14.5 million in Q1 2024.
As of April 30, 2025, REX had $315.9 million of cash, cash equivalents and short-term investments and no bank debt; 1,181,963 shares remained under the board repurchase authorization.
Dorian LPG reported results for the fourth quarter and fiscal year ended March 31, 2025. Fourth-quarter revenues fell 46.3% to $75.9 million, and net income dropped to $8.1 million, or $0.19 per diluted share, from $79.2 million, or $1.96, a year earlier. The company also declared an irregular cash dividend of $0.50 per share, totaling $21.3 million, payable on or about May 30, 2025, to holders of record as of May 16, 2025.
Q4 revenues were $75.9 million, down from $141.4 million; the fleet TCE rate fell 44.3% to $35,324 per day.
Fiscal year revenues were $353.3 million versus $560.7 million; net income was $90.2 million, or $2.14 per diluted share, versus $307.4 million, or $7.60.
Irregular dividend of $0.50 per share totaling $21.3 million, payable on or about May 30, 2025.
Q4 vessel operating expenses rose 17.1% to $23.9 million.
DXC Technology reported fourth-quarter fiscal 2025 revenue of $3.17 billion, down 6.4% from a year earlier, and non-GAAP diluted EPS of $0.84, down 13.4%. For fiscal 2026 it guided to revenue of $12.18 billion to $12.44 billion, a decline of 5.0% to 3.0% on an organic basis, and non-GAAP diluted EPS of $2.75 to $3.25, against $3.43 in fiscal 2025. Reported GAAP diluted EPS of $1.43 included a $232 million pension and OPEB actuarial gain, so the adjusted figures better show the operating trend.
Q4 fiscal 2025 revenue was $3.17 billion, down 6.4% year-over-year (down 4.2% organic); non-GAAP diluted EPS was $0.84, down 13.4%.
GAAP diluted EPS was $1.43 versus a loss of $1.10 a year earlier; the quarter included a $232 million pension and OPEB actuarial gain.
Fiscal 2026 guidance: revenue of $12.18 billion to $12.44 billion and non-GAAP diluted EPS of $2.75 to $3.25.
Conference call to discuss results set for 5:00 p.m. ET on May 14, 2025.
Landstar System reported first-quarter 2025 revenue of $1.153 billion, down from $1.171 billion a year earlier, and EPS of $0.85 versus $1.32. The company attributed the drop to a $4.8 million pre-tax charge from a supply chain fraud at its international freight forwarding operations and to insurance and claims costs of 9.3% of BCO revenue, versus a 4.9% historical average. The board also declared a quarterly dividend of $0.40 per share, an 11% increase.
Revenue was $1.153 billion versus $1.171 billion in the first quarter of 2024; operating income was $39.4 million versus $60.0 million.
The $4.8 million pre-tax fraud charge reduced EPS by $0.10; the company had previously estimated the total after-tax impact would not exceed $0.43 per share.
Landstar repurchased about 386,000 shares for $60.9 million and paid $83.3 million in dividends during the quarter.
The quarterly dividend of $0.40 per share is payable June 24, 2025, to holders of record on June 5, 2025.
Under Armour reported fourth-quarter fiscal 2025 revenue down 11% to $1.2 billion and a net loss of $67 million, compared with net income of $6.6 million a year earlier. For the full year, revenue fell 9% to $5.2 billion and the net loss was $201 million. The company expects first-quarter fiscal 2026 revenue to fall 4% to 5% and projects a diluted loss per share of $0.00 to $0.02, citing trade policy and tariff uncertainty.
Q4 net loss of $67 million, or $0.16 per diluted share, versus net income of $6.6 million, or $0.02 per diluted share, a year earlier
Full-year net loss of $201 million, or $0.47 per share; adjusted net income of $135 million, or $0.31 per share
Q1 fiscal 2026 outlook: revenue down 4% to 5%, operating income of $5 million to $15 million, diluted loss per share of $0.00 to $0.02
Repurchased $25 million of Class C stock in Q4; $90 million repurchased to date under a three-year, $500 million program
Maiden Holdings reported a first-quarter 2025 net loss of $8.6 million, or $0.09 per diluted share, compared with net income of $1.5 million in the first quarter of 2024. Book value per common share fell 17.4% to $0.38 at March 31, 2025, while the company said its pending Kestrel combination and sale of its International Insurance Services operation are targeted for the second quarter of 2025.
Q1 2025 net loss attributable to common shareholders was $8.6 million, or $0.09 per diluted share, versus net income of $1.5 million in Q1 2024.
Underwriting income was $7.5 million, compared with an underwriting loss of $7.5 million in Q1 2024, driven by $12.4 million of favorable prior year loss development.
Book value per common share decreased 17.4% to $0.38; adjusted book value per share decreased 6.6% to $1.42 at March 31, 2025.
Shareholders approved all Kestrel proposals on April 29, 2025; the company targets completing the Kestrel and IIS transactions in the second quarter of 2025.
United Parks & Resorts reported first quarter 2025 results, with total revenue of $286.9 million, down 3.5% from a year earlier, and a net loss of $16.1 million, compared with $11.2 million in the first quarter of 2024. The company attributed the weaker results mainly to the shift of Easter and Spring Break from the first quarter into the second, and CEO Marc Swanson said the company continues to expect new records in revenue and Adjusted EBITDA in 2025.
Total revenue was $286.9 million, down $10.5 million or 3.5%, and attendance was 3.4 million guests, down 1.7%.
Net loss was $16.1 million, or $0.29 per diluted share, compared with $11.2 million, or $0.17 per diluted share, a year earlier.
Adjusted EBITDA was $67.4 million, down $11.7 million or 14.8%; net cash from operating activities was $25.7 million, down from $71.4 million.
April 2025 attendance rose 8.1% compared with April 2024, and the company said it continues to expect new records in revenue and Adjusted EBITDA in 2025.
Alpha Metallurgical Resources reported a first-quarter 2025 net loss of $33.9 million, or $2.60 per diluted share, and Adjusted EBITDA of $5.7 million, compared with net income of $127.0 million in the first quarter of 2024. The company lowered its 2025 metallurgical coal shipment guidance and its capital expenditure guidance, and it increased its asset-based revolving credit facility to $225 million, which matters to shareholders because weaker volumes and pricing are reducing earnings.
Q1 2025 net loss of $33.9 million ($2.60 per diluted share) versus net income of $127.0 million in Q1 2024
Adjusted EBITDA of $5.7 million, down from $189.6 million a year earlier; Met segment realization fell to $118.61 per ton from $166.68
2025 metallurgical shipment guidance cut to 13.8 million to 14.8 million tons from 14.5 million to 15.5 million; capex guidance lowered to $130 million to $150 million
ABL facility increased from $155 million to $225 million and extended to May 4, 2029; annual meeting on May 7, 2025 re-elected all six directors
Sylvamo reported first-quarter 2025 net income of $27 million, or $0.65 per diluted share, down from $81 million in the fourth quarter of 2024 and $43 million a year earlier, on net sales of $821 million. Free cash flow was negative $25 million. The company guided second-quarter adjusted EBITDA to $75 million to $95 million, compared with $90 million in the first quarter, and said it expects quarterly earnings to improve in the second half, which matters to shareholders because profit and cash generation weakened this quarter.
Q1 2025 net income was $27 million ($0.65 per diluted share), versus $81 million ($1.94) in Q4 2024 and $43 million in Q1 2024.
Net sales were $821 million, versus $970 million in Q4 2024 and $905 million in Q1 2024; adjusted EBITDA was $90 million (11.0% margin).
Free cash flow was $(25) million in Q1 2025, versus $100 million in Q4 2024.
Q2 2025 adjusted EBITDA outlook is $75 million to $95 million, and planned maintenance outage expenses are expected to rise by $36 million.
Innospec reported first-quarter 2025 revenue of $440.8 million, down 12% from $500.2 million a year earlier, and diluted GAAP EPS of $1.31 versus $1.65. Management said tariff uncertainty will delay its recovery targets in Performance Chemicals and Oilfield Services, while the board raised the semi-annual dividend 10% to $0.84 per share.
Revenue $440.8 million vs $500.2 million; net income $32.8 million vs $41.4 million
Adjusted non-GAAP EPS $1.42 vs $1.75; Oilfield Services revenue fell 37% to $102.1 million
Semi-annual dividend of $0.84 per share, payable May 30, 2025 to holders of record May 20, 2025
Cash and cash equivalents of $299.8 million at March 31, 2025 with no debt
AMN Healthcare reported first-quarter 2025 revenue of $690 million, down 16% from a year earlier, and a net loss of $1 million, or $0.03 per diluted share, compared with net income of $17 million, or $0.45 per share, in the first quarter of 2024. Adjusted diluted EPS fell to $0.45 from $0.97, and second-quarter revenue guidance of $645 million to $660 million points to a further decline of 11% to 13% from the prior year, which weighs on the outlook for shareholders.
Q1 2025 revenue was $690 million, down 16% year over year and 6% sequentially; gross margin was 28.7%, down 270 basis points year over year.
Net loss was $1 million, or ($0.03) per diluted share, versus net income of $17 million, or $0.45 per share, in Q1 2024.
Second-quarter 2025 revenue guidance is $645 million to $660 million, 11% to 13% lower than the prior year.
Cash flow from operations was $93 million in the first quarter, and the company reduced debt by $60 million.
Sensata reported first quarter 2025 revenue of $911.3 million, down 9.5% from a year earlier, and adjusted EPS of $0.78, down 12.4%. For the second quarter, the company expects revenue of $910 million to $940 million and adjusted EPS of $0.80 to $0.86, including roughly $20 million of expected tariff recovery from customers.
Q1 revenue $911.3 million, down $95.5 million (9.5%) from $1,006.7 million
Q1 GAAP diluted EPS $0.47 vs $0.50; adjusted EPS $0.78 vs $0.89
Q2 2025 guidance: revenue $910 million to $940 million; adjusted EPS $0.80 to $0.86
Free cash flow $86.6 million; $118.4 million returned to shareholders, including $100.5 million in share repurchases
Trex reported first-quarter 2025 net sales of $340 million, down from $374 million a year earlier, and net income of $60 million, or $0.56 per diluted share, versus $89 million, or $0.82, in the 2024 quarter. The company said sales exceeded its own expectations and reaffirmed its full-year 2025 guidance of 5%-7% revenue growth, but lower profit and a gross margin of 40.5% versus 45.4% a year earlier mean shareholders saw weaker earnings even as the outlook held.
Net sales of $340 million vs. $374 million a year earlier, which included $40 million in extra channel inventory
Gross margin of 40.5% vs. 45.4%, which the company attributed to railing conversion costs, lower production and Enhance decking refinements
Second-quarter revenue guidance of $370 million to $380 million; full-year 2025 guidance reaffirmed at 5%-7% revenue growth
Adjusted diluted EPS of $0.60 and adjusted EBITDA of $101 million for the quarter
Griffon reported fiscal second-quarter 2025 revenue of $611.7 million, down 9% from $672.9 million a year earlier, and net income of $56.8 million, or $1.21 per diluted share, versus $64.1 million, or $1.28, in the prior-year quarter. Adjusted EBITDA fell 12% to $118.5 million, and management said it is maintaining its full-year financial guidance despite uncertain economic conditions and tariff policy.
Revenue of $611.7 million fell 9% from $672.9 million; Home and Building Products fell 6% and Consumer and Professional Products fell 13%.
Net income of $56.8 million, or $1.21 per diluted share, compared with $64.1 million, or $1.28, a year earlier; adjusted EPS was $1.23 versus $1.35.
Adjusted EBITDA of $118.5 million decreased 12% from $134.2 million.
Management maintained full-year financial guidance; $359.8 million remained under the Board's share repurchase authorization as of March 31, 2025.
Installed Building Products reported first-quarter 2025 results with net revenue down 1.2% to $684.8 million, net income down to $45.4 million, and diluted EPS of $1.64 versus $1.97 a year earlier. Management cited housing affordability challenges and a slower-than-expected spring selling season, and the board declared a $0.37 quarterly dividend, so shareholders see lower earnings alongside continued capital returns.
Net revenue $684.8 million, down 1.2% from $692.9 million; same branch net revenue down 4.2%
Net income $45.4 million, or $1.64 per diluted share, versus $55.9 million, or $1.97, a year earlier
Adjusted EBITDA $102.4 million, down 12.7% from $117.3 million
Quarterly dividend of $0.37 per share payable June 30, 2025 to holders of record June 13, 2025; repurchased 200,000 shares for $34.3 million in the quarter
Sphere Entertainment reported first-quarter 2025 revenue of $280.6 million, down $40.8 million from the prior-year quarter, and an operating loss of $78.6 million, up $38.2 million. Net loss was $82.0 million, or $2.27 per share, versus $1.33 per share a year earlier. The company also disclosed a April 24, 2025 Transaction Support Agreement with MSG Networks' lenders to restructure about $804 million of term loan debt, which matters to shareholders because it is expected to close by June 27, 2025, subject to definitive documentation.
Revenue $280.6 million, down $40.8 million (13%); MSG Networks revenue fell $27.9 million, mainly from the Altice non-carriage period
Operating loss $78.6 million vs. $40.4 million a year earlier; adjusted operating income $36.0 million, down $25.6 million
Net loss $82.0 million, or $2.27 per share, vs. $1.33 per share in the prior-year quarter
Proposed MSG Networks deal would replace an $804 million term loan with a $210 million facility, with an $80 million minimum cash payment
Match Group reported first-quarter 2025 revenue of $831 million, down 3% year over year, and operating income of $173 million, down 7%. The company also announced a planned 13% workforce reduction and a reorganization under CEO Spencer Rascoff, and guided second-quarter revenue to $850 million to $860 million, down 2% to flat year over year.
Q1 2025 revenue $831 million, down 3% Y/Y; Payers fell 5% to 14.2 million, while RPP rose 1% to $19.07
Q1 adjusted operating income $275 million, down 2% Y/Y; diluted EPS $0.44, flat with the prior year
Q2 2025 guidance: revenue $850 million to $860 million and adjusted operating income $295 million to $300 million
Board declared a $0.19 per share dividend, payable July 18, 2025 to holders of record as of July 3, 2025
International Seaways reported first quarter 2025 net income of $50 million, or $1.00 per diluted share, down from $144 million, or $2.92, a year earlier, as shipping revenues fell to $183 million from $274 million. Adjusted net income was $40 million, or $0.80 per diluted share, excluding a gain on vessel sales. The board also declared a combined dividend of $0.60 per share, payable June 26, 2025.
Shipping revenues were $183 million versus $274 million a year earlier; TCE revenues were $178 million versus $271 million.
Adjusted EBITDA was $91 million versus $191 million in the first quarter of 2024.
Declared a $0.60 per share dividend ($0.12 regular and $0.48 supplemental), payable June 26, 2025 to holders of record on June 12, 2025.
Total liquidity was $673 million as of March 31, 2025, including $133 million in cash.
Warner Music Group reported fiscal second-quarter results for the period ended March 31, 2025. Revenue declined 1% to $1,484 million and net income fell 63% to $36 million, while operating income rose 41% to $168 million. Adjusted OIBDA decreased 3% to $303 million, and the filing gives no guidance for future periods.
Revenue was $1,484 million versus $1,494 million a year earlier, down 1% (up 1% in constant currency).
Net income was $36 million, or $0.07 per Class A and Class B share, versus $96 million, or $0.18 per share, a year earlier.
Operating income rose 41% to $168 million, helped by a $82 million decrease in restructuring and impairment charges.
Adjusted OIBDA fell 3% to $303 million, and its margin declined to 20.4% from 20.9%.
Talen Energy reported a first-quarter 2025 GAAP net loss attributable to stockholders of $135 million, compared with net income of $294 million a year earlier, as the absence of a prior-year asset sale gain and lower realized hedge gains weighed on results. The company affirmed and narrowed its 2025 guidance, with 2025 Adjusted EBITDA now projected at $975 million to $1.125 billion, which gives shareholders a clearer range but no increase in expectations.
GAAP net loss attributable to stockholders was $135 million, or $2.94 per diluted share, versus net income of $294 million, or $4.84 per diluted share, in Q1 2024.
Adjusted EBITDA was $200 million, down from $289 million, and Adjusted Free Cash Flow was $87 million, down from $194 million, mainly due to lower realized hedge gains.
2025 guidance was affirmed and narrowed: Adjusted EBITDA of $975 million to $1.125 billion and Adjusted Free Cash Flow of $450 million to $540 million; 2026 outlook unchanged.
On May 1, 2025, FERC approved the RMR arrangement to run Brandon Shores and H.A. Wagner through May 31, 2029, with expected payments of $145 million annually and $35 million, respectively, starting June 1, 2025.
Nexstar Media Group reported first quarter 2025 net revenue of $1.23 billion, down 3.9% from a year earlier, mainly due to lower political advertising. Net income fell 41.9% to $97 million, and diluted earnings per share were $3.37 versus $5.16 a year earlier. The company also raised its quarterly dividend 10% to $1.86 per share and returned $132 million to shareholders in the quarter.
Net revenue was $1.23 billion, down $50 million or 3.9%; advertising revenue fell 10.2% to $460 million while distribution revenue rose 0.1% to a record $762 million for a first quarter.
Net income was $97 million versus $167 million a year earlier; Adjusted EBITDA was $381 million, down 15.7%, with margin at 30.9% versus 35.2%.
Net cash provided by operating activities rose 22.1% to $337 million, while Adjusted Free Cash Flow fell 10.5% to $348 million.
The quarterly dividend was raised 10% to $1.86 per share, the twelfth consecutive annual increase; the company repurchased 441,164 shares for $75 million in the quarter.
Affiliated Managers Group reported first-quarter 2025 diluted EPS of $2.20, down from $4.14, and revenue of $496.6 million, down from $499.9 million. Intangible amortization and impairments rose to $83.3 million from $7.3 million, and the company's non-GAAP Economic EPS was $5.20 versus $5.37. The filing also declares a $0.01 per share dividend payable June 2, 2025.
Diluted EPS $2.20 vs. $4.14 a year earlier; net income (controlling interest) $72.4 million vs. $149.8 million
Revenue $496.6 million vs. $499.9 million; Adjusted EBITDA $228.2 million vs. $259.8 million
Intangible amortization and impairments $83.3 million vs. $7.3 million; Economic EPS $5.20 vs. $5.37
Repurchased approximately $173 million of common stock; $0.01 dividend payable June 2, 2025 to holders of record May 19, 2025
Cleveland-Cliffs reported a first-quarter 2025 GAAP net loss of $483 million, or $1.00 per diluted share, compared with a net loss of $53 million a year earlier. The company is idling six facilities, which it expects to save over $300 million annually, and it updated full-year 2025 cost and capital spending expectations.
GAAP net loss of $483 million, or $1.00 per diluted share, vs. a net loss of $53 million in Q1 2024
Adjusted EBITDA loss of $174 million, vs. Adjusted EBITDA of $414 million in Q1 2024
Revenue of $4.6 billion, up from $4.3 billion in Q4 2024 but down from $5.2 billion in Q1 2024
Full-year 2025 steel unit cost reduction now about $50 per net ton (previously about $40); capital expenditures now about $625 million (previously $700 million)
Murphy Oil reported first quarter 2025 net income attributable to Murphy of $73 million, or $0.50 per diluted share, down from $90 million, or $0.59, a year earlier. Production revenue fell to $672.7 million from $794.6 million, and the company said full-year production is expected toward the lower end of its guidance range after winter storm delays, though it reaffirmed its 2025 capital expenditure and production ranges.
Net income attributable to Murphy was $73 million, or $0.50 per diluted share, versus $90 million, or $0.59, in first quarter 2024; adjusted net income was $81 million, or $0.56 per share, versus $130.8 million, or $0.85
Revenue from production was $672.7 million, compared with $794.6 million a year earlier
Full-year 2025 production guidance of 174.5 to 182.5 MBOEPD and capital expenditure guidance of $1,135 million to $1,285 million were maintained; production is now expected toward the lower end of the range
Murphy repurchased $100 million of stock, or 3.6 million shares, in the first quarter
Murphy USA reported first-quarter 2025 net income of $53.2 million, or $2.63 per diluted share, down from $66.0 million, or $3.12 per diluted share, a year earlier. Total operating revenues fell to $4,525.4 million from $4,843.7 million, and adjusted EBITDA declined to $157.4 million from $164.3 million. Management said results fell slightly short of internal expectations, citing lower supply margins, while the company repurchased $151.2 million of stock during the quarter.
Net income was $53.2 million, or $2.63 per diluted share, versus $66.0 million, or $3.12 per diluted share, in Q1 2024
Total operating revenues were $4,525.4 million versus $4,843.7 million; adjusted EBITDA was $157.4 million versus $164.3 million
Retail fuel margin rose to 23.7 cpg from 21.7 cpg, while same store sales retail fuel volume declined 4.2%
The company repurchased about 321.1 thousand shares for $151.2 million and announced a quarterly dividend of $0.50 per share, payable June 2, 2025
Amphastar Pharmaceuticals reported first-quarter 2025 results for the three months ended March 31, 2025, with net revenues of $170.5 million, down 1% from $171.8 million a year earlier. GAAP net income fell to $25.3 million, or $0.51 per diluted share, from $43.2 million, or $0.81 per share, in the prior-year quarter. Lower glucagon and epinephrine sales and higher operating expenses offset growth in BAQSIMI, so shareholders saw lower revenue and profit compared with the prior-year quarter.
Net revenues were $170.5 million, down 1% from $171.8 million; BAQSIMI product revenue rose 177% to $38.4 million.
GAAP net income was $25.3 million, or $0.51 per diluted share, versus $43.2 million, or $0.81, a year earlier.
Adjusted non-GAAP net income was $36.9 million, or $0.74 per diluted share, versus $55.3 million, or $1.04, in the prior-year quarter.
Gross margin was 50.0% versus 52.4% a year earlier; research and development expenses rose to $20.1 million from $17.0 million.
F&G Annuities & Life reported a first-quarter 2025 net loss attributable to common shareholders of $25 million, or $0.20 per diluted share, compared with net earnings of $111 million, or $0.88 per share, a year earlier. Adjusted net earnings fell to $91 million, or $0.72 per share, from $108 million, or $0.86 per share, which shareholders may view as weaker core earnings even as assets under management reached a record $67.4 billion before flow reinsurance.
Net loss of $25 million, or $0.20 per diluted share, versus net earnings of $111 million, or $0.88 per share, in Q1 2024; the loss included $105 million of unfavorable mark-to-market effects.
Adjusted net earnings of $91 million, or $0.72 per share, versus $108 million, or $0.86 per share; the quarter included $16 million of income from a reinsurance true-up adjustment.
Gross sales of $2.9 billion, down 17% from Q1 2024, and net sales of $2.2 billion, compared with $2.3 billion.
In March 2025, F&G completed a public offering of 8 million common shares with net proceeds of nearly $269 million; book value per common share excluding AOCI was $43.31.
Global Net Lease reported a first-quarter 2025 net loss attributable to common stockholders of $200.3 million, compared with $34.7 million a year earlier, as revenue fell to $132.4 million from $147.9 million, mainly due to asset dispositions. The company said the loss was primarily caused by the timing and purchase price allocation of the partial completion of its multi-tenant portfolio sale, which produced $1.1 billion of gross proceeds. Shareholders get a reaffirmed 2025 AFFO per share guidance range of $0.90 to $0.96, and the company had repurchased $59.4 million of stock as of May 2, 2025.
Revenue from tenants was $132.4 million, down from $147.9 million in the first quarter of 2024, primarily from asset dispositions.
Net loss attributable to common stockholders was $200.3 million, or $0.87 per diluted share, versus $34.7 million, or $0.15 per share, a year earlier.
Core FFO was $35.0 million, or $0.15 per diluted share, versus $56.6 million, or $0.25; AFFO was $66.2 million, or $0.29 per share, versus $0.33.
The company reaffirmed 2025 AFFO per share guidance of $0.90 to $0.96 and Net Debt to Adjusted EBITDA of 6.5x to 7.1x.
Veeco reported first-quarter 2025 revenue of $167.3 million, down from $174.5 million a year earlier, and GAAP net income of $11.9 million, or $0.20 per diluted share, down from $21.9 million, or $0.37. For the second quarter, Veeco guided to revenue of $135 million to $165 million and GAAP diluted EPS of a $(0.05) loss to $0.17.
Q1 2025 revenue $167.3 million vs $174.5 million in Q1 2024
Q1 2025 non-GAAP net income $22.2 million, or $0.37 per diluted share, vs $0.45 a year earlier
Q2 2025 guidance: revenue $135 million to $165 million; non-GAAP diluted EPS $0.12 to $0.32
Cash and short-term investments totaled $353 million at March 31, 2025, per the presentation
Vir Biotechnology reported first quarter 2025 results, with total revenue of $3.0 million, down from $56.4 million a year earlier, mainly because $51.7 million of deferred revenue was recognized in Q1 2024. The net loss grew to $121.0 million, or $(0.88) per share, from $65.3 million, or $(0.48) per share, as research and development spending rose to $118.6 million. The company said its roughly $1.0 billion in cash and investments funds operations into mid-2027.
Total revenue was $3.0 million for Q1 2025, versus $56.4 million for Q1 2024.
Net loss was $121.0 million, or $(0.88) per share, versus $65.3 million, or $(0.48) per share, a year earlier.
R&D expense rose to $118.6 million, including a $30.0 million expense to Alnylam and the start of the ECLIPSE Phase 3 program.
Cash, cash equivalents and investments were approximately $1.02 billion at March 31, 2025, down about $75.6 million in the quarter.
American Financial Group reported first-quarter 2025 net earnings of $154 million, or $1.84 per share, down from $242 million, or $2.89 per share, a year earlier. The company attributed the decline mainly to catastrophe losses from the California wildfires and lower underwriting profit, and it returned about $292 million to shareholders during the quarter.
Core net operating earnings were $152 million ($1.81 per share) versus $231 million ($2.76 per share) in Q1 2024.
Specialty P&C combined ratio rose to 94.0% from 90.1%, including 4.5 points from catastrophe losses, mainly the California wildfires.
Capital returned in Q1 totaled about $292 million, including $167 million in special dividends and $58 million in share repurchases.
The Charleston Harbor Resort & Marina sale is expected to close in Q3 2025, with an after-tax core operating gain of about $100 million ($1.20 per share) expected.
Vishay Intertechnology reported a fiscal first quarter 2025 net loss of $4.1 million, or $0.03 per share, compared with net earnings of $30.9 million, or $0.22 per share, a year earlier. Revenue was $715.2 million, down from $746.3 million in the same quarter of 2024, and gross margin fell to 19.0% from 22.8%. The company guided second quarter 2025 revenue to $760 million, plus or minus $20 million, which it said includes the anticipated effect of tariffs.
Q1 2025 revenue of $715.2 million, versus $746.3 million for the quarter ended March 30, 2024
Net loss of $4.1 million, or $0.03 per diluted share, versus earnings of $0.22 per diluted share a year earlier
Gross margin of 19.0%, including a negative impact of approximately 200 basis points from the addition of Newport
Second quarter 2025 guidance: revenue of $760 million, plus or minus $20 million, and gross margin of 19.0%, plus or minus 50 basis points
MarketAxess reported first-quarter 2025 revenue of $208.6 million, down 1% from a year earlier, and GAAP diluted EPS of $0.40, down from $1.92. The drop reflects a $54.9 million reserve for uncertain tax positions tied to prior periods, and the company raised its full-year 2025 GAAP effective tax rate guidance to 41.0% to 42.0%, which lowers expected earnings for shareholders. The company also declared a $0.76 quarterly dividend.
Total revenues of $208.6 million, down 1% from $210.3 million in 1Q24; total credit commission revenue fell 3%.
GAAP diluted EPS of $0.40 on net income of $15.1 million; EPS was $1.87 excluding the $54.9 million tax reserve, per the company's non-GAAP measure.
Full-year 2025 GAAP effective tax rate guidance raised to 41.0% to 42.0% from 23.5% to 24.5%.
Quarterly dividend of $0.76 per share, payable June 4, 2025 to holders of record on May 21, 2025.
The GEO Group reported first quarter 2025 revenue of $604.6 million, down slightly from $605.7 million a year earlier, and net income attributable to GEO of $0.14 per diluted share, unchanged from a year earlier. Adjusted EBITDA fell to $99.8 million from $117.6 million, and the company updated its full-year 2025 guidance and gave second-quarter guidance, citing higher overhead and capital spending in the first half. The filing does not state the prior guidance figures, so the direction of the update cannot be compared.
Q1 2025 revenue $604.6 million vs. $605.7 million in Q1 2024; net income attributable to GEO $19.6 million, or $0.14 per diluted share, vs. $22.7 million, or $0.14, a year earlier
Q1 2025 Adjusted EBITDA $99.8 million vs. $117.6 million in Q1 2024
Full-year 2025 guidance: $0.77 to $0.89 per diluted share, revenue of approximately $2.53 billion, Adjusted EBITDA $465 million to $490 million
Q2 2025 guidance: $0.15 to $0.17 per diluted share, revenue $615 million to $625 million, Adjusted EBITDA $110 million to $114 million; net debt at March 31, 2025 was approximately $1.68 billion
Par Pacific reported a first-quarter 2025 net loss of $30.4 million, or $0.57 per diluted share, compared with a net loss of $3.8 million, or $0.06 per share, a year earlier. Adjusted EBITDA fell to $10.1 million from $94.7 million, and revenues declined to $1.745 billion from $1.981 billion, so headline results weakened sharply for shareholders even as the company repurchased $51 million of its stock.
Net loss of $30.4 million, or $0.57 per diluted share, versus a net loss of $3.8 million, or $0.06 per share, in Q1 2024
Adjusted EBITDA of $10.1 million, compared with $94.7 million in Q1 2024
Revenues of $1.745 billion, compared with $1.981 billion in Q1 2024
Repurchased $51 million of common stock, or 3.6 million shares, in Q1 2025; the Wyoming refinery had an operational incident on February 12, 2025 and returned to full operations in late April
Berkshire Hathaway reported first-quarter 2025 net earnings of $4.6 billion, down from $12.7 billion a year earlier, as investment losses of $5.0 billion replaced prior-year investment gains of $1.5 billion. Operating earnings also declined, to $9.6 billion from $11.2 billion. At its May 3, 2025 annual meeting, shareholders voted on director elections and seven shareholder proposals, and each proposal drew far more Against votes than For votes.
Net earnings per average equivalent Class A share were $3,200 in Q1 2025 versus $8,825 in Q1 2024.
Operating earnings were $9.6 billion versus $11.2 billion; insurance-underwriting earnings were $1.3 billion versus $2.6 billion.
BNSF earnings rose to $1.2 billion from $1.1 billion, and Berkshire Hathaway Energy earnings rose to $1.1 billion from $717 million.
The company urged investors to read its 10-Q, which it said has been posted on its website.
Coty reported fiscal third-quarter results for the period ended March 31, 2025, with reported net revenue of $1,299.1 million, down 6% from a year earlier, and a reported net loss of $409.0 million, compared with net income of $0.5 million in the prior year. The loss includes a $212.8 million asset impairment charge, mainly in Consumer Beauty's color cosmetics business. The company now expects fiscal 2025 EPS of $0.49-0.50, near the low end of its prior range, which matters to shareholders because it signals weaker earnings and a sales decline in the fourth quarter.
Q3 reported net revenue of $1,299.1 million fell 6%; on a like-for-like basis, sales fell 3%.
Q3 reported net loss of $409.0 million, or $(0.47) per diluted share, versus net income of $0.5 million a year earlier; includes a $212.8 million asset impairment charge.
Fiscal 2025 EPS expected at $0.49-0.50, near the low end of prior guidance; free cash flow expected at approximately $300 million.
Fourth-quarter like-for-like sales expected to decline by a high single-digit percentage.
Chemours reported a first-quarter 2025 net loss of $4 million, or $0.03 per diluted share, compared with net income of $54 million a year earlier. Adjusted EBITDA fell 13% to $166 million, mainly on lower pricing, and the company cut its quarterly dividend 65% to $0.0875 per share. For shareholders, the lower dividend reduces cash returned to them, and the company's 2025 adjusted EBITDA outlook of $825 million to $950 million is the main guide to near-term earnings.
Net sales were $1.4 billion ($1,368 million), flat year over year; net loss was $4 million versus net income of $54 million in Q1 2024.
Adjusted net income was $19 million, or $0.13 per diluted share, versus $47 million, or $0.31, a year earlier.
Restructuring charges of $27 million were tied to the exit of the SPS Capstone business, which the company expects to end by the end of the second quarter of 2025.
Quarterly dividend cut 65% to $0.0875 per share for the second quarter, payable June 16, 2025; full-year 2025 adjusted EBITDA outlook is $825 million to $950 million.
Innovex reported first-quarter 2025 revenue of $240 million, down 4% from the prior quarter, with net income of $15 million and Adjusted EBITDA of $46 million. For the second quarter, the company guided to revenue of $225 million to $235 million and Adjusted EBITDA of $40 million to $45 million, both below first-quarter levels, citing softness in Mexico and slight activity declines in the North American land market.
Q1 2025 revenue of $240 million, down 4% quarter over quarter; net income of $15 million; Adjusted EBITDA of $46 million
Q2 2025 guidance: total revenue of $225 million to $235 million and Adjusted EBITDA of $40 million to $45 million
Agreed to sell the legacy Dril-Quip Eldridge facility for $95 million; the company also has a $100 million share repurchase program
As of May 5, 2025, repurchased 395,234 shares at an average price of $14.94
Protagonist Therapeutics reported a first-quarter 2025 net loss of $11.7 million, or $0.19 per share, compared with net income of $207.3 million, or $3.41 per basic share, in the first quarter of 2024. License and collaboration revenue fell to $28.3 million from $255.0 million, as the prior-year period included most of the Takeda upfront payment. Cash, cash equivalents and marketable securities rose to $697.9 million, which the company expects to fund operations through at least the end of 2028.
License and collaboration revenue was $28.3 million, versus $255.0 million in Q1 2024; $22.8 million reflects a $25 million milestone earned in Q1 2025 but payable after the VERIFY clinical study report.
Net loss was $11.7 million, or $0.19 per basic and diluted share, compared with net income of $207.3 million in Q1 2024.
Cash, cash equivalents and marketable securities were $697.9 million at March 31, 2025, up from $559.2 million at December 31, 2024.
Rusfertide Phase 3 VERIFY data is scheduled for an oral presentation at the ASCO plenary session on June 1, 2025.
The Andersons reported first quarter 2025 results, with net income attributable to the company falling to $0.3 million, or $0.01 per diluted share, from $5.6 million, or $0.16, a year earlier. Sales and merchandising revenues declined to $2.66 billion from $2.72 billion, and adjusted EBITDA rose to $57 million from $51 million, driven by Renewables. For shareholders, the headline profit measures weakened, and the company used $350 million of cash in operations during the quarter.
Net income attributable to The Andersons was $0.3 million, or $0.01 per diluted share, versus $5.6 million, or $0.16, in Q1 2024.
Adjusted diluted EPS was $0.12, compared with $0.16 a year earlier.
Agribusiness recorded a pretax loss of $10 million; Renewables reported pretax income of $25 million.
Cash used in operating activities was $350 million, compared with $240 million in the first quarter of 2024.
Bristow Group reported first quarter 2025 revenue of $350.5 million, down from $353.5 million in the fourth quarter of 2024, and net income attributable to the company of $27.4 million, or $0.92 per diluted share, versus $31.8 million, or $1.07 per diluted share, in the prior quarter. The company affirmed its 2025 Adjusted EBITDA outlook of $230 million to $260 million and its 2026 outlook of $275 million to $335 million, so guidance was not changed.
Q1 2025 total revenues were $350.5 million, compared with $353.5 million in Q4 2024.
Net income attributable to Bristow Group was $27.4 million, or $0.92 per diluted share, compared with $31.8 million, or $1.07 per diluted share, in Q4 2024.
Adjusted EBITDA was $57.7 million, consistent with $57.8 million in Q4 2024.
Net cash used in operating activities was $0.6 million; working capital used $56.4 million of cash in the quarter. As of March 31, 2025, total liquidity was $254.3 million.
Fortune Brands reported first quarter 2025 net sales of $1.0 billion, down 7% from a year earlier, and GAAP diluted EPS of $0.42, down 45%. EPS before charges and gains fell 20% to $0.66, and the company is not providing detailed full-year 2025 guidance, instead outlining an EPS framework for different volume scenarios on its earnings call.
Q1 2025 net sales were $1,033.1 million, down 7%; organic sales excluding China and FX fell 5%
GAAP diluted EPS was $0.42 versus $0.76; EPS before charges/gains was $0.66 versus $0.83, down 20%
Operating income was $97.0 million, down 38%; restructuring charges totaled $24.8 million
Company repurchased $175 million of shares in the quarter and had net debt of $2.6 billion at March 29, 2025
Vestis reported fiscal second-quarter 2025 revenue of $665 million, down $40.1 million from a year earlier, and a net loss of $27.8 million, compared with net income of $6.0 million in the prior-year quarter. The company also amended its credit agreement to raise its net leverage covenant to 5.25x through fiscal 2026, and it eliminated its dividend, with dividends and share repurchases restricted under the amendment.
Revenue of $665 million, down $40.1 million year over year; net loss of $27.8 million, or $(0.21) per diluted share, versus net income of $6.0 million, or $0.05 per diluted share, a year earlier
Adjusted EBITDA of $47.6 million, including a one-time $15.0 million bad debt expense; $62.6 million excluding it, or 9.4% of revenue, versus $87.2 million in the prior-year quarter
Net leverage covenant raised from 4.50x to 5.25x through the second quarter of fiscal 2026; net leverage was 4.16x at quarter end
Third-quarter fiscal 2025 revenue guidance of $674 million to $682 million and Adjusted EBITDA of at least $63 million; Jim Barber named CEO effective June 2, 2025
Arcus Biosciences reported first-quarter 2025 revenue of $28 million, down from $145 million a year earlier, and a net loss of $112 million, compared with $4 million in the same period of 2024. The company said it expects GAAP revenue of $75 million to $90 million for full-year 2025, and it ended the quarter with $1.0 billion in cash, cash equivalents and marketable securities.
Revenue was $28 million versus $145 million a year earlier; license and development services revenue was $20 million versus $135 million.
Net loss was $112 million, or $1.14 per share, versus a net loss of $4 million, or $0.05 per share, in the first quarter of 2024.
R&D expenses rose to $122 million from $109 million, driven by early-stage and preclinical program activity.
Full-year 2025 GAAP revenue is expected to be between $75 million and $90 million.
Jazz reported first-quarter 2025 total revenues of $897.8 million, roughly flat with $902.0 million a year earlier, and a GAAP net loss of $92.5 million, or $1.52 per share, versus a $14.6 million loss in the prior-year quarter. The loss reflects a $172.0 million expense for Xyrem antitrust litigation settlements, and the company cut its 2025 profit guidance while affirming its revenue range of $4.15 billion to $4.40 billion.
Q1 2025 non-GAAP adjusted net income was $105.2 million, or $1.68 per diluted share, down from $178.4 million, or $2.63, in Q1 2024.
2025 GAAP net loss guidance is now $(615) million to $(450) million, versus prior net income guidance of $560 million to $720 million.
2025 non-GAAP adjusted net income guidance is now $250 million to $350 million, versus prior guidance of $1.4 billion to $1.5 billion.
The guidance change reflects the April 2025 Chimerix acquisition, which the company completed for approximately $935 million in cash.
Mercury General reported a first-quarter 2025 net loss of $108.3 million, or $1.96 per diluted share, compared with net income of $73.5 million, or $1.33 per share, a year earlier. The company cited $447 million in catastrophe losses, mostly from the January 2025 Southern California wildfires, which pushed its combined ratio to 119.2% from 100.9%.
Net loss of $108.3 million ($1.96 per diluted share) versus net income of $73.5 million ($1.33) in Q1 2024
Catastrophe losses net of reinsurance were $447 million, versus $72 million a year earlier
Net premiums earned rose 10.0% to $1.28 billion, while the combined ratio rose to 119.2%
Board declared a quarterly dividend of $0.3175 per share, payable June 26, 2025
Wynn Resorts reported first-quarter 2025 operating revenues of $1.70 billion, down $162.5 million from a year earlier, and net income attributable to the company of $72.7 million, down from $144.2 million. Diluted earnings per share were $0.69, compared with $1.30 in the first quarter of 2024, and the company's board declared a $0.25 per share cash dividend.
Operating revenues were $1.70 billion, down $162.5 million from $1.86 billion in Q1 2024.
Diluted net income per share was $0.69, versus $1.30 a year earlier; adjusted net income per diluted share was $1.07, versus $1.59.
Adjusted Property EBITDAR was $532.9 million, down from $646.5 million, with Wynn Palace and Wynn Macau among the largest declines.
Cash dividend of $0.25 per share is payable May 30, 2025 to holders of record as of May 16, 2025; the company repurchased $200.0 million of stock in the quarter.
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