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).
AptarGroup reported first-quarter 2025 net sales of $887.3 million, down 3% from the prior year, and diluted EPS of $1.17 versus $1.23, while core sales were flat. The company guided second-quarter 2025 adjusted EPS to $1.56 to $1.64, compared with $1.37 in the prior-year quarter, which points to higher expected earnings for shareholders.
Reported net sales $887.3 million, down from $915.4 million; core sales flat
Diluted EPS $1.17 vs. $1.23; adjusted EPS $1.20 vs. $1.22, with a 26% effective tax rate vs. 20%
Q2 2025 adjusted EPS guidance of $1.56 to $1.64 vs. $1.37 in the prior-year quarter
Repurchased 548 thousand shares for $80 million; quarterly dividend of $0.45 per share payable May 22, 2025
Centerspace reported first-quarter 2025 results on May 1, 2025, with revenue up 4.0% to $67.1 million and a narrower net loss of $0.22 per diluted share versus $0.37 a year earlier. Core FFO per diluted share fell 1.6% to $1.21, which the company attributed to higher same-store property taxes, and it reaffirmed its 2025 Core FFO guidance of $4.86 to $5.10 per share.
Revenue rose $2.6 million, or 4.0%, to $67.1 million from $64.5 million in Q1 2024
Net loss was $0.22 per diluted share, compared with $0.37 in Q1 2024
Core FFO per diluted share was $1.21 versus $1.23, down 1.6%, due to a $0.06 per share increase in same-store property taxes
2025 guidance was reaffirmed, including Core FFO of $4.86 to $5.10 per diluted share and same-store NOI growth of 1.25% to 3.25%
Casella Waste Systems reported first-quarter 2025 results on May 1, 2025. Revenue rose 22.3% to $417.1 million and Adjusted EBITDA rose 21.7% to $86.4 million, but the GAAP net loss widened to $4.8 million from $4.1 million. The company reaffirmed its full-year 2025 guidance, which includes acquisitions announced to date.
Revenue of $417.1 million, up $76.1 million from $341.0 million a year earlier; acquisitions added $57.1 million of the increase.
Net loss of $4.8 million, or $0.08 per diluted share, versus $4.1 million, or $0.07 per share, in the first quarter of 2024.
Adjusted EBITDA of $86.4 million, up 21.7%; Adjusted Diluted Earnings Per Common Share of $0.19 versus $0.15.
Fiscal 2025 guidance reaffirmed: revenue of $1.775 billion to $1.805 billion and net income of $10 million to $25 million.
Camden Property Trust reported first-quarter 2025 results on May 1, 2025. Core FFO per diluted share rose to $1.72 from $1.70, while EPS fell to $0.36 from $0.77, a decline the filing ties in part to a $43.8 million gain on a property sale in the prior-year quarter. The company raised the midpoint of its 2025 Core FFO guidance to $6.78 per share from $6.75.
Q1 2025 Core FFO was $1.72 per diluted share versus $1.70 a year earlier; FFO was $1.70 versus $1.67.
Q1 2025 EPS was $0.36 versus $0.77; Q1 2024 included a $43.8 million gain on sale of an operating property.
2025 Core FFO guidance midpoint raised to $6.78 from $6.75; EPS guidance midpoint raised to $1.16 from $1.15.
Same property revenues rose 0.8% year over year and occupancy was 95.4% versus 95.0%.
Ingersoll Rand reported first quarter 2025 revenue of $1,716.8 million, up 2.8%, and orders of $1.88 billion, up 10%. Diluted GAAP EPS fell to $0.46 from $0.50, and adjusted EPS was $0.72 versus $0.78, while the company lowered its full-year 2025 adjusted EBITDA range to $2,070 million to $2,130 million and its adjusted EPS range to $3.28 to $3.40, and raised its share repurchase authorization by $1 billion.
Q1 2025 revenue was $1,716.8 million, up 2.8%; adjusted EBITDA was $459.7 million, flat, with a margin of 26.8%, down 70 basis points.
Net income attributable to Ingersoll Rand was $186.5 million, or $0.46 per diluted share, versus $0.50 a year earlier.
Full-year 2025 adjusted EBITDA guidance was cut to $2,070 million to $2,130 million from $2,130 million to $2,190 million; adjusted EPS guidance was cut to $3.28 to $3.40 from $3.38 to $3.50.
The board authorized a $1 billion increase to the share repurchase program, and the company is targeting up to $750 million of repurchases over the remainder of 2025.
Employers Holdings reported first-quarter 2025 net income of $12.8 million, down 55% from a year earlier, as net realized and unrealized investment losses of $12.8 million weighed on results. Adjusted net income rose 24% to $21.3 million, and the board raised the quarterly dividend 7% to $0.32 per share and authorized a new buyback of up to $125.0 million through December 31, 2026.
GAAP net income was $12.8 million, or $0.52 per diluted share, versus $28.3 million, or $1.11, in Q1 2024; adjusted EPS rose to $0.87 from $0.67.
Net premiums earned were $183.0 million, down 1%; the GAAP combined ratio was 102.0% versus 101.6%.
Quarterly dividend increased to $0.32 from $0.30, payable May 28, 2025 to holders of record on May 14, 2025.
New repurchase program authorizes up to $125.0 million of common stock purchases from May 6, 2025 through December 31, 2026, replacing a program whose authorization was exhausted.
Reinsurance Group of America (RGA) reported first-quarter 2025 net income available to shareholders of $286 million, or $4.27 per diluted share, up from $210 million, or $3.16, a year earlier. Adjusted operating income fell to $378 million, or $5.66 per diluted share, from $401 million, or $6.02, and net premiums fell 25% to $4.0 billion, mainly due to a much smaller pension risk transfer contribution than in the prior-year quarter.
Net income available to RGA shareholders was $286 million ($4.27 per diluted share) versus $210 million ($3.16) a year earlier.
Adjusted operating income was $378 million ($5.66 per diluted share) versus $401 million ($6.02).
Net premiums were $4,019 million versus $5,376 million, a 25% decrease; the company said they rose 13% after adjusting for the pension risk transfer and currency effects.
The board declared a regular quarterly dividend of $0.89, payable May 27, 2025, to shareholders of record as of May 13, 2025.
VIAVI reported preliminary third-quarter fiscal 2025 results for the period ended March 29, 2025, with net revenue up 15.8% year over year and GAAP net income of $19.5 million, compared with a net loss a year earlier. The company also expects fourth-quarter net revenue of $278 million to $290 million and non-GAAP EPS of $0.10 to $0.13, below the $0.15 non-GAAP EPS it reported for the third quarter.
Net revenue was $284.8 million, up from $246.0 million a year earlier; GAAP diluted EPS was $0.09 versus a loss of $0.11 per share.
Non-GAAP diluted EPS was $0.15 for the quarter, up from $0.06 a year earlier.
Fourth-quarter fiscal 2025 outlook (quarter ending June 28, 2025): net revenue of $278 million to $290 million and non-GAAP EPS of $0.10 to $0.13.
The company reported $7.8 million of operating cash flow for the quarter and $400.2 million in total cash, short-term investments and restricted cash as of March 29, 2025. The results are preliminary because the Form 10-Q has not yet been f
Dolby Laboratories reported fiscal second-quarter 2025 revenue of $370 million, up from $365 million a year earlier, but GAAP diluted earnings per share fell to $0.94 from $1.01. The company also declared a $0.33 per share quarterly dividend and gave third-quarter and full-year fiscal 2025 estimates, which show a GAAP diluted EPS range of $0.26 to $0.41 for the quarter and $2.31 to $2.46 for the year.
Total revenue was $370 million versus $365 million in the prior-year quarter.
GAAP diluted EPS was $0.94 versus $1.01; non-GAAP diluted EPS was $1.34 versus $1.27.
Cash dividend of $0.33 per share, payable May 21, 2025, to holders of record on May 13, 2025.
Fiscal 2025 full-year GAAP diluted EPS is estimated at $2.31 to $2.46; third-quarter GAAP diluted EPS at $0.26 to $0.41.
Allison Transmission reported first-quarter 2025 net sales of $766 million, down 3% from $789 million a year earlier, while net income rose 14% to $192 million and diluted EPS rose 17% to $2.23. The company reaffirmed its full-year 2025 guidance, including net sales of $3.2 billion to $3.3 billion and net income of $735 million to $785 million, and said it repurchased over $150 million of its stock during the quarter.
Net sales were $766 million, down $23 million from $789 million; Global Off-Highway fell $28 million, while North America On-Highway rose $15 million.
Net income was $192 million, up $23 million from $169 million, and diluted EPS was $2.23 versus $1.90, with the gain driven mainly by higher gross profit and unrealized mark-to-market adjustments on marketable securities.
Full-year 2025 guidance was reaffirmed: net sales of $3.2 billion to $3.3 billion and adjusted EBITDA of $1.17 billion to $1.23 billion.
The stock repurchase authorization was increased by $1 billion, leaving nearly $1.4 billion available at the end of the first quarter.
Live Nation reported first-quarter 2025 revenue of $3.38 billion, down 11% from $3.80 billion a year earlier, while operating income swung to $115 million from a loss of $41 million. Adjusted operating income fell 6% to $341 million, and the company said it expects double-digit growth in operating income and adjusted operating income for 2025. Shareholders see a mixed picture: the top line and the company's key profit measure declined, but operating income and the per-share loss improved.
Revenue of $3.38 billion for the quarter ended March 31, 2025, compared with $3.80 billion a year earlier
Operating income of $115 million, compared with a loss of $41 million; adjusted operating income of $341 million, compared with $362.5 million
Basic and diluted net loss per share of $0.32, compared with $0.56 a year earlier
Concerts event-related deferred revenue of $5.4 billion, up 24% from a year earlier; the company expects double-digit growth in operating income and adjusted operating income in 2025
Floor & Decor reported first quarter fiscal 2025 results for the period ended March 27, 2025. Net sales rose 5.8% to $1,160.7 million, but comparable store sales fell 1.8%, and diluted EPS fell 2.2% to $0.45 as income tax expense rose. The company also cut its planned fiscal 2025 new store openings to 20 from 25 and gave an updated outlook that includes diluted EPS of approximately $1.70 to $2.00.
Net sales of $1,160.7 million, up 5.8% from $1,097.3 million a year earlier; comparable store sales down 1.8%
Diluted EPS of $0.45 versus $0.46; net income of $48.9 million, down 2.3%
Operating income of $64.2 million, up 8.3%; adjusted EBITDA of $129.8 million, up 5.5%
Fiscal 2025 outlook: diluted EPS of approximately $1.70 to $2.00; new store openings cut to 20 from 25
GoDaddy reported first-quarter 2025 revenue of $1.194 billion, up 7.7% year over year, and operating income of $247.3 million, up 40.6%. Net income fell to $219.5 million from $401.5 million because the prior-year period included a $267.4 million non-cash tax benefit, and the company reaffirmed its full-year 2025 revenue outlook while announcing a new $3 billion share repurchase authorization through 2027.
Total revenue $1,194.3 million, up 7.7% (8.0% in constant currency); operating income $247.3 million, up 40.6%
Net income $219.5 million vs. $401.5 million; diluted EPS $1.51 vs. $2.76, with prior-year results including a $267.4 million tax benefit
Full-year 2025 revenue guidance of $4.860 billion to $4.940 billion reaffirmed; Q2 revenue guidance $1.195 billion to $1.215 billion
New $3.0 billion repurchase authorization through 2027, following completion of the 2022 $4.0 billion program
Block reported first-quarter 2025 gross profit of $2.29 billion, up 9% year over year, and said growth came in below its expectations, mainly due to softer Cash App inflows and card spend. It now expects 2025 gross profit of $9.96 billion, up 12%, reflecting a more cautious view of the macro environment. GAAP net income fell to $190 million from $472 million and diluted EPS fell to $0.30 from $0.74, while adjusted EPS rose 19% to $0.56, so the results point in different directions for shareholders.
Q1 2025 gross profit was $2.29 billion, up 9%: Cash App $1.38 billion (up 10%) and Square $898 million (up 9%).
Net income attributable to common stockholders was $190 million, versus $472 million in Q1 2024; diluted EPS was $0.30, versus $0.74; adjusted EPS was $0.56, up 19%.
The 2025 outlook is $9.96 billion in gross profit (12% growth); Q2 gross profit is expected at $2.45 billion (9.5% growth), with mid-teens growth expected in Q4.
In Q1 the company repurchased 6.8 million Class A shares for $445 million, and $2.2 billion remained on its $4 billion authorization as of March 31, 2025.
Maplebear Inc. (Instacart) reported first-quarter 2025 results on May 1, 2025, with orders up 14% year-over-year to 83.2 million, GTV up 10% to $9,122 million, and total revenue up 9% to $897 million. GAAP net income fell $24 million year-over-year to $106 million, while Adjusted EBITDA rose 23% to $244 million, and the company guided second-quarter GTV to $8,850 million to $9,000 million and Adjusted EBITDA to $240 million to $250 million. For shareholders, revenue and Adjusted EBITDA grew, but GAAP profit declined, and the company repurchased $94 million of shares in the quarter.
Q1 2025 orders of 83.2 million, up 14% year-over-year; GTV of $9,122 million, up 10%
Total revenue of $897 million, up 9%; advertising and other revenue of $247 million, up 14%
GAAP net income of $106 million, down $24 million year-over-year; Adjusted EBITDA of $244 million, up 23%
Q2 2025 outlook: GTV of $8,850 million to $9,000 million and Adjusted EBITDA of $240 million to $250 million
Ryan Specialty reported first-quarter 2025 revenue up 25.0% to $690.2 million and Adjusted EBITDAC up 27.5% to $200.5 million, but GAAP net income swung to a loss of $4.4 million, mainly due to higher income tax expense tied to a legal entity reorganization that the company calls non-recurring and non-cash. The company maintained its full-year 2025 organic revenue growth and Adjusted EBITDAC margin guidance and declared a $0.12 per share quarterly dividend.
Total revenue rose 25.0% to $690.2 million from $552.0 million; Organic Revenue Growth Rate was 12.9% versus 13.7% a year earlier
Net loss of $(4.4) million, or $(0.22) per diluted share, compared with net income of $40.7 million a year earlier, due to $55.4 million of income tax expense
Adjusted diluted EPS rose 11.4% to $0.39 from $0.35; Adjusted EBITDAC margin was 29.1% versus 28.5%
Full-year 2025 guidance maintained: organic revenue growth of 11.0% to 13.0% and Adjusted EBITDAC margin of 32.5% to 33.5%; dividend of $0.12 payable May 27, 2025 to holders of record on May 13, 2025
DiamondRock Hospitality reported first quarter 2025 net income attributable to common stockholders of $9.4 million, or $0.04 per diluted share, up 59.3% from a year earlier, while actual total revenues were $254.9 million, down 0.6%. The company lowered its 2025 comparable RevPAR growth range to (1.0)% to 1.0% from 1.0% to 3.0% and cut its Adjusted EBITDA midpoint by $5.0 million, citing macroeconomic uncertainty, but kept its Adjusted FFO per share outlook at $0.94 to $1.06. Shareholders also elected all nine directors, approved executive pay on an advisory basis, and ratified KPMG LLP as auditor at the April 29, 2025 annual meeting.
Q1 2025 net income attributable to common stockholders was $9.4 million, or $0.04 per diluted share, up 59.3% from Q1 2024.
Comparable RevPAR rose 2.0% to $186.20; actual total revenues were $254.9 million, down 0.6%.
2025 comparable RevPAR growth guidance lowered to (1.0)% to 1.0% from 1.0% to 3.0%; Adjusted EBITDA guidance now $270 million to $295 million, versus $275 million to $300 million previously.
Adjusted FFO per share guidance held at $0.94 to $1.06; all nine director nominees were elected at the April 29, 2025 annual meeting.
Middlesex Water reported first quarter 2025 operating revenue of $44.3 million, up $3.8 million from a year earlier, driven by rate increases, higher consumption and customer growth. Net income fell to $9.5 million, and diluted EPS fell to $0.53 from $0.59, mainly because the first quarter of 2024 included a one-time recovery of $4.3 million (net of tax) in previously incurred costs.
Operating revenue was $44.3 million, up from $40.5 million in the first quarter of 2024.
Net income was $9.5 million, compared with $10.7 million a year earlier; diluted EPS was $0.53, compared with $0.59.
The company completed the approximately $4.6 million acquisition of Ocean View water utility assets in Delaware in April 2025.
The Board declared a second quarter dividend of $0.34 per common share, payable June 2, 2025, to holders of record as of May 15, 2025.
Exponent reported first-quarter 2025 revenue of $145.5 million, roughly flat from a year earlier, but net income fell to $26.7 million, or $0.52 per diluted share, from $30.1 million, or $0.59, a year earlier. The company kept its full-year 2025 guidance but expects second-quarter revenues before reimbursements to fall in the low-single digits, and it declared a $0.30 quarterly dividend.
Q1 2025 revenues before reimbursements were $137.4 million, compared with $137.2 million in Q1 2024
Net income was $26.7 million, or $0.52 per diluted share, versus $30.1 million, or $0.59, a year earlier; EBITDA fell to $37.5 million from $40.1 million
For Q2 2025, the company expects revenues before reimbursements to decline in the low-single digits, and full-year 2025 revenues before reimbursements to grow in the low-single digits
Board declared a quarterly cash dividend of $0.30 per share, payable June 20, 2025 to holders of record as of June 6, 2025
Columbia Sportswear reported first quarter 2025 net sales of $778.5 million, up 1 percent, and diluted earnings per share of $0.75, up from $0.71. The company withdrew its full year 2025 outlook, given on February 4, 2025, citing macroeconomic uncertainty from global trade policies, and did not provide a new full year outlook.
Net sales rose 1 percent (3 percent constant-currency) to $778.5 million; operating income rose 4 percent to $46.5 million
Full year 2025 financial outlook provided February 4, 2025 is withdrawn; no new full year outlook given
Second quarter 2025 net sales expected at $575 million to $600 million, growth of 1 to 5 percent
Net cash used in operating activities was $32.0 million; cash and short-term investments totaled $658.4 million at March 31, 2025
Airbnb reported first-quarter 2025 revenue of $2.3 billion, up 6% year over year, but net income fell to $154 million from $264 million a year earlier, and Adjusted EBITDA slipped to $417 million from $424 million. The company guided second-quarter revenue to $2.99 billion to $3.05 billion and reaffirmed a full-year Adjusted EBITDA Margin of at least 34.5%, while it repurchased $807 million of stock in the quarter.
Q1 2025 revenue $2.3 billion, up 6% year over year; net income $154 million versus $264 million in Q1 2024
Q2 2025 revenue guidance of $2.99 billion to $3.05 billion, representing 9% to 11% growth
Full-year 2025 Adjusted EBITDA Margin expected to be at least 34.5%, consistent with prior guidance
Q1 share repurchases of $807 million; $2.5 billion remained under the authorization as of March 31, 2025
Kirby reported first-quarter 2025 net earnings attributable to Kirby of $76.0 million, or $1.33 per diluted share, up from $1.19 a year earlier, while consolidated revenue fell to $785.7 million from $808.0 million. The company cited improved marine market conditions but said weather and lock delays rose sharply, and it expects earnings and free cash flow to strengthen as 2025 progresses. Shareholders also elected three directors, ratified KPMG LLP as auditor, and approved executive compensation at the April 29, 2025 annual meeting.
Net earnings attributable to Kirby were $76.0 million, or $1.33 per diluted share, versus $70.1 million, or $1.19 per share, in the first quarter of 2024.
Consolidated revenues were $785.7 million, compared with $808.0 million in the first quarter of 2024.
Kirby repurchased $124.7 million of stock year-to-date through April 30, 2025, and expects to use most free cash flow for buybacks absent meaningful acquisitions.
At the April 29, 2025 annual meeting, shareholders elected Anne-Marie N. Ainsworth, William M. Waterman and Shawn D. Williams as Class III directors.
Applied Industrial Technologies reported fiscal third-quarter net sales of $1.2 billion, up 1.8% year over year, and net income of $99.8 million, or $2.57 per share, up 3.7%, but organic daily sales fell 3.1%. It narrowed its fiscal 2025 EPS guidance to $9.85 to $10.00 from $9.65 to $10.05 while lowering its sales growth outlook to flat to up 1% from up 1% to 3%, and also agreed to acquire IRIS Factory Automation and authorized a new 1.5 million share repurchase.
Q3 net sales $1.2 billion, up 1.8% year over year; organic daily sales down 3.1%
Q3 net income $99.8 million, or $2.57 per share; EBITDA $144.9 million, up 6.8%
Fiscal 2025 EPS guidance $9.85 to $10.00 (prior $9.65 to $10.05); sales growth flat to up 1% (prior up 1% to 3%)
Quarterly dividend of $0.46 per share payable May 30, 2025; new 1.5 million share repurchase authorization
California Water Service Group reported first quarter 2025 GAAP net income of $13.3 million, or $0.22 per diluted share, down from $69.9 million, or $1.21 per share, in the first quarter of 2024. The prior-year period included $65.8 million of net income from 2023 interim rate relief, and the company says that after adjusting for this item, net income and diluted EPS rose compared with the prior year.
GAAP net income attributable to the company was $13.3 million, or $0.22 per diluted share, versus $69.9 million, or $1.21 per share, in Q1 2024
Operating revenue was $204.0 million, down $66.7 million from $270.7 million, mainly because Q1 2024 included $90.3 million of 2023 interim rate relief
Excluding that relief, net income rose $9.2 million and diluted EPS rose $0.15 compared with Q1 2024 non-GAAP net income of $4.1 million ($0.07 per share)
The board declared a quarterly dividend of $0.30 per share, the 321st consecutive quarterly dividend; hearings on the 2024 California GRC are expected in May 2025
Schneider National reported first-quarter 2025 income from operations of $42.1 million, up 47% from $28.7 million a year earlier, and diluted earnings per share of $0.15 versus $0.10. The company also cut its full-year 2025 adjusted diluted EPS guidance to $0.75 to $1.00 from $0.90 to $1.20, citing increasing economic uncertainty, so shareholders face a weaker outlook even as quarterly results improved.
Operating revenues rose 6% to $1.4 billion; income from operations rose 47% to $42.1 million.
Diluted EPS was $0.15 versus $0.10 a year earlier; adjusted diluted EPS was $0.16 versus $0.11.
Full-year 2025 adjusted diluted EPS guidance was lowered to $0.75 to $1.00 from $0.90 to $1.20.
Net capital expenditure guidance was reduced to $325 million to $375 million from $400 million to $450 million.
Medical Properties Trust reported a first-quarter 2025 net loss of $118 million, or $0.20 per share, down from $876 million, or $1.46 per share, a year earlier. The company said the narrower loss reflects lower impairment charges, while total revenue fell to $224 million from $271 million and normalized FFO fell to $81 million, or $0.14 per share, from $142 million, or $0.24 per share.
Net loss attributable to common stockholders was $118 million ($0.20 per share), versus $876 million ($1.46 per share) in the first quarter of 2024.
Total revenues were $224 million, compared with $271 million a year earlier.
Normalized FFO was $81 million ($0.14 per share), compared with $142 million ($0.24 per share) a year earlier.
Net loss includes about $73 million ($0.12 per share) in impairments and fair value adjustments tied to Prospect Medical Group and PHP Holdings; a $0.08 per share dividend was paid in April.
InterDigital reported first quarter 2025 results, with revenue down 20% year over year to $210.5 million, mainly due to lower catch-up revenue, while net income rose 42% to $115.6 million and diluted EPS rose 20% to $3.45. The company reaffirmed its full-year 2025 outlook and gave a second-quarter 2025 revenue outlook of $165 million to $170 million, which excludes new agreements and arbitration results not yet signed or received.
Q1 2025 revenue was $210.5 million, versus $263.5 million in Q1 2024, and above the $202 million to $206 million outlook raised on March 6, 2025
Net income was $115.6 million and diluted EPS was $3.45; adjusted EBITDA was $159.1 million, up 22%
Annualized recurring revenue reached an all-time high of $502.9 million, up 30% year over year
Full-year 2025 revenue outlook is $660 million to $760 million, reaffirmed; Q2 2025 revenue outlook is $165 million to $170 million
Pinnacle West reported a first-quarter 2025 net loss attributable to common shareholders of $4.6 million, or $0.04 per diluted share, compared with net income of $16.9 million, or $0.15 per diluted share, a year earlier. Operating revenues rose to $1.03 billion, but higher operations and maintenance expense, depreciation and lower other income drove the decline, and the company said results were in line with its expectations. The company continues to expect 2025 earnings of $4.40 to $4.60 per diluted share on a weather-normalized basis, so shareholders see no change to that outlook.
Net loss attributable to common shareholders of $4.6 million, or $0.04 per diluted share, for the quarter ended March 31, 2025, versus net income of $16.9 million, or $0.15 per diluted share, in Q1 2024
Operating revenues rose to $1,032.3 million from $951.7 million; operations and maintenance expense rose to $300.1 million from $257.6 million
2025 EPS guidance of $4.40 to $4.60 per diluted share on a weather-normalized basis was continued, per the company
Company cited planned power plant outages and a gain on a former subsidiary sale in the prior year as factors in the results
Upbound Group reported first-quarter 2025 revenue of $1,176.4 million, up 7.3% year over year, while GAAP net earnings fell to $24.8 million from $27.7 million. The company raised the midpoint of its full-year 2025 non-GAAP EPS and revenue guidance, and said CFO Fahmi Karam will succeed CEO Mitch Fadel on June 1, 2025.
Revenue $1,176.4 million, up 7.3% year over year; GAAP diluted EPS $0.42 versus $0.50 a year earlier
Non-GAAP diluted EPS $1.00 versus $0.79; special items totaled $43.3 million pre-tax in the quarter
FY2025 non-GAAP diluted EPS guidance $4.00-$4.40, up from $3.90-$4.40; revenue guidance $4.60-$4.75 billion, up from $4.50-$4.75 billion
CEO Mitch Fadel retires June 1, 2025; CFO Fahmi Karam will succeed him as CEO
Arrow Electronics reported first-quarter 2025 sales of $6.81 billion, down 2% from a year earlier but above the high end of its guidance range. GAAP earnings per diluted share were $1.51, versus $1.53 a year earlier, and non-GAAP earnings per share were $1.80, versus $2.41, with both above the high end of guidance. Its second-quarter GAAP earnings per share outlook of $2.80 to $3.00 includes a gain on the sale of a minority investment, while the non-GAAP outlook is $1.90 to $2.10.
Q1 2025 consolidated sales were $6.81 billion, down 2% year over year and flat on a constant currency basis.
Q1 GAAP diluted EPS was $1.51 versus $1.53 in Q1 2024; non-GAAP diluted EPS was $1.80 versus $2.41.
Q2 2025 outlook: consolidated sales of $6.70 billion to $7.30 billion; non-GAAP diluted EPS of $1.90 to $2.10.
Q1 cash flow from operations was approximately $350 million, and the company repurchased $50 million of shares.
Hubbell reported first-quarter 2025 results on May 1, 2025. Net sales fell 2% to $1,365.2 million, GAAP diluted EPS rose to $3.15 from $2.73, and adjusted diluted EPS fell to $3.50 from $3.60. The company maintained its full-year 2025 adjusted diluted EPS outlook of $17.35-$17.85 and gave a GAAP diluted EPS outlook of $15.95-$16.45.
Net sales were $1,365.2 million versus $1,399.1 million a year earlier, down 2%; organic net sales fell 0.6%.
Diluted EPS was $3.15 versus $2.73; adjusted diluted EPS was $3.50 versus $3.60.
Net cash from operating activities was $37.4 million versus $92.2 million; free cash flow was $11 million versus $52 million.
Full-year 2025 adjusted diluted EPS outlook was maintained at $17.35-$17.85; GAAP diluted EPS outlook is $15.95-$16.45.
Broadridge reported third-quarter fiscal 2025 results for the period ended March 31, 2025, with total revenues up 5% to $1,812 million and diluted EPS up 15% to $2.05. The company reaffirmed its recurring revenue growth and Adjusted EPS guidance but lowered its fiscal 2025 closed sales guidance to $240-300 million from $290-330 million, which shareholders should weigh alongside the stronger profit figures.
Recurring revenues rose 7% to $1,204 million; constant currency growth was 8%
Diluted EPS rose 15% to $2.05 and Adjusted EPS rose 9% to $2.44 versus the prior-year quarter
FY25 guidance reaffirmed: 6-8% recurring revenue growth constant currency and Adjusted EPS growth at the middle of the 8-12% range
FY25 closed sales guidance lowered to $240-300 million from $290-330 million
Parker Hannifin reported fiscal third-quarter results for the quarter ended March 31, 2025. Net sales were $5.0 billion, down 2.2% from a year earlier, while diluted EPS rose 33% to $7.37, helped by a $179.8 million discrete tax benefit. The company updated fiscal 2025 guidance to sales growth of approximately (1%) and diluted EPS of $25.92 to $26.12, and repurchased $650 million of shares in the quarter.
Net sales of $5.0 billion, down 2.2% as reported; organic sales growth was 1%
Diluted EPS of $7.37 versus $5.56 a year earlier; adjusted EPS of $6.94, up 7%
Quarterly EPS includes a $179.8 million discrete tax benefit, or $1.37 per diluted share
Fiscal 2025 guidance: diluted EPS of $25.92 to $26.12; sales growth of approximately (1%)
Sotera Health reported first-quarter 2025 net revenues up 2.6% to $255 million and Adjusted EBITDA up 8.8% to $122 million, but a net loss of $13 million, or $0.05 per diluted share, after an approximately $31 million EO claims settlement against Sterigenics. The company reaffirmed its full-year 2025 outlook for net revenue growth of 4.0% to 6.0% and Adjusted EBITDA growth of 4.5% to 6.5%, on a constant currency basis.
Net revenues rose 2.6% to $255 million (4.4% on a constant currency basis) versus Q1 2024.
Net loss of $13 million, or $0.05 per diluted share, compared with net income of $6 million, or $0.02, in Q1 2024; includes an approximately $31 million Illinois EO litigation settlement.
Adjusted EBITDA rose 8.8% to $122 million; Adjusted EPS was $0.14, up $0.01 from $0.13.
2025 outlook reaffirmed: net revenue growth of 4.0% to 6.0% and Adjusted EBITDA growth of 4.5% to 6.5%, constant currency; Adjusted EPS of $0.70 to $0.76.
Air Products reported a fiscal second-quarter net loss of $1.7 billion, or $7.77 per share, after an after-tax charge of $2.3 billion tied to exiting three U.S. projects and other business actions. Excluding that charge, adjusted EPS of $2.69 fell six percent from a year earlier on flat sales of $2.9 billion, and the company revised its fiscal 2025 adjusted EPS guidance to $11.85 to $12.15.
Q2 fiscal 2025 GAAP net loss of $1.7 billion and loss per share of $7.77, versus net income of $581 million and EPS of $2.57 a year earlier
Adjusted EPS of $2.69, down six percent; sales of $2.9 billion, flat versus the prior year
Fiscal 2025 adjusted EPS guidance revised to $11.85 to $12.15; third-quarter guidance $2.90 to $3.00
Eduardo F. Menezes named CEO and Board member; quarterly dividend increased to $1.79 per share, the 43rd consecutive annual increase
Laureate Education reported a first-quarter 2025 net loss of $19.6 million, compared with a net loss of $10.8 million a year earlier, as reported revenue fell 14% to $236.2 million. The company said about $26 million of revenue and $23 million of Adjusted EBITDA were shifted by later semester start dates, and it raised the midpoint of its full-year 2025 revenue and Adjusted EBITDA guidance.
Q1 2025 revenue $236.2 million, down 14% from $275.4 million; organic constant currency revenue down 1%
Operating loss of $(13.2) million versus operating income of $11.1 million in Q1 2024; loss per share $(0.13) versus $(0.07)
Adjusted EBITDA $5.4 million versus $30.6 million; full-year 2025 Adjusted EBITDA outlook $473 million to $480 million
Repurchased about $42 million of stock in Q1 under a $100 million program; about $56 million authorization remains
AAON reported first-quarter 2025 net sales up 22.9% to $322.1 million, driven by BASX and AAON Coil Products growth, and a backlog of $1.0 billion. Net income fell 24.9% and gross margin dropped to 26.8% from 35.2%, as AAON Oklahoma sales declined 23.0% amid supply chain issues tied to R454B refrigerant components. Shareholders get higher sales and backlog but lower profit per share.
Net sales rose 22.9% to $322.1 million; net income fell 24.9% to $29.3 million
Diluted EPS was $0.35 versus $0.46 a year earlier; non-GAAP adjusted EPS was $0.37
Total backlog reached $1,026.9 million at March 31, 2025, up 83.9% year-over-year
Quarterly dividend raised 25.0% to $0.10 per share; $30.0 million of stock repurchased during the quarter
IDEX reported first-quarter 2025 net sales of $814.3 million, up 2% from a year earlier but down 1% organically, while GAAP diluted EPS fell to $1.26 from $1.60. The company kept its full-year 2025 organic sales and diluted EPS guidance ranges and added $20 million of cost containment to offset potential tariff-related volume pressure, which matters to shareholders because profit fell even as reported sales grew.
Net sales were $814.3 million, up 2% reported and down 1% organically; the Mott acquisition drove the reported increase.
GAAP diluted EPS was $1.26 versus $1.60; adjusted diluted EPS was $1.75 versus $1.88.
Orders were a record $871.9 million, up 6% reported and 1% organically.
Full-year 2025 GAAP diluted EPS guidance is $6.56 to $6.95, unchanged; second-quarter guidance is $1.60 to $1.72.
Biogen reported first-quarter 2025 total revenue of $2.4 billion, up 6% from a year earlier, but non-GAAP diluted EPS fell 18% to $3.02 and GAAP diluted EPS fell 39% to $1.64. The company lowered its 2025 non-GAAP EPS guidance to $14.50 to $15.50 from $15.25 to $16.25, mainly due to a $165 million upfront payment to Stoke Therapeutics.
Q1 2025 total revenue was $2,431 million, up 6% year over year; product revenue was $1.7 billion, up 1% at actual currency.
Q1 2025 non-GAAP diluted EPS was $3.02 versus $3.67 a year earlier; GAAP diluted EPS was $1.64 versus $2.70.
Full-year 2025 non-GAAP diluted EPS guidance is $14.50 to $15.50, down from $15.25 to $16.25 in February 2025, reflecting a roughly $0.95 hit from the Stoke payment partly offset by a $0.20 foreign exchange benefit.
Biogen expects 2025 total revenue to decline by a mid-single digit percentage at constant currency versus 2024.
Aptiv reported a first quarter 2025 U.S. GAAP net loss of $11 million, or $0.05 per diluted share, compared with net income of $218 million, or $0.79 per share, a year earlier. The swing mainly reflects a tax expense of $356 million, which includes about $300 million of higher valuation allowances tied to OECD guidance, while adjusted earnings rose to $1.69 per share from $1.16.
Net sales were $4.8 billion, down 2% from the prior year period; adjusted for currency and commodities, revenue fell 1%.
Adjusted operating income was $572 million, a margin of 11.9%, compared with 11.1% a year earlier.
Full-year 2025 guidance calls for net sales of $19.6 billion to $20.4 billion and U.S. GAAP diluted net income per share of $5.25 to $5.85, excluding potential tariff impacts.
Net cash from operating activities was $273 million, up from $244 million, and $2.52 billion remained under the $5.0 billion buyback authorization as of March 31, 2025.
KKR reported a first-quarter 2025 GAAP net loss attributable to common stockholders of $185.9 million, or $0.22 per basic share, compared with net income of $682.2 million a year earlier. Adjusted net income rose 20% year-over-year to $1.0 billion ($1.15 per adjusted share), and fee related earnings rose 23% to $823 million, so shareholders face a split picture between the GAAP loss and the stronger adjusted measures.
GAAP net loss attributable to KKR common stockholders was $(185.9) million, or $(0.22) per basic share, versus $682.2 million, or $0.77 per basic share, in Q1 2024.
GAAP total revenues were $3.1 billion, down from $9.7 billion in Q1 2024; insurance revenues were $1.1 billion versus $7.7 billion.
Adjusted net income was $1.0 billion ($1.15 per adjusted share), up 20% year-over-year; fee related earnings were $823 million, up 23%.
Assets under management reached $664 billion at March 31, 2025, up 15% year-over-year; the quarterly regular dividend was $0.185 per common share.
Iron Mountain reported first-quarter 2025 revenue of $1.6 billion, up 7.8% from a year earlier, and Adjusted EBITDA of $580 million, up 12%. Net income fell to $16 million from $77 million, which the company primarily attributed to changes in exchange rates on intercompany balances. The company raised its full-year 2025 revenue and AFFO per share guidance.
Total revenue was $1.6 billion, up 7.8% reported and 9.4% excluding foreign exchange effects.
Net income was $16.2 million versus $77.0 million a year earlier; reported EPS was $0.05 versus $0.25, while Adjusted EPS was flat at $0.43.
AFFO per share rose to $1.17 from $1.10; 2025 AFFO per share guidance rose to $4.95-$5.05 from $4.85-$4.95.
2025 total revenue guidance rose to $6,740-$6,890 million from $6,650-$6,800 million; the Board declared a $0.785 quarterly dividend payable July 3, 2025.
Granite Construction reported a first-quarter 2025 net loss attributable to the company of $34 million, or $(0.77) per diluted share, compared with a $31 million loss, or $(0.70) per share, a year earlier. Revenue rose 4% year-over-year to $700 million, and adjusted diluted earnings were $0.01 per share versus an adjusted loss of $(0.21) a year earlier. The company said its 2025 guidance is unchanged.
Q1 revenue rose $28 million, or 4%, to $700 million; Materials segment revenue rose 10.2% to $84.9 million.
GAAP net loss attributable to the company was $34 million, or $(0.77) per diluted share, versus $(0.70) a year earlier, with stock-based compensation of $32.2 million compared with $12.9 million.
Adjusted diluted EPS was $0.01, compared with $(0.21) a year earlier; operating cash flow was $4 million.
2025 guidance is unchanged, including revenue of $4.2 billion to $4.4 billion and an adjusted EBITDA margin of 11.0% to 12.0%.
Vontier reported first-quarter 2025 sales of $741.1 million, down 1.9% from a year earlier, and GAAP diluted EPS of $0.59 versus $0.88, while adjusted diluted EPS rose to $0.77 from $0.74. The company kept its full-year 2025 adjusted EPS guidance of $3.00 to $3.15 and set Q2 adjusted EPS guidance of $0.70 to $0.75. The board also replenished the share repurchase authorization to $500 million.
Sales of $741.1 million fell 1.9% from $755.8 million; core sales decreased 0.7%, with Repair Solutions down 16.1%
GAAP operating profit fell 8.4% to $130.1 million; adjusted diluted EPS was $0.77 versus $0.74 a year earlier
Full-year 2025 adjusted diluted EPS guidance remains $3.00 to $3.15; Q2 2025 guidance is $0.70 to $0.75
Board approved the replenished $500 million buyback authorization on April 30, 2025; about $55 million of shares were repurchased in the quarter
ESAB reported first-quarter 2025 sales of $678 million, down 2% on a reported basis and flat on a core organic basis, while net income attributable to ESAB rose to $67.4 million, or $1.10 per diluted share, from $0.98 a year earlier. The company raised its full-year 2025 core sales growth outlook to (1.0)% to 1.5% and its core adjusted EBITDA outlook to $520 million to $530 million, and kept core adjusted EPS guidance at $5.10 to $5.25.
Q1 2025 sales were $678 million, down 2% reported and flat on a core organic basis; core adjusted EBITDA was $128 million, up 4%, with margin up 100 basis points to 19.8%
Diluted EPS was $1.10 on net income attributable to ESAB of $67.4 million; core adjusted diluted EPS was $1.25, compared with $1.20 a year earlier
Full-year 2025 core sales growth outlook raised to (1.0)% to 1.5% from (2.0)% to 0.0%; core adjusted EBITDA outlook raised to $520 million to $530 million from $515 million to $530 million
ESAB completed its acquisition of Bavaria Schweisstechnik GmbH on April 30, 2025
CVS Health reported first-quarter 2025 results with total revenues up 7.0% to $94.6 billion and GAAP diluted EPS of $1.41, up from $0.88 a year earlier. The company raised its full-year Adjusted EPS and cash flow from operations guidance but lowered its full-year GAAP diluted EPS guidance, and it said it will exit the individual exchange business, so shareholders face a mixed picture of higher adjusted profit expectations alongside lower GAAP expectations.
Total revenues rose 7.0% to $94.6 billion; GAAP diluted EPS was $1.41 versus $0.88, and Adjusted EPS was $2.25 versus $1.31.
2025 Adjusted EPS guidance raised to $6.00 to $6.20 from $5.75 to $6.00; GAAP diluted EPS guidance revised to $4.23 to $4.43 from $4.58 to $4.83.
Quarter included a $387 million Omnicare litigation charge tied to an April 2025 jury verdict and a $247 million pre-tax loss on the Accountable Care asset wind-down and sale.
Full-year cash flow from operations guidance raised to approximately $7.0 billion from approximately $6.5 billion; the company will exit the individual exchange business where Aetna independently operates ACA plans for 2026.
ITT reported first-quarter 2025 revenue of $913 million, flat year over year, and GAAP EPS of $1.33, down 1.5% from $1.35, while adjusted EPS rose 2.1% to $1.45. The company updated its full-year 2025 GAAP guidance to EPS of $5.80 to $6.20 and left its adjusted guidance unchanged, with adjusted EPS still expected at $6.10 to $6.50.
Q1 2025 revenue was $913.0 million, compared with $910.6 million in Q1 2024, a 0.3% change.
Operating income was $150.9 million, up 0.7%; adjusted operating income was $159.3 million, up 2.3%.
Net cash from operating activities was $113.4 million; free cash flow was $76.6 million.
The quarterly dividend is $0.351 per share, payable June 30, 2025, to holders of record on June 2, 2025.
Moderna reported first-quarter 2025 revenue of $108 million, down from $167 million a year earlier, while its net loss narrowed to $971 million from $1,175 million. The company reiterated its 2025 revenue range of $1.5 to $2.5 billion and said it expects estimated GAAP operating costs to fall by $1.4 to $1.7 billion by 2027 compared with its 2025 estimate. For shareholders, the lower revenue and cash balance contrast with the smaller loss and planned cost reductions.
Total revenue was $108 million in Q1 2025 versus $167 million in Q1 2024; net product sales were $86 million.
Net loss was $971 million, or $(2.52) per share, compared with $1,175 million, or $(3.07) per share, a year earlier.
The 2025 revenue outlook of $1.5 to $2.5 billion was reiterated, with year-end cash and investments projected at about $6 billion.
Cash, cash equivalents and investments were $8.4 billion at March 31, 2025, down from $9.5 billion at December 31, 2024.
Targa Resources reported first quarter 2025 adjusted EBITDA of $1,178.5 million, up 22% from a year earlier, which the company called a record first quarter. Net income attributable to Targa fell 2% to $270.5 million, and net income to common shareholders fell 27% to $200.0 million after a $70.5 million premium on repurchase of noncontrolling interests, so shareholders see both a higher cash-earnings measure and lower reported profit.
Adjusted EBITDA of $1,178.5 million vs. $966.2 million in Q1 2024; total revenues were $4,561.5 million, roughly flat versus $4,562.4 million.
Net income attributable to Targa was $270.5 million vs. $275.2 million; net income to common shareholders was $200.0 million after the $70.5 million repurchase premium.
2025 adjusted EBITDA estimate of $4.65 billion to $4.85 billion and net growth capital expenditures of $2.6 billion to $2.8 billion were reaffirmed.
Quarterly common dividend raised to $1.00 per share, or $4.00 annualized, and $214 million of shares repurchased through April 2025.
WESCO International reported first-quarter 2025 net sales of $5.34 billion, down 0.1% from a year earlier, while organic sales rose 5.6%. GAAP diluted EPS rose 7.7% to $2.10, but adjusted diluted EPS fell 3.9% to $2.21 and adjusted EBITDA fell 8.7% to $310.7 million. The company reaffirmed its full-year 2025 outlook and said it will redeem its preferred stock in June using proceeds from $800 million of notes.
Net sales $5,343.7 million vs $5,350.0 million a year earlier; organic sales up 5.6%
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