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).
MasTec reported first-quarter 2025 results, with revenue up 6% to $2.8 billion and diluted EPS of $0.13, compared with a loss of $0.53 a year earlier. The company raised its full-year 2025 guidance, with adjusted diluted EPS guidance increased about 9% from the prior midpoint, and its board authorized an additional $250 million share repurchase program.
Q1 2025 revenue of $2.8 billion rose 6%, while Pipeline Infrastructure revenue fell 43.8%
Diluted EPS was $0.13 versus a loss of $0.53 a year earlier; adjusted diluted EPS was $0.51 versus a loss of $0.17
Full-year 2025 adjusted diluted EPS guidance is $5.90 to $6.25, and adjusted EBITDA guidance is $1.12 billion to $1.16 billion
Board authorized an additional $250 million share repurchase program
Murphy USA's board declared a quarterly cash dividend of $0.50 per share, a 2% increase from the prior quarter, payable June 2, 2025, to holders of record as of May 12, 2025. The company also appointed David C. Haley, former President Emeritus of HBK Capital Management, as an independent director, which adds a board member with capital management and corporate leadership experience.
Quarterly dividend of $0.50 per share, or $2.00 annualized, a 2% increase from the prior quarter
Dividend payable June 2, 2025, to stockholders of record as of May 12, 2025
David C. Haley appointed to the Board, serving on the Nominating and Governance and Audit Committees as a Class II Director with a term expiring at the 2027 annual meeting
Haley is President Emeritus of HBK Capital Management and previously led its High Yield and Distressed Investing team
Hecla Mining reported record first-quarter 2025 sales of $261.3 million, up 5% from the fourth quarter of 2024, and net income applicable to common stockholders of $28.7 million, or $0.05 per share, compared with $11.8 million in the prior quarter. Free cash flow was negative $18.4 million, and the company revised 2025 cost guidance at two mines in opposite directions, which shareholders may want to track.
Sales of $261.3 million; net income applicable to common stockholders of $28.7 million, or $0.05 per share, versus $11.8 million in the fourth quarter of 2024
Free cash flow was negative $18.4 million, compared with positive $6.7 million in the prior quarter; cash provided by operating activities was $35.7 million
Lucky Friday 2025 cost of sales guidance raised to $165 million from $135 million; Greens Creek 2025 cash cost guidance lowered to $0.25-$0.75 per silver ounce from $2.00-$2.50
Board-declared common dividend of $0.00375 per share, with a record date of May 23, 2025, payable on or about June 10, 2025
American Homes 4 Rent (AMH) reported first quarter 2025 results, with rents and other single-family property revenues up 8.4% year over year to $459.3 million and Core FFO per share up 6.6% to $0.46. Net income attributable to common shareholders was $110.0 million, or $0.30 per diluted share, roughly flat with $0.30 a year earlier, as higher rents were largely offset by lower net gains on property sales. The company left its full-year 2025 Core FFO guidance of $1.80 to $1.86 per share unchanged.
Rents and other single-family property revenues rose 8.4% to $459.3 million, versus $423.6 million in Q1 2024.
Net income attributable to common shareholders was $110.0 million, or $0.30 per diluted share, versus $109.3 million, or $0.30, a year earlier.
Core FFO attributable to common share and unit holders rose 6.6% to $0.46 per share, from $0.43 in Q1 2024.
Full-year 2025 Core FFO guidance of $1.80 to $1.86 per share was unchanged.
Consolidated Edison reported first-quarter 2025 net income for common stock of $791 million, or $2.26 a share, up from $720 million, or $2.08 a share, a year earlier. The company reaffirmed its 2025 adjusted earnings per share forecast of $5.50 to $5.70.
Q1 2025 net income for common stock was $791 million, or $2.26 a share, compared with $720 million, or $2.08 a share, in Q1 2024.
Adjusted earnings per share (non-GAAP) were $2.26 in Q1 2025, compared with $2.15 in Q1 2024.
The company reaffirmed its 2025 adjusted EPS forecast of $5.50 to $5.70 a share.
The company issued over $1.3 billion in new common equity in the quarter, which CFO Kirk Andrews said satisfies its anticipated 2025 equity needs.
Ameren reported first quarter 2025 net income attributable to common shareholders of $289 million, or $1.07 per diluted share, up from $261 million, or $0.98 per diluted share, a year earlier. The company reaffirmed its 2025 diluted EPS guidance range of $4.85 to $5.05 and said it remains on track, which gives shareholders higher quarterly earnings and an unchanged full-year outlook.
Net income attributable to common shareholders was $289 million, or $1.07 per diluted share, versus $261 million, or $0.98, in Q1 2024.
Adjusted diluted EPS was $1.07 versus $1.02 in Q1 2024; the prior-year figure excluded an $11 million net charge tied to Rush Island.
2025 diluted EPS guidance of $4.85 to $5.05 was reaffirmed and assumes normal temperatures for the last nine months of the year.
Ameren Missouri earned $42 million versus $25 million GAAP in Q1 2024; Ameren Parent posted a $13 million loss versus $2 million of earnings a year earlier.
Arthur J. Gallagher & Co. reported first-quarter 2025 results, with total revenues of $3.69 billion, up from $3.22 billion a year earlier, and net earnings of $709 million, up from $613 million. Reported diluted earnings per share were $2.72, slightly below $2.74 a year earlier, while adjusted diluted EPS rose to $3.67 from $3.45. The company also filed supplemental materials and CFO commentary that include estimates for 2025, which are not reproduced in the filing text.
Total reported revenues were $3,688.4 million for Q1 2025 versus $3,218.1 million for Q1 2024.
Net earnings were $708.9 million versus $612.7 million; reported diluted EPS was $2.72 versus $2.74.
Adjusted diluted EPS was $3.67 versus $3.45; the AssuredPartners acquisition is expected to close in the second half of 2025.
Cousins Properties reported first-quarter 2025 net income available to common stockholders of $20.9 million, or $0.12 per share, up from $13.3 million, or $0.09 per share, a year earlier. Funds from operations (FFO) rose to $124.8 million, or $0.74 per share, from $99.5 million, or $0.65 per share. The company raised its full-year 2025 FFO guidance to $2.75 to $2.83 per share from $2.73 to $2.83, which matters to shareholders because it lifts the lower end of the range it expects for the year.
Q1 2025 net income available to common stockholders was $20.9 million, or $0.12 per share, versus $13.3 million, or $0.09 per share, in Q1 2024.
Q1 2025 FFO was $124.8 million, or $0.74 per share, versus $99.5 million, or $0.65 per share, in Q1 2024.
2025 FFO guidance is $2.75 to $2.83 per share, up from $2.73 to $2.83; the company says the increase is driven mainly by higher parking income and lower real-estate taxes.
2025 net income guidance was narrowed to $0.26 to $0.34 per share from $0.25 to $0.35.
Eversource reported first-quarter 2025 earnings of $550.8 million, or $1.50 per share, up from $521.8 million, or $1.49 per share, a year earlier, and reaffirmed its 2025 EPS projection of $4.67 to $4.82. Shareholders also approved an amendment to the company's Declaration of Trust that removes supermajority voting requirements, while a shareholder proposal for an independent board chairman was not approved.
Q1 2025 earnings $550.8 million ($1.50 per share) vs. $521.8 million ($1.49 per share) in Q1 2024
Full-year 2025 EPS projection of $4.67 to $4.82 reaffirmed; long-term EPS growth of 5% to 7% through 2029 reaffirmed
Quarterly dividend of $0.7525 per share declared, payable June 30, 2025, to holders of record May 15, 2025
Shareholders approved the Declaration of Trust amendment; the independent board chairman proposal failed with 153,366,219 votes against
Omega Healthcare Investors reported first quarter 2025 results, with revenues of $276.8 million and net income of $112.1 million, up from $69.3 million a year earlier. The REIT raised its full-year 2025 Adjusted FFO per share guidance to $2.95-$3.01 from $2.90-$2.98, but Genesis missed its March rent payment and Omega drew on a letter of credit to cover the shortfall.
Q1 2025 revenues $276.8 million, up from $243.3 million in Q1 2024; diluted EPS $0.33 versus $0.27
Q1 2025 Adjusted FFO $221 million, or $0.75 per share, versus $0.68 per share in Q1 2024
2025 Adjusted FFO guidance raised to $2.95-$3.01 per share from $2.90-$2.98
Genesis failed to pay $4.2 million of March rent; it paid full contractual rent in April 2025
Healthcare Realty reported a first-quarter 2025 net loss attributable to common stockholders of $44.9 million, or $0.13 per diluted share, compared with a $106.8 million loss ($0.31 per share) in the fourth quarter of 2024. The company reaffirmed its 2025 guidance, including normalized FFO of $1.56 to $1.60 per share, and said Peter A. Scott becomes President and CEO on April 15, 2025.
Q1 2025 net loss attributable to common stockholders was $44.9 million, or $0.13 per diluted share, versus a $310.8 million loss ($0.82 per share) in Q1 2024
Normalized FFO was $0.39 per share in Q1 2025, versus $0.40 in Q4 2024 and $0.39 in Q1 2024
Peter A. Scott appointed President and CEO effective April 15, 2025; Connie Moore served as interim CEO from November 2024 until April 14, 2025
Quarterly dividend of $0.31 per share payable May 23, 2025, to holders of record on May 12, 2025
Motorola Solutions reported first-quarter 2025 results for the quarter ended March 29, 2025, with sales up 6% to $2.5 billion and GAAP EPS of $2.53, compared with a loss of $0.23 a year earlier. The company kept its full-year 2025 outlook of about 5.5% revenue growth and non-GAAP EPS of $14.64 to $14.74, and expects second-quarter non-GAAP EPS of $3.32 to $3.37.
Q1 2025 sales of $2,528 million, up 6% from $2,389 million; Software and Services sales rose 9%, Products and Systems Integration rose 4%
GAAP EPS of $2.53 versus a loss of $0.23 in Q1 2024; non-GAAP EPS of $3.18, up 13%
Full-year 2025 guidance maintained: about 5.5% revenue growth and non-GAAP EPS of $14.64 to $14.74; Q2 non-GAAP EPS expected at $3.32 to $3.37
Company repurchased $325 million of common stock and paid $182 million in dividends in the quarter; operating cash flow was $510 million
A10 Networks reported first-quarter 2025 revenue of $66.1 million, up 9% from a year earlier, while GAAP net income was $9.5 million, slightly below the prior-year $9.7 million, with GAAP EPS flat at $0.13. Non-GAAP EPS rose to $0.20 from $0.17, and the board approved a $0.06 quarterly dividend and a new $75 million share repurchase program, which shareholders should weigh against the company's $355.8 million in cash and marketable securities.
Revenue of $66.1 million, up 9% from $60.7 million in Q1 2024
GAAP net income of $9.5 million, or $0.13 per diluted share, versus $9.7 million and $0.13 a year earlier
Non-GAAP net income of $15.0 million, or $0.20 per diluted share, versus $0.17 a year earlier
Quarterly dividend of $0.06 per share payable June 2, 2025 to holders of record May 15, 2025; new $75 million buyback authorized with no specified term
Reddit reported first-quarter 2025 revenue of $392.4 million, up 61% year-over-year, and net income of $26.2 million, compared with a net loss of $575.1 million a year earlier. The company also estimated second-quarter revenue of $410 million to $430 million and Adjusted EBITDA of $110 million to $130 million.
Revenue of $392.4 million rose 61% year-over-year; advertising revenue was $358.6 million.
Net income was $26.2 million, versus a net loss of $575.1 million in Q1 2024; diluted EPS was $0.13.
Adjusted EBITDA was $115.3 million, or 29.4% of revenue; operating cash flow was $127.6 million.
For Q2 2025, Reddit estimates revenue of $410 million to $430 million and Adjusted EBITDA of $110 million to $130 million.
SPX Technologies reported first-quarter 2025 revenue of $482.6 million, up 3.7%, and raised its full-year 2025 guidance for revenue, adjusted EBITDA and adjusted EPS. The company linked the higher adjusted EBITDA range to its strong first quarter and the April acquisition of Sigma & Omega, partly offset by tariffs and mitigation efforts. For shareholders, the higher profit outlook is accompanied by negative first-quarter operating cash flow and total debt that rose to $960.3 million.
Q1 2025 revenue was $482.6 million, up 3.7%; GAAP EPS was $1.10, up 4.8%; adjusted EPS was $1.38, up 10.4%.
2025 revenue guidance raised to $2.20 billion to $2.26 billion from $2.13 billion to $2.19 billion; adjusted EBITDA guidance raised to $470 million to $495 million from $460 million to $490 million.
Q1 net operating cash flow from continuing operations was negative $10.4 million, compared with positive $10.7 million a year earlier.
Total debt was $960.3 million at March 29, 2025, up from $614.7 million at December 31, 2024.
Red Rock Resorts reported first quarter 2025 net revenues of $497.9 million, up 1.8%, and net income of $86.0 million, up 9.7%, both versus the first quarter of 2024. Adjusted EBITDA rose 2.8% to $215.1 million, and diluted earnings per share were $0.75 compared with $0.68 a year earlier. The Board also declared a $1.00 special dividend and a $0.25 quarterly dividend.
Net revenues were $497.9 million, up $9.0 million (1.8%) from $488.9 million; Las Vegas operations contributed $495.0 million.
Net income was $86.0 million, up 9.7% from $78.4 million; net income attributable to Red Rock Resorts, Inc. was $44.7 million versus $42.8 million.
Diluted EPS for Class A common stock was $0.75 versus $0.68; Adjusted EBITDA was $215.1 million, up 2.8%.
A $1.00 special dividend is payable May 21, 2025 (record date May 14, 2025); a $0.25 quarterly dividend is payable June 30, 2025 (record date June 16, 2025).
CareTrust REIT reported first quarter 2025 net income attributable to the company of $65.8 million, or $0.35 per diluted share, up from $28.7 million, or $0.22 per share, a year earlier. The company raised its 2025 guidance and increased its quarterly dividend from $0.29 to $0.335 per share, while also reporting that shareholders of Care REIT plc approved its planned acquisition for about $856 million.
Q1 2025 total revenues were $96.6 million, up from $63.1 million in Q1 2024; normalized FFO was $77.8 million, or $0.42 per share, versus $0.35 a year earlier.
2025 guidance was increased: net income of $1.36 to $1.40 per diluted share, normalized FFO of $1.69 to $1.73, and normalized FAD of $1.73 to $1.77.
Quarterly dividend increased from $0.29 to $0.335 per common share.
Care REIT plc shareholders approved the acquisition on April 29, 2025; the company expects to close on or around May 9, 2025, subject to approval by the English Court.
Roku reported first-quarter 2025 results for the period ended March 31, 2025, with total net revenue of $1.02 billion, up 16% year over year, and a net loss of $27.4 million, narrowing from $50.9 million a year earlier. The company reaffirmed its full-year 2025 outlook of $3.950 billion in Platform revenue and $350 million in Adjusted EBITDA, and it also said it has agreed to acquire Frndly TV.
Total net revenue was $1,020.7 million, up 16% YoY; Platform revenue was $880.8 million, up 17% YoY.
Net loss was $27.4 million, or $(0.19) per share, compared with a net loss of $50.9 million, or $(0.35) per share, in Q1 2024.
Adjusted EBITDA was $56.0 million, up 37% YoY; Devices gross loss was $19.3 million.
For Q2 2025, the company expects total net revenue of approximately $1.070 billion and Adjusted EBITDA of approximately $70 million.
LeMaitre Vascular reported first-quarter 2025 net sales of $59.9 million, up 12% from a year earlier, and diluted earnings per share of $0.48, up from $0.44. The company raised its full-year 2025 sales guidance to $242 million to $249 million, from a prior $239 million, which gives shareholders a higher revenue outlook.
Q1 2025 net sales $59.9 million, up 12% (13% organic); gross margin 69.2%, up 60 basis points
Diluted EPS $0.48 vs. $0.44 a year earlier; income from operations $12.6 million, up 6%
Full-year 2025 sales guidance $242 million to $249 million, up from prior $239 million; Q2 sales guidance $61.5 million to $63.5 million
Quarterly dividend of $0.20 per share, payable May 29, 2025 to holders of record on May 15, 2025
Twilio reported first quarter 2025 revenue of $1.17 billion, up 12% year-over-year, and GAAP income from operations of $23 million, compared with a loss of $43.5 million a year earlier. The company raised its full-year 2025 organic revenue growth guidance to 7.5% to 8.5% from 7% to 8%, and raised its non-GAAP income from operations and free cash flow targets to $850 million to $875 million from $825 million to $850 million.
Q1 2025 revenue of $1.17 billion, up 12% year-over-year; GAAP net income of $20 million, or $0.12 per diluted share, versus a net loss of $0.31 per share a year earlier
Non-GAAP income from operations of $213.4 million in Q1 2025, compared with $159.6 million in Q1 2024
Full-year 2025 organic revenue growth guidance raised to 7.5% to 8.5%; non-GAAP income from operations and free cash flow targets raised to $850 million to $875 million
Q2 2025 revenue guidance of $1.18 billion to $1.19 billion, or 9% to 10% growth
Universal Display reported first-quarter 2025 revenue of $166.3 million, up from $165.3 million a year earlier, and net income of $64.4 million, or $1.35 per diluted share, versus $56.9 million, or $1.19, in the prior-year quarter. The company affirmed its 2025 revenue guidance of $640 million to $700 million and announced a $100 million share repurchase authorization, which has no time limit, alongside a second-quarter dividend of $0.45 per share.
Q1 2025 total revenue was $166.3 million versus $165.3 million in Q1 2024; material sales fell to $86.2 million from $93.3 million, while royalty and license fees rose to $73.6 million from $68.3 million.
Q1 2025 net income was $64.4 million, or $1.35 per diluted share, compared with $56.9 million, or $1.19 per diluted share, a year earlier.
The Board authorized repurchases of up to $100 million of common stock, effective immediately, with no time limit; the program may be modified, suspended or discontinued at any time.
2025 revenue guidance of $640 million to $700 million was affirmed; the second-quarter dividend of $0.45 per share is payable June 30, 2025, to holders of record on June 16, 2025.
Paylocity reported results for the third quarter of fiscal 2025, ended March 31, 2025. Total revenue rose 13% to $454.5 million and GAAP net income reached $91.5 million, or $1.61 per diluted share, compared with $1.50 a year earlier. The company said it raised its fiscal 2025 revenue and profitability guidance.
Total revenue was $454.5 million, up 13% from $401.3 million in the third quarter of fiscal 2024; recurring and other revenue was $421.1 million, up 15%.
GAAP net income was $91.5 million, or $1.61 per diluted share, versus $85.3 million, or $1.50 per diluted share, a year earlier.
Fiscal 2025 total revenue is now expected to be $1.580 billion to $1.585 billion, and adjusted EBITDA $571.0 million to $575.0 million.
The company repurchased $150 million, or approximately 800,000 shares, through April 2025.
Five9 reported first-quarter 2025 revenue of $279.7 million, up 13% from $247.0 million a year earlier, and GAAP net income of $0.6 million, or $0.01 per diluted share, versus a GAAP net loss of $7.1 million in the prior-year quarter. The company also issued full-year 2025 revenue guidance of $1.140 billion to $1.144 billion and second-quarter revenue guidance of $274.5 million to $275.5 million.
Q1 2025 revenue rose 13% to $279.7 million; GAAP net income was $0.6 million, or $0.01 per diluted share, compared with a $7.1 million GAAP net loss a year earlier.
Non-GAAP net income was $47.3 million, or $0.62 per diluted share, compared with $35.7 million, or $0.48 per diluted share, in Q1 2024.
Q1 2025 GAAP operating cash flow was $48.4 million, compared with $32.4 million in Q1 2024.
Full-year 2025 revenue guidance is $1.140 billion to $1.144 billion; Q2 2025 revenue guidance is $274.5 million to $275.5 million.
Trupanion reported first quarter 2025 results for the period ended March 31, 2025. Total revenue rose 12% to $342.0 million, and the net loss narrowed to $1.5 million, or $0.03 per share, from $6.9 million, or $0.16 per share, a year earlier. The filing does not include updated financial guidance.
Total revenue was $342.0 million, up 12% from the first quarter of 2024; subscription business revenue was $233.1 million, up 16%.
Net loss was $1.5 million, or $0.03 per share, versus $6.9 million, or $0.16 per share, in the first quarter of 2024.
Adjusted EBITDA was $12.2 million, compared with $4.8 million a year earlier; free cash flow was $14.0 million.
Total enrolled pets were 1,667,637 at March 31, 2025, down 2% year over year, while subscription enrolled pets rose 5% to 1,052,845.
Duolingo reported first-quarter 2025 revenue of $230.7 million, up 38% from a year earlier, and net income of $35.1 million, up from $27.0 million. The company raised its full-year 2025 bookings growth guidance to about 29% and its Adjusted EBITDA margin guidance midpoint to 28%, which signals stronger expected growth and profitability for shareholders.
Q1 total bookings were $271.6 million, up 38%; paid subscribers reached 10.3 million, up 40%.
Q1 gross margin fell to 71.1% from 73.0%, mainly due to higher generative AI costs tied to Duolingo Max.
Full-year 2025 revenue guidance is $987 million to $996 million, and full-year Adjusted EBITDA margin guidance midpoint is 28%.
Monolithic Power Systems reported first-quarter 2025 revenue of $637.6 million, up 39.2% from a year earlier and up 2.6% from the fourth quarter of 2024. GAAP diluted EPS was $2.79, up from $1.89 a year earlier, and the company expects second-quarter revenue of $640.0 million to $660.0 million.
Q1 2025 revenue was $637.6 million, up 39.2% year over year and 2.6% quarter over quarter
GAAP net income was $133.8 million, or $2.79 per diluted share, versus $92.5 million, or $1.89, a year earlier
Non-GAAP diluted EPS was $4.04, down 1.2% from $4.09 in the fourth quarter of 2024
Q2 2025 guidance calls for revenue of $640.0 million to $660.0 million and GAAP gross margin of 54.9% to 55.5%
Perdoceo Education reported first-quarter 2025 revenue of $213.0 million, up 26.6%, and diluted earnings per share of $0.65 versus $0.59 a year earlier, with the USAHS acquisition and CTU enrollment growth cited as drivers. The company also updated its 2025 outlook, with full-year GAAP diluted EPS guided to $2.21 to $2.37 and second-quarter EPS to $0.59 to $0.61.
Revenue was $213.0 million, up from $168.3 million; USAHS contributed $39.2 million.
Diluted EPS was $0.65 versus $0.59; adjusted diluted EPS was $0.70 versus $0.60.
2025 GAAP diluted EPS outlook is $2.21 to $2.37; second-quarter outlook is $0.59 to $0.61.
Cash and investments totaled $612.2 million at March 31, 2025; the company repurchased $25.2 million of stock and declared a $0.13 quarterly dividend payable June 13, 2025.
Alignment Healthcare reported first-quarter 2025 revenue of $926.9 million, up 47.5% year over year, and a net loss of $9.4 million, narrowed from $46.6 million a year earlier. The company raised the midpoints of its 2025 outlook for membership, revenue, adjusted gross profit and adjusted EBITDA, and said CFO Thomas Freeman will be succeeded by Jim Head effective May 2, 2025.
Q1 2025 revenue was $926.9 million, up 47.5%; net loss was $9.4 million versus $46.6 million in Q1 2024.
Adjusted EBITDA was $20.2 million, compared with a loss of $12.0 million in Q1 2024.
Health plan membership was about 217,500 at March 31, 2025, up 31.7% year over year.
Twelve-month 2025 revenue outlook is $3,770 million to $3,815 million; Jim Head succeeds Thomas Freeman as CFO effective May 2, 2025.
LXP Industrial Trust reported first-quarter 2025 results on May 1, 2025, with total gross revenues of $88.9 million, up from $86.3 million a year earlier. Net income attributable to common shareholders was $17.3 million, or $0.06 per diluted share, compared with a net loss of $1.9 million, or $0.01 per share, in the prior-year quarter; the filing attributes part of the result to a $24.6 million gain on sale of real estate. The Trust also gave updated 2025 guidance, and shareholders may weigh the reaffirmed Adjusted Company FFO range against the lower Adjusted Company FFO dollar total.
Total gross revenues were $88.9 million, compared with $86.3 million for the first quarter of 2024.
Adjusted Company FFO was $46.4 million, or $0.16 per diluted share, versus $48.8 million, or $0.16 per diluted share, a year earlier.
The Trust estimates 2025 net income attributable to common shareholders of $0.12 to $0.16 per diluted share and reaffirmed Adjusted Company FFO guidance of $0.61 to $0.65 per diluted share.
Subsequent to quarter end, the Trust sold a property in Chillicothe, OH, for a gross price of $39.6 million.
AMETEK reported first-quarter 2025 sales of $1.73 billion, in line with a year earlier, while GAAP diluted earnings per share rose to $1.52 from $1.34. The company said it continues to expect full-year 2025 adjusted EPS of $7.02 to $7.18 and sales up low single digits, citing tariff headwinds it expects to offset through mitigation actions.
Net sales were $1.73 billion versus $1.74 billion in Q1 2024; GAAP operating income rose to $454.8 million from $417.2 million
Adjusted diluted EPS was $1.75, up 7% from $1.64 in Q1 2024; GAAP diluted EPS was $1.52 versus $1.34
2025 outlook: adjusted diluted EPS of $7.02 to $7.18, up 3% to 5% versus 2024 on a comparable basis
Cullen/Frost reported first-quarter 2025 net income available to common shareholders of $149.3 million, up from $134.0 million a year earlier, and diluted earnings of $2.30 per share, up from $2.06. The board also raised the quarterly common dividend 5.3 percent to $1.00 per share from $0.95.
Net income available to common shareholders was $149.3 million, versus $134.0 million in Q1 2024.
Diluted earnings per share were $2.30, versus $2.06 a year earlier.
Net interest income on a taxable-equivalent basis rose 6.1 percent to $436.4 million; non-interest expense rose 6.7 percent to $348.1 million.
The board declared a $1.00 common dividend payable June 13, 2025 to holders of record on May 30.
Itron reported first-quarter 2025 results for the three months ended March 31, 2025. Revenue rose 1% to $607 million, GAAP diluted EPS rose to $1.42 from $1.12, and non-GAAP diluted EPS rose to $1.52 from $1.24. The company also gave a second-quarter 2025 outlook of revenue between $605 million and $615 million and non-GAAP diluted EPS between $1.30 and $1.40.
Revenue of $607 million, up 1%; gross margin of 35.8%, up 180 basis points
GAAP net income attributable to Itron of $65 million, or $1.42 per diluted share, vs. $1.12 a year earlier
Free cash flow of $67 million, vs. $34 million in the prior-year quarter
Q2 2025 outlook: revenue between $605 million and $615 million; non-GAAP diluted EPS between $1.30 and $1.40
NNN REIT reported first quarter 2025 results on May 1, 2025, with revenues of $230.9 million, up from $215.4 million a year earlier. Core FFO per share rose to $0.86 from $0.83, while diluted net earnings per share slipped to $0.51 from $0.52. The company kept its 2025 guidance, including Core FFO of $3.33 to $3.38 per share.
Revenues were $230.9 million for the quarter ended March 31, 2025, compared with $215.4 million a year earlier.
Diluted net earnings per share were $0.51, versus $0.52 in the first quarter of 2024; Core FFO per share was $0.86, versus $0.83.
Occupancy was 97.7% as of March 31, 2025, down from 99.4% a year earlier.
2025 guidance was maintained, with Core FFO per share of $3.33 to $3.38 and a quarterly dividend of $0.58 per share.
OSI Systems reported fiscal third-quarter 2025 revenue of $444.4 million, up 10% from a year earlier, with GAAP diluted EPS of $2.40 versus $1.95. The company raised its fiscal 2025 revenue guidance to $1.690 billion to $1.715 billion and non-GAAP diluted EPS guidance to $9.15 to $9.45, both modestly higher than prior ranges.
Q3 FY25 revenue $444.4 million, up 10% from $405.4 million; GAAP net income $41.1 million, or $2.40 per diluted share, versus $1.95 a year earlier
Q3 non-GAAP diluted EPS $2.44, versus $2.16 in the prior-year quarter
Fiscal 2025 guidance raised: revenue $1.690 billion to $1.715 billion (previously $1.685 billion to $1.710 billion); non-GAAP diluted EPS $9.15 to $9.45 (previously $9.10 to $9.40)
Quarter-end backlog over $1.8 billion; operating cash flow $81.6 million versus cash used of $52.1 million a year earlier
National Fuel Gas reported second-quarter fiscal 2025 GAAP net income of $216 million, or $2.37 per share, up 32% per share from the prior year. The company raised its fiscal 2025 adjusted earnings per share guidance to $6.75 to $7.05 from $6.50 to $7.00, citing the second-quarter results and higher expected production in its Exploration and Production segment. The guidance assumes NYMEX natural gas prices average $3.50 per MMBtu for the remaining six months of the fiscal year.
GAAP net income of $216 million, or $2.37 per share, versus $1.80 per share a year earlier; adjusted operating results were $2.39 per share, up 34%.
Fiscal 2025 adjusted EPS guidance raised to $6.75 to $7.05 from $6.50 to $7.00, a $0.15 increase at the midpoint.
Seneca produced a record 105.5 Bcf of natural gas, up 3% from the prior year.
Utility segment net income rose 44% per share to $0.70, driven by the New York jurisdiction's 2024 rate settlement.
Grainger reported first-quarter 2025 sales of $4.3 billion, up 1.7%, and diluted EPS of $9.86, up 2.5% from a year earlier, while operating margin fell 20 basis points to 15.6%. The company reaffirmed its full-year 2025 guidance and announced a 10% quarterly dividend increase, and it returned $380 million to shareholders through dividends and share repurchases in the quarter.
Net sales were $4,306 million, up 1.7%; daily, constant currency sales rose 4.4%
Diluted EPS was $9.86 versus $9.62, with the company citing fewer shares outstanding as the main driver
Operating margin was 15.6%, down from 15.8%; operating cash flow was $646 million and free cash flow $521 million
Full-year 2025 guidance was reaffirmed, including net sales of $17.6 to $18.1 billion and diluted EPS of $39.00 to $41.50
Patrick Industries reported first quarter 2025 net sales up 7% to $1.0 billion, with net income of $38 million and diluted EPS of $1.11, compared with $35 million and $1.06 a year earlier. Adjusted diluted EPS fell to $1.11 from $1.19, and free cash flow over the trailing twelve months dropped to $251 million from $391 million. The company gave no numeric guidance and said rising tariffs have increased macroeconomic uncertainty.
Net sales rose 7%, or $70 million, to $1.0 billion; RV revenue rose 14% and Housing revenue rose 7%, while Marine fell 4% and Powersports fell 2%.
Reported diluted EPS was $1.11 vs. $1.06; adjusted diluted EPS was $1.11 vs. $1.19 in the prior year period.
Free cash flow on a trailing twelve-month basis was $251 million vs. $391 million a year earlier; total net leverage ratio was 2.7x at quarter end.
The company repurchased about 99,800 shares for $8.5 million and paid $14 million in regular dividends; $191.5 million remained under its repurchase authorization.
Southern Company reported first-quarter 2025 net income of $1.3 billion, or $1.21 per share, up from $1.1 billion, or $1.03 per share, a year earlier. Excluding certain items, earnings were $1.23 per share, and operating revenues rose 17.0% to $7.8 billion, which points to stronger results for shareholders.
GAAP net income was $1.3 billion, or $1.21 per share, versus $1.1 billion, or $1.03 per share, in Q1 2024.
Excluding items, earnings were $1.23 per share versus $1.03 a year earlier.
Operating revenues were $7.8 billion, up 17.0% from $6.6 billion.
A $26 million pre-tax accelerated depreciation charge tied to the Kay Wind repowering reduced reported earnings; the project is expected to reach commercial operation in Q3 2026.
IDACORP reported first quarter 2025 net income attributable to the company of $59.6 million, or $1.10 per diluted share, up from $48.2 million, or $0.95 per diluted share, a year earlier. The company reaffirmed its 2025 earnings guidance of $5.65 to $5.85 per diluted share, with no change from its February 20, 2025 estimate.
Q1 2025 net income attributable to IDACORP was $59.6 million, or $1.10 per diluted share, versus $48.2 million, or $0.95, in Q1 2024.
Higher retail revenues per megawatt-hour added $11.3 million to Idaho Power net income, driven by base rates effective January 1, 2025.
2025 guidance reaffirmed at $5.65 to $5.85 per diluted share, assuming normal weather and power supply expenses.
Idaho Power's customer count grew about 2.6 percent, or roughly 16,500 customers, in the twelve months ended March 31, 2025.
Belden reported fiscal first quarter 2025 revenues of $625 million, up 17% from a year earlier and up 11% organically, with GAAP diluted EPS of $1.27, up 41%. The company also guided second quarter revenues to $645 million to $660 million and adjusted EPS to $1.67 to $1.77, and said it had repurchased $100 million of shares year to date through April 30, 2025.
Revenues of $625 million, up 17% from $536 million; organic growth of 11%
GAAP diluted EPS of $1.27, up from $0.90; adjusted EPS of $1.60, up 29%
Q2 2025 guidance: revenues of $645 million to $660 million; adjusted EPS of $1.67 to $1.77
Repurchased $100 million of shares year to date through April 30, 2025
APi Group reported first-quarter 2025 net revenues of $1.7 billion, up 7.4%, with adjusted diluted EPS of $0.37, up 8.8%, while GAAP net income fell to $35 million from $45 million. The company raised its full-year 2025 net revenue and adjusted EBITDA guidance, citing foreign currency rates, and authorized a new $1 billion share repurchase program, which matters to shareholders because it signals higher expected results and capital return.
Net revenues were $1.7 billion, up 7.4% (1.9% organic); Safety Services rose 13.4% while Specialty Services fell 6.8%.
Net income was $35 million versus $45 million a year earlier; diluted EPS was $0.11 versus a loss of $1.34, and adjusted diluted EPS was $0.37, up 8.8%.
2025 guidance raised: net revenues $7,400 to $7,600 million (from $7,300 to $7,500 million) and adjusted EBITDA $985 to $1,035 million (from $970 to $1,020 million).
The company repurchased $75 million of common stock in the quarter and authorized a new $1 billion repurchase program; it will hold an Investor Day on May 21, 2025.
ATI reported first quarter 2025 sales of $1.14 billion, up 10% from a year earlier, and net income attributable to ATI of $97.0 million, up 47%. The company also updated its full-year 2025 guidance, which assumes about $250 million of share repurchases in the second quarter, and said a union agreement for Specialty Rolled Products employees was ratified.
Q1 2025 diluted EPS was $0.67 vs $0.46 in Q1 2024; adjusted EPS was $0.72 vs $0.48
Q1 2025 adjusted EBITDA was $194.6 million, or 17.0% of sales, vs $151.0 million a year earlier
Full-year 2025 guidance: adjusted EBITDA $800 million to $840 million; adjusted EPS $2.87 to $3.09
Q1 2025 repurchases were $70 million; the guidance assumes about $250 million in Q2 2025 repurchases
Acadian Asset Management reported first-quarter 2025 results that improved on the prior year. U.S. GAAP net income attributable to controlling interests rose 38% to $20.1 million, and GAAP diluted EPS rose 46% to $0.54, with total revenue up 13.4% to $119.9 million. The company also reported $3.8 billion of net inflows and $121.9 billion of assets under management at March 31, 2025.
U.S. GAAP net income attributable to controlling interests was $20.1 million, up 37.7% from $14.6 million in Q1 2024.
GAAP diluted EPS was $0.54 versus $0.37; ENI diluted EPS was $0.54 versus $0.44, up 22.7%.
Total revenue was $119.9 million, up 13.4%, and assets under management were $121.9 billion at March 31, 2025.
Net flows were $3.8 billion in Q1 2025 versus $0.4 billion a year earlier; the board declared a $0.01 dividend payable June 27, 2025.
Frontdoor reported first-quarter 2025 revenue up 13% to $426 million, net income up 9% to $37 million, and diluted EPS of $0.49 versus $0.43 a year earlier. The company raised its full-year 2025 revenue, gross margin and Adjusted EBITDA outlook and increased its 2025 share repurchase target to at least $200 million.
Gross profit margin rose 380 basis points to 55%, and Adjusted EBITDA rose 41% to $100 million
Full-year 2025 revenue outlook raised to $2.03 billion to $2.05 billion; Adjusted EBITDA outlook raised to $500 million to $520 million
2025 share repurchase target raised to at least $200 million; $105 million repurchased year-to-date through April 2025
Dominion Energy reported first-quarter 2025 GAAP net income of $646 million ($0.75 per share), up from $441 million ($0.50 per share) a year earlier, and operating earnings of $803 million ($0.93 per share), up from $485 million ($0.55). The company affirmed its full-year 2025 operating earnings guidance of $3.28 to $3.52 per share, which matters to shareholders because revenue and earnings both rose and the outlook was maintained.
Operating revenue was $4,076 million, up from $3,632 million in the first quarter of 2024.
GAAP net income was $646 million ($0.75 per share) versus $441 million ($0.50 per share) a year earlier.
Operating earnings (non-GAAP) were $803 million ($0.93 per share) versus $485 million ($0.55 per share).
Full-year 2025 operating earnings guidance of $3.28 to $3.52 per share was affirmed, along with prior guidance from the fourth quarter 2024 earnings call.
Intercontinental Exchange reported first-quarter 2025 results for the quarter ended March 31, 2025, with net revenues of $2.5 billion, up 8% from a year earlier, and GAAP diluted earnings per share of $1.38, up 4%. Adjusted diluted EPS was $1.72, up 16%, and the company returned $519 million to stockholders through dividends and share repurchases. Shareholders also received second-quarter 2025 GAAP operating expense guidance of $1.230 billion to $1.240 billion.
Net revenues of $2.5 billion, up 8% year over year; net income attributable to ICE of $797 million.
GAAP diluted EPS of $1.38 versus $1.33 a year earlier; adjusted diluted EPS of $1.72 versus $1.48.
Returned $519 million to stockholders in the quarter, including $241 million in share repurchases and $278 million in dividends.
Mortgage technology segment posted a GAAP operating loss of $27 million; second-quarter 2025 GAAP operating expenses are expected at $1.230 billion to $1.240 billion.
Hayward Holdings reported first-quarter fiscal 2025 results for the quarter ended March 29, 2025, with net sales up 8% and net income up 46% from a year earlier. The company confirmed its full-year 2025 outlook of $1.060 billion to $1.100 billion in net sales and $280 million to $290 million in Adjusted EBITDA, citing tariffs as a factor.
Net sales rose 8% to $228.8 million; net income rose 46% to $14.3 million
Diluted EPS rose 50% to $0.06; Adjusted diluted EPS rose 25% to $0.10
Adjusted EBITDA rose 9% to $49.1 million; operating cash use was $5.9 million, down from $77.2 million a year earlier, helped by a $100.0 million receivables sale
Full-year 2025 guidance unchanged: net sales $1.060 billion to $1.100 billion, Adjusted EBITDA $280 million to $290 million
Shake Shack reported first quarter 2025 results for the period ended March 26, 2025, with total revenue of $320.9 million, up 10.5% from a year earlier, and net income attributable to Shake Shack Inc. of $4.2 million, or $0.10 per diluted share, compared with $0.05 a year earlier. Same-Shack sales grew only 0.2%, and the company's shareholder letter cites weather and broader consumer pressure, so shareholders are seeing profit growth driven mainly by new restaurant openings rather than by sales at existing locations. The filing does not include updated financial guidance.
Total revenue was $320.9 million, up 10.5%; Shack sales were $309.8 million and licensing revenue was $11.1 million.
Net income attributable to Shake Shack Inc. was $4.2 million, or $0.10 per diluted share, versus $0.05 a year earlier.
Same-Shack sales rose 0.2%; restaurant-level profit margin was 20.7% of Shack sales, up from 19.5%.
Adjusted EBITDA was $40.7 million, up 13.5%; the company opened four Company-operated Shacks and seven licensed Shacks in the quarter.
Howmet Aerospace reported first quarter 2025 revenue of $1.94 billion, up 6% year over year, and net income of $344 million, or $0.84 per diluted share, versus $243 million, or $0.59, a year earlier. The company widened its full-year 2025 revenue guidance and raised its adjusted EBITDA, adjusted EPS and free cash flow guidance, which matters to shareholders because it signals higher expected earnings and continued capital returns.
Net income of $344 million, or $0.84 per diluted share, versus $243 million, or $0.59, in Q1 2024
Adjusted EPS excluding special items of $0.86, up 51% year over year; FY2025 baseline adjusted EPS guidance of $3.40, range $3.36 to $3.44
Repurchased $125 million of common stock in Q1 2025 and an additional $100 million in April 2025
FY2025 revenue guidance range $7.88 billion to $8.18 billion, baseline $8.03 billion
Quanta Services reported first-quarter 2025 revenue of $6.23 billion, up from $5.03 billion a year earlier, and diluted earnings per share of $0.96, up from $0.79. The company raised the midpoint of its full-year 2025 revenue, adjusted EBITDA and EPS expectations, which matters to shareholders because it signals higher expected earnings for the year.
Q1 2025 revenue of $6.23 billion vs. $5.03 billion in Q1 2024
Net income attributable to common stock of $144.3 million, vs. $118.4 million a year earlier; diluted EPS $0.96 vs. $0.79
Full-year 2025 diluted EPS now expected at $6.90 to $7.50; revenue $26.7 billion to $27.2 billion
Repurchased about $135 million of common stock from January 1 through April 29, 2025; $365.1 million authorization remaining
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