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).
Chipotle named Jason Kidd, formerly Taco Bell's chief operating officer, as its chief operating officer effective May 19, 2025, overseeing its nearly 3,800 restaurants and reporting to CEO Scott Boatwright. President and Chief Strategy Officer Jack Hartung will step down as an executive officer on June 1, 2025, and remain as a senior advisor until his retirement in early March 2026. The filing reflects a senior leadership change in operations and strategy, with no financial results disclosed.
Jason Kidd, age 50, joins as COO effective May 19, 2025, with a $675,000 base salary and a $150,000 cash signing bonus
Kidd's new-hire equity awards have a combined grant date value of approximately $3,000,000
Jack Hartung's executive role ends June 1, 2025; his senior advisor base salary will be $200,000
Curt Garner adds supply chain oversight and Chris Brandt leads menu and ingredient processes
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
Gores Holdings X, a blank check company, closed its initial public offering on May 5, 2025, selling 35,880,000 units at $10.00 each for gross proceeds of $358,800,000, including the full exercise of the underwriter's over-allotment option. The company says the proceeds were placed in a U.S.-based trust account and are generally not released to the company until a business combination, a shareholder-vote redemption, or a failure to complete a business combination within the Completion Window, apart from limited interest withdrawals. The filing also reports a $2,250,000 private placement of shares to the sponsor and the appointment of three new directors.
IPO of 35,880,000 units at $10.00 per unit, including 4,680,000 units from full over-allotment exercise, closed May 5, 2025
$358,800,000 placed in a trust account maintained by Computershare Trust Company, N.A., as trustee
Sponsor Gores Sponsor X LLC bought 225,000 private placement shares at $10.00 each, for approximately $2,250,000
Units began trading on Nasdaq as GTENU on May 2, 2025; Randall Bort, Nancy Tellem and Elizabeth Marcellino were appointed directors on May 1, 2025
Ovintiv reported a first-quarter 2025 net loss of $159 million, or $(0.61) per diluted share, compared with net earnings of $338 million a year earlier. The loss included a non-cash ceiling test impairment of $557 million after tax, while revenue rose slightly to $2,377 million and the company kept its full-year 2025 production and capital guidance. The filing also declared a $0.30 quarterly dividend.
Q1 2025 net loss of $159 million, or $(0.61) per diluted share, versus net earnings of $338 million in Q1 2024
Non-cash ceiling test impairment of $557 million after tax; pre-tax impairments were $730 million
Cash from operating activities of $873 million and Non-GAAP Free Cash Flow of $387 million
Quarterly dividend of $0.30 per share payable June 30, 2025, to holders of record June 13, 2025
Corpay reported first-quarter 2025 results on May 6, 2025, with revenue up 8% to $1,005.7 million and GAAP diluted earnings per share up 9% to $3.40, and it maintained its original 2025 outlook. The same day, it announced a definitive agreement with TPG to take AvidXchange private, with Corpay planning to invest $500 million alongside TPG. The acquisition commitment is significant for shareholders, and the filing describes the deal as a proposed investment.
Q1 2025 revenue was $1,005.7 million, up 8% from $935.3 million; net income attributable to Corpay was $243.2 million, up 6%.
GAAP diluted EPS was $3.40, up 9%; adjusted diluted EPS was $4.51, up 10%.
Full-year 2025 guidance was maintained, including total revenues of $4,380 million to $4,460 million and adjusted EPS of $20.80 to $21.20.
Corpay plans to invest $500 million, alongside TPG, to acquire AvidXchange Holdings (NASDAQ: AVDX).
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.
Fidelity National Information Services entered a Term Loan Credit Agreement on May 1, 2025, allowing it to borrow up to $8 billion of senior unsecured term loans with Goldman Sachs Bank USA as administrative agent. The loans would fund the purchase of the Issuer Solutions Business and related fees, replacing a $8 billion bridge facility that was terminated. The filing does not report any borrowing yet, so the actual debt load is undetermined until the company draws on the facility.
Up to $8,000,000,000 in 364-day senior unsecured term loans, available to fund the Issuer Solutions Business acquisition and related costs
Interest set at Term SOFR plus 0.10% and a 1.00% to 1.625% margin, or a base rate plus 0.00% to 0.625%, depending on the company's debt rating; margin rises 0.25% each quarter loans remain outstanding
Requires a maximum leverage ratio of 3.75 to 1.00, which may increase after certain acquisitions close
Replaces the $8,000,000,000 bridge commitment dated April 17, 2025, which was reduced to $0 and terminated
IFF reported a first-quarter 2025 GAAP loss before taxes of $994 million and a diluted loss of $3.98 per share, driven by a $1.15 billion goodwill impairment in Food Ingredients. Reported net sales fell 2% to $2.84 billion, while adjusted EPS excluding amortization was $1.20 and the company kept its full-year 2025 guidance ranges unchanged.
Reported net sales were $2.84 billion, down 2% from the prior-year period; comparable currency neutral sales rose 3%.
Reported diluted EPS was $(3.98), versus $0.23 a year earlier; adjusted EPS excluding amortization was $1.20, versus $1.13 in the prior-year period.
Adjusted operating EBITDA was $578 million; the company maintained full-year 2025 sales guidance of $10.6 billion to $10.9 billion.
The Pharma Solutions divestiture closed on May 1, 2025, earlier than anticipated.
Devon Energy reported first-quarter 2025 net earnings of $494 million, or $0.77 per diluted share, down from $596 million, or $0.94, a year earlier, while core earnings were $779 million, or $1.21 per share. The company raised its full-year 2025 oil production forecast and cut its full-year capital guidance by $100 million to $3.7 billion to $3.9 billion, which may matter to shareholders because it shows output above plan alongside lower spending.
Net earnings were $494 million ($0.77 per diluted share) versus $596 million ($0.94) in Q1 2024, and $639 million ($0.98) in Q4 2024; a $254 million asset impairment from divesting two corporate real estate assets weighed on results.
Oil production averaged 388,000 barrels per day, exceeding guidance by 5,000 barrels per day; full-year 2025 oil forecast raised to 382,000 to 388,000 barrels per day.
Full-year 2025 capital guidance cut to $3.7 billion to $3.9 billion from about $3.9 billion; first-quarter capital spending was $964 million, 5% below midpoint guidance.
Devon agreed on May 5, 2025 to sell its equity interest in the Matterhorn Pipeline for approximately $375 million, expected to close in the second quarter of 2025; the company declared a $0.24 per share quarterly dividend payable June 30, 2
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.
Qualys reported first-quarter 2025 revenue of $159.9 million, up 10% from a year earlier, and GAAP net income of $47.5 million, or $1.29 per diluted share, up from $1.05. The company raised its full-year 2025 revenue and per-share earnings guidance, which is a positive signal for shareholders, though the filing notes that reconciling items are likely to significantly affect GAAP earnings.
Q1 2025 revenue was $159.9 million, up 10% from $145.8 million in Q1 2024.
GAAP diluted EPS was $1.29 vs. $1.05 a year earlier; non-GAAP diluted EPS was $1.67 vs. $1.45.
Full-year 2025 revenue guidance is $648.0 million to $657.0 million, up from a prior range of $645.0 million to $657.0 million.
Full-year 2025 GAAP EPS guidance is $4.27 to $4.57, up from $3.62 to $4.02; non-GAAP EPS guidance is $6.00 to $6.30, up from $5.50 to $5.90.
MasterBrand reported first quarter 2025 results for the period ended March 30, 2025. Net sales rose 3% to $660.3 million, helped by the Supreme acquisition, but net income fell 65% to $13.3 million and diluted earnings per share were $0.10, compared with $0.29 a year earlier. The company revised its 2025 outlook, citing weaker end-market demand and the net impact of enacted tariffs, which matters to shareholders because profit is falling while the guidance points to lower full-year results.
Net sales rose 3% to $660.3 million, including 10% growth from Supreme, while base business volume fell 9%.
Net income fell to $13.3 million from $37.5 million; adjusted diluted EPS was $0.18 versus $0.31.
2025 guidance: net sales down a low single-digit percentage; adjusted EBITDA of $315 million to $365 million; adjusted diluted EPS of $1.03 to $1.32.
Free cash flow was negative $41.2 million for the quarter, and the company repurchased about $11.4 million of stock.
Teradata reported first-quarter 2025 results with total revenue down 10% to $418 million from $465 million, while GAAP diluted EPS rose to $0.45 from $0.20. The company increased its full-year 2025 GAAP diluted EPS outlook to $1.06 to $1.16 and kept its non-GAAP EPS outlook of $2.15 to $2.25, while total revenue guidance for 2025 was updated and second-quarter total revenue is expected to fall 7% to 9%.
Total revenue was $418 million, down 10% as reported and 8% in constant currency, versus $465 million a year earlier.
GAAP diluted EPS was $0.45 versus $0.20; non-GAAP diluted EPS was $0.66 versus $0.57.
Public cloud ARR rose 15% to $606 million, while total ARR fell 3% to $1.442 billion.
Full-year 2025 GAAP diluted EPS outlook was raised to $1.06 to $1.16; Q2 2025 total revenue is expected to decline 7% to 9% year over year in constant currency.
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
Grocery Outlet reported first quarter fiscal 2025 results, with net sales up 8.5% to $1.13 billion but a net loss of $23.3 million, compared with a $1.0 million loss a year earlier. The company cut its fiscal 2025 comparable store sales guidance to 1.0% to 2.0% from 2.0% to 3.0%, and it also disclosed the upcoming departures of two executive officers.
Net sales rose 8.5% to $1.13 billion; comparable store sales rose 0.3%.
Net loss was $23.3 million, or $(0.24) per diluted share, including $33.9 million in restructuring charges; adjusted earnings per share were $0.13 versus $0.09 a year earlier.
Fiscal 2025 comparable store sales guidance was cut to 1.0% to 2.0%; net sales, adjusted EBITDA and adjusted earnings per share guidance were maintained.
Ramesh Chikkala, EVP and Chief Operations Officer, is expected to depart on or around June 6, 2025; Pamela B. Burke, EVP and Chief Stores Officer, on or around October 6, 2025.
Kulicke & Soffa reported fiscal second-quarter 2025 results for the period ended March 29, 2025. Net revenue fell 5.9% year over year to $162.0 million, and GAAP net loss was $84.5 million, or $(1.59) per diluted share, driven largely by about $86.6 million in pre-tax charges tied to its planned cessation of the Electronics Assembly equipment business. The company expects third-quarter revenue of about $145 million, plus or minus $10 million, and a GAAP diluted loss of about $(0.09) per share.
Net revenue of $162.0 million, down 5.9% from $172.1 million in the prior-year quarter; GAAP net loss of $84.5 million narrowed from $102.7 million a year earlier.
Non-GAAP net loss of $27.9 million, or $(0.52) per diluted share, versus GAAP $(1.59).
Pre-tax charges of about $86.6 million related to the intended cessation of the Electronics Assembly equipment business, announced March 31, 2025.
Third-quarter fiscal 2025 outlook: net revenue about $145 million plus or minus $10 million; GAAP diluted EPS about $(0.09); non-GAAP diluted EPS about $0.05.
Corsair reported first-quarter 2025 net revenue of $369.8 million, up from $337.3 million a year earlier, and a net loss attributable to common shareholders of $10.1 million, or $0.10 per diluted share, compared with a loss of $0.12 per share a year earlier. The company did not reaffirm its full-year 2025 guidance because of uncertainty from newly announced tariffs, though it said it remains on track to meet the February 12, 2025 guidance if current conditions hold.
Net revenue was $369.8 million versus $337.3 million in Q1 2024; Gaming Components and Systems segment revenue was $257.8 million.
Adjusted EBITDA was $22.6 million versus $18.0 million; total gross margin was 27.7% versus 25.7%.
Full-year 2025 guidance was not reaffirmed; Corsair intends to provide an updated outlook later this year.
Cash and restricted cash was $102.5 million as of March 31, 2025.
PTC Therapeutics reported first quarter 2025 results, with total revenue of $1,176.1 million and net income of $866.6 million, compared with a net loss of $91.6 million a year earlier. The results were driven by a $986.2 million license and collaboration payment from Novartis for PTC518, while net product and royalty revenue fell to $189.9 million from $208.8 million. The company narrowed its full-year 2025 revenue guidance to $650 million to $800 million.
Total revenue was $1,176.1 million, versus $210.1 million in the first quarter of 2024, including $986.2 million tied to the PTC518 license with Novartis, which closed in January 2025.
Net product and royalty revenue was $189.9 million, down from $208.8 million a year earlier.
Net income was $866.6 million, or $10.04 per diluted share, compared with a net loss of $91.6 million, or $1.20 per share, in the first quarter of 2024.
Full-year 2025 revenue guidance was narrowed to $650 million to $800 million; cash and marketable securities were $2,027.2 million as of March 31, 2025.
Allegiant Travel reported first-quarter 2025 revenue of $699.1 million, up 6.5% from a year earlier, and GAAP diluted earnings of $1.73 per share versus a loss of $0.07 per share in the prior-year quarter. The company withdrew its full-year 2025 guidance, citing difficulty predicting near-term demand amid economic uncertainty, and said Tyler Hollingsworth became chief operating officer effective May 1, 2025.
Q1 2025 total operating revenue $699.1 million, up 6.5% year over year; GAAP diluted EPS $1.73 vs. loss of $0.07 a year earlier
Adjusted diluted EPS $1.81 vs. $0.57 in Q1 2024
Full-year 2025 guidance withdrawn; Q2 2025 adjusted airline-only EPS guidance of $0.50 to $1.50 remains in the filing
Tyler Hollingsworth designated chief operating officer as of May 1, 2025; he had served as interim COO since March 2025
Cirrus Logic reported fourth-quarter fiscal 2025 revenue of $424.5 million and full-year revenue of $1.90 billion, up six percent, with full-year GAAP diluted EPS of $6.00, a record. The company guided first-quarter fiscal 2026 revenue to $330 million to $390 million, down 15 percent sequentially at the midpoint, and disclosed a $500 million buyback authorization approved in March 2025.
Q4 FY25 revenue was $424.5 million, down 24 percent from Q3 FY25 and up 14 percent from Q4 FY24; GAAP diluted EPS was $1.31.
FY25 GAAP diluted EPS was $6.00 versus $4.90 in FY24; non-GAAP diluted EPS was $7.54 versus $6.59.
Q1 FY26 revenue is expected between $330 million and $390 million, with GAAP gross margin of 51 percent to 53 percent.
The Board authorized up to $500 million in share repurchases in March 2025; $54 million remained under the July 2022 authorization at fiscal year-end, and $25 million was used after quarter-end under a 10b5-1 plan.
Heritage Financial Corporation said Bryan D. McDonald became its President and CEO on May 6, 2025, completing the CEO succession plan, and joined the Board of Directors. Jeffrey J. Deuel retired as CEO the same day and will remain a non-officer employee until March 31, 2027. The change marks a planned leadership transition, and shareholders also elected nine directors and approved the executive pay advisory vote at the May 5, 2025 annual meeting.
Jeffrey J. Deuel retired as CEO effective May 6, 2025 and will serve as a non-officer employee until March 31, 2027.
Bryan D. McDonald, age 53, became President and CEO effective May 6, 2025, and joined the Board; he had been President and CEO of Heritage Bank since July 1, 2024.
McDonald's employment agreement provides a $650,000 annual base salary and a 50% short-term bonus target, with an initial term through June 30, 2028.
At the May 5, 2025 annual meeting, shareholders approved the executive compensation advisory vote with 25,108,341 votes for and 517,307 against.
XPEL reported first-quarter 2025 revenue of $103.8 million, up 15.2%, and net income of $8.6 million, up 28.8%, with EPS of $0.31 versus $0.24. The board authorized a stock repurchase of up to $50 million, and the company expects second-quarter 2025 revenue of approximately $117 million to $119 million. The results are preliminary and unaudited until the Form 10-Q, expected on or before May 9, 2025.
Revenue rose 15.2% to $103.8 million; net income rose 28.8% to $8.6 million
Diluted EPS was $0.31 versus $0.24 in the first quarter of 2024
Board authorized repurchases of up to $50 million of common stock
Company expects second-quarter 2025 revenue of approximately $117 million to $119 million
Knife River reported a first-quarter 2025 revenue increase of 7% to $353.5 million, but its net loss widened to $68.7 million from $47.6 million a year earlier, and adjusted EBITDA was a loss of $38.0 million. The company closed its acquisition of Strata Corporation, funded partly by a new $500 million Term Loan B, and updated full-year 2025 guidance to revenue of $3.25 billion to $3.45 billion and adjusted EBITDA of $530 million to $580 million.
Q1 2025 revenue was $353.5 million, up 7% from $329.6 million; net loss per share was $1.21 versus $0.84 a year earlier.
Adjusted EBITDA was a loss of $38.0 million, compared with a loss of $17.7 million in Q1 2024; the company described the seasonal first-quarter loss as in line with its expectations.
Full-year 2025 guidance: revenue of $3.25 billion to $3.45 billion and adjusted EBITDA of $530 million to $580 million; the company expects $45 million of EBITDA from Strata for the year.
Peabody reported first-quarter 2025 net income attributable to common stockholders of $34.4 million, or $0.27 per diluted share, down from $39.6 million, or $0.29, a year earlier, on revenue of $937.0 million versus $983.6 million. The company also said it notified Anglo American of a Material Adverse Change tied to the inactive Moranbah North Mine, and it may terminate the planned steelmaking coal acquisition if the issue is not resolved in the agreed timeframe.
Q1 2025 net income attributable to common stockholders was $34.4 million, or $0.27 per diluted share, versus $39.6 million, or $0.29, in Q1 2024.
Adjusted EBITDA was $144.0 million versus $160.5 million a year earlier; revenue was $937.0 million versus $983.6 million.
Peabody notified Anglo American of a Material Adverse Change on the planned steelmaking coal acquisition, related to the Moranbah North Mine, which has been inactive since a gas ignition event on March 31, 2025.
Board declared a quarterly dividend of $0.075 per share, payable June 4, 2025 to holders of record on May 15, 2025.
Sunstone Hotel Investors reported first-quarter 2025 net income of $5.3 million, down from $13.0 million a year earlier, while Adjusted FFO per diluted share rose 16.7% to $0.21. The company lowered its full-year 2025 outlook, with net income now expected at $33 million to $58 million, down from $46 million to $71 million, citing recent volatility in operating trends. Shareholders also elected eight directors at the May 1, 2025 annual meeting.
Net income was $5.3 million in Q1 2025 versus $13.0 million in Q1 2024; income per diluted share was $0.01 versus $0.05.
Adjusted FFO attributable to common stockholders per diluted share rose 16.7% to $0.21; total portfolio RevPAR rose 2.2% to $221.63.
2025 net income guidance was cut to $33 million to $58 million from $46 million to $71 million.
2025 Adjusted FFO per diluted share guidance was lowered to $0.82 to $0.94 from $0.86 to $0.98.
Axcelis reported first-quarter 2025 revenue of $192.6 million, down from $252.4 million a year earlier, and GAAP diluted earnings per share of $0.88, down from $1.57. It also guided to second-quarter revenue of approximately $185 million and GAAP diluted EPS of approximately $0.57, so shareholders face lower reported sales and profit in both periods.
Q1 2025 revenue was $192.6 million vs. $252.4 million in Q1 2024
Q1 2025 net income was $28.6 million vs. $51.6 million; GAAP diluted EPS $0.88 vs. $1.57
Non-GAAP diluted EPS was $1.04 vs. $1.68 a year earlier
Q2 2025 outlook: revenue of approximately $185 million, GAAP diluted EPS of approximately $0.57, non-GAAP EPS of approximately $0.73
DoorDash reported first-quarter 2025 results, with revenue up 21% year over year to $3.0 billion and GAAP net income attributable to common stockholders of $193 million, compared with a loss of $23 million a year earlier. The company also agreed to acquire SevenRooms for about $1.2 billion in cash and made a recommended final offer for Deliveroo, which it expects to close in Q4 2025, subject to approvals, so the deals could shape shareholder dilution and spending in the coming quarters.
Total Orders rose 18% to 732 million and Marketplace GOV rose 20% to $23.1 billion in Q1 2025.
Q2 2025 outlook: Marketplace GOV of $23.3 billion to $23.7 billion and Adjusted EBITDA of $600 million to $650 million.
SevenRooms acquisition for approximately $1.2 billion in an all-cash deal, expected to close in the second half of 2025.
Deliveroo offer at 180 pence per share, equal to an equity value of £2.9 billion, expected to close in Q4 2025.
DoorDash and Deliveroo boards agreed terms for a recommended cash acquisition of Deliveroo by DoorDash, to be implemented through a UK court-sanctioned scheme of arrangement. DoorDash has arranged a bridge loan of up to $2.85 billion to partly fund the cash consideration, and the deal is expected to close in the fourth quarter of 2025 subject to conditions.
Deliveroo shareholders to receive 180 pence in cash per share; equity value approximately £2.9 billion and enterprise value approximately £2.4 billion
Bridge Term Loan of up to $2.85 billion from lenders led by JPMorgan Chase Bank, N.A., with loans maturing 364 days after closing
Expected completion in Q4 2025; Scheme must become effective no later than May 6, 2026
Shareholder and director irrevocable undertakings cover approximately 8.967% and 6.462% of Deliveroo's outstanding shares respectively
AdaptHealth reported first-quarter 2025 net revenue of $777.9 million, down 1.8% from a year earlier, and a net loss attributable to the company of $7.2 million, compared with a $2.1 million loss in the prior-year quarter. Adjusted EBITDA fell 19.3% to $127.9 million. The company also lowered its fiscal 2025 net revenue and adjusted EBITDA guidance to account for the disposition of certain incontinence assets, reducing its outlook for shareholders.
Net revenue was $777.9 million, down from $792.5 million in the first quarter of 2024, a decrease of 1.8%.
Net loss attributable to AdaptHealth Corp. was $7.2 million, compared with a net loss of $2.1 million a year earlier.
Fiscal 2025 net revenue guidance was lowered to $3.18 billion to $3.32 billion from $3.22 billion to $3.36 billion; adjusted EBITDA guidance was lowered to $665 million to $705 million from $670 million to $710 million.
Free cash flow guidance of $180 million to $220 million was unchanged; first-quarter cash flow from operations was $95.5 million.
IQVIA reported first-quarter 2025 results on May 6, 2025, with revenue up 2.5% to $3,829 million, while GAAP net income fell to $249 million from $288 million a year earlier. The company raised its full-year 2025 revenue guidance by $275 million on more favorable foreign currency rates and reaffirmed its Adjusted EBITDA and Adjusted Diluted EPS guidance, so shareholders see higher sales and adjusted profit alongside lower GAAP earnings.
Revenue of $3,829 million, up 2.5% reported and 3.5% at constant currency from $3,737 million
GAAP diluted EPS of $1.40 versus $1.56, and GAAP net income of $249 million versus $288 million
Adjusted Diluted EPS of $2.70, up 6.3%, and Adjusted EBITDA of $883 million, up 2.4%
Full-year 2025 revenue guidance raised to $16,000 million to $16,400 million; profit guidance reaffirmed
ADM reported first quarter 2025 diluted EPS of $0.61, down 57% from the prior year quarter, and adjusted EPS of $0.70, down 52%. The company reaffirmed its 2025 adjusted EPS guidance of $4.00 to $4.75 but said it now expects results at the lower end of that range.
Net earnings attributable to ADM were $295 million, versus $729 million a year earlier; adjusted net earnings were $338 million.
Total segment operating profit was $747 million, down 38%; Ag Services and Oilseeds profit fell 52% to $412 million.
Cash flows used in operating activities were $(342) million in the quarter, versus cash provided of $700 million a year earlier.
2025 adjusted EPS guidance of $4.00 to $4.75 was affirmed, with results now expected at the lower end of the range.
Zoetis reported first-quarter 2025 revenue of $2.2 billion, up 1% on a reported basis and 9% on an organic operational basis, and net income of $631 million, or $1.41 per diluted share. The company raised its full-year 2025 revenue and adjusted diluted EPS guidance, but lowered its organic operational growth outlook for adjusted net income to 5% to 7% due to enacted tariffs.
Q1 2025 net income was $631 million, or $1.41 per diluted share, up 5% and 8% on a reported basis; adjusted diluted EPS was $1.48.
Full-year 2025 revenue guidance raised to $9.425 billion to $9.575 billion from $9.225 billion to $9.375 billion, reflecting foreign exchange.
Adjusted diluted EPS guidance raised to $6.20 to $6.30 from $6.00 to $6.10, reflecting foreign exchange and enacted tariffs.
Organic operational growth guidance for adjusted net income cut to 5% to 7% from 6% to 8%, reflecting enacted tariffs.
DigitalOcean reported first quarter 2025 revenue of $211 million, up 14% year-over-year, and net income of $38 million, up 170%. It also entered a new five-year credit agreement on May 5, 2025, that replaces its 2022 credit facility and provides a $300 million revolver and a $500 million delayed draw term loan, which may be used only to refinance its 0% convertible notes due 2026.
Q1 2025 revenue was $211 million, up 14% year-over-year; diluted net income per share was $0.39.
Adjusted free cash flow was negative $821 thousand, compared with $34 million in the first quarter of 2024.
Q2 2025 revenue guidance is $215.5 million to $217.5 million; full-year 2025 revenue outlook of $870 million to $890 million was reiterated.
The credit agreement matures on the fifth anniversary of May 5, 2025, with a springing maturity tied to the 2026 convertible notes.
J&J Snack Foods reported fiscal second-quarter 2025 results for the quarter ended March 29, 2025. Net sales fell 1.0% to $356.1 million, and diluted earnings per share dropped 64% to $0.25, as weak theater traffic, the end of a churro limited-time offer and cost inflation weighed on results. Management said it expects earnings to improve in the second half, but the filing gives no numeric outlook.
Net sales were $356.1 million, down 1.0% from $359.7 million; gross margin fell to 26.9% from 30.1%
Net earnings were $4.8 million, or $0.25 per diluted share, versus $13.3 million, or $0.69, a year earlier
Adjusted earnings per diluted share were $0.35, versus $0.84 a year earlier
Management expects earnings to improve in the second half, citing a projected box office rebound of 30% or more in the fiscal third quarter; the company repurchased about 39 thousand shares for about $5.0 million
Energizer reported fiscal second-quarter 2025 results, with net sales of $662.9 million, essentially flat from $663.3 million a year earlier, and net earnings of $28.3 million, or $0.39 per share, down from $32.4 million, or $0.45 per share. The company tempered its fiscal 2025 outlook, citing a more cautious consumer, and now expects Adjusted EPS of $3.30 to $3.50, which means weaker profit expectations for shareholders.
Net sales were $662.9 million, down 0.1% from the prior year, with organic growth of 1.4% offset by a 1.7% currency headwind.
Adjusted EPS was $0.67 versus $0.72 a year earlier, and Adjusted EBITDA was $140.3 million versus $142.5 million.
Fiscal 2025 outlook now calls for organic net sales of flat to up 2%, Adjusted EBITDA of $610 million to $630 million, and Adjusted EPS of $3.30 to $3.50.
Third-quarter Adjusted EPS is expected to be $0.55 to $0.65, and the APS acquisition was completed on May 2, 2025.
Lear reported first-quarter 2025 sales of $5.6 billion, down from $6.0 billion a year earlier, and net income attributable to Lear of $81 million, down from $110 million. The company is not reaffirming its 2025 financial outlook because of uncertainty in industry production caused by the evolving tariff environment, and it intends to provide updates as visibility improves.
Sales of $5.6 billion vs. $6.0 billion in Q1 2024, down 7% year over year
Earnings per share of $1.49 vs. $1.90; adjusted earnings per share of $3.12 vs. $3.18
2025 financial outlook not reaffirmed; company remains confident in 2025 operating performance commitments highlighted in February 2025
Repurchased $25 million of shares and paid $43 million in dividends in Q1 2025
Pediatrix Medical Group reported first-quarter 2025 net income of $20.7 million, or $0.24 per diluted share, up from $4.0 million, or $0.05, a year earlier. Net revenue fell to $458.4 million from $495.1 million, mainly due to practice dispositions, and the company raised its full-year 2025 Adjusted EBITDA outlook to $220 million to $240 million from $215 million to $235 million.
Q1 2025 net income of $20.7 million ($0.24 per diluted share) vs. $4.0 million ($0.05) in Q1 2024
Q1 2025 net revenue of $458.4 million vs. $495.1 million, reflecting practice dispositions; same-unit net revenue grew 6.2 percent
Q1 2025 Adjusted EBITDA of $49.2 million vs. $37.2 million; Adjusted EPS of $0.33 vs. $0.20
Full-year 2025 Adjusted EBITDA outlook raised to $220 million to $240 million from $215 million to $235 million
Omnicell reported first-quarter 2025 total revenue of $270 million, up 10% from a year earlier, and a GAAP net loss of $7 million, narrower than the $16 million loss a year earlier. The company lowered its full-year 2025 non-GAAP EBITDA and non-GAAP earnings per share guidance, citing higher potential supply chain costs tied to tariffs, which matters to shareholders because the profit outlook is now lower.
Q1 2025 total revenue was $270 million, up $24 million or 10% year over year, and above previously issued Q1 guidance.
Q1 2025 non-GAAP net income was $12 million, or $0.26 per diluted share, compared with $1 million, or $0.03, a year earlier.
Full-year 2025 non-GAAP EBITDA guidance is now $100 million to $145 million, and non-GAAP EPS guidance is $1.00 to $1.65, both reduced.
Q1 2025 cash flow from operations was $26 million, compared with $50 million in Q1 2024.
Marathon Petroleum Corp. (MPC) reported a first-quarter 2025 net loss attributable to MPC of $74 million, or $0.24 per diluted share, compared with net income of $937 million, or $2.58 per diluted share, a year earlier. The company attributed the loss mainly to its second-largest planned maintenance quarter in company history, and adjusted EBITDA fell to $2.0 billion from $3.3 billion, which weighs on earnings for shareholders even as the company returned $1.3 billion in capital during the quarter.
Net loss attributable to MPC of $(74) million, or $(0.24) per diluted share, versus net income of $937 million, or $2.58 per diluted share, in Q1 2024.
Adjusted EBITDA of $2.0 billion, down from $3.3 billion; Refining & Marketing segment adjusted EBITDA fell to $489 million from $1.986 billion, driven mainly by lower market crack spreads.
Midstream segment adjusted EBITDA rose to $1.7 billion from $1.6 billion.
Returned about $1.3 billion to shareholders in Q1, including $1.1 billion of share repurchases; $6.7 billion remained under share repurchase authorizations as of March 31, 2025.
Ingredion reported first-quarter 2025 results with net sales down 4% to $1,813 million, while reported operating income rose 30% to $276 million. Reported diluted EPS fell to $3.00 from $3.23, but adjusted EPS rose to $2.97 from $2.08, and the company raised its full-year 2025 reported and adjusted EPS ranges.
Net sales fell 4% to $1,813 million; reported operating income rose 30% to $276 million
Reported diluted EPS was $3.00 versus $3.23 a year earlier; adjusted diluted EPS was $2.97 versus $2.08
Full-year 2025 reported EPS guidance is $10.93 to $11.63; adjusted EPS guidance is $10.90 to $11.60
Second-quarter 2025 operating income is expected to be flat to down low single-digits
Waters reported first-quarter 2025 sales of $662 million, up 4% as reported and 7% in constant currency, and GAAP diluted EPS of $2.03 versus $1.72 a year earlier. The company raised its full-year 2025 non-GAAP EPS guidance to $12.75 to $13.05 and its constant currency sales growth guidance to 5.0% to 7.0%, which matters to shareholders because it signals higher expected earnings for the year.
Q1 2025 sales were $662 million, compared with $637 million in Q1 2024.
GAAP diluted EPS was $2.03 versus $1.72; non-GAAP EPS was $2.25, up 2% from $2.21.
Full-year 2025 non-GAAP EPS guidance raised to $12.75 to $13.05; reported sales growth guidance raised to 4.0% to 6.0%.
Second-quarter 2025 non-GAAP EPS is expected at $2.88 to $2.98.
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