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).
Post Holdings reported fiscal second-quarter 2025 results for the period ended March 31, 2025. Net sales fell 2.3% to $1,952.1 million and diluted earnings per share fell to $1.03 from $1.48, while Adjusted EBITDA rose 0.4% to $346.5 million. The company raised its fiscal 2025 Adjusted EBITDA guidance to $1,430-$1,470 million, so shareholders get weaker reported sales and profit alongside a higher profit outlook.
Q2 net sales were $1,952.1 million, down 2.3% from $1,999.0 million a year earlier
Net earnings were $62.6 million, down 35.6%; diluted EPS was $1.03 versus $1.48
Adjusted EBITDA was $346.5 million, up 0.4% from $345.2 million
Fiscal 2025 Adjusted EBITDA guidance raised to $1,430-$1,470 million from $1,420-$1,460 million
HCI Group reported first quarter 2025 pre-tax income of $100.3 million and net income after noncontrolling interests of $69.7 million, up from $47.6 million a year earlier. The board is pursuing a potential tax-free spin-off of its Exzeo Group unit to existing HCI shareholders, targeted for completion by the end of 2025, subject to customary conditions.
Diluted EPS was $5.35 in Q1 2025 versus $3.81 in Q1 2024
Gross premiums earned rose 17.0% to $300.4 million, driven mainly by policies assumed from Citizens Property Insurance Corporation
Losses and loss adjustment expenses fell to $59.3 million from $79.9 million; gross loss ratio was 19.7% versus 31.1%
Potential Exzeo spin-off targeted for completion by the end of 2025; IRS tax-free treatment is not assured
Illumina reported first-quarter 2025 results, with core Illumina revenue of $1.04 billion, down 1% from a year earlier, and GAAP diluted EPS of $0.82 versus a loss of $0.79 in the prior-year period. The company lowered its full-year outlook, now expecting non-GAAP diluted EPS of $4.20-$4.30, down from about $4.50 in March, mainly due to tariffs. For shareholders, the guidance cut lowers expected earnings for 2025 even though the quarter's GAAP profit improved.
Core Illumina Q1 2025 revenue was $1.04 billion, down 1% from Q1 2024 (flat on a constant currency basis).
GAAP diluted EPS was $0.82 versus a loss of $0.79 a year earlier; non-GAAP diluted EPS was $0.97.
2025 non-GAAP diluted EPS guidance is $4.20-$4.30, down from about $4.50 in March, with $85 million in tariff-related costs cited.
Core Illumina revenue is now expected to decline 1% to 3% on a constant currency basis in 2025, down from low single digit growth previously.
Progyny reported first quarter 2025 revenue of $324.0 million, up 16.5% from a year earlier, and raised its full year 2025 outlook, projecting revenue of $1.185 billion to $1.235 billion. GAAP net income fell to $15.1 million from $16.9 million, while adjusted earnings per diluted share rose to $0.48 from $0.39, so shareholders get a mixed profit picture alongside stronger sales and guidance.
Q1 2025 revenue was $324.0 million, up 16.5%; excluding a large client that did not renew, revenue rose 19%
Net income was $15.1 million, or $0.17 per diluted share, versus $16.9 million, or $0.17, a year earlier, due mainly to a higher tax provision
Adjusted EBITDA rose 15% to $57.8 million; operating cash flow was $49.8 million versus $25.7 million
Full year 2025 guidance: revenue $1.185 billion to $1.235 billion, adjusted EBITDA $190.0 million to $203.0 million; Q2 2025 revenue projected at $310.0 million to $325.0 million
PVH Corp. said David Savman, its Head of Global Operations and Chief Supply Chain Officer, has been appointed Global President of Calvin Klein, succeeding Eva Serrano, who is leaving the company. Serrano will serve as an advisor through December 31, 2025 to support the transition, and Savman will keep his supply chain and operations roles until a successor is named.
David Savman appointed Global President, Calvin Klein, succeeding Eva Serrano
Serrano serves in an advisory capacity through December 31, 2025
Savman continues as Chief Supply Chain Officer and Head of Global Operations until a successor is named
Mattel appointed Paul Ruh as chief financial officer effective May 19, 2025, succeeding Anthony DiSilvestro, who announced his retirement in January. DiSilvestro will advise the company through August 15, 2025, to support the transition. Ruh previously served as CFO of Kenvue Inc. since May 2023 and will oversee Mattel's global finance organization and global technology organization.
Paul Ruh, age 58, becomes CFO effective May 19, 2025, reporting to Chairman and CEO Ynon Kreiz
Ruh's offer includes a $950,000 base salary, a 2025 target bonus of 100% of base salary (maximum 200%), and a $3,800,000 new-hire make-whole stock grant
Ruh will receive a $100,000 signing bonus and a 2025 target annual stock grant value of $2,825,000
Anthony DiSilvestro will serve as an advisor through August 15, 2025
Adtalem Global Education Inc. (NYSE: ATGE) reported third-quarter fiscal 2025 revenue of $466.1 million, up 12.9%, and diluted EPS of $1.59 versus $0.93 a year earlier, and raised its fiscal 2025 guidance. The Board also authorized a new $150 million share repurchase program through May 2028. Note that the filing is from Adtalem, not Covista Inc. (CVSA) as the request header states.
Revenue of $466.1 million, up 12.9% year over year; net income of $60.8 million versus $36.8 million
Adjusted EPS of $1.92 versus $1.50 a year earlier; diluted EPS of $1.59 versus $0.93
Fiscal 2025 guidance raised to revenue of $1,760 million to $1,775 million and adjusted EPS of $6.40 to $6.60
New $150 million share repurchase program through May 2028, following completion of a $300 million program on May 5, 2025
American Healthcare REIT reported first quarter 2025 total revenues of $540.6 million, up from $499.5 million a year earlier, and raised its full-year 2025 guidance. GAAP net loss attributable to controlling interest widened to $6.8 million, or $(0.04) per diluted share, from $3.9 million a year earlier, mainly due to a $21.7 million impairment of a real estate investment. Shareholders get higher expected 2025 normalized FFO, but a larger GAAP loss in the quarter.
Total revenues were $540.6 million for the quarter ended March 31, 2025, compared with $499.5 million for the same period in 2024.
Normalized FFO attributable to common stockholders was $0.38 per diluted share, up from $0.30 a year earlier.
Full-year 2025 normalized FFO guidance was raised to $1.58 to $1.64 per diluted share from $1.56 to $1.60; total portfolio same-store NOI growth guidance rose to 9.0% to 13.0% from 7.0% to 10.0%.
Net loss attributable to controlling interest was $(6.8) million, compared with $(3.9) million a year earlier, after a $21.7 million impairment of a real estate investment.
Globus Medical reported first-quarter 2025 net sales of $598.1 million, down 1.4% from a year earlier, while GAAP net income rose to $75.5 million from a loss of $7.1 million. The company cut its full-year 2025 non-GAAP diluted EPS guidance to $3.00 to $3.30 from $3.10 to $3.40, but reaffirmed its full-year revenue guidance of $2.80 to $2.90 billion. Shareholders get a mixed picture: profit improved, but sales declined and the earnings outlook was lowered.
Net sales were $598.1 million, down 1.4% (down 0.8% on a constant currency basis); U.S. sales rose 0.2% while international sales fell 7.7%.
GAAP diluted EPS was $0.54, compared with a loss of $0.05 a year earlier; non-GAAP diluted EPS was $0.68, up from $0.63.
Full-year 2025 non-GAAP diluted EPS guidance was lowered to $3.00 to $3.30 from $3.10 to $3.40; revenue guidance of $2.80 to $2.90 billion was reaffirmed.
The company paid off the remaining $450 million of debt assumed from the NuVasive merger and reported free cash flow of $141.2 million.
Coinbase reported first-quarter 2025 total revenue of $2.0 billion, down 10% from the prior quarter, and net income of $66 million, with results weighed down by $597 million in pre-tax losses on its crypto investment portfolio. The letter also announced an agreement to acquire Deribit for approximately $2.9 billion, paid in $700 million cash and 11 million shares, which shareholders should weigh against the lower quarterly profit.
Q1 total revenue was $2.0 billion, down 10% from Q4 2024; transaction revenue was $1.3 billion, down 19%
Net income was $66 million, compared with $1.29 billion in Q4 2024; Adjusted EBITDA was $930 million
Subscription and services revenue rose 9% to $698 million, driven mainly by stablecoin revenue
Agreement to acquire Sentillia B.V. (Deribit) for about $2.9 billion, expected to close by year-end, subject to regulatory approvals
TKO reported first quarter 2025 revenue of $1.27 billion, up 4%, and net income of $165.5 million, compared with a net loss of $234.5 million a year earlier, which included a $335.0 million legal settlement charge in the prior-year period. The company raised its full-year 2025 revenue and Adjusted EBITDA targets for UFC and WWE, excluding the acquired IMG, On Location and PBR businesses, and separately set combined targets that include those businesses.
Q1 2025 revenue was $1,268.8 million, up from $1,222.4 million; Adjusted EBITDA rose 23% to $417.4 million
Excluding the acquired businesses, 2025 revenue guidance rose to $3.005 billion to $3.075 billion from $2.930 billion to $3.000 billion
Including the acquired businesses, 2025 guidance is revenue of $4.490 billion to $4.560 billion and Adjusted EBITDA of $1.490 billion to $1.530 billion
Cash and cash equivalents were $470.9 million and gross debt was $2.776 billion as of March 31, 2025
HubSpot reported first-quarter 2025 revenue of $714.1 million, up 16% from a year earlier, while its GAAP net result swung to a $21.8 million loss from $5.9 million of net income. The company also issued revenue and non-GAAP profit guidance for the second quarter and full year, and its board authorized a $500.0 million share repurchase program.
Q1 2025 total revenue $714.1 million, up 16% as reported; GAAP net loss $21.8 million ($0.42 per share) versus net income of $5.9 million ($0.12 per share) in Q1 2024
Non-GAAP diluted net income per share $1.78, compared with $1.68 in Q1 2024
Guidance: Q2 2025 revenue $738.0 million to $740.0 million; full-year 2025 revenue $3.036 billion to $3.044 billion and non-GAAP diluted EPS $9.29 to $9.37
Board authorized up to $500.0 million in share repurchases on May 6, 2025 over up to 12 months; Brian Halligan resigned as Executive Chairperson effective May 8, 2025 and Lorrie Harrington became Chairperson
MGM Resorts entered into a new employment agreement with CEO William Hornbuckle on May 8, 2025, replacing his prior agreement that was set to end August 31, 2026. The new term runs to December 31, 2028, and the filing says the company wants him to keep leading the company for the long term.
New term runs until December 31, 2028, with minimum base salary of $2,000,000 per year
Annual target bonus of 250% of base salary; amounts above 150% of target paid in deferred restricted stock units
Expected annual equity grants of $10,000,000 for 2025 through 2028, plus a one-time cash signing bonus of $8,000,000
Solventum reported first-quarter 2025 sales up 2.6% to $2.1 billion, with organic sales up 4.3%. Profit fell sharply: net income was $137 million versus $237 million a year earlier, and GAAP diluted EPS was $0.78 versus $1.37. The company raised its full-year 2025 organic sales growth outlook to +1.5% to +2.5% but left its adjusted EPS and free cash flow guidance unchanged.
Net sales rose 2.6% to $2.1 billion; organic sales rose 4.3% for the quarter.
GAAP diluted EPS was $0.78 versus $1.37; adjusted diluted EPS was $1.34 versus $2.08.
Free cash flow was negative $80 million versus $340 million a year earlier.
Full-year organic sales growth outlook raised to +1.5% to +2.5% from +1.0% to +2.0%; adjusted EPS guidance of $5.45 to $5.65 unchanged.
Toast reported first-quarter 2025 net income of $56 million, compared with a net loss of $83 million a year earlier, and Adjusted EBITDA of $133 million, up from $57 million. The company raised its full-year 2025 Adjusted EBITDA outlook to $540 million to $560 million from $510 million to $530 million, which signals higher expected profitability for shareholders.
Q1 2025 net income was $56 million versus a net loss of $83 million in Q1 2024.
Total revenue was $1.34 billion in Q1 2025 versus $1.08 billion in Q1 2024.
Full-year 2025 Adjusted EBITDA outlook raised to $540 million to $560 million from $510 million to $530 million.
Toast signed Dine Brands' Applebee's, which it describes as its largest deal to date.
Lyft reported first-quarter 2025 revenue of $1.5 billion, up 14% from a year earlier, and net income of $2.6 million, compared with a net loss of $31.5 million in the first quarter of 2024. Its board also raised the share repurchase authorization by $250 million to a total of $750 million, and the company guided to second-quarter Gross Bookings of $4.41 billion to $4.57 billion.
Revenue of $1.5 billion, up 14% year over year; Gross Bookings of $4.2 billion, up 13%
Net income of $2.6 million versus a net loss of $31.5 million in Q1 2024
Adjusted EBITDA of $106.5 million versus $59.4 million; free cash flow of $280.7 million versus $127.1 million
Repurchase authorization increased by $250 million to $750 million; the company intends to use $500 million within 12 months
Western Digital's board appointed Kris Sennesael as executive vice president and chief financial officer, effective May 12, 2025, and he will become the principal financial officer on that date. He will report to CEO Irving Tan and lead the global finance organization, and his pay package includes a $10,000,000 sign-on equity award that vests through 2028.
Sennesael was CFO of Skyworks Solutions from 2016 to May 2025, and previously was CFO of Enphase Energy and Standard Microsystems.
Annual base salary of $715,000, with a target short-term bonus of 100% of base salary and a $2,000,000 signing bonus subject to repayment if he leaves before the two-year anniversary of payment.
Sign-on equity award with a grant date value of $10,000,000, 80% in RSUs and 20% in PSUs; RSUs vest from November 2025 through May 2028.
Fox Factory reported first-quarter fiscal 2025 net sales of $355 million, up 6.5% from a year earlier, but a $262.1 million goodwill impairment drove a net loss attributable to stockholders of $259.7 million, or $6.23 per diluted share. Adjusted earnings per diluted share fell to $0.23 from $0.29, and the company reaffirmed its full-year 2025 guidance while giving a second-quarter outlook.
Net sales rose $22 million, or 6.5%, to $355.0 million; the company cited tariff-related uncertainty and challenging end-market demand.
The goodwill impairment followed adverse U.S. tariff policy changes and a sustained decline in the stock price; goodwill fell to $377.2 million from $639.5 million.
Second-quarter guidance calls for net sales of $340 million to $360 million and adjusted earnings per diluted share of $0.32 to $0.62.
For fiscal 2025, the company reaffirmed net sales of $1.385 billion to $1.485 billion and adjusted earnings per diluted share of $1.60 to $2.60.
Federal Realty Investment Trust reported first quarter 2025 results on May 8, 2025. FFO was $146.5 million, or $1.70 per diluted share, up from $136.7 million, or $1.64, a year earlier, and net income available for common shareholders was $61.8 million, or $0.72 per diluted share, versus $0.66. The company raised its 2025 FFO per diluted share guidance to $7.11 to $7.23 from $7.10 to $7.22 and kept its 2025 earnings per diluted share guidance at $3.00 to $3.12.
Q1 2025 FFO of $146.5 million, or $1.70 per diluted share, compared with $1.64 in Q1 2024
Net income available for common shareholders of $61.8 million, or $0.72 per diluted share, compared with $0.66
2025 FFO per diluted share guidance raised to $7.11 to $7.23; 2025 EPS guidance unchanged at $3.00 to $3.12
Comparable portfolio occupancy was 93.6% at March 31, 2025, up 180 basis points year over year
Yelp reported first-quarter 2025 net revenue of $359 million, up 8% from a year earlier, with net income of $24 million, or $0.36 per diluted share, versus $0.20 a year earlier. The company also updated its 2025 outlook to net revenue of $1.465 billion to $1.485 billion and adjusted EBITDA of $345 million to $365 million, which matters to shareholders because it sets the company's full-year targets.
Q1 2025 net revenue was $359 million, up 8% year over year and $4 million above the high end of the company's first-quarter outlook range.
Net income was $24 million, up 72% from $14 million, with diluted earnings of $0.36 per share versus $0.20 a year earlier.
Adjusted EBITDA was $85 million, up 32%, and $15 million above the high end of the company's outlook range.
2025 outlook: net revenue of $1.465 billion to $1.485 billion and adjusted EBITDA of $345 million to $365 million.
TransMedics reported first quarter 2025 revenue of $143.5 million, up 48% from $96.9 million a year earlier, and net income of $25.7 million, or $0.70 per diluted share, versus $12.2 million in the prior-year quarter. The company raised its full-year 2025 revenue guidance to $565 million to $585 million from the previous $530 million to $552 million range, which both headline measures and the outlook point to stronger results for shareholders.
Q1 2025 total revenue was $143.5 million, a 48% increase from $96.9 million in Q1 2024.
Net income was $25.7 million, or $0.70 per fully diluted share, compared with $12.2 million, or $0.35 per diluted share, a year earlier.
Full-year 2025 revenue guidance was raised to $565 million to $585 million from $530 million to $552 million, as reported February 27, 2025; gross margin was 61% versus 62% a year earlier.
Coinbase Global signed a Share Purchase Agreement on May 8, 2025 to acquire all outstanding shares of Deribit, paying $700 million in cash and issuing 10,997,881 shares of Coinbase Class A common stock, subject to adjustments and escrow. Closing depends on regulatory approvals and other conditions, with an outside date of November 8, 2025. The deal adds a sizable acquisition and new share issuance that shareholders should track.
Consideration: $700 million in cash plus 10,997,881 shares of Coinbase Class A common stock, subject to adjustments and a 15-month indemnity escrow
Outside date for closing is November 8, 2025; Coinbase pays a $100 million termination fee if the deal fails certain regulatory approvals
Deribit shareholders receiving more than 75% of the new shares agreed to lock-ups, with 50% released at 90 days and 50% at 180 days after closing
Indivior PLC, the company named in this filing (the filing does not mention Supernus, Inc.), said Joe Ciaffoni began as CEO on May 8, 2025, and Mark Crossley stepped down as CEO and director under his separation agreement. At its 2025 annual general meeting, shareholders passed all 19 resolutions, including approval of amended articles that require annual re-election of all directors and move references from the London Stock Exchange to Nasdaq.
Joe Ciaffoni's employment as CEO commenced May 8, 2025; Mark Crossley stepped down as CEO and as a director.
New articles require all directors to be re-elected annually and limit who can call board meetings to the Chair, Lead Independent Director, CEO, or a majority of directors.
All seven director nominees were elected or re-elected; Juliet Thompson received 65,523,796 votes for and 14,399,386 against (18.02%).
The articles reference Nasdaq instead of the London Stock Exchange, reflecting the move of the primary listing to Nasdaq.
Berkshire Hathaway's board unanimously voted on May 4, 2025 to appoint Greg Abel, currently Vice Chairman – Non-Insurance Operations, as President and CEO effective January 1, 2026. Warren Buffett will remain Chairman of the Board, and the company said so in a May 5, 2025 press release. The filing marks a planned leadership succession for shareholders, though it reports no financial results.
Board vote: unanimous, on May 4, 2025, following Buffett's May 3, 2025 announcement at the annual shareholders meeting
Greg Abel, age 62, has been a Berkshire director and Vice Chairman – Non-Insurance Operations since 2018
Abel was CEO of Berkshire Hathaway Energy from 2008 to 2018 and has been its chairman since 2011
Warren Buffett will remain Chairman of the Board of Directors
APA reported first-quarter 2025 net income attributable to common stock of $347 million, or $0.96 per diluted share, compared with $132 million, or $0.44, a year earlier, and total revenues of $2.6 billion versus $1.95 billion. The company cut its 2025 development capital guidance by $150 million and agreed to sell its New Mexico Permian assets to Permian Resources for $608 million, with proceeds expected mainly to reduce debt.
Q1 2025 adjusted earnings were $385 million, or $1.06 per diluted share, versus $237 million, or $0.78, in Q1 2024
2025 development capital guidance reduced by $150 million; full-year U.S. oil production guidance of 125,000 to 127,000 barrels per day maintained
Expected 2025 cost savings raised to $130 million from $60 million previously; annualized run-rate target of $225 million by year-end
New Mexico asset sale to Permian Resources Corporation (NYSE: PR) for $608 million, expected to close late in the second quarter
ACI Worldwide reported first-quarter 2025 revenue of $395 million, up 25% from a year earlier, and net income of $59 million compared with a net loss of $8 million in the prior-year quarter. The company raised its full-year 2025 revenue guidance, while keeping its adjusted EBITDA outlook unchanged, and CFO Scott Behrens announced his retirement, with no effective date set yet and a successor still being sought.
Q1 2025 revenue was $395 million, up 25%, and net income was $59 million, including a $22 million after-tax gain on the sale of a minority interest in Mindgate
Full-year 2025 revenue guidance raised to $1.690 billion to $1.720 billion from $1.685 billion to $1.715 billion; adjusted EBITDA guidance unchanged at $480 million to $495 million
Q2 2025 guidance: revenue of $375 million to $385 million and adjusted EBITDA of $55 million to $65 million
Scott Behrens will retire as EVP, CFO and Chief Accounting Officer, effective on a date to be determined; the company is identifying a successor
ScanSource reported fiscal third-quarter 2025 net sales of $704.8 million, down 6.3% year over year, while GAAP diluted EPS rose to $0.74 from $0.50. The company replaced its fiscal 2025 outlook, now expecting net sales of approximately $3 billion and adjusted EBITDA of $140 million to $145 million, and announced a new $200 million share repurchase authorization.
Q3 net sales were $704.8 million, down 6.3%; GAAP net income was $17.4 million, or $0.74 per diluted share, versus $0.50 a year earlier
Non-GAAP diluted EPS was $0.86, up 24.6%; adjusted EBITDA rose 5.9% to $35.1 million
FY25 outlook: net sales of approximately $3 billion (prior $3.1 billion to $3.5 billion); adjusted EBITDA of $140 million to $145 million (prior $140 million to $160 million); free cash flow at least $70 million, unchanged
Board approved a new $200 million buyback; about $42 million remained under the existing authorization as of March 31, 2025
Choice Hotels reported first-quarter 2025 net income of $44.5 million, up 44% from a year earlier, with diluted EPS of $0.94 versus $0.62. The company also lowered its full-year 2025 outlook, including net income guidance of $275 million to $290 million, down from $288 million to $300 million, and domestic RevPAR growth of -1% to 1%, down from 1% to 2%.
Q1 2025 total revenues were $333 million, compared with $332 million in Q1 2024.
Adjusted diluted EPS was $1.34, up 5% from $1.28, which the company called a first-quarter record.
Full-year 2025 adjusted diluted EPS guidance is $6.90 to $7.22, down from $6.98 to $7.24.
Management cited a more moderate domestic RevPAR growth expectation amid a changing macro backdrop.
Vericel reported first-quarter 2025 total revenue of $52.6 million, up from $51.3 million a year earlier, but its net loss widened to $11.2 million, or $0.23 per diluted share, from $3.9 million, or $0.08 per share. The company raised its full-year profitability guidance to a 74% gross margin and 26% adjusted EBITDA margin while reaffirming full-year revenue growth of 20% to 23%.
Q1 2025 total revenue of $52.6 million versus $51.3 million in Q1 2024; MACI net revenue of $46.3 million
Net loss of $11.2 million, or $0.23 per diluted share, versus a net loss of $3.9 million, or $0.08 per share, a year earlier
Full-year profitability guidance raised to 74% gross margin and 26% adjusted EBITDA margin
Second-quarter total revenue growth expected to be 22% to 25%; full-year revenue growth guidance of 20% to 23% reaffirmed
Maplebear Inc. (Instacart) said CEO Fidji Simo notified the company on May 7, 2025, of her intent to resign as CEO to pursue another opportunity, with the resignation date still to be determined. She will remain Board Chair, and the company says a new CEO will be announced soon. The company also reaffirmed its second quarter and fiscal 2025 financial outlook given on May 1, 2025.
CEO Fidji Simo notified the company on May 7, 2025, of her intent to resign as CEO.
The date of her resignation as CEO has not yet been determined.
Simo will continue as Chair of the Board of Directors.
The company reaffirmed its second quarter and fiscal 2025 outlook first given on its May 1, 2025 earnings call.
Viatris reported first quarter 2025 total revenues of $3.3 billion, down 11% from a year earlier, and a U.S. GAAP net loss of $3.0 billion, driven by a non-cash goodwill impairment charge of $2.9 billion. Adjusted EPS was $0.50, down 25%, and the company reaffirmed its 2025 outlook, including adjusted EPS guidance of $2.16 to $2.30. The filing also says the company has returned more than $450 million to shareholders year to date.
Total revenues $3.3 billion (down 11% reported; down 2% divestiture-adjusted operational basis); Indore Impact estimated at approximately $140 million in the quarter
U.S. GAAP net loss $(3.0) billion, or $(2.55) per share, versus net earnings of $114 million, or $0.09 per share, a year earlier
Adjusted EPS $0.50 versus $0.67 a year earlier; adjusted EBITDA $923.5 million, down 23%
2025 guidance reaffirmed; share repurchases of $500 million to $650 million expected in 2025
Maximus reported fiscal second-quarter 2025 revenue of $1.36 billion, up 1.0%, and diluted EPS of $1.69, up from $1.31 a year earlier. The company raised its fiscal 2025 revenue guidance to $5.25 billion to $5.4 billion and its adjusted diluted EPS guidance to $6.30 to $6.60, its second consecutive guidance raise. Shareholders also receive a $0.30 quarterly dividend payable May 31, 2025.
Q2 revenue rose 1.0% to $1.36 billion, with organic growth of 3.0% led by U.S. Federal Services.
Diluted EPS was $1.69 vs. $1.31 a year earlier; adjusted diluted EPS was $2.01 vs. $1.57.
FY25 guidance: revenue $5.25 billion to $5.4 billion; adjusted diluted EPS $6.30 to $6.60; free cash flow $355 million to $385 million (unchanged).
U.S. Services revenue fell 9.0% to $442.4 million, and days sales outstanding rose to 73 days from 62 days.
NetScout reported fourth-quarter fiscal 2025 revenue of $205.0 million, up from $203.4 million a year earlier, and GAAP net income of $18.6 million. For the full year, revenue fell to $822.7 million from $829.5 million, and the company posted a GAAP net loss of $366.9 million that includes $427.0 million in goodwill charges. Its CFO and COO are retiring effective May 31, 2025, with named successors starting June 1, 2025.
Q4 fiscal 2025 revenue was $205.0 million versus $203.4 million a year earlier; GAAP net income was $18.6 million, or $0.25 per diluted share, compared with a net loss of $32.4 million.
Fiscal 2025 revenue was $822.7 million versus $829.5 million; GAAP net loss was $366.9 million, or $(5.12) per diluted share, including goodwill charges of $427.0 million.
Fiscal 2026 outlook calls for revenue of $825 million to $865 million and GAAP diluted EPS of $1.07 to $1.22.
CFO Jean Bua and COO Michael Szabados step down effective May 31, 2025; Anthony Piazza becomes CFO and Sanjay Munshi becomes COO effective June 1, 2025.
Match Group reported first-quarter 2025 revenue of $831 million, down 3% year over year, and operating income of $173 million, down 7%. The company also announced a planned 13% workforce reduction and a reorganization under CEO Spencer Rascoff, and guided second-quarter revenue to $850 million to $860 million, down 2% to flat year over year.
Q1 2025 revenue $831 million, down 3% Y/Y; Payers fell 5% to 14.2 million, while RPP rose 1% to $19.07
Q1 adjusted operating income $275 million, down 2% Y/Y; diluted EPS $0.44, flat with the prior year
Q2 2025 guidance: revenue $850 million to $860 million and adjusted operating income $295 million to $300 million
Board declared a $0.19 per share dividend, payable July 18, 2025 to holders of record as of July 3, 2025
International Seaways reported first quarter 2025 net income of $50 million, or $1.00 per diluted share, down from $144 million, or $2.92, a year earlier, as shipping revenues fell to $183 million from $274 million. Adjusted net income was $40 million, or $0.80 per diluted share, excluding a gain on vessel sales. The board also declared a combined dividend of $0.60 per share, payable June 26, 2025.
Shipping revenues were $183 million versus $274 million a year earlier; TCE revenues were $178 million versus $271 million.
Adjusted EBITDA was $91 million versus $191 million in the first quarter of 2024.
Declared a $0.60 per share dividend ($0.12 regular and $0.48 supplemental), payable June 26, 2025 to holders of record on June 12, 2025.
Total liquidity was $673 million as of March 31, 2025, including $133 million in cash.
Dave Inc. reported first quarter 2025 results on May 8, 2025, with revenue up 47% to $108.0 million and Adjusted EBITDA up 235% to $44.2 million. GAAP net income fell to $28.8 million from $34.2 million, a year-earlier period that included a $33.4 million gain on extinguishment of convertible debt. The company raised its full-year 2025 revenue and Adjusted EBITDA guidance and authorized a $50 million share repurchase program.
Q1 2025 GAAP operating revenues of $108.0 million, up from $73.6 million in Q1 2024
GAAP net income of $28.8 million, down from $34.2 million; the prior-year period included a $33.4 million gain on extinguishment of convertible debt
Adjusted EBITDA of $44.2 million, up 235% from $13.2 million a year earlier
2025 revenue guidance raised to $460-$475 million from $415-$435 million; Adjusted EBITDA guidance raised to $155-$165 million from $110-$120 million
Talen Energy reported a first-quarter 2025 GAAP net loss attributable to stockholders of $135 million, compared with net income of $294 million a year earlier, as the absence of a prior-year asset sale gain and lower realized hedge gains weighed on results. The company affirmed and narrowed its 2025 guidance, with 2025 Adjusted EBITDA now projected at $975 million to $1.125 billion, which gives shareholders a clearer range but no increase in expectations.
GAAP net loss attributable to stockholders was $135 million, or $2.94 per diluted share, versus net income of $294 million, or $4.84 per diluted share, in Q1 2024.
Adjusted EBITDA was $200 million, down from $289 million, and Adjusted Free Cash Flow was $87 million, down from $194 million, mainly due to lower realized hedge gains.
2025 guidance was affirmed and narrowed: Adjusted EBITDA of $975 million to $1.125 billion and Adjusted Free Cash Flow of $450 million to $540 million; 2026 outlook unchanged.
On May 1, 2025, FERC approved the RMR arrangement to run Brandon Shores and H.A. Wagner through May 31, 2029, with expected payments of $145 million annually and $35 million, respectively, starting June 1, 2025.
N-able reported first-quarter 2025 revenue of $118.2 million, up 3.9% year over year, and beat the high end of its first-quarter revenue and adjusted EBITDA guidance. It raised the midpoint of its full-year 2025 revenue outlook to $494.5 million from $489.5 million, but swung to a GAAP net loss of $7.2 million, or $(0.04) per diluted share, from net income of $7.5 million a year earlier.
Q1 2025 total revenue $118.2 million, up 3.9% year over year; GAAP net loss $7.2 million versus net income of $7.5 million in Q1 2024
Adjusted EBITDA $31.6 million, a 26.8% margin; non-GAAP net income $15.6 million, or $0.08 per diluted share
Full-year 2025 revenue midpoint raised to $494.5 million from $489.5 million; range $492 million to $497 million
Board approved a share repurchase program of up to $75 million of common stock
Crocs reported first-quarter 2025 revenue of $937 million, roughly flat from a year earlier, and GAAP diluted earnings per share of $2.83, up from $2.50. The company withdrew its full-year 2025 financial outlook, citing macroeconomic uncertainty from global trade policies, so shareholders no longer have company guidance for the year.
Q1 2025 revenue was $937 million, down 0.1% as reported and up 1.4% on a constant currency basis.
GAAP diluted EPS was $2.83 versus $2.50; adjusted diluted EPS was $3.00, approximately flat.
The full-year 2025 outlook provided on February 13, 2025 was withdrawn, with no replacement outlook given.
Crocs repurchased about 0.6 million shares for $61 million in the quarter, with about $1.3 billion of authorization remaining.
Valvoline reported fiscal second-quarter sales of $403 million, up 4%, while reported earnings per diluted share fell 9% to $0.30 and income from continuing operations fell 12% to $38 million. The company reiterated its fiscal 2025 guidance and said it named J. Kevin Willis as Chief Financial Officer, effective May 19, 2025, which shareholders may watch as the finance leadership changes.
Net revenues of $403.2 million rose 4% (11% excluding the impact of refranchising); reported EPS of $0.30 fell 9%
Adjusted EPS of $0.34 decreased 8%; adjusted EBITDA of $104 million declined 1%
Company reiterated fiscal 2025 guidance, including a target of 160 to 185 new store additions
J. Kevin Willis to become CFO effective May 19, 2025, with a base salary of $650,000; he succeeds Mary Meixelsperger, who is retiring
Peloton reported fiscal third-quarter 2025 results for the quarter ended March 31, 2025. Total revenue fell 13% year-over-year to $624.0 million, while the GAAP net loss narrowed to $47.7 million from $167.3 million a year earlier and Adjusted EBITDA rose to $89.4 million. The company raised its full-year FY25 Adjusted EBITDA guidance to $330 million to $350 million and its Total Revenue guidance to $2.455 billion to $2.470 billion.
Total revenue was $624.0 million, down 13% year-over-year, with Connected Fitness Products Revenue down 27% to $205.5 million.
GAAP net loss was $47.7 million, compared with $167.3 million in the same quarter last year.
Adjusted EBITDA was $89.4 million, and the company reported $94.7 million of Free Cash Flow in the quarter.
FY25 guidance: Adjusted EBITDA raised to $330 million to $350 million; Total Revenue raised to $2.455 billion to $2.470 billion; Total Gross Margin held at 50.0%.
Life Time Group Holdings reported first-quarter 2025 results on May 8, 2025, with total revenue of $706.0 million, up 18.3% from a year earlier, and net income of $76.1 million, up 205.6%. The company raised its full-year 2025 outlook, including revenue guidance of $2,940 million to $2,980 million and net income guidance of $286 million to $293 million, which matters to shareholders because it signals higher expected earnings for the year.
Q1 2025 diluted EPS was $0.34, up from $0.12 in Q1 2024; net income included a $14.6 million tax benefit from stock option exercises
Adjusted EBITDA rose 31.2% to $191.6 million; net debt leverage ratio fell to 2.0 times from 3.6 times a year earlier
2025 guidance: revenue of $2,940 million to $2,980 million and Adjusted EBITDA of $792 million to $808 million; comparable center revenue growth raised to 8.5% to 9.5% from 7% to 8%
Life Time signed a letter of intent on May 6, 2025 for a sale-leaseback of three properties for approximately $150 million in gross proceeds
US Foods reported fiscal first-quarter 2025 net sales of $9.4 billion, up 4.5%, and net income of $115 million, up 40.2% from a year earlier. The company reaffirmed its fiscal 2025 guidance and authorized a new $1 billion share repurchase program, which it expects to use for more meaningful buybacks starting in the second quarter.
Net sales rose 4.5% to $9.4 billion; independent restaurant case volume rose 2.5%
Diluted EPS was $0.49, up 48.5%; Adjusted Diluted EPS was $0.68, up 25.9%
Board authorized a new $1 billion share repurchase program on May 7, 2025; about $52 million remained under the prior program at quarter end
Fiscal 2025 guidance reaffirmed: Net Sales growth of 4% to 6%, Adjusted EBITDA growth of 8% to 12%, Adjusted Diluted EPS growth of 17% to 23%
Warby Parker reported first-quarter 2025 net revenue of $223.8 million, up 11.9% from a year earlier, and GAAP net income of $3.5 million, its first quarter of positive net income as a public company. The company also revised its full-year 2025 guidance to net revenue of $869 million to $886 million and Adjusted EBITDA of $91 million to $97 million; the filing does not state the prior guidance figures.
Net revenue rose $23.8 million, or 11.9%, to $223.8 million; Active Customers rose 8.7% to 2.57 million.
GAAP net income was $3.5 million, compared with a net loss of $2.7 million in the first quarter of 2024.
Adjusted EBITDA rose to $29.2 million, with a margin of 13.1%, up 1.9 points.
2025 guidance: net revenue of $869 million to $886 million and Adjusted EBITDA of $91 million to $97 million, assuming the company largely mitigates tariffs at current rates.
Tapestry reported third-quarter fiscal 2025 results for the period ended March 29, 2025, with net sales of $1.58 billion, up 7% from a year earlier, and non-GAAP diluted EPS of $1.03, up 27%. The company raised its fiscal 2025 outlook, now expecting EPS in the area of $5.00 versus prior guidance of $4.85 to $4.90, and revenue of about $6.95 billion. The raised outlook and the reaffirmed plan to return over $2 billion to shareholders in fiscal 2025 are the main points for shareholders.
Q3 net sales of $1.58 billion, up 7% (8% constant currency); Coach revenue rose 13%
Q3 GAAP diluted EPS was $0.95, up from $0.60; non-GAAP diluted EPS was $1.03, up from $0.81
Fiscal 2025 EPS outlook raised to about $5.00 from $4.85 to $4.90; revenue outlook about $6.95 billion
Pending sale of Stuart Weitzman expected to close in summer 2025; quarterly dividend of $0.35 per share payable June 23, 2025
Somnigroup reported first quarter 2025 net sales of $1,604.7 million, up 34.9%, driven largely by the February 5, 2025 Mattress Firm acquisition. The company swung to a net loss of $33.1 million, or $0.17 per diluted share, from net income of $76.3 million, or $0.43 per share, a year earlier, and revised its full-year 2025 adjusted EPS expectations to a range of $2.30 to $2.65.
Q1 net sales rose 34.9% to $1,604.7 million, including $593.7 million from Mattress Firm for the February 5 to March 31 stub period.
Net loss was $33.1 million (loss of $0.17 per diluted share) versus net income of $76.3 million ($0.43 per share) in Q1 2024; operating income fell to $13.2 million from $131.5 million.
Adjusted EPS was $0.49 versus $0.50 a year earlier; the company revised its full-year 2025 adjusted EPS range to $2.30 to $2.65.
Board declared a quarterly cash dividend of $0.15 per share, payable June 5, 2025, to holders of record on May 22, 2025.
Enovis reported first-quarter 2025 net sales of $559 million, up 8% on a reported basis, and a net loss from continuing operations of $56 million, or $0.98 per share, compared with a loss of $1.32 per share a year earlier. The company raised its 2025 revenue outlook to $2.22-2.25 billion but cut its adjusted EBITDA forecast to $385-395 million from $405-415 million and its adjusted EPS forecast to $2.95-3.10 from $3.10-3.25, with the EBITDA outlook including $20 million of tariff-related impact.
Net sales of $559 million grew 8% on a reported basis and 9% on a comparable basis; Reconstructive sales rose 11%.
Adjusted EBITDA was $99 million, or 17.7% of sales, up 160 basis points from the prior-year quarter.
Adjusted EPS was $0.81 versus $0.50 a year earlier; GAAP net loss per share narrowed to $0.98 from $1.32.
2025 revenue outlook raised to $2.22-2.25 billion; adjusted EBITDA outlook cut to $385-395 million and adjusted EPS outlook cut to $2.95-3.10.
Wolverine World Wide reported first-quarter 2025 revenue of $412.3 million, up 4.4% from $394.9 million a year earlier, and diluted earnings per share of $0.13 versus a loss of $0.19. The company withdrew its full-year 2025 guidance, citing uncertainty around tariffs and macroeconomic conditions, while forecasting second-quarter revenue of $440 million to $450 million.
Q1 2025 diluted EPS of $0.13 versus a loss of $0.19 in Q1 2024; adjusted diluted EPS of $0.18 versus $0.05
Q1 2025 revenue of $412.3 million, up 4.4%; gross margin 47.3% versus 45.9%
Full-year 2025 outlook withdrawn; prior guidance issued February 19, 2025 is withdrawn
Second-quarter 2025 revenue expected at $440 million to $450 million; diluted EPS $0.17 to $0.22
YETI reported first-quarter 2025 net sales up 3% to $351.1 million and GAAP earnings per diluted share up 11% to $0.20, while adjusted EPS fell 9% to $0.31. The company cut its fiscal 2025 adjusted EPS outlook to $1.96-$2.02 from $2.90-$2.95, citing higher tariff costs and supply disruptions, and lowered its free cash flow outlook to $100 million-$125 million from $200 million.
Q1 net sales rose 3% to $351.1 million; Coolers & Equipment sales rose 17% to $140.2 million while Drinkware fell 4% to $205.6 million.
Adjusted operating income fell 11% to $35.2 million, or 10.0% of adjusted sales, versus $39.6 million a year earlier.
2025 outlook: adjusted sales growth of 1% to 4% (previously 5% to 7%) and adjusted operating margin of about 12.0% (previously 16.9%).
Free cash flow outlook cut to $100 million-$125 million from $200 million; cash was $259.0 million at quarter end.
Privia Health reported first-quarter 2025 revenue of $480.1 million, up 15.6% from a year earlier, and net income attributable to the company of $4.2 million, up from $3.0 million. The company raised its full-year 2025 outlook to the mid-to-high end of most guidance ranges, with attributed lives unchanged, and said it entered Arizona through a $95 million cash acquisition of Integrated Medical Services.
Q1 2025 total revenue was $480.1 million, up from $415.2 million; operating income was $5.2 million, compared with $0.8 million
Net income per share was $0.03, compared with $0.02 in Q1 2024; non-GAAP adjusted net income per share was $0.22, compared with $0.18
Full-year 2025 GAAP revenue guidance is $1.8 billion to $1.9 billion, with most metrics raised to the mid-to-high end of ranges; attributed lives guidance is unchanged
On April 9, 2025, the company entered Arizona with the $95 million cash acquisition of Integrated Medical Services, which is expected to be profitable starting in Q4 2025
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