1,086 material Form 8-K filings that 883 companies we cover made with the SEC in July 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).
AES reported a second-quarter 2025 GAAP net loss of $150 million, compared with net income of $153 million a year earlier, mainly due to higher day-one losses on sales-type leases and higher income tax expense. Non-GAAP adjusted EBITDA rose to $681 million and adjusted EPS rose to $0.51, and the company reaffirmed its 2025 guidance, which matters to shareholders because the GAAP loss and lower revenue sit alongside improved adjusted measures.
Q2 2025 diluted EPS was ($0.15), compared with $0.39 in Q2 2024; revenue was $2,855 million, compared with $2,942 million
Adjusted EBITDA was $681 million, compared with $658 million, and adjusted EPS was $0.51, compared with $0.38
2025 guidance reaffirmed: Adjusted EBITDA of $2,650 million to $2,850 million and Adjusted EPS of $2.10 to $2.26
Quarterly dividend of $0.17595 expected to be maintained; AES Indiana filed a rate review petition in June 2025
Leggett & Platt reported second-quarter 2025 sales of $1.1 billion, down 6% from a year earlier, while adjusted EPS of $0.30 rose $0.01 and reported EPS was $0.38 versus a loss of $4.39 in the prior-year quarter. The company reaffirmed its full-year sales and adjusted EPS guidance and narrowed its reported EPS range to $0.88–$1.17 from $0.85–$1.26, while reducing debt by $143 million in the quarter.
Trade sales were $1,058.0 million, down 6%, with volume down 7% on soft residential, automotive and hydraulic cylinder demand.
Adjusted EPS was $0.30 versus $0.29 a year earlier; reported EPS was $0.38 versus a loss of $4.39 in 2Q 2024, which included a $675 million non-cash goodwill impairment.
Debt was reduced by $143 million; net debt to trailing 12-month adjusted EBITDA was 3.5x, and the credit facility was reduced to $1.0 billion from $1.2 billion with maturity extended to July 2030.
Full-year 2025 sales guidance of $4.0–$4.3 billion and adjusted EPS guidance were maintained; the Aerospace business sale is expected to close this year.
Quaker Houghton reported second-quarter 2025 net sales of $483.4 million, up 4% from a year earlier, but posted a net loss of $66.6 million, or $3.78 per diluted share, driven by an $88.8 million non-cash goodwill impairment tied to its EMEA segment. Non-GAAP earnings per diluted share fell to $1.71 from $2.13, and management expects a stronger second half with full-year 2025 revenue and earnings in the range of 2024.
Net sales rose 4% to $483.4 million from $463.6 million, with organic sales volumes up 2%.
Net loss of $66.6 million, or $3.78 per diluted share, compared with net income of $34.9 million a year earlier.
Non-GAAP earnings per diluted share were $1.71 versus $2.13; adjusted EBITDA was $75.5 million, down about 10%.
Management expects full-year 2025 revenue and earnings in the range of 2024 and about $20 million of run-rate cost savings by the end of 2026.
Ingersoll Rand reported second quarter 2025 revenue of $1,888 million, up 5%, and raised its full-year 2025 revenue, Adjusted EBITDA and Adjusted EPS guidance. The company also reported a net loss attributable to Ingersoll Rand of $115 million, or $0.29 per share, driven by $265.8 million of non-cash impairments that it says do not affect adjusted earnings. For shareholders, the higher guidance is offset by the reported loss and by Adjusted EPS of $0.80, down from $0.83 a year earlier.
Revenue of $1,888 million, up 5%; orders of $1,940 million, up 8%
Reported net loss attributable to Ingersoll Rand of $115 million, or $0.29 per share, including $265.8 million of goodwill and intangible asset impairments
Adjusted EPS of $0.80 versus $0.83 a year earlier; Adjusted EBITDA of $509 million, up 3%
2025 guidance raised: Adjusted EBITDA of $2,100 million to $2,160 million and Adjusted EPS of $3.34 to $3.46
Camden Property Trust reported second-quarter 2025 EPS of $0.74, up from $0.40 a year earlier, but the filing says about $0.43 per share came from a gain on sale of an operating property. Core FFO per diluted share was $1.70, down from $1.71, and the company raised its 2025 Core FFO guidance to $6.76 to $6.86 from a prior midpoint of $6.78.
Q2 2025 EPS $0.74 vs. $0.40 in Q2 2024; EPS included about $0.43 per share from a gain on sale of an operating property
Q2 2025 Core FFO $1.70 vs. $1.71 a year earlier; Core AFFO $1.43 vs. $1.44
Q2 2025 property revenues $396.5 million vs. $387.2 million in Q2 2024
2025 Core FFO guidance $6.76 to $6.86 (midpoint $6.81, up $0.03); 2025 EPS guidance $2.33 to $2.43
WillScot reported second quarter 2025 results on July 31, 2025. Revenue fell to $589 million from $605 million a year earlier, and Adjusted EBITDA fell to $249 million from $264 million, while GAAP net income turned to $48 million from a $47 million loss that included a prior-year impairment charge. The company narrowed its 2025 revenue outlook to $2,300 million to $2,350 million and its Adjusted EBITDA outlook to $1,000 million to $1,020 million, citing its view of second half demand.
Q2 2025 revenue $589 million vs. $605 million in Q2 2024; diluted EPS $0.26 vs. a loss of $0.25 a year earlier
Adjusted diluted EPS $0.27 vs. $0.39 in Q2 2024; Adjusted EBITDA $249 million at a 42.3% margin vs. 43.6%
2025 outlook narrowed: revenue $2,300 million to $2,350 million; Adjusted EBITDA $1,000 million to $1,020 million; Adjusted Free Cash Flow $500 million to $550 million
Q2 Adjusted Free Cash Flow $130 million; about $134 million spent on tuck-in acquisitions and $53 million returned to shareholders
World Kinect reported a GAAP net loss attributable to the company of $339 million, or $6.06 per diluted share, for the second quarter of 2025, compared with net income of $108 million, or $1.81 per share, a year earlier. The loss reflects $367 million of non-cash Land segment intangible asset impairments, including $359 million of goodwill, and an $82 million pre-tax loss on the sale of its U.K. land fuels business, while revenue fell 18% to $9.04 billion and adjusted diluted EPS rose 23% to $0.59.
Revenue was $9.04 billion, down 18% from $10.97 billion a year earlier; gross profit was $232 million, down 5%.
GAAP net loss attributable to World Kinect was $339 million, or $6.06 per diluted share, versus net income of $108 million, or $1.81 per share, in the second quarter of 2024.
Adjusted diluted EPS was $0.59, up 23% from $0.48; the company repurchased $35 million of common stock in the quarter.
The Land segment recorded $367 million of intangible asset impairments, and the U.K. land fuels business sale was completed on April 9, 2025.
DXC Technology reported first quarter fiscal 2026 revenue of $3.16 billion, down 2.4% year over year, and diluted EPS of $0.09, down 35.7%. The company raised its full-year fiscal 2026 non-GAAP diluted EPS guidance to $2.85 to $3.35 from $2.75 to $3.25, while revenue and reported profit declined for the quarter.
Total revenue was $3.16 billion, down 2.4% year over year and down 4.3% on an organic basis
Diluted EPS was $0.09 versus $0.14 a year earlier; non-GAAP diluted EPS was $0.68, down 9.3%
Full-year fiscal 2026 non-GAAP diluted EPS guidance raised to $2.85 to $3.35 from $2.75 to $3.25
Bookings were $2.8 billion, up 14% year over year, and the company repurchased $50 million of shares
Healthcare Realty reported a second-quarter GAAP net loss of $0.45 per share, wider than the $0.39 loss a year earlier, while normalized FFO rose to $0.41 per share from $0.38 and the company raised its 2025 normalized FFO guidance by one cent at the midpoint. The board also cut the common dividend 23% to $0.24 per share, which the company said reduces the FAD payout ratio to approximately 80%. New CEO Peter Scott, who joined April 15, is leading a strategic plan and platform restructuring.
GAAP net loss attributable to common stockholders was $157.9 million, or $(0.45) per share, versus $143.8 million, or $(0.39) per share, in the second quarter of 2024
Normalized FFO was $0.41 per share versus $0.38 a year earlier; 2025 normalized FFO guidance rose to $1.57 to $1.61 from $1.56 to $1.60
Quarterly common dividend of $0.24 per share, payable August 28, 2025, to holders of record on August 14, 2025
Peter Scott joined as President and CEO on April 15, 2025; the board was reduced from 12 to 7 members
Reinsurance Group of America reported second-quarter 2025 net income of $180 million, or $2.70 per diluted share, down from $203 million, or $3.03, a year earlier, while net premiums rose 5.9% to $4.2 billion. CEO Tony Cheng said results were below expectations, mainly due to claims volatility in U.S. Individual Life, and the company also raised its quarterly dividend 4.5% to $0.93 and entered reinsurance agreements covering about $32 billion of Equitable Holdings life insurance liabilities.
Net income available to RGA shareholders was $180 million ($2.70 per diluted share) versus $203 million ($3.03) a year earlier.
Adjusted operating income was $315 million ($4.72 per diluted share) versus $365 million ($5.48).
Quarterly dividend increased 4.5% to $0.93 per share, payable August 26, 2025, to holders of record as of August 12, 2025.
RGA Re ceded a 75% quota share of Equitable's in-force individual life liabilities, about $32 billion, in a transaction the CEO said closed on July 31, 2025.
Bio-Rad reported second-quarter 2025 revenue of $651.6 million, up 2.1% from a year earlier. GAAP net income was $317.8 million, or $11.67 per diluted share, compared with a net loss a year earlier, mainly due to a change in the fair market value of its Sartorius AG investment. Non-GAAP net income fell to $71.0 million, or $2.61 per diluted share, from $88.3 million, or $3.11, and the company raised its non-GAAP operating margin outlook for 2025.
Q2 2025 net sales were $651.6 million, up 2.1% from $638.5 million; currency-neutral sales rose 1.0%.
GAAP net income was $317.8 million, or $11.67 per diluted share, versus a net loss of $(2,165.5) million, or $(76.26) per share, in Q2 2024.
Non-GAAP net income was $71.0 million, or $2.61 per diluted share, versus $88.3 million, or $3.11, a year earlier.
For full-year 2025, non-GAAP operating margin is now expected at approximately 12.0% to 13.0%, up from 10.0% to 12.0%; currency-neutral revenue growth is now expected at approximately 0% to 1.0%, versus a prior range of a 1.0% decline to 1.
Clorox reported fourth-quarter fiscal 2025 net sales up 4% to $2.0 billion and adjusted EPS up 58% to $2.87, helped by incremental ERP-related retailer shipments. For fiscal 2026 it expects net sales down 6% to 10% and adjusted EPS of $5.95 to $6.30, a decline of 18% to 23%, as the ERP shipment benefit reverses.
Q4 net sales rose 4% to $2.0 billion; organic sales rose 8%, with incremental ERP shipments adding about 13 to 14 points
Q4 diluted EPS rose 55% to $2.68 and adjusted EPS rose 58% to $2.87 versus $1.82 a year earlier
FY2026 diluted EPS outlook is $5.60 to $5.95, versus $6.52 in fiscal 2025; adjusted EPS outlook is $5.95 to $6.30 versus $7.72
Net cash provided by operations was $981 million for fiscal 2025, up 41% from $695 million
Illumina reported second-quarter 2025 revenue of $1.06 billion, down 3% from a year earlier on both reported and constant currency bases, while GAAP diluted EPS was $1.49 versus a loss of $12.48 a year earlier. The company raised its full-year 2025 non-GAAP diluted EPS guidance to $4.45 to $4.55 and agreed to acquire SomaLogic from Standard BioTools, a deal expected to close in the first half of 2026.
Q2 2025 revenue of $1.06 billion, down 3% from Q2 2024 on a reported and constant currency basis
GAAP diluted EPS of $1.49 and non-GAAP diluted EPS of $1.19 for Q2 2025; non-GAAP operating margin of 23.8%
FY2025 non-GAAP diluted EPS guidance raised to $4.45 to $4.55, up from $4.20 to $4.30, including about 10 cents from recently passed U.S. R&D tax legislation
Repurchased about 4.5 million shares for $380 million in Q2; about $800 million authorization remaining at quarter end
Matson reported second-quarter 2025 net income of $94.7 million, or $2.92 per diluted share, down from $113.2 million, or $3.31, a year earlier, on revenue of $830.5 million versus $847.4 million. The company said it is raising its full-year outlook, now expecting Ocean Transportation operating income above its early May guidance but moderately below 2024, while it expects third-quarter consolidated operating income to be meaningfully lower than a year earlier.
Diluted EPS was $2.92 versus $3.31; net income was $94.7 million versus $113.2 million.
Operating income was $113.0 million versus $124.6 million; revenue was $830.5 million versus $847.4 million.
China container volume fell 14.6 percent year-over-year in the second quarter amid tariff-related uncertainty.
For full-year 2025, Ocean Transportation operating income is expected to be higher than early May guidance but moderately lower than 2024; third-quarter consolidated operating income is expected to be meaningfully lower than $242.3 million
Corcept reported second quarter 2025 revenue of $194.4 million, up from $163.8 million a year earlier, but net income was $35.1 million versus $35.5 million and diluted earnings per share fell to $0.29 from $0.32. The company modified its 2025 revenue guidance to $850 million to $900 million and said demand outpaced its specialty pharmacy vendor's capacity, which it expects to ease as a second pharmacy comes online.
Q2 2025 revenue $194.4 million vs. $163.8 million in Q2 2024
Net income $35.1 million vs. $35.5 million; diluted EPS $0.29 vs. $0.32
Selling, general and administrative expense $103.9 million vs. $66.9 million a year earlier
2025 revenue guidance modified to $850 million to $900 million; cash and investments $515.0 million at June 30, 2025
Ryan Specialty reported second-quarter 2025 results for the period ended June 30, with total revenue up 23.0% and net income up 5.6%. The company cut its full-year 2025 organic revenue growth guidance to 9.0%-11.0% from 11%-13%, while narrowing its Adjusted EBITDAC margin guidance and declaring a $0.12 quarterly dividend.
Total revenue rose 23.0% year-over-year to $855.2 million; organic revenue growth slowed to 7.1% from 14.2%.
Net income rose 5.6% to $124.7 million; diluted EPS was $0.38 versus $0.37, and adjusted diluted EPS rose 13.8% to $0.66.
Full-year 2025 organic revenue growth guidance was lowered to 9.0%-11.0% from 11%-13.0%; Adjusted EBITDAC margin guidance is now 32.5%-33.0%, from 32.5%-33.5%.
Board declared a $0.12 per share regular quarterly dividend, payable August 26, 2025, to holders of record on August 12, 2025.
Coinbase reported second-quarter 2025 total revenue of $1.5 billion, down 26% from the first quarter, as trading activity fell with lower volatility. Net income was $1.4 billion, but that figure included $1.5 billion in strategic investment gains and a $362 million crypto portfolio gain, while Adjusted Net Income was $33 million and Adjusted EBITDA was $512 million. Shareholders should note the $308 million in operating expenses tied to the data theft incident and the company's Q3 outlook for subscription and services revenue of $665 million to $745 million.
Total revenue was $1.5 billion, down 26% Q/Q; transaction revenue was $764 million, down 39% Q/Q.
Net income was $1.4 billion, versus Adjusted Net Income of $33 million, which excludes $1.5 billion in pre-tax strategic investment gains and a $362 million pre-tax crypto portfolio gain.
Adjusted EBITDA was $512 million, down from $930 million in Q1 2025.
Q3 2025 outlook: subscription and services revenue of $665 million to $745 million; July transaction revenue of approximately $360 million.
Agree Realty reported second-quarter 2025 results and raised its 2025 AFFO per share guidance to $4.29 to $4.32 from $4.27 to $4.30. It also raised its 2025 investment volume guidance to $1.4 billion to $1.6 billion from $1.3 billion to $1.5 billion. Net income per share fell 18.5% to $0.43, while Core FFO and AFFO per share rose, so shareholders get a mixed picture of profit against cash-flow measures.
Q2 2025 net income per share attributable to common stockholders decreased 18.5% to $0.43, from $0.52; net income was $47.3 million, down 10.5%.
Q2 2025 Core FFO per share increased 1.3% to $1.05, and AFFO per share increased 1.7% to $1.06.
2025 AFFO per share guidance raised to $4.29 to $4.32; 2025 investment volume guidance raised to $1.4 billion to $1.6 billion.
Monthly dividend of $0.256 per share declared for June, a 2.4% year-over-year increase; the July dividend is payable August 14, 2025.
Edison International reported second-quarter 2025 GAAP net income of $343 million, or $0.89 per share, down from $439 million, or $1.14 per share, a year earlier. Core EPS was $0.97 versus $1.23, and the company reaffirmed its 2025 core EPS guidance of $5.94 to $6.34, but lowered its basic EPS guidance range because of non-core items. Operating revenue rose to $4,543 million from $4,336 million.
Q2 2025 operating revenue was $4,543 million, up from $4,336 million in Q2 2024; net income was $343 million, down from $439 million.
Q2 2025 core EPS was $0.97 versus $1.23 a year earlier; the company said higher operations and maintenance expense and regulatory decisions drove the decline at SCE.
2025 core EPS guidance was reaffirmed at $5.94 to $6.34; basic EPS guidance moved to $8.22 to $8.62 from $8.30 to $8.70 after $877 million, or $2.28 per share, of non-core items for the first half.
The company said SCE will launch a Wildfire Recovery Compensation Program this fall and that the Eaton Fire investigations remain ongoing.
Rogers reported second quarter 2025 net sales of $202.8 million, up 6.5% from the prior quarter but down from $214.2 million a year earlier. A net loss of $73.6 million, or $(4.00) per diluted share, reflected $71.8 million of non-cash impairment charges, while adjusted earnings per diluted share were $0.34. The company also announced cost reduction initiatives at its curamik business, with expected charges of $12.0 million to $20.0 million.
Q2 2025 net sales of $202.8 million, up 6.5% sequentially and down from $214.2 million in Q2 2024
GAAP net loss of $73.6 million, or $(4.00) per diluted share, including $71.8 million of non-cash impairment charges and $4.3 million of restructuring expenses
Adjusted EPS of $0.34, up from $0.27 in Q1 2025 and down from $0.69 in Q2 2024
Curamik cost initiatives expected to cut costs by more than $13.0 million annually, with $12.0 million to $20.0 million of expenses; Q3 2025 net sales guidance is $200 million to $215 million
Exponent reported second quarter 2025 revenues before reimbursements of $132.9 million, approximately flat year over year, and total revenues up 1% to $142.0 million. Net income fell to $26.6 million, or $0.52 per diluted share, from $29.2 million, or $0.57, a year earlier, and the company kept its full-year 2025 guidance while declaring a $0.30 quarterly dividend.
Revenues before reimbursements were $132.9 million, approximately flat versus $132.4 million in Q2 2024; total revenues rose 1% to $142.0 million.
Net income was $26.6 million, or $0.52 per diluted share, versus $29.2 million, or $0.57 per diluted share, in Q2 2024.
Full-year 2025 guidance was maintained: revenues before reimbursements expected to grow in the low single digits, and EBITDA expected at 26.50% to 27.0% of revenues before reimbursements.
Board declared a quarterly cash dividend of $0.30 per share, payable September 19, 2025, to stockholders of record as of September 5, 2025.
Columbia Sportswear reported second quarter 2025 net sales up 6% to $605.2 million, with a net loss of $10.2 million, or $0.19 per diluted share, narrowed from $0.20 a year earlier. The company gave a limited full year 2025 net sales outlook of $3.33 billion to $3.40 billion and third quarter diluted EPS guidance of $1.00 to $1.20, compared with $1.56 in the prior-year quarter, citing global trade policy uncertainty.
Q2 2025 net sales rose 6% to $605.2 million; operating loss was $23.6 million, versus $23.8 million a year earlier.
Full year 2025 net sales are expected to range from $3.33 billion to $3.40 billion, a decline of 1% to an increase of 1% versus 2024.
Third quarter 2025 diluted EPS is expected at $1.00 to $1.20, compared with $1.56 in the third quarter of 2024.
Board declared a quarterly dividend of $0.30 per share, payable September 4, 2025 to holders of record on August 21, 2025.
Cohu reported fiscal second-quarter 2025 net sales of $107.7 million, up from $104.7 million a year earlier, and a GAAP net loss of $16.9 million, or $0.36 per share, compared with a $15.8 million loss a year earlier. The company guided third-quarter 2025 sales to $125 million, plus or minus $7 million, so shareholders get higher sales alongside a continued GAAP loss.
Q2 2025 net sales were $107.7 million, up from $104.7 million in Q2 2024 and $96.8 million in Q1 2025.
GAAP net loss was $16.9 million, or $0.36 per share, versus a $15.8 million loss, or $0.34 per share, in Q2 2024.
Non-GAAP net income was $0.7 million, or $0.02 per share, compared with a non-GAAP loss of $0.6 million in Q2 2024.
Third-quarter 2025 sales are expected to be $125 million, plus or minus $7 million.
Casella Waste Systems reported second-quarter 2025 revenue of $465.3 million, up 23.4%, and Adjusted EBITDA of $109.5 million, up 19.5%, but net income fell to $5.2 million. The company raised its full-year revenue guidance and cut its net income guidance to $8 million to $18 million, while reaffirming Adjusted EBITDA guidance of $410 million to $425 million, so shareholders see stronger sales and cash-flow measures alongside lower profit.
Q2 2025 revenue $465.3 million, up $88.2 million from the same period in 2024; net income $5.2 million, down from $7.0 million
Adjusted EBITDA $109.5 million for the quarter, up 19.5%; six acquisitions completed in the first half with over $90 million in annualized revenue
Fiscal 2025 revenue guidance raised to $1.820 billion to $1.840 billion; net income guidance revised to $8 million to $18 million from $10 million to $25 million
Adjusted EBITDA guidance reaffirmed at $410 million to $425 million; the guidance excludes the pending Mountain State Waste acquisition
For the quarter ended June 30, 2025, eXp World Holdings reported revenue up 1% to $1.3 billion, but a net loss of $2.3 million, or $(0.01) per diluted share, compared with net income of $12.4 million a year earlier. Adjusted EBITDA fell to $11.2 million from $32.8 million, and the Board declared a $0.05 per share quarterly dividend payable August 29, 2025.
Revenue rose 1% to $1.3 billion ($1,308.9 million) for the quarter ended June 30, 2025.
Net loss of $2.3 million, or $(0.01) per diluted share, versus net income of $12.4 million, or $0.08 per diluted share, a year earlier.
Adjusted EBITDA was $11.2 million, down from $32.8 million; cash and cash equivalents were $94.6 million at June 30, 2025.
Board declared a $0.05 per share dividend on July 24, 2025, payable August 29, 2025 to holders of record on August 15, 2025.
Kirby reported second-quarter 2025 diluted earnings per share of $1.67, up from $1.43 a year earlier, on revenue of $855.5 million, up from $824.4 million. Management said that if current softness in trade flows and demand persists, 2025 EPS growth will likely be closer to the low end of the prior 15% to 25% range, which matters to shareholders because it signals weaker expected profit growth for the rest of the year.
Q2 2025 net earnings attributable to Kirby were $94.3 million, or $1.67 per diluted share, versus $83.9 million, or $1.43, in Q2 2024
Q2 2025 revenue was $855.5 million, versus $824.4 million; free cash flow was $22.5 million, versus $90.7 million
If current softness persists, 2025 EPS growth will likely be closer to the lower end of the prior 15% to 25% guidance
Total debt rose to $1,117.8 million at June 30, 2025, from $874.9 million at December 31, 2024
NorthWestern reported second quarter 2025 net income of $21.2 million, or $0.35 per diluted share, down from $31.7 million, or $0.52, a year earlier, even though total revenue rose to $342.7 million from $319.9 million. The company attributed the decline mainly to lower retail usage driven by weather, a delay in implementing updated Montana interim rates, and higher operating and interest costs, and it initiated 2025 diluted EPS guidance of $3.53 to $3.65.
Q2 2025 net income $21.2 million, or $0.35 per diluted share, versus $31.7 million, or $0.52, in Q2 2024
Q2 2025 adjusted non-GAAP diluted EPS $0.40, versus $0.53 in Q2 2024
2025 diluted EPS guidance range of $3.53 to $3.65, with a $0.66 quarterly dividend payable September 30, 2025
Montana electric and natural gas rate review: final briefs due August 2025; an outcome is expected early in the fourth quarter of 2025
Dream Finders Homes reported second quarter 2025 results, with homebuilding revenue up 4% to $1.1 billion and home closings up 10% to 2,232. Net income attributable to the company fell to $57 million, or $0.57 per basic share, from $81 million, or $0.83, a year earlier, as homebuilding gross margin narrowed to 16.5% from 19.0%. The company reiterated its full-year 2025 guidance of approximately 9,250 home closings.
Homebuilding revenue rose 4% to $1.1 billion; home closings rose 10% to 2,232 from 2,031.
Net income attributable to Dream Finders Homes was $57 million, or $0.57 per basic share, versus $81 million, or $0.83, in the prior-year quarter.
Homebuilding gross margin was 16.5% versus 19.0%, citing increased incentives, higher land and financing costs, and product mix.
Full-year 2025 guidance of approximately 9,250 home closings was reiterated; the company repurchased 705,404 Class A shares for $16 million in the quarter.
California Water Service Group reported second-quarter 2025 revenue of $265.0 million, up 8.5% from a year earlier, and net income of $42.2 million, or $0.71 per diluted share, versus $0.70 in Q2 2024. For the first six months, net income fell 49.8% to $55.5 million, or $0.93 per diluted share, because the prior-year period included $64.0 million of net 2023 interim rate relief. The company's 2024 California general rate case remains under review, with a final hearing scheduled for August 5, 2025.
Q2 2025 revenue rose $20.7 million, or 8.5%, to $265.0 million; rate changes added $23.9 million.
Year-to-date net income was $55.5 million, or $0.93 per diluted share, down from $110.5 million, or $1.90, in the first half of 2024.
Quarterly dividend of $0.30 per share declared, the 322nd consecutive quarterly dividend.
The 2024 California general rate case final law and motion hearing is scheduled for August 5, 2025.
Arrow Electronics reported second-quarter 2025 results on July 31, 2025. Sales rose 10% to $7.58 billion and GAAP diluted EPS rose 79% to $3.59, but non-GAAP diluted EPS fell 13% to $2.43, and the GAAP results include a $104 million gain on investments. The company gave third-quarter guidance of $7.30 billion to $7.90 billion in sales and non-GAAP diluted EPS of $2.16 to $2.36.
Second-quarter sales were $7.58 billion, up 10% from $6.89 billion a year earlier, and above the high end of the guidance range.
GAAP diluted EPS was $3.59 versus $2.01 a year earlier; net income attributable to shareholders was $188 million versus $109 million.
Non-GAAP diluted EPS was $2.43 versus $2.78 a year earlier, down 13%; non-GAAP net income was $127 million versus $150 million.
Third-quarter outlook: sales of $7.30 billion to $7.90 billion and non-GAAP diluted EPS of $2.16 to $2.36.
AGCO reported second-quarter 2025 net sales of $2.6 billion, down 18.8% from a year earlier, and reported net income of $4.22 per share versus a loss of $4.92 per share in the prior-year quarter. Adjusted earnings per share fell to $1.35 from $2.53, and the company raised its full-year net sales and earnings per share outlook, with reported quarterly results helped by a $205.5 million income tax benefit.
Q2 2025 net sales were $2.6 billion, down 18.8% year over year and down 22.3% excluding currency translation.
Reported EPS was $4.22 versus $(4.92) a year earlier; adjusted EPS was $1.35 versus $2.53.
Full-year 2025 net sales are now expected at approximately $9.8 billion, with EPS now targeted between $4.75 and $5.00.
On July 9, 2025, the Board authorized a new share repurchase program of up to $1.0 billion of common stock.
PPL reported second-quarter 2025 revenue of $2,025 million, up from $1,881 million a year earlier, but net income fell to $183 million from $190 million. Earnings from ongoing operations declined to $0.32 per share from $0.38, which the company attributed mainly to timing of operating costs and true-ups, favorable weather in 2024, and higher interest expense. PPL reaffirmed its 2025 ongoing earnings forecast of $1.75 to $1.87 per share, with a midpoint of $1.81.
Q2 2025 reported EPS was $0.25 versus $0.26 in Q2 2024; reported net income was $183 million versus $190 million.
Q2 2025 ongoing EPS was $0.32 versus $0.38; first-half ongoing EPS was flat at $0.92.
Operating revenues rose to $2,025 million in Q2 2025 from $1,881 million, and first-half revenues were $4,529 million versus $4,185 million.
2025 ongoing EPS forecast reaffirmed at $1.75 to $1.87, with the company expecting at least the $1.81 midpoint.
Patrick Industries reported second quarter 2025 results for the period ended June 29, 2025. Net sales rose 3% to $1.05 billion, but net income fell 32% to $32 million, or $0.96 per diluted share, after a $24.4 million legal settlement; excluding that expense, adjusted diluted EPS was $1.50 versus $1.44 a year earlier.
Net sales rose 3%, or $31 million, to $1.05 billion, led by RV (up 7%) and Housing (up 3%) growth.
Diluted EPS was $0.96 versus $1.44 a year earlier; adjusted diluted EPS was $1.50 versus $1.44.
Management expects lower wholesale shipments in the second half of 2025 than in the first half, relatively unchanged from its prior view.
Total net leverage ratio was 2.6x, with available liquidity of approximately $835 million at quarter end.
Itron reported second-quarter 2025 results, with revenue of $607 million, down slightly from $609 million a year earlier, while GAAP diluted EPS rose to $1.47 from $1.10. The company also updated its full-year 2025 outlook to revenue of $2.35 billion to $2.4 billion and non-GAAP diluted EPS of $6.00 to $6.20, which gives shareholders a clearer view of profit and cash generation for the rest of the year.
Revenue was $607 million versus $609 million a year earlier; Networked Solutions fell 1% and Outcomes rose 9%.
GAAP diluted EPS was $1.47 versus $1.10; non-GAAP diluted EPS was $1.62 versus $1.21.
Free cash flow was $91 million versus $45 million, and total backlog was $4.5 billion at quarter end.
Q3 2025 outlook is revenue of $570 million to $585 million and non-GAAP diluted EPS of $1.45 to $1.55.
Medical Properties Trust reported a second-quarter 2025 net loss of $98 million ($0.16 per share), smaller than the $321 million ($0.54 per share) loss a year earlier. Normalized funds from operations (NFFO) fell to $81 million ($0.14 per share) from $139 million ($0.23 per share), and total revenues declined to $240.4 million from $266.6 million, so shareholders see a smaller loss alongside weaker operating measures.
Net loss of $98 million ($0.16 per share) for Q2 2025 vs. $321 million ($0.54 per share) in Q2 2024; the quarter includes about $111 million ($0.18 per share) in impairment and fair market value adjustments.
NFFO of $81 million ($0.14 per share) vs. $139 million ($0.23 per share) a year earlier; total revenues were $240.4 million vs. $266.6 million.
Cash rental income from new tenants rose to $11.0 million from $3.4 million in Q1 2025; scheduled third-quarter cash collections approximate $17 million.
A regular quarterly dividend of $0.08 per share was paid in July 2025.
BorgWarner reported second quarter 2025 net sales of $3,638 million, up about 1% from a year earlier, and U.S. GAAP net earnings of $1.03 per diluted share, down from $1.39. Adjusted earnings were $1.21 per diluted share, up about 2%, and the company raised its full-year 2025 adjusted earnings per share guidance to $4.45 to $4.65 from $4.00 to $4.45. The board also raised the quarterly dividend 55% to $0.17 per share and increased the share repurchase authorization to $1 billion.
Q2 2025 U.S. GAAP net earnings were $224 million, or $1.03 per diluted share, compared with $315 million, or $1.39, in Q2 2024.
Full-year 2025 net sales guidance raised to $14.0 billion to $14.4 billion; GAAP net earnings guidance set at $3.80 to $3.97 per diluted share.
Quarterly cash dividend increased 55% to $0.17 per share, payable September 15, 2025, to holders of record on September 2, 2025.
Share repurchase authorization increased to $1 billion; the company bought about $108 million of its shares in the second quarter.
Southern Company reported second-quarter 2025 GAAP earnings of $0.9 billion, or $0.80 per share, down from $1.10 per share a year earlier, while operating revenues rose 7.9% to $7.0 billion. Excluding certain items such as a $129 million loss on debt extinguishment, adjusted earnings were $0.92 per share, versus $1.10 in the second quarter of 2024, so shareholders saw lower quarterly profit despite higher sales.
Q2 2025 GAAP net income was $880 million, or $0.80 per share, versus $1,203 million, or $1.10 per share, in Q2 2024.
Excluding items, Q2 2025 earnings were $1,014 million, or $0.92 per share, compared with $1.10 per share a year earlier.
Six-month 2025 GAAP EPS was $2.01, down from $2.13, while adjusted EPS rose to $2.15 from $2.13.
Operating revenues were $14.7 billion for the first six months of 2025, up 12.5% from $13.1 billion.
Alnylam reported second quarter 2025 total net product revenues of $672 million, up 64% from a year earlier, and raised its full-year 2025 total net product revenue guidance to $2,650 million to $2,800 million from $2,050 million to $2,250 million. The company also posted a GAAP loss from operations of $16.2 million, compared with income of $48.6 million a year earlier, and a GAAP net loss of $0.51 per share versus $0.13 in the prior-year quarter.
Q2 2025 total revenues were $773.7 million, up 17% from $659.8 million in Q2 2024
AMVUTTRA net product revenues were $492 million, up 114%; total TTR net product revenues were $544 million, up 77%
GAAP loss from operations was $16.2 million, versus income of $48.6 million; non-GAAP income from operations fell 31% to $95.5 million
Cost of goods sold rose to $142.0 million from $67.3 million, and GAAP SG&A expenses rose 30% to $323.3 million
Upbound Group reported second-quarter 2025 revenue of $1.16 billion, up 7.5% from a year earlier, and non-GAAP diluted EPS of $1.12, up from $1.04. GAAP diluted EPS fell to $0.26 from $0.61 because of $65.5 million in pre-tax special items, including legal matters. The company raised the midpoint of its full-year 2025 non-GAAP EPS guidance to $4.05 to $4.40 from $4.00 to $4.40.
Q2 2025 consolidated revenue was $1,157.5 million, up 7.5% year over year, helped by the Brigit acquisition.
GAAP net earnings were $15.5 million, down from $33.9 million; GAAP operating profit was $50.7 million, down from $80.7 million.
FY 2025 non-GAAP diluted EPS guidance midpoint raised; Adjusted EBITDA guidance narrowed to $515 million to $535 million from $510 million to $540 million.
Q3 2025 guidance: revenue of $1.05 billion to $1.15 billion and non-GAAP diluted EPS of $0.95 to $1.05.
Air Products reported fiscal third-quarter 2025 results, with sales of $3.0 billion, up 1%, and GAAP EPS of $3.24, up 4%, while adjusted EPS fell 3% to $3.09. The company revised its fiscal 2025 adjusted EPS guidance to $11.90 to $12.10 and expects capital expenditures of about $5 billion for the year, which gives shareholders an updated outlook for the year's final quarter.
Q3 GAAP operating income was $791 million, up 7%, helped by $99 million in pre-tax gains from asset and subsidiary sales.
Q3 adjusted operating income was flat at $741 million, and adjusted EPS was $3.09, down 3%, as the September 2024 LNG sale and lower helium demand offset cost gains.
Fiscal 2025 adjusted EPS guidance is revised to $11.90 to $12.10, with fourth-quarter adjusted EPS guidance of $3.27 to $3.47.
Year-to-date through June 30, 2025, the company recorded $2.95 billion in business and asset action charges, and net loss attributable to Air Products was $399.4 million.
Peabody reported a second-quarter net loss attributable to common stockholders of $27.6 million, or $0.23 per diluted share, compared with net income of $199.4 million, or $1.42 per share, a year earlier. Revenue fell to $890.1 million from $1,042.0 million, and Adjusted EBITDA fell to $93.3 million from $309.7 million, while the company raised some full-year volume targets and lowered cost targets for three segments. The company also said a Material Adverse Change has occurred under its purchase agreements for the Anglo American Moranbah North acquisition and plans a further update on August 19, 2025.
Q2 2025 net loss attributable to common stockholders of $27.6 million, or $0.23 per diluted share, versus $199.4 million, or $1.42 per share, in Q2 2024
Q2 revenue of $890.1 million versus $1,042.0 million a year earlier; Adjusted EBITDA of $93.3 million versus $309.7 million
Full-year 2025 PRB volume guidance raised by 5 million tons; Seaborne Metallurgical full-year cost guidance lowered by $7 per ton to approximately $118 per ton
Quarterly dividend of $0.075 per share payable September 3, 2025 to holders of record August 14, 2025
Hilton Grand Vacations reported second quarter 2025 results on July 31, 2025. Revenue rose to $1.266 billion from $1.235 billion and diluted EPS rose to $0.25 from $0.02, but adjusted EBITDA attributable to stockholders fell to $233 million from $262 million, and the company reiterated its full-year adjusted EBITDA guidance of $1.125 billion to $1.165 billion.
Total revenues were $1.266 billion versus $1.235 billion a year earlier; net income attributable to stockholders was $25 million, versus $2 million.
Adjusted EBITDA attributable to stockholders was $233 million, versus $262 million, and was reduced by a net deferral of $45 million.
Full-year 2025 adjusted EBITDA guidance of $1.125 billion to $1.165 billion was reiterated.
On July 29, 2025, the board approved a new share repurchase program of up to $600 million over two years, in addition to $98 million remaining under the 2024 plan.
Acadian Asset Management reported second-quarter 2025 results on July 31, 2025. Revenue rose 16.9% to $127.4 million and record net client inflows of $13.8 billion lifted assets under management to $151.1 billion, but U.S. GAAP net income attributable to controlling interests fell 8.2% to $10.1 million, and diluted EPS fell 3.4% to $0.28, mainly because operating expenses rose on higher employee equity plan revaluations. The company also declared a quarterly dividend of $0.01 per share.
Revenue of $127.4 million in Q2 2025, up 16.9% from $109.0 million in Q2 2024
U.S. GAAP net income attributable to controlling interests of $10.1 million, down 8.2%; diluted EPS of $0.28 versus $0.29
ENI diluted EPS, a non-GAAP measure, rose 42% to $0.64 from $0.45
Interim dividend of $0.01 per share payable September 26, 2025 to holders of record on September 12, 2025
HII reported second quarter 2025 revenue of $3.1 billion, up 3.5% from a year earlier, but net earnings fell to $152 million from $173 million, and diluted EPS fell to $3.86 from $4.38. The company raised its FY25 free cash flow guidance to $500 million to $600 million and reaffirmed its segment revenue and operating margin guidance, so shareholders see higher revenue and cash expectations alongside lower quarterly profit.
Q2 revenue of $3.1 billion ($3,082 million), up 3.5%; operating margin 5.3% vs. 6.3% a year earlier
Net earnings of $152 million vs. $173 million; diluted EPS of $3.86 vs. $4.38
Newport News Shipbuilding segment operating margin fell to 5.1% from 7.2%, driven by lower performance in the Virginia-class submarine program and aircraft carrier construction
FY25 free cash flow guidance raised to $500 million to $600 million; segment revenue and operating margin guidance reaffirmed; backlog of $56.9 billion as of June 30, 2025
Norwegian Cruise Line Holdings reported second quarter 2025 revenue of $2.5 billion, up 6% from a year earlier, and beat its Adjusted EBITDA guidance. GAAP net income fell to $30.0 million, a decline of $133.4 million year over year, mainly due to foreign exchange losses of $158.5 million. The company reiterated its full year 2025 guidance, though its net yield and cost guidance were updated, and the Revolving Loan Facility was upsized to about $2.5 billion.
Q2 2025 total revenue of $2.5 billion, up 6% from Q2 2024; GAAP net income $30.0 million, EPS $0.07
Adjusted EBITDA of $694 million versus $670 million guidance; Adjusted EPS of $0.51, in line with guidance
Full year 2025 guidance reiterated: Adjusted EBITDA about $2.72 billion and Adjusted EPS $2.05
Revolving Loan Facility upsized from $1.7 billion to about $2.5 billion; Net Leverage 5.3x at June 30, 2025
International Paper reported second quarter 2025 net sales of $6.8 billion, up from $4.7 billion a year earlier, and net earnings of $75 million, or $0.14 per diluted share, down from $498 million a year earlier. Adjusted operating earnings were $105 million, or $0.20 per diluted share, versus $0.55 a year earlier, and the results include the first full quarter of the combined DS Smith business. Management expects stronger global revenue and earnings in the third quarter of 2025.
Net sales were $6,767 million, up from $4,734 million in Q2 2024 and $5,901 million in Q1 2025.
Net earnings were $75 million ($0.14 per diluted share), compared with $498 million ($1.41) in Q2 2024 and a loss of $105 million in Q1 2025.
Adjusted operating EPS was $0.20, compared with $0.55 in Q2 2024 and $0.23 in Q1 2025; net special items were an after-tax charge of $34 million ($0.06 per share).
Management expects stronger global revenue and earnings in the third quarter of 2025.
Affiliated Managers Group reported second-quarter 2025 results, with diluted EPS of $2.80 versus $2.26 a year earlier and Economic EPS of $5.39 versus $4.67, while consolidated revenue fell to $493.2 million from $500.3 million. The company also declared a $0.01 per share quarterly dividend and reported about $100 million of Q2 share repurchases, which matters to shareholders because profit per share rose even as revenue declined.
Q2 2025 net income (controlling interest) was $84.3 million, up from $76.0 million; first-half net income was $156.6 million, down from $225.8 million.
Net client cash flows were $8.1 billion in Q2 2025, compared with $0.9 billion a year earlier.
About $100 million of stock was repurchased in Q2 and about $273 million in the first half of 2025.
Quarterly dividend of $0.01 per share is payable August 25, 2025 to holders of record on August 11, 2025.
Laureate Education reported second-quarter 2025 revenue of $524.2 million, up 5% on a reported basis, and operating income of $193.3 million, up from $166.6 million. Net income fell to $97.4 million from $128.4 million, mainly due to a $25.6 million foreign currency exchange loss, and diluted earnings per share were $0.65 versus $0.83. The company raised its full-year 2025 revenue and Adjusted EBITDA guidance, citing more favorable foreign currency rates.
Q2 2025 revenue $524.2 million, up 5% reported and up 10% organic constant currency
Q2 net income $97.4 million vs. $128.4 million a year earlier; diluted EPS $0.65 vs. $0.83
2025 revenue guidance raised by about $55 million to $1,615 million–$1,630 million
2025 Adjusted EBITDA guidance raised by about $16 million to $489 million–$496 million
Terex reported second quarter 2025 net sales of $1.5 billion, up 7.6% from a year earlier, while GAAP diluted EPS fell to $1.09 from $2.08 and adjusted EPS fell to $1.49 from $2.16. The board authorized a new $150 million share repurchase program and the company kept its full-year adjusted EPS outlook of $4.70 to $5.10.
Q2 2025 operating margin was 8.7% (11.0% adjusted), versus 14.0% a year earlier
Aerials net sales fell 17.1% to $607 million; Materials Processing fell 9.0% to $454 million; Environmental Solutions rose 12.9% on a pro forma basis to $430 million
Free cash flow was $78 million, up from $43 million; liquidity was $1.2 billion as of June 30, 2025
Full-year 2025 outlook: net sales $5.3 billion to $5.5 billion, adjusted EPS $4.70 to $5.10, assuming tariffs remain at current rates
Masco reported second quarter 2025 results, with net sales down 2% to $2,051 million while adjusted earnings per share grew 8% to $1.30. The company also restored its full-year 2025 guidance, expecting adjusted earnings per share of $3.90 to $4.10, and declared a quarterly dividend of $0.31 per share.
Net sales decreased 2% to $2,051 million; in local currency and excluding divestitures, sales were in line with the prior year
Reported earnings per share were $1.28 versus $1.17; adjusted earnings per share were $1.30 versus $1.20
2025 adjusted earnings per share guidance is $3.90 to $4.10 (reported basis $3.87 to $4.07)
Quarterly dividend of $0.31 per share is payable August 25, 2025 to holders of record on August 8, 2025
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