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).
Ares Management reported second quarter 2025 results, with GAAP net income attributable to the company of $137.1 million, or $0.46 per share, compared with $94.9 million a year earlier. Total revenues rose to $1.35 billion from $788.7 million, and fee related earnings grew 26% to $409.1 million. The company also declared a $1.12 quarterly dividend per Class A share, payable September 30, 2025.
GAAP net income attributable to Ares Management was $137.1 million, or $0.46 per share, versus $94.9 million, or $0.43 per share, in the second quarter of 2024.
Total revenues were $1.35 billion, compared with $788.7 million a year earlier.
Fee related earnings were $409.1 million, up 26%; after-tax realized income was $1.03 per share, versus $0.99 a year earlier.
Quarterly dividend of $1.12 per Class A share is payable September 30, 2025, to holders of record as of September 16, 2025.
Federated Hermes reported second quarter 2025 earnings of $1.16 per diluted share, up from $0.20 a year earlier, on revenue of $424.8 million, up 6%. The prior-year quarter included a $66.3 million impairment charge, and compared with the first quarter of 2025, EPS fell 7% and revenue was flat. The board also declared a $0.34 per share dividend and approved a new buyback of up to 5 million shares.
Q2 2025 net income was $91.0 million, compared with $21.0 million in Q2 2024, which included a $66.3 million non-cash impairment.
Total managed assets were a record $845.7 billion at June 30, 2025, up 8% from a year earlier and up 1% from March 31, 2025.
Quarterly dividend of $0.34 per share is payable Aug 15, 2025 to holders of record as of Aug 8, 2025.
The board authorized an 18th share repurchase program of up to 5 million additional Class B shares with no expiration date.
Arthur J. Gallagher & Co. reported second-quarter 2025 results, with total revenues before reimbursements of $3.18 billion, up from $2.74 billion a year earlier, and diluted EPS of $1.40 versus $1.27. Adjusted diluted EPS was $2.33 against $2.29, and the company said it expects the pending AssuredPartners acquisition to close in the third quarter of 2025. A separate CFO Commentary, made available with the release, includes estimates for 2025 and other future results.
Total revenues before reimbursements were $3,177.9 million vs. $2,736.0 million in Q2 2024.
Net earnings (as reported) were $366.2 million vs. $285.4 million; diluted EPS was $1.40 vs. $1.27.
Adjusted diluted EPS (non-GAAP) was $2.33 vs. $2.29 in Q2 2024.
The AssuredPartners acquisition, agreed December 7, 2024 for approximately $13.45 billion, is expected to close in Q3 2025.
AptarGroup reported second-quarter 2025 results on July 31, 2025, with reported sales up 6% to $966 million and diluted EPS of $1.67, up from $1.34 a year earlier. Its third-quarter adjusted EPS guidance of $1.53 to $1.61 is roughly flat against the $1.54 reported for the same quarter of 2024, including 6 to 7 cents of higher legal fees. Shareholders see stronger quarterly profit, while the filing points to little year-over-year EPS growth in the third quarter.
Q2 reported net income rose 24% to $112 million; adjusted EBITDA rose 13% to $218 million.
Q2 adjusted EPS was $1.66, up 18% from $1.41 a year earlier.
Q3 2025 adjusted EPS guidance is $1.53 to $1.61, compared with $1.54 in Q3 2024, and includes about 6 to 7 cents of higher legal fees.
Aptar returned $100 million to shareholders in Q2; the quarterly dividend of $0.45 per share is payable August 14, 2025.
MasTec reported second quarter 2025 revenue of $3.5 billion, up 20% from a year earlier, and GAAP diluted earnings per share of $1.09, up from $0.43. The company raised its full year 2025 diluted EPS guidance midpoint to $4.71 and adjusted diluted EPS guidance midpoint to $6.33, which indicates higher expected earnings for shareholders.
Q2 2025 revenue was $3,545 million versus $2,961 million in Q2 2024, a 19.7% increase; Pipeline Infrastructure revenue fell 5.7%.
Q2 2025 adjusted diluted EPS was $1.49 versus $1.00 a year earlier; GAAP net income was $90.1 million.
Full year 2025 guidance: revenue of $13.9 billion to $14.0 billion and GAAP diluted EPS of $4.61 to $4.82.
Six-month free cash flow was $(0.4) million, compared with $346.4 million in the prior-year period.
Ameren reported second quarter 2025 net income attributable to common shareholders of $275 million, or $1.01 per diluted share, up from $258 million, or $0.97 per diluted share, a year earlier. Total operating revenues were $2,221 million, up from $1,693 million, and the company reaffirmed its 2025 diluted EPS guidance range of $4.85 to $5.05 per share, saying it is well positioned to land in the top half of that range.
Q2 2025 diluted EPS was $1.01 versus $0.97 in Q2 2024; net income was $275 million versus $258 million.
Q2 2025 total operating revenues were $2,221 million versus $1,693 million in Q2 2024.
Ameren reaffirmed 2025 diluted EPS guidance of $4.85 to $5.05 and said it is well positioned for earnings in the top half of the range, assuming normal temperatures for the last six months of the year.
Ameren Missouri Q2 2025 earnings were $150 million, compared with $128 million a year earlier, reflecting new electric rates effective June 1, 2025.
Eversource Energy reported second-quarter 2025 earnings of $352.7 million, or $0.96 per share, up from $335.3 million, or $0.95 per share, a year earlier, and reaffirmed its 2025 EPS projection of $4.67 to $4.82. Transmission, electric distribution, natural gas and water segments all earned more, while a larger parent and other companies loss offset part of the gain. Shareholders get a modest year-over-year improvement with guidance unchanged.
Q2 2025 earnings were $352.7 million, or $0.96 per share, versus $335.3 million, or $0.95 per share, in Q2 2024
First half 2025 earnings were $903.5 million, or $2.45 per share, versus $857.2 million, or $2.43 per share, in the first half of 2024
2025 EPS projection of $4.67 to $4.82 and long-term EPS growth of 5% to 7% were reaffirmed
Parent and other companies loss widened to $66.5 million in Q2 2025 from $38.5 million, mainly due to higher interest expense after the sale of offshore wind projects
Cavco reported fiscal first quarter results for the period ended June 28, 2025, with net revenue of $557 million, up 16.6%, mainly on higher home sales volume. Net income rose 50% to $51.6 million, and diluted earnings per share were $6.42 compared with $4.11 a year earlier, which shows improvement in both headline profit measures for shareholders.
Net revenue was $557 million, up 16.6% from $478 million, with factory-built homes sold up 14.7%.
Diluted net income per share was $6.42, up from $4.11; net income was $51.6 million, up from $34.4 million.
Factory-built housing gross margin was 22.6%, unchanged; financial services gross margin was 40.9%, compared with (0.6)% a year earlier.
Stock repurchases were about $50 million in the quarter, and $178 million remains available under Board authorizations.
Dolby Laboratories reported fiscal third-quarter 2025 results for the quarter ended June 27, 2025, with total revenue of $316 million, up from $289 million a year earlier, and GAAP diluted earnings per share of $0.48, up from $0.40. The company also declared a $0.33 per share cash dividend payable August 20, 2025, and gave fourth-quarter and full-year fiscal 2025 estimate ranges, including full-year GAAP diluted EPS of $2.40 to $2.55.
Total revenue was $316 million, compared with $289 million in the third quarter of fiscal 2024.
GAAP net income was $46 million, or $0.48 per diluted share; non-GAAP net income was $76 million, or $0.78 per diluted share.
Q4 fiscal 2025 total revenue is estimated at $288 million to $318 million; full-year GAAP diluted EPS is expected at $2.40 to $2.55.
Cash dividend of $0.33 per share is payable August 20, 2025, to holders of record on August 12, 2025.
Strategy reported second-quarter 2025 net income of $10.02 billion, or $32.60 per diluted share, compared with a net loss of $102.6 million a year earlier. The company said the profit came mainly from a $14.0 billion unrealized gain on its bitcoin holdings, and it issued FY2025 guidance that depends on a year-end bitcoin price of $150,000.
Q2 2025 operating income of $14.03 billion and net income of $10.02 billion, versus a Q2 2024 operating loss of $200.3 million
Total revenues of $114.5 million, up 2.7% year-over-year; gross margin fell to 68.8% from 72.2%
FY2025 guidance: operating income of about $34 billion, net income of about $24 billion, diluted EPS of about $80, assuming a $150,000 year-end bitcoin price
FY2025 BTC $ Gain target raised to $20 billion from $15 billion; BTC Yield target raised to 30% from 25%
Floor & Decor reported second-quarter fiscal 2025 results for the quarter ended June 26, 2025, with net sales of $1.21 billion and diluted EPS of $0.58, both up year over year. The company also issued updated fiscal 2025 guidance, including diluted EPS of approximately $1.75 to $2.00, giving shareholders a current range for full-year profit.
Net sales of $1,214.2 million, up 7.1% from $1,133.1 million in the second quarter of fiscal 2024
Diluted EPS of $0.58, up 11.5% from $0.52; net income of $63.2 million
Comparable store sales rose 0.4%, the first quarterly increase since the fourth quarter of fiscal 2022
Updated fiscal 2025 outlook: net sales of approximately $4,660 million to $4,750 million and diluted EPS of approximately $1.75 to $2.00
Roku reported second-quarter 2025 total net revenue of $1.111 billion, up 15% year over year, and net income of $10.5 million, compared with a net loss a year earlier. The company raised its full-year 2025 Platform revenue and Adjusted EBITDA outlook and authorized up to $400 million in share repurchases through December 31, 2026.
Q2 total net revenue was $1.111 billion, up 15% YoY; Platform revenue was $975 million, up 18% YoY
Net income was $10.5 million, or $0.07 per share, versus a net loss of $34.0 million in Q2 2024
Full-year 2025 outlook raised to $4.075 billion Platform revenue and $375 million Adjusted EBITDA; Q2 Adjusted EBITDA was $78 million, up 79%
Board authorized up to $400 million of Class A stock repurchases; Dan Jedda was named Chief Financial Officer and Chief Operating Officer, approved July 28, 2025
Five9 reported second-quarter 2025 revenue of $283.3 million, up 12% from $252.1 million a year earlier, and GAAP net income of $1.2 million, compared with a net loss of $12.8 million in the year-earlier quarter. The company also issued full-year and third-quarter 2025 guidance, though the filing gives no prior guidance for comparison. Bryan Lee, previously interim CFO, was appointed Chief Financial Officer effective July 31, 2025.
Q2 2025 revenue rose 12% to a record $283.3 million from $252.1 million in Q2 2024
GAAP net income was $1.2 million, or $0.01 per diluted share, versus a $12.8 million net loss a year earlier
Q3 2025 revenue guidance is $283.0 million to $286.0 million; full-year 2025 revenue guidance is $1.1435 billion to $1.1495 billion
Bryan Lee was appointed CFO effective July 31, 2025, after serving as interim CFO since April 2025
Reddit reported second-quarter 2025 results for the quarter ended June 30, 2025, with revenue of $500 million, up 78% from $281 million a year earlier, and net income of $89 million compared with a net loss of $10 million in the prior-year quarter. The company also guided to third-quarter 2025 revenue of $535 million to $545 million and Adjusted EBITDA of $185 million to $195 million, which gives shareholders a near-term outlook for the business.
Q2 2025 revenue was $500 million, up 78% year-over-year; advertising revenue was $465 million, up 84%
Diluted EPS was $0.45 versus a loss of $(0.06) a year earlier; Adjusted EBITDA was $167 million versus $40 million
Q3 2025 guidance: revenue of $535 million to $545 million and Adjusted EBITDA of $185 million to $195 million
Cash, cash equivalents, and marketable securities were $2.06 billion as of June 30, 2025
Bloom Energy reported second-quarter 2025 revenue of $401.2 million, up 19.5% from a year earlier, and its GAAP net loss to common stockholders narrowed to $42.6 million from $61.8 million. The company reaffirmed its full-year 2025 revenue guidance of $1.65 billion to $1.85 billion, so shareholders see improved sales and a smaller loss with no change to the outlook.
Q2 2025 revenue of $401.2 million, up 19.5% from $335.8 million in Q2 2024
GAAP operating loss of $3.5 million, compared with $23.1 million a year earlier
GAAP diluted loss per share of $0.18, compared with $0.27 in Q2 2024
2025 outlook reaffirmed: revenue of $1.65 billion to $1.85 billion and non-GAAP operating income of $135 million to $165 million
Middlesex Water reported second-quarter 2025 net income of $10.8 million, up from $10.5 million a year earlier, with operating revenues of $49.3 million, up $0.2 million. For the first six months, net income fell $1.0 million to $20.3 million, mainly because of a one-time 2024 recovery, while the Delaware Public Service Commission approved a rate increase of $5.5 million in annual operating revenues effective July 3, 2025.
Q2 2025 diluted EPS was $0.60 versus $0.59 in Q2 2024; operating revenues were $49.3 million versus $49.1 million.
Six-month diluted EPS was $1.13 versus $1.18 in the first half of 2024; six-month net income was $20.3 million, down $1.0 million.
Delaware rate increase of $5.5 million in annual operating revenues, based on a 9.5% authorized return on common equity, took effect July 3, 2025.
Board declared a $0.34 per share third-quarter dividend, payable September 2, 2025, to holders of record as of August 15, 2025.
Shenandoah Telecommunications (Shentel) reported second quarter 2025 revenue of $88.6 million, up 3.2% from a year earlier, and a net loss from continuing operations of $9.0 million, compared with $12.8 million in the second quarter of 2024. The company also issued its first 2025 financial guidance, projecting total revenue of $352 million to $357 million and Adjusted EBITDA of $113 million to $118 million for the full year.
Adjusted EBITDA rose 21.9% to $28.4 million; Adjusted EBITDA margin was 32%, up from 27%
Glo Fiber Expansion Markets revenue grew 40.5% to $19.8 million, with data subscribers up 43.1% to about 76,000
2025 guidance: total revenue $352 million to $357 million; Adjusted EBITDA $113 million to $118 million; capital expenditures, net of government grant reimbursements, $260 million to $290 million
Depreciation and amortization rose 37.2% to $35.1 million, including a $4.2 million write-off of plant under construction inventory
AppFolio reported second-quarter 2025 revenue of $236 million, up 19% from a year earlier, and GAAP net income of $36 million, up from $30 million. GAAP operating margin slipped to 17.2% from 18.3%. The company also gave a full-year 2025 revenue outlook of $935 million to $945 million and named Tim Eaton Chief Financial Officer effective July 30, 2025.
Q2 2025 revenue was $235.6 million, up from $197.4 million in Q2 2024
GAAP diluted EPS was $0.99 versus $0.81 a year earlier; GAAP operating margin was 17.2% versus 18.3%
Full-year 2025 revenue is expected at $935 million to $945 million; non-GAAP operating margin at 24.5% to 26.5%
Tim Eaton was appointed CFO effective July 30, 2025, after serving as interim CFO since October 2024
ResMed reported fourth-quarter fiscal 2025 results for the quarter ended June 30, 2025, with revenue up 10% to $1.3 billion and diluted earnings per share up 30% to $2.58. The company also declared a quarterly dividend of $0.60 per share, a 13% increase, payable September 18, 2025 to holders of record on August 14, 2025.
Q4 revenue $1,348.0 million, up 10% (9% constant currency); income from operations up 19% to $454.5 million
Q4 diluted EPS $2.58 vs. $1.98 a year earlier; non-GAAP diluted EPS $2.55 vs. $2.08
Full-year revenue $5.1 billion, up 10%; full-year diluted EPS $9.51 vs. $6.92
Quarterly dividend $0.60 per share; ex-dividend date August 13, 2025
First Solar reported second-quarter 2025 net sales of $1.1 billion, up $0.3 billion from the prior quarter, and diluted earnings of $3.18 per share, up from $1.95 in the first quarter. The company raised its 2025 net sales guidance to $4.9 billion to $5.7 billion and kept the midpoint of its diluted EPS guidance at $15.00, narrowing the range to $13.50 to $16.50. Shareholders get a stronger quarter and a higher sales outlook, though year-over-year quarterly EPS was slightly below the $3.25 reported in the second quarter of 2024.
Q2 2025 net sales $1.1 billion, up $0.3 billion from Q1; net income $341.9 million
Diluted EPS $3.18 versus $1.95 in Q1 2025 and $3.25 in Q2 2024
2025 net sales guidance raised to $4.9 billion to $5.7 billion from $4.5 billion to $5.5 billion
Sold $312 million of Section 45X tax credits for $296 million cash, recognizing a $16 million loss
BJ's Restaurants reported fiscal second quarter 2025 results, with revenue of $365.6 million, up 4.5% from a year earlier, and diluted earnings of $0.97 per share, up from $0.72. The company also reaffirmed a fiscal 2025 outlook calling for comparable restaurant sales growth of about 2%, restaurant level operating profit of $211 million to $219 million, and Adjusted EBITDA of $132 million to $140 million.
Q2 2025 revenue $365.6 million, up 4.5%; comparable restaurant sales up 2.9%
Diluted EPS $0.97 versus $0.72; adjusted diluted EPS $0.97, up 25.1% from $0.78
Perdoceo Education reported second-quarter 2025 revenue of $209.6 million, up 25.7% from $166.7 million a year earlier, and GAAP diluted earnings per share of $0.62 versus $0.57. The board also raised the quarterly dividend 15.4% to $0.15 per share and approved a new $75.0 million share buyback, while the full-year 2025 GAAP earnings per share outlook of $2.29 to $2.36 compares with $2.19 in 2024.
Q2 2025 revenue $209.6 million, up 25.7% from $166.7 million; operating income $51.4 million, up 11.7%.
GAAP diluted EPS $0.62 for the quarter versus $0.57; year to date $1.27 versus $1.16.
Full-year 2025 GAAP EPS outlook $2.29 to $2.36 versus $2.19 in 2024; third-quarter outlook $0.55 to $0.57 versus $0.57.
Quarterly dividend raised to $0.15 per share, payable September 12, 2025; new $75.0 million buyback runs through January 31, 2027.
Monolithic Power Systems (MPS) reported second-quarter 2025 revenue of $664.6 million, up 31.0% from a year earlier and 4.2% from the first quarter, with GAAP net income of $133.7 million, or $2.78 per diluted share. The company expects third-quarter 2025 revenue of $710.0 million to $730.0 million, while GAAP gross margin of 55.1% was slightly below the 55.3% reported a year earlier.
Q2 2025 revenue of $664.6 million, up 31.0% from $507.4 million in Q2 2024 and up 4.2% from $637.6 million in Q1 2025
GAAP net income of $133.7 million, or $2.78 per diluted share, versus $100.4 million, or $2.05 per diluted share, a year earlier
Q3 2025 revenue outlook of $710.0 million to $730.0 million; GAAP gross margin guidance of 54.9% to 55.5%
GAAP gross margin of 55.1% in Q2 2025 compared with 55.3% in Q2 2024
Cullen/Frost reported second-quarter 2025 net income available to common shareholders of $155.3 million, up from $143.8 million a year earlier, and diluted earnings of $2.39 per share, up from $2.21. Net interest income rose 7.9% to $450.6 million, while non-interest expense rose 9.5% to $347.1 million. The board also declared a third-quarter common dividend of $1.00 per share, payable September 15, 2025.
Net income available to common shareholders was $155.3 million, versus $143.8 million in Q2 2024; diluted EPS was $2.39 versus $2.21.
Net interest income was $450.6 million, up 7.9%; net interest margin was 3.67% versus 3.54% a year earlier.
Non-interest expense was $347.1 million, up 9.5%; credit loss expense was $13.1 million.
Board declared a $1.00 per common share dividend, payable September 15, 2025 to holders of record on August 29.
Lincoln Electric reported second quarter 2025 results on July 31, 2025. Net sales rose 6.6% to $1,088.7 million and diluted EPS was $2.56, up from $1.77 a year earlier. The company also agreed to buy the remaining 65% of Alloy Steel Australia for about $90 million, with closing expected on August 1, 2025.
Net sales of $1,088.7 million, up 6.6%: organic sales rose 2.9% and acquisitions added 3.0%.
Diluted EPS of $2.56 versus $1.77 a year earlier; adjusted EPS of $2.60 versus $2.34.
Operating income margin of 17.6% versus 14.6%; cash from operations of $144 million.
Alloy Steel acquisition for about $90 million, expected to close August 1, 2025; expected to add $0.13 to $0.15 per diluted share annually, excluding transaction costs.
Millrose Properties reported second-quarter 2025 net income attributable to common shareholders of $112.8 million, or $0.68 per share, driven by $149.0 million in option fees and other related income. The company raised its year-end AFFO quarterly run rate guidance to $0.70 to $0.73 per share, citing higher transaction funding outside the Lennar Master Program Agreement.
Q2 2025 net income attributable to common shareholders was $112.8 million, or $0.68 per share, versus a net loss of $59.8 million in the prior-year period.
Adjusted Funds From Operations (AFFO) was $115.0 million, or $0.69 per share.
Year-end AFFO quarterly run rate guidance raised to $0.70 to $0.73 per share.
Net cash proceeds from homesite sales were $797 million, including $768 million from Lennar; the company also reported a $1 billion delayed draw term loan closed during the quarter.
InterDigital reported second-quarter 2025 revenue of $300.6 million, up 34% year over year, driven by the conclusion of the Samsung arbitration and a new license agreement with HP. The company raised its full-year 2025 revenue outlook to $790 million to $850 million from $660 million to $760 million, which matters to shareholders because it signals higher expected licensing revenue for the year.
Q2 2025 revenue of $300.6 million, up 34% year over year, and net income of $180.6 million, up 65%
Diluted EPS of $5.35 for the quarter, up 36% from $3.93 a year earlier
Full-year 2025 revenue outlook raised to $790 million to $850 million from $660 million to $760 million
Third-quarter 2025 revenue outlook of $136 million to $140 million, covering existing licenses only
National Fuel Gas reported third-quarter fiscal 2025 GAAP earnings of $149.8 million, or $1.64 per share, compared with a net loss of $54.2 million, or $0.59 per share, a year earlier. The company revised its fiscal 2025 adjusted EPS guidance to $6.80 to $6.95 and issued preliminary fiscal 2026 guidance of $8.00 to $8.50 per share at a $4.00 NYMEX gas price, which it says would be a 20% increase from fiscal 2025. It also raised its dividend 4% to an annual rate of $2.14 per share and paused share repurchases during the quarter.
Q3 adjusted EPS of $1.64 rose 66% from $0.99; Seneca produced a company-record 112 Bcf, up 16%
Fiscal 2025 adjusted EPS guidance revised to $6.80 to $6.95 per share
Preliminary fiscal 2026 adjusted EPS: $6.35 to $6.85 at $3.00 NYMEX, $8.00 to $8.50 at $4.00, $9.75 to $10.25 at $5.00
Dividend increased 4% to an annual rate of $2.14 per share; repurchases paused during the quarter
Vericel reported second quarter 2025 results for the period ended June 30, 2025, with total revenue up 20% to $63.2 million and a net loss of $0.6 million, or $0.01 per diluted share, versus $4.7 million a year earlier. The company reaffirmed its full-year MACI revenue growth and profitability guidance, which matters to shareholders because it shows revenue and earnings improving while the outlook was held steady.
Total net revenue rose to $63.2 million from $52.7 million; MACI net revenue grew 21% to $53.5 million.
Gross margin was 74%, up from 70% a year earlier; non-GAAP adjusted EBITDA rose 112% to $13.4 million.
Full-year 2025 guidance was reaffirmed for MACI revenue growth in the low 20% range and for a 74% gross margin and 26% adjusted EBITDA margin.
As of June 30, 2025, the company had approximately $164 million in cash and investments and no debt.
BGC Group reported record second-quarter 2025 revenue of $784.0 million, up 42.3% from $550.8 million a year earlier, and GAAP net income for fully diluted shares of $55.1 million, or $0.11 per share, compared with $36.1 million, or $0.08, in the prior-year quarter. The company also gave third-quarter revenue guidance of $715 million to $765 million and pre-tax Adjusted Earnings guidance of $150 million to $165 million, and set its 2025 annual meeting for November 12, 2025.
Q2 2025 revenues of $784.0 million, up 42.3%; excluding OTC, revenues rose 20.9% to $665.7 million.
GAAP fully diluted EPS of $0.11 vs. $0.08; post-tax Adjusted Earnings per share of $0.31 vs. $0.23.
Q3 2025 guidance: revenues of $715 million to $765 million and pre-tax Adjusted Earnings of $150 million to $165 million.
Quarterly dividend of $0.02 per share, payable September 3, 2025, to holders of record August 20, 2025; stockholder proposal deadline for the November 12 annual meeting is August 10, 2025.
Belden reported second quarter 2025 results, with revenue up 11% year over year to $672 million and GAAP diluted EPS of $1.53, up from $1.19. The company also gave third quarter guidance of $670 million to $685 million in revenue and adjusted EPS of $1.85 to $1.95, which shows the expected range for the coming quarter.
Q2 revenue $672 million, up 11% year over year and up 5% organically
Q2 GAAP diluted EPS $1.53 vs. $1.19 a year earlier; adjusted EPS $1.89 vs. $1.51
Q2 adjusted EPS benefited by $0.11 from a lower-than-expected tax rate, per the company
Q3 2025 guidance: revenue $670 million to $685 million; adjusted EPS $1.85 to $1.95
ATI reported second quarter 2025 sales of $1.14 billion, up 4% year over year, with net income attributable to ATI of $100.7 million, or $0.70 per diluted share, compared with $0.58 a year earlier. The company raised the mid-point of its full-year 2025 adjusted earnings and cash flow guidance and repurchased $250 million of stock in the quarter, bringing 2025 buybacks to $320 million.
Q2 2025 sales of $1.14 billion, up 4% year over year, with aerospace and defense sales of $761.8 million, or 67% of sales
Net income attributable to ATI of $100.7 million, up 23% year over year; adjusted EPS of $0.74 versus $0.60 a year earlier
Full-year 2025 adjusted EBITDA guidance of $810 million to $840 million and adjusted EPS guidance of $2.90 to $3.07; Q3 adjusted EBITDA guidance of $200 million to $210 million
Repurchased $250 million of common stock in Q2; $270 million of buyback authorization remains as of June 29, 2025
Intercontinental Exchange reported second-quarter 2025 results, with record net revenues of $2.5 billion, up 10% year over year, and GAAP diluted EPS of $1.48, up 35%. The company also gave updated guidance, including full-year 2025 Exchanges recurring revenue growth of 4% to 5%, which gives shareholders a view of expected near-term results.
Q2 2025 net revenues of $2.5 billion, up 10% year over year; net income attributable to ICE was $851 million
GAAP diluted EPS of $1.48 (up 35%); adjusted diluted EPS of $1.81 (up 19%)
Third-quarter 2025 GAAP operating expenses expected at $1.245 billion to $1.255 billion
Through June 30, 2025, ICE repurchased $496 million of common stock and paid $555 million in dividends
Baxter reported second-quarter 2025 sales from continuing operations of $2.81 billion, up 4% on a reported basis and 1% on an operational basis, which the company said was in line with its prior guidance. Adjusted diluted EPS from continuing operations rose 28% to $0.59, while U.S. GAAP diluted EPS from continuing operations was $0.24. The company also updated its full-year 2025 adjusted EPS guidance to $2.42 to $2.52.
Q2 2025 sales from continuing operations of $2.81 billion, up 4% reported and 1% operational
Adjusted diluted EPS from continuing operations of $0.59, up 28% from the prior year; GAAP diluted EPS from continuing operations of $0.24
Full-year 2025 adjusted EPS from continuing operations guidance of $2.42 to $2.52; third-quarter guidance of $0.58 to $0.62
Andrew Hider's appointment as president and CEO was previously announced July 7, 2025, with a start date by Sept. 3, 2025
Balchem reported second-quarter 2025 results for the quarter ended June 30, 2025, with net sales of $255.5 million, up 9.1% from the prior year quarter, and GAAP net earnings of $38.3 million, up 19.4%. All three reporting segments grew sales and earnings from operations, and the company repurchased $33.3 million of common stock during the quarter.
Net sales were $255.5 million, up $21.4 million, or 9.1%, from $234.1 million a year earlier.
GAAP diluted EPS was $1.17 versus $0.98; adjusted EPS was $1.27 versus $1.09.
Adjusted EBITDA was $69.2 million, up 11.2% from $62.3 million; free cash flow was $40.7 million.
Share repurchases totaled $33.3 million in the quarter, and the company announced a planned $36 million micro-encapsulation facility in Orange County, NY, subject to county approval.
Allegro MicroSystems reported results for the first fiscal quarter ended June 27, 2025, with net sales of $203.4 million, up 22% from a year earlier, and a GAAP net loss attributable to the company of $13.2 million, or $0.07 per share, narrower than the $17.7 million loss a year earlier. The company also guided second-quarter fiscal 2026 net sales to $205 million to $215 million and non-GAAP diluted EPS to $0.10 to $0.14, which it said is up 50% at the midpoint.
Net sales were $203.4 million, up from $166.9 million a year earlier; Industrial and other rose 50% and Automotive rose 13%.
GAAP net loss attributable to Allegro was $13.2 million, or $0.07 per share, versus a $17.7 million loss, or $0.09 per share, a year earlier.
Non-GAAP diluted EPS was $0.09, up from $0.03; free cash flow was $51.0 million, or 25.1% of net sales.
Second-quarter fiscal 2026 guidance: net sales of $205 million to $215 million and non-GAAP diluted EPS of $0.10 to $0.14, with an expected additional $25 million voluntary debt repayment.
Comcast reported second-quarter 2025 revenue of $30.3 billion, up 2.1% from a year earlier, and diluted EPS of $2.98 versus $1.00, with the increase driven by a $9.4 billion gain from the sale of its Hulu interest. Adjusted EPS rose 3.3% to $1.25, while Adjusted Net Income fell 1.7%, and the company returned $2.9 billion to shareholders through dividends and buybacks.
Revenue rose 2.1% to $30,313 million; Adjusted EBITDA rose 1.1% to $10,283 million
Net income attributable to Comcast was $11.1 billion, including the $9.4 billion Hulu gain, compared with $3.9 billion a year earlier
Free cash flow was $4.5 billion; the company paid $1.2 billion in dividends and repurchased $1.7 billion of shares
Domestic wireless added 378,000 lines in the quarter, the best quarterly result on record
Howmet Aerospace reported second quarter 2025 revenue of $2.05 billion, up 9% year over year, and net income of $407 million, or $1.00 per diluted share, versus $266 million, or $0.65, a year earlier. The company raised its full-year 2025 guidance on all metrics and increased its quarterly dividend by 20%, which benefits shareholders.
Net income was $407 million, or $1.00 per diluted share, versus $266 million, or $0.65, in second quarter 2024, including about $36 million in net benefits from special items.
Adjusted EPS excluding special items was $0.91, up 36% year over year; adjusted EBITDA excluding special items was $589 million, up 22%.
Repurchased $175 million of stock in second quarter 2025 and $100 million in July 2025; quarterly dividend raised 20% to $0.12 per share, payable August 25, 2025.
Shake Shack reported fiscal second-quarter 2025 results for the period ended June 25, 2025, with total revenue of $356.5 million, up 12.6% from a year earlier. Diluted earnings per share were $0.41, compared with $0.23 in the prior-year quarter, and operating income rose to $22.4 million from $10.8 million. The filing does not include updated guidance.
Total revenue $356.5 million, up 12.6% from $316.5 million; same-Shack sales up 1.8%
Net income attributable to Shake Shack Inc. $17.1 million, or $0.41 per diluted share, versus $9.7 million, or $0.23, a year earlier
Adjusted EBITDA $58.9 million, up 24.8%; restaurant-level profit margin 23.9% of Shack sales versus 22.0%
Opened 13 new Company-operated Shacks and nine new licensed Shacks in the quarter
Vulcan Materials reported second-quarter 2025 results, with total revenues of $2,102 million, up from $2,014 million a year earlier, and net earnings attributable to Vulcan of $321 million, up from $308 million. The company reaffirmed its full-year 2025 outlook of $2.35 billion to $2.55 billion in Adjusted EBITDA, which signals management expects the first-half gains to continue.
Q2 2025 total revenues were $2,102 million versus $2,014 million in Q2 2024.
Diluted EPS from continuing operations was $2.43, compared with $2.33 a year earlier.
Adjusted EBITDA was $660 million, up from $603 million, with an Adjusted EBITDA margin of 31.4% versus 29.9%.
Aggregates shipments fell 1% to 59.3 million tons, while freight-adjusted prices rose 5% to $22.11 per ton.
Teleflex reported second-quarter 2025 GAAP revenue of $780.9 million, up 4.2% from a year earlier, and GAAP diluted EPS from continuing operations of $2.77, compared with $1.69. The company raised its full-year 2025 guidance, which it says includes the BIOTRONIK Vascular Intervention business acquired at the start of the third quarter. Management said underlying adjusted constant currency revenue guidance, excluding the acquisition, is unchanged.
Adjusted diluted EPS from continuing operations was $3.73, compared with $3.42 in the prior year period; adjusted constant currency revenue growth was 1.0%.
2025 GAAP diluted EPS from continuing operations guidance was raised to $6.73 to $7.13, from $6.51 to $6.91.
2025 adjusted diluted EPS guidance was raised to $13.90 to $14.30, from $13.20 to $13.60.
The acquired BIOTRONIK business is expected to generate $204 million of revenue in the second half of 2025.
CMS Energy reported second-quarter 2025 diluted EPS of $0.66, up from $0.65 a year earlier, and adjusted EPS of $0.71, up from $0.66. Operating revenue rose to $1,838 million from $1,607 million. The company reaffirmed its 2025 adjusted EPS guidance of $3.54 to $3.60 per share, so shareholders' full-year expectations were not changed.
Q2 2025 operating revenue was $1,838 million, compared with $1,607 million in Q2 2024.
Q2 2025 net income available to common stockholders was $198 million, compared with $195 million; diluted EPS was $0.66 versus $0.65.
Adjusted EPS was $0.71 versus $0.66; the adjustments include a state tax policy change worth $0.04 per share.
2025 adjusted EPS guidance of $3.54 to $3.60 was reaffirmed, with long-term adjusted EPS growth of 6% to 8%; the company also reached an agreement with a new data center expected to add up to 1 gigawatt of load.
Quanta Services reported second-quarter 2025 revenue of $6.77 billion, up from $5.59 billion a year earlier, and GAAP diluted EPS of $1.52, up from $1.26. The company raised its full-year 2025 outlook and said the increase reflects its second-quarter results and the July 25, 2025 acquisition of Dynamic Systems for up to $1.566 billion.
Q2 2025 revenue was $6.77 billion versus $5.59 billion in Q2 2024; net income attributable to common stock was $229.3 million.
Q2 GAAP diluted EPS was $1.52 versus $1.26; adjusted diluted EPS was $2.48 versus $1.90.
Full-year 2025 revenue outlook is now $27.4 billion to $27.9 billion, and GAAP diluted EPS is now $6.47 to $7.07.
Dynamic Systems was acquired on July 25, 2025 for up to $1.566 billion, including a $216 million earnout; $202.5 million of base consideration was paid in Quanta common stock.
The Cigna Group reported second quarter 2025 total revenues of $67.2 billion, up 11% from a year earlier, and shareholders' net income of $1.5 billion, or $5.71 per share, compared with $5.45 per share in the second quarter of 2024. The company reaffirmed its full-year 2025 adjusted income from operations outlook of at least $29.60 per share, while adjusted income from operations at Cigna Healthcare fell 9% on higher medical costs.
Total revenues were $67.2 billion, up 11% from $60.5 billion in the second quarter of 2024.
Shareholders' net income was $1.5 billion, or $5.71 per share, versus $5.45 per share a year earlier.
Adjusted income from operations was $1.9 billion, or $7.20 per share, versus $6.72 per share; full-year 2025 outlook of at least $29.60 per share was reaffirmed.
Cigna Healthcare adjusted pre-tax income fell 9% to $1.1 billion, driven mainly by a medical care ratio of 83.2% versus 82.3%.
Euronet reported second-quarter 2025 results for the period ended June 30, 2025. Revenue rose 9% to $1,074.3 million and operating income rose 18% to $158.6 million, while diluted EPS was $2.27 versus $1.73 a year earlier and adjusted EPS rose 14% to $2.56. The company expects 2025 adjusted EPS to grow 12% to 16%, and the release references a merger agreement with CoreCard dated July 30, 2025.
Revenue of $1,074.3 million, up 9% from $986.2 million (6% on a constant currency basis)
Operating income of $158.6 million, up 18% from $134.3 million
Diluted EPS of $2.27 versus $1.73; adjusted EPS of $2.56 versus $2.25
2025 outlook calls for adjusted EPS growth of 12% to 16%; Agreement and Plan of Merger with CoreCard dated July 30, 2025
Willis Towers Watson reported second-quarter 2025 results on July 31, 2025. Reported revenue was flat at $2.26 billion because of the sale of TRANZACT, but organic revenue grew 5%, and both GAAP and adjusted diluted earnings per share rose from the prior-year quarter.
Diluted EPS was $3.32 versus $1.36 a year earlier; adjusted diluted EPS was $2.86 versus $2.39, up 20%.
Revenue was $2.26 billion, flat as reported and up 5% organically; the TRANZACT sale offset growth.
Operating margin was 16.3% versus 9.4%; adjusted operating margin was 18.5% versus 17.0%.
Free cash flow for the six months was $217 million versus $305 million, down $88 million; WTW repurchased 1,614,427 shares for $500 million in the quarter and expects 2025 repurchases of about $1.5 billion.
Pilgrim's Pride reported second-quarter 2025 net sales of $4.8 billion, up 4.3% from a year earlier, and GAAP EPS of $1.49 versus $1.37. The board also declared a $2.10 per share dividend, which the company says totals about $500 million, payable to holders of record on August 20, 2025.
Net sales were $4,757.4 million, up 4.3% from $4,559.3 million in the second quarter of 2024.
GAAP EPS was $1.49, up from $1.37; operating income was $512.3 million, up 16.2%.
The board declared a $2.10 per share dividend, about $500 million in total, to stockholders of record at the close of business on August 20, 2025.
Management will hold a conference call on July 31, 2025 at 7 a.m. MT (9 a.m. ET).
Xcel Energy reported second-quarter 2025 GAAP net income of $444 million, or $0.75 per diluted share, up from $302 million, or $0.54 per share, a year earlier. The company reaffirmed its 2025 ongoing EPS guidance of $3.75 to $3.85, and said higher recovery of infrastructure investments drove the increase, partly offset by higher interest, depreciation and O&M expenses.
Q2 2025 total operating revenues were $3,287 million, up from $3,028 million in Q2 2024.
Year-to-date diluted EPS was $1.59 in 2025, compared with $1.42 in 2024.
The 2025 ongoing EPS guidance of $3.75 to $3.85 was reaffirmed, not changed.
Higher interest charges, depreciation and O&M expenses partly offset the benefit of infrastructure cost recovery.
The Hanover Insurance Group reported second-quarter 2025 net income of $157.1 million, or $4.30 per diluted share, compared with $40.5 million, or $1.12 per share, a year earlier. Operating income was $158.7 million, or $4.35 per diluted share, and the combined ratio improved to 92.5% from 99.2%, which points to much stronger underwriting and earnings for shareholders. The filing does not include new guidance, and the company said it has returned about $124 million to shareholders so far this year through dividends and share repurchases.
Net income of $157.1 million, or $4.30 per diluted share, versus $40.5 million, or $1.12, in Q2 2024
Operating income of $158.7 million, or $4.35 per diluted share; operating return on equity of 18.7%
Combined ratio of 92.5% versus 99.2% a year earlier; catastrophe losses of $107.5 million
About $124 million returned to shareholders in 2025 through dividends and buybacks; about $244 million of buyback capacity remains
Tetra Tech reported third-quarter fiscal 2025 results for the period ended June 29, 2025, with revenue of $1.37 billion, net revenue of $1.15 billion, operating income of $165 million and EPS of $0.43, up 34% year over year. The company also gave fiscal 2025 net revenue guidance of $4.454 billion to $4.554 billion and adjusted EPS guidance of $1.49 to $1.54, and declared a $0.065 per share quarterly dividend.
Q3 revenue $1.37 billion and net revenue $1.15 billion; operating income $165 million, up 28% year over year
Q3 EPS $0.43, up 34% year over year; Q3 operating cash flow was $350 million in the release headline table (nine-month operating cash flow $356.8 million)
Fiscal 2025 guidance: net revenue $4.454 billion to $4.554 billion; adjusted EPS $1.49 to $1.54; Q4 net revenue $1.0 billion to $1.1 billion and EPS $0.38 to $0.43
Quarterly dividend of $0.065 per share, payable August 29, 2025, to holders of record on August 15, 2025; $25 million of stock repurchased in Q3 and $648 million remaining under repurchase programs
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