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).
KBR reported second quarter fiscal 2025 revenue of $2.0 billion, up 6%, and Adjusted EBITDA of $242 million, up 12%, but GAAP net income attributable to KBR fell 31% to $73 million, mainly due to the HomeSafe contract termination. The company also lowered its fiscal 2025 revenue guidance to $7.9 billion to $8.1 billion from $8.7 billion to $9.1 billion and cut its fiscal 2027 revenue target to $9.0 billion or more from $11.5 billion or more.
Q2 fiscal 2025 revenues were $1,952 million, up 6%; diluted EPS including discontinued operations was $0.56, down 29%
Adjusted EPS was $0.91, up 10%; Adjusted EBITDA was $242 million, up 12%
Fiscal 2025 revenue guidance cut to $7.9 billion to $8.1 billion; Adjusted EPS guidance narrowed to $3.78 to $3.88
Fiscal 2027 revenue target lowered to $9.0 billion or more from $11.5 billion or more; operating cash flow target lowered to $650 million or more from $700 million or more
PG&E Corporation reported second-quarter 2025 results on July 31, 2025. GAAP and non-GAAP core earnings were each $0.24 and $0.31 per share, flat with a year earlier, while total operating revenues fell to $5.9 billion from $6.0 billion. The company lowered its full-year 2025 GAAP EPS guidance to $1.26 to $1.32 from $1.29 to $1.35 but reaffirmed non-GAAP core EPS guidance of $1.48 to $1.52, so shareholders face a lower GAAP outlook while the core measure is unchanged.
Q2 2025 income available for common shareholders was $521 million, or $0.24 per share, versus $520 million, or $0.24 per share, in Q2 2024.
Total operating revenues were $5,898 million for Q2 2025, compared with $5,986 million a year earlier.
2025 GAAP EPS guidance was updated to $1.26 to $1.32 from $1.29 to $1.35; non-GAAP core EPS guidance was reaffirmed at $1.48 to $1.52.
Non-core items totaled $154 million after tax, or $0.07 per share, in Q2 2025, the same as in Q2 2024.
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).
Cactus reported second-quarter 2025 revenue of $273.6 million and net income of $49.0 million, both lower than a year earlier, with diluted earnings per Class A share of $0.59 versus $0.75. The company expects third-quarter revenue to be down modestly in both segments as U.S. land activity declines, and it agreed to acquire a 65% majority interest in Baker Hughes' Surface Pressure Control business.
Q2 2025 revenue was $273.6 million, versus $290.4 million in Q2 2024; net income was $49.0 million, versus $63.1 million
Adjusted EBITDA was $86.7 million with a 31.7% margin, versus $103.6 million and 35.7% a year earlier
Management expects third-quarter 2025 revenues to be down modestly in both the Pressure Control and Spoolable Technologies segments
Quarterly Class A dividend raised 8% to $0.14 per share, payable September 18, 2025 to holders of record on August 29, 2025
Verisk agreed on July 29, 2025 to acquire ExactLogix, which operates as AccuLynx, for an aggregate purchase price of $2.35 billion in cash, subject to customary adjustments. The company said it will fund the deal through committed debt financing and cash on hand, and that closing is expected in the second half of 2025, subject to regulatory approvals and other conditions. Verisk said the deal is expected to be additive to revenue growth and adjusted EBITDA margin and accretive to adjusted EPS by year end 2026.
Merger agreement dated July 29, 2025; ExactLogix will survive as a wholly owned subsidiary of Verisk
Aggregate purchase price of $2.35 billion in cash, subject to adjustments for indebtedness, cash, working capital and transaction expenses
Funding through committed debt financing and cash on hand; Goldman Sachs Bank USA is lead arranger on bridge financing
Closing expected in the second half of 2025, subject to ExactLogix equityholder approval, HSR antitrust waiting period expiration and no material adverse effect
Antero Midstream reported second quarter 2025 net income of $125 million, or $0.26 per diluted share, up 44% per share from a year earlier, and Adjusted EBITDA of $284 million, up 11%. The company raised its 2025 guidance for net income and Adjusted EBITDA by $10 million at the midpoint and for Free Cash Flow after dividends by $25 million, to a range of $275 million to $325 million.
Q2 2025 net income was $125 million, or $0.26 per diluted share, versus $0.18 a year earlier
Adjusted EBITDA was $284 million, up 11% year over year; Free Cash Flow after dividends was $82 million, up 89%
2025 guidance: net income midpoint raised $10 million; Free Cash Flow after dividends now $275 million to $325 million
Leverage fell to 2.8x as of June 30, 2025; about $83 million of shares bought back year to date through July 30, 2025
CVR Energy reported a second quarter 2025 net loss attributable to stockholders of $114 million, or $1.14 per diluted share, compared with net income of $21 million, or 21 cents per share, a year earlier. Net sales fell to $1,761 million from $1,967 million. The company also said CEO Dave Lamp will retire effective December 31, 2025, and Mark Pytosh is expected to succeed him on January 1, 2026.
Net loss attributable to CVR Energy stockholders of $114 million ($1.14 per diluted share) versus net income of $21 million (21 cents) in Q2 2024
Adjusted loss of 23 cents per diluted share, compared with adjusted earnings of 9 cents a year earlier
Petroleum Segment net loss of $137 million, including an $89 million unfavorable mark-to-market impact on its Renewable Fuel Standard obligation
Mark Pytosh expected to become President and CEO on January 1, 2026; Brett Icahn appointed to the Board effective August 1, 2025
Antero Resources reported second quarter 2025 results with net income of $157 million, compared with a loss of $80 million a year earlier, and Adjusted EBITDAX of $379 million. The company raised its full-year 2025 production guidance to 3.4 to 3.45 Bcfe/d and lowered its drilling and completion capital budget to $650 to $675 million, while reducing debt and buying back shares.
Net income was $157 million in Q2 2025 versus a loss of $80 million in Q2 2024; Adjusted Net Income was $110 million (non-GAAP).
Full-year 2025 production guidance raised to 3.4 to 3.45 Bcfe/d; drilling and completion capital budget cut to $650 to $675 million.
Net debt fell $187 million during the quarter to $1.1 billion; the company bought 3.6 million shares for about $126 million from April 1 to July 30, 2025.
Conference call scheduled for Thursday, July 31, 2025 at 9:00 am MT.
VSE reported second-quarter 2025 revenue of $272.1 million, up 41.1%, and adjusted EBITDA of $43.5 million, up 51.9%, with net income from continuing operations of $13.6 million. The company reaffirmed its 2025 revenue growth outlook of 35% to 40% and narrowed its Aviation adjusted EBITDA margin guidance to 16.5% to 17%, while a $10.4 million loss from discontinued operations left total quarterly net income at $3.2 million.
Revenue of $272.1 million, up 41.1% from $192.8 million in the second quarter of 2024.
Net income from continuing operations of $13.6 million, or $0.66 diluted EPS, versus a loss of $5.3 million, or $0.31 per share, a year earlier.
Full-year 2025 revenue growth guidance of 35% to 40% reaffirmed; Aviation adjusted EBITDA margin guidance raised to 16.5% to 17% from 16% to 17%.
Total net income of $3.2 million after a $10.4 million loss from discontinued operations; six-month net loss of $5.8 million.
Host Hotels & Resorts reported second-quarter 2025 revenue of $1,586 million, up 8.2% from $1,466 million a year earlier, and raised its full-year 2025 guidance for net income and diluted earnings per share. Net income fell 7.0% to $225 million and diluted earnings per share fell 5.9% to $0.32, mainly because of a $47 million decrease in net gains on insurance settlements.
Q2 2025 revenue $1,586 million vs. $1,466 million in Q2 2024 (up 8.2%); diluted EPS $0.32 vs. $0.34 (down 5.9%)
Net income $225 million, down 7.0%, reflecting a $47 million decrease in net gains on insurance settlements
Full-year 2025 net income guidance raised to $601 to $631 million from $512 to $581 million; diluted EPS guidance raised to $0.85 to $0.90 from $0.72 to $0.82
Sold The Westin Cincinnati for $60 million and repurchased $105 million of common stock in Q2 2025
American Water reported second-quarter 2025 diluted earnings of $1.48 per share, up from $1.42 a year earlier, and first-half earnings of $2.53 per share, up from $2.37. The company narrowed its 2025 EPS guidance to $5.70 to $5.75 from $5.65 to $5.75, on a weather-normalized basis, which raises the low end of the range and affirms its long-term targets. Shareholders also get a quarterly dividend of $0.8275 per share and news of a pending purchase of Nexus Water Group systems.
Q2 2025 operating revenues were $1,276 million, up from $1,149 million; Q2 net income attributable to common shareholders was $289 million, up from $277 million.
2025 EPS guidance range is now $5.70 to $5.75, narrowed from $5.65 to $5.75; long-term EPS and dividend growth targets of 7-9% were affirmed.
Q2 results include an estimated net unfavorable weather impact of $0.06 per share for the quarter and the six-month comparison.
Board declared a quarterly dividend of $0.8275 per share, payable September 3, 2025, to holders of record as of August 12, 2025.
Silgan Holdings reported second quarter 2025 net sales of $1.54 billion, up 11%, and net income of $89.0 million, or $0.83 per diluted share, compared with $0.71 a year earlier. The company cut its full-year 2025 adjusted EPS estimate to $3.85 to $4.05 from $4.00 to $4.20 and lowered its free cash flow estimate to about $430 million, citing lower specialty closures volumes and a recent customer bankruptcy in North American Metal Containers.
Q2 2025 net sales were $1.54 billion, up $157.8 million or 11%, mainly from the Weener acquisition and the pass-through of higher raw material costs.
Q2 2025 net income was $89.0 million, or $0.83 per diluted share, versus $0.71 in Q2 2024; adjusted EPS rose 15% to $1.01.
2025 adjusted EPS estimate was lowered to $3.85 to $4.05 from $4.00 to $4.20.
2025 free cash flow estimate was lowered to about $430 million from about $450 million.
TTM Technologies reported second-quarter 2025 net sales of $730.6 million, up 21% from a year earlier, and GAAP net income of $41.5 million, or $0.40 per diluted share, compared with $26.4 million, or $0.25, in the second quarter of 2024. The company guided third-quarter revenue to $690 million to $730 million and non-GAAP earnings to $0.57 to $0.63 per diluted share, while CEO Thomas T. Edman said he intends to retire once a successor is appointed, with the board's search expected to conclude by the end of 2025.
Q2 2025 net sales were $730.6 million, up from $605.1 million in Q2 2024; GAAP net income was $41.5 million, or $0.40 per diluted share, versus $0.25 a year earlier.
Non-GAAP net income was $60.8 million, or $0.58 per diluted share, compared with $0.39 in Q2 2024.
Q3 2025 guidance: revenue of $690 million to $730 million and non-GAAP net income of $0.57 to $0.63 per diluted share.
Thomas T. Edman will remain President and CEO until a successor is appointed and will stay on the board; the search is expected to conclude by the end of 2025.
Ventas reported second-quarter 2025 normalized FFO of $0.87 per share, up 9% from $0.80 a year earlier, and attributable net income of $0.15 per share, up from $0.05. The REIT raised its full-year 2025 normalized FFO per share guidance midpoint to $3.44 from $3.41 and increased its 2025 investment volume expectation to $2 billion from $1.5 billion, which points to higher expected earnings for shareholders.
Q2 2025 normalized FFO per share was $0.87, compared with $0.80 in Q2 2024; Nareit FFO per share was $0.86, compared with $0.77.
Full-year 2025 normalized FFO per share guidance range was raised to $3.41 to $3.46 from $3.36 to $3.46, with the midpoint at $3.44 versus $3.41 previously.
Senior housing operating portfolio same-store cash NOI grew 13% year over year in the second quarter.
2025 investment volume expectation was increased to $2 billion from $1.5 billion; liquidity was $4.7 billion as of June 30, 2025.
Wendy's Co disclosed that Ken Cook has been appointed Interim Chief Executive Officer. The Compensation and Human Capital Committee approved one-time stock-based retention awards for the executive leadership team, excluding Cook, to support continuity during the leadership transition. The awards are set to be granted August 12, 2025, and the filing does not disclose any change in financial results.
Ken Cook appointed Interim Chief Executive Officer of The Wendy's Company
Committee approved one-time retention awards on July 24, 2025, effective grant date August 12, 2025
E.J. Wunsch (President, International) grant date fair value of $1,520,000; Lindsay J. Radkoski (CMO, U.S.) $700,000
Awards are three-quarters restricted stock units and one-quarter stock options, vesting over two years
Albany International appointed Willard Station as Executive Vice President and Chief Financial Officer, effective September 1, 2025, succeeding interim CFO Jairaj (JC) Chetnani, who has held the role since May 23, 2025. The filing also discloses an initial base salary of $600,000 and a $2.0 million sign-on equity award for Mr. Station.
Willard Station, 49, becomes EVP and CFO and Principal Financial Officer effective September 1, 2025
Initial base salary of $600,000; target annual bonus equal to 75% of base salary
Sign-on RSU award valued at $2.0 million, vesting in thirds on the first, second and third anniversaries of employment
Mr. Station previously served as SVP of Primary Care Sales at McKesson Medical-Surgical since April 2024 and spent 16 years at The Boeing Company
Rush Street Interactive reported second-quarter 2025 revenue of $269.2 million, up 22% from a year earlier, and net income of $28.8 million, compared with a net loss of $0.3 million in the second quarter of 2024. The company raised its full-year 2025 revenue and Adjusted EBITDA guidance, which points to higher expected results for shareholders, though GAAP results include a $112.7 million tax receivable agreement expense in the quarter.
Revenue was $269.2 million, up 22% from $220.4 million in the second quarter of 2024.
Net income was $28.8 million, versus a net loss of $0.3 million a year earlier; the quarter included $112.7 million of tax receivable agreement expense.
Adjusted EBITDA was $40.2 million, up 88% from $21.4 million.
2025 revenue guidance was raised to $1,050 million to $1,100 million, and Adjusted EBITDA guidance to $133 million to $147 million.
Q2 Holdings reported second-quarter 2025 revenue of $195.1 million, up 13% from a year earlier, and GAAP net income of $11.8 million, compared with a net loss of $13.1 million in the prior-year quarter. The company raised its full-year 2025 guidance for revenue, adjusted EBITDA and free cash flow conversion, and it gave third-quarter guidance. The results and higher outlook matter to shareholders because they show revenue growth and profitability improving compared with last year.
Q2 2025 revenue was $195.1 million, up 13% year over year and 3% from the first quarter of 2025.
GAAP net income was $11.8 million, compared with a net loss of $13.1 million in Q2 2024; adjusted EBITDA was $45.8 million, up from $29.9 million.
Full-year 2025 revenue guidance is $783.0 million to $788.0 million, and adjusted EBITDA guidance is $177.0 million to $181.0 million.
Third-quarter 2025 revenue guidance is $196.0 million to $200.0 million, and adjusted EBITDA guidance is $44.0 million to $47.0 million.
Service Corporation International reported second-quarter 2025 revenue of $1,065.4 million, up from $1,034.0 million a year earlier, and diluted earnings per share of $0.86, up from $0.81. The company confirmed its 2025 earnings per share guidance of $3.70 to $4.00 and raised its 2025 cash flow guidance to $880 million to $940 million, which matters to shareholders because it reflects the company's expected cash generation for the year. Operating cash flow for the quarter fell to $166.5 million from $196.9 million, which the company attributed to an expected $84.3 million increase in cash taxes paid.
Revenue was $1,065.4 million in the second quarter of 2025 versus $1,034.0 million in the second quarter of 2024.
Diluted EPS was $0.86 versus $0.81; adjusted diluted EPS, excluding special items, was $0.88 versus $0.79.
2025 diluted EPS excluding special items guidance was confirmed at $3.70 to $4.00.
2025 net cash provided by operating activities excluding special items guidance was raised to $880 million to $940 million from $830 million to $890 million.
MYR Group reported second-quarter 2025 revenue of $900.3 million, up $71.4 million from a year earlier, and net income of $26.5 million, or $1.70 per diluted share, compared with a net loss of $15.3 million, or $0.91 per share, in the same period of 2024. The Board also approved a new share repurchase program of up to $75.0 million, which replaces a prior $75.0 million program that the company said had substantially run out of funds.
Q2 2025 revenue of $900.3 million, up $71.4 million from Q2 2024
Net income of $26.5 million, or $1.70 per diluted share, versus a net loss of $15.3 million a year earlier
Backlog of $2.64 billion as of June 30, 2025, up $97.7 million, or 3.8 percent, from June 30, 2024
New repurchase program of up to $75.0 million, expiring February 4, 2026 or when funds are exhausted, to be funded with cash on hand and credit facility borrowings
Sun Communities reported a second-quarter net loss from continuing operations of $92.2 million, or $1.23 per diluted share, while net income attributable to common shareholders reached $1.3 billion, or $10.02 per diluted share, after the Safe Harbor Sale. Core FFO per share fell to $1.76 from $1.86 a year earlier, but the company raised its full-year 2025 Core FFO per share guidance to $6.51 to $6.67.
Net loss from continuing operations of $92.2 million ($1.23 per diluted share) versus net income of $32.7 million ($0.21) a year earlier
Net income attributable to common shareholders of $1.3 billion ($10.02 per diluted share), versus $52.1 million ($0.42) a year earlier; Safe Harbor Sale gain of $1.4 billion
Core FFO per share of $1.76 versus $1.86 a year earlier; full-year 2025 Core FFO guidance raised to $6.51 to $6.67
Charles D. Young becomes CEO effective October 1, 2025, succeeding Gary Shiffman
Element Solutions reported second quarter 2025 net sales of $625 million, up 2% on a reported basis and 6% organically, while reported net income fell 49% to $48 million and GAAP diluted EPS fell to $0.20 from $0.38. The company said it recently increased its full year 2025 adjusted EBITDA guidance to $530 million to $550 million, which signals management's view of stronger operating earnings even as GAAP profit declined.
Q2 2025 net sales were $625 million, up 2% reported and 6% organic; Electronics sales rose 12% to $439 million
Reported net income was $48 million versus $93 million a year earlier; adjusted EBITDA was $136 million, up 1%
Full year 2025 adjusted EBITDA guidance is $530 million to $550 million; third quarter adjusted EBITDA is expected at $140 million to $145 million
Company repurchased 0.9 million shares for approximately $19.5 million in Q2; about $562 million remained under its buyback authorization at June 30, 2025
UDR reported second quarter 2025 net income of $0.11 per diluted share, up from $0.08 a year earlier, and FFO of $0.61 per diluted share, up from $0.60. Total revenue rose 2.4% to $425.4 million. The company raised its full-year 2025 FFOA per diluted share and same-store revenue guidance, but lowered its full-year FFO and net income per diluted share guidance, so shareholders see higher FFOA expectations alongside lower FFO expectations.
Q2 2025 FFOA per diluted share was $0.64 versus $0.62 a year earlier and above the $0.61 to $0.63 guidance range; FFO was $0.61 versus $0.60.
Full-year 2025 FFOA per diluted share guidance was raised to $2.49 to $2.55 from $2.45 to $2.55, a $0.02 increase at the midpoint.
Full-year 2025 FFO per diluted share guidance was lowered to $2.42 to $2.48 from $2.45 to $2.55, and net income per diluted share guidance was lowered to $0.53 to $0.59 from $0.56 to $0.66.
Same-store revenue growth guidance was raised to 1.75% to 3.25%, and same-store occupancy was 96.9% for the quarter.
Enact Holdings reported second quarter 2025 GAAP net income of $168 million, or $1.11 per diluted share, down from $184 million, or $1.16, a year earlier, though up from $166 million in the first quarter. Total revenues rose to $304.9 million from $298.8 million a year earlier, while the company raised its full-year 2025 capital return guidance to approximately $400 million.
Adjusted operating income was $174 million, or $1.15 per diluted share, versus $201 million, or $1.27, in Q2 2024.
Total revenues were $304.9 million, compared with $298.8 million in Q2 2024.
Full-year 2025 capital return guidance increased to approximately $400 million, depending on business performance, market conditions and regulatory approvals.
Board declared a quarterly dividend of $0.21 per share, payable September 8, 2025, to holders of record on August 18, 2025.
FICO reported fiscal third-quarter 2025 results for the quarter ended June 30, 2025, with revenue of $536.4 million, up 20% from $447.8 million a year earlier. GAAP diluted earnings per share were $7.40, compared with $5.05, and the company raised its fiscal 2025 GAAP and non-GAAP earnings per share guidance, while revenue guidance stayed at $1.98 billion.
Quarterly revenue of $536.4 million vs. $447.8 million, up 20%
GAAP diluted EPS of $7.40 vs. $5.05; non-GAAP diluted EPS of $8.57 vs. $6.25
Fiscal 2025 GAAP diluted EPS guidance raised to $25.60 from $25.05; non-GAAP diluted EPS guidance raised to $29.15 from $28.58
Free cash flow of $276.2 million vs. $205.7 million in the prior year quarter
CONMED reported second-quarter 2025 sales of $342.3 million, up 3.1% from a year earlier, while GAAP diluted earnings per share fell to $0.69 from $0.96. The company raised its full-year adjusted EPS outlook to $4.40 to $4.55 from $4.31 to $4.46, and narrowed its reported revenue range to $1.356 billion to $1.378 billion, but said tariffs are expected to reduce EPS by about $0.09 in the second half.
Q2 net sales $342.3 million, up 3.1% year over year; Single-use Products up 6.6%, Capital Products down 15.5%
Q2 GAAP diluted EPS $0.69 vs. $0.96; adjusted diluted EPS $1.15 vs. $0.98 in Q2 2024
Full-year adjusted diluted EPS guidance raised to $4.40 to $4.55 from $4.31 to $4.46
Updated guidance includes an estimated $0.09 negative EPS impact from recent tariff announcements in the second half of 2025
Kite Realty Group reported net income attributable to common shareholders of $110.3 million, or $0.50 per diluted share, for the quarter ended June 30, 2025, compared with a net loss of $48.6 million a year earlier, which included $66.2 million of impairment charges. The company raised its 2025 NAREIT FFO and Core FFO guidance, which matters to shareholders because it signals higher expected operating results for the year.
Q2 2025 net income attributable to common shareholders was $110.3 million, or $0.50 per diluted share, versus a net loss of $48.6 million, or $0.22 per share, in Q2 2024.
Core FFO of the Operating Partnership was $0.50 per diluted share, the same as in Q2 2024.
2025 NAREIT FFO guidance raised to $2.06 to $2.10 per diluted share from $2.04 to $2.10; Core FFO guidance raised to $2.02 to $2.06 from $2.00 to $2.06.
Third quarter 2025 dividend declared at $0.27 per common share, a 3.8% year-over-year increase.
Carlisle reported second-quarter 2025 revenue of $1.4 billion, flat year over year, and diluted EPS from continuing operations of $5.87, down from $5.94. Adjusted EPS rose to a record $6.27 from $6.24, but the company revised its full-year outlook to low-single-digit revenue growth and a 150 basis point decline in adjusted EBITDA margin, citing weaker new construction and residential markets.
Q2 2025 revenue was $1,449.5 million versus $1,450.6 million a year earlier, down 0.1%.
Diluted EPS from continuing operations was $5.87 versus $5.94; adjusted EPS was a record $6.27 versus $6.24.
FY 2025 outlook now calls for low-single-digit revenue growth and adjusted EBITDA margins down 150 basis points.
CWT operating income fell 28% to $43 million in the quarter on lower volumes.
Merit Medical reported second-quarter 2025 revenue of $382.5 million, up 13.2% from a year earlier, and raised its full-year 2025 net sales and non-GAAP earnings per share guidance. GAAP earnings per share fell to $0.54 from $0.61, while non-GAAP earnings per share rose to $1.01 from $0.92. The company also named Martha Aronson as its new President and Chief Executive Officer, effective October 3, 2025.
Q2 2025 net sales were $382.5 million, up 13.2%; constant currency revenue, organic, rose 6.7%
2025 net sales guidance raised to $1.495 billion to $1.507 billion from $1.480 billion to $1.501 billion
2025 non-GAAP EPS guidance raised to $3.52 to $3.72 from $3.28 to $3.41
Martha Aronson named President and CEO, effective October 3, 2025
VICI Properties reported second-quarter 2025 results on July 30, 2025, with revenue up 4.6% year over year to $1.0 billion and AFFO up 6.4% to $630.2 million. The company raised its full-year 2025 AFFO guidance to $2,500 million to $2,520 million, or $2.35 to $2.37 per diluted share, from $2,470 million to $2,500 million, or $2.33 to $2.36 per share, previously. Net income rose 16.7% to $865.1 million, but the company said the increase was driven largely by a $99.0 million change in the non-cash CECL allowance.
Second-quarter revenue was $1.0 billion, up 4.6% from $957.0 million a year earlier.
AFFO was $630.2 million, or $0.60 per share, up 4.9% per share from $0.57.
Net income was $865.1 million, or $0.82 per share, driven by a $99.0 million change in the CECL allowance.
Full-year 2025 AFFO per share guidance was raised to $2.35 to $2.37 from $2.33 to $2.36.
Equinix reported second-quarter 2025 revenue of $2.256 billion, up 4% from a year earlier, with net income attributable to common stockholders of $368 million and diluted earnings per share of $3.75, up 19%. The company raised its full-year 2025 guidance for revenue, adjusted EBITDA and AFFO, which gives shareholders a higher outlook for the year.
Q2 2025 revenue $2.256 billion, up 4% as reported; operating income $494 million
Net income attributable to common stockholders $368 million, up 22%; diluted EPS $3.75, up 19%
2025 revenue guidance raised to $9.233 to $9.333 billion; adjusted EBITDA guidance raised to $4.517 to $4.597 billion
Q3 2025 revenue guidance set at $2.314 to $2.334 billion
EPR Properties reported second-quarter 2025 total revenue of $178.1 million, up 2.9% from $173.1 million, and net income available to common shareholders of $69.6 million, up from $39.1 million a year earlier. The company confirmed its 2025 FFOAA per diluted share guidance of $5.00 to $5.16 and raised its disposition proceeds guidance to $130.0 million to $145.0 million. It also said Chief Investment Officer Gregory E. Zimmerman will retire in the first quarter of 2026, with Ben Fox expected to succeed him.
Total revenue $178.1 million, up 2.9% from $173.1 million; net income available to common shareholders $69.6 million vs. $39.1 million
FFOAA per diluted common share $1.26 vs. $1.22 (up 3.3%); AFFO per diluted common share $1.24 vs. $1.20
2025 FFOAA per diluted common share guidance confirmed at $5.00 to $5.16; disposition proceeds guidance raised to $130.0 million to $145.0 million from $80.0 million to $120.0 million
Gregory E. Zimmerman to retire as Chief Investment Officer in Q1 2026; Ben Fox joins in August 2025 as Executive Vice President and is expected to succeed him
Mid-America Apartment Communities reported second-quarter 2025 diluted earnings per share of $0.92, up from $0.86 a year earlier, while diluted Core FFO per share fell to $2.15 from $2.22. The company lowered its full-year 2025 earnings per share guidance to a range of $5.25 to $5.49, with a midpoint of $5.37 versus the prior $5.67, and kept its Core FFO midpoint at $8.77.
Q2 2025 diluted EPS was $0.92 versus $0.86 in Q2 2024; six-month EPS was $2.46 versus $2.09.
Q2 2025 diluted Core FFO per share was $2.15 versus $2.22 in Q2 2024.
Full-year 2025 EPS guidance revised to $5.25 to $5.49 from $5.51 to $5.83.
Full-year 2025 Core FFO guidance range narrowed to $8.65 to $8.89 from $8.61 to $8.93; midpoint unchanged at $8.77.
Western Digital reported fiscal fourth quarter 2025 revenue of $2.61 billion, up 30% from a year earlier, with GAAP diluted EPS of $0.67 and non-GAAP diluted EPS of $1.66. The company guided fiscal first quarter 2026 revenue to a $2.7 billion midpoint and non-GAAP diluted EPS to $1.54, and it announced a $2.0 billion share repurchase program and a $0.10 quarterly dividend.
Q4 FY25 revenue of $2.61 billion, up 30% year over year; GAAP operating income of $680 million
GAAP diluted EPS of $0.67 and non-GAAP diluted EPS of $1.66 for the quarter
Q1 FY26 guidance: revenue of $2.7 billion at the midpoint and non-GAAP diluted EPS of $1.54 at the midpoint
Board declared a $0.10 per share cash dividend payable September 18, 2025, and a $2.0 billion share repurchase program was authorized
Broadstone Net Lease reported second-quarter 2025 revenue of $113.0 million, up from $105.9 million a year earlier, and AFFO of $74.3 million, or $0.38 per diluted share. The company raised its full-year 2025 AFFO guidance to $1.48 to $1.50 per diluted share from $1.45 to $1.49, but net income fell 44.8% to $19.8 million, mainly due to an $8.1 million increase in impairment provisions.
Q2 2025 revenue was $112,986 thousand versus $105,907 thousand in Q2 2024
Q2 2025 net income was $19.8 million, or $0.10 per diluted share, down 44.8% year over year
AFFO was $74.3 million, or $0.38 per diluted share, up 5.6% year over year
Quarterly dividend declared at $0.29 per share, payable on or before October 15, 2025
Glaukos reported record second-quarter 2025 net sales of $124.1 million, up 30% from $95.7 million a year earlier, and a net loss of $19.7 million, or $0.34 per diluted share, versus a $50.5 million loss ($1.00 per share) in the prior-year quarter. The company raised its full-year 2025 net sales guidance to $480 million to $486 million from $475 million to $485 million, and ended the quarter with $278.6 million in cash, short-term investments and restricted cash and no debt.
Q2 2025 net sales of $124.1 million, up 30% from $95.7 million in Q2 2024
Net loss of $19.7 million, or $0.34 per diluted share, compared with $50.5 million, or $1.00 per share, in Q2 2024
2025 net sales guidance raised to $480 million to $486 million from $475 million to $485 million
Cash, short-term investments and restricted cash of $278.6 million at June 30, 2025, with no debt
TransMedics reported second-quarter 2025 revenue of $157.4 million, up 38% from $114.3 million a year earlier, and net income of $34.9 million, or $0.92 per diluted share, versus $12.2 million in the prior-year quarter. The company raised its full-year 2025 revenue guidance to $585 million to $605 million from the prior range of $565 million to $585 million, which is the main development for shareholders.
Q2 2025 total revenue was $157.4 million, up 38% from $114.3 million in Q2 2024
Q2 2025 net income was $34.9 million, or $0.92 per diluted share, compared with $12.2 million, or $0.35 per diluted share, a year earlier
Full-year 2025 revenue guidance raised to $585 million to $605 million from $565 million to $585 million
Gross margin was 61%, consistent with the prior-year quarter; operating expenses rose to $60.0 million from $56.8 million
Align Technology reported second quarter 2025 revenue of $1,012.4 million, down 1.6% from a year earlier, while GAAP diluted earnings per share rose to $1.72 from $1.28. The company said Q2 results were below its outlook and announced actions to reduce its workforce and optimize manufacturing, with one-time charges of $150 million to $170 million expected in the second half of 2025.
Q2 2025 revenue was $1,012.4 million, down 1.6% year-over-year and up 3.4% sequentially.
Q2 2025 GAAP diluted EPS was $1.72 versus $1.28 in Q2 2024; non-GAAP diluted EPS was $2.49.
Q3 2025 worldwide revenue is expected to be $965 million to $985 million, down sequentially from Q2.
One-time charges of $150 million to $170 million are expected in the second half of 2025; FY 2025 GAAP operating margin is expected at 13% to 14%.
Evertec reported second-quarter 2025 revenue of $229.6 million, up 8% from a year earlier, and GAAP net income attributable to common shareholders of $40.5 million, or $0.62 per diluted share, up 27%. The company raised its full-year 2025 revenue and adjusted earnings per share outlook and increased its share repurchase authorization to $150 million through December 31, 2026, from about $134 million previously remaining. For shareholders, the higher outlook and larger buyback capacity are the key changes disclosed in this filing.
Q2 2025 revenue was $229.6 million, up 8%, or about 10% on a constant currency basis.
GAAP diluted EPS was $0.62 versus $0.49 a year earlier; adjusted EPS was $0.89, up 7%.
Revised 2025 outlook: revenue of $901 million to $909 million and adjusted EPS of $3.44 to $3.52.
Share repurchase authorization raised to $150 million through December 31, 2026, versus about $134 million remaining before the increase.
Ford reported record second-quarter 2025 revenue of $50.2 billion, up 5% year over year, but posted a net loss of $36 million, compared with net income of $1.8 billion a year earlier, mainly due to special charges. The company reinstated full-year 2025 adjusted EBIT guidance of $6.5 billion to $7.5 billion, below the $7.0 billion to $8.5 billion it first gave in February before withdrawing it in May.
Second-quarter revenue was $50.2 billion, up 5%; adjusted EBIT was $2.1 billion, including $0.8 billion of adverse net tariff-related impacts.
Net loss attributable to Ford was $36 million, or $0.01 per diluted share, versus net income of $1.8 billion, or $0.46 per share, a year earlier.
Full-year 2025 guidance: adjusted EBIT of $6.5 billion to $7.5 billion, adjusted free cash flow of $3.5 billion to $4.5 billion, and a net tariff-related headwind of about $2 billion.
Board declared a third-quarter regular dividend of 15 cents per share, payable Sept. 2 to holders of record at the close of business on Aug. 11.
F5 reported fiscal third-quarter 2025 revenue of $780 million, up 12% from a year earlier, and GAAP diluted earnings of $3.25 per share, up from $2.44. The company raised its fiscal 2025 revenue and earnings growth outlook, and Chair Alan J. Higginson said he will retire from the board at the 2026 annual meeting, which matters to shareholders for both results and board succession.
Q3 fiscal 2025 revenue was $780 million, up from $695 million; systems revenue rose 39% and software revenue rose 16%.
GAAP diluted EPS was $3.25 versus $2.44 a year earlier; non-GAAP diluted EPS was $4.16 versus $3.36.
Fiscal 2025 revenue growth is now implied at about 9% at the midpoint, up from prior guidance of 6.5% to 7.5%.
Chair Alan J. Higginson will not stand for re-nomination at the Annual Meeting expected in Spring 2026; he is expected to serve as Chair until then.
Independence Realty Trust reported second quarter 2025 net income available to common shares of $8.0 million, down from $10.4 million a year earlier, with diluted EPS of $0.03 versus $0.05. Same-store rental and other property revenue rose 1.0% and same-store NOI rose 2.0%, while CFFO per share held at $0.28. The company raised its 2025 full-year EPS guidance to $0.475-$0.535 from $0.19-$0.22, mainly reflecting gains on property sales, and kept its CFFO per share guidance at $1.165-$1.185.
Q2 2025 CFFO was $66.7 million versus $63.6 million a year earlier; CFFO per share was $0.28 in both periods.
Same-store NOI rose 2.0% and same-store average occupancy was 95.3%.
2025 EPS guidance was raised to $0.475-$0.535 from $0.19-$0.22; CFFO per share guidance was unchanged at $1.165-$1.185.
The company is under contract to acquire two Orlando, Florida properties for an aggregate purchase price of approximately $155 million, expected to close in Q3 2025.
Waystar reported second-quarter 2025 revenue of $270.7 million, up 15% from a year earlier, and GAAP net income of $32.2 million, compared with a net loss of $27.7 million in the same quarter of 2024. The company raised its full-year 2025 revenue and adjusted EBITDA guidance, though the guidance excludes its previously announced Iodine Software acquisition.
Q2 2025 revenue of $270.7 million, up 15% year-over-year from $234.5 million
GAAP net income of $32.2 million, or $0.18 per diluted share, versus a net loss of $27.7 million a year earlier
Full-year 2025 revenue guidance of $1.030 billion to $1.042 billion, and adjusted EBITDA guidance of $418 million to $426 million, both raised
Guidance excludes the previously announced acquisition of Iodine Software
Cognizant reported second-quarter 2025 revenue of $5.25 billion, up 8.1% year over year and above the high end of its guidance range, with GAAP diluted EPS of $1.31, up 15%. The company narrowed its 2025 constant-currency revenue growth guidance to 4.0% to 6.0% and raised its planned 2025 shareholder returns to $2.0 billion from $1.7 billion. Full-year adjusted operating margin guidance was unchanged at 15.5% to 15.7%.
Q2 2025 revenue of $5.25 billion, up 8.1% from $4.85 billion in Q2 2024; GAAP diluted EPS of $1.31 versus $1.14
Adjusted diluted EPS of $1.31 versus $1.17 a year earlier, up 12%
Planned 2025 shareholder returns raised to $2.0 billion from $1.7 billion; $885 million returned year to date
Full-year 2025 revenue guidance of $20.7 billion to $21.1 billion; adjusted EPS guidance of $5.08 to $5.22
Neurocrine Biosciences reported second-quarter 2025 net product sales of $682 million, up 17% year over year, and GAAP diluted earnings per share of $1.06 versus $0.63 a year earlier. The company narrowed its 2025 INGREZZA net product sales guidance to $2.5 billion to $2.55 billion from $2.5 billion to $2.6 billion, lowering the top of the range, and said a Phase 3 study of valbenazine in schizophrenia did not meet its primary endpoint.
Q2 2025 net product sales were $682 million: INGREZZA $624.4 million and CRENESSITY $53.2 million
GAAP net income was $107.5 million ($1.06 per diluted share) versus $65.0 million ($0.63) in Q2 2024; non-GAAP EPS was $1.65 versus $1.63
INGREZZA 2025 net product sales guidance narrowed to $2.5 billion to $2.55 billion from $2.5 billion to $2.6 billion
Company repurchased $18 million of stock in Q2 2025 and had $332 million remaining under its $500 million program as of June 30, 2025
Dexcom reported second-quarter 2025 revenue of $1.157 billion, up 15% year over year, and GAAP net income of $179.8 million, or $0.45 per diluted share, versus $143.5 million, or $0.35, a year earlier. The company raised its 2025 revenue guidance to $4.600 to $4.625 billion, and CEO Kevin Sayer will retire effective January 1, 2026, with President and COO Jake Leach succeeding him.
Q2 2025 revenue: $1.157 billion, up 15% year over year; U.S. revenue up 15% and international revenue up 16%
GAAP diluted EPS $0.45 vs. $0.35 in Q2 2024; non-GAAP operating margin 19.2%, down 30 basis points from Q2 2024
2025 revenue guidance raised to $4.600 to $4.625 billion (14% to 15% growth); other margin guidance reiterated
Jake Leach to become CEO and a director effective January 1, 2026; Kevin Sayer to remain executive chairman
PTC reported fiscal third-quarter 2025 results for the period ended June 30, 2025, with revenue of $644 million, up 24% from a year earlier, and GAAP diluted earnings per share of $1.17 compared with $0.57. The company raised its full-year fiscal 2025 guidance for revenue, earnings per share, non-GAAP earnings per share, ARR and free cash flow, and said it will continue share repurchases under a $2 billion authorization.
Q3 revenue was $644 million, up 24%; ARR was $2,416 million, up 14% as reported and 9.3% in constant currency.
FY25 revenue guidance was raised to $2,570 million to $2,630 million from $2,445 million to $2,565 million.
FY25 free cash flow guidance is about $850 million, and the company plans about $75 million of share repurchases in Q4 2025.
GAAP diluted EPS was $1.17 versus $0.57 a year earlier; non-GAAP diluted EPS was $1.64 versus $0.98.
Alignment Healthcare reported second-quarter 2025 revenue of $1,015.3 million, up 49.0% year over year, and net income of $15.7 million, compared with a net loss of $24.0 million a year earlier. The company raised its full-year 2025 outlook for membership, revenue, adjusted gross profit and adjusted EBITDA.
Q2 2025 total revenue was $1,015.3 million, up 49.0% from the prior-year quarter; net income was $15.7 million versus a $24.0 million loss in Q2 2024.
Adjusted EBITDA was $45.9 million in Q2 2025, compared with $6.0 million a year earlier; adjusted gross profit was $135.2 million.
Full-year 2025 revenue outlook is $3,885 million to $3,910 million, and adjusted EBITDA outlook is $69 million to $83 million.
Third-quarter 2025 revenue outlook is $970 million to $985 million, with health plan membership of 225,000 to 227,000 at September 30, 2025.
Magnolia Oil & Gas reported second quarter 2025 net income of $81.0 million, down from $105.1 million a year earlier, and diluted EPS of $0.41 versus $0.51. Total revenues were $319.0 million compared with $336.7 million, while production rose 9% to 98.2 thousand barrels of oil equivalent per day, and the company raised its full-year production growth outlook to about 10%. For shareholders, the weaker revenue and earnings contrast with higher output and continued buybacks and dividends.
Q2 2025 net income was $81.0 million versus $105.1 million, and diluted EPS was $0.41 versus $0.51.
Total revenues were $319.0 million versus $336.7 million; adjusted EBITDAX was $223.2 million versus $246.1 million.
Full-year 2025 production growth guidance was raised to about 10% from 7% to 9%, with D&C capital maintained at $430 million to $470 million.
The company repurchased 2.2 million shares for $48.7 million in the quarter and closed about $40 million of bolt-on acquisitions in late June and early July.
ITW reported second-quarter 2025 revenue of $4.1 billion, up 1%, with flat organic growth, and GAAP EPS of $2.58, up 2%. The company raised its full-year 2025 GAAP EPS guidance by $0.10 to a narrower range of $10.35 to $10.55 per share, which benefits shareholders if the outlook holds.
Q2 2025 revenue of $4.1 billion, up 1%; organic growth essentially flat
GAAP EPS of $2.58 in Q2, up 2%; operating margin 26.3%, up 10 basis points
Full-year 2025 GAAP EPS guidance raised to $10.35 to $10.55 per share from $10.15 to $10.55
Q2 free cash flow of $449 million, down from $571 million a year earlier; $375 million of shares repurchased in the quarter
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