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.
NewMarket reported second-quarter 2025 net income of $111.2 million, or $11.84 per share, compared with $111.6 million, or $11.63 per share, a year earlier. Second-quarter net sales fell to $698.5 million from $710.2 million, and petroleum additives operating profit declined to $139.8 million from $147.8 million, so shareholders see higher per-share earnings on slightly lower profit and sales.
Q2 2025 net sales were $698.5 million versus $710.2 million in Q2 2024; petroleum additives operating profit was $139.8 million versus $147.8 million.
First-half 2025 net income was $237.2 million, or $25.11 per share, compared with $219.4 million, or $22.87 per share, in the first half of 2024.
The company repurchased $77.2 million of common stock in the first half of 2025 and reported Net Debt to EBITDA of 1.0 as of June 30, 2025.
A conference call to review results is scheduled for 3:00 p.m. ET on July 31, 2025.
Franklin BSP Realty Trust, Inc. (NYSE: FBRT) reported GAAP net income of $24.4 million and distributable earnings of $29.0 million for the quarter ended June 30, 2025. Diluted EPS was $0.19, down from $0.20 in the first quarter, while book value per diluted share fell to $14.82 and the company declared a $0.355 common dividend. The company also completed its acquisition of NewPoint Holdings JV LLC on July 1, 2025, for $428.2 million.
GAAP net income of $24.4 million, up from $23.7 million in the first quarter of 2025; diluted EPS of $0.19 versus $0.20 in the first quarter
Distributable earnings of $29.0 million, or $0.27 per fully converted share, compared with a loss of $6.2 million in the first quarter
Book value of $14.82 per diluted share on a fully converted basis, and a common dividend of $0.355 per share
NewPoint Holdings JV LLC acquisition closed July 1, 2025 for total consideration of $428.2 million, including $337.3 million in cash
Benchmark Electronics reported second-quarter 2025 revenue of $642 million, down from $666 million a year earlier but up from $632 million in the first quarter. GAAP diluted EPS fell to $0.03 from $0.43 a year earlier, while non-GAAP EPS was $0.55 versus $0.57, and the company guided third-quarter non-GAAP EPS to $0.56 to $0.62.
Q2 2025 revenue $642 million, versus $666 million in Q2 2024 and $632 million in Q1 2025
GAAP diluted EPS $0.03 versus $0.43 a year earlier; non-GAAP diluted EPS $0.55 versus $0.57
Q2 included $10.4 million in discrete tax charges tied to foreign withholding tax and deferred tax liabilities in China
Q3 2025 guidance: revenue $635 million to $685 million; GAAP diluted EPS $0.28 to $0.34
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
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.
Morningstar reported second-quarter 2025 results on July 30, 2025, with revenue up 5.8% to $605.1 million and diluted net income per share up 30.6% to $2.09. Operating cash flow fell 35.2% to $99.0 million, mainly because of higher income tax payments, and free cash flow fell 48.3% to $62.4 million, while the company repurchased $112.0 million of its shares.
Revenue rose 5.8% to $605.1 million; organic revenue rose 5.9%.
Diluted EPS rose 30.6% to $2.09; adjusted diluted EPS rose 19.4% to $2.40.
Cash provided by operating activities fell 35.2% to $99.0 million; free cash flow fell 48.3% to $62.4 million.
The company repurchased 398,442 shares for $112.0 million in the quarter and paid $79.5 million in income tax payments.
C.H. Robinson reported second-quarter 2025 results for the period ended June 30, 2025. Diluted EPS rose 20.0% to $1.26 and income from operations rose 21.2% to $215.9 million, while total revenues fell 7.7% to $4.1 billion, mainly due to the divestiture of its Europe Surface Transportation business. Shareholders received $160.7 million in cash returns during the quarter.
Diluted EPS of $1.26, up 20.0%; adjusted diluted EPS of $1.29, up 12.2%
Total revenues fell 7.7% to $4.1 billion, primarily driven by the Europe Surface Transportation divestiture
Income from operations rose 21.2% to $215.9 million; cash generated by operations was $227.1 million
Cash returned to shareholders totaled $160.7 million, including $74.9 million in dividends and $85.8 million in buybacks
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
Extra Space Storage reported second-quarter 2025 results for the three months ended June 30, 2025. Net income attributable to common stockholders rose to $1.18 per diluted share, up 34.1% from a year earlier, while Core FFO fell 0.5% to $2.05 per diluted share and same-store revenue was flat. The company kept its full-year Core FFO midpoint at $8.15 by narrowing the range to $8.05 to $8.25, which shareholders may watch alongside slower same-store net operating income.
Q2 net income of $1.18 per diluted share, up 34.1%; FFO of $1.98 per diluted share, unchanged from the prior year
Q2 Core FFO of $2.05 per diluted share, down 0.5%; same-store revenue flat and same-store NOI down 3.1%
2025 Core FFO outlook narrowed to $8.05 to $8.25 from $8.00 to $8.30; CEO said the midpoints of FFO and same-store guidance were maintained
Company paid a $1.62 per share quarterly dividend and repurchased 68,585 shares for $8.6 million in the quarter
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.
Employers Holdings reported second-quarter 2025 results with net income of $29.7 million, down 6% from $31.7 million a year earlier, and diluted earnings per share of $1.23, down 2%. Net premiums earned rose 6% to $198.3 million, but the loss and loss adjustment expense ratio climbed from 57.9% to 70.7%, which the company linked to rising California cumulative trauma claims. The board also declared a $0.32 quarterly dividend.
Diluted EPS was $1.23 versus $1.25; adjusted diluted EPS fell 56% to $0.48 from $1.10.
Gross premiums written fell 2% to $203.3 million, while net premiums earned rose 6% to $198.3 million.
Loss and LAE ratio rose to 70.7% from 57.9%, and the company recorded no net prior-year reserve development from voluntary business in the quarter.
Quarterly dividend of $0.32 per share is payable August 27, 2025 to holders of record as of August 13, 2025; $99.4 million remains on the share repurchase authorization.
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.
Impinj reported second-quarter 2025 results on July 30, 2025. Revenue was $97.9 million, down from $102.5 million a year earlier, while GAAP net income rose to $11.6 million, or $0.39 per diluted share, from $10.0 million. The company guided third-quarter revenue to $91.0 million to $94.0 million and expects a GAAP net loss of $2.2 million to $0.7 million.
Q2 2025 revenue of $97.9 million, versus $102.5 million in Q2 2024
Q2 2025 GAAP net income of $11.6 million, or $0.39 per diluted share, versus $10.0 million, or $0.34, a year earlier
Q2 2025 adjusted EBITDA of $27.6 million, versus $26.8 million a year earlier
Q3 2025 outlook: revenue of $91.0 million to $94.0 million; GAAP net loss of $2.2 million to $0.7 million; adjusted EBITDA of $15.6 million to $17.1 million
Everest Group reported second quarter 2025 results on July 30, 2025. Net income was $680 million, or $16.10 per diluted share, down from $724 million, or $16.70 per diluted share, a year earlier, while net operating income rose to $734 million from $730 million. Underwriting income was $385 million and the combined ratio was 90.4%, compared with $358 million and 90.3% in the prior-year quarter.
Net income of $680 million ($16.10 per diluted share) vs. $724 million ($16.70) in Q2 2024
Net operating income of $734 million ($17.36 per diluted share) vs. $730 million ($16.85) in Q2 2024
Group gross written premium of $4.7 billion, down 0.7% on a comparable basis; Q2 pre-tax catastrophe losses of $20 million vs. $135 million a year earlier
Company repurchased $200 million of common shares in the quarter, and the annualized net income ROE was 18.2%
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
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.
MGM Resorts reported second-quarter 2025 consolidated net revenues of $4.4 billion, up 2% from a year earlier, and consolidated Adjusted EBITDA of $648 million, up from $635 million. Net income attributable to MGM Resorts fell to $49 million from $187 million, mainly due to a $208 million foreign currency transaction loss, and diluted EPS was $0.18 versus $0.60. The company also repurchased 8 million shares for $217 million and said about $2.1 billion remains under its repurchase program.
Consolidated net revenues of $4.4 billion in Q2 2025, up 2% year over year, led by MGM China and Regional Operations
Net income attributable to MGM Resorts of $49 million versus $187 million, due to a $208 million pre-tax foreign currency transaction loss
Diluted EPS of $0.18 versus $0.60; Adjusted EPS of $0.79 versus $0.86 in the prior year quarter
BetMGM venture upgraded its 2025 guidance, and about $2.1 billion remains under the share repurchase program as of June 30, 2025
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.
Genworth reported second-quarter 2025 results, with net income available to common stockholders of $51 million, or $0.12 per diluted share, compared with $76 million, or $0.17, a year earlier. Adjusted operating income was $68 million, or $0.16 per diluted share, down from $125 million a year earlier but up from $51 million in the first quarter of 2025, and total revenues rose slightly year over year to $1,796 million.
Net income available to common stockholders was $51 million ($0.12 per diluted share) in Q2 2025, versus $76 million ($0.17) in Q2 2024 and $54 million ($0.13) in Q1 2025.
Adjusted operating income was $68 million ($0.16 per diluted share), versus $125 million ($0.28) in Q2 2024 and $51 million ($0.12) in Q1 2025.
Total revenues were $1,796 million, compared with $1,786 million in Q2 2024.
Genworth repurchased $30 million of shares in the quarter, leaving $80 million remaining in the authorization at June 30, 2025.
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
New York Mortgage Trust reported a second-quarter 2025 net loss to common stockholders of $3.5 million, or $0.04 per share, which was smaller than the $26.0 million loss a year earlier but reversed a $30.3 million profit in the first quarter. Earnings available for distribution were $0.22 per common share against a $0.20 dividend, and the company disclosed a July 15 acquisition of the remaining 50% of Constructive Loans for about $38.4 million. The filing names the registrant as New York Mortgage Trust (Nasdaq: NYMT), not Adamas Trust (ADAM) as the request stated.
Net loss attributable to common stockholders of $3.5 million, or $(0.04) per share, versus a $26.0 million loss, or $(0.29) per share, in Q2 2024
Earnings available for distribution of $20.0 million, or $0.22 per common share; dividends declared were $0.20 per common share
Net interest income rose to $36.4 million from $19.0 million a year earlier; Q1 2025 net income to common stockholders was $30.3 million, or $0.33 per share
Subsequent events: $90.0 million of 9.875% senior notes due 2030 issued on July 8, 2025; Constructive Loans acquisition completed July 15, 2025
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%.
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.
MGIC Investment Corporation reported second quarter 2025 net income of $192.5 million, or $0.81 per diluted share, compared with $204.2 million, or $0.77 per diluted share, in the second quarter of 2024. The company returned $212 million to shareholders through share repurchases and dividends and said a 15% increase in its common dividend, to $0.15 per share, was announced the prior week. Lower year-over-year net income is the main weak point, while the higher per-share figure and dividend increase favor shareholders.
Net income of $192.5 million, or $0.81 per diluted share, versus $204.2 million, or $0.77 per diluted share, a year earlier
Adjusted net operating income of $194.0 million, or $0.82 per diluted share, for the quarter
Total revenues of $304.2 million versus $305.3 million in the second quarter of 2024
Dividend of $0.15 per share payable August 21, 2025, to holders of record on August 7, 2025; conference call July 31, 2025 at 9:30 a.m. ET
Connection (PC Connection, Inc.) reported second-quarter 2025 results on July 30, 2025. Net sales rose 3.2% to $759.7 million, but net income fell 5.2% to $24.8 million and diluted EPS slipped to $0.97 from $0.99. The board also declared a quarterly dividend of $0.15 per share.
Net sales of $759.7 million, up 3.2% year over year; Enterprise Solutions up 9.1%, Business Solutions up 5.4%, Public Sector Solutions down 11.9%
Gross profit a record $137.8 million, up 0.9%; gross margin 18.1%, down 40 basis points
Quarterly dividend of $0.15 per share, payable August 29, 2025, to shareholders of record on August 12, 2025
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.
FormFactor reported second-quarter fiscal 2025 revenue of $195.8 million, up 14.3% from the first quarter but down 0.8% from a year earlier. CEO Mike Slessor said non-GAAP gross margin and profitability fell short of the company's outlook due to product mix and HBM ramp-up costs. The company also entered a $150 million revolving credit facility on July 29, 2025.
Q2 fiscal 2025 revenue was $195.8 million, up from $171.4 million in Q1 and down from $197.5 million in Q2 fiscal 2024.
GAAP net income was $9.1 million, or $0.12 per diluted share; non-GAAP net income was $21.2 million, or $0.27 per diluted share, versus $0.35 a year earlier.
Third-quarter outlook calls for revenue of $200 million +/- $5 million and non-GAAP net income per diluted share of $0.25 +/- $0.04.
A $150 million revolving credit agreement with Wells Fargo, dated July 29, 2025, matures July 29, 2030.
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
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.
Gates Industrial reported second-quarter 2025 net sales of $883.7 million, down 0.2% from the prior-year period, and GAAP net income attributable to shareholders of $56.5 million, or $0.22 per diluted share, down from $70.7 million, or $0.26, a year earlier. The company raised its full-year 2025 guidance for Adjusted EBITDA and Adjusted EPS, though the results show mixed direction across sales and profit measures.
Q2 2025 net sales were $883.7 million, down 0.2%; core sales fell 0.6%.
Adjusted Net Income per diluted share was $0.39, up from $0.36; Adjusted EBITDA was $199.2 million, down from $202.2 million.
2025 guidance now calls for Adjusted EBITDA of $765 million to $795 million and Adjusted EPS of $1.44 to $1.52.
Restructuring expenses were $13.0 million in the quarter, compared with $1.6 million a year earlier.
Clean Harbors reported second-quarter 2025 revenue of $1.55 billion, flat with a year earlier, while net income fell to $126.9 million from $133.3 million. Adjusted EBITDA rose to $336.2 million from $327.8 million, but the company reiterated the midpoints of its full-year 2025 guidance rather than raising them, so shareholders see lower reported profit alongside higher adjusted earnings.
Q2 2025 revenue was $1.55 billion, flat with Q2 2024; net income was $126.9 million, or $2.36 per diluted share, versus $133.3 million, or $2.46, a year earlier.
Adjusted EBITDA was $336.2 million, up from $327.8 million, with an Adjusted EBITDA margin of 21.7% versus 21.1%.
Full-year 2025 guidance midpoints were reiterated: Adjusted EBITDA of $1.16 billion to $1.20 billion and adjusted free cash flow of $430 million to $490 million.
The company expects Q3 2025 Adjusted EBITDA to grow 9% to 12% from the prior-year quarter.
On July 30, 2025, Resideo agreed to make a one-time $1.59 billion payment to Honeywell at closing, which is expected no later than August 29, 2025. The payment would terminate the 2018 Indemnification and Reimbursement Agreement and eliminate annual payments of up to $140 million through 2043, funded by about $400 million of cash on hand and new debt. The company also expects second-quarter 2025 results to be above the high end of its May outlook and announced a planned spin-off of its ADI Global Distribution business.
One-time payment of $1.59 billion to Honeywell at closing, expected by August 29, 2025; a $35 million scheduled payment was made on July 29, 2025.
Funding includes about $400 million of cash on hand and a new senior secured term loan of up to $1.225 billion committed by JPMorgan Chase Bank and Wells Fargo.
Resideo expects Q2 2025 net revenue, Non-GAAP Adjusted EBITDA and Non-GAAP Adjusted EPS above the high end of the May 6, 2025 outlook ranges; results due August 5, 2025.
Planned tax-free spin-off of ADI Global Distribution is expected to be completed in the second half of 2026; a $100 million fee applies if the agreement ends without debt financing.
Fortive reported second-quarter 2025 results and completed the spin-off of Ralliant on June 28, 2025. For continuing operations, revenue fell 0.4% to $1.02 billion while adjusted diluted EPS rose 3.6% to $0.58, and the company set full-year 2025 adjusted EPS guidance of $2.50 to $2.60 for the new Fortive.
Consolidated adjusted diluted EPS was $0.90 and GAAP diluted EPS was $0.49, which the company said was at the high end of its guidance range.
Continuing operations revenue was $1.02 billion, down 0.4%; adjusted EBITDA was $288 million, down 1.0%; GAAP diluted EPS was $0.33, up 3.1%.
Ralliant separation was completed June 28, 2025, with one Ralliant share distributed for every three Fortive shares held on the June 16, 2025 record date.
Full-year 2025 adjusted diluted EPS outlook is $2.50 to $2.60 for continuing Fortive; $345 million was deployed toward share repurchases in the first half of 2025.
Wingstop reported fiscal second-quarter 2025 results for the quarter ended June 28, 2025, with total revenue up 12.0% to $174.3 million while GAAP net income fell 2.6% to $26.8 million. The company raised its 2025 global unit growth guidance to 17% to 18% and increased its quarterly dividend to $0.30 per share from $0.27, while domestic same store sales declined 1.9% in the quarter.
Total revenue rose 12.0% to $174.3 million; system-wide sales rose 13.9% to $1.3 billion.
Net income fell 2.6% to $26.8 million; diluted EPS was $0.96 versus $0.93 a year earlier. Adjusted EPS was $1.00.
Domestic same store sales fell 1.9%; the company opened 129 net new restaurants, 19.8% unit growth.
2025 global unit growth guidance raised to 17% to 18% from 16% to 17%; quarterly dividend raised to $0.30, payable September 5, 2025.
Watsco reported second-quarter 2025 results with revenue down 4% to $2.06 billion, while gross profit rose 4% to $603 million and diluted earnings per share edged up to $4.52 from $4.49. The company attributed the sales decline to softer market conditions and the transition to new A2L refrigerant equipment, and it expects these impacts to diminish over the second half of 2025.
Quarterly revenue decreased 4% to $2.06 billion; diluted EPS was $4.52 versus $4.49 a year earlier.
Gross profit margin expanded 220 basis points to 29.3%, with gross profit up 4% to $603 million.
Six-month EPS was $6.50 versus $6.69; operating cash flow was a use of $185 million for the period.
The annual dividend was raised 11% to $12.00 per share in April 2025.
Verisk reported second-quarter 2025 revenue of $773 million, up 7.8%, and raised its full-year 2025 revenue and adjusted EBITDA outlook. Net income fell 17.7% to $253 million, mainly because the prior-year period included gains on business sales and an early debt extinguishment. The company also agreed on July 29, 2025 to acquire AccuLynx for $2.35 billion in cash, subject to customary closing conditions including regulatory approval.
Q2 2025 revenue of $773 million, up 7.8%; adjusted EBITDA of $445 million, up 11.9%
Net income of $253 million, down 17.7%; diluted GAAP EPS of $1.81, down 15.8%, versus prior-year gains
Full-year 2025 revenue guidance raised to $3,090 - $3,130 million from $3,030 - $3,080 million; diluted adjusted EPS guidance now $6.80 - $7.00 from $6.80 - $7.10
Agreed to acquire AccuLynx for $2.35 billion in cash on July 29, 2025; acquired SuranceBay on July 17, 2025 for $162.5 million
Etsy reported second quarter 2025 results on July 30, 2025. Revenue rose 3.8% to $672.7 million, while GMS fell 4.8% to $2.8 billion and net income dropped to $28.8 million, mainly due to a $25.4 million non-cash foreign exchange loss. The company also gave third quarter GMS guidance of $2.6 billion to $2.7 billion.
Revenue was $672.7 million, up 3.8% year-over-year, with a 24.0% take rate.
Net income was $28.8 million, down 45.6%; diluted EPS was $0.25 versus $0.41 a year earlier.
Third quarter 2025 guidance: GMS of $2.6 billion to $2.7 billion, take rate of about 24.5%, and adjusted EBITDA margin of about 25%.
Reverb sale was completed on June 2, 2025; the company repurchased about $335 million of stock in the quarter.
IDEX reported second quarter 2025 net sales of $865.4 million, up 7% from a year earlier and 1% organically, while GAAP diluted EPS fell to $1.74 from $1.86. The company lowered its full-year 2025 GAAP diluted EPS guidance to $6.30 to $6.44 from $6.56 to $6.95, citing customers taking a more cautious stance on larger orders, which matters to shareholders because it reduces expected full-year earnings.
Q2 net sales were $865.4 million, up 7% reported and 1% organic; Mott acquisition drove most of the increase.
GAAP diluted EPS was $1.74 versus $1.86; adjusted diluted EPS was $2.07 versus $2.06.
Full-year 2025 adjusted diluted EPS guidance was lowered to $7.85 to $7.95 from $8.10 to $8.45.
Third quarter 2025 GAAP diluted EPS is expected at $1.54 to $1.61, based on 2% to 3% organic sales growth.
Stifel Financial reported second-quarter 2025 net revenues of $1.28 billion, up 5.4% from a year earlier, but GAAP net income available to common shareholders fell 6.6% to $145.7 million, or $1.34 per diluted share. Non-GAAP diluted EPS rose to $1.71 from $1.60, excluding merger-related and restructuring and severance charges, so shareholders see higher revenue and adjusted earnings alongside lower reported profit.
Net revenues of $1,284.3 million, up 5.4% from $1,217.9 million in the second quarter of 2024.
GAAP diluted EPS of $1.34, down from $1.41; non-GAAP diluted EPS of $1.71, up from $1.60.
Non-GAAP adjustments included $27.0 million in restructuring and severance costs and $20.4 million in merger-related items.
The company repurchased $83.0 million of common stock and declared a $0.46 quarterly dividend per share, payable June 16, 2025.
Teradyne reported second-quarter 2025 revenue of $652 million, down from $686 million in the first quarter and $730 million a year earlier. GAAP diluted EPS was $0.49, compared with $1.14 a year earlier, and non-GAAP EPS was $0.57, compared with $0.86. The company guided third-quarter revenue to $710 million to $770 million and non-GAAP EPS to $0.69 to $0.87, and said it expects AI-related demand to drive stronger second-half performance.
Q2 2025 revenue was $652 million: Semiconductor Test $492 million, Robotics $75 million, Product Test $85 million.
GAAP net income was $78.4 million, or $0.49 per diluted share, versus $186.3 million, or $1.14 per diluted share, a year earlier.
Non-GAAP EPS was $0.57 for Q2 2025, versus $0.86 in Q2 2024 and $0.75 in Q1 2025.
Third-quarter 2025 guidance: revenue of $710 million to $770 million and GAAP EPS of $0.62 to $0.80 per diluted share.
Steve Madden reported second quarter 2025 revenue of $559.0 million, up 6.8%, but a GAAP net loss attributable to the company of $39.5 million, or $0.56 per diluted share, compared with net income of $35.4 million a year earlier. The company cited new tariffs on imported goods and did not provide 2025 financial guidance, while its Board declared a $0.21 quarterly dividend.
Revenue was $559.0 million, up from $523.6 million, with wholesale revenue down 6.4% to $360.6 million and direct-to-consumer revenue up 43.3% to $195.5 million.
GAAP loss from operations was $40.3 million, compared with income of $46.9 million a year earlier; adjusted income from operations was $22.6 million.
Adjusted diluted earnings per share were $0.20, compared with $0.57 a year earlier.
No 2025 financial guidance was given due to macroeconomic uncertainty tied to tariffs; the $0.21 dividend is payable September 23, 2025 to holders of record on September 12, 2025.
Reynolds Consumer Products reported second quarter 2025 net revenues of $938 million, up from $930 million a year earlier, but net income fell to $73 million from $97 million and adjusted EBITDA declined to $163 million from $172 million. The company reiterated its full-year 2025 outlook and declared a quarterly dividend of $0.23 per share, so shareholders see higher sales offset by lower profit.
Q2 2025 net revenues were $938 million vs. $930 million in Q2 2024; Q2 EPS was $0.35 vs. $0.46 a year earlier
Adjusted EBITDA was $163 million vs. $172 million, driven by lower retail volume and the timing of pricing actions
Full-year 2025 outlook reiterated: Adjusted EBITDA of $650 million to $670 million and Adjusted EPS of $1.54 to $1.61
Quarterly dividend of $0.23 per share approved, payable August 29, 2025 to holders of record as of August 15, 2025
Materion reported second-quarter 2025 net sales of $431.7 million, up from $425.9 million a year earlier, and GAAP net income of $25.1 million, or $1.21 per diluted share, up from $0.91. Adjusted EPS fell to $1.37 from $1.42, and the company affirmed its full-year adjusted EPS guidance of $5.30 to $5.70, so shareholders get higher reported profit alongside lower adjusted earnings and no guidance change.
Net sales were $431.7 million versus $425.9 million; value-added sales were $269.0 million, down 2% organic from the prior year period.
Net income was $25.1 million, or $1.21 per diluted share, versus $19.0 million, or $0.91, in the prior year quarter.
Adjusted EPS was $1.37 versus $1.42; adjusted EBITDA was $55.8 million versus $57.8 million.
Full-year adjusted EPS guidance of $5.30 to $5.70 was affirmed; the company repurchased 100,000 shares in the quarter at an average of about $78 per share.
Smurfit Westrock reported second-quarter 2025 net sales of $7,940 million, up from $2,969 million a year earlier, and Adjusted EBITDA of $1,213 million, up from $480 million. The company swung to a net loss of $26 million from net income of $132 million, mainly because of $280 million in impairment and restructuring costs. Management reiterated its full-year Adjusted EBITDA estimate of $5.0 billion to $5.2 billion, and shareholders will receive a quarterly dividend of $0.4308 per share.
Q2 net sales $7,940 million vs. $2,969 million in Q2 2024; the prior-year figures reflect legacy Smurfit Kappa only, as the WestRock combination closed July 5, 2024
Q2 net loss $26 million (net loss attributable to common shareholders $28 million), or $(0.05) per diluted share, vs. net income of $132 million a year earlier
Q2 Adjusted EBITDA $1,213 million with a 15.3% margin; North America Adjusted EBITDA $752 million
Third-quarter Adjusted EBITDA expected to be about $1.3 billion; full-year estimate of $5.0 billion to $5.2 billion unchanged; dividend payable September 18, 2025
Hershey reported second-quarter 2025 net sales of $2,614.7 million, up 26.0%, driven partly by the lap of prior-year inventory reductions and a later Easter. Profit fell sharply: reported net income was $62.7 million, down 65.2%, and adjusted EPS was $1.21, down 4.7%. The company also cut its 2025 reported and adjusted EPS outlook, citing estimated tariff expenses and commodity costs.
Q2 2025 net sales $2,614.7 million, up 26.0%; organic, constant currency sales up 26.3%
Reported net income $62.7 million, or $0.31 per diluted share, down 65.2%; adjusted EPS $1.21, down 4.7%
2025 reported EPS growth outlook changed from down high-40% range to down ~50%; adjusted EPS growth from down mid-30% range to down 36% to 38%
Tariff expense estimated at $170 million to $180 million for the full year 2025
Bunge reported second-quarter 2025 results, with net income attributable to Bunge of $354 million, up from $70 million a year earlier, and GAAP diluted EPS of $2.61 versus $0.48. The gain was helped by a $155 million gain on the sale of its US corn milling business, while adjusted diluted EPS fell to $1.31 from $1.73 and net sales declined to $12.77 billion from $13.24 billion. Bunge maintained its full-year adjusted EPS outlook of approximately $7.75, which excludes the Viterra business that closed on July 2, 2025.
Q2 net sales were $12.77 billion versus $13.24 billion in Q2 2024.
GAAP diluted EPS was $2.61 versus $0.48, including a $155 million gain on the corn milling sale.
Adjusted diluted EPS was $1.31 versus $1.73 in the prior year.
Full-year 2025 adjusted EPS outlook of approximately $7.75 was maintained and excludes Viterra, which closed July 2, 2025.
Humana reported second-quarter 2025 GAAP EPS of $4.51, down from $5.62 a year earlier, and adjusted EPS of $6.27, down from $6.96. Revenue rose to $32.4 billion from $29.5 billion. The company cut its full-year 2025 GAAP EPS guidance to about $13.77 from about $14.68 while raising adjusted EPS guidance to about $17.00 from $16.25 and revenue guidance to at least $128 billion, so headline measures moved in different directions.
2Q25 GAAP EPS was $4.51 versus $5.62 in 2Q24; adjusted EPS was $6.27 versus $6.96.
2Q25 Insurance segment benefit ratio was 89.9 percent, in line with the previously disclosed expectation of approximately 90 percent.
FY 2025 individual Medicare Advantage membership decline is now expected to be up to 500,000, down from approximately 550,000 previously.
CenterWell Primary Care now expects FY 2025 net patient growth of 50,000 to 70,000, up from 30,000 to 50,000.
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