1,024 material Form 8-K filings that 799 companies we cover made with the SEC in August 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).
Celsius closed a transaction with PepsiCo on August 28, 2025, receiving $585.0 million in cash for 390,000 shares of new Series B Convertible Preferred Stock and acquiring the Rockstar Energy brand in the U.S. and Canada. The deal also gives PepsiCo board designation rights, adds Michael Del Pozzo to the board, and sets up a distribution arrangement covering Alani Nu and Rockstar Energy products, which shareholders should weigh against the dilution and governance rights that come with the preferred stock.
Series B Preferred Stock sold to PepsiCo for $585.0 million in cash; each share is initially convertible into 11,304,348 shares of common stock
Rockstar Energy brand in the U.S. and Canada acquired from PepsiCo under a transaction agreement; the Captaincy also commenced on the Closing Date
PepsiCo may designate two board members, and Michael Del Pozzo was appointed as the second PepsiCo designee, expanding the board from nine to 10 members
Original Purchase Agreement terminated on the Closing Date, August 28, 2025
Leggett & Platt completed the sale of its Aerospace Products Group to funds advised by Tinicum Incorporated on August 29, 2025, receiving an estimated $285.8 million in cash at closing, subject to post-closing adjustments. The company also revised its full-year 2025 guidance: sales and adjusted EPS ranges were lowered, while reported EPS ranges were raised because of a $0.60 per share gain on the sale.
Estimated purchase price of $285.8 million paid in cash at closing, subject to customary post-closing adjustments
Company expects after-tax proceeds of approximately $250 million, to be used primarily to pay down debt
2025 sales guidance revised to $3.9 billion to $4.2 billion from $4.0 billion to $4.3 billion, excluding the Aerospace Products Group
2025 adjusted EPS guidance revised to $0.95 to $1.15 from $1.00 to $1.20; reported EPS guidance raised to $1.43 to $1.72 from $0.88 to $1.17
Abercrombie & Fitch reported second-quarter fiscal 2025 net sales of $1.2 billion, up 7% from a year earlier, and raised its full-year net sales growth outlook to 5% to 7%. GAAP diluted EPS rose to $2.91 from $2.50, helped by a $39 million pre-tax litigation settlement benefit; excluding that item, adjusted EPS was $2.32, down from $2.50 a year earlier. The company also set its full-year EPS outlook at $10.00 to $10.50 and estimates about $90 million of net tariff expense.
Net sales of $1.2 billion, up 7%: Hollister brands up 19%, Abercrombie brands down 5%.
GAAP EPS $2.91 vs. $2.50 a year earlier; adjusted EPS $2.32 vs. $2.50, excluding a $0.59 per share litigation settlement benefit.
Full-year net sales growth outlook raised to 5% to 7% from 3% to 6%; full-year EPS outlook $10.00 to $10.50.
Third-quarter EPS outlook of $2.05 to $2.25; the company repurchased $50 million of shares in the quarter.
Nasdaq's Hearings Panel granted Australian Oilseeds an extension to regain compliance with its $2.5 million minimum stockholders' equity rule, and allowed its shares and warrants to keep trading on Nasdaq through September 30, 2025. The company reported $2.6 million in shareholder equity as of its July 22, 2025 hearing, but must meet the rule by the deadline and would then face a one-year panel monitor.
Nasdaq Panel decision received August 22, 2025; listing continues through September 30, 2025, subject to meeting the equity rule by that date
Minimum stockholders' equity requirement is $2.5 million under Nasdaq Listing Rule 5450(b)(1)(A)
Company reported $2.6 million in shareholder equity as of the July 22, 2025 hearing date
Company plans to maintain minimum equity by converting additional debt and increasing revenues; a one-year panel monitor applies if compliance is regained
Bath & Body Works reported second-quarter 2025 net sales up 1.5% to $1.549 billion, but diluted earnings per share fell to $0.30 from $0.68 a year earlier, and adjusted EPS was flat at $0.37. The company raised the low end of its full-year adjusted EPS guidance to $3.35 from $3.25 and expects a larger share repurchase, but its full-year GAAP EPS guidance of $3.28 to $3.53 is below 2024's $3.61.
Q2 net sales were $1,549 million, up from $1,526 million, while net income fell to $64 million from $152 million.
Adjusted EPS was $0.37, flat with last year; adjusted operating income was $172 million versus $183 million.
Full-year 2025 adjusted EPS guidance is $3.35 to $3.60, with the low end raised from $3.25; GAAP EPS guidance is $3.28 to $3.53 versus $3.61 in fiscal 2024.
Share repurchase expectation for 2025 rose to $400 million from $300 million; third-quarter EPS is expected at $0.37 to $0.45 versus $0.49 a year earlier.
Victoria's Secret & Co. reported second quarter 2025 net sales of $1.459 billion, up 3% and above its guidance range of $1.380 billion to $1.410 billion. Profit was lower: GAAP net income attributable to the company was $16 million, or $0.20 per diluted share, versus $32 million, or $0.40, a year earlier, and adjusted EPS was $0.33 versus $0.40. The company raised full-year net sales guidance but expects a third-quarter adjusted operating loss.
Q2 net sales $1.459 billion, up 3% from $1.417 billion; total comparable sales up 4%.
Q2 operating income $41 million vs. $62 million a year earlier; adjusted operating income $55 million vs. guidance of $15 million to $35 million.
Full-year net sales guidance raised to $6.330 billion to $6.410 billion from $6.2 billion to $6.3 billion; adjusted operating income outlook reiterated at $270 million to $320 million.
Third-quarter adjusted operating loss expected at $35 million to $55 million; adjusted net loss per share $0.55 to $0.75.
BILL reported fourth-quarter and fiscal 2025 results for the period ended June 30, 2025, with total revenue up 12% in the quarter and 13% for the full year, and its board authorized up to $300 million in share repurchases. The company posted a fourth-quarter GAAP net loss of $7.1 million, compared with net income of $7.6 million a year earlier, while full-year GAAP net income was $23.8 million, compared with a net loss of $28.9 million. Shareholders should note that the repurchase program does not obligate the company to buy any specific amount of stock, and fiscal 2026 total revenue guidance is $1,589.5 million to $1,629.5 million.
Q4 fiscal 2025 total revenue was $383.3 million, up 12% year-over-year; core revenue was $345.9 million, up 15%.
Q4 GAAP net loss was $7.1 million, or $0.07 per share, versus net income of $7.6 million in Q4 fiscal 2024; non-GAAP operating income was $56.4 million, down 6%.
Fiscal 2025 total revenue was $1,462.6 million, up 13%, and GAAP net income was $23.8 million versus a net loss of $28.9 million in fiscal 2024.
The $300 million share repurchase program has no set end date; the company expects to fund it with existing cash. Fiscal 2026 non-GAAP net income per diluted share guidance is $2.00 to $2.20.
REX American Resources reported fiscal second-quarter 2025 net sales and revenue of $158.6 million, up from $148.2 million a year earlier, but net income attributable to REX shareholders fell to $7.1 million from $12.4 million and diluted earnings per share fell to $0.43 from $0.70. The board also declared a 2-for-1 stock split, payable September 15, 2025 to holders of record on September 8, 2025, which would roughly double the outstanding share count to 33,057,574 shares.
Net sales and revenue rose to $158.6 million from $148.2 million, which the company attributes mainly to higher volumes despite lower ethanol and distillers grain prices.
Gross profit fell to $14.3 million from $19.8 million, and diluted EPS fell to $0.43 from $0.70.
The 2-for-1 stock split is a 100% stock dividend payable September 15, 2025 to shareholders of record on September 8, 2025.
Cash, cash equivalents and short-term investments totaled $310.5 million at July 31, 2025, with no bank debt.
J.M. Smucker reported a fiscal 2026 first-quarter net loss of $0.41 per diluted share, compared with net income of $1.74 per share a year earlier, while net sales fell 1% to $2.1 billion. Adjusted earnings per share fell 22% to $1.90, and operating cash flow was negative $10.6 million. The company raised its full-year net sales growth outlook to 3.0% to 5.0% and its free cash flow outlook to $975.0 million, but kept its adjusted earnings per share guidance at $8.50 to $9.50.
Net sales were $2.1 billion, down $11.8 million or 1%; excluding divestitures and currency, net sales rose 2%.
Net loss per diluted share was $0.41, versus net income of $1.74 per share a year earlier; GAAP operating income fell 87% to $45.6 million.
Adjusted earnings per share were $1.90, down 22% from $2.44.
FY2026 net sales growth outlook raised to 3.0% to 5.0% from 2.0% to 4.0%; adjusted earnings per share guidance unchanged at $8.50 to $9.50; free cash flow outlook raised to $975.0 million from $875.0 million.
Kohl's reported second-quarter fiscal 2025 net sales down 5.1% to $3.3 billion, with comparable sales down 4.2%. GAAP diluted EPS was $1.35, helped by a $129 million gain on a credit card interchange fee lawsuit settlement, while adjusted diluted EPS was $0.56 versus $0.59 a year earlier. The company raised its full-year 2025 outlook, and its board reduced the annual cash dividend to $0.50 per share to give the company more balance sheet flexibility.
Net sales fell 5.1% to $3.3 billion; gross margin rose 28 basis points to 39.9%
GAAP diluted EPS of $1.35 versus $0.59 a year earlier; adjusted diluted EPS of $0.56 versus $0.59
Full-year 2025 adjusted diluted EPS guidance of $0.50 to $0.80; net sales expected to decline 5% to 6%
Quarterly dividend of $0.125 per share payable September 24, 2025; presentation says annual dividend reduced to $0.50 per share
Inspire Medical Systems said Chief Financial Officer Richard Buchholz will step down to pursue other professional opportunities, effective December 31, 2025 or the day before a permanent successor starts, whichever is earlier. The company said his decision was not due to any disagreement over operations, policies, or accounting and financial reporting, and it has begun a search for a new CFO. The company also reaffirmed its full-year 2025 guidance.
Buchholz will remain principal financial and accounting officer until his resignation takes effect, then serve in a financial advisory role through February 28, 2026
Transition terms include a cash payment equal to nine months of his 2025 base salary and up to nine months of COBRA coverage
Full-year 2025 guidance reaffirmed: revenue of $900 million to $910 million, gross margin of 84% to 86%, and diluted net income per share of $0.40 to $0.50
PVH reported second-quarter 2025 revenue of $2.167 billion, up 4% from a year earlier, and non-GAAP earnings per share of $2.52, which beat guidance of $1.85 to $2.00 but fell from $3.01 a year earlier. The company raised its full-year revenue outlook and reaffirmed its non-GAAP EPS range of $10.75 to $11.00, while gross margin declined to 57.7% from 60.1% amid tariffs and promotions.
Non-GAAP EPS was $2.52 versus $3.01 a year earlier and above prior guidance of $1.85 to $2.00; GAAP EPS was $4.63 versus $2.80.
Gross margin fell to 57.7% from 60.1%; non-GAAP EBIT was $178 million versus $189 million a year earlier.
Full-year revenue outlook was raised to increase slightly to up low single digits; non-GAAP EPS outlook of $10.75 to $11.00 was reaffirmed.
No share repurchase payments were made in the second quarter, and none are expected for the rest of 2025 after $561 million of purchases in the first quarter.
On August 24, 2025, Keurig Dr Pepper entered into a merger protocol to acquire all outstanding JDE Peet's shares through a cash tender offer at €31.85 per share, valuing the equity at about €15.7 billion. The company plans to separate into two independent companies after the acquisition closes, and the filing says the deal is expected to close in the first half of 2026, subject to conditions. The purchase is backed by a bridge loan of up to €16.2 billion, which adds significant debt for shareholders to weigh against the expected benefits.
Offer price of €31.85 per share in cash, plus a previously declared €0.36 dividend paid by JDE Peet's before closing, with no reduction to the offer price
Bridge Credit Agreement dated August 24, 2025 provides up to €16.2 billion in 364-day senior unsecured financing, with interest at EURIBOR plus 0.750% to 2.500%
Acorn Holdings B.V. and certain JDE Peet's directors, holding about 69% of shares, have committed to tender their shares and vote in favor
Closing expected in the first half of 2026; JDE Peet's would pay a termination fee of approximately €156.7 million in certain circumstances, and KDP expects about $400 million in cost synergies over three years
Ross Stores reported second-quarter fiscal 2025 diluted EPS of $1.56 on net income of $508 million, down from $1.59 a year earlier, while sales rose 5% to $5.5 billion. The company said tariff-related costs weighed on margins, and it set fiscal 2025 EPS guidance of $6.08 to $6.21, compared with $6.32 last year, which matters to shareholders because it signals lower earnings for the year.
Q2 diluted EPS $1.56 vs $1.59 a year earlier; net income $508 million vs $527 million
Q2 sales up 5% to $5.5 billion; comparable store sales up 2%; operating margin down 95 basis points to 11.5%
Fiscal 2025 EPS now planned at $6.08 to $6.21 vs $6.32 last year; includes about $0.22 to $0.25 per share from announced trade policies
Repurchased 1.9 million shares for $262 million in Q2; on track for $1.05 billion in buybacks in fiscal 2025
International Paper agreed to sell its Global Cellulose Fibers business to American Industrial Partners for $1.5 billion, subject to closing adjustments, and committed to closing its Riceboro and Savannah, Georgia containerboard mills. The company estimates aggregate pre-tax cash charges of about $158 million and non-cash accelerated depreciation charges of about $570 million, which it expects to record in the quarter ending September 30, 2025.
Global Cellulose Fibers sale to American Industrial Partners for $1.5 billion, including preferred stock with an aggregate initial liquidation preference of $190 million; expected to close by the end of 2025, subject to regulatory approvals
Riceboro, Georgia containerboard mill operations expected to cease by September 12, 2025; Savannah, Georgia containerboard mill by September 30, 2025
Estimated pre-tax cash charges of about $158 million and non-cash accelerated depreciation of about $570 million, to be recorded in the three months ending September 30, 2025
About 1,100 hourly and salaried positions affected; $250 million investment to convert the Riverdale mill machine in Selma, Ala., expected complete by the third quarter of 2026
International Paper agreed on August 20, 2025 to sell its Global Cellulose Fibers business to a buyer led by American Industrial Partners for $1.5 billion, subject to closing adjustments, including $190 million of preferred stock. The company expects a non-cash impairment charge of $700 million to $900 million in the quarter ending September 30, 2025, and says the sale is expected to close by the end of 2025, subject to regulatory approvals.
Purchase price of $1.5 billion, subject to closing adjustments, including preferred stock with an aggregate initial liquidation preference of $190 million
Non-cash impairment charge of approximately $700 million to $900 million expected in the quarter ending September 30, 2025; the amount could differ from this preliminary estimate
Closing requires Hart-Scott-Rodino and Canadian Competition Act approvals; End Date is February 20, 2026, extendable to May 20, 2026 if only competition approvals remain; $85 million termination fee payable to the company in specified circu
Freight Technologies reported second-quarter 2025 revenue of $2,989,910, down from $3,837,842 a year earlier, and net income of $649,238 compared with a net loss of $1,954,556. The company attributed the profit mainly to a $2,427,754 unrealized gain on cryptocurrency holdings, and it lowered its full-year 2025 revenue and operating margin outlook, citing higher tariffs and selective customer engagement in brokerage.
Q2 2025 revenue was $2,989,910 versus $3,837,842 in Q2 2024.
Net income was $649,238 versus a net loss of $1,954,556; an unrealized crypto gain of $2,427,754 contributed.
Operating loss narrowed to $1,470,971 from $1,704,951 year over year.
2025 outlook: revenue of $13 million to $16 million and operating loss of $4.5 million to $6.3 million.
Coty reported fiscal 2025 net revenue of $5,892.9 million, down 4%, and a reported net loss of $381.1 million, compared with net income of $76.2 million a year earlier. The loss reflects a $212.8 million non-cash asset impairment and a $248.1 million equity swap mark-to-market hit. The company expects first-quarter fiscal 2026 LFL sales to decline 6% to 8% and adjusted EBITDA to fall in the mid-to-high teens percentage, with a return to growth in the second half.
FY25 reported net loss was $381.1 million, or $(0.44) per diluted share, versus net income of $76.2 million in FY24.
Q4 net revenue was $1,252.4 million, down 8%, and Q4 adjusted EBITDA was $126.7 million, down 23%.
Guidance: 1Q26 LFL sales decline of 6% to 8%; 1Q26 adjusted EBITDA decline in the mid-to-high teens percentage.
1H26 adjusted EPS expected at $0.33 to $0.36; free cash flow in 1H26 expected to exceed $350 million.
On August 18, 2025, NorthWestern Energy entered a merger agreement with Black Hills Corp. under which each NorthWestern share would convert into 0.98 Black Hills shares. The companies say the exchange ratio implies an approximately 4% premium based on volume weighted average prices since March 2025, and the combined company would have a $15.4 billion enterprise value. Completion requires shareholder and regulatory approvals and is expected in 12 to 15 months, so NorthWestern shareholders face approval and closing risk before the terms take effect.
Each NorthWestern common share converts into 0.98 Black Hills shares; Black Hills holders would own about 56% and NorthWestern holders about 44% of the combined company.
The exchange ratio implies an approximately 4% premium based on volume weighted average prices since March 2025, per the companies' press release.
Either party owes a $100 million termination fee in certain circumstances; the agreement can be terminated if closing has not occurred by August 18, 2026, extendable up to February 18, 2027.
Brian B. Bird, NorthWestern's CEO, is expected to become CEO of the combined company; Linn Evans, Black Hills' CEO, will retire at closing.
On August 18, 2025, Nexstar and TEGNA signed a merger agreement under which TEGNA stockholders would receive $22.00 per share in cash, a transaction the companies value at $6.2 billion including TEGNA's net debt and estimated fees. Completion requires TEGNA stockholder approval and regulatory approvals, including from the FCC, and is expected by the second half of 2026. For Nexstar shareholders, the deal would raise leverage: Nexstar expects its net leverage ratio to be about 4x at closing, compared with 3.19x as of June 30, 2025, with de-leveraging to current levels planned for 2028.
Cash consideration of $22.00 per TEGNA share, a 31% premium to TEGNA's 30-day average stock price ending August 8, 2025
Termination fees: TEGNA would pay Nexstar $120 million in certain cases; Nexstar would pay TEGNA $125 million if required regulatory clearances are not obtained before the Outside Date of August 18, 2026
Nexstar expects annual net synergies of approximately $300 million and net leverage of about 4x at closing versus 3.19x at June 30, 2025
Committed debt financing from BofA Securities, J.P. Morgan and Goldman Sachs; closing expected by the second half of 2026
Flowers Foods reported second-quarter results for the 12 weeks ended July 12, 2025. Net sales rose 1.5% to $1.243 billion, helped by the Simple Mills acquisition, while net income fell 12.8% to $58.4 million and diluted EPS fell to $0.28 from $0.32. The company also lowered its fiscal 2025 guidance for net sales, adjusted EBITDA and adjusted diluted EPS, citing softer traditional loaf sales and a more competitive environment.
Net sales rose 1.5% to $1.243 billion; Simple Mills added 5.1 percentage points, while pricing/mix fell 1.2% and volume fell 2.4%.
Net income fell 12.8% to $58.4 million; adjusted diluted EPS fell to $0.30 from $0.36.
Fiscal 2025 adjusted EBITDA guidance is $512 million to $538 million, down from $534 million to $562 million.
Fiscal 2025 adjusted diluted EPS guidance is $1.00 to $1.10, down from $1.05 to $1.15.
DigitalOcean completed a private offering of $625 million of 0.00% convertible senior notes due 2030, including the full exercise of the $75 million option. It used the net proceeds, cash on hand and $380 million of term loans to repurchase $1,187.7 million principal of its 2026 convertible notes, which adds long-term debt and potential share dilution while reducing near-term maturities.
Notes total $625 million, mature August 15, 2030, and carry a 0.00% rate; conversion price is about $39.17 per share
Capped call cost about $83.9 million; cap price $66.51 per share, a 125% premium to the $29.56 close on August 11, 2025
Approximately $1,131.3 million paid to repurchase $1,187.7 million principal of 2026 notes, funded partly by $380 million of term loans
On August 13, 2025, Resideo made a one-time $1.59 billion cash payment to Honeywell, which terminated the Indemnification and Reimbursement Agreement and eliminated its obligation to make annual payments of up to $140 million through year-end 2043. The company financed part of the payment with $1.225 billion of incremental senior secured term loans, which carry a higher interest rate and add to its debt, so shareholders gain relief from future payments but take on a large cash outlay and more borrowing.
One-time cash payment of $1.59 billion to Honeywell, with the closing occurring on August 13, 2025.
Annual payments of up to $140 million through year-end 2043 eliminated.
$1.225 billion in incremental senior secured term loans maturing August 13, 2032, at Term SOFR plus 2.00%.
Interest rate on existing term B tranches raised from Term SOFR plus 1.75% to Term SOFR plus 2.00%; leverage covenant temporarily raised to 4.00 to 1.00 for the September 30 and December 31, 2025 test periods.
Tapestry reported fiscal fourth-quarter net sales of $1.72 billion, up 8%, and a GAAP net loss of $517 million, driven largely by an $855 million impairment on the Kate Spade brand. Non-GAAP earnings per diluted share rose to $1.04 from $0.92, and the company initiated fiscal 2026 non-GAAP EPS guidance of $5.30 to $5.45 and raised its dividend 14%.
Q4 net sales were $1.72 billion, up 8% on both reported and constant currency bases; GAAP net loss was $517 million, or $2.49 per diluted share, versus GAAP net income of $159 million a year earlier.
Q4 non-GAAP EPS was $1.04 versus $0.92; the quarter included an $855 million impairment on Kate Spade indefinite-lived brand intangible and goodwill.
Fiscal 2026 outlook calls for revenue approaching $7.2 billion and non-GAAP EPS of $5.30 to $5.45, including a negative tariff and duty impact of over $0.60 per share.
Quarterly dividend raised 14% to $0.40 per share, an anticipated $1.60 annual rate; the company expects $800 million in share repurchases in fiscal 2026.
Amcor reported fiscal fourth-quarter 2025 net sales of $5,082 million, up 44% on a reported basis, after the April 30, 2025 Berry Global acquisition, but posted a GAAP net loss of $39 million that included acquisition-related costs. For fiscal 2026, the company guided to adjusted EPS of 80 to 83 cents, representing 12% to 17% constant currency growth, and free cash flow of $1.8 billion to $1.9 billion.
Q4 net sales $5,082 million, up 44% reported and 43% constant currency; GAAP net loss $39 million, or 1.9 cents per diluted share.
Fiscal 2025 adjusted EPS 71.2 cents, up 3% constant currency; GAAP net income $511 million; adjusted free cash flow $926 million.
Fiscal 2026 guidance: adjusted EPS of 80 to 83 cents and free cash flow of $1.8 billion to $1.9 billion, including about $260 million of pre-tax synergy benefits.
Identified a $20 billion core portfolio and about $2.5 billion of less-aligned businesses under review; quarterly dividend raised to 12.75 cents from 12.5 cents.
CAVA Group reported fiscal second-quarter 2025 results for the period ended July 13, 2025, with CAVA Revenue up 20.3% to $278.2 million on 16 net new restaurant openings and same restaurant sales growth of 2.1%. Net income fell to $18.4 million from $19.7 million a year earlier, while Adjusted EBITDA rose 22.6% to $42.1 million, and the company cut its full-year same restaurant sales growth outlook to 4.0% to 6.0% from 6.0% to 8.0%.
CAVA Revenue grew 20.3% to $278.2 million versus $231.4 million in the prior-year quarter; total revenue was $280.6 million.
Net income was $18.4 million, down from $19.7 million; diluted EPS was $0.16 versus $0.17 a year earlier.
Adjusted EBITDA rose to $42.1 million from $34.3 million; CAVA Restaurant-Level Profit Margin was 26.3% versus 26.5%.
Updated fiscal 2025 guidance: same restaurant sales growth cut to 4.0% to 6.0%; net new openings raised to 68 to 70; Adjusted EBITDA unchanged at $152.0 million to $159.0 million.
Madison Square Garden Sports Corp. (MSGS) reported fiscal 2025 revenues of $1.04 billion, up 1%, but operating income fell to $14.8 million and the company recorded a net loss of $22.4 million for the year. In the fourth quarter, revenue fell 10% to $204.0 million and the company posted an operating loss, mainly due to higher direct operating expenses, which matters to shareholders because profit fell sharply even as annual sales edged up.
Fiscal 2025 revenues were $1,039.2 million, up $12.1 million, or 1%, from the prior year
Fiscal 2025 operating income was $14.8 million, down $131.2 million; net loss was $22.4 million, or $0.93 per diluted share
Fourth-quarter revenues were $204.0 million, down $23.3 million, or 10%; operating loss was $22.6 million versus operating income of $52.3 million a year earlier
Fourth-quarter direct operating expenses rose $47.1 million, or 44%, including $42.8 million of higher net provisions for certain team personnel transactions
TDS reported second-quarter 2025 operating revenues of $1,186 million, down from $1,238 million a year earlier, while its net loss attributable to common shareholders narrowed to $5 million, or $(0.05) per share, from $14 million, or $(0.13) per share. The company also lowered the top end of its TDS Telecom 2025 Adjusted OIBDA and Adjusted EBITDA estimates, which matters to shareholders because the revenue decline and narrower guidance range point to a softer telecom outlook.
Q2 2025 operating revenues were $1,186 million versus $1,238 million in Q2 2024.
Net loss attributable to TDS common shareholders was $(5) million, or $(0.05) per diluted share, versus $(14) million, or $(0.13), a year earlier.
TDS Telecom 2025 Adjusted OIBDA estimate narrowed to $310-$340 million from $310-$350 million; Adjusted EBITDA narrowed to $320-$350 million from $320-$360 million.
Array completed the sale of its wireless operations and select spectrum assets to T-Mobile on August 1, 2025, for total consideration of $4.3 billion.
AAM (NYSE: AXL) reported second-quarter 2025 sales of $1.54 billion, down from $1.63 billion a year earlier, while net income rose to $39.3 million from $18.2 million. The filing says the net income increase reflects a $46.3 million gain on its Business Combination Derivative, while Adjusted EBITDA fell to $202.2 million from $208.4 million, and the company raised the low end of several full-year 2025 targets.
Sales were $1.54 billion versus $1.63 billion a year earlier, which the company attributed to lower volume and mix.
Diluted EPS was $0.32 versus $0.15; Adjusted EPS was $0.21 versus $0.19. Adjusted EBITDA margin was 13.2% versus 12.8%.
Full-year 2025 targets: Adjusted EBITDA $695 million to $745 million (previously $665 million to $745 million); sales $5.75 billion to $5.95 billion (previously $5.65 billion to $5.95 billion).
CEO David C. Dauch said shareholders of both companies approved the combination with Dowlais.
Alpha Metallurgical Resources reported a second-quarter 2025 net loss of $5.0 million, or $0.38 per diluted share, narrowing from a $33.9 million loss in the first quarter but down from a $58.9 million profit a year earlier. The company lowered its 2025 cost of coal sales guidance to $101 to $107 per ton, cut its SG&A guidance, and raised its idle operations expense guidance. It also plans to restart its share repurchase program on an opportunistic basis, having refrained from buybacks for about five quarters.
Q2 2025 net loss of $5.0 million ($0.38 per diluted share) versus a $33.9 million loss in Q1 2025 and net income of $58.9 million in Q2 2024
Adjusted EBITDA of $46.1 million, up from $5.7 million in Q1 2025 and down from $116.0 million in Q2 2024
2025 cost of coal sales guidance lowered to $101 to $107 per ton from $103 to $110; SG&A guidance cut to $48 million to $54 million
Total liquidity of $556.9 million as of June 30, 2025; remaining buyback authorization of approximately $400 million
Wendy's reported second-quarter 2025 results for the quarter ended June 29, 2025. Revenue and global systemwide sales declined, while diluted earnings per share rose 7.4% to $0.29, helped by a lower share count. The company lowered its full-year 2025 adjusted EPS and adjusted EBITDA outlook, which matters to shareholders because it signals weaker expected profit for the year.
Total revenues were $560.9 million, down 1.7% from $570.7 million a year earlier; diluted EPS was $0.29, up 7.4% from $0.27.
Global systemwide sales were $3.7 billion, down 1.8%; U.S. same-restaurant sales fell 3.6%, while International systemwide sales grew 8.7%.
Full-year adjusted EPS outlook is now $0.82 to $0.89, down from $0.92 to $0.98; adjusted EBITDA outlook is now $505 million to $525 million, down from $530 million to $545 million.
The board declared a regular quarterly dividend of $0.14 per share, payable September 16, 2025, to holders of record as of September 2, 2025.
Lamar Advertising reported second-quarter 2025 net revenues of $579.3 million, up 2.5%, and net income of $155.0 million, up 12.7%. The company lowered its full-year 2025 diluted AFFO per share guidance to $8.10 to $8.20 from $8.13 to $8.28, with CEO Sean Reilly citing expected revenue growth in the second half that may be smaller than anticipated at the start of the year.
Q2 2025 net revenues were $579.3 million versus $565.3 million in Q2 2024; diluted EPS was $1.52 versus $1.34
Full-year 2025 diluted AFFO per share guidance revised to $8.10 to $8.20 from $8.13 to $8.28
Q2 2025 cash flow from operations fell $26.9 million to $229.5 million; free cash flow was $199.1 million, down 2.2%
Total liquidity was $363.0 million as of June 30, 2025
Victory Capital reported second-quarter 2025 revenue of $351.2 million, up 59.9% from a year earlier, after closing its Amundi US acquisition on April 1, 2025. GAAP net income fell 21% to $58.7 million and GAAP diluted EPS was $0.68 versus $1.12, as higher variable operating expenses and acquisition and restructuring costs pushed the GAAP operating margin down to 26.8%. The board raised the share repurchase authorization to $500 million and approved a $0.49 quarterly dividend.
Revenue was $351.2 million, up 59.9% from a year earlier and from $219.6 million in the first quarter of 2025.
GAAP diluted EPS was $0.68 versus $1.12 a year earlier; adjusted net income with tax benefit per diluted share was $1.57 versus $1.31.
GAAP operating margin was 26.8% versus 50.4%; acquisition-related costs were $25.8 million and restructuring and integration costs were $14.0 million.
The share repurchase authorization rose from $200.0 million to up to $500.0 million; the $0.49 dividend is payable September 25, 2025.
Concentra Group Holdings Parent reported second-quarter 2025 revenue of $550.8 million, up 15.2%, and raised its full-year 2025 revenue and Adjusted EBITDA guidance. Net income fell 12.9% to $46.2 million, and earnings per share fell to $0.35 from $0.50, which the company attributed to higher interest expense from its IPO recapitalization.
Q2 2025 revenue was $550.8 million, up 15.2% from $477.9 million; Adjusted EBITDA was $115.0 million, up 13.2% from $101.6 million.
Q2 2025 net income was $46.2 million versus $53.1 million a year earlier; EPS was $0.35 versus $0.50.
2025 revenue guidance was raised to $2.13 billion to $2.16 billion, and Adjusted EBITDA guidance is $420 million to $430 million.
The board declared a cash dividend of $0.0625 per share, payable August 28, 2025, to holders of record on August 21, 2025.
Synaptics reported fourth-quarter fiscal 2025 revenue of $282.8 million, up from $247.4 million a year earlier, but a GAAP net loss of $4.7 million, compared with net income of $208.3 million a year earlier. The company also guided first-quarter fiscal 2026 revenue to $290 million plus or minus $10 million and authorized a new buyback of up to $150 million of common stock, which has no expiration date.
Q4 non-GAAP diluted EPS was $1.01, versus $0.64 a year earlier; Q4 GAAP loss was $0.12 per basic share.
Prior-year Q4 GAAP net income of $208.3 million included a $245.0 million income tax benefit.
Q1 fiscal 2026 guidance: revenue $290 million ± $10 million; GAAP loss per share ($0.54) ± $0.25.
Board authorized the buyback of up to $150 million on August 5, 2025; the company repurchased $128 million of stock in fiscal 2025.
Onto Innovation reported fiscal second quarter 2025 revenue of $253.6 million, up 5% from a year earlier, while GAAP net income fell to $33.9 million, or $0.69 per share, from $52.9 million, or $1.07 per share. The company guided third-quarter revenue to $210 million to $225 million and announced a pending acquisition of Semilab product lines for approximately $545 million in cash and stock.
Q2 2025 revenue of $253.6 million, up 5% year-over-year; GAAP operating margin 12.7% vs. 20.2% a year earlier
Non-GAAP net income of $61.3 million, or $1.25 per share, vs. $65.4 million, or $1.32 per share, in Q2 2024
Q3 2025 outlook: revenue of $210 million to $225 million and GAAP diluted EPS of $0.52 to $0.72
Semilab acquisition for approximately $545 million in cash and stock, expected to add more than $130 million in annual revenue
Kratos reported second quarter 2025 revenue of $351.5 million, up 17.1 percent from $300.1 million a year earlier, while GAAP net income fell to $2.9 million, or $0.02 per share, from $7.9 million, or $0.05. The company raised its full-year 2025 revenue and Adjusted EBITDA guidance and gave initial third-quarter guidance, but the second-quarter bookings-to-revenue ratio was 0.7 to 1.
Q2 2025 revenue was $351.5 million, up from $300.1 million, with organic growth of 15.2 percent.
GAAP net income was $2.9 million, or $0.02 per share, versus $7.9 million, or $0.05 per share, in Q2 2024; Adjusted EPS was $0.11 versus $0.14.
Full-year 2025 revenue guidance is $1.29 billion to $1.31 billion and Adjusted EBITDA guidance is $114 million to $120 million, both increased.
KUS segment reported an operating loss of $0.3 million in Q2 2025, compared with operating income of $3.6 million a year earlier.
ICU Medical reported second quarter 2025 revenue of $548.9 million, down from $596.5 million a year earlier, and GAAP net income of $35.3 million, or $1.43 per diluted share, which included a $41.8 million gain on sale of a business. The company also narrowed its 2025 adjusted EBITDA guidance to $380 million to $390 million from $380 million to $405 million, and adjusted diluted EPS guidance to $6.85 to $7.15 from $6.55 to $7.25, so shareholders face lower revenue and a lower top end for adjusted EBITDA guidance despite higher reported profit.
Q2 2025 revenue was $548.9 million versus $596.5 million in Q2 2024; Vital Care revenue fell to $108.0 million from $171.0 million.
GAAP net income was $35.3 million, or $1.43 per diluted share, versus a net loss of $21.4 million, or $0.88 per share, a year earlier.
Adjusted diluted EPS was $2.10 versus $1.56; adjusted EBITDA was $100.3 million versus $91.3 million.
Full-year 2025 adjusted EBITDA guidance high end lowered to $390 million from $405 million; the low end stayed at $380 million.
DiamondRock reported second-quarter 2025 net income attributable to common stockholders of $38.4 million, or $0.18 per diluted share, up 73.8% from a year earlier, while total revenues fell 1.2% to $305.7 million and Adjusted EBITDA fell 4.7% to $90.5 million. The company raised the midpoint of its 2025 Adjusted EBITDA and Adjusted FFO per share guidance and completed a $1.5 billion credit facility refinancing that it says leaves no debt maturities until 2028.
Net income attributable to common stockholders was $38.4 million, or $0.18 per diluted share, versus $22.1 million in the second quarter of 2024.
Total revenues were $305.7 million, down 1.2% from $309.3 million; Adjusted EBITDA was $90.5 million, down 4.7%.
2025 Adjusted EBITDA guidance is $275 million to $295 million, with the midpoint raised by $2.5 million; Adjusted FFO per share guidance is $0.96 to $1.06, with the midpoint raised by $0.01.
On July 22, 2025, the company completed a $1.5 billion refinancing of its senior unsecured credit facility.
BioLife Solutions reported unaudited second-quarter 2025 revenue of $25.4 million, up 29% from a year earlier, and raised its full-year 2025 revenue guidance to $100.0 million to $103.0 million. The GAAP net loss widened to $15.8 million, which includes a non-cash $15.5 million in-process R&D expense tied to the April 2025 PanTHERA acquisition.
Q2 2025 total revenue was $25.4 million, up from $19.7 million in Q2 2024.
GAAP net loss from continuing operations was $15.8 million, versus $5.6 million a year earlier, including a $15.5 million non-cash IPR&D expense.
Full-year 2025 revenue guidance was raised to $100.0 million to $103.0 million from $95.5 million to $99.0 million.
Adjusted EBITDA was $6.1 million, or 24% of revenue, compared with $3.9 million, or 20% of revenue, in Q2 2024.
Arrowhead Pharmaceuticals reported results for the fiscal 2025 third quarter ended June 30, 2025, with revenue of $27.8 million compared with none a year earlier. The net loss attributable to the company was $175.2 million, up from $170.8 million, while the diluted loss per share narrowed to $1.26 from $1.38. The filing also described a $130 million upfront payment from Sanofi tied to a Greater China deal for a majority-owned subsidiary, and a $100 million Sarepta milestone payment.
Revenue of $27.8 million in the quarter, versus $0 in the same period a year earlier
Net loss attributable to Arrowhead of $175.2 million, versus $170.8 million a year earlier; diluted loss per share of $1.26, versus $1.38
Research and development expenses of $162.4 million and general and administrative expenses of $30.9 million
Total cash resources of $900.4 million as of June 30, 2025, and a PDUFA action date of November 18, 2025 for plozasiran
LegalZoom reported second-quarter 2025 revenue of $192.5 million, up 9% year over year, and a net loss of $0.3 million, compared with net income of $1.3 million a year earlier. The company raised its full-year 2025 revenue growth outlook to approximately 8% from 5%, while keeping its Adjusted EBITDA margin outlook at approximately 23%, so shareholders get faster top-line growth alongside a swing to a small loss.
Q2 revenue $192.5 million, up 9% year over year; subscription revenue $119.9 million, up 10%
Q2 net loss $0.3 million versus net income $1.3 million in Q2 2024; Adjusted EBITDA $39.0 million versus $28.9 million
2025 revenue growth outlook raised to approximately 8% from 5%; Adjusted EBITDA margin outlook maintained at approximately 23%
Q3 2025 outlook: revenue of $182 million to $184 million and Adjusted EBITDA of $44 million to $46 million
Expedia Group reported second quarter 2025 revenue of $3,786 million, up 6% from a year earlier, and gross bookings of $30,409 million, up 5%. GAAP diluted earnings per share fell 11% to $2.48, while adjusted EPS rose 21% to $4.24, and the company raised its full-year 2025 guidance. The company also declared a quarterly dividend of $0.40 per share and repurchased $627 million of shares in the quarter.
Q2 2025 revenue $3,786 million, up 6%; gross bookings $30,409 million, up 5%
GAAP diluted EPS $2.48, down 11%; adjusted EPS $4.24, up 21%
Full-year 2025 gross bookings guidance raised to 3-5% from 2-4%; revenue guidance raised to 3-5% from 2-4%
Quarterly dividend of $0.40 per share payable September 18, 2025 to holders of record on August 28, 2025
APA reported second-quarter 2025 net income attributable to common stock of $603 million, or $1.67 per diluted share, up from $541 million, or $1.46, a year earlier, while total revenues fell to $2.18 billion from $2.54 billion. The company also accelerated its cost-reduction program to $350 million in run-rate savings by 2026 and reduced net debt by more than $850 million during the quarter, which matters to shareholders because it bears on both earnings quality and balance-sheet strength.
Net income attributable to common stock was $603 million, or $1.67 per diluted share, versus $541 million, or $1.46, in Q2 2024.
Total revenues were $2.18 billion, compared with $2.54 billion in the same quarter last year; adjusted earnings were $313 million, or $0.87 per diluted share.
Net debt fell to $4.4 billion at June 30, 2025, from $5.3 billion at March 31, 2025; APA returned $140 million to shareholders through dividends and buybacks.
The 2026 run-rate savings target of $350 million was pulled forward from year-end 2027, and the 2025 realized savings target rose to $200 million from $130 million.
ACI Worldwide reported second-quarter 2025 revenue of $401 million, up 7% from a year earlier, but net income fell to $12 million from $31 million and adjusted EBITDA fell 13% to $81 million. The company raised its full-year 2025 revenue and adjusted EBITDA guidance and repurchased 2.4 million shares for $119 million in the quarter, so shareholders see stronger full-year expectations alongside weaker quarterly profit.
Q2 2025 revenue was $401 million, up 7%; recurring revenue was $322 million, up 13%.
Q2 2025 diluted EPS was $0.12, versus $0.29 in Q2 2024; first-half net income of $71 million included a $22 million after-tax gain on the sale of the Mindgate stake.
Full-year 2025 revenue guidance was raised to $1.710 billion to $1.740 billion from $1.690 billion to $1.720 billion; adjusted EBITDA guidance was raised to $490 million to $505 million from $480 million to $495 million.
Q3 2025 guidance calls for revenue of $460 million to $470 million and adjusted EBITDA of $155 million to $165 million.
Sabre reported second-quarter 2025 revenue of $687 million, down 1% from $695 million a year earlier, and a net loss attributable to common stockholders of $256 million, versus $70 million in the second quarter of 2024. Operating income rose to $89 million from $49 million, but the larger loss reflected higher tax provisions and an $85 million loss on debt extinguishment, and the company also updated its full-year 2025 outlook.
Revenue was $687 million, down 1% from $695 million in Q2 2024; net loss attributable to common stockholders was $256 million, versus $70 million.
Operating income was $89 million, up from $49 million, with operating margin of 13% versus 7%.
Closed the $1.1 billion sale of Hospitality Solutions in July 2025 and repaid more than $1 billion of debt.
Full-year 2025 pro forma Adjusted EBITDA scenarios range from about $530 million to $570 million, depending on industry bookings growth.
Collegium reported second-quarter 2025 product revenue of $188.0 million, up 29% from a year earlier, and raised its full-year 2025 product revenue guidance to $745 million to $760 million. GAAP net income fell to $12.0 million, or $0.34 per diluted share, from $19.6 million, or $0.52, a year earlier, as operating expenses rose. The company also authorized a $150 million share repurchase program running through December 31, 2026.
Q2 2025 product revenue of $188.0 million, up 29% year over year; Jornay PM net revenue of $32.6 million, with prescriptions up 23%
Full-year 2025 product revenue guidance raised to $745 million to $760 million, from $735 million to $750 million; adjusted EBITDA guidance raised to $440 million to $455 million
GAAP net income of $12.0 million ($0.34 diluted EPS) for Q2 2025, versus $19.6 million ($0.52) for Q2 2024
Board authorized a $150 million share repurchase program through December 31, 2026; cash and marketable securities were $222.2 million at June 30, 2025
Cogent Communications reported second-quarter 2025 service revenue of $246.2 million, down 0.3% from the first quarter and 5.5% from a year earlier, and a net loss of $57.8 million, or $(1.21) per share, compared with $(1.09) per share in the first quarter. The company also raised its quarterly dividend to $1.015 per share and increased its buyback program by $100.0 million, which matters to shareholders because it changes capital returns while headline revenue and loss figures moved in opposite directions.
Service revenue was $246.2 million for Q2 2025, versus $247.0 million for Q1 2025 and a 5.5% decline from Q2 2024.
Net loss was $57.8 million, or $(1.21) per share, versus $(1.09) per share in Q1 2025; EBITDA rose 10.8% sequentially to $48.5 million.
Net cash used in operating activities was $44.0 million in Q2 2025, compared with $36.4 million provided in Q1 2025.
The Board approved a regular quarterly dividend of $1.015 per share payable September 5, 2025, and a $100.0 million buyback increase running through December 31, 2026; $7.9 million remained available as of July 31, 2025.
Dentsply Sirona reported second-quarter 2025 net sales of $936 million, down 4.9% from a year earlier, and a GAAP net loss of $45 million, or $0.22 per share, driven by a $214 million net-of-tax goodwill and intangible impairment. Adjusted EPS rose to $0.52 from $0.49, and the company reaffirmed its 2025 outlook, though sales and the impairment charge weigh on the picture for shareholders.
Net sales of $936 million fell 4.9% from $984 million; down 6.7% in constant currency, with United States sales down 18.3%.
GAAP net loss attributable to Dentsply Sirona of $45 million, or $0.22 per share, versus a $4 million loss ($0.02 per share) in the second quarter of 2024.
Adjusted EPS of $0.52 compared with $0.49; 2025 outlook maintained at net sales of $3.60 billion to $3.70 billion and adjusted EPS of $1.80 to $2.00.
Dan Scavilla became CEO effective August 1, 2025; quarterly dividend of $0.16 per share is payable October 10, 2025.
N-able reported second-quarter 2025 revenue of $131.2 million, up 9.9% year over year, and total ARR of $513.7 million, up 14.5%. The company said it exceeded the high end of its second-quarter revenue and adjusted EBITDA guidance and raised its full-year 2025 ARR outlook to $525 million to $530 million, but GAAP net loss was $4.0 million, compared with net income of $9.5 million a year earlier.
Q2 2025 total revenue was $131.2 million, up 9.9% year over year (7.9% in constant currency).
GAAP net loss was $4.0 million, or $0.02 per diluted share, versus net income of $9.5 million in Q2 2024; non-GAAP net income was $20.4 million, or $0.11 per diluted share.
Full-year 2025 ARR outlook was raised to $525 million to $530 million; full-year revenue outlook is $500 million to $503 million.
Q3 2025 guidance calls for revenue of $127 million to $128 million and adjusted EBITDA of $36 million to $37 million.
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