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
At its August 27, 2025 annual meeting, Rocket Lab's stockholders re-elected no one new but elected three Class I directors, ratified Deloitte & Touche as auditor, and approved the executive pay advisory vote. They did not approve an amendment to remove a recently added pass-through voting provision at subsidiary Rocket Lab USA, Inc., because it did not reach the required 66-2/3% of voting power. The company also adopted a Senior Executive Cash Incentive Bonus Plan on August 25, 2025.
Stockholders elected Jon Olson, Merline Saintil and Alex Slusky as Class I directors for terms expiring at the 2028 annual meeting.
The charter amendment for Rocket Lab USA, Inc. received 298,079,255 votes for and 1,925,556 against, short of the required 66-2/3% of voting power.
Compensation Committee adopted the Senior Executive Cash Incentive Bonus Plan on August 25, 2025; the full plan is filed as Exhibit 10.1.
Stockholders approved the named executive officer compensation on an advisory basis, with 240,340,772 votes for and 58,526,365 against.
Greif reported fiscal third-quarter 2025 results, with net income attributable to Greif falling to $64.0 million from $87.1 million a year earlier, mainly due to a $46.1 million gain on the 2024 Delta Petroleum divestiture. Combined Adjusted EBITDA rose 11% to $220.9 million and adjusted free cash flow was $170.7 million, while the company also agreed to sell its timberlands business for $462.0 million and kept its fiscal 2025 guidance of $725 million to $735 million in Combined Adjusted EBITDA.
Net income attributable to Greif fell to $64.0 million, or $1.10 per diluted Class A share, from $87.1 million, or $1.50, a year earlier
Net income excluding adjustments rose 11.6% to $60.4 million, or $1.03 per diluted Class A share, versus $0.92 a year earlier
Combined Adjusted EBITDA rose 11% to $220.9 million; fiscal 2025 outlook is $725 million to $735 million
Agreed sale of timberlands business for $462.0 million to Molpus Woodlands Group, with closing anticipated October 1, 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.
J&J Snack Foods said on August 28, 2025 that it committed to a plan to optimize its manufacturing footprint, including closing certain plants. The company expects pre-tax plant closure and asset impairment charges of $12 million to $20 million across its fiscal fourth quarter of 2025 and into fiscal 2026, and estimates about $15 million in annualized pre-tax savings once closures are complete.
Expected pre-tax charges of $12 million to $20 million, including $4 million to $8 million of non-cash asset write-downs and write-offs
Severance and benefit costs of $2 million to $3 million, and other exit and disposal costs of $6 million to $9 million
Closure activities expected to be completed in fiscal year 2026, with approximately $15 million in annualized pre-tax cost savings
Savings will be part of the previously announced transformation program
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.
Best Buy reported second-quarter revenue of $9.44 billion, up from $9.29 billion a year earlier, with comparable sales rising 1.6%. Diluted EPS fell to $0.87 from $1.34, and adjusted diluted EPS was $1.28 versus $1.34, after $114 million of restructuring charges. The company kept its FY26 adjusted diluted EPS guidance of $6.15 to $6.30, so shareholders see higher sales but lower profit in the quarter.
Revenue of $9.44 billion versus $9.29 billion a year earlier; enterprise comparable sales rose 1.6% versus a 2.3% decline
Diluted EPS of $0.87 versus $1.34; adjusted diluted EPS of $1.28 versus $1.34
Restructuring charges of $114 million in Q2 FY26, including approximately $40 million of asset impairments
FY26 adjusted diluted EPS guidance of $6.15 to $6.30 reiterated; quarterly dividend of $0.95 per share payable October 9, 2025
Hormel Foods reported third-quarter fiscal 2025 results, with net sales up 4.6% to $3.03 billion while adjusted diluted EPS fell to $0.35 from $0.37 a year earlier. Management said commodity input costs were the largest contributor to the earnings shortfall and expects profit recovery to lag into next year, which matters to shareholders because profit is under pressure even as sales grow.
Net sales were $3.03 billion, up 4.6%; GAAP diluted EPS was $0.33 versus $0.32, and adjusted diluted EPS was $0.35 versus $0.37.
Operating income was $240 million, and adjusted operating income was $254 million, compared with $267 million a year earlier.
Fourth-quarter outlook calls for net sales of $3.15 billion to $3.25 billion and adjusted diluted EPS of $0.38 to $0.40.
Interim CEO Jeff Ettinger said the company fell short of its expectations and is taking targeted pricing actions to address commodity inflation.
HP Inc. reported fiscal 2025 third-quarter results for the quarter ended July 31, 2025, with net revenue of $13.9 billion, up 3.1% year over year, and GAAP diluted EPS of $0.80, up from $0.65. Non-GAAP diluted EPS fell 11% to $0.75 from $0.84, and the GAAP operating margin dropped to 5.1% from 7.0%. For fiscal 2025, HP expects free cash flow of $2.6 billion to $3.0 billion.
Net revenue of $13.9 billion, up 3.1% year over year; Personal Systems revenue rose 6% and Printing fell 4%
GAAP diluted EPS of $0.80 versus $0.65 a year earlier; non-GAAP diluted EPS of $0.75 versus $0.84
Fourth-quarter outlook: GAAP diluted EPS of $0.75 to $0.85 and non-GAAP diluted EPS of $0.87 to $0.97
Returned $0.4 billion to shareholders in the quarter through dividends and share repurchases
NetApp reported first-quarter fiscal 2026 results ended July 25, 2025, with net revenues up 1% to $1.56 billion and GAAP net income down 6% to $233 million. The company also issued second-quarter and full-year fiscal 2026 revenue guidance above the prior-year quarter's level, with GAAP EPS guidance for the second quarter of $1.35 to $1.45.
Net revenues were $1.559 billion, up from $1.541 billion; GAAP net income was $233 million versus $248 million; GAAP diluted EPS was $1.15 versus $1.17.
Billings grew 4% to $1.511 billion; cash provided by operations was $673 million versus $341 million.
Q2 fiscal 2026 net revenue guidance is $1.615 billion to $1.765 billion; full-year guidance is $6.625 billion to $6.875 billion, with full-year GAAP EPS of $5.72 to $6.02.
Next quarterly dividend is $0.52 per share, payable October 22, 2025, to holders of record on October 3, 2025.
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.
Photronics reported third quarter fiscal 2025 revenue of $210.4 million, down 0.3% from a year earlier, and GAAP net income attributable to shareholders of $22.9 million, or $0.39 per diluted share, versus $0.55 a year earlier. The company guided fourth quarter revenue to $201 million to $209 million and non-GAAP diluted EPS to $0.42 to $0.48, and its board raised the share repurchase authorization by $25.0 million.
Q3 fiscal 2025 revenue was $210.4 million, down 0.3% year over year and 0.3% sequentially.
GAAP diluted EPS was $0.39 versus $0.55 a year earlier; non-GAAP diluted EPS was $0.51, the same as a year earlier.
Fourth quarter fiscal 2025 guidance calls for revenue of $201 million to $209 million and non-GAAP diluted EPS of $0.42 to $0.48.
The board approved a $25.0 million increase to the share repurchase authorization.
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
Donaldson reported fiscal fourth-quarter 2025 sales of $980.7 million, up 4.8%, and GAAP EPS of $0.97, up 7.8%. For the full year, sales rose 2.9% to $3.7 billion, but GAAP EPS fell 9.8% to $3.05, and the company recorded a $62.0 million impairment charge. The company forecast fiscal 2026 EPS of $3.92 to $4.08 and sales growth of 1% to 5%.
Q4 sales $980.7 million, up 4.8%; GAAP EPS $0.97, up 7.8%; adjusted EPS $1.03, up 9.6%
Full-year sales $3.7 billion, up 2.9%; GAAP EPS $3.05, down 9.8%; adjusted EPS $3.68, up 7.6%
Fiscal 2026 EPS forecast $3.92 to $4.08; sales projected to rise 1% to 5%, or $3.8 billion at the midpoint
About $465 million returned to shareholders in fiscal 2025 through share repurchases and dividends
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.
Box reported fiscal second-quarter 2026 revenue of $294.0 million, up 9% from a year earlier, and non-GAAP operating income of $84.0 million, up from $76.7 million. GAAP diluted EPS fell to $0.05 from $0.10, mainly because of non-cash deferred tax expense, which the company says will also weigh on its third-quarter and full-year 2026 EPS. The company guided full-year fiscal 2026 revenue to $1.170 billion to $1.175 billion.
Q2 revenue of $294.0 million, up 9% (7% in constant currency); remaining performance obligations of $1.5 billion, up 16%
GAAP diluted EPS of $0.05 vs. $0.10, including a $0.04 negative impact from non-cash deferred tax expense; non-GAAP diluted EPS of $0.33 vs. $0.44
Q3 FY26 revenue guidance of $298 million to $299 million; full-year FY26 non-GAAP EPS guidance of $1.26 to $1.28
Net cash from operating activities of $46.0 million, up 27%; non-GAAP free cash flow of $35.7 million, up 9%
Indivior PLC said on August 26, 2025 that it began an initial cost-cutting initiative under its Indivior Action Agenda, which aims to simplify the organization by eliminating non-essential activities. The company expects total pre-tax restructuring charges of $39 million to $50 million, of which $27 million to $35 million will be cash, mostly in the third and fourth quarters of 2025, and it is exploring strategic alternatives for OPVEE and its non-U.S. business. The charges reduce near-term earnings, while the company says the actions are designed to generate operational momentum.
Headcount reductions: pre-tax severance and exit charges of about $16 million to $19 million, mostly in Q3 2025
Real estate consolidation: pre-tax cash and non-cash asset charges of about $15 million to $22 million in Q3 2025
Consulting, legal and tax planning: pre-tax expenses of about $8 million to $9 million in Q3 2025
Company will exclude these charges from non-GAAP measures and may incur further one-time costs if it divests or restructures OPVEE or non-U.S. assets
Semtech reported second-quarter fiscal 2026 net sales of $257.6 million, up 20% from $215.4 million a year earlier, and adjusted diluted earnings per share of $0.41 versus $0.11. The company posted a GAAP net loss of $27.1 million, or $0.31 per diluted share, after a $42.0 million goodwill impairment, though this compares with a $170.3 million GAAP net loss a year ago. The company also guided third-quarter fiscal 2026 net sales to $266.0 million, plus or minus $5.0 million, and adjusted diluted earnings per share to $0.44, plus or minus $0.03.
Q2 fiscal 2026 net sales were $257.6 million, up from $215.4 million in Q2 fiscal 2025 and $251.1 million in Q1 fiscal 2026.
GAAP net loss was $27.1 million, or $0.31 per diluted share, including a $42.0 million goodwill impairment; the year-ago GAAP net loss was $170.3 million.
Adjusted diluted earnings per share were $0.41, up from $0.11 a year ago; adjusted operating margin was 18.8%, up from 14.2%.
Third-quarter fiscal 2026 outlook: net sales of $266.0 million plus or minus $5.0 million and adjusted diluted earnings per share of $0.44 plus or minus $0.03.
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
ScanSource reported fourth-quarter and fiscal 2025 results for the year ended June 30, 2025. Q4 net sales rose 8.9% and GAAP diluted EPS rose to $0.88 from $0.64, while full-year net sales fell 6.7% and GAAP diluted EPS slipped to $3.00 from $3.06. The company also issued fiscal 2026 guidance calling for net sales of $3.1 billion to $3.3 billion and adjusted EBITDA of $150 million to $160 million.
Q4 FY25 net sales were $812.9 million, up 8.9% year over year, and GAAP diluted EPS was $0.88 versus $0.64.
FY25 net sales were $3.04 billion, down 6.7%, and GAAP diluted EPS was $3.00 versus $3.06; non-GAAP diluted EPS was $3.57 versus $3.08.
FY26 outlook: net sales of $3.1 billion to $3.3 billion, adjusted EBITDA of $150 million to $160 million, and free cash flow of at least $80 million.
At June 30, 2025, cash was $126.2 million and total debt was $136.1 million; FY25 share repurchases totaled $106.5 million.
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.
The Marzetti Company reported results for the fourth quarter and fiscal year ended June 30, 2025. Fourth-quarter net sales rose 5.0% to a record $475.4 million, but diluted earnings per share fell to $1.18 from $1.26 as SG&A costs and restructuring charges increased, so the quarter shows mixed results for shareholders.
Q4 net sales rose 5.0% to $475.4 million; excluding $12.2 million in temporary supply agreement sales with Winland Foods, sales rose 2.3%.
Q4 diluted EPS was $1.18 versus $1.26 a year earlier; restructuring and impairment charges of $5.1 million related to the planned Milpitas, California facility closure.
Fiscal year net income was $167.3 million, or $6.07 per diluted share, versus $158.6 million, or $5.76, in fiscal 2024.
For fiscal 2026, the company expects Retail volume growth and a modest level of input cost inflation, without a numeric sales or earnings forecast in the release.
John B. Sanfilippo & Son reported fiscal 2025 fourth-quarter and full-year results. Quarterly diluted EPS rose 33.7% even as net sales slipped 0.2% and gross profit fell 2.4%, while full-year net sales rose 3.8% but diluted EPS fell 2.3%. The release gives no numeric fiscal 2026 forecast and cites tariffs, inflation and commodity costs as ongoing uncertainties.
Q4 net sales fell 0.2% to $269.1 million; Q4 diluted EPS rose 33.7% to $1.15
Full-year net sales rose 3.8% to $1.11 billion; full-year diluted EPS fell 2.3% to $5.03
Gross profit margin fell to 18.4% for the full year from 20.1%, mainly due to higher commodity acquisition costs
Special dividend of $0.60 per share and annual dividend of $0.90 per share, both payable September 11, 2025
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.
Performance Food Group reported fourth-quarter and full-year fiscal 2025 results for periods ended June 28, 2025, in a press release furnished as Exhibit 99.1. Quarterly net sales grew 11.5% to $16.9 billion, but GAAP net income fell 21.0% to $131.5 million as depreciation, amortization and interest expense rose following acquisitions, including Cheney Brothers. The company also issued fiscal 2026 guidance calling for net sales of $67 billion to $68 billion and Adjusted EBITDA of $1.9 billion to $2.0 billion.
Q4 fiscal 2025 net sales rose 11.5% to $16.9 billion, while diluted EPS fell 21.5% to $0.84
Q4 Adjusted Diluted EPS rose 6.9% to $1.55; full-year Adjusted Diluted EPS rose 4.2% to $4.48 (non-GAAP)
Fiscal 2026 outlook: net sales of $67 billion to $68 billion and Adjusted EBITDA of $1.9 billion to $2.0 billion
On May 27, 2025, the board authorized a new $500 million share repurchase program; $500 million remained available as of June 28, 2025
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
Liquidia reported second quarter 2025 total revenue of $8.8 million, up from $3.7 million a year earlier, as YUTREPIA began commercial sales after FDA approval on May 23, 2025. The net loss widened to $41.6 million, or $0.49 per share, from $28.7 million, or $0.38 per share, as selling, general and administrative expenses rose to $38.8 million. Cash and cash equivalents were $173.4 million at June 30, 2025, and the filing includes no financial guidance.
Total revenue was $8.8 million versus $3.7 million a year earlier, including $6.5 million in YUTREPIA product sales.
Net loss was $41.6 million, or $0.49 per share, compared with $28.7 million, or $0.38 per share.
SG&A expenses were $38.8 million versus $19.9 million, including a $5.8 million rise in legal fees tied to YUTREPIA litigation.
As of August 8, specialty pharmacies reported more than 900 unique patient prescriptions and more than 550 patient starts.
Celanese reported second quarter 2025 net sales of $2.5 billion, up 6% from the first quarter but below $2.65 billion a year earlier, and adjusted earnings per share of $1.44 versus $2.38 in the second quarter of 2024. GAAP diluted EPS was $1.90, aided by a $77 million tax benefit. The company expects third quarter adjusted EPS of $1.10 to $1.40 and reaffirmed 2025 free cash flow of $700 to $800 million, citing softening demand in the second half.
Adjusted EPS was $1.44 versus $2.38 in Q2 2024; GAAP diluted EPS was $1.90, including a $77 million tax benefit
Net sales were $2,532 million versus $2,651 million in Q2 2024, and up 6% from $2,389 million in Q1 2025
Third quarter 2025 adjusted EPS is expected at $1.10 to $1.40; 2025 free cash flow target is $700 to $800 million, with Q2 free cash flow at $311 million
Macerich reported a second-quarter 2025 net loss attributable to the company of $40.9 million, or $0.16 per diluted share, compared with net income of $252.0 million a year earlier. That prior-year period included a $334.3 million gain tied to the Chandler Fashion Center transaction, so the comparison is distorted, but FFO excluding certain items fell to $0.33 per share from $0.39, while total revenues rose to $249.8 million from $215.5 million.
Q2 2025 total revenues were $249.8 million, up from $215.5 million in Q2 2024.
Q2 2025 net loss attributable to the company was $40.9 million, or $0.16 per diluted share, versus net income of $252.0 million, or $1.16 per share, in Q2 2024.
FFO excluding certain items was $87.3 million, or $0.33 per share, versus $88.1 million, or $0.39 per share, a year earlier.
Portfolio occupancy was 92.0% at June 30, 2025, down from 93.3% a year earlier; the company cited Forever 21 closures. The quarterly dividend is $0.17 per share, payable September 23, 2025.
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.
National HealthCare reported net operating revenues of $374.9 million for the quarter ended June 30, 2025, up 24.7% from $300.7 million a year earlier, driven by a 9.6% rise in same-facility revenues and the August 1, 2024 acquisition of White Oak Management. GAAP net income attributable to NHC fell to $23.7 million from $26.8 million, while adjusted net income rose 64.7% to $25.7 million, so shareholders see higher revenue and adjusted earnings alongside lower GAAP earnings.
Net operating revenues $374.9 million vs $300.7 million, up 24.7%; same-facility net operating revenues up 9.6%
GAAP net income attributable to NHC $23.7 million vs $26.8 million; GAAP diluted EPS $1.52 vs $1.73
Adjusted net income $25.7 million vs $15.6 million, up 64.7%; adjusted diluted EPS $1.65 vs $1.00
Dividends declared of $0.64 per common share for the quarter vs $0.61 a year earlier
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
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