1,041 material Form 8-K filings that 824 companies we cover made with the SEC in November 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).
Abercrombie & Fitch reported third-quarter fiscal 2025 results on November 25, 2025, with net sales up 7% to $1.3 billion, while diluted earnings per share fell to $2.36 from $2.50 and operating margin declined to 12.0% from 14.8%. The company narrowed its full-year net income per diluted share outlook to $10.20 to $10.50 from $10.00 to $10.50, raising the low end of the range, and repurchased $100 million of shares in the quarter.
Q3 net sales of $1.3 billion, up 7% from a year earlier; comparable sales rose 3%.
Operating income of $155 million vs. $179 million a year earlier; diluted EPS of $2.36 vs. $2.50.
Full-year fiscal 2025 diluted EPS outlook narrowed to $10.20 to $10.50 from $10.00 to $10.50; Q4 EPS outlook is $3.40 to $3.70.
$100 million of shares repurchased in Q3; $950 million remains on the March 2025 authorization.
HP reported fiscal 2025 results on November 25, 2025, with net revenue of $55.3 billion, up 3.2%, while GAAP diluted EPS fell 5.7% to $2.65 and non-GAAP diluted EPS fell 9.0% to $3.12. The same day, the Board approved an AI-focused plan with approximately $650 million in restructuring and other charges and estimated gross run rate savings of approximately $1 billion by the end of fiscal 2028. The company also raised its quarterly dividend to $0.30 per share, and its fiscal 2026 non-GAAP diluted EPS outlook is $2.90 to $3.20.
FY25 net revenue was $55.3 billion, up 3.2%; GAAP diluted EPS was $2.65, down from $2.81 a year earlier.
The plan includes approximately $650 million in restructuring and other charges, of which approximately $550 million is cash, with approximately $250 million in fiscal 2026.
Workforce reductions of approximately 4,000 to 6,000 employees are expected by the end of fiscal 2028, with about $400 million of the charges in labor costs.
Quarterly dividend increases to $0.30 per share, payable January 2, 2026 to holders of record as of December 11, 2025.
J.M. Smucker reported fiscal 2026 second-quarter net sales of $2.3 billion, up 3%, driven by higher net pricing, while adjusted earnings per share fell 24% to $2.10. The company narrowed its full-year adjusted EPS guidance to $8.75 to $9.25 from $8.50 to $9.50, which keeps the midpoint at $9.00 unchanged.
Net sales were $2,330.1 million, up 3% from $2,271.2 million; excluding divestitures and currency, sales rose 5%.
Adjusted EPS was $2.10 versus $2.76 a year earlier; GAAP diluted EPS was $2.26 versus a loss of $0.23.
Fiscal 2026 adjusted EPS guidance is $8.75 to $9.25, down from the prior $8.50 to $9.50 range at the top end and up at the bottom; net sales growth guidance is 3.5% to 4.5%.
Free cash flow was $280.2 million versus $317.2 million a year earlier; full-year free cash flow guidance is unchanged at $975.0 million.
DICK'S Sporting Goods reported third-quarter results that showed higher sales but a sharp drop in GAAP earnings per share, which fell to $0.86 from $2.75 a year earlier, largely reflecting the September 8, 2025 Foot Locker acquisition. The company raised its full-year 2025 comparable sales and EPS outlook for the DICK'S Business, while expecting future pre-tax charges of $500 million to $750 million tied to reviewing unproductive Foot Locker assets and merger costs.
Q3 GAAP EPS was $0.86 versus $2.75 a year earlier; non-GAAP EPS for the DICK'S Business was $2.78 versus $2.75
Full-year 2025 DICK'S Business EPS guidance raised to $14.25 to $14.55 from $13.90 to $14.50; comparable sales guidance raised to 3.5% to 4.0% from 2.0% to 3.5%
Foot Locker acquired September 8, 2025 for $2.5 billion; Q4 Foot Locker gross margin expected to be down 1,000 to 1,500 basis points
Quarterly dividend of $1.2125 per share declared, payable December 26, 2025 to holders of record on December 12, 2025
Best Buy reported third-quarter fiscal 2026 results with enterprise revenue of $9.67 billion and comparable sales up 2.7%, after a 2.9% decline a year earlier. GAAP diluted EPS fell to $0.66 from $1.26 because of a $171 million goodwill and intangible impairment tied to Best Buy Health, while adjusted diluted EPS rose to $1.40 from $1.26. The company raised its FY26 adjusted diluted EPS guidance to $6.25 to $6.35 from $6.15 to $6.30.
Enterprise revenue of $9,672 million in Q3 FY26 vs. $9,445 million a year earlier; comparable sales up 2.7%
GAAP diluted EPS of $0.66 vs. $1.26 last year, reflecting $192 million of Best Buy Health impairments in the quarter
Adjusted diluted EPS of $1.40 vs. $1.26 last year
FY26 guidance raised: adjusted diluted EPS to $6.25 to $6.35 (from $6.15 to $6.30) and revenue to $41.65 billion to $41.95 billion (from $41.1 billion to $41.9 billion)
Kohl's reported third-quarter fiscal 2025 results, with net sales down 2.8% to $3.4 billion and diluted EPS of $0.07 versus $0.20 a year earlier. The company raised its full-year 2025 outlook, though it still expects net sales to fall 3.5% to 4%, and named Michael Bender permanent CEO. Shareholders face a mixed picture: weaker sales and profit in the quarter alongside a higher full-year outlook.
Q3 net sales fell 2.8% to $3.4 billion; comparable sales fell 1.7%
Q3 diluted EPS was $0.07 versus $0.20 a year earlier; adjusted diluted EPS was $0.10 versus $0.20
Full-year 2025 adjusted diluted EPS guidance is $1.25 to $1.45; net sales guidance is a decrease of 3.5% to 4%
Nine-month net income of $147 million included a $129 million gain on a credit card interchange fee lawsuit settlement
Matthews International reported fourth-quarter fiscal 2025 sales of $318.8 million, down 28.6% from a year earlier, and a GAAP net loss of $27.5 million, or $0.88 per diluted share, compared with a loss of $68.2 million a year earlier. The company said the SGK divestiture was a significant factor in the year-over-year comparison. It also targets fiscal 2026 adjusted EBITDA of at least $180 million, below the $187.5 million reported for fiscal 2025.
Q4 sales of $318.8 million vs. $446.7 million a year earlier; fiscal 2025 sales of $1.50 billion vs. $1.80 billion
Q4 non-GAAP EPS of $0.50 vs. $0.55 a year earlier; fiscal 2025 non-GAAP EPS of $1.26 vs. $2.17
Fiscal 2026 adjusted EBITDA target of at least $180 million, including the 40% share of Propelis, vs. $187.5 million in fiscal 2025
Pending warehouse automation sale is expected to reduce the net leverage ratio below 3.0x, with proceeds mainly for debt reduction
BJ's Wholesale Club Holdings reported third-quarter fiscal 2025 results for the thirteen weeks ended November 1, 2025. Total revenues rose 4.9% to $5.35 billion, but net income fell 2.4% to $152.1 million and diluted EPS slipped to $1.15 from $1.17. The company raised its adjusted EPS outlook for fiscal 2025 to $4.30 to $4.40.
Total revenues rose 4.9% to $5.35 billion; net sales rose 4.8% to $5.22 billion
Net income fell 2.4% to $152.1 million; diluted EPS was $1.15 versus $1.17; adjusted EPS was $1.16 versus $1.18
Fiscal 2025 adjusted EPS outlook raised to $4.30 to $4.40; comparable club sales excluding gasoline guided to rise 2.0% to 3.0%
Membership fee income rose 9.8% to $126.3 million; the company repurchased $87.3 million of stock in the quarter
Verizon said it expects to record a severance charge of $1.6 billion to $1.8 billion in the fourth quarter of 2025 as it cuts over 13,000 positions under a previously announced cost reduction plan. The filing says over 80% of affected employees will leave in December 2025, and the company expects a significant reduction in outsourced, contracted and other outside labor expense. The charge is a large one-time cost, while the cuts aim to lower ongoing costs.
Expected fourth-quarter 2025 severance charge of $1.6 billion to $1.8 billion
Elimination of over 13,000 positions
Over 80% of affected employees expected to exit in December 2025
Significant reduction in outsourced, contracted and other outside labor expense expected
Gap Inc. reported third quarter fiscal 2025 net sales of $3.9 billion, up 3% from a year earlier, with comparable sales up 5%. Diluted earnings per share fell to $0.62 from $0.72, and the company raised its full-year operating margin outlook and its net sales growth outlook, which shareholders should weigh against the lower quarterly profit.
Q3 net sales $3.9 billion, up 3%; comparable sales up 5%, the seventh straight quarter of positive comparable sales
Q3 net income $236 million vs. $274 million a year earlier; diluted EPS $0.62 vs. $0.72
Fiscal 2025 operating margin outlook raised to approximately 7.2% from 6.7% to 7.0%; net sales growth outlook raised to 1.7% to 2.0%
Board approved a fourth quarter fiscal 2025 dividend of $0.165 per share
Abbott agreed on November 19, 2025 to acquire Exact Sciences in a cash deal valued at about $21 billion in equity and $23 billion in enterprise value, with closing expected in the second quarter of 2026. Abbott said the deal is dilutive to adjusted earnings per share through 2027 and expects it to be accretive in 2028 and beyond, so the acquisition has a near-term cost to Abbott's per-share earnings.
Exact Sciences shareholders will receive $105 per common share in cash, subject to a shareholder vote and regulatory approvals.
Abbott's adjusted EPS impact is dilutive: ($0.20) in 2026 and ($0.16) in 2027, with accretion expected in 2028.
Abbott has a $20 billion senior unsecured bridge loan commitment from Morgan Stanley Senior Funding, Inc.
Abbott expects at least $100 million in annual pre-tax synergies by 2028 and an initial 2026 adjusted gross debt-to-EBITDA ratio of about 2.7x.
Palo Alto Networks agreed to acquire observability platform Chronosphere for a total consideration of $3.35 billion, paid in cash and replacement equity awards, subject to adjustments and closing conditions including regulatory approvals. In its fiscal first quarter ended October 31, 2025, revenue grew 16% to $2.5 billion, while GAAP net income fell to $334 million from $351 million. The board also extended a $1 billion share repurchase authorization to December 31, 2026.
Chronosphere acquisition: $3.35 billion total consideration, expected to close in the second half of fiscal 2026
Fiscal Q1 2026: revenue up 16% to $2.5 billion; GAAP net income $334 million, or $0.47 per diluted share, versus $351 million, or $0.49, a year earlier
Non-GAAP net income $662 million, or $0.93 per diluted share, versus $545 million, or $0.78, a year earlier
Board approved extending the $1 billion buyback authorization to December 31, 2026; about 697 million shares outstanding as of November 11, 2025
Universal Technical Institute reported fiscal 2025 revenue of $835.6 million, up 14.0%, and net income of $63.0 million, up 50.0%, with diluted EPS of $1.13 versus $0.75. For fiscal 2026 it guided to net income of $40 million to $45 million and diluted EPS of $0.71 to $0.80, both down 33% at the midpoint, and it said planned growth investments will temporarily moderate margins.
FY2025 revenue $835.6 million, up 14.0%; net income $63.0 million, up 50.0%; diluted EPS $1.13 versus $0.75
Q4 FY2025 revenue $222.4 million, up 13.3%; Q4 net income $18.8 million, flat versus $18.8 million; Q4 adjusted EBITDA $36.8 million, down 1.4%
FY2026 guidance: revenue $905 million to $915 million; net income $40 million to $45 million; adjusted EBITDA $114 million to $119 million versus $126.5 million in FY2025
Company expects to open at least two and up to five campuses and launch about 20 new programs annually, pending regulatory approval
Lowe's reported third-quarter 2025 sales of $20.8 billion, up from $20.2 billion a year earlier, but diluted EPS fell to $2.88 from $2.99. Adjusted diluted EPS rose 5.9% to $3.06 after excluding $129 million in acquisition-related expenses. The company raised its full-year sales outlook to $86.0 billion but lowered its comparable sales and adjusted operating margin outlook, so the update is mixed for shareholders.
Net earnings were $1.6 billion ($1,616 million) versus $1.7 billion ($1,695 million) in the prior-year quarter.
Comparable sales rose 0.4%, with online sales up 11.4%.
Full-year comparable sales are now expected to be flat, previously flat to up 1%; adjusted operating margin is now 12.1%, previously 12.2% to 12.3%.
Full-year adjusted diluted EPS is now approximately $12.25, previously $12.20 to $12.45.
Griffon reported fiscal 2025 revenue of $2.5 billion, down 4% from the prior year, and net income of $51.1 million ($1.09 per share), down from $209.9 million ($4.23 per share). Results included a $217.2 million net-of-tax charge for third-quarter goodwill and intangible asset impairments in the Consumer and Professional Products segment, while adjusted net income rose to $263.6 million ($5.65 per share). The company also announced a 22% increase in its regular quarterly dividend to $0.22 per share.
Fiscal 2025 revenue was $2.5 billion, down 4% from $2.6 billion; fourth-quarter revenue was $662.2 million, up from $659.7 million.
Fourth-quarter net income was $43.6 million ($0.95 per share), down from $62.5 million ($1.29 per share); adjusted net income was $70.9 million ($1.54 per share) versus $70.9 million ($1.47 per share).
Free cash flow was $323.0 million in fiscal 2025, and leverage fell to 2.4x from 2.6x; the company repurchased 1.9 million shares for $134.7 million.
For fiscal 2026, Griffon expects revenue of $2.5 billion and adjusted EBITDA of $580 million to $600 million.
Valvoline reported fourth-quarter and fiscal 2025 results, with Q4 net revenues up 4% to $453.8 million but reported diluted EPS down 71% to $0.20. The company said it expects to close the $593 million Breeze Autocare acquisition on December 1, 2025, funded by a new $740 million Term Loan B, and gave fiscal 2026 adjusted EPS guidance of $1.60 to $1.70.
Q4 net revenues $453.8 million, up 4%; system-wide same-store sales up 6.0%
Q4 income from continuing operations $25.6 million, down 71%; adjusted EPS $0.45, down 2%
Fiscal 2026 outlook includes Breeze: net revenues $2.0 to $2.1 billion, adjusted EBITDA $525 to $550 million, adjusted EPS $1.60 to $1.70
Breeze deal: $593 million net purchase price, closing planned December 1, 2025; Investor Update scheduled December 11, 2025
Alkermes amended its agreement to acquire Avadel Pharmaceuticals, raising the cash payment from $18.50 to $21.00 per Avadel share, with the $1.50 contingent value right unchanged. To fund the cash payment, Alkermes entered an amended bridge term loan of up to $1.5 billion that carries variable-rate interest and covenants, and Avadel's board said Lundbeck's competing proposal no longer qualifies as superior. Shareholders face a higher acquisition price and more debt, with closing still expected in the first quarter of 2026.
Cash consideration raised from $18.50 to $21.00 per Avadel share; CVR of up to $1.50 per share unchanged
Total consideration up to $22.50 per share, valuing Avadel at up to approximately $2.37 billion if the milestone payment is made
Bridge loan of up to $1.5 billion with JPMorgan Chase, maturing 364 days after funding; interest at Term SOFR plus 3.00% or base rate plus 2.00%
Avadel board determined Lundbeck's proposal no longer a Company Superior Proposal; closing expected in the first quarter of 2026
Kroger said it will close certain U.S. fulfillment centers as part of updates to its eCommerce plan and expects impairment and related charges of approximately $2.6 billion in its third fiscal quarter of 2025. The company expects the changes to improve eCommerce operating profit by approximately $400 million in 2026, which matters to shareholders because the charge is large and the profit benefit is a company estimate that depends on the plan's results.
Expected impairment and related charges of approximately $2.6 billion in the third fiscal quarter of 2025
Facilities in Pleasant Prairie, Wis.; Frederick, Md.; and Groveland, Fla. will close in January
Kroger expects a positive effect on eCommerce operating profit of approximately $400 million in 2026
Kroger expects the closures to have a neutral effect on identical sales without fuel
La-Z-Boy reported fiscal second-quarter sales of $522 million, up slightly from a year earlier, while GAAP operating income fell 7% and GAAP diluted EPS was $0.70 versus $0.71. The company also completed a 15-store acquisition, plans to exit non-core businesses, proposed closing its U.K. manufacturing facility, and guided third-quarter sales of $525-545 million.
Sales of $522 million for the quarter ended October 25, 2025, up 0.3%; GAAP operating income of $36.2 million, down 7%.
GAAP diluted EPS of $0.70 versus $0.71 a year earlier; adjusted diluted EPS flat at $0.71.
Third-quarter outlook: sales of $525-545 million and adjusted operating margin of 5.0-6.5%.
Quarterly dividend raised 10% to $0.242 per share, payable December 15, 2025, to holders of record on December 4, 2025.
AECOM reported fiscal fourth-quarter 2025 results with revenue up 2% to $4.2 billion, but GAAP net income fell 22% to $132 million and diluted EPS fell 21% to $0.99. For the full year, net income rose 26% to $638 million and diluted EPS rose 29% to $4.79, and the company initiated fiscal 2026 adjusted EPS guidance of $5.65 to $5.85 along with a review of strategic alternatives for its Construction Management business, including a possible sale. The Board also raised the quarterly dividend 19% to $0.31 per share.
Fiscal Q4 2025: revenue $4.2 billion (up 2%), operating income $237 million (flat), net income $132 million (down 22%), diluted EPS $0.99 (down 21%).
Full year fiscal 2025: revenue $16.1 billion (flat), operating income $1.0 billion (up 24%), net income $638 million (up 26%), diluted EPS $4.79 (up 29%).
Fiscal 2026 adjusted EPS guidance of $5.65 to $5.85 for the enterprise-wide business, or $5.15 to $5.35 excluding Construction Management.
Quarterly dividend raised to $0.31 per share from $0.26, payable January 23, 2026 to holders of record as of January 7, 2026.
Home Depot reported third-quarter fiscal 2025 sales of $41.4 billion, up 2.8%, including about $900 million from the GMS acquisition, but diluted earnings per share fell 1.4% to $3.62 and adjusted EPS fell to $3.74 from $3.78. The company said results missed its expectations, citing few storms and weak housing and consumer demand, and it updated its fiscal 2025 guidance to project diluted EPS down about 6.0% from $14.91, which lowers the earnings outlook for shareholders.
Q3 fiscal 2025 net sales $41.4 billion, up $1.1 billion or 2.8%; comparable sales up 0.2%
Q3 diluted EPS $3.62 vs. $3.67 a year earlier; adjusted diluted EPS $3.74 vs. $3.78
Fiscal 2025 guidance: total sales growth about 3.0%, diluted EPS to decline about 6.0% from $14.91, adjusted diluted EPS to decline about 5.0% from $15.24
Spire reported fiscal 2025 net income of $271.7 million ($4.37 per diluted share), up from $250.9 million a year earlier, and adjusted EPS of $4.44, up 7.5% from $4.13. Operating revenues fell to $2.48 billion from $2.59 billion, and the company issued adjusted EPS guidance of $5.25 to $5.45 for fiscal 2026 and $5.65 to $5.85 for fiscal 2027. The board also raised the quarterly common dividend 5.1% to $0.825 per share.
Fiscal 2025 adjusted earnings were $275.5 million ($4.44 per share) versus $247.4 million ($4.13 per share) in fiscal 2024
Operating revenues were $2,476.4 million versus $2,593.0 million; fourth-quarter net loss was $39.8 million ($0.74 per share) versus $25.9 million ($0.51 per share)
Fiscal 2026 adjusted EPS guidance of $5.25 to $5.45 excludes the pending Piedmont Natural Gas Tennessee acquisition; fiscal 2027 guidance of $5.65 to $5.85 includes it
Quarterly common dividend raised to $0.825 per share, payable January 5, 2026, to holders of record December 11, 2025
Under Armour raised its fiscal 2025 restructuring plan by $95 million to up to $255 million of pre-tax charges to be incurred in fiscal 2025 and 2026, and announced the separation of Curry Brand. Its GAAP fiscal 2026 operating outlook moved from income of $19 million to $34 million to a loss of $56 million to $71 million, while its adjusted operating income outlook rose to $95 million to $110 million. For shareholders, the reported loss outlook reflects the restructuring charges, which the company excludes from its adjusted figures.
Restructuring plan increased by $95 million to up to $255 million, including up to $107 million in cash charges and up to $148 million in non-cash charges
As of September 30, 2025, the company had recognized approximately $147 million of restructuring and related charges ($82 million cash, $65 million non-cash)
GAAP fiscal 2026 operating outlook is a loss of $56 million to $71 million, versus prior income of $19 million to $34 million
Adjusted operating income outlook raised to $95 million to $110 million from $90 million to $105 million
Edgewell Personal Care reported fourth-quarter and fiscal 2025 results on November 13, 2025, with a fourth-quarter GAAP net loss of $30.6 million after a $51.1 million goodwill impairment tied to its Feminine Care business. Fiscal 2025 GAAP EPS was $0.53, down from $1.97, and the company gave fiscal 2026 guidance that excludes the planned $340 million sale of Feminine Care to Essity.
Q4 net sales were $537.2 million, up 3.8%, but the company posted a GAAP net loss of $30.6 million, or $0.66 per diluted share, versus net income of $8.8 million a year earlier.
Q4 included a non-cash goodwill impairment charge of $51.1 million for the Feminine Care reporting unit.
Fiscal 2025 net sales were $2,223.5 million, down 1.3%, and GAAP diluted EPS was $0.53 versus $1.97 in fiscal 2024.
Fiscal 2026 adjusted EPS is expected at $2.15 to $2.55, compared with fiscal 2025 adjusted EPS of $2.52; the outlook excludes the $340 million Feminine Care divestiture to Essity.
Edgewell Personal Care agreed on November 12, 2025 to sell its Feminine Care segment to Essity for $340 million in cash, subject to customary adjustments. The closing is expected in the first quarter of calendar 2026, pending regulatory approvals, and the company expects the sale to reduce its adjusted EPS and adjusted EBITDA on an annualized basis, net of transition service income.
Buyer: Essity Aktiebolag (publ); consideration is $340 million in cash, subject to adjustments for inventory, indebtedness and other items
Expected closing in the first quarter of calendar 2026; the outside date is May 12, 2026, with extensions to as late as November 12, 2026
Company expects an annualized impact of approximately $0.40 to $0.50 in adjusted EPS and $35 million to $45 million in adjusted EBITDA, net of transition services income
Net proceeds, after taxes and transaction costs, are intended primarily to strengthen the balance sheet; the company would receive a $15 million termination fee in certain circumstances
Synopsys's Board approved a restructuring plan on November 9, 2025, expected to end about 10% of the company's workforce as of fiscal 2025 year-end, following its acquisition of ANSYS. The company estimates pre-tax GAAP charges of $300 million to $350 million, which will weigh on reported results while management aims to free resources for growth investments and efficiency.
Board approved the restructuring plan on November 9, 2025.
Plan expected to terminate about 10% of workforce as of fiscal 2025 year-end.
Estimated pre-tax GAAP charges of $300 million to $350 million, mainly severance and site closures.
Majority of workforce reductions expected in fiscal 2026; plan substantially complete by end of fiscal 2027.
TransDigm reported fourth-quarter fiscal 2025 results for the period ended September 30, 2025, with net sales up 12% to $2,437 million and net income up 30% to $609 million. The company also issued fiscal 2026 guidance calling for net income of $1,906 million to $2,026 million, below fiscal 2025's $2,074 million, which it attributed mainly to added interest expense from fourth-quarter financing.
Q4 net sales $2,437 million, up 12%; net income $609 million, up 30%; EPS $7.75, up 34%
Q4 GAAP EPS reduced by $2.75 from dividend equivalent payments tied to the $90.00 per share special dividend paid September 12, 2025
FY2026 guidance: net sales $9,750 million to $9,950 million; net income $1,906 million to $2,026 million
FY2026 adjusted EPS guidance of $36.49 to $38.53 versus $37.33 in fiscal 2025
Greif reported a two-month fourth quarter ended September 30, 2025, with a net loss from continuing operations of $43.3 million, compared with net income of $34.0 million a year earlier, while Adjusted EBITDA rose 7.4% to $98.9 million. The company also gave low-end fiscal 2026 guidance of $630 million Adjusted EBITDA and $315 million Adjusted free cash flow, raised its cost optimization commitment to $120 million, and plans a share repurchase of about $150 million.
Q4 net loss from continuing operations of $43.3 million, or $(0.73) per diluted Class A share, versus $34.0 million, or $0.58, a year earlier
Adjusted net income fell 98.2% to $0.6 million, or $0.01 per diluted Class A share
Eleven-month fiscal 2025 net income fell 93.2% to $15.1 million, or $0.28 per diluted Class A share; Adjusted EBITDA rose 3.1% to $511.3 million
Containerboard business sold to Packaging Corporation of America for $1.8 billion; timberlands sale for about $462.0 million completed October 1, 2025
Paramount Skydance reported third-quarter 2025 results, with pro forma revenue flat at $6.7 billion versus Q3 2024. The company reported net losses of $244 million before the August 6 deal close and $13 million after it, and issued a 2026 outlook of $30 billion in total revenue and $3.5 billion in adjusted OIBDA. For shareholders, the filing shows flat sales and losses in the reported periods, alongside higher adjusted OIBDA and a raised cost-savings target.
Pro forma Q3 2025 total revenue was $6.7 billion, flat versus $6.7 billion in Q3 2024.
Adjusted OIBDA was $297 million pre-close and $655 million post-close; the company expects Q4 2025 revenue of $8.1 billion to $8.3 billion and 2026 revenue of $30 billion.
Run-rate efficiency target raised to at least $3 billion from $2 billion, and about 1,000 employees were cut at the end of October.
Chief Executive John Geller resigned at the board's request, effective November 10, 2025, and also left the board. Director Matthew Avril became interim President and CEO, and the board has started a search for a permanent CEO. The company reaffirmed its 2025 guidance and postponed its December 17 Investor Day, while saying it intends to buy back shares under its remaining $347 million program during the quarter.
John Geller resigned as President, CEO and director at the board's request, effective November 10, 2025
Geller's separation agreement provides severance of $5 million and a prorated 2025 target bonus of $1,286,301
Matthew Avril, a director since 2025, will be interim CEO at an annual base salary of $1 million
Company reaffirmed 2025 guidance issued November 5, 2025, and postponed the December 17 Investor Day
Mastercard and its subsidiary entered an updated class settlement with court-appointed counsel for a US merchant injunctive relief class, with Visa also a party. The agreement is subject to final approval by the Eastern District Court of New York, and Mastercard says it would resolve all pending US merchant litigation seeking changes to its interchange structure and merchant acceptance rules. A 10 basis point reduction in the average systemwide effective interchange rate on US-issued consumer and commercial credit transactions would reduce Mastercard's interchange revenue on those transactions, a cost to shareholders that is weighed against the removal of ongoing litigation risk.
Both Mastercard and Visa agree to a 10 basis point reduction in the average systemwide effective interchange rate on US-issued consumer and commercial credit transactions at US merchant locations.
The interchange reduction is designed to act as a cap for five years.
The agreement is subject to final approval by the Eastern District Court of New York, expected most likely in late 2026 or early 2027.
Mastercard does not admit to any improper conduct regarding the plaintiffs' allegations.
Organon reported third-quarter 2025 revenue of $1.602 billion, up 1% as reported and down 1% excluding foreign exchange, while GAAP net income fell to $160 million, or $0.61 per diluted share, from $359 million, or $1.38, a year earlier. The company lowered its full-year 2025 revenue guidance to $6.200 billion to $6.250 billion from $6.275 billion to $6.375 billion, a reduction in its outlook that matters to shareholders. Non-GAAP adjusted diluted EPS rose to $1.01 from $0.87.
Q3 2025 revenue was $1.602 billion, up 1% as reported and down 1% ex-FX; Women's Health fell 3% and Biosimilars rose 19%.
Reported gross margin was 53.5% versus 58.3% a year earlier; one-time manufacturing network optimization costs were the most significant driver.
Full-year 2025 revenue guidance was lowered to $6.200 billion to $6.250 billion; Adjusted EBITDA margin guidance was lowered to about 31.0% from 31.0% to 32.0%.
The board declared a quarterly dividend of $0.02 per share, payable December 11, 2025; Joe Morrissey is interim CEO.
Tyson Foods reported fourth-quarter fiscal 2025 sales of $13,860 million, up 2.2%, and adjusted EPS of $1.15, up 25%, while GAAP EPS fell to $0.13 from $1.00 a year earlier. The company also gave a fiscal 2026 outlook for total adjusted operating income of $2.1 billion to $2.3 billion and raised its quarterly dividend, so shareholders face a mix of higher adjusted results, a sharp GAAP profit decline and a guided adjusted operating income range that sits below fiscal 2025's $2,287 million.
Q4 sales of $13,860 million, up 2.2%; GAAP operating income of $158 million, down 70%
Q4 sales were reduced by $355 million in legal contingency accruals; GAAP EPS of $0.13 versus adjusted EPS of $1.15
Fiscal 2026 outlook: total adjusted operating income of $2.1 billion to $2.3 billion and sales up 2% to 4%, compared with fiscal 2025 adjusted operating income of $2,287 million
Quarterly dividend increased to $0.51 per Class A share, effective November 7, 2025
Coca-Cola Consolidated bought all 18.8 million shares held by a subsidiary of The Coca-Cola Company for approximately $2.4 billion, with the purchase closing on November 7, 2025. The company funded it with cash on hand and a $1.2 billion 364-day bridge term loan, and its board cut the share repurchase program from $1 billion to $400 million. For shareholders, the deal ends the stock rights agreement with The Coca-Cola Company and removes that holder, but it adds $1.2 billion of new borrowing.
Purchased 18.8 million shares at $127 per share, for about $2.4 billion, under an agreement dated November 7, 2025.
Funded with cash on hand and a $1.2 billion 364-day Wells Fargo bridge loan, which bears interest at Term SOFR plus 1.000% based on the current debt rating.
Elaine Bowers Coventry resigned from the board effective at closing, and The Coca-Cola Company gave up its board seat.
Share repurchase authorization reduced from $1 billion to $400 million, with about $136.3 million remaining.
TDS reported third-quarter 2025 operating revenues from continuing operations of $308.5 million, down from $327.5 million a year earlier, while diluted earnings per share from continuing operations rose to $0.33 from a loss of $0.88. The company also authorized a new $500 million share repurchase program and named Anthony Carlson president and CEO of Array effective November 16, 2025.
Q3 2025 operating revenues from continuing operations: $308.5 million, versus $327.5 million in Q3 2024
Diluted EPS from continuing operations: $0.33, versus $(0.88) a year earlier
Net loss attributable to TDS common shareholders: $(99.1) million for the quarter, per the filing's income statement, including $(139.3) million from discontinued operations
New $500 million share repurchase program, with no expiration; TDS repurchased 1,077,564 shares for $40.7 million in Q3
DoubleVerify reported third-quarter 2025 revenue of $188.6 million, up 11% from a year earlier, with adjusted EBITDA of $65.9 million at a 35% margin. Net income fell to $10.2 million from $18.2 million, and diluted EPS was $0.06 versus $0.10. The company raised its full-year 2025 adjusted EBITDA margin guidance to approximately 33% from 32% and expects full-year revenue growth of approximately 14%.
Q3 2025 revenue of $188.6 million, up 11%; activation revenue $106.7 million, up 10%
Net income of $10.2 million versus $18.2 million in Q3 2024; diluted EPS $0.06 versus $0.10
Full-year 2025 adjusted EBITDA margin guidance raised to approximately 33% from 32%
Q4 2025 revenue guidance of $207 million to $211 million; adjusted EBITDA of $77 million to $81 million
Essent Group reported third-quarter 2025 net income of $164.2 million, or $1.67 per diluted share, down from $176.2 million, or $1.65 per diluted share, a year earlier. Total revenues were $311.8 million, compared with $316.6 million in the prior-year quarter, and the Board declared a $0.31 quarterly dividend and approved a new $500 million share repurchase authorization.
Net income was $164.2 million versus $176.2 million a year earlier, while diluted EPS rose to $1.67 from $1.65.
Total revenues were $311.8 million versus $316.6 million in Q3 2024.
Quarterly dividend of $0.31 per share is payable December 10, 2025, to holders of record on December 1, 2025.
Through October 31, the company had repurchased 8.7 million shares for $501 million; a $500 million authorization runs through year-end 2027.
Fluor reported third quarter 2025 revenue of $3.4 billion, down 18% from a year earlier, and a GAAP net loss attributable to Fluor of $697 million. The loss reflects a $653 million charge for the Santos ruling and a $401 million reduction tied to NuScale's share price, while adjusted EPS rose to $0.68 and the company raised its 2025 adjusted EPS and adjusted EBITDA guidance.
Q3 revenue was $3.4 billion, down 18% year over year, reflecting a $653 million reduction for the Santos ruling
Adjusted EPS was $0.68, up 33% year over year; GAAP EPS was ($4.30)
2025 adjusted EBITDA guidance raised to $510 million to $540 million from $475 million to $525 million
Q3 share repurchases were $70 million, with an additional $800 million targeted through February
Alliant Energy reported third-quarter 2025 GAAP EPS of $1.09, down from $1.15, and ongoing EPS of $1.12, also down from $1.15, while nine-month GAAP EPS rose to $2.59 from $2.10. The company narrowed its 2025 ongoing EPS guidance to $3.17-$3.23, issued 2026 ongoing EPS guidance of $3.36-$3.46, and raised its 2026 dividend target to $2.14 per share, which matters to shareholders because it sets the company's earnings and dividend outlook while raising its capital spending plan.
Q3 2025 GAAP EPS $1.09 vs $1.15; ongoing EPS $1.12 vs $1.15; Q3 revenue $1,210 million vs $1,081 million
Nine months 2025 GAAP EPS $2.59 vs $2.10 (up 23.3%); ongoing EPS $2.62 vs $2.33 (up 12.4%)
2026 ongoing EPS guidance $3.36-$3.46 (6.6% midpoint growth over 2025); 2026 dividend target $2.14 per share vs $2.03
Four-year capital expenditure forecast raised 17% to $13.4 billion; contracted data center demand of 3 GW
Alarm.com reported third-quarter 2025 results on November 6, 2025, with total revenue up 6.6% to $256.4 million and SaaS and license revenue up 10.1% to $175.4 million. GAAP net income fell slightly to $35.1 million, and diluted earnings per share were $0.65, down from $0.67 a year earlier. The company raised its full-year 2025 SaaS and license revenue guidance to $685.2 million to $685.4 million.
Q3 2025 total revenue rose 6.6% to $256.4 million, versus $240.5 million in Q3 2024.
GAAP net income was $35.1 million, compared with $36.5 million; diluted EPS was $0.65, compared with $0.67.
Non-GAAP adjusted EBITDA rose 18.4% to $59.2 million, compared with $50.0 million.
Full-year 2025 SaaS and license revenue guidance is now $685.2 million to $685.4 million, up $4.1 million from the prior midpoint.
Topgolf Callaway Brands reported third-quarter 2025 net revenue of $934.0 million, down 7.8% from $1,012.9 million a year earlier, mainly because of the sale of Jack Wolfskin. Excluding Jack Wolfskin, ongoing business revenue rose 3.2%, and the company raised its full-year 2025 revenue and Adjusted EBITDA guidance, though it still posted a GAAP net loss of $14.7 million for the quarter. Shareholders get a higher outlook for the year, but reported revenue and profit measures declined.
Q3 GAAP net loss of $14.7 million, or $0.08 per diluted share, versus a net loss of $3.6 million a year earlier
Full-year 2025 consolidated Adjusted EBITDA guidance raised to $490 million to $510 million from $430 million to $490 million
Full-year 2025 consolidated net revenue guidance raised to $3.90 billion to $3.94 billion from $3.80 billion to $3.92 billion
Company cited $12 million in incremental tariffs in its core business in Q3 and about $40 million of estimated tariff impact for 2025
Astrana Health reported third-quarter 2025 revenue of $956.0 million, up 100%, after closing its Prospect Health acquisition on July 1, 2025. Net income attributable to the company fell to $0.4 million from $16.1 million a year earlier, and it updated full-year 2025 guidance to revenue of $3.10 billion to $3.18 billion and adjusted EBITDA of $200 million to $210 million, citing delayed full-risk contract transitions.
Third-quarter total revenue $956.0 million, up 100% from $478.7 million; diluted EPS $0.01 versus $0.33.
Third-quarter adjusted EBITDA $68.5 million, up 52% from $45.2 million, at the higher end of guidance.
Full-year 2025 guidance: total revenue $3.10 billion to $3.18 billion; adjusted EBITDA $200 million to $210 million.
Third-quarter other expenses included $13.0 million for a legal matter with a provider tied to CFC Health Plan and $12.7 million in transaction and integration costs.
Northern Oil and Gas reported third quarter 2025 results on November 6, 2025, showing a GAAP net loss of $129.1 million, or $1.33 per share, after a non-cash $318.7 million impairment charge. That compares with net income of $298.4 million a year earlier. Production rose 8% from the year-earlier quarter, oil and gas sales fell to $482.2 million from $513.5 million, and 2025 production guidance was raised.
GAAP net loss of $129.1 million ($1.33 per share) versus net income of $298.4 million in Q3 2024, driven by a non-cash $318.7 million impairment
Oil and gas sales of $482.2 million, down from $513.5 million; Adjusted EBITDA of $387.1 million, down 6% year over year
2025 annual production guidance raised to 132,500 to 134,000 Boe per day; capital expenditure guidance tightened to $950 million to $1,025 million
Revolving credit facility amended November 5, 2025, extending maturity to November 2030; $0.45 per share dividend declared in November 2025
Solventum reported third-quarter 2025 sales of $2.1 billion, up 0.7% (2.7% organic), while adjusted diluted EPS fell 8.5% to $1.50. The company raised its full-year adjusted EPS range to $5.98 to $6.08 from $5.88 to $6.03 and launched a multiyear Transform for the Future program, which it expects to generate about $500 million in annual cost savings, though GAAP diluted EPS of $7.22 includes a $1.5 billion gain on the Purification and Filtration sale.
Q3 net sales $2,096 million, up 0.7%; organic sales up 2.7%
Adjusted diluted EPS $1.50 versus $1.64 a year earlier, down 8.5%; GAAP diluted EPS $7.22
Full-year adjusted EPS outlook raised to $5.98 to $6.08; free cash flow guidance revised to $150 million to $250 million
Transform for the Future expected to yield about $500 million in annual savings with about $500 million in cumulative pretax costs
Fox Factory reported third-quarter fiscal 2025 results on November 6, 2025, with net sales up 4.8% to $376.4 million but a net loss of $0.6 million, compared with net income of $4.8 million a year earlier. The company said its Specialty Sports Group underperformed as customers reduced inventories, and it updated its fourth-quarter and full-year 2025 outlook, now expecting fourth-quarter adjusted earnings per diluted share of $0.05 to $0.25. The company also reduced debt by $17 million and extended its credit agreement through October 2030.
Q3 net sales rose 4.8% to $376.4 million, but net loss was $0.6 million, or $0.02 per diluted share, versus net income of $4.8 million, or $0.11, a year earlier
Q3 adjusted earnings per diluted share were $0.23, down from $0.35; adjusted EBITDA was $44.4 million, up 5.7%
Fourth-quarter net sales now expected at $340 million to $370 million
Fiscal 2025 net sales expected at $1.445 billion to $1.475 billion and adjusted EPS at $0.92 to $1.12
ICU Medical reported third quarter 2025 revenue of $537.0 million, down from $589.1 million a year earlier, after disposing of its IV Solutions business on May 1, 2025. Its GAAP net loss narrowed to $(3.4) million, or $(0.14) per diluted share, from $(33.0) million, and it raised its full-year 2025 adjusted EBITDA and adjusted EPS guidance. Shareholders get higher profit measures alongside lower sales.
Q3 2025 revenue was $537.0 million versus $589.1 million in Q3 2024; Vital Care revenue fell to $78.0 million from $164.5 million.
Q3 2025 GAAP net loss was $(3.4) million, or $(0.14) per diluted share, compared with $(33.0) million, or $(1.35), a year earlier.
Q3 2025 adjusted diluted EPS was $2.03 versus $1.59; adjusted EBITDA was $105.9 million versus $94.8 million.
Fiscal 2025 adjusted EPS guidance was raised to $7.35–$7.65 from $6.85–$7.15, and adjusted EBITDA guidance to $395 million–$405 million from $380 million–$390 million.
StepStone reported results for the quarter ended September 30, 2025, with total revenues up 67% to $454.2 million and management and advisory fees up 17% to $215.5 million. A GAAP net loss of $575.5 million, or $4.66 per share, compared with net income of $53.1 million a year earlier, reflecting equity-based compensation of $884.5 million, while adjusted net income rose 25% to $66.7 million.
Total revenues were $454.2 million versus $271.7 million a year earlier; total performance fees were $238.7 million.
GAAP net loss was $575.5 million, or $4.66 per share, versus net income of $53.1 million, or $0.26 per share; equity-based compensation was $884.5 million versus $37.3 million.
Adjusted net income rose to $66.7 million, or $0.54 per share, from $53.6 million, or $0.45 per share; fee-related earnings were $78.6 million, up 9%.
The board declared a quarterly dividend of $0.28 per share, up from $0.24, payable December 15, 2025, to holders of record on November 28, 2025.
Gen Digital reported record second-quarter fiscal 2026 revenue of $1.22 billion, up 25%, and raised its full-year fiscal 2026 non-GAAP revenue and EPS guidance. GAAP diluted EPS fell 17% to $0.21, and GAAP net income declined, partly due to a $69 million change in fair value and impairment of non-marketable equity investments.
Q2 revenue of $1,220 million, up 25%; non-GAAP diluted EPS of $0.62, up 15%
GAAP diluted EPS of $0.21, down from $0.26 a year earlier; GAAP net income of $134 million vs. $161 million
FY26 revenue guidance raised to $4.92 billion-$4.97 billion from $4.8 billion-$4.9 billion
Quarterly dividend of $0.125 per share payable December 10, 2025, to holders of record on November 17, 2025
DiamondRock Hospitality reported third quarter 2025 results, with net income attributable to common stockholders down 16.3% year over year to $20.1 million while Adjusted EBITDA rose 2.7% to $79.1 million. The company raised the midpoint of its full-year 2025 Adjusted EBITDA and Adjusted FFO guidance, and it repaid its remaining secured mortgage debt, leaving its portfolio unencumbered.
Net income attributable to common stockholders was $20.1 million, or $0.10 per diluted share, down from $24.0 million in the third quarter of 2024.
Adjusted EBITDA was $79.1 million, up 2.7%; Adjusted FFO per diluted share was $0.29, up 7.4%.
2025 Adjusted EBITDA guidance is $287 million to $295 million, versus $275 million to $295 million previously; Adjusted FFO per share guidance is $1.02 to $1.06, versus $0.96 to $1.06.
Year to date through November 6, 2025, the company repurchased 4.8 million shares for about $37.1 million, with $137.0 million remaining under its $200.0 million program.
Whirlpool announced a broad senior leadership reshuffle, including a new Executive Vice President and Chief Financial Officer, Roxanne Warner, effective January 1, 2026. Chief Financial and Administrative Officer James Peters and North America President Alessandro Perucchetti will step down from their roles effective December 31, 2025. Leadership changes at this level and the filing's new pay terms for several executives are significant for shareholders to track.
Roxanne Warner, currently Executive Vice President Finance and Controller, becomes Executive Vice President and Chief Financial Officer effective January 1, 2026
James Peters steps down from his current role after 9 years effective December 31, 2025, and will continue as a non-executive executive vice president leading enterprise transformation
Juan Carlos Puente and Ludovic Beaufils are named Executive Presidents effective January 1, 2026, with base salaries of $780,000 each
Alessandro Perucchetti steps down as President, Whirlpool North America, effective December 31, 2025, and will remain in a full-time advisory role
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