619 material Form 8-K filings that 507 companies we cover made with the SEC in December 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).
On December 24, 2025, Dentsply Sirona obtained lender consent and signed amendments to its JPMorgan-agented revolving credit facility and three note purchase agreements. The changes replace the prior leverage covenants with new Total Leverage and Senior Leverage Ratio limits, cap efficiency-initiative EBITDA addbacks at $75 million through December 31, 2026, and add a new covenant restricting Restricted Payments, subject to exceptions.
Amendments dated December 24, 2025 cover the revolving credit facility with JPMorgan Chase Bank, N.A. as administrative agent and three note purchase agreements.
Total Leverage Ratio cap is 4.25 to 1.00 for quarters ending December 31, 2025 through June 30, 2026, stepping down to 3.50 to 1.00 from September 30, 2027.
Senior Leverage Ratio cap is 3.25 to 1.00 through June 30, 2026, stepping down to 2.50 to 1.00 from September 30, 2027.
EBITDA addbacks for efficiency initiatives are capped at $75 million in the aggregate for quarters ending December 31, 2025 through December 31, 2026.
Citigroup's board approved on December 29, 2025 a plan to sell AO Citibank, which holds the bank's remaining Russian operations, and will report that business as held for sale from the fourth quarter of 2025. The sale is expected to sign and close in the first half of 2026, and Citi expects a pre-tax loss on sale of approximately $1.2 billion ($1.1 billion after-tax) in the fourth quarter, mostly from currency translation losses. Citi says the cumulative translation impact would be capital neutral to its Common Equity Tier 1 Capital, but the loss remains subject to change, including from foreign exchange movements.
Board approved the plan on December 29, 2025 to sell AO Citibank, which conducts Citi's remaining operations in Russia.
Expected pre-tax loss on sale of approximately $1.2 billion ($1.1 billion after-tax) in Q4 2025, recorded as a reduction of Other Revenue.
The loss includes approximately $1.6 billion of currency translation adjustment losses, partly offset by about $0.2 billion from derecognition of a fully reserved investment and about $0.2 billion of expected sale proceeds.
Sale expected to sign and close in the first half of 2026; amounts are as of September 30, 2025.
PTC Therapeutics sold its retained interest in its Evrysdi royalty stream to Royalty Pharma Investments 2019 ICAV on December 29, 2025, for $240.0 million in upfront cash. The company also may receive three additional $20.0 million payments, each tied to royalty payments exceeding set thresholds in 2027, 2028 and 2029, and it no longer owns any part of the royalty.
Upfront cash consideration of $240.0 million paid to PTC Therapeutics on December 29, 2025
Three potential $20.0 million payments, conditioned on Assigned Royalty Payments above $347.0 million (2027), $363.0 million (2028) and $379.0 million (2029)
Retained interest sold was 9.5111% of the Royalty before the 2020 Assigned Royalty Cap is met and 16.6666% after; PTC now owns 0% of the Royalty
Dycom Industries closed its acquisition of Power Solutions, an electrical contractor serving data centers, on December 23, 2025, paying about $1.6 billion in cash and issuing 1,011,069 shares. The company also amended its credit agreement, raising its term loan and revolver commitments and adding a $600.0 million bridge facility, which increases its debt load. The company says the deal is expected to be accretive to Adjusted EBITDA margin and Adjusted Diluted EPS.
Cash paid at closing of about $1.6 billion, plus 1,011,069 shares issued to the seller
Term Loan A increased to $1,540 million from $440 million; Revolving Credit Facility increased to $800.0 million from $650.0 million
New $600.0 million 364-day senior secured bridge loan facility; maturities extended to December 23, 2030
Cash consideration remains subject to post-closing adjustments; financial statements and pro forma information to be filed by amendment
WillScot's board approved a four-year Network Optimization Plan on December 18, 2025, to exit about 115 branch and drop lot locations and abandon rental fleet units with a $311 million net book value. The company expects a non-cash charge of approximately $303 million in the fourth quarter of 2025, with net cash costs of about $20 million in 2026, and says the plan should be accretive to profitability in 2027 and beyond.
Approximately $303 million of non-cash accelerated depreciation is expected in the fourth quarter of 2025, after about $8 million of scrap proceeds.
Management expects to reduce annual real estate cost increases by $25 million to $30 million over the next four years.
Future unit disposal costs are estimated at $40 million to $50 million, recorded through 2029, with net cash costs of about $20 million expected in 2026.
The plan covers exiting about 725 acres of leased real estate, or roughly 25% of leased acreage, and abandoning about 51,000 rental units.
Paychex reported fiscal second-quarter results for the three months ended November 30, 2025, with total revenue up 18% to $1.6 billion, and acquired Paycor contributing approximately 17% to Management Solutions revenue growth. GAAP diluted earnings per share fell 4% to $1.10 after $77.0 million of Paycor acquisition-related costs, while adjusted diluted EPS rose 11% to $1.26. The company updated its fiscal 2026 outlook so that adjusted diluted EPS is now expected to grow 10% to 11%, but the GAAP earnings decline and higher acquisition costs are the main offsets for shareholders.
Total revenue was $1.6 billion ($1,557.6 million) for the quarter, up 18% from $1,316.9 million a year earlier.
Diluted EPS was $1.10, down 4%; adjusted diluted EPS was $1.26, up 11%, excluding $77.0 million of acquisition-related costs.
Operating margin was 36.7% versus 40.9% a year earlier; adjusted operating margin was 41.7%.
Fiscal 2026 adjusted diluted EPS growth is now anticipated at 10% to 11%; other guidance is unchanged.
Lamb Weston reported fiscal second-quarter 2026 net sales of $1.6 billion, up 1% from a year earlier, and net income of $62.1 million, compared with a net loss of $36.1 million a year ago. Adjusted diluted EPS fell 5% to $0.69 because adjusted gross profit declined on unfavorable price/mix, and the company reaffirmed its fiscal 2026 guidance and raised its quarterly dividend 3% to $0.38 per share.
Net sales were $1,618.1 million, up 1%; at constant currency they were essentially flat, with volume up 8% and price/mix down 8%.
Diluted EPS was $0.44 versus a loss of $0.25 a year ago; adjusted diluted EPS was $0.69, down 5%.
Fiscal 2026 guidance was reaffirmed: net sales of $6.35 billion to $6.55 billion and adjusted EBITDA of $1.00 billion to $1.20 billion.
The board authorized a 3% dividend increase to $0.38 per share, payable February 27, 2026.
Conagra reported second quarter fiscal 2026 net sales down 6.8% to $3.0 billion and a GAAP diluted loss of $1.39 per share, driven by $968 million in non-cash goodwill and brand impairment charges. Adjusted EPS was $0.45, and the company reaffirmed its fiscal 2026 adjusted EPS guidance of $1.70 to $1.85, but lowered its adjusted equity earnings outlook to about $170 million from about $200 million.
Net sales were $3.0 billion, down 6.8%; organic net sales fell 3.0%
GAAP net loss attributable to Conagra was $664 million; goodwill impairment charges were $771.3 million and other intangible impairment charges were $197.0 million
Adjusted EPS was $0.45; prior-year second quarter GAAP diluted EPS was $0.59
Fiscal 2026 adjusted EPS guidance of $1.70 to $1.85 was reaffirmed; adjusted equity earnings expectation was cut to about $170 million from about $200 million
On December 18, 2025, a Coty subsidiary agreed to sell its remaining 25.8% stake in Wella to KKR-affiliated buyers for $750 million in cash plus a consideration loan note, and the right to 45% of proceeds from any further sale or IPO after KKR's preferred return. Coty expects a preliminary non-cash impairment charge of approximately $200 million in the quarter ending December 31, 2025, and says it plans to use most of the upfront cash to pay down debt.
Buyer is Tides Holdco Limited, with KKR-affiliated entities; upfront consideration is $750 million in cash plus a consideration loan note.
Coty will hold 45% of the ordinary shares of the buyer and has consent rights and a non-voting board observer seat.
Coty expects a material non-cash impairment charge of approximately $200 million in the quarter ended December 31, 2025; the amount is preliminary.
Coty says the Wella proceeds and free cash flow are expected to reduce financial net leverage to about 3x by the end of calendar 2025.
On December 16, 2025, Lockheed Martin converted group annuity contracts so that insurance companies took on about $900 million of gross pension obligations for roughly 9,000 U.S. retirees and beneficiaries. The company expects a non-cash, non-operating pretax settlement charge of approximately $480 million in the fourth quarter of 2025, which was not included in its October 21, 2025 outlook, so shareholders may see a large one-time charge against 2025 results.
Gross pension obligations of approximately $900 million transferred to insurance companies on December 16, 2025, with no additional costs or funding contributions required by the company
Expected non-cash, non-operating pretax settlement charge of approximately $480 million in Q4 2025
Charge was not included in the prior 2025 financial outlook released October 21, 2025
No change to the nature, amount, or timing of benefit payments for about 9,000 retirees and beneficiaries
NIKE reported fiscal second-quarter results for the period ended November 30, 2025, with revenues up 1 percent to $12.4 billion, flat on a currency-neutral basis. Net income fell 32 percent to $0.8 billion, and gross margin declined 300 basis points to 40.6 percent, which the company attributed primarily to higher tariffs in North America. The filing contains no revenue or earnings guidance for future periods.
Revenues were $12.4 billion, up 1 percent reported and flat currency-neutral; NIKE Direct fell 8 percent to $4.6 billion, while Wholesale rose 8 percent to $7.5 billion
Diluted earnings per share were $0.53 versus $0.78 a year earlier, a 32 percent decrease; net income was $0.8 billion, down 32 percent
Gross margin decreased 300 basis points to 40.6 percent, primarily due to higher tariffs in North America
Greater China revenues fell 17 percent to $1.4 billion; dividends returned about $598 million to shareholders, up 7 percent
Scholastic completed sale-leaseback transactions on December 17, 2025, selling its New York City headquarters at 555-557 Broadway and its Jefferson City, Missouri distribution facility for $481 million in total proceeds. The company estimates net proceeds of $401 million after taxes, fees and transaction expenses, which it plans to use under its capital allocation priorities, including share repurchases. Scholastic will continue to lease both properties under long-term agreements, so it takes on rent obligations of $333,059,306.47 in total fixed rent for the SoHo lease alone over its initial term.
Closed December 17, 2025: sold 555-557 Broadway (NYC headquarters) to a subsidiary of Empire State Realty Trust and the Jefferson City facility to funds managed by affiliates of Fortress Investment Group
Total proceeds of $481 million; estimated net proceeds of $401 million after taxes, fees and transaction expenses
SoHo lease: 15-year initial term with two 10-year renewal options; total fixed rent of $333,059,306.47 over the initial term, plus a proportionate share of operating expense, tax and insurance increases
Jefferson City lease: 20-year initial term; initial annual base rent of approximately $6,886,000, triple net, with rent adjusted annually by CPI subject to a 4% cap and 1% collar
Accenture reported first-quarter fiscal 2026 revenue of $18.7 billion, up 6% in U.S. dollars and 5% in local currency, at the top of its guided range. GAAP diluted EPS fell 1% to $3.54 after $308 million in business optimization costs, while adjusted EPS rose 10% to $3.94; the company lowered its GAAP EPS and GAAP operating margin outlook for fiscal 2026 but kept its adjusted outlook.
Revenue of $18.74 billion, up 6% in U.S. dollars and 5% in local currency; new bookings of $20.94 billion, up 12%
GAAP operating margin of 15.3%, down from 16.7%; adjusted operating margin of 17.0%
Fiscal 2026 GAAP diluted EPS outlook now $13.12 to $13.50, down from $13.19 to $13.57; adjusted EPS outlook of $13.52 to $13.90 unchanged
Quarterly dividend of $1.63 per share declared for January 13, 2026 record date, a 10% increase
Natural Alternatives International said it missed two covenants of its Wells Fargo credit agreement for the fiscal first quarter ended September 30, 2025. On December 17, 2025 the company and Wells Fargo signed a Waiver and Release Agreement under which the bank waived all defaults and confirmed the credit agreement remains in full force. The filing does not disclose dollar amounts, but the covenant breach matters to shareholders because it shows the company was out of compliance with its loan terms until the waiver.
Missed maximum net loss and fixed charge coverage ratio covenants for fiscal Q1 ended September 30, 2025
Waiver and Release Agreement with Wells Fargo dated December 17, 2025, effective as of December 12, 2025
Wells Fargo waived all defaults and confirmed the credit agreement remains in full force and effect
Progressive reported November 2025 results in a news release furnished under Regulation FD. Net income fell 5% year over year to $958 million, or $1.63 per share, while net premiums written rose 11% to $6,193 million and the combined ratio worsened to 87.1 from 85.6. Year-to-date net income through November was $10,161 million, up from $7,538 million a year earlier.
November net income was $958 million, down 5% from $1,006 million in November 2024.
November net premiums written rose 11% to $6,193 million; net premiums earned rose 14% to $6,894 million.
The November combined ratio was 87.1, compared with 85.6 a year earlier, a 1.5-point increase.
Year-to-date net income was $10,161 million, compared with $7,538 million for the same period in 2024.
Toro reported fiscal 2025 results for the year ended October 31, 2025. Net sales fell 2% to $4.51 billion and reported diluted EPS fell 21% to $3.17, while adjusted diluted EPS rose 1% to $4.20, which the company said beat its expectations. The company guided to fiscal 2026 adjusted diluted EPS of $4.35 to $4.50 and net sales growth of 2% to 5%.
Full-year net sales were $4.51 billion, down from $4.58 billion; reported net earnings were $316.1 million, down from $418.9 million, including an $81.1 million non-cash impairment charge.
Full-year adjusted diluted EPS was $4.20, up from $4.17; fourth-quarter reported diluted EPS was $0.74 versus $0.87 a year earlier.
Free cash flow was $578 million, and the company returned $441 million to shareholders through dividends and common stock repurchases.
Fiscal 2026 guidance includes adjusted diluted EPS of $4.35 to $4.50 and net sales growth of 2% to 5%, including about 2% from the Tornado acquisition.
Worthington Enterprises reported fiscal 2026 second-quarter results, with net sales up 19.5% to $327.5 million, driven mainly by Building Products and the Elgen acquisition. GAAP net earnings fell 3% to $27.0 million, while adjusted EPS rose to $0.65 from $0.60. The company also agreed to acquire LSI Group for about $205 million, expected to close in January 2026, and declared a $0.19 quarterly dividend.
Net sales were $327.5 million, up from $274.0 million; Building Products sales rose 31.9% to $207.5 million.
GAAP net earnings were $27.0 million, down from $28.0 million; diluted EPS was $0.55 versus $0.56.
Adjusted diluted EPS was $0.65 versus $0.60 a year earlier, excluding restructuring, an SES-related loss and an unrealized securities loss.
Agreed to acquire LSI Group for about $205 million, funded with cash and revolver borrowings; the board also appointed Charles M. Chiappone as a director effective immediately.
Ford said it will record about $19.5 billion in pre-tax special items tied to scaling back its electric vehicle plans, including an about $8.5 billion Model e asset write-down and about $3 billion related to its BlueOval SK battery joint venture. The company expects about $5.5 billion in cash effects, mostly paid in 2026, and raised its 2025 adjusted EBIT guidance to about $7 billion. The large charges weigh on shareholders even as the company lifts its profit outlook.
About $19.5 billion in pre-tax special items, mostly recognized in the fourth quarter of 2025, with about $5.5 billion in cash effects, mostly paid in 2026
About $8.5 billion Model e asset write-down, including ending production of the current F-150 Lightning EV
About $3 billion pre-tax charge tied to the BOSK joint venture disposition agreement signed December 9, 2025, with closing expected in the first half of 2026
2025 adjusted EBIT guidance raised to about $7 billion; adjusted free cash flow guidance of $2 billion to $3 billion reaffirmed, trending toward the high end
Zebra Technologies said on December 9, 2025 that it will dispose of or exit its robotics automation solutions business to realign resources toward its strategic priorities. The company expects up to $80 million of one-time pre-tax charges, including about $60 million of non-cash asset impairment charges, in the fourth quarter of fiscal 2025. Shareholders should note that the company also expects at least $20 million of net annualized pre-tax cost savings, but actual results may differ materially from these estimates.
Decision made December 9, 2025 to dispose of or exit the robotics automation solutions business
Up to $80 million of one-time pre-tax charges expected
About $60 million of those charges are non-cash asset impairments, expected in Q4 fiscal 2025
Expected net annualized pre-tax cost savings of at least $20 million
Westlake approved plans to shut its PVC plant in Aberdeen, Mississippi, a VCM plant and one chlor-alkali unit in Lake Charles, Louisiana, and its styrene plant in Lake Charles, with cessations expected in December 2025 and about 295 jobs affected. The company expects total pre-tax costs of about $415 million, mostly noncash charges, with a substantial portion recognized in the fourth quarter of 2025, which will weigh on reported results even as the company projects lower annual costs and higher cash flow from 2026.
Cessation of operations expected in December 2025; workforce reduction of about 295 employees.
Total pre-tax costs of about $415 million: about $357 million noncash, about $25 million severance, and about $33 million plant shutdown costs.
Investor slides expect an annual EBITDA improvement of about $100 million and free cash flow savings of about $175 million in 2026.
Company says cash outflows will continue over several years and may disclose additional charges later.
National Beverage reported second-quarter results for the period ended November 1, 2025. Net sales fell to $288.3 million from $291.2 million a year earlier, while net income rose to $46.4 million from $45.6 million, and basic earnings per share were $0.50 versus $0.49. The company attributed the sales decline to inflation, commodity costs, tariffs and the recent federal government shutdown, and said price/mix improvements lifted operating profit and net income.
Q2 net sales were $288.3 million, down from $291.2 million in the prior-year period
Q2 net income was $46.4 million, up from $45.6 million; operating income increased to $58 million
Basic EPS was $0.50 versus $0.49; diluted EPS was $0.49 in both periods
Trailing twelve-month net sales were $1.2 billion and EPS was $1.99; the company repurchased 20,000 shares in the quarter
On December 12, 2025, FMC's board approved Project Foundation, which includes exiting certain high-cost active ingredient and formulation plants and expects $175 million or more in annual run-rate savings by the end of 2027. The company expects pre-tax restructuring charges of approximately $560 to $635 million over the program's life, mostly non-cash write-offs, and separately warned of a significant non-cash goodwill and intangible impairment for 2025 unless its stock price recovers.
Project Foundation approved December 12, 2025, targeting $175 million or more in annual run-rate savings by the end of 2027.
Expected pre-tax restructuring charges of approximately $560 to $635 million, including $420 to $440 million in non-cash asset write-offs and/or accelerated depreciation.
Expected cash expenditures of $140 to $195 million, including $50 to $80 million in severance.
FMC expects a significant non-cash impairment of goodwill and intangibles in the 2025 financial statements absent a stock price recovery; the company says it will not affect cash flows.
Quanex reported fourth-quarter and fiscal 2025 results for the period ended October 31, 2025. Fourth-quarter net sales were $489.8 million, down 0.5% from a year earlier, while net income swung to $19.6 million from a loss of $13.9 million, but the full year showed a $250.8 million net loss driven by a $302.3 million goodwill impairment. The company declined to issue formal 2026 guidance, saying fiscal 2026 could be flat with fiscal 2025 on revenue and EBITDA and that it will revisit guidance with its first-quarter results.
Q4 net sales $489.8 million vs $492.2 million a year earlier; Q4 net income $19.6 million, or $0.43 diluted EPS, vs a $13.9 million loss
Full-year net loss of $250.8 million, including a $302.3 million goodwill impairment charge; full-year net sales rose 43.8% to $1.84 billion, mainly from the Tyman acquisition
Q4 adjusted diluted EPS $0.83 vs $0.82; full-year free cash flow $102.3 million and $75 million of bank debt repaid in 2025
No official 2026 guidance; management says fiscal 2026 could be flat with fiscal 2025 on revenue and EBITDA, with the first half likely more challenged
lululemon said CEO Calvin McDonald will step down effective January 31, 2026, with CFO Meghan Frank and André Maestrini serving as interim co-CEOs while the board searches for a permanent CEO. In the same day's filing, third-quarter net revenue rose 7% to $2.6 billion, but income from operations fell 11% and diluted EPS fell to $2.59 from $2.87. The board also approved a $1.0 billion increase to the stock repurchase program.
Calvin McDonald steps down as CEO and director effective January 31, 2026, and serves as senior advisor through March 31, 2026
Meghan Frank and André Maestrini named interim co-CEOs effective January 31, 2026; Marti Morfitt appointed executive chair effective immediately
Third-quarter net revenue rose 7% to $2.6 billion; diluted EPS was $2.59 versus $2.87 a year earlier
Board approved a $1.0 billion repurchase increase on December 3, 2025; about $1.6 billion remained authorized as of December 11, 2025
Ciena reported fiscal fourth quarter 2025 revenue of $1.35 billion, up 20% from a year earlier, and adjusted diluted EPS of $0.91 versus $0.54. GAAP diluted EPS fell to $0.13 from $0.25, reflecting $106.9 million in significant asset impairments and restructuring costs in the quarter. The company guided fiscal 2026 revenue to $5.7 billion to $6.1 billion, and fiscal first quarter 2026 revenue to $1.35 billion to $1.43 billion.
Q4 fiscal 2025 revenue was $1.35 billion, compared with $1.12 billion a year earlier.
GAAP diluted EPS was $0.13 versus $0.25; adjusted (non-GAAP) diluted EPS was $0.91 versus $0.54.
Significant asset impairments and restructuring costs were $106.9 million in the quarter, versus $2.6 million a year earlier.
Fiscal 2026 revenue guidance is $5.7 billion to $6.1 billion; fiscal Q1 2026 revenue guidance is $1.35 billion to $1.43 billion.
Synopsys reported fourth-quarter fiscal 2025 revenue of $2.255 billion, up from $1.636 billion a year earlier, and full-year revenue of $7.054 billion, up about 15%. Non-GAAP earnings per diluted share fell to $2.90 in the quarter from $3.40 and to $12.91 for the year from $13.20, while GAAP EPS rose in the quarter to $2.39. The company expects fiscal 2026 revenue of $9.560 billion to $9.660 billion and non-GAAP EPS of $14.32 to $14.40, which includes expected Ansys revenue of $2.9 billion.
Q4 revenue was $2.255 billion versus $1.636 billion a year earlier; Ansys contributed $667.7 million
Q4 non-GAAP EPS was $2.90 versus $3.40; GAAP EPS was $2.39 versus $1.79
Fiscal 2026 targets: revenue $9.560 billion to $9.660 billion; non-GAAP EPS $14.32 to $14.40
Final fiscal 2025 financial statements will be included in the Form 10-K due on or before December 30, 2025
Vail Resorts reported a first-quarter fiscal 2026 net loss attributable to the company of $186.8 million, wider than the $173.3 million loss a year earlier, even as resort net revenue rose 4% to $270.9 million. Resort Reported EBITDA was flat at a loss of $139.7 million, and the company reaffirmed its full-year fiscal 2026 guidance while citing a slow start to the western North American ski season. Shareholders keep the $2.22 quarterly dividend, and the company repurchased about $25 million of shares in November.
Net loss attributable to Vail Resorts was $186.8 million, compared with $173.3 million a year earlier.
Resort net revenue rose $10.7 million, or 4%, to $270.9 million, mainly on improved Australian visitation.
Fiscal 2026 guidance reaffirmed: net income attributable of $201 million to $276 million and Resort Reported EBITDA of $842 million to $898 million.
Quarterly dividend of $2.22 per share payable January 12, 2026; about 0.2 million shares repurchased in November for $25 million.
Photronics reported fiscal fourth-quarter 2025 revenue of $215.8 million, down 3.1% from a year earlier but up 2.6% from the prior quarter. GAAP net income attributable to shareholders rose to $61.8 million, or $1.07 per diluted share, helped by a $16.8 million deferred tax valuation allowance reduction, while non-GAAP EPS was $0.60 versus $0.59. For fiscal 2025, revenue fell 2.0% to $849.3 million and non-GAAP EPS was $2.01 versus $2.05, and first-quarter fiscal 2026 guidance calls for revenue of $217 million to $225 million.
Q4 fiscal 2025 revenue was $215.8 million, down 3.1% year over year and up 2.6% sequentially
Q4 GAAP diluted EPS was $1.07 versus $0.54 a year earlier; non-GAAP diluted EPS was $0.60 versus $0.59
Full-year fiscal 2025 revenue was $849.3 million, down 2.0%; non-GAAP diluted EPS was $2.01 versus $2.05
Q1 fiscal 2026 guidance: revenue of $217 million to $225 million and non-GAAP diluted EPS of $0.51 to $0.59
AeroVironment reported fiscal second quarter 2026 results for the period ended November 1, 2025, with revenue up 151% to $472.5 million, helped by the BlueHalo acquisition. The company swung to a GAAP net loss of $17.1 million, or $0.34 per diluted share, largely due to $48.2 million of intangible amortization and other purchase accounting expenses, and it issued fiscal 2026 full-year guidance that includes a net loss forecast of $38 million to $30 million.
Q2 revenue was $472.5 million, up from $188.5 million a year earlier; BlueHalo contributed $245.1 million.
Net loss was $17.1 million, or $0.34 per diluted share, versus net income of $7.5 million, or $0.27 per share, a year earlier.
Non-GAAP adjusted EBITDA was $45.0 million, up from $25.9 million, while non-GAAP EPS was $0.44 versus $0.47.
Fiscal 2026 guidance: revenue of $1.95 billion to $2.0 billion, adjusted EBITDA of $300 million to $320 million, and non-GAAP EPS of $3.40 to $3.55.
GameStop reported third quarter results for the period ended November 1, 2025, with net sales down from the prior-year quarter but operating and net income higher. Net income rose to $77.1 million from $17.4 million, while net sales fell to $821.0 million from $860.3 million. Cash, cash equivalents and marketable securities reached $8.8 billion, and the filing does not include updated guidance.
Net sales were $821.0 million, compared with $860.3 million a year earlier.
Operating income was $41.3 million, compared with an operating loss of $33.4 million a year earlier.
Net income was $77.1 million, compared with $17.4 million; adjusted net income was $139.3 million, compared with $26.2 million.
Cash, cash equivalents and marketable securities were $8.8 billion at quarter end, compared with $4.6 billion a year earlier.
Academy Sports and Outdoors reported third-quarter fiscal 2025 net sales of $1.38 billion, up 3.0%, with comparable sales down 0.9% and diluted GAAP earnings per share of $1.05, up 14.1%. The company narrowed its full-year guidance: the sales range is now -2.0% to flat (previously -3.0% to +1.0%), and GAAP EPS is now $5.35 to $5.85 (previously $5.30 to $6.00), so the top of both ranges came down while the bottom of the sales and gross margin ranges moved up.
Q3 net sales $1.38 billion, up 3.0%; comparable sales down 0.9%
Q3 diluted GAAP EPS $1.05 vs. $0.92 a year earlier; year-to-date diluted EPS $3.57, down 7.5%
Fiscal 2025 sales guidance narrowed to -2.0% to flat; GAAP EPS guidance $5.35 to $5.85
Gross margin guidance low end raised to 34.3% from 34.0%; quarterly dividend of $0.13 declared December 4, 2025
Elanco's board authorized a workforce restructuring plan on December 5, 2025, which is expected to eliminate about 300 positions and cost about $175 million in pretax charges, mostly in 2025. The company reaffirmed its fourth-quarter and full-year 2025 revenue and adjusted earnings guidance, but said its reported net loss and loss per share will reflect the charges, and it outlined a three-year financial outlook at its December 9 Investor Day.
Plan covers about 300 eliminated positions and about 300 roles shifted to growth areas or lower-cost locations.
Expected pretax charges total about $175 million: about $130 million cash-based, mostly paid over the next 2 years, and about $45 million non-cash asset impairments.
Impairments relate to closing the Kansas City, Missouri implant facility and exiting part of the Monheim, Germany facility.
Expected savings of about $25 million in 2026 and about $60 million in 2027; full-year 2025 revenue and adjusted earnings guidance reaffirmed.
G-III reported third-quarter fiscal 2026 results for the period ended October 31, 2025, with net sales down 9% to $988.6 million and GAAP diluted EPS of $1.84, versus $2.55 a year earlier. The company raised its fiscal 2026 GAAP diluted EPS guidance to $2.72 to $2.82 from $2.53 to $2.73 and declared its first quarterly dividend of $0.10 per share. Shareholders get a higher profit outlook and a new cash dividend, but sales and profit both declined from the prior-year quarter.
Q3 GAAP diluted EPS was $1.84 versus $2.55 a year earlier; non-GAAP diluted EPS was $1.90 versus $2.59
Fiscal 2026 GAAP diluted EPS guidance raised to $2.72 to $2.82 from $2.53 to $2.73; net sales guidance cut to about $2.98 billion from $3.02 billion
Gross tariff impact now estimated at about $135 million, with $65 million remaining unmitigated and reflected in guidance
Initial quarterly dividend of $0.10 per share; record date December 15, 2025; payment date December 29, 2025
AutoZone reported first-quarter fiscal 2026 results for the 12 weeks ended November 22, 2025, with net sales up 8.2% to $4.6 billion and total company same store sales up 4.7% in constant currency. Profit declined: operating profit fell 6.8% to $784.2 million and diluted EPS was $31.04 versus $32.52, as gross margin dropped 203 basis points largely due to a non-cash LIFO impact, and the filing gives no updated guidance.
Net sales were $4.6 billion, up 8.2% from the prior year; domestic same store sales rose 4.8% and total company same store sales rose 4.7% in constant currency.
Gross profit margin was 51.0%, down 203 basis points, driven by a 212 basis point non-cash LIFO impact; operating expenses were 34.0% of sales versus 33.3% last year.
Net income was $530.8 million versus $564.9 million, and the company repurchased $431.1 million of stock in the quarter, with $1.7 billion remaining under its authorization.
The company opened 53 net new stores globally in the quarter, bringing its total store count to 7,710.
FMC amended its credit agreement with Citibank as administrative agent, extending covenant relief on leverage and interest coverage ratios to the earlier of December 31, 2028 or a termination notice from the company. The amendment adds limits on subsidiary debt, dividend increases and intellectual property value, and requires a lien over substantially all assets if two rating agencies rate the company's public debt below the specified thresholds.
Amendment No. 5 dated December 8, 2025 extends covenant relief to the earlier of December 31, 2028 or a company termination notice
Subsidiary indebtedness is capped at $350 million outstanding principal during covenant relief, subject to exceptions
Regular quarterly dividend increases above $0.08 per share are limited, and other dividends are restricted unless leverage ratio is at or below 3.75 to 1
Company must keep qualifying intellectual property valued at no less than $1 billion; lien over substantially all assets applies if two agencies rate public debt below BB+ (S&P, Fitch) or Ba1 (Moody's)
Toll Brothers reported fourth-quarter results for the period ended October 31, 2025, with home sales revenue of $3.41 billion, up from $3.26 billion a year earlier. Net income and diluted earnings per share fell from a year earlier, and the company said its $4.58 EPS was modestly below its guidance because the Apartment Living sale was delayed. Net signed contracts and backlog both declined, and the company issued FY 2026 delivery guidance of 10,300 to 10,700 units.
Fourth-quarter net income was $446.7 million, or $4.58 per diluted share, versus $475.4 million, or $4.63, a year earlier.
Net signed contract value was $2.53 billion versus $2.66 billion; backlog value was $5.5 billion versus $6.5 billion.
FY 2026 guidance calls for 10,300 to 10,700 deliveries and an adjusted home sales gross margin of 26.00%.
The $380 million Apartment Living sale to Kennedy Wilson is now expected to close in the first quarter of FY 2026.
ITT agreed on December 4, 2025 to acquire SPX FLOW from Lone Star funds for an aggregate $4.775 billion, consisting of $4.075 billion in cash and 3,839,824 shares of ITT common stock, subject to a working capital adjustment. ITT also secured $4.075 billion in debt commitments from U.S. Bank to help fund the cash portion, and the company expects the deal to close by the end of the first quarter of 2026. Shareholders face both the cash and debt cost and the share issuance, with the company citing an $80 million cost synergy target by the end of year three.
Cash consideration of $4.075 billion plus 3,839,824 ITT shares; the purchase price is subject to a net working capital adjustment
Debt commitments from U.S. Bank: $2.875 billion term loan facility and $1.200 billion bridge loan facility
Expected close by the end of Q1 2026; the purchase agreement can be terminated if closing has not occurred by September 4, 2026
Board appointed Nazzic S. Keene as non-executive Chair, effective upon her election at the 2026 Annual Meeting; Timothy H. Powers will not stand for reelection
CooperCompanies reported fiscal fourth-quarter revenue of $1,065.2 million, up 5%, and non-GAAP diluted EPS of $1.15, up 11%, while GAAP diluted EPS fell 27% to $0.43 after reorganization-related charges of about $89 million. The company also initiated fiscal 2026 guidance of non-GAAP diluted EPS of $4.45 to $4.60, and Chairman Robert S. Weiss said he will step down as Chairman effective January 2, 2026, with director Colleen E. Jay succeeding him.
Q4 revenue $1,065.2 million, up 5%; GAAP diluted EPS $0.43, down 27%; non-GAAP diluted EPS $1.15, up 11%
Fiscal 2026 guidance: total revenue $4,299 to $4,338 million; non-GAAP diluted EPS $4.45 to $4.60; free cash flow $575 to $625 million
Reorganization activity in Q4 resulted in about $89 million in cash and non-cash charges; company expects about $50 million in annual pre-tax savings beginning fiscal 2026
Robert S. Weiss resigns as Chairman effective January 2, 2026, remains a director; Colleen E. Jay appointed Chairman
Argan reported results for the quarter ended October 31, 2025, its third quarter of fiscal 2026. Revenue fell $5.9 million, or 2.3%, from the prior-year quarter, which the company attributed to project timing and mix, while net income rose to $30.7 million, or $2.17 per diluted share, from $28.0 million, or $2.00 per share. Project backlog reached $3.0 billion, up from $1.4 billion at January 31, 2025.
Revenue was $251.2 million, down $5.9 million or 2.3% from $257.0 million a year earlier.
Net income was $30.7 million, or $2.17 per diluted share, versus $28.0 million, or $2.00 per diluted share, a year earlier.
Gross margin was 18.7%, up from 17.2%, mainly from improved margins in the Power Industry Services and Industrial Construction Services segments.
Cash, cash equivalents and investments were $726.8 million at October 31, 2025, and the company reported no debt.
Hewlett Packard Enterprise reported fiscal fourth-quarter 2025 revenue of $9.7 billion, up 14% from a year earlier, and non-GAAP diluted EPS of $0.62, above its $0.56 to $0.60 outlook. GAAP diluted EPS fell to $0.11 and the company recorded an operating loss of $8 million, including $260 million in impairment charges. HPE raised its fiscal 2026 non-GAAP EPS guidance to $2.25 to $2.45 and declared a $0.1425 quarterly dividend.
Q4 revenue was $9.7 billion, up 14%; GAAP gross margin was 33.5% and non-GAAP gross margin was 36.4%
Non-GAAP diluted EPS was $0.62 versus $0.56 to $0.60 outlook; GAAP diluted EPS was $0.11, down $0.88 year over year
FY26 GAAP diluted EPS guidance raised to $0.62 to $0.82; non-GAAP diluted EPS raised to $2.25 to $2.45
Quarterly dividend of $0.1425 per share payable on or about January 16, 2026, to holders of record on December 19, 2025
Wiley reported fiscal second-quarter 2026 results for the quarter ended October 31, 2025, with revenue of $422 million, down from $427 million a year earlier, while operating income rose 14% to $73 million and GAAP diluted EPS rose 14% to $0.84. The company narrowed its fiscal 2026 revenue growth outlook to the low end of its range, citing market challenges in Learning, and reaffirmed its Adjusted EBITDA margin, Adjusted EPS and Free Cash Flow guidance.
Revenue was $422 million vs. $427 million a year earlier; Learning revenue fell 11% to $143 million, while Research revenue rose 6% to $279 million.
GAAP diluted EPS was $0.84 vs. $0.74; Adjusted EPS was $1.10, up 12% at constant currency.
Fiscal 2026 revenue growth is now expected to be low-single digit, narrowed from low-to-mid single digit growth.
Reaffirmed fiscal 2026 guidance: Adjusted EBITDA margin of 25.5% to 26.5%, Adjusted EPS of $3.90 to $4.35 and Free Cash Flow of approximately $200 million.
REX American Resources reported fiscal third-quarter 2025 results for the period ended October 31, 2025. Net sales and revenue rose slightly to $175.6 million and diluted EPS rose to $0.71 from $0.69, helped by fewer diluted shares, but gross profit fell to $36.1 million, net income attributable to REX shareholders declined to $23.4 million, and the company attributed the gross profit decline mainly to lower ethanol and distillers grain pricing. The company reported $335.5 million in cash and short-term investments and no bank debt, and said the One Earth expansion remains on track for 2026 completion.
Net sales and revenue of $175.6 million vs. $174.9 million in Q3 2024; gross profit of $36.1 million vs. $39.7 million
Net income attributable to REX shareholders of $23.4 million vs. $24.5 million; diluted EPS of $0.71 vs. $0.69 on 33,002,000 vs. 35,445,000 diluted shares
As of October 31, 2025, $335.5 million in cash, cash equivalents and short-term investments and no bank debt
One Earth carbon capture sequestration permit decision expected June 2026; combined project budget $220-$230 million, with $155.8 million capital expenditures to date
On December 3, 2025, Packaging Corp of America said it will permanently shut the No. 2 paper machine and kraft pulping facilities at its Wallula, Washington containerboard mill, with the work expected to finish by the end of the first quarter of 2026. The company estimates $205 million in pre-tax restructuring charges, mostly recorded in the fourth quarter of 2025 and first quarter of 2026, which will reduce reported earnings for those periods. The mill's annual capacity falls by 250,000 tons, and the company says production cost there should drop by about $125 per ton from 2025 levels.
Pre-tax restructuring charges estimated at $205 million, including about $165 million of non-cash impairment and accelerated depreciation and $40 million of cash charges
No. 2 paper machine and kraft pulping facilities to be shut; No. 3 paper machine and recycled pulping facilities continue operating; completion expected by end of Q1 2026
About 200 positions expected to be eliminated
Mill capacity reduced by 250,000 tons per year; lower production cost of about $125 per ton versus 2025 levels
Kroger reported third quarter 2025 sales of $33.9 billion, up from $33.6 billion a year earlier, and a GAAP loss of $(2.02) per share after a $2.6 billion impairment and related charge tied to its automated fulfillment network. Excluding adjustment items, EPS rose to $1.05 from $0.98, and the company raised the low end of its full-year adjusted EPS guidance to $4.75 to $4.80.
Q3 2025 operating loss of $(1,541) million versus operating profit of $828 million in Q3 2024; the $2.6 billion charge equals $3.00 per share
Adjusted FIFO operating profit of $1,089 million, up from $1,017 million; identical sales without fuel rose 2.6%
Full-year 2025 adjusted EPS guidance is now $4.75 to $4.80, versus $4.70 to $4.80 previously; identical sales guidance narrowed to 2.8% to 3.0%
Kroger expects to complete its remaining $2.5 billion open market share repurchases by the end of fiscal 2025
SAIC reported third-quarter fiscal 2026 revenue of $1.87 billion, down 6% from a year earlier, and net income of $78 million, down 26%. Adjusted diluted EPS was $2.58 versus $2.61, and the company raised its fiscal 2026 adjusted diluted EPS guidance to $9.80-$10.00 from $9.40-$9.60, which signals higher expected per-share profit despite lower quarterly sales.
Revenue was $1,866 million versus $1,976 million a year earlier; net income was $78 million versus $106 million.
Diluted EPS was $1.69 versus $2.13; adjusted diluted EPS was $2.58 versus $2.61.
Fiscal 2026 adjusted diluted EPS guidance was raised to $9.80-$10.00 from $9.40-$9.60; revenue guidance is $7.275 billion-$7.325 billion.
Board declared a quarterly dividend of $0.37 per share on December 2, 2025, payable January 28, 2026.
Hormel Foods reported fourth-quarter fiscal 2025 net sales of $3.2 billion, up 1.5%, but a $234 million non-cash impairment charge pushed operating income down to $2 million and produced a diluted loss of $0.10 per share. The company also guided fiscal 2026 adjusted diluted earnings per share to $1.43 to $1.51, up 4% to 10%, which signals an expected profit recovery for shareholders.
Q4 net sales were $3.2 billion, up 1.5%; operating income was $2 million versus $294 million a year earlier.
Q4 diluted loss per share was $0.10, compared with diluted earnings of $0.40 a year earlier; adjusted diluted EPS was $0.32 versus $0.42.
Fiscal 2026 outlook calls for net sales of $12.2 billion to $12.5 billion and adjusted diluted EPS of $1.43 to $1.51.
Quarterly dividend was increased 1% to an annualized rate of $1.17 per share, which the company described as its 60th consecutive year of dividend increases.
PVH reported third quarter 2025 revenue of $2.294 billion, up 2% from a year earlier, and non-GAAP EPS of $2.83, above its $2.35 to $2.50 guidance but below $3.03 in the prior-year quarter. GAAP EPS was $0.09, reflecting $22 million of pre-tax restructuring costs, and gross margin fell to 56.3% from 58.4% due largely to tariffs. The company narrowed its full-year non-GAAP EPS outlook to $10.85 to $11.00 from $10.75 to $11.00, which raises the low end of the range.
Q3 revenue rose 2% to $2.294 billion from $2.255 billion; constant-currency revenue fell less than 1%
Q3 non-GAAP EPS of $2.83 beat $2.35 to $2.50 guidance but declined from $3.03; GAAP EPS was $0.09 versus $2.34
Non-GAAP EBIT was $202 million versus $236 million; gross margin was 56.3% versus 58.4%
Full-year 2025 non-GAAP EPS outlook narrowed to $10.85 to $11.00; Q4 EPS projected at $3.20 to $3.35
Sprinklr reported third-quarter fiscal 2026 results for the quarter ended October 31, 2025. Total revenue rose 9% to $219.1 million, but GAAP net income fell to $2.9 million from $10.5 million a year earlier, while non-GAAP net income per diluted share rose to $0.12 from $0.10. The company also gave fourth-quarter and full-year fiscal 2026 revenue ranges, but this filing does not state whether those ranges changed from earlier outlooks.
Total revenue of $219.1 million, up 9% from $200.7 million; subscription revenue of $190.3 million, up 5%.
GAAP net income of $2.9 million, or $0.01 per diluted share, versus $10.5 million, or $0.04, a year earlier; non-GAAP operating income of $33.5 million versus $23.0 million.
Fourth-quarter total revenue guidance of $216.5 million to $217.5 million; full-year fiscal 2026 total revenue guidance of $853 million to $854 million.
Remaining performance obligations (RPO) down 5% year-over-year; current RPO (cRPO) up 3%; cash and marketable securities of $480.3 million as of October 31, 2025.
Macy's reported third-quarter 2025 results for the 13 weeks ended November 1, 2025, with net sales of $4.7 billion, down 0.6% from a year earlier, and comparable sales up 2.5% on an owned basis. GAAP diluted EPS fell to $0.04 from $0.10, while adjusted diluted EPS rose to $0.09 from $0.04. The company raised its full-year net sales and adjusted diluted EPS guidance, but reported profit and sales moved in different directions.
Net sales of $4.7 billion, down 0.6% year over year; comparable sales up 2.5% on an owned basis and 3.2% on an owned-plus-licensed-plus-marketplace basis
GAAP diluted EPS of $0.04 vs. $0.10 a year earlier; adjusted diluted EPS of $0.09 vs. $0.04
2025 adjusted diluted EPS guidance raised to $2.00 to $2.20 from $1.70 to $2.05; net sales guidance raised to $21.475 billion to $21.625 billion from $21.15 billion to $21.45 billion
Quarterly dividend of 18.24 cents per share, payable January 2, 2026, to holders of record on December 15, 2025
CrowdStrike reported third-quarter fiscal 2026 revenue of $1.23 billion, up 22% from a year earlier, and raised its full-year fiscal 2026 guidance. The company still posted a larger GAAP net loss than a year earlier, while non-GAAP net income reached a record $245.4 million.
Total revenue was $1.23 billion for the quarter ended October 31, 2025, up from $1.01 billion a year earlier.
GAAP net loss attributable to CrowdStrike was $34.0 million, or $0.14 per diluted share, compared with a loss of $16.8 million, or $0.07, a year earlier.
Non-GAAP net income per diluted share was a record $0.96, compared with $0.76 a year earlier.
Fourth-quarter fiscal 2026 total revenue guidance is $1,290.0 million to $1,300.0 million; full-year fiscal 2026 total revenue guidance is $4,796.6 million to $4,806.6 million.
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