924 material Form 8-K filings that 737 companies we cover made with the SEC in January 2026, 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).
NRG Energy completed its acquisition of 18 natural-gas-fired generation facilities and the CPower virtual power plant platform from LS Power, which the company says doubles its generation fleet to about 25 GW. The purchase price included $6.4 billion in cash, 24,250,000 newly issued NRG common shares, and about $3.2 billion of assumed debt, so the deal adds both cash and debt obligations and dilutes existing holders.
Purchase price: $6.4 billion in cash, 24,250,000 shares of common stock issued to sellers, and about $3.2 billion of assumed debt.
Acquired 18 natural-gas-fired facilities totaling about 13 GW, plus CPower's commercial and industrial VPP platform.
Cash portion funded partly by October 8, 2025 notes ($1.25 billion senior secured and $3.65 billion senior unsecured) and revolver borrowings.
Sellers' shares are locked up until July 30, 2026; NRG must file a Form S-3 resale registration for those shares; $1,500 million Lightning notes due 2032 and a $1.75 billion term loan were also disclosed.
First Hawaiian reported fourth-quarter 2025 net income of $69.9 million, or $0.56 per diluted share, down from $73.8 million, or $0.59 per share, in the prior quarter but up from $52.5 million, or $0.41 per share, a year earlier. The Board also adopted a stock repurchase program of up to $250.0 million and declared a quarterly dividend of $0.26 per share.
Net income $69.9 million vs $73.8 million in Q3 2025 and $52.5 million in Q4 2024
Diluted EPS $0.56 vs $0.59 in Q3 2025 and $0.41 in Q4 2024
Provision for credit losses $7.7 million vs $4.5 million in Q3 2025
Board adopted a repurchase program for up to $250.0 million; quarterly dividend of $0.26 payable February 27, 2026
Colgate-Palmolive reported fourth quarter 2025 net sales up 5.8% to $5,230 million, but GAAP diluted EPS was $(0.05) versus $0.90 a year earlier, driven by a $794 million after-tax goodwill and intangible asset impairment tied to the skin health business. Excluding these items, Base Business EPS rose 4% to $0.95. The company also guided 2026 net sales growth of 2% to 6% and GAAP double-digit EPS growth.
Q4 2025 net sales rose 5.8% to $5,230 million; organic sales rose 2.2%.
GAAP diluted EPS was $(0.05), down 106%, after a $794 million after-tax impairment charge on skin health goodwill and intangibles.
Base Business EPS rose 4% to $0.95; full-year 2025 GAAP EPS fell 25% to $2.63.
2026 guidance: net sales up 2% to 6%, organic sales growth of 1% to 4%, and GAAP double-digit EPS growth.
Church & Dwight reported fourth-quarter 2025 net sales of $1,644.2 million, up 3.9%, and adjusted EPS of $0.86, up 11.7%, while reported EPS fell to $0.60 after a $45.6 million after-tax charge tied to its VMS exit. For 2026, the company expects organic sales growth of 3% to 4% and adjusted EPS growth of 5% to 8%, while reported sales are expected to decline 0.5% to 1.5% because of 2025 business exits.
Q4 2025 organic sales rose 0.7%, below the company's outlook of approximately 1.5%.
Full-year 2025 net sales were $6,203.2 million, up 1.6%, and reported diluted EPS was $3.02 versus $2.37 in 2024.
The quarterly dividend rises 4.2% to $0.3075 per share, payable March 2, 2026.
The company expects Q1 2026 adjusted EPS of $0.92 per share and repurchased $900 million of shares in 2025.
Verizon reported fourth-quarter 2025 revenue of $36.4 billion, up 2.0% from a year earlier, and 616,000 postpaid phone net additions, up from 504,000. Reported EPS fell to $0.55 from $1.18 as selling, general and administrative expense rose 26.0%, while adjusted EPS, which excludes special items, was $1.09. The company also guided to 2026 adjusted EPS of $4.90 to $4.95 and free cash flow of $21.5 billion or more, and said the Frontier acquisition closed on January 20, 2026.
Q4 2025 total operating revenue $36.4 billion, up 2.0%; net income $2.4 billion versus $5.1 billion a year earlier
Q4 2025 EPS $0.55 (diluted $0.55 vs $1.18) and adjusted EPS $1.09; full-year 2025 EPS $4.06 and adjusted EPS $4.71
2026 outlook: adjusted EPS $4.90 to $4.95, 750,000 to 1.0 million postpaid phone net additions, free cash flow of $21.5 billion or more
Frontier acquisition closed January 20, 2026, expanding fiber access to over 30 million homes and businesses
Dorian LPG declared an irregular cash dividend of $0.70 per share, about $29.9 million in total, payable February 24, 2026 to holders of record on February 9, 2026. The company also said preliminary results for the quarter ended December 31, 2025 were affected by lower market rates in November and fog in the Houston Ship channel, and that it expects about $1.8 million in additional general and administrative expense.
Irregular dividend of $0.70 per share, about $29.9 million in total; record date February 9, 2026, payable on or about February 24, 2026
Market rates in November for December loadings were lower than in the previous two months
Fog in the Houston Ship channel caused unexpected waiting time, further reducing realized rates
Expected additional G&A expense of about $1.8 million from a higher Annual Cash Incentive plan accrual; full results due February 5, 2026
Seacoast reported fourth-quarter 2025 net income of $34.3 million and net revenues of $203.3 million, up 53% from a year earlier, following its acquisition of Villages Bancorporation, which closed October 1, 2025. Results included $18.1 million in merger and integration costs and $23.4 million in day-one credit provisions tied to that deal. The company also disclosed a pre-tax loss of about $39.5 million from a January 2026 securities sale, which will affect first-quarter 2026 results.
Net revenues were $203.3 million, up $70.4 million, or 53%, from the fourth quarter of 2024.
Net income of $34.3 million included $18.1 million in merger and integration costs and $23.4 million in day-one credit provisions.
Adjusted pre-tax pre-provision earnings were $93.2 million, up 65% from the fourth quarter of 2024.
On January 23, 2026, the company sold securities with a 1.9% average book yield, a pre-tax loss of about $39.5 million, and reinvested about $277 million at a 4.8% yield.
DXC Technology reported fiscal third-quarter 2026 revenue of $3.19 billion, down 1.0% year over year (down 4.3% on an organic basis), and non-GAAP diluted EPS of $0.96, up 4.3%. The company narrowed its full-year fiscal 2026 non-GAAP EPS guidance to about $3.15 from $2.85 to $3.35, while trimming its revenue outlook, so shareholders see mixed signals on sales versus profit.
Q3 revenue $3.19 billion, down 1.0% year over year; adjusted EBIT $263 million, down 8.0%
GAAP diluted EPS $0.61, up 96.8%; non-GAAP diluted EPS $0.96, up 4.3%
FY2026 non-GAAP diluted EPS guidance of about $3.15, versus prior range of $2.85 to $3.35
Bookings $3.6 billion, down 17% year over year; free cash flow $266 million in the quarter
FedEx France proposed a transformation program on January 23, 2026, to modernize its domestic operations in France, which may reduce up to 500 operational positions and change locations or schedules for up to 800 team members. FedEx expects pre-tax costs of $175 million to $275 million, mostly cash, through fiscal 2028, and the plan is subject to local consultation. FedEx also named Scott L. Ray to a US and Canada operations role and said John A. Smith will lead FedEx Freight after its spin-off, expected June 1, 2026.
Up to 500 operational positions may be reduced in France, and up to 800 team members may see changes to work locations or schedules.
Pre-tax costs for severance, legal and professional fees, and lease terminations are expected to range from $175 million to $275 million, substantially all in cash, through fiscal 2028.
Execution is expected over about 18 months and depends on local consultation processes, and actual amounts may differ from current estimates.
Scott L. Ray was named Chief Operating Officer, United States and Canada, of Federal Express Corporation, effective June 1, 2026; John A. Smith will lead FedEx Freight after its spin-off, expected June 1, 2026.
SL Green reported a fourth-quarter 2025 net loss attributable to common stockholders of $104.6 million, or $1.49 per share, compared with net income of $9.4 million, or $0.13 per share, a year earlier. Revenue rose to $276.5 million from $245.9 million, but funds from operations (FFO) fell to $1.13 per share from $1.81, so shareholders saw higher sales alongside a sharp drop in profit measures.
Q4 2025 total revenues were $276.5 million, up from $245.9 million in Q4 2024
Q4 2025 net loss to common stockholders was $104.6 million ($1.49 per diluted share), versus net income of $9.4 million ($0.13) in Q4 2024
Q4 2025 FFO was $1.13 per diluted share versus $1.81 a year earlier; full-year 2025 FFO was $5.72 versus $8.11
Manhattan same-store office occupancy rose to 93.0% as of December 31, 2025, from 92.4% at September 30, 2025
On January 29, 2026, VSE Corporation agreed to acquire Precision Aviation Group for up to $2.025 billion, made up of $1.75 billion in cash and $275 million in newly issued shares, plus up to $125 million in contingent payments tied to PAG's 2026 profitability. The deal is expected to close in the second quarter of 2026, subject to U.S. antitrust and Australian and UK foreign investment approvals, and lenders have committed up to $1.95 billion of new financing. VSE also released preliminary, unaudited 2025 results, with full-year revenue of about $1,101 million to $1,115 million, though the filing gives no prior-year comparison.
Upfront price of $2.025 billion: $1.75 billion cash plus $275 million in VSE stock, with up to $125 million more in earnout payments tied to 2026 profitability targets
Debt commitment letter for up to $1.95 billion of new financing, plus backstop commitments for VSE's existing revolving credit facility and term loan A
Expected closing in the second quarter of 2026; agreement can be terminated if closing has not occurred by July 29, 2026, with a possible three-month extension
Preliminary full-year 2025 revenue of about $1,101 million to $1,115 million and adjusted EBITDA of about $176 million to $184 million; full results and 2026 outlook due next month
Parker-Hannifin reported fiscal second-quarter results for the quarter ended December 31, 2025, with net sales up 9% to a record $5.2 billion and adjusted EPS up 17% to $7.65. Reported net income fell 11% to $845 million and diluted EPS fell 9% to $6.60, because the year-earlier quarter included a one-time after-tax divestiture gain. The company raised its fiscal 2026 guidance and said it has a definitive agreement to acquire Filtration Group Corporation.
Net sales rose 9% to $5.2 billion, with organic sales up 6.6%
Diluted EPS was $6.60, down from $7.25; adjusted EPS rose 17% to $7.65
Fiscal 2026 EPS guidance raised to $26.26 to $26.86, or $30.40 to $31.00 adjusted
Definitive agreement to acquire Filtration Group Corporation announced; the filing does not state a price
ManpowerGroup reported fourth-quarter 2025 revenue of $4.7 billion, up 7% as reported, and diluted EPS of $0.64 versus $0.47 a year earlier, after $0.28 per share of restructuring, pension and Argentina-related charges. For the full year, the company posted a net loss of $13.3 million, or $0.29 per diluted share, compared with net earnings of $145.1 million in 2024, due mainly to $88.7 million in goodwill and intangible impairment charges. Excluding charges, fourth-quarter EPS was $0.92, down 17% in constant currency, and the company guided first-quarter 2026 diluted EPS to $0.45 to $0.55.
Q4 2025 revenue was $4.7 billion, up 7% as reported and 2% organic constant currency
Q4 diluted EPS was $0.64 as reported and $0.92 excluding charges, a 17% constant-currency decrease
Full-year 2025 net loss was $13.3 million, including $88.7 million of impairment charges
Q1 2026 diluted EPS outlook is $0.45 to $0.55, including a favorable currency impact of $0.06
Lockheed Martin reported fourth-quarter and full-year 2025 results on January 29, 2026. Full-year sales rose 6% to $75.0 billion and a record $194 billion backlog, but net earnings fell to $5.0 billion, or $21.49 per share, from $22.31 in 2024, after a $479 million pension settlement charge and program losses. The company expects 2026 sales of $77.5 billion to $80.0 billion and diluted EPS of $29.35 to $30.25.
Q4 2025 sales were $20.3 billion, up from $18.6 billion, and diluted EPS was $5.80, up from $2.22 a year earlier.
Full-year 2025 business segment operating profit was $6.7 billion, up from $6.1 billion, and free cash flow was $6.9 billion.
2026 outlook: sales of $77.5 billion to $80.0 billion, diluted EPS of $29.35 to $30.25, and free cash flow of $6.5 billion to $6.8 billion, which the company said is an increase from its prior expectation.
International Paper reported preliminary full-year 2025 net sales of $23.63 billion, up from $15.84 billion in 2024, but a loss from continuing operations of $2.84 billion, compared with earnings of $725 million a year earlier. The loss reflects a $2.47 billion pre-tax goodwill impairment tied to its PS EMEA business, and the company also announced plans to separate its North America and EMEA packaging businesses into two independent public companies, expected within 12 to 15 months.
Full-year 2025 net sales were $23.63 billion versus $15.84 billion in 2024; loss from continuing operations was $2.84 billion versus earnings of $725 million.
Fourth-quarter 2025 loss from continuing operations was $2.36 billion, including a $2.47 billion pre-tax non-cash goodwill impairment charge.
2026 targets call for full-year adjusted EBITDA of $3.5 to $3.7 billion and first-quarter adjusted EBITDA of $740 to $760 million.
The separation of PS NA and PS EMEA is expected to be completed in 12 to 15 months; the Form 10-K is intended for filing on February 26, 2026.
Altria reported fourth-quarter and full-year 2025 results on January 29, 2026. Full-year net revenues fell 3.1% to $23.3 billion and reported diluted EPS fell 37.0% to $4.12, while adjusted diluted EPS rose 4.4% to $5.42, and the company guided to 2026 adjusted diluted EPS of $5.56 to $5.72. The same filing says Salvatore Mancuso joined the Board and will become Chief Executive Officer on May 14, 2026.
Full-year net revenues fell 3.1% to $23.3 billion; reported diluted EPS fell 37.0% to $4.12.
Fourth-quarter adjusted diluted EPS was flat at $1.30; reported EPS fell 63.1% to $0.66, mainly due to e-vapor impairment charges.
2026 adjusted diluted EPS guidance is $5.56 to $5.72, growth of 2.5% to 5.5% from $5.42, weighted to the second half.
Salvatore Mancuso was elected to the Board effective January 29, 2026, and becomes CEO effective May 14, 2026.
CNX reported fourth-quarter 2025 net income of $196.3 million, down from $202.1 million in the third quarter, while diluted EPS rose to $1.28 from $1.21 and revenue rose to $610.5 million from $583.8 million. The board also approved a $2.0 billion increase to the stock repurchase program, bringing the amount available to about $2.4 billion as of January 27, 2026.
Q4 2025 total revenue and other operating income was $610.5 million, versus $583.8 million in Q3 2025.
Q4 2025 net income was $196.3 million, versus $202.1 million in Q3 2025; diluted EPS was $1.28, versus $1.21.
Adjusted EBITDAX was $292 million in Q4 2025, versus $298 million in Q3 2025.
The board approved a $2.0 billion repurchase increase on January 27, 2026, with about $2.4 billion now available; the program has no expiration date.
CSW Industrials reported fiscal third-quarter 2026 revenue of $233.0 million, up 20.3% mainly from acquisitions, but diluted EPS fell 61.3% to $0.62 and adjusted EPS fell 21.1% to $1.42. Management attributed the profit decline mainly to interest expense on debt used for acquisitions, and organic revenue fell 2.9%. The results show growth in sales alongside lower per-share profit for shareholders.
Quarterly revenue of $233.0 million, up 20.3%, included $45.0 million from acquisitions while organic revenue fell 2.9%
Diluted EPS of $0.62 versus $1.60 a year earlier; adjusted EPS of $1.42 versus $1.80
Net debt of $764.2 million, a net leverage ratio of 2.3x within the company's 1-3x target range
Closed the MARS Parts acquisition for $650 million in cash, funded partly by a $600 million Term Loan A
Lazard reported fourth-quarter 2025 net revenue of $907 million, up 11% from a year earlier, while U.S. GAAP net income fell 42% to $50 million. Adjusted diluted EPS rose 3% to $0.80, and the company also named Tracy Farr as Chief Financial Officer. The mixed results matter to shareholders because GAAP earnings declined even as revenue grew.
Q4 2025 U.S. GAAP net revenue was $907 million, up 11%; full-year net revenue was $3,099 million, up 2%
Q4 2025 U.S. GAAP diluted EPS was $0.45, down 44%; adjusted diluted EPS was $0.80, up 3%
Full-year 2025 U.S. GAAP diluted EPS was $2.17, down 19%; adjusted diluted EPS was $2.44, up 4%
Tracy Farr was appointed Chief Financial Officer; a quarterly dividend of $0.50 per share was declared, payable February 20, 2026
Honeywell reported fourth-quarter 2025 sales of $9.8 billion, up 6%, and adjusted sales of $10.1 billion, up 10%. GAAP earnings per share fell 72% to $0.49, mainly due to one-time charges including an impairment tied to assets held for sale and a charge related to Flexjet litigation, while adjusted EPS rose 17% to $2.59. The company expects 2026 adjusted EPS of $10.35 to $10.65 and now expects the Honeywell Aerospace spin-off in the third quarter of 2026.
Q4 2025 sales were $9,758 million, up 6%; adjusted sales were $10,070 million, up 10%.
Q4 2025 operating income fell 35% to $996 million; operating margin was 10.2%, down 640 basis points.
2026 outlook: adjusted EPS of $10.35 to $10.65, up 6% to 9%, and sales of $38.8 billion to $39.8 billion.
The Honeywell Aerospace spin-off is now expected in the third quarter of 2026, ahead of prior expectations.
Dow announced Transform to Outperform, a company-wide plan to simplify operations and cut costs, targeting at least $2 billion in near-term Operating EBITDA improvement. The plan includes a workforce reduction of approximately 4,500 roles and about $1.1-1.5 billion in one-time costs, recorded in 2026 and 2027, which will weigh on near-term results and cash before the targeted benefits build.
Board approved severance and related benefit costs for about 4,500 roles globally on January 26, 2026
Anticipated one-time costs of about $1.1-1.5 billion, including about $600-800 million in severance and about $500-700 million in other costs
Targets $500 million in-year Op. EBITDA gain in 2026 and $1.2 billion incremental in 2027, with cash costs of $800-1,000 million in 2026 and $300-500 million in 2027
Company will file an amendment if charges and future cash payments differ materially from current estimates
United Rentals reported fourth-quarter 2025 total revenue of $4.208 billion, but net income fell 5.2% to $653 million and diluted EPS was $10.27. The company also gave 2026 guidance calling for total revenue of $16.8 billion to $17.3 billion and adjusted EBITDA of $7.575 billion to $7.825 billion, and announced a new $5 billion share repurchase program plus a 10% dividend increase.
Q4 2025 total revenue was $4.208 billion, versus $4.095 billion a year earlier; net income was $653 million, versus $689 million.
Full-year 2025 total revenue was $16.099 billion and net income was $2.494 billion; full-year diluted EPS was $38.61.
2026 outlook: total revenue $16.8 billion to $17.3 billion; adjusted EBITDA $7.575 billion to $7.825 billion; free cash flow excluding merger and restructuring payments $2.15 billion to $2.45 billion.
The company intends to repurchase $1.5 billion of common stock in 2026, including $1.15 billion under the new program, and the quarterly dividend rises to $1.97 per share.
Whirlpool reported fourth-quarter and full-year 2025 results and gave 2026 guidance. Fourth-quarter net sales fell 0.9% to $4,098 million and ongoing earnings per diluted share dropped to $1.10 from $4.57, while full-year ongoing EPS fell 49.0% to $6.23. The company expects 2026 ongoing EPS of about $7.00, which would be above its 2025 ongoing result, and plans to pay down about $400 million of debt.
Q4 2025 net sales $4,098 million, down 0.9% year over year; Q4 GAAP EPS $1.91 versus a $7.10 loss a year earlier
Full-year 2025 net sales $15.5 billion, down 6.5%; ongoing EBIT $729 million, down 17.8%
2026 outlook: ongoing EPS about $7.00, GAAP EPS about $6.25, net sales $15.3 to $15.6 billion
2026 free cash flow guided at $400 to $500 million; Whirlpool reduced its stake in Whirlpool of India to about 40% and used proceeds to reduce debt
Mid-America Apartment Communities entered a settlement agreement on January 26, 2026, to resolve a class action alleging it and other apartment owners inflated rents through RealPage revenue management software, paying $53 million in two installments. The company expects to raise its loss contingency reserve to $62.5 million in its 2025 year-end financials, but says the charge will not affect 2025 Core FFO or FAD and does not expect material effects on liquidity or its credit rating.
Settlement payment totals $53 million, paid in two $26.5 million installments, the first no earlier than March 2, 2026
Loss contingency reserve to rise to $62.5 million, recorded as other non-operating expense in 2025 financials
2025 Core FFO and FAD are not affected; the settlement will be reflected in 2026 guidance when provided
Settlement remains subject to Court approval; plaintiffs must seek preliminary approval by March 31, 2026
Southwest reported 2025 net income of $441 million, or $0.79 per diluted share, down 5.2% from $465 million a year earlier, while full-year operating revenues reached a record $28.1 billion, up 2.1%. The company guided 2026 adjusted EPS of at least $4.00, and said Winter Storm Fern is included in its first quarter and full-year outlook.
Q4 2025 net income was $323 million, or $0.61 per diluted share, up from $261 million, or $0.42, a year earlier.
Full-year 2025 adjusted EBIT was $574 million, above prior guidance of $500 million; full-year adjusted EPS was $0.93, down from $0.96.
2026 adjusted EPS guidance is at least $4.00; first quarter 2026 adjusted EPS is guided at least $0.45.
Southwest returned $2.9 billion to shareholders in 2025 through share repurchases and dividends.
CONMED reported fourth-quarter 2025 sales of $373.2 million, up 7.9%, while GAAP diluted earnings per share fell to $0.54 from $1.08, and adjusted EPS rose to $1.43 from $1.34. For 2026, the company expects adjusted diluted EPS of $4.30 to $4.45, compared with $4.59 adjusted for full-year 2025, so shareholders face a lower adjusted earnings outlook despite higher sales.
Q4 2025 net sales $373.2 million, up 7.9% as reported and 7.1% in constant currency; international revenue up 17.0%, domestic up 1.4%
Q4 GAAP diluted EPS $0.54 vs $1.08 a year earlier; adjusted diluted EPS $1.43 vs $1.34
Full-year 2025 net sales $1,374.7 million, up 5.2%; GAAP diluted EPS $1.51 vs $4.25 in 2024; adjusted EPS $4.59 vs $4.17
2026 outlook: reported revenue $1.345 billion to $1.375 billion and adjusted diluted EPS $4.30 to $4.45
Meta reported fourth-quarter 2025 revenue of $59.89 billion, up 24%, and diluted EPS of $8.88, up 11%, but full-year net income fell 3% to $60.46 billion and diluted EPS fell 2% to $23.49 after a valuation allowance charge tied to the One Big Beautiful Bill Act raised the full-year tax provision to $25.47 billion. The company guided to 2026 total expenses of $162-169 billion and capital expenditures of $115-135 billion, and said it expects 2026 operating income to exceed 2025 operating income.
Q4 2025 revenue was $59.89 billion, up 24% year over year; income from operations rose 6% to $24.75 billion, and operating margin fell to 41% from 48%.
Full-year 2025 effective tax rate was 30%, versus 12% in 2024; the company said it would have been 13% absent the charge.
Q1 2026 revenue guidance is $53.5-56.5 billion, with an assumed foreign currency tailwind of about 4%.
Capital expenditures were $72.22 billion in 2025; 2026 capital expenditures are expected at $115-135 billion.
Progressive reported December 2025 net income of $1.147 billion, up 22% from $942 million a year earlier, and full-year 2025 net income of $11.308 billion, up from $8.480 billion in 2024. The company also said CFO John Sauerland will retire on July 3, 2026, and Chief Strategy Officer Andrew Quigg is expected to succeed him.
December 2025 net income was $1.147 billion versus $942 million; diluted EPS was $1.95 versus $1.60.
December combined ratio was 87.1 versus 84.1 a year earlier, a higher (less favorable) figure.
Full-year 2025 net income was $11.308 billion versus $8.480 billion; full-year diluted EPS was $19.23 versus $14.40.
Sauerland retires July 3, 2026; Quigg is expected to be appointed CFO upon his retirement.
Scotts Miracle-Gro reported first-quarter net sales of $354.4 million, down 3% from a year earlier, and a net loss of $125.0 million, compared with $69.5 million a year earlier. The larger loss reflects a $77.2 million loss from discontinued operations tied to Hawthorne, which is being sold to Vireo Growth, Inc. The company reaffirmed its fiscal 2026 guidance and authorized a $500 million share repurchase program, with repurchases expected to begin in late 2026.
Net sales were $354.4 million, down 3% from $366.6 million in the prior-year quarter.
Net loss from continuing operations narrowed to $47.8 million, or $0.83 per share, from $66.1 million, or $1.15 per share; total net loss was $125.0 million, or $2.16 per share.
Hawthorne sale to Vireo Growth, Inc. is in advanced discussions, with closing anticipated in the fiscal second quarter.
Board approved a share repurchase program of up to $500 million; fiscal 2026 guidance, including $275 million of free cash flow, was reaffirmed.
Littelfuse reported fourth-quarter 2025 net sales of $594 million, up 12%, but a $301 million non-cash goodwill impairment on its Semiconductor Products business produced a GAAP net loss of $242 million. Adjusted diluted EPS rose to $2.69 from $1.53, and the company guided first-quarter 2026 net sales to $625 million to $645 million, with adjusted EPS of $2.70 to $2.90.
Q4 2025 net sales were $594 million, up 12%; organic growth contributed 7%.
GAAP diluted loss per share was $9.72 for Q4 2025, versus a loss of $2.09 a year earlier, including the $301 million goodwill impairment.
Adjusted diluted EPS was $2.69 for Q4 2025, compared with $1.53 a year earlier; full-year 2025 adjusted EPS was $10.68, up 34%.
First-quarter 2026 guidance: net sales of $625 million to $645 million and adjusted diluted EPS of $2.70 to $2.90; the company also declared a $0.75 per share dividend payable March 5, 2026.
Stifel Financial reported record fourth-quarter net revenues of $1.56 billion, up from $1.36 billion a year earlier, and diluted EPS of $2.31 versus $2.09. For the full year, net income available to common shareholders fell to $646.5 million, or $5.87 per diluted share, from $694.1 million, or $6.25, as elevated legal provisions weighed on results. The board also declared a three-for-two stock split and an 11% dividend increase.
Q4 2025 net revenues $1.56 billion, up 14.4% from $1.36 billion; diluted EPS $2.31 versus $2.09
Full-year 2025 net revenues $5.53 billion; diluted EPS $5.87 versus $6.25, with $1.16 per share of after-tax legal provisions cited
Three-for-two stock split as a 50% stock dividend, distributed February 26, 2026, to holders of record February 12, 2026
Quarterly common dividend raised 11% to $0.51 per share starting in the first quarter of 2026
Lennox reported fourth-quarter 2025 revenue of $1.2 billion, down 11%, and adjusted diluted EPS of $4.45, down 22%, with figures reflecting a change from LIFO to FIFO inventory accounting. The company also guided for 2026 revenue growth of about 6% to 7% and adjusted EPS of $23.50 to $25.00, which shareholders can compare with a full-year 2025 adjusted EPS of $23.16.
Q4 2025 revenue $1.2 billion, down 11%; segment profit $212 million, down 16%
Q4 GAAP diluted EPS $4.07 versus $5.64 a year earlier; adjusted diluted EPS $4.45 versus $5.72 restated basis, down 22%
Full year 2025 adjusted diluted EPS $23.16, up 2%; revenue $5.2 billion, down 3%
2026 guidance: revenue up about 6% to 7%, adjusted EPS $23.50 to $25.00, free cash flow $750 million to $850 million
Elevance Health reported fourth quarter 2025 operating revenue of $49.3 billion, up 10% from a year earlier, and GAAP diluted EPS of $2.47 versus $1.81. For the full year, GAAP diluted EPS fell 1.8% to $25.21 and adjusted diluted EPS fell 8.3% to $30.29. The company projects 2026 adjusted diluted EPS of at least $25.50 and GAAP diluted EPS of at least $22.30, both below 2025 levels.
Q4 2025 operating gain was $0.3 billion versus $0.7 billion a year earlier; benefit expense ratio rose to 93.5%, up 110 basis points.
Full-year 2025 adjusted operating gain was $7.5 billion versus $9.3 billion in 2024.
2026 outlook: total operating revenue expected to decline at a low single digit rate; adjusted operating gain of at least $6.8 billion.
Returned $4.1 billion to shareholders in 2025; Q1 2026 dividend declared at $1.72 per share, payable March 25, 2026.
Qorvo reported fiscal 2026 third-quarter revenue of $993.0 million, up 8.4% from a year earlier but down from $1,058.5 million in the prior quarter. GAAP diluted EPS was $1.75, versus $0.43 a year earlier. The company expects March quarter revenue of about $800 million, which implies a steep sequential decline and is a key consideration for shareholders.
Q3 revenue of $993.0 million, up 8.4% year over year from $916.3 million and down from $1,058.5 million in fiscal Q2
GAAP diluted EPS of $1.75 versus $0.43 a year earlier; non-GAAP diluted EPS of $2.17 versus $1.61
March 2026 quarter outlook: revenue of about $800 million plus or minus $25 million, non-GAAP gross margin of 48% to 49%, non-GAAP diluted EPS of $1.20 plus or minus 15 cents
Applied Industrial Technologies reported fiscal 2026 second-quarter net sales of $1.2 billion, up 8.4%, and net income of $95.3 million, or $2.51 per diluted share, up 4.6%. The company narrowed its fiscal 2026 EPS guidance to $10.45 to $10.75 from $10.10 to $10.85, and also announced an acquisition and an 11% dividend increase.
Q2 diluted EPS of $2.51 versus $2.39 a year earlier; EBITDA of $140.4 million, up 3.9%
FY26 EPS guidance adjusted to $10.45 to $10.75 (prior $10.10 to $10.85); LIFO expense guidance raised to $24 million to $26 million
Acquisition of Thompson Industrial Supply Inc., expected to generate about $20 million in annual sales in its first year
Quarterly dividend raised 11% to $0.51 per share, payable February 27, 2026, to holders of record on February 13, 2026
Sysco reported fiscal second-quarter 2026 results for the 13 weeks ended December 27, 2025. Sales rose 3.0% to $20.8 billion, but GAAP operating income fell 2.8% to $692 million and GAAP net earnings fell 4.2% to $389 million, while adjusted diluted EPS rose 6.5% to $0.99. Management now expects full-year adjusted EPS at the high end of its previously provided $4.50-$4.60 range, a guidance change shareholders will weigh against the lower GAAP profit.
Sales rose 3.0% to $20.8 billion; U.S. Foodservice local case volume rose 1.2%.
GAAP diluted EPS fell 1.2% to $0.81; adjusted diluted EPS rose 6.5% to $0.99.
Full-year adjusted EPS now expected at the high end of the prior $4.50-$4.60 range, per CEO Kevin Hourican and CFO Kenny Cheung.
Cash balance was $1.2 billion at quarter end; dividends paid were $518 million in the first 26 weeks.
World Acceptance Corporation reported a net loss of $0.9 million, or $0.19 per diluted share, for its fiscal third quarter ended December 31, 2025, compared with net income of $13.4 million, or $2.45 per diluted share, a year earlier. Total revenues rose 1.9% to $141.3 million, but the provision for credit losses increased to $51.4 million, and the company said new customer growth required a substantial rebuild of its loan loss allowance.
Q3 net loss of $0.9 million ($0.19 per diluted share) versus net income of $13.4 million ($2.45 per share) a year earlier
Total revenues rose 1.9% to $141.3 million; provision for credit losses rose $7.3 million to $51.4 million
Gross loans rose 1.5% year over year to $1.40 billion; net charge-offs rose to 18.7% of average net loans on an annualized basis
Company expects a 3-5% reduction in headcount and lower charge-offs as new customers gain tenure
Boeing reported fourth-quarter 2025 revenue of $23.9 billion, up 57% from a year earlier, and GAAP diluted earnings of $10.23 per share versus a loss of $5.46 per share in the prior-year quarter. The profit was driven mainly by a $9.6 billion gain on the sale tied to closing the Digital Aviation Solutions transaction, so shareholders should weigh the gain against underlying operating results, which remained a loss in Commercial Airplanes and Defense, Space & Security.
Q4 revenue $23.9 billion versus $15.2 billion; 160 commercial deliveries versus 57
GAAP diluted EPS $10.23; core EPS (non-GAAP) $9.92, versus a loss of $5.90 a year earlier
Full-year 2025 revenue $89.5 billion, up 34%; GAAP diluted EPS $2.48 versus a loss of $18.36 in 2024
Full-year 2025 free cash flow (non-GAAP) was negative $1.9 billion; cash and marketable securities rose to $29.4 billion at year-end
General Motors reported a fourth-quarter 2025 net loss of $3.3 billion, which included more than $7.2 billion in special charges tied to electric vehicle capacity changes and U.S. policy shifts. Full-year 2025 net income fell to $2.7 billion from $6.0 billion, while the company guided to 2026 EBIT-adjusted of $13.0 billion to $15.0 billion and raised its quarterly dividend 20% to $0.18 per share alongside a new $6.0 billion share repurchase authorization.
Q4 2025 revenue was $45.3 billion, down 5.1% from $47.7 billion; EBIT-adjusted rose 13.3% to $2.8 billion.
Full-year 2025 EPS-diluted was $3.27 versus $6.37 in 2024; EPS-diluted-adjusted was $10.60, flat year over year.
2026 guidance: EBIT-adjusted $13.0 billion to $15.0 billion and EPS-diluted $11.00 to $13.00.
Quarterly dividend raised to $0.18 per share, payable March 19, 2026; new $6.0 billion buyback with no expiration date.
American Airlines reported fourth-quarter 2025 revenue of $14.0 billion, up 2.5% from a year earlier, while GAAP net income fell to $99 million, or $0.15 per diluted share, from $590 million, or $0.84. The company guided to full-year 2026 adjusted EPS of $1.70 to $2.70 but expects a first-quarter 2026 adjusted loss of $0.10 to $0.50 per diluted share, citing Winter Storm Fern, which shareholders should weigh against the stronger revenue outlook.
Q4 2025 total operating revenues were $14.0 billion, up 2.5%; full-year revenue was $54.6 billion, up 0.8%
Q4 2025 GAAP net income was $99 million ($0.15 per diluted share) versus $590 million ($0.84) a year earlier; full-year net income was $111 million ($0.17)
Q1 2026 guidance calls for total revenue up 7.0% to 10.0% and an adjusted loss of $0.10 to $0.50 per diluted share; the storm has caused more than 9,000 flight cancellations
The company reduced total debt by $2.1 billion in 2025 to $36.5 billion and expects free cash flow of more than $2 billion in 2026
Invesco reported fourth-quarter 2025 results on January 27, 2026. Operating revenues rose 6.2% from a year earlier to $1,692.0 million, but a $1.8 billion non-cash intangible asset impairment produced a GAAP loss of $2.61 per diluted share, compared with diluted EPS of $0.46 a year earlier. Excluding the impairment, adjusted diluted EPS was $0.62, up from $0.52, and the company declared a $0.21 per share common dividend.
GAAP diluted EPS was a loss of $2.61 versus $0.46 in Q4 2024, driven by a $1.8 billion non-cash intangible asset impairment.
Adjusted diluted EPS was $0.62, up from $0.52 in Q4 2024; net revenues rose 8.8% to $1,258.9 million.
Net long-term inflows were $19.1 billion in the quarter, and ending assets under management reached $2.2 trillion.
Common dividend of $0.21 per share is payable March 3, 2026, to holders of record on February 13, 2026.
UnitedHealth reported fourth quarter and full year 2025 results on January 27, 2026. Full year revenue rose to $447.6 billion, but diluted earnings per share fell to $13.23 from $15.51, after a fourth quarter charge of $1.6 billion net of taxes, or $1.78 per share. The company also issued 2026 guidance calling for diluted earnings per share above $17.10 and adjusted earnings per share above $17.75.
Q4 2025 diluted EPS was $0.01 versus $5.98 in Q4 2024; adjusted EPS was $2.11 versus $6.81
Full year 2025 revenue was $447.6 billion, up 12% year over year; diluted EPS was $13.23 versus $15.51 in 2024
Q4 2025 included a $1.6 billion net-of-tax charge ($1.78 per share) tied to cyberattack costs, divestitures, and restructuring
2026 outlook: revenue above $439.0 billion, earnings from operations above $24.0 billion, and cash flows from operations above $18.0 billion
Polaris reported fourth quarter 2025 sales of $1.92 billion, up 9% from a year earlier, but a reported net loss of $304 million, or $5.34 per diluted share, driven by charges tied to the held-for-sale Indian Motorcycle business. The company guided 2026 sales up 1% to 3% and adjusted diluted EPS of $1.50 to $1.60, compared with an adjusted loss of $0.01 in 2025.
Q4 2025 sales were $1.92 billion, up 9% year over year; adjusted Q4 EPS was $0.08.
Q4 reported net loss attributable to Polaris was $304 million ($5.34 per diluted share), versus net income of $11 million ($0.19 per share) in Q4 2024.
Q4 2025 results included $288 million in impairment and other charges tied to the Indian Motorcycle business held for sale.
2026 outlook: sales up 1% to 3% and adjusted diluted EPS of $1.50 to $1.60, versus an adjusted loss of $0.01 in 2025.
Booz Allen reported fiscal third-quarter 2026 results for the quarter ended December 31, 2025, with revenue down 10.2% year over year to $2.6 billion. The company said revenue fell about 6% excluding the impact of the government shutdown, while adjusted diluted EPS rose 14.2% to $1.77. It raised its fiscal 2026 adjusted diluted EPS guidance but lowered its free cash flow guidance, so the results point in different directions for shareholders.
Revenue was $2.6 billion, down 10.2% from $2.9 billion a year earlier; adjusted EBITDA was $285 million, down 14.2%, with a 10.9% margin.
Adjusted diluted EPS was $1.77, up 14.2% from $1.55; GAAP diluted EPS was $1.63, up 12.4% from $1.45.
Fiscal 2026 adjusted diluted EPS guidance was raised to $5.95 to $6.15 from $5.45 to $5.65.
Fiscal 2026 free cash flow guidance was lowered to $825 million to $900 million from $850 million to $950 million.
Materion said a quality issue at a large precision clad strip customer will lead to a fourth-quarter charge of about $20 to $25 million, excluded from non-GAAP results. The company estimates adjusted EPS of $1.50-$1.55 for the fourth quarter and $5.40-$5.45 for full-year 2025, which it says is slightly below the midpoint of its full-year guidance. Shareholders get a preliminary view ahead of the February 12, 2026 earnings release, and the figures remain unaudited.
Fourth-quarter charge of approximately $20 to $25 million covers a quality claim, material scrap and temporary plant idling costs
Adjusted EPS estimated at $1.50-$1.55 for Q4 and $5.40-$5.45 for full-year 2025, both excluding the charge
Estimates are slightly below the midpoint of full-year guidance; Electronic Materials and Precision Optics performed better than expected
Fourth-quarter earnings release scheduled for February 12, 2026; figures are preliminary and unaudited
Alaska Air Group reported fourth-quarter and full-year 2025 results on January 22, 2026. Fourth-quarter revenue rose 3% to $3.6 billion, and adjusted EPS of $0.43 beat the company's prior expectation of about $0.10, but both GAAP and adjusted EPS fell sharply from a year earlier. The company guided to full-year 2026 adjusted EPS of $3.50 to $6.50 and a first-quarter adjusted loss of $0.50 to $1.50 per share.
Q4 2025 GAAP net income was $21 million, or $0.18 per share, versus $71 million, or $0.55 per share, in Q4 2024.
Q4 2025 adjusted EPS was $0.43, versus $0.97 a year earlier and the company's prior expectation of about $0.10.
Full-year 2025 adjusted EPS was $2.44, versus $4.87 in 2024; the company repurchased 11.3 million shares for $570 million in 2025.
2026 guidance: full-year adjusted EPS of $3.50 to $6.50; first-quarter adjusted EPS of ($1.50) to ($0.50).
Sallie Mae reported fourth-quarter 2025 GAAP diluted EPS of $1.12, up from $0.50 a year earlier, and full-year EPS of $3.46, up from $2.68 in 2024. It also authorized a new $500 million share repurchase program and expects 2026 GAAP diluted EPS of $2.70 to $2.80, below the 2025 level. Shareholders get higher 2025 profit and new capital returns, but the 2026 outlook points to lower per-share earnings than 2025.
Q4 2025 net income was $233 million, versus $112 million in Q4 2024; full-year 2025 net income was $745 million, versus $608 million in 2024.
For 2026, the company expects GAAP diluted EPS of $2.70 to $2.80, net charge-offs of $345 million to $385 million, and non-interest expenses of $750 million to $780 million.
The board authorized a $500 million buyback starting January 22, 2026, expected to run about 24 months through February 4, 2028.
The 2024 buyback program had $33 million of capacity left as of December 31, 2025 and expires February 6, 2026.
On January 15, 2026, Worthington Steel and its German subsidiary Worthington Steel GmbH signed a business combination agreement with Kloeckner & Co SE, under which the subsidiary will launch a voluntary cash takeover offer for Kloeckner shares at €11.00 each. The company expects the deal to be substantially accretive to EPS within the first full year and to generate about $150 million of annual run-rate synergies, but it anticipates pro forma net leverage of about 4.0x at closing, with a goal of getting below 2.5x within 24 months.
Offer price is €11.00 in cash per Kloeckner share, with closing conditions including acceptance by holders of at least 65% of Kloeckner shares.
SWOCTEM GmbH, which owns approximately 42% of Kloeckner shares, agreed in an Irrevocable Undertaking to accept the offer.
The company's Equity Commitment Letter provides financing of up to €1,632,000,000, and Worthington expects pro forma net leverage of about 4.0x including synergies at closing.
Closing is expected in the second half of calendar 2026, and the regulatory condition must be satisfied by the Long Stop Date, 12 months after the initial acceptance period expires.
Capital One reported fourth-quarter 2025 net income of $2.1 billion, or $3.26 per diluted share, up from $2.67 a year earlier but down from $4.83 in the third quarter. On January 22, 2026, it also agreed to acquire Brex Inc. for $5.15 billion, with about 50% cash and 50% stock, which adds a large deal shareholders will need to weigh.
Q4 2025 net income $2.1 billion, or $3.26 per diluted share, versus $4.83 in Q3 2025 and $2.67 in Q4 2024
Company-defined adjusted EPS, excluding adjusting items, was $3.86 per diluted share
Total net revenue rose 1% from Q3 to $15.6 billion; provision for credit losses rose $1.4 billion to $4.1 billion
Brex acquisition agreed January 22, 2026 for $5.15 billion, about 50% cash and 50% stock
Autodesk announced a restructuring plan that will eliminate about 1,000 roles, roughly 7% of its workforce, with most cuts in customer-facing sales, and expects $135 million to $160 million in pre-tax charges. The company also said fourth-quarter and full-year fiscal 2026 billings, revenue, non-GAAP operating margin, non-GAAP earnings per share and free cash flow are now expected to be above the top end of its prior guidance, so shareholders face a higher near-term charge alongside stronger expected results.
About 1,000 employees, roughly 7% of the workforce, to be terminated, with a significant portion in customer-facing sales.
Expected pre-tax restructuring charges of $135 million to $160 million, with $90 million to $110 million recorded in the fourth quarter of fiscal 2026.
Fourth-quarter and full-year fiscal 2026 billings, revenue, non-GAAP operating margin, non-GAAP EPS and free cash flow now expected above the top end of guidance given November 25, 2025.
Plan expected to be completed by the end of the fourth quarter of fiscal 2027; charges to be excluded from non-GAAP measures.
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