Reports

Aon plc delivered a strong third quarter in 2024, with total revenue increasing by 26% to $3.7 billion, including 7% organic revenue growth. Adjusted operating margin expanded to 24.6%, and adjusted EPS grew by 17% to $2.72. The NFP acquisition significantly contributed to revenue and operating expenses, while the company continued to repurchase shares and lead in catastrophe bond placements.

• Total revenue increased 26% to $3.7 billion, with organic revenue growth of 7%.
• Adjusted operating margin increased to 24.6%, reflecting strong operational performance.

Carnival Corporation & plc reported a strong third quarter with record revenues of $7.9 billion and net income of $1.7 billion, driven by high-margin, same-ship yield growth and cost saving opportunities. The company raised its full year 2024 adjusted EBITDA guidance to approximately $6.0 billion and expects adjusted return on invested capital to be approximately 10.5 percent.

• Net income increased over 60 percent compared to 2023, reaching $1.7 billion.
• Revenues hit an all-time high of $7.9 billion, up $1.0 billion compared to the prior year.

Carnival Corporation & plc reported a strong third quarter with record-high revenues and operating income. Net income increased by over 60% compared to the previous year, and the company raised its full-year adjusted EBITDA guidance.

• Net income was $1.7 billion, an increase of over 60 percent compared to 2023 and adjusted net income outperformed June guidance by $170 million.
• Revenues hit an all-time high of $7.9 billion, up $1.0 billion compared to the prior year.

Federal Realty Investment Trust reported a net income of $63,461,000 for the three months ended September 30, 2024, a 6.9% increase from the previous year. Operating income also saw a notable rise of 5.7% to $105,832,000. The company's revenue increased by 5.9% to $303,633,000, primarily due to higher rental rates and recent acquisitions. Despite increased expenses, the company maintained strong occupancy and leasing rates.

• Net income increased by 6.9% to $63,461,000 for the three months ended September 30, 2024, compared to $59,392,000 in the same period last year.
• Operating income grew by 5.7% to $105,832,000, up from $100,084,000 in Q3 2023.

Howard Hughes Holdings Inc. reported a net income of $96.5 million for the third quarter of 2024, with diluted EPS of $1.95. The company achieved a record MPC EBT of $145 million, a 184% year-over-year increase in residential land sales revenue, and an 8% year-over-year increase in Operating Assets NOI to $65 million. The company also completed the spinoff of Seaport Entertainment Group and raised its full-year guidance for MPC EBT and Operating Assets NOI.

• Net income from continuing operations per diluted share increased to $1.95, up from $0.64 in the prior year.
• Master Planned Community (MPC) EBT reached a new quarterly record of $145 million, driven by a 184% year-over-year increase in residential land sales revenue.

Crane NXT, a premier industrial technology company, announced strong third-quarter 2024 financial results, with sales increasing by 14.3% to $403.5 million and core sales growth of 4.7%. The company reported GAAP EPS of $0.81 and Adjusted EPS of $1.16, while also narrowing its full-year Adjusted EPS guidance to $4.22 to $4.30. Strategic acquisitions and debt repayment efforts were also highlighted.

• Sales increased by 14.3% to $403.5 million in Q3 2024, with core sales growth of 4.7%.
• GAAP earnings per diluted share (EPS) were $0.81, and Adjusted EPS reached $1.16.

Bitdeer's Q3 2024 performance saw a significant decrease in total revenue and a net loss, primarily due to the impact of the 2024 halving, increased global hash rate, and higher R&D costs. Despite these challenges, the company made substantial progress in commercializing its SEALMINER mining rigs and expanding its infrastructure.

• Total revenue decreased to $62.0 million from $87.3 million in Q3 2023.
• The company reported a net loss of $50.1 million, a significant increase from a net loss of $1.8 million in Q3 2023.

The Cheesecake Factory Incorporated announced robust third-quarter fiscal 2024 results, with total revenues reaching $865.5 million, up from $830.2 million in the prior year. Net income stood at $30.0 million, or $0.61 per diluted share, demonstrating continued growth and operational efficiency.

• Total revenues increased to $865.5 million in Q3 2024 from $830.2 million in Q3 2023.
• Net income for Q3 2024 was $30.0 million, with diluted net income per share at $0.61.

Sitio Royalties announced robust third quarter 2024 operational and financial results, with production above guidance, strong year-to-date performance, and positive impacts from recent acquisitions. The company reported net income of $27.9 million and Adjusted EBITDA of $135.4 million, while reducing long-term debt by approximately $56.5 million.

• Production exceeded full-year guidance, averaging 38,585 Boe/d (50% oil).
• Net income was $27.9 million and Adjusted EBITDA was $135.4 million.

Upbound Group, Inc. delivered a robust third quarter in 2024, with consolidated revenues increasing by 9.2% year-over-year to $1,068.9 million. Net earnings saw a substantial rise to $30.9 million, and diluted EPS reached $0.55, with non-GAAP diluted EPS at $0.95. This performance was bolstered by double-digit GMV growth in Acima and positive same-store sales growth in Rent-A-Center, positioning the company to achieve its full-year 2024 guidance.

• Consolidated revenues increased 9.2% year-over-year to $1,068.9 million, driven by higher rentals and fees revenue and merchandise sales.
• GAAP operating profit increased to $70.1 million, up from $58.1 million in the prior year, with the operating profit margin improving to 6.6%.

Delek US Holdings reported a net loss of $76.8 million for the third quarter of 2024, or $(1.20) per share. Adjusted net loss was $93.0 million, or $(1.45) per share, with adjusted EBITDA of $70.6 million. The company successfully closed several strategic transactions, including the sale of retail assets for $390 million and the drop-down of the Wink to Webster pipeline into DKL. The logistics segment achieved a record quarterly EBITDA of $106.1 million.

• Net loss of $76.8 million or $(1.20) per share, with an adjusted net loss of $93.0 million or $(1.45) per share.
• Adjusted EBITDA for the quarter was $70.6 million, significantly lower than $345.1 million in the prior year.

Zymeworks reported a revenue of $16.0 million for the third quarter of 2024, a decrease from $16.5 million in the same period last year. The company's net loss for the quarter was $29.85 million, compared to $28.687 million in Q3 2023. Key highlights include the first patient dosed in a Phase 1 trial for ZW171, preclinical data presentations for ZW220 and ZW251, and the completion of an initial share repurchase program.

• First patient dosed in Phase 1 clinical trial evaluating ZW171 in advanced mesothelin (MSLN)-expressing cancers.
• Preclinical data presented on ZW220 and ZW251 at EORTC-NCI-AACR conference, with IND applications anticipated in 2025.

Getty Images reported strong performance in the third quarter of 2024, with revenue increasing by 4.9% year-over-year to $240.5 million and Adjusted EBITDA up 0.4% to $80.6 million. The company saw growth across all customer categories and a nearly 50% increase in annual subscribers.

• Revenue grew by 4.9% year-over-year, reaching $240.5 million, and 5.4% on a currency neutral basis.
• Adjusted EBITDA was $80.6 million, a 0.4% increase year-over-year, with a strong margin of 33.5%.