Reports

Honeywell reported a 6% increase in sales and a 3% increase in organic sales year-over-year. Adjusted earnings per share increased by 8% year over year. The company has also updated its full-year sales, segment margin, adjusted earnings per share, and cash flow guidance.

• Sales of $9.7 billion, reported sales up 6%, organic sales up 3%.
• Operating Margin of 19.1% and Segment Margin of 23.6%, above high end of previous guidance.

KKR's Third quarter 2024 was strong, with adjusted net income increasing by more than 50% year-over-year. The company achieved record Fee Related Earnings and Total Operating Earnings, driven by high activity levels across the firm.

• Fee Related Earnings (FRE) reached $1.0 billion, up 79% year-over-year.
• Total Operating Earnings (TOE) amounted to $1.3 billion, a 71% increase year-over-year.

UPS announced Q3 2024 consolidated revenues of $22.2 billion, a 5.6% increase from Q3 2023. Diluted EPS was $1.80, and non-GAAP adjusted diluted EPS was $1.76, a 12.1% increase year-over-year. The company updates its 2024 financial guidance.

• Consolidated revenues reached $22.2 billion, a 5.6% increase compared to last year.
• Consolidated operating margin was 8.9%.

Capital One's third quarter 2024 net income was $1.8 billion, or $4.41 per diluted common share. Total net revenue increased 5% to $10.0 billion. The quarter included adjusting items for Discover integration expenses and FDIC special assessment.

• Net income for the third quarter of 2024 was $1.8 billion, or $4.41 per diluted common share.
• Adjusted net income for the third quarter of 2024 was $4.51 per diluted common share.

Northrop Grumman reported a 2% increase in sales to $10.0 billion for Q3 2024 compared to $9.8 billion in Q3 2023. Net earnings increased to $1.0 billion, or $7.00 per diluted share, from $937 million, or $6.18 per diluted share, in the same period last year. The company also raised its 2024 segment operating income and MTM-adjusted EPS guidance.

• Net awards totaled $11.7 billion, leading to a record backlog of $85 billion.
• Q3 sales reached $10.0 billion, with year-to-date sales up by 6 percent.

Carrier's Q3 2024 results showed a 21% increase in sales to $6.0 billion, with organic sales up by 4%. GAAP EPS from continuing operations was $0.62, while adjusted EPS from continuing operations reached $0.77. The company has updated its full-year guidance to reflect discontinued operations.

• Net sales of $6.0 billion, up 21% versus third quarter 2023; organic sales up 4%.
• GAAP EPS from continuing operations of $0.62 and adjusted EPS from continuing operations of $0.77.

Digital Realty reported a 5% increase in revenue from the previous quarter, reaching $1.4 billion. The company signed total bookings expected to generate $521 million in annualized GAAP rental revenue, and the backlog of signed-but-not-commenced leases increased to $859 million.

• Net income available to common stockholders was $0.09 per share.
• FFO per share was $1.55.

Nasdaq reported Q3 2024 net revenue of $1.1 billion, a 22% increase year-over-year, with Solutions revenue up 26%. The company's GAAP diluted EPS decreased by 11%, while non-GAAP diluted EPS increased by 5%. Nasdaq returned $138 million to shareholders through dividends and $88 million through share repurchases.

• Net revenue increased by 22% year-over-year, reaching $1.1 billion.
• Solutions revenue grew by 26% compared to the prior year period.

CBRE Group, Inc. reported strong financial results for the third quarter of 2024, with GAAP EPS up 20% to $0.73 and Core EPS up 67% to $1.20. Revenue increased by 15%, and net revenue rose by 20%. The company also raised its full-year Core EPS outlook.

• GAAP EPS increased by 20% to $0.73, while Core EPS surged by 67% to $1.20.
• Revenue grew by 15%, and net revenue increased by 20%.

Keurig Dr Pepper reported a net sales increase of 2.3% to $3.9 billion in Q3 2024. The company reaffirmed its fiscal 2024 guidance for constant currency net sales growth in a mid-single-digit range and adjusted diluted EPS growth in a high-single-digit range. They also announced the acquisition of GHOST.

• Net sales for the third quarter increased 2.3% to $3.9 billion.
• On a constant currency basis, net sales advanced 3.1%, driven by volume/mix growth of 3.5%, partially offset by modestly unfavorable net price realization of 0.4%.

L3Harris Technologies reported a strong third quarter with revenue of $5.3 billion, up 8% from the previous year, and diluted EPS of $2.10, a 4% increase. The company's book-to-bill ratio was outstanding at 1.4x, with solid organic growth and improving margins. Due to impressive progress on the LHX NeXt initiative, the company is updating its 2024 savings target to at least $600 million and now expects to reach the overall target of $1 billion a year early.

• Orders of $7.2 billion; book-to-bill of 1.4x
• Revenue of $5.3 billion, up 8%, and 5% organically

Edwards Lifesciences reported a 9% increase in sales from continuing operations, with constant currency sales growth of 10%. TAVR sales grew by 6%, while TMTT sales saw a significant increase of 73%. The company completed the sale of its Critical Care business and reiterated its full-year sales guidance.

• Q3 sales from continuing operations grew 9%; constant currency sales grew 10%.
• Q3 TAVR sales grew 6%; constant currency sales grew 7%.

ResMed reported an 11% increase in revenue, a 34% increase in operating profit, and a non-GAAP operating profit increase of 27%. The company's focus on operational excellence led to margin expansion. They are celebrating 35 years of growth and innovation, with a newly launched 2030 strategy to transform sleep health, breathing health, and healthcare technology at home.

• Revenue increased by 11% to $1.2 billion.
• Gross margin improved to 58.6%, with non-GAAP gross margin at 59.2%.

Dexcom's Q3 2024 revenue grew by 2% year-over-year to $994.2 million. The company launched Stelo, a new biosensor for adults with prediabetes and type 2 diabetes, and advanced its international product portfolio with Dexcom G7 and Dexcom ONE+ launches. The company is reiterating its fiscal year 2024 revenue guidance of approximately $4.00 - 4.05 billion.

• Revenue grew 2% year-over-year to $994.2 million.
• U.S. revenue declined 2%, while international revenue grew 12%.

The Hartford reported a strong third quarter in 2024, with net income available to common stockholders increasing by 18% to $761 million, or $2.56 per diluted share. Core earnings also rose by 6% to $752 million, or $2.53 per diluted share. The company benefited from growth in written premiums, higher net investment income, and improvements in the P&C current accident year loss ratio. The company returned $538 million to stockholders through share repurchases and dividends and increased the quarterly common dividend per share by 11%.

• Net income available to common stockholders increased 18% to $761 million, or $2.56 per diluted share.
• Core earnings increased 6% to $752 million, or $2.53 per diluted share.

Deckers Brands reported a strong second quarter in fiscal year 2025, with revenue increasing by 20% to $1.31 billion and diluted EPS increasing by 39% to $1.59. The company has raised its full-year revenue guidance to approximately $4.8 billion and diluted EPS guidance to a range of $5.15 to $5.25.

• Revenue increased by 20% to $1.31 billion.
• Diluted EPS increased by 39% to $1.59.

Tractor Supply Company reported a 1.6% increase in net sales to $3.47 billion for the third quarter of 2024. Comparable store sales decreased slightly by 0.2%. Diluted earnings per share were $2.24. The company updated its fiscal year 2024 financial outlook, raising the lower end of its annual guidance for sales and earnings.

• Net sales increased by 1.6% to $3.47 billion.
• Comparable store sales decreased by 0.2%.

Dow reported a 1% increase in net sales year-over-year, reaching $10.9 billion, driven by growth in the U.S. & Canada. Operating EPS was $0.47, slightly below the previous year's $0.48. The company managed an unplanned cracker outage in Texas and optimized its global asset footprint, while focusing on high-return investments.

• Net sales increased by 1% year-over-year to $10.9 billion, driven by higher sales in the U.S. & Canada.
• Operating EPS was $0.47, compared to $0.48 in the year-ago period, excluding significant items of $0.17 per share.

Dover reported a 1% increase in revenue to $2.0 billion for Q3 2024. GAAP earnings from continuing operations increased by 19% to $313 million, with GAAP diluted EPS up 22% to $2.26. Adjusted earnings from continuing operations increased by 4% to $314 million, and adjusted diluted EPS increased by 6% to $2.27.

• Top line performance was broad-based across the majority of the portfolio.
• Consolidated bookings continued their positive trajectory, with robust order rates in secular-growth-exposed markets.

DTE Energy reported third quarter earnings of $477 million, or $2.30 per diluted share, compared with $332 million, or $1.61 per diluted share in 2023. Operating earnings for the third quarter 2024 were $460 million, or $2.22 per diluted share, compared with 2023 operating earnings of $298 million, or $1.44 per diluted share.

• Continued investment in smart grid technology and new substations to improve electric reliability.
• Began construction of three new solar parks, funded by the company’s voluntary MIGreenPower program.

West Pharmaceutical Services reported a slight decrease in net sales for Q3 2024, with a marginal decline in organic net sales. Despite this, the company increased its full-year net sales and adjusted EPS guidance, citing favorable currency movements. The Board of Directors also approved a fourth-quarter dividend increase.

• Net sales declined slightly by 0.1% to $746.9 million, with a 0.5% decrease in organic net sales.
• Reported and adjusted diluted EPS were $1.85, compared to $2.14 and $2.16 respectively in the same period last year.

Weyerhaeuser reported third quarter net earnings of $28 million, or 4 cents per diluted share, on net sales of $1.7 billion. Adjusted EBITDA for third quarter 2024 was $236 million.

• Generated net earnings of $28 million, or $0.04 per diluted share, and net earnings before special items of $35 million, or $0.05 per diluted share
• Achieved Adjusted EBITDA of $236 million

Western Digital reported a revenue of $4.10 billion for the fiscal first quarter 2025, a 9% sequential increase. GAAP EPS was $1.35, and Non-GAAP EPS was $1.78. The company expects fiscal second quarter 2025 revenue to be in the range of $4.20 billion to $4.40 billion and Non-GAAP EPS in the range of $1.75 to $2.05.

• First quarter revenue was $4.10 billion, up 9% sequentially (QoQ).
• Cloud revenue increased 17% (QoQ).

Cincinnati Financial Corporation reported a strong third quarter with a significant increase in net income driven by gains in the fair value of equity securities. The company's book value per share reached a record high, and the value creation ratio for the first nine months of the year exceeded the company's target range.

• Third-quarter net income was $820 million, or $5.20 per share, compared to a net loss of $99 million, or $0.63 per share, in the third quarter of 2023.
• Third-quarter non-GAAP operating income was $224 million, or $1.42 per share, compared to $261 million, or $1.66 per share, in the third quarter of last year.

Labcorp announced its Q3 2024 results, showcasing strong performance in Diagnostics and Biopharma Laboratories. Revenue increased to $3.28 billion, and adjusted EPS reached $3.50. The company also updated its full-year guidance, reflecting confidence in continued growth.

• Revenue reached $3.28 billion, a 7.4% increase compared to the previous year.
• Diluted EPS was reported at $2.00, while adjusted EPS stood at $3.50.

Verisign reported Q3 2024 results with revenue of $391 million, a 3.8% increase from Q3 2023. Operating income rose to $269 million, and net income reached $201 million, with EPS at $2.07.

• Revenue increased by 3.8% compared to the same quarter in 2023, reaching $391 million.
• Operating income increased to $269 million, up from $254 million in the same quarter of the previous year.

SS&C Technologies reported a 7.3% increase in both GAAP and adjusted revenue, reaching $1,465.8 million and $1,466.8 million respectively. The company's adjusted EPS increased by 10.3% to $1.29, and GAAP EPS increased by 6.6% to $0.65.

• GAAP Revenue and Adjusted Revenue grew by 7.3 percent.
• Adjusted Organic Revenue Growth was 6.4 percent, and Financial Services Recurring Revenue Growth was 7.2 percent.

Carlisle Companies reported a record third quarter with diluted EPS of $5.30 and adjusted EPS of $5.78, a 24% year-over-year increase. Revenue reached $1.3 billion, up 6% year-over-year. The company saw an operating margin of 23.7% and a record adjusted EBITDA margin of 27.6%, up 60 bps year-over-year. CCM's revenue grew by 9% with an adjusted EBITDA margin expansion of 110 bps, reaching a record 32.8%. Carlisle repurchased 1.1 million shares for $466 million and increased its quarterly dividend by 18%. They also signed an agreement to acquire Plasti-Fab.

• Record third quarter diluted EPS of $5.30 and adjusted EPS of $5.78, up 24% year-over-year.
• Revenue of $1.3 billion, an increase of 6% year-over-year.

Reliance, Inc. reported Q3 2024 financial results with net sales of $3.42 billion. Tons sold increased by 7.1% compared to Q3 2023. The company achieved an EPS of $3.61 and a non-GAAP EPS of $3.64. Cash flow from operations was $463.9 million. The company completed the acquisition of FerrouSouth toll processing assets on August 16, 2024.

• Net sales reached $3.42 billion, with a 7.1% increase in tons sold compared to Q3 2023.
• Gross profit margin stood at 29.4%.

Healthpeak Properties reported a net income of $0.12 per share, Nareit FFO of $0.44 per share, FFO as Adjusted of $0.45 per share, and AFFO of $0.41 per share for the third quarter of 2024. The company also saw a Total Merger-Combined Same-Store Cash (Adjusted) NOI growth of 4.1%.

• Net income of $0.12 per share, Nareit FFO of $0.44 per share, FFO as Adjusted of $0.45 per share, AFFO of $0.41 per share, and Total Merger-Combined Same-Store Cash (Adjusted) NOI growth of 4.1%
• Increased the midpoint of both 2024 FFO as Adjusted and AFFO guidance by +$0.01 per share, and increased Total Merger-Combined Same-Store Cash (Adjusted) NOI growth guidance by +50 basis points at the midpoint

Textron reported EPS of $1.18 and adjusted EPS of $1.40 for Q3 2024. The results were impacted by a strike at Textron Aviation, which lowered revenues by approximately $50 million and segment profit by approximately $30 million. Bell achieved a key milestone on the FLRAA program.

• EPS was $1.18; adjusted EPS was $1.40, down from $1.49 in the prior year.
• Net cash from operating activities was $208 million.

Comfort Systems USA reported a strong third quarter with record earnings and cash flow. Revenue increased to $1.81 billion, and net income reached $146.2 million, or $4.09 per diluted share. The backlog remains high, and the company anticipates continued strong results.

• Net income for the quarter was $146.2 million, or $4.09 per diluted share, compared to $105.1 million, or $2.93 per diluted share, for the same quarter last year.
• Revenue for the third quarter of 2024 reached $1.81 billion, up from $1.38 billion in 2023.

Pool Corporation reported Q3 2024 net sales of $1.4 billion, a 3% decrease compared to Q3 2023. The company's performance was supported by steady demand for maintenance products, while discretionary portions of the business experienced pressure. Diluted EPS was reported at $3.27, or $3.26 without tax benefits. The company maintains its annual earnings guidance range of $11.06 - $11.46 per diluted share.

• Net sales reached $1.4 billion, a 3% decrease year-over-year.
• Gross margin remained consistent at 29.1%.

Gaming and Leisure Properties reported strong third-quarter results, with total revenue increasing by 7.1% year-over-year to $385.3 million and AFFO growing by 6.8%. The company's expansion and growth momentum continue, supported by the addition of new tenants and strategic transactions, including those with Bally's. GLPI remains confident in its ability to deliver strong capital returns and yields for shareholders, as reflected in the increased third-quarter dividend of $0.76 per share.

• Total revenue rose 7.1% year-over-year to $385.3 million.
• AFFO grew 6.8%, highlighting the growth of the property portfolio and rent escalations.

Universal Health Services, Inc. reported strong Q3 2024 results, with net revenues increasing by 11.2% to $3.963 billion and net income attributable to UHS reaching $258.7 million, or $3.80 per diluted share, compared to $167.0 million, or $2.40 per diluted share, in Q3 2023. Adjusted net income was $252.5 million, or $3.71 per diluted share. EBITDA net of NCI was $528.6 million, representing 13.3% of net revenues.

• Net revenues increased by 11.2% to $3.963 billion compared to Q3 2023.
• Net income attributable to UHS was $258.7 million, or $3.80 per diluted share.

Texas Roadhouse, Inc. announced financial results for the third quarter of 2024, with total revenue increasing by 13.5% to $1,272.999 million and diluted earnings per share rising by 32.5% to $1.26. The company experienced comparable restaurant sales growth at both company and franchise restaurants, contributing to a higher restaurant margin. Looking ahead to 2025, the company plans to acquire 13 domestic franchise restaurants.

• Comparable restaurant sales increased 8.5% at company restaurants and 7.2% at domestic franchise restaurants.
• Average weekly sales at company restaurants were $149,176, with $18,914 from to-go sales.

Ally Financial reported GAAP EPS of $1.06 and Adjusted EPS of $0.95 for Q3 2024. The company saw growth in insurance written premiums and continued retail deposit customer growth. However, the company faced challenges including higher retail auto net charge-offs.

• GAAP EPS reached $1.06, and Adjusted EPS was $0.95, showing year-over-year increases.
• Consumer auto originations amounted to $9.4 billion.

Allegion reported a strong third quarter with revenue growth of 5.4% and an increase in adjusted EPS of 11.3%. The company is raising its full-year guidance for adjusted EPS and affirming its total revenue and available cash flow outlook.

• Net earnings per share (EPS) of $1.99, up 12.4% compared with $1.77; Adjusted EPS of $2.16, up 11.3% compared with $1.94
• Revenues of $967.1 million, up 5.4% on a reported basis and up 3.3% on an organic basis

Skechers announced record-breaking quarterly sales of $2.35 billion, a 15.9% increase year-over-year. Diluted earnings per share increased by 35.5% to $1.26. The company's wholesale and direct-to-consumer segments grew by 20.6% and 9.6%, respectively.

• Record quarterly sales of $2.35 billion, a 15.9% increase.
• Wholesale sales grew 20.6%.

American Airlines reported a record third-quarter revenue of $13.6 billion, a net loss of $149 million, and ended the quarter with $11.8 billion in total available liquidity. The airline is on track to reduce total debt from peak levels by $15 billion by year-end 2025 and expects full-year adjusted earnings per diluted share to be between $1.35 and $1.60.

• Achieved record third-quarter revenue of $13.6 billion.
• Reported a third-quarter net loss of $149 million, or ($0.23) per share.

AptarGroup's Q3 2024 results showed a 2% increase in both reported and core sales, driven by the Pharma and Closures segments. Net income increased by 19% to $100 million, and adjusted EPS rose by 6% to $1.49.

• Reported and core sales increased by 2%.
• Reported EPS increased 17% to $1.48, and adjusted EPS increased 6% to $1.49.

LKQ Corporation reported a revenue increase of 0.5% to $3.6 billion in Q3 2024. Diluted EPS was $0.73, while adjusted diluted EPS reached $0.88. The company generated $420 million in operating cash flow and $341 million in free cash flow. LKQ repurchased $125 million of its shares and increased the stock repurchase program by $1 billion.

• Revenue increased by 0.5% to $3.6 billion compared to Q3 2023.
• Diluted EPS was $0.73, and adjusted diluted EPS was $0.88.

Carpenter Technology reported a record first quarter with profits up 70% year-over-year. The company generated $13.3 million in adjusted free cash flow and executed $32.1 million in share repurchases. They are guiding to the high end of the $460 million to $500 million range for FY25.

• Record first quarter profits up 70% year-over-year
• SAO beat guidance with expanding operating margins

Applied Industrial Technologies reported a slight increase in net sales, a decrease in net income, and an increase in free cash flow for the first quarter of fiscal year 2025. The company is increasing its FY25 EPS guidance while maintaining sales and EBITDA margin guidance.

• Net sales increased by 0.3% year-over-year to $1.1 billion.
• Net income decreased by 1.0% year-over-year to $92.1 million, or $2.36 per share.

AppFolio reported a strong Q3 2024 with a 24% increase in revenue year-over-year, reaching $206 million. Operating income also saw significant growth, and the company acquired LiveEasy to expand its resident services.

• Revenue increased by 24% year-over-year, reaching $206 million.
• Total units under management grew by 9% year-over-year to 8.5 million.

Hasbro reported a 15% decrease in revenue, or 9% excluding the eOne divestiture, but demonstrated strength in its gaming and licensing businesses. The company's operating profit was $302 million, with an adjusted operating profit of $329 million. Hasbro is on track to meet its full-year net cost savings commitment and maintains its full year EBITDA guidance.

• Revenue declined by 15%, or 9% excluding the eOne divestiture.
• Operating profit was $302 million, including costs for intangible amortization and transformation.

Mohawk Industries reported Q3 2024 net sales of $2.7 billion, a decrease of 1.7% as reported and 2.1% on an adjusted basis versus the prior year. Net earnings were $162 million, with EPS of $2.55; adjusted net earnings were $184 million, and adjusted EPS was $2.90. The company generated free cash flow of $204 million in the quarter.

• Delivered solid performance in soft market conditions, driven by sales initiatives, productivity, and restructuring actions.
• Generated free cash flow of $204 million due to increased earnings and working capital management.

The Ensign Group reported strong third quarter results with GAAP diluted earnings per share of $1.34 and adjusted earnings per share of $1.39. Consolidated GAAP and adjusted revenue for the quarter were both $1.08 billion, an increase of 15.0% over the prior year quarter. The company raised its annual earnings guidance to between $5.46 to $5.52 per diluted share and revenue guidance to between $4.25 billion to $4.26 billion.

• GAAP net income increased by 22.8% over the prior year quarter.
• Same Facilities occupancy increased by 2.8% over the prior year quarter.

WEX Inc. reported a 2% year-over-year increase in revenue, reaching a record $665 million for the third quarter of 2024. GAAP net income increased to $102.9 million, or $2.52 per diluted share, while adjusted net income was $177.5 million, or $4.35 per diluted share. The company spent $370 million on share repurchases during the quarter.

• Revenue increased by 2% year-over-year to a record $665 million, driven by growth in the Benefits and Mobility segments.
• GAAP net income increased to $102.9 million, or $2.52 per diluted share.

SPS Commerce reported revenue of $163.7 million, a 21% increase year-over-year. Net income was $23.5 million, or $0.62 per diluted share, while non-GAAP income per diluted share was $0.92.

• Revenue reached $163.7 million, reflecting 21% growth compared to Q3 2023.
• Recurring revenue also grew by 21% year-over-year.

FTI Consulting reported weaker than expected Q3 2024 earnings, with revenue growth of 3.7% year-over-year. The company faced market challenges in Asia and internal delays in North American FLC and strategy businesses. Revenue and EPS guidance for the full year were updated.

• Year-on-year revenue growth was 3.7%, lower than recent quarters and expectations.
• Revenue pressure was attributed to market causes, such as challenges in Asia, and internal factors like delays in North American FLC and slowness in the strategy business.

ADT reported a 5% increase in total revenue to $1.2 billion and a 2% increase in end-of-period recurring monthly revenue (RMR) to $359 million. GAAP income from continuing operations increased by 7% to $132 million, and adjusted EBITDA increased by 6% to $659 million. The company is on track to achieve its full-year 2024 guidance metrics.

• Total revenue increased by 5% to $1.2 billion.
• End-of-period recurring monthly revenue (RMR) increased 2% to $359 million.

Ryder System reported a solid third quarter, driven by earnings growth in contractual lease, dedicated, and supply chain businesses. The company's ROE of 16% demonstrates the resilience of its transformed business model. While market conditions in used vehicle sales and rental remained weak, Ryder delivered comparable EPS in line with its forecast.

• GAAP EPS from continuing operations was $3.25, compared to $3.44 in the prior year.
• Comparable EPS (non-GAAP) from continuing operations was $3.44, compared to $3.58 in the prior year.

Boyd Gaming reported a revenue increase to $961.2 million, up from $903.2 million in Q3 2023. Net income was $131.1 million, or $1.43 per share, compared to $135.2 million, or $1.34 per share, in the previous year. Adjusted EBITDAR increased to $336.6 million from $320.8 million in the same period last year. Adjusted earnings were $139.3 million, or $1.52 per share, compared to $137.3 million, or $1.36 per share, for the same period in 2023.

• Underlying customer trends remained stable.
• Realized benefits from investments in Downtown Las Vegas and Midwest & South segments.

Life Time reported a strong Q3 2024 with an 18.5% increase in total revenue to $693.2 million and a 422.5% increase in net income to $41.4 million. The company deleveraged to under 2.5 times and delivered positive free cash flow before sale-leaseback proceeds. With the completion of an equity offering and debt refinancing, Life Time is well-positioned for future growth.

• Total revenue increased by 18.5% year-over-year to $693.2 million, driven by growth in membership dues and in-center revenue.
• Net income surged by 422.5% year-over-year to $41.4 million, reflecting improved business performance.

Columbia Banking System reported a net income of $146 million and operating net income of $143 million for the third quarter of 2024. The company's results reflect a 25% reduction in costs over the past 18 months and solid core deposit growth.

• Net interest income increased by $3 million from the prior quarter.
• Non-interest income increased by $21 million due to fluctuations in cumulative fair value accounting and hedges.

Valley National Bancorp reported a net income of $97.9 million for Q3 2024, or $0.18 per diluted common share. The results reflect progress in achieving strategic balance sheet goals, with improvements in net interest income and non-interest income. The company also entered into an agreement to sell performing commercial real estate loans expected to total over $800 million.

• Net income for the third quarter 2024 was $97.9 million, or $0.18 per diluted common share.
• Net interest income on a tax equivalent basis increased to $411.8 million.

NOV Inc. reported third quarter 2024 revenues of $2.19 billion, a slight increase compared to the third quarter of 2023. Net income increased 14 percent to $130 million, or $0.33 per share, and adjusted EBITDA increased seven percent year-over-year to $286 million.

• Net Income of $130 million, or $0.33 per share, up $16 million, or $0.04 per share, year-over-year
• Adjusted EBITDA of $286 million, an increase of $19 million year-over-year

Glacier Bancorp reported a net income of $51.1 million and diluted earnings per share of $0.45 for the current quarter. The company experienced growth in earnings, margin, and deposits, and finalized the acquisition of the Rocky Mountain Bank Montana branches.

• Diluted earnings per share increased to $0.45, a 15% rise from the prior quarter.
• Net income reached $51.1 million, up 14% from the previous quarter.

United Bankshares reported earnings of $95.3 million, or $0.70 per diluted share, for the third quarter of 2024. The company's profitability metrics remained strong, growth trends continued upward, and expenses were well-controlled. Asset quality, liquidity, and capital levels also remain a source of strength.

• Earnings for Q3 2024 were $95.3 million, or $0.70 per diluted share.
• Annualized return on average assets was 1.28%.

Cousins Properties reported a net income of $11.2 million and FFO of $102.3 million. They leased 763,000 square feet, the highest quarterly volume since 2019. The company also completed an unsecured bond issuance and made accretive new investments.

• Leased 763,000 square feet of office space, the highest quarterly volume since 2019.
• Same property net operating income (NOI) on a cash-basis increased 4.4%.

Alkermes reported third-quarter revenues of $378.1 million, with net sales of proprietary products increasing approximately 18% year-over-year. GAAP net income from continuing operations was $92.8 million, with diluted GAAP earnings per share from continuing operations of $0.56. The company reiterated its 2024 financial expectations.

• Third quarter revenues reached $378.1 million.
• Net sales of proprietary products increased approximately 18% year-over-year.

FirstCash Holdings, Inc. reported record third-quarter revenue of $837 million, a 6% increase year-over-year, and record earnings. The U.S. pawn segment showed double-digit growth in same-store pawn receivables, and AFF saw a 14% increase in gross origination volumes. The company added 16 new pawn stores in Q3 and declared a quarterly cash dividend of $0.38 per share.

• Achieved record revenue and earnings for the third quarter and year-to-date periods.
• U.S. pawn segment experienced a fifth consecutive quarter of double-digit growth in same-store pawn receivables.

Integer Holdings Corporation announced its Third Quarter 2024 results, showcasing a 10% sales growth and a 23% increase in adjusted operating income year to date. The company is raising the midpoint of its full year adjusted operating income outlook by $4 million. The divestiture of Electrochem is expected to close later this month, transforming Integer into a pure-play medical technology company.

• Integer delivered 10% sales growth year to date.
• Adjusted operating income increased by 23% year to date.

Exponent reported a 2% increase in total revenues to $136.3 million for Q3 2024. Net income rose to $26.0 million, or $0.50 per diluted share. The company's EBITDA margin expanded by 100 basis points.

• Total revenues increased by 2% to $136.3 million compared to Q3 2023.
• Net income increased to $26.0 million, or $0.50 per diluted share.

Ameris Bancorp reported a strong third quarter in 2024, with net income of $99.2 million, or $1.44 per diluted share. The company experienced growth in tangible book value, core deposit growth, and reduced GNMA nonaccrual exposure.

• Net income was $99.2 million, or $1.44 per diluted share.
• Adjusted net income was $95.2 million, or $1.38 per diluted share.

Associated Banc-Corp reported a solid third quarter in 2024, driven by loan and deposit growth, margin expansion, and strong credit performance. The company's net income available to common equity was $85 million, or $0.56 per common share.

• Diluted earnings per common share were $0.56.
• Total period end core customer deposit growth was $618 million.

Simply Good Foods reported a 17.2% increase in net sales to $375.7 million for the fourth quarter, driven by the OWYN acquisition and legacy net sales growth. Adjusted EPS increased to $0.50, while net income was $29.3 million. The company provided a full fiscal year 2025 outlook, anticipating net sales growth of 8.5% to 10.5% and Adjusted EBITDA growth of 4% to 6%.

• Net sales increased by 17.2% to $375.7 million, with OWYN contributing 9.1 percentage points to growth.
• Legacy net sales increased by 8.1%, including a 7.7 percentage point benefit from the extra week.

Harley-Davidson reported a decrease in consolidated revenue and operating income for Q3 2024, driven by lower motorcycle shipments and global retail sales. While HDFS saw revenue and operating income growth, HDMC experienced declines in revenue and gross margin. The company is lowering its full-year 2024 financial outlook.

• Diluted EPS was reported at $0.91.
• Consolidated operating income decreased by 49% year-over-year to $106 million.

Tri Pointe Homes reported a strong third quarter in 2024, marked by a 32% increase in home deliveries, a 2% rise in average sales price, and a 35% growth in home sales revenue. The company expanded gross margins by 100 basis points and achieved diluted earnings per share of $1.18, representing a 55% increase compared to the previous year.

• Achieved a 32% increase in home deliveries, totaling 1,619 homes.
• Increased home sales revenue by 35% to $1.1 billion.

Virtu Financial, Inc. reported its Q3 2024 results, with total revenues increasing by 12.2% to $706.8 million, and trading income, net, increasing by 40.5% to $444.0 million compared to the same period in 2023. Net income was $119.0 million, and Normalized Adjusted EPS was $0.82.

• Net income was $119.0 million; Normalized Adjusted Net Income was $132.1 million.
• Basic and diluted earnings per share were $0.65 and $0.64, respectively; Normalized Adjusted EPS was $0.82.

OSI Systems announced strong Q1 FY25 results, with a 23% increase in revenue to $344.0 million and net income of $17.9 million, or $1.05 per diluted share. The company's backlog reached approximately $1.8 billion. The Security division saw significant growth, and the company increased its fiscal 2025 revenue and non-GAAP adjusted diluted earnings per share guidance.

• Q1 FY25 revenues increased by 23% year-over-year to $344.0 million.
• Net income for Q1 FY25 was $17.9 million, or $1.05 per diluted share.

WSFS Financial Corporation announced its Q3 2024 financial results, with a core Return on Average Assets (ROA) of 1.22% and Earnings Per Share (EPS) of $1.08. The results reflect continued growth in loans, deposits, and fee revenue. Gross loan growth was reported at 1% (5% annualized), driven by commercial, consumer, and residential mortgage portfolios. Customer deposits increased by 1% (3% annualized), primarily due to seasonal municipal deposit inflows.

• Core ROA was 1.22%, compared to 1.25% for 2Q 2024.
• Core EPS was $1.08, flat from 2Q 2024.

Bread Financial reported a net income of $2 million, or $0.05 per diluted share, and an adjusted net income of $93 million, or $1.83 per diluted share, which excludes the $91 million post-tax impact from the repurchased convertible notes. The company's revenue was $983 million, a decrease of 5% year-over-year, and the common equity tier 1 capital ratio increased 40 basis points to 13.3%.

• Repurchased $262 million in principal amount of convertible notes, impacting pre-tax results by $96 million.
• Average loans increased 1%, benefiting from new partner growth and stabilizing consumer spend.

Federated Hermes reported a strong Q3 2024, achieving record assets under management of $800.5 billion, driven by inflows into money market and fixed-income products, along with market appreciation. Earnings per diluted share increased to $1.06, and the board declared a dividend of $0.31 per share and authorized a new share repurchase program.

• Total assets under management reached a record $800.5 billion.
• Money market assets reached a record $593.0 billion.

McGrath RentCorp reported a 10% increase in total revenues, reaching $266.8 million for Q3 2024. Net income from continuing operations was $149.3 million, or $6.08 per diluted share, which included a $103.5 million net income contribution from a merger termination payment. Excluding this payment, net income was $45.9 million, or $1.87 per diluted share.

• Total revenues increased by 10% to $266.8 million, driven by higher rental operations and sales revenues.
• Net income included a $103.5 million contribution from a merger termination payment.

Boston Beer reported a 0.6% increase in net revenue to $605.5 million. GAAP diluted earnings per share was $2.86, including a non-cash brand impairment charge of $2.49 per share. Non-GAAP diluted earnings per share was $5.35. Depletions decreased by 3% and shipments decreased by 1.9%.

• Net revenue increased 0.6% to $605.5 million.
• GAAP diluted earnings per share was $2.86, including a non-cash brand impairment charge of $2.49 per share.

First Financial Bancorp reported a net income of $52.5 million, or $0.55 per diluted common share, for the three months ended September 30, 2024, with adjusted earnings per share at $0.67.

• Earnings per diluted share of $0.55; $0.67 on an adjusted basis.
• Return on average assets of 1.17%; 1.42% on an adjusted basis.

The Bancorp reported a net income of $51.5 million for the third quarter of 2024, driven by growth in Fintech Solutions. The company issued preliminary EPS guidance of $5.25 for 2025.

• Net income for Q3 2024 was $51.5 million.
• Real estate bridge loans classified as special mention and substandard amounted to $84.4 million and $155.4 million, respectively.

Pacific Premier Bancorp reported a net income of $36.0 million, or $0.37 per diluted share, for Q3 2024. The company's asset quality remained strong, with total delinquencies at 0.08% and non-performing assets at 0.22% of total assets. The bank focused on capital accumulation and reduced higher-cost funding sources.

• Net income reached $36.0 million, with diluted earnings per share at $0.37.
• Total assets amounted to $17.91 billion.

Sonic Automotive reported a decrease in total revenues by 4% year-over-year, with a total of $3.5 billion. Net income increased by 8% year-over-year to $74.2 million. The EchoPark segment achieved record quarterly gross profit, segment income, and adjusted EBITDA.

• Total revenues were $3.5 billion, a 4% decrease year-over-year.
• Net income was $74.2 million, an 8% increase year-over-year.

Minerals Technologies Inc. announced record third-quarter results, with earnings per share of $1.45 ($1.51 excluding special items). The company's operating income, excluding special items, was $79 million, up 3% year-over-year, representing 15.1% of sales. A new $200 million share repurchase program was authorized, and the dividend was increased by 10%.

• Record third quarter operating income and earnings per share excluding special items were achieved.
• Operating margin and cash flow remained strong.

First Merchants Corporation reported a net income available to common stockholders of $48.7 million, with diluted earnings per common share of $0.84 for the third quarter of 2024. Excluding the loss from repositioning of available for sale securities portfolio, adjusted net income was $55.6 million, or $0.95 per share. Total assets reached $18.3 billion, and loans totaled $12.7 billion.

• Net income available to common stockholders was $48.7 million, and diluted earnings per common share totaled $0.84.
• Common Equity Tier 1 Capital Ratio of 11.25% and Tangible Common Equity to Tangible Assets Ratio of 8.76%.

Visteon reported solid net sales of $980 million with 6% growth-over-market. Net income was $39 million, and adjusted EBITDA reached $119 million. The company launched 30 new products and secured $4.9 billion in new business year-to-date, ending the quarter with a net cash position of $229 million.

• Sales of $980 million with Growth-over-Market of 6%.
• Net income of $39 million and adjusted net income of $63 million.

Seacoast Banking Corporation of Florida reported net income of $30.7 million for the third quarter of 2024, with diluted earnings per share of $0.36. The company achieved nearly 7% annualized loan growth and 7% annualized customer deposit growth, demonstrating a turn in organic growth. Pre-tax pre-provision earnings increased by 3% quarter-over-quarter, and the balance sheet remained strong with a Tier 1 capital ratio of 14.8% and a tangible common equity to tangible assets ratio of 9.64%.

• The company achieved nearly 7% annualized loan growth and 7% annualized customer deposit growth, clearly showcasing the results of previous investments in banking teams across the state.
• Tangible book value per share increased 20% annualized from the prior quarter to $16.20 as of September 30, 2024.

Garrett Motion's Q3 2024 net sales totaled $826 million, a 14% decrease year-over-year. Net income was $52 million with a margin of 6.3%. Adjusted EBITDA was $144 million, representing a 17.4% margin. The company generated $71 million in adjusted free cash flow and continued share repurchases.

• Net sales totaled $826 million, down 14% on a reported and constant currency basis.
• Net income totaled $52 million, with a net income margin of 6.3%.

Rogers Corporation reported mixed Q3 2024 results with earnings exceeding expectations due to operational improvements and careful expense management, while sales were below outlook due to softer EV/HEV demand and a lower seasonal peak in portable electronics sales. The company continues to execute its focused strategy, including the opening of a new power substrate factory in China.

• Net sales decreased by 1.8% versus the prior quarter, driven by lower sales in AES and EMS business units.
• Gross margin increased to 35.2% from 34.1% in the prior quarter, primarily from favorable product mix.

City Holding Company reported a quarterly net income of $29.8 million and diluted earnings of $2.02 per share for the quarter ended September 30, 2024. The company achieved a return on assets of 1.87% and a return on tangible equity of 20.9%. Net interest income increased by $1.0 million, or 1.8%, from the previous quarter.

• Net income was $29.8 million, with diluted earnings per share of $2.02.
• Return on assets reached 1.87%, and return on tangible equity was 20.9%.

Knowles Corporation reported strong Q3 2024 results, with revenues from continuing operations increasing by 32% year-over-year to $143 million, and net cash from operations of $53 million, exceeding the high end of the guided range. The company also signed a definitive agreement to sell the Consumer MEMS Microphones business, furthering its strategic transition to higher value markets.

• Revenues from continuing operations increased 32% year-over-year to $143 million.
• Net cash from operations was $53 million, exceeding the high end of the guided range.

World Kinect Corporation reported a revenue of $10.5 billion, a decrease of 14%. Net income was $33.5 million, a decrease of 4%. Adjusted EBITDA was $100.1 million, a decrease of 1%. The company repurchased $28 million of shares during the quarter.

• Revenue decreased by 14% to $10.5 billion.
• Gross profit decreased by 5% to $268.1 million.

Expro Group Holdings N.V. reported revenue of $423 million, a 14% increase year-over-year, and a net income of $16 million for Q3 2024. The company is refining its full-year 2024 guidance to $1.72 to $1.75 billion in revenue and $335 to $350 million in Adjusted EBITDA.

• Revenue reached $423 million, reflecting a 14% year-over-year increase.
• Net income stood at $16 million, compared to a net loss of $14 million in Q3 2023.

Tronox reported a 21% increase in revenue compared to the prior year, driven by higher volumes in TiO2, zircon, and other products. However, the company experienced a net loss of $25 million, or $0.16 per diluted share, and Adjusted EBITDA of $143 million, which was below previous guidance due to weaker demand and higher freight costs. The company anticipates lower TiO2 volumes in Q4 and expects Adjusted EBITDA to be between $120-135 million.

• Revenue increased by 21% year-over-year to $804 million, driven by higher volumes.
• Net loss was $25 million, or $0.16 per diluted share.

NETSCOUT reported Q2 fiscal year 2025 revenue of $191.1 million and GAAP net income of $9.0 million, or $0.13 per share (diluted). Non-GAAP net income was $33.6 million, or $0.47 per share (diluted). The company is focused on enhancing its cybersecurity offerings and managing costs.

• Q2 fiscal year 2025 revenue was $191.1 million.
• GAAP net income for the second quarter of fiscal year 2025 was $9.0 million, or $0.13 per share (diluted).

Coursera reported a 6% increase in revenue to $176.1 million and a significant improvement in net income, moving from a net loss of $(32.1) million to a net loss of $(13.7) million. The company also demonstrated strong bottom-line performance, raising the midpoint of its full year 2024 EBITDA Margin outlook by 170 basis points to 5.4%.

• Total revenue increased by 6% year-over-year to $176.1 million.
• Net loss improved from $(32.1) million to $(13.7) million year-over-year.

Lindsay Corporation's Q4 2024 revenues decreased by 7% to $155.0 million compared to Q4 2023. Operating income decreased by 42% to $13.5 million, and net earnings decreased by 34% to $12.7 million, or $1.17 per diluted share. The decrease was primarily due to lower international irrigation revenues, partially offset by improved infrastructure results.

• North America irrigation revenues increased due to higher unit sales volume.
• Delivery began on a large irrigation project in the Middle East and North Africa (MENA) region.

TriCo Bancshares reported a net income of $29.1 million and diluted EPS of $0.88 for the third quarter of 2024. The company's financial performance demonstrates the effectiveness of adhering to a long-term plan and consistent execution by its teams.

• Net income was $29.1 million, with diluted EPS at $0.88, slightly improved from the previous quarter.
• Deposit balances saw a slight decrease from the trailing quarter but increased from the same quarter last year.

Ladder Capital Corp reported GAAP income before taxes of $28.5 million and diluted EPS of $0.22 for the quarter ended September 30, 2024. Distributable earnings were $37.7 million, or $0.30 of distributable EPS.

• GAAP income before taxes for the three months ended September 30, 2024 was $28.5 million.
• Diluted earnings per share (EPS) was $0.22.

RPC reported a decrease in revenues and net income compared to the previous quarter. Revenues decreased by 7% sequentially to $337.7 million, and net income decreased by 42% sequentially to $18.8 million. The results reflect lower utilization and pricing in pressure pumping.

• Revenues decreased 7% sequentially to $337.7 million.
• Net income was $18.8 million, down 42% sequentially, and diluted EPS was $0.09.

Berkshire Hills Bancorp reported a robust quarter with increased operating income driven by loan growth, improving credit quality and expense management. The company completed the sale of ten branch offices and saw growth in average deposit balances.

• GAAP income was $37.5 million, or $0.88 per share.
• Operating earnings totaled $24.8 million, or $0.58 per share.

Alexander & Baldwin reported a net income available to A&B common shareholders of $19.0 million, or $0.26 per diluted share, and Commercial Real Estate (CRE) operating profit of $22.8 million for the third quarter of 2024. The company also raised its 2024 guidance.

• Funds From Operations (FFO) reached $28.2 million, or $0.39 per diluted share, with Adjusted FFO at $23.4 million, or $0.32 per diluted share.
• CRE Same-Store Net Operating Income (NOI) grew by 4.1%, or 4.7% excluding collections of prior year reserves.

Byline Bancorp reported a net income of $30.3 million, with diluted earnings per share of $0.69 for the third quarter of 2024. The company's performance reflected strong momentum across the franchise, with net interest income expansion and solid deposit growth.

• Announced definitive merger agreement with First Security Bancorp, Inc.
• ROAA of 1.29% and PTPP ROAA of 2.02%

Universal Logistics Holdings reported a 1.3% increase in operating revenues, reaching $426.8 million, and a 16.0% increase in operating income to $42.6 million for the third quarter of 2024. Earnings per share increased by 14.7% to $1.01. The company's contract logistics segment delivered outstanding results, while the decision to close the company-managed brokerage operation presented challenges.

• Operating revenues increased by 1.3% to $426.8 million.
• Operating income increased by 16.0% to $42.6 million.

Piedmont Office Realty Trust reported a net loss of $11.5 million for Q3 2024, with Core FFO at $0.36 per diluted share. The company completed 461,000 square feet of leasing, bringing the portfolio to 88.8% leased. The company sold 750 West John Carpenter Freeway, in Dallas, TX for $23 million.

• Net loss was $11.5 million, or $0.09 per diluted share.
• Core FFO was $0.36 per diluted share.

Amalgamated Financial Corp. announced record third quarter financial results with net income of $27.9 million, or $0.90 per diluted share. The company saw growth in deposits and loans, and an increase in net interest margin to 3.51%.

• Net income of $27.9 million, or $0.90 per diluted share.
• Total deposits increased $145.6 million, or 2.0%, to $7.6 billion.

Southside Bancshares reported a net income of $20.5 million for Q3 2024, an 11.2% increase compared to Q3 2023. Earnings per diluted common share increased by 13.3% to $0.68. The results were highlighted by an increase in net interest income and strong asset quality.

• Net income increased by 11.2% to $20.5 million compared to the same period last year.
• Earnings per diluted common share rose by 13.3% to $0.68.

ConnectOne Bancorp reported a net income available to common stockholders of $15.7 million for Q3 2024, a decrease from $17.5 million in the previous quarter and $19.9 million in the same quarter last year. The decrease was primarily due to increases in noninterest expenses and provision for credit losses.

• Net income available to common stockholders was $15.7 million, down from both the previous quarter and the prior year.
• Diluted earnings per share (EPS) decreased to $0.41, compared to $0.46 in the second quarter of 2024 and $0.51 in the third quarter of 2023.

Heritage Financial Corporation reported a net income of $11.4 million for the third quarter of 2024, a decrease compared to $14.2 million for the second quarter of 2024 and $18.2 million for the third quarter of 2023. The results include a pre-tax loss on the sale of securities of $6.9 million. However, the company saw positive growth in loans and deposits, with a net interest margin of 3.33%.

• Net income was $11.4 million, or $0.33 per diluted share, down from $14.2 million, or $0.41 per diluted share in Q2 2024.
• Loans receivable increased by $146.9 million, representing a 3.2% increase (12.9% annualized).

Eagle Bancorp reported a net income of $31.8 million and EPS of $0.99 for Q3 2024. The company saw growth in loans and deposits, and maintained strong asset quality.

• Net income reached $31.8 million, with an EPS of $0.99.
• Total loans grew by $237.0 million, or 2.4% during the quarter.

Independent Bank Corporation reported a net income of $13.8 million for the third quarter of 2024, a decrease compared to the $17.5 million in the prior-year period. However, the company saw increases in net interest income, tangible book value per share, core deposits, and loans.

• Net interest income increased by $0.5 million (4.9% annualized) from the previous quarter.
• Tangible book value per share increased by $3.69 (22.3%) over the third quarter of 2023.

Esquire Financial Holdings, Inc. announced strong third quarter results with net income of $11.4 million, or $1.34 per diluted share. The company's performance was driven by growth in low-cost core deposits and strategic deployment of funds into higher yielding commercial law firm loans and short duration agency mortgage-backed securities.

• Net income increased to $11.4 million, or $1.34 per diluted share.
• Returns on average assets and equity were 2.62% and 20.29%, respectively.

MidwestOne Financial Group reported a net loss of $95.7 million for Q3 2024, or $(6.05) per diluted common share, which included a $1.2 million fraud loss related to a single incident, but the adjusted earnings were $9.1 million, or $0.58 per diluted common share. The company completed a common equity capital raise, resulting in net proceeds of $118.6 million to facilitate a balance sheet repositioning, which led to $140.4 million of securities impairment.

• Completed a common equity capital raise, resulting in net proceeds to the Company of $118.6 million to facilitate a balance sheet repositioning.
• Recognized a net loss for the quarter of $95.7 million, or $(6.05) per diluted common share, reflecting the effects of the capital raise and balance sheet repositioning.

Wabash National reported net sales of $464.0 million for Q3 2024, a 26.7% decrease compared to the previous year. The company faced a GAAP operating loss of $433.0 million due to a $450 million non-cash charge from a legal verdict. Non-GAAP adjusted EPS was $0.19. The company reduced its full-year revenue outlook to $1.95 billion and adjusted EPS guidance to $1.25.

• Q3 revenue was $464 million, within the prior outlook range.
• A $450 million non-cash charge was taken related to a legal verdict, which the company is evaluating legal options for.

HomeTrust Bancshares reported a strong third quarter with increased net income and diluted earnings per share. The company maintained a top-quartile net interest margin and saw positive impacts from a decrease in the provision for credit losses.

• Net income increased to $13.1 million, up from $12.4 million in the previous quarter.
• Diluted earnings per share rose to $0.76, compared to $0.73 in the prior quarter.

Heritage Commerce Corp reported a net income of $10.5 million for Q3 2024, an increase from $9.2 million in the previous quarter. The company experienced significant deposit growth, with total deposits up 6% and noninterest-bearing demand deposits growing 7%. The loan portfolio also saw orderly growth, with core loans increasing by $35.7 million from the prior quarter.

• Net income was $10.5 million, or $0.17 per diluted share, compared to $9.2 million, or $0.15 per diluted share, for the second quarter of 2024.
• Total deposit balances grew 6% compared to the prior quarter, with noninterest-bearing demand deposits up 7%.

CTO Realty Growth reported a strong third quarter with net income per diluted share of $0.17 and Core FFO of $0.50 per diluted share, a 6.4% increase year-over-year. The company raised $125.7 million through its common stock ATM offering and closed a $100 million unsecured term loan. Investments totaled $191.3 million at a weighted average yield of 9.5%.

• Net income per diluted share was $0.17.
• Core FFO per diluted share increased by 6.4% to $0.50.

Universal Insurance Holdings reported a net loss of $16.2 million and an adjusted net loss of $20.8 million for Q3 2024. Direct premiums written increased by 8.0% year-over-year, driven by growth in Florida and other states. The company opened for business in Wisconsin, marking its 19th state of operation.

• Loss per common share was $0.57; adjusted loss per common share was $0.73.
• Direct premiums written increased by 8.0% year-over-year to $574.4 million.

Universal Health Realty Income Trust reported a slight increase in net income for the third quarter of 2024, with net income at $4.0 million, or $.29 per diluted share, compared to $3.9 million, or $.28 per diluted share, in the third quarter of 2023. FFO increased slightly to $11.3 million, or $.82 per diluted share, compared to $11.2 million, or $.81 per diluted share during the third quarter of 2023.

• Net income increased by $125,000, or $.01 per diluted share, compared to Q3 2023.
• FFO increased by $124,000, or $.01 per diluted share, compared to Q3 2023.

HarborOne Bancorp reported a net income of $3.9 million, or $0.10 per diluted share, for the third quarter of 2024. The results were impacted by a credit loss provision of $5.9 million.

• Net income was $3.9 million, or $0.10 per diluted share.
• Loan growth of $40.3 million, or 3.3% annualized.

Shore Bancshares, Inc. reported net income of $11.2 million, or $0.34 per diluted common share, for the third quarter of 2024. The company saw an increase in net interest income and net interest margin, with asset quality remaining strong. Total deposits increased, and the company continues to build capital rapidly.

• Return on Average Assets (ROAA) was steady at 0.77% for Q3 2024.
• Net interest income increased by $1.1 million to $43.3 million, with a net interest margin of 3.17%.

Flushing Financial Corporation reported a strong third quarter in 2024, with GAAP and Core EPS reaching $0.30 and $0.26, respectively. The company experienced an increase in both GAAP and Core NIM, driven by a decrease in the cost of funds during August and September. Credit quality remained solid, with a decline in NPAs and criticized and classified assets.

• GAAP and Core EPS were $0.30 and $0.26, respectively, the best quarter in the past seven.
• GAAP and Core NIM increased by 5 and 4 bps QoQ to 2.10% and 2.07%, respectively.

Kearny Financial Corp. reported a net income of $6.1 million for the quarter ended September 30, 2024, compared to a GAAP net loss of $90.1 million for the quarter ended June 30, 2024. Excluding a goodwill impairment, net income increased $496,000 from the previous quarter. The Board of Directors declared a quarterly cash dividend of $0.11 per share.

• Net interest margin reached its inflection point and began to ascend.
• Recent fed funds rate reduction of 50 basis points has already begun translating into a cost of funds benefit in October.

Midland States Bancorp, Inc. reported net income available to common shareholders of $16.2 million, or $0.74 per diluted share, for the third quarter of 2024. The company saw improvements in capital ratios and tangible book value per share, while managing balance sheet strategies.

• Net income available to common shareholders was $16.2 million, or $0.74 per diluted share.
• Adjusted pre-tax, pre-provision earnings were $27.5 million.

The Shyft Group reported sales of $194.1 million, a decrease of 3.6% compared to the third quarter of 2023. Net income was $3.1 million, or $0.09 per share. Adjusted EBITDA increased by $3.3 million to $14.3 million, or 7.4% of sales.

• Expanded gross margin to 20.4%, up 210 basis points year-over-year.
• Blue Arc Class 4 vehicle now in production with first customer deliveries expected in the fourth quarter.

Carter Bankshares, Inc. reported a net income of $5.6 million, or $0.24 diluted earnings per share, for the third quarter of 2024. The company saw increases in total portfolio loans and total deposits. The lawsuit filed by GLAS Trust Company, LLC was voluntarily dismissed with prejudice during the third quarter of 2024.

• Nonperforming loans decreased by $12.5 million to $287.7 million compared to the prior quarter.
• Total portfolio loans increased $46.3 million, or 5.2% on an annualized basis, to $3.6 billion.

Beyond, Inc. reported a decrease in total net revenue to $311 million, a net loss of $61 million, and a diluted net loss per share of $1.33 for the third quarter of 2024. The company is focused on strengthening its asset-light ecommerce business and transforming into an affinity marketing model.

• Delivered sequential improvement in gross margin.
• Recognized benefits of cost reduction actions.

Marine Products Corporation reported a 36% decrease in net sales to $49.9 million and a 67% decrease in net income to $3.4 million for Q3 2024. The results reflected continued weakness in dealer ordering patterns given soft consumer demand. The company ended the quarter with approximately $54 million in cash and no debt.

• Net sales decreased 36% year-over-year to $49.9 million.
• Net income was $3.4 million, down 67% year-over-year, with diluted EPS at $0.10.

Primis Financial Corp. reported a net income available to common shareholders of $1.2 million, or $0.05 per diluted share, for the quarter ended September 30, 2024. Adjusting for non-recurring charges, operating net income available to common shareholders was $2.0 million, or $0.08 per diluted share.

• Net income available to common shareholders was $1.2 million, or $0.05 per diluted share.
• Operating net income available to common shareholders, adjusted for non-recurring items, was $2.0 million, or $0.08 per diluted share.

Zynex reported a 13% year-over-year increase in orders for Q3 2024. The company's revenue and earnings were within the provided guidance. They also received FDA clearance for their new TensWave device.

• Q3 2024 orders increased 13% year-over-year.
• Q3 2024 net revenue reached $50.0 million.

National Bankshares, Inc. reported a net income of $2.68 million, or $0.42 per basic common share, for the three-month period ended September 30, 2024, compared to a net income of $3.07 million, or $0.52 per basic common share, for the same period in 2023. The company ended the quarter with total assets of $1.79 billion.

• Net income for the quarter was $2.68 million, or $0.42 per basic common share.
• Total assets reached $1.79 billion at the end of the quarter.

GSI Technology reported Q2 fiscal year 2025 revenue of $4.6 million, aligning with guidance. Gross margin was 38.6%, impacted by product mix and severance costs. The company implemented cost-cutting measures expected to yield $3.5 million in annual savings and anticipates decreased cash burn.

• Revenue for the second quarter of fiscal 2025 was $4.6 million.
• Gross margin was 38.6%, affected by product mix and severance costs.

Altisource reported a solid quarter with growth in Service revenue both sequentially and year-over-year. The company generated $38.2 million in Service revenue, representing an 11.8% increase compared to the same period last year. Adjusted EBITDA also improved, driven by higher Service revenue and margin expansion.

• Service revenue increased by 11.8% year-over-year, reaching $38.2 million.
• Adjusted EBITDA improved by $2.8 million compared to the same quarter of 2023, reaching $3.6 million.