Reports

Micron Technology, Inc. announced record revenue of $8.71 billion for its first quarter of fiscal 2025, driven by strong AI demand and data center revenue growth. The company reported GAAP net income of $1.87 billion, or $1.67 per diluted share, and non-GAAP net income of $2.04 billion, or $1.79 per diluted share.

• Micron delivered a record quarter with revenue of $8.71 billion.
• Data center revenue surpassed 50% of total revenue for the first time, growing over 40% sequentially and over 400% year over year.

Lennar's Q4 2024 results showed a decrease in net earnings compared to the prior year, impacted by rising mortgage rates. While demand remained strong, new orders fell short of expectations. The company focused on managing inventory levels and maintaining a strong balance sheet.

• Net earnings per diluted share were $4.06, or $4.03 excluding mark-to-market gains on technology investments.
• Total revenues reached $9.9 billion, with homebuilding revenues at $9.5 billion.

General Mills reported a 2% increase in net sales to $5.2 billion, with organic net sales up 1%. The company's operating profit increased by 33% to $1.1 billion, and diluted EPS rose by 39% to $1.42. These results reflect the impact of certain favorable timing items expected to reverse in the second half of the fiscal year, along with increased investments aimed at improving volume and market share trends.

• Net sales increased by 2% to $5.2 billion, with organic net sales up 1%.
• Operating profit rose by 33% to $1.1 billion, and adjusted operating profit increased 7% in constant currency.

Jabil Inc. reported strong first quarter results for fiscal year 2025, exceeding expectations due to strength in specific end-markets. The company anticipates approximately $27.3 billion in net revenue, with core operating margins of 5.4% and core earnings per share of $8.75 for the fiscal year 2025. They also foresee robust adjusted free cash flow generation of $1.2 billion for the year.

• Net revenue for the first quarter was $7.0 billion.
• U.S. GAAP operating income was $197 million.

The Toro Company reported a 9% increase in net sales for the fourth quarter of fiscal 2024, reaching $1.08 billion, and a 30% increase in diluted EPS to $0.87. The company's full-year net sales also increased to $4.58 billion. The company expects total company net sales growth in the range of 0% to 1% and *adjusted diluted EPS in the range of $4.25 to $4.40.

• Fourth-quarter net sales increased by 9% to $1.08 billion compared to the same period in fiscal 2023.
• Fourth-quarter reported diluted EPS increased by 30% to $0.87, and adjusted diluted EPS increased by 34% to $0.95.

ABM reported a 4.0% increase in revenue to $2.2 billion, including 3.2% organic growth. However, the company posted a net loss of $11.7 million, or a loss of $0.19 per share, primarily due to a $59.7 million adjustment to the RavenVolt acquisition earn-out. Adjusted EPS was $0.90. The company repurchased $32.0 million of common stock and raised its quarterly dividend by 18%.

• Revenue increased by 4.0% to $2.2 billion, with 3.2% organic growth.
• Net loss was $11.7 million, or $0.19 loss per share, due to a $59.7 million RavenVolt acquisition adjustment.

Enerpac Tool Group reported a 2.3% increase in consolidated net sales, reaching $145.2 million. Operating profit rose by 9% to $31.1 million, with net income increasing to $21.7 million, or $0.40 per diluted share. The company is maintaining its full-year fiscal 2025 guidance.

• Consolidated net sales increased by 2.3% to $145.2 million.
• Organic sales decreased by 0.8% year-over-year.

MillerKnoll reported a 2.2% increase in net sales to $970.4 million for the second quarter of fiscal year 2025. The company maintained a strong gross margin of 38.8% and returned approximately $93.1 million to shareholders through share repurchases and dividends in the first half of the fiscal year. Adjusted earnings per share were $0.55, compared to $0.59 in the same period last year.

• Consolidated net sales increased by 2.2% year-over-year, driven by International Contract & Specialty and Americas Contract segments.
• Gross margin remained strong at 38.8%.