Reports

PepsiCo's businesses remained resilient in 2024, despite category performance challenges in North America and business disruptions in certain international markets. Enhanced productivity initiatives enabled investments, gross and operating margin improvements, and EPS growth. The company anticipates delivering low-single-digit organic revenue growth and mid-single-digit core constant currency EPS growth in 2025 and announced a 5% dividend increase.

• Businesses remained resilient in 2024 despite challenges in North America and international market disruptions.
• Enhanced productivity initiatives drove gross margin, operating margin, and EPS improvements.

AMD reported a record fourth quarter revenue of $7.7 billion, up 24% year-over-year. The Data Center segment saw significant growth, with annual revenue nearly doubling. The company is optimistic about continued growth in 2025 due to its product portfolio and increasing demand for high-performance and adaptive computing.

• AMD's Q4 2024 revenue reached a record $7.7 billion, a 24% increase year-over-year.
• Data Center segment revenue nearly doubled in 2024, driven by EPYC processor adoption and AMD Instinct accelerator revenue.

Amgen reported an 11% increase in total revenues for the fourth quarter, reaching $9.1 billion. Non-GAAP EPS increased by 13% to $5.31, driven by higher revenues, partially offset by increased operating expenses. The company's performance was bolstered by strong sales growth in several key products and strategic investments in its pipeline.

• Total revenues increased by 11% to $9.1 billion, with product sales growing by 11%, driven by 14% volume growth.
• GAAP EPS decreased by 18% to $1.16, primarily due to mark-to-market losses on equity investments, while non-GAAP EPS increased by 13% to $5.31.

KKR reported strong Q4 2024 results, with key financial metrics including Fee Related Earnings, Total Operating Earnings and Adjusted Net Income all growing significantly year-over-year. The firm raised a substantial amount of capital, invested a record amount on behalf of clients, and generated $1 billion in revenues in its capital markets business for the first time.

• Fee Related Earnings (FRE) increased by 25% year-over-year to $843 million.
• Total Operating Earnings (TOE) increased by 19% year-over-year to $1.1 billion.

PayPal reported a 4% increase in revenue to $8.4 billion and a 7% increase in total payment volume (TPV) to $437.8 billion. GAAP EPS decreased by 15% to $1.11, while non-GAAP EPS increased by 5% to $1.19. The company also announced a new $15 billion share repurchase authorization.

• Net revenues increased 4% to $8.4 billion.
• Total Payment Volume (TPV) increased 7% to $437.8 billion.

Chipotle announced strong Q4 2024 results, with a 13.1% increase in total revenue to $2.8 billion and a 5.4% increase in comparable restaurant sales. Diluted earnings per share increased by 20.0% to $0.24, and adjusted diluted earnings per share increased by 19.0% to $0.25. The company opened 119 company-owned restaurants during the quarter.

• Total revenue increased by 13.1% to $2.8 billion.
• Comparable restaurant sales increased by 5.4%.

Mondelēz International reported strong Q4 and FY 2024 results, with balanced top-line growth, strong earnings, and robust free cash flow generation. The company is focused on executing its long-term growth strategy and delivering on its chocolate business playbook to navigate unprecedented cocoa cost inflation.

• Net revenues increased 3.1 percent as Organic Net Revenue growth of 5.2 percent.
• Organic Net Revenue growth was driven by higher net pricing and favorable volume/mix.

TransDigm Group reported first quarter results with net sales of $2,006 million, a 12% increase from the prior year's quarter, and net income of $493 million, a 29% increase. The company reaffirmed its fiscal 2025 sales and EBITDA As Defined guidance.

• Net sales increased by 12% to $2,006 million.
• Net income increased by 29% to $493 million.

Regeneron reported a 10% increase in revenue for Q4 2024, reaching $3.79 billion. GAAP EPS was $8.06, and non-GAAP EPS was $12.07. The company initiated a quarterly dividend program and increased its share repurchase capacity to approximately $4.5 billion.

• Q4 2024 revenues increased by 10% to $3.79 billion compared to Q4 2023.
• Dupixent global net sales increased by 15% to $3.70 billion compared to Q4 2023.

Enterprise Products Partners L.P. reported a net income attributable to common unitholders of $1.6 billion, or $0.74 per common unit on a fully diluted basis, for the fourth quarter of 2024. DCF was $2.2 billion for the fourth quarter of 2024.

• Net income attributable to common unitholders was $1.6 billion, or $0.74 per common unit fully diluted.
• DCF was $2.2 billion.

Simon Property Group reported net income attributable to common stockholders of $667.2 million, or $2.04 per diluted share, and FFO of $1.389 billion, or $3.68 per diluted share for the fourth quarter of 2024. Occupancy increased to 96.5% and base minimum rent per square foot increased to $58.26.

• Net income attributable to common stockholders was $667.2 million, or $2.04 per diluted share.
• FFO was $1.389 billion, or $3.68 per diluted share.

MPLX LP reported a net income attributable to MPLX of $1,099 million for the fourth quarter of 2024, with adjusted EBITDA of $1,762 million. The company generated $1,675 million in net cash from operating activities and announced a distribution of $0.9565 per common unit.

• Net income attributable to MPLX was $1,099 million.
• Adjusted EBITDA attributable to MPLX LP was $1,762 million.

Marathon Petroleum Corp. reported a net income of $371 million for the fourth quarter of 2024, a decrease compared to the $1.5 billion reported in the same quarter of 2023. Adjusted EBITDA for the quarter was $2.1 billion, also lower than the $3.6 billion reported in the prior year. The company returned approximately $1.6 billion of capital to shareholders during the quarter through share repurchases and dividends.

• Net income attributable to MPC was $371 million, or $1.15 per diluted share.
• Adjusted net income was $249 million, or $0.77 per diluted share.

Cummins delivered strong operational results in the fourth quarter and achieved record full year revenues, net income, EBITDA and EPS, despite a decline in heavy duty truck demand in North America. Fourth quarter revenues were $8.4 billion, and net income attributable to Cummins was $418 million, or $3.02 per diluted share.

• Fourth quarter revenues reached $8.4 billion.
• GAAP Net Income for the fourth quarter was $418 million, or 4.9% of sales.

FICO announced a strong start to fiscal year 2025, with revenue reaching $440 million, a 15% increase compared to the previous year. GAAP EPS was reported at $6.14, and the company reiterated its fiscal year 2025 guidance, projecting double-digit percentage growth for both revenue and earnings.

• FICO reported a 15% increase in revenue, reaching $440 million compared to $382.1 million in the prior year period.
• GAAP net income for the quarter totaled $152.5 million, or $6.14 per share, compared to $121.1 million, or $4.80 per share, in the prior year period.

Prudential Financial, Inc. reported a net loss of $57 million for Q4 2024, compared to a net income of $1.317 billion in the year-ago quarter. However, after-tax adjusted operating income increased to $1.068 billion from $926 million in the same period last year. The company's 2024 results reflect strong sales across retirement and insurance businesses and significant positive net flows in PGIM.

• Q4 2024 net loss attributable to Prudential Financial, Inc. was $57 million or $0.17 per Common share.
• Q4 after-tax adjusted operating income was $1.068 billion or $2.96 per Common share.

AMETEK announced record fourth-quarter results with sales of $1.76 billion, a 2% increase over the fourth quarter of 2023. Operating income increased 5% to a record $469.0 million, and adjusted earnings were a record $1.87 per diluted share, up 11% from the fourth quarter of 2023.

• Record fourth-quarter sales of $1.76 billion, a 2% increase year-over-year.
• Operating income increased 5% to a record $469.0 million with operating margins of 26.6%.

Gartner reported strong Q4 2024 results with revenue of $1.7 billion, up 8% year-over-year, and net income of $399 million, a 91% increase. Adjusted EPS was $5.45, up 79%. The company's contract value also grew, and free cash flow increased by 59%.

• Revenues reached $1.7 billion, an increase of 8% as reported and FX neutral.
• Net income was $399 million, up 91% compared to the previous year.

Centene Corporation announced its Q4 and full year 2024 financial results. The company reported Q4 total revenues of $40.805 billion and GAAP diluted EPS of $0.56. Despite industry headwinds, Centene demonstrated operational improvements and delivered on its financial commitments.

• 2024 adjusted diluted EPS of $7.17, up 7% from $6.68 in 2023.
• Membership increases of 12% in Marketplace and 50% in Medicare PDP, compared to the fourth quarter of 2023.

WTW reported a revenue increase of 4% to $3.04 billion for Q4 2024. Net Income for the fourth quarter of 2024 was $1.25 billion. Adjusted EBITDA for the fourth quarter was $1.2 billion, or 38.6% of revenue, an increase of 9%.

• WTW delivered on its 2024 financial targets through solid revenue growth, robust margin expansion and earnings growth.
• The successful completion of our Grow, Simplify and Transform strategy has primed all of our businesses to perform.

WEC Energy Group reported a net income of $453.5 million, or $1.43 per share, for the fourth quarter of 2024, compared to $218.5 million, or $0.69 per share, for the same period in 2023. The company reaffirmed its earnings guidance for 2025, expecting earnings in the range of $5.17 to $5.27 per share.

• Net income for Q4 2024 was $453.5 million, or $1.43 per share.
• Full-year 2024 earnings were $1.5 billion, or $4.83 per share.

Electronic Arts announced its Q3 FY25 results, revealing a slight decrease in net revenue to $1.883 billion, but an increase in net income to $293 million. The company plans a $1 billion accelerated stock repurchase, signaling confidence in its long-term growth strategy. EA SPORTS FC 25 Team of the Year event saw record success, driving engagement.

• Net bookings totaled $2.215 billion for the quarter.
• Global Football franchise net bookings have grown more than 70% over the last five fiscal years.

The Estée Lauder Companies launched its new strategic vision, Beauty Reimagined, and reported its financial results for the second quarter ended December 31, 2024. Net sales decreased by 6% to $4.0 billion. The company is transforming its operating model to be leaner, faster, and more agile, while taking decisive actions to expand consumer coverage, step-change innovation, and increase consumer-facing investments to better capture growth and drive profitability.

• Net sales decreased 6% to $4.0 billion. Organic net sales decreased 6%.
• As Reported and Adjusted Gross margin expanded 310 basis points, to 76.1%, despite the decline in net sales, primarily driven by net benefits from the Company’s Profit Recovery and Growth Plan (“PRGP”).

Veralto reported a 4.4% increase in sales to $1,345 million, with non-GAAP core sales growth of 4.6%. The company's net earnings were $227 million, or $0.91 per diluted share, while non-GAAP adjusted net earnings reached $238 million, or $0.95 per diluted share. Operating cash flow was $285 million and non-GAAP free cash flow was $263 million.

• Sales increased 4.4% year-over-year to $1,345 million, with non-GAAP core sales growth of 4.6%.
• Operating profit margin was 22.9% and non-GAAP adjusted operating profit margin was 23.8%.

ADM's Q4 2024 earnings showed a mixed performance. GAAP EPS increased, but adjusted EPS and total segment operating profit decreased compared to the prior year. The company is focusing on cost savings and has announced a dividend increase.

• GAAP earnings per share were $1.17, up 10% from the prior year quarter.
• Adjusted earnings per share were $1.14, down 16% versus the prior year quarter.

Fox Corporation reported strong second quarter fiscal 2025 results, with revenues increasing by 20% to $5.08 billion and net income rising to $388 million. Adjusted EBITDA saw a substantial increase of 123% to $781 million, driven by higher affiliate fee and advertising revenues. The company's performance was boosted by a compelling fall sports schedule and a record-breaking presidential election news cycle.

• Revenues increased by 20% to $5.08 billion compared to the prior year quarter.
• Net income rose to $388 million, a significant increase from $115 million in the prior year quarter.

Hubbell Incorporated reported their Q4 2024 earnings, with diluted EPS of $3.64 and adjusted diluted EPS of $4.10, up 11% year-over-year. Net sales decreased by 1%, with organic sales down 3% but net M&A contributing a 3% increase. The operating margin was 19.3%, and the adjusted operating margin increased to 21.8%, up 240 bps year-over-year. The company anticipates continued growth in net sales, operating margin, operating profit, and free cash flow for 2025.

• Q4 diluted EPS was $3.64; adjusted diluted EPS was $4.10 (up 11% y/y).
• Q4 net sales decreased by 1% (organic -3%; net M&A +3%).

Atmos Energy reported a strong first quarter for fiscal year 2025, with earnings per diluted share of $2.23 on net income of $351.9 million. The company reaffirmed its fiscal 2025 earnings per diluted share guidance in the range of $7.05 - $7.25 and expects capital expenditures to be approximately $3.7 billion.

• Earnings per diluted share were $2.23 on net income of $351.9 million.
• Capital expenditures totaled $891.2 million, with approximately 86% focused on safety and reliability.

Vodafone delivered solid Q3 FY25 results with group revenue rising to €9.81 billion and service revenue reaching €7.93 billion. Strong momentum in Türkiye and Africa, along with a recovery in the UK, offset continued softness in Germany due to regulatory impacts. Operating profit declined year-over-year despite Adjusted EBITDAaL growth.

• Group total revenue increased to €9.81 billion, up from €9.35 billion.
• Service revenue grew 5.6% to €7.93 billion, with organic growth of 5.2%.

Snap Inc. reported a 14% year-over-year increase in Q4 revenue, reaching $1,557 million. Daily Active Users (DAU) grew by 9% to 453 million. The company achieved a net income of $9 million and a Free Cash Flow of $182 million for the quarter.

• Q4 revenue increased by 14% year-over-year to $1,557 million.
• Daily Active Users (DAU) increased by 9% year-over-year to 453 million.

Essex Property Trust reported a substantial increase in net income per diluted share for Q4 2024, alongside growth in Core FFO per diluted share, exceeding original guidance. Same-property revenues and NOI also saw growth, contributing to the company's strong performance.

• Net Income per diluted share increased to $4.00, significantly higher compared to $1.02 in Q4 2023, driven by gains on sale of real estate and co-investment remeasurements.
• Core FFO per diluted share grew by 2.3% compared to Q4 2023, exceeding the high-end of the Company’s original guidance range.

Carlisle Companies reported Q4 2024 results with a slight decrease in revenue but an increase in adjusted EPS. The company's performance was driven by resilient re-roofing revenue and strategic acquisitions.

• Q4 revenue declined 0.4% year-over-year to $1.1 billion.
• Diluted EPS was $3.56, while adjusted EPS reached a record $4.47, a 7% year-over-year increase.

Omnicom reported a revenue of $4.3 billion for Q4 2024, with organic growth of 5.2%. Net income was $448.0 million, and diluted earnings per share reached $2.26 ($2.41 Non-GAAP adjusted). The company's operating income stood at $685.3 million.

• Revenue reached $4.3 billion, demonstrating a 6.4% increase compared to the previous year.
• Organic revenue growth was 5.2%, driven by strong performance in Media & Advertising and Precision Marketing.

Jacobs reported a solid start to fiscal year 2025, with revenue growth driven by strong performance in Water and Life Sciences within Infrastructure & Advanced Facilities. The company's backlog grew, and they increased their share repurchase program and dividend. They are also raising FY 2025 adjusted EPS guidance range.

• Gross revenue increased by 4.4% year-over-year.
• Infrastructure & Advanced Facilities gross revenue grew by 4.9% year-over-year.

Pentair reported Q4 2024 sales of $973 million, a 1% decrease compared to the same period last year. Despite the sales decrease, the company achieved a 17% increase in operating income, reaching $195 million, with a ROS of 20.1%. GAAP EPS was $0.99, and adjusted EPS was $1.08.

• Q4 sales were $973 million, a 1% decrease year-over-year.
• Operating income increased by 17% to $195 million, with a ROS of 20.1%.

Ball Corporation reported a net loss of $32 million for Q4 2024, but achieved comparable earnings per diluted share of 84 cents, exceeding expectations. Full-year earnings were strong, with $13.00 GAAP EPS and $3.17 comparable EPS. The company returned $1.96 billion to shareholders in 2024 and is positioned for future growth in sustainable aluminum packaging.

• Q4 2024 net loss attributable to the corporation was $32 million, or a loss of 11 cents per share.
• Q4 2024 comparable earnings were 84 cents per diluted share, compared to 78 cents in Q4 2023.

IDEX Corporation reported a strong fourth quarter with record sales of $863 million, a 9% increase overall and 3% organically. The company's diluted EPS rose by 13% to $1.62, and adjusted diluted EPS increased by 11% to $2.04. Growth was driven by acquisitions and positive returns in fire safety and diversified products, while the health & science technologies segment showed strong organic orders growth.

• Record sales of $863 million, up 9% overall and 3% organically.
• Diluted EPS of $1.62, up 13%; adjusted diluted EPS of $2.04, up 11%.

Amcor reported net sales of $3,241 million and GAAP net income of $163 million for the December 2024 quarter. Adjusted EBIT increased by 5% on a comparable constant currency basis, reaching $363 million, and adjusted EPS also grew by 5% to 16.1 cents per share. The company reaffirmed its fiscal year 2025 outlook and announced a combination with Berry Global.

• Further sequential improvement in year over year volume growth.
• Net sales of $3,241 million.

Unum Group reported a net income of $348.7 million for Q4 2024, with an after-tax adjusted operating income of $368.9 million. The company's results reflect solid growth and sustained margins, supported by a favorable operating environment. Looking ahead to 2025, Unum Group anticipates continued positive business trends.

• Net income reached $348.7 million ($1.92 per diluted common share) for Q4 2024; after-tax adjusted operating income was $368.9 million ($2.03 per diluted common share).
• Full year results reflect solid growth and sustained margins supported by the favorable operating environment; full year core operations premium growth of 5.0 percent on a constant currency basis and full year after-tax adjusted operating earnings per share growth of 10.2 percent when comparing to 2023.

Jack Henry & Associates reported a 5.2% increase in GAAP revenue and a 3.4% increase in GAAP operating income for the fiscal three months ended December 31, 2024, compared to the prior fiscal year quarter. GAAP EPS was $1.34 per diluted share, compared to $1.26 per diluted share in the prior fiscal year quarter.

• GAAP revenue increased by 5.2% compared to the prior fiscal year quarter.
• GAAP operating income increased by 3.4% compared to the prior fiscal year quarter.

American Financial Group reported Q4 2024 net earnings of $255 million ($3.03 per share) compared to $263 million ($3.13 per share) in Q4 2023. Core net operating earnings were $262 million ($3.12 per share) for Q4 2024, compared to $238 million ($2.84 per share) in Q4 2023. The increase was driven by higher P&C net investment income, including improved returns on alternative investments, partially offset by lower P&C underwriting profit.

• Net earnings per share were $3.03 in the fourth quarter and $10.57 for the full year.
• Core net operating earnings per share were $3.12 in the fourth quarter and $10.75 for the full year.

Aramark reported a positive start to fiscal year 2025, marked by revenue growth, increased profitability, and strategic capital allocation. The company's focus on profitable growth strategies and operational efficiencies drove strong financial results.

• Revenue increased by 3%, with organic revenue growth of 5%, marking the highest revenue quarter in Global FSS history.
• Operating Income rose by 30%, and Adjusted Operating Income (AOI) increased by 13%, achieving a record AOI for a first quarter in Global FSS history.

Mueller Industries reported a 26.1% increase in net sales and a 26.0% increase in operating income for the fourth quarter of 2024 compared to the same period in 2023. The increase in net sales was primarily due to sales from recent acquisitions and increased volume in U.S. construction-related products. The company ended the year with $1.06 billion in cash and short-term investments.

• Net sales increased by 26.1% to $923.5 million.
• Operating income increased by 26.0% to $170.3 million.

Ingredion Incorporated reported record Q4 financial results, driven by strong sales volume growth in Texture and Healthful Solutions and exceptional results in Food and Industrial Ingredients US/CAN and LATAM segments. The company's 2024 reorganization and new segment structure positioned teams well toward targeted market and customer opportunities, establishing a solid foundation for future growth.

• Delivered record Q4 financial results driven by continued strong sales volume growth in Texture and Healthful Solutions and exceptional results in our Food and Industrial Ingredients US/CAN and LATAM segments.
• The creation of a global Texture & Healthful Solutions segment has strengthened collaboration with customers in support of their pursuit of innovative volume growth.

Match Group's Q4 2024 revenue reached $860 million, a 1% year-over-year decrease, while operating income was $223 million, down 14% year-over-year. The company focused on product innovation and disciplined financial management, repurchasing $117 million in stock during the quarter.

• Total revenue decreased by 1% year-over-year to $860 million, but increased by 1% on a foreign exchange neutral basis.
• Operating income declined by 14% year-over-year to $223 million, representing a 26% operating income margin.

Enphase Energy reported a revenue of $382.7 million for Q4 2024. The company shipped approximately 2.01 million microinverters and 152.4 megawatt hours of IQ Batteries. The non-GAAP diluted earnings per share was $0.94.

• Quarterly revenue was $382.7 million.
• GAAP gross margin was 51.8%, while non-GAAP gross margin was 53.2% with net IRA benefit.

Graphic Packaging Holding Company reported fourth quarter 2024 results, with net sales decreasing by 7% to $2,095 million and net income at $138 million, or $0.46 per share. The company is focusing on driving competitive advantage in recycled paperboard and expanding innovation capabilities.

• Net sales decreased by 7% to $2,095 million in Q4 2024.
• Net income for Q4 2024 was $138 million, or $0.46 per share.

Axalta Coating Systems reported record fourth-quarter net sales of $1.3 billion. Net income increased 85% year over year to $137 million, and Adjusted EBITDA increased by 10% to $275 million. Diluted EPS increased 91% to $0.63, and Adjusted Diluted EPS increased 30% to $0.60.

• Record fourth quarter net sales of $1.3 billion.
• Net income increased 85% year over year to $137 million, with net income margins of 10.5%.

ATI Inc. reported strong Q4 2024 results, with sales of $1.17 billion and net income of $137.1 million. The company saw a 10% increase in sales compared to Q4 2023, driven by strong demand in the aerospace and defense markets. Full year sales reached $4.4 billion, the highest since 2012.

• Q4 2024 sales increased by 10% compared to Q4 2023, reaching $1.2 billion.
• Net income attributable to ATI for Q4 2024 was $137 million, or $0.94 per share.

H&R Block reported flat revenue year-over-year at $179.1 million for Q2 2025. The company's pretax loss increased by $29.4 million to $312.3 million, and the adjusted loss per share increased to $(1.73) from $(1.27). They reaffirmed their fiscal year 2025 outlook and repurchased 3.2 million shares for $190 million.

• Revenue remained flat at $179.1 million compared to the prior year.
• Pretax loss increased by $29.4 million to $312.3 million.

FMC Corporation reported a 7% increase in revenue for Q4 2024, reaching $1.22 billion. Adjusted earnings per share increased by 67% to $1.79. The company's performance was driven by volume growth, particularly from its growth portfolio, and cost discipline, despite headwinds from FX impacts and lower pricing.

• Revenue increased by 7% versus Q4 2023, and 12% organically.
• Adjusted EBITDA increased by 33% versus prior year, exceeding guidance midpoint.

Voya Financial's Q4 2024 net income available to common shareholders was $93 million, or $0.94 per diluted share. After-tax adjusted operating earnings were $138 million, or $1.40 per diluted share. Strong results in Wealth Solutions and Investment Management were offset by higher loss ratios in Health Solutions. The company returned $800 million of capital to shareholders in 2024 and completed the acquisition of OneAmerica Financial's full-service retirement plan business.

• Net income available to common shareholders was $93 million, or $0.94 per diluted share.
• After-tax adjusted operating earnings were $138 million, or $1.40 per diluted share.

Hamilton Lane reported a strong third quarter with significant growth in assets under management and management and advisory fees. GAAP EPS was $1.32, and the company declared a quarterly dividend of $0.49 per share. Total assets under management reached $134.7 billion, and management and advisory fees grew by 11% compared to the prior year period.

• Total assets under management grew to $134.7 billion, a 12% increase year-over-year.
• Management and advisory fees increased by 11% year-over-year, reaching $126.3 million for the quarter.

Zurn Elkay Water Solutions reported a solid fourth quarter with a 4% increase in net sales, driven by core sales growth across nearly all product categories. Adjusted EPS increased to $0.32, and adjusted EBITDA margin expanded by 100 basis points. The company also deployed $20 million to repurchase shares.

• Net sales increased to $371 million compared to $357 million in the prior year's quarter.
• Net income from continuing operations was $36 million, with diluted EPS of $0.21.

Mattel's Q4 2024 results showed a 2% increase in net sales, reaching $1,646 million. The company's gross margin improved to 50.7%, and operating income rose to $158 million. Earnings per share were reported at $0.42, with adjusted EPS at $0.35. Mattel is targeting $600 million of share repurchases in 2025.

• Net sales increased by 2% as reported, and 3% in constant currency.
• Gross margin increased to 50.7%, an increase of 190 basis points.

CorVel Corporation reported a revenue increase of 13% to $228 million and earnings per share of $0.46 for the quarter ended December 31, 2024.

• Revenue increased 13% to $228 million compared to the third quarter of fiscal year 2024.
• Gross profit increased 25% to $52.9 million, with a gross margin of 23.2%.

ChampionX reported a revenue of $912 million for Q4 2024, a slight increase sequentially. Net income attributable to ChampionX was $82.8 million, and adjusted EBITDA reached $212.3 million. The company's adjusted EBITDA margin hit its highest level as ChampionX at 23.3%.

• ChampionX's Q4 revenue reached $912 million, driven by seasonal strength in Production Chemical Technologies.
• Net income attributable to ChampionX was $82.8 million, with an income before income taxes margin of 13.0%.

NOV Inc. reported fourth quarter revenues of $2.31 billion, a decrease of one percent compared to the fourth quarter of 2023. Net income for the quarter was $160 million, or $0.41 per diluted share.

• Fourth quarter net income of $160 million, or $0.41 per diluted share.
• Fourth quarter Adjusted EBITDA of $302 million.

The Hanover Insurance Group reported a record fourth quarter with net income of $167.9 million, or $4.59 per diluted share, and operating income of $194.6 million, or $5.32 per diluted share. The company's combined ratio was 89.2%, and net premiums written increased by 7.4%.

• Net income reached $167.9 million, or $4.59 per diluted share, compared to $107.9 million, or $2.98 per diluted share, in the prior-year quarter.
• Operating income was $194.6 million, or $5.32 per diluted share, up from $113.1 million, or $3.13 per diluted share, in the prior-year quarter.

Madison Square Garden Sports Corp. reported a 9% increase in revenue for the fiscal second quarter of 2025, driven by higher ticket sales, suite revenues, and sponsorship deals. However, operating income decreased by 54% and adjusted operating income decreased by 45% due to increased operating expenses, including team personnel compensation and league revenue sharing expenses.

• Revenues increased by 9% compared to the prior year period, reaching $357.8 million.
• Operating income decreased by 54% to $13.3 million.

Cirrus Logic reported fiscal third quarter revenue of $555.7 million, significantly above the top end of their guidance range. The company experienced strong demand for smartphone audio components and gained momentum in the laptop business. GAAP earnings per share was $2.11 and non-GAAP earnings per share was $2.51.

• Revenue of $555.7 million was reported.
• GAAP and non-GAAP gross margin was 53.6 percent.

Champion Homes reported a strong third quarter in fiscal year 2025, marked by a 15.3% increase in net sales to $644.9 million and a 31.0% increase in net income to $61.5 million. The company experienced growth in U.S. homes sold and average selling price, alongside an expansion in gross profit margin. The company repurchased $20.0 million of shares under the share repurchase program.

• Net sales increased by 15.3% to $644.9 million.
• U.S. homes sold increased by 14.1% to 6,437.

Intapp reported strong second-quarter results with a 17% year-over-year increase in total revenue, reaching $121.2 million. The company's SaaS revenue grew by 27% to $80.0 million, and Cloud ARR increased by 29% to $331.1 million. Intapp also provided its outlook for the third quarter and the full fiscal year 2025.

• SaaS revenue increased by 27% year-over-year, reaching $80.0 million.
• Total revenue grew by 17% year-over-year, amounting to $121.2 million.

Enact Holdings reported a net income of $163 million, or $1.05 per diluted share, and an adjusted operating income of $169 million, or $1.09 per diluted share. The company's primary insurance in-force reached a record $269 billion. Enact returned over $350 million of capital to shareholders in 2024 and announced a quarterly cash dividend of $0.185 per common share.

• Net income was $163 million, or $1.05 per diluted share.
• Adjusted operating income was $169 million, or $1.09 per diluted share.

Columbia Sportswear Company reported a 3% increase in net sales to $1,096.6 million and a 21% increase in operating income to $137.3 million for the fourth quarter of 2024. Diluted earnings per share increased by 16% to $1.80. The company's balance sheet remains strong with $815.5 million in cash and short-term investments and no borrowings.

• Net sales increased 3% to $1,096.6 million.
• Operating income increased 21% to $137.3 million.

Modine reported a 10% increase in net sales to $616.8 million, driven by strong data center sales. Gross profit increased by 18% to $149.6 million, and adjusted EPS increased by 24% to $0.92. The Climate Solutions segment saw a 42% increase in sales, while the Performance Technologies segment experienced a 16% decrease.

• Net sales increased 10 percent from the prior year.
• Net earnings decreased 9 percent from the prior year.

Lumen Technologies reported a net income of $85 million for Q4 2024, a significant improvement compared to the net loss of $(1.995) billion in Q4 2023. The company focused on strengthening its financial position, transforming corporate functions, and building infrastructure for the AI economy.

• Reported Net Income of $85 million for the fourth quarter 2024, compared to reported Net Loss of $(1.995) billion for the fourth quarter 2023.
• Reported diluted earnings per share of $0.09 for the fourth quarter 2024, compared to diluted loss per share of $(2.03) for the fourth quarter 2023.

Varonis reported strong ARR growth, driven by SaaS and customer interest in Generative AI. SaaS ARR now represents a majority of total ARR. The company anticipates continued ARR growth and free cash flow improvement.

• Annual recurring revenues grew 18% year-over-year.
• SaaS ARR as a percentage of total ARR was approximately 53%.

Lancaster Colony Corporation reported a 4.8% increase in consolidated net sales, reaching a second quarter record of $509.3 million. The company's consolidated gross profit also increased by 9.3% to a record $132.8 million, while consolidated operating income grew by 15.1% to a record $75.7 million. Net income was $1.78 per diluted share, compared to $1.87 per diluted share in the previous year.

• Consolidated net sales increased 4.8% to a second quarter record of $509.3 million.
• Retail net sales grew 6.3% to $280.8 million, driven by licensing program and own brands.

IES Holdings reported an 18% increase in revenue and a 29% increase in operating income for the first quarter of fiscal 2025 compared to the same quarter of the prior year. Strong demand in the data center market benefited the Communications, Infrastructure Solutions, and Commercial & Industrial segments. The company also completed the acquisition of Arrow Engine Company subsequent to the end of the quarter.

• Revenue increased by 18% to $750 million compared to the same quarter last year.
• Operating income increased by 29% to $74.6 million compared to the same quarter last year.

Silicon Labs reported Q4 2024 revenue of $166 million. The company expects sequential revenue growth to resume in the first quarter of 2025.

• Q4 revenue was $166 million.
• Industrial & Commercial revenue was $89 million, down 8% sequentially.

Oscar Health announced its Q4 and full year 2024 results, reporting positive Adjusted EBITDA and net income profitability for the first time in company history. The company's revenue reached $9.2 billion for the year, driven by membership growth and strong retention.

• Reported both Adjusted EBITDA and net income profitability.
• Achieved all-time-high membership.

PJT Partners Inc. announced record full year and fourth quarter 2024 results. Q4 revenues reached $477 million, a 45% increase year-over-year, with GAAP diluted EPS of $1.83 and Adjusted EPS of $1.90, representing increases of 110% and 98%, respectively. The firm-wide headcount was 1,143 as of December 31, 2024, a 13% increase from the previous year. The company held $547 million in cash, cash equivalents, and short-term investments with no funded debt.

• Record revenues of $477 million, up 45% year-over-year.
• GAAP Pretax Income of $103 million and Adjusted Pretax Income of $107 million, increased 99% and 102%, respectively, year-over-year.

Mueller Water Products reported strong first quarter results for fiscal year 2025, with net sales increasing by 18.7% to $304.3 million compared to the prior year. The company reported a net income of $35.3 million and an adjusted EBITDA of $63.5 million. As a result of the strong performance, the company raised its annual guidance for fiscal 2025 net sales and adjusted EBITDA.

• Net sales increased 18.7 percent to $304.3 million compared to the prior year quarter.
• Operating income increased to $47.4 million, and adjusted operating income increased 78.2 percent to $52.4 million.

Western Union reported a 1% increase in Q4 revenue to $1.1 billion, driven by growth in Consumer Services and Branded Digital, though negatively impacted by lower contributions from Iraq. GAAP EPS was $1.13, including a $0.75 tax benefit, while adjusted EPS increased to $0.40.

• Q4 GAAP revenue increased by 1% to $1.1 billion.
• Branded Digital GAAP revenue grew by 7%.

Artisan Partners reported their results for the quarter and year ended December 31, 2024 and declared a quarterly and special annual dividend.

• Artisan Partners reported earnings for the quarter and year ended December 31, 2024.
• A quarterly and special annual dividend was declared.

Enova International reported a strong fourth quarter in 2024, marked by a 25% increase in total revenue to $730 million and an 83% increase in net income to $64 million, or $2.30 per diluted share. Adjusted earnings per share rose by 43% to $2.61. The company's portfolio expanded to nearly $4 billion, driven by strength in both SMB and consumer businesses.

• Total revenue increased by 25% to $730 million compared to Q4 2023.
• Diluted earnings per share increased 104% to $2.30, and adjusted earnings per share increased 43% to $2.61 compared to Q4 2023.

Atkore reported a decrease in net sales by 17.1% to $661.6 million and a decrease in net income to $46.3 million, with diluted EPS at $1.31. The results aligned with the company's projections, with net sales from metal framing, cable management, and construction services increasing mid-single digits. The company is adjusting its full-year Adjusted EBITDA outlook to $375 - $425 million and Adjusted net income per diluted share outlook to $5.75 - $6.85.

• Net sales decreased by 17.1% year-over-year to $661.6 million.
• Net income per diluted share decreased to $1.31, a $2.30 decrease versus prior year.

Energizer Holdings, Inc. reported a 2.1% increase in net sales and a 3.8% increase in organic net sales for the first quarter of fiscal year 2025. Adjusted earnings per share increased by 14%. The company reaffirms its outlook for adjusted earnings per share and adjusted EBITDA.

• Net sales for the quarter grew by 2.1%, and organic net sales increased by 3.8%, with organic growth in both Battery and Auto Care.
• Gross margin for the first quarter was 36.8%, and adjusted gross margin was 40.0%, a 50 bps improvement over the prior year's adjusted gross margin.

Mercury Systems reported Q2 FY25 results with revenue of $223.1 million, a GAAP net loss of $17.6 million, and adjusted EBITDA of $22.0 million. The company secured bookings of $242.4 million, resulting in a book-to-bill ratio of 1.09. They also achieved record free cash flow of $81.9 million and a record backlog of $1.4 billion.

• Q2 FY25 bookings were $242.4 million, with a book-to-bill ratio of 1.09.
• Record backlog reached $1.4 billion, up 6% year-over-year.

Kulicke & Soffa reported first quarter net revenue of $166.1 million, net income of $81.6 million, representing EPS of $1.51 per fully diluted share, and non-GAAP net income of $20.2 million, representing non-GAAP EPS of $0.37 per fully diluted share.

• Net revenue of $166.1 million.
• Gross margin of 52.4%.

Premier, Inc. reported financial results for the fiscal-year 2025 second quarter ended December 31, 2024. The company reaffirmed the midpoints of its consolidated fiscal 2025 revenue and adjusted EBITDA guidance and increased adjusted earnings per share guidance.

• Total net revenue of $240.3 million (Total net revenue excluding Contigo Health* of $232.2 million)
• GAAP net loss from continuing operations of $45.8 million, or $(0.60) per fully diluted share, which includes a $126.8 million impairment charge to goodwill related to the company’s data and technology business in the Performance Services segment

Allegiant Travel Company reported a GAAP diluted loss per share of $(12.00) for Q4 2024. However, the company's adjusted airline-only diluted earnings per share was $3.00, and adjusted diluted earnings per share was $2.10. Total operating revenue increased by 2.7% year-over-year to $627.7 million. The results were influenced by a one-time impairment charge related to Sunseeker Resort.

• GAAP diluted loss per share was $(12.00), impacted by a one-time impairment charge related to Sunseeker Resort.
• Adjusted airline-only diluted earnings per share reached $3.00, reflecting strong performance in the airline segment.

CTS Corporation reported a 2% increase in sales year-over-year for Q4 2024, reaching $127 million, driven by a 28% increase in diversified end-markets, while the transportation end-market saw an 18% decrease. Net income was $14 million, with earnings per diluted share at $0.45 and adjusted earnings per diluted share at $0.53. The SyQwest acquisition contributed $11 million in revenue during the quarter.

• Sales increased by 2% year-over-year, reaching $127 million.
• Diversified end-markets experienced a 28% increase in sales year-over-year.

American Assets Trust, Inc. reported a net income available to common stockholders of $9.0 million for the fourth quarter of 2024, with FFO per diluted share decreasing 4% year-over-year to $0.55. Same-store cash Net Operating Income increased by 2.6% compared to the same period in 2023.

• Net income available to common stockholders was $9.0 million, or $0.15 per diluted share.
• FFO decreased 4% year-over-year to $0.55 per diluted share.

Brandywine Realty Trust reported a net loss available to common shareholders of $(43.3) million, or $(0.25) per share, for the fourth quarter of 2024. FFO available to common shareholders was $29.9 million, or $0.17 per diluted share. Key transactions included the sale of One and Two Barton Skyway in Austin and a 50% interest in an unconsolidated joint venture owning 4040 Wilson in Arlington.

• Net loss available to common shareholders was $(43.3) million, or $(0.25) per share, including a $(23.8) million non-cash impairment charge.
• FFO available to common shareholders was $29.9 million, or $0.17 per diluted share.

Ichor Holdings reported Q4 2024 revenues of $233 million, at the upper end of their guidance range. GAAP EPS was $(0.12) and non-GAAP EPS was $0.08. The company expects continued revenue growth in Q1 2025 and significant gross margin improvement.

• Revenues reached $233 million, hitting the high end of the guidance.
• GAAP gross margin was 11.6%, while non-GAAP gross margin was 12.0%.

Sun Country Airlines reported a strong fourth quarter and full year in 2024, with record fourth quarter revenue and pretax earnings. The company's diversified business model and capacity adjustments contributed to the positive results.

• Q4 2024 total revenue reached $260.4 million, marking the highest fourth quarter revenue on record.
• GAAP diluted EPS for Q4 2024 was $0.24, with an operating income margin of 10.0%.

Mesa Labs reported a 17.5% increase in revenues, driven by 12.6% organic growth and a 4.9% inorganic contribution from GKE. Operating income saw a substantial increase of 8,725%. However, the company experienced a net loss due to unrealized foreign currency losses and interest expense. Non-GAAP core organic revenues grew by 13.2%, and AOI increased by 21.2%.

• Revenues increased by 17.5% driven by organic growth and the acquisition of GKE.
• Operating income increased significantly by 8,725%.

First Financial Corporation reported a net income of $16.2 million for Q4 2024, an increase from $12.4 million in Q4 2023. Diluted earnings per share rose to $1.37 from $1.06 year-over-year. The corporation experienced loan growth and record net interest income, contributing to an expanded net interest margin.

• Net income increased to $16.2 million, compared to $12.4 million in the same period of 2023.
• Diluted net income per common share was $1.37, up from $1.06 for the same period in 2023.

CVRx reported a 36% increase in revenue to $15.3 million for the fourth quarter of 2024, driven by a 39% increase in U.S. revenue. The company's net loss was $10.7 million, or $0.43 per share.

• Revenue was $15.3 million, an increase of 36% year-over-year.
• U.S. revenue was $14.4 million, an increase of 39% year-over-year.

8x8 reported total revenue of $178.9 million and GAAP net income of $3.0 million for the third quarter of fiscal year 2025. The company delivered its 16th consecutive quarter of positive cash flow from operations and saw strong growth in new products.

• Total revenue reached $178.9 million.
• Service revenue was $173 million.

Aviat Networks reported a 26.2% year-over-year increase in total revenue, reaching $118.2 million. Operating income was $8.0 million, with a non-GAAP operating income of $12.6 million. The company achieved a record quarterly adjusted EBITDA of $14.8 million and a non-GAAP diluted earnings per share of $0.82.

• Completed 18 consecutive quarters of trailing twelve month revenue growth.
• Achieved record quarterly adjusted EBITDA driven by healthy sales, margins, and disciplined cost management.

Golub Capital BDC, Inc. reported a net investment income per share of $0.37 and earnings per share of $0.42 for the quarter ended December 31, 2024. The net asset value per share decreased to $15.13 at December 31, 2024.

• Net investment income per share for the quarter ended December 31, 2024 was $0.37.
• Adjusted Net Investment Income Per Share for the quarter ended December 31, 2024 was $0.39.

Oaktree Specialty Lending Corporation reported a GAAP net investment income of $44.3 million ($0.54 per share) for the first fiscal quarter of 2025, compared to $44.9 million ($0.55 per share) for the fourth fiscal quarter of 2024. Total investment income was $86.6 million ($1.05 per share) for the first fiscal quarter of 2025, as compared with $94.7 million ($1.15 per share) for the fourth fiscal quarter of 2024.

• Oaktree Capital I, L.P. purchased $100.0 million of shares of OCSL common stock at the Company’s net asset value as of January 31, 2025.
• A total return hurdle was implemented, resulting in waived Part I incentive fees of $6.4 million for the quarter ended December 31, 2024.