Reports

Microsoft delivered a solid Q3 FY25 with double-digit growth in revenue, net income, and EPS, fueled by strong performance in cloud and server products.

• Total revenue reached $70.066 billion, a 13% increase year-over-year.
• Net income rose to $25.824 billion, up 18% from last year.

Meta delivered a strong Q1 2025 with $42.31 billion in revenue and $16.64 billion in net income, driven by increased ad prices and ongoing user growth.

• Revenue reached $42.31 billion, up from $36.46 billion a year earlier.
• Net income surged to $16.64 billion, with a 41% operating margin.

Caterpillar experienced a decline in revenue and profit for Q1 2025 due to lower sales volume and unfavorable pricing, but continued strategic execution with strong shareholder returns and a record $5 billion increase in backlog.

• Revenue declined 10% YoY to $14.25B, primarily due to lower sales volume and price realization.
• Net income was $2.0B with GAAP EPS of $4.20 and adjusted EPS of $4.25.

ADP reported strong Q3 2025 results with a 6% increase in revenue and 5% growth in net income. Adjusted EBIT and adjusted EPS both rose 6%, driven by balanced segment growth and improved interest income from client funds.

• Revenue reached $5.6 billion, up 6% year-over-year.
• Net income increased 5% to $1.2 billion.

KLA delivered a solid Q3 FY25, posting stronger than expected revenue and EPS. The company highlighted strong demand in semiconductor process control, significant capital returns, and announced a $5B share repurchase along with a dividend hike.

• Revenue and EPS both exceeded the guidance midpoints.
• Net income rose to $1.09B from $602M a year earlier.

Equinix reported a solid Q1 2025 performance, marked by higher-than-expected revenues and profitability. The company achieved strong operating income and net income growth, underpinned by rising demand for AI and cloud services, while increasing its guidance for the full year.

• Revenue reached $2.225 billion, up from $2.127 billion a year ago.
• Net income surged to $343 million, a 48% increase year-over-year.

Trane Technologies delivered robust performance in Q1 2025, driven by strong order growth and execution, especially in its Americas segment. The company reported increases in revenue, adjusted EPS, and operating income, and expects to finish the year toward the high end of its guidance range.

• Revenue grew 11% YoY to $4.69 billion, with organic growth matching headline growth.
• Adjusted EPS rose 26% YoY to $2.45, while GAAP EPS hit $2.71.

Illinois Tool Works delivered $3.8B in revenue and $2.38 EPS in Q1 2025, with strong net income despite a modest revenue decline. The company maintained its full-year guidance, citing successful pricing strategies to counteract tariffs.

• GAAP EPS was $2.38, with restructuring and FX impacts totaling $0.10 per share.
• Revenue declined 3.4% year-over-year to $3.8 billion; organic revenue fell 1.6%.

Banco Santander delivered a robust performance in Q1 2025 with €3.4 billion in net income, aided by record net fee income, improved operational efficiency, and strong customer growth.

• Net income rose 19% to €3.4 billion driven by strong fee income and cost discipline.
• Return on tangible equity increased to 15.8%, signaling improved profitability.

CPKC reported a robust first quarter with $3.8 billion in revenue and $909 million in net income, driven by strong freight demand and a resilient North American network.

• Revenue rose to CAD 3.8 billion, up from CAD 3.52 billion in Q1 2024.
• Net income attributable to controlling shareholders reached CAD 910 million.

BP posted stable results in Q1 2025, buoyed by oil and gas performance, though refining margins were weaker.

• Strong oil production supported earnings growth.
• Gas & low-carbon energy showed resilience despite market volatility.

MetLife delivered a resilient Q1 2025, with net income growing 10% to $879 million and adjusted EPS rising to $1.96. Revenue rose on the back of higher premiums and variable investment income, while the company returned $1.8 billion to shareholders and initiated a $10 billion annuity risk transfer.

• Net income rose 10% to $879 million, driven by derivative gains and higher variable investment income.
• Adjusted EPS increased to $1.96, reflecting strong operating performance despite currency headwinds.

GSK delivered solid performance in Q1 2025, led by double-digit growth in Specialty Medicines, especially in HIV, Oncology, and Immunology. Operating income and net income saw major increases, supported by lower contingent consideration charges and strong R&D momentum.

• Specialty Medicines grew 17% CER, driven by HIV, Oncology, and Immunology
• Operating income rose 50% YoY, aided by lower contingent consideration liabilities

Public Storage delivered a resilient performance in Q1 2025, supported by contributions from acquisitions and development projects, even as net income declined due to FX headwinds.

• Core FFO per share increased 2.2% YoY to $4.12.
• Net income declined to $358,230,000 due to foreign exchange losses.

Allstate delivered $16.5B in total revenue and $949M in adjusted net income in Q1 2025, driven by premium increases and reinsurance recoveries, despite $3.3B in gross catastrophe losses.

• Total revenue increased 7.8% year-over-year to $16.5B
• Net income was $566M despite $3.3B in gross catastrophe losses

Crown Castle posted a net loss of $464 million in Q1 2025, driven by an $830 million loss related to its planned Fiber business divestiture. Despite this, the core tower segment delivered 5% organic growth excluding Sprint Cancellations, and Adjusted EBITDA remained strong at $722 million.

• Net loss of $464 million was mainly due to a one-time $830 million loss from the pending Fiber business sale.
• Site rental revenues declined 5% YoY to $1.01 billion due to Sprint Cancellations and amortization effects.

Prudential Financial delivered solid Q1 2025 results with strong U.S. business performance and increased PGIM inflows, despite lower private equity and real estate returns impacting alternative investments.

• Net income was $707 million, down from $1.138 billion last year.
• Adjusted operating income rose to $1.188 billion from $1.115 billion a year ago.

Robinhood reported a 50% year-over-year revenue increase in Q1 2025 to $927 million, alongside a 114% surge in net income to $336 million, fueled by record-breaking trading activity and subscriber growth.

• Revenue rose to $927 million, up 50% year-over-year.
• Net income more than doubled to $336 million.

Barclays delivered a strong performance in Q1 2025, with income rising 11% YoY and statutory RoTE reaching 14.0%. EPS increased to 13.0p, driven by improved returns in the Investment Bank and stable performance across other units.

• Group income grew to £7.7bn, up from £7.0bn in Q1 2024.
• Statutory RoTE improved to 14.0%, from 12.3% in the prior year.

Garmin posted a robust Q1 2025, delivering record quarterly revenue and operating income, led by double-digit growth in Outdoor and Auto OEM segments. The company maintained full-year EPS guidance, highlighting product innovation and operational resilience amid global trade uncertainties.

• Record Q1 revenue of $1.54 billion, up 11% year-over-year
• Operating income rose 12% to $332.8 million

Public Service Enterprise Group delivered a solid performance in Q1 2025, driven by peak winter demand and high operational reliability, resulting in increased revenue, net income, and EPS.

• Net Income reached $589 million, up from $532 million in Q1 2024.
• Non-GAAP EPS increased to $1.43, reflecting strong operating performance.

GE HealthCare reported a strong start to 2025 with 4% organic revenue growth and notable profit expansion, supported by robust U.S. demand and operational execution.

• Revenue reached $4.777 billion, growing 3% year-over-year (4% organic).
• Net income rose to $564 million, a significant increase from $374 million last year.

Cognizant exceeded revenue and margin expectations in Q1 2025, delivering strong EPS growth and maintaining solid operating discipline amidst macroeconomic uncertainty.

• Revenue reached $5.115 billion, up 7.5% year-over-year.
• Net income grew to $663 million, up from $546 million last year.

Yum! Brands delivered a solid Q1 performance driven by Taco Bell U.S. same-store sales growth of 9% and KFC International unit growth of 7%. EPS excluding special items rose to $1.30. However, Pizza Hut remained a drag on overall results with declines in revenue and profit.

• EPS excluding special items rose 13% to $1.30
• Taco Bell U.S. same-store sales grew 9%, leading brand performance

Humana delivered a solid Q1 2025 performance, driven by strong results in its Medicare Advantage business and continued execution of its long-term value-based care strategy.

• GAAP EPS rose to $10.30, while adjusted EPS increased to $11.58.
• Revenue reached $32.112 billion, up from $29.611 billion in Q1 2024.

Martin Marietta reported a strong start to 2025 with record first-quarter consolidated gross profit, gross margin, Adjusted EBITDA, and Adjusted EBITDA margin, driven by pricing momentum, cost discipline, and acquisition contributions. Infrastructure demand remains a key driver, with expectations for continued growth supported by federal and state investments.

• Consolidated revenues increased 8% to $1.35 billion.
• Aggregates gross profit per ton increased over 16%, driving record aggregates profitability.

VICI Properties achieved solid operational results with increased AFFO and total revenue, supported by strategic investments, despite a drop in net income driven by non-cash credit loss allowances.

• Revenue reached $984,204,000, up from $951,481,000 in Q1 2024.
• Net income was $543,607,000, impacted by an $80,000,000 CECL allowance shift.

eBay delivered slightly higher revenue and earnings, supported by growth in GMV, continued operational efficiency, and advancements in AI-driven platform features.

• Revenue reached $2.6 billion, up 1% year-over-year.
• GAAP EPS was $1.06; Non-GAAP EPS was $1.38.

AvalonBay reported robust financials in Q1 2025, driven by stable residential performance, key acquisitions in Texas, and strategic capital market activity. The company also reaffirmed its full-year guidance and remains well-positioned with a strong development pipeline and balance sheet.

• EPS reached $1.66 while Core FFO per share increased to $2.83
• Residential revenue rose to $693.1 million, up from $672.8 million in Q1 2024

Ansys delivered solid Q1 2025 results, achieving $504.9M in revenue and a significant increase in both GAAP and non-GAAP EPS, while operating cash flow and margins remained robust.

• Revenue reached $504.9 million, up 8.2% YoY
• GAAP EPS rose to $0.59 and non-GAAP EPS to $1.64

Tradeweb achieved record revenue of $509.7M and net income of $168.3M in Q1 2025, fueled by surging trading volumes and robust performance in rates, credit, and money markets.

• Revenue reached a record $509.7M, up 24.7% YoY
• Average daily trading volume hit $2.5 trillion, up 33.7% YoY

CGI delivered a strong Q2 FY2025, achieving over CA$4 billion in revenue, driven by robust bookings and a resilient client base. Net income and EPS both increased, underscoring consistent operational performance.

• Revenue reached CA$4.02 billion, up 7.6% YoY.
• Net income rose slightly to CA$429.7 million.

American Water delivered a strong Q1 2025 performance, with EPS rising to $1.05 and revenues increasing due to successful rate cases and infrastructure investments across its regulated businesses.

• EPS rose to $1.05, up from $0.95 in Q1 2024.
• Revenue reached $1.142 billion, reflecting a $121 million increase YoY.

PPL Corporation delivered a strong Q1 2025 performance, with increased earnings and revenue driven by favorable weather and higher sales volumes across its regulated segments.

• Reported EPS was $0.56, with adjusted EPS of $0.60.
• Net income rose to $414 million, up from $307 million a year ago.

Markel Group saw a drop in overall revenue and operating income in Q1 2025, mainly due to unfavorable equity market movements and $80.6 million in underwriting losses from California wildfires. Net investment income increased, and the insurance segment showed resilience despite challenges.

• Total revenue dropped to $3.4B from $4.47B due to equity market declines.
• Net income was $347.7M, significantly lower than Q1 2024.

PTC posted solid Q2 2025 performance with revenue, EPS, and ARR all exceeding expectations, alongside robust free cash flow and ongoing share repurchases.

• Revenue grew to $636 million, above the top end of guidance.
• EPS rose 42% year over year to $1.35.

Western Digital delivered a solid quarter with $2.29B in revenue and over $750M in net income, aided by higher gross margins and strength in the cloud segment.

• Revenue reached $2.29B, up 31% year-over-year.
• Net income surged to $755M on a GAAP basis.

Tenaris delivered a stable Q1 2025, maintaining earnings per share and net income at prior-quarter levels despite a year-over-year revenue decline. EBITDA improved on a comparable basis, and free cash flow was strong thanks to a reduction in working capital.

• Revenue totaled $2.92 billion, down 15% year-over-year.
• Net income held steady at $518 million compared to Q4 2024.

International Paper posted a net loss of $105 million for Q1 2025, driven by significant one-time charges, including restructuring and acquisition-related costs. However, the company's adjusted earnings were positive, and revenue saw a strong increase year-over-year, supported by the DS Smith acquisition.

• Net sales rose to $5.9 billion, up from $4.6 billion in Q1 2024.
• Reported a net loss of $105 million due to accelerated depreciation and restructuring charges.

EMCOR Group delivered strong first-quarter results driven by record revenue and EPS, alongside solid contributions from its recent acquisition of Miller Electric.

• Revenue reached a record $3.87 billion, up from $3.43 billion last year.
• Net income rose to $240.7 million, with adjusted EPS at $5.41.

AerCap posted robust Q1 2025 results, driven by solid demand in aviation leasing and asset sales. Net income reached $643 million with adjusted EPS of $3.68, and total revenue rose slightly year-over-year. The company raised full-year EPS guidance and approved a $500 million share repurchase program.

• Net income was $643 million and adjusted net income was $679 million.
• Revenue increased to $2.077 billion, driven by stronger asset sales and other income.

Invitation Homes reported solid Q1 2025 financials, driven by stable occupancy, positive renewal rent growth, and flat operating expenses across its same-store portfolio.

• Revenue grew to $674,479,000 driven by rental and property income.
• Net income rose to $165,517,000, reflecting increased revenues and gains on property sales.

The company posted a net income of $805 million and maintained robust EBITDA per tonne, supported by record mining operations in Liberia and improved performance in North America, despite seasonally weak performance in Brazil and Europe.

• Returned to profitability with $805M net income after a loss in Q4 2024.
• Record iron ore production and shipments in Liberia boosted mining performance.

Yum China reported revenue of $3.0 billion and net income of $292 million in Q1 2025. Same-store sales returned to prior-year levels for the first time since Q1 2024. Digital and delivery channels continued to perform strongly, while restaurant margins expanded across both KFC and Pizza Hut.

• Same-store sales reached 100% of prior-year levels, marking full recovery since Q1 2024.
• Digital ordering accounted for 93% of total company sales.

ICON plc reported a challenging first quarter of 2025 with revenue and bookings below expectations due to market volatility and delays in customer decision making. Despite revenue pressure, adjusted EBITDA margin and EPS were in line with expectations due to cost control. Full-year 2025 guidance was updated, primarily excluding two large next-generation COVID vaccine trials.

• Net business wins for the quarter were $2,022 million, resulting in a net book-to-bill ratio of 1.01.
• Closing backlog increased by 0.3% from Q4 2024 and 6.0% from Q1 2024, reaching $24.7 billion.

The company delivered a strong Q1 2025, achieving record revenues of $794.4 million, driven by growth in Tyvaso DPI and expanded market presence in pulmonary hypertension treatments.

• Revenue reached a record $794.4M, led by Tyvaso product growth.
• Net income rose to $322.2M despite higher R&D and SG&A expenses.

XPO delivered stable financial results for Q1 2025 despite a decline in revenue. The company enhanced its operational performance, maintained strong adjusted EPS, and achieved continued productivity gains within its North American LTL segment.

• Adjusted EPS reached $0.73 despite a 3.2% decline in revenue.
• Net income increased slightly to $69 million from $67 million year-over-year.

Everest posted a net income of $210 million for Q1 2025, down sharply from the prior year, driven by heavy catastrophe losses primarily from California wildfires. Operating income and investment performance remained resilient, reflecting disciplined risk underwriting and growth in specialty lines.

• Net income was $210 million, significantly down from Q1 2024's $733 million due to high catastrophe losses.
• Everest incurred $472 million in catastrophe losses, primarily from California wildfires.

Brookfield Infrastructure delivered a strong Q1 2025, with FFO rising to $646M driven by inflation-linked contracts, higher utilization in midstream and data segments, and over $1.6B in capital recycling proceeds.

• Funds From Operations (FFO) increased to $646 million, up from $615 million a year earlier.
• Net income declined to $125 million from $170 million due to higher borrowing costs and mark-to-market losses.

Sprouts Farmers Market had a strong Q1 2025 with a 19% increase in revenue, a significant rise in net income, and healthy comparable store sales growth, reflecting strong customer engagement and operational efficiency.

• Revenue grew 19% year-over-year to $2.24 billion.
• Comparable store sales increased 11.7%.

The company delivered a strong Q1 2025 with increased revenue, net income, and adjusted EPS. PitchBook and Morningstar Credit fueled growth, supported by recent acquisitions.

• Revenue grew 7.2% YoY to $581.9M, with organic growth at 9.1%
• Net income rose to $78.5M with adjusted EPS increasing to $2.23

Amcor delivered Q3 2025 results featuring stable revenue and EPS performance amid challenging market conditions. The quarter was marked by the early closure of the Berry Global merger, laying the groundwork for future synergies.

• Revenue reached $3.33 billion, down 2% year-over-year on a reported basis.
• GAAP Net Income totaled $196 million, with adjusted EPS at $0.18.

The company delivered one point of organic revenue growth and improved gross margins driven by cost reductions and supply chain efficiencies, although total revenue declined due to divestitures and currency impacts.

• Revenue was $3.7446 billion, down 3% due to divestitures and currency, but organic growth was +1%.
• Adjusted EPS reached $0.75, up from $0.56 in Q1 2024.

UDR saw strong demand in Q1 2025, resulting in higher Net Income and better-than-expected Same-Store growth, supported by operational enhancements and portfolio strength.

• Net Income increased to $75.5M, up from $41.9M in Q1 2024.
• FFO per share was $0.58, slightly below last year's $0.60.

Clean Harbors delivered a strong start to 2025 with $1.43B in revenue and $58.7M in net income, supported by robust demand in disposal and recycling services and a strong performance from its new Kimball incinerator.

• Revenue increased 4% year-over-year to $1.43 billion.
• Environmental Services segment led with strong Field Services growth and incineration utilization of 88%.

Host Hotels delivered a solid Q1 2025, with $1.59B in revenue and $251M in net income. Comparable hotel EBITDA reached $504M, driven by strength in Miami, Phoenix, and Florida Gulf Coast. Adjusted EPS (FFO per share) was $0.64.

• Generated $1.59B in total revenue with strong performance across domestic properties.
• Reported net income of $251M and comparable hotel EBITDA of $504M.

Service Corporation International delivered solid Q1 2025 results with revenue and EPS growth supported by strong funeral services performance, cost management, and improved operating cash flow.

• Adjusted EPS grew 8% year-over-year to $0.96.
• Revenue increased to $1.0742 billion, up from $1.0454 billion last year.

Coca-Cola Consolidated saw a modest decline in net sales and profitability in Q1 2025, impacted by two fewer selling days and volume pressures, particularly in the Still category. However, adjusted EPS remained strong and operating cash flow improved.

• Net income dropped to $103.6M, down from $165.7M in Q1 2024.
• Volume declined 6.6%, with the Easter shift and DSD distribution change impacting performance.

Antero Resources reported strong financial results for the first quarter of 2025, with significant increases in net income and adjusted EBITDAX compared to the prior year period. The company benefited from premium natural gas and NGL price realizations, driven by its firm transportation capacity to Gulf Coast LNG facilities and firm sales agreements for LPG.

• Net income increased significantly to $208 million, up from $23 million in the prior year period.
• Adjusted Net Income rose to $247 million, compared to $8 million in the first quarter of 2024.

Annaly Capital delivered stable earnings for Q1 2025, supported by a resilient agency portfolio and increased dividend payouts, while maintaining a defensive position amid market volatility.

• GAAP EPS was $0.15; non-GAAP EPS (EAD) remained strong at $0.72
• Net income attributable to common stockholders was $87,067,000

Lincoln Electric delivered a stable Q1 2025 with $1.00B in revenue, record cash flow, and solid adjusted operating margins, despite a slight decline in net income and EPS from the prior year.

• Revenue reached $1.004 billion, up 2.4% year-over-year, driven by acquisitions.
• Adjusted EPS was $2.16, slightly down from $2.23 last year.

Pilgrim’s Pride delivered solid performance in Q1 2025, driven by growth in the U.S. Fresh and Prepared Foods segments, improved operational efficiencies, and expanding partnerships across all regions.

• Net sales reached $4.46 billion, up from $4.36 billion last year.
• Net income rose to $296.03 million, with adjusted EPS at $1.31.

Penske Automotive Group delivered strong performance in Q1 2025 with a 2% increase in revenue to $7.6 billion, driven by strength in service and parts, consistent gross margins, and improved operational efficiency. Net income rose 14% to $244.3 million while adjusted EPS climbed to $3.39.

• Revenue reached a record $7.6 billion, up 2% from Q1 2024.
• Net income increased 14% to $244.3 million.

Evercore delivered a solid performance in Q1 2025, driven by strong advisory revenue and notable transactions, while benefiting from favorable tax impacts and increased client activity.

• Net revenues rose 20% YoY to $694.8M on a GAAP basis.
• Net income attributable to Evercore Inc. jumped to $146.2M from $85.7M.

Albemarle delivered $1.08B in revenue and $41M in net income in Q1 2025. The company faced lower pricing in its Energy Storage segment but benefited from strong performance in Specialties and Ketjen. It maintained its FY2025 outlook despite macro headwinds and market volatility.

• Revenue fell 21% YoY primarily due to lower lithium pricing in Energy Storage.
• Net income increased to $41M, up significantly from $2M in Q1 2024.

Globe Life Inc. reported a net income of $3.01 per diluted common share and net operating income of $3.07 per diluted common share for the first quarter of 2025, exceeding management's expectations. The company also repurchased 1.5 million shares of common stock for $177 million.

• Net income per share increased by 13% and net operating income per share increased by 10% over the year-ago quarter.
• Life underwriting margin increased 9% over the year-ago quarter.

MGM Resorts International reported a slight decrease in consolidated net revenues and net income in the first quarter of 2025 compared to the prior year, primarily due to the absence of the Super Bowl in Las Vegas this year. Despite this, the company achieved strong results across its portfolio, including positive EBITDA performance at BetMGM and record Las Vegas Strip occupancy and slot win. MGM also announced a new $2 billion share repurchase program.

• Consolidated net revenues decreased by 2% to $4.3 billion.
• Net income attributable to MGM Resorts was $149 million, down from $217 million in the prior year quarter.

DT Midstream, Inc. announced strong first quarter 2025 results, with reported net income and operating earnings of $108 million, or $1.06 per diluted share, and adjusted EBITDA of $280 million. The company also declared a $0.82 per share dividend.

• Reported net income for Q1 2025 was $108 million, or $1.06 per diluted share.
• Operating Earnings for Q1 2025 were $108 million, or $1.06 per diluted share.

Confluent reported solid first-quarter 2025 results, with total revenue up 25% year-over-year, driven by strong subscription revenue growth of 26%. The company also achieved non-GAAP operating income and positive adjusted free cash flow, demonstrating improved profitability and financial health.

• Total revenue reached $271.1 million, a 25% increase year-over-year.
• Subscription revenue grew 26% year-over-year to $260.9 million.

FTAI Aviation Ltd. reported strong financial results for the first quarter of 2025, with net income attributable to shareholders reaching $89.9 million and adjusted EBITDA at $268.6 million. The company also declared a cash dividend of $0.30 per ordinary share.

• Net Income Attributable to Shareholders increased to $89.9 million.
• Adjusted EBITDA reached $268.6 million, with Aerospace Products Adjusted EBITDA at $131 million.

Generac reported a 6% increase in net sales for the first quarter of 2025, driven primarily by strong growth in residential product sales. Adjusted EBITDA margin improved significantly compared to the prior year. The company updated its full-year 2025 guidance for net sales and adjusted EBITDA margin, slightly lowering the ranges due to external uncertainties.

• Net sales increased by 6% to $942.1 million in Q1 2025 compared to the prior year.
• Residential product sales grew robustly by 15% to $494.2 million, while Commercial & Industrial sales decreased by 5% to $337.4 million.

Parsons reported record first quarter 2025 results, including record revenue of $1.6 billion, a 1% increase year-over-year, and record net income of $66 million, a 67% increase. Diluted EPS increased to $0.60, and Adjusted EBITDA rose 5% to $149 million with a margin of 9.6%. The company achieved a strong book-to-bill ratio of 1.1x and a record total backlog of $9.1 billion, while reiterating its fiscal year 2025 guidance.

• Record Q1 2025 revenue of $1.6 billion, a 1% increase year-over-year.
• Record Q1 2025 net income of $66 million, a 67% increase year-over-year.

OGE Energy Corp. reported strong first-quarter 2025 results with a substantial increase in net income driven by higher operating revenues from capital investment recovery and load growth, as well as lower operation and maintenance expenses. Diluted earnings per share rose to $0.31 from $0.09 in the prior year.

• Net income increased to $62.7 million in Q1 2025, up from $18.6 million in Q1 2024.
• Diluted earnings per share rose to $0.31 in Q1 2025, compared to $0.09 in Q1 2024.

Wingstop reported strong results for the first quarter of fiscal year 2025, with significant increases in net income and total revenue compared to the prior year. The company also achieved record net new unit openings and strong system-wide sales growth.

• Net income increased significantly to $92.3 million in Q1 2025 from $28.7 million in Q1 2024.
• Total revenue grew to $171.1 million in Q1 2025, up from $145.8 million in the prior year.

Alamos Gold Inc. reported a solid first quarter in 2025, with production meeting the low end of guidance. Revenue increased significantly driven by higher realized gold prices and the inclusion of the Magino mine. While costs were higher than the prior year period, primarily due to the inclusion of Magino and increased share-based compensation, the company remains on track to meet full-year production guidance and expects costs to decrease in the remainder of the year. The company continues to advance its high-return growth projects and maintains a strong liquidity position.

• Gold production in Q1 2025 was 125,000 ounces, meeting the low end of quarterly guidance.
• Revenue increased by 20% to $333.0 million in Q1 2025, primarily due to higher realized gold prices and the inclusion of the Magino mine.

Wyndham Hotels & Resorts delivered a solid start to the year with strong system growth, record first-quarter openings, and continued expansion across every region. The company reported increased net income and adjusted diluted EPS, while also returning capital to shareholders through share repurchases and dividends.

• Global openings of 15,000 rooms increased 13% year-over-year, a record first quarter.
• System-wide rooms grew 4% year-over-year to a record 907,200 rooms.

Antero Midstream reported strong first quarter 2025 results with increased net income and adjusted EBITDA, driven by higher gathering and processing volumes and reduced interest expense. The company continued its focus on returning capital to shareholders through dividends and share repurchases.

• Net Income increased by 19% per share to $121 million, or $0.25 per diluted share.
• Adjusted EBITDA grew by 3% to $274 million.

WEX reported a 2% decrease in total revenue to $636.6 million in the first quarter of 2025 compared to the prior year, primarily due to unfavorable impacts from fuel prices and foreign exchange rates. GAAP net income increased to $71.5 million, while adjusted net income decreased to $138.4 million. The company repurchased $790 million of its common stock.

• Total revenue for Q1 2025 decreased 2% year-over-year to $636.6 million.
• Q1 GAAP net income was $71.5 million, or $1.81 per diluted share.

FMC Corporation's first quarter 2025 revenue was $791 million, a 14% decrease from Q1 2024, with a GAAP net loss of $16 million. Adjusted EBITDA was $120 million, down 25% year-over-year, and adjusted earnings per diluted share were $0.18, a 50% decrease.

• First quarter revenue of $791 million was down 14% versus Q1 2024, and down 10% organically.
• Consolidated GAAP net loss was $16 million, a decline of $13 million versus Q1 2024.

Cognex reported a 2% year-on-year revenue increase to $216 million, or 5% on a constant-currency basis, driven by strong performance in Logistics and Semiconductor businesses. Operating expenses declined 7%, leading to an 84% increase in operating income to $26.1 million and a 99% rise in diluted EPS to $0.14. The company also announced Matt Moschner will succeed Robert J. Willett as CEO on June 27, 2025.

• Revenue grew 2% year-on-year (5% on a constant-currency basis), driven by strength in Logistics and Semiconductor businesses.
• Operating expenses declined 7% year-on-year, primarily due to cost management, leading to an 84% increase in GAAP operating income.

SiteOne Landscape Supply reported a solid start to 2025 with a 4% increase in total sales and a 6% growth in Adjusted EBITDA for the first quarter. Despite a 1% decline in Organic Daily Sales due to a later spring selling season and lower commodity prices, the company achieved good SG&A leverage in its base business and continued its acquisition strategy.

• Net sales increased by 4% to $939.4 million in Q1 2025 compared to $904.8 million in Q1 2024.
• Organic Daily Sales decreased by 1% in Q1 2025 due to a later spring, lower commodity prices, and a softer repair and remodel market.

Waystar Holding Corp. delivered a strong first quarter in 2025, achieving 14% year-over-year revenue growth to $256.4 million. The company reported a net income of $29.3 million and an adjusted EBITDA of $107.7 million, demonstrating robust profitability with net income margins exceeding 10% and adjusted EBITDA margins over 40%.

• Revenue increased by 14% year-over-year, reaching $256.4 million.
• Net income stood at $29.3 million, with a net income margin of 11%.

MGIC Investment Corporation reported strong first quarter 2025 financial results with net income and adjusted net operating income showing increases compared to the prior year. The company maintained market leadership with robust capital and liquidity, while also executing a reinsurance transaction and continuing share repurchases.

• Net income for Q1 2025 was $185.5 million, up from $174.1 million in Q1 2024.
• Adjusted net operating income for Q1 2025 was $185.2 million, an increase from $178.4 million in Q1 2024.

Clearwater Analytics reported a strong first quarter for 2025 with significant year-over-year growth in revenue and Annualized Recurring Revenue. The company maintained high retention rates and saw substantial increases in net income and adjusted EBITDA, indicating improved profitability and operational efficiency. The quarter also marked the completion of several strategic acquisitions aimed at expanding their platform capabilities.

• Record quarterly revenue reached $126.9 million, a 23.5% increase from the first quarter of 2024.
• Annualized Recurring Revenue grew to $493.9 million as of March 31, 2025, up 22.7% year-over-year.

Credit Acceptance reported a significant increase in GAAP net income in Q1 2025 compared to the prior year, driven by increased finance charges and a decrease in the provision for credit losses. However, adjusted net income saw a slight decrease, and economic profit declined more substantially due to lower adjusted return on capital and increased cost of capital.

• GAAP net income increased by 65.3% to $106.3 million.
• Adjusted net income decreased by 2.2% to $114.8 million.

Oshkosh Corporation reported first quarter 2025 net income of $112.2 million, or $1.72 per diluted share, on sales of $2.31 billion. Adjusted earnings per share were $1.92. Consolidated sales decreased 9.1% primarily due to lower sales volume in the Access segment, partially offset by improved pricing in the Vocational segment.

• First quarter 2025 net income was $112.2 million, a decrease from $179.4 million in the prior year.
• Diluted earnings per share for Q1 2025 were $1.72, down from $2.71 in Q1 2024.

National Fuel Gas Company reported strong second quarter fiscal year 2025 results, with a 32% increase in GAAP net income per share and a 34% increase in adjusted operating results per share compared to the prior year. This performance was driven by higher natural gas price realizations, record production from the Exploration and Production segment, and significant earnings growth in the Utility segment due to a new rate settlement.

• GAAP net income was $216 million, or $2.37 per share, a 32% increase per share year-over-year.
• Adjusted operating results were $218 million, or $2.39 per share, a 34% increase per share year-over-year.

Etsy, Inc. reported first quarter 2025 results with consolidated revenue of $651.2 million, up 0.8% year-over-year, and a consolidated net loss of $52.1 million. Consolidated GMS was $2.8 billion, down 6.5% year-over-year. Adjusted EBITDA was $171.1 million.

• Consolidated GMS was $2.8 billion, down 6.5% year-over-year and down 5.7% on a currency-neutral basis.
• Consolidated revenue was $651.2 million, up 0.8% versus the first quarter of 2024, with a take rate of 23.3%.

Federal Signal Corporation delivered a robust first quarter in 2025, with net sales increasing by 9% to $464 million and operating income rising by 21% to $65.7 million. The company achieved record orders of $568 million and a record backlog of $1.10 billion, driven by strong demand across its segments. Adjusted EPS grew by 19% to $0.76, and the full-year adjusted EPS outlook was raised.

• Net sales increased by 9% year-over-year to $464 million, with organic growth of 7%.
• Operating income improved by 21% year-over-year, reaching $65.7 million.

UMB Financial Corporation reported significant increases in net income, revenue, and assets in the first quarter of 2025, largely driven by the acquisition of Heartland Financial. While GAAP net income and EPS decreased compared to the previous year, operating metrics showed strong improvement, and the merger positively impacted net interest margin and deposit growth.

• GAAP net income available to common shareholders was $79.3 million, or $1.21 per diluted common share.
• Net operating income available to common shareholders was $168.9 million, or $2.58 per diluted common share.

Reynolds Consumer Products reported a decrease in net revenues and net income for the first quarter of 2025 compared to the prior year, primarily driven by lower retail volume and increased costs. Adjusted Net Income and Adjusted EPS remained unchanged, while Adjusted EBITDA decreased. The company successfully refinanced its term loan facility, extending its maturity.

• Net Revenues decreased by $15 million to $818 million compared to Q1 2024.
• Net Income decreased by $18 million to $31 million compared to Q1 2024, primarily due to refinancing and CEO transition costs.

Guardant Health reported strong revenue growth of 21% in Q1 2025, driven by solid performance in oncology, screening, and biopharma & data segments. The company also increased its full-year 2025 revenue guidance.

• Total revenue increased 21% to $203.5 million compared to the prior year period.
• Oncology revenue grew 20% to $150.6 million, with a 25% increase in oncology test volume.

Silgan Holdings Inc. delivered a record first quarter in 2025, with net sales reaching $1.47 billion and adjusted diluted EPS increasing by 19% to $0.82. The strong performance was driven by organic volume growth across all segments, outstanding operating performance, and the successful integration of the Weener acquisition.

• Reported organic volume growth in all segments.
• Achieved record first quarter adjusted EPS and adjusted EBIT.

Littelfuse exceeded expectations in the first quarter of 2025, driven by strong performance in the Electronics and Industrial segments. The company reported improved bookings and expanded operating margin, while navigating an uncertain economic environment.

• Net sales increased by 3.5% year-over-year to $554.3 million.
• Operating income saw a significant increase of 27.7% to $70.2 million.

The Hanover reported strong first quarter 2025 results with net income of $128.2 million and operating income of $141.8 million, resulting in net and operating return on equity of 17.4% and 17.2%, respectively. The combined ratio improved to 94.1%, and net premiums written grew by 3.9%.

• Achieved a combined ratio of 94.1%, with an ex-catastrophe combined ratio of 87.8%.
• Reported net income of $128.2 million ($3.50 per diluted share) and operating income of $141.8 million ($3.87 per diluted share).

Comstock Resources reported improved financial results for the first quarter of 2025, primarily driven by higher natural gas prices. The company achieved total natural gas and oil sales of $405 million and generated $239 million in operating cash flow. Despite a net loss due to unrealized hedging losses, adjusted net income was positive at $53.8 million. Comstock also resumed completion activity and successfully extended its Western Haynesville acreage with a promising step-out well.

• Higher natural gas prices significantly improved financial results in Q1 2025.
• Natural gas and oil sales, including realized hedging impacts, totaled $405 million.

Timken reported a decrease in first-quarter 2025 sales and net income compared to the prior year, driven by lower end-market demand and unfavorable foreign currency translation. Despite the challenges, the company posted solid results and generated positive free cash flow, while returning cash to shareholders through dividends and share repurchases.

• First-quarter 2025 sales were $1.14 billion, down 4.2% year-over-year.
• Net income for the quarter was $78.3 million, or $1.11 per diluted share.

Ionis reported a 10% increase in total revenue for the first quarter of 2025 compared to the same period last year, driven by higher commercial revenue from the launch of TRYNGOLZA and increased royalty revenue from SPINRAZA and WAINUA. The company also increased its full-year 2025 financial guidance.

• Total revenue increased by 10% to $132 million in Q1 2025 compared to $119 million in Q1 2024.
• TRYNGOLZA, in its first full quarter since U.S. approval, generated $6 million in net product sales.

Schneider National, Inc. delivered first quarter 2025 results in line with expectations, navigating a fluid operating environment. Revenues excluding fuel surcharge increased 8% year over year, with all reportable segments showing improvement in revenues, earnings, and margin. The company saw increased Dedicated truck count, growth in Intermodal volumes with improved margins, and improved earnings and margin in Logistics despite lower volumes.

• Operating revenues increased by 6% to $1.4 billion in Q1 2025 compared to $1.3 billion in Q1 2024.
• Income from operations rose significantly by 47% to $42.1 million in Q1 2025 from $28.7 million in Q1 2024.

Enact Holdings, Inc. reported strong results for the first quarter of 2025, with GAAP Net Income of $166 million and Adjusted Operating Income of $169 million. The company delivered diluted EPS of $1.08 and adjusted operating EPS of $1.10, maintained a strong financial position, and announced increased capital returns to shareholders.

• GAAP Net Income reached $166 million, or $1.08 per diluted share.
• Adjusted Operating Income was $169 million, or $1.10 per diluted share.

Radian Group Inc. reported a strong start to 2025, with net income of $145 million and diluted EPS of $0.98, consistent with the prior year. The company saw an 11% year-over-year growth in book value per share and maintained a robust primary mortgage insurance in force of $274.2 billion. Capital return to shareholders was significant, with $207 million in share repurchases and $37 million in dividends paid.

• First quarter net income was $145 million, or $0.98 per diluted share.
• Book value per share grew 11% year-over-year to $32.48.

Bloom Energy reported record Q1 revenue of $326.0 million, a 38.6% increase year-over-year, driven by strong product and service revenue growth. The company also saw significant improvements in both GAAP and Non-GAAP gross margin and operating income, reiterating its full-year 2025 guidance.

• Achieved record Q1 revenue of $326.0 million, representing 38.6% year-over-year growth.
• Gross margin improved significantly to 27.2% compared to 16.2% in the prior year quarter.

Gates Industrial reported a slight decrease in net sales for the first quarter of 2025 compared to the prior year, totaling $847.6 million. However, core revenue saw a positive growth of 1.4%. Net income attributable to shareholders was $62.0 million, and adjusted net income per diluted share was $0.36. The company reiterated its full-year 2025 guidance.

• First-quarter net sales were $847.6 million, a 1.7% decrease year-over-year.
• Core revenue growth was positive at 1.4%, driven by strength in Auto Replacement and Personal Mobility end markets.

Magnolia Oil & Gas Corporation reported a strong first quarter in 2025 with net income of $106.6 million and diluted EPS of $0.54. The company saw a 14% increase in total average daily production and generated $110.5 million in free cash flow. Capital expenditures for drilling and completions were $130.4 million, and the company ended the quarter with a cash balance of $247.6 million.

• Net income for Q1 2025 was $106.6 million, a 9% increase from Q1 2024.
• Diluted earnings per share increased by 17% to $0.54 in Q1 2025.

Lancaster Colony reported a mixed third fiscal quarter for 2025, with consolidated net sales declining by 2.9% to $457.8 million, primarily due to the exit from perimeter-of-the-store bakery product lines and a shift in Retail sales due to the later Easter holiday. Despite lower sales volume, the company achieved record gross profit of $106.0 million and record operating income of $49.9 million, driven by cost savings, modest cost deflation, and the absence of prior-year restructuring charges. Diluted EPS increased significantly to $1.49 from $1.03 in the prior year.

• Consolidated net sales decreased 2.9% to $457.8 million, impacted by the exit of bakery product lines and a shift in Retail sales due to the later Easter holiday.
• Gross profit reached a record $106.0 million, an increase of $1.5 million, benefiting from cost savings and modest cost deflation.

Rush Enterprises reported revenues of $1.85 billion and net income of $60.3 million for the first quarter of 2025, with diluted earnings per share of $0.73. The company faced challenging market conditions, including a freight recession and economic uncertainty, which impacted new truck sales. Despite these headwinds, the company's focus on strategic initiatives and a diversified customer base, particularly in vocational and public sectors, helped offset some of the weakness.

• Revenues decreased slightly to $1.85 billion in Q1 2025 from $1.87 billion in Q1 2024.
• Net income fell to $60.3 million in Q1 2025 from $71.6 million in Q1 2024.

Avnet reported third quarter fiscal year 2025 results with sales of $5.3 billion and diluted EPS of $1.01, exceeding expectations. Adjusted diluted EPS was $0.84. The company generated $141 million in cash flow from operations during the quarter and returned $129 million to shareholders through share repurchases and dividends.

• Sales for the third quarter were $5.3 billion, down from $5.7 billion in the prior year quarter.
• Diluted EPS was $1.01, an increase from $0.97 in the prior year quarter.

ScottsMiracle-Gro reported a decrease in total company sales for the second quarter of fiscal 2025, primarily due to a colder start to the lawn and garden season and non-repeating sales from the prior year. However, the company saw significant improvement in both GAAP and non-GAAP adjusted gross margins, driven by lower costs and better product mix. This margin recovery led to an increase in non-GAAP adjusted EBITDA and a substantial improvement in net income compared to the prior year. The company reaffirmed its full-year guidance for the U.S. Consumer segment, adjusted gross margin, adjusted EBITDA, and free cash flow.

• Total Company sales for Q2 2025 were $1.42 billion, a 7% decrease from the prior year.
• GAAP gross margin rate improved to 38.6% and non-GAAP adjusted gross margin rate improved to 39.1% in Q2 2025.

Newell Brands reported a net sales decline of 5.3% to $1.6 billion in the first quarter of 2025. The company posted a net loss of $37 million, or $0.09 per diluted share. Normalized net loss was $6 million, or $0.01 per diluted share. Gross margin improved to 32.1% and normalized gross margin was 32.5%. The company affirmed its full year 2025 outlook for net sales, normalized operating margin, and normalized EPS.

• Net sales in Q1 2025 were $1.6 billion, a decrease of 5.3% year-over-year.
• Reported net loss was $37 million, resulting in a diluted loss per share of $0.09.

Independence Realty Trust delivered a solid start to 2025 with Q1 CFFO per share of $0.27 and same-store NOI growth of 2.7%, meeting expectations. The company saw solid occupancy gains and rental rate growth, continued its value-add program with strong ROI, and strategically expanded its presence in Indianapolis while exiting Birmingham. They also strengthened their balance sheet and liquidity, affirming their full-year 2025 Core FFO per share guidance.

• Q1 2025 EPS was $0.04 and CFFO per share was $0.27, aligning with expectations.
• Same-store portfolio Net Operating Income increased by 2.7% year-over-year, driven by a 100 basis point increase in occupancy to 95.4% and a 0.9% increase in average rental rate.

Advanced Energy Industries, Inc. announced strong first quarter 2025 financial results, with revenue reaching $404.6 million, aligning with the high end of their guidance. The company saw record revenue in Data Center Computing, which more than doubled year-over-year, and maintained strength in the semiconductor market. GAAP EPS from continuing operations was $0.65, and non-GAAP EPS was $1.23, also towards the high end of guidance.

• Revenue for Q1 2025 was $404.6 million, towards the high end of the company's guidance.
• Data Center Computing revenue achieved a quarterly record, more than doubling year-over-year.

Hess Midstream LP reported a net income of $161.4 million for the first quarter of 2025, with Adjusted EBITDA of $292.3 million and Adjusted Free Cash Flow of $190.7 million. The company increased its quarterly cash distribution to $0.7098 per Class A share and completed a $100.0 million repurchase of Class B units. Throughput volumes saw increases across gas processing, oil terminaling, and water gathering compared to the prior-year quarter.

• Net income for Q1 2025 was $161.4 million, with net cash provided by operating activities at $202.4 million.
• Adjusted EBITDA reached $292.3 million and Adjusted Free Cash Flow was $190.7 million.

Axos Financial reported a decrease in net income and diluted EPS for the third fiscal quarter of 2025 compared to the prior year, despite an increase in net interest income. The decrease was primarily due to higher provision for credit losses and increased non-interest expenses.

• Net income decreased by 5.0% to $105.2 million for the quarter ended March 31, 2025.
• Diluted EPS decreased by 5.2% to $1.81 for the quarter ended March 31, 2025.

Cactus, Inc. announced strong first quarter 2025 results with total revenues of $280.3 million and net income of $54.1 million. The company exceeded revenue expectations in both segments, driven by non-U.S. product sales in Spoolable Technologies and record product sales per rig in Pressure Control. Despite resilient margins, cash flow conversion was lower due to increased working capital and significant investments in a Vietnam supply chain facility.

• Total revenue reached $280.3 million, with operating income of $68.6 million.
• Net income was $54.1 million, resulting in diluted earnings per Class A share of $0.64.

Spire Inc. reported a net income of $209.3 million ($3.51 per diluted share) and adjusted earnings of $214.4 million ($3.60 per share) for its fiscal 2025 second quarter. The company reaffirmed its fiscal 2025 adjusted earnings guidance range of $4.40-$4.60, driven by growth in Gas Utility and Midstream segments.

• Second quarter net income was $209.3 million ($3.51 per diluted share), compared to $204.3 million ($3.58 per share) a year ago.
• Adjusted earnings for the second quarter were $214.4 million ($3.60 per share), an increase from $196.6 million ($3.45 per share) in the prior year.

Rayonier Inc. reported a first quarter net loss attributable to Rayonier of $3.4 million, or ($0.02) per share, on revenues of $82.9 million. This compares to a net income of $1.4 million, or $0.01 per share, on revenues of $113.7 million in the prior year quarter. The reclassification of New Zealand operations to discontinued operations significantly impacted the reported figures.

• First quarter net loss attributable to Rayonier was $3.4 million (($0.02) per share), with pro forma net loss of $2.7 million (($0.02) per share), and Adjusted EBITDA of $27.1 million.
• Full-year 2025 guidance was revised to account for discontinued operations treatment of New Zealand operations, with expected full-year net income attributable to Rayonier of $424 to $458 million ($2.71 to $2.93 per share), pro forma EPS of $0.34 to $0.41, and Adjusted EBITDA of $215 to $235 million.

Graham Holdings Company reported a 1% increase in revenue for the first quarter of 2025, reaching $1,165.9 million, up from $1,152.7 million in the prior year. Operating income saw a significant 34% rise to $47.5 million, compared to $35.4 million in the first quarter of 2024. Net income attributable to common shares, as reported, decreased substantially to $23.9 million ($5.45 per share) from $124.4 million ($27.72 per share) in the prior year, largely due to a significant interest expense related to the fair value adjustment of a mandatorily redeemable noncontrolling interest and lower net gains on marketable equity securities. Excluding these items and others, adjusted net income attributable to common shares was $51.0 million ($11.64 per share), a slight increase from $50.4 million ($11.24 per share) in the first quarter of 2024.

• Revenue increased by 1% to $1,165.9 million in Q1 2025.
• Operating income rose by 34% to $47.5 million compared to Q1 2024.

Blackbaud reported strong first quarter 2025 results with non-GAAP organic revenue growth of 5.8%. The company also made substantial progress towards improved profitability, with increases in both GAAP and non-GAAP operating margins, and reiterated its full-year 2025 financial guidance.

• GAAP total revenue was $270.7 million, a decrease of 3.1% year-over-year, primarily due to the divestiture of EVERFI.
• Non-GAAP organic revenue increased by 5.8% compared to the first quarter of 2024.

Tanger reported a solid first quarter for 2025 with strong operating metrics, including increased same center NOI and positive blended average rental rates. Net income decreased compared to the prior year period, impacted by an impairment charge.

• Net income available to common shareholders was $19.0 million, or $0.17 per share.
• Core Funds From Operations (Core FFO) available to common shareholders was $62.7 million, or $0.53 per share.

Alkami Technology, Inc. reported a robust first quarter for 2025, with significant increases in total revenue and Adjusted EBITDA. The company also announced the planned retirement of its CFO, Bryan Hill, effective by February 27, 2026, and provided positive financial guidance for the second quarter and full fiscal year 2025.

• GAAP total revenue increased by 28.5% to $97.8 million compared to the prior year.
• Adjusted EBITDA surged to $12.1 million from $3.8 million in the year-ago quarter.

Ashland reported a decrease in sales and net income in the second quarter of fiscal year 2025 compared to the prior year, significantly impacted by portfolio optimization initiatives. Despite a mixed demand environment, the company saw momentum in its cost savings program and anticipates accelerated financial impact from cost reduction and manufacturing optimization initiatives in the second half of the fiscal year.

• Sales decreased by 17% to $479 million, with portfolio optimization initiatives accounting for a 12% reduction.
• Net income was $31 million, down from $120 million in the prior year.

United States Lime & Minerals posted a 27.3% increase in revenue and a 52% increase in net income in Q1 2025, reflecting strong demand from construction and environmental sectors and improved pricing for lime and limestone products.

• Revenue rose 27.3% to $91.3 million, driven by higher volumes and prices for lime and limestone products.
• Net income increased 52% to $34.1 million, or $1.19 per diluted share.

Blackstone Mortgage Trust, Inc. reported a net loss of $351 thousand for the three months ended March 31, 2025, a significant decrease compared to a net income of $123,170 thousand in the same period last year. This was primarily driven by a decrease in income from loans and other investments and a substantial increase in expenses from real estate owned, partially offset by an increase in current expected credit loss reserve.

• Net loss for the quarter was $351 thousand, a significant decline from a net income of $123,170 thousand in the prior year period.
• Income from loans and other investments, net, decreased by $52,568 thousand, from $142,392 thousand in Q1 2024 to $89,824 thousand in Q1 2025.

Genworth Financial reported net income of $54 million and adjusted operating income of $51 million for the first quarter of 2025. The results were driven by strong performance in the Enact segment, while the Long-Term Care Insurance and Life and Annuities segments reported adjusted operating losses.

• Net income was $54 million, or $0.13 per diluted share.
• Adjusted operating income was $51 million, or $0.12 per diluted share.

Broadstone Net Lease, Inc. announced its operating results for the first quarter ended March 31, 2025, reporting a net income of $17.5 million, a significant decrease from the prior year, primarily due to a $58.7 million decrease in gain on sale of real estate. However, the company's adjusted funds from operations (AFFO) remained stable at $71.8 million, or $0.36 per diluted share. The company continued its investment activity, deploying $88.3 million into new property acquisitions and build-to-suit developments, and maintained a high leased occupancy rate of 99.1%.

• Net income decreased by 74.3% to $17.5 million, or $0.09 per share, primarily due to a $58.7 million decrease in gain on sale of real estate.
• Adjusted Funds From Operations (AFFO) remained consistent at $71.8 million, or $0.36 per diluted share.

Clearway Energy reported a net loss of $104 million in Q1 2025, an increase from the previous year, primarily due to higher interest expense. However, Adjusted EBITDA and CAFD saw increases, driven by contributions from growth investments. The company remains on track to meet its full-year financial guidance and is pursuing growth through fleet enhancements, repowerings, sponsor-offered dropdowns, and asset-centered M&A.

• Reported a Net Loss of $104 million for the first quarter of 2025.
• Achieved Adjusted EBITDA of $252 million and Cash Available for Distribution (CAFD) of $77 million in Q1 2025.

FormFactor reported a decrease in revenue and profitability in the first quarter of 2025 compared to the previous quarter and the same quarter last year. This was primarily attributed to lower demand for DRAM probe cards and Systems, partially impacted by export controls to China. Despite the sequential decline, the company's revenue and EPS were above the mid-point of their outlook range.

• Quarterly revenues were $171.4 million, a decrease of 9.6% sequentially and an increase of 1.6% year-over-year.
• GAAP net income was $6.4 million, or $0.08 per diluted share.

Warrior Met Coal reported a net loss in Q1 2025 compared to net income in Q1 2024, primarily due to significantly weaker steelmaking coal market conditions. Despite the challenging market, the company achieved increased sales and production volumes and maintained positive cash margins through strong cost performance.

• Net loss of $8.2 million in Q1 2025 compared to net income of $137.0 million in Q1 2024.
• Total revenues decreased to $299.9 million in Q1 2025 from $503.5 million in Q1 2024.

FCPT reported a strong first quarter in 2025, with rental revenue increasing by 8.4% to $63.5 million and net income attributable to common shareholders reaching $26.2 million. The company achieved its highest first quarter acquisition volume in company history, acquiring over $56 million in properties, and improved its liquidity to record levels while lowering its leverage profile.

• Rental revenue for Q1 2025 increased by 8.4% year-over-year to $63.5 million.
• Net income attributable to common shareholders for Q1 2025 was $26.2 million, or $0.26 per diluted share.

Albany International reported a decrease in revenue and net income for the first quarter of 2025 compared to the prior year, driven by lower sales in both Machine Clothing and Albany Engineered Composites segments. Despite the decline, the company reaffirmed its full-year 2025 guidance.

• Net revenues were $289 million, a decrease of 7.8% year-over-year.
• Net income attributable to the Company was $17 million ($0.56 per share), down from $27 million ($0.87 per share) in the prior year.

Mister Car Wash reported a solid start to 2025 with record first quarter revenue and EBITDA exceeding expectations. Net revenues increased 9% and comparable-store sales grew 6.0%, driven by strong retail business and continued growth in Unlimited Wash Club memberships.

• Net revenues increased 9% to $261.7 million.
• Comparable-store sales increased 6.0% during the quarter.

TTM Technologies delivered a strong first quarter in 2025, exceeding expectations with robust year-over-year revenue growth driven by demand in Aerospace and Defense, Data Center Computing, and Networking markets, particularly from generative AI. The company achieved a record high non-GAAP EPS for a first quarter and improved non-GAAP operating margins.

• Net sales for Q1 2025 were $648.7 million, a 14% increase compared to Q1 2024.
• GAAP net income was $32.2 million, or $0.31 per diluted share.

Newmark Group, Inc. announced strong first-quarter 2025 financial results, with total revenues increasing by 21.8% year-over-year to $665.5 million. The company saw double-digit gains across all major business lines, driven by increased activity in leasing and capital markets, and continued growth in recurring revenue businesses. Net income improved significantly, and adjusted earnings per share also saw a substantial increase.

• Total revenues increased by 21.8% to $665.5 million, reflecting robust growth across all major business lines.
• GAAP net income (loss) for fully diluted shares improved by 46.1% to $(8.8) million, and GAAP EPS improved by 44.4% to $(0.05).

Tandem Diabetes Care achieved record first quarter sales in Q1 2025, driven by strong worldwide growth and significant increases in pump shipments both domestically and internationally. The company also improved its adjusted EBITDA margin.

• Achieved record first quarter sales with worldwide growth of 22%.
• Increased pump sales in the United States by 19% on a GAAP basis and 17% on a non-GAAP basis.

InvenTrust Properties Corp. reported a net income of $6.8 million for the first quarter of 2025, an increase from $2.9 million in the same period of 2024. The company achieved a Nareit FFO of $0.48 per diluted share and Core FFO of $0.46 per diluted share, alongside a 6.1% growth in Same Property Net Operating Income.

• Net Income for Q1 2025 was $6.8 million, or $0.09 per diluted share, significantly up from $2.9 million, or $0.04 per diluted share, in Q1 2024.
• Nareit FFO per diluted share was $0.48, and Core FFO per diluted share was $0.46 for Q1 2025.

Dana Incorporated reported first-quarter 2025 financial results that were in line with expectations, including sales of $2.35 billion and net income of $25 million. The company maintained its full-year sales and adjusted EBITDA guidance ranges and is accelerating its cost-savings plan.

• Sales for the first quarter of 2025 totaled $2.35 billion, a decrease from $2.74 billion in the same period of 2024.
• Net income attributable to Dana was $25 million, or $0.17 per share, compared to $3 million, or $0.02 per share, in the first quarter of 2024.

MYR Group announced its first quarter 2025 financial results, reporting quarterly revenues of $833.6 million, a net income of $23.3 million, and EBITDA of $50.2 million. Backlog stood at $2.64 billion as of March 31, 2025.

• Quarterly revenues increased to $833.6 million, up $18.0 million from Q1 2024.
• Net income rose to $23.3 million, or $1.45 per diluted share, compared to $18.9 million, or $1.12 per diluted share, in Q1 2024.

Conmed's Q1 2025 performance showed a revenue increase to $321.3 million, driven by strong constant currency growth. Adjusted diluted EPS saw a significant increase compared to the prior year, despite a decrease in GAAP EPS.

• Total revenue for Q1 2025 was $321.3 million, an increase of 2.9% year over year.
• Constant currency revenue growth was 3.8% for Q1 2025.

OneSpaWorld delivered strong first quarter fiscal 2025 results, meeting the high end of its guidance, driven by strategic investments in cruise line and destination resort partnerships, innovation in guest experiences, and enhanced productivity. The company also announced a new $75 million share repurchase program and a quarterly dividend, reflecting confidence in its financial position and commitment to shareholder value.

• Total revenues increased 4% to $219.6 million in Q1 2025, up from $211.2 million in Q1 2024.
• Net income for Q1 2025 was $15.3 million, compared to $21.2 million in Q1 2024, which included a $7.7 million benefit from warrant liabilities.

The Chefs' Warehouse reported a strong start to 2025 with significant increases in net sales, GAAP net income, and adjusted net income per share for the first quarter compared to the previous year. Organic case count in the specialty category grew, while center-of-the-plate organic pounds sold saw a slight decrease. Gross profit and operating income also improved, driven by increased sales and price inflation.

• Net sales increased by 8.7% to $950.7 million in Q1 2025.
• GAAP net income rose significantly to $10.3 million in Q1 2025 from $1.9 million in Q1 2024.

The Vita Coco Company reported a 17% increase in net sales to $131 million in Q1 2025, primarily driven by a 25% growth in Vita Coco Coconut Water sales. Net income rose by $5 million to $19 million, and non-GAAP Adjusted EBITDA increased by $1 million to $23 million. The company reaffirmed its full-year 2025 outlook.

• Net sales increased 17% to $131 million.
• Vita Coco Coconut Water net sales grew by 25% globally, with Americas growing 24% and International growing 36%.

Enovix reported revenue of $5.1 million in Q1 2025, exceeding the midpoint of guidance. The company achieved positive gross margin for the second consecutive quarter and ended the quarter with $248.2 million in cash and cash equivalents. Key progress was made towards mass production readiness at Fab2 in Malaysia and customer qualification activities for smartphone batteries.

• First quarter 2025 revenue was $5.1 million, exceeding the midpoint of guidance.
• Achieved positive GAAP gross margin of $261 thousand for the second consecutive quarter.

Donnelley Financial Solutions (DFIN) reported a slight decrease in total net sales for the first quarter of 2025 compared to the previous year, primarily due to lower capital markets compliance volumes and Venue sales. However, the company achieved record first-quarter software solutions net sales and a significant increase in Adjusted EBITDA and Adjusted EBITDA margin, driven by favorable sales mix and cost control initiatives.

• Total net sales for Q1 2025 were $201.1 million, a 1.1% decrease from Q1 2024.
• Software solutions net sales reached a record $84.6 million in Q1 2025, up 5.4% year-over-year.

Connection reported a strong first quarter in 2025 with net sales increasing by 10.9% year-over-year to $701.0 million. Net income also saw a modest increase of 2.5% to $13.5 million, resulting in diluted EPS of $0.51. Adjusted diluted EPS grew by 20% to $0.60, indicating improved profitability. The company also increased its share repurchase program by $50 million.

• Net sales increased by 10.9% year-over-year to $701.0 million, driven by strong demand for technology solutions.
• Gross profit grew by 7.8% to $127.3 million, although gross margin slightly decreased by 50 basis points to 18.2%.

Gibraltar Industries reported a solid start to the year with flat adjusted net sales and an 18.8% increase in adjusted EPS. The company achieved a record backlog of $434 million, up 30%, and invested $90 million in two strategic metal roofing acquisitions.

• Adjusted net sales were flat compared to the prior year.
• Adjusted diluted EPS increased by 18.8% to $0.95.

Cimpress continued its strategic and operational path in Q3 FY2025, focusing on strengthening customer value, increasing efficiency, and accelerating improvement velocity. The company reported a 1% increase in revenue on a reported basis and 3% on an organic constant-currency basis, with operating income increasing by $1.3 million year over year to $40.5 million. Despite near-term financial and operational volatility, Cimpress remains confident in delivering attractive growth in per-share cash flow.

• Revenue grew 1% on a reported basis and 3% on an organic constant-currency basis.
• Operating income increased by $1.3 million year over year to $40.5 million.

Teladoc Health reported a decrease in revenue and adjusted EBITDA in the first quarter of 2025 compared to the prior year. Revenue decreased 3% to $629.4 million, and adjusted EBITDA decreased 8% to $58.1 million. The company also reported a net loss of $93.0 million. Integrated Care segment revenue increased, while BetterHelp segment revenue decreased. The company completed the acquisition of UpLift Health Technologies during the quarter.

• Revenue decreased 3% to $629.4 million in Q1 2025 compared to Q1 2024.
• Net loss for Q1 2025 totaled $93.0 million, or $0.53 per share.

Expro Group Holdings N.V. announced solid first quarter 2025 results, with revenue of $391 million and Adjusted EBITDA of $76 million, representing the highest first quarter Adjusted EBITDA since the Expro/Frank’s merger in late 2021. Despite a sequential decrease in revenue and Adjusted EBITDA compared to Q4 2024 due to seasonality and activity mix, the company improved its Adjusted EBITDA margin year-over-year.

• First quarter 2025 revenue was $391 million, a decrease of 11% sequentially due to lower activity in NLA, ESSA, and APAC segments.
• Adjusted EBITDA for Q1 2025 was $76 million, with an Adjusted EBITDA margin of 20%, an increase from 18% in Q1 2024.

Columbia Financial delivered net income of $8.9 million for Q1 2025, reversing a loss from the prior year, as net interest income rose significantly and operating costs declined. Improvements in credit provisioning and deposit growth supported stronger performance.

• Net income reached $8.9 million, compared to a $1.2 million loss in Q1 2024.
• Net interest income increased by $8.1 million year-over-year to $50.3 million.

Tronox reported a net loss of $111 million and adjusted net loss of $24 million for Q1 2025, despite a 9% sequential increase in revenue to $738 million. Revenue decreased 5% year-over-year. Adjusted EBITDA was $112 million.

• Revenue for Q1 2025 was $738 million, a 9% increase quarter-over-quarter but a 5% decrease year-over-year.
• The company reported a net loss of $111 million ($0.70 per diluted share) and an adjusted net loss of $24 million ($0.15 per diluted share) in Q1 2025.

CTS Corporation reported flat sales year-over-year in the first quarter of 2025, totaling $126 million. Despite a challenging operating environment, the company saw double-digit sales growth in diversified end markets while sales to the transportation market decreased. Net income and EPS increased year-over-year, although adjusted EPS saw a slight decline. The company maintained its full-year 2025 guidance.

• Sales in the first quarter of 2025 were $126 million, flat compared to the first quarter of 2024.
• Sales to diversified end markets increased 14% year-over-year.

Constellium reported solid results for the first quarter of 2025, with revenue increasing by 5% to $2.0 billion and net income rising to $38 million from $22 million in Q1 2024. Adjusted EBITDA reached $186 million, driven by stronger performance in the P&ARP segment and a positive metal price lag impact, despite lower shipments in A&T and AS&I segments and lingering impacts from a flood at Valais operations.

• Shipments decreased by 2% to 372 thousand metric tons compared to Q1 2024.
• Revenue increased by 5% to $2.0 billion, primarily due to higher metal prices.

Camping World Holdings, Inc. reported a strong first quarter in 2025, with revenue increasing by 3.6% to $1.4 billion. The company saw significant growth in used vehicle sales, with units up 30.3%, and a substantial improvement in Adjusted EBITDA, which increased by 278% to $31.1 million. Despite a decrease in new vehicle revenue and average selling prices for both new and used vehicles, the company's focus on increasing unit sales and managing expenses contributed to improved profitability.

• Total revenue increased by 3.6% to $1.4 billion for the first quarter of 2025.
• Used vehicle unit sales grew significantly by 30.3%, while new vehicle unit sales decreased slightly by 0.9%.

MIMEDX delivered a solid first quarter for 2025 with 4% year-over-year net sales growth driven by strong performance in surgical products. While facing setbacks with LCDs, the company is strategically adding new products to navigate the reimbursement landscape and remains focused on expanding the use cases for its proprietary technology.

• Net sales for Q1 2025 were $88 million, a 4% increase compared to the prior year.
• Surgical products experienced significant growth of 16% in the first quarter.

Rush Street Interactive announced robust results for the first quarter of 2025, with revenue increasing 21% year-over-year to $262.4 million and Adjusted EBITDA nearly doubling to a record $33.2 million. The company also reported positive net income of $11.2 million, a significant improvement from a net loss in the prior year period. These results were driven by strong performance in both the United States/Canada and Latin American markets.

• First quarter 2025 revenue increased 21% year-over-year to $262.4 million.
• Net income for Q1 2025 was $11.2 million, compared to a net loss of $2.2 million in Q1 2024.

CareDx reported a strong first quarter 2025, with total revenue increasing 18% year-over-year to $84.7 million. The company achieved its seventh consecutive quarter of sequential testing services volume growth and significantly improved its adjusted EBITDA to $4.6 million from a loss in the prior year.

• Total revenue for Q1 2025 was $84.7 million, an 18% increase year-over-year.
• Testing services revenue grew 15% year-over-year to $61.9 million, with volume increasing 12% to approximately 47,100.

Udemy exceeded expectations for both revenue and Adjusted EBITDA in Q1 2025, with total revenue increasing 2% year-over-year to $200.3 million and Adjusted EBITDA reaching $21.1 million. The Enterprise segment showed strong growth, while the Consumer segment saw a decrease in revenue. The company also launched new AI-powered subscription learning paths.

• Total revenue for Q1 2025 was $200.3 million, a 2% increase year-over-year.
• Adjusted EBITDA was $21.1 million, or 11% margin, an 800 basis point expansion year-over-year.

Custom Truck One Source, Inc. achieved year-over-year revenue growth in the first quarter of 2025, primarily driven by strong performance in the utility, infrastructure, rail, and telecom end markets. The company reported an increase in rental revenue and rental asset sales, with improved fleet utilization. Despite a net loss, the company reaffirmed its full-year 2025 guidance, anticipating continued growth and a reduction in net leverage ratio.

• Total revenue increased by 2.7% to $422.2 million compared to the first quarter of 2024.
• Adjusted EBITDA decreased by 5.1% to $73.4 million compared to the first quarter of 2024.

John B. Sanfilippo & Son, Inc. announced its fiscal 2025 third quarter results, with net sales decreasing by 4.0% to $260.9 million and sales volume decreasing by 7.9%. Despite this, the company saw a significant increase in gross profit by 13.7% to $55.9 million and diluted EPS by 49.6% to $1.72 per share, primarily driven by strategic cost control and alignment of selling prices with commodity acquisition costs.

• Net sales decreased by $11.0 million, or 4.0%, to $260.9 million.
• Sales volume decreased by 7.3 million pounds, or 7.9%, to 84.7 million pounds.

Paramount Group, Inc. experienced a net loss of $5.317 million in Q1 2025, a significant decrease from a net income of $16.731 million in Q1 2024. This was largely driven by a substantial decrease in interest and other income, net, and an increase in interest and debt expense. Total revenues saw a slight decrease, while operating expenses increased.

• Net loss attributable to common stockholders was $10.026 million, or $0.05 per diluted share, for Q1 2025, compared to a net income of $9.865 million, or $0.05 per diluted share, for Q1 2024.
• Total revenues decreased by $1.858 million to $187.019 million in Q1 2025 from $188.877 million in Q1 2024.

Deluxe reported a strong first quarter in 2025 with revenue increasing by 0.3% and net income improving to $14.0 million from $10.8 million in the prior year, driven by cost management and lower restructuring spend. Comparable adjusted EBITDA increased by 3.4% to $100.2 million, and free cash flow significantly increased to $24.3 million.

• Reported revenue increased 0.3%, with comparable adjusted revenue up 1.4%.
• Net income improved to $14.0 million from $10.8 million in 2024, due to cost management and lower restructuring spend.

OPKO Health reported a total revenue of $149.9 million and a net loss of $67.6 million for the first quarter of 2025. The company signed a definitive agreement with Labcorp to sell oncology and related clinical testing assets for up to $225 million and entered into a collaboration agreement with Entera Bio to advance an oral GLP-1/glucagon tablet candidate.

• Total revenues for Q1 2025 were $149.9 million, a decrease from $173.7 million in Q1 2024.
• Net loss for Q1 2025 was $67.6 million, or $0.10 per share, compared to a net loss of $81.8 million, or $0.12 per share, in Q1 2024.

AMERISAFE reported continued top-line growth in the first quarter of 2025, driven by new business gains and strong premium retention. However, net income and EPS saw significant declines compared to the prior year.

• Net income decreased significantly from $16.9 million in Q1 2024 to $8.9 million in Q1 2025.
• EPS also saw a substantial drop, from $0.88 in Q1 2024 to $0.47 in Q1 2025.

BlueLinx reported a decrease in net sales and net income for the first quarter of 2025 compared to the previous year, driven by price deflation and lower volumes in specialty products, although structural product sales increased. The company maintained solid margins despite challenging market conditions and continued to return capital to shareholders through share repurchases.

• Net sales for Q1 2025 were $709 million, a 2% decrease year-over-year.
• Net income was $2.8 million, significantly lower than $17.5 million in Q1 2024.

Matthews International Corporation reported a net loss of $8.916 million for the three months ended March 31, 2025, a significant decrease from the net income of $9.027 million in the same period last year. Total sales for the quarter were $427.629 million, down from $471.223 million in the prior year. The company's gross profit also decreased to $144.112 million from $148.182 million.

• Net loss of $8.916 million for the three months ended March 31, 2025, compared to net income of $9.027 million in the prior year.
• Total sales decreased to $427.629 million from $471.223 million in the same period last year.

Redwood Trust, Inc. reported a net income of $14.4 million for Q1 2025, or $0.10 per basic and diluted common share, a significant improvement from a loss in the previous quarter. The company saw strong lock volumes in Sequoia Mortgage Banking and maintained a low recourse leverage ratio.

• GAAP net income related to common stockholders was $14.4 million, or $0.10 per basic and diluted common share.
• Non-GAAP Earnings Available for Distribution ("EAD") was $19.8 million, or $0.14 per basic common share.

SunCoke Energy, Inc. reported a net income of $19.4 million and Adjusted EBITDA of $59.8 million for the first quarter of 2025. Revenues decreased by $52.4 million compared to the prior year, primarily due to lower spot coke sales volumes and the pass-through of lower coal prices. Despite challenging market conditions, the logistics business performed well, and the company reaffirmed its full-year 2025 Adjusted EBITDA guidance.

• First quarter 2025 net income was $19.4 million, a decrease from $21.1 million in the prior year period.
• Consolidated Adjusted EBITDA for the quarter was $59.8 million, down from $67.9 million in the prior year period.

NETGEAR reported first quarter 2025 net revenue of $162.1 million, a 1.5% decrease year-over-year. Despite the revenue dip, the company saw significant improvements in GAAP and non-GAAP gross margins, up 550 basis points each, and reduced its GAAP and non-GAAP operating losses. Non-GAAP EPS turned positive at $0.02.

• Net revenue for Q1 2025 was $162.1 million, a 1.5% decrease from Q1 prior year.
• GAAP gross margin improved to 34.8% and non-GAAP gross margin to 35.0%, both up 550 basis points year-over-year.

Summit Hotel Properties reported a net loss attributable to common stockholders of $4.684 million for the first quarter of 2025, an increase from the $2.116 million loss in the prior year. Total revenues decreased slightly to $184.478 million. Same-store RevPAR increased by 1.5%. The company completed a $275 million term loan to address the majority of its 2026 debt maturity and authorized a $50 million share repurchase program.

• Net loss attributable to common stockholders increased to $4.684 million in Q1 2025 from $2.116 million in Q1 2024.
• Total revenues were $184.478 million for the first quarter of 2025, down from $188.142 million in the same period last year.

Standard Motor Products, Inc. announced robust first quarter 2025 results, with net sales reaching $413.4 million, a 24.7% increase year-over-year. Adjusted diluted earnings per share rose 80% to $0.81, and adjusted EBITDA margin improved by 350 basis points to 10.4%. The company's newest segment, Nissens, contributed significantly to sales and profitability.

• First quarter net sales increased by 24.7% to $413.4 million, or 4.8% excluding Nissens.
• Adjusted diluted earnings per share grew by 80% to $0.81.

Ryerson reported a net loss of $5.6 million in the first quarter of 2025 on revenue of $1.14 billion. Despite the net loss, the company saw improvements in operational productivity, working capital management, and expense control. Transactional sales increased, offsetting softer demand from larger program accounts.

• Generated first quarter revenue of $1.14 billion on 500,000 tons shipped at an average selling price of $2,271 per ton.
• Incurred Net Loss attributable to Ryerson Holding Corporation of $5.6 million, or Diluted Loss Per Share of $0.18.

Whitestone REIT delivered a strong first quarter in 2025, with Net Income attributable to common shareholders at $3.7 million, or $0.07 per diluted share, and total revenues of $38.0 million. The company achieved a 4.8% Same Store Net Operating Income growth and 20.3% GAAP leasing spreads, while reiterating its 2025 Core FFO per share guidance.

• Revenues for Q1 2025 were $38.0 million, an increase from $37.2 million in Q1 2024.
• Net Income attributable to common shareholders was $3.7 million, or $0.07 per diluted share, for Q1 2025.

Wabash reported a decrease in revenue and non-GAAP EPS for the first quarter of 2025 compared to the prior year, primarily due to weaker Transportation Solutions demand and tariff-related uncertainty. However, GAAP EPS was significantly higher due to a gain related to a reduced legal verdict. The Parts & Services segment showed revenue growth.

• Quarterly revenue was $381 million, a 26.1% decrease year-over-year.
• GAAP EPS was $5.36, while Non-GAAP adjusted EPS was $(0.58).

Herbalife reported strong first quarter 2025 results, with net sales of $1.2 billion at the midpoint of guidance and adjusted EBITDA of $164.9 million, exceeding expectations. The company also raised its full-year 2025 adjusted EBITDA expectations and reduced its total leverage ratio to 3.0x.

• Net sales reached $1.2 billion, aligning with the midpoint of guidance, despite a 3.4% year-over-year decrease, which includes 480 basis points of FX headwinds.
• Adjusted EBITDA was $164.9 million, surpassing guidance, with the adjusted EBITDA margin increasing by 260 basis points compared to Q1 2024.

MediaAlpha reported a strong first quarter in 2025, surpassing expectations with a 109% year-over-year increase in revenue to $264.3 million and a 116% increase in Transaction Value to $473.1 million. The Property & Casualty insurance vertical was a key driver, with its Transaction Value growing 200% year over year to $407 million. Despite a net loss of $(2.3) million, Adjusted EBITDA reached $29.4 million, demonstrating strong operational performance.

• Revenue increased by 109% year-over-year to $264.3 million, exceeding first quarter guidance.
• Transaction Value grew by 116% year-over-year to $473.1 million, with the Property & Casualty vertical contributing $407 million.

Carriage Services announced robust first-quarter 2025 financial results, with total revenue reaching $107.1 million, a 3.5% increase year-over-year. Net income surged by 200.1% to $20.9 million, and adjusted diluted EPS grew by 28.0% to $0.96. The company also reduced its leverage ratio and divested non-core assets.

• GAAP net income increased by $14.0 million or 200.1% over the prior year quarter, reaching $20.9 million.
• Adjusted diluted EPS grew by 28.0% to $0.96, demonstrating strong execution of strategic objectives.

Sturm, Ruger & Company, Inc. experienced a slight decline in total net sales for Q1 2025 compared to the prior year, primarily due to decreased firearms and castings sales. However, the company achieved an increase in net income and gross profit, attributed to favorable leveraging of fixed costs from increased production. Estimated unit sell-through to retailers decreased, but the company's overall production increased.

• Total net sales for Q1 2025 were $135.7 million, a slight decrease from $136.8 million in Q1 2024.
• Net income increased by 9.7% to $7.8 million in Q1 2025, up from $7.1 million in Q1 2024.

Shentel experienced strong growth in the first quarter of 2025, with total revenue increasing by 26.9% to $87.9 million, primarily driven by the acquired Horizon markets and Glo Fiber Expansion Markets. Despite an increase in net loss due to higher depreciation and amortization, Adjusted EBITDA grew significantly by 43.3% to $27.6 million.

• Glo Fiber Expansion Markets data subscribers increased by 51% year-over-year to approximately 71,000.
• Total revenue grew 26.9% to $87.9 million, with Glo Fiber Expansion Markets revenue specifically increasing by 52% to $18.4 million.

Climb Global Solutions, Inc. announced exceptional growth in the first quarter of 2025, with net sales increasing by 49% to $138.0 million, net income rising by 35% to $3.7 million, and adjusted EBITDA growing by 38% to $7.6 million. This performance was driven by core initiatives, the integration of Douglas Stewart Software & Services, LLC (DSS), and organic growth in both the U.S. and Europe.

• Net sales increased 49% to $138.0 million.
• Net income increased 35% to $3.7 million, or $0.81 per diluted share.

New York Mortgage Trust significantly increased investment activity in Q1 2025, leading to a substantial boost in earnings. The company reported recurring earnings consistent with its dividend, reflecting a successful strategic portfolio restructuring focused on enhancing interest income through highly liquid assets. This balance sheet strength is expected to provide flexibility for further earnings growth amidst market dislocation.

• Net income attributable to common stockholders was $30.285 million, a significant improvement from a loss in the prior year.
• Basic earnings per common share were $0.33, compared to a loss of $0.75 in the same period last year.

Titan International, Inc. reported first quarter 2025 financial results with revenues of $490.7 million and Adjusted EBITDA of $30.8 million, both at the higher end of the company's guidance range. The results were achieved despite continued OEM destocking across all primary end markets. The company's aftermarket business outperformed its OEM-pointed operations.

• First quarter 2025 revenues were $490.7 million, an increase from $482.2 million in the comparable prior year period.
• Adjusted EBITDA for the first quarter of 2025 was $30.8 million, compared to $49.7 million in the first quarter of 2024.

First Foundation Inc. returned to profitability in the first quarter of 2025, reporting net income of $6.9 million and diluted earnings per share of $0.08. The company saw continued expansion in its net interest margin and a decrease in total delinquent loans, indicating improved asset quality.

• Net income for the quarter was $6.9 million, with diluted earnings per share of $0.08.
• Total revenue reached $71.3 million, driven by a net interest margin expansion to 1.67%.

Northwest Pipe Company experienced a mix of external challenges in Q1 2025, including weather disruptions and new trade policies. Despite these headwinds, both business segments delivered respectable results, with net sales increasing by 2.6% year-over-year to $116.1 million, while net income decreased to $3.964 million, or $0.39 per diluted share.

• Net sales increased 2.6% year-over-year to $116.1 million.
• Net income was $3.964 million, or $0.39 per diluted share, down from $5.238 million, or $0.52 per diluted share, in Q1 2024.

Unisys reported a total company revenue of $432.1 million for the first quarter of 2025, an 11.4% decrease year-over-year. The company experienced a net loss of $29.5 million and an operating income of $5.1 million. Despite the declines in revenue and profitability, Unisys saw an 83% year-over-year increase in Ex-L&S New Business Total Contract Value (TCV) driven by new logo signings and reiterated its full-year 2025 guidance.

• Total company revenue decreased by 11.4% year-over-year to $432.1 million, primarily due to the timing of software license renewals and lower client volumes.
• Net loss attributable to Unisys Corporation was $29.5 million, compared to a net loss of $149.5 million in the prior year, showing an improvement.

Oatly Group AB delivered progress on 2025 priorities in the first quarter, with cost efficiency benefits and early positive signs in European businesses. Despite a dynamic environment, especially in North America, the company remains on track to deliver its first full year of profitable growth as a public company, maintaining its 2025 outlook.

• First quarter revenue decreased 0.8% to $197.5 million, but increased 0.7% in constant currency.
• Gross margin improved by 4.5 percentage points to 31.6% due to supply chain efficiencies.

Havertys reported solid first quarter results with improved gross margins and earnings, despite a slight decrease in consolidated sales. Diluted EPS increased to $0.23 from $0.14 in the prior year, and gross profit margin improved to 61.2%.

• Diluted earnings per common share increased to $0.23 from $0.14 in the prior year.
• Consolidated sales decreased by 1.3% to $181.6 million, with comparable store sales down 4.8%.

Regional Management Corp. reported a net income of $7.0 million and diluted EPS of $0.70 for the first quarter of 2025, with record first quarter revenue of $153 million. The company saw an 8.4% year-over-year increase in net finance receivables, driven by growth in new branches and its barbell strategy.

• Net income for Q1 2025 was $7.0 million, with diluted EPS of $0.70.
• Record first quarter revenue reached $153.0 million, a 6.0% increase year-over-year.

Spok Holdings, Inc. reported strong first quarter 2025 results, with total revenue increasing by 4.0% year-over-year to $36.294 million. Net income surged by 22.7% to $5.196 million, and adjusted EBITDA grew by 8.9% to $8.204 million. The company also saw a significant increase in software operations bookings and backlog.

• Net Income and Adjusted EBITDA increased by 22.7% and 8.9% respectively from the prior year period.
• Software operations bookings totaled $8.3 million, up 5.7% from Q1 2024, including 22 six-figure customer contracts.

Postal Realty Trust, Inc. announced a 28% growth in revenues from Q1 2024 to Q1 2025, reaching $22.15 million. The company acquired 36 USPS properties for $15.8 million and agreed to new lease terms for 2025 and 2026 with 3% annual escalations, indicating strong operational momentum and future growth.

• Revenues grew by 28% from Q1 2024 to Q1 2025, totaling $22.15 million.
• Net income attributable to common shareholders was $2.1 million, or $0.06 per diluted share.

Onity Group Inc. reported a strong first quarter in 2025 with net income attributable to common stockholders of $21 million and diluted EPS of $2.50. The company saw significant growth in servicing additions and an increase in average servicing UPB, alongside a substantial rise in originations volume and MSR additions.

• Net income attributable to common stockholders was $21 million, with diluted EPS of $2.50.
• Adjusted pre-tax income reached $25 million, leading to an annualized adjusted ROE of 22%.

Industrial Logistics Properties Trust (ILPT) reported its first quarter 2025 financial results, highlighting a portfolio of 411 properties across 39 states, totaling approximately 59.9 million rentable square feet. A significant portion of its rental revenue, about 76%, is derived from investment-grade tenants or Hawaii land leases.

• ILPT's portfolio includes 411 properties.
• The total rentable square feet is approximately 59.9 million.

Pulmonx reported a strong start to 2025 with worldwide revenue of $22.5 million, a 20% increase year-over-year, driven by continued commercial execution and global adoption of Zephyr Valve procedures. Despite the revenue growth, the company reported a net loss of $14.4 million.

• Worldwide revenue increased by 20% year-over-year to $22.5 million in Q1 2025.
• International revenue grew by 39% year-over-year to $8.3 million.

ATN International reported first quarter 2025 revenues of $179.3 million, a 4% decrease year-over-year, primarily due to the wind-down of subsidy programs in the US Telecom segment. Despite this, Adjusted EBITDA increased by 2% to $44.3 million, driven by disciplined cost management and improved free cash flow.

• High-speed broadband homes passed increased by 11% year-over-year.
• Total high-speed subscribers grew by 2% compared to the prior year.

Accuray delivered a strong fiscal third quarter with a 12% increase in total net revenue and a significant improvement in net loss and Adjusted EBITDA compared to the prior year period. Despite a decrease in gross product orders, the company maintained a book-to-bill ratio above 1 and ended the quarter with a substantial order backlog.

• Total net revenue increased 12% year-over-year to $113.2 million.
• Net loss improved to $1.3 million compared to a net loss of $6.3 million in the prior year period.

DBV Technologies saw a sharp revenue decline but slightly reduced its net loss year-over-year. Cash usage remained high, driven by clinical and regulatory activities. A major financing round closed after quarter-end is expected to fund operations into mid-2026.

• Revenue dropped to $799,460, a 42.8% decrease from Q1 2024.
• Net loss slightly improved to $27.1 million, compared to $27.3 million a year earlier.

Stoneridge, Inc. announced first quarter 2025 results with sales of $217.9 million, a net loss of $(7.2) million, and adjusted EBITDA of $7.6 million. The company saw significant margin expansion driven by material cost improvement and reduced quality-related costs, and achieved record quarterly sales for MirrorEye and SMART 2. Despite a net loss, adjusted operating margin improved, and the company generated positive free cash flow.

• Sales for Q1 2025 were $217.9 million.
• Adjusted gross profit margin improved by 210 basis points quarter-over-quarter.

Everspin Technologies, Inc. reported a total revenue of $13.1 million for the first quarter of 2025, a decrease from $14.4 million in the same period last year. The company posted a GAAP net loss of $1.2 million, or $(0.05) per diluted share, compared to a net loss of $0.2 million, or $(0.01) per diluted share, in Q1 2024. Non-GAAP net income was $0.4 million, or $0.02 per diluted share.

• Total revenue for Q1 2025 was $13.1 million, a decrease from $14.4 million in Q1 2024.
• GAAP net loss was $1.2 million, or $(0.05) per diluted share, in Q1 2025.

Unifi, Inc. reported a net loss of $16.8 million on net sales of $146.6 million for the third fiscal quarter of 2025. This represents a decrease in sales of 1.6% compared to the same period last year, driven by a less favorable sales mix and lower sales volumes in the Asia Segment, as well as unfavorable foreign currency effects in the Brazil Segment. The company's gross loss was $0.4 million, and adjusted EBITDA was $(4.9) million.

• Net sales decreased by 1.6% to $146.6 million, primarily due to a less favorable sales mix and lower sales volumes in Asia, and unfavorable foreign currency effects in Brazil.
• The company reported a gross loss of $0.4 million, a significant decline from a gross profit of $4.8 million in the prior year.

Maxeon Solar Technologies faced a challenging Q4 2024, reporting a steep net loss and significant revenue decline due to the continued U.S. import ban on key products. The company is undergoing a major restructuring to focus on U.S. operations and streamline costs.

• Revenue fell to $48.8M in Q4 due to U.S. import restrictions.
• Net loss widened to $106M, compared to $186M in Q4 2023.

Office Properties Income Trust (OPI) reported its financial results for the first quarter of 2025, highlighting its focus on owning and leasing office properties to high credit quality tenants. The company's revenues from investment grade rated tenants were approximately 60% as of March 31, 2025, and it owned 125 properties totaling 17.3 million square feet across 29 states and Washington, D.C.

• OPI's financial results for the quarter ended March 31, 2025, are available on its website.
• A conference call to discuss the first quarter results will be held on May 1, 2025, at 10:00 a.m. Eastern Time.