secwatch / observer

Earnings Releases

Quarterly and annual results disclosed under 8-K Item 2.02.

8-K items 2.02 JSON
MGRC MCGRATH RENTCORP

MCGRATH RENTCORP reported first quarter ended March 31, 2024 results: revenue $187.8 million, net income $22.8 million, EPS $0.93 per diluted share.

“total revenues from continuing operations for the quarter ended March 31, 2024 of $187.8 million, an increase of 15% compared to the first quarter of 2023. The Company reported net income from continuing operations of $22.8 million, or $0.93 per diluted share, for the first quarter of 2024”
SHYFT GROUP, INC.

SHYFT GROUP, INC. reported the first quarter ending March 31, 2024 results: revenue $197.9 million, net income Net loss of $4.7 million, or ($0.14) per share. Guidance reaffirmed.

“The Shyft Group Reports First Quarter 2024 Results ● First quarter sales of $198 million; Quarter end consolidated backlog of $439 million with FVS backlog up 10% sequentially ● Maintains 2024 outlook with sales of $850 to $900 million and adjusted EBITDA of $40 to $50 million”
ORI OLD REPUBLIC INTERNATIONAL CORP

OLD REPUBLIC INTERNATIONAL CORP reported financial results for the quarter ended March 31, 2024.

“Old Republic International Corporation announced the results of its operations and its financial condition for the quarter ended March 31, 2024. The full text of the earnings release is included as Exhibit 99.1 hereto.”
RES RPC INC

RPC INC reported the first quarter ended March 31, 2024 results: revenue $377.8 million, net income $27.5 million, EPS $0.13.

“and year-over-year comparisons are available in the tables at the end of this earnings release. ​ First Quarter 2024 Highlights ​ ● Revenues decreased 4% sequentially to $377.8 million ● Net income was $27.5 million, down 32% sequentially, and diluted Earnings Per Share (EPS) was $0.13; net income margin decreased 290 basis points sequentially to 7.3% ●”
CZFS CITIZENS FINANCIAL SERVICES INC

CITIZENS FINANCIAL SERVICES INC reported first quarter 2024 results: net income $7,024,000, EPS $1.49.

“Randall E. Black, Chief Executive Officer, recently announced the unaudited consolidated financial results for Citizens Financial Services, Inc. and susbisidaries for the first quarter 2024.”
SBCF SEACOAST BANKING CORP OF FLORIDA

SEACOAST BANKING CORP OF FLORIDA reported the quarter ended March 31, 2024 results: revenue $125.6 million, net income $26.0 million, EPS $0.31 per diluted share.

“compared to $31.4 million, or $0.37 per diluted share, for the prior quarter, and $23.7 million, or $0.29 per diluted share, for the prior year quarter. • Net revenues were $125.6 million in the first quarter of 2024, a decrease of $2.6 million, or 2%, compared to the prior quarter, and a decrease of $28.0 million, or 18%, compared to the prior year quarter.”
UBSI UNITED BANKSHARES INC/WV

UNITED BANKSHARES INC/WV reported first quarter of 2024 results: net income $86.8 million, or $0.64 per diluted share, EPS $0.64 per diluted share.

“United Bankshares, Inc. (NASDAQ: UBSI) (“United”), today reported earnings for the first quarter of 2024 of $86.8 million, or $0.64 per diluted share.”
BELFA BEL FUSE INC /NJ

BEL FUSE INC /NJ reported the first quarter of 2024 results: revenue $128.1 million, net income $15.9 million. Guidance initiated.

“25, 2024 -- Bel Fuse Inc . (Nasdaq: BELFA and BELFB) today announced preliminary financial results for the first quarter of 2024 . First Quarter 2024 Highlights • Net sales of $ 128.1 million compared to $ 172.3 million in Q1-23 • Gross profit margin of 37.5% , up from 31.1% in Q1-23 • Net earnings of $ 15.9 million versus $ 14.6 million in Q1-23 • Adjusted EBITDA of”
LKFN LAKELAND FINANCIAL CORP

LAKELAND FINANCIAL CORP reported three months ended March 31, 2024 results: net income $23.4 million, EPS $0.91.

“Lakeland Financial Corporation (the “Company”) issued a press release announcing its earnings for the three months ended March 31, 2024.”
PENNS WOODS BANCORP INC

PENNS WOODS BANCORP INC reported the three months ended March 31, 2024 results: net income $3.8 million, EPS $0.51.

“Penns Woods Bancorp, Inc. achieved net income of $3.8 million for the three months ended March 31, 2024, resulting in basic and diluted earnings per share of $0.51.”
ACNB ACNB CORP

ACNB CORP reported for the three months ended March 31, 2024 results: net income $6.8 million, EPS $0.80 per diluted earnings per share.

“ACNB Corporation (NASDAQ: ACNB) (“ACNB” or the “Corporation”), financial holding company for ACNB Bank and ACNB Insurance Services, Inc., announced net income of $6.8 million, or $0.80 per diluted earnings per share, for the three months ended March 31, 2024 compared to net income of $9.0 million, or $1.06 per diluted earnings per share, for the three months ended March 31, 2023.”
VLY VALLEY NATIONAL BANCORP

VALLEY NATIONAL BANCORP reported first quarter 2024 results: net income $99.4 million, EPS $0.19 per diluted common share.

“Excluding all non-core income and charges, our adjusted net income (a non-GAAP measure) was $99.4 million, or $0.19 per diluted common share, for the first quarter 2024, $116.3 million, or $0.22 per diluted common share, for the fourth quarter 2023, and $154.5 million, or $0.30 per diluted common share, for the first quarter 2023.”
CNOB ConnectOne Bancorp, Inc.

ConnectOne Bancorp, Inc. reported the first quarter of 2024 results: net income $15.7 million, EPS $0.41.

“ConnectOne Bancorp, Inc. (Nasdaq: CNOB) (the “Company” or “ConnectOne”), parent company of ConnectOne Bank (the “Bank”), today reported net income available to common stockholders of $15.7 million for the first quarter of 2024 compared with $17.8 million for the fourth quarter of 2023 and $23.4 million for the first quarter of 2023. Diluted earnings per share were $0.41 for the first quarter of 2024 compared with $0.46 for the fourth quarter of 2023 and $0.59 for the first quarter of 2023.”
FRME FIRST MERCHANTS CORP

FIRST MERCHANTS CORP reported financial results for first quarter 2024.

“On April 25, 2024, First Merchants Corporation will conduct a first quarter 2024 earnings conference call and web cast at 11:30 a.m. (ET). A copy of the slide presentation utilized on the conference call is furnished as Exhibit 99.1 to this Current Report on Form 8-K.”
FFBC FIRST FINANCIAL BANCORP /OH/

FIRST FINANCIAL BANCORP /OH/ reported the three months ended March 31, 2024 results: net income $50.7 million, EPS $0.53 per diluted common share.

“For the three months ended March 31, 2024, the Company reported net income of $50.7 million, or $0.53 per diluted common share.”
FRME FIRST MERCHANTS CORP

FIRST MERCHANTS CORP reported first quarter ended March 31, 2024 results: net income $47.5 million, EPS $0.80.

“First Merchants Corporation (the “Corporation) has reported first quarter 2024 net income available to common stockholders of $47.5 million compared to $63.6 million during the same period in 2023. Diluted earnings per common share for the period totaled $0.80 compared to the first quarter of 2023 result of $1.07 per share.”
ABCB Ameris Bancorp

Ameris Bancorp reported the quarter ended March 31, 2024 results: net income $74.3 million, EPS $1.08 per diluted share.

“Ameris Bancorp (Nasdaq: ABCB) (the “Company”) today reported net income of $74.3 million, or $1.08 per diluted share, for the quarter ended March 31, 2024”
KLAC KLA CORP

KLA CORP reported third quarter of fiscal year 2024 results: revenue $2.36 billion, net income $601.5 million, EPS $4.43.

“KLA Corporation (NASDAQ: KLAC) today announced financial and operating results for its third quarter of fiscal year 2024, which ended on March 31, 2024, and reported GAAP net income of $601.5 million and GAAP earnings per diluted share of $4.43 on revenue of $2.36 billion.”
ESCA ESCALADE INC

ESCALADE INC reported first quarter 2024 results: revenue $57.3 million, net income $1.8 million, EPS $0.13.

“indoor/outdoor recreational equipment, today announced results for the first quarter 2024. FIRST QUARTER 2024 HIGHLIGHTS (As compared to the first quarter 2023) ● Net sales were $57.3 million, an increase of 0.7% ● Operating income was $3.1 million compared to $0.1 million in 2023 ● EBITDA totaled $4.4 million, an increase of $2.8 million ● Net income of $1.8 million,”
RHI ROBERT HALF INC.

ROBERT HALF INC. reported first quarter ended March 31, 2024 results: revenue $1.476 billion, net income $64 million, EPS $0.61 per share.

“For the three months ended March 31, 2024, net income was $64 million, or $0.61 per share, on revenues of $1.476 billion.”
MRK Merck & Co., Inc.

Merck & Co., Inc. reported first quarter of 2024 results: revenue $15,775, net income 4,762, EPS GAAP EPS 1.87; Non-GAAP EPS that excludes certain items 2* 2.07. Guidance raised.

“Financial Summary First Quarter $ in millions, except EPS amounts 2024 2023 Change Change Ex- Exchange Sales $ 15,775 $ 14,487 9 % 12 % GAAP net income 1 4,762 2,821 69 % 76 % Non-GAAP net income that excludes certain items 1,2* 5,279 3,564 48 % 54 % GAAP EPS 1.87 1.11 68 % 76 % Non-GAAP EPS that excludes certain items 2* 2.07 1.40 48 % 54 %”
DOV DOVER Corp

DOVER Corp reported financial results for the quarter ended March 31, 2024.

“On April 25, 2024, Dover Corporation ("Dover") issued the Press Release attached hereto as Exhibit 99.1 announcing its results of operations for the quarter ended March 31, 2024.”
DTE Electric Co

DTE Electric Co reported the quarter ended March 31, 2024 results: net income $313 million, EPS $1.51 per diluted share. Guidance reaffirmed.

“The company also reported first quarter earnings of $313 million or $1.51 per diluted share, compared with $445 million, or $2.16 per diluted share in 2023.”
GWW W.W. GRAINGER, INC.

W.W. GRAINGER, INC. reported first quarter ended March 31, 2024 results: revenue $4.2 billion, EPS $9.62. Guidance reaffirmed.

“RESULTS FOR THE FIRST QUARTER 2024 Strategic focus driving business forward; Company reaffirms full year 2024 guidance ranges First Quarter Highlights • Delivered sales of $4.2 billion, up 3.5%, or 4.9% on a daily, organic constant currency basis • Achieved operating margin of 15.8%, down 80 basis points • Increased diluted EPS by $0.01 to $9.62 • Generated”
CUZ COUSINS PROPERTIES INC

COUSINS PROPERTIES INC reported financial results for the quarter ended March 31, 2024.

“On April 25, 2024, Cousins Properties Incorporated (the “Company”) issued a Press Release and Quarterly Information Package containing information about the Company’s financial condition and results of operations for the quarter ended March 31, 2024.”
TXT TEXTRON INC

TEXTRON INC reported first quarter 2024 results: EPS $1.03 per share.

“Textron Reports First Quarter 2024 Results • EPS of $1.03; adjusted EPS of $1.20, up from $1.05 from prior year”
LHX L3HARRIS TECHNOLOGIES, INC. /DE/

L3HARRIS TECHNOLOGIES, INC. /DE/ reported 2024 results: EPS $12.70 - $13.05. Guidance raised.

“2024 non-GAAP EPS guidance range increases from $12.40 - $12.80 to $12.70 - $13.05*”
LHX L3HARRIS TECHNOLOGIES, INC. /DE/

L3HARRIS TECHNOLOGIES, INC. /DE/ reported first quarter 2024 results: revenue $5.2 billion, net income $283 million, EPS $1.48.

“L3Harris Technologies, Inc. (NYSE: LHX) reported first quarter 2024 net income attributable to L3Harris of $283 million, or diluted earnings per share (EPS) of $1.48, on first quarter revenue of $5.2 billion.”
CINF CINCINNATI FINANCIAL CORP

CINCINNATI FINANCIAL CORP reported First-Quarter 2024 results: net income $755 million, EPS $4.78 per share.

“Cincinnati Financial Reports First-Quarter 2024 Results”
PHIN PHINIA INC.

PHINIA INC. reported the first quarter ended March 31, 2024 results: revenue $863 million, net income $29 million, EPS $0.62 per diluted share. Guidance reaffirmed.

“PHINIA Inc. (NYSE: PHIN), a leader in premium fuel systems, electrical systems, and aftermarket solutions, today reported results for the first quarter ended March 31, 2024. First Quarter Highlights: • U.S. GAAP net sales of $863 million”
CMS-PB CONSUMERS ENERGY CO

CONSUMERS ENERGY CO reported first quarter of 2024 results: EPS $0.96 per share. Guidance reaffirmed.

“CMS Energy announced today reported earnings per share of $0.96 for the first quarter of 2024”
GEV GE Vernova Inc.

GE Vernova Inc. reported first quarter 2024 results: revenue $7,260 million, net income $(106) million, EPS $(0.47) per share. Guidance reaffirmed.

“Guidance: GE Vernova reaffirmed its 2024 financial guidance for revenue of $34-35 billion, adjusted EBITDA margin* at the high end of mid-single digits, cash from operating activities of $1.5-1.9 billion, and free cash flow* of $0.7-1.1 billion. Additionally, GE Vernova reaffirmed segment guidance of: • Power: mid-single digit organic revenue* growth with ~100bps of organic EBITDA margin* expansion. • Wind: flat organic revenue* growth, approaching profitability. • Electrification: low double-digit organic revenue* growth with mid-single digit segment EBITDA margins. Total Company Results Three months ended March 31 (Dollars in millions, except per share) 2024 2023 Year-on-Year GAAP Metrics Total Revenues $7,260 $6,822 6% Net Income (loss) $(106) $(346) $240 Net Income (loss) margin (1.5) % (5.1) % 360bps EPS(a) $(0.47) $(1.15) 59% Cash from (used for) Operating Activities $(444) $(690) $246 Non-GAAP Metrics Organic Revenues $7,169 $6,829 5% Adjusted EBITDA $189 $(185) $374 Adjusted EB”
ECBK ECB Bancorp, Inc. /MD/

ECB Bancorp, Inc. /MD/ reported the quarter ended March 31, 2024 results: net income $621,000, EPS $0.07 per diluted share.

“ECB Bancorp, Inc. Reports First Quarter Results EVERETT, MA, April 25, 2024 - ECB Bancorp, Inc. (NASDAQ-ECBK) (the “Company”), the holding company for Everett Co-operative Bank (the “Bank”), a state-chartered co-operative bank headquartered in Everett, Massachusetts, today reported net income of $621,000 or $0.07 per diluted share for the quarter ended March 31, 2024 compared to $901,000 or $0.11 per diluted share for the quarter ended March 31, 2023, a decrease of $280,000 in net income.”
BPRN Princeton Bancorp, Inc.

Princeton Bancorp, Inc. reported the quarter ended March 31, 2024 results: net income $4.3 million, EPS $0.68 per diluted common share.

“The Company reported net income of $4.3 million, or $0.68 per diluted common share, for the first quarter of 2024”
MBLY Mobileye Global Inc.

Mobileye Global Inc. reported first quarter 2024 results: revenue $239 million, net income $(218) million, EPS $(0.27) per diluted share.

“2 tm2412284d1_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 Mobileye Releases First Quarter 2024 Results and Provides Business Overview · Revenue decreased 48% year over year to $239 million in the first quarter due to the significant drawdown of inventory at our Tier 1 customers announced earlier this year. · Diluted EPS (GAAP) was $(0.27) and Adjusted Diluted EPS”
LVWR LiveWire Group, Inc.

LiveWire Group, Inc. reported first quarter 2024 results: revenue $5.0, net income $23.6 million. Guidance reaffirmed.

“investment in new motorcycle models and actioned initiatives to reduce EV costs. LiveWire Group, Inc. – Consolidated Results $ in millions* 1st quarter 2024 2023 Change Revenue $5.0 $7.8 (36%) Operating (Loss) ($30.4) ($24.9) 22% Net Loss ($23.6) ($21.1) 12% LiveWire Group, Inc. – Segment Results $ in millions*, except units 1st quarter 2024 2023 Change”
USCB USCB FINANCIAL HOLDINGS, INC.

USCB FINANCIAL HOLDINGS, INC. reported the three months ended March 31, 2024 results: net income $4.6 million, EPS $0.23 per diluted share.

“reported net income of $4.6 million or $0.23 per diluted share for the three months ended March 31, 2024”
2seventy bio, Inc.

2seventy bio, Inc. reported the first quarter of 2024 results: revenue $52 million.

“On April 25, 2024, 2seventy bio, Inc. (the “Company”) announced that Abecma (idecabtagene vicleucel, or ide-cel) generated approximately $52 million in U.S. revenue during the first quarter of 2024.”
CARE Carter Bankshares, Inc.

Carter Bankshares, Inc. reported the three months ended March 31, 2024 results: net income $5.8 million, EPS $0.25 diluted earnings per share.

“Carter Bankshares, Inc. announced by press release its financial results for the three months ended March 31, 2024”
AMAL Amalgamated Financial Corp.

Amalgamated Financial Corp. reported financial results for the first quarter ended March 31, 2024.

“On April 25, 2024, Amalgamated Financial Corp. (the "Company") issued a press release announcing financial results for the first quarter ended March 31, 2024.”
CAT CATERPILLAR INC

CATERPILLAR INC reported the quarter ended March 31, 2024 results: revenue $15.8, EPS $5.75.

“1Q 2024 Earnings Release FOR IMMEDIATE RELEASE Caterpillar Reports First-Quarter 2024 Results First Quarter ($ in billions except profit per share) 2024 2023 Sales and Revenues $15.8 $15.9 Profit Per Share $5.75 $3.74 Adjusted Profit Per Share $5.60 $4.91 Please see a reconciliation of GAAP to --- EX-99.2 (EX-99.2) --- Caterpillar Inc. (“Caterpillar”, “we””
EBC Eastern Bankshares, Inc.

Eastern Bankshares, Inc. reported first quarter of 2024 results: net income $38.6 million, EPS $0.24 per diluted share.

“Net income of $38.6 million, or $0.24 per diluted share.”
HESM Hess Midstream LP

Hess Midstream LP reported the first quarter of 2024 results: revenue $355.6 million, net income $161.9 million, EPS $0.60 basic earnings per Class A share.

“these non‐GAAP measures to GAAP reporting measures appear in the following pages of this release. Financial Results Revenues and other income in the first quarter of 2024 were $355.6 million compared with $305.0 million in the prior‐year quarter. First quarter 2024 affiliate revenues included $23.2 million of pass-through electricity, produced water trucking and”
CARR CARRIER GLOBAL Corp

CARRIER GLOBAL Corp reported first quarter of 2024 results: revenue $6.2 billion, net income $269 million, EPS $0.29. Guidance reaffirmed.

“in 2024 as the net proceeds from the announced transactions help us return to ~2x net leverage this year.” 1 First Quarter 2024 Results Carrier’s first quarter sales of $6.2 billion were up 17% compared to the prior year including 2% organic growth and approximately 16% contribution from the acquisition of Viessmann Climate Solutions offset by about 1% from”
Provident Bancorp, Inc. /MD/

Provident Bancorp, Inc. /MD/ reported the quarter ended March 31, 2024 results: net income $5.0 million, EPS $0.30 per diluted share.

“Provident Bancorp, Inc. Reports First Quarter Net Income of $5.0 Million”
RMBI Richmond Mutual Bancorporation, Inc.

Richmond Mutual Bancorporation, Inc. reported first quarter of 2024 results: net income $2.4 million, EPS $0.23 diluted earnings per share.

“Richmond Mutual Bancorporation, Inc., a Maryland corporation (the “Company”) (NASDAQ: RMBI), parent company of First Bank Richmond (the “Bank”), today announced net income of $2.4 million, or $0.23 diluted earnings per share, for the first quarter of 2024”
HarborOne Bancorp, Inc.

HarborOne Bancorp, Inc. reported the first quarter of 2024 results: net income $7.3 million, EPS $0.17 per diluted share.

“HarborOne Bancorp, Inc. (the “Company” or “HarborOne”) (NASDAQ: HONE), the holding company for HarborOne Bank (the “Bank”), announced net income of $7.3 million, or $0.17 per diluted share, for the first quarter of 2024, compared to a net loss of $7.1 million, or $0.17 per diluted share for the preceding quarter, and net income of $7.3 million, or $0.16 per diluted share for the same period last year.”
TW Tradeweb Markets Inc.

Tradeweb Markets Inc. reported financial results for the quarter ended March 31, 2024.

“On April 25, 2024, Tradeweb Markets Inc. (the “Company”) issued a press release, a copy of which is furnished as Exhibit 99.1 hereto and incorporated herein by reference, announcing financial results for the quarter ended March 31, 2024.”
RBKB Rhinebeck Bancorp, Inc.

Rhinebeck Bancorp, Inc. reported First Quarter 2024 results: net income $1.1 million, EPS $0.10.

“Rhinebeck Bancorp, Inc. (the “Company”) (NASDAQ: RBKB), the holding company of Rhinebeck Bank (the “Bank”), reported net income for the three months ended March 31, 2024 of $1.1 million ($0.10 per basic and diluted share), which was $323,000, or 40.5%, higher than the comparable prior year period of $798,000 ($0.07 per basic and diluted share).”
DOW DOW INC.

DOW INC. reported first quarter of 2024 results: revenue $10,765, net income $538, EPS $0.73.

“SUMMARY FINANCIAL RESULTS Three Months Ended Mar 31 Three Months Ended Dec 31 In millions, except per share amounts 1Q24 1Q23 vs. SQLY [B / (W)] 4Q23 vs. PQ [B / (W)] Net Sales $ 10,765 $ 11,851 $ (1,086) $ 10,621 $ 144 GAAP Income (Loss), Net of Tax $ 538 $ (73) $ 611 $ (95) $ 633 Operating EBIT 1 $ 674 $ 708 $ (34) $ 559 $ 115 Operating EBIT Margin 1 6.3 % 6.0”

Facts are extracted by an LLM and gated to those whose source quote is present verbatim in the filing text. Coverage is best-effort while backfill and monitoring mature; this is not yet a full-market index. See methodology.