Broadcom Inc. has released its financial results for the fourth quarter and fiscal year 2024. **Revenue** for the fourth quarter was **$14,054 million**, marking a **51% increase** from the prior year period. The **GAAP net income** for the quarter was **$4,324 million**, while the **Non-GAAP net income** was **$6,965 million**. The **Adjusted EBITDA** for the quarter was **$9,089 million**, which is **65% of the revenue**. The company also reported a **GAAP diluted EPS** of **$0.90** and a **Non-GAAP diluted EPS** of **$1.42**. Broadcom generated **$5,604 million** in cash from operations, resulting in a **free cash flow** of **$5,482 million**, or **39% of revenue**  **[0001730168-24-000125_avgo-11032024x8kxex99.htm:0]** .

For the fiscal year 2024, Broadcom's revenue grew **44% year-over-year** to a record **$51.6 billion**. This growth was driven by infrastructure software revenue, which increased to **$21.5 billion**, and semiconductor revenue, which reached a record **$30.1 billion**. Notably, AI revenue grew **220% year-on-year** to **$12.2 billion**  **[0001730168-24-000125_avgo-11032024x8kxex99.htm:0]** .

Looking ahead, Broadcom has provided guidance for the first quarter of fiscal year 2025, expecting revenue of approximately **$14.6 billion**, which represents a **22% increase** from the prior year period. The company also anticipates an Adjusted EBITDA of approximately **66% of projected revenue**  **[0001730168-24-000125_avgo-11032024x8kxex99.htm:0]** .

Additionally, Broadcom announced an **11% increase** in its quarterly common stock dividend to **$0.59 per share** for fiscal year 2025, with a target annual dividend of **$2.36 per share**, marking the fourteenth consecutive annual increase since 2011  **[0001730168-24-000125_avgo-11032024x8kxex99.htm:0]** .

Costco Wholesale Corporation has released its first quarter fiscal year 2025 operating results. **Net sales** for the quarter increased by **7.5%** to **$60.99 billion** compared to the same period last year. The **comparable sales** growth was **5.2%** in the U.S., **5.8%** in Canada, and **4.7%** in other international markets, with a total company growth of **5.2%**. E-commerce sales saw a significant increase of **13.0%**. The **net income** for the quarter was **$1,798 million**, or **$4.04 per diluted share**, which includes a tax benefit of **$100 million** related to stock-based compensation  **[0000909832-24-000075_costex9918-k121224.htm:0]** **[0000909832-24-000075_costex9918-k121224.htm:1]** **[0000909832-24-000075_costexhibit9928-k121224.htm:1]** .

Nordson Corporation has released its **fourth quarter and fiscal year 2024 earnings results**. For the fourth quarter, the company reported **sales of $744 million**, marking a **4% increase** over the previous year. **Earnings per diluted share** were **$2.12**, while **adjusted earnings per diluted share** were **$2.78**. The integration of the Atrion Medical acquisition is progressing well, contributing positively to the quarter's results  **[0000072331-24-000169_ndsn-20241213xex991.htm:0]** .

For the full fiscal year 2024, Nordson achieved **record sales of $2.7 billion**, reflecting a **2% growth** over the previous year's record sales. The **earnings per diluted share** for the year were **$8.11**, and **EBITDA** reached a record **$849 million**, up **4%** from the prior year, representing **32% of sales**. The **adjusted earnings per diluted share** for the year were **$9.73**  **[0000072331-24-000169_ndsn-20241213xex991.htm:0]** .

Looking ahead, Nordson has provided guidance for fiscal 2025, forecasting sales between **$2,750 to $2,870 million** and adjusted earnings in the range of **$9.70 to $10.50** per diluted share. The company enters fiscal 2025 with approximately **$580 million in backlog** and anticipates first-quarter sales between **$615 to $655 million** with adjusted earnings per diluted share ranging from **$1.95 to $2.15**  **[0000072331-24-000169_ndsn-20241213xex991.htm:2]** .

Nordson's President and CEO, Sundaram Nagarajan, highlighted the company's strong performance in the Advanced Technology Solutions segment, driven by improving electronics demand and successful implementation of the NBS Next growth framework. The company remains cautious about the timing of end market recovery, particularly in electronics and agricultural product lines, due to the evolving global macro-environment  **[0000072331-24-000169_ndsn-20241213xex991.htm:0]** **[0000072331-24-000169_ndsn-20241213xex991.htm:2]** .

Adobe has released its earnings results for the fourth quarter and fiscal year 2024, reporting **record revenue** and significant financial performance metrics. For the fourth quarter, Adobe achieved a revenue of **$5.61 billion**, marking an **11% year-over-year growth**. The company's **GAAP diluted earnings per share** was **$3.79**, while the **non-GAAP diluted earnings per share** was **$4.81**. Adobe's **operating income** for the quarter was **$1.96 billion** on a GAAP basis and **$2.60 billion** on a non-GAAP basis. The **net income** was **$1.68 billion** GAAP and **$2.13 billion** non-GAAP  **[0000796343-24-000250_adbeex991q424.htm:0]** .

For the entire fiscal year 2024, Adobe reported a total revenue of **$21.51 billion**, which also represents an **11% year-over-year growth**. The **GAAP operating income** was **$6.74 billion**, and the **non-GAAP operating income** was **$10.02 billion**. The **GAAP net income** was **$5.56 billion**, and the **non-GAAP net income** was **$8.28 billion**. Adobe generated **$8.06 billion** in operating cash flows during the year  **[0000796343-24-000250_adbeex991q424.htm:0]** .

Significant trends affecting Adobe's financial performance include strong demand for its Creative Cloud, Document Cloud, and Experience Cloud products, which are crucial in the AI economy. The company also highlighted its **record operating cash flows** of **$2.92 billion** for the fourth quarter and a **record RPO (Remaining Performance Obligations)** of **$19.96 billion**, reflecting a **16% year-over-year growth**  **[0000796343-24-000250_adbeex991q424.htm:0]** .

Adobe's Digital Media segment revenue was **$4.15 billion** for the quarter, with Document Cloud revenue at **$843 million** and Creative revenue at **$3.30 billion**. The Digital Experience segment revenue was **$1.40 billion**  **[0000796343-24-000250_adbeex991q424.htm:0]** .

Overall, Adobe's strategy, AI innovation, and cross-cloud opportunities are positioning the company well for future growth, with expectations for continued strong performance into 2025  **[0000796343-24-000250_adbeex991q424.htm:0]** .

AutoZone, Inc. has released its earnings results for the first quarter of fiscal 2025, ending November 23, 2024. **Net sales** for the quarter were **$4.3 billion**, marking a **2.1% increase** from the same period in fiscal 2024  **[0001171843-24-006846_f8k_120924.htm:1]** **[0001171843-24-006846_exh_991.htm:0]** . The company's **same store sales** increased by **1.8%** on a constant currency basis, with domestic same store sales rising by **0.3%** and international same store sales by **13.7%**  **[0001171843-24-006846_exh_991.htm:0]** .

**Gross profit** as a percentage of sales was **53.0%**, an increase of 16 basis points from the previous year, driven by higher merchandise margins. However, **operating profit** decreased by **0.9%** to **$841.1 million**. **Net income** for the quarter was **$564.9 million**, down from **$593.5 million** in the same period last year, and **diluted earnings per share** were **$32.52**, slightly lower than last year's **$32.55**  **[0001171843-24-006846_exh_991.htm:4]** **[0001171843-24-006846_exh_991.htm:0]** .

AutoZone's **inventory** increased by **8.7%** compared to the same period last year, and the company opened **34 new stores** during the quarter, including 23 in the U.S., six in Mexico, and five in Brazil, bringing the total store count to **7,387**  **[0001171843-24-006846_exh_991.htm:0]** .

The company repurchased **160 thousand shares** of its common stock during the quarter at an average price of **$3,156** per share, totaling an investment of **$505.2 million**. AutoZone has **$1.7 billion** remaining under its current share repurchase authorization  **[0001171843-24-006846_exh_991.htm:0]** .

AutoZone's CEO, Phil Daniele, expressed satisfaction with the quarter's results, highlighting improvements in DIY same store sales and domestic commercial sales, which increased by **3.2%**. The company remains focused on growth initiatives and improving customer service to enhance market share  **[0001171843-24-006846_exh_991.htm:0]** .

Oracle Corporation has released its fiscal 2025 second quarter financial results. **Total quarterly revenues** increased by 9% year-over-year to **$14.1 billion** in both USD and constant currency. **Cloud services and license support revenues** rose by 12% to **$10.8 billion**. The **cloud license and on-premise license revenues** saw a modest increase of 1% in USD and 3% in constant currency, reaching **$1.2 billion**  **[0000950170-24-134537_orcl-20241209.htm:1]** **[0000950170-24-134537_orcl-ex99_1.htm:1]** .

**GAAP operating income** for the quarter was **$4.2 billion**, while **non-GAAP operating income** was **$6.1 billion**, reflecting a 10% increase. The **GAAP operating margin** stood at 30%, and the **non-GAAP operating margin** was 43%. **GAAP net income** was reported at **$3.2 billion**, and **non-GAAP net income** was **$4.2 billion**, up 12% in both USD and constant currency. **GAAP earnings per share** increased by 24% to **$1.10**, and **non-GAAP earnings per share** rose by 10% to **$1.47**  **[0000950170-24-134537_orcl-ex99_1.htm:1]** .

Significant growth was noted in Oracle's cloud infrastructure segment, with **Cloud Infrastructure (IaaS) revenue** up by 52% to **$2.4 billion**. The **Cloud Application (SaaS) revenue** increased by 10% to **$3.5 billion**. The **Fusion Cloud ERP (SaaS) revenue** grew by 18% to **$0.9 billion**, and the **NetSuite Cloud ERP (SaaS) revenue** rose by 20% in USD to **$0.9 billion**  **[0000950170-24-134537_orcl-ex99_1.htm:1]** .

Oracle's CEO, Safra Catz, highlighted the record level AI demand that drove the significant increase in Oracle Cloud Infrastructure revenue, noting a 336% increase in GPU consumption during the quarter. Oracle's collaboration with Meta on AI Cloud Infrastructure was also emphasized, showcasing Oracle's role in training generative AI models  **[0000950170-24-134537_orcl-ex99_1.htm:1]** .

The board of directors declared a quarterly cash dividend of **$0.40 per share**, payable on January 23, 2025, to stockholders of record as of January 9, 2025  **[0000950170-24-134537_orcl-20241209.htm:2]** **[0000950170-24-134537_orcl-ex99_1.htm:1]** .

CooperCompanies (Nasdaq: COO) has released its financial results for the fiscal fourth quarter and full year ended October 31, 2024. Here are the key highlights from the earnings release:

- **Fourth Quarter 2024 Revenue**: The company reported revenue of **$1,018.4 million**, marking a **10% increase** from the previous year, or **7% organically**. The fiscal year 2024 revenue was **$3.9 billion**, up **8%** both reported and organically  **[0000711404-24-000069_cooperq42024pressrelease.htm:0]** .

- **Earnings Per Share (EPS)**: The GAAP diluted EPS for the fourth quarter was **$0.58**, a **38% increase** from the previous year. For the full fiscal year, the GAAP diluted EPS was **$1.96**, up **33%**. The non-GAAP diluted EPS for the fourth quarter was **$1.04**, up **19%**, and for the fiscal year, it was **$3.69**, up **15%**  **[0000711404-24-000069_cooperq42024pressrelease.htm:0]** .

- **Operating Margins**: The operating margin for the fourth quarter was **19%**, up from **15%** in the previous year, driven by SG&A expense leverage and stronger gross margins. On a non-GAAP basis, the operating margin was **26%**, up from **24%** last year  **[0000711404-24-000069_cooperq42024pressrelease.htm:0]** .

- **CooperVision Revenue**: The revenue for CooperVision was **$676.4 million**, up **9%** from the previous year, with a constant currency growth of **8%**. The revenue growth was consistent across different product categories and geographies  **[0000711404-24-000069_cooperq42024pressrelease.htm:0]** .

- **CooperSurgical Revenue**: The revenue for CooperSurgical was **$342.0 million**, up **12%** from the previous year, with a constant currency growth of **12%** and organic growth of **5%**  **[0000711404-24-000069_cooperq42024pressrelease.htm:0]** .

- **Free Cash Flow**: The company generated a free cash flow of **$128.2 million** for the fourth quarter, after accounting for capital expenditures of **$139.9 million**  **[0000711404-24-000069_cooperq42024pressrelease.htm:0]** .

Al White, Cooper's President and CEO, expressed optimism about the company's performance, highlighting record revenues and non-GAAP EPS, and expressed confidence in continued success in fiscal 2025  **[0000711404-24-000069_cooperq42024pressrelease.htm:0]** .

These results indicate strong financial performance and growth across CooperCompanies' business units, driven by strategic initiatives and market conditions.

Lululemon Athletica Inc. has released its financial results for the third quarter of fiscal 2024, which ended on October 27, 2024. Here are the key highlights from the earnings report:

- **Revenue**: The company reported a 9% increase in net revenue, reaching $2.4 billion. On a constant dollar basis, the increase was 8%  **[0001397187-24-000040_lulu-20241027xex991.htm:0]** .
- **Comparable Sales**: Overall comparable sales increased by 4%, or 3% on a constant dollar basis. Notably, international comparable sales surged by 25%, or 22% on a constant dollar basis, while Americas comparable sales decreased by 2%  **[0001397187-24-000040_lulu-20241027xex991.htm:0]** .
- **Profitability**: Gross profit rose by 12% to $1.4 billion, with a gross margin increase of 150 basis points to 58.5%. Income from operations saw a significant increase of 45% to $490.7 million, and the operating margin improved by 520 basis points to 20.5%  **[0001397187-24-000040_lulu-20241027xex991.htm:0]** .
- **Earnings Per Share**: Diluted earnings per share were reported at $2.87, compared to $1.96 in the same quarter of the previous year  **[0001397187-24-000040_lulu-20241027xex991.htm:0]** .
- **Store Expansion**: The company added 28 new company-operated stores during the quarter, including 14 from the acquisition of its Mexico operations, bringing the total to 749 stores  **[0001397187-24-000040_lulu-20241027xex991.htm:0]** .
- **Stock Repurchase Program**: The board of directors authorized a $1.0 billion increase in the stock repurchase program, with approximately $1.8 billion remaining authorized as of December 5, 2024  **[0001397187-24-000040_lulu-20241027xex991.htm:0]** .

These results reflect Lululemon's strong performance, particularly in international markets, and its strategic focus on expanding its store footprint and enhancing shareholder value through stock repurchases.

Ulta Beauty, Inc. has released its third quarter fiscal 2024 earnings results. **Net sales** for the quarter were **$2.53 billion**, a 1.7% increase from the $2.49 billion reported in the same quarter last year. **Comparable sales** increased by **0.6%**, driven by a 0.5% increase in transactions and a 0.1% increase in average ticket  **[0001558370-24-016047_ulta-20241205xex99d1.htm:0]** .

**Net income** for the quarter was **$242.2 million**, or **$5.14 per diluted share**, compared to $249.5 million, or $5.07 per diluted share, in the prior year  **[0001558370-24-016047_ulta-20241205xex99d1.htm:0]** .

The company opened **28 new stores** and closed two during the quarter, bringing the total to **1,437 stores**  **[0001558370-24-016047_ulta-20241205xex99d1.htm:1]** .

**Significant trends** affecting financial performance include a slight decrease in gross profit margin to **39.7%** from 39.9% due to deleverage of store and supply chain fixed costs, and an increase in SG&A expenses to **27.0%** of net sales from 26.6% due to strategic investments  **[0001558370-24-016047_ulta-20241205xex99d1.htm:0]** .

Ulta Beauty's CEO, Dave Kimbell, noted that the company delivered better-than-expected sales and profitability, reflecting improved sales trends and strong financial discipline. The company remains focused on executing key initiatives to deliver in a dynamic environment  **[0001558370-24-016047_ulta-20241205xex99d1.htm:0]** .

Kroger has released its third quarter 2024 earnings results. Here are the key highlights:

- **Identical Sales**: Kroger reported a 2.3% increase in identical sales without fuel compared to the same period last year  **[0001104659-24-125772_tm2429993d1_ex99-1.htm:1]** .

- **Operating Profit**: The company achieved an operating profit of $828 million, with an adjusted FIFO operating profit of $1,017 million  **[0001104659-24-125772_tm2429993d1_ex99-1.htm:1]** .

- **Earnings Per Share (EPS)**: Kroger reported an EPS of $0.84 and an adjusted EPS of $0.98 for the third quarter  **[0001104659-24-125772_tm2429993d1_ex99-1.htm:1]** .

- **Sales Performance**: Total company sales were $33.6 billion, slightly down from $34.0 billion in the same period last year, primarily due to the sale of Kroger Specialty Pharmacy and lower fuel sales. Excluding these factors, sales increased by 2.7%  **[0001104659-24-125772_tm2429993d1_ex99-1.htm:1]** .

- **Digital and Brand Growth**: Digital sales grew by 11%, and sales of Kroger's own brands outpaced total grocery sales growth  **[0001104659-24-125772_tm2429993d1_ex99-1.htm:1]** .

- **Strategic Initiatives**: Kroger continued to execute its go-to-market strategy, focusing on delivering value through low prices, personalized offers, and high-quality products  **[0001104659-24-125772_tm2429993d1_ex99-1.htm:1]** .

- **Merger with Albertsons**: Kroger remains committed to its proposed merger with Albertsons, which is expected to bring benefits such as lower prices and expanded access to fresh food  **[0001104659-24-125772_tm2429993d1_ex99-1.htm:1]** .

- **Guidance Update**: Kroger has narrowed its guidance range for the full year 2024, expecting identical sales without fuel to grow between 1.20% and 1.50%, adjusted FIFO operating profit to be between $4.6 billion and $4.7 billion, and adjusted net earnings per diluted share to be between $4.35 and $4.45  **[0001104659-24-125772_tm2429993d1_ex99-1.htm:2]** .

These results reflect Kroger's strategic focus on digital growth, brand development, and operational efficiency, positioning the company for sustainable long-term growth despite a challenging macroeconomic environment.

Dollar General Corporation has released its earnings results for the fiscal 2024 third quarter, which ended on November 1, 2024. Here are the key highlights from the report:

- **Net Sales**: Increased by 5.0% to $10.2 billion compared to the same quarter in 2023. This growth was driven by new store openings and an increase in same-store sales, despite some store closures  **[0001104659-24-125759_tm2429662d1_ex99.htm:0]** .

- **Same-Store Sales**: Increased by 1.3%, with growth in the consumables category, although there were declines in home, seasonal, and apparel categories  **[0001104659-24-125759_tm2429662d1_ex99.htm:0]** .

- **Operating Profit**: Decreased by 25.3% to $323.8 million, primarily due to hurricane-related expenses and increased SG&A costs  **[0001104659-24-125759_tm2429662d1_ex99.htm:0]** .

- **Earnings Per Share (EPS)**: Decreased by 29.4% to $0.89  **[0001104659-24-125759_tm2429662d1_ex99.htm:0]** .

- **Cash Flows**: Year-to-date cash flows from operations increased by 52.2% to $2.2 billion  **[0001104659-24-125759_tm2429662d1_ex99.htm:0]** .

- **Dividend**: The Board of Directors declared a quarterly cash dividend of $0.59 per share, payable on or before January 21, 2025  **[0001104659-24-125759_tm2429662d1_ex99.htm:1]** .

- **Trends and Initiatives**: The company announced the Project Elevate initiative to expand its mature store remodel program, aiming to enhance customer experience and drive long-term growth  **[0001104659-24-125759_tm2429662d1_ex99.htm:0]** .

- **Financial Guidance**: The company updated its financial guidance for fiscal year 2024, expecting net sales growth between 4.8% and 5.1% and same-store sales growth between 1.1% and 1.4%  **[0001104659-24-125759_tm2429662d1_ex99.htm:2]** .

These results reflect Dollar General's efforts to navigate a challenging economic environment, including the impact of hurricanes, while continuing to focus on strategic growth initiatives and enhancing shareholder value.

Synopsys, Inc. has released its financial results for the fourth quarter and fiscal year 2024, ending October 31, 2024. **Key highlights** include:

- **Record quarterly revenue** of $1.636 billion, marking an 11% increase year-over-year (YoY), which exceeded the mid-point of their guidance  **[0001193125-24-270723_d868165dex991.htm:1]** .
- **Quarterly GAAP earnings per diluted share (EPS)** were $1.79, while non-GAAP EPS was $3.40, reflecting a 13% YoY increase and surpassing guidance  **[0001193125-24-270723_d868165dex991.htm:1]** .
- **Full-year 2024 revenue** reached a record $6.127 billion, up approximately 15% from the previous year, with a 25% growth in non-GAAP EPS  **[0001193125-24-270723_d868165dex991.htm:1]** .
- Synopsys anticipates **double-digit revenue growth in 2025** and is preparing for the acquisition of Ansys, expected to close in the first half of 2025  **[0001193125-24-270723_d868165dex991.htm:1]** .

The company has also completed the sale of its Software Integrity business, which is now presented as a discontinued operation in their financial statements  **[0001193125-24-270723_d868165dex991.htm:1]** . The strong performance in Q4 and throughout 2024 is attributed to strategic moves such as the sale of the Software Integrity business and the pending acquisition of Ansys, which aligns with their focus on AI-driven technology advancements  **[0001193125-24-270723_d868165dex991.htm:1]** .

Looking forward, Synopsys expects continued growth despite macroeconomic uncertainties, supported by their robust technology offerings and strategic acquisitions  **[0001193125-24-270723_d868165dex991.htm:1]** .

Dollar Tree, Inc. has released its fiscal 2024 third quarter financial results as of December 4, 2024. The company reported a **3.5% increase in consolidated net sales** to $7.56 billion, with same-store net sales growth of **1.8%** across the enterprise. The Dollar Tree segment saw a **1.8% increase** in same-store net sales, while Family Dollar experienced a **1.9% increase**  **[0000935703-24-000057_dltr-20241204.htm:1]** **[0000935703-24-000057_ex991q3-24earningspr.htm:0]** .

**Gross profit** rose by **7.6%** to $2.34 billion, with a gross margin expansion of 120 basis points to **30.9%**. This improvement was primarily due to lower freight costs and better shrink results, although it was partially offset by increased distribution costs  **[0000935703-24-000057_ex991q3-24earningspr.htm:0]** **[0000935703-24-000057_ex991q3-24earningspr.htm:1]** .

The company's **operating income** increased by **10.5%** to $333.4 million, with an operating margin of **4.4%**. On a non-GAAP basis, adjusted operating income rose by **13.8%** to $343.2 million, with an adjusted operating margin of **4.5%**  **[0000935703-24-000057_ex991q3-24earningspr.htm:0]** **[0000935703-24-000057_ex991q3-24earningspr.htm:1]** .

**Net income** for the quarter was $233.3 million, with diluted earnings per share (EPS) of **$1.08**. Adjusted net income was $240.6 million, and adjusted diluted EPS was **$1.12**  **[0000935703-24-000057_ex991q3-24earningspr.htm:0]** **[0000935703-24-000057_ex991q3-24earningspr.htm:1]** .

Looking ahead, Dollar Tree expects fourth quarter fiscal 2024 net sales to range from **$8.1 billion to $8.3 billion**, with adjusted diluted EPS projected between **$2.10 and $2.30**. For the full fiscal year 2024, the company anticipates net sales between **$30.7 billion and $30.9 billion**, with adjusted diluted EPS ranging from **$5.31 to $5.51**  **[0000935703-24-000057_ex991q3-24earningspr.htm:2]** **[0000935703-24-000057_ex991q3-24earningspr.htm:0]** .

The company is also undergoing a strategic review of its Family Dollar segment, which may include a sale or spin-off, and has announced a transition in its Chief Financial Officer position  **[0000935703-24-000057_ex991q3-24earningspr.htm:0]** **[0000935703-24-000057_dltr-20241204.htm:2]** .

Hormel Foods Corporation (NYSE: HRL) has released its earnings results for the fourth quarter and full fiscal year 2024, reporting **net sales of $11.9 billion** for the year and **$3.1 billion** for the fourth quarter. The company achieved an **operating income of $1.1 billion** for the year and **$294 million** for the fourth quarter, with adjusted operating income slightly higher at **$1.1 billion** and **$308 million**, respectively. The **operating margin** was reported at **9.0%** for the year and **9.4%** for the quarter, with adjusted margins at **9.6%** and **9.8%**. Earnings before income taxes were **$1.0 billion** for the year and **$280 million** for the quarter, with adjusted figures at **$1.1 billion** and **$293 million**. The effective tax rate was **22.3%** for the year and **21.5%** for the quarter. Diluted earnings per share were **$1.47** for the year and **$0.40** for the quarter, with adjusted figures at **$1.58** and **$0.42**. Hormel Foods also reported a record cash flow from operations of **$1.3 billion** for the year  **[0000048465-24-000047_hrl-20241204.htm:1]** **[0000048465-24-000047_hrlearningsrelease2024q4.htm:0]** .

The company highlighted the strength of its value-added portfolio and the benefits from its Transform and Modernize (T&M) initiative, which contributed **$75 million** in operating income benefits. This initiative is part of Hormel's strategy to drive growth and enhance shareholder value. The company also noted strong performance in its Retail and Foodservice segments, with significant growth in international markets, particularly in China and through branded exports  **[0000048465-24-000047_hrlearningsrelease2024q4.htm:0]** .

Looking ahead to fiscal 2025, Hormel Foods expects net sales to range between **$11.9 billion and $12.2 billion**, with organic net sales growth of **1% to 3%**. The company anticipates operating income between **$1.13 billion and $1.23 billion**, with adjusted operating income between **$1.18 billion and $1.28 billion**. Diluted earnings per share are projected to be between **$1.51 and $1.65**, with adjusted earnings per share between **$1.58 and $1.72**. The company plans to continue benefiting from the T&M initiative, expecting incremental benefits of **$100 million to $150 million** in fiscal 2025  **[0000048465-24-000047_hrlearningsrelease2024q4.htm:1]** .

Hormel Foods has also announced a 3% increase in its dividend, marking the 59th consecutive year of annual dividend growth, with the annual rate now at **$1.16 per share**  **[0000048465-24-000047_hrlearningsrelease2024q4.htm:1]** .

The Campbell's Company has released its first-quarter fiscal 2025 earnings results, reporting a **10% increase in net sales** to **$2.8 billion**, although organic net sales decreased by **1%**. The company's **Earnings Before Interest and Taxes (EBIT)** were **$367 million**, with adjusted EBIT increasing by **6%** to **$432 million**, influenced by the acquisition of Sovos Brands, Inc. **Earnings Per Share (EPS)** were **$0.72**, with adjusted EPS decreasing by **2%** to **$0.89**. The company also announced a **5% increase in its quarterly dividend** to **$0.39 per share**  **[0000016732-24-000198_exhibit991-q12025.htm:9]** **[0000016732-24-000198_exhibit991-q12025.htm:0]** .

Salesforce has announced its third quarter fiscal 2025 results, highlighting several key financial metrics and trends. **Revenue** for the third quarter was **$9.44 billion**, marking an **8% increase year-over-year** both in actual and constant currency terms. This includes **Subscription & Support Revenue** of **$8.88 billion**, which also saw a **9% year-over-year increase**  **[0001108524-24-000033_crm-q3fy25xexhibit991.htm:0]** .

The company's **GAAP diluted net income per share** was **$1.58**, while the **non-GAAP diluted net income per share** was **$2.41**. Both figures were impacted by losses on strategic investments, which affected GAAP and non-GAAP diluted net income per share by **$(0.17)** and **$(0.18)**, respectively  **[0001108524-24-000033_crm-q3fy25xexhibit991.htm:0]** .

Salesforce reported a **GAAP operating margin** of **20.0%** and a **non-GAAP operating margin** of **33.1%**. The **operating cash flow** for the quarter was **$1.98 billion**, representing a **29% increase year-over-year**, and the **free cash flow** was **$1.78 billion**, up **30% year-over-year**  **[0001108524-24-000033_crm-q3fy25xexhibit991.htm:0]** .

The company returned **$1.6 billion** to stockholders in the form of share repurchases and dividend payments during the third quarter  **[0001108524-24-000033_crm-q3fy25xexhibit991.htm:0]** .

Looking ahead, Salesforce has provided guidance for the fourth quarter of fiscal 2025, with expected revenue between **$9.90 billion and $10.10 billion**, reflecting a **7% to 9% year-over-year growth**. The full-year fiscal 2025 revenue guidance has been raised to **$37.8 billion to $38.0 billion**, with a projected **8% to 9% year-over-year growth**  **[0001108524-24-000033_crm-q3fy25xexhibit991.htm:0]** .

Salesforce's CEO, Marc Benioff, emphasized the role of Agentforce, their AI system, in driving transformation and leading the future of digital labor  **[0001108524-24-000033_crm-q3fy25xexhibit991.htm:0]** .

Overall, Salesforce continues to demonstrate strong financial performance with significant growth in revenue, operating margins, and cash flow, while also focusing on returning value to shareholders through share repurchases and dividends.

**HP Inc. Releases Fiscal 2024 Earnings Results**

On November 26, 2024, HP Inc. announced its fiscal 2024 full-year and fourth-quarter financial results. Here are the key highlights:

- **Fiscal 2024 Full Year Results**:
  - **GAAP Diluted Net EPS**: $2.81, which is above the previously provided outlook of $2.62 to $2.72 per share.
  - **Non-GAAP Diluted Net EPS**: $3.38, within the previously provided outlook of $3.35 to $3.45 per share.
  - **Net Revenue**: $53.6 billion, a slight decrease of 0.3% from the prior-year period.
  - **Net Cash Provided by Operating Activities**: $3.7 billion, with a free cash flow of $3.3 billion.
  - **Shareholder Returns**: $3.2 billion returned to shareholders through share repurchases and dividends.

- **Fourth Quarter Results**:
  - **GAAP Diluted Net EPS**: $0.93, above the previously provided outlook of $0.74 to $0.84 per share.
  - **Non-GAAP Diluted Net EPS**: $0.93, within the previously provided outlook of $0.89 to $0.99 per share.
  - **Net Revenue**: $14.1 billion, an increase of 1.7% from the prior-year period.
  - **Net Cash Provided by Operating Activities**: $1.6 billion, with a free cash flow of $1.5 billion.
  - **Dividend Increase**: HP announced a 5% increase in its quarterly cash dividend, resulting in a dividend of $0.2894 per share starting in the first fiscal quarter of 2025.

- **Segment Performance**:
  - **Personal Systems**: Net revenue was $9.6 billion, up 2% year over year, with a 5.7% operating margin.
  - **Printing**: Net revenue was $4.5 billion, up 1% year over year, with a 19.6% operating margin.

These results reflect HP's steady progress in its Personal Systems and Print segments, positioning the company well for future growth opportunities  **[0000047217-24-000075_hpq-20241126.htm:1]** **[0000047217-24-000075_hp103124exhibit991q424.htm:0]** **[0000047217-24-000075_hp103124exhibit991q424.htm:1]** **[0000047217-24-000075_hp103124exhibit991q424.htm:2]** .

**The J.M. Smucker Co. Announces Fiscal 2025 Second Quarter Results**

On November 26, 2024, The J.M. Smucker Co. released its financial results for the second quarter of fiscal year 2025, which ended on October 31, 2024. Here are the key highlights from the earnings report:

- **Net Sales**: The company reported net sales of $2.3 billion, marking an increase of 17% compared to the same quarter last year. Excluding the impact of acquisitions, divestitures, and foreign currency exchange, net sales increased by 2%  **[0000091419-24-000101_sjm20241126exhibit991.htm:0]** .

- **Earnings**: The net loss per diluted share was $0.23, while adjusted earnings per share increased by 7% to $2.76  **[0000091419-24-000101_sjm20241126exhibit991.htm:0]** .

- **Cash Flow**: Cash provided by operations was $404.2 million, a significant increase from $176.9 million in the prior year. Free cash flow also saw a substantial rise to $317.2 million from $28.2 million in the previous year  **[0000091419-24-000101_sjm20241126exhibit991.htm:0]** .

- **Segment Performance**:
  - **U.S. Retail Coffee**: Net sales increased by 3% to $704.0 million, with a segment profit margin of 28.8%  **[0000091419-24-000101_sjm20241126exhibit991.htm:2]** .
  - **U.S. Retail Frozen Handheld and Spreads**: Net sales rose by 5% to $485.2 million, though segment profit decreased by 10%  **[0000091419-24-000101_sjm20241126exhibit991.htm:3]** .
  - **U.S. Retail Pet Foods**: Net sales decreased by 4% to $445.4 million, but segment profit increased by 25%  **[0000091419-24-000101_sjm20241126exhibit991.htm:3]** .
  - **Sweet Baked Snacks**: This segment contributed $315.5 million in net sales  **[0000091419-24-000101_sjm20241126exhibit991.htm:3]** .
  - **International and Away From Home**: Net sales decreased by 1% to $321.1 million, with a segment profit increase of 13%  **[0000091419-24-000101_sjm20241126exhibit991.htm:3]** .

- **CEO Remarks**: Mark Smucker, Chair of the Board, President, and CEO, highlighted the company's strong performance in key growth platforms and the strategic focus on integrating Hostess Brands and divesting the Voortman® business to prioritize growth opportunities  **[0000091419-24-000101_sjm20241126exhibit991.htm:0]** .

- **Outlook**: The company updated its full-year fiscal 2025 guidance, expecting net sales to increase by 8.5% to 9.5% compared to the prior year, with adjusted earnings per share projected to be between $9.70 and $10.10  **[0000091419-24-000101_sjm20241126exhibit991.htm:2]** .

This report reflects the company's strategic initiatives and financial health, showcasing growth in several key areas despite challenges in others.

**Analog Devices, Inc. (ADI) Earnings Release - November 26, 2024**

Analog Devices, Inc. (NASDAQ: ADI) has announced its financial results for the fourth quarter and fiscal year 2024, which ended on November 2, 2024. Here are the key highlights from the earnings release:

- **Fourth Quarter Revenue**: ADI reported revenue of over $2.4 billion, which exceeded the midpoint of their guidance, with sequential growth across all end markets  **[0000006281-24-000202_adiq424exhibit991.htm:0]** .

- **Fiscal Year 2024 Revenue**: The company achieved revenue of more than $9.4 billion for the fiscal year  **[0000006281-24-000202_adiq424exhibit991.htm:0]** .

- **Operating Cash Flow and Free Cash Flow**: ADI generated an operating cash flow of $3.9 billion and a free cash flow of $3.1 billion during fiscal 2024  **[0000006281-24-000202_adiq424exhibit991.htm:0]** .

- **Shareholder Returns**: The company returned more than $2.4 billion to shareholders, including $0.6 billion in share repurchases and $1.8 billion in dividends  **[0000006281-24-000202_adiq424exhibit991.htm:0]** .

- **Profitability**: Despite challenges such as customer inventory headwinds, ADI maintained operating margins above 40%, demonstrating the resilience of its business model  **[0000006281-24-000202_adiq424exhibit991.htm:0]** .

- **Market Trends**: Orders increased steadily throughout the fourth quarter, particularly in the Automotive end market, although macroeconomic uncertainty continues to affect the pace of recovery  **[0000006281-24-000202_adiq424exhibit991.htm:0]** .

- **Outlook for Fiscal 2025**: ADI remains cautiously optimistic for a strong growth year in fiscal 2025, with strategic investments continuing across engineering, manufacturing, and customer experience  **[0000006281-24-000202_adiq424exhibit991.htm:0]** .

These results underscore ADI's strong performance and strategic positioning as it enters the new fiscal year. The company continues to focus on long-term investments and shareholder value creation.

For more detailed financial data, please refer to the full earnings release and accompanying financial statements  **[0000006281-24-000202_adiq424exhibit991.htm:0]** .

**Best Buy Co., Inc. (BBY) Third Quarter Earnings Results**

On November 26, 2024, Best Buy Co., Inc. announced its financial results for the third quarter ended November 2, 2024. Here are the key highlights:

- **Revenue**: The company reported a total revenue of $9.45 billion, a decrease from $9.76 billion in the same quarter last year. The domestic segment contributed $8.70 billion, while the international segment added $748 million  **[0000764478-24-000038_bby-20241126x8k.htm:1]** **[0000764478-24-000038_bby-20241126xex99.htm:0]** .

- **Comparable Sales**: Enterprise comparable sales declined by 2.9%, with domestic comparable sales down by 2.8% and international comparable sales down by 3.7%  **[0000764478-24-000038_bby-20241126xex99.htm:0]** .

- **Earnings Per Share (EPS)**: GAAP diluted EPS increased by 4% to $1.26, while non-GAAP diluted EPS decreased by 2% to $1.26  **[0000764478-24-000038_bby-20241126xex99.htm:0]** .

- **Operating Income**: GAAP operating income as a percentage of revenue was 3.7%, consistent with the previous year. Non-GAAP operating income as a percentage of revenue was also 3.7%  **[0000764478-24-000038_bby-20241126xex99.htm:0]** .

- **Domestic Segment Performance**: The domestic gross profit rate improved to 23.6% from 22.9% last year, driven by better performance in the services category. However, domestic revenue decreased by 3.3% due to declines in appliances, home theater, and gaming, partially offset by growth in computing, tablets, and services  **[0000764478-24-000038_bby-20241126xex99.htm:1]** .

- **International Segment Performance**: International revenue decreased by 1.6%, with a gross profit rate increase to 22.5% from 22.1% last year. The decline was primarily due to a comparable sales drop and negative foreign exchange impacts  **[0000764478-24-000038_bby-20241126xex99.htm:1]** .

- **Shareholder Returns**: Best Buy returned $339 million to shareholders in the third quarter through dividends and share repurchases. The company plans to spend approximately $500 million on share repurchases during FY25  **[0000764478-24-000038_bby-20241126xex99.htm:1]** .

- **Guidance**: For FY25, Best Buy adjusted its full-year comparable sales guidance to a decline of 2.5% to 3.5% and maintained its non-GAAP operating income rate guidance of 4.1% to 4.2%  **[0000764478-24-000038_bby-20241126xex99.htm:0]** .

These results reflect the challenges Best Buy faces in a fluctuating market environment, with a focus on maintaining profitability and shareholder returns despite a decline in sales  **[0000764478-24-000038_bby-20241126xex99.htm:0]** .

**Agilent Technologies, Inc.** has released its financial results for the fourth fiscal quarter ended October 31, 2024. Here are the key highlights:

- **Fourth-Quarter Fiscal Year 2024 Results**:
  - **Revenue**: $1.70 billion, which is a 0.8% increase on a reported basis but a 0.3% decline on a core basis compared to the same quarter last year.
  - **GAAP Net Income**: $351 million, with earnings per share (EPS) of $1.22, marking a 25% decrease from the fourth quarter of 2023.
  - **Non-GAAP Net Income**: $418 million, with EPS of $1.46, reflecting a 6% increase from the fourth quarter of 2023.

- **Full Fiscal Year 2024 Results**:
  - **Revenue**: $6.51 billion, a decrease of 4.7% on both reported and core bases year-over-year.
  - **GAAP Net Income**: $1.289 billion, with EPS of $4.43, up 6% year-over-year.
  - **Non-GAAP Net Income**: $1.539 billion, with EPS of $5.29, down 3% year-over-year.

- **Fiscal Year 2025 and First-Quarter Outlook**:
  - **Fiscal Year Revenue**: Expected to be between $6.790 billion and $6.870 billion, representing an increase of 4.3% to 5.5% on a reported basis and 2.5% to 3.5% on a core basis.
  - **Non-GAAP EPS**: Expected to range from $5.54 to $5.61 per share.
  - **First-Quarter Revenue Guidance**: Anticipated to be between $1.650 billion and $1.680 billion, with a potential decline of 0.5% to an increase of 1.3% on a reported basis and a decline of 2.0% to 0.2% on a core basis.
  - **Non-GAAP EPS for Q1**: Expected to be between $1.25 and $1.28 per share.

Agilent's management has highlighted the company's new market-based, customer-first strategy and organizational transformation as key factors positioning it for future growth opportunities  **[0001090872-24-000042_a-20241125.htm:1]** **[0001090872-24-000042_exhibit991-q424pressrelease.htm:0]** **[0001090872-24-000042_exhibit991-q424pressrelease.htm:1]** .

**Bath & Body Works, Inc. (BBWI) Third Quarter 2024 Earnings Results**

On November 25, 2024, Bath & Body Works, Inc. released its unaudited financial results for the third quarter of 2024. Here are the key highlights:

- **Net Sales**: The company reported net sales of $1.6 billion, marking a 3% increase compared to the same quarter last year, which had net sales of $1.562 billion  **[0000701985-24-000029_bbwi-20241125.htm:2]** **[0000701985-24-000029_ex991bbwi-20243qearningsre.htm:0]** .

- **Earnings Per Share (EPS)**: Earnings per diluted share were $0.49, which exceeded the company's guidance. This is a slight decrease from $0.52 in the third quarter of 2023  **[0000701985-24-000029_ex991bbwi-20243qearningsre.htm:0]** .

- **Operating Income**: The operating income for the third quarter was $218 million, compared to $221 million in the previous year  **[0000701985-24-000029_ex991bbwi-20243qearningsre.htm:0]** .

- **Net Income**: The net income was reported at $106 million, down from $119 million in the third quarter of 2023  **[0000701985-24-000029_ex991bbwi-20243qearningsre.htm:0]** .

- **Guidance Update**: The company has updated its fiscal year 2024 guidance, expecting net sales to decline between 2.5% to 1.7% compared to fiscal 2023. The full-year earnings per diluted share are now expected to be between $3.46 and $3.59, with adjusted earnings per diluted share expected to be between $3.15 and $3.28  **[0000701985-24-000029_ex991bbwi-20243qearningsre.htm:0]** .

- **CEO's Statement**: Gina Boswell, CEO, highlighted the company's strong performance, attributing it to innovation in core products and effective marketing strategies. She expressed confidence in navigating the volatile retail environment and emphasized the company's readiness for the holiday season  **[0000701985-24-000029_ex991bbwi-20243qearningsre.htm:0]** .

This report indicates a positive trend in sales growth and strategic adjustments in guidance to reflect the company's performance and market conditions.

**Copart, Inc. (NASDAQ: CPRT) has released its financial results for the first quarter of fiscal year 2025, ending October 31, 2024.**

- **Revenue**: The company reported a revenue of $1.15 billion, marking an increase of 12.4% from the same period last year.
- **Gross Profit**: Gross profit increased by 10.4% to $512.1 million.
- **Net Income**: Net income attributable to Copart, Inc. rose by 8.9% to $362.1 million.
- **Earnings Per Share**: Fully diluted earnings per share were $0.37, up from $0.34 last year, an increase of 8.8%.

**Significant Trends**:
- **Service Revenues**: Service revenues increased by 14.8% to $986.3 million.
- **Operating Expenses**: Total operating expenses rose by 18.5%, with significant increases in facility operations and general and administrative expenses.
- **Interest Income**: There was a notable increase in net interest income by 42.3%.

Copart will hold a conference call to discuss these results on November 21, 2024, at 5:30 p.m. Eastern Time. The call will be webcast live and accessible through their investor relations website  **[0000900075-24-000027_cprt10312024ex99-1.htm:0]** **[0000900075-24-000027_cprt-20241121.htm:1]** **[0000900075-24-000027_cprt-20241121.htm:2]** **[0000900075-24-000027_cprt-20241121.htm:0]** **[0000900075-24-000027_cprt10312024ex99-1.htm:1]** **[0000900075-24-000027_cprt10312024ex99-1.htm:2]** **[0000900075-24-000027_cprt10312024ex99-1.htm:3]** .

**Intuit Inc. (INTU) Earnings Release - November 21, 2024**

Intuit Inc. has announced its financial results for the first quarter of fiscal 2025, which ended on October 31, 2024. Here are the key highlights from the earnings release:

- **Revenue Growth**: Intuit reported a total revenue of $3.3 billion, marking a 10% increase compared to the same period last year. The Global Business Solutions Group revenue grew to $2.5 billion, up 9%, while the Online Ecosystem revenue increased by 20% to $1.9 billion  **[0000896878-24-000051_intu-20241121.htm:1]** **[0000896878-24-000051_fy25q1earningspressrelease.htm:0]** .

- **Segment Performance**:
  - **Credit Karma**: Revenue grew by 29% to $524 million, driven by strong performance in personal loans, auto insurance, and credit cards  **[0000896878-24-000051_fy25q1earningspressrelease.htm:0]** **[0000896878-24-000051_fy25q1earningspressrelease.htm:1]** .
  - **Consumer Group**: Revenue was $176 million, down 6%, attributed to the previous year's extended tax filing deadline for California filers  **[0000896878-24-000051_fy25q1earningspressrelease.htm:0]** **[0000896878-24-000051_fy25q1earningspressrelease.htm:1]** .

- **Earnings Per Share**: GAAP diluted earnings per share were reported at $0.70, a decrease from $0.85 in the previous year. Non-GAAP diluted earnings per share were $2.50, showing a slight increase from $2.47  **[0000896878-24-000051_fy25q1earningspressrelease.htm:0]** .

- **Operating Income**: GAAP operating income was $271 million, down 12% from the previous year, while non-GAAP operating income was $953 million, a slight decrease of 1%  **[0000896878-24-000051_fy25q1earningspressrelease.htm:0]** .

- **Forward Guidance**: Intuit reiterated its full fiscal year 2025 guidance, expecting revenue growth of approximately 12 to 13%, with GAAP operating income growth of 28 to 30% and non-GAAP operating income growth of 13 to 14%  **[0000896878-24-000051_fy25q1earningspressrelease.htm:1]** .

- **Dividend Announcement**: The Board of Directors approved a quarterly cash dividend of $1.04 per share, payable on January 17, 2025, representing a 16% increase per share compared to the previous year  **[0000896878-24-000051_intu-20241121.htm:2]** .

These results reflect Intuit's strong start to the fiscal year, driven by its AI-driven platform strategy and robust performance across its business segments, particularly in the Global Business Solutions Group and Credit Karma  **[0000896878-24-000051_fy25q1earningspressrelease.htm:0]** .

**NetApp's Second Quarter Fiscal Year 2025 Earnings Results**

NetApp has released its financial results for the second quarter of fiscal year 2025, which ended on October 25, 2024. Here are the key highlights:

- **Net Revenues**: The company reported net revenues of $1.66 billion, marking a 6% increase compared to the same quarter in the previous year  **[0000950170-24-129714_ntap-20241121.htm:1]** .

- **All-Flash Array Revenue**: NetApp achieved a record all-flash array annualized net revenue run rate of $3.8 billion, which is a 19% increase year-over-year  **[0000950170-24-129714_ntap-ex99_1.htm:0]** .

- **Cloud Storage Services**: Revenue from first-party and marketplace cloud storage services grew by approximately 43% year-over-year  **[0000950170-24-129714_ntap-ex99_1.htm:0]** .

- **Operating Margins**: The GAAP operating margin for the quarter was 21%, while the non-GAAP operating margin reached a record 29%  **[0000950170-24-129714_ntap-ex99_1.htm:0]** .

- **Earnings Per Share**: GAAP net income per share was $1.42, and non-GAAP net income per share was $1.87, both showing significant growth from the previous year  **[0000950170-24-129714_ntap-ex99_1.htm:0]** .

- **Shareholder Returns**: NetApp returned $406 million to stockholders through share repurchases and cash dividends during the quarter  **[0000950170-24-129714_ntap-ex99_1.htm:0]** .

- **Cash and Investments**: The company reported cash, cash equivalents, and investments totaling $2.22 billion at the end of the quarter  **[0000950170-24-129714_ntap-ex99_1.htm:0]** .

- **Cash Flow**: Cash provided by operations was $105 million, compared to $135 million in the same quarter of the previous year  **[0000950170-24-129714_ntap-ex99_1.htm:0]** .

**Significant Trends and Outlook**

- **Hybrid and Public Cloud Segments**: The Hybrid Cloud segment revenue was $1.49 billion, and the Public Cloud segment revenue was $168 million, both showing growth compared to the previous year  **[0000950170-24-129714_ntap-ex99_1.htm:0]** .

- **Financial Guidance**: For the third quarter of fiscal year 2025, NetApp expects net revenues to be between $1.610 billion and $1.760 billion, with GAAP earnings per share ranging from $1.41 to $1.51 and non-GAAP earnings per share from $1.85 to $1.95  **[0000950170-24-129714_ntap-ex99_1.htm:0]** .

- **Full Fiscal Year 2025 Outlook**: The company projects net revenues between $6.540 billion and $6.740 billion, with GAAP earnings per share between $5.48 and $5.68, and non-GAAP earnings per share between $7.20 and $7.40  **[0000950170-24-129714_ntap-ex99_1.htm:0]** .

These results reflect NetApp's strong performance in the data infrastructure market, driven by growth in all-flash storage and cloud services, as well as effective cost management strategies. The company continues to focus on delivering value to its customers and shareholders through innovative solutions and strategic investments  **[0000950170-24-129714_ntap-ex99_1.htm:0]** .

**Ross Stores, Inc. (ROST) Third Quarter Earnings Report**

On November 21, 2024, Ross Stores, Inc. released its financial results for the fiscal quarter ended November 2, 2024. Here are the key highlights from the earnings report:

- **Earnings Per Share (EPS)**: The company reported an EPS of $1.48 for the 13 weeks ended November 2, 2024, which is an increase from $1.33 per share for the same period in 2023.
- **Net Income**: Net income rose to $489 million, up from $447 million in the previous year.
- **Sales**: Sales for the third quarter of 2024 were $5.1 billion, compared to $4.9 billion in the prior year, marking a comparable store sales gain of 1%.
- **Year-to-Date Performance**: For the nine months ended November 2, 2024, EPS was $4.53 on net earnings of $1.5 billion, compared to $3.74 per share on net income of $1.3 billion for the same period in 2023. Sales for the first nine months of 2024 were $15.2 billion, with a 3% increase in comparable store sales over the prior year.

**Operational Insights**:
- The company faced challenges in the third quarter due to high costs on necessities affecting discretionary spending among low-to-moderate income customers. Additionally, severe weather and unseasonably warm temperatures negatively impacted sales.
- Despite these challenges, the operating margin improved to 11.9% from 11.2% last year, due to lower incentive, freight, and distribution costs.
- Ross Stores repurchased 1.8 million shares of common stock for $262 million during the third quarter and is on track to repurchase $1.05 billion in common stock during fiscal 2024 under its two-year $2.1 billion repurchase program.

**Fourth Quarter Guidance**:
- The company projects a 2% to 3% increase in comparable store sales for the fourth quarter ending February 1, 2025.
- EPS for the fourth quarter is expected to be between $1.57 and $1.64, compared to $1.82 for the 14 weeks ended February 3, 2024. The guidance includes a $0.03 per share unfavorable impact from the timing of packaway-related expenses.
- For the full fiscal year ending February 1, 2025, EPS is expected to be in the range of $6.10 to $6.17, up from $5.56 last year.

Ross Stores remains focused on delivering compelling values to maximize potential for profitable growth  **[0000745732-24-000059_rost-20241121.htm:1]** **[0000745732-24-000059_q324exhibit991.htm:0]** **[0000745732-24-000059_q324exhibit991.htm:1]** .

**Deere & Company 4Q 2024 Earnings Results**

Deere & Company has released its earnings results for the fourth quarter of fiscal 2024, reporting a net income of **$1.245 billion** for the quarter, which is a significant decrease from the **$2.369 billion** reported in the same quarter of the previous year. For the full fiscal year 2024, the net income was **$7.1 billion**, down from **$10.166 billion** in fiscal 2023  **[0001558370-24-015876_de-20241121xex99d1.htm:0]** .

### Key Financial Highlights:
- **Net Sales and Revenues**: The company's net sales and revenues for the fourth quarter were **$11.143 billion**, a 28% decrease from **$15.412 billion** in the fourth quarter of 2023. For the full year, net sales and revenues were **$51.716 billion**, down 16% from **$61.251 billion** in 2023  **[0001558370-24-015876_de-20241121xex99d1.htm:0]** .
- **Earnings Per Share (EPS)**: The diluted EPS for the fourth quarter was **$4.55**, compared to **$8.26** in the same period last year. For the full year, the EPS was **$25.62**, down from **$34.63** in 2023  **[0001558370-24-015876_de-20241121xex99d1.htm:0]** .

### Segment Performance:
- **Production & Precision Agriculture**: This segment saw a 38% decrease in net sales for the quarter, with sales totaling **$4.305 billion** compared to **$6.965 billion** in the previous year. The operating profit for this segment also decreased by 64%  **[0001558370-24-015876_de-20241121xex99d1.htm:0]** .
- **Small Agriculture & Turf**: Net sales for this segment were **$2.306 billion**, a 25% decrease from the previous year. The operating profit decreased by 47%  **[0001558370-24-015876_de-20241121xex99d1.htm:0]** .
- **Construction & Forestry**: This segment reported net sales of **$2.664 billion**, a 29% decrease from the previous year, with a 36% decrease in operating profit  **[0001558370-24-015876_de-20241121xex99d1.htm:0]** .

### Financial Services:
- The financial services segment reported a net income of **$173 million** for the fourth quarter, a 9% decrease from **$190 million** in the same quarter of the previous year. This decrease was attributed to a higher provision for credit losses  **[0001558370-24-015876_de-20241121xex99d1.htm:2]** .

### Outlook:
- Deere & Company projects its net income for fiscal 2025 to be in the range of **$5.0 billion to $5.5 billion**. The company remains committed to making investments that enhance customer productivity and profitability despite ongoing market challenges  **[0001558370-24-015876_de-20241121xex99d1.htm:0]** .

### Trends and Challenges:
- The company faced significant market challenges, including lower shipment volumes and sales mix, which impacted its financial performance. However, it has made structural improvements to better align with the current environment and serve its customers more effectively  **[0001558370-24-015876_de-20241121xex99d1.htm:0]** .

**NVIDIA's Third Quarter Fiscal 2025 Earnings Results**

NVIDIA Corporation has announced its financial results for the third quarter of fiscal 2025, ending on October 27, 2024. Here are the key highlights from the earnings report:

- **Record Revenue**: NVIDIA reported a record quarterly revenue of $35.1 billion, which is a 17% increase from the previous quarter and a 94% increase from the same period last year  **[0001045810-24-000315_nvda-20241120.htm:1]** **[0001045810-24-000315_q3fy25pr.htm:0]** .

- **Data Center Performance**: The Data Center segment also achieved record revenue of $30.8 billion, marking a 17% increase from the previous quarter and a 112% increase year-over-year. This growth was driven by strong demand for NVIDIA's Hopper computing platform, which is used for training and inferencing large language models and other AI applications  **[0001045810-24-000315_q3fy25pr.htm:0]** **[0001045810-24-000315_q3fy25cfocommentary.htm:1]** .

- **Earnings Per Share**: The GAAP earnings per diluted share were $0.78, up 16% from the previous quarter and 111% from the previous year. Non-GAAP earnings per diluted share were $0.81, reflecting a 19% increase from the previous quarter and a 103% increase year-over-year  **[0001045810-24-000315_q3fy25pr.htm:0]** .

- **Segment Revenue**:
  - **Compute & Networking**: Revenue was $31.0 billion, up 17% from the previous quarter and 112% year-over-year.
  - **Graphics**: Revenue was $4.0 billion, up 13% from the previous quarter and 16% year-over-year.
  - **Gaming**: Revenue was $3.3 billion, up 14% from the previous quarter and 15% year-over-year.
  - **Professional Visualization**: Revenue was $486 million, up 7% from the previous quarter and 17% year-over-year.
  - **Automotive**: Revenue was $449 million, up 30% from the previous quarter and 72% year-over-year  **[0001045810-24-000315_q3fy25cfocommentary.htm:0]** **[0001045810-24-000315_q3fy25pr.htm:1]** .

- **Outlook for Q4 FY2025**: NVIDIA expects revenue for the fourth quarter of fiscal 2025 to be approximately $37.5 billion, with GAAP and non-GAAP gross margins expected to be around 73.0% and 73.5%, respectively  **[0001045810-24-000315_q3fy25pr.htm:0]** **[0001045810-24-000315_q3fy25cfocommentary.htm:2]** .

These results highlight NVIDIA's strong performance across its various segments, driven by the increasing demand for AI and computing solutions. The company continues to see significant growth in its Data Center and Gaming segments, reflecting its strategic focus on AI and accelerated computing  **[0001045810-24-000315_q3fy25pr.htm:0]** **[0001045810-24-000315_q3fy25cfocommentary.htm:1]** .

**Palo Alto Networks (PANW) Earnings Release Summary**

On November 20, 2024, Palo Alto Networks announced its financial results for the fiscal first quarter of 2025, which ended on October 31, 2024. Here are the key highlights from the earnings release:

- **Revenue Growth**: The company reported a 14% year-over-year increase in total revenue, reaching $2.1 billion compared to $1.9 billion in the same quarter of the previous year  **[0001327567-24-000036_panw-20241120.htm:1]** **[0001327567-24-000036_ex991q125earningsrelease.htm:0]** .

- **Net Income**: GAAP net income for the quarter was $350.7 million, or $0.99 per diluted share, up from $194.2 million, or $0.56 per diluted share, in the fiscal first quarter of 2024. Non-GAAP net income was $544.9 million, or $1.56 per diluted share, compared to $466.3 million, or $1.38 per diluted share, in the previous year  **[0001327567-24-000036_ex991q125earningsrelease.htm:6]** **[0001327567-24-000036_ex991q125earningsrelease.htm:0]** .

- **Next-Generation Security ARR**: The annual recurring revenue for Next-Generation Security grew 40% year-over-year to $4.5 billion  **[0001327567-24-000036_ex991q125earningsrelease.htm:0]** .

- **Remaining Performance Obligation**: This metric increased by 20% year-over-year to $12.6 billion  **[0001327567-24-000036_ex991q125earningsrelease.htm:0]** .

- **Stock Split Announcement**: The board of directors approved a two-for-one forward stock split, which will be effective after the close of trading on December 13, 2024. Trading on a split-adjusted basis is expected to begin on December 16, 2024  **[0001327567-24-000036_ex991q125earningsrelease.htm:0]** **[0001327567-24-000036_panw-20241120.htm:2]** .

- **Financial Outlook**: For the fiscal second quarter of 2025, Palo Alto Networks expects:
  - Next-Generation Security ARR between $4.70 billion and $4.75 billion, representing growth of 35% to 36%.
  - Remaining performance obligation between $12.9 billion and $13.0 billion, representing growth of 20% to 21%.
  - Total revenue in the range of $2.22 billion to $2.25 billion, representing growth of 12% to 14%.
  - Diluted non-GAAP net income per share between $1.54 and $1.56  **[0001327567-24-000036_ex991q125earningsrelease.htm:0]** .

These results highlight Palo Alto Networks' strong performance and strategic focus on platformization, which the company believes will continue to drive growth and innovation in the cybersecurity market  **[0001327567-24-000036_ex991q125earningsrelease.htm:0]** .

### TJX Companies, Inc. Q3 FY25 Earnings Results

**Date:** November 20, 2024

**Key Highlights: **
- **Net Sales:** $14.1 billion, a 6% increase compared to Q3 FY24  **[0000109198-24-000056_tjxq3fy25earningspressrele.htm:0]** .
- **Comparable Store Sales:** Increased by 3%, driven entirely by an increase in customer transactions  **[0000109198-24-000056_tjxq3fy25earningspressrele.htm:0]** .
- **Net Income:** $1.3 billion, with diluted earnings per share (EPS) of $1.14, up 11% from $1.03 in Q3 FY24  **[0000109198-24-000056_tjxq3fy25earningspressrele.htm:0]** .
- **Pretax Profit Margin:** 12.3%, up 0.3 percentage points from last year and above the company's plan  **[0000109198-24-000056_tjxq3fy25earningspressrele.htm:0]** .
- **Cash and Shareholder Distributions:** Returned $997 million to shareholders through share repurchases and dividends in Q3  **[0000109198-24-000056_tjxq3fy25earningspressrele.htm:0]** .
- **Full Year FY25 Outlook:** Increased guidance for pretax profit margin to 11.3% and raised diluted EPS outlook to $4.15 to $4.17  **[0000109198-24-000056_tjxq3fy25earningspressrele.htm:3]** .

**Significant Trends: **
- **Customer Transactions:** The increase in comparable store sales was driven by higher customer transactions, indicating strong customer engagement and satisfaction  **[0000109198-24-000056_tjxq3fy25earningspressrele.htm:0]** .
- **International Performance:** The European team delivered strong results, contributing to a 7% comp increase in the TJX International division  **[0000109198-24-000056_tjxq3fy25earningspressrele.htm:0]** .
- **Investments:** Completed investments in a joint venture with Grupo Axo and a minority equity stake in Brands For Less, expanding TJX's presence in Mexico and the Middle East  **[0000109198-24-000056_tjxq3fy25earningspressrele.htm:0]** **[0000109198-24-000056_tjxq3fy25earningspressrele.htm:3]** .
- **Store Expansion:** Increased store count by 56 stores to a total of 5,057 stores, with a 1.1% increase in square footage  **[0000109198-24-000056_tjxq3fy25earningspressrele.htm:3]** .

**CEO Comments: **
Ernie Herrman, CEO and President, expressed satisfaction with the Q3 results, highlighting the strong execution of off-price business fundamentals and the appeal of TJX's value proposition to a wide range of customers. He also noted the company's excitement for the holiday selling season and confidence in future growth opportunities  **[0000109198-24-000056_tjxq3fy25earningspressrele.htm:0]** .

**Financial Summary: **
- **Net Sales:** $14,063 million (Q3 FY25) vs. $13,265 million (Q3 FY24)  **[0000109198-24-000056_tjxq3fy25earningspressrele.htm:7]** .
- **Net Income:** $1,297 million (Q3 FY25) vs. $1,191 million (Q3 FY24)  **[0000109198-24-000056_tjxq3fy25earningspressrele.htm:7]** .
- **Diluted EPS:** $1.14 (Q3 FY25) vs. $1.03 (Q3 FY24)  **[0000109198-24-000056_tjxq3fy25earningspressrele.htm:7]** .
- **Cash and Cash Equivalents:** $4,718 million as of November 2, 2024  **[0000109198-24-000056_tjxq3fy25earningspressrele.htm:7]** .
- **Total Assets:** $32,436 million as of November 2, 2024  **[0000109198-24-000056_tjxq3fy25earningspressrele.htm:7]** .

For more detailed financial information, visit the Investors section at [TJX.com](https://www.tjx.com)  **[0000109198-24-000056_tjxq3fy25earningspressrele.htm:5]** .

### Target Corporation Q3 2024 Earnings Results

**Date:** November 20, 2024

**Key Highlights: **
- **Comparable Sales:** Increased by 0.3%, driven by a 2.4% increase in guest traffic and a 10.8% growth in digital comparable sales  **[0000027419-24-000177_a2024q3ex-99.htm:0]** **[0000027419-24-000177_a2024q3ex-99.htm:1]** **[0000027419-24-000177_a2024q3ex-99.htm:4]** .
- **Revenue:** Total revenue for the third quarter was $25.7 billion, a 1.1% increase from the previous year  **[0000027419-24-000177_a2024q3ex-99.htm:1]** **[0000027419-24-000177_a2024q3ex-99.htm:2]** .
- **Gross Margin:** The gross margin rate decreased slightly to 27.2% from 27.4% in the previous year, due to higher digital fulfillment and supply chain costs  **[0000027419-24-000177_a2024q3ex-99.htm:1]** **[0000027419-24-000177_a2024q3ex-99.htm:4]** .
- **Operating Income:** Operating income for the third quarter was $1.2 billion, down 11.2% from the previous year  **[0000027419-24-000177_a2024q3ex-99.htm:1]** **[0000027419-24-000177_a2024q3ex-99.htm:2]** .
- **Earnings Per Share (EPS):** GAAP and Adjusted EPS were $1.85, a decrease of 11.9% compared to $2.10 in the previous year  **[0000027419-24-000177_a2024q3ex-99.htm:0]** **[0000027419-24-000177_a2024q3ex-99.htm:1]** **[0000027419-24-000177_a2024q3ex-99.htm:5]** .
- **Net Earnings:** Net earnings for the third quarter were $854 million, down 12.1% from the previous year  **[0000027419-24-000177_a2024q3ex-99.htm:2]** **[0000027419-24-000177_a2024q3ex-99.htm:5]** .
- **Guidance:** For the fourth quarter, Target expects flat comparable sales and GAAP and Adjusted EPS between $1.85 and $2.45. For the full year, the expected GAAP and Adjusted EPS range is $8.30 to $8.90  **[0000027419-24-000177_a2024q3ex-99.htm:0]** **[0000027419-24-000177_a2024q3ex-99.htm:5]** .

**Significant Trends: **
- **Digital Sales Growth:** Digital sales continue to be a significant driver, with a 10.8% increase in the third quarter, reflecting nearly 20% growth in same-day delivery services  **[0000027419-24-000177_a2024q3ex-99.htm:0]** **[0000027419-24-000177_a2024q3ex-99.htm:1]** .
- **Category Performance:** Beauty sales grew by more than 6%, while Food & Beverage and Essentials categories saw low-single-digit growth  **[0000027419-24-000177_a2024q3ex-99.htm:0]** .
- **Cost Pressures:** Higher digital fulfillment and supply chain costs, along with increased team member pay and benefits, impacted the gross margin and operating income  **[0000027419-24-000177_a2024q3ex-99.htm:1]** **[0000027419-24-000177_a2024q3ex-99.htm:4]** .
- **Capital Deployment:** Target repurchased $354 million of its shares and paid $516 million in dividends during the third quarter  **[0000027419-24-000177_a2024q3ex-99.htm:1]** .

**CEO Statement: **
Brian Cornell, CEO of Target Corporation, highlighted the company's ability to navigate a volatile operating environment and expressed confidence in the underlying strength and fundamentals of the business, especially heading into the holiday season  **[0000027419-24-000177_a2024q3ex-99.htm:0]** .

For more detailed information, you can visit the [Target Corporation News Release](https://corporate.target.com/news-features/article/2024/11/q3-2024-earnings)  **[0000027419-24-000177_a2024q3ex-99.htm:0]** .

### Keysight Technologies Reports Fourth Quarter and Fiscal Year 2024 Results

**Date:** November 19, 2024

**Company:** Keysight Technologies, Inc. (NYSE: KEYS)

**Summary:** Keysight Technologies has released its financial results for the fourth fiscal quarter and fiscal year ended October 31, 2024. The company reported strong execution, delivering results above the high end of guidance despite challenging market conditions.

#### **Fourth Quarter Financial Summary: (Q4 2024)  **[0001601046-24-000072_exhibit991-q424pressrelease.htm:0]** **
- **Revenue:** $1.29 billion (compared to $1.31 billion in Q4 2023)
- **GAAP Net Loss:** $73 million, or $0.42 per share (compared to GAAP net income of $226 million, or $1.28 per share, in Q4 2023)
- **Non-GAAP Net Income:** $288 million, or $1.65 per share (compared to $352 million, or $1.99 per share, in Q4 2023)
- **Cash Flow from Operations:** $359 million (compared to $378 million in Q4 2023)
- **Free Cash Flow:** $328 million (compared to $340 million in Q4 2023)
- **Cash and Cash Equivalents:** $1.80 billion as of October 31, 2024

#### **Fiscal Year 2024 Financial Summary:  **[0001601046-24-000072_exhibit991-q424pressrelease.htm:0]** **
- **Revenue:** $4.98 billion (compared to $5.46 billion in FY 2023)
- **GAAP Net Income:** $0.61 billion, or $3.51 per share (compared to $1.06 billion, or $5.91 per share in FY 2023)
- **Non-GAAP Net Income:** $1.10 billion, or $6.27 per share (compared to $1.49 billion, or $8.33 per share in FY 2023)
- **Cash Flow from Operations:** $1.05 billion (compared to $1.41 billion in FY 2023)
- **Free Cash Flow:** $0.91 billion (compared to $1.21 billion in FY 2023)

#### **Reporting Segments:  **[0001601046-24-000072_exhibit991-q424pressrelease.htm:0]** **
- **Communications Solutions Group (CSG):**
  - Revenue: $894 million (flat compared to last year)
  - Growth in commercial communications driven by AI-related investment
  - Decline in aerospace, defense, and government by 6% compared to a record high quarter last year
- **Electronic Industrial Solutions Group (EISG):**
  - Revenue: $393 million (down 6% compared to last year)
  - Reflects ongoing constraint in manufacturing-related customer spending

#### **Outlook for Q1 2025:  **[0001601046-24-000072_exhibit991-q424pressrelease.htm:0]** **
- **Revenue:** Expected to be in the range of $1.265 billion to $1.285 billion
- **Non-GAAP Earnings Per Share:** Expected to be in the range of $1.65 to $1.71

#### **Webcast:  **[0001601046-24-000072_exhibit991-q424pressrelease.htm:0]** **
Keysight’s management will present more details about its fourth quarter and fiscal year 2024 financial results and its first quarter FY2025 outlook on a conference call with investors today at 1:30 p.m. PT. The event will be webcast in listen-only mode and can be accessed at www.investor.keysight.com.

**Contact Information:  **[0001601046-24-000072_exhibit991-q424pressrelease.htm:1]** **
- **Investor Contact:** Paulenier Sims, +1 707-577-2310, paulenier.sims@keysight.com
- **Media Contact:** Claire Rowberry, +1 339-200-9518, claire.rowberry@non.keysight.com

### Lowe's Companies, Inc. Q3 2024 Earnings Results

**Date of Release:** November 19, 2024

**Key Financial Metrics:**
- **Net Earnings:** $1.7 billion
- **Diluted EPS:** $2.99
- **Adjusted Diluted EPS:** $2.89
- **Total Sales:** $20.2 billion
- **Comparable Sales:** Decreased by 1.1%

**Significant Trends and Insights:**
- The decrease in comparable sales was primarily due to continued softness in DIY bigger-ticket discretionary demand, although this was partly offset by storm-related sales and positive comparable sales in Pro and online sectors  **[0000060667-24-000167_exhibit991-11012024.htm:0]** .
- The company experienced high-single-digit positive comps in Pro sales and strong online sales, driven by improvements in traffic and conversion  **[0000060667-24-000167_exhibit992-11012024.htm:0]** .
- Lowe's updated its full-year 2024 outlook, expecting total sales between $83.0 to $83.5 billion and adjusted diluted EPS of approximately $11.80 to $11.90  **[0000060667-24-000167_exhibit991-11012024.htm:1]** .

**Capital Allocation:**
- Lowe's repurchased approximately 2.9 million shares for $758 million and paid $654 million in dividends during the quarter  **[0000060667-24-000167_exhibit991-11012024.htm:0]** .

**CEO Statement:**
Marvin R. Ellison, Lowe's chairman, president, and CEO, noted that the results were modestly better than expected, driven by strong Pro and online sales, and expressed sympathy for those affected by Hurricanes Helene and Milton  **[0000060667-24-000167_exhibit991-11012024.htm:0]** .

**Outlook:**
- Lowe's anticipates modest storm-related demand in the fourth quarter and has adjusted its outlook for the full year 2024 accordingly  **[0000060667-24-000167_exhibit991-11012024.htm:0]** .

For more detailed financial data and non-GAAP reconciliations, please refer to the full earnings release and accompanying documents  **[0000060667-24-000167_exhibit991-11012024.htm:0]** **[0000060667-24-000167_exhibit992-11012024.htm:0]** **[0000060667-24-000167_exhibit991-11012024.htm:1]** .

**Walmart Reports Third Quarter Results for FY25**

**Key Highlights:**

- **Revenue Growth:** Walmart reported a strong revenue growth of 5.5%, with consolidated revenue reaching $169.6 billion. Operating income grew faster at 8.2% to $6.7 billion  **[0000104169-24-000170_earningsreleasefy25q3.htm:0]** .
- **eCommerce Performance:** Global eCommerce sales increased by 27%, driven by store-fulfilled pickup and delivery, and marketplace growth  **[0000104169-24-000170_earningsreleasefy25q3.htm:0]** .
- **Earnings Per Share (EPS):** The company reported a GAAP EPS of $0.57 and an adjusted EPS of $0.58  **[0000104169-24-000170_earningsreleasefy25q3.htm:0]** .
- **Guidance Update:** Walmart raised its guidance for FY25, expecting net sales to grow between 4.8% to 5.1% and adjusted operating income to grow between 8.5% to 9.25% in constant currency  **[0000104169-24-000170_earningsreleasefy25q3.htm:0]** .
- **U.S. Comparable Sales:** Walmart U.S. comparable sales increased by 5.3%, with positive growth in general merchandise  **[0000104169-24-000170_earningsreleasefy25q3.htm:0]** .
- **Gross Margin:** Consolidated gross margin rate increased by 21 basis points, led by Walmart U.S.  **[0000104169-24-000170_earningsreleasefy25q3.htm:0]** .
- **Inventory Management:** Global inventory decreased by 1.0%, including a 0.6% decrease for Walmart U.S., maintaining healthy in-stock levels  **[0000104169-24-000170_earningsreleasefy25q3.htm:0]** .
- **Advertising Business:** The global advertising business grew by 28%, including a 26% increase for Walmart Connect in the U.S.  **[0000104169-24-000170_earningsreleasefy25q3.htm:0]** .
- **Cash Flow:** Operating cash flow increased to $22.9 billion, a rise of $3.9 billion year-to-date, and free cash flow increased to $6.2 billion, up by $1.9 billion year-to-date  **[0000104169-24-000170_earningsreleasefy25q3.htm:0]** .
- **Share Repurchases:** Walmart repurchased 46.0 million shares year-to-date, amounting to $3.0 billion  **[0000104169-24-000170_earningsreleasefy25q3.htm:0]** .

**Significant Trends Affecting Financial Performance:**

- **eCommerce Growth:** The significant increase in eCommerce sales highlights the shift towards online shopping and Walmart's ability to capitalize on this trend through efficient store-fulfilled pickup and delivery services  **[0000104169-24-000170_earningsreleasefy25q3.htm:0]** .
- **Gross Margin Improvement:** The improvement in gross margin is attributed to higher gross margins in Walmart U.S. and growth in membership income, along with reduced losses in eCommerce  **[0000104169-24-000170_earningsreleasefy25q3.htm:0]** .
- **Inventory Management:** Effective inventory management has led to a decrease in global inventory, ensuring healthy in-stock levels and reducing costs associated with excess inventory  **[0000104169-24-000170_earningsreleasefy25q3.htm:0]** .
- **Advertising Revenue:** The growth in the global advertising business, particularly through Walmart Connect, indicates a successful strategy in leveraging digital advertising to drive revenue  **[0000104169-24-000170_earningsreleasefy25q3.htm:0]** .
- **Financial Guidance:** The raised guidance for FY25 reflects Walmart's confidence in continued growth and operational efficiency, despite potential economic pressures  **[0000104169-24-000170_earningsreleasefy25q3.htm:0]** .

**Conclusion:** Walmart's third-quarter results for FY25 demonstrate strong financial performance, driven by robust revenue growth, significant eCommerce expansion, and effective inventory management. The company's raised guidance for FY25 further underscores its positive outlook and strategic initiatives aimed at sustaining growth and enhancing shareholder value.

**Source:**  **[0000104169-24-000170_earningsreleasefy25q3.htm:0]** 

**Medtronic's Second Quarter Fiscal 2025 Earnings Results**

Medtronic plc has released its financial results for the second quarter of fiscal year 2025, which ended on October 25, 2024. Here are the key highlights from the earnings report:

- **Revenue**: The company reported a worldwide revenue of $8.4 billion, marking an increase of 5.3% as reported and 5.0% on an organic basis  **[0001613103-24-000162_exhibit991-fy25q2earningsr.htm:0]** .

- **Earnings Per Share (EPS)**: The GAAP diluted EPS was $0.99, while the non-GAAP diluted EPS was $1.26. The non-GAAP EPS saw a 1% increase, despite a -9 cent impact from foreign currency translation  **[0001613103-24-000162_exhibit991-fy25q2earningsr.htm:0]** .

- **Net Income**: The GAAP net income was $1.270 billion, representing a 40% increase, while the non-GAAP net income was $1.620 billion, a decrease of 3%  **[0001613103-24-000162_exhibit991-fy25q2earningsr.htm:0]** .

- **Guidance Update**: Medtronic has raised its FY25 organic revenue growth guidance to 4.75% to 5% and its diluted non-GAAP EPS guidance to a range of $5.44 to $5.50  **[0001613103-24-000162_exhibit991-fy25q2earningsr.htm:2]** .

- **Segment Performance**:
  - **Cardiovascular Portfolio**: Revenue increased by 6.1% as reported and 5.6% organic, driven by high-single digit growth in Structural Heart & Aortic and mid-single digit growth in Cardiac Rhythm & Heart Failure and Coronary & Peripheral Vascular  **[0001613103-24-000162_exhibit991-fy25q2earningsr.htm:1]** .
  - **Neuroscience Portfolio**: Revenue increased by 7.1% as reported and 6.7% organic, with significant growth in Neuromodulation and steady growth in Cranial & Spinal Technologies and Specialty Therapies  **[0001613103-24-000162_exhibit991-fy25q2earningsr.htm:1]** .
  - **Medical Surgical Portfolio**: Revenue increased by 1.2% as reported and 0.7% organic, with growth in Acute Care & Monitoring and flat results in Surgical & Endoscopy  **[0001613103-24-000162_exhibit991-fy25q2earningsr.htm:2]** .
  - **Diabetes**: Revenue increased by 12.4% as reported and 11.0% organic, driven by the adoption of the MiniMed™ 780G system  **[0001613103-24-000162_exhibit991-fy25q2earningsr.htm:2]** .

- **Strategic Focus**: The company continues to focus on innovation, with strong performance in areas such as transcatheter aortic valve replacement (TAVR), pulsed field ablation (PFA), leadless pacemakers, diabetes, spine, and neuromodulation  **[0001613103-24-000162_exhibit991-fy25q2earningsr.htm:0]** .

These results reflect Medtronic's ongoing commitment to innovation and its ability to execute on its strategic priorities, driving growth across its diverse portfolio of medical technologies.

**Jacobs Solutions Inc. (NYSE: J) has released its financial results for the fiscal fourth quarter and fiscal year ended September 27, 2024.**

### **Q4 2024 Financial Highlights**
- **Revenue**: $3.0 billion, a 4.4% increase year-over-year.
- **Net Income**: $309 million, up 333.1% year-over-year.
- **Earnings Per Share (EPS)**: $2.38, a 277.8% increase year-over-year.
- **Backlog**: $21.8 billion, up 22.5% year-over-year.

### **Fiscal Year 2024 Highlights**
- **Revenue**: $11.5 billion, a 6.0% increase year-over-year.
- **Net Income**: $613 million, up 61.6% year-over-year.
- **EPS**: $4.79, a 57.0% increase year-over-year.
- **Free Cash Flow Conversion**: Exceeded 100% of net income.

### **Significant Trends and Strategic Moves**
- Jacobs completed the separation of its Critical Mission Solutions and Cyber & Intelligence businesses, now trading as Amentum (NYSE: AMTM).
- The company recorded $187 million in mark-to-market gains on its investment in Amentum, boosting Q4 GAAP net income.
- Jacobs is focusing on a simpler, higher-value, and higher-margin portfolio, with strong demand in end markets such as Water and Environmental, Critical Infrastructure, and Life Sciences and Advanced Manufacturing.

### **Outlook for Fiscal Year 2025**
- **Adjusted Net Revenue Growth**: Expected to grow mid-to-high single digits over fiscal 2024.
- **Adjusted EBITDA Margin**: Expected to range from 13.8% to 14.0%.
- **Adjusted EPS**: Expected to range from $5.80 to $6.20.
- **Free Cash Flow Conversion**: Expected to exceed 100% of net income.

Jacobs' strategic shift and financial strength position it well for continued growth and shareholder returns in fiscal year 2025 and beyond  **[0000052988-24-000062_jfy2024q4earningsrelease.htm:0]** **[0000052988-24-000062_j-20241119.htm:1]** .

**ADM Third Quarter 2024 Earnings Results**

Archer-Daniels-Midland Company (ADM) released its third quarter 2024 earnings results on November 18, 2024. Here are the key highlights from the report:

- **Net Earnings**: ADM reported net earnings of $18 million for the third quarter of 2024. However, adjusted net earnings were significantly higher at $530 million, reflecting adjustments for non-cash charges and other specified items  **[0000007084-24-000056_adm-20241118.htm:1]** **[0000007084-24-000056_adm-ex991_2024930xq3.htm:0]** .

- **Earnings Per Share (EPS)**: The company reported a GAAP EPS of $0.04, while the adjusted EPS was $1.09, both showing a decline compared to the previous year  **[0000007084-24-000056_adm-ex991_2024930xq3.htm:0]** .

- **Revenue and Profit**: Total revenues for the quarter were $19,937 million, down from $21,695 million in the same quarter last year. The total segment operating profit was $1,037 million, a decrease of 28% from the previous year  **[0000007084-24-000056_adm-ex991_2024930xq3.htm:10]** **[0000007084-24-000056_adm-ex991_2024930xq3.htm:9]** .

- **Segment Performance**:
  - **Ag Services & Oilseeds**: This segment saw a 43% decline in operating profit to $480 million, impacted by lower margins and higher logistics costs  **[0000007084-24-000056_adm-ex991_2024930xq3.htm:2]** .
  - **Carbohydrate Solutions**: Operating profit was slightly down by 3% to $452 million, with strong performance in starches and sweeteners offset by lower margins in other areas  **[0000007084-24-000056_adm-ex991_2024930xq3.htm:3]** .
  - **Nutrition**: The segment's operating profit decreased by 19% to $105 million, affected by lower margins and higher costs in Human Nutrition  **[0000007084-24-000056_adm-ex991_2024930xq3.htm:3]** .

- **Cash Flows**: Year-to-date cash flows from operating activities were $2,468 million, compared to $1,891 million in the prior year period  **[0000007084-24-000056_adm-ex991_2024930xq3.htm:11]** .

- **Outlook**: ADM anticipates continued challenges with softer market conditions expected into the next year. The company is focusing on productivity and operational excellence to drive value creation  **[0000007084-24-000056_adm-ex991_2024930xq3.htm:0]** .

These results reflect the ongoing challenges in the market, including lower margins and higher costs, which have impacted ADM's financial performance in the third quarter of 2024.


**Occidental Petroleum Corporation (OXY) Third Quarter 2024 Earnings Results**

Occidental Petroleum Corporation has released its financial results for the third quarter of 2024, showcasing strong operational performance across its segments. Here are the key highlights:

- **Net Income**: The company reported a net income attributable to common stockholders of $964 million, or $0.98 per diluted share. Adjusted income was $977 million, or $1.00 per diluted share  **[0000797468-24-000163_oxyex99109-30x24earningsre.htm:0]** .

- **Operating Cash Flow**: Occidental generated an operating cash flow of $3.8 billion, with operating cash flow before working capital adjustments at $3.1 billion  **[0000797468-24-000163_oxyex99109-30x24earningsre.htm:0]** .

- **Free Cash Flow**: The company achieved a free cash flow before working capital of $1.5 billion, supported by capital spending of $1.7 billion and contributions from noncontrolling interests  **[0000797468-24-000163_oxyex99109-30x24earningsre.htm:0]** .

- **Production**: Total company production was 1,412 thousand barrels of oil equivalent per day (Mboed), exceeding the mid-point of guidance by 22 Mboed. The Permian Basin led this performance with an average production of 729 Mboed  **[0000797468-24-000163_oxyex99109-30x24earningsre.htm:0]** .

- **Debt Reduction**: Occidental repaid $4.0 billion of debt, reaching nearly 90% of its short-term debt reduction target  **[0000797468-24-000163_oxyex99109-30x24earningsre.htm:0]** .

- **Segment Performance**:
  - **Oil and Gas**: Pre-tax income for this segment was $1.2 billion, with adjusted income increasing from the previous quarter due to higher sales volumes, despite lower realized commodity prices  **[0000797468-24-000163_oxyex99109-30x24earningsre.htm:0]** .
  - **OxyChem**: The chemical segment exceeded guidance with a pre-tax income of $304 million, maintaining flat income compared to the second quarter  **[0000797468-24-000163_oxyex99109-30x24earningsre.htm:0]** .
  - **Midstream and Marketing**: This segment reported a pre-tax income of $631 million, including significant gains from the sale of common units in Western Midstream Partners, LP  **[0000797468-24-000163_oxyex99109-30x24earningsre.htm:1]** .

- **Commodity Prices**: The average worldwide realized crude oil price was $75.33 per barrel, a decrease of 6% from the prior quarter. Natural gas liquids prices also saw a decrease, while domestic gas prices fell significantly by 26% to $0.40 per Mcf  **[0000797468-24-000163_oxyex99109-30x24earningsre.htm:0]** .

These results reflect Occidental's robust operational capabilities and strategic focus on debt reduction and efficient capital management, positioning the company well for future growth and stability in the energy sector.

**Skyworks Solutions, Inc. (SWKS) Earnings Release - Q4 and Full Year FY24**

Skyworks Solutions, Inc. has released its financial results for the fourth fiscal quarter and the full fiscal year 2024, ending September 27, 2024. Here are the key highlights from the earnings release:

- **Revenue**: The company reported a revenue of $1.025 billion for the fourth fiscal quarter.
- **Earnings Per Share (EPS)**: On a GAAP basis, the diluted EPS was $0.37, while the non-GAAP diluted EPS was $1.55.
- **Operating Income**: GAAP operating income for the quarter was $59 million, whereas non-GAAP operating income was $273 million.
- **Cash Flow**: Skyworks generated an annual operating cash flow of $1.825 billion, with a free cash flow of $1.668 billion, representing a 40% free cash flow margin.

**Significant Trends and Business Highlights**:
- The company experienced a 13% sequential growth in revenue, surpassing the midpoint of its guidance.
- Skyworks is optimistic about the potential of AI to drive a transformative smartphone upgrade cycle, which is expected to increase demand for RF complexity.
- The company secured 5G content for premium Android smartphones and expanded its Wi-Fi 7 design wins with major brands like Linksys and NETGEAR.
- Skyworks also increased its design win momentum in the automotive sector, including 5G front-end modules and digital isolators.

**Outlook for Q1 2025**:
- Skyworks expects revenue for the December quarter to be between $1.05 billion and $1.08 billion, with non-GAAP diluted EPS of $1.57 at the midpoint of the revenue range.
- The company anticipates its mobile business to grow by mid-single digits sequentially, driven by seasonal product ramps.

**Dividend Announcement**:
- The board of directors declared a cash dividend of $0.70 per share, payable on December 24, 2024, to stockholders of record as of December 3, 2024.

These results and projections indicate a strong performance and positive outlook for Skyworks, driven by strategic expansions and market trends in AI and 5G technologies  **[0000004127-24-000100_q424earningsreleaseformex9.htm:0]** **[0000004127-24-000100_swks-20241112.htm:1]** .

**Baxter International Inc. Third-Quarter 2024 Earnings Results**

Baxter International Inc. has released its earnings results for the third quarter of 2024, reporting several key financial metrics and operational updates:

- **Sales Performance**: Baxter's total sales for the third quarter of 2024 amounted to $3.85 billion. Sales from continuing operations were $2.70 billion, marking a 4% increase on both a reported and constant currency basis. This growth was driven by strong performance across all segments, including Medical Products & Therapies, Healthcare Systems & Technologies, and Pharmaceuticals  **[0001628280-24-046501_bax-20240930xex991.htm:0]** **[0001628280-24-046501_bax-20240930xex991.htm:1]** .

- **Earnings Per Share (EPS)**: The company's U.S. GAAP diluted EPS from continuing operations was $0.12, while the adjusted EPS was $0.49. The adjusted total Baxter diluted EPS was $0.80, which exceeded the company's previously issued guidance  **[0001628280-24-046501_bax-20240930xex991.htm:0]** .

- **Operational Highlights**: Baxter has made significant progress in restoring production at its North Cove facility, which was impacted by Hurricane Helene. The facility's highest-throughput IV solutions manufacturing line has been restarted, and new products are expected to begin shipping by the end of November 2024  **[0001628280-24-046501_bax-20240930xex991.htm:0]** **[0001628280-24-046501_bax-20240930xex991.htm:3]** .

- **Strategic Initiatives**: The pending sale of Baxter's Kidney Care business to Carlyle is a major milestone in the company's strategic transformation. This transaction is expected to close in late 2024 or early 2025, subject to regulatory approvals  **[0001628280-24-046501_bax-20240930xex991.htm:3]** .

- **Financial Outlook**: Due to the impact of Hurricane Helene, Baxter has adjusted its full-year 2024 financial outlook. The company now expects total sales growth of 1% to 2% on a reported basis and approximately 2% on a constant currency basis. Adjusted earnings per share for the full year are projected to be between $2.90 and $2.94  **[0001628280-24-046501_bax-20240930xex991.htm:4]** .

These results reflect Baxter's ongoing efforts to navigate operational challenges while pursuing strategic growth initiatives. The company's focus on restoring production capabilities and executing its transformation strategy positions it for continued progress in the coming quarters.

**Paramount Global Q3 2024 Earnings Results**

Paramount Global has released its earnings results for the third quarter of 2024, showcasing significant developments and trends in its financial performance:

- **Revenue and Profitability**: The company reported a total revenue of $6.731 billion for the quarter, a decrease of 6% compared to the same period last year. Despite the decline in revenue, the Direct-to-Consumer (DTC) segment showed a notable improvement, with adjusted OIBDA increasing by $287 million year-over-year to $49 million  **[0001193125-24-253719_d869970dex99.htm:0]** .

- **Direct-to-Consumer Segment**: Paramount+ added 3.5 million new subscribers, reaching a total of 72 million subscribers. The DTC revenue increased by 10% year-over-year, driven by a 25% growth in Paramount+ revenue and an 18% rise in DTC advertising revenue. The segment's profitability was bolstered by cost efficiencies and revenue growth  **[0001193125-24-253719_d869970dex99.htm:0]** **[0001193125-24-253719_d869970dex99.htm:1]** .

- **TV Media Segment**: Revenue in the TV Media segment decreased by 6% to $4.3 billion, primarily due to lower affiliate revenue and fluctuations in licensing revenue. Advertising revenue in this segment decreased by 2%  **[0001193125-24-253719_d869970dex99.htm:1]** .

- **Filmed Entertainment Segment**: This segment experienced a 34% decline in revenue to $590 million, largely due to a 71% decrease in theatrical revenue. However, adjusted OIBDA for the segment increased by $52 million compared to the previous year, which was impacted by labor strikes  **[0001193125-24-253719_d869970dex99.htm:2]** .

- **Cost Savings and Strategic Goals**: Paramount is advancing towards $500 million in annual run rate cost savings through organizational streamlining. The company continues to focus on strategic goals, including the anticipated closure of Skydance transactions in the first half of 2025  **[0001193125-24-253719_d869970dex99.htm:0]** .

These results highlight Paramount's strategic focus on enhancing its DTC offerings and achieving cost efficiencies, despite challenges in other segments such as TV Media and Filmed Entertainment  **[0001193125-24-253719_d869970dex99.htm:0]** **[0001193125-24-253719_d869970dex99.htm:1]** **[0001193125-24-253719_d869970dex99.htm:2]** .

**CVS Health Corporation Third Quarter 2024 Earnings Results**

**Financial Highlights:**
- **Total Revenues:** CVS reported a total revenue of $95.4 billion for the third quarter of 2024, marking a 6.3% increase compared to the same period in the previous year  **[0000064803-24-000033_cvs_ex99x1q3-24.htm:0]** .
- **GAAP and Adjusted EPS:** The GAAP diluted earnings per share (EPS) was $0.07, a significant decrease from $1.75 in the prior year. The adjusted EPS was $1.09, down from $2.21 in the previous year. This decline was primarily due to a decrease in the Health Care Benefits segment's operating results, which included premium deficiency reserves of approximately $1.1 billion  **[0000064803-24-000033_cvs_ex99x1q3-24.htm:0]** .

**Segment Performance:**
- **Pharmacy & Consumer Wellness Segment:** This segment saw a 12.3% increase in total revenues, driven by increased prescription volume and contributions from vaccinations. Adjusted operating income for this segment increased by 14.9%  **[0000064803-24-000033_cvs_ex99x1q3-24.htm:5]** .
- **Health Services Segment:** Total revenues decreased by 5.9% due to the loss of a large client and continued pharmacy client price improvements. However, adjusted operating income increased by 17.4% due to improved purchasing economics  **[0000064803-24-000033_cvs_ex99x1q3-24.htm:4]** .
- **Health Care Benefits Segment:** Total revenues increased by 25.5%, driven by growth in Medicare and Commercial product lines. However, the segment reported an adjusted operating loss of $924 million, primarily due to increased utilization and premium deficiency reserves  **[0000064803-24-000033_cvs_ex99x1q3-24.htm:2]** .

**CEO Commentary:**
David Joyner, CVS Health President and CEO, emphasized the company's commitment to delivering lower costs of care, a simpler experience, and better outcomes for health care consumers. He highlighted the strong performance in the Health Services and Pharmacy & Consumer Wellness segments, while acknowledging the challenges in the Health Care Benefits segment  **[0000064803-24-000033_cvs_ex99x1q3-24.htm:0]** .

**Significant Trends:**
- **Restructuring Charges:** CVS recorded restructuring charges of approximately $1.2 billion in the third quarter of 2024, as part of an enterprise-wide restructuring plan aimed at streamlining operations and reducing costs  **[0000064803-24-000033_cvs_ex99x1q3-24.htm:1]** .
- **Premium Deficiency Reserves:** The company recorded premium deficiency reserves of approximately $1.1 billion, primarily in its Medicare and individual exchange product lines, which impacted the Health Care Benefits segment's performance  **[0000064803-24-000033_cvs_ex99x1q3-24.htm:2]** .

For more detailed financial data and reconciliations, refer to the full earnings release and accompanying financial statements  **[0000064803-24-000033_cvs_ex99x1q3-24.htm:0]** **[0000064803-24-000033_cvs_ex99x1q3-24.htm:1]** .