Krilogy Financial ve třetím čtvrtletí zvýšila svůj podíl v Oracle o 70,8 % nákupem 12 951 akcií, čímž svůj podíl navýšila na 31 241 akcií v hodnotě 4,292 mil. USD.
Krilogy Financial LLC grew its position in Oracle Corporation (NYSE:ORCL – Free Report) by 70.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 31,241 shares of the enterprise software provider’s stock after buying an additional 12,951 shares during the period. Krilogy Financial LLC’s holdings in Oracle were worth $4,292,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Oracle by 0.8% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 14,680,278 shares of the enterprise software provider’s stock worth $2,151,395,000 after purchasing an additional 123,294 shares during the last quarter. Janus Henderson Group PLC lifted its position in Oracle by 8.6% during the 4th quarter. Janus Henderson Group PLC now owns 14,539,366 shares of the enterprise software provider’s stock valued at $2,815,242,000 after purchasing an additional 1,148,698 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Oracle by 3.0% in the 1st quarter. Bank of New York Mellon Corp now owns 13,251,059 shares of the enterprise software provider’s stock valued at $1,949,363,000 after purchasing an additional 384,984 shares during the last quarter. Amundi boosted its stake in shares of Oracle by 1.5% in the 2nd quarter. Amundi now owns 9,878,184 shares of the enterprise software provider’s stock valued at $1,447,648,000 after purchasing an additional 144,087 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Oracle by 1.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,586,492 shares of the enterprise software provider’s stock valued at $1,262,827,000 after purchasing an additional 147,048 shares during the last quarter. Institutional investors own 42.44% of the company’s stock.
Oracle Trading Down 8.8% NYSE:ORCL opened at $130.60 on Thursday. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.89. Oracle Corporation has a 1-year low of $114.50 and a 1-year high of $322.54. The firm has a market capitalization of $394.90 billion, a price-to-earnings ratio of 21.06, a PEG ratio of 1.01 and a beta of 1.78. The business’s 50-day moving average price is $145.93 and its two-hundred day moving average price is $158.89.
Oracle (NYSE:ORCL – Get Free Report) last posted its earnings results on Thursday, September 10th. The enterprise software provider reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.18. The company had revenue of $19.34 billion during the quarter, compared to analyst estimates of $19.13 billion. Oracle had a return on equity of 48.85% and a net margin of 26.36%. The company’s revenue for the quarter was up 29.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.47 EPS. Oracle has set its Q2 2027 guidance at 1.850-1.930 EPS and its FY 2027 guidance at 8.100-8.100 EPS. On average, equities analysts expect that Oracle Corporation will post 6.73 earnings per share for the current year. Oracle Dividend Announcement The company also recently declared a quarterly dividend, which will be paid on Friday, October 23rd. Investors of record on Friday, October 9th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Friday, October 9th. Oracle’s dividend payout ratio (DPR) is currently 31.35%.
Insider Buying and Selling In related news, EVP Maria Smith sold 2,631 shares of the business’s stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $151.70, for a total transaction of $399,122.70. Following the completion of the transaction, the executive vice president owned 64,357 shares in the company, valued at approximately $9,762,956.90. The trade was a 3.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephen Rusckowski acquired 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 29th. The shares were purchased at an average price of $139.35 per share, with a total value of $3,483,750.00. Following the acquisition, the director owned 25,390 shares of the company’s stock, valued at approximately $3,538,096.50. This trade represents a 6,410.26% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold 36,075 shares of company stock valued at $5,342,123 in the last 90 days. 38.40% of the stock is owned by insiders.
Oracle News Summary Here are the key news stories impacting Oracle this week:
Positive Sentiment: Analyst support remains strong: Mizuho reaffirmed its “Outperform” rating and $320 price target, while other analysts maintained bullish views. Oracle’s $664 billion remaining performance obligations and expected cloud growth continue to support the long-term investment case. Wall Street analyst updates Oracle stock price target Positive Sentiment: Project Jupiter is progressing: Oracle proposed an electricity agreement with El Paso Electric and reaffirmed Bloom Energy’s role in powering the New Mexico AI data center campus. If completed, the project could support future cloud capacity and AI-related revenue. Why is Oracle stock gaining 4% today? Neutral Sentiment: Pipeline approval remains unresolved: Oracle urged federal regulators to expedite approval of a 17.8-mile natural-gas pipeline needed for Project Jupiter. Delays could postpone the data center’s launch, although approval would remove a significant execution bottleneck. Oracle urges FERC to expedite New Mexico gas pipeline for Project Jupiter Negative Sentiment: Hotter inflation pushed Treasury yields higher: September inflation data revived expectations for higher-for-longer interest rates, weighing on technology and AI stocks. Higher yields reduce the appeal of growth equities and raise Oracle’s financing costs. Stock Market Today, Oct. 14: Oracle Tumbles on Hotter CPI Data Lifting Treasury Yields Negative Sentiment: Investors are questioning AI spending and balance-sheet risk: Oracle’s heavy capital expenditures have pushed free cash flow into negative territory, while a broader sell-off in AI infrastructure stocks—particularly after concerns about CoreWeave’s debt—raised worries about Oracle’s returns on costly data-center expansion. Will Rising Capex Weigh on Oracle’s Free Cash Flow Outlook? Analyst Ratings Changes Several equities research analysts have recently commented on the stock. Stephens reiterated an “equal weight” rating and set a $175.00 price target on shares of Oracle in a research report on Friday, September 11th. DZ Bank restated a “buy” rating on shares of Oracle in a report on Thursday, September 17th. CLSA assumed coverage on shares of Oracle in a report on Monday, July 20th. They issued a “hold” rating and a $145.00 price objective on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $275.00 price objective (up from $235.00) on shares of Oracle in a research note on Tuesday, September 8th. Finally, BMO Capital Markets lowered their target price on shares of Oracle from $220.00 to $195.00 and set an “outperform” rating for the company in a report on Friday, September 11th. One research analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $251.72.
Check Out Our Latest Stock Analysis on Oracle
Oracle Company Profile (Free Report)
Oracle Corporation (NYSE: ORCL) is a global technology company that develops enterprise software, cloud services and related hardware. Its offerings help businesses manage databases, applications, data, infrastructure and other core information-technology operations.
The company is best known for its Oracle Database, along with cloud-based infrastructure and platform services. Oracle also provides enterprise applications for functions such as finance, human resources, supply-chain management, customer experience and industry-specific operations.
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Kimberly-Clark potvrdila výhled na rok 2026: upravený provozní zisk má při konstantních měnových kurzech růst středním jednociferným tempem, zatímco upravený zisk na akcii (EPS) připadající akcionářům mírně klesne.
Final Third Quarter and Nine Months results to be Released November 5, 2026
, /PRNewswire/ -- Kimberly-Clark Corporation (NASDAQ: KMB) ("Kimberly-Clark"), a core S&P 500 component, today provided estimated preliminary financial data for the three months ended September 30, 2026, on a Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission.
Considering these preliminary results, Kimberly-Clark's outlook for 2026 remains consistent with previous expectations; specifically:
2026 Organic Sales Growth to be approximately 100 basis points below its weighted average category growth in the categories and countries it competes. This primarily reflects realized and potential unfavorable impacts amounting to approximately 100 basis points at a total company level from previously disclosed China social media disruptions. Kimberly-Clark also noted that its weighted average category growth is now approximately 1.7 percent on a trailing 12-month basis. Adjusted Operating Profit to grow mid-single digits on a constant-currency basis. Adjusted Earnings per Share from Continuing Operations to grow high single digits on a constant-currency basis. Adjusted Earnings per Share Attributable to Kimberly-Clark to see a low single digit decline on a constant-currency basis. This outlook reflects assumptions subject to change given the macro environment. In addition, this outlook excludes the impact of any potential acquisitions, including Kimberly-Clark's previously announced pending acquisition of Kenvue Inc. (the "Kenvue Acquisition"), divestitures and other items that have not yet been identified and quantified.
Kimberly-Clark will issue its final third quarter 2026 results on Thursday, November 5. A press release and supplemental materials will be issued at approximately 6:30 a.m. EST.
Kimberly-Clark management will then host a live Q&A session with analysts beginning at 8:00 a.m. EST.
The earnings release, supplemental materials, and Kimberly-Clark's Q&A session can be accessed at the Investor Relations section of the Kimberly-Clark website. A replay of the webcast will be available following the event through the same website.
About Kimberly-Clark
Kimberly-Clark (NASDAQ: KMB) and its trusted brands are an indispensable part of life for people in more than 175 countries and territories. Our portfolio of brands, including Huggies, Kleenex, Scott, Kotex, Cottonelle, Poise, Depend, Pull-Ups, Goodnites, Intimus, Plenitud, Sweety, Softex, Viva and WypAll, hold No. 1 or No. 2 share positions in approximately 70 countries. Our company's purpose is to deliver Better Care for a Better World. We are committed to using sustainable practices designed to support a healthy planet, build strong communities, and enable our business to thrive for decades to come. The KMB stock is a large cap growth and value stock and core S&P 500 equity held by more than 400 Exchange Traded Funds. Kimberly-Clark is considered a dividend aristocrat, having paid a cash dividend to shareholders for 92 consecutive years and increased its dividend for 54 consecutive years. To keep up with the latest news and learn more about the company's more than 150-year history of innovation, visit the Kimberly-Clark website.
Non-GAAP Financial Information
This press release includes certain financial measures, such as Organic Sales Growth, Adjusted Operating Profit, Adjusted Earnings per Share from Continuing Operations, and Adjusted Earnings per Share Attributable to Kimberly-Clark, not calculated in accordance with generally accepted accounting principles in the United States ("GAAP"). Unless specifically stated, all discussions regarding non-GAAP financial measures reflect results from our continuing operations for all periods presented.
We use these non-GAAP financial measures to assist in comparing our performance on a consistent basis for purposes of business decision making by removing the impact of certain items that we do not believe reflect our underlying and ongoing operations. We believe that presenting these non-GAAP financial measures is useful to investors because it (i) provides investors with meaningful supplemental information regarding financial performance by excluding certain items, (ii) permits investors to view performance using the same tools that management uses to budget, make operating and strategic decisions, and evaluate historical performance, and (iii) otherwise provides supplemental information that may be useful to investors in evaluating our results. We believe that the presentation of these non-GAAP financial measures, when considered together with the corresponding U.S. GAAP financial measures and the reconciliation to those measures, provides investors with additional understanding of the factors and trends affecting our business than could be obtained absent these disclosures.
These non-GAAP financial measures are not meant to be considered in isolation or as a substitute for the comparable GAAP measures, and they should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. There are limitations to these non-GAAP financial measures because they are not prepared in accordance with GAAP and may not be comparable to similarly titled measures of other companies due to potential differences in methods of calculation and items being excluded. We compensate for these limitations by using these non-GAAP financial measures as a supplement to the GAAP measures and by providing reconciliations of the non-GAAP and comparable GAAP financial measures.
The non-GAAP financial measures referenced in this press release are presented on a forward-looking basis. Kimberly-Clark does not provide a reconciliation of these forward-looking non-GAAP financial measures to the most directly comparable GAAP financial measures on a forward-looking basis because it is unable to predict certain adjustment items without unreasonable effort. Please note that these items could be material to Kimberly-Clark's results calculated in accordance with GAAP.
Cautionary Statement Regarding Forward-Looking Information
Certain matters contained in this press release, including expectations regarding our 2026 outlook and related guidance, including raw material, energy and other input costs, the anticipated charges and savings from the 2024 Transformation Initiative, cash flow and uses of cash, growth initiatives, innovations, marketing and other spending, net sales, anticipated currency rates and exchange risks, including the impact in Argentina and Türkiye, effective tax rate, contingencies and anticipated transactions of Kimberly-Clark, including dividends, share repurchases and pension contributions, constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act and are qualified by the inherent risks and uncertainties surrounding future expectations generally. There can be no assurance that these future events will occur as anticipated or that our results will be as estimated. Actual results could differ materially from those currently anticipated due to a number of risks and uncertainties, many of which are beyond our control. Forward-looking statements are based upon the expectations and beliefs of the management of Kimberly-Clark as of the date they were made and speak only as of the date they were made. We undertake no obligation to publicly update any forward-looking statements. Some of these forward-looking statements can be identified by words like "anticipate," "approximately," "believe," "continue," "could," "estimate," "expect," "forecast," "intend," "may," "outlook," "plan," "possible," "potential," "predict," "project," "seek," "should," "target," "will" or "would," the negative of these words, other terms of similar meaning or the use of future dates.
The assumptions used as a basis for the forward-looking statements include many estimates that, among other things, depend on the achievement of future cost savings and projected volume increases. In addition, many factors outside our control, including risks and uncertainties around the Kenvue Acquisition (including the risk that the anticipated benefits and synergies of the Kenvue Acquisition may not be realized when expected or at all, the terms and scope of the expected financing in connection with the Kenvue Acquisition may prove to be less favorable than currently expected, that the Kenvue Acquisition may not be completed in a timely manner or at all and the risk of litigation related to the Kenvue Acquisition), the International Family Care and Professional joint venture transaction with Suzano S.A. (including risks relating to the incurrence of significant transaction costs, adverse market reactions, regulatory or legal challenges and operational disruptions), risks that we are not able to realize the anticipated benefits of the 2024 Transformation Initiative (including risks related to disruptions to our business or operations or related to any delays in implementation), war in Ukraine (including the related responses of consumers, customers, and suppliers and sanctions issued by the U.S., the European Union, Russia or other countries), government trade or similar regulatory actions (including current and potential trade and tariff actions affecting the countries where we operate and the resulting negative impacts on our supply chain, commodity costs, and consumer spending), pandemics, epidemics, fluctuations in foreign currency exchange rates, the prices and availability of our raw materials, supply chain disruptions, disruptions in the capital and credit markets, counterparty defaults (including customers, suppliers and financial institutions with which we do business), failure to realize the expected benefits or synergies from our acquisition and disposition activity, impairment of goodwill and intangible assets and our projections of operating results and other factors that may affect our impairment testing, changes in customer preferences, severe weather conditions, regional instabilities and hostilities (including the war in Iran), potential competitive pressures on selling prices for our products, energy costs, general economic and political conditions globally and in the markets in which we do business, as well as our ability to maintain key customer relationships, could affect the realization of these estimates.
Additional information and factors concerning these risks, uncertainties and assumptions can be found in Kimberly-Clark's filings with the SEC, including the risk factors discussed in Kimberly-Clark's most recent Annual Report on Form 10-K, as updated by its Quarterly Reports on Form 10-Q and future filings with the SEC. Forward-looking statements included herein are made only as of the date hereof and Kimberly-Clark undertakes no obligation to update any forward-looking statements, or any other information in this press release, as a result of new information, future developments or otherwise, or to correct any inaccuracies or omissions in them which become apparent. All forward-looking statements in this press release are qualified in their entirety by this cautionary statement.
Costco trades at a valuation that would make most investors flinch, yet buyers keep stepping in and analysts keep raising targets. The reason comes down to one membership metric that changes the math entirely.
Costco (NASDAQ:COST | COST Price Prediction) closed its latest full session at $954.63. The 24/7 Wall St. price target for Costco is $1,057.74 over the next 12 months, which implies 10.8% upside. The stock earns a buy rating with high confidence.
24/7 Wall St. Price Target Summary Metric Value Current Price $954.63 Price Target from 24/7 Wall St. $1,057.74 Upside/Downside 10.8% Recommendation BUY Confidence Level 90% Valuation is the main point. Costco trades at roughly 46x trailing earnings and 42x forward EPS of $22.7822. Our model still sees upside because membership loyalty, steady traffic gains and a six-quarter EPS beat run keep justifying that premium.
A Strong Fiscal Year Finish Revived the Rally Shares rose 1.32% to $967.21 in Wednesday trading and are up 3.37% over the past week, 6.9% over the past month and 12.66% year to date. At its latest close, Costco sat 12.8% below its 52-week high of $1,094.76 and 13.6% higher than its low of $840.35.
The fiscal fourth quarter, reported September 24, delivered EPS of $6.75 versus the $6.53 estimate, including a $0.15 one-time tariff refund benefit.
Revenue of $95.72 billion beat expectations and grew 11.1%. Comparable sales rose 9.4%, or 6.7% excluding gas and currency. That resilience recently gave CNBC’s Jim Cramer a reason to feel better about the stock.
Why Bulls See $1,147 Within Reach Membership quality keeps improving. Paid executive members reached 42.3 million, up 9.4%, and U.S. and Canada renewals hit 92.3%. CEO Ron Vachris noted that “our member base under 40 has grown nearly 60% since COVID,” which builds a pipeline of future high spenders.
Costco plans 33 openings in fiscal 2027, and online enabled sales exceeded $33 billion. With 24 Buy or Strong Buy ratings on the stock, the bull case reaches $1,147.89.
What Could Keep Costco Stuck in Its Range A 46x multiple leaves little room for error. Analysts also noted that membership growth has slowed for eight consecutive quarters, and fee income growth cooled to 7.3% from 14.0% in fiscal Q1.
As a counterpoint, much of that deceleration reflects lapping the 2024 fee increase. Excluding the increase and currency, fee income still grew 6.8%. With 13 Holds and two Sell-side ratings, our bear case stands at $967.31.
Costco’s Premium Over Walmart and BJ’s Looks Earned Walmart (NASDAQ:WMT) is the closest big-box rival and has Sam’s Club. It trades at about 41x earnings, yet Walmart U.S. comps grew just 2.6% last quarter. Costco’s small premium buys far faster comp growth, which makes our target look reasonable.
BJ’s Wholesale Club (NYSE:BJ) is the pure-play warehouse peer. BJ’s grew fee income 9.9% to a record 8.5 million members, but comps excluding gas rose only 3.1%. Costco’s ex-gas growth more than doubles that, supporting a conservative read on our target.
Company P/E Latest Comp Sales Costco 46x 9.4% Walmart (U.S.) 41x 2.6% BJ’s (ex-gas) Not available 3.1% Premium Price, Premium Business: BUY The 24/7 Wall St. price target of $1,057.74 supports a buy rating with 90% confidence. Renewal strength tips the scale.
I’d view the stock even more favorably if executive penetration keeps climbing and renewals improve further. I’d turn conservative if membership growth keeps slowing without offsetting spend gains. Costco is expensive, and I think the business keeps earning that premium.
Here is where the 24/7 Wall St. price target model projects Costco could trade, assuming current trends hold.
Year Price Target from 24/7 Wall St. 2026 (December) $954.59 2027 $1,061.05 2028 $1,156.13 2029 $1,219.90 2030 $1,312.05 These estimates assume Costco keeps executing on warehouse expansion and membership growth. Multiple compression or a faster international rollout could move results meaningfully in either direction.
Contact [email protected] for any questions or corrections.
Krilogy Financial LLC increased its position in CF Industries Holdings, Inc. (NYSE:CF – Free Report) by 155.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,089 shares of the basic materials company’s stock after buying an additional 18,925 shares during the period. Krilogy Financial LLC’s holdings in CF Industries were worth $3,773,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. MassMutual Private Wealth & Trust FSB raised its holdings in CF Industries by 20,006.3% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 150,194 shares of the basic materials company’s stock valued at $19,025,000 after acquiring an additional 149,447 shares during the last quarter. Vann Equity Management LLC lifted its stake in shares of CF Industries by 127.3% during the 3rd quarter. Vann Equity Management LLC now owns 8,797 shares of the basic materials company’s stock worth $1,071,000 after purchasing an additional 4,926 shares during the period. Saudi Central Bank boosted its holdings in shares of CF Industries by 86.8% during the second quarter. Saudi Central Bank now owns 10,753 shares of the basic materials company’s stock worth $1,164,000 after purchasing an additional 4,996 shares during the last quarter. S&CO Inc. acquired a new stake in shares of CF Industries during the second quarter worth $2,630,000. Finally, Teamwork Financial Advisors LLC acquired a new stake in shares of CF Industries during the second quarter worth $10,108,000. Hedge funds and other institutional investors own 93.06% of the company’s stock.
CF opened at $119.51 on Thursday. CF Industries Holdings, Inc. has a 1 year low of $75.42 and a 1 year high of $141.96. The firm has a 50 day moving average price of $123.60 and a 200 day moving average price of $120.42. The company has a debt-to-equity ratio of 0.36, a quick ratio of 4.32 and a current ratio of 4.86. The company has a market cap of $18.09 billion, a PE ratio of 8.86, a price-to-earnings-growth ratio of 0.23 and a beta of 0.53.
CF Industries (NYSE:CF – Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $4.73 earnings per share for the quarter, missing analysts’ consensus estimates of $5.63 by ($0.90). CF Industries had a net margin of 27.12% and a return on equity of 24.41%. The business had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.45 billion. During the same period last year, the firm earned $2.37 earnings per share. The company’s quarterly revenue was up 17.6% on a year-over-year basis. Sell-side analysts expect that CF Industries Holdings, Inc. will post 13.90 earnings per share for the current year. CF Industries Dividend Announcement The firm also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Stockholders of record on Monday, November 16th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, November 16th. CF Industries’s dividend payout ratio (DPR) is currently 17.79%.
Analyst Upgrades and Downgrades Several equities analysts recently commented on CF shares. Scotiabank upped their target price on CF Industries from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Monday, August 10th. Canadian Imperial Bank of Commerce reissued a “neutral” rating and issued a $129.00 price target on shares of CF Industries in a research note on Friday, July 24th. Sanford C. Bernstein began coverage on CF Industries in a report on Friday, September 25th. They issued an “outperform” rating and a $162.00 price target for the company. UBS Group upped their price objective on shares of CF Industries from $115.00 to $123.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Finally, KeyCorp began coverage on shares of CF Industries in a research note on Thursday, September 10th. They set an “underweight” rating and a $115.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $121.11.
Read Our Latest Report on CF Industries
CF Industries Profile (Free Report)
CF Industries Holdings, Inc (NYSE: CF) is a major global producer of nitrogen fertilizer and other nitrogen-based products. The company manufactures ammonia, granular urea, urea ammonium nitrate (UAN), ammonium nitrate and specialty nitrogen products used in agriculture, industrial applications and emissions-control systems.
CF Industries operates a network of production facilities in the United States, Canada and the United Kingdom, serving agricultural and industrial customers in North America and international markets.
Further Reading Five stocks we like better than CF Industries Tesla Wants to Make Its Own Chips—What Could Go Wrong? IREN Limited’s AI Pivot Gains Traction—But Can Its Data Centers Deliver? PBF Energy’s Stunning Rally Faces a Critical Test Citi Stock Falls Despite Earnings Beat: What Investors Need to Know Want to see what other hedge funds are holding CF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CF Industries Holdings, Inc. (NYSE:CF – Free Report).
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CliftonLarsonAllen Wealth Advisors ve třetím čtvrtletí snížila svůj podíl ve společnosti AbbVie o 9,1 % prodejem 2 439 akcií; nyní drží 24 277 akcií v hodnotě 6,351 milionu USD.
Cliftonlarsonallen Wealth Advisors LLC decreased its position in AbbVie Inc. (NYSE:ABBV – Free Report) by 9.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 24,277 shares of the company’s stock after selling 2,439 shares during the quarter. Cliftonlarsonallen Wealth Advisors LLC’s holdings in AbbVie were worth $6,351,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Ranch Capital Advisors Inc. lifted its holdings in AbbVie by 37.0% in the 1st quarter. Ranch Capital Advisors Inc. now owns 14,888 shares of the company’s stock worth $3,238,000 after purchasing an additional 4,017 shares in the last quarter. Capital Advisors Inc. OK boosted its stake in AbbVie by 11.2% in the 2nd quarter. Capital Advisors Inc. OK now owns 447,129 shares of the company’s stock worth $112,516,000 after purchasing an additional 45,132 shares during the period. Danica Pension Livsforsikringsaktieselskab bought a new position in AbbVie in the 2nd quarter worth approximately $23,557,000. Wedge Capital Management L L P NC grew its holdings in AbbVie by 7.5% during the 2nd quarter. Wedge Capital Management L L P NC now owns 134,579 shares of the company’s stock valued at $33,865,000 after buying an additional 9,380 shares in the last quarter. Finally, Mission Wealth Management LP grew its holdings in AbbVie by 119.1% during the 2nd quarter. Mission Wealth Management LP now owns 69,052 shares of the company’s stock valued at $17,376,000 after buying an additional 37,531 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.
Key AbbVie News Here are the key news stories impacting AbbVie this week:
Positive Sentiment: Positive SKYRIZI Crohn’s disease data: Phase 3 AFFIRM results showed that subcutaneous SKYRIZI produced meaningful clinical and endoscopic benefits versus placebo, with a safety profile consistent with the established treatment. The data could support regulatory review of a more convenient induction option and strengthen AbbVie’s post-Humira growth franchise. Did SKYRIZI’s Subcutaneous Crohn’s Data Just Shift AbbVie’s Investment Narrative? Positive Sentiment: Analyst and earnings optimism: RBC reaffirmed an “outperform” rating and cited potential third-quarter strength from RINVOQ, SKYRIZI, and Vraylar. Erste Group also raised its FY2027 EPS estimate to $16.34 from $16.19 while maintaining a “Buy” rating. Investors are looking ahead to AbbVie’s October 30 earnings report. AbbVie Poised for Q3 Top-Line Beat Positive Sentiment: Broad healthcare rally and options activity: Pharmaceutical stocks rallied broadly, supporting ABBV. Investors also purchased 86,296 AbbVie call options, approximately 445% above typical call volume, indicating elevated bullish positioning, although options activity alone does not guarantee further gains. Lilly, Merck, AbbVie Stocks Surge Neutral Sentiment: Mixed comparative view: A Zacks analysis argued that Sanofi currently offers a more attractive combination of valuation, outlook, and Dupixent growth, suggesting AbbVie’s strong recent performance has left less valuation upside relative to some peers. Which Pharma Stock Looks More Attractive: Sanofi or AbbVie? Negative Sentiment: Valuation and conflicting market reaction: One report characterized ABBV as trading above estimated fair value, while another described an initial decline following the new SKYRIZI data. The conflicting reactions highlight execution, regulatory, and valuation risks despite the data’s long-term potential. A Look at AbbVie After a Decline AbbVie Price Performance NYSE:ABBV opened at $283.58 on Thursday. The firm has a market capitalization of $501.03 billion, a price-to-earnings ratio of 25.24, a PEG ratio of 1.25 and a beta of 0.24. The business has a 50 day simple moving average of $261.16 and a 200-day simple moving average of $238.38. AbbVie Inc. has a 1 year low of $190.75 and a 1 year high of $285.40. AbbVie (NYSE:ABBV – Get Free Report) last released its earnings results on Friday, July 31st. The company reported $3.65 earnings per share for the quarter, beating the consensus estimate of $3.61 by $0.04. AbbVie had a negative return on equity of 422.07% and a net margin of 9.80%. The firm had revenue of $16.99 billion for the quarter, compared to the consensus estimate of $16.80 billion. During the same quarter in the previous year, the company posted $2.97 EPS. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. As a group, analysts expect that AbbVie Inc. will post 13.95 earnings per share for the current fiscal year.
AbbVie Dividend Announcement The firm also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, October 15th will be paid a dividend of $1.73 per share. This represents a $6.92 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Thursday, October 15th. AbbVie’s dividend payout ratio (DPR) is currently 195.48%.
Wall Street Analyst Weigh In Several equities research analysts have recently issued reports on ABBV shares. Erste Group Bank upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Wednesday, August 5th. Sanford C. Bernstein restated a “market perform” rating and set a $225.00 target price (up from $203.00) on shares of AbbVie in a research report on Tuesday, June 23rd. Argus upped their target price on shares of AbbVie from $250.00 to $270.00 in a research report on Tuesday, August 4th. BMO Capital Markets raised their target price on shares of AbbVie from $258.00 to $300.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. Finally, JPMorgan Chase & Co. lifted their price target on shares of AbbVie from $285.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and an average price target of $277.18.
View Our Latest Stock Report on ABBV
Insider Activity In related news, EVP Nicholas Donoghoe sold 32,710 shares of the business’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $250.00, for a total transaction of $8,177,500.00. Following the completion of the transaction, the executive vice president owned 74,430 shares in the company, valued at $18,607,500. The trade was a 30.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.06% of the company’s stock.
AbbVie Profile (Free Report)
AbbVie Inc is a global biopharmaceutical company that develops, manufactures and markets medicines for a range of serious and chronic health conditions. Its portfolio spans immunology, oncology, neuroscience, eye care, aesthetics, gastroenterology and women’s health.
The company’s products include the immunology medicines Skyrizi and Rinvoq; neuroscience treatments such as Vraylar, Ubrelvy and Qulipta; and oncology medicines including Imbruvica and Venclexta. AbbVie also markets Botox Cosmetic and Botox Therapeutic, as well as other products for aesthetics, eye care and specialty care.
AbbVie was established in 2013 as an independent, publicly traded company following its separation from Abbott Laboratories.
Further Reading Five stocks we like better than AbbVie Tesla Wants to Make Its Own Chips—What Could Go Wrong? IREN Limited’s AI Pivot Gains Traction—But Can Its Data Centers Deliver? PBF Energy’s Stunning Rally Faces a Critical Test Citi Stock Falls Despite Earnings Beat: What Investors Need to Know Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc. (NYSE:ABBV – Free Report).
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Krilogy Financial LLC raised its stake in Palantir Technologies Inc. (NASDAQ:PLTR – Free Report) by 16.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 22,656 shares of the company’s stock after purchasing an additional 3,256 shares during the period. Krilogy Financial LLC’s holdings in Palantir Technologies were worth $4,238,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Ballast Advisors LLC bought a new stake in Palantir Technologies in the first quarter valued at about $29,000. Whipplewood Advisors LLC acquired a new stake in Palantir Technologies during the first quarter valued at approximately $32,000. Reflection Asset Management bought a new position in Palantir Technologies during the 4th quarter worth approximately $35,000. C M Bidwell & Associates Ltd. bought a new position in Palantir Technologies during the 2nd quarter worth approximately $35,000. Finally, Monetary Solutions Ltd bought a new position in Palantir Technologies during the 4th quarter worth approximately $36,000. Institutional investors own 45.65% of the company’s stock.
Palantir Technologies Stock Down 3.7% Shares of NASDAQ:PLTR opened at $200.97 on Thursday. Palantir Technologies Inc. has a fifty-two week low of $106.37 and a fifty-two week high of $212.94. The firm has a 50-day simple moving average of $181.44 and a 200 day simple moving average of $151.35. The company has a market cap of $482.94 billion, a PE ratio of 171.77, a P/E/G ratio of 2.87 and a beta of 1.60.
Palantir Technologies (NASDAQ:PLTR – Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.07. Palantir Technologies had a net margin of 49.01% and a return on equity of 30.57%. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same quarter in the prior year, the business earned $0.16 earnings per share. Palantir Technologies’s quarterly revenue was up 92.8% on a year-over-year basis. As a group, research analysts forecast that Palantir Technologies Inc. will post 1.31 EPS for the current fiscal year. Analysts Set New Price Targets Several brokerages have recently commented on PLTR. Cantor Fitzgerald began coverage on Palantir Technologies in a research report on Tuesday, August 4th. They issued an “overweight” rating for the company. Benchmark reiterated a “hold” rating on shares of Palantir Technologies in a report on Tuesday, August 4th. Barclays began coverage on Palantir Technologies in a research report on Friday, October 9th. They set an “overweight” rating and a $265.00 price target on the stock. Oppenheimer cut Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Tuesday, August 4th. Finally, Rosenblatt Securities restated a “buy” rating and set a $225.00 price objective on shares of Palantir Technologies in a research note on Wednesday, September 23rd. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $200.54.
View Our Latest Stock Report on PLTR
Insider Activity at Palantir Technologies In other news, Director Lauren Friedman Stat sold 5,026 shares of the stock in a transaction that occurred on Thursday, October 8th. The stock was sold at an average price of $199.00, for a total transaction of $1,000,174.00. Following the sale, the director directly owned 46,402 shares in the company, valued at approximately $9,233,998. This represents a 9.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ryan Taylor sold 18,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 8th. The stock was sold at an average price of $201.15, for a total value of $3,620,700.00. Following the completion of the sale, the insider directly owned 274,667 shares in the company, valued at approximately $55,249,267.05. This trade represents a 6.15% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 560,390 shares of company stock valued at $97,909,177. 9.53% of the stock is owned by insiders.
Trending Headlines about Palantir Technologies Here are the key news stories impacting Palantir Technologies this week:
Positive Sentiment: Goldman Sachs upgraded Palantir Technologies from Neutral to Buy, adding to a series of increasingly favorable analyst actions and reinforcing confidence in the company’s AI-driven growth outlook. Goldman Sachs upgrade Positive Sentiment: Palantir’s Artificial Intelligence Platform (AIP) continues to drive strong U.S. commercial demand, with rising revenue and contract values supporting the view that enterprise AI adoption could fuel further growth. The company’s latest quarter featured 92.8% year-over-year revenue growth and earnings that exceeded estimates. AIP commercial growth Positive Sentiment: The Regna AI venture with Ondas could broaden Palantir’s sovereign-AI and defense opportunity. The partnership is aimed at military and mission-critical uses, including drones, surveillance systems and unmanned vehicles. Regna AI opportunity Neutral Sentiment: Palantir and London Mayor Sadiq Khan dropped their legal dispute over a proposed £50 million Metropolitan Police contract. Ending the litigation removes an uncertainty, although the reports do not indicate that the contract will proceed. London police contract dispute Negative Sentiment: Valuation concerns are weighing on the shares after a roughly 16% monthly advance. Commentators note that Palantir’s exceptional growth and profitability are already reflected in a very demanding valuation, leaving limited room for slower growth or disappointing guidance. Palantir valuation analysis Negative Sentiment: Investors are also positioning cautiously ahead of the company’s expected November 2 earnings report. Palantir has recorded nine consecutive earnings beats, but that streak and the recent rally have raised expectations and increased the risk of a sell-the-news reaction. Upcoming earnings expectations Negative Sentiment: Insider-selling reports added modest pressure to sentiment. Director Lauren Friedman Stat sold shares worth approximately $1.0 million, while another insider sold 18,000 shares for about $3.6 million; both transactions were made under pre-arranged Rule 10b5-1 plans. Palantir insider sales Negative Sentiment: Michael Burry’s bearish positioning in Palantir highlights broader concerns that AI enthusiasm may have pushed some technology stocks beyond reasonable cash-flow expectations. Michael Burry bearish view (Free Report)
Palantir Technologies Inc (NASDAQ: PLTR) develops software platforms that help organizations integrate, analyze and act on large and complex datasets. Its principal platforms include Gotham, which is designed primarily for government and defense applications; Foundry, which supports commercial and institutional data operations; Apollo, which helps deploy and manage software across diverse environments; and the Artificial Intelligence Platform (AIP), which connects large language models and other AI tools with an organization’s data and workflows.
The company serves government agencies, defense and intelligence organizations, and commercial businesses in industries such as manufacturing, healthcare, energy and financial services.
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Poptávka po nájemním bydlení v USA meziročně vzrostla o 19,2 %, protože měsíční hypoteční splátka nového kupujícího stoupla o 5 % na 3 037 USD, což je rychlejší tempo než růst nájemného.
With the typical monthly payment for a new homeowner climbing nearly twice as fast as rent, more shoppers are turning to rentals
Rental demand is up 19.2% year over year nationwide, as measured by the Zillow Observed Renter Demand Index (ZORDI).1 The typical U.S. rent was $1,932 a month in September, up 2.7% from a year ago. The financial advantage of renting is growing, as the typical new home buyer's monthly payment2 is climbing nearly twice as fast as rent, up 5% from a year ago to $3,037. , /PRNewswire/ -- Housing demand doesn't disappear when buying becomes harder financially. Instead, it finds a new home in the rental market. The Zillow Observed Renter Demand Index (ZORDI), an indicator of rental demand, rose 19.2% year over year as elevated borrowing costs push would-be buyers to rent instead, according to the latest Zillow® Rental Market Report.
Rents are climbing, but buying costs are climbing faster. Typical rent is $1,932 a month, up 2.7% from a year ago. By comparison, the typical new home buyer's monthly payment has risen 5%, to $3,037, nearly double the pace.
"Elevated mortgage rates have pushed home shoppers straight into the arms of rentals," said Kara Ng, senior economist at Zillow. "Homeownership has long been a way for families to build wealth, but with the rise in borrowing costs, we're seeing the rise of the deliberate renter, someone who chooses to bank the difference between a buyer's monthly payment and rent, and build wealth without owning a home."
And for many home shoppers, what they still want is a house. ZORDI shows demand for single-family rentals up 21.6% from a year ago, more than double the 10.1% rise for multifamily rentals. At a typical rent of $2,266, renting a house offers the space and lifestyle shoppers want without a down payment or the hidden costs of owning, and it costs $771 less each month than a buyer's monthly payment.
For shoppers weighing renting against buying, Zillow's rent vs. buy research breaks down the break-even timeline by metro, that timeline being the number of years a household would need to own before buying comes out ahead.
Rental demand surges in the Bay Area and the Sun Belt
Rental demand rose the most in San Jose, where ZORDI is up 82.5% from a year ago, followed by San Francisco (66.9%), Austin (49.3%), Miami (48.9%) and Phoenix (43%).
Rent growth over the past year was also fastest in California's Bay Area, where typical rent is up 11.8% in San Francisco and 8.3% in San Jose. In the other markets where demand has jumped the most, rent growth was more moderate, at 0.7% in Austin, 1.8% in Miami and 1% in Phoenix, as new construction has kept supply in step with demand.
Not every market is following the national trend. ZORDI is down year over year in markets that include Louisville (down 6.2%), Baltimore (-6.1%), Washington, D.C. (-5.6%) and Cleveland (-5.5%).
Affordability holds steady for renters
The median household spends 26.3% of its income on a new rental, essentially unchanged from a year ago, compared with 41.3% spent by a new homeowner. A household needs an income of $77,278 to afford a typical rental versus $121,496 to afford a typical home, a gap of more than $44,000.
For renters who are ready to make a move, Zillow brings together apartments, single-family homes and rooms for rent in one place, and Zillow's portable rental application makes applying simpler: one form, one flat fee and 30 days to apply to as many participating properties as needed.
Metro area*
Zillow
Observed
Renter
Demand
Index
(ZORDI),
YoY
Zillow
Observed
Rent
Index
(ZORI)
Zillow
Observed
Rent
Index
(ZORI),
YoY
Typical monthly
payment for a new
homeowner (10%
down, 30-year fixed)
Typical monthly
payment for a new
homeowner (10%
down, 30-year
fixed), YoY
United States
19.2 %
$1,932
2.7 %
$3,037
5.0 %
New York, NY
19.3 %
$3,546
4.2 %
$6,296
8.6 %
Los Angeles, CA
25.9 %
$2,929
1.8 %
$7,473
5.3 %
Chicago, IL
21.6 %
$2,163
4.7 %
$3,120
8.5 %
Dallas, TX
38.9 %
$1,659
0.7 %
$3,205
1.6 %
Houston, TX
32.2 %
$1,638
0.1 %
$2,665
1.9 %
Washington, DC
-5.6 %
$2,407
1.4 %
$4,673
4.1 %
Philadelphia, PA
13.1 %
$1,903
3.3 %
$3,335
6.1 %
Miami, FL
48.9 %
$2,654
1.8 %
$4,259
3.8 %
Atlanta, GA
26.3 %
$1,843
2.1 %
$3,154
2.3 %
Boston, MA
21.2 %
$2,987
2.3 %
$5,926
6.0 %
Phoenix, AZ
43.0 %
$1,720
1.0 %
$3,400
3.1 %
San Francisco, CA
66.9 %
$3,445
11.8 %
$8,931
7.1 %
Riverside, CA
26.9 %
$2,533
2.9 %
$4,689
4.5 %
Detroit, MI
8.4 %
$1,514
4.2 %
$2,267
5.5 %
Seattle, WA
7.7 %
$2,250
1.8 %
$5,817
2.3 %
Minneapolis, MN
21.0 %
$1,736
3.5 %
$3,341
5.4 %
San Diego, CA
29.1 %
$2,967
2.2 %
$7,308
4.8 %
Tampa, FL
23.2 %
$1,991
0.4 %
$3,128
2.8 %
Denver, CO
19.6 %
$1,900
0.0 %
$4,457
2.2 %
Baltimore, MD
-6.1 %
$1,937
2.7 %
$3,337
4.2 %
St. Louis, MO
-1.1 %
$1,427
4.1 %
$2,377
6.8 %
Orlando, FL
21.1 %
$1,929
0.8 %
$3,301
2.3 %
Charlotte, NC
17.6 %
$1,735
1.4 %
$3,057
3.2 %
San Antonio, TX
28.7 %
$1,415
-0.7 %
$2,430
1.8 %
Portland, OR
15.7 %
$1,803
1.1 %
$4,394
3.7 %
Sacramento, CA
22.8 %
$2,269
1.8 %
$4,633
3.9 %
Pittsburgh, PA
7.7 %
$1,467
3.5 %
$1,995
3.9 %
Cincinnati, OH
0.0 %
$1,522
2.8 %
$2,590
5.9 %
Austin, TX
49.3 %
$1,603
0.7 %
$3,696
-0.6 %
Las Vegas, NV
16.9 %
$1,732
0.5 %
$3,272
1.5 %
Kansas City, MO
12.4 %
$1,534
3.8 %
$2,818
7.2 %
Columbus, OH
4.0 %
$1,525
2.9 %
$2,813
4.9 %
Indianapolis, IN
24.2 %
$1,528
3.5 %
$2,449
4.8 %
Cleveland, OH
-5.5 %
$1,440
4.5 %
$2,217
7.3 %
San Jose, CA
82.5 %
$3,812
8.3 %
$11,845
4.3 %
Nashville, TN
15.0 %
$1,803
1.2 %
$3,558
3.5 %
Virginia Beach, VA
40.0 %
$1,886
7.1 %
$3,095
6.6 %
Providence, RI
-1.3 %
$2,166
4.2 %
$4,331
7.4 %
Jacksonville, FL
35.5 %
$1,680
2.2 %
$3,037
3.6 %
Milwaukee, WI
6.1 %
$1,549
5.1 %
$3,364
8.9 %
Oklahoma City, OK
14.8 %
$1,384
2.4 %
$2,191
4.5 %
Raleigh, NC
23.2 %
$1,669
1.4 %
$3,487
2.2 %
Memphis, TN
19.0 %
$1,393
1.1 %
$2,116
3.7 %
Richmond, VA
-2.7 %
$1,706
2.5 %
$3,182
6.5 %
Louisville, KY
-6.2 %
$1,339
2.0 %
$2,337
5.3 %
New Orleans, LA
7.9 %
$1,577
1.7 %
$2,424
4.8 %
Salt Lake City, UT
7.4 %
$1,644
0.7 %
$4,337
5.1 %
Hartford, CT
-2.9 %
$1,998
3.5 %
$3,580
8.5 %
Buffalo, NY
24.0 %
$1,451
3.8 %
$2,274
7.6 %
Birmingham, AL
23.9 %
$1,404
2.9 %
$2,116
6.3 %
*Table ordered by market size
About Zillow Group:
Zillow Group, Inc. (Nasdaq: Z and ZG) is reimagining real estate to make home a reality for more and more people.
As the most visited real estate app and website in the United States, Zillow connects hundreds of millions of consumers with innovative technology, trusted agents and loan officers, and seamless digital solutions. With industry-leading tools and resources, Zillow supercharges real estate professionals so they can grow their businesses and deliver exceptional client experiences. For renters and housing providers, Zillow offers not only a robust marketplace but a set of end-to-end products and services to streamline applications, leases, payments and more.
Zillow's ecosystem spans the entire home journey — from dreaming and shopping to renting, buying, selling and financing.
Zillow Group's affiliates, subsidiaries and brands include Zillow®, Zillow Premier Agent®, Zillow Home Loans®, Zillow Rentals®, Zillow® New Construction, Trulia®, StreetEasy®, Out East®, HotPads®, Follow Up Boss®, ShowingTime®, dotloop® and Zillow® Closing.
1 The Zillow Observed Renter Demand Index (ZORDI) is a measure of the typical observed rental market engagement across a region. It tracks engagement on Zillow's rental listings to proxy changes in rental demand and is smoothed to remove volatility.
2 Reflects the typical new home buyer's monthly payment on a typical home (Zillow Home Value Index) with 10% down and a 30-year fixed rate, including principal and interest, property taxes and insurance.
Krilogy Financial LLC increased its position in shares of Occidental Petroleum Corporation (NYSE:OXY – Free Report) by 164.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,969 shares of the oil and gas producer’s stock after buying an additional 26,084 shares during the period. Krilogy Financial LLC’s holdings in Occidental Petroleum were worth $2,566,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in OXY. Fluent Financial LLC purchased a new position in Occidental Petroleum in the third quarter valued at about $1,903,000. Fermata Advisors LLC acquired a new stake in Occidental Petroleum during the 3rd quarter valued at approximately $264,000. NorthCrest Asset Manangement LLC grew its stake in Occidental Petroleum by 100.5% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 34,504 shares of the oil and gas producer’s stock valued at $2,080,000 after purchasing an additional 17,299 shares in the last quarter. Perpetual Ltd grew its stake in Occidental Petroleum by 114.0% during the 3rd quarter. Perpetual Ltd now owns 31,015 shares of the oil and gas producer’s stock valued at $1,716,000 after purchasing an additional 16,523 shares in the last quarter. Finally, Woodstock Corp increased its holdings in Occidental Petroleum by 31.2% during the 3rd quarter. Woodstock Corp now owns 31,907 shares of the oil and gas producer’s stock worth $1,765,000 after purchasing an additional 7,582 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.
Analysts Set New Price Targets A number of equities analysts have issued reports on the company. Susquehanna upped their target price on Occidental Petroleum from $67.00 to $70.00 and gave the company a “positive” rating in a research report on Tuesday, August 11th. Stifel Nicolaus began coverage on Occidental Petroleum in a research note on Thursday, September 10th. They set a “hold” rating and a $68.00 target price for the company. Stephens decreased their price target on shares of Occidental Petroleum from $73.00 to $69.00 and set an “overweight” rating for the company in a research report on Tuesday, July 14th. UBS Group lifted their price target on shares of Occidental Petroleum from $67.00 to $73.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Morgan Stanley cut their price target on shares of Occidental Petroleum from $74.00 to $68.00 and set an “equal weight” rating on the stock in a report on Friday, June 26th. Twelve research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. According to MarketBeat.com, Occidental Petroleum presently has a consensus rating of “Hold” and a consensus target price of $65.92.
Check Out Our Latest Stock Analysis on Occidental Petroleum Occidental Petroleum Stock Down 0.4% NYSE:OXY opened at $61.42 on Thursday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.13 and a current ratio of 1.41. The company has a market capitalization of $61.40 billion, a price-to-earnings ratio of 9.51, a price-to-earnings-growth ratio of 0.96 and a beta of 0.24. Occidental Petroleum Corporation has a one year low of $38.80 and a one year high of $67.45. The stock has a 50-day simple moving average of $59.18 and a 200 day simple moving average of $57.28.
Occidental Petroleum (NYSE:OXY – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The oil and gas producer reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.57. Occidental Petroleum had a return on equity of 15.31% and a net margin of 28.36%. The firm had revenue of $8.06 billion for the quarter, compared to analysts’ expectations of $7.07 billion. During the same quarter in the prior year, the firm posted $0.39 earnings per share. Occidental Petroleum’s revenue for the quarter was up 53.4% compared to the same quarter last year. Sell-side analysts predict that Occidental Petroleum Corporation will post 6.20 EPS for the current fiscal year.
Occidental Petroleum Increases Dividend The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, September 10th will be issued a $0.28 dividend. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.26. The ex-dividend date is Thursday, September 10th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.8%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 17.34%.
Occidental Petroleum Profile (Free Report)
Occidental Petroleum Corporation, commonly known as Oxy, is an energy company engaged in the exploration, development and production of oil and natural gas. Its upstream operations are concentrated in the United States, including the Permian and Denver-Julesburg basins, and in selected international regions such as the Middle East and North Africa.
The company also operates midstream and marketing businesses that support the gathering, processing, transportation and sale of oil, natural gas and natural gas liquids.
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Studie společnosti Lilly ukázaly, že po roce dosáhlo komplexní kontroly ulcerózní kolitidy při léčbě přípravkem Omvoh 27,7 % pacientů oproti 14 % u placeba; u Crohnovy nemoci dosáhlo hluboké remise bez kortikosteroidů 20,4 % pacientů oproti 2 % u placeba.
In LUCENT-2, more than one in four (27.7%) Omvoh-treated patients with ulcerative colitis achieved comprehensive disease control, a novel composite outcome defined by simultaneous symptomatic, endoscopic and histologic remission, biomarker normalization and no corticosteroid use
In VIVID-1, one in five (20.4%) Omvoh-treated patients with Crohn's disease achieved corticosteroid-free deep remission, a composite outcome defined by simultaneous clinical remission, endoscopic remission and no corticosteroid use
Across both types of inflammatory bowel disease, including patients with prior biologic failure, achieving comprehensive disease control or corticosteroid-free deep remission was associated with improved patient-reported outcomes
, /PRNewswire/ -- New data analyses from Eli Lilly and Company (NYSE: LLY) show patients with moderately to severely active ulcerative colitis (UC) and Crohn's disease treated with Omvoh (mirikizumab-mrkz) achieved multiple treatment goals simultaneously at one year, as measured by comprehensive disease control in UC and corticosteroid-free deep remission in Crohn's disease. These multidimensional outcomes were observed even in patients with prior biologic failure, a population often facing greater treatment challenges. More than one-third of patients in the UC analysis and nearly half of patients in the Crohn's disease analysis had previously experienced biologic treatment failure. Furthermore, patients who achieved these endpoints were more likely to also achieve remission on the Inflammatory Bowel Disease Questionnaire (IBDQ), a validated patient-reported measure of health-related quality of life. Together, these findings reflect an evolution of treatment goals in inflammatory bowel disease (IBD), looking across symptoms, inflammation and impact of disease on daily life to support a more holistic, patient-centered approach that goes beyond clinical remission. These post-hoc data from the LUCENT and VIVID programs will be presented at United European Gastroenterology (UEG) Week 2026.1,2
"Treatment in inflammatory bowel disease is often measured one endpoint at a time. These new data show that patients treated with Omvoh achieved multiple treatment goals simultaneously at one year, including those with prior biologic failure, and were more likely to report better quality of life," said Anabela Cardoso, senior vice president, Lilly Immunology Medical Affairs. "These findings reinforce the impact that Omvoh can have for people living with ulcerative colitis and Crohn's disease and show that a higher bar for disease control is achievable."
A comprehensive approach to IBD management considers multiple dimensions of disease, including the symptoms patients experience, what clinicians can objectively measure and how disease affects daily life.3-4 In previously published real-world studies, improvements across multiple dimensions of disease have been associated with a lower risk of flares, steroid use, hospitalization and surgery over time.4-7
"Inflammatory bowel disease is complex, and understanding treatment impact requires a broader view than any single endpoint can provide. These endpoints reflect a meaningful shift in how we define treatment success," said Stefan Schreiber, M.D., University Hospital Schleswig-Holstein, Christian-Albrecht University of Kiel. "Across the LUCENT and VIVID programs, Omvoh-treated patients achieved multidimensional treatment outcomes, including comprehensive disease control in ulcerative colitis and corticosteroid-free deep remission in Crohn's disease. Importantly, these outcomes were also observed in patients with prior biologic failure."
Comprehensive disease control with Omvoh in ulcerative colitis
Comprehensive disease control is a novel composite outcome, informed by an international expert consensus3, that combines clinical remission*, no corticosteroid use for at least 12 weeks before Week 52, histologic remission† and fecal calprotectin ≤250 μg/g. Omvoh is the first IL-23p19 inhibitor evaluated for comprehensive disease control in UC, reflecting an evolving approach to treatment goals that goes beyond individual measures of disease activity for people living with UC.
Comprehensive disease control was evaluated in a post hoc analysis at one year in patients with UC who responded to Omvoh at Week 12 in the LUCENT-1 induction study and were re-randomized in LUCENT-2 to continue Omvoh or receive placebo. More than one-third of patients (35.3%) had previously experienced biologic treatment failure.
At one year:1
27.7% of patients treated with Omvoh achieved comprehensive disease control compared with 14% receiving placebo.‡ Among patients with prior biologic failure, 23.4% of those treated with Omvoh achieved comprehensive disease control compared with 9.4% receiving placebo.‡ Among Omvoh-treated patients, 91.1% of those who achieved comprehensive disease control also achieved IBDQ remission§, compared with 65.2% of those who did not achieve comprehensive disease control. Omvoh-treated patients who achieved comprehensive disease control were also more likely to report no to minimal bowel urgency (bowel urgency remission) and greater improvements in work productivity than those who did not achieve comprehensive disease control.∥ Corticosteroid-free deep remission with Omvoh in Crohn's disease
Corticosteroid-free deep remission was evaluated in a post hoc analysis at one year in patients with Crohn's disease in VIVID-1. Nearly half of patients (48.6%) had previously experienced biologic treatment failure. Corticosteroid-free deep remission is a composite outcome that combines clinical remission (as measured by the Crohn's Disease Activity Index), endoscopic remission and no corticosteroid use for at least 12 weeks before Week 52.¶
At one year:2
20.4% of patients receiving Omvoh achieved corticosteroid-free deep remission compared with 2% receiving placebo.# Among patients with prior biologic failure, 15.7% of those treated with Omvoh achieved corticosteroid-free deep remission compared with none of those receiving placebo.# Among Omvoh-treated patients, 88.1% of those who achieved corticosteroid-free deep remission also achieved IBDQ remission§, compared with 51% of those who did not achieve corticosteroid-free deep remission. The safety findings observed in the Phase 3 LUCENT and VIVID clinical trial programs have been reported previously. The most common adverse reactions associated with Omvoh treatment in LUCENT-1 and -2 (reported in at least 2% of subjects at a higher frequency than placebo) were upper respiratory tract infections, injection site reactions, arthralgia, rash, headache and herpes viral infection. In VIVID-1, the most common adverse reactions associated with Omvoh treatment (reported in at least 5% of subjects at a higher frequency than placebo) were upper respiratory tract infections, injection site reactions, headache, arthralgia and elevated liver tests.8
Omvoh has received regulatory approvals for the treatment of moderately to severely active UC and moderately to severely active Crohn's disease in adults and has been approved in 47 countries. Omvoh is also approved as a single-injection maintenance regimen for adults with UC in several countries around the world, including the U.S., EU, Canada and Japan.
Lilly continues to advance the standard of care in gastroenterology through the next wave of immunology innovation, including combination approaches, novel mechanisms and the potential of incretins. Lilly is pursuing combination studies of mirikizumab aimed at delivering breakthrough induction efficacy while maintaining long-term remission and safety. These include studies in UC with eltrekibart (NCT06598943), a monoclonal antibody that targets neutrophil-driven inflammation, and with zotemtegrast (NCT07186101), an oral α4β7 integrin inhibitor. In Crohn's disease, Lilly is studying mirikizumab in combination with an FXR agonist (NCT07483099). The COMMIT-UC (NCT06937086) and COMMIT-CD (NCT06937099) trials are investigating the concomitant use of mirikizumab and an incretin-based therapy in adults with UC or Crohn's disease and obesity or overweight with at least one additional weight-related comorbid condition. In addition, trials of mirikizumab in pediatric patients are ongoing, including a long-term extension study in UC and Crohn's disease (NCT04844606) and an ongoing Phase 3 study in pediatric Crohn's disease (NCT05509777).
About the LUCENT Clinical Trial Program
Omvoh was studied in two Phase 3 clinical trials which evaluated the efficacy and safety of Omvoh in adults with moderately to severely active UC, in both biologic-naïve patients and those who had previously failed a biologic or Janus kinase inhibitor (JAKi).
The randomized, double-blind, placebo-controlled LUCENT-1 (induction) study included patients with an inadequate response, loss of response, or intolerance to corticosteroids, immunomodulators, biologic therapy, or JAKi, and LUCENT-2 (maintenance) evaluated continued treatment versus placebo in patients who achieved a clinical response to Omvoh in LUCENT-1.
About the VIVID Clinical Trial Program
VIVID-1 was a Phase 3 randomized, double-blind, placebo-controlled 52-week study in adults with moderately to severely active Crohn's disease. Patients randomized to Omvoh received Omvoh 900 mg by intravenous (IV) infusion at Week 0, Week 4 and Week 8, followed by a maintenance dose of 300 mg by subcutaneous injection (SC) at Week 12 and then every four weeks (Q4W) for 40 weeks.
About Omvoh
Omvoh (mirikizumab-mrkz) is an interleukin-23p19 (IL-23p19) antagonist indicated for the treatment of moderately to severely active ulcerative colitis and Crohn's disease in adults. Omvoh selectively targets the p19 subunit of IL-23 and inhibits the IL-23 pathway. Inflammation due to over-activation of the IL-23 pathway plays a critical role in the pathogenesis of inflammatory bowel disease.8
Omvoh and its delivery device base are trademarks owned by Eli Lilly and Company.
Endnotes and References
*Clinical remission (based on the modified Mayo score [mMS]): stool frequency subscore=0 or 1 with a ≥1-point decrease from baseline, and rectal bleeding subscore=0, and endoscopic subscore (ES)=0 or 1 (excluding friability).
†Histologic remission: Geboes subscores of 0 for grades 2b (neutrophils in lamina propria), 3 (neutrophils in epithelium), 4 (crypt destruction) and 5 (erosion or ulceration).
‡In LUCENT-2, patients randomized to placebo had achieved clinical response with Omvoh during LUCENT-1 induction and were then re-randomized to discontinue from Omvoh and receive placebo through the maintenance period. Patients randomized to Omvoh continued treatment, for a total of 52 weeks from induction baseline.
§Inflammatory Bowel Disease Questionnaire (IBDQ) remission: total score ≥170.
∥No to minimal bowel urgency (bowel urgency remission) was defined as an Urgency NRS score of 0 or 1; work productivity assessed using the Work Productivity and Activity Impairment Questionnaire for UC (WPAI).
¶Corticosteroid-free Crohn's Disease Activity Index (CDAI)-based deep remission: CDAI <150, endoscopic remission (SES-CD ≤4 and ≥2-point reduction from baseline with no subscore >1) and no corticosteroid use during the 12 weeks before Week 52.
#Patients receiving placebo in VIVID-1 were randomized to placebo at baseline. Those who did not respond by Week 12 switched to Omvoh and were counted as non-responders in this analysis.
1Schreiber S, et al. Mirikizumab therapy enables comprehensive disease control with improved quality of life in patients with moderately-to-severely active ulcerative colitis: a post-hoc analysis of Phase 3 LUCENT-1 and LUCENT-2 trials. American College of Gastroenterology (ACG) Annual Scientific Meeting; October 11, 2026; Nashville, TN. P-1182.
2Schreiber S, et al. Mirikizumab effect on deep remission with improved quality of life in moderately to severely active Crohn's disease: a post hoc analysis from VIVID-1. United European Gastroenterology Week 2026;. October 18, 2026; Barcelona, Spain. MP0290.
3Schreiber, S, Danese, S, Dignass, A, et al. Defining comprehensive disease control for use as a treatment target for ulcerative colitis in clinical practice: International Delphi consensus recommendations. J Crohns Colitis. 2024;18(1):91–105. https://doi.org/10.1093/ecco-jcc/jjad130
4Fanizzi, F, D'Amico, F, Peyrin-Biroulet, L, Danese, S, & Dignass, A. Treatment targets in IBD: Is it time for new strategies? Best Pract Res Clin Gastroenterol. 2025;77:101990. https://doi.org/10.1016/j.bpg.2025.101990
5Shehab M, et al. Histological disease activity as predictor of clinical relapse, hospitalization, and surgery in inflammatory bowel disease: systematic review and meta-analysis. Inflamm Bowel Dis. 2024;30(4):563-572. doi:10.1093/ibd/izad119
6Andronic AM, Toader E. P398 Disease clearance: a potential target for management of patients with ulcerative colitis. J Crohns Colitis. 2023;17(Suppl 1):i529. doi:10.1093/ecco-jcc/jjac190.0528
7Pai RK, D'Haens G, Kobayashi T, et al. Histologic assessments in ulcerative colitis: the evidence behind a new endpoint in clinical trials. Expert Rev Gastroenterol Hepatol. 2024;18(1-3):73-87. doi:10.1080/17474124.2024.2326838
8Omvoh. Prescribing Information. Lilly USA, LLC.
Indications and Usage for Omvoh® (mirikizumab-mrkz) (in the United States)
Omvoh is an interleukin-23 antagonist indicated for adults with:
Moderately to severely active ulcerative colitis Moderately to severely active Crohn's disease Important Safety Information for Omvoh (mirikizumab-mrkz)
CONTRAINDICATIONS
Omvoh is contraindicated in patients with a history of serious hypersensitivity reaction to mirikizumab-mrkz or any of the excipients.
WARNINGS AND PRECAUTIONS
Hypersensitivity Reactions
Serious hypersensitivity reactions, including anaphylaxis during intravenous infusion, have been reported with Omvoh administration. Infusion-related hypersensitivity reactions, including mucocutaneous erythema and pruritus, were reported during induction. If a severe hypersensitivity reaction occurs, discontinue Omvoh immediately and initiate appropriate treatment.
Infections
Omvoh may increase the risk of infection. Do not initiate treatment with Omvoh in patients with a clinically important active infection until the infection resolves or is adequately treated. In patients with a chronic infection or a history of recurrent infection, consider the risks and benefits prior to prescribing Omvoh. Instruct patients to seek medical advice if signs or symptoms of clinically important acute or chronic infection occur. If a serious infection develops or an infection is not responding to standard therapy, monitor the patient closely and do not administer Omvoh until the infection resolves.
Tuberculosis
Evaluate patients for tuberculosis (TB) infection prior to initiating treatment with Omvoh. Do not administer Omvoh to patients with active TB infection. Initiate treatment of latent TB prior to administering Omvoh. Consider anti-TB therapy prior to initiation of Omvoh in patients with a history of latent or active TB in whom an adequate course of treatment cannot be confirmed. Monitor patients for signs and symptoms of active TB during and after Omvoh treatment. In clinical trials, subjects were excluded if they had evidence of active TB, a history of active TB, or were diagnosed with latent TB at screening.
Hepatotoxicity
Drug-induced liver injury in conjunction with pruritus was reported in a clinical trial subject following a longer than recommended induction regimen. Omvoh was discontinued. Liver test abnormalities eventually returned to baseline. Evaluate liver enzymes and bilirubin at baseline and for at least 24 weeks of treatment. Monitor thereafter according to routine patient management. Consider other treatment options in patients with evidence of liver cirrhosis. Prompt investigation of the cause of liver enzyme elevation is recommended to identify potential cases of drug-induced liver injury. Interrupt treatment if drug-induced liver injury is suspected, until this diagnosis is excluded. Instruct patients to seek immediate medical attention if they experience symptoms suggestive of hepatic dysfunction.
Immunizations
Avoid use of live vaccines in patients treated with Omvoh. Medications that interact with the immune system may increase the risk of infection following administration of live vaccines. Prior to initiating therapy, complete all age-appropriate vaccinations according to current immunization guidelines. No data are available on the response to live or non-live vaccines in patients treated with Omvoh.
ADVERSE REACTIONS
Most common adverse reactions associated with Omvoh (≥2% of subjects and at a higher frequency than placebo) in ulcerative colitis treatment are upper respiratory tract infections and arthralgia during the induction study (UC-1), and upper respiratory tract infections, injection site reactions, arthralgia, rash, headache, and herpes viral infection during the maintenance study (UC-2). Most common adverse reactions associated with Omvoh in the Crohn's disease study (CD-1) (≥5% of subjects and at a higher frequency than placebo) are upper respiratory tract infections, injection site reactions, headache, arthralgia, and elevated liver tests.
Omvoh injection is available as a 300 mg/15 mL solution in a single-dose vial for intravenous infusion, and as a 100 mg/mL solution or a 200 mg/2 mL solution in a single dose prefilled pen or prefilled syringe for subcutaneous injection. Refer to the Prescribing Information for dosing information.
MR HCP ISI CD APP
Click to access provided Prescribing Information and Medication Guide. See Instructions for Use provided with the device.
About Lilly
Lilly is a medicine company turning science into healing to make life better for people around the world. We've been pioneering life-changing discoveries for 150 years, and today our medicines help tens of millions of people across the globe. Harnessing the power of biotechnology, chemistry and genetic medicine, our scientists are urgently advancing new discoveries to solve some of the world's most significant health challenges: redefining diabetes care; treating obesity and curtailing its most devastating long-term effects; advancing the fight against Alzheimer's disease; providing solutions to some of the most debilitating immune system disorders; and transforming the most difficult-to-treat cancers into manageable diseases. With each step toward a healthier world, we're motivated by one thing: making life better for millions more people. That includes delivering innovative clinical trials that reflect the diversity of our world and working to ensure our medicines are accessible and affordable. To learn more, visit Lilly.com and Lilly.com/news, or follow us on Facebook, Instagram, and LinkedIn. P-LLY
Trademarks and Trade Names
All trademarks or trade names referred to in this press release are the property of the company, or, to the extent trademarks or trade names belonging to other companies are referenced in this press release, the property of their respective owners. Solely for convenience, the trademarks and trade names in this press release are referred to without the ® and ™ symbols, but such references should not be construed as any indicator that the company or, to the extent applicable, their respective owners will not assert, to the fullest extent under applicable law, the company's or their rights thereto. We do not intend the use or display of other companies' trademarks and trade names to imply a relationship with, or endorsement or sponsorship of us by, any other companies.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements (as that term is defined in the Private Securities Litigation Reform Act of 1995) about Omvoh (mirikizumab-mrkz) as a treatment for people with moderately to severely active ulcerative colitis and moderately to severely active Crohn's disease and reflects Lilly's current beliefs and expectations. However, as with any pharmaceutical product, there are substantial risks and uncertainties in the process of drug research, development and commercialization. Among other things, there is no guarantee that future study results will be consistent with the results to date, or that Lilly will execute its strategies as planned. For further discussion of these and other risks and uncertainties that could cause actual results to differ from Lilly's expectations, see Lilly's Form 10-K and Form 10-Q filings with the United States Securities and Exchange Commission. Except as required by law, Lilly undertakes no duty to update forward-looking statements to reflect events after the date of this release.
Společnost Raytheon, součást RTX, získala od amerických vesmírných sil zakázku na digitalizaci radarů včasného varování v rámci programu GBRD, což má zvýšit jejich výkon, spolehlivost a schopnosti sledování vesmíru.
New digital systems will improve detection and long-term performance
, /PRNewswire/ -- Raytheon, an RTX (NYSE: RTX) business, has been selected to modernize U.S. Space Force radar sites that serve as the outermost layer of the nation's missile‑defense architecture. These strategic sensors provide early warning of launches, characterization of objects and activity tracking in space.
Through the Ground-Based Radar Digitization (GBRD) program, Raytheon will work with the Space Force to modernize long‑serving systems, strengthening domain awareness and supporting a more resilient, layered security architecture. The program will modernize and upgrade existing systems to enhance overall performance, improve reliability, and support more advanced operational capabilities.These updates will help ensure the radars continue to provide critical ground-based early warning and space monitoring capabilities for decades to come.
"Digitizing these radar systems is essential to staying ahead of increasingly complex global threats," said Sam Deneke, president of Air & Space Defense Systems at Raytheon. "Raytheon's technical approach enables faster deployment of new capabilities that will support the Space Force's effort to extend the performance and mission utility of these strategically important sites."
Raytheon's proven, high-maturity solution uses a rapid development approach that creates a foundational technical baseline for the GBRD portfolio to accelerate delivery of new capabilities. Working alongside the Space Force and industry, Raytheon will help create a common open architecture that improves sustainment efficiency, avoids vendor lock and simplifies future upgrades to system performance. The program will deliver prototype solutions before transitioning to rapid fielding for the remaining locations.
Raytheon is actively hiring to support critical military programs. Opportunities are available for emerging talent, experienced professionals, and veterans. Discover open roles on our website and apply today.
About Raytheon
Raytheon, an RTX business, is a leading provider of defense solutions to help the U.S. government, our allies and partners defend their national sovereignty and ensure their security. For more than 100 years, Raytheon has developed new technologies and enhanced existing capabilities in integrated air and missile defense, smart weapons, missiles, advanced sensors and radars, interceptors, space-based systems, hypersonics and missile defense across land, air, sea and space.
About RTX
With more than 180,000 global employees, we push the limits of technology and science to redefine how we connect and protect our world. With industry-leading capabilities, we advance aviation, engineer integrated defense systems for operational success, and develop next-generation technology solutions and manufacturing to help global customers address their most critical challenges. The company, with 2025 sales of more than $88 billion, is headquartered in Arlington, Virginia.
For questions or to schedule an interview, please contact [email protected].
Cronos dokončil akvizici společnosti CanAdelaar za základní kupní cenu 57,5 milionu EUR, která podléhá úpravám při uzavření a po něm, a získal vedoucí pozici na nizozemském trhu s konopím pro dospělé.
Cronos acquires CanAdelaar for a base purchase price of €57.5 million plus cash earnout of 0.5x Normalized EBITDA1 in 2026 and 2027
Establishes Cronos’ European platform with #1 market share2 in the largest adult-use cannabis market in Europe3
Enables borderless product strategy, leveraging investments in genetics, R&D, and product development
TORONTO, Oct. 15, 2026 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) (“Cronos” or the “Company”), an innovative global cannabis company, today announced that it has completed its previously announced acquisition of CanAdelaar B.V. (“CanAdelaar”), the largest cannabis company operating within the Netherlands’ adult-use cannabis pilot program, the Wietexperiment.
Under the terms of the definitive share sale and purchase agreement (the “Purchase Agreement”) announced on December 9, 2025, as amended, Cronos acquired all the outstanding shares of CanAdelaar for a base purchase price of €57.5 million, subject to closing and post-closing adjustments. In addition, contingent consideration is payable in cash in amounts equal to 0.5x CanAdelaar’s Normalized EBITDA in each of 2026 and 2027. The base purchase price represents approximately 1.4x CanAdelaar net revenue and 2.9x CanAdelaar Adjusted EBITDA based on 1H 2026 annualized results.4
“This is a milestone for Cronos,” said Mike Gorenstein, Chairman, President and CEO of Cronos. “With the completion of this transaction, we have established a meaningful and scalable platform in Europe’s largest adult-use cannabis market. CanAdelaar is the clear market leader in the Wietexperiment, with a proven operational track record, strong management team, and leading market share. We are excited to welcome the CanAdelaar team to Cronos and accelerate execution of our borderless product strategy in the Netherlands. With our preparations well underway, we look forward to bringing our innovative, borderless products to Dutch adult-use consumers.”
_______________
1 As defined in the Purchase Agreement.
2 Market share measurement based on volume sold and revenue. Market share information provided by CanAdelaar management, based on their surveying of Wietexperiment coffee shops in Q2 2026.
3 Sources: Cronos and CanAdelaar estimates, Prohibition Partners, Statista, Hanf Journal, which compare the market size of the Wietexperiment to the market sizes of the adult-use cannabis markets in (i) Malta, (ii) Switzerland (within pilot programs across certain cities), and (iii) Germany (within non-profit communal cultivation associations).
4 Based on CanAdelaar net revenue and CanAdelaar Adjusted EBITDA for the six months ended June 30, 2026, with Adjusted EBITDA reflecting an add-back of €0.2M of legal expenses in the period. Annualized figures were calculated by multiplying CanAdelaar’s results for the six months ended June 30, 2026 by two. They are not actual full-year results or forecasts. The underlying unaudited financial information was provided by CanAdelaar management and prepared under Dutch generally accepted accounting principles (“Dutch GAAP”). CanAdelaar Adjusted EBITDA is a non-GAAP financial measure.
“Joining Cronos is a natural next step for CanAdelaar,” said Christopher Martens, former CEO of CanAdelaar and newly appointed General Manager, Cronos Netherlands. “Our team has built a leading operation in the Wietexperiment, and with Cronos’ product innovation and global resources, we are well positioned to serve Dutch adult-use consumers and support the continued success of the program. We believe the experiment provides an important opportunity to build a strong evidence base around the regulated production and supply of cannabis and to help inform the future development of Dutch cannabis policy.”
The Wietexperiment is a government-led adult-use cannabis pilot program designed to establish a closed, regulated cannabis supply chain across ten participating municipalities. Under the Wietexperiment, all 69 coffee shops (cannabis retailers) in the ten participating municipalities5 may no longer operate within the legacy ‘tolerated’ market and are required to source their cannabis products exclusively from the ten licensed producers. The framework prohibits the import and export of cannabis products and sales between licensed producers; cannabis produced under the program may only be supplied to coffee shops in the ten participating municipalities.
CanAdelaar is headquartered in Voorne aan Zee, Netherlands, and operates a 540,000-square-foot greenhouse facility encompassing cultivation, processing, production and packaging. The company supplies nearly all 69 coffee shops participating in the Wietexperiment with a portfolio of cannabis products sold under its CanAdelaar Original Grow (“C.O.G.”) brand.
The completion of the acquisition positions Cronos as the leader in the Wietexperiment, Europe’s largest adult-use cannabis market, establishes a European operating platform for Cronos’ borderless product strategy, and provides Cronos a role in a thoughtfully designed regulatory framework for adult-use cannabis.
CanAdelaar’s existing management team will continue to lead the business following the acquisition, operating within Cronos’ global framework. Cronos expects a smooth integration and will continue to focus on regulatory compliance, operational excellence, and responsible adult-use cannabis consumption.
_______________
5 CanAdelaar estimated coffee shop count within the Wietexperiment as of October 2026.
Transaction Overview
Under the terms of the Purchase Agreement, the base purchase price is €57.5 million, subject to closing and post-closing adjustments. In addition, contingent consideration is payable in cash in amounts equal to 0.5x CanAdelaar’s Normalized EBITDA, as defined in the Purchase Agreement, for each of 2026 and 2027.
Immediately prior to closing, Cronos’ wholly owned subsidiary, CGM B.V., waived all its contractual closing conditions pursuant to an addendum to the Purchase Agreement. Ring International Holding AG, one of the sellers, provided additional indemnities in respect of certain regulatory and environmental matters, subject to contractual limitations. Further details regarding the addendum are provided in the Company’s Current Report on Form 8-K regarding the acquisition.
CanAdelaar Highlights
The only large-scale greenhouse cultivator in the Wietexperiment, with the other licensed producers operating indoor grow facilities.Current cultivation yield of approximately 20,000 kg of dried flower annually.6Leading Wietexperiment market share.7Sales commenced in the fourth quarter of 2023, with net revenue growing to €15.2 million in 2024, €40.6 million in the twelve months ended September 30, 2025, and €41.6 million annualized for the six months ended June 30, 2026.8CanAdelaar Adjusted EBITDA of €6.9 million in 2024, €24.2 million in the twelve months ended September 30, 2025, and €20.1 million annualized for the six months ended June 30, 2026.9 The decline from the twelve months ended September 30, 2025 to the annualized result for the six months ended June 30, 2026 primarily reflects increased competition now that the Wietexperiment is fully operational and all licensed producers are participating. Strategic Rationale
The acquisition is expected to provide strategic and financial benefits that will further Cronos’ position as a leading global cannabis company, including:
Enabling Borderless Product Strategy: a platform to bring Cronos’ investments in genetic breeding, product development and brand portfolio to Dutch adult-use consumers. With over 60% of CanAdelaar’s revenue generated by cannabis flower,10 Cronos sees room to expand the genetic offering and bring innovation into derivative product categories permitted under the Wietexperiment.Competitive Positioning and Aligned Operations: CanAdelaar has the highest market share11 within the Wietexperiment and is the only large-scale greenhouse cultivator of the ten licensed producers, providing an advantaged cost position and a differentiated value proposition.Compelling Financial Profile: the base purchase price of €57.5 million12 represents approximately 1.4x net revenue and 2.9x CanAdelaar Adjusted EBITDA based on 1H 2026 annualized results.13Upside Through Potential Expansion of the Dutch Adult-Use Cannabis Program: the Wietexperiment permits the regulated sale of cannabis for adult-use in ten Dutch municipalities (which do not include Amsterdam), covering 69 of a total of 562 coffee shops in the Netherlands and approximately 1.7 million residents of a total Dutch population of 18.1 million,14 which could significantly expand the addressable market if the Wietexperiment is extended to more municipalities or nationwide. Cronos is encouraged by the interim report on the Wietexperiment commissioned by the Dutch government and published in September 2026, which reported that initial experiences are predominantly positive.15Thoughtful Regulatory Setup to Promote Responsible Adult Use: the Wietexperiment is well-designed and regulated to ensure product testing, quality control and transparency, as well as to allow cannabis sales to adult consumers only, serving as a potential model for other EU countries. Cronos is committed to the continuity of the Wietexperiment and cooperation with regulators, municipalities, and all industry stakeholders to ensure its long-term success. Additional information regarding the transaction is available on Cronos’ website under “Investor Relations” and in the Company’s filings on EDGAR and SEDAR+.
_______________
6 CanAdelaar management estimates.
7 Market share measurement based on volume sold and revenue. Market share information provided by CanAdelaar management, based on their surveying of Wietexperiment coffee shops in Q2 2026.
8 Annualized figures were calculated by multiplying CanAdelaar’s results for the six months ended June 30, 2026 by two. They are not actual full-year results or forecasts. CanAdelaar net revenue is provided by CanAdelaar management, unaudited and prepared under Dutch GAAP.
9 CanAdelaar Adjusted EBITDA is a non-GAAP financial measure derived from unaudited financial information provided by CanAdelaar management and prepared under Dutch GAAP. Annualized figures were calculated by multiplying CanAdelaar’s results for the six months ended June 30, 2026 by two, with CanAdelaar Adjusted EBITDA reflecting an add-back of €0.2M of legal expenses for the six-month period.
10 CanAdelaar management estimate, unaudited, for twelve months ended June 30, 2026.
11 Market share measurement based on volume sold and revenue. Market share information provided by CanAdelaar management, based on their surveying of Wietexperiment coffee shops in Q2 2026.
12 Base purchase price refers to the €57.5 million base amount before closing and post-closing adjustments including adjustments for CanAdelaar’s net debt position.
13 Based on CanAdelaar net revenue and CanAdelaar Adjusted EBITDA for the six months ended June 30, 2026, with CanAdelaar Adjusted EBITDA reflecting an add-back of €0.2M of legal expenses in the period. Annualized figures were calculated by multiplying CanAdelaar’s results for the six months ended June 30, 2026 by two. They are not actual full-year results or forecasts. The underlying unaudited financial information was provided by CanAdelaar management and prepared under Dutch generally accepted accounting principles (“Dutch GAAP”). CanAdelaar Adjusted EBITDA is a non-GAAP financial measure.
14 Coffee shop count sources: count within the Wietexperiment is CanAdelaar estimate as of October 2026, nationwide count source is Scientific Research and Data Center (WODC) of the Netherlands’ Ministry of Justice and Security, as of March 31, 2025; population source: Centraal Bureau voor de Statistiek.
15 Source: Scientific Research and Data Center (WODC) of the Netherlands’ Ministry of Justice and Security, September 9, 2026; https://www.wodc.nl/actueel/nieuws/2026/09/09/mogelijke-effecten-wietexperiment-nog-niet-vast-te-stellen; translated from Dutch.
About Cronos
Cronos is a global cannabis company focused on scaling leading consumer goods products through R&D and innovation. With a passion to responsibly elevate the consumer experience, Cronos is building an iconic brand portfolio. Cronos’ diverse international brand portfolio includes Spinach®, PEACE NATURALS®, LIT™, Lord Jones® and C.O.G. For more information about Cronos and its brands, please visit: thecronosgroup.com.
Forward-Looking Statements
This press release may contain information that may constitute “forward-looking information” or “forward-looking statements” within the meaning of applicable Canadian and U.S. securities laws and court decisions (collectively, “Forward-looking Statements”). All information contained herein that is not clearly historical in nature may constitute Forward-looking Statements. In some cases, Forward-looking Statements can be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “plan”, “anticipate”, “intend”, “potential”, “estimate”, “believe” or the negative of these terms, or other similar expressions intended to identify Forward-looking Statements. Some of the Forward-looking Statements contained in this press release include statements regarding the integration of CanAdelaar and the anticipated strategic and financial benefits of the acquisition; Cronos’ borderless product strategy in the Netherlands; CanAdelaar’s future operations and management; the potential continuation or expansion of the Wietexperiment, its addressable market and its potential as a model for other countries; and the outcomes and financial effects of outstanding regulatory and environmental matters and related contractual adjustments and indemnities. Forward-looking Statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive risks. Forward-looking Statements are not guarantees of future performance, and actual results, performance or achievements may differ materially from those expressed or implied by them. A discussion of some of the material risks applicable to the Company can be found in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 and the Company’s Quarterly Reports on Form 10-Q for the quarters ended March 31, 2026 and June 30, 2026, each of which has been filed on SEDAR+ and EDGAR and can be accessed at www.sedarplus.ca and www.sec.gov/edgar, respectively. Any Forward-looking Statement included in this press release is made as of the date of this press release and, except as required by law, Cronos disclaims any obligation to update or revise any Forward-looking Statement. Readers are cautioned not to put undue reliance on any Forward-looking Statement.
For further information, please contact:
Harrison Aaron
Investor Relations
Tel: (416) 504-0004 [email protected]
Healthy customer demand supports continued momentum
, /PRNewswire/ -- Prologis, Inc. (NYSE: PLD) today announced results for the quarter ended September 30, 2026.
Net earnings per diluted share was $0.86, compared with $0.82 for the same period in 2025. Core funds from operations (Core FFO)* per diluted share was $1.60, compared with $1.49 for the same period in 2025. Core FFO, excluding Net Promote Income (Expense)* per diluted share was $1.61, compared with $1.50 for the same period in 2025. "We executed well on our plan this quarter, signing 60 million square feet of leases and announcing nearly $2.3 billion of transactions," said Daniel S. Letter, chief executive officer of Prologis. "Customers are running lean on inventory, and excess capacity within their networks has largely cleared. We see healthy demand supported by e-commerce, advanced manufacturing and the build-out of the data center supply chain."
Letter added: "On SEGRO, shareholder approval was an important milestone in bringing our two companies together. We look forward to completing the transaction and expanding our platform in Europe, increasing the scale at which we can serve customers."
"Our financial results reflect another quarter of strong operating performance and disciplined capital allocation," said Timothy D. Arndt, chief financial officer of Prologis. "That performance, together with the strength of our balance sheet, gives us the capacity and flexibility to continue investing in growth even in a higher interest rate environment."
OPERATING PERFORMANCE
Owned & Managed
3Q26
Average Occupancy
95.1 %
Period End Occupancy
95.6 %
Leases Commenced (Operating and Development Portfolio)
55.9 MSF
Retention
75.9 %
Prologis Share
3Q26
Average Occupancy
95.1 %
Cash Same Store NOI* Growth
5.9 %
Net Effective Rent Change
38.0 %
Cash Rent Change
23.4 %
DEPLOYMENT ACTIVITY
Prologis Share
3Q26
Acquisitions
$702M
Weighted avg stabilized cap rate (excluding other real estate)
4.2 %
Development Stabilizations
$401M
Estimated weighted avg yield
5.6 %
Estimated weighted avg margin
9.7 %
Estimated value creation
$39M
% Build-to-suit
17.5 %
Development Starts
$964M
Estimated weighted avg yield
6.6 %
Estimated weighted avg margin
16.1 %
Estimated value creation
$155M
% Build-to-suit
18.3 %
Total Dispositions and Contributions
$169M
Weighted avg stabilized cap rate (excluding land, properties under
development, and other real estate)
5.1 %
BALANCE SHEET STRENGTH & LIQUIDITY
During the quarter, the company:
Closed, together with its co-investment ventures, an aggregate of $1.3 billion of debt at a weighted average interest rate of 4.0% and a weighted average term of 4.5 years. As of quarter-end:
Total available liquidity was approximately $8.8 billion. Debt-to-Adjusted EBITDA* was 4.5x and debt as a percentage of total market capitalization was 23.9%. The weighted average interest rate on the company's share of total debt was 3.3%, with a weighted average term of 7.6 years. Forecasted earnings for 2026, 2027 and 2028 are 99%, 98% and 97%, respectively, in USD or hedged through derivative contracts and 96% of Prologis' equity was in USD. 2026 GUIDANCE
Prologis' guidance for net earnings is included in the table below as well as guidance for Core FFO*, which are reconciled in our supplemental information.
2026 GUIDANCE
Earnings (per diluted share)**
Previous
Current
Net earnings attributable to common
stockholders
$4.40 to $4.55
$4.05 to $4.15
Core FFO attributable to common
stockholders/unitholders*
$6.22 to $6.30
$6.25 to $6.29
Core FFO attributable to common
stockholders/unitholders, excluding Net
Promote Income (Expense)*
$6.22 to $6.30
$6.25 to $6.29
** Note: Please refer to section titled "U.K. Takeover Code Required Disclosure in Connection With Offer
for SEGRO plc" below.
Operations - Prologis Share
Previous
Current
Average occupancy
95.25% to 95.75%
95.25% to 95.50%
Cash Same Store NOI*
6.75% to 7.25%
7.00% to 7.50%
Net Effective Same Store NOI*
5.25% to 5.75%
5.50% to 6.00%
Strategic Capital (in millions)
Previous
Current
Strategic Capital revenue, excluding promote
revenue
$660 to $680
$650 to $660
Net Promote Income (Expense)1
$0
$0
G&A (in millions)
Previous
Current
General & administrative expenses
$510 to $525
$515 to $525
Capital Deployment - Prologis Share (in millions)2
Previous
Current
Development stabilizations
$2,250 to $2,750
$2,500 to $3,000
Development starts
$4,500 to $5,500
$5,000 to $5,750
Acquisitions
$1,500 to $2,000
$2,100 to $2,300
Contributions
$2,000 to $2,500
$1,750 to $2,250
Dispositions
$2,250 to $2,750
$1,750 to $2,500
Realized development gains
$600 to $700
$600 to $700
1.
Net promote expense relates to amortization of stock compensation issued to employees related to promote income recognized in prior periods.
2.
Inclusive of data centers.
*
This is a non-GAAP financial measure. See the Notes and Definitions in our supplemental information for further explanation and a reconciliation to the most directly comparable GAAP measure.
The earnings guidance described above includes potential gains recognized from real estate transactions but excludes any future or potential foreign currency or derivative gains or losses as our guidance assumes constant foreign currency rates. In reconciling from net earnings to Core FFO*, Prologis makes certain adjustments, including but not limited to our share of real estate depreciation and amortization expense, gains (losses) recognized from real estate transactions and early extinguishment of debt, impairment charges, deferred taxes and unrealized gains or losses on foreign currency or derivative activity. The difference between the company's Core FFO* and net earnings guidance relates predominantly to these items. Please refer to our quarterly Supplemental Information, which is available on our Investor Relations website at https://ir.prologis.com and on the SEC's website at www.sec.gov for a definition of Core FFO* and other non-GAAP measures used by Prologis, along with reconciliations of these items to the closest GAAP measure for our results and guidance.
U.K. TAKEOVER CODE REQUIRED DISCLOSURE IN CONNECTION WITH OFFER FOR SEGRO PLC
Prologis' Earnings (per diluted share) guidance set forth above (the "Profit Forecast") constitutes a profit forecast for the purposes of Rule 28 of the U.K. City Code on Takeovers and Mergers (the "Code"). The U.K. Takeover Panel has granted Prologis a dispensation from the Code requirement to include a report from a reporting accountant and Prologis' financial advisers in respect of the Profit Forecast. SEGRO plc has agreed to Prologis receiving this dispensation, on the basis that: (i) the Profit Forecast is presented on a basis consistent with Prologis' ordinary course quarterly guidance; and (ii) the Prologis board of directors is providing the confirmations in respect of the Profit Forecast stated below. The U.K. Takeover Panel has granted its dispensation on the same basis.
Prologis' board of directors has considered the Profit Forecast and confirms that the Profit Forecast is valid and has been properly compiled on the basis of the assumptions, and subject to the factors, set forth in the "Forward-Looking Statements" disclaimer below and that the basis of accounting used in preparing the Profit Forecast is consistent with the accounting policies of Prologis.
The Profit Forecast and certain other statements set forth in this announcement constitute "forward-looking statements" as described in the "Forward-Looking Statements" disclaimer below, and investors should consider the Profit Forecast and such other statements in the context of being so disclaimed.
OCTOBER 15, 2026, CALL DETAILS
The call will take place on Thursday, October 15, 2026, at 9:00 a.m. PT/12:00 p.m. ET. To access a live broadcast of the call, please dial +1 (877) 897-2615 (toll-free from the United States and Canada) or +1 (201) 689-8514 (from all other countries). A live webcast can be accessed from the Investor Relations section of www.prologis.com.
A telephonic replay will be available October 15 - October 29 at +1 (877) 660-6853 (from the United States and Canada) or +1 (201) 612-7415 (from all other countries) using access code 13757425. The webcast replay will be posted in the Investor Relations section of www.prologis.com under "Events & Presentations."
ABOUT PROLOGIS
The world runs on logistics. At Prologis, we don't just lead the industry, we define it. We create the intelligent infrastructure that powers global commerce, seamlessly connecting the digital and physical worlds. From agile supply chains to clean energy solutions, our ecosystems help your business move faster, operate smarter and grow sustainably. With unmatched scale, innovation and expertise, Prologis is a category of one–not just shaping the future of logistics but building what comes next. Learn more at Prologis.com.
FORWARD-LOOKING STATEMENTS
The statements in this document that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which we operate as well as management's beliefs and assumptions. Such statements involve uncertainties that could significantly impact our financial results. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," and "estimates" including variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future—including statements relating to the combination with SEGRO plc ("SEGRO"), rent and occupancy growth, acquisition and development activity, including data center developments and power procurement related thereto, contribution and disposition activity, general conditions in the geographic areas where we operate, expectations regarding new lines of business, our debt, capital structure and financial position, our ability to earn revenues from co-investment ventures, form new co-investment ventures and the availability of capital in existing or new co-investment ventures—are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and, therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) international, national, regional and local economic and political climates and conditions; (ii) changes in global financial markets, interest rates and foreign currency exchange rates; (iii) increased or unanticipated competition for our properties; (iv) risks associated with acquisitions, dispositions and development of properties, including those specific to data center development and the integration of the operations of significant real estate portfolios; (v) maintenance of Real Estate Investment Trust status, tax structuring and changes in income tax laws and rates; (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings; (vii) risks related to our investments in our co-investment ventures, including our ability to establish new co-investment ventures; (viii) risks of doing business internationally, including currency risks; (ix) environmental uncertainties, including risks of natural disasters; (x) Prologis' and SEGRO's ability to complete the combination on the proposed terms or on the anticipated timeline, or at all, including risks and uncertainties relating to satisfying the conditions to the combination and relating to failure to realize the expected benefits or synergies of the combination; and (xi) those additional factors discussed in reports filed with the Securities and Exchange Commission by us under the heading "Risk Factors." We undertake no duty to update any forward-looking statements appearing in this document except as may be required by law.
dollars in millions, except per share/unit data
Three Months Ended September 30,
Nine Months Ended September 30,
2026
2025
2026
2025
Rental and other revenues
$ 2,224
$ 2,064
$ 6,544
$ 6,098
Strategic capital revenues
164
150
567
439
Total revenues
2,388
2,214
7,111
6,537
Net earnings attributable to common stockholders
816
763
2,857
1,924
Core FFO attributable to common stockholders/unitholders*
1,545
1,426
4,544
4,178
AFFO attributable to common stockholders/unitholders*
1,207
1,064
4,002
3,184
Adjusted EBITDA attributable to common stockholders/unitholders*
2,081
1,868
6,401
5,428
Estimated value creation from development stabilizations - Prologis Share
39
169
516
473
Common stock dividends and common limited partnership unit distributions
1,045
967
3,097
2,898
Per common share - diluted:
Net earnings attributable to common stockholders
$ 0.86
$ 0.82
$ 3.04
$ 2.06
Core FFO attributable to common stockholders/unitholders*
1.60
1.49
4.73
4.37
Core FFO attributable to common stockholders/unitholders, excluding Net Promote Income (Expense)*
1.61
1.50
4.72
4.41
Business line reporting:
Real estate*
1.54
1.43
4.53
4.19
Strategic capital*
0.06
0.06
0.20
0.18
Core FFO attributable to common stockholders/unitholders*
1.60
1.49
4.73
4.37
Realized development gains, net of taxes*
0.08
0.01
0.47
0.05
Dividends and distributions per common share/unit
1.07
1.01
3.21
3.03
*This is a non-GAAP financial measure. Please see our Notes and Definitions for further explanation.
in thousands
September 30, 2026
June 30, 2026
December 31, 2025
Assets:
Investments in real estate properties:
Operating properties
$ 83,327,950
$ 82,117,896
$ 80,561,020
Development portfolio
3,168,563
2,741,535
3,019,009
Land
4,794,539
4,802,617
4,888,153
Other real estate investments
7,468,798
7,351,737
6,661,174
98,759,850
97,013,785
95,129,356
Less accumulated depreciation
16,359,720
15,783,188
14,729,149
Net investments in real estate properties
82,400,130
81,230,597
80,400,207
Investments in and advances to unconsolidated entities
11,505,548
11,467,403
11,093,936
Assets held for sale or contribution
545,788
498,975
203,344
Net investments in real estate
94,451,466
93,196,975
91,697,487
Cash and cash equivalents
2,273,497
1,765,043
1,145,647
Other assets
7,169,743
6,049,854
5,881,122
Total assets
$ 103,894,706
$ 101,011,872
$ 98,724,256
Liabilities and Equity:
Liabilities:
Debt
$ 36,832,482
$ 36,442,085
$ 35,037,073
Accounts payable, accrued expenses and other liabilities
Operating income before gains on real estate transactions, net
$ 936,747
$ 892,591
$ 2,723,470
$ 2,561,945
Gains on dispositions of development properties and land, net
51,538
15,435
423,717
53,363
Gains on other dispositions of investments in real estate, net
56,435
32,235
359,924
116,078
Operating income
$ 1,044,720
$ 940,261
$ 3,507,111
$ 2,731,386
Other income (expense):
Earnings from unconsolidated entities, net
155,417
92,827
396,183
268,418
Interest expense
(286,955)
(258,274)
(817,552)
(741,891)
Foreign currency, derivative and other gains (losses) and other income (expense), net
64,535
100,981
218,809
(53,506)
Gains (losses) on early extinguishment of debt, net
144
—
(1,777)
—
Total other income (expense)
(66,859)
(64,466)
(204,337)
(526,979)
Earnings before income taxes
977,861
875,795
3,302,774
2,204,407
Current income tax benefit (expense)
(59,164)
(59,847)
(196,264)
(124,271)
Deferred income tax benefit (expense)
(38,795)
5,312
(57,839)
2,948
Consolidated net earnings
879,902
821,260
3,048,671
2,083,084
Net earnings attributable to noncontrolling interests
(46,191)
(38,329)
(125,231)
(107,044)
Net earnings attributable to noncontrolling interests - limited partnership units
(16,608)
(18,665)
(62,170)
(47,592)
Net earnings attributable to controlling interests
817,103
764,266
2,861,270
1,928,448
Preferred stock dividends
(1,369)
(1,369)
(4,216)
(4,326)
Net earnings attributable to common stockholders
$ 815,734
$ 762,897
$ 2,857,054
$ 1,924,122
Weighted average common shares outstanding - Diluted
968,511
956,603
961,350
955,824
Net earnings per share attributable to common stockholders - Diluted
$ 0.86
$ 0.82
$ 3.04
$ 2.06
Three Months Ended
Nine Months Ended
September 30,
September 30,
in thousands
2026
2025
2026
2025
Net earnings attributable to common stockholders
$ 815,734
$ 762,897
$ 2,857,054
$ 1,924,122
Add (deduct) NAREIT defined adjustments:
Real estate related depreciation and amortization
683,465
626,093
2,052,673
1,896,978
Gains on other dispositions of investments in real estate, net of taxes (excluding development properties and land)
(56,435)
(32,277)
(358,450)
(115,048)
Adjustments related to noncontrolling interests
(11,268)
(13,142)
(35,361)
(48,888)
Our proportionate share of adjustments related to unconsolidated entities
142,760
138,279
426,100
422,637
NAREIT defined FFO attributable to common stockholders/unitholders*
$ 1,574,256
$ 1,481,850
$ 4,942,016
$ 4,079,801
Add (deduct) our modified adjustments:
Unrealized foreign currency, derivative and other losses (gains), net
12,728
(37,767)
(6,911)
154,948
Deferred income tax expense (benefit)
38,795
(5,312)
57,839
(2,948)
Adjustments related to noncontrolling interests
6
—
503
—
Our proportionate share of adjustments related to unconsolidated entities
437
(1,183)
(5,725)
(2,948)
FFO, as modified by Prologis attributable to common stockholders/unitholders*
$ 1,626,222
$ 1,437,588
$ 4,987,722
$ 4,228,853
Add (deduct) Core FFO defined adjustments:
Gains on dispositions of development properties and land, net
(51,538)
(15,435)
(423,717)
(53,363)
Current income tax expense (benefit) on dispositions
7,413
2,799
15,473
3,602
Losses (gains) on early extinguishment of debt, net
(144)
—
1,777
—
Venture formation costs
—
—
6,049
—
Adjustments related to noncontrolling interests
—
675
271
3,496
Our proportionate share of adjustments related to unconsolidated entities
(37,380)
3
(43,382)
(4,945)
Core FFO attributable to common stockholders/unitholders*
$ 1,544,573
$ 1,425,630
$ 4,544,193
$ 4,177,643
Add (deduct) AFFO defined adjustments:
Gains on dispositions of development properties and land, net
51,538
15,435
423,717
53,363
Current income tax benefit (expense) on dispositions
(7,413)
(2,799)
(15,473)
(3,602)
Straight-line rents and amortization of lease intangibles
(174,807)
(162,529)
(501,708)
(530,691)
Property improvements
(98,490)
(109,397)
(195,773)
(212,536)
Turnover costs
(177,483)
(138,212)
(435,258)
(413,577)
Amortization of debt discount, financing costs and management contracts, net
22,126
21,989
65,512
65,310
Stock compensation amortization expense
49,964
44,509
165,744
141,654
Adjustments related to noncontrolling interests
19,656
25,052
59,285
57,628
Our proportionate share of adjustments related to unconsolidated entities
(22,832)
(55,987)
(108,547)
(151,669)
AFFO attributable to common stockholders/unitholders*
$ 1,206,832
$ 1,063,691
$ 4,001,692
$ 3,183,523
*This is a non-GAAP financial measure. Please see our Notes and Definitions for further explanation.
Three Months Ended
Nine Months Ended
September 30,
September 30,
in thousands
2026
2025
2026
2025
Net earnings attributable to common stockholders
$ 815,734
$ 762,897
$ 2,857,054
$ 1,924,122
Gains on other dispositions of investments in real estate, net (excluding development properties and land)
(56,435)
(32,235)
(359,924)
(116,078)
Depreciation and amortization expense
710,300
647,999
2,131,324
1,957,278
Interest charges
254,043
242,992
747,749
694,500
Current and deferred income tax expense, net
97,959
54,535
254,103
121,323
Net earnings attributable to noncontrolling interests - limited partnership units
16,608
18,665
62,170
47,592
NOI adjustments for real estate transactions
(1,740)
1,353
12,450
11,663
Preferred stock dividends
1,369
1,369
4,216
4,326
Unrealized foreign currency, derivative and other losses (gains), net
12,728
(37,767)
(6,911)
154,948
Stock compensation amortization expense
49,964
44,509
165,744
141,654
Losses (gains) on early extinguishment of debt, net
(144)
—
1,777
—
Venture formation costs
—
—
6,049
—
Adjustments related to noncontrolling interests
(28,970)
(32,315)
(99,398)
(97,984)
Our proportionate share of adjustments related to unconsolidated entities
209,127
195,704
624,796
585,130
Adjusted EBITDA attributable to common stockholders/unitholders*
$ 2,080,543
$ 1,867,706
$ 6,401,199
$ 5,428,474
*This is a non-GAAP financial measure. Please see our Notes and Definitions for further explanation.
Adjusted EBITDA. We use Adjusted EBITDA attributable to common stockholders/unitholders ("Adjusted EBITDA"), a non-GAAP financial measure, as a measure of our operating performance. The most directly comparable GAAP measure is net earnings.
We believe Adjusted EBITDA provides relevant and useful information by offering insight into our operating performance before the effects of financing decisions, income taxes, and certain non-cash or non-recurring charges.
We calculate Adjusted EBITDA by beginning with consolidated net earnings attributable to common stockholders and removing the effect of:
gains or losses from the disposition of investments in real estate (excluding development properties and land); depreciation and amortization expense; impairment charges; interest charges; current and deferred income taxes; preferred stock dividends; unrealized gains or losses on foreign currency and derivatives; stock compensation amortization expense; gains from the revaluation of equity investments upon acquisition of a controlling interest; gains or losses on early extinguishment of debt and derivative contracts (including cash charges); and third-party costs associated with the successful formation of new ventures. We also include an adjustment to reflect a full period of NOI on the operating properties we acquire or stabilize during the quarter and to remove NOI on properties we dispose of during the quarter, assuming all transactions occurred at the beginning of the quarter. For properties we contribute, we make an adjustment to reflect NOI at the new ownership percentage for the full quarter.
We calculate Adjusted EBITDA based on our proportionate ownership share of both our unconsolidated entities and consolidated ventures. We reflect our share of Adjusted EBITDA measures for unconsolidated entities by applying our average ownership percentage for the period to the applicable adjusting items on an entity-by-entity basis. We reflect our share for consolidated ventures in which we do not own 100% of the equity by removing the noncontrolling interests share of the applicable adjustments based on our average ownership percentage for the applicable periods.
While we believe Adjusted EBITDA is an important supplemental measure, it should not be used alone as it excludes significant components of net earnings computed under GAAP and is therefore limited as an analytical tool. We do not use Adjusted EBITDA as an alternative measure to net earnings computed under GAAP or as an alternative to cash from operating activities computed under GAAP or as an indicator of our ability to fund our cash needs. Our computation of Adjusted EBITDA may not be comparable to EBITDA reported by other companies in both the real estate industry and other industries. We compensate for the limitations of Adjusted EBITDA by providing investors with financial statements prepared according to GAAP, along with this detailed discussion of Adjusted EBITDA and a reconciliation to Adjusted EBITDA from consolidated net earnings attributable to common stockholders.
Business Line Reporting is a non-GAAP financial measure. Core FFO and development gains are generated by our three lines of business: (i) real estate operations; (ii) strategic capital; and (iii) development. The real estate operations line of business represents total Prologis Core FFO, less the amount allocated to the strategic capital line of business. The amount of Core FFO allocated to the strategic capital line of business represents the third-party share of asset management fees and transactional fees that we earn from our consolidated and unconsolidated co-investment ventures less costs directly associated with our strategic capital group and Net Promote Income (Expense). Realized development gains include our share of gains on dispositions of development properties and land, net of taxes. To calculate the per share amount, the amount generated by each line of business is divided by the weighted average diluted common shares outstanding used in our Core FFO per share calculation. Management believes evaluating our results by line of business is a useful supplemental measure of our operating performance because it helps the investing public compare the operating performance of Prologis' respective businesses to other companies' comparable businesses. Prologis' computation of FFO by line of business may not be comparable to that reported by other real estate companies as they may use different methodologies in computing such measures.
Calculation of Per Share Amounts
Three Months Ended
Nine Months Ended
Sep. 30,
Sep. 30,
in thousands, except per share amounts
2026
2025
2026
2025
Net earnings
Net earnings attributable to common stockholders
$ 815,734
$ 762,897
$ 2,857,054
$ 1,924,122
Noncontrolling interest attributable to exchangeable limited partnership units
16,781
18,781
62,639
47,592
Adjusted net earnings attributable to common stockholders - Diluted
$ 832,515
$ 781,678
$ 2,919,693
$ 1,971,714
Weighted average common shares outstanding - Basic
944,132
928,851
936,252
928,186
Incremental weighted average effect on exchange of limited partnership units
19,778
22,809
20,629
22,958
Incremental weighted average effect of equity awards
4,601
4,943
4,469
4,680
Weighted average common shares outstanding - Diluted
968,511
956,603
961,350
955,824
Net earnings per share - Basic
$ 0.86
$ 0.82
$ 3.05
$ 2.07
Net earnings per share - Diluted
$ 0.86
$ 0.82
$ 3.04
$ 2.06
Three Months Ended
Nine Months Ended
Sep. 30,
Sep. 30,
in thousands, except per share amounts
2026
2025
2026
2025
Core FFO
Core FFO attributable to common stockholders/unitholders
$ 1,544,573
$ 1,425,630
$ 4,544,193
$ 4,177,643
Noncontrolling interest attributable to exchangeable limited partnership units
261
273
714
825
Core FFO attributable to common stockholders/ unitholders - Diluted
$ 1,544,834
$ 1,425,903
$ 4,544,907
$ 4,178,468
Less: Net Promote Income (Expense)
(10,158)
(12,268)
3,689
(36,598)
Core FFO attributable to common stockholders/ unitholders, excluding Net
Promote Income (Expense) - Diluted
$ 1,554,992
$ 1,438,171
$ 4,541,218
$ 4,215,066
Weighted average common shares outstanding - Basic
944,132
928,851
936,252
928,186
Incremental weighted average effect on exchange of limited partnership units
19,778
22,909
20,629
23,223
Incremental weighted average effect of equity awards
4,601
4,943
4,469
4,680
Weighted average common shares outstanding - Diluted
968,511
956,703
961,350
956,089
Core FFO per share - Diluted
$ 1.60
$ 1.49
$ 4.73
$ 4.37
Core FFO per share, excluding Net Promote Income (Expense) - Diluted
$ 1.61
$ 1.50
$ 4.72
$ 4.41
Development Portfolio includes industrial and non-industrial properties, data centers, yards and parking lots that are under development and properties that are developed but have not met Stabilization. At September 30, 2026, total TEI for yards, parking lots, data centers and non-industrial assets was $2.9 billion on an Owned and Managed basis and $2.8 billion on a Prologis Share basis. We do not disclose square footage for yards and parking lots.
Estimated Value Creation represents the value that we expect to create through our development and leasing activities. We calculate Estimated Value Creation by estimating the Stabilized NOI that the property will generate and applying a stabilized capitalization rate applicable to that property. Estimated Value Creation is calculated as the amount by which the value exceeds our TEI, including closing costs and taxes, if any, and does not include any fees or promotes we may earn.
Estimated Weighted Average Margin is calculated on development properties as Estimated Value Creation, less estimated closing costs and taxes, if any, on properties expected to be sold or contributed, divided by TEI.
Estimated Weighted Average Stabilized Yield is calculated on the properties in the Development Portfolio as Stabilized NOI divided by TEI. The yields on a Prologis Share basis were as follows:
Pre-Stabilized
Developments
2026 Expected Completion
2027 and Thereafter Expected
Completion
Total Development Portfolio
U.S.
6.8 %
6.3 %
7.9 %
7.6 %
Other Americas
5.0 %
8.9 %
8.8 %
8.2 %
Europe
5.0 %
5.5 %
5.9 %
5.4 %
Asia
5.7 %
6.2 %
4.9 %
5.3 %
Total
6.1 %
6.2 %
7.5 %
7.1 %
FFO, as modified by Prologis attributable to common stockholders/unitholders ("FFO, as modified by Prologis"); Core FFO attributable to common stockholders/unitholders ("Core FFO"); AFFO attributable to common stockholders/unitholders ("AFFO"); (collectively referred to as "FFO"). FFO is a non-GAAP financial measure that is commonly used in the real estate industry, with net earnings as the most directly comparable GAAP measure.
The National Association of Real Estate Investment Trusts ("NAREIT") defines FFO as earnings computed under GAAP to exclude depreciation and gains and losses from sales net of any related tax, along with impairment charges, of previously depreciated properties. We exclude the gains on revaluation of equity investments upon acquisition of a controlling interest and the gain recognized from a partial sale of our investment, as these are similar to gains from the sales of previously depreciated properties. This measure excludes similar adjustments from our unconsolidated entities and the third parties' share of our consolidated ventures.
Our FFO Measures
Our FFO measures begin with NARElT's definition, with certain adjustments to calculate FFO, as modified by Prologis, and Core FFO, both as defined below, to reflect our business and execution of our management strategy. While these adjustments are subject to significant fluctuations from period to period, with both positive and negative short-term impacts, the removal of the effects of these items enhances our understanding of the core operating performance of our properties over the long term.
We use FFO, as modified by Prologis, so that management, analysts and investors are able to evaluate our performance against other REITs that do not have similar operations or operations in jurisdictions outside the U.S. We use both Core FFO and AFFO to (i) assess our operating performance as compared to other real estate companies; (ii) evaluate our performance and the performance of our properties in comparison with expected results and results of previous periods; (iii) evaluate the performance of our management; (iv) budget and forecast future results to assist in the allocation of resources; (v) provide guidance to the financial markets to understand our expected operating performance; and (vi) evaluate how a specific potential investment will impact our future results.
We calculate our FFO measures based on our proportionate ownership share of both our unconsolidated entities and consolidated ventures. We reflect our share of our FFO measures for unconsolidated entities by applying our average ownership percentage for the period to the applicable adjustments on an entity-by-entity basis. We reflect our share for consolidated ventures in which we do not own 100% of the equity by removing the noncontrolling interests share of the applicable adjustments based on our average ownership percentage for the applicable periods.
FFO, as modified by Prologis
To arrive at FFO, as modified by Prologis, we adjust the NAREIT defined FFO measure to exclude:
deferred income tax benefits and deferred income tax expenses recognized by our subsidiaries; current income tax expense related to acquired tax liabilities that were recorded as deferred tax liabilities in an acquisition, to the extent the expense is offset with a deferred income tax benefit in earnings that is excluded from our defined FFO measure; and foreign currency exchange gains and losses resulting from (a) debt transactions between us and our foreign entities; (b) third-party debt that is used to hedge our investment in foreign entities; (c) derivative financial instruments related to any such debt transactions; and (d) mark-to-market adjustments associated with derivative and other financial instruments. Core FFO
To arrive at Core FFO, we adjust FFO, as modified by Prologis, to exclude the following:
gains or losses from the disposition of land and development properties that were developed with the intent to contribute or sell; income tax expense related to the sale of investments in real estate; impairment charges recognized related to our investments in real estate generally as a result of our change in intent to contribute or sell these properties; gains or losses from the early extinguishment of debt and redemption and repurchase of preferred stock; and third-party costs associated with the successful formation of new ventures. AFFO
To arrive at AFFO, we adjust Core FFO to include realized gains from the disposition of land and development properties, net of current tax expense, turnover costs and property improvements and exclude the following items that we recognize directly in Core FFO:
straight-line rents; amortization of above- and below-market lease intangibles; amortization of management contracts; amortization of debt premiums and discounts and financing costs, net of amounts capitalized; and stock compensation amortization expense. Limitations on the use of our FFO measures
While we believe our modified FFO measures are important supplemental measures, neither NAREIT's measures or our measures of FFO should be used alone because they exclude significant components of net earnings computed under GAAP and are, therefore, limited as an analytical tool. Some of these limitations arise from excluding income tax expense that may be payable or depreciation and amortization expenses that reflect costs necessary to maintain operating performance. In addition, our FFO measure does not reflect changes in asset values resulting from fluctuations in market conditions or foreign currency exchange rates nor costs or benefits from settlement of deferred income taxes or the extinguishment of debt. We do not use NAREIT's measures or our measures of FFO as alternatives to net earnings computed under GAAP or as alternatives to cash from operating activities computed under GAAP or as indicators of our ability to fund our cash needs.
We compensate for the limitations by using our FFO measures only in conjunction with net earnings computed under GAAP when making our decisions. This information should be read with our complete Consolidated Financial Statements prepared under GAAP. To assist investors in compensating for these limitations, we reconcile our modified FFO measures from consolidated net earnings attributable to common stockholders.
Guidance. The following is a reconciliation of our annual guided Net Earnings per share to our guided Core FFO per share:
Low
High
Net earnings attributable to common stockholders (a)
$ 4.05
$ 4.15
Our share of:
Depreciation and amortization
3.28
3.32
Net gains on real estate transactions, net of taxes
(1.12)
(1.22)
Unrealized foreign currency losses (gains), losses (gains) on early
extinguishment of debt and other, net
0.04
0.04
Core FFO attributable to common stockholders/unitholders
$ 6.25
$ 6.29
Less: Net Promote Income (Expense)
—
—
Core FFO attributable to common stockholders/unitholders, excluding Net Promote
Income (Expense)
$ 6.25
$ 6.29
(a)
Earnings guidance includes potential future gains recognized from real estate transactions, but excludes future foreign currency or derivative gains or losses
as these items are difficult to predict.
Market Capitalization equals Market Equity, less liquidation preference of the preferred shares/units, plus our share of total debt.
Net Promote Income (Expense) is promote revenue earned from third-party investors during the period, net of related cash and stock compensation expenses, and taxes and foreign currency derivative gains and losses, if applicable.
Operating Portfolio represents industrial properties in our Owned and Managed portfolio that have reached Stabilization. Assets held for sale, Non-Strategic Assets and non-industrial assets are excluded from the portfolio. NOI of our Operating Portfolio excludes net termination fees and adjustments. Prologis Share of NOI includes NOI for the properties contributed to or acquired from co-investment ventures at our actual share prior to and subsequent to change in ownership. The U.S. markets not presented consist of Austin, Charlotte, Columbus, Denver, Louisville, Portland, Raleigh-Durham, Reno, San Antonio, Savannah and Tampa. The European countries not presented consist of Belgium, Czech Republic, Hungary, Italy, Poland, Slovakia, Spain and Sweden.
Owned and Managed represents the consolidated properties as well as properties owned by our unconsolidated co-investment ventures, which we manage.
Prologis Share represents our proportionate economic ownership of each entity, or property included in our total Owned and Managed portfolio, whether consolidated or unconsolidated.
Rent Change (Cash) represents the percentage change in starting rental rates per the lease agreement, on new and renewed leases, commenced during the period compared with the previous ending rental rates in that same space. This measure excludes any short-term leases of less than one-year, holdover payments, free rent periods and introductory ("teaser") rates defined as 50% or less of the stabilized rate.
Rent Change (Net Effective) represents the percentage change in net effective rental rates (average rate over the lease term), on new and renewed leases, commenced during the period compared with the previous net effective rental rates for the same respective spaces. This measure excludes any short-term leases of less than one year and holdover payments.
Retention is the square footage of all leases commenced during the period that are rented by existing tenants divided by the square footage of all expiring leases during the reporting period. The square footage of tenants that default or buy-out prior to expiration of their lease and short-term leases of less than one year, are not included in the calculation.
Same Store. Our same store metrics are non-GAAP financial measures, which are commonly used in the real estate industry and expected from the financial community, on both a net effective and cash basis. We evaluate the performance of the operating properties we own and manage using a "same store" analysis because the population of properties in this analysis is consistent from period to period, which allows us and investors to analyze our ongoing business operations. We determine our same store metrics on property NOI, which is calculated as rental revenue less rental expense for the applicable properties in the same store population for both consolidated and unconsolidated properties based on our ownership interest, as further defined below.
We define our same store population for the three months ended September 30, 2026 as the properties in our Owned and Managed Operating Portfolio, including the property NOI for both consolidated properties and properties owned by the unconsolidated co-investment ventures at January 1, 2025 and owned throughout the same three-month period in both 2025 and 2026.
We believe the drivers of property NOI for the consolidated portfolio are generally the same for the properties owned by the ventures in which we invest and therefore we evaluate the same store metrics of the Owned and Managed portfolio based on Prologis' ownership in the properties ("Prologis Share").
The same store population excludes properties held for sale to third parties, along with development properties that were not stabilized at the beginning of the period (January 1, 2025) and properties acquired or disposed of to third parties during the periods. To derive an appropriate measure of period-to-period operating performance, we remove the effects of foreign currency exchange rate movements by using the reported period-end exchange rate to translate from local currency into the U.S. dollar, for both periods.
As non-GAAP financial measures, the same store metrics have certain limitations as an analytical tool and may vary among real estate companies. As a result, we provide a reconciliation of Rental Revenues less Rental Expenses ("Property NOI") (from our Consolidated Financial Statements prepared in accordance with U.S. GAAP) to our Same Store Property NOI measures, as follows:
Three Months Ended
Sep. 30,
dollars in thousands
2026
2025
Change (%)
Reconciliation of Consolidated Property NOI to Same Store Property NOI measures:
Rental revenues
$ 2,205,269
$ 2,054,200
Rental expenses
(511,715)
(484,635)
Consolidated Property NOI
$ 1,693,554
$ 1,569,565
Adjustments to derive same store results:
Property NOI from consolidated properties not included in same
store portfolio and other adjustments (a)
(210,095)
(163,892)
Property NOI from unconsolidated co-investment ventures
included in same store portfolio (a)(b)
1,001,336
955,412
Third parties' share of Property NOI from properties included in
same store portfolio (a)(b)
(774,809)
(743,868)
Prologis Share of Same Store Property NOI - Net Effective (b)
$ 1,709,986
$ 1,617,217
5.7 %
Consolidated properties straight-line rent and fair value lease
amortization included in the same store portfolio (c)
(137,117)
(132,380)
Unconsolidated co-investment ventures straight-line rent and fair
value lease amortization included in the same store portfolio (c)
(37,816)
(38,610)
Third parties' share of straight-line rent and fair value lease
amortization included in the same store portfolio (b)(c)
29,103
31,079
Prologis Share of Same Store Property NOI - Cash (b)(c)
$ 1,564,156
$ 1,477,306
5.9 %
(a)
We exclude properties held for sale to third parties, along with development properties that were not stabilized at the beginning of the periods and properties acquired or disposed of to third parties during the periods. We also exclude one-time items due to early lease terminations, including termination fees received from customers and the write-off of related lease assets and liabilities, that are not indicative of the property's recurring operating performance in order to evaluate the growth or decline in each property's rental revenues. Same Store Property NOI is adjusted to include an allocation of property management expenses for our consolidated properties based on the property management services provided to each property (generally, based on a percentage of revenues). On consolidation, these amounts are eliminated and the actual costs of providing property management and leasing services are recognized as part of our consolidated rental expense.
(b)
We include the Property NOI for the same store portfolio for both consolidated properties and properties owned by the co-investment ventures based on our investment in the underlying properties. In order to calculate our share of Same Store Property NOI from the co-investment ventures in which we own less than 100%, we use the co-investment ventures' underlying Property NOI for the same store portfolio and apply our ownership percentage at September 30, 2026 to the Property NOI for both periods, including the properties contributed during the periods. We adjust the total Property NOI from the same store portfolio of the co-investment ventures by subtracting the third parties' share of both consolidated and unconsolidated co-investment ventures. During the periods presented, certain wholly owned properties were contributed to a co-investment venture and are included in the same store portfolio. Neither our consolidated results nor those of the co-investment ventures, when viewed individually, would be comparable on a same store basis because of the changes in composition of the respective portfolios from period to period (e.g. the results of a contributed property are included in our consolidated results through the contribution date and in the results of the venture subsequent to the contribution date based on our ownership interest at the end of the period). As a result, only line items labeled "Prologis Share of Same Store Property NOI" are comparable period-over-period.
(c)
We further remove certain noncash items (straight-line rent and fair value lease amortization) included in the financial statements prepared in accordance with U.S. GAAP to reflect a Same Store Property NOI - Cash measure. We manage our business and compensate our executives based on the same store results of our Owned and Managed portfolio at 100% as we manage our portfolio on an ownership-blind basis.
We calculate those results by including 100% of the properties included in our same store portfolio.
Stabilization is defined as the earlier of when a property that was developed has been completed for one year, is contributed to a co-investment venture following completion or is 90% occupied. Upon Stabilization, a property is moved into our Operating Portfolio.
Total Expected Investment ("TEI") represents total estimated cost of development or expansion, including land, development and leasing costs. TEI is based on current projections and is subject to change.
Weighted Average Interest Rate is based on the effective rate, which includes the amortization of related premiums and discounts and finance costs.
Weighted Average Stabilized Capitalization ("Cap") Rate is calculated as Stabilized NOI divided by the Acquisition Price.
First Citizens Bank & Trust Co. raised its stake in shares of Accenture PLC (NYSE:ACN – Free Report) by 22.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,414 shares of the information technology services provider’s stock after buying an additional 5,125 shares during the period. First Citizens Bank & Trust Co.’s holdings in Accenture were worth $5,210,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in ACN. Bank of America Corp DE lifted its holdings in shares of Accenture by 2.2% in the first quarter. Bank of America Corp DE now owns 6,531,231 shares of the information technology services provider’s stock valued at $1,295,078,000 after buying an additional 143,483 shares during the period. First Trust Advisors LP lifted its holdings in shares of Accenture by 120.0% during the first quarter. First Trust Advisors LP now owns 3,482,150 shares of the information technology services provider’s stock valued at $690,475,000 after purchasing an additional 1,899,305 shares during the last quarter. Pzena Investment Management LLC increased its position in shares of Accenture by 84.0% in the first quarter. Pzena Investment Management LLC now owns 2,405,683 shares of the information technology services provider’s stock worth $477,023,000 after acquiring an additional 1,097,961 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Accenture by 24.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 2,384,954 shares of the information technology services provider’s stock worth $472,913,000 after purchasing an additional 466,452 shares in the last quarter. Finally, Artemis Investment Management LLP raised its stake in Accenture by 67.6% during the 3rd quarter. Artemis Investment Management LLP now owns 2,196,789 shares of the information technology services provider’s stock valued at $402,825,000 after purchasing an additional 885,687 shares during the period. 75.14% of the stock is owned by institutional investors and hedge funds.
Trending Headlines about Accenture Here are the key news stories impacting Accenture this week:
Positive Sentiment: Accenture outlined multi-year growth and margin targets through fiscal 2029. The plan reassured investors that the company expects sustained demand despite a cautious consulting market. Accenture growth targets Positive Sentiment: The board raised Accenture’s quarterly dividend to $1.71 per share from $1.63, supporting shareholder returns and signaling confidence in cash generation. The company also highlighted its share-repurchase activity. Accenture dividend hike and AI deals Positive Sentiment: Accenture expanded its AI and cybersecurity partnership with Anthropic, deepened its Dell alliance for private and sovereign AI infrastructure, and launched a forward-deployed engineering program with Workday. These initiatives could increase enterprise AI implementation revenue. Accenture expands AI partnerships Positive Sentiment: The acquisition of U.K. customer-intelligence company Sagacity Solutions is intended to scale AI-powered customer analytics across Accenture Song’s U.K. and Ireland operations, strengthening the company’s AI services portfolio. Accenture acquires Sagacity Solutions Neutral Sentiment: Recent quarterly results beat estimates, with revenue up 6.2% year over year, while Accenture’s valuation and free-cash-flow yield appear attractive. However, the discounted valuation may reflect investor concerns about slower future growth. Negative Sentiment: Analysts caution that cautious client spending, pricing pressure and reliance on acquisitions could limit upside. Investors also remain focused on whether AI investment will translate into higher margins and accelerated organic growth. Negative Sentiment: COO Catherine Hogan sold 700 shares under a pre-arranged Rule 10b5-1 plan. The relatively small, scheduled transaction is unlikely to materially alter the investment case but may weigh modestly on sentiment. Accenture insider transaction Insider Activity In related news, COO Catherine Hogan sold 700 shares of the stock in a transaction that occurred on Monday, October 12th. The stock was sold at an average price of $214.24, for a total value of $149,968.00. Following the transaction, the chief operating officer owned 11,856 shares in the company, valued at approximately $2,540,029.44. This represents a 5.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Joel Unruch sold 10,498 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $162.98, for a total transaction of $1,710,964.04. Following the transaction, the general counsel directly owned 17,735 shares in the company, valued at approximately $2,890,450.30. The trade was a 37.18% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 12,518 shares of company stock valued at $2,124,932. 0.02% of the stock is owned by corporate insiders. Wall Street Analysts Forecast Growth ACN has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Accenture in a research report on Tuesday, October 6th. Morgan Stanley increased their price objective on Accenture from $175.00 to $195.00 and gave the stock an “equal weight” rating in a research note on Friday, October 2nd. William Blair lowered Accenture from an “outperform” rating to a “market perform” rating in a research report on Thursday, June 18th. Mizuho lifted their target price on Accenture from $226.00 to $241.00 and gave the company an “outperform” rating in a research note on Tuesday, October 6th. Finally, BNP Paribas Exane lowered their target price on Accenture from $180.00 to $130.00 and set a “neutral” rating on the stock in a research note on Friday, June 26th. Eleven equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $219.15.
Check Out Our Latest Stock Analysis on ACN
Accenture Trading Up 0.4% NYSE ACN opened at $214.51 on Thursday. The company has a current ratio of 1.43, a quick ratio of 1.34 and a debt-to-equity ratio of 0.31. Accenture PLC has a 1-year low of $118.15 and a 1-year high of $291.09. The firm’s fifty day simple moving average is $187.24 and its 200-day simple moving average is $173.93. The company has a market capitalization of $143.25 billion, a PE ratio of 15.82, a price-to-earnings-growth ratio of 1.76 and a beta of 1.11.
Accenture (NYSE:ACN – Get Free Report) last released its quarterly earnings data on Thursday, October 1st. The information technology services provider reported $3.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.18 by $0.11. Accenture had a return on equity of 26.53% and a net margin of 11.28%. The firm had revenue of $18.68 billion during the quarter, compared to analysts’ expectations of $18.03 billion. During the same quarter last year, the firm earned $3.03 earnings per share. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. Accenture has set its FY 2027 guidance at 14.390-14.810 EPS. As a group, sell-side analysts anticipate that Accenture PLC will post 14.68 earnings per share for the current fiscal year.
Accenture declared that its Board of Directors has approved a stock buyback program on Tuesday, June 23rd that allows the company to buy back $2.00 billion in outstanding shares. This buyback authorization allows the information technology services provider to buy up to 2.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its shares are undervalued.
Accenture Increases Dividend The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Tuesday, October 13th will be paid a dividend of $1.71 per share. This is a boost from Accenture’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Tuesday, October 13th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 3.2%. Accenture’s dividend payout ratio (DPR) is 50.44%.
About Accenture (Free Report)
Accenture plc (NYSE: ACN) is a global professional services company that helps organizations improve performance, modernize operations and respond to technological and market changes. Its services span strategy and consulting, technology, operations, and managed services, with expertise across industries including communications, financial services, health care, public service, retail, manufacturing and resources.
The company provides digital transformation, cloud migration, data and artificial intelligence, cybersecurity, systems integration and technology implementation services.
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S&P Global zpřístupnila data Visible Alpha v portálu AI Data Portal, včetně konsenzuálních odhadů více než 250 makléřských firem pro více než 8 000 společností.
Granular, broker-sourced consensus estimates, financial line items and segment data from Visible Alpha are now accessible through the S&P Global AI Data Portal for earnings preparation, portfolio monitoring and equity research workflows.
, /PRNewswire/ -- S&P Global (NYSE: SPGI) today announced that Visible Alpha data is now available through the S&P Global AI Data Portal, a solution that enables customers to access verifiable data via MCP-enabled AI applications. The addition brings Visible Alpha's granular view of sell-side consensus into S&P Global's AI data delivery ecosystem, enabling customers to build AI-powered workflows grounded in high-quality, trusted S&P Global data.
Visible Alpha, part of S&P Global Market Intelligence, extracts and standardizes data from the full working models of more than 250 contributing sell-side brokers, covering more than 8,000 companies across 170+ industries. Customers can now bring that industry-leading consensus data directly into AI workflows through the S&P Global AI Data Portal's Deterministic Retrieval solution, which provides API-driven access through direct, structured queries where users know the specific data they need.
Key capabilities:
Compatible with natural language querying in third-party AI applications that support MCP, including GPT, Gemini, Claude, and Copilot. Access through the S&P Global AI Data Portal, with Deterministic Retrieval for targeted queries available now and Adaptive Retrieval for complex, multi-dataset workflows expected later this year Supports earnings preparation, coverage initiation, comparable company analysis, valuation and investor relations benchmarking Available data: Consensus Estimates, including driver-level metrics with contributor counts and estimate dispersion; Financial Line Items, including standardized line items and historical actuals; and Segments, including business segment and product-level forecasts and actuals "Investors and analysts want to see more than the headline number. They need the assumptions and the level of analyst agreement behind it," said Peter Licursi, Head of AI and Growth, Kensho Data & Platforms, S&P Global Market Intelligence. "With Visible Alpha's rich sell-side data now available through the S&P Global AI Data Portal, customers can move from a headline consensus figure to the drivers underneath it in a single query, with answers grounded in verifiable S&P Global data. Because it sits alongside our company intelligence and credit ratings data, customers can assess the market's expectations, fundamentals and credit ratings information in the same workflow."
This addition builds on the recent launch of Adaptive Retrieval, which will support Visible Alpha data later this year. Alongside Deterministic Retrieval in the S&P Global AI Data Portal, Adaptive Retrieval is designed for more complex, open-ended workflows, enabling AI agents and large language models (LLMs) to retrieve and assemble information across multiple S&P Global datasets using natural language queries. Once available, customers will be able to use Deterministic Retrieval, Adaptive Retrieval, or both depending on their needs. Alongside the recent availability of S&P Global Credit Ratings data, today's Visible Alpha launch expands the breadth of S&P Global intelligence that customers can bring together within their AI workflows.
To learn more about the S&P Global AI Data Portal, please visit here.
About S&P Global
S&P Global (NYSE: SPGI) enables businesses, governments, and individuals with trusted data, expertise and technology to make decisions with conviction. We are Advancing Essential Intelligence through world-leading benchmarks, data, and insights that customers need in order to plan confidently, act decisively and thrive in a rapidly changing global landscape.
From helping our customers assess new investments across the capital and commodities markets to navigating the energy expansion, acceleration of artificial intelligence, and evolution of public and private markets, we enable the world's leading organizations to unlock opportunities, solve challenges and plan for tomorrow – today. Learn more at www.spglobal.com.
Company remains on track with 2026 revenue growth guidance, supported by continued margin improvement and a record low net cash usage of approximately $28MThird quarter earnings call scheduled for November 9, 2026Plug Symposium 2026: Resilient Energy, Real Solutions scheduled to take place digitally on November 19, 2026
SLINGERLANDS, N.Y., Oct. 15, 2026 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ: PLUG), a global leader in comprehensive hydrogen solutions for the hydrogen economy, is providing an update today on its 2026 business progress, highlighting improvements across three key business priorities: sales growth, margin enhancement, and improved cash flows. The Company is also sharing details for its upcoming third quarter earnings call scheduled for November 9 and Plug Symposium 2026 scheduled for November 19.
"Throughout 2026, we have remained focused on strengthening Plug's financial foundation through disciplined execution," said Jose Luis Crespo, Chief Executive Officer of Plug. "Our progress across sales, margin and cash burn demonstrates that the actions we are taking are delivering results. As we move through the fourth quarter, we remain focused on improving operating leverage, managing cash and delivering on our commercial commitments while building our pipeline for 2027 and beyond."
2026 Business Progress and Priorities
Plug continues to execute against its three key business objectives, with progress through the third quarter and continued focus on year-end performance:
Sales: Based on preliminary, unaudited estimates, Plug expects meaningful revenue growth in Q3 2026 of greater than 10% versus Q3 2025. Progress on sales and pipeline growth suggest the Company is on track to achieve its previously communicated full-year revenue growth guidance of approximately 15% to 16%, supported by commercial execution across material handling, electrolyzers and hydrogen supply.Margin: The Company has demonstrated gross margin improvement over the past two quarters and expects continued year-over-year progress in Q3 2026, reflecting the focus on cost reductions and improved operating leverage.Cash: Based on preliminary, unaudited estimates, Plug’s net cash usage for Q3 2026 was approximately $28 million, marking continued improvement for the year. Plug ended Q3 2026 with approximately $134 million in cash and cash equivalents (excluding restricted cash). The Company did not raise any proceeds through its at-the-market (ATM) offering program or generate proceeds from other equity or debt capital raises during the quarter. Hence, this net cash usage for the third quarter reflects overall operating results and fundamental improvement, which the Company believes supports its forecast for continued improvement in Q4 2026.
Looking ahead, Plug remains focused on sustaining progress across all three objectives in the fourth quarter and going forward, with an emphasis on disciplined cash management, minimizing capital expenditures, and strengthening its operating performance.
Pipeline Developments
Plug continues to advance its global GenEco electrolyzer pipeline, converting commercial opportunities into projects across sustainable fuels, ammonia production and industrial hydrogen applications.
Recent developments include:
Arcadia eFuels: Signed a 280 MW GenEco electrolyzer supply agreement for Project ENDOR in Denmark, alongside a strategic cooperation agreement positioning Plug as the preferred supplier for more than 1 GW of potential e-SAF projects across Europe and the Americas.Hy2gen: Advancing front-end engineering design (FEED) for the 275 MW Courant project in Québec, Canada, supporting renewable ammonia and ammonium nitrate production.Orica: Secured a 50 MW GenEco electrolyzer order for the Hunter Valley Hydrogen Hub in Australia, following the project's final investment decision (FID).Iberdrola and Galp: Continuing execution and commissioning activities for the 25 MW Iberdrola and bp project in Spain and the 100 MW Galp project in Portugal. These developments reinforce Plug's approximately $8 billion global electrolyzer opportunity funnel and demonstrate continued commercial progress across multiple markets. While project timelines vary, particularly for complex, first-of-a-kind developments, Plug remains focused on advancing opportunities through key milestones and converting its pipeline into revenue, supporting its near- and mid-term growth objectives.
Plug's Third Quarter 2026 Earnings Call
Plug will announce its third quarter 2026 financial results on November 9, 2026, followed by a conference call and webcast.
Date: Monday, November 9, 2026Time: 4:30 p.m. ETDial-in: 877-407-9221 (U.S. toll-free) / +1 201-689-8597 (international)Webcast: https://event.choruscall.com/mediaframe/webcast.html?webcastid=9URvMjWv Plug Symposium 2026: Resilient Energy, Real Solutions
Plug will host its annual global Symposium on November 19, 2026. The virtual broadcast will bring together customers, industry leaders and Plug executives to explore how hydrogen is addressing evolving energy needs and advancing real-world projects.
Under the theme Resilient Energy, Real Solutions, discussions will focus on energy security, rising electricity demand, grid resilience, evolving regulations and emerging hydrogen markets. The program will also feature customer perspectives on project execution and insights from Plug leadership on business priorities and technology.
"Hydrogen's role in the global energy landscape is increasingly defined by real projects and customer needs," added Crespo. "Our Symposium will bring together industry perspectives and practical solutions that can help build a more resilient energy future."
Register for Plug Symposium 2026:
Date: Thursday, November 19, 2026Time: 9:00 a.m. to 12:00 p.m. ETFormat: Global digital broadcast, online onlyRegistration: https://event.on24.com/wcc/r/5510703/EA51E05DFD0F47F65DAD28347B3A226D About Plug Power
Plug is building the global hydrogen economy with a fully integrated ecosystem spanning production, storage, delivery, and power generation. A first mover in the industry, Plug provides electrolyzers, liquid hydrogen, fuel cell systems, storage tanks, and fueling infrastructure to customers worldwide across material handling, industrial applications, and energy production, advancing energy independence and decarbonization at scale.
Plug has deployed electrolyzers on five continents, along with more than 76,000 fuel cell systems and 280 fueling stations, and is the world's largest user of liquid hydrogen. Its expanding generation network has production capacity of 40 tons of hydrogen per day, supplying large-scale projects that redefine industrial power for customers globally.
Headquartered in New York, with employees and state-of-the-art manufacturing facilities around the world, Plug powers global leaders like BMW, BP, Walmart, Amazon, and Home Depot. For more information, visit www.plugpower.com.
Forward-Looking Statements
This communication contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements in this press release that are not historical facts, including, without limitation, statements regarding Plug's expected financial and operational performance; the preliminary estimates of the Company's third quarter 2026 results; anticipated revenue growth; expected improvements in gross margin, operating leverage, operating efficiencies, and cost reductions; anticipated cash burn, liquidity, capital expenditures, and cash management initiatives; the Company's ability to execute on its commercial objectives and customer commitments; expected demand for Plug's products and services across material handling, electrolyzers, hydrogen production, and hydrogen supply; expectations regarding future hydrogen production capacity and utilization; anticipated benefits from strategic initiatives and operational improvements; expected business performance during the fourth quarter and full year 2026; anticipated market opportunities, industry growth, and adoption of hydrogen technologies; the Company's electrolyzer opportunity funnel and the expected development, financing, timing, and conversion of potential projects and customer agreements into orders and revenue; expectations and statements regarding Plug Symposium 2026 and related discussions concerning energy security, grid resilience, regulatory developments, hydrogen markets, and customer projects; and other statements regarding Plug's future operating results, financial condition, business strategy, performance, prospects, objectives, plans, and opportunities, are forward-looking statements.
These forward-looking statements are based on current expectations, estimates, forecasts, and projections, as well as the beliefs and assumptions of management, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements. These risks and uncertainties include, among other things: whether the Company achieves its anticipated revenue growth, margin improvement, operating leverage, profitability, liquidity, and cash flow objectives; whether the Company is able to sustain recent reductions in cash burn; the Company's ability to manage working capital, operating expenses, and capital expenditures; whether anticipated customer demand, project activity, bookings, and commercial opportunities materialize as expected; whether awarded projects and opportunities successfully progress to implementation, revenue generation, and commercial operation; the Company's ability to manufacture, deliver, deploy, and service its products in accordance with customer requirements and anticipated schedules; the availability and price of hydrogen, electricity, natural gas, and other key inputs; the pace of market adoption of hydrogen technologies; changes in government policies, regulations, incentives, and funding programs; supply chain disruptions, inflationary pressures, labor availability, and project execution risks; risks related to the Company's future capital requirements and liquidity needs; the Company's ability to obtain financing when needed and on acceptable terms; the possibility that the Company's actual third quarter 2026 results will differ from the preliminary estimates in this press release as a result of the completion of quarter-end close procedures, review by the Company's independent registered public accounting firm, final adjustments, or subsequent events; the Company's history of net losses and negative cash flows from operations, its need for additional capital, and the dilution or other terms that may accompany any future financing; the timing of customer collections, vendor payments, inventory purchases, and capital expenditures, which can cause net cash usage to fluctuate significantly from period to period; the timing of revenue recognition, customer acceptance, and contract modifications; the possibility that gross margin improvements are not sustained and are affected by product and project mix, inventory and other charges, warranty and service costs, and other non-recurring items; customer concentration and counterparty credit risk; delays or cancellations of customer projects, including as a result of customers' failure to reach final investment decisions or secure financing or permits; the performance, commissioning, and acceptance of the Company's products and projects; tariffs and trade restrictions; and general market, economic, competitive, geopolitical, and regulatory conditions.
Such statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in these forward-looking statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to Plug's business generally, see Plug's public filings with the Securities and Exchange Commission ("SEC"), including the "Risk Factors" section of Plug's Annual Report on Form 10-K for the year ended December 31, 2025, and Plug's subsequent Quarterly Reports on Form 10-Q and other filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements or the preliminary estimates in this press release, which speak only as of the date of this press release. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.
, /PRNewswire/ -- The Allstate Corporation (NYSE: ALL) today announced estimated catastrophe losses for the month of September of $220 million or $173 million, after-tax. Total catastrophe losses for the third quarter were $1.65 billion or $1.30 billion, after-tax.
Financial information, including material announcements about The Allstate Corporation, is routinely posted on www.allstateinvestors.com.
Forward-Looking Statements
This news release contains "forward-looking statements" that anticipate results based on our estimates, assumptions and plans that are subject to uncertainty. These statements are made subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements do not relate strictly to historical or current facts and may be identified by their use of words like "plans," "seeks," "expects," "will," "should," "anticipates," "estimates," "intends," "believes," "likely," "targets" and other words with similar meanings. We believe these statements are based on reasonable estimates, assumptions and plans. However, if the estimates, assumptions or plans underlying the forward-looking statements prove inaccurate or if other risks or uncertainties arise, actual results could differ materially from those communicated in these forward-looking statements. Factors that could cause actual results to differ materially from those expressed in, or implied by, the forward-looking statements may be found in our filings with the U.S. Securities and Exchange Commission, including the "Risk Factors" section in our most recent annual report on Form 10-K. Forward-looking statements are as of the date on which they are made, and we assume no obligation to update or revise any forward-looking statement.
About Allstate
The Allstate Corporation (NYSE: ALL) protects people from life's uncertainties with affordable, simple and connected protection for autos, homes, electronic devices, and identities. Products are available through a broad distribution network including Allstate agents, independent agents, major retailers, online, and at the workplace. Allstate has 216 million policies in force and is widely known for the slogan "You're in Good Hands with Allstate." For more information, visit www.allstate.com.
Americká banka U.S. Bancorp zveřejnila výsledky hospodaření za třetí kvartál roku 2026. Výsledky byly zhruba v souladu s očekáváním. Rekordní výnosy podpořil první celý kvartál po akvizici BTIG, díky které výnosy z kapitálových trhů meziročně vzrostly o 69,3 %. Banka zároveň zvýšila výhled růstu čistých výnosů za celý rok na 8 % až 9 % z dřívějších 7 % až 9 %.
Výsledky společnosti U.S. Bancorp (USB) za 3Q 2026 3Q 2026 Konsensus 3Q 2026 3Q 2025 Čisté výnosy (mld. USD) 7,97 8,01 7,33 Čistý zisk (mld. USD) 2,21 -- 2,01 Zisk na akcii (EPS, USD/akcie) 1,34 1,32 1,22 Výsledky za 3Q Čisté výnosy meziročně vzrostly o 8,7 % na 7,97 mld. USD, a zůstaly tak nepatrně pod odhadem 8,01 mld. USD.
Čisté úrokové výnosy meziročně vzrostly o 5,6 % na 4,49 mld. USD v souladu s odhadem 4,50 mld. USD. Čistá úroková marže se meziročně zvýšila o 9 bazických bodů na 2,84 % při konsensu 2,81 %.
Neúrokové výnosy meziročně vzrostly o 13,1 % na 3,48 mld. USD při odhadu 3,51 mld. USD. Výnosy z kapitálových trhů meziročně vzrostly o 69,3 % na 640 mil. USD, a to především díky příspěvku BTIG.
Neúrokové náklady meziročně vzrostly o 7,1 % na 4,49 mld. USD, tedy mírně pod odhadem 4,55 mld. USD. Pozitivní provozní páka činila 240 bazických bodů.
Náklady na riziko činily 654 mil. USD, tedy pod odhadem 737,2 mil. USD. Čisté odpisy úvěrů dosáhly 523 mil. USD při konsensu 567,2 mil. USD a jejich poměr k úvěrům klesl na 0,51 % z 0,56 % před rokem.
Rentabilita aktiv (ROA) činila 1,25 % při odhadu 1,19 %, rentabilita vlastního kapitálu (ROE) dosáhla 13,6 % při odhadu 13,2 % a rentabilita hmotného kmenového kapitálu (ROTCE) byla 18,5 %.
Průměrný objem úvěrů meziročně vzrostl o 8,0 % na 409,55 mld. USD, a zůstal tak pod odhadem 412,16 mld. USD. Průměrné vklady se meziročně zvýšily o 2,9 % na 526,60 mld. USD při odhadu 525,22 mld. USD.
Kapitálový poměr CET1 dosáhl 10,8 % v souladu s odhadem.
Výhled Ve 4Q 2026 banka očekává meziroční růst čistých úrokových výnosů o 6 % až 7 %, růst výnosů z poplatků o 13 % až 14 % a růst neúrokových nákladů zhruba o 8 %.
Pro celý rok 2026 banka zvýšila výhled růstu čistých výnosů na 8 % až 9 % z dřívějších 7 % až 9 %, bez vlivu BTIG na 6 % až 7 % z dřívějších 5 % až 7 %. Pozitivní provozní páku nově očekává zhruba ve výši 300 bazických bodů oproti předchozím přibližně 200 bazickým bodům, bez vlivu BTIG zhruba 400 bazických bodů. BTIG by podle banky měla přidávat přibližně 200 mil. USD kvartálních čistých výnosů.
Komentář CEO „Dosáhli jsme silných výsledků za třetí kvartál. Rekordní čisté výnosy ve výši 8,0 mld. USD přinesly zisk na akcii 1,34 USD, meziročně o 10 % více, rentabilitu hmotného kmenového kapitálu 18,5 % a poměr nákladů k výnosům 55,9 %. Poměr čistých odpisů úvěrů se zlepšil na 51 bazických bodů. Výjimečná skladba našeho podnikání a stále silnější provozní disciplína nám pomohly dosáhnout vysoké rentability, produktivity a obezřetného řízení rizik a zároveň posílit růst výnosů. Vykázali jsme první celý kvartál výsledků BTIG, což přispělo k meziročnímu růstu výnosů z kapitálových trhů o 69,3 %. Transformace našeho platebního byznysu nabrala na dynamice a přinesla meziroční růst kombinovaných výnosů o 6,5 %. S potěšením jsme vykázali další kvartál s rekordními vklady spotřebitelů a spustili jsme významné iniciativy k rozšíření našeho dosahu v segmentu malých firem. Převzali jsme strategické partnerství v oblasti kreditních karet pro malé firmy, uvedli na trh Business Essentials, inovativní sadu nových produktů, a vytvořili nové týmy bankéřů na expanzních trzích,“ uvedla předsedkyně představenstva a generální ředitelka Gunjan Kedia.
Vývoj akcie Akcie U.S. Bancorp (USB) v předburzovní fázi obchodování stagnují na 56,26 USD.
Akcie U.S. Bancorp (USB) včera uzavřely na 56,26 USD Ukazatel Ukazatel Kapitalizace (mld. USD) 87,7 P/E 11,0 Vývoj za letošní rok (%) +5,4 Očekávané P/E 10,7 52týdenní minimum (USD) 45,0 Prům. cílová cena (USD) 68,3 52týdenní maximum (USD) 66,1 Dividendový výnos (%) 3,7 Zdroj: U.S. Bancorp, Bloomberg
Berkshire Hathaway (BRKA +1.18%) (BRKB +1.11%) hasn't given investors much to get excited about this year. While the S&P 500 (^GSPC -1.11%) has gained about 14% in 2026, shares of Warren Buffett's former company are up only 3%.
But there's an interesting argument for owning Berkshire Hathaway that has nothing to do with how the stock is performing today. In fact, it becomes particularly compelling when the rest of the stock market is struggling.
Consider this: Since 1965, Berkshire Hathaway has outperformed the S&P 500 in 11 of the 13 years when the benchmark index posted a negative annual return.
That's an outstanding record -- and one that investors might want to consider before dismissing Berkshire as a stock that's lost its momentum.
Image source: Getty Images.
Berkshire Hathaway has a history of beating during down markets
One of the most interesting features of Berkshire Hathaway's annual shareholder letter is a table comparing the company's stock performance against the S&P 500, including dividends, dating back to 1965.
The results are remarkable. During that period, Berkshire delivered a compounded annual gain of 19.7%, compared to 10.5% for the S&P 500. That's the kind of performance that made Buffett one of the greatest investors of all time.
But I was particularly interested in what happened during the years when the stock market declined. The S&P 500 recorded 13 losing years between 1965 and 2025. Berkshire outperformed the index in 11 of them, including several occasions when its stock actually gained value while the broader market declined.
Years the S&P 500 Posted a Loss Since 1965
Berkshire Hathaway Performance
S&P 500 Performance
1966
-3.4%
-11.7%
1969
19.4%
-8.4%
1973
-2.5%
-14.8%
1974
-48.7%
-26.4%
1977
46.8%
-7.4%
1981
31.8%
-5%
1990
-23.1%
-3.1%
2000
26.6%
-9.1%
2001
6.5%
-11.9%
2002
-3.8%
-22.1%
2008
-31.8%
-37%
2018
2.8%
-4.4%
2022
4%
-18.1%
Source: Berkshire Hathaway.
For example, in 2022, the S&P 500 fell 18.1% as inflation and rising interest rates weighed on stocks. Berkshire managed a 4% gain. And during the 2008 financial crisis, the S&P 500 plunged 37%. Berkshire had a bad year as well, falling 31.8%, but shareholders still came out ahead of investors holding the broader index.
The exceptions were 1974 and 1990, when Berkshire suffered steeper losses than the S&P 500. In 1974, Berkshire plunged 48.7%, compared to a 26.4% decline for the index.
So, Berkshire isn't necessarily a haven when stocks fall. But its history suggests it has frequently provided investors with some protection against the worst of a market decline.
Today's Change
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5.76
Current Price
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526.35
Why Berkshire Hathaway is different
There's a reason Berkshire has held up relatively well in difficult markets. It's not a typical stock, and its business isn't dependent on any single industry.
Berkshire owns companies ranging from the insurance giant GEICO to the BNSF railroad, as well as energy utilities, manufacturing operations, and retail businesses. It also has an investment portfolio that includes major holdings in Apple, American Express, and Coca-Cola.
That diversification doesn't eliminate risk, but it gives Berkshire multiple sources of earnings and cash flow, even when some parts of the economy are struggling.
Then there's the company's enormous cash position. In the company's second-quarter earnings report, Berkshire reported about $365.5 billion in cash and U.S. Treasury securities. Although some of that money is needed to support the insurance business, it also enables Berkshire to invest when attractive opportunities arise.
That's an important distinction. When stock prices fall, companies that need financing can find themselves in trouble. Berkshire, meanwhile, has the financial resources to purchase businesses or stocks at prices that may be considerably more attractive than they were during a bull market.
It's a strategy Buffett used for decades, and new Chief Executive Officer Greg Abel has emphasized that Berkshire will remain disciplined in how it invests shareholders' money.
Is Berkshire Hathaway stock a buy today?
Berkshire's lackluster performance in 2026 presents an interesting choice for investors.
The S&P 500 has continued climbing, while Berkshire has largely been on the sidelines. For investors seeking exposure to the market's fastest-growing companies, Berkshire may not look particularly appealing.
BRK.B data by YCharts
But Berkshire doesn't need a market decline to be a successful investment. Its collection of operating businesses, investment portfolio, and enormous financial resources can generate value over time, regardless of what the S&P 500 does in any particular year.
Still, with the S&P 500 enjoying another strong year and Berkshire stock taking a breather, investors have an opportunity to consider a company with a remarkable history of holding its own when markets struggle.
Berkshire may not be the stock that leads the market higher. But during the past six decades, it has frequently been the stock investors were glad they owned when the market headed lower.
Main Street očekává ve třetím čtvrtletí 2026 čistý investiční výnos ve výši 0,87–0,91 USD na akcii a NAV v rozmezí 34,18–34,26 USD na akcii, což představuje mezičtvrtletní růst o 0,8–1,0 %.
Announces Third Quarter 2026 Earnings Release and Conference Call Schedule
, /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street" or the "Company") is pleased to announce its preliminary operating results for the third quarter of 2026 and its third quarter 2026 earnings release and conference call schedule.
In commenting on the Company's preliminary operating results for the third quarter of 2026, Dwayne L. Hyzak, Main Street's Chief Executive Officer, stated, "We are pleased with our performance in the third quarter, which resulted in another quarter of strong operating results, including distributable net investment income before taxes that was in line with our expectations and prior guidance provided on our last conference call and an increase to our net asset value per share for the seventeenth consecutive quarter. We look forward to sharing the full details of our third quarter 2026 results in a few weeks."
Preliminary Estimates of Third Quarter 2026 Results
Main Street's preliminary estimate of third quarter 2026 net investment income ("NII") is $0.87 to $0.91 per share, distributable net investment income ("DNII")(1) is $0.94 to $0.98 per share and DNII before taxes(2) is $0.96 to $1.00 per share.
Main Street's preliminary estimate of net asset value ("NAV") per share as of September 30, 2026 is $34.18 to $34.26, representing an increase of $0.26 to $0.34 per share, or 0.8% to 1.0%, from the NAV per share of $33.92 as of June 30, 2026, with this increase after the impact of the supplemental dividend paid in September 2026 of $0.30 per share. The estimated NAV per share increase is primarily due to the net fair value appreciation on the investment portfolio, including realized and unrealized activity, and the accretive impact of equity issuances, partially offset by the total dividends per share paid in the third quarter in excess of NII per share and the net tax provision. The net fair value appreciation on the investment portfolio is primarily the result of net fair value appreciation on the lower middle market ("LMM") investment portfolio, private loan investment portfolio and other portfolio investments, partially offset by net fair value depreciation on the middle market investment portfolio and fair value depreciation of the wholly-owned external investment manager.
As a result of Main Street's preliminary estimates of NII, net fair value appreciation and the net tax provision as noted above, Main Street estimates that it generated an annualized return on equity of over 14% for the third quarter.(3)
Main Street preliminarily estimates that investments on non-accrual status comprised 0.9% of the total investment portfolio at fair value and 3.5% at cost as of September 30, 2026.
Additionally, during the quarter, Main Street Mezzanine Fund, LP, an investment fund wholly-owned by the Company and licensed as a Small Business Investment Company ("SBIC") by the U.S. Small Business Administration ("SBA"), received approval from the SBA to increase the borrowing capacity of its SBIC debentures by $75.0 million to $250.0 million. Combined with Main Street's other wholly-owned investment fund licensed as an SBIC, Main Street Capital III, LP, this gives Main Street access to $425.0 million of the recently increased $475.0 million of regulatory maximum SBIC debenture borrowing capacity for affiliated SBIC funds. Main Street expects to maintain SBIC debentures under the SBIC program in the future, subject to periodic repayments and borrowings, in an amount up to the regulatory maximum amount.
Investment Portfolio Activity
The Company's third quarter 2026 operating activities include the following investment activity in the LMM and private loan investment strategies:
$61.5 million in total LMM portfolio investments, which after aggregate repayments, return of invested equity capital and a decrease in cost basis due to a realized loss resulted in a net decrease of $19.4 million in the total cost basis of the LMM investment portfolio; and
$162.0 million in total private loan portfolio investments, which after aggregate repayments, return of invested equity capital and a decrease in cost basis due to realized losses resulted in a net decrease of $1.8 million in the total cost basis of the private loan investment portfolio.
Third Quarter 2026 Earnings Release and Conference Call Schedule
Main Street will release its third quarter 2026 results on Thursday, November 5, 2026, after the financial markets close. In conjunction with the release, Main Street has scheduled a conference call, which will be broadcast live via phone and over the Internet, on Friday, November 6, 2026, at 10:00 a.m. Eastern time. Investors may participate either by phone or audio webcast.(4)
By Phone:
Dial 412-902-0030 at least 10 minutes before the call. A replay will be available through November 13, 2026 by dialing 201-612-7415 and
using the access code 13762919#.
By Webcast:
Connect to the webcast via the Investor Relations section of Main Street's website at www.mainstcapital.com. Please log in at least
10 minutes in advance to register and download any necessary software. A replay of the conference call will be available on Main Street's
website shortly after the call and will be accessible until the date of Main Street's earnings release for the next quarter.
ABOUT MAIN STREET CAPITAL CORPORATION
Main Street (www.mainstcapital.com) is a principal investment firm that primarily provides customized long-term debt and equity capital solutions to lower middle market companies and debt capital to private companies owned by or in the process of being acquired by a private equity fund. Main Street's portfolio investments are typically made to support management buyouts, recapitalizations, growth financings, refinancings and acquisitions of companies that operate in diverse industry sectors. Main Street seeks to partner with entrepreneurs, business owners and management teams and generally provides customized "one-stop" debt and equity financing solutions within its lower middle market investment strategy. Main Street seeks to partner with private equity fund sponsors and primarily invests in secured debt investments in its private loan investment strategy. Main Street's lower middle market portfolio companies generally have annual revenues between $10 million and $150 million. Main Street's private loan portfolio companies generally have annual revenues between $25 million and $500 million.
Main Street, through its wholly-owned portfolio company MSC Adviser I, LLC dba Main Street Capital Partners ("MSCP Adviser"), also maintains an asset management business through which it manages investments for external parties. MSCP Adviser is registered as an investment adviser under the Investment Advisers Act of 1940, as amended.
FORWARD-LOOKING STATEMENTS AND OTHER MATTERS
Main Street cautions that statements in this press release which are forward-looking and provide other than historical information, including but not limited to the preliminary estimates of third quarter 2026 financial information and results, are based on current conditions and information available to Main Street as of the date hereof. Although its management believes that the expectations reflected in those forward-looking statements are reasonable, Main Street can give no assurance that those expectations will prove to be correct. Those forward-looking statements are made based on various underlying assumptions and are subject to numerous uncertainties and risks, including, without limitation, such factors described under the captions "Cautionary Statement Concerning Forward-Looking Statements" and "Risk Factors" included in Main Street's filings with the U.S. Securities and Exchange Commission (the "SEC") (www.sec.gov). Main Street undertakes no obligation to update the information contained herein to reflect subsequently occurring events or circumstances, except as required by applicable securities laws and regulations.
The preliminary estimates of third quarter 2026 financial information and results furnished above are based on Main Street management's preliminary determinations and current expectations, and such information is inherently uncertain. The preliminary estimates provided herein have been prepared by, and are the responsibility of, management and are subject to completion of Main Street's customary quarter-end closing and review procedures and third-party review, including the determination of the fair value of Main Street's portfolio investments. As a result, actual results could differ materially from the current preliminary estimates based on adjustments made during Main Street's quarter-end closing and review procedures and third-party review, and Main Street's reported information in its Quarterly Report on Form 10-Q for the quarter ended September 30, 2026 may differ from this information, and any such differences may be material. In addition, the information furnished above does not include all of the information regarding Main Street's financial condition and results of operations for the quarter ended September 30, 2026 that may be important to readers. As a result, readers are cautioned not to place undue reliance on the information furnished in this press release and should view this information in the context of Main Street's full third quarter 2026 results when such results are disclosed by Main Street in its Quarterly Report on Form 10-Q for the quarter ended September 30, 2026. The information furnished in this press release is based on Main Street management's current expectations that involve substantial risks and uncertainties that could cause actual results to differ materially from the results expressed in, or implied by, such information.
Main Street has an existing effective Registration Statement on Form N-2 on file with the SEC relating to the offer and sale from time to time of its securities. Investors are advised to carefully consider the investment objective, risks and charges and expenses of Main Street before investing in any of Main Street's securities. The prospectus included in the Registration Statement on Form N-2, together with any related prospectus supplement, contain this and other information about Main Street and should be read carefully before investing. A copy of the prospectus and any related prospectus supplement may be obtained by contacting Main Street.
Endnotes
(1)
DNII is NII as determined in accordance with U.S. Generally Accepted Accounting Principles, or U.S. GAAP, excluding the impact of non-cash compensation expenses, which includes both share-based compensation expenses and deferred compensation expense or benefit. Main Street believes presenting DNII per share is useful and appropriate supplemental disclosure for analyzing its financial performance since (i) share-based compensation does not require settlement in cash and (ii) deferred compensation expense or benefit does not result in a net cash impact to Main Street upon settlement. However, DNII is a non-U.S. GAAP measure and should not be considered as a replacement for NII or other earnings measures presented in accordance with U.S. GAAP. Instead, DNII should be reviewed only in connection with such U.S. GAAP measures in analyzing Main Street's financial performance. In order to reconcile estimated DNII per share to estimated NII per share in accordance with U.S. GAAP for the third quarter of 2026, an estimated $0.06 to $0.07 per share of non-cash compensation expenses are added back to estimated NII per share to calculate estimated DNII per share.
(2)
DNII before taxes is NII as determined in accordance with U.S. GAAP, excluding the impact of non-cash compensation expenses, which includes both share-based compensation expenses and deferred compensation expense or benefit, and any tax expenses included in NII. Main Street believes presenting DNII before taxes per share is useful and appropriate supplemental disclosure for analyzing its financial performance since (i) share-based compensation does not require settlement in cash, (ii) deferred compensation expense or benefit does not result in a net cash impact to Main Street upon settlement and (iii) tax expenses included in NII may include (a) excise tax expense, which is not solely attributable to NII, and (b) deferred taxes, which are not payable in the current period. However, DNII before taxes is a non-U.S. GAAP measure and should not be considered as a replacement for NII, NII before taxes or other earnings measures presented in accordance with U.S. GAAP. Instead, DNII before taxes should be reviewed only in connection with such U.S. GAAP measures in analyzing Main Street's financial performance. In order to reconcile estimated DNII before taxes per share to estimated NII per share in accordance with U.S. GAAP for the third quarter of 2026, an estimated $0.06 to $0.07 per share of non-cash compensation expenses and an estimated $0.02 per share of NII related tax expenses are added back to estimated NII per share to calculate estimated DNII before taxes per share.
(3)
Return on equity equals the net increase in net assets resulting from operations divided by the average quarterly total net assets.
(4)
No information contained on the Company's website or disclosed on the November 6, 2026 conference call, including the webcast and the archived versions, is incorporated by reference in this press release or any of the Company's filings with the SEC, and you should not consider that information to be part of this press release or any other such filing.
Akamai hlásí nárůst počtu zákazníků cloudových služeb, který pohání AI, SaaS a poptávka po GPU NVIDIA RTX PRO 6000 Blackwell Server Edition pro výpočetně náročné úlohy.
CAMBRIDGE, Mass., Oct. 15, 2026 (GLOBE NEWSWIRE) -- Akamai (Nasdaq: AKAM) today announced a new wave of customer adoption for its Akamai Cloud Computing services. Leading software, digital media, and technology organizations are expanding their reliance on Akamai Cloud, driven by growing enterprise demand for high-performance CPU-based compute, specialized GPU capacity, and resilient storage.
“As AI and data-heavy applications mature, the underlying infrastructure supporting them must evolve,”
This customer momentum reflects enterprise demand across critical technical requirements: from model training through low-latency inference, core-to-edge application hosting, and cloud disaster recovery, allowing organizations to optimize infrastructure performance, span workloads seamlessly, and control spending.
Key Highlights of Customer Momentum:
Enterprise & AI Workloads Lead Growth: Software and SaaS companies represented the overwhelming majority of new customers, underscoring Akamai's strength as a trusted partner for software providers.Demand for Next-Gen GPU Infrastructure: Adoption of specialized accelerated compute, driven by customer wins for Akamai's NVIDIA RTX PRO™ 6000 Blackwell Server Edition GPU instances for AI and compute-heavy workloads.Global Market Expansion: Akamai expanded its customer base across international markets, with Asia-Pacific & Japan (APJ) and EMEA accounting for most new customer additions.Diversified Sector Adoption: Beyond software, Akamai gained traction in high-bandwidth industries, adding notable new customer logos across business services, digital media, and streaming. Representative Customer Wins & Workload Profile:
Next-Gen AI & Pilot GPU Deployments: A leading North American technology innovator is deploying Akamai’s NVIDIA RTX PRO™ 6000 Blackwell Server Edition GPU infrastructure for high-performance AI model testing and specialized compute piloting.Asia-Pacific Cloud & Disaster Recovery: An Asia-Pacific logistics technology provider serving global supply chains is migrating its AI-driven warehouse tracking and automation workloads to Akamai Cloud. By displacing multiple legacy cloud providers, the company is securing the stable, cost-effective GPU and compute infrastructure needed to scale its AI platform and digital workflows sustainably.Developer Platform & SaaS Scale-Up: A rising developer platform is migrating its core microservices architecture from a major hyperscaler to Akamai LKE to resolve legacy cost friction and margin compression. Deploying a tailored mix of GPU, shared, and dedicated compute instances alongside cloud firewalls enables the provider to achieve performance parity, dramatically reduce primary infrastructure costs, and scale nearly 1,500 active microservices efficiently.Digital Media & High-Density Streaming: A global digital media producer selected Akamai GPU compute instances to accelerate streaming infrastructure, video rendering, and content distribution.Healthcare & Public Sector Continuity: A European healthcare research institution is deploying Akamai Cloud infrastructure to power secure, redundant cloud storage and mission-critical disaster recovery operations.Cloud Infrastructure for Media Workloads: A global media technology leader selected Akamai LKE and Object Storage to power its containerized media playout and processing operations. By migrating its compute-intensive digital workflows to Akamai's cloud-native platform, the company optimized its cloud footprint and infrastructure economics while maintaining the high-performance standards required for demanding media applications. “As AI and data-heavy applications mature, the underlying infrastructure supporting them must evolve,” said Adam Karon, Chief Operating Officer and General Manager, Cloud Technology Group at Akamai. “Enterprises can no longer afford to treat cloud compute as a one-size-fits-all model. That shift is why technology leaders are turning to Akamai for high-performance compute and GPU capacity where efficiency and scale matter most.”
To learn more about Akamai Cloud, visit akamai.com/cloud
About Akamai
Akamai is the cloud company that powers and protects an AI-driven world. Our cloud platform extends high-performance cloud computing from the core to the edge, enabling organizations to build and scale next-generation AI applications and providing comprehensive, multilayered security to safeguard enterprises against evolving cyberthreats. Learn more at akamai.com and akamai.com/blog, or follow Akamai Technologies on X and LinkedIn.
Vienna Insurance Group zvýšila výhled zisku před zdaněním pro rok 2026 na 1,35 až 1,40 mld. EUR díky lepšímu vývoji podnikání a očekávanému příspěvku společnosti NÜRNBERGER.
Pojišťovací skupina Vienna Insurance Group (VIG) zvýšila na základě dosavadního vývoje a prvotního odhadu příspěvku skupiny NÜRNBERGER projekci zisku před zdaněním na rok 2026. Nově zisk před zdaněním očekává v rozmezí 1,35 až 1,40 mld. EUR.
Navýšení výhledu
Rakouská pojišťovací společnost Vienna Insurance Group přistoupila stejně jako loni k navýšení roční projekce zisku před zdaněním. Nově jej projektuje v rozmezí 1,35 až 1,40 mld. EUR, čímž by měl překonat dříve komunikované rozpětí. Vedení skupiny zvýšení zdůvodňuje pozitivním obchodním vývojem, který dosud překonává očekávání, a prvotním odhadem příspěvku skupiny NÜRNBERGER k zisku ve finančním roce 2026. Výsledky za první tři kvartály skupina zveřejní podle plánu 26. listopadu 2026.
Akcie VIG
Akcie společnosti Vienna Insurance Group (BAAVIG) dnes na pražské burze posilují 4,62 % na 1 675 Kč. Na RM-SYSTÉMu se akcie obchodují za 1 635 Kč.
Zdroj: VIG
Michal Bárta
Fio banka, a.s.
Prohlášení
Související odkazy
VIG: Společnost USG se připojuje k záručnímu programu pro obnovu a rekonstrukci Ukrajiny
VIG: Oddo BHF zvyšuje cílovou cenu z 62 EUR na 68 EUR se stávajícím doporučením
VIG získala 25% podíl v Dolphin Technologies
Pražská burza v úvodu mírně posiluje
Pojišťovna VIG zveřejnila výsledky za 1H a potvrdila celoroční výhled
ATLANTA, Oct. 15, 2026 (GLOBE NEWSWIRE) -- First Advantage Corporation (NASDAQ: FA), a global software and data company, will issue its third quarter 2026 financial results on Thursday, November 5, 2026 prior to the Company’s earnings conference call, which will be held at 8:30 a.m. ET on the same day.
Conference Call Details
To participate in the conference call, please dial 800-579-2543 (domestic) or 785-424-1789 (international) approximately ten minutes before the 8:30 a.m. ET start. Please mention to the operator that you are dialing in for the First Advantage third quarter 2026 earnings call or provide the conference code FA3Q26. The call will also be webcast live on the Company’s investor relations website at https://investors.fadv.com under the “News & Events” and then “Events & Presentations” section, where related presentation materials will be posted prior to the conference call. The webcast may be accessed directly at
https://event.on24.com/wcc/r/5508610/155836F5FA3B3D924EF9669941EDE522.
Following the conference call, a replay of the webcast will be available on the Company’s investor relations website, https://investors.fadv.com.
About First Advantage
First Advantage (NASDAQ: FA) is a global software and data company. We provide comprehensive, end-to-end identity solutions, criminal background screening, credential verifications, drug and health screening, and continuous risk monitoring. Combining AI-powered proprietary technology platforms with proprietary data, primary source data, and third-party data, we help organizations hire with confidence and manage risk across the entire employee lifecycle. With over 80,000 customers worldwide – including approximately two-thirds of the Fortune 100 – we deliver fast, comprehensive, and reliable solutions for employers, their candidates, and their employees. We conduct more than 200 million screens annually across over 200 countries and territories, supported by our verticalized go-to-market strategy, decades of experience, and proprietary databases containing over 1 billion records. For more information, please visit our website at https://fadv.com/.
First Horizon ve 3. čtvrtletí vykázala čistou ztrátu 94 milionů USD v důsledku kroků souvisejících s prodejem hypotečního portfolia v hodnotě zhruba 4,5 miliardy USD.
, /PRNewswire/ -- First Horizon Corporation (NYSE: FHN) (or "First Horizon") today reported financial results for the third quarter of a net loss available to common shareholders of $(94) million or loss per share of $(0.20). These results reflect the impact of strategic actions to further align the balance sheet with the Company's growth priorities. During the quarter, the Company began evaluating the possibility of selling ~$4.5 billion of select lower yielding consumer mortgages and, in early October, entered into an agreement to sell these mortgages. This transaction will be accretive to earnings on a go forward basis and will provide balance sheet flexibility to support future loan growth. The transaction is expected to settle early in the fourth quarter.
Excluding notable items, adjusted earnings per share for third quarter 2026 was $0.53, down $0.01 from second quarter 2026 and up $0.02 from third quarter 2025. Reported results include the impacts of notable items totaling $0.73 per share, or $347 million after tax, primarily related to the reclassification of targeted mortgage loans to held for sale in relation to the pending mortgage portfolio sale.
CEO Commentary
"This quarter's results are a testament to our disciplined approach and clear strategic priorities," said Bryan Jordan, Chairman, President and CEO of First Horizon Corporation. "Average client deposit balances increased $1.3 billion in the quarter, and we continue to focus on growing and maintaining full client relationships and deploying capital where it best serves long-term value creation. Looking ahead, we remain committed to executing our strategy and delivering sustainable growth and value for our clients, associates, and shareholders."
Conference Call Information
Analysts, investors and interested parties may call toll-free starting at 8:15 a.m. CT on October 15, 2026, by dialing 1-833-461-5787 (if calling from the U.S.) and entering access code 391 852 446. The conference call will begin at 8:30 a.m. CT.
Participants can also opt to listen to the live audio webcast at https://ir.firsthorizon.com/events-and-presentations/default.aspx.
A replay of the webcast will be available on our website on October 15 and will be archived on the site for one year.
Forward-Looking Statements
This document and the complete 3Q2026 earnings release to which it relates contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, with respect to FHN's beliefs, plans, goals, expectations, and estimates. Forward-looking statements are not a representation of historical information, but instead pertain to future operations, strategies, financial results, or other developments. Forward-looking statements often use words such as "believe," "expect," "anticipate," "intend," "estimate," "should," "is likely," "will," "going forward," and other similar expressions that indicate future events and trends. Forward-looking statements are necessarily based upon estimates and assumptions that are inherently subject to significant business, operational, economic, and competitive uncertainties and contingencies, many of which are beyond FHN's control, and many of which, with respect to future business decisions and actions (including acquisitions and divestitures), are subject to change and could cause FHN's actual future results and outcomes to differ materially from those contemplated or implied by forward-looking statements or historical performance. While there is no assurance that any list of uncertainties and contingencies is complete, examples of factors which could cause actual results to differ from those contemplated by forward-looking statements or historical performance include those mentioned: in this document; in Items 2.02 and 7.01 of FHN's Current Report on Form 8-K filed with the Securities and Exchange Commission on the date of this release; in the forepart, and in Items 1, 1A, and 7, of FHN's most recent Annual Report on Form 10-K; and in the forepart, and in Item 1A of Part II, of FHN's Quarterly Report(s) on Form 10-Q filed after that Annual Report. Any forward-looking statements made by or on behalf of FHN speak only as of the date they are made, and FHN assumes no obligation to update or revise any forward-looking statements that are made in this document or in any other statement, release, report, or filing from time to time. Actual results could differ and expectations could change, possibly materially, because of one or more factors, including those factors listed in this document or the documents mentioned above, and other factors not listed.
Throughout this document and the complete 3Q2026 earnings release to which it relates, numbers may not total due to rounding, references to EPS are fully diluted, and capital ratios for the most recent quarter are estimates.
Use of non-GAAP Measures and Regulatory Measures that are not GAAP
Certain measures included in this document and the complete 3Q2026 earnings release to which it relates are "non-GAAP," meaning they are not presented in accordance with generally accepted accounting principles in the U.S. and also are not codified in U.S. banking regulations currently applicable to FHN. Although other entities may use calculation methods that differ from those used by FHN for non-GAAP measures, FHN's management believes such measures are relevant to understanding the financial condition, capital position, and financial results of FHN and its business segments. Non-GAAP measures are reported to FHN's management and Board of Directors through various internal reports.
The non-GAAP measures presented in this document and the complete 3Q2026 earnings release to which it relates are fully taxable equivalent measures, pre-provision net revenue ("PPNR"), return on average tangible common equity ("ROTCE"), tangible common equity ("TCE") to tangible assets ("TA"), tangible book value ("TBV") per common share, and various consolidated and segment results and performance measures and ratios adjusted for notable items.
Presentation of regulatory measures, even those which are not GAAP, provide a meaningful base for comparability to other financial institutions subject to the same regulations as FHN, as demonstrated by their use by banking regulators in reviewing capital adequacy of financial institutions. Although not GAAP terms, these regulatory measures are not considered "non-GAAP" under U.S. financial reporting rules as long as their presentation conforms to regulatory standards. Regulatory measures used in this financial supplement include: common equity tier 1 capital ("CET1"), generally defined as common equity less goodwill, other intangibles, and certain other required regulatory deductions; tier 1 capital, generally defined as the sum of core capital (including common equity and instruments that cannot be redeemed at the option of the holder) adjusted for certain items under risk based capital regulations; and risk-weighted assets, which is a measure of total on- and off-balance sheet assets adjusted for credit and market risk, used to determine regulatory capital ratios.
Refer to the tabular reconciliation of non-GAAP to GAAP measures and presentation of the most comparable GAAP items, beginning on page 19 of FHN's complete 3Q26 earnings release available at https://ir.firsthorizon.com.
First Horizon Corp. (NYSE: FHN), with $84.3 billion in assets as of September 30, 2026, is a leading regional financial services company, dedicated to helping our clients, communities and associates unlock their full potential with capital and counsel. Headquartered in Memphis, TN, the banking subsidiary First Horizon Bank operates in 12 states concentrated in the southern U.S. The Company and its subsidiaries offer commercial, private banking, consumer, small business, wealth and trust management, retail brokerage, capital markets, fixed income, and mortgage banking services. First Horizon has been recognized as one of the nation's best employers by Fortune and Forbes magazines and a Top 10 Most Reputable U.S. Bank. More information is available at www.FirstHorizon.com.
* "Adjusted" results, along with return on tangible common equity, tangible book value per share, PPNR, ACL to loans ratio and certain other financial measures, are non-GAAP financial measures. All references to loans include leases. All references to earnings per share are based on diluted shares. NII, total revenue, NIM, and PPNR are presented on a fully taxable equivalent ("FTE") basis. Capital ratios are preliminary. Please see page 3 of our complete 3Q2026 earnings release for information on our use of non-GAAP measures and a reconciliation of these measures to GAAP beginning on page 19 of that release.
, /PRNewswire/ -- Terex Corporation (NYSE: TEX) announced that its Board of Directors declared a quarterly dividend of $0.17 per share. The dividend is to be paid on December 18, 2026 to all stockholders of record as of the close of business on November 9, 2026.
About Terex
Terex Corporation is a global leader in specialized equipment solutions, serving essential sectors such as emergency services, waste and recycling, utilities, and construction. Our diversified portfolio positions us in resilient, high-demand markets with strong long-term growth potential.
We design and manufacture advanced specialty vehicles—including fire, ambulance, and recreational vehicles—alongside waste collection vehicles, materials processing machinery, mobile elevating work platforms, and equipment for the electric utility industry. Through our global dealer, parts and service network and true value-creating digital solutions, we deliver best-in-class lifecycle support, helping customers maximize return on investment.
With a strong manufacturing footprint in the United States and operations across Europe, India, and Asia Pacific, Terex combines global reach with local expertise to capture opportunities worldwide. Our strategy is clear: exceed customer expectations, invest in innovation, leverage our diversified portfolio, and deliver consistent, profitable growth for our shareholders.
For more information, please visit www.terex.com.
Contact Information
Drew Konop, CFA
VP Investor Relations
Email: [email protected]
Společnost Vistra získala podmíněný příslib úvěru od amerického ministerstva energetiky až ve výši 4,2 miliardy USD na modernizaci tří jaderných elektráren a zvýšení jejich výkonu o 433 MW.
On Oct. 5, the U.S. Department of Energy's Office of Energy Dominance Financing announced a conditional loan commitment of up to $4.2 billion to Vistra (VST -6.51%) to add power capacity to its massive portfolio without constructing new power plants or reactors.
The loan commitment comes as hyperscalers seek reliable electricity with utility operators scrambling to add capacity. Vistra is in an enviable position with a massive power-generation fleet, and the loan will help the company build on its strong market position.
Vistra stock has drawn attention from investors looking to capitalize on the AI electricity demand boom, but it has also faced significant volatility. With its stock down 23% over the past year, is it time to buy the energy stock?
Image source: Getty Images.
Here's what Vistra plans to do with its $4 billion loan DOE funding for Vistra will help finance nuclear uprates and modernization across its massive energy fleet, focusing on three plants in the PJM Interconnection region: Beaver Valley in Pennsylvania, and Davis-Besse and Perry in Ohio.
The investment will help these reactors operate another 20 years beyond their existing licenses, add 433 megawatts of clean baseload capacity without building new reactors or new transmission corridors, and preserve nearly 4 gigawatts of existing generation that serves more than 3 million homes.
In PJM Interconnection, which serves 13 states and the District of Columbia in the Mid-Atlantic and Midwestern U.S., the 2028-2029 base residual auction recently cleared at the $325-per-megawatt-day price ceiling across all zones, raising concerns that such elevated pricing is unsustainable.
One of the biggest risks for independent power producers comes from regulators imposing price caps or other market interventions. This expanded output meets surging regional electricity demand, notably from artificial intelligence data centers, and increases capacity as residential customers push back on rising electricity rates.
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Vistra's business model captures upside from growing energy demand Vistra's strength is its independent power producer (IPP) business model. As an IPP, Vistra operates outside of the traditional regulated utility framework. Regulated utilities operate under strict government oversight and typically earn guaranteed, state-approved returns on invested capital.
In contrast, IPPs own generation assets and sell electricity directly into competitive wholesale markets or through contracts. This business model exposes Vistra to electricity price swings, allowing it to capture upside in tight energy markets but also downside if demand softens.
Vistra stands out among IPPs for its scale and power-generation assets in rapidly growing markets, including PJM Interconnection and ERCOT (Electric Reliability Council of Texas). PJM is home to "data center alley" in Virginia, while Texas is also seeing massive growth from AI data centers and chip manufacturing.
Despite a wave of data center deals this year, Vistra stock is down 27% from its all-time high stock price of nearly $220 per share last year. The stock traded at around 25 times its 2026 forecast earnings, but after the decline, it now trades at 18.5 times earnings. With earnings projected to grow 18% each of the next two years, the dip allows investors to buy Vistra stock today.
IonQ zvýšila tržby ve 2. čtvrtletí o 286,8 % na 80,05 mil. USD a celoroční výhled tržeb na 280–290 mil. USD, akcie však v poslední obchodní seanci po emisi akcií klesly o 9,53 %.
IonQ just posted record revenue and a ballooning backlog, yet the stock sits near its 52-week low after another round of dilution. Whether the SkyWater acquisition changes that math depends on guidance the company has not yet provided.
IonQ (NYSE:IONQ | IONQ Price Prediction) trades at $31.42, and the coming year will test a roadmap that leans heavily on acquisitions. The stock fell 9.53% in the latest session after IonQ announced a new equity offering.
IonQ builds trapped-ion quantum computers and also sells networking, sensing, and security products. Its acquisition of SkyWater Technology closed on July 31, 2026, which gave it its own quantum chip foundry. Still, the stock is down 59.48% over the past year, despite what management called its “fifth consecutive quarter of record results”.
Revenue Is Surging and Backlog Has Nearly Quadrupled Second-quarter revenue reached $80.05 million, up 286.8% year over year and well ahead of the $66.42 million consensus. Adjusted EPS came in at -$0.33, beating the -$0.60 estimate. Management raised full-year guidance to $280 million to $290 million, and that range does not yet include SkyWater. Remaining performance obligations, a measure of contracted future revenue, rose to $485 million from $122 million a year earlier.
Bulls also point to technical milestones. IonQ showed break-even quantum error correction and plans to begin commissioning 256-qubit systems in the first half of 2027. Wall Street largely sides with the optimists: 12 of the 14 covering analysts rate the stock Buy or Strong Buy.
Dilution and Cash Burn Give Bears Real Ammunition Each new offering spreads ownership across more shares. Stock-based compensation alone came to $141.8 million in the second quarter. Adjusted EBITDA was negative $120.3 million for the quarter, and full-year guidance calls for a loss of $330 million to $310 million. The stock trades at about 45x the midpoint of revenue guidance, and its beta of 3.361 means it tends to swing much harder than the market (a name this volatile belongs in the speculative segment of a portfolio, with sizing and exit rules, the strategy we spelled out in a free guide here).
Strong quarters have also failed to support the stock. Across five earnings beats, shares averaged a -2.46% move in the week that followed.
SkyWater Guidance Will Shape the Next 12 Months The core business is performing. IonQ held $1.24 billion in cash before the new raise. What investors still lack is visibility. Management has not issued combined guidance with SkyWater, and the partnerships with Anduril and Sandia are not included in its numbers. Combined guidance showing margin gains would strengthen the bull case. A slip in the 256-qubit timeline would strengthen the bear case.
IonQ Lags the S&P 500 While Analysts Stay Bullish At $31.42, IonQ sits well below the average analyst target of $66.63, which means about 112% upside. Analyst targets are one data point and offer no guarantee. The 14 analysts break down as follows:
Strong Buy: 1 Buy: 11 Hold: 2 Year to date, the stock is down 29.98%, while the S&P 500 is up 12.87%. Over one year, IonQ has lost 59.48% against the index’s 16.22% gain. Shares trade below their 200-day moving average, which sits at $43.20, and are approaching the 52-week low of $25.89.
Combined SkyWater Guidance Is the Next Key Catalyst Revenue growth is genuine and the backlog supports it. Still, the newest equity raise shows that the cost of that growth falls partly on shareholders. Over the next two quarters, the key data point is combined IonQ and SkyWater guidance. Investors need to see whether foundry revenue and vertical integration narrow the EBITDA loss.
Each quarter, three things matter: growth in performance obligations, the trend in adjusted EBITDA, and whether management keeps the first half of 2027 target for 256-qubit commissioning. If all three hold up, the stock could re-rate toward analyst targets. Further dilution remains a risk in a stock with a beta above 3.
IonQ’s growth deserves attention, and the combined guidance that will clarify its path is still a few months away.
Contact [email protected] for any questions or corrections.
Though the technology is still in its early days, advancements in quantum computing are starting to pick up steam. Microsoft unveiled a new quantum chip in June and says it expects to build a scalable quantum computer by 2029. IBM is also working on a large-scale quantum computer, Quantum Starling, and plans to unveil it in 2029. Not to be left out, Alphabet and Amazon are also working on quantum chips.
Outside those tech giants, however, sit a number of much smaller pure-play quantum computing companies that investors may find intriguing.
One of these is IonQ (IONQ -9.53%). Founded in 2015, it focuses entirely on quantum-related areas, including computing, networking, and security.
The stock hasn't performed well over the last 12 months, however, having dropped 57% as of this writing -- dropping its market cap to just $13.8 billion -- while the S&P 500 rose 17% over the same period. Also, with a beta of 3.3, the IonQ stock price generally experiences swings that are 3.3 times as large as the broader market.
That said, based on analysts' one-year forecasts, by October 2027, the stock's trend line could have quite the reversal from the declines it has experienced over the past 12 months.
Image source: The Motley Fool.
The outlook for the IonQ stock price
Analysts have a generally favorable opinion of the stock. According to CNN, of the 16 who cover it, 13 rate it as a buy, while three rate it as a hold. From that group, the median one-year price target is $65. On Oct. 13, its opening price was $35.82, so if it hits that target, a $10,000 investment will be worth approximately $18,146.
Looking at some other scenarios, the highest price target among those analysts is $100, which would turn $10,000 into $27,917. And even hitting the lowest price target of $49 would grow a $10,000 investment into a position worth about $13,679.
Premium Feature
Moneyball Superscore
62/100
Today's Change
(
-9.53
%) $
-3.31
Current Price
$
31.42
Investment considerations
Price targets, of course, aren't perfect predictions. All of those analysts could be wrong, and one year from now, IonQ's stock price could be flat or lower than it is today. What those targets do offer, however, is a sentiment gauge that investors can use to help establish a risk-to-reward framework as a part of their decision-making process.
Quantum computing may still be a few years away from being ready for more mainstream adoption in the business world, but the fact that big tech players like Alphabet, Amazon, IBM, and Microsoft have all gotten involved in the space shows that it has the potential to be more than a niche market. IonQ is currently seeing some of that momentum in its earnings results. In the second quarter, it reported $80.1 million in revenue, a 287% increase compared to the prior-year period. In that quarterly report, it also announced it was boosting its full-year revenue guidance from a $260 million to $270 million range to a $280 million to $290 million range.
IonQ, however, is still not profitable, and its losses are growing rapidly. In the second quarter, it lost $1.8 billion compared to a loss of $177.5 million in the prior-year period. Also, while IonQ has a technological lead over its rivals by one key measure, its quantum computers are not truly ready for commercialization yet. Because of this, its stock price may continue to experience volatile swings over the next several years as it develops and refines its systems.
Given the stock's upside potential, I would still feel comfortable investing in IonQ, but only with a small, speculative stake to start.
PNC ve 3. čtvrtletí vykázala čistý zisk ve výši 2,097 miliardy USD a upravený zředěný zisk na akcii ve výši 5,09 USD. Čistý úrokový výnos mezikvartálně vzrostl o 2 %.
Grew average loans and deposits; increased NII and reduced expenses; 57% efficiency ratio PITTSBURGH, Oct 15, 2026 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) today reported: For the quarter In millions, except per share data and as noted 3Q26 2Q26 3Q25 Third Quarter Highlights Financial Results Comparisons reflect 3Q26 vs. 2Q26 Net interest income (NII) $ 4,206 $ 4,107 $ 3,648 Income Statement Adjusted diluted EPS of $5.09 increased $0.24 Excludes integration costs and significant items from both periods PPNR increased 1% Generated 18.3% ROTCE NII increased 2%; NIM of 2.94% Fee income decreased 6% primarily due to elevated 2Q26 capital markets activity Other noninterest income was $214 million, decreasing $275 million drivenby 2Q26 significant items Noninterest expense declined 8%, or 3%, as adjusted Efficiency ratio improved to 57% Balance Sheet Average loans increased $9.0 billion, or 2%, reflecting new production and higher utilization Transferred $1.4 billion student loan portfolio to held-for-sale Average deposits increased 1%; spot deposits increased 4% Average investment securities increased 3% Net loan charge-offs were $257 million, including $35 million related to the student loan portfolio transfer AOCI of negative $6.5 billion in 3Q26, compared to negative $4.1 billion in 2Q26 Maintained strong capital position CET1 capital ratio of 9.8% $0.8 billion of common dividends $0.6 billion of share repurchases Fee income (non-GAAP) 2,142 2,279 2,069 Other noninterest income 214 489 198 Noninterest income 2,356 2,768 2,267 Revenue 6,562 6,875 5,915 Noninterest expense 3,751 4,098 3,461 Integration costs and significant items 27 261 — Noninterest expense - as adjusted (non-GAAP) 3,724 3,837 3,461 Pretax, pre-provision earnings (PPNR) (non-GAAP) 2,811 2,777 2,454 Provision for credit losses 189 191 167 Net income 2,097 2,055 1,822 Per Common Share Diluted earnings per share (EPS) $ 4.97 $ 4.81 $ 4.35 EPS impact of integration costs and significant items 0.12 0.04 Diluted EPS - as adjusted (non-GAAP) 5.09 4.85 Average diluted common shares outstanding 401 403 396 Book value 142.17 145.52 135.67 Tangible book value (TBV) (non-GAAP) 107.64 111.09 107.84 Balance Sheet & Credit Quality Average loans In billions $ 372.2 $ 363.2 $ 325.9 Average securities In billions 151.4 147.1 144.4 Average deposits In billions 461.2 457.0 431.8 Accumulated other comprehensive income (loss) (AOCI) In billions (6.5) (4.1) (4.1) Net loan charge-offs 257 226 179 Allowance for credit losses to total loans 1.42 % 1.48 % 1.61 % Selected Ratios Return on average common shareholders' equity 13.89 % 13.61 % 13.24 % Return on avg.
CMC ve fiskálním roce 2026 zvýšila čistý zisk na 655,8 milionu USD z 84,7 milionu USD o rok dříve; EBITDA očištěná o jednorázové vlivy vzrostla na 1,4 miliardy USD.
Fiscal 2026 net earnings of $655.8 million. Consolidated core EBITDA increased to $1.4 billion, from $837.3 million in fiscal 2025. Core EBITDA margin increased by 380 basis points to 14.5%. Fourth quarter net earnings of $212.5 million, or $1.91 per diluted share, and adjusted earnings of $233.6 million, or $2.09 per diluted share Fourth quarter consolidated core EBITDA increased 35.1% year-over-year to $393.7 million and core EBITDA margin increased by 100 basis points to 14.8% Improved results were driven by strong growth in the North America Steel Group, the inclusion of the acquired precast operations, and benefits from Transform, Advance, Grow ("TAG") initiatives Precast integration on track Reduced net leverage adjusted for acquisitions1 to below 2x target , /PRNewswire/ -- CMC (NYSE: CMC) (the "Company") today announced financial results for its fiscal fourth quarter and fiscal year ended August 31, 2026.
CEO Commentary
"Fiscal 2026 marked a transformational step forward for CMC. We continued to build organizational strength and enhance margin durability in our early-stage construction portfolio through our precast acquisitions, our successful TAG program, and our key growth investments, including our West Virginia micro mill. We also established a clear roadmap to fiscal 2029, setting ambitious and achievable targets with a focus on delivering long-term shareholder value," said Peter Matt, President and Chief Executive Officer. "Our fourth quarter core EBITDA performance delivered solid year-over-year growth, driven by strong execution of our North American steel franchise and continued momentum of enterprise-wide TAG benefits. While broader demand conditions remain supportive, residential softness weighed on precast results in the period. With backlogs near record levels, a differentiated portfolio of solutions, and multiple value creation levers, we are well-positioned to deliver strong financial results and achieve our strategic goals in fiscal 2027."
Fourth Quarter Operational and Financial Highlights
Three Months Ended
(in thousands, except per share data)
8/31/2026
5/31/2026
8/31/2025
QoQ Change
YoY Change
Net sales
$ 2,658,334
$ 2,483,245
$ 2,114,518
7.1 %
25.7 %
Net earnings
$ 212,520
$ 173,015
$ 151,781
22.8 %
40.0 %
Core EBITDA
$ 393,658
$ 353,596
$ 291,441
11.3 %
35.1 %
Core EBITDA margin
14.8 %
14.2 %
13.8 %
60bps
100bps
Net earnings per diluted share
$ 1.91
$ 1.55
$ 1.35
23.2 %
41.5 %
Adjusted earnings
$ 233,590
$ 193,025
$ 154,965
21.0 %
50.7 %
Adjusted earnings per diluted share
$ 2.09
$ 1.73
$ 1.37
20.8 %
52.6 %
For the fourth quarter of fiscal 2026, the Company reported consolidated net earnings of $212.5 million or $1.91 per diluted share, up from $1.35 in the prior year period, due in part to a lower effective tax rate. Adjusted earnings were $233.6 million, or $2.09 per diluted share, an increase of 52.6% on a per-share basis versus the comparable prior year period.
Consolidated core EBITDA for the fiscal fourth quarter increased 35.1% year-over-year to $393.7 million, while core EBITDA margins expanded 100 basis points to 14.8%, driven by metal margin expansion and the inclusion of the higher-margin precast business. Relative to the fiscal third quarter, 11.3% core EBITDA growth was led by the North America Steel Group, where stronger margins and volume growth drove 60 basis points of core EBITDA margin expansion.
Business Segments - Fiscal Fourth Quarter 2026 Review
North America Steel Group
Fourth quarter North America Steel Group adjusted EBITDA increased 32.6% year-over-year to $317.5 million, while adjusted EBITDA margin increased to 16.4%, up from 14.8% in the prior year period. Segment performance reflects a combination of higher average selling price for steel products, merchant bar-led volume growth, and ongoing benefits from the Company's TAG program.
Compared with the prior year period, metal margins increased $84 per ton to $652. Sequentially, metal margins improved by $42 per ton, driven primarily by a $32 per ton increase in average selling price while scrap costs declined $10 per ton. Sequential pricing growth reflects a balanced supply-demand environment, continued momentum in rebar and MBQ pricing, and ongoing commercial discipline.
Finished goods shipment volumes for the North America Steel Group increased 5.3% versus the prior year period. Merchant bar shipment volumes surged 27.5% year-over-year, and 16.0% sequentially, driven by continued strength in industrial applications, including data center-related activity, as well as our expanded merchant bar production capabilities at the Arizona 2 micro mill. Taken together, rebar and downstream product shipment volumes were essentially flat year-over-year and up 4.4% sequentially, reflecting our commercial discipline as well as our differentiated capabilities that position us well to meet the complexity associated with large-scale megaproject demand.
Market conditions remain solid, with demand strength across the energy build-out, semiconductor manufacturing, industrial manufacturing, and key public infrastructure markets. These conditions have contributed to a healthy and growing backlog, with downstream backlog volumes increasing 5.0% sequentially and 15.5% year-over-year. Similarly, backlog pricing continues to trend higher, reflecting disciplined execution, healthy demand, and our differentiated market position across core end markets.
Construction Solutions Group
Construction Solutions Group ("CSG") fourth quarter net sales increased 94.5% to $431.4 million and adjusted EBITDA of $101.7 million was up 100.9% year-over-year. Adjusted EBITDA margin of 23.6% was up 80 basis points relative to the prior year period. In the period, precast sales and adjusted EBITDA were $190.8 million and $57.0 million, respectively. Precast adjusted EBITDA fell below management's prior expectations, primarily due to regional residential softness, which reduced volumes and created regional margin mix headwinds. Precast shipments decreased year-over-year with weakness in the Southeast that more than offset strong shipment growth in the Mid-Atlantic. Underlying precast demand remains healthy, with strong momentum in non-residential and infrastructure end markets. In the fourth quarter, bookings were up year-over-year and up 12.6% sequentially. Backlog increased roughly 3% from the prior year and nearly 4% from the fiscal third quarter, and average selling price continued to move higher, reflecting solid market fundamentals. These indicators reinforce our confidence in the outlook for the precast business and its ability to deliver higher growth, greater earnings stability, and stronger returns for CMC in 2027.
Tensar delivered results that were largely consistent with both the prior quarter and the year-ago period, capping off a strong fiscal 2026 in which profitability increased approximately 50%. Performance was driven by favorable construction activity across several key end markets, including data centers, energy, and infrastructure. Construction Services and Impact Metals also delivered strong revenue and adjusted EBITDA growth year on year. Performance Reinforcing Steel's results were lower due to a significant unplanned outage at Galvabar that impacted shipments during the quarter. Encouragingly, bookings, backlogs and pricing trends for that business remain strong, and the operational flexibility coming from the second Galvabar line, which will be commissioned later in calendar 2026, will further enhance our ability to serve demand and support future growth.
Europe Steel Group
For the fourth quarter, Europe Steel Group generated adjusted EBITDA of $15.6 million, versus $39.1 million in the prior year period, with the year-over-year comparison impacted by a $30.7 million CO₂ credit recognized in the prior year, while no credit was recognized in the current period. Metal margin expanded by $32 per ton year-over-year as average selling price increased $44 per ton and outpaced scrap costs, which increased $12 per ton over the same period. Finished goods shipment volumes for the Europe Steel Group increased 0.8% as lower rebar volumes were more than offset by strong growth in merchant bar and wire rod. Improved trade policies via the EU Carbon Border Adjustment Mechanism ("CBAM") as well as the tariff-rate quota ("TRQ") system implemented July 1, 2026 are supporting a more constructive operating environment. Combined with gradually improving end-market demand trends, these developments reinforce our confidence in a return to mid-cycle performance levels.
Balance Sheet & Capital Allocation
As of August 31, 2026, cash, cash equivalents and restricted cash totaled $778.9 million and available liquidity was over $2.0 billion. Net leverage adjusted for acquisitions ended the quarter at 1.9x reflecting strong cash generation and balance sheet discipline.
During the quarter, CMC repurchased 383,333 shares of common stock valued at $26.7 million in the aggregate. As of August 31, 2026, $702.1 million remained available under the current share repurchase authorization.
On October 13, 2026, the board of directors declared a quarterly dividend of $0.20 per share of CMC common stock payable to stockholders of record on October 28, 2026. The dividend, to be paid on November 11, 2026, will mark the 248th consecutive quarterly payment by the Company.
Outlook
Mr. Matt added, "We expect fiscal 2027 will be another strong year for CMC, supported by a healthy and balanced market backdrop and the growing contribution from our value creation levers, including TAG, our growth investments, and an evolving early-stage construction portfolio. Our focus remains on delivering profitable growth, improving free cash flow generation, enhancing shareholder returns, and, above all, continuing to advance our strategic agenda for a stronger CMC."
For the first quarter of fiscal 2027, we continue to expect healthy operating performance across the portfolio with normal seasonal factors and input cost dynamics to impact results sequentially:
For the North America Steel Group, improved pricing is expected to largely offset higher scrap costs, startup expenses, and a slight seasonal decline in shipments, resulting in adjusted EBITDA that is expected to be nearly flat in comparison to the fourth quarter. Within the Construction Solutions Group, adjusted EBITDA is expected to be down sequentially reflecting typical seasonal trends impacting the end market activity of this segment. Meaningful sequential growth in adjusted EBITDA is anticipated for the Europe Steel Group with the first quarter benefiting from improving operating conditions and a CO2 credit. Conference Call
CMC invites you to listen to a live broadcast of its fourth quarter fiscal 2026 conference call today, Thursday, October 15, 2026 at 11:00 a.m. ET. Peter Matt, President and Chief Executive Officer, and Paul Lawrence, Senior Vice President and Chief Financial Officer, will host the call. The call is accessible via our website at www.cmc.com. In the event you are unable to listen to the live broadcast, the call will be archived and available for replay on our website on the next business day. Financial and statistical information presented in the broadcast are located on CMC's website under "Investors."
About CMC
CMC is a Fortune 500® company headquartered in Irving, Texas, and a leading provider of early-stage construction solutions that support the foundational phases of modern infrastructure and building projects. Founded in 1915, CMC has grown from a single-site recycling operation to one of the largest U.S. manufacturers of steel reinforcing bar ("rebar"), a leading producer of subgrade soil stabilization and foundation enhancement solutions and a major supplier of concrete pipe and precast products.
Through an extensive manufacturing network primarily located in the United States and Central Europe, with strategic operations in the United Kingdom, Europe and Asia, CMC serves infrastructure, non-residential, residential, industrial and energy markets. While often unseen, CMC's products are essential to highways, bridges, airports, commercial buildings and other critical structures that support everyday life.
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of the federal securities laws with respect to the expected performance of our recently acquired precast platform, general economic conditions, key macro-economic drivers that impact our business, the effects of ongoing trade actions, the effects of continued pressure on the liquidity of our customers, potential synergies and growth provided by acquisitions and strategic investments, demand for our products, shipment volumes, metal margins, backlog volumes, the ability to operate our steel mills at full capacity, particularly during periods of domestic mill start-ups, the future availability and cost of supplies of raw materials and energy for our operations, growth rates in certain reportable segments, product margins within our Construction Solutions Group segment, share repurchases, legal proceedings, construction activity, international trade, the impact of geopolitical conditions, the effects of CBAM and other EU trade measures on European demand and pricing, capital expenditures, tax credits, the timing, amount and recurrence of CO2 or emissions-related credits, our liquidity and our ability to satisfy future liquidity requirements, our ability to achieve our stated deleveraging target within the anticipated timeframe, estimated contractual obligations, the expected capabilities and benefits of new facilities, the anticipated benefits and timeline for execution of our growth plan and initiatives, including our TAG operational and commercial excellence program, and our expectations or beliefs concerning future events. The statements in this release that are not historical statements are forward-looking statements. These forward-looking statements can generally be identified by phrases such as we or our management "expects," "anticipates," "believes," "estimates," "intends," "may," "plans to," "ought," "could," "will," "should," "likely," "appears," "projects," "forecasts," "outlook" or other similar words or phrases, as well as by discussions of strategy, plans or intentions.
The Company's forward-looking statements are based on management's expectations and beliefs as of the date this news release. Although we believe that our expectations are reasonable, we can give no assurance that these expectations will prove to have been correct, and actual results may vary materially. Except as required by law, we undertake no obligation to update, amend or clarify any forward-looking statements to reflect changed assumptions, the occurrence of anticipated or unanticipated events, new information or circumstances or any other changes. Important factors that could cause actual results to differ materially from our expectations include those described in our filings with the U.S. Securities and Exchange Commission, including, but not limited to, in Part I, Item 1A, "Risk Factors" of our annual report on Form 10-K for the fiscal year ended August 31, 2025, as well as the following: changes in economic conditions which affect demand for our products or construction activity generally, and the impact of such changes on the highly cyclical steel industry; rapid and significant changes in the price of metals, potentially impairing our inventory values due to declines in commodity prices or reducing the profitability of downstream contracts within our vertically integrated steel operations due to rising commodity pricing; excess capacity in our industry, particularly in China, and product availability from competing steel mills and other steel suppliers including import quantities and pricing; the impact of additional steelmaking capacity expected to come online from a number of ongoing electric arc furnace projects in the U.S.; the impact of geopolitical conditions, including political turmoil and volatility, regional conflicts, terrorism and war on the global economy, inflation, energy supplies and raw materials; global factors, such as trade measures, military conflicts and political uncertainties, including changes to current trade regulations, such as Section 232 trade tariffs and quotas, tax legislation and other regulations which might adversely impact our business; operating and startup risks, as well as market risks associated with the commissioning of new projects could prevent us from realizing anticipated benefits and could result in a loss of all or a substantial part of our investments; our ability to successfully execute our TAG operational and commercial excellence program and other transformation initiatives, including the realization of anticipated benefits within the expected timeframes; attention to environmental, social and governance ("ESG") matters, including any targets or other ESG, environmental justice or regulatory initiatives; impacts from global public health crises on the economy, demand for our products, global supply chain and on our operations; compliance with and changes in existing and future laws, regulations and other legal requirements and judicial decisions that govern our business, including increased environmental regulations associated with climate change and greenhouse gas emissions; involvement in various environmental matters that may result in fines, penalties or judgments; evolving remediation technology, changing regulations, possible third-party contributions, the inherent uncertainties of the estimation process and other factors that may impact amounts accrued for environmental liabilities; potential limitations in our or our customers' abilities to access credit and non-compliance with their contractual obligations, including payment obligations; activity in repurchasing shares of our common stock under our share repurchase program; financial and non-financial covenants and restrictions on the operation of our business contained in agreements governing our debt; our ability to successfully identify, consummate and integrate acquisitions and realize any or all of the anticipated synergies or other benefits of acquisitions; the effects that acquisitions may have on our financial leverage; risks associated with acquisitions generally, such as the inability to obtain, or delays in obtaining, required approvals under applicable antitrust legislation and other regulatory and third-party consents and approvals; lower than expected future levels of revenues and higher than expected future costs; failure or inability to implement growth strategies in a timely manner; the impact of goodwill or other indefinite-lived intangible asset impairment charges; the impact of long-lived asset impairment charges; currency fluctuations; availability and pricing of electricity, electrodes and natural gas for mill operations; our ability to hire and retain key executives and other employees; competition from other materials or from competitors that have a lower cost structure or access to greater financial resources; information technology interruptions and breaches in security; our ability to make necessary capital expenditures; availability and pricing of raw materials and other items over which we exert little influence, including scrap metal, energy and insurance; unexpected equipment failures; losses or limited potential gains due to hedging transactions; litigation claims and settlements, court decisions, regulatory rulings and legal compliance risks, including those related to the Pacific Steel Group litigation and other legal proceedings; risk of injury or death to employees, customers or other visitors to our operations; and civil unrest, protests and riots.
1 Net leverage adjusted for acquisitions is a non-GAAP financial measure and is defined as net debt divided by modified consolidated EBITDA, both of which are also non-GAAP financial measures. Net debt is calculated as total debt minus cash and cash equivalents. Modified consolidated EBITDA is calculated as adjusted EBITDA for the trailing 12-month period, adjusted to (a) eliminate the impact of approximately $15.4 million of interest expense related to the judgment in the Pacific Steel Group litigation, (b) eliminate actual results from the precast business since the respective acquisition dates and (c) include $212 million of annualized EBITDA contribution from the precast business. Reconciliations to the most directly comparable measures prepared and presented in accordance with GAAP can be found in the financial tables that follow.
COMMERCIAL METALS COMPANY AND SUBSIDIARIES
FINANCIAL & OPERATING STATISTICS (UNAUDITED)
Three Months Ended
Year Ended
(in thousands, except per ton amounts)
8/31/2026
5/31/2026
2/28/2026
11/30/2025
8/31/2025
8/31/2026
8/31/2025
North America Steel Group
Net sales to external customers
$ 1,939,404
$ 1,789,381
$ 1,608,321
$ 1,661,058
$ 1,616,078
$ 6,998,164
$ 6,083,849
Adjusted EBITDA
317,473
253,487
269,674
293,906
239,416
1,134,540
742,485
Adjusted EBITDA margin
16.4 %
14.2 %
16.8 %
17.7 %
14.8 %
16.2 %
12.2 %
External tons shipped
Raw materials
460
482
358
384
374
1,684
1,410
Rebar
507
482
481
544
544
2,014
2,130
Merchant bar and other
311
268
235
251
244
1,065
992
Steel products
818
750
716
795
788
3,079
3,122
Downstream products
397
384
335
350
366
1,466
1,375
Average selling price per ton
Raw materials
$ 981
$ 873
$ 985
$ 900
$ 881
$ 935
$ 876
Steel products
1,021
989
974
939
882
981
842
Downstream products
1,288
1,260
1,242
1,236
1,214
1,258
1,226
Cost of raw materials per ton
$ 754
$ 660
$ 741
$ 648
$ 649
$ 701
$ 661
Cost of ferrous scrap utilized per ton
$ 369
$ 379
$ 351
$ 318
$ 314
$ 354
$ 333
Steel products metal margin per ton
$ 652
$ 610
$ 623
$ 621
$ 568
$ 627
$ 509
Construction Solutions Group
Net sales to external customers
$ 431,375
$ 394,574
$ 314,425
$ 198,277
$ 221,753
$ 1,338,651
$ 747,486
Adjusted EBITDA
101,725
97,411
53,420
39,581
50,630
292,137
137,721
Adjusted EBITDA margin
23.6 %
24.7 %
17.0 %
20.0 %
22.8 %
21.8 %
18.4 %
Europe Steel Group
Net sales to external customers
$ 281,222
$ 291,235
$ 200,014
$ 247,650
$ 263,294
$ 1,020,121
$ 918,320
Adjusted EBITDA
15,586
34,665
(1,428)
10,929
39,098
59,752
69,282
Adjusted EBITDA margin
5.5 %
11.9 %
(0.7) %
4.4 %
14.8 %
5.9 %
7.5 %
External tons shipped
Rebar
106
136
69
119
117
430
412
Merchant bar and other
271
265
215
243
257
994
944
Steel products
377
401
284
362
374
1,424
1,356
Average selling price per ton
Steel products
$ 712
$ 697
$ 672
$ 651
$ 668
$ 684
$ 647
Cost of ferrous scrap utilized per ton
$ 363
$ 367
$ 356
$ 345
$ 351
$ 359
$ 357
Steel products metal margin per ton
$ 349
$ 330
$ 316
$ 306
$ 317
$ 325
$ 290
COMMERCIAL METALS COMPANY AND SUBSIDIARIES
BUSINESS SEGMENTS (UNAUDITED)
Three Months Ended
Year Ended
(in thousands)
8/31/2026
5/31/2026
2/28/2026
11/30/2025
8/31/2025
8/31/2026
8/31/2025
Net sales to external customers
North America Steel Group
$ 1,939,404
$ 1,789,381
$ 1,608,321
$ 1,661,058
$ 1,616,078
$ 6,998,164
$ 6,083,849
Construction Solutions Group
431,375
394,574
314,425
198,277
221,753
1,338,651
747,486
Europe Steel Group
281,222
291,235
200,014
247,650
263,294
1,020,121
918,320
Corporate and Other
6,333
8,055
9,258
13,322
13,393
36,968
48,825
Total net sales to external customers
$ 2,658,334
$ 2,483,245
$ 2,132,018
$ 2,120,307
$ 2,114,518
$ 9,393,904
$ 7,798,480
Adjusted EBITDA
North America Steel Group
$ 317,473
$ 253,487
$ 269,674
$ 293,906
$ 239,416
$ 1,134,540
$ 742,485
Construction Solutions Group
101,725
97,411
53,420
39,581
50,630
292,137
137,721
Europe Steel Group
15,586
34,665
(1,428)
10,929
39,098
59,752
69,282
Corporate and Other
(52,356)
(49,654)
(70,410)
(55,848)
(50,716)
(228,268)
(508,765)
Total adjusted EBITDA
$ 382,428
$ 335,909
$ 251,256
$ 288,568
$ 278,428
$ 1,258,161
$ 440,723
COMMERCIAL METALS COMPANY AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF EARNINGS (UNAUDITED)
Three Months Ended August 31,
Year Ended August 31,
(in thousands, except share and per share data)
2026
2025
2026
2025
Net sales
$ 2,658,334
$ 2,114,518
$ 9,393,904
$ 7,798,480
Costs and operating expenses:
Cost of goods sold
2,156,827
1,721,710
7,642,218
6,578,324
Selling, general and administrative expenses
230,857
180,218
881,961
700,234
Interest expense
37,356
12,145
143,337
45,498
Litigation expense
3,776
3,776
15,356
362,272
Asset impairments
21
3,436
21
4,607
Net costs and operating expenses
2,428,837
1,921,285
8,682,893
7,690,935
Earnings before income taxes
229,497
193,233
711,011
107,545
Income tax expense
16,977
41,452
55,162
22,883
Net earnings
$ 212,520
$ 151,781
$ 655,849
$ 84,662
Earnings per share:
Basic
$ 1.92
$ 1.36
$ 5.92
$ 0.75
Diluted
1.91
1.35
5.86
0.74
Cash dividends per share
$ 0.20
$ 0.18
$ 0.76
$ 0.72
Average basic shares outstanding
110,570,463
111,677,574
110,857,469
112,994,381
Average diluted shares outstanding
111,542,800
112,705,122
111,864,867
114,086,750
COMMERCIAL METALS COMPANY AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS (UNAUDITED)
(in thousands, except share and per share data)
August 31, 2026
August 31, 2025
Assets
Current assets:
Cash and cash equivalents
$ 775,676
$ 1,043,252
Restricted cash
3,174
2,652
Accounts receivable (less allowance for doubtful accounts of $3,867 and $3,186)
1,440,260
1,200,881
Income tax receivable
131,557
799
Inventories
1,104,719
934,310
Prepaid and other current assets
352,441
312,924
Total current assets
3,807,827
3,494,818
Property, plant and equipment:
Land
246,300
170,823
Buildings and improvements
1,626,950
1,206,672
Equipment
4,172,111
3,477,813
Construction in process
188,637
449,616
6,233,998
5,304,924
Less accumulated depreciation and amortization
(2,780,284)
(2,562,151)
Property, plant and equipment, net
3,453,714
2,742,773
Intangible assets, net
431,681
210,815
Goodwill
2,138,616
386,846
Other noncurrent assets
426,059
336,582
Total assets
$ 10,257,897
$ 7,171,834
Liabilities and stockholders' equity
Current liabilities:
Accounts payable
$ 540,901
$ 358,373
Accrued contingent litigation-related loss
377,251
362,272
Other accrued expenses and payables
642,946
493,879
Current maturities of long-term debt
67,147
44,289
Total current liabilities
1,628,245
1,258,813
Deferred income taxes
354,298
184,645
Other noncurrent liabilities
264,420
225,044
Long-term debt
3,313,728
1,310,006
Total liabilities
5,560,691
2,978,508
Stockholders' equity:
Common stock, par value $0.01 per share; authorized 200,000,000 shares; issued 129,060,664 shares; outstanding 110,316,995 and 111,189,136 shares
1,290
1,290
Additional paid-in capital
423,334
406,916
Accumulated other comprehensive loss
(29,175)
(25,251)
Retained earnings
5,078,714
4,507,114
Less treasury stock, 18,743,669 and 17,871,528 shares at cost
(777,231)
(697,003)
Stockholders' equity
4,696,932
4,193,066
Stockholders' equity attributable to non-controlling interests
274
260
Total stockholders' equity
4,697,206
4,193,326
Total liabilities and stockholders' equity
$ 10,257,897
$ 7,171,834
COMMERCIAL METALS COMPANY AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
Year Ended August 31,
(in thousands)
2026
2025
Cash flows from (used by) operating activities:
Net earnings
$ 655,849
$ 84,662
Adjustments to reconcile net earnings to net cash flows from operating activities:
Depreciation and amortization
395,921
285,877
Stock-based compensation
43,932
37,053
Write-off of committed financing fees
11,563
—
Deferred income taxes and other long-term taxes
158,351
(98,304)
Write-down of inventory
333
2,473
Unrealized loss (gain) on undesignated commodity hedges
7,871
(2,804)
Unrealized loss (gain) on undesignated foreign exchange hedges
5,091
(5,453)
Amortization of debt issuance costs
4,812
1,529
Asset impairments
21
4,607
Net loss (gain) on sale of net assets
(741)
1,827
Litigation expense
15,356
362,272
Settlement of New Markets Tax Credit transaction
—
(2,786)
Other
2,110
5,568
Changes in operating assets and liabilities
(241,506)
38,549
Net cash flows from operating activities
1,058,963
715,070
Cash flows from (used by) investing activities:
Acquisitions, net of cash acquired
(2,516,424)
—
Capital expenditures
(579,844)
(402,821)
Proceeds from government assistance related to property, plant and equipment
15,000
50,000
Proceeds from the sale of property, plant and equipment
11,250
5,758
Proceeds from insurance
9,602
2,237
Other
(1,698)
(1,946)
Net cash flows used by investing activities
(3,062,114)
(346,772)
Cash flows from (used by) financing activities:
Proceeds from issuance of long-term debt, net
1,985,000
147,724
Repayments of long-term debt
(47,689)
(41,480)
Debt issuance costs
(8,489)
(622)
Committed financing fees
(11,563)
—
Proceeds from accounts receivable facilities
173,257
35,979
Repayments under accounts receivable facilities
(164,328)
(35,979)
Treasury stock acquired
(102,811)
(198,822)
Tax withholdings related to share settlements, net of purchase plans
(3,111)
(8,823)
Dividends
(84,249)
(81,433)
Contribution from non-controlling interest
14
12
Net cash flows from (used by) financing activities
1,736,031
(183,444)
Effect of exchange rate changes on cash
66
1,495
Increase (decrease) in cash and cash equivalents
(267,054)
186,349
Cash, restricted cash and cash equivalents at beginning of period
1,045,904
859,555
Cash, restricted cash and cash equivalents at end of period
$ 778,850
$ 1,045,904
COMMERCIAL METALS COMPANY
NON-GAAP FINANCIAL MEASURES (UNAUDITED)
This press release contains financial measures not derived in accordance with U.S. generally accepted accounting principles ("GAAP"). Reconciliations to the most comparable GAAP measure are provided below.
Adjusted EBITDA, core EBITDA, core EBITDA margin and adjusted earnings are non-GAAP financial measures. Adjusted earnings per diluted share is defined as adjusted earnings on a diluted per share basis. Core EBITDA margin is defined as core EBITDA divided by net sales. The adjustment "Settlement of New Markets Tax Credit transactions" represents the recognition of deferred revenue from 2016 and 2017 resulting from the Company's participation in the New Markets Tax Credit program provided for in the Community Renewal Tax Relief Act of 2000 during the development of a micro mill, spooler and T-post shop located in eligible zones as determined by the Internal Revenue Service. The adjustment "Litigation expense" represents a provision recorded in the three months ended November 30, 2024 related to the judgment in the Pacific Steel Group litigation and, with respect to subsequent periods, primarily represents interest expense on the judgment amount. The adjustments "Acquisition and integration related costs" and "Acquisition, integration and financing related costs" represent nonrecurring fees associated with the Foley Products Company, LLC ("Foley") and Concrete Pipe and Precast, LLC ("CP&P") acquisitions. The adjustment "Purchase accounting effect on inventory" represents a one time fair value adjustment on inventory associated with the Foley and CP&P acquisitions. The adjustment "Amortization of acquired contract backlog" represents the amortization of the contract backlog intangible asset from the Foley and CP&P acquisitions.
Net leverage adjusted for acquisitions is a non-GAAP financial measure and is defined as net debt divided by modified consolidated EBITDA, both of which are also non-GAAP financial measures. Net debt is calculated as total debt minus cash and cash equivalents. Modified consolidated EBITDA is calculated as adjusted EBITDA for the trailing 12-month period, adjusted to (a) eliminate the impact of approximately $15.4 million of interest expense related to the judgment in the Pacific Steel Group litigation, (b) eliminate actual results from the precast business since the respective acquisition dates and (c) include $212 million of annualized EBITDA contribution from the precast business. The estimated annualized EBITDA contribution from the precast business was derived by annualizing the precast business's actual results from the respective acquisition dates through August 31, 2026. The calculation also excludes the impact of the purchase accounting effect on inventory. The annualized figure assumes that the precast platform's results for the post-acquisition period are representative of a full fiscal year. The figure does not reflect actual results the precast platform generated or will generate in any 12-month period, and it was not prepared in accordance with Article 11 of Regulation S-X. Results for future periods may differ materially.
Non-GAAP financial measures should be viewed in addition to, and not as alternatives to, the most directly comparable measures derived in accordance with GAAP and may not be comparable to similar measures presented by other companies. However, we believe that the non-GAAP financial measures provide relevant and useful information to management, investors, analysts, creditors and other interested parties in our industry as they allow: (i) comparison of our earnings to those of our competitors; (ii) a supplemental measure of our underlying business operational performance; and (iii) the assessment of period-to-period performance trends. Furthermore, management believes net leverage adjusted for acquisitions provide useful information to investors, analysts, creditors and other interested parties about the Company's financial condition. Management uses non-GAAP financial measures to evaluate financial performance and, more specifically, uses net leverage adjusted for acquisitions to monitor the Company's balance sheet and make capital allocation decisions. We have not reconciled the forward-looking estimates of TAG-related EBITDA benefits to comparable GAAP measures because applicable information for future periods, on which these reconciliations would be based, is not readily available due to uncertainty regarding, and the potential variability of metal margins, U.S. trade policy, cost levels of key production inputs, construction activity and related product demand and other factors. Accordingly, reconciliations of the forward-looking estimates of TAG-related EBITDA benefits to net earnings are not available at this time without unreasonable effort.
A reconciliation of net earnings to adjusted EBITDA and core EBITDA is provided below:
Three Months Ended
Year Ended
(in thousands)
8/31/2026
5/31/2026
2/28/2026
11/30/2025
8/31/2025
8/31/2026
8/31/2025
Net earnings
$ 212,520
$ 173,015
$ 93,032
$ 177,282
$ 151,781
$ 655,849
$ 84,662
Interest expense
37,356
40,205
40,928
24,848
12,145
143,337
45,498
Income tax expense
16,977
15,824
16,708
5,653
41,452
55,162
22,883
Depreciation and amortization
113,210
107,422
102,567
72,722
72,480
395,921
285,877
Asset impairments
21
—
—
—
3,436
21
4,607
Unrealized (gain) loss on undesignated commodity hedges
2,344
(557)
(1,979)
8,063
(2,866)
7,871
(2,804)
Adjusted EBITDA
382,428
335,909
251,256
288,568
278,428
1,258,161
440,723
Non-cash equity compensation
6,506
11,384
14,806
11,236
9,237
43,932
37,053
Settlement of New Markets Tax Credit transactions
—
—
—
—
—
—
(2,786)
Litigation expense
3,776
3,778
4,067
3,735
3,776
15,356
362,272
Acquisition and integration related costs
948
2,525
20,605
13,379
—
37,457
—
Purchase accounting effect on inventory
—
—
6,739
—
—
6,739
—
Core EBITDA
$ 393,658
$ 353,596
$ 297,473
$ 316,918
$ 291,441
$ 1,361,645
$ 837,262
Net sales
$ 2,658,334
$ 2,483,245
$ 2,132,018
$ 2,120,307
$ 2,114,518
$ 9,393,904
$ 7,798,480
Core EBITDA margin
14.8 %
14.2 %
14.0 %
14.9 %
13.8 %
14.5 %
10.7 %
A reconciliation of net earnings to adjusted earnings is provided below:
Three Months Ended
Year Ended
(in thousands, except per share data)
8/31/2026
5/31/2026
2/28/2026
11/30/2025
8/31/2025
8/31/2026
8/31/2025
Net earnings
$ 212,520
$ 173,015
$ 93,032
$ 177,282
$ 151,781
$ 655,849
$ 84,662
Asset impairments
21
—
—
—
3,436
21
4,607
Settlement of New Markets Tax Credit transactions
—
—
—
—
—
—
(2,786)
Litigation expense
3,776
3,778
4,067
3,735
3,776
15,356
362,272
Unrealized (gain) loss on undesignated commodity hedges
2,344
(557)
(1,979)
8,063
(2,866)
7,871
(2,804)
Acquisition, integration and financing related costs
948
2,525
20,605
24,942
—
49,020
—
Amortization of acquired contract backlog
19,750
19,750
17,729
—
—
57,229
—
Purchase accounting effect on inventory
—
—
6,739
—
—
6,739
—
Total adjustments (pre-tax)
$ 26,839
$ 25,496
$ 47,161
$ 36,740
$ 4,346
$ 136,236
$ 361,289
Related tax effects on adjustments
(5,769)
(5,486)
(10,046)
(7,846)
(1,162)
(29,147)
(88,668)
Adjusted earnings
$ 233,590
$ 193,025
$ 130,147
$ 206,176
$ 154,965
$ 762,938
$ 357,283
Net earnings per diluted share(1)
$ 1.91
$ 1.55
$ 0.83
$ 1.58
$ 1.35
$ 5.86
$ 0.74
Adjusted earnings per diluted share
$ 2.09
$ 1.73
$ 1.16
$ 1.84
$ 1.37
$ 6.82
$ 3.13
(1) Net earnings per diluted share is calculated independently for each three month period and may not sum to the year to date period due to rounding.
As described above, net leverage adjusted for acquisitions represents net debt divided by modified consolidated EBITDA. Reconciliations of (i) net earnings to modified consolidated EBITDA and (ii) long-term debt to net debt are provided below:
Modified Consolidated EBITDA (as used in the calculation of net leverage adjusted for acquisitions)
Year Ended
(in thousands)
8/31/2026
Net earnings
$ 655,849
Interest expense
143,337
Income tax expense
55,162
Depreciation and amortization
395,921
Asset impairments
21
Unrealized loss on undesignated commodity hedges
7,871
Adjusted EBITDA
1,258,161
Plus: Litigation expense
15,356
Less: Precast EBITDA contribution (actual)
143,540
Plus: Annualized precast EBITDA contribution
212,159
Modified consolidated EBITDA
$ 1,342,136
Net Debt (as used in the calculation of net leverage adjusted for acquisitions)
Společnost Venture Global uzavřela dohody s GE Vernova a Baker Hughes na podporu až 16 plynových elektrárenských jednotek, každé o výkonu 720 MW, pro vlastní energetické potřeby a případně pro datová centra využívající AI.
Venture Global (VG.N) said on Thursday it had signed deals with GE Vernova (GEV.N) and Baker Hughes (BKR.O) to support up to 16 new power generation units, advancing plans to develop off-grid power capacity that could support AI data centers and its LNG operations.
The rapid growth of data centers has fueled interest in behind-the-meter power projects as developers seek to secure dedicated electricity supplies without adding strain to already constrained public power grids.
Here are more details:
The agreements cover up to 16 power-island units of 720 megawatts each, alongside associated transformer equipment
Venture said the units could support up to 10 gigawatts of compute capacity by the end of 2034, subject to customer commitments and market demand
The company expects to place its first order for a power island by the end of 2026
The gas-fired, combined-cycle units would operate behind-the-meter, without drawing on public power grids or water utilities, the company said
Any third-party data center development would be separate from and complementary to its LNG operations and would not affect existing LNG sales commitments, Venture said
The company plans to file its first permit applications this week. Additional equipment orders will depend on future commercial and operational requirements
This new capacity would expand on the company's 4.5 GW of gas-fired generation that powers its facilities in island mode, allowing the plants to operate independently of the grid
Labcorp koupí od OPKO Health vybraná aktiva BioReference Health za 722 milionů USD v hotovosti při uzavření transakce, s případnou úpravou podle tržeb při uzavření a možným podmíněným doplatkem až 150 milionů USD na základě tržeb z testu 4Kscore.
Acquisition will expand access to clinical laboratory services, including a broad specialty testing menu for patients and providers nationwide
, /PRNewswire/ -- Labcorp (NYSE: LH), a global leader of innovative and comprehensive laboratory services, and OPKO Health, Inc. (Nasdaq: OPK), a multinational biopharmaceutical company, announced today that they have entered into an agreement for Labcorp to acquire select assets of BioReference Health, LLC, a wholly owned subsidiary of OPKO Health.
OPKO
Through this transaction, Labcorp will acquire BioReference Health's laboratory testing businesses focused on clinical and women's health testing services, urology, corrections and certain operational assets, including over 80 additional patient service centers. As part of the agreement, Labcorp will also acquire BioReference Health's proprietary 4Kscore® Test, an FDA-approved blood test that helps predict the likelihood of finding aggressive prostate cancer before a biopsy decision, making this important test more broadly available to patients across the country.
When complete, the transaction is expected to provide patients, physicians and customers with greater access to Labcorp's comprehensive, high-quality laboratory services, including a broad specialty testing menu, convenient patient service center network and robust data analytics and digital tools.
"This acquisition strengthens our ability to deliver affordable, high-quality, specialized diagnostic services to more patients and providers around the country," said Bryan Vaughn, Executive Vice President and President of Diagnostics at Labcorp. "By expanding our clinical, women's health, urology and corrections testing capabilities and broadening access to innovative diagnostics such as the FDA-approved 4Kscore Test, we can help providers make more informed decisions, improve patient care and increase access to the comprehensive laboratory services people need to live healthier lives."
"This transaction will allow OPKO to streamline operations and focus our resources on our biopharmaceutical business," said Phillip Frost, M.D., Chairman and Chief Executive Officer of OPKO. "Labcorp's national scale and capabilities will broaden patient and provider access to BioReference's 4Kscore Test to many more patients across the country. We believe this transaction is an important catalyst to further unlock additional value for our shareholders."
The purchase price for the transaction is $722 million in cash at closing, subject to an upward or downward adjustment (if any) based on closing business revenues, and up to an additional $150 million in an earnout based on revenue from the 4Kscore Test. Labcorp expects the business revenue to be approximately $250 million in the first year after close, based on Labcorp's current post-closing forecasts.
This transaction is subject to regulatory approvals and customary closing conditions. Until the transaction closes, there will be no changes to operations or services, and both companies will continue to operate independently.
Lazard is serving as Labcorp's financial advisor, Hogan Lovells Cadwalader US LLP is serving as lead transaction counsel and Parker Poe is serving as real estate counsel.
Piper Sandler & Co. is serving as OPKO's exclusive financial advisor, and Greenberg Traurig P.A. is serving as legal counsel.
About Labcorp
Labcorp (NYSE: LH) is a global leader of innovative and comprehensive laboratory services that helps doctors, hospitals, pharmaceutical companies, researchers and patients make clear and confident decisions. We provide insights and advance science to improve health and improve lives through our unparalleled diagnostics and drug development laboratory capabilities. The company's nearly 71,000 employees serve clients in approximately 100 countries, provided support for more than 85% of the new drugs and therapeutic products approved by the FDA in 2025 and performed more than 750 million tests for patients around the world. Learn more at www.labcorp.com.
About OPKO
OPKO Health, Inc. (Nasdaq: OPK) is a multinational biopharmaceutical and diagnostics company that seeks to establish industry-leading positions in large, rapidly growing markets by leveraging its discovery, development, and commercialization expertise and novel and proprietary technologies. For more information, visit www.opko.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements, including, but not limited to, statements with respect to (a) the anticipated impact of the transaction including expanding access to comprehensive, high-quality laboratory services, (b) increased access to testing services and expanded testing capabilities including with respect to the 4Kscore Test, (c) anticipated timing to closing, final purchase price, post-closing revenue, and earnout for the 4Kscore Test, (d) other anticipated potential benefits of the acquisition to Labcorp and OPKO Health, and (e) required regulatory approvals and customary closing conditions.
Each of the forward-looking statements is subject to change based on various important factors, many of which are beyond the control of Labcorp or OPKO Health. These factors, in some cases, have affected and in the future (together with other factors) could affect the ability of Labcorp or OKPO Health to implement its respective business strategy, and actual results could differ materially from those suggested by these forward-looking statements. As a result, readers are cautioned not to place undue reliance on any of the forward-looking statements.
Neither Labcorp nor OPKO Health has any obligation to provide any updates to these forward-looking statements even if its expectations change. All forward-looking statements are expressly qualified in their entirety by this cautionary statement. Further information on potential factors, risks and uncertainties that could affect operating and financial results is included in each of Labcorp's and OPKO Health's most recent Annual Report on Form 10-K and subsequent Forms 10-Q, including in each case under the headings RISK FACTORS and MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS, and in each of Labcorp's and OPKO Health's other filings with the SEC.
, /PRNewswire/ -- Penske Automotive Group, Inc. (NYSE: PAG), a diversified international transportation services company and one of the world's premier automotive and commercial truck retailers, today announced that its Board of Directors has declared a quarterly cash dividend of $1.46 per share. The dividend represents an increase of $0.02 per share (+1.4%), bringing the annualized dividend to $5.84 per share. The dividend is payable December 1, 2026, to shareholders of record on November 13, 2026.
About Penske Automotive
Penske Automotive Group, Inc., (NYSE: PAG) headquartered in Bloomfield Hills, Michigan, is a diversified international transportation services company and one of the world's premier automotive and commercial truck retailers. PAG operates dealerships in the United States, the United Kingdom, Canada, Germany, Italy, Japan, and Australia and is one of the largest retailers of commercial trucks in North America for Freightliner. PAG also distributes and retails commercial vehicles, diesel and gas engines, power systems, and related parts and services principally in Australia and New Zealand. PAG employs over 28,900 people worldwide. Additionally, PAG owns 28.9% of Penske Transportation Solutions ("PTS"), a business that employs over 40,000 people worldwide, manages one of the largest, most comprehensive and modern trucking fleets in North America with over 373,600 trucks, tractors, and trailers under lease, rental, and/or maintenance contracts and provides innovative transportation, supply chain, and technology solutions to its customers. PAG is a member of the S&P Mid Cap 400, Fortune 500, Russell 1000, and Russell 3000 indexes. For additional information, visit the Company's website at www.penskeautomotive.com.
Caution Concerning Forward Looking Statements
Statements in this press release may involve forward-looking statements, including forward-looking statements regarding Penske Automotive Group, Inc.'s financial performance, expectations, and future plans. Actual results may vary materially because of risks and uncertainties that are difficult to predict. These risks and uncertainties include, among others, those related to macro-economic, geo-political and industry conditions and events, including their impact on sales of new and used vehicles, service and parts, and repair and maintenance services, the availability of consumer credit, changes in consumer demand, consumer confidence levels, fuel prices, demand for trucks to move freight with respect to Penske Transportation Solutions ("PTS") and Premier Truck Group, and other freight metrics such as spot rates or miles driven, personal discretionary spending levels, interest rates, foreign currency exchange rates, and unemployment rates; our ability to obtain vehicles and parts from our manufacturers, especially in light of supply chain disruptions due to natural disasters, tariffs and non-tariff trade barriers, any shortages of vehicle components, international conflicts, challenges in sourcing labor, labor strikes, work stoppages, or other disruptions; the control our manufacturer partners can exert over our operations and our reliance on them for various aspects of our business; risks to our reputation and those of our manufacturer partners; changes in the retail model from direct sales by manufacturers, a transition to an agency model of sales, sales by online competitors, or from the expansion of electric vehicles; disruptions to the security and availability of our information technology systems and those of our third party providers, which systems are increasingly threatened by ransomware and other cyber-attacks; the effects of a pandemic on the global economy, including our ability to react effectively to changing business conditions in light of any pandemic; the impact of tariffs targeting imported vehicles and parts, as well as changes or increases in tariffs, trade restrictions, trade disputes, or non-tariff trade barriers; the rate of inflation, including its impact on vehicle affordability; our ability to consummate, integrate, and realize returns on our acquisitions; with respect to PTS, changes in the financial health of its customers, labor strikes, or work stoppages by its employees, a reduction in PTS' asset utilization rates, the cost of acquiring and the continued availability from truck manufacturers and suppliers of vehicles and parts for its fleet, including with respect to the effect of various regulations concerning its vehicle fleet, changes in values of used trucks which affects PTS' profitability on truck sales and regulatory risks and related compliance costs, our ability to realize returns on our significant capital investments in new and upgraded dealership facilities; our ability to navigate a rapidly changing automotive and truck landscape; our ability to respond to new or enhanced regulations in both our domestic and international markets relating to dealerships and vehicle sales, including those related to the sales process, emissions standards, or electrification; the success of our distribution of commercial vehicles, engines, and power systems; natural disasters; recall initiatives or other disruptions that interrupt the supply of vehicles or parts to us; risks and uncertainties relating to an unsolicited, preliminary and non-binding take private proposal received from Penske Corporation and Mitsui & Co., Ltd. and their affiliates to acquire all of the shares of the Company not already owned by them, including the possibility that any such transaction may not be pursued, approved, or consummated on the proposed terms, within any anticipated timeframe, or at all; the outcome of legal and administrative matters and other factors over which management has limited control. These forward-looking statements should be evaluated together with additional information about Penske Automotive Group's business, markets, conditions, risks, and other uncertainties, which could affect Penske Automotive Group's future performance. The risks and uncertainties discussed above are not exhaustive and additional risks and uncertainties are addressed in Penske Automotive Group's Form 10-K for the year ended December 31, 2025, its Form 10-Q for the quarterly period ended March 31, 2026, and June 30, 2026, and its other filings with the Securities and Exchange Commission. This press release speaks only as of its date, and Penske Automotive Group disclaims any duty to update the information herein.
Penske Corporation a Mitsui převezmou Penske Automotive Group za 212 USD za akcii v hotovosti; transakce oceňuje společnost na zhruba 16,3 miliardy USD.
Penske Automotive Group Shareholders to Receive $212.00 Per Share in Cash
, /PRNewswire/ -- Penske Automotive Group, Inc. (NYSE: PAG) (the "Company" or "PAG"), a diversified international transportation services company and one of the world's premier automotive and commercial truck retailers, today announced that it has entered into a merger agreement to be taken private by Motown Acquisition Corp. ("Buyer"), an entity owned by Penske Corporation ("Penske") and Mitsui & Co., Ltd. ("Mitsui"). Under the terms of the merger agreement, holders of Penske Automotive Group common stock, other than Penske Corporation, Mitsui and the other members of the investor group, will receive $212.00 per share in cash, valuing the Company at an enterprise value of approximately $16.3 billion. Upon completion of the transaction, the Company will become a privately held company, with approximately 64% of the Company's ownership to be held by Penske and 36% to be held by Mitsui.
The purchase price represents a premium of approximately 8.6% to the closing price of the Company's common stock on July 21, 2026 and a premium of approximately 20.09% and 26.17% to the 60-day and 90-day volume weighted average prices, respectively, for the period ended July 21, 2026, the last trading day prior to the submission of the unsolicited, preliminary and non-binding proposal from Penske and Mitsui to acquire the remaining shares of the Company's common stock that they and their affiliates do not currently own, and an 8.84% premium to the closing price of the Company's common stock on October 14, 2026, the trading date immediately preceding the date on which the definitive agreement was announced. The Company expects to continue paying regular quarterly cash dividends through the closing of the transaction, in each case, in an amount not to exceed $0.02 per share above the per share amount of the last quarterly dividend declared and paid by the Company in the immediately preceding quarter, as well as a pro-rated dividend for any partial quarter prior to the closing.
A special committee of independent and disinterested directors of the Board of Directors (the "Board") of the Company (the "Special Committee") unanimously recommended that the Board approve the proposed transaction. The Special Committee was formed to evaluate and consider the proposal and was advised by independent legal and financial advisors. The Board approved the proposed transaction following the unanimous recommendation of the Special Committee.
"We are pleased to have reached this agreement with Penske and Mitsui, our largest shareholders," said David Hoogendoorn, Penske Automotive Group Board Member and the Special Committee Chair. "The Special Committee thoroughly reviewed the proposal and considered the benefits of the transaction as compared to continuing as a public company, and determined that this transaction provided the greatest value for the Company's minority shareholders."
"I want to thank the Special Committee for its thoughtful and diligent evaluation of the transaction," said Roger Penske, Chair and CEO of the Company. "This transaction marks an important next chapter for PAG. Mitsui has been a shareholder for 25 years, and we have had a productive relationship over the past quarter-century. Together with Mitsui, we will build on PAG's operational excellence and draw on our combined capabilities and networks to drive innovation and expand PAG's business through new opportunities and collaborative projects."
Approvals and Timing
The transaction is expected to close in the first quarter of 2027, subject to the satisfaction or waiver of closing conditions, including receipt of regulatory approvals and the affirmative vote of the holders of a majority of the outstanding shares of the Company's common stock that are entitled to vote on the transaction, as well as the approval by holders of a majority of the votes cast by unaffiliated stockholders (as defined in the merger agreement). The transaction is not subject to a financing condition.
Following the closing of the transaction, the Company's shares of common stock will no longer be traded or listed on the New York Stock Exchange.
Third Quarter 2026 Financial Results
Penske Automotive Group's third quarter 2026 financial results will be issued on October 28, 2026, prior to market opening. In light of the announced transaction, the Company will not host an earnings conference call. The Company's third quarter 2026 earnings press release and investor presentation will be available on its investor relations website at www.penskeautomotive.com.
Advisors
Moelis & Company LLC is acting as exclusive financial advisor to the Special Committee and Paul, Weiss, Rifkind, Wharton & Garrison LLP is acting as its legal counsel. The Company is being represented by Freshfields LLP. Jones Day is acting as legal counsel to Penske and BofA Securities, Inc., J.P. Morgan Securities LLC and Wells Fargo Securities, LLC are acting as its financial advisors. Debevoise & Plimpton LLP is acting as legal counsel to Mitsui & Co., Ltd.
About Penske Automotive
Penske Automotive Group, Inc. (NYSE: PAG), headquartered in Bloomfield Hills, Michigan, is a diversified international transportation services company and one of the world's premier automotive and commercial truck retailers. The Company operates dealerships in the United States, the United Kingdom, Canada, Germany, Italy, Japan, and Australia and is one of the largest retailers of commercial trucks in North America for Freightliner. The Company also distributes and retails commercial vehicles, diesel and gas engines, power systems, and related parts and services principally in Australia and New Zealand. The Company employs over 28,900 people worldwide. Additionally, the Company owns 28.9% of Penske Transportation Solutions, a business that employs over 40,000 people worldwide, manages one of the largest, most comprehensive and modern trucking fleets in North America with over 373,600 trucks, tractors, and trailers under lease, rental, and/or maintenance contracts and provides innovative transportation, supply chain, and technology solutions to its customers. The Company is a member of the S&P Mid Cap 400, Fortune 500, Russell 1000, and Russell 3000 indexes. For additional information, visit the Company's website at www.penskeautomotive.com.
Additional Information Regarding the Transaction and Where to Find It
This communication relates to the proposed transaction (the "proposed transaction") involving the Company and Buyer contemplated by the agreement and plan of merger (the "agreement and plan of merger") by and between the Company and Buyer. In connection with the proposed transaction, the Company intends to file a preliminary proxy statement on Schedule 14A (the "Proxy Statement") with the Securities and Exchange Commission (the "SEC") relating to a special meeting of shareholders to approve the proposed transaction. The definitive proxy statement (if and when available) will be mailed to the Company's stockholders seeking their approval of the proposed transaction and other related matters. The Company, Buyer and certain of their affiliates also intend to jointly file a transaction statement on Schedule 13E-3 (the "Schedule 13E-3") relating to the proposed transaction. The Company may also file other relevant documents with the SEC regarding the proposed transaction. This communication is not a substitute for the Proxy Statement, Schedule 13E-3, or any other document the Company, Buyer, Penske or Mitsui may file with the SEC in connection with the proposed transaction. This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities of the Company or any other person or the solicitation of any vote or approval.
BEFORE MAKING ANY VOTING OR INVESTMENT DECISION WITH RESPECT TO THE PROPOSED TRANSACTION, INVESTORS AND SECURITY HOLDERS OF THE COMPANY ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT REGARDING THE PROPOSED TRANSACTION (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO OR INCORPORATED BY REFERENCE THEREIN), THE SCHEDULE 13E-3 (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO OR INCORPORATED BY REFERENCE THEREIN), AND OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY, THE PROPOSED TRANSACTION AND RELATED MATTERS.
Investors and security holders may obtain free copies of these documents, including the Proxy Statement, Schedule 13E-3 and any other documents containing important information about the Company and the proposed transaction, once such documents are filed with the SEC, through the website maintained by the SEC at www.sec.gov. In addition, shareholders of the Company may obtain free copies of such documents by accessing the Investor Relations portion of the Company's website at https://investors.penskeautomotive.com/financials/sec-filings.
Participants in the Solicitation
The Company and certain of its directors, executive officers and other employees may, under the rules of the SEC, be deemed to be participants in the solicitation of proxies in connection with the proposed transaction. Information about the directors and executive officers of the Company is set forth in the Company's definitive proxy statement on Schedule 14A for the 2026 annual meeting of the stockholders of the Company, filed with the SEC on March 20, 2026 (the "Annual Meeting Proxy Statement"), under the sections "Proposal 1 – Election of Directors," "Executive Officers," "Executive Compensation," "Director Compensation" and "Security Ownership of Certain Beneficial Owners and Management," and other documents subsequently filed by the Company with the SEC. Transactions with related persons (as defined in Item 404 of Regulation S-K promulgated under the Securities Act of 1933, as amended) are disclosed under the heading titled "Related Party Transactions" in the Annual Meeting Proxy Statement. To the extent holdings of securities by potential participants (or the identity of such participants) have changed since the information set forth in the Annual Meeting Proxy Statement, such information has been or will be reflected on the Company's Statements of Beneficial Ownership on Forms 3 and 4 filed with the SEC. Updated information regarding the identity of participants and their direct or indirect interests, by security holdings or otherwise, in the Company will be set forth in the Proxy Statement regarding the approval of the proposed transaction and other relevant documents to be filed with the SEC, including the Schedule 13E-3, if and when they become available. These documents will be available free of charge as described above.
This communication may include statements that are not statements of historical fact, or "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including with respect to the proposed transaction. In many cases, you can identify forward-looking statements by terminology such as "may," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," "potential," "continue" or the negative of such terms and other comparable terminology. There may also be other statements of expectations, beliefs, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are difficult to predict and are generally outside the Company's and Buyer's control, that could cause actual performance or results to differ materially from those expressed in, or implied or projected by, the forward-looking statements. Such forward-looking statements include, but are not limited to: the ability of Buyer and the Company to complete the transactions contemplated by the agreement and plan of merger, including the parties' ability to satisfy the conditions set forth in the agreement and plan of merger; statements about the expected timetable for completing the transaction, Buyer's and the Company's beliefs and expectations and statements about the benefits sought to be achieved in Buyer's proposed acquisition of the Company, the potential effects of the acquisition on each of Buyer and the Company; as well as the possibility of any termination of the agreement and plan of merger. These statements are based upon the current beliefs and expectations of Buyer's and the Company's management and are subject to significant risks and uncertainties. There can be no guarantees that the conditions to the closing of the proposed transaction will be satisfied on the expected timetable or at all. If underlying assumptions prove inaccurate or risks or uncertainties materialize, actual results may differ materially from those set forth in the forward-looking statements. Risks and uncertainties include, but are not limited to, uncertainties as to the timing of the proposed transaction; the possibility that Buyer's committed debt financing will not be available; uncertainties as to how many of the Company's shareholders will vote in favor of the proposed transaction; the possibility that various conditions to the consummation of the proposed transaction may not be satisfied or waived; the ability to obtain necessary regulatory approvals or to obtain them on acceptable terms or within expected timing; the risk that any announcements relating to the proposed transaction could have adverse effects on the market price of the Company's common stock, credit ratings or operating results; the effects of disruption from the transactions contemplated by the agreement and plan of merger and the impact of the announcement and pendency of the transactions on the Company's business, including the ability of the Company to attract, retain and hire key personnel and to maintain relationships with customers, suppliers and others with whom the Company does business, employee departures, diversion of management's time and attention from ordinary course business operations, or certain restrictions during the pendency of the proposed transaction that may impact the Company's ability to pursue certain business opportunities or strategic transactions; the risk that shareholder litigation in connection with the proposed transaction may result in significant costs of defense, indemnification and liability; the risk that there may be unexpected costs, charges or expenses resulting from the proposed transaction; general industry conditions and competition; general economic factors, including interest rate and currency exchange rate fluctuations; and the impact of tariffs. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the Company's Annual Report on Form 10-K for the year ended December 31, 2025, its Quarterly Reports on Form 10-Q for the quarterly periods ended March 31, 2026 and June 30, 2026, and its other filings made with the SEC. These and other filings made by the Company with the SEC are available at www.sec.gov.
The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise, except to the extent required by law.
Becky Frankiewicz se 1. ledna 2027 stane generální ředitelkou společnosti ManpowerGroup a nahradí Jonase Prisinga, který přejde do funkce výkonného předsedy představenstva.
Becky Frankiewicz to Become Chief Executive Officer
Jonas Prising to Transition to Executive Chair
Appointments to Take Effect January 1, 2027
, /PRNewswire/ -- ManpowerGroup (NYSE: MAN) today announced that its Board of Directors has elected Becky Frankiewicz Chief Executive Officer, effective January 1, 2027. Frankiewicz, who currently serves as President and Chief Strategy Officer, will also join ManpowerGroup's Board of Directors. She will become the fifth CEO in the company's almost 80-year history, succeeding Jonas Prising, who will transition to Executive Chair of the Board after serving as CEO since 2014. This transition reflects the Board's long-term succession planning, underscoring ManpowerGroup's commitment to leadership continuity and the strength of its executive team.
Becky Frankiewicz (left) and Jonas Prising Since becoming President and Chief Strategy Officer, Frankiewicz has led ManpowerGroup's commercial strategy, driving the integration of AI and agentic AI across the organization and positioning the company and its global brands – Manpower, Experis, and Talent Solutions – for the next era of growth, innovation and transformation.
Julie Howard, Lead Director of ManpowerGroup's Board of Directors, stated, "On behalf of the Board, I would like to extend our gratitude to Jonas for his inspirational leadership and impactful stewardship of ManpowerGroup. Under his direction, the company has strengthened its brands, expanded higher-value talent and workforce management capabilities, and built a business that is more digital, diversified, and resilient. Following an extensive succession planning process, we are very pleased to endorse Becky as the next CEO for ManpowerGroup."
"Leading ManpowerGroup over the past twelve years has been a great honor," said Prising, "Becky and I have worked closely together on ManpowerGroup's ongoing transformation, and I've seen firsthand the exceptional leadership, strategic perspective and deep commitment she brings to the Company. I have every confidence in Becky as she leads ManpowerGroup into its next chapter. I look forward to working closely with her to ensure a seamless transition, and supporting her and the team in my new role as Executive Chair."
"I appreciate the confidence the Board and Jonas have placed in me, and the partnership Jonas and I have built," Frankiewicz said. "ManpowerGroup's strong legacy and clear purpose - grounded in our belief that meaningful and sustainable employment can change lives - are what first drew me to the company and remains the foundation for what comes next. As we enter our next chapter, we have a significant opportunity to accelerate our strategy, expand our AI capabilities, and deliver greater value through our 'Human First, Digital Always' approach. Together with our teams around the world, I look forward to helping clients and talent navigate the next frontier of the transformation of work."
About Becky Frankiewicz
Frankiewicz has served as President and Chief Strategy Officer of ManpowerGroup, a global leader in workforce solutions, since her elevation from Chief Commercial Officer and President of ManpowerGroup North America in June 2025. In this role, she shaped the company's long-term strategy and drives the enterprise-wide integration of AI across its brands: Manpower, Experis, and Talent Solutions.
Frankiewicz joined ManpowerGroup in July 2017 as President of North America, bringing deep P&L expertise from leading large, complex global businesses. Prior to ManpowerGroup, Frankiewicz led Quaker Foods North America, one of PepsiCo's largest subsidiaries.
Frankiewicz began her career in strategic consulting with Deloitte and Andersen Consulting and started her professional journey at Procter & Gamble. She has served on the Board of Directors of Energizer Holdings, Inc. since January 2020.
ABOUT MANPOWERGROUP
ManpowerGroup® (NYSE: MAN), the leading global workforce solutions company, helps organizations transform in a fast-changing world of work by sourcing, assessing, developing, and managing the talent that enables them to win. We develop innovative solutions for hundreds of thousands of organizations every year, providing them with skilled talent while finding meaningful, sustainable employment for millions of people across a wide range of industries and skills. Our expert family of brands – Manpower, Experis, and Talent Solutions – creates substantially more value for candidates and clients across more than 70 countries and territories and has done so for more than 75 years. We are recognized consistently as a best place to work for Women, Inclusion, Equality, and Disability, and in 2026 ManpowerGroup was named one of the World's Most Ethical Companies for the 17th time; all confirming our position as the brand of choice for in-demand talent.
For more information, visit www.manpowergroup.com, or follow us on LinkedIn and Facebook.
Revenues of $4.8 billion (+4% as reported, +5% constant currency, +6% organic constant currency)
Continued top-line growth driven by strength in Manpower, particularly in the United States
Improving global Experis trends with U.S. Experis crossing over to growth during the quarter
Strong year-over-year revenue growth and Operating Unit Profit improvement in Northern Europe
SG&A improved trend reflects continued cost actions
Becky Frankiewicz will become CEO January 1, 2027, with Jonas Prising transitioning to Executive Chair. More details in a separate press release issued this morning
, /PRNewswire/ -- ManpowerGroup (NYSE: MAN) today reported net earnings of $0.71 per diluted share for the three months ended September 30, 2026 compared to net earnings of $0.38 per diluted share in the prior year period. Net earnings in the quarter were $34.1 million compared to net earnings of $18.0 million a year earlier. Revenues for the third quarter were $4.8 billion, a 4% increase from the prior year period.
The current year quarter included restructuring costs, strategic transformation program costs, a business sale adjustment, and Argentina hyperinflationary related non-cash currency translation losses, which negatively impacted earnings per share by $0.30 in the third quarter. Excluding these items, earnings per share was $1.01 per diluted share in the quarter representing an increase of 24% in constant currency in the third quarter of 2026.1
Financial results in the quarter were also impacted by the U.S. dollar relative to foreign currencies compared to the prior year period. On a constant currency basis, revenues increased 5% compared to the prior year period.
Jonas Prising, ManpowerGroup Chair & CEO, said, "We delivered another quarter of consistent performance and strong execution as momentum continues across the organization. Our Manpower brand continues to lead the way, with notable share gains in the U.S. Our Experis and Talent Solutions brands experienced sequential revenue trend improvement which is encouraging. Our performance to date reinforces our confidence that 2026 is an inflection point for the business. At the same time, we continue to advance our transformation, expanding implementation beyond the U.S. and driving growth across our brands and regions while remaining on track to deliver on our cost savings target. Looking ahead, the combination of improving demand, strong execution, and continued progress on our transformation positions ManpowerGroup to drive sustainable, profitable growth."
We anticipate diluted earnings per share in the fourth quarter will be between $1.03 and $1.13 and a 44% effective tax rate."
Net earnings for the nine months ended September 30, 2026 were $90.1 million, or net earnings of $1.89 per diluted share compared to net losses of $43.5 million, or net losses of $0.93 per diluted share in the prior year, respectively. The current year-to-date period included restructuring costs, strategic transformation program costs, the sale of our Jefferson Wells U.S. business, a discontinued business liquidation charge, and Argentina hyperinflationary related non-cash currency translation losses which, in aggregate, reduced earnings per share by $0.62. Excluding the net impact of these charges, earnings per share for the nine-month period was $2.51 per diluted share representing an increase of 21%2 in constant currency. Revenues for the nine-month period were $14.2 billion, representing an increase of 7% compared to the prior year or 5% in constant currency.
In conjunction with its third quarter earnings release, ManpowerGroup will broadcast its conference call live over the internet on October 15, 2026 at 7:30 a.m. Central time (8:30 a.m. Eastern time). Prepared remarks for the conference call, webcast details, presentation and recordings are included within the Investor Relations section of manpowergroup.com.
Supplemental financial information referenced in the conference call can be found at http://investor.manpowergroup.com/.
_____________________________
1 The prior year period included various adjustments which reduced earnings per share by $0.45 in the third quarter, which are also excluded when determining the year over year adjusted trend.
2 The prior year period included restructuring costs, net losses from the sale of businesses, a non-cash goodwill and intangible asset impairment charge, and Argentina hyperinflationary related non-cash currency translation losses which reduced earnings per share by $2.98 which are also excluded when determining the year over year trend.
About ManpowerGroup
ManpowerGroup® (NYSE: MAN), the leading global workforce solutions company, helps organizations transform in a fast-changing world of work by sourcing, assessing, developing, and managing the talent that enables them to win. We develop innovative solutions for hundreds of thousands of organizations every year, providing them with skilled talent while finding meaningful, sustainable employment for millions of people across a wide range of industries and skills. Our expert family of brands – Manpower, Experis, and Talent Solutions – creates substantially more value for candidates and clients across more than 70 countries and territories and has done so for more than 75 years. We are recognized consistently for our diversity – as a best place to work for Women, Inclusion, Equality, and Disability, and in 2026 ManpowerGroup was named one of the World's Most Ethical Companies for the 17th time – all confirming our position as the brand of choice for in-demand talent. For more information, visit www.manpowergroup.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended, including statements regarding trends in labor demand and the future strengthening of such demand, the Company's financial outlook, and the Company's strategic initiatives and technology investments, including our ability to increase market share and the acceleration of transformation initiatives to remove structural costs from the organization to drive efficiencies, which are subject to risks and uncertainties. The Company's actual results may differ materially from those described or contemplated in the forward-looking statements due to numerous factors. These factors include those found in the Company's reports filed with the SEC, including the information under the heading "Risk Factors" in its Annual Report on Form 10-K for the year ended December 31, 2025, which information is incorporated herein by reference.
We caution that any forward-looking statement reflects only our belief at the time the statement is made. The Company assumes no obligation to update or revise any forward-looking statements. We reference certain non-GAAP financial measures, which we believe provide useful information for investors. We include a reconciliation of these measures, where appropriate, to GAAP on the Investor Relations section of our website at manpowergroup.com.
ManpowerGroup
Results of Operations
(In millions, except per share data)
Three Months Ended September 30
% Variance
Amount
Constant
2026
2025
Reported
Currency
(Unaudited)
Revenues from services (a)
$
4,840.0
$
4,634.4
4.4
%
5.2
%
Cost of services
4,072.7
3,865.5
5.4
%
6.1
%
Gross profit
767.3
768.9
-0.2
%
0.4
%
Selling and administrative expenses
685.0
702.3
-2.5
%
-2.0
%
Operating profit
82.3
66.6
23.7
%
26.2
%
Interest and other expenses, net
14.3
13.7
4.8
%
Earnings before income taxes
68.0
52.9
28.5
%
31.0
%
Provision for income taxes
33.9
34.9
-2.8
%
Net earnings
$
34.1
$
18.0
89.3
%
92.9
%
Net earnings per share - basic
$
0.73
$
0.39
87.7
%
Net earnings per share - diluted
$
0.71
$
0.38
84.4
%
87.9
%
Weighted average shares - basic
46.9
46.5
0.8
%
Weighted average shares - diluted
48.1
46.9
2.7
%
(a)
Revenues from services include fees received from our franchise offices of $4.2 million and $4.3 million for the three months ended September 30, 2026 and 2025, respectively. These fees are primarily based on revenues generated by the franchise offices, which were $481.1 million and $300.3 million for the three months ended September 30, 2026 and 2025, respectively.
ManpowerGroup
Operating Unit Results
(In millions)
Three Months Ended September 30
% Variance
Amount
Constant
2026
2025
Reported
Currency
(Unaudited)
Revenues from Services:
Americas:
United States (a)
$
728.8
$
690.8
5.5
%
5.5
%
Other Americas
517.9
407.9
27.0
%
21.7
%
1,246.7
1,098.7
13.5
%
11.5
%
Southern Europe:
France
1,132.9
1,173.5
-3.5
%
-1.9
%
Italy
483.1
462.5
4.5
%
6.2
%
Other Southern Europe
611.9
569.5
7.5
%
7.0
%
2,227.9
2,205.5
1.0
%
2.1
%
Northern Europe
860.6
816.8
5.4
%
5.9
%
APME
514.9
520.5
-1.1
%
4.3
%
4,850.1
4,641.5
Intercompany Eliminations
(10.1)
(7.1)
$
4,840.0
$
4,634.4
4.4
%
5.2
%
Operating Unit Profit (Loss):
Americas:
United States
$
24.3
$
20.6
18.2
%
18.2
%
Other Americas
23.1
17.3
33.1
%
27.9
%
47.4
37.9
25.0
%
22.6
%
Southern Europe:
France
22.4
30.6
-26.9
%
-25.3
%
Italy
27.4
26.6
3.2
%
5.1
%
Other Southern Europe
14.8
8.4
74.1
%
68.2
%
64.6
65.6
-1.7
%
-1.0
%
Northern Europe
7.5
(14.9)
N/A
N/A
APME
23.9
26.8
-10.2
%
-3.7
%
143.4
115.4
Corporate expenses
(54.1)
(40.9)
Intangible asset amortization expense
(7.0)
(7.9)
Operating profit
82.3
66.6
23.7
%
26.2
%
Interest and other expenses, net (b)
(14.3)
(13.7)
Earnings before income taxes
$
68.0
$
52.9
(a)
In the United States, revenues from services include fees received from our franchise offices of $2.4 million and $2.7 million for the three months ended September 30, 2026 and 2025, respectively. These fees are primarily based on revenues generated by the franchise offices, which were $94.5 million and $83.5 million for the three months ended September 30, 2026 and 2025, respectively.
(b)
The components of interest and other expenses, net were:
2026
2025
Interest expense
$
28.0
$
24.0
Interest income
(7.8)
(6.9)
Foreign exchange loss
1.3
2.4
Miscellaneous income, net
(7.2)
(5.8)
$
14.3
$
13.7
ManpowerGroup
Results of Operations
(In millions, except per share data)
Nine Months Ended September 30
% Variance
Amount
Constant
2026
2025
Reported
Currency
(Unaudited)
Revenues from services (a)
$
14,210.6
$
13,244.0
7.3
%
4.7
%
Cost of services
11,940.0
11,013.1
8.4
%
5.7
%
Gross profit
2,270.6
2,230.9
1.8
%
-0.5
%
Selling and administrative expenses,
excluding impairment charges
2,048.0
2,072.7
-1.2
%
-3.4
%
Impairment charges (b)
—
88.7
N/A
N/A
Selling and administrative expenses
2,048.0
2,161.4
-5.3
%
-7.4
%
Operating profit
222.6
69.5
220.4
%
213.8
%
Interest and other expenses, net
46.8
41.7
12.4
%
Earnings before income taxes
175.8
27.8
531.5
%
525.5
%
Provision for income taxes
85.7
71.3
20.2
%
Net earnings (loss)
$
90.1
$
(43.5)
N/A
N/A
Net earnings (loss) per share - basic
$
1.93
$
(0.93)
N/A
Net earnings (loss) per share - diluted
$
1.89
$
(0.93)
N/A
N/A
Weighted average shares - basic
46.8
46.6
0.4
%
Weighted average shares - diluted
47.6
46.6
2.2
%
(a)
Revenues from services include fees received from our franchise offices of $12.5 million for both the nine months ended September 30, 2026 and 2025. These fees are primarily based on revenues generated by the franchise offices, which were $1,406.8 million and $1,147.4 million for the nine months ended September 30, 2026 and 2025, respectively.
(b)
Impairment charges for the nine months ended September 30, 2025 consist of a goodwill impairment related to our investments in Switzerland and the United Kingdom and an impairment of an indefinite lived intangible asset in our Switzerland business.
ManpowerGroup
Operating Unit Results
(In millions)
Nine Months Ended September 30
% Variance
Amount
Constant
2026
2025
Reported
Currency
(Unaudited)
Revenues from Services:
Americas:
United States (a)
$
2,098.0
$
2,053.7
2.2
%
2.2
%
Other Americas
1,476.6
1,161.7
27.1
%
21.7
%
3,574.6
3,215.4
11.2
%
9.2
%
Southern Europe:
France
3,379.1
3,288.5
2.8
%
-0.8
%
Italy
1,479.7
1,336.2
10.7
%
6.9
%
Other Southern Europe
1,779.1
1,564.1
13.8
%
7.7
%
6,637.9
6,188.8
7.3
%
3.0
%
Northern Europe
2,476.2
2,342.0
5.7
%
2.0
%
APME
1,544.1
1,522.2
1.4
%
5.7
%
14,232.8
13,268.4
Intercompany Eliminations
(22.2)
(24.4)
14,210.6
13,244.0
7.3
%
4.7
%
Operating Unit Profit (Loss):
Americas:
United States
$
79.2
$
51.6
53.6
%
53.6
%
Other Americas
59.2
47.9
23.4
%
18.4
%
138.4
99.5
39.1
%
36.6
%
Southern Europe:
France
67.9
83.9
-19.1
%
-20.9
%
Italy
90.2
83.0
8.6
%
5.0
%
Other Southern Europe
35.8
22.2
61.1
%
49.5
%
193.9
189.1
2.5
%
-1.3
%
Northern Europe
1.3
(42.2)
N/A
N/A
APME
69.5
73.2
-4.8
%
1.9
%
403.1
319.6
Corporate expenses
(159.5)
(137.1)
Impairment charges (b)
—
(88.7)
Intangible asset amortization expense
(21.0)
(24.3)
Operating profit
222.6
69.5
220.4
%
213.8
%
Interest and other expenses, net (c)
(46.8)
(41.7)
Earnings before income taxes
$
175.8
$
27.8
(a)
In the United States, revenues from services include fees received from our franchise offices of $7.5 million for both the nine months ended September 30, 2026 and 2025. These fees are primarily based on revenues generated by the franchise offices, which were $266.4 million and $247.5 million for the nine months ended September 30, 2026 and 2025, respectively.
(b)
Impairment charges for the nine months ended September 30, 2025 consist of a goodwill impairment related to our investments in Switzerland and the United Kingdom and an impairment of an indefinite lived intangible asset in our Switzerland business.
(c)
The components of interest and other expenses, net were:
2026
2025
Interest expense
$
77.5
$
72.5
Interest income
(18.7)
(22.0)
Foreign exchange loss
3.6
4.6
Miscellaneous income, net
(15.6)
(13.4)
$
46.8
$
41.7
ManpowerGroup
Consolidated Balance Sheets
(In millions)
September 30,
December 31,
2026
2025
(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents
$
233.1
$
871.0
Accounts receivable, net
4,619.4
4,770.3
Prepaid expenses and other assets
204.3
149.1
Total current assets
5,056.8
5,790.4
Other assets:
Goodwill
1,481.7
1,544.6
Intangible assets, net
408.3
430.1
Operating lease right-of-use assets
345.5
392.7
Other assets
856.5
879.1
Total other assets
3,092.0
3,246.5
Property and equipment:
Land, buildings, leasehold improvements and equipment
522.8
526.9
Less: accumulated depreciation and amortization
411.7
403.7
Net property and equipment
111.1
123.2
Total assets
$
8,259.9
$
9,160.1
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable
$
2,432.6
$
2,721.1
Employee compensation payable
232.7
232.3
Accrued payroll taxes and insurance
633.0
672.1
Accrued liabilities
461.0
457.6
Value added taxes payable
406.5
418.1
Short-term operating lease liability
99.2
107.4
Short-term borrowings and current maturities of long-term debt
540.6
625.0
Total current liabilities
4,805.6
5,233.6
Other liabilities:
Long-term debt
562.8
1,052.1
Long-term operating lease liability
259.8
304.3
Other long-term liabilities
491.1
509.8
Total other liabilities
1,313.7
1,866.2
Shareholders' equity:
ManpowerGroup shareholders' equity
Common stock
1.2
1.2
Capital in excess of par value
3,592.8
3,572.5
Retained earnings
3,788.9
3,732.3
Accumulated other comprehensive loss
(406.1)
(412.1)
Treasury stock, at cost
(4,836.4)
(4,834.3)
Total ManpowerGroup shareholders' equity
2,140.4
2,059.6
Noncontrolling interests
0.2
0.7
Total shareholders' equity
2,140.6
2,060.3
Total liabilities and shareholders' equity
$
8,259.9
$
9,160.1
ManpowerGroup
Consolidated Statements of Cash Flows
(In millions)
Nine Months Ended
September 30,
2026
2025
(Unaudited)
Cash Flows from Operating Activities:
Net earnings (Loss)
$
90.1
$
(43.5)
Adjustments to reconcile net earnings to net cash used in operating activities:
Depreciation and amortization
62.1
65.5
(Gain) Loss on sales of subsidiaries, net
(22.8)
6.2
Non-cash impairment of goodwill and other intangible assets
—
88.7
Deferred income taxes
7.1
(16.1)
Provision for credit losses
9.1
4.3
Share-based compensation
20.9
20.2
Changes in operating assets and liabilities:
Accounts receivable
36.4
(8.8)
Other assets
(74.7)
(95.4)
Accounts payable
(255.8)
(182.9)
Other liabilities
(9.4)
(121.2)
Cash used in operating activities
(137.0)
(283.0)
Cash Flows from Investing Activities:
Capital expenditures
(23.6)
(46.4)
Acquisition of businesses, net of cash acquired
—
(1.0)
Impact to cash resulting from sales of subsidiaries
87.5
(2.1)
Proceeds from the sale of property and equipment
1.4
0.8
Cash provided by (used in) investing activities
65.3
(48.7)
Cash Flows from Financing Activities:
Net change in short-term borrowings
1.5
65.7
Net proceeds from revolving debt facility
50.0
73.0
Proceeds from long-term debt
3.2
0.2
Repayments of long-term debt
(585.9)
(0.6)
Payments of contingent consideration for acquisition
Abercrombie & Fitch vykázala čtvrtletní zisk na akcii (EPS) ve výši 4,17 USD, výrazně nad odhadem 1,99 USD, při tržbách 1,27 mld. USD oproti odhadu 1,25 mld. USD.
Abercrombie & Fitch Company (NYSE:ANF – Get Free Report) shares crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $103.91 and traded as high as $150.87. Abercrombie & Fitch shares last traded at $149.5550, with a volume of 1,356,738 shares changing hands.
Analysts Set New Price Targets ANF has been the subject of a number of research reports. Wall Street Zen upgraded Abercrombie & Fitch from a “hold” rating to a “buy” rating in a report on Saturday, September 12th. JPMorgan Chase & Co. increased their target price on shares of Abercrombie & Fitch from $110.00 to $126.00 and gave the stock a “neutral” rating in a report on Tuesday, August 18th. Morgan Stanley boosted their price target on Abercrombie & Fitch from $87.00 to $134.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 27th. UBS Group raised their target price on shares of Abercrombie & Fitch from $153.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, August 27th. Finally, The Goldman Sachs Group set a $160.00 target price on shares of Abercrombie & Fitch in a research report on Thursday, August 27th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $155.38.
View Our Latest Research Report on Abercrombie & Fitch
Abercrombie & Fitch Trading Down 0.9% The firm has a 50-day simple moving average of $132.64 and a two-hundred day simple moving average of $103.91. The company has a market capitalization of $6.35 billion, a price-to-earnings ratio of 12.80, a P/E/G ratio of 1.32 and a beta of 1.02. Abercrombie & Fitch (NYSE:ANF – Get Free Report) last issued its quarterly earnings data on Wednesday, August 26th. The apparel retailer reported $4.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $2.18. The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Abercrombie & Fitch had a return on equity of 33.52% and a net margin of 10.03%. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.91 EPS. Abercrombie & Fitch has set its Q3 2026 guidance at 2.900-3.200 EPS and its FY 2026 guidance at 13.100-13.600 EPS. Equities research analysts anticipate that Abercrombie & Fitch Company will post 11.42 EPS for the current year.
Insider Activity In other news, COO Scott Lipesky sold 10,000 shares of Abercrombie & Fitch stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $115.00, for a total transaction of $1,150,000.00. Following the completion of the transaction, the chief operating officer directly owned 152,534 shares of the company’s stock, valued at $17,541,410. The trade was a 6.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kenneth Robinson sold 800 shares of the firm’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $149.69, for a total transaction of $119,752.00. Following the sale, the director owned 7,169 shares in the company, valued at approximately $1,073,127.61. This represents a 10.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 72,800 shares of company stock valued at $9,595,392 in the last quarter. Company insiders own 2.33% of the company’s stock.
Hedge Funds Weigh In On Abercrombie & Fitch A number of hedge funds have recently bought and sold shares of ANF. Bbfit Investments PTE Ltd. purchased a new position in Abercrombie & Fitch during the fourth quarter valued at $205,539,000. Arrowstreet Capital Limited Partnership raised its position in shares of Abercrombie & Fitch by 41.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,310,296 shares of the apparel retailer’s stock worth $119,722,000 after purchasing an additional 384,845 shares during the last quarter. Baird Financial Group Inc. acquired a new position in shares of Abercrombie & Fitch during the 2nd quarter worth about $20,035,000. Dimensional Fund Advisors LP raised its position in shares of Abercrombie & Fitch by 15.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,596,177 shares of the apparel retailer’s stock worth $145,823,000 after purchasing an additional 208,709 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its stake in Abercrombie & Fitch by 570.6% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 104,936 shares of the apparel retailer’s stock valued at $9,588,000 after buying an additional 89,287 shares in the last quarter.
Abercrombie & Fitch Company Profile (Get Free Report)
Abercrombie & Fitch Co is a global specialty retailer of apparel, accessories and personal-care products. The company operates a portfolio of lifestyle brands, including Abercrombie & Fitch, abercrombie kids, Hollister and Gilly Hicks, serving customers across a range of age groups and fashion preferences.
Its product offerings include casual clothing, denim, dresses, intimates, sleepwear, activewear, swimwear, footwear, accessories and fragrances. The company sells its merchandise through branded retail stores, e-commerce websites and other digital channels, with operations serving customers in North America, Europe, Asia and other international markets.
Founded in 1892 as a sporting-goods store in New York City, Abercrombie & Fitch evolved into a lifestyle apparel retailer and has expanded its brand portfolio over time.
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Přípravek KB113 od společnosti Krystal Biotech zmenšil 83,1 % hodnocených bazocelulárních karcinomů u tří pacientů s Gorlinovým syndromem; úplná odpověď byla histologicky potvrzena u jedné léze u každého pacienta.
Over 80% of assessed basal cell carcinoma lesions regressed across three Gorlin syndrome patients treated with KB113
Substantial regression was observed in lesions not directly injected with KB113, consistent with abscopal effect
KB113 injections were well tolerated by Gorlin syndrome patients; all reported adverse events were mild to moderate in severity and transient in nature
Data will be presented by study investigator Dr. Shireen Guide at the 14th PeDRA Annual Conference, October 15-17, 2026
PITTSBURGH, Oct. 15, 2026 (GLOBE NEWSWIRE) -- Krystal Biotech, Inc. (the “Company”) (NASDAQ: KRYS) announced today a positive clinical update supporting initial proof of concept for KB113, an intratumoral immunotherapy designed to drive sustained, localized expression of interleukin-2 (IL-2) and interleukin-12 (IL-12) in the tumor microenvironment and promote systemic immune-mediated tumor clearance, in the treatment of basal cell carcinomas (BCCs) in patients with Gorlin syndrome:
Broad antitumor responses were detected in all three Gorlin syndrome patients treated with KB113, with over 80% of assessed BCC lesions reducing in size;Responses were observed in both injected and non-injected lesions, including substantial regression in lesions that were not directly injected with KB113, consistent with an abscopal effect; andComplete clearance of an injected lesion was also confirmed histologically for each of the three patients treated with KB113. Gorlin syndrome is a genetic disease characterized by a greatly increased risk of developing BCCs. Patients with Gorlin syndrome can develop BCCs as early as infancy and may have hundreds of BCCs over their lifetimes requiring frequent and potentially disfiguring surgical procedures. The psychological and physical toll of Gorlin syndrome builds over time, as patients are subjected to repeated cycles of surveillance, surgery, and recovery to manage emergent BCCs, with each surgery adding to the cumulative risk of scarring and permanent tissue loss. Prevalence data for Gorlin syndrome is limited but available data suggest the number of patients with Gorlin syndrome in the United States could exceed 10,000.
“For individuals living with Gorlin syndrome, the lifelong emergence of multiple BCCs creates an immense cumulative treatment burden—often resulting in extensive scarring and significant impacts on quality of life,” said Shireen V. Guide, MD, Mission Dermatology Center. “The observed antitumor responses with KB113 across both injected and non-injected lesions represent encouraging preliminary findings that strongly support its continued clinical development.”
Gorlin Syndrome Pilot Study Clinical Results
KB113 is the low dose of intratumoral KB707 that showed promising early efficacy signals in patients with BCC in the Company’s OPAL-1 Phase 1/2 study, an open label, multicenter, dose escalation and expansion Phase 1/2 study in patients with injection-accessible solid tumors. The Gorlin Syndrome Pilot Study was a multicenter, single-arm, open label study designed to evaluate the safety and preliminary efficacy of KB113 for the treatment of BCCs in patients with Gorlin syndrome. Three adult patients with Gorlin syndrome were enrolled in the study. All three patients received six doses of up to 2 mL of 108 PFU/mL KB113 over a period of 14 weeks, with the first two doses spaced two weeks apart followed by dosing once every three weeks. Landmark lesions, defined as facial BCCs ≥5 mm in diameter or non-facial BCCs ≥9 mm in diameter, were identified by the investigator and visually assessed for clinical regression throughout the 14-week treatment period and again 30 days after the final dose using a pre-specified, investigator-assessed 5-point clearance scale. The scale categorizes each lesion by magnitude of regression. Only landmark lesions were eligible for injection with KB113. The investigator selected which landmark lesions to inject, irrespective of anatomical location, and determined the injection volume for each lesion based on its clinical presentation. Additional details on the OPAL-1 study can be found at www.clinicaltrials.gov under NCT identifier: NCT05970497.
Regression of landmark lesions was observed as early as two weeks after initiation of treatment, with responses broadening and deepening over time. At the final assessment conducted 30 days after last dose, over 80% of all assessed landmark lesions had regressed. Over half of all landmark lesions demonstrated greater than 50% clinical regression, and a subset demonstrated at least 90% clinical regression, as assessed using the investigator-assessed 5-point clearance scale. Substantial regression was observed in lesions that had never been directly injected, providing preliminary evidence of an abscopal effect.
Details on response rates at the final assessment are summarized below:
Combined Results for All Three Gorlin Syndrome Patients
Clinical RegressionInjectedNon-InjectedOverallAny clinical regression in lesion size*29/36 (80.6%)40/47 (85.1%)69/83 (83.1%)> 50% clinical regression**15/36 (41.7%)27/47 (57.4%)42/83 (50.6%)≥ 90% clinical regression4/36 (11.1%)4/47 (8.5%)8/83 (9.6%)* Inclusive of lesions with > 50% clinical regression
** Inclusive of lesions with ≥ 90% clinical regression
To further assess clinical regression, one injected lesion from each patient that had achieved at least 90% clinical regression was biopsied. All three biopsied lesions demonstrated histologically confirmed complete response, with no evidence of residual tumor tissue.
Consistent with prior experience in the low dose escalation cohort of OPAL-1, KB113 was well tolerated by all three patients enrolled in the Gorlin Syndrome Pilot Study. All reported adverse events were mild or moderate in severity, transient, and resolved during the study.
“The breadth and depth of responses reported today on landmark lesions located in various parts of the patient’s body showcase the systemic immune-activating potential of HSV-1 encoded IL-2 and IL-12 and have exciting implications for Krystal and the many patients we aim to serve,” said Suma Krishnan, President of Research and Development at Krystal Biotech. “Leveraging our extensive HSV-1 dataset and clinical experience, we believe there is an opportunity to quickly advance our newly announced program for Gorlin syndrome and further our commitment to patients suffering from skin diseases.”
The Company has initiated discussions with the United States Food and Drug Administration (FDA) regarding the advanced clinical development of KB113 for the treatment of Gorlin syndrome. The Company will provide an update on its clinical development plans following alignment with the FDA.
A poster summarizing the Gorlin Syndrome Pilot Study results will be presented by study investigator Dr. Guide at the 14th Pediatric Dermatology Research Alliance (PeDRA) Annual Conference, October 15-17, 2026 in Alexandria, Virginia. The poster is available to view online on the Investor section of the Company’s website.
About Krystal Biotech, Inc.
Krystal Biotech, Inc. (NASDAQ: KRYS) is a fully integrated, commercial-stage, global biotechnology company focused on the discovery, development and commercialization of genetic medicines to treat diseases with high unmet medical needs. VYJUVEK®, the Company’s first commercial product, is the first-ever redosable gene therapy and the first genetic medicine approved in the United States, Europe, and Japan for the treatment of dystrophic epidermolysis bullosa. The Company is rapidly advancing a robust preclinical and clinical pipeline of investigational genetic medicines. Krystal Biotech is headquartered in Pittsburgh, Pennsylvania. Visit www.krystalbio.com to learn more or follow us on LinkedIn and X.
Forward-Looking Statements and Disclosures
This press release contains “forward looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on the Company’s current expectations and beliefs regarding its product candidate, KB113, for the treatment of patients with Gorlin syndrome. These forward-looking statements include, without limitation, statements relating to the systemic immune-activating potential of KB113; the potential of KB113 as a treatment for Gorlin syndrome; the Company’s plans to continue development of KB113 and its discussions with the FDA regarding the clinical development of KB113; an opportunity to quickly advance the KB113 program for Gorlin syndrome; and the Company’s plans to provide an update on its clinical development plans for KB113 following alignment with the FDA. All statements other than historical facts are or may be deemed to be forward-looking statements and involve known and unknown risks, uncertainties, and assumptions that could cause actual results to differ materially from those indicated by such forward-looking statements as a result of various important factors, including uncertainties inherent in the initiation and conduct of clinical trials and in regulatory review of clinical trials and applications for marketing approvals; whether results of early clinical trials, including results observed in a small number of patients, will be indicative of the results of later-stage studies; and such other important factors as are set forth under the caption “Risk Factors” in the Company’s annual and quarterly reports on file with the U.S. Securities and Exchange Commission. The Company provides this information as of the date of this press release and assumes no obligation to update any forward-looking statements.
KB113 is an investigational product candidate. The safety and efficacy of KB113 have not been established, and it has not been approved by the FDA or any other regulatory authority.
Recurrent Energy zahájila komerční provoz solárního projektu Villameca ve Španělsku s výkonem 200 MWp, který by měl ročně vyrobit 359 172 MWh elektřiny.
Recurrent Energy is expected to have approximately 1 GW of solar capacity in operation in Spain by the end of the year, further strengthening its presence in the country and contributing to the ongoing energy transition.
, /PRNewswire/ -- Recurrent Energy, a subsidiary of Canadian Solar Inc. ("Canadian Solar") (NASDAQ: CSIQ) and a leading global developer, owner, and operator of solar and energy storage assets, has announced the start of commercial operations at the Villameca Project, a major solar portfolio located in the Region of Castilla y León, Spain.
The Villameca Project is a solar photovoltaic (PV) plant with a capacity of 200 MWp and is expected to generate approximately 359,172 MWh of clean electricity annually, enough to power more than 100,000 homes and avoid approximately 57,000 tons of CO₂ emissions each year—equivalent to removing more than 12,000 internal combustion vehicles from the road. The project joins the recently inaugurated 426 MWp Rey Solar Project in Andalucía and the 315 MWp Tordesillas Project in Castilla y León, which is expected to be connected later this year. With these three projects, Recurrent Energy's total operational solar capacity in Spain is expected to reach approximately 1 GW by year-end.
Dylan Marx, CEO of Recurrent Energy, said: "The achievement of commercial operation at Villameca marks an important milestone for Recurrent Energy and strengthens our position in Europe. As we continue to grow our renewable energy portfolio, we remain committed to creating lasting value in the communities where we operate. We are particularly proud of this project's impact and the high level of social and biodiversity commitments achieved throughout its development."
During the permitting and construction phases, the project was awarded UNEF's Seal of Excellence, recognizing that the plant was designed and developed in accordance with high sustainability standards. Through Recurrent Energy's Community CaRE program, it supports local development through community facilities, educational improvements, and social initiatives. The project also promotes biodiversity through habitat restoration, native vegetation planting, and measures to protect local wildlife, including nesting structures, bat boxes, and insect hotels.
The Villameca Project is expected to be hybridized with battery energy storage systems, further supporting decarbonization efforts and enhancing grid stability. The company recently announced the grid connection of Montalto La Viola, one of Italy's first solar-plus-storage hybrid projects, further strengthening Recurrent Energy's expertise in developing and delivering hybrid renewable energy projects across Europe.
About Recurrent Energy
Recurrent Energy, a subsidiary of Canadian Solar Inc., is one of the world's largest and most geographically diversified utility-scale solar and energy storage project development, ownership, and operations platforms. With an industry-leading team of in-house energy experts, Recurrent Energy serves as Canadian Solar's global development and power services business. Additional details are available at www.recurrentenergy.com.
About Canadian Solar
Canadian Solar is one of the world's largest solar technology and renewable energy companies. Founded in 2001 and headquartered in Kitchener, Ontario, the Company is a leading manufacturer of solar photovoltaic modules; provider of solar energy and battery energy storage solutions; and developer, owner, and operator of utility-scale solar power and battery energy storage projects. Over the past 25 years, Canadian Solar has successfully delivered nearly 180 GW of premium-quality solar photovoltaic modules to customers across the world. Through its energy storage solutions business e-STORAGE, Canadian Solar has shipped over 23 GWh of battery energy storage solutions to global markets and had a contracted backlog of $3.5 billion as of June 30, 2026. Since entering the project development business in 2010, Canadian Solar has developed, built, and connected approximately 12.4 GWp of solar power projects and 6.4 GWh of battery energy storage projects globally. Its geographically diversified project development pipeline includes approximately 22 GWp of solar and 84 GWh of battery energy storage capacity in various stages of development. Canadian Solar is one of the most bankable companies in the solar and renewable energy industry, having been publicly listed on the NASDAQ since 2006. For additional information about the Company, follow Canadian Solar on LinkedIn or visit www.canadiansolar.com.
Safe Harbor/Forward-Looking Statements
Certain statements in this press release, including those regarding the Company's expected future shipment volumes, revenues, gross margins, and project sales are forward-looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially. These statements are made under the "Safe Harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by such terms as "may", "will", "expect", "anticipate", "future", "ongoing", "continue", "intend", "plan", "potential", "prospect", "guidance", "believe", "estimate", "is/are likely to" or similar expressions, the negative of these terms, or other comparable terminology. These forward-looking statements include, among other things, our expectations regarding global electricity demand and the adoption of solar and battery energy storage technologies; our growth strategies, future business performance, and financial condition; our transition to a long-term owner and operator of clean energy assets and expansion of project pipelines; our ability to monetize project portfolios, manage supply chain fluctuations, and respond to economic factors such as inflation and interest rates; our outlook on government incentives, trade measures, regulatory developments, and geopolitical risks; our expectations for project timelines, costs, and returns; competitive dynamics in solar and storage markets; our ability to execute supply chain, manufacturing, and operational initiatives; access to capital, debt obligations, and covenant compliance; relationships with key suppliers and customers; technological advancement and product quality; and risks related to intellectual property, litigation, and compliance with environmental and sustainability regulations. Other risks were described in the Company's filings with the Securities and Exchange Commission, including its annual report on Form 20-F filed on April 10, 2026. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, level of activity, performance, or achievements. Investors should not place undue reliance on these forward-looking statements. All information provided in this press release is as of today's date, unless otherwise stated, and Canadian Solar undertakes no duty to update such information, except as required under applicable law.
Canadian Solar Inc. Investor Relations Contact
Wina Huang
Investor Relations
Canadian Solar Inc.
[email protected]
Recurrent Energy Media Inquiries
Inés Arrimadas
Recurrent Energy
[email protected]
Equinor (EQNR.OL) is abandoning plans to install a second electric export compressor on its Troll C platform in the North Sea, preventing a drop in output from Europe's largest natural gas field in 2027 and 2028, the Norwegian company said.
Installing the second compressor would have required an extensive modification period, resulting in reduced production from Troll C for up to 21 months
Decision makes around 2.3 billion standard cubic metres of additional gas available to the European market in 2027 and 2028, Equinor said
"This corresponds to approximately two years of gas consumption for around one million European households"
But by not installing the compressor, CO2 emissions from the field will be higher than if the installation took place as planned in 2021
The original installation plan called for compensating a loss of gas output by increasing production from Troll A, but the field is now producing at maximum capacity throughout the year and is thus unable to do so
Key Takeaways EQNR signs a five-year deal with Eneco to supply 9 TWh of Norwegian natural gas annually to the Netherlands.The agreement, effective Oct. 1, 2026, marks the third gas supply deal between Equinor and Eneco this year.Equinor's gas has a lower lifecycle emissions footprint than the Dutch grid average, with tracking enabled.
Equinor ASA (EQNR - Free Report) , a Norwegian integrated energy company, has signed a five-year agreement with the Dutch energy firm Eneco for the supply of natural gas. This marks the third supply agreement between the two companies this year. Per the terms of the agreement, EQNR will deliver about 9 terawatt-hours (TWh) of natural gas per year, which is equivalent to nearly 0.9 billion cubic meters (bcm), from the Norwegian Continental Shelf (“NCS”) to the power grid in the Netherlands.
The natural gas supplies associated with this contract began on Oct. 1, 2026. However, the financial details of the deal have not been disclosed yet. The agreement between Equinor and Eneco also includes a provision to track the environmental attributes and greenhouse gas emissions of the Norwegian natural gas being supplied. The agreement stated that Eneco can track its origin and monitor the greenhouse gas emissions generated, using a digital platform operated by Attributes SA. Equinor highlighted that the natural gas supplied under this agreement has an 11.8% lower lifecycle greenhouse gas footprint than the Dutch grid average.
The deal highlights Equinor’s importance in the European gas market. EQNR is a leading supplier of piped gas to Europe, playing a critical role in the region’s energy security. For Eneco, the deal will allow it to provide a reliable natural gas supply from the NCS to residents in the Netherlands, while taking into account its upstream emissions footprint.
EQNR’s Zacks Rank & Other Key PicksEQNR currently sports a Zacks Rank #1 (Strong Buy).
Some other top-ranked stocks from the energy sector are PBF Energy (PBF - Free Report) , Valero Energy (VLO - Free Report) and Galp Energia SGPS SA (GLPEY - Free Report) , each sporting a Zacks Rank #1 at present. You can see the complete list of today’s Zacks Rank #1 stocks here.
PBF Energy has a geographically diverse refining network with large-scale processing capacity and a highly complex refining system. It operates six refineries, including Delaware City Refinery, Paulsboro Refinery, Toledo Refinery, Chalmette Refinery, Torrance Refinery and Martinez Refinery, with a combined throughput capacity of 1 million barrels per day and the ability to process a wide range of feedstocks. The diversified refining footprint provides the company exposure to several regional refining markets, supporting higher margins.
Valero Energy is a leading refining player with a robust network of 14 refineries and a combined high-complexity throughput capacity of 3 million barrels per day, which distinguishes it from other independent refiners. VLO’s refineries have a combined Nelson Complexity Index of 11.5, which implies that the refineries can process a wide variety of feedstocks, convert them into higher-value products and shift product yields according to market conditions.
Galp Energia is a Portuguese energy company engaged in exploration and production activities. The company’s oil exploration efforts have yielded positive results, particularly with the Mopane discovery in the Orange Basin, offshore Namibia. This discovery allows Galp to diversify its global presence with the potential to become a significant oil producer in the region. It refines and markets oil products and gas, as well as engages in marketing and sales activities.
CNX Resources Corporation. (NYSE:CNX – Get Free Report)’s share price passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $35.28 and traded as high as $35.36. CNX Resources shares last traded at $34.8560, with a volume of 1,404,781 shares trading hands.
Analysts Set New Price Targets CNX has been the subject of a number of recent analyst reports. Weiss Ratings downgraded CNX Resources from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, July 28th. Truist Financial raised CNX Resources from a “sell” rating to a “hold” rating and set a $35.00 price objective for the company in a research report on Wednesday, July 15th. Scotiabank assumed coverage on CNX Resources in a report on Wednesday. They issued a “sector perform” rating and a $34.00 price objective on the stock. Finally, Morgan Stanley dropped their price objective on CNX Resources from $34.00 to $32.00 and set an “underweight” rating on the stock in a report on Monday, June 29th. Eight research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $34.62.
Read Our Latest Stock Report on CNX
CNX Resources Stock Down 1.4% The firm’s 50-day moving average price is $34.89 and its two-hundred day moving average price is $35.28. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.67 and a current ratio of 0.72. The firm has a market cap of $5.16 billion, a PE ratio of 5.82 and a beta of 0.69. CNX Resources (NYSE:CNX – Get Free Report) last posted its earnings results on Thursday, July 30th. The oil and gas producer reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.72. CNX Resources had a net margin of 36.53% and a return on equity of 10.40%. The firm had revenue of $618.48 million for the quarter, compared to the consensus estimate of $475.16 million. During the same period last year, the firm posted $2.43 EPS. The company’s revenue was down 35.7% on a year-over-year basis. As a group, equities research analysts expect that CNX Resources Corporation. will post 3.12 EPS for the current fiscal year.
Hedge Funds Weigh In On CNX Resources Large investors have recently bought and sold shares of the stock. Allworth Financial LP increased its holdings in shares of CNX Resources by 5.5% in the 2nd quarter. Allworth Financial LP now owns 6,144 shares of the oil and gas producer’s stock valued at $208,000 after acquiring an additional 323 shares during the period. QRG Capital Management Inc. boosted its stake in CNX Resources by 2.3% during the 2nd quarter. QRG Capital Management Inc. now owns 19,987 shares of the oil and gas producer’s stock worth $678,000 after purchasing an additional 440 shares during the period. Farther Finance Advisors LLC boosted its stake in CNX Resources by 18.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,006 shares of the oil and gas producer’s stock worth $94,000 after purchasing an additional 472 shares during the period. Petra Financial Advisors Inc. boosted its stake in CNX Resources by 1.1% during the 1st quarter. Petra Financial Advisors Inc. now owns 55,393 shares of the oil and gas producer’s stock worth $2,135,000 after purchasing an additional 621 shares during the period. Finally, Brown Miller Wealth Management LLC grew its position in CNX Resources by 7.9% during the 1st quarter. Brown Miller Wealth Management LLC now owns 10,510 shares of the oil and gas producer’s stock worth $405,000 after purchasing an additional 771 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.
CNX Resources Company Profile (Get Free Report)
CNX Resources Corporation (NYSE: CNX) is an independent natural gas exploration and production company focused primarily on developing unconventional natural gas reserves in the Appalachian Basin. Its operations are concentrated in the Marcellus and Utica shale formations, where it uses horizontal drilling and hydraulic fracturing to produce pipeline-quality natural gas.
The company’s activities include acquiring, developing and operating natural gas properties, as well as managing related gathering and infrastructure assets.
Further Reading Five stocks we like better than CNX Resources Tesla Wants to Make Its Own Chips—What Could Go Wrong? IREN Limited’s AI Pivot Gains Traction—But Can Its Data Centers Deliver? PBF Energy’s Stunning Rally Faces a Critical Test Citi Stock Falls Despite Earnings Beat: What Investors Need to Know Receive News & Ratings for CNX Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CNX Resources and related companies with MarketBeat.com's FREE daily email newsletter.
Tesla ve čtvrtek představí přepracovaný Roadster, téměř devět let po představení prototypu v roce 2017; vůz měl původně stát 200 000 USD a jeho dodávky měly začít v roce 2020.
Tesla (TSLA.O) is set to unveil its redesigned Roadster on Thursday, nearly nine years after it first showed a next-generation version of its electric sports car.
Tesla revealed a prototype of the $200,000 car in 2017 and said deliveries would begin in 2020. The price has not been updated but reservations are still $50,000 each.
Chief Executive Elon Musk has played down the car's importance to Tesla's finances, describing it in 2023 as a "small potato situation" that would not "move the needle in a major way financially."
But the car still carries symbolic weight.
"Tesla does not currently have a halo car, or high-performance luxury vehicle designed to showcase an automaker's best engineering and technology. The Roadster will be Tesla's new halo car," Morningstar analyst Seth Goldstein said in a note last month.
Musk set expectations in 2017, saying a four-seat Roadster would travel 620 miles (1,000 km) on a single charge. In 2024, he posted on X that it had been redesigned. The new Roadster would accelerate from 0 to 60 miles per hour (100 km per hour) in less than a second. "And that is least interesting part," he wrote, adding it was a collaboration between Tesla and SpaceX (SPCX.O), the rocket company Musk also leads.
Goldstein expects Tesla to sell around 2,000 Roadsters a year — a fraction of the 1.6 million vehicles Tesla sold last year.
The original Roadster, released in 2008 and on sale until 2012, was Tesla's first-ever EV and used a Lotus Elise chassis. It helped change the world's view of what an electric vehicle could be. The company has since been known for its Model Y and Model X SUVs and Model S and Model 3 sedans.
The reveal of the second-generation Roadster also comes amid a sharp shift in Tesla's focus to artificial intelligence-led self-driving tech and robotics, from manufacturing cars for human drivers.
This year, Tesla stopped selling Model S and X vehicles to make space for production of its Optimus humanoid robots. It also launched Cybercab - a two-seater robotaxi that comes without manual controls such as a steering wheel, pedals and mirrors.
The Roadster event is set to start at 8:55 p.m. EDT (0055 GMT) on Thursday at a SpaceX test site in McGregor, Texas.
Microsoft (MSFT -1.80%) has had a challenging past 12 months, as many investors think that artificial intelligence (AI) will displace the services that many software corporations, including Microsoft, provide. However, the tech giant has roared back over the past three months.
During the third quarter of the calendar year, the company's shares gained almost 38%, its best quarterly performance since 1998. It would have been nice to buy Microsoft's shares three months ago, before its third-quarter run, but is there any more upside from current levels? Let's find out.
Image source: The Motley Fool. Image source: The Motley Fool.
Why Microsoft bounced backMicrosoft stock hit a fresh 52-week low around late June. About a month later, the company released its fourth-quarter update for its fiscal year 2026, which ended on June 30. Microsoft's results were excellent, coming up ahead of analyst estimates.
The company's revenue increased by 18% year over year to $90 billion. Microsoft's operating income jumped 18% year over year to $40.6 billion, while its non-GAAP earnings per share came in at $4.74, 23% higher than the year-ago period. Microsoft's strong performance was largely due to its AI and cloud computing businesses, which helped dispel fears that the company's services would eventually lose out to AI.
Quite the opposite is happening. Microsoft is capitalizing on AI by launching tools that cater to its clients. That includes AI agents that automate tasks and boost the productivity of the businesses that depend on Microsoft's tools in their day-to-day activities.
Of course, Microsoft offers plenty of cloud services beyond AI. During the company's fourth quarter, revenue from Microsoft Azure (its cloud computing platform) grew 43% year over year. Azure sales exceeded $100 billion during Microsoft's fiscal year 2026 for the first time. Microsoft's entire cloud business -- including Azure and other segments -- posted $59.3 billion in revenue during the company's Q4, up 27% year over year.
The company ended the quarter with $678 billion in cloud commercial remaining performance obligations, up 84% year over year. So, it isn't just that Microsoft performed well. The company's massive backlog signals sustained demand for its cloud services, and that's great news for the company's medium-term prospects. That's why Microsoft's shares have been rebounding.
What the future may holdWe may be entering the next wave of AI, one that increasingly features agentic systems that can help people and businesses accomplish tasks and work toward goals. Microsoft is in a solid position to capitalize on this, as it has already started launching agents. The company's strengths that have enabled it to become one of the leaders in the cloud computing market will remain hugely important.
These strengths include long-standing relationships with millions of enterprises that use its products every day. Microsoft can integrate new services across the products its clients already use. In fact, as the company pointed out in its fourth-quarter update, Microsoft 365 Copilot -- a suite of AI assistants built into apps like Word and Excel that can automate various tasks -- ended the period with more than 30 million paid seats.
Further, the company has a culture of innovation and generates significant cash flow that can help it stay ahead of rapid technological change, such as the one we are experiencing with AI. Microsoft has already spent a fortune on capex to keep up its AI build-out, and we can expect the company to continue doing so. Some may see that as a bad sign, but Microsoft's financial results strongly suggest that the investment is worth it.
In my view, the company still has significant opportunities in cloud computing and AI, and additional investments are more than justified, especially if they lead to margin gains down the line. Microsoft is increasingly relying on its internally developed Maia series of custom chips, which, as the company has pointed out, leads to better performance per watt when running its MAI foundation AI models.
These are all good reasons Microsoft's prospects look bright, and it's also worth noting that the stock doesn't look prohibitively expensive. Microsoft is trading at 25.1x forward earnings, versus an average of 20.9x for information technology stocks. The company is worth a premium given its outstanding position in AI and cloud computing, wide moat from switching costs, and significant growth prospects. So, even after its recent run, Microsoft stock is a buy.
Agentic artificial intelligence (AI) has come to consumers. Anthropic may have been one of the first AI labs to develop popular AI agents in the form of Claude Code and Claude Cowork, but Meta Platforms (META -3.27%) has found a hit with consumers as its Muse AI app sets new download records. OpenAI was quick to respond with its own consumer agent, Dots.
Agentic AI requires much more computing power than a simple chatbot or other large language model (LLM) interfaces. It's continuously running in the background, looking to close open tasks or update ongoing tasks, all with minimal human intervention. That stands to benefit all semiconductor stocks, but there's one chipmaker in particular that could see outsize benefit from the growth of agentic AI: Advanced Micro Devices (AMD -5.73%). Select Wall Street analysts see plenty of upside left for the chipmaker, with some recent upgrades for the trillion-dollar stock.
Image source: Getty Images.
Agentic AI could be huge for this chipmaker
The compute needs for agentic AI are a bit different than what it takes for standard LLM inference or training. For agentic AI to function well, it needs chips that can orchestrate models and provide step-by-step instructions for what to do next. That's a process best handled by a CPU (central processing unit), not by a GPU (graphics processing unit) or another specialized chip.
AMD is the leading data center CPU maker, overtaking Intel in 2024. That lead could continue to expand, as AMD is capable of combining CPUs with GPUs into a complete solution. Meta signed a deal with AMD earlier this year that spans both its GPUs and CPUs, as well as its rack-scale systems that combine both into a single unit, along with storage and networking equipment.
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AMD recently released a CPU-only rack, Helion, designed specifically for agentic AI infrastructure. The move could help its partners quickly scale up its CPU servers to match their needs for agentic AI.
AMD's push to sell more rackscale systems is seen as a catalyst for its growth. BNP Paribas analyst Karl Ackerman cited its full-stack across AI data center needs in his note on AMD earlier this month, while raising his price target to $960, upside of almost 60% for the stock from a recent price of $606. Citigroup analyst Atif Malik points to its close relationship with Meta and the success of Muse as signs of more growth to come. He raised his price target to $800. Mizuho analysts also see agentic AI driving data center CPU demand to the benefit of AMD. They put a price target of $705 on the stock.
Is the stock a buy?
Sell-side analysts can be an optimistic bunch, and it's best for investors to do their own homework and analyze the future opportunities and expectations for a company before buying a stock.
The growth opportunity for AMD is vast, especially as the combination of proficient CPUs and GPUs in a rackscale system becomes more appealing in the agentic AI era. Of course, it's not the only company competing in the sector. Nvidia (NVDA -3.16%) also makes rackscale solutions, and while its CPUs might not be on the same level as AMD's, its GPUs are best in class -- and the workhorse of AI data centers. Still, AMD should be able to maintain a healthy market share thanks to its CPUs and buyers' need to maintain a secondary source of GPUs to hedge against Nvidia in price negotiations.
That's pushed the stock price 180% higher so far this year, taking its total market cap above $1 trillion. Its price-to-earnings (P/E) ratio now stands at about 77 times forward earnings expectations. Despite the strong earnings growth forecasts, the stock trades at about 25 times estimated fiscal 2028 earnings. If you think analysts are still lowballing the opportunity ahead for AMD thanks to agentic AI, the stock could be a great value at the current price despite the premium price tag. On the other hand, expectations for the company are already high, and that's reflected in its stock price. Other chipmakers trade at much more attractive valuations, even with their own strong growth outlooks.
Citigroup is an advertising partner of Motley Fool Money. Adam Levy has positions in Meta Platforms. The Motley Fool has positions in and recommends Advanced Micro Devices, Intel, Meta Platforms, and Nvidia. The Motley Fool has a disclosure policy.
Jefferies zahájila pokrývání Netflixu (NFLX) doporučením „koupit“ a cílovou cenou 85 USD, což oproti poslední závěrečné ceně 70,57 USD představuje potenciál růstu o více než 20 %.
Netflix (NASDAQ: NFLX) stock just got a major thumbs up five days ahead of the upcoming earnings report, with Jefferies initiating coverage of the streaming platform with a “Buy” rating and a price target of $85.
The new price implies an upside of more than 20% from the stock’s last closing price of $70.57, and the capital firm says it sees opportunities for sustained earnings growth thanks to higher subscription prices, advertising expansion, and improving operating margins.
Analyst John Colantuoni projects that these growth drivers could deliver annual earnings-per-share growth of more than 14% over the next decade. Likewise, he expects per-member revenue to increase by roughly 6%, which is more than half of the projected annual revenue growth of 11% between 2026 and 2029.
Following the call, NFLX shares rose 0.62% in pre-market trading, which, combined with yesterday’s modest 0.16% uptick, pushed the price to exactly $71 in pre-market hours.
NFLX stock price one-day chart. Source: Google Finance Ads and subscription prices will prop Netflix stock prices, Jefferies says As Colantuoni noted, Netflix’s standard subscription currently costs 60% less than competing services in the U. S. per viewing hour. Looking ahead, he expects that gap to narrow to 50% by 2029, if annual prices can increase by around 7%.
Similarly, ads are expected to provide another significant growth engine. Colantuoni himself forecasts advertising revenue will rise by around 35% annually, supported by subscriber growth, increased advertising loads, stronger third-party demand, and new ad formats.
However, any valuation argument will rest on Netflix’s ability to translate its global subscriber base and growing advertising business into higher revenue and profitability.
Netflix earnings now in focus Netflix is scheduled to report its third-quarter results on October 20. Overall, analyst views remain broadly constructive and are in line with those given by Jefferies, but some reflect caution about profitability.
For example, KeyBanc has lowered its Netflix price target to $85, citing foreign-exchange headwinds and more modest operating-margin expansion amid continued content investment. Still, the firm maintained its “Overweight” rating.
Overall, with Jefferies identifying substantial potential for higher monetization and sustained earnings growth, the market is likely to focus on subscriber trends, advertising revenue growth, pricing, and operating-margin expansion when Netflix releases its earnings report.
Featured image via Shutterstock
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Mastercard a BVNK spustily Global Money Platform, která prostřednictvím jediného API propojuje fiat měny a stablecoiny pro platby, konverze a správu finančních prostředků.
The new platform brings together fiat and stablecoin capabilities, making it easier to move and manage any form of money.
PURCHASE, N.Y. & LONDON--(BUSINESS WIRE)--Mastercard and BVNK today announced the launch of Mastercard Global Money Platform, bringing together Mastercard’s global payments capabilities with BVNK’s stablecoin infrastructure through a single API. The launch marks the first major integration of Mastercard and BVNK capabilities since the acquisition of BVNK in August 2026.
Global Money Platform is a full-stack, modular toolkit spanning send, receive, convert, store, spend and earn, designed for a multi-money future, where new forms of money, networks and payment models continue to emerge.
Share Global Money Platform provides a full-stack, modular infrastructure layer for modern finance. Banks, fintechs and enterprises can now embed multi-currency accounts, including fiat and stablecoins, real-time conversion, stablecoin-linked cards and local bank payouts through Mastercard Move into their own products and under their own brand. They can also use the platform to manage their own treasury, payments and settlement activity directly.
Customers can start with the capabilities they need and add more as they become available, reducing the need to integrate separate providers for each part of the money journey.
Payments leader Nuvei and modern card issuing platform Marqeta will be among the first to integrate Global Money Platform, alongside Ontop, Beem and Almond FinTech. The platform will enable customers to move more seamlessly between traditional currencies and stablecoins while expanding choice in how they accept, manage and move money across markets.
Consider a manufacturing business receiving multiple currencies and paying out global suppliers. Managing those flows today means juggling separate accounts, vendors and pre-funded balances across markets — tying up working capital and slowing down operations. Mastercard Global Money Platform simplifies that experience, giving businesses a single place to manage liquidity, move between fiat currencies and stablecoins, and handle receivables and payouts.
One platform, multiple forms of money
At the center of Global Money Platform is the global money account: a multi-currency account where fiat and stablecoins can sit side by side, with conversion between the two through a single API. The platform gives users flexibility in how they manage and move funds across stablecoins and fiat currencies through a single integration, alongside configurable rewards and other account features. Fintechs and technology platforms can embed these accounts into their platforms to give customers one place to hold, convert and pay out earnings.
The platform also integrates Mastercard Move, Mastercard’s portfolio of global money movement capabilities reaching more than 17 billion endpoints, enabling users to leverage stablecoin balances to make local currency payments directly into recipients’ local bank account, with coverage expected to expand to more than 40 currencies across 200-plus countries and territories in 2027.
Global Money Platform customers will be able to spend their stablecoin balances across Mastercard’s global acceptance network of hundreds of millions of merchant locations, with card issuing available across 130-plus countries.
Preparing for what’s next
Global Money Platform is a full-stack, modular toolkit spanning send, receive, convert, store, spend and earn, designed for a multi-money future, where new forms of money, networks and payment models continue to emerge. This includes future support for agentic commerce and additional regulated forms of money including tokenized deposits.
Mastercard Global Money Platform is available now through BVNK.
Quote Sheet
“The future of global commerce depends on money moving as freely as the businesses and consumers it serves, across borders, currencies and increasingly, between traditional and digital forms of money,” said Phil Fayer, chair and CEO, Nuvei. “Stablecoins are becoming an increasingly important part of that future, and our work with Mastercard and BVNK will help us bring these capabilities to more businesses, giving them greater choice and flexibility in how they manage and move money around the world.”
“With Global Money Platform, we’re delivering on our promise to connect BVNK’s technology with the scale and trust of Mastercard,” said Chris Harmse, co-founder and chief business officer at BVNK. “Global Money Platform will become the single infrastructure layer not just for stablecoins, but for every form of money. It will mean that enterprise customers like Nuvei, Ontop Beem and Almond Fintech can build global financial products at scale, without having to build the underlying infrastructure together themselves.”
Raj Dhamodharan, executive vice president, Blockchain and Digital Assets at Mastercard, added: “We believe the future of commerce will be built on interoperability across multiple forms of money. Global Money Platform brings together Mastercard’s trusted payment infrastructure and reach with BVNK’s stablecoin capabilities, giving businesses a single foundation to move value across traditional and digital ecosystems. This is an important step in bringing our multi-money strategy to life and enabling the next generation of programmable and agentic commerce.”
About BVNK
BVNK is the stablecoin-powered financial stack for enterprises, now part of Mastercard. Build financial products, unlock new markets, and move money in seconds across 130+ countries. Trusted by industry leaders like Corpay, Worldpay, Deel and Marqeta and processing billions annually.
About Mastercard
Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we’re building a resilient economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential.
Pfizer ve čtvrtletí překonal odhady: zisk na akcii (EPS) dosáhl 0,77 USD a tržby činily 15,03 miliardy USD. Konsenzus 21 analytiků zůstává na doporučení „držet“ s průměrnou cílovou cenou 28,72 USD.
Pfizer Inc. (NYSE:PFE – Get Free Report) has received a consensus recommendation of “Hold” from the twenty-one brokerages that are currently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, fourteen have issued a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $28.72.
PFE has been the subject of a number of analyst reports. Bank of America dropped their price target on shares of Pfizer from $27.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, July 10th. BMO Capital Markets reduced their price target on Pfizer from $34.00 to $30.00 and set an “outperform” rating on the stock in a research report on Monday, July 13th. Wall Street Zen lowered Pfizer from a “buy” rating to a “hold” rating in a research note on Saturday, October 10th. Cantor Fitzgerald lifted their price objective on Pfizer from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, October 8th. Finally, Weiss Ratings raised Pfizer from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, August 31st.
Read Our Latest Analysis on PFE
Pfizer Price Performance Shares of Pfizer stock opened at $29.22 on Thursday. Pfizer has a twelve month low of $23.62 and a twelve month high of $29.49. The company has a quick ratio of 0.96, a current ratio of 1.27 and a debt-to-equity ratio of 0.71. The company has a 50-day simple moving average of $27.88 and a two-hundred day simple moving average of $26.53. The stock has a market capitalization of $166.53 billion, a price-to-earnings ratio of 38.44, a price-to-earnings-growth ratio of 1.93 and a beta of 0.32. Pfizer (NYSE:PFE – Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.09. Pfizer had a net margin of 6.80% and a return on equity of 19.63%. The firm had revenue of $15.03 billion during the quarter, compared to the consensus estimate of $14.40 billion. During the same quarter in the previous year, the firm posted $0.78 EPS. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. Pfizer has set its FY 2026 guidance at 2.800-3.000 EPS. Analysts forecast that Pfizer will post 2.95 EPS for the current year.
Pfizer Announces Dividend The business also recently declared a quarterly dividend, which will be paid on Monday, December 7th. Investors of record on Friday, November 6th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date of this dividend is Friday, November 6th. Pfizer’s payout ratio is 226.32%.
Institutional Investors Weigh In On Pfizer Large investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in Pfizer by 6.3% during the second quarter. BlackRock Inc. now owns 529,670,433 shares of the biopharmaceutical company’s stock valued at $12,754,464,000 after acquiring an additional 31,412,883 shares during the last quarter. State Street Corp raised its stake in shares of Pfizer by 1.8% in the second quarter. State Street Corp now owns 307,090,897 shares of the biopharmaceutical company’s stock valued at $7,394,749,000 after acquiring an additional 5,501,032 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Pfizer by 7.4% in the second quarter. Bank of New York Mellon Corp now owns 57,879,546 shares of the biopharmaceutical company’s stock valued at $1,393,739,000 after acquiring an additional 3,999,646 shares during the period. Bank of America Corp DE bought a new stake in shares of Pfizer in the 2nd quarter worth about $1,049,602,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Pfizer by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 36,422,799 shares of the biopharmaceutical company’s stock worth $1,022,606,000 after acquiring an additional 293,029 shares during the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.
Key Stories Impacting Pfizer Here are the key news stories impacting Pfizer this week:
Positive Sentiment: Pfizer said it will present data from more than 50 abstracts at IDWeek 2026, including updates on its Lyme vaccine, next-generation pneumococcal vaccine, RSV and COVID-19 programs. The breadth of the upcoming data could reinforce confidence in Pfizer’s infectious-disease pipeline. Pfizer Showcases Clinical Advancements Across Infectious Diseases at IDWeek 2026 Positive Sentiment: A next-generation pneumococcal vaccine has entered a key Phase 3 trial, potentially expanding Pfizer’s future vaccine revenue opportunities. Pfizer’s Next-Gen Pneumococcal Shot Enters Key Phase 3 Test Positive Sentiment: Pfizer entered a research collaboration and licensing agreement with Enodia Therapeutics to discover and develop Sec61-targeting small molecules. The deal adds another external innovation program to Pfizer’s pipeline, although commercial benefits are likely years away. Enodia Therapeutics Announces Research Collaboration and License Agreement with Pfizer Positive Sentiment: Unusually heavy call-option activity and recent purchases by several Pfizer insiders may have supported bullish trading sentiment. Investors are also attracted to the roughly 6% dividend yield and the declared quarterly dividend of $0.43 per share. Neutral Sentiment: Pfizer’s latest reported quarter exceeded earnings and revenue expectations, and management’s 2026 EPS guidance is $2.80–$3.00. However, the company’s outlook remains dependent on pipeline execution and replacing pandemic-related revenue declines. Negative Sentiment: The dividend’s sustainability remains a concern: commentary highlighted a payout ratio above reported earnings, while several analyst price targets cluster between $25 and $28—below the current share price. This could limit upside despite the attractive income yield. Pfizer Company Profile (Get Free Report)
Pfizer Inc (NYSE:PFE) is a global biopharmaceutical company that discovers, develops, manufactures and commercializes prescription medicines and vaccines. Its research and commercial activities focus on areas including oncology, inflammation and immunology, internal medicine, hospital care and vaccines.
The company’s portfolio includes widely used products such as the Prevnar family of pneumococcal vaccines, Ibrance for certain breast cancers, Eliquis for preventing blood clots, Xeljanz for inflammatory conditions, and Vyndaqel for transthyretin amyloidosis.
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EL SEGUNDO, Calif., Oct. 15, 2026 (GLOBE NEWSWIRE) -- Beyond Meat, Inc. (NASDAQ: BYND), also known as Beyond the Plant Protein Company™, today announced its entry into the energy category with Beyond Immerse Protein + Energy, a sparkling protein drink that brings together plant protein, fiber, antioxidants, electrolytes, and caffeine from coffee beans and guarana extract. Available in Cherry Berry and Watermelon Strawberry, Beyond Immerse Protein + Energy is launching exclusively at www.BeyondPlantProtein.com.
The company is also adding three new flavors to its Beyond Immerse lineup: Watermelon Strawberry, available now, and Limoncello Ginger and Yuzu Grapefruit, coming soon. The new flavors join Peach Mango, Strawberry Lemonade, and Cherry Berry, expanding the Beyond Immerse range to six flavors. Together, the beverages bring the superpowers of plants to more moments in the day: Beyond Immerse for when consumers want plant protein, fiber, antioxidants, and electrolytes in one refreshing can, and Beyond Immerse Protein + Energy for that same nutrition with caffeine.
“We believe plants have superpowers, and few are as widely appreciated by consumers as caffeine,” said Ethan Brown, Founder and CEO of Beyond Meat. “As we add energy to the Beyond Immerse portfolio, we are staying true to our approach: great taste and carefully selected, limited ingredients that help consumers thrive.”
Beyond Immerse and Beyond Immerse Protein + Energy feature:
Excellent source of protein with 20g per serving, critical to support muscle healthGood source of fiber with 5g per serving, vital to support a healthy gutExcellent source of antioxidant Vitamin A from Beta-Carotene, essential to support immune functionMade with electrolytesNo GMOsNo dairy Beyond Immerse Protein + Energy also delivers 160mg of caffeine per serving.
The expansion follows the retail introduction of Beyond Immerse in the New York metropolitan area through Big Geyser and its recent launch at Erewhon locations across Southern California.
For more information, visit www.BeyondPlantProtein.com.
About Beyond Meat
Beyond Meat, Inc. (NASDAQ: BYND), otherwise known as Beyond The Plant Protein Company™, is a plant protein company offering a portfolio of plant-based products made with non-GMO ingredients, no added hormones or antibiotics, and 0mg of cholesterol per serving. Founded in 2009, Beyond Meat’s core products are designed to have the same taste and texture as animal-based meat while being better for people and the planet. The company’s brand promise, Eat What You Love®, represents a strong belief that there is a better way to feed our future and that the positive choices we all make, no matter how small, can have a great impact on our personal health and the health of our planet. By shifting from animal-based protein to plant-based protein, we can positively impact four growing global issues: human health, climate change, constraints on natural resources and animal welfare. Visit www.BeyondMeat.com and follow @BeyondMeat on Facebook, Instagram, Threads and LinkedIn.
Beyond Meat Forward-Looking Statements
Certain statements in this release constitute “forward-looking statements.” Th statements are based on management’s current opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results. These forward-looking statements are only predictions, not historical fact, and involve certain risks and uncertainties, as well as assumptions. Actual results, levels of activity, performance, achievements and events could differ materially from those stated, anticipated or implied by such forward-looking statements. While Beyond Meat believes that its assumptions are reasonable, it is very difficult to predict the impact of known factors, and, of course, it is impossible to anticipate all factors that could affect actual results. There are many risks and uncertainties that could cause actual results to differ materially from forward-looking statements made herein including, most prominently, the risks discussed under the heading “Risk Factors” in Beyond Meat’s Annual Report on Form 10-K for the year ended December 31, 2025 filed with the U.S. Securities and Exchange Commission (“SEC”) on April 9, 2026, Beyond Meat’s Quarterly Report on Form 10-Q for the fiscal quarter ended March 28, 2026 filed with the SEC on May 7, 2026, and Beyond Meat’s Quarterly Report on Form 10-Q for the fiscal quarter ended June 27, 2026 filed with the SEC on August 6, 2026, as well as other factors described from time to time in Beyond Meat’s filings with the SEC. Such forward-looking statements are made only as of the date of this release. Beyond Meat undertakes no obligation to publicly update or revise any forward-looking statement because of new information, future events or otherwise, except as otherwise required by law. If Beyond Meat does update one or more forward-looking statements, no inference should be made that Beyond Meat will make additional updates with respect to those or other forward-looking statements.
Media Contact
Melanie Daifotis
[email protected]
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8dca23c3-da14-4eb3-b35e-131a67d88288
Beyond Meat® Launches Beyond Immerse™ Protein + Energy, A Sparkling Protein Drink with Caffeine
Company also adds three new flavors to Beyond Immerse lineup, expanding the range to six flavors.
Macy’s, Inc. (NYSE:M – Get Free Report) has been given an average rating of “Hold” by the thirteen brokerages that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $22.78.
Several equities analysts have recently issued reports on the company. TD Cowen reaffirmed a “hold” rating on shares of Macy’s in a research report on Monday, September 14th. Weiss Ratings upgraded shares of Macy’s from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. BTIG Research reaffirmed a “neutral” rating on shares of Macy’s in a report on Friday, September 11th. Wall Street Zen raised shares of Macy’s from a “hold” rating to a “buy” rating in a report on Sunday, September 20th. Finally, Citigroup upped their target price on shares of Macy’s from $22.00 to $24.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 25th.
View Our Latest Stock Report on M
Macy’s Stock Performance Macy’s stock opened at $22.71 on Thursday. The stock’s 50 day simple moving average is $22.79 and its two-hundred day simple moving average is $22.10. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.48 and a current ratio of 1.59. The stock has a market cap of $5.93 billion, a price-to-earnings ratio of 8.32 and a beta of 1.44. Macy’s has a fifty-two week low of $16.69 and a fifty-two week high of $26.58. Macy’s (NYSE:M – Get Free Report) last posted its earnings results on Thursday, September 10th. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.26. Macy’s had a return on equity of 13.21% and a net margin of 3.29%. The firm had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $4.81 billion. During the same quarter in the prior year, the business earned $0.41 EPS. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. Macy’s has set its Q3 2026 guidance at -0.230–0.190 EPS and its FY 2026 guidance at 2.150-2.350 EPS. As a group, analysts expect that Macy’s will post 2.34 earnings per share for the current fiscal year.
Macy’s Dividend Announcement The company also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Tuesday, September 15th were given a dividend of $0.1915 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $0.77 annualized dividend and a dividend yield of 3.4%. Macy’s’s dividend payout ratio (DPR) is 28.21%.
Hedge Funds Weigh In On Macy’s A number of hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE grew its position in Macy’s by 23.4% in the 1st quarter. Bank of America Corp DE now owns 978,206 shares of the company’s stock worth $17,696,000 after purchasing an additional 185,678 shares during the period. Royal Bank of Canada raised its stake in Macy’s by 149.3% during the 1st quarter. Royal Bank of Canada now owns 175,506 shares of the company’s stock valued at $3,175,000 after buying an additional 105,117 shares during the last quarter. Monument Capital Management bought a new position in shares of Macy’s during the 3rd quarter valued at $2,434,000. Amundi lifted its holdings in shares of Macy’s by 375.7% during the 1st quarter. Amundi now owns 230,041 shares of the company’s stock valued at $4,161,000 after buying an additional 181,684 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Macy’s by 81.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,763,721 shares of the company’s stock valued at $104,266,000 after buying an additional 2,594,549 shares during the period. 87.36% of the stock is currently owned by hedge funds and other institutional investors.
About Macy’s (Get Free Report)
Macy’s, Inc (NYSE:M) is an American omnichannel retailer that sells apparel, accessories, beauty products, home furnishings, jewelry, and other consumer merchandise through department stores, specialty stores, and digital platforms. Its principal brands include Macy’s, Bloomingdale’s, and Bluemercury, a beauty retailer offering cosmetics, skincare, fragrance, and related services.
The company serves customers primarily in the United States through its stores and e-commerce operations. Macy’s offers a mix of national and private-brand merchandise, while Bloomingdale’s focuses on premium and luxury products and Bluemercury operates beauty stores and in-store beauty shops.
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Společnost VeriSign má 22. října po uzavření trhu zveřejnit hospodářské výsledky za 3. čtvrtletí 2026; analytici očekávají zisk na akcii (EPS) ve výši 2,46 USD a tržby 440,59 milionu USD.
VeriSign (NASDAQ:VRSN – Get Free Report) is anticipated to announce its Q3 2026 results after the market closes on Thursday, October 22nd. Analysts expect the company to announce earnings of $2.46 per share and revenue of $440.59 million for the quarter. Interested persons may visit the company’s upcoming Q3 2026 earnings summary page for the latest details on the call scheduled for Thursday, October 22, 2026 at 4:30 PM ET.
VeriSign (NASDAQ:VRSN – Get Free Report) last issued its earnings results on Thursday, July 23rd. The information services provider reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.02. The business had revenue of $434.60 million for the quarter, compared to analyst estimates of $433.19 million. VeriSign had a negative return on equity of 39.20% and a net margin of 49.76%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the company earned $2.21 EPS. On average, analysts expect VeriSign to post $9.59 EPS for the current fiscal year and $10.84 EPS for the next fiscal year.
VeriSign Stock Down 0.1% VRSN stock opened at $301.41 on Thursday. The business has a 50 day moving average price of $290.97 and a 200 day moving average price of $281.24. The stock has a market cap of $27.22 billion, a price-to-earnings ratio of 32.69 and a beta of 0.69. VeriSign has a fifty-two week low of $208.86 and a fifty-two week high of $312.48.
VeriSign Announces Dividend The business also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Wednesday, August 19th were paid a $0.81 dividend. This represents a $3.24 annualized dividend and a yield of 1.1%. The ex-dividend date was Wednesday, August 19th. VeriSign’s dividend payout ratio is currently 35.14%. Analysts Set New Price Targets Several equities analysts have commented on VRSN shares. Weiss Ratings upgraded shares of VeriSign from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday. Zacks Research downgraded shares of VeriSign from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 23rd. Wedbush boosted their price objective on shares of VeriSign from $324.00 to $341.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 1st. Finally, JPMorgan Chase & Co. upped their target price on shares of VeriSign from $308.00 to $316.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $333.00.
Check Out Our Latest Analysis on VeriSign
Insider Transactions at VeriSign In other news, CEO D. Bidzos sold 3,300 shares of VeriSign stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $281.20, for a total transaction of $927,960.00. Following the sale, the chief executive officer owned 412,939 shares in the company, valued at approximately $116,118,446.80. The trade was a 0.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 43,600 shares of company stock valued at $12,596,053 in the last three months. Corporate insiders own 0.56% of the company’s stock.
About VeriSign (Get Free Report)
VeriSign, Inc (NASDAQ:VRSN) provides critical internet infrastructure and domain name registry services. The company operates the authoritative registries for the .com and .net top-level domains and supports the security, stability and availability of these domains worldwide. VeriSign also operates the .name and .cc registries and provides backend registry services for additional top-level domains.
In addition to registry operations, VeriSign offers domain name system (DNS) services designed to help organizations maintain reliable online access.
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