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A month has gone by since the last earnings report for The PNC Financial Services Group, Inc (PNC - Free Report) . Shares have lost about 3% in that time frame, underperforming the S&P 500.

But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is The PNC Financial Services Group due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the latest earnings report in order to get a better handle on the important drivers.

PNC Financial Beats Q1 Earnings on Higher NII After FirstBank DealPNC Financial has delivered adjusted earnings per share of $4.32 in the first quarter of 2026,  beating the Zacks Consensus Estimate of $4.12 and up from $3.51 a year ago.

Results reflected higher net interest income, a rise in the net interest margin (NIM), and strong loan and deposit growth, aided by the FirstBank acquisition (completed in January 2026). However, higher expenses were headwinds.

Results excluded certain non-recurring charges. After considering those, net income (GAAP basis) was $1.77 billion, which rose 18.2% from the year-ago quarter.

Revenues & Expenses Rise 

Quarterly revenue came in at $6.2 billion, up 13% year over year while missing the consensus mark by 0.5%.

NII rose to $4 billion in the quarter, increasing nearly 14% from the year-ago period. PNC’s NIM improved to 2.95%, expanding 17 basis points year over year, as the bank benefited from lower funding costs and loan growth.

Non-interest income totaled $2.2 billion, up 11.5% from the first quarter of 2025, reflecting broader improvement across several fee categories. Within fee income lines, capital markets and advisory revenues rose sharply from last year, while residential and commercial mortgage revenues declined year over year.

Non-interest expenses increased to $3.8 billion, up 11.2% year over year. The rise largely reflected FirstBank’s operating and integration expenses, increased business activity, and continued investments to support growth. PNC incurred $98 million of integration costs (pre-tax) in the quarter related to the FirstBank acquisition, and management noted that expense growth was notably more modest, excluding integration expenses.

The efficiency ratio was 61% compared with 62% in the prior-year quarter.

Loan and Deposit Balance Rises

The balance sheet expansion was notable following the closure of the FirstBank deal. Total loans increased 8.9% sequentially to $360.9 billion, while total deposits climbed 3.8% sequentially to $457.6 billion, aided by acquired balances.

Credit Quality Remained Solid

Total non-performing loans were $2.24 billion, down 2.1% from the year-ago quarter. 

Net loan charge-offs were $253 million, up 23.4% from the year-ago quarter. These included $45 million in acquired net loan charge-offs related to certain FirstBank loans. Excluding acquired net loan charge-offs, net charge-offs were $208 million.

The company reported a provision for credit losses of $210 million in the first quarter, down 4.1% from the year-ago quarter. The allowance for credit losses increased to $5.5 billion from $5.22 billion as of March 31, 2025. The allowance for credit losses to total loans ratio was 1.52% compared with 1.64% in the year-ago quarter.

Capital Position & Profitability Ratios

As of March 31, 2026, the Basel III common equity tier 1 capital ratio was 10.1% compared with 10.6% as of March 31, 2025.

Return on average assets and average common shareholders’ equity were 1.19% and 11.92%, respectively, compared with 1.09% and 11.60% in the year-ago quarter.

Capital Return Stayed Robust

In the first quarter of 2026, PNC returned $1.4 billion of capital to shareholders. This included $0.7 billion in common stock dividends and $0.7 billion in common share repurchases. Share repurchase activity in the second quarter of 2026 is expected to be $600-$700 million.

OutlookQ2 2026

The company expects average loans to increase 2%–3% from the first-quarter 2026 reported figure of $350.9 billion.

Management anticipates net interest income to rise around 3% from the $3.9 billion reported in the first quarter of 2026.

Fee income (non-GAAP) is expected to increase nearly 2.5% from the first-quarter 2026 reported figure of $2.1 billion.

Other non-interest income is projected to be in the range of $150 million to $200 million, compared with $125 million reported in the first quarter of 2026.

Total revenues are expected to rise approximately 3.5% from the $6.2 billion reported in the first quarter of 2026.

Non-interest expenses (excluding one-time integration costs, non-GAAP) are anticipated to increase around 2% from the $3.8 billion reported in the first quarter of 2026.

Net charge-offs are estimated to be around $225 million, compared with $253 million reported in the first quarter of 2026.

2026

Average loans are expected to grow around 11% from the 2025 baseline of $323.4 billion, up from the prior expectation of nearly 8% growth.

NII is projected to increase approximately 14.5% from the 2025 baseline of $14.4 billion, revised upward from the earlier guidance of around 14% growth.

Non-interest income is expected to rise nearly 6% from the 2025 baseline of $8.7 billion.

Total revenues are anticipated to increase about 11% from the 2025 baseline of $23.1 billion.

Adjusted non-interest expenses (excluding one-time integration costs, non-GAAP) are expected to rise nearly 7% from the 2025 baseline of $13.8 billion.

The effective tax rate is estimated to be approximately 19.5%.

Management expects to generate nearly 400 basis points of positive operating leverage in 2026.

How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a upward trend in estimates review.

VGM ScoresCurrently, The PNC Financial Services Group has a subpar Growth Score of D, however its Momentum Score is doing a lot better with a B. Following the exact same course, the stock has a grade of B on the value side, putting it in the top 40% for this investment strategy.

Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.

OutlookEstimates have been broadly trending upward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, The PNC Financial Services Group has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

Performance of an Industry PlayerThe PNC Financial Services Group is part of the Zacks Financial - Investment Bank industry. Over the past month, Goldman Sachs (GS - Free Report) , a stock from the same industry, has gained 7.7%. The company reported its results for the quarter ended March 2026 more than a month ago.

Goldman reported revenues of $17.23 billion in the last reported quarter, representing a year-over-year change of +14.4%. EPS of $17.55 for the same period compares with $14.12 a year ago.

Goldman is expected to post earnings of $13.71 per share for the current quarter, representing a year-over-year change of +25.7%. Over the last 30 days, the Zacks Consensus Estimate has changed -0.2%.

The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Goldman. Also, the stock has a VGM Score of D.

On May 19, 2026, we present a discounted cash flow (DCF) analysis for PNC Financial Services Group Inc PNC . The company has shown a price performance of -0.4% over the past week, -4.9% over the past month, +4.0% year-to-date, and +23.1% over the past year. Below are key highlights from our analysis:

DCF Earnings-based intrinsic value of $247.27 compared to current price of $213.72, indicating a margin of safety of 13.6%. DCF Free Cash Flow (FCF)-based intrinsic value of $223.58, suggesting a fair valuation. GF Score™ of 80/100, indicating a high reliability of the DCF inputs. What Is PNC Worth? DCF Earnings-Based Model In our DCF analysis, we utilize a two-stage model to estimate PNC's intrinsic value. The first stage considers a growth phase lasting 10 years, where we project earnings per share (EPS) growth at an annual rate of 8.4%. The second stage accounts for a terminal growth rate of 4% over the subsequent 10 years. The discount rate applied in our calculations is 11%, derived from the risk-free rate and equity risk premium.

Parameter Value Current EPS (TTM, excl. non-recurring) $17.16 10-Year Growth Rate 8.4% 10-Year Treasury Rate 4.33% Discount Rate (ceil(Treasury) + 6%) 11% Terminal Growth Rate 4% The calculation summary for the two-stage model is as follows:

Stage Description Value Growth Stage (Years 1-10) EPS growing at 8.4%, discounted at 11% $150.98 Terminal Stage (Years 11-20) 4% terminal growth, discounted at 11% $96.29 Intrinsic Value Growth + Terminal $247.27 With the current price at $213.72 and the intrinsic value calculated at $247.27, PNC appears to be modestly undervalued, with a margin of safety of 13.6%. It is important to note that GuruFocus uses EPS without non-recurring items, as research indicates that stock prices correlate more closely with earnings than with free cash flow. For further calculations, visit the PNC DCF Calculator.

What Does the Free Cash Flow DCF Say? In addition to the earnings-based model, we also assessed PNC using a Free Cash Flow (FCF) DCF model. The FCF-based intrinsic value is calculated at $223.58. When comparing this with the earnings-based intrinsic value of $247.27, the two models provide a slightly different perspective on valuation. The FCF model suggests that PNC is fair valued, with a margin of safety of 4.4%.

How Does GF Value™ Compare to the DCF Models? According to GuruFocus, the GF Value™ for PNC is $201.02, indicating that the stock is currently overvalued by 6.3%. GF Value™ is a proprietary measure calculated from historical trading multiples, past business growth, and future performance estimates. While the DCF earnings model suggests modest undervaluation, the FCF model indicates fair valuation, and GF Value™ presents a perspective of overvaluation. This divergence highlights the importance of considering multiple valuation methods. For more details, visit the GF Value™ page.

What Does PNC's GF Score™ Tell Us? The GF Score™ ranks stocks from 0 to 100 based on five key aspects: Financial Strength, Profitability, Growth, Valuation, and Momentum. Stocks with higher GF Score™ values have been found to generate higher long-term returns based on backtested data from 2006-2021. Below is a summary of PNC's GF Score™ metrics:

Metric Rating GF Score™ 80/100 Financial Strength 3/10 Profitability 6/10 Growth 8/10 Valuation 7/10 Momentum 10/10 PNC has a predictability rank of 2/5 stars, indicating that the DCF model may be less reliable for this stock. For more information, visit the PNC stock page.

Key Assumptions and Limitations It is important to recognize that DCF models are highly sensitive to the assumptions made regarding growth rates and discount rates. Stocks with low predictability ratings, such as PNC, tend to produce less reliable DCF estimates. Additionally, the terminal growth rate of 4% is a simplifying assumption that may not reflect future economic conditions accurately.

What This Means for Investors In synthesizing the three valuation models—DCF earnings, DCF FCF, and GF Value™—we find that PNC presents a mixed valuation picture. While the DCF earnings model indicates modest undervaluation, the FCF model suggests fair valuation, and GF Value™ indicates overvaluation. Overall, PNC can be considered fairly valued based on the consensus of these models. For the full DCF analysis, visit the PNC DCF Calculator. You can also explore the GF Value™ page, or use the GuruFocus Stock Screener to find undervalued predictable companies.

Frequently Asked Questions What is PNC's intrinsic value based on DCF?

[Answer: earnings-based $247.26, FCF-based $223.58]

Is PNC overvalued or undervalued?

[Answer using DCF + GF Value™ consensus]

How reliable is the DCF model for PNC?

[Answer using predictability rank 2/5]

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].

All investors love getting big returns from their portfolio, whether it's through stocks, bonds, ETFs, or other types of securities. But for income investors, generating consistent cash flow from each of your liquid investments is your primary focus.

While cash flow can come from bond interest or interest from other types of investments, income investors hone in on dividends. A dividend is the distribution of a company's earnings paid out to shareholders; it's often viewed by its dividend yield, a metric that measures a dividend as a percent of the current stock price. Many academic studies show that dividends account for significant portions of long-term returns, with dividend contributions exceeding one-third of total returns in many cases.

Headquartered in Pittsburgh, The PNC Financial Services Group, Inc (PNC - Free Report) is a Finance stock that has seen a price change of 4.62% so far this year. The company is paying out a dividend of $1.70 per share at the moment, with a dividend yield of 3.11% compared to the Financial - Investment Bank industry's yield of 0.85% and the S&P 500's yield of 1.42%.

Looking at dividend growth, the company's current annualized dividend of $6.80 is up 3% from last year. Over the last 5 years, The PNC Financial Services Group, Inc has increased its dividend 3 times on a year-over-year basis for an average annual increase of 8.49%. Looking ahead, future dividend growth will be dependent on earnings growth and payout ratio, which is the proportion of a company's annual earnings per share that it pays out as a dividend. The PNC Financial Services Group's current payout ratio is 39%, meaning it paid out 39% of its trailing 12-month EPS as dividend.

PNC is expecting earnings to expand this fiscal year as well. The Zacks Consensus Estimate for 2026 is $18.93 per share, with earnings expected to increase 14.10% from the year ago period.

Investors like dividends for many reasons; they greatly improve stock investing profits, decrease overall portfolio risk, and carry tax advantages, among others. However, not all companies offer a quarterly payout.

Big, established firms that have more secure profits are often seen as the best dividend options, but it's fairly uncommon to see high-growth businesses or tech start-ups offer their stockholders a dividend. Income investors have to be mindful of the fact that high-yielding stocks tend to struggle during periods of rising interest rates. With that in mind, PNC is a compelling investment opportunity. Not only is it a strong dividend play, but the stock currently sits at a Zacks Rank of #3 (Hold).

On May 27, 2026, we conducted a DCF analysis for PNC Financial Services Group Inc PNC to evaluate its intrinsic value. The stock has shown a solid price performance with a year-to-date increase of 7.4% and a remarkable 32.8% rise over the past year.

DCF Earnings-based intrinsic value of $247.27 vs current price of $220.81 (margin of safety: 10.7%) DCF FCF-based intrinsic value of $223.58 vs current price (second opinion: fair valued with 1.2% margin of safety) GF Score™ of 80/100, indicating a reliable assessment of the DCF inputs What Is PNC Worth? DCF Earnings-Based Model The DCF earnings-based model for PNC uses a two-stage approach. In the first stage, we assume a growth rate of 8.4% for the next 10 years, followed by a terminal growth rate of 4% for the subsequent 10 years. The discount rate used for both stages is 11%, which is derived from the risk-free rate and equity risk premium.

Parameter Value Current EPS (TTM, excl. non-recurring) $17.16 10-Year Growth Rate 8.4% 10-Year Treasury Rate 4.47% Discount Rate (ceil(Treasury) + 6%) 11% Terminal Growth Rate 4% In the growth phase, the EPS is expected to grow at 8.4% per year for 10 years, resulting in a value of $150.98 per share. In the terminal phase, the growth slows to 4% for the next 10 years, yielding a terminal stage value of $96.29 per share. The total intrinsic value calculated from both stages is:

Stage Description Value Growth Stage (Years 1-10) EPS growing at 8.4%, discounted at 11% $150.98 Terminal Stage (Years 11-20) 4% terminal growth, discounted at 11% $96.29 Intrinsic Value Growth + Terminal $247.27 With the current price at $220.81, the intrinsic value of $247.27 indicates that PNC is modestly undervalued, with a margin of safety of 10.7%. It’s important to note that GuruFocus uses EPS excluding non-recurring items in its calculations, as research shows that stock prices correlate more closely with earnings than with free cash flow. For further details, you can visit the PNC DCF Calculator.

What Does the Free Cash Flow DCF Say? The free cash flow (FCF)-based intrinsic value for PNC is calculated at $223.58. When we compare this with the earnings-based intrinsic value of $247.27, we find that the two models provide somewhat different perspectives. The FCF-based model suggests that PNC is fairly valued, with a margin of safety of just 1.2%.

How Does GF Value™ Compare to the DCF Models? The GF Value™ for PNC stands at $201.35, indicating that the stock is overvalued from this perspective. GF Value™ is GuruFocus' proprietary measure, calculated based on historical trading multiples, past business growth, and future performance estimates. When we consider all three valuation models, we see a divergence: the DCF earnings model suggests modest undervaluation, the FCF model indicates fair valuation, and GF Value™ suggests overvaluation. For more insights, visit the GF Value™ page.

What Does PNC's GF Score™ Tell Us? The GF Score™ ranks stocks from 0 to 100 based on five key aspects: Financial Strength, Profitability, Growth, Valuation, and Momentum. Stocks with higher GF Score™ values have been found to generate higher long-term returns (backtested 2006-2021).

Metric Rating GF Score™ 80/100 Financial Strength 3/10 Profitability 6/10 Growth 8/10 Valuation 7/10 Momentum 10/10 With a predictability rank of 2/5 stars, it suggests that the DCF model may be less reliable for this stock. For more information, visit the PNC stock page.

Key Assumptions and Limitations It is essential to recognize that DCF models are highly sensitive to the assumptions made regarding growth rates and discount rates. Stocks with low predictability ratings, such as PNC, tend to produce less reliable DCF estimates. The terminal growth rate of 4% is a simplifying assumption that may not reflect actual future growth.

What This Means for Investors In synthesizing the three valuation models—DCF earnings, DCF FCF, and GF Value™—we find a mixed consensus. The DCF earnings model indicates that PNC is modestly undervalued, while the FCF model suggests it is fairly valued, and the GF Value™ indicates overvaluation. Overall, this presents a complex picture for investors. For the full DCF analysis, visit the PNC DCF Calculator. You can also explore the GF Value™ page, or use the GuruFocus Stock Screener to find undervalued predictable companies.

Frequently Asked Questions What is PNC's intrinsic value based on DCF?

[Answer: earnings-based $247.26, FCF-based $223.58]

Is PNC overvalued or undervalued?

[Answer using DCF + GF Value™ consensus]

How reliable is the DCF model for PNC?

[Answer using predictability rank 2/5]

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].

All investors love getting big returns from their portfolio, whether it's through stocks, bonds, ETFs, or other types of securities. But for income investors, generating consistent cash flow from each of your liquid investments is your primary focus.

Cash flow can come from bond interest, interest from other types of investments, and, of course, dividends. A dividend is the distribution of a company's earnings paid out to shareholders; it's often viewed by its dividend yield, a metric that measures a dividend as a percent of the current stock price. Many academic studies show that dividends make up large portions of long-term returns, and in many cases, dividend contributions surpass one-third of total returns.

Headquartered in Pittsburgh, The PNC Financial Services Group, Inc (PNC - Free Report) is a Finance stock that has seen a price change of 9.41% so far this year. Currently paying a dividend of $1.70 per share, the company has a dividend yield of 2.98%. In comparison, the Financial - Investment Bank industry's yield is 0.96%, while the S&P 500's yield is 1.45%.

Looking at dividend growth, the company's current annualized dividend of $6.80 is up 3% from last year. Over the last 5 years, The PNC Financial Services Group, Inc has increased its dividend 3 times on a year-over-year basis for an average annual increase of 8.49%. Looking ahead, future dividend growth will be dependent on earnings growth and payout ratio, which is the proportion of a company's annual earnings per share that it pays out as a dividend. The PNC Financial Services Group's current payout ratio is 39%, meaning it paid out 39% of its trailing 12-month EPS as dividend.

Looking at this fiscal year, PNC expects solid earnings growth. The Zacks Consensus Estimate for 2026 is $18.93 per share, which represents a year-over-year growth rate of 14.10%.

From greatly improving stock investing profits and reducing overall portfolio risk to providing tax advantages, investors like dividends for a variety of different reasons. But, not every company offers a quarterly payout.

High-growth firms or tech start-ups, for example, rarely provide their shareholders a dividend, while larger, more established companies that have more secure profits are often seen as the best dividend options. Income investors must be conscious of the fact that high-yielding stocks tend to struggle during periods of rising interest rates. With that in mind, PNC is a compelling investment opportunity. Not only is it a strong dividend play, but the stock currently sits at a Zacks Rank of #3 (Hold).

Investors interested in stocks from the Medical - Biomedical and Genetics sector have probably already heard of Biogen Inc. (BIIB) and Techne (TECH). But which of these two stocks is more attractive to value investors?

Posted by Defense World Staff on Apr 17th, 2026

Shares of Bio-Techne Corp (NASDAQ:TECH – Get Free Report) have been assigned an average rating of “Moderate Buy” from the fourteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, nine have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $72.7692.

Several research firms have issued reports on TECH. Wells Fargo & Company boosted their price objective on Bio-Techne from $70.00 to $76.00 and gave the stock an “overweight” rating in a report on Friday, February 6th. Zacks Research upgraded Bio-Techne from a “strong sell” rating to a “hold” rating in a report on Monday, February 9th. Citigroup restated a “buy” rating and set a $80.00 price objective (up from $70.00) on shares of Bio-Techne in a report on Wednesday, February 4th. Weiss Ratings downgraded Bio-Techne from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, March 27th. Finally, TD Cowen restated a “buy” rating on shares of Bio-Techne in a report on Tuesday, March 17th.

Read Our Latest Report on Bio-Techne

Bio-Techne Price Performance Shares of NASDAQ TECH opened at $57.36 on Tuesday. Bio-Techne has a twelve month low of $46.01 and a twelve month high of $72.16. The company has a current ratio of 4.54, a quick ratio of 3.08 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $8.97 billion, a price-to-earnings ratio of 112.47, a PEG ratio of 3.84 and a beta of 1.49. The firm has a 50-day moving average of $55.83 and a two-hundred day moving average of $59.96.

Bio-Techne (NASDAQ:TECH – Get Free Report) last issued its quarterly earnings results on Wednesday, February 4th. The biotechnology company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The company had revenue of $295.88 million during the quarter, compared to the consensus estimate of $290.20 million. Bio-Techne had a net margin of 6.67% and a return on equity of 13.94%. Bio-Techne’s revenue was down .4% on a year-over-year basis. During the same period in the prior year, the company earned $0.42 EPS. As a group, analysts expect that Bio-Techne will post 1.67 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Monday, February 16th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.6%. The ex-dividend date was Friday, February 13th. Bio-Techne’s payout ratio is presently 62.75%.

Institutional Trading of Bio-Techne Institutional investors and hedge funds have recently bought and sold shares of the stock. Diversified Trust Co increased its holdings in shares of Bio-Techne by 25.2% in the 1st quarter. Diversified Trust Co now owns 15,916 shares of the biotechnology company’s stock valued at $832,000 after purchasing an additional 3,206 shares during the period. MidFirst Bank acquired a new position in shares of Bio-Techne in the 4th quarter valued at about $223,000. Alberta Investment Management Corp acquired a new position in shares of Bio-Techne in the 4th quarter valued at about $1,300,000. Wellington Management Group LLP increased its holdings in shares of Bio-Techne by 12.1% in the 4th quarter. Wellington Management Group LLP now owns 5,734,049 shares of the biotechnology company’s stock valued at $337,219,000 after purchasing an additional 618,916 shares during the period. Finally, Alpine Peaks Capital LP increased its holdings in shares of Bio-Techne by 43.1% in the 4th quarter. Alpine Peaks Capital LP now owns 51,500 shares of the biotechnology company’s stock valued at $3,029,000 after purchasing an additional 15,500 shares during the period. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Company Profile (Get Free Report)

Bio-Techne Corporation (NASDAQ:TECH) is a global life sciences company that develops, manufactures and sells high-quality reagents, instruments and services for the research, diagnostic and bioprocessing markets. Its core product offerings include recombinant proteins, antibodies, immunoassays, nucleic acid probes and kits, single-cell analysis solutions and automated protein analysis systems. Flagship brands such as R&D Systems, Novus Biologicals, ProteinSimple and Advanced Cell Diagnostics provide researchers and clinicians with reliable tools for cell biology, immunology, proteomics and genomics applications.

Headquartered in Minneapolis, Minnesota, Bio-Techne serves customers across North America, Europe and the Asia-Pacific region through a combination of direct sales, distributors and strategic partnerships.

Further Reading Five stocks we like better than Bio-Techne

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Key Takeaways TECH is set to report Q3 fiscal 2026 results on May 6, with revenues seen rising 1.1% year over year. Bio-Techne's Protein Sciences may benefit from pharma strength and stabilizing biotech and academic demand. TECH's Diagnostics and Spatial Biology could see mixed trends, with growth in RNAscope and COMET bookings. Bio-Techne Corporation (TECH - Free Report) is set to release third-quarter fiscal 2026 results on May 6, before the opening bell.

The life science and diagnostic product maker posted adjusted earnings per share (EPS) of 46 cents in the last reported quarter, which beat the Zacks Consensus Estimate by 7%. The company’s earnings beat estimates in three of the trailing four quarters and matched once, the average surprise being 5.70%.

Q3 Estimates for TECHThe Zacks Consensus Estimate for revenues is pegged at $319.7 million, indicating an increase of 1.1% from the year-ago reported figure.

The consensus estimate for EPS is pinned at 55 cents, indicating a decrease of 1.8% from the year-ago reported figure.

Estimate Revision Trend Ahead of TECH’s Q3 EarningsEstimates for earnings have remained constant at 55 cents per share in the past 30 days.

Let’s briefly review the company’s performance leading up to the announcement.

TECH: Factors at Play Before Q3 ResultsDuring the previous earnings call, management noted that funding uncertainty has affected customer behavior in emerging biotech and U.S. academia end markets. However, recent strength in biotech funding activity, along with favorable U.S. fiscal 2026 appropriation bills, positions both end markets for continued stabilization and gradual improvement.

Protein Sciences 

The company’s core portfolio of research-use-only proteomic agents — featuring more than 6,000 proteins and 400,000 antibody types — might have continued to support global customers in advancing therapeutics to enable precision diagnostics. Revenues might have been positively impacted by the ongoing strength in pharmaceuticals, along with stabilization across U.S. academia and biotech end markets. Aside from the two largest cell therapy customers (who temporarily reduced purchases), GMP reagents are likely to have witnessed strong growth, underscoring the strength of its offering and improving end-market demand. 

In the fiscal third quarter, the protein analytical instrumentation business might have continued to demonstrate strong momentum. Additionally, the Wilson Wolf business is likely to have stood out as a high-growth opportunity in the to-be-reported quarter. In the previous quarter, the company’s fully automated proteomic analytical solution, ProteinSimple, achieved high single-digit growth. We expect this trend to have persisted in the to-be-reported quarter as well. 

Meanwhile, within the Simple Western portfolio, demand for the next-generation high-throughput instrument, Leo, appears to have been strong. In December, the company expanded the launch and completed its first shipments of the Leo System. We expect this development to have contributed to the quarterly performance.

Major developments within the segment include the launch of Simple Plex Ultra-Sensitive Assays on the Ella automated benchtop platform and Cultrex Synthetic Hydrogel — a fully defined synthetic extracellular matrix, to support reproducible and scalable 3D stem cell and organoid research. Additionally, the Ella benchtop immunoassay platform has received CE-IVD marking and is now available for sale in the European Union. 

In the previous quarter, Bio-Techne signed a licensing agreement with Monod Bio, which grants Bio-Techne exclusive commercial rights to a specific subset of Monod’s NovoBody Duo molecules — a new class of AI-designed bispecific binding proteins. These initiatives might have contributed to the company’s fiscal third-quarter top-line performance.

The consensus estimate for the segment’s revenues is pegged at $232.7 million, up 2.2% from the year-ago reported figure.

Bio-Techne Corp Price and EPS SurpriseDiagnostics and Spatial Biology

In the fiscal third quarter, the RNAscope product suite, which is used to detect and visualize RNA and short microRNA sequences at the single-cell level within intact tissue samples, might have experienced growth similar to that in the previous quarter.

The COMET instrument might have recorded year-over-year growth in bookings. The company might have also continued to see momentum for the ESR1 test, which monitors resistance to standard therapies in breast cancer patients. In the previous quarter, the Diagnostics business delivered high single-digit growth, supported by balanced performance across both clinical controls and molecular diagnostic kits. We expect this trend to have persisted in the to-be-reported quarter as well. 

Major developments within the segment include the expansion of its COMET solution portfolio with the addition of the new SPYRE Focus Panels and SPYRE Amplification Kits. In the previous quarter, Bio-Techne also signed an agreement between one of its spatial biology brands, Lunaphore, and the Wyss Center for Bio and Neuroengineering to develop an automated workflow for simultaneous RNA and protein detection in 3D specimens. The company also launched the ProximityScope assay, a novel spatial solution designed for seamless integration with the BOND RX staining platform from Leica Biosystems. These initiatives might have contributed to the company’s fiscal third-quarter top-line performance.

The consensus estimate for Spatial Biology revenues is pegged at $86.9 million, down 2.6% from the year-ago reported figure.

What Our Model Unveils for TECHPer our proven model, a stock with a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold), along with a positive Earnings ESP, has a higher chance of beating estimates, which is not the case here, as you can see.

Earnings ESP: Bio-Techne has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: The company currently carries a Zacks Rank #3 (Hold). 

Top MedTech PicksHere are some medical stocks worth considering, as these have the right combination of elements to post an earnings beat this time:

Agenus (AGEN - Free Report) has an Earnings ESP of +7.69% and a Zacks Rank #1. The company is expected to release first-quarter 2026 results soon. You can see the complete list of today’s Zacks #1 Rank stocks here.

In the trailing four quarters, AGEN delivered an average surprise of 31.42%. The Zacks Consensus Estimate for the company’s first-quarter EPS is expected to increase 289.3% from the year-ago quarter’s figure.

Encompass Health (EHC - Free Report) has an Earnings ESP of +0.17% and a Zacks Rank #2. The company is slated to release first-quarter 2026 results on April 30.   

EHC’s earnings beat estimates in each of the trailing four quarters, the average surprise being 12.09%. The Zacks Consensus Estimate for EHC’s first-quarter EPS is anticipated to rise 10.2% from the year-ago reported figure.

The Ensign Group (ENSG - Free Report) has an Earnings ESP of +1.12% and a Zacks Rank #2. The company is expected to release first-quarter 2026 results soon.

ENSG’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 2.93%. The Zacks Consensus Estimate for the company’s first-quarter EPS calls for an increase of 17.8% from the year-ago quarter’s figure.

, /PRNewswire/ -- Bio-Techne Corporation (NASDAQ: TECH) announced that its Board of Directors has decided to pay a dividend of $0.08 per share for the quarter ended March 31, 2026. The quarterly dividend will be payable May 29, 2026, to all common shareholders of record on May 18, 2026. Future cash dividends will be considered by the Board of Directors on a quarterly basis.

Bio–Techne Corporation (NASDAQ: TECH) is a global life sciences company headquartered in Minnesota, celebrating 50 years of empowering scientific and diagnostic communities to reach better answers. The company provides high–quality reagents, analytical instruments, and precision diagnostics. Its portfolio is organized into three customer–focused brands: R&D Systems™, Bio–Techne Spatial™, and Bio–Techne Diagnostics™, reflecting the scientific journey from discovery to translational research to clinical decision–making. Bio–Techne operates in 34 locations worldwide and employs approximately 3,100 people. In fiscal year 2025, the company generated over $1.2 billion in net sales. Its more than 500,000 products are used globally by academic researchers, biopharmaceutical and biotechnology companies, and clinical diagnostic laboratories. For more information on Bio-Techne and its brands, please visit www.bio-techne.com or follow the company on social media at LinkedIn, X, or YouTube. 

Forward Looking Statements:
Our press releases may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act. Such statements involve risks and uncertainties that may affect the actual results of operations. Forward looking statements in this press release include statements regarding potential future repurchase of Bio-Techne common stock. The following important factors, among others, have affected and, in the future, could affect the Company's actual results and future share price: the effect of new branding and marketing initiatives, the integration of new businesses and leadership, the introduction and acceptance of new products, the funding and focus of the types of research by the Company's customers, the impact of the growing number of producers of biotechnology research products and related price competition, general economic conditions, customer site closures or supply chain issues, the impact of currency exchange rate fluctuations, and the costs and results of research and product development efforts of the Company and of companies in which the Company has invested or with which it has formed strategic relationships.

For additional information concerning such factors, see the section titled "Risk Factors" in the Company's annual report on Form 10-K and quarterly reports on Form 10-Q as filed with the Securities and Exchange Commission. We undertake no obligation to update or revise any forward-looking statements we make in our press releases due to new information or future events. Investors are cautioned not to place undue emphasis on these statements.

Contact: 

David Clair, Vice President, Investor Relations

[email protected]

612-656-4416

SOURCE Bio-Techne Corporation

CompaniesMay 6 (Reuters) - Biotech firm Bio-Techne (TECH.O), opens new tab on Wednesday missed Wall Street estimates for third-quarter revenue, as cuts to U.S. ​academic funding weighed on demand for its drug-development ‌products.

Here are some details:

Keep up with the latest medical breakthroughs and healthcare trends with the Reuters Health Rounds newsletter. Sign up here.

The Minneapolis, Minnesota-based company, develops products used in medical research, drug development and diagnostics.

Bio-Techne's quarterly sales ​came in at $311.4 million, below analysts' expectations ​of $317.1 million, according to data compiled by LSEG.

Uncertainty ⁠due to cuts to U.S. academic funding ​as well as concerns related to President Donald Trump's ​tariffs have been weighing on the company's clients.

CEO Kim Kelderman said demand has yet to recover broadly, adding that while ​biotech funding remains healthy, it "has not yet ​translated into broad-based demand across our portfolio."

But early indicators point to a ‌more ⁠constructive outlook as funding activity and customer purchasing begin to realign, Kelderman added.

U.S. academic markets stabilized with low-single-digit growth in the quarter, the company ​said.

Sales at the ​company's largest ⁠protein sciences unit, which develops and makes biological compounds for research and diagnostics, fell ​1% to $226.2 million, below analysts' estimates of $230.63 ​million.

Revenue ⁠from its diagnostics and genomics unit, which makes tools and compounds for therapeutics and vaccines, dropped 4% to $85.6 million, missing expectations of $86.58 ⁠million.

The ​company earned adjusted profit per ​share of 53 cents for the quarter, missing estimates of 54 cents.

Reporting ​by Siddhi Mahatole in Bengaluru; Editing by Leroy Leo

Our Standards: The Thomson Reuters Trust Principles., opens new tab

Key Takeaways Bio-Techne reported Q3 EPS of 53 cents, missing estimates and falling 5.4% year over year. TECH posted $311.4M in sales, down 1.5%, though still beating consensus estimates. Bio-Techne's operating margin rose 1200 bps to 24.2%, driven by lower expenses. Bio-Techne Corporation (TECH - Free Report) reported third-quarter fiscal 2026 adjusted earnings per share (EPS) of 53 cents, which missed the Zacks Consensus Estimate by 2.8%. The bottom line was down 5.4% on a year-over-year basis. 

The quarter's adjustments eliminated the impact of certain one-time items, including amortization of Wilson Wolf intangible assets, and restructuring and restructuring-related costs, among others.

GAAP EPS was 32 cents compared with 14 cents in the prior-year quarter.

TECH's Revenues in DetailBio-Techne registered net sales of $311.4 million, reflecting a decline of 1.5% year over year on a reported basis. The figure was down 2% on an organic basis. The top line missed the Zacks Consensus Estimate by 2.4%.

Following the announcement, shares of Bio-Techne declined 1.2% in pre-market trading yesterday, reflecting investor reaction to the company’s quarterly sales and earnings decline. 

Segmental Analysis of TECH’s Q3 RevenuesThe company reports under two business segments — Protein Sciences, and Diagnostics and Spatial Biology (formerly Diagnostics and Genomics).

Within Protein Sciences, Bio-Techne recorded revenues of $226.2 million, down 1% year over year (down 4% organically). In fiscal 2024, a business within this segment met the criteria as held-for-sale, excluded from its operating results.

Within Diagnostics and Spatial Biology, sales decreased 4% year over year to $85.6 million (up 3% organically) in the fiscal third quarter. Within this, the Exosome Diagnostics business met the held-for-sale criteria, excluded from its operating results.

TECH’s Q3 MarginsBio-Techne’s gross profit fell 2.9% to $208.3 million. The gross margin contracted 97 basis points (bps) to 66.9% on a 1.5% rise in the cost of sales.

Selling, general and administrative expenses declined 27.7% to $109.3 million. Research and development expenses totaled $23.4 million, down 4.6% year over year. 

The company generated an operating profit of $75.5 million in the fiscal third quarter compared with the year-ago quarter’s figure of $38.7 million. The operating margin expanded 1200 bps to 24.2% during the quarter. 

Bio-Techne Corp Price, Consensus and EPS SurpriseBio-Techne’s Capital StructureBio-Techne exited the fiscal third quarter of 2026 with cash and equivalents of $209.8 million compared with $172.9 million at the end of the fiscal second quarter. Long-term debt obligations totaled $200 million compared with $260 million in the previous quarter. 

Cumulative net cash provided by operating activities was $196.7 million compared with $189.3 million a year ago.

Our Take on Bio-Techne’s ResultsBio-Techne ended the reported quarter with lower-than-expected results, wherein both earnings and revenues missed estimates. Also, quarterly revenue decline and gross margin contraction look discouraging. 

Large pharma delivered the sixth consecutive quarter of double-digit growth, which was offset by a continued lag in spending by emerging biotech. U.S. academic markets stabilized with low-single digit growth. Growth vectors performed well, with mid-single digit growth in Proteomic Analysis instruments, mid-teens growth in Spatial Biology, and nearly 50% growth in GMP proteins excluding fast track customers. 

The expansion of operating margin bodes well. 

TECH's Zacks Rank and Key PicksBio-Techne currently has a Zacks Rank #3 (Hold).

Some better-ranked stocks from the broader medical space are Globus Medical (GMED - Free Report) , Intuitive Surgical (ISRG - Free Report) and Phibro Animal Health (PAHC - Free Report) .

Globus Medical, currently sporting a Zacks Rank #1 (Strong Buy), reported a fourth-quarter 2025 adjusted EPS of $1.28, which surpassed the Zacks Consensus Estimate by 20.8%. Revenues of $826.4 million beat the Zacks Consensus Estimate by 4.9%. You can see the complete list of today’s Zacks #1 Rank stocks here.

GMED has an earnings yield of 4.7% compared to the industry’s negative yield of 1.4%. The company’s earnings beat estimates in three of the trailing four quarters and missed on one occasion, the average surprise being 18.79%.

Intuitive Surgical, carrying a Zacks Rank #2 (Buy) at present, posted a first-quarter 2026 adjusted EPS of $2.50, which exceeded the Zacks Consensus Estimate by 20.2%. Revenues of $2.77 billion topped the Zacks Consensus Estimate by 6.2%.

ISRG has an earnings yield of 2.1% in contrast to the industry’s negative yield of 0.9%. The company’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 16.82%.

Phibro Animal Health, carrying a Zacks Rank #2 at present, posted a second-quarter fiscal 2026 adjusted EPS of 87 cents, which outpaced the Zacks Consensus Estimate by 27.01%. Revenues of $373.9 million outperformed the Zacks Consensus Estimate by 4.72%.

PAHC has an estimated long-term earnings growth rate of 21.5% compared with the industry’s 12.1% growth. The company’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 20.15%.

ANTWERP, Belgium, 7 May 2026 – CMB.TECH NV (NYSE: CMBT, Euronext Brussels: CMBT and Euronext Oslo Børs: CMBTO) (“CMBT”, “CMB.TECH” or “the Company”) will release its first quarter 2026 earnings prior to market opening on Tuesday 19 May 2026 and will host a conference call at 8 a.m. EST / 2 p.m. CET to discuss the results for the quarter.

The call will be a webcast with an accompanying slideshow. You can find the details of this conference call below and on the “Investor Relations” page of the website. The presentation, recording & transcript will also be available on this page.

Webcast Information Event Type: Video conference call with slide presentationEvent Date:19 May 2026Event Time:8 a.m. EST / 2 p.m. CETEvent Title: “Q1 2026 Earnings Conference Call”Event Site/URL:  https://events.teams.microsoft.com/event/9600de65-6747-468b-bb10-eb435b6a1780@d0b2b045-83aa-4027-8cf2-ea360b91d5e4 To attend this conference call, please register via the following link.

Telephone participants who are unable to pre-register may dial in to the respective number of their location (to be found here). The Phone conference ID is the following: 266 848 625#

Announcement Q1 2026 results – 19 May 2026

About CMB.TECH

CMB.TECH (all capitals) is one of the largest listed, diversified and future-proof maritime groups in the world with a combined fleet of about 250 vessels: dry bulk vessels, crude oil tankers, chemical tankers, container vessels and offshore energy vessels. CMB.TECH also offers hydrogen and ammonia fuel to customers, through own production or third-party producers.

CMB.TECH is headquartered in Antwerp, Belgium, and has offices across Europe, Asia and Africa.

CMB.TECH is listed on Euronext Brussels and the NYSE under the ticker symbol “CMBT” and on Euronext Oslo Børs under the ticker symbol “CMBTO”.

More information can be found at https://cmb.tech

Forward-Looking Statements

Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbour protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The Company desires to take advantage of the safe harbour provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbour legislation. The words "believe", "anticipate", "intends", "estimate", "forecast", "project", "plan", "potential", "may", "should", "expect", "pending" and similar expressions identify forward-looking statements.

The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, our management's examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections.

In addition to these important factors, other important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the failure of counterparties to fully perform their contracts with us, the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for tanker vessel capacity, changes in our operating expenses, including bunker prices, dry-docking and insurance costs, the market for our vessels, availability of financing and refinancing, charter counterparty performance, ability to obtain financing and comply with covenants in such financing arrangements, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, vessels breakdowns and instances of off-hires and other factors. Please see our filings with the United States Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties.

This information is published in accordance with the requirements of the Continuing Obligations on Euronext Oslo Børs

Contact

CMB.TECH
Katrien Hennin
Head of Marketing and Communications
+32 499 39 34 70
[email protected]

Joris Daman
Head of Investor Relations
Tel: +32 498 61 71 11
[email protected]

CMBT_Q1_Earnings_Notice_ENG

CMB.TECH ANNOUNCES Q1 2026 RESULTS
FIRING ON ALL CYLINDERS

ANTWERP, Belgium, 19 May 2026 – CMB.TECH NV (“CMBT”, “CMB.TECH” or “the company”) (NYSE: CMBT, Euronext Brussels: CMBT and Euronext Oslo Børs: CMBTO) reported its unaudited financial results today for the first quarter ended 31 March 2026.

HIGHLIGHTS

Financial highlights: Profit for the period of USD 368.8 million in Q1 2026. EBITDA for the same period was USD 558.3 million.CMB.TECH’s contract backlog increased to USD 3.26 billion with the addition of 1 x 5-year Suezmax time charter and extension of 2 x Suezmax time charters by one year to a 10-year time charter each (with a profit split).Intention to distribute an amount of USD 0.64 per share. Fleet highlights:

Delivery of 7 newbuilding vessels (Q1 + Q2 to date): Newcastlemaxes: Mineral LatvijaVLCCs: Eburones, MenapiiSuezmaxes: Cap Grace, Cap JosephChemical tanker: Bochem CallaoCSOV: Windcat Haarlem Previously announced sale of 8 VLCCs: Daishan (2007, 306,005 dwt), Hirado (2011, 302,550 dwt), Ilma (2012, 314,000 dwt), Ingrid (2012, 314,000 dwt), Hojo (2013, 302,965 dwt), Dia (2015, 299,999 dwt), Antigone (2015, 299,421 dwt), and Aegean (2016, 299,999 dwt). Previously announced sale of Capesize vessels Golden Magnum (2009, 179,790 dwt), and Belgravia (2009, 169,390 dwt). Sale of Suezmax Sienna (2007 - 150,205 dwt). The sale will generate a gain of USD 29.2 million and is expected to be recognised upon delivery in the second quarter of 2026. For the first quarter of 2026, the company realised a net gain of USD 368.8 million or USD 1.27 per share (first quarter 2025: a net gain of 40.4 USD million or USD 0.23 per share). EBITDA (a non-IFRS measure) for the same period was USD 558.3 million (first quarter 2025: USD 158.4 million).

“CMB.TECH is firing on all cylinders. We are reaping the benefits of a red-hot tanker market through a mix of sales of older vessels at stellar prices, a historically high spot market and the addition of lucrative long-term charters. At the same time, the dry bulk market is powering on in all segments, but specifically Capesizes and Newcastlemaxes. Our spot results have been strong during Q1 and will be even stronger in Q2. With HFO prices up by 50 %, we manage to extract more profit from the going market rates thanks to our very modern and super eco fleet. Last but not least, our offshore energy division Windcat has been able to fix two of its CSOVs at excellent rates, testimony to the high quality of our vessels.

We are harvesting the fruits of our hard work over the past two years: well-timed newbuilding orders, well-timed acquisitions and a market which is going our way.

We don’t know how long this Goldilocks moment will continue amidst many uncertainties surrounding global trade and a growing orderbook. But we will use the current momentum to continue to strengthen our balance sheet, pay dividends and convert some of the current market strength into longer term charters.” - Alexander Saverys, CEO CMB.TECH.

Key figures

         The most important key figures (unaudited) are:               (in thousands of USD)   First Quarter 2026 First Quarter 2025          Revenue          519,630         235,044  Other operating income          20,331         7,134          Raw materials and consumables          (1,409)         (2,809)  Voyage expenses and commissions          (104,819)         (42,404)  Vessel operating expenses          (127,487)         (61,829)  Charter hire expenses          (218)         (313)  General and administrative expenses          (27,787)         (22,847)  Net gain (loss) on disposal of tangible assets          267,354         46,451  Depreciation and amortisation          (106,571)         (55,671)  Impairment reversals          589         —          Net finance expenses          (81,697)         (64,215)  Share of profit (loss) of equity accounted investees          12,096         (51)  Result before taxation          370,012         38,490          Income tax benefit (expense)          (1,178)         1,883  Profit (loss) for the period          368,834         40,373          Attributable to:        Owners of the Company          368,834         43,998   Non-controlling interest          —         (3,625)                 Earnings per share:             (in USD per share) First Quarter 2026 First Quarter 2025         Weighted average number of shares (basic) *         290,169,769         194,216,835          Basic earnings per share         1.27         0.23                        The number of shares issued on 31 March 2026 is 315,977,647. However, the number of shares excluding the owned shares held by CMB.TECH at 31 March 2026 is 290,169,769.          EBITDA reconciliation (unaudited):               (in thousands of USD)  First Quarter 2026 First Quarter 2025          Profit (loss) for the period          368,834         40,373          + Net finance expenses          81,697         64,215          + Depreciation and amortisation          106,571         55,671          + Income tax expense (benefit)          1,178         (1,883)          EBITDA (unaudited)          558,281         158,376                          EBITDA per share:               (in USD per share)  First Quarter 2026 First Quarter 2025          Weighted average number of shares (basic)          290,169,769         194,216,835          EBITDA          1.92         0.82                          All figures, except for EBITDA, have been prepared under IFRS as adopted by the EU (International Financial Reporting Standards) and have not been audited nor reviewed by the statutory auditor.

Intention of distribution

The Supervisory Board intends to approve a total distribution of USD 0.64 per share (the "Distribution"), which is proposed to be a combination of (i) an interim dividend of USD 0.20 per share (subject to 30% withholding tax, to the extent no exemption or reduction applies) and (ii) a first payment of USD 0.44 per share out of the share premium reserve (which is exempt from withholding tax).

The approval of the Distribution by the Supervisory Board is subject to, and conditional upon:

(i) the approval by the General Shareholders' Meeting of CMB.TECH, scheduled for 21 May 2026, of the agenda item relating to the distribution out of the share premium reserve; and

(ii) the completion of the corporate procedures prescribed by the Belgian Companies and Associations Code (Wetboek van vennootschappen en verenigingen / Code des sociétés et des associations) with respect to the interim dividend.

CMB.TECH will provide further information on the payment date, record date and other practical modalities of the Distribution once the Distribution is effectively approved (currently scheduled for end of May 2026), in accordance with applicable regulations.

TCE

The average daily time charter equivalent rates (TCE, a non IFRS-measure) can be summarised as follows:

 Q1 2026Q1 2025Quarter-to-Date Q2 2026USD/dayUSD/dayUSD/dayFixed %DRY BULK VESSELSNewcastlemax average spot rate(1)28,12018,39344,10580%Newcastlemax average time charter rate24,114   Capesize average spot rate(1)26,104 37,70173%Panamax/Kamsarmax average spot rate(1)14,578 19,40274%Panamax/Kamsarmax average time charter rate13,456   TANKERSVLCC average spot rate (2)70,20435,101182,73181%VLCC average time charter rate(3)55,14446,135  Suezmax average spot rate(1) (3)91,84941,391122,14783%Suezmax average time charter rate33,90531,328  CONTAINER VESSELSAverage time charter rate29,37829,378  CHEMICAL TANKERSAverage spot rate(1) (2)21,45820,52121,06333%Average time charter rate19,30619,306   OFFSHORE ENERGYCSOV Average time charter rate64,837 62,301100%CTV Average time charter rate2,6092,3763,41491% 1) Reporting load-to-discharge for actual TCEs, in line with IFRS 15, net of commission
(2) CMB.TECH owned ships in TI Pool or Stolt Pool (excluding technical off hire days)
(3) Including profit share where applicable

CMB.TECH FLEET DEVELOPMENTS

Commercial contracts

CMB.TECH’s contract backlog increased by USD 109 million to USD 3.26 billion:

1 x 5-year Suezmax time charter: Cedar (2011, 165,000 dwt)Extension 2 x Suezmax time charters by one year to a 10-year time charter each: Cap Grace (2026, 156,000 dwt), Cap Joseph (2026, 156,000 dwt) (with profit split) Sales

Following vessels were delivered to new owners in Q1 2026 - generating a total capital gain of approximately USD 267.4 million:

Capesize vessels Golden Magnum (2009, 179,790 dwt), and Belgravia (2009, 169,390 dwt) - capital gain of approximately USD 8.1 million in Q1 2026, based on the net sales price and book valuesSix VLCCs: Daishan (2007, 306,005 dwt), Hirado (2011, 302,550 dwt), Hojo (2013, 302,965 dwt), Dia (2015, 299,999 dwt), Antigone (2015, 299,421 dwt), and Aegean (2016, 299,999 dwt) - capital gain of approximately USD 259.3 million in Q1 2026, based on the net sales price and book values. Following vessels will be delivered to new owners in Q2 2026:

Two VLCCs: Ilma (2012, 314,000 dwt) and Ingrid (2012, 314,000 dwt) - capital gain of approximately USD 98.2 million in Q2 2026, based on the net sales price and book values.One Suezmax Sienna (2007, 150,205 dwt). The sale will generate a gain of USD 29.2 million and is expected to be recognised upon delivery in the second quarter of 2026. Newbuilding deliveries

Delivery dateType of vesselName12 January 2026VLCCEburones (2026, 319,000 dwt)13 January 2026Chemical tankerBochem Callao (2026, 25,000 dwt)23 March 2026VLCCMenapii (2026, 319,000)8 April 2026SuezmaxCap Grace (2026, 156,000 dwt)27 April 2026SuezmaxCap Joseph (2026, 156,000 dwt)4 May 2026CSOVWindcat Haarlem (2026)11 May 2026NewcastlemaxMineral Latvija (2026, 210,000 dwt) MARKET & OUTLOOK

Bocimar – Dry-Bulk Market1

The dry bulk markets entered 2026 with strong momentum, with the Baltic Dry Index averaging materially higher year-on-year in Q1 and spot earnings across major vessel classes trending well above seasonal norms. Capesize C5TC (BCI-182) time charter equivalent (TCE) earnings averaged USD 26,405 per day during Q1 2026, compared to a 10-year historical average of USD 16,350 per day2. Average sector earnings in the first quarter were supported by robust major bulk volumes, firm minor bulk activity, and generally tighter effective fleet supply. Continuing on a strong Q1, the Capesize C5TC (BCI-182) average for April stands at 34,920 USD/day, the strongest since April 2001 and 15,263 USD/day higher compared to April 2025 (BCI-182 recalculated basis) – and increased further up to 48,433 USD/day on 13 May.

Iron ore trade demonstrated notable resilience in Q1 2026, with seaborne volumes underpinned by stable Chinese import demand, which increased by 11.0% quarter-to-date year-on-year. Although Chinese steel production showed regional variability, consistent blast furnace utilisation rates and firm export activity continued to support demand for high-grade iron ore. Inventory levels, while elevated in absolute terms, remained within a manageable range at approximately 35 days of consumption, compared to a 2010–2025 average of around 30 days. From a dry bulk shipping perspective, Capesize demand continues to be more closely linked to production and export volumes from major mining companies rather than fluctuations in steel production. In this context, Q1 2026 production guidance from leading miners reaffirmed a constructive outlook, with Rio Tinto guiding 343–366 MMT for 2026, Vale 335–345 MMT for 2026, and Fortescue 195–205 MMT for the 2025/2026 period. In addition, the Simandou project has begun to ramp up meaningfully in early 2026, with the port stockpile increasing to above 2 MMT by the end of Q1 and seaborne shipments rising from approximately 0.6 MMT in Q1 to around 1.2 MMT in April alone, marking a clear step-change in export volumes. Furthermore, vessel activity at Morebaya port is increasing, with a growing number of Capesize vessels observed waiting and loading Simandou cargoes on a month-over-month basis.

In addition to long-haul iron ore flows, Q1 2026 Capesize demand continued to benefit from the sustained ramp-up in bauxite exports from Guinea. Seaborne bauxite volumes maintained strong momentum, increasing by 9.6 MMT year-on-year, or 14.8%. Further support for ton-mile demand has come from logistical disruptions in the Middle East. The closure of the Strait of Hormuz has effectively re-routed approximately 9% of global aluminium production, creating additional demand for both bauxite and alumina shipments over longer distances. Market speculation has re-emerged regarding the potential introduction of export restrictions in Guinea at a level of 150 MMT per annum. At this stage, such measures remain unconfirmed. Available data continues to point to robust growth, with April bauxite exports reaching 23.1 MMT, representing a year-on-year increase of 12.4%. Pending any formal policy changes, the prevailing trend remains one of expanding long-haul cargo volumes, providing continued support to Capesize utilisation and a firmer freight market.

On the demand side, coal has emerged as a key upside driver in 2026. Market dynamics were significantly shaped by disruptions in global gas supply during the quarter. The temporary loss of approximately 80 mtpa of Qatari LNG capacity has been effectively offset by increased seaborne coal demand, with April coal exports rising by around 7.5% year-on-year (7.6 MMT). Elevated natural gas prices have further incentivised gas-to-coal switching, particularly across Europe and parts of Northeast Asia (Japan, South Korea, and Taiwan). This has supported increased thermal coal imports into the EU, India, and select Asian markets. Even in the event of a reopening of the Strait of Hormuz, structural constraints are expected to persist. Trains S4 and S6 at the Ras Laffan complex are projected to remain offline for the next 3–5 years, removing 12.8 mtpa of LNG supply and implying an incremental coal demand boost of approximately 39.7 MMT, or +3.0%. Metallurgical (coking) coal volumes, meanwhile, have remained relatively stable, underpinned by restocking activity and resilient Australian supply. Looking ahead, emerging El Niño conditions may provide an additional tailwind. Historically, reduced hydroelectric output in China during such periods has driven spikes in coal imports, most notably a 52% increase in 2023 (+130MMT).

Grain and agribulk shipments followed typical seasonal patterns, with strong South American soybean flows offset by softer Middle East–bound volumes, where rerouting and execution risk linked to the Strait of Hormuz limited trade visibility. Looking ahead, evolving El Niño conditions may further reshape trade flows. Potential drought impacts in Australia could weigh on grain export volumes, while improved weather conditions in Latin America are expected to support stronger harvests and higher export availability. This shift in regional supply dynamics would likely increase average voyage distances, providing incremental tonne-mile demand for the Kamsarmax/Panamax dry bulk fleet. In addition, El Niño-related constraints on Panama Canal draught levels tend to disproportionately impact the Kamsarmax segment, meaning that Panama Canal transits may become constrained during peak US agribulk export season in Q4 2026, driving additional re-routing and a corresponding increase in tonne-mile demand.

On the supply side, effective fleet growth remained constrained despite a gradually expanding newbuilding orderbook (Capesize OB/F 14.57%; Panamax OB/F 14.26%). A combination of slower sailing speeds (down 2.9% since the start of Operation Epic Fury), elevated bunker prices, periodic congestion, and temporary vessel displacement linked to geopolitical disruptions continued to limit effective capacity. Simultaneously, the fleet is ageing rapidly. Vessels delivered during the 2000–2008 ordering cycle are now approaching 20 years of age. By 2030, an estimated 39% of the fleet will be 20 years or older, an evolution that is already having a tangible impact on fleet efficiency. Capesize vessels transitioning from 17 to 18 years of age typically experience an average utilisation decline of approximately 13% in that year alone, with utilisation falling by a further 31% over the subsequent five years. Next to constrained yard capacity, also elevated newbuilding prices further constrain supply growth. At current time charter rate levels, returns do not meet an 8% unlevered hurdle, acting as a natural brake on new ordering activity. Absent a sustained increase in freight rates, the conditions required to trigger a meaningful fleet renewal cycle are unlikely to materialise.

Bocimar has 38 (+8NB) Newcastlemaxes on the water (average age 3.2y), 37 Capesize vessels on the water (average age 11.2), and 30 Kamsarmax/Panamax vessels on the water (average age 6.9y).

Bocimar performance highlights (in USD):

 TCE Q1 2026QTD Q2 2026Newcastlemax28,12044,105 (80% fixed)Capesize26,10437,701 (73% fixed)Kamsarmax/Panamax14,57819,402 (74% fixed) Euronav – Tanker Markets3

Crude tanker markets experienced exceptional volatility during Q1 2026, primarily driven by escalating geopolitical tensions in the Middle East and the disruption of shipping flows through the Strait of Hormuz. Transit volumes through the Strait declined materially, temporarily removing a meaningful portion of the VLCC (115 vessels) and Suezmax (24 vessels) fleets from effective supply. The resulting scramble for available tonnage led to sharp spikes in spot freight rates across key benchmark routes. However, it is important to note that parts of this rate surge were largely indicative, as actual fixture activity in the Middle East remained almost non-existent during the period, rendering some benchmarks effectively paper based. Against this backdrop, VLCC time charter equivalent (TCE) earnings averaged USD 156,601 per day in Q1 2026, compared to a 10-year historical average of USD 46,504 per day. Suezmax earnings followed a similar trajectory, with Q1 2026 TCE averaging USD 152,067 per day versus a 10-year average of USD 44,565 per day.

Over time, the disruption to crude oil flows has driven a gradual rebalancing of global trade patterns. Increased reliance on Atlantic Basin supply, most notably higher U.S. crude exports to Europe and Asia, has materially extended voyage distances and supported tonne-mile demand. In parallel, strategic stock releases and inventory drawdowns by consuming countries have partially alleviated immediate oil supply shortages, while reinforcing long-haul trading activity and vessel demand. By mid-April, with the Strait of Hormuz still effectively closed, a growing number of ballasting vessels repositioned to the U.S. Gulf, creating a growing risk of oversupply in the Atlantic basin and exerting downward pressure on spot rates as tonnage availability starts to gradually outpace cargo demand. On March 2nd, the TD22 USG (TCE) stood at 154,565 USD/day, spiking at 216,221 USD/day at March 4th, and cooling down gradually over the next weeks to 93,961 USD/day by April 30th. Over the same period, the VLCC utilisation (ratio laden versus ballasters) declined materially, and the number of VLCCs West of Suez increased by 28.8%. This pressure is expected to persist the longer the Strait remains closed, reinforced with broader macroeconomic implications and more pronounced effects on tanker demand.

Once reopened, restocking of global inventories, either to pre-conflict levels or even higher as a buffer against ongoing geopolitical risk, is likely to underpin tanker demand and freight rates. However, over the medium term, the market may revert back to its oversupplied conditions, potentially further accelerated by the United Arab Emirates’ decision to exit OPEC/OPEC+ effective 1 May. In addition, current elevated oil prices and energy dependence are also expected to have a lasting impact on global consumption patterns. Chinese NEV (new energy vehicle) exports continue to set new records, with March year-on-year growth of a staggering 135%. In addition, increased investment in renewable energy as part of broader energy security and independence strategies is expected to accelerate. Chinese solar exports hit 68 GW in March, doubling February volume. South-East Asia leading the jump with march PV imports +200% vs Feb as South-East Asia oil shock fuels search for energy alternatives and independence.

On the supply side, fleet orders increased significantly over the last months. The current OB/F stands at 27.36% for VLCCs, and 28.04% for Suezmaxes – with other databases already reporting OB/F’s 32.6% and 30.6%, respectively. Thereby crude tanker supply surpasses crude tanker tonne-mile trade demand in both 2026 (by -6.8%) and 2027 (by -2.7%). At the same time, fleet aging remains a key consideration. Currently, 43% of VLCCs and 41% of Suezmaxes are older than 15 years, indicating that a significant portion of the fleet will surpass 20 years of age within the next five years.

Euronav has 2 FSOs (average age 24y), 4 (+2NB) VLCCs (average age 1.8y) and 18 Suezmaxes (average age 7.2y) on the water.

Euronav performance highlights (in USD):

 TCE Q1 2026QTD Q2 2026VLCC70,204182,731 (81% fixed)SUEZMAX91,849122,147 (83% fixed)  Delphis – Container Markets4

The conflict in the Middle East has significantly disrupted regional container flows. The Strait of Hormuz is effectively closed to regular container traffic, having previously accounted for around 10% of global boxship capacity calls. Across all container vessel sizes, 129 vessels are currently trapped inside the Persian Gulf, and vessel transits through the strait have dropped sharply to fewer than one per day in March, compared to 20–25 prior to the conflict. Operators are increasingly relying on alternative logistics solutions, including land-based routing via Red Sea ports. Disruption effects are also spreading beyond the immediate region, with congestion hotspots emerging and operational inefficiencies increasing, port capacity utilisation in the Indian Subcontinent has surged to record levels, while average vessel speeds have declined with 2.1%. Expectations for a return to normal Red Sea transits have been pushed further out (again), as liner companies delay rerouting plans amid continued security concerns, including renewed threats in the Gulf of Aden, where containership transits have fallen to an 18-month low.

Hence, container shipping markets unexpectedly strengthened again in March. Time charter rates rose to new post-pandemic highs (and the highest level since September 2022), reflecting increased chartering activity from liner operators seeking to manage operational uncertainty. Freight markets experienced more pronounced impacts, particularly on routes to and from the Middle East Gulf, where disruption has driven higher costs. Elevated bunker prices have also contributed to broader rate increases, with the SCFI spot index rising by 43.3% since end-February to date.

Despite recent strength, market fundamentals suggest a potential softening later in 2026 again. Global seaborne container trade in billion TEU-miles is currently projected to grow by only 1.1% in 2026, down from 4.9% in 2025, and declining further in 2027 by -6.6%. The OB/F ratio stands at 37.7%, and fleet supply is expected to expand by 4.7% in 2026 and 7.6% in 2027. Trade growth forecasts have been revised downward in light of Middle East developments, with regional volumes likely to remain under pressure in the near term. Broader macroeconomic effects, including higher energy costs, are also expected to weigh on global trade flows, though the extent and duration of these impacts remain uncertain.

CMB.TECH’s 4 x 6,000 TEU (average age 1.8y) and 1 NB 1,400 TEU container vessels are all employed under 10 to 15-year time charter contracts.

Bochem – Chemical Markets5

Often overlooked, the Strait of Hormuz is also a critical passage for the global chemical tanker market. Arabian Gulf countries account for approximately 27 million tonnes of chemical exports, and while the strait represents only around 10% of total global chemical exports, its importance is far greater for specific trades. More than 20% of global organic chemical exports transit this route, with methanol, ethylene glycol and styrenics most affected. Asian markets were particularly exposed given their reliance on Middle Eastern supply.

In the immediate aftermath of the disruption, freight rates were supported by vessel dislocation, longer sailing distances and sharply higher war‑risk and insurance costs, despite weakening cargo volumes. As the quarter progressed, reduced Gulf exports translated into outright volume losses, force majeure declarations and lower operating rates at Asian petrochemical plants dependent on Middle Eastern feedstocks. Given the limited availability of alternative supply sources outside the Arabian Gulf, a prolonged closure of the Strait of Hormuz would be expected to result in a sharp decline in global organic chemical trade.

Regional imbalances persisted, with transatlantic and intra‑Asian trades remaining comparatively more resilient than Middle East‑linked routes. By the end of Q1, freight rate resilience increasingly contrasted with deteriorating underlying trade fundamentals, particularly for coated tonnage with higher exposure to organic chemicals.

Looking ahead, chemical tanker demand measured in billion tonne‑miles is forecast to contract by 2.1% in 2026, before recovering by 3.9% in 2027. Fleet supply growth is expected to exceed demand, with the global chemical tanker fleet projected to expand by 8.9% in 2026 and 6.4% in 2027.

Bochem’s 25,000 DWT chemical tankers fleet comprises out of 8 delivered vessels, and 8 NB vessels (average age <1y). They are employed under a 10-year time charter (6 vessels), under a 7-year time charter (6 vessels), and in a spot pool (2 vessels).

Bochem performance highlights (in USD):

 TCE Q1 2026QTD Q2 202625k DWT stainless Steel (Pool)21,45821,063 (33% fixed) Windcat – Offshore Energy Markets6

The CSOV market remained robust in early 2026, with CSOVs benefiting from strong activity over the winter off-season. In Q1, virtually all top-tier CSOVs in Europe found work, a second consecutive winter of near-full utilisation, reflecting healthy demand from both offshore wind and oil & gas projects. Charter rates held firm through the winter stepped up sharply for summer-season contracts, with average spring/summer fixing levels around TCE 58,000–67,000 USD/day and some short-term or oil & gas jobs exceeding TCE of 70,000 USD/day.

For the remainder of 2026, the outlook is positive. Peak summer installation activity is expected to keep CSOVs well employed at solid day rates. However, vessel supply will expand as more than 20 new CSOV deliveries arrive this year, which could introduce excess capacity towards the end of the year (the traditionally quieter winter period) and ease the ultra-tight market conditions seen recently. Nonetheless, rising interest from the oil & gas sector, for example, recent CSOV charters for Brazilian offshore campaigns, provides an additional demand driver, and steady operations & maintenance needs from the growing installed base of wind farms should help support utilisation even if wind project starts slow temporarily. Meanwhile, broader geopolitical factors underline the strategic importance of energy independence: heightened energy security concerns amid current Middle East tensions (including potential disruptions in critical shipping routes) are prompting governments to accelerate both renewable offshore wind projects and oil & gas hydrocarbon investment. These trends, together with disciplined newbuild ordering (no new CSOVs were ordered in Q1 2026), underpin a constructive longer-term demand picture for CSOVs.

The CTV market also saw a solid start to 2026. After a slow January, chartering activity picked up through Q1, by May, the vast majority of European CTVs has been booked for the 2026 maintenance season, with only a handful of vessels left on the spot market. Larger 12- and 24-pax vessels with superior seakeeping and deck capacity were again the preferred choice for most clients. Day rates have remained broadly in line with last year’s levels, with a slight upward trend observed as the season approaches.

Looking ahead, CTV utilisation is expected to stay high through the summer months amid steady offshore service demand. Supply-side dynamics remain favourable: new vessel introductions in 2026 are modest and focused on modern, higher-capacity designs, while ongoing industry consolidation has reduced the risk of overcapacity.

Windcat has 3 (+4NB) CSOVs, and 59(+4NB) CTVs (average age 10.4y).

Windcat performance highlights (in USD):

 TCE Q1 2026QTD Q2 2026CSOV64,83762,301 (100% fixed)CTV2,6093,414 (91% fixed) CONFERENCE CALL
The call will be a webcast with an accompanying slideshow. You can find the details of this conference call below and on the “Investor Relations” page of the website. The presentation, recording & transcript will also be available on this page.

Webcast Information Event Type: Video conference call with slide presentationEvent Date:19 May 2026Event Time:8 a.m. EST / 2 p.m. CETEvent Title: “Q1 2026 Earnings Conference Call”Event Site/URL:  https://events.teams.microsoft.com/event/9600de65-6747-468b-bb10-eb435b6a1780@d0b2b045-83aa-4027-8cf2-ea360b91d5e4 To attend this conference call, please register via the following link.

Telephone participants who are unable to pre-register may dial in to the respective number of their location (to be found here). The Phone conference ID is the following: 266 848 625#

Annual General Meeting – 21 May 2026

About CMB.TECH

CMB.TECH (all capitals) is one of the largest listed, diversified and future-proof maritime groups in the world with a combined fleet of about 250 vessels: dry bulk vessels, crude oil tankers, chemical tankers, container vessels and offshore energy vessels. CMB.TECH also offers hydrogen and ammonia fuel to customers, through own production or third-party producers.

CMB.TECH is headquartered in Antwerp, Belgium, and has offices across Europe, Asia and Africa.

CMB.TECH is listed on Euronext Brussels and the NYSE under the ticker symbol “CMBT” and on Euronext Oslo Børs under the ticker symbol “CMBTO”.

More information can be found at https://cmb.tech

Forward-Looking Statements

Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbour protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The Company desires to take advantage of the safe harbour provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbour legislation. The words "believe", "anticipate", "intends", "estimate", "forecast", "project", "plan", "potential", "may", "should", "expect", "pending" and similar expressions identify forward-looking statements.

The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, our management's examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections.

In addition to these important factors, other important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the failure of counterparties to fully perform their contracts with us, the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for tanker vessel capacity, changes in our operating expenses, including bunker prices, dry-docking and insurance costs, the market for our vessels, availability of financing and refinancing, charter counterparty performance, ability to obtain financing and comply with covenants in such financing arrangements, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, vessels breakdowns and instances of off-hires and other factors. Please see our filings with the United States Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties.

This information is published in accordance with the requirements of the Continuing Obligations on Euronext Oslo Børs.

Contact

CMB.TECH
Katrien Hennin
Head of Marketing and Communications
+32 499 39 34 70
[email protected]

Joris Daman
Head of Investor Relations
Tel: +32 498 61 71 11
[email protected]

Condensed consolidated interim statement of financial position (unaudited)

(in thousands of USD)

          March 31, 2026  December 31, 2025ASSETS             Non-current assets      Vessels          6,441,456  6,323,773Assets under construction          759,807  738,298Right-of-use assets          5,563  4,847Other tangible assets          35,266  23,981Prepayments          —  1,075Intangible assets          13,956  12,710Goodwill          190,689  177,022Receivables          97,794  97,116Investments          132,308  111,346Deferred tax assets          2,705  2,850       Total non-current assets  7,679,544  7,493,018       Current assets      Inventory          82,820  77,175Trade and other receivables          350,513  320,843Current tax assets          3,417  4,912Short-term investments          8,271  —Cash and cash equivalents          194,600  146,529   639,621  549,459       Non-current assets held for sale          137,513  363,097       Total current assets  777,134  912,556       TOTAL ASSETS  8,456,678  8,405,574              EQUITY and LIABILITIES             Equity      Share capital          343,440  343,440Share premium          1,817,557  1,817,557Translation reserve          4,662  9,502Hedging reserve          499  90Treasury shares          (284,508)  (284,508)Retained earnings          1,059,646  737,239       Equity attributable to owners of the Company  2,941,296  2,623,320       Non-current liabilities      Bank loans          2,783,764  2,839,590Other borrowings          1,902,228  1,876,815Lease liabilities          4,565  3,368Other payables          1,983  —Employee benefits          1,177  1,180Provisions          450  —Deferred tax liabilities          27  485       Total non-current liabilities  4,694,194  4,721,438       Current liabilities      Trade and other payables          258,000  222,492Current tax liabilities          9,351  8,288Bank loans          180,717  351,170Other notes          200,327  203,287Other borrowings          171,124  273,898Lease liabilities          1,667  1,681Provisions          2  —       Total current liabilities  821,188  1,060,816       TOTAL EQUITY and LIABILITIES  8,456,678  8,405,574               Condensed consolidated interim statement of profit or loss (unaudited)

(in thousands of USD except per share amounts)

          2026  2025   Jan. 1 - Mar. 31, 2026  Jan. 1 - Mar. 31, 2025Shipping income      Revenue  519,630  235,044Gains on disposal of vessels/other tangible assets  267,354  46,451Other operating income  20,331  7,134Total shipping income  807,315  288,629       Operating expenses      Raw materials and consumables          (1,409)          (2,809)Voyage expenses and commissions          (104,819)  (42,404)Vessel operating expenses          (127,487)  (61,829)Charter hire expenses          (218)  (313)Depreciation tangible assets          (105,860)  (54,854)Amortisation intangible assets          (711)  (817)Impairment reversals          589          —General and administrative expenses  (27,787)  (22,847)Total operating expenses  (367,702)  (185,873)       RESULT FROM OPERATING ACTIVITIES  439,613  102,756       Finance income  12,174  6,237Finance expenses  (93,871)  (70,452)Net finance expenses  (81,697)  (64,215)       Share of profit (loss) of equity accounted investees (net of income tax)          12,096  (51)       PROFIT (LOSS) BEFORE INCOME TAX  370,012  38,490       Income tax benefit (expense)  (1,178)  1,883       PROFIT (LOSS) FOR THE PERIOD  368,834  40,373       Attributable to:      Owners of the company  368,834  43,998Non-controlling interest  —          (3,625)       Basic earnings per share  1.27  0.23Diluted earnings per share  1.27  0.23       Weighted average number of shares (basic)  290,169,769  194,216,835Weighted average number of shares (diluted)  290,169,769  194,216,835                      Condensed consolidated interim statement of comprehensive income (unaudited)

(in thousands of USD)

          2026  2025   Jan. 1 - Mar. 31, 2026  Jan. 1 - Mar. 31, 2025       Profit/(loss) for the period  368,834  40,373       Other comprehensive income (expense), net of tax      Items that will never be reclassified to profit or loss:      Remeasurements of the defined benefit liability (asset)          —          —       Items that are or may be reclassified to profit or loss:      Foreign currency translation differences  (4,840)  4,182Cash flow hedges - effective portion of changes in fair value  409  (1,184)       Other comprehensive income (expense), net of tax  (4,431)  2,998       Total comprehensive income (expense) for the period  364,403  43,371       Attributable to:      Owners of the company  364,403  46,996Non-controlling interest  —  (3,625)               Condensed consolidated interim statement of changes in equity (unaudited)

(In thousands of USD)

 Share capitalShare premiumTranslation reserveHedging reserveTreasury sharesRetained earningsEquity attributable to owners of the CompanyNon-controlling interestTotal equity          Balance at January 1, 2025239,148460,486(2,045)2,145(284,508)777,0981,192,324—1,192,324          Profit (loss) for the period        —        —        —        —        —43,99843,998(3,625)40,373Total other comprehensive income (expense)        —        —4,182(1,184)        —        —2,998—2,998Total comprehensive income (expense)        —        —4,182(1,184)        —43,99846,996(3,625)43,371          Transactions with owners of the company         Business Combination        —        —        —        —        —        41,04141,0411,346,199        1,387,240Total transactions with owners        —        —        —        —        —        41,04141,0411,346,1991,387,240          Balance at March 31, 2025239,148460,4862,137961(284,508)862,1371,280,3611,342,5742,622,935                               Share capitalShare premiumTranslation reserveHedging reserveTreasury sharesRetained earningsEquity attributable to owners of the CompanyNon-controlling interestTotal equity          Balance at January 1, 2026343,4401,817,5579,50290(284,508)737,2392,623,320—2,623,320          Profit (loss) for the period        —        —        —        —        —368,834368,834—368,834Total other comprehensive income (expense)        —        —(4,840)409        ——(4,431)—(4,431)Total comprehensive income (expense)        —        —(4,840)409        —368,834364,403—364,403          Transactions with owners of the company         Dividends to equity holders        ——        —        —        —(46,427)(46,427)—(46,427)Total transactions with owners—————(46,427)(46,427)—(46,427)          Balance at March 31, 2026343,4401,817,5574,662499(284,508)1,059,6462,941,296—2,941,296                      Condensed consolidated interim statement of cash flows (unaudited)

(in thousands of USD)

                 2026  2025   Jan. 1 - Mar. 31, 2026  Jan. 1 - Mar. 31, 2025       Net cash from (used in) operating activities  167,351  33,444       Net cash from (used in) investing activities  204,408  (1,243,591)       Net cash from (used in) financing activities  (324,547)  1,341,620       Net increase (decrease) in cash and cash equivalents  47,212  131,473       Net cash and cash equivalents at the beginning of the period  146,529  38,869Effect of changes in exchange rates  859  (7,457)       Net cash and cash equivalents at the end of the period  194,600  162,886        1 Source: AXS Marine, Clarksons SIN, Breakwave Advisors, BRS, S&P Global, Arctic, Reuters, Rio Tinto, Arrow
2 On 1 January 2026, the Baltic Exchange recalibrated its Capesize index by changing the standard reference vessel from a 180,000 DWT ship to a 182,000 DWT “eco” design. This update increased the baseline Baltic Capesize Index (BCI) time charter average by roughly $3,500 per day
3 Source: AXS Marine, Clarksons SIN, IEA, Commodore Research, Ember
4 Source: Clarksons SIN
5 Source: Clarksons SIN, American Chemical Society, Drewry
6 Source: Clarksons Offshore

CMBT_Q1_2026_Earnings_release_

CMB.TECH NV (CMBT) Q1 2026 Earnings Call Transcript

New integrated workflow combines icIEF fractionation and mass photometry Enables direct characterization of aggregation and size within icIEF-resolved charge variants Four-hour workflow reduces development risk and accelerates biosimilar manufacturing , /PRNewswire/ -- Bio‑Techne Corporation (NASDAQ: TECH), a global provider of life science tools, reagents and diagnostic products, and Refeyn, the pioneer in mass photometry technology, today announced a first‑of‑its‑kind integrated workflow for the characterization of charge and size variants in bispecific antibodies and biosimilars.

By combining R&D Systems MauriceFlex™ imaged capillary isoelectric focusing (icIEF) fractionation system with Refeyn's TwoMP mass photometry platform, researchers can directly correlate charge heterogeneity with molecular weight and aggregation at single‑molecule resolution in a streamlined four‑hour workflow.

Bispecific antibodies are among the fastest-growing classes of biotherapeutics, but their structural complexity makes thorough characterization challenging. Incomplete characterization can delay development, increase manufacturing risk, and lead to costly late‑stage failures.

The MauriceFlex™ system delivers high-resolution separation and fractionation of charge variants, a capability increasingly expected in regulatory submissions. However, analyzing the size and aggregation of individual charge fractions has historically been difficult due to the large sample requirements of traditional methods.

The integrated workflow addresses this challenge directly by pairing icIEF fractionation with mass photometry. Charge variants are first separated using MauriceFlex™, then analyzed on Refeyn's TwoMP platform, which requires only nanogram‑level sample and reveals size distribution and aggregation at single‑molecule resolution.

Together, the technologies enable direct characterization of aggregation and size within icIEF-resolved charge variants—an insight not accessible with standalone methods—reducing reliance on multiple tests and enabling faster, more efficient process development.

"Bispecifics are the fastest growing segment within next‑generation antibodies, but they are very difficult to characterize. This approach directly addresses one of the biggest challenges by combining icIEF fractionation with mass photometry. Researchers can now interrogate charge and size variants together in a single workflow," said Gerry Mackay, CEO of Refeyn.

"Our customers are under intense pressure to develop and manufacture increasingly complex biologics faster and more efficiently. Enabling deeper characterization with less sample helps them reduce risk, control costs, and make better decisions earlier in development," said Will Geist, President Bio‑Techne Protein Sciences Segment.

In a joint webinar, scientists demonstrated the workflow using Mosunetuzumab‑axgb and a biosimilar, tracking size-related changes in the molecule across charge variant fractions under multiple conditions. An application note with full findings is available here.

The workflow will also be presented at the American Society for Mass Spectrometry (ASMS) conference, taking place May 31 – June 4, 2026, in San Diego. See booth and poster details here

ABOUT BIO‑TECHNE

Bio‑Techne Corporation (NASDAQ: TECH) is a global life sciences company headquartered in Minnesota, celebrating 50 years of empowering scientific and diagnostic communities to reach better answers. The company provides high‑quality reagents, analytical instruments, and precision diagnostics. Its portfolio is organized into three customer‑focused brands: R&D Systems™, Bio‑Techne Spatial™, and Bio‑Techne Diagnostics™, reflecting the scientific journey from discovery to translational research to clinical decision making. Bio‑Techne operates in 34 locations worldwide and employs approximately 3,000 people. In fiscal year 2025, the company generated over $1.2 billion in net sales. Its more than 500,000 products are used globally by academic researchers, biopharmaceutical and biotechnology companies, and clinical diagnostic laboratories.

For more information on Bio‑Techne, please visit www.bio-techne.com or follow the company on LinkedIn, X, or YouTube.

ABOUT REFEYN

Refeyn specializes in the development, production, and distribution of mass photometry solutions for industry and academia. Its innovative technology enables accurate mass measurement of single molecules in their native state without labels, delivering faster insights with minimal sample compared to conventional methods.

For more information on Refeyn, please visit www.refeyn.com or follow the company on LinkedIn or YouTube.

MEDIA CONTACTS:

Bio‑Techne
David Clair, Vice President Investor Relations
[email protected] 

Corporate Communications
[email protected] 

Refeyn
Catie Lichten
Scientific Communications Manager
[email protected] 

SOURCE Bio-Techne Corporation

, /PRNewswire/ -- PNM, a wholly-owned subsidiary of TXNM Energy (NYSE: TXNM), put forth a plan for future energy resources needed to continue powering homes and businesses with reliable, affordable and clean energy. As part of this plan, PNM has submitted an application with the New Mexico Public Regulation Commission (NMPRC) detailing the resources selected to address growing customer demand, system reliability needs and the state's clean‑energy requirements.

A major step toward New Mexico's clean energy future
The plan advances PNM's transition to 100% carbon‑free electricity under the Energy Transition Act (ETA) during a period of significant growth. It includes additions of wind, solar and storage resources and marks the complete elimination of coal as a generation source for PNM customers in 2031, a historic milestone for New Mexico. 

To meet projected demand growth and replace capacity associated with PNM's planned exit from the Four Corners Power Plant, the company is seeking approval for: 

800 MW of wind resources  240 MW of solar resources  610 MW of battery storage resources  40 MW of natural gas to be used as needed until 2045  An additional 50 - 250 MW of resources are being solicited through a supplemental request for proposals and will be included in a subsequent filing in 2026. Together, these resources will further PNM's 80% carbon-free progress through 2032.  

System growth while protecting existing customers
PNM is forecasting a 40% increase in customer electricity demand by 2032, driven by load growth and the state's economic development efforts. PNM's proposed new resources are designed to meet the increase in demand while ensuring that existing customers are not burdened by costs created by new large load customers. It is important to note, and consistent with what we've previously stated, that none of these large load customers are in any way affiliated with Blackstone.   

In its application to the NMPRC, PNM states that new large load customers need to cover the incremental costs they are adding to the system and pay for a share of the existing system. In addition, PNM's investment in economic development sites will allow system costs to be spread across a larger customer base and make it possible to bring in more wind energy, benefiting all customers. 

Tax incentives provide customer benefit
Subsequent applications will be filed with the NMPRC for additional resources and a new 345‑kV transmission line to deliver the proposed wind resources to customers. By prioritizing the resources included in today's NMPRC application, customers will benefit from federal tax credits available under the Inflation Reduction Act before their expiration. 

Capital Investments
The wind, solar and battery storage in today's application will be secured from third parties. The capital investments to support these resources and the natural gas facility are part of PNM's $4.9 billion 5-year investment plan shared in the company's first quarter earnings release. 

Economic and community benefits
The capital investments associated with the new resources will generate property tax revenue for New Mexico communities. Construction of these projects will also support local jobs. 

Resource selection process
Resources are selected from bids solicited through a request for proposals and evaluated through a rigorous, competitive and independently monitored process to ensure they meet system requirements, manage long‑term costs and support the transition to a cleaner and more resilient energy future. 

The application, which is subject to NMPRC approval, is available at https://www.txnmenergy.com/investors/rates-and-filings/pnm-nmprc-filings.aspx.

Background:
TXNM Energy (NYSE: TXNM), an energy holding company based in Albuquerque, New Mexico, delivers energy to more than 800,000 homes and businesses across Texas and New Mexico through its regulated utilities, TNMP and PNM. For more information, visit the company's website at www.TXNMEnergy.com.

CONTACTS:

     Analysts                           

Media

     Lisa Goodman                   

Corporate Communications

     (505) 241-2160                   

(505) 241-2743

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
Statements made in this press release that relate to future events or expectations, projections, estimates, intentions, goals, targets, and strategies are made pursuant to the Private Securities Litigation Reform Act of 1995.  These forward-looking statements generally include statements regarding the potential transaction between TXNM Energy and Blackstone Infrastructure, including any statements regarding the expected timetable for completing the potential transaction, the ability to complete the potential transaction, the expected benefits of the potential transaction, projected financial information, future opportunities, and any other statements regarding TXNM Energy's and Blackstone Infrastructure's future expectations, beliefs, plans, objectives, results of operations, financial condition and cash flows, or future events or performance. Readers are cautioned that all forward-looking statements are based upon current expectations and estimates. Neither Blackstone Infrastructure nor TXNM Energy assumes any obligation to update this information. Because actual results may differ materially from those expressed or implied by these forward-looking statements, TXNM Energy caution readers not to place undue reliance on these statements. TXNM Energy's business, financial condition, cash flow, and operating results are influenced by many factors, which are often beyond its control, that can cause actual results to differ from those expressed or implied by the forward-looking statements. For a discussion of risk factors and other important factors affecting forward-looking statements, please see TXNM Energy's Form 10-K and Form 10-Q filings and the information filed on TXNM Energy's Forms 8-K with the Securities and Exchange Commission (the "SEC"), which factors are specifically incorporated by reference herein and the risks and uncertainties related to the proposed transaction with Blackstone Infrastructure, including, but not limited to: the expected timing and likelihood of completion of the pending transaction, including the timing, receipt and terms and conditions of any required governmental and regulatory approvals of the pending transaction that could reduce anticipated benefits or cause the parties to abandon the transaction, the occurrence of any event, change or other circumstances that could give rise to the termination of the transaction agreement, including in circumstances requiring the Company to pay a termination fee, the possibility that TXNM Energy's shareholders may not approve the transaction agreement, the risk that the parties may not be able to satisfy the conditions to the proposed transaction in a timely manner or at all, the outcome of legal proceedings that may be instituted against TXNM Energy, its directors and others related to the proposed transaction, risks related to disruption of management time from ongoing business operations due to the proposed transaction, the risk that the proposed transaction and its announcement could have an adverse effect on the ability of TXNM Energy to retain and hire key personnel and maintain relationships with its customers and suppliers, and on its operating results and businesses generally, the amount of costs, fees, charges or expenses resulting from the proposed transaction, and the risk that the price of TXNM Energy's common stock may fluctuate during the pendency of the proposed transaction and may decline significantly if the proposed transaction is not completed. Other unpredictable or unknown factors not discussed in this communication could also have material adverse effects on forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof.

SOURCE TXNM Energy, Inc.

Everest Group, Ltd. (EG) Q1 2026 Earnings Call Transcript

On April 30, 2026, Everest Group Ltd EG shares rose 3.7% today, reaching a current price of $356.76. This price is within a 52-week range of $302.44 to $368.29, highlighting the stock's recent upward momentum.

GF Value™ verdict: Current price is $356.76, which is 14.1% below the GF Value™ of $415.18.GF Score™ is 76/100, indicating an above-average rating based on several key financial metrics.Most notable signal: No insider transactions have been reported in the last three months. Is EG Overvalued or Undervalued? The current price of Everest Group Ltd EG is $356.76, which is 14.1% below the GF Value™ estimate of $415.18. This suggests that the stock is undervalued, presenting a potential opportunity for investors looking for stocks trading below their intrinsic value. The GF Valuation label indicates that EG is currently considered "Modestly Undervalued." This margin of safety could provide a buffer against market volatility, allowing investors to capitalize on a favorable pricing scenario.

GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates. Being undervalued does not guarantee future performance, and investors should consider the broader market conditions and company fundamentals before making any decisions.

How Does EG's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 7.3x 10.7x Forward P/E 6.8x - The current price-to-earnings (P/E) ratio for Everest Group Ltd EG is 7.3x, which is significantly below its 5-year median P/E of 10.7x, indicating that the stock is trading at a discount compared to its historical valuation. The forward P/E of 6.8x further emphasizes this undervaluation. This P/E analysis aligns with the GF Value™ verdict, reinforcing the notion that EG is currently undervalued, presenting a favorable opportunity for investors.

What Does EG's GF Score™ Tell Us? Metric Rating GF Score™ 76 Financial Strength 5/10 Profitability 7/10 Growth 6/10 Valuation 10/10 Momentum 2/10 The GF Score™ of 76/100 indicates that Everest Group Ltd EG is rated above average in terms of long-term investment potential. The strongest area is the Valuation rank at 10/10, suggesting that the stock is significantly undervalued compared to its peers. However, the Momentum rank is notably low at 2/10, indicating potential weaknesses in the stock's price performance momentum. The scores highlight that while there are solid fundamentals, caution should be exercised regarding short-term price movements.

What Are Insiders Doing with EG Stock? In the last three months, there have been no reported insider transactions for Everest Group Ltd EG . This lack of insider activity may suggest that executives and board members are not currently buying or selling shares, which can indicate a neutral outlook on the company's near-term prospects. In environments where insiders are active, their transactions can provide valuable insights into their confidence in the company's future performance.

What This Means for Investors Based on the GF Value™ estimate, Everest Group Ltd EG is currently undervalued, presenting a potential opportunity for investors looking for stocks priced below their intrinsic value. However, as with any investment, it is important to consider a comprehensive analysis of the company's fundamentals and market conditions before making any decisions.

For the complete analysis, visit the Everest Group Ltd EG stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.

Frequently Asked Questions What is EG's GF Score™?

EG's GF Score™ is 76/100, indicating that the stock is rated above average based on key financial metrics which have been shown to correlate with higher long-term returns.

Is EG overvalued or undervalued?

EG is considered undervalued, with a GF Value™ of $415.18 compared to the current price of $356.76, suggesting a potential investment opportunity.

What is EG's P/E ratio?

The current P/E (TTM) ratio for EG is 7.3x, which is significantly below its 5-year median P/E of 10.7x, indicating that the stock is currently trading at a discount compared to its historical valuation.

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].

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HAMILTON, Bermuda--(BUSINESS WIRE)--Everest Group, Ltd. (“Everest” or “the Company”) (NYSE: EG), a global underwriting leader providing world-class reinsurance and specialty insurance solutions, today announced the appointment of Lisa Davis as Head of North America, Wholesale & Specialty.

Ms. Davis will lead Everest’s North America Wholesale & Specialty business, overseeing underwriting strategy, distribution, and portfolio management across the region. She will report to Jason Keen, EVP and CEO of Global Wholesale & Specialty, and serve as a key member of his leadership team.

“Along with her extensive experience, Lisa brings a combination of underwriting discipline, operational leadership, and strong relationships that are critical in this environment,” said Jason Keen. “Her ability to build profitable specialty businesses, lead high-performing teams, and deepen broker relationships will be instrumental as we continue to strengthen our North America platform, deliver disciplined, profitable growth, and execute our long-term strategy.”

Ms. Davis brings more than 35 years of experience building and scaling specialty insurance businesses across wholesale markets, with deep expertise in underwriting leadership, portfolio management, and distribution strategy. Most recently, she led the build-out and expansion of Canopius’ U.S. business, delivering sustained profitable growth while significantly scaling the platform. Prior to that, she served as President and Chief Operating Officer for North America at Sompo America and held leadership roles at Zurich North America and St. Paul Companies.

About Everest

Everest Group, Ltd. (Everest) is a global underwriting leader providing best-in-class property, casualty, and specialty reinsurance and insurance solutions that address customers’ most pressing challenges. Known for a 50-year track record of disciplined underwriting, capital and risk management, Everest, through its global operating affiliates, is committed to underwriting opportunity for colleagues, customers, shareholders, and communities worldwide.

Everest common stock (NYSE: EG) is a component of the S&P 500 index.

Additional information about Everest, our people, and our products can be found on our website at www.everestglobal.com.

More News From Everest Group, Ltd.

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HAMILTON, Bermuda--(BUSINESS WIRE)--Everest Group, Ltd. announced that its Board of Directors declared a dividend of $2.00 per common share. This dividend will be payable on or before June 26, 2026 to all shareholders of record as of June 12, 2026.

About Everest
Everest Group, Ltd. (Everest) is a global underwriting leader providing best-in-class property, casualty, and specialty reinsurance and insurance solutions that address customers’ most pressing challenges. Known for a 50-year track record of disciplined underwriting, capital and risk management, Everest, through its global operating affiliates, is committed to underwriting opportunity for colleagues, customers, shareholders, and communities worldwide.

Everest common stock (NYSE: EG) is a component of the S&P 500 index.

Additional information about Everest, our people, and our products can be found on our website at www.everestglobal.com.

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Our top-performing stocks this quarter were Samsung Electronics, Shell and Lam Research. Our worst contributors were IQVIA, American Express and Heidelberg. We exited our investments in Everest Group and PayPal during the quarter.

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NEW YORK--(BUSINESS WIRE)--American International Group, Inc. (NYSE: AIG) today announced it has entered into a definitive agreement to acquire Everest Compañía de Seguros Generales Colombia S.A. (“Everest Colombia”), Everest Group Ltd.’s (NYSE: EG) insurance subsidiary in Colombia. The acquisition of Everest Colombia strengthens AIG’s presence in the Latin America region and supports the company’s strategy to drive premium growth.

“This acquisition reinforces AIG’s commitment to our Latin America business and will enable us to accelerate our growth in one of the largest and fastest-growing insurance markets in the region,” said Jon Hancock, Executive Vice President and Chief Executive Officer, General Insurance, AIG. “With this acquisition, we are gaining a highly experienced team whose talent and deep understanding of the local market will strengthen our capabilities. Everest Colombia’s focus on corporate and upper-middle-market clients aligns with AIG’s commitment to expand our commercial insurance offerings to clients and brokers across the Latin America region.”

Upon completion of the transaction, subsidiaries of AIG will acquire 100 percent of the equity of Everest Colombia, including its licensed operations, employees and ongoing insurance business. AIG and Everest will work closely to ensure a seamless transition for clients, brokers and colleagues.

The transaction is expected to close in early 2027, subject to regulatory approvals and other customary closing conditions.

Evercore acted as financial advisor and Willkie Farr & Gallagher LLP and Brigard & Urrutia Abogados acted as legal counsel for AIG.

About AIG

American International Group, Inc. (NYSE: AIG) is a leading global insurance organization. AIG provides insurance solutions that help businesses and individuals in more than 200 countries and jurisdictions protect their assets and manage risks through AIG operations, licenses and authorizations as well as network partners. For additional information, visit www.aig.com. This website with additional information about AIG has been provided as a convenience, and the information contained on such website is not incorporated by reference into this press release.

AIG is the marketing name for the worldwide operations of American International Group, Inc. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all countries and jurisdictions, and coverage is subject to underwriting requirements and actual policy language. Non-insurance products and services may be provided by independent third parties. Certain property casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds, and insureds are therefore not protected by such funds.

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HAMILTON, Bermuda--(BUSINESS WIRE)--Everest Group, Ltd. (NYSE: RE) (“Everest”), a global underwriting leader, today announced the inaugural recipient of the Joseph V. Taranto Scholarship, an annual renewable award and part of the company’s broader commitment to expanding opportunity and developing the next generation of leaders.

Established by Everest and its Board of Directors in honor of former Chairman Joseph V. Taranto, the scholarship supports a college‑bound student who demonstrates academic excellence, financial need, and the qualities that have long defined both Everest and Mr. Taranto’s leadership: integrity, discipline, intellectual curiosity, and a commitment to service.

“Developing people and creating opportunity are fundamental to how we operate at Everest,” said Jim Williamson, Everest President and Chief Executive Officer. “This scholarship reflects our long-term commitment to investing in talent, both within our organization and in the communities we serve. It is one of many ways we’re helping build the next generation of leaders.”

The recipient was selected through a competitive process that assessed academic achievement, character, ambition, and alignment with Everest’s values.

The scholarship is part of Everest’s wider approach to “underwriting opportunity” through a combination of educational initiatives, community partnerships, and ongoing talent development programs designed to expand access and cultivate future industry leaders.

“I am deeply honored to have this scholarship carry my name,” said Joseph V. Taranto, former Chairman of Everest. “Throughout my career, I’ve believed that creating opportunities for others is the most meaningful legacy any leader can leave. Supporting young people with drive and ability is an investment that pays dividends in a broad and far-reaching way.”

The Joseph V. Taranto Scholarship complements Everest’s broader philanthropic and talent initiatives, including global giving programs, employee volunteerism, and internal development efforts that support continuous learning and career growth across the organization.

Through these efforts, Everest continues to advance its mission to “underwrite opportunity” for colleagues, customers, shareholders, and communities worldwide.

About Everest

Everest Group, Ltd. (Everest) is a global underwriting leader providing best-in-class property, casualty, and specialty reinsurance and insurance solutions that address customers’ most pressing challenges. Known for a 50-year track record of disciplined underwriting, capital and risk management, Everest, through its global operating affiliates, is committed to underwriting opportunity for colleagues, customers, shareholders, and communities worldwide.

Everest common stock (NYSE: EG) is a component of the S&P 500 index.

Additional information about Everest, our people, and our products can be found on our website at www.everestglobal.com.

More News From Everest Group, Ltd.

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ORLANDO, Fla.--(BUSINESS WIRE)--Everest Group has recognized Simform as an Aspirant in the Software Product Engineering Services PEAK Matrix® Assessment 2026 - Global and EMEA.

"Everest Group's recognition reinforces our investment in scalable engineering - our PexAI framework helps organizations harness AI across the SDLC, driving faster innovation and long-term value." - Prayaag Kasundra, CEO of Simform

Share The recognition highlights Simform’s capabilities in helping organizations design, build, and scale modern digital products through product engineering expertise, cloud platforms, AI-driven engineering practices, and reusable accelerators.

As enterprises modernize digital platforms and embed AI across products and development workflows, they are seeking partners that accelerate innovation while maintaining quality, governance, and cost discipline. Simform’s inclusion reflects its role as a strategic engineering partner for enterprises, digital-native businesses, and ISVs building scalable products and platforms.

Changing Expectations for Software Product Engineering Partners

Software product engineering is entering a new phase as AI becomes embedded across both products and the software development lifecycle (SDLC).

Organizations are modernizing legacy platforms, adopting microservices architectures, and applying AI-assisted development practices to accelerate releases and improve code quality.

These shifts are driving demand for partners that combine product engineering depth, reusable accelerators, scalable delivery models, and commercial accountability.

Simform’s inclusion in Everest Group’s Software Product Engineering Services PEAK Matrix® reflects the company’s growing momentum in helping organizations modernize platforms, strengthen engineering productivity, and integrate AI-enabled capabilities across complex software ecosystems.

AI-Powered Engineering Practices Across the SDLC

To support this shift, Simform has developed an AI-native product engineering model combining cross-functional engineering pods, reusable accelerators, and AI-assisted development practices.

At the center of this model is PexAI, Simform’s flagship product engineering excellence framework. PexAI combines reusable blueprints, engineering objective frameworks, and modernization accelerators that help teams standardize architecture, streamline workflows, and scale delivery.

The framework supports modernization initiatives such as microservices architecture, cloud re-platforming, and UI transformation while enabling platform engineering through modular architectures, API-first design, AI/ML capabilities, Agentic AI-features, and data integration.

Simform applies AI across the SDLC through PexAI-driven workflows that automate tech-stack specific task/workflow based code generation, pull request reviews, infrastructure-as-code pipelines, and shift-left testing and security. This enables AI-native engineers to combine human expertise with governed AI-assisted workflows that improve productivity while maintaining reliability and compliance.

Supporting this model are proprietary accelerators such as NeuVantage, which helps teams analyze and modernize legacy applications faster, CodeTools, which enables GitHub Copilot templates, workflow agents, and automation patterns, and ThoughtMesh, which supports enterprise-grade Agentic AI use cases, including corrective RAG and agentic architectures.

Together, these frameworks help teams reduce routine development work, improve code quality, and focus on product strategy and architecture.

Moving from Capacity-Based Engineering to Outcome-Led Delivery

As software platforms become central to enterprise growth, organizations increasingly expect partners to align delivery with measurable outcomes rather than purely capacity-based engagement models.

Simform’s co-engineering approach supports this shift by embedding engineering teams within client product organizations and aligning delivery around platform modernization milestones, engineering productivity improvements, and product innovation goals. Simform is also evolving toward outcome-based commercial models where pricing is increasingly aligned with clearly defined roadmap milestones and product outcomes. For example, modernization engagements may be tied to measurable platform improvements such as successful microservices migration, release cycle acceleration, or performance gains, while product engineering programs may link commercial models to feature delivery velocity, platform stability, or engineering productivity improvements. This approach helps clients align engineering investment with tangible progress while maintaining transparency and accountability across long-running product initiatives.

“We believe software product engineering should ultimately be measured by outcomes in some ways and how effectively teams can modernize platforms, accelerate innovation, and deliver lasting business value,” said Prayaag Kasundra, CEO of Simform.

“Our PexAI framework and co-engineering delivery model help organizations harness AI across the software development lifecycle while aligning engineering execution with meaningful product and business outcomes. This recognition from Everest Group reinforces the investments we have made in building scalable engineering capabilities that enable faster innovation and long-term value for our clients.”

Transforming and Scaling Platforms with Intelligent Automation

The role of AI in platform engineering is undergoing a fundamental shift - moving from isolated automation scripts to intelligent, agentic workflows that reshape how software products are designed, built, and scaled. It is transforming the end-to-end software delivery lifecycle - from predictive resource optimization and automated security remediation to self-healing observability and CI/CD pipelines. Companies that can operationalize these capabilities at scale are pulling ahead.

"Our PexAI Framework and AI-native practices help ISVs, Digital Native, and forward-looking enterprises to modernize platforms, ship faster, improve software quality, and reduce technical debt. We have come up with Enablement offerings to enable platform and development teams with AI-native practices too," said Hiren Dhaduk, CTO of Simform.

Building AI-Native GCC and CoE

Having built excellent AI-Native engineering practices, Simform is helping software engineering teams of ISVs and enterprises adopt these advanced and mature Agentic SDLC practices to accelerate roadmaps. Simform is also partnering with customers to launch AI-Native GCC in India to double down on the value realization of engineering investments.

In addition to enabling these teams with AI-native practices, Simform helps define the operating model, governance approach, and engineering workflows needed to make GCCs and CoEs productive from the start. By combining co-engineering expertise with frameworks such as PexAI and AI-assisted SDLC practices, Simform helps organizations scale engineering capacity, improve software quality, and turn GCCs into long-term innovation engines rather than delivery-only units.

To learn more about what this shift in software product engineering means for enterprise customers, read the blog published alongside this announcement.

About Simform

Simform is a digital engineering company specializing in Cloud, Data, AI, and Experience Engineering. With deep expertise across Microsoft Azure, Simform helps high-growth ISVs and tech-enabled enterprises build scalable, future-ready digital products and platforms through its co-engineering delivery model. With a rich heritage in Microsoft technologies, Simform is recognized as a Solution Partner for Digital and App Innovation, Data & AI, Infrastructure and Security. Our team boasts 340+ Azure-certified infrastructure, cloud-native applications, data, AI and security engineers. With more than 15 years of experience, Simform delivers solutions for high-tech, fintech, healthcare & life sciences, supply chain & logistics, retail & ecommerce, and professional services industries.

Civorebrutinib is an investigational oral, covalent reversible BTK inhibitor designed to provide differentiated efficacy, safety and convenience in immune-mediated kidney diseases

Civorebrutinib adds pipeline-in-a-product potential across multiple rare kidney diseases, expanding and diversifying Travere’s pipeline

Company to host conference call June 2, 2026 at 8:30 a.m. ET

SAN DIEGO--(BUSINESS WIRE)--Travere Therapeutics, Inc., (Nasdaq: TVTX) today announced that it has entered into an exclusive licensing and collaboration agreement with Everest Medicines for the development and commercialization of civorebrutinib (also known as EVER001), a potential best-in-class oral, covalent reversible Bruton’s tyrosine kinase (BTK) inhibitor in all markets outside China and certain countries in East and Southeast Asia.

Civorebrutinib represents a strategic and complementary addition to our rare kidney disease portfolio, with the potential to become a best-in-class therapy across multiple immune-mediated rare kidney diseases.

Share “Civorebrutinib represents a strategic and complementary addition to our rare kidney disease portfolio, with the potential to become a best-in-class therapy across multiple immune-mediated rare kidney diseases,” said Eric Dube, Ph.D., president and chief executive officer of Travere Therapeutics. “Patients living with rare kidney diseases still face significant unmet need, and we believe the progress made to date in IgAN and FSGS is only the beginning of what is possible for these communities. Travere has helped to deliver important firsts in these diseases, and we believe our expertise, infrastructure and deep commitment to the rare kidney community position us well to continue advancing innovation for patients. With proof-of-concept data in primary membranous nephropathy, a differentiated profile as an oral, reversible BTK inhibitor, and expected broad mechanistic applicability across diseases such as immune-mediated FSGS, minimal change disease and beyond, we believe civorebrutinib has the potential to meaningfully advance the treatment paradigm for rare kidney disease patients.”

“This collaboration with Travere brings together deep expertise in kidney disease development and commercialization and we look forward to advancing civorebrutinib in primary membranous nephropathy, immune-mediated FSGS, and minimal change disease, delivering transformative therapies for patients with serious kidney diseases worldwide,” said Mr. Yifang Wu, Chairman of the Board of Everest Medicines. “As a differentiated, potential best-in-class therapy, civorebrutinib has demonstrated encouraging efficacy in primary membranous nephropathy. With its highly selective and reversible covalent mechanism of action, it is well positioned to advance in development across multiple immune-mediated kidney indications. Everest remains committed to our dual-engine strategy of business development partnerships and in-house R&D. This collaboration will accelerate the global development and potential commercialization of civorebrutinib, expanding its clinical and future commercial value in autoimmune kidney diseases and the ability to deliver more innovative treatment options to patients.”

Civorebrutinib is an investigational oral, covalent reversible BTK inhibitor designed to provide differentiated efficacy, safety and convenience for patients with rare, immune-mediated kidney diseases, including primary membranous nephropathy (PMN), with planned evaluation in focal segmental glomerulosclerosis (FSGS), minimal change disease (MCD) and potentially additional indications. BTK is a key mediator of B-cell receptor signaling and plays an important role in B-cell activation, maturation, proliferation, and differentiation into antibody-producing cells.

In immune-mediated kidney diseases, B-cell activation and autoantibody production are believed to contribute directly to kidney injury. Civorebrutinib has demonstrated proof of concept in a Phase 1/2 clinical trial of patients with PMN. The previously reported Phase 1/2 data demonstrated rapid and sustained reductions in anti-PLA2R autoantibodies and proteinuria, with high rates of immunologic and clinical remission and stable kidney function through 52 weeks of follow-up. Civorebrutinib has been generally well tolerated throughout the development program to date.

As innovation in rare kidney diseases continues to accelerate, patients still face significant unmet need and limited treatment options across many serious conditions. Civorebrutinib has the potential to serve as a pipeline-in-a-product across multiple immune-mediated kidney diseases. Travere plans to investigate civorebrutinib in PMN, immune-mediated FSGS and MCD, with the potential for additional indications. These diseases share immune-mediated mechanisms that can lead to glomerular damage, resulting in proteinuria and impaired kidney function that may ultimately require dialysis or transplant. Civorebrutinib may also broaden future treatment approaches in FSGS, where both nephroprotective and targeted immune control approaches may play important roles.

Under the terms of the agreement, Everest will receive an upfront payment of $112.5 million in exchange for granting Travere exclusive development and commercialization rights for civorebrutinib in all markets outside of China and certain countries in East and Southeast Asia. Everest is also eligible to receive up to approximately $1.03 billion in additional cash payments tied to specified clinical development, regulatory and commercial milestones across up to five indications. Travere will also pay tiered royalties on future sales in its licensed territories, ranging from high single-digit to double-digit percentages based on annual net sales thresholds. The license agreement will become effective upon satisfaction of customary conditions, including expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended.

Conference Call Information

Travere Therapeutics will host a conference call and webcast today, Tuesday, June 2, 2026, at 8:30 a.m. ET. To participate in the conference call, dial +1 (833) 461-5787 (U.S.) or +1 (585) 542-9983 (International), conference ID 574 733 925 shortly before 8:30 a.m. ET. The webcast can be accessed on the Investor page of Travere’s website at ir.travere.com/events-and-presentations. Following the live webcast, an archived version of the call will be available for 30 days on the Company’s website.

About Civorebrutinib

Civorebrutinib (also known as EVER001) is a next-generation covalent reversible Bruton's tyrosine kinase (BTK) inhibitor in development globally for the treatment of renal diseases. BTK is an essential component of the B-cell receptor signaling pathways that regulate the survival, activation, proliferation, and differentiation of B lymphocytes. Targeting BTK with small molecule inhibitors has been demonstrated to be an effective treatment option for B-cell autoimmune diseases.

About Travere Therapeutics

At Travere Therapeutics, we are in rare for life. We are a biopharmaceutical company that comes together every day to help patients, families and caregivers of all backgrounds as they navigate life with a rare disease. On this path, we know the need for treatment options is urgent – that is why our global team works with the rare disease community to identify, develop and deliver life-changing therapies. In pursuit of this mission, we continuously seek to understand the diverse perspectives of rare patients and to courageously forge new paths to make a difference in their lives and provide hope – today and tomorrow. For more information, visit travere.com.

About Everest Medicines

Everest Medicines is a biopharmaceutical company focused on discovering, developing, manufacturing and commercializing innovative pharmaceutical products that address critical unmet medical needs for patients in global markets. The management team of Everest Medicines has deep expertise and an extensive track record both in China and with leading global pharmaceutical companies.

The Company’s therapeutic areas of focus include CKM (cardiovascular, kidney, and metabolic), autoimmune, ophthalmology and critical care. Everest Medicines has developed a fully integrated commercialization platform that combines omnichannel commercial capabilities with end-to-end product lifecycle management. Leveraging its proprietary mRNA platform, the Company is advancing its existing pipeline, including mRNA in vivo CAR-T and mRNA cancer vaccines, while selectively expanding into additional high-value therapeutic areas with blockbuster potential, and accelerating its global expansion. For more information, please visit the Company’s website: www.everestmedicines.com.

Forward Looking Statements

This press release contains “forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995. Without limiting the foregoing, these statements are often identified by the words “on-track,” “positioned,” “look forward to,” “will,” “would,” “may,” “might,” “believes,” “anticipates,” “plans,” “expects,” “intends,” “potential,” or similar expressions. In addition, expressions of strategies, intentions or plans are also forward-looking statements. Such forward-looking statements include, but are not limited to, references to: statements regarding the Company's beliefs about the future potential of its pipeline and portfolio; statements regarding the Company's capabilities, competitive positioning, and strategic plans; statements and expectations regarding the potential of civorebrutinib to serve as a pipeline-in-a-product and to potentially become a best-in-class therapy across multiple immune-mediated kidney diseases, and its potential to provide differentiated efficacy, safety and convenience for the indications described herein; statements and expectations regarding the expected broad mechanistic applicability across diseases; statements and expectations regarding future treatment approaches and paradigms; statements and expectations regarding the clinical studies and data described herein; statements and expectations regarding potential future payments (including upfront, milestone and royalty payments) and, as applicable, the potential achievement and timing thereof; statements and expectations regarding the activities of the Company’s partners and collaborators; and statements related to the estimated sizes of patient populations. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change any of them, and could cause actual outcomes and results to differ materially from current expectations. No forward-looking statement can be guaranteed. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties related to the license agreement with Everest, including the ability of the parties to obtain required regulatory approvals and satisfy other applicable conditions, and the ability of the Company to successfully advance the product through clinical trials toward potential future regulatory approval. The Company also faces risks and uncertainties related to its business and finances in general, the success of its commercial products, risks and uncertainties associated with its preclinical and clinical stage pipeline, risks and uncertainties associated with the regulatory review and approval process, risks and uncertainties associated with enrollment of clinical trials for rare diseases, and risks that ongoing or planned clinical trials may not succeed or may be delayed for safety, regulatory or other reasons. Specifically, the Company faces risks associated with the commercial launch of FILSPARI in FSGS and the ongoing commercialization in IgAN, the timing and potential outcome of its and its partners’ clinical studies, market acceptance of its commercial products including efficacy, safety, price, reimbursement, and benefit over competing therapies, risks related to the challenges of manufacturing scale-up, risks associated with the successful development and execution of commercial strategies for such products, including FILSPARI, and risks and uncertainties related to the current administration, including but not limited to risks and uncertainties related to tariffs and the funding, staffing and prioritization of resources at government agencies including the FDA. The Company also faces the risk that it will be unable to raise additional funding that may be required to complete development of any or all of its product candidates, including as a result of macroeconomic conditions; risks relating to the Company’s dependence on contractors for clinical drug supply and commercial manufacturing; uncertainties relating to patent protection and exclusivity periods and intellectual property rights of third parties; risks associated with regulatory interactions; and risks and uncertainties relating to competitive products, including current and potential future generic competition with certain of the Company’s products, including potential ANDA filings or patent challenges, and technological changes that may limit demand for the Company’s products. The Company also faces additional risks associated with global and macroeconomic conditions, including health epidemics and pandemics, including risks related to potential disruptions to clinical trials, commercialization activity, supply chain, and manufacturing operations. You are cautioned not to place undue reliance on these forward-looking statements as there are important factors that could cause actual results to differ materially from those in forward-looking statements, many of which are beyond our control. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. Investors are referred to the full discussion of risks and uncertainties, including under the heading “Risk Factors”, as included in the Company’s most recent Form 10-K, Form 10-Q and other filings with the Securities and Exchange Commission.

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