Track market-moving stories before they get noisy

Investors interested in Retail-Wholesale stocks should always be looking to find the best-performing companies in the group. Alliance Laundry Holdings (ALH - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Retail-Wholesale peers, we might be able to answer that question.

Alliance Laundry Holdings is one of 186 companies in the Retail-Wholesale group. The Retail-Wholesale group currently sits at #15 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Alliance Laundry Holdings is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for ALH's full-year earnings has moved 8.9% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

According to our latest data, ALH has moved about 23.4% on a year-to-date basis. In comparison, Retail-Wholesale companies have returned an average of 6.5%. This means that Alliance Laundry Holdings is outperforming the sector as a whole this year.

Another stock in the Retail-Wholesale sector, Aramark (ARMK - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 37.7%.

The consensus estimate for Aramark's current year EPS has increased 0.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

To break things down more, Alliance Laundry Holdings belongs to the Retail - Home Furnishings industry, a group that includes 10 individual companies and currently sits at #206 in the Zacks Industry Rank. This group has lost an average of 11.4% so far this year, so ALH is performing better in this area.

In contrast, Aramark falls under the Retail - Restaurants industry. Currently, this industry has 37 stocks and is ranked #165. Since the beginning of the year, the industry has moved -0.8%.

Investors interested in the Retail-Wholesale sector may want to keep a close eye on Alliance Laundry Holdings and Aramark as they attempt to continue their solid performance.

PHILADELPHIA--(BUSINESS WIRE)--Aramark Collegiate Hospitality today announced a new long‑term partnership with Grand Canyon University (GCU) to provide campus dining, retail, catering, and athletics‑related hospitality programs. The partnership establishes a modern collegiate hospitality platform designed to scale with enrollment growth, enhance operational transparency, and deliver a more connected, engaging, and student‑centered campus experience.

“Grand Canyon University exemplifies the next generation of private higher education—ambitious, enrollment‑driven, and nationally visible,” said Barbara Flanagan, President and CEO of Aramark Collegiate Hospitality. “By combining customized programs with trusted performance reporting, advanced analytics, and engaged leadership, we are creating a platform for continuous improvement and long‑term value.”

The collaboration is structured to support GCU’s growing community and to reinforce the experiences that drive student engagement, retention, and institutional identity, from campus meals to major campus events and gameday moments.

Aramark’s approach involves customized campus programming rather than one‑size‑fits‑all solutions, blending proprietary concepts, national brands, and local and regional partners. Through advanced retail planning and continuous portfolio evaluation, the partnership is designed to introduce new flavors, formats, and spaces that foster connection, convenience, and community across campus.

Supporting the Campus Experience and Athletics

Recognizing the role of athletics in campus culture and national visibility, the partnership aligns hospitality operations with GCU Athletics priorities. Aramark will enhance arena concessions and gameday experiences and introduce athlete‑focused nutrition and dining programs. These efforts will elevate both competitive performance and fan engagement while reinforcing the University’s brand on a national stage. Game days, campus celebrations, and high visibility events will be supported by optimized throughput, upgraded technology, and hospitality environments that reflect the energy and identity of GCU.

“GCU consistently ranks among the nation’s top 25 Best College Campuses, and our 35 dining options play a major role in that,” said GCU President Brian Mueller. “Aramark has proven experience, a strong commitment to technology, student engagement and operational execution, and we are excited about what this partnership will bring to the GCU community.”

A Transparent, Performance Oriented Operating Model

Aramark will deliver customized real-time reporting that provides university leadership with clear insight into performance to support informed decision‑making as Grand Canyon University grows.

Through benchmarking and continuous evolution, the model ensures campus services remain aligned with GCU’s academic mission and student expectations. The hospitality program will emphasize workforce continuity, operational stability, and seamless service while supporting student employment and leadership development.

About Grand Canyon University: Grand Canyon University was founded in 1949 and is Arizona’s premier private Christian university. GCU is accredited by the Higher Learning Commission and offers 380 academic programs, emphases and certificates for both traditional undergraduate students and working professionals. The university’s curriculum emphasizes interaction with classmates, both in-person and online, and individual attention from instructors while fusing academic rigor with Christian values to help students find their purpose and become skilled, caring professionals. For more information, visit gcu.edu

About Aramark Collegiate Hospitality

Aramark Collegiate Hospitality—where futures are better served—has been a trusted dining partner to higher education institutions for over 50 years. Serving more than 275 colleges and universities nationwide, Aramark delivers customized dining and hospitality programs that reflect the unique culture and needs of each campus. Rooted in a deep commitment to service for people, partners, the community, and the planet, Aramark goes beyond meals by curating tailored experiences, supporting success, and cultivating communities. Connect with Collegiate Hospitality on LinkedIn.

Aramark (NYSE: ARMK) proudly serves the world’s leading educational institutions, Fortune 500 companies, world champion sports teams, prominent healthcare providers, iconic destinations and cultural attractions, and numerous municipalities in 16 countries around the world with food and facilities management. Because of our hospitality culture, our employees strive to do great things for each other, our partners, our communities, and the planet. Learn more at www.aramark.com and connect with us on LinkedIn, Facebook, X, and Instagram.

PHILADELPHIA--(BUSINESS WIRE)--At the Racing Capital of the World, Aramark Sports + Entertainment (Aramark; NYSE: ARMK) and the iconic Indianapolis Motor Speedway (IMS) are rolling out an expanded lineup of new food, beverage, and premium hospitality offerings for the 2026 Indianapolis 500.

Leading this year’s new offerings is the debut of the collectible Souvenir Oil Can Cup, expected to become one of race week’s signature fan keepsakes. Inspired by the Speedway’s racing heritage and designed exclusively for the Indianapolis 500 experience, the limited-edition 19-ounce collectible cup will be available throughout race weekend and will feature several signature beverages. Fans can purchase the Souvenir Oil Can Cup at Tower Terrace Bars, Pagoda Plaza Bar, Turn One Plaza Bar, and Bar Barn locations at Turns 1 and 2.

Fans 21+ with valid government-issued ID can choose from a menu of specialty alcoholic beverages to be served in the Souvenir Oil Can Cup including:

Vodka Cucumber Coolant Mule: Big Machine Vodka mule with cucumber Boosted Blueberry Lemonade: Big Machine Vodka lemonade with blueberry Signature Margarita: Desnuda Tequila, triple sec, lime juice Paloma: Desnuda Tequila, grapefruit soda, lime juice To bring variety and excitement to race month, Aramark’s signature “Items of the Day” program at Refreshments Express in Pagoda Plaza will feature a rotating lineup of specialty offerings available on select dates throughout May. Designed to give fans something new to discover with each visit, the program blends race-day classics with elevated menu items that reflect the energy of the Speedway and continue to set the pace for race week hospitality.

Refreshments Express “Items of the Day”

Carnitas Street Corn Bowl (May 13 & May 17): Slow-roasted carnitas served over seasoned rice with fresh pico de gallo and a creamy chipotle mayo drizzle for a bold, flavor-packed bowl Cheesesteak Irish Nachos (May 14 & May 18): Crispy potato chips topped with shaved beef, sautéed peppers and onions, and cheddar cheese sauce for a twist on a classic Cuban Sandwich (May 15 & May 23): Slow-roasted pork, ham, Swiss cheese, pickles, and mustard served on a fresh roll Mozzarella Chicken Sandwich (May 16): Crispy chicken topped with a golden fried mozzarella cheese stick and rich marinara sauce served on a fresh bun Hot Pork Tenderloin Sliders (May 22): Breaded fried pork tenderloin sliders topped with giardiniera and zesty pickle ranch sauce, celebrating an Indiana favorite Tater Kegs (May 24): Extra-large crispy tater tots loaded with smoky bacon and melted cheddar cheese New Food & Beverage Highlights

Pit Stop Dog: All-beef Oscar Mayer hot dog topped with Hoosier chili and cheese Slaw Dog: 2025 Wienie 500 Winner featuring an all-beef Oscar Mayer hot dog topped with chili sauce and vinegar-based coleslaw Borchetta Small Batch Bourbon & Coca‑Cola Slushies Premium Suite Enhancements
Aramark has expanded its premium suite experiences for 2026 with customizable hospitality packages designed to enhance the race-day experience throughout the month of May. The Turn 1 Build Your Own Suite Package features a variety of options that suite guests can select including salads, breads, smoked gouda mac & cheese, Korean BBQ meatballs, and more. For something sweet, race fans can enjoy a Dessert Charcuterie Board, featuring cheesecake shooters, mini cookies, chocolate pretzels, macarons, and more.

“As we continue our partnership with Indianapolis Motor Speedway, Aramark Sports + Entertainment is proud to continue evolving the fan experience through elevated hospitality, innovative culinary offerings and immersive race-day traditions that celebrate the spirit of the Indianapolis 500,” said Alison Birdwell, President and CEO, Aramark Sports + Entertainment. “From the debut of the Souvenir Oil Can Cup and expanded favorites, this year’s offerings were designed to deliver more variety, excitement, and memorable moments throughout the month of May.”

About Aramark Sports + Entertainment
Aramark Sports + Entertainment serves more than 150 award-winning food and beverage and retail programs in premier professional and collegiate stadiums and arenas along with convention centers, cultural attractions, performance venues, and unique entertainment destinations across North America. The company has received accolades for industry innovations including autonomous markets and dining concepts powered by artificial intelligence and has provided hospitality services at high-profile sporting events like the MLB World Series, MLB at Rickwood Field, NBA All-Star, and Indianapolis 500. Visit Aramark Sports + Entertainment's website to learn more or connect on LinkedIn and X.

Aramark Healthcare+ Recognized by Modern Healthcare as One of the “Best Places to Work™ in Healthcare” for Third Consecutive Year Aramark Healthcare+ has been named to Modern Healthcare’s “Best Places to Work™ in Healthcare” list for 2026, marking the third consecutive year the organization has earned the recognition. Final rankings will be announced later this year.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260520433589/en/

“The strongest driver of our culture is how leaders show up for their teams every day,” said PJ Johnson, Aramark Healthcare+ President and CEO. “When people have clear expectations, access to development, and leaders who listen, it creates an environment where careers can grow and employees choose to stay. That consistency leads to hospitality excellence and is reflected in the experience our teammates share and ultimately, in this recognition by Modern Healthcare.”

With more than 25,000 managed and direct teammates supporting over 600 healthcare facilities across 47 states, Aramark Healthcare+’s people-first approach extends directly into career development. Growth is embedded across all levels of the organization, particularly for frontline employees and operators who are critical to patient and client experiences. Clear pathways for advancement, accessible training and certifications, and active coaching from leaders help teammates build skills and advance their careers.

Employees are encouraged to explore opportunities across roles, sites, and lines of business, which reinforces a culture where careers are built through mobility, exposure, and continuous development rather than a single linear path.

Recent examples highlight how this focus takes shape across the organization.

Frontline Environmental Services teams at a Healthcare account in North Carolina earned national recognition through participation in the annual Housekeeping Olympics, showcasing technical expertise and team development on a national stage. Culinary professionals benefit from enterprise-wide programs such as the Aramark Culinary Excellence (ACE) competition, which provides structured opportunities to refine skills, gain visibility, and advance alongside peers. At an account in Georgia, Aramark Healthcare partnered with hospital leadership to implement a jointly developed training and leadership framework for Environmental Services (EVS) employees. The program at this account aligns advancement opportunities with nationally recognized certifications through the Association for the Health Care Environment and has contributed to a 20-point increase in Hospital Consumer Assessment of Healthcare Providers and Systems (HCAHPS) cleanliness percentile scores, while also supporting strong employee retention. “Employees don’t just hear about values at Aramark Healthcare+—they experience them every single day. Whether it is through accessible leadership, recognition programs, or a strong emphasis on inclusion and belonging, employees feel seen and valued at every level,” Johnson added.

About Aramark

Aramark (NYSE: ARMK) proudly serves the world’s leading educational institutions, Fortune 500 companies, world champion sports teams, prominent healthcare providers, iconic destinations and cultural attractions, and numerous municipalities in 16 countries around the world with food and facilities management. Because of our hospitality culture, our employees strive to do great things for each other, our partners, our communities, and the planet. Learn more at www.aramark.com and connect with us on LinkedIn, Facebook, and Instagram.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260520433589/en/

Investors seek growth stocks to capitalize on above-average growth in financials that help these securities grab the market's attention and produce exceptional returns. But finding a growth stock that can live up to its true potential can be a tough task.

That's because, these stocks usually carry above-average risk and volatility. In fact, betting on a stock for which the growth story is actually over or nearing its end could lead to significant loss.

However, the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects, makes it pretty easy to find cutting-edge growth stocks.

Our proprietary system currently recommends Aramark (ARMK - Free Report) as one such stock. This company not only has a favorable Growth Score, but also carries a top Zacks Rank.

Research shows that stocks carrying the best growth features consistently beat the market. And returns are even better for stocks that possess the combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy).

While there are numerous reasons why the stock of this provider of food, facilities and uniform services is a great growth pick right now, we have highlighted three of the most important factors below:

Earnings GrowthEarnings growth is arguably the most important factor, as stocks exhibiting exceptionally surging profit levels tend to attract the attention of most investors. And for growth investors, double-digit earnings growth is definitely preferable, and often an indication of strong prospects (and stock price gains) for the company under consideration.

While the historical EPS growth rate for Aramark is 33.3%, investors should actually focus on the projected growth. The company's EPS is expected to grow 18.8% this year, crushing the industry average, which calls for EPS growth of 6.1%.

Impressive Asset Utilization RatioGrowth investors often overlook asset utilization ratio, also known as sales-to-total-assets (S/TA) ratio, but it is an important feature of a real growth stock. This metric exhibits how efficiently a firm is utilizing its assets to generate sales.

Right now, Aramark has an S/TA ratio of 1.44, which means that the company gets $1.44 in sales for each dollar in assets. Comparing this to the industry average of 0.99, it can be said that the company is more efficient.

While the level of efficiency in generating sales matters a lot, so does the sales growth of a company. And Aramark looks attractive from a sales growth perspective as well. The company's sales are expected to grow 7.9% this year versus the industry average of 2.9%.

Promising Earnings Estimate RevisionsSuperiority of a stock in terms of the metrics outlined above can be further validated by looking at the trend in earnings estimate revisions. A positive trend is of course favorable here. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

The current-year earnings estimates for Aramark have been revising upward. The Zacks Consensus Estimate for the current year has surged 1.3% over the past month.

Bottom LineWhile the overall earnings estimate revisions have made Aramark a Zacks Rank #2 stock, it has earned itself a Growth Score of A based on a number of factors, including the ones discussed above.

You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

This combination positions Aramark well for outperformance, so growth investors may want to bet on it.

Investors might want to bet on Aramark (ARMK - Free Report) , as it has been recently upgraded to a Zacks Rank #2 (Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.

The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.

Since a changing earnings picture is a powerful factor influencing near-term stock price movements, the Zacks rating system is very useful for individual investors. They may find it difficult to make decisions based on rating upgrades by Wall Street analysts, as these are mostly driven by subjective factors that are hard to see and measure in real time.

As such, the Zacks rating upgrade for Aramark is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price.

Most Powerful Force Impacting Stock PricesThe change in a company's future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. That's partly because of the influence of institutional investors that use earnings and earnings estimates for calculating the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their bulk investment action then leads to price movement for the stock.

For Aramark, rising earnings estimates and the consequent rating upgrade fundamentally mean an improvement in the company's underlying business. And investors' appreciation of this improving business trend should push the stock higher.

Harnessing the Power of Earnings Estimate RevisionsAs empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.

The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>> .

Earnings Estimate Revisions for AramarkFor the fiscal year ending September 2026, this provider of food, facilities and uniform services is expected to earn $2.25 per share, which is unchanged compared with the year-ago reported number.

Analysts have been steadily raising their estimates for Aramark. Over the past three months, the Zacks Consensus Estimate for the company has increased 1.3%.

Bottom LineUnlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of "buy" and "sell" ratings for its entire universe of more than 4,000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a "Strong Buy" rating and the next 15% get a "Buy" rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.

You can learn more about the Zacks Rank here >>>

The upgrade of Aramark to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.

Aramark NYSE:ARMK , a global leader in food and facilities management, announced that members of its executive management team are participating in the following upcoming investor conferences:

Stifel Cross Sector Conference – On Tuesday, June 2, 2026, Marc Bruno, Chief Operating Officer, U.S., will host a series of meetings with investors. Baird Global Consumer, Technology & Services Conference – On Thursday, June 4, 2026, Autumn Bayles, Executive Vice President, Global Supply Chain & Group Purchasing Organizations, will participate in a fireside chat beginning at 10:15 a.m. ET and will host a series of meetings with investors. A live webcast and replay of the fireside chat session will be available on the Aramark Investor Relations website.

About Aramark
Aramark (NYSE: ARMK) proudly serves the world’s leading educational institutions, Fortune 500 companies, world champion sports teams, prominent healthcare providers, iconic destinations and cultural attractions, and numerous municipalities in 16 countries around the world with food and facilities management. Because of our hospitality culture, our employees strive to do great things for each other, our partners, our communities, and the planet. Learn more at www.aramark.com and connect with us on LinkedIn, Facebook, X, and Instagram.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260528682603/en/

Texas State University Selects Aramark as Its New Comprehensive Collegiate Hospitality Partner Texas State University (TXST) has selected Aramark Collegiate Hospitality as its new comprehensive hospitality partner, beginning June 1, 2026. The new contract unifies dining, athletics, vending, and campus life through Texas State Hospitality, a campus ecosystem Aramark is creating in partnership with TXST.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260601348322/en/

Texas State University (TXST) has selected Aramark Collegiate Hospitality as its new comprehensive hospitality partner, beginning June 1, 2026. The new contract unifies dining, athletics, vending, and campus life through Texas State Hospitality, a campus ecosystem Aramark is creating in partnership with TXST.

“Texas State is committed to providing an exceptional campus experience for everyone who learns, works, and gathers here,” said Cynthia L. Hernandez, vice president for Student Success at TXST. “This partnership helps create a dining and hospitality ecosystem that strengthens community, supports student success, and reflects the quality and pride of the Texas State experience.”

As TXST grows enrollment, expands its academic and physical footprint across the San Marcos and Round Rock campuses, prepares to compete on a national stage as a member of the Pac‑12 Conference, and advances its journey toward Carnegie R1 research status, the partnership positions hospitality as a strategic driver of student success, campus cohesion, and institutional sustainability.

“Texas State is a university on the rise, and we are proud to have this opportunity, which now represents our largest university partnership in Texas,” said Barbara Flanagan, President and CEO of Aramark Collegiate Hospitality. “Hospitality is the connective tissue of campus life; by working side by side with Texas State, we will deliver a cohesive experience that strengthens community, elevates gameday energy, and supports the University’s continued momentum as it advances its academic, research, and national aspirations.”

The new contract integrates residential and retail dining, catering, concessions, and vending into a unified hospitality model. Texas State Hospitality will support the daily rhythm, belonging, well‑being, and academic ambition for nearly 45,000 students across both campuses.

Building a Connected Student-Centered Campus Ecosystem

The partnership prioritizes a modernized dining experience. Dining environments will emphasize accessibility, varied menu options, technology-enabled convenience, and consistent service for students, faculty, and staff.

Initial program enhancements and planned changes include:

Reimagined residential dining halls at Commons, Harris, and the new Hilltop facility, each with a distinct culinary identity aligned to student preferences and campus culture. Expanded retail dining options across campus, featuring a mix of national brands, on-trend concepts, and rotating local and regional partners that reflect the flavors and traditions of Texas. Enhanced athletic fueling programs, including training tables, fueling stations, and performance-focused nutrition offerings designed to support student athlete success. Elevated gameday hospitality and fan experiences at UFCU Stadium and athletic venues, enhancing food, beverage, and service offerings to meet the energy, scale, and expectations of Pac‑12 competition. Improved access for students living off-campus with mobile ordering, extended hours, grab‑and‑go formats, and locations along high-traffic campus pathways. Updated dining technology, including digital menu boards, mobile ordering, and unified point‑of‑sale systems to reduce wait times and improve service consistency. Expanded food security initiatives, including meal access programs and campus partnerships that increase flexibility while reducing stigma for students facing food insecurity. The hospitality program will continuously evolve through student feedback, performance insights, and campus collaboration—ensuring alignment with the needs of a dynamic university community and supporting Texas State’s continued academic and research growth.

About Texas State University

Founded in 1899, Texas State University is among the largest universities in Texas with an enrollment of more than 44,000 students on campuses in San Marcos and Round Rock. Texas State’s 247,000-plus alumni are a powerful force in serving the economic workforce needs of Texas and throughout the world.

About Aramark

Aramark (NYSE: ARMK) proudly serves the world’s leading educational institutions, Fortune 500 companies, world champion sports teams, prominent healthcare providers, iconic destinations and cultural attractions, and numerous municipalities in 16 countries around the world with food and facilities management. Because of our hospitality culture, our employees strive to do great things for each other, our partners, our communities, and the planet. Learn more at www.aramark.com and connect with us on LinkedIn, Facebook, and Instagram.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260601348322/en/

Growth investors focus on stocks that are seeing above-average financial growth, as this feature helps these securities garner the market's attention and deliver solid returns. However, it isn't easy to find a great growth stock.

By their very nature, these stocks carry above-average risk and volatility. Moreover, if a company's growth story is over or nearing its end, betting on it could lead to significant loss.

However, it's pretty easy to find cutting-edge growth stocks with the help of the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects.

Aramark (ARMK - Free Report) is on the list of such stocks currently recommended by our proprietary system. In addition to a favorable Growth Score, it carries a top Zacks Rank.

Studies have shown that stocks with the best growth features consistently outperform the market. And for stocks that have a combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy), returns are even better.

While there are numerous reasons why the stock of this provider of food, facilities and uniform services is a great growth pick right now, we have highlighted three of the most important factors below:

Earnings GrowthEarnings growth is arguably the most important factor, as stocks exhibiting exceptionally surging profit levels tend to attract the attention of most investors. And for growth investors, double-digit earnings growth is definitely preferable, and often an indication of strong prospects (and stock price gains) for the company under consideration.

While the historical EPS growth rate for Aramark is 33.3%, investors should actually focus on the projected growth. The company's EPS is expected to grow 18.8% this year, crushing the industry average, which calls for EPS growth of 6%.

Impressive Asset Utilization RatioGrowth investors often overlook asset utilization ratio, also known as sales-to-total-assets (S/TA) ratio, but it is an important feature of a real growth stock. This metric exhibits how efficiently a firm is utilizing its assets to generate sales.

Right now, Aramark has an S/TA ratio of 1.44, which means that the company gets $1.44 in sales for each dollar in assets. Comparing this to the industry average of 0.99, it can be said that the company is more efficient.

While the level of efficiency in generating sales matters a lot, so does the sales growth of a company. And Aramark looks attractive from a sales growth perspective as well. The company's sales are expected to grow 7.9% this year versus the industry average of 2.8%.

Promising Earnings Estimate RevisionsSuperiority of a stock in terms of the metrics outlined above can be further validated by looking at the trend in earnings estimate revisions. A positive trend is of course favorable here. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

There have been upward revisions in current-year earnings estimates for Aramark. The Zacks Consensus Estimate for the current year has surged 1.3% over the past month.

Bottom LineAramark has not only earned a Growth Score of A based on a number of factors, including the ones discussed above, but it also carries a Zacks Rank #2 because of the positive earnings estimate revisions.

You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

This combination indicates that Aramark is a potential outperformer and a solid choice for growth investors.

Analysts on Wall Street project that The Hartford Insurance Group (HIG - Free Report) will announce quarterly earnings of $3.29 per share in its forthcoming report, representing an increase of 49.6% year over year. Revenues are projected to reach $5.2 billion, increasing 9.3% from the same quarter last year.

Over the last 30 days, there has been an upward revision of 0.3% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.

Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.

While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.

Bearing this in mind, let's now explore the average estimates of specific The Hartford Insurance Group metrics that are commonly monitored and projected by Wall Street analysts.

According to the collective judgment of analysts, 'Revenue- Property & Casualty- Net investment income' should come in at $589.73 million. The estimate points to a change of +15.2% from the year-ago quarter.

Based on the collective assessment of analysts, 'Revenue- Net premiums earned' should arrive at $6.19 billion. The estimate indicates a change of +6.2% from the prior-year quarter.

Analysts' assessment points toward 'Revenue- Property & Casualty- Earned Premium' reaching $4.56 billion. The estimate indicates a change of +8% from the prior-year quarter.

Analysts predict that the 'Revenue- Hartford Funds - Total' will reach $293.38 million. The estimate indicates a year-over-year change of +11.1%.

The combined assessment of analysts suggests that 'Revenue- Property & Casualty Other Operations- Net investment income' will likely reach $19.40 million. The estimate suggests a change of +7.8% year over year.

The collective assessment of analysts points to an estimated 'Revenue- Fee income- Corporate' of $10.25 million. The estimate points to a change of -6.8% from the year-ago quarter.

Analysts forecast 'Revenue- Corporate - Total' to reach $26.98 million. The estimate indicates a year-over-year change of +285.4%.

The average prediction of analysts places 'Revenue- Net investment income- Corporate' at $16.11 million. The estimate suggests a change of +15% year over year.

Analysts expect 'Revenue- Fee income' to come in at $378.14 million. The estimate points to a change of +9.3% from the year-ago quarter.

The consensus among analysts is that 'Revenue- Property & Casualty Other Operations - Total' will reach $19.00 million. The estimate suggests a change of +5.6% year over year.

The consensus estimate for 'Policies in-force - Homeowners' stands at 721.00 billion. Compared to the present estimate, the company reported 719.00 billion in the same quarter last year.

It is projected by analysts that the 'Policies in-force - Automobile' will reach 1067.00 billion. Compared to the present estimate, the company reported 1146.00 billion in the same quarter last year.

View all Key Company Metrics for The Hartford Insurance Group here>>>

Shares of The Hartford Insurance Group have experienced a change of +5.4% in the past month compared to the +6.4% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), HIG is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

Posted by Defense World Staff on Apr 21st, 2026

Earned Wealth Advisors LLC bought a new position in The Hartford Insurance Group, Inc. (NYSE:HIG – Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 4,836 shares of the insurance provider’s stock, valued at approximately $666,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. JPL Wealth Management LLC acquired a new stake in shares of The Hartford Insurance Group in the third quarter valued at approximately $26,000. Cornerstone Planning Group LLC boosted its stake in The Hartford Insurance Group by 707.7% during the third quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock worth $26,000 after buying an additional 184 shares during the last quarter. Sunbelt Securities Inc. purchased a new stake in The Hartford Insurance Group in the 3rd quarter valued at $29,000. United Financial Planning Group LLC purchased a new stake in The Hartford Insurance Group in the 3rd quarter valued at $29,000. Finally, Barnes Dennig Private Wealth Management LLC increased its stake in shares of The Hartford Insurance Group by 144.8% in the 4th quarter. Barnes Dennig Private Wealth Management LLC now owns 257 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 152 shares during the last quarter. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at The Hartford Insurance Group In related news, EVP Lori A. Rodden sold 40,693 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $138.05, for a total value of $5,617,668.65. Following the sale, the executive vice president owned 25,392 shares of the company’s stock, valued at $3,505,365.60. This trade represents a 61.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher Swift sold 201,938 shares of The Hartford Insurance Group stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $136.41, for a total transaction of $27,546,362.58. Following the completion of the transaction, the chief executive officer owned 194,817 shares of the company’s stock, valued at $26,574,986.97. This represents a 50.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 349,282 shares of company stock valued at $48,184,324. Corporate insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets HIG has been the topic of several recent research reports. Cantor Fitzgerald lowered their price target on shares of The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Piper Sandler boosted their price target on shares of The Hartford Insurance Group from $152.00 to $161.00 and gave the company an “overweight” rating in a research note on Monday, December 22nd. Barclays dropped their price objective on The Hartford Insurance Group from $162.00 to $159.00 and set an “overweight” rating for the company in a research note on Wednesday, April 8th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $149.00 price objective (down from $163.00) on shares of The Hartford Insurance Group in a report on Monday, March 30th. Finally, Roth Mkm increased their target price on The Hartford Insurance Group from $120.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday, January 30th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $149.56.

Read Our Latest Analysis on HIG

The Hartford Insurance Group Stock Down 0.7% The Hartford Insurance Group stock opened at $138.89 on Tuesday. The firm has a market capitalization of $38.31 billion, a P/E ratio of 10.41, a P/E/G ratio of 1.30 and a beta of 0.53. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.23. The Hartford Insurance Group, Inc. has a twelve month low of $113.27 and a twelve month high of $144.50. The stock’s fifty day simple moving average is $137.96 and its 200-day simple moving average is $134.63.

The Hartford Insurance Group (NYSE:HIG – Get Free Report) last released its earnings results on Thursday, January 29th. The insurance provider reported $4.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.22 by $0.84. The Hartford Insurance Group had a return on equity of 21.92% and a net margin of 13.52%.The firm had revenue of $7.31 billion during the quarter, compared to analyst estimates of $7.29 billion. During the same period last year, the business posted $2.94 earnings per share. The Hartford Insurance Group’s revenue was up 6.7% compared to the same quarter last year. As a group, equities analysts expect that The Hartford Insurance Group, Inc. will post 13.35 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 2nd. Stockholders of record on Monday, March 2nd were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Monday, March 2nd. The Hartford Insurance Group’s dividend payout ratio (DPR) is presently 17.99%.

The Hartford Insurance Group Profile (Free Report)

The Hartford Financial Services Group, commonly known as The Hartford, is a U.S.-based insurance and investment company that provides a broad range of commercial and personal insurance products and employee benefits. Its core businesses include property and casualty insurance for businesses and individuals, group benefits such as group life, disability and dental plans, and retirement and investment solutions offered through affiliated asset-management operations. The company also delivers risk management, claims-handling and loss-prevention services designed to support policyholders across a variety of industries.

Founded in Hartford, Connecticut, in 1810, The Hartford is one of the oldest insurance organizations in the United States and has a long history of underwriting and product development across multiple insurance lines.

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HARTFORD, Conn.--(BUSINESS WIRE)--The Hartford (NYSE: HIG) today announced financial results for the first quarter ended March 31, 2026.

“The Hartford’s first quarter 2026 results were strong with core earnings of $866 million, building on continued momentum from the past few years,” said The Hartford’s Chairman and CEO Christopher Swift. “Our underwriting discipline, breadth and depth of distribution relationships, and customer-centric focus position us well to navigate a dynamic environment. Our ongoing investments in innovation and technology continue to strengthen our business processes and further differentiate The Hartford in the marketplace.”

The Hartford's Chief Financial Officer Beth Costello said, “Business Insurance delivered another strong quarter, with 6 percent written premium growth and an underlying combined ratio of 89.2. In Personal Insurance, the underlying combined ratio improved 4.7 points, while growth was impacted by a competitive market. Employee Benefits generated a core earnings margin of 6.9 percent, with outstanding life and strong disability performance and excellent new business sales growth. Investment income remained strong, supported by our diversified portfolio and attractive new money yields."

Swift continued, “The Hartford is a proven and consistent performer delivering a trailing 12 month core earnings ROE of 20.3 percent. Quarter after quarter, our results demonstrate how our strategy translates into durable financial performance. Looking forward, our foundation is strong and our strategy is clear, reflecting who we are at the core—an underwriting company that consistently delivers with discipline and innovates with purpose."

CONSOLIDATED RESULTS:

Three Months Ended

($ in millions except per share data)

Mar 31 2026

Mar 31 2025

Change

Net income available to common stockholders

$851

$625

36%

Net income available to common stockholders per diluted share1

$3.04

$2.15

41%

Core earnings

$866

$639

36%

Core earnings per diluted share

$3.09

$2.20

40%

Book value per diluted share

$66.58

$57.07

17%

Book value per diluted share (ex. accumulated other comprehensive income (AOCI))2

$75.25

$65.99

14%

Net income available to common stockholders' return on equity (ROE)3, last 12-months

23.0%

18.8%

4.2

Core earnings ROE3, last 12-months

20.3%

16.2%

4.1

First quarter 2026 net income available to common stockholders of $851 million, or $3.04 per diluted share, improved from $625 million in first quarter 2025, primarily driven by lower P&C CAY CATs, higher net investment income, earned premium growth, improvement in the group life loss ratio, and a lower Personal Insurance underlying loss and loss adjustment expense ratio*, partially offset by higher expense ratios in both Employee Benefits and P&C, less favorable PYD, and a higher group disability loss ratio.

First quarter 2026 core earnings of $866 million, or $3.09 per diluted share, compared with $639 million of core earnings in first quarter 2025. Contributing to the results were:

An increase in earnings driven by 6% growth in P&C earned premium. Business Insurance loss and loss adjustment expense ratio of 62.8 was flat compared with first quarter 2025, including 3.6 points of lower CATs, partially offset by a 3.3 point change from favorable to unfavorable PYD. Underlying loss and loss adjustment expense ratio of 57.2 compared with 56.9 in first quarter 2025. Personal Insurance loss and loss adjustment expense ratio of 60.6 compared with 79.1 in first quarter 2025, including 14.3 points of lower CATs, partially offset by 0.4 points of less favorable PYD. Underlying loss and loss adjustment expense ratio of 58.0 improved 4.6 points from first quarter 2025, due to a lower loss ratio in both automobile and homeowners. Net favorable PYD in core earnings of $5 million, before tax, in 2026 compared with net favorable PYD of $90 million in core earnings in 2025. Net favorable PYD included in core earnings in first quarter 2026 was primarily driven by reserve reductions in workers’ compensation, homeowners, and personal automobile, partially offset by an increase of $70 million in general liability reserves to reflect legacy sexual molestation and sexual abuse exposures related to policies written in the 1970s and 1980s, which includes a provision for a settlement in principle in one bankruptcy proceeding involving a religious institution. P&C CAY CAT losses of $230 million, before tax, in first quarter 2026, primarily from winter storms across several regions, but concentrated in the Northeast region, and losses from tornado, wind and hail events across several regions, compared with CAY CAT losses of $467 million in first quarter 2025, primarily driven by the January 2025 California Wildfire Event. The P&C expense ratio of 30.7 compared with 30.4 in first quarter 2025. Employee Benefits loss ratio of 71.7 compared with 71.9 in first quarter 2025, driven by improvement in the group life loss ratio, partially offset by an increase in the group disability loss ratio. The Employee Benefits expense ratio of 26.7 compared with 25.4 in first quarter 2025, driven by higher staffing costs and higher technology costs. Net investment income of $739 million, before tax, compared with $656 million in first quarter 2025, primarily driven by increased income from limited partnerships and other alternative investments (LPs), a higher level of invested assets, and reinvesting at higher rates.  March 31, 2026 book value per diluted share of $66.58 increased 0.4%, from $66.31 at Dec. 31, 2025, principally due to net income in excess of stockholder dividends through March 31, 2026, partially offset by a decrease in AOCI, primarily driven by an increase in net unrealized losses on available-for-sale (AFS) securities, and the dilutive effect of share repurchases.

Book value per diluted share (excluding AOCI) of $75.25 as of March 31, 2026, increased 2.2%, from $73.62 at Dec. 31, 2025, as the impact from net income in excess of stockholder dividends through March 31, 2026, was partially offset by the dilutive effect of share repurchases.

Net income available to common stockholders' ROE (net income ROE) for the trailing 12-month period ending March 31, 2026, was 23.0%, increasing 4.2 points from March 31, 2025, primarily due to an increase in net income available to common stockholders.

Core earnings ROE for the trailing 12-month period ending March 31, 2026, was 20.3%, increasing 4.1 points from March 31, 2025, primarily due to an increase in core earnings.

BUSINESS RESULTS:
Business Insurance

Three Months Ended

($ in millions, unless otherwise noted)

Mar 31 2026

Mar 31 2025

Change

Net income

$536

$477

12%

Core earnings

$551

$471

17%

Written premiums

$3,904

$3,686

6%

Underwriting gain1

$185

$187

(1%)

Underlying underwriting gain1

$386

$384

1%

Losses and loss adjustment expense ratio

62.8

62.8

—

Expenses

31.6

31.3

0.3

Policyholder dividends

0.3

0.3

—

Combined ratio

94.8

94.4

0.4

Impact of catastrophes and PYD on combined ratio

(5.6)

(5.9)

0.3

Underlying combined ratio

89.2

88.4

0.8

Losses and loss adjustment expense ratio

Underlying loss and loss adjustment expense ratio

57.2

56.9

0.3

Current accident year catastrophes

4.8

8.4

(3.6)

Prior accident year development

0.8

(2.5)

3.3

Total Losses and loss adjustment expense ratio

62.8

62.8

—

First quarter 2026 net income of $536 million compared with net income of $477 million in first quarter 2025, primarily due to lower CAY CATs, higher net investment income, and the impact of earned premium growth, partially offset by a change from net favorable PYD to net unfavorable PYD and a higher expense ratio. PYD in the 2025 period includes a $32 million, before-tax, benefit due to the amortization of the deferred gain related to the Navigators ADC.

Business Insurance core earnings of $551 million in first quarter 2026 compared with $471 million in first quarter 2025. Contributing to the results were:

7% growth in earned premium. An underlying loss and loss adjustment expense ratio of 57.2 in first quarter 2026 compared with 56.9 in first quarter 2025. Net unfavorable PYD within core earnings of $30 million, before tax, in first quarter 2026, compared with $51 million of net favorable PYD within core earnings in first quarter 2025. The net unfavorable PYD in first quarter 2026 primarily includes an increase of $70 million in general liability reserves to reflect legacy sexual molestation and sexual abuse exposures related to policies written in the 1970s and 1980s, which includes a provision for a settlement in principle in one bankruptcy proceeding involving a religious institution. CAY CAT losses of $171 million, before tax, in first quarter 2026, primarily from winter storms across several regions, but concentrated in the Northeast, and losses from tornado, wind and hail events across several regions, compared with CAY CAT losses of $280 million in first quarter 2025. Net investment income of $505 million, before tax, compared with $437 million in first quarter 2025. Combined ratio of 94.8 compared with 94.4 in first quarter 2025, primarily due to a 3.3 point change from favorable to unfavorable PYD, partially offset by 3.6 points of lower CATs. Underlying combined ratio of 89.2 compared with 88.4 in first quarter 2025, primarily due to a slight increase in the underlying loss and loss adjustment expense ratio and expense ratio.

Small Business combined ratio of 91.9 compared with 93.3 in first quarter 2025, including 1.5 points of lower CATs, partially offset by 0.1 points of less favorable PYD. Underlying combined ratio of 89.4 was flat compared with first quarter 2025. Middle & Large Business combined ratio of 95.6 compared with 99.8 in first quarter 2025, including 5.2 points of lower CAY CATs, partially offset by 0.4 points of more unfavorable PYD. Underlying combined ratio of 91.3 compared with 90.6 in first quarter 2025, primarily due to a higher loss ratio in workers' compensation. Global Specialty combined ratio of 90.7 compared with 89.3 in first quarter 2025, including 5.3 points of lower CATs, partially offset by a 4.6 point change from favorable to unfavorable PYD. The 2025 combined ratio included 3.4 points of more favorable PYD due to the amortization of the deferred gain related to the Navigators ADC. Underlying combined ratio of 86.1 compared with 84.0 in first quarter 2025, primarily due to a higher expense ratio and the impact of higher reinstatement premiums in Global Re in the 2025 period. The expense ratio of 31.6 was generally consistent with the first quarter of 2025, as higher staffing costs and investments in the business were partially offset by earned premium growth. First quarter 2026 written premiums of $3.9 billion were up 6% from first quarter 2025, with growth across the segment. Small Business delivered an 8% increase in written premiums, supported by double-digit new business growth, while Middle & Large and Global Specialty each reported single-digit written premium growth.

Personal Insurance

Three Months Ended

($ in millions, unless otherwise noted)

Mar 31 2026

Mar 31 2025

Change

Net income

$139

$5

NM

Core earnings

$141

$6

NM

Written premiums

$862

$913

(6%)

Underwriting gain (loss)

$113

$(55)

NM

Underlying underwriting gain

$137

$93

47%

Losses and loss adjustment expense ratio

60.6

79.1

(18.5)

Expenses

27.0

27.0

—

Combined ratio

87.7

106.1

(18.4)

Impact of catastrophes and PYD on combined ratio

(2.6)

(16.5)

13.9

Underlying combined ratio

85.0

89.7

(4.7)

Losses and loss adjustment expense ratio

Underlying loss and loss adjustment expense ratio

58.0

62.6

(4.6)

Current accident year catastrophes

6.5

20.8

(14.3)

Prior accident year development

(3.9)

(4.3)

0.4

Total Losses and loss adjustment expense ratio

60.6

79.1

(18.5)

Net income of $139 million in first quarter 2026 compared with net income of $5 million in first quarter 2025, primarily due to lower CAY CAT losses and an improvement in the underlying loss and loss adjustment expense ratio.

Personal Insurance core earnings of $141 million compared with core earnings of $6 million in first quarter 2025. Contributing to the results were:

1% growth in earned premium largely driven by the impact of double-digit earned pricing increases. An underlying loss and loss adjustment expense ratio of 58.0 in first quarter 2026, which improved 4.6 points from 62.6 in first quarter 2025, driven by the impact of earned pricing increases outpacing loss cost trends. $35 million, before tax, of favorable PYD in first quarter of 2026, compared with $39 million of favorable PYD in first quarter 2025. The net favorable PYD in first quarter 2026 primarily includes reserve reductions in automobile and homeowners. CAY CAT losses of $59 million, before tax, in first quarter 2026, including losses from tornado, wind and hail events across several regions, but concentrated in the Midwest region, and losses from winter storms across several regions, compared with $187 million of CAY CAT losses in first quarter 2025. Net investment income of $62 million, before tax, in first quarter 2026 compared with $57 million in first quarter 2025. Combined ratio of 87.7 in first quarter 2026 compared with 106.1 in first quarter 2025, primarily due to an 18.5 point improvement in the loss and loss adjustment expense ratio, including 14.3 points of lower CAY CAT losses and a 4.6 point improvement in the underlying loss and loss adjustment expense ratio, partially offset by 0.4 points of less favorable PYD. Underlying combined ratio of 85.0 improved 4.7 points from 89.7 in first quarter 2025, primarily due to improvement in the underlying loss and loss adjustment expense ratio in automobile and homeowners.

Personal Automobile combined ratio of 89.6 improved 3.9 points from 93.5 in first quarter 2025, including 0.5 points of lower CAY CATs, partially offset by 0.5 points of less favorable PYD. The underlying combined ratio of 92.2 improved 3.9 points from 96.1 in first quarter 2025, primarily due to improvement in the underlying loss and loss adjustment expense ratio, driven by the impact of earned pricing increases outpacing loss cost trends. Homeowners combined ratio of 83.8 compared with 133.2 in first quarter 2025, including 46.1 points of lower CAY CATs, partially offset by 0.8 points of less favorable PYD. The underlying combined ratio of 71.0 improved 4.1 points from 75.1 in first quarter 2025, primarily due to improvement in the underlying loss and loss adjustment expense ratio, driven by the impact of earned pricing increases outpacing loss cost trends. The expense ratio of 27.0 was flat compared with first quarter 2026. Written premiums in first quarter 2026 were $862 million compared with $913 million in first quarter 2025, with:

Renewal written price increases in automobile and homeowners of 6.8% and 11.8%, respectively. Effective policy count retention was relatively stable in automobile and homeowners due to strong but moderating renewal written price increases.  Employee Benefits

Three Months Ended

($ in millions, unless otherwise noted)

Mar 31 2026

Mar 31 2025

Change

Net income

$118

$133

(11%)

Core earnings

$127

$136

(7%)

Fully insured ongoing premiums

$1,654

$1,612

3%

Loss ratio

71.7%

71.9%

(0.2)

Expense ratio

26.7%

25.4%

1.3

Net income margin

6.4%

7.4%

(1.0)

Core earnings margin

6.9%

7.6%

(0.7)

Net income of $118 million in first quarter 2026 compared with $133 million in first quarter 2025, primarily due to an increase in the group disability loss ratio and expense ratio, partially offset by improvement in the group life loss ratio and increased net investment income. Core earnings of $127 million, compared with $136 million in first quarter 2025, primarily reflecting the same drivers as net income.

Fully insured ongoing premiums were up 3% compared with first quarter 2025, including increased new business sales across all products, an increase in exposure on existing accounts and persistency in excess of 90%. Fully insured ongoing sales were up 53% in first quarter 2026, compared with first quarter 2025, driven by higher group disability sales, including paid family and medical leave product (PFML) sales following initial expansion into two new states, and higher group life sales.

Loss ratio of 71.7 compared with 71.9 in first quarter 2025.

Group life loss ratio of 73.2 improved 6.7 points due to lower mortality across both term and accidental life products. Group disability loss ratio of 72.7 increased 3.7 points driven by less favorable long-term disability loss trends and higher short-term disability claim incidence, including PFML, partially offset by continued PFML pricing actions. Expense ratio of 26.7 increased 1.3 points compared with 25.4 in first quarter 2025, driven by higher staffing costs and higher technology costs.

Net investment income of $131 million, before tax, compared with $126 million in first quarter 2025.

Hartford Funds

Three Months Ended

($ in millions, unless otherwise noted)

Mar 31 2026

Mar 31 2025

Change

Net income

$49

$43

14%

Core earnings

$51

$44

16%

Daily average Hartford Funds Assets Under Management (AUM)

$155,958

$141,834

10%

Mutual Funds and exchange-traded funds (ETF) net flows

$(533)

$(1,432)

63%

Total Hartford Funds AUM

$150,821

$138,098

9%

First quarter 2026 net income of $49 million compared with $43 million in first quarter 2025, primarily due to an increase in fee income net of operating costs and other expenses driven by higher daily average Hartford Funds AUM, partially offset by net realized losses in the 2026 period. Core earnings of $51 million compared with $44 million in first quarter 2025, with the change primarily reflecting the same drivers as net income, excluding the impact of net realized losses.

Daily average AUM of $156 billion in first quarter 2026 increased 10% from first quarter 2025.

Mutual fund and ETF net outflows totaled $533 million in first quarter 2026, compared with net outflows of $1.4 billion in first quarter 2025.

Corporate

Three Months Ended

($ in millions, unless otherwise noted)

Mar 31 2026

Mar 31 2025

Change

Net loss

$(28)

$(41)

32%

Net loss available to common stockholders

$(33)

$(46)

28%

Core loss

$(18)

$(31)

42%

Net investment income, before tax

$16

$14

14%

Interest expense and preferred dividends, before tax

$55

$55

—%

Net loss available to common stockholders of $33 million in first quarter 2026 compared with $46 million in first quarter 2025, driven by a higher net tax benefit, including the impact of stock-based compensation awards vesting during the quarter and interest related to income tax refunds, and an increase in other revenues related to valuation appreciation of an investment. First quarter 2026 core loss of $18 million compared with $31 million in first quarter 2025, with the change primarily reflecting the same drivers as net income.

INVESTMENT INCOME AND PORTFOLIO DATA:

Three Months Ended

($ in millions, unless otherwise noted)

Mar 31 2026

Mar 31 2025

Change

Net investment income, before tax

$739

$656

13%

Annualized investment yield, before tax

4.5%

4.3%

0.2

Annualized investment yield, before tax, excluding LPs1

4.5%

4.4%

0.1

Annualized LP yield, before tax

5.1%

3.1%

2.0

Annualized investment yield, after tax

3.6%

3.4%

0.2

[1] Denotes financial measure not calculated in accordance with generally accepted accounting principles (non-GAAP); definitions of non-GAAP measures and reconciliations to their closest U.S. GAAP measures can be found in this news release under the heading Discussion of Non-GAAP Financial Measures

First quarter 2026 consolidated net investment income of $739 million compared with $656 million in first quarter 2025, primarily driven by increased income from LPs, a higher level of invested assets, and reinvesting at higher rates.

First quarter 2026 net investment income, excluding LPs*, of $664 million, before tax, compared to $617 million in first quarter 2025, a 7.6% increase, primarily driven by a higher level of invested assets and reinvesting at higher rates.

First quarter 2026 included $75 million, before tax, of LP income as compared with $39 million in first quarter 2025, driven by higher returns on other funds, including valuation increases primarily within infrastructure and energy transition funds, partially offset by lower returns on real estate joint ventures. Annualized LP yield, before tax, of 5.1% compared with 3.1% in first quarter 2025.

Net realized losses of $55 million, before tax, in first quarter 2026 compared with $49 million, before tax, in first quarter 2025.

Total invested assets of $63.7 billion decreased $0.2 billion from Dec. 31, 2025, primarily due to a decrease in valuation of fixed maturities, driven by higher interest rates, partially offset by an increase in mortgage loans and LPs.

CONFERENCE CALL

The Hartford will discuss its first quarter 2026 financial results on a webcast at 9:00 a.m. EDT on Friday, April 24, 2026. The call can be accessed via a live listen-only webcast or as a replay through the Investor Relations section of The Hartford's website at https://ir.thehartford.com. The replay will be accessible approximately one hour after the conclusion of the call and be available along with a transcript of the event for at least one year.

More detailed financial information can be found in The Hartford's Investor Financial Supplement for March 31, 2026, and the first quarter 2026 Financial Results Presentation, both of which are available at https://ir.thehartford.com.

About The Hartford

The Hartford is a leader in property and casualty insurance, employee benefits and mutual funds. With more than 200 years of expertise, The Hartford is widely recognized for its service excellence, sustainability practices, trust and integrity. More information on the company and its financial performance is available at https://www.thehartford.com.

The Hartford Insurance Group, Inc., (NYSE: HIG) operates through its subsidiaries under the brand name, The Hartford, and is headquartered in Hartford, Connecticut. For additional details, please read The Hartford’s legal notice.

HIG-F

From time to time, The Hartford may use its website and/or social media channels to disseminate material company information. Financial and other important information regarding The Hartford is routinely accessible through and posted on our website at https://ir.thehartford.com. In addition, you may automatically receive email alerts and other information about The Hartford when you enroll your email address by visiting the “Email Alerts” section at https://ir.thehartford.com.

THE HARTFORD INSURANCE GROUP, INC.

CONSOLIDATING INCOME STATEMENTS

Three Months Ended March 31, 2026

($ in millions)

Business

Insurance

Personal

Insurance

P&C

Other

Ops

Employee

Benefits

Hartford

Funds

Corporate

Consolidated

Earned premiums

$

3,572

$

907

$

—

$

1,666

$

—

$

—

$

6,145

Fee income

12

8

—

57

283

10

370

Net investment income

505

62

20

131

5

16

739

Net realized losses

(19

)

(4

)

(1

)

(11

)

(3

)

(17

)

(55

)

Other revenue

—

22

—

—

—

5

27

Total revenues

4,070

995

19

1,843

285

14

7,226

Benefits, losses, and loss adjustment expenses

2,245

550

(36

)

1,238

—

1

3,998

Amortization of DAC

577

71

—

8

—

—

656

Insurance operating costs and other expenses

569

199

2

439

223

15

1,447

Interest expense

—

—

—

—

—

50

50

Amortization of other intangible assets

7

1

—

10

—

—

18

Total benefits, losses and expenses

3,398

821

(34

)

1,695

223

66

6,169

Income (loss) before income taxes

672

174

53

148

62

(52

)

1,057

Income tax expense (benefit)

136

35

11

30

13

(24

)

201

Net income (loss)

536

139

42

118

49

(28

)

856

Preferred stock dividends

—

—

—

—

—

5

5

Net income (loss) available to common stockholders

536

139

42

118

49

(33

)

851

Adjustments to reconcile net income (loss) available to common stockholders to core earnings (loss)

Net realized losses, excluded from core earnings, before tax

18

4

1

11

3

17

54

Integration and other non-recurring M&A costs, before tax

1

—

—

—

—

—

1

Change in deferred gain on retroactive reinsurance, before tax

—

—

(36

)

—

—

—

(36

)

Income tax expense (benefit)

(4

)

(2

)

7

(2

)

(1

)

(2

)

(4

)

Core earnings (loss)

$

551

$

141

$

14

$

127

$

51

$

(18

)

$

866

THE HARTFORD INSURANCE GROUP, INC.

CONSOLIDATING INCOME STATEMENTS

Three Months Ended March 31, 2025

($ in millions)

Business Insurance

Personal Insurance

P&C

Other Ops

Employee Benefits

Hartford Funds

Corporate

Consolidated

Earned premiums

$

3,324

$

899

$

—

$

1,612

$

—

$

—

$

5,835

Fee income

11

8

—

56

260

11

346

Net investment income

437

57

18

126

4

14

656

Net realized losses

(24

)

(2

)

—

(4

)

—

(19

)

(49

)

Other revenue

1

20

—

—

—

1

22

Total revenues

3,749

982

18

1,790

264

7

6,810

Benefits, losses, and loss adjustment expenses

2,088

711

—

1,199

—

2

4,000

Amortization of DAC

531

68

—

8

—

—

607

Insurance operating costs and other expenses

524

197

2

406

209

14

1,352

Interest expense

—

—

—

—

—

50

50

Amortization of other intangible assets

7

1

—

10

—

—

18

Total benefits, losses and expenses

3,150

977

2

1,623

209

66

6,027

Income (loss) before income taxes

599

5

16

167

55

(59

)

783

Income tax expense (benefit)

122

—

3

34

12

(18

)

153

Net income (loss)

477

5

13

133

43

(41

)

630

Preferred stock dividends

—

—

—

—

—

5

5

Net income (loss) available to common stockholders

477

5

13

133

43

(46

)

625

Adjustments to reconcile net income (loss) available to common stockholders to core earnings (loss)

Net realized losses, excluded from core earnings, before tax

22

2

—

4

—

19

47

Integration and other non-recurring M&A costs, before tax

2

—

—

—

—

—

2

Change in deferred gain on retroactive reinsurance, before tax

(32

)

—

—

—

—

—

(32

)

Income tax expense (benefit)

2

(1

)

—

(1

)

1

(4

)

(3

)

Core earnings (loss)

$

471

$

6

$

13

$

136

$

44

$

(31

)

$

639

The Hartford defines increases or decreases greater than or equal to 200%, or changes from a net gain to a net loss position, or vice versa, as "NM" or not meaningful.

DISCUSSION OF NON-GAAP FINANCIAL MEASURES

The Hartford uses non-GAAP financial measures in this news release to assist investors in analyzing the Company's operating performance for the periods presented herein. Because The Hartford's calculation of these measures may differ from similar measures used by other companies, investors should be careful when comparing The Hartford's non-GAAP financial measures to those of other companies. Definitions and calculations of other financial measures used in this news release can be found below and in The Hartford's Investor Financial Supplement for first quarter 2026, which is available on the investor relations section of The Hartford's website, https://ir.thehartford.com.

Annualized investment yield, excluding limited partnerships and other alternative investments - This non-GAAP measure is calculated as (a) the annualized net investment income, excluding limited partnerships and other alternative investments, divided by (b) the monthly average invested assets at amortized cost, as applicable, excluding derivatives book value and limited partnerships and other alternative investments. The Company believes that annualized investment yield, excluding limited partnerships and other alternative investments, provides investors with an important measure of the trend in investment earnings because it excludes the impact of the volatility in returns related to limited partnerships and other alternative investments. Annualized investment yield is the most directly comparable U.S GAAP measure. A reconciliation of annualized investment yield to annualized investment yield excluding limited partnerships and other alternative investments for the quarterly periods ended March 31, 2026 and 2025 is provided in the table below.

Three Months Ended

Mar 31 2026

Mar 31 2025

Annualized investment yield

4.5

%

4.3

%

Adjustment for income from limited partnerships and other alternative investments

—

%

0.1

%

Annualized investment yield excluding limited partnerships and other alternative investments

4.5

%

4.4

%

Net investment income, excluding limited partnerships and other alternative investments-This non-GAAP measure is the amount of net investment income earned from invested assets, excluding the net investment income related to limited partnerships and other alternative investments. The Company believes that net investment income, excluding limited partnerships and other alternative investments, provides investors with an important measure of the trend in investment earnings because it excludes the impact of the volatility in returns related to limited partnerships and other alternative investments. Net investment income is the most directly comparable U.S. GAAP measure. A reconciliation of net investment income to net investment income excluding limited partnerships and other alternative investments for the quarterly periods ended March 31, 2026 and 2025 is provided in the table below.

Three Months Ended

Mar 31 2026

Mar 31 2025

Total net investment income

$

739

$

656

Adjustment for income from limited partnerships and other alternative investments

$

(75

)

$

(39

)

Net investment income excluding limited partnerships and other alternative investments

$

664

$

617

Book value per diluted share (excluding AOCI) - This is a non-GAAP per share measure that is calculated by dividing (a) common stockholders' equity, excluding AOCI, after tax, by (b) common shares outstanding and dilutive potential common shares. The Company provides this measure to enable investors to analyze the amount of the Company's net worth that is primarily attributable to the Company's business operations. The Company believes that excluding AOCI from the numerator is useful to investors because it eliminates the effect of items that can fluctuate significantly from period to period, primarily based on changes in interest rates. Book value per diluted share is the most directly comparable U.S. GAAP measure. A reconciliation of book value per diluted share to book value per diluted share (excluding AOCI) is provided in the table below.

As of

Mar 31 2026

Dec 31 2025

Change

Book value per diluted share

$

66.58

$

66.31

0.4

%

Per diluted share impact of AOCI

$

8.67

$

7.31

18.6

%

Book value per diluted share (excluding AOCI)

$

75.25

$

73.62

2.2

%

  As of

Mar 31 2026

Mar 31 2025

Change

Book value per diluted share

$

66.58

$

57.07

16.7

%

Per diluted share impact of AOCI

$

8.67

$

8.92

(2.8

%)

Book value per diluted share (excluding AOCI)

$

75.25

$

65.99

14.0

%

Core earnings - The Hartford uses the non-GAAP measure core earnings as an important measure of the Company’s operating performance. The Hartford believes that core earnings provides investors with a valuable measure of the performance of the Company’s ongoing businesses because it reveals trends in our insurance and financial services businesses that may be obscured by including the net effect of certain items. Therefore, the following items are excluded from core earnings:

Certain realized gains and losses - Generally realized gains and losses are primarily driven by investment decisions and external economic developments, the nature and timing of which are unrelated to the insurance and underwriting aspects of our business. Accordingly, core earnings excludes the effect of all realized gains and losses that tend to be highly variable from period to period based on capital market conditions. The Hartford believes, however, that some realized gains and losses are integrally related to our insurance operations, so core earnings includes net realized gains and losses such as net periodic settlements on credit derivatives. These net realized gains and losses are directly related to an offsetting item included in the income statement such as net investment income. Restructuring and other costs - Costs incurred as part of a restructuring plan are not a recurring operating expense of the business. Loss on extinguishment of debt - Largely consisting of make-whole payments or tender premiums upon paying debt off before maturity, these losses are not a recurring operating expense of the business. Gains and losses on reinsurance transactions - Gains or losses on reinsurance, such as those entered into upon sale of a business or to reinsure loss reserves, are not a recurring operating expense of the business. Integration and other non-recurring M&A costs - These costs, including transaction costs incurred in connection with an acquired business, are incurred over a short period of time and do not represent an ongoing operating expense of the business. Change in loss reserves upon acquisition of a business - These changes in loss reserves are excluded from core earnings because such changes could obscure the ability to compare results in periods after the acquisition to results of periods prior to the acquisition. Deferred gain resulting from retroactive reinsurance and subsequent changes in the deferred gain - Retroactive reinsurance agreements economically transfer risk to the reinsurers and excluding the deferred gain on retroactive reinsurance and related amortization of the deferred gain from core earnings provides greater insight into the economics of the business. Change in valuation allowance on deferred taxes related to non-core components of before tax income - These changes in valuation allowances are excluded from core earnings because they relate to non-core components of before tax income, such as tax attributes like capital loss carryforwards. Results of discontinued operations - These results are excluded from core earnings for businesses sold or held for sale because such results could obscure the ability to compare period over period results for our ongoing businesses. In addition to the above components of net income available to common stockholders that are excluded from core earnings, preferred stock dividends declared, which are excluded from net income, are included in the determination of core earnings. Preferred stock dividends are a cost of financing more akin to interest expense on debt and are expected to be a recurring expense as long as the preferred stock is outstanding.

Net income (loss) and net income (loss) available to common stockholders are the most directly comparable U.S. GAAP measures to core earnings. Core earnings should not be considered as a substitute for net income (loss) or net income (loss) available to common stockholders and does not reflect the overall profitability of the Company’s business. Therefore, The Hartford believes that it is useful for investors to evaluate net income (loss), net income (loss) available to common stockholders, and core earnings when reviewing the Company’s performance.

A reconciliation of net income (loss) to core earnings (loss) for the quarterly periods ended March 31, 2026 and 2025, for individual reporting segments can be found in this news release under the heading "The Hartford Insurance Group, Inc. Consolidating Income Statements."

Core earnings margin - The Hartford uses the non-GAAP measure core earnings margin to evaluate, and believes it is an important measure of, the Employee Benefits segment's operating performance. Core earnings margin is calculated by dividing core earnings by revenues, excluding buyouts and realized gains (losses). Net income margin, calculated by dividing net income by revenues, is the most directly comparable U.S. GAAP measure. The Company believes that core earnings margin provides investors with a valuable measure of the performance of Employee Benefits because it reveals trends in the business that may be obscured by the effect of buyouts and realized gains (losses) as well as other items excluded in the calculation of core earnings. Core earnings margin should not be considered as a substitute for net income margin and does not reflect the overall profitability of Employee Benefits. Therefore, the Company believes it is important for investors to evaluate both core earnings margin and net income margin when reviewing performance. A reconciliation of net income margin to core earnings margin for the quarterly periods ended March 31, 2026 and 2025, is set forth below.

Three Months Ended

Mar 31 2026

Mar 31 2025

Change

Net income margin

6.4

%

7.4

%

(1.0

)

Adjustments to reconcile net income margin to core earnings margin:

Net realized losses, before tax

0.6

%

0.3

%

0.3

Income tax benefit on items excluded from core earnings

(0.1

)%

(0.1

)%

—

Core earnings margin

6.9

%

7.6

%

(0.7

)

Core earnings per diluted share - This non-GAAP per share measure is calculated using the non-GAAP financial measure core earnings rather than the U.S. GAAP measure net income. The Company believes that core earnings per diluted share provides investors with a valuable measure of the Company's operating performance for the same reasons applicable to its underlying measure, core earnings. Net income (loss) available to common stockholders per diluted common share is the most directly comparable U.S. GAAP measure. Core earnings per diluted share should not be considered as a substitute for net income (loss) available to common stockholders per diluted common share and does not reflect the overall profitability of the Company's business. Therefore, the Company believes that it is useful for investors to evaluate net income (loss) available to common stockholders per diluted common share and core earnings per diluted share when reviewing the Company's performance. A reconciliation of net income available to common stockholders per diluted share to core earnings per diluted share for the quarterly periods ended March 31, 2026 and 2025 is provided in the table below.

Three Months Ended

Mar 31 2026

Mar 31 2025

Change

Per Share Data

Diluted earnings per common share:

Net income available to common stockholders per share1

$

3.04

$

2.15

41

%

Adjustments made to reconcile net income available to common stockholders per diluted share to core earnings per diluted share:

Net realized losses, excluded from core earnings, before tax

0.19

0.16

19

%

Integration and other non-recurring M&A costs, before tax

—

0.01

(100

%)

Change in deferred gain on retroactive reinsurance, before tax

(0.13

)

(0.11

)

(18

%)

Income tax benefit on items excluded from core earnings

(0.01

)

(0.01

)

—

%

Core earnings per diluted share

$

3.09

$

2.20

40

%

[1] Net income available to common stockholders includes dilutive potential common shares

Core Earnings Return on Equity - The Company provides different measures of the return on stockholders' equity (ROE). Core earnings ROE is calculated based on non-GAAP financial measures. Core earnings ROE is calculated by dividing (a) the non-GAAP measure core earnings for the prior four fiscal quarters by (b) the non-GAAP measure average common stockholders' equity, excluding AOCI. Net income ROE is the most directly comparable U.S. GAAP measure. The Company excludes AOCI in the calculation of core earnings ROE to provide investors with a measure of how effectively the Company is investing the portion of the Company's net worth that is primarily attributable to the Company's business operations. The Company provides to investors return on equity measures based on its non-GAAP core earnings financial measure for the reasons set forth in the core earnings definition. A quantitative reconciliation of net income available to common stockholders ROE to core earnings ROE is not calculable on a forward-looking basis because it is not possible to provide a reliable forecast of realized gains and losses, which typically vary substantially from period to period.

A reconciliation of consolidated net income available to common stockholders ROE to consolidated core earnings ROE is set forth below.

Three Months Ended

Mar 31 2026

Mar 31 2025

Net income available to common stockholders ROE

23.0

%

18.8

%

Adjustments to reconcile net income available to common stockholders ROE to core earnings ROE:

Net realized losses excluded from core earnings, before tax

0.6

%

0.8

%

Integration and other non-recurring M&A costs, before tax

—

%

0.1

%

Change in deferred gain on retroactive reinsurance, before tax

(0.4

)%

(0.6

)%

Income tax benefit on items not included in core earnings

(0.1

)%

(0.1

%)

Impact of AOCI, excluded from denominator of core earnings ROE

(2.8

)%

(2.8

%)

Core earnings ROE

20.3

%

16.2

%

Underlying combined ratio- This non-GAAP financial measure of underwriting results represents the combined ratio before catastrophes, prior accident year development and current accident year change in loss reserves upon acquisition of a business. Combined ratio is the most directly comparable U.S. GAAP measure. The Company believes this ratio is an important measure of the trend in profitability since it removes the impact of volatile and unpredictable catastrophe losses and prior accident year loss and loss adjustment expense reserve development. The changes to loss reserves upon acquisition of a business are excluded from underlying combined ratio because such changes could obscure the ability to compare results in periods after the acquisition to results of periods prior to the acquisition as such trends are valuable to our investors' ability to assess the Company's financial performance. A reconciliation of the combined ratio to the underlying combined ratio for individual reporting segments can be found in this news release under the heading "Business Results" for "Business Insurance" and "Personal Insurance". A reconciliation of the combined ratio to underlying combined ratio for lines of business within the Company's P&C reporting segments is set forth below.

SMALL BUSINESS

Three Months Ended

Mar 31 2026

Mar 31 2025

Change

Combined ratio

91.9

93.3

(1.4

)

Adjustment to reconcile combined ratio to underlying combined ratio:

Current accident year catastrophes

(6.5

)

(8.0

)

1.5

Prior accident year development

4.0

4.1

(0.1

)

Underlying combined ratio

89.4

89.4

—

MIDDLE & LARGE BUSINESS

Three Months Ended

Mar 31 2026

Mar 31 2025

Change

Combined ratio

95.6

99.8

(4.2

)

Adjustment to reconcile combined ratio to underlying combined ratio:

Current accident year catastrophes

(3.7

)

(8.9

)

5.2

Prior accident year development

(0.7

)

(0.3

)

(0.4

)

Underlying combined ratio

91.3

90.6

0.7

GLOBAL SPECIALTY

Three Months Ended

Mar 31 2026

Mar 31 2025

Change

Combined ratio

90.7

89.3

1.4

Adjustment to reconcile combined ratio to underlying combined ratio:

Current accident year catastrophes

(3.4

)

(8.7

)

5.3

Prior accident year development

(1.2

)

3.4

(4.6

)

Underlying combined ratio

86.1

84.0

2.1

PERSONAL AUTOMOBILE

Three Months Ended

Mar 31 2026

Mar 31 2025

Change

Combined ratio

89.6

93.5

(3.9

)

Adjustment to reconcile combined ratio to underlying combined ratio:

Current accident year catastrophes

(0.7

)

(1.2

)

0.5

Prior accident year development

3.3

3.8

(0.5

)

Underlying combined ratio

92.2

96.1

(3.9

)

HOMEOWNERS

Three Months Ended

Mar 31 2026

Mar 31 2025

Change

Combined ratio

83.8

133.2

(49.4

)

Adjustment to reconcile combined ratio to underlying combined ratio:

Current accident year catastrophes

(17.6

)

(63.7

)

46.1

Prior accident year development

4.8

5.6

(0.8

)

Underlying combined ratio

71.0

75.1

(4.1

)

Underwriting gain (loss) -This non-GAAP financial measure is a before tax measure that represents earned premiums less incurred losses, loss adjustment expenses and underwriting expenses. Net income (loss) is the most directly comparable U.S. GAAP measure. The Hartford's management evaluates profitability of the Business and Personal Insurance segments primarily on the basis of underwriting gain or loss. Underwriting gain (loss) is influenced significantly by earned premium growth and the adequacy of The Hartford's pricing. Underwriting profitability over time is also greatly influenced by The Hartford's underwriting discipline, as management strives to manage exposure to loss through favorable risk selection and diversification, effective management of claims, use of reinsurance and its ability to manage its expenses. The Hartford believes that underwriting gain (loss) provides investors with a valuable measure of profitability, before tax, derived from underwriting activities, which are managed separately from the Company's investing activities. Reconciliations of net income (loss) to underwriting gain (loss) for the quarterly periods ended March 31, 2026 and 2025, is set forth below.

Underlying underwriting gain (loss) - This non-GAAP measure of underwriting profitability represents underwriting gain (loss) before current accident year catastrophes, PYD and current accident year change in loss reserves upon acquisition of a business. The most directly comparable U.S GAAP measure is net income (loss). The Company believes underlying underwriting gain (loss) is important to understand the Company’s periodic earnings because the volatile and unpredictable nature (i.e., the timing and amount) of catastrophes and prior accident year reserve development could obscure underwriting trends. The changes to loss reserves upon acquisition of a business are also excluded from underlying underwriting gain (loss) because such changes could obscure the ability to compare results in periods after the acquisition to results of periods prior to the acquisition as such trends are valuable to our investors' ability to assess the Company's financial performance. Reconciliations of net income (loss) to underlying underwriting gain for individual reporting segments for the quarterly periods ended March 31, 2026 and 2025, is set forth below.

BUSINESS INSURANCE

Three Months

Ended

Mar 31 2026

Mar 31 2025

Net income

$

536

$

477

Adjustments to reconcile net income to underwriting gain:

Net investment income

(505

)

(437

)

Net realized losses

19

24

Other (income) expense

(1

)

1

Income tax expense

136

122

Underwriting gain

185

187

Adjustments to reconcile underwriting gain to underlying underwriting gain:

Current accident year catastrophes

171

280

Prior accident year development

30

(83

)

Underlying underwriting gain

$

386

$

384

PERSONAL INSURANCE

Three Months

Ended

Mar 31 2026

Mar 31 2025

Net income

$

139

$

5

Adjustments to reconcile net income to underwriting gain (loss):

Net investment income

(62

)

(57

)

Net realized losses

4

2

Net servicing and other (income) expense

(3

)

(5

)

Income tax expense

35

—

Underwriting gain (loss)

113

(55

)

Adjustments to reconcile underwriting gain to underlying underwriting gain:

Current accident year catastrophes

59

187

Prior accident year development

(35

)

(39

)

Underlying underwriting gain

$

137

$

93

Underlying loss and loss adjustment expense ratio - This non-GAAP financial measure is the cost of non-catastrophe loss and loss adjustment expenses incurred in the current accident year divided by earned premiums. The loss and loss adjustment expense ratio is the most directly comparable U.S. GAAP measure. Management believes that the underlying loss and loss adjustment expense ratio is a performance measure that is useful to investors as it removes the impact of volatile and unpredictable catastrophe losses and prior accident year development ("PYD"). Reconciliations of the loss and loss adjustment expense ratio to the underlying loss and loss adjustment expense ratio for the quarterly periods ended March 31, 2026 and 2025, is set forth below.

PROPERTY & CASUALTY

Three Months Ended

Mar 31 2026

Mar 31 2025

Change

Loss and loss adjustment expense ratio

61.6

66.3

(4.7

)

Adjustment to reconcile loss and loss adjustment expense ratio to underlying loss and loss adjustment expense ratio:

Current accident year catastrophes and prior accident year development

(4.2

)

(8.2

)

4.0

Underlying loss and loss adjustment expense ratio

57.4

58.1

(0.7

)

BUSINESS INSURANCE

Three Months Ended

Mar 31 2026

Mar 31 2025

Change

Loss and loss adjustment expense ratio

62.8

62.8

—

Adjustment to reconcile loss and loss adjustment expense ratio to underlying loss and loss adjustment expense ratio:

Current accident year catastrophes and prior accident year development

(5.6

)

(5.9

)

0.3

Underlying loss and loss adjustment expense ratio

57.2

56.9

0.3

PERSONAL INSURANCE

Three Months Ended

Mar 31 2026

Mar 31 2025

Change

Loss and loss adjustment expense ratio

60.6

79.1

(18.5

)

Adjustment to reconcile loss and loss adjustment expense ratio to underlying loss and loss adjustment expense ratio:

Current accident year catastrophes and prior accident year development

(2.6

)

(16.5

)

13.9

Underlying loss and loss adjustment expense ratio

58.0

62.6

(4.6

)

PERSONAL INSURANCE - AUTOMOBILE

Three Months Ended

Mar 31 2026

Mar 31 2025

Change

Loss and loss adjustment expense ratio

63.5

67.3

(3.8

)

Adjustment to reconcile loss and loss adjustment expense ratio to underlying loss and loss adjustment expense ratio:

Current accident year catastrophes and prior accident year development

2.8

2.5

0.3

Underlying loss and loss adjustment expense ratio

66.3

69.9

(3.6

)

PERSONAL INSURANCE - HOMEOWNERS

Three Months Ended

Mar 31 2026

Mar 31 2025

Change

Loss and loss adjustment expense ratio

55.00

104.3

(49.3

)

Adjustment to reconcile loss and loss adjustment expense ratio to underlying loss and loss adjustment expense ratio:

Current accident year catastrophes and prior accident year development

(12.8

)

(58.1

)

45.3

Underlying loss and loss adjustment expense ratio

42.2

46.3

(4.1

)

SAFE HARBOR STATEMENT

Certain of the statements contained herein are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as “anticipates,” “intends,” “plans,” “seeks,” “believes,” “estimates,” “expects,” “projects,” and similar references to future periods.

Forward-looking statements are based on management's current expectations and assumptions regarding future economic, competitive, legislative and other developments and their potential effect upon The Hartford Insurance Group, Inc. and its subsidiaries (collectively, the "Company" or "The Hartford"). Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Actual results could differ materially from expectations depending on the evolution of various factors, including the risks and uncertainties identified below, as well as factors described in such forward-looking statements; or in The Hartford’s 2025 Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and our other filings with the Securities and Exchange Commission.

Risks Relating to Economic, Political and Global Market Conditions: challenges related to the Company’s current operating environment, including global political, economic and market conditions, and the effect of financial market disruptions, economic downturns, changes in trade regulation including tariffs and other barriers or other potentially adverse macroeconomic developments on the demand for our products and returns in our investment portfolios; market risks associated with our business, including changes in credit spreads, equity prices, interest rates, inflation rate, foreign currency exchange rates and market volatility; the impact on our investment portfolio if our investment portfolio is concentrated in any particular segment of the economy; the impacts of changing climate and weather patterns on our businesses, operations and investment portfolio including on claims, demand and pricing of our products, the availability and cost of reinsurance, our modeling data used to evaluate and manage risks of catastrophes and severe weather events, the value of our investment portfolios and credit risk with reinsurers and other counterparties; Insurance Industry and Product-Related Risks: the possibility of unfavorable loss development, including with respect to long-tailed exposures; the significant uncertainties that limit our ability to estimate the ultimate reserves necessary for asbestos and environmental claims; the possibility of a pandemic, civil unrest, earthquake, or other natural or man-made disaster that may adversely affect our businesses; weather and other natural physical events, including the intensity and frequency of thunderstorms, tornadoes, hail, wildfires, flooding, winter storms, hurricanes and tropical storms, as well as climate change and its potential impact on weather patterns; the possible occurrence of terrorist attacks and the Company’s inability to contain its exposure as a result of, among other factors, the inability to exclude coverage for terrorist attacks from workers' compensation policies and limitations on reinsurance coverage from the federal government under applicable laws; the Company’s ability to effectively price its products and policies, including its ability to obtain regulatory consents to pricing actions or to non-renewal or withdrawal of certain product lines; actions by competitors that may be larger or have greater financial resources than we do; technological changes, including usage-based methods of determining premiums, advancements in certain emerging technologies, including machine learning, predictive analytics, “big data” analysis or other artificial intelligence functions, advancements in automotive safety features, the development of autonomous vehicles, and platforms that facilitate ride sharing could provide our competitors with a competitive advantage and could impact the rate and severity of claims, as well as the demand for our products; the Company's ability to market, distribute and provide insurance products and investment advisory services through current and future distribution channels and advisory firms; the uncertain effects of emerging claim and coverage issues; political instability, politically motivated violence or civil unrest, which may increase the frequency and severity of insured losses; Financial Strength, Credit and Counterparty Risks: risks to our business, financial position, prospects and results associated with negative rating actions or downgrades in the Company’s financial strength and credit ratings or negative rating actions or downgrades relating to our investments; capital requirements which are subject to many factors, including many that are outside the Company’s control, such as National Association of Insurance Commissioners ("NAIC") risk based capital formulas, rating agency capital models, Funds at Lloyd's and Solvency Capital Requirement, which can in turn affect our credit and financial strength ratings, cost of capital, regulatory compliance and other aspects of our business and results; losses due to nonperformance or defaults by others, including credit risk with counterparties associated with investments, derivatives, premiums receivable, reinsurance recoverables and indemnifications provided by third parties in connection with previous dispositions; the potential for losses due to our reinsurers' unwillingness or inability to meet their obligations under reinsurance contracts and the availability, pricing and adequacy of reinsurance to protect the Company against losses; state and international regulatory limitations on the ability of the Company and certain of its subsidiaries to declare and pay dividends;

Risks Relating to Estimates, Assumptions and Valuations: risks associated with the use of analytical models in making decisions in key areas such as underwriting, pricing, capital management, reserving, investments, reinsurance and catastrophe risk management; the potential for differing interpretations of the methodologies, estimations and assumptions that underlie the Company’s fair value estimates for its investments and the evaluation of intent-to-sell impairments and allowance for credit losses on available-for-sale securities and mortgage loans; the potential for impairments of our goodwill;

Strategic and Operational Risks: the Company’s ability to maintain the availability of its systems and safeguard the security of its data in the event of a disaster, cyber breach or other information security incident, technology failure or other unanticipated event; the potential for difficulties arising from outsourcing, including vendors and similar third-party relationships; the risks, challenges and uncertainties associated with capital management plans, expense reduction initiatives and other actions; risks associated with acquisitions and divestitures, including the challenges of integrating acquired companies or businesses, which may result in our inability to achieve the anticipated benefits and synergies and may result in unintended consequences; difficulty in attracting and retaining talented and qualified personnel, including key employees, such as executives, managers and employees with strong technological, analytical and other specialized skills; the Company’s ability to protect its intellectual property and defend against claims of infringement;

Regulatory and Legal Risks: the cost and other potential effects of increased federal, state and international regulatory and legislative developments, including those that could adversely impact the demand for the Company’s products, operating costs and required capital levels; unfavorable judicial or legislative developments; the impact of changes in federal, state or foreign tax laws; regulatory requirements that could delay, deter or prevent a takeover attempt that stockholders might consider in their best interests; and the impact of potential changes in accounting principles and related financial reporting requirements.

Any forward-looking statement made by the Company in this document speaks only as of the date of this release. Factors or events that could cause the Company’s actual results to differ may emerge from time to time, and it is not possible for the Company to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise.

Evergreen Capital Management LLC grew its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG – Free Report) by 136.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,168 shares of the insurance provider’s stock after purchasing an additional 5,288 shares during the period. Evergreen Capital Management LLC’s holdings in The Hartford Insurance Group were worth $1,267,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in The Hartford Insurance Group by 0.4% during the third quarter. State Street Corp now owns 16,031,840 shares of the insurance provider’s stock worth $2,146,749,000 after purchasing an additional 55,983 shares in the last quarter. Invesco Ltd. lifted its stake in The Hartford Insurance Group by 10.3% during the third quarter. Invesco Ltd. now owns 5,331,293 shares of the insurance provider’s stock worth $711,141,000 after purchasing an additional 496,821 shares in the last quarter. Nordea Investment Management AB lifted its stake in The Hartford Insurance Group by 1.9% during the fourth quarter. Nordea Investment Management AB now owns 4,389,329 shares of the insurance provider’s stock worth $606,956,000 after purchasing an additional 81,712 shares in the last quarter. Franklin Resources Inc. lifted its stake in The Hartford Insurance Group by 3.3% during the third quarter. Franklin Resources Inc. now owns 3,376,931 shares of the insurance provider’s stock worth $450,449,000 after purchasing an additional 108,765 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in The Hartford Insurance Group by 7.5% during the second quarter. Bank of America Corp DE now owns 3,281,825 shares of the insurance provider’s stock worth $416,365,000 after purchasing an additional 228,780 shares in the last quarter. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In A number of research analysts have commented on the company. Roth Mkm upped their price target on The Hartford Insurance Group from $120.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday, January 30th. Bank of America upped their price target on The Hartford Insurance Group from $136.00 to $138.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 14th. JPMorgan Chase & Co. upped their price target on The Hartford Insurance Group from $143.00 to $146.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 7th. Morgan Stanley upped their price target on The Hartford Insurance Group from $140.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 3rd. Finally, Barclays decreased their price target on The Hartford Insurance Group from $162.00 to $159.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 8th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $149.56.

Read Our Latest Research Report on The Hartford Insurance Group

Insiders Place Their Bets In other The Hartford Insurance Group news, CEO Christopher Swift sold 100,970 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $140.78, for a total value of $14,214,556.60. Following the sale, the chief executive officer directly owned 194,817 shares in the company, valued at $27,426,337.26. This trade represents a 34.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lori A. Rodden sold 40,693 shares of the firm’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $138.05, for a total value of $5,617,668.65. Following the completion of the sale, the executive vice president owned 25,392 shares in the company, valued at approximately $3,505,365.60. This represents a 61.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 349,282 shares of company stock worth $48,184,324. 1.50% of the stock is owned by insiders.

The Hartford Insurance Group Stock Up 1.2% The Hartford Insurance Group stock opened at $139.78 on Friday. The Hartford Insurance Group, Inc. has a 1-year low of $116.66 and a 1-year high of $144.50. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.31 and a quick ratio of 0.31. The stock has a market cap of $38.56 billion, a PE ratio of 10.48, a P/E/G ratio of 1.29 and a beta of 0.53. The stock’s fifty day moving average is $137.79 and its two-hundred day moving average is $134.73.

The Hartford Insurance Group (NYSE:HIG – Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share for the quarter, missing analysts’ consensus estimates of $3.39 by ($0.30). The Hartford Insurance Group had a net margin of 13.52% and a return on equity of 21.92%. The business had revenue of $14.45 billion during the quarter, compared to analyst estimates of $7.41 billion. During the same quarter in the prior year, the business earned $2.20 earnings per share. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. On average, sell-side analysts expect that The Hartford Insurance Group, Inc. will post 13.39 EPS for the current fiscal year.

The Hartford Insurance Group Announces Dividend The firm also recently declared a quarterly dividend, which was paid on Thursday, April 2nd. Shareholders of record on Monday, March 2nd were paid a $0.60 dividend. The ex-dividend date was Monday, March 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 1.7%. The Hartford Insurance Group’s dividend payout ratio (DPR) is currently 17.99%.

About The Hartford Insurance Group (Free Report)

The Hartford Financial Services Group, commonly known as The Hartford, is a U.S.-based insurance and investment company that provides a broad range of commercial and personal insurance products and employee benefits. Its core businesses include property and casualty insurance for businesses and individuals, group benefits such as group life, disability and dental plans, and retirement and investment solutions offered through affiliated asset-management operations. The company also delivers risk management, claims-handling and loss-prevention services designed to support policyholders across a variety of industries.

Founded in Hartford, Connecticut, in 1810, The Hartford is one of the oldest insurance organizations in the United States and has a long history of underwriting and product development across multiple insurance lines.

Further Reading Five stocks we like better than The Hartford Insurance Group

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Key Takeaways HIG Q1 core EPS rose 40.5% to $3.09 but missed estimates as revenues also came in light.Business Insurance premiums rise 6%, while Employee Benefits margins fell on staffing and tech costs.HIG's Personal Insurance core earnings surged to $141M as the combined ratio improved to 87.7 from 106.1. The Hartford Insurance Group, Inc. (HIG - Free Report) posted first-quarter fiscal 2026 core earnings per share of $3.09, up 40.5% from $2.20 in the prior-year quarter. The figure missed the Zacks Consensus Estimate of $3.29 by 6.1%.

Operating revenues came in at $5.09 billion, up 7% year over year, but missed the consensus mark by 2.1%.

The weaker-than-expected results were caused by less favorable prior-year reserve development, higher expenses and pressure in Employee Benefits. The negatives were partially offset by high demand for expensive risk events, stronger investment income and a massive turnaround in Personal Insurance.

HIG currently carries a Zacks Rank #3 (Hold). 

HIG’s Q1 OperationsEarned premiums amounted to $6.1 billion, which advanced 5.3% year over year but fell short of the Zacks Consensus Estimate by 0.9%. Net income available to common stockholders increased 36.2% year over year to $851 million.

Net investment income increased to $739 million, from $656 million in the year-ago period and beat the consensus mark by 0.5%. Management attributed the gain primarily to higher income from limited partnerships and other alternative investments, increased invested assets and reinvestments at higher rates.

Total benefits, losses and expenses of $6.2 billion increased 2.4% year over year due to higher amortization of DAC and insurance operating expenses.

P&C current accident year catastrophe losses were $230 million, before tax, compared with $467 million a year ago.

HIG’s Segmental UpdateBusiness Insurance Grew PremiumsBusiness Insurance written premiums rose 6% year over year to $3.9 billion, supported by growth across the segment. Core earnings expanded 17% to $551 million, reflecting earned premium growth and higher net investment income. Profitability was steady on the surface, with the combined ratio at 94.8 versus 94.4 in the prior-year quarter, but came above the consensus mark of 91.4.

Personal Insurance Posted a Sharp TurnaroundPersonal Insurance results stood out for the magnitude of underwriting improvement. Core earnings climbed to $141 million from $6 million a year ago, while the segment’s combined ratio improved to 87.7 from 106.1 and was lower than the Zacks Consensus Estimate of 94.4. Personal Insurance written premiums were $862 million, down 6% from the prior-year quarter, which management tied to a competitive market, even as earned pricing increases supported earned premium trends.

P&C Other Ops Remained StableRevenues in the unit improved 5.6% year over year to $19 million and met the consensus mark. On a core basis, P&C Other Operations earned $14 million versus $13 million a year ago.

Employee Benefits Faced Higher CostsEmployee Benefits generated core earnings of $127 million versus $136 million a year ago. The segment’s core earnings margin was 6.9% in the quarter, down from 7.6% a year ago. The unit’s expense ratio increased to 26.7% from 25.4% in the prior-year quarter and came above the consensus estimate of 25.8, driven by higher staffing costs and higher technology costs. The segment’s loss ratio was 71.7 compared with 71.9 a year ago, as improvement in group life was partially offset by a higher group disability loss ratio.

Hartford Funds Added SupportHartford Funds provided growth, supported by higher fee income. The segment generated revenues of $285 million, up from $264 million a year ago, but missed the Zacks Consensus Estimate by 2.5%. Core earnings increased to $51 million from $44 million. The segment’s daily average assets under management totaled $156 billion, up 10% year over year.

CorporateThe unit posted revenues of $14 million, which jumped from $7 million a year ago, but missed the estimate by 48.1%. The unit incurred a core loss of $18 million, narrower than the year-ago quarter’s loss of $31 million.

Financial Update (as of March 31, 2026)Hartford exited the first quarter with cash of $166 million, which increased from the 2025-end level of $133 million. Total investments of $63.7 billion decreased from the 2025-end figure of $64 billion. Total assets of $86.3 billion grew from $86 billion at 2025-end.

Debt amounted to $4.4 billion, which inched up marginally from the figure as of Dec. 31, 2025.

Total stockholders’ equity marginally decreased to $18.9 billion. Book value per diluted share excluding AOCI increased to $75.25 from $73.62 at 2025-end.

Operating cash flow was above $1 billion in the first quarter, compared with $985 million in the year-ago period.

Capital Deployment UpdateThe company returned $617 million to stockholders, including $450 million of share repurchases and $167 million in common stockholder dividends paid. As of March 31, 2026, it had $1.1 billion left in the buyback program.

How Are Other Insurers Placed This Quarter?Peers like Slide Insurance Holdings, Inc. (SLDE - Free Report) , TWFG, Inc. (TWFG - Free Report) and Arthur J. Gallagher & Co. (AJG - Free Report) are yet to report results for this earnings season.

The Zacks Consensus Estimate for Slide Insurance’s earnings for the to-be-reported quarter of 82 cents per share remained stable over the past week. SLDE’s revenues are pegged at $373.16 million for the quarter. It currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for TWFG’s earnings for the to-be-reported quarter is pegged at 20 cents per share, signaling 25% year-over-year growth. TWFG’s earnings beat estimates in each of the past four quarters, with an average surprise of 26.4%. It has a Zacks Rank of 1 now.

The Zacks Consensus Estimate for Arthur J. Gallagher’s earnings for the to-be-reported quarter is pegged at $4.40 per share, indicating 19.9% year-over-year growth. AJG’s revenues are pegged at $4.65 billion, signaling 26.3% year-over-year jump. It currently has a Zacks Rank #3.

Posted by Defense World Staff on Apr 26th, 2026

Arizona State Retirement System decreased its stake in The Hartford Insurance Group, Inc. (NYSE:HIG – Free Report) by 8.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 77,029 shares of the insurance provider’s stock after selling 6,918 shares during the period. Arizona State Retirement System’s holdings in The Hartford Insurance Group were worth $10,615,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Geneos Wealth Management Inc. boosted its stake in The Hartford Insurance Group by 2.7% during the 4th quarter. Geneos Wealth Management Inc. now owns 12,146 shares of the insurance provider’s stock worth $1,674,000 after purchasing an additional 316 shares during the period. Diversified Enterprises LLC boosted its stake in The Hartford Insurance Group by 30.8% during the 4th quarter. Diversified Enterprises LLC now owns 2,145 shares of the insurance provider’s stock worth $296,000 after purchasing an additional 505 shares during the period. Quent Long Short Global Small Cap Fund LP acquired a new stake in The Hartford Insurance Group during the 4th quarter worth $235,000. Turtle Creek Wealth Advisors LLC acquired a new stake in The Hartford Insurance Group during the 4th quarter worth $255,000. Finally, OLD National Bancorp IN boosted its stake in The Hartford Insurance Group by 111.3% during the 4th quarter. OLD National Bancorp IN now owns 3,328 shares of the insurance provider’s stock worth $459,000 after purchasing an additional 1,753 shares during the period. Institutional investors and hedge funds own 93.42% of the company’s stock.

Insider Transactions at The Hartford Insurance Group In other The Hartford Insurance Group news, CEO Christopher Swift sold 201,938 shares of the stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $136.41, for a total value of $27,546,362.58. Following the completion of the transaction, the chief executive officer directly owned 194,817 shares of the company’s stock, valued at approximately $26,574,986.97. This trade represents a 50.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Lori A. Rodden sold 40,693 shares of the stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $138.05, for a total transaction of $5,617,668.65. Following the completion of the transaction, the executive vice president directly owned 25,392 shares of the company’s stock, valued at approximately $3,505,365.60. This trade represents a 61.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 349,282 shares of company stock valued at $48,184,324 in the last quarter. Insiders own 1.50% of the company’s stock.

The Hartford Insurance Group Stock Down 3.6% The Hartford Insurance Group stock opened at $134.64 on Friday. The stock’s 50 day moving average price is $137.66 and its 200 day moving average price is $134.75. The Hartford Insurance Group, Inc. has a 1-year low of $116.66 and a 1-year high of $144.50. The company has a market cap of $37.14 billion, a PE ratio of 9.46, a price-to-earnings-growth ratio of 1.30 and a beta of 0.53. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.31 and a quick ratio of 0.31.

The Hartford Insurance Group (NYSE:HIG – Get Free Report) last released its earnings results on Thursday, April 23rd. The insurance provider reported $3.09 EPS for the quarter, missing analysts’ consensus estimates of $3.39 by ($0.30). The business had revenue of $14.45 billion during the quarter, compared to analyst estimates of $7.41 billion. The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.70%. The Hartford Insurance Group’s revenue was up 6.1% compared to the same quarter last year. During the same period last year, the business posted $2.20 EPS. On average, sell-side analysts predict that The Hartford Insurance Group, Inc. will post 13.39 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement The business also recently declared a quarterly dividend, which was paid on Thursday, April 2nd. Stockholders of record on Monday, March 2nd were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Monday, March 2nd. The Hartford Insurance Group’s dividend payout ratio (DPR) is currently 16.87%.

Analyst Ratings Changes A number of analysts recently weighed in on HIG shares. Evercore increased their price target on shares of The Hartford Insurance Group from $137.00 to $145.00 and gave the stock an “in-line” rating in a research note on Wednesday, January 7th. Bank of America increased their price target on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 14th. Barclays decreased their price target on shares of The Hartford Insurance Group from $159.00 to $156.00 and set an “overweight” rating for the company in a research note on Friday. Morgan Stanley increased their price target on The Hartford Insurance Group from $140.00 to $142.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 3rd. Finally, Roth Mkm lifted their price objective on shares of The Hartford Insurance Group from $120.00 to $135.00 and gave the company a “neutral” rating in a research report on Friday, January 30th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $149.38.

Read Our Latest Stock Report on HIG

The Hartford Insurance Group News Roundup Here are the key news stories impacting The Hartford Insurance Group this week:

Positive Sentiment: Management set a clear operational target for Business Insurance — an expense ratio below 30% by end‑of‑2027 — and is planning to operate in 30 agency states by early 2027, which could boost underwriting leverage and distribution reach over time. Read More. Positive Sentiment: The company reported strong core earnings of $866M and management emphasized underwriting discipline and momentum, highlighting underlying profitability that supports the long‑term thesis. Read More. Positive Sentiment: Barclays trimmed its price target slightly (from $159 to $156) but kept an Overweight rating, signaling continued analyst confidence in upside despite the quarter’s noise. Read More. Neutral Sentiment: The full Q1 earnings call transcript and slide deck are available for detail on reserve assumptions, investment income, and segment performance — useful for investors evaluating whether the EPS miss is one‑off or structural. Read More. Neutral Sentiment: Quarterly metrics comparisons and analyst write‑ups provide additional context on revenue mix and ROE trends; these help determine whether the stock’s valuation (P/E ~9.5) now offers a buying opportunity. Read More. Negative Sentiment: Reported EPS of $3.09 missed the Street ($3.39) — the miss and higher reported costs prompted investor concern and selling pressure despite higher revenue and rising investment income. Read More. Negative Sentiment: Analysts and outlets called out higher operating costs and weaker reserve development as the primary drivers offsetting Personal Insurance gains and investment income — these items pose near‑term earnings risk until clarified. Read More. The Hartford Insurance Group Company Profile (Free Report)

The Hartford Financial Services Group, commonly known as The Hartford, is a U.S.-based insurance and investment company that provides a broad range of commercial and personal insurance products and employee benefits. Its core businesses include property and casualty insurance for businesses and individuals, group benefits such as group life, disability and dental plans, and retirement and investment solutions offered through affiliated asset-management operations. The company also delivers risk management, claims-handling and loss-prevention services designed to support policyholders across a variety of industries.

Founded in Hartford, Connecticut, in 1810, The Hartford is one of the oldest insurance organizations in the United States and has a long history of underwriting and product development across multiple insurance lines.

Featured Stories Five stocks we like better than The Hartford Insurance Group Want to see what other hedge funds are holding HIG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Hartford Insurance Group, Inc. (NYSE:HIG – Free Report).

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HARTFORD, Conn.--(BUSINESS WIRE)--The Hartford will host a virtual annual meeting of shareholders at 12:30 p.m. EDT on Wednesday, May 20.

Shareholders of record at the close of business on March 23, 2026, or their legal proxy holders, are entitled to attend the meeting, vote shares and submit questions at www.virtualshareholdermeeting.com/HIG2026. To be admitted, shareholders must enter the 16-digit control number found on the proxy card, voter instruction form or notice that they previously received. Guests without a control number may also attend the meeting but will not be permitted to vote or submit questions. Shareholders of record may also vote or submit questions in advance of the meeting at www.proxyvote.com using their 16-digit control number.

A replay of the meeting will be available for 30 days following the event at https://ir.thehartford.com. A copy of the 2026 proxy statement and additional information regarding the annual meeting are available on the investor relations section of the company’s website.

About The Hartford

The Hartford is a leader in property and casualty insurance, employee benefits and mutual funds. With more than 200 years of expertise, The Hartford is widely recognized for its service excellence, sustainability practices, trust and integrity. More information on the company and its financial performance is available at https://www.thehartford.com.

The Hartford Insurance Group, Inc., (NYSE: HIG) operates through its subsidiaries under the brand name, The Hartford, and is headquartered in Hartford, Connecticut. For additional details, please read The Hartford’s legal notice.

HIG-C

Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Investors should consider the important risks and uncertainties that may cause actual results to differ. These important risks and uncertainties include those discussed in our 2025 Annual Report on Form 10-K, subsequent Quarterly Reports on Forms 10-Q, and the other filings we make with the Securities and Exchange Commission. We assume no obligation to update this release, which speaks as of the date issued.

From time to time, The Hartford may use its website and/or social media channels to disseminate material company information. Financial and other important information regarding The Hartford is routinely accessible through and posted on our website at https://ir.thehartford.com. In addition, you may automatically receive email alerts and other information about The Hartford when you enroll your email address by visiting the “Email Alerts” section at https://ir.thehartford.com.

More News From The Hartford

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HARTFORD, Conn.--(BUSINESS WIRE)--The Hartford’s Board of Directors declared a dividend of $0.60 per share of common stock, payable July 2 to common stock shareholders of record at the close of business on June 1.

The board also declared a dividend of $375 on each of the shares of the Series G preferred stock (equivalent to $0.375 per depository share), payable Aug. 17 to Series G preferred stock shareholders of record at the close of business on Aug. 3.

About The Hartford

The Hartford is a leader in property and casualty insurance, employee benefits and mutual funds. With more than 200 years of expertise, The Hartford is widely recognized for its service excellence, sustainability practices, trust and integrity. More information on the company and its financial performance is available at https://www.thehartford.com.

The Hartford Insurance Group, Inc., (NYSE: HIG) operates through its subsidiaries under the brand name, The Hartford, and is headquartered in Hartford, Connecticut. For additional details, please read The Hartford’s legal notice.

HIG-F

Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Investors should consider the important risks and uncertainties that may cause actual results to differ. These important risks and uncertainties include those discussed in our 2025 Annual Report on Form 10-K, subsequent Quarterly Reports on Forms 10-Q, and the other filings we make with the Securities and Exchange Commission. We assume no obligation to update this release, which speaks as of the date issued.

From time to time, The Hartford may use its website and/or social media channels to disseminate material company information. Financial and other important information regarding The Hartford is routinely accessible through and posted on our website at https://ir.thehartford.com. In addition, you may automatically receive email alerts and other information about The Hartford when you enroll your email address by visiting the “Email Alerts” section at https://ir.thehartford.com.

More News From The Hartford

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Evolution of long-standing strategic partnership creates single full-service firm with robust U.S. Wealth business, integrating investment management, distribution and servicing capabilities

Expected net present value of the transaction estimated to be $1.9 billion1

BOSTON & HARTFORD, Conn.--(BUSINESS WIRE)--Wellington Management (“Wellington”), one of the world’s leading independent investment managers, and The Hartford (NYSE: HIG), today announced they have entered into a definitive agreement under which Wellington will acquire Hartford Funds, a leading provider of investment solutions for the wealth management market. Upon closing, Hartford Funds will be integrated into Wellington’s U.S. Wealth business and going forward the business will operate under the Wellington brand.

This transaction will allow Wellington to offer financial advisors and investors broader access to investment capabilities, a deeper distribution platform, and more integrated support across the U.S. wealth management landscape. This will be achieved by combining Wellington’s global institutional investment expertise with Hartford Funds’ established advisor relationships. This acquisition transforms the companies’ long-term, strategic partnership into a single, full-service firm that can deliver stronger outcomes for financial advisors and investors in the decades ahead. The combined organization will be a stronger independent investment manager well-positioned to compete as the industry continues to evolve.

Jean Hynes, CEO and managing partner at Wellington Management, said, “For more than 40 years, Wellington and Hartford Funds have partnered together in support of advisors and investors, and I’m excited about what this combination means for the future of both organizations. Wellington’s nearly century-long investment heritage is underscored by a deep commitment to supporting advisors, investors, and employees, and I know that the Hartford Funds team shares this commitment. Together, we are building on the strengths that have defined our relationship to reinforce our commitment to the U.S. wealth market through expanded access to investment capabilities, broader distribution reach, and enhanced resources for advisors and investors. I look forward to continuing to build on the strengths that have defined our partnership together in the years ahead.”

The Hartford’s Chairman and CEO Christopher Swift said, “We are proud of the strong advisor-centric fund company that we have built, powered by Wellington’s outstanding investment capabilities for many years. This transaction allows us to realize immediate and continued value for The Hartford’s shareholders and positions Hartford Funds’ exceptional people for ongoing success. This combination creates the ideal long-term home for Hartford Funds.”

A Four-Decade Strategic Partnership

Wellington and Hartford Funds share a deep partnership that spans more than four decades, built on a consistent focus of delivering strong outcomes for financial advisors and investors. The relationship began in 1978 and formally evolved in 1984 with the launch of a long-standing sub-advisory partnership across mutual funds. Since then, the partnership has broadened to include new capabilities such as ETFs and additional investment strategies, reflecting a shared commitment to innovation and growth. Today, Wellington sub-advises 83% of Hartford Funds’ approximately $160 billion in assets, supported by a 160-plus-person client-facing team with deep experience representing Wellington’s investment platform.

Strategic and Operational Benefits of Transaction

A Single, Integrated Full-Service Platform: The transaction will combine Wellington’s institutional investment expertise and nearly century-long investment heritage with Hartford Funds’ scaled advisor distribution platform and deep intermediary relationships. The result will be a stronger, strategically aligned U.S. wealth platform spanning investment management, distribution and servicing. Expanded Capabilities and Solutions for Advisors and Investors: As a single, integrated platform, Wellington will provide advisors with broader access to investment strategies and solutions across mutual funds, ETFs, SMAs, models, and alternative investments, supported by deeper insights, expanded capabilities, and enhanced service resources designed to help advisors meet clients’ evolving needs. Positioned for Long-Term Growth: By operating as a single full-service firm, Wellington will drive long-term growth across the wealth market through expanded access to investment capabilities, a scaled advisor distribution platform, and extended market reach. The combined organization will include approximately 200 client-facing professionals delivering broader solutions, more coordinated support, and a simpler, more cohesive experience for advisors and their clients. Christina Kopec Rooney, head of U.S. Wealth at Wellington Management, commented, “This combination sharpens our competitive edge and value to advisors and our clients — uniting Wellington’s investment capabilities and global wealth and institutional experience with Hartford Funds’ U.S. distribution scale and trusted team. I am excited by our collective strengths and the potential to innovate and deliver world-class investment solutions, deeper insights, and expanded access to Wellington, including alternatives — a compelling union after decades of close partnership.”

Greg Frost, president of Hartford Funds, said, “Hartford Funds’ and Wellington’s partnership is rooted in shared values, organizational alignment and a focus on delivering investment excellence for advisors and investors. We are excited to become part of a single, integrated Wellington platform and believe this combination represents not only continuity for our clients and teams, but also a reaffirmation of our shared investment philosophy. We look forward to working together to build on our history and create new opportunities for growth and innovation.”

Transaction Terms

The net present value of the transaction is estimated to be $1.9 billion. Under the agreement, The Hartford will receive $300 million in cash at closing and additional payments based on the available after-tax cash generated by the combination of Hartford Funds’ business and Wellington’s business supporting Hartford Funds, including the sale of certain other Wellington-sponsored products in the U.S. wealth market, over 7 years2 following the close of the transaction. The deal is expected to close in the first quarter of 2027, subject to regulatory and fund approvals.

Advisors

J.P. Morgan Securities LLC is acting as financial advisor to Wellington, with Paul, Weiss, Rifkind, Wharton & Garrison LLP acting as the company’s legal advisor. Goldman Sachs & Co. LLC is acting as financial advisor to The Hartford, with Weil, Gotshal & Manges LLP as the company’s legal advisor.

About Wellington Management

Wellington Management is one of the world’s largest independent investment management firms, serving as a trusted advisor to over 2,500 clients in more than 60 countries. The firm manages more than $1.35 trillion, as of April 30, 2026, for fund sponsors, global wealth managers, family offices, pensions, endowments and foundations, insurers, and other clients. Wellington aspires to provide excellent service to clients through a unique combination of independence enabled by its distinctive private partnership model, diverse perspectives through its unified, multi-asset investment platform, and relentless curiosity and intellectual rigor fostered by its enduring collaborative culture. For more information, visit wellington.com.

About The Hartford

The Hartford is a leader in property and casualty insurance and employee benefits. With more than 200 years of expertise, The Hartford is widely recognized for its service excellence, sustainability practices, trust and integrity. More information on the company and its financial performance is available at https://www.thehartford.com.

The Hartford Insurance Group, Inc., (NYSE: HIG) operates through its subsidiaries under the brand name, The Hartford, and is headquartered in Hartford, Connecticut. For additional details, please read The Hartford’s legal notice: https://www.thehartford.com/legal-notice.

From time to time, The Hartford may use its website and/or social media channels to disseminate material company information. Financial and other important information regarding The Hartford is routinely accessible through and posted on our website at https://ir.thehartford.com.

About Hartford Funds

Hartford Funds offers mutual funds, ETFs and 529 college savings plans built for diverse client needs. Excluding affiliated funds of funds, Hartford Funds’ investment advisory business had approximately $160.2 billion in discretionary and non-discretionary assets under management as of April 30, 2026. Through the firm’s systematic capabilities and deep, strategic relationships with our active management sub-advisors, Wellington Management and Schroders – two of the largest and longest-standing institutional investment managers in the world – Hartford Funds is committed to designing an investment platform clients can trust. The firm’s comprehensive product suite comprises actively managed strategies, including fixed income, equity and multi-strategy options, as well as a line-up of systematic ETFs that leverage a proprietary risk-optimized indexing approach. Beyond investments, Hartford Funds has partnerships with institutions like the MIT AgeLab and other leading experts to help investors navigate longevity and enhance quality of life, while supporting financial professionals as they deepen relationships with clients. For more information, visit hartfordfunds.com.

This release may contain statements deemed to be forward-looking statements. All statements, other than historical facts, contained within this document that address activities, events or developments that Wellington Management or The Hartford expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on assumptions and analysis made by Wellington Management and The Hartford in light of their respective experience and perception of historical trends, current conditions, expected future developments and other factors they believe are appropriate in the circumstances, which may be detailed herein. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond Wellington Management’s and The Hartford’s control. Please note that any such statements are not guarantees of any future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. In addition, forward-looking statements made by The Hartford are intended to qualify for the safe harbor protections of the Private Securities Litigation Reform Act of 1995. Investors should consider the important risks and uncertainties that may cause actual results to differ materially, including those discussed in The Hartford’s 2025 Annual Report on Form 10-K, subsequent Quarterly Reports on Forms 10-Q, and other filings The Hartford makes with the Securities and Exchange Commission. Neither Wellington Management nor The Hartford undertakes any obligation to update any forward-looking statements contained in this release, which speak only as of the date issued.

1 Calculated at a discount rate of 11% and subject to market and operating performance.

2 The 7-year period may be reduced or extended based on agreed upon performance thresholds.

Key Takeaways HIG agreed to sell Hartford Funds to Wellington in a deal with an estimated net present value of $1.9B.The Hartford will receive $300M at closing plus payments tied to future cash flows over seven years.Hartford Funds, with about $160B AUM, will join Wellington's U.S. Wealth business after approvals. The Hartford Insurance Group, Inc. (HIG - Free Report) has agreed to sell Hartford Funds to its long-time partner, Wellington Management, in a deal with an estimated net present value of $1.9 billion. The deal extends a partnership spanning more than four decades and will integrate Hartford Funds into Wellington's U.S. Wealth business under the Wellington brand.

Under the agreement, HIG will receive $300 million in cash at closing, along with additional payments tied to the after-tax cash generated by the combined wealth-management business over the next seven years. The transaction is expected to be closed in the first quarter of 2027, subject to regulatory and fund approvals.

The sale also reflects the close relationship between the two firms. Management believes Hartford Funds will benefit from being part of a larger integrated wealth platform. Wellington already sub-advises approximately 83% of Hartford Funds' assets. With roughly $160 billion in assets under management, Hartford Funds has been a significant part of the partnership, making full integration a logical next step.

The move aligns with The Hartford's strategy of increasing its focus on core insurance operations while unlocking value from its asset-management business. HIG's strong operating performance provides a solid foundation for the transaction. Core earnings rose 34% year over year to $866 million in first-quarter 2026, benefiting from increased investment income. Additionally, its trailing 12-month core return on equity of 22.5% compared favorably with the industry average of 7.4%

The transaction enhances capital flexibility and provides an additional source of future cash flows. By divesting the retail asset-management business, HIG can allocate more resources to its core business segments while continuing to participate in the growth potential of the combined wealth platform through the seven-year cash-participation arrangement. The deal simplifies the company's business mix and strengthens its focus on its core insurance franchises.

HIG’s Stock Price PerformanceShares of HIG have lost 1.6% over the past year compared with the industry’s 5.3% decline.

Image Source: Zacks Investment Research

HIG’s Zacks Rank & Key PicksHIG currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader Finance space are Mercury General Corporation (MCY - Free Report) , The Hanover Insurance Group, Inc. (THG - Free Report) and First American Financial Corporation (FAF - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Mercury General’s 2026 earnings is pegged at $11.38 per share, indicating 44.1% year-over-year growth. MCY has witnessed one upward revision in the past 30 days, with no movement in the opposite direction. The consensus estimate for 2026 revenues is pinned at $6.4 billion, implying 8.5% year-over-year growth.

The Zacks Consensus Estimate for Hanover Insurance’s 2026 earnings is pegged at $18.36 per share, which has witnessed two upward revisions in the past 30 days, with no movement in the opposite direction. THG beat earnings estimates in each of the trailing four quarters, with the average surprise being 28.5%. The consensus estimate for 2026 revenues is pinned at $6.95 billion, implying 4.7% year-over-year growth.

The Zacks Consensus Estimate for First American’s 2026 earnings is pegged at $6.81 per share, indicating 12.6% year-over-year growth. FAF beat earnings estimates in each of the trailing four quarters, with the average surprise being 22%. The consensus estimate for 2026 revenues is pinned at $8.06 billion, implying 8.1% year-over-year growth.

On February 17, 2026, EVR Research disclosed a new position in Ingevity (NGVT +2.95%), acquiring 100,000 shares worth $5.92 million.

What happenedIn a U.S. Securities and Exchange Commission (SEC) filing dated February 17, 2026, EVR Research reported initiating a new position in Ingevity by purchasing 100,000 shares during the fourth quarter. The fund's quarter-end position in NGVT was valued at $5.92 million, reflecting the full size of the new stake.

What else to knowThis was a new position for the fund, representing 3.19% of its $185.31 million in reportable U.S. equity assets as of December 31, 2025.Top holdings after the filing:NYSE:DAN: $17.34 million (9.4% of AUM)NYSE:WKC: $17.34 million (9.4% of AUM)NYSE:CPS: $12.31 million (6.6% of AUM)NYSE:GEF: $11.85 million (6.4% of AUM)NYSE:MEC: $11.33 million (6.1% of AUM)As of Wednesday, Ingevity shares were priced at $68.56, up 56% over the past year and well outperforming the S&P 500’s roughly 19% gain in the same period.Company overviewMetricValuePrice (as of Monday)$68.56Market capitalization$2.5 billionRevenue (TTM)$1.17 billionNet income (TTM)($150.3 million)Company snapshotEVR Research produces specialty chemicals and activated carbon materials, with key products including hardwood-based activated carbon for emissions control and chemicals derived from crude tall oil and lignin.The company operates a dual-segment business model: Performance Materials generates revenue from engineered carbon products for automotive and industrial applications, while Performance Chemicals targets pavement technologies, industrial specialties, and engineered polymers.It serves automotive OEMs, industrial manufacturers, and infrastructure customers across North America, Asia Pacific, Europe, the Middle East, Africa, and South America.Ingevity is a specialty chemicals company with a global footprint and a focus on engineered carbon solutions and performance chemicals. The company leverages proprietary technologies to address emissions control, industrial processing, and infrastructure needs, supporting diverse end markets.

What this transaction means for investorsEVR Research just added targeted cyclical exposure at a time when investors are getting more selective about where growth actually shows up in the real economy. Within a portfolio already tilted toward industrial and materials names, this position fits cleanly alongside holdings tied to manufacturing, infrastructure, and auto demand, rather than high-multiple tech bets.

Ingevity’s activated carbon and specialty chemicals businesses are tied directly to emissions standards, infrastructure spending, and industrial production, which tend to hold up better than expected when economic momentum stabilizes, and the company’s recent performance reflects that, with shares up roughly 56% over the past year and comfortably beating the broader market. In its latest earnings report, Ingevity pointed to adjusted EBITDA of $373 million last year, which was consistent with 2024 levels despite broader uncertainty tied to tariffs and supply chain disruptions.

At just over 3% of assets, this isn’t quite a top holding, but it does suggest conviction in the stock. Ultimately, it seems this is a durable bet for an investor focused on just that.

Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

It has been about a month since the last earnings report for Ingevity (NGVT - Free Report) . Shares have added about 1.2% in that time frame, outperforming the S&P 500.

But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Ingevity due for a pullback? Well, first let's take a quick look at its most recent earnings report in order to get a better handle on the recent drivers for Ingevity Corporation before we dive into how investors and analysts have reacted as of late.

Ingevity Reports Losses in Q4, Missing Estimates, Revenues Dip Y/YIngevity recorded a fourth-quarter 2025 loss of $84.6 million, or a loss of $2.37 per share. This compared unfavorably with an income of $16.6 million or 46 cents per share in the year-ago quarter.

Excluding one-time items, adjusted earnings (from continuing operations) in the quarter were 58 cents per share, down from 95 cents a year ago. The figure missed the Zacks Consensus Estimate of 74 cents per share.

Revenues from continuing operations fell 3% year over year to $255.1 million in the quarter. This decline was due to lower sales in Advanced Polymer Technologies and Performance Materials.

Segmental ReviewThe Performance Chemicals division generated revenues of $67.4 million in the reported quarter, up around 6.5% year over year. Industrial Specialties’ product line was excluded. Road Technologies saw a volume growth, driven by an extended paving season. Earnings before interest, taxes, depreciation and amortization (EBITDA) for the segment declined to a negative $1.2 million as a result of competitive pricing pressure in Road Markings.

Revenues in the Performance Materials unit fell around 3% year over year to $151.2 million. This was a result of lower sales in North America from supply chain disruptions in the auto industry. Segment EBITDA was $78 million, down 4.5% year over year, impacted by lower global auto production driven by tariff uncertainty and supply chain challenges.

Sales in the Advanced Polymer Technologies segment were down 17% to $36.5 million due to dampened demand. Segment EBITDA was $5.5 million, down 21% due to lower volumes.

FinancialsThe fourth-quarter operating cash flow was $97.1 million, with free cash flow of $73.5 million. There were share repurchases of $31 million during the quarter, leaving $297 million remaining under the current share repurchase authorization. Net leverage improved to 2.6x from the previous quarter’s 2.7x.

OutlookIngevity expects full-year 2026 sales between $1.1 billion and $1.2 billion. Adjusted EBITDA guidance is between $380 million and $400 million, with adjusted EPS between $4.80 to $5.20. The company expects free cash flow between $225 million and $250 million in 2026.

How Have Estimates Been Moving Since Then?Analysts were quiet during the last two month period as none of them issued any earnings estimate revisions.

VGM ScoresAt this time, Ingevity has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with a D. Charting a somewhat similar path, the stock was allocated a score of C on the value side, putting it in the middle 20% for value investors.

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

Outlook Ingevity has a Zacks Rank #4 (Sell). We expect a below average return from the stock in the next few months.

Performance of an Industry PlayerIngevity belongs to the Zacks Chemical - Specialty industry. Another stock from the same industry, Celanese (CE - Free Report) , has gained 25.3% over the past month. More than a month has passed since the company reported results for the quarter ended December 2025.

Celanese reported revenues of $2.2 billion in the last reported quarter, representing a year-over-year change of -7%. EPS of $0.67 for the same period compares with $1.45 a year ago.

For the current quarter, Celanese is expected to post earnings of $0.81 per share, indicating a change of +42.1% from the year-ago quarter. The Zacks Consensus Estimate has changed -0.2% over the last 30 days.

Celanese has a Zacks Rank #5 (Strong Sell) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of C.

Posted by Defense World Staff on Apr 6th, 2026

Allspring Global Investments Holdings LLC bought a new stake in Ingevity Corporation (NYSE:NGVT – Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 134,517 shares of the company’s stock, valued at approximately $8,083,000. Allspring Global Investments Holdings LLC owned approximately 0.37% of Ingevity at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Ingevity by 311.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 600,380 shares of the company’s stock worth $23,769,000 after purchasing an additional 454,579 shares during the last quarter. Simcoe Capital Management LLC raised its position in shares of Ingevity by 188.8% during the 2nd quarter. Simcoe Capital Management LLC now owns 624,935 shares of the company’s stock valued at $26,928,000 after buying an additional 408,508 shares during the period. Boston Partners acquired a new stake in Ingevity during the third quarter worth $14,171,000. Harvey Partners LLC increased its stake in Ingevity by 59.6% during the second quarter. Harvey Partners LLC now owns 572,047 shares of the company’s stock worth $24,650,000 after acquiring an additional 213,547 shares during the last quarter. Finally, Marshall Wace LLP raised its position in Ingevity by 217.4% in the third quarter. Marshall Wace LLP now owns 228,201 shares of the company’s stock valued at $12,594,000 after purchasing an additional 156,301 shares during the period. 91.59% of the stock is owned by hedge funds and other institutional investors.

Ingevity Price Performance Shares of NGVT opened at $71.15 on Monday. The firm has a market capitalization of $2.51 billion, a price-to-earnings ratio of -15.30 and a beta of 1.27. The firm’s fifty day simple moving average is $69.73 and its 200-day simple moving average is $61.09. Ingevity Corporation has a twelve month low of $28.49 and a twelve month high of $77.46. The company has a current ratio of 1.33, a quick ratio of 0.79 and a debt-to-equity ratio of 39.10.

Ingevity (NYSE:NGVT – Get Free Report) last issued its earnings results on Wednesday, February 25th. The company reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.16). Ingevity had a positive return on equity of 126.25% and a negative net margin of 13.51%.The firm had revenue of $255.10 million for the quarter, compared to analyst estimates of $257.27 million. During the same quarter in the previous year, the firm posted $0.95 EPS. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. Ingevity has set its FY 2026 guidance at 4.800-5.20 EPS. Equities analysts forecast that Ingevity Corporation will post 4.45 EPS for the current fiscal year.

Analysts Set New Price Targets Several research analysts have weighed in on the stock. Wells Fargo & Company increased their target price on shares of Ingevity from $65.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, February 27th. Jefferies Financial Group restated a “buy” rating and issued a $82.00 price objective on shares of Ingevity in a report on Thursday, February 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ingevity in a research report on Thursday, January 22nd. Wall Street Zen lowered Ingevity from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Zacks Research upgraded Ingevity to a “hold” rating in a report on Tuesday, December 16th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Ingevity presently has a consensus rating of “Hold” and a consensus target price of $80.00.

View Our Latest Research Report on NGVT

About Ingevity (Free Report)

Ingevity Corporation, traded as NGVT, is a specialty chemicals and performance materials company headquartered in North Charleston, South Carolina. The company operates two primary business units: Performance Chemicals and Performance Materials. The Performance Chemicals segment produces and markets specialty chemicals derived largely from wood and other natural feedstocks, including rosin acids, tall oil fatty acids and esters, as well as specialty petroleum resins. These products serve a broad range of industries, including paper, adhesives, coatings, oilfield drilling and consumer goods.

The Performance Materials segment develops and manufactures activated carbon products and composites for applications such as automotive emissions control, industrial air and water purification, and spill containment.

Featured Stories Five stocks we like better than Ingevity Want to see what other hedge funds are holding NGVT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ingevity Corporation (NYSE:NGVT – Free Report).

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PITTSBURGH--(BUSINESS WIRE)--PPG (NYSE:PPG) today announced that it has completed the acquisition of Ozark Materials, LLC, a U.S.-based provider of pavement marking solutions, from Ingevity Corporation (NYSE:NGVT). The all-cash transaction includes a purchase price of $65 million, subject to customary adjustments.

Ozark Materials serves customers across the United States and Canada and has a strong reputation for quality, service and operational excellence. The company has approximately 130 employees and well-established customer relationships that align closely with PPG’s Traffic Solutions business.

“This acquisition strengthens our business by enhancing our ability to serve customers throughout North America with high-quality pavement marking solutions,” said Tom Maziarz, PPG vice president, Traffic Solutions. “Ozark Materials has strong operational capabilities and a team with deep industry experience. We look forward to integrating the business into PPG.”

This transaction advances PPG’s long-term strategy to expand its pavement marking business and bolster its ability to deliver innovative solutions for a broad range of public- and private-sector customers.

PPG: WE PROTECT AND BEAUTIFY THE WORLD®
At PPG (NYSE:PPG), we work every day to develop and deliver the paints, coatings and specialty products that our customers have trusted for more than 140 years. Through dedication and creativity, we solve our customers’ biggest challenges, collaborating closely to find the right path forward. With headquarters in Pittsburgh, we market and sell in more than 50 countries and reported net sales of $15.9 billion in 2025. We serve customers in construction, consumer products, industrial and transportation markets and aftermarkets. To learn more, visit www.ppg.com.

Forward-Looking Statements
The forward-looking statements contained herein include statements relating to the timing of and expected benefits of the Ozark Materials acquisition. Actual events may differ materially from current expectations and are subject to a number of risks and uncertainties, including the ability of PPG to achieve the expected benefits of the acquisition and the other risks and uncertainties discussed in PPG’s periodic reports on Form 10-K and Form 10-Q and its current reports on Form 8-K filed with the Securities and Exchange Commission.

The PPG Logo and We protect and beautify the world are registered trademarks of PPG Industries Ohio, Inc.

Key Takeaways Ingevity divests Ozark Materials road markings unit to PPG for about $65M in cash. NGVT aims to streamline portfolio and focus on higher-margin core segments. Proceeds will support strategic initiatives of NGVT and improve capital allocation efficiency. Ingevity Corporation (NGVT - Free Report) has announced the sale of its Ozark Materials road markings business to PPG Industries, Inc. (PPG - Free Report) for approximately $65 million in cash (subject to adjustments). This marks a strategic step for NGVT to streamline its portfolio and sharpen its focus on core operations.  

The divestiture is limited solely to Ingevity’s Ozark Materials road markings business. It reflects Ingevity’s ongoing efforts to prioritize higher-margin and growth-oriented businesses. Ozark Materials, which manufactures pavement marking materials used in road safety applications, will now become part of PPG’s traffic solutions portfolio.  

It will strengthen PPG’s position in the pavement marking solutions. The transaction is expected to improve NGVT’s overall business mix and capital allocation efficiency, while also reducing exposure to more cyclical and lower-margin activities.  

The company indicated that the proceeds from the sale will be reinvested in initiatives aligned with its long-term growth priorities. This move underscores Ingevity’s disciplined portfolio management and its commitment to enhancing shareholder value through focused execution. 

Shares of NGVT have skyrocketed 135% over the past year compared with the industry’s 10.6% growth. 

Image Source: Zacks Investment Research

NGVT’s Zacks Rank & Key PicksNGVT currently carries a Zacks Rank #4 (Sell).

Some better-ranked stocks in the Basic Materials space are Element Solutions Inc. (ESI - Free Report) and Hawkins, Inc. (HWKN - Free Report) . ESI and HWKN carry a Zacks Rank of #2 (Buy). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.

The Zacks Consensus Estimate for ESI’s current-year earnings stands at $1.76 per share, implying a 18.1% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 3.4%. 

The Zacks Consensus Estimate for HWKN’s current-year earnings is pegged at $3.95 per share, indicating a 2% year-over-year decrease. Its earnings beat the Zacks Consensus Estimate in two of the trailing four quarters while missing twice, with the average negative surprise being 1.5%. 

NORTH CHARLESTON, S.C.--(BUSINESS WIRE)--Ingevity Corporation (NYSE: NGVT) today reported its financial results for the first quarter of 2026.

The results and guidance in this release include non-GAAP financial measures. Additional information, including definitions and reconciliations to the most comparable GAAP measures, can be found in the section titled “Use of non‑GAAP financial measures.” Unless otherwise stated, all comparisons below are made versus the same period in 2025 and are presented on a continuing operations basis.

Full Company Results

Net sales of $258.0 million increased 4% driven primarily by annual pricing actions in Performance Materials and Pavement Technologies and favorable foreign exchange. The company reported net income from continuing operations of $23.4 million and diluted earnings per share (EPS) of $0.65, which includes $22.7 million of pre-tax special charges, inclusive of a $16.2 million charge related to the reimbursement of legal fees payable to BASF as part of the final settlement of the outstanding litigation. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) was similar to the prior year at $91.5 million, as pricing actions and higher volume were offset by weaker operating performance in the Performance Chemicals Road Markings product line, and lower asset utilization in the Advanced Polymer Technology segment. Adjusted earnings increased to $41.4 million and diluted EPS was $1.15 compared to $37.0 million and $1.01 in the prior year. First quarter adjusted EBITDA margin was 35.5% compared to 36.8% in the prior year.

“I am proud of our team’s strong execution in the face of macroeconomic volatility and rising energy costs. Closing both the Industrial Specialties and Road Markings divestitures early in the year was a significant achievement and enabled us to deploy $52 million in share repurchases ahead of our original plan. We are maintaining our full-year outlook and are encouraged by early trends and momentum at the start of the year,” said Ingevity President and CEO, Dave Li.

Segment Results

Performance Materials

Performance Materials grew sales 6% across most regions to $155.4 million. The higher sales were driven by annual pricing actions, favorable mix as a shift in consumer preferences from battery electric vehicles to hybrids continued, and an increase in volume. Segment EBITDA was up 10% to $92.0 million driven by improved price and mix, higher volume, and higher plant utilization in the quarter to build inventory ahead of planned outages in the second quarter, which more than offset higher SG&A and other expenses. Segment EBITDA margin improved 230 basis points to 59.2% compared to 56.9% in the prior year.

Performance Chemicals

Performance Chemicals sales, which include the Road Markings product line divested on April 15, 2026, were $58.3 million, similar to the prior year. Pavement Technologies sales were flat, as improvements in price and mix were offset by lower volumes. Sales in Road Markings declined 10 percent, driven by continued competitive pressure impacting volumes, while pricing remained stable. Segment EBITDA of $0.6 million declined $5.2 million from the prior year driven primarily by lower plant utilization in Road Markings compared to the first quarter of 2025. Segment EBITDA margin was 1.0% compared to 9.8% in the prior year.

Advanced Polymer Technologies

Advanced Polymer Technologies sales of $44.3 million increased 5% as favorable foreign exchange and higher volume more than offset decline in price due to unfavorable mix. Segment EBITDA for the quarter was $7.6 million compared to $13.6 million in the prior year due primarily to an inventory build in the first quarter of 2025, in anticipation of a material planned outage in the second quarter 2025. Segment EBITDA margin was 17.2% compared to 32.2% in the prior year.

Corporate and Other

Corporate and other expenses, which are not included in segment financial results, were $8.7 million, similar to the prior year. Indirect costs associated with the divested Industrial Specialties product line were zero compared to $3.2 million in the first quarter of 2025 as approximately one third of the costs were eliminated and the remaining costs were allocated to the business segments.

Liquidity/Other Continuing and Discontinued Operations

First quarter operating cash flow was negative $2.0 million, a decrease of $27.4 million versus the same quarter in 2025 as the business reverted to its historical seasonality, resulting in negative free cash flow of $12.3 million. First quarter of 2026 reflects a typical cadence of cash outflow from Pavement Technologies given the seasonality of the business, and an inventory build in Performance Materials ahead of planned outages in the second quarter. In 2025, the first quarter had an outsized contribution from a working capital benefit of approximately $15 million primarily related to inventory management within the divested Industrial Specialties product line.

Share repurchases totaled $52 million for the first quarter, with approximately $246 million available capacity remaining under the company's current share repurchase authorization. Net leverage held steady at 2.6 times versus the fourth quarter of 2025 and is down from 3.3 times versus the same quarter last year.

Full Year 2026 Outlook:

The company reaffirms full year 2026 guidance updated for the recently announced divestiture of Road Markings. It expects full year 2026 net sales between $1.05 billion and $1.15 billion, adjusted EBITDA between $370 million and $395 million, and adjusted EPS of $4.70 to $5.20. Free cash flow is expected to be between $215 million and $245 million, excluding $113.2 million in the pre-tax litigation settlement paid to BASF. The company intends to utilize the strong free cash flow to reduce leverage to within our long-term target range of 2.0-2.5 times and return cash to shareholders in 2026. The 2026 outlook includes full year financial results for Advanced Polymer Technologies but excludes the divested Industrial Specialties product line for the full year and the Road Markings product line beginning April 15, 2026.

Additional Information: The company will host a live webcast on Thursday, May 7, at 10:00 a.m. (Eastern) to discuss first quarter 2026 fiscal results. The webcast can be accessed via the Investor section of Ingevity’s website. Participants may pre-register for the event here.

Participants may also listen to the conference call by dialing 833 461 5787 (inside the U.S.) and entering access code 616645588. Callers outside the U.S. can find international dial-in numbers here. For those unable to join the live event, a recording will be available beginning at approximately 2:00 p.m. (Eastern) on May 7, 2026, through May 6, 2027, at this replay link.

Instructions for accessing the webcast and conference call, along with a slide deck containing relevant financial and statistical information, will be posted to the Investors section of Ingevity’s website after the company issues its earnings release on May 6, 2026.

Ingevity: Purify, Protect, Enhance

Ingevity (NYSE: NGVT) is a global specialty materials company that develops advanced carbon and engineered material solutions that improve mobility, strengthen and extend the life of infrastructure and enhance industrial processes. With a 90‑year legacy of innovation, we work closely with customers to solve technical challenges and deliver materials that improve performance and environmental outcomes in essential applications. Our portfolio includes Performance Materials activated carbon technologies for emissions control and filtration, Performance Chemicals solutions that support efficient agriculture and high‑performance pavement systems and Advanced Polymer Technologies specialty polymers for coatings and industrial applications. Headquartered in North Charleston, South Carolina, Ingevity operates from 17 locations worldwide and employs approximately 1,400 people. Learn more at ingevity.com.

Use of non-GAAP financial measures: This press release includes certain non‐GAAP financial measures intended to supplement, not substitute for, comparable GAAP measures. Reconciliations of non‐GAAP financial measures to GAAP financial measures are provided within the Appendix to this press release. Investors are urged to consider carefully the comparable GAAP measures and the reconciliations to those measures provided. The company does not attempt to provide reconciliations of forward-looking non-GAAP guidance to the comparable GAAP measure because the impact and timing of the factors underlying the guidance assumptions are inherently uncertain and difficult to predict and are unavailable without unreasonable efforts. In addition, Ingevity believes such reconciliations would imply a degree of certainty that could be confusing to investors.

Forward-looking statements: This press release contains “forward looking statements” within the meaning of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Such statements generally include the words “will,” “plans,” “intends,” “targets,” “expects,” “outlook,” “guidance,” “believes,” “anticipates” or similar expressions. Forward looking statements may include, without limitation, the potential benefits of any divestiture, acquisition or investment transaction, leadership transitions within our organization, expected financial positions, guidance, results of operations and cash flows; financing plans; business strategies and expectations; operating plans; capital and other expenditures; competitive positions; growth opportunities for existing products; benefits from new technology and cost reduction initiatives, plans and objectives; litigation-related strategies and outcomes; and markets for securities. Actual results could differ materially from the views expressed. Factors that could cause actual results to materially differ from those contained in the forward looking statements, or that could cause other forward looking statements to prove incorrect, include, without limitation, our ability to adjust our cost and operating structure after giving effect to the divestitures of our Industrial Specialties and Road Markings product lines; adverse effects from general global economic, geopolitical and financial conditions beyond our control, including inflation, global trade tensions, and the Russia-Ukraine war and conflict in the Middle East; risks related to our international sales and operations, including changes in tariffs; adverse conditions in the automotive market; competition from substitute products, new technologies and new or emerging competitors; worldwide air quality standards; a decrease in government infrastructure spending; adverse conditions in cyclical end markets; the limited supply of or lack of access to sufficient raw materials, or any material increase in the cost to acquire such raw materials; issues with or integration of future acquisitions and other investments; risks related to co-located operations; the provision of services by third parties at several facilities; supply chain disruptions; natural disasters and extreme weather events; or other unanticipated problems such as labor difficulties (including work stoppages), equipment failure or unscheduled maintenance and repair; planned and unplanned production slowdowns and shutdowns, turnarounds and outages, attracting and retaining key personnel; dependence on certain large customers; legal actions associated with our intellectual property rights; protection of our intellectual property and other proprietary information; information technology security breaches and other disruptions; complications with designing or implementing our new enterprise resource planning system; government policies and regulations, including, but not limited to, those affecting the environment, climate change, tax policies, tariffs and the chemicals industry; losses due to lawsuits arising out of environmental damage or personal injuries associated with chemical or other manufacturing processes; and the other factors detailed from time to time in the reports we file with the Securities and Exchange Commission (the “SEC”), including those described in Part I, Item 1A. Risk Factors in our most recent Annual Report on Form 10 K as well as in our other filings with the SEC. These forward-looking statements speak only to management’s beliefs as of the date of this press release. Ingevity assumes no obligation to provide any revisions to, or update, any projections and forward-looking statements contained in this press release.

INGEVITY CORPORATION

Condensed Consolidated Statements of Operations (Unaudited)

Three Months Ended March 31,

In millions, except per share data

2026

2025

Net sales

$

258.0

$

247.9

Cost of sales

141.6

136.0

Gross profit

116.4

111.9

Selling, general, and administrative expenses

40.7

41.9

Research and technical expenses

6.7

7.0

Restructuring and other (income) charges, net

0.5

1.9

Other (income) expense, net

22.4

4.1

Interest expense, net

15.9

19.4

Income (loss) from continuing operations before income taxes

30.2

37.6

Provision (benefit) for income taxes on continuing operations

6.8

8.5

Net income (loss) from continuing operations

23.4

29.1

Income (loss) from discontinued operations, net of income taxes

36.4

(8.6

)

Net income (loss)

$

59.8

$

20.5

Per share data

Basic earnings (loss) per share from continuing operations

$

0.66

$

0.80

Basic earnings (loss) per share from discontinued operations

1.04

(0.24

)

Basic earnings (loss) per share

$

1.70

$

0.56

Diluted earnings (loss) per share from continuing operations

$

0.65

$

0.79

Diluted earnings (loss) per share from discontinued operations

1.01

(0.23

)

Diluted earnings (loss) per share

$

1.66

$

0.56

Weighted average shares outstanding

Basic

35.3

36.4

Diluted

36.0

36.7

INGEVITY CORPORATION

Segment Operating Results (Unaudited)

Three Months Ended March 31,

In millions

2026

2025

Performance Materials

$

155.4

$

146.8

Performance Chemicals

58.3

58.9

Advanced Polymer Technologies

44.3

42.2

Net sales

$

258.0

$

247.9

Performance Materials

$

92.0

$

83.5

Performance Chemicals

0.6

5.8

Advanced Polymer Technologies

7.6

13.6

Segment EBITDA (1)

$

100.2

$

102.9

Interest expense, net

(15.9

)

(19.4

)

(Provision) benefit for income taxes on continuing operations

(6.8

)

(8.5

)

Depreciation and amortization (2)

(22.7

)

(24.5

)

Restructuring and other income (charges), net (3) (4)

(0.5

)

(1.9

)

Litigation charge (5)

(16.2

)

—

Impairment of license agreement (3) (6)

(2.8

)

—

Proxy contest charges (7)

—

(7.9

)

Portfolio realignment costs (8)

(3.2

)

—

Corporate and other (9)

(8.7

)

(8.4

)

Indirect costs allocated to Divestiture (10)

—

(3.2

)

Net income (loss) from continuing operations

$

23.4

$

29.1

Three Months Ended March 31,

In millions

2026

2025

Performance Materials

$

10.9

$

9.9

Performance Chemicals

3.5

5.9

Advanced Polymer Technologies

8.3

7.7

Indirect costs allocated to Divestiture (i)

—

1.0

Depreciation and amortization

$

22.7

$

24.5

  (i) Includes indirect costs previously allocated to the Divestiture that are not eligible for discontinued operations accounting treatment.

Three Months Ended March 31,

In millions

2026

2025

Performance Materials

$

0.5

$

—

Performance Chemicals

1.1

0.6

Advanced Polymer Technologies

(1.1

)

0.6

Indirect costs allocated to Divestiture

—

0.7

Restructuring and other (income) charges, net

$

0.5

$

1.9

(5) 

For information on our litigation charges please refer to Note 17, Commitments and Contingencies, in the Notes to the Consolidated Financial Statements included in the Company’s Form 10-K for the year ended December 31, 2025, filed on February 26, 2026. Updates will be provided in subsequent filings of the Company's Form 10-Q in 2026.

(6) 

Charge represents an impairment of a license agreement within our Performance Materials reportable segment.

(7) 

Charges represent legal and other professional service fees as well as incremental proxy solicitation costs related to a proxy contest.

(8) 

Charges represent professional service fees related to a review of the company's portfolio.

(9) 

Corporate and other costs is defined as costs associated with corporate administrative functions (e.g., executive office, corporate finance, legal, human resources) and other compliance costs to operate as a NYSE listed entity. Also includes corporate administrative function share of information technology, safety, health, accounting and human resource departments.

(10) 

Includes indirect costs previously allocated to the Divestiture that are not eligible for discontinued operations accounting treatment.

Three Months Ended March 31,

In millions

2026

2025

Cost of sales

$

—

$

2.5

Selling, general, and administrative expenses

—

0.7

Other (income) expense, net

—

—

Indirect costs allocated to Divestiture

$

—

$

3.2

INGEVITY CORPORATION

Condensed Consolidated Balance Sheets (Unaudited)

In millions

March 31, 2026

December 31, 2025

Assets

Cash and cash equivalents

$

95.4

$

78.1

Accounts receivable, net

151.2

127.2

Inventories, net

203.6

186.0

Restricted investment, net

85.1

—

Prepaid and other current assets

46.5

47.0

Current assets of discontinued operations

—

15.9

Current assets

581.8

454.2

Property, plant, and equipment, net

599.8

608.1

Goodwill

4.3

4.3

Other intangibles, net

168.0

176.1

Deferred income taxes

100.7

117.0

Restricted investment, net

—

84.4

Strategic investments

82.9

83.1

Other assets

112.7

104.4

Noncurrent assets of discontinued operations

—

19.5

Total Assets

$

1,650.2

$

1,651.1

Liabilities

Accounts payable

$

85.0

$

92.0

Accrued expenses

165.0

148.0

Notes payable and current maturities of long-term debt

121.9

47.1

Other current liabilities

37.5

51.1

Current liabilities of discontinued operations

—

3.1

Current liabilities

409.4

341.3

Long-term debt including finance lease obligations

1,082.4

1,161.4

Deferred income taxes

53.3

55.1

Other liabilities

66.2

62.9

Noncurrent liabilities of discontinued operations

—

0.7

Total Liabilities

1,611.3

1,621.4

Equity

38.9

29.7

Total Liabilities and Equity

$

1,650.2

$

1,651.1

INGEVITY CORPORATION

Condensed Consolidated Statements of Cash Flows (Unaudited)

Three Months Ended March 31,

In millions

2026 (1)

2025 (1)

Cash provided by (used in) operating activities:

Net income (loss)

$

59.8

$

20.5

Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities:

Depreciation and amortization

22.7

24.9

Restructuring and other (income) charges, net

8.3

12.3

Impairment of license agreement

2.8

—

(Gain) loss on sale of business

(55.6

)

—

Litigation charges

16.2

—

Other non-cash items

26.3

7.5

Changes in operating assets and liabilities, net of effect of divestitures:

Restructuring and other cash outflow, net

(8.6

)

(11.6

)

CTO resales cash inflow (outflow), net

—

6.2

Changes in other operating assets and liabilities, net

(73.9

)

(34.4

)

Net cash provided by (used in) operating activities

$

(2.0

)

$

25.4

Cash provided by (used in) investing activities:

Capital expenditures

$

(10.3

)

$

(10.0

)

Proceeds from sale of business

93.1

—

Restricted investment

24.7

—

Proceeds from disposition of assets

—

3.6

Other investing activities, net

(1.2

)

(5.1

)

Net cash provided by (used in) investing activities

$

106.3

$

(11.5

)

Cash provided by (used in) financing activities:

Proceeds from revolving credit facility and other borrowings

$

713.8

$

92.3

Payments on revolving credit facility and other borrowings

(718.0

)

(100.3

)

Debt issuance costs

(4.0

)

—

Finance lease obligations, net

(0.3

)

(0.4

)

Tax payments related to withholdings on vested equity awards

(4.3

)

(2.6

)

Proceeds and withholdings from share-based compensation plans, net

3.3

—

Repurchases of common stock under stock repurchase plan

(52.3

)

—

Net cash provided by (used in) financing activities

$

(61.8

)

$

(11.0

)

Increase (decrease) in cash, cash equivalents, and restricted cash

42.5

2.9

Effect of exchange rate changes on cash

0.2

1.4

Change in cash, cash equivalents, and restricted cash

42.7

4.3

Cash, cash equivalents, and restricted cash at beginning of period

112.6

86.6

Cash, cash equivalents, and restricted cash at end of period (2)

$

155.3

$

90.9

Supplemental cash flow information:

Cash paid for interest, net of capitalized interest

$

11.1

$

14.6

Cash paid for income taxes, net of refunds

2.5

4.4

Purchases of property, plant, and equipment in accounts payable

1.8

2.9

Leased assets obtained in exchange for new operating lease liabilities

5.8

—

Ingevity has presented certain financial measures, defined below, which have not been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and has provided a reconciliation to the most directly comparable financial measure calculated in accordance with GAAP on the following pages. These financial measures are not meant to be considered in isolation nor as a substitute for the most directly comparable financial measure calculated in accordance with GAAP. Investors should consider the limitations associated with these non-GAAP measures, including the potential lack of comparability of these measures from one company to another.

We believe these non-GAAP financial measures provide management as well as investors, potential investors, securities analysts, and others with useful information to evaluate the performance of the business, because such measures, when viewed together with our financial results computed in accordance with GAAP, provide a more complete understanding of the factors and trends affecting our historical financial performance, liquidity measures, and projected future results.

Ingevity uses the following non-GAAP measures:

Adjusted earnings (loss) from continuing operations is defined as net income (loss) from continuing operations plus restructuring and other (income) charges, net, goodwill impairment charges, long lived asset impairment charge, acquisition and other-related (income) costs, pension and postretirement settlement and curtailment (income) charges, impairment of license agreement, debt refinancing fees, litigation charge, proxy contest charges, portfolio realignment costs, and the income tax expense (benefit) on those items, less the provision (benefit) from certain discrete tax items.

Diluted adjusted earnings (loss) from continuing operations per share is defined as diluted earnings (loss) from continuing operations per share plus restructuring and other (income) charges, net, per share, acquisition and other-related (income) costs per share, pension and postretirement settlement and curtailment (income) charges per share, impairment of license agreement per share, debt refinancing fees per share, litigation charge per share, proxy contest charges per share, portfolio realignment costs per share, and the income tax expense (benefit) per share on those items, less the provision (benefit) from certain discrete tax items per share.

Adjusted EBITDA from continuing operations is defined as net income (loss) from continuing operations plus interest expense, net, provision (benefit) for income taxes, depreciation, amortization, restructuring and other (income) charges, net, acquisition and other-related (income) costs, litigation charge, impairment of license agreement, proxy contest charges, portfolio realignment costs, and pension and postretirement settlement and curtailment (income) charges, net.

Total adjusted EBITDA is defined as Adjusted EBITDA from continuing operations and Adjusted EBITDA from discontinued operations.

Adjusted EBITDA margin from continuing operations is defined as Adjusted EBITDA from continuing operations divided by Net sales from continuing operations.

Net Debt is defined as the sum of notes payable, short-term debt, current maturities of long-term debt and long-term debt including finance lease obligations less the sum of cash and cash equivalents, restricted cash associated with our new market tax credit financing arrangement, and restricted investment associated with certain finance lease obligations, excluding the allowance for credit losses on held-to-maturity debt securities held within the restricted investment.

Net Debt Ratio is defined as Net Debt divided by the last twelve months Adjusted EBITDA from continuing operations.

Free Cash Flow is defined as the sum of net cash provided by (used in) the following items: operating activities less capital expenditures.

Ingevity's management also uses the above financial measures as the primary measures of profitability and liquidity of the business. In addition, Ingevity believes Adjusted EBITDA from continuing operations and Adjusted EBITDA Margin from continuing operations are useful measures because they exclude the effects of financing and investment activities as well as non-operating activities.

GAAP Reconciliation of 2026 Adjusted EBITDA Guidance

A reconciliation of net income to Adjusted EBITDA from continuing operations as projected for 2026 is not provided. Ingevity does not forecast net income as it cannot, without unreasonable effort, estimate or predict with certainty various components of net income. These components, net of tax, include further restructuring and other income (charges), net; additional acquisition and other-related (income) costs; litigation charges; additional pension and postretirement settlement and curtailment (income) charges; and revisions due to legislative tax rate changes. Additionally, discrete tax items could drive variability in our projected effective tax rate. All of these components could significantly impact such financial measures. Further, in the future, other items with similar characteristics to those currently included in Adjusted EBITDA from continuing operations, that have a similar impact on the comparability of periods, and which are not known at this time, may exist and impact Adjusted EBITDA from continuing operations.

Adjusted Earnings and Diluted Adjusted Earnings per Share Reconciliation (GAAP to Non-GAAP)

Three Months Ended March 31,

In millions, except per share data (unaudited)

2026

2025

Net income (loss) from continuing operations (GAAP)

$

23.4

$

29.1

Restructuring and other (income) charges, net (1)

0.5

1.9

Litigation charge (2)

16.2

—

Impairment of license agreement (3)

2.8

—

Proxy contest charges (4)

—

7.9

Portfolio realignment costs (5)

3.2

—

Tax effect on items above (6)

(5.3

)

(2.3

)

Certain discrete tax provision (benefit) (7)

0.6

0.4

Adjusted earnings (loss) from continuing operations (Non-GAAP)

$

41.4

$

37.0

Diluted earnings (loss) from continuing operations per share (GAAP)

$

0.65

$

0.79

Restructuring and other (income) charges, net

0.01

0.05

Litigation charge

0.45

—

Impairment of license agreement

0.08

—

Proxy contest charges

—

0.21

Portfolio realignment costs

0.09

—

Tax effect on items above

(0.15

)

(0.05

)

Certain discrete tax provision (benefit)

0.02

0.01

Diluted adjusted earnings (loss) from continuing operations per share (Non-GAAP)

$

1.15

$

1.01

Weighted average common shares outstanding - Diluted

36.0

36.7

Three Months Ended March 31,

In millions

2026

2025

Work force reductions and other

$

(0.3

)

$

1.2

Performance Chemicals repositioning

0.8

0.7

Restructuring charges (i)

$

0.5

$

1.9

Other (income) charges, net (i)

$

—

$

—

Restructuring and other (income) charges, net (ii)

$

0.5

$

1.9

  (i) Amounts are recorded within Restructuring and other (income) charges, net on the condensed consolidated statement of operations. (ii) For information on our Workforce reductions and other and Performance Chemicals' repositioning please refer to Note 15, Restructuring and Other (Income) Charges, net, in the Notes to the Consolidated Financial Statements included in the Company’s Form 10-K for the year ended December 31, 2025, filed on February 26, 2026. Updates will be provided in subsequent filings of the Company's Form 10-Q in 2026. (2) 

For information on our litigation charges please refer to Note 17, Commitments and Contingencies, in the Notes to the Consolidated Financial Statements included in the Company’s Form 10-K for the year ended December 31, 2025, filed on February 26, 2026. Updates will be provided in subsequent filings of the Company's Form 10-Q in 2026.

(3) 

Charge represents an impairment of a license agreement within our Performance Materials reportable segment.

(4) 

Charges represent legal and other professional service fees as well as incremental proxy solicitation costs related to a proxy contest.

(5) 

Charges represent professional service fees related to a review of the company's portfolio.

(6) 

Income tax impact of non-GAAP adjustments is the summation of the calculated income tax charge related to each pre-tax non-GAAP adjustment. The non-GAAP adjustments relate primarily to adjustments in the United States. As such, the income tax effect is calculated using the statutory tax rates of 21% for the United States and approximately 2.5% for state and local taxes, applied to the non-GAAP adjustments.

(7) 

Represents certain discrete tax items such as excess tax benefits on stock compensation and impacts of legislative tax rate changes.

Adjusted EBITDA Reconciliation (GAAP to Non-GAAP)

Three Months Ended March 31,

In millions, except percentages (unaudited)

2026

2025

Net income (loss) from continuing operations (GAAP)

$

23.4

$

29.1

Provision (benefit) for income taxes on continuing operations

6.8

8.5

Interest expense, net

15.9

19.4

Depreciation and amortization

22.7

24.5

Restructuring and other (income) charges, net (1)

0.5

1.9

Litigation charge (1)

16.2

—

Impairment of license agreement (1)

2.8

—

Proxy contest charges (1)

—

7.9

Portfolio realignment costs (1)

3.2

—

Adjusted EBITDA from continuing operations (Non-GAAP)

$

91.5

$

91.3

Net sales from continuing operations

$

258.0

$

247.9

Net income (loss) margin from continuing operations

9.1

%

11.7

%

Adjusted EBITDA margin from continuing operations (Non-GAAP)

35.5

%

36.8

%

Free Cash Flow Calculation (Non-GAAP)

Three Months Ended March 31,

In millions (unaudited)

2026

2025

Net cash provided by (used in) operating activities

$

(2.0

)

$

25.4

Less: Capital expenditures

10.3

10.0

Free Cash Flow (Non-GAAP)

$

(12.3

)

$

15.4

Net Debt Ratio Calculation (Non-GAAP)

In millions, except ratios (unaudited)

March 31, 2026

Notes payable and current maturities of long-term debt

$

121.9

Long-term debt including finance lease obligations

1,082.4

Debt issuance costs

2.8

Total Debt

1,207.1

Less:

Cash and cash equivalents (1)

95.5

Restricted investment (2)

85.3

Net Debt

$

1,026.3

Net Debt Ratio (Non-GAAP)

Adjusted EBITDA (Non-GAAP)

Twelve months ended December 31, 2025 - Total Adjusted EBITDA

$

397.5

Three months ended March 31, 2025 (3) - Adjusted EBITDA from Continuing Operations

(91.3

)

Three months ended March 31, 2026 (3) - Adjusted EBITDA from Continuing Operations

91.5

Total Adjusted EBITDA (Non-GAAP) - last twelve months (LTM) as of March 31, 2026

$

397.7

Net debt ratio (Non-GAAP)

2.6x

  (1)

Includes $0.1 million of Restricted Cash related to the new market tax credit financing arrangement.

(2)

Our restricted investment is a trust managed in order to secure repayment of the finance lease obligation associated with Performance Materials' Wickliffe, Kentucky, manufacturing site at maturity. The trust, presented as Restricted investment on our condensed consolidated balance sheets, originally purchased long-term bonds that mature through 2026. The principal received at maturity of the bonds, along with interest income that is reinvested in the trust, are expected to be equal to or more than the $80.0 million finance lease obligation that is due in 2027. Excludes $0.2 million allowance for credit losses on held-to-maturity debt securities.

(3)

Refer to the Adjusted EBITDA Reconciliation (GAAP to Non-GAAP) schedule on page 10 for the reconciliation to the most comparable GAAP financial measure.