Secondary analysis from the Phase 3 MAESTRO-NASH and MAESTRO-NAFLD-1 trials examines improvements in lipid profiles for Lp(a), LDL-C and ApoB with Rezdiffra® (resmetirom)Analysis of two-year data in patients with compensated MASH cirrhosis (F4c) examines improvement in ANTICIPATE-NASH risk scores, a marker for clinically significant portal hypertensionAdditional abstracts focus on early real-world evidence with Rezdiffra and the ability of noninvasive biomarkers to predict fibrosis improvement in patients treated with Rezdiffra CONSHOHOCKEN, Pa., May 20, 2026 (GLOBE NEWSWIRE) -- Madrigal Pharmaceuticals, Inc. (NASDAQ: MDGL), a biopharmaceutical company focused on delivering novel therapeutics for metabolic dysfunction-associated steatohepatitis (MASH), today announced that multiple abstracts from its Rezdiffra development and real-world evidence programs will be presented at the European Association for the Study of the Liver (EASL) Congress 2026, taking place May 27–30 in Barcelona, Spain.
The presentations highlight the breadth of evidence supporting Rezdiffra, including a secondary analysis on cardiometabolic risk in patients with MASH, non-invasive risk stratification in patients with compensated cirrhosis and early real-world evidence from routine clinical practice.
“The body of data presented at EASL 2026 reinforces Madrigal’s leadership in MASH and clearly supports the continued integration of Rezdiffra into clinical practice as a foundational therapy,” said David Soergel, M.D., Chief Medical Officer of Madrigal. “These analyses extend beyond liver-focused assessments to explore Rezdiffra’s effects on markers of cardiovascular risk and provide important new insights about noninvasive measures of treatment response in patients with moderate to advanced fibrosis (F2-F3) and well-compensated MASH cirrhosis (F4c).”
Madrigal Poster Presentations at the EASL Congress 2026:
TitlePresenterReducing CV risk in patients with MASH independent of baseline based on Lp(a) and LDL lowering by resmetiromMeena BansalBaseline ANTICIPATE score and response predicts liver outcome events in a 180 patient MASH cirrhosis cohort treated with resmetiromNaim AlkhouriIn F0-F1 and F2-F3 MASH, ≥5% weight loss significantly lowers VCTE and ELF independent of biopsy fibrosis improvement; resmetirom and not placebo reduction of ELF and VCTE are associated with biopsy improvement of fibrosis, independent of weight lossRohit LoombaEarly real-world effectiveness of resmetirom in adults with metabolic dysfunction associated steatohepatitis and moderate-to-advanced fibrosisNaim AlkhouriTwelve-month changes in liver function enzymes and lipids in patients receiving resmetiromChristina ParrinelloNon-invasive test-driven modeling of patient eligibility for resmetirom therapy in MASLD: Data from the German SLD-RegistryMaurice MichelEarly and Week 52 biomarker (MRI-PDFF, ALT, MRE and PRO-C3) responses to resmetirom predict improvements in MASH and liver fibrosisRohit LoombaMachine learning models of non-invasive tests to predict MASH and fibrosis stage based on MAESTRO-NAFLD-1 and MAESTRO-NASH liver biopsiesRohit Loomba Rezdiffra (resmetirom) is a once-daily, oral, liver-directed thyroid hormone receptor (THR)-β agonist designed to address key underlying causes of MASH. It was the first medication approved for the treatment of MASH in the U.S. and Europe. In the pivotal Phase 3 MAESTRO-NASH biopsy trial, Rezdiffra achieved both fibrosis improvement and MASH resolution primary endpoints. Rezdiffra also reduced liver stiffness, liver fat, liver enzymes and atherogenic lipids in the MAESTRO-NASH trial and improved health-related quality of life. At one year, 91% of patients treated with Rezdiffra 100mg achieved improvement or stabilization of liver stiffness as measured by vibrational-controlled transient elastography (VCTE), a test that is frequently used to monitor treatment response in clinical practice.
Rezdiffra is indicated in conjunction with diet and exercise for the treatment of adults with noncirrhotic MASH with moderate to advanced liver fibrosis (consistent with stages F2 to F3 fibrosis). Continued approval for this indication may be contingent upon verification and description of clinical benefit in ongoing confirmatory trials. Rezdiffra is not approved in any geography for the treatment of patients with cirrhosis.
About MASH
Metabolic dysfunction-associated steatohepatitis (MASH) is a serious liver disease that can progress to cirrhosis, liver failure, liver cancer, the need for liver transplantation and premature mortality. MASH is the leading cause of liver transplantation in women and the second leading cause of all liver transplantation in the U.S., and the fastest-growing indication for liver transplantation in Europe.
Once patients progress to MASH with moderate to advanced liver fibrosis (consistent with stages F2 to F3 fibrosis), the risk of adverse liver outcomes increases dramatically: these patients have a 10 to 17 times higher risk of liver-related mortality as compared to patients without fibrosis.
Patients with MASH who progress to cirrhosis face a 42 times higher risk of liver-related mortality, underscoring the need to treat MASH before complications of cirrhosis develop. MASH is also an independent driver of cardiovascular disease, the leading cause of mortality for patients.
As disease awareness improves and disease prevalence increases, the number of diagnosed patients F2 to F4c MASH is growing.
About Rezdiffra
What is Rezdiffra?
Rezdiffra is a prescribed medicine used along with diet and exercise to treat adults with metabolic dysfunction-associated steatohepatitis (MASH) with moderate to advanced liver scarring (fibrosis), but not with cirrhosis of the liver.
This indication is approved based on improvement of MASH and liver scarring (fibrosis). There are ongoing studies to confirm the clinical benefit of Rezdiffra.
Before you take Rezdiffra, tell your healthcare provider about all of your medical conditions, including if you:
have any liver problems other than MASH.have gallbladder problems or have been told you have gallbladder problems, including gallstones.are pregnant or plan to become pregnant. It is not known if Rezdiffra will harm your unborn baby. A pregnancy safety study for women who take Rezdiffra during pregnancy collects information about the health of you and your baby. You or your healthcare provider can report your pregnancy by visiting https://pregnancyregistry.madrigalpharma.com/ or calling 1-800-905-0324. are breastfeeding or plan to breastfeed. It is not known if Rezdiffra passes into your breast milk. Talk to your healthcare provider about the best way to feed your baby if you take Rezdiffra.
Tell your healthcare provider about all the medicines you take, including prescription and over-the-counter medicines, vitamins and herbal supplements.
Rezdiffra and other medicines may affect each other, causing side effects. Rezdiffra may affect the way other medicines work, and other medicines may affect how Rezdiffra works.Especially tell your healthcare provider if you take medicines that contain gemfibrozil to help lower your triglycerides, because Rezdiffra is not recommended in patients taking these medicines.Tell your healthcare provider if you are taking medicines such as clopidogrel to thin your blood or statin medicines to help lower your cholesterol.Know the medicines you take. Keep a list of them to show your healthcare provider and pharmacist when you get a new medicine. What are the possible side effects of Rezdiffra?
Rezdiffra may cause serious side effects, including:
liver injury (hepatotoxicity). Stop taking Rezdiffra and call your healthcare provider right away if you develop the following signs or symptoms of hepatotoxicity: tiredness, nausea, vomiting, fever, rash, your skin or the white part of your eyes turns yellow (jaundice) or stomach pain/tenderness.gallbladder problems. Gallbladder problems such as gallstones, or inflammation of the gallbladder, or inflammation of the pancreas from gallstones can occur with MASH and may occur if you take Rezdiffra. Call your healthcare provider right away if you develop any signs or symptoms of these conditions including nausea, vomiting, fever, or pain in your stomach area (abdomen) that is severe and will not go away. The pain may be felt going from your abdomen to your back and the pain may happen with or without vomiting.The most common side effects of Rezdiffra include: diarrhea, nausea, itching, stomach pain, vomiting, dizziness and constipation.
These are not all the possible side effects of Rezdiffra. For more information, ask your healthcare provider or pharmacist.
Call your doctor for medical advice about side effects. You may report side effects to FDA at 1-800-FDA-1088 or www.fda.gov/medwatch. You may also report side effects to Madrigal at 1-800-905-0324.
Please see the full Prescribing Information, including Patient Information, for Rezdiffra.
About Madrigal
Madrigal Pharmaceuticals, Inc. (Nasdaq: MDGL) is a biopharmaceutical company focused on delivering novel therapeutics for metabolic dysfunction-associated steatohepatitis (MASH), a liver disease with high unmet medical need. Madrigal’s medication, Rezdiffra (resmetirom), is a once-daily, oral, liver-directed THR-β agonist designed to target key underlying causes of MASH. Rezdiffra was the first medication approved by both the FDA and European Commission for the treatment of MASH with moderate to advanced fibrosis (F2 to F3). An ongoing Phase 3 outcomes trial is evaluating Rezdiffra for the treatment of compensated MASH cirrhosis (F4c). For more information, visit www.madrigalpharma.com and follow us on LinkedIn.
Forward-Looking Statements
This press release includes “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended, including statements related to Rezdiffra’s effects on markers of cardiovascular risk and the potential benefit of Rezdiffra in patients with compensated MASH cirrhosis. Forward-looking statements are subject to a number of risks and uncertainties including, but not limited to: the assumptions underlying the forward-looking statements; our ability to successfully commercialize Rezdiffra in the U.S. and Europe; risks related to obtaining and maintaining regulatory approvals, including, but not limited to, potential regulatory delays or rejections; our history of operating losses and the possibility that we may never achieve or maintain profitability; risks associated with meeting the objectives of our clinical trials, including, but not limited to our ability to achieve enrollment objectives concerning patient numbers (including an adequate safety database), outcomes objectives and/or timing objectives for our trials; any delays or failures in enrollment, and the occurrence of adverse safety events; risks related to the effects of Rezdiffra’s (resmetirom’s) mechanism of action or of any other product candidate; market demand for and acceptance of Rezdiffra; our ability to service indebtedness and otherwise comply with debt covenants; outcomes or trends from competitors; future topline data timing or results; our ability to prevent and/or mitigate cyber-attacks; our ability to protect our intellectual property rights; the uncertainties inherent in clinical testing; uncertainties concerning analyses or assessments outside of a controlled clinical trial; and changes in laws and regulations applicable to our business and our ability to comply with such laws and regulations. Undue reliance should not be placed on forward-looking statements, which speak only as of the date they are made. Madrigal undertakes no obligation to update any forward-looking statements to reflect new information, events, or circumstances after the date they are made, or to reflect the occurrence of unanticipated events. Please refer to Madrigal’s submissions filed with the U.S. Securities and Exchange Commission (SEC) for more detailed information regarding these risks and uncertainties and other factors that may cause actual results to differ materially from those expressed or implied. Madrigal specifically discusses these risks and uncertainties in greater detail in the sections appearing in Part 1A of its Annual Report on Form 10-K for the year ended December 31, 2025, and as updated from time to time by Madrigal’s other filings with the SEC.
Madrigal may use its website to comply with its disclosure obligations under Regulation FD. Therefore, investors should monitor Madrigal’s website in addition to following its press releases, filings with the SEC, public conference calls, and webcasts.
Madrigal Pharmaceuticals, Rezdiffra® and associated logos are trademarks of Madrigal Pharmaceuticals, Inc.
May 21, 2026 16:05 ET | Source: Madrigal Pharmaceuticals, Inc.
CONSHOHOCKEN, Pa., May 21, 2026 (GLOBE NEWSWIRE) -- Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL), a biopharmaceutical company focused on delivering novel therapeutics for metabolic dysfunction-associated steatohepatitis (MASH), today announced that it granted equity awards on May 15, 2026 to 15 new non-executive employees as equity inducement awards under the terms of Madrigal’s 2025 Inducement Plan. The equity awards were approved by Madrigal’s independent Compensation Committee in accordance with Nasdaq Listing Rule 5635(c)(4).
The equity awards were granted as an inducement material to employees’ acceptance of employment with the company. The new employees received, in the aggregate, 5,308 time-based restricted stock units. All restricted stock units granted vest in four equal installments on each of the first through fourth anniversaries of the grant date. The vesting of all awards described above shall be subject to each such employee’s continued employment as of the applicable vesting date.
About Madrigal Pharmaceuticals
Madrigal Pharmaceuticals, Inc. (Nasdaq: MDGL) is a biopharmaceutical company focused on delivering novel therapeutics for metabolic dysfunction-associated steatohepatitis (MASH), a liver disease with high unmet medical need. Madrigal’s medication, Rezdiffra (resmetirom), is a once-daily, oral, liver-directed THR-β agonist designed to target key underlying causes of MASH. Rezdiffra was the first medication approved by both the FDA and European Commission for the treatment of MASH with moderate to advanced fibrosis (F2 to F3). An ongoing Phase 3 outcomes trial is evaluating Rezdiffra for the treatment of compensated MASH cirrhosis (F4c). For more information, visit www.madrigalpharma.com.
Growing body of clinical and real-world evidence supports the role of Rezdiffra® (resmetirom) as the foundational therapy for patients with MASH Rezdiffra improved atherogenic lipid profiles associated with cardiovascular risk, including LDL-C, ApoB and Lp(a), in a secondary analysis from the Phase 3 MAESTRO program In patients with well-compensated MASH cirrhosis (F4c), Rezdiffra improved a risk score – ANTICIPATE-NASH – that predicts the probability of experiencing severe liver-related eventsMultiple real-world analyses evaluating the use of Rezdiffra in routine clinical practice demonstrated early and sustained improvements in cardiometabolic parameters, liver-related biomarkers, and liver stiffness measurements; 49% of patients achieved ≥25% reduction in liver stiffness over a nine-month follow-up period CONSHOHOCKEN, Pa., May 27, 2026 (GLOBE NEWSWIRE) -- Madrigal Pharmaceuticals, Inc. (NASDAQ: MDGL), a biopharmaceutical company focused on delivering novel therapeutics for metabolic dysfunction-associated steatohepatitis (MASH), today announced new analyses of Phase 3 data and real-world evidence demonstrating Rezdiffra reduced markers of cardiovascular and liver-related risk in patients with MASH. The data are featured across eight poster presentations at the European Association for the Study of the Liver (EASL) Congress 2026, taking place May 27-30 in Barcelona, Spain.
“New analyses from the Phase 3 MAESTRO program and a growing body of real-world evidence reinforce Rezdiffra’s position as the foundational therapy for MASH,” said David Soergel, M.D., Chief Medical Officer of Madrigal. “The data we are presenting at the EASL Congress give us new insight into Rezdiffra’s potential to reduce clinically significant portal hypertension risk in patients with well-compensated MASH cirrhosis, a population with no approved therapies. Additionally, we continue to generate evidence supporting the medication’s broad and consistent effects on key biomarkers used to monitor treatment response in everyday clinical practice, as well as markers of cardiovascular risk.”
“Cardiovascular disease is the leading cause of death in people with MASH, so the secondary analysis from the Phase 3 MAESTRO program demonstrating that Rezdiffra improved LDL-C, ApoB and Lp(a) is highly relevant for clinicians and patients,” said Meena B. Bansal, M.D., F.A.A.S.L.D., System Chief, Division of Liver Diseases Director, MASH/NASH Center of Excellence, Icahn School of Medicine at Mount Sinai. “Patients achieved key MASH endpoints and significant improvements in multiple atherogenic lipids and lipoproteins regardless of baseline statin use. This is particularly important because statins are not known to meaningfully lower certain lipoproteins such as Lp(a). These results suggest Rezdiffra may provide additional cardiometabolic benefit for patients with MASH, whether or not they are receiving statin therapy. Further research is warranted to evaluate Rezdiffra’s potential to improve cardiovascular outcomes in patients with MASH.”
Key Madrigal Data Presentations at the EASL Congress 2026
Poster Presentation: Reducing CV risk in patients with MASH independent of baseline statin use: Lp(a) and LDL lowering by resmetirom [Abstract # ID-FRI-149, Presenter: Meena B. Bansal]
Data from a secondary analysis of the Phase 3 MAESTRO-NASH and MAESTRO-NAFLD-1 trials demonstrated that Rezdiffra improved key histologic MASH endpoints and significantly reduced multiple atherogenic lipids and lipoproteins associated with cardiovascular risk, including LDL-C and Lp(a), regardless of baseline statin use.
Among statin-treated patients (n=473) receiving Rezdiffra 100mg:
44.4% of patients with baseline LDL-C ≥70mg/dL shifted to <70mg/dL at week 52.50.0% of patients with baseline LDL-C ≥100mg/dL shifted to <100mg/dL at week 52.Among patients with elevated baseline Lp(a), 36.3% of patients with baseline Lp(a) ≥30mg/dL and 37.5% of patients with baseline Lp(a) ≥50mg/dL shifted below those thresholds.No significant statin-related safety signals were observed. Among patients receiving Rezdiffra 100mg and no statins (n=493):
13.8% of patients with baseline LDL-C ≥70mg/dL shifted to <70mg/dL at week 52.51.5% of patients with baseline LDL-C ≥100mg/dL shifted to <100mg/dL at week 52.Among patients with elevated baseline Lp(a), 45.4% of patients with baseline Lp(a) ≥30mg/dL and 62.5% of patients with baseline Lp(a) ≥50mg/dL shifted below those thresholds. These findings support the concomitant use of Rezdiffra with statin therapy and suggest the potential for Rezdiffra to address both liver disease and cardiometabolic risk in patients with MASH.
EASL Top Poster: Baseline ANTICIPATE score and response predicts liver outcome events in a 180 patient MASH cirrhosis cohort treated with resmetirom [Abstract # ID-TOP-177, Presenter: Naim Alkhouri]
In patients with compensated MASH cirrhosis, clinically significant portal hypertension (CSPH) is a key driver of disease progression and severe liver-related complications. While Baveno criteria are used to identify patients likely to have CSPH, ANTICIPATE-NASH is a noninvasive risk stratification model developed for MASH that integrates liver stiffness measurements, platelet count and body mass index (BMI) to estimate future CSPH risk and predict the likelihood of liver-related events over the subsequent three years.
The ANTICIPATE-NASH risk model was applied to the open-label extension (OLE) cohort from the MAESTRO-NAFLD-1 trial, which included patients with well-compensated MASH cirrhosis (F4c) treated with Rezdiffra for up to two years. Results demonstrated progressive improvements in ANTICIPATE-NASH risk scores over time:
The proportion of patients classified as high risk for CSPH decreased from 75% at baseline to 60.3% at Year 1 and 54.5% at Year 2.Mean ANTICIPATE-NASH scores declined by up to 37.6% over two years of treatment.Liver-related events were infrequent and occurred exclusively in patients with baseline ANTICIPATE-NASH scores associated with elevated CSPH risk. These findings support the potential use of ANTICIPATE-NASH as a risk stratification tool to identify patients with a high-risk of disease progression, informing prognosis and clinical decision-making.
Early real-world effectiveness of resmetirom in adults with metabolic dysfunction associated steatohepatitis and moderate-to-advanced- fibrosis [Abstract #ID-FRI-141, Presenter: Naim Alkhouri]Twelve-month changes in liver function enzymes and lipids in patients receiving resmetirom [Abstract # ID-FRI-186, Presenter: Anthony Martinez]Non-invasive test-driven modeling of patient eligibility for resmetirom therapy in MASLD: Data from the German SLD-Registry [Abstract #ID-WED-155, Presenter: Maurice Michel] Multiple real-world studies evaluating patients treated with Rezdiffra for up to 12 months in routine clinical practice are also being presented at EASL. Collectively, these studies demonstrated that patients achieved clinically meaningful improvements in biomarkers of liver disease and cardiometabolic risk. Improvements were observed as early as approximately six months following treatment initiation and sustained through approximately 12 months. Rezdiffra was generally well tolerated, with low rates of treatment-related adverse events and discontinuations reported in routine clinical practice.
Abstract #ID-FRI-141: In an analysis of data from a large gastroenterology practice, Rezdiffra use was associated with clinically meaningful improvements in laboratory and non-invasive clinical measures. Over a mean follow-up period of approximately nine months, 48.6% of patients achieved ≥25% reduction in liver stiffness, a key measure of treatment response. Rezdiffra was well tolerated in this analysis, and discontinuation due to treatment-related adverse events was <1%.Abstract # ID-FRI-186: In another electronic health record analysis of 728 patients treated with Rezdiffra over 12 months, statistically significant reductions in ALT and AST were observed; these reductions in liver enzymes were consistent across all subgroups, irrespective of baseline type 2 diabetes status, obesity, GLP-1 and statin use. LDL-C levels also decreased significantly in the overall cohort and showed directional reductions across all subgroups.Abstract #ID-WED-155: A prospective registry study (Germany Steatotic Liver Disease [SLD]) aimed to characterize patients eligible for Rezdiffra treatment based on noninvasive tests (NITs) in a real-world cohort in Germany. Of the 1,308 patients analyzed, approximately one in five met the criteria for treatment. The treatment-eligible cohort showed a higher distribution of three or more metabolic comorbidities simultaneously. Identification of such patients using NITs such as liver stiffness may support risk stratification and inform treatment strategies in routine clinical practice. About Rezdiffra
Rezdiffra (resmetirom) is a once-daily, oral, liver-directed thyroid hormone receptor (THR)-β agonist designed to address key underlying causes of MASH. It was the first medication approved for the treatment of MASH in the U.S. and Europe. In the pivotal Phase 3 MAESTRO-NASH biopsy trial, Rezdiffra achieved both fibrosis improvement and MASH resolution primary endpoints. Rezdiffra also reduced liver stiffness, liver fat, liver enzymes and atherogenic lipids in the MAESTRO-NASH trial and improved health-related quality of life. At one year, 91% of patients treated with Rezdiffra 100mg achieved improvement or stabilization of liver stiffness.
Rezdiffra is indicated in conjunction with diet and exercise for the treatment of adults with noncirrhotic MASH with moderate to advanced liver fibrosis (consistent with stages F2 to F3 fibrosis). Continued approval for this indication may be contingent upon verification and description of clinical benefit in ongoing confirmatory trials. Rezdiffra is not approved in any geography for the treatment of patients with cirrhosis.
About MASH
Metabolic dysfunction-associated steatohepatitis (MASH) is a serious liver disease that can progress to cirrhosis, liver failure, liver cancer, the need for liver transplantation and premature mortality. MASH is the leading cause of liver transplantation in women and the second leading cause of all liver transplantation in the U.S., and the fastest-growing indication for liver transplantation in Europe.
Once patients progress to MASH with moderate to advanced liver fibrosis (consistent with stages F2 to F3 fibrosis), the risk of adverse liver outcomes increases dramatically: these patients have a 10 to 17 times higher risk of liver-related mortality as compared to patients without fibrosis.
Patients with MASH who progress to cirrhosis face a 42 times higher risk of liver-related mortality, underscoring the need to treat MASH before complications of cirrhosis develop. MASH is also an independent driver of cardiovascular disease, the leading cause of mortality for patients.
As disease awareness improves and disease prevalence increases, the number of diagnosed patients with F2 to F4c MASH is growing.
What is Rezdiffra?
Rezdiffra is a prescribed medicine used along with diet and exercise to treat adults with metabolic dysfunction-associated steatohepatitis (MASH) with moderate to advanced liver scarring (fibrosis), but not with cirrhosis of the liver.
This indication is approved based on improvement of MASH and liver scarring (fibrosis). There are ongoing studies to confirm the clinical benefit of Rezdiffra.
Before you take Rezdiffra, tell your healthcare provider about all of your medical conditions, including if you:
have any liver problems other than MASH.have gallbladder problems or have been told you have gallbladder problems, including gallstones.are pregnant or plan to become pregnant. It is not known if Rezdiffra will harm your unborn baby. A pregnancy safety study for women who take Rezdiffra during pregnancy collects information about the health of you and your baby. You or your healthcare provider can report your pregnancy by visiting https://pregnancyregistry.madrigalpharma.com/ or calling 1-800-905-0324. are breastfeeding or plan to breastfeed. It is not known if Rezdiffra passes into your breast milk. Talk to your healthcare provider about the best way to feed your baby if you take Rezdiffra. Tell your healthcare provider about all the medicines you take, including prescription and over-the-counter medicines, vitamins and herbal supplements.
Rezdiffra and other medicines may affect each other, causing side effects. Rezdiffra may affect the way other medicines work, and other medicines may affect how Rezdiffra works.Especially tell your healthcare provider if you take medicines that contain gemfibrozil to help lower your triglycerides, because Rezdiffra is not recommended in patients taking these medicines.Tell your healthcare provider if you are taking medicines such as clopidogrel to thin your blood or statin medicines to help lower your cholesterol.Know the medicines you take. Keep a list of them to show your healthcare provider and pharmacist when you get a new medicine. What are the possible side effects of Rezdiffra?
Rezdiffra may cause serious side effects, including:
liver injury (hepatotoxicity). Stop taking Rezdiffra and call your healthcare provider right away if you develop the following signs or symptoms of hepatotoxicity: tiredness, nausea, vomiting, fever, rash, your skin or the white part of your eyes turns yellow (jaundice) or stomach pain/tenderness.gallbladder problems. Gallbladder problems such as gallstones, or inflammation of the gallbladder, or inflammation of the pancreas from gallstones can occur with MASH and may occur if you take Rezdiffra. Call your healthcare provider right away if you develop any signs or symptoms of these conditions including nausea, vomiting, fever, or pain in your stomach area (abdomen) that is severe and will not go away. The pain may be felt going from your abdomen to your back and the pain may happen with or without vomiting.The most common side effects of Rezdiffra include: diarrhea, nausea, itching, stomach pain, vomiting, dizziness and constipation. These are not all the possible side effects of Rezdiffra. For more information, ask your healthcare provider or pharmacist.
Call your doctor for medical advice about side effects. You may report side effects to FDA at 1-800-FDA-1088 or www.fda.gov/medwatch. You may also report side effects to Madrigal at 1-800-905-0324.
Please see the full Prescribing Information, including Patient Information, for Rezdiffra.
About Madrigal
Madrigal Pharmaceuticals, Inc. (Nasdaq: MDGL) is a biopharmaceutical company focused on delivering novel therapeutics for metabolic dysfunction-associated steatohepatitis (MASH), a liver disease with high unmet medical need. Madrigal’s medication, Rezdiffra (resmetirom), is a once-daily, oral, liver-directed THR-β agonist designed to target key underlying causes of MASH. Rezdiffra was the first medication approved by both the FDA and European Commission for the treatment of MASH with moderate to advanced fibrosis (F2 to F3). An ongoing Phase 3 outcomes trial is evaluating Rezdiffra for the treatment of compensated MASH cirrhosis (F4c). For more information, visit www.madrigalpharma.com and follow us on LinkedIn.
Forward-Looking Statements
This press release includes “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended, including statements related to Rezdiffra’s ability to potentially improve cardiovascular outcomes in patients with MASH and the potential benefit of Rezdiffra in patients with compensated MASH cirrhosis. Forward-looking statements are subject to a number of risks and uncertainties including, but not limited to: the assumptions underlying the forward-looking statements; our ability to successfully commercialize Rezdiffra in the U.S. and Europe; risks related to obtaining and maintaining regulatory approvals, including, but not limited to, potential regulatory delays or rejections; our history of operating losses and the possibility that we may never achieve or maintain profitability; risks associated with meeting the objectives of our clinical trials, including, but not limited to our ability to achieve enrollment objectives concerning patient numbers (including an adequate safety database), outcomes objectives and/or timing objectives for our trials; any delays or failures in enrollment, and the occurrence of adverse safety events; risks related to the effects of Rezdiffra’s (resmetirom’s) mechanism of action or of any other product candidate; market demand for and acceptance of Rezdiffra; our ability to service indebtedness and otherwise comply with debt covenants; outcomes or trends from competitors; future topline data timing or results; our ability to prevent and/or mitigate cyber-attacks; our ability to protect our intellectual property rights; the uncertainties inherent in clinical testing; uncertainties concerning analyses or assessments outside of a controlled clinical trial; and changes in laws and regulations applicable to our business and our ability to comply with such laws and regulations. Undue reliance should not be placed on forward-looking statements, which speak only as of the date they are made. Madrigal undertakes no obligation to update any forward-looking statements to reflect new information, events, or circumstances after the date they are made, or to reflect the occurrence of unanticipated events. Please refer to Madrigal’s submissions filed with the U.S. Securities and Exchange Commission (SEC) for more detailed information regarding these risks and uncertainties and other factors that may cause actual results to differ materially from those expressed or implied. Madrigal specifically discusses these risks and uncertainties in greater detail in the sections appearing in Part 1A of its Annual Report on Form 10-K for the year ended December 31, 2025, and as updated from time to time by Madrigal’s other filings with the SEC.
Madrigal may use its website to comply with its disclosure obligations under Regulation FD. Therefore, investors should monitor Madrigal’s website in addition to following its press releases, filings with the SEC, public conference calls, and webcasts.
Madrigal Pharmaceuticals, Rezdiffra® and associated logos are trademarks of Madrigal Pharmaceuticals, Inc.
Madrigal Pharmaceuticals, Inc. is a high-risk/high-reward play, focused solely on MASH with its first-in-class drug Rezdiffra. Rezdiffra's initial U.S. TAM is expanding, with diagnosis rates and label extensions potentially driving revenue to double-digit billions over the next decade. Competition from Novo Nordisk's Wegovy and upcoming Efruxifermin poses significant long-term risk, but MDGL enjoys a near-term lead and first-mover advantage.
June 03, 2026 08:00 ET | Source: Madrigal Pharmaceuticals, Inc.
CONSHOHOCKEN, Pa., June 03, 2026 (GLOBE NEWSWIRE) -- Madrigal Pharmaceuticals, Inc. (NASDAQ: MDGL) today announced that the company will participate in the 47th Annual Global Goldman Sachs Health Care Conference 2026 on Wednesday, June 10, 2026, at 11:20 A.M. EDT.
The presentation will be webcast live and may be accessed here or by visiting Madrigal’s Investor Relations Events and Presentations page. A replay of the webcast will be available after the event.
About Madrigal
Madrigal Pharmaceuticals, Inc. (Nasdaq: MDGL) is a biopharmaceutical company focused on delivering novel therapeutics for metabolic dysfunction-associated steatohepatitis (MASH), a liver disease with high unmet medical need. Madrigal’s medication, Rezdiffra (resmetirom), is a once-daily, oral, liver-directed THR-β agonist designed to target key underlying causes of MASH. Rezdiffra was the first medication approved by both the FDA and European Commission for the treatment of MASH with moderate to advanced fibrosis (F2 to F3). An ongoing Phase 3 outcomes trial is evaluating Rezdiffra for the treatment of compensated MASH cirrhosis (F4c). For more information, visit www.madrigalpharma.com and follow us on LinkedIn.
June 04, 2026 16:05 ET | Source: Madrigal Pharmaceuticals, Inc.
CONSHOHOCKEN, Pa., June 04, 2026 (GLOBE NEWSWIRE) -- Madrigal Pharmaceuticals, Inc. (NASDAQ: MDGL), a biopharmaceutical company focused on delivering novel therapeutics for metabolic dysfunction-associated steatohepatitis (MASH), today announced that it granted equity awards on June 1, 2026 to 20 new non-executive employees as equity inducement awards under the terms of Madrigal’s 2025 Inducement Plan. The equity awards were approved by Madrigal’s independent Compensation Committee in accordance with Nasdaq Listing Rule 5635(c)(4).
The equity awards were granted as an inducement material to employees’ acceptance of employment with the company. The new employees received, in the aggregate, 6,881 time-based restricted stock units. All restricted stock units granted vest in four equal installments on each of the first through fourth anniversaries of the grant date. The vesting of all awards described above shall be subject to each such employee’s continued employment as of the applicable vesting date.
About Madrigal Pharmaceuticals
Madrigal Pharmaceuticals, Inc. (Nasdaq: MDGL) is a biopharmaceutical company focused on delivering novel therapeutics for metabolic dysfunction-associated steatohepatitis (MASH), a liver disease with high unmet medical need. Madrigal’s medication, Rezdiffra (resmetirom), is a once-daily, oral, liver-directed THR-β agonist designed to target key underlying causes of MASH. Rezdiffra was the first medication approved by both the FDA and European Commission for the treatment of MASH with moderate to advanced fibrosis (F2 to F3). An ongoing Phase 3 outcomes trial is evaluating Rezdiffra for the treatment of compensated MASH cirrhosis (F4c). For more information, visit www.madrigalpharma.com.
A month has gone by since the last earnings report for Madrigal (MDGL - Free Report) . Shares have lost about 7.9% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Madrigal due for a breakout? Well, first let's take a quick look at the latest earnings report in order to get a better handle on the recent drivers for Madrigal Pharmaceuticals, Inc. before we dive into how investors and analysts have reacted as of late.
Madrigal Q1 Earnings Beat, MASH Drug Sales Drive Top Line, Stock UpMadrigal reported first-quarter 2026 loss of $3.25 per share, narrower than the Zacks Consensus Estimate of a loss of $3.61. In the same quarter last year, the company had incurred a loss of $2.61 per share.
In the first quarter, MDGL generated total revenues of $311.3 million, up significantly year over year, entirely from product sales of Rezdiffra. The metric beat the Zacks Consensus Estimate of $301 million. Rezdiffra is the first marketed drug in MDGL’s portfolio and posted significant year-over-year growth, driven by increased demand.
MDGL’s Q4 Results in DetailIn March 2024, the FDA granted accelerated approval to Rezdiffra, making it the first and currently the only approved therapy for the MASH indication. The eligible patient population includes adults with noncirrhotic MASH with moderate to advanced liver fibrosis. Rezdiffra has also received conditional approval as the first and only therapy in the EU to treat adults with noncirrhotic MASH with moderate-to-advanced liver fibrosis. Per Madrigal, more than 42,250patients are receiving the treatment as of March 31, 2026, up 2.5 times from first-quarter 2025, reflecting continued strong physician adoption and high patient demand.
During the quarter, research and development expenses more than doubled to $108.7 million in the first quarter of 2026. The massive increase can be primarily attributed to one-time, upfront business development expenses of $54.3 million.
Selling, general and administrative expenses also nearly doubled in the reported quarter to $268.5 million. This exponential rise was on account of increased commercial launch activities for Rezdiffra, including significant increases in headcount to support marketing efforts.
Madrigal had cash, cash equivalents and marketable securities worth $817.9 million as of March 31, 2026, compared with $988.6 million as of Dec. 31, 2025.
How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a downward trend in estimates review.
The consensus estimate has shifted -68.41% due to these changes.
VGM ScoresAt this time, Madrigal has a average Growth Score of C, though it is lagging a lot on the Momentum Score front with an F. Charting a somewhat similar path, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Madrigal has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
"2026 is off to a powerful start, with first quarter revenue climbing 12% to $3.8 billion. In an increasingly digital and AI-driven world, the global desire for authentic human connection has never been stronger. We are seeing a fundamental shift as fans prioritize the 'live' experience—the chance to be physically present with their favorite artists and share that energy with friends and fellow fans in a way a screen simply cannot replicate.
This cultural demand is driving record-breaking activity across our business. We have already booked over 85% of our large-venue shows for the year, with show counts up year-over-year across stadiums, arenas, and amphitheaters. Our momentum is clear: we have sold over 107 million tickets to date—an 11% increase—and Venue Nation is on track to grow fan attendance at our owned and operated venues by double-digits. As we continue to expand our global footprint to meet this growing demand for physical connection, we are well positioned for long-term compounding double-digit growth." –Michael Rapino, President and CEO
LIVE NATION PACES FOR DOUBLE-DIGIT GROWTH IN 2026 (1Q26 vs. 1Q25)
Revenue of $3.8 billion, up 12% Operating loss of $371 million, impacted by a $450 million legal accrual Adjusted operating income (AOI) of $371 million, up 9% with operating strength across all segments: Concerts AOI of $3 million with fan attendance of 24 million, up 7% Ticketing AOI of $256 million, driven by 81 million fee-bearing tickets, up 4% Sponsorship AOI up 21% to $165 million, driven by brand demand to connect with our global fan base Q1 deferred revenue for Concerts and Ticketmaster at record levels: Event-related deferred revenue of $6.6 billion, up 22%—largest deferred revenue balance in company history Ticketing deferred revenue of $368 million, up 29%, accounting for $5.5 billion in deferred ticketing gross transaction value (GTV) While 2026 operating income will be impacted by a $450 million legal accrual, on pace to grow adjusted operating income by double-digits this year GLOBAL ARTIST AND TOURING MOMENTUM ACCELERATE 2026 CONCERTS PERFORMANCE
Revenue of $2.8 billion, up 12% vs. 1Q25 Q1 AOI of $3 million and $12 million on a constant currency basis Over 85% of 2026 large venue shows booked (confirmed and offer-in) through the end of April, pacing up high-single digits so far this year, with stadium, arena, and amphitheater show count all up year-on-year Tickets sold through the end of April for 2026 Live Nation concerts up 11% to over 107 million, with consistent double-digit growth across key venue types—stadiums, arenas, amphitheaters, and festivals Full year fan attendance projected to grow high-single digits with timing shifts due to venue mix: Top driver of Q2 fan growth expected to be third-party arenas 70% of amphitheater fan growth expected to occur in Q3, in line with the summer calendar All stadium fan growth will occur in the second half For the full year, Concerts on track to deliver double-digit AOI growth with margins positioned to build on last year's VENUE NATION EXPANDS GLOBAL FOOTPRINT AND DELIVERS DEEPER FAN ENGAGEMENT
Venues opened in 2025 on track to reach their run-rate annual AOI across Concerts and Sponsorship by 2028, delivering 20%+ IRRs: TD Coliseum in Hamilton, Canada delivered a strong Q1 with show count up double-digits and set to deliver 80 shows for the full year—surpassing initial projections At Rogers Stadium in Toronto, projected show count for the full-year is up 40% compared to its inaugural year in 2025 Ongoing roll out of premium hospitality, Live Nation's Vinyl Room, delivering strong results so far this year with onsite spending at the Hollywood Palladium over $100 per fan, and up 30% per fan at Ziggo Dome in Amsterdam Venue Nation on track to grow fans at owned or operated venues by double-digits in 2026: Recently completed three acquisitions: Movistar Arena Santiago, Unipol Forum in Milan, and IMPACT Arena in Bangkok, with a cumulative annual fan capacity of approximately four million 2026 major projects include two U.S. amphitheaters and one stadium in Guadalajara, Mexico 2026 preopening costs for all venues under development expected to remain at approximately $50 million Venues opening in 2026 are projected to reach their run-rate annual AOI across Concerts and Sponsorship by 2029, continuing to deliver 20%+ IRRs CONCERTS DEMAND DRIVES TICKETMASTER STRENGTH IN Q1 (vs. 1Q25 unless otherwise noted)
Revenue of $765 million, up 10% AOI of $256 million, up 1% $30 million in expenses related to legal and operational improvements Primary GTV grew 14%, with concerts delivering most of the growth Ticketmaster well positioned for sustained long-term growth: Ticketmaster total fee-bearing tickets transacted through April for 2026 up 9% to 138 million, with GTV of $17 billion, up 15% Primary fee-bearing ticket volume expected to grow mid-single digits for the full year Ongoing efforts to reduce scalper activity expected to impact full-year Ticketmaster AOI by mid-single digits Full year AOI margin expected to be similar to last year THE POWER OF PRESENCE: BRANDS PRIORITIZE AUTHENTIC CONNECTION AS GLOBAL SPONSORSHIP ACTIVITY REACHES NEW HEIGHTS (vs. 1Q25 unless otherwise noted)
Revenue of $259 million, up 20% AOI of $165 million, up 21%, reflecting the strength of international festivals in South America and our growing venue portfolio 85% of 2026 sponsorship commitments booked as of end of April, up double-digits AOI expected to grow double-digits for the full year, driven by venue portfolio expansion including naming rights across major arenas and festivals globally Full year AOI margin expected to be similar to last year CAPITAL ALLOCATION SUPPORTS VENUE EXPANSION AND LONG-TERM GROWTH
Q1 capital expenditures totaled $249 million; full year spend expected to be $1.1 to $1.2 billion: Approximately $800 to $850 million of total capex is for venue expansion and enhancement projects Venue investment cash requirements expected to be reduced by approximately $250 million from funding by joint-venture partners, sponsorship agreements, and other sources Additional capex allocated to our ticketing and sponsorship growth initiatives, as well as ongoing maintenance at our venues Full year AOI to free cash flow—adjusted conversion expected to be in line with or higher than 2025 CONTINUED TO BOLSTER OUR BALANCE SHEET IN Q1
Cash and cash equivalents of $9.1 billion, up from $7.2 billion last year and free cash of $1.7 billion, up from $1.1 billion last year Leverage stands at 3.6x, in line with historical levels, with a weighted average cost of debt of 4.2% In April, raised approximately €610 million in long-term debt at 5.5% through an investment grade financing vehicle backed by a portfolio of major venues FULL-YEAR INCOME STATEMENT DETAILS (vs. FY25)
Depreciation and amortization expected to grow 12-15% Net interest expense is expected to be $280 million Income tax expense is expected to be 15-20% of AOI, with cash taxes projected to be 80% of that amount Below the line items: A $450 million legal accrual impacted Q1 operating income and earnings per share by $(1.93) Noncontrolling interest expense is expected to grow 25% driven by strong performance across our global partnerships Accretion expense is expected to be $160-180 million 2026 share count not expected to change materially from 2025 Compare Our Operating Results to Past Quarters In The Trended Results Grid:
https://investors.livenationentertainment.com/financial-information/financial-results
The company will webcast a teleconference today, May 5, 2026, at 2:00 p.m. Pacific Time to discuss its financial performance, operational matters and potentially other material developments. Interested parties should visit the "News / Events" section of the company's website at investors.livenationentertainment.com to listen to the webcast. Supplemental statistical and financial information to be provided on the call, if any, will be posted to the "Financial Info" section of the website. A replay of the webcast will also be available on the Live Nation website. The link to the 1Q26 Trended Results Grid is provided above for convenience and such grid is not a part of, or incorporated into, this press release or any SEC filings that include this press release.
Notice Regarding Financial Statements
The company has provided certain financial statements at the end of this press release for reference. These financial statements should be read in conjunction with the full financial statements, and the notes thereto, set forth in the company's Annual Report on Form 10-Q for the quarter ended March 31, 2026 to be filed with the Securities and Exchange Commission today and available on the SEC's website at sec.gov.
About Live Nation Entertainment:
Live Nation Entertainment, Inc. (NYSE: LYV) is the world's leading live entertainment company comprised of global market leaders: Ticketmaster, Live Nation Concerts, and Live Nation Media & Sponsorship. For additional information, visit investors.livenationentertainment.com.
FINANCIAL HIGHLIGHTS – FIRST QUARTER
(unaudited; $ in millions)
Q1 2026
Reported
Q1 2025
Reported
Change
Q1 2026
Currency
Impacts
Q1 2026
Constant
Currency
Change at
Constant
Currency
Revenue
Concerts
$ 2,775.5
$ 2,484.1
12 %
$ (89.9)
$ 2,685.6
8 %
Ticketing
765.0
694.7
10 %
(19.0)
746.0
7 %
Sponsorship & Advertising
258.6
216.1
20 %
(12.3)
246.3
14 %
Other and Eliminations
(6.1)
(12.8)
*
0.0
(6.1)
*
$ 3,793.0
$ 3,382.1
12 %
$ (121.2)
$ 3,671.8
9 %
Consolidated Operating
Income (Loss)
$ (370.5)
$ 114.8
*
$ 12.7
$ (357.8)
*
Adjusted Operating Income (Loss)
Concerts
$ 2.9
$ 6.6
(56) %
$ 8.9
$ 11.8
79 %
Ticketing
255.6
253.1
1 %
(6.6)
249.0
(2) %
Sponsorship & Advertising
164.6
136.0
21 %
(9.5)
155.1
14 %
Other and Eliminations
(4.2)
(5.9)
*
0.1
(4.1)
*
Corporate
(47.9)
(48.7)
2 %
0.0
(47.9)
2 %
$ 371.0
$ 341.1
9 %
$ (7.1)
$ 363.9
7 %
* Percentages are not meaningful
Reconciliation of Operating Income (Loss) to Adjusted Operating Income
(unaudited; $ in millions)
Q1 2026
Q1 2025
Operating Income (Loss)
$ (370.5)
$ 114.8
Acquisition expenses
69.4
29.7
Amortization of non-recoupable ticketing contract advances
26.0
24.7
Depreciation and amortization
169.3
149.5
Gain on sale of operating assets
(6.0)
(2.2)
Governmental Investigations and Litigation
450.0
—
Stock-based compensation expense
32.8
24.6
Adjusted Operating Income
$ 371.0
$ 341.1
Reconciliations of Certain Non-GAAP Measures to Their Most Directly Comparable GAAP Measures
(unaudited; $ in millions)
Reconciliation of Free Cash Flow — Adjusted to Net Cash Provided by Operating Activities
Q1 2026
Q1 2025
Net cash provided by operating activities
$ 2,338.8
$ 1,321.3
Changes in operating assets and liabilities (working capital)
(2,546.1)
(1,056.6)
Governmental Investigations and Litigation
450.0
—
Free cash flow from earnings
$ 242.7
$ 264.7
Less: Maintenance capital expenditures
(30.0)
(14.9)
Distributions to noncontrolling interests
(38.0)
(33.7)
Free cash flow — adjusted
$ 174.7
$ 216.1
Net cash used in investing activities
$ (417.7)
$ (217.4)
Net cash provided by (used in) financing activities
$ 117.5
$ (173.2)
Reconciliation of Free Cash to Cash and Cash Equivalents
($ in millions)
March 31,
2026
March 31,
2025
Cash and cash equivalents
$ 9,077.8
$ 7,158.7
Short-term investments
43.8
64.5
Client cash
(1,810.8)
(1,559.9)
Deferred revenue — event-related
(6,601.7)
(5,395.9)
Accrued artist fees
(173.8)
(125.5)
Collections on behalf of others
(164.5)
(140.5)
Prepaid expenses — event-related
1,336.6
1,117.5
Free cash
$ 1,707.4
$ 1,118.9
Forward-Looking Statements, Non-GAAP Financial Measures and Reconciliations:
Certain statements in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to statements regarding the company's prospects for a record year in 2026 with anticipated double-digit growth, and its positioning for long-term compounding double-digit growth; expectations for operating income and adjusted operating income levels in 2026; expected Venue Nation fan growth at owned or operated venues in 2026; anticipated full year adjusted operating income growth for the company's concerts business, as well as expected full year fan attendance and anticipated shifts in seasonality by venue type, and full year margin expectations; pacing for venues opened in 2025 to reach their run-rate annual adjusted operating income across concerts and sponsorship by 2028 as well as expected IRRs, as well as expectations for show count at these venues; expectations for Venue Nation fan growth at owned or operated venues for 2026 versus 2025; expected 2026 Venue Nation new builds; anticipated 2026 preopening costs for venues under development; the projection that venues opening in 2026 will reach their run-rate annual adjusted operating income across concerts and sponsorship by 2029, as well as expected IRRs; Ticketmaster's positioning for sustained long-term growth, including full year expectations for growth in primary fee-bearing tickets, the impact to full year adjusted operating income from ongoing efforts to reduce scalper activity, and full year 2026 adjusted operating income margin expectations; expectations for full year 2026 adjusted operating income growth in the company's sponsorship & advertising business, as well as full year adjusted operating income margin for the business; expected capital expenditure levels in 2026; expectations for full year 2026 adjusted operating income to free cash flow—adjusted conversion rates; expectations for full year 2026 levels of depreciation and amortization, net interest expense, income tax expense as a percentage of adjusted operating income, accretion expense, noncontrolling interest expense, and share count.
Live Nation wishes to caution you that there are some known and unknown factors that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements, including but not limited to operational challenges in achieving strategic objectives and executing on the company's plans, the risk that the company's markets do not evolve as anticipated, the potential impact of any economic slowdown and operational challenges associated with selling tickets and staging events.
Live Nation refers you to the documents it files from time to time with the U.S. Securities and Exchange Commission, or SEC, specifically the section titled "Item 1A. Risk Factors" of the company's most recent Annual Report filed on Form 10-K, and Quarterly Reports on Form 10-Q and its Current Reports on Form 8-K, which contain and identify other important factors that could cause actual results to differ materially from those contained in the company's projections or forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date on which they are made. All subsequent written and oral forward-looking statements by or concerning Live Nation are expressly qualified in their entirety by the cautionary statements above. Live Nation does not undertake any obligation to publicly update or revise any forward-looking statements because of new information, future events or otherwise.
This press release contains certain non-GAAP financial measures as defined by SEC Regulation G. A reconciliation of each such measure to its most directly comparable GAAP financial measure, together with an explanation of why management believes that these non-GAAP financial measures provide useful information to investors, is provided herein.
Adjusted Operating Income (Loss), or AOI, is a non-GAAP financial measure that we define as operating income (loss) before certain acquisition expenses (including ongoing legal costs stemming from the Ticketmaster merger, changes in the fair value of accrued acquisition-related contingent consideration obligations, and acquisition-related severance and compensation), amortization of non-recoupable ticketing contract advances, depreciation and amortization (including goodwill impairment), loss (gain) on disposal of operating assets, and stock-based compensation expense. Due to the significant and non-recurring nature of the matters, we also exclude from AOI the impact of realized liabilities for settlements and expenses for regulatory compliance matters associated with the provision for losses arising from certain significant governmental investigations and litigations under ASC 450 - Contingencies, which are described under the heading "Governmental Investigations and Litigation" in Note 6 of the Notes to the Consolidated Financial Statements in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2026. Except as described above, ongoing legal costs associated with defense of these claims, such as attorney fees, are not excluded from AOI. We use AOI to evaluate the performance of our operating segments. We believe that information about AOI assists investors by allowing them to evaluate changes in the operating results of our portfolio of businesses separate from non-operational factors that affect net income (loss), thus providing insights into both operations and the other factors that affect reported results. AOI is not calculated or presented in accordance with GAAP. A limitation of the use of AOI as a performance measure is that it does not reflect the periodic costs of certain amortizing assets used in generating revenue in our business. Accordingly, AOI should be considered in addition to, and not as a substitute for, operating income (loss), net income (loss), and other measures of financial performance reported in accordance with GAAP. Furthermore, this measure may vary among other companies; thus, AOI as presented herein may not be comparable to similarly titled measures of other companies.
AOI margin is a non-GAAP financial measure that we calculate by dividing AOI by revenue. We use AOI margin to evaluate the performance of our operating segments. We believe that information about AOI margin assists investors by allowing them to evaluate changes in the operating results of our portfolio of businesses separate from non-operational factors that affect net income (loss), thus providing insights into both operations and the other factors that affect reported results. AOI margin is not calculated or presented in accordance with GAAP. A limitation of the use of AOI margin as a performance measure is that it does not reflect the periodic costs of certain amortizing assets used in generating revenue in our business. Accordingly, AOI margin should be considered in addition to, and not as a substitute for, operating income (loss) margin, and other measures of financial performance reported in accordance with GAAP. Furthermore, this measure may vary among other companies; thus, AOI margin as presented herein may not be comparable to similarly titled measures of other companies.
Constant Currency is a non-GAAP financial measure when applied to a GAAP financial measure. We calculate currency impacts as the difference between current period activity translated using the current period's currency exchange rates and the comparable prior period's currency exchange rates. We present constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations.
Free Cash Flow — Adjusted, or FCF, is a non-GAAP financial measure that we define as net cash provided by (used in) operating activities less changes in operating assets and liabilities, less maintenance capital expenditures, less distributions to noncontrolling interest partners. We use FCF among other measures, to evaluate the ability of operations to generate cash that is available for purposes other than maintenance capital expenditures. We believe that information about FCF provides investors with an important perspective on the cash available to service debt, make acquisitions, and for revenue generating capital expenditures. FCF is not calculated or presented in accordance with GAAP. A limitation of the use of FCF as a performance measure is that it does not necessarily represent funds available for operations and is not necessarily a measure of our ability to fund our cash needs. Accordingly, FCF should be considered in addition to, and not as a substitute for, net cash provided by (used in) operating activities and other measures of financial performance reported in accordance with GAAP. Furthermore, this measure may vary among other companies; thus, FCF as presented herein may not be comparable to similarly titled measures of other companies.
Free Cash is a non-GAAP financial measure that we define as cash and cash equivalents less ticketing-related client funds, less event-related deferred revenue, less accrued expenses due to artists and cash collected on behalf of others, plus event-related prepaids. We use free cash as a proxy for how much cash we have available to, among other things, optionally repay debt balances, make acquisitions and fund revenue generating capital expenditures. Free cash is not calculated or presented in accordance with GAAP. A limitation of the use of free cash as a performance measure is that it does not necessarily represent funds available from operations and it is not necessarily a measure of our ability to fund our cash needs. Accordingly, free cash should be considered in addition to, and not as a substitute for, cash and cash equivalents and other measures of financial performance reported in accordance with GAAP. Furthermore, this measure may vary among other companies; thus, free cash as presented herein may not be comparable to similarly titled measures of other companies.
LIVE NATION ENTERTAINMENT, INC.
CONSOLIDATED BALANCE SHEETS
(unaudited)
March 31,
2026
December 31,
2025
(in thousands)
ASSETS
Current assets
Cash and cash equivalents
$ 9,077,847
$ 7,094,200
Accounts receivable, less allowance of $78,255 and $73,912, respectively
1,965,296
2,009,055
Prepaid expenses
2,217,054
1,453,732
Other current assets
381,342
417,405
Total current assets
13,641,539
10,974,392
Property, plant and equipment, net
3,664,231
3,415,771
Operating lease assets
1,910,332
1,869,753
Intangible assets
Definite-lived intangible assets, net
1,071,290
1,078,453
Indefinite-lived intangible assets, net
368,961
369,015
Goodwill
2,933,243
2,889,178
Long-term advances
667,912
631,071
Other long-term assets
1,810,584
1,684,900
Total assets
$ 26,068,092
$ 22,912,533
LIABILITIES AND EQUITY
Current liabilities
Accounts payable, client accounts
$ 2,174,981
$ 1,941,389
Accrued expenses and accounts payable
3,562,342
3,555,811
Deferred revenue
7,410,720
4,461,959
Current portion of long-term debt, net
1,800,776
587,630
Other current liabilities
467,757
482,061
Total current liabilities
15,416,576
11,028,850
Long-term debt, net
6,709,420
7,612,018
Long-term operating lease liabilities
2,073,207
2,036,974
Other long-term liabilities
435,347
415,844
Commitments and contingent liabilities
Redeemable noncontrolling interests
951,724
924,472
Stockholders' equity
Common stock
2,333
2,328
Additional paid-in capital
1,405,279
1,455,925
Accumulated deficit
(1,431,082)
(1,041,978)
Cost of shares held in treasury
(30,396)
(30,396)
Accumulated other comprehensive loss
(85,538)
(114,872)
Total Live Nation stockholders' equity
(139,404)
271,007
Noncontrolling interests
621,222
623,368
Total equity
481,818
894,375
Total liabilities and equity
$ 26,068,092
$ 22,912,533
LIVE NATION ENTERTAINMENT, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited)
Three Months Ended March 31,
2026
2025
(in thousands except share and
per share data)
Revenue
$ 3,793,029
$ 3,382,117
Operating expenses:
Direct operating expenses
2,478,458
2,254,937
Selling, general and administrative expenses
961,519
778,922
Depreciation and amortization
169,296
149,455
Gain on disposal of operating assets
(6,022)
(2,202)
Corporate expenses
560,294
86,236
Operating income (loss)
(370,516)
114,769
Interest expense
90,522
80,343
Interest income
(39,467)
(34,061)
Equity in losses (earnings) of nonconsolidated affiliates
2,883
(479)
Other expense (income), net
(12,351)
2,953
Income (loss) before income taxes
(412,103)
66,013
Income tax expense (benefit)
(32,085)
19,711
Net income (loss)
(380,018)
46,302
Net income attributable to noncontrolling interests
9,086
23,099
Net income (loss) attributable to common stockholders of Live Nation
$ (389,104)
$ 23,203
Basic and diluted net loss per common share available
to common stockholders of Live Nation
$ (1.85)
$ (0.32)
Weighted average common shares outstanding:
Basic and diluted
232,400,991
231,220,841
Reconciliation to net loss available to common stockholders of Live Nation:
Net income (loss) attributable to common stockholders of Live Nation
$ (389,104)
$ 23,203
Accretion of redeemable noncontrolling interests
(41,279)
(98,094)
Net loss available to common stockholders of Live Nation—basic and diluted
$ (430,383)
$ (74,891)
LIVE NATION ENTERTAINMENT, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited)
Three Months Ended March 31,
2026
2025
(in thousands)
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)
$ (380,018)
$ 46,302
Reconciling items:
Depreciation
99,565
89,462
Amortization of definite-lived intangibles
69,731
59,993
Amortization of non-recoupable ticketing contract advances
26,020
24,722
Deferred income taxes
(44,693)
4,271
Amortization of debt issuance costs and discounts
5,150
3,684
Stock-based compensation expense
32,777
24,550
Unrealized changes in fair value of contingent consideration
10,409
1,169
Equity in losses of nonconsolidated affiliates, net of distributions
4,553
3,480
Provision for uncollectible accounts receivable
(1,224)
3,574
Gain on mark-to-market of investments in nonconsolidated affiliates and crypto assets
(6,189)
(5,467)
Loss (gain) on forward currency exchange contracts
(17,306)
13,361
Other, net
(6,002)
(4,485)
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions:
Decrease (increase) in accounts receivable
70,629
(70,535)
Increase in prepaid expenses and other assets
(783,967)
(592,946)
Increase (decrease) in accrued expenses, accounts payable and other liabilities
281,040
(545,945)
Increase in deferred revenue
2,978,360
2,266,061
Net cash provided by operating activities
2,338,835
1,321,251
CASH FLOWS FROM INVESTING ACTIVITIES
Advances of notes receivable
(1,944)
(6,403)
Collections of notes receivable
5,920
9,375
Investments made in nonconsolidated affiliates
(9,649)
(3,887)
Purchases of property, plant and equipment
(308,978)
(170,791)
Cash paid for acquisition of right-of-use assets
—
(20,800)
Cash paid for acquisitions, net of cash acquired
(113,203)
(31,346)
Other, net
10,115
6,457
Net cash used in investing activities
(417,739)
(217,395)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from debt, net of debt issuance costs
226,161
11,059
Payments on debt including extinguishment costs
(6,611)
(86,828)
Contributions from noncontrolling interests
11,349
4,612
Distributions to noncontrolling interests
(38,000)
(33,742)
Purchases of noncontrolling interests, net
(25,882)
(4,496)
Proceeds from exercise of stock options
783
2,606
Taxes paid for net share settlement of equity awards
(47,930)
(65,009)
Payments for deferred and contingent consideration
(1,530)
(1,242)
Other, net
(859)
(150)
Net cash provided by (used in) financing activities
117,481
(173,190)
Effect of exchange rate changes on cash, cash equivalents and restricted cash
(54,613)
131,471
Net increase in cash, cash equivalents and restricted cash
1,983,964
1,062,137
Cash, cash equivalents and restricted cash at beginning of period
7,106,986
6,106,109
Cash, cash equivalents and restricted cash at end of period
A Live Nation sign and office building stand along Hollywood Blvd, in Los Angeles, California, U.S., May 23, 2024. REUTERS/Mike Blake Purchase Licensing Rights, opens new tab
May 5 (Reuters) - Live Nation Entertainment (LYV.N), opens new tab beat analysts' estimates for first-quarter revenue on Tuesday, underscoring steady demand for concerts and live events even as the Ticketmaster parent faces mounting regulatory and legal scrutiny.
It posted quarterly revenue of $3.8 billion, above analysts' estimates of $3.57 billion, according to data compiled by LSEG.
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Demand for live music has remained resilient as fans prioritize spending on experiences despite broader economic uncertainty.
Live Nation, the world's largest concert promoter, has leaned on blockbuster tours by major artists and higher ticket prices to drive growth.
"We have already booked over 85% of our large-venue shows for the year, with show counts up year-over-year across stadiums, arenas, and amphitheaters," Live Nation CEO Michael Rapino said.
The results come as Live Nation is under increasing pressure from U.S. regulators and lawmakers over competition concerns in the live events industry.
Last month, a New York jury found that Live Nation holds illegal monopolies in the market for ticketing services to more than 200 major concert venues, and the market for dozens of large concert amphitheaters booked by artists.
Tickets sold through the end of April for 2026 Live Nation concerts were up 11% to over 107 million.
The company posted operating loss of $371 million, impacted by a $450 million legal accrual, and cautioned that 2026 operating income will be affected by the charge.
It reported a loss of $1.85 per share, compared with a loss of 32 cents per share a year earlier.
Reporting by Kritika Lamba in Bengaluru; Editing by Sahal Muhammed
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Although the revenue and EPS for Live Nation (LYV) give a sense of how its business performed in the quarter ended March 2026, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Live Nation (LYV) came out with a quarterly loss of $0.32 per share versus the Zacks Consensus Estimate of a loss of $0.27. This compares to a loss of $0.32 per share a year ago.
Live Nation Entertainment (LYV 0.25%) earned an encore on Wednesday. The Ticketmaster parent technically posted a mixed earnings report, hampered by a large legal expense. Investors applauded the results anyway, as management expects stronger profits in the upcoming quarters.
The stock closed Wednesday's trading at a 6.7% gain. It reached a peak of 8% near noon ET.
Today's Change
(
-0.25
%) $
-0.43
Current Price
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Live Nation's Q1 by the numbers Q1 revenues rose 12% year-over-year to $3.8 billion. The analyst community had expected roughly $3.6 billion.
On the bottom line, Live Nation's net losses deepened from $0.32 to $1.85 per share, well below the Street estimate of $0.36 per share. However, these generally accepted accounting practices (GAAP) figures include a $450 million charge for legal fees. The company doesn't publish adjusted earnings figures, but if I do the math myself, Live Nation would have seen positive earnings of approximately $0.08 per share without those costly legal fees.
Image source: Getty Images.
Legal drama aside, ticket sales look strong Mind you, Live Nation hasn't entirely closed the books on that large legal expense. The company has appealed several pieces of the underlying jury verdict, so the lawsuit that the Department of Justice launched in May 2024 is still in play.
Looking beyond the courtroom drama, Live Nation sees healthy concert ticket sales as the summer season draws near. In particular, the low-priced amphitheater format is off to a strong start, which makes sense in this era of budget-pinching inflation.
"Consumers still consider the live show very important in their social calendar for the year," CEO Michael Rapino said on the earnings call. "We have seen broad, strong demand across the board."
With ticket sales up double digits and most large-venue shows already booked for 2026, Live Nation's core business appears healthy. The legal saga may drag on, but investors seem willing to look past it for now.
Anders Bylund has no position in any of the stocks mentioned. The Motley Fool recommends Live Nation Entertainment. The Motley Fool has a disclosure policy.
LYV stock is moving lower. See the chart and price action here. The layoffs primarily hit engineering, product and design roles, with contractors also reduced, according to Pollstar.
Ticketmaster Global President Saumil Mehta said the cuts were aimed at "stronger prioritization," including flattening layers, consolidating ownership and putting more energy behind specific initiatives.
The timing is notable because the reductions came just after Live Nation reported first-quarter results showing continued demand for concerts and ticketing.
Live Nation posted Q1 revenue of $3.79 billion, ahead of consensus estimates of $3.57 billion, for a revenue beat of $221.8 million, according to Benzinga Pro data.
Still, the company reported a Q1 operating loss of $370.5 million and diluted EPS of negative $1.85.
Live Nation said its results were impacted by a $450 million legal accrual related to government investigations and litigation.
Ticketmaster itself remained a bright spot in the quarter. Live Nation said Ticketing revenue rose 10% year-over-year to $765 million, while Ticketmaster fee-bearing tickets transacted through April rose 9% to 138 million and gross transaction value increased 15% to $17 billion.
Management framed the layoffs as a forward-looking move rather than a reaction to weak results. Mehta told Pollstar the strong performance reflected the past, while the cuts were designed to position Ticketmaster for the next 12 to 24 months.
LYV Price Action: Live Nation Entertainment shares were down 3.03% at $162.74 at the time of publication Thursday, according to Benzinga Pro.
Over the past month, LYV has gained about 5.1% versus a 11.3% rise in the S&P 500 and is up roughly 18% year-to-date compared to the index’s 6.6% gain.
Photo: Shutterstock
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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This summer, mega artist Harry Styles will take the stage at Madison Square Garden in New York City for an exclusive 30-show residency – his only planned stop in the country and a show that's garnered intense attention since its announcement.
Despite her best efforts, Shira Elfassy won't be there.
"His tickets were absurd," Elfassy, 29, told CNBC. "It felt like an insult going in and seeing, like, not only can I not get in, not only are there no tickets left, but even then, the most basic price point is $500 for a nose-bleed seat — and this is becoming commonplace."
Instead, Elfassy said she got tickets to see other artists live, like Florence + the Machine and Olivia Rodrigo, at far lower price points. She said feeling "priced out" of some concerts is now a common occurrence.
"It's just a weird dynamic now. ... At this point, if I have to make the decision between making more summer plans or hanging out with my friends — or even just [to] pay rent — or I can go to this concert, it's a no-brainer," she said. "But it didn't used to be that way."
Elfassy represents a growing cohort of consumers who aren't willing to keep up with the rising prices for live music, creating a K-shaped demand curve where higher-income consumers are spending more — and keeping prices inflated — while lower-income consumers are pulling back.
That dynamic has played out across discretionary spending categories, like retail, dining and travel, as Americans grapple with persistent inflation, economic uncertainty and, now, soaring gas prices.
In live music, this K-shaped environment is spurring fears that the lower end of the market is falling out entirely.
Some are calling the demand shifts "blue dot fever," named for the blue dots on Ticketmaster seating maps that denote an unsold ticket. For some artists, it's forcing them to take a critical look at their performances. Post Malone, Zayn and The Pussycat Dolls are just a few examples of artists who have canceled shows or tours in recent months, with the last group openly admitting that poor ticket sales was the catalyst.
Last summer, even before the most recent pricing pressures, industry research suggested higher ticket prices were helping to prop up the overall health of the market. Goldman Sachs analysts wrote in a 2025 report that demand for live music was expected to grow at a 7.2% compounded annual growth rate between 2024 and 2030.
Average ticket price for a concert in one of the top 100 global tours, the report found, was $136 in 2024, up 50% from an average of $91 in 2019.
How inflation is changing concert spendingSeveral of the major ticketing companies told CNBC they're not seeing more show cancellations this summer than an average year.
"Of all the shows Live Nation has on the books this year, less than 1% have been cancelled," a spokesperson for the Ticketmaster parent said. "That's not 'blue dot fever' — it's a normal touring year; in fact, 2026 is shaping up to be a record with concert ticket sales up 11% for the year."
The spokesperson added that roughly 70% of tickets sold on its platform are priced under $100.
Live Nation and Ticketmaster have faced scrutiny over the company's ticketing practices and dominant influence in the music industry. The company faced legal challenges over alleged anticompetitive behavior and reached a settlement with the Department of Justice in March. A federal jury found last month that Live Nation held an anticompetitive monopoly, though the company said in a statement at the time, "The jury's verdict is not the last word on this matter."
StubHub, a ticket reseller, told CNBC that the company is seeing the K-shaped pattern take shape in live music, with demand diverging fast between various events.
While StubHub said overall concert demand is up nearly 10% year-over-year, it's not across the board. Ticket demand for stadium-scale events is up significantly, while demand for mid-size and smaller venues is waning.
The events that are struggling to sell are facing a "supply-sizing problem," according to Jill Gonzalez, head of consumer communications at StubHub. The events earning the strongest fan attention, she said, are stadium tours, residencies and marquee festivals.
"What our data makes clear is that fan demand for live music hasn't softened, but it's sharpened," Gonzalez told CNBC. "Fans are making deliberate choices about where they spend, and when they decide a show is worth it, the demand signal is as strong as anything we've seen on our platform."
Ticket platform SeatGeek said while more artists are announcing tours, the resale environment remains healthy.
"If you have more artists that are flooding the market with tours, you're going to have the gross number of cancellations pick up year-over-year, so that's expected," said Oliver Marvin, the company's senior director of strategic finance. "But the overall number, cancellations as a percentage of people who are out on tour, is not too much different than what we've seen in prior years."
He added that the company is seeing some consumers dive in for last-minute tickets out of hope the prices will drop for tours that aren't garnering as much immediate demand.
Why stadium tours still draw big demandExperts say dropping demand for some shows may be more nuanced than what meets the eye.
As prices everywhere rise, and consumers begin to be more intentional about how they're spending their money, the blame of unsold tickets may be more appropriately placed on the macroeconomic environment rather than on the artists themselves, according to Sam Howard-Spink, the director of music business at New York University.
"It's really mostly to do with the economics of live performance and touring right now, which is also at the moment, I would say, very closely tied to economic conditions and cost-of-living questions," Howard-Spink said.
Tighter spending among fans can turn a tour misstep into a disaster, he suggested, like if an artist plans dates at an inappropriately sizes venue or in an off-base market. While nostalgia for older acts can occasionally draw crowds, it's struggling to outweigh all other factors.
And while bigger artists can still sell out a stadium, less-popular acts are falling short.
"Harry Styles, Bad Bunny, Lady Gaga, Ariana Grande — these are acts of, 'I'm not really going to have too much trouble,'" he said. "But if you're talking about like ... an early 2000s band that might not just be able to pull in those crowds, maybe they are overconfident in the kinds of venues that they think that they can fill up."
Howard-Spink added that the business of music has long been considered largely "recession-resistant," even weathering the pandemic well. But because concert tickets are a scarce resource, as opposed to music streaming, it's allowed the prices to rise rapidly.
Music publicist Eric Alper noted artists couldn't have foreseen these macroeconomic factors currently at play when booking out their tours months in advance. There's also more artists on tour this year than past years, he said, crowding the schedule.
With prices broadly higher, fans are also seeking out more experiences that give them a bang for their buck, he added, as the live music scene sees a rise in residencies, along with unique new venues like The Sphere in Las Vegas.
"What people want, they want the choreography, they want the lights, they want the superior sound, they want great sightlines," Alper said. "They're not just going to sit there and spend $150 to go watch a band play with very bare bones."
Still, Alper said, he believes the diehard fans are willing to pay up.
"If you're a fan of an artist, I don't think you care about the high ticket prices as much as people think that they do," Alper said. "People want the experience, and they also want to tell people that they were there."
Warner Bros. Discovery (WBD) shares slipped on Friday after a report said Paramount Skydance (PSKY) hired a prominent lawyer to help defend its planned takeover
Shareholders are encouraged to contact the firm to discuss their rights and options at no cost or obligation. We would handle any matter on a contingent fee basis, whereby you would not be responsible for out-of-pocket payment of our legal fees or expenses.
Shareholders should contact the firm immediately as there may be limited time to enforce your rights.
, /PRNewswire/ -- Halper Sadeh LLC, an investor rights law firm, is investigating whether certain officers and directors of Live Nation Entertainment, Inc. (NYSE: LYV) breached their fiduciary duties to shareholders.
If you currently own Live Nation stock and are a long-term shareholder, you may be able to seek corporate governance reforms, the return of funds back to the company, a court-approved financial incentive award, or other relief and benefits. Please click here to learn more about your legal rights and options or contact Daniel Sadeh or Zachary Halper at (212) 763-0060 or [email protected] or [email protected].
Why Your Participation Matters:
Shareholder involvement can help improve a company's policies, practices, and oversight mechanisms to create a more transparent, accountable, and effectively managed organization, which can enhance shareholder value.
Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors.
Attorney Advertising. Prior results do not guarantee a similar outcome.
Contact Information:
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Daniel Sadeh, Esq.
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[email protected]
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https://www.halpersadeh.com
For the first time since 1999, the New York Knicks have a home NBA Finals game at the iconic Madison Square Garden arena.
The team is up 2-0 on the San Antonio Spurs, two wins away from claiming its first NBA championship in 53 years, an event that could happen before the public company that owns the team is split up.
• Madison Square Garden stock is showing positive momentum. What should traders watch with MSGE?
New York Knicks Tickets in Hot Demand The Knicks are in one of the largest TV markets and population areas for a professional sports team, making its championship run a huge revenue booster for several parties. Fans are paying up for tickets, with prices rivaling those of some Super Bowls.
Madison Square Garden Entertainment (NYSE:MSGE) owns the iconic namesake arena and is benefiting from home playoff games this season.
Madison Square Garden Sports (NYSE:MSGS) owns the New York Knicks, NHL's New York Rangers and other sports assets.
The Knicks have made the playoffs five of the past six seasons, including four straight postseasons. This marks the furthest the Knicks have made it in years, with an appearance in the NBA Finals. Last year, the team lost in the conference finals.
While the two Madison Square Garden public entities could win from the Knicks success in the playoffs, ticket companies are also benefiting from huge upfront demand for tickets and demand for resale tickets.
Ticketmaster helped the Knicks sell tickets for Game 3, set for Monday night, with hundreds of thousands of people joining a virtual line to pay thousands of dollars for tickets.
At the time of writing, the cheapest resale tickets were $4,850 on Ticketmaster and $5,197 on Stubhub.
Some Knicks fans made the trip to San Antonio for Game 1 or Game 2, where the cost to fly and buy a ticket was less expensive than what they will pay Monday for Game 3.
Live Nation could end up being one of the bigger winners from the Knicks’ postseason run, able to capture service fees and additional revenue on the tickets sold at face value by the team to the public, tickets sold to season ticket holders and the tickets sold on the resale market.
While Knicks fans could be rooting for a sweep and the team to win in four games in the best-of-seven series, investors in Live Nation or Madison Square Garden stocks may be hoping the series gets extended.
A sweep would mean only two home games in the finals, while going to Game 6 in New York would mean three home games in the finals.
The Knicks swept their opponents in the last two rounds, knocking out potential revenue by having fewer games. This year's postseason has included seven home games ahead of Monday's game. Last year, the Knicks had nine home playoff games without reaching the finals for comparison.
Madison Square Garden Sports to Get Boost TooSeaport Research Partners analyst David Joyce estimates the Knicks could get a $145 million revenue boost for its 2026 postseason success, as reported by FrontOfficeSports.
The analyst said the sweeps and fewer home games may have cost the team $29 million in missed revenue for the postseason, though.
Finals games are worth an estimated $20.3 million in revenue for the analyst, which means a sweep would be $40.6 million from the Finals, while having a third home game would mean $60.9 million in revenue.
That $145 million figure is extra revenue, as not reaching the postseason would have meant no revenue for the team over the last several weeks outside of low merchandise sales.
The analyst said the Knicks often raise their season ticket prices after making the playoffs, which could boost ticketing revenue next season. A championship could also make the team more popular and valued higher ahead of a potential spinoff by the parent company.
Analysts have been raising their price targets on Madison Square Garden Sports stock in recent weeks, potentially recognizing the extra revenue from the postseason run or seeing the boost in valuation the team could have ahead of next season.
Photo: Shutterstock
Market News and Data brought to you by Benzinga APIs
Across select amphitheaters nationwide, Lowe's is giving loyalty members exclusive perks and new ways to connect through live music all year long
, /PRNewswire/ -- Lowe's is bringing MyLowe's Rewards* and MyLowe's Pro Rewards* members exclusive live music experiences through a new multi-year partnership with Live Nation. Members can access exclusive concert perks throughout the season, including discounted kids tickets† with purchase of an adult lawn ticket, complimentary lawn chair rentals at select shows for the first fifty eligible members^ and sweepstakes for a chance to win free tickets all year long. Helping members get more from the experiences they value most, these exclusive offers unlock more ways to enjoy live music with friends and family.
Lowe’s is bringing MyLowe’s Rewards and MyLowe’s Pro Rewards members exclusive live music experiences through a new multi-year partnership with Live Nation. The partnership also makes Lowe's the first presenting partner of a new amphitheater tailgate experience Live Nation is introducing at select venues this summer. Creating a new way for fans to kick off their night out, the spaces will bring together live entertainment, food and beverage offerings and programming from select Lowe's vendor partners, with specific experiences tailored by venue at North Island Credit Union Amphitheatre, Ruoff Music Center and Jiffy Lube Live. Tailgates begin when general parking lots open, with space available on a first-come, first-served basis.
Through the partnership, Lowe's is meeting customers where they already love to spend time, creating new ways to connect through live music and shared experiences. Designed to deliver both everyday value and meaningful moments, rewards members also get additional ways to save and earn. The free MyLowe's Rewards and MyLowe's Pro Rewards programs, now with more than 30 million members combined, offer personalized savings, bonus points and access to exclusive products and seasonal perks.
Each year, millions of fans return to amphitheaters as part of their summer routines, with 80% saying their local live music venues play a role in the moments they look forward to most with family and friends.
"Music is one of the things that brings people together — families, friends and entire communities — and we love being part of the moments people look forward to all year long," said Jen Wilson, Lowe's senior vice president and chief marketing officer. "Through this partnership, we're leveraging live music to reach new and younger audiences while giving our existing members exclusive perks that make these experiences even more rewarding. It's all about helping families make the most of a night out and rewarding loyalty by showing up in meaningful ways beyond the home."
"When fans come out to a show, they want the whole night to feel special," said Russell Wallach, Global President, Media & Sponsorship at Live Nation. "Jen and the Lowe's team really understood that from the start. We saw an opportunity to build around the moments fans already love during the summer and create more ways for people to spend time together before the music even starts through our new tailgate spaces presented by Lowe's."
MyLowe's Rewards and MyLowe's Pro Rewards members can access these benefits starting this summer at participating amphitheaters, with additional perks to come throughout the year. Learn more at https://www.lowes.com/concertperks.
*Loyalty Programs subject to Terms & Conditions. See Lowes.com/Terms for full program details. Subject to change. MyLowe's Rewards Program subject to terms & conditions. Visit Lowes.com/Terms for details. Subject to change.
†MyLowe's Rewards members who receive a unique code via MyLowe's Rewards communications may purchase "2 for 1" lawn tickets (1 adult ticket and 1 child ticket) to participating concerts, while supplies last. For each participating concert, the first fifty (50) Members 18 years of age or older who enter their code at ticket check out will be able to purchase two (2) discounted tickets. Must purchase two (2) tickets and enter an eligible code to receive the offer. Ticket prices are "all in" pricing. The child using a ticket must be 12 years of age or younger and accompanied at all times at the concert by a parent or legal guardian. Offer is limited to one (1) per customer. Any customer found violating the terms of the Offer may be disqualified. Offer cannot be combined with other offers or discounts, cannot be used on past purchases, and is void where prohibited.
^The first fifty (50) MyLowe's Rewards members ("Members") at each participating concert who go to the chair rental location and show their Member ID in the Lowe's app will receive a complimentary chair rental, while supplies last. Members must be 18 years of age or older. Must have a valid concert ticket to claim offer. Offer is limited to one (1) complimentary chair per Member per concert. Offer has no cash value and is void where prohibited. Check venue policy for chair usage terms and return instructions. Sponsor may cancel or suspend the Offer at any time without notice or liability. Sponsor: Lowe's Companies, Inc.
About Live Nation Entertainment
Live Nation Entertainment (NYSE: LYV) is the world's leading live entertainment company comprised of global market leaders: Ticketmaster, Live Nation Concerts, and Live Nation Sponsorship. For additional information, visit www.livenationentertainment.com.
About Lowe's
Lowe's Companies, Inc. (NYSE: LOW) is a FORTUNE® 100 home improvement company with total fiscal year 2025 sales of more than $86 billion. Lowe's employs approximately 300,000 associates and operates over 1,750 home improvement stores, 540 branches and 120 distribution centers. Based in Mooresville, N.C., Lowe's supports the communities it serves through programs focused on creating safe, affordable housing, improving community spaces, helping to develop the next generation of skilled trade experts and providing disaster relief to communities in need. For more information, visit Lowes.com.
Contact:
Lowe's Media Team
Amanda Caskey
[email protected]
Live Nation Media Team
Danika Azzarelli
[email protected]
On the earnings front, American Express reported upbeat first-quarter 2026 results on April 23. The company reported quarterly revenue (net of interest expense) growth of 10% year-over-year to $18.91 billion, topping the analyst consensus estimate of $18.62 billion.
Higher Card Member spending drove the increase, along with higher net interest income, growth in card balances and strong card fee growth.
Don't forget to check out our premarket coverage here
Rob Sechan, CEO of NewEdge Wealth, named Eli Lilly and Company (NYSE:LLY) as his final trade.
According to recent news, Eli Lilly announced on June 9 that the U.S. Food and Drug Administration has approved the company's EBGLYSS (lebrikizumab-lbkz) for one maintenance dose every eight weeks in patients with moderate-to-severe atopic dermatitis.
Joshua Brown, co-founder and CEO of Ritholtz Wealth Management, said Live Nation Entertainment, Inc. (NYSE:LYV) is on the verge of a new 52-week high.
Morgan Stanley analyst Cameron Mansson-Perrone, on Wednesday, maintained Live Nation Entertainment with an Overweight rating and raised the price target from $185 to $200.
Price Action Eli Lilly shares gained 2.2% to close at $1,160.95 on Thursday. American Express shares rose 1.6% to settle at $318.49 during the session. Live Nation shares climbed 2.9% to close at $172.33 on Thursday. Photo via Shutterstock
Market News and Data brought to you by Benzinga APIs
TAIZHOU, China, March 23, 2026 (GLOBE NEWSWIRE) -- China SXT Pharmaceutics, Inc. (Nasdaq: SXTC) (the “Company” or “SXTC”), a specialty pharmaceutical company focusing on the research, development, manufacturing, marketing, and sales of Traditional Chinese Medicine Pieces (“TCMPs”), including Advanced TCMPs (Directly-Oral TCMP and After-Soaking-Oral TCMP), fine TCMPs, regular TCMPs, and TCM Homologous Supplements (“TCMHS”), today announced that upon the market opening on March 24, 2026, the Company’s Class A Ordinary Shares will be traded on The Nasdaq Stock Market under the symbol “SXTC”.
On July 28, 2025, the Company held a special meeting of shareholders (the “Meeting”). At the Meeting, shareholders approved a change to the Company’s authorized share capital to establish a dual class share structure by (i) creating a new class of shares consisting of unlimited Class B Ordinary Shares, which entitle the holder to fifty (50) votes per Class B Ordinary Share on any resolution of shareholders, and (ii) designating the Company’s existing Ordinary Shares as Class A Ordinary Shares, each with no par value (the “Share Re-classification”). The Share Re-classification became effective upon filing of the Amended and Restated Memorandum and Articles of Association with the Companies Registry of the British Virgin Islands by the Company. The Company is authorized to issue an unlimited number of shares, divided into two Classes consisting of Class A Ordinary Shares with no par value and Class B Ordinary Shares with no par value.
Upon the effectuation of the Share Re-classification, shareholders holding shares through a bank, broker or other nominee will have their shares automatically adjusted to reflect the Share Re-classification. Beneficial holders may contact their bank, broker or nominee for more information. Please direct any questions to your broker or the Company's transfer agent, Transhare Corporation, by calling +1 303-662-1122.
About China SXT Pharmaceuticals, Inc.
Founded in 2005 and headquartered in Taizhou City, Jiangsu Province, China, China SXT Pharmaceuticals, Inc. is an innovative pharmaceutical company focusing on the research, development, manufacture, marketing and sales of traditional Chinese medicine pieces, which is a type of Traditional Chinese Medicine that has been processed to be ready for use. For more information, please visit www.sxtchina.com.
Safe Harbor Statement
This press release contains forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. The Company’s actual results may differ materially from those expressed in any forward-looking statements as a result of various factors and uncertainties. The reports filed by the Company with the Securities and Exchange Commission discuss these and other important factors and risks that may affect the Company’s business, results of operations and financial conditions. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.
Congress Asset Management Co. grew its position in Sensient Technologies Corporation (NYSE: SXT) by 2.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 734,573 shares of the specialty chemicals company's stock after purchasing an additional 17,935 shares
Unprecedented demand for natural colors spurs significant capital investment in Sensient's Natural Color Manufacturing Capacity, including expansion of largest production site in St. Louis, Missouri
, /PRNewswire/ -- On March 23rd, Sensient Food Colors, a division of Sensient Technologies (NYSE: SXT), officially celebrated the commencement of a major expansion at its largest natural color plant, which is located in St. Louis, Missouri. The expansion, coined Project Prism, is one of the many capital investments planned by Sensient to support the food and beverage industry's rapid transition away from artificial colors in the United States. Sensient expects to spend up to $250 million in the coming years to expand its natural color manufacturing capacity, supply chain, and personnel.
Sensient Project Prism Groundbreaking Event, March 2026
Sensient Project Prism Groundbreaking Event, March 2026
Sensient Project Prism Groundbreaking Event, March 2026
Sensient Project Prism Groundbreaking Event, March 2026
Sensient Project Prism Groundbreaking Event, March 2026
Sensient Project Prism Groundbreaking Event, March 2026
Sensient Project Prism Groundbreaking Event, March 2026
The St. Louis natural colors plant expansion is being done in partnership with Burns & McDonnell and will add 28,800 square feet of specialized processing and production capacity onto Sensient's existing 500,000 square foot manufacturing facility.
"Sensient has taken a defining role in accelerating the industry's transition to natural color solutions. We are reinforcing our leadership position by making significant investments in capacity and infrastructure to facilitate the natural color conversion in the United States. The groundbreaking ceremony marks a pivotal milestone in our mission to better serve customers and lead this industry-wide change," stated Sensient Colors President, Steve Morris.
The groundbreaking ceremony was attended by distinguished guests, including Missouri Lieutenant Governor David Wasinger, and the President and CEO of the Regional Business Council of St. Louis, Karen Branding, and received coverage from local media outlets.
Sensient's St. Louis plant expansion is a testament to the company's service-first model and commitment to customer satisfaction and natural color innovation.
About Sensient Colors LLC
Sensient Colors brings life to products, adding color and visual enjoyment to food and beverage applications worldwide. Offering unparalleled color innovation and proprietary technologies, Sensient Food Colors applies industry defining color expertise, enhancing brand value through premium sensory appeal and performance. Sensient Colors LLC is headquartered in St. Louis, Missouri.
About Sensient Technologies
Sensient Technologies Corporation is a leading global manufacturer and marketer of colors, flavors, and other specialty ingredients. Sensient uses advanced technologies and robust global supply chain capabilities to develop specialized solutions for food and beverages, as well as products that serve the pharmaceutical, nutraceutical, and personal care industries. Sensient's customers range in size from small entrepreneurial businesses to major international manufacturers representing some of the world's best-known brands. Sensient is headquartered in Milwaukee, Wisconsin. www.sensient.com
Media Contact Information:
Brittany V. Jones
Sensient Food Colors
Director of Marketing
[email protected]
+1 (557) 213-7278
JPMorgan Chase & Co. increased its position in shares of Sensient Technologies Corporation (NYSE:SXT – Free Report) by 47.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 98,683 shares of the specialty chemicals company’s stock after purchasing an additional 31,777 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.23% of Sensient Technologies worth $9,261,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in SXT. Eminence Capital LP acquired a new stake in shares of Sensient Technologies during the second quarter worth approximately $99,117,000. Westwood Holdings Group Inc. bought a new position in shares of Sensient Technologies in the second quarter valued at approximately $91,280,000. Congress Asset Management Co. boosted its holdings in shares of Sensient Technologies by 4.4% in the 3rd quarter. Congress Asset Management Co. now owns 716,638 shares of the specialty chemicals company’s stock worth $67,257,000 after acquiring an additional 29,901 shares in the last quarter. Norges Bank acquired a new position in shares of Sensient Technologies in the 2nd quarter worth approximately $50,728,000. Finally, Parsifal Capital Management LP bought a new stake in Sensient Technologies during the 3rd quarter worth approximately $46,784,000. 90.86% of the stock is owned by institutional investors.
Sensient Technologies Price Performance Shares of SXT stock opened at $86.83 on Monday. Sensient Technologies Corporation has a 1 year low of $67.79 and a 1 year high of $121.54. The company has a current ratio of 4.10, a quick ratio of 1.53 and a debt-to-equity ratio of 0.59. The firm’s 50 day moving average is $93.39 and its 200-day moving average is $94.75. The firm has a market capitalization of $3.69 billion, a price-to-earnings ratio of 27.48 and a beta of 0.55.
Sensient Technologies (NYSE:SXT – Get Free Report) last issued its quarterly earnings results on Friday, February 13th. The specialty chemicals company reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.06). Sensient Technologies had a net margin of 8.34% and a return on equity of 12.82%. The company had revenue of $393.45 million during the quarter, compared to analyst estimates of $395.70 million. During the same period in the prior year, the business earned $0.70 EPS. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. Sensient Technologies has set its FY 2026 guidance at 3.600-3.800 EPS. Sell-side analysts forecast that Sensient Technologies Corporation will post 3.1 EPS for the current fiscal year.
Sensient Technologies Announces Dividend The company also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Tuesday, February 3rd were given a dividend of $0.41 per share. The ex-dividend date was Tuesday, February 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.9%. Sensient Technologies’s payout ratio is presently 51.90%.
Analyst Ratings Changes Several brokerages have issued reports on SXT. Weiss Ratings reiterated a “hold (c+)” rating on shares of Sensient Technologies in a research report on Monday, December 29th. Zacks Research cut Sensient Technologies from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 17th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Sensient Technologies currently has a consensus rating of “Hold” and an average target price of $110.00.
Check Out Our Latest Analysis on SXT
Sensient Technologies Profile (Free Report)
Sensient Technologies Corporation is a global leader in the manufacture and supply of colors, flavors and fragrances for a broad range of end-markets. The company develops and produces ingredients that enhance the appearance, taste and scent of products in the food, beverage, nutraceutical, pharmaceutical, personal care and household sectors. Its portfolio includes natural and synthetic colorants, botanical and artificial flavor systems, fragrance compounds and specialty chemical offerings tailored to customer specifications.
Within its flavor and fragrance division, Sensient provides custom formulations for sweet, savory and umami taste profiles along with fragrance blends for personal care and cosmetic applications.
Further Reading Five stocks we like better than Sensient Technologies Want to see what other hedge funds are holding SXT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sensient Technologies Corporation (NYSE:SXT – Free Report).
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SG Americas Securities LLC increased its stake in shares of Sensient Technologies Corporation (NYSE:SXT – Free Report) by 79.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,176 shares of the specialty chemicals company’s stock after buying an additional 9,807 shares during the period. SG Americas Securities LLC owned about 0.05% of Sensient Technologies worth $2,083,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Diversified Trust Co. grew its holdings in shares of Sensient Technologies by 68.8% in the 4th quarter. Diversified Trust Co. now owns 7,162 shares of the specialty chemicals company’s stock worth $673,000 after acquiring an additional 2,920 shares during the period. Covea Finance raised its holdings in Sensient Technologies by 17.1% during the fourth quarter. Covea Finance now owns 95,300 shares of the specialty chemicals company’s stock worth $8,953,000 after purchasing an additional 13,900 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Sensient Technologies by 47.5% during the third quarter. JPMorgan Chase & Co. now owns 98,683 shares of the specialty chemicals company’s stock worth $9,261,000 after purchasing an additional 31,777 shares in the last quarter. Tudor Investment Corp ET AL purchased a new stake in Sensient Technologies during the third quarter worth $4,142,000. Finally, AIA Group Ltd acquired a new stake in Sensient Technologies in the third quarter valued at $1,844,000. 90.86% of the stock is owned by hedge funds and other institutional investors.
Sensient Technologies Stock Performance NYSE SXT opened at $92.17 on Friday. Sensient Technologies Corporation has a fifty-two week low of $67.79 and a fifty-two week high of $121.54. The stock has a market cap of $3.92 billion, a price-to-earnings ratio of 29.17 and a beta of 0.62. The business has a fifty day moving average of $92.69 and a 200-day moving average of $94.31. The company has a quick ratio of 1.53, a current ratio of 4.10 and a debt-to-equity ratio of 0.59.
Sensient Technologies (NYSE:SXT – Get Free Report) last posted its quarterly earnings data on Friday, February 13th. The specialty chemicals company reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.06). The company had revenue of $393.45 million for the quarter, compared to analyst estimates of $395.70 million. Sensient Technologies had a net margin of 8.34% and a return on equity of 12.82%. The firm’s revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.70 EPS. Sensient Technologies has set its FY 2026 guidance at 3.600-3.800 EPS. As a group, analysts predict that Sensient Technologies Corporation will post 3.1 earnings per share for the current fiscal year.
Sensient Technologies Dividend Announcement The company also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Tuesday, February 3rd were paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Tuesday, February 3rd. Sensient Technologies’s dividend payout ratio (DPR) is currently 51.90%.
Wall Street Analyst Weigh In Several research firms have recently issued reports on SXT. UBS Group assumed coverage on Sensient Technologies in a research note on Wednesday. They set a “buy” rating and a $115.00 price target for the company. Weiss Ratings restated a “hold (c+)” rating on shares of Sensient Technologies in a report on Monday, December 29th. Finally, Zacks Research cut shares of Sensient Technologies from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 17th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $111.67.
Check Out Our Latest Stock Report on SXT
About Sensient Technologies (Free Report)
Sensient Technologies Corporation is a global leader in the manufacture and supply of colors, flavors and fragrances for a broad range of end-markets. The company develops and produces ingredients that enhance the appearance, taste and scent of products in the food, beverage, nutraceutical, pharmaceutical, personal care and household sectors. Its portfolio includes natural and synthetic colorants, botanical and artificial flavor systems, fragrance compounds and specialty chemical offerings tailored to customer specifications.
Within its flavor and fragrance division, Sensient provides custom formulations for sweet, savory and umami taste profiles along with fragrance blends for personal care and cosmetic applications.
See Also Five stocks we like better than Sensient Technologies
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MILWAUKEE--(BUSINESS WIRE)--Sensient Technologies Corporation (NYSE: SXT) will hold its earnings call and webcast to discuss 2026 first quarter results at 8:30 a.m. CDT on Friday, April 24, 2026. Investors may access the live webcast on the Company’s web site at investor.sensient.com. Alternatively, investors may join the conference call by contacting Chorus Call Inc. at (844) 492-3726 or (412) 317-1078.
A webcast replay will be available on the Company’s web site following the call. The call transcript will be available on the Company’s web site on or after April 28, 2026.
About Sensient Technologies
Sensient Technologies Corporation is a leading global manufacturer and marketer of colors, flavors, and other specialty ingredients. Sensient uses advanced technologies and robust global supply chain capabilities to develop specialized solutions for food and beverages, as well as products that serve the pharmaceutical, nutraceutical, and personal care industries. Sensient’s customers range in size from small entrepreneurial businesses to major international manufacturers representing some of the world’s best-known brands. Sensient is headquartered in Milwaukee, Wisconsin.
Sensient Technologies Corporation (NYSE:SXT – Get Free Report) was the recipient of a large drop in short interest during the month of March. As of March 31st, there was short interest totaling 1,119,341 shares, a drop of 13.9% from the March 15th total of 1,299,514 shares. Currently, 2.7% of the company’s shares are sold short. Based on an average daily trading volume, of 330,355 shares, the short-interest ratio is presently 3.4 days.
Institutional Trading of Sensient Technologies Hedge funds have recently added to or reduced their stakes in the business. Salomon & Ludwin LLC raised its stake in Sensient Technologies by 146.2% during the 4th quarter. Salomon & Ludwin LLC now owns 293 shares of the specialty chemicals company’s stock worth $28,000 after buying an additional 174 shares during the period. Farther Finance Advisors LLC raised its stake in Sensient Technologies by 313.5% during the 4th quarter. Farther Finance Advisors LLC now owns 306 shares of the specialty chemicals company’s stock worth $29,000 after buying an additional 232 shares during the period. State of Wyoming acquired a new stake in Sensient Technologies during the 3rd quarter worth $32,000. Kohmann Bosshard Financial Services LLC acquired a new stake in Sensient Technologies during the 4th quarter worth $33,000. Finally, Advisors Asset Management Inc. raised its stake in Sensient Technologies by 53.1% during the 4th quarter. Advisors Asset Management Inc. now owns 401 shares of the specialty chemicals company’s stock worth $38,000 after buying an additional 139 shares during the period. Institutional investors and hedge funds own 90.86% of the company’s stock.
Analyst Upgrades and Downgrades A number of brokerages have commented on SXT. UBS Group began coverage on Sensient Technologies in a research report on Wednesday, April 1st. They issued a “buy” rating and a $115.00 price objective on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Sensient Technologies in a research report on Monday, December 29th. Finally, Zacks Research downgraded Sensient Technologies from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 17th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Sensient Technologies presently has an average rating of “Hold” and an average price target of $111.67.
Get Our Latest Analysis on SXT
Sensient Technologies Stock Performance SXT stock opened at $100.52 on Friday. The business’s fifty day moving average is $92.46 and its 200-day moving average is $93.98. The company has a quick ratio of 1.53, a current ratio of 4.10 and a debt-to-equity ratio of 0.59. The company has a market cap of $4.28 billion, a P/E ratio of 31.81 and a beta of 0.62. Sensient Technologies has a twelve month low of $72.60 and a twelve month high of $121.54.
Sensient Technologies (NYSE:SXT – Get Free Report) last posted its quarterly earnings results on Friday, February 13th. The specialty chemicals company reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.06). The company had revenue of $393.45 million during the quarter, compared to analyst estimates of $395.70 million. Sensient Technologies had a net margin of 8.34% and a return on equity of 12.82%. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period last year, the company earned $0.70 EPS. Sensient Technologies has set its FY 2026 guidance at 3.600-3.800 EPS. Equities research analysts forecast that Sensient Technologies will post 3.1 EPS for the current year.
Sensient Technologies Company Profile (Get Free Report)
Sensient Technologies Corporation is a global leader in the manufacture and supply of colors, flavors and fragrances for a broad range of end-markets. The company develops and produces ingredients that enhance the appearance, taste and scent of products in the food, beverage, nutraceutical, pharmaceutical, personal care and household sectors. Its portfolio includes natural and synthetic colorants, botanical and artificial flavor systems, fragrance compounds and specialty chemical offerings tailored to customer specifications.
Within its flavor and fragrance division, Sensient provides custom formulations for sweet, savory and umami taste profiles along with fragrance blends for personal care and cosmetic applications.
Read More Five stocks we like better than Sensient Technologies Receive News & Ratings for Sensient Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sensient Technologies and related companies with MarketBeat.com's FREE daily email newsletter.
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MILWAUKEE--(BUSINESS WIRE)--The Board of Directors of Sensient Technologies Corporation (NYSE: SXT) has declared a regular quarterly cash dividend on its common stock of $0.41 per share. The cash dividend will be paid on June 1, 2026, to shareholders of record on May 11, 2026.
About Sensient Technologies
Sensient Technologies Corporation is a leading global manufacturer and marketer of colors, flavors, and other specialty ingredients. Sensient uses advanced technologies and robust global supply chain capabilities to develop specialized solutions for food and beverages, as well as products that serve the pharmaceutical, nutraceutical, and personal care industries. Sensient’s customers range in size from small entrepreneurial businesses to major international manufacturers representing some of the world’s best-known brands. Sensient is headquartered in Milwaukee, Wisconsin.
On April 23, 2026, Sensient Technologies Corp (SXT) shares rose 3.7% today, bringing the current price to $99.23. The stock has experienced a 52-week range of $
MILWAUKEE--(BUSINESS WIRE)--Sensient Technologies Corporation (NYSE: SXT), a leading provider of flavors and colors for the food, pharmaceutical, and personal care markets, today reported financial results for the first quarter ended March 31, 2026.
First Quarter Consolidated Results
Reported revenue increased 11.1% to $435.8 million in the first quarter of 2026 versus last year’s first quarter results of $392.3 million. On a local currency basis(1), revenue increased 7.2%. Reported operating income increased 24.7% to $66.7 million compared to $53.5 million recorded in last year’s first quarter. In the first quarter of 2025, the Company recorded $2.9 million of costs related to its Portfolio Optimization Plan versus no costs recorded in the first quarter of 2026. Local currency adjusted operating income(1) and local currency adjusted EBITDA(1) were up 12.2% and 10.4%, respectively, in the first quarter. Reported earnings per share increased 28.4% to $1.04 in the first quarter of 2026 compared to 81 cents in the first quarter of 2025. Local currency adjusted diluted EPS(1) increased 14.0% in the first quarter. “Sensient delivered strong results to start off the year. We executed on our strategy and continue to strengthen our position for the opportunities ahead, particularly in the area of natural colors. I remain very confident about our performance and am pleased to increase our guidance for 2026,” said Paul Manning, Sensient’s Chairman, President, and Chief Executive Officer.
First Quarter Group Results
Reported Local Currency(1) Revenue Quarter Quarter Flavors & Extracts 4.2%
1.7%
Color 18.1%
12.3%
Asia Pacific 8.0%
4.7%
Total Revenue 11.1%
7.2%
Reported Local Currency Adjusted(1) Operating Income Quarter Quarter Flavors & Extracts 7.0%
5.1%
Color 20.7%
13.2%
Asia Pacific 18.4%
14.5%
Total Operating Income 24.7%
12.2%
The Flavors & Extracts Group reported first quarter 2026 revenue of $201.8 million, an increase of $8.1 million versus the prior year’s first quarter. The Group’s revenue increase was driven primarily by higher prices and volume growth. Segment operating income was $26.8 million in the first quarter of 2026, an increase of $1.8 million compared to the prior year’s first quarter.
The Color Group reported revenue of $198.2 million in the first quarter of 2026, an increase of $30.4 million compared to the prior year’s first quarter. The Group’s revenue increase was driven by strong volume growth and higher prices across the Group. Segment operating income was $42.1 million in the first quarter of 2026, an increase of $7.2 million compared to the prior year’s first quarter results.
The Asia Pacific Group reported revenue of $45.3 million in the first quarter of 2026, an increase of $3.4 million compared to the prior year’s first quarter. The Group’s revenue increase was driven by strong volume growth and higher prices across the Group. Segment operating income was $11.2 million in the quarter, an increase of $1.7 million compared to the prior year’s first quarter.
Corporate & Other reported operating expenses were $13.3 million in the first quarter of 2026, compared to $15.8 million of operating expenses reported in the prior year’s first quarter. The lower operating expenses were primarily due to Portfolio Optimization Plan costs in the prior year’s first quarter. Local currency adjusted operating expenses(1) for Corporate & Other increased $0.4 million compared to the prior year’s first quarter.
2026 OUTLOOK
Metric Current Guidance Prior Guidance Local Currency Revenue(1) High Single-Digit to Double-Digit Growth Mid-Single-Digit to Double-Digit Growth Local Currency Adjusted EBITDA(1) High Single-Digit to Double-Digit Growth Mid-Single-Digit to Double-Digit Growth Diluted EPS (GAAP) Between $3.70 and $3.90* Between $3.60 and $3.80* Local Currency Adjusted Diluted EPS(1) High Single-Digit to Double-Digit Growth Mid-Single-Digit to High Single-Digit Growth *Based on current exchange rates, foreign currency impact is expected to be immaterial for the year. The Company’s guidance is based on current conditions and economic and market trends in the markets in which the Company operates and is subject to various risks and uncertainties as described below.
USE OF NON-GAAP FINANCIAL MEASURES
The Company’s non-GAAP financial measures eliminate the impact of certain items, which, depending on the measure, include: currency movements, depreciation and amortization, Portfolio Optimization Plan costs, and non-cash share-based compensation. These measures are provided to enhance the overall understanding of the Company’s performance when viewed together with the GAAP results. Refer to “Reconciliation of Non-GAAP Amounts” at the end of this release.
CONFERENCE CALL
The Company will host a conference call to discuss its 2026 first quarter financial results at 8:30 a.m. CDT on Friday, April 24, 2026. To participate in the conference call, contact Chorus Call Inc. at (844) 492-3726 or (412) 317-1078, and ask to join the Sensient Technologies Corporation conference call. Alternatively, the call can be accessed by using the webcast link that is available on the Investor Information section of the Company’s web site at www.sensient.com.
A replay of the call will be available one hour after the end of the conference call through May 1, 2026 by calling (855) 669-9658 and using access code 1602690. An audio replay and written transcript of the call will also be posted on the Investor Information section of the Company’s web site at www.sensient.com on or after April 28, 2026.
This release contains statements that may constitute “forward-looking statements” within the meaning of Federal securities laws including in the quote from our Chairman, President, and Chief Executive Officer and under “2026 Outlook” above. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, and other factors concerning the Company’s operations and business environment. Important factors that could cause actual results to differ materially from those suggested by these forward-looking statements and that could adversely affect the Company’s future financial performance include the following: the Company’s ability to manage general business, economic, and capital market conditions, including actions taken by customers in response to such market conditions, and the impact of recessions and economic downturns; the impact of macroeconomic and geopolitical volatility, including inflation and shortages impacting the availability and cost of raw materials, energy, and other supplies, disruptions and delays in the Company’s supply chain, and the conflicts between Russia and Ukraine and in the Middle East; industry, regulatory, legal, and economic factors related to the Company’s domestic and international business; the effects of tariffs, trade barriers, and disputes; the availability and cost of labor, logistics, and transportation; the pace and nature of new product introductions by the Company and the Company’s customers; the Company’s ability to anticipate and respond to changing consumer preferences, changing technologies, and changing regulations; the Company’s ability to successfully implement its growth strategies; the outcome of the Company’s various productivity-improvement and cost-reduction efforts, acquisition and divestiture activities, and Portfolio Optimization Plan; growth in markets for products in which the Company competes; industry and customer acceptance of price increases; actions by competitors; the Company’s ability to enhance its innovation efforts and drive cost efficiencies; currency exchange rate fluctuations; and other factors included in “Risk Factors” in the Company's Annual Report on Form 10-K for the year ended December 31, 2025, and in other documents that the Company files with the SEC. The risks and uncertainties identified above are not the only risks the Company faces. Additional risks and uncertainties not presently known to the Company or that it currently believes to be immaterial also may adversely affect the Company. Should any known or unknown risks and uncertainties develop into actual events, these developments could have material adverse effects on our business, financial condition, and results of operations. This release contains time-sensitive information that reflects management’s best analysis only as of the date of this release. Except to the extent required by applicable laws, the Company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied herein will not be realized.
ABOUT SENSIENT TECHNOLOGIES
Sensient Technologies Corporation is a leading global manufacturer and marketer of colors, flavors, and other specialty ingredients. Sensient uses advanced technologies and robust global supply chain capabilities to develop specialized solutions for food and beverages, as well as products that serve the pharmaceutical, nutraceutical, and personal care industries. Sensient’s customers range in size from small entrepreneurial businesses to major international manufacturers representing some of the world’s best-known brands. Sensient is headquartered in Milwaukee, Wisconsin.
www.sensient.com
Sensient Technologies Corporation (In thousands, except percentages and per share amounts) (Unaudited) Consolidated Statements of Earnings Three Months Ended March 31, 2026
2025
% Change
Revenue $
435,834
$
392,325
11.1
%
Cost of products sold 283,146
260,548
8.7
%
Selling and administrative expenses 85,960
78,247
9.9
%
Operating income 66,728
53,530
24.7
%
Interest expense 7,902
7,341
Earnings before income taxes 58,826
46,189
Income taxes 14,656
11,727
Net earnings $
44,170
$
34,462
28.2
%
Earnings per share of common stock: Basic $
1.04
$
0.82
Diluted $
1.04
$
0.81
Average common shares outstanding: Basic 42,294
42,197
Diluted 42,671
42,469
Results by Segment Three Months Ended March 31, Revenue
2026
2025
% Change
Flavors & Extracts $
201,825
$
193,681
4.2
%
Color 198,176
167,750
18.1
%
Asia Pacific 45,255
41,901
8.0
%
Intersegment elimination (9,422
)
(11,007
)
Consolidated $
435,834
$
392,325
11.1
%
Operating Income Flavors & Extracts $
26,750
$
24,989
7.0
%
Color 42,065
34,852
20.7
%
Asia Pacific 11,180
9,442
18.4
%
Corporate & Other (13,267
)
(15,753
)
Consolidated $
66,728
$
53,530
24.7
%
Sensient Technologies Corporation (In thousands) (Unaudited) Consolidated Condensed Balance Sheets March 31,
December 31,
2026
2025
Cash and cash equivalents $
38,542
$
36,533
Trade accounts receivable 342,295
305,380
Inventories 681,730
678,220
Prepaid expenses and other current assets 58,971
59,717
Fixed assets held for sale -
1,598
Total Current Assets 1,121,538
1,081,448
Goodwill & intangible assets (net) 446,282
449,827
Property, plant, and equipment (net) 550,555
539,296
Other assets 169,213
173,566
Total Assets $
2,287,588
$
2,244,137
Trade accounts payable $
114,222
$
138,344
Short-term borrowings 232
352
Other current liabilities 109,259
124,887
Total Current Liabilities 223,713
263,583
Long-term debt 767,558
709,232
Accrued employee and retiree benefits 24,163
24,045
Other liabilities 53,273
53,763
Shareholders' Equity 1,218,881
1,193,514
Total Liabilities and Shareholders' Equity $
2,287,588
$
2,244,137
Sensient Technologies Corporation (In thousands, except per share amounts) (Unaudited) Consolidated Statements of Cash Flows Three Months Ended March 31, 2026
2025
Cash flows from operating activities: Net earnings $
44,170
$
34,462
Adjustments to arrive at net cash provided by operating activities: Depreciation and amortization 15,538
15,074
Share-based compensation expense 3,776
2,900
Net (gain) loss on assets (305
)
46
Portfolio Optimization Plan costs -
831
Deferred income taxes 1,897
1,282
Changes in operating assets and liabilities: Trade accounts receivable (37,718
)
(20,780
)
Inventories (5,360
)
7,202
Prepaid expenses and other assets (270
)
(8,064
)
Trade accounts payable and other accrued expenses (22,837
)
(25,859
)
Accrued salaries, wages, and withholdings (15,273
)
(21,665
)
Income taxes 2,562
4,989
Other liabilities 203
604
Net cash used in operating activities (13,617
)
(8,978
)
Cash flows from investing activities: Acquisition of property, plant, and equipment (28,737
)
(16,854
)
Proceeds from sale of assets 2,016
7
Acquisition of new business -
(4,349
)
Other investing activities (200
)
(88
)
Net cash used in investing activities (26,921
)
(21,284
)
Cash flows from financing activities: Proceeds from additional borrowings 140,139
66,449
Debt payments (76,867
)
(10,771
)
Dividends paid (17,426
)
(17,376
)
Other financing activities (3,447
)
(2,341
)
Net cash provided by financing activities 42,399
35,961
Effect of exchange rate changes on cash and cash equivalents 148
249
Net increase in cash and cash equivalents 2,009
5,948
Cash and cash equivalents at beginning of period 36,533
26,626
Cash and cash equivalents at end of period $
38,542
$
32,574
Supplemental Information Three Months Ended March 31, 2026
2025
Dividends paid per share $
0.41
$
0.41
Sensient Technologies Corporation
(In thousands, except percentages and per share amounts)
(Unaudited)
Reconciliation of Non-GAAP Amounts
The Company's results for the three months ended March 31, 2026 and 2025 include adjusted operating income, adjusted net earnings, and adjusted diluted earnings per share, which, in each case, exclude Portfolio Optimization Plan costs.
Three Months Ended March 31,
2026
2025
% Change
Operating income (GAAP) $
66,728
$
53,530
24.7
%
Portfolio Optimization Plan costs – Cost of products sold -
1,814
Portfolio Optimization Plan costs – Selling and administrative expenses -
1,050
Adjusted operating income $
66,728
$
56,394
18.3
%
Net earnings (GAAP) $
44,170
$
34,462
28.2
%
Portfolio Optimization Plan costs, before tax -
2,864
Tax impact of Portfolio Optimization Plan costs(1) -
(702
)
Adjusted net earnings $
44,170
$
36,624
20.6
%
Diluted earnings per share (GAAP) $
1.04
$
0.81
28.4
%
Portfolio Optimization Plan costs, net of tax -
0.05
Adjusted diluted earnings per share $
1.04
$
0.86
20.9
%
Note: Earnings per share calculations may not foot due to rounding differences. (1) Tax impact adjustments were determined based on the nature of the underlying non-GAAP adjustments and their relevant jurisdictional tax rates. Results by Segment Three Months Ended March 31, Adjusted
Adjusted
Operating Income 2026
Adjustments(2)
2026
2025
Adjustments(2)
2025
Flavors & Extracts $
26,750
$
-
$
26,750
$
24,989
$
-
$
24,989
Color 42,065
-
42,065
34,852
-
34,852
Asia Pacific 11,180
-
11,180
9,442
-
9,442
Corporate & Other (13,267
)
-
(13,267
)
(15,753
)
2,864
(12,889
)
Consolidated $
66,728
$
-
$
66,728
$
53,530
$
2,864
$
56,394
(2) Adjustments consist of Portfolio Optimization Plan costs. The following table summarizes the percentage change in the 2026 results compared to the 2025 results for the corresponding periods.
Three Months Ended March 31, 2026
Revenue Total
Foreign
Exchange
Rates
Adjustments(3)
Local
Currency
Adjusted
Flavors & Extracts 4.2
%
2.5
%
N/A
1.7
%
Color 18.1
%
5.8
%
N/A
12.3
%
Asia Pacific 8.0
%
3.3
%
N/A
4.7
%
Total Revenue 11.1
%
3.9
%
N/A
7.2
%
Operating Income Flavors & Extracts 7.0
%
1.9
%
0.0
%
5.1
%
Color 20.7
%
7.5
%
0.0
%
13.2
%
Asia Pacific 18.4
%
3.9
%
0.0
%
14.5
%
Corporate & Other (15.8
%)
0.0
%
(18.7
%)
2.9
%
Total Operating Income 24.7
%
6.5
%
6.0
%
12.2
%
Diluted Earnings Per Share 28.4
%
7.4
%
7.0
%
14.0
%
Adjusted EBITDA 15.7
%
5.3
%
N/A
10.4
%
(3) Adjustments consist of Portfolio Optimization Plan costs.
Sensient Technologies Corporation (In thousands, except percentages) (Unaudited) Reconciliation of Non-GAAP Amounts - Continued The following table summarizes the reconciliation between Operating Income (GAAP) and Adjusted EBITDA for the three months ended March 31, 2026 and 2025. Three Months Ended March 31,
2026
2025
% Change
Operating income (GAAP) $
66,728
$
53,530
24.7
%
Depreciation and amortization 15,538
15,074
Share-based compensation expense 3,776
2,900
Portfolio Optimization Plan costs, before tax -
2,864
Adjusted EBITDA $
86,042
$
74,368
15.7
%
The following table summarizes the reconciliation between Debt (GAAP) and Net Debt, and Operating Income (GAAP) and Credit Adjusted EBITDA for the trailing twelve months ended March 31, 2026 and 2025. March 31,
Debt 2026
2025
Short-term borrowings $
232
$
18,575
Long-term debt 767,558
683,266
Credit Agreement adjustments(4) (20,780
)
(21,165
)
Net Debt $
747,010
$
680,676
Operating income (GAAP) $
220,326
$
195,703
Depreciation and amortization 61,562
60,694
Share-based compensation expense 14,822
10,989
Portfolio Optimization Plan costs, before tax 12,942
6,683
Other non-operating gains(5) (1,170
)
(871
)
Credit Adjusted EBITDA $
308,482
$
273,198
Net Debt to Credit Adjusted EBITDA 2.4x 2.5x (4) Adjustments include cash and cash equivalents, as described in the Company's Fourth Amended and Restated Credit Agreement (Credit Agreement), and certain letters of credit and hedge contracts. (5) Adjustments consist of certain financing transaction costs, certain non-financing interest items, and gains and losses related to certain non-cash, non-operating, and/or non-recurring items as described in the Credit Agreement. We have included each of these non-GAAP measures in order to provide additional information regarding our underlying operating results and comparable period-over-period performance. Such information is supplemental to information presented in accordance with GAAP and is not intended to represent a presentation in accordance with GAAP. These non-GAAP measures should not be considered in isolation. Rather, they should be considered together with GAAP measures and the rest of the information included in this release and our SEC filings. Management internally reviews each of these non-GAAP measures to evaluate performance on a comparative period-to-period basis and to gain additional insight into underlying operating and performance trends, and we believe the information can be beneficial to investors for the same purposes. These non-GAAP measures may not be comparable to similarly titled measures used by other companies. Category: Earnings
Sensient Technologies (SXT) came out with quarterly earnings of $1.04 per share, beating the Zacks Consensus Estimate of $0.8 per share. This compares to earnings of $0.86 per share a year ago.
An estimates-crushing quarter was the spark that lit a fire under Sensient Technologies (SXT +0.39%) as the stock trading week came to a close. The rather under-the-radar company, which specializes in flavors, colors, and extracts used across industries such as food and pharmaceuticals, saw its shares rise by a meaty 24% on Friday.
One tasty quarter Sensient booked revenue of just under $436 million in its first quarter, for a year-over-year improvement of more than 11%. Better, the company's net income under generally accepted accounting principles (GAAP) rocketed 28% higher to almost $44.2 million, or $1.04 per share.
Image source: Getty Images.
Both headline numbers were more than high enough to trounce the consensus analyst estimates. Professional Sensient trackers were modeling just over $411 million for the quarter's revenue, and a mere $0.83 for per-share, GAAP net income.
Sensient breaks its business down into two product categories. Of the two, color saw the more robust revenue growth -- its take grew by 18% compared to the 4% of flavors and extracts.
That outperformance might become a habit. In its earnings release, the company said that strong demand for natural flavor products was a particular driver of growth during the period.
Today's Change
(
0.39
%) $
0.48
Current Price
$
124.67
Enhanced guidance It was a beat-and-raise quarter for Sensient, as it adjusted several of its full-year 2026 projections. Management now expects non-GAAP (adjusted) revenue to grow at a high single-digit to double-digit percentage rate compared to 2025; previously, it forecast mid-single-digit to double-digit growth.
As for GAAP profitability, its new guidance is for $3.70 to $3.90 per share for the year. This betters the previous estimate of $3.60 to $3.80.
While every investor dreams of discovering and snapping up a "sleeper stock," Sensient's valuations look a little rich to me just now (its price/sales is 2.6, while forward P/E is almost 23). I don't feel it's a serious bargain, especially after Friday's pop, so I'd probably leave the stock alone for now.
Eric Volkman 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.
Sensient Technologies Corporation (NYSE:SXT – Get Free Report) shares gapped up prior to trading on Friday following a better than expected earnings announcement. The stock had previously closed at $99.23, but opened at $108.47. Sensient Technologies shares last traded at $114.1350, with a volume of 218,182 shares trading hands.
The specialty chemicals company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.80 by $0.24. The company had revenue of $435.83 million for the quarter, compared to analyst estimates of $411.39 million. Sensient Technologies had a net margin of 8.34% and a return on equity of 12.82%. The firm’s revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.86 earnings per share. Sensient Technologies has set its FY 2026 guidance at 3.700-3.90 EPS.
Sensient Technologies Announces Dividend The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 11th will be paid a $0.41 dividend. The ex-dividend date is Monday, May 11th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.3%. Sensient Technologies’s dividend payout ratio is presently 51.90%.
Key Sensient Technologies News Here are the key news stories impacting Sensient Technologies this week:
Positive Sentiment: Q1 results beat expectations — EPS $1.04 vs. $0.80 consensus and revenue $435.8M vs. $411.4M consensus; revenue +11.1% year-over-year, signaling stronger demand and margin performance. Read More. Positive Sentiment: Company says it has lifted its 2026 outlook after the strong quarter and provided FY‑2026 EPS guidance of $3.70–$3.90, which supports better forward earnings visibility. Read More. Positive Sentiment: Board declared a regular quarterly cash dividend of $0.41 per share (record May 11, payable June 1), a sign of cash-flow support and capital return to shareholders. Read More. Neutral Sentiment: Guidance nuance — the $3.70–$3.90 range overlaps consensus (~$3.72), so while management appears confident, investors should watch upcoming quarters and margin drivers to confirm the raise. (See company press release/slides for detail.) Read More. Wall Street Analysts Forecast Growth A number of brokerages have issued reports on SXT. UBS Group assumed coverage on Sensient Technologies in a report on Wednesday, April 1st. They issued a “buy” rating and a $115.00 price target for the company. Zacks Research raised shares of Sensient Technologies from a “strong sell” rating to a “hold” rating in a research note on Monday, April 20th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Sensient Technologies in a report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $111.67.
View Our Latest Stock Report on SXT
Hedge Funds Weigh In On Sensient Technologies Institutional investors and hedge funds have recently modified their holdings of the business. Salomon & Ludwin LLC boosted its position in Sensient Technologies by 146.2% during the fourth quarter. Salomon & Ludwin LLC now owns 293 shares of the specialty chemicals company’s stock worth $28,000 after purchasing an additional 174 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of Sensient Technologies by 313.5% during the 4th quarter. Farther Finance Advisors LLC now owns 306 shares of the specialty chemicals company’s stock worth $29,000 after buying an additional 232 shares during the period. State of Wyoming acquired a new position in shares of Sensient Technologies during the 3rd quarter worth approximately $32,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Sensient Technologies during the 4th quarter valued at approximately $33,000. Finally, Advisors Asset Management Inc. lifted its position in shares of Sensient Technologies by 53.1% during the 4th quarter. Advisors Asset Management Inc. now owns 401 shares of the specialty chemicals company’s stock valued at $38,000 after buying an additional 139 shares in the last quarter. Hedge funds and other institutional investors own 90.86% of the company’s stock.
Sensient Technologies Stock Up 24.1% The stock has a market cap of $5.24 billion, a price-to-earnings ratio of 38.96 and a beta of 0.62. The business’s 50 day moving average is $92.86 and its 200-day moving average is $94.32. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.53 and a current ratio of 4.10.
Sensient Technologies Company Profile (Get Free Report)
Sensient Technologies Corporation is a global leader in the manufacture and supply of colors, flavors and fragrances for a broad range of end-markets. The company develops and produces ingredients that enhance the appearance, taste and scent of products in the food, beverage, nutraceutical, pharmaceutical, personal care and household sectors. Its portfolio includes natural and synthetic colorants, botanical and artificial flavor systems, fragrance compounds and specialty chemical offerings tailored to customer specifications.
Within its flavor and fragrance division, Sensient provides custom formulations for sweet, savory and umami taste profiles along with fragrance blends for personal care and cosmetic applications.
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Sensient Technologies (SXT) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.
Sensient Technologies is capitalizing on regulatory-driven demand for natural colors, with Q1 2026 revenue up 11.1% and the Color Group leading growth. SXT's Color Group achieved 12.3% local currency revenue growth and maintained margins despite heavy capacity investments, driven by complex, higher-margin customer conversions. Management anticipates high-single- to double-digit growth in 2026 adjusted EBITDA and EPS, but rising debt and interest expense warrant close monitoring.
From a technical perspective, Sensient Technologies Corporation (SXT) is looking like an interesting pick, as it just reached a key level of support. SXT's 50-day simple moving average crossed above its 200-day simple moving average, which is known as a "golden cross" in the trading world.
Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Is Sensient Technologies (SXT - Free Report) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Basic Materials sector should help us answer this question.
Sensient Technologies is a member of the Basic Materials sector. This group includes 248 individual stocks and currently holds a Zacks Sector Rank of #11. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Sensient Technologies is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for SXT's full-year earnings has moved 5.4% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, SXT has moved about 21.3% on a year-to-date basis. Meanwhile, stocks in the Basic Materials group have gained about 13% on average. This shows that Sensient Technologies is outperforming its peers so far this year.
Another Basic Materials stock, which has outperformed the sector so far this year, is Yara International ASA (YARIY - Free Report) . The stock has returned 42% year-to-date.
In Yara International ASA's case, the consensus EPS estimate for the current year increased 40.9% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Sensient Technologies belongs to the Chemical - Specialty industry, a group that includes 44 individual companies and currently sits at #92 in the Zacks Industry Rank. This group has gained an average of 9.1% so far this year, so SXT is performing better in this area.
On the other hand, Yara International ASA belongs to the Fertilizers industry. This 6-stock industry is currently ranked #30. The industry has moved +21.7% year to date.
Investors with an interest in Basic Materials stocks should continue to track Sensient Technologies and Yara International ASA. These stocks will be looking to continue their solid performance.
On May 15, 2026, Mountaineer Partners Management disclosed a buy in Sensient Technologies (SXT +0.39%), adding 39,494 shares in the first quarter. The estimated transaction value was $3.70 million based on average quarterly pricing.
What happenedAccording to a Securities and Exchange Commission (SEC) filing dated May 15, 2026, Mountaineer Partners Management increased its holding in Sensient Technologies by 39,494 shares during the first quarter. The estimated value of the shares acquired was $3.70 million, based on mean unadjusted closing prices for the quarter. The quarter-end value of the position increased by $2.53 million, reflecting both trading activity and price movements.
Mountaineer Partners’ buy brought its stake in Sensient Technologies to nearly 7% of 13F reportable assets under management as of March 31, 2026.Top five holdings after the filing:NASDAQ: CENX: $34.27 million (17.0% of AUM)NYSE: CSTM: $16.19 million (8.0% of AUM)NYSE: AA: $15.50 million (7.7% of AUM)NYSE: HBM: $14.76 million (7.3% of AUM)NYSE: FCX: $14.16 million (7.0% of AUM)As of Friday, Sensient Technologies shares were priced at $114.44, up 22% over the past year, compared to a 28% gain for the S&P 500.Company overviewMetricValueRevenue (TTM)$1.66 billionNet income (TTM)$144.20 millionDividend yield1.43%Price (as of Friday)$114.44Company snapshotSensient Technologies develops and manufactures specialty ingredients, including colors, flavors, extracts, and functional ingredients for the food, beverage, personal care, pharmaceutical, and household products industries.The firm generates revenue primarily through the sale of proprietary ingredient systems and value-added formulations, leveraging a global manufacturing and distribution footprint.It serves multinational consumer goods companies, food and beverage producers, cosmetics manufacturers, and pharmaceutical firms across North America, Europe, Asia Pacific, and other international markets.Sensient Technologies is a leading global supplier of specialty ingredients, operating at scale with a diversified product portfolio and international reach. The company’s strategy emphasizes innovation in natural and synthetic color and flavor systems, supported by strong technical expertise and a broad customer base. Sensient Technologies’ competitive edge lies in its ability to deliver customized solutions for complex applications in regulated industries.
What this transaction means for investorsSensient’s position in flavors, colors, and specialty ingredients gives it exposure to long-term consumer trends that can compound quietly over time, and the business has been showing accelerating momentum. First-quarter revenue increased 11% to $435.8 million, while operating income jumped nearly 25% to $66.7 million. Earnings per share rose 28% to $1.04, helped by strong performance across the company's Color segment, where revenue climbed 18%, and operating income increased 21%.
Management sounded particularly optimistic about demand for natural colors. CEO Paul Manning said the company continues to strengthen its position "particularly in the area of natural colors" and was confident enough to raise its 2026 guidance after the quarter.
For long-term investors, that's probably the real takeaway. While Sensient won't deliver the explosive growth of a software or AI company, it operates in specialized markets where formulation expertise, regulatory know-how, and customer relationships create meaningful competitive advantages. Mountaineer's purchase suggests it sees further upside if those strengths continue translating into profitable growth.
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.
On June 09, 2026, Sensient Technologies Corp (SXT) shares rose 5.9% to a current price of $119.47. This movement comes amid a 52-week range that saw a high of $
PALO ALTO, Calif.--(BUSINESS WIRE)--Guardant Health, Inc. (Nasdaq: GH), a leading precision oncology company, today announced that the U.S. Food and Drug Administration (FDA) has approved the Guardant360® CDx liquid biopsy test as a companion diagnostic for VEPPANU (vepdegestrant). VEPPANU, jointly developed by Arvinas, Inc. and Pfizer Inc., is approved for the treatment of adults with estrogen receptor-positive (ER+), human epidermal growth factor receptor 2-negative (HER2-), estrogen receptor 1 (ESR1)-mutated advanced or metastatic breast cancer, as detected by an FDA-authorized test, with disease progression following at least one line of endocrine therapy.
The approval of Guardant360 CDx enables a non-invasive, blood-based method to identify patients with ESR1 mutations who may be eligible for treatment with VEPPANU. ESR1 mutations are a known mechanism of resistance to endocrine therapy and are commonly observed in patients with advanced disease.
“This latest FDA approval using Guardant360 CDx reflects where cancer care is headed using blood-based testing to detect resistance earlier and guide smarter treatment decisions,” said Helmy Eltoukhy, Guardant Health chairman and co-CEO. “By identifying ESR1 mutations with just a simple blood draw, we’re helping bring more precise, personalized options to patients when they need them most.”
Vepdegestrant, discovered by Arvinas and co-developed with Pfizer, is a PROteolysis TArgeting Chimera (PROTAC), a type of heterobifunctional protein degrader therapy. It is designed to selectively degrade the estrogen receptor, offering a targeted treatment option for patients whose cancers are driven by ESR1 mutations. The approval is supported by clinical data demonstrating the clinical utility of identifying ESR1 mutations to guide treatment selection in ER+/HER2- advanced breast cancer.
This latest FDA approval for Guardant360 CDx marks the third ESR1 companion diagnostic approval. It is the 26th companion diagnostic indication across multiple tumor types, building on the platform’s increasing clinical utility and broad coverage by Medicare and commercial payers, representing more than 300 million covered lives.
About Guardant360® CDx
Guardant360 CDx is the first FDA-approved liquid biopsy for comprehensive genomic profiling. It detects multiple genomic alterations across all solid tumors and is approved as a companion diagnostic for therapies in non-small cell lung cancer, breast cancer, and colorectal cancer. For more information, visit Guardant360 CDx.
About Guardant Health
Guardant Health is a leading precision oncology company focused on guarding wellness and giving every person more time free from cancer. Founded in 2012, Guardant is transforming patient care and accelerating new cancer therapies by providing critical insights into what drives disease through its advanced blood and tissue tests, real-world data and AI analytics. Guardant tests help improve outcomes across all stages of care, including screening to find cancer early, monitoring for recurrence in early-stage cancer, and treatment selection for patients with advanced cancer. For more information, visit guardanthealth.com and follow the company on LinkedIn, X (Twitter) and Facebook.
Guardant Health Forward-Looking Statements
This press release contains forward-looking statements within the meaning of federal securities laws, including statements regarding the potential utilities, values, benefits and advantages of Guardant Health’s liquid biopsy tests or assays, which involve risks and uncertainties that could cause the actual results to differ materially from the anticipated results and expectations expressed in these forward-looking statements. These statements are based on current expectations, forecasts and assumptions, and actual outcomes and results could differ materially from these statements due to a number of factors. These and additional risks and uncertainties that could affect Guardant Health’s financial and operating results and cause actual results to differ materially from those indicated by the forward-looking statements made in this press release include those discussed under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operation” and elsewhere in its Annual Report on Form 10-K for the year ended December 31, 2025 and in its other reports filed with or furnished to the Securities and Exchange Commission. The forward-looking statements in this press release are based on information available to Guardant Health as of the date hereof, and Guardant Health disclaims any obligation to update any forward-looking statements provided to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based, except as required by law. These forward-looking statements should not be relied upon as representing Guardant Health’s views as of any date subsequent to the date of this press release.
PALO ALTO, Calif.--(BUSINESS WIRE)--Guardant Health, Inc. (Nasdaq: GH), a leading precision oncology company, today reported financial results for the quarter ended March 31, 2026.
First Quarter 2026 Financial Highlights
For the three-month period ended March 31, 2026, as compared to the same period of 2025:
Reported total revenue of $301.7 million, an increase of 48%, driven by: Oncology revenue of $205.0 million, an increase of 36%, and approximately 86,000 oncology tests, an increase of 47% Biopharma & Data revenue of $53.0 million, an increase of 17% Screening revenue of $41.6 million, and approximately 44,000 Shield screening tests, compared to $5.7 million revenue and 9,000 tests in the prior year period Generated non-GAAP gross margin of 66%, compared to 65% for the first quarter of 2025 Recent Operating Highlights
Presented 38 abstracts at the 2026 American Association for Cancer Research Annual Meeting, highlighting the breadth and strength of the Guardant portfolio Enhanced Guardant360 Tissue capabilities with the addition of whole transcriptome profiling, expanding clinical utility Announced collaboration with Nuvalent to develop companion diagnostics in targeted cancer therapy with initial emphasis on Guardant360 Tissue Received FDA approval for Guardant360® CDx as a companion diagnostic for Arvinas and Pfizer’s VEPPANU for ER+/HER2- ESR1 mutated advanced breast cancer Leveraged InfinityAI real-world evidence to support the approval of Daiichi Sankyo’s ENHERTU Activated direct-to-consumer and influencer campaigns during Colorectal Cancer Awareness Month to drive awareness and demand Launched nationwide, multi-year collaboration with Quest to expand access to Shield and accelerate screening adoption Launched Shield Multi-Cancer Detection (MCD) in Asia through Manulife partnership “Our first-quarter revenue increased 48% year over year, reflecting strong momentum across the Guardant portfolio,” said Helmy Eltoukhy, co-founder and co-CEO. “Oncology testing volumes continued to accelerate, reaching 86,000 in the quarter, up 47% year over year. Guardant360 Liquid and Guardant360 Tissue demonstrated significant growth, and we saw strong receptivity to our expansion into therapy response monitoring with Guardant Reveal. We believe these trends, driven by our Smart platform and InfinityAI offerings, position us well for sustained growth and for extending our leadership in precision oncology.”
“We are pleased with our progress with Shield, including strong volume momentum exiting the first quarter,” said AmirAli Talasaz, co-founder and co-CEO. “We expect sustained volume growth as we further build out our commercial infrastructure and expand collaborations with Quest and other partners. With a disciplined focus on execution as we scale, we are well positioned to broaden our reach in cancer screening and drive long-term value creation.”
First Quarter 2026 Financial Results
Revenue was $301.7 million for the first quarter of 2026, a 48% increase from $203.5 million for the corresponding prior year period. Oncology revenue grew 36% to $205.0 million for the first quarter of 2026, from $150.6 million for the corresponding prior year period, primarily driven by an increase in Oncology test volume, which grew 47% over the prior year period, and an increase in reimbursement for our oncology tests. Screening revenue grew over 600% to $41.6 million for the first quarter of 2026, from $5.7 million for the corresponding prior year period, driven primarily by an increase in Shield screening test volume, which grew to approximately 44,000 tests in the first quarter of 2026, from approximately 9,000 tests in the prior year period. The increase was also attributable to an increase in reimbursement for our Shield screening tests. Biopharma and Data revenue grew 17% to $53.0 million for the first quarter of 2026, from $45.4 million for the corresponding prior year period. Licensing and other revenue was $2.1 million for the first quarter of 2026, compared to $1.9 million for the corresponding prior year period.
Gross profit, or total revenue less cost of revenue, was $196.7 million for the first quarter of 2026, an increase of $68.0 million or 53%, from $128.7 million for the corresponding prior year period. Gross margin, or gross profit divided by total revenue, was 65% for the first quarter of 2026, as compared to 63% for the corresponding prior year period.
Non-GAAP gross profit was $200.1 million for the first quarter of 2026, an increase of $68.8 million or 52%, from $131.3 million for the corresponding prior year period. Non-GAAP gross margin was 66% for the first quarter of 2026, as compared to 65% for the corresponding prior year period.
Operating expenses were $318.1 million for the first quarter of 2026, as compared to $239.8 million for the corresponding prior year period. Non-GAAP operating expenses were $268.1 million for the first quarter of 2026, as compared to $199.6 million for the corresponding prior year period. The year-over-year increase in both operating expenses and non-GAAP operating expenses was primarily related to commercial infrastructure expansion and marketing activities to support the Shield and Oncology growth.
Net loss was $112.1 million for the first quarter of 2026, as compared to $95.2 million for the corresponding prior year period. Net loss per share was $0.85 for the first quarter of 2026, as compared to $0.77 for the corresponding prior year period.
Non-GAAP net loss was $58.7 million for the first quarter of 2026, as compared to $61.1 million for the corresponding prior year period. Non-GAAP net loss per share was $0.45 for the first quarter of 2026, as compared to $0.49 for the corresponding prior year period.
Adjusted EBITDA loss was $58.9 million for the first quarter of 2026, as compared to a $58.5 million loss for the corresponding prior year period.
Free cash flow for the first quarter of 2026 was $(71.2) million, as compared to $(67.1) million for the corresponding prior year period.
Cash, cash equivalents, restricted cash and marketable securities were $1.2 billion as of March 31, 2026.
2026 Guidance
Guardant Health now expects full year 2026 revenue to be in the range of $1.30 to $1.32 billion, representing growth of 32% to 34% compared to full year 2025. This compares to the prior range of $1.25 to $1.28 billion, representing growth of 27% to 30%.
Within this revenue range:
Oncology revenue is now expected to grow in the range of 28% to 29% in 2026, compared to prior guidance of 25% to 27%. Oncology volume is now expected to grow greater than 35% in 2026, compared to prior guidance of approximately 30%. Guardant Health continues to expect Biopharma & Data revenue growth to be in the low double-digit range. Screening revenue is now expected to be in the range of $186 to $198 million, driven by Shield volume of 230,000 to 245,000 tests. This compares to the prior guidance of $162 to $174 million revenue and 210,000 to 225,000 tests. Guardant Health continues to expect full year 2026 non-GAAP gross margin to be in the range of 64% to 65%. Guardant Health now expects total non-GAAP operating expenses to be in the range of $1.05 to $1.07 billion, an increase compared to the prior range of $1.03 to $1.05 billion. Guardant Health continues to expect free cash flow burn to be in the range of $185 to $195 million, an improvement compared to $233 million for the full year 2025.
Webcast Information
Guardant Health will host a conference call to discuss the first quarter 2026 financial results after market close on Thursday, May 7, 2026 at 1:30 pm Pacific Time / 4:30 pm Eastern Time. A webcast of the conference call can be accessed at http://investors.guardanthealth.com. The webcast will be archived and available for replay for at least 90 days after the event.
Non-GAAP Measures
Guardant Health has presented in this release certain financial information in accordance with U.S. Generally Accepted Accounting Principles (GAAP) and also on a non-GAAP basis, including non-GAAP cost of revenue, non-GAAP gross profit, non-GAAP research and development expense, non-GAAP sales and marketing expense, non-GAAP general and administrative expense, non-GAAP loss from operations, non-GAAP net loss, non-GAAP net loss per share, basic and diluted, adjusted EBITDA, and free cash flow.
We define our non-GAAP measures as the applicable GAAP measure adjusted for the impacts of stock-based compensation and related employer payroll tax payments, contingent consideration, amortization of intangible assets, impairment of non-marketable equity securities, gain on extinguishment of convertible notes, and other non-recurring items.
Adjusted EBITDA is defined as net loss adjusted for interest income; interest expense; other income (expense), net; provision for income taxes; depreciation and amortization expense; stock-based compensation expense and related employer payroll tax payments; contingent consideration; and other non-recurring items. Free cash flow is defined as net cash used in operating activities in the period less purchases of property and equipment in the period.
We believe that the exclusion of certain income and expenses in calculating these non-GAAP financial measures can provide a useful measure for investors when comparing our period-to-period core operating results, and when comparing those same results to that published by our peers. We exclude certain items because we believe that these income and expenses do not reflect expected future operating performance. Additionally, certain items are inconsistent in amounts and frequency, making it difficult to perform a meaningful evaluation of our current or past operating performance. We use these non-GAAP financial measures to evaluate ongoing operations, for internal planning and forecasting purposes, and to manage our business.
These non-GAAP financial measures are not intended to be considered in isolation from, as substitute for, or as superior to, the corresponding financial measures prepared in accordance with GAAP. There are limitations inherent in non-GAAP financial measures because they exclude charges and credits that are required to be included in a GAAP presentation, and do not present the full measure of our recorded costs against its revenue. In addition, our definition of the non-GAAP financial measures may differ from non-GAAP measures used by other companies.
About Guardant Health
Guardant Health is a leading precision oncology company focused on guarding wellness and giving every person more time free from cancer. Founded in 2012, Guardant is transforming patient care and accelerating new cancer therapies by providing critical insights into what drives disease through its advanced blood and tissue tests, real-world data and AI analytics. Guardant tests help improve outcomes across all stages of care, including screening to find cancer early, monitoring for recurrence in early-stage cancer, and treatment selection for patients with advanced cancer. For more information, visit guardanthealth.com and follow the company on LinkedIn, X (Twitter) and Facebook.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of federal securities laws, including statements regarding the potential utilities, values, benefits and advantages of Guardant Health’s liquid biopsy tests or assays, which involve risks and uncertainties that could cause the actual results to differ materially from the anticipated results and expectations expressed in these forward-looking statements. These statements are based on current expectations, forecasts and assumptions, and actual outcomes and results could differ materially from these statements due to a number of factors. These and additional risks and uncertainties that could affect Guardant Health’s financial and operating results and cause actual results to differ materially from those indicated by the forward-looking statements made in this press release include those discussed under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operation” and elsewhere in its Annual Report on Form 10-K for the year ended December 31, 2025, and in its other reports filed with or furnished to the Securities and Exchange Commission thereafter. The forward-looking statements in this press release are based on information available to Guardant Health as of the date hereof, and Guardant Health disclaims any obligation to update any forward-looking statements provided to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based, except as required by law. These forward-looking statements should not be relied upon as representing Guardant Health’s views as of any date subsequent to the date of this press release.
Guardant Health, Inc.
Condensed Consolidated Statements of Operations
(unaudited)
(in thousands, except per share data)
Three Months Ended March 31,
2026
2025
Revenue
$
301,665
$
203,471
Costs and operating expenses:
Cost of revenue
104,919
74,723
Research and development expense
91,038
88,521
Sales and marketing expense
169,132
104,316
General and administrative expense
57,926
46,952
Total costs and operating expenses
423,015
314,512
Loss from operations
(121,350
)
(111,041
)
Interest income
11,151
9,112
Interest expense
(1,347
)
(791
)
Other income (expense), net
(157
)
7,851
Loss before provision for income taxes
(111,703
)
(94,869
)
Provision for income taxes
372
290
Net loss
$
(112,075
)
$
(95,159
)
Net loss per share, basic and diluted
$
(0.85
)
$
(0.77
)
Weighted-average shares used in computing net loss per share, basic and diluted
131,273
123,871
Guardant Health, Inc.
Condensed Consolidated Balance Sheets
(unaudited)
(in thousands, except share and per share data)
March 31, 2026
December 31, 2025
ASSETS
Current assets:
Cash and cash equivalents
$
989,291
$
378,203
Short-term marketable securities
113,469
823,395
Accounts receivable, net
137,404
137,849
Inventory, net
83,851
85,876
Prepaid expenses and other current assets, net
43,490
40,723
Total current assets
1,367,505
1,466,046
Restricted cash
112,150
111,214
Property and equipment, net
150,035
145,915
Right-of-use assets, net
153,906
158,849
Intangible assets, net
25,543
25,921
Goodwill
77,257
77,257
Other assets, net
28,895
28,457
Total Assets
$
1,915,291
$
2,013,659
LIABILITIES AND STOCKHOLDERS’ DEFICIT
Current liabilities:
Accounts payable
$
75,034
$
54,442
Accrued compensation
91,326
119,646
Accrued expenses
78,013
77,889
Deferred revenue
47,772
50,753
Total current liabilities
292,145
302,730
Convertible senior notes, net
1,503,471
1,504,000
Long-term operating lease liabilities
173,055
178,463
Other long-term liabilities
127,693
127,773
Total Liabilities
2,096,364
2,112,966
Stockholders’ deficit:
Common stock, par value of $0.00001 per share; 350,000,000 shares authorized; 131,514,404 and 130,635,301 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively
1
1
Additional paid-in capital
2,930,665
2,900,056
Accumulated other comprehensive loss
(5,152
)
(4,852
)
Accumulated deficit
(3,106,587
)
(2,994,512
)
Total Stockholders’ Deficit
(181,073
)
(99,307
)
Total Liabilities and Stockholders’ Deficit
$
1,915,291
$
2,013,659
Guardant Health, Inc.
Supplemental Revenue Information
(unaudited)
(in thousands)
Three Months Ended March 31,
2026
2025
Oncology
$
204,954
$
150,559
Biopharma and data
52,977
45,376
Screening
41,590
5,677
Licensing and other
2,144
1,859
Total revenue
$
301,665
$
203,471
Reconciliation of Selected GAAP Measures to Non-GAAP Measures
(unaudited)
(in thousands, except per share data)
Three Months Ended March 31,
2026
2025
GAAP cost of revenue
$
104,919
$
74,723
Amortization of intangible assets
(148
)
(148
)
Stock-based compensation expense and related employer payroll tax payments
(3,211
)
(2,390
)
Non-GAAP cost of revenue
$
101,560
$
72,185
GAAP gross profit
$
196,746
$
128,748
Amortization of intangible assets
148
148
Stock-based compensation expense and related employer payroll tax payments
3,211
2,390
Non-GAAP gross profit
$
200,105
$
131,286
GAAP research and development expense
$
91,038
$
88,521
Stock-based compensation expense and related employer payroll tax payments
(14,449
)
(13,090
)
Contingent consideration
—
(534
)
Non-GAAP research and development expense
$
76,589
$
74,897
GAAP sales and marketing expense
$
169,132
$
104,316
Stock-based compensation expense and related employer payroll tax payments
(14,702
)
(10,189
)
Non-GAAP sales and marketing expense
$
154,430
$
94,127
GAAP general and administrative expense
$
57,926
$
46,952
Amortization of intangible assets
(230
)
(332
)
Stock-based compensation expense and related employer payroll tax payments
(19,509
)
(13,571
)
Contingent consideration
—
(490
)
Other
(1,150
)
(2,000
)
Non-GAAP general and administrative expense
$
37,037
$
30,559
Three Months Ended March 31,
2026
2025
GAAP loss from operations
$
(121,350
)
$
(111,041
)
Amortization of intangible assets
378
480
Stock-based compensation expense and related employer payroll tax payments
51,871
39,240
Contingent consideration
—
1,024
Other
1,150
2,000
Non-GAAP loss from operations
$
(67,951
)
$
(68,297
)
GAAP net loss
$
(112,075
)
$
(95,159
)
Amortization of intangible assets
378
480
Stock-based compensation expense and related employer payroll tax payments
51,871
39,240
Contingent consideration
—
1,024
Impairment of non-marketable equity securities
—
5,000
Gain on extinguishment of convertible notes
—
(13,672
)
Other
1,150
2,000
Non-GAAP net loss
$
(58,676
)
$
(61,087
)
GAAP net loss per share, basic and diluted
$
(0.85
)
$
(0.77
)
Non-GAAP net loss per share, basic and diluted
$
(0.45
)
$
(0.49
)
Weighted-average shares used in computing GAAP and Non-GAAP net loss per share, basic and diluted
131,273
123,871
Reconciliation of GAAP Net Loss to Adjusted EBITDA
(unaudited)
(in thousands)
Three Months Ended March 31,
2026
2025
GAAP net loss
$
(112,075
)
$
(95,159
)
Interest income
(11,151
)
(9,112
)
Interest expense
1,347
791
Other expense (income), net
157
(7,851
)
Provision for income taxes
372
290
Depreciation and amortization
9,442
10,236
Stock-based compensation expense and related employer payroll tax payments
51,871
39,240
Contingent consideration
—
1,024
Other
1,150
2,000
Adjusted EBITDA
$
(58,887
)
$
(58,541
)
Reconciliation of Free Cash Flow to Net Cash Used in Operating Activities
Guardant Health (GH - Free Report) came out with a quarterly loss of $0.45 per share versus the Zacks Consensus Estimate of a loss of $0.47. This compares to a loss of $0.49 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +4.60%. A quarter ago, it was expected that this provider of oncology testing services would post a loss of $0.42 per share when it actually produced a loss of $0.5, delivering a surprise of -19.05%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Guardant Health, which belongs to the Zacks Medical - Biomedical and Genetics industry, posted revenues of $301.67 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 8.31%. This compares to year-ago revenues of $203.47 million. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Guardant Health shares have lost about 9.7% since the beginning of the year versus the S&P 500's gain of 7.6%.
What's Next for Guardant Health?While Guardant Health has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Guardant Health was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.42 on $305.85 million in revenues for the coming quarter and -$1.50 on $1.27 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Biomedical and Genetics is currently in the bottom 40% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Lineage Cell (LCTX - Free Report) , is yet to report results for the quarter ended March 2026. The results are expected to be released on May 12.
This biotechnology company is expected to post quarterly loss of $0.02 per share in its upcoming report, which represents no change from the year-ago quarter. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Lineage Cell's revenues are expected to be $3.23 million, up 115.1% from the year-ago quarter.
