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LOS ANGELES--(BUSINESS WIRE)--Korn Ferry (NYSE: KFY), a global consulting firm, today announced fourth quarter and annual fee revenue of $759.8 million and $2.9 billion, respectively. In addition, fourth quarter diluted earnings per share was $1.39 and adjusted diluted earnings per share was $1.40, while full year diluted earnings per share was $5.22 and adjusted diluted earnings per share was $5.28.

“I am very pleased with our quarterly performance. This marks our fifth consecutive quarter of top-line growth, underscoring the strength of our strategy and the increasing relevance of our solutions – all amid an uneven economic environment,” said Gary D. Burnison, CEO, Korn Ferry. “In addition to increased momentum across our broader offerings, I am particularly encouraged by double-digit growth in Professional Search & Interim, reflecting the depth and breadth of our solutions.

“As we conclude another fiscal year, I have never been more excited about the potential for Korn Ferry, the impact we have on clients and our We Are Korn Ferry mindset that is furthering collaboration across our firm. I am incredibly proud of our colleagues around the world. Their expertise and passion are the catalyst as we unlock potential in people and unleash transformation across organizations.”

Selected Financial Results

(dollars in millions, except per share amounts) (a)

  Fourth Quarter

Year to Date

FY’26

FY’25

FY’26

FY’25

Fee revenue

$

759.8

$

712.0

$

2,907.5

$

2,730.1

Total revenue

$

768.3

$

719.8

$

2,938.6

$

2,761.1

Estimated remaining fees under existing contracts (b)

$

1,883.0

$

1,709.6

$

1,883.0

$

1,709.6

Net income attributable to Korn Ferry

$

73.1

$

64.2

$

277.4

$

246.1

Net income attributable to Korn Ferry margin

9.6

%

9.0

%

9.5

%

9.0

%

Basic earnings per share

$

1.42

$

1.23

$

5.33

$

4.69

Diluted earnings per share

$

1.39

$

1.21

$

5.22

$

4.60

Adjusted Results (c):

Fourth Quarter

Year to Date

FY’26

FY’25

FY’26

FY’25

Adjusted EBITDA

$

129.5

$

121.1

$

497.8

$

463.9

Adjusted EBITDA margin

17.0

%

17.0

%

17.1

%

17.0

%

Adjusted net income attributable to Korn Ferry (d)

$

73.5

$

70.1

$

280.9

$

261.2

Adjusted basic earnings per share (d)

$

1.43

$

1.34

$

5.40

$

4.98

Adjusted diluted earnings per share (d)

$

1.40

$

1.32

$

5.28

$

4.88

Fourth Quarter

Year to Date

FY’26

FY’25

FY’26

FY’25

Management separation charges are contractual
obligations due upon executive's death

$

—

$

4.6

$

—

$

4.6

Integration/acquisition costs

$

—

$

1.7

$

4.4

$

8.8

Restructuring charges, net

$

—

$

—

$

—

$

1.9

Impairment of fixed assets

$

—

$

—

$

—

$

0.5

Impairment of right-of-use assets

$

—

$

—

$

—

$

2.5

Gain on modification of office lease

$

—

$

—

$

(13.9

)

$

—

Fourth Quarter

Year to Date

FY’26

FY’25

FY’26

FY’25

Accelerated depreciation on Digital platform

$

—

$

—

$

13.8

$

—

Tax effect on the adjusted items

$

0.4

$

(0.5

)

$

(0.9

)

$

(3.2

)

Fiscal 2026 Fourth Quarter Results

The Company reported fee revenue in Q4 FY'26 of $759.8 million, an increase of 7% year-over-year (up 5.0% at constant currency), led by Professional Search & Interim up 14%, followed by Executive Search and Consulting, both up 7% and RPO up 5%.

Net income attributable to Korn Ferry was $73.1 million with a margin of 9.6% in Q4 FY'26, compared to Q4 FY'25 net income attributable to Korn Ferry of $64.2 million with a margin of 9.0%, an increase of 60bps. Adjusted EBITDA was $129.5 million in Q4 FY'26 compared to $121.1 million in Q4 FY'25. Adjusted EBITDA margin was 17.0% in both Q4 FY'26 and Q4 FY'25. Increases in net income attributable to Korn Ferry and margin, as well as Adjusted EBITDA, were primarily due to an increase in fee revenue, partially offset by increases in compensation and benefits expenses and costs of services.

Fiscal 2026 Full Year Results

The Company reported fee revenue in FY'26 of $2,907.5 million, an increase of 7% year-over-year (up 5% at constant currency), led by Professional Search & Interim up 11%, Executive Search up 9%, and Consulting and RPO, both up approximately 4%.

Net income attributable to Korn Ferry was $277.4 million with a margin of 9.5% in FY'26, compared to net income attributable to Korn Ferry of $246.1 million with a margin of 9.0% in FY'25, an increase of 50bps. Adjusted EBITDA was $497.8 million in FY'26 compared to $463.9 million in FY'25. Adjusted EBITDA margin was 17.1% in FY'26, essentially flat compared to the year-ago period. Increases in net income attributable to Korn Ferry and margin, as well as Adjusted EBITDA, were primarily due to an increase in fee revenue, partially offset by increases in compensation and benefits expenses and cost of services.

Results by Solution

Selected Consulting Data

(dollars in millions) (a)

  Fourth Quarter

Year to Date

FY’26

FY’25

FY’26

FY’25

Fee revenue

$

181.9

$

169.4

$

691.7

$

662.7

Total revenue

$

185.3

$

172.5

$

704.1

$

674.1

Estimated remaining fees under existing contracts (b)

$

390.1

$

367.7

$

390.1

$

367.7

Ending number of consultants and execution staff (c)

1,522

1,599

1,522

1,599

Hours worked in thousands (d)

366

373

1,426

1,510

Average bill rate (e)

$

442

$

413

$

458

$

439

Adjusted Results (f):

Fourth Quarter

Year to Date

FY’26

FY’25

FY’26

FY’25

Adjusted EBITDA

$

30.9

$

29.1

$

118.4

$

115.5

Adjusted EBITDA margin

17.0

%

17.2

%

17.1

%

17.4

%

____________________ (a)

Numbers may not total due to rounding.

(b)

Estimated fee revenue associated with signed contracts for which revenue has not yet been recognized.

(c)

Represents number of employees originating, delivering and executing consulting services.

(d)

The number of hours worked by consultant and execution staff during the period.

(e)

The amount of fee revenue divided by the number of hours worked by consultants and execution staff.

(f)

Adjusted results exclude the following:

Fourth Quarter

Year to Date

FY’26

FY’25

FY’26

FY’25

Management separation charges (g)

$

—

$

4.6

$

—

$

4.6

Restructuring charges, net

$

—

$

—

$

—

$

1.7

Gain on modification of office lease

$

—

$

—

$

(4.1

)

$

—

Fee revenue was $181.9 million in Q4 FY'26 compared to $169.4 million in Q4 FY'25, an increase of $12.5 million or 7% (up 5% on a constant currency basis). The year-over-year increase in Consulting fee revenue was primarily driven by higher fee revenue in leadership development, assessment & succession and organizational strategy offerings.

Adjusted EBITDA was $30.9 million in Q4 FY'26 compared to $29.1 million in the year-ago quarter. Adjusted EBITDA margin was 17.0% in Q4 FY'26, essentially flat compared to the year-ago quarter. The increase in Adjusted EBITDA was primarily from higher fee revenue, partially offset by an increase in compensation and benefits expenses.

Selected Digital Data

(dollars in millions) (a)

  Fourth Quarter

Year to Date

FY’26

FY’25

FY’26

FY’25

Fee revenue

$

89.3

$

91.6

$

363.5

$

363.5

Total revenue

$

89.7

$

91.6

$

364.4

$

363.7

Estimated remaining fees under existing contracts (b)

$

416.9

$

392.6

$

416.9

$

392.6

Ending number of consultants

233

244

233

244

Subscription & License fee revenue

$

38.0

$

34.5

$

148.6

$

137.7

Adjusted Results (c):

Fourth Quarter

Year to Date

FY’26

FY’25

FY’26

FY’25

Adjusted EBITDA

$

27.7

$

28.5

$

113.1

$

112.7

Adjusted EBITDA margin

31.0

%

31.1

%

31.1

%

31.0

%

Fourth Quarter

Year to Date

FY’26

FY’25

FY’26

FY’25

Impairment of fixed assets

$

—

$

—

$

—

$

0.4

Gain on modification of office lease

$

—

$

—

$

(2.0

)

$

—

Fee revenue was $89.3 million in Q4 FY'26 compared to $91.6 million in Q4 FY'25, a decrease of $2.3 million or 3% (down 6% on a constant currency basis).

Adjusted EBITDA was $27.7 million in Q4 FY'26, compared to $28.5 million in the year-ago quarter. Adjusted EBITDA margin was 31.0%, relatively unchanged from the year-ago quarter.

Selected Executive Search Data(a)

(dollars in millions) (b)

  Fourth Quarter

Year to Date

FY’26

FY’25

FY’26

FY’25

Fee revenue

$

242.0

$

227.0

$

924.1

$

846.2

Total revenue

$

244.1

$

229.1

$

932.1

$

854.1

Estimated remaining fees under existing contracts (c)

$

73.2

$

69.6

$

73.2

$

69.6

Ending number of consultants

566

560

566

560

Average number of consultants

565

560

563

551

Engagements billed

3,794

3,827

9,511

9,151

New engagements (d)

1,712

1,738

6,514

6,325

Adjusted Results (e):

Fourth Quarter

Year to Date

FY’26

FY’25

FY’26

FY’25

Adjusted EBITDA

$

64.0

$

54.2

$

237.4

$

206.2

Adjusted EBITDA margin

26.4

%

23.9

%

25.7

%

24.4

%

____________________ (a)

Executive Search is the sum of the individual Executive Search Reporting Segments described in our annual and quarterly reporting on Forms 10-K and 10-Q and is presented on a consolidated basis as it is consistent with the Company’s discussion of its Solutions, and financial metrics used by the Company’s investor base.

(b)

Numbers may not total due to rounding.

(c)

Estimated fee revenue associated with signed contracts for which revenue has not yet been recognized.

(d)

Represents new engagements opened in the respective period.

(e)

Executive Search Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP financial measures that adjust for the following:

Fourth Quarter

Year to Date

FY’26

FY’25

FY’26

FY’25

Impairment of right-of-use assets

$

—

$

—

$

—

$

2.5

Impairment of fixed assets

$

—

$

—

$

—

$

0.2

Gain on modification of office lease

$

—

$

—

$

(3.7

)

$

—

Restructuring charges, net

$

—

$

—

$

—

$

0.2

Fee revenue was $242.0 million in Q4 FY'26 compared to $227.0 million in Q4 FY'25, an increase of $15.0 million or 7% (up 5% at constant currency). The year-over-year increase in fee revenue was driven by an increase in the weighted-average fees billed per engagement, resulting from more search work at higher levels. The Company experienced fee revenue growth in all regions.

Adjusted EBITDA was $64.0 million in Q4 FY'26 compared to $54.2 million in the year-ago quarter, an increase of $9.8 million or 18% year-over-year. Adjusted EBITDA margin was 26.4%, compared to 23.9% in the year-ago quarter. The increase in Adjusted EBITDA and Adjusted EBITDA margin was primarily due to an increase in fee revenue combined with lower general and administrative expenses, partially offset by an increase in compensation and benefits expenses.

Selected Professional Search & Interim Data

(dollars in millions) (a)

  Fourth Quarter

Year to Date

FY’26

FY’25

FY’26

FY’25

Fee revenue

$

149.1

$

130.7

$

561.1

$

503.5

Total revenue

$

150.4

$

131.7

$

566.3

$

507.2

Permanent Placement:

Fee revenue

$

59.8

$

50.9

$

222.4

$

203.8

Estimated remaining fees under existing contracts (b)

$

16.5

$

14.1

$

16.5

$

14.1

Engagements billed

1,784

1,829

4,835

4,830

New engagements (c)

1,034

1,009

3,902

3,811

Ending number of consultants

290

309

290

309

Interim:

Fee revenue

$

89.3

$

79.8

$

338.7

$

299.7

Estimated remaining fees under existing contracts (b)

$

144.1

$

107.6

$

144.1

$

107.6

Average bill rate (d)

$

151

$

131

$

145

$

133

Average weekly billable consultants (e)

1,234

1,301

1,237

1,168

Adjusted Results (f):

Fourth Quarter

Year to Date

FY’26

FY’25

FY’26

FY’25

Adjusted EBITDA

$

33.9

$

27.4

$

121.2

$

107.6

Adjusted EBITDA margin

22.7

%

21.0

%

21.6

%

21.4

%

____________________ (a)

Numbers may not total due to rounding.

(b)

Estimated fee revenue associated with signed contracts for which revenue has not yet been recognized.

(c)

Represents new engagements opened in the respective period.

(d)

Fee revenue from interim divided by the number of hours worked by consultants.

(e)

The number of billable consultants based on a weekly average in the respective period.

(f)

Adjusted results exclude the following:

Fourth Quarter

Year to Date

FY’26

FY’25

FY’26

FY’25

Integration/acquisition costs

$

—

$

1.6

$

4.4

$

6.0

Gain on modification of office lease

$

—

$

—

$

(2.6

)

$

—

Fee revenue was $149.1 million in Q4 FY'26 compared to $130.7 million in Q4 FY'25, an increase of $18.4 million or 14% (up 12% at constant currency). Fee revenue increased due to higher fee revenues in both Permanent Placement and Interim. The year-over-year increase in Interim fee revenue was primarily due to a 15% increase in average bill rate. The year-over-year increase in Permanent Placement fee revenue was driven by an increase in the weighted-average fee billed per engagement.

Adjusted EBITDA was $33.9 million in Q4 FY'26 compared to $27.4 million in the year-ago quarter. Adjusted EBITDA margin was 22.7% in Q4 FY'26 compared to 21.0% in the year-ago quarter. The increase in Adjusted EBITDA and Adjusted EBITDA margin was due to an increase in fee revenue, partially offset by increases in compensation and benefits expenses and cost of services.

Selected Recruitment Process Outsourcing ("RPO") Data

(dollars in millions) (a)

  Fourth Quarter

Year to Date

FY’26

FY’25

FY’26

FY’25

Fee revenue

$

97.6

$

93.3

$

367.1

$

354.1

Total revenue

$

98.7

$

94.8

$

371.8

$

362.0

Estimated remaining fees under existing contracts (b)

$

842.2

$

758.0

$

842.2

$

758.0

RPO new business (c)

$

137.2

$

118.8

$

543.9

$

533.4

Adjusted Results (d):

Fourth Quarter

Year to Date

FY’26

FY’25

FY’26

FY’25

Adjusted EBITDA

$

15.5

$

14.5

$

57.7

$

52.6

Adjusted EBITDA margin

15.8

%

15.5

%

15.7

%

14.9

%

Fourth Quarter

Year to Date

FY’26

FY’25

FY’26

FY’25

Gain on modification of office lease

$

—

$

—

$

(1.5

)

$

—

Fee revenue was $97.6 million in Q4 FY'26 compared to $93.3 million in Q4 FY'25, an increase of $4.3 million or 5% (up 3% at constant currency). RPO fee revenue increased primarily due to new logo client wins in North America.

Adjusted EBITDA was $15.5 million in Q4 FY'26 compared to $14.5 million in the year-ago quarter. Adjusted EBITDA margin was 15.8% in Q4 FY'26, compared to 15.5% in Q4 FY'25.

Outlook

Assuming no material negative impact from the recent Middle East conflict and that other worldwide geopolitical conditions, economic conditions, financial markets and foreign exchange rates remain steady, on a consolidated basis:

Q1 FY’27 fee revenue is expected to be in the range of $725 million and $745 million; and Q1 FY’27 diluted earnings per share is expected to range between $1.32 to $1.38. Earnings Conference Call Webcast

The earnings conference call will be held today at 12:00 PM (EDT) and hosted by CEO Gary Burnison, CFO Robert Rozek, SVP Business Development & Analytics Gregg Kvochak and VP Investor Relations Tiffany Louder. The conference call will be webcast and available online at ir.kornferry.com. We will also post to the investor relations section of our website earnings slides, which will accompany our webcast, and other important information, and encourage you to review the information that we make available on our website.

About Korn Ferry

Korn Ferry is a global consulting firm that powers performance. We unlock the potential in your people and unleash transformation across your business—synchronizing strategy, operations, and talent to accelerate performance, fuel growth, and inspire a legacy of change. That’s why the world’s most forward-thinking companies across every major industry turn to us—for a shared commitment to lasting impact and the bold ambition to Be More Than.

Forward-Looking Statements

Statements in this press release and our conference call that relate to our outlook, projections, goals, strategies, future plans and expectations, including statements relating to expected labor market conditions, expected demand for and relevance of our products and services, expected results of our business diversification strategy, impact of global events on our business, and other statements of future events or conditions are forward-looking statements that involve a number of risks and uncertainties. Words such as “believes”, “expects”, “anticipates”, “goals”, “estimates”, “guidance”, “may”, “should”, “could”, “will” or “likely”, and variations of such words and similar expressions are intended to identify such forward-looking statements. Readers are cautioned not to place undue reliance on such statements. Such statements are based on current expectations; actual results in future periods may differ materially from those currently expected or desired because of a number of risks and uncertainties that are beyond the control of Korn Ferry. The potential risks and uncertainties include those relating to global and local political and or economic developments in or affecting countries where we have operations, such as inflation, trade wars, interest rates, labor market conditions, global slowdowns, or recessions, competition, geopolitical tensions, including the recent Middle East conflict, shifts in global trade patterns, changes in demand for our services as a result of automation, dependence on and costs of attracting and retaining qualified and experienced consultants, impact of inflationary pressures on our profitability, our ability to maintain relationships with customers and suppliers and retaining key employees, maintaining our brand name and professional reputation, potential legal liability and regulatory developments, portability of client relationships, consolidation of or within the industries we serve, changes and developments in government laws and regulations, evolving investor and customer expectations with regard to corporate responsibility matters, currency fluctuations in our international operations, risks related to growth, alignment of our cost structure, including as a result of recent workforce, real estate, and other restructuring initiatives, restrictions imposed by off-limits agreements, reliance on information processing systems, cyber security vulnerabilities or events, changes to data security, data privacy, and data protection laws, dependence on third parties for the execution of critical functions, limited protection of our intellectual property, our ability to enhance, develop and respond to new technology, including artificial intelligence, our ability to successfully recover from a disaster or other business continuity problems, employment liability risk, an impairment in the carrying value of goodwill and other intangible assets, treaties, or regulations on our business and our Company, deferred tax assets that we may not be able to use, our ability to develop new products and services, changes in our accounting estimates and assumptions, the utilization and billing rates of our consultants, seasonality, the use of social media platforms, the ability to effect acquisitions and integrate acquired businesses, resulting organizational changes, our indebtedness, and those relating to the ultimate magnitude and duration of any pandemic or outbreaks. For a detailed description of risks and uncertainties that could cause differences from our expectations, please refer to Korn Ferry’s periodic filings with the Securities and Exchange Commission. Korn Ferry disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Use of Non-GAAP Financial Measures

This press release contains financial information calculated other than in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”). In particular, it includes:

Adjusted net income attributable to Korn Ferry, adjusted to exclude accelerated depreciation on our Digital platform, management separation charges, integration/acquisition costs, restructuring charges, impairment of fixed assets, impairment of right-of-use assets and gain on modification of an office lease, net of income tax effect; Adjusted basic and diluted earnings per share, adjusted to exclude cost associated with accelerated depreciation on our Digital platform, management separation charges, integration/acquisition costs, restructuring charges, impairment of fixed assets, impairment of right-of-use assets and gain on modification of an office lease, net of income tax effect; Constant currency (calculated using a quarterly average) percentages that represent the percentage change that would have resulted had exchange rates in the prior period been the same as those in effect in the current period; and Consolidated and Executive Search Adjusted EBITDA, which is earnings before interest, taxes, depreciation and amortization, further adjusted to exclude management separation charges, integration/acquisition costs, restructuring charges, impairment of fixed assets, impairment of right-of-use assets and gain on modification of an office lease, net when applicable, and Consolidated and Executive Search Adjusted EBITDA margin. This non-GAAP disclosure has limitations as an analytical tool, should not be viewed as a substitute for financial information determined in accordance with GAAP, and should not be considered in isolation or as a substitute for analysis of the Company’s results as reported under GAAP, nor is it necessarily comparable to non-GAAP performance measures that may be presented by other companies.

Management believes the presentation of non-GAAP financial measures in this press release provides meaningful supplemental information regarding Korn Ferry’s performance by excluding certain items that may not be indicative of Korn Ferry’s ongoing operating results. These non-GAAP financial measures are performance measures and are not indicative of the liquidity of Korn Ferry. These items, which are described in the footnotes in the attached reconciliations, represent 1) costs associated with previous acquisitions, such as legal and professional fees, retention awards and on-going integration expenses, 2) gain on modification of an office lease where the Company received lease incentives to shorten the lease term, 3) restructuring charges, net to align workforce to eliminate excess capacity resulting from challenging macroeconomic business environment, 4) accelerated depreciation associated with the decision to sunset our Digital platform, 5) impairment of fixed assets primarily due to software impairment charge in our Digital segment, 6) impairment of right-of-use assets due to the decision to terminate and sublease some of our offices and 7) management separation charges due to contractual obligations due upon executive's death. The use of non-GAAP financial measures facilitates comparisons to Korn Ferry’s historical performance. Korn Ferry includes non-GAAP financial measures because management believes they are useful to investors in allowing for greater transparency with respect to supplemental information used by management in its evaluation of Korn Ferry’s ongoing operations and financial and operational decision-making. Adjusted net income attributable to Korn Ferry, adjusted basic and diluted earnings per share and Consolidated and Executive Search Adjusted EBITDA, exclude certain charges that management does not consider on-going in nature and allows management and investors to make more meaningful period-to-period comparisons of the Company’s operating results. Management further believes that Consolidated and Executive Search Adjusted EBITDA is useful to investors because it is frequently used by investors and other interested parties to measure operating performance among companies with different capital structures, effective tax rates and tax attributes and capitalized asset values, all of which can vary substantially from company to company. In the case of constant currency percentages, management believes the presentation of such information provides useful supplemental information regarding Korn Ferry's performance as excluding the impact of exchange rate changes on Korn Ferry's financial performance allows investors to make more meaningful period-to-period comparisons of the Company’s operating results, to better identify operating trends that may otherwise be masked or distorted by exchange rate changes and to perform related trend analysis, and provides a higher degree of transparency of information used by management in its evaluation of Korn Ferry's ongoing operations and financial and operational decision-making.

  KORN FERRY AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME

(in thousands, except per share amounts)

  Three Months Ended
April 30,

Year Ended
April 30,

2026

2025

2026

2025

(unaudited)

Fee revenue

$

759,772

$

712,048

$

2,907,469

$

2,730,088

Reimbursed out-of-pocket engagement expenses

8,484

7,779

31,172

30,998

Total revenue

768,256

719,827

2,938,641

2,761,086

Compensation and benefits

486,737

443,503

1,867,005

1,758,024

General and administrative expenses

67,659

68,623

247,727

258,488

Reimbursed expenses

8,484

7,779

31,172

30,998

Cost of services

82,262

74,827

319,150

285,075

Depreciation and amortization

21,591

20,531

98,844

80,287

Restructuring charges, net

—

—

—

1,892

Total operating expenses

666,733

615,263

2,563,898

2,414,764

Operating income

101,523

104,564

374,743

346,322

Other income (loss), net

6,410

(10,306

)

33,705

18,953

Interest expense, net

(5,056

)

(5,331

)

(19,998

)

(20,363

)

Income before provision for income taxes

102,877

88,927

388,450

344,912

Income tax provision

29,052

23,789

107,630

93,836

Net income

73,825

65,138

280,820

251,076

Net income attributable to noncontrolling interest

(691

)

(894

)

(3,386

)

(5,014

)

Net income attributable to Korn Ferry

$

73,134

$

64,244

$

277,434

$

246,062

Earnings per common share attributable to Korn Ferry:

Basic

$

1.42

$

1.23

$

5.33

$

4.69

Diluted

$

1.39

$

1.21

$

5.22

$

4.60

Weighted-average common shares outstanding:

Basic

50,932

51,599

51,428

51,778

Diluted

51,922

52,504

52,519

52,806

  KORN FERRY AND SUBSIDIARIES

FINANCIAL SUMMARY BY REPORTING SEGMENT

(dollars in thousands)

(unaudited)

  Three Months Ended April 30,

Year Ended April 30,

2026

2025

% Change

2026

2025

% Change

Fee revenue:

Consulting

$

181,920

$

169,363

7.4

%

$

691,654

$

662,708

4.4

%

Digital

89,282

91,634

(2.6

%)

363,523

363,530

—

%

Executive Search:

North America

156,095

143,014

9.1

%

583,394

535,921

8.9

%

EMEA

54,135

53,479

1.2

%

215,134

194,088

10.8

%

Asia Pacific

24,622

23,630

4.2

%

97,527

87,337

11.7

%

Latin America

7,099

6,880

3.2

%

28,049

28,862

(2.8

%)

Total Executive Search (a)

241,951

227,003

6.6

%

924,104

846,208

9.2

%

Professional Search & Interim

149,060

130,710

14.0

%

561,077

503,515

11.4

%

RPO

97,559

93,338

4.5

%

367,111

354,127

3.7

%

Total fee revenue

759,772

712,048

6.7

%

2,907,469

2,730,088

6.5

%

Reimbursed out-of-pocket engagement expenses

8,484

7,779

9.1

%

31,172

30,998

0.6

%

Total revenue

$

768,256

$

719,827

6.7

%

$

2,938,641

$

2,761,086

6.4

%

KORN FERRY AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(in thousands, except per share amounts)

  April 30,
2026

April 30,
2025

ASSETS

Cash and cash equivalents

$

1,095,445

$

1,006,964

Marketable securities

38,914

36,388

Receivables due from clients, net of allowance for doubtful accounts of $42,527 and $40,461 at April 30, 2026 and 2025, respectively

573,350

565,255

Income taxes and other receivables

75,410

38,394

Unearned compensation

64,421

61,649

Prepaid expenses and other assets

58,437

41,488

Total current assets

1,905,977

1,750,138

Marketable securities, non-current

247,132

233,626

Property and equipment, net

191,531

173,610

Operating lease right-of-use assets, net

170,986

152,712

Cash surrender value of company-owned life insurance policies, net of loans

289,058

252,621

Deferred income taxes

113,207

144,560

Goodwill

950,636

948,832

Intangible assets, net

45,858

70,193

Unearned compensation, non-current

118,592

106,965

Investments and other assets

31,799

27,967

Total assets

$

4,064,776

$

3,861,224

LIABILITIES AND STOCKHOLDERS' EQUITY

Accounts payable

$

49,682

$

58,884

Income taxes payable

19,573

23,079

Compensation and benefits payable

570,242

530,473

Operating lease liability, current

28,111

38,573

Other accrued liabilities

314,402

304,589

Total current liabilities

982,010

955,598

Deferred compensation and other retirement plans

510,774

477,770

Operating lease liability, non-current

164,899

131,762

Long-term debt

398,565

397,736

Deferred tax liabilities

5,723

5,981

Other liabilities

23,902

20,238

Total liabilities

2,085,873

1,989,085

Stockholders' equity

Common stock: $0.01 par value, 150,000 shares authorized, 79,203 and 78,264 shares issued and 50,225 and 51,458 shares outstanding at April 30, 2026 and 2025, respectively

284,370

364,425

Retained earnings

1,761,063

1,588,274

Accumulated other comprehensive loss, net

(72,827

)

(86,243

)

Total Korn Ferry stockholders' equity

1,972,606

1,866,456

Noncontrolling interest

6,297

5,683

Total stockholders' equity

1,978,903

1,872,139

Total liabilities and stockholders' equity

$

4,064,776

$

3,861,224

  KORN FERRY AND SUBSIDIARIES

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES

(dollars in thousands)

(unaudited)

  Three Months Ended
April 30,

Year Ended
April 30,

2026

2025

2026

2025

Net income attributable to Korn Ferry

$

73,134

$

64,244

$

277,434

$

246,062

Net income attributable to non-controlling interest

691

894

3,386

5,014

Net income

73,825

65,138

280,820

251,076

Income tax provision

29,052

23,789

107,630

93,836

Income before provision for income taxes

102,877

88,927

388,450

344,912

Interest expense, net

5,056

5,331

19,998

20,363

Depreciation and amortization (1)

21,591

20,531

98,844

80,287

Management separation charges (2)

—

4,614

—

4,614

Integration/acquisition costs (3)

—

1,738

4,420

8,837

Gain on modification of office lease (4)

—

—

(13,907

)

—

Impairment of right-of-use assets (5)

—

—

—

2,452

Impairment of fixed assets (6)

—

—

—

509

Restructuring charges, net (7)

—

—

—

1,892

Adjusted EBITDA

$

129,524

$

121,141

$

497,805

$

463,866

Net income attributable to Korn Ferry margin

9.6

%

9.0

%

9.5

%

9.0

%

Net income attributable to non-controlling interest

0.1

%

0.1

%

0.1

%

0.2

%

Income tax provision

3.8

%

3.3

%

3.7

%

3.4

%

Interest expense, net

0.7

%

0.8

%

0.7

%

0.8

%

Depreciation and amortization (1)

2.8

%

2.9

%

3.4

%

2.9

%

Management separation charges (2)

—

%

0.7

%

—

%

0.2

%

Integration/acquisition costs (3)

—

%

0.2

%

0.2

%

0.3

%

Gain on modification of office lease (4)

—

%

—

%

(0.5

%)

—

%

Impairment of right-of-use assets (5)

—

%

—

%

—

%

0.1

%

Impairment of fixed assets (6)

—

%

—

%

—

%

0.0

%

Restructuring charges, net (7)

—

%

—

%

—

%

0.1

%

Adjusted EBITDA margin

17.0

%

17.0

%

17.1

%

17.0

%

Net income attributable to Korn Ferry

$

73,134

$

64,244

$

277,434

$

246,062

Accelerated depreciation on Digital platform (1)

—

—

13,846

—

Management separation charges (2)

—

4,614

—

4,614

Integration/acquisition costs (3)

—

1,738

4,420

8,837

Gain on modification of office lease (4)

—

—

(13,907

)

—

Impairment of right-of-use assets (5)

—

—

—

2,452

Impairment of fixed assets (6)

—

—

—

509

Restructuring charges, net (7)

—

—

—

1,892

Tax effect on the adjusted items (8)

380

(487

)

(863

)

(3,187

)

Adjusted net income attributable to Korn Ferry

$

73,514

$

70,109

$

280,930

$

261,179

Explanation of Non-GAAP Adjustments

(1)

Depreciation and amortization includes $13.8 million of accelerated depreciation associated with the decision to sunset our Digital platform in the year ended April 30, 2026.

(2)

Contractual obligations due upon executive's death.

(3)

Costs associated with previous acquisitions, such as legal and professional fees, retention awards and the on-going integration expenses.

(4)

Gain on the modification of an office lease where the Company received lease incentives to shorten the lease term.

(5)

Costs associated with impairment of right-of-use assets due to terminating and deciding to sublease some of our offices.

(6)

Costs associated with impairment of fixed assets primarily due to software impairment charge in our Digital segment.

(7)

Restructuring charges incurred to align our workforce to eliminate excess capacity resulting from challenging macroeconomic business environment.

(8)

Tax effect on accelerated depreciation on Digital platform, management separation charges, integration/acquisition costs, gain on modification of office lease, impairment of right-of-use assets and fixed assets, and restructuring charges, net.

KORN FERRY AND SUBSIDIARIES

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES - CONTINUED

(unaudited)

  Three Months Ended
April 30,

Year Ended
April 30,

2026

2025

2026

2025

Basic earnings per common share

$

1.42

$

1.23

$

5.33

$

4.69

Accelerated depreciation on Digital platform (1)

—

—

0.27

—

Management separation charges (2)

—

0.09

—

0.09

Integration/acquisition costs (3)

—

0.03

0.09

0.17

Gain on modification of office lease (4)

—

—

(0.27

)

—

Impairment of right-of-use assets (5)

—

—

—

0.05

Impairment of fixed assets (6)

—

—

—

0.01

Restructuring charges, net (7)

—

—

—

0.03

Tax effect on the adjusted items (8)

0.01

(0.01

)

(0.02

)

(0.06

)

Adjusted basic earnings per share

$

1.43

$

1.34

$

5.40

$

4.98

Diluted earnings per common share

$

1.39

$

1.21

$

5.22

$

4.60

Accelerated depreciation on Digital platform (1)

—

—

0.26

—

Management separation charges (2)

—

0.09

—

0.09

Integration/acquisition costs (3)

—

0.03

0.08

0.16

Gain on modification of office lease (4)

—

—

(0.26

)

—

Impairment of right-of-use assets (5)

—

—

—

0.05

Impairment of fixed assets (6)

—

—

—

0.01

Restructuring charges, net (7)

—

—

—

0.03

Tax effect on the adjusted items (8)

0.01

(0.01

)

(0.02

)

(0.06

)

Adjusted diluted earnings per share

$

1.40

$

1.32

$

5.28

$

4.88

Explanation of Non-GAAP Adjustments

(1)

Depreciation and amortization includes $13.8 million of accelerated depreciation associated with the decision to sunset our Digital platform in the year ended April 30, 2026.

(2)

Contractual obligations due upon executive's death.

(3)

Costs associated with previous acquisitions, such as legal and professional fees, retention awards and the on-going integration expenses.

(4)

Gain on the modification of an office lease where the Company received lease incentives to shorten the lease term.

(5)

Costs associated with impairment of right-of-use assets due to terminating and deciding to sublease some of our offices.

(6)

Costs associated with impairment of fixed assets primarily due to software impairment charge in our Digital segment.

(7)

Restructuring charges incurred to align our workforce to eliminate excess capacity resulting from challenging macroeconomic business environment.

(8)

Tax effect on accelerated depreciation on Digital platform, management separation charges, integration/acquisition costs, gain on modification of office lease, impairment of right-of-use assets and fixed assets, and restructuring charges, net.

KORN FERRY AND SUBSIDIARIES

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES - CONTINUED

(dollars in thousands)

(unaudited)

  Three Months Ended April 30,

2026

2025

Net income attributable to

Korn Ferry

Net income attributable to

Korn Ferry margin

Net income attributable to

Korn Ferry

Net income attributable to

Korn Ferry margin

Consolidated

$

73,134

9.6

%

$

64,244

9.0

%

Fee revenue

Total revenue

Adjusted EBITDA

Adjusted EBITDA margin

Fee revenue

Total revenue

Adjusted EBITDA

Adjusted EBITDA margin

Consulting

$

181,920

$

185,298

$

30,923

17.0

%

$

169,363

$

172,537

$

29,055

17.2

%

Digital

89,282

89,702

27,691

31.0

%

91,634

91,642

28,477

31.1

%

Executive Search:

North America

156,095

157,748

48,371

31.0

%

143,014

144,673

39,062

27.3

%

EMEA

54,135

54,440

9,199

17.0

%

53,479

53,773

9,092

17.0

%

Asia Pacific

24,622

24,817

5,290

21.5

%

23,630

23,802

4,965

21.0

%

Latin America

7,099

7,108

1,106

15.6

%

6,880

6,884

1,103

16.0

%

Total Executive Search

241,951

244,113

63,966

26.4

%

227,003

229,132

54,222

23.9

%

Professional Search & Interim

149,060

150,419

33,863

22.7

%

130,710

131,674

27,426

21.0

%

RPO

97,559

98,724

15,455

15.8

%

93,338

94,842

14,499

15.5

%

Corporate

—

—

(42,374

)

—

—

(32,538

)

Consolidated

$

759,772

$

768,256

$

129,524

17.0

%

$

712,048

$

719,827

$

121,141

17.0

%

Year Ended April 30,

2026

2025

Net income attributable to

Korn Ferry

Net income attributable to

Korn Ferry margin

Net income attributable to

Korn Ferry

Net income attributable to

Korn Ferry margin

Consolidated

$

277,434

9.5

%

$

246,062

9.0

%

Fee revenue

Total revenue

Adjusted EBITDA

Adjusted EBITDA margin

Fee revenue

Total revenue

Adjusted EBITDA

Adjusted EBITDA margin

Consulting

$

691,654

$

704,129

$

118,413

17.1

%

$

662,708

$

674,070

$

115,481

17.4

%

Digital

363,523

364,383

113,129

31.1

%

363,530

363,727

112,696

31.0

%

Executive Search:

North America

583,394

589,313

173,703

29.8

%

535,921

542,068

148,242

27.7

%

EMEA

215,134

216,517

36,572

17.0

%

194,088

195,268

31,689

16.3

%

Asia Pacific

97,527

98,138

21,475

22.0

%

87,337

87,840

18,119

20.7

%

Latin America

28,049

28,092

5,603

20.0

%

28,862

28,876

8,149

28.2

%

Total Executive Search

924,104

932,060

237,353

25.7

%

846,208

854,052

206,199

24.4

%

Professional Search & Interim

561,077

566,253

121,156

21.6

%

503,515

507,246

107,600

21.4

%

RPO

367,111

371,816

57,658

15.7

%

354,127

361,991

52,635

14.9

%

Corporate

—

—

(149,904

)

—

—

(130,745

)

Consolidated

$

2,907,469

$

2,938,641

$

497,805

17.1

%

$

2,730,088

$

2,761,086

$

463,866

17.0

%

Key Takeaways Korn Ferry will shift reporting to the Americas, EMEA and APAC segments starting in fiscal 2027.KFY's referral rate rose to 29.1%, while Marquee and Diamond accounts held 40% of fee revenues.Korn Ferry saw Q4 fee revenues rise 6.7%, led by 14% growth in Professional Search & Interim. Korn Ferry (KFY - Free Report) used its fourth-quarter call to do more than highlight another quarter of growth. Management used the discussion to frame a broader operating shift, arguing the firm is now better positioned to sell across clients, geographies and solutions.

The headline numbers were solid, but the more important takeaway was strategic. Executives spent much of the call explaining how a more regionally oriented model is meant to deepen client penetration and sustain growth even as macro conditions remain uneven.

KFY Recasts How It Wants to Be MeasuredPresident and CEO Gary Burnison said Korn Ferry is moving away from presenting itself as a set of separate solutions and toward a more integrated, client-centric firm. He tied that change to the company’s “We Are Korn Ferry” push and said the next phase is meant to make the whole organization work more cohesively around customers.

Beginning in the first quarter of fiscal 2027, external reporting will shift to three regional segments: the Americas, EMEA and APAC. Solution details will still be disclosed, but under broader groupings spanning search, talent and organizational solutions, and workforce solutions.

That was a notable call theme because it signals that management wants investors to judge execution less by isolated business lines and more by how effectively the firm integrates offerings across accounts and markets. Burnison said the organization had been too solution-weighted and needed to pivot more toward geography.

Korn Ferry Leans Harder on Cross-SellingExecutive vice president, CFO and chief corporate officer Robert Rozek pointed to a 29.1% business referral rate in the quarter, up about 320 basis points, as evidence that the cross-selling push is gaining traction. He also said Marquee and Diamond accounts remained at 40% of consolidated fee revenues.

Rozek said the company is reviewing larger new engagements in a highly structured way, with regional, solution and industry leaders involved. In management’s view, that process is helping Korn Ferry win an initial mandate and then expand the relationship across the firm.

The financial backdrop supported that message. Estimated remaining fees under existing contracts rose 10% year over year to $1.883 billion, with management saying growth came from every solution. About 57% of that backlog is expected to be recognized over the next year.

KFY Finds Its Best Momentum in SearchKorn Ferry’s adjusted earnings per share came in at $1.40, which topped the Zacks Consensus Estimate of $1.37 by 2.2%. Fourth-quarter revenues rose 6.7% year over year to $759.8 million, beating the Zacks Consensus Estimate of $739.5 million by 2.7%.

The strongest operating momentum came from Professional Search & Interim, where fee revenues increased 14% to $149.1 million. Executive Search also remained healthy, with fee revenues up 7% to $242.0 million and adjusted EBITDA margin expanding to 26.4% from 23.9% a year earlier.

Burnison said Executive Search is moving upmarket, with higher average fees reflecting work at more senior organizational levels. On interim staffing, he said the business is benefiting both from internal referrals and from higher-value demand in areas such as technology, finance and accounting, HR and supply chain.

Korn Ferry Sees Pockets of External PressureNot every business line moved the same way. Digital fee revenues fell 3% in the quarter to $89.3 million, although subscription and license fee revenues increased to $38.0 million from $34.5 million. Consulting and RPO each posted 7% and 5% fee revenue growth, respectively.

On the macro front, management was explicit that the recent Middle East conflict hurt new business trends outside the Americas. Burnison told analysts that the disruption affected EMEA, the Middle East and APAC, even as demand in the Americas remained strong over the trailing four months.

That backdrop shaped a measured near-term outlook. Korn Ferry guided first-quarter fiscal 2027 fee revenues to $725 million to $745 million and earnings per share to $1.32 to $1.38, while Rozek said adjusted EBITDA margin should stay around 17%.

KFY Uses Q&A to Clarify Margins and AIWhen analysts pressed on the flat fourth-quarter adjusted EBITDA margin, Burnison said the main reason was higher bonus expense tied to stronger-than-expected revenue performance. Management framed that as a trade-off it was willing to accept in exchange for better top-line delivery.

On consulting, Burnison said the firm is challenging itself to move beyond traditional pricing structures and capture more value-based economics over time. He did not present a near-term change, but the comments suggested pricing model evolution is part of the broader strategic agenda.

AI also drew scrutiny. Burnison said Korn Ferry is already seeing efficiency gains across work streams, particularly in search, but stressed that the company is prioritizing customer experience and the protection of its proprietary assessment and client data over simply extracting cost savings.

Korn Ferry Keeps Growth and Capital in BalanceManagement’s overall tone was confident but not carefree. Burnison repeatedly emphasized the size of Korn Ferry’s market opportunity and said the company now thinks in billions rather than hundreds of millions, yet he paired that ambition with caution around geopolitics and client spending conditions.

Capital allocation remained disciplined. Korn Ferry repurchased 1.24 million shares for $78.8 million in the quarter, returned $221 million to shareholders during fiscal 2026 through buybacks and dividends, and invested $85 million in capital spending tied to Talent Suite and productivity tools.

Zacks Signals on KFYKFY carries a Zacks Rank #3 (Hold), while its Value Score is A, Growth Score is B, Momentum Score is A, and VGM Score is A. Under the Zacks framework, the rank is the primary signal for near-term earnings revision momentum, while stronger Style Scores point to more attractive value, growth and momentum characteristics. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

That combination points to balanced near-term prospects rather than a clear bullish or bearish signal. The A-rated VGM profile is favorable on combined style traits, but the Zacks framework places greater weight on estimate revisions, meaning the current Zacks Rank can change as analysts update forecasts after the latest results.

FactSet Research Systems Inc. (NYSE:FDS) will release its third quarter earnings report after the closing bell on Wednesday, July 1.

Analysts expect the Norwalk, Connecticut-based company to report quarterly earnings of $4.45 per share, up from $4.27 per share in the year-ago period. The consensus estimate for FactSet Research’s quarterly revenue is $617.59 million. It reported $585.52 million last year, according to Benzinga Pro.

On May 5, FactSet raised its quarterly dividend from $1.10 per share to $1.16 per share.

FactSet Research shares fell 0.2% to close at $218.15 on Tuesday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

Considering buying FDS stock? Here’s what analysts think:

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Native AI agents added to RingCX workflows giving businesses automated outreach, intelligent handoffs, and more

LAS VEGAS--(BUSINESS WIRE)--RingCentral, Inc. (NYSE: RNG) today announced the expansion of AIR Pro™ to deliver agentic AI capabilities across the RingCentral customer engagement portfolio. The expansion includes new capabilities within RingCX™ that help businesses with end-to-end customer resolution, automated outreach, and intelligent hand-offs. These enhancements also strengthen how customer context is captured and carried within RingCX. When a conversation transfers to a live agent, that agent has a more complete picture, including prior interactions, data from connected systems via APIs, and relevant recordings — without having to ask the customer to repeat themselves. The context layer continuously informs itself, getting smarter with every interaction.

“RingCentral offers the broadest range of customer engagement solutions that address both informal and formal contact center requirements. Our announcement today is about expanding AIR Pro and adding key updates to RingCX as we make progress toward our vision of AI agents and humans working together,” said Jim Dvorkin, SVP of Customer Experience Products at RingCentral. “Our innovations for RingCX continue to be well received by our customers. The addition of native AI agents, along with autonomous outreach, intelligent handoffs, and our AI powered workflow builder for RingCX helps businesses improve customer experiences and achieve measurable results.”

Where Humans and AI Agents Work Together

Highlighted at Customer Contact Week (CCW) Las Vegas 2026, RingCentral rolled out the following updates:

Native AI Agents: Embedded directly into RingCX workflows, native AI agents help with inbound and outbound interactions across voice and digital channels. For example, a business can run multi-step workflows from start to finish, such as confirm an appointment, handle verification, and update a record all within a single call. Autonomous Outreach: Leverage AI agents to proactively initiate conversation outreach triggered by real-time events: appointment reminders, payment notifications, service updates. For example, a credit card payment is missed. AIR Pro calls the customer, confirms the outstanding balance, offers payment options, and processes the payment over the phone. Intelligent Handoffs: When a conversation requires human judgment or empathy, AI agents in RingCX can transfer seamlessly to live agents, carrying full customer history and CRM data so the conversation continues without interruption, repetition, or lost context. AI-powered Workflow Builder: A natural language interface for building RingCX workflows on-demand, customers are able to prompt commands through RingCX’s AI Virtual Assistant (AVA) describing what they need, and it creates a workflow automatically — no coding, no technical resources required. AI-powered RingCX Analytics: Enables business and contact center leaders to prompt questions through RingCentral’s AI Virtual Assistant (AVA) within the RingCX interface to retrieve answers and specific metrics. For example, a newly hired supervisor can ask, "What report should I use to see an agent’s attendance and performance?" and AVA surfaces the answer instantly. New WEM Capabilities

RingCentral’s native WEM solution, called RingWEM, brings together AI Quality Management, AI Interaction Analytics, and AI Workforce Management embedded directly into RingCX – helping businesses reduce average call handle times, and improve customer satisfaction without a fragmented toolset that has long held back contact center performance. New RingWEM capabilities include:

RingWEM with Live Screen Monitoring: This gives supervisors visibility into how agents handle customer interactions, with the ability to whisper, coach, or step in without disrupting the customer experience. For example, it gives supervisors visibility during the call, seeing the agent’s screen in real time, and watching how agents address a problem, while giving coaching suggestions when the conversation is still live. Added Digital Channels

RingCX supports more than 20 digital channels, along with inbound and outbound voice allowing agents to manage various customer interactions from a single, unified interface. RingCX goes beyond the standard support for WhatsApp Messaging, and now includes WhatsApp Voice support.

WhatsApp Voice Support: With WhatsApp Voice in RingCX, customers can move from a messaging conversation to voice without leaving WhatsApp. The agent picks up the call with a complete view of the customer journey, including a summary of each interaction. “As a RingCX and AIR Pro customer, we're expanding our use of AI to drive a consistent customer experience while also enabling more automated AI and human interactions,” said Jaimie Bell, VP of Client Solutions at Office Gurus. “The expansion of AI Agents in RingCX, powered by AIR Pro, is really exciting. We're looking forward to it giving us more control and visibility into deploying AI agents at scale without sacrificing the quality our customers expect. We're early in implementation, and already seeing how AI agents will help us move faster, reduce manual overhead, and deliver a more seamless customer experience.”

RingCX Momentum

As of the end of Q1 2026, more than 1,700 businesses have adopted RingCX, up over 70% year-over-year – with more than half of them utilizing AI.

RingCX customers are achieving measurable results across industries. For example, in healthcare, Sun River Health achieved a 95% first-call resolution rate — 25% above industry standard. In entertainment, The Escape Game reduced costs by 50% while increasing bookings by 7%, and the San Diego Symphony cut box office hold times by 95%.

“The industry is moving beyond AI assistants towards increasingly autonomous AI agents that can participate in customer journeys alongside human workers,” said Hayley Sutherland, Conversational AI Analyst at IDC. “Organizations will need a common framework for managing performance, quality, analytics, and governance across both — and having that native to the contact center platform is the right approach. RingCentral's direction reflects its commitment to both supporting its customers with the capabilities needed today, and taking them where the market is headed.”

Pricing & Availability

Native AI Agents in RingCX and Automated Outreach will be available on a consumption basis, aligned with AIR Pro pricing. RingWEM with Live Screen Monitoring — will be priced on a seat basis or included in the RingCX Ultimate tier. New RingCX capabilities are currently in beta with general availability in 2H 2026. AI-powered RingCX Analytics and RingWEM with Live Screen Monitoring will be available in Q3.

For additional details or demo requests, visit the RingCentral booth #411 at CCW Las Vegas, or click here.

Join the RingCentral “CCW Special Edition” of AI Real Talk—Live or on-demand Elevate Every Customer Experience: Keeping Humans in the Loop While Scaling AI June 23 | 10:00 AM PT / 1:00 PM ET

About RingCentral

RingCentral is a global leader in AI–powered customer engagement, delivering an integrated platform for business phone, SMS, contact center, workforce engagement management, video collaboration, and messaging. Powered by advanced AI capabilities, RingCentral delivers intelligence at every phase of the conversation journey — before, during, and after each human interaction. With RingCentral, businesses can work smarter, respond faster, and connect more meaningfully with their customers. Visit ringcentral.com to learn more.

©2026 RingCentral, Inc. All rights reserved. RingCentral, RingCX, RingCentral AIR Pro, and the RingCentral logo are trademarks of RingCentral, Inc.

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Key Takeaways ACHR plans to use Hawthorne Airport as the operational hub for its Los Angeles air taxi network.The site will support takeoff, landing, maintenance, passenger handling and ground operations.ACHR is planning up to 200,000 sq. ft. of hangar space for air mobility and innovation activities. Archer Aviation Inc. (ACHR - Free Report) is giving its air taxi strategy a stronger operating base through its control of Hawthorne Airport near Los Angeles International Airport and Downtown Los Angeles. The company plans to use the site as the operational hub for its Los Angeles network while also developing it as an innovation center for next-generation AI-powered aviation technologies. This makes the airport more than a real estate asset. It can become a testing and coordination point for the company’s broader urban air mobility ambitions.

The move is important because commercial air taxi service will require more than certified aircraft. Archer Aviation will also need take-off and landing access, hangar capacity, maintenance support, passenger handling systems, ground operations and local regulatory coordination. Hawthorne Airport gives the company a place to bring many of these requirements together in one market that could be important for early adoption.

Archer Aviation also expects to prepare the site for planned air taxi operations in the Los Angeles area and potential use around the LA28 Olympic Games. The company has discussed the redevelopment of up to 200,000 square feet of hangar space and the creation of an advanced air mobility center of excellence. Over time, Archer Aviation aims to add AI-supported features such as air traffic coordination, ground operations management, maintenance detection and smoother passenger screening.

The company noted that capital projects at Hawthorne may face cost, permitting, labor, regulatory and schedule risks. If Archer Aviation can manage these challenges, Hawthorne Airport could support its shift from aircraft development toward real-world air taxi operations.

Companies Expanding Air Mobility NetworksAs companies move closer to commercial air mobility services, building operational networks is becoming increasingly important. Companies like Joby Aviation, Inc. (JOBY - Free Report) and Eve Holding, Inc. (EVEX - Free Report) are also expanding networks to support future air mobility operations.

Joby Aviation is developing flight networks and operational capabilities to support the planned rollout of its electric air taxi services.

Eve Holding is working with partners and stakeholders to help establish the network needed for future urban air mobility operations.

Earnings Estimates for ACHR StockThe Zacks Consensus Estimate for 2026 and 2027 earnings per share suggests a year-over-year decline of 61.90% and growth of 7.51%, respectively.

Image Source: Zacks Investment Research

ACHR Stock Trading at a DiscountArcher Aviation is trading at a discount relative to the industry, with a trailing 12-month price-to-book of 1.98X compared with the industry average of 6.03X

Image Source: Zacks Investment Research

ACHR Stock Price PerformanceOver the past three months, ACHR shares have fallen 1.5% compared with the industry’s 0.2% decline.

Image Source: Zacks Investment Research

ACHR’s Zacks RankArcher Aviation currently has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Key Takeaways Iron Mountain's recurring storage revenues and pricing supported strong first-quarter 2026 growth. IRM's data center revenues jumped 47.1% as leasing stayed strong and utilization remained high.IRM grew digital and asset lifecycle businesses over 50% year over year, boosting service revenues. Iron Mountain Incorporated (IRM - Free Report) shares have rallied 30.2% in the past three months compared with the industry’s growth of 10.2%.

Iron Mountain’s recurring storage rental revenues remain resilient through pricing and strong retention, while rapid data center expansion, robust leasing demand, and growing digital and asset lifecycle management businesses continue to drive growth and diversify revenues beyond traditional records storage.

Analysts seem bullish on this Zacks Rank #3 (Hold) stock. The Zacks Consensus Estimate for its 2026 AFFO per share has been revised northward by 13 cents to $5.85 over the past two months.

Image Source: Zacks Investment Research

Factors Behind IRM Stock’s Price SurgeIron Mountain continues to rely on highly recurring storage rental revenues, supported by pricing, revenue management and strong customer retention. In the first quarter of 2026, consolidated storage rental revenues increased 15.4% year over year, while Global RIM storage rental grew 8.7%. These results indicate that pricing and revenue management continue to help offset gradual declines in physical storage volumes. Management also highlighted that the physical records storage business delivered its best quarterly growth in years, helping fund investment in faster-growing offerings.

The Global Data Center business remains Iron Mountain's primary growth engine, benefiting from sustained enterprise and hyperscale demand for secure, interconnected capacity. In the first quarter of 2026, data center revenues increased 47.1% year over year to $254.7 million, driven primarily by 46% increase in storage rental revenues, while adjusted EBITDA margin remained above 50% at 52.1%. The operating portfolio reached 507.2 megawatt (MW) from 424.2 MW a year ago and was 97.2% leased, reflecting strong utilization. Leasing activity remained healthy, with 21,849 kilowatt (KW) of new and expansion leases signed during the quarter.

Management reported 32 MW of data center leasing from the beginning of the year through April 2026, suggesting demand carried into the early second quarter. Churn remained low at 0.4%, while cash mark-to-market was 12%, pointing to pricing power on renewals. The development pipeline also expanded, with 181.5 MW under construction and 684.2 MW held for future development, bringing total potential data center capacity to 1.37 gigawatt (GW). This robust pipeline supports the company’s strategy to build and energize capacity ahead of demand and sustain high growth rates as more sites come online.

Iron Mountain is broadening beyond traditional records storage through digital and asset lifecycle management capabilities that management is increasingly cross-selling across its large customer base. Management said that the data center, digital and ALM businesses grew more than 50% year over year in first-quarter 2026, while consolidated service revenues rose 30.6% year over year to $841 million.

Within Global RIM, service revenues increased 16.5% year over year, indicating healthy demand for higher-value services alongside storage. Recent acquisitions in IT asset disposition and logistics capabilities extend the lifecycle offering set and deepen customer relationships, which can improve wallet share over time, even as paper-based workflows evolve. The company’s global footprint and broad customer mix also help scale these newer offerings across regions and industries.

Key Concerns for Iron MountainCompetition from other industry players is likely to lead to aggressive pricing pressure and hurt Iron Mountain’s prospects. High interest expenses and adverse foreign currency movements remain a concern.

Stocks to ConsiderSome better-ranked stocks from the broader REIT sector are Lamar Advertising (LAMR - Free Report) and Vornado Realty Trust (VNO - Free Report) , each carrying a Zacks Rank of 2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The Zacks Consensus Estimate for LAMR’s 2026 FFO per share is pegged at $8.81, which indicates year-over-year growth of 6.66%.

The Zacks Consensus Estimate for VNO’s full-year FFO per share is pinned at $2.34, which calls for an increase of 0.86% from the year-ago period.

Note: Anything related to earnings presented in this write-up represents FFO, a widely used metric to gauge the performance of REITs.

Key Takeaways DGX posted strong physician channel growth and expanded hospital and consumer testing initiatives.DGX saw double-digit AD-Detect blood test revenue growth and expanded oncology MRD offerings.DGX is advancing AI, automation and Project Nova while managing a sizable debt load. Quest Diagnostics (DGX - Free Report) is well-poised for growth in the coming quarters, supported by its continued focus on meeting the evolving needs of its core customers — physicians, hospitals and consumers. The company is seeing continued momentum in Advanced Diagnostics, including the strong uptake of the AD-Detect blood test. Efforts to drive operational improvements through the adoption of AI, automation and other technologies also sound very encouraging. Yet, Quest Diagnostics’ solvency level remains a concern. Macroeconomic pressures can weigh on its operations, too.

Over the past year, this Zacks Rank #3 (Hold) stock has rallied 7.7% compared with the industry’s 8.2% growth and the S&P 500 composite’s 23.2% rise. 

The renowned provider of diagnostic information services has a market capitalization of $21.59 billion. Quest Diagnostics has an earnings yield of 5.50%. The company’s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 3.50%.

Tailwinds Supporting DGXGrowth Momentum in Base Business: Quest Diagnostics delivered high single-digit growth in physician channel revenues in first-quarter 2026, driven by strong demand for innovative testing solutions, expanded health plan access and enterprise account growth. The company also recorded growth in end-stage renal disease, a newer clinical area focused on lab testing for dialysis patients. Volume growth was driven by Fresenius Medical Care’s dialysis network and contributions from newly added independent dialysis clinics and other providers.

In the hospital channel, the company’s flexible solutions allow customers to free up capital while accessing diagnostic innovation and expertise. In early 2026, Quest Diagnostics began scaling its Co-Lab Solutions, including reference laboratory testing, professional laboratory management services, laboratory workforce and supply-chain management, and analytics across all 21 hospitals of Corewell Health.

Image Source: Zacks Investment Research

The consumer-testing platform, QuestHealth.com, continues to gain strong momentum. Quest Diagnostics is deepening partnerships with leading consumer health and wellness brands like WHOOP and OURA Health, integrating its extensive laboratory testing and technology directly into their mobile platforms.

Strong Potential of Advanced Diagnostics: Quest Diagnostics drives growth across its customer channels through fast-growing, advanced diagnostics spanning five clinical areas — advanced cardiometabolic, autoimmune, brain health, oncology, and women's and reproductive health. In brain health, revenues from the AD-Detect blood test for Alzheimer's disease continued to grow at a double-digit rate in the first quarter of 2026.
The cardiometabolic and endocrine portfolio growth was driven by robust demand for tests of Lp(a) and ApoB, as well as for kidney, liver and reproductive hormones.

In oncology, the company continues to build its presence in blood-based minimal residual disease (MRD) testing. In January 2026, new research presented at the ASCO Gastrointestinal Cancers Symposium highlighted the strong clinical value of Quest Haystack MRD in monitoring colorectal cancer. The company also launched the Flow Cytometry MRD blood test for myeloma.

Operational Excellence, a Strategic Priority: Quest Diagnostics’ Invigorate program consistently targets 2% annual savings through structured plans to drive savings and improve productivity across the value chain.  The company is deploying automation and AI technologies to improve quality, service, efficiency and the workforce experience. The new Quest AI Companion tool transforms complex biomarker data and reference ranges on test reports into clear, plain language. Quest Diagnostics is scaling the planning and design work for Project Nova, a multi-year initiative to transform its order-to-cash processes and systems and is on track to implement the first wave of solutions in the fall of 2027.

What Ails DGX?Escalating Debt Level: At the end of the first quarter of 2026, long-term debt totaled $5.16 billion, while the cash and cash equivalent balance was only $393 million. The current portion of the debt was $503 million. Debt-to-capital ratio was 42.5%, down sequentially 1.6%.  A higher debt level induces higher interest payments, which come along with the risk of failure to pay the same. The times interest ratio, which indicates the company’s capacity to pay interest, was 6.3% in the quarter. 

Unstable Macroeconomic Backdrop: As the U.S. healthcare system continues to evolve, Quest Diagnostics faces several inherent risks. Government payers, such as Medicare and Medicaid, have taken steps to reduce the utilization and reimbursement of healthcare services, including clinical testing services. The industry-wide trend of consolidation has resulted in larger insurance plans with significant bargaining power, making it difficult for Quest Diagnostics to negotiate fee arrangements and possibly limiting access to its newer innovative solutions. With the new U.S. administration in place, any changes in U.S. healthcare regulation could have a material adverse effect on the company’s business.

DGX Stock Estimate TrendThe Zacks Consensus Estimate for Quest Diagnostics’ 2026 earnings per share (EPS) has remained constant at $10.72 in the past 30 days. 

The consensus estimate for the company’s 2026 revenues is pegged at $11.83 billion. This suggests 7.2% growth from the year-ago reported number.

Key PicksSome better-ranked stocks in the broader medical space are Globus Medical (GMED - Free Report) , Align Technology (ALGN - Free Report) and Integra LifeSciences (IART - Free Report) .

Globus Medical has an earnings yield of 5.9% compared to the industry’s negative 3.5% yield. Its earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 26.3%. GMED shares have rallied 35% against the industry’s 6.3% fall over the past year.

GMED sports a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Align Technology, sporting a Zacks Rank #1, has an estimated long-term earnings growth rate of 10.3% compared with the industry’s 5.5% growth. Shares of the company have dropped 6.8% against the industry’s 7.8% growth. ALGN’s earnings outpaced estimates in three of the trailing four quarters and missed on one occasion, the average surprise being 7.8%.

Integra LifeSciences, carrying a Zacks Rank #2 (Buy), has an earnings yield of 13.6% against the industry’s negative 3.5% yield. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 16.7%. IART shares have rallied 48.3% against the industry’s 6.4% decline over the past year.

Stanley Druckenmiller’s Duquesne Family Office disclosed positions in Arm Holdings (NASDAQ: ARM | ARM Price Prediction), Sea Limited (NYSE: SE), and STMicroelectronics (NYSE: STM) in its Q1 2026 13F, filed May 15, 2026. According to the filing, Arm was an addition during the quarter at roughly a 0.5% portfolio weight, while Sea and STMicro were larger existing positions at approximately 2.7% each. Because 13Fs are point-in-time snapshots reported about 45 days after quarter end, these reflect holdings only as of March 31 and may have changed since.

The connecting thesis across all three is AI compute at different points on the value chain: Arm’s CPU intellectual property for hyperscaler data centers, STMicro’s specialty silicon and AWS data center partnership, and Sea’s AI-enabled commerce, fintech, and gaming ecosystem in Southeast Asia and Latin America.

Arm Holdings: An Add, but the Math Is Stretched Bull case: Arm posted Q4 FY2026 revenue of $1.49 billion, up 20.1% year over year, with non-GAAP EPS of $0.60 and data center royalty revenue more than doubling. CEO René Haas framed “Arm AGI CPU” demand as exceeding expectations, with more than $2 billion in customer commitments across FY27 and FY28. Analyst sentiment is overwhelmingly bullish.

Bear case: The stock is up 267.8% year to date to $407.72. The Wall Street consensus target is $281.58, roughly 30.9% below the current price, while our model’s base case target is $412.58, implying just 1.2% upside. With a P/E near 474 and a beta of 3.79, the margin of safety is thin.

Sea Limited: Held, Not Added, but the Setup Improved Bull case: Sea delivered Q1 2026 revenue of $7.10 billion, up 46.6% year over year, with Shopee GMV of $37.3 billion (up 30.2%) and Monee loans outstanding of $9.9 billion, up 71.3%. Analysts skew strongly positive, with a target price of $140.50, against a current price of $89.04. The forward P/E of 31 looks reasonable for this growth rate.

Bear case: Shares are down 30.6% year to date and 42.0% over one year, and Q1 EPS of $0.67 missed the $0.77 estimate by 13.0% as reinvestment compressed margins.

STMicroelectronics: Held, and the Story Has Re-Rated Bull case: The multi-year, multi-billion-dollar AWS engagement reframes STMicro as an AI infrastructure name, and CEO Jean-Marc Chery has guided data center revenue to above $500 million in 2026 and well above $1 billion in 2027. Shares are up 206.6% year to date to $79.91.

Bear case: The consensus analyst target of $64.36 sits below the current price, the trailing P/E is 490, and quarterly earnings growth was negative 33.3% year over year.

The Verdict for Retirement-Focused Investors Druckenmiller’s disclosed Q1 positioning is best read as a research signal for further diligence. Sea offers the cleanest risk/reward: a reasonable forward multiple, unanimous analyst support, and price well below its 52-week high. STMicro’s AWS story is compelling, but the recent rally has already priced in much of the optionality. Arm is the hardest to follow at current levels, where even bullish analysts model meaningful downside. These are research starting points worth deeper due diligence, not templates for portfolio action.

Apollo is limiting investor redemptions in its main retail-focused private credit fund after withdrawal requests rose to 17% during the second quarter.

The private markets giant said it will cap withdrawals at 5% of shares in the Apollo Debt Solutions vehicle, after investors rushed to pull out about $2.4 billion, or 16.8%, during the three-month period.

Why Apollo capped withdrawals"Taken together, we expect net outflows from ADS will be approximately $400 million for the second quarter of 2026 and year-to-date, representing 3% of NAV," Apollo said in a filing with the Securities and Exchange Commission published on Monday.

It highlighted a "notable regional split" in second-quarter withdrawal requests, with U.S. onshore clients looking to pull out about 4.3%, while redemptions from offshore investors jumped to 12.5%.

Apollo Global Management.

The move comes after the $26 billion fund — a non-traded business development company which offers wealthy retail investors exposure to higher-yielding private credit assets — said withdrawal requests in the previous quarter rose to more than 11%.

Why private credit funds are under pressureThe redemption spike once again spotlights the liquidity pressures that have engulfed global private markets this year.

So-called 'semi-liquid' private debt vehicles have been subject to a wave of redemption pressure this year, as investors look to pull their money amid growing anxieties over asset quality, and as funds struggle to reconcile the less-liquid nature of private assets and the retail wealth channel.

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Earlier this month, Blackstone said it had restricted investor withdrawals from its flagship $79 billion Blackstone Private Credit Fund, or BCRED, to 5%, after they surged to 10% during the second quarter.

Across the Atlantic, Switzerland's Partners Group recently warned it may curb redemptions in several of its private asset vehicles following a surge in exit requests.

"We're discovering in real time that you can't offer near‑daily liquidity on genuinely illiquid assets without eventually testing the plumbing, and 2026 is the year those structures get rewritten," said Sunaina Sinha Haldea, global head of private capital advisory at Raymond James.

"Redemption pressure in evergreen private credit isn't just a credit story, it's a structural one," Haldea told CNBC via email.

She warned that the 'wrap-it-for-retail-and-the-money-will-come' phase in private credit markets is over, adding that weaker evergreen private credit funds risk facing gates, outflows and lost shelf space, as fundraising consolidates around private markets managers with strong governance, liquidity controls and client education.

Danielle Poli, managing director, co-portfolio manager at Oaktree Capital, said institutional capital was reaffirming its commitment to private credit, in contrast to jitters within the retail wealth channel.

Poli said institutional investors were considering increasing their allocations to the space to take advantage of scarcer capital in the market, adding that the retail wealth component makes up less than a quarter of the private credit market.

"These are longer-term private instruments that give you an attractive yield if you hold them. That's the trade-off," she told CNBC's "Squawk Box Europe" on Tuesday.

Poli said she expected the market to see a degree of differentiation between private asset managers based on their lending discipline, loan terms and how they considered the impact of a different rate environment. "That's very healthy and natural," she added.

Correction: This article was updated to reflect that redemption requests had spiked to 17%. It was also reworded to clarify Apollo is not halting all redemption requests.

Burlington Stores Today

BURL

Burlington Stores

$341.34 +9.10 (+2.74%)

As of 11:11 AM Eastern

This is a fair market value price provided by Massive. Learn more.

52-Week Range$222.48▼

$351.85P/E Ratio35.09

Price Target$353.56

Frugal shoppers continue to spend, and Burlington Stores NYSE: BURL continues to benefit.

By selling branded clothing, footwear, accessories, and home merchandise at prices well below traditional retailers, Burlington is delivering exceptional sales, earnings, and store expansion as a standout off-price retailer. Investors have noticed, sending the stock price surging over the past year.

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But with higher valuation and rising expectations, the richly valued stock leaves little room for error. Investors looking to get in now need to balance the presence of cyclical risk and fierce competition with the prospects of a well-run company with proven results.

Burlington Delivers Another Strong QuarterSo far this year, the news remains positive. In fact, the company’s recent three-month results, reported in late May, were strong enough to lead to a higher full-year forecast.

With more than 1,200 off-price stores across the country, Burlington said total sales in its first fiscal quarter rose 14% to $2.85 billion, and comparable store sales, or stores that have been open for more than a year, increased 6%. Both were signs that customer traffic and the company’s pricing and selection strategies were working even with more demanding consumers.

Net income for the quarter came in at $115 million compared with $101 million in the year-ago period. Diluted earnings per share (EPS) rose to $1.79 from $1.58 a year earlier, while adjusted earnings came in at $128.9 million, or $2.01 per share, up 26%, and well above the company's own previous guidance of $1.60 to $1.75. It was the company's 14th consecutive quarter of double-digit earnings-per-share growth, the company said, signaling better operations beyond a single-quarter jump.

Indeed, the latest quarter continued a performance that was playing out last year. Burlington closed fiscal 2025 with total sales up 9%, comparable store sales up 2%, net income of $610 million, and an EPS of $9.51. In the fourth quarter of fiscal 2025 alone, sales rose 11%, comparable sales increased 4%, and earnings per share reached $4.84, up 20%.

Margins and Guidance Continue to ImproveBurlington's core business is buying branded goods when available, moving it quickly through its stores, and keeping prices under control. When the three steps work together, growing margins are key to converting sales into higher profits. Formerly known as the Burlington Coat Factory, the company has more recently shifted from e-commerce exposure to all-in-store experiences with some smaller-format store strategies.

The company showed that its strategy is working. Gross margin in the first quarter expanded to 44.1% from 43.8% a year earlier. The margin in the preceding three months was 80 basis points higher than the year before. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) in the first quarter rose more than 16% to $284 million.

Management's response to the first-quarter results reinforced these increases. With the first-quarter results, Burlington raised its full-year fiscal 2026 adjusted EPS guidance to a range of $11.45 to $11.80, up from levels set three months earlier. This fiscal year’s projection compares with an adjusted EPS of $10.17 last year.

A Premium Valuation Limits UpsideOverall MarketRank™83rd Percentile

Analyst RatingModerate Buy

Upside/Downside3.8% Upside

Short Interest LevelHealthy

Dividend StrengthN/A

News Sentiment0.76 Insider TradingSelling Shares

Proj. Earnings Growth15.37%

See Full Analysis

Investors have been noticing. The stock is up more than 16% this year and nearly 50% over the past year.

Its current price-to-earnings (P/E) ratio is above 34, with a trailing EPS of $9.73, meaning there’s little room for error as the rest of the year plays out.

Analyst sentiment remains positive, though the expected upside is limited.

Burlington carries a Moderate Buy consensus based on 15 buy ratings and five hold ratings, with an average price target of $353.56, a high target of $411, and a low target of $310.

With shares recently trading around $340, the consensus price amounts to little more than a 5% gain.

Competition and Economic Risks RemainRetail also carries risks of its own. Burlington competes with some formidable opponents. TJX Companies NYSE: TJX and Ross Stores NASDAQ: ROST, both with larger reach, more established buying organizations, and deeply ingrained customer habits.

Off-price retail requires ongoing competition for branded closeouts, inventory updates, and a balanced execution with thousands of daily decisions. While Burlington has been closing the gap with its larger peers, the margin for error is narrow.

The retail sector also contains macroeconomic risk. If inflation, wholesale costs, or a softening labor market begin to squeeze off-price traffic, even a well-run Burlington can feel pinched through smaller basket sizes, more markdown pressures, and more competition for value-oriented shoppers.

Patience May Be RewardedInvestors should recognize that Burlington is a capital appreciation story. It does not pay a dividend, and the return investors receive depends on earnings growth and the market's acceptance of a P/E value slightly above its two top competitors.

Burlington's first-quarter fiscal 2026 report did much to strengthen its execution success. But the stock is well-valued while the economy and competition remain ever-potent factors.

For investors who can accept cyclical risk and are looking to capture a core slice of the American consumer, patience and stock pullbacks could provide a welcome bargain for this off-price retailer.

Should You Invest $1,000 in Burlington Stores Right Now?Before you consider Burlington Stores, you'll want to hear this.

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, /PRNewswire/ -- Canadian Solar Inc. (the "Company" or "Canadian Solar") (NASDAQ: CSIQ) today announced the launch of its new TOPCon 3.0 high-power-density photovoltaic module, tailored for utility-scale power plants as well as commercial and industrial (C&I) PV systems. With a power output of up to 670 Wp and a conversion efficiency of up to 24.8%, the new product is scheduled for global mass shipment starting in August 2026.

The TOPCon 3.0 high-power-density module delivers higher energy yield and lower Levelized Cost of Electricity (LCOE), improving project economics and long-term returns.

Higher power density: With a power output of up to 670 Wp, the module features a multi-cut technology based on large-format rectangular cells and enhanced light utilization, while maintaining a standard module size of 2382 × 1134 × 30 mm for optimum logistics and easy system integration.

Higher bifaciality: Cell poly-patterned technology and optimized back-side design enable PV module bifaciality of up to 90%, delivering an additional 0.4%–0.5% system-level energy gain.

Lower temperature coefficient: Advanced passivation technologies on cell edge and surface lower the PV module temperature coefficient to -0.26%/°C, improving PV system performance in high-temperature environments.

Together, these advanced cell and module technologies deliver high reliability and reduce degradation to ≤1% in the first year and 0.35% annually thereafter, ensuring over 88.85% output after 30 years.

For demanding conditions such as glare-sensitive, high-load, corrosive, and dusty environments, the TOPCon 3.0 module portfolio can be equipped with anti-glare glass, IoT (Internet of Things)-enabled junction box, and steel, composite, or anti-dust frames, enhancing PV system safety and visibility.

Dr. Shawn Qu, Executive Chairman and Chief Technology Officer of Canadian Solar, said, "With the launch of our TOPCon 3.0 module, we continue to advance high-efficiency PV technology, delivering up to 1.6% higher energy yield and up to 1.4% lower LCOE, translating into stronger lifecycle value and more predictable long-term returns for our global partners."

The TOPCon 3.0 high-power-density module will be showcased at Intersolar Europe from June 23 to 25 in Munich, Germany. Visit Canadian Solar at booth B2.250 to explore the new generation of high-efficiency PV technology.

About Canadian Solar Inc.
Canadian Solar is one of the world's largest solar technology and renewable energy companies. Founded in 2001 and headquartered in Kitchener, Ontario, the Company is a leading manufacturer of solar photovoltaic modules; provider of solar energy and battery energy storage solutions; and developer, owner, and operator of utility-scale solar power and battery energy storage projects. Over the past 25 years, Canadian Solar has successfully delivered nearly 177 GW of premium-quality, solar photovoltaic modules to customers across the world. Through its subsidiary e-STORAGE, Canadian Solar had shipped over 20 GWh of battery energy storage solutions to global markets as of March 31, 2026, and had a $3.5 billion contracted backlog as of May 8, 2026. Since entering the project development business in 2010, Canadian Solar has developed, built, and connected approximately 12.2 GWp of solar power projects and 6.4 GWh of battery energy storage projects globally. Its geographically diversified project development pipeline includes 24 GWp of solar and 81 GWh of battery energy storage capacity in various stages of development. Canadian Solar is one of the most bankable companies in the solar and renewable energy industry, having been publicly listed on the NASDAQ since 2006. For additional information about the Company, follow Canadian Solar on LinkedIn or visit www.canadiansolar.com.

Safe Harbor/Forward-Looking Statements

Certain statements in this press release, including those regarding the Company's expected future shipment volumes, revenues, gross margins, and project sales are forward-looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially. These statements are made under the "Safe Harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by such terms as "may", "will", "expect", "anticipate", "future", "ongoing", "continue", "intend", "plan", "potential", "prospect", "guidance", "believe", "estimate", "is/are likely to" or similar expressions, the negative of these terms, or other comparable terminology. These forward-looking statements include, among other things, our expectations regarding global electricity demand and the adoption of solar and battery energy storage technologies; our growth strategies, future business performance, and financial condition; our transition to a long-term owner and operator of clean energy assets and expansion of project pipelines; our ability to monetize project portfolios, manage supply chain fluctuations, and respond to economic factors such as inflation and interest rates; our outlook on government incentives, trade measures, regulatory developments, and geopolitical risks; our expectations for project timelines, costs, and returns; competitive dynamics in solar and storage markets; our ability to execute supply chain, manufacturing, and operational initiatives; access to capital, debt obligations, and covenant compliance; relationships with key suppliers and customers; technological advancement and product quality; and risks related to intellectual property, litigation, and compliance with environmental and sustainability regulations. Other risks were described in the Company's filings with the Securities and Exchange Commission, including its annual report on Form 20-F filed on April 10, 2026. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, level of activity, performance, or achievements. Investors should not place undue reliance on these forward-looking statements. All information provided in this press release is as of today's date, unless otherwise stated, and Canadian Solar undertakes no duty to update such information, except as required under applicable law.

CANADIAN SOLAR INC. INVESTOR RELATIONS CONTACT
Wina Huang
Investor Relations
Canadian Solar Inc.
[email protected] 

SOURCE Canadian Solar Inc.

HubSpot (HUBS +2.34%) was one of the many software stocks that fell victim to the SaaSpocalypse narrative earlier this year. Its stock is down by almost 70% so far in 2026, but that doesn't mean the company has lost market share. In fact, it's continuing to deliver impressive financial results, so the current fire sale on its stock likely won't last long.

Image source: Getty Images.

HubSpot generates recurring revenue from a wide range of businesses HubSpot provides its clients with a customer relationship management (CRM) platform, and it has been tapping into artificial intelligence to expand its offerings. That last detail is important in the context of its recent decline: The premise of the SaaSpocalypse that spooked investors was the theory that people and companies would be able to use AI to create inexpensive replacements for popular subscription software offerings, pulling the rug out from under the software-as-a-service business model.

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Customers have to pay subscription fees to continue using HubSpot, but once a business starts using one CRM platform, it's a difficult and costly matter to switch to another. HubSpot booked $881.0 million in revenue in Q1, and $862.3 million of that came from subscriptions. Both figures were up by 23% year over year.

That revenue growth also came with an expanding customer base. HubSpot finished the quarter with just under 300,000 subscribers, which was up by 16% year over year.

AI momentum is strengthening for HubSpot HubSpot has been in the CRM business since its founding in 2006. It has gone through several economic cycles over the past two decades, and capitalized on several opportunities; artificial intelligence will be the next one. As CEO Yamini Rangan noted in the company's Q1 press release: "The AI innovations we launched at Spring Spotlight, including Customer Agent, Prospecting Agent, and Data Agent, are delivering outcomes for customers and will strengthen our AI momentum."

That doesn't sound like a company that is afraid that artificial intelligence will displace what it offers. HubSpot is actively using this technology to enhance its products and attract new customers. Adding AI functions could also improve HubSpot's ability to raise prices or get its customers to upgrade their plans. Businesses have already been spending more on HubSpot on average each year; in Q1, the company reported a 6% year-over-year increase in its average subscription revenue per customer.

HubSpot has even reframed itself as "the agentic customer platform for scaling businesses." The agentic piece is a new angle that aims to position it as a participant in the AI boom.

Management anticipates that its revenue will increase by 18% in 2026. That would be a deceleration relative to its Q1 growth, but still a respectable increase. HubSpot could also beat its guidance in future quarters and raise its full-year outlook; the AI momentum Rangan mentioned suggests this is possible.

It would be harder to feel optimistic about the stock if HubSpot were still trading above $500 per share, as it was at the start of the year. However, its drop to under $200 per share gives it a valuation that's more attractive based on the company's fundamentals.

The company logo of the Space systems specialist OHB in Oberpfaffenhofen near Munich, southern Germany, April 18, 2016. REUTERS/Michael Dalder Purchase Licensing Rights, opens new tab

June 22 (Reuters) - German satellite maker OHB (OHBG.DE), opens new tab said on Monday it was launching ​a share sale with KKR (KKR.N), opens new tab to bring in new investors and ‌seek a higher valuation as interest in space stocks rises after Elon Musk's blockbuster SpaceX listing.

The combined offering would more than triple OHB's free float and imply a ​market value of 6.3 billion euros, positioning the company to ​capitalise on a surge in investor appetite for the ⁠sector.

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OHB said it will issue up to 1.7 million new shares ​at 300 euros each, raising up to 510.7 million euros. KKR-owned ​Orchid Lux HoldCo will sell up to 1.23 million existing shares, according to a bookrunner for the deal.

The global investment firm will trim its stake to ​around 20% from 28.6% and net up to 368 million ​euros, more than it paid for the entire stake in 2023.

The total deal size ‌includes ⁠a greenshoe option and would increase OHB's free float to 19.2% from 5.7%, the bookrunner said.

The offer price was a 26% discount to OHB's closing price of 405.5 euros.

The Fuchs family, OHB's majority ​shareholder, waived its ​subscription rights ⁠but will not sell any shares.

SpaceX (SPCX.O), opens new tab surged past $2 trillion in its record-setting initial public offering on June 12, ​lifting investor appetite for space stocks. "Everyone is aiming for higher ​valuations ⁠after the SpaceX IPO," CEO Marco Fuchs told Reuters earlier this month.

Shares from KKR and most of the new stock will be placed ⁠with institutional ​investors through Wednesday, while existing shareholders ​can exercise subscription rights from June 25 to July 8.

($1 = 0.8728 euros)

Reporting by Gianluca ​Lo Nostro and Alexander Hübner; Editing by Joe Bavier and Matt Scuffham

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

Key Takeaways ARES is expanding across credit, real assets and secondaries, with a goal of $750B AUM by 2028.KKR is scaling across private equity, credit and insurance, targeting at least $1T AUM by 2030.ARES and KKR have raised earnings estimates, but rising expenses remain a near-term headwind for both. Ares Management Corporation (ARES - Free Report) and KKR & Co. Inc. (KKR - Free Report) are prominent alternative asset managers with diversified investment platforms across private equity, credit and real assets. ARES primarily focuses on alternative investment solutions spanning credit, private equity, real assets, secondaries and insurance-related strategies. In contrast, KKR operates a broader model that integrates alternative asset management with capital markets and insurance solutions. Both firms benefit from strong institutional relationships, wide-ranging investment capabilities and expanding sources of perpetual capital. However, differences in business mix, growth strategies and revenue drivers could shape their relative performance going forward.

The asset-management industry is navigating a shifting operating backdrop. Rising investments in technology and artificial intelligence are increasing cost pressures, while the rapid growth of ETFs, especially actively managed products, is intensifying competition. Additionally, concerns around private credit markets may weigh on near-term flows into select alternative investment strategies. Still, favorable market conditions and steady inflows continue to support AUM growth across the industry.

Against this backdrop, investors naturally ask: Which firm, ARES or KKR, is better positioned for long-term growth? To answer that, we need to examine their fundamentals more closely.

The Case for ARESAres Management has been strengthening its platform through strategic acquisitions and partnerships. In February 2026, the company acquired BlueCove Limited to strengthen its credit platform and partnered with Slate Asset Management to acquire a Polish retail real estate portfolio, expanding its European footprint. Earlier, the company acquired GCP International in 2025 to broaden its real assets platform. Together, these initiatives have diversified Ares Management's investment offerings, expanded its global footprint and strengthened its position across key alternative asset classes, supporting long-term growth prospects.

Supported by these strategic acquisitions and partnerships, Ares Management's AUM has witnessed consistent growth over the years. Strong fundraising activity through the wealth management channel, growing insurance-related assets, and continued demand for private credit, real assets and secondaries strategies have supported its AUM growth. Further, the company's expanding perpetual capital base and broad distribution network are expected to drive fundraising and deployment activity. With management targeting AUM of more than $750 billion by 2028, ARES appears well positioned to sustain growth over the long term.

Organic growth remains a key strength for Ares Management. Higher management and performance fees from a growing fee-paying asset base have continued to support revenue growth. The acquisition of GCP International has further enhanced the company's real assets and digital infrastructure capabilities, adding incremental management fee revenues. Management continues to target annual organic growth of 16-20% or more in fee-related earnings and more than 20% growth in realized income over the medium term. Going forward, continued expansion in private credit and real assets is expected to support revenue growth and earnings generation.

However, ARES' expense base has been rising due to higher compensation and benefits costs, ongoing investments in fundraising and platform expansion, and expenses associated with integrating acquired businesses. These factors are likely to keep costs elevated and could pressure near-term profitability.

The Case for KKRKKR has been expanding its platform through strategic acquisitions to enhance its investment capabilities and drive asset growth. In May 2026, the company acquired Arctos Partners, an investment firm managing approximately $16 billion in AUM, expanding its capabilities across sports investing, GP solutions and secondaries. Earlier, in July 2025, KKR acquired a majority stake in HealthCare Royalty Partners, adding nearly $3 billion to its AUM and expanding its healthcare-focused investment capabilities. These initiatives have supported KKR's efforts to scale its alternative investment platform, diversify revenue streams and accelerate AUM growth, positioning the company well for long-term expansion.

Building on these initiatives, KKR's AUM balance has grown steadily over the years, reflecting the strength of its diversified investment platform. The company's expanding presence across private equity, credit, infrastructure, real estate and insurance has supported AUM growth, while fundraising and capital deployment activity have remained healthy. Further, a growing perpetual capital base and continued expansion of investment capabilities are expected to support future asset growth. The Arctos acquisition is also expected to increase KKR's exposure to perpetual and long-dated capital and strengthen its wealth and institutional distribution capabilities. Management's goal of reaching at least $1 trillion in AUM by 2030 further underscores confidence in the company's long-term growth prospects.

Organic growth also remains a key strength for KKR. The company continues to benefit from the expansion of its traditional private equity and third-party businesses while adding capabilities across infrastructure, real estate, growth and core investing strategies. These efforts have increased deal activity and broadened KKR's revenue base over time. Continued expansion across these investment platforms is expected to support revenue growth and earnings generation over the long term.

Nevertheless, an elevated expense base remains a headwind for KKR. Higher commission, reinsurance and employee compensation expenses have increased costs, while continued fundraising activity is expected to drive higher placement fees. This could pressure the company's near-term earnings growth.

How Do Earnings Estimates Compare for ARES & KKR?The Zacks Consensus Estimate for ARES’ 2026 and 2027 earnings implies a year-over-year rise of 27.3% and 24.4%, respectively. Earnings estimates for 2026 have been revised upward, while for 2027, it has remained unchanged over the past month.

ARES Estimates Revision Trend
Image Source: Zacks Investment Research

The Zacks Consensus Estimate for KKR’s 2026 and 2027 earnings implies a year-over-year rise of 24.6% and 23.5%, respectively. Earnings estimates for both years have been revised upward over the past month.

KKR Estimates Revision Trend
Image Source: Zacks Investment Research

ARES & KKR: Price Performance, Valuations & Other ComparisonsOver the past three months, ARES and KKR shares gained 20.8% and 6.8%, respectively, compared with the industry’s growth of 10.3%.

Price Performance Comparison
Image Source: Zacks Investment Research

From a valuation standpoint, ARES is currently trading at a forward 12-month price-to-earnings (P/E) multiple of 19.14X, while KKR is currently trading at a forward 12-month P/E multiple of 15.7X. Both are trading at a premium compared with the industry average of 13.66X; however, KKR stock is cheaper than ARES.

Price-to-Earnings F12M
Image Source: Zacks Investment Research

Meanwhile, both Ares Management and KKR & Co reward their shareholders handsomely. In February 2026, ARES raised its quarterly dividend by 20.5% to $1.35 per share. It has a dividend yield of 4.2%. Similarly, KKR raised its annualized dividend by 5.4% to 78 cents per share in May 2026. It has a dividend yield of 0.8%.

Dividend Yield
Image Source: Zacks Investment Research

ARES or KKR: Which Stock Offers More Value?Ares Management and KKR & Co. both benefit from diversified alternative investment platforms, growing perpetual capital bases and healthy fundraising activity, supporting long-term AUM growth. Both companies are also expanding through acquisitions to strengthen their investment capabilities and broaden their market reach.

However, ARES appears to have a slight edge, supported by stronger earnings growth expectations and a significantly higher dividend yield. While KKR trades at a lower valuation and offers solid growth prospects, ARES provides a more compelling combination of growth and income.

Therefore, despite its premium valuation, Ares Management appears better positioned to deliver attractive long-term shareholder returns, making it the more favorable choice for investors seeking both growth and income.

ARES and KKR currently carry a Zacks Rank #3 (Hold) each. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

-

BlueBirds 11, 12, and 13 will launch into low Earth orbit aboard a Falcon 9 rocket from Cape Canaveral, Florida

The mission continues the momentum established by the successful June 2026 launch of BlueBirds 8, 9, and 10, which are already operating in orbit

MIDLAND, Texas--(BUSINESS WIRE)--AST SpaceMobile, Inc. (“AST SpaceMobile”) (NASDAQ: ASTS), the company building the first and only space-based cellular broadband network accessible directly by everyday smartphones, designed for both commercial and government applications, today announced that BlueBird satellites 11, 12, and 13 are targeted to launch from Cape Canaveral, Florida in the first half of August.

The mission will carry the next batch of next-generation satellites to low Earth orbit, further expanding the company's space-based cellular broadband network designed to provide voice, data, video, directly to standard, unmodified smartphones everywhere.

“With each successful launch, we move closer to our goal of making space-based cellular broadband accessible wherever people live, work, and travel," said Scott Wisniewski, President of AST SpaceMobile. “BlueBirds 11, 12, and 13 build on the momentum of our recent constellation and represent another important milestone as we prepare for commercial service. The progression from BlueBirds 8, 9, and 10 to this next mission, together with the continued production and assembly of satellites through BlueBird 37, reflects the strength of our manufacturing capabilities and our ability to steadily expand the network while we work to connect the unconnected and under-connected around the world."

BlueBirds 11, 12, and 13 feature commercial communications arrays measuring approximately 2,400 square feet, matching the scale of the BlueBird satellites currently operating in orbit. These next-generation satellites are expected to deliver nearly double the peak data speeds of AST SpaceMobile's initial Block 1 BlueBird satellites, which recently achieved peak download speeds of 98.9 Mbps directly to standard smartphones.

The satellites leverage AST SpaceMobile's next-generation stackable satellite architecture, including advanced composite carbon structures designed to support efficient multi-satellite launches and accelerated constellation deployment. Combined with the company's multi-provider launch strategy, the architecture is designed to provide flexibility in deploying AST SpaceMobile's global constellation.

AST SpaceMobile has agreements with nearly 60 mobile network operators globally with over 3 billion subscribers combined and strategic partnerships with AT&T, Verizon, Vodafone, Rakuten, Google, Bell, Telus, stc Group, and American Tower.

The exact timing of orbital launches is subject to change based on a number of factors, including launch readiness of the launch provider, weather conditions, and other factors, many of which are beyond the company’s control.

About AST SpaceMobile

AST SpaceMobile is building the first and only global cellular broadband network in space to operate directly with standard, unmodified mobile devices based on our extensive IP and patent portfolio, and designed for both commercial and government applications. Our engineers and space scientists are on a mission to enable 4G and 5G space-based cellular broadband to every device, everywhere, for today’s nearly 6 billion mobile subscribers globally. For more information, follow AST SpaceMobile on YouTube, X (Formerly Twitter), LinkedIn and Facebook. Watch this video for an overview of the SpaceMobile mission.

Forward-Looking Statements

This communication contains “forward-looking statements” that are not historical facts, and involve risks and uncertainties that could cause actual results of AST SpaceMobile to differ materially from those expected and projected. These forward-looking statements can be identified by the use of forward-looking terminology, including the words “believes,” “estimates,” “anticipates,” “expects,” “intends,” “plans,” “may,” “will,” “would,” “potential,” “projects,” “predicts,” “continue,” or “should,” or, in each case, their negative or other variations or comparable terminology. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside AST SpaceMobile’s control and are difficult to predict.

Factors that could cause such differences include, but are not limited to: (i) expectations regarding AST SpaceMobile’s strategies and future financial performance, including AST’s future business plans or objectives, expected functionality of the SpaceMobile Service, anticipated timing of the launch of the Block 2 BlueBird satellites, anticipated demand and acceptance of mobile satellite services, prospective performance and commercial opportunities and competitors, the timing of obtaining regulatory approvals, ability to finance its research and development activities, commercial partnership acquisition and retention, products and services, pricing, marketing plans, operating expenses, market trends, revenues, liquidity, cash flows and uses of cash, capital expenditures, and AST SpaceMobile’s ability to invest in growth initiatives; (ii) the negotiation of definitive agreements with mobile network operators relating to the SpaceMobile Service that would supersede preliminary agreements and memoranda of understanding and the ability to enter into commercial agreements with other parties or government entities; (iii) the ability of AST SpaceMobile to grow and manage growth profitably and retain its key employees and AST SpaceMobile’s responses to actions of its competitors and its ability to effectively compete; (iv) changes in applicable laws or regulations; (v) the possibility that AST SpaceMobile may be adversely affected by other economic, business, and/or competitive factors; (vi) the outcome of any legal proceedings that may be instituted against AST SpaceMobile; and (vii) other risks and uncertainties indicated in the Company’s filings with the Securities and Exchange Commission (SEC), including those in the Risk Factors section of AST SpaceMobile’s Form 10-K filed with the SEC on March 2, 2026, its Form 10-Q for the fiscal quarter ended March 31, 2026 filed with the SEC on May 11, 2026 and the future reports that it may file from time to time with the SEC.

AST SpaceMobile cautions that the foregoing list of factors is not exclusive. AST SpaceMobile cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. For information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please refer to the Risk Factors in AST SpaceMobile’s Form 10-K filed with the SEC on March 2, 2026, its Form 10-Q for the fiscal quarter ended March 31, 2026 filed with the SEC on May 11, 2026 and the future reports that it may file from time to time with the SEC. AST SpaceMobile’s securities filings can be accessed on the EDGAR section of the SEC’s website at www.sec.gov. Except as expressly required by applicable securities law, AST SpaceMobile disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

More News From AST SpaceMobile, Inc.

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Nu Holdings (NU +0.24%) is one of the world's fastest-growing fintech companies. It owns NuBank, the largest digital-only bank in Latin America. By streamlining its digital services and offering a fee-free credit card, it expanded much faster than its brick-and-mortar competitors. It also expanded its ecosystem with more loans, e-commerce services, and crypto trading tools.

From 2021 to 2025, Nu's year-end customer base grew from 54 million to 131 million, its activity rate (active customers divided by total customers) expanded from 76% to 83%, and its monthly average revenue per customer (ARPAC) more than tripled from $4.50 to $15. Even as it added customers at that blistering pace, its average cost per active customer held steady.

Image source: Getty Images

In the first quarter of 2026, Nu's total customers rose to 135 million, its activity rate held steady at 83%, and its monthly average revenue per customer grew to $16.

Those growth rates were incredible, yet Nu's stock has still declined about 25% this year and trades at just 12 times next year's earnings. Is it an undervalued growth play in this frothy market?

Why did Nu's stock decline? From 2021 to 2025, Nu's revenue grew at a 75% CAGR. It turned profitable in 2023, and its EPS nearly doubled in 2024 and rose 45% in 2025. From 2025 to 2028, analysts expect its revenue and EPS to grow at CAGRs of 31% and 35%, respectively.

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Those growth rates are impressive, but three issues are compressing its valuations. First, it's expanding more aggressively into Mexico and Colombia to reduce its dependence on its core Brazilian market.

That expansion increased its credit risks, since both markets require higher funding costs and credit loss allowances than Brazil. Nu's expansion of its lower-margin secured lending and payroll-backed loan businesses exacerbated that pressure.

Second, Nu earns most of its revenue in Brazilian Reais, Mexican Pesos, and Colombian Pesos but reports its earnings in U.S. dollars. As a result, it faces persistent headwinds from a strong U.S. dollar -- which will only become stronger if the Fed raises its rates this year. Lastly, the market still values Nu like a conventional bank rather than a high-growth fintech company.

Is Nu's stock a screaming bargain? I believe Nu's stock is a bargain at these levels. It's in the process of securing full bank charters in Mexico and a conditional approval in the U.S. to reduce its funding costs and expand its reach. It also recently launched a new $1.0 billion buyback program.

It won't bounce back anytime soon, but it could attract a lot more attention once its Mexican and Colombian markets mature, the dollar weakens, and investors value it as a growth play again.

Domino's Pizza (DPZ +3.21%) has not delivered for investors in 2026, but it is flashing a signal that long-term investors should take note of.

The world's largest pizza chain has been struggling over the past few years. This year, the stock price has plummeted 25% year to date as of June 19 and is trading at $312 per share, which is close to a 52-week low.

But even more notable is its valuation. Domino's stock is trading at 17 times earnings and 16 times forward earnings. That is not only a 52-week low valuation but also the lowest valuation for Domino's stock in more than 10 years.

The last time the price-to-earnings (P/E) ratio was this low was in 2012, some 14 years ago. Does this mean that Domino's stock is a buy?

Image source: Getty Images.

Domino's stock is as cheap as it's been in years Domino's stock really tanked in late April after the pizza chain released first-quarter earnings that missed revenue and earnings estimates. Overall, global sales were up about 3.5% year over year. U.S. sales were up 3%, with same-store U.S. sales increasing 1%. The miss was mainly due to lower international sales, as international same-store sales were down 0.4%.

Also, Domino's lowered its U.S. same-store growth guidance for the fiscal year from 3% to a more nebulous low-single-digits range -- which could be 3%, but it sounds worse. It cited macroeconomic pressures and challenges. Overall global sales are targeted for mid-single digits.

Domino's has been investing heavily in its website and app to increase its digital sales, including a new, more intuitive app. Last year, online orders accounted for 85% of all sales in the U.S.

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It has also expanded its relationship with third-party delivery services, adding DoorDash as a delivery provider, along with Uber Eats. The third-party delivery services expand Domino's market and result in higher margins, as third-party orders are, on average, higher due to a premium placed on menu items ordered through third-party apps.

Also, in Q1, Domino's increased its gross margin by 60 basis points year over year to 40.4% due to strong expense management and lower costs of sales. Further, CFO Sandeep Reddy said on the earnings call that the operating margin will continue to expand this year.

Also worth noting is that a challenging economic environment could lead more budget-conscious families to seek cheaper options to feed their families.

Domino's stock is a compelling option worth considering given its decade-low valuation, its expense management, and its digital and third-party delivery strategies. Wall Street analysts see the stock as a buy, with a median price target of $400 per share, which would suggest 28% upside.

Dave Kovaleski has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Domino's Pizza, DoorDash, and Uber Technologies. The Motley Fool has a disclosure policy.

Tencent on Monday said it is testing an AI assistant within WeChat in China as the tech giant looks to step up efforts to challenge rivals in the country's competitive artificial intelligence market.

Xiaowei, "a native AI assistant," is being tested "on a small scale" in Weixin, the Chinese version of WeChat, Tencent said in a statement translated by CNBC.

Users can interact with Xiaowei with text or voice, communicate with friends and launch "mini-programs," Tencent added. Mini-programs are apps that run inside of WeChat.

Tencent executives have been mulling further integration of AI into WeChat since last year, with investors watching closely to see if this can be a new revenue stream and a way to monetize AI.

watch now

WeChat and Weixin have more than 1.4 billion monthly active users combined, with the majority in China. It is an indispensable part of daily life in China, where people use the app to message friends, make payments, book restaurants and much more.

By integrating an AI tool into an app with a huge user base, Tencent has an opportunity to capture a large number of them for its services.

"Putting an assistant inside Weixin is the first time Tencent uses the advantage it has held all along, and that matters a lot," Howard Yu, the LEGO professor of management and innovation at IMD, told CNBC by email.

"A standalone chatbot gives you an answer. An assistant wired into Weixin completes the task. And it's this second advantage that no rival can copy," Yu added.

The company did not give further details about the capabilities Xiaowei would have or what AI models it is based on.

Tech companies are talking up the potential of so-called AI agents, which they see as digital assistants that are able to carry out complex tasks on a user's behalf across different apps and services.

The new AI assistant is part of a bigger move from Tencent to challenge rivals like Alibaba, DeepSeek and Zhipu in China, which has become an incredibly competitive AI market. This year, Tencent poached an OpenAI researcher to become its chief AI scientist.

Tencent also develops its own family of models under the brand name Hunyuan.

Sweetgreen Today

SG

Sweetgreen

$8.71 +0.42 (+5.04%)

As of 11:07 AM Eastern

This is a fair market value price provided by Massive. Learn more.

52-Week Range$4.49▼

$16.70P/E Ratio72.26

Price Target$8.04

Shares of Sweetgreen Inc. NYSE: SG have surged 60% over the past three months, rebounding from a steep selloff that began in late 2024 as concerns about slowing consumer demand mounted. The rally has some questioning whether the company's efforts to revive the business are finally gaining traction or if the stock is simply rebounding from deeply oversold levels.

Sweetgreen's core business remains unprofitable, and the company has missed Wall Street expectations more often than not since going public, including the most recent quarter, reported on May 8.

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However, encouraging comments about its turnaround efforts seem to have sparked fresh optimism.

Sweetgreen Shares Have Surged Since Hitting March LowThe fast-casual chain, known for its salads and other healthy menu items, went public in late 2021, and its shares initially soared. However, the gains were short-lived, and the stock spent much of the next few years under pressure as the company struggled to turn a profit.

In 2024, things started to look up. The stock went from trading around $10 in January to above $44 by November. But as concerns about slowing consumer demand emerged, those gains quickly unraveled. By March 2026, the stock had plunged to an all-time low of $4.49. Since then, shares have rebounded sharply, surging nearly 100%.

The catalyst doesn't appear to be the company's most recent earnings report. Sweetgreen posted a first-quarter loss of 27 cents per share, wider than the 21-cent-per-share loss reported a year earlier and Wall Street's estimate for a 23-cent loss. Revenue of roughly $162 million fell nearly 3% year over year and missed expectations by about $2 million. The results marked the company's fourth consecutive earnings and revenue miss and its third straight quarter of declining revenue.

Turnaround Plan Is Showing Signs of TractionDespite the disappointing earnings report, the company's comments on its Sweetgrowth Transformation Plan, launched in November 2025 to help turn the business around, appeared to spark optimism among investors.

During the earnings call, co-founder and Chief Executive Jonathan Neman said, "We are beginning to see signs that the actions we are putting in place are gaining traction. We are seeing improvement in execution across our restaurants, greater consistency in the guest experience, and stronger alignment across our teams."

He added, "We saw improvement as the quarter progressed with a further step up in April."

Neman also expressed enthusiasm about the recent addition of wraps to the menu, which he described as Sweetgreen's "most significant menu expansion in several years." The company expects wraps to help drive traffic while making the brand more accessible because of its lower price point.

Sentiment Has Improved, But Wall Street Remains CautiousInvestors appeared encouraged by the company's comments about improving trends. In the weeks following the report, five analysts raised their price targets on the stock, while two upgraded their ratings.

Even with the recent upgrades, Wall Street remains somewhat cautious. The consensus rating on Sweetgreen is Hold, based on 12 Hold ratings, four Buys, and three Sells. The majority of analysts aren't anticipating upside over the next year. The average 12-month price target of just above $8 is roughly 5% below the current share price. Price targets range from a low of $4.50 to a high of $15.

There are other indicators that suggest sentiment may be improving as well. The number of shares sold short has fallen from roughly 25 million, or nearly 27% of float, at the end of March to less than 20 million, or roughly 20% of float, as of the most recent reporting period at the end of May. While the stock remains heavily shorted, some bearish investors appear to be backing away from the name.

Insiders also appear to be expressing confidence in the company. Over the past three months, Sweetgreen insiders purchased roughly $3.4 million worth of company stock. No insider sales were reported.

Despite Recent Rally, Stock Remains Well Below HighsEven after the recent rally, Sweetgreen shares are still trading around $9, well below their July 52-week high of $16.70 and far below the more than $44 level reached in November 2024.

The stock's steep decline has left Sweetgreen trading at a discount to several peers in the fast-casual restaurant sector, which could help explain the renewed interest in the shares.

On a price-to-sales basis, Sweetgreen stock trades at less than 1.6X sales, compared with roughly 8.3X for CAVA Group Inc. NYSE: CAVA, 3.4X for Chipotle Mexican Grill, Inc. NYSE: CMG, and 6.1X for Wingstop Inc. NASDAQ: WING. Shake Shack Inc. NYSE: SHAK, which plummeted after reporting disappointing Q1 results, is the closest comparison, trading at 1.7X sales.

Sweetgreen's rebound likely began as investors saw value in a stock that had been heavily sold off. More recently, however, signs of progress in the company's turnaround efforts appear to have provided additional support for the rally.

Sweetgreen, Inc. (SG) Price Chart for Wednesday, June, 24, 2026

While the company's financial results still leave plenty of room for improvement, investors seem increasingly focused on what comes next. The second-quarter earnings report in August should provide a clearer indication of whether the recent improvement in traffic trends continued and whether Sweetgreen is beginning to translate those gains into stronger financial performance.

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Key Takeaways POWW narrowed its continuing operations loss as Q4 revenues rose and operating expenses fell sharply.Outdoor Holding says GunBroker gains include platform upgrades, MasterFFL revenues and new AI tools.POWW ended fiscal 2026 with $68.1M in cash and plans disciplined buybacks and platform investment. Outdoor Holding Company (POWW - Free Report) used its fourth-quarter call to argue that fiscal 2026 marked a reset year, with lower costs, stronger cash generation and a cleaner legal backdrop reshaping the GunBroker.com business.

Management’s message centered less on the quarter’s reported loss and more on the earnings power of a leaner marketplace model as platform upgrades, FFL-related services and AI tools move into fiscal 2027.

POWW Banks on a Leaner Cost BaseChairman and CEO Steven Urvan framed the quarter as proof that the company’s post-divestiture model can produce stronger profitability even in a cautious consumer environment. He said adjusted EBITDA rose sequentially through fiscal 2026 and that the fourth-quarter annualized run rate exceeded the $25 million target he set last August.

That argument rested heavily on expense control. The company reported a fourth-quarter loss of $0.03 per share, wider than the estimate of a loss of $0.02, delivering a negative surprise of 50%. Fourth-quarter revenues rose 10.1% to $13.9 million, which beat the consensus mark of $12.7 million by 9.4%. Meanwhile, total operating expenses fell to $15.1 million from $38 million a year earlier.

Chief financial officer Paul Kasowski added that fiscal 2026 adjusted EBITDA reached $22.3 million, up from $15.3 million in fiscal 2025, reflecting lower SG&A, lower legal expense and lower bad debt expense.

Outdoor Holding Pushes Platform UpgradesManagement tied much of its forward narrative to improving GunBroker’s marketplace economics rather than chasing broad expansion. Urvan and Kasowski pointed to better search and filtering, stronger seller analytics and promotional tools, and refined buyer personalization across the platform.

A key operational step was the integration with MasterFFL, which management said streamlines transfers for products subject to federal firearms license rules. Kasowski said that the effort moves from a cost center in earlier quarters to a revenue source in fiscal 2027, though the new revenue stream will carry lower profitability than the marketplace’s legacy margin profile.

The company is also leaning harder into AI. Urvan said an AI-powered listing tool launched in March to standardize descriptions and improve conversion, while an AI-driven virtual customer service offering is expected within about a month of the call.

POWW Sees Share Gains in FirearmsManagement used demand commentary to highlight market-share gains rather than broad market strength. In prepared remarks, Urvan said firearm unit sales increased more than 8.7% in the quarter, ahead of the 1.6% rise in adjusted NICS checks, while the company’s adjusted NICS share improved by 40 basis points.

Kasowski said fourth-quarter GMV climbed to $229 million, up 11.8% from a year earlier and 6.2% from the prior quarter, with firearms driving most of the increase. He also said sales growth in pistols and rifles supported results, though a greater mix of firearms modestly pressured the take rate to 6.06% from 6.15%.

In Q&A, Urvan told a ROTH Capital analyst that demand in the marketplace has remained better this year and that the company continues to outperform the market by making the buying and selling experience more seamless. He avoided previewing first-quarter numbers but sounded confident that share gains are continuing.

Outdoor Holding Clears Legacy IssuesAnother major theme was balance sheet flexibility after working through legacy matters. The company ended fiscal 2026 with $68.1 million in cash and cash equivalents, up sharply from $30.2 million a year earlier, even after a $4.4 million DCP settlement and more than $1 million of share repurchases in the fourth quarter.

Urvan said the company has now resolved most inherited litigation matters, leaving the Arizona class action and shareholder derivative litigation as the main open items. He told analysts that indemnification costs tied to former officers could remain uneven, but said management does not see more large settlements like the DCP payment on the horizon.

That cleanup matters because management wants greater freedom in capital allocation. Urvan said the company expects to keep buying back stock in a disciplined way while selectively investing in platform features that can lift traffic, transactions and revenue.

POWW Maps Out Fiscal 2027 PrioritiesThe fiscal 2027 agenda came through clearly in both the release and the call. Management identified premium seller offerings, pricing and promotional tools, data analytics, universal payments and broader buyer engagement as the main operating priorities for the year ahead.

In Q&A with Kanen Wealth Management, Urvan added more detail on potential growth levers. He said MasterFFL is now generating revenues, advertising remains underdeveloped compared with prior years, and universal payments could meaningfully reduce friction for customers who still rely on money orders rather than card transactions.

The tone was notably more assertive when management discussed scalability. Urvan and Kasowski argued that the marketplace’s operating base is now much more fixed, which means incremental revenues should convert into higher profitability more efficiently than in prior periods.

Outdoor Holding Leaves a Sharper MessageTaken together, management used the call to make a straightforward case: fiscal 2026 was about stabilizing the business, lowering the cost structure and restoring financial control, while fiscal 2027 is about monetizing that reset through product, payments and AI execution.

The company did not offer formal quarterly guidance on the call, but the emphasis on market-share gains, recurring cash flow and fewer legal distractions left investors with a clearer sense of management’s priorities and confidence level entering the new fiscal year.

POWW and the Zacks SignalsPOWW carries a Zacks Rank #3 (Hold), with a Value Score of F, Growth Score of B, Momentum Score of D and VGM Score of D, based on the provided Zacks data. A Zacks Rank #3 points to a more balanced near-term setup than the stronger Zacks Rank #1 (Strong Buy) or #2 (Buy) categories, while the Style Scores indicate better relative growth characteristics than value or momentum traits. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Style Score framework says higher grades are generally associated with better expected performance, and that the strongest combinations tend to be Rank #1 or #2 stocks paired with A or B Style Scores or VGM Scores. That leaves POWW with a mixed signal after the quarter, and that ranking can still change as earnings estimate revisions adjust following the latest results.

Intuitive Machines (LUNR 6.40%) spooked the stock market earlier this month, and its timing couldn't have been worse. (At least, from one perspective. More on that in a moment.)

Shares of the space stock -- which, in 2024, became the first American company to land a spacecraft on the moon, and the first American anything to return to the moon in 50 years -- are down an astounding 46% in June.

Yes, this is partly because the SpaceX (SPCX +0.54%) IPO sucked all the oxygen out of the room last Friday, and vacuumed up all the investor cash that used to be invested in other space stocks. Still, Intuitive got the sell-off started all on its own when it announced plans on June 3 to raise $500 million in cash by selling a bunch of new shares.

Image source: Getty Images.

Timing is everything I've got good news for Intuitive shareholders, as well as this bad news: Intuitive Machines announced its share sale soon after hitting an all-time high near $46. Assuming it's made good on its plans and been selling as many shares as it could, as fast as humanly possible, the company may still come out of this sell-off just fine in the end.

Why is that?

Consider that, at the end of 2025, Intuitive stock was trading around $16 per share. Successful contract wins combined with SpaceX IPO fever drove that price up nearly threefold through the end of May.

Did this make the stock overvalued? I think so (and this is coming from an owner of Intuitive Machines stock). Still, by the time Intuitive announced its share sale, the stock was within pennies of $40 a share -- meaning that raising $500 million might have required issuing no more than 12.5 million shares, diluting shareholders by only 7.8%.

What's more, the potential $500 million windfall from such a sale would generate plenty of cash to bridge the gap between when Intuitive is still burning cash and when it finally becomes free cash flow positive on its own (analysts expect this to happen in 2027 or early 2028). This would mean that Intuitive never has to raise cash again.

Today's Change

(

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-1.34

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$

19.61

What could go wrong? The question facing investors now is: Did Intuitive Machines manage to sell its shares and raise cash before its stock price collapsed after the SpaceX IPO?

The truth is, we don't yet know. The fact that Intuitive Machines' stock price fell so rapidly and consistently after it announced its share sale certainly suggests that the company was flooding the market with new shares this month. If it did, and if it raised enough cash fast enough, then Intuitive Machines may have accomplished its goal in time.

We'll have to wait for the company's next earnings report to know for sure, however. Intuitive Machines is due to report second-quarter results on Aug. 6. Tune in then to find out.

Key Takeaways Alto Ingredients lifted its return on essential ingredients to 53.4% from 48.2% a year earlier.Higher corn oil prices, driven by renewable biofuels demand, added $2.2 million to quarterly revenues.The Pekin Campus return improved to 54% from 48%, reflecting better byproduct economics. Alto Ingredients, Inc. (ALTO - Free Report) generated more value from every bushel of corn it processed in the first quarter of 2026, even as weather-related disruptions at its Pekin campus weighed on production volumes. The improvement reflected the company's ability to derive higher returns from its co-products while benefiting from lower feedstock costs.

The company’s consolidated return on essential ingredients, which measures co-product revenues relative to total corn costs consumed, increased to 53.4% in the first quarter of 2026 from 48.2% in the year-ago period. The improvement came even as the company faced softer demand and increased competition in high-quality alcohol markets.

Much of the improvement was driven by stronger pricing across Alto Ingredients’ co-product portfolio. In particular, higher corn oil prices, supported by demand from renewable biofuels producers, provided a $2.2 million boost to revenues during the quarter. At the same time, the company also benefited from lower corn costs, which further enhanced returns from its corn-processing operations.

The Pekin Campus accounted for a significant portion of the gains. Its essential ingredients return improved to 54% from 48% a year earlier, reflecting better economics across the company's mix of byproducts. With stronger co-product economics and a lower-cost grain environment, Alto Ingredients was able to extract greater value from the same underlying corn input.

The results highlight the importance of co-products in Alto Ingredients' corn-processing economics, with stronger pricing helping it derive greater value from each bushel of corn processed.

What Do the Latest Metrics Say About Alto Ingredients?Alto Ingredients, which competes with Green Plains Inc. (GPRE - Free Report) and MGP Ingredients, Inc. (MGPI - Free Report) , has seen its shares rally 352.3% in the past year compared with the industry’s 3% growth. Shares of Green Plains have risen 166.1%, while MGP Ingredients has declined 44.2% during the same period.

Image Source: Zacks Investment Research

From a valuation standpoint, Alto Ingredients’ forward price-to-sales ratio of 0.39 is lower than the industry’s average of 3. The company is trading at a discount to Green Plains (with a forward price-to-sales ratio of 0.53) and MGP Ingredients (0.70).

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for Alto Ingredients’ current fiscal-year earnings per share (EPS) implies a year-over-year surge of 671.4%, while the consensus mark for the next fiscal year’s EPS implies growth of 53.7%.

Image Source: Zacks Investment Research

Alto Ingredients currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Major Investor Completes a Direct Investment Priced at $1.20 per Share - a Premium of More Than 100% to Recent Trading Levels

The Investor Has Also Expressed Interest in Evaluating Up to $10 Million in Potential Additional Financing as Worksport Advances Its 2026 Growth Plan

WEST SENECA, NY / ACCESS Newswire / June 18, 2026 / Worksport Ltd. (NASDAQ:WKSP) ("Worksport" or the "Company"), a U.S.-based innovator and manufacturer of hybrid and clean energy solutions primarily for the light truck, overlanding, and global consumer goods markets, today announced a premium-priced direct investment from a specialized private investment firm based in Jericho, New York.

The direct investment was priced at $1.20 per unit (each unit consisting of one share of common stock and one warrant), representing approximately a 100% premium to Worksport's recent trading price of $0.5983, underscoring the investor's confidence in the Company's outlook and long-term growth potential. The financing also includes warrants exercisable at $1.50 per share, further aligning the transaction with potential future upside in Worksport's common stock.

The investor has also expressed interest in evaluating additional financing transactions with Worksport of up to $10 million, subject to market conditions, available registration capacity, regulatory requirements, definitive documentation, and Company approval. There can be no assurance that any additional financing will be completed, and any such transaction would be subject to negotiation and execution of definitive agreements on terms acceptable to both parties.

Premium-Priced Capital Reflects Outside Confidence During a Key Execution Year

Worksport believes the structure of this investment is notable because it was priced at a substantial premium to the Company's recent market price. Management views the premium pricing, warrant structure, and additional financing interest as a constructive signal as Worksport continues executing against its 2026 commercial growth plan.

The investment was completed through a registered direct offering pursuant to the Company's effective shelf registration statement on Form S-3. The initial investment amount was $250,000. D. Boral Capital LLC acted as exclusive placement agent for the offering. Investors may review the terms and conditions of the offering and the warrants in the Company's Current Report on Form 8-K which will be filed with the SEC.

Financing Interest Follows Expanding Commercial Momentum

This announcement follows several recent Worksport milestones. The Company reported Q1 2026 net sales of $3.3 million, up 47.9% year over year, and gross profit of approximately $854,000, up 115.5% year over year, with gross margin improving to 26%. Worksport has also reiterated its target of reaching initial operational cash-flow positivity within 2026, driven by a quarterly revenue goal of $9M with 35% gross margins.

Worksport's recent growth plan is supported by several active business drivers, including expanded tonneau cover sales, the launch of the Company's new Nexus tonneau cover, early commercialization of SOLIS and COR, and broader B2B and B2C distribution growth. The Company also recently announced a distribution relationship with Tri-State Enterprises, projected by Worksport to become a seven-figure annual account.

In addition to its core tonneau and clean-energy product strategy, Worksport recently announced that its subsidiary, Terravis Energy, secured a newly issued U.S. patent for its ZeroFrost™ heat-pump technology. Management believes this patent strengthens the Company's long-term intellectual property position while preserving potential upside beyond Worksport's core 2026 revenue drivers.

CEO Commentary

"We believe this premium-priced investment sends an important message at a pivotal time for Worksport," said Steven Rossi, Founder and Chief Executive Officer of Worksport. "Our shares have been trading at levels that we believe do not reflect the commercial progress, product portfolio, manufacturing platform, and revenue trajectory we are building. A direct investment priced at $1.20 per share, paired with $1.50 warrants and interest in evaluating up to $10 million in total financing, represents a strong vote of confidence in our direction."

Mr. Rossi continued, "The dollar amount of this initial investment is not the headline. The headline is that Worksport secured capital at a substantial premium to the market while continuing to attract interest from investors who recognize the scale of the opportunity ahead. We are focused on converting our inventory, expanding distribution, increasing sales velocity, launching high-margin products, and executing toward operational cash flow positivity. Our objective remains clear: build a stronger company, create long-term shareholder value, and position Worksport for sustained growth."

Stay tuned for more information and join our mailing list to stay up to date with the latest: Join Worksport's Newsletter

Contacts

Investor Relations, Worksport Ltd. T: 1 (888) 554-8789 ext. 128

W: investors.worksport.com W: www.worksport.com E: [email protected]

Connect with Worksport Chief Executive Officer, Steven Rossi

Steven Rossi X (Twitter)

Steven Rossi LinkedIn

About Worksport

Worksport Ltd. (NASDAQ:WKSP), through its subsidiaries, designs, develops, manufactures, and owns the intellectual property on a variety of tonneau covers, solar integrations, portable power systems, and clean heating & cooling solutions. Worksport's hard-folding cover, designed and manufactured in-house, is compatible with all major truck models and is gaining traction with newer truck makers including the electric vehicle (EV) sector. Worksport seeks to capitalize on the growing shift of consumer mindsets towards clean energy integrations with its proprietary solar solutions, mobile energy storage systems (ESS), and Cold-Climate Heat Pump (CCHP) technology. Terravis Energy's website is terravisenergy.com.

Connect With Worksport

Please follow the Company's social media accounts on X (previously Twitter), Facebook, LinkedIn, YouTube, and Instagram, the links of which are links to external third-party websites, as well as sign up for the Company's newsletters at investors.worksport.com.

Social Media Disclaimer

The Company does not endorse, ensure the accuracy of, or accept any responsibility for any content on these third-party websites other than content published by the Company. Investors and others should note that the Company announces material financial information to our investors using our investor relations website, press releases, Securities and Exchange Commission ("SEC") filings, and public conference calls and webcasts. The Company also uses social media to announce Company news and other information. The Company encourages investors, the media, and others to review the information the Company publishes on social media. The Company does not selectively disclose material non-public information on social media. If there is any significant financial information, the Company will release it broadly to the public through a press release or SEC filing prior to publishing it on social media.

Forward-Looking Statements

The information contained herein may contain "forward‐looking statements." Forward‐looking statements reflect the current view about future events. When used in this press release, the words "anticipate," "believe," "estimate," "scheduled," "expect," "future," "intend," "plan," "project," "envisioned," "should," or the negative of these terms and similar expressions, as they relate to us or our management, identify forward‐looking statements. These statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial situation may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: (i) supply chain delays; (ii) acceptance of our products by consumers; (iii) delays in or nonacceptance by third parties to sell our products; (iv) competition from other producers of similar products; and (v) with respect to any potential additional financing transactions, there can be no assurance that any such transactions will be consummated, and any such transactions would be subject to, among other things, market conditions, available shelf registration capacity, applicable regulatory requirements (including Nasdaq listing rules), negotiation and execution of definitive documentation on mutually acceptable terms, and approval by the Company's Board of Directors. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the SEC, including, without limitation, our latest Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC's web site at www.sec.gov. As a result of these matters, changes in facts, assumptions not being realized or other circumstances, the Company's actual results may differ materially from the expected results discussed in the forward-looking statements contained in this press release. The forward-looking statements made in this press release are made only as of the date of this press release, and the Company undertakes no obligation to update them to reflect subsequent events or circumstances.

SOURCE: Worksport Ltd.

A drone view shows the building of the Brazil's state-run oil company Petrobras, amid a workers strike, in Rio de Janeiro, Brazil December 19, 2025. REUTERS/Pilar Olivares/File Photo Purchase Licensing Rights, opens new tab

CompaniesRIO DE JANEIRO, June 18 (Reuters) - Brazil's state-run oil firm Petrobras (PETR3.SA), opens new tab plans to resume construction of a fertilizer plant in Mato Grosso ​do Sul state by September, in another move to reduce the ‌country's dependence on imports, executive William Franca said on Thursday.

Construction of the UFN-III fertilizer plant in Tres Lagoas, which will cost $1 billion to finish, has been on hold since 2015.

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The ​company aims to begin operations in 2029, Franca, Petrobras' director of industrial ​processes and products, told Reuters.

The nitrogen fertilizer plant will have production ⁠capacity of 3,600 metric tons per day of urea and 2,200 tons ​per day of ammonia.

The Tres Lagoas location is considered strategic due to its proximity ​to major agribusiness consumer hubs such as the states of Mato Grosso, Mato Grosso do Sul, Goias, Parana and Sao Paulo.

The resumption is part of a broader Petrobras strategy to reduce ​Brazil's dependence on imported fertilizers. The company has reactivated other nitrogen fertilizer units ​in Parana, Bahia and Sergipe.

"This plant alone should reduce urea imports by 12%. With the ‌other ⁠plants combined, that reduction could reach 35%," Franca said.

PRESSURE MAY EASE ON REFINERIESFollowing a U.S.-Iran interim agreement to end the war between the countries, pressure is likely to decrease on Petrobras' refining operations, which have run at high levels to minimize ​fuel imports.

The refineries ​are operating at ⁠around 101% of capacity, and are expected to remain at that level through June, Franca said. Petrobras increased processing during ​the war to cut the need for imports.

Under a more ​stable scenario, ⁠the company intends to resume scheduled maintenance shutdowns that had been postponed, Franca said, without providing details.

"It's not possible to stay above 100% all the time. We ⁠postponed some ​shutdowns because of the war, but we will ​mainly carry out some planned outages, especially in 2027, also due to regulatory requirements," he said.

Reporting ​by Rodrigo Viga Gaier; Writing by Fernando Cardoso; Editing by Mark Porter, Rod Nickel

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

Key Takeaways Nebius ended Q1 2026 with $9.3B in cash after debt, equity and upfront-payment inflows.Nebius lifted 2026 capex guidance to $20B-$25B as it accelerates capacity expansion.Nebius says demand exceeds supply, available capacity is selling out and 2027 commitments are in place. Nebius Group N.V. (NBIS - Free Report) has built a sturdy cash profile with $9.3 billion in cash and cash equivalents at the end of the first quarter of 2026. A strong cash position offers ample financial flexibility to pursue expansion, both organic and inorganic.

The cash build was driven by various financial initiatives, including a $4.3 billion convertible debt raise (gross proceeds) and a $2 billion equity investment from NVIDIA, alongside customer upfront payments that boosted operating cash flow to $2.3 billion for the quarter.

This fortified balance sheet comes at a time when Nebius is rapidly focused on capacity expansion, which has led to a sharp acceleration in capital expenditures. Capex for 2026 is now expected to be $20-$25 billion, up from its earlier guidance of $16-$20 billion.

Management noted that the capacity deployment is tied to visibility into future demand, particularly for 2027, for which it already has customer commitments in place. The company also noted that it is already selling out the available capacity, with demand consistently exceeding supply, implying that spending is less speculative and more about meeting anticipated workloads.

Importantly, Nebius is using various sources to fund capacity expansion. The company is raising capital through asset-backed financing buoyed by its contracts with Meta and Microsoft (MSFT - Free Report) . Other financing options include corporate-level debt and an at-the-market program.

With demand continuing to exceed supply and most capacity already sold out, Nebius appears well positioned to convert its cash strength into capacity expansion. While execution remains key, the company’s sizable cash and funding flexibility provide a strong foundation to scale its AI cloud platform. However, the opportunity is unfolding in a highly competitive space with tech giants and pure plays like CoreWeave (CRWV - Free Report) aggressively focused on capacity build to capture a rapidly developing market.

Taking a Look at Competitors’ Financial ResourcesCoreWeave is shoring up its financial resources to support AI infrastructure buildouts. At the first quarter-end, the company had more than $3.3 billion in cash, cash equivalents, restricted cash and marketable securities, while securing more than $20 billion in debt and equity capital financing year to date (as announced on the last earnings call), widening access to capital while lowering its cost of debt.

Like NBIS, the company also raised $2 billion in equity tied to its NVIDIA partnership. CRWV has dramatically accelerated investments to keep up with AI demand. 2026 capital expenditures are projected to be between $31 billion and $35 billion, reflecting the broad scale of its AI infrastructure ambitions.

Microsoft’s financial resources are stupendous. As of March 31, 2026, cash, cash equivalents and short-term investments stood at $78.3 billion. For the last reported quarter, the company generated $46.7 billion in operating cash flow, up 26% year over year, while free cash flow stood at $15.8 billion despite accelerated capital spending. MSFT is scaling investments, with fiscal third-quarter capital expenditures hovering at $31.9 billion. Fiscal fourth-quarter capex is expected to exceed more than $40 billion, reflecting the continued buildout of AI infrastructure.

For calendar 2026, Microsoft plans to invest approximately $190 billion in capex, including about $25 billion attributed to component pricing pressures, underscoring both scale and inflationary pressures in AI infrastructure. Increasing capital intensity remains a key concern for investors. MSFT's long-term debt (including the current portion) was $40.3 billion as of March 31, 2026.

NBIS Price Performance, Valuation and EstimatesShares of Nebius are up 40.6% in the past month compared with the Internet – Software and Services industry’s 11.3% growth.

Image Source: Zacks Investment Research

On a forward price-to-sales basis, NBIS’ shares are trading at 10.62X, above the Internet Software Services industry’s 4.53X.

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for NBIS’ earnings for 2026 has been revised upwards over the past 60 days.

Image Source: Zacks Investment Research

NBIS currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.