Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the "long context," investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.
While many investors like to look for momentum in stocks, this can be very tough to define. There is a lot of debate surrounding which metrics are the best to focus on and which are poor quality indicators of future performance. The Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.
Below, we take a look at State Street Corporation (STT - Free Report) , a company that currently holds a Momentum Style Score of A. We also talk about price change and earnings estimate revisions, two of the main aspects of the Momentum Style Score.
It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. State Street Corporation currently has a Zacks Rank of #1 (Strong Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of "A or B" outperform the market over the following one-month period.
You can see the current list of Zacks #1 Rank Stocks here >>>
Set to Beat the Market? In order to see if STT is a promising momentum pick, let's examine some Momentum Style elements to see if this company holds up.
A good momentum benchmark for a stock is to look at its short-term price activity, as this can reflect both current interest and if buyers or sellers currently have the upper hand. It is also useful to compare a security to its industry, as this can help investors pinpoint the top companies in a particular area.
For STT, shares are up 1.27% over the past week while the Zacks Banks - Major Regional industry is up 1.31% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 9.69% compares favorably with the industry's 4.93% performance as well.
Considering longer term price metrics, like performance over the last three months or year, can be advantageous as well. Shares of State Street Corporation have increased 22.92% over the past quarter, and have gained 67.41% in the last year. On the other hand, the S&P 500 has only moved 5.37% and 20.16%, respectively.
Investors should also pay attention to STT's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. STT is currently averaging 2,512,177 shares for the last 20 days.
Earnings OutlookThe Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. Investors should note that earnings estimates are also significant to the Zacks Rank, and a nice path here can be promising. We have recently been noticing this with STT.
Over the past two months, 7 earnings estimates moved higher compared to none lower for the full year. These revisions helped boost STT's consensus estimate, increasing from $12.35 to $13.68 in the past 60 days. Looking at the next fiscal year, 8 estimates have moved upwards while there have been no downward revisions in the same time period.
Bottom LineGiven these factors, it shouldn't be surprising that STT is a #1 (Strong Buy) stock and boasts a Momentum Score of A. If you're looking for a fresh pick that's set to soar in the near-term, make sure to keep State Street Corporation on your short list.
Custom Health Holdings Inc (TSX:CHLT) just landed Buy-rated coverage from Stifel, with analysts setting a C$12 price target and pointing to upside as high as C$18 a share.
The pitch: a pill-dispensing platform that's quietly solving one of healthcare's most expensive headaches.
That headache is medication non-adherence, which costs the US healthcare system an eye-watering $0.5 trillion a year. Only about half of prescriptions get taken as directed, and the fallout, hospitalizations, ER visits, disease progression, adds up fast.
Custom Health's answer is a full-stack system: a device called Spencer that dispenses and monitors pills at home, an AI-powered platform called AdhereNet, and a network of automated pharmacies behind it. Stifel says the result is a 98% adherence rate, far above the industry norm.
Insurers have taken notice. Custom Health already has more than 100,000 patients contracted through deals with major US health plans, including Humana (NYSE:HUM), Elevance and BlueCross BlueShield, plus pain management specialists Commonwealth and BKC. Stifel expects the company to nearly triple its active patient count next year, from about 6,000 to 17,000, helped along by its recent acquisition of InnovativeRx, with revenue more than doubling.
One area where Custom Health has a particularly good story to tell: opioids. The platform helps physicians safely wean patients off opioid prescriptions, which lines up with the NOPAIN Act, a law that kicked in this past January and sweetens Medicare reimbursement for opioid-reduction efforts. Better adherence also tends to boost Medicare Star ratings, translating into higher rebates and bonus payments for health plans.
The typical Custom Health patient is in their 50s or 60s and juggling more than 10 chronic medications, exactly the population set to grow as the US and Canada keep aging.
Stifel thinks the InnovativeRx deal could unlock 4x revenue growth over the next two to three years as Custom Health works through 30,000 of the 100,000 patients already under contract, with more acquisitions still on the table.
The margin story is arguably the most compelling part: the Spencer device alone represents close to a $200 million recurring revenue opportunity at gross margins north of 60%. Layered on top of traditional pharmacy dispensing margins around 20%, Stifel sees a path to EBITDA margins in the high teens, well above what most pharmacy peers manage.
Stifel's initiation wasn't the only news out of Custom Health this month. The company has since signed a binding letter of intent to acquire Wisconsin-based Evergreen Pharmacy LLC, a deal expected to add more than US$78 million in annual revenue.
The price tag is modest relative to that boost: US$3.5 million total, including at least US$1 million in prescription drug inventory and US$450,000 in net working capital, cash on closing, with US$175,000 held back for six months as an indemnity cushion.
Evergreen is licensed to operate in Wisconsin, Illinois and Michigan, with room to expand into Minnesota, and specializes in managing complex therapies across behavioral health, dermatology, gastroenterology, infectious disease, rheumatology and neurology. It brought in about US$78.8 million in revenue and US$0.6 million in normalized EBITDA for the 12 months ended December 31, 2025, and posted positive net income in both fiscal 2025 and the first quarter of 2026.
For Custom Health, the deal fits neatly with the growth story Stifel laid out: more patients on complex drug regimens, a bigger Midwest footprint, and another building block toward that four-times revenue potential.
Freeport-McMoRan Inc (NYSE:FCX, XETRA:FPMB) reported stronger-than-expected second quarter 2026 results on Thursday, with earnings and revenue topping Wall Street expectations, although shares edged about 2% lower as investors weighed a slightly reduced near-term copper sales outlook.
The company reported adjusted earnings per share of $0.74, ahead of analyst estimates of $0.62, while revenue came in at $7.03 billion, exceeding consensus expectations of $6.71 billion.
The company produced 786 million pounds of copper, 192,000 ounces of gold and 23 million pounds of molybdenum during the quarter. Consolidated sales totaled 710 million pounds of copper, 123,000 ounces of gold and 25 million pounds of molybdenum.
Freeport highlighted strong operational performance during the quarter, noting that consolidated copper sales exceeded its April 2026 estimates and average unit net cash costs were better than expected.
Average realized prices during the period were $6.17 per pound for copper, $4,520 per ounce for gold and $28.75 per pound for molybdenum.
Freeport maintained its full-year 2026 copper sales forecast at approximately 3.1 billion pounds, but lowered its third-quarter copper sales outlook to 750 million pounds.
The company expects third-quarter sales of 160,000 ounces of gold and 22 million pounds of molybdenum.
“We achieved strong results in the second quarter, supported by solid execution of our operating plans and favorable pricing for our products,” Freeport CEO Kathleen Quirk said.
“We made steady progress with our Grasberg ramp-up and our Americas operations delivered excellent performance, which resulted in year-over-year improvements to bottom-line results.”
Jefferies reiterated its ‘Buy’ rating on Freeport-McMoRan following the results, noting that second-quarter EBITDA came in 12% above consensus estimates, supported by higher copper sales and lower-than-expected costs.
The analyst highlighted that copper sales of 710 million pounds exceeded prior guidance of 690 million pounds, while net cash costs of $1.97 per pound were below the previous outlook of $2.24 per pound.
Jefferies noted that full-year copper sales guidance remained unchanged, while cost guidance was reduced by $0.05 per pound following the quarterly performance.
Jefferies wrote that the Grasberg Block Cave ramp-up appears to be progressing in line with expectations, although the timing of planned sales has shifted from the third quarter into the fourth quarter.
The analyst noted that the company’s 2028 production outlook was slightly reduced, but maintained that the key focus remains on delivering the Grasberg recovery plan over the next two years.
“The key for Freeport is to deliver the recovery at the GBC in line with guidance over the next two years,” Jefferies wrote, adding that a successful ramp-up could provide a “double benefit” through higher earnings and a higher valuation multiple for the shares.
The analyst concluded that Freeport remains a higher-risk, higher-reward investment opportunity.
Key Takeaways FCX beat earnings and revenue estimates despite lower copper and gold sales volumes. Freeport projects 2026 sales of 3.1B pounds of copper, 650,000 ounces of gold and 93M pounds of molybdenum. FCX expects 2026 operating cash flow of about $8.3B and capital spending of around $4.3B. Freeport-McMoRan Inc. (FCX - Free Report) recorded net income of $984 million or 68 cents per share for the second quarter of 2026, up from $772 million or 53 cents per share in the year-ago quarter.
Barring one-time items, adjusted earnings per share were 74 cents, up around 37% year over year from 54 cents. The figure topped the Zacks Consensus Estimate of 62 cents.
Revenues declined around 7.3% year over year to approximately $7.03 billion. The figure surpassed the Zacks Consensus Estimate of $6.47 billion. Lower copper and gold volumes were partly offset by significantly higher realized metal prices.
Freeport-McMoRan Inc. Price, Consensus and EPS SurpriseFCX’s Operational HighlightsCopper production fell around 18.4% year over year to 786 million pounds in the reported quarter.
Consolidated copper sales declined approximately 30.1% year over year to 710 million pounds. The fall primarily resulted from lower operating rates at PTFI during the phased ramp-up of the Grasberg Block Cave underground mine.
The company sold 123,000 ounces of gold in the quarter, down 76.4% year over year. Freeport also sold 25 million pounds of molybdenum, up 13.6% from the prior-year quarter.
Consolidated average unit net cash costs per pound of copper were $1.97, up around 74.3% from $1.13 a year ago. The figure missed our estimate of $2.12 per pound.
The average realized copper price was $6.17 per pound, up around 35.9% year over year. The figure exceeded our estimate of $6.05 per pound. The average realized gold price rose around 37.3% year over year to $4,520 per ounce. The figure marginally lagged our estimate of $4,536.26. The average realized molybdenum price was $28.75 per pound, up around 36.3% year over year. It surpassed our estimate of $27.73.
Freeport’s Financial PositionCash and cash equivalents at the end of the quarter were $4.1 billion, down around 9.1% year over year. Total debt was roughly $9.4 billion, up modestly from $9.25 billion at the end of the year-ago quarter.
Cash flows provided by operating activities were $2 billion in the reported quarter, down around 6.7% year over year. Capital expenditures totaled $1.1 billion compared with $1.26 billion in the prior-year quarter.
FCX’s GuidanceFor full-year 2026, consolidated sales volumes are expected to 3.1 billion pounds of copper, 650,000 ounces of gold and 93 million pounds of molybdenum.
This includes projected third-quarter sales of 750 million pounds of copper, 160,000 ounces of gold and 22 million pounds of molybdenum.
Consolidated average unit net cash costs are expected to average $1.90 per pound of copper for 2026, including $2 per pound in the third quarter. Freeport also projects full-year operating cash flows of $8.3 billion and capital expenditures of around $4.3 billion.
FCX’s Price PerformanceShares of Freeport have gained 45.8% over the past year compared with a 58.2% rise in its industry.
Image Source: Zacks Investment Research
FCX’s Zacks Rank & Key PicksFCX currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Basic Materials space are CSW Industrials, Inc. (CSW - Free Report) , Carpenter Technology Corporation (CRS - Free Report) and Ternium S.A. (TX - Free Report) .
CSW Industrials is expected to report second-quarter results on July 30. The Zacks Consensus Estimate for CSW’s second-quarter earnings is pegged at $3.66 per share. It carries a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
CRS is slated to report second-quarter results on July 30. The Zacks Consensus Estimate for earnings is pegged at $3.03 per share. CRS has a Zacks Rank #1 at present.
Ternium is scheduled to report second-quarter results on Aug. 4. The Zacks Consensus Estimate for TX’s second-quarter earnings is pegged at $1.06 per share. It currently carries a Zacks Rank #1.
Freeport-McMoRan Inc (NYSE:FCX, XETRA:FPMB) reported stronger-than-expected second quarter 2026 results on Thursday, with earnings and revenue topping Wall Street expectations, although shares edged about 2% lower as investors weighed a slightly reduced near-term copper sales outlook.
The company reported adjusted earnings per share of $0.74, ahead of analyst estimates of $0.62, while revenue came in at $7.03 billion, exceeding consensus expectations of $6.71 billion.
The company produced 786 million pounds of copper, 192,000 ounces of gold and 23 million pounds of molybdenum during the quarter. Consolidated sales totaled 710 million pounds of copper, 123,000 ounces of gold and 25 million pounds of molybdenum.
Freeport highlighted strong operational performance during the quarter, noting that consolidated copper sales exceeded its April 2026 estimates and average unit net cash costs were better than expected.
Average realized prices during the period were $6.17 per pound for copper, $4,520 per ounce for gold and $28.75 per pound for molybdenum.
Freeport maintained its full-year 2026 copper sales forecast at approximately 3.1 billion pounds, but lowered its third-quarter copper sales outlook to 750 million pounds.
The company expects third-quarter sales of 160,000 ounces of gold and 22 million pounds of molybdenum.
“We achieved strong results in the second quarter, supported by solid execution of our operating plans and favorable pricing for our products,” Freeport CEO Kathleen Quirk said.
“We made steady progress with our Grasberg ramp-up and our Americas operations delivered excellent performance, which resulted in year-over-year improvements to bottom-line results.”
Jefferies reiterated its ‘Buy’ rating on Freeport-McMoRan following the results, noting that second-quarter EBITDA came in 12% above consensus estimates, supported by higher copper sales and lower-than-expected costs.
The analyst highlighted that copper sales of 710 million pounds exceeded prior guidance of 690 million pounds, while net cash costs of $1.97 per pound were below the previous outlook of $2.24 per pound.
Jefferies noted that full-year copper sales guidance remained unchanged, while cost guidance was reduced by $0.05 per pound following the quarterly performance.
Jefferies wrote that the Grasberg Block Cave ramp-up appears to be progressing in line with expectations, although the timing of planned sales has shifted from the third quarter into the fourth quarter.
The analyst noted that the company’s 2028 production outlook was slightly reduced, but maintained that the key focus remains on delivering the Grasberg recovery plan over the next two years.
“The key for Freeport is to deliver the recovery at the GBC in line with guidance over the next two years,” Jefferies wrote, adding that a successful ramp-up could provide a “double benefit” through higher earnings and a higher valuation multiple for the shares.
The analyst concluded that Freeport remains a higher-risk, higher-reward investment opportunity.
SummaryFreeport-McMoRan delivered a solid Q2, beating EPS and revenue estimates, and reaffirmed full-year guidance despite recent stock volatility.FCX lowered 2026 unit cost guidance to $1.90/lb, raised molybdenum production targets, and remains well positioned with $962 million in Q2 free cash flow.I maintain a “Buy” rating, with fair value near $81 based on $3.40 NTM EPS and a 24x P/E multiple, supported by strong copper prices and operational execution.Technically, FCX faces resistance in the low $70s but benefits from a rising 200-day moving average, with $55 as key support. Michel Lunanga/Getty Images News
It has been a frustrating few months for Freeport-McMoRan Inc. (FCX) investors. Shares have fluctuated wildly since January and have been little changed since my April 2026 “Buy” rating. Still, the world’s largest copper miner has seen its stock return 24% so
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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
Conventional wisdom says breakfast is the most important meal of the day, but you don't want to be starting your morning off by eating any of the 19 million eggs that are part of a massive recall.
Key Takeaways Public Storage is expected to post higher Q2 revenues but lower core FFO per share year over year.PSA completed the National Storage Affiliates acquisition, adding 1,000 properties and 550,000 units.PSA expects the deal to lift FFO per share through annual synergies over the next three to four years. Public Storage (PSA - Free Report) is slated to release second-quarter 2026 results on July 29, after market close. The quarterly results are expected to reflect an increase in revenues but a dip in core funds from operations (FFO) per share.
In the last reported quarter, this self-storage real estate investment trust (REIT) reported a core FFO per share of $4.22, surpassing the Zacks Consensus Estimate of $4.13. Results were backed by stable same-store occupancy, providing a steady operating base as lease-up assets added incremental growth.
Over the last four quarters, Public Storage outpaced the Zacks Consensus Estimate on all occasions, the average surprise being 1.55%. The graph below depicts the surprise history of the company:
On July 22, 2026, Public Storage announced completion of the acquisition of National Storage Affiliates Trust, adding more than 1,000 properties and 550,000 storage units. NSA shareholders received 0.14 Public Storage shares for each NSA share.
Public Storage expects the deal to boost FFO per share within the first year and eventually add about $0.35-$0.50 per share through $110-$130 million in annual synergies over three to four years. A separate joint venture will hold 313 former NSA properties, with Public Storage retaining a minority stake and managing the portfolio.
Let's dive deep to get an understanding of the factors that may impact Public Storage’s second-quarter 2026 results.
Factors at Play and Projections for PSA’s Q2 ResultsPublic Storage’s Q2 2026 results are likely to benefit from its strong brand, scale and PS Next operating platform, which supports digital customer engagement, pricing and cost efficiency. Stable occupancy, lower churn and improving move-in rent trends should have provided some support, while non-same-store properties, acquisitions, development projects and ancillary income are likely to have remained important growth drivers.
The Zacks Consensus Estimate for second-quarter revenues from self-storage facilities is pegged at $1.14 billion. This suggests an increase from the $1.12 billion witnessed in the year-ago period. The consensus mark for quarterly revenues from ancillary operations stands at $90.8 million, up from the $82.4 million registered in the comparable period last year.
The Zacks Consensus Estimate for quarterly revenues is pegged at $1.21 billion. This indicates a 1% year-over-year increase.
However, same-store revenue growth may have softened as weaker rental trends from late 2025 flowed through year-over-year comparisons. Sun Belt supply pressure, the Los Angeles rent restrictions and the shift of certain property-tax benefits into the first quarter could also weigh on results.
PSA’s activities during the quarter under review were not adequate to gain analysts’ confidence. The Zacks Consensus Estimate for the second-quarter core FFO per share has remained unchanged at $4.25 over the past two months. It indicates a marginal decrease year over year.
Here Is What Our Quantitative Model Predicts for PSA:Our proven model does not conclusively predict a surprise in terms of FFO per share for Public Storage this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an FFO beat, which is not the case here.
Public Storage currently carries a Zacks Rank of 3 and has an Earnings ESP of -0.28%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks That Warrant a LookHere are two stocks from the broader REIT sector — Digital Realty Trust (DLR - Free Report) and Cousins Properties (CUZ - Free Report) — you may want to consider, as our model shows that these have the right combination of elements to report an FFO beat this quarter.
Digital Realty is slated to report quarterly numbers on July 23. DLR has an Earnings ESP of +2.30% and a Zacks Rank of 3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Cousins is slated to report quarterly numbers on July 30. CUZ has an Earnings ESP of +0.45% and a Zacks Rank of 3 at present.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.
Key Takeaways Cerebras will power Falcon AIDR with wafer-scale inference for real-time threat detection.The deal expands Cerebras into cybersecurity and strengthens its enterprise AI infrastructure position.First-quarter revenues rose 94% to $193.4 million, while 2026 core guidance increased to $855-$865 million. Cerebras Systems (CBRS - Free Report) announced on Thursday (July 22) that it has inked a partnership with CrowdStrike (CRWD - Free Report) , under which the latter will leverage CBRS’ wafer-scale inference technology to help power Falcon AI Detection and Response (AIDR). This will enable larger AI security models to operate at machine speed for real-time threat detection. At the same time, Cerebras has standardized on the CrowdStrike Falcon platform to secure its own operations, underscoring the strategic nature of the collaboration.
Cerebras’ latest partnership with CrowdStrike marks another important validation of its high-speed AI inference platform and expands its presence into one of the fastest-growing enterprise AI markets — cybersecurity. The partnership reinforces Cerebras’ strategy of targeting latency-sensitive AI inference workloads, where response time directly impacts business outcomes. The company has emphasized that “fast tokens are more valuable tokens” because speed improves productivity and enables new AI applications, which are necessary for cybersecurity applications.
The CrowdStrike collaboration broadens Cerebras’ customer base beyond frontier AI model developers into enterprise software. This diversification complements the company’s recently announced multi-year OpenAI agreement worth more than $20 billion and its Amazon Web Services partnership, which are already driving strong commercial momentum. In the first quarter of 2026, revenues increased 94% year over year to $193.4 million, including 178% growth in cloud and other services revenues, reflecting accelerating adoption of Cerebras’ inference platform. CBRS raised its 2026 core revenue guidance to $855-$865 million, indicating 69% year-over-year growth at the midpoint.
The CrowdStrike partnership strengthens Cerebras’ positioning as an enterprise AI infrastructure provider rather than solely a hardware vendor. Cloud and services revenues are becoming an increasingly important growth driver for the company. Remaining performance obligations reached approximately $25 billion at the end of first-quarter, largely supported by long-term AI infrastructure contracts. The addition of cybersecurity to CBRS’ portfolio of inference use cases expands the company’s addressable market, thereby driving top-line growth over the long term.
Cerebras Faces Tough CompetitionCerebras is facing stiff competition from the likes of CoreWeave (CRWV - Free Report) and Broadcom (AVGO - Free Report) in the AI infrastructure domain.
CoreWeave is pursuing one of the industry's largest AI infrastructure expansions. In partnership with NVIDIA, the company plans to build more than 5 gigawatts (GW) of AI factory capacity by 2030 while adopting multiple generations of NVIDIA AI platforms. It also recently expanded its European footprint through new AI cloud deployments in Stockholm, Sweden, powered by renewable energy, and signed a $21 billion long-term AI infrastructure agreement with Meta.
Broadcom has been benefiting from rising AI revenues, driven by strong demand for XPUs. AI semiconductor revenues reached a record $10.8 billion in the fiscal second quarter, suggesting a 143% year-over-year surge. Broadcom expects it to rise to $16 billion in the fiscal third quarter, indicating more than 200% year-over-year growth. AVGO’s management disclosed that AI semiconductor bookings exceeded $30 billion during the fiscal second quarter, nearly three times quarterly AI shipments. Remaining Performance Obligations reached $164.6 billion, including commitments under new custom AI accelerator contracts. These agreements provide exceptional long-term revenue visibility.
CBRS’ Share Price Performance, Valuation & EstimatesCerebras shares have jumped 15.3% in the past month, outperforming the broader Zacks Business Services sector’s return of 2.7%.
CBRS Stock’s Price Performance
Image Source: Zacks Investment Research
Cerebras stock is trading at a forward 12-month price/sales of 24.62X, higher than its median of 24.22X. CBRS has a Value Score of D.
CBRS’ Valuation
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for 2026 loss is pegged at 89 cents per share, narrower than the loss of $1.14 per share over the past 30 days.
Cerebras currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Key Takeaways Ventas is expected to report year-over-year revenues and normalized FFO per share growth in Q2 2026.Strong SHOP performance, positive net move-ins and high occupancy could support quarterly results.Higher interest expenses and lower triple-net rental income may weigh on Ventas' second-quarter performance. Ventas, Inc. (VTR - Free Report) is scheduled to report second-quarter 2026 results on July 29, after market close. The quarterly results are likely to have displayed year-over-year growth in revenues and normalized funds from operations (FFO) per share.
In the last reported quarter, this Chicago-based healthcare real estate investment trust (REIT) delivered a normalized FFO per share of 94 cents, beating the Zacks Consensus Estimate of 91 cents by 3.3%. The quarterly results reflected a year-over-year increase in same-store cash net operating income on the strong performance of the senior housing operating portfolio (SHOP) and outpatient medical research (OM&R) portfolio.
Ventas’ normalized FFO per share surpassed the Zacks Consensus Estimate in three of the preceding four quarters and met once, with the average beat being 1.70%. The graph below depicts this surprising history:
Factors at Play for VTRIn the second quarter of 2026, Ventas’ SHOP is likely to have benefited from an aging U.S. population and a rise in healthcare expenditure by this age cohort, which is generally higher than that of the average population. With the segment witnessing positive net move-ins, occupancy is expected to have remained high.
A well-diversified tenant base with long-term leases is expected to have contributed well to stable rental revenue generation, boosting the top line.
However, the triple-net leased properties are likely to have been affected during the to-be-reported quarter. Further, high interest expenses are expected to have cast a pall on the company’s performance to some extent.
VTR’s Q2 ProjectionsThe Zacks Consensus Estimate for second-quarter 2026 revenues is currently pegged at $1.67 billion, implying a 17.36% increase from the prior-year quarter’s reported figure.
The Zacks Consensus Estimate for second-quarter resident fees and services is pegged at $1.29 billion, suggesting an increase from $1.03 billion reported in the year-ago period.
The consensus mark for outpatient medical & research (OM&R) portfolio rental income for the second quarter is pegged at $230.4 million, indicating an increase from $220.8 million reported in the year-ago period.
Ventas’ activities during the soon-to-be-reported quarter have been adequate to gain analysts’ confidence. The Zacks Consensus Estimate for second-quarter FFO per share has increased a cent to 96 cents over the past two months. The figure implies an increase of 10.34% from the year-ago quarter’s reported number.
However, the Zacks Consensus Estimate for second-quarter triple-net leased properties' rental income is pegged at $124.2 million, suggesting a decrease from $152.7 million reported in the year-ago period.
What Our Quantitative Model Predicts for VTROur proven model doesn’t conclusively predict a surprise in terms of FFO per share for Ventas this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an FFO beat, which is not the case here.
Ventas currently has an Earnings ESP of 0.00% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks That Warrant a LookHere are two stocks from the broader REIT industry, Extra Space Storage (EXR - Free Report) and Cousins Properties (CUZ - Free Report) , that you may want to consider, as our model shows that these have the right combination of elements to report a surprise this quarter.
EXR, which is scheduled to report quarterly results on July 28, 2026, has an Earnings ESP of +0.39% and a Zacks Rank of 3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Cousins Properties is slated to report quarterly numbers on July 30, 2026. CUZ has an Earnings ESP of +0.45% and carries a Zacks Rank of 3 at present.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO) — a widely used metric to gauge the performance of REITs.
Pentair investors are reacting to the July 2026 earnings reset after the Company lowered its FY2026 adjusted EPS midpoint from about $5.35 to $4.70. The investigation focuses on the market impact of that earnings miss and whether investors were given a timely view of the reset.
, /PRNewswire/ -- Pentair plc (NYSE: PNR) shares fell in market reaction on July 15, 2026, after the Company cut its FY2026 adjusted EPS midpoint from about $5.35 to $4.70, a $0.65 per-share reduction of approximately 12%. If you bought PNR before the earnings reset and suffered losses, this investigation may affect your rights. To respond while the investigation is active, submit your loss information now.
On April 28, 2026, CEO John L. Stauch told investors: "For the full year, we are increasing our adjusted EPS guidance midpoint to approximately $5.35, with a range of $5.30 to $5.40." In July 2026, Pentair moved that adjusted EPS range to $4.60-$4.80. The revised GAAP EPS range was $3.90-$4.10.
The earnings reset cut the adjusted EPS midpoint by approximately $0.65 per share. Investors who held through the July 2026 disclosure saw the market react to the lower FY2026 outlook.
PNR shareholders who suffered losses may provide trading details for review or call (212) 363-7500.
ABOUT THE FIRM -- For over two decades, Levi & Korsinsky has represented shareholders in securities class actions. Ranked in ISS Top 50 for seven consecutive years.
Frequently Asked Questions About the PNR Investigation
Q: What is the PNR investigation about?A: The investigation concerns Pentair plc (NYSE: PNR) and whether investors received timely and accurate information about the Company's FY2026 earnings outlook before the July 2026 guidance reset.
Q: Who is eligible to participate in the PNR investigation?A: Investors who purchased PNR stock or securities and suffered financial losses may be eligible. Eligibility is based on purchase date, transaction records, and documented losses -- not on whether you still hold the shares.
Q: Which statements are being investigated as potentially misleading?A: The investigation concerns statements about Pentair's FY2026 earnings outlook, including prior adjusted EPS guidance of approximately $5.30-$5.40 before the July 2026 reset to $4.60-$4.80.
Q: What documents do I need to participate?A: Brokerage statements or trade confirmations showing purchase dates, share quantities, prices paid, and any subsequent sale dates and prices.
Q: What is a lead plaintiff and why does it matter?A: If legal action is pursued, a lead plaintiff is the investor selected to represent affected investors. Lead plaintiffs are typically investors with large documented losses and the ability to represent the investor group.
Q: What if I already sold my PNR shares -- can I still recover losses?A: Yes. Eligibility is based on when you purchased and whether you suffered losses, not whether you still hold the shares.
Q: What does it cost me to participate?A: There is no upfront cost to participate. Securities investigations and any resulting actions are generally handled on a contingency basis, with no upfront fees, no retainer, and no out-of-pocket costs.
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Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
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Key Takeaways International contract wins across Kuwait, Iraq and Suriname strengthen Halliburton's long-term growth.Technology-led drilling and automation solutions improve efficiency, margins and customer value globally.Middle East risks, softer service activity and uneven guidance keep near-term earnings visibility limited. Halliburton Company (HAL - Free Report) enters the second half of 2026 with a stronger international growth case and a still-uneven operating backdrop. The stock’s appeal rests on contract momentum, technology adoption and exposure to long-cycle energy investment.
The caution is equally clear. Middle East activity, mobilization costs and service-line variability keep earnings visibility from fully matching the stronger backlog story.
Halliburton Is Leaning on International DemandInternational demand is the backbone of HAL’s current thesis. The company delivered $3.4 billion of international revenues in the second quarter, its highest second-quarter international level in more than a decade, despite disruptions in the Middle East.
Image Source: Halliburton Company
Management sees demand for Halliburton’s services and technology across every major region. Offshore, unconventional and intervention markets are carrying the international opportunity, and outside the Middle East, Halliburton expects low double-digit international growth in 2026.
HAL's Wins Are Expanding the Multiyear BacklogRecent awards are broadening Halliburton’s opportunity set. The company secured a multi-year Kuwait Oil Company agreement tied to Ahmadi Innovation Valley, an integrated field management and engineering contract in Iraq, unconventional drilling work in Algeria and long-term projects in Saudi Arabia’s Jafurah field.
Offshore work adds another layer to the backlog. Halliburton won integrated well construction contracts for TotalEnergies’ GranMorgu deepwater development offshore Suriname, supporting a more diversified revenue base across national oil companies and global operators.
SLB (SLB - Free Report) remains a key global technology competitor in energy services, while Baker Hughes Company (BKR - Free Report) gives investors another reference point for oilfield services and equipment exposure. Against that peer backdrop, Halliburton’s wins matter because they extend relationships in multiple geographies rather than depending on one market cycle.
Halliburton's Technology Is Driving Better MixTechnology is central to the margin story. Halliburton is using ZEUS IQ, LOGIX automation, OCTIV automated pumping controls and Sekal’s closed-loop drilling capabilities to improve well placement, drilling precision, recovery and operating efficiency.
This matters because the company is competing on performance, not only price. In Norway, the closed-loop drilling solution helped deliver back-to-back record wells, while the newest ZEUS IQ release gives customers better treatment control in simul-frac operations.
HAL Still Faces Near-Term Execution RisksThe improved long-term setup does not eliminate near-term risk. Middle East operations in Iraq, Kuwait, Bahrain and other markets remain tied to shifting geopolitical conditions, and management’s guidance assumes current activity rather than a return to pre-conflict levels.
Third-quarter guidance also points to uneven revenue trends. Completion and Production revenues are expected to be flat to down 2% sequentially, while Drilling and Evaluation revenues are expected to decline 3-5%.
Profit visibility is still affected by moving equipment into new international projects. Lower software sales, weaker project management activity in Latin America, lower specialty chemicals activity and Middle East service-line weakness show that recovery is not evenly distributed.
What HAL’s Ratings Signal NowThe bottom line is that HAL has a better international growth base, but the stock still reflects a balance between improving momentum and incomplete earnings visibility. Contract wins, technology deployment and cash generation support the long-term case, while guidance and geopolitical risk argue for discipline.
The stock currently carries a Zacks Rank #3 (Hold). That rank indicates a more balanced near-term earnings revision profile than a clear buy signal, which fits a company with credible drivers but not yet clean acceleration.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
HAL has a VGM Score of B, Value Score of B, Growth Score of C and Momentum Score of A. The Style Scores suggest solid value and very favorable momentum characteristics, while the Growth Score of C points to a less convincing growth profile than the headline award momentum alone might imply.
Key Takeaways Roper topped Q2 earnings and revenue estimates as Application Software delivered solid organic growth.ROP benefited from acquisitions and strength across software and technology-enabled product businesses.Roper raised its 2026 earnings outlook and expects revenue growth above 8% with about 6% organic growth. Roper Technologies’ (ROP - Free Report) second-quarter 2026 adjusted earnings of $5.38 per share surpassed the Zacks Consensus Estimate of $5.29. The bottom line increased 10% on a year-over-year basis.
Roper’s net revenues of $2.11 billion beat the consensus estimate of $2.10 billion. The top line increased 9% year over year. Organic revenues grew 5%, driven by solid momentum in the Application Software segment. Acquisitions boosted sales by 3%.
Roper’s Segmental Performance in Q2The company reports under three segments, namely Application Software, Network Software and Technology Enabled Products.
Application Software’s revenues totaled $1.18 billion, representing 56% of the quarter’s top line. The metric came almost in line with the Zacks Consensus Estimate. The segment’s revenues increased 8% on a year-over-year basis. Organic revenues increased 5%. Acquisitions boosted sales by 3%. Solid momentum in the company’s Aderant, Deltek, Vertafore and CentralReach businesses augmented the segment’s performance.
Network Software & Systems generated revenues of $430.9 million, accounting for 20.4% of the quarterly top line. The Zacks Consensus Estimate for the segment’s revenues was pegged at $437 million. Segmental revenues grew 12% year over year. Organic revenues increased 4%. Acquisitions boosted sales by 8%. Strong momentum in the ConstructConnect, Foundry and DAT businesses supported the segment’s performance.
The Technology Enabled Products segment generated revenues of $497.2 million, accounting for 23.6% of the quarter’s top line. The Zacks Consensus Estimate for the segment’s revenues was pegged at $475 million. Sales were up 7% year over year. Organic revenues grew 7%. The strong performance of the Verathon and NDI businesses drove the segment’s top-line performance.
ROP’s Margin ProfileRoper’s cost of sales increased 6.8% year over year to $638.7 million. Gross profit increased 9.3% to about $1.47 billion, while the gross margin increased to 69.7% from 69.2% in the year-ago quarter.
Selling, general and administrative expenses increased 11.1% year over year to $885.5 million. Adjusted EBITDA was $815 million, reflecting year-over-year growth of 5%. The margin decreased 130 basis points to 38.6%. Interest expenses (net) increased 40.8% year over year to $111.4 million.
Balance Sheet & Cash Flow of RoperExiting the second quarter of 2026, Roper had cash and cash equivalents of $364.9 million compared with $297.4 million at the end of December 2025. Long-term debt (net of current portion) was $10.60 billion compared with $8.60 billion at the end of 2025.
Roper generated net cash of $1.06 billion from operating activities in the first six months of 2026, reflecting an increase of 13.8% from the year-ago level. Capital expenditure totaled $25.3 million compared with $26 million in the year-ago period.
In the same period, ROP rewarded its shareholders with a dividend payment of $191.4 million, up 8% year over year. It repurchased shares worth $3.2 billion.
Roper’s OutlookFor 2026, Roper expects adjusted earnings per share from continuing operations to be in the range of $22.15-$22.30 compared with $21.80-$22.05 projected earlier. Total revenues are expected to increase more than 8%. Organic revenues are anticipated to increase approximately 6% from the year-ago number.
For the third quarter of 2026, Roper anticipates adjusted earnings to be in the band of $5.75-$5.80 per share.
ROP’s Zacks Rank and Other Stocks to ConsiderThe company currently carries a Zacks Rank #2 (Buy). Some other top-ranked stocks are discussed below:
Amdocs (DOX - Free Report) carries a Zacks Rank of 2 at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Amdocs’ earnings surpassed the consensus estimate in each of the trailing four quarters. The average earnings surprise was 1.3%. In the past 60 days, the Zacks Consensus Estimate for DOX’s fiscal 2026 bottom line has been stable.
CoStar Group (CSGP - Free Report) presently carries a Zacks Rank of 2. CoStar Group’s earnings surpassed the consensus estimate in each of the trailing four quarters. The average earnings surprise was 23%. In the past 60 days, the Zacks Consensus Estimate for CSGP’s 2026 earnings has been stable.
Nutanix (NTNX - Free Report) currently carries a Zacks Rank of 2. Nutanix’s earnings topped the consensus estimate in each of the trailing four quarters. The average earnings surprise was 19.3%. In the past 60 days, the Zacks Consensus Estimate for NTNX’s fiscal 2026 earnings has increased 5.5%.
Key Takeaways Essex Property is expected to post higher Q2 revenues, while core FFO per share remains flat year over year.ESS may benefit from high occupancy, peak leasing season and limited new apartment supply in Q2.ESS projects Q2 core FFO of $3.92-$4.04 per share and sees Northern California leading growth. Essex Property Trust, Inc. (ESS - Free Report) is scheduled to report its second-quarter 2026 results on July 29, after market close. The company’s quarterly results are likely to reflect year-over-year growth in revenues, while core funds from operations (FFO) per share might remain unchanged.
In the last reported quarter, this San Mateo, CA-based residential real estate investment trust (REIT) delivered a surprise of 2.53% in terms of core FFO per share. Results reflected favorable growth in same-property net operating income (NOI) aided by solid property-level momentum.
Over the trailing four quarters, Essex Property’s earnings surpassed the Zacks Consensus Estimate on three occasions and missed on the other, the average surprise being 0.82%. The graph below depicts the surprise history of the company:
Let’s see how things have shaped up before this announcement.
US Apartment Market in Q2The U.S. multifamily market entered the second half of 2026 with a clearer recovery taking shape, as strong renter demand and a rapidly shrinking supply pipeline began translating into lower vacancy and improving rent growth.
According to a Cushman & Wakefield report, net absorption reached roughly 124,600 units, up from 83,500 units in the first quarter and 8% above the prior year, making it the fifth-strongest quarter in nearly 25 years. The supply picture also became more favorable. Approximately 88,000 units were delivered during the quarter, down 27% year over year. Around 475,000 units remained under construction at quarter-end, equal to just 3.5% of existing inventory.
Improving demand and slowing supply pushed the national vacancy rate down 35 basis points quarter over quarter to 8.9%, its first move below 9% since 2024. On a trailing four-quarter basis, absorption of approximately 362,000 units exceeded deliveries of about 358,000 units for the first time since early 2022, indicating vacancy is likely to have passed its cyclical peak. The recovery was particularly pronounced in previously overbuilt markets: Austin; Charleston, SC; Savannah, GA; Huntsville, AL; Salt Lake City, UT, and Colorado Springs recorded some of the largest quarterly vacancy declines.
Rent growth remains modest but is beginning to improve. National asking rents reached approximately $1,945 per month, up 1.5% year over year, compared with 1.1% growth in the first quarter. The Bay Area led the recovery, with San Francisco rents rising 13%, San Jose 7% and the East Bay 4.8%. Norfolk, VA; Toledo; Reno, NV, and Boise, ID, also posted strong gains.
High-supply markets remained softer, with rents still declining in Austin and Sarasota, FL, although the pace of those declines moderated as excess supply was absorbed. Overall, the market appears to be shifting from stabilization into an occupancy-led recovery, with broader rent growth likely as the construction pipeline continues to shrink.
Factors to Consider Ahead of ESS' Upcoming ResultsEssex’s Q2 2026 results are likely to benefit from peak-season leasing, high occupancy and limited new supply. The company entered the quarter with April occupancy at 96.4% and blended lease growth above 3%.
Northern California should remain the main growth driver, supported by tech activity, AI expansion and improving migration. Seattle also showed better momentum as lease rates turned positive in March and April. Southern California is likely to remain mixed.
Overall, the second quarter should show improving rent growth and stable occupancy, partly offset by higher expenses from delayed projects.
Projections for ESS' Q2 ResultsThe Zacks Consensus Estimate of $486.85 million for second-quarter revenues calls for a 3.62% increase year over year. The consensus estimate for same-property revenues is pegged at $445.99 million, up from $410.95 million in the year-ago period. The consensus mark for same-property financial occupancies is currently pegged at 96.20%, on par with the prior quarter.
For second-quarter 2026, Essex Property projected core FFO per share in the range of $3.92-$4.04 per share, with a midpoint of $3.98.
Before the second-quarter earnings release, Essex Property’s activities were inadequate to gain analysts’ confidence. The Zacks Consensus Estimate for the quarterly core FFO per share was revised southward in the past week to $4.03. It indicates no change year over year.
What Our Quantitative Model Predicts for ESS StockOur proven model predicts a surprise in terms of core FFO per share for Essex Property this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an FFO beat, which is the case here.
Essex Property currently carries a Zacks Rank of 3 and has an Earnings ESP of +0.54%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Other Stocks That Warrant a LookHere are two other stocks from the broader REIT sector — Digital Realty Trust (DLR - Free Report) and Cousins Properties (CUZ - Free Report) — you may want to consider, as our model shows that these also have the right combination of elements to report an FFO beat this quarter.
Digital Realty is slated to report quarterly numbers on July 23. DLR has an Earnings ESP of +2.30% and a Zacks Rank of 3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Cousins is slated to report quarterly numbers on July 30. CUZ has an Earnings ESP of +0.45% and a Zacks Rank of 3 at present.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.
Lucid Group (LCID) shares fell about 7% in Thursday morning trading as investors weighed growing legal scrutiny and a fresh Wall Street downgrade.Several law fi
New York, New York--(Newsfile Corp. - July 23, 2026) - Kaplan Fox & Kilsheimer LLP announces that a class action lawsuit has been filed against Lucid Group, Inc. ("Lucid" or the "Company") (NASDAQ: LCID) on behalf of investors that purchased or otherwise acquired Lucid Group securities between February 25, 2026 and April 13, 2026 (the "Class Period").
CLICK HERE TO JOIN THE CASE
If you are an investor in Lucid and have suffered losses, you may CLICK HERE to contact us. You may also contact Kaplan Fox by emailing [email protected] or by calling (646) 315-9003.
DEADLINE REMINDER: If you are a member of the proposed Class, you may move the court no later than July 28, 2026 to serve as a lead plaintiff for the purported class. If you have losses we encourage you to contact us to learn more about the lead plaintiff process. You need not seek to become a lead plaintiff in order to share in any possible recovery.
On Friday April 3, 2026, at the close of the market, Lucid issued in a press release stating that the Company "produced 5,500 vehicles" during the first quarter of 2026, while only "deliver[ing] 3,093 vehicles." The press release further stated that "[d]uring the quarter, deliveries of the Lucid Gravity were disrupted for 29 days due to a supplier quality issue with the second-row seats" and, "[a]s result of this, the [C]ompany's ability to meet customer demand was impacted." That same day, Reuters published an article entitled "Lucid misses first-quarter vehicle delivery estimates on supplier disruptions." According to the article Chief Executive Officer Marc Winterhoff, said "[d]eliveries were particularly hit in February" when the Company "paused to reverse the change and inspect vehicles already produced."
In the first two trading sessions following the news, the price of Lucid shares declined by $1.13 per share, or 11.35%, to close at $8.83 per share on April 7, 2026.
Then, on April 14, 2026, Lucid announced preliminary first quarter 2026 financial results, including revenue in the range of $280 million to $284 million, well below the consensus estimate of $433.8 million according to the complaint, and loss from operations in the range of $985 million to $1.005 billion.
Following this news, the price of Lucid stock fell $0.44 per share, or 4.76%, to close at $8.80 per share on April 14, 2026.
The complaint alleges, among other things, that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (i) a supplier quality issue had significantly disrupted deliveries of the Lucid Gravity; (ii) the foregoing was likely to, and did, have a material negative impact on the Company's business and financial results; (iii) accordingly, the Defendants had overstated the purported enhancements to Lucid's manufacturing and delivery capabilities and overall operations; and (iv) as a result, Defendants' public statements were materially false and misleading at all relevant times.
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Kaplan Fox & Kilsheimer LLP is a nationally recognized law firm focused on complex litigation, with offices in New York, Oakland, Los Angeles, Chicago, and New Jersey. Founded in 1956, the firm has spent more than 50 years prosecuting securities, antitrust, and consumer protection actions in federal and state courts nationwide, recovering more than $10 billion for clients and the classes it has represented.
Kaplan Fox is widely regarded as one of the nation's premier plaintiffs' securities litigation firms and has received recognition from Chambers and Partners, Benchmark Litigation, Super Lawyers, and Lawdragon. Serving as lead or co-lead counsel in many landmark cases, the firm has secured some of the largest recoveries in the history of securities litigation, including a $2.425 billion recovery on behalf of Bank of America shareholders in In re Bank of America—the largest recovery ever obtained for claims under Section 14(a) of the Securities Exchange Act—$800 million recovered for the Arkansas Teacher Retirement System and other pension funds in ATRS v. Allianz Global Investors, and a $475 million settlement in In re Merrill Lynch.
For decades, Kaplan Fox has represented public pension funds, institutional investors, businesses, and individuals in high-stakes litigation. Through its successful advocacy and precedent-setting victories, the firm has helped shape important areas of securities and corporate law while advancing accountability and protecting investor interests.
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VANCOUVER, Wash.--(BUSINESS WIRE)--ZoomInfo (NASDAQ: GTM), the all-in-one AI GTM Platform, has confirmed a new analysis showing Jersey Mike's franchise system consolidating into the hands of large, multi-unit operators ahead of the sandwich chain's planned initial public offering. ZoomInfo's proprietary franchise dataset maps ownership across more than 600,000 United States franchise locations spanning 3,000-plus brands, resolving each one to its operating owner and the decision-makers inside i.
Southwest Airlines (LUV - Free Report) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #2 (Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.
The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.
The power of a changing earnings picture in determining near-term stock price movements makes the Zacks rating system highly useful for individual investors, since it can be difficult to make decisions based on rating upgrades by Wall Street analysts. These are mostly driven by subjective factors that are hard to see and measure in real time.
Therefore, the Zacks rating upgrade for Southwest basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price.
Most Powerful Force Impacting Stock PricesThe change in a company's future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. That's partly because of the influence of institutional investors that use earnings and earnings estimates for calculating the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their transaction of large amounts of shares then leads to price movement for the stock.
Fundamentally speaking, rising earnings estimates and the consequent rating upgrade for Southwest imply an improvement in the company's underlying business. Investors should show their appreciation for this improving business trend by pushing the stock higher.
Harnessing the Power of Earnings Estimate RevisionsEmpirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, so it could be truly rewarding if such revisions are tracked for making an investment decision. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.
The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>> .
Earnings Estimate Revisions for SouthwestThis airline is expected to earn $3.23 per share for the fiscal year ending December 2026, which represents no year-over-year change.
Analysts have been steadily raising their estimates for Southwest. Over the past three months, the Zacks Consensus Estimate for the company has increased 10.5%.
Bottom LineUnlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of "buy" and "sell" ratings for its entire universe of more than 4,000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a "Strong Buy" rating and the next 15% get a "Buy" rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.
You can learn more about the Zacks Rank here >>>
The upgrade of Southwest to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
Key Takeaways Southwest Airlines' Q2 adjusted EPS rose 118.6% and beat estimates by 80.8% on record revenue.Average fares climbed 20.9% as managed business revenue hit a record and unit revenue jumped 20.1%.LUV sees Q3 EPS of 50-75 cents, with unit revenue up 17.5-19.5% and capacity down 1% to flat. Southwest Airlines Co. (LUV - Free Report) reported second-quarter 2026 adjusted earnings of 94 cents per share, up 118.6% year over year and 80.8% above the Zacks Consensus Estimate of 52 cents. Record operating revenues of $8.43 billion rose 16.4% but missed the consensus mark of $8.58 billion by 1.7%.
Results benefited from demand for enhanced products, record managed business revenues and cost discipline despite an $889 million increase in fuel expense. Adjusted unit revenues jumped 20.1%, while adjusted operating margin expanded 3.3 points to 6.7%.
LUV's Passenger Revenues Power Top-Line GrowthPassenger revenues, which accounted for 91.9% of the top line, increased 16.9% year over year to $7.75 billion. The improvement reflected higher fares and strong customer response to Southwest Airlines’ expanded commercial offerings.
Freight revenues rose 13.6% to $50 million. Other operating revenues increased 11.2% to $637 million, providing another source of growth beyond ticket sales.
Southwest Airlines Posts Stronger Revenue ProductivityRevenue passenger miles, a measure of traffic, increased 1.2% year over year to 37.35 billion. Capacity, measured in available seat miles, edged up only 0.2% to 47.09 billion, allowing demand growth to outpace supply.
The load factor improved 0.8 percentage points to 79.3%. Average passenger fare climbed 20.9% to $225.61, while passenger revenue per available seat mile advanced 16.7% to 16.45 cents. Revenue passengers carried declined 3.3% to 34.3 million.
LUV Controls Non-Fuel Costs as Fuel Expense SurgesTotal operating expenses increased 16.1% year over year to $8.15 billion. Aircraft fuel and related taxes surged 67% to $2.22 billion, representing the largest cost headwind during the quarter.
Fuel cost per gallon increased 69% to $3.92. Still, cost per available seat mile, excluding fuel, special items and profit sharing, rose a more moderate 3.4% to 12.45 cents, coming in below the company’s prior guidance.
Adjusted operating income climbed 138.8% to $585 million. Reported operating income increased 26.7% to $285 million despite the sharp rise in fuel costs.
Southwest Airlines' Commercial Initiatives Gain TractionManaged business revenues reached a quarterly record and increased 30% year over year. The performance highlighted stronger demand from corporate customers and broadened the company’s revenue mix.
Rapid Rewards enrollment rose 35%, while the loyalty program reached nearly 100 million members and posted record tier qualifiers. Acquisitions for the Chase co-branded credit card accelerated 28%, with double-digit growth in every month of the quarter.
Southwest Airlines also completed service rollouts to five new destinations and added Air Premia as its ninth airline partner. The carrier operated its first aircraft equipped with Starlink connectivity during the quarter.
LUV Generates Higher Operating Cash FlowSouthwest Airlines ended June with cash and cash equivalents of $3.79 billion, up from $3.23 billion at the end of 2025. Total liquidity was $5.3 billion, including a $1.5 billion revolving credit facility.
Net cash provided by operating activities rose to $530 million from $401 million a year earlier. Capital expenditures totaled $818 million, while proceeds from property and equipment sales reached $258 million.
The company paid $88 million in dividends during the quarter. It ended the period with $3.79 billion of long-term debt, excluding current maturities, and reported gross leverage of 2.1 times.
Southwest Airlines Issues Q3 and 2026 GuidanceFor third-quarter 2026, Southwest Airlines expects adjusted earnings of 50-75 cents per share. The Zacks Consensus Estimate is pegged at 77 cents per share. Capacity is projected to decline 1% to remain flat, while unit revenues are forecasted to increase 17.5-19.5% year over year.
Third-quarter cost per available seat mile, excluding fuel, special items and profit sharing, is expected to rise 3.5-4%. Fuel cost per gallon is projected to be between $3.70 and $3.75.
For 2026, management expects adjusted earnings of $3.25-$4.25 per share, replacing its prior expectation of at least $4. The Zacks Consensus Estimate is currently pegged at $3.23. Capacity growth is now forecasted to be roughly 1.5%, down from 2%. Net capital spending is expected near the low end of, or below, the previously announced $3-$3.5 billion range.
Currently, LUV carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Q2 Performances of Other Transportation CompaniesDelta Air Lines (DAL - Free Report) reported second-quarter 2026 earnings (excluding 88 cents from non-recurring items) of $1.56 per share, beating the Zacks Consensus Estimate of $1.51. Earnings declined in double digits (% wise) from a year ago as sharply higher fuel costs pressured profitability.
Revenues rose on a year-over-year basis to $17.67 billion but missed the consensus estimate of $17.76 billion. Broad demand strength lifted adjusted total revenue per available seat mile, or TRASM, 12.4%, while premium and diversified revenue streams continued to expand.
United Airlines Holdings, Inc. (UAL - Free Report) reported second-quarter 2026 adjusted earnings of $1.99 per share, down 48.6% year over year but above the Zacks Consensus Estimate of $1.92 by 3.7%.
Operating revenues rose 16% to $17.67 billion and were essentially in line with the $17.68-billion consensus mark. A 12.1% increase in total revenue per available seat mile, or TRASM, and broad-based gains across premium, loyalty and cargo revenues supported the top line despite sharply higher fuel costs.
J.B. Hunt Transport Services, Inc. (JBHT - Free Report) reported second-quarter 2026 earnings of $1.91 per share, up 45.8% from $1.31 a year ago. The figure beat the Zacks Consensus Estimate of $1.71 by 11.7%.
Operating revenues climbed 19.4% year over year to $3.50 billion and surpassed the consensus mark of $3.19 billion by 9.5%. Higher volumes and pricing across several businesses supported growth, led by a 10% increase in Intermodal loads.
Key Takeaways CSX beat Q2 estimates with EPS of 54 cents and revenues of $3.94B, up 22.7% and 10.1% year over year. CSX growth was driven by higher fuel surcharge revenues & pricing gains across segments. CSX raised its 2026 outlook, with mid to high single-digit revenue growth & operating margin expansion. CSX Corporation (CSX - Free Report) reported impressive second-quarter 2026 results, wherein both earnings and revenues surpassed the Zacks Consensus Estimate.
Quarterly earnings per share (EPS) of 54 cents surpassed the Zacks Consensus Estimate of 50 cents and increased 22.7% on a year-over-year basis.
Total revenues of $3.94 billion beat the Zacks Consensus Estimate of $3.82 billion. The top line increased 10.1% year over year, driven by higher fuel surcharge revenues, volume growth and pricing across merchandise, intermodal and coal. These were partially offset by a decrease in export coal revenues, including the impact of lower benchmark rates.
Second-quarter operating income increased 17% year over year to $1.51 billion. Total expenses increased 6% year over year. CSX’s operating margin expanded to 38.3% during the March quarter from 35.9% in the year-ago quarter. Total volumes inched up 6% year over year, boosted by 9% growth in intermodal volumes.
Q1 Segmental Performance of CSXMerchandise revenues grew 8.4% year over year to $2.45 billion (above our estimate of $2.33 billion) in the reported quarter. Merchandise volumes rose 4% year over year to $670 million. Segmental revenues per unit inched up 4% year over year.
Intermodal revenues increased 26% year over year to $620 million (above our estimate of $547.1 million). Segmental volumes increased 9%, while revenues per unit rose 16% year over year.
Coal revenues improved 9% year over year to $520 million in the reported quarter (above our estimate of $506.7 million). Coal volumes inched up 4% year over year, while segmental revenues per unit increased 4% year over year.
Trucking revenues totaled $226 million (above our estimate of $190.6 million) and rose 7% year over year. Other revenues fell 11% year over year to $123 million in the reported quarter.
CSX’s LiquidityCSX exited the second quarter of 2026 with cash and cash equivalents of $1 billion compared with $670 million at the end of the fourth quarter of 2025. Long-term debt of $17.16 billion compared with $18.17 at the quarter end of 2025.
CSX's 2026 Guidance For 2026, CSX now expects mid-to high single-digit revenue growth (including fuel, based on the current forward curve for diesel) compared with its prior guidance of mid-single digit revenue growth.
Operating margin expansion is now anticipated to exceed 350 basis points compared with the previous expectation of around the higher end of the 200-300 basis points range.
Free cash flow is now anticipated to increase more than 80% compared with the prior expectation of growth of more than 60%.
For the full-year 2026, CSX continues to expect capital expenditures to be below $2.4 billion.
Currently, CSX carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Q2 Performances of Other Transportation CompaniesWestinghouse Air Brake Technologies (WAB - Free Report) , operating as Wabtec Corporation, reported encouraging second-quarter 2026 results, wherein both earnings and revenues surpassed the Zacks Consensus Estimate and increased year over year.
Quarterly adjusted earnings of $2.76 per share beat the Zacks Consensus Estimate of $2.63 by 4.9% and increased 21.6% year over year, owing to higher sales and operating margin expansion.
Revenues climbed 17.5% to $3.18 billion and surpassed the consensus mark of $3.08 billion by 3.2%.
United Airlines Holdings, Inc. (UAL - Free Report) reported second-quarter 2026 adjusted earnings of $1.99 per share, down 48.6% year over year but above the Zacks Consensus Estimate of $1.92 by 3.7%.
Operating revenues rose 16% to $17.67 billion and were essentially in line with the $17.68 billion consensus mark. A 12.1% increase in total revenues per available seat mile or TRASM, and broad-based gains across premium, loyalty and cargo revenues, supported the top line despite sharply higher fuel costs.
J.B. Hunt Transport Services, Inc. (JBHT - Free Report) reported second-quarter 2026 earnings of $1.91 per share, up 45.8% from $1.31 a year ago. The figure beat the Zacks Consensus Estimate of $1.71 by 11.7%.
Operating revenues climbed 19.4% year over year to $3.50 billion and surpassed the consensus mark of $3.19 billion by 9.5%. Higher volumes and pricing across several businesses supported growth, led by a 10% increase in Intermodal loads.
New York, New York--(Newsfile Corp. - July 23, 2026) - Bronstein, Gewirtz & Grossman, LLC, a nationally recognized investor-rights law firm, announces that a class action lawsuit has been filed against Zoetis Inc. (NYSE: ZTS) and certain of its officers.
This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Zoetis securities between January 14, 2025 and May 6, 2026, both dates inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: bgandg.com/ZTS.
Zoetis Case Details
The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements concerning the growth, competitive positioning, market share, and veterinarian adoption of key products within the Companion Animal segment while failing to disclose that:
veterinarian prescription growth and adoption of Zoetis' Librela, a canine pain treatment, were sharply weakening as clinicians became more cautious following FDA safety warnings concerning serious neurological complications in dogs; Zoetis' Simparica Trio was losing significant market share to a lower-priced competing canine parasiticide with broader indicated use in a slowing overall market; and Zoetis' dermatology products, Apoquel and Cytopoint, were losing substantial market share to a newly launched competing canine treatment.What's Next for Zoetis Investors?
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm's site: bgandg.com/ZTS, or you may contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC at 917-590-0911. If you suffered a loss in Zoetis you have until July 27, 2026, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as lead plaintiff.
No Cost to Zoetis Investors
We, Bronstein, Gewirtz & Grossman LLC, represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys' fees, usually a percentage of the total recovery, only if we are successful.
Why Bronstein, Gewirtz & Grossman, LLC for Zoetis Securities Class Action?
Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide. More at www.bgandg.com
"Our practice centers on restoring investor capital and ensuring corporate accountability, which serves to uphold the essential integrity of the marketplace," said Peretz Bronstein, Founding Partner of Bronstein, Gewirtz & Grossman, LLC.
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Prior results do not guarantee similar outcomes.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/299406
Source: Bronstein, Gewirtz & Grossman, LLC
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Monday.com has just become the latest company to lay off its employees in favor of AI.
On Wednesday, July 22, the work management software firm announced that it will lay off about 20% of its workforce, or just over 600 employees.
The news came through a filing with the Securities and Exchange Commission (SEC) in which the Tel Aviv-based company said it had “initiated a restructuring plan.”
In the SEC filing, Monday.com stated: “The Plan reflects the Company’s ongoing transformation of its product, marketing, and go-to market strategy and is intended to support a leaner, more focused operating model as the Company continues to invest in its AI-driven growth strategy.”
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Yes, those 20% of employees losing their jobs have been replaced by AI growth. It is perhaps not surprising for a company that announced a platform-wide AI shift a year ago and now self-identifies as an “AI work platform,” but it’s still disheartening.
Monday.com has offices in New York and Denver, in addition to cities in Europe, Australia, South America, and Asia. Fast Company has reached out to Monday.com for more information on where the impacted jobs are located. We will update this post if we hear back.
Monday.com estimates it will face $45 million to $55 million in net charges as a result of the new plan, but expects to maintain or improve on its predicted 19% to 20% year-over-year (YOY) revenue growth for 2026.
Stephen Schwarzman, CEO and Co-Founder of Blackstone Group, attends the 55th annual World Economic Forum (WEF) meeting in Davos, Switzerland, January 23, 2025. REUTERS/Yves Herman/File Photo Purchase Licensing Rights, opens new tab
CompaniesNEW YORK, July 23 (Reuters) - Blackstone (BX.N), opens new tab is working to address the societal and environmental implications of artificial intelligence development, CEO Stephen Schwarzman said on Thursday, as opposition to data center construction mounts in the U.S.
Blackstone, opens new tab and other private capital firms are pouring tens of billions of dollars into businesses and infrastructure that aim to increase compute capacity and run power-hungry models.
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But the otherwise deeply divided American electorate is united across party lines when confronted by the pace of data center construction, and only 14% would support one being built in their community for technology firms, according to a June Reuters/Ipsos poll.
Blackstone is working closely with portfolio companies including data-center businesses "to address the workforce, environmental and community implications of development through the creation of union jobs, workforce training, water-free cooling systems, expanded power generation and significant local economic investment," Schwarzman said on a conference call.
While the impact of AI could echo the industrial revolution, which eventually raised living standards, Schwarzman said, "Major change of this type also creates anxiety due to the uncertainty of how the technology will evolve."
Data-center operator QTS, which Blackstone took private for $10 billion in 2021, said earlier this month that it had terminated a project in Virginia after years of planning. The project had faced strong local opposition and litigation, despite being approved by county authorities.
U.S. President Donald Trump's administration sees AI development as a race against China, but is also working to shield households from an attendant rise in energy costs.
Schwarzman, a longtime Trump donor, said he had personally been "spending a lot of time with leaders in the industry and various policymakers thinking about how to address these critical issues, while also preserving the advance of America's AI leadership."
Reporting by Isla Binnie; Editing by Nia Williams
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Isla Binnie reports on how company directors and executives manage stakeholder and shareholder interests, with a focus on compensation, corporate crises, dealmaking and succession. She also covers how politics, regulation, environmental issues and the broader economy affect boardroom discussions. Isla previously covered business, politics and general news in Spain and Italy. She trained with Reuters in London and covered emerging markets debt for the International Financing Review (IFR).
Basil writes stories across the U.S. finance file including banks, asset managers, payment firms, insurers, and exchange operators. He also covers initial public offerings on U.S. exchanges and venture capital funding.
AI Consolidation Begins: Blackstone & Google Forge an AI EmpireBlackstone NYSE: BX reported sharply higher second-quarter 2026 earnings as executives said the firm’s early and aggressive positioning around artificial intelligence infrastructure is driving investment performance, fundraising and new business formation across the platform.
Weston Tucker, Blackstone’s Head of Shareholder Relations, said the firm reported GAAP net income of $2.4 billion for the quarter. Distributable earnings were $2 billion, or $1.52 per common share, and Blackstone declared a dividend of $1.29 per share, payable to holders of record as of August 3.
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As Broadcom Eclipses $2 Trillion, Private Credit Giants Wants InChairman and CEO Steve Schwarzman said distributable earnings rose 26% year-over-year, while fee-related earnings increased 22% and net realizations rose 27%. Total inflows reached nearly $70 billion in the quarter and more than $260 billion over the last 12 months, bringing assets under management to a record $1.35 trillion, up 11% from a year earlier.
AI Infrastructure Remains Central to Blackstone’s Strategy Schwarzman said the largest driver of Blackstone’s recent momentum has been its investments in AI-related areas, including data centers, energy and power, and private AI companies. He said Blackstone has become “one of the largest private capital providers in the AI ecosystem,” giving investors access to opportunities that often cannot be replicated in public markets.
Sony's $4 Billion Bet on Rock & Roll RoyaltiesDuring the quarter, Schwarzman highlighted four AI-related initiatives. Blackstone teamed with Google to build a new AI cloud provider using Google’s TPU chips, with an initial investment of up to $5 billion. The firm also partnered with Anthropic to form a company focused on enterprise adoption of AI-powered solutions. In credit, Blackstone joined Broadcom and another manager to create a financing platform to support Broadcom’s deployment of large-scale AI compute for end customers, providing $35 billion initially for 1 gigawatt of compute. The company also launched BXDC, a Blackstone REIT designed to acquire stabilized, newly built data centers, in a $2 billion offering that Schwarzman described as the largest blind-pool REIT IPO in history.
Blackstone’s data center platform has grown to $185 billion of total value, including facilities under construction, up from $130 billion at the start of the year. Schwarzman said the firm expects to lease more than three times as much capacity this year as in any prior year in its history. He also said the platform could double over the next few years if Blackstone executes on its pipeline.
Executives acknowledged risks around AI. Schwarzman said Blackstone is mindful of “excessive exuberance” and is focusing on risk-adjusted returns and downside protection. He also discussed workforce, environmental and community considerations tied to data center development, including union jobs, workforce training, water-free cooling systems and expanded power generation.
Fundraising Broad-Based Across Institutions, Insurance and Wealth President and COO Jon Gray said Blackstone’s clients are responding to performance with strong inflows across institutions, insurance companies and individual investors, which he called the firm’s “three I’s.”
In infrastructure, Gray said AUM grew 40% year-over-year to $90 billion, supported by investments in digital and energy infrastructure. He said the commingled BIP strategy has generated an 18% net annual return since inception.
Gray also said Blackstone’s Multi-Asset Investing business, BXMA, reached a record $109 billion of AUM, up 21% year-over-year, and delivered 25 consecutive quarters of positive returns for its largest strategy. After the quarter ended, BXMA recorded $4.8 billion of monthly inflows on July 1, which Gray said was its best single month of fundraising.
In institutional drawdown funds, Gray said three strategies reached their hard caps so far in 2026: opportunistic private credit, life sciences and Asia private equity. He said Blackstone expects its new private equity energy transition flagship to reach its hard cap soon as well. Together, those four strategies represent nearly $40 billion.
Blackstone’s Asia private equity flagship closed at $13.1 billion in the quarter, more than double the prior vintage, backed by a 27% net annual return in the previous fund since inception. Gray said Blackstone’s focus on India and Japan has been a key driver of that performance.
Credit and Insurance Platforms Continue to Expand Gray said Blackstone’s combined corporate and real estate credit platform grew to nearly $550 billion, up 13% year-over-year, with $33 billion of inflows in the quarter. Credit represented nearly half of total firm inflows.
He said Blackstone is benefiting from a secular shift toward investment-grade private credit, particularly in insurance. Insurance AUM reached $290 billion, up 15% year-over-year. Gray highlighted a new partnership with Nippon Life, Japan’s largest life insurer, under which Blackstone expects to deploy approximately $10 billion in private credit over the next several years and invest in Nippon Life’s domestic real estate portfolio.
During the question-and-answer session, Gray said insurers are increasingly using private investment-grade credit to compete, because it can provide higher returns at similar or higher ratings levels. He said Blackstone now has 40 clients in its dedicated insurance solutions area, nearly double the number from two years ago, and emphasized that the firm operates with an open architecture model without taking on insurance liabilities.
Private Wealth Growth Offsets BCRED Redemptions Blackstone’s private wealth AUM grew 16% year-over-year to a record $324 billion. Gray said total sales were $8.6 billion in the quarter, with slower activity in April and May amid geopolitical concerns but a strong recovery in June that continued into the third quarter.
BXPE raised $2.4 billion in the quarter, bringing its NAV to more than $25 billion after 10 quarters. Gray said its largest share class has produced a 20% net annualized return since inception, including approximately 8% net in the second quarter. BXINFRA raised about $900 million, bringing its NAV to $6 billion after six quarters.
BREIT raised $1.2 billion, while repurchase requests declined 42% year-over-year and 33% sequentially from the first quarter. Gray said that produced the vehicle’s best “regular way” net flows in nearly four years, adding that BREIT is “clearly back in growth mode.”
BCRED saw $1 billion of gross sales, but repurchase requests exceeded its 5% limit, with roughly 50% fulfilled, leading to net outflows of $1.2 billion. Gray said early third-quarter redemption requests were down materially and attributed the improvement partly to a reduction in negative market commentary around private credit.
Executives Point to IPO Market and Realizations CFO Michael Chae said fee-related earnings rose 22% year-over-year to $1.8 billion, or $1.43 per share. Fee revenues increased 22% to $3 billion, with growth across all four segments: private equity, real estate, BXMA and credit. Transaction and advisory fees nearly doubled year-over-year to a record $321 million.
Chae said net realizations were $414 million, up 27% year-over-year, helped by dispositions including a data center sale and multiple energy portfolio realizations. He said Blackstone’s net accrued performance revenue stood at $7.5 billion, or $6 per share, the highest level in four years.
Executives said the IPO market has strengthened. Gray noted that U.S. IPO activity increased sixfold in the first half of 2026 compared with the same period last year, while global issuance rose more than three-and-a-half-fold. Blackstone has executed three IPOs since May and has eight IPOs on file globally.
Chae said Blackstone expects net realizations to slow sequentially in the third quarter but anticipates a robust fourth quarter and 2027. He also said the firm expects base management fee growth to return to double digits in 2027, supported by drawdowns in private equity funds, growth in perpetual strategies, credit deployment and stabilization in real estate fee trends.
About Blackstone (NYSE:BX)Blackstone Inc NYSE: BX is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.
Blackstone's business is organized around several principal investment platforms.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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Key Takeaways CAKE may see Q2 gains from openings, menu innovation and stronger digital engagement.BJRI may benefit from traffic momentum, meal deals, menu additions and digital marketing efficiency.CMG's Q2 performance may gain from expansion, Rewards, technology and new menu offerings. The second-quarter 2026 earnings season for U.S. restaurant operators began this week, with Domino's Pizza, Inc. (DPZ - Free Report) reporting mixed results. Several prominent restaurant operators are scheduled to release results over the next few weeks.
The latest Earnings Trend report suggests that the Zacks Retail-Wholesale sector’s second-quarter earnings are expected to increase by 9.1% from the year-ago period’s reported figure. The previous quarter recorded a 9.8% increase. The sector’s revenues are projected to increase 6.6% compared with 4.1% reported in the previous quarter.
We have identified — with the help of the Zacks Stock Screener — a few restaurant players that are set to outshine the Zacks Consensus Estimate this earnings season. These include The Cheesecake Factory Incorporated (CAKE - Free Report) , BJ's Restaurants, Inc. (BJRI - Free Report) and Chipotle Mexican Grill, Inc. (CMG - Free Report) .
Before we discuss the companies, let us examine the factors likely to have shaped the restaurant industry’s second-quarter performance.
Factors At PlayThe U.S. restaurant industry is likely to have faced an uneven operating environment in the second quarter of 2026. A volatile macroeconomic backdrop, geopolitical uncertainty and heightened competition are likely to have weighed on the respective company’s second-quarter performance. Elevated gas prices may have constrained consumers’ discretionary budgets, while affordability pressures remained particularly pronounced among lower-income consumers.
Elevated operating expenses are likely to have constrained profitability in the second quarter. Per the National Restaurant Association, total expenses for an average restaurant are projected to be 36% higher in 2026 than in 2019, with average hourly earnings and wholesale food prices up 41% and 35%, respectively, from pre-pandemic levels. Limited pricing flexibility, greater reliance on value promotions and elevated beef, pork, produce and seafood costs are likely to have weighed on restaurant-level margins.
Restaurant companies’ emphasis on meal deals, loyalty offers and digital promotions is likely to have supported transactions during the quarter under review. Heightened international travel and the FIFA World Cup likely increased restaurant spending in select urban and destination markets. Meanwhile, broader GLP-1 adoption may have shifted ordering preferences toward smaller portions and protein-focused offerings without materially weakening restaurant engagement.
Restaurant spending is likely to have remained resilient in nominal terms. Per the report, eating and drinking place sales reached a seasonally adjusted $102.5 billion in June, up slightly from $102.4 billion in May and marking the fourth monthly increase in five months. Inflation-adjusted sales rose 0.4% year over year and remained relatively flat in recent months. Restaurant companies with compelling value offerings, strong digital ecosystems, effective cost controls and flexible menus are likely to have been better positioned during the quarter.
How to Make the Right Pick?Given the wide range of companies in this space, the task is by no means easy. While it is impossible to be sure of the outperformers, our proprietary methodology — a positive Earnings ESP, along with a favorable Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) — makes it relatively simple. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP is our proprietary methodology for identifying stocks with high chances of delivering a surprise in their upcoming earnings announcements. It shows the percentage difference between the Most Accurate Estimate and the Zacks Consensus Estimate. Our research shows that for stocks with the abovementioned combination, chances of a positive earnings surprise are as high as 70%.
Our ChoicesHere we discuss in detail the three abovementioned restaurant companies that are likely to beat estimates this time around.
Cheesecake Factory is scheduled to report second-quarter fiscal 2026 results on July 28. CAKE has an Earnings ESP of +2.76% and currently carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
CAKE’s second-quarter results are likely to have benefited from new restaurant openings, menu innovation and stronger digital engagement. The rollout of its mobile app and more personalized Rewards offers is likely to have supported ordering frequency and customer acquisition, while solid momentum at Flower Child and disciplined restaurant execution may have aided sales and profitability. However, low-to-mid-single-digit commodity and labor inflation, higher marketing expenses and continued softness at North Italia are likely to have constrained margin expansion.
The Zacks Consensus Estimate for CAKE’s fiscal second-quarter earnings per share (EPS) and revenues is pegged at $1.17 and $997.8 million, respectively. EPS estimates for the fiscal second quarter increased 2.6% in the past 60 days. CAKE has surpassed earnings estimates in each of the trailing four quarters.
BJ's Restaurants is slated to report second-quarter 2026 results on July 30. BJRI currently has an Earnings ESP of +7.51% and a Zacks Rank #2.
BJ’s Restaurants’ second-quarter results are likely to have benefited from sustained traffic momentum, strong performance during the celebration season and increased marketing support. The Pizookie Meal Deal, seasonal Pizookies, enhanced pizza offerings and the premium Wagyu burger are likely to have supported guest frequency, menu mix and brand relevance, particularly among younger consumers. Continued improvements in restaurant execution, guest satisfaction and digital marketing efficiency are likely to have aided the company's performance in the to-be-reported quarter.
The Zacks Consensus Estimate for BJRI’s to-be-reported quarter’s EPS and revenues is pegged at 87 cents and $374.6 million, respectively. EPS estimates for the second quarter increased 1.2% in the past 60 days. BJRI has surpassed earnings estimates in three of the trailing four quarters and missed once.
Chipotle is scheduled to report second-quarter 2026 results on July 29. CMG currently has an Earnings ESP of +0.84% and a Zacks Rank #3.
Chipotle's second-quarter performance is likely to have benefited from restaurant expansion, menu innovation, stronger Rewards engagement and operational technology investments. The continued rollout of Chipotlanes, Chipotle Honey Chicken and Cilantro Lime Sauce, along with enhanced digital features, is likely to have supported transactions, customer frequency and sales mix. High-efficiency kitchen equipment and the Chipotle Kitchen digital make-line system may also have improved throughput, order accuracy and service execution. However, mid-single-digit food-cost inflation, particularly for avocados, dairy and beef, along with wage pressure and cautious consumer spending, is likely to have constrained restaurant-level margins.
The Zacks Consensus Estimate for Chipotle's to-be-reported quarter’s EPS and revenues is pegged at 32 cents and $3.32 billion, respectively. EPS estimates for the second quarter have remained unchanged in the past 60 days. CMG surpassed earnings estimates in each of the trailing four quarters.
Key Takeaways Nasdaq's Q2 earnings rose 25% as revenues gained 15%, beating estimates on broad-based growth.Index revenues surged 38%, while Financial Technology revenues climbed 16% and ARR rose 16%.Market Services hit record revenues, while margins expanded 200 basis points to 57%. Nasdaq, Inc. (NDAQ - Free Report) reported second-quarter 2026 non-GAAP earnings of $1.07 per share, up 25% year over year. The figure beat the Zacks Consensus Estimate of 98 cents by 9.18%.
Net revenues increased 15% to $1.5 billion and topped the consensus estimate of $1.4 billion by 3.87%. Growth was broad-based across all three divisions. Annualized recurring revenues rose 11% to $3.3 billion and organic ARR growth reached 12%.
NDAQ Solutions Revenues Gain MomentumSolutions revenues advanced 17% year over year to $1.16 billion, representing 77% of net revenues. The increase reflected strength across Capital Access Platforms and Financial Technology, with adjusted and organic growth also coming in at 17%.
Annualized SaaS revenues reached $1.23 billion, up 12% on a reported basis and 15% organically. SaaS represented 38% of annualized recurring revenues, underscoring the rising contribution from subscription-based offerings. The recurring mix also provided a steadier complement to transaction-sensitive market revenues.
Nasdaq Capital Access Benefits From Index StrengthCapital Access Platforms revenues climbed 19% to $621 million or 18% on an adjusted basis. Index revenues surged 38% to $271 million, or 35% after excluding a one-time contract modification benefit. Data and Listing Services revenues increased 10% to $217 million, while Workflow and Insights revenues rose 5% to $133 million.
Index exchange-traded product assets under management ended the quarter at $1.11 trillion. Net inflows totaled $51 billion in the quarter and $109 billion over the trailing 12 months. Nasdaq also launched 34 new index products and welcomed seven of the 10 largest operating-company IPOs during the period.
NDAQ Financial Technology Posts Broad-Based GrowthFinancial Technology revenues rose 16% to $539 million and increased 15% organically. Financial Crime Management Technology revenues grew 22%, Regulatory Technology gained 15%, and Capital Markets Technology advanced 15% on a reported basis. Financial Technology ARR increased 16% to $1.870 billion.
The division signed 58 new clients, seven cross-sells and 107 upsells. Nasdaq Verafin added 47 small- and medium-sized bank clients and six enterprise deals, while its Agentic AI Workforce expanded to 750 clients. Calypso also broadened its reach to more than 70 countries through new client activity.
Nasdaq Market Services Sets Revenue RecordMarket Services net revenues increased 11% to a record $340 million. U.S. equity derivatives trading revenues were $123 million, while U.S. cash equity trading revenues reached $128 million. European cash equity trading contributed $32 million, and U.S. tape plan revenues were $33 million.
Nasdaq held a 29.1% matched share in U.S. multi-listed options and a 14.7% matched share in U.S.-listed cash equities. Its share in Nordic and Baltic cash equities was 74.5%. The Closing Cross also handled record notional values during the Russell reconstitution and June Triple Witch events.
NDAQ Margins Expand as Cash Flow Supports ReturnsNon-GAAP operating income rose 19% to $859 million. The non-GAAP operating margin expanded 200 basis points to 57%, as revenue growth outpaced the 10% increase in non-GAAP operating expenses to $641 million. Higher compensation, marketing and technology investments drove the expense increase.
Cash flow from operations totaled $711 million. Nasdaq returned $174 million through dividends and $356 million through share repurchases, while repaying $162 million of debt. Cash and cash equivalents were $520 million at quarter-end, and long-term debt was $8.5 billion.
Nasdaq Raises Expense Outlook for 2026Nasdaq updated its 2026 non-GAAP operating expense guidance to a range of $2.530 billion to $2.570 billion. The revised outlook reflects higher compensation tied to revenue execution, increased marketing costs amid a stronger IPO environment and continued technology investments.
The company maintained its non-GAAP tax rate guidance in the range of 22.5% to 24.5%. Strategic activity included agreements to sell Nasdaq Fund Secondaries and acquire Dasseti, an AI-powered due diligence platform that will be integrated into eVestment. Nasdaq also advanced tokenized collateral capabilities through Calypso on the Canton Network.
Zacks RankNDAQ currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of an Industry PlayerCME Group's (CME - Free Report) second-quarter 2026 adjusted earnings of $2.99 per share beat the Zacks Consensus Estimate of $2.91 by 2.7%. The bottom line increased 1% from the year-ago quarter. Revenues of $1.70 billion surpassed the consensus estimate of $1.68 billion by 1.2% and rose 1% year over year.
Average daily volume (ADV) totaled 29.8 million contracts, representing the company's third-highest quarterly ADV.
Management expects full-year adjusted operating expenses, excluding license fees, of approximately $1.695 billion and capital expenditures, net of leasehold improvement allowances, of roughly $85 million.
Upcoming ReleasesCboe Global Markets, Inc. (CBOE - Free Report) is set to release second-quarter 2026 earnings on July 31. The Zacks Consensus Estimate for second-quarter earnings per share is pegged at $3.41, indicating an increase of 38.6% from the year-ago reported figure.
CBOE delivered an earnings surprise in each of the last four reported quarters.
Intercontinental Exchange Inc. (ICE - Free Report) is set to release second-quarter 2026 earnings on July 30. The Zacks Consensus Estimate for second-quarter earnings is pegged at $1.84 per share, indicating an increase of 1.7% from the year-ago reported figure.
ICE delivered an earnings surprise in each of the last four reported quarters.
CME Group has underperformed the S&P 500, declining nearly 12% over the past 11 months. CME delivered solid Q2 2026 results, with EPS of $2.99 and revenue of $1.71B, both of which beat analysts' expectations. Market Data revenue surged more than 20% compared to the same period a year ago.
Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering Expedia (EXPE - Free Report) , which belongs to the Zacks Leisure and Recreation Services industry.
When looking at the last two reports, this online travel company has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 24.13%, on average, in the last two quarters.
For the most recent quarter, Expedia was expected to post earnings of $1.41 per share, but it reported $1.96 per share instead, representing a surprise of 39.01%. For the previous quarter, the consensus estimate was $3.46 per share, while it actually produced $3.78 per share, a surprise of 9.25%.
Price and EPS Surprise
Thanks in part to this history, there has been a favorable change in earnings estimates for Expedia lately. In fact, the Zacks Earnings ESP (Expected Surprise Prediction) for the stock is positive, which is a great indicator of an earnings beat, particularly when combined with its solid Zacks Rank.
Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Expedia has an Earnings ESP of +7.86% at the moment, suggesting that analysts have grown bullish on its near-term earnings potential. When you combine this positive Earnings ESP with the stock's Zacks Rank #2 (Buy), it shows that another beat is possibly around the corner. The company's next earnings report is expected to be released on August 5, 2026.
When the Earnings ESP comes up negative, investors should note that this will reduce the predictive power of the metric. But, a negative value is not indicative of a stock's earnings miss.
Many companies end up beating the consensus EPS estimate, but that may not be the sole basis for their stocks moving higher. On the other hand, some stocks may hold their ground even if they end up missing the consensus estimate.
Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
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52-Week Range$69.16▼
$94.57Dividend Yield2.53%
P/E Ratio18.52
Price Target$95.45
Otis Worldwide NYSE: OTIS just gave income investors a gift wrapped in a sell-off. Shares dropped by more than 2% the day the elevator giant reported Q2 2026 earnings.
The company met expectations with adjusted earnings per share (EPS) of $1.01. Then, management trimmed its profit outlook for the second consecutive quarter.
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But look past the short-term outlook, and a different story emerges. Sales are growing, the backlog is the strongest it's been in years, and the company’s dividend keeps getting bigger.
For investors willing to separate this quarter's cost pressure from next year's payoff, Otis looks less like a broken story and more like a company in the middle of a renovation.
Otis Earnings Show Strong Sales, But Margin Pressure PersistsNet sales in the quarter climbed 7% year-over-year to $3.86 billion, with organic growth of 6%. Service, which is Otis's highest-margin, most durable business at 94% of segment operating profit, grew organic sales 9%. Modernization orders were up 24%, and the backlog was up a striking 26% on a constant currency basis. That backlog number is a leading indicator of revenue that Otis hasn't even booked yet.
That was the good news. The bad news showed up in margins. Adjusted operating profit fell to $587 million from $612 million, and adjusted operating margin contracted 180 basis points to 15.2%. Adjusted EPS, as stated earlier, came in at $1.01, down from $1.05 a year ago. New Equipment was the drag. Sales were flat, but operating profit was down 41% as new-equipment sales in China fell in the "high teens" and productivity investments bit into margins.
Why Otis Lowered Guidance Despite Solid Revenue GrowthOtis didn't touch its sales outlook. Total net sales guidance stays at $15.1B to $15.3B, still framed as "up low to mid-single digits" organically. What moved was cost: management now expects constant-currency adjusted operating profit down $45 million to $15 million for the year, versus a prior call for growth of $20M–$60M. Translate that to EPS, and 2026 guidance lands at $4.01 to $4.05, essentially flat against 2025's $4.05.
The culprit is a familiar one in this earnings season. That is, labor and material cost inflation outrunning pricing gains in the near term. The cut is also due to $20 million in spending to balance micro-pricing against customer retention, and $50 million in productivity and field-cost initiatives that management is choosing to absorb now rather than defer.
Why OTIS Still Appeals to Dividend InvestorsOtis raised its dividend by 5% this quarter and still repurchased approximately $400 million in stock. That brought year-to-date buybacks to approximately $800 million. That’s unchanged from the company’s prior guidance despite the profit cut.
Adjusted free cash flow guidance did dip slightly, to $1.5B–$1.55B from $1.6B–$1.65B, but management isn't pulling back capital return to fund the investment cycle. That should make investors comfortable that Otis is treating margin pressure as a controllable, temporary cost of building future capacity, not a sign of a deteriorating business.
The bet for income-oriented investors is straightforward: get paid a growing dividend to hold through a period where Otis is reinvesting in service quality, pricing discipline, and a backlog that's already up 26%. If modernization and repair volumes convert that backlog into revenue as planned in 2027, today's margin trough becomes tomorrow's operating leverage.
The Biggest Risks Facing OTISTwo consecutive guidance cuts on profitability is not nothing, and "flattish EPS" for a full year is a tough sell to growth investors. Labor and material cost inflation could persist longer than management expects. Also, a slowdown in its New Equipment business, particularly in China, where organic growth fell more than 20% in the first half, remains a genuine drag with no clear inflection point yet.
Otis Stock Tests Key Support After EarningsThe chart tells a story of a stock that’s still looking for a bottom. OTIS peaked near $96 in February 2026 and slid roughly 27% into a low near $70 by June, well below its 50-day SMA, which currently sits at about $72. That’s right where July 22's intraday decline stalled (high of $72.26) before reversing to close at $70.25.
The relative strength index (RSI) reading of 41, below its own 14-period average of 51, shows momentum has rolled over again after a brief attempt to reclaim the 50-day line in July. It's not oversold territory yet, but it's a stock that has repeatedly failed to hold above its 50-day average since March. This is a level bulls will want to see reclaimed and held before calling this a real turn.
OTIS chart displaying a price floor around $72, with RSI of 41.
For now, OTIS looks like a name in a basing pattern: beaten down, dividend-supported, and waiting on either a cost inflection or a technical breakout to confirm the next leg. But investors with a time horizon of over 12 months may be rewarded with growth as the company’s backlog drives future earnings.
Should You Invest $1,000 in Otis Worldwide Right Now?Before you consider Otis Worldwide, you'll want to hear this.
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The AI boom is creating opportunities across semiconductors, cloud computing, enterprise software, infrastructure, cybersecurity, and automation.
Inside this report, you’ll find 10 companies positioned to benefit as artificial intelligence moves from hype to real-world deployment and becomes a core growth driver for corporate America.
Alphabet's latest earnings report has renewed optimism for companies like Lumentum supplying optical networking and data center components, even as investors scrutinize the rising cost of artificial intelligence infrastructure.
While some investors focused on Alphabet's higher capital expenditure plans, Stifel analysts said the company's results reinforced expectations that AI infrastructure spending remains robust.
“The first hyperscaler print this earnings cycle reinforces our view that the AI data center buildout is not decelerating,” the analysts wrote following Alphabet's quarterly results.
Alphabet's continued investment is viewed as a positive signal for suppliers of interconnects, optics and networking hardware used in AI data centers.
The company is one of several hyperscalers, alongside Microsoft and Amazon, that are investing heavily in expanding AI infrastructure.
According to Stifel, Alphabet's results support companies with significant exposure to AI data center deployments.
Stifel identified Lumentum Holdings, Celestica and Coherent as the hardware companies with the greatest exposure to Alphabet's spending.
The brokerage also pointed to Marvell Technology as an important supplier of optical digital signal processors, while Semtech was highlighted for its growing supply of active copper cable to Alphabet.
Monolithic Power Systems was also identified as having meaningful exposure through power-related products.
“This initial read is overwhelmingly positive for the space and should skew positive for the CapEx spend insights from the other hyperscaler reports to follow,” the analysts added.
The brokerage suggested investors could look at these companies ahead of earnings from other hyperscalers. Microsoft is scheduled to report results on July 29, followed by Amazon on July 30.
Lumentum shares gained after Barclays also upgraded the stock to Overweight, citing strong demand for the company's optical and laser components used in AI data centers.
Barclays also assigned a $1,000 price target while pointing to expectations ahead of Lumentum's fiscal fourth-quarter earnings in August.
Lumentum stock LITE gained 1.8% on Thursday's session.
Lumentum has increasingly positioned itself as a beneficiary of the AI infrastructure boom by expanding its portfolio of optical and photonic technologies.
According to Seeking Alpha analysts, the company has diversified beyond legacy telecommunications markets through acquisitions including Oclaro, NeoPhotonics, IPG Photonics and Cloud Light Technology.
These deals have expanded Lumentum's exposure to cloud computing, AI, machine learning and high-speed optical networking.
The company reported that its Cloud & Networking segment accounted for 85.7% of fiscal 2025 revenue, up from 58.9% in fiscal 2022 under its previous Telecom and Datacom reporting structure.
The analysts also highlighted several long-term growth opportunities, including Optical Circuit Switches, expanding optical scale-out deployments and the anticipated transition toward optical scale-up architectures beginning in 2028.
Lumentum reported fiscal third-quarter 2026 revenue of $808.4 million, up 90.1% year over year, supported by accelerating laser sales tied to AI infrastructure demand.
Looking ahead, the analysts said broader adoption of Co-Packaged Optics for application-specific integrated circuits could drive additional demand for Lumentum's next-generation ultra-high-power lasers beginning in 2027.
At the same time, the experts warned that Lumentum continues to face execution risks, including elevated debt levels, uneven cash generation and shortages of critical components that could affect future capacity expansion.
Southern Missouri Bancorp NASDAQ: SMBC reported stronger quarterly and full-year earnings as net interest income improved, operating expenses declined and tax credit investments lowered its tax provision, executives said on the company’s fiscal fourth-quarter earnings call.
President and Chief Administrative Officer Matt Funke said the June quarter, which closed the company’s fiscal year, benefited from higher net interest income, higher non-interest income, lower non-interest expense and a reduced income tax provision. Those gains were partly offset by a higher provision for credit losses.
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For the quarter, Southern Missouri earned $1.83 per diluted share, up $0.23, or about 14%, from the linked March quarter and up $0.44, or about 32%, from the June 2025 quarter. For fiscal 2026, the company earned $6.43 per diluted share, compared with $5.18 in fiscal 2025.
Funke said the 24% year-over-year increase in full-year earnings was “predominantly driven by stronger net interest income,” which reflected margin expansion as funding costs declined, along with nearly 5% average earning asset growth. He said the company generated a return on assets of 1.41% for fiscal 2026.
Loan Growth Remains Solid, But Management Expects Moderation Gross loan balances increased $69 million during the fourth quarter and were up $291 million, or 7.1%, from a year earlier. Funke said growth during the quarter was driven largely by construction and land development loans, one-to-four-family residential real estate, multifamily loans, agricultural real estate and seasonal agricultural production lending.
Loan originations totaled about $335 million in the quarter, up $85 million from the year-ago period, though Funke said several larger payoffs muted the impact. The expected 90-day pipeline rose by about $4 million from the prior quarter to $182 million.
Looking to fiscal 2027, Funke said management continues to expect mid-single-digit loan growth. However, he said growth could moderate from the 7% achieved in fiscal 2026 because the company is prioritizing core deposit relationships rather than wholesale funding to support new loan production.
Deposits increased about $67 million, or 1.5%, in the fourth quarter and were up roughly $126 million, or about 3%, year over year. Funke said deposit growth in the quarter was primarily driven by brokered deposits, noting that brokered balances were up just under $56 million from a year earlier. He said local deposit rate competition has increased and wholesale funding has sometimes been more cost-effective.
The company has begun rolling out a new suite of business accounts and adjusted employee incentives in an effort to grow lower-cost operating accounts over time, Funke said.
Net Interest Margin Holds Steady, But Funding Costs Could Pressure Results Net interest margin was 3.67% in the June quarter, unchanged from the March quarter and up from 3.47% a year earlier. Net interest income rose almost 3% from the linked quarter and about 10% year over year.
Chief Financial Officer Stefan Chkautovich said the margin included about three basis points of fair value discount accretion on acquired loan portfolios and premium amortization on assumed deposits, unchanged from the linked quarter. He also said the quarter included a $603,000 reversal of accrued interest income, which reduced the margin and average earning asset yield by about five basis points.
Chkautovich said Southern Missouri generated 22 basis points of net interest margin expansion in fiscal 2026, primarily due to lower-cost deposits in a declining rate environment. But he cautioned that the company could face core margin pressure in coming quarters because short-term rates have recently increased and deposit competition remains elevated. About 25% of total deposits are indexed to the 91-day Treasury bill, he said.
In response to an analyst question, Chkautovich said the 91-day Treasury rate was up about 14 basis points from the start of July for the company’s indexed deposits. He also said about $550 million of fixed-rate loans are maturing over the next 12 months, with new originations about 25 basis points above maturing loan rates. At the same time, roughly $1.3 billion of certificates of deposit are repricing, with new CD rates about 3 to 5 basis points above maturing rates.
Credit Costs Rise as Two Relationships Drive Charge-Offs Chairman and Chief Executive Officer Greg Steffens said adversely classified loans improved from the prior quarter, declining to $54 million, or 1.2% of gross loans. Non-performing loans fell $2.5 million to about $28 million, or 0.63% of gross loans, at June 30.
Non-performing assets, however, increased $1.5 million from the prior quarter to about $33.5 million, primarily due to a rise in other real estate owned. Steffens said the increase followed the foreclosure of a previously disclosed commercial loan relationship secured by commercial real estate and equipment. The equipment was liquidated, and the commercial real estate was transferred to other real estate owned. The company recognized a $1.2 million charge-off on the transfer, leaving a remaining carrying value of about $3.6 million.
Steffens also said the company downgraded a separate agricultural lending relationship to non-accrual status during the quarter. The borrower filed for Chapter 7 bankruptcy, and Southern Missouri recognized a $2.6 million charge-off, leaving remaining exposure of $5.9 million supported by additional specific reserves.
The provision for credit losses was $3.2 million in the quarter, up from $2.1 million in the March quarter. Chkautovich said net charge-offs totaled $4.3 million, up $4 million from the linked quarter, mainly related to the agricultural production loan and the commercial loan relationship transferred to other real estate owned.
The allowance for credit losses totaled $54.9 million at June 30, representing 1.25% of gross loans and 199% of non-performing loans. That compared with $55.9 million, or 1.29% of gross loans and 186% of non-performing loans, at March 31.
In the question-and-answer session, Chkautovich said the company could see some increase in provision expense in fiscal 2027 following its annual model adjustment. He said a potential allowance range could be about 1.25% to 1.35% of loans, depending on problem asset levels.
Steffens said management expects charge-offs to improve from the past two fiscal years, when they were 17 basis points and 18 basis points. He said the company is targeting progress toward historical levels of roughly 3 to 5 basis points annually.
Agricultural Portfolio Outlook Improves, But Reserves Remain Elevated Steffens said agricultural real estate balances totaled $296 million, or 7% of gross loans, while agricultural production and equipment loans totaled $219 million, or 5% of gross loans. Agricultural production and equipment balances rose $15 million from the prior quarter due to normal seasonality tied to planting and higher operating costs.
He said planting has been completed across Southern Missouri’s markets, with the projected 2026 crop mix consisting of about 30% soybeans, 30% corn, 20% cotton, 15% rice and 5% specialty crops. Steffens said favorable planting and timely rainfall have positioned most major crops for above-average yield potential.
Current commodity prices and expected yields are running about 10% to 15% above the company’s underwriting assumptions, partially offsetting elevated production costs and improving projected farm profitability, Steffens said. He added that higher USDA Price Loss Coverage and Agricultural Risk Coverage payments this fall should provide additional liquidity for many farmers.
Despite the improved outlook, Steffens said the company continues to maintain elevated reserves for its agricultural production portfolio because of prolonged pressure in the sector.
Capital Deployment, Expenses and M&A Southern Missouri increased tangible book value per share to $47.43, up $5.56, or 13%, from a year earlier. During fiscal 2026, the company repurchased 317,000 shares, or nearly 3% of average common shares outstanding at the start of the year, at an average price of $58.59. In the fourth quarter, it repurchased 4,000 shares at an average price of just over $69.
The company also announced an 8% increase in its quarterly dividend, raising it by $0.02 to $0.27 per share.
Non-interest expense declined 2.6% from the linked quarter, Chkautovich said, due mainly to lower other non-interest expense, occupancy and equipment expense, and data processing costs. For fiscal 2026, non-interest expense totaled $102.1 million, unchanged from fiscal 2025. Looking ahead, he said operating expenses are expected to “re-accelerate” in fiscal 2027 as the company invests in new employees and technology, with expense growth potentially in the mid-single digits to the low-to-high single digits depending on timing.
Steffens said discussions around mergers and acquisitions have remained active. He said there are approximately 75 banks with $500 million to $2 billion in assets within the company’s footprint, in addition to institutions in adjacent markets. In response to an analyst question, he said the company’s improved trading multiples and capital position make M&A more attractive than buybacks at current valuation levels.
“Our focus remains on disciplined execution, prudent risk management, and thoughtful capital deployment to deliver sustained, attractive returns to our shareholders,” Steffens said.
About Southern Missouri Bancorp (NASDAQ:SMBC)Southern Missouri Bancorp, Inc NASDAQ: SMBC is a bank holding company headquartered in West Plains, Missouri, serving as the parent of Southern Bank. The company focuses on delivering community banking services to individual and commercial customers across southern Missouri and northern Arkansas. It operates branch offices in local markets and provides a comprehensive suite of deposit and lending products tailored to both urban and rural communities.
Through its subsidiary, Southern Bank, the company offers deposit products such as checking and savings accounts, money market accounts and certificates of deposit, alongside digital and mobile banking platforms.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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Robotics and automation are rapidly becoming essential infrastructure across healthcare, manufacturing, logistics, and many other industries.
"Physical AI" is coming to the United States, and there are four ways that investors can gain exposure to this new robotics revolution. Plus, learn which seven companies are most positioned to benefit as intelligent robots enter the workforce.
Key Takeaways Snap-on posted Q2 EPS of $4.96 and net sales of $1.24 billion, both above estimates.Commercial & Industrial sales climbed 13.8%, driven by 11% organic growth and acquisitions.Tools Group sales rose 3.6% as U.S. and international operations delivered 3% organic growth. Snap-on Inc. (SNA - Free Report) reported solid second-quarter 2026 results, wherein the top and bottom lines surpassed the Zacks Consensus Estimate and grew year over year. Results benefited from broad-based Commercial & Industrial Group growth and continued gains in the Tools Group.
Snap-on’s earnings of $4.96 per share surpassed the Zacks Consensus Estimate of $4.90. The figure increased from adjusted earnings of $4.72 per share in the year-ago quarter.
SNA’s Quarterly Performance: Key Metrics & InsightsNet sales totaled $1.24 billion, up 4.7% from the prior year, and topped the Zacks Consensus Estimate of $1.22 billion. Sales benefited from a 3% increase in organic sales ($35.5 million), $11.5 million of acquisition-related sales and an $8.7 million favorable impact from foreign currency fluctuations.
The gross profit of $635.2 million rose 6.7% year over year and the gross margin expanded 90 basis points (bps) to 51.4%. Our model expected a gross margin of 49.6%, down 90 bps from the year-ago quarter.
Snap-on’s operating earnings before financial services totaled $268.9 million, up 3.8% year over year. As a percentage of sales, operating earnings before financial services decreased 20 bps to 21.8% in the second quarter.
Consolidated operating earnings (including financial services) were $336.4 million, up 2.8% year over year. As a percentage of revenues, operating earnings fell 30 bps year over year to 25.2%.
Snap-on’s Q2 Segmental AnalysisSales in the Commercial & Industrial Group rose 13.8% from the year-ago quarter to $395.8 million, driven by a $2.5 million gain in favorable foreign currency translation, a $38.7 million or 11%, organic sales rise and $6.8 million in acquisition-related sales. The organic rise is mainly owing to increased sales across each of the segment’s operations. For the second quarter, we expected sales of $360 million for the segment.
The Tools Group segment’s sales increased 3.6% year over year to $508.8 million. We estimated sales of $505.7 million for the segment. The increase resulted from an organic sales rise of 3%, owing to an improvement in sales both in the United States and the segment’s international operations. Also, a $2.9 million benefit from foreign currency translation aided revenues. Management continues to focus on strengthening the franchise van channel. The company believes investments in product innovation, brand strength and franchisee support can sustain the segment’s long-term growth trajectory.
The Repair Systems & Information Group segment sales were $480.3 million in the quarter compared with $468.6 million in 2025. Organic sales edged up 0.7%, with acquisitions adding $4.7 million and favorable foreign currency translation contributing $3.8 million. We expected sales of $482.7 million for the segment.
The Financial Services business’ revenues dipped 2% year over year to $99.7 million. Our estimate for sales from this segment was $102.3 million.
SNA's Financial SnapshotSnap-on ended the second quarter of 2026 with cash and cash equivalents of $1.64 billion, with shareholders’ equity (before non-controlling interest) of $6.1 billion.
Snap-on generated $271.5 million in operating cash flow during the quarter, up from $237.2 million a year earlier. Capital expenditures totaled $23.1 million, while acquisitions used $154 million.
What’s Ahead for Snap-on?Snap-on expects its markets and operations to remain resilient despite ongoing economic uncertainty. The company plans to advance its growth initiatives by leveraging its established strengths in automotive repair, expanding its professional customer base across adjacent markets and new geographies, and increasing its presence in critical industries. For 2026, Snap-on continues to project capital expenditures of approximately $100 million, including $44.3 million spent during the first six months, and expects a full-year effective income tax rate of about 22%.
This Zacks Rank #3 (Hold) company’s shares have gained 8.4% in the past three months compared with the industry's 5.5% growth.
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Key PicksDuluth Holdings Inc. (DLTH - Free Report) sells casual wear, workwear, outdoor apparel, and accessories for men and women in the United States. It offers shirts, pants, shorts, underwear, outerwear, footwear, accessories and hard goods. At present, DLTH sports a Zacks Rank of 1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for current fiscal-year sales implies a decline of 2.8%, and the same for earnings implies growth of 39.5% from the year-ago reported figures. DLTH delivered a trailing four-quarter earnings surprise of 107.5%, on average.
Carter’s, Inc. (CRI - Free Report) designs, sources and markets branded children's wear in the United States and internationally. At present, CRI has a Zacks Rank of 2 (Buy).
The Zacks Consensus Estimate for current fiscal-year sales implies growth of 4.9%, and the same for earnings implies a decline of 10.9% from the year-ago figures. CRI delivered a trailing four-quarter negative earnings surprise of 100.8%, on average.
Vince Holding Corp. (VNCE - Free Report) provides luxury apparel and accessories in the United States and internationally. It operates through Vince Wholesale and Vince Direct-to-Consumer segments. At present, VNCE carries a Zacks Rank of 2.
The Zacks Consensus Estimate for current fiscal-year sales and earnings implies growth of 7.2% and 34.1%, respectively, from the year-ago reported figures. VNCE has delivered a trailing four-quarter earnings surprise of 635.7%, on average.
Key Takeaways CONMED's AirSeal is now FDA-cleared for 8 mm hex cannulas on the da Vinci 5 robotic platform.Joint testing with Intuitive Surgical supported compatibility across da Vinci X, Xi and 5 systems.AirSeal maintains pressure, clears smoke and supports low-pressure insufflation during robotic surgery. CONMED (CNMD - Free Report) recently announced that the FDA has expanded the indication for its AirSeal Robotic Solution to be used with Intuitive Surgical’s (ISRG - Free Report) 8 mm hex cannulas on the da Vinci 5 (dV5) robotic surgery platform. Previously approved for Intuitive Surgical’s 8 mm round cannulas, the solution is now compatible across the full portfolio of the da Vinci X, da Vinci Xi and da Vinci 5 robotic systems.
Management noted that the expanded indication was supported by extensive engineering and technical compatibility testing conducted jointly with Intuitive Surgical. The company remains focused on providing surgeons and hospitals with compatibility data and clear product communication, helping them deliver high-quality patient care.
The expanded indication brings greater clarity on the integration of the AirSeal Robotic Solution with the da Vinci 5 platform, supporting efficient and consistent surgical workflows while contributing to positive patient outcomes. Management also expressed confidence that this achievement strengthens the long-term growth potential of CONMED’s AirSeal portfolio.
Likely Trend of CNMD Stock Following the NewsFollowing the announcement, CNMD shares gained 0.3% at yesterday’s close. Year to date, the stock has risen 3.5% against the industry’s 2.2% decline. However, the S&P 500 has risen 9.3% in the same timeframe.
CONMED is well positioned to benefit from the expanded indication for its AirSeal Robotic Solution. Compatibility with the da Vinci 5 platform broadens the product’s addressable market and reinforces its value within robotic-assisted minimally invasive surgeries. As hospitals continue to adopt ISRG’s latest robotic platform and the company continues to expand in international markets, adoption of CONMED’s AirSeal is likely to be strengthened, which will drive growth for its surgical portfolio.
CNMD currently has a market capitalization of $1.26 billion.
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More on the NewsThe AirSeal Robotic Solution is an advanced insufflation system developed specifically for robotic-assisted minimally invasive surgery. It combines an AirSeal Cannula Cap with AirSeal and a bifurcated tube set to deliver stable pneumoperitoneum, continuous smoke evacuation and low-pressure insufflation through robotic ports, eliminating the need for an accessory port. Unlike conventional insufflation systems that replenish carbon dioxide only after pressure drops, AirSeal maintains pressure, improving visualization and minimizing interruptions during surgery.
Its three-lumen design provides CO2 insufflation, smoke evacuation and a regulated gas barrier that maintains consistent cavity pressure even during leaks or suction. By preserving visualization, minimizing pressure fluctuations and restoring pneumoperitoneum when disruptions occur, the system supports physiologic stability, enhances intraoperative efficiency and contributes to smoother patient recovery during minimally invasive robotic procedures.
The expanded indication strengthens AirSeal’s role in robotic surgery by enabling seamless integration with Intuitive Surgical’s latest system architecture while providing hospitals and surgeons with greater flexibility in using complementary technologies. Backed by more than 40 clinical studies, the system is designed to support low-pressure insufflation, helping improve patient outcomes, procedural efficiency and surgical performance.
Industry Prospects Favoring the MarketGoing by the data provided by Mordor Intelligence, the insufflation devices market is predicted to be valued at $3.28 billion in 2026 and is expected to witness a CAGR of 5.9% through 2031.
Factors like the growing adoption of minimally invasive surgeries, advancements in insufflation technology, rising volumes of bariatric and gynecologic procedures, integration with digital operating rooms, expanding ambulatory surgery infrastructure and a shift toward disposable insufflation consumables are boosting the market’s growth.
Other NewsCONMED recently appointed John E. Gallagher as its chief financial officer, effective July 15, 2026. He succeeds Todd Garner, who will remain associated with the company in an advisory role through Nov. 2, 2026. Gallagher brings nearly three decades of financial leadership experience across public healthcare and industrial companies, including Certara, Inc., Cue Health Inc. and Becton, Dickinson & Co.
In May, CONMED announced the appointment of seasoned healthcare executives Celine Martin and Jeff Mirviss to its board of directors, effective July 1, 2026. The move expands the board to nine members and strengthens governance with deep leadership expertise from Johnson & Johnson and Boston Scientific.
CNMD’s Zacks Rank & Key PicksCONMED currently carries a Zacks Rank #5 (Strong Sell).
Some better-ranked stocks from the broader medical space are West Pharmaceutical (WST - Free Report) and Cardinal Health (CAH - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
West Pharmaceutical reported first-quarter 2026 earnings per share (EPS) of $2.13, which beat the Zacks Consensus Estimate by 26.8%. Revenues of $844.9 million surpassed the Zacks Consensus Estimate by 8.5%.
West Pharmaceutical has an estimated long-term earnings growth rate of 14.4%. WST’s earnings surpassed estimates in the trailing four quarters, the average surprise being 19.4%.
Cardinal Health reported a third-quarter fiscal 2026 adjusted EPS of $3.17, which beat the Zacks Consensus Estimate by 13.2%. Revenues of $60.94 billion missed the Zacks Consensus Estimate by 2.3%.
Cardinal Health has an estimated long-term earnings growth rate of 17%. CAH’s earnings surpassed estimates in the trailing four quarters, the average surprise being 10.3%.
Central Garden & Pet Company is rated 'Hold' due to stagnant growth and margin concerns, despite trading below sector multiples. CENT's pet segment growth has plateaued, while garden segment margin compression offsets revenue gains, raising questions about sustainable profitability. Management maintains full-year guidance despite industry spending increases, reflecting caution amid a shrinking addressable customer base and shifting consumer habits.
United Rentals, Inc. (URI) Q2 2026 Earnings Call July 23, 2026 8:30 AM EDT
Company Participants
Matthew Flannery - President, CEO & Director
William Grace - Executive VP & CFO
Conference Call Participants
David Raso - Evercore ISI Institutional Equities, Research Division
Robert Wertheimer - Melius Research LLC
Michael Feniger - BofA Securities, Research Division
Steven Fisher - UBS Investment Bank, Research Division
Jerry Revich - Wells Fargo Securities, LLC, Research Division
Kyle Menges - Citigroup Inc., Research Division
Kenneth Newman - KeyBanc Capital Markets Inc., Research Division
Seth Weber - BNP Paribas, Research Division
Mircea Dobre - Robert W. Baird & Co. Incorporated, Research Division
Jamie Cook - Truist Securities, Inc., Research Division
Angel Castillo Malpica - Morgan Stanley, Research Division
Sabahat Khan - RBC Capital Markets, Research Division
Tami Zakaria - JPMorgan Chase & Co, Research Division
Charles Albert Dillard - Bernstein Institutional Services LLC, Research Division
Presentation
Operator
Good morning, everyone, and welcome to the United Rentals Investor Conference Call. Please be advised that this call is being recorded.
Before we begin, please note that the company's press release, comments made on today's call and responses to your questions contain forward-looking statements. The company's business and operations are subject to a variety of risks and uncertainties, many of which are beyond its control. And consequently, actual results may differ materially from those projected. A summary of these uncertainties is included in the safe harbor statement contained in the company's press release.
For a more complete description of these and other possible risks, please refer to the company's annual report on Form 10-K for the year ended December 31, 2025, as well as the subsequent filings with the SEC. You can access these filings on the company's website at www.unitedrentals.com. Please note that United Rentals has no obligation and makes no commitment to update or publicly release any revisions to forward-looking statements in order to
Key Takeaways United Rentals' Q2 revenues rose 11.8%, while adjusted earnings increased 21.9% year over year.Record rental revenues climbed 12.7%, supported by 3.4% fleet productivity growth and specialty demand.United Rentals raised its 2026 revenue outlook to $17.5-$17.8 billion on strong project activity. United Rentals, Inc. (URI - Free Report) reported solid second-quarter 2026 results, with adjusted earnings per share and total revenues beating the Zacks Consensus Estimate and increasing year over year.
Record rental revenues, higher fleet productivity and robust specialty demand supported the results. Fleet productivity improved 3.4% year over year.
URI stock gained 8.3% during yesterday’s after-hours, following the earnings release.
URI's Q2 Earnings & RevenuesURI posted adjusted earnings of $12.76 per share, up 21.9% from $10.47 a year ago and surpassing the Zacks Consensus Estimate of $11.67 by 9.3%.
Total revenues advanced 11.8% to $4.41 billion and topped the consensus mark of $4.24 billion by 4.1%.
URI’s Rental Revenues Reach a Quarterly RecordRental revenues increased 12.7% year over year to a quarterly record of $3.85 billion. Average original equipment at cost, or OEC, rose 7.1%.
Owned equipment rental revenues increased 9% to $2.99 billion from $2.75 billion. Re-rent revenues rose 46.7% to $88 million, while ancillary and other rental revenues advanced 26.2% to $770 million.
Sales of rental equipment increased 4.1% to $330 million. Sales of new equipment rose 14.7% to $86 million, contractor supplies sales increased 7.3% to $44 million and service and other revenues grew 6.3% to $101 million.
United Rentals Sees Specialty Growth AccelerateGeneral Rentals segment equipment rental revenues increased 6.6% year over year to $2.42 billion. Equipment rental gross profit rose 8.7% to $865 million, while gross margin expanded 70 basis points to 35.8%.
Specialty segment equipment rental revenues rose 24.8% to $1.43 billion. Gross profit increased 21.1% to $636 million, but gross margin contracted 140 basis points to 44.4%. The decline reflected a revenue mix shift toward lower-margin ancillary and re-rent revenues, partly offset by lower labor and benefit expenses as a percentage of revenues.
United Rentals' Profitability ImprovesGross profit increased to $1.73 billion from $1.53 billion. The gross margin improved to 39.3% from 38.9%, as revenue growth outpaced the increase in cost of revenues.
Adjusted EBITDA rose 13.6% to a quarterly record of $2.06 billion. The adjusted EBITDA margin expanded 70 basis points to 46.6%, including a $49 million gain from the sale of part of the scaffolding business. Excluding that gain, the margin declined 40 basis points due mainly to the Specialty Rentals mix pressure.
Net income increased 21.1% to a second-quarter record of $753 million. Net income margin expanded 130 basis points to 17.1%, including a $37 million after-tax benefit from the scaffolding transaction.
United Rentals Maintains Financial FlexibilityFor the first six months of 2026, net cash provided by operating activities increased 20.1% to $3.31 billion. Free cash flow declined 4.1% to $1.15 billion, including restructuring-related payments and gross rental equipment purchases of $2.72 billion.
URI ended June with liquidity of $3 billion, including $112 million in cash and equivalents. Its net leverage ratio improved to 1.8x from 1.9x at the end of 2025.
The company returned $998 million to its shareholders during the first half of 2026, comprising $750 million in share repurchases and $248 million in dividends. United Rentals expects to repurchase $1.5 billion of shares in 2026 and declared a quarterly dividend of $1.97 per share.
URI Raises Key 2026 Guidance RangesManagement raised its 2026 revenue outlook to $17.5-$17.8 billion from $16.9-$17.4 billion. The adjusted EBITDA forecast increased to $7.98-$8.13 billion from $7.63-$7.88 billion.
United Rentals now expects net cash provided by operating activities of $5.85-$6.65 billion, compared with the prior projection of $5.4-$6.2 billion. The free cash flow outlook, excluding restructuring-related payments, was maintained at $2.15-$2.45 billion.
Net rental capital expenditures are projected at $3.4-$3.8 billion after gross purchases of $4.85-$5.25 billion. Management cited large-project activity, customer backlogs and year-to-date momentum as factors supporting the higher outlook.
URI’s Zacks Rank & Recent Construction ReleasesCurrently, United Rentals carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
PulteGroup, Inc. (PHM - Free Report) reported better-than-expected second-quarter 2026 results, with adjusted earnings and total revenues topping the Zacks Consensus Estimate, but declining year over year. The quarterly results reflect reduced home-closing volumes, softer average selling prices (ASP) and margin compression.
PulteGroup ended the quarter with a backlog of 10,966 homes, up 1.7% from the prior-year level. Backlog units increased in the Northeast, Florida, Midwest and Texas, while the Southeast and West reported declines. The value of homes in backlog slipped 0.6% to $6.80 billion. The divergence between higher units and lower value indicates that the average value of homes in backlog declined year over year, consistent with PHM’s broader pricing pressure.
D.R. Horton, Inc. (DHI - Free Report) reported third-quarter fiscal 2026 earnings of $3.20 per share, beating the Zacks Consensus Estimate of $2.99 by 7%. Revenues of $9.23 billion also surpassed the consensus mark of $9.19 billion by 0.5%. On a year-over-year basis, earnings declined 4.8%, while revenues increased marginally.
DHI’s earnings and revenue beat was driven by higher home-closing volumes, resilient home sales margins, disciplined management of pricing and incentives, and contributions from the Rental, Forestar and Financial Services businesses. However, lower profitability, elevated incentives and cautious consumer demand continued to weigh on results. D.R. Horton now expects fiscal 2026 consolidated revenues of $32.5-$33 billion, down from $33.5-$34.5 billion expected earlier.
Lennar Corporation (LEN - Free Report) reported mixed second-quarter fiscal 2026 results, with adjusted earnings topping the Zacks Consensus Estimate while revenues missed the same. Year over year, both metrics declined, given ongoing softness in housing demand and a lower ASP for homes delivered.
LEN’s Homebuilding revenues declined 2% year over year to $7.62 billion from $7.84 billion, with home deliveries increasing 2% to 20,519 homes from 20,131 homes a year ago. Backlog at quarter-end increased to 16,818 homes from 15,538 homes. For the third quarter of fiscal 2026, Lennar expects home deliveries in the range of 20,500-21,500 and new orders between 21,000 and 22,000 homes. Gross margin on home sales is expected to be approximately 16%.
NEW YORK, July 23, 2026 (GLOBE NEWSWIRE) -- Bronstein, Gewirtz & Grossman, LLC, a nationally recognized investor-rights law firm, announces that a class action lawsuit has been filed against Insulet Corporation (NASDAQ: PODD) and certain of its officers.
This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Insulet securities between May 21, 2025 and May 26, 2026, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: bgandg.com/PODD.
Insulet Case Details
The complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and compliance policies. Specifically, the Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that:
Insulet’s manufacturing controls and procedures were defective;the foregoing created a foreseeable heightened risk that one or more Insulet products would be found to be in violation of applicable safety regulations and/or pose a risk of injury; andas a result, Defendants’ public statements were materially false and misleading at all relevant times. What's Next for Insulet Investors?
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm’s site: bgandg.com/PODD. or you may contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC at 917-590-0911. If you suffered a loss in Insulet you have until August 31, 2026, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as lead plaintiff.
No Cost to Insulet Investors
We, Bronstein, Gewirtz & Grossman LLC, represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys’ fees, usually a percentage of the total recovery, only if we are successful.
Why Bronstein, Gewirtz & Grossman, LLC for Insulet Securities Class Action?
Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide. More at www.bgandg.com
"Our practice centers on restoring investor capital and ensuring corporate accountability, which serves to uphold the essential integrity of the marketplace," said Peretz Bronstein, Founding Partner of Bronstein, Gewirtz & Grossman, LLC.
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Peretz Bronstein, Esq. or Nathan Miller
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Prior results do not guarantee similar outcomes.
Whether it's through stocks, bonds, ETFs, or other types of securities, all investors love seeing their portfolios score big returns. However, when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments.
Cash flow can come from bond interest, interest from other types of investments, and, of course, dividends. A dividend is that coveted distribution of a company's earnings paid out to shareholders, and investors often view it by its dividend yield, a metric that measures the dividend as a percent of the current stock price. Many academic studies show that dividends make up large portions of long-term returns, and in many cases, dividend contributions surpass one-third of total returns.
Headquartered in Chattanooga, Unum (UNM - Free Report) is a Finance stock that has seen a price change of 13.28% so far this year. The insurance company is paying out a dividend of $0.46 per share at the moment, with a dividend yield of 2.1% compared to the Insurance - Accident and Health industry's yield of 1.34% and the S&P 500's yield of 1.34%.
Looking at dividend growth, the company's current annualized dividend of $1.84 is up 4.5% from last year. Over the last 5 years, Unum has increased its dividend 4 times on a year-over-year basis for an average annual increase of 9.80%. Looking ahead, future dividend growth will be dependent on earnings growth and payout ratio, which is the proportion of a company's annual earnings per share that it pays out as a dividend. Unum's current payout ratio is 22%, meaning it paid out 22% of its trailing 12-month EPS as dividend.
UNM is expecting earnings to expand this fiscal year as well. The Zacks Consensus Estimate for 2026 is $8.75 per share, with earnings expected to increase 7.63% from the year ago period.
Investors like dividends for many reasons; they greatly improve stock investing profits, decrease overall portfolio risk, and carry tax advantages, among others. It's important to keep in mind that not all companies provide a quarterly payout.
Big, established firms that have more secure profits are often seen as the best dividend options, but it's fairly uncommon to see high-growth businesses or tech start-ups offer their stockholders a dividend. During periods of rising interest rates, income investors must be mindful that high-yielding stocks tend to struggle. With that in mind, UNM is a compelling investment opportunity. Not only is it a strong dividend play, but the stock currently sits at a Zacks Rank of #3 (Hold).
5 Tech Stocks to Buy on the July PullbackAmeriprise Financial NYSE: AMP reported higher second-quarter 2026 revenue and earnings, as executives pointed to asset growth, strong client and advisor engagement, and continued capital returns while acknowledging pressure from advisor transitions and an aggressive recruiting environment.
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Chairman and CEO Jim Cracchiolo said the company “delivered another great quarter” in a market environment shaped by rates, inflation and geopolitical volatility. Ameriprise reported revenue growth of 13% to nearly $5 billion and adjusted operating earnings of $1 billion, up 14% from a year earlier. Adjusted operating earnings per share rose 22% to $11.07.
Time to Sell? 3 Winners With Fading Technical MomentumThe company’s return on equity increased to 55%, compared with 51.5% a year earlier. Total assets under management, administration and advisement grew 14% to $1.8 trillion, while total client assets increased 15% to $1.2 trillion.
Wealth Management Assets and Productivity Rise Ameriprise’s Advice & Wealth Management business posted adjusted operating net revenue of $3.2 billion, up 16% from the prior year, according to Chief Financial Officer Walter Berman. Pre-tax adjusted operating earnings in the segment also rose 16% to $939 million, while margins remained strong at about 29%.
5 Under-the-Radar AI Stocks to Watch in JuneWrap assets reached a record $732 billion, up 19%, driven by market appreciation, client engagement and growth in the company’s advice platform. Berman said wrap flows were $6.9 billion in the quarter, while total client flows were $3.1 billion. He said flows were affected by an acceleration of Comerica-related terminations and elevated seasonal tax payments.
Advisor productivity reached a new high of $1.2 million, up 12% year over year. Cracchiolo attributed the increase to client engagement, technology investments and advisor support. He said Ameriprise’s client satisfaction score remained 4.9 out of 5.
The company added 79 experienced advisors during the quarter. Cracchiolo said Ameriprise remains selective in recruiting, noting that some competitors’ recruiting packages imply cash payback periods “as high as eight years,” which he described as “crazy.” He said Ameriprise is attracting advisors who cite its technology, service and responsiveness as differentiators.
Comerica Outflows to End in Third Quarter; Huntington Onboarding Ahead During the question-and-answer session, Berman said approximately $19 billion related to Comerica is expected to exit by the end of the third quarter. He declined to provide more detail on how much had already left, citing client confidentiality, but said the pace of departures accelerated significantly in the second quarter compared with the first.
Executives said the Comerica impact would be offset by Huntington Bank, which is expected to join the Ameriprise Financial Institutions Group platform in the fourth quarter. Berman said Huntington is anticipated to bring about 260 advisors and $28 billion of client assets onto the platform, with assets moving in the fourth quarter and early 2027. He said Ameriprise expects to benefit from the economics of the full book beginning in the fourth quarter.
AI and Banking Remain Investment Priorities Cracchiolo said Ameriprise is expanding its use of artificial intelligence to help advisors grow, reduce administrative work and deliver more personalized advice. He said tools such as e-meeting automation, meeting summarization and Copilot Premium can collectively save practices more than 30 hours per week when used together.
In response to an analyst question, Cracchiolo said about 6,000 advisors are already using one of the firm’s technology capabilities tied to client engagement and meetings. He said adoption should continue to support productivity as more advisors incorporate the tools into their practices.
The company also highlighted growth in its bank. Cracchiolo said bank assets exceeded $25 billion, up 6%, while lending grew 61% year over year, driven by pledge lending and mortgages. Ameriprise has also introduced HELOCs and checking accounts. Berman said bank assets totaled $25.5 billion, with total client cash of $84 billion down 2% year over year.
Asset Management Outflows Improve In asset management, Ameriprise reported total assets under management and advisement of $759 billion, up 10% year over year. Pre-tax adjusted operating earnings increased 23% to $274 million, while revenues rose 14% to $947 million. The segment’s margin reached 43%, above both the prior-year level of 39% and the company’s target range of 35% to 39%.
Cracchiolo said investment performance remained a strength, with 69% of funds above the median for one year, 75% above the median for three- and five-year periods, and 87% above the median over 10 years. He also said 97 Columbia Threadneedle funds globally carried four- or five-star Morningstar ratings.
Total net outflows improved to $6.5 billion, driven by higher gross sales in North America and EMEA. Cracchiolo said the company is gaining traction in active ETFs, separately managed accounts and models, while Seligman strategies contributed to asset growth and flows.
Capital Returns Continue at Elevated Pace Ameriprise returned $932 million of capital to shareholders in the quarter through share repurchases and dividends, equal to 91% of operating earnings. Berman said the company repurchased 1.7 million shares at an average price of $459 during the quarter.
For the first half of 2026, Ameriprise returned $1.9 billion of capital to shareholders, up 25% from the prior-year period. The company repurchased 3.3 million shares at an average price of $467, compared with 2.3 million shares at an average price of $507 in the first half of 2025.
Berman said Ameriprise ended the quarter with $2.1 billion of excess capital and $2.8 billion of holding company available liquidity. He said the balance sheet and free cash flow generation allow the company to invest for growth while continuing to return capital to shareholders.
About Ameriprise Financial (NYSE:AMP)Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.
Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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Super Micro Computer, Inc. delivered preliminary FQ4 results with gross margins of 15–17%, nearly double guidance, and over $60 billion in new orders. SMCI's path to $100 billion in annual revenue is supported by surging orders and expanded manufacturing capacity, with DCBBS products driving margin expansion. The company has a clear path to $10+ EPS by FY28, while consensus estimates remain far lower despite massive order momentum.
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Custom Health Holdings Inc (TSX:CHLT) just landed Buy-rated coverage from Stifel, with analysts setting a C$12 price target and pointing to upside as high as C$18 a share.
The pitch: a pill-dispensing platform that's quietly solving one of healthcare's most expensive headaches.
That headache is medication non-adherence, which costs the US healthcare system an eye-watering $0.5 trillion a year. Only about half of prescriptions get taken as directed, and the fallout, hospitalizations, ER visits, disease progression, adds up fast.
Custom Health's answer is a full-stack system: a device called Spencer that dispenses and monitors pills at home, an AI-powered platform called AdhereNet, and a network of automated pharmacies behind it. Stifel says the result is a 98% adherence rate, far above the industry norm.
Insurers have taken notice. Custom Health already has more than 100,000 patients contracted through deals with major US health plans, including Humana (NYSE:HUM), Elevance and BlueCross BlueShield, plus pain management specialists Commonwealth and BKC. Stifel expects the company to nearly triple its active patient count next year, from about 6,000 to 17,000, helped along by its recent acquisition of InnovativeRx, with revenue more than doubling.
One area where Custom Health has a particularly good story to tell: opioids. The platform helps physicians safely wean patients off opioid prescriptions, which lines up with the NOPAIN Act, a law that kicked in this past January and sweetens Medicare reimbursement for opioid-reduction efforts. Better adherence also tends to boost Medicare Star ratings, translating into higher rebates and bonus payments for health plans.
The typical Custom Health patient is in their 50s or 60s and juggling more than 10 chronic medications, exactly the population set to grow as the US and Canada keep aging.
Stifel thinks the InnovativeRx deal could unlock 4x revenue growth over the next two to three years as Custom Health works through 30,000 of the 100,000 patients already under contract, with more acquisitions still on the table.
The margin story is arguably the most compelling part: the Spencer device alone represents close to a $200 million recurring revenue opportunity at gross margins north of 60%. Layered on top of traditional pharmacy dispensing margins around 20%, Stifel sees a path to EBITDA margins in the high teens, well above what most pharmacy peers manage.
Stifel's initiation wasn't the only news out of Custom Health this month. The company has since signed a binding letter of intent to acquire Wisconsin-based Evergreen Pharmacy LLC, a deal expected to add more than US$78 million in annual revenue.
The price tag is modest relative to that boost: US$3.5 million total, including at least US$1 million in prescription drug inventory and US$450,000 in net working capital, cash on closing, with US$175,000 held back for six months as an indemnity cushion.
Evergreen is licensed to operate in Wisconsin, Illinois and Michigan, with room to expand into Minnesota, and specializes in managing complex therapies across behavioral health, dermatology, gastroenterology, infectious disease, rheumatology and neurology. It brought in about US$78.8 million in revenue and US$0.6 million in normalized EBITDA for the 12 months ended December 31, 2025, and posted positive net income in both fiscal 2025 and the first quarter of 2026.
For Custom Health, the deal fits neatly with the growth story Stifel laid out: more patients on complex drug regimens, a bigger Midwest footprint, and another building block toward that four-times revenue potential.
Eagle Bancorp NASDAQ: EGBN reported lower second-quarter 2026 earnings as elevated credit costs and continued balance-sheet repositioning weighed on results, while the company’s new chief executive outlined priorities focused on asset quality, deposits, operating performance and capital.
The Bethesda, Maryland-based bank holding company posted net income of $6.9 million, or $0.23 per diluted share, compared with $14.7 million in the previous quarter, Chief Financial Officer Eric Newell said on the company’s earnings call. Newell said the decline “primarily reflects elevated provision expense, a smaller interest-earning asset base, continued resolutions associated with addressing problem assets and strengthening the overall health of the balance sheet.”
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Steve Curley, who joined Eagle Bancorp as president and chief executive three weeks before the call, said his immediate focus is on disciplined execution and improving confidence in the franchise.
“Investors are looking for results, not promises,” Curley said. “You’ll judge us by what we do, not what we say, and that’s exactly how we intend to earn your confidence.”
Asset quality remains central focus Management repeatedly emphasized that troubled credits have been identified and are being actively managed. Newell said the company’s approach is to “recognize problems early, reserve adequately, pursue resolution, and maximize recovery.”
Credit metrics improved in several areas during the quarter. Eagle’s commercial real estate concentration ratio declined to 268% at quarter-end from 295% in the prior quarter, moving further below the 300% threshold. Its acquisition, development and construction concentration ratio ended the quarter at 66%.
Criticized and classified assets, including substandard, special mention and held-for-sale loans, fell by about $34.5 million during the quarter to $759.6 million at June 30, compared with $794.1 million at March 31. Newell said those balances have declined more than 30% from their peak in the third quarter of 2025. As a percentage of Tier 1 capital and allowance for credit losses, criticized and classified assets declined to 58.1% at quarter-end, compared with 65.7% at year-end 2025.
The company reported approximately $216 million of downgrade activity during the quarter, including $102 million tied to multifamily loans. Newell said three loans represented all of the multifamily downgrade activity, including $35 million that paid off after quarter-end. The remaining two loans, totaling $64 million, are undergoing restructuring, with “no future losses anticipated,” he said.
Nonperforming loans declined to $111.1 million, or 1.68% of total loans. Provision for credit losses totaled $21.4 million, and net charge-offs were $47.9 million. Newell said the provision was tied to disposition activity during the quarter, while $18.5 million of charge-offs were associated with loans transferred from held for investment to held for sale.
The allowance for credit losses ended the quarter at $121.1 million, or 1.83% of total loans. Newell said about $40 million of reserves were allocated specifically to the bank’s income-producing office portfolio.
Curley said he has personally visited almost all special mention and substandard relationships greater than $7 million, along with several larger watch relationships. “What I found was not a portfolio full of surprises,” he said. “I found a portfolio with known issues, active resolution plans, and teams focused on executing against them.”
Balance sheet and funding strategy Eagle continued to reduce its commercial real estate exposure. Newell said CRE loans declined by $1.7 billion year-over-year, while deposits associated with that portfolio fell by only $152 million. That improved the CRE portfolio deposit funding ratio to 36%, up from 27% a year earlier.
Period-end deposits declined $406.4 million from the prior quarter, driven mainly by lower savings, money market and brokered time deposits. Brokered deposits fell $301.5 million as Eagle reduced reliance on higher-cost wholesale funding. Noninterest-bearing deposits increased to $1.56 billion, up 5.2% from the prior quarter.
Net interest income declined $1.3 million to $62.4 million, reflecting CRE payoffs and a smaller average earning-asset base, partially offset by improved funding mix. Net interest margin expanded five basis points to 2.52%.
Curley said one of his major priorities is improving the bank’s funding profile and building relationship-based core deposits before returning to stronger loan growth. “Too often, banks start by growing loans and then figuring out how to fund them,” he said. “We’ll take the opposite approach.”
Operating performance improves despite credit costs Pre-provision net revenue increased $1.4 million from the prior quarter to $29.1 million. Noninterest expense declined $4.7 million to $44 million, mainly because of lower FDIC insurance expense tied to improved risk and performance metrics and reduced expenses related to loan dispositions. The efficiency ratio improved to 60.2% from 63.8% in the prior quarter.
Newell said year-to-date pre-provision net revenue to average assets was about 109 basis points, an improvement from 2025 and a step toward the company’s intermediate target of roughly 150 basis points.
For 2026, management revised its outlook for average deposits, average loans and average earning assets to reflect first-half reductions, but Newell said the revisions do not assume continued declines in the second half. The bank narrowed its net interest margin outlook to 2.6% to 2.7% and improved its noninterest expense outlook to a decline of 7% to 11% year-over-year. Eagle continues to expect noninterest income growth of 15% to 25% for the year.
C&I growth remains a bright spot Management pointed to commercial and industrial lending as an area of momentum. Newell said C&I loans increased 24% year-over-year, with diversified production and strong credit quality.
Evelyn Lee, chief C&I lending officer, said the bank has benefited from its reputation in the Washington metropolitan area and from hiring experienced bankers. Looking ahead, she said normalized C&I growth would likely be in the “high single digits, low double digits.”
Lee said the C&I strategy is focused on new primary relationships rather than participations, with treasury management growth serving as an indicator of deeper client relationships. She said typical C&I relationships are generally between $5 million and $10 million in exposure, while new production can range from about $7 million to $15 million or $20 million.
In commercial real estate, Ryan Riel, chief real estate lending officer, said the bank expects to stabilize balances in the second half of 2026 but does not expect growth before year-end. Curley added that the company aims to “arrest the decline in the balance sheet” in the back half of the year and return to a growth footing in 2027.
Capital and turnaround priorities Curley said capital is another area under review, though he did not provide specific targets or potential actions. He described capital as “a strategic asset” and said the company is evaluating capital levels, flexibility and ways to create long-term shareholder value.
He also said Eagle is recruiting a new chief credit officer and beginning the search for a chief human resources officer following a planned retirement. The bank plans to continue investing in technology, processes and capabilities while remaining disciplined on expenses.
Asked by analysts about the most immediate opportunity at Eagle, Curley said the key task is stopping the balance-sheet decline. “I’ve never seen a bank shrink to greatness,” he said. He added that the company has opportunities to resume disciplined CRE lending, expand business banking and improve branch productivity.
Curley closed the call by saying his objective is not to remake the company, but to strengthen it. “My objective isn’t to create a different EagleBank,” he said. “It’s to build a stronger EagleBank.”
About Eagle Bancorp (NASDAQ:EGBN)Eagle Bancorp, Inc is the bank holding company for EagleBank, a commercial bank headquartered in Bethesda, Maryland. Since its founding in 1998, the company has focused on serving businesses and consumers in the Washington, DC metropolitan area. EagleBank operates a network of full-service branches and commercial banking centers, providing personalized financial solutions to corporate, nonprofit, real estate and individual clients.
The company's product portfolio includes commercial real estate lending, construction and land development financing, small business administration (SBA) loans, commercial and industrial credit facilities, and residential mortgage loans.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
Should You Invest $1,000 in Eagle Bancorp Right Now?Before you consider Eagle Bancorp, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Eagle Bancorp wasn't on the list.
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Old Second Bancorp NASDAQ: OSBC reported higher second-quarter earnings and an expanded net interest margin, while management said credit metrics improved despite elevated charge-offs tied largely to previously discussed problem loans.
The Aurora, Illinois-based bank holding company posted GAAP net income of $28.2 million, or $0.54 per diluted share, for the second quarter of 2026, Chairman, President and CEO James Eccher said on the company’s earnings call. Return on assets was 1.65%, while return on average tangible common equity was 15.58%. The company’s tax-equivalent efficiency ratio was 51.72%.
Excluding certain adjusting items, including mortgage servicing rights valuation adjustments and costs related to the 2025 acquisition of Bancorp Financial and its Evergreen Bank Group subsidiary, Old Second earned $28.7 million, or $0.55 per diluted share, Eccher said.
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Margin Expands as Net Interest Income Rises Chief Operating Officer and Chief Financial Officer Brad Adams said net interest income increased to $83.3 million from $81.1 million in the prior quarter and was up $19 million, or nearly 30%, from the year-earlier period.
The bank reported a tax-equivalent net interest margin of 5.23% for the second quarter, up 9 basis points from the linked quarter and 38 basis points from the prior-year quarter. Eccher said the increase reflected higher average balances, lower average time deposit balances, higher short-term rates and repricing of lower-yielding loans originated in 2021 and 2022.
Adams characterized the margin as “ridiculously good,” noting that tax-equivalent loan yields increased 12 basis points and securities yields rose 6 basis points during the quarter. He said the improvement was partly driven by increases in rates along the curve, particularly SOFR and overnight index swap rates, following geopolitical instability.
Total cost of deposits was 100 basis points in the second quarter, compared with 105 basis points in the first quarter and 84 basis points in the second quarter of 2025. Adams said competition for both loans and deposits remains “very robust,” with deposit competition running “pretty significantly above” the Fed funds and Treasury curves.
Looking ahead, Adams said margin trends still appeared stable in the near term, though he suggested the bank could give back a few basis points. In response to an analyst question, he estimated the margin could be around 5.18% in the third quarter and 5.15% in the fourth quarter, while cautioning that market conditions could change.
Loan Growth Returns After Seasonal Declines Total loans increased $60.6 million during the quarter, partially reversing seasonal declines from the first quarter. The loan-to-deposit ratio rose to 96.4% as of June 30, compared with 93.2% at the end of the prior quarter and 83.3% a year earlier.
Adams said loan origination activity reflected a seasonal increase, and the pipeline remained strong. However, he said tariffs and uncertainty related to the war in Iran had caused some borrowers to remain cautious about capital projects. He maintained the company’s full-year loan growth target in the low- to mid-single-digit range, with “a little bit more of a bias” toward the low-single-digit level.
Eccher said second-quarter loan growth came from several areas, including middle-market commercial and industrial lending, commercial real estate, sponsored finance and the powersports portfolio. He said competition remains “fierce,” but management is encouraged by current pipelines.
Charge-Offs Elevated, But Credit Metrics Improve Old Second recorded $9.2 million of net loan charge-offs in the second quarter. Eccher said the charge-offs primarily included two credits that management had discussed on the previous quarter’s call: a $3 million commercial and industrial charge-off related to a warehousing and distribution business, and a $2.8 million commercial real estate investor charge-off tied to an office property in a western suburb of Chicago.
The office property was an acquired credit that had been restructured into an A/B note in 2023 due to challenges in the office market. Eccher said the B note had previously been fully secured by collateral value but recently experienced a decline in value, leading management to conclude its collectibility was in doubt and charge it off. He added that the property continues to generate enough cash flow to support the A note at this time.
Net charge-offs related to the powersports business totaled $2.8 million, down $1.1 million from the prior quarter. Eccher said seasonal patterns typically result in higher usage of ATVs and UTVs during the spring and summer, improving collateral outcomes, and he noted that the business’s contribution margin remained strong.
Despite the charge-offs, management emphasized improvement in broader credit trends. Non-performing loans declined by $19 million, classified assets fell by $16.5 million and non-performing assets decreased 25% during the quarter, Eccher said. Special mention loans declined by $12.5 million, from about $40 million to $27 million, a reduction he called an encouraging leading indicator.
The allowance for credit losses on loans stood at $70.4 million, or 1.34% of loans, at June 30, compared with $72.1 million, or 1.39% of loans, at March 31. Eccher said unemployment and GDP assumptions used in the bank’s loss modeling were largely unchanged from the prior quarter, while tariff volatility and the war in Iran continued to be considered in the model.
On the outlook for credit, Eccher said the company is “really close to having a very clean quarter on the credit front,” though it is still working through a couple of credits. He said charge-offs could move back toward a 35- to 45-basis-point range, while acknowledging that the powersports portfolio may keep levels somewhat higher.
Fee Income, Expenses and Capital Non-interest income increased $631,000, or 5%, from the prior quarter and rose $2.4 million, or 21.7%, from the year-earlier period. Eccher said wealth management had a strong quarter, with income up $245,000 from the linked quarter and $525,000 from the prior-year period. Mortgage banking income increased $97,000 sequentially and $543,000 from a year earlier, primarily due to mortgage servicing rights mark-to-market valuations.
Total non-interest expense increased $1 million from the prior quarter, driven by higher officer incentive and employee insurance costs, elevated OREO expenses and GAP insurance refunds related to legacy Evergreen activity. Adams said he did not see material expense pressures from upcoming investments, saying capital projects are already reflected in the run rate.
Tangible book value per share increased to $14.77 from $14.35 in the prior quarter. The tangible equity ratio rose to 11.19% from 11.07%, while Common Equity Tier 1 capital was 13.28%, up from 13.13% in the first quarter but down from a year earlier due mainly to stock repurchases.
Adams said Old Second repurchased 732,000 shares during the second quarter at an average price of $21.08, reducing equity by $15.4 million and adding about $0.01 to earnings per share. Year-to-date repurchases totaled 1.9 million shares at an average price of $20.31. After exhausting its prior authorization, the board approved a new plan to repurchase about 2.5 million shares through June 30, 2027.
Adams said management expects to remain “active and aggressive” with buybacks given the company’s capital position. He also said Old Second remains interested in well-priced mergers and acquisitions that add to franchise value, though management currently has a bias toward smaller transactions.
Eccher closed the call by saying the bank is “cautiously optimistic” because of improved credit metrics and remains optimistic about loan growth and potential strategic growth opportunities.
About Old Second Bancorp (NASDAQ:OSBC)Old Second Bancorp, Inc is a bank holding company based in Aurora, Illinois, serving businesses and consumers through its primary subsidiary, Old Second National Bank. The company provides a broad range of commercial and retail banking services across the suburban Chicago marketplace, supported by a branch network and online platforms designed to meet the financial needs of local communities.
In its commercial banking division, Old Second offers lending solutions that include lines of credit, term loans, equipment financing and commercial real estate financing.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
Should You Invest $1,000 in Old Second Bancorp Right Now?Before you consider Old Second Bancorp, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Old Second Bancorp wasn't on the list.
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Quantum computing stocks spent late 2025 sprinting for the ceiling, but now they're rediscovering gravity. IonQ (IONQ -1.13%) is down 37% over the past month, and D-Wave Quantum (QBTS -1.01%) has fallen by 28% in the same period. Even shares of Nvidia (NVDA -1.40%), which doesn't directly compete in quantum computing despite significant indirect participation, have been drifting sideways as investors rebalance the artificial intelligence (AI) trade.
So are the two beaten-down pure plays worth buying on the dip, or is it better to just buy Nvidia?
Image source: Getty Images.
How the pure plays size up The first thing to know about IonQ and D-Wave is that they're both banking on the federal government as a major customer, both now and in the future, just like many other quantum computing businesses.
IonQ has over $100 million in Air Force Research Lab contracts, plus extensive DARPA and Oak Ridge work queued up. D-Wave has a $1.6 million National Science Foundation (NSF) grant, and a $100 million letter of intent for future spending under the Chips Act -- but that's not the same as an order from a paying customer, at least not yet.
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In terms of revenue, IonQ brought in $64.7 million in the first quarter of 2026, up 755% year over year, and raised its full-year guidance to between $260 million and $270 million. So it's not having much of a problem finding sources of growth, though there's still no timeline on when it might be profitable.
D-Wave's revenue was only $2.9 million in the same quarter, down 81% compared to a year ago, thanks to a one-time $12.6 million system sale last year, though its Q1 bookings jumped to $33.4 million. It presently looks highly reliant on the proposed Chips Act funding to fill out its top line, as its core revenue isn't growing much, even after taking into account the big sale from 2025.
Both of these companies are highly risky investments, and they might not ever be profitable enough to return capital to investors.
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For the moment, they're more reliant on narratives and catalysts than their progress toward profitability, as even starting down that road is at least a handful of years into the future for both. Among these two, IonQ thus has a fair bit more traction and $3.1 billion in cash and equivalents, whereas D-Wave only has $588 million.
Why Nvidia is the smarter call Nvidia isn't as exposed to quantum computing as IonQ or D-Wave; its intention is to create foundational resources that will drive demand for its graphics processing units (GPUs) and enable it to market various software and hardware solutions specifically for hybrid quantum-classical setups.
To that end, in October 2025, the company launched NVQLink, an interconnect that links quantum processors to GPUs for real-time error correction and hybrid workloads. Seventeen quantum hardware developers signed on, including IonQ and several of its competitors. CUDA-Q, Nvidia's open-source hybrid programming platform, is the control surface for NVQLink.
The effect of this positioning is that every serious quantum program now needs racks of Blackwell GPUs alongside its qubits. Nvidia doesn't have to pick a quantum winner to build hardware for, because they all already run on its hardware.
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But, as good as that sounds, it won't move the needle for Nvidia stock in the near term.
It generated $81.6 billion in revenue in the fiscal first quarter of 2027, with $75.2 billion of that sum from its data center segment. The entire quantum computing industry is thus, for Nvidia, mostly optionality that's bolted onto a business already generating extraordinary sales and cash flow. It's seeding the growth markets that it wants to sell to today at a small scale, and potentially at a much larger scale in the future.
Therefore, Nvidia is going to win in quantum computing, whether IonQ, D-Wave, one of their peers, or none of them end up solving their various major technical hurdles. It's almost certainly a better purchase than either of the two pure plays, and it's much lower-risk in comparison.
If you are looking for a stock that has a solid history of beating earnings estimates and is in a good position to maintain the trend in its next quarterly report, you should consider Prosperity Bancshares (PB - Free Report) . This company, which is in the Zacks Banks - Southwest industry, shows potential for another earnings beat.
This financial holding company has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the past two quarters of 3.89%.
For the most recent quarter, Prosperity Bancshares was expected to post earnings of $1.41 per share, but it reported $1.5 per share instead, representing a surprise of 6.38%. For the previous quarter, the consensus estimate was $1.44 per share, while it actually produced $1.46 per share, a surprise of 1.39%.
Price and EPS Surprise
For Prosperity Bancshares, estimates have been trending higher, thanks in part to this earnings surprise history. And when you look at the stock's positive Zacks Earnings ESP (Expected Surprise Prediction), it's a great indicator of a future earnings beat, especially when combined with its solid Zacks Rank.
Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Prosperity Bancshares currently has an Earnings ESP of +1.76%, which suggests that analysts have recently become bullish on the company's earnings prospects. This positive Earnings ESP when combined with the stock's Zacks Rank #3 (Hold) indicates that another beat is possibly around the corner. We expect the company's next earnings report to be released on July 29, 2026.
Investors should note, however, that a negative Earnings ESP reading is not indicative of an earnings miss, but a negative value does reduce the predictive power of this metric.
Many companies end up beating the consensus EPS estimate, though this is not the only reason why their shares gain. Additionally, some stocks may remain stable even if they end up missing the consensus estimate.
Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering Advance Auto Parts (AAP - Free Report) , which belongs to the Zacks Automotive - Retail and Wholesale - Parts industry.
This auto parts retailer has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 103.60%.
For the most recent quarter, Advance Auto Parts was expected to post earnings of $0.39 per share, but it reported $0.77 per share instead, representing a surprise of 97.44%. For the previous quarter, the consensus estimate was $0.41 per share, while it actually produced $0.86 per share, a surprise of 109.76%.
Price and EPS Surprise
For Advance Auto Parts, estimates have been trending higher, thanks in part to this earnings surprise history. And when you look at the stock's positive Zacks Earnings ESP (Expected Surprise Prediction), it's a great indicator of a future earnings beat, especially when combined with its solid Zacks Rank.
Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Advance Auto Parts currently has an Earnings ESP of +8.04%, which suggests that analysts have recently become bullish on the company's earnings prospects. This positive Earnings ESP when combined with the stock's Zacks Rank #2 (Buy) indicates that another beat is possibly around the corner.
With the Earnings ESP metric, it's important to note that a negative value reduces its predictive power; however, a negative Earnings ESP does not indicate an earnings miss.
Many companies end up beating the consensus EPS estimate, though this is not the only reason why their shares gain. Additionally, some stocks may remain stable even if they end up missing the consensus estimate.
Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Key Takeaways Acute Care and Behavioral Health growth to support UHS' Q2 revenues and admissions.Universal Health faces higher labor, benefits and supply costs that could pressure quarterly margins.Acute Care revenues are projected to rise 6.1%, with operating income expected to increase 17.5%. Hospital operator Universal Health Services, Inc. (UHS - Free Report) is set to report second-quarter 2026 results on July 27, 2026, after the closing bell. The Zacks Consensus Estimate for the to-be-reported quarter’s earnings is currently pegged at $5.66 per shareon revenues of $4.52 billion.
The second-quarter earnings estimate witnessed no movement over the past 60 days. The bottom-line projection indicates a year-over-year increase of 5.8%. The Zacks Consensus Estimate for quarterly revenues suggests year-over-year growth of 5.5%.
Image Source: Zacks Investment Research
For the full-year 2026, the Zacks Consensus Estimate for Universal Health’s revenues is pegged at $18.54 billion, implying a rise of 6.8% year over year. Meanwhile, the consensus mark for full-year EPS is pegged at $23.44, implying growth of 7.8% on a year-over-year basis.
Universal Health beat the consensus estimate for earnings in three of the last four quarters and missed once, with the average surprise being 9.5%. This is depicted in the figure below.
Q2 Earnings Whispers for UHSOur proven model does not conclusively predict an earnings beat for the company this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the odds of an earnings beat. That’s not the case here.
UHS currently has an Earnings ESP of 0.00% and a Zacks Rank #4 (Sell). You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
What’s Shaping UHS’ Q2 Results?Universal Health's performance is likely to have been boosted by higher patient days and admissions in both its Acute Care Hospital Services and Behavioral Health Care Services segments.
The Zacks Consensus Estimate for net revenues in the Acute Care Hospital Services segment is pegged at almost $2.55 billion, indicating 6.1% year-over-year growth. The consensus mark for the unit’s same-facility adjusted admissions indicates 2.8% growth from the prior-year quarter.
The Zacks Consensus Estimate for net revenues in the Behavioral Health Care Services segment is pegged at $1.98 billion, indicating a 5.6% increase from the prior-year quarter. The consensus estimate for the unit’s admissions indicates a year-over-year increase of 2.8%.
The Zacks Consensus Estimate for operating income from Acute Care Hospital Services indicates 17.5% year-over-year growth, while the same for Behavioral Health Care Services suggests a 0.9% decrease.
The positives are likely to have been partially offset by rising total operating expenses by nearly 6%, due to higher salaries, wages and benefits, as well as increased costs for supplies in the second quarter, making an earnings beat uncertain. We anticipate salaries, wages and benefits to increase nearly 4% year over year, while other operating costs are expected to escalate 9.3%.
Stocks That Warrant a LookWhile an earnings beat looks uncertain for Universal Health, here are some companies from the broader Medical space that you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat this time around:
ProMIS Neurosciences, Inc. (PMN - Free Report) has an Earnings ESP of +13.30% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for ProMIS’ bottom line for the to-be-reported quarter of a loss of $1.45 indicates an 80% year-over-year improvement. It has witnessed one upward revision against no downward movement over the past 60 days.
Cardinal Health, Inc. (CAH - Free Report) has an Earnings ESP of +1.24% and a Zacks Rank of 2.
The Zacks Consensus Estimate for Cardinal Health’s bottom line for the to-be-reported quarter suggests 16.4% year-over-year growth. Its earnings beat estimates in each of the past four quarters, with an average surprise of 10.3%. CAH’s revenues for the to-be-reported quarter are pegged at $65.61 billion, a 9.1% increase from the year-ago period.
Alcon Inc. (ALC - Free Report) has an Earnings ESP of +3.13% and a Zacks Rank of 3.
The Zacks Consensus Estimate for Alcon’s bottom line for the to-be-reported quarter indicates a 1.3% increase from a year ago. The company’s earnings beat estimates in three of the trailing four quarters and missed once, with an average surprise of 3.7%. The consensus estimate for ALC’s revenues is pegged at $2.77 billion, signaling a 7.3% increase.
