Pan American Silver (PAAS - Free Report) came out with quarterly earnings of $0.73 per share, missing the Zacks Consensus Estimate of $0.84 per share. This compares to earnings of $0.43 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -13.10%. A quarter ago, it was expected that this silver mining company would post earnings of $1.06 per share when it actually produced earnings of $1.09, delivering a surprise of +2.83%.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
Pan American Silver, which belongs to the Zacks Mining - Silver industry, posted revenues of $1.12 billion for the quarter ended June 2026, missing the Zacks Consensus Estimate by 3.36%. This compares to year-ago revenues of $811.9 million. The company has topped consensus revenue estimates just once over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Pan American Silver shares have lost about 0% since the beginning of the year versus the S&P 500's gain of 12.9%.
What's Next for Pan American Silver?While Pan American Silver has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Pan American Silver was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.06 on $1.3 billion in revenues for the coming quarter and $4.11 on $5 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Mining - Silver is currently in the bottom 17% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the broader Zacks Basic Materials sector, Sigma Lithium Corporation (SGML - Free Report) , has yet to report results for the quarter ended June 2026. The results are expected to be released on August 14.
This company is expected to post quarterly earnings of $0.15 per share in its upcoming report, which represents a year-over-year change of +188.2%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Sigma Lithium Corporation's revenues are expected to be $54 million, up 219.7% from the year-ago quarter.
Kroger uzavřel nejméně tři desítky obchodů v rámci přestavby sítě, kterou oznámil loni a která má do konce roku 2026 zavřít 60 lokalit. Firma to zdůvodňuje snahou fungovat efektivněji a dlouhodobě posílit byznys.
Kroger has closed at least three dozen stores since announcing plans last year to shutter 60 locations that were not "delivering sustainable results" by the end of 2026.
The Cincinnati-based grocery giant did not release a full list of stores or banners slated for closure, but online searches listed 39 locations across nine banners as no longer operating. Local reports also confirmed that many of the locations were part of the broader store overhaul.
As of January 2026, Kroger operated 2,697 supermarkets across 35 states under roughly 20 banners, including Fred Meyer, Fry’s Food and Drug, Harris Teeter, Jay C, King Soopers, Mariano’s, Pick ’n Save, QFC and Ralphs, according to a Securities and Exchange Commission filing.
The company said the closures are intended to help it "run more efficiently and ensure the long-term health of our business," according to FOX 26 Houston, which reported that two Houston-area locations were slated to close in April.
KROGER TO BUY POPULAR GROCERY AND PHARMACY RETAILER IN $1.65B DEAL
A Kroger grocery store in Dallas. (Shelby Tauber/Bloomberg via Getty Images, File / Getty Images)
The closures come as Kroger announced plans last month to acquire regional grocery chain Giant Eagle for $1.65 billion, which would add another 197 supermarkets and 11 standalone pharmacies across northern Ohio, western Pennsylvania, West Virginia, Maryland and Indiana.
The acquisition is expected to strengthen Kroger’s presence across several Midwestern and Mid-Atlantic markets.
At least three of the impacted locations were or are expected to be replaced by Kroger Marketplace stores as part of the company’s efforts to consolidate operations. Kroger Marketplace stores are larger-format locations that offer an expanded selection of non-grocery merchandise, including clothing, toys, home goods and furniture.
The impacted locations include:
KrogerAtlanta, Georgia — 2452 Morosgo Way NEBrookhaven, Georgia — 3855 Buford Hwy. NEDecatur, Georgia — 3479 Memorial Dr.Alpharetta, Georgia — 11877 Douglas Rd.Peoria, Illinois — 3311 N Sterling Ave.South Bend, Indiana — 4526 W Western Ave.Elkhart, Indiana — 901 Johnson St.Louisville, Kentucky — 4211 S 3rd St.Bossier City, Louisiana — 4100 Barksdale BlvdKingsport, Tennessee — 1664 E Stone Dr.Houston, Texas — 239 W 20th St.Houston, Texas — 9325 Katy Fwy.Houston, Texas — 2300 Gessner Rd.McKinney, Texas — 2901 Lake Forest Drive (a new store is planned to replace this location nearby in 2027)Spring, Texas — 6060 Farm to Market 2920Charlottesville, Virginia — 1904 Emmet St. NAbingdon, Virginia — 466 Cummings St.Gassaway, West Virginia — 2908 State St.South Charleston, West Virginia — 5 River Walk Mall (consolidated last June into a new Kroger Marketplace at 3060 Ray Park Blvd.)Dunbar, West Virginia — 981 Dunbar Village (consolidated last June into a new Kroger Marketplace at 3060 Ray Park Blvd.)SEPHORA JOINS WALMART, TARGET WITH NEW ‘QUIET HOURS’ SHOPPING EXPERIENCE
Giant Eagle operates about 197 supermarkets and 11 standalone pharmacies across northern Ohio, western Pennsylvania, West Virginia, Maryland and Indiana. (Allison Farrand/Bloomberg via Getty Images, File / Getty Images)
Fred MeyerTacoma, Washington — 7250 Pacific Ave.Fry’s Food and DrugMesa, Arizona — 1915 S Power Rd.Harris TeeterArlington, Virginia — 950 S George Mason Dr.Arlington, Virginia — 3600 S Glebe Rd. W100McLean, Virginia — 8200 Crestwood Heights Dr.Rockville, Maryland — 11845 Old Georgetown Rd.Raleigh, North Carolina — 5563 Western Blvd., Suite 6ACharlotte, North Carolina — 5706 Wyalong Dr.Ticker Security Last Change Change % KR THE KROGER CO. 56.06 -0.19 -0.34% Jay C Food StoresShoals, Indiana — 201 High St.King SoopersCentennial, Colorado — 5050 E Arapahoe Rd.Mariano’sBuffalo Grove, Illinois — 450 W Half Day Rd.Northbrook, Illinois — 2323 Capital Dr.Bloomingdale, Illinois — 144 S Gary Ave. At least six Harris Teeter locations recently closed as part of Kroger's broader company overhaul. (Laura Kalcheff/Corey Lowenstein/Raleigh News & Observer/Tribune News Service via Getty Images, File / Getty Images)
Pick ’n SaveGlendale, Wisconsin — 1735 W Silver Spring Dr.Milwaukee, Wisconsin — 3701 S 27th St.Milwaukee, Wisconsin — 2355 N 35th St.Oak Creek, Wisconsin — 2320 W Ryan Rd.South Milwaukee, Wisconsin — 2931 S Chicago Ave.QFCMill Creek, Washington — 926 164th St. SECLICK HERE TO GET FOX BUSINESS ON THE GO
FOX Business reached out to Kroger for more information.
Fossil Group (FOSL - Free Report) came out with a quarterly loss of $0.13 per share versus the Zacks Consensus Estimate of a loss of $0.29. This compares to a loss of $0.1 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +55.17%. A quarter ago, it was expected that this watch and accessories maker would post a loss of $0.22 per share when it actually produced a loss of $0.03, delivering a surprise of +86.36%.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
Fossil Group, which belongs to the Zacks Retail - Apparel and Shoes industry, posted revenues of $209.7 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 4.69%. This compares to year-ago revenues of $220.4 million. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Fossil Group shares have added about 39.4% since the beginning of the year versus the S&P 500's gain of 12.9%.
What's Next for Fossil Group?While Fossil Group has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Fossil Group was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.02 on $247.2 million in revenues for the coming quarter and -$0.15 on $954.8 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Retail - Apparel and Shoes is currently in the top 43% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, Gap (GAP - Free Report) , has yet to report results for the quarter ended July 2026. The results are expected to be released on August 27.
This clothing chain is expected to post quarterly earnings of $0.50 per share in its upcoming report, which represents a year-over-year change of -12.3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Gap's revenues are expected to be $3.72 billion, down 0.1% from the year-ago quarter.
EnerSys (ENS - Free Report) came out with quarterly earnings of $3.66 per share, beating the Zacks Consensus Estimate of $2.82 per share. This compares to earnings of $2.08 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +29.79%. A quarter ago, it was expected that this maker of industrial batteries would post earnings of $3 per share when it actually produced earnings of $3.19, delivering a surprise of +6.33%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
EnerSys, which belongs to the Zacks Manufacturing - Electronics industry, posted revenues of $935.6 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 1.39%. This compares to year-ago revenues of $893 million. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
EnerSys shares have added about 26.9% since the beginning of the year versus the S&P 500's gain of 12.9%.
What's Next for EnerSys?While EnerSys has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for EnerSys was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $2.96 on $972.84 million in revenues for the coming quarter and $12.10 on $3.89 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Manufacturing - Electronics is currently in the top 35% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the broader Zacks Industrial Products sector, ClearSign Technologies (CLIR - Free Report) , has yet to report results for the quarter ended June 2026. The results are expected to be released on August 19.
This combustion systems technology company is expected to post quarterly loss of $0.25 per share in its upcoming report, which represents a year-over-year change of +16.7%. The consensus EPS estimate for the quarter has been revised 6.8% higher over the last 30 days to the current level.
ClearSign Technologies' revenues are expected to be $0.61 million, up 369.2% from the year-ago quarter.
In the latest trading session, Jabil (JBL - Free Report) closed at $366.16, marking a +2.68% move from the previous day. This change outpaced the S&P 500's 0.26% gain on the day. Elsewhere, the Dow saw a downswing of 0.04%, while the tech-heavy Nasdaq appreciated by 0.54%.
The electronics manufacturer's shares have seen an increase of 9.12% over the last month, surpassing the Computer and Technology sector's loss of 0.41% and the S&P 500's gain of 2.13%.
The upcoming earnings release of Jabil will be of great interest to investors. It is anticipated that the company will report an EPS of $4.05, marking a 23.1% rise compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $9.61 billion, indicating a 16.51% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $12.74 per share and revenue of $34.97 billion, which would represent changes of +30.67% and +17.33%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Jabil. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Jabil is currently sporting a Zacks Rank of #2 (Buy).
Investors should also note Jabil's current valuation metrics, including its Forward P/E ratio of 27.99. This valuation marks a discount compared to its industry average Forward P/E of 28.36.
Meanwhile, JBL's PEG ratio is currently 0.98. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. JBL's industry had an average PEG ratio of 0.8 as of yesterday's close.
The Electronics - Manufacturing Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 7, which puts it in the top 3% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Enovix vykázal za čtvrtletí ztrátu 0,13 USD na akcii oproti odhadu ztráty 0,14 USD a tržby 9,02 milionu USD, obojí lepší než odhad. Tržby meziročně vzrostly z 7,47 milionu USD.
Enovix Corporation (ENVX - Free Report) came out with a quarterly loss of $0.13 per share versus the Zacks Consensus Estimate of a loss of $0.14. This compares to a loss of $0.13 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +7.14%. A quarter ago, it was expected that this company would post a loss of $0.15 per share when it actually produced a loss of $0.14, delivering a surprise of +6.67%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Enovix Corporation, which belongs to the Zacks Electronics - Miscellaneous Products industry, posted revenues of $9.02 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 6.89%. This compares to year-ago revenues of $7.47 million. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Enovix Corporation shares have lost about 33.9% since the beginning of the year versus the S&P 500's gain of 12.9%.
What's Next for Enovix Corporation?While Enovix Corporation has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Enovix Corporation was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.15 on $10.38 million in revenues for the coming quarter and -$0.57 on $41.11 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Electronics - Miscellaneous Products is currently in the top 20% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, Beam Global (BEEM - Free Report) , has yet to report results for the quarter ended June 2026.
This company is expected to post quarterly loss of $0.17 per share in its upcoming report, which represents a year-over-year change of +39.3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Beam Global's revenues are expected to be $8 million, up 13.2% from the year-ago quarter.
Grocery Outlet Holding Corp. (GO - Free Report) came out with quarterly earnings of $0.2 per share, beating the Zacks Consensus Estimate of $0.12 per share. This compares to earnings of $0.23 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +66.67%. A quarter ago, it was expected that this supermarket company selling discount, overstocked and closeout products would post earnings of $0.02 per share when it actually produced earnings of $0.05, delivering a surprise of +150%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Grocery Outlet, which belongs to the Zacks Consumer Products - Staples industry, posted revenues of $1.19 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 2.24%. This compares to year-ago revenues of $1.18 billion. The company has topped consensus revenue estimates two times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Grocery Outlet shares have lost about 2.7% since the beginning of the year versus the S&P 500's gain of 12.9%.
What's Next for Grocery Outlet?While Grocery Outlet has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Grocery Outlet was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.18 on $1.16 billion in revenues for the coming quarter and $0.50 on $4.63 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Consumer Products - Staples is currently in the bottom 14% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the broader Zacks Consumer Staples sector, Campbell's (CPB - Free Report) , is yet to report results for the quarter ended July 2026.
This maker of canned soup, Pepperidge Farm cookies and V8 juice is expected to post quarterly earnings of $0.40 per share in its upcoming report, which represents a year-over-year change of -35.5%. The consensus EPS estimate for the quarter has been revised 7.3% lower over the last 30 days to the current level.
Campbell's' revenues are expected to be $2.16 billion, down 7.1% from the year-ago quarter.
Farmers & Merchants Bancorp zvýšila čtvrtletní hotovostní dividendu na 5,60 USD na akcii, což je o 4,7 % více než předchozí čtvrtletí. Výplata bude 1. října 2026.
LODI, Calif., Aug. 12, 2026 (GLOBE NEWSWIRE) -- Farmers & Merchants Bancorp (OTCQX: FMCB) (the “Company” or “FMCB”), the parent company of Farmers & Merchants Bank of Central California (the “Bank” or “F&M Bank”), declared a quarterly cash dividend of $5.60 per share, up 4.7% from $5.35 for the previous quarter which was paid on July 1, 2026. The cash dividend is payable on October 1, 2026, to shareholders of record on September 11, 2026. Based on the Company's financial performance through June 30, 2026, net income over the trailing twelve months was $96.3 million compared with $90.0 million for the same trailing period a year earlier. Diluted earnings per share over the trailing twelve months totaled $139.94, up 10.30% compared with $126.87 for the same trailing period a year ago. This dividend represents a 15.4% payout ratio. This year marks the 91st consecutive year that the Company has paid cash dividends and the 61st consecutive year the Company has increased dividends. As a result of the consistency of the Company's cash dividends over many decades, the Company remains a member of a select group of only 58 publicly traded companies referred to as “Dividend Kings” by Sure Dividend where the Company is currently ranked 17t h.
OptimizeRx Corp. (OPRX - Free Report) came out with quarterly earnings of $0.16 per share, beating the Zacks Consensus Estimate of $0.11 per share. This compares to earnings of $0.24 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +45.46%. A quarter ago, it was expected that this company would post earnings of $0.01 per share when it actually produced earnings of $0.14, delivering a surprise of +1300%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
OptimizeRx, which belongs to the Zacks Computer - Software industry, posted revenues of $20.5 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 0.11%. This compares to year-ago revenues of $29.19 million. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
OptimizeRx shares have lost about 43.6% since the beginning of the year versus the S&P 500's gain of 12.9%.
What's Next for OptimizeRx?While OptimizeRx has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for OptimizeRx was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.24 on $25.92 million in revenues for the coming quarter and $0.91 on $97.89 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Computer - Software is currently in the top 29% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Synopsys (SNPS - Free Report) , another stock in the same industry, has yet to report results for the quarter ended July 2026. The results are expected to be released on August 26.
This maker of software used to test and develop chips is expected to post quarterly earnings of $3.68 per share in its upcoming report, which represents a year-over-year change of +8.6%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Synopsys' revenues are expected to be $2.44 billion, up 40.3% from the year-ago quarter.
Nano Nuclear Energy Inc. (NNE - Free Report) came out with a quarterly loss of $0.19 per share versus the Zacks Consensus Estimate of a loss of $0.28. This compares to a loss of $0.19 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +32.14%. A quarter ago, it was expected that this company would post a loss of $0.32 per share when it actually produced a loss of $0.18, delivering a surprise of +43.75%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Nano Nuclear Energy Inc., which belongs to the Zacks Alternative Energy - Other industry, posted revenues of $0.21 million for the quarter ended June 2026, missing the Zacks Consensus Estimate by 78.6%. This compares to zero revenues a year ago.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Nano Nuclear Energy Inc. shares have lost about 19.3% since the beginning of the year versus the S&P 500's gain of 12.9%.
What's Next for Nano Nuclear Energy Inc.?While Nano Nuclear Energy Inc. has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Nano Nuclear Energy Inc. was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.36 on $1 million in revenues for the coming quarter and -$0.93 on $2 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Alternative Energy - Other is currently in the bottom 35% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, FuelCell Energy (FCEL - Free Report) , is yet to report results for the quarter ended July 2026.
This fuel cell power plant maker is expected to post quarterly loss of $0.39 per share in its upcoming report, which represents a year-over-year change of +59%. The consensus EPS estimate for the quarter has been revised 16.2% higher over the last 30 days to the current level.
FuelCell Energy's revenues are expected to be $39.12 million, down 16.3% from the year-ago quarter.
Cerebras Systems oznámila rekordní tržby za 2. čtvrtletí ve výši 209,9 mil. USD a zvýšila celoroční výhled tržeb na 880 až 890 mil. USD. Firma zároveň dál rozšiřuje kapacitu datacenter i výrobu.
AMD and Cerebras Create A New Blueprint For HardwareCerebras Systems NASDAQ: CBRS reported record second-quarter core revenue and raised its full-year outlook, as the AI infrastructure company said it is expanding data-center capacity, manufacturing output and customer deployments to support anticipated growth beginning in 2027.
Chief Executive Officer Andrew Feldman said the company beat its guidance for core revenue, core gross margin and core operating margin during the quarter, which also included the completion of Cerebras’ public offering. Management characterized 2026 as a “foundation-building year” as it prepares to serve more than $25 billion in remaining performance obligations, or RPO.
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CrowdStrike’s Cerebras Deal Puts Its AI Security Strategy to the Test“We delivered record core revenue and beat guidance on all metrics,” Feldman said. He added that the company expects to more than triple core revenue in 2027 and continue growing at multiples in subsequent years, based on progress in capacity, technology and customer additions.
Revenue Growth and Updated Outlook Chief Financial Officer Bob Komin said second-quarter core revenue was $209.9 million, up 103% from a year earlier. Core cloud and other services revenue rose 287% year over year to $127.7 million, while core hardware revenue increased 17% to $82.1 million.
AI Insider Activity: Are Sales Across 3 Key Stocks Noteworthy or Just Noise?Komin said cloud and services growth reflected the ramp of the company’s OpenAI deployment, greater usage from other cloud customers and timing related to hardware customers’ data-center expansions. He said the company has several late-stage hardware opportunities representing hundreds of millions of dollars, along with new cloud opportunities for 2027.
Core gross margin was 40.6%, up about 940 basis points from the prior-year quarter. Core cloud and other services gross margin was 41.8%, improving 1,600 basis points year over year. Core hardware gross margin was 38.8%, up 510 basis points from a year earlier. Core operating loss was $33.6 million, while core operating margin improved to negative 16% from negative 42% a year earlier. Management said sequential gross margin declined from 46.5% in the first quarter because Cerebras has temporarily rented back some of its systems from cloud customers to meet demand through its private cloud. Komin said this higher-cost rented capacity reduced second-quarter core gross margin by approximately 500 basis points.
The company expects the third quarter to be the low point for core gross margin before an anticipated improvement in the fourth quarter as it brings online more data centers using company-owned systems. Cerebras expects core gross margin to trend toward its target of more than 60% over time.
For the third quarter, Cerebras forecast core revenue of $214 million to $216 million, core gross margin of 38% to 40%, and core operating margin of negative 25% to negative 23%. For the full year, it raised its core revenue outlook to $880 million to $890 million, core gross margin guidance to 41% to 43%, and core operating margin guidance to negative 19% to negative 17%.
Capacity Build-Out Targets Data-Center Bottleneck Feldman said data-center space remains a bottleneck for both Cerebras and the wider AI industry. Over the past seven months, the company secured more than 600 megawatts of data-center capacity that is either operating now or contracted for delivery by the end of 2027. Its pipeline for further expansion is measured in gigawatts, he said.
The company listed capacity in Alabama, Dallas, Denver, Minneapolis, Santa Clara and Stockton, as well as sites in France, Finland, Manitoba, Montreal, Norway, Saskatchewan and Toronto.
Cerebras also said it is expanding manufacturing through Flex and Sanmina. Komin said manufacturing capacity was already four times above its level in the first half of 2025 and is expected to exceed a tenfold increase during 2026. The company has contracted facilities supporting an additional three to four times growth in 2027, Feldman said in response to an analyst question.
Management said its supply relationship with TSMC has secured wafers needed for planned growth. Feldman noted that Cerebras uses TSMC’s 5-nanometer node and does not use high-bandwidth memory, CoWoS packaging or 3-nanometer fabrication capacity, which he said reduces exposure to some industry supply constraints.
Inference Technology and Disaggregation Plans Feldman said Cerebras added support during the quarter for OpenAI’s GPT-5.6 Sol model and said the company can serve the model at ten times faster speed. He said supporting frontier models has given Cerebras additional insight that can inform its hardware and software roadmap.
The company also highlighted disaggregated inference partnerships with AMD and AWS. In a disaggregated setup, GPUs or other processors handle the prefill stage of inference, while Cerebras systems handle decode, the process of generating output tokens.
According to Feldman, the combined AMD Helios and Cerebras configuration is designed to maintain Cerebras’ speed while increasing throughput fivefold. He said higher throughput can increase tokens produced per system and per watt, potentially improving data-center economics and gross margins. Cerebras expects disaggregated inference using GPUs to be deployed and available in the fourth quarter, he said during the question-and-answer session.
The company plans to unveil its fourth-generation CS-4 system at its Supernova conference, while remaining on track to launch the CS-5 in the second half of 2027. Management expects new systems to double speed annually for the next several years and plans to increase throughput by more than 20 times over the next 18 months.
Customer Expansion and AWS Availability Feldman said Cerebras expects its offering to become generally available through AWS’s Amazon Bedrock platform in the first quarter of 2027. He said the company expects first hyperscaler revenue beginning in mid-2027, with a ramp through 2028 and beyond. The company’s $25.4 billion RPO at June 30 did not include backlog from AWS or other hyperscalers, management said.
Outside of OpenAI and hyperscalers, Cerebras signed six deals exceeding $30 million in the second quarter. The company cited new agreements with Figma, Cognition, Lovable, Block, AlphaSense, GSK and CrowdStrike.
Feldman said OpenAI is expected to remain a meaningful share of revenue next year, though AWS, coding companies and security applications are expected to become larger portions of the business over time. He also said the company sees emerging “neo-cloud” providers as a potentially important part of its business in 2027.
Cerebras ended the quarter with more than $8.6 billion in cash equivalents, restricted cash and marketable securities, along with an unused revolving credit facility of up to $850 million.
About Cerebras Systems (NASDAQ:CBRS)Cerebras Systems is a technology company focused on building artificial intelligence infrastructure, including hardware and software designed to accelerate deep learning and large-scale AI workloads. The company is best known for its wafer-scale processor architecture, which is intended to provide high-performance compute for training and inference applications.
In addition to its AI chips, Cerebras offers systems and related software tools that support researchers and enterprises working with machine learning models.
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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Virgin Galactic odložila první komerční lety do roku 2027 z dříve očekávaného konce roku 2026. Akcie po výsledcích v after-hours obchodování klesly o 14,55 %.
Virgin Galactic Holdings Inc (NYSE:SPCE) posted its second-quarter results after Wednesday’s closing bell. The company said that the first commercial space flights have been pushed into 2027, from the previously expected end of 2026.
SPCE stock is moving. Watch the price action here. Virgin Galactic Q2 Details Virgin Galactic reported quarterly losses of 50 cents per share, which beat the analyst consensus estimate for losses of 66 cents, according to Benzinga Pro data.
Quarterly revenue came in at $134,000. It beat the Street estimate of $127,000, but was down from $406,000 in the same period last year.
The company said that it expects free cash flow to improve beginning in the third quarter.
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“Our tranche of spaceflight expeditions priced at $750,000 was oversubscribed and booked out ahead of schedule, demonstrating strong demand from a wide range of customers. We expect to release a new tranche of spaceflight expeditions at higher price points this fall,” said CEO Michael Colglazier.
“Our first ship is now expected to enter commercial service in February 2027 rather than the fourth quarter of 2026, allowing additional time to complete avionics and systems installations. We expect to commence the flight test phase with this vehicle in October, and with our second spaceship planned to join the fleet in March 2027, we expect to deliver positive quarterly cash flow within 2027,” Colglazier added.
SPCE Stock Price Activity: According to data from Benzinga Pro, Virgin Galactic stock was down 14.55% to $2.82 in Wednesday’s extended trading.
Photo: Shutterstock
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Virgin Galactic (SPCE - Free Report) came out with a quarterly loss of $0.58 per share versus the Zacks Consensus Estimate of a loss of $0.6. This compares to a loss of $1.47 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +3.33%. A quarter ago, it was expected that this company would post a loss of $0.79 per share when it actually produced a loss of $0.81, delivering a surprise of -2.53%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Virgin Galactic, which belongs to the Zacks Aerospace - Defense industry, posted revenues of $0.13 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 34.00%. This compares to year-ago revenues of $0.41 million. The company has topped consensus revenue estimates two times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Virgin Galactic shares have added about 2.5% since the beginning of the year versus the S&P 500's gain of 12.9%.
What's Next for Virgin Galactic?While Virgin Galactic has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Virgin Galactic was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.64 on $0.19 million in revenues for the coming quarter and -$2.59 on $9.17 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Aerospace - Defense is currently in the top 30% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the broader Zacks Aerospace sector, AeroVironment (AVAV - Free Report) , has yet to report results for the quarter ended July 2026.
This maker of unmanned aircrafts is expected to post quarterly earnings of $0.34 per share in its upcoming report, which represents a year-over-year change of +6.3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
AeroVironment's revenues are expected to be $474.57 million, up 4.4% from the year-ago quarter.
Ford od roku 2030 přesune výrobu některých modelů Lincoln z Číny do USA. Šéf Jim Farley uvedl, že rozhodnutí urychlila cla a pravidla o propojených vozidlech.
The Lincoln Nautilus SUV is displayed at the Los Angeles Auto Show in Los Angeles, California U.S. November 29, 2017. REUTERS/Lucy Nicholson Purchase Licensing Rights, opens new tab
SummaryCompaniesFord plans to shift production of some Lincoln models to US from China beginning in 2030, CEO saysUS-produced models would be sold in US market, where China-built Lincoln Nautilus faces 52.5% tariffCEO Farley says tariffs drove Ford’s decision; rule banning some Chinese tech in US cars was also a factorDETROIT, Aug 12 (Reuters) - Ford Motor (F.N), opens new tab plans to move production of some Lincoln models from China to the U.S. beginning in 2030, Ford's CEO told Reuters on Wednesday, saying the move was difficult but necessary to strengthen the U.S. auto manufacturing base.
Gasoline-powered cars and electric vehicles imported from China are subject to hefty duties. The U.S. tariff on the Lincoln Nautilus, the main vehicle Ford imports from China, is 52.5%, Ford confirmed.
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“We made this decision as soon as the policy of the administration was set," Ford CEO Jim Farley said, referring to the tariffs. "We knew exactly what they wanted to do, and we knew exactly what it meant for Ford," Farley said in a joint interview with U.S. Commerce Secretary Howard Lutnick.
The U.S.-made Lincolns would be sold in the domestic market as part of a significant effort to scale up output, Farley said, although the company did not disclose where they would be produced.
Lutnick added: "Ford's got an edge. Domestic manufacturing has an edge."
Crosstown rival General Motors has announced it will move production of its Buick Envision to the U.S. from China starting in 2028.
Along with tariffs, automakers have faced restrictions under the Connected Vehicle Rule, which bans some Chinese technology and hardware in U.S. models. Farley said that both regulations prompted Ford to make the decision, although he pointed to tariffs as the driving factor.
Ford was one of several companies requesting authorization from the U.S. Commerce Department to continue selling vehicles potentially restricted under the rule. Automakers denied an authorization, such as EV company Polestar, face bans from selling certain products in the U.S. market.
A spokesperson for the Dearborn, Michigan-based automaker said on Wednesday that, after discussions with the Commerce Department, it realized the Lincoln Nautilus no longer needed an authorization to sell in the U.S.
The company had previously said the Nautilus software was developed in the U.S. but installed into the vehicle in China, requiring government approval to continue selling it in the United States. Ford sold about 34,000 Nautilus vehicles in the U.S. last year.
U.S. lawmakers have sought to further tighten prohibitions beyond those introduced in the Connected Vehicle Rule. One such push, approved by the U.S. Senate Commerce Committee in July, would bar companies that are more than 15% owned by Chinese entities from selling vehicles in the United States. If implemented, it would prevent Mercedes-Benz from selling new vehicles in the U.S.
Ford said the move announced on Wednesday builds on Lincoln's U.S. production base. Lincoln assembles the Navigator at a plant in Louisville, Kentucky, and the Aviator at the Chicago Assembly Plant, and exports both models to markets including Canada, Mexico and the Middle East.
Reporting by Nora Eckert; Editing by Rod Nickel and Edmund Klamann
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Nora Eckert reports on the automotive industry from Detroit. She covers Ford, GM, Stellantis and the United Auto Workers, with a focus on the industry's transition to EVs. She was previously a reporter for The Wall Street Journal in Detroit, where she broke news on major automakers and the UAW. She was earlier part of a WSJ investigations team that was recognized as a finalist for the 2021 Pulitzer Prize. Nora began her career as an investigative reporter with the Rochester Post Bulletin in Minnesota, where she focused on the state's organ transplant system and prisons.
Chevron ve 2. čtvrtletí snížil dluh o rekordních 8,4 miliardy USD a zlepšil poměr čistého dluhu k CFFO na 0,6x z 1,3x. Současně utratil 6,5 miliardy USD za odkupy akcií a dividendy.
Imagine being a contestant on Jeopardy! and Investing being one of the categories. Taking it a step further, one of the clues requires contestants to call out the three pillars of shareholder yield: buyback yield, dividend yield, and? Bueller?
The last one is where many market participants trip up. It's debt reduction. For many investors, reducing liabilities isn't as glamorous or as tangible as dividends or share repurchases, but it's important nonetheless. So it's commendable that Chevron (CVX -0.03%) trimmed its obligations by a record $8.4 billion during the second quarter.
Image source: The Motley Fool.
Sure, in the context of Chevron's $392.4 billion market cap, $8.4 billion doesn't sound like much. But as a famous senator once said, "A billion here, a billion there, and pretty soon you're talking real money." More importantly, Chevron's debt-reducing efforts confirm the stock is worth evaluating, even by investors with small grubstakes.
Chevron debt reduction definitely matters S&P rates Chevron AA-, which is at the higher end of the investment-grade range. As such, it's in the upper tier of oil stocks in terms of effective interest rates. Chevron's is 4.3%. A few rivals have lower effective interest rates. Plenty more have higher rates.
The point is that with the Federal Reserve providing little indication that it will cut interest rates this year, it's prudent for companies of all shapes and sizes to reduce debt. Last year, Chevron spent $1.2 billion on interest expenses alone. Erasing $8.4 billion from its debt tally implies that, by some estimates, the oil giant could save as much as $336 million annually in interest expenses.
Chevron's second-quarter liabilities-reducing efforts are important for another reason. It's a matter of keeping up with the Joneses. In this case, the Joneses are Chevron competitors ExxonMobil and Shell. These rivals pared obligations by more than $7 billion and $10.8 billion, respectively, during the June quarter.
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The point is that in a sector-specific game of debt-cutting musical chairs, it's best not to be left standing up when the music stops. Chevron has a chair, and that's good news for investors.
Chevron is sending a message Actually, the oil major is arguably sending several messages by shedding $8.4 billion in debt. That move cuts Chevron's net debt-to-cash flow from operations (CFFO) ratio to 0.6x from 1.3x in the first quarter, confirming that balance sheet health is a priority.
Image source: Getty Images.
Chevron's debt paring also occurred as the company spent $6.5 billion on buybacks and dividends, confirming its cash flow position is sturdy. The subsequent drop in interest expenses could be used to fortify the energy company's status as a buyback machine and as a blue chip dividend stock.
Timing is also relevant. Chevron shedding some of its obligations while it notched earnings per share (EPS) that more than quadrupled year over year may be a sign that management wanted to capitalize on high prices while the getting was good. After all, oil prices are notoriously cyclical, and that's exactly the type of prudence that makes this energy stock worth considering.
Insiderka Phillips 66 Ann M. Kluppel prodala 7 834 akcií za 210,78 USD za kus po uplatnění opcí. Firma zároveň oznámila čistý zisk za 2. čtvrtletí ve výši 3,8 miliardy USD, oproti 877 milionům USD před rokem.
Ann M. Kluppel, SVP and controller, sold 7,834 shares of Phillips 66 (PSX +0.54%) at $210.78 per share, according to an SEC Form 4 filing.
Transaction summaryMetricValueTransaction value$1.7 millionShares sold (directly held)7,834Post-transaction shares (directly held)25,401Post-transaction shares (indirectly held)3,638Transaction value based on SEC Form 4 weighted average sale price ($210.78); post-transaction value based on the August 10 market close ($215.52).
Key questionsWhat was the structural nature of this transaction?
The transaction was an exercise-and-sell event where Ann M. Kluppel exercised 7,834 stock options at strike prices of $89.05 and $100.435 per share. These shares were then sold in the open market at a weighted average price of $210.78, with execution occurring across two trading days.What is the insider's remaining equity exposure in the company?
Following these sales, the SVP and Controller retains 25,401 shares held directly and 3,638 shares held indirectly through the Phillips 66 Savings Plan. The insider also continues to hold derivative securities in the form of stock options.What financial metrics define the company at the time of these transactions?
Phillips 66, a Houston-based energy company with a market capitalization of $86.4 billion, reported trailing twelve-month revenue of $153.6 billion and net income of $7.1 billion. The stock was priced at $215.52 at the August 10 market close.Company OverviewMetricValueShare Price (as of market close 2026-08-10)$215.52Market Capitalization$86.4 billionRevenue (TTM)$153.6 billionNet Income (TTM)$7.1 billionCompany SnapshotPhillips 66 operates a diversified energy platform spanning midstream infrastructure, chemical manufacturing, petroleum refining, and marketing & specialties, generating revenue across the full value chain from crude oil transportation to refined product distribution.The company generates earnings through four primary business segments: Midstream operations managing energy commodity transportation and storage; Chemicals producing specialty chemical products; Refining converting crude oil into petroleum products; and Marketing & Specialties distributing refined products and specialty fuels to end markets.The company serves a broad customer base, including petroleum refineries, petrochemical manufacturers, transportation fuel consumers, and industrial end-users requiring specialty chemical products and energy logistics solutions.Phillips 66 is a diversified energy company headquartered in Houston, with an $86.4 billion market capitalization. The company operates an integrated business model spanning midstream logistics, chemical manufacturing, refining, and product marketing, generating $153.6 billion in TTM revenue with $7.1 billion in net income. As a vertically integrated energy infrastructure operator, Phillips 66 maintains competitive advantages through its extensive pipeline and terminal network, refining capacity, and downstream distribution capabilities.
What this transaction means for investorsKluppel exercised options struck around $89 and $100 against a stock north of $210, so this was a controller converting years-old equity at more than double the grant price, the kind of well-earned cash-in that follows a strong run rather than any warning. She kept more than 25,000 shares directly, so the position that remains dwarfs what she sold across the two days.
And to be clear, the run behind it was extraordinary. Phillips 66 posted second-quarter net income of $3.8 billion, up from $877 million a year earlier, as refining margins jumped to $24 a barrel and the company ran its plants at 96% of capacity. It cut total debt by $6.6 billion in the quarter and lifted its buyback authorization by $10 billion. Of course, refining is deeply cyclical, and margins this fat rarely hold, so much of this quarter's power came from conditions that tend to swing back.
Ultimately, that cyclicality is the real thing to weigh, not a controller's option exercise, because the same refining spreads that drove a fivefold jump in profit can compress just as fast, and this quarter almost certainly caught them near a high.
Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool recommends Phillips 66. The Motley Fool has a disclosure policy.
Hyliion Holdings Corp. (HYLN) Q2 2026 Earnings Call August 12, 2026 11:00 AM EDT
Company Participants
Greg Standley
Thomas Healy - Founder, President, CEO & Director
Jon Panzer - Chief Financial Officer
Conference Call Participants
Sean Milligan - Needham & Company, LLC, Research Division
Edward Jackson - Northland Capital Markets, Research Division
Presentation
Operator
Hello, everyone. Thank you for joining us and welcome to the Hyliion Holdings Second Quarter 2026 Earnings Conference Call. [Operator Instructions]
I will now hand the conference over to Greg Standley, Chief Accounting Officer. Greg, please go ahead.
Greg Standley
Thank you, and good morning, everyone. Welcome to Hyliion Holdings' Second Quarter 2026 Earnings Conference Call. Joining us today are Thomas Healy, Chief Executive Officer; and Jon Panzer, Chief Financial Officer. A slide presentation accompanying today's call is available on Hyliion's Investor Relations website at investors.hyliion.com.
Please note that during today's call, we will be making certain forward-looking statements regarding the company's business outlook. Forward-looking statements are predictions, projections, and other statements about anticipated events that are based on current expectations and assumptions as such, are subject to risks and uncertainties. Many factors could cause actual results to differ materially from forward-looking statements made on this call.
Factors that may cause such differences are discussed in our presentation and press release, as well as our filings with the Securities and Exchange Commission. You are cautioned not to place undue reliance on forward-looking statements, and we undertake no duty to update this information except as required by applicable law.
With that, I'll turn the call over to Thomas.
Thomas Healy
Founder, President, CEO & Director
Hello, and thank you for joining us for Hyliion's second quarter 2026 earnings call. This was a strong quarter for Hyliion, and we have a lot to cover on today's call. I'll organize my remarks around
Novo Nordisk podala žalobu proti Eli Lilly kvůli reklamě na léky na hubnutí a tvrdí, že srovnání není úplné. Sporné je hlavně použití starších dávek Wegovy místo novější vysokodávkové verze 7,2 mg.
Novo Nordisk CEO Mike Doustdar on Wednesday defended the drugmaker's decision to sue rival Eli Lilly over its weight-loss drug advertising.
"I am a big fan of competition. I think competition has to be fierce, but I also think competition has to be fair," Doustdar said on CNBC's "Mad Money." "I believe that patients deserve to know the full truth together with their physicians before they make a choice of what product to take."
Last month, Novo Nordisk filed a lawsuit, alleging that Lilly's advertising for its blockbuster injectable GLP-1 drugs misleads consumers about their efficacy relative to Novo's rival treatments. In a statement at the time, Lilly said it stands "firmly behind our advertising."
In its ads, Lilly cites a head-to-head trial it conducted of its obesity drug Zepbound versus Novo Nordisk's rival treatment Wegovy. The results appeared in The New England Journal of Medicine in May 2025. The trial data showed that the maximum tolerated dose of 10 mg or 15 mg of Zepbound over 72 weeks yielded average weight loss of 20.2%, or around 50 pounds, compared to 13.7%, or roughly 33 pounds, for the then-maximum tolerated dose of 1.7 mg or 2.4 mg for Wegovy.
Doustdar argued Lilly's comparisons do not give consumers the full picture because they rely on an older, lower-dose version of Novo's Wegovy rather than the company's newer high-dose 7.2 mg offering, which was approved by the Food and Drug Administration back in March. Novo said it conducted a study of 7.2 mg Wegovy and saw average weight loss over 72 weeks of about 19%, or 47 pounds — much closer to the max-dose Zepbound in the previous study.
"We believe that the advertisements that they have been doing, while truthful, is not the complete picture," Doustdar said. "It's built on older generations of these products and old doses," he added. "People need to know that there is a more advanced version of Wegovy in the market with a different profile, and then they can make their choice and decide which product is the best."
When asked for comment, an Eli Lilly spokesperson said, "We're glad to see Novo Nordisk's own CEO confirm what we've said all along: Lilly's advertising is truthful. As for the suggestion that Wegovy HD is on par with Zepbound, that comparison isn't supported by any head-to-head clinical trial. Novo knows this and that is why you have never before heard them say this in their paid consumer advertising. The reality is that Zepbound is the most prescribed obesity medicine in the U.S. Lilly stands behind its science and the only head-to-head trials comparing these two medicines."
The legal fight comes as competition between Novo Nordisk and Eli Lilly intensifies across the booming GLP-1 market. Doustdar acknowledged Lilly has gained market share, particularly in injectable weight-loss drugs. Since the suit was filed, Novo shares have fallen 6%, while Eli Lilly has climbed nearly 4%.
"There is no secret that Lilly has been quite successful, actually, in having volume uptake and market share uptake above and beyond Novo" in injectables, Doustdar said.
At the same time, Doustdar touted the company's new Wegovy pill, which launched in early January following late December 2025 approval from the FDA. He said prescriptions in the U.S. have surpassed 5 million, claiming the Wegovy pill has been the "best product launch in the history of pharmaceuticals."
Lilly has its own weight-loss pill, called Foundayo, which was approved by the FDA on April 1 and started shipping days later. The Wegovy pill has a head start, and that was evident in Lilly's latest earnings report. While results were strong, Foundayo missed expectations as the company works to build up consumer awareness.
Lilly is a stock in Jim Cramer's Charitable Trust, which is the portfolio used by the CNBC Investing Club.
Alexandria Real Estate Equities upsala veřejnou emisi dluhopisů za 1 miliardu USD s kuponem 7,250 % splatných v roce 2057. Výnosy z emise chce použít na obecné firemní účely a splácení dluhu.
, /PRNewswire/ -- Alexandria Real Estate Equities, Inc. ("Alexandria" or the "Company") (NYSE: ARE) today announced that it has priced a public offering of $1,000,000,000 aggregate principal amount of 7.250% Series A Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2057 (the "notes"). J.P. Morgan Securities LLC, BofA Securities, Inc., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, RBC Capital Markets, LLC, BBVA Securities Inc., Mizuho Securities USA LLC, Scotia Capital (USA) Inc., SMBC Nikko Securities America, Inc., TD Securities (USA) LLC, Truist Securities, Inc., U.S. Bancorp Investments, Inc., BNP Paribas Securities Corp. and PNC Capital Markets LLC are acting as joint book-running managers in connection with the public offering, and Fifth Third Securities, Inc., M&T Securities, Inc., Santander US Capital Markets LLC, Capital One Securities, Inc., Huntington Securities, Inc., Regions Securities LLC and Samuel A. Ramirez & Company, Inc. are acting as co-managers in connection with the public offering.
The notes were priced at 100.000% of the principal amount. The notes will initially bear interest at 7.250% per year through, but excluding, February 15, 2032, and thereafter at a rate equal to the five-year U.S. Treasury Rate plus 2.889%, reset every five years, subject to a floor of 7.250%. The notes will be junior subordinated unsecured obligations of the Company and fully and unconditionally guaranteed on a subordinated unsecured basis by Alexandria Real Estate Equities, L.P., an indirectly 100% owned subsidiary of the Company. The closing of the sale of the notes is expected to occur on or about August 21, 2026, subject to customary closing conditions.
The Company intends to use the net proceeds from the notes for general corporate purposes, which may include working capital, the reduction of the outstanding balance, if any, on the Company's unsecured senior line of credit, the reduction of the outstanding indebtedness, if any, under the Company's commercial paper program, the repayment of other debt and the selective development, redevelopment or acquisition of properties. Pending such use, the Company may invest the net proceeds in high-quality short-term securities and/or use such proceeds temporarily for general working capital and other general corporate purposes.
The notes are being offered pursuant to an effective registration statement on Form S-3 that was previously filed with the Securities and Exchange Commission. This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the Company's securities, including the notes, nor shall there be any sale of such securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Copies of the prospectus supplement relating to this offering, when available, may be obtained by contacting: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-212-834-4533 or by email at [email protected] and [email protected]; BofA Securities, Inc., by telephone at 1-800-294-1322; Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 1-800-831-9146 or by email at [email protected]; Goldman Sachs & Co. LLC, Attn: Prospectus Department, at 200 West Street, New York, NY 10282, by telephone at (866) 471-2526, by fax at (212) 902-9316 or by email at [email protected]; or RBC Capital Markets, LLC, by toll-free telephone at (866) 375-6829.
About Alexandria Real Estate Equities, Inc.
Alexandria, an S&P 500® company, is a best-in-class, mission-driven life science REIT making a positive and lasting impact on the world. With our founding in 1994, Alexandria pioneered the life science real estate niche. Alexandria is the preeminent and longest-tenured owner, operator, and developer of collaborative Megacampus™ ecosystems in AAA life science and advanced technology innovation cluster locations, including Greater Boston, San Diego, the San Francisco Bay Area, Seattle, Maryland, Research Triangle, and New York City.
Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include, without limitation, statements regarding the Company's offering of the notes, the expected closing of the offering and its intended use of the proceeds. These forward-looking statements are based on the Company's present intent, beliefs or expectations, but forward-looking statements are not guaranteed to occur and may not occur. Actual results may differ materially from those contained in or implied by the Company's forward-looking statements as a result of a variety of factors, including, without limitation, the risks and uncertainties detailed in its filings with the Securities and Exchange Commission. All forward-looking statements are made as of the date of this press release, and the Company assumes no obligation to update this information. For more discussion relating to risks and uncertainties that could cause actual results to differ materially from those anticipated in the Company's forward-looking statements, and risks and uncertainties to the Company's business in general, please refer to the Company's filings with the Securities and Exchange Commission, including its most recent annual report on Form 10-K and any subsequently filed quarterly reports on Form 10-Q.
Northrop Grumman odpojil MEV od satelitu Optus a v roce 2027 ho má nahradit MRV se dvěma robotickými rameny a MEP. Cílem je prodloužit životnost satelitů o roky.
High above the Earth, a new generation of robots designed to keep satellites working longer is replacing its predecessor — quite literally.
This week, a spacecraft built and operated by Northrop Grumman called a Mission Extension Vehicle (MEV) unplugged from a communications satellite operated by the Australian firm Optus. For more than a year, the MEV spacecraft has been stuck to the back of the Optus satellite, keeping it in the right place in space so it can continue its mission.
Now, the satellite life-extension spacecraft is leaving to make room for its replacement. In July, four new Northrop spacecraft launched into orbit on a SpaceX Falcon 9 rocket. One is called the Mission Robotic Vehicle (MRV), a powerful satellite equipped with two advanced robotic arms that was developed by DARPA, the U.S. military research organization. The other three are called Mission Extension Pods, or MEPs, smaller, simpler satellites that are essentially modular propulsion systems.
Those four spacecraft are currently headed for targets around 27,000 miles above the Earth. In 2027, the MRV will use its robotic arms to attach one of the MEP pods to the Optus satellite, which should keep it in orbit for years to come.
The satellites that provide communications or scan the planet with various sensors only last for so long. They typically fail when they run out of fuel to stay in the right place, not because their computers and transceivers stop working. The Optus satellite was launched in 2009, and designed for a 15-year lifespan. If all goes well, the satellite could fly — and generate revenue — for another six years.
Now, cheaper launch costs and lower-cost space components are making spacecraft repair missions a reality.
The goal is “a paradigm shift where we can see space as sustainable, with a more resilient architecture and infrastructure base where we can do things like spacecraft repairs, life extension, or even upgrades and maintenance of satellites,” according to Northrop’s director of logistics and servicing, Cassie Wong.
There are two MEVs in orbit right now, launched in 2019 and 2020, which have provided 10 years of life extension to three customers, including two different Intelsat spacecraft and the Optus satellite. MEV-1 will wait in a parking orbit for another customer, while MEV-2 is currently attached to its Intelsat customer until 2030.
The Mission Robotic Vehicle, or MRV, represents an evolution of the business model. Satellite operators buy and own the MEPs, which are permanently attached to their spacecraft. That frees up the MRV to service more vehicles, creating a cheaper offering.
The offering requires some serious technology chops. The vehicles need to autonomously approach one another and dock safely, not a simple task when both are moving at velocities of thousands of miles an hour. The MEVs use a docking probe to plug in and hang onto satellite thruster nozzles. Meanwhile, the MRVs will need to carefully attach the MEPs using their robotic arms.
Unlike most satellites, the MRV is designed to be refueled in orbit — in part, a proof of concept for the kind of capabilities other satellites will need if this kind of in-orbit servicing becomes a norm. Right now, the extra cost and weight of such adaptations keeps spacecraft operators from investing in them.
Indeed, the current trend in satellites is flying lots of cheap, effectively replaceable spacecraft in low orbits, as Starlink and Amazon LEO do. On the other hand, spacecraft keep getting bigger, and there are plenty of expensive, large satellites in orbit that could benefit from life extension. Wong hopes that the MRV will take on other missions in the future, adding new components to satellites as well as adjusting their orbits.
That’s likely to include defense customers, given the number of expensive satellites it owns in high orbits, and DARPA’s involvement in developing the MRV’s arms. Indeed, the U.S. Space Force has previously characterized a Chinese servicing spacecraft with robotic arms as a weapon, since it could theoretically grapple and degrade a rival satellite. Northrop says that its vehicles are focused on servicing missions.
The vehicle could also be used in LEO, Wong says, to extend the life with valuable assets there. The startup Katalyst Space is attempting a similar mission to extend the life of a NASA space telescope after malfunctions left its vehicle tumbling last month. The company has a fix in place and hopes to complete the mission.
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Tim Fernholz is a journalist who writes about technology, finance and public policy. He has closely covered the rise of the private space industry and is the author of Rocket Billionaires: Elon Musk, Jeff Bezos and the New Space Race. Formerly, he was a senior reporter at Quartz, the global business news site, for more than a decade, and began his career as a political reporter in Washington, D.C. You can contact or verify outreach from Tim by emailing [email protected] or via an encrypted message to tim_fernholz.21 on Signal.
PLANO, Texas--(BUSINESS WIRE)--Cinemark Holdings, Inc. (“Cinemark”) (NYSE: CNK), one of the largest and most influential theatrical exhibition companies in the world, announced today that its Board of Directors has declared a quarterly cash dividend of $0.09 per share of common stock. The dividend will be paid on September 9, 2026, to stockholders of record on August 26, 2026.
Also announced today, Lawrence Burian has been elected as a Class II director of Cinemark Holdings, Inc. Board of Directors, effective immediately. With Mr. Burian’s appointment, the Board has expanded to 12 members as part of its ongoing succession planning efforts.
"We are pleased to welcome Lawrence to Cinemark's Board of Directors," said Carlos Sepulveda, Chairman of the Board. "His diverse leadership experience, strategic insight and governance expertise make him a valuable addition to the Board. As part of our ongoing commitment to thoughtful board refreshment and succession planning, we seek directors whose backgrounds complement the Company's long-term objectives, and Lawrence's experience across media, entertainment, capital markets and corporate development aligns well with those priorities."
Mr. Burian, 56, is a seasoned executive with more than three decades of leadership experience and a proven track record of driving growth and strategic transformation across global sports, media and entertainment organizations. He brings extensive expertise in operations, strategy, corporate governance, corporate development, mergers and acquisitions, legal affairs, capital markets and real estate. He currently serves as Chief Executive Officer and Board Director of PRG, a leading global provider of entertainment and live event technology solutions. Prior to that, he served as Chief Operating Officer of LIV Golf, where he oversaw a broad portfolio of business functions. During his tenure, he helped drive significant revenue growth, expand global media distribution, advance digital transformation initiatives and support the organization's international expansion.
Prior to LIV Golf, Mr. Burian founded LJB Ventures, LLC, an advisory firm serving private equity and venture capital-backed sports and entertainment growth-oriented companies. Earlier in his career, he held leadership positions across Madison Square Garden Sports, MSG Networks, MSG Entertainment and Cablevision Systems Corporation, and he began his career as an associate in the mergers and acquisitions practice at Davis Polk & Wardwell.
About Cinemark Holdings, Inc.:
Cinemark Holdings, Inc. (NYSE: CNK) provides extraordinary out-of-home entertainment experiences as one of the largest and most influential theatrical exhibition companies in the world. Based in Plano, Texas, Cinemark makes every day cinematic for moviegoers across nearly 500 theaters and more than 5,500 screens, operating in 42 states in the U.S. (301 theaters; 4,219 screens) and 13 South and Central American countries (194 theaters; 1,401 screens). Cinemark offers guests superior sight and sound technology, including Barco laser projection and Cinemark XD, the world’s No. 1 exhibitor-branded premium large format; industry-leading penetration of upscale amenities such as expanded food and beverage offerings, Luxury Lounger recliners and D-BOX motion seats; top-notch guest service; and award-winning loyalty programs such as Cinemark Movie Club. All of this creates an immersive environment for a shared, entertaining escape, underscoring that there is no place more cinematic than Cinemark. For more information go to https://ir.cinemark.com.
Forward-looking Statements
Certain matters within this press release include “forward–looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. You can identify forward-looking statements by the use of words such as “may,” “should,” “could,” “estimates,” “predicts,” “potential,” “continue,” “anticipates,” “believes,” “plans,” “expects,” “future” and “intends” and similar expressions which are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond our control and difficult to predict. Such risks and uncertainties could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. These forward-looking statements are based on information currently available as well as management’s assumptions and beliefs today. For a description of these factors, please review the “Risk Factors” section or other sections in the Company’s Annual Report on Form 10-K filed February 18, 2026, and quarterly reports on Form 10-Q, filed with the Securities and Exchange Commission. All forward-looking statements are expressly qualified in their entirety by such risk factors. Forward-looking statements contained in this press release reflect our view only as of the date of this press release. We undertake no obligation, other than as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
, /PRNewswire/ -- M/I Homes, Inc. (NYSE:MHO) today announced that its Board of Directors approved a share repurchase authorization, pursuant to which the Company may purchase up to $250 million of its common shares. The $250 million authorization replaces the Company's prior authorization.
Such common shares may be purchased through open-market transactions, privately negotiated transactions or otherwise in accordance with all applicable laws. The timing and amount of any purchases will be determined by the Company's management at its discretion based on a variety of factors, including the market price of the Company's common shares, business considerations, general market and economic conditions and legal requirements. The authorization has no expiration date and may be modified, discontinued or suspended at any time.
M/I Homes, Inc. celebrating its 50th year in business in 2026, is one of the nation's leading homebuilders of single-family homes. The Company has homebuilding operations in Columbus and Cincinnati, Ohio; Indianapolis, Indiana; Chicago, Illinois; Minneapolis/St. Paul, Minnesota; Detroit, Michigan; Tampa, Sarasota, Fort Myers/Naples and Orlando, Florida; Austin, Dallas/Fort Worth, Houston and San Antonio, Texas; Charlotte and Raleigh, North Carolina; and Nashville, Tennessee.
Certain statements in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "expects," "anticipates," "targets," "envisions," "goals," "projects," "intends," "plans," "believes," "seeks," "estimates," variations of such words and similar expressions are intended to identify such forward-looking statements. These statements involve a number of risks and uncertainties. Any forward-looking statements that we make herein and in any future reports and statements are not guarantees of future performance, and actual results may differ materially from those in such forward-looking statements as a result of various factors, including, without limitation, factors relating to the economic environment, interest rates, availability of resources, competition, market concentration, land development activities, construction defects, product liability and warranty claims various governmental rules and regulations including changes in trade policy affecting business such as new or increased tariffs, as well as the potential impact of retaliatory tariffs and other penalties, as more fully discussed in the "Risk Factors" section of the Company's Annual Report on Form 10-K for the year ended December 31, 2025, as the same may be updated from time to time in our subsequent filings with the Securities and Exchange Commission. All forward-looking statements made in this press release are made as of the date hereof, and the risk that actual results will differ materially from expectations expressed herein will increase with the passage of time. We undertake no duty to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. However, any further disclosures made on related subjects in our subsequent filings, releases or presentations should be consulted.
READING, Pa.--(BUSINESS WIRE)--EnerSys (NYSE: ENS), a global leader in stored energy solutions for industrial, infrastructure, and defense applications announced today that its Board of Directors has approved an increase to its quarterly cash dividend of 10% to $0.2875 per share of common stock payable on October 2, 2026, to holders of record as of September 18, 2026.
“Our decision to increase the dividend reflects our confidence in EnerSys’ earnings growth, strong cash flow generation, and long-term value creation framework,” said Shawn O’Connell, EnerSys President and Chief Executive Officer. “We remain committed to a disciplined capital allocation strategy that balances organic and inorganic investment in the business with consistent returns to shareholders, including a competitive dividend that grows with earnings, excluding 45X benefits, and share repurchases under our authorization, which has approximately $900 million remaining as of the end of the first quarter.”
About EnerSys
EnerSys is a global leader in stored energy solutions helping industrial, infrastructure and defense customers address critical power and operational needs with batteries, chargers and other power equipment. The company delivers integrated solutions that combine energy storage technologies, power electronics, software-enabled intelligence, technical expertise and comprehensive global customer support. EnerSys supports customers across communications networks, data centers, energy infrastructure, material handling, transportation, aerospace and defense — including applications where power continuity is essential. Serving customers in more than 100 countries, EnerSys helps organizations manage energy more reliably, efficiently and intelligently in complex operating environments where uptime, safety and resilience matter. For more information, visit www.enersys.com.
Caution Concerning Forward-Looking Statements
This press release, and oral statements made regarding the subjects of this release, contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, or the Reform Act, which may include, but are not limited to, statements regarding EnerSys’ earnings estimates, intention to return capital to stockholders, plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts, including statements identified by words such as “believe,” “plan,” “seek,” “expect,” “intend,” “estimate,” “anticipate,” “will,” and similar expressions. All statements addressing operating performance, events, or developments that EnerSys expects or anticipates will occur in the future, including statements relating to sales growth, continuing to pay cash dividends at the current rate, earnings or earnings per share growth, its intention to pay quarterly cash dividends and return capital to stockholders, execution of its stock repurchase program, and market share, as well as statements expressing optimism or pessimism about future operating results or benefits from either its cash dividend or its stock repurchase programs, are forward-looking statements within the meaning of the Reform Act. The forward-looking statements are based on management’s current views and assumptions regarding future events and operating performance, and are inherently subject to significant business, economic, and competitive uncertainties and contingencies and changes in circumstances, many of which are beyond EnerSys’ control. The statements in this press release are made as of the date of this press release, even if subsequently made available by EnerSys on its website or otherwise. EnerSys does not undertake any obligation to update or revise these statements to reflect events or circumstances occurring after the date of this press release.
Although EnerSys does not make forward-looking statements unless it believes it has a reasonable basis for doing so, EnerSys cannot guarantee their accuracy. For a list of other factors which could affect EnerSys’ results, including earnings estimates, see EnerSys’ filings with the Securities and Exchange Commission, including “Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations,” and “Forward-Looking Statements,” set forth in EnerSys’ Annual Report on Form 10-K for the fiscal year ended March 31, 2026. The foregoing factors, among others, could cause actual results to differ materially from those described in these forward-looking statements. No undue reliance should be placed on any forward-looking statements.
Coherent ve 4. čtvrtletí překonal odhady zisku i tržeb, když EPS činil 1,74 USD a tržby 2,05 mld. USD. CEO uvedl „mimořádnou“ poptávku a pro 1. čtvrtletí čeká vyšší EPS i tržby, než se čekalo.
Coherent Corp. (NYSE:COHR) posted its fourth-quarter results after Wednesday’s closing bell, beating Street estimates across the board. Here’s a look at the key figures from the quarter.
COHR stock is moving. Watch the price action here. Coherent reported quarterly earnings of $1.74 per share, which beat the consensus estimate of $1.61 by 7.41%, according to Benzinga Pro data.
Quarterly revenue came in at $2.05 billion, which beat the analyst consensus estimate of $1.99 billion and was up from $1.53 billion the same period last year.
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“Fiscal 2026 was an outstanding year for Coherent, with record revenue, significant margin expansion, and non-GAAP EPS growth that was more than twice the rate of revenue growth” said Jim Anderson, CEO.
“We enter fiscal 2027 with exceptional customer demand, expanding production capacity, and multiple new growth platforms beginning to ramp,” Anderson added.
Coherent Issues Strong GuidanceCoherent expects first-quarter adjusted EPS of $1.85 to $2.05, versus the $1.77 analyst estimate, and revenue of $2.2 billion to $2.4 billion, versus the $2.14 billion analyst estimate.
COHR Stock Price Activity: According to data from Benzinga Pro, Coherent stock was down 2.12% to $348.50 in Wednesday’s extended trading session at publication time.
Photo: Shutterstock
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Watts Water Technologies zvyšuje výhled na FY2026 díky prudkému růstu tržeb z datových center a návratu Evropy k organickému růstu. Tržby z datových center se meziročně ztrojnásobily.
SummaryI upgrade Watts Water Technologies to buy, driven by surging data center sales, European recovery, and raised FY2026 guidance.Data center revenues tripled year-over-year, now representing 8% of FY2026 sales, with management projecting continued rapid growth.WTS’s European segment returned to organic growth, with margin expansion and limited disruption from product rationalization efforts.Despite a 28x NTM P/E, robust earnings growth, and upgraded guidance support attractive upside, even without multiple expansion. CasarsaGuru/E+ via Getty Images
Investment action I upgrade Watts Water Technologies (WTS) to buy from hold after Q2 2026 showed Europe returning to organic growth, data-center sales more than tripling y/y, and FY2026 guidance rising. As a recap, I kept WTS
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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.
NEW YORK--(BUSINESS WIRE)--Pershing Square Inc. (NYSE:PS) (“Pershing Square” or the “Company”) today reported its second quarter 2026 results.
Pershing Square’s full second quarter 2026 report is available here: https://pershingsquareinc.com/investor-relations/financial-reporting/.
A letter to shareholders from Pershing Square CEO Bill Ackman and CIO Ryan Israel is also available here: https://pershingsquareinc.com/investor-relations/financial-reporting/.
Dividend
On July 21, 2026, Pershing Square Inc. paid a dividend of $0.122 per common share to shareholders of record as of the close of business on July 13, 2026.
Quarterly Investor Call Details
Pershing Square CEO Bill Ackman and CIO Ryan Israel will host a live audio webcast and conference call on August 13, 2026, at 9:00 a.m. ET. The conference call may be accessed by dialing (800) 330-6710 (U.S. callers) or +1 (646) 769-9200 (non-U.S. callers); confirmation code 7272456. The audio webcast will be available on the Events page of the Investor Relations section of the Company’s website at https://pershingsquareinc.com/investor-relations/. Participants are encouraged to dial into the call or link to the webcast at least fifteen minutes prior to the scheduled start time. A replay of the webcast will be available through the same link approximately 24 hours after the conference call.
Following the Company’s earnings conference call, Bill Ackman and Ryan Israel will host a live Spaces Q&A event at 10:00 a.m. ET on X at https://x.com/BillAckman open to all investors, media and members of the public. The Spaces event will also be simulcast on the Events page of the Investor Relations section of the Company’s website. A replay will be available on X and on the Investor Relations section of the Company’s website through the same link.
About Pershing Square Inc.
Pershing Square Inc. is an alternative asset management company that manages pools of permanent capital invested in long-term, high-return investment strategies. Our growth is principally driven by the long-term compounding of our assets under management and the opportunistic launch of new permanent capital vehicles that enable us to pursue new investment verticals or to pursue our core investment strategies in new jurisdictions. To learn more about the Company, please visit www.pershingsquareinc.com.
Flywire ve spolupráci s Trustly rozšiřuje v USA a Kanadě podporu open banking plateb. Zákazníci tak mohou autorizovat bezpečné domácí i přeshraniční platby přímo z bankovního účtu.
Flywire is expanding support for open banking payments in the U.S. and Canada.
The expansion, done in partnership with Trustly, is designed to let payers authorize secure, large domestic and cross-border payments from their bank accounts and in their local currency, the payments enablement company said in a Wednesday (Aug. 12) news release.
“Our clients tell us their payers want modern, digital payment experiences that eliminate friction,” said Kate Moran, vice president of global payments at Flywire.
“This expansion delivers exactly that – a fully online payment option that improves accuracy, reduces payment failures, and gives payers real-time visibility into their transactions. We’re applying the open banking infrastructure we’ve successfully scaled across Europe to North America, enabling our clients to confidently offer their payers a proven experience.”
According to the release, the partnership builds on a nearly 20-year collaboration between Flywire and Trustly in Europe while expanding support across North America.
When choosing to pay with Trustly Pay by Bank, payers use their existing online bank login credentials at checkout, with no need to re-enter bank account information to finish the transaction, Flywire said.
“Combined with Flywire, the partnership offers a secure and transparent payment option for high-value bank transfers,” the release added.
In other open banking news, recent PYMNTS Intelligence research shows that while many institutions look at open banking as a key to retaining consumer and business relationships, consumers are not yet entirely sold on the concept.
According to “Consumer Sentiment About Open Banking Payments,” completed in collaboration with Trustly, about 46% of American consumers said they would be willing to use open banking payments for at least one type of purchase, with monthly bills, groceries and subscriptions garnering the greatest interest. Still, only 11% of those consumers said they had actually made an open banking payment.
“The read across is that providers still face work explaining when consumers should choose account-to-account payments instead of cards, digital wallets or traditional bank bill pay,” PYMNTS wrote last month.
Trustly announced earlier this year it now has more than 120 million users worldwide, coming amid rising adoption of Pay by Bank in the U.K.
Around 15 million consumers and businesses in the U.K. are Pay by Bank users, the equivalent of almost a third of the country’s adult population, with the country’s open banking system marking its billionth payment late last month.
Resideo oznámila rekordní tržby ve výši 1,98 mld. USD za 2. čtvrtletí, meziročně o 2 % vyšší, a čistý zisk 97 mil. USD oproti ztrátě 825 mil. USD loni.
Revenue of $1.98 billion, up 2% year-over-year; a new record and above the high-end of outlook range; Products & Solutions ("P&S") up 4% and ADI Global Distribution segment ("ADI") up 1% Gross margin of 30.0%, a new record; 13 consecutive quarters of year-over-year gross margin expansion achieved at P&S Net income of $97 million, compared to net loss of $825 million in second quarter of 2025; Adjusted EBITDA (1) of $249 million, up 19% year-over-year; a new record and above the high-end of outlook range GAAP diluted EPS of $0.51; Adjusted EPS (1) of $0.83, up 26% year-over-year and above the high-end of the outlook range Successfully completed the business separation of ADI on August 3, 2026 (2) , /PRNewswire/ -- Resideo Technologies, Inc. (NYSE: REZI), a leading global developer and manufacturer of critical control and sensing solutions for residential end-markets, today announced financial results for the second fiscal quarter ended July 4, 2026.
ADI Global Distribution Spin-Off
On August 3, 2026 (the "Distribution Date"), Resideo completed the separation (the "ADI Spin-Off" or the "Separation") of its former ADI Global Distribution segment by distributing to Resideo common shareholders on a pro rata basis all of the issued and outstanding common stock of ADI Global Distribution Inc. ("ADIG"). To effect the Separation, Resideo distributed to its common stockholders one share of ADIG common stock for every two shares of Resideo's common stock outstanding and held as of July 20, 2026, the record date for the distribution.
Resideo's consolidated results for the three and six months ended July 4, 2026 include the historical results of ADI as a consolidated business segment of Resideo since the ADI Spin-Off occurred subsequent to the second fiscal quarter. Beginning with the third quarter of 2026, Resideo will no longer consolidate ADI and the historical results of ADI will be reflected as discontinued operations in our financial statements. Also beginning with the third quarter, the results of the P&S segment, with revenue adjusted to reflect ADI as an external customer and to reflect allocated corporate costs, will be presented as "continuing operations" in Resideo's financial statements and results of operations.
ADIG has announced that it will present its second quarter and year-to-date results derived from Resideo's accounting records and presented on a carve-out basis on August 13, 2026.
Management Remarks
"Resideo's second quarter consolidated results were strong, reporting record high revenue and financial results that were above the high-end of the outlook range for all our key financial metrics. The Products and Solutions segment had another standout quarter with year-over-year revenue growth and the thirteenth consecutive quarter of year-over-year gross margin expansion," said Tom Surran, Resideo's President and CEO.
"With the business separation now complete, Resideo is entirely focused on leveraging our competitive strengths to increase the value we deliver to customers as a standalone building technologies company. With our track record of execution and our focused strategic plan coupled with a stronger gross and operating margin profile, we are poised to deliver profitable growth and drive greater shareholder value."
(1)
This press release includes certain "non-GAAP financial measures" as defined under the Securities Exchange Act of 1934. Resideo management believes the use of such non-GAAP financial measures, including Adjusted EBITDA, Adjusted Net Income, Adjusted EPS, and Adjusted Cash Provided by Operations, assists investors in understanding the ongoing operating performance of Resideo by presenting the financial results between periods on a more comparable basis. See reconciliations of U.S. GAAP results to adjusted results in the accompanying tables.
(2)
The historical results of the ADI segment are included in our unaudited consolidated financial statements for all periods presented as the ADI Spin-Off occurred subsequent to the end of the reported period. In future filings, we will no longer consolidate ADI and the historical results of ADI will be reflected as discontinued operations in Resideo's consolidated financial statements.
Consolidated Second Quarter 2026 Financial Highlights
Revenue of $1,981 million, up 2% compared to $1,943 million in the second quarter of 2025; a new record and above the high-end of the outlook range Gross margin of 30.0%, up 70 basis points year-over-year, a new record impacted by the receipt of $27 million of tariff refunds, of which approximately $20 million was received by ADI Net income of $97 million, compared to net loss of $825 million in the second quarter of 2025 Adjusted EBITDA (1) of $249 million, up 19% compared to $210 million in the second quarter of 2025; second quarter 2026 Adjusted EBITDA was a new record and above the high-end of outlook range Diluted EPS of $0.51 and Adjusted EPS (1) of $0.83 compared to diluted loss per share of $5.59 and Adjusted EPS(1) of $0.66 in the second quarter of 2025; second quarter 2026 Adjusted EPS (1) was above the high end of the outlook range Cash provided by operating activities was $148 million compared to cash provided by operating activities of $200 million in the second quarter of 2025 Products and Solutions Segment Second Quarter 2026 Highlights
Revenue of $695 million, up 4% compared to $666 million in the second quarter of 2025; above the high-end of the segment outlook range Gross margin of 43.6%, up 70 basis points compared to the second quarter of 2025, a new record Income from operations of $138 million, compared to $142 million in the second quarter of 2025 Segment Adjusted EBITDA (1) of $177 million, or 25.5% of revenue, up 6% compared to $167 million, or 25.1% of revenue, in the second quarter of 2025; above the high-end of the segment outlook range P&S revenue of $695 million in the second quarter of 2026 includes a favorable impact of approximately 35 basis points from foreign currency. Revenue grew year-over-year across substantially all of our sales channels and product families due primarily to volume increases given customer demand for our products.
Gross margin of 43.6%, compared to 42.9% in the second quarter of 2025 due primarily to volume increases, favorable manufacturing and supply chain variances, and tariff refunds, partially offset by unfavorable product sales mix. We also incurred inflationary input costs that were partially offset by the price actions we announced last quarter.
Research and development expenses increased $5 million from the second quarter of 2025 as we continue to invest behind new product launches to drive future growth. Selling, general and administrative expenses were up $6 million from the second quarter of 2025, driven primarily by higher legal settlement costs. Restructuring expenses increased $10 million from the second quarter of 2025 as we continue to strategically optimize our manufacturing and operating footprint.
Income from operations of $138 million in the second quarter of 2026 was down 3% from $142 million in second quarter 2025. Segment Adjusted EBITDA (1) of $177 million was up 6% compared to $167 million in the second quarter of 2025.
ADI Global Distribution Segment Second Quarter 2026 Highlights
Revenue of $1,286 million, up 1% compared to the second quarter of 2025; a new record and above the high-end of the segment outlook range Gross margin of 22.7%, up 50 basis points compared to the second quarter of 2025 Income from operations of $64 million, compared to $71 million in the second quarter of 2025 Segment Adjusted EBITDA (1) of $103 million, or 8.0% of revenue, down 4% compared to $107 million or 8.4% of revenue in the second quarter of 2025; above the high-end of the segment outlook range ADI second quarter 2026 revenue of $1,286 million reflects average daily sales growth of 2% year-over-year and one fewer sales day in the current quarter. Revenue growth was driven by security, professional audio-visual, and data communications categories, partially offset by weakness in the residential audio-visual category due primarily to a continued soft U.S. residential housing market.
Gross margin was 22.7%, compared to 22.2% in the second quarter of 2025, and was favorably impacted by the receipt of tariff refunds of approximately $20 million, partially offset by unfavorable price and mix shift and higher fuel costs for freight.
Research and development expenses increased $2 million from the second quarter of 2025 due primarily to investments supporting new product launches to drive future growth. Selling, general and administrative expenses were up $8 million from the second quarter of 2025, driven primarily by higher employee and facility costs. Restructuring expenses increased $4 million from the second quarter of 2025 and were related to the optimization of ADI's operating footprint to better align its cost structure with strategic objectives.
Income from operations of $64 million in the second quarter of 2026 was down 10% from $71 million. Adjusted EBITDA (1) of $103 million decreased 4% compared to $107 million in the second quarter of 2025.
Cash Flow and Liquidity
Net cash provided by operating activities was $148 million in the second quarter of 2026, compared to net cash provided by operating activities of $200 million in the second quarter of 2025. The decrease was driven primarily by approximately $45 million of non-recurring business separation costs and settlement payments, including the payment made in connection with the termination of the Honeywell Tax Matters Agreement, and $20 million of higher cash interest paid, partially offset by higher net income and less cash taxes paid. At July 4, 2026, Resideo had cash, cash equivalents, and restricted cash of $949 million, which included $400 million of cash proceeds from the ADIG notes offering that were funded into escrow. The proceeds of the ADIG notes offering were released to ADIG in connection with the consummation of the ADI Spin-Off and satisfaction of the escrow release conditions. Resideo had total outstanding debt of $3.62 billion at July 4, 2026.
In connection with the ADI Spin-Off, the $400 million of ADIG notes were moved onto the ADIG balance sheet. The ADIG notes are no longer an obligation of Resideo or any of its subsidiaries and will not be included in future balance sheets for Resideo. Also in connection with the ADI Spin-Off, Resideo received a $900 million dividend from ADIG and used the proceeds to repay $900 million of outstanding principal under its Term Loan B credit facility. Resideo expects to make a further repayment of approximately $200 million under its Term Loan B credit facility following the completion of the post-closing cash adjustment under the separation agreement with ADIG. We expect to make this repayment by the end of the third fiscal quarter. Resideo's outstanding Series A Cumulative Convertible Participating Preferred Stock ("Preferred Stock") was reduced by 150,000 shares in connection with the completion of the ADI Spin-Off, leaving 350,000 shares outstanding, with a proportional adjustment to the conversion price thereof. On a go-forward basis, this will result in a proportionally smaller quarterly dividend payable on Resideo's outstanding Preferred Stock.
Standalone Resideo Outlook
Resideo is initiating a standalone 2026 outlook for the third quarter and the full year. This standalone outlook is presented as if we had operated as a standalone company for the first half of 2026 coupled with our standalone outlook for the remainder of the year.
($ in millions)
Q3 2026
2026
Revenue
$705 - $730
$2,900 - $2,950
Non-GAAP Adjusted EBITDA (1)
$145 - $155
$605 - $625
Conference Call and Webcast Details
Resideo will hold a conference call with investors on August 12, 2026, at 5:00 p.m. ET. The webcast can be accessed at https://investor.resideo.com, where the webcast link and related materials will be posted before the call. A replay of the webcast will be available following the presentation.
About Resideo
Resideo is a global building technologies company that is a leading developer and manufacturer of critical control and sensing solutions for residential markets. The company serves professional installers and integrators across diverse product categories, such as heating, ventilation, and air conditioning controls, combustion, life safety, security, and water. Its comfort and protection solutions can be found in more than 150 million residential and commercial spaces globally, with tens of millions of new devices sold annually. More information about Resideo and its trusted brands, including BRK, First Alert, and Honeywell Home, is available at resideo.com.
Contacts:
Investors:
Media:
Christopher T. Lee
Kevin Hunt
Global Head of Strategic Finance
Director, Corporate Communications
[email protected]
[email protected]
Forward-Looking Statements
This release and the related conference call contain "forward-looking statements." All statements, other than statements of fact, that address activities, events or developments that we or our management intend, expect, project, believe or anticipate will or may occur in the future are forward-looking statements. Although we believe forward-looking statements are based upon reasonable assumptions, such statements involve known and unknown risks and uncertainties, which may cause the actual results or performance of the Company to differ materially from such forward-looking statements. Such risks and uncertainties include, but are not limited to, (1) our ability to achieve our outlook regarding the third quarter 2026 and full year 2026, (2) the ability of Resideo to drive increased customer value and financial returns and enhance strategic and operational capabilities, (3) risks and uncertainties relating to tariffs that have been or may be imposed by the United States and other governments, (4) risks related to our ability to achieve some or all of the expected benefits of the separation of Resideo Technologies' Products & Solutions and ADI Global Distribution businesses into two independent publicly traded companies, (5) our ability to repay outstanding debt obligations on the timing we anticipate or at all, and (6) the other risks described under the headings "Risk Factors" and "Cautionary Statement Concerning Forward-Looking Statements" in our Annual Report on Form 10-K for the year ended December 31, 2025 and other periodic filings we make from time to time with the Securities and Exchange Commission. Forward-looking statements are not guarantees of future performance, and actual results, developments, and business decisions may differ from those envisaged by our forward-looking statements. Except as required by law, we undertake no obligation to update such statements to reflect events or circumstances arising after the date of this press release and we caution investors not to place undue reliance on any such forward-looking statements.
Use of Non-GAAP Measures
This press release includes certain "non-GAAP financial measures" as defined under the Securities Exchange Act of 1934 and in accordance with regulations issued thereunder. Management believes the use of such non-GAAP financial measures assists investors in understanding the ongoing operating performance of the Company by presenting financial results between periods on a more comparable basis. Such non-GAAP financial measures should not be construed as an alternative to reported results determined in accordance with U.S. GAAP. Readers should also consider the limitations associated with these non-GAAP financial measures, including the potential lack of comparability of these measures from one company to another.
We have included reconciliations of these non-GAAP financial measures to the most directly comparable financial measures calculated and provided in accordance with U.S. GAAP at the end of this release. A reconciliation of the forecasted range for Adjusted EBITDA for the third quarter of 2026 and for the full year 2026 is not included in this release due to the number of variables in the projected range and because we are currently unable to quantify accurately without unreasonable efforts certain amounts that would be required to be included in the U.S. GAAP measure or the individual adjustments for such reconciliation. In addition, we believe such reconciliation would imply a degree of precision that would be confusing or misleading to investors. However, for the third quarter of 2026 and full year 2026 respectively, on a standalone company basis, we anticipate the following expenses in our GAAP to non-GAAP reconciliation: depreciation and amortization of $23 million and $91 million, interest expense, net of $32 million and $129 million, and stock-based compensation expense of $8 million and $32 million.
Table 1: CONSOLIDATED BALANCE SHEETS (UNAUDITED)
(in millions, except par value)
July 4, 2026
December 31, 2025
ASSETS
Current assets:
Cash and cash equivalents
$ 549
$ 661
Restricted cash
400
—
Accounts receivable, net
1,214
1,073
Inventories, net
1,392
1,354
Other current assets
270
270
Total current assets
3,825
3,358
Property, plant and equipment, net
445
447
Goodwill
3,088
3,100
Intangible assets, net
1,049
1,091
Other assets
374
437
Total assets
$ 8,781
$ 8,433
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable
$ 1,116
$ 1,131
Accrued liabilities
605
624
Total current liabilities
1,721
1,755
Long-term debt
3,560
3,167
Other long-term liabilities
494
594
Total liabilities
5,775
5,516
Stockholders' equity:
Preferred stock, $0.001 par value: 100 shares authorized, 0.5 shares issued
and outstanding, and $500 liquidation preference at July 4, 2026 and
December 31, 2025
482
482
Common stock, $0.001 par value: 700 shares authorized, 160 and 152
shares issued and outstanding at July 4, 2026, respectively, and 158 and 150
shares issued and outstanding at December 31, 2025, respectively
—
—
Additional paid-in capital
2,424
2,391
Retained earnings
463
345
Accumulated other comprehensive loss
(186)
(157)
Treasury stock at cost
(177)
(144)
Total stockholders' equity
3,006
2,917
Total liabilities and stockholders' equity
$ 8,781
$ 8,433
Table 2: CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
Three Months Ended
Six Months Ended
(in millions, except per share data)
July 4, 2026
June 28, 2025
July 4, 2026
June 28, 2025
Revenue
$ 1,981
$ 1,943
$ 3,893
$ 3,713
Cost of goods sold
1,386
1,374
2,747
2,633
Gross profit
595
569
1,146
1,080
Operating expenses:
Research and development expenses
48
41
96
76
Selling, general and administrative expenses
332
319
672
625
Intangible asset amortization
31
30
62
60
Restructuring expenses
22
2
28
6
Business separation costs
31
—
55
—
Total operating expenses
464
392
913
767
Income from operations
131
177
$ 233
$ 313
Indemnification Agreement expense (1)
—
882
—
972
Other (income) expense, net (2)
(81)
9
(81)
15
Interest expense, net
46
24
93
49
Net income (loss) before taxes
166
(738)
221
(723)
Provision for income taxes
69
87
86
96
Net income (loss)
97
(825)
135
(819)
Less: preferred stock dividends
8
8
17
17
Less: undistributed income allocated to preferred
stockholders
10
—
13
—
Net income (loss) available to common
stockholders
$ 79
$ (833)
$ 105
$ (836)
Earnings (loss) per common share:
Basic
$ 0.52
$ (5.59)
$ 0.70
$ (5.65)
Diluted
$ 0.51
$ (5.59)
$ 0.68
$ (5.65)
Weighted average common shares outstanding:
Basic
151
149
151
148
Diluted
154
149
155
148
(1)
Represents the expense incurred pursuant to the Indemnification Agreement, which, prior to its termination, we paid our regularly scheduled payments of $70 million during 2025. The following table summarizes information concerning the Indemnification Agreement.
(2)
Primarily represents the $77 million gain recognized pursuant to the termination of the Tax Matters Agreement.
Three Months Ended
Six Months Ended
(in millions)
July 4, 2026
June 28, 2025
July 4, 2026
June 28, 2025
Accrual for Indemnification Agreement liabilities
deemed probable and reasonably estimable
$ —
$ 882
$ —
$ 972
Cash payments made to Honeywell
—
(35)
—
(70)
Indemnification Agreement non-GAAP adjustment
$ —
$ 847
$ —
$ 902
Table 3: CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
Three Months Ended
Six Months Ended
(in millions)
July 4, 2026
June 28, 2025
July 4, 2026
June 28, 2025
Cash Flows From Operating Activities:
Net income (loss)
$ 97
$ (825)
$ 135
$ (819)
Adjustments to reconcile net income (loss) to net
cash in operating activities:
Depreciation and amortization
50
49
101
96
Restructuring expenses
22
2
28
6
Stock-based compensation expense
14
15
28
30
Deferred income taxes
43
—
43
4
Other, net
—
2
—
4
Changes in assets and liabilities:
Accounts receivable, net
(107)
(72)
(149)
(85)
Inventories, net
(39)
(13)
(45)
4
Other current assets
(8)
(35)
(2)
(26)
Accounts payable
98
109
(8)
8
Accrued liabilities
64
185
(50)
73
Non-current obligations payable under the Tax
Matters Agreement
(88)
—
(88)
—
Non-current obligations payable under the
Indemnification Agreement
—
847
—
902
Other, net
2
(64)
10
(62)
Net cash provided by operating activities
148
200
3
135
Cash Flows From Investing Activities:
Capital expenditures
(29)
(20)
(65)
(51)
Other investing activities
10
—
10
—
Net cash used in investing activities
(19)
(20)
(55)
(51)
Cash Flows From Financing Activities:
Proceeds from issuance of long-term debt
400
—
400
—
Repayments of long-term debt
(4)
(2)
(9)
(2)
Acquisition of treasury stock to cover stock
award tax withholding
(1)
(1)
(33)
(16)
Preferred stock dividend payments
(8)
(8)
(17)
(17)
Other financing activities, net
(3)
—
1
2
Net cash provided by (used in) financing
activities
384
(11)
342
(33)
Effect of foreign exchange rate changes on cash,
cash equivalents and restricted cash
(4)
7
(3)
10
Net increase in cash, cash equivalents and restricted
cash
509
176
287
61
Cash, cash equivalents and restricted cash at
beginning of period
440
578
662
693
Cash, cash equivalents and restricted cash at end of
period
$ 949
$ 754
949
754
Table 4: SUMMARY OF FINANCIAL RESULTS (UNAUDITED)
Q2 2026
Full Year 2026
(in millions)
Products
and
Solutions
ADI Global
Distribution
Corporate
Total
Company
Products
and
Solutions
ADI Global
Distribution
Corporate
Total
Company
Revenue
$ 695
$ 1,286
$ —
$ 1,981
$ 1,401
$ 2,492
$ —
$ 3,893
Cost of goods sold
392
994
—
1,386
803
1,944
—
2,747
Gross profit
303
292
—
595
598
548
—
1,146
Research and development
expenses
37
11
—
48
73
23
—
96
Selling, general and
administrative expenses
110
187
35
332
229
373
70
672
Intangible asset amortization
6
25
—
31
12
49
1
62
Restructuring expenses
12
5
5
22
18
5
5
28
Business separation costs
—
—
31
31
—
—
55
55
Income (loss) from operations
$ 138
$ 64
$ (71)
$ 131
$ 266
$ 98
$ (131)
$ 233
Q2 2025
Full Year 2025
(in millions)
Products
and
Solutions
ADI Global Distribution
Corporate
Total Company
Products
and
Solutions
ADI Global Distribution
Corporate
Total Company
Revenue
$ 666
$ 1,277
$ —
$ 1,943
$ 1,315
$ 2,398
$ —
$ 3,713
Cost of goods sold
380
994
—
1,374
760
1,873
—
2,633
Gross profit
286
283
—
569
555
525
—
1,080
Research and development
expenses
32
9
—
41
59
17
—
76
Selling, general and
administrative expenses
104
179
36
319
205
352
68
625
Intangible asset amortization
6
23
1
30
12
46
2
60
Restructuring expenses
2
1
(1)
2
1
5
—
6
Income (loss) from operations
$ 142
$ 71
$ (36)
$ 177
$ 278
$ 105
$ (70)
$ 313
Q2 2026 % change compared with prior
period
Full Year 2026 % change compared
with prior period
Products
and
Solutions
ADI Global Distribution
Corporate
Total Company
Products
and
Solutions
ADI Global Distribution
Corporate
Total Company
Revenue
4 %
1 %
N/A
2 %
7 %
4 %
N/A
5 %
Cost of goods sold
3 %
— %
N/A
1 %
6 %
4 %
N/A
4 %
Gross profit
6 %
3 %
N/A
5 %
8 %
4 %
N/A
6 %
Research and development
expenses
16 %
22 %
N/A
17 %
24 %
35 %
N/A
26 %
Selling, general and
administrative expenses
6 %
4 %
(3) %
4 %
12 %
6 %
3 %
8 %
Intangible asset amortization
— %
9 %
(100) %
3 %
— %
7 %
(50) %
3 %
Income (loss) from operations
(3) %
(10) %
97 %
(26) %
(4) %
(7) %
87 %
(26) %
NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS
ADJUSTED NET INCOME AND ADJUSTED DILUTED EARNINGS PER SHARE
(UNAUDITED)
Three Months Ended
Six Months Ended
(in millions, except per share data)
July 4, 2026
June 28, 2025
July 4, 2026
June 28, 2025
GAAP Net income (loss)
$ 97
$ (825)
$ 135
$ (819)
Less: preferred stock dividends
8
8
17
17
Less: undistributed income allocated to preferred
stockholders
10
—
13
—
GAAP Net income (loss) available to common
stockholders
79
(833)
105
(836)
Indemnification Agreement expense (1)
—
847
—
902
One-time tax impact of Indemnification Agreement
—
42
—
42
Tax Matters Agreement settlement (2)
(33)
—
(33)
—
Intangible asset amortization
31
30
62
60
Business separation costs
31
—
55
—
Restructuring expense
22
2
28
6
Stock-based compensation expense
14
15
28
30
Litigation settlement
1
—
19
—
Undistributed income allocated to preferred
stockholders
10
—
13
—
Other (3)
(5)
11
(5)
18
Tax effect of applicable non-GAAP adjustments (4)
(22)
(15)
(43)
(29)
Non-GAAP Adjusted net income
$ 128
$ 99
$ 229
$ 193
Three Months Ended
Six Months Ended
July 4, 2026
June 28, 2025
July 4, 2026
June 28, 2025
GAAP Net income (loss) available to common
shareholders per diluted common share
$ 0.51
$ (5.59)
$ 0.68
$ (5.65)
Indemnification Agreement expense (1)
—
5.61
—
5.97
One-time tax impact of Indemnification Agreement
—
0.28
—
0.28
Tax Matters Agreement activity (2)
(0.21)
—
(0.21)
—
Intangible asset amortization
0.20
0.20
0.40
0.40
Business separation costs
0.20
—
0.35
—
Restructuring expense
0.14
0.01
0.18
0.04
Stock-based compensation expense
0.09
0.10
0.18
0.20
Litigation settlement
0.01
—
0.12
—
Undistributed income allocated to preferred
stockholders
0.06
—
0.08
—
Impact of incremental dilutive shares
—
0.07
—
0.11
Other (3)
(0.03)
0.08
(0.03)
0.12
Tax effect of applicable non-GAAP adjustments (4)
(0.14)
(0.10)
(0.27)
(0.19)
Non-GAAP Adjusted diluted earnings per share
$ 0.83
$ 0.66
$ 1.48
$ 1.28
(1)
Refer to the Unaudited Consolidated Statements of Operations herein.
(2)
We recognized a gain of $77 million in Other income and derecognized $44 million of deferred tax assets that were no longer realizable to Income tax expense in connection with the termination of the Tax Matters Agreement.
(3)
For 2026 periods, Other includes net periodic pension benefit costs, excluding service costs, foreign exchange transactions loss (income), gain on sale of assets, and miscellaneous other non-recurring, non-operating income and losses. For 2025 periods, Other includes net periodic pension benefit costs, excluding service costs, foreign exchange transaction loss (income), gain on sale of business, acquisition-related integration costs, and miscellaneous other non-recurring, non-operating income and losses.
(4)
We calculate the tax effect of relevant non-GAAP adjustments by applying a flat statutory tax rate of 25% for all non-deductible and taxable adjustments.
NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS
GAAP NET INCOME AND ADJUSTED EBITDA
(UNAUDITED)
Three Months Ended
Six Months Ended
(in millions)
July 4, 2026
June 28, 2025
July 4, 2026
June 28, 2025
Revenue
$ 1,981
$ 1,943
$ 3,893
$ 3,713
GAAP Net income (loss)
$ 97
$ (825)
$ 135
$ (819)
GAAP Net income (loss) as a % of revenue
4.9 %
(42.5) %
3.5 %
(22.1) %
Provision for income taxes (1)
69
87
86
96
GAAP Net income (loss) before taxes
166
(738)
221
(723)
Indemnification Agreement expense (2)
—
847
—
902
Termination of Tax Matters Agreement (1)
(77)
—
(77)
—
Depreciation and amortization
50
49
101
96
Interest expense, net
46
24
93
49
Business separation costs
31
—
55
—
Stock-based compensation expense
14
15
28
30
Restructuring expenses
22
2
28
6
Litigation settlement
1
—
19
—
Other (3)
(4)
11
(4)
18
Non-GAAP Adjusted EBITDA
$ 249
$ 210
$ 464
$ 378
Non-GAAP Adjusted EBITDA as a % of revenue
12.6 %
10.8 %
11.9 %
10.2 %
(1)
We recognized a gain of $77 million in Other income and derecognized $44 million of deferred tax assets that were no longer realizable to Income tax expense in connection with the termination of the Tax Matters Agreement.
(2)
Refer to the Unaudited Consolidated Statements of Operations herein.
(3)
For 2026 periods, Other includes net periodic pension benefit costs, excluding service costs, foreign exchange transactions loss (income), gain on sale of assets, and miscellaneous other non-recurring, non-operating income and losses. For 2025 periods, Other includes net periodic pension benefit costs, excluding service costs, foreign exchange transaction loss (income), gain on sale of business, acquisition-related integration costs, and miscellaneous other non-recurring, non-operating income and losses.
NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS
(UNAUDITED)
PRODUCTS AND SOLUTIONS SEGMENT
Three Months Ended
Six Months Ended
(in millions)
July 4, 2026
June 28, 2025
July 4, 2026
June 28, 2025
Revenue
$ 695
$ 666
$ 1,401
$ 1,315
GAAP Income from operations
$ 138
$ 142
$ 266
$ 278
GAAP Income from operations as a % of
revenue
19.9 %
21.3 %
19.0 %
21.1 %
Litigation settlement
—
—
18
—
Restructuring expense
12
2
18
1
Stock-based compensation expense
5
4
10
9
Other
1
—
—
—
Non-GAAP Adjusted Income from Operations
$ 156
$ 148
$ 312
$ 288
Depreciation and amortization
21
19
42
37
Non-GAAP Adjusted EBITDA
$ 177
$ 167
$ 354
$ 325
Non-GAAP Adjusted EBITDA as a % of
revenue
25.5 %
25.1 %
25.3 %
24.7 %
.
ADI GLOBAL DISTRIBUTION SEGMENT
Three Months Ended
Six Months Ended
(in millions)
July 4, 2026
June 28, 2025
July 4, 2026
June 28, 2025
Revenue
$ 1,286
$ 1,277
$ 2,492
$ 2,398
GAAP Income from operations
$ 64
$ 71
$ 98
$ 105
GAAP Income from operations as a % of
revenue
5.0 %
5.6 %
3.9 %
4.4 %
Stock-based compensation expense
4
5
8
9
Restructuring expense
5
1
5
5
Litigation settlement
(1)
—
(1)
—
Other
2
2
1
4
Non-GAAP Adjusted Income from Operations
$ 74
$ 79
$ 111
$ 123
Depreciation and amortization
29
28
58
56
Non-GAAP Adjusted EBITDA
$ 103
$ 107
$ 169
$ 179
Non-GAAP Adjusted EBITDA as a % of
revenue
8.0 %
8.4 %
6.8 %
7.5 %
BRIDGE FROM P&S SEGMENT RESULTS TO RESIDEO
(UNAUDITED)
Q1 2026(3)
Q2 2026(3)
1H 2026(3)
(In millions)
P&S Reported Segment Revenue
$ 706
$ 695
$ 1,401
Sales to ADI
46
43
89
Standalone Adjusted Revenue
752
738
1,490
Standalone Adjusted COGS (1)
457
435
892
Standalone Gross Profit
295
303
598
Research and development expenses
37
37
74
Selling, general and administrative expenses
120
109
229
Incremental SG&A (ex: Depr & SBC)
19
20
39
Incremental Depreciation
1
1
2
Incremental SBC
3
3
6
Standalone SG&A (2)
143
133
276
Intangible asset amortization
6
6
12
Incremental Intangible Asset Amortization
1
1
2
Restructuring expenses
6
12
18
Standalone Adjusted Income from operations
102
114
216
Reported Segment AEBITDA
177
$ 177
$ 354
Incremental SG&A (ex: Depr & SBC)
19
20
39
Standalone AEBITDA
$ 158
$ 157
$ 315
Standalone Adjustments in Blue have been calculated as if the ADI Spin-Off had been completed on January 1, 2026.
(1)
Standalone Adjusted COGS reflects a gross up adjustment for intercompany sales to ADI.
(2)
Q1 2026 does not include approximately $7 million of executive, pension, and other nonrecurring costs associated with the Spin-Off of the ADI Global Distribution business.
(3)
Does not include continuing operations basis of accounting. The ADI Spin-Off was completed on August 3, 2026. For the second quarter, Resideo has not yet completed the procedures to account for the ADI segment as discontinued operations. Beginning in the third quarter, Resideo will account for the ADI segment as discontinued operations for such quarter and prior periods.
PTC Therapeutics vyhrála aukci na koupi programu ST-920 pro Fabryho chorobu od Sangamo Therapeutics za 111 milionů USD předem a až 100 milionů USD v milníkových platbách. Podání BLA se očekává ve 4. čtvrtletí 2026.
– Planned acquisition leverages existing regulatory and commercial infrastructure and leadership's experience in Fabry therapy commercialization –
– ST-920 is a one-time administered AAV gene therapy for the enzyme deficient in Fabry disease with demonstrated long-term clinical benefits and safety profile –
– BLA submission expected to be completed in Q4 2026 with potential for commercial launch in 2027 –
– PTC will host a conference call today, Aug. 12, at 5 p.m. ET –
, /PRNewswire/ -- PTC Therapeutics, Inc., (NASDAQ: PTCT) today announced that it was selected as the winning bidder to acquire ST-920 – a BLA-stage one-time administered AAV gene therapy for Fabry disease – from Sangamo Therapeutics in a competitive bankruptcy auction. The terms include $111 million upfront and up to $100 million in contingent milestone payments based on certain regulatory approvals. A rolling BLA submission to FDA for accelerated approval of ST-920 is expected to be completed in Q4 2026. The BLA is based on evidence of meaningful favorable clinical effect on renal function and safety and tolerability profile over 52 weeks in the Phase 1/2 STAAR study.
"This transaction advances our strategy of leveraging our accomplished existing rare disease global commercial infrastructure to accelerate short- and intermediate-term revenue growth," said Matthew B. Klein, M.D., Chief Executive Officer. "The ST-920 gene therapy program puts another innovative and valuable product in the demonstrated capable hands of our customer-facing teams. This was a unique opportunity with the potential for significant return on investment without the need for any development or commercial build and without impacting our objective of reaching cashflow break even in 2026. We look forward to working to bring ST-920 to all individuals who may benefit from this therapy as quickly as possible."
Fabry disease is a rare, inherited lysosomal storage disorder caused by mutations in the GLA gene, resulting in deficiency of the alpha-galactosidase A (α-Gal A) enzyme and causing a range of serious signs and symptoms that require lifelong treatments. It is estimated that there are 11,000 people living with Fabry disease in the United States with similar prevalence rates in markets where PTC has the potential to commercialize.
ST-920 is designed as a one-time administered AAV gene therapy that enables long-term production of the deficient α-Gal A enzyme and significant reduction in globotriaosylceramide (Gb3) levels with demonstrated durable clinical benefit and reduction of the burden associated with chronic Enzyme Replacement Therapy (ERT). ST-920 has received Regenerative Medicine Advanced Therapy (RMAT) designation as well as Orphan Drug and Fast Track designations from FDA.
The Phase 1/2 STAAR study demonstrated positive mean annualized estimated glomerular filtration rate (eGFR) slope at 52 weeks following ST-920 administration, as well as evidence of favorable effect on other aspects of Fabry disease including cardiac function and quality of life. The finding of improved eGFR over 52 weeks is differentiated from other Fabry therapies which demonstrated improved renal function but still negative eGFR slope from baseline. Furthermore, all study participants on ERT at study start were withdrawn from ERT. Durability of effect has been demonstrated with sustained increased α-Gal A activity maintained for up to 4.5 years for the earliest treated study participant, and evidence of maintained improvements in renal function across the study population. In addition, ST-920 has demonstrated an encouraging safety and tolerability profile and there is no requirement for routine prophylactic or post-infusion systemic immunosuppressive agents.
The BLA submission for accelerated approval is based on the intermediate clinical endpoint of annualized eGFR at Week 52 as aligned with FDA, with 104-week results from the STAAR study planned to provide confirmatory evidence to support traditional approval. The nonclinical and clinical BLA modules have already been submitted as part of a rolling submission, with the CMC package expected to be submitted in Q4 2026. PTC will also pursue regulatory approval outside of the United States, again leveraging existing regulatory and commercial rare disease infrastructure.
The acquisition remains subject to definitive documentation, bankruptcy court approval, antitrust review, and other customary closing conditions. It is expected to close in late Q3 or early Q4 2026.
Conference Call and Webcast Details
PTC will hold a conference call today at 5 p.m. ET to discuss this news. To access the live webcast, please visit Events & Presentations within the Investors section of the PTC website. A replay of the webcast will be available on the PTC website for 30 days following the event. To participate via phone, please register in advance here to receive dial-in details.
About the STAAR Study
The Phase 1/2 STAAR study was a global open-label, single-dose, dose-ranging, multicenter clinical study designed to evaluate isaralgagene civaparvovec, or ST-920, a gene therapy product candidate in patients with Fabry disease. Isaralgagene civaparvovec requires a one-time infusion without preconditioning. The STAAR study enrolled patients who were on ERT, were ERT pseudo-naïve (defined as having been off ERT for six or more months), or who were ERT-naïve. The FDA has granted Orphan Drug, Fast Track, and RMAT designations to isaralgagene civaparvovec, which has also received Orphan Medicinal Product designation and PRIME eligibility from the European Medicines Agency and Innovative Licensing and Access Pathway from the U.K. Medicines and Healthcare products Regulatory Agency.
About Fabry Disease
Fabry disease is a lysosomal storage disorder caused by mutations in the galactosidase alpha gene (GLA), which leads to deficient alpha-galactosidase A (α-Gal A) enzyme activity, which is necessary for metabolizing globotriaosylceramide (Gb3). The buildup of Gb3 in the cells can cause serious damage to vital organs, including the kidney, heart, nerves, eyes, gut and skin. Symptoms of Fabry disease can include decreased or absent sweat production, heat intolerance, angiokeratoma (skin blemishes), vision problems, kidney disease, heart failure, gastrointestinal disturbance, mood disorders, neuropathic pain and tingling in the extremities.
About PTC Therapeutics, Inc.
PTC is a global biopharmaceutical company dedicated to the discovery, development and commercialization of clinically differentiated medicines for children and adults living with rare disorders. PTC is advancing a robust and diversified pipeline of transformative medicines as part of its mission to provide access to best-in-class treatments for patients with unmet medical needs. The company's strategy is to leverage its scientific expertise and global commercial infrastructure to optimize value for patients and other stakeholders. To learn more about PTC, please visit www.ptcbio.com and follow us on LinkedIn, X, Facebook and Instagram.
For more information please contact:
Investors:
Ellen Cavaleri
+1 (615) 618-8228
[email protected]
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. All statements contained in this release, other than statements of historic fact, are forward-looking statements, including the Company's expectations regarding the proposed acquisition, including the expectation of finalizing definitive documentation for the transaction and the entry of an bankruptcy court order approving the transaction; the Company's ability to complete the acquisition; the anticipated benefits of ST-920; the timing of and potential for regulatory submissions and potential commercial launch for ST-920, if acquired; and PTC's strategy, future operations, future financial position, future revenues, projected costs; and the objectives of management. Other forward-looking statements may be identified by the words, "guidance," "plan," "anticipate," "believe," "estimate," "expect," "intend," "may," "target," "potential," "will," "would," "could," "should," "continue," "aim," and similar expressions.
PTC's actual results, performance or achievements could differ materially from those expressed or implied by forward-looking statements it makes as a result of a variety of risks and uncertainties, including those related to: uncertainty surrounding the bankruptcy's court entry of an order approving the acquisition and the possibility that the acquisition is not completed; the outcome of pricing, coverage and reimbursement negotiations with third party payors for PTC's products or product candidates that PTC commercializes or may commercialize in the future; expectations with respect to Sephience, including commercialization and the potential achievement of sales milestones and contingent payments that PTC may be obligated to make; PTC's ability to maintain its marketing authorization of Translarna for the treatment of nmDMD in geographies in which it has been approved and the effect of the European Commission's adoption of the negative opinion from the Committee for Medicinal Products for Human Use (CHMP) on Translarna and the withdrawal of the Translarna NDA in the US on other regulatory bodies; expectations with respect to PTC's license and collaboration agreement with Novartis Pharmaceuticals Corporation for votoplam for the treatment of Huntington's disease including its right to receive development, regulatory and sales milestones, profit sharing and royalty payments from Novartis, the design and expected timing of clinical trials and studies, the availability of data, and regulatory submissions and responses, including potential accelerated approval; expectations with respect to Upstaza/Kebilidi, including commercialization, manufacturing capabilities, and the potential achievement of sales milestones and contingent payments that PTC may be obligated to make; expectations with respect to vatiquinone, including with respect to the design and expected timing of clinical trials and studies, the availability of data, and regulatory submissions and responses and potential approvals and other matters; expectations with respect to the commercialization of Evrysdi under PTC's SMA collaboration; expectations with respect to the commercialization of Tegsedi and Waylivra; expectations regarding PTC's product candidates, including the timing of clinical trials and studies; significant business effects, including the effects of industry, market, economic, political or regulatory conditions; changes in tax and other laws, regulations, rates and policies; the eligible patient base and commercial potential of PTC's products and product candidates; PTC's scientific approach and general development progress; PTC's ability to satisfy its obligations under the terms of its lease agreements; the sufficiency of PTC's cash resources and its ability to obtain adequate financing in the future for its foreseeable and unforeseeable operating expenses and capital expenditures; and the factors discussed in the "Risk Factors" section of PTC's Annual Report on Form 10-K, as well as any updates to these risk factors filed from time to time in PTC's other filings with the SEC. You are urged to carefully consider all such factors.
The forward-looking statements contained herein represent PTC's views only as of the date of this press release and PTC does not undertake or plan to update or revise any such forward-looking statements to reflect actual results or changes in plans, prospects, assumptions, estimates or projections, or other circumstances occurring after the date of this press release except as required by law.
, /PRNewswire/ -- Century Communities, Inc. (NYSE: CCS), one of the nation's largest homebuilders, today announced that its Board of Directors has declared a quarterly cash dividend of $0.32 per share. This dividend is payable on September 9, 2026 to stockholders of record as of the close of business on August 26, 2026.
About Century Communities:
Century Communities, Inc. (NYSE: CCS) is one of the nation's largest homebuilders and a recognized industry leader in online home sales. Newsweek has named the Company one of America's Most Trustworthy Companies for four consecutive years. Century Communities has also been designated as one of U.S. News & World Report's Best Companies to Work For (2025–2026). Through its Century Communities and Century Complete brands, Century's mission is to build attractive, high-quality homes at affordable prices to provide its valued customers with A HOME FOR EVERY DREAM®. Century is engaged in all aspects of homebuilding — including the acquisition, entitlement and development of land, along with the construction, innovative marketing and sale of quality homes designed to appeal to a wide range of homebuyers. The Company operates in 16 states and over 45 markets across the U.S., and also offers mortgage, title, insurance brokerage, and escrow services in select markets through its Inspire Home Loans, Parkway Title, IHL Home Insurance Agency, and IHL Escrow subsidiaries. To learn more about Century Communities, please visit www.centurycommunities.com.
Contact Information:
Tyler Langton, Senior Vice President of Investor Relations and Finance
303-268-8345
[email protected]
Delek Logistics Partners spustila veřejnou nabídku kmenových jednotek v objemu 175 milionů USD. Upisovatelé mohou navíc koupit až za 26,25 milionu USD.
BRENTWOOD, Tenn.--(BUSINESS WIRE)--Delek Logistics Partners, LP (NYSE: DKL) (“Delek Logistics”) announced today that it has commenced an underwritten public offering of $175 million of common units representing limited partner interests in Delek Logistics pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission (the “SEC”). A preliminary prospectus supplement relating to the offering will also be filed with the SEC. Delek Logistics intends to grant the underwriters a 30-day option to purchase up to an additional $26.25 million of common units. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
Delek Logistics intends to use the net proceeds from the offering (including any net proceeds from the underwriters’ exercise of their option to purchase additional common units) to repay outstanding borrowings under its revolving credit agreement and for general partnership purposes.
Truist Securities, Inc., Mizuho, and Raymond James & Associates, Inc. are acting as joint book-running managers for the offering. A copy of the preliminary prospectus supplement and accompanying base prospectus relating to this offering may be obtained from any of the underwriters, including Truist Securities, Inc. at 740 Battery Ave SE, 3rd Floor, Atlanta, Georgia 30339, Attention: Equity Capital Markets or by email at [email protected]; Mizuho at 1271 Avenue of the Americas, 3rd Floor, New York, NY 10020, Attention: Equity Capital Markets or by email at [email protected]; and Raymond James & Associates, Inc. at 880 Carillon Parkway, St. Petersburg, Florida 33716, Attention: Equity Syndicate or by email at [email protected]. You may also obtain these documents for free when they are available by visiting the SEC’s website at www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering may be made only by means of a prospectus and related prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended (the “Securities Act”).
About Delek Logistics Partners, LP
Delek Logistics is a midstream energy master limited partnership headquartered in Brentwood, Tennessee. Through its owned assets and joint ventures located primarily in and around the Permian Basin, the Delaware Basin and other select areas in the Gulf Coast region, Delek Logistics provides gathering, pipeline and other transportation services primarily for crude oil and natural gas customers, storage, wholesale marketing and terminalling services primarily for intermediate and refined product customers, and water disposal and recycling services.
Delek Holdings (NYSE: DK) owns the general partner interest as well as a majority limited partner interest in Delek Logistics and is also a significant customer.
Forward Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, including statements regarding the closing of the offering and the anticipated use of the net proceeds therefrom. These statements may contain words such as “possible,” “believe,” “should,” “could,” “would,” “predict,” “plan,” “estimate,” “intend,” “may,” “anticipate,” “will,” “if,” “expect” or similar expressions, as well as statements in the future tense, are made as of the date they were first issued and are based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond Delek Logistics’ control. Delek Logistics’ actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including, but not limited to, market risks and uncertainties, including those which might affect the offering. These and other potential risks and uncertainties that could cause actual results to differ from the results predicted are more fully detailed in Delek Logistics’ filings and reports with the SEC, including the Annual Report on Form 10-K for the year ended December 31, 2025, the Quarterly Reports on Form 10-Q for the quarterly periods ended March 31, 2026 and June 30, 2026 and other reports and filings with the SEC.
Ředitel společnosti Remitly Global Nigel W. Morris prodal 8 938 akcií za průměrnou cenu 25,43 USD a stále drží 1 882 056 akcií. Akcie jsou letos výše, ale zůstávají asi 45 % pod post-IPO maximy.
Remitly Global, Inc. (RELY +2.63%) Director Nigel W. Morris reported a sale of 8,938 shares of common stock on August 7, according to an SEC Form 4 filing.
Transaction summaryMetricValueTransaction value$227,293Shares sold (directly held)8,938Post-transaction shares (directly held)1,882,056Post-transaction value$45.96 millionTransaction value based on SEC Form 4 weighted average sale price ($25.43); post-transaction value based on the August 7 market close ($24.42).
Key questionsWhat was the nature of this transaction?
Morris executed a direct open-market sale of 8,938 shares at a weighted average price of $25.43 per share. This was a discretionary move that did not involve tax-related withholding or a pre-arranged trading plan, according to the filing.How does this impact the insider's equity position?
The sale reduced the director's total direct equity stake by 0.5%. Despite the transaction, the reporting person maintains a substantial position of 1,882,056 shares with a market value of $45.96 million as of the August 7 close.What is the broader ownership context for Remitly Global?
The current holding reported by the director is held entirely in a direct capacity, with no indirect holdings or derivative securities disclosed in this specific filing.Where does the stock price sit relative to the transaction?
The shares were sold at $25.43, slightly above the market close of $24.42 on the day of the trade. As of the August 10 market close, the stock was priced at $23.14.Company OverviewMetricValueShare Price (as of market close 2026-08-10)$23.14Market Capitalization$4.9 billionRevenue (TTM)$1.8 billionNet Income (TTM)$305.0 millionCompany SnapshotRemitly Global specializes in digital financial services for immigrants and their families, with a primary focus on international money transfers operating across 170 countries, generating revenue through transaction fees and value-added financial services.The company operates a digital-first platform that enables customers to send money internationally with competitive pricing and fast settlement times, monetizing through transaction fees, foreign exchange margins, and complementary financial products.Remitly's primary customers are immigrant workers and their families in developing markets who rely on remittances for household income, with a strategic focus on emerging markets where traditional banking infrastructure remains limited.Remitly Global is a leading digital remittance platform serving the global immigrant population with a market capitalization of $4.9 billion and TTM revenue of $1.8 billion. The company has established a scalable technology infrastructure that enables cross-border payments at lower costs than traditional money transfer operators, positioning itself as a disruptive alternative to legacy remittance channels. With a growing base of digital-native customers, Remitly maintains competitive advantages through its technology platform, operational efficiency, and deep understanding of emerging market customer needs.
What this transaction means for investorsMorris trimmed just half a percent of his stake and kept more than 1.8 million shares, which reads closer to a small housekeeping sale than a signal long-term investors should read into. Yes, this was a discretionary open-market trade, not tax withholding or a scheduled exercise, but in light of the transaction size, that simply makes the restraint more telling than the sale.
Meanwhile, Remitly has more than earned investor patience lately. It grew second-quarter revenue 20% to $495 million, crossed 10 million active customers for the first time, and lifted adjusted EBITDA 79% to a record $115 million. New CEO Sebastian Gunningham called the quarter "a direct reflection of" the company's strategy and share gains, with the stock roughly doubling off its lows this year. Even after that run, shares sit around 45% below their post-IPO highs, so it could be that Morris is waiting for the stock to finish closing that gap, and that’s ultimately a good indication for long-term investors, along with the firm’s latest earnings.
Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
H.B. Fuller potvrdila nevyžádaný návrh od Ancora Holdings na koupi divize Building Adhesives Solutions za 1,1 až 1,2 miliardy USD v hotovosti. Představenstvo nabídku posoudí.
ST. PAUL, Minn.--(BUSINESS WIRE)--H.B. Fuller Company (“H.B. Fuller” or “the Company”) (NYSE: FUL), the world’s largest pureplay adhesives company, confirmed receipt of an unsolicited proposal today from Ancora Holdings Group to acquire its Building Adhesives Solutions (“BAS”) business for between $1.1 billion and $1.2 billion in cash.
Although Ancora previously expressed a passing verbal interest in BAS, the letter received today, simultaneous to the news being made public, represents the first offer that Ancora has made for this business.
H.B. Fuller’s management team and Board of Directors regularly review the Company’s portfolio to maximize shareholder value creation. Consistent with that focus, the Board will carefully evaluate the proposal in consultation with its financial and legal advisors.
About H.B. Fuller
As the largest pureplay adhesives company in the world, H.B. Fuller’s (NYSE: FUL) innovative, functional coatings, adhesives and sealants enhance the quality, safety and performance of products people use every day. Founded in 1887, with 2025 revenue of $3.5 billion, our mission to Connect What Matters is brought to life by more than 7,100 global team members who collaborate with customers across more than 30 market segments in 150 countries to develop highly specified solutions that enable customers to bring world-changing innovations to their end markets. Learn more at www.hbfuller.com.
Sherritt ve 2. čtvrtletí vykázal čistou ztrátu 71,1 mil. CAD a po sankcích USA pozastavil přímou účast v kubánských společných podnicích Moa a Energas.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
TORONTO--(BUSINESS WIRE)--Sherritt International Corporation (“Sherritt”, the “Corporation”) (TSX: S) today reported its financial results for the three and six months ended June 30, 2026. All amounts are in Canadian dollars unless otherwise noted.
“The second quarter was marked by significant challenges and disruption,” said Peter Hancock, Interim President and Chief Executive Officer. “Against this backdrop, we remained focused on preserving liquidity, maintaining safety, maximizing fertilizer production, and advancing stakeholder engagement and strategic initiatives necessary to prepare for a restart of our critical minerals mining and refining operations subject to U.S. government approval. We are continuing to work with urgency and discipline to deliver a solution that supports the long-term stability and viability of our business.”
SECOND QUARTER 2026 SELECTED DEVELOPMENTS(1)
Operational update
On May 7, 2026, as a result of the Executive Order issued by the U.S. administration on May 1, 2026 expanding its sanctions against persons and companies conducting business in Cuba (the “Executive Order”), Sherritt suspended its direct participation in both its Moa and Energas joint venture activities in Cuba.
As a result of fuel supply disruptions in Cuba and challenges procuring other input commodities and supplies at the mine site, feed inventory at the refinery in Fort Saskatchewan, Alberta was depleted on June 22, 2026. Mining and processing operations at the mine ceased near the end of the quarter.
During the refinery downtime, the Corporation will complete necessary maintenance activities that do not require significant capital investment. The Corporation continues to produce fertilizers and sulphuric acid for sale.
Operational performance
Finished nickel and cobalt production at the Moa Joint Venture (“Moa JV”) was 1,319 tonnes and 135 tonnes, respectively, (Sherritt’s share(1)). Finished nickel and cobalt sales were 1,720 tonnes and 167 tonnes, respectively(1). Fertilizer sales were 52,328 tonnes(1) as Sherritt prioritized initiatives to maximize fertilizer production at Fort Site. Net direct cash cost (“NDCC”)(2) of US$7.31/lb was primarily impacted by the higher sulphur prices and significantly lower nickel production and sales volumes. Electricity production was 207 GWh. Production was not affected by fuel supply disruptions to Cuba as Energas processes domestically sourced raw natural gas to generate electricity. Electricity unit operating cost(2) was $13.36/MWh primarily reflecting lower maintenance costs and higher electricity production and sales. Financial performance
Net loss from continuing operations was $71.1 million, or $(0.10) per share. Adjusted net loss from continuing operations(2) was $24.8 million or $(0.04) per share which primarily excludes the $38.6 million loss from operations of Sherritt’s Oil and Gas division, primarily due to a $36.1 million contractually obligated environmental rehabilitation cost update on legacy assets in Spain in Q2 2026. In addition, the current year period excludes a $6.8 million non-cash net loss on revaluation of the GNC(3) receivable and Energas payable pursuant to the Cobalt Swap agreement(4). Adjusted net loss from continuing operations for Q2 2025 primarily excludes a $32.4 million gain on the Debt and Equity Transactions(5). Adjusted EBITDA(2) was $(2.0) million. Available liquidity in Canada as at June 30, 2026 was $80.1 million. Organizational updates
On April 7, 2026, the Corporation completed a non-brokered private placement of common shares, issuing approximately 207 million shares at $0.21 per share for total gross proceeds of $43.6 million. In April 2026, foreign currency payments from the Moa JV to Energas pursuant to the Moa Swap ceased as a result of reduced operations at the Moa JV which reduced the Moa JV’s cash available in major foreign currencies. Dividends from Energas to the Corporation in Canada ceased. On May 1, 2026, the Executive Order was issued by the U.S. administration expanding its sanctions against persons and companies conducting business in Cuba. Sherritt International Corporation, the legal entity, has not, nor has any of its officers or directors, been sanctioned following issuance of the Executive Order. On May 7, 2026 Sherritt announced: It suspended its direct participation in both its Moa and Energas joint venture activities in Cuba, and that it took steps to repatriate Sherritt’s expatriate employees on assignment in Cuba and requested that partners repatriate their expatriate personnel on assignment in Canada. Brian Imrie, Richard Moat and Brett Richards resigned from its board of directors (the “Board”). On May 13, 2026, Sherritt announced: Deloitte LLP resigned as the Corporation’s external auditor, effective May 12, 2026. The resignation was not the result of any disagreement between the Corporation and Deloitte on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure. Deloitte’s reports on the Corporation’s previously issued financial statements did not contain any adverse opinion or a disclaimer of opinion, and was not qualified or modified as to uncertainty, audit scope, or accounting principles. Sherritt commenced a request for proposal process for external audit services to identify a successor auditor. Yasmin Gabriel resigned as Chief Financial Officer. On May 14, 2026, Sherritt announced that pursuant to its application in the Ontario Superior Court of Justice, Commercial List, it was granted (i) an order under the Canada Business Corporations Act (the “CBCA”) permitting the Corporation’s Board to continue to act with two directors until no later than September 30, 2026, (ii) an order under the CBCA permitting the Corporation to continue to operate without an external auditor until no later than September 30, 2026, and (iii) an order extending the time for Sherritt to call its annual meeting of shareholders to not later than September 30, 2026. On May 15, 2026, Sherritt announced that in light of the May 1, 2026 Executive Order, it intended to invoke its dissolution rights under the Moa Shareholders’ Agreement and Energas Association Agreement and seek relief from the Alberta Court of King’s Bench to facilitate accelerated dissolution to the extent possible. The intended outcome was to allow Sherritt to most definitively address the Executive Order by eliminating Sherritt’s Cuban interests. Further, the separation from Cuba was intended to assist Sherritt in addressing issues that could arise from the Executive Order such as difficulties in obtaining an auditor or banking services. On May 19, 2026, following further and ongoing consultation with its advisors, stakeholders and relevant governmental authorities, and in light of additional information available to the Corporation, it would no longer proceed with the dissolution and disclaimer steps relating to its interests in Cuba and would not proceed with its application to the Alberta Court of King’s Bench. On May 20, 2026, Sherritt announced that it had entered into a non-binding term sheet with Gillon Capital, LLC (“Gillon Capital”) with respect to a proposed private placement of a common share purchase warrant (the “Warrant”), exercisable for up to that number of common shares of the Corporation such that, immediately upon exercise in full of the Warrant, Gillon Capital would own 55% of the common shares then issued and outstanding (the “Gillon Private Placement”). The Warrant will be exercisable at a price to be agreed by the parties for a period ending nine months from the closing date, subject to satisfaction of certain conditions precedent, including compliance with the Corporation’s existing contractual arrangements and debt agreements. Given the current circumstances of the Corporation, management expects that such exercise price will be at a discount to the closing price of the common shares on May 15, 2026. The Gillon Private Placement remains subject to the execution of definitive documentation and the transaction is expected to be subject to the satisfaction of customary conditions and the receipt of all required regulatory approvals, including approval of the Toronto Stock Exchange. In connection with the Gillon Private Placement, Sherritt engaged constructively with the United States Department of State, which confirmed that the Department of State and Department of Treasury do not object to Gillon Capital’s engagement in negotiations with the Corporation and, based on the information provided to date, do not consider such negotiations to be contrary to U.S. law. Any subsequent transaction will be subject to approval of the Department of State and Department of Treasury.
On June 15, 2026, Sherritt entered into an exclusivity agreement with Gillon Capital providing for a 120-day period of exclusive negotiations with respect to the non-binding term sheet regarding the Gillon Private Placement. The period of exclusivity was entered into to allow the parties to complete their respective due diligence reviews and negotiate a definitive agreement with respect to the Gillon Private Placement. On May 22, 2026, Sherritt announced that its principal regulator, the Ontario Securities Commission, issued a failure-to-file cease trade order (“FFCTO”) against the Corporation, effective May 21, 2026, as a result of the Corporation’s failure to file its first quarter 2026 interim financial statements, management’s discussion and analysis and related officer certifications (collectively, the “Q1 Filing“).by the filing deadline on May 15, 2026. The Corporation was unable to complete the filings as a result of operational and governance disruptions following the Executive Order. The Q1 Filing was made on June 25, 2026 and the FFCTO was revoked on July 9, 2026 with shares commencing trading on July 10, 2026. On June 3, 2026, Sherritt announced it had appointed Fitzroy Richardson as Interim Chief Financial Officer to provide experienced financial leadership as the Corporation works to complete its outstanding quarterly filings, an important step toward seeking a revocation of the FFCTO. Mr. Richardson is a seasoned finance executive with nearly 30 years of experience at Sherritt, where he has held a range of senior finance and treasury roles. On June 14, 2026, Sherritt appointed Tabrez Khan as an independent director, bringing deep M&A, financial and strategic advisory experience to the Board. Mr. Khan was nominated to the Board by Kyma Capital Opportunities Master Fund Limited (“Kyma”), pursuant to Kyma’s nomination right under the investor rights agreement dated as of April 22, 2025 between the Corporation and Kyma. Concurrent with Mr. Khan’s appointment to the Board, he was appointed to the audit committee of the Board (the “Audit Committee”). Following Mr. Khan’s appointment, the Audit Committee consists of Dr. Peter Hancock, Ms. Chih-Ting Lo, and Mr. Khan. As Dr. Hancock is the interim Chief Executive Officer of Sherritt, he is not considered independent under National Instrument 52-110 – Audit Committees (“NI 52-110”). Sherritt is relying on the temporary exemption provided in Section 3.5 of NI 52-110 for Dr. Hancock’s membership on the Audit Committee. Following Mr. Khan’s appointment, the Audit Committee is compliant with the requirements of NI 52-110 and the rules of the Toronto Stock Exchange. In respect of the Corporation’s Credit Facility: As a result of the issuance of the Executive Order, a material adverse change to the Corporation's business occurred which would give the administrative agent (on behalf of the lenders) the ability to call an event of default under the Credit Facility and demand repayment of all indebtedness currently owing thereunder. On May 31, 2026, the borrowing base of the Credit Facility was $76.3 million, which was below the then aggregate borrowings of $79.5 million including outstanding letters of credit. As a result of this deficiency, the lenders issued a notice of excess borrowing and required the Corporation to repay the difference of $3.2 million during the three months ended June 30, 2026. During the three months ended June 30, 2026, the Corporation was not in compliance with the EBITDA-to-Interest Expense covenant, as defined in the Credit Facility agreement. The Corporation does not have the ability to make further draws on the Credit Facility at this time. Refer to the Liquidity section of the Corporation’s Management’s Discussion and Analysis for the three and six months ended June 30, 2026 (“MD&A”) for further details. DEVELOPMENTS SUBSEQUENT TO THE QUARTER
Credit Facility update
On June 30, 2026, the borrowing base of the Credit Facility was $43.1 million, which was below the amount of the then aggregate borrowings of $76.3 million including outstanding letters of credit. As a result of this deficiency, the lenders issued a notice of excess borrowing and the Corporation repaid 50% of the June 30, 2026 borrowing base deficiency amounting to $16.6 million subsequent to period end in return for the lenders agreeing not to act on the Corporation’s default to pay the full amount of the deficiency. As of August 12, 2026, the administrative agent under the Credit Facility has not issued a notice of an event of default and no demand for repayment of the loan obligations has been made, other than the notices of excess borrowings noted above. Q2 2026 FINANCIAL HIGHLIGHTS
For the three months ended
For the six months ended
$ millions, except per share amount
2026
June 30
2025
June 30
Change
2026
June 30
2025
June 30
Change
Revenue
$
59.3
$
43.7
36
%
$
93.3
$
82.1
14
%
Combined revenue(1)
132.1
135.6
(3
%)
238.7
261.3
(9
%)
Loss from operations and joint venture
(52.7
)
(19.4
)
(172
%)
(64.8
)
(51.2
)
(27
%)
Net (loss) earnings from continuing operations
(71.1
)
10.4
(784
%)
(80.3
)
(30.2
)
(166
%)
Net (loss) earnings for the period
(71.1
)
10.2
(797
%)
(80.3
)
(30.4
)
(164
%)
Adjusted EBITDA(1)
(2.0
)
2.6
(177
%)
5.6
7.0
(20
%)
Adjusted loss from continuing operations(1)
(24.8
)
(25.6
)
3
%
(36.7
)
(47.8
)
23
%
Net (loss) earnings from continuing operations ($ per share)
(0.10
)
0.02
(600
%)
(0.14
)
(0.07
)
(100
%)
Adjusted loss from continuing operations ($ per share)(1)
(0.04
)
(0.06
)
33
%
(0.06
)
(0.11
)
45
%
Cash provided by continuing operations for operating activities
38.9
5.6
595
%
25.8
6.6
291
%
Combined free cash flow(1)
35.0
2.8
nm(2)
30.3
(3.8
)
897
%
Average exchange rate (CAD/US$)
1.384
1.384
-
1.378
1.409
(2
%)
$ millions, as at
2026
June
30
2025
December
31
Change
Cash and cash equivalents
Canada
$
80.1
$
13.4
498
%
Cuba(3)
119.8
109.4
10
%
Other
3.9
2.1
86
%
203.8
124.9
63
%
Loans and borrowings
323.2
316.0
2
%
The Corporation's share of cash and cash equivalents in the Moa Joint Venture, not included in the above balances:
$
5.4
$
12.8
(58
%)
Cash and cash equivalents were $203.8 million as at June 30, 2026 compared to $123.6 million at March 31, 2026. As at June 30, 2026, total available liquidity in Canada was $80.1 million, composed of cash and cash equivalents in Canada. The Corporation did not have availability under its Credit Facility at the end of the quarter.
During the quarter, Sherritt received $42.5 million in net proceeds from the common share private placement completed on April 7, 2026.
As well during the three months ended June 30, 2026, the Corporation received $128.7 million of cash receipts for nickel, cobalt and fertilizer sales and other working capital items from the Moa JV in the Corporate and Other segment in response to the Executive Order and the Corporation’s suspension of its direct participation in joint venture activities in Cuba effective May 7, 2026 and is being used to fund working capital. The cash receipts are recognized as accounts payable to the Moa JV and included in trade accounts payable and accrued liabilities and settled through the incurrence of costs by the Corporation on behalf of the Moa JV’s Canadian operations.
See the Liquidity section of the MD&A for additional details on the Credit Facility and cash flows.
REVIEW OF OPERATIONS
Metals
For the three months ended
For the six months ended
$ millions (Sherritt's share), except as otherwise noted
2026
June 30
2025
June 30
Change
2026
June 30
2025
June 30
Change
FINANCIAL HIGHLIGHTS(1)
Revenue
$
117.5
$
124.7
(6
%)
$
211.3
$
238.4
(11
%)
Cost of sales
130.8
130.1
1
%
232.5
249.2
(7
%)
Loss from operations
(14.9
)
(7.4
)
(101
%)
(24.1
)
(16.0
)
(51
%)
Adjusted EBITDA(2)
0.3
7.8
(96
%)
6.0
13.3
(55
%)
CASH FLOW(1)
Cash (used) provided by continuing operations for operating activities(2)
$
(26.2
)
$
20.0
(231
%)
$
(27.9
)
$
41.9
(167
%)
Free cash flow(2)
(28.0
)
6.4
(538
%)
(35.1
)
17.8
(297
%)
PRODUCTION VOLUMES (tonnes)
Mixed sulphides ("MSP")(4)
934
3,238
(71
%)
2,745
6,395
(57
%)
Finished nickel
1,319
3,431
(62
%)
3,204
6,378
(50
%)
Finished cobalt
135
389
(65
%)
348
712
(51
%)
Fertilizer
56,344
65,207
(14
%)
109,348
121,027
(10
%)
NICKEL RECOVERY(5) (%)
74
%
83
%
(11
%)
79
%
84
%
(6
%)
SALES VOLUMES (tonnes)
Finished nickel
1,720
3,256
(47
%)
3,964
6,695
(41
%)
Finished cobalt
167
380
(56
%)
370
836
(56
%)
Fertilizer
52,328
44,614
17
%
79,700
77,734
3
%
AVERAGE-REFERENCE PRICE(6) (US$ per pound)
Nickel
$
8.22
$
6.88
19
%
$
8.05
$
6.97
15
%
Cobalt
26.50
17.50
51
%
26.24
15.24
72
%
AVERAGE-REALIZED PRICE(2) (CAD)
Nickel ($ per pound)
$
11.27
$
9.57
18
%
$
10.93
$
9.78
12
%
Cobalt ($ per pound)
34.51
18.19
90
%
33.54
15.51
116
%
Fertilizer ($ per tonne)
701.78
674.44
4
%
630.62
591.10
7
%
UNIT OPERATING COST(2) (US$)
Nickel - net direct cash cost (US$ per pound)
$
7.31
$
5.27
39
%
$
7.13
$
5.64
26
%
SPENDING ON CAPITAL(2)(CAD)
Sustaining
Moa JV (50% basis), Fort Site (100% basis)
$
-
$
7.6
(100
%)
$
0.7
$
16.4
(96
%)
Moa JV - Tailings facility (50% basis)
1.8
5.0
(64
%)
6.5
9.8
(34
%)
Growth - Moa JV (50% basis)
-
2.3
(100
%)
-
4.0
(100
%)
$
1.8
$
14.9
(88
%)
$
7.2
$
30.2
(76
%)
On May 7, 2026, Sherritt announced that it suspended its direct participation in both its Moa and Energas joint venture activities in Cuba in response to the Executive Order issued by the U.S. administration on May 1, 2026.
Revenue
Metals revenue was $117.5 million compared to $124.7 million in the prior year period.
Nickel revenue was $42.8 million compared to $68.6 million in the prior year period primarily due to lower nickel sales volume partly offset by higher average-realized price(1). Sales volume of 1,720 tonnes compared to 3,256 tonnes in the prior year period primarily as a result of lower finished production outlined below. The average-realized price(1) of nickel of $11.27/lb was 18% higher compared to the prior year period.
Cobalt revenue was $12.8 million compared to $15.2 million in the prior year period primarily due to lower sales volume partly offset by higher average-realized price(1). Sales volume was 167 tonnes compared to 380 tonnes in the prior year period primarily as a result of lower finished production outlined below. The average-realized price(1) of cobalt of $34.51/lb was 90% higher compared to the prior year period.
Fertilizer revenue was $36.8 million compared to $30.0 million in the prior year period primarily due to higher sales volume and average-realized price(1). Sales volume of 52,328 tonnes compared to 44,614 tonnes in the prior year period. The average-realized price(1) of fertilizers of $701.78/tonne was 4% higher compared to the prior year period. The Corporation continues to produce fertilizers and sulphuric acid for sale.
Other revenue includes 450 tonnes (50% basis) of mixed sulphides sales following Sherritt’s suspension of its direct participation in its joint venture activities in Cuba.
Production
As a result of fuel supply disruptions in Cuba and challenges procuring other input commodities and supplies at the mine site, only small quantities of mixed sulphides were produced during the quarter. Mixed sulphides production at the Moa JV was 934 tonnes compared to 3,238 tonnes in the prior year period. Mining and processing operations at the mine ceased near the end of the quarter.
At the refinery in Fort Saskatchewan, Alberta, metals production was maintained at reduced rates during the quarter until June 22, 2026 when the mixed sulphides inventory was depleted and metals refining activity stopped. Sherritt’s share of finished nickel and cobalt production was 1,319 tonnes and 135 tonnes, compared to 3,431 tonnes and 389 tonnes, respectively, in the prior year period.
Fertilizer production was 56,344 tonnes, compared to 65,207 tonnes in the prior year quarter. Fertilizer production was lower in the current year period primarily due to lower metals production. Sherritt expects to conduct a planned acid plant maintenance shutdown in the third quarter 2026.
NDCC(1)
NDCC(1) per pound of nickel sold was US$7.31/lb compared to US$5.27/lb in the prior year period. Higher NDCC(1), and its components, were, in part, impacted by significantly lower nickel sales volume compared to the prior year period.
Mining, processing and refining costs per pound of nickel sold (“MPR/lb”) was higher primarily as a result of higher input commodity prices and the impact of the higher allocation of fixed costs over the significantly lower nickel sales volume. Sulphur, diesel and natural gas prices were 78%, 59% and 27% higher, respectively, while fuel oil prices were 29% lower in the current year period compared to Q2 2025. The joint venture did not purchase additional sulphur during the quarter.
Cobalt by-product credits were higher primarily as a result of the higher average-realized price(1) of cobalt.
Fertilizer net by-product credits were higher primarily as a result of the impact of significantly lower nickel sales volume on marginally higher net contribution from fertilizer sales during the current year quarter compared to Q2 2025.
Spending on capital(1)
Sustaining spending on capital was nil compared to $7.6 million and spending on capital related to the tailings facility was $1.8 million compared to $5.0 million, respectively. Spending on capital was lower in the current year period as Metals deferred non-essential capital spending to manage liquidity and the impact of the Executive Order which limited the joint venture’s ability to procure or receive delivery of capital assets.
Power
For the three months ended
For the six months ended
$ millions (33 ⅓% basis), except as otherwise noted
2026
June 30
2025
June 30
Change
2026
June 30
2025
June 30
Change
FINANCIAL HIGHLIGHTS
Revenue
$
14.5
$
10.6
37
%
$
27.1
$
22.0
23
%
Cost of sales
3.2
5.0
(36
%)
7.2
11.9
(39
%)
Earnings from operations
9.8
4.3
128
%
17.2
7.0
146
%
Adjusted EBITDA(1)
10.4
5.0
108
%
18.4
8.4
119
%
CASH FLOW
Cash provided by continuing operations for operating activities(1)
$
22.8
$
16.0
43
%
$
35.7
$
16.9
111
%
Free cash flow(1)
22.7
15.2
49
%
35.4
16.0
121
%
PRODUCTION AND SALES
Electricity (GWh(2))
207
176
18
%
416
346
20
%
AVERAGE-REALIZED PRICE(1)
Electricity ($/MWh(2))
$
52.58
$
52.56
-
$
52.35
$
53.53
(2
%)
UNIT OPERATING COSTS(1)
Electricity ($/MWh)
$
13.36
$
24.80
(46
%)
$
15.09
$
31.03
(51
%)
SPENDING ON CAPITAL(1)
Sustaining
$
0.1
$
0.8
(88
%)
$
0.3
$
0.9
(67
%)
On May 7, 2026, Sherritt announced that it suspended its direct participation in both its Moa and Energas joint venture activities in Cuba in response to the Executive Order issued by the U.S. administration on May 1, 2026.
Revenue
Revenue was $14.5 million compared to $10.6 million in the prior year period. primarily due to increased electricity production as discussed below.
Production
Production volume was 207 GWh compared to 176 GWh in the prior year period primarily as a result of lower maintenance activities in the current year period. Energas processes domestically sourced raw natural gas to generate electricity and has not been affected by fuel supply disruptions in Cuba.
Unit operating cost(1)
Unit operating cost(1) was $13.36/MWh compared to $24.80/MWh in the prior year period primarily as a result of lower maintenance costs. As a result of the discontinuation of the Moa Swap in April, the joint venture prioritized and deferred certain planned maintenance activities to preserve liquidity and access to foreign currencies.
Spending on capital(1)
Spending on capital(1) was $0.1 million.
Dividends from Energas
In April 2026, foreign currency payments from the Moa JV to Energas facilitated by the Moa Swap ceased as a result of reduced operations at the Moa JV which reduced the Moa JV’s cash available in major foreign currencies. Dividends from Energas to the Corporation in Canada ceased.
FINANCIAL STATEMENTS AND MANAGEMENT’S DISCUSSION AND ANALYSIS (“MD&A”)
Sherritt’s condensed consolidated financial statements and MD&A for the three and six months ended June 30, 2026 are available at www.sherritt.com or on SEDAR+ at www.sedarplus.ca. and should be read in conjunction with this news release. Financial and operating data can also be viewed in the investor relations section of Sherritt’s website.
NON-GAAP AND OTHER FINANCIAL MEASURES
Management uses the following non-GAAP and other financial measures in this press release and other documents: combined revenue, adjusted earnings before interest, taxes, depreciation and amortization (“adjusted EBITDA”), average-realized price, unit operating cost/net direct cash cost (NDCC), adjusted net earnings/loss from continuing operations, adjusted net earnings/loss from continuing operations per share, spending on capital, combined cash provided (used) by continuing operations for operating activities and combined free cash flow.
Management uses these measures to monitor the financial performance of the Corporation and its operating divisions and believes these measures enable investors and analysts to compare the Corporation’s financial performance with its competitors and/or evaluate the results of its underlying business. These measures are intended to provide additional information, not to replace IFRS® Accounting Standards (“IFRS”) measures, and do not have a standard definition under IFRS and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. As these measures do not have a standardized meaning, they may not be comparable to similar measures provided by other companies.
The non-GAAP and other financial measures are reconciled to their most directly comparable IFRS measures in the Appendix below.
ABOUT SHERRITT
Sherritt is a world leader in using hydrometallurgical processes to mine and refine nickel and cobalt – metals deemed critical for the energy transition. Leveraging its technical expertise and decades of experience in critical minerals processing, Sherritt is committed to expanding domestic refining capacity and reducing reliance on foreign sources. The Corporation operates a strategically important refinery in Alberta, Canada, recognized as the only significant cobalt refinery and one of just three nickel refineries in North America.
Sherritt’s common shares are listed on the Toronto Stock Exchange under the symbol “S”.
FORWARD-LOOKING STATEMENTS
This press release contains certain forward-looking statements. Forward-looking statements can generally be identified by the use of statements that include such words as “believe”, “expect”, “anticipate”, “intend”, “plan”, “forecast”, “likely”, “may”, “will”, “could”, “should”, “suspect”, “outlook”, “potential”, “projected”, “continue” or other similar words or phrases. Specifically, forward-looking statements in this document include, but are not limited to the reduction or cessation of mining operations at Moa; the timing and ability to secure necessary fuel and other input commodities and supplies in Cuba following the issuance of the Executive Order; the anticipated duration of the shut down at the Fort Saskatchewan refinery; the potential impact of fuel and other input commodity supply disruption on production levels; measures to preserve and maximize liquidity, including managing expenditures and exploring potential sources of temporary funding support; the timing of updated 2026 guidance and the resumption of full operations of the mine at Moa and refinery at Fort Saskatchewan; sales volumes; revenue, costs and earnings; the amount and timing of dividend distributions from the Moa JV, including in the form of finished cobalt or cash under the Cobalt Swap; the amount and timing of dividend distributions from Energas; growing shareholder value; sufficiency of working capital management and capital project funding; strengthening the Corporation’s capital structure; amounts of certain other commitments; the auditor request for proposal process; the appointment of a new external auditor; statements regarding the Gillon Private Placement, including the completion and timing thereof, the terms on which it may be completed and the receipt of all required approvals; the ability of the parties to complete their respective due diligence reviews and negotiate a definitive agreement during the period of exclusivity; the ability of the parties to resolve the legal, regulatory and commercial complexities identified through due diligence; the ongoing engagement with relevant governmental and regulatory authorities and other stakeholders in furtherance of the regulatory approvals and other matters required to complete the Gillon Private Placement.
Forward-looking statements are not based on historical facts, but rather on current expectations, assumptions and projections about future events, including commodity and product prices and demand; the level of liquidity and access to funding; share price volatility; nickel, cobalt and fertilizer production results; realized prices for production; earnings and revenues; risks related to the U.S. government policy toward Cuba, including impacts of the Executive Order; current and future economic conditions in Cuba; the level of liquidity and access to funding; global demand for electric vehicles and the anticipated corresponding demand for cobalt and nickel; revenues and net operating results; environmental risks and liabilities; compliance with applicable environmental laws and regulations; advancements in environmental and greenhouse gas (“GHG”) reduction technology; GHG emissions reduction goals and the anticipated timing of achieving such goals, if at all; statistics and metrics relating to Environmental, Social and Governance (“ESG”) matters which are based on assumptions or developing standards; environmental rehabilitation provisions; environmental risks and liabilities; compliance with applicable environmental laws and regulations; Sherritt share price volatility; and certain corporate objectives, goals and plans for 2026. By their nature, forward-looking statements require the Corporation to make assumptions and are subject to inherent risks and uncertainties. There is significant risk that predictions, forecasts, conclusions or projections will not prove to be accurate, that the assumptions may not be correct and that actual results may differ materially from such predictions, forecasts, conclusions or projections.
The Corporation cautions readers of this press release not to place undue reliance on any forward-looking statement as a number of factors could cause actual future results, conditions, actions or events to differ materially from the targets, expectations, estimates or intentions expressed in the forward-looking statements. These risks, uncertainties and other factors include, but are not limited to, risks related to Sherritt’s operations in Cuba; risks related to the U.S. government policy toward Cuba, including the Executive Order, U.S. embargo on Cuba and the Helms-Burton legislation, including litigation under Title III thereof; level of liquidity of Sherritt, including access to capital and financing; commodity risks related to the production and sale of nickel cobalt and fertilizers; the impact of global conflicts; changes in the global price for nickel, cobalt, fertilizers or certain other commodities; security market fluctuations and price volatility; the ability of the Moa Joint Venture to pay dividends; the risk to Sherritt’s entitlements to future distributions (including pursuant to the Cobalt Swap) from the Moa Joint Venture; risk of future non-compliance with debt restrictions and covenants; political, economic and other risks of foreign operations; uncertainty in the ability of the Corporation to enforce legal rights in foreign jurisdictions; uncertainty regarding the interpretation and/or application of the applicable laws in foreign jurisdictions; risks related to environmental liabilities including liability for reclamation costs, tailings facility failures and toxic gas releases; compliance with applicable environment, health and safety legislation and other associated matters; risks associated with governmental regulations regarding climate change and greenhouse gas emissions; risks relating to community relations; maintaining social license to grow and operate; uncertainty about the pace of technological advancements required in relation to achieving ESG targets; risks to information technologies systems and cybersecurity; risks associated with the operation of large projects generally; risks related to the accuracy of capital and operating cost estimates; the possibility of equipment and other failure; potential interruptions in transportation; identification and management of growth opportunities; the ability to replace depleted mineral reserves; risks associated with the Corporation’s joint venture partners; variability in production at Sherritt’s operations in Cuba; risks associated with mining, processing and refining activities; uncertainty of gas supply for electrical generation; reliance on key personnel and skilled workers; growth opportunity risks; uncertainty of resources and reserve estimates; the potential for shortages of equipment and supplies, including diesel; supplies quality issues; risks related to the Corporation’s corporate structure; foreign exchange and pricing risks; credit risks; competition in product markets; future market access; interest rate changes; risks in obtaining insurance; uncertainties in labour relations; legal contingencies; risks related to the Corporation’s accounting policies; uncertainty in the ability of the Corporation to obtain government permits; failure to comply with, or changes to, applicable government regulations; bribery and corruption risks, including failure to comply with the Corruption of Foreign Public Officials Act or applicable local anti-corruption law; the ability to accomplish corporate objectives, goals and plans for 2026; and the ability to meet other factors listed from time to time in the Corporation’s continuous disclosure documents.
The Corporation, together with its Moa Joint Venture is pursuing a range of growth and expansion opportunities, including without limitation, process technology solutions, development projects, commercial implementation opportunities, life of mine extension opportunities and the conversion of mineral resources to reserves. In addition to the risks noted above, factors that could, alone or in combination, prevent the Corporation from successfully achieving these opportunities may include, without limitation: identifying suitable commercialization and other partners; successfully advancing discussions and successfully concluding applicable agreements with external parties and/or partners; successfully attracting required financing; successfully developing and proving technology required for the potential opportunity; successfully overcoming technical and technological challenges; successful environmental assessment and stakeholder engagement; successfully obtaining intellectual property protection; successfully completing test work and engineering studies, prefeasibility and feasibility studies, piloting, scaling from small scale to large scale production, procurement, construction, commissioning, ramp-up to commercial scale production and completion; and securing regulatory and government approvals. There can be no assurance that any opportunity will be successful, commercially viable, completed on time or on budget, or will generate any meaningful revenues, savings or earnings, as the case may be, for the Corporation. In addition, the Corporation will incur costs in pursuing any particular opportunity, which may be significant.
Additional risks, uncertainties and other factors include, but are not limited to, the ability of the Corporation to achieve its financial goals; the ability of the Corporation to continue to realize its assets and discharge its liabilities and commitments; the Corporation’s future liquidity position, and access to capital, to fund ongoing operations and obligations (including debt obligations); the ability of the Corporation to stabilize its business and financial condition; the ability of the Corporation to implement and successfully achieve its business priorities; and the ability of the Corporation to comply with its contractual obligations, including without limitation, its obligations under debt arrangements. Readers are cautioned that the foregoing list of factors is not exhaustive and should be considered in conjunction with the risk factors described in the Corporation’s other documents filed with the Canadian securities authorities, including without limitation the “Managing Risk” section of the Management’s Discussion and Analysis for the three months and year ended December 31, 2025 and the Annual Information Form of the Corporation dated March 23, 2026 for the period ending December 31, 2025, which is available on SEDAR+ at www.sedarplus.ca.
The Corporation may, from time to time, make oral forward-looking statements. The Corporation advises that the above paragraph and the risk factors described in the MD&A and in the Corporation’s other documents filed with the Canadian securities authorities should be read for a description of certain factors that could cause the actual results of the Corporation to differ materially from those in the oral forward-looking statements. The forward-looking information and statements contained in this press release are made as of the date hereof and the Corporation undertakes no obligation to update publicly or revise any oral or written forward-looking information or statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The forward-looking information and statements contained herein are expressly qualified in their entirety by this cautionary statement.
APPENDIX – NON-GAAP AND OTHER FINANCIAL MEASURES
Management uses the measures below to monitor the financial performance of the Corporation and its operating divisions and believes these measures enable investors and analysts to compare the Corporation’s financial performance with its competitors and/or evaluate the results of its underlying business. These measures are intended to provide additional information, not to replace IFRS Accounting Standards measures, and do not have a standard definition under IFRS Accounting Standards and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS Accounting Standards. As these measures do not have a standardized meaning, they may not be comparable to similar measures provided by other companies.
The non-GAAP and other financial measures are reconciled in the sections below to the most directly comparable IFRS Accounting Standards in the sections below.
Combined revenue
The Corporation uses combined revenue as a measure to help management assess the Corporation’s financial performance across its core operations. Combined revenue includes the Corporation’s consolidated revenue, less Oil and Gas revenue, and includes the revenue of the Moa JV within the Metals reportable segment on a 50% basis. Revenue of the Moa JV is included in share of earnings/loss of Moa Joint Venture, net of tax, as a result of the equity method of accounting and excluded from the Corporation’s consolidated revenue.
Revenue at Oil and Gas is excluded from Combined revenue as the segment is not currently exploring for or producing oil and gas and its revenue relate to ancillary drilling services, provided to a customer and agencies of the Government of Cuba, which is not reflective of the Corporation’s core operating activities or revenue generation potential.
Management uses this measure to reflect the Corporation’s economic interest in its operations prior to the application of equity accounting to help allocate financial resources and provide investors with information that it believes is useful in understanding the scope of Sherritt’s business, based on its economic interest, irrespective of the accounting treatment.
The table below reconciles combined revenue to revenue per the financial statements:
For the three months ended
For the six months ended
2026
2025
2026
2025
$ millions
June 30
June 30
Change
June 30
June 30
Change
Revenue by reportable segment
Metals(1)
$
117.5
$
124.7
(6
%)
$
211.3
$
238.4
(11
%)
Power
14.5
10.6
37
%
27.1
22.0
23
%
Corporate and Other
0.1
0.3
(67
%)
0.3
0.9
(67
%)
Combined revenue
$
132.1
$
135.6
(3
%)
$
238.7
$
261.3
(9
%)
Adjustment for Moa Joint Venture
(73.0
)
(93.5
)
(145.9
)
(183.1
)
Adjustment for Oil and Gas
0.2
1.6
(88
%)
0.5
3.9
(87
%)
Financial statement revenue
$
59.3
$
43.7
36
%
$
93.3
$
82.1
14
%
Adjusted EBITDA
The Corporation defines Adjusted EBITDA as earnings/loss from operations and joint venture, which excludes net finance expense, income tax expense and loss from discontinued operations, net of tax, as reported in the financial statements for the period, adjusted for: depletion, depreciation and amortization; impairment losses and reversals on non-current non-financial assets and investments; and gains or losses on disposal of property, plant and equipment of the Corporation and the Moa JV. The exclusion of impairment losses and reversals eliminates the non-cash impact of the losses and reversals.
Earnings/loss from operations at Oil and Gas (net of depletion, depreciation and amortization and impairment, if applicable) is deducted from/added back to Adjusted EBITDA as the segment is not currently exploring for or producing oil and gas and its financial results relate to ancillary drilling services, provided to a customer and agencies of the Government of Cuba, and environmental rehabilitation costs for legacy assets, which are not reflective of the Corporation’s core operating activities or cash generation potential.
Management uses Adjusted EBITDA internally to evaluate the cash generation potential of Sherritt’s operating divisions on a combined and segment basis as an indicator of ability to fund working capital needs, meet covenant obligations, service debt and fund capital expenditures, as well as provide a level of comparability to similar entities. Management believes that Adjusted EBITDA provides useful information to investors in evaluating the Corporation’s operating results in the same manner as management and the Board of Directors.
The tables below reconcile loss from operations and joint venture per the financial statements to Adjusted EBITDA:
$ millions, for the three months ended June 30
2026
Metals(1)
Power
Oil and
Gas
Corporate
and
Other
Adjustment
for Moa
Joint
Venture
Total
(Loss) earnings from operations and joint venture per financial statements
$
(14.9
)
$
9.8
$
(38.6
)
$
(12.8
)
$
3.8
$
(52.7
)
Add (deduct):
Depletion, depreciation and amortization
3.0
0.6
0.1
0.1
-
3.8
Oil and Gas earnings from operations, net of depletion, depreciation and amortization
-
-
38.5
-
-
38.5
Adjustments for share of loss of Moa Joint Venture:
Depletion, depreciation and amortization
12.2
-
-
-
-
12.2
Net finance income, net of elimination
-
-
-
-
(0.3
)
(0.3
)
Income tax recovery
-
-
-
-
(3.5
)
(3.5
)
Adjusted EBITDA
$
0.3
$
10.4
$
-
$
(12.7
)
$
-
$
(2.0
)
$ millions, for the three months ended June 30
2025
Metals(1)
Power
Oil and
Gas
Corporate
and
Other
Adjustment
for Moa
Joint
Venture
Total
(Loss) earnings from operations and joint venture per financial statements
$
(7.4
)
$
4.3
$
(0.3
)
$
(10.3
)
$
(5.7
)
$
(19.4
)
Add (deduct):
Depletion, depreciation and amortization
2.7
0.7
-
0.1
-
3.5
Oil and Gas earnings from operations, net of depletion, depreciation and amortization
-
-
0.3
-
-
0.3
Adjustments for share of loss of Moa Joint Venture:
Depletion, depreciation and amortization
12.5
-
-
-
-
12.5
Net finance expense, net of elimination
-
-
-
-
4.6
4.6
Income tax expense
-
-
-
-
1.1
1.1
Adjusted EBITDA
$
7.8
$
5.0
$
-
$
(10.2
)
$
-
$
2.6
$ millions, for the six months ended June 30
2026
Metals(2)
Power
Oil and
Gas
Corporate
and
Other
Adjustment
for Moa
Joint
Venture
Total
(Loss) earnings from operations and joint venture per financial statements
$
(24.1
)
$
17.2
$
(45.5
)
$
(19.0
)
$
6.6
$
(64.8
)
Add (deduct):
Depletion, depreciation and amortization
5.3
1.2
0.1
0.2
-
6.8
Oil and Gas loss from operations, net of depletion, depreciation and amortization
-
-
45.4
-
-
45.4
Adjustments for share of loss of Moa Joint Venture:
Depletion, depreciation and amortization
24.8
-
-
-
-
24.8
Net finance income, net of elimination
-
-
-
-
(0.7
)
(0.7
)
Income tax recovery
-
-
-
-
(5.9
)
(5.9
)
Adjusted EBITDA
$
6.0
$
18.4
$
-
$
(18.8
)
$
-
$
5.6
$ millions, for the six months ended June 30
2025
Metals(2)
Power
Oil and
Gas
Corporate
and
Other
Adjustment
for Moa
Joint
Venture
Total
(Loss) earnings from operations and joint venture per financial statements
$
(16.0
)
$
7.0
$
(19.0
)
$
(15.1
)
$
(8.1
)
$
(51.2
)
Add (deduct):
Depletion, depreciation and amortization
5.0
1.4
-
0.4
-
6.8
Oil and Gas loss from operations, net of depletion, depreciation and amortization
-
-
19.0
-
-
19.0
Adjustments for share of loss of Moa Joint Venture:
Depletion, depreciation and amortization
24.3
-
-
-
-
24.3
Net finance expense, net of elimination
-
-
-
-
6.2
6.2
Income tax expense
-
-
-
-
1.9
1.9
Adjusted EBITDA
$
13.3
$
8.4
$
-
$
(14.7
)
$
-
$
7.0
Average-realized price
Average-realized price is generally calculated by dividing revenue by sales volume for the given product in a given segment. The average-realized price for power excludes frequency control, by-product and other revenue, as this revenue is not earned directly for power generation. Refer to the Power Review of operations section for further details on frequency control revenue, which Energas receives in compensation for lost sales of electricity as a result of frequency control.
Management uses this measure, and believes investors use this measure, to compare the relationship between the revenue per unit and direct costs on a per unit basis in each reporting period for nickel, cobalt, fertilizer and power and provide comparability with other similar external operations.
Average-realized price for fertilizer is the weighted-average realized price of ammonia and various ammonium sulphate products.
Average-realized price for nickel and cobalt are expressed in Canadian dollars per pound sold, while fertilizer is expressed in Canadian dollars per tonne sold and electricity is expressed in Canadian dollars per megawatt hour sold.
The tables below reconcile revenue per the financial statements to average-realized price:
$ millions, except average-realized price and sales volume, for the three months ended June 30
2026
Metals
Nickel
Cobalt
Fertilizer
Power
Other(1)
Adjustment
for Moa Joint
Venture
Total
Revenue per financial statements
$
42.8
$
12.8
$
36.8
$
14.5
$
25.4
$
(73.0
)
$
59.3
Adjustments to revenue:
Frequency control, by-product and other revenue
-
-
-
(3.7
)
Revenue for purposes of average-realized price calculation
42.8
12.8
36.8
10.8
Sales volume for the period
3.8
0.4
52.3
207
Volume units
Millions of
pounds
Millions of
pounds
Thousands
of tonnes
Gigawatt
hours
Average-realized price(2)(3)(4)
$
11.27
$
34.51
$
701.78
$
52.58
$ millions, except average-realized price and sales volume, for the three months ended June 30
2025
Metals
Nickel
Cobalt
Fertilizer
Power
Other(1)
Adjustment
for Moa Joint
Venture
Total
Revenue per financial statements
$
68.6
$
15.2
$
30.0
$
10.6
$
12.8
$
(93.5
)
$
43.7
Adjustments to revenue:
Frequency control, by-product and other revenue
-
-
-
(1.4
)
Revenue for purposes of average-realized price calculation
68.6
15.2
30.0
9.2
Sales volume for the period
7.2
0.8
44.6
176
Volume units
Millions of
pounds
Millions of
pounds
Thousands
of tonnes
Gigawatt
hours
Average-realized price(2)(3)(4)
$
9.57
$
18.19
$
674.44
$
52.56
$ millions, except average-realized price and sales volume, for the six months ended June 30
2026
Metals
Nickel
Cobalt
Fertilizer
Power
Other(1)
Adjustment
for Moa Joint
Venture
Total
Revenue per financial statements
$
95.6
$
27.4
$
50.3
$
27.1
$
38.8
$
(145.9
)
$
93.3
Adjustments to revenue:
Frequency control, by-product and other revenue
-
-
-
(5.3
)
Revenue for purposes of average-realized price calculation
95.6
27.4
50.3
21.8
Sales volume for the period
8.7
0.8
79.7
416
Volume units
Millions of
pounds
Millions of
pounds
Thousands
of tonnes
Gigawatt
hours
Average-realized price(2)(3)(4)
$
10.93
$
33.54
$
630.62
$
52.35
$ millions, except average-realized price and sales volume, for the six months ended June 30
2025
Metals
Nickel
Cobalt
Fertilizer
Power
Other(1)
Adjustment
for Moa Joint
Venture
Total
Revenue per financial statements
$
144.3
$
28.6
$
45.9
$
22.0
$
24.4
$
(183.1
)
$
82.1
Adjustments to revenue:
Frequency control, by-product and other revenue
-
-
-
(3.5
)
Revenue for purposes of average-realized price calculation
144.3
28.6
45.9
18.5
Sales volume for the period
14.8
2.0
77.7
346
Volume units
Millions of
pounds
Millions of
pounds
Thousands
of tonnes
Gigawatt
hours
Average-realized price(2)(3)(4)
$
9.78
$
15.51
$
591.10
$
53.53
Unit operating cost/Net direct cash cost
With the exception of Metals, which uses NDCC, unit operating cost is generally calculated by dividing cost of sales as reported in the financial statements, less depreciation, depletion and amortization in cost of sales, the impact of impairment losses and reversals, gains and losses on disposal of property, plant, and equipment and exploration and evaluation assets and certain other non-production related costs, by the number of units sold.
Metals’ NDCC is calculated by dividing cost of sales, as reported in the financial statements, adjusted for the following: depreciation, depletion, amortization and impairment losses and reversals in cost of sales; cobalt by-product, fertilizer by-product and other revenue; cobalt gain/loss pursuant to the Cobalt Swap; realized gain/loss on natural gas swaps; royalties/territorial contributions; and other costs primarily related to the impact of opening and closing inventory values, by the number of finished nickel pounds sold in the period.
Unit operating costs for nickel and electricity are key measures that management and investors uses to monitor cost performance. NDCC of nickel is a widely-used performance measure for nickel producers which represents the direct cash cost associated with the mining, processing, refining and sale of finished nickel, net of by-product credits. Management uses unit operating cost/NDCC to assess how well the Corporation’s producing mine and power facilities are performing and to assess overall production efficiency and effectiveness internally across periods and compared to its competitors.
Unit operating cost (NDCC) for nickel is expressed in U.S. dollars per pound sold, while unit operating cost for electricity is expressed in Canadian dollars per megawatt hour sold.
The tables below reconcile cost of sales per the financial statements to unit operating cost/NDCC:
$ millions, except unit cost and sales volume, for the three months ended June 30
2026
Metals
Power
Other(1)
Adjustment
for Moa
Joint Venture
Total
Cost of sales per financial statements
$
130.8
$
3.2
$
39.1
$
(93.5
)
$
79.6
Less:
Depletion, depreciation and amortization in cost of sales
(15.2
)
(0.6
)
115.6
2.6
Adjustments to cost of sales:
Cobalt by-product revenue - Moa JV and Cobalt Swap
(12.8
)
-
Fertilizer by-product revenue
(36.8
)
-
Other revenue
(25.1
)
-
Royalties/territorial contributions and other non-cash costs(2)
(3.3
)
-
Changes in inventories and other adjustments(3)
0.9
-
Cost of sales for purposes of unit cost calculation
38.5
2.6
Sales volume for the period
3.8
207
Volume units
Millions of
pounds
Gigawatt
hours
Unit operating cost(4)(5)
$
10.15
$
13.36
Unit operating cost (US$ per pound) (NDCC)(6)
$
7.31
$ millions, except unit cost and sales volume, for the three months ended June 30
2025
Metals
Power
Other(1)
Adjustment
for Moa
Joint Venture
Total
Cost of sales per financial statements
$
130.1
$
5.0
$
2.4
$
(105.1
)
$
32.4
Less:
Depletion, depreciation and amortization in cost of sales
(15.2
)
(0.6
)
114.9
4.4
Adjustments to cost of sales:
Cobalt by-product revenue - Moa JV and Cobalt Swap
(15.2
)
-
Fertilizer by-product revenue
(30.0
)
-
Other revenue
(10.9
)
-
Realized gain on natural gas swaps
(0.3
)
-
Royalties/territorial contributions and other non-cash costs(2)
(5.1
)
-
Changes in inventories and other adjustments(3)
(0.7
)
-
Cost of sales for purposes of unit cost calculation
52.7
4.4
Sales volume for the period
7.2
176
Volume units
Millions of
pounds
Gigawatt
hours
Unit operating cost(4)(5)
$
7.34
$
24.80
Unit operating cost (US$ per pound) (NDCC)(6)
$
5.27
$ millions, except unit cost and sales volume, for the six months ended June 30
2026
Metals
Power
Other(1)
Adjustment
for Moa
Joint Venture
Total
Cost of sales per financial statements
$
232.5
$
7.2
$
46.0
$
(174.1
)
$
111.6
Less:
Depletion, depreciation and amortization in cost of sales
(30.1
)
(1.0
)
202.4
6.2
Adjustments to cost of sales:
Cobalt by-product revenue - Moa JV and Cobalt Swap
(27.4
)
-
Fertilizer by-product revenue
(50.3
)
-
Other revenue
(38.0
)
-
Realized loss on natural gas swaps
0.6
-
Royalties/territorial contributions and other non-cash costs(2)
(7.3
)
-
Changes in inventories and other adjustments(3)
5.5
-
Cost of sales for purposes of unit cost calculation
85.5
6.2
Sales volume for the period
8.7
416
Volume units
Millions of
pounds
Gigawatt
hours
Unit operating cost(4)(5)
$
9.78
$
15.09
Unit operating cost (US$ per pound) (NDCC)(6)
$
7.13
$ millions, except unit cost and sales volume, for the six months ended June 30
2025
Metals
Power
Other(1)
Adjustment
for Moa
Joint Venture
Total
Cost of sales per financial statements
$
249.2
$
11.9
$
23.9
$
(201.9
)
$
83.1
Less:
Depletion, depreciation and amortization in cost of sales
(29.3
)
(1.2
)
219.9
10.7
Adjustments to cost of sales:
Cobalt by-product revenue - Moa JV and Cobalt Swap
(28.6
)
-
Fertilizer by-product revenue
(45.9
)
-
Other revenue
(19.6
)
-
Cobalt loss
0.3
-
Realized gain on natural gas swaps
(0.4
)
-
Royalties/territorial contributions and other non-cash costs(2)
(9.2
)
-
Changes in inventories and other adjustments(3)
1.2
-
Cost of sales for purposes of unit cost calculation
117.7
10.7
Sales volume for the period
14.8
346
Volume units
Millions of
pounds
Gigawatt
hours
Unit operating cost(4)(5)
$
7.97
$
31.03
Unit operating cost (US$ per pound) (NDCC)(6)
$
5.64
(1)
Other cost of sales is composed of the cost of sales of Oil and Gas, a non-core reportable segment, and cost of sales of the Corporate and Other reportable segment. (2)
Royalties and territorial contributions are included in cost of sales but are excluded from NDCC as these costs are not direct mine cash costs. Other non-cash costs consist of inventory write-downs and other costs that are included in cost of sales but are excluded from NDCC as the costs are non-cash. (3)
Changes in inventories and other adjustments is primarily composed of changes in inventories, the effect of average exchange rate changes and other items. These amounts are excluded from cost of sales but included in NDCC. (4)
Unit operating cost/NDCC may not calculate exactly based on amounts presented due to foreign exchange and rounding. (5)
Power, unit operating cost price per MWh. (6)
Unit operating costs in US$ are converted at the average exchange rate for the period. Adjusted net earnings/loss from continuing operations and adjusted net earnings/loss from continuing operations per share
The Corporation defines adjusted net earnings/loss from continuing operations as net earnings/loss from continuing operations adjusted for items not reflective of the Corporation’s current or future operational performance and after the impact of income taxes. These adjusting items include, but are not limited to, inventory write-downs/obsolescence, impairment of assets, gains and losses on the acquisition or disposal of assets, unrealized foreign exchange gains and losses, gains and losses on financial assets and liabilities and other one-time adjustments that have not occurred in the past two years and are not expected to recur in the next two years. While some adjustments are recurring (such as unrealized foreign exchange (gain) loss), management believes that they do not reflect the Corporation’s current or future operational performance.
Net earnings/loss from continuing operations at Oil and Gas is deducted from/added back to adjusted earnings/loss from continuing operations as the segment is not currently exploring for or producing oil and gas and its financial results relate to ancillary drilling services, provided to a customer and agencies of the Government of Cuba, and environmental rehabilitation costs for legacy assets, which are not reflective of the Corporation’s core operating activities or future operational performance.
Adjusted net earnings/loss from continuing operations per share is defined consistent with the definition above and divided by the Corporation’s weighted-average number of common shares outstanding.
Management uses these measures internally and believes that they provide investors with performance measures with which to assess the Corporation’s current or future operational performance by adjusting for items or transactions that are not reflective of its current or future operational performance.
The tables below reconcile net earnings/loss from continuing operations and net earnings/loss from continuing operations per share, both per the financial statements, to adjusted net loss from continuing operations and adjusted net loss from continuing operations per share, respectively:
2026
2025
For the three months ended June 30
$ millions
$/share
$ millions
$/share
Net (loss) earnings from continuing operations
$
(71.1
)
$
(0.10
)
$
10.4
$
0.02
Adjusting items:
Sherritt - Unrealized foreign exchange loss (gain) - continuing operations
0.5
-
(1.0
)
-
Corporate and Other - Gain on Debt and Equity transactions, net of transaction costs
-
-
(32.4
)
(0.07
)
Reclassification of transaction costs on Debt and Equity Transactions to
Gain on Debt and Equity Transactions, net of transaction costs
(4.9
)
(0.01
)
Corporate and Other - Realized loss on nickel put options
1.2
-
-
-
Corporate and Other - Unrealized gain on nickel put options
Metals - Fort Site - Unrealized loss on natural gas swaps
0.6
-
1.8
-
Metals - Fort Site - Realized gain on natural gas swaps
(0.6
)
-
(0.4
)
-
Power - Gain on revaluation of GNC receivable
(9.9
)
(0.01
)
(8.2
)
(0.02
)
Power - Loss on revaluation of Energas payable
4.1
0.01
2.8
0.01
Oil and Gas - Net loss from continuing operations, net of unrealized foreign exchange gain/loss
45.8
0.08
19.4
0.04
Total adjustments, before tax
$
43.4
$
0.08
$
(17.1
)
$
(0.04
)
Tax adjustments
0.2
-
(0.5
)
-
Adjusted net loss from continuing operations
$
(36.7
)
$
(0.06
)
$
(47.8
)
$
(0.11
)
Spending on capital
The Corporation defines spending on capital for each segment as property, plant and equipment and intangible asset expenditures on a cash basis adjusted to the accrual basis in order to account for assets that are available for use by the Corporation and the Moa Joint Venture prior to payment and includes adjustments to accruals. The Metals segment’s spending on capital includes the Fort Site’s expenditures, plus the Corporation’s 50% share of the Moa Joint Venture’s expenditures, which is accounted for using the equity method for accounting purposes.
Combined spending on capital is the aggregate of each segment’s spending on capital or the Corporation’s consolidated property, plant and equipment and intangible asset expenditures and the property, plant and equipment and intangible asset expenditures of the Moa Joint Venture on a 50% basis, all adjusted to the accrual basis.
Combined spending on capital is used by management, and management believes this information is used by investors, to analyze the Corporation and the Moa Joint Venture’s investments in non-current assets that are held for use in the production of nickel, cobalt, fertilizers, oil and gas and power generation.
The tables below reconcile property, plant and equipment and intangible asset expenditures per the financial statements to combined spending on capital, expressed in Canadian dollars:
$ millions, for the three months ended June 30
2026
Metals
Power
Other(1)
Combined
total
Adjustment
for Moa
Joint Venture
Total
derived from
financial
statements
Property, plant and equipment expenditures(2)
$
1.8
$
0.1
$
-
$
1.9
$
(1.8
)
$
0.1
1.8
0.1
-
1.9
$
(1.8
)
$
0.1
Adjustments:
Accrual adjustment
-
-
-
-
Spending on capital
$
1.8
$
0.1
$
-
$
1.9
$ millions, for the three months ended June 30
2025
Metals
Power
Other(1)
Combined
total
Adjustment
for Moa
Joint Venture
Total
derived from
financial
statements
Property, plant and equipment expenditures(2)
$
13.6
$
0.8
$
-
$
14.4
$
(10.0
)
$
4.4
13.6
0.8
-
14.4
$
(10.0
)
$
4.4
Adjustments:
Accrual adjustment
1.3
-
-
1.3
Spending on capital
$
14.9
$
0.8
$
-
$
15.7
$ millions, for the six months ended June 30
2026
Metals
Power
Other(1)
Combined
total
Adjustment
for Moa
Joint Venture
Total
derived from
financial
statements
Property, plant and equipment expenditures(2)
$
7.2
$
0.3
$
-
$
7.5
$
(7.2
)
$
0.3
7.2
0.3
-
7.5
$
(7.2
)
$
0.3
Adjustments:
Accrual adjustment
-
-
-
-
Spending on capital
$
7.2
$
0.3
$
-
$
7.5
$ millions, for the six months ended June 30
2025
Metals
Power
Other(1)
Combined
total
Adjustment
for Moa
Joint Venture
Total
derived from
financial
statements
Property, plant and equipment expenditures(2)
$
24.1
$
0.9
$
0.1
$
25.1
$
(17.6
)
$
7.5
24.1
0.9
0.1
25.1
$
(17.6
)
$
7.5
Adjustments:
Accrual adjustment
6.1
-
-
6.1
Spending on capital
$
30.2
$
0.9
$
0.1
$
31.2
Combined cash provided (used) by continuing operations for operating activities and combined free cash flow
The Corporation defines cash provided/used by continuing operations for operating activities by segment as cash provided/used by continuing operations for operating activities for each segment calculated in accordance with IFRS Accounting Standards and adjusted to remove the impact of cash provided/used by wholly-owned subsidiaries. Combined cash provided/used by continuing operations for operating activities is the aggregate of each segment’s cash provided/used by continuing operations for operating activities including the Corporation’s 50% share of the Moa JV’s cash provided/used by continuing operations for operating activities, which is accounted for using the equity method of accounting and excluded from consolidated cash provided/used by continuing operations for operating activities.
The Corporation defines free cash flow for each segment as cash provided/used by continuing operations for operating activities by segment, less cash expenditures on property, plant and equipment and intangible assets, including exploration and evaluation assets. Combined free cash flow is the aggregate of each segment’s free cash flow or the Corporation’s consolidated cash provided/used by continuing operations for operating activities, less consolidated cash expenditures on property, plant and equipment and intangible assets, including exploration and evaluation assets, less distributions received from Moa JV, plus cash provided/used by continuing operations for operating activities for the Corporation’s 50% share of the Moa JV, less cash expenditures on property, plant and equipment and intangible assets for the Corporation’s 50% share of the Moa JV.
The Corporate and Other segment’s cash used by continuing operations for operating activities is adjusted to exclude distributions received from Moa JV. Distributions from the Moa JV excluded from Corporate and Other are included in the Adjustment for Moa Joint Venture to arrive at total cash provided/used by continuing operations for operating activities per the financial statements.
The Metals segment’s free cash flow includes the Fort Site and Metals Marketing’s free cash flow, plus the Corporation’s 50% share of the Moa JV’s free cash flow, which is accounted for using the equity method for accounting purposes.
Combined cash provided/used by continuing operations for operating activities and combined free cash flow are used by management, and management believes this information is used by investors, to analyze cash flows generated from operations and assess its operations’ ability to provide cash or its use of cash, and in the case of combined free cash flow, after funding cash capital requirements, to service current and future working capital needs and service debt.
The tables below reconcile combined cash provided by continuing operations for operating activities to cash used by continuing operations per the financial statements to combined free cash flow:
$ millions, for the three months ended June 30
2026
Metals(1)(2)
Power
Oil and
Gas
Corporate
and
Other
Combined
total
Adjustment
for Moa
Joint
Venture
Total
derived
from
financial
statements
Cash provided (used) by continuing operations for operating activities
$
(26.2
)
$
22.8
$
(1.9
)
$
42.2
$
36.9
$
2.0
$
38.9
Less:
Property, plant and equipment expenditures
(1.8
)
(0.1
)
-
-
(1.9
)
1.8
(0.1
)
Free cash flow
$
(28.0
)
$
22.7
$
(1.9
)
$
42.2
$
35.0
$
3.8
$
38.8
$ millions, for the three months ended June 30
2025
Metals(1)(2)
Power
Oil and
Gas
Corporate
and
Other
Combined
total
Adjustment
for Moa
Joint
Venture
Total
derived
from
financial
statements
Cash provided (used) by continuing operations for operating activities
$
20.0
$
16.0
$
(1.1
)
$
(17.7
)
$
17.2
$
(11.6
)
$
5.6
Less:
Property, plant and equipment expenditures
(13.6
)
(0.8
)
-
-
(14.4
)
10.0
(4.4
)
Free cash flow
$
6.4
$
15.2
$
(1.1
)
$
(17.7
)
$
2.8
$
(1.6
)
$
1.2
$ millions, for the six months ended June 30
2026
Metals(3)(4)
Power
Oil and
Gas
Corporate
and
Other
Combined
total
Adjustment
for Moa
Joint
Venture
Total
derived
from
financial
statements
Cash (used) provided by continuing operations for operating activities
$
(27.9
)
$
35.7
$
(3.1
)
$
33.1
$
37.8
$
(12.0
)
$
25.8
Less:
Property, plant and equipment expenditures
(7.2
)
(0.3
)
-
-
(7.5
)
7.2
(0.3
)
Free cash flow
$
(35.1
)
$
35.4
$
(3.1
)
$
33.1
$
30.3
$
(4.8
)
$
25.5
$ millions, for the six months ended June 30
2025
Metals(3)(4)
Power
Oil and
Gas
Corporate
and
Other
Combined
total
Adjustment
for Moa
Joint
Venture
Total
derived
from
financial
statements
Cash provided (used) by continuing operations for operating activities
Kontoor Brands oznámil za 2. čtvrtletí tržby ve výši 584 milionů USD, meziročně o 19 % více, a upravený zisk 1,06 USD na akcii. Představenstvo zároveň zrychlilo program zpětného odkupu akcií.
Shares of Kontoor Brands (KTB +8.86%) jumped 12.8% higher shortly after Wednesday's opening bell. The company behind Wrangler and Helly Hansen clothing reported solid Q2 2026 results this morning, and the board of directors accelerated its stock buyback program. The stock cooled down a bit but was still up 9.2% at 2:50 p.m. ET.
Image source: Getty Images.
Wrangler rides again Kontoor's Q2 revenue rose 19% year over year to $584 million. The Wrangler brand saw 3% sales growth and represented 76% of the company's total sales. Helly Hansen accounted for another 23% of the top line, proving the value of the mid-2025 brand acquisition. Adjusted earnings rose 13% to $1.06 per diluted share. The Helly Hansen segment posted negative operating profits but "significantly exceeded" management's efficiency projections. In other words, the integration is going more smoothly than expected.
The company is divesting the Lee brand, but those operations are already immaterial to Kontoor's financials. Privately held brand management firm Authentic Brands is buying Lee for $750 million to $1 billion, depending on Lee's performance after the transaction.
Management raised the midpoint of full-year earnings guidance from $5.20 to $5.30 per share (adjusted). Both Wrangler and Helly Hansen should see mid-single-digit sales growth in the second half, accelerating from a slower spring.
Moreover, Kontoor plans to use $400 million of the Lee deal to buy back and retire common stock. That's a significant repurchase commitment for a stock with a current market cap of $4.5 billion.
Today's Change
(
8.86
%) $
6.64
Current Price
$
81.60
A good fit at this price? Kontoor is streamlining its closet, keeping the Wrangler jeans and Helly Hansen ski jackets while offloading the Lee khakis to Authentic Brands. A $400 million stock buyback says management thinks the shares are a bargain at today's prices. At 15.5x the updated earnings guidance, bulls would argue they're right.
Investors should watch how Helly Hansen progresses toward profitability and whether the Lee divestiture closes on schedule in Q4. Meanwhile, Kontoor is a mid-priced consumer goods stock with solid growth prospects and an above-average dividend yield.
Anders Bylund has no position in any of the stocks mentioned. The Motley Fool recommends Kontoor Brands. The Motley Fool has a disclosure policy.
Resources Investor Relations Journalists Agencies Client Login Send a Release News Products Contact , /PRNewswire/ -- Quest Diagnostics (NYSE: DGX), a leader in diagnostic information services, today announced that its Board of Directors declared a quarterly cash dividend of $0.86 per share, payable on October 21, 2026 to shareholders of record of Quest Diagnostics common stock on October 6, 2026.
About Quest Diagnostics
Quest Diagnostics works across healthcare to create a healthier world, one life at a time. We connect people, from clinicians to consumers, with laboratory insights that illuminate a path to better health. With a focus on delivering smarter, simpler testing, we help reveal new avenues to identify and treat disease, empower healthy behaviors and improve healthcare management. Quest Diagnostics serves half the physicians and hospitals in the United States and one in three American adults each year, and our nearly 60,000 employees work together to deliver diagnostic insights that inspire actions to transform lives. www.QuestDiagnostics.com
Key Takeaways SKYW shares advanced 11% in a month as higher production and aircraft commitments supported momentum. SKYW expects 2026 block-hour production to rise about 5% as fleet utilization & partner demand improve. SKYW faces rising costs and maintenance constraints as it expands capacity and adds E175 aircraft. SkyWest, Inc. (SKYW - Free Report) shares have advanced 11% in the past month, extending a volatile run for the regional airline operator. The move has been backed by higher production and expanding aircraft commitments, but earnings pressure remains visible.
The question is whether operating momentum can keep pace with higher costs and fleet-execution demands as SkyWest adds capacity.
SkyWest's 11% Rally Has Earnings SupportSecond-quarter 2026 flying-agreement revenues increased 7.8% year over year to $1.06 billion. Total block hours rose 5.4% to 396,696 as higher fleet utilization and partner demand lifted production.
The quarter did not clear every earnings hurdle. Earnings of $2.54 per share missed the Zacks Consensus Estimate of $2.70, while revenues of $1.10 billion also fell short of the consensus mark. Even so, the shares gained 7.7% from the July 23 earnings release through Aug. 11.
SKYW's Contract Revenue Keeps ExpandingSkyWest ended June with $214 million of cumulative deferred revenue to be recognized in future periods. That balance reflects fixed cash payments received under capacity purchase agreements ahead of the related revenue recognition.
Management expects full-year 2026 block-hour production to increase about 5% from 2025. The outlook rests on continued demand from major airline partners, stronger prorate activity and improving utilization across the fleet.
SkyWest's Fleet Renewal Adds Growth CapacitySkyWest secured a multiyear agreement to purchase and operate 11 new E175 aircraft for American Airlines Group Inc. (AAL - Free Report) , with four deliveries scheduled for 2026 and seven for 2027. American uses third-party regional carriers, including SkyWest, to support its American Eagle network.
United Airlines Holdings, Inc. (UAL - Free Report) is another key partner and uses regional carriers, including SkyWest, for United Express service. SkyWest expects seven additional E175 deliveries for United in the second half of 2026 and plans to operate 300 E175s by the end of 2027.
SKYW Still Faces Cost and Maintenance PressureSecond-quarter operating expenses increased 9% year over year to $947 million, outpacing the 7% rise in revenues. Salaries, wages and benefits increased 9.4%, while aircraft fuel expense more than doubled as higher prices and added prorated production raised costs.
Execution risk remains tied to maintenance. SkyWest continues to face labor and parts shortages across its third-party maintenance, repair and overhaul network. Those constraints can slow the return of aircraft from heavy maintenance and reduce flexibility as production expands.
SkyWest's Signals Favor Balance Over ChasingThe operating setup supports continued production growth, but the stock's recent advance does not remove the earnings and execution risks. Higher costs, fuel sensitivity and maintenance constraints leave less room for operational setbacks as the fleet program expands.
SKYW currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. It has a solid Style score with a Value Score of A, Growth Score of C, Momentum Score of B and VGM Score of A. The favorable value and momentum characteristics are constructive, while the Growth Score is less supportive. With a Zacks Rank #3, the signals favor a measured stance rather than chasing the recent rally.
Nu Holdings zveřejní zítra výsledky za 2. čtvrtletí a trh bude sledovat růst zákazníků, kvalitu úvěrů a ARPAC. V 1. čtvrtletí vzrostl čistý zisk meziročně o 56 %.
Brazil-based digital banking platform Nu Holdings (NU -0.66%) reports its second-quarter earnings tomorrow after the market closes. While investors will closely watch for revenue and earnings beats, a few catalysts could truly send the stock soaring.
Serving Latin America, across Brazil, Mexico, and Colombia, the company has over 135 million customers with no signs of a slowdown in growth. Nu added 17 million customers in 2025 and has continued in a similar vein this year, gaining another four million customers in the first quarter.
Yet these numbers don’t necessarily impress markets. It’s the catalysts behind these growth numbers that hold the clue to how the stock will respond.
Here are three major catalysts that could send the stock soaring on Friday and beyond.
Image source: The Motley Fool.
1. Mexico en route to becoming the next BrazilOf the 135 million customers, more than 115 million are from Brazil. Mexico operations, on the other hand, are growing. Crossing 15 million customers in the first quarter, Nu became Mexico’s third-largest financial institution and is also the country’s fastest-growing credit card issuer. Importantly, Nu’s Mexican customer base has grown nearly seven times over the past four years.
If management gives any indication that Mexico is scaling faster than Brazil, the market will discount this into Nu Holding’s valuation. However, investors should closely monitor increases in deposits and loan disbursements.
At the end of the day, a bank’s business is essentially a spread business. It takes in low-cost deposits and lends them out to high-quality, credit-worthy borrowers at higher interest rates.
Additionally, Colombia, with five million customers, is also scaling up. While growth here may not necessarily move the overall needle much, investors may eventually see this market’s long-term value.
Yet, growth for growth’s sake won’t impress the stock market. As a large-scale lender, Nu’s credit expansion must be accompanied by profit growth. And that leads us to our next catalyst.
Today's Change
(
-0.66
%) $
-0.09
Current Price
$
13.56
2. Better than expected credit qualityThe market’s greatest worry has been that Nu Holding’s rapid lending growth could result in higher losses. It isn’t surprising that the stock is down 20% this year. In the first quarter, the credit loss allowance rose 33% from the fourth quarter of 2025 to $1.79 billion, partly driven by portfolio growth.
The company’s primary credit quality indicator, its 15- to 90-day loan portfolio’s non-performing loan (NPL) ratio, was up 89 basis points (bps) from the previous quarter. Management attributed the worsening performance to seasonality, but the market seems wary. The good news is the 90+ NPL ratio declined 10 bps, to 6.5%.
While Q1 net profit grew 56% year-over-year, it came in slightly below the previous quarter’s bottom line. Assuming management’s “seasonality” argument is correct, if the second-quarter 15-90 NPL ratio falls more than expected while 90+ NPL remains stable, expect a solid boost in the stock price.
Simultaneously, investors will be watching for improvements in Nu’s net interest margin (NIM), which, on a risk-adjusted basis, should exceed the 9.5% it reported in Q1. In layman’s terms, net interest margin indicates the difference between a lender’s interest income and interest expense as a ratio of its average earning assets for the quarter. The higher the margin, the more profitable the lender.
The stock market will essentially read the two signals as those of a lending business that can grow without being burned by credit losses.
3. Growing average revenue per customerThis is probably not a highly appreciated metric. But investors evaluating Nu Holdings’ long-term prospects will want to assess the digital bank’s trajectory by its monthly average revenue per active customer (ARPAC).
A growing ARPAC is insurance against slowing or even decreasing volume growth. Nu Holding doesn’t necessarily have to acquire large volumes of customers. Instead, it’s increasingly focused on increasing average revenue per customer.
For example, around 62% of Brazil’s adults already use its services, meaning that future volume-driven growth will inevitably slow in Nu’s primary market.
The company has meaningfully increased its ARPAC from $11.6 per customer in Q1 2025 to $15.9 per customer in Q1 2026, a 37% year-on-year increase. As a result, it successfully reduced its efficiency ratio from 21.4% to 17.6% over the same period.
Can Nu Holding continue this trend? That remains to be seen, but there are solid indications that management is putting serious work into reducing its operating leverage.
A multi-expansion storyNu Holdings is a multi-expansion story that has the ability to pull multiple levers for growth. However, these catalysts should work in tandem, given the macroeconomic uncertainty.
In addition, a surprise announcement about definite development in its U.S. expansion plans could drive the stock higher. Earlier this year, Nu Holdings received conditional approval from U.S. regulators for a national bank charter.
While beating the consensus EPS estimate of $0.19 will be important tomorrow, look for unexpected gains in these catalysts to drive the stock higher.
Tencent zveřejnil výsledky za 2. čtvrtletí 2026 a na webináři představil vedení společnosti. Další podrobnosti o tržbách ani zisku v poskytnutém textu nepadly.
Tencent Holdings Limited (TCEHY) Q2 2026 Earnings Call August 12, 2026 8:00 AM EDT
Company Participants
Wendy Huang - Investor Relations Officer
Huateng Ma - Co-Founder, Chairman & CEO
Chi Ping Lau - President
James Mitchell - Chief Strategy Officer & Senior EVP
Shek Hon Lo - CFO & Senior VP
Conference Call Participants
Robin Zhu - Bernstein Institutional Services LLC, Research Division
Kenneth Fong - UBS Investment Bank, Research Division
Ronald Keung - Goldman Sachs Group, Inc., Research Division
Alicis a Yap - Citigroup Inc., Research Division
Alex Liu - BofA Securities, Research Division
Alex Yao - JPMorgan Chase & Co, Research Division
Gary Yu - Morgan Stanley, Research Division
Presentation
Wendy Huang
Investor Relations Officer
Good day, and good evening. Thank you for standing by. Welcome to Tencent Holdings Limited 2026 Second Quarter Results Announcement Webinar. I'm Wendy Huang from Tencent IR team.
[Operator Instructions] And please be advised that today's webinar is being recorded. Before we start the presentation, we would like to remind you that it includes forward-looking statements, which are underlined by a number of risks and uncertainties and may not be realized in the future for various reasons.
Information about general market conditions is coming from a variety of sources outside of Tencent. This presentation also contains some unaudited non-IFRS financial measures that should be considered in addition to, but not as a substitute for measures of the group's financial performance prepared in accordance with IFRS.
For a detailed discussion of risk factors and non-IFRS measures, please refer to our disclosure documents on the IR section of our website. Let me now introduce the management team on the webinar tonight. Our Chairman and CEO, Pony Ma, will kick off with a short overview.
President, Martin Lau, will provide a strategy review. Chief Strategy Officer, James Mitchell, will provide a business review; and Chief Financial Officer, John Lo, will conclude with financial
Granite získala od Hydrostor zakázku za zhruba 31 milionů USD na přípravné práce pro projekt Willow Rock Energy Storage Center v Kalifornii. Součástí je úprava areálu a infrastruktury pro plánované úložiště energie o výkonu 500 MW.
WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) announced today that it has been awarded an approximately $31 million Early Works Grading Package by Hydrostor for its Willow Rock Energy Storage Center (WRESC) Project, located north of Rosamond in Kern County, California. The award will be included in Granite’s third quarter 2026 CAP.
This award aligns with Granite’s strategic focus on growing specialized private-sector work with clients that value construction expertise, collaboration, and problem-solving
Share The Willow Rock Energy Storage Center is a planned 500 MW Advanced Compressed Air Energy Storage (A-CAES) facility in the Mojave Desert, capable of powering more than 400,000 homes for eight hours.
Granite’s scope includes construction of early site infrastructure on the 89-acre project site, including a nine-acre pad to support the subsurface contractor’s work to drill and excavate a 1.3-million-cubic-yard cavern approximately 2,000 feet below the surface. Additional work includes offsite road improvements, onsite stormwater basins, and laydown areas for subsurface mining materials and topside EPCM contractors staging materials for construction of the four-turbine energy storage facility.
“This award aligns with Granite’s strategic focus on growing specialized private-sector work with clients that value construction expertise, collaboration, and problem-solving,” said Darryl Ebel, Granite Area Manager. “We are proud to bring our Bakersfield team’s site development experience to a project designed to support California’s long-term energy storage needs.”
“Hydrostor is thrilled to start pre-construction work on-site in Kern County for our flagship U.S. energy storage facility, which will support thousands of jobs locally and help to ensure a reliable California grid for decades to come. Partnering with an organization like Granite will help us set the stage for successful project delivery, as they bring their industry leading expertise to the site,” said Josh Rowan, Senior Vice President of Project Execution at Hydrostor.
Granite’s early works grading phase of the project began in July 2026 and is planned to conclude in March 2027.
For more information about the project, visit Hydrostor’s Willow Rock Energy Storage Center project page.
About Granite
Granite is America’s Infrastructure Company™. Incorporated since 1922, Granite (NYSE:GVA) is one of the largest diversified construction and construction materials companies in the United States as well as a full-suite civil construction provider. Granite’s Code of Conduct and strong Core Values guide the Company and its employees to uphold the highest ethical standards. Granite is an industry leader in safety and an award-winning firm in quality and sustainability. For more information, visit the Granite website, graniteconstruction.com, and connect with Granite on LinkedIn, X, Facebook, and Instagram.
GE Vernova zvýšila celoroční výhled tržeb na 45,5 až 46,5 miliardy USD a volného cash flow na 11,5 až 12,5 miliardy USD po silném druhém čtvrtletí. Ziskovost však zaostala za odhady a větrná divize dál prodělává.
Two years after its spinoff from General Electric, GE Vernova NYSE: GEV has become a key player in the artificial intelligence buildout.
GE Vernova Today
$1,039.43 +27.55 (+2.72%)
As of 03:58 PM Eastern
52-Week Range$530.16▼
$1,195.94Dividend Yield0.19%
P/E Ratio29.75
Price Target$1,133.15
It doesn’t make chips or software. The giant industrial company makes the turbines, grid equipment, and nuclear technology that help keep AI data centers running.
Today, this nearly $270 billion company is showing up on lists of growth names to watch. Up about 55% this year, its stock still has some room to run, analysts believe.
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But while its latest earnings showed the strength of its business, there were some soft spots reported that are worth watching. Investors might want to know the full story rather than simply following the top numbers and mentions of AI.
Strong Revenue Growth Builds a Record BacklogGE Vernova reported second-quarter 2026 results on July 22, showing strong growth at the top line, but weaker toward the bottom.
Revenue rose 22% year-over-year (YOY) to $11.1 billion, comfortably ahead of Wall Street's consensus estimate of $10.79 billion. Orders more than doubled, surging 88% organically to $24.2 billion. That pushed the company's total backlog to $176 billion, up $13 billion in just three months, with management targeting $200 billion in 2027.
In other words, the outlook looks strong as the backlog represents years of future revenue already under contract. In particular, gas turbine capacity booked for slot reservations climbed from 100 gigawatts to 116 gigawatts in the quarter, with management now expecting to reach at least 125 gigawatts by year-end.
Profitability Falls Short of ExpectationsThen came the numbers further down the P&L. Adjusted earnings per share came in well below the roughly $3.17 analysts had modeled, even as net income still rose to $649 million, or $2.47 per diluted share, from $492 million, or $1.86 per share, a year earlier.
Adjusted EBITDA grew 62% YOY to $1.25 billion, with margin expanding 340 basis points organically to 11.2%. That was apparently below what Wall Street expected, as equipment revenue in electrification and power is growing faster than the more profitable services business right now.
The power segment reported orders of $16.7 billion increased 134% organically, while revenue of $5.5 billion was an increase of 14%, led by the gas power equipment sector. Electrification orders increased 66% organically to $6.3 billion.
Wind orders, however, dropped 40% organically to just $1.2 billion.
In other words, GE Vernova is growing faster than expected but converting that growth into profit more slowly than expected.
Cash Flow Provides a Major Bright SpotWhat was impressive was the quarter's cash. Free cash flow hit $5.1 billion in the quarter alone, up $4.9 billion, and more than all of 2025's total. This was driven largely by customers making bigger upfront payments to reserve turbine slots.
That cash pile helped push the cash balance sheet to $13.1 billion, up $4.3 billion in the year. Management has already returned $3.9 billion to shareholders this year through buybacks and a 50-cent quarterly dividend, which today yields just 0.2%.
Buoyed by that cash generation, management also raised full-year revenue guidance to a range of $45.5 billion to $46.5 billion and lifted free cash flow guidance to $11.5 billion to $12.5 billion.
Wind Losses and Valuation Create RisksThose big numbers, however, do not erase the problems. As noted, the first is wind. The segment's revenue of $2 billion represented a decline of 11% organically in the quarter, and it posted an EBITDA loss of roughly $275 million.
That’s part of an expected full-year loss of nearly $400 million as weak U.S. onshore demand, permitting delays, and tariffs continue to weigh on the business. Management has guided to a net tariff impact of $250 million to $350 million for 2026 across the whole company, a cost included in the guidance but still a painful hit to margins.
The second issue is valuation. At a trailing price-to-earnings ratio near 30, GEV trades well above levels that value investors favor, and that premium might be hard to maintain if this type of quarter repeats.
Competition also exists. GE Vernova sits at the center of the AI power story alongside NuScale Power NYSE: SMR in nuclear, traditional rivals Siemens Energy and Vestas Wind Systems battling for global turbine share, and Eaton NYSE: ETN, which competes in the electrification and grid equipment space that is one of GE Vernova's fastest-growing segments.
Analysts Remain Bullish on GE Vernova Health Indicator for GE Vernova TradeSmith's Health IndicatorA long-term volatility-based measure designed for securities held 12 months or longer.
Green: Strong and healthy uptrend with normal pullbacks.
Yellow: Significant pullback but still within expected volatility.
Red: Dropped beyond expected volatility; considered unhealthy.
Green Zone (2m+)
1-Year History
Aug 25 Nov 25 Feb 26 May 26 Aug 26
GEV's financial health is in the Green zone, according to TradeSmith. GEV has been in this zone for over 2 months.
Even with the risks, GE Vernova is a powerhouse that has analysts taking a positive view. The stock carries a consensus rating of Moderate Buy from 30 analysts, split among two Strong Buy ratings, 22 Buy ratings, five Holds, and only one Sell.
The average 12-month price target set by analysts is $1,133.15, implying roughly 10% upside from current levels at about $1,042. The high target is $1,450 while the lowest is set at $580, clearly indicating there might be more to the story.
Growth Potential Comes at a PremiumOverall, GE Vernova remains one of the more legitimate ways to invest in the electricity demands of artificial intelligence. Backed by a record backlog, the company’s orders are surging, and cash flow is accelerating.
But this is not a value stock trading at a discount. It is premium priced and just showed investors it can still stumble on profitability.
Investors should understand that wind losses, tariff costs, and a rich valuation leave little room for error. Revenue growth is likely coming, but the rest remains to be seen.
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Brinker International zveřejnila výsledky za 4. čtvrtletí fiskálního roku 2026. Společnost uvedla, že podrobnosti o provozu a strategii zazní v hovoru k výsledkům.
Brinker International, Inc. (EAT) Q4 2026 Earnings Call August 12, 2026 10:00 AM EDT
Company Participants
Kim Sanders - Vice President of Investor & Government Relations
Kevin Hochman - President, CEO & Director
Mika Ware - Executive VP & CFO
Conference Call Participants
Dennis Geiger - UBS Investment Bank, Research Division
David Palmer - Evercore ISI Institutional Equities, Research Division
Jeffrey Farmer - Gordon Haskett Research Advisors
Andrew Strelzik - BMO Capital Markets Equity Research
John Ivankoe - JPMorgan Chase & Co, Research Division
Brian Harbour - Morgan Stanley, Research Division
Brian Vaccaro - CGS International
Andrew Charles - TD Cowen, Research Division
Sara Senatore - BofA Securities, Research Division
Christopher Carril - KeyBanc Capital Markets Inc., Research Division
Jon Tower - Citigroup Inc. Exchange Research
Margaret-May Binshtok - Wolfe Research, LLC
Presentation
Operator
Good day, and welcome to the Brinker Q4 F '26 Earnings Call. [Operator Instructions]
It is now my pleasure to turn the floor over to your host, Kim Sanders, Vice President of Investor Relations. Ma'am, the floor is yours.
Kim Sanders
Vice President of Investor & Government Relations
Thank you, Holly, and good morning, everyone, and thank you for joining us on today's call. Here with me today are Kevin Hochman, Chief Executive Officer and President of Brinker International and President of Chili's; and Mika Ware, Chief Financial Officer.
Results for our fourth quarter were released earlier this morning and are available on our website at brinker.com. As usual, Kevin and Mika will first make prepared comments related to our strategic initiatives and operating performance. Then we will open the call for your questions.
Before beginning our comments, I would like to remind everyone of our safe harbor regarding forward-looking statements. During our call, management may discuss certain items, which are not based entirely on historical facts. Any such items should be considered forward-looking statements within the meaning of the Private Securities
CleanCore Solutions uzavřela veřejnou nabídku 400 000 000 akcií (nebo pre-funded warrantů) a připojených warrantů za zhruba 100 milionů USD. Výnosy chce použít hlavně na rozvoj kritické infrastruktury pro AI, včetně Minnesota Project, a na provozní kapitál a obecné korporátní účely.
, /PRNewswire/ -- CleanCore Solutions, Inc. (NYSE American: ZONE) ("CleanCore" or the "Company"), a company building the critical infrastructure that powers the AI economy, today announced the closing of its previously announced public offering (the "Offering") of 400,000,000 shares of common stock (or pre-funded warrants in lieu thereof) and accompanying warrants to purchase up to 400,000,000 shares of common stock. Each share of common stock and accompanying warrant was offered at a combined public offering price of $0.25, for gross proceeds of approximately $100,000,000, before deducting placement agent discounts, commissions, and offering expenses. The pre-funded warrants have an exercise price of $0.0001 per share. Each accompanying warrant is immediately exercisable at an exercise price of $0.25 per share of common stock and will expire five years following the date of issuance. If all accompanying warrants are exercised in full, the Company would receive additional gross proceeds of approximately $100,000,000, before deducting applicable expenses.
Curvature Securities LLC is acting as the sole placement agent for the Offering.
CleanCore intends to use the net proceeds from the Offering primarily to fund the development of AI critical infrastructure opportunities, including the Minnesota Project, and for working capital and general corporate purposes.
The shares of common stock, pre-funded warrants and warrants were offered pursuant to a registration statement on Form S-3 (File No. 333-289867), which was previously filed with and subsequently declared effective by the Securities and Exchange Commission (the "SEC") on August 29, 2025. The Offering was made only by means of a prospectus supplement which is a part of the effective registration statement. A final prospectus supplement and the accompanying base prospectus relating to the public offering has been filed with the SEC and is available on the SEC's website at www.sec.gov. Additionally, electronic copies of the final prospectus supplement and the accompanying base prospectus may be obtained from Curvature Securities LLC, 39 Main Street, Chatham, NJ 07928, or by telephone at (908) 944-9400, or by email at [email protected].
This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in the Offering, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About CleanCore Solutions, Inc.
CleanCore Solutions, Inc. (NYSE American: ZONE) is helping to build the critical infrastructure that powers the AI economy. Through a growing pipeline of projects, ZONE aims to help meet the increasing demand for compute capacity, power, and digital infrastructure required by the world's leading AI companies.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include, but are not limited to, statements regarding the expected use of the proceeds from the Offering. Forward-looking statements are generally identified by words such as "anticipates," "believes," "expects," "intends," "plans," "may," "will," "could," "should," "estimates," "projects," "potential," "focused on," "aims," "expand," "expected," "look forward," and similar expressions. These forward-looking statements are based on management's current expectations and assumptions as of the date of this press release and are subject to significant risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied. Such risks and uncertainties include, but are not limited to: the highly speculative and uncertain nature of the Company's AI critical infrastructure business; the Company's continued ability to successfully transition its business model from cleaning services; the Company's lack of operating history in the data center or computing infrastructure industry; the Company's limited experience in the data center and AI infrastructure industries; the status of the Company's operations, results of operations, growth strategy and liquidity; and, general economic, financial, capital market and industry conditions.
For a more complete discussion of risks and uncertainties, please refer to the Company's filings with the SEC, including the "Risk Factors" section of the Company's most recent Annual Report on Form 10-K or Quarterly Report on Form 10-Q. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. All forward-looking statements are qualified in their entirety by this cautionary statement.
Cerebras roste o 11,58 % na 261,95 USD před dnešními výsledky za 2. čtvrtletí, které mají přijít po uzavření trhu. Wall Street čeká ztrátu 17 centů na akcii při tržbách 194,20 milionu USD.
Cerebras Systems Inc. (NASDAQ:CBRS) shares are soaring Wednesday as investors position ahead of the AI chipmaker’s second-quarter results, due after the market closes today.
Cerebras Systems stock is charging ahead with explosive momentum. What’s fueling CBRS momentum? Cerebras Heads Into Q2 Earnings After Landmark OpenAI and AWS DealsWall Street is projecting a second-quarter loss of 17 cents per share on revenue of $194.20 million. That figure lines up closely with Cerebras’ own guidance of approximately $194 million in core revenue, issued alongside first-quarter results, suggesting the Street expects the company to land in line with its own forecast.
If Cerebras meets that mark, the results would build on a first quarter in which core revenue reached $191.3 million, up 12% sequentially and 92% year-over-year.
The first quarter’s biggest headline may have been Cerebras’ new agreement with OpenAI, a multi-year deal valued at more than $20 billion under which OpenAI will deploy 750 megawatts of Cerebras’ inference computing capacity. The two companies also co-launched Codex-Spark, a coding model built for near-instant responses. Cerebras separately began a multi-year partnership with Amazon Web Services to scale fast inference computing, under which AWS’s Trainium 3 chips will handle prefill processing while Cerebras’ CS-3 systems run decoding.
CEO Andrew Feldman said the company’s wafer-scale chip technology delivers the fastest AI processing available, arguing that speed advantage is fueling growing demand from customers such as OpenAI and AWS.
Cerebras Systems Technical Levels to WatchCBRS is trading well above its short-term trend markers, sitting about 27% over the 20-day SMA at $207.43 and about 26% over the 50-day SMA at $208.82. That positioning shows strong upside extension compared with the recent consolidation zone. Even so, the 20-day SMA is still below the 50-day SMA, which keeps the longer-term trend repair process unfinished even as price moves higher.
MACD is offering the clearest read on momentum. It is above its signal line and the histogram is positive, which points to improving momentum compared with the previous downswing. In simple terms, MACD above the signal line suggests sellers are losing influence and buyers are gaining control even if the broader trend has not fully shifted.
From a levels standpoint, the stock is sitting near the midpoint of its 52-week range, which spans from $160.81 to $386.34. After a swing low in June and a swing high in May, the current move looks like a continuation attempt off that June base. Trend-focused traders will be watching to see if price can stay above the short-term averages long enough to eventually flip the 20-day and 50-day relationship back to bullish.
Key Resistance: $386.34 Key Support: $208.82 CBRS Shares Are FlyingCBRS Price Action: Cerebras shares were up 11.58% at $261.95 at the time of publication on Wednesday, according to Benzinga Pro.
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A screen displays the Cerebras Systems, an artificial intelligence chip maker, logo during the company’s IPO at the Nasdaq Market site in New York City, U.S., May 14, 2026. REUTERS/Eduardo Munoz Purchase Licensing Rights, opens new tab
Aug 12 (Reuters) - Cerebras Systems (CBRS.O), opens new tab raised its annual revenue and gross margin forecasts on Wednesday, buoyed by robust demand for its chips from companies ramping up data-center capacity to power AI services.
Still, its shares were down more than 14% in extended trading after closing up 11.6% in the regular session. The stock has gained 15.5% week-to-date.
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The chip designer is banking on growing demand for inference, the data crunching that occurs when a user queries a chatbot, as it seeks to challenge Nvidia's (NVDA.O), opens new tab dominance in the AI processor market.
Cerebras' flagship wafer-scale engine (WSE) is a single chip the size of a dinner plate containing trillions of transistors, a design that it says is more efficient than connecting thousands of smaller graphics processors together, as Nvidia does.
By placing memory directly on the chip, the WSE is built to accelerate inference and reduce the data-transfer delays associated with conventional graphics processors that rely on separate high-bandwidth memory.
Placing memory directly on the chip has lessened the impact of surging memory prices and placed it in a better position to compete with Nvidia, Cerebras CEO Andrew Feldman told Reuters in an interview.
"Nvidia's prices have gone through the roof because of HBM prices," Feldman said, referring to the high-bandwidth memory included with AI processors. "This is a battleground, and if they can't deliver or they're having significant component price increases, of course that helps."
The Sunnyvale, California-based company expects 2026 adjusted revenue between $880 million and $890 million, higher than its previous forecast of $855 million to $865 million.
"We have made rapid progress in key areas required to deliver exceptional growth against our remaining performance obligations of $25.4 billion (contract revenue expected to be recognized in the future), and plan to more than triple revenue in 2027," finance chief Bob Komin said.
Annual adjusted gross margin is forecast at 41% to 43%, up from 38% to 41% projected earlier. Analysts, on average, estimate 35.89%, according to data compiled by LSEG.
Second-quarter sales rose 74.3% to $180.11 million. Adjusted loss was $6.91 million, narrower than the $40.5-million loss a year ago.
Cerebras is racing to expand chip volumes to support a $20 billion multi-year agreement to provide AI compute to OpenAI, a deal viewed as key to justifying its valuation.
Its core cloud and services revenue, which reflects the OpenAI ramp, nearly quadrupled to $127.73 million in the second quarter.
Reporting by Anhata Rooprai in Bengaluru and Max A. Cherney in San Francisco; Editing by Shilpi Majumdar
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Max A. Cherney is a correspondent for Reuters based in San Francisco, where he reports on the semiconductor industry and artificial intelligence. He joined Reuters in 2023 and has previously worked for Barron’s magazine and its sister publication, MarketWatch. Cherney graduated from Trent University with a degree in history.
Cerebras Systems raised its full-year guidance in the second earnings report following the chipmaker's IPO in May. But the stock tumbled about 14% in extended trading.
Here's how it did in the second quarter. Results aren't comparable to analyst estimates.
Revenue: $210 million Loss per share: $2.89 Cerebras said in a statement on Wednesday that it expects core revenue of between $214 and $216 million in revenue this quarter. Analysts expected $212.6 million in revenue, without specifying if that refers to core revenue, according to LSEG.
The $210 million sales figure for the second quarter represents core revenue. Cerebras also reported a GAAP revenue figure of $180.1 million, which excludes "pass-through revenue."
The company recorded a net loss of $450.5 million, after finishing with a profit of $309.5 million, or $1.91 per share, a year earlier. Most of the loss is tied to stock-compensation costs of $386.6 million.
The company raised its full-year outlook, and now expects core revenue of between $880 and $890 million, up from a prior range of $855 million to $865 million.
Cerebras CEO Andrew Feldman said in an interview that AI demand is "through the roof," and that companies are paying up for its specialty inference chips.
Cerebras is challenging AI chip leader Nvidia for some AI tasks, especially those that need "low latency," or quick responses for interactivity. The company calls it "fast inference." The company said its core gross margin will expand to between 38% and 40% in the current quarter, addressing a concern for investors.
"Gross margins are are in a good spot, and growing, because fast inference is priced at a premium," Feldman said in an interview, adding that Cerebras was able to increase the AI output of its systems.
Cerebras went public on the Nasdaq in May, capitalizing on investor interest in semiconductors that can run AI models. It priced its offering at $185 and raised $6.4 billion in the offering. The stock peaked in May and has fallen since, but closed on Wednesday at $262.06, up 42% from its IPO.
The chipmaker has $25.4 billion in remaining performance obligations, which it said was a sign of "extraordinary future demand." Feldman said that as Cerebras grows, it will benefit from larger scale. The company also said it expects revenue to triple in the next fiscal year.
"We will manufacture more efficiently. We'll get better pricing on componentry. We'll amortize our manufacturing organization over more units," Feldman said. "All of those point up and to the right."
In recent weeks, Cerebras a partnership with Nvidia rival Advanced Micro Devices with products going into production later this year, and said that OpenAI can use its chips to serve its latest model, GPT 5.6- Sol. Cerebras also offers access to its chips through its cloud, which reported $126 million in revenue during the June quarter.
Cerebras Systems ve 2. čtvrtletí nesplnila odhady tržeb ani ztráty na akcii, když vykázala tržby 180,11 milionu USD a ztrátu 2,98 USD na akcii. Akcie v prodlouženém obchodování klesly o 9,26 %.
Cerebras Systems Inc. (NASDAQ:CBRS) posted its second-quarter results after Wednesday’s closing bell, missing analyst estimates on the top and bottom lines.
Here’s a look at the details inside the report.
CBRS stock is moving. Watch the price action here. Cerebras Q2 Details Cerebras Systems reported GAAP quarterly losses of $2.98 per share, according to Benzinga Pro data.
Quarterly revenue came in at $180.11 million which missed the Street estimate of $194.2 million by 7.26%.
“This was an outstanding quarter for Cerebras. Core revenue more than doubled to $210 million, and our cloud business nearly quadrupled year-over-year,” said Andrew Feldman, Cerebras co-founder and CEO.
“Speed changes what AI can do. It makes AI more useful, more productive, and opens entirely new markets. As a result, the demand for fast inference is enormous and Cerebras is scaling to meet it, securing more data center capacity, expanding manufacturing, and growing with customers and partners including OpenAI, AWS, AMD, and CrowdStrike,” Feldman added.
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CBRS Stock Price Activity: According to data from Benzinga Pro, Cerebras stock was down 9.26% to $238.96 in Wednesday’s extended trading.
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Microsoft klesl o 2 % v ranním obchodování, protože investoři řeší spekulace kolem čipu Maia a prudce rostoucí výdaje na infrastrukturu. Firma přitom dál masivně investuje do AI a Azure.
Microsoft Corp. shares MSFT fell 2% in Wednesday morning trading as investors weighed fresh speculation about the company's in-house Maia AI chips against its rapidly rising infrastructure spending.
While the software giant has not confirmed reports that another Maia processor could launch as early as September, analysts increasingly view Microsoft's custom silicon strategy as a key component of its long-term artificial intelligence ambitions.
The pullback comes despite continued optimism around Microsoft's AI business following its strong fiscal fourth-quarter results, with investors focusing on whether massive capital investments can translate into sustained earnings growth and stronger Azure economics.
According to a Barron's report, Microsoft may unveil another Maia AI processor as early as September, although the company has not confirmed that timeline.
Microsoft already offers the Maia 200, a three-nanometer AI inference chip featuring more than 140 billion transistors and 216GB of high-bandwidth memory.
The processor is designed to handle AI workloads across Azure AI services and Microsoft 365 Copilot.
Rather than replacing chips supplied by Nvidia and AMD, Microsoft's custom silicon strategy is aimed at improving the economics of its AI infrastructure.
By shifting more AI inference workloads onto internally designed processors, the company could lower operating costs, optimize data center performance, and gain greater control over its AI technology stack.
Microsoft is investing tens of billions of dollars in AI infrastructure as the company looks to be independent of outside chipmakers.
Capital spending remains in focus despite strong AI demandMicrosoft has forecast Azure revenue growth of roughly 45% while quarterly capital expenditure is running at approximately $50 billion, underscoring the scale of its AI investment.
Debt accounts for 7.5% of total assets compared with a historical average of 19%, indicating the company is financing its expansion from a position of financial strength rather than excessive leverage.
Management has also indicated that capital expenditures will continue increasing during fiscal 2027, reflecting its commitment to expanding AI infrastructure.
Microsoft shares have climbed 26% since the company reported fiscal fourth-quarter earnings on July 29, prompting some investors to question whether much of the optimism is already reflected in the stock price.
However, analysts argue that Microsoft's spending is directly tied to strong demand.
Azure demand exceeded available capacity during fiscal Q4 2026, while management expects Azure revenue growth of approximately 45% in constant currency during the first quarter of fiscal 2027.
Analysts said that investors should relook at Microsoft's investment case, instead of viewing higher spending as a wanring sign, view it as company preapring aggresively to support increasing AI demand.
Although Microsoft has underperformed the broader market over the past 12 months and remains about 6.5% below its 52-week high, analysts continue to view the company's AI investments and custom chip strategy as central to its long-term growth outlook.
Bank of America čeká, že Walmart ve fiskálním 2. čtvrtletí 2027 znovu překoná odhady a zvedne výhled díky silnějším digitálním tržbám a maržím. Analytik zopakoval doporučení Buy a cíl 144 USD.
Walmart Inc. (NASDAQ:WMT) is scheduled to release its fiscal 2027 second-quarter earnings results on Aug. 20 before the market opens, with Bank of America Securities analyst Christopher Nardone expecting the retail giant could return to a beat-and-raise cycle despite signs of softer spending among lower-income consumers.
Nardone reiterated a Buy rating and $144 price forecast on Walmart ahead of the report. The analyst said accelerating digital sales and improving profit margins could support results even if U.S. comparable-sales growth slows.
Walmart Earnings Beat Still In PlayBank of America forecasts second-quarter adjusted earnings of 74 cents per share. The firm lowered its Walmart U.S. comparable-sales forecast, excluding fuel, to 3.5% from 4%.
The analyst estimates that every 50-basis-point shortfall in second-quarter U.S. comparable sales would reduce Walmart’s full-year net sales growth by about 10 basis points. Still, strength elsewhere in the business could allow Walmart to beat expectations and raise its outlook.
Walmart previously guided for second-quarter constant-currency net sales growth of 4% to 5%, down roughly 100 basis points from the first quarter’s 5.7% growth.
Bank of America expects 4.6% growth. The firm said the slowdown reflects the end of tax-refund benefits, less help from general merchandise pricing and some moderation among lower-income consumers.
Price Cuts Could Fuel Market-Share GainsThe analyst expects Walmart’s July 6 price investments to help the retailer gain market share in the second half of the year. A larger Marketplace assortment and faster delivery should also support those gains.
Bank of America said the investments were already included in Walmart’s guidance and should not create additional margin risk. Tariff-related refunds could create a margin headwind next year as Walmart laps those benefits. However, high-growth, high-margin businesses such as advertising could help fund further price investments.
Digital Business Becomes A Bigger Profit DriverThe analyst also highlighted Walmart’s digital businesses as an increasingly important part of the investment case.
Global advertising revenue grew 36% in the first quarter, while Marketplace sales jumped nearly 50%. Membership fee revenue also remained strong. Bank of America said e-commerce and alternative revenue streams could improve profitability even if core U.S. comparable-sales growth remains in the 3% to 4% range.
The firm forecasts fiscal 2027 adjusted earnings of $2.90 per share, followed by $3.20 in fiscal 2028 and $3.53 in fiscal 2029. It expects fiscal 2027 revenue of about $753.42 billion.
Bank of America’s $144 price forecast is based on 45 times its fiscal 2028 adjusted earnings estimate. The premium reflects expectations for positive U.S. comparable sales, continued market-share gains and operating income growth at nearly twice the pace of sales growth.
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Walmart Analyst Ratings Ahead Of EarningsWalmart carries a consensus Buy rating with an average price forecast of $141.11. Recent analyst actions include:
RBC Capital Markets: Outperform, with a $137 price forecast on Aug. 12. Oppenheimer: Upgraded Walmart to Perform on Aug. 4. Bernstein: Outperform; lowered its price forecast to $142 from $145 on July 31. BTIG: Buy, with a $145 price forecast on June 8. Tigress Financial: Buy; raised its price forecast to $155 from $150 on May 29. UBS: Buy; lowered its price forecast to $141 from $147 on May 22. BNP Paribas: Outperform; lowered its price forecast to $146 from $147 on May 22. Walmart Q2 Earnings PreviewWall Street expects Walmart to report second-quarter adjusted earnings of 74 cents per share, up from 68 cents a year earlier. Revenue is expected to rise to $186.77 billion from $177.40 billion.
Investors will closely watch margins, consumer demand and comparable sales. Walmart’s ability to protect profitability while maintaining traffic could play a key role in the market’s reaction.
Valuation also raises the stakes. Walmart trades at about 39.9 times earnings, leaving less room for weaker-than-expected results or a cautious outlook.
Walmart Earnings HistoryWalmart has beaten earnings estimates in two of the past four quarters, with an average earnings surprise of negative 0.9%.
In the most recent quarter, reported May 21, Walmart posted earnings of 66 cents per share, matching estimates. Revenue of $177.75 billion topped the $174.75 billion estimate.
On Feb. 19, Walmart reported earnings of 74 cents per share, beating the 73-cent estimate. Revenue of $190.70 billion also topped expectations of $189.18 billion.
However, Walmart missed earnings expectations on Aug. 21, 2025. Earnings of 68 cents per share fell short of the 74-cent estimate, even as revenue of $177.40 billion beat the $174.80 billion forecast.
The recent pattern suggests Walmart’s revenue performance has been more consistent than its earnings results. That could put greater focus on margins and forward guidance when the retailer reports its latest quarter.
WMT Price Action: Walmart shares were up 1.93% at $115.45 at the time of publication on Wednesday, according to Benzinga Pro data.
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Bank of America u Target ponechala doporučení podváha, ale zvýšila cenový cíl na 124 USD z 110 USD. I tak je to asi 19 % pod cenou akcie 152,29 USD k 12. srpnu.
Target Corporation (NYSE:TGT) is showing encouraging signs that its turnaround is gaining traction, but Bank of America remains cautious heading into the retailer’s fiscal second-quarter earnings report next week.
Bank of America Securities analyst Christopher Nardone reiterated an Underperform rating on Target while raising the price forecast to $124 from $110. The new forecast remains about 19% below the stock’s $152.29 price as of Aug. 12.
The analyst also raised earnings estimates after stronger consumer trends and improving sales under Target’s new leadership. However, Nardone remains wary about the pace of earnings revisions and whether recent comparable-sales momentum can last.
Stronger Sales Lift Target EstimatesBank of America increased its fiscal 2027 earnings estimate to $8.46 per share from $8.20. It raised its fiscal 2028 estimate to $8.84 from $8.53 and its fiscal 2029 estimate to $9.36 from $9.05. The firm also lifted its revenue forecasts for each of those years.
For the second quarter, Bank of America expects adjusted earnings of $2.34 per share, compared with the Visible Alpha consensus of $2.30. It forecasts net sales of $26.10 billion, roughly in line with consensus, and comparable sales growth of 2.5%, slightly above the 2.3% consensus estimate.
The analyst expects comparable sales to grow about 2% in the second half, roughly in line with Target’s guidance. Resilient consumer spending helped drive the firm’s improved outlook.
Margins Could Be A Bright SpotSecond-quarter margins could provide another positive catalyst. Bank of America forecasts gross margin expanding 90 basis points year over year to 29.9%, about 20 basis points better than consensus. Easier merchandise-margin comparisons and lower tariff pressure should help.
However, selling, general and administrative expenses remain a wild card. Target’s guidance includes about $1 billion of incremental SG&A spending and another $1 billion of incremental capital expenditures.
Nardone said those investments make sense for the long term. Still, they could limit upside if comparable-sales growth slows during the second half, particularly after Target’s earnings multiple expanded sharply following its first-quarter report.
Turnaround Faces A Tougher TestTarget has stepped up partnerships and product launches to generate customer interest. Recent initiatives include collaborations with Pokémon, LoveShackFancy and Hollister, while Target Beauty Studio is set to roll out to more than 600 stores in August.
Still, Bank of America sees risks to the recovery. A slower turnaround in apparel and home could expose Target to heavier competition and promotional pressure. Competitive food and beverage pricing could also limit market-share gains.
The valuation adds another hurdle. Bank of America’s base case points to only about 4% earnings growth in fiscal 2028 as Target cycles strong first-half sales trends and loses favorable margin comparisons. The firm’s $124 price forecast is based on 14 times estimated fiscal 2027 earnings.
Bank of America said an upside scenario could involve a roughly 16-times earnings multiple and about $10 in fiscal 2028 earnings per share. Even so, the analyst believes the current risk-reward remains challenging after Target’s strong recent run.
TGT Price Action: Target shares were up 0.90% at $153.65 at the time of publication on Wednesday. The stock is trading near its 52-week high of $154.88, according to Benzinga Pro data.
Image by Ken Wolter via Shutterstock
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