MIAMI, Oct. 27, 2026 (GLOBE NEWSWIRE) -- Watsco, Inc. (NYSE: WSO) announced its operating results for the quarter and nine months ended September 30, 2026.
Watsco is the largest distributor in the highly fragmented North American HVAC/R market. Since entering distribution in 1989, Watsco has achieved a 17% compounded annual total shareholder return through a combination of organic growth, driven by the Company’s industry-leading technology platforms, and the acquisition of 74 market-leading businesses that have expanded scale, density, OEM relationships and customers.
Watsco recently welcomed Jackson Supply Company and The Granite Group to the Watsco family. These legendary companies are expected to bolster annual revenue by approximately 10% and broaden Watsco’s geographic reach, product mix, as well as end-market and customer mix. The Company’s philosophy is to build upon the success and legacies of successful businesses through investments in growth, continuity of leadership and culture, and through Watsco’s equity culture to align and reward long-term growth. As importantly, Jackson Supply and Granite Group expand Watsco’s community of talented leaders and provide future scale benefits to Watsco’s technology platforms. Highlights of the Company’s recent acquisitions include:
Jackson Supply Company, founded in 1972 with annual sales of approximately $230 million, was acquired in June 2026. Jackson is a diversified HVAC distributor providing HVAC equipment, parts and supplies to approximately 5,000 customers from 25 locations in high-growth Sunbelt markets.The Granite Group, founded in 1971 with annual sales of approximately $500 million, was acquired in October 2026. The Granite Group is a large and growing distributor of HVAC and plumbing products serving approximately 11,000 customers from 82 locations in the Northeast. The Granite Group marks the fourth business acquired by Watsco that serves dual-trade HVAC/plumbing contractors (currently 112 locations out of Watsco’s 804 locations offer both HVAC and plumbing products). Watsco’s balance sheet remains solid, enabling incremental investments in growth and the Company’s industry-leading technology platforms. Today, more than 73,000 contractors and technicians engage with the Company digitally, empowering them to integrate Watsco’s innovations into their daily operations. The Company is also introducing AI-driven initiatives to leverage Watsco’s extensive data assets and enrich the customer experience. The Company believes its technology ecosystem offers a durable and widening competitive advantage. Importantly, digitally-enabled customers continue to outperform broader industry and customer metrics, strengthening Watsco’s leadership position in the highly fragmented $74 billion HVAC/R distribution landscape.
Third Quarter Operating Performance
Revenues increased 7% to a record $2.22 billion (4% increase on a same-store basis)Gross profit increased 3% to a record $586 millionGross profit margin of 26.4% (26.5% on a same-store basis) versus 27.5% last yearSG&A increased 8%, including 30 new and acquired locations (5% increase on a same-store basis)Operating income decreased 4% to $225 million (operating margin of 10.1% versus 11.4% last year)Earnings per share decreased 5% to $3.77 Third Quarter Sales Trends (excluding acquisitions)
5% increase in HVAC equipment sales (67% of sales), reflecting a 7% increase in residential products and a 5% decline in commercial products2% increase in sales of other HVAC products (29% of sales)10% increase in commercial refrigeration products (4% of sales) Third quarter sales performance reflects continued stabilization of residential end-markets following the prior year transition to new A2L products. Residential equipment sales grew 7%, including 5% unit growth and a 2% increase in average selling price. Same-store sales growth rates have steadily improved throughout the selling season with further momentum thus far in the fourth quarter. Third quarter sales also reflect $78 million in sales from the acquired locations of Jackson Supply, a 16% increase over the comparable prior-year period.
Third quarter gross margin was impacted by customer mix (larger versus smaller customers), end-market mix (replacement versus residential new construction), the timing and lower magnitude OEM pricing actions in 2026 versus 2025 and the differing growth rate of equipment versus non-equipment products. The Company believes third quarter 2026 gross margin is also more in-line with historical seasonality and year to date gross margin levels are reflective of current market conditions (including more conventional OEM pricing actions). The Company further believes that its ongoing investments in technology, pricing optimization and non-equipment growth are supportive of long-term margin objectives.
Albert H. Nahmad, Chairman and CEO said: “Third quarter results and early fourth quarter sales trends are indicative of continued improvement in end-market demand. We are encouraged to see residential unit volumes return to growth and steadily improve throughout the season. Our technology-enabled customers also continue to outperform the broader contractor community. Looking ahead, Watsco today is a meaningfully larger company, having added 107 locations and $730 million in annualized revenue to our network through the acquisitions of Jackson and Granite. Our long-range objectives for sales, margin and cash flow generation remain fully intact.”
Mr. Nahmad added: “We welcome Jackson Supply and The Granite Group to the Watsco family, both high-performing distributors in their respective markets. Jackson Supply had a terrific quarter as part of Watsco, and we are excited that The Granite Group offers extended opportunities for us to expand into the growing community of HVAC and plumbing contractors. Both are wonderful companies that diversify our product mix, extend our reach and broaden our technology advantage. We look forward to supporting their ambitious growth plans.”
Nine-Month Operating Performance
Revenues increased 3% to $5.86 billionGross profit decreased 1% to $1.59 billion (gross profit margin of 27.2% versus 28.3% last year)SG&A increased 4% (2% increase on a same-store basis)Operating income decreased 7% to $574 million (operating margin of 9.8% versus 10.9% last year)Earnings per share decreased 7% to $9.72Operating cash flow increased 79% to $304 million Year to Date Sales Trends (excluding acquisitions)
2% increase in HVAC equipment sales (67% of sales), reflecting a 4% increase in residential products and a 4% decline in commercial products1% increase in sales of other HVAC products (29% of sales)14% increase in commercial refrigeration products (4% of sales) Cash Flow, Dividends, Financial Strength and Liquidity
Operating cash flow increased 79% to $304 million for the nine-month period ended September 30, 2026 ($325 million during the third quarter versus $355 million last year). Watsco’s objective is to maintain a healthy balance sheet and ample liquidity to fund virtually any strategic investment. The Company’s strong financial position has been key to delivering sustained long-term returns and enabling growth investments regardless of macroeconomic or industry conditions. Watsco’s stated goal is to generate annual operating cash flow in excess of net income.
In April 2026, the Company increased its annual cash dividend by 10% to $13.20 per share. Watsco has paid dividends to shareholders for 52 consecutive years. The Company’s philosophy is to share cash flow through dividends while maintaining a conservative balance sheet with continued capacity to build its distribution network. Future changes in dividends are considered in light of investment opportunities, cash flow, general economic conditions and Watsco’s overall financial condition.
In October 2026, Watsco announced that it signed a five-year $750 million unsecured senior revolving credit facility. The terms of the new agreement include increased borrowing capacity, covenant flexibility and greater sensitivity to the seasonal nature of our working capital requirements.
Innovation and Strategic Technology Initiatives
The Company’s continued investment in technology reflects a long-term strategic commitment to building capabilities that strengthen customer relationships, extend the Company’s competitive advantage, improve operating efficiency and support sustainable growth. Watsco has invested approximately $280 million in its digital platforms over the last five years (a current annual run rate of approximately $64 million). The breadth of those investments spans across customer-engagement and internal platforms to increase the speed and efficiency of our locations and emerging AI capabilities that help customers grow and deliver technical know-how quicker.
Watsco’s HVAC Pro+ Mobile Apps and E-Commerce platform have transformed the customer-experience by providing contractors with a seamless digital experience, including sourcing products, accessing technical help, real-time inventory, pricing, product information and more. These tools empower 24/7 self-service that benefit from advanced analytics, AI, technical knowledge and product recommendations. The result is a frictionless buying experience, increased convenience and higher customer satisfaction, which drives greater loyalty and repeat business with lower costs to serve. E-commerce sales increased 12% during the nine-month period ended September 30, 2026 (10% increase during the third quarter), outpacing overall revenue growth, and reached $2.75 billion for the 12-months ended September 30, 2026 (37% of revenues).OnCallAir® is Watsco’s digital sales platform enabling contractors to engage, present and quote solutions to homeowners. The gross merchandise value (GMV) of products sold through OnCallAir® reached $1.6 billion for the nine-months ended September 30, 2026, a 14% increase over the same period last year. For the 12-months ended September 30, 2026, contractors presented approximately 351,000 quotes and generated $2.0 billion GMV, a 14% increase versus the prior comparable 12-month period.Watsco’s pricing optimization platform has contributed to the Company’s gross margin performance since its launch in 2020. The platform is designed to manage and optimize the vast number of pricing records across our business. Examples include the sophisticated pricing rules and strategies for specific products, across various geographic markets and for a variety of customer segments. This data-driven approach also enables Watsco to react swiftly to changing market conditions and efficiently administer the multitude of vendor cost changes to sustain market pricing and underlying gross margins.Artificial Intelligence (AI) tools are gaining traction to further enhance the customer-experience, drive efficiency and extend our competitive advantage. These tools leverage Watsco’s industry leading data sets around customers, products and vendors that have been curated over the last 15 years. Highlights include: Watsco’s AI platform is anchored by “Ask.Watsco”, an internally focused AI engine designed to enhance productivity, decision-making and customer service. The platform integrates robust HVAC knowledge and streamlines processes for more than 2,700 current internal users. The platform’s rapid adoption and consistent engagement highlight its potential, providing opportunities to achieve efficiency gains and further enhance customer satisfaction at scale.Complementing its internal platform, Watsco has developed “AL.watsco”, a customer-facing AI model that delivers HVAC expertise directly to customers and partners. AL.watsco is trained on Watsco’s extensive pools of data, enabling it to provide accurate, real-time answers and recommendations on a vast array of HVAC products and solutions. The potential is to deliver highly customized, data driven customer service at scale, enhance customer loyalty and engagement and attract new customers to Watsco’s ecosystem. SupplySync is an innovative platform targeting the institutional channel for HVAC/R products. In recent years, large institutional customers have emerged, offering an incremental growth opportunity by further leveraging our market-leading scale, product depth, customer-facing technologies and financial strength. Watsco has launched a pilot program for SupplySync, which offers enterprise-wide solutions to institutional customers designed to deliver a seamless experience across sales, marketing, pricing, product assortment and order management. SupplySync is designed to provide a new level of service and expertise to institutional customers in a single platform across multiple markets and product categories.Initiatives to enhance sales of non-equipment products and enhance gross margins were launched in 2026. The Company estimates that 40% of the products sold in the HVAC/R marketplace represent non-equipment products. For the 12 months ended September 30, 2026, Watsco’s non-equipment purchases were approximately $1.7 billion from more than 1,500 vendors (30% of total purchases). Watsco is leveraging its product and pricing data to optimize and streamline sourcing across its supplier network. The Company is also investing in advanced logistics and distribution capabilities designed to improve inventory service levels, improve attachment rates, drive operating efficiency, enhance margins and increase inventory turns. A.J. Nahmad, Watsco’s President, added: “We believe that the growth in e-commerce, OnCallAir® and overall digital engagement across our network reflects the value these tools deliver to our customers. We have also progressed nicely with the various initiatives introduced at last year’s investor day, including the formal launch of SupplySync and the early scaling of the other initiatives. Our focus remains on advancing these unique capabilities – with AI enabling better and faster speed to market – in ways that help our customers grow.”
Use of Non-GAAP Financial Information and References to “Unit” Data
In this release, the Company discloses non-GAAP measures on a “same-store basis”, which exclude the effects of locations closed, acquired, or locations opened, in each case during the immediately preceding 12 months, unless such locations are within close geographical proximity to existing locations. The Company believes that this information provides greater comparability regarding its ongoing operating performance. These measures should not be considered an alternative to measurements presented in accordance with U.S. GAAP.
In addition, the Company references “unit” data, a key performance measure, in analyzing its results. For purposes of this analysis, a “unit” is a compressor-bearing air conditioning unit or heat pump (also generally referred to as “outdoor units”), a standard industry convention consistent with data published by the Air-Conditioning Heating and Refrigeration Institute (AHRI). More information is available at www.ahri.org.
Third Quarter Earnings Conference Call Information
Date and time: October 27, 2026 at 10:00 a.m. (EDT)
Webcast: http://investors.watsco.com (a replay will be available on the Company’s website)
Dial-in number: United States (844) 883-3908 / International (412) 317-9254
About Watsco
Watsco is the largest distributor in the highly fragmented North American HVAC/R market. Watsco’s solid financial position and culture of innovation has enabled investments in long-term growth, including the Company’s industry-leading technology platforms. Today, more than 73,000 contractors, installers and technicians engage digitally with the Company, resulting in improved growth and lower attrition. The Company is now advancing AI-driven initiatives to leverage its extensive data assets to enhance the customer experience and improve efficiencies. These investments position Watsco to capture market share as contractors increasingly adopt digital tools and incorporate data-driven solutions in their businesses.
This document includes certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may address, among other things, our expected financial and operational results and the related assumptions underlying our expected results. These forward-looking statements are distinguished by use of words such as “will,” “would,” “anticipate,” “expect,” “believe,” “designed,” “plan,” or “intend,” the negative of these terms, and similar references to future periods. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from these expectations due to changes in economic, business, competitive market, new housing starts and completions, capital spending in commercial construction, consumer spending and debt levels, regulatory and other factors, including, without limitation, the effects of supplier concentration, competitive conditions within Watsco’s industry, the seasonal nature of sales of Watsco’s products, the ability of the Company to expand its business, insurance coverage risks and final GAAP adjustments. Detailed information about these factors and additional important factors can be found in the documents that Watsco files with the Securities and Exchange Commission, such as Form 10-K, Form 10-Q and Form 8-K. Forward-looking statements speak only as of the date the statements were made. Watsco assumes no obligation to update forward-looking information to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information, except as required by applicable law.
WATSCO, INC.Condensed Consolidated Results of Operations
(In thousands, except share and per share data)
(Unaudited)
Quarters Ended September 30, Nine Months Ended September 30, 2026
2025
2026
2025
Revenues $2,220,358 $2,067,005 $5,858,227 $5,660,533 Cost of sales 1,634,071 1,498,090 4,265,456 4,058,507 Gross profit 586,287 568,915 1,592,771 1,602,026 Gross profit margin 26.4% 27.5% 27.2% 28.3% Selling, general and administrative expenses 370,746 343,655 1,042,583 1,005,237 Other income 9,667 9,502 23,576 22,030 Operating income 225,208 234,762 573,764 618,819 Operating margin 10.1% 11.4% 9.8% 10.9% Interest income, net 4,596 3,733 14,552 11,479 Income before income taxes 229,804 238,495 588,316 630,298 Income taxes 46,961 49,265 121,230 129,760 Net income 182,843 189,230 467,086 500,538 Less: net income attributable to non-controlling interest 27,474 27,655 69,307 75,289 Net income attributable to Watsco, Inc. $155,369 $161,575 $397,779 $425,249 Diluted earnings per share: Net income attributable to Watsco, Inc. shareholders $155,369 $161,575 $397,779 $425,249 Less: distributed and undistributed earnings allocated to restricted common stock 10,197 10,703 26,166 28,109 Earnings allocated to Watsco, Inc. shareholders $145,172 $150,872 $371,613 $397,140 Weighted-average Common and Class B common shares and equivalent shares used to calculate diluted earnings per share 38,558,158 37,918,392 38,240,651 37,890,597 Diluted earnings per share for Common and Class B common stock $3.77 $3.98 $9.72 $10.48 WATSCO, INC.
Condensed Consolidated Balance Sheets
(Unaudited, in thousands)
September 30,
2026 December 31,
2025
Cash and cash equivalents$498,698 $433,283 Short-term cash investments 150,000 300,000 Accounts receivable, net 1,008,554 796,181 Inventories, net 1,841,814 1,386,317 Other current assets 51,895 38,725 Total current assets 3,550,961 2,954,506 Property and equipment, net 148,709 136,012 Operating lease right-of-use assets 533,536 452,547 Goodwill, intangibles, net and other 1,000,606 871,740 Total assets$5,233,812 $4,414,805 Accounts payable and accrued expenses$1,002,091 $600,589 Current portion of lease liabilities 124,449 117,153 Total current liabilities 1,126,540 717,742 Operating lease liabilities, net of current portion 429,269 350,616 Deferred income taxes and other liabilities 142,522 124,386 Total liabilities 1,698,331 1,192,744 Watsco, Inc. shareholders' equity 3,029,082 2,781,376 Non-controlling interest 506,399 440,685 Total shareholders' equity 3,535,481 3,222,061 Total liabilities and shareholders' equity$5,233,812 $4,414,805 WATSCO, INC.Condensed Consolidated Statements of Cash Flows(Unaudited, in thousands) Nine Months Ended September 30, 2026 2025 Cash flows from operating activities: Net income$467,086 $500,538 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 33,973 32,680 Non-cash contribution to 401(k) plan 9,267 8,743 Share-based compensation 25,826 26,683 Provision for doubtful accounts 5,274 2,550 Other income from investment in unconsolidated entity (23,576) (22,030) Other, net 5,270 5,639 Changes in operating assets and liabilities, net of effects of acquisitions: Accounts receivable, net (195,892) (60,234) Inventories, net (396,782) (204,479) Accounts payable and other liabilities 382,700 (108,318) Other, net (9,487) (11,925) Net cash provided by operating activities 303,659 169,847 Cash flows from investing activities: Net proceeds from short-term cash investments 150,000 55,669 Business acquisitions, net of cash acquired 7,663 (19,303) Capital expenditures, net (25,616) (22,887) Net cash provided by investing activities 132,047 13,479 Cash flows from financing activities: Dividends on common stock (392,013) (352,085) Distributions to non-controlling interest - (69,829) Proceeds from dividend reinvestment plan 11,388 21,661 Other, net 11,865 12,450 Net cash used in financing activities (368,760) (387,803) Effect of foreign exchange rate changes on cash and cash equivalents (1,531) 2,554 Net increase (decrease) in cash and cash equivalents 65,415 (201,923) Cash and cash equivalents at beginning of period 433,283 526,271 Cash and cash equivalents at end of period$498,698 $324,348
Barry S. Logan
Executive Vice President
(305) 714-4102
e-mail: [email protected]
EQT se dohodla na akvizici společnosti Range Resources v transakci výhradně za akcie v hodnotě přibližně 13 miliard USD. Vznikne tak největší producent zemního plynu v USA s hodnotou kolem 50 miliard USD.
EQT Corporation (NYSE:EQT – Get Free Report) shares crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $55.42 and traded as low as $52.29. EQT shares last traded at $54.8610, with a volume of 27,250,177 shares.
EQT News Roundup Here are the key news stories impacting EQT this week:
Positive Sentiment: EQT agreed to acquire Range Resources in an all-stock transaction valued at approximately $13 billion, creating a combined company with an estimated value of about $50 billion and making EQT the largest U.S. natural-gas producer. The enlarged scale could improve operating efficiency, strengthen marketing leverage and expand exposure to rising gas demand from data centers, LNG exports and power generation. EQT Agrees to Acquire Range Resources in All-Stock Transaction Positive Sentiment: Management says the combination should lower EQT’s free-cash-flow breakeven to below $2 per million British thermal units, potentially improving resilience if natural-gas prices remain volatile. The deal is being positioned as a way to capitalize on record U.S. gas demand and AI-related electricity consumption. EQT Is Building a $50 Billion Natural Gas Giant as AI Power Demand Surges Neutral Sentiment: Range Resources shares rose sharply following the announcement, indicating that the market views the takeover consideration favorably for Range holders. However, the initial reaction for EQT shareholders has been more cautious, suggesting investors are assessing how the benefits will be shared after the merger. Range Resources Soars on EQT’s All-Stock Takeover Negative Sentiment: Because the transaction is all-stock, EQT shareholders will face dilution and must wait for projected synergies and cost savings to materialize. The size of the acquisition also introduces integration, regulatory and commodity-price risks, which may explain the stock’s weaker reaction despite the company’s stronger strategic position. EQT to Buy Range Resources in Natural Gas Megadeal Analysts Set New Price Targets Several analysts recently issued reports on the company. Zacks Research upgraded EQT from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 27th. Freedom Capital upgraded shares of EQT to a “strong-buy” rating in a research report on Tuesday, June 30th. Mizuho dropped their price objective on EQT from $72.00 to $68.00 and set an “outperform” rating for the company in a report on Thursday, October 15th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of EQT in a research report on Tuesday, October 20th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of EQT in a research note on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, EQT has an average rating of “Moderate Buy” and a consensus target price of $67.64.
Get Our Latest Stock Report on EQT EQT Stock Performance The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $34.32 billion, a PE ratio of 12.73 and a beta of 0.66. The firm has a 50-day moving average of $53.02 and a two-hundred day moving average of $55.42.
EQT Increases Dividend The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Wednesday, November 4th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, November 4th. This is an increase from EQT’s previous quarterly dividend of $0.1650. EQT’s dividend payout ratio is currently 15.31%.
Insider Transactions at EQT In other EQT news, CEO Toby Rice sold 175,328 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $55.03, for a total value of $9,648,299.84. Following the sale, the chief executive officer directly owned 2,157,865 shares of the company’s stock, valued at approximately $118,747,310.95. This trade represents a 7.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.72% of the company’s stock.
Institutional Inflows and Outflows Hedge funds have recently modified their holdings of the stock. Independence Bank of Kentucky raised its holdings in EQT by 1.7% in the 3rd quarter. Independence Bank of Kentucky now owns 21,083 shares of the oil and gas producer’s stock valued at $1,024,000 after acquiring an additional 356 shares during the last quarter. Park Avenue Securities LLC boosted its stake in shares of EQT by 77.7% in the third quarter. Park Avenue Securities LLC now owns 35,945 shares of the oil and gas producer’s stock valued at $1,746,000 after purchasing an additional 15,720 shares during the period. Sunesis Advisors LLC purchased a new position in EQT in the third quarter valued at $211,000. Blume Capital Management Inc. increased its stake in shares of EQT by 62.9% during the third quarter. Blume Capital Management Inc. now owns 27,668 shares of the oil and gas producer’s stock worth $1,344,000 after buying an additional 10,683 shares during the period. Finally, Corecam Pte. Ltd. lifted its position in shares of EQT by 7.3% during the 3rd quarter. Corecam Pte. Ltd. now owns 6,870 shares of the oil and gas producer’s stock worth $334,000 after purchasing an additional 470 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.
EQT Company Profile (Get Free Report)
EQT Corporation is a natural gas exploration and production company headquartered in Pittsburgh, Pennsylvania. The company develops and operates unconventional oil and gas properties, with a primary focus on natural gas and natural gas liquids produced from shale formations.
EQT’s operations are concentrated in the Appalachian Basin, particularly the Marcellus and Utica shale formations in Pennsylvania, West Virginia and Ohio. Its activities include drilling, completion, production and management of natural gas wells, along with related gathering and infrastructure operations that support the transportation of its products to market.
The company traces its roots to Equitable Gas, founded in 1878, and has evolved through multiple stages of expansion and restructuring in the U.S.
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Centene (CNC - Free Report) came out with quarterly earnings of $0.58 per share, beating the Zacks Consensus Estimate of $0.07 per share. This compares to earnings of $0.5 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +728.57%. A quarter ago, it was expected that this healthcare company would post earnings of $0.89 per share when it actually produced earnings of $2.51, delivering a surprise of +182.02%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Centene, which belongs to the Zacks Medical - HMOs industry, posted revenues of $50.65 billion for the quarter ended September 2026, surpassing the Zacks Consensus Estimate by 7.63%. This compares to year-ago revenues of $49.69 billion. 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.
Centene shares have added about 65.3% since the beginning of the year versus the S&P 500's gain of 12.1%.
What's Next for Centene?While Centene 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 Centene 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 -$1.09 on $46.17 billion in revenues for the coming quarter and $4.89 on $196.29 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - HMOs is currently in the top 13% 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, Cigna (CI - Free Report) , has yet to report results for the quarter ended September 2026. The results are expected to be released on November 5.
This health insurer is expected to post quarterly earnings of $7.46 per share in its upcoming report, which represents a year-over-year change of -4.7%. The consensus EPS estimate for the quarter has been revised 0.1% higher over the last 30 days to the current level.
Cigna's revenues are expected to be $73.53 billion, up 5.7% from the year-ago quarter.
Výsledky Boeingu za třetí čtvrtletí naznačují, že nejhorší období má výrobce letadel pravděpodobně za sebou. Výrazné meziroční zlepšení hospodaření podpořily nové obranné zakázky, vyšší dodávky letadel a úspěchy v certifikaci modelů 737 MAX. Společnost však stále zůstává ve ztrátě a její komerční divize zatím nedokáže plně kompenzovat dopady předchozích krizí.
Americký výrobce letadel Boeing ve třetím čtvrtletí snížil čistou ztrátu na 116 milionů dolarů (zhruba 2,53 miliardy Kč) z 5,3 miliardy dolarů před rokem. Tržby vzrostly o čtyři procenta na 24,2 miliardy dolarů, oznámila dnes firma ve zprávě o hospodaření.
Loňské třetí čtvrtletí negativně ovlivnil odpis u programu letounu 777X. Provozní zisk v letošním třetím čtvrtletí činil 354 milionů dolarů, zatímco před rokem firma skončila s provozní ztrátou 4,8 miliardy dolarů.
"Mezi nedávné milníky patří certifikace modelů 737-7 a 737-10 a výběr k návrhu a výrobě stíhacího letounu šesté generace pro americké námořnictvo. Jsou to důležité kroky na naší cestě," uvedl šéf podniku Kelly Ortberg.
"Ještě jsme ale neskončili. Nadále se zaměřujeme na bezpečnost a kvalitu a zvyšujeme úsilí v oblasti štíhlé výroby a disciplinovaného řízení, abychom dostáli svým závazkům a dosáhli trvale dobrých výsledků, jaké od nás zainteresované strany očekávají," dodal.
Základní ztráta na akcii ve třetím čtvrtletí klesla na 34 centů ze 7,47 dolaru před rokem. Byla tak vyšší, než očekávali analytici. Ti podle průzkumu společnosti LSEG v průměru předpokládali ztrátu 21 centů na akcii.
Tržby divize komerčních tryskových letadel ve třetím čtvrtletí klesly o tři procenta na 10,7 miliardy dolarů. Divize dodala zákazníkům 161 letadel, tedy o jedno procento více než před rokem. Její provozní ztráta se výrazně snížila na 697 milionů dolarů z 5,4 miliardy před rokem.
Zbrojní a vesmírná divize zvýšila tržby o 15 procent na 7,9 miliardy dolarů a její provozní zisk vzrostl na 492 milionů dolarů ze 114 milionů, přičemž pomohl i zisk 252 milionů dolarů z prodeje společnosti HRL Laboratories.
Boeing měl problémy od dvou tragických havárií, které se týkaly jeho letadel 737 MAX a při kterých v letech 2018 a 2019 zahynulo dohromady 346 lidí. Letadla 737 MAX byla pak v důsledku nehod dočasně odstavena z provozu. Za nehodami byly problémy s asistenčním softwarem MCAS. Ten měl pilotům pomáhat stroj ovládat, místo toho je ale překvapil nečekaným a nepředvídatelným zásahem do řízení.
Boeing následně upravil software řídicího systému a po více než roce získal první povolení pro opětovné uvedení do provozu. V některých částech světa čekal na povolení déle. Americký soud loni v listopadu schválil dohodu vlády Spojených států s Boeingem, podle níž se podnik v případě těchto dvou nehod vyhne trestnímu stíhání. Součástí dohody v celkové výši přes 1,1 miliardy dolarů bylo i odškodné.
GXO otevřela strategické logistické centrum v Medini v Malajsii, ve zvláštní ekonomické zóně Johor–Singapore, aby rozšířila své působení v asijsko-pacifickém regionu.
Located in the Johor-Singapore Special Economic Zone, the Medini site expands GXO’s presence in Asia Pacific and provides enhanced flexibility across regional supply chains
GREENWICH, Conn., Oct. 27, 2026 (GLOBE NEWSWIRE) -- GXO Logistics, Inc. (NYSE: GXO), the world's largest pure-play contract logistics provider, today announced the opening of a new, state-of-the-art strategic logistics hub in Medini, Malaysia, further expanding its footprint in Asia Pacific and reinforcing the company's commitment to one of its fastest-growing regions.
Located within the Johor-Singapore Special Economic Zone (SEZ), the new site offers the benefits of a Free Trade Zone (FTZ) alongside access to one of Southeast Asia’s most strategically positioned logistics corridors. Direct connectivity to major manufacturing centers, ports and airports enables companies to optimize inventory positioning, strengthen supply chain resilience and reduce operating costs.
"Asia Pacific continues to be one of the most dynamic growth markets for GXO," said Michael Jacobs, Chief Executive Officer of the Americas and Asia Pacific, GXO. "The opening of our Medini facility reflects our commitment to bringing world-class logistics solutions to high-growth markets. From its strategic location within the Johor-Singapore Special Economic Zone, the site will offer customers greater flexibility, resilience and speed while connecting them with some of the region’s most important manufacturing, technology and trade hubs.”
The Medini facility is designed to support customers across technology and advanced industrial sectors and currently serves as the regional hub for a leading global supplier of semiconductor manufacturing equipment.
GXO is evaluating additional capabilities for the site, including emerging warehouse technologies, that could further enhance supply chain visibility and strengthen collaboration with customers.
"As technology and advanced manufacturing continue to expand in Asia Pacific, companies are increasingly looking for ways to position inventory closer to regional demand," said Scott Copeland, Managing Director, Asia Pacific, GXO. "With access to Singapore and southern Malaysia's key ports and manufacturing hubs, our new Medini site gives customers a strategic base to scale efficiently and serve both regional and global markets."
About GXO
GXO Logistics, Inc. (NYSE: GXO) is the world’s largest pure-play contract logistics provider and is positioned to capitalize on the rapid growth of ecommerce, automation and outsourcing. GXO has over 150,000 team members across more than 1,000 facilities, totaling more than 200 million square feet. The company serves the world’s leading blue-chip companies to solve complex logistics challenges with technologically advanced supply chain and ecommerce solutions, at scale and with speed. GXO corporate headquarters is in Greenwich, Connecticut. Visit GXO.com for more information and connect with GXO on LinkedIn, X, Facebook, Instagram and YouTube.
Společnost Microchip potvrdila, že radiačně odolný procesor PIC64-HPSC1000-RH odolá celkové dávce záření 200 krad(Si), a úspěšně jej otestovala na SEL až do 78,2 MeV·cm²/mg.
CHANDLER, Ariz., Oct. 27, 2026 (GLOBE NEWSWIRE) -- As civil, commercial, scientific and defense spacecraft become more autonomous, software-defined and data intensive, mission developers need substantially greater onboard processing capability, combined with the resilience, security and reliability required for demanding space environments. Microchip Technology (Nasdaq: MCHP) today announces several important milestones for its PIC64-HPSC High-Performance Spaceflight Computing Series, a 64-bit multicore RISC-V computing platform designed specifically for spacecraft, satellites and other mission-critical space systems.
Early radiation characterization of the PIC64-HPSC1000-RH radiation-hardened variant has demonstrated Total Ionizing Dose (TID) performance to 200 krad(Si) and successful Single Event Latch-up (SEL) testing to 78.2 MeV·cm²/mg under specified operating conditions. Early testing also demonstrated robust system-controller operation during Single Event Effects (SEE) characterization, with no uncorrected errors or external resets required during the testing completed to date. These results provide developers with tangible evidence of the platform’s progress toward meeting radiation-tolerance requirements, helping enable future spaceflight systems from Low Earth Orbit to the Moon, Mars and beyond.
“Our vision for PIC64-HPSC was to develop a modern, high-performance computing platform capable of enabling the next generation of civil, commercial, scientific and defense space systems,” said Kevin So, vice president of Microchip’s communications business unit. “The combination of operational silicon, radiation-characterization results and customer evaluation activity demonstrates continued execution against that vision and marks an important step in the maturation of the platform.”
Through the PIC64-HPSC Early Access Program, participating customers have been evaluating silicon and development kits, and beginning application development with supporting software, tools, technical resources and direct engineering assistance from Microchip. A growing ecosystem of board partners is also developing PIC64-HPSC-based VPX and VNX+ computing platforms, providing additional paths for system developers to integrate the processor into future space systems. The Early Access Program can help space-system developers reduce program risk and advance application development.
Initial silicon performance measurements are in line with program objectives, providing a foundation for increasingly compute-intensive workloads such as onboard autonomy, high-performance payload processing, Earth observation and intelligence, secure communications, spacecraft control, scientific exploration and edge AI. By processing more sensor and mission data onboard, future spacecraft can reduce dependence on communications bandwidth, shorten decision-making latency and respond more rapidly to changing mission conditions. The importance of advanced onboard processing is also reflected in NASA’s FY26 Civil Space Shortfall Prioritization, which ranked advanced onboard computing for space operations as the third-highest civil space technology shortfall.
PIC64-HPSC is designed as a scalable computing foundation for a broad range of next-generation space systems. Its 64-bit multicore RISC-V architecture supports the industry’s move toward more open and scalable models for onboard autonomy, software-defined spacecraft, distributed processing, deterministic communications and heterogeneous computing.
PIC64-HPSC originated from NASA and JPL’s assessment of future spaceflight computing requirements and awarded the HPSC contract to Microchip in 2022. Today, operational silicon, customer evaluations and early radiation-characterization achievements reflect the program's progress to date.
The HPSC program helped establish the foundation for Microchip’s 64-bit computing portfolio, which the company has since expanded its portfolio of PIC64 MPUs addressing performance requirements across a broad range of markets.
Pricing and Availability
PIC64-HPSC evaluation and development kits are available to select customers, providing access to silicon, development platforms, software, tools and Microchip engineering support. To inquire about availability, contact a Microchip sales representative.
Resources
High-res images available through Flickr or editorial contact (feel free to publish):
• Application image: www.flickr.com/photos/microchiptechnology/55590867877/sizes/l
About Microchip Technology:
Microchip Technology Inc. is a broadline supplier of semiconductors committed to making innovative design easier through total system solutions that address critical challenges at the intersection of emerging technologies and durable end markets. Its easy-to-use development tools and comprehensive product portfolio supports customers throughout the design process, from concept to completion. Headquartered in Chandler, Arizona, Microchip offers outstanding technical support and delivers solutions across the industrial, automotive, consumer, aerospace and defense, communications and computing markets. For more information, visit the Microchip website at www.microchip.com.
Note: The Microchip name and logo and the Microchip logo are registered trademarks of Microchip Technology Incorporated in the U.S.A. and other countries. All other trademarks mentioned herein are the property of their respective companies.
TransMedics vybaví všech 22 letounů Embraer Phenom 300E systémem Gogo Galileo HDX, který umožní nepřetržité monitorování přepravovaných orgánů během letu; dokončení se očekává do roku 2027.
BROOMFIELD, Colo., Oct. 27, 2026 (GLOBE NEWSWIRE) -- Gogo (NASDAQ: GOGO) today announced that TransMedics, the global leader in organ transplantation technology, services and logistics, has selected Gogo Galileo to equip its growing fleet of 22 Embraer Phenom 300E aircraft operating across the United States.
The aircraft play a critical role in transporting donor organs for transplantation. During each mission, organs are continuously monitored in flight using TransMedics' Organ Care System (OCS), making reliable, high-performance and high-speed inflight connectivity an essential part of the company's operations. The Gogo Galileo HDX is now being installed on all TransMedics’ aircraft and the full fleet is expected to be equipped by 2027.
"Every flight we operate carries the potential to save a life, which makes continuous, real-time visibility into each organ’s status during transport mission-critical," says Andre Costa, VP of Global Logistics at TransMedics. "We are proud to pioneer this initiative. By mid-2027, Gogo Galileo will be operating across our entire fleet, making TransMedics the first and only organ transplant company to achieve this milestone, and we plan to extend this capability to our European fleet in 2028. We selected Gogo Galileo not only for the reliable, high-performance connectivity these critical missions demand, but also for the cybersecurity, system redundancy, and active monitoring that Gogo delivers to its customers."
Powered by Eutelsat OneWeb's enterprise-grade low Earth orbit (LEO) network, Gogo Galileo delivers global, high-speed, low-latency connectivity for business aviation. The Galileo HDX electronically steered antenna (ESA) provides a compact, lightweight and low-power solution capable of supporting multiple simultaneous applications, including cloud-based monitoring, video communications and operational data exchange.
"Business aviation supports far more than executive travel: it enables critical missions that communities rely on every day," says Chris Moore, Chief Executive Officer for Gogo. "TransMedics is a powerful example of that. When you're transporting donor organs, connectivity isn't a convenience; it's part of the mission. We're proud that Gogo Galileo will help provide the resilient, high-performance connectivity their flight crews and medical teams depend on to support lifesaving work while giving them peace of mind that their data is secure."
As the TransMedics fleet enters service with Gogo Galileo HDX, the operator will also benefit from Gogo's comprehensive suite of value-added services, including advanced cybersecurity protections, 24/7/365 multilingual customer support and future-ready technology designed to evolve alongside operational requirements.
Photo caption: TransMedics has selected Gogo Galileo to provide reliable, high-performance connectivity across its fleet of 22 Embraer Phenom 300E aircraft supporting time-critical organ transport missions.
About Gogo
Gogo has been the trusted connectivity infrastructure partner for business aviation and military/government for three decades. Rather than promoting a single network or technology, Gogo helps customers navigate an increasingly complex connectivity landscape by combining deep market knowledge, global aviation expertise and expert guidance to identify, integrate and support the connectivity solution best suited to their aircraft, mission and operational requirements.
Providing access to a complete network neutral connectivity ecosystem including onboard hardware, software, air-to-ground and multi-orbit, multi-band satellite connectivity, service plans, and 24/7/365 multilingual customer support, Gogo delivers customers the flexibility, choice and long-term partnership they need through a single trusted provider. Dedicated to its customer-first philosophy, the company combines long-standing customer relationships with a commitment to cybersecurity, data privacy, flexible financing, predictable long-term pricing, and future-proofed technology to help customers invest with confidence.
From light business aircraft to executive airliners and specialized government platforms, Gogo delivers secure, reliable connectivity that enables customers to fly, work and connect with confidence.
Certain disclosures in this press release and related comments by our management include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements regarding our business outlook, industry, business strategy, plans, goals and expectations concerning our market position, international expansion, future technologies, future operations, margins, profitability, future efficiencies, capital expenditures, liquidity and capital resources and other financial and operating information. When used in this discussion, the words “anticipate,” “assume,” “believe,” “budget,” “continue,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “will,” “future” and the negative of these or similar terms and phrases are intended to identify forward-looking statements in this press release. Forward-looking statements are based on our current expectations regarding future events, results or outcomes. These expectations may or may not be realized. Although we believe the expectations reflected in the forward-looking statements are reasonable, we can give you no assurance these expectations will prove to have been correct. Some of these expectations may be based upon assumptions, data or judgments that prove to be incorrect. Actual events, results and outcomes may differ materially from our expectations due to a variety of known and unknown risks, uncertainties and other factors. Although it is not possible to identify all of these risks and factors, they include, among others, the following: our ability to continue to generate revenue from the provision of our connectivity and other service offerings; our development and fixed-price contracts; our reliance on our key OEMs and dealers for equipment sales; our dependence on single-source, third party satellite network providers; the impact of competition; our ability to maintain high-quality customer support; our reliance on third parties for equipment components and services; our participation in U.S. government contracts; our participation in non-U.S. government contracts; the finite useful life of satellites; the impact of global supply chain and logistics issues, tariffs and inflationary trends; the continued expansion of our business outside of the United States; foreign currency risk; our ability to recruit, train and retain highly skilled employees, and the loss of any key personnel; the impact of pandemics or other outbreaks of contagious diseases, and the measures implemented to combat them; the impact of adverse economic conditions; our ability to fully utilize portions of our deferred tax assets; the impact of attention to climate change, conservation measures and other sustainability-related matters; our ability to evaluate or pursue strategic opportunities; our ability to integrate Satcom Direct’s business, and the potential failure to realize or delay in realizing all of the anticipated benefits of the acquisition; the changes in executive management that occurred as part of the Satcom Direct acquisition; our ability to develop and deploy Gogo 5G, Gogo Galileo or other next generation technologies; our ability to maintain our rights to use our licensed 4Mhz of ATG spectrum in the United States and obtain rights to additional spectrum if needed; the impact of service interruptions or delays, cyberattacks, technology failures, equipment damage or system disruptions or failures; the impact of assertions by third parties of infringement, misappropriation or other violations; our ability to innovate and provide products and services; our ability to protect our intellectual property rights; risks associated with the use of artificial intelligence in our products and services; the impact of our use of open-source software; the impact of equipment failure or material defects or errors in our software; our ability to comply with applicable foreign ownership limitations; the impact of government regulation of communication networks, and the internet; the ongoing partial government shutdown; our possession and use of personal information; risks associated with participation in the FCC Reimbursement Program; our ability to comply with anti-bribery, anti-corruption and anti-money laundering laws; the extent of expenses, liabilities or business disruptions resulting from litigation; the impact of global climate change and legal, regulatory or market responses to it; the impact of the distribution of income among various jurisdictions in which we operate as well as changes in tax law or regulation on our U.S. and non-U.S. tax liabilities; the impact of changes in laws and regulations on U.S. government contractors; the impact of our substantial indebtedness; our ability to obtain additional financing to refinance or repay our existing indebtedness the impact of restrictions and limitations in the agreements and instruments governing our debt; the impact of an increase in interest rates; the impact of a substantial portion of our indebtedness being secured by substantially all of our assets; the impact of a substantial change in rating assigned by a rating agency; the volatility of our stock price; our ability to fully utilize our tax losses; the dilutive impact of future stock issuances; the impact of our stockholder concentration; our ability to fulfill the obligations of being a public company; the impact of an identified material weakness in our internal controls; the impact of certain provisions of our charter, bylaws, and Delaware law; and other factors listed under the caption “Risk Factors” in our annual report on Form 10-K for the year ended December 31, 2025 as filed with the Securities and Exchange Commission (“SEC”) on February 27, 2026 and in our subsequent quarterly reports on Form 10-Q as filed with the SEC.
Any one of these factors or a combination of these factors could materially affect our financial condition or future results of operations and could influence whether any forward-looking statements contained in this report ultimately prove to be accurate. Our forward-looking statements are not guarantees of future performance, and you should not place undue reliance on them. All forward-looking statements speak only as of the date made and we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/97035efa-0455-4da2-83d1-934c91d766f2
Invesco Announces Third Quarter Diluted EPS of $0.65; Adjusted Diluted EPS (1) of $0.72
, /PRNewswire/ -- Invesco Ltd. (NYSE: IVZ) today reported financial results for the three months ended September 30, 2026.
$35.1 billion of net long-term inflows for the quarter, primarily driven by ETFs and Index, QQQ, Multi-Asset/Other and China JV, with ending AUM of $2.5 trillion23.3% operating margin in Q3 2026; 40.7% adjusted operating margin - an increase of 340 basis points and 320 basis points, respectively, from the prior quarter (1) Continued balance sheet strength - reduced net debt by $393 million during the quarter and increased common share buybacks to $65 million or 2.1 million shares (2)Repurchased $1.5 billion of the company's outstanding Series A Preferred Stock held by MassMutual on October 26, 2026, funded through a $1.5 billion five-year floating-rate bank term loanUpdate from Andrew Schlossberg, President and CEO
"We continue to execute against our strategic priorities and leverage our advantageous global market position to deliver for clients and shareholders. We generated 6% annualized organic growth, driven by $35 billion of net long-term inflows, alongside $47 billion of global liquidity net inflows. This marks our 13th consecutive quarter of net long-term inflows. On a sequential basis, net revenue increased 4% and operating expenses declined 1%, driving operating income growth of 13% and expanding operating margin by more than three percentage points to 40.7%.(1) Strong operating performance is enhancing our financial flexibility and supporting continued progress in strengthening the balance sheet. We have repurchased an additional $1.5 billion of the preferred stock held by MassMutual, bringing total repurchases to $3 billion over the past 18 months and leaving $1 billion outstanding. This ultimately enables reduced leverage, increases our balance sheet flexibility, and enhances earnings available to common shareholders. Our increasingly scaled platform and the exceptional talent across the organization are delivering profitable growth and supporting long-term value creation for clients and shareholders."
(1)
Includes non-GAAP financial measure. See the information on pages 8 through 11 for a reconciliation to the most directly comparable U.S. GAAP measure.
(2)
Net debt: Debt less Cash and cash equivalents
Net Flows:
Net long-term inflows were $35.1 billion for the third quarter of 2026 as compared to $45.1 billion in the second quarter.
Retail net long-term inflows were $41.7 billion while Institutional net long-term outflows were $6.6 billion. Net long-term flows by investment capability include net long-term inflows from ETFs and Index of $28.5 billion, QQQ of $6.7 billion, Multi-Asset/Other of $3.3 billion, and China JV of $1.5 billion, partially offset by net long-term outflows from Fundamental Fixed Income of $2.6 billion, Fundamental Equities of $1.9 billion and Private Markets of $0.4 billion. On a geographic basis, the EMEA, Americas, and Asia Pacific regions achieved net long-term inflows of $15.9 billion, $10.3 billion, and $8.9 billion, respectively.
Net market losses decreased AUM in the third quarter by $26.4 billion and foreign exchange rate movements increased AUM by $4.5 billion. We had inflows of $52.9 billion from money market funds during the quarter. Ending AUM increased 2.7% while average AUM increased 6.0% during the third quarter.
Summary of net flows (in billions)
Q3-26
Q2-26
Q3-25
Long-term inflows
$ 181.1
$ 202.1
$ 138.4
Long-term outflows
(146.0)
(157.0)
(109.5)
Net long-term flows (1)
35.1
45.1
28.9
Non-management fee earning AUM (1)
0.5
0.7
2.6
Money market
52.9
16.9
(5.4)
Total net flows
$ 88.5
$ 62.7
$ 26.1
Annualized long-term organic growth rate (2)
6.3 %
8.5 %
7.9 %
(1)
Non-management fee earning flows include QQQ's flows prior to its restructuring from an UIT to an open-end fund ETF on December 20, 2025. Net long-term flows include QQQ's flows beginning on December 20, 2025.
(2)
Annualized long-term organic growth rate is calculated using net long-term flows (annualized) divided by average long-term AUM for the period. Long-term AUM excludes money market and non-management fee earning AUM.
Third Quarter Highlights:
Financial Results
Q3-26
Q2-26
Q3-26 vs.
Q2-26
Q3-25
Q3-26 vs.
Q3-25
U.S. GAAP Financial Measures
Operating revenues
$1,873.2m
$1,825.6m
2.6 %
$1,640.4m
14.2 %
Operating income
$436.5m
$364.2m
19.9 %
$270.9m
61.1 %
Operating margin
23.3 %
19.9 %
16.5 %
Net income attributable to Invesco Ltd.
$294.5m
$345.3m
(14.7 %)
$301.3m
(2.3 %)
Diluted EPS
$0.65
$0.76
(14.5 %)
$0.66
(1.5 %)
Adjusted Financial Measures (1)
Net revenues
$1,381.7m
$1,329.1m
4.0 %
$1,186.3m
16.5 %
Adjusted operating income
$562.3m
$498.7m
12.8 %
$406.1m
38.5 %
Adjusted operating margin
40.7 %
37.5 %
34.2 %
Adjusted net income attributable to Invesco Ltd.
$326.4m
$322.3m
1.3 %
$275.4m
18.5 %
Adjusted diluted EPS
$0.72
$0.71
1.4 %
$0.61
18.0 %
Assets Under Management
Ending AUM
$2,537.8bn
$2,470.3bn
2.7 %
$2,124.8bn
19.4 %
Average AUM
$2,510.2bn
$2,368.8bn
6.0 %
$2,060.4bn
21.8 %
Headcount
7,416
7,405
0.1 %
8,368
(11.4 %)
(1)
Represents non-GAAP financial measure. See the information on pages 8 through 11 for a reconciliation to the most directly comparable U.S. GAAP measure.
U.S. GAAP Operating Results:
Third Quarter 2026 compared to Second Quarter 2026
Operating revenues and expenses: Operating revenues increased $47.6 million in the third quarter of 2026 compared to the second quarter. Investment management fees increased $50.4 million, primarily driven by higher average AUM, partially offset by a reduction in revenue due to the sale of the management agreements associated with Invesco's Canadian fund business to CI Global Asset Management ("Sale of the Canadian Management Agreements") in the second quarter of 2026. Service and distribution fees increased $3.3 million. Performance fees decreased $1.7 million to $2.0 million. Other revenues decreased $4.4 million as a result of lower real estate transaction fees.
Operating expenses decreased $24.7 million in the third quarter of 2026 compared to the second quarter. Third-party distribution, service and advisory costs increased $16.6 million primarily due to higher average AUM which was partially offset by a reduction in expense following the Sale of the Canadian Management Agreements. Employee compensation expenses decreased $52.9 million, primarily reflecting lower deferred compensation expense, driven by a $43.7 million decrease in the mark-to-market adjustment on deferred compensation liabilities and a $9.7 million decrease related to the timing of expense recognition for retirement-eligible employees. General and administrative expenses increased $15.9 million, primarily due to a net benefit of $11.7 million recorded in the second quarter of 2026 arising from the Sale of the Canadian Management Agreements and the restructuring of the company's Canadian operations.
Non-operating income and expenses: Equity in earnings of unconsolidated affiliates was $42.6 million, earned primarily from our China joint venture and private markets investments. Interest and dividend income was $9.8 million earned from cash and cash equivalents and seed capital investments. Other gains/(losses) were a net loss of $34.2 million, primarily driven by market value changes in deferred compensation and other investments. Other income/(expense) of consolidated investment products (CIP) was income of $29.5 million, primarily driven by net interest income which was partially offset by market losses on the underlying investments held by the funds.
The effective tax rate was 23.3% in the third quarter of 2026 as compared to 25.6% in the second quarter of 2026. The decrease was primarily due to the favorable impact of net income attributable to non-controlling interests in consolidated entities recognized during the third quarter of 2026, which was partially offset by the favorable discrete tax benefit recognized in the second quarter of 2026 related to the gain on the Sale of the Canadian Management Agreements.
Diluted earnings per common share: Diluted earnings per common share was $0.65 for the third quarter of 2026.
Third Quarter 2026 compared to Third Quarter 2025
Operating revenues and expenses: Operating revenues increased $232.8 million in the third quarter of 2026 compared to the third quarter of 2025. Investment management fees increased $327.5 million, primarily driven by management fees for QQQ following its conversion to an open-end fund ETF in the fourth quarter of 2025 and higher average AUM. Service and distribution fees decreased $87.5 million primarily due to the elimination of QQQ's pass-through service revenues after its conversion. Foreign exchange rate changes decreased operating revenues by $7.2 million.
Operating expenses increased $67.2 million in the third quarter of 2026 compared to the third quarter of 2025. Third-party distribution, service and advisory costs increased $85.4 million primarily due to higher third-party costs for QQQ and higher average AUM. Employee compensation expenses decreased $27.8 million primarily due to a $24.9 million decrease in the mark-to-market adjustment on deferred compensation liabilities and lower salaries of $13.1 million primarily due to the divestitures in the fourth quarter of 2025, partially offset by higher variable compensation costs. Marketing expenses increased $15.8 million, primarily due to advertising related to QQQ. Foreign exchange rate changes decreased operating expenses by $5.4 million.
The effective tax rate was 23.3% in the third quarter of 2026 as compared to (2.8%) in the third quarter of 2025. The increase in the effective tax rate was primarily due to the favorable resolution of a tax matter in the third quarter of 2025, including the benefit related to a reduction in the deferred income tax rate and the reversal of a reserve for uncertain tax positions.
Adjusted (1) Operating Results:
Third Quarter 2026 compared to Second Quarter 2026
Net revenues and adjusted operating expenses: Net revenues in the third quarter of 2026 increased $52.6 million compared to the second quarter primarily due to higher average AUM and higher performance fees earned by our China joint venture, partially offset by the impact of the Sale of the Canadian Management Agreements.
Adjusted operating expenses decreased $11.0 million compared to the second quarter.
Adjusted operating income increased $63.6 million compared to the second quarter. Adjusted operating margin increased to 40.7% from 37.5%.
Non-operating income and expenses: Equity in earnings of unconsolidated affiliates was a market loss of $1.0 million. Other gains/(losses) were a net loss of $23.8 million, primarily driven by market value changes in seed capital and other investments. Interest and dividend income was $12.9 million.
The effective tax rate on adjusted net income increased slightly to 25.1% in the third quarter of 2026 from 24.9% in the second quarter of 2026.
Adjusted diluted earnings per common share was $0.72 for the third quarter of 2026.
Third Quarter 2026 compared to Third Quarter 2025
Net revenues and adjusted operating expenses: Net revenues in the third quarter of 2026 increased $195.4 million compared to the third quarter of 2025 primarily driven by higher average AUM and the net revenues earned from QQQ.
Adjusted operating expenses in the third quarter of 2026 increased $39.2 million compared to the third quarter of 2025. Employee compensation increased $20.7 million primarily due to higher variable employee compensation of $29.3 million, partially offset by lower base salaries due to the divestitures in the fourth quarter of 2025. Marketing costs increased $15.1 million primarily due to advertising related to QQQ. General and administrative expenses increased $6.4 million primarily due to higher outsourced administration costs.
Adjusted operating income increased $156.2 million compared to the third quarter of 2025. Adjusted operating margin increased to 40.7% from 34.2%.
The effective tax rate on adjusted net income was 25.1% in the third quarter of 2026, compared to 11.2% in the third quarter of 2025. The increase in the effective tax rate was primarily due to the favorable resolution of a tax matter in the third quarter of 2025, including the reversal of a reserve for uncertain tax positions.
(1)
Represents non-GAAP financial measure. See the information on pages 8 through 11 for a reconciliation to the most directly comparable U.S. GAAP measure.
Capital Management:
Cash and cash equivalents: $965.5 million at September 30, 2026 ($915.4 million as of June 30, 2026).
Debt: $1,281.3 million at September 30, 2026 ($1,624.0 million at June 30, 2026). The credit facility balance was $393.0 million as of September 30, 2026 ($736.0 million at June 30, 2026).
Net Debt (2): $315.8 million at September 30, 2026 ($708.6 million at June 30, 2026)
(2)
Net debt: Debt less Cash and cash equivalents
Common share repurchases: During the third quarter of 2026, the company repurchased 2.1 million common shares for $65 million in the open market.
Common shares outstanding (end of period): 439.5 million
Diluted common shares outstanding (end of period): 451.4 million
Dividends paid: $98.4 million (common); $37.0 million (preferred).
Common dividends declared: The company is announcing a third quarter cash dividend of $0.215 per share to holders of common shares. The dividend is payable on December 2, 2026 to common shareholders of record at the close of business on November 13, 2026.
Preferred dividends declared: The company is announcing a preferred cash dividend of $14.75 per share representing the period from September 1, 2026 through November 30, 2026. The preferred dividend is payable on December 1, 2026.
About Invesco Ltd.
Invesco Ltd. is one of the world's leading asset management firms serving clients in more than 120 countries. With US$2.5 trillion in assets under management as of September 30, 2026, we deliver a comprehensive range of investment capabilities across public, private, active, and passive. Our collaborative mindset, breadth of solutions and global scale mean we're well positioned to help retail and institutional investors rethink challenges and find new possibilities for success. For more information, visit www.invesco.com.
Members of the investment community and general public are invited to listen to the conference call today, October 27, 2026, at 9:00 a.m. ET by dialing one of the following numbers: 1-866-803-2143 for U.S. and Canadian callers or 1-210-795-1098 for international callers, using the Passcode: Invesco. An audio replay of the conference call will be available until Wednesday, November 11, 2026 by calling 1-866-360-7726 for U.S. and Canadian callers or 1-203-369-0178 for international callers. A presentation highlighting the company's performance will be available during a live Webcast and on Invesco's Website at invesco.com/corporate.
This release, and comments made in the associated conference call today, may include "forward-looking statements." Forward-looking statements include information concerning future results of our operations, expenses, earnings, liquidity, cash flow, capital expenditures, and assets under management and could differ materially from events that actually occur in the future due to known and unknown risks and other important factors, including, but not limited to, industry or market conditions, geopolitical events including wars, global trade tensions, tariffs, natural disasters and pandemics or health crises and their respective potential impact on the company, acquisitions and divestitures, debt and our ability to obtain additional financing or make payments, regulatory developments, demand for and pricing of our products and other aspects of our business or general economic conditions. In addition, words such as "believes," "expects," "anticipates," "intends," "plans," "estimates," "projects," "forecasts," and future or conditional verbs such as "will," "may," "could," "should," and "would" as well as any other statement that necessarily depends on future events, are intended to identify forward-looking statements. None of this information should be considered in isolation from, or as a substitute for, historical financial statements.
Forward-looking statements are not guarantees, and they involve risks, uncertainties and assumptions. Although we make such statements based on assumptions that we believe to be reasonable, there can be no assurance that actual results will not differ materially from our expectations. We caution investors not to rely unduly on any forward-looking statements and urge you to carefully consider the risks described in our most recent Form 10-K and subsequent Forms 10-Q, filed with the Securities and Exchange Commission. You may obtain these reports from the SEC's website at www.sec.gov. We expressly disclaim any obligation to update the information in any public disclosure if any forward-looking statement later turns out to be inaccurate.
Investor Relations Contacts:
Greg Ketron
404-724-4299
Jennifer Church
404-439-3428
Media Relations Contact:
Andrea Raphael
212-323-4202
Invesco Ltd.
U.S. GAAP Condensed Consolidated Income Statements
(Unaudited, in millions, other than per share amounts)
Q3-26
Q2-26
% Change
Q3-25
% Change
Operating revenues:
Investment management fees
$ 1,512.2
$ 1,461.8
3.4 %
$ 1,184.7
27.6 %
Service and distribution fees
313.2
309.9
1.1 %
400.7
(21.8 %)
Performance fees
2.0
3.7
(45.9 %)
6.5
(69.2 %)
Other
45.8
50.2
(8.8 %)
48.5
(5.6 %)
Total operating revenues
1,873.2
1,825.6
2.6 %
1,640.4
14.2 %
Operating expenses:
Third-party distribution, service and advisory
643.7
627.1
2.6 %
558.3
15.3 %
Employee compensation
493.8
546.7
(9.7 %)
521.6
(5.3 %)
Marketing
35.9
36.7
(2.2 %)
20.1
78.6 %
Property, office and technology
105.9
109.3
(3.1 %)
109.2
(3.0 %)
General and administrative
149.4
133.5
11.9 %
151.3
(1.3 %)
Amortization of intangible assets
8.0
8.1
(1.2 %)
9.0
(11.1 %)
Total operating expenses
1,436.7
1,461.4
(1.7 %)
1,369.5
4.9 %
Operating income
436.5
364.2
19.9 %
270.9
61.1 %
Other income/(expense):
Equity in earnings of unconsolidated affiliates
42.6
35.1
21.4 %
34.8
22.4 %
Interest and dividend income
9.8
9.9
(1.0 %)
10.5
(6.7 %)
Interest expense
(20.3)
(23.6)
(14.0 %)
(25.7)
(21.0 %)
Other gains/(losses), net
(34.2)
105.8
N/A
(0.8)
4,175.0 %
Other income/(expense) of CIP, net
29.5
(36.0)
N/A
57.0
(48.2 %)
Income before income taxes
463.9
455.4
1.9 %
346.7
33.8 %
Income tax (provision)/benefit
(108.3)
(116.5)
(7.0 %)
9.7
N/A
Net income
355.6
338.9
4.9 %
356.4
(0.2 %)
Net (income)/loss attributable to noncontrolling
interests in consolidated entities
(24.1)
43.4
N/A
(10.7)
125.2 %
Less: Dividends declared on preferred shares
(37.0)
(37.0)
— %
(44.4)
(16.7 %)
Net income attributable to Invesco Ltd.
$ 294.5
$ 345.3
(14.7 %)
$ 301.3
(2.3 %)
Earnings per common share:
- basic
$ 0.66
$ 0.77
(14.3 %)
$ 0.67
(1.5 %)
- diluted
$ 0.65
$ 0.76
(14.5 %)
$ 0.66
(1.5 %)
Weighted average common shares outstanding:
- basic
449.1
451.3
(0.5 %)
452.4
(0.7 %)
- diluted
452.5
454.4
(0.4 %)
454.6
(0.5 %)
Invesco Ltd.
Non-GAAP Information and Reconciliations
We utilize the following non-GAAP performance measures: Net revenues (and by calculation, Net revenue yield on AUM), Adjusted operating income, Adjusted operating margin, Adjusted net income attributable to Invesco Ltd., and Adjusted diluted EPS. We believe the adjusted measures provide valuable insight into our ongoing operational performance and assist in comparisons to our competitors. These measures also assist management with the establishment of operational budgets and forecasts. The most directly comparable U.S. GAAP measures are Operating revenues (and by calculation, gross revenue yield on AUM), Operating income, Operating margin, Net income attributable to Invesco Ltd., and Diluted EPS.
The following are reconciliations of Operating revenues, Operating income (and by calculation, operating margin), and Net income attributable to Invesco Ltd. (and by calculation, diluted EPS) on a U.S. GAAP basis to a non-GAAP basis of Net revenues, Adjusted operating income (and by calculation, Adjusted operating margin), and Adjusted net income attributable to Invesco Ltd. (and by calculation, Adjusted diluted EPS). In addition, a reconciliation of Adjusted operating expenses is provided below, together with reconciliations of the U.S. GAAP Operating expense lines to provide further analysis of the non-GAAP adjustments. These non-GAAP measures should not be considered as substitutes for any U.S. GAAP measures and may not be comparable to other similarly titled measures of other companies. The tax effect of the reconciling items is based on the tax jurisdiction attributable to the transactions. These measures are described more fully in the company's Forms 10-K and 10-Q. Refer to these public filings for additional information about the company's non-GAAP performance measures.
Reconciliation of Operating revenues to Net revenues:
(in millions)
Q3-26
Q2-26
Q3-25
Operating revenues, U.S. GAAP basis
$ 1,873.2
$ 1,825.6
$ 1,640.4
Revenue adjustments (1)
Investment management fees
(401.7)
(385.2)
(236.8)
Service and distribution fees
(208.2)
(207.2)
(286.0)
Other
(33.8)
(34.7)
(35.5)
Total revenue adjustments
(643.7)
(627.1)
(558.3)
Invesco Great Wall (2)
141.6
121.8
94.3
CIP (3)
10.6
8.8
9.9
Net revenues
$ 1,381.7
$ 1,329.1
$ 1,186.3
Reconciliation of Operating income to Adjusted operating income:
(in millions)
Q3-26
Q2-26
Q3-25
Operating income, U.S. GAAP basis
$ 436.5
$ 364.2
$ 270.9
Invesco Great Wall (2)
91.2
76.7
68.0
CIP (3)
21.8
13.0
28.6
Amortization of intangible assets (4)
8.0
8.1
9.0
Compensation expense related to market valuation changes in deferred
compensation liabilities (5)
4.8
48.4
29.6
Canadian sale and restructuring (6)
—
(11.7)
—
Adjusted operating income
$ 562.3
$ 498.7
$ 406.1
Operating margin (7)
23.3 %
19.9 %
16.5 %
Adjusted operating margin (8)
40.7 %
37.5 %
34.2 %
Reconciliation of Net income attributable to Invesco Ltd. to Adjusted net income attributable to Invesco Ltd.
(in millions)
Q3-26
Q2-26
Q3-25
Net income attributable to Invesco Ltd., U.S. GAAP basis
$ 294.5
$ 345.3
$ 301.3
Adjustments (excluding tax):
Amortization of intangible assets (4)
8.0
8.1
9.0
Deferred compensation net market valuation changes (5)
26.2
(26.8)
0.1
Canadian sale and restructuring (6)
—
(11.7)
—
Total adjustments to Income before income taxes
34.2
(30.4)
9.1
Impact of deferred income tax rate change (9)
—
—
(39.0)
Tax adjustment for amortization of intangible assets and goodwill (10)
3.9
4.0
4.0
Other tax effects of adjustments above
(6.2)
3.4
—
Adjusted net income attributable to Invesco Ltd.
$ 326.4
$ 322.3
$ 275.4
Weighted average common shares outstanding - diluted
452.5
454.4
454.6
Diluted EPS
$ 0.65
$ 0.76
$ 0.66
Adjusted diluted EPS (11)
$ 0.72
$ 0.71
$ 0.61
Reconciliation of Operating expenses to Adjusted operating expenses:
(in millions)
Q3-26
Q2-26
Q3-25
Operating expenses, U.S. GAAP basis
$ 1,436.7
$ 1,461.4
$ 1,369.5
Invesco Great Wall (2)
50.4
45.1
26.3
Third-party distribution, service and advisory expenses
(643.7)
(627.1)
(558.3)
CIP (3)
(11.2)
(4.2)
(18.7)
Amortization of intangible assets (4)
(8.0)
(8.1)
(9.0)
Compensation expense related to market valuation changes in deferred
compensation liabilities (5)
(4.8)
(48.4)
(29.6)
Canadian sale and restructuring (6)
—
11.7
—
Adjusted operating expenses
$ 819.4
$ 830.4
$ 780.2
Employee compensation, U.S. GAAP basis
$ 493.8
$ 546.7
$ 521.6
Invesco Great Wall (2)
37.8
31.8
14.1
Compensation expense related to market valuation changes in deferred
compensation liabilities (5)
(4.8)
(48.4)
(29.6)
Adjusted employee compensation
$ 526.8
$ 530.1
$ 506.1
Marketing, U.S. GAAP basis
$ 35.9
$ 36.7
$ 20.1
Invesco Great Wall (2)
3.2
3.7
3.9
Adjusted marketing
$ 39.1
$ 40.4
$ 24.0
Property, office and technology, U.S. GAAP basis
$ 105.9
$ 109.3
$ 109.2
Invesco Great Wall (2)
4.5
4.6
4.2
Adjusted property, office and technology
$ 110.4
$ 113.9
$ 113.4
General and administrative, U.S. GAAP basis
$ 149.4
$ 133.5
$ 151.3
Invesco Great Wall (2)
4.9
5.0
4.1
CIP (3)
(11.2)
(4.2)
(18.7)
Canadian sale and restructuring (6)
—
11.7
—
Adjusted general and administrative
$ 143.1
$ 146.0
$ 136.7
Amortization of intangible assets, U.S. GAAP basis
$ 8.0
$ 8.1
$ 9.0
Amortization of intangible assets (4)
(8.0)
(8.1)
(9.0)
Adjusted amortization of intangible assets
$ —
$ —
$ —
(1)
Revenue adjustments: The company calculates Net revenues by reducing Operating revenues to exclude fees that are passed through to external parties who perform functions on behalf of, and distribute, the company's managed funds. The Net revenue presentation assists in identifying the revenue contribution generated by the company, removing distortions caused by the differing distribution channel fees and allowing for a fair comparison with U.S. peer investment managers and within Invesco's own investment units. Additionally, management evaluates Net revenue yield on AUM, which is equal to Net revenues divided by Average AUM during the reporting period, as an indicator of the Net revenues we receive for each dollar of AUM we manage.
Investment management fees are adjusted by renewal commissions and certain administrative fees. Service and distribution fees are primarily adjusted by distribution fees passed through to broker dealers for certain share classes and pass through fund-related costs. Other revenues are primarily adjusted by transaction fees passed through to third parties.
(2)
Invesco Great Wall: The company reflects 100% of Invesco Great Wall in its Net revenues and Adjusted operating income (and by calculation, Adjusted operating margin). The company's non-GAAP operating results reflect the economics of these holdings on a basis consistent with the underlying AUM and flows. Adjusted net income is reduced by the amount of earnings attributable to the noncontrolling interests.
(3)
CIP: The company believes that the CIP may impact a reader's analysis of our underlying results of operations and could result in investor confusion or the production of information about the company by analysts or external credit rating agencies that is not reflective of the underlying results of operations and financial condition of the company. Accordingly, the company believes that it is appropriate to adjust Operating revenues and Operating income for the impact of CIP in calculating the respective Net revenues and Adjusted operating income (and by calculation, Adjusted operating margin).
(4)
Amortization of intangible assets: The company removes amortization related to acquired assets in arriving at Adjusted operating income, Adjusted operating margin and Adjusted diluted EPS, as this will aid comparability of our results period to period, and aid comparability with peer companies that may not have similar acquisition-related charges.
(5)
Market valuation changes related to deferred compensation plan liabilities: Certain deferred compensation plan awards provide a return to the employee linked to the appreciation (depreciation) of specified investments. The company economically hedges the exposure to market movements on these deferred compensation liabilities. Since these liabilities are economically hedged, the company believes it is useful to remove the market movements related to the deferred compensation plan liabilities from the calculation of Adjusted operating income (and by calculation, Adjusted operating margin) and to remove the net impact of the economic hedge from the calculation of Adjusted net income (and by calculation, Adjusted diluted EPS) to produce results that will be more comparable period to period.
(6)
Canadian sale and restructuring: In the second quarter of 2026, the company removed the net benefit arising from the Sale of the Canadian Management Agreements and the restructuring of the company's Canadian operations. The company removed this benefit in arriving at Adjusted operating income, Adjusted operating margin, Adjusted net income, and Adjusted diluted EPS, as this will aid comparability of our results period to period and aid comparability with peer companies that may not have similar activities.
(7)
Operating margin is equal to Operating income divided by Operating revenues.
(8)
Adjusted operating margin is equal to Adjusted operating income divided by Net revenues.
(9)
Impact of deferred income tax rate change: In the third quarter of 2025, the company removed a non-cash income tax benefit of $39.0 million related to the revaluation of the deferred tax liabilities for indefinite-lived intangible assets as a result of a decrease in the tax rate. The company removed this discrete tax benefit in arriving at Adjusted net income and Adjusted diluted EPS as it does not have a cash flow impact and will aid comparability of our results period to period.
(10)
Tax adjustment for amortization of intangible assets and goodwill: The company reflects the tax benefit realized on the tax amortization of goodwill and intangibles in Adjusted net income. The company believes it is useful to include this tax benefit in arriving at the Adjusted diluted EPS measure.
(11)
Adjusted diluted EPS is equal to Adjusted net income attributable to Invesco Ltd. divided by the weighted average number of common and restricted common shares outstanding.
Invesco Ltd.
Assets Under Management
Three months ended
Nine months ended
(in billions)
September
30, 2026
June 30,
2026
% Change
September
30, 2025
September
30, 2026
September
30, 2025
% Change
Beginning Assets
$ 2,470.3
$ 2,159.5
14.4 %
$ 2,001.4
$ 2,169.9
$ 1,846.0
17.5 %
Long-term inflows
181.1
202.1
(10.4 %)
138.4
545.2
379.1
43.8 %
Long-term outflows
(146.0)
(157.0)
(7.0 %)
(109.5)
(443.2)
(317.0)
39.8 %
Net long-term flows
35.1
45.1
(22.2 %)
28.9
102.0
62.1
64.3 %
Net flows in non-management fee earning
AUM (a)
0.5
0.7
(28.6 %)
2.6
1.2
10.4
(88.5 %)
Net flows in money market funds
52.9
16.9
213.0 %
(5.4)
81.3
1.4
5,707.1 %
Total net flows
88.5
62.7
41.1 %
26.1
184.5
73.9
149.7 %
Reinvested distributions
0.9
1.6
(43.8 %)
1.0
3.4
3.0
13.3 %
Market gains and losses
(26.4)
256.8
N/A
99.0
187.9
183.2
2.6 %
Dispositions (b)
—
(11.0)
N/A
—
(11.0)
—
N/A
Foreign currency translation
4.5
0.7
542.9 %
(2.7)
3.1
18.7
(83.4 %)
Ending Assets
$ 2,537.8
$ 2,470.3
2.7 %
$ 2,124.8
$ 2,537.8
$ 2,124.8
19.4 %
Ending long-term AUM
$ 2,226.4
$ 2,212.6
0.6 %
$ 1,510.3
$ 2,226.4
$ 1,510.3
47.4 %
Average long-term AUM
$ 2,216.5
$ 2,124.4
4.3 %
$ 1,462.0
$ 2,108.5
$ 1,377.5
53.1 %
Average AUM
$ 2,510.2
$ 2,368.8
6.0 %
$ 2,060.4
$ 2,366.0
$ 1,946.2
21.6 %
Average QQQ AUM
$ 480.3
$ 452.3
6.2 %
$ 365.1
$ 443.7
$ 334.8
32.5 %
Three months ended September 30, 2026
Nine months ended September 30, 2026
By channel: (in billions)
Retail
Institutional
Retail
Institutional
Beginning Assets
$ 1,766.3
$ 704.0
$ 1,515.7
$ 654.2
Long-term inflows
142.2
38.9
410.9
134.3
Long-term outflows
(100.5)
(45.5)
(307.2)
(136.0)
Net long-term flows
41.7
(6.6)
103.7
(1.7)
Net flows in non-management fee earning AUM (a)
(0.1)
0.6
(0.2)
1.4
Net flows in money market funds
4.2
48.7
8.5
72.8
Total net flows
45.8
42.7
112.0
72.5
Reinvested distributions
0.9
—
3.4
—
Market gains and losses
(21.6)
(4.8)
171.3
16.6
Dispositions (b)
—
—
(9.9)
(1.1)
Foreign currency translation
2.0
2.5
0.9
2.2
Ending Assets
$ 1,793.4
$ 744.4
$ 1,793.4
$ 744.4
Three months ended September 30, 2026
Nine months ended September 30, 2026
By client domicile: (in billions)
Americas
Asia Pacific
EMEA
Americas
Asia Pacific
EMEA
Beginning Assets
$ 1,707.6
$ 366.5
$ 396.2
$ 1,492.4
$ 321.0
$ 356.5
Long-term inflows
87.7
57.8
35.6
261.4
182.9
100.9
Long-term outflows
(77.4)
(48.9)
(19.7)
(219.3)
(152.6)
(71.3)
Net long-term flows
10.3
8.9
15.9
42.1
30.3
29.6
Net flows in non-management fee earning AUM (a)
0.7
(0.2)
—
1.4
(0.2)
—
Net flows in money market funds
47.0
5.9
—
71.2
9.4
0.7
Total net flows
58.0
14.6
15.9
114.7
39.5
30.3
Reinvested distributions
0.8
—
0.1
3.2
—
0.2
Market gains and losses
(18.0)
(10.6)
2.2
149.9
8.0
30.0
Dispositions (b)
—
—
—
(11.0)
—
—
Foreign currency translation
—
4.9
(0.4)
(0.8)
6.9
(3.0)
Ending Assets
$ 1,748.4
$ 375.4
$ 414.0
$ 1,748.4
$ 375.4
$ 414.0
See the footnotes immediately following these tables.
Invesco Ltd.
Assets Under Management (continued)
Three months ended September 30, 2026
By investment capability (c):
(in billions)
ETFs and
Index (d)
Fundamental
Fixed Income
(e)
Fundamental
Equities (f)
Private
Markets
(g)
China JV
(h)
Multi-
Asset/Other (i)
Global
Liquidity
(j)
QQQ (k)
Beginning Assets
$ 753.5
$ 315.5
$ 318.1
$ 135.5
$ 163.2
$ 79.9
$ 214.5
$ 490.1
Long-term inflows
69.3
17.6
13.5
5.2
37.8
7.2
—
30.5
Long-term outflows
(40.8)
(20.2)
(15.4)
(5.6)
(36.3)
(3.9)
—
(23.8)
Net long-term flows
28.5
(2.6)
(1.9)
(0.4)
1.5
3.3
—
6.7
Net flows in non-management
fee earning AUM (a)
—
—
—
—
—
0.5
—
—
Net flows in money market funds
—
—
—
—
5.9
—
47.0
—
Total net flows
28.5
(2.6)
(1.9)
(0.4)
7.4
3.8
47.0
6.7
Reinvested distributions
—
0.5
0.2
0.1
—
—
0.1
—
Market gains and losses
(7.5)
(6.8)
(8.4)
(0.3)
(6.3)
0.8
—
2.1
Foreign currency translation
0.1
1.3
1.1
—
2.0
—
—
—
Ending Assets
$ 774.6
$ 307.9
$ 309.1
$ 134.9
$ 166.3
$ 84.5
$ 261.6
$ 498.9
Average AUM
$ 770.3
$ 314.5
$ 314.6
$ 135.8
$ 164.3
$ 83.5
$ 246.8
$ 480.4
Nine months ended September 30, 2026
By investment capability (c):
(in billions)
ETFs and
Index (d)
Fundamental
Fixed Income
(e)
Fundamental
Equities (f)
Private
Markets
(g)
China JV
(h)
Multi-
Asset/Other (i)
Global
Liquidity
(j)
QQQ (k)
Beginning Assets
$ 630.2
$ 311.5
$ 298.4
$ 130.7
$ 132.5
$ 69.7
$ 189.7
$ 407.2
Long-term inflows
199.3
59.4
42.5
18.3
135.4
20.5
—
69.8
Long-term outflows
(122.1)
(57.9)
(54.5)
(16.4)
(118.3)
(13.9)
—
(60.1)
Net long-term flows
77.2
1.5
(12.0)
1.9
17.1
6.6
—
9.7
Net flows in non-management
fee earning AUM (a)
—
—
—
—
—
1.2
—
—
Net flows in money market funds
—
—
—
—
9.5
—
71.8
—
Total net flows
77.2
1.5
(12.0)
1.9
26.6
7.8
71.8
9.7
Reinvested distributions
—
1.5
1.2
0.3
—
0.1
0.3
—
Market gains and losses
73.9
(5.9)
26.0
2.6
1.0
8.4
(0.1)
82.0
Dispositions (b)
(6.7)
—
(3.6)
—
—
(0.7)
—
—
Foreign currency translation
—
(0.7)
(0.9)
(0.6)
6.2
(0.8)
(0.1)
—
Ending Assets
$ 774.6
$ 307.9
$ 309.1
$ 134.9
$ 166.3
$ 84.5
$ 261.6
$ 498.9
Average AUM
$ 715.0
$ 314.4
$ 309.9
$ 134.1
$ 154.0
$ 78.9
$ 216.0
$ 443.7
Invesco Ltd.
Footnotes to the Assets Under Management Tables
(a)
Non-management fee earning AUM includes non-management fee earning UIT and product leverage. For the nine months ended September 30, 2025, non-management fee earning AUM include QQQ's flows.
(b)
Sale of the management agreements associated with Invesco's Canadian fund business to CI Global Asset Management on June 1, 2026 decreased AUM by $11.0 billion.
(c)
Investment capabilities are descriptive groupings of AUM by investment strategy.
(d)
ETFs and Index includes ETFs and Indexed Strategies and excludes Invesco QQQ.
(e)
Fundamental Fixed Income includes Fixed Income products, including certain ETFs managed within this capability.
(f)
Fundamental Equities includes Equity products.
(g)
Private Markets includes Private Credit and Real Estate investments comprised primarily of Real Estate, CLOs, Private Credit and listed real assets, including certain ETFs managed within this capability.
(h)
China JV includes AUM managed by Invesco Great Wall.
(i)
Multi-Asset/Other includes Global Asset Allocation, Invesco Quantitative Strategies, Global Targeted Returns, Solutions, UITs, including certain ETFs managed within this capability.
(j)
Global Liquidity is comprised mainly of Money Market funds.
(k)
QQQ includes only Invesco QQQ Trust.
Invesco Ltd.
Supplemental Information (1)
For the three months ended
September 30, 2026
For the three months ended
September 30, 2025
Cash flow information
(in millions)
U.S. GAAP
Impact of
CIP
Excluding
CIP
U.S. GAAP
Impact of
CIP
Excluding
CIP
Invesco and CIP cash and cash equivalents,
beginning of period
$ 1,610.3
$ (694.9)
$ 915.4
$ 1,491.9
$ (569.2)
$ 922.7
Cash flows from operating activities
475.0
179.6
654.6
606.2
(20.7)
585.5
Cash flows from investing activities
292.8
(344.3)
(51.5)
(254.8)
158.0
(96.8)
Cash flows from financing activities
(635.1)
81.7
(553.4)
(310.1)
(118.5)
(428.6)
Increase/(decrease) in cash and cash equivalents
132.7
(83.0)
49.7
41.3
18.8
60.1
Foreign exchange movement on cash and cash
equivalents
(4.7)
5.1
0.4
(9.4)
(0.3)
(9.7)
Cash and cash equivalents, end of the period
$ 1,738.3
$ (772.8)
$ 965.5
$ 1,523.8
$ (550.7)
$ 973.1
For the nine months ended
September 30, 2026
For the nine months ended
September 30, 2025
Cash flow information
(in millions)
U.S. GAAP
Impact of
CIP
Excluding
CIP
U.S. GAAP
Impact of
CIP
Excluding
CIP
Invesco and CIP cash and cash equivalents,
beginning of period
$ 1,979.8
$ (942.3)
$ 1,037.5
$ 1,496.0
$ (509.5)
$ 986.5
Cash flows from operating activities
1,421.8
(194.7)
1,227.1
1,069.5
(117.5)
952.0
Cash flows from investing activities
(1,145.9)
1,004.6
(141.3)
(622.2)
565.1
(57.1)
Cash flows from financing activities
(484.4)
(657.6)
(1,142.0)
(505.6)
(452.4)
(958.0)
Increase/(decrease) in cash and cash equivalents
(208.5)
152.3
(56.2)
(58.3)
(4.8)
(63.1)
Foreign exchange movement on cash and cash
equivalents
(33.0)
17.2
(15.8)
86.1
(36.4)
49.7
Cash and cash equivalents, end of the period
$ 1,738.3
$ (772.8)
$ 965.5
$ 1,523.8
$ (550.7)
$ 973.1
(1)
These tables include non-GAAP presentations. Cash held by CIP is not available for use by Invesco. Additionally, there is no recourse to Invesco for CIP debt. The cash flows of CIP do not form part of the company's cash flow management processes, nor do they form part of the company's significant liquidity evaluations and decisions.
Invesco Ltd.
Supplemental Information (1)
September 30, 2026
December 31, 2025
Balance Sheet information
(in millions)
U.S. GAAP
Impact of
CIP
Excluding
CIP
U.S. GAAP
Impact of
CIP
Excluding
CIP
ASSETS
Cash and cash equivalents
$ 965.5
$ —
$ 965.5
$ 1,037.5
$ —
$ 1,037.5
Investments
1,366.1
584.4
1,950.5
1,381.1
397.1
1,778.2
Goodwill and intangible assets, net
12,295.3
—
12,295.3
12,404.4
—
12,404.4
Other assets (2)
2,323.2
9.4
2,332.6
2,121.2
11.2
2,132.4
Investments and other assets of CIP (3)
10,695.4
(10,695.4)
—
10,149.8
(10,149.8)
—
Total assets
$ 27,645.5
$ (10,101.6)
$ 17,543.9
$ 27,094.0
$ (9,741.5)
$ 17,352.5
LIABILITIES
Debt
$ 1,281.3
$ —
$ 1,281.3
$ 1,825.1
$ —
$ 1,825.1
Other Liabilities (4)
3,632.7
—
3,632.7
3,296.4
—
3,296.4
Debt and other liabilities of CIP
9,103.0
(9,103.0)
—
8,967.6
(8,967.6)
—
Total liabilities
$ 14,017.0
$ (9,103.0)
$ 4,914.0
$ 14,089.1
$ (8,967.6)
$ 5,121.5
EQUITY
Total equity attributable to Invesco Ltd.
$ 12,629.9
$ —
$ 12,629.9
$ 12,231.0
$ —
$ 12,231.0
Noncontrolling interests (5)
998.6
(998.6)
—
773.9
(773.9)
—
Total equity
13,628.5
(998.6)
12,629.9
13,004.9
(773.9)
12,231.0
Total liabilities and equity
$ 27,645.5
$ (10,101.6)
$ 17,543.9
$ 27,094.0
$ (9,741.5)
$ 17,352.5
(1)
This table includes non-GAAP presentations. Assets of CIP are not available for use by Invesco. Additionally, there is no recourse to Invesco for CIP debt.
(2)
Amounts include Accounts receivable, Property, equipment and software, and Other assets.
(3)
Amounts include Cash and cash equivalents of CIP.
(4)
Amounts include Accrued compensation and benefits, Accounts payable and accrued expenses, and Deferred tax liabilities.
(5)
Amounts include Redeemable noncontrolling interests in consolidated entities and Equity attributable to nonredeemable noncontrolling interests in consolidated entities.
Herc Holdings vykázala za čtvrtletí zisk na akcii (EPS) 3,91 USD, což je o 26,95 % více než odhady, a tržby ve výši 1,36 mld. USD oproti 1,3 mld. USD ve stejném období loňského roku.
Herc Holdings (HRI - Free Report) came out with quarterly earnings of $3.91 per share, beating the Zacks Consensus Estimate of $3.08 per share. This compares to earnings of $2.22 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +26.95%. A quarter ago, it was expected that this equipment rental supplier would post earnings of $0.76 per share when it actually produced earnings of $1.43, delivering a surprise of +88.16%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Herc Holdings, which belongs to the Zacks Transportation - Equipment and Leasing industry, posted revenues of $1.36 billion for the quarter ended September 2026, surpassing the Zacks Consensus Estimate by 1.98%. This compares to year-ago revenues of $1.3 billion. 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.
Herc Holdings shares have lost about 14.3% since the beginning of the year versus the S&P 500's gain of 12.1%.
What's Next for Herc Holdings?While Herc Holdings 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 Herc Holdings 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 #1 (Strong 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 $2.63 on $1.27 billion in revenues for the coming quarter and $7.30 on $4.96 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, Transportation - Equipment and Leasing is currently in the top 21% 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, Willis Lease Finance (WLFC - Free Report) , is yet to report results for the quarter ended September 2026.
This jet engine lessor is expected to post quarterly earnings of $1.40 per share in its upcoming report, which represents a year-over-year change of +29.6%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Willis Lease Finance's revenues are expected to be $202.76 million, up 10.6% from the year-ago quarter.
CenterPoint Energy vykázala za čtvrtletí zisk na akcii (EPS) ve výši 0,53 USD, oproti odhadu 0,50 USD, a tržby ve výši 2,19 mld. USD, což je o 1,89 % více než konsensus.
CenterPoint Energy (CNP - Free Report) came out with quarterly earnings of $0.53 per share, beating the Zacks Consensus Estimate of $0.5 per share. This compares to earnings of $0.5 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +6.00%. A quarter ago, it was expected that this energy delivery company would post earnings of $0.37 per share when it actually produced earnings of $0.4, delivering a surprise of +8.11%.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
CenterPoint, which belongs to the Zacks Utility - Electric Power industry, posted revenues of $2.19 billion for the quarter ended September 2026, surpassing the Zacks Consensus Estimate by 1.89%. This compares to year-ago revenues of $1.99 billion. 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.
CenterPoint shares have added about 7.5% since the beginning of the year versus the S&P 500's gain of 12.1%.
What's Next for CenterPoint?While CenterPoint 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 CenterPoint 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 $0.45 on $2.59 billion in revenues for the coming quarter and $1.91 on $9.91 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, Utility - Electric Power is currently in the top 39% 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, Evergy Inc (EVRG - Free Report) , is yet to report results for the quarter ended September 2026. The results are expected to be released on November 5.
This electric utility is expected to post quarterly earnings of $2.27 per share in its upcoming report, which represents a year-over-year change of +11.8%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Evergy Inc's revenues are expected to be $1.9 billion, up 4.7% from the year-ago quarter.
Commvault ve druhém fiskálním čtvrtletí zvýšil tržby z předplatného o 21 % ve srovnání se stejným obdobím předchozího roku na 269 milionů USD; čistý zisk dosáhl 29,1 milionu USD.
Subscription revenue1 climbs +21% year over year to $269 million
Subscription annualized recurring revenue (ARR)1,2 reaches $1,104 million, up +20% year over year
Operating cash flow of $75 million, with free cash flow3 of $71 million
, /PRNewswire/ -- Commvault (Nasdaq: CVLT) today announced its financial results for the fiscal second quarter ended September 30, 2026.
"With AI accelerating both innovation and risk in the enterprise, resilience continues to be a business imperative," said Sanjay Mirchandani, President and CEO, Commvault. "Enterprises globally are increasingly turning to Commvault to stay resilient as they navigate more data, more identities, and greater complexity. We believe our strong Q2 results reflect that momentum, driving durable growth and shareholder value."
Notes are contained at the end of this press release
Second Quarter Fiscal 2027 Highlights -
Subscription revenue was $269 million, up 21% year over year, inclusive of:SaaS revenue of $106 million, up 33% year over yearSubscription ARR grew to $1,104 million, up 20% year over yearConstant currency subscription ARR was $1,107 million, with fiscal Q2 net new subscription ARR of $51 million on a constant currency basis using March 31, 2026 spot ratesIncome from operations (EBIT) was $30 million, an operating margin of 9.7%Non-GAAP EBIT3 was $68 million, an operating margin of 21.9%Operating cash flow was $75 million, with free cash flow of $71 millionRecent Business Highlights -
Commvault introduced Commvault Active Directory Pre Recover, a new Identity Resilience innovation designed to reduce clean recovery of Active Directory from hours to minutes.Commvault expanded its FedRAMP High Authorized Cyber Resilience Services to managed services providers for protection and recovery of sensitive government data while supporting evolving federal cybersecurity requirements.Commvault integrated Threat Scan with Google Threat Intelligence to help organizations identify clean recovery points faster and accelerate recovery following cyberattacks.Financial Outlook for Third Quarter and Full Year Fiscal 20274 -
We are providing the following guidance for the third quarter of fiscal year 2027:
Subscription revenue is expected to be between $293 million and $297 millionNon-GAAP EBIT margin is expected to be between 20.5% and 21.0%We are providing the following updated guidance for the full fiscal year 2027:
Subscription revenue is expected to be between $1,127 million and $1,133 millionSubscription ARR is expected to be between $1,205 million and $1,215 millionNon-GAAP EBIT margin is expected to be between 21.0% and 21.5%Free cash flow is expected to be between $255 million and $265 millionDiluted shares outstanding are expected to be approximately 42 millionFinancial Outlook for Full Year Fiscal 2027 Subscription ARR -
($ in millions)
FY'27 guidance as of June 30, 2026 (midpoint)
$ 1,205
YTD currency impact using March 31, 2026 rates
(3)
Adjustment on revised annual outlook
8
FY'27 updated guidance as of September 30, 2026 (midpoint)
$ 1,210
The above guidance metrics contemplate current macroeconomic conditions. These statements are forward-looking and made pursuant to the safe harbor provisions discussed in detail below. We do not undertake any obligation to update these forward-looking statements. Actual results may differ materially from anticipated results.
Conference Call Information
Commvault will host a conference call today, October 27, 2026 at 8:30 a.m. Eastern Time (5:30 a.m. Pacific Time) to discuss quarterly results. The live webcast and call dial-in numbers can be accessed by registering under the "News & Events" section of Commvault's website at ir.commvault.com under the "Investor Events" heading. An archived webcast of this conference call will also be available following the call.
About Commvault
Commvault (Nasdaq: CVLT) delivers continuous recovery for the AI era. We help organizations stay ready for constant disruption by returning critical data, applications, identities, and AI systems to a clean, trusted state. Our purpose-built recovery solutions span cloud-native and hybrid environments, leveraging AI to enable resilience at enterprise scale.
Safe Harbor Statement
This press release may contain forward-looking statements, including statements regarding financial projections, which are subject to risks and uncertainties, such as those related to our restructuring plans, competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of software products and related services, general economic conditions, outcome of litigation and others. For a discussion of these and other risks and uncertainties affecting Commvault's business, see "Item 1A. Risk Factors" in our annual report on Form 10-K and "Item 1A. Risk Factors" in our most recent quarterly report on Form 10-Q. Statements regarding Commvault's beliefs, plans, expectations or intentions regarding the future are 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. All such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from anticipated results. Commvault does not undertake to update its forward-looking statements.
Overview
($ in thousands)
Q2'26
Q3'26
Q4'26
Q1'27
Q2'27
Revenue
Y/Y
Growth
Revenue
Y/Y
Growth
Revenue
Y/Y
Growth
Revenue
Y/Y
Growth
Revenue
Y/Y
Growth
Subscription:
Term-based license
$ 92,647
10 %
$ 118,950
22 %
$ 114,445
6 %
$ 110,420
1 %
$ 105,002
13 %
Term-based support
49,686
19 %
50,962
18 %
53,933
21 %
56,057
18 %
57,307
15 %
SaaS
80,018
61 %
87,379
44 %
93,139
43 %
100,550
39 %
106,203
33 %
Total subscription
222,351
26 %
257,291
28 %
261,517
20 %
267,027
16 %
268,512
21 %
Perpetual license
12,073
15 %
13,675
(17) %
10,129
(32) %
8,695
19 %
7,205
(40) %
Perpetual support
30,543
(15) %
29,309
(14) %
26,972
(15) %
25,475
(19) %
23,482
(23) %
Other services
11,221
2 %
13,557
25 %
13,074
26 %
12,934
(7) %
13,190
18 %
Total revenues
$ 276,188
18 %
$ 313,832
19 %
$ 311,692
13 %
$ 314,131
11 %
$ 312,389
13 %
Constant Currency - Revenue
($ in thousands)
The constant currency impact is calculated using the average foreign exchange rates from the prior year period and applying these rates to foreign-denominated revenues in the current corresponding period. Commvault analyzes revenue growth on a constant currency basis in order to provide a comparable framework for assessing how the business performed excluding the effect of foreign currency fluctuations. The non-GAAP financial measures presented in this press release should not be considered as a substitute for, or superior to, the measures of financial performance prepared in accordance with GAAP.
Q2'26
Revenue as
Reported
(GAAP)
Q2'27
Revenue as
Reported
(GAAP)
Constant
Currency
Impact
% Change Y/Y
(GAAP)
% Change Y/Y
Constant
Currency
Subscription:
Term-based license
$ 92,647
$ 105,002
$ 430
13 %
14 %
Term-based support
49,686
57,307
136
15 %
16 %
SaaS
80,018
106,203
(1)
33 %
33 %
Total subscription
222,351
268,512
565
21 %
21 %
Perpetual license
12,073
7,205
128
(40) %
(39) %
Perpetual support
30,543
23,482
255
(23) %
(22) %
Other services
11,221
13,190
(14)
18 %
17 %
Total
$ 276,188
$ 312,389
$ 934
13 %
13 %
Disaggregation of Revenues
($ in thousands)
Our Americas region includes the United States, Canada, and Latin America. Our International region primarily includes Europe, the Middle East, Africa, Australia, India, and Southeast Asia.
Q2'26
Q3'26
Q4'26
Q1'27
Q2'27
Revenue
Y/Y
Growth
Revenue
Y/Y
Growth
Revenue
Y/Y
Growth
Revenue
Y/Y
Growth
Revenue
Y/Y
Growth
Americas
$ 168,125
16 %
$ 178,852
15 %
$ 184,977
9 %
$ 186,779
9 %
$ 194,103
15 %
International
108,063
22 %
134,980
26 %
126,715
20 %
127,352
15 %
118,286
9 %
Total revenues
$ 276,188
18 %
$ 313,832
19 %
$ 311,692
13 %
$ 314,131
11 %
$ 312,389
13 %
Subscription ARR and SaaS ARR
($ in thousands)
Q2'26
Q3'26
Q4'26
Q1'27
Q2'27
Subscription ARR
918,130
966,260
1,014,729
1,054,311
1,103,909
SaaS ARR
335,669
363,732
400,157
424,337
454,406
Constant Currency - Subscription ARR
($ in thousands)
Constant currency ARR is calculated using the foreign exchange spot rates from March 31, 2026 and applying these rates to foreign-denominated results in the periods presented.
Q1'27
Q2'27
Constant Currency Subscription ARR
Term-based Software ARR
$ 630,864
$ 651,402
SaaS ARR
424,879
455,387
Constant Currency Subscription ARR
$ 1,055,743
$ 1,106,789
Constant Currency Subscription Net New ARR
Term-based Software ARR
$ 16,457
$ 20,538
SaaS ARR
24,827
30,508
Constant Currency Subscription Net New ARR
$ 41,284
$ 51,046
Additional Financial Information
During the six months ended September 30, 2026, we repurchased approximately 906,000 shares of common stock for $119 millionWeighted average diluted shares outstanding were approximately 42 million for the period ended September 30, 2026Cash and cash equivalents totaled $897 million as of September 30, 2026Subscription net dollar retention rate5 was 113%Commvault Systems, Inc.
Consolidated Statements of Operations
(In thousands, except per share data)
(Unaudited)
Three Months Ended
September 30,
Six Months Ended
September 30,
2026
2025
2026
2025
Revenues:
Subscription:
Term-based license
$ 105,002
$ 92,647
$ 215,422
$ 201,929
Term-based support
57,307
49,686
113,364
97,268
Software-as-a-service
106,203
80,018
206,753
152,463
Total subscription
268,512
222,351
535,539
451,660
Perpetual license
7,205
12,073
15,900
19,408
Perpetual support
23,482
30,543
48,957
61,982
Other services
13,190
11,221
26,124
25,116
Total revenues
312,389
276,188
626,520
558,166
Cost of revenues:
Term-based license
3,465
2,414
7,708
4,656
Software-as-a-service
31,812
29,187
61,464
55,159
Perpetual license
228
194
399
439
Customer support
14,347
14,847
29,046
29,054
Other services
9,018
8,402
17,862
16,513
Total cost of revenues
58,870
55,044
116,479
105,821
Gross margin
253,519
221,144
510,041
452,345
Operating expenses:
Sales and marketing
135,529
122,240
275,324
244,719
Research and development
42,292
39,859
81,834
79,921
General and administrative
42,211
42,553
88,962
83,823
Depreciation and amortization
2,786
2,572
5,105
5,179
Restructuring
324
1,429
2,720
1,666
Change in contingent consideration
—
—
—
(545)
Total operating expenses
223,142
208,653
453,945
414,763
Income from operations
30,377
12,491
56,096
37,582
Interest income
8,439
3,087
16,126
5,096
Interest expense
(1,482)
(637)
(2,955)
(915)
Other income, net
1,420
159
1,689
220
Income before income taxes
38,754
15,100
70,956
41,983
Income tax expense
9,643
370
20,706
3,757
Net income
$ 29,111
$ 14,730
$ 50,250
$ 38,226
Net income per common share:
Basic
$ 0.71
$ 0.33
$ 1.22
$ 0.86
Diluted
$ 0.69
$ 0.33
$ 1.19
$ 0.84
Weighted average common shares outstanding:
Basic
41,261
44,406
41,303
44,366
Diluted
42,221
45,195
42,057
45,264
Commvault Systems, Inc.
Condensed Consolidated Balance Sheets
(In thousands)
(Unaudited)
September 30,
March 31,
2026
2026
ASSETS
Current assets:
Cash and cash equivalents
$ 897,250
$ 899,987
Trade accounts receivable, net
280,575
330,483
Other current assets
62,295
56,040
Total current assets
1,240,120
1,286,510
Deferred tax assets, net
145,975
153,766
Property and equipment, net
13,479
9,750
Operating lease assets
35,956
34,920
Deferred commissions cost
113,437
103,892
Intangible assets, net
17,204
19,715
Goodwill
209,168
209,322
Other assets
99,723
68,430
Total assets
$ 1,875,062
$ 1,886,305
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable
$ 493
$ 651
Accrued liabilities
159,107
165,583
Current portion of operating lease liabilities
7,443
6,963
Deferred revenue
472,746
484,973
Total current liabilities
639,789
658,170
Convertible notes, net
882,989
880,863
Deferred revenue, less current portion
291,114
293,725
Deferred tax liabilities
1,134
1,565
Long-term operating lease liabilities
30,937
29,675
Other liabilities
16,565
14,813
Total stockholders' equity
12,534
7,494
Total liabilities and stockholders' equity
$ 1,875,062
$ 1,886,305
Commvault Systems, Inc.
Consolidated Statements of Cash Flows
(In thousands)
(Unaudited)
Three Months Ended
September 30,
Six Months Ended
September 30,
2026
2025
2026
2025
Cash flows from operating activities
Net income
$ 29,111
$ 14,730
$ 50,250
$ 38,226
Adjustments to reconcile net income to net cash provided by operating
activities:
Depreciation and amortization
2,786
2,572
5,105
5,179
Amortization of debt issuance costs
1,166
409
2,330
494
Amortization of deferred commissions costs
15,835
11,221
30,417
22,210
Noncash stock-based compensation
35,780
32,224
71,070
62,404
Noncash operating lease expense
2,008
1,774
3,924
3,410
Noncash change in fair value of contingent consideration
—
—
—
(545)
Noncash adjustment on headquarters sale leaseback
—
—
—
495
Deferred income taxes
4,244
5,668
7,206
9,576
Other
67
(138)
(115)
(199)
Changes in operating assets and liabilities:
Trade accounts receivable, net
(9,599)
20,258
49,115
24,006
Other current assets and Other assets
(5,281)
(8,281)
(28,471)
(5,903)
Deferred commissions cost
(18,923)
(13,712)
(40,222)
(28,784)
Accounts payable
341
232
(165)
(88)
Accrued liabilities
18,072
2,030
(8,209)
(45,230)
Operating lease liabilities
(1,325)
(1,739)
(3,214)
(3,647)
Deferred revenue
169
10,513
(12,139)
27,953
Other liabilities
347
(992)
(414)
(1,107)
Net cash provided by operating activities
74,798
76,769
126,468
108,450
Cash flows from investing activities
Purchase of property and equipment
(3,932)
(3,187)
(4,501)
(5,066)
Purchase of investments
(144)
(482)
(8,039)
(6,626)
Proceeds from sale of headquarters, net
—
—
—
34,849
Business combination, net of cash acquired
—
(26,015)
—
(26,015)
Net cash used in investing activities
(4,076)
(29,684)
(12,540)
(2,858)
Cash flows from financing activities
Repurchase of common stock
(107,741)
(131,023)
(117,872)
(146,073)
Proceeds from stock-based compensation plans
6,585
6,974
6,585
6,974
Proceeds from issuance of convertible notes
—
900,000
—
900,000
Purchase of capped calls
—
(99,630)
—
(99,630)
Payment of debt issuance costs
—
(20,396)
—
(22,242)
Other
(113)
(18)
(188)
(30)
Net cash provided by (used in) financing activities
(101,269)
655,907
(111,475)
638,999
Effect of exchange rate changes on cash and cash equivalents
(2,040)
(2,671)
(5,190)
16,861
Net increase (decrease) in cash and cash equivalents
(32,587)
700,321
(2,737)
761,452
Cash and cash equivalents at beginning of period
929,837
363,234
899,987
302,103
Cash and cash equivalents at end of period
$ 897,250
$ 1,063,555
$ 897,250
$ 1,063,555
Supplemental disclosures of noncash activities
Operating lease liabilities arising from obtaining right-of-use assets
$ 4,262
$ 1,913
$ 5,194
$ 22,165
Debt issuance costs accrued but not paid, included in accrued liabilities
$ —
$ 984
$ —
$ 984
Share repurchases accrued but not paid, included in accrued liabilities
$ 1,419
$ —
$ 1,419
$ —
Commvault Systems, Inc.
Reconciliation of GAAP to Non-GAAP Financial Measures
(In thousands, except per share data)
(Unaudited)
Three Months Ended
September 30,
Six Months Ended
September 30,
2026
2025
2026
2025
Non-GAAP financial measures and reconciliation:
GAAP income from operations
$ 30,377
$ 12,491
$ 56,096
$ 37,582
Noncash stock-based compensation6
35,680
31,813
70,405
61,918
FICA and payroll tax expense related to stock-based compensation7
FICA and payroll tax expense related to stock-based compensation
712
838
1,589
2,637
Restructuring
324
1,429
2,720
1,666
Amortization of intangible assets
1,255
1,140
2,511
2,211
Business combination costs
—
1,890
—
1,890
Change in contingent consideration
—
—
—
(545)
Adjustment on headquarters sale leaseback
—
—
—
495
Non-recurring strategic pricing initiative costs
—
—
6,500
—
Other non-recurring charges
—
1,805
—
1,805
Non-GAAP provision for income taxes adjustment15
(8,771)
(12,593)
(16,417)
(23,617)
Non-GAAP net income
$ 58,311
$ 41,052
$ 117,558
$ 86,686
GAAP diluted earnings per share
$ 0.69
$ 0.33
$ 1.19
$ 0.84
Noncash stock-based compensation
0.85
0.70
1.67
1.37
FICA and payroll tax expense related to stock-based compensation
0.02
0.02
0.04
0.06
Restructuring
0.01
0.03
0.06
0.04
Amortization of intangible assets
0.03
0.03
0.06
0.05
Business combination costs
—
0.04
—
0.04
Change in contingent consideration
—
—
—
(0.01)
Adjustment on headquarters sale leaseback
—
—
—
0.01
Non-recurring strategic pricing initiative costs
—
—
0.15
—
Other non-recurring charges
—
0.04
—
0.04
Non-GAAP provision for income taxes adjustment
(0.22)
(0.28)
(0.37)
(0.52)
Non-GAAP diluted earnings per share
$ 1.38
$ 0.91
$ 2.80
$ 1.92
GAAP diluted weighted average shares outstanding
42,221
45,195
42,057
45,264
Three Months Ended
September 30,
Six Months Ended
September 30,
2026
2025
2026
2025
Non-GAAP free cash flow reconciliation:
GAAP net cash provided by operating activities
$ 74,798
$ 76,769
$ 126,468
$ 108,450
Purchase of property and equipment
(3,932)
(3,187)
(4,501)
(5,066)
Non-GAAP free cash flow
$ 70,866
$ 73,582
$ 121,967
$ 103,384
We monitor subscription annualized recurring revenue ("Subscription ARR"), SaaS ARR and subscription net dollar retention rate ("Subscription NRR") to help evaluate the state of our business. We believe these metrics are material to investors to understand the growth and performance of our business, as they help normalize certain variable factors and provide a consistent view of our recurring revenue profile. Subscription ARR and SaaS ARR exclude non-recurring elements and reflect the annualized value of active contracts, while subscription NRR measures net expansion within our existing subscription customer base. Together, we believe these metrics offer meaningful insight into the health and trajectory of our recurring revenue streams. Commvault has also provided its Subscription ARR on a constant currency basis in order to provide a comparable framework for assessing how the business performed excluding the effect of foreign currency fluctuations. Total ARR, which also included the annualized maintenance contract on perpetual licenses, is no longer disclosed.
Use of Non-GAAP Financial Measures
We have provided in this press release the following non-GAAP financial measures: non-GAAP income from operations (EBIT), non-GAAP EBIT margin, non-GAAP net income, non-GAAP diluted earnings per share, and non-GAAP free cash flow. This financial information has not been prepared in accordance with GAAP. Commvault uses these non-GAAP financial measures internally to understand, manage and evaluate its business and make operating decisions. Commvault believes that the use of these non-GAAP financial measures, when used as a supplement to GAAP financial measures, provides an additional tool for investors to use in evaluating ongoing operating results and trends, and in comparing its financial results with other companies in Commvault's industry, many of which present similar non-GAAP financial measures to the investment community. Commvault has also provided its revenues on a constant currency basis. We analyze revenue growth on a constant currency basis in order to provide a comparable framework for assessing how the business performed excluding the effect of foreign currency fluctuations.
All of these non-GAAP financial measures should be considered as a supplement to, and not as a substitute for, financial information prepared in accordance with GAAP. Investors are encouraged to review the reconciliation of these non-GAAP measures to their most directly comparable GAAP financial measures, which are included in this press release.
Non-GAAP EBIT and non-GAAP EBIT margin. These non-GAAP financial measures exclude noncash stock-based compensation expense and additional Federal Insurance Contribution Act (FICA) and related payroll tax expense incurred by Commvault related to stock-based compensation. Commvault has also excluded restructuring costs, noncash amortization of intangible assets, business combination costs, the change in the estimated fair value of contingent consideration, adjustments from the sale and leaseback of headquarters, non-recurring strategic pricing initiative costs, and other non-recurring charges from its non-GAAP results. These adjustments are further discussed in the reconciliation of GAAP to non-GAAP financial measures. Commvault believes that these non-GAAP financial measures are useful metrics for management and investors because they compare Commvault's core operating results over multiple periods. When evaluating the performance of Commvault's operating results and developing short- and long-term plans, Commvault does not consider such expenses.
Although noncash stock-based compensation expense and the additional FICA and related payroll tax expense are necessary to attract and retain employees, Commvault places its primary emphasis on stockholder dilution as compared to the accounting charges related to such equity compensation plans. Commvault believes that providing non-GAAP financial measures that exclude noncash stock-based compensation expense and the additional FICA and related payroll tax expense allow investors to make meaningful comparisons between Commvault's operating results and those of other companies.
There are a number of limitations related to the use of non-GAAP EBIT and non-GAAP EBIT margin. The most significant limitation is that these non-GAAP financial measures exclude certain operating costs, primarily related to noncash stock-based compensation, which is of a recurring nature. Noncash stock-based compensation has been, and will continue to be for the foreseeable future, a significant recurring expense in Commvault's operating results. In addition, noncash stock-based compensation is an important part of Commvault's employees' compensation and can have a significant impact on their performance. The following table presents the stock-based compensation expense included in cost of revenues, sales and marketing, research and development and general and administrative ($ in thousands):
Three Months Ended
September 30,
Six Months Ended
September 30,
2026
2025
2026
2025
Cost of revenues
$ 1,435
$ 1,323
$ 2,838
$ 2,572
Sales and marketing
14,642
12,757
28,810
25,343
Research and development
8,034
7,752
16,318
14,822
General and administrative
11,569
9,981
22,439
19,181
Stock-based compensation expense
$ 35,680
$ 31,813
$ 70,405
$ 61,918
The table above excludes stock-based compensation expense related to the Company's restructuring activities described below in Note 8.
The components that Commvault excludes in its non-GAAP financial measures may differ from the components that its peer companies exclude when they report their non-GAAP financial measures. Due to the limitations related to the use of non-GAAP measures, Commvault's management assists investors by providing a reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure. Commvault's management uses non-GAAP financial measures only in addition to, and in conjunction with, results presented in accordance with GAAP.
Non-GAAP net income and non-GAAP diluted earnings per share (EPS). In addition to the adjustments discussed in non-GAAP EBIT, non-GAAP net income and non-GAAP diluted EPS incorporates a non-GAAP effective tax rate of 24%.
Commvault anticipates that in any given period its non-GAAP tax rate may be either higher or lower than the GAAP tax rate as evidenced by historical fluctuations. Commvault defines its cash tax rate as the total amount of cash income taxes payable for the fiscal year divided by consolidated GAAP pre-tax income. Over time, Commvault believes its GAAP and cash tax rates will align.
Commvault considers non-GAAP net income and non-GAAP diluted EPS useful metrics for Commvault management and its investors for the same basic reasons that Commvault uses non-GAAP EBIT and non-GAAP EBIT margin. In addition, the same limitations as well as management actions to compensate for such limitations described above also apply to Commvault's use of non-GAAP net income and non-GAAP diluted EPS.
Non-GAAP free cash flow. Commvault defines this non-GAAP financial measure as net cash provided by operating activities less purchases of property and equipment. Commvault considers non-GAAP free cash flow a useful metric for Commvault management and its investors in evaluating Commvault's ability to generate cash from its business operations. In addition, the same limitations as well as management actions to compensate for such limitations described above also apply to Commvault's use of non-GAAP free cash flow.
Forward-looking non-GAAP measures. In this press release, Commvault presents non-GAAP EBIT margin and free cash flow on a forward-looking basis. The most directly comparable GAAP measures are not accessible on a forward-looking basis without unreasonable efforts, because certain items that impact these GAAP measures, cannot be reasonably predicted or quantified. The probable significance of these items may be material, and as a result, the corresponding GAAP measures and a quantitative reconciliation to those GAAP measures are not available on a forward-looking basis.
Notes
Beginning in fiscal 2027, Customer support revenue has been further disaggregated between support associated with term-based software license arrangements ("Term-based support") and support associated with perpetual software license arrangements ("Perpetual support"). Subscription revenue has also been reclassified to include Term-based support revenue, in addition to Term-based license and SaaS revenues. Prior period amounts have been reclassified to conform to the current period presentation. These reclassifications have no impact on total revenues, net income, or the underlying revenue recognition for these arrangements.In addition, Subscription ARR has been reclassified to include enterprise support, further aligning Subscription ARR with Subscription revenue. Enterprise support consists of recurring customer success services that provide our customers with enhanced support, strategic guidance and dedicated technical expertise, and is included in Term-based support. Prior to fiscal 2027, enterprise support was included only in Total ARR. Prior period amounts have been reclassified to conform to the current period presentation. Total ARR, which also included the annualized maintenance contract on perpetual licenses, is no longer disclosed.
Subscription ARR represents the annualized value of all active contracts as of the end of a reporting period attributable to term‑based licenses, maintenance and support services associated with term license arrangements, enterprise support, SaaS subscriptions, and consumption‑based arrangements, calculated by dividing the total active contract value by the number of days in the contract term and multiplying the result by 365. For consumption-based arrangements on a pay as you go model without a fixed commitment, the applicable ARR is calculated by annualizing the revenue contractually expected to be received in a given month based on actual monthly usage from a prior month. SaaS ARR includes only the cloud‑hosted portion of subscription ARR and is calculated using the same methodology. These metrics should be viewed independently of GAAP revenue, deferred revenue and unbilled revenue and are not intended to be combined with or to replace those items. These metrics are not a forecast of future revenues. Management believes that reviewing these metrics, in addition to GAAP results, helps investors and financial analysts understand the value of Commvault's recurring revenue streams presented on an annualized basis. There is no direct GAAP comparative to ARR.
A reconciliation of GAAP to non-GAAP results has been provided in the reconciliation of GAAP to non-GAAP financial measures included in this press release. An explanation of these measures is also included under the heading "Use of Non-GAAP Financial Measures."Commvault does not provide forward-looking guidance on a GAAP basis as certain financial information, the probable significance of which cannot be determined, is not available and cannot be reasonably estimated. See "Forward-looking non-GAAP measures" for additional explanation.Subscription net dollar retention rate ("Subscription NRR") includes all contracts attributable to term‑based licenses, maintenance and support services associated with term license arrangements, enterprise support, SaaS subscriptions, and consumption‑based arrangements. Subscription NRR is calculated as the percentage of subscription ARR retained from existing customers at the start of an annual period after accounting for expansion revenue, churn, and downgrades, measured on an annualized basis using the trailing four quarter average. Acquired subscription ARR is excluded until the acquisition is fully integrated, which we generally expect to occur twelve months from the close date. We believe our subscription NRR offers valuable insight into the year-over-year expansion of our existing customer base, reflecting both increased utilization of current products and services as well as the adoption of additional offerings. There is no direct GAAP comparative to NRR.Represents noncash stock-based compensation expense, exclusive of stock-based compensation expense related to Commvault's restructuring activities described below in Note 8.Represents additional FICA and related payroll tax expense incurred by Commvault related to stock-based compensation.Restructuring charges relate to two plans designed to optimize our cost structure, enhance organizational agility, align resources with strategic priorities, and reorganize our business technology function. These initiatives include workforce reductions, technology transitions, office lease closures, and the exit of operations in certain jurisdictions. The related charges primarily consist of severance and associated employee termination costs, stock‑based compensation expense resulting from modification events, and office closure and exit charges. As of September 30, 2026, the majority of these costs have been incurred and the remaining activities are anticipated to be completed in fiscal 2027.Represents noncash amortization of intangible assets.These charges relate to acquisition and business development activities, including legal, accounting and advisory services. Management believes, when used as a supplement to GAAP results, that the exclusion of these costs will help investors and financial analysts understand Commvault's operating results and underlying operational trends as compared to other periods.Represents the change in the estimated fair value of the contingent consideration arrangement related to the acquisition of Appranix, Inc.During the first quarter of fiscal 2026, we finalized the sale of our corporate headquarters and entered into a lease for a portion of the premises. These noncash charges represent accounting adjustments for a $1.3 million loss associated with the related lease terms and a $0.8 million adjustment to reflect the final sale price of the assets resulting in a net charge of $0.5 million recorded in general and administrative expense on the Consolidated Statements of Operations.These charges relate to a non-routine business expense incurred during the first quarter of fiscal 2027 associated with strategic pricing and packaging initiatives. Given the non-recurring nature of the matter, these costs have been excluded from non-GAAP results as they are episodic in nature, directly tied to a discrete strategic initiative, and not reflective of ongoing operating performance.These primarily legal and consulting expenses are related to our response in the second quarter of fiscal 2026 to a one-time security matter from the first quarter of fiscal 2026. Given the non-recurring nature of the matter, these costs have been excluded from non-GAAP results to provide a clearer view of ongoing operating performance.The provision for income taxes is adjusted to reflect Commvault's estimated non-GAAP effective tax rate of 24%. SOURCE COMMVAULT
LIBERTY LAKE, Wash., Oct. 27, 2026 (GLOBE NEWSWIRE) -- Itron, Inc. (NASDAQ: ITRI), which is innovating new ways for utilities and cities to manage energy and water, announced today financial results for its third quarter ended September 30, 2026. Key results for the quarter include (compared with the third quarter of 2025):
Revenue of $599 million, increased 3%;Annual recurring revenue of $423 million, increased 25%;GAAP net income attributable to Itron, Inc. of $71 million, increased $6 million;GAAP diluted earnings per share of $1.61, increased $0.20 per share;Non-GAAP diluted EPS of $1.94, increased $0.40 per share;Adjusted EBITDA of $115 million, increased 18%; andFree cash flow of $96 million, decreased $18 million. “Itron delivered a strong third quarter, with revenue returning to growth at the top end of our outlook, record adjusted EBITDA, and earnings well ahead of our expectations — demonstrating the earnings leverage of our stronger operating model,” said Tom Deitrich, Itron’s President and CEO. “Utilities’ needs for capacity, reliability, resiliency, and affordability continue to drive demand for our technology, while our expanding software and services portfolio is supporting recurring revenue growth.”
Summary of Third Quarter Consolidated Financial Results
(All comparisons made are against the prior year period unless otherwise noted)
Revenue
Total third quarter revenue of $599 million compared to $582 million in the prior year. The increase was driven primarily by growth in Outcomes and the contribution from Resiliency Solutions.
Device Solutions revenue decreased 2%, or 1% in constant currency due to lower legacy gas product sales.
Networked Solutions revenue decreased 1% due to the timing of project deployments.
Outcomes revenue increased 9% due to higher services revenue.
Resiliency Solutions revenue was $16 million.
Adjusted Gross Margin
Itron's third quarter adjusted gross margin of 41.3% increased 350 basis points from the prior year due to customer and product mix as well as operational efficiencies.
Operating Expenses and Operating Income
GAAP operating expenses of $149 million increased $12 million and non-GAAP operating expenses of $141 million increased $10 million from the prior year due to the Urbint and Locusview acquisitions.
GAAP operating income of $95 million was $14 million higher due to higher gross profit.
Non-GAAP operating income of $107 million was $18 million higher than the prior year due to higher gross profit, partially offset by higher operating expenses.
Net Income and Earnings per Share (EPS)
Net income attributable to Itron, Inc. for the quarter was $71 million, or $1.61 per diluted share, compared with net income attributable to Itron, Inc. of $66 million, or $1.41 per diluted share in 2025. The increase was driven by higher operating income.
Non-GAAP net income attributable to Itron, Inc., which excludes the expenses associated with amortization of intangible assets, amortization of debt placement fees, restructuring, loss on sale of business, strategic initiative expense, acquisition and integration related expenses, gain on the sale of equity method investments, and the tax effect of excluding these expenses, was $86 million, or $1.94 per diluted share, compared with $72 million, or $1.54 per diluted share, in 2025. The increase was driven by higher non-GAAP operating income and lower non-GAAP taxes.
Cash Flow
Net cash provided by operating activities was $102 million in the third quarter compared with $118 million in the prior year. Free cash flow was $96 million in the third quarter compared with $113 million in the prior year. The decrease in free cash flow was primarily due to changes in working capital, higher cash tax payments and lower interest income.
Other Measures
Total backlog at quarter end was $4.3 billion and bookings during the quarter totaled $482 million.
Q4 and Updated Full Year 2026 Outlook
Fourth Quarter 2026 financial outlook:
Revenue between $621 and $636 millionNon-GAAP diluted EPS between $1.70 and $1.80 Updated Full Year 2026 financial outlook:
Revenue between $2.37 and $2.385 billionNon-GAAP diluted EPS between $6.72 and $6.82 Earnings Conference Call
Itron will host a conference call to discuss the financial results contained in this release at 10:00 a.m. EDT on October 27, 2026. Interested parties may listen to the conference call on a live webcast. The webcast, along with a supplemental presentation, may be accessed from the company’s website at https://investors.itron.com/events-presentations. Participants should access the webcast 10 minutes prior to the start of the call. A webcast replay of the conference call may be accessed on the company's website at https://investors.itron.com/events-presentations.
About Itron
Itron is a proven global leader in energy, water, smart city, IIoT and intelligent infrastructure services. For utilities, cities and society, we build innovative systems, create new efficiencies, connect communities, encourage conservation and increase resourcefulness. By safeguarding our invaluable natural resources today and tomorrow, we improve the quality of life for people around the world. Join us: www.itron.com
Itron® and the Itron Logo are registered trademarks of Itron, Inc. in the United States and other countries and regions. All third-party trademarks are property of their respective owners and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly stated.
Cautionary Note Regarding Forward Looking Statements
This release contains, and our officers and representatives may from time to time make, "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical factors nor assurances of future performance. These statements are based on our expectations about, among others, revenues, operations, financial performance, earnings, liquidity, earnings per share, cash flows and restructuring activities including headcount reductions and other cost savings initiatives. This document reflects our current strategy, plans and expectations and is based on information currently available as of the date of this release. When we use words such as "expect", "intend", "anticipate", "believe", "plan", "goal", "seek", "project", "estimate", "future", "strategy", "objective", "may", "likely", "should", "will", "will continue", and similar expressions, including related to future periods, they are intended to identify forward-looking statements. Forward-looking statements rely on a number of assumptions and estimates. Although we believe the estimates and assumptions upon which these forward-looking statements are based are reasonable, any of these estimates or assumptions could prove to be inaccurate and the forward-looking statements based on these estimates and assumptions could be incorrect. Our operations involve risks and uncertainties, many of which are outside our control, and any one of which, or a combination of which, could materially affect our results of operations and whether the forward-looking statements ultimately prove to be correct. Actual results and trends in the future may differ materially from those suggested or implied by the forward-looking statements depending on a variety of factors. Therefore, you should not rely on any of these forward-looking statements. Some of the factors that we believe could affect our results include our ability to execute on our restructuring plans, our ability to achieve estimated cost savings, the rate and timing of customer demand for our products, rescheduling of current customer orders, changes in estimated liabilities for product warranties, adverse impacts of litigation, changes in laws, regulations, tariffs, sanctions, trade policies and retaliatory responses, our dependence on new product development and intellectual property, future acquisitions, changes in estimates for stock-based and bonus compensation, increasing volatility in foreign exchange rates, international business risks, uncertainties caused by adverse economic conditions, including without limitation those resulting from extraordinary events or circumstances and other factors that are more fully described in Part I, Item 1A: Risk Factors included in our Annual Report on Form 10-K for the year ended Dec 31, 2025 and other reports on file with the Securities and Exchange Commission. Itron undertakes no obligation to update or revise any information in this press release.
Non-GAAP Financial Information
To supplement our consolidated financial statements, which are prepared in accordance with accounting principles generally accepted in the United States (GAAP), we use certain adjusted or non-GAAP financial measures, including non-GAAP operating expense, non-GAAP operating income, non-GAAP net income, non-GAAP diluted earnings per share (EPS), adjusted EBITDA, free cash flow, adjusted gross profit, adjusted operating income, and constant currency. We provide these non-GAAP financial measures because we believe they provide greater transparency and represent supplemental information used by management in its financial and operational decision making. We exclude certain costs in our non-GAAP financial measures as we believe the net result is a measure of our core business. We believe these measures facilitate operating performance comparisons from period to period by eliminating potential differences caused by the existence and timing of certain expense items that would not otherwise be apparent on a GAAP basis. Non-GAAP performance measures should be considered in addition to, and not as a substitute for, results prepared in accordance with GAAP. We strongly encourage investors and shareholders to review our financial statements and publicly-filed reports in their entirety and not to rely on any single financial measure. Our non-GAAP financial measures may be different from those reported by other companies. When providing future outlooks and/or earnings guidance, a reconciliation of forward-looking non-GAAP diluted EPS to the GAAP diluted EPS has not been provided because we are unable to predict with reasonable certainty the potential amount or timing of restructuring related expenses and their related tax effects without unreasonable effort. These costs are uncertain, depend on various factors and could have a material impact on GAAP results for the guidance period. A more detailed discussion of why we use non-GAAP financial measures, the limitations of using such measures, and reconciliations between non-GAAP and the nearest GAAP financial measures are included in this press release.
For additional information, contact:
Itron, Inc.
Paul Vincent
Vice President, Investor Relations
(512) 560-1172
Stephanie Tarlton, CFA
Principal, Investor Relations
(512) 676-8365
[email protected]
Itron, Inc.
LinkedIn: https://www.linkedin.com/company/itronincX: https://x.com/ItronIncNewsroom: https://na.itron.com/newsroomBlog: https://blogs.itron.com ITRON, INC.CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited, in thousands, except per share data) Three Months Ended
September 30, Nine Months Ended
September 30, 2026 2025 2026 2025 Revenues Product revenues$489,002 $494,323 $1,420,265 $1,534,648 Service revenues 110,331 87,302 328,952 260,889 Total revenues 599,333 581,625 1,749,217 1,795,537 Cost of revenues Product cost of revenues 302,831 319,238 883,732 1,003,074 Service cost of revenues 51,632 42,842 153,656 132,081 Total cost of revenues 354,463 362,080 1,037,388 1,135,155 Gross profit 244,870 219,545 711,829 660,382 Operating expenses Sales, general and administrative 84,067 83,139 279,146 257,665 Research and development 56,957 50,032 168,097 153,932 Amortization of intangible assets 8,460 4,403 25,110 13,425 Restructuring (102) 188 345 872 Loss on sale of business — — — 79 Total operating expenses 149,382 137,762 472,698 425,973 Operating income 95,488 81,783 239,131 234,409 Other income (expense) Interest income 7,194 13,569 19,107 37,582 Interest expense (5,863) (5,647) (17,440) (16,888) Other income (expense), net 202 996 3,624 1,359 Total other income (expense) 1,533 8,918 5,291 22,053 Income before income taxes 97,021 90,701 244,422 256,462 Income tax provision (25,750) (24,478) (66,092) (56,137)Net income 71,271 66,223 178,330 200,325 Net income (loss) attributable to noncontrolling interests (98) 610 230 898 Net income attributable to Itron, Inc.$71,369 $65,613 $178,100 $199,427 Net income per common share - Basic$1.63 $1.43 $4.03 $4.38 Net income per common share - Diluted$1.61 $1.41 $3.97 $4.30 Weighted average common shares outstanding - Basic 43,812 45,746 44,210 45,574 Weighted average common shares outstanding - Diluted 44,411 46,660 44,827 46,405 ITRON, INC.SEGMENT INFORMATION (Unaudited, in thousands) Three Months Ended
September 30, Nine Months Ended
September 30, 2026 2025 2026 2025 Product revenues Device Solutions$101,189 $103,097 $335,857 $340,423 Networked Solutions 359,581 365,378 989,929 1,119,381 Outcomes 27,276 25,848 92,031 74,844 Resiliency Solutions 956 — 2,448 — Total Company$489,002 $494,323 $1,420,265 $1,534,648 Service revenues Device Solutions$331 $525 $1,485 $1,830 Networked Solutions 29,921 28,324 89,474 85,987 Outcomes 64,965 58,453 192,519 173,072 Resiliency Solutions 15,114 — 45,474 — Total Company$110,331 $87,302 $328,952 $260,889 Total revenues Device Solutions$101,520 $103,622 $337,342 $342,253 Networked Solutions 389,502 393,702 1,079,403 1,205,368 Outcomes 92,241 84,301 284,550 247,916 Resiliency Solutions 16,070 — 47,922 — Total Company$599,333 $581,625 $1,749,217 $1,795,537 Adjusted gross profit Device Solutions$35,900 $32,007 $118,678 $103,351 Networked Solutions 162,685 154,761 450,912 460,718 Outcomes 36,902 32,777 114,306 96,313 Resiliency Solutions 11,953 — 35,568 — Total Company$247,440 $219,545 $719,464 $660,382 Adjusted segment operating income Device Solutions$28,851 $24,875 $97,264 $80,800 Networked Solutions 130,420 121,880 352,617 358,988 Outcomes 18,828 16,806 61,725 46,823 Resiliency Solutions 4,213 — 12,920 — Total Company$182,312 $163,561 $524,526 $486,611 Adjusted Gross Margin 41.3% 37.7% 41.1% 36.8% ITRON, INC.CONSOLIDATED BALANCE SHEETS (Unaudited, in thousands)September 30, 2026 December 31, 2025ASSETS Current assets Cash and cash equivalents$840,323 $1,020,397 Accounts receivable, net 380,063 367,794 Inventories 280,972 242,886 Other current assets 182,972 191,241 Total current assets 1,684,330 1,822,318 Property, plant, and equipment, net 120,634 112,193 Deferred tax assets, net 258,787 265,183 Other long-term assets 61,870 63,352 Operating lease right-of-use assets, net 45,937 29,341 Intangible assets, net 255,052 83,337 Goodwill 1,690,417 1,344,983 Total assets$4,117,027 $3,720,707 LIABILITIES AND EQUITY Current liabilities Accounts payable$193,960 $156,288 Other current liabilities 40,568 58,864 Wages and benefits payable 104,800 122,245 Taxes payable 27,687 16,618 Current portion of debt, net — 459,522 Current portion of warranty 9,847 10,868 Unearned revenue 218,971 187,822 Total current liabilities 595,833 1,012,227 Long-term debt, net 1,577,039 788,805 Long-term warranty 7,200 7,350 Pension benefit obligation 59,804 61,998 Deferred tax liabilities, net 1,413 623 Operating lease liabilities 40,907 19,623 Other long-term obligations 115,519 91,885 Total liabilities 2,397,715 1,982,511 Equity Common stock 1,485,168 1,661,350 Accumulated other comprehensive loss, net (76,271) (56,505) Retained earnings 289,851 111,751 Total Itron, Inc. shareholders' equity 1,698,748 1,716,596 Noncontrolling interests 20,564 21,600 Total equity 1,719,312 1,738,196 Total liabilities and equity$4,117,027 $3,720,707 ITRON, INC.CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited, in thousands)Nine Months Ended September 30, 2026 2025 Operating activities Net income$178,330 $200,325 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization of intangible assets 55,602 36,221 Non-cash operating lease expense 9,889 8,856 Stock-based compensation 44,527 47,819 Amortization of prepaid debt fees 5,765 5,401 Deferred taxes, net (5,062) 48,860 Loss on sale of business — 79 Restructuring, non-cash 462 (25) Other adjustments, net (3,248) (531)Changes in operating assets and liabilities, net of acquisition and sale of business: Accounts receivable (6,664) (12,127) Inventories (40,344) 19,828 Other current assets 5,705 (40,295) Other long-term assets 161 6,918 Accounts payable, other current liabilities, and taxes payable 27,932 (5,959) Wages and benefits payable (20,534) (30,801) Unearned revenue 32,960 34,320 Warranty (1,141) (2,404) Restructuring (8,345) (16,445) Other operating, net (450) (13,409) Net cash provided by operating activities 275,545 286,631 Investing activities Net proceeds related to the sale of business — 278 Acquisitions of property, plant, and equipment (19,540) (15,077) Business acquisitions, net of cash and cash equivalents acquired (514,888) — Other investing, net 3,098 (1,995) Net cash used in investing activities (531,330) (16,794) Financing activities Proceeds from borrowings 805,000 — Payments on debt (460,000) — Issuance of common stock 2,788 6,332 Payments on call spread for convertible offering (92,817) — Repurchase of common stock (152,234) — Prepaid debt fees (21,600) (2,207) Other financing, net (2,006) (2,288) Net cash provided by financing activities 79,131 1,837 Effect of foreign exchange rate changes on cash and cash equivalents (3,420) 9,033 Increase (decrease) in cash and cash equivalents (180,074) 280,707 Cash and cash equivalents at beginning of period 1,020,397 1,051,237 Cash and cash equivalents at end of period$840,323 $1,331,944 About Non-GAAP Financial Measures
To supplement our consolidated financial statements, which are prepared in accordance with GAAP, we use certain non-GAAP financial measures, including non-GAAP operating expense, non-GAAP operating income, non-GAAP net income, non-GAAP diluted EPS, adjusted EBITDA, free cash flow, adjusted gross profit, adjusted operating income, and constant currency. The presentation of this financial information is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP, and other companies may define such measures differently. For a reconciliation of each non-GAAP measure to the most comparable financial measure prepared and presented in accordance with GAAP, please see the table captioned Reconciliations of Non-GAAP Financial Measures to the Most Directly Comparable GAAP Financial Measures.
We use these non-GAAP financial measures for financial and operational decision making and/or as a means for determining executive compensation. Management believes that these non-GAAP financial measures provide meaningful supplemental information regarding our performance and ability to service debt by excluding certain expenses that may not be indicative of our recurring core operating results. These non-GAAP financial measures facilitate management's internal comparisons to our historical performance, as well as comparisons to our competitors' operating results. Our executive compensation plans exclude non-cash charges related to amortization of intangibles and depreciation of property, plant, and equipment and certain discrete cash and non-cash charges, such as restructuring, loss on sale of business, strategic initiative expenses, or acquisition and integration related expenses. We believe that both management and investors benefit from referring to these non-GAAP financial measures in assessing our performance and when planning, forecasting and analyzing future periods. We believe these non-GAAP financial measures are useful to investors because they provide greater transparency with respect to key metrics used by management in its financial and operational decision making and because they are used by our institutional investors and the analyst community to analyze the health of our business.
Non-GAAP operating expenses and non-GAAP operating income – We define non-GAAP operating expenses as operating expenses excluding certain expenses related to the amortization of intangible assets, restructuring, loss on sale of business, strategic initiative expenses, and acquisition and integration related expenses. We define non-GAAP operating income as operating income excluding the expenses related to the amortization of intangible assets, restructuring, loss on sale of business, strategic initiative expenses, and acquisition and integration related expenses. Acquisition and integration related expenses include costs, which are incurred to affect and integrate business combinations, such as professional fees; certain employee retention and salaries related to integration; employee severance; contract terminations; travel costs related to knowledge transfer; system conversion costs; and asset impairment charges. We consider these non-GAAP financial measures to be useful metrics for management and investors because they exclude the effect of expenses that are not related to our core operating results. By excluding these expenses, we believe that it is easier for management and investors to compare our financial results over multiple periods and analyze trends in our operations. For example, in certain periods, expenses related to amortization of intangible assets may decrease, which would improve GAAP operating margins, yet the improvement in GAAP operating margins due to this lower expense is not necessarily reflective of an improvement in our core business. There are some limitations related to the use of non-GAAP operating expenses and non-GAAP operating income versus operating expenses and operating income calculated in accordance with GAAP. We compensate for these limitations by providing specific information about the GAAP amounts excluded from non-GAAP operating expense and non-GAAP operating income and evaluating non-GAAP operating expense and non-GAAP operating income together with GAAP operating expense and operating income.
Non-GAAP net income and non-GAAP diluted EPS – We define non-GAAP net income as net income attributable to Itron, Inc. excluding the expenses associated with amortization of intangible assets, amortization of debt placement fees, restructuring, loss on sale of business, strategic initiative expenses, acquisition and integration related expenses, gain on sale of equity method investment, and the tax effect of excluding these expenses. We define non-GAAP diluted EPS as non-GAAP net income divided by diluted weighted-average shares outstanding during the period calculated on a GAAP basis and then reduced to reflect any anti-dilutive impact of the convertible notes hedge transactions. We consider these financial measures to be useful metrics for management and investors for the same reasons that we use non-GAAP operating income. The same limitations described above regarding our use of non-GAAP operating income apply to our use of non-GAAP net income and non-GAAP diluted EPS. We compensate for these limitations by providing specific information regarding the GAAP amounts excluded from these non-GAAP measures and evaluating non-GAAP net income and non-GAAP diluted EPS together with GAAP net income attributable to Itron, Inc. and GAAP diluted EPS.
For interim periods the budgeted annual effective tax rate (AETR) is used, adjusted for any discrete items, as defined in Accounting Standards Codification (ASC) 740 - Income Taxes. The budgeted AETR is determined at the beginning of the fiscal year. The AETR is revised throughout the year based on changes to our full-year forecast. If the revised AETR increases or decreases by 200 basis points or more from the budgeted AETR due to changes in the full-year forecast during the year, the revised AETR is used in place of the budgeted AETR beginning with the quarter the 200 basis point threshold is exceeded and going forward for all subsequent interim quarters in the year. We continue to assess the AETR based on latest forecast throughout the year and use the most recent AETR any time it increases or decreases by 200 basis points or more from the prior interim period.
Adjusted EBITDA – We define adjusted EBITDA as net income (a) minus interest income and gain on sale of equity method investment, (b) plus interest expense, depreciation and amortization, restructuring, loss on sale of business, strategic initiative expenses, acquisition and integration related expenses, and (c) excluding income tax provision or benefit. Management uses adjusted EBITDA as a performance measure for executive compensation. A limitation to using adjusted EBITDA is that it does not represent the total increase or decrease in the cash balance for the period and the measure includes some non-cash items and excludes other non-cash items. Additionally, the items that we exclude in our calculation of adjusted EBITDA may differ from the items that our peer companies exclude when they report their results. We compensate for these limitations by providing a reconciliation of this measure to GAAP net income.
Free cash flow – We define free cash flow as net cash provided by operating activities less cash used for acquisitions of property, plant and equipment. We believe free cash flow provides investors with a relevant measure of liquidity and a useful basis for assessing our ability to fund our operations and repay our debt. The same limitations described above regarding our use of adjusted EBITDA apply to our use of free cash flow. We compensate for these limitations by providing specific information regarding the GAAP amounts in the reconciliation.
Adjusted gross profit – We define adjusted gross profit as gross profit excluding the amortization expense of core-developed technology intangible assets.
Adjusted operating income – We define adjusted operating income as operating income excluding the amortization of core-developed technology intangible assets.
Constant currency – We refer to the impact of foreign currency exchange rate fluctuations in our discussions of financial results, which references the differences between the foreign currency exchange rates used to translate operating results from the entity's functional currency into U.S. dollars for financial reporting purposes. We also use the term "constant currency", which represents financial results adjusted to exclude changes in foreign currency exchange rates as compared with the rates in the comparable prior year period. We calculate the constant currency change as the difference between the current period results and the comparable prior period's results restated using current period foreign currency exchange rates.
The tables below reconcile the non-GAAP financial measures of operating expenses, operating income, net income, diluted EPS, adjusted EBITDA, and free cash flow with the most directly comparable GAAP financial measures.
ITRON, INC.RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURESTO THE MOST DIRECTLY COMPARABLE GAAP FINANCIAL MEASURES(Unaudited, in thousands, except per share data) TOTAL COMPANY RECONCILIATIONSThree Months Ended September 30, Nine Months Ended September 30, 2026 2025 2026 2025 NON-GAAP OPERATING EXPENSES GAAP operating expenses$149,382 $137,762 $472,698 $425,973 Amortization of intangible assets(1) (8,460) (4,403) (25,110) (13,425) Restructuring 102 (188) (345) (872) Loss on sale of business — — — (79) Strategic initiative (133) (1,566) (608) (1,566) Acquisition and integration (245) (1,286) (7,474) (1,370) Non-GAAP operating expenses$140,646 $130,319 $439,161 $408,661 NON-GAAP OPERATING INCOME GAAP operating income$95,488 $81,783 $239,131 $234,409 Amortization of intangible assets 11,030 4,403 32,745 13,425 Restructuring (102) 188 345 872 Loss on sale of business — — — 79 Strategic initiative 133 1,566 608 1,566 Acquisition and integration 245 1,286 7,474 1,370 Non-GAAP operating income$106,794 $89,226 $280,303 $251,721 NON-GAAP NET INCOME & DILUTED EPS GAAP net income attributable to Itron, Inc.$71,369 $65,613 $178,100 $199,427 Amortization of intangible assets 11,030 4,403 32,745 13,425 Amortization of debt placement fees 1,956 1,777 5,711 5,271 Restructuring (102) 188 345 872 Loss on sale of business — — — 79 Strategic initiative 133 1,566 608 1,566 Gain on sale of equity method investment — — (3,249) — Acquisition and integration 245 1,286 7,474 1,370 Income tax effect of non-GAAP adjustments 1,702 (3,021) 3,018 (4,974) Non-GAAP net income attributable to Itron, Inc.$86,333 $71,812 $224,752 $217,036 Non-GAAP diluted EPS$1.94 $1.54 $5.01 $4.68 GAAP weighted average common shares outstanding - Diluted 44,411 46,660 44,827 46,405 Effect of call option transaction - 2021 Notes — (34) — (11) Non-GAAP weighted average common shares outstanding - Diluted 44,411 46,626 44,827 46,394 (1) Excludes amortization of core-developed technology intangible assets.
ITRON, INC.RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURESTO THE MOST DIRECTLY COMPARABLE GAAP FINANCIAL MEASURES(Unaudited, in thousands) TOTAL COMPANY RECONCILIATIONSThree Months Ended September 30, Nine Months Ended September 30, 2026 2025 2026 2025 ADJUSTED EBITDA GAAP net income attributable to Itron, Inc.$71,369 $65,613 $178,100 $199,427 Interest income (7,194) (13,569) (19,107) (37,582) Interest expense 5,863 5,647 17,440 16,888 Income tax provision 25,750 24,478 66,092 56,137 Depreciation and amortization 18,440 12,039 55,602 36,221 Restructuring (102) 188 345 872 Loss on sale of business — — — 79 Strategic initiative 133 1,566 608 1,566 Acquisition and integration 245 1,286 7,474 1,370 Gain on sale of equity method investment — — (3,249) — Adjusted EBITDA$114,504 $97,248 $303,305 $274,978 FREE CASH FLOW Net cash provided by operating activities$101,953 $117,829 $275,545 $286,631 Acquisitions of property, plant, and equipment (6,408) (4,421) (19,540) (15,077) Free Cash Flow$95,545 $113,408 $256,005 $271,554 The tables below reconcile the non-GAAP financial measure of adjusted gross profit with the most directly comparable GAAP financial measure.
TOTAL COMPANY RECONCILIATIONS Three months ended September 30, 2026(Unaudited, in thousands) Device Solutions Networked Solutions Outcomes Resiliency Solutions Segments SubtotalTotal revenues $101,520 $389,502 $92,241 $16,070 $599,333 Total cost of revenues 65,620 226,817 55,964 6,062 354,463 Gross profit 35,900 162,685 36,277 10,008 244,870 Gross margin 35.4% 41.8% 39.3% 62.3% 40.9%Amortization of core-developed technology intangible assets $— $— $625 $1,945 $2,570 Adjusted gross profit 35,900 162,685 36,902 11,953 247,440 Adjusted gross margin 35.4% 41.8% 40.0% 74.4% 41.3% Three Months Ended September 30, 2025 (Unaudited, in thousands) Device Solutions Networked Solutions Outcomes Segments Subtotal Total revenues $103,622 $393,702 $84,301 $581,625 Total cost of revenues 71,615 238,941 51,524 362,080 Gross profit 32,007 154,761 32,777 219,545 Gross margin 30.9% 39.3% 38.9% 37.7% Amortization of core-developed technology intangible assets $— $— $— $— Adjusted gross profit 32,007 154,761 32,777 219,545 Adjusted gross margin 30.9% 39.3% 38.9% 37.7% TOTAL COMPANY RECONCILIATIONS Nine months ended September 30, 2026(Unaudited, in thousands) Device Solutions Networked Solutions Outcomes Resiliency Solutions Segments SubtotalTotal revenues $337,342 $1,079,403 $284,550 $47,922 $1,749,217 Total cost of revenues 218,664 628,491 172,119 18,114 1,037,388 Gross profit 118,678 450,912 112,431 29,808 711,829 Gross margin 35.2% 41.8% 39.5% 62.2% 40.7%Amortization of core-developed technology intangible assets $— $— $1,875 $5,760 $7,635 Adjusted gross profit 118,678 450,912 114,306 35,568 719,464 Adjusted gross margin 35.2% 41.8% 40.2% 74.2% 41.1% Nine Months Ended September 30, 2025 (Unaudited, in thousands) Device Solutions Networked Solutions Outcomes Segments Subtotal Total revenues $342,253 $1,205,368 $247,916 $1,795,537 Total cost of revenues 238,902 744,650 151,603 1,135,155 Gross profit 103,351 460,718 96,313 660,382 Gross margin 30.2% 38.2% 38.8% 36.8% Amortization of core-developed technology intangible assets $— $— $— $— Adjusted gross profit 103,351 460,718 96,313 660,382 Adjusted gross margin 30.2% 38.2% 38.8% 36.8%
Polaris Inc (PII - Free Report) came out with quarterly earnings of $1.08 per share, beating the Zacks Consensus Estimate of $0.62 per share. This compares to earnings of $0.41 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +74.19%. A quarter ago, it was expected that this snowmobile and ATV maker would post earnings of $0.77 per share when it actually produced earnings of $1.97, delivering a surprise of +155.84%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Polaris Inc, which belongs to the Zacks Automotive - Domestic industry, posted revenues of $2.04 billion for the quarter ended September 2026, surpassing the Zacks Consensus Estimate by 6.59%. This compares to year-ago revenues of $1.84 billion. 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.
Polaris Inc shares have lost about 12.8% since the beginning of the year versus the S&P 500's gain of 12.1%.
What's Next for Polaris Inc?While Polaris 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 Polaris 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 $0.53 on $1.9 billion in revenues for the coming quarter and $3.22 on $7.47 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, Automotive - Domestic is currently in the bottom 16% 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.
Harley-Davidson (HOG - Free Report) , another stock in the same industry, has yet to report results for the quarter ended September 2026. The results are expected to be released on October 29.
This motorcycle maker is expected to post quarterly earnings of $0.43 per share in its upcoming report, which represents a year-over-year change of -86.1%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Harley-Davidson's revenues are expected to be $1.05 billion, down 2.6% from the year-ago quarter.
Euronet snížil výhled pro rok 2026 na tržby ve výši 4,375 mld. USD a upravenou EBITDA ve výši 725 mil. USD kvůli tlaku v oblasti přeshraničních plateb.
Highlights reflecting key achievements supporting the Company’s strategy and digital goals:
Revenue from the digital accelerators introduced at the Company’s Investor Day(*) increased 33% for the nine months ended September 30, 2026 and represented 26% of year-to-date revenues, demonstrating strong momentum for the continued investments in these strategic initiatives, such as Ria digital, merchant acquiring and the Ren product suite.Signed a letter of intent to collaborate globally with Diebold Nixdorf to transform ATM networksUnveiled OLON, a unified commerce ecosystem to accelerate merchant growthRepurchased $50 million of common stock, representing approximately 690,000 shares, during the quarter, reflecting disciplined capital allocation.Digital transactions within the Cross-Border Payments segment increased 34% in the third quarter of 2026 compared to the prior year period. * See the Investor Day presentation at http://ir.euronetworldwide.com.
LEAWOOD, Kan., Oct. 27, 2026 (GLOBE NEWSWIRE) -- Euronet (“Euronet” or the “Company”) (Nasdaq: EEFT), a global leader in payment processing and cross-border transactions, announced today third quarter 2026 financial results.
Euronet reports the following consolidated results for the third quarter 2026 compared with the same period of 2025:
Revenues of $1,161.1 million, a 1% increase from $1,145.7 million (3% increase on a constant currency1 basis).Operating income of $171.6 million, a 12% decrease from $195.0 million (10% decrease on a constant currency basis).Adjusted operating income2 of $169.9 million, a 13% decrease from $195.0 million (11% decrease on a constant currency basis, 8% decrease after excluding $4.7 million of incremental non-cash purchase price amortization).Adjusted EBITDA3 of $226.1 million, an 8% decrease from $244.6 million (6% decrease on a constant currency basis).Net income attributable to Euronet of $113.6 million, or $2.53 diluted earnings per share, compared with $122.0 million, or $2.75 diluted earnings per share.Adjusted earnings per share4 of $3.55 decreased 2% from $3.62 in the prior year period. See the reconciliation of non-GAAP items in the attached financial schedules.
“Our third-quarter results reflect the continued impact of U.S. immigration policy and global economic pressures on the Cross Border Payments segment, which has persisted longer than we anticipated,” said Michael J. Brown, Chairman and Chief Executive Officer of Euronet Worldwide. “While these results are below our expectations and our historical performance, we continued to see growth in the digital accelerators we introduced during our Investor Day in May. Year-to-date, these accelerators have grown 33%, reflecting the benefit of our continued investment in these strategic initiatives.
The Payments Infrastructure segment benefitted from the acquisition of CoreCard, together with growth in merchant acquiring and Ren sales. The epay segment had a solid quarter from continued growth in digital content and promotional campaigns executed during the quarter. During the quarter, we also returned another $50 million to shareholders through share repurchases.
While we remain confident in the long-term growth opportunities across our businesses, the persistent pressures experienced this quarter in Cross-Border Payments, together with broader macroeconomic pressures and FX conversion rates changes, have caused us to revise our 2026 outlook from the targets provided during our Investor Day in May. We now expect approximately $4.375 billion of revenue, approximately $725 million of Adjusted EBITDA and adjusted EPS growth of approximately 10%. Although these near-term challenges are disappointing, our digital accelerator strategy continues to demonstrate the growth necessary to generate strong cash flow and create long-term shareholder value.”
Segment and Other Results
The Payments Infrastructure Segment (formerly EFT Processing Segment) reports the following results for the third quarter 2026 compared with the same period or date in 2025:
Revenues of $437.9 million, a 7% increase from $409.4 million (9% increase on a constant currency basis).Operating income of $128.2 million, or less than 1% increase from $128.1 million (2% increase on a constant currency basis).Adjusted operating income of $126.5 million, a 1% decrease from $128.1 million (no change on a constant currency basis).Adjusted EBITDA of $157.9 million, a 2% increase from $154.7 million (4% increase on a constant currency basis).Total of 59,688 installed ATMs as of September 30, 2026, a 4% increase from 57,534 as of September 30, 2025. Total of 58,420 active ATMs as of September 30, 2026, a 4% increase from 56,431 as of September 30, 2025. Constant currency revenue growth was driven by continued growth in merchant acquiring, Ren sales, and the fourth quarter 2025 acquisition of CoreCard, partially offset by continued economic pressures on discretionary travel spend which negatively affects international ATM cash withdrawals. Adjusted EBITDA and operating income were impacted by continued cost inflation. Third quarter 2026 adjusted operating income also includes $1.7 million of additional expense related to a timing difference between a cash rebate payment and the U.S. GAAP purchase accounting expense recognition related to a prior acquisition. Adjusted operating income includes a $4.7 million increase in non-cash purchase price amortization related to the CoreCard acquisition. Excluding this additional amortization, constant currency adjusted operating income would have increased 4%.
The epay Segment reports the following results for the third quarter 2026 compared with the same period or date in 2025:
Revenues of $294.7 million, a 3% increase from $286.5 million (5% increase on a constant currency basis).Operating income of $31.8 million, a 3% increase from $31.0 million (5% increase on a constant currency basis).Adjusted EBITDA of $33.4 million, a 3% increase from $32.5 million (6% increase on a constant currency basis).Transactions of 1,191 million, an 4% increase from 1,148 million.POS terminals of approximately 736,000 as of September 30, 2026, a 3% increase from approximately 712,000.Retailer locations of approximately 357,000 as of September 30, 2026, a 3% increase from approximately 346,000. Constant currency revenue and operating income each increased 5% and adjusted EBITDA increased 6% as a result of continued demand for higher-value digital content, merchant acquiring and promotional campaigns.
The Cross-Border Payments Segment (formerly known as Money Transfer Segment) reports the following results for the third quarter 2026 compared with the same period or date in 2025:
Revenues of $431.0 million, a 5% decrease from $452.4 million (4% decrease on a constant currency basis).Operating income of $37.3 million, a 37% decrease from $59.3 million (35% decrease on a constant currency basis).
Adjusted EBITDA of $43.6 million, a 34% decrease from $65.9 million (32% decrease on a constant currency basis).Total transactions of 45.3 million, a 2% decrease from 46.0 million.Total digital transactions of 8.1 million, a 34% increase from 6.1 million.Network locations of approximately 654,000 as of September 30, 2026, a 3% increase from approximately 638,000. Constant currency revenue was impacted by continued pressure from U.S. immigration policy and broader global economic uncertainty, partially offset by continued strength in the digital business, with digital transactions growing 34% and continued momentum in our Dandelion cross-border payments platform.
Declines in constant currency operating income and adjusted EBITDA were principally the result of the flow through of the revenue declines to the bottom line and approximately $6 million incremental investment in digital initiatives.
On a sequential quarterly basis, the third quarter constant currency revenue decline of 4% improved slightly over the second quarter decline of 5%. The sequential changes were the result of stable to improving trends in many of our international markets. Pressure persisted primarily in the U.S. market, but the last few months have shown stabilizing to modestly improving trends. While these trends are encouraging, we believe the market remains fragile in the context of the current geopolitical environment.
Corporate and Other reports $25.7 million of expense for the third quarter 2026 compared with $23.4 million for the third quarter 2025. The increase in corporate expenses was primarily driven by a $1.9 million increase in long-term share-based compensation.
Balance Sheet and Financial Position
Total cash, including ATM cash, unrestricted cash and cash equivalents and restricted cash, was $1,887.9 million as of September 30, 2026, compared to $2,220.7 million at June 30, 2026. Total indebtedness was $2,177.3 million, down from $2,654.0 million at June 30, 2026. Availability under the Company's revolving credit facilities was approximately $1.1 billion.
Total indebtedness decreased by $476.7 million during the quarter, reflecting the seasonal return of ATM cash following the peak European travel season and cash generated from operations, partially offset by $50 million of share repurchases.
The Company remains committed to reducing its debt balances in order to maintain its investment-grade credit rating.
Outlook
The Company is revising its 2026 outlook previously provided at its Investor Day in May to approximately $4.375 billion of revenue, approximately $725 million of Adjusted EBITDA and adjusted earnings per share growth of approximately 10% year-over-year. The revised outlook reflects immigration-related pressures within the Cross-Border Payments segment in several key corridors, broader global economic pressures and FX conversion rate changes. This outlook does not include any further changes that may develop in foreign exchange rates, interest rates or other unforeseen factors.
Non-GAAP Measures
In addition to the results presented in accordance with U.S. GAAP, the Company presents non-GAAP financial measures, such as constant currency financial measures, adjusted EBITDA, adjusted operating income and adjusted earnings per share. These measures should be used in addition to, and not a substitute for, revenues, operating income, net income and earnings per share computed in accordance with U.S. GAAP. We believe that these non-GAAP measures provide useful information to investors regarding the Company's performance and overall results of operations. These non-GAAP measures are also an integral part of the Company's internal reporting and performance assessment for executives and senior management. The non-GAAP measures used by the Company may not be comparable to similarly titled non-GAAP measures used by other companies. The attached schedules provide a full reconciliation of these non-GAAP financial measures to their most directly comparable U.S. GAAP financial measure.
The Company does not provide a reconciliation of its forward-looking non-GAAP measures to GAAP due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for GAAP and the related GAAP and non-GAAP reconciliation, including adjustments that would be necessary for foreign currency exchange rate fluctuations and other charges reflected in the Company's reconciliation of historic numbers, the amount of which, based on historical experience, could be significant.
(1) Constant currency financial measures are computed as if foreign currency exchange rates did not change from the prior period. This information is provided to illustrate the impact of changes in foreign currency exchange rates on the Company's results when compared to the prior period.
(2) Adjusted operating income is defined as operating income excluding, to the extent incurred in the period, a non-cash accrual adjustment. Adjusted operating income represents a performance measure and is not intended to represent a liquidity measure.
(3) Adjusted EBITDA is defined as net income excluding, to the extent incurred in the period, interest expense, income tax expense, depreciation, amortization, share-based compensation and other non-operating or non-recurring items that are considered expenses or income under U.S. GAAP. Adjusted EBITDA represents a performance measure and is not intended to represent a liquidity measure.
(4) Adjusted earnings per share is defined as diluted U.S. GAAP earnings per share excluding, to the extent incurred in the period, the tax-effected impacts of: a) foreign currency exchange gains or losses, b) share-based compensation, c) acquired intangible asset amortization, d) non-cash income tax expense, e) non-cash investment gain, (f) non-cash accrual adjustments, (g) non-cash impairment and (h) dilutive shares related to the Company's convertible notes. Adjusted earnings per share represents a performance measure and is not intended to represent a liquidity measure.
Conference Call and Slide Presentation
Euronet Worldwide will host an analyst conference call on October 27, 2026, at 9:00 a.m. Eastern Time to discuss these results. The call may also include discussion of Company developments on the Company's operations, forward-looking information, and other material information about business and financial matters. To listen to the call via telephone, please register at Euronet Worldwide third quarter 2026 Earnings Call. The conference call and accompanying slide show presentation will be accessible via webcast by following the link posted on http://ir.euronetworldwide.com. Participants should register at least five minutes prior to the scheduled start time of the event. A slideshow will be included in the webcast.
Investors may also access the Company's Investor Day presentation, which provides additional information regarding Euronet's long-term strategy, growth accelerators, and financial objectives, through the Investor Relations section of the Company's website at http://ir.euronetworldwide.com.
A webcast replay will be available beginning approximately one hour after the event at http://ir.euronetworldwide.com and will remain available for one year.
About Euronet Worldwide, Inc.
Euronet (Nasdaq: EEFT) is a global leader in payment processing and cross‑border transactions, operating for more than 30 years and now serving clients in 200+ countries and territories. We support financial institutions, merchants and global brands with technology-driven solutions, while enabling businesses and consumers to send, receive and spend money seamlessly worldwide. By operating one of the world’s largest independent electronic payment networks spanning merchant acquiring, transaction processing and point‑of‑sale infrastructure, Euronet enables real‑time, digital and cross‑border movement of money at global scale. In 2025, Euronet processed more than 20 billion transactions across its network. Headquartered in Leawood, Kansas USA, Euronet operates from 74 offices worldwide. For more information, visit www.euronet.com.
Statements contained in this news release that concern Euronet's or its management's intentions, expectations, or predictions of future performance, are forward-looking statements. Euronet's actual results may vary materially from those anticipated in such forward-looking statements as a result of a number of factors, including: conditions in world financial markets and general economic conditions, including impacts from pandemics or other disease outbreaks; inflation; military conflicts in Ukraine and the Middle East, and the related economic sanctions; our ability to successfully integrate any acquired operations; economic conditions in specific countries and regions; technological developments, including artificial intelligence affecting the market for our products and services; our ability to successfully introduce new products and services; foreign currency exchange rate fluctuations; the effects of any breach of our computer systems or those of our customers or vendors, including our financial processing networks or those of other third parties; interruptions in any of our systems or those of our vendors or other third parties; our ability to renew existing contracts at profitable rates; changes in fees payable for transactions performed for cards bearing international logos or over switching networks such as card transactions on ATMs; the impact of changes in U.S. immigration policy on remittance corridors; our ability to comply with increasingly stringent regulatory requirements, including anti-money laundering, anti-terrorism, anti-bribery, consumer and data protection and privacy; changes in laws and regulations affecting our business, including tax and immigration laws and any laws regulating payments, including dynamic currency conversion transactions and digital assets; changes in our relationships with, or in fees charged by, our business partners; competition; the outcome of claims and other loss contingencies affecting Euronet; the cost of borrowing (including fluctuations in interest rates), availability of credit and terms of and compliance with debt covenants; and renewal of sources of funding as they expire and the availability of replacement funding. These risks and other risks are described in the Company's filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Copies of these filings may be obtained via the SEC's Edgar website or by contacting the Company. Any forward-looking statements made in this release speak only as of the date of this release. Except as may be required by law, Euronet does not intend to update these forward-looking statements and undertakes no duty to any person to provide any such update under any circumstances. The Company regularly posts important information to the investor relations section of its website.
EURONET WORLDWIDE, INC.
Condensed Consolidated Balance Sheets
(in millions)
As of September 30, As of 2026 December 31, (unaudited) 2025ASSETS Current assets: Cash and cash equivalents$955.4 $1,040.3ATM cash 912.7 650.3Restricted cash 19.8 23.2Settlement assets 1,385.1 1,910.4Trade accounts receivable, net 321.5 334.5Prepaid expenses and other current assets 367.9 311.5Total current assets 3,962.4 4,270.2 Property and equipment, net 365.3 375.3Right of use lease asset, net 139.6 153.9Goodwill and acquired intangible assets, net 1,252.1 1,303.5Other assets, net 334.7 385.8Total assets$6,054.1 $6,488.7 LIABILITIES AND EQUITY Current liabilities: Settlement obligations$1,385.1 $1,910.4Accounts payable and other current liabilities 885.0 905.2Current portion of operating lease obligations 51.6 54.9Short-term debt obligations 471.1 984.2Total current liabilities 2,792.8 3,854.7 Debt obligations, net of current portion 1,706.1 1,037.0Operating lease obligations, net of current portion 90.5 100.6Capital lease obligations, net of current portion 0.1 0.6Deferred income taxes 75.8 78.3Other long-term liabilities 88.5 95.0Total liabilities 4,753.8 5,166.2Total equity 1,300.3 1,322.5Total liabilities and equity$6,054.1 $6,488.7 EURONET WORLDWIDE, INC.
Consolidated Statements of Operations
(unaudited - in millions, except share and per share data)
Three Months Ended September 30, 2026 2025 Revenues$1,161.1 $1,145.7 Operating expenses: Direct operating costs, exclusive of depreciation 657.0 643.9 Salaries and benefits 194.0 187.4 Selling, general and administrative 99.0 84.6 Depreciation and amortization 39.5 34.8 Total operating expenses 989.5 950.7 Operating income 171.6 195.0 Other income (expense): Interest income 5.0 6.2 Interest expense (21.7) (22.5)Foreign currency exchange gain, net 3.3 0.1 Other income 1.3 1.4 Total other expense, net (12.1) (14.8)Income before income taxes 159.5 180.2 Income tax expense (45.7) (55.1) Net income 113.8 125.1 Net income attributable to noncontrolling interests (0.2) (3.1)Net income attributable to Euronet Worldwide, Inc.$113.6 $122.0 Add: Interest expense from assumed conversion of convertible notes, net of tax 2.0 1.0 Net income for diluted earnings per share calculation$115.6 $123.0 Earnings per share attributable to Euronet Worldwide, Inc. stockholders - diluted$2.53 $2.75 Diluted weighted average shares outstanding 45,761,882 44,809,457 EURONET WORLDWIDE, INC.
Reconciliation of Net Income to Operating Income (Expense) and Adjusted EBITDA
(unaudited - in millions)
Three months ended September 30, 2026 Payments
InfrastructureepayCross-
Border PaymentsCorporate
ServicesConsolidatedNet income $113.8 Add: Income tax expense 45.7 Add: Total other expense, net 12.1 Operating income (expense)$128.2 $31.8 $37.3 $(25.7) $171.6 Less: non-cash accrual adjustment (1.7) — — — (1.7)Adjusted operating income (expense) (1) 126.5 31.8 37.3 (25.7) 169.9 Add: Depreciation and amortization 31.4 1.6 6.3 0.2 39.5 Add: Share-based compensation — — — 16.7 16.7 Earnings before interest, taxes, depreciation, amortization, share-based compensation, non-cash accrual adjustment (Adjusted EBITDA) (1)$157.9 $33.4 $43.6 $(8.8) $226.1 .
Three months ended September 30, 2025 Payments InfrastructureepayCross-Border PaymentsCorporate ServicesConsolidatedNet income $125.1 Add: Income tax expense 55.1Add: Total other expense, net 14.8 Operating income (expense)$128.1 $31.0 $59.3 $(23.4) $195.0Add: Depreciation and amortization 26.6 1.5 6.6 0.1 34.8Add: Share-based compensation — — — 14.8 14.8Earnings before interest, taxes, depreciation, amortization, share-based compensation (Adjusted EBITDA) (1)$154.7 $32.5 $65.9 $(8.5) $244.6 (1)Adjusted operating income and adjusted EBITDA are non-GAAP measures that should be considered in addition to, and not as a substitute for, operating income and net income computed in accordance with U.S. GAAP. EURONET WORLDWIDE, INC.
Reconciliation of Adjusted Earnings per Share
(unaudited - in millions, except share and per share data)
Three Months Ended September 30, 2026 2025 Net income attributable to Euronet Worldwide, Inc.$113.6 $122.0 Foreign currency exchange result (3.3) (0.1)Intangible asset amortization (1) 9.6 4.9 Share-based compensation (2) 16.7 14.8 Income tax effect of above adjustments (3) 0.5 (2.8)Non-cash investment gain (4) (1.3) — Non-cash accrual adjustment (5) (1.7) — Non-cash impairment (6) — 1.8 Non-cash GAAP tax expense (7) 2.9 7.7 Adjusted earnings (8)$137.0 $148.3 Adjusted earnings per share - diluted (8)$3.55 $3.62 Diluted weighted average shares outstanding (GAAP) 45,761,882 44,809,457 Effect of adjusted EPS dilution of convertible notes (8,047,923) (4,112,023)Effect of unrecognized share-based compensation on diluted shares outstanding 919,893 310,448 Adjusted diluted weighted average shares outstanding 38,633,852 41,007,882
(1) Intangible asset amortization of $9.6 million and $4.9 million are included in depreciation and amortization expense of $39.5 million and $34.8 million for the three months ended September 30, 2026 and September 30, 2025, respectively, in the consolidated statements of operations.
(2) Share-based compensation of $16.7 million and $14.8 million are included in salaries and benefits expense of $194.0 million and $187.4 million for the three months ended September 30, 2026 and September 30, 2025, respectively, in the consolidated statements of operations.
(3) Adjustment is the aggregate U.S. GAAP income tax effect on the preceding adjustments determined by applying the applicable statutory U.S. federal, state and/or foreign income tax rates.
(4) Non-cash investment gain of $1.3 million is included in other income in the consolidated statement of operations for the three months ended September 30, 2026.
(5) Non-cash accrual gain of $1.7 million is included in other income in the consolidated statement of operations for the three months ended September 30, 2026.
(6) Non-cash impairment of $1.8 million is included in other expenses and net loss attributable to noncontrolling interest in the consolidated statement of operations for the three months ended September 30, 2025.
(7) Adjustment is the non-cash GAAP tax impact recognized on certain items such as the utilization of certain material net deferred tax assets and amortization of indefinite-lived intangible assets.
(8) Adjusted earnings and adjusted earnings per share are non-GAAP measures that should be considered in addition to, and not as a substitute for, net income and earnings per share computed in accordance with U.S. GAAP.
CACI získala čtyřletou zakázku od amerického námořnictva v hodnotě až 145 milionů USD na vývoj autonomních systémů, námořních senzorů a nových námořních plavidel.
, /PRNewswire/ -- CACI International Inc (NYSE: CACI) announced today that it has been awarded a four-year task order valued at up to $145 million to support the Naval Surface Warfare Center Carderock Division (NSWCCD) in advancing next-generation maritime capabilities for the U.S. Navy.
Under the award, CACI will develop and integrate advanced technologies for autonomous systems, maritime sensors, and next-generation naval platforms. This work will help the Navy improve fleet readiness, strengthen operational flexibility, and maintain maritime superiority against evolving threats.
"Maintaining maritime superiority requires the ability to turn emerging technologies into operational capabilities faster," said John Mengucci, CACI President and Chief Executive Officer. "Our work will help the Navy get critical technologies into the hands of warfighters sooner, giving them the capabilities they need to make better decisions and stay ahead of emerging threats."
CACI will conduct research, engineering, testing, and rapid prototyping across multiple maritime platforms. The work includes evaluating new technologies, validating their performance, and integrating successful solutions into operational systems.
About CACI
CACI International Inc (NYSE: CACI) is a technology-first national security company that expands the limits of national security through innovation, discipline, and operational excellence. We deliver advanced technologies that help our customers move faster, operate more efficiently, and anticipate and defeat evolving threats. Our 27,000 talented employees and strong culture drive our success and have earned CACI recognition as a Fortune World's Most Admired Company. CACI is a member of the Fortune 500™, the Russell 1000 Index, and the S&P MidCap 400 Index. For more information, visit caci.com.
Delivered 12 percent revenue growth, or 8 percent organic constant currency, led by Financial Services, Insurance and InternationalExceeded high end of guidance for diluted earnings per share and Adjusted Diluted Earnings per Share, delivering 14 percent growth for Adjusted Diluted Earnings per ShareIncreased pace of share repurchases for a total of $243 million year-to-date; expect to repurchase up to $500 million shares total in 2026Board raised share repurchase authorization by $1 billion to $2 billion in totalRaised quarterly dividend to $0.135 per share, an increase from $0.125, effective third quarter of 2026, payable in November
CHICAGO, Oct. 27, 2026 (GLOBE NEWSWIRE) -- TransUnion (NYSE: TRU) (the “Company”) today announced financial results for the quarter ended September 30, 2026.
Third Quarter 2026 Results
Revenue:
Total revenue for the quarter was $1,312 million, an increase of 12 percent (12 percent on a constant currency basis and 8 percent on an organic constant currency basis), compared with the third quarter of 2025.
Earnings:
Net income attributable to TransUnion was $156 million for the quarter, compared with $97 million for the third quarter of 2025. Diluted earnings per share was $0.81, compared with $0.49 in the third quarter of 2025. Net income attributable to TransUnion margin was 11.9 percent, compared with 8.3 percent in the third quarter of 2025.Adjusted Net Income was $242 million for the quarter, compared with $216 million for the third quarter of 2025. Adjusted Diluted Earnings per Share was $1.25, compared with $1.10 in the third quarter of 2025.Adjusted EBITDA was $465 million for the quarter, compared with $425 million for the third quarter of 2025, an increase of 9 percent (10 percent on a constant currency basis and 5 percent on an organic constant currency basis). Adjusted EBITDA margin was 35.4 percent, compared with 36.3 percent in the third quarter of 2025.
“TransUnion delivered another quarter of strong results exceeding our guidance,” said Chris Cartwright, President and CEO. “U.S. Markets revenue grew by 7 percent, led by U.S. Financial Services and Insurance. International accelerated to 10 percent growth on an organic constant currency basis, including 18 percent growth in India.”
“We are maintaining the high-end of 2026 guidance for revenue and raising guidance for Adjusted Diluted EPS, balancing business momentum against rising interest rates and overall market uncertainty. We continue to expect 2026 to mark our third consecutive year of at least high-single digit organic constant currency revenue growth and double-digit Adjusted Diluted EPS growth.”
“Progress against our technology modernization and accelerated innovation underpin these results. We continue to deliver increasingly diversified, innovation-led and scalable growth. We believe our growth momentum, increasing cash flow and strong balance sheet support an accelerated pace of capital return to shareholders in the near term.”
Third Quarter 2026 Segment Results
Segment revenue, Adjusted EBITDA and the related growth rates in the table below include the results of Trans Union de México, S.A. S.I.C. (“Trans Union de Mexico”). The results of this business are reported in the International Segment within Latin America.
Cash and cash equivalents was $883 million at September 30, 2026 and $854 million at December 31, 2025.
For the nine months ended September 30, 2026, cash provided by operating activities was $889 million, compared with $668 million in 2025. The increase in cash provided by operating activities was due primarily to improved operating performance and changes in working capital. For the nine months ended September 30, 2026, cash used in investing activities was $754 million, compared with $307 million in 2025. The increase in cash used in investing activities was due primarily to our acquisitions of Trans Union de Mexico and the mobile division of RealNetworks LLC (“RealNetworks”), partially offset by proceeds from the sale of two investments and a prior year investment in a note receivable. For the nine months ended September 30, 2026, capital expenditures were $201 million, compared with $229 million in 2025. Capital expenditures as a percentage of revenue represented 5% and 7%, respectively, for the nine months ended September 30, 2026 and 2025. For the nine months ended September 30, 2026, cash used in financing activities was $86 million, compared with $301 million in 2025. The decrease in cash used in financing activities was due primarily to borrowings from our Senior Secured Revolving Credit Facility in connection with the purchase of Trans Union de Mexico, partially offset by higher share repurchase volume in 2026, the prepayment of our Senior Secured Term Loan B-5 debt and dividends paid to shareholders of Trans Union de Mexico.
On October 26, 2026, TransUnion’s Board of Directors increased the share repurchase authorization by $1 billion to $2 billion in total and declared a cash dividend of $0.135 per share, an increase from $0.125, for the third quarter of 2026. The dividend will be payable on November 25, 2026, to shareholders of record on November 10, 2026.
Fourth Quarter and Full Year 2026 Outlook
Our guidance is based on a number of assumptions that are subject to change, many of which are outside of the control of the Company, including general macroeconomic conditions, interest rates, inflation and regulatory changes. There are numerous evolving factors that we may not be able to accurately predict. There can be no assurance that the Company will achieve the results below.
Three Months Ended
December 31, 2026 Twelve Months Ended
December 31, 2026(in millions, except per share data) Low High Low HighRevenue, as reported $1,264 $1,294 $5,131 $5,162 Growth rates1: As reported 8% 10% 12% 13%Constant currency1, 2 8% 11% 12% 13%Organic constant currency1, 3 3% 6% 8% 9% Net income attributable to TransUnion $127 $140 $823 $837 Growth rate 25% 38% 81% 84%Net income attributable to TransUnion margin 10.0% 10.8% 16.0% 16.2% Diluted Earnings per Share $0.66 $0.73 $4.26 $4.32 Growth rate 26% 40% 84% 87% Adjusted EBITDA, as reported5 $450 $468 $1,808 $1,827 Growth rate, as reported4 8% 12% 10% 11%Adjusted EBITDA margin 35.6% 36.2% 35.2% 35.4% Adjusted Diluted Earnings per Share5 $1.15 $1.22 $4.81 $4.88 Growth rate 7% 14% 12% 13% Additional revenue growth assumptions: The impact of changing foreign currency exchange rates is expected to be immaterial for Q4 2026 and for FY 2026.The impact of the recent acquisitions is expected to be approximately 5 points of benefit for Q4 2026 and approximately 4 points of benefit for FY 2026.The impact of FICO mortgage royalty is expected to be approximately 1 point of benefit for Q4 2026 and approximately 3 points of benefit for FY 2026. Constant currency growth rates assume foreign currency exchange rates are consistent between years. This allows financial results to be evaluated without the impact of fluctuations in foreign currency exchange rates.Organic constant currency growth rates are constant currency growth excluding inorganic growth. Inorganic growth represents growth attributable to the first twelve months of activity for recent business acquisitions, including Trans Union de Mexico, the mobile division of RealNetworks and Monevo.Additional Adjusted EBITDA assumptions: The impact of changing foreign currency exchange rates is expected to be approximately 1 point of headwind for Q4 2026 and is expected to be immaterial for FY 2026. For a reconciliation of the above non-GAAP financial measures to the most directly comparable GAAP financial measures, refer to Schedule 7 of this Earnings Release.
Earnings Webcast Details
In conjunction with this release, TransUnion will host a conference call and webcast today at 8:30 a.m. Central Time to discuss the business results for the quarter and certain forward-looking information. This session and the accompanying presentation materials may be accessed at www.transunion.com/tru. A replay of the call will also be available at this website following the conclusion of the call.
About TransUnion (NYSE: TRU)
TransUnion is a global information and insights company with over 13,000 associates operating in more than 30 countries. We make trust possible by ensuring each person is reliably represented in the marketplace. We do this with a Tru™ picture of each person: an actionable view of consumers, stewarded with care. Through our acquisitions and technology investments we have developed innovative solutions that extend beyond our strong foundation in core credit into areas such as marketing, fraud, risk and advanced analytics. As a result, consumers and businesses can transact with confidence and achieve great things. We call this Information for Good® — and it leads to economic opportunity, great experiences and personal empowerment for millions of people around the world.
http://www.transunion.com/business
Availability of Information on TransUnion’s Website
Investors and others should note that TransUnion routinely announces material information to investors and the marketplace using SEC filings, press releases, public conference calls, webcasts and the TransUnion Investor Relations website. While not all of the information that the Company posts to the TransUnion Investor Relations website is of a material nature, some information could be deemed to be material. Accordingly, the Company encourages investors, the media and others interested in TransUnion to review the information that it shares on www.transunion.com/tru.
Forward-Looking Statements
This earnings release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current beliefs and expectations of TransUnion’s management and are subject to significant risks and uncertainties. Actual results may differ materially from those described in the forward-looking statements. Any statements made in this earnings release that are not statements of historical fact, including statements about our beliefs, expectations and outlook are forward-looking statements. Forward-looking statements include information concerning possible or assumed future results of operations, including our guidance and descriptions of our business plans and strategies. These statements often include words such as “anticipate,” “expect,” “guidance,” “suggest,” “plan,” “believe,” “intend,” “estimate,” “target,” “project,” “should,” “could,” “would,” “may,” “will,” “forecast,” “outlook,” “potential,” “continues,” “seeks,” “predicts,” or the negatives of these words and other similar expressions.
Factors that could cause actual results to differ materially from those described in the forward-looking statements, or that could materially affect our financial results or such forward-looking statements include:
macroeconomic effects and changes in market conditions, including the impact of tariffs, inflation, risk of recession, trade policy, and industry trends and adverse developments in the debt, consumer credit and financial services markets, including the impact on the carrying value of our assets in all of the markets where we operate;ongoing conflict in the Middle East;our ability to provide competitive services and prices;our ability to retain or renew existing agreements with large or long-term customers;our ability to maintain the security and integrity of our data;our ability to deliver services timely without interruption;uncertainty related to Fair Isaac Corporation’s (“FICO”) new Mortgage Direct License Program;our ability to maintain our access to data sources;government regulation and changes in the regulatory environment;uncertainty related to potential governmental actions or public statements regarding mortgage credit reporting requirements, the pricing of our services, the consumer reporting industry or our business, and the potential impact to our business and stock price as a result of such actions or public statements;litigation or regulatory proceedings;our approach to the use of artificial intelligence;our ability to effectively manage our costs;our ability to maintain effective internal control over financial reporting or disclosure controls and procedures;economic and political stability in the United States and risks associated with the international markets where we operate;our ability to effectively develop and maintain strategic alliances and joint ventures;our ability to timely develop new services and the market’s willingness to adopt our new services;our ability to manage and expand our operations and keep up with rapidly changing technologies;our ability to acquire businesses, successfully secure financing for our acquisitions, timely consummate our acquisitions, successfully integrate the operations of our acquisitions, control the costs of integrating our acquisitions and realize the intended benefits of such acquisitions;our ability to protect and enforce our intellectual property, trade secrets and other forms of unpatented intellectual property;our ability to defend our intellectual property from infringement claims by third parties;the ability of our outside service providers and key vendors to fulfill their obligations to us;further consolidation in our end-customer markets;the increased availability of free or inexpensive consumer information;losses against which we do not insure;our ability to make timely payments of principal and interest on our indebtedness;our ability to satisfy covenants in the agreements governing our indebtedness;our ability to maintain our liquidity;stock price volatility;share repurchase plans;dividend rate;our reliance on key management personnel; andchanges in tax laws or adverse outcomes resulting from examination of our tax returns.
There may be other factors, many of which are beyond our control, that may cause our actual results to differ materially from the forward-looking statements, including factors disclosed in our Annual Report on Form 10-K for the year ended December 31, 2025, and any subsequent Quarterly Report on Form 10-Q or Current Report on Form 8-K filed with the Securities and Exchange Commission. You should evaluate all forward-looking statements made in this report in the context of these risks and uncertainties.
The forward-looking statements contained in this earnings release speak only as of the date of this earnings release. We undertake no obligation to publicly release the result of any revisions to these forward-looking statements to reflect the impact of events or circumstances that may arise after the date of this earnings release.
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TRANSUNION AND SUBSIDIARIES
Consolidated Balance Sheets (Unaudited)
(in millions, except per share data) September
30, 2026 December
31, 2025Assets Current assets: Cash and cash equivalents $883.1 $853.6 Trade accounts receivable, net of allowance of $26.9 and $27.7 1,020.2 905.0 Other current assets 292.5 257.7 Total current assets 2,195.8 2,016.3 Property, plant and equipment, net of accumulated depreciation and amortization of $571.4 and $545.0 241.2 258.4 Goodwill 5,802.5 5,259.5 Other intangibles, net of accumulated amortization of $3,027.1 and $2,716.3 3,429.2 3,098.5 Other assets 421.4 480.2 Total assets $12,090.1 $11,112.9 Liabilities and stockholders’ equity Current liabilities: Trade accounts payable $409.2 $349.9 Current portion of long-term debt 108.6 196.9 Other current liabilities 562.7 607.6 Total current liabilities 1,080.5 1,154.4 Long-term debt 5,347.9 4,906.9 Deferred taxes 535.6 389.8 Other liabilities 125.4 116.5 Total liabilities 7,089.4 6,567.6 Stockholders’ equity: Preferred stock, $0.01 par value; 100.0 million shares authorized; none issued or outstanding as of September 30, 2026 and December 31, 2025, respectively — — Common stock, $0.01 par value; 1.0 billion shares authorized at September 30, 2026 and December 31, 2025, 198.5 million and 199.4 million shares issued at September 30, 2026 and December 31, 2025, respectively, and 190.7 million and 192.4 million shares outstanding as of September 30, 2026 and December 31, 2025, respectively 1.9 2.0 Additional paid-in capital 2,311.7 2,424.0 Treasury stock at cost; 7.7 million and 7.0 million shares at September 30, 2026 and December 31, 2025, respectively (428.9) (370.3)Retained earnings 3,346.7 2,723.7 Accumulated other comprehensive loss (381.7) (340.2)Total TransUnion stockholders’ equity 4,849.7 4,439.2 Noncontrolling interests 151.0 106.1 Total stockholders’ equity 5,000.7 4,545.3 Total liabilities and stockholders’ equity $12,090.1 $11,112.9 TRANSUNION AND SUBSIDIARIES
Consolidated Statements of Operations (Unaudited)
(in millions, except per share data) Three Months Ended
September 30, Nine Months Ended
September 30, 2026 2025 2026 2025 Revenue $1,312.5 $1,169.5 $3,867.8 $3,405.0 Operating expenses Cost of services (exclusive of depreciation and amortization below) 534.7 480.3 1,598.8 1,395.9 Selling, general and administrative 346.6 330.8 1,022.2 922.6 Depreciation and amortization 164.0 145.6 476.8 427.2 Restructuring — 5.1 — 5.1 Total operating expenses 1,045.3 961.9 3,097.8 2,750.8 Operating income 267.2 207.6 770.0 654.2 Non-operating income and (expense) Interest expense (66.5) (62.5) (194.4) (174.3)Interest income 9.0 8.8 23.2 26.2 Earnings from equity method investments 0.9 5.5 8.3 14.7 Gain on acquisition of affiliate — — 225.5 — Other income and (expense), net (1.7) (9.3) 6.0 (20.1)Total non-operating income and (expense) (58.2) (57.5) 68.6 (153.5)Income before income taxes 209.0 150.1 838.6 500.7 Provision for income taxes (48.5) (50.0) (131.0) (135.4)Net income 160.5 100.2 707.6 365.3 Less: net income attributable to noncontrolling interests (4.3) (3.6) (10.9) (11.0)Net income attributable to TransUnion $156.2 $96.6 $696.7 $354.2 Basic earnings per common share from: Net income attributable to TransUnion $0.82 $0.50 $3.63 $1.82 Diluted earnings per common share from: Net income attributable to TransUnion $0.81 $0.49 $3.59 $1.80 Weighted-average shares outstanding: Basic 191.1 194.8 192.0 194.9 Diluted 192.6 197.2 193.8 197.2 As a result of displaying amounts in millions, rounding differences may exist in the table above.
TRANSUNION AND SUBSIDIARIES
Consolidated Statements of Cash Flows (Unaudited)
(in millions) Nine Months Ended September 30, 2026 2025 Cash flows from operating activities: Net income $707.6 $365.3 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 476.8 427.2 Deferred taxes (21.3) (26.5)Stock-based compensation 113.6 106.9 Gain on acquisition of affiliate (225.5) — Other (6.7) 31.4 Changes in assets and liabilities: Trade accounts receivable (122.7) (105.9)Other current and long-term assets (15.2) (1.9)Trade accounts payable 55.3 50.1 Other current and long-term liabilities (73.3) (178.5)Cash provided by operating activities 888.6 668.1 Cash flows from investing activities: Capital expenditures (201.3) (229.3)Proceeds from sale/maturity of other investments — 0.2 Investments in consolidated affiliates, net of cash acquired (603.4) (55.7)Investments in nonconsolidated affiliates and notes receivable (7.3) (25.0)Proceeds from the sale of investments in nonconsolidated affiliates 47.3 — Other 10.7 2.7 Cash used in investing activities (754.0) (307.1)Cash flows from financing activities: Proceeds from revolving credit facility 520.0 — Repayments of debt (171.1) (60.9)Debt financing fees (0.7) — Dividends to shareholders (74.4) (68.3)Proceeds from issuance of common stock and exercise of stock options 21.5 22.5 Employee taxes paid on restricted stock units recorded as treasury stock (58.6) (33.9)Repurchases of common stock (244.6) (152.6)Acquisitions of noncontrolling interests (8.6) — Distributions to noncontrolling interests (13.3) (7.7)Dividends paid to shareholders of acquired affiliate (56.3) — Cash used in financing activities (86.1) (300.9)Effect of exchange rate changes on cash and cash equivalents (19.0) 10.3 Net change in cash and cash equivalents 29.5 70.4 Cash and cash equivalents, beginning of period 853.6 679.5 Cash and cash equivalents, end of period $883.1 $749.9 As a result of displaying amounts in millions, rounding differences may exist in the table above.
TRANSUNION AND SUBSIDIARIES
Non-GAAP Financial Measures
We present Consolidated Adjusted EBITDA, Consolidated Adjusted EBITDA Margin, Adjusted Net Income, Adjusted Diluted Earnings per Share, Adjusted Provision for Income Taxes, Adjusted Effective Tax Rate and Leverage Ratio for all periods presented. These are important financial measures for the Company but are not financial measures as defined by GAAP. These financial measures should be reviewed in conjunction with the relevant GAAP financial measures and are not presented as alternative measures of GAAP. Other companies in our industry may define or calculate these measures differently than we do, limiting their usefulness as comparative measures. Because of these limitations, these non-GAAP financial measures should not be considered in isolation or as substitutes for performance measures calculated in accordance with GAAP, including operating income, operating margin, effective tax rate, net income attributable to the Company, diluted earnings per share or cash provided by operating activities. Reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures are presented in the tables below.
We present Consolidated Adjusted EBITDA, Consolidated Adjusted EBITDA Margin, Adjusted Net Income, Adjusted Diluted Earnings per Share, Adjusted Provision for Income Taxes and Adjusted Effective Tax Rate as supplemental measures of our operating performance because these measures eliminate the impact of certain items that we do not consider indicative of our cash operations and ongoing operating performance. These are measures frequently used by securities analysts, investors and other interested parties in their evaluation of the operating performance of companies similar to ours.
Our board of directors and executive management team use Adjusted EBITDA as an incentive compensation measure for most eligible employees and Adjusted Diluted Earnings per Share as an incentive compensation measure for certain of our senior executives.
Under the credit agreement governing our Senior Secured Credit Facility, our ability to engage in activities such as incurring additional indebtedness, making investments and paying dividends is tied to our Leverage Ratio which is partially based on Adjusted EBITDA. Investors also use our Leverage Ratio to assess our ability to service our debt and make other capital allocation decisions.
Consolidated Adjusted EBITDA
Management has excluded the following items from net income attributable to TransUnion in order to calculate Adjusted EBITDA for the periods presented:
Net interest expense is the sum of interest expense and interest income as reported on our Consolidated Statements of Operations.Provision for income taxes, as reported on our Consolidated Statements of Operations.Depreciation and amortization, as reported on our Consolidated Statements of Operations.Stock-based compensation is used as an incentive to engage and retain our employees. It is predominantly a non-cash expense. We exclude stock-based compensation because it may not correlate to the underlying performance of our business operations during the period since it is measured at the grant date fair value and it is subject to variability as a result of performance conditions and timing of grants. These expenses are reported within cost of services and selling, general and administrative on our Consolidated Statements of Operations.Mergers and acquisitions, divestitures and business optimization expenses are non-recurring expenses associated with specific transactions (exploratory or executed) and consist of (i) transaction and integration costs, (ii) fair value and impairment adjustments related to investments and related call and put options, notes receivable, gains or losses on a step acquisition and mark-to-market adjustments on acquisition-related foreign currency forward contracts, (iii) post-acquisition adjustments to contingent consideration or to assets and liabilities that occurred after the acquisition measurement period. We exclude these expenses as we believe they are not directly correlated to the underlying performance of our business operations and vary depending upon the timing of such transactions. These expenses are reported in costs of services, selling, general and administrative and other income and (expenses), net, on our Consolidated Statements of Operations.Accelerated technology investment includes Project Rise and the final phase of our technology investment announced in November 2023. Project Rise was announced in February 2020 and was originally expected to be completed in 2022. Following our acquisition of Neustar in December 2021, we recognized the opportunity to take advantage of Neustar’s capabilities to enhance and complement our cloud-based technology already under development as part of Project Rise. As a result, we extended Project Rise’s timeline to 2024. In November 2023, we announced our plans to further leverage Neustar’s technology to standardize and streamline our product delivery platforms and to build a single global platform for fulfillment of our product lines. This represented the final phase of the technology investment in our global technology infrastructure and core customer applications. The accelerated technology investment fundamentally transformed our technology infrastructure by implementing a global cloud-based approach to streamline product development, increase the efficiency of ongoing operations and maintenance and enable a continuous improvement approach to avoid the need for another major technology overhaul in the foreseeable future. The unique effort to build a secure, reliable and performant hybrid cloud infrastructure required us to dedicate separate resources in order to develop the new cloud-based infrastructure in parallel with our current on-premise environment by maintaining our existing technology team to ensure no disruptions to our customers. The costs associated with the accelerated technology investment are incremental and redundant costs that will not recur now that the program has been completed and are not representative of our underlying operating performance. Therefore, we believe that excluding these costs through the end of the program in 2025 from our non-GAAP measures provides a better reflection of our ongoing cost structure. These costs are primarily reported in cost of services and therefore do not include amounts that are capitalized as internally developed software.Operating model optimization program represents employee separation costs, facility lease exit costs and other business process optimization expenses incurred in connection with our transformation plan. We excluded these expenses through the end of the program in 2025 as we believe they are not directly correlated to the underlying performance of our business. Further, these costs will vary and may not be comparable during the transformation initiative as we progress toward an optimized operating model. These costs are reported primarily in restructuring and selling, general and administrative on our Consolidated Statements of Operations.Net other adjustments principally relate to: (i) deferred loan fee expense from debt prepayments and refinancing, (ii) other debt financing expenses consisting primarily of revolving credit facility deferred financing fee amortization and commitment fees and expenses associated with ratings agencies and interest rate hedging, (iii) currency remeasurement on foreign operations, (iv) legal and regulatory expenses, net, and (v) other non-operating (income) and expense. We exclude these expenses as we believe they are not directly correlated to the underlying performance of our business and create variability between periods based on the nature and timing of the expense or income. These costs are reported in selling, general and administrative and in non-operating income and expense, net as applicable based on their nature on our Consolidated Statements of Operations. Consolidated Adjusted EBITDA Margin
Management defines Consolidated Adjusted EBITDA Margin as Consolidated Adjusted EBITDA divided by total revenue as reported.
Adjusted Net Income
Management has excluded the following items from net income attributable to TransUnion in order to calculate Adjusted Net Income for the periods presented:
Amortization of certain intangible assets presents non-cash amortization expenses related to assets that arose from our 2012 change in control transaction and business combinations occurring after our 2012 change in control. We exclude these expenses as we believe they are not directly correlated to the underlying performance of our business operations and vary dependent upon the timing of the transactions that give rise to these assets. Amortization of intangible assets is included in depreciation and amortization on our Consolidated Statements of Operations.Stock-based compensation (see Consolidated Adjusted EBITDA above)Mergers and acquisitions, divestiture and business optimization (see Consolidated Adjusted EBITDA above)Accelerated technology investment (see Consolidated Adjusted EBITDA above)Operating model optimization program (see Consolidated Adjusted EBITDA above)Net other is consistent with the definition in Consolidated Adjusted EBITDA above except that other debt financing expenses and certain other miscellaneous income and expense that are included in the adjustment to calculate Adjusted EBITDA are excluded in the adjustment made to calculate Adjusted Net Income.Total adjustments for income taxes relates to the cumulative adjustments discussed below for Adjusted Provision for Income Taxes. This adjustment is made for the reasons indicated in Adjusted Provision for Income Taxes below. Adjustments related to the provision for income taxes are included in the line item by this name on our Consolidated Statement of Operations.
Adjusted Diluted Earnings Per Share
Management defines Adjusted Diluted Earnings per Share as Adjusted Net Income divided by the weighted-average diluted shares outstanding.
Adjusted Provision for Income Taxes
Management has excluded the following items from our provision for income taxes for the periods presented:
Tax effect of above adjustments represents the income tax effect of the adjustments related to Adjusted Net Income described above. The tax rate applied to each adjustment is based on the nature of each line item. We include the tax effect of the adjustments made to Adjusted Net Income to provide a comprehensive view of our adjusted net income.Excess tax (benefit) expense for stock-based compensation is the permanent difference between expenses recognized for book purposes and expenses recognized for tax purposes, in each case related to stock-based compensation expense. We exclude this amount from the Adjusted Provision for Income Taxes in order to be consistent with the exclusion of stock-based compensation from the calculation of Adjusted Net Income.Other principally relates to (i) deferred tax adjustments, including rate changes, (ii) infrequent or unusual valuation allowance adjustments, (iii) return to provision, tax authority audit adjustments, and reserves related to prior periods, and (iv) other non-recurring items. We exclude these items because they create variability that impacts comparability between periods.
Adjusted Effective Tax Rate
Management defines Adjusted Effective Tax Rate as Adjusted Provision for Income Taxes divided by Adjusted income before income taxes. We calculate adjusted income before income taxes by excluding the pre-tax adjustments in the calculation of Adjusted Net Income discussed above and noncontrolling interest related to these pre-tax adjustments from income before income taxes.
Leverage Ratio
Management defines Leverage Ratio as net debt divided by Consolidated Adjusted EBITDA for the most recent twelve-month period including twelve months of Adjusted EBITDA from significant acquisitions. Net debt is defined as total debt less cash and cash equivalents as reported on the balance sheet as of the end of the period.
This earnings release presents constant currency growth rates assuming foreign currency exchange rates are consistent between years. This allows financial results to be evaluated without the impact of fluctuations in foreign currency exchange rates. This earnings release also presents organic constant currency growth rates, which assumes consistent foreign currency exchange rates between years and also eliminates the impact of our recent acquisitions. This allows financial results to be evaluated without the impact of fluctuations in foreign currency exchange rates and the impacts of recent acquisitions.
Free cash flow is defined as cash provided by operating activities less capital expenditures and is a measure we may refer to.
Refer to Schedules 1 through 7 for a reconciliation of our non-GAAP financial measures to the most directly comparable GAAP financial measure.
SCHEDULE 1
TRANSUNION AND SUBSIDIARIES
Revenue and Adjusted EBITDA growth rates as Reported, CC, and Organic CC
(Unaudited) For the Three Months Ended September 30, 2026 compared with
the Three Months Ended September 30, 2025 For the Nine Months Ended September 30, 2026 compared with
the Nine Months Ended September 30, 2025 Reported CC Growth1 Inorganic Organic CC Growth2 Reported CC Growth1 Inorganic Organic CC Growth2Revenue: Consolidated 12.2% 12.5% 4.9% 7.6% 13.6% 13.5% 4.0% 9.5%U.S. Markets 7.0% 7.0% 0.3% 6.8% 10.7% 10.7% 0.2% 10.5%Financial Services 10.8% 10.8% —% 10.8% 17.5% 17.5% —% 17.5%Emerging Verticals 6.3% 6.3% 0.7% 5.6% 7.3% 7.3% 0.5% 6.8%Consumer Interactive (3.0)% (3.0)% —% (3.0)% (1.6)% (1.7)% 0.3% (2.0)%International 30.4% 31.4% 20.9% 10.4% 23.7% 23.2% 17.4% 5.8%Canada 5.2% 6.9% —% 6.9% 9.6% 8.6% —% 8.6%Latin America 192.8% 179.7% 161.7% 18.0% 143.8% 133.5% 125.8% 7.7%United Kingdom 5.1% 5.5% —% 5.5% 11.8% 9.3% 2.4% 7.0%Africa 14.9% 6.4% —% 6.4% 17.8% 6.9% —% 6.9%India 7.5% 17.7% —% 17.7% (1.8)% 6.7% —% 6.7%Asia Pacific —% 3.0% —% 3.0% (9.7)% (7.6)% —% (7.6)% Adjusted EBITDA: Consolidated 9.3% 10.1% 5.3% 4.7% 10.5% 10.7% 4.5% 6.1%U.S. Markets 0.7% 0.7% (0.4)% 1.1% 6.3% 6.2% (0.1)% 6.4%International 38.5% 41.3% 21.2% 20.1% 25.5% 26.0% 17.2% 8.7% 1. Constant Currency (“CC”) growth rates assume foreign currency exchange rates are consistent between years. This allows financial results to be evaluated without the impact of fluctuations in foreign currency exchange rates.
2. Organic CC growth rate is the CC growth rate less inorganic growth rate.
SCHEDULE 2
TRANSUNION AND SUBSIDIARIES
Consolidated and Segment Revenue, Adjusted EBITDA, and Adjusted EBITDA Margin (Unaudited)
(dollars in millions) Three Months Ended
September 30, Nine Months Ended
September 30, 2026 2025 2026 2025 Revenue: U.S. Markets gross revenue Financial Services$485.5 $438.0 $1,482.3 $1,261.5 Emerging Verticals 351.0 330.1 1,039.5 968.6 Consumer Interactive 140.3 144.8 422.8 429.8 U.S. Markets gross revenue$976.8 $912.8 $2,944.6 $2,659.9 International gross revenue Canada$45.7 $43.4 $135.3 $123.5 Latin America 98.7 33.7 245.3 100.6 United Kingdom 75.0 71.4 220.7 197.4 Africa 22.3 19.4 64.2 54.5 India 73.7 68.5 200.3 203.9 Asia Pacific 23.7 23.7 67.9 75.2 International gross revenue$339.0 $260.1 $933.8 $755.1 Total gross revenue$1,315.9 $1,172.9 $3,878.4 $3,415.0 Intersegment revenue eliminations U.S. Markets$(1.7) $(1.7) $(5.7) $(5.3)International (1.6) (1.7) (4.9) (4.7)Total intersegment revenue eliminations$(3.3) $(3.4) $(10.6) $(10.0) Total revenue as reported$1,312.5 $1,169.5 $3,867.8 $3,405.0 Adjusted EBITDA: U.S. Markets$353.3 $350.7 $1,071.2 $1,008.1 International 155.7 112.4 414.2 330.2 Corporate (44.2) (38.0) (126.6) (109.0)Adjusted EBITDA Margin:1 U.S. Markets 36.2% 38.4% 36.4% 37.9%International 45.9% 43.2% 44.4% 43.7% 1. Segment Adjusted EBITDA Margins are calculated using segment gross revenue and segment Adjusted EBITDA. Consolidated Adjusted EBITDA Margin is calculated using total revenue as reported and consolidated Adjusted EBITDA.
Three Months Ended
September 30, Nine Months Ended
September 30, 2026 2025 2026 2025 Reconciliation of Net income attributable to TransUnion to consolidated Adjusted EBITDA: Net income attributable to TransUnion$156.2 $96.6 $696.7 $354.2 Net interest expense 57.4 53.7 171.2 148.2 Provision for income taxes 48.5 50.0 131.0 135.4 Depreciation and amortization 164.0 145.6 476.8 427.2 EBITDA$426.1 $345.8 $1,475.7 $1,065.0 Expense and (income) adjustments to EBITDA: Stock-based compensation 37.0 36.4 113.6 106.9 Mergers and acquisitions, divestitures and business optimization1 0.4 6.9 (233.2) 20.2 Accelerated technology investment2 — 22.1 — 65.4 Operating model optimization program3 — 11.5 — 26.7 Net other4 1.2 2.3 2.7 (55.0)Total adjustments to EBITDA$38.6 $79.2 $(116.9) $164.2 Consolidated Adjusted EBITDA$464.8 $425.1 $1,358.8 $1,229.2 Net income attributable to TransUnion margin 11.9% 8.3% 18.0% 10.4%Consolidated Adjusted EBITDA margin5 35.4% 36.3% 35.1% 36.1% As a result of displaying amounts in millions, rounding differences may exist in the tables above and footnotes below.
1. Mergers and acquisitions, divestitures and business optimization consisted of the following adjustments:
Three Months Ended
September 30, Nine Months Ended
September 30, 2026
2025
2026
2025
Transaction and integration costs $0.4 $2.7 $8.0 $10.9Fair value and impairment adjustments — 4.2 (241.2) 9.3Total mergers and acquisitions, divestitures and business optimization $0.4 $6.9 $(233.2) $20.2 For the nine months ended September 30, 2026, fair value and impairment adjustments includes the gain on our acquisition of Trans Union de Mexico.
2. Represents expenses associated with our accelerated technology investment to migrate to the cloud. There are three components of the accelerated technology investment: (i) building foundational capabilities, which includes establishing a modern, API-based and services-oriented software architecture, (ii) the migration of each application and customer data to the new enterprise platform, including the redundant software costs during the migration period, as well as the efforts to decommission the legacy system, and (iii) program enablement, which includes dedicated resources to support the planning and execution of the program. The amounts for each category of cost are as follows:
Three Months Ended
September 30, Nine Months Ended
September 30, 2025
2025
Foundational Capabilities $4.4 $16.0Migration Management 17.7 49.3Total accelerated technology investment $22.1 $65.4 3. Operating model optimization consisted of the following adjustments:
Three Months Ended
September 30, Nine Months Ended
September 30, 2025
2025
Employee separation $5.1 $5.1Business process optimization 6.4 21.6Total operating model optimization $11.5 $26.7 4. Net other consisted of the following adjustments:
Three Months Ended
September 30, Nine Months Ended
September 30, 2026 2025 2026 2025 Deferred loan fee expense from debt prepayments and refinancing $— $— $— $(0.1)Other debt financing expenses 0.5 0.5 1.4 1.6 Currency remeasurement on foreign operations 0.7 1.6 1.8 (0.6)Legal and regulatory expenses, net — — — (56.0)Other non-operating (income) expense 0.1 0.2 (0.5) 0.1 Total other adjustments $1.2 $2.3 $2.7 $(55.0) 5. Consolidated Adjusted EBITDA margin is calculated by dividing Consolidated Adjusted EBITDA by total revenue.
SCHEDULE 3
TRANSUNION AND SUBSIDIARIES
Adjusted Net Income and Adjusted Diluted Earnings Per Share (Unaudited)
(in millions, except per share data) Three Months Ended
September 30, Nine Months Ended
September 30, 2026 2025 2026 2025 Net Income attributable to TransUnion $156.2 $96.6 $696.7 $354.2 Weighted-average shares outstanding: Basic 191.1 194.8 192.0 194.9 Diluted 192.6 197.2 193.8 197.2 Basic earnings per common share from: Net income attributable to TransUnion $0.82 $0.50 $3.63 $1.82 Diluted earnings per common share from: Net income attributable to TransUnion $0.81 $0.49 $3.59 $1.80 Reconciliation of Net income attributable to TransUnion to Adjusted Net Income: Net income attributable to TransUnion $156.2 $96.6 $696.7 $354.2 Expense and (income) adjustments before income tax items: Amortization of certain intangible assets 83.7 73.2 243.2 217.2 Stock-based compensation 37.0 36.4 113.6 106.9 Mergers and acquisitions, divestitures and business optimization1 0.4 6.9 (233.2) 20.2 Accelerated technology investment2 — 22.1 — 65.4 Operating model optimization program3 — 11.5 — 26.7 Net other4 0.9 1.6 2.0 (56.7)Total adjustments before income tax items $122.0 $151.8 $125.6 $379.7 Total adjustments for income taxes5 (36.6) (31.9) (112.9) (96.7)Adjusted Net Income $241.6 $216.5 $709.4 $637.2 Weighted-average shares outstanding: Basic 191.1 194.8 192.0 194.9 Diluted 192.6 197.2 193.8 197.2 Adjusted Earnings per Share: Basic $1.26 $1.11 $3.69 $3.27 Diluted $1.25 $1.10 $3.66 $3.23 Three Months Ended
September 30, Nine Months Ended
September 30, 2026 2025 2026 2025 Reconciliation of Diluted earnings per share from Net income attributable to TransUnion to Adjusted Diluted Earnings per Share: Diluted earnings per common share from: Net income attributable to TransUnion $0.81 $0.49 $3.59 $1.80 Expense and (income) adjustments before income tax items: Amortization of certain intangible assets 0.43 0.37 1.25 1.10 Stock-based compensation 0.19 0.18 0.59 0.54 Mergers and acquisitions, divestitures and business optimization1 — 0.04 (1.20) 0.10 Accelerated technology investment2 — 0.11 — 0.33 Operating model optimization program3 — 0.06 — 0.14 Net other4 — 0.01 0.01 (0.29)Total adjustments before income tax items $0.63 $0.77 $0.65 $1.92 Total adjustments for income taxes5 (0.19) (0.16) (0.58) (0.49)Adjusted Diluted Earnings per Share $1.25 $1.10 $3.66 $3.23 Each component of earnings per share is calculated independently, therefore, rounding differences exist in the table above.
1. Mergers and acquisitions, divestitures and business optimization consisted of the following adjustments:
Three Months Ended
September 30, Nine Months Ended
September 30, 2026
2025
2026
2025
Transaction and integration costs $0.4 $2.7 $8.0 $10.9Fair value and impairment adjustments — 4.2 (241.2) 9.3Total mergers and acquisitions, divestitures and business optimization $0.4 $6.9 $(233.2) $20.2 For the nine months ended September 30, 2026, fair value and impairment adjustments includes the gain on our acquisition of Trans Union de Mexico.
2. Represents expenses associated with our accelerated technology investment to migrate to the cloud. There are three components of the accelerated technology investment: (i) building foundational capabilities which includes establishing a modern, API-based and services-oriented software architecture, (ii) the migration of each application and customer data to the new enterprise platform, including the redundant software costs during the migration period, as well as the efforts to decommission the legacy system, and (iii) program enablement, which includes dedicated resources to support the planning and execution of the program. The amounts for each category of cost are as follows:
Three Months Ended
September 30, Nine Months Ended
September 30, 2025
2025
Foundational Capabilities $4.4 $16.0Migration Management 17.7 49.3Total accelerated technology investment $22.1 $65.4 3. Operating model optimization consisted of the following adjustments:
Three Months Ended
September 30, Nine Months Ended
September 30, 2025
2025
Employee separation $5.1 $5.1Business process optimization 6.4 21.6Total operating model optimization $11.5 $26.7 4. Net other consisted of the following adjustments:
Three Months Ended
September 30, Nine Months Ended
September 30, 2026
2025
2026
2025
Deferred loan fee expense from debt prepayments and refinancing $— $— $— $(0.1)Currency remeasurement on foreign operations 0.7 1.6 1.8 (0.6)Legal and regulatory expenses, net — — — (56.0)Other non-operating (income) and expense 0.2 — 0.2 — Total other adjustments $0.9 $1.6 $2.0 $(56.7) 5. Total adjustments for income taxes represents the total of adjustments discussed to calculate the Adjusted Provision for Income Taxes.
SCHEDULE 4
TRANSUNION AND SUBSIDIARIES
Adjusted Provision for Income Taxes, Effective Tax Rate and Adjusted Effective Tax Rate (Unaudited)
(dollars in millions) Three Months Ended
September 30, Nine Months Ended
September 30, 2026 2025 2026 2025 Income before income taxes$209.0 $150.1 $838.6 $500.7 Total adjustments before income tax items from Schedule 3 122.0 151.8 125.6 379.7 Adjusted income before income taxes$331.0 $301.9 $964.2 $880.4 Reconciliation of Provision for income taxes to Adjusted Provision for Income Taxes Provision for income taxes$(48.5) $(50.0) $(131.0) $(135.4)(Expense) and benefit adjustments for income taxes: Tax effect of above adjustments (27.2) (34.5) (80.1) (99.8)Eliminate impact of excess tax expense (benefit) for stock-based compensation (1.0) (1.9) (1.2) (1.6)Other1 (8.3) 4.5 (31.5) 4.7 Total adjustments for income taxes$(36.6) $(31.9) $(112.9) $(96.7)Adjusted Provision for Income Taxes$(85.1) $(81.8) $(243.8) $(232.1) Effective tax rate 23.2% 33.3% 15.6% 27.0%Adjusted Effective Tax Rate 25.7% 27.1% 25.3% 26.4% As a result of displaying amounts in millions, rounding differences may exist in the table above.
1. Other adjustments for income taxes include:
Three Months Ended
September 30, Nine Months Ended
September 30, 2026 2025 2026 2025 Deferred tax adjustments $— $1.8 $(18.0) $(5.6)Valuation allowance adjustments 1.2 0.2 (6.5) 1.7 Return to provision, audit adjustments and reserves related to prior periods (10.2) 2.4 (8.5) 7.3 Other adjustments 0.6 0.1 1.5 1.3 Total other adjustments $(8.3) $4.5 $(31.5) $4.7 SCHEDULE 5
TRANSUNION AND SUBSIDIARIES
Leverage Ratio (Unaudited)
(dollars in millions) Trailing Twelve
Months Ended
September 30, 2026Reconciliation of Net income attributable to TransUnion to Consolidated Adjusted EBITDA: Net income attributable to TransUnion $797.9 Net interest expense 225.6 Provision for income taxes 168.6 Depreciation and amortization 624.4 EBITDA $1,816.5 Expense and (income) adjustments to EBITDA: Stock-based compensation $152.3 Mergers and acquisitions, divestitures and business optimization1 (223.3)Accelerated technology investment2 19.1 Operating model optimization program3 5.6 Net other4 5.4 Total adjustments to EBITDA $(41.0)Consolidated Adjusted EBITDA 1,775.5 Adjusted EBITDA for Pre-Acquisition Period5 33.7 Leverage Ratio Adjusted EBITDA $1,809.1 Total debt $5,456.6 Less: Cash and cash equivalents 883.1 Net Debt $4,573.5 Ratio of Net Debt to Net income attributable to TransUnion 5.7 Leverage Ratio6 2.5 As a result of displaying amounts in millions, rounding differences may exist in the table above.
1. Mergers and acquisitions, divestitures and business optimization consisted of the following adjustments:
Trailing Twelve
Months Ended
September 30, 2026Transaction and integration costs $11.1 Fair value and impairment adjustments (233.7)Post-acquisition adjustments (0.7)Total mergers and acquisitions, divestitures and business optimization $(223.3) Fair value and impairment adjustments includes the gain on our acquisition of Trans Union de Mexico.
2. Represents expenses associated with our accelerated technology investment to migrate to the cloud. There are three components of the accelerated technology investment: (i) building foundational capabilities which includes establishing a modern, API-based and services-oriented software architecture, (ii) the migration of each application and customer data to the new enterprise platform, including the redundant software costs during the migration period, as well as the efforts to decommission the legacy system, and (iii) program enablement, which includes dedicated resources to support the planning and execution of the program. The amounts for each category of cost are as follows:
Trailing Twelve
Months Ended
September 30, 2026Foundational Capabilities $2.8Migration Management 16.4Total accelerated technology investment $19.1 3. Operating model optimization consisted of the following adjustments:
Trailing Twelve
Months Ended
September 30, 2026Employee separation $1.8Business process optimization 3.9Total operating model optimization $5.6 4. Net other consisted of the following adjustments:
Trailing Twelve
Months Ended
September 30, 2026Other debt financing expenses $1.9Currency remeasurement on foreign operations 2.8Other non-operating (income) and expense 0.6Total other adjustments $5.4 5. The trailing twelve months ended September 30, 2026 include Adjusted EBITDA related to Trans Union de Mexico and the mobile division of RealNetworks prior to our acquisitions in March 2026 and April 2026, respectively.
6. We define Leverage Ratio as net debt divided by Leverage Ratio Adjusted EBITDA as shown in the table above.
SCHEDULE 6
TRANSUNION AND SUBSIDIARIES
Segment Depreciation and Amortization (Unaudited)
(in millions) Three Months Ended
September 30, Nine Months Ended
September 30, 2026
2025
2026
2025
U.S. Markets$110.8 $106.7 $328.1 $313.1International 51.9 38.0 145.8 111.2Corporate 1.2 0.9 3.0 2.9Total depreciation and amortization$164.0 $145.6 $476.8 $427.2 As a result of displaying amounts in millions, rounding differences may exist in the table above.
SCHEDULE 7
TRANSUNION AND SUBSIDIARIES
Reconciliation of Non-GAAP Guidance (Unaudited)
(in millions, except per share data) Three Months Ended
December 31, 2026 Twelve Months Ended
December 31, 2026 Low High Low HighGuidance reconciliation of Net income attributable to TransUnion to Adjusted EBITDA: Net income attributable to TransUnion$127 $140 $823 $837 Interest, taxes and depreciation and amortization 281 286 1,060 1,065 EBITDA$408 $426 $1,884 $1,902 Stock-based compensation, mergers, acquisitions divestitures and business optimization-related expenses and other adjustments1 42 42 (75) (75)Adjusted EBITDA$450 $468 $1,808 $1,827 Net income attributable to TransUnion margin 10.0% 10.8% 16.0% 16.2%Consolidated Adjusted EBITDA margin2 35.6% 36.2% 35.2% 35.4% Guidance reconciliation of Diluted earnings per share to Adjusted Diluted Earnings per Share: Diluted earnings per share$0.66 $0.73 $4.26 $4.32 Adjustments to diluted earnings per share1 0.49 0.49 0.55 0.56 Adjusted Diluted Earnings per Share$1.15 $1.22 $4.81 $4.88 As a result of displaying amounts in millions, rounding differences may exist in the table above.
1. These adjustments include the same adjustments we make to our Adjusted EBITDA and Adjusted Net Income as discussed in the Non-GAAP Financial Measures section of our Earnings Release.
2. Consolidated Adjusted EBITDA margin is calculated by dividing Consolidated Adjusted EBITDA by total revenue.
Curaleaf hájí nabídku na převzetí společnosti Aurora s prémií 86 %, která implikuje cenu přibližně 5,00 USD za akcii oproti průměrné ceně 2,75 USD před zveřejněním nabídky.
, /PRNewswire/ -- Curaleaf Holdings, Inc. (TSX: CURA) (OTCQX: CURLF) ("Curaleaf"), a leading international provider of consumer and medical cannabis products, today issued the following statement in response to the Alberta Securities Commission's ruling regarding Aurora Cannabis Inc.'s ("Aurora") at-the-market ("ATM") program.
"Aurora would like shareholders to believe the ASC's ruling changes the fundamental debate. It does not," said Boris Jordan, Chairman of the Board and Chief Executive Officer of Curaleaf. "The questions confronting Aurora shareholders remain the same today as they were yesterday: why did Aurora issue shares under an ATM for less than the original offer price after Curaleaf indicated a bid was coming, why is a now 86% premium offer being dismissed as inadequate and a discounted offer, why is Curaleaf continuing to be excluded from customary diligence when others aren't, and why is the Board asking shareholders to reject a proposal before allowing a fully informed process to play out? Those questions remain unanswered."
Key facts Aurora shareholders should know:
Curaleaf's believes its application brought much needed scrutiny to Aurora's dilutive ATM activity. Aurora used the ATM program heavily in the days leading up to Curaleaf's bid, including after Curaleaf publicly announced its intention to make its offer. Aurora has now confirmed that it stopped using the program on August 18, shortly after Curaleaf challenged that activity, and has not used it since. Aurora shareholders have been spared further ATM dilution since Curaleaf raised its concerns and formally made its application.
Curaleaf's enhanced offer represents an 86% premium, not a "discount." Counter to Aurora's claims, Curaleaf's enhanced offer implied price of approximately US$5.00 per share represents a significant premium to Aurora's unaffected volume weighted average share price of approximately US$2.75. Aurora's "discount" characterization is entirely inconsistent with their own actions, given they were issuing shares pursuant to its ATM at prices as low as US$2.56 per share, a 49% discount to the enhanced Curaleaf offer, less than a month before Curaleaf's intention to make its offer. Curaleaf's enhanced offer provides clear value to Aurora shareholders.
A process that excludes Curaleaf cannot credibly be called a review of "all available strategic alternatives." Curaleaf has made a premium offer and remains ready to engage immediately, yet Aurora continues to exclude Curaleaf from customary diligence while providing access to other parties.
A combination of Curaleaf and Aurora would create the global cannabis leader, with operations across 17 countries, more than US$1.5 billion of last-twelve-month ("LTM") revenue, nearly US$350 million of LTM Adjusted EBITDA and at least US$40 million of expected annual cost synergies. Aurora shareholders would retain exposure to Aurora's international business while gaining ownership in Curaleaf's leading U.S. platform and future regulatory upside.Curaleaf remains ready to engage constructively with Aurora and pursue a transaction that delivers immediate value, meaningful future upside, and ownership in the world's largest cannabis company.
For additional information about Curaleaf's enhanced offer, visit Grow.Curaleaf.com.
IMPORTANT INFORMATION
This document does not constitute an offer to buy or the solicitation of an offer to sell any securities. The offer (the "Offer") by Curaleaf Holdings, Inc. ("Curaleaf") to purchase all outstanding common shares ("Common Shares") of Aurora Cannabis Inc. ("Aurora") is made solely by the Offer to Purchase and Circular dated August 18, 2026, as amended on October 6, 2026 and as may be further amended or supplemented.
SECURITY HOLDERS ARE URGED TO READ THE OFFER TO PURCHASE AND CIRCULAR, THE REGISTRATION STATEMENT ON FORM F-80, THE TENDER OFFER STATEMENT ON SCHEDULE 14D-1F, AND ALL OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC, BECAUSE THEY CONTAIN IMPORTANT INFORMATION. Free copies are available at www.sec.gov or by contacting the Information Agent, Carson Proxy Advisors, at 1-800-530-5189 (toll-free), 416-751-2066 (local/text), or [email protected].
NOTICE TO U.S. SHAREHOLDERS
The enforcement by investors of civil liabilities under the federal securities laws may be affected adversely by the fact that the subject company is located in a foreign country, and that some or all of its officers and directors are residents of a foreign country.
Investors should be aware that the bidder or its affiliates, directly or indirectly, may bid for or make purchases of the issuer's securities subject to the offer or of the issuer's related securities, or of the bidder's securities to be distributed or of the bidder's related securities, during the period of the tender offer, as permitted by applicable Canadian laws or provincial laws or regulations.
Curaleaf has filed with the SEC a Registration Statement on Form F-80 under the U.S. Securities Act of 1933 and a Tender Offer Statement on Schedule 14D-1F under the U.S. Securities Exchange Act of 1934. The Offer is being conducted in accordance with Section 14(e) of the Exchange Act and Regulation 14E.
THE OFFER AND THE OFFEROR SHARES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SEC OR ANY U.S. STATE SECURITIES COMMISSION, NOR HAS ANY SUCH AUTHORITY PASSED UPON THE ACCURACY OR ADEQUACY OF THIS DOCUMENT. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
The Offeror Shares have not been registered or otherwise qualified for offer and sale in certain U.S. states where shareholders may reside. No offer is made in those states except to qualifying Exempt Institutional Investors as described in the Offer to Purchase and Circular.
FORWARD-LOOKING INFORMATION
This document contains "forward-looking information" within the meaning of applicable Canadian securities laws and "forward-looking statements" within the meaning of applicable U.S. securities laws. Such statements relate to, among other things, the anticipated synergies from a combination of Curaleaf and Aurora. Forward-looking statements can often be identified by words such as "believes," "expects," "anticipates," "may," "will," or similar expressions.
Actual results may differ materially due to risks including: changes in general economic conditions; failure to satisfy conditions to the Offer; failure to realize anticipated synergies; fluctuations in foreign exchange and interest rates; regulatory changes; and other risks described under "Risk Factors" in the Offer to Purchase and Circular. The PSLRA safe harbor for forward-looking statements does not apply to statements made in connection with a tender offer. Security holders should not place undue reliance on forward-looking information. Curaleaf disclaims any obligation to update forward-looking information except as required by law.
AURORA INFORMATION
Information concerning Aurora herein is based solely on Aurora's publicly available filings and other public sources. Aurora has not reviewed this document. Neither Curaleaf nor its officers or directors assumes responsibility for the accuracy or completeness of such information.
ADDITIONAL INFORMATION
The disposition of Common Shares and the acquisition of Offeror Shares may have U.S. and Canadian tax consequences; shareholders should consult their own tax advisors. Curaleaf's disclosure documents are available on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov.
About Curaleaf Holdings
Curaleaf Holdings, Inc. (TSX: CURA) (OTCQX: CURLF) ("Curaleaf") is a leading international provider of consumer products in cannabis with a mission to enhance lives by cultivating, sharing and celebrating the power of the plant. As a high-growth cannabis company known for quality, expertise and reliability, the Company and its brands, including Curaleaf, Select, Grassroots, Find, Dark Heart, and Anthem provide industry-leading service, product selection and accessibility across the medical and adult use markets. Curaleaf International is powered by a strong presence in all stages of the supply chain. Its unique distribution network throughout Europe, Canada and Australasia brings together pioneering science and research with cutting-edge cultivation, extraction and production. Curaleaf is listed on the Toronto Stock Exchange under the symbol CURA and trades on the OTCQX market under the symbol CURLF. For more information, please visit https://ir.curaleaf.com.
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Gentherm Inc (NASDAQ:THRM – Get Free Report) Director Paul Anthony Mascarenas acquired 20,000 shares of the stock in a transaction that occurred on Friday, October 23rd. The shares were bought at an average cost of $26.63 per share, for a total transaction of $532,600.00. Following the completion of the transaction, the director directly owned 22,677 shares of the company’s stock, valued at $603,888.51. This represents a 747.10% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink.
Gentherm Stock Performance Shares of THRM stock opened at $28.59 on Tuesday. The firm has a market cap of $878.86 million, a P/E ratio of 95.30, a PEG ratio of 0.66 and a beta of 1.37. The stock’s 50-day moving average is $35.33 and its two-hundred day moving average is $34.16. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.05 and a quick ratio of 1.47. Gentherm Inc has a fifty-two week low of $25.31 and a fifty-two week high of $48.35.
Gentherm (NASDAQ:THRM – Get Free Report) last posted its earnings results on Thursday, October 22nd. The auto parts company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.31). Gentherm had a net margin of 0.57% and a return on equity of 10.30%. The business had revenue of $405.10 million during the quarter, compared to analyst estimates of $404.16 million. During the same quarter last year, the firm earned $0.73 earnings per share. Gentherm’s revenue was up 4.7% compared to the same quarter last year. Analysts predict that Gentherm Inc will post 2.89 earnings per share for the current fiscal year.
Gentherm announced that its board has authorized a stock buyback program on Thursday, July 23rd that authorizes the company to repurchase $400 million in shares. This repurchase authorization authorizes the auto parts company to buy up to 36.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued. Gentherm Announces Dividend The business also recently disclosed a special dividend, which was paid on Wednesday, October 7th. Investors of record on Monday, September 28th were paid a $1.90 dividend.
Institutional Inflows and Outflows Large investors have recently modified their holdings of the business. Meeder Asset Management Inc. acquired a new stake in shares of Gentherm in the second quarter worth $30,000. Allworth Financial LP bought a new position in Gentherm during the second quarter worth $37,000. Public Employees Retirement System of Ohio acquired a new position in Gentherm during the 2nd quarter valued at $39,000. Globeflex Capital L P acquired a new position in Gentherm during the 2nd quarter valued at $133,000. Finally, Palouse Capital Management Inc. raised its stake in Gentherm by 14.2% during the 2nd quarter. Palouse Capital Management Inc. now owns 4,822 shares of the auto parts company’s stock valued at $164,000 after purchasing an additional 600 shares during the last quarter. 97.13% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades A number of equities analysts have recently commented on the stock. CJS Securities began coverage on shares of Gentherm in a research report on Monday, September 14th. They issued an “outperform” rating and a $50.00 price target on the stock. Wall Street Zen downgraded shares of Gentherm from a “buy” rating to a “hold” rating in a report on Saturday. Zacks Research lowered shares of Gentherm from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 28th. Weiss Ratings upgraded shares of Gentherm from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Gentherm from $48.00 to $47.00 and set an “overweight” rating on the stock in a report on Friday. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $44.17.
Get Our Latest Analysis on THRM
About Gentherm (Get Free Report)
Gentherm Incorporated (NASDAQ: THRM) develops and manufactures thermal management and comfort technologies for the automotive and medical industries. The company’s automotive products include heated and cooled seating systems, climate-controlled seats, heated steering wheels, seat ventilation, and other technologies designed to improve passenger comfort and manage temperature.
Gentherm also provides battery thermal management systems and related technologies that support the performance, efficiency, and safety of electrified vehicles.
Featured Articles Five stocks we like better than Gentherm Comfort Systems Earnings: AI Slowdown or More Growth Ahead? Bristol Myers Squibb’s Cancer Breakthrough Could Have Implications Beyond Its Own Stock 5 Beaten-Down Growth Stocks Trading Like Value Plays as Cash Chases Mega-Caps Anthropic’s IPO Filing Reveals a Massive Opportunity for AI Infrastructure Giants Receive News & Ratings for Gentherm Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gentherm and related companies with MarketBeat.com's FREE daily email newsletter.
Blume Capital Management Inc. raised its holdings in Comcast Corporation (NASDAQ:CMCSA – Free Report) by 30.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 524,840 shares of the cable giant’s stock after buying an additional 122,435 shares during the quarter. Comcast accounts for 1.7% of Blume Capital Management Inc.’s investment portfolio, making the stock its 22nd largest holding. Blume Capital Management Inc.’s holdings in Comcast were worth $11,421,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of America Corp DE raised its stake in Comcast by 10.2% during the 1st quarter. Bank of America Corp DE now owns 40,864,921 shares of the cable giant’s stock worth $1,173,232,000 after buying an additional 3,783,234 shares during the period. Dimensional Fund Advisors LP grew its stake in Comcast by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 29,461,308 shares of the cable giant’s stock valued at $845,919,000 after acquiring an additional 507,097 shares during the period. First Trust Advisors LP grew its stake in Comcast by 4.9% in the first quarter. First Trust Advisors LP now owns 13,592,149 shares of the cable giant’s stock valued at $390,231,000 after acquiring an additional 630,902 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Comcast by 824.4% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,616,490 shares of the cable giant’s stock valued at $333,509,000 after acquiring an additional 10,359,800 shares during the period. Finally, Swiss National Bank increased its holdings in shares of Comcast by 5.7% during the first quarter. Swiss National Bank now owns 10,666,200 shares of the cable giant’s stock valued at $306,227,000 after acquiring an additional 574,300 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors.
Comcast Stock Performance Shares of CMCSA opened at $22.05 on Tuesday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a 50 day moving average price of $23.80 and a two-hundred day moving average price of $26.24. The firm has a market capitalization of $78.25 billion, a P/E ratio of 6.98, a P/E/G ratio of 1.61 and a beta of 0.68. Comcast Corporation has a 52 week low of $20.48 and a 52 week high of $32.85.
Comcast (NASDAQ:CMCSA – Get Free Report) last posted its earnings results on Thursday, October 22nd. The cable giant reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.08. Comcast had a return on equity of 14.64% and a net margin of 9.20%. The company had revenue of $29.30 billion for the quarter, compared to analyst estimates of $29.22 billion. During the same quarter last year, the company earned $1.12 earnings per share. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. Equities analysts forecast that Comcast Corporation will post 3.52 earnings per share for the current fiscal year. Comcast Announces Dividend The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 27th. Investors of record on Wednesday, January 6th will be issued a dividend of $0.33 per share. The ex-dividend date is Wednesday, January 6th. This represents a $1.32 annualized dividend and a yield of 6.0%. Comcast’s dividend payout ratio is 41.77%.
Trending Headlines about Comcast Here are the key news stories impacting Comcast this week:
Positive Sentiment: Third-quarter updates highlighted Peacock’s continued profitability and wireless customer growth. These gains, along with approximately 1% pro forma adjusted EBITDA growth, helped offset some weakness in the company’s connectivity businesses. Comcast Q3 2026 Earnings Call Highlights Positive Sentiment: Comcast’s latest reported quarter included adjusted earnings of $1.07 per share, ahead of the $0.99 consensus estimate, while revenue of $29.30 billion was slightly above expectations. The earnings beat provides some support for the stock’s valuation, although year-over-year revenue declined. Neutral Sentiment: Reported short interest was zero shares as of October 26, implying no measurable days-to-cover exposure. This suggests limited evidence of a significant short-selling buildup, but the unusual figure may warrant verification. Neutral Sentiment: Oppenheimer maintained a “hold” stance, while Comcast’s recent visibility among Zacks users reflects increased investor attention rather than a clear change in fundamentals. Oppenheimer Hold Rating Negative Sentiment: Broadband pressure remains the main concern: connectivity and platforms revenue fell 2.6%, and Comcast is experiencing widening broadband losses. Analysts are focused on whether Peacock and wireless growth can sustainably offset deterioration in the core cable business. Comcast Q3 Results Negative Sentiment: Freedom Broker cut its price target from $29 to $25 and assigned a “hold” rating. Although the revised target implies potential upside from the referenced price, the reduction signals less confidence in Comcast’s near-term recovery. TD Cowen has also issued a pessimistic forecast. Freedom Broker Comcast Rating Wall Street Analysts Forecast Growth A number of equities analysts have recently weighed in on the company. Scotiabank lowered their target price on Comcast from $29.00 to $27.50 and set a “sector perform” rating on the stock in a research report on Friday, October 2nd. Deutsche Bank Aktiengesellschaft raised shares of Comcast from a “hold” rating to a “buy” rating and reduced their price target for the company from $34.00 to $32.00 in a research report on Tuesday, June 30th. Royal Bank Of Canada set a $26.00 price target on shares of Comcast and gave the company a “sector perform” rating in a research note on Friday, July 24th. Morgan Stanley lowered their price objective on shares of Comcast from $29.00 to $27.00 and set an “equal weight” rating on the stock in a report on Friday, September 25th. Finally, Weiss Ratings downgraded shares of Comcast from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday. Eleven research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and six have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $30.37.
Read Our Latest Research Report on Comcast
Comcast Company Profile (Free Report)
Comcast Corporation is a global media and communications company headquartered in Philadelphia, Pennsylvania. Founded in 1963 as American Cable Systems, the company grew through the expansion of cable television and broadband services and adopted the Comcast name in 1969.
Through its Connectivity & Platforms businesses, Comcast provides residential and business customers with broadband internet, video, voice, mobile and related services. Its Xfinity brand offers internet, television, streaming and wireless products in the United States, while Comcast Business serves commercial and enterprise customers with connectivity, communications and technology solutions.
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Společnost Brown & Brown ve třetím čtvrtletí zvýšila tržby meziročně o 7,4 % na 1,70 mld. USD, ale upravený zisk na akcii ve výši 1,07 USD i tržby zaostaly za očekáváním analytiků.
Citizens Financial Group Inc. RI grew its position in Brown & Brown, Inc. (NYSE:BRO – Free Report) by 492.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,495 shares of the financial services provider’s stock after purchasing an additional 36,158 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Brown & Brown were worth $2,900,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BRO. BlackRock Inc. bought a new stake in shares of Brown & Brown during the 2nd quarter valued at $1,418,571,000. Principal Financial Group Inc. raised its position in Brown & Brown by 1.6% during the first quarter. Principal Financial Group Inc. now owns 15,608,720 shares of the financial services provider’s stock valued at $1,017,847,000 after purchasing an additional 246,172 shares in the last quarter. Deutsche Bank AG bought a new stake in Brown & Brown during the second quarter worth $266,941,000. Bank of America Corp DE boosted its holdings in shares of Brown & Brown by 45.2% in the 1st quarter. Bank of America Corp DE now owns 3,623,179 shares of the financial services provider’s stock valued at $236,268,000 after purchasing an additional 1,128,417 shares in the last quarter. Finally, Royal Bank of Canada grew its position in Brown & Brown by 5.1% in the first quarter. Royal Bank of Canada now owns 3,569,784 shares of the financial services provider’s stock valued at $232,786,000 after acquiring an additional 173,320 shares during the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth BRO has been the topic of several research reports. Mizuho decreased their price target on shares of Brown & Brown from $83.00 to $78.00 and set an “outperform” rating on the stock in a report on Wednesday, October 7th. The Goldman Sachs Group lifted their price target on Brown & Brown from $62.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, July 1st. Weiss Ratings upgraded shares of Brown & Brown from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday. BMO Capital Markets upped their price target on shares of Brown & Brown from $73.00 to $74.00 and gave the company a “market perform” rating in a research report on Wednesday, July 29th. Finally, Oppenheimer initiated coverage on shares of Brown & Brown in a research note on Wednesday, October 7th. They issued an “outperform” rating and a $73.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $76.00.
Get Our Latest Stock Report on BRO Key Headlines Impacting Brown & Brown Here are the key news stories impacting Brown & Brown this week:
Positive Sentiment: Third-quarter revenue increased 7.4% year over year to $1.725 billion, while net income attributable to Brown & Brown rose 5.7% to $240 million. Adjusted diluted EPS increased 1.9% to $1.07. Brown & Brown third-quarter results Positive Sentiment: For the first nine months, revenue grew 23.4% to $5.3 billion and net income increased 20.8% to $954 million, supported partly by the integration of approximately 5,000 employees from the Accession acquisition. Brown & Brown nine-month results Neutral Sentiment: Management said the company continued winning customers despite a challenging insurance-rate environment. Investors will look for additional detail during the October 27 conference call regarding organic growth, acquisition integration and the outlook. Negative Sentiment: Adjusted EPS of $1.07 fell short of the $1.08 consensus estimate, while revenue of $1.70 billion missed the $1.76 billion analyst forecast. Brown & Brown misses third-quarter estimates Negative Sentiment: Core organic revenue grew only 1.2%—1.5% including contingents—raising concerns that reported growth remains heavily dependent on acquisitions. Adjusted EBITDAC margin declined to 34.6% from 36.6%, and diluted GAAP EPS decreased 1.5% to $0.67. Brown & Brown organic growth and margin results Brown & Brown Stock Down 2.1% Brown & Brown stock opened at $71.44 on Tuesday. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $23.90 billion, a PE ratio of 22.54, a PEG ratio of 2.27 and a beta of 0.60. The firm’s fifty day moving average is $67.25 and its 200 day moving average is $67.09. Brown & Brown, Inc. has a 12-month low of $53.81 and a 12-month high of $89.05.
Brown & Brown (NYSE:BRO – Get Free Report) last issued its earnings results on Monday, October 26th. The financial services provider reported $1.07 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.01). Brown & Brown had a net margin of 17.75% and a return on equity of 13.17%. The firm had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the prior year, the business earned $1.05 earnings per share. The business’s quarterly revenue was up 7.4% on a year-over-year basis. As a group, sell-side analysts predict that Brown & Brown, Inc. will post 4.49 EPS for the current fiscal year.
Brown & Brown Increases Dividend The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 11th. Shareholders of record on Wednesday, November 4th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, November 4th. This represents a $0.72 dividend on an annualized basis and a yield of 1.0%. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.1650. Brown & Brown’s payout ratio is presently 20.82%.
Brown & Brown Profile (Free Report)
Brown & Brown, Inc is an insurance brokerage and risk management company headquartered in Daytona Beach, Florida. The company helps businesses, public entities, individuals and other organizations identify, manage and transfer risk by arranging insurance coverage and providing related advisory services.
Its operations include retail insurance brokerage, national programs, wholesale brokerage and services. Brown & Brown offers property and casualty insurance, employee benefits, personal insurance, surety and other specialized coverage.
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Vertiv dokončil akvizici společnosti UtilityInnovation Group za zhruba 1,45 miliardy USD, čímž rozšířil svou nabídku pro datová centra o řízení mikrosítí a výrobu energie přímo v místě spotřeby.
~$1.45 billion acquisition expected to expand Vertiv's addressable opportunity in power-constrained data centers
UIG's proven team and proprietary technology add microgrid controls, onsite generation orchestration, microgrid-specific switchgear and behind-the-meter power architecture to Vertiv's portfolio
Extends Vertiv's power and cooling portfolio from grid interconnect to chip, independent of any single generation technology or supplier
, /PRNewswire/ -- Vertiv Holdings Co. (NYSE: VRT) ("Vertiv"), a global leader in critical digital infrastructure, today announced its wholly-owned subsidiary, Vertiv Corporation, has completed its acquisition of Utility Innovation Holdings, Inc., which operates as UtilityInnovation Group ("UIG") for approximately $1.45 billion in upfront cash. The transaction includes additional contingent consideration of up to $1.15 billion in cash based on achieving certain earnings before interest, taxes, depreciation and amortization ("EBITDA") targets over 12- and 24-month periods.
UIG is a leader in microgrid solutions, advanced power controls and behind-the-meter power architecture design for data centers. The acquisition extends Vertiv upstream to the grid interconnect, adding microgrid controls, onsite generation and energy storage orchestration, and behind-the-meter power architecture. These capabilities are expected to help data center operators secure power faster as grid constraints increasingly limit AI infrastructure deployment.
"We are pleased to welcome the UIG team to Vertiv," said Vertiv CEO Giordano Albertazzi. "As AI data center operators work to accelerate deployment in an increasingly power-constrained environment, access to power has become a critical competitive advantage. With UIG now part of Vertiv, we can extend our capabilities upstream to the utility interconnect and onsite power sources, creating a coordinated solution, from behind-the-meter power generation to chip, that helps customers achieve faster time to power without tying them to a single generation technology or supplier."
The Vertiv and UIG combination is expected to give customers greater flexibility in how they source, manage and scale power as data center requirements evolve by:
Accelerating access to power to ease or eliminate dependence on utility interconnection timelines,Enabling Behind the Meter (BTM) site capacity to scale beyond what the grid alone can provide, andProviding a single accountable relationship from grid interconnect through rack-level infrastructure."UIG is excited to advance its mission to solve the power constraints that are slowing AI data center development," said Sidney Hinton, Founder and CEO of UIG. "As part of Vertiv, we will be able to bring our microgrid and behind-the-meter power expertise to a broader set of customers globally, helping accelerate deployment of the critical infrastructure needed to support the growth of AI."
J.P. Morgan Securities LLC acted as financial advisor to Vertiv, and Buchanan Ingersoll & Rooney PC served as legal counsel. Morgan Stanley & Co. LLC acted as financial advisor to UIG, and Davis Polk & Wardwell LLP served as legal counsel.
For more information about Vertiv's end-to-end portfolio of power and thermal management systems, infrastructure solutions and lifecycle services, visit Vertiv.com.
About Vertiv Holdings Co.
Vertiv Holdings Co. (NYSE: VRT) brings together hardware, software, analytics and ongoing services to enable its customers' vital applications to run continuously, perform optimally and grow with their business needs. Vertiv solves the most important challenges facing today's data centers, communication networks and commercial and industrial facilities with a portfolio of power, cooling and IT infrastructure solutions and services that extends from the cloud to the edge of the network. Headquartered in Westerville, Ohio, USA, Vertiv does business in more than 130 countries. For more information, and for the latest news and content from Vertiv, visit Vertiv.com.
Category: Financial News
About UIG
Founded in 2020, UIG is headquartered in Raleigh, North Carolina, with European headquarters in Dublin, Ireland, and manufacturing operations in North Carolina and New Jersey. The company designs and delivers power systems that support real-time load and frequency balancing across behind-the-meter systems and utility-connected energy resources, helping address the power demands of AI data center workloads. Its solutions include proprietary controls software, customized microgrid switchgear and energy storage.
Forward-looking statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27 of the Securities Act, and Section 21E of the Securities Exchange Act. These statements are only a prediction. Actual events or results may differ materially from those in the forward-looking statements set forth herein. Readers are referred to Vertiv's filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q for a discussion of these and other important risk factors concerning Vertiv and its operations. Those risk factors and risks related to the transaction, among others, could cause actual results to differ materially from historical performance and include, but are not limited to: the successful integration of UIG; expected expenses related to the integration; the possible diversion of management time on issues related to the integration; the ability of Vertiv to maintain relationships with customers and suppliers of UIG; the ability of Vertiv to retain management and key employees of UIG; and whether Vertiv would realize anticipated synergies and accretion contemplated by the acquisition. Vertiv is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.
For investor inquiries, please contact:
Lynne Maxeiner
Vice President, Global Treasury & Investor Relations
Vertiv
E: [email protected]
For media inquiries, please contact:
Ruder Finn for Vertiv
E: [email protected]
Irský soud schválil přesun sídla společnosti Weatherford z Irska do Delaware; dokončení se očekává 13. listopadu 2026. Ticker WFRD na burze Nasdaq zůstane zachován.
HOUSTON, Oct. 27, 2026 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) today announced that the High Court of Ireland has approved the previously announced scheme of arrangement through which the Company intends to change its legal domicile from Ireland to Delaware.
Weatherford expects to complete the redomestication on November 13, 2026, subject to the satisfaction of customary closing conditions. Upon completion, Weatherford International Corp, a Delaware corporation, will become the publicly traded parent company of the Weatherford group.
The redomestication will not change the Company’s operations, management, business strategy or headquarters. Weatherford’s shares are expected to continue trading on the Nasdaq Global Select Market under the ticker symbol “WFRD.”
Additional information regarding the redomestication is available in Weatherford’s filings with the U.S. Securities and Exchange Commission.
About Weatherford
Weatherford is a global energy services company that helps customers drill smarter, complete wells more effectively, and maximize production across the entire well lifecycle. With a differentiated portfolio of market-leading solutions, integrated technologies, and a broad global customer footprint across six continents, we blend advanced engineering, digital intelligence, and world-class field expertise to reduce risk, improve performance, and maximize the value of customer assets. Together, we elevate every operation, delivering stronger wells, sharper decisions, and better energy for the world. Visit weatherford.com for more information and connect with us on social media.
Forward-Looking Statements
This release, as well as other statements we make, includes 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. Statements that are not historical facts, including statements about Weatherford’s beliefs, plans, estimates, or expectations, are forward-looking statements. Forward-looking statements often use words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “goal,” “intend,” “plan,” “potential,” “should,” “target,” “will,” and other words of similar meaning. Such forward-looking statements include, but are not limited to, statements regarding the Redomestication, the related restructuring activities and the expected timing and financial implications. These statements are based on current beliefs, plans, estimates, and expectations, all of which involve risk and uncertainty. Actual results may differ materially from those included in such forward-looking statements and therefore you should not place undue reliance on them.
The factors that could cause actual results to differ materially from current expectations include, but are not limited to, our ability to satisfy the conditions to the Redomestication within the expected timeframe or at all; our ability to realize the expected benefits from the Redomestication; the occurrence of difficulties in connection with the Redomestication, including any costs related thereto; the risk that the Redomestication disrupts current plans and operations; any changes in tax laws, tax treaties or tax regulations or the interpretation or enforcement thereof by the tax authorities in Ireland, the United States and other jurisdictions following the Redomestication; and the future financial performance of Weatherford following the Redomestication.
The foregoing factors are in addition to those other risks, uncertainties, and factors included in the “Risk Factors” section and elsewhere in Weatherford’s reports filed with the SEC, including annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, and other documents filed with the SEC. There may be other risks and uncertainties that we are not currently aware of or are unable to predict and which may also affect Weatherford’s forward-looking statements and may cause actual results and the timing of events to differ materially from those anticipated. The forward-looking statements made in this communication are made only as of the date hereof or as of the dates indicated in the forward-looking statements and Weatherford undertakes no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.
For Investors:
Luke Lemoine
Senior Vice President, Corporate Development & Investor Relations
Hourglass Capital LLC bought a new stake in Paychex, Inc. (NASDAQ:PAYX – Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 58,635 shares of the business services provider’s stock, valued at approximately $5,776,000.
A number of other hedge funds also recently made changes to their positions in the business. Field & Main Bank bought a new stake in shares of Paychex during the second quarter valued at about $33,000. Leonteq Securities AG boosted its position in shares of Paychex by 2,669.2% in the first quarter. Leonteq Securities AG now owns 360 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 347 shares during the period. Castleark Management LLC bought a new position in shares of Paychex in the second quarter valued at approximately $35,000. Elevation Wealth Partners LLC boosted its position in shares of Paychex by 45.5% in the second quarter. Elevation Wealth Partners LLC now owns 400 shares of the business services provider’s stock valued at $39,000 after acquiring an additional 125 shares during the period. Finally, Cornerstone Planning Group LLC grew its stake in Paychex by 62.5% during the first quarter. Cornerstone Planning Group LLC now owns 481 shares of the business services provider’s stock valued at $45,000 after acquiring an additional 185 shares in the last quarter. 83.47% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades A number of analysts recently weighed in on the stock. Robert W. Baird decreased their target price on shares of Paychex from $125.00 to $110.00 and set a “neutral” rating on the stock in a report on Monday, September 28th. Morgan Stanley raised their price target on shares of Paychex from $107.00 to $109.00 and gave the company an “equal weight” rating in a report on Tuesday, June 30th. BMO Capital Markets reduced their price target on shares of Paychex from $118.00 to $113.00 and set a “market perform” rating for the company in a research report on Thursday, September 24th. Wells Fargo & Company boosted their price target on shares of Paychex from $95.00 to $111.00 and gave the company an “underweight” rating in a research report on Wednesday, September 9th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Paychex in a report on Thursday, September 17th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Paychex has a consensus rating of “Hold” and a consensus price target of $127.59.
Check Out Our Latest Stock Report on PAYX Paychex Price Performance Shares of NASDAQ:PAYX opened at $115.70 on Tuesday. The company’s fifty day moving average price is $113.83 and its 200-day moving average price is $103.64. The firm has a market capitalization of $41.19 billion, a price-to-earnings ratio of 20.97, a PEG ratio of 2.48 and a beta of 0.86. Paychex, Inc. has a one year low of $85.45 and a one year high of $127.98. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.28 and a quick ratio of 1.28.
Paychex (NASDAQ:PAYX – Get Free Report) last posted its quarterly earnings data on Wednesday, September 23rd. The business services provider reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.02. Paychex had a net margin of 27.35% and a return on equity of 52.78%. The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the previous year, the firm posted $1.22 EPS. The firm’s revenue was up 5.9% compared to the same quarter last year. Paychex has set its FY 2027 guidance at 5.896-6.006 EPS. On average, equities research analysts anticipate that Paychex, Inc. will post 5.96 earnings per share for the current fiscal year.
Paychex Dividend Announcement The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Monday, October 26th will be issued a dividend of $1.19 per share. This represents a $4.76 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Monday, October 26th. Paychex’s dividend payout ratio (DPR) is currently 94.44%.
Insiders Place Their Bets In other Paychex news, Director Joseph Velli sold 7,839 shares of the company’s stock in a transaction that occurred on Wednesday, October 14th. The stock was sold at an average price of $107.68, for a total value of $844,103.52. Following the completion of the sale, the director owned 81,725 shares of the company’s stock, valued at $8,800,148. This represents a 8.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.60% of the stock is owned by insiders.
Paychex Company Profile (Free Report)
Paychex, Inc provides payroll, human resources and employee-benefits solutions to small and medium-sized businesses. Its offerings include payroll processing, tax administration, time and attendance management, recruiting, onboarding, human resources administration, compliance support and employee benefits services.
The company also provides retirement-plan services, insurance solutions and professional employer organization services. Through its software and outsourced services, Paychex helps employers manage workforce administration, employee data and regulatory requirements.
Paychex was founded in 1971 by B.
Featured Articles Five stocks we like better than Paychex Comfort Systems Earnings: AI Slowdown or More Growth Ahead? Bristol Myers Squibb’s Cancer Breakthrough Could Have Implications Beyond Its Own Stock 5 Beaten-Down Growth Stocks Trading Like Value Plays as Cash Chases Mega-Caps Anthropic’s IPO Filing Reveals a Massive Opportunity for AI Infrastructure Giants Want to see what other hedge funds are holding PAYX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Paychex, Inc. (NASDAQ:PAYX – Free Report).
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Významný akcionář Nippon Life Insurance Co. koupil 22. října 246 440 akcií společnosti Corebridge Financial za 8 662 366 USD při průměrné ceně 35,15 USD za akcii.
Corebridge Financial, Inc. (NYSE:CRBG – Get Free Report) major shareholder Life Insurance Co Nippon bought 246,440 shares of the company’s stock in a transaction that occurred on Thursday, October 22nd. The shares were bought at an average cost of $35.15 per share, for a total transaction of $8,662,366.00. Following the completion of the acquisition, the insider owned 130,667,106 shares of the company’s stock, valued at $4,592,948,775.90. This trade represents a 0.19% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Life Insurance Co Nippon also recently made the following trade(s):
On Wednesday, October 21st, Life Insurance Co Nippon bought 217,182 shares of Corebridge Financial stock. The shares were acquired at an average cost of $35.38 per share, with a total value of $7,683,899.16. On Tuesday, October 20th, Life Insurance Co Nippon acquired 193,357 shares of Corebridge Financial stock. The shares were acquired at an average cost of $35.01 per share, with a total value of $6,769,428.57. On Monday, October 19th, Life Insurance Co Nippon bought 162,024 shares of Corebridge Financial stock. The stock was acquired at an average price of $34.51 per share, for a total transaction of $5,591,448.24. On Friday, October 16th, Life Insurance Co Nippon acquired 347,195 shares of Corebridge Financial stock. The shares were bought at an average cost of $34.71 per share, with a total value of $12,051,138.45. On Thursday, October 15th, Life Insurance Co Nippon acquired 510,873 shares of Corebridge Financial stock. The stock was acquired at an average price of $33.43 per share, with a total value of $17,078,484.39. On Wednesday, October 14th, Life Insurance Co Nippon purchased 602,103 shares of Corebridge Financial stock. The stock was bought at an average cost of $34.03 per share, for a total transaction of $20,489,565.09. On Tuesday, October 13th, Life Insurance Co Nippon purchased 253,776 shares of Corebridge Financial stock. The stock was acquired at an average price of $34.68 per share, for a total transaction of $8,800,951.68. On Monday, October 12th, Life Insurance Co Nippon purchased 143,190 shares of Corebridge Financial stock. The stock was bought at an average price of $34.49 per share, for a total transaction of $4,938,623.10. On Friday, October 9th, Life Insurance Co Nippon acquired 336,750 shares of Corebridge Financial stock. The stock was bought at an average price of $34.07 per share, with a total value of $11,473,072.50. On Thursday, October 8th, Life Insurance Co Nippon acquired 261,198 shares of Corebridge Financial stock. The stock was purchased at an average cost of $34.30 per share, with a total value of $8,959,091.40. Corebridge Financial Stock Performance NYSE CRBG opened at $34.68 on Tuesday. Corebridge Financial, Inc. has a 52-week low of $22.19 and a 52-week high of $35.64. The business’s 50-day moving average price is $33.92 and its 200 day moving average price is $29.73. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.14. The firm has a market cap of $15.46 billion, a P/E ratio of 7.85, a P/E/G ratio of 0.49 and a beta of 1.07.
Corebridge Financial (NYSE:CRBG – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.04. The company had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.66 billion. Corebridge Financial had a net margin of 4.37% and a return on equity of 17.37%. During the same quarter in the prior year, the firm earned $1.36 EPS. On average, equities research analysts expect that Corebridge Financial, Inc. will post 4.59 earnings per share for the current year. Corebridge Financial Dividend Announcement The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Wednesday, September 16th. Corebridge Financial’s dividend payout ratio (DPR) is presently 58.48%.
Institutional Investors Weigh In On Corebridge Financial Institutional investors and hedge funds have recently modified their holdings of the stock. Signaturefd LLC grew its stake in Corebridge Financial by 363.8% during the 3rd quarter. Signaturefd LLC now owns 4,643 shares of the company’s stock valued at $154,000 after purchasing an additional 3,642 shares in the last quarter. Yousif Capital Management LLC grew its stake in Corebridge Financial by 3.9% during the 3rd quarter. Yousif Capital Management LLC now owns 75,290 shares of the company’s stock worth $2,494,000 after buying an additional 2,849 shares during the last quarter. Root Financial Partners LLC acquired a new position in Corebridge Financial during the 3rd quarter valued at about $91,000. Net Worth Advisory Group grew its holdings in Corebridge Financial by 16.0% in the 3rd quarter. Net Worth Advisory Group now owns 8,323 shares of the company’s stock worth $280,000 after buying an additional 1,149 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its holdings in Corebridge Financial by 5.0% in the third quarter. State of Alaska Department of Revenue now owns 24,915 shares of the company’s stock worth $825,000 after purchasing an additional 1,196 shares during the period. Hedge funds and other institutional investors own 98.25% of the company’s stock.
Wall Street Analyst Weigh In Several analysts have issued reports on the stock. Weiss Ratings raised shares of Corebridge Financial from a “hold (c-)” rating to a “hold (c+)” rating in a report on Thursday, August 6th. UBS Group boosted their price objective on shares of Corebridge Financial from $32.00 to $36.00 and gave the company a “neutral” rating in a research report on Tuesday, October 6th. Barclays lifted their price objective on Corebridge Financial from $33.00 to $39.00 and gave the company an “overweight” rating in a research report on Wednesday, October 7th. Jefferies Financial Group lifted their price target on Corebridge Financial from $43.00 to $45.00 and gave the company a “buy” rating in a report on Friday, July 10th. Finally, Piper Sandler upped their price target on shares of Corebridge Financial from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, October 12th. Nine research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Corebridge Financial currently has a consensus rating of “Moderate Buy” and an average price target of $39.00.
Get Our Latest Stock Analysis on Corebridge Financial
Corebridge Financial Company Profile (Get Free Report)
Corebridge Financial, Inc (NYSE: CRBG) is a provider of retirement solutions and insurance products in the United States. The company serves individuals, employers and institutions through offerings designed to support retirement savings, income planning and financial protection.
Its products and services include individual and group retirement plans, annuities, life insurance and institutional retirement solutions. Corebridge also provides investment and administrative services associated with retirement plans, helping employers and employees manage long-term savings and retirement income needs.
Corebridge was established through the separation of American International Group’s (AIG) Life and Retirement business and began operating as an independent publicly traded company in 2022.
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Citizens Financial Group Inc. RI raised its holdings in Atlassian Corporation PLC (NASDAQ:TEAM – Free Report) by 67.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 14,802 shares of the technology company’s stock after acquiring an additional 5,965 shares during the period. Citizens Financial Group Inc. RI’s holdings in Atlassian were worth $2,654,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in TEAM. Carmignac Gestion boosted its stake in Atlassian by 115.8% during the 1st quarter. Carmignac Gestion now owns 2,603,770 shares of the technology company’s stock valued at $177,707,000 after purchasing an additional 1,397,402 shares during the period. First Trust Advisors LP increased its holdings in shares of Atlassian by 48.4% during the first quarter. First Trust Advisors LP now owns 2,349,842 shares of the technology company’s stock valued at $160,377,000 after purchasing an additional 766,922 shares during the period. KBC Group NV raised its stake in shares of Atlassian by 1,691.2% during the first quarter. KBC Group NV now owns 1,440,019 shares of the technology company’s stock valued at $98,281,000 after purchasing an additional 1,359,624 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Atlassian by 111.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 469,100 shares of the technology company’s stock valued at $84,105,000 after buying an additional 247,540 shares in the last quarter. Finally, Artemis Investment Management LLP raised its position in shares of Atlassian by 53.0% during the 3rd quarter. Artemis Investment Management LLP now owns 461,537 shares of the technology company’s stock worth $82,749,000 after buying an additional 159,884 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.
Atlassian Stock Performance TEAM stock opened at $223.41 on Tuesday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $56.69 billion, a price-to-earnings ratio of -1,175.84, a P/E/G ratio of 24.27 and a beta of 1.22. Atlassian Corporation PLC has a 12 month low of $56.01 and a 12 month high of $229.96. The firm has a 50 day moving average of $191.93 and a two-hundred day moving average of $117.06.
Atlassian (NASDAQ:TEAM – Get Free Report) last announced its quarterly earnings results on Friday, August 7th. The technology company reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.37. Atlassian had a positive return on equity of 20.99% and a negative net margin of 0.82%. The company had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter in the previous year, the firm earned $0.98 earnings per share. The business’s quarterly revenue was up 27.6% compared to the same quarter last year. As a group, equities analysts anticipate that Atlassian Corporation PLC will post 0.69 EPS for the current fiscal year. Analysts Set New Price Targets Several analysts have recently weighed in on the company. Morgan Stanley upped their price objective on Atlassian from $120.00 to $180.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Raymond James Financial set a $180.00 target price on shares of Atlassian in a report on Friday, August 7th. Guggenheim boosted their target price on Atlassian from $165.00 to $280.00 and gave the stock a “buy” rating in a research report on Monday, October 19th. Citigroup lifted their price target on Atlassian from $225.00 to $245.00 and gave the stock a “buy” rating in a research note on Tuesday, October 20th. Finally, Mizuho raised their target price on shares of Atlassian from $215.00 to $235.00 and gave the stock an “outperform” rating in a report on Thursday, October 15th. Twenty-four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $213.35.
Read Our Latest Analysis on Atlassian
Insider Activity In other Atlassian news, CAO Gene Liu sold 337 shares of the company’s stock in a transaction on Monday, October 12th. The stock was sold at an average price of $210.00, for a total value of $70,770.00. Following the sale, the chief accounting officer directly owned 55,531 shares in the company, valued at $11,661,510. This represents a 0.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CRO Brian Duffy sold 1,851 shares of the stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $172.45, for a total transaction of $319,204.95. Following the sale, the executive owned 218,223 shares of the company’s stock, valued at $37,632,556.35. This trade represents a 0.84% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 22,475 shares of company stock worth $3,822,643. Company insiders own 37.63% of the company’s stock.
Atlassian Company Profile (Free Report)
Atlassian Corporation develops collaboration, project-management and workflow software for technology, business and service teams. Its products are designed to help organizations plan projects, manage software development, coordinate work and share knowledge across departments.
Its product portfolio includes Jira for project and issue tracking, Confluence for team collaboration and knowledge management, Jira Service Management for IT and enterprise service workflows, Trello for organizing tasks and projects, Loom for video messaging and screen recording, and Bitbucket for source-code management and collaboration.
See Also Five stocks we like better than Atlassian Comfort Systems Earnings: AI Slowdown or More Growth Ahead? Bristol Myers Squibb’s Cancer Breakthrough Could Have Implications Beyond Its Own Stock 5 Beaten-Down Growth Stocks Trading Like Value Plays as Cash Chases Mega-Caps Anthropic’s IPO Filing Reveals a Massive Opportunity for AI Infrastructure Giants Want to see what other hedge funds are holding TEAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Atlassian Corporation PLC (NASDAQ:TEAM – Free Report).
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Rezdiffra® (resmetirom) to be featured in more abstracts than any other approved or investigational MASH therapyReal-world evidence abstracts examine Rezdiffra effectiveness, tolerability and treatment persistence in clinical practice; largest dataset spans more than 12,000 patientsClinical abstracts further characterize the positive effects of Rezdiffra on noninvasive measures of treatment response, cardiovascular risk markers and patient-reported outcomes CONSHOHOCKEN, Pa., Oct. 27, 2026 (GLOBE NEWSWIRE) -- Madrigal Pharmaceuticals, Inc. (NASDAQ: MDGL), a biopharmaceutical company focused on delivering novel therapeutics for metabolic dysfunction-associated steatohepatitis (MASH), today announced that new clinical and real-world evidence (RWE) evaluating Rezdiffra and its growing impact on patient care will be presented at the American Association for the Study of Liver Diseases (AASLD) The Liver Meeting®, taking place Nov. 5-9 in Denver.
Thirteen abstracts will be presented from the company’s RESONANCE program - a scientifically rigorous RWE program generating a comprehensive body of evidence across multiple data sources in MASH, such as natural history data, health systems, electronic health records, insurance claims and pharmacy data. The abstracts at AASLD will examine real-world treatment patterns, monitoring, adherence and persistence among thousands of patients receiving Rezdiffra in routine clinical practice.
“Rezdiffra established a new treatment era in MASH, and as more patients are being diagnosed and treated, real-world evidence is essential to understanding how treatment is working outside the clinical trial setting,” said David Soergel, M.D., Chief Medical Officer of Madrigal. “The breadth of research being presented at AASLD provides a robust and consistent picture of how patients are responding to Rezdiffra in the real world, including improvements in key noninvasive measures of liver health through 12 months. The observations from multiple independent datasets across thousands of treated patients reinforce Rezdiffra as a foundational treatment for MASH, and reflect our commitment to generating rigorous post-approval evidence to advance the field.”
Madrigal Data Presentations at AASLD’s The Liver Meeting 2026
Title and Abstract #PresenterClinical Research AbstractsEarly and week 52 biomarker (MRI-PDFF, ALT, MRE and PRO-C3) responses to resmetirom predict improvements in MASH and liver fibrosis
*Oral presentation 0010, Clinical Plenary #2Rohit LoombaIn F0-F3 MASH, ≥5% weight loss (WL) significantly lowers VCTE and ELF independent of biopsy fibrosis improvement; resmetirom (Res) and not placebo (Pbo) reduction of ELF and VCTE are associated with biopsy improvement of fibrosis, independent of WL
Poster #2357Rohit LoombaReducing CV risk in patients with MASH independent of baseline based on Lp(a) and LDL lowering by resmetirom
Poster #2330Meena BansalImpact of resmetirom on health-related quality of life, work productivity, and disease-specific symptoms in compensated MASH cirrhosis
Poster #2266Zobair YounossiTreatment with resmetirom improves symptom burden in MASH
Poster #3451Zobair YounossiReal World Evidence AbstractsTwelve-month changes in laboratory and imaging-based biomarkers following resmetirom initiation: a real-world analysis across cardiometabolic and concomitant medication subgroups
*Poster of Distinction #3443Anthony MartinezTwelve-month changes in laboratory and imaging-based biomarkers in patients who have initiated resmetirom: a real-world retrospective cohort analysis using electronic health records
Poster #3477Anthony MartinezReal-world medication adherence and persistence to resmetirom in patients with MASH
Poster #2530Francis LoboLeveraging a system level provider-facing fibrosis screening dashboard: signaling the need for a MASH quality measure
Poster #2197Anna MagerasReal-world characteristics and clinical effectiveness outcomes among MASH patients initiating resmetirom
Poster #3481Jeevin S. SandhuTreatment continuity with resmetirom: a real-world study of adherence and persistence in MASH
Poster #3514Francis LoboA 12-month real-world assessment of clinical characteristics and biomarker changes following resmetirom initiation in patients with MASH: A descriptive cohort study using electronic medical records in the United States
Poster #3516Naim AlkhouriReal-world characteristics, treatment patterns, and clinical outcomes among patients with MASH initiating resmetirom
Poster #3508Meena BansalDemographic, clinical, and medication use profiles of patients prescribed resmetirom: A US claims-based analysis
Poster #3568Blake ThomasTreatment persistence among patients prescribed resmetirom in a US claims-based cohort
Poster #3559Blake ThomasPatient characteristics, treatment patterns, and changes in liver function laboratory tests among resmetirom treated patients in a real-world MASH population
Poster #3577Nipun AtrejaAssociation of GLP-1 use and end-stage liver disease events in US adults with MASH
Poster #3495Nipun AtrejaEstimating real world clinical and economic implications of GLP-1 persistence and dosing in MASH
Poster #3522Florencio Calderon
Rezdiffra (resmetirom) is a once-daily, oral, liver-directed thyroid hormone receptor (THR)-β agonist designed to address key underlying causes of MASH. It was the first medication approved for the treatment of MASH in the U.S. and Europe. In the pivotal Phase 3 MAESTRO-NASH biopsy trial, Rezdiffra achieved both fibrosis improvement and MASH resolution primary endpoints. Rezdiffra also reduced liver stiffness, liver fat, liver enzymes and atherogenic lipids in the MAESTRO-NASH trial and improved health-related quality of life. At one year, 91% of patients treated with Rezdiffra 100mg achieved improvement or stabilization of liver stiffness as measured by vibrational-controlled transient elastography (VCTE), a test that is frequently used to monitor treatment response in clinical practice.
Rezdiffra is indicated in conjunction with diet and exercise for the treatment of adults with noncirrhotic MASH with moderate to advanced liver fibrosis (consistent with stages F2 to F3 fibrosis). Continued approval for this indication may be contingent upon verification and description of clinical benefit in ongoing confirmatory trials. Rezdiffra is not approved in any geography for the treatment of patients with cirrhosis.
About MASH
Metabolic dysfunction-associated steatohepatitis (MASH) is a serious liver disease that can progress to cirrhosis, liver failure, liver cancer, the need for liver transplantation and premature mortality. MASH is the leading cause of liver transplantation in women and the second leading cause of all liver transplantation in the U.S., and the fastest-growing indication for liver transplantation in Europe.
Once patients progress to MASH with moderate to advanced liver fibrosis (consistent with stages F2 to F3 fibrosis), the risk of adverse liver outcomes increases dramatically: these patients have a 10 to 17 times higher risk of liver-related mortality as compared to patients without fibrosis.
Patients with MASH who progress to cirrhosis face a 42 times higher risk of liver-related mortality, underscoring the need to treat MASH before complications of cirrhosis develop. MASH is also an independent driver of cardiovascular disease, the leading cause of mortality for patients.
As disease awareness improves and disease prevalence increases, the number of diagnosed patients F2 to F4c MASH is growing.
About Rezdiffra
What is Rezdiffra?
Rezdiffra is a prescribed medicine used along with diet and exercise to treat adults with metabolic dysfunction-associated steatohepatitis (MASH) with moderate to advanced liver scarring (fibrosis), but not with cirrhosis of the liver.
This indication is approved based on improvement of MASH and liver scarring (fibrosis). There are ongoing studies to confirm the clinical benefit of Rezdiffra.
Before you take Rezdiffra, tell your healthcare provider about all of your medical conditions, including if you:
have any liver problems other than MASH.have gallbladder problems or have been told you have gallbladder problems, including gallstones.are pregnant or plan to become pregnant. It is not known if Rezdiffra will harm your unborn baby. A pregnancy safety study for women who take Rezdiffra during pregnancy collects information about the health of you and your baby. You or your healthcare provider can report your pregnancy by visiting https://pregnancyregistry.madrigalpharma.com/ or calling 1-800-905-0324. are breastfeeding or plan to breastfeed. It is not known if Rezdiffra passes into your breast milk. Talk to your healthcare provider about the best way to feed your baby if you take Rezdiffra. Tell your healthcare provider about all the medicines you take, including prescription and over-the-counter medicines, vitamins and herbal supplements.
Rezdiffra and other medicines may affect each other, causing side effects. Rezdiffra may affect the way other medicines work, and other medicines may affect how Rezdiffra works.Especially tell your healthcare provider if you take medicines that contain gemfibrozil to help lower your triglycerides, because Rezdiffra is not recommended in patients taking these medicines.Tell your healthcare provider if you are taking medicines such as clopidogrel to thin your blood or statin medicines to help lower your cholesterol.Know the medicines you take. Keep a list of them to show your healthcare provider and pharmacist when you get a new medicine.
What are the possible side effects of Rezdiffra?
Rezdiffra may cause serious side effects, including:
liver injury (hepatotoxicity). Stop taking Rezdiffra and call your healthcare provider right away if you develop the following signs or symptoms of hepatotoxicity: tiredness, nausea, vomiting, fever, rash, your skin or the white part of your eyes turns yellow (jaundice) or stomach pain/tenderness.gallbladder problems. Gallbladder problems such as gallstones, or inflammation of the gallbladder, or inflammation of the pancreas from gallstones can occur with MASH and may occur if you take Rezdiffra. Call your healthcare provider right away if you develop any signs or symptoms of these conditions including nausea, vomiting, fever, or pain in your stomach area (abdomen) that is severe and will not go away. The pain may be felt going from your abdomen to your back and the pain may happen with or without vomiting.The most common side effects of Rezdiffra include: diarrhea, nausea, itching, stomach pain, vomiting, dizziness and constipation. These are not all the possible side effects of Rezdiffra. For more information, ask your healthcare provider or pharmacist.
Call your doctor for medical advice about side effects. You may report side effects to FDA at 1-800-FDA-1088 or www.fda.gov/medwatch. You may also report side effects to Madrigal at 1-800-905-0324.
Please see the full Prescribing Information, including Patient Information, for Rezdiffra.
About Madrigal
Madrigal Pharmaceuticals, Inc. (Nasdaq: MDGL) is a biopharmaceutical company focused on delivering novel therapeutics for metabolic dysfunction-associated steatohepatitis (MASH), a liver disease with high unmet medical need. Madrigal’s medication, Rezdiffra (resmetirom), is a once-daily, oral, liver-directed THR-β agonist designed to target key underlying causes of MASH. Rezdiffra was the first medication approved by both the FDA and European Commission for the treatment of MASH with moderate to advanced fibrosis (F2 to F3). An ongoing Phase 3 outcomes trial is evaluating Rezdiffra for the treatment of compensated MASH cirrhosis (F4c). For more information, visit www.madrigalpharma.com and follow us on LinkedIn.
Forward-Looking Statements
This press release includes “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended, including statements related to Rezdiffra’s positioning as the foundational therapy in the treatment of MASH and Madrigal’s ability to continue to generate real world evidence for Rezdiffra. Forward-looking statements are subject to a number of risks and uncertainties including, but not limited to: the assumptions underlying the forward-looking statements; our ability to successfully commercialize Rezdiffra in the U.S. and Europe; risks related to obtaining and maintaining regulatory approvals, including, but not limited to, potential regulatory delays or rejections; our history of operating losses and the possibility that we may never achieve or maintain profitability; risks associated with meeting the objectives of our clinical trials, including, but not limited to our ability to achieve enrollment objectives concerning patient numbers (including an adequate safety database), outcomes objectives and/or timing objectives for our trials; any delays or failures in enrollment, and the occurrence of adverse safety events; risks related to the effects of Rezdiffra’s (resmetirom’s) mechanism of action or of any other product candidate; market demand for and acceptance of Rezdiffra; our ability to service indebtedness and otherwise comply with debt covenants; outcomes or trends from competitors; future topline data timing or results; our ability to prevent and/or mitigate cyber-attacks; our ability to protect our intellectual property rights; the uncertainties inherent in clinical testing; uncertainties concerning analyses or assessments outside of a controlled clinical trial; and changes in laws and regulations applicable to our business and our ability to comply with such laws and regulations. Undue reliance should not be placed on forward-looking statements, which speak only as of the date they are made. Madrigal undertakes no obligation to update any forward-looking statements to reflect new information, events, or circumstances after the date they are made, or to reflect the occurrence of unanticipated events. Please refer to Madrigal’s submissions filed with the U.S. Securities and Exchange Commission (SEC) for more detailed information regarding these risks and uncertainties and other factors that may cause actual results to differ materially from those expressed or implied. Madrigal specifically discusses these risks and uncertainties in greater detail in the sections appearing in Part I, Item 1A of its Annual Report on Form 10-K for the year ended December 31, 2025, and as updated from time to time by Madrigal’s other filings with the SEC.
Madrigal may use its website to comply with its disclosure obligations under Regulation FD. Therefore, investors should monitor Madrigal’s website in addition to following its press releases, filings with the SEC, public conference calls, and webcasts.
Madrigal Pharmaceuticals, Rezdiffra® and associated logos are trademarks of Madrigal Pharmaceuticals, Inc.
Investor Contact
Tina Ventura, [email protected]
Media Contact
Krysta Pellegrino, [email protected]
Evergreen Capital Management ve třetím čtvrtletí zvýšila svůj podíl ve společnosti Graco o 283,8 % nákupem 17 211 akcií, čímž její držba vzrostla na 23 275 akcií v hodnotě 1,788 milionu USD.
Evergreen Capital Management LLC increased its stake in shares of Graco Inc. (NYSE:GGG – Free Report) by 283.8% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 23,275 shares of the industrial products company’s stock after purchasing an additional 17,211 shares during the period. Evergreen Capital Management LLC’s holdings in Graco were worth $1,788,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in GGG. BlackRock Inc. purchased a new position in Graco during the 2nd quarter valued at about $1,396,470,000. Amundi increased its position in shares of Graco by 7.5% during the second quarter. Amundi now owns 2,090,184 shares of the industrial products company’s stock valued at $158,039,000 after buying an additional 146,032 shares during the period. Caisse de depot et placement du Quebec bought a new stake in shares of Graco during the second quarter valued at about $141,667,000. First Trust Advisors LP increased its position in shares of Graco by 4.2% during the first quarter. First Trust Advisors LP now owns 1,535,923 shares of the industrial products company’s stock valued at $130,016,000 after buying an additional 61,706 shares during the period. Finally, Hsbc Holdings PLC lifted its holdings in shares of Graco by 51.8% in the first quarter. Hsbc Holdings PLC now owns 1,194,254 shares of the industrial products company’s stock worth $101,061,000 after buying an additional 407,557 shares in the last quarter. Hedge funds and other institutional investors own 93.88% of the company’s stock.
Graco Stock Performance Shares of GGG opened at $66.05 on Tuesday. The company has a market cap of $10.59 billion, a PE ratio of 21.24, a price-to-earnings-growth ratio of 2.07 and a beta of 0.89. The company has a current ratio of 2.12, a quick ratio of 1.24 and a debt-to-equity ratio of 0.04. The stock has a 50-day moving average price of $77.98 and a 200-day moving average price of $81.42. Graco Inc. has a 12-month low of $65.96 and a 12-month high of $95.69.
Graco (NYSE:GGG – Get Free Report) last issued its quarterly earnings data on Wednesday, October 21st. The industrial products company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.02). The business had revenue of $586.39 million for the quarter, compared to analysts’ expectations of $590.17 million. Graco had a return on equity of 20.13% and a net margin of 22.40%. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.73 EPS. As a group, equities analysts forecast that Graco Inc. will post 3.24 earnings per share for the current fiscal year. Graco Announces Dividend The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 4th. Investors of record on Monday, October 19th will be paid a $0.2950 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Monday, October 19th. Graco’s dividend payout ratio (DPR) is currently 37.94%.
Analysts Set New Price Targets A number of equities analysts have recently commented on GGG shares. BNP Paribas Exane cut their price objective on shares of Graco from $95.00 to $85.00 and set an “outperform” rating for the company in a research report on Friday. Wolfe Research cut shares of Graco from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 9th. DA Davidson reaffirmed a “neutral” rating and set a $85.00 target price on shares of Graco in a report on Monday, July 27th. Weiss Ratings upgraded shares of Graco from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 4th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $82.00 target price (down from $95.00) on shares of Graco in a research note on Friday. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $87.40.
Read Our Latest Analysis on GGG
Graco Profile (Free Report)
Graco Inc is a global manufacturer of equipment used to move, measure, control, dispense and apply fluids and other materials. Its products are used in industrial, commercial and residential applications involving paints, coatings, sealants, adhesives, lubricants, chemicals and other fluids.
The company’s product portfolio includes pumps, valves, meters, regulators, fluid-management systems, lubrication equipment, spray-applied coating and finishing systems, sealant and adhesive equipment, and contractor-oriented painting and texture application tools.
See Also Five stocks we like better than Graco Comfort Systems Earnings: AI Slowdown or More Growth Ahead? Bristol Myers Squibb’s Cancer Breakthrough Could Have Implications Beyond Its Own Stock 5 Beaten-Down Growth Stocks Trading Like Value Plays as Cash Chases Mega-Caps Anthropic’s IPO Filing Reveals a Massive Opportunity for AI Infrastructure Giants
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Ředitelka společnosti Selective Insurance Group Cynthia Nicholson prodala 3 691 akcií SIGI za průměrnou cenu 98,71 USD, čímž snížila svůj podíl o 17,45 %.
Selective Insurance Group, Inc. (NASDAQ:SIGI – Get Free Report) Director Cynthia Nicholson sold 3,691 shares of Selective Insurance Group stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $98.71, for a total value of $364,338.61. Following the completion of the transaction, the director owned 17,463 shares of the company’s stock, valued at approximately $1,723,772.73. This represents a 17.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Selective Insurance Group Trading Up 2.3% Shares of NASDAQ SIGI opened at $98.79 on Tuesday. Selective Insurance Group, Inc. has a 1-year low of $72.78 and a 1-year high of $101.25. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.29 and a quick ratio of 0.29. The business’s 50 day moving average is $89.01 and its two-hundred day moving average is $87.29. The stock has a market capitalization of $5.88 billion, a P/E ratio of 11.87 and a beta of 0.26.
Selective Insurance Group (NASDAQ:SIGI – Get Free Report) last posted its quarterly earnings data on Thursday, October 22nd. The insurance provider reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.46. The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.17 billion. Selective Insurance Group had a return on equity of 15.60% and a net margin of 9.40%. During the same period last year, the company earned $1.85 EPS. As a group, research analysts expect that Selective Insurance Group, Inc. will post 8.20 EPS for the current year.
Selective Insurance Group Increases Dividend The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Monday, November 16th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.9%. The ex-dividend date is Monday, November 16th. This is a boost from Selective Insurance Group’s previous quarterly dividend of $0.43. Selective Insurance Group’s payout ratio is currently 20.67%. Analysts Set New Price Targets SIGI has been the topic of several analyst reports. Oppenheimer reiterated an “outperform” rating and set a $115.00 price target on shares of Selective Insurance Group in a report on Tuesday, October 13th. BMO Capital Markets reissued a “market perform” rating on shares of Selective Insurance Group in a research note on Wednesday, October 21st. Morgan Stanley raised their price objective on shares of Selective Insurance Group from $72.00 to $80.00 and gave the stock an “underweight” rating in a research note on Monday, July 6th. Royal Bank Of Canada boosted their target price on Selective Insurance Group from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Monday, July 27th. Finally, Weiss Ratings cut Selective Insurance Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, September 1st. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $101.00.
Read Our Latest Analysis on SIGI
Institutional Inflows and Outflows A number of hedge funds have recently made changes to their positions in the stock. Signaturefd LLC lifted its holdings in Selective Insurance Group by 40.6% during the 3rd quarter. Signaturefd LLC now owns 1,412 shares of the insurance provider’s stock valued at $118,000 after buying an additional 408 shares in the last quarter. Citizens Financial Group Inc. RI bought a new position in Selective Insurance Group in the 3rd quarter worth about $206,000. Nisa Investment Advisors LLC grew its stake in Selective Insurance Group by 6.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 17,776 shares of the insurance provider’s stock worth $1,486,000 after acquiring an additional 1,064 shares in the last quarter. IFP Advisors Inc increased its position in shares of Selective Insurance Group by 51.3% during the third quarter. IFP Advisors Inc now owns 596 shares of the insurance provider’s stock worth $50,000 after acquiring an additional 202 shares during the period. Finally, Burns Matteson Capital Management LLC purchased a new position in shares of Selective Insurance Group during the third quarter worth approximately $494,000. 82.88% of the stock is currently owned by institutional investors.
More Selective Insurance Group News Here are the key news stories impacting Selective Insurance Group this week:
Positive Sentiment: Quarterly earnings beat expectations: Selective reported $2.37 in earnings per share versus the $1.91 consensus estimate, while revenue reached $1.33 billion, ahead of the $1.17 billion forecast. The results helped drive the stock to a new 52-week high. Selective Insurance Group Sets New 1-Year High on Better-Than-Expected Earnings Positive Sentiment: Underwriting and investment income remain supportive: Standard commercial renewal pricing increased 5.7% year over year in the third quarter, while after-tax net investment income rose 16%. These trends, along with underwriting discipline and investment gains, helped offset softer top-line growth. Selective Insurance: 3 Key Takeaways for Long-Term Investors Neutral Sentiment: Limited analyst upside: The reported consensus price target is $101, only modestly above the stock’s recent trading level, suggesting that much of the earnings optimism may already be reflected in the valuation. Selective Insurance Group Has Consensus Target Price of $101.00 Neutral Sentiment: Short-interest data is unclear: One report describes a large increase in short interest but simultaneously lists total short interest at zero shares and a 0.0-day short-interest ratio, making the figure unlikely to represent meaningful bearish positioning. Negative Sentiment: Director selling could weigh on sentiment: Director Cynthia Nicholson sold 3,691 shares for approximately $364,339, reducing her position by 17.45%. The sale is not necessarily evidence of deteriorating fundamentals, but it may temper investor confidence after the recent rally. Selective Insurance Group Insider Sale SEC Filing Negative Sentiment: Morgan Stanley issued a Sell rating, adding an important bearish counterpoint to the earnings-driven optimism. Selective Insurance Group Receives a Sell from Morgan Stanley (Get Free Report)
Selective Insurance Group, Inc is a holding company for a group of property and casualty insurance subsidiaries. Founded in 1926 and headquartered in Branchville, New Jersey, the company provides insurance products and related services primarily through a network of independent agents.
Selective serves commercial, personal and public-sector customers. Its commercial offerings include business owners policies, commercial automobile, workers’ compensation, general liability, commercial property and other specialty coverages.
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Americká společnost SoFi Technologies, která se zabývá osobními financemi a finančními technologiemi, zveřejnila své výsledky za třetí kvartál roku 2026. Očištěné výnosy meziročně vzrostly o 44 % na 1,37 mld. USD a překonaly očekávání trhu. Společnost zároveň zvýšila celoroční výhled očištěných výnosů na přibližně 5,04 mld. USD a nově představila výhled na rok 2027, podle kterého by očištěné výnosy měly v příštím roce dosáhnout přibližně 6,4 mld. USD.
Výsledky společnosti SoFi Technologies (SOFI) za 3Q 2026
3Q 2026
Konsensus 3Q 2026
3Q 2025
Očištěné výnosy (mld. USD)
1,37
1,27
0,95
Čistý zisk (mil. USD)
241,0
--
139,7
Očištěný zisk na akcii (EPS, USD/akcie)
0,18
0,17
0,11
Výsledky
Očištěné výnosy zaznamenaly meziroční růst o 44 % na 1,37 mld. USD.
SoFi dělí své výnosy do tří segmentů:
Očištěné výnosy ze segmentu půjčování zaznamenaly meziroční růst o 68 % na 807,4 mil. USD.
Výnosy ze segmentu finančních služeb meziročně vzrostly o 25 % na 525,1 mil. USD.
Výnosy z technologické platformy meziročně klesly o 24 % na 87,4 mil. USD, mezikvartálně ale vzrostly o 3 %. Pokles zahrnuje dopad odchodu velkého klienta, který ukončil využívání platformy před koncem roku 2025. Bez tohoto vlivu by výnosy segmentu meziročně vzrostly o 18 %.
Čistý úrokový výnos meziročně vzrostl o 59 % na 929,5 mil. USD, přičemž očekávání trhu činilo 856,5 mil. USD. Čistá úroková marže dosáhla 6,14 % a mezikvartálně se zlepšila o 16 bazických bodů. Neúrokové výnosy vzrostly o 21 % na 455,6 mil. USD při odhadu 421,1 mil. USD.
Neúrokové náklady meziročně vzrostly o 31 % na 1,05 mld. USD a byly tak nad očekáváním 998,4 mil. USD.
Očištěný zisk EBITDA zaznamenal meziroční růst o 70 % na 469,8 mil. USD, Wall Street predikovala 443,4 mil. USD. Marže očištěné EBITDA dosáhla 34 %.
Očištěný čistý zisk vzrostl meziročně o 74 % na 243,0 mil. USD, přičemž se očekávalo 226,4 mil. USD.
Společnost SoFi ve 3Q získala rekordních 1,2 mil. nových členů, celkový počet tak dosáhl 17,07 mil. při očekávání 16,89 mil. V meziročním srovnání se jedná o nárůst o 35 % z 12,64 mil. členů ve 3Q 2025. Počet poskytnutých produktů vzrostl o rekordních 2,2 mil. na 26,67 mil., meziročně o 44 % z 18,55 mil. Počet produktů na jednoho člena vystoupal na 1,56 z 1,47 před rokem.
Poskytnuté produkty v oblasti finančních služeb zaznamenaly meziroční růst o 44 % na 23,24 mil. primárně díky pokračující poptávce po produktech SoFi Money, Relay a Invest. Poskytnuté úvěrové produkty meziročně vzrostly o 39 % na 3,43 mil.
Vývoj počtu členů, poskytnutých produktů a poskytnutých produktů na člena. Zdroj: SoFi
Celkový počet aktivních klientských účtů v segmentu technologické platformy meziročně klesl o 11 % na 140,4 mil., mezikvartálně ale přibylo 6 mil. účtů.
Výhled
Společnost SoFi zvýšila celoroční výhled a pro rok 2026 nyní očekává:
Očištěné výnosy přibližně 5,04 mld. USD, což implikuje meziroční růst přibližně o 40 %. Předchozí výhled činil 4,75 až 4,85 mld. USD. Trh projektoval 4,9 mld. USD.
Očištěný zisk EBITDA přibližně 1,66 mld. USD oproti předchozím zhruba 1,6 mld. USD, což implikuje očištěnou marži EBITDA přibližně 33 %. Konsensus činil 1,63 mld. USD.
Očištěný čistý zisk by měl dosáhnout přibližně 840 mil. USD (předchozí výhled zhruba 825 mil. USD), což odpovídá marži přibližně 17 %.
Očištěný zisk na akcii ve výši přibližně 0,61 USD (předchozí výhled 0,60 USD), což implikuje meziroční růst přibližně o 56 %.
Počet členů by měl meziročně vzrůst o alespoň 30 %.
Společnost zároveň poprvé představila výhled na rok 2027, kdy očekává:
Očištěné výnosy přibližně 6,4 mld. USD, což implikuje meziroční růst přibližně o 27 %. Trh projektoval 6,01 mld. USD.
Očištěný zisk EBITDA přibližně 2,24 mld. USD, což odpovídá očištěné marži EBITDA přibližně 35 %. Konsensus činil 2,1 mld. USD.
Očištěný čistý zisk přibližně 1,28 mld. USD s marží zhruba 20 %.
Očištěný zisk na akcii přibližně 0,90 USD, což implikuje meziroční růst přibližně o 48 %.
Komentář CEO
„Výsledky za třetí kvartál byly výjimečné v jakémkoli prostředí, ale vzhledem k tomu, jak se rok 2026 vyvíjí, jsou o to pozoruhodnější,“ uvedl generální ředitel Anthony Noto. „Naše zaměření je jednoduché. Přidáváme více členů, kteří využívají více produktů a generují vyšší výnosy na produkt, abychom z dlouhodobého pohledu vytvořili co největší hodnotu pro naše akcionáře. Za méně než deset let jsme SoFi proměnili ze společnosti s jediným produktem ve finanční ‚aplikaci na všechno‘ s osmi různými obchodními oblastmi, z nichž každá generuje přes 100 milionů dolarů anualizovaných výnosů. Naše přesvědčení o příležitostech, které máme před sebou, nebylo nikdy silnější.“
Vývoj akcie
Akcie SoFi Technologies (SOFI) v předburzovní fázi obchodování posilují o 10,86 % na 16,03 USD.
Společnost Deckers Outdoor ve 2. čtvrtletí zvýšila tržby o 3,5 % na rekordních 1,48 mld. USD a dosáhla zisku na akcii (EPS) 2,31 USD, přesto snížila výhled tržeb na celý rok.
Deckers Outdoor Corp. NYSE: DECK delivered a mixed second-quarter earnings report for its fiscal year 2027 (FY2027) on Oct. 22. Earnings beat expectations. Revenue of $1.48 billion fell just short of estimates of $1.51 billion. Management also cut its full-year sales outlook for its HOKA and UGG brands.
Deckers Outdoor Today
$80.49 -0.60 (-0.74%)
As of 10/26/2026 03:59 PM Eastern
This is a fair market value price provided by Massive. Learn more.
$77.20▼
$122.2910.67
$105.81
Investors reacted decisively. DECK stock fell 5% on Oct. 23 to close at $81.01. That left shares just above their September low.
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But the headline reaction missed a bigger point. The sell-off didn't start with this report. DECK lost roughly 30% between late July and mid-September. Investors were pricing in slower growth long before management confirmed it. That changes how to read the guidance cut. Bad news the market already expected is not really new information. And there is a reasonable case that Deckers set its new outlook low on purpose.
The perception is that Deckers is a growth story in decline. The fundamentals show a company that is still growing, still expanding margins, and buying back stock at a rapid pace.
Deckers has a long record of guiding cautiously and then beating. If that pattern holds, DECK is set up to clear a low bar rather than chase a high one.
The Damage Was Done Before the ReportDECK traded near $110 after its first-quarter report in late July. By mid-September, shares had dropped below $80. That decline came without any new guidance from the company.
The stock then bounced toward $88 heading into earnings. Friday's drop erased that rally, but it did not break new ground. Shares dipped to $78.12 during the session and still held above the September low.
There is technical work left to do. DECK trades below its 50-day moving average of $83.59. It also sits well below its 200-day average of $99.81, which continues to trend lower. Reclaiming the 50-day would be the first sign of repair.
Still, the price action matters. A stock that holds its lows after a guidance cut often signals that sellers are running out of steam.
The Quarter Was Better Than the HeadlineRevenue rose 3.5% to a record $1.48 billion. HOKA sales climbed 6.8% to $677.2 million. UGG grew 3.5% to $786.4 million. Both flagship brands are still growing.
The revenue shortfall was modest. Analysts expected about $1.51 billion. Management tied roughly $22 million of the gap to shipping delays from a European logistics transition. That points to more of a timing issue, not a demand collapse.
Margins were the real highlight. Gross margin jumped to 60.5% from 56.2%. Tariff refunds supplied about 310 basis points of that gain. The rest, about 120 basis points, came from selling more products at full price instead of chasing discounts.
Earnings per share (EPS) came in at $2.31. Excluding the refund benefit, adjusted EPS was about $2.03. That still beat the consensus estimate of $1.79 and grew 11.5% from a year ago.
A Low Bar, Set on PurposeNow look at the new outlook. Deckers expects fiscal 2027 sales of $5.700 billion to $5.725 billion. The prior range was $5.86 billion to $5.91 billion. HOKA growth is now expected in the high single digits. UGG is expected to grow in the low single digits.
Full-year EPS guidance rose to $7.80 to $7.95. But that includes about 52 cents from tariff refunds. Without them, the range is roughly $7.28 to $7.43. That is slightly below the prior outlook.
On paper, that looks like a downgrade. But consider the track record. Deckers has beaten EPS estimates in each of its last five quarters, usually by double-digit percentages. A company that keeps beating is guiding with room to spare.
Management also has every incentive to stay cautious. In a weak consumer market, missing a raised forecast costs far more than beating a lowered one.
There is a hidden upside, too. The outlook includes only the tariff refunds received through Oct. 8. Any further refunds that would add to the results are not yet reflected in the guidance.
Buying Back Stock at a DiscountDeckers is putting its cash to work. It repurchased $637.5 million of stock in the first half of fiscal 2027, at an average price of $98.77. The company carries no debt.
About $4.4 billion remains on the buyback authorization. At today's price, that equals roughly 40% of the company's market value. The current outlook assumes $1 billion in repurchases this year.
Valuation adds to the case. At $81, DECK trades near 11 times the midpoint of its full-year EPS guidance, excluding tariff refunds. That is a low multiple for a debt-free company with operating margins above 20% and two growing global brands.
The Risks Are Real; So Is the Balance SheetThe bear case is real. Direct-to-consumer comparable sales fell 6.4%. Domestic sales slipped 0.4%. HOKA's growth rate keeps slowing, and that remains the stock's biggest long-term question.
There is also a caveat to the lowball thesis. Second-quarter revenue came in below management's own internal expectations, not just Wall Street's. Conservative guidance only works if the company can hit it.
Current Price$80.49High Forecast$184.00Average Forecast$105.81Low Forecast$70.00Deckers Outdoor Stock Forecast Details
The Deckers analyst forecasts on MarketBeat continue to shift to a bearish stance. The consensus rating of 26 analysts is Hold, with 11 Holds and four Sell ratings.
Even so, the balance of risk has shifted. The sell-off began months before this report.
The guidance cut confirms what the stock had already priced in. And the new bar looks low enough to clear.
For patient investors, that gap between perception and the company's fundamentals is the opportunity.
The perception is a fading growth story. The fundamentals show a profitable, debt-free company buying back its own shares at a discount.
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Gibbs Wealth Management purchased a new position in shares of Globus Medical, Inc. (NYSE:GMED – Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 7,829 shares of the medical device company’s stock, valued at approximately $586,000.
A number of other large investors also recently modified their holdings of the business. Paradigm Capital Management Inc. NY bought a new position in shares of Globus Medical in the 2nd quarter valued at about $70,042,000. American Capital Management Inc. bought a new stake in Globus Medical during the second quarter worth about $51,599,000. Hawk Ridge Capital Management LP bought a new stake in Globus Medical during the first quarter worth about $43,078,000. Arrowstreet Capital Limited Partnership raised its holdings in Globus Medical by 107.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 912,905 shares of the medical device company’s stock worth $78,656,000 after acquiring an additional 471,875 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its position in Globus Medical by 4.5% during the first quarter. Janus Henderson Group PLC now owns 7,623,095 shares of the medical device company’s stock valued at $656,831,000 after purchasing an additional 328,217 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.
Globus Medical Stock Performance Shares of GMED stock opened at $81.89 on Tuesday. The firm’s 50-day moving average is $78.18 and its 200-day moving average is $83.80. The stock has a market cap of $10.99 billion, a price-to-earnings ratio of 20.94, a PEG ratio of 1.31 and a beta of 0.96. Globus Medical, Inc. has a 52-week low of $59.51 and a 52-week high of $101.40.
Globus Medical (NYSE:GMED – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The medical device company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.24. The business had revenue of $789.61 million during the quarter, compared to analysts’ expectations of $782.88 million. Globus Medical had a return on equity of 14.57% and a net margin of 17.02%. Globus Medical’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the company posted $0.86 earnings per share. Globus Medical has set its FY 2026 guidance at 4.950-5.050 EPS. Sell-side analysts predict that Globus Medical, Inc. will post 4.99 EPS for the current fiscal year. Insider Activity at Globus Medical In other news, Director James Tobin sold 30,000 shares of Globus Medical stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $74.58, for a total transaction of $2,237,400.00. Following the completion of the transaction, the director directly owned 15,000 shares in the company, valued at approximately $1,118,700. The trade was a 66.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Stephen T. Zarrilli sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $87.04, for a total value of $2,176,000.00. Following the transaction, the director directly owned 25,000 shares in the company, valued at $2,176,000. The trade was a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 18.38% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In A number of research firms have weighed in on GMED. Royal Bank Of Canada decreased their price target on Globus Medical from $115.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, October 1st. Wells Fargo & Company lowered their price target on Globus Medical from $103.00 to $99.00 and set an “overweight” rating on the stock in a research report on Friday, August 7th. Truist Financial dropped their price objective on Globus Medical from $115.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, July 16th. BMO Capital Markets initiated coverage on Globus Medical in a report on Wednesday, July 8th. They issued an “outperform” rating and a $94.00 price objective for the company. Finally, UBS Group assumed coverage on shares of Globus Medical in a research note on Tuesday, July 28th. They issued a “neutral” rating and a $82.00 target price for the company. Three equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Globus Medical currently has a consensus rating of “Moderate Buy” and an average price target of $99.46.
View Our Latest Report on GMED
About Globus Medical (Free Report)
Globus Medical, Inc develops and commercializes musculoskeletal solutions for surgeons, hospitals and patients. The company focuses primarily on spinal, orthopedic trauma and other orthopedic procedures, offering implants, instruments and related technologies designed to support surgical treatment and improve clinical outcomes.
Its product portfolio includes spinal implants and enabling technologies, including the ExcelsiusGPS robotic navigation platform and Excelsius3D imaging system.
Read More Five stocks we like better than Globus Medical Comfort Systems Earnings: AI Slowdown or More Growth Ahead? Bristol Myers Squibb’s Cancer Breakthrough Could Have Implications Beyond Its Own Stock 5 Beaten-Down Growth Stocks Trading Like Value Plays as Cash Chases Mega-Caps Anthropic’s IPO Filing Reveals a Massive Opportunity for AI Infrastructure Giants Want to see what other hedge funds are holding GMED? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Globus Medical, Inc. (NYSE:GMED – Free Report).
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Group 1 Automotive, Inc. (NYSE:GPI – Get Free Report) major shareholder Conifer Management, L.L.C. acquired 20,471 shares of the company’s stock in a transaction dated Monday, October 26th. The stock was bought at an average cost of $246.14 per share, for a total transaction of $5,038,731.94. Following the completion of the transaction, the insider directly owned 2,012,290 shares of the company’s stock, valued at approximately $495,305,060.60. This trade represents a 1.03% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Conifer Management, L.L.C. also recently made the following trade(s):
On Friday, October 23rd, Conifer Management, L.L.C. bought 34,529 shares of Group 1 Automotive stock. The stock was purchased at an average cost of $242.41 per share, for a total transaction of $8,370,174.89. On Thursday, October 22nd, Conifer Management, L.L.C. purchased 45,000 shares of Group 1 Automotive stock. The stock was bought at an average price of $240.52 per share, with a total value of $10,823,400.00. On Monday, September 28th, Conifer Management, L.L.C. bought 133,472 shares of Group 1 Automotive stock. The shares were bought at an average cost of $243.58 per share, for a total transaction of $32,511,109.76. On Wednesday, September 30th, Conifer Management, L.L.C. bought 71,592 shares of Group 1 Automotive stock. The stock was purchased at an average cost of $242.03 per share, for a total transaction of $17,327,411.76. On Tuesday, September 29th, Conifer Management, L.L.C. purchased 68,648 shares of Group 1 Automotive stock. The shares were purchased at an average cost of $239.48 per share, with a total value of $16,439,823.04. On Friday, September 25th, Conifer Management, L.L.C. bought 50,532 shares of Group 1 Automotive stock. The stock was acquired at an average cost of $252.06 per share, for a total transaction of $12,737,095.92. On Thursday, September 24th, Conifer Management, L.L.C. acquired 75,756 shares of Group 1 Automotive stock. The stock was acquired at an average cost of $248.00 per share, for a total transaction of $18,787,488.00. On Friday, September 18th, Conifer Management, L.L.C. purchased 37,650 shares of Group 1 Automotive stock. The stock was bought at an average price of $249.88 per share, for a total transaction of $9,407,982.00. On Thursday, September 17th, Conifer Management, L.L.C. bought 28,000 shares of Group 1 Automotive stock. The shares were bought at an average cost of $266.06 per share, for a total transaction of $7,449,680.00. On Thursday, September 10th, Conifer Management, L.L.C. bought 36,647 shares of Group 1 Automotive stock. The stock was purchased at an average cost of $280.86 per share, with a total value of $10,292,676.42. Group 1 Automotive Stock Performance Group 1 Automotive stock opened at $244.25 on Tuesday. The business has a 50 day moving average of $254.89 and a 200-day moving average of $310.29. Group 1 Automotive, Inc. has a 1 year low of $224.65 and a 1 year high of $429.00. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.02 and a quick ratio of 0.25. The company has a market capitalization of $2.91 billion, a P/E ratio of 10.17, a P/E/G ratio of 1.50 and a beta of 0.92.
Group 1 Automotive (NYSE:GPI – Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported $9.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.60 by ($0.99). The business had revenue of $5.39 billion for the quarter, compared to the consensus estimate of $5.66 billion. Group 1 Automotive had a net margin of 1.31% and a return on equity of 15.66%. Group 1 Automotive’s revenue was down 5.6% on a year-over-year basis. During the same period in the previous year, the business posted $10.82 EPS. On average, equities research analysts predict that Group 1 Automotive, Inc. will post 37.68 earnings per share for the current year. Group 1 Automotive Announces Dividend The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were given a dividend of $0.55 per share. The ex-dividend date was Tuesday, September 1st. This represents a $2.20 annualized dividend and a dividend yield of 0.9%. Group 1 Automotive’s dividend payout ratio is 9.16%.
Wall Street Analyst Weigh In Several brokerages have recently commented on GPI. Morgan Stanley downgraded shares of Group 1 Automotive from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $300.00 to $232.00 in a research report on Monday, October 5th. JPMorgan Chase & Co. reduced their price target on shares of Group 1 Automotive from $275.00 to $260.00 and set a “neutral” rating for the company in a research report on Tuesday, October 6th. UBS Group decreased their target price on shares of Group 1 Automotive from $330.00 to $271.00 and set a “neutral” rating for the company in a research report on Wednesday, October 7th. Evercore set a $360.00 price target on Group 1 Automotive in a research note on Tuesday, August 4th. Finally, Seaport Research Partners set a $420.00 price target on Group 1 Automotive in a research report on Monday, August 3rd. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $341.67.
Get Our Latest Stock Analysis on Group 1 Automotive
Institutional Investors Weigh In On Group 1 Automotive Several institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE bought a new stake in Group 1 Automotive during the second quarter valued at $24,206,000. Hsbc Holdings PLC bought a new stake in Group 1 Automotive in the 2nd quarter worth $5,134,000. Conifer Management L.L.C. bought a new stake in shares of Group 1 Automotive in the second quarter worth about $281,561,390. BlackRock Inc. bought a new stake in Group 1 Automotive in the second quarter valued at $593,420,000. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Group 1 Automotive by 51.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 78,794 shares of the company’s stock worth $26,064,000 after purchasing an additional 26,822 shares during the period. Hedge funds and other institutional investors own 99.92% of the company’s stock.
Group 1 Automotive Company Profile (Get Free Report)
Group 1 Automotive, Inc is an international automotive retailer headquartered in Houston, Texas. The company operates dealerships that sell new and used automobiles and light trucks from a broad range of manufacturers.
In addition to vehicle sales, Group 1 Automotive provides automotive financing and insurance products, vehicle maintenance and repair, collision services, replacement parts, and other related services. Its dealerships also market vehicles through digital retailing platforms.
Founded in 1997, Group 1 Automotive serves customers through a network of dealerships and automotive service locations in the United States, the United Kingdom, and Brazil.
See Also Five stocks we like better than Group 1 Automotive Comfort Systems Earnings: AI Slowdown or More Growth Ahead? Bristol Myers Squibb’s Cancer Breakthrough Could Have Implications Beyond Its Own Stock 5 Beaten-Down Growth Stocks Trading Like Value Plays as Cash Chases Mega-Caps Anthropic’s IPO Filing Reveals a Massive Opportunity for AI Infrastructure Giants
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Conifer Management navýšila svůj podíl ve společnosti Group 1 Automotive nákupem 34 529 akcií za průměrnou cenu 242,41 USD za akcii, čímž její držba vzrostla o 1,76 % na 1 991 819 akcií.
Group 1 Automotive, Inc. (NYSE:GPI – Get Free Report) major shareholder Conifer Management, L.L.C. purchased 34,529 shares of the firm’s stock in a transaction that occurred on Friday, October 23rd. The shares were acquired at an average cost of $242.41 per share, with a total value of $8,370,174.89. Following the completion of the transaction, the insider owned 1,991,819 shares in the company, valued at $482,836,843.79. This trade represents a 1.76% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
Conifer Management, L.L.C. also recently made the following trade(s):
On Monday, October 26th, Conifer Management, L.L.C. purchased 20,471 shares of Group 1 Automotive stock. The shares were bought at an average cost of $246.14 per share, for a total transaction of $5,038,731.94. On Thursday, October 22nd, Conifer Management, L.L.C. acquired 45,000 shares of Group 1 Automotive stock. The stock was purchased at an average price of $240.52 per share, for a total transaction of $10,823,400.00. On Monday, September 28th, Conifer Management, L.L.C. purchased 133,472 shares of Group 1 Automotive stock. The stock was acquired at an average price of $243.58 per share, for a total transaction of $32,511,109.76. On Wednesday, September 30th, Conifer Management, L.L.C. acquired 71,592 shares of Group 1 Automotive stock. The shares were acquired at an average price of $242.03 per share, with a total value of $17,327,411.76. On Tuesday, September 29th, Conifer Management, L.L.C. purchased 68,648 shares of Group 1 Automotive stock. The stock was bought at an average price of $239.48 per share, with a total value of $16,439,823.04. On Friday, September 25th, Conifer Management, L.L.C. acquired 50,532 shares of Group 1 Automotive stock. The shares were purchased at an average price of $252.06 per share, for a total transaction of $12,737,095.92. On Thursday, September 24th, Conifer Management, L.L.C. acquired 75,756 shares of Group 1 Automotive stock. The shares were purchased at an average price of $248.00 per share, for a total transaction of $18,787,488.00. On Friday, September 18th, Conifer Management, L.L.C. acquired 37,650 shares of Group 1 Automotive stock. The shares were acquired at an average cost of $249.88 per share, with a total value of $9,407,982.00. On Thursday, September 17th, Conifer Management, L.L.C. bought 28,000 shares of Group 1 Automotive stock. The shares were bought at an average cost of $266.06 per share, with a total value of $7,449,680.00. On Thursday, September 10th, Conifer Management, L.L.C. purchased 36,647 shares of Group 1 Automotive stock. The stock was bought at an average cost of $280.86 per share, for a total transaction of $10,292,676.42. Group 1 Automotive Price Performance Shares of NYSE GPI opened at $244.25 on Tuesday. The firm has a market capitalization of $2.91 billion, a PE ratio of 10.17, a P/E/G ratio of 1.50 and a beta of 0.92. The business’s fifty day moving average price is $254.89 and its two-hundred day moving average price is $310.29. Group 1 Automotive, Inc. has a 1-year low of $224.65 and a 1-year high of $429.00. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.02 and a quick ratio of 0.25.
Group 1 Automotive (NYSE:GPI – Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $9.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $10.60 by ($0.99). The business had revenue of $5.39 billion during the quarter, compared to the consensus estimate of $5.66 billion. Group 1 Automotive had a return on equity of 15.66% and a net margin of 1.31%. The business’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period last year, the company earned $10.82 earnings per share. On average, research analysts expect that Group 1 Automotive, Inc. will post 37.68 EPS for the current year. Group 1 Automotive Announces Dividend The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were given a dividend of $0.55 per share. The ex-dividend date was Tuesday, September 1st. This represents a $2.20 annualized dividend and a dividend yield of 0.9%. Group 1 Automotive’s dividend payout ratio (DPR) is 9.16%.
Institutional Trading of Group 1 Automotive Several large investors have recently made changes to their positions in the business. Corient Private Wealth LP raised its stake in Group 1 Automotive by 6.2% in the 2nd quarter. Corient Private Wealth LP now owns 702 shares of the company’s stock valued at $204,000 after purchasing an additional 41 shares during the last quarter. Bessemer Group Inc. boosted its position in shares of Group 1 Automotive by 0.9% during the 1st quarter. Bessemer Group Inc. now owns 7,734 shares of the company’s stock valued at $2,556,000 after acquiring an additional 70 shares during the last quarter. Anchor Investment Management LLC lifted its holdings in Group 1 Automotive by 112.0% in the second quarter. Anchor Investment Management LLC now owns 212 shares of the company’s stock valued at $62,000 after acquiring an additional 112 shares during the last quarter. Sage Rhino Capital LLC raised its position in Group 1 Automotive by 24.0% in the first quarter. Sage Rhino Capital LLC now owns 652 shares of the company’s stock valued at $216,000 after purchasing an additional 126 shares during the period. Finally, Pictet Asset Management Holding SA increased its position in shares of Group 1 Automotive by 6.6% during the 1st quarter. Pictet Asset Management Holding SA now owns 2,055 shares of the company’s stock worth $679,000 after purchasing an additional 128 shares during the last quarter. Institutional investors own 99.92% of the company’s stock.
Analyst Ratings Changes Several equities research analysts have recently weighed in on GPI shares. Evercore set a $360.00 price objective on Group 1 Automotive in a research note on Tuesday, August 4th. KeyCorp set a $425.00 price objective on Group 1 Automotive in a research report on Wednesday, October 7th. Zacks Research lowered Group 1 Automotive from a “hold” rating to a “strong sell” rating in a report on Monday, August 10th. Morgan Stanley downgraded shares of Group 1 Automotive from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $300.00 to $232.00 in a report on Monday, October 5th. Finally, Weiss Ratings downgraded shares of Group 1 Automotive from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, August 17th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $341.67.
Read Our Latest Stock Analysis on GPI
(Get Free Report)
Group 1 Automotive, Inc is an international automotive retailer headquartered in Houston, Texas. The company operates dealerships that sell new and used automobiles and light trucks from a broad range of manufacturers.
In addition to vehicle sales, Group 1 Automotive provides automotive financing and insurance products, vehicle maintenance and repair, collision services, replacement parts, and other related services. Its dealerships also market vehicles through digital retailing platforms.
Founded in 1997, Group 1 Automotive serves customers through a network of dealerships and automotive service locations in the United States, the United Kingdom, and Brazil.
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Hlavní akcionář společnosti Group 1 Automotive, Conifer Management, koupil 22. října 45 000 jejích akcií za 10,82 mil. USD, čímž zvýšil svůj podíl o 2,35 %.
Group 1 Automotive, Inc. (NYSE:GPI – Get Free Report) major shareholder Conifer Management, L.L.C. purchased 45,000 shares of the firm’s stock in a transaction on Thursday, October 22nd. The shares were purchased at an average cost of $240.52 per share, with a total value of $10,823,400.00. Following the completion of the transaction, the insider owned 1,957,290 shares of the company’s stock, valued at approximately $470,767,390.80. The trade was a 2.35% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Conifer Management, L.L.C. also recently made the following trade(s):
On Monday, October 26th, Conifer Management, L.L.C. purchased 20,471 shares of Group 1 Automotive stock. The shares were acquired at an average price of $246.14 per share, for a total transaction of $5,038,731.94. On Friday, October 23rd, Conifer Management, L.L.C. bought 34,529 shares of Group 1 Automotive stock. The shares were bought at an average cost of $242.41 per share, for a total transaction of $8,370,174.89. On Monday, September 28th, Conifer Management, L.L.C. bought 133,472 shares of Group 1 Automotive stock. The stock was purchased at an average price of $243.58 per share, with a total value of $32,511,109.76. On Wednesday, September 30th, Conifer Management, L.L.C. purchased 71,592 shares of Group 1 Automotive stock. The shares were acquired at an average cost of $242.03 per share, with a total value of $17,327,411.76. On Tuesday, September 29th, Conifer Management, L.L.C. acquired 68,648 shares of Group 1 Automotive stock. The shares were bought at an average price of $239.48 per share, with a total value of $16,439,823.04. On Friday, September 25th, Conifer Management, L.L.C. acquired 50,532 shares of Group 1 Automotive stock. The stock was bought at an average price of $252.06 per share, for a total transaction of $12,737,095.92. On Thursday, September 24th, Conifer Management, L.L.C. purchased 75,756 shares of Group 1 Automotive stock. The shares were purchased at an average price of $248.00 per share, for a total transaction of $18,787,488.00. On Friday, September 18th, Conifer Management, L.L.C. bought 37,650 shares of Group 1 Automotive stock. The shares were acquired at an average price of $249.88 per share, for a total transaction of $9,407,982.00. On Thursday, September 17th, Conifer Management, L.L.C. acquired 28,000 shares of Group 1 Automotive stock. The stock was acquired at an average price of $266.06 per share, with a total value of $7,449,680.00. On Thursday, September 10th, Conifer Management, L.L.C. acquired 36,647 shares of Group 1 Automotive stock. The shares were bought at an average price of $280.86 per share, with a total value of $10,292,676.42. Group 1 Automotive Trading Down 0.3% Shares of Group 1 Automotive stock opened at $244.25 on Tuesday. The firm’s 50-day moving average price is $254.89 and its 200 day moving average price is $310.29. Group 1 Automotive, Inc. has a twelve month low of $224.65 and a twelve month high of $429.00. The firm has a market capitalization of $2.91 billion, a PE ratio of 10.17, a P/E/G ratio of 1.50 and a beta of 0.92. The company has a current ratio of 1.02, a quick ratio of 0.25 and a debt-to-equity ratio of 1.03.
Group 1 Automotive (NYSE:GPI – Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported $9.61 EPS for the quarter, missing the consensus estimate of $10.60 by ($0.99). Group 1 Automotive had a net margin of 1.31% and a return on equity of 15.66%. The firm had revenue of $5.39 billion during the quarter, compared to analyst estimates of $5.66 billion. During the same period in the prior year, the company posted $10.82 earnings per share. The firm’s revenue for the quarter was down 5.6% compared to the same quarter last year. On average, sell-side analysts predict that Group 1 Automotive, Inc. will post 37.68 EPS for the current fiscal year. Group 1 Automotive Announces Dividend The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were given a $0.55 dividend. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $2.20 dividend on an annualized basis and a yield of 0.9%. Group 1 Automotive’s payout ratio is presently 9.16%.
Institutional Trading of Group 1 Automotive Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE bought a new position in shares of Group 1 Automotive during the second quarter worth about $24,206,000. Hsbc Holdings PLC bought a new stake in Group 1 Automotive during the second quarter valued at $5,134,000. Conifer Management L.L.C. acquired a new stake in shares of Group 1 Automotive during the second quarter worth $281,561,390. BlackRock Inc. bought a new position in Group 1 Automotive in the second quarter worth about $593,420,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Group 1 Automotive by 51.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 78,794 shares of the company’s stock valued at $26,064,000 after purchasing an additional 26,822 shares during the last quarter. Institutional investors own 99.92% of the company’s stock.
Wall Street Analyst Weigh In Several research firms have recently issued reports on GPI. DA Davidson set a $425.00 price objective on shares of Group 1 Automotive in a research report on Friday, July 10th. UBS Group decreased their price target on Group 1 Automotive from $330.00 to $271.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 7th. KeyCorp set a $425.00 price objective on shares of Group 1 Automotive in a report on Wednesday, October 7th. Zacks Research downgraded Group 1 Automotive from a “hold” rating to a “strong sell” rating in a research report on Monday, August 10th. Finally, Barclays cut their price objective on shares of Group 1 Automotive from $365.00 to $320.00 and set an “overweight” rating for the company in a research report on Tuesday, October 6th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $341.67.
View Our Latest Stock Analysis on Group 1 Automotive
(Get Free Report)
Group 1 Automotive, Inc is an international automotive retailer headquartered in Houston, Texas. The company operates dealerships that sell new and used automobiles and light trucks from a broad range of manufacturers.
In addition to vehicle sales, Group 1 Automotive provides automotive financing and insurance products, vehicle maintenance and repair, collision services, replacement parts, and other related services. Its dealerships also market vehicles through digital retailing platforms.
Founded in 1997, Group 1 Automotive serves customers through a network of dealerships and automotive service locations in the United States, the United Kingdom, and Brazil.
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WILMINGTON, Del., Oct. 27, 2026 (GLOBE NEWSWIRE) -- Ashland Inc. (NYSE: ASH) today announced plans to issue its fourth-quarter fiscal 2026 earnings release at approximately 5 p.m. ET on Tuesday, November 3, 2026. The company’s live webcast with securities analysts will include an executive summary and detailed remarks. The live webcast will take place at 9 a.m. ET on Wednesday, November 4. Simultaneously, the company will post a slide presentation in the Investor Relations section of its website at http://investor.ashland.com.
Among those participating in the webcast presentation will be:
Guillermo Novo, chair, and chief executive officerWilliam Whitaker, senior vice president, and chief financial officerDago Caceres, senior vice president, general manager, specialty additivesAlessandra Faccin, senior vice president, general manager, life sciences and intermediatesJim Minicucci, senior vice president, general manager, personal careSandy Klugman, director, investor relations To access the call by phone, please go to this registration link and you will be provided with dial in details. To avoid delays, we encourage participants to dial into the conference call fifteen minutes ahead of the scheduled start time.
The webcast and supporting materials will be accessible through the Investor Relations section of Ashland's website at http://investor.ashland.com. Following the live event, an archived version of the webcast and supporting materials will be available on the Ashland website for 12 months.
About Ashland
Ashland Inc. (NYSE: ASH) is a global additives and specialty ingredients company with a conscious and proactive mindset for environmental, social and governance (ESG). The company serves customers in a wide range of consumer and industrial markets, including architectural coatings, construction, energy, food and beverage, personal care and pharmaceutical. Approximately 2,900 passionate, tenacious solvers – from renowned scientists and research chemists to talented engineers and plant operators – thrive on developing practical, innovative and elegant solutions to complex problems for customers in more than 100 countries. Visit ashland.com and ashland.com/ESG to learn more.
™ Trademark, Ashland, or its subsidiaries, registered in various countries.
Johnson Controls ve 4. čtvrtletí meziročně zvýšil tržby o 10 % na 7,1 mld. USD a zisk na akcii (EPS) dosáhl 1,60 USD. Pro fiskální rok 2027 očekává organický růst tržeb o 11–12 %.
Q4 sales increased 10% and organic sales increased 12%*Q4 GAAP EPS of $1.60; Q4 Adjusted EPS* of $1.66*Q4 orders +44% organically year-over-yearBacklog of $23.0 billion increased 43% organically year-over-year* This earnings release contains non-GAAP financial measures. Definitions and reconciliations of the non-GAAP financial measures can be found in the attached footnotes. Non-GAAP measures should be considered in addition to, and not as replacements for, the most comparable GAAP measures.
, /PRNewswire/ -- Johnson Controls International plc (NYSE: JCI), a global leader in thermal management, mission-critical building systems, energy efficiency, and decarbonization, is proud to announce fiscal fourth quarter 2026 GAAP earnings per share ("EPS") of $1.60. Adjusted EPS was $1.66.
Q4 sales increased 10% to $7.1 billion and organic sales increased 12%.
For the quarter, GAAP net income from continuing operations attributable to JCI was $967 million and adjusted net income from continuing operations was $1.0 billion. Cash provided by operating activities was $1.3 billion. Free cash flow was $1.1 billion and adjusted free cash flow was $1.1 billion.
"We finished fiscal 2026 with significant momentum, delivering more than 8% organic revenue growth, double-digit adjusted EPS growth and strong free cash flow conversion," said Joakim Weidemanis, Chief Executive Officer of Johnson Controls. "Our strong topline growth, combined with continued productivity and simplification improvements, led to margin expansion across all three segments. That performance reflects the strength of our differentiated technological capabilities, unmatched field presence and proprietary business system, which help us move with speed, win with customers and strengthen performance. With record backlog and sustained customer demand, we enter fiscal 2027 with confidence in our ability to continue creating value for customers and shareholders."
FISCAL Q4 SEGMENT RESULTS
The financial highlights presented in the tables below exclude discontinued operations and are in accordance with GAAP, unless otherwise indicated. All comparisons are to the fourth quarter of fiscal 2025. Orders and backlog metrics included in the release relate to the Company's Solutions and Services based businesses. Orders prior to Q1 2026 exclude certain equipment-only sales for longer cycle projects. Backlog has been restated to include this new category.
A slide presentation to accompany the results can be found in the Investor Relations section of Johnson Controls' website at http://investors.johnsoncontrols.com.
Americas
Fiscal Q4
(in millions)
2026
2025
Change
Sales
$ 4,930
$ 4,325
14 %
Segment EBIT
992
763
30 %
Segment EBIT Margin %
20.1 %
17.6 %
250 bp
Segment EBITA (non-GAAP)
1,069
844
27 %
Adjusted Segment EBITA (non-GAAP)
1,086
862
26 %
Adjusted Segment EBITA Margin % (non-GAAP)
22.0 %
19.9 %
210 bp
Sales in the quarter of $4.9 billion increased 14% over the prior year. Organic sales also increased 14% led by continued strength in both Applied HVAC & Controls. Products and Systems sales increased 16% and Services increased 10% organically.
Excluding acquisitions and divestitures and adjusted for foreign currency, orders increased 58% year-over-year and backlog of $17.8 billion increased 54% year-over-year. The increase in orders and backlog was supported by sustained demand for data centers and our differentiated technology and capabilities.
Segment EBIT margin increased 250 bp and adjusted Segment EBITA margin increased 210 bp compared to the prior year. The increases were primarily driven by strong operating leverage on higher revenue and favorable business mix. Adjusted Segment EBITA in both Q4 2026 and Q4 2025 excludes transformation costs.
EMEA (Europe, Middle East, Africa)
Fiscal Q4
(in millions)
2026
2025
Change
Sales
$ 1,312
$ 1,337
(2 %)
Segment EBIT
198
188
5 %
Segment EBIT Margin %
15.1 %
14.1 %
100 bps
Segment EBITA (non-GAAP)
205
201
2 %
Adjusted Segment EBITA (non-GAAP)
215
208
3 %
Adjusted Segment EBITA Margin % (non-GAAP)
16.4 %
15.6 %
80 bps
Sales in the quarter of $1.3 billion decreased 2% over the prior year. Organic sales grew 3% versus the prior year, with continued pressure in the region due to the conflicts in the Middle East. Products and Systems sales remained flat and Services increased 6% organically.
Excluding acquisitions and divestitures and adjusted for foreign currency, orders increased 12% year-over-year and backlog of $3.1 billion increased 18% year-over-year.
Segment EBIT margin increased 100 bps and adjusted Segment EBITA margin increased 80 bps compared to the prior year. The increases were primarily driven by favorable pricing and productivity improvements, partially offset by the impact of business divestitures. Adjusted Segment EBITA in both Q4 2026 and Q4 2025 excludes transformation costs.
APAC (Asia Pacific)
Fiscal Q4
(in millions)
2026
2025
Change
Sales
$ 871
$ 780
12 %
Segment EBIT
162
136
19 %
Segment EBIT Margin %
18.6 %
17.4 %
120 bp
Segment EBITA (non-GAAP)
165
139
19 %
Adjusted Segment EBITA (non-GAAP)
165
139
19 %
Adjusted Segment EBITA Margin % (non-GAAP)
18.9 %
17.8 %
110 bp
Sales in the quarter of $871 million increased 12% versus the prior year. Organic sales increased 13% versus the prior year, led by 15% growth in Product and Systems and continued strength in Applied HVAC.
Excluding acquisitions and divestitures and adjusted for foreign currency, orders increased 11% and backlog of $2.1 billion increased 12% year-over-year.
Segment EBIT margin increased 120 bps and adjusted Segment EBITA margin increased 110 bps compared to the prior year, primarily driven by productivity improvements and higher revenues.
Corporate
Fiscal Q4
(in millions)
2026
2025
Change
Corporate Expense
GAAP
$ 178
$ 269
(34 %)
Adjusted (non-GAAP)
80
124
(35 %)
Adjusted Corporate expense in both Q4 2026 and Q4 2025 excludes certain transaction/separation costs and transformation costs. In addition, Q4 2025 excludes accelerated depreciation of ERP assets. The decrease year-over-year is primarily due to ongoing cost reduction actions across corporate functions and the timing of certain corporate expenses.
OTHER Q4 ITEMS
The Company paid dividends of $242 million.GUIDANCE
The following forward-looking statements are non-GAAP financial measures. These non-GAAP financial measures are derived by excluding certain amounts from the corresponding financial measures determined in accordance with GAAP. The determination of the amounts excluded is a matter of management judgment and depends upon, among other factors, the nature of the underlying expense or income amounts recognized in a given period and the high variability of certain amounts, such as mark-to-market adjustments. Organic revenue growth excludes the effect of acquisitions, divestitures and foreign currency. The Company is unable to present a quantitative reconciliation of the aforementioned forward-looking non-GAAP financial measures to its most directly comparable forward-looking GAAP financial measures because such information is not available, and management cannot reliably predict the necessary components of such GAAP measures without unreasonable effort or expense. The unavailable information could have a significant impact on the Company's fiscal 2027 first quarter and full year GAAP financial results.
The Company initiated fiscal 2027 first quarter continuing operations guidance:
Organic sales growth of 12% to 14%Operating leverage of 30% to 35%Adjusted EPS of $1.15 to $1.20The Company initiated fiscal 2027 full year continuing operations guidance:
Organic sales growth of 11% to 12%Operating leverage of 30%+Adjusted EPS of $6.15 to $6.30Adjusted free cash flow conversion of ~95%CONFERENCE CALL & WEBCAST INFO
Johnson Controls will host a conference call to discuss this quarter's results at 8:30 a.m. ET today, which can be accessed via webcast at https://johnson-controls-q4-2026-earnings.open-exchange.net. A slide presentation will accompany the prepared remarks and has been posted on the investor relations section of the Johnson Controls website at https://investors.johnsoncontrols.com/news-and-events/events-and-presentations. A replay will be made available approximately two hours following the conclusion of the conference call.
ABOUT JOHNSON CONTROLS
Johnson Controls, a global leader in thermal management, mission-critical building systems, energy efficiency, and decarbonization, helps customers use energy more productively, reduce carbon emissions, and operate with the precision and resilience required in rapidly expanding industries such as data centers, healthcare, pharmaceuticals, advanced manufacturing, and higher education.
For more than 140 years, Johnson Controls has delivered performance where it really matters. Backed by advanced technology, lifecycle services and an industry-leading field organization, we elevate customer performance, turn goals into real-world results and help move society forward.
Visit johnsoncontrols.com for more information and follow @Johnson Controls on social platforms.
JOHNSON CONTROLS CONTACTS:
INVESTOR CONTACTS:
MEDIA CONTACT:
Eric Swanson
Danielle Canzanella
Email: [email protected]
Email: [email protected]
Michael Gates
Email: [email protected]
JOHNSON CONTROLS INTERNATIONAL PLC CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
Johnson Controls International plc (the "Company") has made statements in this document that are forward-looking and therefore are subject to risks and uncertainties. All statements in this document other than statements of historical fact are, or could be, "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. In this document, statements regarding the Company's future financial position, sales, costs, earnings, cash flows, other measures of results of operations, synergies and integration opportunities, capital expenditures, debt levels and market outlook are forward-looking statements. Words such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe," "should," "forecast," "project" or "plan" and terms of similar meaning are also generally intended to identify forward-looking statements. However, the absence of these words does not mean that a statement is not forward-looking. The Company cautions that these statements are subject to numerous important risks, uncertainties, assumptions and other factors, some of which are beyond the Company's control, that could cause the Company's actual results to differ materially from those expressed or implied by such forward-looking statements, including, among others, risks related to: the ability to develop or acquire new, competitively differentiated products and technologies that achieve market acceptance and meet applicable quality and regulatory requirements; the ability to manage general economic, business and capital market conditions, including the impacts of trade restrictions, recessions, economic downturns and global price inflation; the ability to manage macroeconomic and geopolitical volatility, including changes to laws or policies governing foreign trade, including tariffs, economic sanctions, foreign exchange and capital controls, import/export controls or other trade restrictions as well as any associated supply chain disruptions; fluctuations in demand in key verticals, including data centers and other mission-critical segments, as well as risks associated with customer concentration and the conversion of backlog to revenue; the ability to execute on the Company's business system and operating model to drive organizational improvement; the ability to innovate and adapt to emerging technologies, ideas and trends in the marketplace, including the incorporation of technologies such as artificial intelligence; fluctuations in the cost and availability of public and private financing for customers; the ability to manage disruptions caused by catastrophic or geopolitical events, such as international conflicts (including the Russia-Ukraine conflict and conflicts in the Middle East), armed conflict, terrorism, political change, natural disasters, extreme weather, pandemics and outbreaks of contagious diseases and other adverse public health developments; the ability to successfully execute and complete portfolio simplification actions, as well as the possibility that the expected benefits of such actions will not be realized or will not be realized within the expected time frame; managing the risks and impacts of potential and actual security breaches, cyberattacks, privacy breaches or data breaches, maintaining and improving the capacity, reliability and security of the Company's enterprise information technology infrastructure; the ability to manage the lifecycle cybersecurity risk in the development, deployment and operation of the Company's digital platforms and services; fluctuations in currency exchange rates; the ability to hire and retain senior management and other key personnel; changes or uncertainty in laws, regulations, rates, policies, or interpretations that impact business operations or tax status; the ability to adapt to global climate change, climate change regulation and successfully meet the Company's public sustainability commitments; the outcome of litigation and governmental proceedings; the risk of infringement or expiration of intellectual property rights; the ability to manage disruptions caused by catastrophic or geopolitical events, such as natural disasters, armed conflict, political change, climate change, pandemics and outbreaks of contagious diseases and other adverse public health developments; any delay or inability of the Company to realize the expected benefits and synergies of recent portfolio transactions; the tax treatment of recent portfolio transactions; significant transaction costs and/or unknown liabilities associated with such transactions; labor shortages, work stoppages, union negotiations, labor disputes and other matters associated with the labor force; and the cancellation of or changes to commercial arrangements. A detailed discussion of risks related to Johnson Controls' business is included in the section entitled "Risk Factors" (refer to Part I, Item 1A, of this Annual Report on Form 10-K). The forward-looking statements included in this document are made only as of the date of this document, unless otherwise specified, and, except as required by law, Johnson Controls assumes no obligation, and disclaims any obligation, to update such statements to reflect events or circumstances occurring after the date of this document.
FINANCIAL STATEMENTS
Johnson Controls International plc
Consolidated Statements of Income
(in millions, except per share data; unaudited)
Three Months Ended
September 30,
Twelve Months Ended
September 30,
2026
2025
2026
2025
Net sales
Products and systems
$ 5,014
$ 4,452
$ 17,701
$ 16,124
Services
2,099
1,990
7,965
7,472
7,113
6,442
25,666
23,596
Cost of sales
Products and systems
3,249
2,908
11,697
10,543
Services
1,159
1,183
4,454
4,461
4,408
4,091
16,151
15,004
Gross profit
2,705
2,351
9,515
8,592
Selling, general and administrative expenses
1,481
1,521
5,510
5,764
Restructuring and impairment costs
87
400
311
546
Net financing charges
82
76
279
319
Equity income
8
1
11
6
Income from continuing operations before income taxes
1,063
355
3,426
1,969
Income tax provision
93
85
536
245
Income from continuing operations
970
270
2,890
1,724
Income (loss) from discontinued operations, net of tax
—
1,488
(27)
1,789
Net income
970
1,758
2,863
3,513
Income attributable to noncontrolling interests
Continuing operations
3
3
10
3
Discontinued operations
—
62
—
219
Net income attributable to Johnson Controls
$ 967
$ 1,693
$ 2,853
$ 3,291
Income (loss) attributable to Johnson Controls
Continuing operations
$ 967
$ 267
$ 2,880
$ 1,721
Discontinued operations
—
1,426
(27)
1,570
Total
$ 967
$ 1,693
$ 2,853
$ 3,291
Basic earnings (loss) per share attributable to Johnson Controls
Continuing operations
$ 1.60
$ 0.42
$ 4.73
$ 2.64
Discontinued operations
—
2.26
(0.04)
2.40
Total
$ 1.60
$ 2.68
$ 4.69
$ 5.04
Diluted earnings (loss) per share attributable to Johnson Controls
Continuing operations
$ 1.60
$ 0.42
$ 4.72
$ 2.63
Discontinued operations
—
2.25
(0.04)
2.40
Total
$ 1.60
$ 2.67
$ 4.68
$ 5.03
Johnson Controls International plc
Condensed Consolidated Statements of Financial Position
(in millions; unaudited)
September 30, 2026
September 30, 2025
Assets
Cash and cash equivalents
$ 618
$ 379
Accounts receivable - net
7,316
6,269
Inventories
1,999
1,820
Current assets held for sale
4
14
Other current assets
1,741
1,680
Current assets
11,678
10,162
Property, plant and equipment - net
2,106
2,193
Goodwill
16,640
16,633
Other intangible assets - net
3,482
3,613
Noncurrent assets held for sale
231
140
Other noncurrent assets
6,065
5,198
Total assets
$ 40,202
$ 37,939
Liabilities and Equity
Short-term debt
$ 678
$ 723
Current portion of long-term debt
1,066
566
Accounts payable
4,381
3,614
Accrued compensation and benefits
1,198
1,268
Deferred revenue
3,370
2,470
Current liabilities held for sale
6
12
Other current liabilities
2,220
2,288
Current liabilities
12,919
10,941
Long-term debt
7,533
8,591
Pension and postretirement benefits
204
211
Noncurrent liabilities held for sale
34
9
Other noncurrent liabilities
5,866
5,233
Noncurrent liabilities
13,637
14,044
Shareholders' equity attributable to Johnson Controls
13,611
12,927
Noncontrolling interests
35
27
Total equity
13,646
12,954
Total liabilities and equity
$ 40,202
$ 37,939
Johnson Controls International plc
Consolidated Statements of Cash Flows
(in millions; unaudited)
Three Months Ended
September 30,
Twelve Months Ended
September 30,
2026
2025
2026
2025
Operating Activities of Continuing Operations
Income from continuing operations:
Attributable to Johnson Controls
$ 967
$ 267
$ 2,880
$ 1,721
Attributable to noncontrolling interests
3
3
10
3
Total
970
270
2,890
1,724
Adjustments to reconcile net income to cash provided by operating activities of
continuing operations:
Depreciation and amortization
159
280
654
865
Pension and postretirement benefits
(76)
11
(115)
(41)
Deferred income taxes
(740)
341
(798)
195
Non-cash restructuring and impairment charges
35
371
195
427
Equity-based compensation
29
33
124
140
Other - net
(3)
(36)
(87)
(28)
Changes in assets and liabilities:
Accounts receivable
(339)
(132)
(1,096)
(211)
Inventories
(44)
4
(210)
(75)
Other assets
(140)
(292)
(78)
(581)
Restructuring reserves
24
(1)
(1)
1
Accounts payable and accrued liabilities
951
663
1,715
694
Accrued income taxes
474
(544)
679
(556)
Cash provided by operating activities from continuing operations
1,300
968
3,872
2,554
Investing Activities of Continuing Operations
Capital expenditures
(222)
(130)
(465)
(434)
Acquisition of businesses, net of cash acquired
—
(1)
(291)
(10)
Divestitures of businesses, net of cash divested
—
3
331
5
Other - net
(11)
18
(43)
27
Cash used by investing activities from continuing operations
(233)
(110)
(468)
(412)
Financing Activities of Continuing Operations
Net proceeds from (repayments of) borrowings with maturities less than three
months
24
(245)
(170)
38
Proceeds from debt
—
396
545
1,765
Repayments of debt
(220)
(552)
(859)
(1,648)
Stock repurchases and retirements
(655)
(5,021)
(1,505)
(5,991)
Payment of cash dividends
(242)
(243)
(976)
(976)
Other - net
(9)
(8)
(83)
28
Cash used by financing activities from continuing operations
(1,102)
(5,673)
(3,048)
(6,784)
Discontinued Operations
Cash used by operating activities
—
(1,410)
(98)
(1,155)
Cash provided (used) by investing activities
—
6,598
(155)
6,546
Cash used by financing activities
—
(430)
—
(604)
Cash provided (used) by discontinued operations
—
4,758
(253)
4,787
Effect of exchange rate changes on cash, cash equivalents and restricted cash
7
(43)
129
(259)
Change in cash, cash equivalents and restricted cash held for sale
—
(258)
—
(255)
Increase (decrease) in cash, cash equivalents and restricted cash
(28)
(358)
232
(369)
Cash, cash equivalents and restricted cash at beginning of period
658
756
398
767
Cash, cash equivalents and restricted cash at end of period
630
398
630
398
Less: Restricted cash
12
19
12
19
Cash and cash equivalents at end of period
$ 618
$ 379
$ 618
$ 379
FOOTNOTES
1. Sale of Residential and Light Commercial HVAC Business
In July 2025, the Company sold its Residential and Light Commercial ("R&LC") HVAC business, including the North America Ducted business and the global Residential joint venture with Hitachi Global Life Solutions, Inc. ("Hitachi"), of which Johnson Controls owned 60% and Hitachi owned 40%. The R&LC HVAC business met the criteria to be classified as a discontinued operation and, as a result, its historical financial results are reflected in the consolidated financial statements as a discontinued operation.
2. Non-GAAP Measures
The Company reports various non-GAAP measures in this earnings release and the related earnings presentation. Non-GAAP measures should be considered in addition to, and not as replacements for, the most comparable GAAP measures. Refer to the following footnotes for further information on the calculations of the non-GAAP measures and reconciliations of the non-GAAP measures to the most comparable GAAP measures.
Organic sales
Organic sales growth excludes the impact of acquisitions, divestitures and foreign currency. Management believes organic sales growth is useful to investors in understanding period-over-period sales results and trends.
Cash flow
Management believes free cash flow and adjusted free cash flow measures are useful to investors in understanding the strength of the Company and its ability to generate cash. These non-GAAP measures can also be used to evaluate the Company's ability to generate cash flow from operations and the impact that this cash flow has on its liquidity. Management also believes adjusted free cash flows are useful to investors in understanding period-over-period cash flows, cash trends and ongoing cash flows of the Company.
Adjusted free cash flow and adjusted free cash flow conversion are non-GAAP measures which exclude the impacts of the following:
JC Capital cash flows primarily include activity associated with finance/notes receivables and inventory and/or capital expenditures related to lease arrangements. JC Capital net income is primarily related to interest income on the finance/notes receivable and profit recognized on arrangements with sales-type lease components.The impact of the accounts receivables factoring program which was discontinued in March 2024.Cash payments related to the water systems AFFF settlement and cash receipts for AFFF-related insurance recoveries.Prepayment of royalty fees associated with certain IP licensed to divested businesses.Discrete tax payments are non-recurring tax settlements for certain non-US jurisdictions.Adjusted financial measures
Adjusted financial measures are non-GAAP measures that are derived by excluding certain amounts from the corresponding financial measures determined in accordance with GAAP. The determination of the excluded amounts is a matter of management judgment and depends upon the nature and variability of the underlying expense or income amounts and other factors.
As detailed in the tables included in footnotes four through seven, the following items were excluded from certain financial measures:
Net mark-to-market adjustments are the result of adjusting restricted asbestos investments and pension and postretirement plan assets to their current market value. These adjustments may have a favorable or unfavorable impact on results. Restructuring and impairment costs represents restructuring costs attributable to Johnson Controls including costs associated with exit plans or other restructuring plans that will have a more significant impact on the underlying cost structure of the organization. Impairment costs primarily relate to write-downs of goodwill, intangible assets and assets held for sale to their fair value.Water systems AFFF settlement and insurance recoveries include amounts related to a settlement with a nationwide class of public water systems concerning the use of AFFF manufactured and sold by a subsidiary of the Company, and AFFF-related insurance recoveries. Transaction/separation costs include costs associated with significant mergers and acquisitions. Transformation costs represent incremental expenses incurred in association with strategic growth initiatives and cost saving opportunities in order to realize the benefits of portfolio simplification and the Company's lifecycle solutions strategy.ERP asset - accelerated depreciation represents a change in ERP strategy within the EMEA segment, which led to certain assets being abandoned and the useful lives reduced.Gain on divestiture relates to the sale of the ADT Mexico Security business. Discrete tax items, net includes the net impact of discrete tax items within the period, including the following types of items: changes in estimates associated with valuation allowances, changes in estimates associated with reserves for uncertain tax positions, withholding taxes recorded upon changes in indefinite re-investment assertions for businesses to be disposed of and impacts from statutory rate changes.Related tax impact includes the tax impact of the various excluded items.Management believes the exclusion of these items is useful to investors due to the unusual nature and/or magnitude of the amounts. When considered together with unadjusted amounts, adjusted financial measures are useful to investors in understanding period-over-period operating results, business trends and ongoing operations of the Company. Management may also use these metrics as guides in forecasting, budgeting and long-term planning processes and for compensation purposes.
Operating leverage
Operating leverage is defined as the change in adjusted EBIT for the period, divided by the corresponding change in net revenues. Management believes operating leverage is a useful metric to reflect enterprise value creation, capturing the impact of scale and cost discipline across the organization.
Debt ratios
Management believes that net debt to adjusted EBITDA, a non-GAAP measure, is useful to understanding the Company's financial condition as the ratio provides an overview of the extent to which the Company relies on external debt financing for its funding and also is a measure of risk to its shareholders.
3. Sales
The following tables detail the changes in sales from continuing operations attributable to organic growth, foreign currency, acquisitions, divestitures and other (unaudited):
The following table includes operating cash flow conversion, free cash flow and free cash flow conversion (unaudited):
Three Months Ended
September 30,
Twelve Months Ended
September 30,
(in millions)
2026
2025
2026
2025
Cash provided by operating activities from
continuing operations
$ 1,300
$ 968
$ 3,872
$ 2,554
Income from continuing operations attributable to
Johnson Controls
967
267
2,880
1,721
Operating cash flow conversion
134 %
363 %
134 %
148 %
Cash provided by operating activities from
continuing operations
$ 1,300
$ 968
$ 3,872
$ 2,554
Capital expenditures
(222)
(130)
(465)
(434)
Free cash flow (non-GAAP)
$ 1,078
$ 838
$ 3,407
$ 2,120
Income from continuing operations attributable to
Johnson Controls
$ 967
$ 267
$ 2,880
$ 1,721
Free cash flow conversion from net income (non-
GAAP)
111 %
314 %
118 %
123 %
The following table includes adjusted free cash flow and adjusted free cash flow conversion (unaudited):
Three Months Ended
September 30,
Twelve Months Ended
September 30,
(in millions)
2026
2025
2026
2025
Free cash flow (non-GAAP)
$ 1,078
$ 838
$ 3,407
$ 2,120
Adjustments:
JC Capital cash (provided) used by operating
activities
9
38
(24)
149
Water systems AFFF settlement cash
payments and insurance recoveries
9
3
(156)
386
IP license prepayments
—
(240)
(29)
(240)
Discrete tax payments
—
71
31
71
Impact of discontinued factoring program
—
—
—
15
Adjusted free cash flow (non-GAAP)
$ 1,096
$ 710
$ 3,229
$ 2,501
Adjusted net income attributable to JCI (non-
GAAP)
$ 1,008
$ 798
$ 3,153
$ 2,462
JC Capital net (income) loss
(28)
1
(6)
(3)
Adjusted net income attributable to JCI,
excluding JC Capital (non-GAAP)
$ 980
$ 799
$ 3,147
$ 2,459
Adjusted free cash flow conversion (non-GAAP)
112 %
89 %
103 %
102 %
5. EBIT, Segment Profitability and Corporate Expense
The following table reconciles income from continuing operations before income taxes to EBIT and adjusted EBIT (unaudited):
Three Months Ended
September 30,
Twelve Months Ended
September 30,
(in millions)
2026
2025
2026
2025
Income from continuing operations:
Attributable to Johnson Controls
$ 967
$ 267
$ 2,880
$ 1,721
Attributable to noncontrolling interests
3
3
10
3
Income from continuing operations
970
270
2,890
1,724
Less: Income tax provision (1)
93
85
536
245
Income before income taxes
1,063
355
3,426
1,969
Net financing charges
82
76
279
319
EBIT
$ 1,145
$ 431
$ 3,705
$ 2,288
EBIT margin
16.1 %
6.7 %
14.4 %
9.7 %
Adjusting items:
Net mark-to-market adjustments
57
(13)
73
(6)
Restructuring and impairment costs
(87)
(400)
(311)
(546)
Water systems AFFF insurance recoveries
1
26
149
39
Transaction/separation costs
(30)
(12)
(73)
(39)
Transformation costs
(95)
(56)
(292)
(180)
ERP asset - accelerated depreciation
—
(102)
—
(102)
Gain on divestiture
—
—
70
—
Adjusted EBIT (non-GAAP)
$ 1,299
$ 988
$ 4,089
$ 3,122
Adjusted EBIT margin (non-GAAP)
18.3 %
15.3 %
15.9 %
13.2 %
(1) Adjusted income tax provision excludes the net tax impacts of pre-tax adjusting items and discrete tax items.
The following tables reconcile Segment EBIT to Segment EBITA (non-GAAP) as reported and reconcile Segment EBIT and Segment EBITA (non-GAAP) as reported to adjusted Segment EBIT and Segment EBITA (non-GAAP) and adjusted Segment EBIT and Segment EBITA (non-GAAP) margin (unaudited):
Three Months Ended September 30,
(in millions)
Americas
EMEA
APAC
2026
2025
2026
2025
2026
2025
Sales
$ 4,930
$ 4,325
$ 1,312
$ 1,337
$ 871
$ 780
Segment EBIT
992
763
198
188
162
136
Amortization
77
81
7
13
3
3
Segment EBITA (non-GAAP)
1,069
844
205
201
165
139
Adjusting items:
Transformation costs
17
18
10
7
—
—
Adjusted Segment EBIT (non-GAAP)
1,009
781
208
195
162
136
Adjusted Segment EBITA (non-GAAP)
1,086
862
215
208
165
139
Segment EBIT margin %
20.1 %
17.6 %
15.1 %
14.1 %
18.6 %
17.4 %
Adjusted Segment EBIT margin % (non-GAAP)
20.5 %
18.1 %
15.9 %
14.6 %
18.6 %
17.4 %
Segment EBITA margin % (non-GAAP)
21.7 %
19.5 %
15.6 %
15.0 %
18.9 %
17.8 %
Adjusted Segment EBITA margin % (non-GAAP)
22.0 %
19.9 %
16.4 %
15.6 %
18.9 %
17.8 %
Twelve Months Ended September 30,
(in millions)
Americas
EMEA
APAC
2026
2025
2026
2025
2026
2025
Sales
$ 17,398
$ 15,831
$ 5,119
$ 4,968
$ 3,149
$ 2,797
Segment EBIT
3,088
2,526
700
581
589
461
Amortization
309
356
28
68
14
15
Segment EBITA (non-GAAP)
3,397
2,882
728
649
603
476
Adjusting items:
Transformation costs
74
24
23
9
4
—
Adjusted Segment EBIT (non-GAAP)
3,162
2,550
723
590
593
461
Adjusted Segment EBITA (non-GAAP)
3,471
2,906
751
658
607
476
Segment EBIT margin %
17.7 %
16.0 %
13.7 %
11.7 %
18.7 %
16.5 %
Adjusted Segment EBIT margin % (non-GAAP)
18.2 %
16.1 %
14.1 %
11.9 %
18.8 %
16.5 %
Segment EBITA margin % (non-GAAP)
19.5 %
18.2 %
14.2 %
13.1 %
19.1 %
17.0 %
Adjusted Segment EBITA margin % (non-GAAP)
20.0 %
18.4 %
14.7 %
13.2 %
19.3 %
17.0 %
The following table reconciles adjusted Segment EBITA (non-GAAP) to adjusted Segment EBITA margin (non-GAAP) (unaudited):
Three Months Ended
September 30,
Twelve Months Ended
September 30,
(in millions)
2026
2025
2026
2025
Adjusted Segment EBITA (non-GAAP)
Americas
$ 1,086
$ 862
$ 3,471
$ 2,906
EMEA
215
208
751
658
APAC
165
139
607
476
Sales
7,113
6,442
25,666
23,596
Adjusted Segment EBITA margin (non-GAAP)
20.6 %
18.8 %
18.8 %
17.1 %
The following table reconciles Corporate expense from continuing operations as reported to the comparable adjusted amounts (unaudited):
Three Months Ended
September 30,
Twelve Months Ended
September 30,
(in millions)
2026
2025
2026
2025
Corporate expense (GAAP)
$ 178
$ 269
$ 653
$ 767
Adjusting items:
Transaction/separation costs
(30)
(12)
(73)
(39)
Transformation costs
(68)
(31)
(191)
(147)
ERP asset - accelerated depreciation
—
(102)
—
(102)
Adjusted corporate expense (non-GAAP)
$ 80
$ 124
$ 389
$ 479
6. Net Income and Diluted Earnings Per Share
The following tables reconcile net income from continuing operations attributable to JCI and diluted earnings per share from continuing operations as reported to the comparable adjusted amounts (unaudited):
Three Months Ended September 30,
Income from continuing
operations attributable to JCI
Diluted earnings
per share
(in millions, except per share)
2026
2025
2026
2025
As reported (GAAP)
$ 967
$ 267
$ 1.60
$ 0.42
Adjusting items:
Net mark-to-market adjustments
(57)
13
(0.09)
0.02
Restructuring and impairment costs
87
400
0.14
0.63
Water systems AFFF insurance recoveries
(1)
(26)
—
(0.04)
Transaction/separation costs
30
12
0.05
0.02
ERP asset - accelerated depreciation
—
102
—
0.16
Transformation costs
95
56
0.16
0.09
Discrete tax items
(90)
50
(0.15)
0.08
Related tax impact
(23)
(76)
(0.04)
(0.12)
Adjusted (non-GAAP)*
$ 1,008
$ 798
$ 1.66
$ 1.26
* May not sum due to rounding
Twelve Months Ended September 30
Income from continuing
operations attributable to JCI
Diluted earnings
per share
(in millions, except per share)
2026
2025
2026
2025
As reported (GAAP)
$ 2,880
$ 1,721
$ 4.72
$ 2.63
Adjusting items:
Net mark-to-market adjustments
(73)
6
(0.12)
0.01
Gain on divestiture
(70)
—
(0.11)
—
Restructuring and impairment costs
311
546
0.51
0.83
Water systems AFFF insurance recoveries
(149)
(39)
(0.24)
(0.06)
Transaction/separation costs
73
39
0.12
0.06
ERP asset - accelerated depreciation
—
102
—
0.16
Transformation costs
292
180
0.48
0.28
Discrete tax items
(79)
(36)
(0.13)
(0.06)
Related tax impact
(32)
(57)
(0.05)
(0.07)
Adjusted (non-GAAP)*
$ 3,153
$ 2,462
$ 5.16
$ 3.76
* May not sum due to rounding
The following table reconciles the denominators used to calculate basic and diluted earnings per share (in millions; unaudited):
Three Months Ended
September 30,
Twelve Months Ended
September 30,
2026
2025
2026
2025
Weighted average shares outstanding
Basic weighted average shares outstanding
604
631
609
652
Effect of dilutive securities:
Stock options, unvested restricted stock and
unvested performance share awards
2
2
2
2
Diluted weighted average shares outstanding
606
633
611
654
7. Debt Ratios
The following table includes continuing operations and details net debt to income before income taxes and net debt to adjusted EBITDA (unaudited):
(in millions)
September 30, 2026
June 30, 2026
September 30, 2025
Short-term debt
$ 678
$ 865
$ 723
Current portion of long-term debt
1,066
311
566
Long-term debt
7,533
8,299
8,591
Total debt
9,277
9,475
9,880
Less: cash and cash equivalents
618
641
379
Net debt
$ 8,659
$ 8,834
$ 9,501
Last twelve months income before income
taxes
$ 3,426
$ 2,718
$ 1,969
Net debt to income before income taxes
2.5x
3.3x
4.8x
Last twelve months adjusted EBITDA (non-
GAAP)
$ 4,743
$ 4,553
$ 3,987
Net debt to adjusted EBITDA (non-GAAP)
1.8x
1.9x
2.4x
The following table reconciles income from continuing operations to adjusted EBIT and adjusted EBITDA (unaudited):
Twelve Months Ended
(in millions)
September 30, 2026
June 30, 2026
September 30, 2025
Income from continuing operations
$ 2,890
$ 2,190
$ 1,724
Income tax provision
536
528
245
Income before income taxes
3,426
2,718
1,969
Net financing charges
279
273
319
EBIT
3,705
2,991
2,288
Adjusting items:
Net mark-to-market adjustments
(73)
(3)
6
Restructuring and impairment costs
311
624
546
Water systems AFFF insurance recoveries
(149)
(174)
(39)
Transaction/separation costs
73
55
39
Transformation costs
292
253
180
ERP asset - accelerated depreciation
—
102
102
Gain on divestiture
(70)
(70)
—
Adjusted EBIT (non-GAAP)
4,089
3,778
3,122
Depreciation and amortization
654
775
865
Adjusted EBITDA (non-GAAP)
$ 4,743
$ 4,553
$ 3,987
8. Income Taxes
After adjusting for certain non-recurring items, the Company's effective tax rate for continuing operations was approximately 17% for the three and twelve months ended September 30, 2026 and approximately 12% for the three and twelve months ended September 30, 2025.
DENVER, Oct. 27, 2026 (GLOBE NEWSWIRE) -- The Simply Good Foods Company (Nasdaq: SMPL) (“Simply Good Foods,” or the “Company”), a leader in the Nutritional Snacking category, today reported financial results for the thirteen and fifty-two weeks ended August 29, 2026.
Fourth Quarter Summary:(1)
Net sales of $333.3 million versus $369.0 millionNet income of $30.5 million versus net loss of $12.4 millionEarnings per diluted share of $0.34 versus loss per diluted share of $0.12Adjusted Diluted EPS(2) of $0.44 versus $0.46Adjusted EBITDA(3) $57.5 million versus $66.2 million
Fiscal Year 2027(4) Outlook:
Net sales expected to decline between 13% and 17% year-over-yearGross margins (GAAP) expected to increase between 250 and 300 basis points year-over-yearAdjusted EBITDA expected to decline between 9% and 14% year-over-year
“Fiscal 2026 was a year of decisive action. We recognized that our performance was not where it needed to be and moved quickly to reset the business. We aligned the organization around a focused set of priorities, accelerated work to improve our cost structure, strengthened our financial flexibility, and overhauled our marketing approach across Quest, Atkins, and OWYN. We delivered on the modest financial commitments we made following our second quarter reset, continued to generate significant cash flow despite lower net sales, and completed much of the foundational work necessary to improve the long-term trajectory of the business,” said Joe Scalzo, President and Chief Executive Officer.
Scalzo continued, “Fiscal 2027 will be a challenging but important year in our turnaround. While we expect significant declines in net sales and Adjusted EBITDA, we are taking the actions necessary to restore the economic foundation of the business and rebuild brand momentum. We are reinvesting a portion of our margin recovery behind our brands, with new marketing strategies designed to strengthen consumer connection and improve underlying brand health. We expect performance to improve over the course of the year as our marketing investments take hold, the volume impact of pricing eases, and year-over-year comparisons become more favorable. We believe these actions will position us to exit fiscal 2027 with stronger momentum, improved profitability, and a healthier foundation for long-term growth.”
Fourth Quarter 2026 Results(1)
Net sales of $333.3 million decreased $35.7 million, or 9.7%, versus the comparable year ago period driven by a decline for Atkins and OWYN of 14.9% and 20.6%, respectively. The Company's net sales performance was largely driven by softer retail takeaway and velocity-related distribution pressure.
Total Simply Good Foods fourth quarter retail takeaway(5) decreased about 8% driven by declines for Atkins, OWYN, and Quest of approximately 23%, 7%, and 2%, respectively.
Gross profit of $113.3 million decreased 10.5% versus the comparable year ago period, driven by volume declines, higher input costs, and restructuring costs. Gross margin was 34.0%, a decline of 30 basis points versus prior year, which was largely driven by higher input costs.
Selling and marketing expenses were $32.4 million for both the fiscal fourth quarter and comparable year ago period.
General and administrative ("G&A") expenses of $30.6 million, which contain $1.9 million in restructuring costs, decreased 24.8% versus the comparable year ago period, which includes $8.7 million of integration expenses.
Net interest expense of $4.7 million reflected a 28.7% increase versus the comparable year ago period due to a higher debt balance.
The effective tax rate was 25.6%.
Net income of $30.5 million compared to net loss of $12.4 million for the comparable year ago period.
Adjusted EBITDA of $57.5 million decreased 13.2% versus the comparable year ago period.
Reported earnings per diluted share was $0.34 versus reported loss per diluted share of $0.12 in the comparable year ago period.
Adjusted Diluted EPS was $0.44 versus $0.46 in the comparable year ago period.
Weighted average diluted shares outstanding of 88.5 million declined modestly versus the comparable year ago period, reflecting share repurchases.
Fiscal Year 2026 Summary:
Net sales were $1,356.5 million versus $1,450.9 millionNet loss of $155.9 million versus net income of $103.6 millionLoss per diluted share of $1.69 versus earnings per diluted share of $1.02Adjusted Diluted EPS(2) of $1.70 versus $1.92Adjusted EBITDA(3) of $225.9 million versus $278.2 million
Net sales of $1,356.5 million decreased 6.5% versus the comparable year ago period, driven by declines for Atkins and OWYN of 20.9% and 9.7%, respectively, partially offset by Quest growth of 0.7%. Atkins distribution-related declines were largely as expected. OWYN's net sales decline was the result of poor velocities, including on newly expanded distribution.
Total Simply Good Foods retail takeaway decreased approximately 5% driven by declines for Atkins of approximately 22%, partially offset by Quest and OWYN growth of about 3% and 1% respectively.
Gross profit of $442.4 million decreased 15.9% versus the comparable year ago period, driven by higher input costs. Gross margin was 32.6%, a 360-basis point decline versus the comparable year ago period, driven mainly by $6.5 million of one-time OWYN integration expenses and $5.7 million of restructuring costs.
Selling and marketing expenses of $129.4 million decreased 3.6% versus the comparable year ago period driven by planned marketing declines for Atkins, which more than offset increases to support growth for Quest and OWYN.
G&A expenses of $143.9 million, which includes restructuring costs of $12.7 million, integration expenses of $4.1 million, and term loan transaction fees of $3.0 million, decreased 7.7% versus the comparable year ago period, which included $20.5 million of integration expenses and $0.7 million of term loan transaction fees.
As part of the Company's process to evaluate the carrying value of our brands, prior to the fourth quarter of fiscal year 2026 we recognized $331.0 million non-cash, impairment charges related to Goodwill, and the Atkins and OWYN brand intangible assets. The impairment is largely the result of current fiscal year performance, updated projections of future revenue, and declines in stock price.
Net interest expense of $18.5 million reflected a 10% decrease versus the comparable year ago period due to lower interest rates.
The effective tax rate was 21.3%.
Net loss of $155.9 million compared to net income of $103.6 million for the comparable year ago period.
Adjusted EBITDA of $225.9 million decreased 18.8% versus the comparable year ago period.
Reported loss per diluted share of $1.69 versus reported earnings per diluted share of $1.02 in the comparable year ago period.
Adjusted Diluted EPS was $1.70 versus $1.92 in the comparable year ago period.
Weighted average diluted shares outstanding of 92.4 million declined modestly versus the comparable year ago period, reflecting share repurchases.
Balance Sheet and Cash Flow
At the end of fiscal year 2026, the Company had cash of $138.4 million and an outstanding principal balance on its term loan of $350.0 million, bringing the Company's quarter-end trailing twelve-month Net Debt to Adjusted EBITDA ratio to 0.9x(6). Cash flow from operations was about $181.0 million versus $178.5 million in the comparable year ago period. Capital expenditures were approximately $24.1 million.
Fiscal Year 2027 Outlook
The Company anticipates the following in fiscal year 2027:
Net sales expected to decline between 13% and 17% year-over-yearGross margins (GAAP) expected to increase between 250 and 300 basis points year-over-yearAdjusted EBITDA expected to decline between 9% and 14% year-over-year
The Company expects net interest expense in the range of $18 to $20 million. The Company expects capital expenditures in the range of $15 to $20 million.
For the first quarter of fiscal year 2027:
The Company expects net sales to decline between 19% and 22% year-over-yearGross margins (GAAP) expected to increase by approximately 100 basis points year-over-yearAdjusted EBITDA expected to decline between 28% and 33% year-over-year
The foregoing outlook assumes current economic conditions, consumer purchasing behavior and prevailing tariff rates remain generally consistent across the Company's fiscal year.
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(1) All comparisons refer to the fourth quarter or full fiscal year ended August 29, 2026, versus the comparable year-ago period ended August 30, 2025.
(2) Adjusted Diluted Earnings Per Share is a non-GAAP financial measure. Please refer to “Reconciliation of Adjusted Diluted Earnings Per Share” in this press release for an explanation and reconciliation of this non-GAAP financial measure.
(3) Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization ("EBITDA") is a non-GAAP financial measure. Please refer to the “Reconciliation of EBITDA and Adjusted EBITDA” in this press release for an explanation and reconciliation of this non-GAAP financial measure.
(4) The Company does not provide a forward-looking reconciliation of expected Fiscal Year 2026 Adjusted EBITDA to Net Income, the most directly comparable GAAP financial measure, because we are unable to provide such a reconciliation without unreasonable effort due to the unavailability of reliable estimates for certain components of consolidated net income and the respective reconciliations, and the inherent difficulty of predicting what the changes in these components will be throughout the fiscal year. As these items may vary greatly between periods, we are unable to address the probable significance of the unavailable information, which could significantly affect our future financial results.
(5) Combined Quest, Atkins, and OWYN Circana MULO++C-store and Company unmeasured channel estimate for the 13 and 52-weeks ending August 29, 2026, vs. the comparable 13 and 52-week year ago period.
(6) Net Debt to Adjusted EBITDA is a non-GAAP financial measure which Simply Good Foods defines as the total debt outstanding under our credit agreement with Barclays Bank PLC and other parties ("Credit Agreement"), reduced by cash and cash equivalents, and divided by the Company's trailing twelve month Adjusted EBITDA, as previously defined. The Company does not provide a forward-looking reconciliation of Net Debt to Adjusted EBITDA to Net Debt to Consolidated Net Income, the most directly comparable GAAP financial measures, expected for Fiscal Year 2026, because we are unable to provide such a reconciliation without unreasonable effort due to the unavailability of reliable estimates for certain components of consolidated net income and the respective reconciliations, and the inherent difficulty of predicting what the changes in these components will be throughout the fiscal year. As these items may vary greatly between periods, we are unable to address the probable significance of the unavailable information, which could significantly affect our future financial results.
Conference Call and Webcast Information
The Company will host a conference call with members of the executive management team to discuss these results today, Thursday, October 27, 2026, at 6:30 a.m. Mountain time (8:30 a.m. Eastern time). Investors interested in participating in the live call can dial 877-407-0792 from the U.S. or 201-689-8263 from International locations. A live webcast will be available via the "Investors" section of the Company's website at www.thesimplygoodfoodscompany.com. A telephone replay will be available approximately two hours after the call concludes and will remain accessible through October 30, 2025, by dialing 844-512-2921 from the U.S., or 412-317-6671 from international locations, and entering confirmation code 13755448.
About The Simply Good Foods Company
The Simply Good Foods Company (Nasdaq: SMPL), headquartered in Denver, Colorado, is a consumer-packaged food and beverage company with ambitious goals to raise the bar on what food can be with trusted brands and innovative nutritious snacking products. Within our portfolio of trusted brands (Quest™, Atkins™, and OWYN™), we offer a wide variety of nutritional snacks and beverages, including high protein chips, bars, ready-to-drink (RTD) shakes, and powders, and low sugar, low carb sweets and baked goods. We are a leader of the nutritious snacking movement, poised to expand our healthy lifestyle platform through innovation-driven organic growth and external investment opportunities. To learn more, visit www.thesimplygoodfoodscompany.com.
Investor Contact
Matt Siler
Vice President, Investor Relations and Treasury
The Simply Good Foods Company [email protected]
Forward Looking Statements
Certain statements made herein are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by or include words such as “will”, “expect”, “intends” or other similar words, phrases or expressions. These statements relate to future events or our future financial or operational performance and involve known and unknown risks, uncertainties and other factors that could cause our actual results, levels of activity, performance or achievement to differ materially from those expressed or implied by these forward-looking statements. We caution you that these forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. You should not place undue reliance on forward-looking statements. These statements reflect our current views with respect to future events, are based on assumptions and are subject to risks and uncertainties. These risks and uncertainties relate to, among other things, our ability to achieve our estimates of OWYN’s net sales and Adjusted EBITDA and our anticipated synergies from the OWYN Acquisition, our net leverage ratio post-acquisition, our Adjusted EPS post-acquisition, our ability to maintain OWYN personnel and effectively integrate OWYN, our operations being dependent on changes in consumer preferences and purchasing habits regarding our products, a global supply chain and effects of supply chain constraints and inflationary pressure on us and our contract manufacturers, our ability to continue to operate at a profit or to maintain our margins, the effect pandemics or other global disruptions on our business, financial condition and results of operations, the sufficiency of our sources of liquidity and capital, our ability to maintain current operation levels and implement our growth strategies, our ability to maintain and gain market acceptance for our products or new products, our ability to capitalize on attractive opportunities, our ability to respond to competition and changes in the economy including changes regarding inflation and increasing ingredient and packaging costs and labor challenges at our contract manufacturers and third party logistics providers, the amounts of or changes with respect to certain anticipated raw materials and other costs, difficulties and delays in achieving the synergies and cost savings in connection with acquisitions, changes in the business environment in which we operate including general financial, economic, capital market, regulatory and geopolitical conditions affecting us and the industry in which we operate, our ability to maintain adequate product inventory levels to timely supply customer orders, changes in taxes, tariffs, duties, governmental laws and regulations, the availability of or competition for other brands, assets or other opportunities for investment by us or to expand our business, competitive product and pricing activity, difficulties of managing growth profitably, the loss of one or more members of our management team, potential for increased costs and harm to our business resulting from unauthorized access of the information technology systems we use in our business, expansion of our wellness platform and other risks and uncertainties indicated in the Company’s Form 10-K, Form 10-Q, and Form 8-K reports (including all amendments to those reports) filed with the U.S. Securities and Exchange Commission from time to time. In addition, forward-looking statements provide the Company’s expectations, plans or forecasts of future events and views as of the date of this communication. Except as required by law, the Company undertakes no obligation to update such statements to reflect events or circumstances arising after such date and cautions investors not to place undue reliance on any such forward-looking statements. These forward-looking statements should not be relied upon as representing the Company’s assessments as of any date subsequent to the date of this communication.
The Simply Good Foods Company and Subsidiaries
Consolidated Balance Sheets
(Unaudited, dollars in thousands, except share and per share data) August 29, 2026 August 30, 2025Assets Current assets: Cash $138,425 $98,468 Accounts receivable, net 137,036 164,978 Inventories, net 132,458 167,217 Prepaid expenses 7,522 7,209 Other current assets 18,099 15,812 Total current assets 433,540 453,684 Long-term assets: Property and equipment, net 52,614 39,738 Intangible assets, net 953,004 1,261,603 Goodwill 551,974 589,974 Other long-term assets 45,612 51,046 Total assets $2,036,744 $2,396,045 Liabilities and stockholders’ equity Current liabilities: Accounts payable $45,071 $78,298 Accrued interest — 44 Accrued expenses and other current liabilities 32,702 46,219 Total current liabilities 77,773 124,561 Long-term liabilities: Long-term debt, less current maturities 347,219 249,066 Deferred income taxes 116,788 166,091 Other long-term liabilities 42,556 49,494 Total liabilities 584,336 589,212 See commitments and contingencies (Note 11) Stockholders’ equity: Preferred stock, $0.01 par value, 100,000,000 shares authorized, none issued — — Common stock, $0.01 par value, 600,000,000 shares authorized, 104,073,452 and 103,688,071 issued at August 29, 2026 and August 30, 2025, respectively 1,041 1,037 Treasury stock, 15,619,805 shares and 3,957,571 shares at cost at August 29, 2026 and August 30, 2025, respectively (344,775) (129,337)Additional paid-in-capital 1,362,717 1,346,687 Retained earnings 434,976 590,879 Accumulated other comprehensive loss (1,551) (2,433)Total stockholders’ equity 1,452,408 1,806,833 Total liabilities and stockholders’ equity $2,036,744 $2,396,045 The Simply Good Foods Company and Subsidiaries
Consolidated Statements of Income and Comprehensive Income (Loss)
(Unaudited, dollars in thousands, except share and per share data) 13-Weeks Ended 13-Weeks Ended 52-Weeks Ended 52-Weeks Ended August 29, 2026 August 30, 2025 August 29, 2026 August 30, 2025Net sales $333,305 $369,041 $1,356,499 $1,450,920 Cost of goods sold 219,974 242,436 914,136 925,173 Gross profit 113,331 126,605 442,363 525,747 Operating expenses: Selling and marketing 32,429 32,411 129,446 134,282 General and administrative 30,567 40,624 143,901 155,930 Depreciation and amortization 4,452 4,421 17,731 16,900 Business transaction costs — — — 820 Loss on impairment — 60,928 331,000 60,928 Total operating expenses 67,448 138,384 622,078 368,860 (Loss) income from operations 45,883 (11,779) (179,715) 156,887 Other income (expense): Interest income 872 513 2,940 2,663 Interest expense (5,552) (4,150) (21,447) (23,249)(Loss) gain on foreign currency transactions (199) (79) (65) (421)Other income 13 3 164 23 Total other income (expense) (4,866) (3,713) (18,408) (20,984) (Loss) income before income taxes 41,017 (15,492) (198,123) 135,903 Income tax (benefit) expense 10,519 (3,135) (42,220) 32,289 Net (loss) income $30,498 $(12,357) $(155,903) $103,614 Other comprehensive (loss) income: Foreign currency translation, net of reclassification adjustments (64) 110 882 (394)Comprehensive (loss) income $30,434 $(12,247) $(155,021) $103,220 (Loss) earnings per share Basic $0.34 $(0.12) $(1.69) $1.03 Diluted $0.34 $(0.12) $(1.69) $1.02 Weighted average shares outstanding: Basic 88,456,490 100,419,463 92,372,473 100,695,181 Diluted 88,547,937 100,997,903 92,372,473 101,510,772 The Simply Good Foods Company and Subsidiaries
Consolidated Statements of Cash Flows
(Unaudited, dollars in thousands) 52-Weeks Ended 52-Weeks Ended August 29, 2026 August 30, 2025Operating activities Net (loss) income $(155,903) $103,614 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 24,255 21,431 Amortization of deferred financing costs and debt discount 672 1,479 Stock compensation expense 17,280 15,273 Loss on impairment 331,000 60,928 Estimated credit losses (recoveries) 355 241 Unrealized loss (gain) on foreign currency transactions 65 421 Deferred income taxes (49,452) 3 Amortization of operating lease right-of-use asset 6,068 6,863 Other 1,418 1,133 Changes in operating assets and liabilities: Accounts receivable, net 28,322 (14,682)Inventories, net 35,852 (25,848)Prepaid expenses (304) (1,507)Other current assets (2,558) (6,894)Accounts payable (33,163) 18,535 Accrued interest (44) (221)Accrued expenses and other current liabilities (17,214) (3,591)Other assets and liabilities (5,600) 1,279 Net cash provided by operating activities 181,049 178,457 Investing activities Purchases of property and equipment (24,102) (20,542)Acquisition of business, net of cash acquired — 1,713 Investments in intangible assets and other assets — (2,103)Net cash used in investing activities (24,102) (20,932)Financing activities Proceeds from option exercises 1,056 12,917 Tax payments related to issuance of restricted stock units (2,302) (3,236)Repurchase of common stock (213,308) (50,886)Principal payments of long-term debt (50,000) (150,000)Proceeds from issuance of long-term debt 150,000 — Deferred financing costs (2,632) — Net cash (used in) provided by financing activities (117,186) (191,205)Net increase (decrease) in cash 39,761 (33,680)Effect of exchange rate on cash 196 (382)Cash at beginning of period 98,468 132,530 Cash at end of period $138,425 $98,468 Net Sales by Geographic Area and Brands
The following is a summary of revenue disaggregated by geographic area and brand:
13-Weeks Ended 13-Weeks Ended 52-Weeks Ended 52-Weeks Ended(In thousands)August 29, 2026 August 30, 2025 August 29, 2026 August 30, 2025North America(1) Atkins$78,038 $91,682 $332,674 $420,787Quest 217,662 233,169 869,707 863,614OWYN 29,694 37,409 123,785 137,020Total North America 325,394 362,260 1,326,166 1,421,421International(1) 7,911 6,781 30,333 29,499Total$333,305 $369,041 $1,356,499 $1,450,920(1)The North America geographic area consists of net sales substantially related to the United States and there is no individual foreign country to which more than 10% of the Company’s net sales are attributed or that is otherwise deemed individually material. Reconciliation of EBITDA and Adjusted EBITDA
EBITDA and Adjusted EBITDA. EBITDA and Adjusted EBITDA are non-GAAP financial measures commonly used in our industry and should not be construed as alternatives to net income as an indicator of operating performance or as alternatives to cash flow provided by operating activities as a measure of liquidity (each as determined in accordance with GAAP). Simply Good Foods defines EBITDA as net income or loss before interest income, interest expense, income tax expense, depreciation and amortization, and Adjusted EBITDA as further adjusted to exclude the following items: loss on impairment, stock-based compensation expense, business transaction costs, purchase price accounting inventory step-up, integration expense, term loan transaction fees, restructuring and other costs, and other non-core expenses. The Company believes that EBITDA and Adjusted EBITDA, when used in conjunction with net income, are useful to provide additional information to investors. Management of the Company uses EBITDA and Adjusted EBITDA to supplement net income because these measures reflect operating results of the on-going operations, eliminate items that are not directly attributable to the Company’s underlying operating performance, enhance the overall understanding of past financial performance and future prospects, and allow for greater transparency with respect to the key metrics the Company’s management uses in its financial and operational decision making. The Company also believes that EBITDA and Adjusted EBITDA are frequently used by securities analysts, investors and other interested parties in the evaluation of companies in its industry. EBITDA and Adjusted EBITDA may not be comparable to other similarly titled captions of other companies due to differences in the non-GAAP calculation.
The following unaudited table provides a reconciliation of EBITDA and Adjusted EBITDA to its most directly comparable GAAP measure, which is net income, for the thirteen and fifty-two weeks ended August 29, 2026, and thirteen and fifty-two weeks ended August 30, 2025:
(In thousands)
13-Weeks Ended 13-Weeks Ended 52-Weeks Ended 52-Weeks Ended August 29, 2026 August 30, 2025 August 29, 2026 August 30, 2025Net (loss) income $30,498 $(12,357) $(155,903) $103,614 Interest income (872) (513) (2,940) (2,663)Interest expense 5,552 4,150 21,447 23,249 Income tax (benefit) expense 10,519 (3,135) (42,220) 32,289 Depreciation and amortization 6,159 5,951 24,255 21,431 EBITDA 51,856 (5,904) (155,361) 177,920 Loss on impairment — 60,928 331,000 60,928 Stock-based compensation expense 4,094 2,454 17,280 15,273 Business transaction costs — — — 820 Inventory step-up — — — 1,412 Integration expense(1) — 8,744 10,621 20,856 Term loan transaction fees — — 3,030 715 Restructuring and other costs 1,419 — 19,492 — Other(2) 125 17 (193) 238 Adjusted EBITDA $57,494 $66,239 $225,869 $278,162 (1)Includes one-time effects from actions taken to mitigate OWYN product quality issues.(2)Other items consist principally of exchange impact of foreign currency transactions and other expenses. Reconciliation of Adjusted Diluted Earnings Per Share
Adjusted Diluted Earnings per Share. Adjusted Diluted Earnings per Share is a non-GAAP financial measure commonly used in our industry and should not be construed as an alternative to diluted earnings per share as an indicator of operating performance. Simply Good Foods defines Adjusted Diluted Earnings Per Share as diluted earnings per share before depreciation and amortization, loss on impairment, stock-based compensation expense, business transaction costs, purchase price accounting inventory step-up, integration expense, term loan transaction fees, restructuring and other costs, and other non-core expenses, on a theoretical tax effected basis of such adjustments. The tax effect of such adjustments to Adjusted Diluted Earnings Per Share is calculated by applying an overall assumed statutory tax rate to each gross adjustment as shown in the reconciliation to Adjusted EBITDA, as previously defined. The assumed statutory tax rate reflects a normalized effective tax rate estimated based on assumptions regarding the Company's statutory and effective tax rate for each respective reporting period, including the current and deferred tax effects of each adjustment, and is adjusted for the effects of tax reform, if any. The Company consistently applies the overall assumed statutory tax rate to periods throughout each fiscal year and reassesses the overall assumed statutory rate on annual basis. The Company believes that the inclusion of these supplementary adjustments in presenting Adjusted Diluted Earnings per Share, when used in conjunction with diluted earnings per share, are appropriate to provide additional information to investors, reflects more accurately operating results of the on-going operations, enhances the overall understanding of past financial performance and future prospects and allows for greater transparency with respect to the key metrics the Company uses in its financial and operational decision making. The Company also believes that Adjusted Diluted Earnings per Share is frequently used by securities analysts, investors and other interested parties in the evaluation of companies in its industry. Adjusted Diluted Earnings per Share may not be comparable to other similarly titled captions of other companies due to differences in the non-GAAP calculation.
The following unaudited tables below provide a reconciliation of Adjusted Diluted Earnings Per Share to its most directly comparable GAAP measure, which is diluted earnings per share, for the thirteen and fifty-two weeks ended August 29, 2026, and the thirteen and fifty-two weeks ended August 30, 2025:
13-Weeks Ended 13-Weeks Ended 52-Weeks Ended 52-Weeks Ended August 29, 2026 August 30, 2025 August 29, 2026 August 30, 2025Diluted (loss) earnings per share $0.34 $(0.12) $(1.69) $1.02 Depreciation and amortization 0.07 0.06 0.26 0.21 Loss on impairment — 0.60 3.58 0.60 Stock-based compensation expense 0.05 0.02 0.19 0.15 Business transaction costs — — — 0.01 Inventory step-up — — — 0.01 Integration expense — 0.09 0.11 0.21 Term loan transaction fees — — 0.03 0.01 Restructuring and other costs 0.02 — 0.21 — Tax effects of adjustments(1) (0.03) (0.19) (0.99) (0.30)Rounding(2) (0.01) — — — Adjusted diluted earnings per share $0.44 $0.46 $1.70 $1.92 (1)This line item reflects the aggregate tax effect of all non-tax adjustments reflected in the preceding line items of the table. The tax effect of each adjustment is computed (i) by dividing the gross amount of the adjustment, as shown in the Adjusted EBITDA reconciliation, by the number of diluted weighted average shares outstanding for the applicable fiscal period and (ii) applying an overall assumed statutory tax rate of 25% for the thirteen and fifty-two weeks ended August 29, 2026, as well as the thirteen and fifty-two weeks ended August 30, 2025.(2)Adjusted Diluted Earnings Per Share amounts are computed independently for each quarter. Therefore, the sum of the quarterly Adjusted Diluted Earnings Per Share amounts may not equal the year to date Adjusted Diluted Earnings Per Share amounts due to rounding. Reconciliation of Net Debt to Adjusted EBITDA
Net Debt to Adjusted EBITDA. Net Debt to Adjusted EBITDA is a non-GAAP financial measure which Simply Good Foods defines as the total debt outstanding under our credit agreement with Barclays Bank PLC and other parties (“Credit Agreement”), reduced by cash and cash equivalents, and divided by the trailing twelve months of Adjusted EBITDA, as previously defined.
The following unaudited table below provides a reconciliation of Net Debt to Adjusted EBITDA as of August 29, 2026:
(In thousands) August 29, 2026Net Debt: Total debt outstanding under the Credit Agreement $350,000 Less: cash and cash equivalents (138,425)Net Debt as of August 29, 2026 $211,575 Adjusted EBITDA $225,869 Net Debt to Adjusted EBITDA 0.9 x
Acquisition positions Guidewire to lead the transformation to agentic underwriting, setting a new standard where AI agents assess, price, and make decisions alongside underwriters and actuaries across commercial and specialty lines
, /PRNewswire/ -- CONNECTIONS CONFERENCE -- Guidewire (NYSE: GWRE) announced today that it entered into a definitive agreement to acquire Hyperexponential Ltd ("hyperexponential" or "hx") for a base purchase price of $1.7 billion in cash, subject to adjustments, and up to an additional $400 million in contingent consideration based on achievement of specified recurring revenue targets. hyperexponential is a London-based agentic platform provider of AI-native underwriting and pricing software for commercial lines P&C insurers. hyperexponential is an existing Guidewire PartnerConnect Technology Alliance Partner. hyperexponential brings established trust and scale in underwriting, having powered underwriting decisions across more than $75 billion in annual commercial P&C premium for leading global insurers, reinsurers, and managing general agents (MGAs). The acquisition is expected to accelerate ARR and revenue growth while remaining consistent with Guidewire's long-term margin targets.
hyperexponential is the agentic platform for commercial P&C insurance underwriting.
Guidewire announces agreement to acquire hyperexponential.
The acquisition strengthens Guidewire's leadership in P&C technology and sets up the company to define agentic underwriting, a new approach in which AI agents work alongside underwriters and actuaries to assess risk, price it, and make decisions, from the most complex specialty risks to high-volume commercial business. Insurers will be able to respond to more submissions, faster, with pricing and risk decisions that consistently reflect their best underwriting judgment. This will enable insurers to write more profitable business, grow into new lines with confidence, and free underwriting teams to focus on the risks where their expertise matters most.
"We're delighted to welcome Amrit Santhirasenan and the team at hyperexponential to Guidewire. There isn't another company in the world whose passion for insurance, technical ambition, and vision for the potential of AI in insurance align so closely with our own," said Mike Rosenbaum, chief executive officer, Guidewire. "Insurance is a distinctly complex industry, where the quality of risk decisions has an immense impact on business outcomes. Guidewire and hyperexponential are uniquely positioned to deliver industry-specific AI solutions that will transform commercial underwriting. Together we will bring greater and more scalable intelligence to the insurance decisions that will help underwrite the risks of tomorrow."
"We founded hyperexponential on the conviction that underwriting judgment is the highest-leverage work insurers do," said Amrit Santhirasenan, CEO and co-founder, hyperexponential. "Guidewire is the most trusted name in P&C insurance technology, with deep expertise in managing and safeguarding the policy and risk information insurers rely on throughout the insurance lifecycle. Together, we'll bring insight from submission to bind and from the individual risk to the entire portfolio. With hx and Guidewire, insurers will be able to respond to submissions faster and, more importantly, improve loss ratios and allocate capital more effectively."
Underwriting speed and accuracy remain vital to pricing risk appropriately and maintaining portfolio resilience as P&C insurers face changing environmental, market, and regulatory conditions. AI-driven reductions in time-to-quote, among other factors, are having a significant effect on P&C insurer revenue, according to the Celent report "AI Trends Across the Insurance Value Chain: P&C Edition - North America." Celent notes that "...one industry consulting firm working with US and UK commercial P&C insurers found AI can improve underwriting efficiency significantly in complex lines and reduce loss ratios by percentage points by making use of previously unstructured data like telematics, satellite imagery, and loss history."
hyperexponential has established a leading position in AI-native underwriting and pricing, with a particularly strong presence among commercial and specialty insurers in the United Kingdom. The transaction is expected to contribute at least 650 basis points to Guidewire's fiscal year 2027 ARR growth on an inorganic basis and then, starting in fiscal year 2028, at least 150 basis points to Guidewire's durable organic ARR growth, further strengthening the company's long-term growth profile.
Transaction Details
Guidewire expects to fund the transaction through $1.0 billion in new term loan financing and existing cash on hand. Guidewire has secured a binding debt commitment for the loan from Bank of America, N.A. and Citibank, N.A. The acquisition is expected to close in the second quarter of Guidewire's fiscal year 2027. This acquisition is expected to have no impact on Guidewire's first quarter of fiscal year 2027 guidance previously issued on September 3, 2026. Guidewire will provide guidance for the second quarter of fiscal year 2027 and update full year fiscal 2027 guidance on its next earnings call in December 2026.
Advisors
Centerview Partners is serving as exclusive financial advisor to Guidewire, and Latham & Watkins LLP is serving as legal counsel to Guidewire.
J.P. Morgan is serving as exclusive financial advisor to hyperexponential, and Wilson Sonsini Goodrich & Rosati (UK) LLP is serving as legal counsel to hyperexponential.
Conference Call and Webcast Information
Guidewire will host a business update call today, October 27, 2026, at 8:30 a.m. EDT (5:30 a.m. PDT) to discuss the proposed acquisition of hyperexponential. The call is scheduled to last approximately 30 minutes. A live webcast of the call will be available on the Investor Relations section of Guidewire's website at ir.guidewire.com and at https://edge.media-server.com/mmc/p/vhegseej. Analysts and investors who wish to participate in the live Q&A session by telephone must register in advance at https://register-conf.media-server.com/register/BIc8924c2bb06b4042a034ea7da33d306d. Upon registering, participants will receive dial-in information and a unique PIN, along with an email confirmation. Participants may then join by dialing the number provided or by selecting the "Call Me" option, which delivers an immediate callback from a U.S. number. A replay of the webcast will be available on Guidewire's Investor Relations website shortly after the call concludes.
Participants are encouraged to register at least 10 minutes before the call. A supplemental presentation accompanying the discussion is available with this press release and on the Investor Relations section of Guidewire's website at ir.guidewire.com.
About Guidewire Software
Guidewire is the platform P&C insurers trust to engage, innovate, and grow efficiently. More than 570 insurers in 44 countries, from new ventures to the largest and most complex in the world, rely on Guidewire products. With core systems leveraging data and analytics, digital, and artificial intelligence, Guidewire defines cloud platform excellence for P&C insurers.
We are proud of our unparalleled implementation record, with 1,700+ successful projects supported by the industry's largest R&D team and consulting partner ecosystem. Our marketplace represents the largest partner community in P&C, where customers can access hundreds of applications to accelerate integration, localization, and innovation.
For more information, please visit www.guidewire.com and follow us on X and LinkedIn.
About hyperexponential
hyperexponential is the agentic platform for commercial P&C insurance underwriting. The platform amplifies underwriting judgment across submission triage, risk assessment, pricing, rating, and portfolio steering, helping carriers write more business at a better loss ratio. hx is trusted by leading global insurers for underwriting decisions across more than $75 billion in annual commercial P&C premium. Customers include Aviva, Allianz, Sompo, Beazley, Markel, HDI, Cincinnati Financial, Convex, and Bowhead. Learn more at hyperexponential.com.
Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding the proposed transaction, the definitive agreement, the expected timing of the closing of the proposed transaction, the ability of the parties to complete the proposed transaction, the expected benefits of the proposed transaction, the expected funding of the proposed transaction, the expected impact to Guidewire's revenue for the first quarter of fiscal year 2027 and ARR growth for fiscal year 2027 and 2028, and any assumptions underlying any of the foregoing. Words such as "expect," "anticipate," "should," "believe," "hope," "target," "project," "goals," "estimate," "potential," "predict," "may," "will," "might," "could," "intend," variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Forward-looking statements represent Guidewire's current expectations regarding future events and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those implied by the forward-looking statements. Among those risks and uncertainties are the risk that the proposed transaction may not be completed in a timely manner or at all; the potential failure to receive, on a timely basis or otherwise, the required funding for the proposed transaction; the potential failure to consummate the transaction; that the proposed transaction may involve unexpected costs, liabilities, or delays; and risks relating to Guidewire's business, including those described in Guidewire's most recent Forms 10-K and 10-Q filed with the Securities and Exchange Commission (the "SEC") as well as other documents that may be filed by Guidewire from time to time with the SEC. Guidewire may not consummate the proposed transaction described in this press release and, if the proposed transaction is consummated, cannot provide any assurances regarding the final terms of the transaction or the expected benefits of the proposed transaction. The forward-looking statements included in this press release speak only as of the date of this press release, and Guidewire does not undertake to update the statements included in this press release for subsequent developments, except as may be required by law.
MEDIA CONTACT:
Kristen Sharkey, Sr. Director, Communications
Guidewire Software, Inc.
+1.203.644.4899
[email protected]
INVESTOR CONTACT:
Alex Hughes, VP, Investor Relations
Guidewire Software, Inc.
+1.650.356.4921
[email protected]
Hubbell ve třetím čtvrtletí zvýšil tržby o 25 % a upravený zisk na akcii o 14 % na 5,91 USD. Celoroční výhled upraveného EPS zvýšil na 20,40 až 20,60 USD.
Q3 diluted EPS of $4.94; adjusted diluted EPS of $5.91 (up 14% y/y)Q3 net sales +25% (organic +11%; M&A +13%)Q3 operating margin of 21.8%; adjusted operating margin of 25.5% (up 160 bps y/y)FY 2026 diluted EPS expected range of $17.30-$17.50; raising adj. diluted EPS to $20.40-$20.60 SHELTON, CT. (October 27, 2026) – Hubbell Incorporated (NYSE: HUBB) today reported operating results for the third quarter ended September 30, 2026.
“Hubbell delivered strong financial performance in the third quarter, with double digit growth in organic sales, adjusted operating profit, adjusted earnings per share and free cash flow” said Gerben Bakker, Chairman, President and CEO.
Mr. Bakker continued, “Third quarter results were highlighted by >20% organic growth in Electrical Solutions, led by strong datacenter markets and bolstered by content gains and capacity expansion investments. NSI results were strong in the quarter, and performance and integration efforts are trending ahead of our initial expectations. Utility Solutions delivered solid organic growth in the quarter, led by distribution, transmission and substation markets. Orders and end market demand remained strong, driving continued backlog build in the quarter, and we remain focused on proactively investing in capacity expansion to serve our customers in high growth areas.”
Mr. Bakker concluded, "We are raising our full year 2026 outlook, primarily driven by stronger anticipated Electrical Solutions growth."
Certain terms used in this release, including “net debt”, “free cash flow”, “organic net sales”, “organic net sales growth”, “restructuring-related costs”, “Adjusted EBITDA”, and certain other “adjusted” measures, are defined under the section entitled “Non-GAAP Definitions.” See page 11 for more information.
THIRD QUARTER FINANCIAL HIGHLIGHTS
The comments and year-over-year comparisons in this segment review are based on third quarter results in 2026 and 2025.
Utility Solutions segment net sales in the third quarter of 2026 increased 9% to $1,028 million compared to $944 million reported in the third quarter of 2025. Organic net sales increased approximately 5% in the quarter compared to the third quarter of 2025. Grid Infrastructure net sales increased approximately 13% and Grid Automation net sales decreased approximately 4%. Segment operating income in the third quarter of 2026 was $241 million, or 23.5% of net sales, compared to $219 million, or 23.2% of net sales, in the same period of 2025. Adjusted operating income was $267 million, or 26.0% of net sales, in the third quarter of 2026 as compared to $242 million, or 25.7% of net sales, in the same period of the prior year. Changes in operating income and operating margin were primarily due to volume growth, the impact of acquisitions, favorable price realization, productivity and a net tariff benefit, partially offset by higher cost inflation and raw material costs.
Electrical Solutions segment net sales in the third quarter of 2026 increased 51% to $845 million compared to $559 million reported in the third quarter of 2025. Organic net sales increased 22% in the quarter, while acquisitions added 29%. Segment operating income in the third quarter of 2026 was $168 million, or 19.8% of net sales, compared to $111 million, or 19.9% of net sales, in the same period of 2025. Adjusted operating income was $210 million, or 24.8% of net sales, in the third quarter of 2026 as compared to $116 million, or 20.8% of net sales, in the same period of the prior year. Changes in operating income and operating margin were driven primarily by volume growth, the impact of acquisitions, favorable price realization, productivity and a net tariff benefit, partially offset by higher cost inflation and raw material costs.
Adjusted diluted EPS in the third quarter of 2026 excluded $0.89 of amortization of acquisition-related intangible assets and $0.08 of transaction, integration & separation costs. Adjusted diluted EPS in the third quarter of 2025 excluded $0.35 of amortization of acquisition-related intangible assets and $0.05 of transaction, integration, & separation costs.
Net cash provided by operating activities was $323 million in the third quarter of 2026 versus net cash provided by operating activities of $284 million in the same period in 2025. Free cash flow was $280 million in the third quarter of 2026 versus $254 million in the comparable period of 2025.
SUMMARY & OUTLOOK
For the full year 2026, Hubbell anticipates total sales growth of 18-19%, including organic sales growth of 10-11%. Hubbell expects 2026 GAAP diluted earnings per share in the range of $17.30 to $17.50 and adjusted diluted earnings per share (“Adjusted EPS”) in the range of $20.40 to $20.60. For the full year, Adjusted EPS excludes amortization of acquisition-related intangible assets, which the Company expects to be approximately $2.50 per share, and transaction, integration, and separation costs, which the Company expects to be approximately $0.60 per share. The Company believes Adjusted EPS is a useful measure of underlying performance in light of our acquisition strategy.
The diluted earnings per share and Adjusted EPS ranges are based on an adjusted tax rate of 22.0% to 22.5% and include approximately $20 million of anticipated restructuring and related investment. The Company expects full year 2026 free cash flow conversion of approximately 90% on adjusted net income.
CONFERENCE CALL
Hubbell will conduct an earnings conference call to discuss its third quarter 2026 financial results today, October 27, 2026 at 10:00 a.m. ET. A live audio of the conference call will be available and can be accessed by visiting Hubbell's "Investor Relations - Events/Presentations" section of www.hubbell.com. Audio replays will also be available at the conclusion of the call by visiting www.hubbell.com and selecting "Investors" from the options at the bottom of the page and then "Events/Presentations" from the drop-down menu.
FORWARD-LOOKING STATEMENTS
Certain statements contained herein may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements generally relate to our expectations and beliefs regarding our financial results, condition and outlook, projections of future performance, anticipated growth and end markets, changes in operating results, market conditions and economic conditions, expected capital resources, liquidity, financial performance, pension funding and results of operations, plans, strategies, opportunities, developments and productivity initiatives, competitive positioning, and trends in particular markets or industries. In addition, statements related to our outlook for the fourth quarter and full year 2026 and beyond, and all statements set forth in the “Summary & Outlook” section above, as well as other statements that are not strictly historic in nature, are forward-looking. These statements may be identified by the use of forward-looking words or phrases such as “believe”, “expect”, “anticipate”, “intend”, “depend”, “plan”, “estimated”, “predict”, “target”, “should”, “could”, “may”, “subject to”, “continues”, “growing”, “prospective”, “forecast”, “projected”, “purport”, “might”, “if”, “contemplate”, “potential”, “pending”, “goals”, “scheduled”, “will”, “will likely be”, and similar words and phrases. Such forward-looking statements are based on our current expectations and involve numerous assumptions, known and unknown risks, uncertainties and other factors which may cause actual and future performance or the Company’s achievements to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Such factors include, but are not limited to: the impact of and substantial uncertainty regarding the duration of existing and newly announced trade tariffs, import quotas or other trade actions, restrictions or measures taken by the United States, China, Mexico, the United Kingdom, member states of the European Union, and other countries, including the recent and ongoing potential changes in U.S. trade policies, that may be made by the current or a future presidential administration and changes in trade policies in other countries made in response to changes in the U.S. trade policies; the timing of and eligibility for anticipated additional International Emergency Economic Power Act (IEEPA) tariff refunds; the general impact of inflation on our business, including the impact on raw materials costs, elevated interest rates and increased energy costs and our ability to implement and maintain pricing actions that we have taken to cover higher costs and protect our margin profile; economic and business conditions in particular industries, markets or geographic regions, as well the potential for macro-economic effects of the U.S. government federal deficit, and continued inflation, a significant economic slowdown, stagflation or recession; effects of unfavorable foreign currency exchange rates and the potential use of hedging instruments to hedge the exposure to fluctuating rates of foreign currency exchange on inventory purchases; supply chain disruptions and availability,
costs and quantity of raw materials, purchased components, energy and freight; changes in demand for our products, market conditions, product quality, or product availability adversely affecting sales levels; ability to effectively develop and introduce new products; changes in markets or competition adversely affecting realization of price increases; continued strength in datacenter markets, notwithstanding certain opposition; continued softness in the heavy industrial and residential markets of Electrical Solutions; failure to achieve projected levels of efficiencies, and maintain cost savings and cost reduction measures, including those expected as a result of our lean initiatives and strategic sourcing plans; failure to comply with import and export laws; changes relating to impairment of our goodwill and other intangible assets; inability to access capital markets or failure to maintain our credit ratings; changes in expected or future levels of operating cash flow, indebtedness and capital spending; regulatory issues, and extensive worldwide changes to the taxation of multinational enterprises, including global minimum tax rules under the Organisation for Economic Co-operation and Development’s Pillar Two initiative and potential modifications to corporate taxation by the U.S. government, including adjustments to tax rates, deduction limitations, cross-border tax provisions, and administrative guidance; a major disruption in one or more of our manufacturing or distribution facilities or headquarters, including the impact of plant consolidations and relocations; changes in our relationships with, or the financial condition or performance of, key distributors and other customers, agents or business partners which could adversely affect our results of operations; impact of productivity improvements on lead times, quality and delivery of product; anticipated future contributions and assumptions including increases in interest rates and changes in plan assets with respect to pensions and other retirement benefits, as well as pension withdrawal liabilities; adjustments to product warranty accruals in response to claims incurred, historical experiences and known costs; unexpected costs or charges, certain of which might be outside of our control; changes in strategy due to economic conditions or other conditions outside of our control affecting anticipated future global product sourcing levels; ability to carry out future acquisitions and strategic investments in our core businesses as well as the acquisition related costs; the ability to successfully manage and integrate acquired businesses, such as the acquisitions of NSI Electrical Buyer, Inc. (the NSI Industries business), Alliance USAcqCo 2, Inc. (the Ventev business), Nicor, Inc. (the Nicor business), and Power Rose Acquisition, Inc. (the DMC Power business), as well as the failure to realize expected synergies and benefits anticipated when we make an acquisition due to potential adverse reactions or changes to business or employee relationships resulting from completion of the transaction, competitive responses to the transaction, the possibility that the anticipated benefits of the transaction are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of an acquired business, diversion of management’s attention from ongoing business operations and opportunities, and litigation relating to the transaction; the impact of certain divestitures, including the benefits and costs of the sale of the residential lighting business;
the ability to effectively implement Enterprise Resource Planning systems without disrupting operational and financial processes; the ability of government customers to meet their financial obligations; political unrest and military actions in foreign countries, including the conflicts in Ukraine and the Middle East and trade tensions with China, as well as the impact on world markets and energy supplies and prices resulting therefrom, including the U.S.-Israel-Iran conflict, which has had substantial effects on global trade, the energy markets and the financial markets; the impact of potential natural disasters or additional public health emergencies on our financial condition and results of operations; failure of information technology systems, cybersecurity breaches, cyber threats, malware, phishing attacks, break-ins and similar events resulting in unauthorized disclosure of confidential information or disruptions or damage to information technology systems that could cause interruptions to our operations or adversely affect our internal control over financial reporting, including the impact of issues that may arise from the use of artificial intelligence technologies; incurring significant and/or unexpected costs to avoid, manage, defend and litigate intellectual property matters; future repurchases of common stock under our common stock repurchase program; changes in accounting principles, interpretations, or estimates; failure to comply with any laws and regulations, including those related to data privacy and information security, environmental laws and those relating to conflict-free minerals; the outcome of environmental, legal and tax contingencies or costs compared to amounts provided for such contingencies, including contingencies or costs with respect to pension withdrawal liabilities; improper conduct by any of our employees, agents or business partners that damages our reputation or subjects us to civil or criminal liability; our ability to hire, retain and develop qualified personnel; and other factors described in our Securities and Exchange Commission filings, including in the “Business”, “Risk Factors”, “Management’s Discussion and Analysis of Financial Condition and Results of Operations”, “Forward-Looking Statements” and “Quantitative and Qualitative Disclosures about Market Risk” sections in our annual and quarterly reports filed with Securities and Exchange Commission. Any such forward-looking statements are not guarantees of future performance and actual results, developments and business decisions may differ from those contemplated by such forward-looking statements. The Company disclaims any duty to update any forward-looking statement, all of which are expressly qualified by the foregoing, other than as required by law.
About the Company
Hubbell Incorporated is a leading manufacturer of utility and electrical solutions enabling customers to operate critical infrastructure safely, reliably and efficiently. With 2025 revenues of $5.8 billion, Hubbell solutions electrify economies and energize communities. The corporate headquarters is located in Shelton, CT.
References to "adjusted" operating measures exclude the impact of certain costs, gains or losses. Management believes these adjusted operating measures provide useful information regarding our underlying performance from period to period and an understanding of our results of operations without regard to items we do not consider a component of our core operating performance. Adjusted operating measures are non-GAAP measures, and include adjusted operating income, adjusted operating margin, adjusted net income attributed to Hubbell Incorporated, adjusted net income available to common shareholders, adjusted earnings per diluted share, and Adjusted EBITDA. These non-GAAP measures exclude, where applicable:
Amortization of all intangible assets associated with our business acquisitions, including inventory step-up amortization associated with those acquisitions. The intangible assets associated with our business acquisitions arise from the allocation of the purchase price using the acquisition method of accounting in accordance with Accounting Standards Codification 805, “Business Combinations.” These assets consist primarily of customer relationships, developed technology, trademarks and tradenames, and patents, as reported in Note 6—Goodwill and Other Intangible Assets, under the heading “Total Definite-Lived Intangibles,” within the Company’s audited Consolidated Financial Statements set forth in its Annual Report on Form 10-K for fiscal year ended December 31, 2025. The Company believes that the exclusion of these non-cash expenses (i) enhances management’s and investors’ ability to analyze underlying business performance, (ii) facilitates comparisons of our financial results over multiple periods, and (iii) provides more relevant comparisons of our results with the results of other companies as the amortization expense associated with these assets may fluctuate significantly from period to period based on the timing, size, nature, and number of acquisitions. Although we exclude amortization of these acquired intangible assets and inventory step-up from our non-GAAP results, we believe that it is important for investors to understand that revenue generated, in part, from such intangibles is included within revenue in determining adjusted net income attributable to Hubbell Incorporated. Transaction, integration, and separation costs associated with our business acquisitions and divestitures. The effect that acquisitions and divestitures may have on our results can fluctuate significantly based on the timing, size, and number of transactions, and therefore result in significant volatility in the costs to complete transactions and integrate or separate the businesses. Transaction costs are primarily professional services and other fees incurred to complete the transactions recognized within operating income, as well as $7.2 million of bridge financing costs in connection with the transactions recognized within interest expense during the second quarter of 2026. Integration and separation costs are the internal and external incremental costs directly relating to these activities for the acquired or divested business. The acquisition and integration of NSI, DMC Power and the acquisitions and disposition completed by the Company in the fourth quarter of 2023 resulted in a significant increase in transaction, integration and separation costs. As a result, we believe excluding such costs relating to these transactions provides useful and more comparable information for investors to better assess our operating performance from period to period.Gains or losses on disposition of a business. The Company excludes these gains or losses because we believe they enhance management's and investors' ability to analyze underlying business performance and facilitates comparisons of our financial results over multiple periods. In the second quarter of 2025 the Company recognized a $0.4 million pre-tax loss on the disposition of a product line in the Electrical Solutions segment.Income tax effects of the above adjustments, which are calculated using the statutory tax rate, taking into consideration the nature of the item and the relevant taxing jurisdiction, unless otherwise noted. Adjusted EBITDA is a non-GAAP measure that excludes the items noted above and also excludes the Other income (expense), net, Interest expense, net, and Provision for income taxes captions of the Condensed Consolidated Statement of Income, as well as depreciation and amortization expense.
Net debt (defined as total debt less cash and investments) to total capital is a non-GAAP measure that we believe is a useful measure for evaluating the Company's financial leverage and the ability to meet its funding needs.
Free cash flow is a non-GAAP measure that we believe provides useful information regarding the Company's ability to generate cash without reliance on external financing. In addition, management uses free cash flow to evaluate the resources available for investments in the business, strategic acquisitions and further strengthening the balance sheet.
In connection with our restructuring and related actions, we have incurred restructuring costs as defined by U.S. GAAP, which are primarily severance and employee benefits, asset impairments, accelerated depreciation, as well as facility closure, contract termination and certain pension costs that are directly related to restructuring actions. We also incur restructuring-related costs, which are costs associated with our business transformation initiatives, including the consolidation of back-office functions and streamlining our processes, and certain other costs and gains associated with restructuring actions. We refer to these costs on a combined basis as "restructuring and related costs", which is a non-GAAP measure.
Organic net sales, a non-GAAP measure, represents Net sales according to U.S. GAAP, less Net sales from acquisitions and divestitures during the first twelve months of ownership or divestiture, respectively, less the effect of fluctuations in Net sales from foreign currency exchange. The period-over-period effect of fluctuations in Net sales from foreign currency exchange is calculated as the difference between local currency Net sales of the prior period translated at the current period exchange rate as compared to the same local currency Net sales translated at the prior period exchange rate. We believe this measure provides management and investors with a more complete understanding of the underlying operating results and trends of established, ongoing operations by excluding the effect of acquisitions, dispositions and foreign currency, as these activities can obscure underlying trends. When comparing Net sales growth between periods excluding the effects of acquisitions, business dispositions and currency exchange rates, those effects are different when comparing results for different periods. For example, because Net sales from acquisitions are considered inorganic from the date we complete an acquisition through the end of the first year following the acquisition, Net sales from such acquisitions are reflected as organic net sales thereafter.
There are limitations to the use of non-GAAP measures. Non-GAAP measures do not present complete financial results. We compensate for this limitation by providing a reconciliation between our non-GAAP financial measures and the respective most directly comparable financial measure calculated and presented in accordance with GAAP. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies’ non-GAAP financial measures having the same or similar names. These financial measures should not be considered in isolation from, as substitutes for, or alternative measures of, reported GAAP financial results, and should be viewed in conjunction with the most comparable GAAP financial measures and the provided reconciliations thereto. We believe, however, that these non-GAAP financial measures, when viewed together with our GAAP results and related reconciliations, provide a more complete understanding of our business. We strongly encourage investors to review our consolidated financial statements and publicly filed reports in their entirety and not rely on any single financial measure.
Reconciliations of each of these non-GAAP measures to the most directly comparable GAAP measure can be found in the tables below. When we provide our expectations for organic net sales, adjusted effective tax rate, adjusted diluted EPS and free cash flow on a forward-looking basis, a reconciliation of the differences between the non-GAAP expectations and the corresponding GAAP measures (expected net sales, effective tax rate, diluted EPS and net cash flows provided by operating activities) generally is not available without unreasonable effort due to potentially high variability, complexity and low visibility as to the items that would be excluded from the GAAP measure in the relevant future period, such as unusual gains and losses, fluctuations in foreign currency exchange rates, the impact and timing of potential acquisitions and divestitures, certain financing costs, and other structural changes or their probable significance. The variability of the excluded items may have a significant, and potentially unpredictable, impact on our future GAAP results.
HUBBELL INCORPORATED
Condensed Consolidated Statement of Income
(unaudited)
(in millions, except per share amounts)
Three Months Ended September 30, Nine Months Ended September 30, 2026 2025 2026 2025 Net sales$ 1,872.5 $ 1,502.4 $ 5,101.0 $ 4,351.9 Cost of goods sold 1,184.3 958.1 3,294.5 2,812.9 Gross profit 688.2 544.3 1,806.5 1,539.0 Selling & administrative expenses 279.5 213.7 785.4 641.7 Operating income 408.7 330.6 1,021.1 897.3 Operating income as a % of Net sales 21.8 % 22.0 % 20.0 % 20.6 %Loss on disposition of business — — — (0.4 )Interest expense, net (58.0 ) (13.6 ) (119.1 ) (41.9 )Other expense, net (5.4 ) (5.9 ) (16.6 ) (17.4 )Total other expense, net (63.4 ) (19.5 ) (135.7 ) (59.7 )Income before income taxes 345.3 311.1 885.4 837.6 Provision for income taxes 80.7 54.4 195.6 170.9 Net income 264.6 256.7 689.8 666.7 Less: Net income attributable to noncontrolling interest (2.1 ) (1.2 ) (5.1 ) (3.8 )Net income attributable to Hubbell Incorporated$ 262.5 $ 255.5 $ 684.7 $ 662.9 Earnings Per Share: Basic earnings per share$ 4.96 $ 4.80 $ 12.92 $ 12.42 Diluted earnings per share $ 4.94 $ 4.77 $ 12.86 $ 12.35 HUBBELL INCORPORATED
Condensed Consolidated Balance Sheet
(unaudited)
(in millions)
September 30, 2026 December 31, 2025ASSETS Cash and cash equivalents$ 334.5 $ 482.5 Short-term investments 20.5 15.4 Accounts receivable (net of allowances of $19.4 and $13.9) 1,228.8 856.9 Inventories, net 1,327.2 1,083.8 Other current assets 174.5 155.4 TOTAL CURRENT ASSETS 3,085.5 2,594.0 Property, plant and equipment, net 913.2 841.2 Investments 100.5 98.4 Goodwill 4,368.2 3,060.8 Other intangible assets, net 3,143.4 1,394.3 Other long-term assets 287.5 240.1 TOTAL ASSETS$ 11,898.3 $ 8,228.8 LIABILITIES AND EQUITY Short-term debt and current portion of long-term debt$ 613.8 $ 289.1 Accounts payable 662.4 570.5 Accrued salaries, wages and employee benefits 161.2 115.4 Accrued insurance 83.4 83.0 Other accrued liabilities 497.8 450.7 TOTAL CURRENT LIABILITIES 2,018.6 1,508.7 Long-term debt 4,506.4 2,036.3 Deferred tax liabilities 819.1 420.1 Other non-current liabilities 436.4 405.8 TOTAL LIABILITIES 7,780.5 4,370.9 Hubbell Incorporated Shareholders' Equity 4,105.6 3,847.9 Noncontrolling interest 12.2 10.0 TOTAL EQUITY 4,117.8 3,857.9 TOTAL LIABILITIES AND EQUITY$ 11,898.3 $ 8,228.8 HUBBELL INCORPORATED
Condensed Consolidated Statement of Cash Flows
(unaudited)
(in millions)
Nine Months Ended September 30, 2026 2025 Cash Flows From Operating Activities Net income attributable to Hubbell$ 684.7 $ 662.9 Depreciation and amortization 220.1 144.6 Deferred income taxes (3.6) (8.2)Stock-based compensation expense 30.0 27.0 Loss on disposition of business — 0.4 Loss on sale of assets 2.2 0.9 Changes in assets and liabilities, net of acquisitions Accounts receivable, net (253.1) (147.7)Inventories, net (148.4) (37.9)Accounts payable 79.5 (10.9)Current liabilities 36.7 (38.8)Other assets and liabilities, net 3.0 11.2 Contributions to defined benefit pension plans (1.4) (21.4)Other, net 9.3 0.2 Net cash provided by operating activities 659.0 582.3 Cash Flows From Investing Activities Capital expenditures (119.8) (96.4)Acquisition of businesses, net of cash acquired (3,005.7) (129.1)Proceeds from disposal of business, net of cash — 2.6 Purchases of available-for-sale investments (15.5) (17.6)Proceeds from sales of available-for-sale investments 11.3 12.7 Other, net 9.9 12.4 Net cash used in investing activities (3,119.8) (215.4)Cash Flows From Financing Activities Issuance of long-term debt 2,787.5 — Borrowing of short-term debt, net 25.2 426.3 Payment of dividends (225.4) (211.1)Debt issuance costs (21.4) — Repurchase of common shares (203.5) (225.0)Other, net (43.3) (32.8) Net cash provided by (used in) financing activities 2,319.1 (42.6)Effect of foreign exchange rate changes on cash and cash equivalents (2.1) 13.0 (Decrease) increase in cash, cash equivalents and restricted cash (143.8) 337.3 Cash and cash equivalents, beginning of year 482.5 329.1 Restricted cash, included in other assets, beginning of year 1.8 2.5 Less: Restricted cash, included in other assets 6.0 2.1 Cash and cash equivalents, end of quarter$ 334.5 $ 666.8 HUBBELL INCORPORATED
Earnings Per Share
(unaudited)
(in millions, except per share amounts)
Three Months Ended September 30, Nine Months Ended September 30, 2026 2025 Change 2026 2025 ChangeNet income attributable to Hubbell (GAAP measure)$ 262.5 $ 255.5 3 % $ 684.7 $ 662.9 3 %Amortization of acquisition-related intangible assets 62.2 24.7 134.7 74.6 Transaction, integration & separation costs 5.9 3.1 37.4 4.2 Loss on disposition of business — — — 0.4 Subtotal$ 330.6 $ 283.3 $ 856.8 $ 742.1 Income tax effects 16.3 6.7 38.9 18.8 Adjusted net income$ 314.3 $ 276.6 14 % $ 817.9 $ 723.3 13 % Numerator: Net income attributable to Hubbell (GAAP measure)$ 262.5 $ 255.5 $ 684.7 $ 662.9 Less: Earnings allocated to participating securities (0.4) (0.4) (0.9) (1.1) Net income available to common shareholders (GAAP measure) [a]$ 262.1 $ 255.1 3 % $ 683.8 $ 661.8 3 % Adjusted net income $ 314.3 $ 276.6 $ 817.9 $ 723.3 Less: Earnings allocated to participating securities (0.4) (0.4) (1.1) (1.2) Adjusted net income available to common shareholders [b]$ 313.9 $ 276.2 14 % $ 816.8 $ 722.1 13 % Denominator: Average number of common shares outstanding [c] 52.9 53.1 52.9 53.3 Potential dilutive shares 0.2 0.3 0.2 0.3 Average number of diluted shares outstanding [d] 53.1 53.4 53.1 53.6 Earnings per share (GAAP measure): Basic [a] / [c]$ 4.96 $ 4.80 $ 12.92 $ 12.42 Diluted [a] / [d]$ 4.94 $ 4.77 4 % $ 12.86 $ 12.35 4 % Adjusted earnings per diluted share [b] / [d]$ 5.91 $ 5.17 14 % $ 15.37 $ 13.48 14 % HUBBELL INCORPORATED
Segment Information
(unaudited)
(in millions)
Three Months Ended September 30, 2026 2025 ChangeNet income$ 264.6 $ 256.7 3 %Provision for income taxes 80.7 54.4 Interest expense, net 58.0 13.6 Other expense, net 5.4 5.9 Depreciation and amortization 92.3 49.4 Loss on disposition of business — — Transaction and integration costs in operating income 5.9 3.1 Subtotal 242.3 126.4 Adjusted EBITDA $ 506.9 $ 383.1 32 % Nine Months Ended September 30, 2026 2025 ChangeNet income$ 689.8 $ 666.7 3 %Provision for income taxes 195.6 170.9 Interest expense, net 119.1 41.9 Other expense, net 16.6 17.4 Depreciation and amortization 220.1 144.6 Loss on disposition of business — 0.4 Transaction and integration costs in operating income 30.2 4.2 Subtotal 581.6 379.4 Adjusted EBITDA $ 1,271.4 $ 1,046.1 22 % HUBBELL INCORPORATED
Restructuring and Related Costs Included in Consolidated Results
(unaudited)
(in millions, except per share amounts)
Three Months Ended September 30, 2026 2025 2026 2025 2026 2025 Costs of goods sold S&A expense TotalRestructuring costs (GAAP Measure)$ 0.4 $ 3.8 $ 0.3 $ 1.9 $ 0.7 $ 5.7 Restructuring related costs 0.7 0.4 1.3 0.6 2.0 1.0 Restructuring and related costs (non-GAAP measure) $ 1.1 $ 4.2 $ 1.6 $ 2.5 $ 2.7 $ 6.7 Nine Months Ended September 30, 2026 2025 2026 2025 2026 2025 Costs of goods sold S&A expense TotalRestructuring costs (GAAP Measure)$ 6.5 $ 8.2 $ 1.0 $ 2.0 $ 7.5 $ 10.2 Restructuring related costs 2.6 2.9 3.2 0.4 5.8 3.3 Restructuring and related costs (non-GAAP measure) $ 9.1 $ 11.1 $ 4.2 $ 2.4 $ 13.3 $ 13.5 Three Months Ended September 30, Nine Months Ended September 30, 2026 2025 2026 2025Restructuring and related costs included in Cost of goods sold (non-GAAP measure) Utility Solutions$ 0.4 $ 1.8 $ 1.3 $ 5.9 Electrical Solutions 0.7 2.4 7.8 5.2 Total$ 1.1 $ 4.2 $ 9.1 $ 11.1 Restructuring and related costs included in Selling & administrative expenses (non-GAAP measure) Utility Solutions$ — $ 0.7 $ — $ 0.8 Electrical Solutions 1.6 1.8 4.2 1.6 Total$ 1.6 $ 2.5 $ 4.2 $ 2.4 Impact on Income before income taxes (non-GAAP measure)$ 2.7 $ 6.7 $ 13.3 $ 13.5 Impact on Net income available to Hubbell common shareholders (non-GAAP measure) 2.1 5.1 10.1 10.3 Impact on Diluted earnings per share (non-GAAP measure)$ 0.04 $ 0.09 $ 0.19 $ 0.19 HUBBELL INCORPORATED
Additional Non-GAAP Financial Measures
(unaudited)
(in millions)
Ratios of Total Debt to Total Capital and Net Debt to Total Capital
September 30, 2026 December 31, 2025Total Debt (GAAP measure)$ 5,120.2 $ 2,325.4 Total Hubbell Shareholders’ Equity 4,105.6 3,847.9 Total Capital$ 9,225.8 $ 6,173.3 Total Debt to Total Capital (GAAP measure) 55 % 38 %Less: Cash and Investments$ 455.5 $ 596.3 Net Debt (non-GAAP measure)$ 4,664.7 $ 1,729.1 Net Debt to Total Capital (non-GAAP measure) 51 % 28 % Free Cash Flow Reconciliation
Free Cash Flow Reconciliation Flow Reconciliation
Three Months Ended September 30, Nine Months Ended September 30, 2026 2025 2026 2025 Net cash provided by operating activities (GAAP measure)$ 322.6 $ 284.3 $ 659.0 $ 582.3 Less: Capital expenditures (42.2) (30.5) (119.8) (96.4)Free cash flow (non-GAAP measure)$ 280.4 $ 253.8 $ 539.2 $ 485.9
Mercedes-Benz kvůli slabé poptávce v Číně a vyšším nákladům snížil celoroční výhled: provozní zisk má stagnovat a zisková marže bez zahrnutí mimořádných vlivů klesnout na 2–3 % z dříve očekávaných 3–5 %.
Přestože Mercedes-Benz vykázal ve třetím čtvrtletí výrazně vyšší provozní zisk než před rokem, investoři se soustředili především na horší výhled pro celý rok. Automobilka totiž nově počítá jen se stagnací zisku a nižšími maržemi, což potvrzuje, že tlak na evropské výrobce aut zůstává silný. Slabá Čína, vysoké výrobní náklady a sílící konkurence nutí tradiční německé značky přehodnocovat své dosavadní strategie.
Německý výrobce luxusních automobilů Mercedes-Benz zhoršil celoroční výhled kvůli obtížným podmínkám v Číně a rostoucím nákladům. Oznámila to dnes firma. Automobilka nyní předpokládá, že její provozní zisk letos zůstane beze změny, zatímco dříve počítala s jeho výrazným růstem. Akcie podniku na zhoršení výhledu reagovaly poklesem.
Firma dnes rovněž uvedla, že ve třetím čtvrtletí její provozní zisk podle předběžných údajů dosáhl 1,77 miliardy eur (zhruba 43 miliard Kč). Výrazně tak vzrostl ze 750 milionů eur před rokem. Tehdy však výsledky podniku zasáhly rozsáhlé mimořádné náklady související se snižováním počtu zaměstnanců a právními spory, upozornila agentura DPA.
Společnost Mercedes-Benz dnes rovněž předpověděla, že její zisková marže bez zahrnutí mimořádných vlivů bude letos činit dvě až tři procenta. Dříve celoroční marži odhadovala na tři až pět procent. "Kromě čím dál obtížnějších podmínek v Číně očekává skupina Mercedes-Benz vyšší náklady ve čtvrtém čtvrtletí," píše se v dnešní zprávě.
Automobilka již minulý měsíc uvedla, že její výroba v Německu není z mezinárodního hlediska konkurenceschopná, a to zejména kvůli vysokým nákladům na pracovní sílu. Její výrobní ředitel Michael Schiebe při zářijovém setkání se zaměstnanci dokonce varoval, že dva německé závody by mohly ukončit provoz.
Německý automobilový průmysl se v poslední době potýká s řadou problémů, včetně vysokých nákladů, nadbytečných kapacit, rostoucí čínské konkurence nebo amerických cel. Ke zhoršení výhledů již letos přikročily i německé automobilky Volkswagen a BMW.
Dozorčí rada Volkswagenu, jehož součástí je rovněž Škoda Auto, minulý měsíc schválila největší restrukturalizační plán v historii podniku. Volkswagen mimo jiné plánuje zrušit do konce desetiletí po celém světě až 100.000 pracovních míst či omezit počet modelů. Na konci loňského roku koncern zaměstnával kolem 663.000 lidí.
Podle českého odborového svazu KOVO požaduje Volkswagen rovněž zmrazení mezd zaměstnanců Škody Auto do roku 2030. Škoda Auto patří mezi největší zaměstnavatele v České republice. Ve svých třech českých výrobních závodech v Mladé Boleslavi, Kvasinách a Vrchlabí zaměstnává zhruba 36.500 lidí včetně agenturních pracovníků.
CoreWeave, Inc. (Nasdaq: CRWV), The Essential Cloud for AI™, today announced an expansion of its global AI cloud platform, bringing new computing capacity online in Denmark and extending its Global AI Network into the Middle East and Asia Pacific. The expansion strengthens CoreWeave’s ability to deliver the performance, reliability, and connectivity customers need to build and scale AI workloads across international markets.
As AI workloads move into production across more industries and geographies, customers need computing capacity where they operate and the ability to move large volumes of data securely and efficiently between regions. CoreWeave is expanding both capabilities as part of its fully integrated, purpose-built AI cloud platform, reducing the infrastructure complexity that can slow AI development and deployment.
With this expansion, CoreWeave is building the first global AI backbone network, purpose-built for AI workloads, at Petabit-scale, that connects locations in North America, Europe, the Middle East, and Asia Pacific.
“Our customers need more than access to computing capacity. They need infrastructure that performs reliably at scale and the ability to move data and workloads wherever their business requires,” said Sachin Jain, chief operating officer of CoreWeave. “We’re expanding our global infrastructure and the network connecting it together, so customers can focus on building and improving AI rather than managing the complexity underneath it.”
CoreWeave has brought the majority of its planned 22.5 megawatts (MW) of IT capacity online at atNorth’s DEN01 data center in Copenhagen, marking its first deployment in Denmark. DEN01 has a heat reuse agreement in place to supply surplus heat to the district heating network, reducing reliance on alternative heating sources and contributing to Denmark’s green transition.
Accelerated by NVIDIA Blackwell systems connected with NVIDIA Quantum-X800 InfiniBand, the facility expands CoreWeave’s European infrastructure footprint to nine data centers across five geographies, including the United Kingdom, Spain, Sweden, and Norway.
“Modern workloads demand digital infrastructure that is not only high performance, but also energy efficient and responsibly operated, “said Eyjólfur Magnús Kristinsson, CEO at atNorth. “By partnering with atNorth, CoreWeave gains access to DEN01’s infrastructure, designed for GPU-intensive processing, while supporting renewable energy development through power purchase agreements and helping warm local homes through heat reuse, contributing to the green transition.”
To connect its growing international infrastructure footprint, CoreWeave is extending its global AI network backbone with new points of presence in the United Arab Emirates, India, Indonesia, Singapore, Australia, Korea and Japan, beginning later in the fourth quarter of 2026 and extending to a full loop in mid-2027. The expansion will extend CoreWeave’s existing network across North America and Europe into four continents, providing customers with more direct connectivity to its AI cloud platform.
Purpose-built for AI workloads, CoreWeave’s backbone combines multiple 400 gigabit-per-second connections at each point of presence, hardware-based MACsec encryption to protect data in transit, and redundant network paths designed to maintain performance and reliability across regions. Together, these capabilities enable customers to move large datasets and access computing infrastructure without sacrificing the speed or security their workloads require.
The expansion follows CoreWeave’s recent announcements in Indonesia and India, reflecting continued investment in the infrastructure needed to support AI development and deployment globally. CoreWeave operated 51 data centers worldwide with more than 1.5 gigawatts of active power as of June 30, 2026 and had approximately 4.2 gigawatts of contracted power as of its August 11, 2026 earnings call.
CoreWeave consistently delivers industry-leading performance, demonstrated by record-breaking MLPerf benchmark results in inference and training and its position as the only AI cloud to earn the top Platinum ranking in SemiAnalysis ClusterMAX™ three times in a row.
About CoreWeave
CoreWeave is The Essential Cloud for AI®. Built for pioneers by pioneers, CoreWeave delivers a fully integrated platform of technology and teams that enables innovators to move at the pace of innovation, building and scaling AI with confidence. Trusted by 9 of the 10 leading foundation model providers, CoreWeave serves as a force multiplier by combining superior infrastructure performance with deep technical expertise to accelerate human discovery. Established in 2017, CoreWeave completed its public listing on Nasdaq (CRWV) in March 2025.
About atNorth
atNorth is a leading Nordic data center company that offers cost-effective, scalable high-density colocation and built-to-suit services trusted by industry-leading organizations.
With sustainability at its core, atNorth’s data centers run on renewable energy resources and support circular economy principles. All atNorth sites leverage innovative design, power efficiency, and intelligent operations to provide long-term infrastructure and flexible colocation deployments.
atNorth is headquartered in Reykjavik, Iceland and operates seven data centers in strategic locations across the Nordics, as well four mega sites under development across Kouvola Finland, Ølgod, Denmark, Sollefteå, Sweden and Haugaland, Norway. The business also has an additional metro site under construction in Stockholm, Sweden.
For more information, visit atNorth.com or follow atNorth on LinkedIn.
View source version on businesswire.com: https://www.businesswire.com/news/home/20261027105771/en/
OptimizeRx zpřístupní svůj ověřený reklamní inventář v EHR a e‑předepisování klientům platformy PulsePoint. Integrace má rozšířit programatický reklamní dosah PulsePointu v EHR na více než 1 milion NPI.
Latest DSP integration expands buyer access to OptimizeRx point of care inventory through existing programmatic workflows
| Source:
OptimizeRx Corporation
WALTHAM, Mass., Oct. 27, 2026 (GLOBE NEWSWIRE) -- OptimizeRx Corp. (the “Company”) (Nasdaq: OPRX), a healthcare technology company helping life sciences companies reach and engage healthcare professionals (HCPs) and patients at critical decision points, today announced a new partnership with PulsePoint, an award-winning programmatic platform advancing omnichannel healthcare marketing, that will make OptimizeRx’s authenticated electronic health record (EHR) and e-prescribing inventory available to PulsePoint clients.
The integration builds on both companies’ efforts to make HCP media more connected. OptimizeRx is expanding programmatic access to point of care inventory that historically was only purchased through direct or specialized channels, while PulsePoint brings that inventory and 250,000 incremental NPIs into its platform designed to coordinate HCP media activation, optimization, and reporting. Together, the companies are making point of care easier to incorporate into the broader media plan rather than managing it as a separate buy.
Reducing Fragmentation Across the HCP Media Plan
The partnership helps close a longstanding gap in omnichannel HCP marketing. Digital HCP media can build awareness and consideration over time. The EHR adds a lower-funnel layer closer to prescribing, delivering relevant information within the clinical workflow. Yet EHR media has historically been planned and purchased separately from other digital channels. By bringing OptimizeRx inventory into PulsePoint, marketers can more easily extend broader HCP campaigns into EHR and e-prescribing workflows within a connected programmatic strategy.
“Omnichannel gets harder when high-value channels live in separate buying environments,” said Stephen Silvestro, CEO of OptimizeRx. “Our work with PulsePoint removes a layer of fragmentation, making it easier for brands and agencies to put point of care to work alongside the rest of their media investments.”
“OptimizeRx extends the scale of in-workflow EHR engagement we can offer clients to fuel their comprehensive omnichannel HCP strategies,” said Keith Matt, Group Vice President of Sales at PulsePoint. “Paired with our broader EHR footprint and real-time activation, optimization, and reporting, clients get more reach, more control, and clearer visibility across every campaign.”
Extending Programmatic Reach at the Point of Care
PulsePoint is among the first DSPs to integrate OptimizeRx’s authenticated EHR inventory since OptimizeRx opened its network to programmatic buying in June 2026. The integration will give PulsePoint clients access to incremental NPIs through OptimizeRx’s point of care network and bring PulsePoint’s programmatic EHR reach to over 1 million NPIs. OptimizeRx’s authenticated EHR inventory is expected to be available to advertisers using PulsePoint in November 2026.
About OptimizeRx
OptimizeRx is a leading healthcare technology company that’s redefining how life science brands connect with patients and healthcare providers. Our platform combines innovative AI-driven tools like the Dynamic Audience Activation Platform (DAAP) and Micro-Neighborhood® Targeting (MNT) to deliver timely, relevant, and hyper-local engagement. By bridging the gap between HCP and DTC strategies, we empower brands to create synchronized marketing solutions that drive faster treatment decisions and improved patient outcomes.
Our commitment to privacy-safe, patient-centric technology ensures that every interaction is designed to make a meaningful impact, delivering life-changing therapies to the right patients at the right time. Headquartered in Waltham, Massachusetts, OptimizeRx partners with some of the world’s leading pharmaceutical and life sciences companies to transform the healthcare landscape and create a healthier future for all.
For more information, follow the Company on X or LinkedIn, or visit www.optimizerx.com.
About PulsePoint
PulsePoint, a division of Internet Brands, is an award-winning technology company that uses real-world data in real time to optimize campaign performance and revolutionize health decision-making. Leveraging proprietary datasets and methodology, PulsePoint helps brands engage healthcare professionals and consumer populations with an unprecedented level of accuracy to deliver unparalleled results to the clients it serves. For more information, visit pulsepoint.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "will”, "is", “brings”, "helps", "removes", "extends", "improve" or other similar words and expressions are intended to identify these forward-looking statements. All statements in this press release that reflect the Company's expectations, assumptions, projections, beliefs or opinions about the future, other than statements of historical fact, are forward-looking statements, including, without limitation, statements relating to the ability to make HCP media more connected, the Company’s efforts to make point of care easier to incorporate into the broader media plan and remove fragmentation, the ability to close a longstanding gap in omnichannel HCP marketing, the ability of digital HCP media to build awareness and consideration over time, the ability of marketers to more easily extend broader HCP campaigns into EHR and e-prescribing workflows within a connected programmatic strategy, the Company’s ability to remove fragmentation making it easier for brands and agencies to put point of care to work alongside other media investments, the ability of clients to get more reach, more control, or clearer visibility across every campaign, and the ability to increase PulsePoint clients’ programmatic EHR reach to over 1 million NPIs. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon the Company’s current expectations and involve assumptions regarding the Company's business, the economy, and other future conditions that may never materialize or may prove to be incorrect. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted, or quantified. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties including, but not limited to, the effect of government regulation, seasonal trends, dependence on a concentrated group of customers, cybersecurity incidents that could disrupt operations, the ability to keep pace with growing and evolving technology, the ability to maintain contracts with eRx platforms and EHR networks, competition, and other factors discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, and in other filings the Company has made and may make with the SEC in the future. One should not place undue reliance on these forward-looking statements, which speak only as of the date on which they were made. The Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as may be required by law.
OptimizeRx Contact
Jennifer Dinkel, SVP Marketing
[email protected]
PulsePoint Media Contact
Alia Paavola
[email protected]
Ředitel společnosti PagSeguro Digital Alexandre Magnani během října prodal celkem 550 000 akcií PAGS, z toho 22 706 akcií za průměrnou cenu 11,30 USD za akcii.
PagSeguro Digital Ltd. (NYSE:PAGS – Get Free Report) Director Alexandre Magnani sold 22,706 shares of PagSeguro Digital stock in a transaction dated Thursday, October 22nd. The stock was sold at an average price of $11.30, for a total value of $256,577.80. Following the transaction, the director owned 84,684 shares of the company’s stock, valued at $956,929.20. The trade was a 21.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Alexandre Mr Magnani also recently made the following trade(s):
On Friday, October 23rd, Alexandre Magnani sold 27,294 shares of PagSeguro Digital stock. The stock was sold at an average price of $11.43, for a total value of $311,970.42. On Tuesday, October 20th, Alexandre Magnani sold 47,100 shares of PagSeguro Digital stock. The stock was sold at an average price of $11.22, for a total value of $528,462.00. On Monday, October 19th, Alexandre Magnani sold 16,209 shares of PagSeguro Digital stock. The shares were sold at an average price of $11.18, for a total value of $181,216.62. On Friday, October 16th, Alexandre Magnani sold 1,014 shares of PagSeguro Digital stock. The shares were sold at an average price of $11.18, for a total value of $11,336.52. On Monday, October 12th, Alexandre Magnani sold 35,677 shares of PagSeguro Digital stock. The stock was sold at an average price of $11.20, for a total value of $399,582.40. On Friday, October 9th, Alexandre Magnani sold 300,000 shares of PagSeguro Digital stock. The stock was sold at an average price of $10.95, for a total value of $3,285,000.00. On Wednesday, October 7th, Alexandre Magnani sold 100,000 shares of PagSeguro Digital stock. The stock was sold at an average price of $10.60, for a total value of $1,060,000.00. PagSeguro Digital Trading Down 25.2% PAGS opened at $8.56 on Tuesday. PagSeguro Digital Ltd. has a 1-year low of $7.50 and a 1-year high of $12.32. The stock’s fifty day simple moving average is $9.76 and its 200 day simple moving average is $9.85. The stock has a market cap of $2.39 billion, a PE ratio of 5.99, a price-to-earnings-growth ratio of 0.46 and a beta of 1.27.
PagSeguro Digital (NYSE:PAGS – Get Free Report) last released its quarterly earnings data on Tuesday, August 11th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. PagSeguro Digital had a net margin of 10.46% and a return on equity of 16.36%. The firm had revenue of $942.97 million during the quarter, compared to analysts’ expectations of $1 billion. Equities analysts forecast that PagSeguro Digital Ltd. will post 1.65 earnings per share for the current year. PagSeguro Digital Increases Dividend The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th were given a $0.28 dividend. The ex-dividend date of this dividend was Wednesday, September 16th. This is a boost from PagSeguro Digital’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a dividend yield of 13.1%. PagSeguro Digital’s payout ratio is currently 78.32%.
Analyst Upgrades and Downgrades Several brokerages recently commented on PAGS. Weiss Ratings raised shares of PagSeguro Digital from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, October 13th. UBS Group decreased their price target on shares of PagSeguro Digital from $12.50 to $11.00 and set a “buy” rating on the stock in a research note on Tuesday, September 29th. Bank of America downgraded shares of PagSeguro Digital from a “buy” rating to a “neutral” rating and set a $10.00 price objective for the company. in a research report on Wednesday, July 15th. Finally, Jefferies Financial Group started coverage on shares of PagSeguro Digital in a research report on Thursday, July 23rd. They set a “hold” rating and a $10.40 price objective for the company. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, PagSeguro Digital currently has a consensus rating of “Hold” and an average target price of $11.08.
Get Our Latest Report on PagSeguro Digital
Institutional Inflows and Outflows Large investors have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. lifted its holdings in shares of PagSeguro Digital by 38.1% in the third quarter. SBI Securities Co. Ltd. now owns 4,471 shares of the company’s stock worth $40,000 after buying an additional 1,233 shares in the last quarter. First Trust Advisors LP grew its stake in PagSeguro Digital by 10.9% during the first quarter. First Trust Advisors LP now owns 18,678 shares of the company’s stock valued at $187,000 after acquiring an additional 1,835 shares in the last quarter. Royal Bank of Canada grew its stake in PagSeguro Digital by 3.7% during the first quarter. Royal Bank of Canada now owns 56,092 shares of the company’s stock valued at $562,000 after acquiring an additional 1,998 shares in the last quarter. Amundi grew its stake in PagSeguro Digital by 6.0% during the first quarter. Amundi now owns 54,586 shares of the company’s stock valued at $547,000 after acquiring an additional 3,067 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its holdings in PagSeguro Digital by 86.7% during the 1st quarter. Meeder Asset Management Inc. now owns 10,308 shares of the company’s stock worth $103,000 after acquiring an additional 4,786 shares during the period. Institutional investors own 45.88% of the company’s stock.
(Get Free Report)
PagSeguro Digital Ltd., operating under the PagBank brand, is a Brazilian financial technology company that provides payment and banking services to small and medium-sized businesses, independent professionals, and consumers. The company is part of the Universo Online (UOL) group and serves customers primarily in Brazil.
PagSeguro offers point-of-sale payment terminals and mobile payment solutions that allow merchants to accept credit, debit, contactless, and other electronic payments.
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Seagate Technology Holdings PLC (NASDAQ:STX – Get Free Report) EVP James Lee sold 547 shares of the firm’s stock in a transaction that occurred on Friday, October 23rd. The shares were sold at an average price of $642.14, for a total value of $351,250.58. Following the completion of the sale, the executive vice president directly owned 1,037 shares in the company, valued at $665,899.18. This trade represents a 34.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
James Ci Lee also recently made the following trade(s):
On Monday, August 24th, James Lee sold 9,013 shares of Seagate Technology stock. The stock was sold at an average price of $794.84, for a total value of $7,163,892.92. On Friday, August 21st, James Lee sold 3,939 shares of Seagate Technology stock. The stock was sold at an average price of $849.35, for a total value of $3,345,589.65. On Thursday, July 30th, James Lee sold 694 shares of Seagate Technology stock. The stock was sold at an average price of $877.45, for a total value of $608,950.30. STX opened at $644.21 on Tuesday. The business has a 50 day moving average of $816.49 and a 200-day moving average of $680.95. The stock has a market capitalization of $146.49 billion, a price-to-earnings ratio of 42.57 and a beta of 2.06. The company has a current ratio of 1.67, a quick ratio of 1.17 and a debt-to-equity ratio of 1.56. Seagate Technology Holdings PLC has a 1-year low of $217.67 and a 1-year high of $1,145.00.
Seagate Technology (NASDAQ:STX – Get Free Report) last announced its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.10 by $0.61. The business had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.50 billion. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. Seagate Technology’s revenue was up 48.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.59 earnings per share. As a group, sell-side analysts anticipate that Seagate Technology Holdings PLC will post 35.79 earnings per share for the current year. Key Stories Impacting Seagate Technology Here are the key news stories impacting Seagate Technology this week:
Positive Sentiment: Analysts expect Seagate to potentially beat its fiscal first-quarter 2027 outlook, supported by strong hard-disk-drive demand, higher pricing, and growth in its Mozaic technology. The company’s guidance calls for earnings per share of $7.10 to $7.50. Seagate Technology Q1 preview: Analysts project earnings beat amid strong HDD demand Positive Sentiment: Seagate announced expanded interoperability between its high-capacity HAMR and SMR storage technologies and Broadcom’s systems, with validation at Microsoft Azure. The development could help hyperscale cloud and AI customers scale storage more efficiently. Seagate Simplifies High-Capacity Storage Scaling for AI and Cloud Infrastructure Positive Sentiment: Cantor Fitzgerald maintained an “overweight” rating despite reducing its price target to $1,000 from $1,300. The revised target still implies significant upside from the referenced share price, suggesting the firm views the recent decline as excessive relative to Seagate’s long-term prospects. Cantor Fitzgerald stock recommendations Analysts Set New Price Targets Several research firms have recently issued reports on STX. Barclays boosted their price objective on shares of Seagate Technology from $1,000.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. Citigroup lifted their price objective on Seagate Technology from $1,240.00 to $1,300.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Argus increased their target price on Seagate Technology from $750.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. TD Cowen raised their target price on Seagate Technology from $850.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Finally, Wells Fargo & Company reduced their target price on shares of Seagate Technology from $1,180.00 to $865.00 and set an “overweight” rating on the stock in a research note on Friday, October 16th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Seagate Technology has a consensus rating of “Moderate Buy” and an average target price of $951.92.
Check Out Our Latest Stock Analysis on Seagate Technology
Institutional Trading of Seagate Technology A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SYM FINANCIAL Corp grew its position in shares of Seagate Technology by 13.7% during the 3rd quarter. SYM FINANCIAL Corp now owns 840 shares of the data storage provider’s stock worth $775,000 after buying an additional 101 shares during the period. Ashton Thomas Securities LLC increased its holdings in Seagate Technology by 9.7% in the third quarter. Ashton Thomas Securities LLC now owns 602 shares of the data storage provider’s stock valued at $555,000 after purchasing an additional 53 shares during the last quarter. Oppenheimer & Co. Inc. lifted its stake in Seagate Technology by 10.2% in the third quarter. Oppenheimer & Co. Inc. now owns 13,566 shares of the data storage provider’s stock valued at $12,512,000 after buying an additional 1,257 shares during the period. Center for Financial Planning Inc. boosted its holdings in Seagate Technology by 90.0% during the third quarter. Center for Financial Planning Inc. now owns 152 shares of the data storage provider’s stock worth $140,000 after buying an additional 72 shares during the last quarter. Finally, Insight Wealth Partners LLC grew its position in shares of Seagate Technology by 245.1% during the 3rd quarter. Insight Wealth Partners LLC now owns 1,094 shares of the data storage provider’s stock worth $1,009,000 after buying an additional 777 shares during the period. 92.87% of the stock is currently owned by institutional investors and hedge funds.
Seagate Technology Company Profile (Get Free Report)
Seagate Technology Holdings plc (NASDAQ: STX) is a data storage company that develops and manufactures mass-capacity storage products and solutions. Its portfolio is centered on hard disk drives (HDDs) used in cloud data centers, enterprise systems, network-attached storage, video and imaging applications, and personal computers.
The company also provides storage-related services and solutions designed to help organizations store, manage, protect, and access large volumes of digital information.
Featured Stories Five stocks we like better than Seagate Technology Comfort Systems Earnings: AI Slowdown or More Growth Ahead? Bristol Myers Squibb’s Cancer Breakthrough Could Have Implications Beyond Its Own Stock 5 Beaten-Down Growth Stocks Trading Like Value Plays as Cash Chases Mega-Caps Anthropic’s IPO Filing Reveals a Massive Opportunity for AI Infrastructure Giants
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Globální prodeje iPhone 18 Pro byly v prvních třech týdnech po uvedení na trh o 3,1 % vyšší než prodeje předchozí řady, zejména díky růstu prodejů v Číně o 29 %.
Global sales of Apple's iPhone 18 Pro series in the first three weeks after launch were 3.1% higher than for the iPhone 17 Pro series over the same period a year ago, according to Counterpoint Research.
The smartphones performed well in markets such as China and India but more modestly elsewhere, Counterpoint said, pointing to a mixed start.
Sales in China rose 29% from a year earlier, the strongest growth of any market, as early stock of the iPhone 18 Pro series was higher than for last year's 17 Pro phones and price increases on rival flagship Android models from Chinese Android makers boosted demand.
Excluding China, global sales growth would have been far weaker, according to the research firm.
Sales in the United States and Japan fell 4% and 27% respectively from a year earlier with the new models more expensive than their predecessors.
Counterpoint said US consumers saw few meaningful improvements in features or design over previous models to justify the price. In Japan, demand shrank as exchange rates amplified the price increases.
The iPhone 18 Pro Max accounted for 56% of sales within the iPhone 18 Pro series, a slight decrease from 57% last year.
Coca-Cola on Tuesday raised its full-year outlook for the third straight quarter, despite lackluster demand in its home market.
For the full year, Coke now expects comparable earnings per share to grow at least 11%, up from its prior forecast of an increase in the range of 9% to 10%. The beverage giant also anticipates that its organic revenue will climb at least 5%, a slight increase from its previous outlook of approximately 5% growth.
Shares of the company rose about 1% in premarket trading.
Here's what the company reported compared with what Wall Street analysts surveyed by LSEG were expecting:
Earnings per share: 91 cents adjusted vs. 88 cents expectedRevenue: $13.4 billion vs. $12.92 billion expected Coke reported third-quarter net income attributable to shareholders of $4.01 billion, or 93 cents per share, up from $3.7 billion, or 86 cents per share, a year earlier.
Excluding transaction gains and other items, Coke earned 91 cents per share.
Amazon kvůli rostoucím cenám paměťových čipů letos očekává hrubou ztrátu ze svých zařízení ve výši 612 milionů USD, oproti původně plánované ztrátě 438 milionů USD.
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Panos Panay, head of Amazon's Devices and Services team CHARLY TRIBALLEAU/AFP via Getty Images Amazon launched a flurry of new consumer devices this month. Behind the scenes, rising memory costs are adding pressure to its already money-losing hardware business.
An internal planning document obtained by Business Insider shows Amazon forecasting a $612 million gross loss this year for its first-party devices business, compared with a leadership target of a $438 million loss.
The document said rising memory costs were "putting pressure" on the business's profitability, forcing "difficult trade-offs" among sales volumes, average selling prices, and gross profit.
The projected $612 million loss was at the gross profit level, meaning it did not account for all operating expenses, such as R&D, sales and marketing, and administrative costs.
The figures offer a rare glimpse into the pressure on Amazon's hardware business as it absorbs rising component costs. Other tech hardware companies, including industry leader Apple, face similar pressure from surging memory chip prices.
An Amazon spokesperson declined to comment.
A new wave of AI devicesDespite the pressure, Amazon continues to expand its consumer hardware lineup. Even if the company loses money on device sales, it can make money in other ways, such as subscription services, as more customers use its gadgets.
In October alone, the company introduced new Kindles, Alexa-powered tablets, Ring smart locks, and AI wearables under its Bee brand. The August planning document identified Bee and new smart glasses as strategic products still in an investment phase.
Amazon has historically used low-cost hardware to pull customers into a broader ecosystem of shopping and digital content. Rising component costs could make that strategy more expensive, forcing the company to raise prices.
The clearest shift is in Amazon's tablets. Earlier this month, the company phased out Fire tablets after 15 years and replaced the budget-friendly lineup with pricier Alexa Tablets powered by Alexa+. The new devices cost between $229.99 and $499.99, a notable increase from previous generations.
Not just AmazonThe planning document was prepared in August, the same month Amazon raised prices on products including Echo speakers, Kindle e-readers, and Fire TV devices.
The pressure extends beyond Amazon. Apple has raised prices on some Macs and iPads, while Microsoft and Sony have increased console prices. Dell, HP, and Lenovo also face higher memory costs.
The AI boom is helping drive the squeeze. Huge data center investments have increased demand for memory chips, while manufacturers have devoted more capacity to high-bandwidth memory used in AI servers. That has tightened supplies and raised prices for components used across consumer electronics.
Amazon is experiencing both sides of the boom. It expects roughly $220 billion in capital expenditures this year, largely to expand AWS data centers for AI demand, while higher component costs squeeze its consumer hardware business.
The rising cost of Alexa+The August planning materials show Amazon reassessing both Alexa+ revenue and operating costs. They called for updated forecasts, expansion through enterprise sales and advertising, and more detailed AWS cost modeling.
Amazon is now confronting the cost of operating Alexa+ at scale. Business Insider reported in July that internal forecasts put Alexa+'s AWS cloud costs at roughly $1.7 billion in 2026, nearly triple the prior year's figure. Amazon was working to lower those costs by relying less on Anthropic's AI models and routing more requests to its own, cheaper systems.
A separate project called Moonraker, intended to give Alexa more advanced AI-agent capabilities, was projected to require more than $100 million in GPU spending this year. Amazon internally considered delaying or scaling back the initiative as one option for easing cost pressure, Business Insider previously reported.
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Eugene is Business Insider’s Chief Tech Correspondent, where he leads coverage of Amazon. His reporting spans the company’s retail and logistics operations to AWS, Alexa, and its internal culture.Previously, he worked at CNBC, Fortune Magazine Korea, and Japan's Yomiuri Shimbun. He holds degrees from NYU and Columbia University’s Graduate School of Journalism.In 2022, Eugene reported on internal documents indicating that Amazon allegedly used deceptive tactics to enroll customers in Prime and made cancellation difficult. The Federal Trade Commission sued Amazon the following year, citing his reporting. The case ended in a record $2.5 billion settlement in 2025.His work has received multiple honors, including the SF Press Club’s Bay Area Journalism Award and SPJ NorCal’s Excellence in Journalism Award.Eugene lives in the Bay Area. Contact him via email at [email protected], or Signal, Telegram, or WhatsApp at 650-942-3061. Use a personal email address, a nonwork WiFi network, and a nonwork device; here's our guide to sharing information securely.
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Clarus Wealth Advisors lifted its stake in Microsoft Corporation (NASDAQ:MSFT – Free Report) by 17.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,087 shares of the software giant’s stock after acquiring an additional 1,202 shares during the period. Microsoft accounts for 1.1% of Clarus Wealth Advisors’ portfolio, making the stock its 23rd largest position. Clarus Wealth Advisors’ holdings in Microsoft were worth $3,100,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Bank of America Corp DE acquired a new stake in Microsoft in the second quarter valued at approximately $27,338,370,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Microsoft by 0.9% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 64,375,360 shares of the software giant’s stock worth $24,013,297,000 after purchasing an additional 543,172 shares during the last quarter. Legal & General Group Plc purchased a new position in Microsoft in the second quarter worth $18,306,443,000. Amundi increased its position in shares of Microsoft by 30.8% during the first quarter. Amundi now owns 41,675,076 shares of the software giant’s stock worth $15,426,862,000 after purchasing an additional 9,814,598 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Microsoft by 10.5% during the first quarter. Dimensional Fund Advisors LP now owns 29,323,744 shares of the software giant’s stock worth $10,852,884,000 after purchasing an additional 2,784,809 shares in the last quarter. 71.13% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Microsoft In other Microsoft news, CEO Judson Althoff sold 10,000 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $487.89, for a total transaction of $4,878,900.00. Following the sale, the chief executive officer owned 100,447 shares in the company, valued at approximately $49,007,086.83. The trade was a 9.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Takeshi Numoto sold 4,810 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $496.48, for a total value of $2,388,068.80. Following the completion of the transaction, the executive vice president directly owned 42,677 shares in the company, valued at $21,188,276.96. This represents a 10.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 150,314 shares of company stock worth $75,404,992. 0.03% of the stock is owned by insiders.
More Microsoft News Here are the key news stories impacting Microsoft this week: Positive Sentiment: Microsoft is offering voluntary buyouts to approximately 60,000 employees in the U.S., Canada, India and the U.K. The program is aimed at reducing costs and reallocating resources toward artificial intelligence, data centers and other strategic priorities. Investors appear to view the move as a way to help offset the company’s substantial AI infrastructure spending. Microsoft offers voluntary buyouts to 60,000 employees Positive Sentiment: Analysts raised their price targets ahead of earnings. Oppenheimer lifted its target to $625 from $570, while Truist raised its target to $600 from $575 and maintained a Buy rating, citing resilient Azure growth and strong enterprise demand. Oppenheimer raises Microsoft target ahead of earnings Positive Sentiment: Wall Street expects continued momentum in Azure and Copilot monetization. Microsoft reports fiscal first-quarter results on October 28, making cloud growth, AI demand and spending efficiency important near-term catalysts. Microsoft stock gains as Wall Street sees Azure growth Microsoft Trading Up 1.5% NASDAQ:MSFT opened at $532.60 on Tuesday. Microsoft Corporation has a 12 month low of $349.20 and a 12 month high of $553.72. The firm has a fifty day simple moving average of $508.43 and a 200-day simple moving average of $437.18. The company has a current ratio of 1.23, a quick ratio of 1.22 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $3.96 trillion, a P/E ratio of 29.65, a PEG ratio of 1.68 and a beta of 1.10.
Microsoft (NASDAQ:MSFT – Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The software giant reported $4.74 earnings per share for the quarter, beating analysts’ consensus estimates of $4.24 by $0.50. Microsoft had a net margin of 40.31% and a return on equity of 31.98%. The firm had revenue of $90.01 billion for the quarter, compared to analyst estimates of $87.62 billion. During the same period in the previous year, the company earned $3.65 earnings per share. The business’s quarterly revenue was up 17.7% compared to the same quarter last year. On average, equities research analysts anticipate that Microsoft Corporation will post 19.66 earnings per share for the current year.
Microsoft Increases Dividend The company also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Thursday, November 19th will be given a dividend of $0.98 per share. The ex-dividend date of this dividend is Thursday, November 19th. This represents a $3.92 dividend on an annualized basis and a yield of 0.7%. This is an increase from Microsoft’s previous quarterly dividend of $0.91. Microsoft’s payout ratio is presently 20.27%.
Analyst Upgrades and Downgrades Several brokerages have recently commented on MSFT. Melius Research set a $665.00 price objective on Microsoft and gave the company a “buy” rating in a report on Monday, October 5th. Sanford C. Bernstein boosted their target price on Microsoft from $660.00 to $662.00 and gave the stock an “outperform” rating in a research note on Monday, October 19th. Guggenheim restated a “buy” rating and set a $586.00 target price on shares of Microsoft in a research note on Wednesday, October 21st. Morgan Stanley lowered Microsoft from an “overweight” rating to a “negative” rating in a research report on Monday, October 5th. Finally, Rothschild & Co Redburn set a $440.00 price target on Microsoft in a research note on Monday, September 21st. Forty-three equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Microsoft currently has a consensus rating of “Moderate Buy” and a consensus price target of $594.11.
View Our Latest Report on MSFT
Microsoft Company Profile (Free Report)
Microsoft Corporation (NASDAQ:MSFT) is a global technology company that develops software, cloud services, devices and digital platforms. Its products and services are used by consumers, businesses, governments and educational institutions worldwide.
The company’s principal offerings include the Windows operating system; Microsoft 365 productivity applications such as Word, Excel, Teams and Outlook; Azure cloud computing and infrastructure services; Dynamics business applications; and enterprise security solutions.
Further Reading Five stocks we like better than Microsoft Comfort Systems Earnings: AI Slowdown or More Growth Ahead? Bristol Myers Squibb’s Cancer Breakthrough Could Have Implications Beyond Its Own Stock 5 Beaten-Down Growth Stocks Trading Like Value Plays as Cash Chases Mega-Caps Anthropic’s IPO Filing Reveals a Massive Opportunity for AI Infrastructure Giants
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Cairn Investment Group Inc. boosted its holdings in Microsoft Corporation (NASDAQ:MSFT – Free Report) by 46.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,070 shares of the software giant’s stock after buying an additional 1,300 shares during the quarter. Cairn Investment Group Inc.’s holdings in Microsoft were worth $1,518,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the business. Frankly Finances LLC purchased a new stake in Microsoft during the second quarter valued at about $35,000. Bard Associates Inc. acquired a new stake in shares of Microsoft during the second quarter valued at approximately $37,000. PMV Capital Advisers LLC acquired a new stake in shares of Microsoft during the second quarter valued at approximately $38,000. Fiduciary Advisors Inc. raised its holdings in shares of Microsoft by 37.4% during the second quarter. Fiduciary Advisors Inc. now owns 125 shares of the software giant’s stock valued at $47,000 after acquiring an additional 34 shares during the period. Finally, Persistent Asset Partners Ltd purchased a new stake in shares of Microsoft in the 2nd quarter valued at approximately $60,000. Institutional investors and hedge funds own 71.13% of the company’s stock.
Analyst Ratings Changes A number of equities analysts recently commented on the stock. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Microsoft in a research note on Tuesday. Morgan Stanley cut shares of Microsoft from an “overweight” rating to a “negative” rating in a research report on Monday, October 5th. Stifel Nicolaus raised shares of Microsoft from a “hold” rating to a “buy” rating and boosted their target price for the company from $530.00 to $575.00 in a research note on Tuesday, September 22nd. Argus reduced their target price on Microsoft from $620.00 to $510.00 and set a “buy” rating for the company in a report on Friday, July 10th. Finally, Needham & Company LLC initiated coverage on Microsoft in a research report on Wednesday, September 23rd. They issued a “buy” rating for the company. Forty-three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $594.11.
Get Our Latest Analysis on Microsoft Microsoft Stock Up 1.5% Microsoft stock opened at $532.60 on Tuesday. The firm has a market cap of $3.96 trillion, a PE ratio of 29.65, a P/E/G ratio of 1.68 and a beta of 1.10. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.22 and a current ratio of 1.23. The firm’s 50 day moving average price is $508.43 and its two-hundred day moving average price is $437.18. Microsoft Corporation has a twelve month low of $349.20 and a twelve month high of $553.72.
Microsoft (NASDAQ:MSFT – Get Free Report) last released its earnings results on Wednesday, July 29th. The software giant reported $4.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.24 by $0.50. The company had revenue of $90.01 billion during the quarter, compared to the consensus estimate of $87.62 billion. Microsoft had a net margin of 40.31% and a return on equity of 31.98%. The company’s revenue was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.65 EPS. On average, research analysts predict that Microsoft Corporation will post 19.66 EPS for the current fiscal year.
Microsoft Increases Dividend The business also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Thursday, November 19th will be paid a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 0.7%. This is a boost from Microsoft’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Thursday, November 19th. Microsoft’s dividend payout ratio (DPR) is currently 20.27%.
Insider Activity at Microsoft In related news, EVP Amy Hood sold 41,674 shares of Microsoft stock in a transaction on Monday, September 14th. The stock was sold at an average price of $498.27, for a total transaction of $20,764,903.98. Following the completion of the sale, the executive vice president owned 533,624 shares of the company’s stock, valued at approximately $265,888,830.48. This trade represents a 7.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Satya Nadella sold 86,525 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $501.46, for a total value of $43,388,826.50. Following the completion of the transaction, the chief executive officer owned 486,763 shares in the company, valued at $244,092,173.98. This trade represents a 15.09% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 150,314 shares of company stock valued at $75,404,992. 0.03% of the stock is owned by insiders.
Key Headlines Impacting Microsoft Here are the key news stories impacting Microsoft this week:
Positive Sentiment: Microsoft is offering voluntary buyouts to approximately 60,000 employees in the U.S., Canada, India and the U.K. The program is aimed at reducing costs and reallocating resources toward artificial intelligence, data centers and other strategic priorities. Investors appear to view the move as a way to help offset the company’s substantial AI infrastructure spending. Microsoft offers voluntary buyouts to 60,000 employees Positive Sentiment: Analysts raised their price targets ahead of earnings. Oppenheimer lifted its target to $625 from $570, while Truist raised its target to $600 from $575 and maintained a Buy rating, citing resilient Azure growth and strong enterprise demand. Oppenheimer raises Microsoft target ahead of earnings Positive Sentiment: Wall Street expects continued momentum in Azure and Copilot monetization. Microsoft reports fiscal first-quarter results on October 28, making cloud growth, AI demand and spending efficiency important near-term catalysts. Microsoft stock gains as Wall Street sees Azure growth Microsoft Company Profile (Free Report)
Microsoft Corporation (NASDAQ:MSFT) is a global technology company that develops software, cloud services, devices and digital platforms. Its products and services are used by consumers, businesses, governments and educational institutions worldwide.
The company’s principal offerings include the Windows operating system; Microsoft 365 productivity applications such as Word, Excel, Teams and Outlook; Azure cloud computing and infrastructure services; Dynamics business applications; and enterprise security solutions.
Read More Five stocks we like better than Microsoft Comfort Systems Earnings: AI Slowdown or More Growth Ahead? Bristol Myers Squibb’s Cancer Breakthrough Could Have Implications Beyond Its Own Stock 5 Beaten-Down Growth Stocks Trading Like Value Plays as Cash Chases Mega-Caps Anthropic’s IPO Filing Reveals a Massive Opportunity for AI Infrastructure Giants Want to see what other hedge funds are holding MSFT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Microsoft Corporation (NASDAQ:MSFT – Free Report).
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Independence Bank of Kentucky lifted its stake in shares of Microsoft Corporation (NASDAQ:MSFT – Free Report) by 3.0% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 83,304 shares of the software giant’s stock after buying an additional 2,400 shares during the quarter. Microsoft comprises about 3.5% of Independence Bank of Kentucky’s portfolio, making the stock its 3rd largest holding. Independence Bank of Kentucky’s holdings in Microsoft were worth $31,074,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. Ramsey Quantitative Systems bought a new position in shares of Microsoft during the second quarter worth approximately $112,000. Midwest Capital Advisors LLC raised its stake in Microsoft by 16.6% during the first quarter. Midwest Capital Advisors LLC now owns 422 shares of the software giant’s stock worth $156,000 after acquiring an additional 60 shares in the last quarter. Friedenthal Financial increased its position in Microsoft by 6.2% during the 1st quarter. Friedenthal Financial now owns 431 shares of the software giant’s stock worth $160,000 after purchasing an additional 25 shares in the last quarter. Patton Fund Management Inc. grew its position in Microsoft by 11.8% during the 1st quarter. Patton Fund Management Inc. now owns 549 shares of the software giant’s stock worth $203,000 after acquiring an additional 58 shares during the last quarter. Finally, Summit Portfolio Management LTD. acquired a new position in shares of Microsoft in the first quarter valued at approximately $208,000. Institutional investors own 71.13% of the company’s stock.
Analyst Ratings Changes MSFT has been the topic of a number of recent research reports. Piper Sandler reiterated an “overweight” rating on shares of Microsoft in a report on Tuesday, October 20th. The Goldman Sachs Group restated a “buy” rating and issued a $640.00 price objective on shares of Microsoft in a report on Thursday, July 30th. Morgan Stanley lowered Microsoft from an “overweight” rating to a “negative” rating in a research report on Monday, October 5th. Citigroup lifted their target price on Microsoft from $600.00 to $636.00 and gave the stock a “buy” rating in a report on Thursday, October 15th. Finally, Phillip Securities cut Microsoft from a “moderate buy” rating to a “hold” rating in a research note on Monday, October 12th. Forty-three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Microsoft has an average rating of “Moderate Buy” and a consensus price target of $594.11.
Check Out Our Latest Research Report on MSFT Microsoft News Summary Here are the key news stories impacting Microsoft this week:
Positive Sentiment: Microsoft is offering voluntary buyouts to approximately 60,000 employees in the U.S., Canada, India and the U.K. The program is aimed at reducing costs and reallocating resources toward artificial intelligence, data centers and other strategic priorities. Investors appear to view the move as a way to help offset the company’s substantial AI infrastructure spending. Microsoft offers voluntary buyouts to 60,000 employees Positive Sentiment: Analysts raised their price targets ahead of earnings. Oppenheimer lifted its target to $625 from $570, while Truist raised its target to $600 from $575 and maintained a Buy rating, citing resilient Azure growth and strong enterprise demand. Oppenheimer raises Microsoft target ahead of earnings Positive Sentiment: Wall Street expects continued momentum in Azure and Copilot monetization. Microsoft reports fiscal first-quarter results on October 28, making cloud growth, AI demand and spending efficiency important near-term catalysts. Microsoft stock gains as Wall Street sees Azure growth Insider Buying and Selling at Microsoft In other news, EVP Takeshi Numoto sold 4,810 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $496.48, for a total value of $2,388,068.80. Following the completion of the sale, the executive vice president owned 42,677 shares of the company’s stock, valued at approximately $21,188,276.96. The trade was a 10.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Satya Nadella sold 86,525 shares of the stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $501.46, for a total transaction of $43,388,826.50. Following the sale, the chief executive officer directly owned 486,763 shares of the company’s stock, valued at $244,092,173.98. The trade was a 15.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 150,314 shares of company stock valued at $75,404,992. Insiders own 0.03% of the company’s stock.
Microsoft Price Performance Shares of NASDAQ MSFT opened at $532.60 on Tuesday. The stock’s 50 day moving average price is $508.43 and its 200-day moving average price is $437.18. The company has a quick ratio of 1.22, a current ratio of 1.23 and a debt-to-equity ratio of 0.07. Microsoft Corporation has a twelve month low of $349.20 and a twelve month high of $553.72. The company has a market capitalization of $3.96 trillion, a PE ratio of 29.65, a PEG ratio of 1.68 and a beta of 1.10.
Microsoft (NASDAQ:MSFT – Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The software giant reported $4.74 earnings per share for the quarter, topping the consensus estimate of $4.24 by $0.50. Microsoft had a return on equity of 31.98% and a net margin of 40.31%. The company had revenue of $90.01 billion during the quarter, compared to analyst estimates of $87.62 billion. During the same quarter last year, the firm posted $3.65 EPS. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. On average, equities analysts anticipate that Microsoft Corporation will post 19.66 EPS for the current year.
Microsoft Increases Dividend The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Thursday, November 19th will be paid a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 0.7%. This is a boost from Microsoft’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Thursday, November 19th. Microsoft’s payout ratio is 20.27%.
Microsoft Company Profile (Free Report)
Microsoft Corporation (NASDAQ:MSFT) is a global technology company that develops software, cloud services, devices and digital platforms. Its products and services are used by consumers, businesses, governments and educational institutions worldwide.
The company’s principal offerings include the Windows operating system; Microsoft 365 productivity applications such as Word, Excel, Teams and Outlook; Azure cloud computing and infrastructure services; Dynamics business applications; and enterprise security solutions.
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