Tigo Energy, Inc. (NASDAQ: TYGO) (“Tigo” or “Company”), a leading provider of intelligent solar and energy solutions, today announced the initial delivery of Designed and Assembled in USA module-level power electronics (MLPE) to EG4 Electronics. The shipment, under an agreement first announced at the RE+ tradeshow in 2025, includes Tigo custom 650W optimizers assembled at SVI in Vancouver, Washington, Cloud Connect Advanced (CCA) data-logging devices, and Tigo Access Point (TAP) units. EG4 will integrate Tigo CCA devices into EG4 inverters during manufacturing at an EG4 facility in Commerce, Texas, then bundle complete systems with Tigo optimizers and TAPs for distribution to installers nationwide. The complete system qualifies for the 45X optimized inverters, Materials Assistance Cost Ratios (MACR), and enhanced domestic content tax credits.
Assembling in the USA builds momentum to bring critical energy component production back to the United States and expands access to solar systems eligible for enhanced federal tax incentives. This approach helps minimize production risk, meets MACR requirements, enhances domestic content, and improves the economics of solar. Installers deploying EG4 systems with US-assembled Tigo MLPE devices can now offer customers the combined benefits of domestic manufacturing and the flexibility of the inverter-agnostic Tigo TS4 platform.
“We believe in energy autonomy for our customers just as much as we believe in manufacturing autonomy for American innovators, and this collaboration with Tigo allows us to make significant progress on both of those fronts,” said Aaron Waplington, President of EG4 Electronics. “This shipment is the first major milestone of our work with Tigo. Installers can now offer their customers systems that support domestic manufacturing while qualifying for enhanced tax credits.”
The custom 650W optimizers bundled with EG4 inverters are specifically configured to meet Materials Assistance Cost Ratios (MACR) and domestic content thresholds for the enhanced tax credit while maintaining the module-level optimization, monitoring, and rapid shutdown capabilities installers expect from the Tigo Flex MLPE platform. Tigo MLPE products work with EG4 inverters and hundreds of other inverter models, giving installers flexibility in system design while expanding options for domestically manufactured solar components.
“EG4 is at the forefront of re-shoring manufacturing for American solar innovations, and we are delighted to work in partnership with James and his team,” said Anita Chang, chief operating officer at Tigo Energy. “Tigo and EG4 are in alignment on some of the most critical success factors in solar, which include innovation and quality. We look forward to continuing to build American-made energy infrastructure together.”
To learn more about Tigo Flex MLPE, visit the Tigo website. For inquiries about Tigo products, contact the sales team here.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260518128273/en/
GOLDEN, Colo. & MONTREAL--(BUSINESS WIRE)--Molson Coors Beverage Company ("MCBC," "Molson Coors" or "the Company") (NYSE: TAP, TAP.A, TAP 32; TSX: TPX.A, TPX.B) announced today that it has commenced an underwritten public offering (the “Offering”) of U.S. dollar-denominated senior notes (the “Notes”). The Offering is expected to close on or about May 27, 2026, subject to customary closing conditions.
Molson Coors intends to use the net proceeds of the Offering for general corporate purposes, including the repayment of the $2.0 billion 3.00% Senior Notes due 2026.
Citigroup Global Markets Inc., BofA Securities, Inc. and Goldman Sachs & Co. LLC are acting as joint book-running managers for the Offering.
The Offering is being made pursuant to an effective shelf registration statement (including a prospectus) (File No. 333-277183) filed with the Securities and Exchange Commission (“SEC”), which became effective upon filing. Before you invest, you should read the prospectus in that registration statement and the related preliminary prospectus supplement and other documents Molson Coors has filed or will file with the SEC for more complete information about Molson Coors and the Offering. You may get these documents for free by visiting EDGAR on the SEC’s website at www.sec.gov. A copy of the prospectus and related preliminary prospectus supplement for the Offering may be obtained by contacting: Citigroup Global Markets Inc. by mail at c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 by telephone at 1-800-831-9146 or by email at [email protected]; BofA Securities, Inc. by mail at NC1-022-02-25, 201 North Tryon Street, Charlotte, NC 28255-0001, Attention: Prospectus Department or by email at [email protected]; Goldman Sachs & Co. LLC by mail at 200 West Street, New York, NY 10282, Attention: Prospectus Department, by facsimile at 212-902-9316, by telephone at 1-866-471-2526 or by email at [email protected].
This press release is for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any of the Notes or any other security, nor shall there be any sale of the Notes or any other security in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or other jurisdiction.
Overview of Molson Coors
For more than two centuries, we have brewed beverages that unite people to celebrate all life’s moments. From our core power brands Coors Light, Miller Lite, Coors Banquet, Molson Canadian, Carling and Ožujsko to our above premium brands including Madrí Excepcional, Staropramen, Blue Moon Belgian White and Leinenkugel’s Summer Shandy, to our value brands like Miller High Life and Keystone Light, we produce many beloved and iconic beers. While our history is rooted in beer, we offer a modern portfolio that expands beyond the beer aisle as well, including flavored beverages like Vizzy Hard Seltzer and Monaco, spirits and non-alcoholic beverages. We also have partner brands, such as Simply Spiked, ZOA Energy, Fever-Tree, among others, through license, distribution, partnership and joint venture agreements. As a business, our ambition is to be the first choice for our people, our consumers and our customers, and our success depends on our ability to make our products available to meet a wide range of consumer segments and occasions.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the U.S. federal securities laws. Such statements include, without limitation, Molson Coors’ plans and intentions regarding the Offering and the use of proceeds from the Offering. Such forward-looking statements are subject to certain risks, uncertainties and assumptions, including, without limitation, prevailing market conditions and other factors. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expected. More information about potential risk factors that could affect Molson Coors and its results is included in Molson Coors’ filings with the SEC, including our most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, which are available at www.sec.gov. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Molson Coors does not undertake to update forward-looking statements, whether as a result of new information, future events or otherwise.
Investors in Molson Coors Beverage Company (TAP - Free Report) need to pay close attention to the stock based on moves in the options market lately. That is because the July 18, 2026 $30.00 Call had some of the highest implied volatility of all equity options today.
What is Implied Volatility?Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean there is an event coming up soon that may cause a big rally or a huge sell off. However, implied volatility is only one piece of the puzzle when putting together an options trading strategy.
What do the Analysts Think?Clearly, options traders are pricing in a big move for Molson Coors share, but what is the fundamental picture for the company? Currently, Molson Coors is a Zacks Rank #3 (Hold) in the Beverages - Alcohol Industry that ranks in the Bottom 35% of our Zacks Industry Rank. Over the last 60 days, no analysts have increased their estimates for the current quarter, while five have revised their estimates downward. The net effect has taken our Zacks Consensus Estimate for the current quarter to move from $1.80 per share to $1.57 per share in the same time period.
Given the way analysts feel about Molson Coors right now, this huge implied volatility could mean there’s a trade developing. Often times, options traders look for options with high levels of implied volatility to sell premium. This is a strategy many seasoned traders use because it captures decay. At expiration, the hope for these traders is that the underlying stock does not move as much as originally expected.
On May 28, 2026, Molson Coors Beverage Co TAP shares fell 3.1% to a current price of $40.57. This decline follows a trend where the stock has seen a 52-week range between $40.37 and $54.82, indicating volatility in its recent price performance.
GF Value™ verdict: The current price of $40.57 is 29.5% below the GF Value™ estimate of $57.52.GF Score™: TAP has a GF Score™ of 64/100, which is considered above average.Most notable signal: Insider activity shows that insiders bought $0.1 million and sold $0.1 million in the last three months, indicating mixed sentiment. Is TAP Overvalued or Undervalued? The current market price of Molson Coors Beverage Co TAP at $40.57 suggests that the stock is undervalued when compared to the GF Value™ estimate of $57.52, reflecting a significant margin of safety of 29.5%. This valuation indicates a potential opportunity for investors looking for stocks trading below their intrinsic value. However, the GF Valuation label suggests that TAP is a possible value trap, which means that while it may appear undervalued, there could be underlying risks affecting its future performance. GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates.
Investors should approach this situation with caution, considering both the undervaluation indicated by the current price relative to GF Value™ and the potential risks highlighted by the GF Valuation label. The possibility of a value trap suggests that while the stock may be cheap, it may also be facing challenges that could hinder its recovery.
How Does TAP's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 8.6x 12.2x TAP is currently trading below its 5-year median P/E of 12.2x, with a forward P/E of 8.6x indicating a potentially attractive valuation compared to its historical performance. This P/E analysis aligns with the GF Value™ verdict that suggests the stock is undervalued, reinforcing the perspective that TAP may present a buying opportunity, albeit with noted risks.
What Does TAP's GF Score™ Tell Us? Metric Rating GF Score™ 64/100 Financial Strength 5/10 Profitability 6/10 Growth 3/10 Valuation 8/10 Momentum 2/10 The GF Score™ of 64/100 indicates that TAP is performing above average when compared to other stocks. The strongest area is the Valuation rank, which is rated 8/10, suggesting that the stock is attractively priced relative to its peers. Conversely, the weakest area is the Growth rank at 3/10, which indicates potential challenges in revenue or earnings growth. The mixed signals from the GF Score™ highlight the need for careful consideration of TAP's future growth prospects in relation to its current valuation.
What Are Insiders Doing with TAP Stock? Insider activity for Molson Coors Beverage Co TAP has seen both buying and selling in the last three months, with insiders purchasing $0.1 million worth of shares and selling a similar amount. This pattern suggests that insiders might have mixed feelings about the company's future performance. While purchases can indicate confidence in the stock's potential, simultaneous sales may reflect a desire to realize gains or manage risk. Investors should keep an eye on insider trading as it can provide additional context to the stock's outlook.
What This Means for Investors Based on the GF Value™ assessment, Molson Coors Beverage Co TAP is currently undervalued. However, the potential for a value trap and the mixed signals from insider activity and growth prospects necessitate caution. Investors should weigh the attractive valuation against the risks inherent in the company's current financial and operational challenges.
For the complete analysis, visit the Molson Coors Beverage Co TAP stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.
Frequently Asked Questions What is TAP's GF Score™?
TAP has a GF Score™ of 64/100, indicating that it is positioned above average compared to its peers in terms of potential long-term returns.
Is TAP overvalued or undervalued?
According to the GF Value™, TAP is currently undervalued, with a stock price that is 29.5% below its estimated intrinsic value.
What is TAP's P/E ratio?
TAP's current P/E ratio is 8.6x, which is below its 5-year median P/E of 12.2x, suggesting that the stock is trading at a lower valuation compared to its historical averages.
This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Molson Coors Beverage Company is upgraded to Strong Buy, as the valuation disconnect widens despite solid fundamentals and recovery potential. TAP maintains robust cash flow and a healthy balance sheet and offers a potential double-digit combined dividend-plus-buyback yield, which is covered by the underlying free cash flow. Management targets $450 million in cost savings by 2029, network modernization, and premiumization to offset macro and competitive pressures.
Key Takeaways Molson Coors Q1 underlying pretax income grew 16.2% y/y and underlying EPS rose 24% despite volume pressure.TAP's $450M savings plan and 9.1% MG&A drop helped absorb higher aluminum and fuel costs.TAP gained mix from beyond beer (Fever-Tree, Topo Chico Hard and Monaco) and premium brands. Despite ongoing volume challenges across parts of its business, Molson Coors Beverage Company (TAP - Free Report) delivered strong profitability growth in the first quarter of 2026, highlighting the effectiveness of its cost discipline and portfolio strategy. Underlying pretax income increased 16.2%, while underlying earnings per share jumped 24%, even as the company operated in a challenging consumer and industry environment.
A key driver of profitability has been the company’s aggressive focus on cost savings. Molson Coors continues to advance its three-year, $450-million cost-saving program through restructuring actions, supply-chain optimization and operational efficiencies. These initiatives have helped offset inflationary pressures from higher aluminum, fuel and Midwest Premium costs. Management also reported a 9.1% decline in MG&A expenses in the quarter, aided by lower employee-related costs and the absence of prior-year transition expenses.
Portfolio diversification is another important contributor. Growth in higher-margin categories, such as beyond beer, including Fever-Tree, Topo Chico Hard and the recently acquired Monaco Cocktails brand, is helping improve the revenue mix. The company also continues to benefit from premium brands like Peroni and Blue Moon, while maintaining pricing discipline and capturing mix gains from premiumization.
Molson Coors’ strong balance sheet and cash-generation capabilities provide flexibility to invest in growth initiatives, pursue acquisitions, and return cash to shareholders through dividends and share repurchases. While macroeconomic uncertainty and category volume pressure remain concerning, management believes that its cost initiatives, premiumization efforts and expanding beyond-beer portfolio position the company to sustain profitability and create long-term shareholder value.
The Zacks Rundown for TAPThis Zacks Rank #3 (Hold) company’s shares have lost 6.3% in the past three months against the industry’s growth of 8.3%.
Image Source: Zacks Investment Research
From a valuation standpoint, TAP trades at a forward price-to-earnings ratio of 8.42X, lower than the industry’s average of 15.32X.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for TAP’s 2026 earnings implies a year-over-year decline of 11.4%, while the same for 2027 earnings suggests growth of 4.2%.
Stocks to ConsiderFomento Economico Mexicano (FMX - Free Report) , alias FEMSA, operates across retail, beverages, digital, health, fuel, logistics and distribution, anchored by OXXO and Coca-Cola FEMSA. FEMSA currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for FEMSA’s 2026 sales and earnings indicates growth of 17.5% and 115.3%, respectively. The company has delivered a trailing four-quarter negative earnings surprise of 16.99%, on average.
The Vita Coco Company Inc. (COCO - Free Report) is a beverage company that develops, markets and distributes coconut water, plant-based drinks, protein beverages and private-label products across global retail and foodservice channels. COCO currently flaunts a Zacks Rank #1.
The Zacks Consensus Estimate for Vita Coco's current fiscal-year sales and earnings indicates growth of 47.9% and 14.6%, respectively. The company has delivered a trailing four-quarter earnings surprise of 11.7%, on average.
Ambev S.A. (ABEV - Free Report) engages in the production, distribution and sale of beer, draft beer, soft drinks, malt and food, and other beverages. ABEV currently carries a Zacks Rank #2 (Buy).
The Zacks Consensus Estimate for ABEV’s current fiscal-year sales and earnings indicates growth of 16.7% and 6.4%, respectively.
For the quarter ended March 2026, Simon Property (SPG - Free Report) reported revenue of $1.76 billion, up 19.3% over the same period last year. EPS came in at $3.17, compared to $1.27 in the year-ago quarter.
The reported revenue represents a surprise of +12.08% over the Zacks Consensus Estimate of $1.57 billion. With the consensus EPS estimate being $2.98, the EPS surprise was +6.49%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Simon Property performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
U.S. Malls and Premium Outlets - Occupancy - Total Portfolio: 96% compared to the 96.4% average estimate based on two analysts.Revenue- Management fees and other revenues: $40.19 million versus $34.36 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +18.9% change.Revenue- Other income: $88.37 million versus $78.87 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +23.1% change.Revenue- Lease income: $1.63 billion versus the two-analyst average estimate of $1.48 billion. The reported number represents a year-over-year change of +19.1%.Net Earnings Per Share (Diluted): $1.48 versus $1.43 estimated by three analysts on average.View all Key Company Metrics for Simon Property here>>>
Shares of Simon Property have returned +0.8% over the past month versus the Zacks S&P 500 composite's +9.1% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
Retailers are looking to renew their leases on space in malls as much as three years before their current lease expires, Simon Property Group CEO, President and Chief Operating Officer Eli Simon said Monday (May 11).
Simon was speaking during the first quarter earnings call for the company, which owns shopping, dining, entertainment and mixed-use destinations across North America, Europe and Asia.
“What’s interesting when talking to the leasing team is retailers are now wanting to talk about their 2027, 2028, 2029 expirations, which historically might have been more of a luxury tenant phenomenon, who think, much like we do, in terms of decades, not quarter to quarter,” Simon said. “We’re actually hearing from legacy retailers in our existing portfolio, non-luxury, that actually want to start having those conversations because I think they understand this pipeline too and the interest in our space.”
As of the end of the first quarter, March 31, Simon Property Group had recorded year-over-year increases in its U.S. malls and premium outlets operating statistics, according to a Monday earnings release.
Over the year, occupancy rose 10 basis points to 96%, base minimum rent per square foot increased 5.2% to $61.99, and reported retailer sales per square foot rose 11.8% to $819.
U.S. malls and premium outlets accounted for 77.1% of Simon Property Group’s net operating income during the first quarter, according to a supplemental presentation released Monday.
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Simon said during the call that in the first quarter, the company signed more than 1,100 leases totaling over 4.7 million square feet, with about 25% of its leasing volume being new deals. He added that the company has completed more than 75% of its 2026 expirations, which puts it ahead of last year’s pace, and that the pipeline of deals is “significantly larger” than it was at this time last year.
“Occupancy gains, increased shopper traffic and higher retailer sales drove strong cash flow growth in the quarter, reflecting solid fundamentals across all our platforms, the resilience of the consumer, and the strength and breadth of tenant demand we have for our centers,” Simon said. “Retailer demand remains broad-based, spanning new and legacy retailers across a wide range of categories in all of our platforms and geographies.”
Key Takeaways SPG posted Q1 Real Estate FFO of $3.17/share, topping estimates as revenues rose to $1.76B.SPG's U.S. malls and outlets ended at 96% occupancy; base rent rose 5.2% to $61.99/sf.SPG raised 2026 FFO outlook to $13.10-$13.25 and lifted its Q2 dividend to $2.25/share. Simon Property Group, Inc. (SPG - Free Report) started 2026 with a stronger-than-expected first quarter, delivering Real Estate FFO of $3.17 per share. The figure topped the Zacks Consensus Estimate of $2.98 by 6.4% and increased 7.5% year over year. Total revenues of $1.76 billion beat the consensus mark of $1.57 billion by 12.1% and rose 19.3% from the year-ago period.
The quarter reflected steady demand across the portfolio, with U.S. Malls and Premium Outlets ending occupancy at 96%. Management attributed the performance to continued leasing momentum, stronger retailer sales and traffic, and disciplined capital allocation.
Importantly, SPG also paired the solid quarter with a shareholder-friendly move. The company announced a higher quarterly dividend of $2.25 per share for second-quarter 2026 and raised its full-year 2026 Real Estate FFO per share outlook to $13.10-$13.25, signaling confidence in operating momentum for the balance of the year.
SPG's Revenue Mix Shows Broad-Based LiftA key contributor to the quarter was growth across Simon’s core revenue streams. Lease income remained the dominant driver, supported by the company’s scale across malls, outlets and mixed-use destinations.
Beyond core rent, Simon also benefited from higher management fees and other revenues. The combined uplift helped reinforce operating leverage as portfolio-level activity improved.
Simon's Property Metrics Point to Pricing PowerOperating fundamentals remained firm across Simon’s U.S. Malls and Premium Outlets. Base minimum rent per square foot climbed to $61.99 at quarter-end, up 5.2% from a year earlier, reflecting positive leasing spreads and continued tenant demand.
Shopper productivity also continued to improve. Reported retailer sales per square foot rose to $819 for the trailing 12 months ended March 31, 2026, an 11.8% increase year over year. Higher sales and traffic trends typically support leasing velocity and landlord pricing over time.
SPG Highlights NOI Growth and Leasing CadenceOperating performance also translated into stronger property-level profitability. Domestic property net operating income (NOI) increased 6.7% from the prior-year quarter, with portfolio NOI up the same amount, underscoring broad-based improvement across the platform.
On the earnings call, management added color on leasing volume and execution. Simon signed more than 1,100 leases totaling more than 4.7 million square feet during the quarter, with roughly 25% of leasing volume coming from new deals. The company also noted that it had completed more than 75% of its 2026 expirations, positioning it well as the year progresses.
SPG Keeps Liquidity Ample, Taps Multiple MarketsSimon ended the quarter with approximately $8.7 billion of liquidity, consisting of $1.2 billion of cash on hand (including its share of joint venture cash) and $7.5 billion of available capacity under revolving credit facilities. This level of flexibility supports ongoing investment activity and potential opportunistic capital actions.
During the quarter, the company executed 10 secured loan transactions totaling about $2.3 billion (U.S. dollar equivalent) at a weighted average interest rate of 5.25%. Simon also completed an $800 million senior notes offering with a five-year term and a 4.30% coupon, using proceeds to repay $800 million of notes at maturity. The company amended, restated and extended its $5.0 billion multi-currency revolving credit facility, with an initial maturity of June 30, 2030 and an option to extend to 2031.
Simon Raises 2026 Real Estate FFO OutlookReflecting the stronger start to the year, Simon increased its full-year 2026 Real Estate FFO per share guidance to a range of $13.10-$13.25, lifting the midpoint by 5 cents from the prior outlook of $13.00-$13.25. The Zacks Consensus Estimate of $13.19 is within the guided range.
The company reiterated that it expects an earnings headwind of roughly 25 to 30 cents per share from higher interest expense and lower interest income, with the current environment trending closer to the lower end of that range.
Simon Steps Up Shareholder ReturnsSimon paired operating strength with higher cash returns to shareholders. The board declared a quarterly common stock dividend of $2.25 for the second quarter of 2026, representing a 7.1% year-over-year increase and a 2.3% sequential rise.
The company also remained active on repurchases, buying back 965,296 shares for approximately $175 million during the quarter. The combination of a higher dividend and continued buybacks signals confidence in cash-flow generation and balance sheet flexibility.
SPG’s Zacks RankCurrently, SPG carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Retail REITsFederal Realty Investment Trust (FRT - Free Report) reported first-quarter 2026 core FFO per share of $1.88, up 10.6% year over year and ahead of the Zacks Consensus Estimate of $1.82. Total revenues of $341.08 million increased 10.3% year over year and beat the consensus mark of $333.8 million.
Federal Realty’s results were supported by strong leasing momentum and higher comparable property operating income. Federal Realty signed 101 comparable retail leases spanning 649,078 square feet, delivering cash rent spreads of 13% for the quarter.
Regency Centers Corporation (REG - Free Report) reported first-quarter 2026 NAREIT FFO per share of $1.20, missing the Zacks Consensus Estimate of $1.21 by 0.8%. However, the metric increased 4.3% from the year-ago quarter.
Regency Centers’ total revenues came in at $412.5 million, up 8.3% year over year and ahead of the Zacks Consensus Estimate of $400.9 million by 2.9%. Regency Centers’ results were aided by continued leasing traction, as reflected in same-property NOI growth of 4.4% year over year.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.
Simon Property Group remains a relatively safe investment even with the new CEO, Eli Simon, due to enduring location advantages. Current economic uncertainty and inflation concerns highlight the need for safety and cash reserves. SPG's diversification and prime locations position it for faster recovery compared to industry peers during potential consumer downturns.
Key Takeaways Simon Property Group's strong Q1 results reinforced its leadership in premium retail real estateDespite an extended rally, SPG's valuation is still very reasonable with an enticing dividend above 4%SPG's ROIC highlights efficient capital allocation and durable competitive advantages Simon Property Group's (SPG - Free Report) ) stock has surged back near its 52-week highs after delivering strong Q1 results on Monday evening that reinforced its position as the premier mall REIT in the U.S.
The stock has rallied above $200, supported by resilient consumer spending, high occupancy levels, and improving operating metrics.
The key question for many investors is whether SPG still offers upside at these elevated levels or if the stock is worth holding onto because of its juicy dividend.
Image Source: Zacks Investment Research
SPG’s Q1 Results Show Continued Strength SPG posted stronger-than-expected Q1 2026 results, with earnings and revenue both comfortably ahead of Wall Street expectations. The company reported adjusted EPS of $3.17, which was up 7% from $2.95 per share a year ago and beat expectations of $2.98.
This came on Q1 sales of $1.75 billion, a 19% increase from the prior year quarter, while impressively exceeding estimates of $1.56 billion.
Furthermore, SPG’s strong Q1 results highlighted several encouraging trends: strong leasing demand across premium retail properties, healthy occupancy rates and tenant sales, continued pricing power on rents, and solid cash flow generation despite economic uncertainty.
Most importantly, management maintained a confident tone about the retail environment and the long-term strength of high-quality malls as SPG's portfolio continues to outperform lower-tier retail centers because luxury brands and experiential tenants still want access to its premium locations.
Image Source: Zacks Investment Research
SPG’s Valuation is Still Reasonable Despite an extensive rally in recent years, especially for a REIT stock, SPG does not appear excessively expensive relative to its earnings power and asset quality.
Based on current valuation metrics, SPG trades at a reasonable 15X forward earnings multiple compared to its Zacks REIT and Equity Trust-Retail Industry’s average of 17X and the benchmark S&P 500’s 23X.
Image Source: Zacks Investment Research
Furthermore, Simon Property Group owns some of the highest-quality retail real estate in the world. Its portfolio includes Class A malls, outlet centers, and mixed-use destinations that attract foot traffic even as weaker malls struggle.
This gives SPG stronger pricing power and more resilient occupancy than many retail REIT peers. Unlike many cyclical retail names, SPG generates highly stable rental income. Plus, long-term leases and diversified tenants help smooth earnings through economic cycles.
What may be most appealing is that even after the stock’s strong run, SPG still offers an above-market dividend yield (4.36%), which remains attractive for income-focused investors. The combination of yield plus moderate growth makes SPG appealing in a higher-rate environment.
Image Source: Zacks Investment Research
SPG’s ROIC Suggests Strong Capital AllocationOne of the more compelling aspects of Simon Property Group is its consistently solid return on invested capital (ROIC).
Recent data shows SPG generating ROIC of around 18.5% when excluding dividends, which is very strong for a REIT and above many peers in commercial real estate.
A REIT or any company for that matter with an ROIC near 20% or higher is important because it indicates SPG is deploying capital efficiently, with it noteworthy that management has historically made disciplined acquisitions and redevelopment investments while earning strong returns on its premium properties.
Notably, SPG’s ROIC has remained relatively stable over long periods, even during difficult retail cycles. That consistency suggests the business has durable competitive advantages.
For REIT investors, ROIC is especially valuable because it helps distinguish high-quality property owners from companies merely relying on leverage and asset appreciation.
Image Source: Zacks Investment Research
Risks Investors Should WatchEven high-quality REITs face challenges, and below are the potential challenges that investors should watch for:
Interest Rates
Higher interest rates can pressure REIT valuations because financing costs rise and income-oriented investors gain alternatives in bonds.
Consumer Spending Slowdown
If the economy weakens materially, discretionary retail spending could soften, hurting tenant sales and leasing activity.
E-Commerce Competition
While Simon’s premium malls have proven resilient, the long-term shift toward online shopping remains a structural headwind for retail real estate.
Still, Simon has adapted better than most competitors by emphasizing luxury retail, dining, entertainment, and mixed-use redevelopment.
Is SPG a Buy Near 52-Week Highs?For long-term investors, Simon Property Group still looks attractive despite trading near record levels. In this regard, SPG has strong operating momentum, high-quality assets, reliable dividends, solid ROIC, and reasonable valuation metrics.
Investors seeking a blend of income, stability, and moderate long-term appreciation may still find Simon Property Group's stock appealing. For now, SPG sports a Zacks Rank #2 (Buy).
Three Oversold REITs With Strong FundamentalsSimon Property Group NYSE: SPG reported first-quarter 2026 results that exceeded its internal plan and raised its full-year real estate funds from operations guidance, citing stronger occupancy, higher shopper traffic and accelerating retailer sales across its portfolio.
Eli Simon, the company’s chief executive officer, president and chief operating officer, said the quarter reflected “solid fundamentals across all our platforms, the resilience of the consumer, and the strength and breadth of tenant demand” for Simon’s centers. He also opened the call by thanking those who sent notes following the death of his father, saying his impact on the company and the industry was “truly powerful.”
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FFO Rises as NOI Growth Remains Strong AI Panic Hits Wall Street: 3 Financial Stocks on SaleBrian McDade, executive vice president and chief financial officer, said real estate FFO totaled $1.2 billion, or $3.17 per share, in the first quarter, compared with $1.1 billion, or $2.95 per share, in the prior-year period. That represented 7.5% growth.
McDade said domestic and international operations contributed $0.27 of growth, driven by increased lease income and disciplined cost management. Higher interest expense and lower interest income were a combined $0.05 drag year over year, as expected.
2 REITs That Look Attractive in a Stable Rate EnvironmentReported FFO was $2.91 per share and included $40 million, or $0.10 per share, of accelerated stock compensation expense. McDade said that expense reduced real estate FFO by $0.02 per share and other platform investments, net of tax, by $0.08 per share.
Domestic property net operating income increased 6.7% year over year in the quarter. McDade said approximately 120 basis points of that growth came from Simon’s acquisition of the remaining TRG interests. Portfolio NOI, which includes international properties at constant currency, also grew 6.7%.
The company increased its full-year 2026 real estate FFO guidance to a range of $13.10 to $13.25 per share, compared with $12.73 per share in 2025. McDade said the midpoint of the new range represents a 5% increase from last year.
Leasing Activity and Retailer Sales Accelerate Simon said retailer demand remained broad-based, spanning new and legacy retailers across categories, platforms and geographies. During the first quarter, the company signed more than 1,100 leases totaling over 4.7 million square feet. About 25% of leasing volume came from new deals.
The company has completed more than 75% of its 2026 lease expirations, which Simon said is ahead of where it stood at the same time last year. He said the leasing pipeline is “significantly larger” than a year ago and includes legacy brands, new-to-portfolio concepts, luxury retailers, restaurants and local and regional tenants.
Average base minimum rent for malls and premium outlets increased 5.2% year over year, while mall rent increased 9.1%. Occupancy for malls and premium outlets was 96% at quarter-end, up 10 basis points from a year earlier. McDade said occupancy cost was 12.7%.
Retailer sales at malls and premium outlets were $819 per square foot, up 11.8%. Simon said total sales volume increased 5.6% over the trailing 12 months and 8.8% in the quarter, while comparable sales grew 6.5% in the first quarter. He cited strength in luxury, jewelry, athleisure and juniors.
During the question-and-answer portion of the call, Simon pushed back on the idea that the company has leverage over retailers, saying retailers have multiple options, including online channels. Still, he said tenants increasingly want to discuss lease expirations beyond 2026, including 2027, 2028 and 2029.
Development Pipeline Totals Billions of Dollars Simon said the company has projects under construction at 29 centers, with its share of net costs at $1.06 billion and a blended yield of 9%. About half of the net cost is tied to mixed-use projects, including roughly 1,200 multifamily units at Brea Mall, Briarwood Mall and Northgate, along with more than 400 hotel keys at Northshore Mall, Roosevelt Field and The Domain.
The company also has redevelopments of former anchor boxes underway at Brea Mall and the Fashion Mall at Keystone, where it plans to add retail, restaurants, entertainment and fitness uses.
Simon said an additional $1 billion of projects could begin construction this year, including new developments, anchor redevelopments and international redevelopments and expansions. Beyond that, he said Simon has about $3 billion of projects in its pipeline that could start over the next several years.
He said the projects will be funded from internally generated cash flow and emphasized that the company has flexibility to adjust timing based on construction costs or market conditions. “We can be patient,” Simon said, adding that the company can also invest counter-cyclically.
Dividend Raised, Buybacks Continue Simon announced a second-quarter dividend of $2.25 per share, up $0.15, or 7.1%, from the prior-year period. The dividend is payable June 30.
The company repurchased approximately 965,000 shares of common stock in the first quarter for $175 million, at an average purchase price of $181.59. Simon said the company expects to continue to be active on buybacks but will remain prudent depending on market conditions.
On the balance sheet, McDade said Simon completed 10 secured loan transactions totaling about $2.3 billion at a weighted average interest rate of 5.25%. The company also issued $800 million of senior notes to repay $800 million of notes that matured Jan. 15 and amended, restated and extended its $5 billion revolving credit facility at a 15-basis-point lower pricing grid.
Simon ended the quarter with approximately $8.7 billion of liquidity. McDade said net debt to EBITDA was 5.0 times and the fixed charge coverage ratio was 4.6 times.
Consumer Trends and Portfolio Strategy Asked about the consumer, Simon said sales growth was broad-based, with the upper-end consumer performing well and hard luxury, jewelry and watches showing strong growth. He also cited strength in juniors brands that target Gen Z shoppers.
Food and beverage was “a touch softer,” Simon said, with comparable performance roughly flat. He also noted softness in tourist markets that rely on European and Canadian international travelers, while Florida markets, including Orlando, remained strong.
On leadership and capital allocation, Simon said the company is operating “business as usual” and does not expect a change in strategy. He said Simon will continue to evaluate development, acquisitions, share repurchases and dividends based on returns and shareholder value.
Simon also discussed the integration of Taubman assets, saying corporate integration was effectively completed by the end of April. He said the company is focused on reinvesting in assets including Green Hills in Nashville, International Plaza in Tampa and Cherry Creek in Denver, with more than $250 million of planned investment beginning later this year.
About Simon Property Group NYSE: SPGSimon Property Group, Inc NYSE: SPG is a publicly traded real estate investment trust (REIT) that owns, develops and manages retail real estate properties. Its core business activities include acquisition, development, leasing and property management of regional malls, outlet centers and mixed‑use retail destinations. The company operates retail brands that include high‑profile regional shopping centers and the Premium Outlets platform, and it provides services such as tenant leasing, marketing, property operations and capital projects to optimize asset performance.
Simon's portfolio spans a broad mix of enclosed malls, open‑air centers, outlet properties and mixed‑use developments, and the company pursues redevelopment and repositioning to adapt properties to changing consumer and retail trends.
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Key Takeaways O raised its 2026 investment target to $9.5B from $8.0B after deploying $2.8B in Q1.O's Q1 mix: $1.58B acquisitions, $155.8M development, plus $1.03B in loans and financing.O added an Apollo JV and a $1.7B fund raise; Q1 AFFO/share was $1.13, and occupancy hit 98.9%. Realty Income’s (O - Free Report) higher 2026 investment target looks like a clear vote of confidence in its deal pipeline. The REIT lifted expected investment volume to $9.5 billion from $8.0 billion after putting $2.8 billion to work in the first quarter, including $2.6 billion at its pro-rata share.
The company’s investments were not limited to one track. In the first quarter, Realty Income completed $1.58 billion of real estate acquisitions, added $155.8 million in development-related investments and made about $1.03 billion of other investments, including loans and construction financing. This mix shows a wider approach than simply buying more stores or warehouses.
Management is also leaning harder into structured investments. On the call, Realty Income said that credit deals are often designed with a path toward owning the real estate later. This includes a data center loan in Virginia and construction-related investments tied to its GIC partnership in Mexico, giving the company a way to enter projects before assets are fully stabilized.
Private capital is becoming an important support for this bigger investment plan. Realty Income formed a $1.0 billion Apollo-backed joint venture involving 492 retail properties and completed a $1.7 billion cornerstone capital raise for its U.S. Core Plus fund. These channels give the company more funding options beyond public equity markets.
The raised target also comes with operating support. AFFO per share rose 6.6% year over year to $1.13 in the first quarter, occupancy stayed at 98.9%, and rent recapture reached 103.4%. With $3.9 billion of available liquidity and leverage at 5.2X net debt to annualized pro forma adjusted EBITDAre, Realty Income appears to have room to keep investing while staying selective.
How Are SPG and FRT Investing for Growth?Simon Property Group (SPG - Free Report) is investing through development and redevelopment rather than chasing volume. Simon Property Group has projects under construction at 29 centers, with $1.06 billion of net cost and a 9% blended yield. Simon Property Group also sees another $1 billion able to start this year, which the company is funding internally.
Federal Realty (FRT - Free Report) is using capital recycling and targeted acquisitions to sharpen growth. It sold assets for $159 million, then bought Congressional North for $72 million at a 7% stabilized yield. Federal Realty has $400 million allocated to residential projects adding nearly 800 units. Federal Realty expects $27 million income stabilized.
O’s Price Performance, Valuation and EstimatesShares of Realty Income have gained 10.1% so far this year, underperforming the industry’s growth of 17%.
Image Source: Zacks Investment Research
From a valuation standpoint, O trades at a forward 12-month price-to-FFO of 13.81, below the industry but ahead of its one-year median of 13.44. It carries a Value Score of D.
Image Source: Zacks Investment Research
Over the past 30 days, estimates for both 2026 and 2027 FFO per share have been revised slightly downward.
Immersive fan experiences, exclusive retail, and high-energy events bring soccer excitement to Simon destinations nationwide
, /PRNewswire/ -- Simon®, a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment, and mixed-use destinations, is teaming up with adidas® to bring soccer fan experiences and programming to select Simon destinations this summer.
From large-scale block party experiences, to soccer watch parties, and exclusive adidas product releases and immersive in-store activations, these experiences are designed to bring the energy and culture of the global game to life.
Soccer at Simon adidas will host events at Del Amo Fashion Center® (June 14), Houston Premium Outlets® (June 18), Sawgrass Mills® (June 27), and Phipps Plaza® (July 15). Each event will feature interactive fan zones, adidas product experiences, and DJ performances, creating family-friendly environments that reflect soccer's vibrant, international spirit.
A larger-than-life adidas Match Ball installation will serve as a centerpiece of each block party and travel to additional Simon locations throughout the summer, offering fans an interactive, photo-driven moment inspired by the sport.
"Together with adidas we're creating an unforgettable fan experience across Simon destinations nationwide," said Lee Sterling, Simon's Chief Marketing Officer. "With adidas's deep connection to soccer and Simon's unmatched national reach, we're delivering engaging experiences that connect communities through a shared love of the game."
In addition to live events in select markets, adidas retail locations at 90 Simon centers will offer enhanced in-store activations, including limited-edition product, collectible merchandise, and scratch-off prizes with qualifying purchases extending fan engagement across the country.
This summer, Simon destinations will serve as gathering places for fans to experience the excitement, culture, and creativity inspired by soccer.
About adidas at Simon
adidas operates stores at approximately 90 Simon centers nationwide, offering soccer footwear, apparel, and accessories.
About Simon
Simon® is a real estate investment trust engaged in the ownership of premier shopping, dining, and entertainment mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales. For more information, visit simon.com.
Simon Property Group (SPG) remains a Buy, supported by robust Q1 results, a guidance boost, and a sustainable, growing dividend. SPG's accretive growth pipeline, 9% blended yield on $1.06B in projects, and low-rate debt underpin long-term value creation. Net debt/EBITDA at 5.0x and a recently extended $5B credit facility reinforce SPG's financial strength amid macro headwinds.
The fifth annual signature event, that rivals Black Friday, returns this summer with the best-ever deals and experiences from over 500 participating brands
, /PRNewswire/ -- Simon® a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations, today announced the return of the shopping event of the summer, National Outlet Shopping Day®, June 11-14, across Premium Outlets® and The Mills® locations nationwide.
Simon Premium Outlets and The Mills are America's premier outlet shopping destinations, home to thousands of the world's most sought-after brands and an unparalleled collection of luxury and designer outlet stores.
National Outlet Shopping Day® National Outlet Shopping Day returns to 90 locations nationwide, inviting shoppers to enjoy exceptional savings at destinations that are conveniently located near many of the country's most visited cities and travel hubs. From iconic properties such as Woodbury Common® one of the nation's top outlet centers located just one hour from New York City with 250+ stores set against the backdrop of the Hudson Valley; Desert Hills® roughly an hour from Los Angeles and home to 180+ stores in a striking desert landscape; and Sawgrass Mills®, one of the most impressive value retail shopping destinations in the country with 350+ stores, located in sunny Sunrise, FL. Simon's portfolio spans some of the highest performing and picturesque retail environments in the U.S.
Celebrating its fifth anniversary, this year's National Outlet Shopping Day will feature more exclusive offers than ever before, with around 6,000 offers from over 500 brands*. Shoppers can take advantage of a wide range of promotions, including discounts, deals, and gifts with purchase. Highlights include up to 40% off, 20% off $100 purchases, and buy one, get one offers on select food, services, and merchandise.
Simon+® members will receive double points on qualifying purchases all weekend and enjoy exclusive gifts and experiences with purchase*, including premium brand giveaways, VIP lounge access, customization stations, and complimentary tote bags while supplies last.
The event has experienced remarkable growth, with a more than 65% increase in shopper participation since its inaugural year, extending the experience to millions more consumers nationwide and underscoring the enduring appeal of Simon Premium Outlets and The Mills.
"National Outlet Shopping Day has become one of the most anticipated shopping events of the year because it's the perfect way to kick off summer," said Lee Sterling, Simon's Chief Marketing Officer. "Shoppers enjoy unreal deals from the world's best brands and score a fashion haul right before the barbeques and beach vacations. But it's the energy and excitement that truly sets the day apart. It's a celebration of savings, style, and of spending time together."
More than a savings event, National Outlet Shopping Day is a celebration of the shopping experience. Whether finding the perfect look, getting a second opinion from a friend, grabbing a coffee at one of the new Coach Coffee Shops, or capturing memories along the way, Simon offers an experience that makes every visit memorable.
For more information about National Outlet Shopping Day 2026 and to find participating locations, visit here. To stay on top of all the latest styles, offers and events, follow @theoutlets on Instagram and TikTok.
*Deals, experiences, and giveaways vary by property and Rewards Program Terms apply to participation in and the awarding of points and other benefits of Simon+.
About Simon
Simon® is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.
, /PRNewswire/ -- Simon Property Group, L.P., a global leader in the ownership of premier shopping, dining, entertainment and mixed-use destinations (the "Company"), today announced that its indirect subsidiary, Simon Global Development B.V., incorporated as a private limited liability company (besloten vennootschap met beperkte aansprakelijkheid) registered with the Dutch Trade Register of the Chamber of Commerce (the "Issuer"), has agreed to sell €500,000,000 principal amount of its 3.650% unsecured notes due 2031 (the "Notes") in an offering to non-U.S. persons outside the United States in reliance on Regulation S under the Securities Act of 1933, as amended (the "Securities Act"). The Notes will be fully and unconditionally guaranteed by the Company. This offering is expected to close on June 15, 2026, subject to customary closing conditions. The Notes are expected to be admitted on the Official List of the Luxembourg Stock Exchange and to trading on the Euro MTF Market.
The Company currently expects to use the net proceeds from the offering for general corporate purposes.
The Notes to be offered have not been, and will not be, registered under the Securities Act or applicable state or other securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from registration requirements.
This press release shall not constitute an offer to sell or a solicitation of an offer to purchase the Notes or any other securities, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act.
This press release has been prepared on the basis that any offer of the securities in any Member State of the European Economic Area ("EEA") (each, a "Relevant State") will be made pursuant to an exemption under Regulation (EU) 2017/1129, as amended (the "Prospectus Regulation"), from the requirement to publish a prospectus for offers of securities and in the United Kingdom will be made pursuant to an exception to the prohibition on public offers under the Public Offers and Admissions to Trading Regulations 2024.
In the United Kingdom, this press release is only being distributed to, and is only directed at, persons (i) that are "investment professionals" falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the "Order"), (ii) falling within Article 49(2)(a) to (d) ("high net worth companies, unincorporated associations, etc.") of the Order, or (iii) to whom an invitation or inducement to engage in investment activity (within the meaning of section 21 of the Financial Services and Markets Act 2000, as amended) in connection with the issue or sale of any securities may otherwise lawfully be communicated or caused to be communicated (all such persons together being referred to as "Relevant Persons"). This press release is directed only at Relevant Persons and must not be acted on or relied upon by persons who are not Relevant Persons. Any investment or investment activity to which this document relates is available only to Relevant Persons and will be engaged in only with Relevant Persons.
Forward-Looking Statements
Certain statements made in this press release may be deemed "forward–looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Although the Company believes the expectations reflected in any forward–looking statements are based on reasonable assumptions, the Company can give no assurance that its expectations will be attained, and it is possible that the Company's actual results may differ materially from those indicated by these forward–looking statements due to a variety of risks, uncertainties, and other factors. Such factors include, but are not limited to: the intensely competitive market environment in the retail real estate industry and the retail industry, including e-commerce; the inability to renew leases and relet vacant space at existing properties on favorable terms; the inability to collect rent due to the bankruptcy or insolvency of tenants or otherwise; the potential loss of anchor stores or major tenants; an increase in vacant space at the Company's properties; the loss of key management personnel; changes in economic and market conditions that may adversely affect the general retail environment, including but not limited to those caused by inflation, the impact of tariffs and global trade disruptions on the Company to the extent impacting its tenants, recessionary pressures, wars, escalating geopolitical tensions as a result of the war in Ukraine and the conflicts in the Middle East, and supply chain disruptions; the potential for violence, civil unrest, criminal activity or terrorist activities at the Company's properties; the availability of comprehensive insurance coverage; security breaches that could compromise the Company's information technology or infrastructure; changes in market rates of interest; the Company's international activities subjecting it to risks that are different from or greater than those associated with the Company's domestic operations, including changes in foreign exchange rates; the impact of the Company's substantial indebtedness on its future operations, including covenants in the governing agreements that impose restrictions on it that may affect the Company's ability to operate freely; any disruption in the financial markets that may adversely affect the Company's ability to access capital for growth and satisfy its ongoing debt service requirements; any change in the Company's credit rating or outlook; the Company's continued ability to maintain Company's status as a real estate investment trust (a "REIT") for U.S. federal income tax purposes; changes in tax laws or regulations that result in adverse tax consequences; risks associated with the acquisition, development, redevelopment, expansion, leasing and management of properties; the inability to lease newly developed properties on favorable terms; risks relating to the Company's joint venture properties, including guarantees of certain joint venture indebtedness; the effects of climate change; environmental liabilities; natural or other disasters; uncertainties regarding the impact of pandemics, epidemics or public health crises, and the associated governmental restrictions on the Company's business, financial condition, results of operations, cash flows and liquidity; and general risks related to real estate investments, including the illiquidity of real estate investments. The Company discusses these and other risks and uncertainties under the heading "Risk Factors" in its annual and quarterly periodic reports filed with the SEC. The Company may update that discussion in subsequent other periodic reports, but except as required by law, the Company undertakes no duty or obligation to update or revise these forward-looking statements, whether as a result of new information, future developments, or otherwise.
About Simon
Simon is a global leader in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.
It has been about a month since the last earnings report for Simon Property (SPG - Free Report) . Shares have added about 3% in that time frame, outperforming the S&P 500.
But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Simon Property due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its latest earnings report in order to get a better handle on the important catalysts.
Simon Property Q1 FFO Tops Estimates, Dividend and Guidance RaisedSimon Property Group started 2026 with a stronger-than-expected first quarter, delivering Real Estate FFO of $3.17 per share. The figure topped the Zacks Consensus Estimate of $2.98 by 6.4% and increased 7.5% year over year. Total revenues of $1.76 billion beat the consensus mark of $1.57 billion by 12.1% and rose 19.3% from the year-ago period.
The quarter reflected steady demand across the portfolio, with U.S. Malls and Premium Outlets ending occupancy at 96%. Management attributed the performance to continued leasing momentum, stronger retailer sales and traffic, and disciplined capital allocation.
Importantly, Simon Property also paired the solid quarter with a shareholder-friendly move. The company announced a higher quarterly dividend of $2.25 per share for the second quarter of 2026 and raised its full-year 2026 Real Estate FFO per share outlook to $13.10-$13.25, signaling confidence in operating momentum for the balance of the year.
Simon Property's Revenue Mix Shows Broad-Based LiftA key contributor to the quarter was growth across Simon’s core revenue streams. Lease income remained the dominant driver, supported by the company’s scale across malls, outlets and mixed-use destinations.
Beyond core rent, Simon also benefited from higher management fees and other revenues. The combined uplift helped reinforce operating leverage as portfolio-level activity improved.
Simon's Property Metrics Point to Pricing PowerOperating fundamentals remained firm across Simon’s U.S. Malls and Premium Outlets. Base minimum rent per square foot climbed to $61.99 at quarter-end, up 5.2% from a year earlier, reflecting positive leasing spreads and continued tenant demand.
Shopper productivity also continued to improve. Reported retailer sales per square foot rose to $819 for the trailing 12 months ended March 31, 2026, an 11.8% increase year over year. Higher sales and traffic trends typically support leasing velocity and landlord pricing over time.
Simon Property Highlights NOI Growth and Leasing CadenceOperating performance also translated into stronger property-level profitability. Domestic property NOI increased 6.7% from the prior-year quarter, with portfolio NOI up the same amount, underscoring broad-based improvement across the platform.
On the earnings call, management added color on leasing volume and execution. Simon signed more than 1,100 leases totaling more than 4.7 million square feet during the quarter, with roughly 25% of leasing volume coming from new deals. The company also noted that it had completed more than 75% of its 2026 expirations, positioning it well as the year progresses.
Simon Property Keeps Liquidity Ample, Taps Multiple MarketsSimon ended the quarter with approximately $8.7 billion of liquidity, consisting of $1.2 billion of cash on hand (including its share of joint venture cash) and $7.5 billion of available capacity under revolving credit facilities. This level of flexibility supports ongoing investment activity and potential opportunistic capital actions.
During the quarter, the company executed 10 secured loan transactions totaling about $2.3 billion (U.S. dollar equivalent) at a weighted average interest rate of 5.25%. Simon also completed an $800 million senior notes offering with a five-year term and a 4.30% coupon, using proceeds to repay $800 million of notes at maturity. The company amended, restated and extended its $5 billion multi-currency revolving credit facility, with an initial maturity of June 30, 2030, and an option to extend to 2031.
Simon Raises 2026 Real Estate FFO OutlookReflecting the stronger start to the year, Simon increased its full-year 2026 Real Estate FFO per share guidance to a range of $13.10-$13.25, lifting the midpoint by 5 cents from the prior outlook of $13.00-$13.25.
The company reiterated that it expects an earnings headwind of roughly 25 to 30 cents per share from higher interest expense and lower interest income, with the current environment trending closer to the lower end of that range.
Simon Steps Up Shareholder ReturnsSimon paired operating strength with higher cash returns to shareholders. The board declared a quarterly common stock dividend of $2.25 for the second quarter of 2026, representing a 7.1% year-over-year increase and a 2.3% sequential rise.
The company also remained active on repurchases, buying back 965,296 shares for approximately $175 million during the quarter. The combination of a higher dividend and continued buybacks signals confidence in cash-flow generation and balance sheet flexibility.
How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a upward trend in estimates review.
VGM ScoresAt this time, Simon Property has a poor Growth Score of F, however its Momentum Score is doing a lot better with an A. However, the stock was allocated a score of C on the value side, putting it in the middle 20% for value investors.
Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Simon Property has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry PlayerSimon Property belongs to the Zacks REIT and Equity Trust - Retail industry. Another stock from the same industry, Federal Realty Investment Trust (FRT - Free Report) , has gained 7.7% over the past month. More than a month has passed since the company reported results for the quarter ended March 2026.
Federal Realty Investment Trust reported revenues of $341.08 million in the last reported quarter, representing a year-over-year change of +10.3%. EPS of $1.81 for the same period compares with $1.70 a year ago.
For the current quarter, Federal Realty Investment Trust is expected to post earnings of $1.85 per share, indicating a change of -3.1% from the year-ago quarter. The Zacks Consensus Estimate has changed +0.2% over the last 30 days.
Federal Realty Investment Trust has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of D.
Hot dog lovers nationwide can tune in live on FOX as Team Corn Dog makes its race-day debut at Indianapolis Motor Speedway
CHICAGO & PITTSBURGH--(BUSINESS WIRE)--After a breakout debut that quickly became a summer sensation — drawing 85,000 fans in the stands and 8 million streaming live via the Fox Sports app and @INDYCARonFOX social platforms — Oscar Mayer is firing up the grills and revving up for the second annual Wienie 500. Returning Friday, May 22, all six Wienermobiles will haul buns to the legendary Indianapolis Motor Speedway for a high-stakes race to crown the Top Dog. The race kicks off summer, proving that even the most unexpected places — like a professional racetrack — are the perfect setting for an Oscar Mayer wiener. Now back for another lap, the Wienie 500 brings new competition, refreshed race-day livery, special guests and can’t-miss entertainment — all broadcast live on FOX.
Earlier this year, Oscar Mayer handed the keys to fans with its first-ever “Pick Your Dog” bracket, letting America decide who would claim the coveted sixth spot. The results? Corn Dog is officially in, bumping Sonoran Dog and joining Chi Dog (Midwest), New York Dog (East), Chili Dog (South), Seattle Dog (Northwest) and reigning champion Slaw Dog (Southeast) in a high-stakes race around the Brickyard to see who cuts the mustard. With a new contender in the mix, teams are hungrier than ever and ready to show off their well-cooked strategy to make it to the “Wieners Circle.”
All six Wienermobiles and racing suits will debut new colors, decals and designs, and for the first time in over a decade, the brand is dropping limited-edition Wiener Whistles to mark the occasion. And this year, Oscar Mayer is bringing serious horsepower: Nolan Siegel, Stingray Rob, Scott McLaughlin and fellow INDYCAR SERIES drivers will coach the Hotdoggers, offering pro-level racing tips as teams compete for the coveted Borg-Wiener Trophy. Together, it’s a one-of-a-kind delightful racing experience only Oscar Mayer can deliver.
Fans at home can get in on the bun-derful action by purchasing exclusive Wienie 500 merchandise at shop.ims.com and casting their vote for who will take Top Dog on Instacart — correct predictions will score free Oscar Mayer wieners while supplies last.
“Last year’s inaugural race proved the Wienie 500 is more than just a one-time spectacle, it’s a real race cemented in culture,” said Kelsey Rice, Brand Communications Director at Oscar Mayer. “This year, we are turbo-charging all race elements to give fans a fresh take on the disarmingly delightful experience they fell in love with year one. From ushering in Team Corn Dog to bringing in the pros, we are going all-in to encourage fans everywhere to pick up Oscar Mayer wieners, kick off summer and enjoy the ride with us.”
Race day coverage begins live on FOX and FOX One at 2:00pm ET on Friday, May 22. FOX INDYCAR play-by-play announcer Will Buxton again calls the race alongside FOX INDYCAR analysts Townsend Bell and James Hinchcliffe, with pit reporting by Georgia Henneberry and Kevin Lee. For more information on the meatiest race in motorsports, including how to purchase tickets, attend watch parties at Tom’s Watch Bar locations across the country and get in on other fan engagement opportunities, follow @OscarMayer, @Wienermobile, @IndianapolisMotorSpeedway and @IndyCarOnFox on Instagram and TikTok.
*To learn more about the Instacart promotion see official rules HERE.
ABOUT THE KRAFT HEINZ COMPANY
Kraft Heinz (Nasdaq: KHC) is one of the world’s largest food and beverage companies, with approximately $25 billion in net sales in 2025 and a portfolio of iconic brands enjoyed by consumers in more than 40 countries. By investing in our capabilities and brands, including Heinz, Kraft, Philadelphia, Primal Kitchen, and Lunchables, we are unlocking the full power of our portfolio. We deliver high-quality, great-tasting, and affordable food for the consumers of today, while shaping the future of food. Learn more at www.kraftheinzcompany.com.
After a breakout debut that quickly became a summer sensation — drawing 85,000 fans in the stands and 8 million streaming live via the Fox Sports app and @INDYCARonFOX social platforms — Oscar Mayer is firing up the grills and revving up for the second annual Wienie 500. Returning Friday, May 22, all six Wienermobiles will haul buns to the legendary Indianapolis Motor Speedway for a high-stakes race to crown the Top Dog. The race kicks off summer, proving that even the most unexpected places — like a professional racetrack — are the perfect setting for an Oscar Mayer wiener. Now back for another lap, the Wienie 500 brings new competition, refreshed race-day livery, special guests and can’t-miss entertainment — all broadcast live on FOX.
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Oscar Mayer is firing up the grills and revving up for the second annual Wienie 500. Returning Friday, May 22, all six Wienermobiles will haul buns to the legendary Indianapolis Motor Speedway for a high-stakes race to crown the Top Dog.
Earlier this year, Oscar Mayer handed the keys to fans with its first-ever “Pick Your Dog” bracket, letting America decide who would claim the coveted sixth spot. The results? Corn Dog is officially in, bumping Sonoran Dog and joining Chi Dog (Midwest), New York Dog (East), Chili Dog (South), Seattle Dog (Northwest) and reigning champion Slaw Dog (Southeast) in a high-stakes race around the Brickyard to see who cuts the mustard. With a new contender in the mix, teams are hungrier than ever and ready to show off their well-cooked strategy to make it to the “Wieners Circle.”
All six Wienermobiles and racing suits will debut new colors, decals and designs, and for the first time in over a decade, the brand is dropping limited-edition Wiener Whistles to mark the occasion. And this year, Oscar Mayer is bringing serious horsepower: Nolan Siegel, Stingray Rob, Scott McLaughlin and fellow INDYCAR SERIES drivers will coach the Hotdoggers, offering pro-level racing tips as teams compete for the coveted Borg-Wiener Trophy. Together, it’s a one-of-a-kind delightful racing experience only Oscar Mayer can deliver.
Fans at home can get in on the bun-derful action by purchasing exclusive Wienie 500 merchandise at shop.ims.com and casting their vote for who will take Top Dog on Instacart — correct predictions will score free Oscar Mayer wieners while supplies last.
“Last year’s inaugural race proved the Wienie 500 is more than just a one-time spectacle, it’s a real race cemented in culture,” said Kelsey Rice, Brand Communications Director at Oscar Mayer. “This year, we are turbo-charging all race elements to give fans a fresh take on the disarmingly delightful experience they fell in love with year one. From ushering in Team Corn Dog to bringing in the pros, we are going all-in to encourage fans everywhere to pick up Oscar Mayer wieners, kick off summer and enjoy the ride with us.”
Race day coverage begins live on FOX and FOX One at 2:00pm ET on Friday, May 22. FOX INDYCAR play-by-play announcer Will Buxton again calls the race alongside FOX INDYCAR analysts Townsend Bell and James Hinchcliffe, with pit reporting by Georgia Henneberry and Kevin Lee. For more information on the meatiest race in motorsports, including how to purchase tickets, attend watch parties at Tom’s Watch Bar locations across the country and get in on other fan engagement opportunities, follow @OscarMayer, @Wienermobile, @IndianapolisMotorSpeedway and @IndyCarOnFox on Instagram and TikTok.
*To learn more about the Instacart promotion see official rules HERE.
ABOUT THE KRAFT HEINZ COMPANY
Kraft Heinz (Nasdaq: KHC) is one of the world’s largest food and beverage companies, with approximately $25 billion in net sales in 2025 and a portfolio of iconic brands enjoyed by consumers in more than 40 countries. By investing in our capabilities and brands, including Heinz, Kraft, Philadelphia, Primal Kitchen, and Lunchables, we are unlocking the full power of our portfolio. We deliver high-quality, great-tasting, and affordable food for the consumers of today, while shaping the future of food. Learn more at www.kraftheinzcompany.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260518955069/en/
PITTSBURGH & CHICAGO--(BUSINESS WIRE)--For more than 125 years, JELL-O has brought colorful, jiggly fun to dessert tables across America. Now, one of the country's most iconic food brands is entering a new era. Today, the brand announces the launch of JELL-O Simply, a new line featuring the delicious and colorful desserts families have loved for generations, now made with no FD&C colors or artificial sweeteners. Made with real fruit juice and 25% less sugar in the ready-to-eat gelatin line,.
Mild Cheddar and Mozzarella Shreds plus Mozzarella String Cheese Deliver Great Taste Without Lactose
CHICAGO--(BUSINESS WIRE)--Kraft® Natural Cheese announced the launch of its new Lactose-Free product line, expanding its portfolio to meet growing demand for dairy options that support a range of dietary needs without compromising on taste.
Available in three varieties – Mild Cheddar Shredded Cheese, Mozzarella Shredded Cheese and Mozzarella String Cheese – each new product is made with real dairy and delivers the flavor consumers know and love, but now with 0g of lactose.
“As consumer needs continue to evolve, we are focused on delivering products that make it easier for more people to enjoy the foods they love,” said Dhriti Batra, Director of Kraft Natural Cheese at Lactalis Heritage Dairy. “Our Lactose-Free shreds and string cheese bring the same trusted taste and quality that Kraft Natural Cheese is known for, but now in a way that fits seamlessly into more lifestyles and everyday routines.”
Kraft Natural Cheese’s new Lactose-Free products are crafted with added lactase, an enzyme commonly used in lactose-free milk that helps break down lactose, and are designed for versatility across everyday meals and snacks. The shredded varieties come in a resealable pouch for freshness and melt easily into recipes, like your favorite pastas, wraps, salads, baked potatoes and more, while the Mozzarella String Cheese offers a convenient, on-the-go snacking option with 12 individually wrapped portions per bag.
The Kraft Natural Cheese Lactose-Free product line is now available at select national retailers with additional doors to follow in the coming months.
For more information and for recipe inspiration, visit www.kraftnaturalcheese.com or follow the brand on Instagram @kraft.naturalcheese.
About Kraft Natural Cheese
Kraft Natural Cheese has been a trusted household name since 1904, delivering exceptional quality and flavor to mealtimes around the world. With a commitment to craftsmanship and innovation, Kraft Natural Cheese continues to be the go-to choice for families and food enthusiasts alike with its broad portfolio of natural cheeses including shreds, chunks and slices. As part of the Lactalis Heritage Dairy portfolio of brands, Kraft Natural Cheese has more than 150+ years of combined dairy experience reflected in its cheesemaking. For more information and for recipe inspiration, visit www.kraftnaturalcheese.com or follow the brand on Instagram @kraft.naturalcheese.
About Lactalis USA
Lactalis USA is committed to enriching lives by producing nutritious and great-tasting dairy products. The company offers an unrivaled house of beloved dairy brands in the United States including Galbani® Italian cheeses, Président® specialty cheeses and gourmet butters, Kraft® brands in natural and grated cheeses, Breakstone’s® cottage cheese, ricotta and sour cream, Cracker Barrel® cheese, Black Diamond® cheddar cheese, Parmalat® milk, yogurt brands such as siggi’s®, Stonyfield Organic®, Brown Cow™, Green Mountain Creamery®, Mountain High®, Yoplait®, Go-Gurt®, :ratio®, Oui® and Karoun®, Gopi®, Arz® and other brands in the ethnic channel. The following registered trademarks are used under license: Yoplait® Go-Gurt®, and Oui® owned by Yoplait Marques SNC, and KRAFT® owned by Kraft Foods.
In the United States, the company has approximately 5,000 employees, with 13 manufacturing facilities located in 9 states, and corporate offices in New York City, San Fernando, Calif., Chicago, Ill., Minneapolis, Minn., Buffalo, N.Y. and Bedford, N.H. Lactalis USA is part of Lactalis Group, the world’s leading dairy company, a French family business founded in 1933 in Laval, France.
For more information about Lactalis USA’s divisions, visit www.lactalisamericangroup.com
PITTSBURGH & CHICAGO--(BUSINESS WIRE)--The Kraft Heinz Company (“Kraft Heinz”) (Nasdaq: KHC) announced today the early tender results, as of 5:00 p.m., New York City time, on May 20, 2026 (the “Early Tender Time”), and the satisfaction of the condition to receive proceeds of an offering of new senior unsecured notes on terms satisfactory to the Issuer (the “Financing Condition”), in each case in respect of the previously announced offer by Kraft Heinz Foods Company, its 100% owned subsidiary (the “Issuer”), to purchase for cash (the “Tender Offer”) up to the maximum combined aggregate purchase price of $1,100,000,000, excluding accrued and unpaid interest (the “Maximum Tender Amount”), of its outstanding 4.375% Senior Notes due June 2046 (the “2046 Notes”) and its 4.875% Senior Notes due October 2049 (the “2049 Notes” and, together with the 2046 Notes, the “Notes” and each, a “Series” of Notes), from each registered holder of the Notes (the “Holders”), pursuant to the terms and subject to the conditions set forth in the offer to purchase dated May 7, 2026 (the “Offer to Purchase”). Capitalized terms used in this release but not otherwise defined have the meaning given in the Offer to Purchase.
The following table sets forth certain information regarding the Notes and the Tender Offer, including the aggregate principal amount of Notes that were validly tendered and not validly withdrawn as of the Early Tender Time according to Global Bondholder Services Corporation, the Tender Agent and Information Agent for the Tender Offer:
Kraft Heinz also announced that, with respect to the Notes validly tendered and not validly withdrawn at or prior to the Early Tender Time, the Issuer has elected to have an early settlement date with payment for such Notes to occur on May 26, 2026.
The deadline to withdraw Notes tendered in the Tender Offer was 5:00 p.m. New York City time, on May 20, 2026, which deadline has not been extended (such date and time, the “Withdrawal Date”). Accordingly, Notes tendered at or prior to the Withdrawal Date may no longer be withdrawn, except in certain limited circumstances where the Issuer determines that additional withdrawal rights are required by law. Subject to applicable law, the Issuer has reserved the right, in its sole discretion, to at any time (i) waive any and all conditions to the Tender Offer, (ii) extend, terminate, or withdraw the Tender Offer, (iii) increase or waive the Maximum Tender Amount, with or without extending the Withdrawal Date, or (iv) otherwise amend the Tender Offer in any respect.
The applicable Total Consideration for each $1,000 principal amount of Notes validly tendered and accepted for purchase will be determined in the manner described in the Offer to Purchase by reference to the Fixed Spread for the applicable Series specified on the front cover of the Offer to Purchase over the applicable Reference Yield based on the bid-side price of the applicable Reference Treasury Security specified on the front cover of the Offer to Purchase, as calculated by the Dealer Managers (as defined below) at 10:00 a.m. New York City time, on May 21, 2026 (such time and date, the “Price Determination Date”).
Because the maximum combined aggregate purchase price, excluding accrued and unpaid interest, of the Notes validly tendered and not validly withdrawn at or prior to the Early Tender Time is expected to exceed the Maximum Tender Amount, Kraft Heinz expects to accept for purchase Notes validly tendered and not validly withdrawn in accordance with the Acceptance Priority Levels set forth in the table above. If the aggregate purchase price, excluding accrued and unpaid interest, of the Notes that are validly tendered and not validly withdrawn at or prior to the Early Tender Time is greater than the Maximum Tender Amount, the Notes of the Series, the acceptance of which would result in the Maximum Tender Amount being exceeded, will be accepted for purchase on a prorated basis in accordance with the terms set forth in the Offer to Purchase. The Issuer will not accept for purchase any Notes tendered after the Early Tender Time. Notes tendered and not accepted for purchase will be promptly returned or credited to the applicable Holder’s account.
The Tender Offer will expire at 5:00 p.m., New York City time, on June 5, 2026, unless extended with respect to a Series of Notes (such time and date, as they may be extended, the “Expiration Time”) or earlier terminated as described in the Offer to Purchase.
Kraft Heinz has engaged BofA Securities, Inc. (“BofA Securities”), Citigroup Global Markets Inc. (“Citigroup”), Deutsche Bank Securities Inc. (“Deutsche Bank Securities”) and Goldman Sachs & Co. LLC (“Goldman Sachs”) to act as dealer managers (collectively, the “Dealer Managers”) in connection with the Tender Offer and has appointed Global Bondholder Services Corporation to serve as the Tender Agent and Information Agent for the Tender Offer. Copies of the Offer to Purchase are available at https://www.gbsc-usa.com/kraftheinzcompany/ or by contacting Global Bondholder Services Corporation via telephone at (855) 654-2015 (toll free) or (212) 430-3774 (for banks and brokers). Questions regarding the terms of the Tender Offer should be directed to BofA Securities at (888) 292-0070 (toll-free) or (980) 387-3907 (collect); Citigroup at (800) 558-3745 (toll-free) or (212) 723-6106 (collect); Deutsche Bank Securities at (866) 627-0391 (toll-free) or (212) 250-2955 (collect); or Goldman Sachs at (800) 828-3182 (toll-free) or (212) 357-1452 (collect).
None of the Issuer, Kraft Heinz, their boards of directors or boards of managers, as applicable, the Dealer Managers, Global Bondholder Services Corporation, the Trustee for the Notes, or any of their respective affiliates, is making any recommendation as to whether Holders should tender any Notes in response to the Tender Offer. Holders must make their own decision as to whether to tender any of their Notes and, if so, the principal amounts of Notes to tender.
This press release is for informational purposes only and is not an offer to purchase, a solicitation of an offer to purchase, or a solicitation of consents with respect to any securities. This press release does not describe all the material terms of the Tender Offer, and no decision should be made by any Holder on the basis of this press release. The terms and conditions of the Tender Offer are described in the Offer to Purchase, and this press release must be read in conjunction with the Offer to Purchase. The Offer to Purchase contains important information that should be read carefully before any decision is made with respect to the Tender Offer. The Tender Offer is not being made in any jurisdiction in which, or to or from any person to or from whom, it is unlawful to make such offer or solicitation under applicable securities or blue sky laws. If any Holder is in any doubt as to the contents of this press release, or the Offer to Purchase, or the action it should take, the Holder should seek its own financial and legal advice, including in respect of any tax consequences, immediately from its stockbroker, bank manager, solicitor, accountant, or other independent financial, tax, or legal adviser. Any individual or company whose Notes are held on its behalf by a broker, dealer, bank, custodian, trust company, or other nominee must contact such entity if it wishes to tender such Notes pursuant to the Tender Offer.
ABOUT THE KRAFT HEINZ COMPANY
Kraft Heinz (Nasdaq: KHC) is one of the world’s largest food and beverage companies, with approximately $25 billion in net sales in 2025 and a portfolio of iconic brands enjoyed by consumers in more than 40 countries. By investing in our capabilities and brands, including Heinz, Kraft, Philadelphia, Primal Kitchen, and Lunchables, we are unlocking the full power of our portfolio. We deliver high‑quality, great‑tasting, and affordable food for the consumers of today, while shaping the future of food.
Forward-Looking Statements
This press release contains certain statements that may be considered “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, and within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts and may be identified by words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “project,” “could,” “should,” “will,” “would,” and variations of such words and similar future or conditional expressions are intended to identify forward-looking statements. Examples of forward-looking statements include, but are not limited to, statements regarding the anticipated timing and completion of the Tender Offer; the expected aggregate principal amount of Notes to be purchased in the Tender Offer; and any other statements regarding the plans, expectations, or intentions with respect to the Tender Offer.
These forward-looking statements reflect management’s current expectations, estimates and assumptions, and are not guarantees of future performance and are subject to a number of risks and uncertainties, many of which are difficult to predict and beyond Kraft Heinz’s control. Such risks, uncertainties, and other factors include, but are not limited to: Kraft Heinz’s ability to consummate the Tender Offer on the terms and conditions or the timeline described in the Offer to Purchase, or at all; the satisfaction or waiver of the conditions to the Tender Offer; changes in laws, regulations, or regulatory interpretations that may affect Kraft Heinz’s ability to consummate the Tender Offer; the aggregate principal amount of Notes of each series ultimately tendered and the level of participation of Holders in the Tender Offer; the timing of the settlement of the Tender Offer; and volatility of capital markets and other macroeconomic factors. For additional information on other factors that could affect the Kraft Heinz’s forward-looking statements, see Kraft Heinz’s risk factors, as they may be amended from time to time, set forth in its filings with the Securities and Exchange Commission (the “SEC”). Any forward-looking statement made in this press release speaks only as of the date hereof and is expressly qualified in its entirety by the cautionary statements set forth herein and the risk factors and other cautionary statements contained in Kraft Heinz’s filings with the SEC. Kraft Heinz disclaims and does not undertake any obligation to update, revise, or withdraw any forward-looking statement in this press release, except as required by applicable law or regulation. Readers are cautioned not to place undue reliance on any forward-looking statements.
PITTSBURGH & CHICAGO--(BUSINESS WIRE)--The Kraft Heinz Company (“Kraft Heinz”) (Nasdaq: KHC) announced today the pricing terms and the accepted tender amounts in respect of the previously announced offer by Kraft Heinz Foods Company, its 100% owned subsidiary (the “Issuer”), to purchase for cash (the “Tender Offer”) up to the maximum combined aggregate purchase price of $1,100,000,000, excluding accrued and unpaid interest (the “Maximum Tender Amount”), of its outstanding 4.375% Senior Notes due June 2046 (the “2046 Notes”) and its 4.875% Senior Notes due October 2049 (the “2049 Notes” and, together with the 2046 Notes, the “Notes” and each, a “Series” of Notes), from each registered holder of the Notes (the “Holders”), pursuant to the terms and subject to the conditions set forth in the offer to purchase dated May 7, 2026 (the “Offer to Purchase”). Capitalized terms used in this release but not otherwise defined have the meaning given in the Offer to Purchase.
The applicable total consideration for each $1,000 principal amount of Notes validly tendered and accepted for purchase (the “Total Consideration”) was determined in the manner described in the Offer to Purchase by reference to the Fixed Spread (as defined below) for the applicable Series specified below over the applicable Reference Yield (as defined below) based on the bid-side price of the applicable Reference Treasury Security specified below, as calculated by the Dealer Managers (as defined below), today at 10:00 a.m. New York City time.
Because the maximum combined aggregate purchase price, excluding accrued and unpaid interest, of the 2046 Notes validly tendered and not validly withdrawn at or prior to 5:00 p.m., New York City time, on May 20, 2026 (the “Early Tender Time”), exceeded the Maximum Tender Amount, the Issuer accepts for purchase $1,379,414,000 in aggregate principal amount of the 2046 Notes validly tendered and not validly withdrawn at or prior to the Early Tender Time (representing approximately 49.51% of the aggregate principal amount of 2046 Notes outstanding), using a proration factor of approximately 78.77% in accordance with the terms and subject to the conditions set forth in the Offer to Purchase, so that the maximum principal amount of the 2046 Notes accepted for purchase does not result in the maximum combined aggregate purchase price (excluding accrued and unpaid interest) exceeding the Maximum Tender Amount. The Issuer will not accept for purchase any of the 2049 Notes validly tendered and not validly withdrawn at or prior to the Early Tender Time, or any Notes tendered after the Early Tender Time. Notes tendered and not accepted for purchase will be promptly returned or credited to the applicable Holder’s account.
The Issuer will pay Holders who validly tendered and did not validly withdraw their 2046 Notes at or prior to the Early Tender Time, and whose 2046 Notes have been accepted for purchase, the applicable Total Consideration, inclusive of the applicable Early Tender Premium, as set forth in the table above.
Settlement for the 2046 Notes that were validly tendered and not validly withdrawn at or prior to the Early Tender Time and that are accepted for purchase will occur on May 26, 2026 (the “Early Settlement Date”), the third business day after the Early Tender Time.
The Tender Offer will expire at 5:00 p.m. New York City time, on June 5, 2026, unless extended with respect to a Series of Notes (such time and date, as they may be extended, the “Expiration Time”) or earlier terminated as described in the Offer to Purchase.
Kraft Heinz has engaged BofA Securities, Inc. (“BofA Securities”), Citigroup Global Markets Inc. (“Citigroup”), Deutsche Bank Securities Inc. (“Deutsche Bank Securities”) and Goldman Sachs & Co. LLC (“Goldman Sachs”) to act as dealer managers (collectively, the “Dealer Managers”) in connection with the Tender Offer and has appointed Global Bondholder Services Corporation to serve as the Tender Agent and Information Agent for the Tender Offer. Copies of the Offer to Purchase are available at https://www.gbsc-usa.com/kraftheinzcompany/ or by contacting Global Bondholder Services Corporation via telephone at (855) 654-2015 (toll free) or (212) 430-3774 (for banks and brokers). Questions regarding the terms of the Tender Offer should be directed to BofA Securities at (888) 292-0070 (toll-free) or (980) 387-3907 (collect); Citigroup at (800) 558-3745 (toll-free) or (212) 723-6106 (collect); Deutsche Bank Securities at (866) 627-0391 (toll-free) or (212) 250-2955 (collect); or Goldman Sachs at (800) 828-3182 (toll-free) or (212) 357-1452 (collect).
None of the Issuer, Kraft Heinz, their boards of directors or boards of managers, as applicable, the Dealer Managers, Global Bondholder Services Corporation, the Trustee for the Notes, or any of their respective affiliates, is making any recommendation as to whether Holders should tender any Notes in response to the Tender Offer. Holders must make their own decision as to whether to tender any of their Notes and, if so, the principal amounts of Notes to tender.
This press release is for informational purposes only and is not an offer to purchase, a solicitation of an offer to purchase, or a solicitation of consents with respect to any securities. This press release does not describe all the material terms of the Tender Offer, and no decision should be made by any Holder on the basis of this press release. The terms and conditions of the Tender Offer are described in the Offer to Purchase, and this press release must be read in conjunction with the Offer to Purchase. The Offer to Purchase contains important information that should be read carefully before any decision is made with respect to the Tender Offer. The Tender Offer is not being made in any jurisdiction in which, or to or from any person to or from whom, it is unlawful to make such offer or solicitation under applicable securities or blue sky laws. If any Holder is in any doubt as to the contents of this press release, or the Offer to Purchase, or the action it should take, the Holder should seek its own financial and legal advice, including in respect of any tax consequences, immediately from its stockbroker, bank manager, solicitor, accountant, or other independent financial, tax, or legal adviser. Any individual or company whose Notes are held on its behalf by a broker, dealer, bank, custodian, trust company, or other nominee must contact such entity if it wishes to tender such Notes pursuant to the Tender Offer.
ABOUT THE KRAFT HEINZ COMPANY
Kraft Heinz (Nasdaq: KHC) is one of the world’s largest food and beverage companies, with approximately $25 billion in net sales in 2025 and a portfolio of iconic brands enjoyed by consumers in more than 40 countries. By investing in our capabilities and brands, including Heinz, Kraft, Philadelphia, Primal Kitchen, and Lunchables, we are unlocking the full power of our portfolio. We deliver high‑quality, great‑tasting, and affordable food for the consumers of today, while shaping the future of food.
Forward-Looking Statements
This press release contains certain statements that may be considered “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, and within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts and may be identified by words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “project,” “could,” “should,” “will,” “would,” and variations of such words and similar future or conditional expressions are intended to identify forward-looking statements. Examples of forward-looking statements include, but are not limited to, statements regarding the anticipated timing and completion of the Tender Offer; the expected aggregate principal amount of Notes to be purchased in the Tender Offer; and any other statements regarding the plans, expectations, or intentions with respect to the Tender Offer.
These forward-looking statements reflect management’s current expectations, estimates and assumptions, and are not guarantees of future performance and are subject to a number of risks and uncertainties, many of which are difficult to predict and beyond Kraft Heinz’s control. Such risks, uncertainties, and other factors include, but are not limited to: Kraft Heinz’s ability to consummate the Tender Offer on the terms and conditions or the timeline described in the Offer to Purchase, or at all; the satisfaction or waiver of the conditions to the Tender Offer; changes in laws, regulations, or regulatory interpretations that may affect Kraft Heinz’s ability to consummate the Tender Offer; the aggregate principal amount of Notes of each series ultimately tendered and the level of participation of Holders in the Tender Offer; the timing of the settlement of the Tender Offer; and volatility of capital markets and other macroeconomic factors. For additional information on other factors that could affect the Kraft Heinz’s forward-looking statements, see Kraft Heinz’s risk factors, as they may be amended from time to time, set forth in its filings with the Securities and Exchange Commission (the “SEC”). Any forward-looking statement made in this press release speaks only as of the date hereof and is expressly qualified in its entirety by the cautionary statements set forth herein and the risk factors and other cautionary statements contained in Kraft Heinz’s filings with the SEC. Kraft Heinz disclaims and does not undertake any obligation to update, revise, or withdraw any forward-looking statement in this press release, except as required by applicable law or regulation. Readers are cautioned not to place undue reliance on any forward-looking statements.
Kraft Heinz Announces Pricing Terms and the Accepted Tender Amounts for the Cash Tender Offer for Up To $1.1 Billion Aggregate Purchase Price of Certain of Its Outstanding Notes The Kraft Heinz Company (“Kraft Heinz”) (Nasdaq: KHC) announced today the pricing terms and the accepted tender amounts in respect of the previously announced offer by Kraft Heinz Foods Company, its 100% owned subsidiary (the “Issuer”), to purchase for cash (the “Tender Offer”) up to the maximum combined aggregate purchase price of $1,100,000,000, excluding accrued and unpaid interest (the “Maximum Tender Amount”), of its outstanding 4.375% Senior Notes due June 2046 (the “2046 Notes”) and its 4.875% Senior Notes due October 2049 (the “2049 Notes” and, together with the 2046 Notes, the “Notes” and each, a “Series” of Notes), from each registered holder of the Notes (the “Holders”), pursuant to the terms and subject to the conditions set forth in the offer to purchase dated May 7, 2026 (the “Offer to Purchase”). Capitalized terms used in this release but not otherwise defined have the meaning given in the Offer to Purchase.
The applicable total consideration for each $1,000 principal amount of Notes validly tendered and accepted for purchase (the “Total Consideration”) was determined in the manner described in the Offer to Purchase by reference to the Fixed Spread (as defined below) for the applicable Series specified below over the applicable Reference Yield (as defined below) based on the bid-side price of the applicable Reference Treasury Security specified below, as calculated by the Dealer Managers (as defined below), today at 10:00 a.m. New York City time.
The Total Consideration for each Series validly tendered prior to or at the applicable Early Tender Time (as defined below) and accepted for purchase is calculated using the applicable Fixed Spread (as defined below) and is inclusive of the applicable Early Tender Premium (as defined below).
(2)
Per $1,000 principal amount of Notes validly tendered and not validly withdrawn at or prior to the Early Tender Time and accepted for purchase (the “Early Tender Premium”).
Because the maximum combined aggregate purchase price, excluding accrued and unpaid interest, of the 2046 Notes validly tendered and not validly withdrawn at or prior to 5:00 p.m., New York City time, on May 20, 2026 (the “Early Tender Time”), exceeded the Maximum Tender Amount, the Issuer accepts for purchase $1,379,414,000 in aggregate principal amount of the 2046 Notes validly tendered and not validly withdrawn at or prior to the Early Tender Time (representing approximately 49.51% of the aggregate principal amount of 2046 Notes outstanding), using a proration factor of approximately 78.77% in accordance with the terms and subject to the conditions set forth in the Offer to Purchase, so that the maximum principal amount of the 2046 Notes accepted for purchase does not result in the maximum combined aggregate purchase price (excluding accrued and unpaid interest) exceeding the Maximum Tender Amount. The Issuer will not accept for purchase any of the 2049 Notes validly tendered and not validly withdrawn at or prior to the Early Tender Time, or any Notes tendered after the Early Tender Time. Notes tendered and not accepted for purchase will be promptly returned or credited to the applicable Holder’s account.
The Issuer will pay Holders who validly tendered and did not validly withdraw their 2046 Notes at or prior to the Early Tender Time, and whose 2046 Notes have been accepted for purchase, the applicable Total Consideration, inclusive of the applicable Early Tender Premium, as set forth in the table above.
Settlement for the 2046 Notes that were validly tendered and not validly withdrawn at or prior to the Early Tender Time and that are accepted for purchase will occur on May 26, 2026 (the “Early Settlement Date”), the third business day after the Early Tender Time.
The Tender Offer will expire at 5:00 p.m. New York City time, on June 5, 2026, unless extended with respect to a Series of Notes (such time and date, as they may be extended, the “Expiration Time”) or earlier terminated as described in the Offer to Purchase.
Kraft Heinz has engaged BofA Securities, Inc. (“BofA Securities”), Citigroup Global Markets Inc. (“Citigroup”), Deutsche Bank Securities Inc. (“Deutsche Bank Securities”) and Goldman Sachs & Co. LLC (“Goldman Sachs”) to act as dealer managers (collectively, the “Dealer Managers”) in connection with the Tender Offer and has appointed Global Bondholder Services Corporation to serve as the Tender Agent and Information Agent for the Tender Offer. Copies of the Offer to Purchase are available at https://www.gbsc-usa.com/kraftheinzcompany/ or by contacting Global Bondholder Services Corporation via telephone at (855) 654-2015 (toll free) or (212) 430-3774 (for banks and brokers). Questions regarding the terms of the Tender Offer should be directed to BofA Securities at (888) 292-0070 (toll-free) or (980) 387-3907 (collect); Citigroup at (800) 558-3745 (toll-free) or (212) 723-6106 (collect); Deutsche Bank Securities at (866) 627-0391 (toll-free) or (212) 250-2955 (collect); or Goldman Sachs at (800) 828-3182 (toll-free) or (212) 357-1452 (collect).
None of the Issuer, Kraft Heinz, their boards of directors or boards of managers, as applicable, the Dealer Managers, Global Bondholder Services Corporation, the Trustee for the Notes, or any of their respective affiliates, is making any recommendation as to whether Holders should tender any Notes in response to the Tender Offer. Holders must make their own decision as to whether to tender any of their Notes and, if so, the principal amounts of Notes to tender.
This press release is for informational purposes only and is not an offer to purchase, a solicitation of an offer to purchase, or a solicitation of consents with respect to any securities. This press release does not describe all the material terms of the Tender Offer, and no decision should be made by any Holder on the basis of this press release. The terms and conditions of the Tender Offer are described in the Offer to Purchase, and this press release must be read in conjunction with the Offer to Purchase. The Offer to Purchase contains important information that should be read carefully before any decision is made with respect to the Tender Offer. The Tender Offer is not being made in any jurisdiction in which, or to or from any person to or from whom, it is unlawful to make such offer or solicitation under applicable securities or blue sky laws. If any Holder is in any doubt as to the contents of this press release, or the Offer to Purchase, or the action it should take, the Holder should seek its own financial and legal advice, including in respect of any tax consequences, immediately from its stockbroker, bank manager, solicitor, accountant, or other independent financial, tax, or legal adviser. Any individual or company whose Notes are held on its behalf by a broker, dealer, bank, custodian, trust company, or other nominee must contact such entity if it wishes to tender such Notes pursuant to the Tender Offer.
ABOUT THE KRAFT HEINZ COMPANY
Kraft Heinz (Nasdaq: KHC) is one of the world’s largest food and beverage companies, withapproximately $25 billion in net sales in 2025 and a portfolio of iconic brands enjoyed by consumers in more than 40 countries. By investing in our capabilities and brands, including Heinz, Kraft, Philadelphia, Primal Kitchen, and Lunchables, we are unlocking the full power of our portfolio. We deliver high‑quality, great‑tasting, and affordable food for the consumers of today, while shaping the future of food.
Forward-Looking Statements
This press release contains certain statements that may be considered “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, and within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts and may be identified by words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “project,” “could,” “should,” “will,” “would,” and variations of such words and similar future or conditional expressions are intended to identify forward-looking statements. Examples of forward-looking statements include, but are not limited to, statements regarding the anticipated timing and completion of the Tender Offer; the expected aggregate principal amount of Notes to be purchased in the Tender Offer; and any other statements regarding the plans, expectations, or intentions with respect to the Tender Offer.
These forward-looking statements reflect management’s current expectations, estimates and assumptions, and are not guarantees of future performance and are subject to a number of risks and uncertainties, many of which are difficult to predict and beyond Kraft Heinz’s control. Such risks, uncertainties, and other factors include, but are not limited to: Kraft Heinz’s ability to consummate the Tender Offer on the terms and conditions or the timeline described in the Offer to Purchase, or at all; the satisfaction or waiver of the conditions to the Tender Offer; changes in laws, regulations, or regulatory interpretations that may affect Kraft Heinz’s ability to consummate the Tender Offer; the aggregate principal amount of Notes of each series ultimately tendered and the level of participation of Holders in the Tender Offer; the timing of the settlement of the Tender Offer; and volatility of capital markets and other macroeconomic factors. For additional information on other factors that could affect the Kraft Heinz’s forward-looking statements, see Kraft Heinz’s risk factors, as they may be amended from time to time, set forth in its filings with the Securities and Exchange Commission (the “SEC”). Any forward-looking statement made in this press release speaks only as of the date hereof and is expressly qualified in its entirety by the cautionary statements set forth herein and the risk factors and other cautionary statements contained in Kraft Heinz’s filings with the SEC. Kraft Heinz disclaims and does not undertake any obligation to update, revise, or withdraw any forward-looking statement in this press release, except as required by applicable law or regulation. Readers are cautioned not to place undue reliance on any forward-looking statements.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260521985970/en/
Canada’s original mac n’ cheese is serving up a craveable new dessert with a cheesy spin, available for a limited time at select bakeries across Canada
TORONTO--(BUSINESS WIRE)--KD is stepping into dessert for the first time ever – because KD’s iconic cheesy flavour and ultimate craveability shouldn’t be limited to dinner time. Introducing: KD Mac & Cheesecake, a first-of-its-kind sweet and savoury creation that transforms the signature cheesy KD flavour Canadians know and love into a deliciously craveable treat. Starting today, KD Mac & Cheesecake is available for a limited time at select bakeries across Canada, inviting Canadians to rethink when, where and how they enjoy KD.
As Canadians, especially Gen Z and Millennials, continue embracing nostalgic flavours¹ and leaning into unexpected food mashups², KD is stirring the pot. KD is made in Canada with real cheddar cheese and has been baked into the country’s food culture for generations, earning its title as a Canadian dinner classic. Now, the brand is putting the cheese in cheesecake with a dessert that finally lives up to dinner – and will leave you wondering if KD stands for dinner or dessert.
KD Mac & Cheesecake reimagines KD’s irresistible flavour in a sweet-meets-savoury dessert, with KD cheese folded into both the delicate graham cracker crust and creamy cheesecake batter. The result is a slice of cheesecake like no other, overflowing with the cheesy taste of KD fans know and love.
“As Canada’s unofficial dish, KD has long been associated with dinner,” said Brian Neumann, Head of Brand and Creativity at Kraft Heinz. “This led us to ask ourselves, ‘why should the unmistakable KD flavour be limited to dinner time?’ Today, we’re excited to give Canadians a brand new way to enjoy KD’s one-of-a-kind cheese flavour. KD Mac & Cheesecake is a playful way for us to remind Canadians that when it comes to delicious cheese – no matter the meal – it's Gotta be KD.”
KD Mac & Cheesecake is available to purchase exclusively through select bakery partners across Canada. Participating bakeries include SanRemo Bakery in Toronto, ON; Les Délices Lafrenaie in Montréal, QC; Goodies Bakeshop in Winnipeg, MB; and Ambrosial Cheesecake Shop and The Cheesecake Cafe in Calgary, AB. Canadians are encouraged to visit their local participating bakery partner to try KD Mac & Cheesecake for a limited time starting today, while quantities last.
For more information on KD Mac & Cheesecake, including participating locations and availability, visit kraftdinner.ca/cheesecake or follow @KraftDinnerCA on social media.
ABOUT KRAFT HEINZ CANADA
Kraft Heinz Canada's heritage can be traced back over a century to when James Lewis Kraft of Stevensville, Ontario began selling cheese from a horse-drawn wagon in 1903. Heinz Canada was established in 1909 in Leamington, Ontario where its first products were pickles sourced from local growers. Following the 2015 merger between Kraft Foods Group and H.J. Heinz Company, Kraft Heinz Canada became a subsidiary of the newly formed Kraft Heinz Company (NASDAQ: KHC). Now the country's second largest food and beverage company, iconic Kraft Heinz Canada products like Kraft Peanut Butter, Heinz Ketchup, KD, Philadelphia Cream Cheese, Renées Dressing, Jell-O, Classico, Kool-Aid and Maxwell House are found in over 97 per cent of Canadian households.
Kraft Heinz Canada is driving transformation inspired by Kraft Heinz's global purpose, Let's Make Life Delicious, by creating memorable community moments through local initiatives such as Kraft Hockeyville, while also supporting food banks across Canada through Kraft Heinz Groceries for Good program. Learn more about our journey by visiting kraftheinz.com or following us on LinkedIn.
KD is stepping into dessert for the first time ever – because KD’s iconic cheesy flavour and ultimate craveability shouldn’t be limited to dinner time. Introducing: KD Mac & Cheesecake, a first-of-its-kind sweet and savoury creation that transforms the signature cheesy KD flavour Canadians know and love into a deliciously craveable treat. Starting today, KD Mac & Cheesecake is available for a limited time at select bakeries across Canada, inviting Canadians to rethink when, where and how they enjoy KD.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260526824578/en/
KD Mac & Cheesecake
As Canadians, especially Gen Z and Millennials, continue embracing nostalgic flavours¹ and leaning into unexpected food mashups², KD is stirring the pot. KD is made in Canada with real cheddar cheese and has been baked into the country’s food culture for generations, earning its title as a Canadian dinner classic. Now, the brand is putting the cheese in cheesecake with a dessert that finally lives up to dinner – and will leave you wondering if KD stands for dinner or dessert.
KD Mac & Cheesecake reimagines KD’s irresistible flavour in a sweet-meets-savoury dessert, with KD cheese folded into both the delicate graham cracker crust and creamy cheesecake batter. The result is a slice of cheesecake like no other, overflowing with the cheesy taste of KD fans know and love.
“As Canada’s unofficial dish, KD has long been associated with dinner,” said Brian Neumann, Head of Brand and Creativity at Kraft Heinz. “This led us to ask ourselves, ‘why should the unmistakable KD flavour be limited to dinner time?’ Today, we’re excited to give Canadians a brand new way to enjoy KD’s one-of-a-kind cheese flavour. KD Mac & Cheesecake is a playful way for us to remind Canadians that when it comes to delicious cheese – no matter the meal – it's Gotta be KD.”
KD Mac & Cheesecake is available to purchase exclusively through select bakery partners across Canada. Participating bakeries include SanRemo Bakery in Toronto, ON; Les Délices Lafrenaie in Montréal, QC; Goodies Bakeshop in Winnipeg, MB; and Ambrosial Cheesecake Shop and The Cheesecake Cafe in Calgary, AB. Canadians are encouraged to visit their local participating bakery partner to try KD Mac & Cheesecake for a limited time starting today, while quantities last.
For more information on KD Mac & Cheesecake, including participating locations and availability, visit kraftdinner.ca/cheesecake or follow @KraftDinnerCA on social media.
ABOUT KRAFT HEINZ CANADA
Kraft Heinz Canada's heritage can be traced back over a century to when James Lewis Kraft of Stevensville, Ontario began selling cheese from a horse-drawn wagon in 1903. Heinz Canada was established in 1909 in Leamington, Ontario where its first products were pickles sourced from local growers. Following the 2015 merger between Kraft Foods Group and H.J. Heinz Company, Kraft Heinz Canada became a subsidiary of the newly formed Kraft Heinz Company (NASDAQ: KHC). Now the country's second largest food and beverage company, iconic Kraft Heinz Canada products like Kraft Peanut Butter, Heinz Ketchup, KD, Philadelphia Cream Cheese, Renées Dressing, Jell-O, Classico, Kool-Aid and Maxwell House are found in over 97 per cent of Canadian households.
Kraft Heinz Canada is driving transformation inspired by Kraft Heinz's global purpose, Let's Make Life Delicious, by creating memorable community moments through local initiatives such as Kraft Hockeyville, while also supporting food banks across Canada through Kraft Heinz Groceries for Good program. Learn more about our journey by visiting kraftheinz.com or following us on LinkedIn.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260526824578/en/
PITTSBURGH & CHICAGO--(BUSINESS WIRE)--The Kraft Heinz Company (Nasdaq: KHC) (“Kraft Heinz”) will participate in a fireside chat at Deutsche Bank’s 23rd Annual dbAccess Global Consumer Conference in Paris, France on June 3, 2026, at 10:30 a.m. Central European Time / 4:30 a.m. Eastern Daylight Time.
A live webcast of the event will be available at ir.kraftheinzcompany.com. A replay will be accessible after the event through the same website.
ABOUT THE KRAFT HEINZ COMPANY
Kraft Heinz (Nasdaq: KHC) is one of the world’s largest food and beverage companies, with approximately $25 billion in net sales in 2025 and a portfolio of iconic brands enjoyed by consumers in more than 40 countries. By investing in our capabilities and brands, including Heinz, Kraft, Philadelphia, Primal Kitchen, and Lunchables, we are unlocking the full power of our portfolio. We deliver high-quality, great-tasting, and affordable food for the consumers of today, while shaping the future of food. Learn more at www.kraftheinzcompany.com.
Berkshire Hathaway (BRKA +0.76%)(BRKB +0.55%) has a new CEO this year, with Greg Abel taking over from Warren Buffett, and there have already been some significant changes in the company's portfolio. While the investing strategy and discipline may be the same, there have been some notable changes in just the first quarter of 2026. Here are the biggest surprises from Berkshire's most recent 13F filing.
Image source: Getty Images.
Berkshire added a big position in Delta Buffett has never been a big fan of airlines. In Berkshire's 2007 shareholder letter, he outlined his reasons for not liking them: "The worst sort of business is one that grows rapidly, requires significant capital to engender the growth, and then earns little or no money. Think airlines."
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That's why Berkshire's move to buy around 40 million shares of Delta Air Lines (DAL +1.56%) this past quarter was particularly noteworthy, as it wasn't the type of move Buffett may have made. And at nearly 1% of Berkshire's portfolio, it's not a terribly small position, either. It comes at an interesting time, given that oil prices are up and demand for travel could be lower for the foreseeable future due to not only rising costs but also adverse economic conditions.
Delta is, however, a leading airline and has performed well over the years, and could arguably be a good investment to hold on to for the long term. But Berkshire didn't exactly buy low -- the stock is up 66% in the past five years, making this a bit of a surprising move for the company, given both Delta's rising valuation and the industry that it's in.
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It tripled its stake in Alphabet Something I definitely didn't expect to see so quickly was a top tech company like Alphabet (GOOG +0.44%)(GOOGL +0.53%) becoming one of Berkshire's top holdings. While I thought it was possible, I didn't expect it to happen so soon. But at just under 7%, Alphabet now accounts for more of Berkshire's portfolio than Chevron and Occidental Petroleum. It's the fifth-largest holding after Berkshire tripled its position in the tech giant.
Alphabet may be the clearest example of a change in the mix of stocks at Berkshire, potentially reflecting a greater acceptance and focus on tech. While Apple is the leading stock in Berkshire's portfolio, its days of leading the tech sector are long gone. Alphabet, however, gives Berkshire investors more exposure to artificial intelligence and is more of a classic tech investment than Apple, which is why the move to significantly increase its position was particularly noteworthy for Berkshire.
And like Delta, it isn't a terribly cheap stock. Alphabet is trading at an all-time high, and its price-to-earnings multiple is 29. This is another move I wouldn't have expected Buffett to make.
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Berkshire dumped many stocks, but Kraft wasn't one of them There was speculation earlier in the year that Berkshire might exit its position in Kraft Heinz (KHC +0.70%), which has long been a staple in its portfolio, but that didn't end up happening. Kraft was contemplating a breakup of its business, but eventually abandoned the idea.
The move to keep Kraft is puzzling, given that Berkshire exited its position in many stocks, including UnitedHealth Group, Mastercard, and Domino's Pizza, among others. These are businesses that arguably look to be in better shape than Kraft, and yet, Berkshire decided to remain invested in the struggling food company.
It may be a sign that Berkshire is more open to hanging onto Kraft as an investment now that it's no longer looking to break up. However, with the company facing considerable headwinds, it's a riskier-looking investment than the stocks that Berkshire exited this past quarter, which is why it's surprising to see Kraft surviving such a mass exodus. In the past five years, Kraft's stock has declined by a staggering 46%, making it one of Berkshire's worst holdings over that stretch.
Do these moves make Berkshire's stock a better buy? Berkshire's stock is down 4% this year as investors grapple with the reality of Buffett no longer leading the company. The moves Berkshire made this quarter don't necessarily make the business a whole lot better or worse, but they do indicate a shift in strategy, where the company may be more willing to pay higher prices for stocks and venture into new opportunities. For long-term investors, the stock can still be a great buy and an effective way to diversify your portfolio.
David Jagielski, CPA has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Apple, Berkshire Hathaway, Chevron, Domino's Pizza, and Mastercard. The Motley Fool recommends Delta Air Lines, Kraft Heinz, Occidental Petroleum, and UnitedHealth Group. The Motley Fool has a disclosure policy.
Kraft Heinz (KHC) appears significantly undervalued, with all three valuation models indicating intrinsic equity values far above its current market cap. KHC faces declining market share and earnings, but sustainable growth and cash flow projections support equity values around $51–54 billion versus a $28 billion market cap. DCF, Gordon Growth, and FCFE models, using conservative assumptions, consistently yield per-share valuations of $34–$45, implying 43–89% upside.
Kraft's mac & cheese sits on a supermarket shelf in Encinitas, California, U.S., September 2, 2025. REUTERS/Mike Blake/File Photo Purchase Licensing Rights, opens new tab
SummaryCompaniesKraft Heinz CEO Steve Cahillane expects improved innovation pipeline in 2027New CEO has earmarked $600 million for marketing, product revampCompany could invest more if profits allow, CEO saysKraft Heinz portfolio seeing market share improvements this yearLONDON, June 3 (Reuters) - Kraft Heinz (KHC.O), opens new tab aims to accelerate product innovation next year, CEO Steve Cahillane told Reuters, as the packaged food company steps up investment to reverse years of market share losses.
Cahillane, who took the helm in January, has earmarked $600 million for marketing and R&D this year to rebuild innovation and revive the main U.S. business which generates almost 70% of sales.
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"Next year is going to be better because we've put a lot of changes in place around the R&D, around process improvement, around resource allocation that will lead to a better innovation pipeline for 2027 than we had in 2026," Cahillane said, without providing details.
The push comes as Kraft Heinz expands into higher-protein and lower-sugar products, launching a protein-infused version of its popular Mac & Cheese in March, followed by electrolyte-enhanced Capri Sun drinks and adding to its sugar-free Heinz Zero range, targeting consumers shifting toward healthier options.
"You've got to be willing to step out there and extend your brand a little bit and try things," said Ross Glotzbach, CEO and director of research at a Kraft Heinz investor, Southeastern Asset Management, who supported the moves.
Kraft Heinz share priceHorizontal bar chart showing U.S. mac and cheese market share for Kraft, Velveeta, private label and Goodles from 2022 to 2026. Kraft and Velveeta lose share while private label and Goodles gain, illustrating rising competition.The renewed focus follows a long period where the company has been one of the sector's worst performers, losing market share for the last decade to both rival conglomerates and challenger brands such as Goodles amid underinvestment, cost cuts and rising competition from healthier and private‑label brands.
The company's shares are down 3.8% this year but have significantly outperformed peers such as Conagra Brands (CAG.N), opens new tab and Campbell's (CPB.O), opens new tab, whose shares have lost around 25%, suggesting support for the strategy from investors.
Ketchup maker's shares versus rivals since new CEO Steve Cahillane took over on January 1WILL INNOVATION BE ENOUGH?Cahillane's biggest decision in his first weeks as CEO was to freeze plans to split the company in two - one focused on groceries and the other on sauces and spreads - saving $300 million.
Analysts say sustained growth for the combined group will require continued investment, as Kraft Heinz competes in low-growth categories.
Kraft Heinz's U.S. volumes fell 4.1% in the four weeks to May 16 compared with a year earlier and dollar sales were down 1.9%, said BNP Paribas analyst Max Gumport, citing Nielsen data.
"That's not going to be a sustainable outcome after $600 million of investment," said Gumport. "When you get to the end of this year, they will need to invest more, because what you need is volumes to be flat and dollar sales up for this business to work."
Kraft Heinz is also pledging to absorb about 80% of inflation this year rather than risk trying to pass it on to customers, limiting its ability to offset costs and increasing reliance on new products to drive growth.
Cahillane said the company will step up spending further if early gains from new products continue.
The proportion of the company's products that were holding or gaining market share rose to 58% in March from 21% at the end of 2025, Kraft Heinz said in May.
"Some of the early returns we're seeing gives us optimism that we might have the opportunity to invest even more," he said.
Grouped bar chart showing Kraft Heinz annual net sales and net income from 2019 to 2026. Sales edge lower after 2023. Profits swung sharply in 2025 as the company took a $9.3 billion write-down on some intangible assetsReporting by Alexander Marrow; Editing by Lisa Jucca and Elaine Hardcastle
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Alexander covers European consumer goods from London, focusing on the corporate strategies of companies including Nestle, Unilever, Danone and Reckitt, as well as on how their products impact consumers’ daily lives. Alexander previously covered Russia’s economy and companies from Moscow, reporting on the fallout from Russia’s 2022 invasion of Ukraine and the Western corporate exodus that followed.
In the latest trading session, Kraft Heinz (KHC - Free Report) closed at $22.47, marking a -1.27% move from the previous day. The stock fell short of the S&P 500, which registered a gain of 0.41% for the day. At the same time, the Dow added 1.73%, and the tech-heavy Nasdaq lost 0.09%.
The processed food company with dual headquarters in Pittsburgh and Chicago's shares have seen a decrease of 1.34% over the last month, not keeping up with the Consumer Staples sector's loss of 1.05% and the S&P 500's gain of 4.59%.
Market participants will be closely following the financial results of Kraft Heinz in its upcoming release. The company is forecasted to report an EPS of $0.53, showcasing a 23.19% downward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $6.12 billion, down 3.59% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.07 per share and revenue of $24.43 billion. These totals would mark changes of -20.38% and -2.06%, respectively, from last year.
Investors should also take note of any recent adjustments to analyst estimates for Kraft Heinz. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.41% higher within the past month. Kraft Heinz is currently a Zacks Rank #3 (Hold).
In terms of valuation, Kraft Heinz is presently being traded at a Forward P/E ratio of 11.02. This indicates a discount in contrast to its industry's Forward P/E of 12.7.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 199, which puts it in the bottom 19% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
A month has gone by since the last earnings report for Kraft Heinz (KHC - Free Report) . Shares have lost about 5% in that time frame, underperforming the S&P 500.
But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is Kraft Heinz due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the latest earnings report in order to get a better handle on the important drivers.
Kraft Heinz Q1 Earnings Beat Estimates Despite Organic Sales DipThe Kraft Heinz Company posted first-quarter 2026 results, wherein it posted adjusted earnings of 58 cents per share, beating the Zacks Consensus Estimate of 50 cents. Quarterly adjusted earnings fell 6.5% year over year, mainly due to lower adjusted operating income, partially offset by reduced tax expenses on adjusted earnings.
The company generated net sales of $6,047 million, up 0.8% year over year. The metric beat the Zacks Consensus Estimate of $5,908 million. The increase included a favorable 1.9 percentage-point impact from foreign currency, partially offset by a 0.7 percentage-point drag from divestitures. However, organic net sales declined 0.4% compared with the prior-year period. Our model expected a 3.2% dip in organic sales.
Pricing contributed positively, rising 0.8 percentage points across all segments, mainly driven by price increases in select categories to offset higher input costs. In contrast, volume/mix fell 1.2 percentage points, with declines across all segments. This weakness was largely due to reduced demand in coffee, cold cuts and Indonesia, which outweighed gains from seasonal factors such as the shift in Easter timing.
The adjusted gross profit of $2,064 million increased from the $2,061 million reported in the year-ago quarter. However, adjusted gross margin contracted 30 bps to 34.1%. We expected an adjusted gross margin decline of 120 bps to 33.1%. Adjusted operating income declined 11.8% year over year to $1,058 million. The drop was primarily caused by higher advertising expenses, inflationary pressures in manufacturing and logistics that exceeded efficiency gains, and unfavorable volume/mix. These headwinds more than offset the benefits from higher pricing, one-time procurement cost recoveries and favorable foreign currency effects.
Decoding KHC’s Segment-Wise ResultsNorth America: Net sales of $4,458 million declined 0.7% year over year. Organic sales fell 1.1%. We expected a 4% decline in segment organic sales. During the quarter, pricing increased 0.4 percentage points and the volume/mix fell 1.5 percentage points.
International Developed Markets: Net sales of $843 million were up 3.2% year over year. Organic sales declined 0.1%, with pricing up 0.2 percentage points and volume/mix dipping 0.3 percentage points. We expected a 3.6% decline in segment organic sales.
Emerging Markets: Net sales of $746 million were up 7.6% year over year. Organic sales grew 3.8%. We expected 2.2% growth in segment organic sales. Pricing was up 4.4 percentage points, but volume/mix declined 0.6 percentage points.
Kraft Heinz: Other Financial Aspects & GuidanceKraft Heinz ended the quarter with cash and cash equivalents of $3,308 million, long-term debt of $19,223 million and total shareholders’ equity (excluding noncontrolling interest) of $41,923 million. Net cash provided by operating activities was $1,006 million for the three months ended March 28, 2026, and free cash flow was $766 million. The company returned $474 million to its shareholders through cash dividends in the first quarter. Kraft Heinz did not repurchase any shares under its existing buyback program. As of March 28, 2026, KHC had approximately $1.5 billion remaining under its authorized repurchase capacity.
For 2026, Kraft Heinz still expects organic net sales to decline 1.5% to 3.5% year over year, indicating an estimated 100 bps impact from incremental SNAP-related headwinds.
Constant currency adjusted operating income is projected to decline 14% to 18%. Adjusted gross profit margin is expected to decrease 25-75 bps compared with the prior year. The company anticipates adjusted EPS to be between $1.98 and $2.10.
How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a flat trend in estimates review.
VGM ScoresAt this time, Kraft Heinz has a average Growth Score of C, however its Momentum Score is doing a lot better with an A. Following the exact same course, the stock was allocated a score of A on the value side, putting it in the top quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook Kraft Heinz has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry PlayerKraft Heinz is part of the Zacks Food - Miscellaneous industry. Over the past month, Sysco (SYY - Free Report) , a stock from the same industry, has gained 2%. The company reported its results for the quarter ended March 2026 more than a month ago.
Sysco reported revenues of $20.52 billion in the last reported quarter, representing a year-over-year change of +4.7%. EPS of $0.94 for the same period compares with $0.96 a year ago.
Sysco is expected to post earnings of $1.51 per share for the current quarter, representing a year-over-year change of +2%. Over the last 30 days, the Zacks Consensus Estimate remained unchanged.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Sysco. Also, the stock has a VGM Score of B.
During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a high dividend payout.
Below are the ratings of the most accurate analysts for three high-yielding stocks in the consumer staples sector.
Campbell’s Co (NASDAQ:CPB)General Mills Inc (NYSE:GIS)Kraft Heinz Co (NASDAQ:KHC)Photo via Shutterstock
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Kraft Heinz (KHC - Free Report) closed the most recent trading day at $24.05, moving +2.65% from the previous trading session. The stock's change was more than the S&P 500's daily loss of 1.62%. Meanwhile, the Dow experienced a drop of 1.87%, and the technology-dominated Nasdaq saw a decrease of 1.98%.
The processed food company with dual headquarters in Pittsburgh and Chicago's shares have seen an increase of 0.26% over the last month, not keeping up with the Consumer Staples sector's gain of 0.43% and outstripping the S&P 500's loss of 0.03%.
Market participants will be closely following the financial results of Kraft Heinz in its upcoming release. It is anticipated that the company will report an EPS of $0.53, marking a 23.19% fall compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $6.12 billion, showing a 3.59% drop compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.07 per share and revenue of $24.43 billion. These totals would mark changes of -20.38% and -2.06%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Kraft Heinz. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.1% upward. Kraft Heinz presently features a Zacks Rank of #3 (Hold).
From a valuation perspective, Kraft Heinz is currently exchanging hands at a Forward P/E ratio of 11.34. This expresses a discount compared to the average Forward P/E of 12.47 of its industry.
The Food - Miscellaneous industry is part of the Consumer Staples sector. With its current Zacks Industry Rank of 203, this industry ranks in the bottom 17% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
After more than 150 years of appearing side by side, Heinz and Heineken® launch their first official collaboration; a mildly revolutionary Heinz x Heineken® six-pack, which includes five Heineken® beers and one bottle of Heinz Tomato KetchupA partnership that might feel unexpected, but is actually incredibly obviousAnd, as all good brand collaborations do, has even ventured into the world of fashion with a limited edition Heinz x Heineken jersey so consumers can wear this pairing with prideFans of both brands can be in for the chance to win the exclusive six-pack and the jersey via the Heinz Instagram AMSTERDAM, June 12, 2026 (GLOBE NEWSWIRE) -- For more than a century, HEINZ and Heineken® have played a role in bringing people together… around tables, in front of screens, at events, and beyond. Now the two iconic brands have officially come together to celebrate a connection of their own — giving everyone the match we’ve all been waiting for.
An iconic limited edition six pack featuring five Heineken® beers and one bottle of Heinz Tomato Ketchup. This is an official collaboration between two brands whose connection has been sitting in plain sight for 150 years.
Whilst brand collaborations are nothing new, this one was set side by side in the name itself… a detail that’s hard to ignore once you’ve seen it, and one that makes this feel less like a new idea, and more like something that was always bound to happen. An unexpected but obvious partnership.
Because whilst the world often leans into rivalries… especially at times like this… some pairings never really play that game. In fact, sometimes they are even better together.
Karen Owen, Chief Growth Officer at HEINZ Europe and Pacific, said, “For 150 years, HEINZ and Heineken have been part of the moments that bring people together. This summer, we're making it official. From the irrational love that inspires our fans to go ‘all in’ to our shared commitment to quality, this partnership may be our most rational one yet."
Nabil Nasser, Global Head of Brand Heineken®, added, “Heineken has always been about sparking fresh connections. This collaboration is a reminder that even the most unlikely pairings can feel completely natural when they’re part of shared moments - it’s the match we’ve all been waiting for… as unexpected as it might be.”
With collaborations becoming more and more exclusive, these two beloved brands have created something that everyone can get their hands on. Consumers can create their own Heinz x Heineken® DIY six-pack, offering a simple, official take on a pairing that’s been around for years.
And if you want to get your hands on the six-pack and an exclusive Heinz x Heineken jersey, stay tuned to the Heinz Instagram for the upcoming giveaway.
About Heineken®
HEINEKEN is the World's Pioneering Beer Company™. It is the leading developer and marketer of premium and nonalcoholic beer and cider brands. Led by the Heineken® brand, the Group has a portfolio of more than 340 international, regional, local and specialty beers and ciders. With HEINEKEN’s over 85,000 employees, we brew the joy of true togetherness to inspire a better world. Our dream is to shape the future of beer and beyond to win the hearts of consumers. We are committed to innovation, long-term brand investment, disciplined sales execution and focused cost management. Through Brew a Better World, sustainability is embedded in the business. HEINEKEN has a well-balanced geographic footprint with leadership positions in both developed and developing markets. We operate breweries, malteries, cider plants and other production facilities in more than 70 countries. Most recent information is available on our Company’s website and follow us on LinkedIn and Instagram.
About The Kraft Heinz Company
Kraft Heinz (Nasdaq: KHC) is one of the world’s largest food and beverage companies, with approximately $25 billion in net sales in 2025 and a portfolio of iconic brands enjoyed by consumers in more than 40 countries. By investing in our capabilities and brands, including Heinz, Kraft, Philadelphia, Primal Kitchen, and Lunchables, we are unlocking the full power of our portfolio. We deliver high‑quality, great‑tasting, and affordable food for the consumers of today, while shaping the future of food. Learn more at www.kraftheinzcompany.com.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/80d1620c-0979-4f41-9667-50aec0e689a0
Heinz x Heineken After more than 150 years of appearing side by side, Heinz and Heineken® launch their first official...
The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks.
Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks.
Zacks has developed the innovative Style Scores system to highlight stocks with specific traits. For example, value investors will be interested in stocks with great grades in the "Value" category. When paired with a high Zacks Rank, "A" grades in the Value category are among the strongest value stocks on the market today.
One company value investors might notice is DaVita (DVA - Free Report) . DVA is currently sporting a Zacks Rank #2 (Buy), as well as a Value grade of A. The stock holds a P/E ratio of 10.65, while its industry has an average P/E of 16.95. DVA's Forward P/E has been as high as 15.44 and as low as 10.48, with a median of 13.17, all within the past year.
Investors will also notice that DVA has a PEG ratio of 0.83. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. DVA's industry currently sports an average PEG of 1.59. DVA's PEG has been as high as 1.09 and as low as 0.69, with a median of 0.87, all within the past year.
Value investors also use the P/S ratio. The P/S ratio is calculated as price divided by sales. This is a popular metric because sales are harder to manipulate on an income statement, so they are often considered a better performance indicator. DVA has a P/S ratio of 0.92. This compares to its industry's average P/S of 1.19.
These are just a handful of the figures considered in DaVita's great Value grade. Still, they help show that the stock is likely being undervalued at the moment. Add this to the strength of its earnings outlook, and we can clearly see that DVA is an impressive value stock right now.
Here are five stocks added to the Zacks Rank #1 (Strong Buy) List today:
Lifetime Brands (LCUT - Free Report) : This company, which is a leading designer, marketer and distributor of kitchenware, tableware, and other home solution products for use in the home, and market in the United States and internationally, has seen the Zacks Consensus Estimate for its current year earnings increasing 19.7% over the last 60 days.
Great Elm Capital Group (GECC - Free Report) : This diversified investment company, which works in line of investment management, financial products and merchant banking, has seen the Zacks Consensus Estimate for its current year earnings increasing 18.3% over the last 60 days.
ARKO (ARKO - Free Report) : This company, which operates a chain of convenience stores in the United States, has seen the Zacks Consensus Estimate for its current year earnings increasing 11.5% over the last 60 days.
Pitney Bowes (PBI - Free Report) : This global technology company, which is powering billions of transactions - physical and digital - in the connected and borderless world of commerce, has seen the Zacks Consensus Estimate for its current year earnings increasing 11% over the last 60 days.
DaVita (DVA - Free Report) : This company, which is a leading provider of dialysis services in the U.S. to patients suffering from chronic kidney failure, also known as end-stage renal disease (ESRD), has seen the Zacks Consensus Estimate for its current year earnings increasing 6.4% over the last 60 day.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.
Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.
It also includes access to the Zacks Style Scores.
What are the Zacks Style Scores? Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days.
Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.
The Style Scores are broken down into four categories:
Value ScoreFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.
Growth ScoreGrowth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.
Momentum ScoreMomentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
VGM ScoreWhat if you like to use all three types of investing? The VGM Score is a combination of all Style Scores, making it one of the most comprehensive indicators to use with the Zacks Rank. It rates each stock on their combined weighted styles, which helps narrow down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.
It's highly successful, with #1 (Strong Buy) stocks producing an unmatched +23.7% average annual return since 1988. That's more than double the S&P 500. But because of the large number of stocks we rate, there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
But it can feel overwhelming to pick the right stocks for you and your investing goals with over 800 top-rated stocks to choose from.
That's where the Style Scores come in.
You want to make sure you're buying stocks with the highest likelihood of success, and to do that, you'll need to pick stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you like a stock that only has a #3 (Hold) rank, it should also have Scores of A or B to guarantee as much upside potential as possible.
As mentioned above, the Scores are designed to work with the Zacks Rank, so any change to a company's earnings outlook should be a deciding factor when picking which stocks to buy.
A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: DaVita HealthCare (DVA - Free Report) Denver, CO-headquartered DaVita Inc. is a leading provider of dialysis services in the U.S. to patients suffering from chronic kidney failure, also known as end-stage renal disease (ESRD). The company operates outpatient dialysis centers and provides related services primarily in its dialysis centers and contracted hospitals across the United States, in addition to offering integrated kidney care services under value-based arrangements. Its services include outpatient dialysis services, hospital inpatient dialysis services and certain ancillary services.
DVA is a #1 (Strong Buy) on the Zacks Rank, with a VGM Score of A.
It also boasts a Value Style Score of A thanks to attractive valuation metrics like a forward P/E ratio of 12.98; value investors should take notice.
For fiscal 2026, three analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.91 to $15.07 per share. DVA boasts an average earnings surprise of +2.4%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, DVA should be on investors' short list.
It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.
The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor.
Zacks Premium includes access to the Zacks Style Scores as well.
What are the Zacks Style Scores? Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days.
Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.
The Style Scores are broken down into four categories:
Value ScoreFor value investors, it's all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to help pick out the most attractive and discounted stocks.
Growth ScoreWhile good value is important, growth investors are more focused on a company's financial strength and health, and its future outlook. The Growth Style Score takes projected and historic earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.
Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
VGM ScoreIf you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.
How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.
It's highly successful, with #1 (Strong Buy) stocks producing an unmatched +23.7% average annual return since 1988. That's more than double the S&P 500. But because of the large number of stocks we rate, there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
But it can feel overwhelming to pick the right stocks for you and your investing goals with over 800 top-rated stocks to choose from.
That's where the Style Scores come in.
To maximize your returns, you want to buy stocks with the highest probability of success. This means picking stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you find yourself looking at stocks with a #3 (Hold) rank, make sure they have Scores of A or B as well to ensure as much upside potential as possible.
As mentioned above, the Scores are designed to work with the Zacks Rank, so any change to a company's earnings outlook should be a deciding factor when picking which stocks to buy.
A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: DaVita HealthCare (DVA - Free Report) Denver, CO-headquartered DaVita Inc. is a leading provider of dialysis services in the U.S. to patients suffering from chronic kidney failure, also known as end-stage renal disease (ESRD). The company operates outpatient dialysis centers and provides related services primarily in its dialysis centers and contracted hospitals across the United States, in addition to offering integrated kidney care services under value-based arrangements. Its services include outpatient dialysis services, hospital inpatient dialysis services and certain ancillary services.
DVA is a #1 (Strong Buy) on the Zacks Rank, with a VGM Score of A.
Momentum investors should take note of this Medical stock. DVA has a Momentum Style Score of B, and shares are up 27.1% over the past four weeks.
Three analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.91 to $15.07 per share. DVA also boasts an average earnings surprise of +2.4%.
With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, DVA should be on investors' short list.
Key Takeaways DaVita posted stronger quarterly revenue and earnings, lifting full-year adjusted EPS outlook.DVA expects higher treatment volumes from favorable patient trends and competitor clinic closures.DVA funds buybacks and IKC growth with strong cash flow, but compensation, insurance and IT costs rise. DaVita Inc.’s (DVA - Free Report) investors have been experiencing some short-term gains from the stock lately. Shares of the Denver, CO-based provider of dialysis services in the United States to patients suffering from chronic kidney failure gained 21.4% in the past three months against the industry’s 5.7% decline. It has also outperformed the sector’s loss of 8.7% and the S&P 500’s gain of 10.9% in the same time frame.
A major recent development of DVA includes the announcement of its first-quarter results last month.
DaVita reported strong first-quarter 2026 results, with improvements in revenues, earnings and operating income. The increase in treatment volume per normalized day and higher reimbursement rates during the quarter were encouraging. DVA also raised its 2026 adjusted operating income and earnings per share (EPS) guidance, reflecting confidence in its business momentum. However, patient care costs and IT-related expenses increased year over year, while revenue per treatment (RPT) declined sequentially. Rising operating costs may continue to weigh on margins going forward, which does not bode well for the stock.
DVA's Three Months Price Comparison
Image Source: Zacks Investment Research
Over the past three months, the stock’s performance has remained strong, outperforming its peers like Fresenius Medical Care AG (FMS - Free Report) . However, it underperformed its peer, Outset Medical, Inc. (OM - Free Report) . Fresenius Medical and Outset Medical’s shares have lost 10.8% and gained 43.6%, respectively, in the same time frame.
For 2026, DaVita expects RPT to reflect growth of 1%-2%, while treatment volume is expected to be higher compared with 2025.
Adjusted EPS from continuing operations for the full year is projected to be in the range of $14.10-$15.20. The Zacks Consensus Estimate for the metric is currently pegged at $15.07.
For the second quarter of 2026, the Zacks Consensus Estimate for adjusted EPS is pegged at $4.01.
DVA’s Strengthening Core Dialysis FranchiseDaVita continues to benefit from annual reimbursement increases across Medicare and commercial contracts, supporting revenue growth despite normal seasonal fluctuations. The company’s large dialysis network and exposure to higher-paying commercial plans provide a stable revenue base, while early ACA enrollment trends have been better than management's prior expectations, potentially easing previously anticipated reimbursement pressures.
Treatment volumes exceeded management’s expectations in the first quarter of 2026, aided by favorable patient trends and lower-than-anticipated mortality. DVA also expects to benefit from patient transfers associated with competitor clinic closures, prompting it to raise its full-year treatment growth outlook. Sustained volume growth remains a key driver of revenue and earnings expansion.
Better labor productivity also helped the company keep patient-care costs below expectations, highlighting the effectiveness of DaVita’s operating model. The company is also investing in digital infrastructure and AI-enabled tools to improve scheduling, workforce utilization and administrative efficiency. These initiatives are expected to support DVA’s margin durability and create additional operating leverage over time.
DaVita’s Value-Based Care and Cash Flow StrengthIntegrated Kidney Care (IKC) remains an important long-term growth avenue for DaVita. The business continues to demonstrate strong performance in value-based care programs through improved quality outcomes and savings generation. As DVA expands its risk-based care arrangements and strengthens physician partnerships, it is building a more diversified and sustainable kidney-care ecosystem.
Strong operating and free cash flow generation provides DaVita with ample financial flexibility. The company has remained aggressive in repurchasing shares while maintaining leverage within its target range, underscoring management’s disciplined capital allocation strategy. Consistent cash generation and buybacks continue to enhance shareholder value and support investor sentiment toward the stock.
Challenges Ahead of DVAA key challenge for DaVita is the continued rise in operating expenses, particularly compensation, insurance and technology-related costs, which could pressure margins despite ongoing productivity improvements. Another concern is DVA’s dependence on commercial insurance plans for a significant share of its profits. Any decline in commercially insured patients, unfavorable reimbursement changes or shifts in plan mix could materially affect revenue growth and profitability, given the substantial gap between commercial and government reimbursement rates.
DaVita Stock’s ValuationDVA’s forward 12-month P/S of 0.83X is lower than the industry’s average of 2.67X but is higher its five-year median of 0.79X.
Image Source: Zacks Investment Research
Fresenius Medical and Outset Medical’s forward 12-month P/S currently stand at 0.47X and 0.71X, respectively, in the same time frame.
DVA’s Estimate MovementEstimates for DaVita’s 2026 earnings have moved 6.4% north to $15.07 in the past 60 days.
Image Source: Zacks Investment Research
Estimates for Fresenius Medical’s 2026 EPS have moved 7.4% south to $2.24 in the past 60 days.
Estimates for Outset Medical’s 2026 loss per share have widened from $2.83 to $2.88 in the past 60 days.
Our Final Take on DaVitaDaVita, a Zacks Rank #1 (Strong Buy) stock, remains well positioned to benefit from its leadership in the U.S. dialysis market, improving treatment volumes and expanding value-based care initiatives. The company’s strong operational execution, productivity gains and ongoing technology investments are supporting earnings growth while enhancing its long-term competitive position. Its IKC platform also offers an additional growth avenue beyond traditional dialysis services. You can see the complete list of today’s Zacks #1 Rank stocks here.
However, investors should monitor rising labor, insurance and technology-related expenses, which could pressure margins over time. DVA’s reliance on commercial payors for a significant portion of its profits also exposes it to reimbursement and insurance-mix risks.
From a valuation standpoint, the stock appears reasonably priced relative to its business fundamentals and growth prospects. The current valuation suggests that the market has yet to fully recognize the benefits of improving treatment volumes, operational efficiencies and disciplined capital allocation. This leaves room for further upside if management continues to execute effectively.
For existing shareholders, the stock remains an attractive long-term holding. Prospective investors can also consider building positions, as DaVita’s improving fundamentals, favorable earnings momentum suggest that the recent rally may not yet be over. The favorable Zacks Style Score with a Growth Score of B suggests continued uptrend potential for DVA.
A month has gone by since the last earnings report for DaVita HealthCare (DVA - Free Report) . Shares have added about 0.6% in that time frame, underperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is DaVita HealthCare due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the latest earnings report in order to get a better handle on the important drivers.
DaVita Q1 Earnings & Revenue Beat Estimates, Margins ExpandDaVita delivered adjusted earnings per share from continuing operations of $2.87 in the first quarter of 2026, up 43.5% year over year. The figure surpassed the Zacks Consensus Estimate by 19.1%.
GAAP earnings per share from continuing operations for the quarter was also $2.87, reflecting an uptick of 43.5% year over year.
DaVita’s Revenues in DetailRevenues of $3.42 billion in the first quarter increased 5.9% year over year. The figure topped the Zacks Consensus Estimate by 3.5%.
RPT in the first quarter of 2026 was $417.6 million, up 4.4% year over year, but down 1.2% sequentially. Per management, the sequential decline was primarily the result of the typical first-quarter headwind from patient-pay responsibility.
DVA’s Segment DetailsDaVita generates revenues via two sources — Dialysis patient service revenues and Other revenues.
The dialysis patient service revenues were $3.27 billion, up 5.5% year over year.
Other revenues were $142.8 million, up 18.4% from the year-ago quarter’s figure.
Per management, the total U.S. dialysis treatments for the first quarter were 7,029,525 or 91,650 per day, on average. This represents a per-day increase of 0.05% on a sequential basis. Normalized non-acquired treatment increased 0.1% year over year in the first quarter of 2026.
As of March 31, 2026, DaVita provided dialysis services to around 296,300 patients at 3,262 outpatient dialysis centers, of which 2,666 were U.S. centers while 596 were located across 14 other countries.
As of March 31, 2026, DVA had approximately 62,600 patients in risk-based integrated care arrangements in its Integrated Kidney Care business, representing $5.4 billion in annualized medical spend. The company also had an additional 6,300 patients in other integrated care arrangements.
DaVita’s Margin DetailsIn the quarter under review, DaVita’s gross profit increased 9.1% year over year to $1.07 billion. The gross margin expanded 90 basis points (bps) to 31.4%.
General & administrative expenses climbed 12.8% year over year to $421.9 million.
Adjusted operating profit totaled $651.4 million, reflecting a 6.8% increase from the prior-year quarter’s level. Adjusted operating margin in the first quarter expanded 15 bps to 19.1%.
DVA’s Financial PositionDaVita exited first-quarter 2026 with cash and cash equivalents and short-term investments of $666.5 million compared with $700.7 million at the fourth quarter of 2025-end. Total debt (including the current portion) at the end of first-quarter 2026 was $10.63 billion compared with $10.27 billion at the end of the fourth quarter of 2025.
Net cash provided by operating activities at the end of first-quarter 2026 was $320.8 million compared with $180 million a year ago.
During the three months ended March 31, 2026, DVA repurchased 3 million shares for $403 million. Subsequent to March 31, 2026, through May 5, 2026, the company has repurchased 2 million shares of its common stock for $302 million.
DaVita’s GuidanceDaVita has revised its outlook for 2026.
For 2026, DVA continues to expect RPT to reflect growth of 1%-2%, while treatment volume is expected to be higher compared with 2025.
Adjusted earnings per share from continuing operations for the full year is now projected to be in the range of $14.10-$15.20, up from the prior outlook of $13.60-$15.00. The Zacks Consensus Estimate currently stands at $14.16.
How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a upward trend in fresh estimates.
The consensus estimate has shifted 5.58% due to these changes.
VGM ScoresAt this time, DaVita HealthCare has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with a D. However, the stock has a grade of A on the value side, putting it in the top 20% for value investors.
Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been trending upward for the stock, and the magnitude of this revision looks promising. It comes with little surprise DaVita HealthCare has a Zacks Rank #1 (Strong Buy). We expect an above average return from the stock in the next few months.
Performance of an Industry PlayerDaVita HealthCare is part of the Zacks Medical - Outpatient and Home Healthcare industry. Over the past month, Quest Diagnostics (DGX - Free Report) , a stock from the same industry, has gained 2.4%. The company reported its results for the quarter ended March 2026 more than a month ago.
Quest Diagnostics reported revenues of $2.9 billion in the last reported quarter, representing a year-over-year change of +9.2%. EPS of $2.50 for the same period compares with $2.21 a year ago.
Quest Diagnostics is expected to post earnings of $2.81 per share for the current quarter, representing a year-over-year change of +7.3%. Over the last 30 days, the Zacks Consensus Estimate has changed -0.4%.
Quest Diagnostics has a Zacks Rank #2 (Buy) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of B.
Key Takeaways DaVita provides dialysis via outpatient centers, hospitals and home hemo/peritoneal options.DaVita's IKC coordinates advanced CKD/ESKD care; CKCC showed progress in quality and savings.FMS exceeded 100,000 5008X treatments, while OM preps next-gen Tablo cleared under the FDA's 2025 cyber rules DaVita Inc. (DVA - Free Report) is a key player in the dialysis space, providing comprehensive kidney care services to patients with chronic kidney disease (CKD) and end-stage kidney disease (ESKD). The company’s core business centers on delivering dialysis treatment through a broad network of outpatient dialysis centers, hospital-based services and home-based modalities, including home hemodialysis and peritoneal dialysis. By supporting patients across multiple care settings — from dialysis clinics and hospitals to home environments — DVA plays an important role in ensuring access to life-sustaining renal care while helping patients navigate different treatment options throughout their kidney health journey.
The company has also expanded beyond traditional dialysis delivery to strengthen its presence across the broader kidney care continuum. Through its Integrated Kidney Care (IKC) platform, DaVita coordinates care for patients with advanced CKD and ESKD, working alongside physicians and healthcare providers to improve clinical outcomes and support earlier intervention. Recent results from the Comprehensive Kidney Care Contracting (CKCC) program demonstrated continued progress in quality and savings measures, highlighting the growing role of value-based kidney care models in the dialysis industry.
DaVita continues to invest in technology and operational capabilities that support its dialysis network. During 2026, the company highlighted ongoing investments in digital infrastructure and AI-enabled tools, including new scheduling technologies designed to improve care delivery and operational efficiency. These initiatives reinforce DVA’s position as a leading dialysis services provider while supporting the industry's broader shift toward integrated, patient-centered kidney care.
FMS & OM Expanding Innovation Across Dialysis CareFresenius Medical Care AG (FMS - Free Report) is a renowned player in the dialysis ecosystem, combining dialysis care delivery with the manufacture of dialysis products and equipment. FMS provides treatment for CKD and end-stage renal disease through its Care Delivery, Care Enablement and Value-Based Care segments.
In 2026, Fresenius Medical Care accelerated the rollout of its 5008X CAREsystem in the United States, reaching around 100 clinics and surpassing 100,000 treatments. Fresenius Medical Care also launched kinexus, a unified global digital platform that supports home dialysis programs by integrating remote therapy monitoring, prescription management and supply ordering across peritoneal dialysis and home hemodialysis therapies.
Outset Medical, Inc. (OM - Free Report) is directly involved in the dialysis space through its Tablo Hemodialysis System, a technology platform designed to simplify dialysis delivery across hospitals, clinics and home settings. Outset Medical focuses on improving dialysis outcomes while reducing cost and complexity for providers and patients.
During 2026, Outset Medical continued expanding Tablo adoption across acute and post-acute care facilities and prepared for the launch of its next-generation Tablo platform. The new system, which OM believes is the first dialysis system cleared under the FDA’s 2025 cybersecurity requirements, incorporates hardware and software enhancements aimed at improving performance, reliability and patient safety while supporting broader dialysis care delivery.
DVA’s Price Performance, Valuation and EstimatesShares of DaVita have gained 71.6% year to date compared with the industry’s rise of 5.3%.
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DVA’s forward 12-month P/E of 11.8X is lower than the industry’s average of 16.9X and its five-year median of 12.7X. It has a Value Score of A.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for DVA’s 2026 earnings per share suggests a 39.8% improvement compared with 2025.
Image Source: Zacks Investment Research
DaVita currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.
Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks.
On top of the Zacks Rank, investors can also look at our innovative Style Scores system to find stocks with specific traits. For example, value investors will want to focus on the "Value" category. Stocks with high Zacks Ranks and "A" grades for Value will be some of the highest-quality value stocks on the market today.
DaVita (DVA - Free Report) is a stock many investors are watching right now. DVA is currently holding a Zacks Rank #2 (Buy) and a Value grade of A. The stock is trading with P/E ratio of 10.65 right now. For comparison, its industry sports an average P/E of 16.81. DVA's Forward P/E has been as high as 15.44 and as low as 10.48, with a median of 13.17, all within the past year.
Investors should also note that DVA holds a PEG ratio of 0.83. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. DVA's PEG compares to its industry's average PEG of 1.31. Over the last 12 months, DVA's PEG has been as high as 1.09 and as low as 0.69, with a median of 0.87.
Value investors also frequently use the P/S ratio. This metric is found by dividing a stock's price with the company's revenue. Some people prefer this metric because sales are harder to manipulate on an income statement. This means it could be a truer performance indicator. DVA has a P/S ratio of 0.92. This compares to its industry's average P/S of 1.18.
These are only a few of the key metrics included in DaVita's strong Value grade, but they help show that the stock is likely undervalued right now. When factoring in the strength of its earnings outlook, DVA looks like an impressive value stock at the moment.
Key Takeaways DVA served 296,300 patients through 3,262 outpatient dialysis centers worldwide as of March 31, 2026.DaVita's IKC platform covered 62,600 patients and represents about $5.4 billion in annualized medical spend.BAX backs renal care via its medical products, while RMTI signed a 3-year supply deal with Heritage Dialysis. DaVita Inc. (DVA - Free Report) , a well-known kidney care services provider, is focused on delivering dialysis treatment and integrated care solutions for patients with chronic and end-stage kidney disease. As of March 31, 2026, the company was serving 296,300 patients through 3,262 outpatient dialysis centers worldwide, underscoring its significant presence in the global renal care market. In first-quarter 2026, DVA delivered more than 7 million dialysis treatments and continued to expand its Integrated Kidney Care (IKC) platform, which covered 62,600 patients in risk-based care arrangements.
Beyond its core dialysis operations, DaVita is increasingly emphasizing coordinated and value-based care to improve outcomes for kidney disease patients. The company reported continued momentum in its IKC business, which represents approximately $5.4 billion in annualized medical spend under risk-based arrangements. This reflects DVA's broader strategy of managing patient care across the kidney disease space while supporting long-term healthcare efficiency and quality outcomes.
Recent developments highlight the company's focus on innovation and care coordination. DaVita reported year-over-year improvements across key measures in the Comprehensive Kidney Care Contracting (CKCC) program and generated the highest aggregate savings among participants in first-quarter 2026. DVA is also investing in technology-driven initiatives, including the rollout of its AI-enabled ScheduleHub tool, designed to optimize patient scheduling and staffing while enhancing operational efficiency and supporting clinical excellence.
BAX & RMTI Supporting the Broader Renal Care EcosystemBaxter International Inc. (BAX - Free Report) remains connected to the renal care ecosystem through products that continue to be used in kidney dialysis centers and other healthcare settings. While Baxter completed the sale of its Kidney Care business, now known as Vantive, in January 2025, BAX still serves healthcare providers through its broad portfolio of medical products and therapies.
Recent developments reflect Baxter’s ongoing focus on operational improvement and innovation, with the company advancing connected-care offerings, including smart bed systems, patient monitoring technologies, infusion systems and respiratory health devices, while continuing to support providers across a range of care settings.
Rockwell Medical, Inc. (RMTI - Free Report) is a dedicated renal care company focused on developing, manufacturing and distributing hemodialysis products for dialysis providers worldwide. Rockwell Medical supplies a broad portfolio of dialysis concentrates and related products that support patients with end-stage kidney disease.
Recent developments include Rockwell Medical's new three-year supply agreement with Heritage Dialysis and the renewal of its agreement with aQua Dialysis, strengthening its presence in both in-center and home dialysis markets. RMTI also continues to focus on operational improvements, profitability and long-term growth within the dialysis industry.
DVA’s Price Performance, Valuation and EstimatesShares of DaVita have gained 74.4% year to date compared with the industry’s rise of 8.5%.
Image Source: Zacks Investment Research
DVA’s forward 12-month P/E of 11.9X is lower than the industry’s average of 17.4X and its five-year median of 12.7X. It has a Value Score of A.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for DVA’s 2026 earnings per share suggests a 39.8% improvement compared with 2025.
Image Source: Zacks Investment Research
DaVita currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Here are three stocks with buy rank and strong value characteristics for investors to consider today, June 11:
Priority Technology Holdings, Inc. (PRTH - Free Report) : This payment technology company carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing by 6% over the last 60 days.
Priority Technology Holdings has a price-to-earnings ratio (P/E) of 4.89 compared with 9.70 for the industry. The company possesses a Value Scoreof A.
DaVita Inc. (DVA - Free Report) : This kidney dialysis company carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing by 6.4% over the last 60 days.
DaVita has a price-to-earnings ratio (P/E) of 13.15 compared with 26.40 for the industry. The company possesses a Value Score of A.
Bread Financial Holdings, Inc. (BFH - Free Report) : This fintech company carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its next year earnings increasing 12.1% over the last 60 days.
Bread Financial Holdings has a price-to-earnings ratio (P/E) of 8.90 compared with 22.84 for the S&P. The company possesses a Value Score of A.
See the full list of top ranked stocks here.
Learn more about the Value score and how it is calculated here.
DaVita HealthCare (DVA - Free Report) could be a solid choice for investors given its recent upgrade to a Zacks Rank #1 (Strong Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.
The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.
The power of a changing earnings picture in determining near-term stock price movements makes the Zacks rating system highly useful for individual investors, since it can be difficult to make decisions based on rating upgrades by Wall Street analysts. These are mostly driven by subjective factors that are hard to see and measure in real time.
Therefore, the Zacks rating upgrade for DaVita HealthCare basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price.
Most Powerful Force Impacting Stock PricesThe change in a company's future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. The influence of institutional investors has a partial contribution to this relationship, as these big professionals use earnings and earnings estimates to calculate the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their transaction of large amounts of shares then leads to price movement for the stock.
Fundamentally speaking, rising earnings estimates and the consequent rating upgrade for DaVita HealthCare imply an improvement in the company's underlying business. Investors should show their appreciation for this improving business trend by pushing the stock higher.
Harnessing the Power of Earnings Estimate RevisionsAs empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.
The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>> .
Earnings Estimate Revisions for DaVita HealthCareThis kidney dialysis provider is expected to earn $15.07 per share for the fiscal year ending December 2026, which represents no year-over-year change.
Analysts have been steadily raising their estimates for DaVita HealthCare. Over the past three months, the Zacks Consensus Estimate for the company has increased 6.4%.
Bottom LineUnlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of "buy" and "sell" ratings for its entire universe of more than 4,000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a "Strong Buy" rating and the next 15% get a "Buy" rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.
You can learn more about the Zacks Rank here >>>
The upgrade of DaVita HealthCare to a Zacks Rank #1 positions it in the top 5% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
