Track market-moving stories before they get noisy

Americká společnost SoFi Technologies, která se zabývá osobními financemi a finančními technologiemi, zveřejnila své výsledky za třetí kvartál roku 2026. Očištěné výnosy meziročně vzrostly o 44 % na 1,37 mld. USD a překonaly očekávání trhu. Společnost zároveň zvýšila celoroční výhled očištěných výnosů na přibližně 5,04 mld. USD a nově představila výhled na rok 2027, podle kterého by očištěné výnosy měly v příštím roce dosáhnout přibližně 6,4 mld. USD.

Výsledky společnosti SoFi Technologies (SOFI) za 3Q 2026

 
3Q 2026
Konsensus 3Q 2026
3Q 2025

Očištěné výnosy (mld. USD)
1,37
1,27
0,95

Čistý zisk (mil. USD)
241,0
--
139,7

Očištěný zisk na akcii (EPS, USD/akcie)
0,18
0,17
0,11

Výsledky
Očištěné výnosy zaznamenaly meziroční růst o 44 % na 1,37 mld. USD.

SoFi dělí své výnosy do tří segmentů:

Očištěné výnosy ze segmentu půjčování zaznamenaly meziroční růst o 68 % na 807,4 mil. USD.
Výnosy ze segmentu finančních služeb meziročně vzrostly o 25 % na 525,1 mil. USD.
Výnosy z technologické platformy meziročně klesly o 24 % na 87,4 mil. USD, mezikvartálně ale vzrostly o 3 %. Pokles zahrnuje dopad odchodu velkého klienta, který ukončil využívání platformy před koncem roku 2025. Bez tohoto vlivu by výnosy segmentu meziročně vzrostly o 18 %.

Čistý úrokový výnos meziročně vzrostl o 59 % na 929,5 mil. USD, přičemž očekávání trhu činilo 856,5 mil. USD. Čistá úroková marže dosáhla 6,14 % a mezikvartálně se zlepšila o 16 bazických bodů. Neúrokové výnosy vzrostly o 21 % na 455,6 mil. USD při odhadu 421,1 mil. USD.

Neúrokové náklady meziročně vzrostly o 31 % na 1,05 mld. USD a byly tak nad očekáváním 998,4 mil. USD.

Očištěný zisk EBITDA zaznamenal meziroční růst o 70 % na 469,8 mil. USD, Wall Street predikovala 443,4 mil. USD. Marže očištěné EBITDA dosáhla 34 %.

Očištěný čistý zisk vzrostl meziročně o 74 % na 243,0 mil. USD, přičemž se očekávalo 226,4 mil. USD.

Společnost SoFi ve 3Q získala rekordních 1,2 mil. nových členů, celkový počet tak dosáhl 17,07 mil. při očekávání 16,89 mil. V meziročním srovnání se jedná o nárůst o 35 % z 12,64 mil. členů ve 3Q 2025. Počet poskytnutých produktů vzrostl o rekordních 2,2 mil. na 26,67 mil., meziročně o 44 % z 18,55 mil. Počet produktů na jednoho člena vystoupal na 1,56 z 1,47 před rokem.

Poskytnuté produkty v oblasti finančních služeb zaznamenaly meziroční růst o 44 % na 23,24 mil. primárně díky pokračující poptávce po produktech SoFi Money, Relay a Invest. Poskytnuté úvěrové produkty meziročně vzrostly o 39 % na 3,43 mil.

Vývoj počtu členů, poskytnutých produktů a poskytnutých produktů na člena. Zdroj: SoFi

Celkový počet aktivních klientských účtů v segmentu technologické platformy meziročně klesl o 11 % na 140,4 mil., mezikvartálně ale přibylo 6 mil. účtů.

Výhled
Společnost SoFi zvýšila celoroční výhled a pro rok 2026 nyní očekává:

Očištěné výnosy přibližně 5,04 mld. USD, což implikuje meziroční růst přibližně o 40 %. Předchozí výhled činil 4,75 až 4,85 mld. USD. Trh projektoval 4,9 mld. USD.
Očištěný zisk EBITDA přibližně 1,66 mld. USD oproti předchozím zhruba 1,6 mld. USD, což implikuje očištěnou marži EBITDA přibližně 33 %. Konsensus činil 1,63 mld. USD.
Očištěný čistý zisk by měl dosáhnout přibližně 840 mil. USD (předchozí výhled zhruba 825 mil. USD), což odpovídá marži přibližně 17 %.
Očištěný zisk na akcii ve výši přibližně 0,61 USD (předchozí výhled 0,60 USD), což implikuje meziroční růst přibližně o 56 %.
Počet členů by měl meziročně vzrůst o alespoň 30 %.

Společnost zároveň poprvé představila výhled na rok 2027, kdy očekává:

Očištěné výnosy přibližně 6,4 mld. USD, což implikuje meziroční růst přibližně o 27 %. Trh projektoval 6,01 mld. USD.
Očištěný zisk EBITDA přibližně 2,24 mld. USD, což odpovídá očištěné marži EBITDA přibližně 35 %. Konsensus činil 2,1 mld. USD.
Očištěný čistý zisk přibližně 1,28 mld. USD s marží zhruba 20 %.
Očištěný zisk na akcii přibližně 0,90 USD, což implikuje meziroční růst přibližně o 48 %.

Komentář CEO
„Výsledky za třetí kvartál byly výjimečné v jakémkoli prostředí, ale vzhledem k tomu, jak se rok 2026 vyvíjí, jsou o to pozoruhodnější,“ uvedl generální ředitel Anthony Noto. „Naše zaměření je jednoduché. Přidáváme více členů, kteří využívají více produktů a generují vyšší výnosy na produkt, abychom z dlouhodobého pohledu vytvořili co největší hodnotu pro naše akcionáře. Za méně než deset let jsme SoFi proměnili ze společnosti s jediným produktem ve finanční ‚aplikaci na všechno‘ s osmi různými obchodními oblastmi, z nichž každá generuje přes 100 milionů dolarů anualizovaných výnosů. Naše přesvědčení o příležitostech, které máme před sebou, nebylo nikdy silnější.“

Vývoj akcie
Akcie SoFi Technologies (SOFI) v předburzovní fázi obchodování posilují o 10,86 % na 16,03 USD.

Michal Bárta, Fio banka, a.s.

Gibbs Wealth Management purchased a new position in shares of Globus Medical, Inc. (NYSE:GMED – Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 7,829 shares of the medical device company’s stock, valued at approximately $586,000.

A number of other large investors also recently modified their holdings of the business. Paradigm Capital Management Inc. NY bought a new position in shares of Globus Medical in the 2nd quarter valued at about $70,042,000. American Capital Management Inc. bought a new stake in Globus Medical during the second quarter worth about $51,599,000. Hawk Ridge Capital Management LP bought a new stake in Globus Medical during the first quarter worth about $43,078,000. Arrowstreet Capital Limited Partnership raised its holdings in Globus Medical by 107.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 912,905 shares of the medical device company’s stock worth $78,656,000 after acquiring an additional 471,875 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its position in Globus Medical by 4.5% during the first quarter. Janus Henderson Group PLC now owns 7,623,095 shares of the medical device company’s stock valued at $656,831,000 after purchasing an additional 328,217 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Globus Medical Stock Performance Shares of GMED stock opened at $81.89 on Tuesday. The firm’s 50-day moving average is $78.18 and its 200-day moving average is $83.80. The stock has a market cap of $10.99 billion, a price-to-earnings ratio of 20.94, a PEG ratio of 1.31 and a beta of 0.96. Globus Medical, Inc. has a 52-week low of $59.51 and a 52-week high of $101.40.

Globus Medical (NYSE:GMED – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The medical device company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.24. The business had revenue of $789.61 million during the quarter, compared to analysts’ expectations of $782.88 million. Globus Medical had a return on equity of 14.57% and a net margin of 17.02%. Globus Medical’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the company posted $0.86 earnings per share. Globus Medical has set its FY 2026 guidance at 4.950-5.050 EPS. Sell-side analysts predict that Globus Medical, Inc. will post 4.99 EPS for the current fiscal year. Insider Activity at Globus Medical In other news, Director James Tobin sold 30,000 shares of Globus Medical stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $74.58, for a total transaction of $2,237,400.00. Following the completion of the transaction, the director directly owned 15,000 shares in the company, valued at approximately $1,118,700. The trade was a 66.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Stephen T. Zarrilli sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $87.04, for a total value of $2,176,000.00. Following the transaction, the director directly owned 25,000 shares in the company, valued at $2,176,000. The trade was a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 18.38% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In A number of research firms have weighed in on GMED. Royal Bank Of Canada decreased their price target on Globus Medical from $115.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, October 1st. Wells Fargo & Company lowered their price target on Globus Medical from $103.00 to $99.00 and set an “overweight” rating on the stock in a research report on Friday, August 7th. Truist Financial dropped their price objective on Globus Medical from $115.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, July 16th. BMO Capital Markets initiated coverage on Globus Medical in a report on Wednesday, July 8th. They issued an “outperform” rating and a $94.00 price objective for the company. Finally, UBS Group assumed coverage on shares of Globus Medical in a research note on Tuesday, July 28th. They issued a “neutral” rating and a $82.00 target price for the company. Three equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Globus Medical currently has a consensus rating of “Moderate Buy” and an average price target of $99.46.

View Our Latest Report on GMED

About Globus Medical (Free Report)

Globus Medical, Inc develops and commercializes musculoskeletal solutions for surgeons, hospitals and patients. The company focuses primarily on spinal, orthopedic trauma and other orthopedic procedures, offering implants, instruments and related technologies designed to support surgical treatment and improve clinical outcomes.

Its product portfolio includes spinal implants and enabling technologies, including the ExcelsiusGPS robotic navigation platform and Excelsius3D imaging system.

Read More Five stocks we like better than Globus Medical Comfort Systems Earnings: AI Slowdown or More Growth Ahead? Bristol Myers Squibb’s Cancer Breakthrough Could Have Implications Beyond Its Own Stock 5 Beaten-Down Growth Stocks Trading Like Value Plays as Cash Chases Mega-Caps Anthropic’s IPO Filing Reveals a Massive Opportunity for AI Infrastructure Giants Want to see what other hedge funds are holding GMED? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Globus Medical, Inc. (NYSE:GMED – Free Report).

Receive News & Ratings for Globus Medical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globus Medical and related companies with MarketBeat.com's FREE daily email newsletter.

Group 1 Automotive, Inc. (NYSE:GPI – Get Free Report) major shareholder Conifer Management, L.L.C. purchased 34,529 shares of the firm’s stock in a transaction that occurred on Friday, October 23rd. The shares were acquired at an average cost of $242.41 per share, with a total value of $8,370,174.89. Following the completion of the transaction, the insider owned 1,991,819 shares in the company, valued at $482,836,843.79. This trade represents a 1.76% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Conifer Management, L.L.C. also recently made the following trade(s):

On Monday, October 26th, Conifer Management, L.L.C. purchased 20,471 shares of Group 1 Automotive stock. The shares were bought at an average cost of $246.14 per share, for a total transaction of $5,038,731.94. On Thursday, October 22nd, Conifer Management, L.L.C. acquired 45,000 shares of Group 1 Automotive stock. The stock was purchased at an average price of $240.52 per share, for a total transaction of $10,823,400.00. On Monday, September 28th, Conifer Management, L.L.C. purchased 133,472 shares of Group 1 Automotive stock. The stock was acquired at an average price of $243.58 per share, for a total transaction of $32,511,109.76. On Wednesday, September 30th, Conifer Management, L.L.C. acquired 71,592 shares of Group 1 Automotive stock. The shares were acquired at an average price of $242.03 per share, with a total value of $17,327,411.76. On Tuesday, September 29th, Conifer Management, L.L.C. purchased 68,648 shares of Group 1 Automotive stock. The stock was bought at an average price of $239.48 per share, with a total value of $16,439,823.04. On Friday, September 25th, Conifer Management, L.L.C. acquired 50,532 shares of Group 1 Automotive stock. The shares were purchased at an average price of $252.06 per share, for a total transaction of $12,737,095.92. On Thursday, September 24th, Conifer Management, L.L.C. acquired 75,756 shares of Group 1 Automotive stock. The shares were purchased at an average price of $248.00 per share, for a total transaction of $18,787,488.00. On Friday, September 18th, Conifer Management, L.L.C. acquired 37,650 shares of Group 1 Automotive stock. The shares were acquired at an average cost of $249.88 per share, with a total value of $9,407,982.00. On Thursday, September 17th, Conifer Management, L.L.C. bought 28,000 shares of Group 1 Automotive stock. The shares were bought at an average cost of $266.06 per share, with a total value of $7,449,680.00. On Thursday, September 10th, Conifer Management, L.L.C. purchased 36,647 shares of Group 1 Automotive stock. The stock was bought at an average cost of $280.86 per share, for a total transaction of $10,292,676.42. Group 1 Automotive Price Performance Shares of NYSE GPI opened at $244.25 on Tuesday. The firm has a market capitalization of $2.91 billion, a PE ratio of 10.17, a P/E/G ratio of 1.50 and a beta of 0.92. The business’s fifty day moving average price is $254.89 and its two-hundred day moving average price is $310.29. Group 1 Automotive, Inc. has a 1-year low of $224.65 and a 1-year high of $429.00. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.02 and a quick ratio of 0.25.

Group 1 Automotive (NYSE:GPI – Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $9.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $10.60 by ($0.99). The business had revenue of $5.39 billion during the quarter, compared to the consensus estimate of $5.66 billion. Group 1 Automotive had a return on equity of 15.66% and a net margin of 1.31%. The business’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period last year, the company earned $10.82 earnings per share. On average, research analysts expect that Group 1 Automotive, Inc. will post 37.68 EPS for the current year. Group 1 Automotive Announces Dividend The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were given a dividend of $0.55 per share. The ex-dividend date was Tuesday, September 1st. This represents a $2.20 annualized dividend and a dividend yield of 0.9%. Group 1 Automotive’s dividend payout ratio (DPR) is 9.16%.

Institutional Trading of Group 1 Automotive Several large investors have recently made changes to their positions in the business. Corient Private Wealth LP raised its stake in Group 1 Automotive by 6.2% in the 2nd quarter. Corient Private Wealth LP now owns 702 shares of the company’s stock valued at $204,000 after purchasing an additional 41 shares during the last quarter. Bessemer Group Inc. boosted its position in shares of Group 1 Automotive by 0.9% during the 1st quarter. Bessemer Group Inc. now owns 7,734 shares of the company’s stock valued at $2,556,000 after acquiring an additional 70 shares during the last quarter. Anchor Investment Management LLC lifted its holdings in Group 1 Automotive by 112.0% in the second quarter. Anchor Investment Management LLC now owns 212 shares of the company’s stock valued at $62,000 after acquiring an additional 112 shares during the last quarter. Sage Rhino Capital LLC raised its position in Group 1 Automotive by 24.0% in the first quarter. Sage Rhino Capital LLC now owns 652 shares of the company’s stock valued at $216,000 after purchasing an additional 126 shares during the period. Finally, Pictet Asset Management Holding SA increased its position in shares of Group 1 Automotive by 6.6% during the 1st quarter. Pictet Asset Management Holding SA now owns 2,055 shares of the company’s stock worth $679,000 after purchasing an additional 128 shares during the last quarter. Institutional investors own 99.92% of the company’s stock.

Analyst Ratings Changes Several equities research analysts have recently weighed in on GPI shares. Evercore set a $360.00 price objective on Group 1 Automotive in a research note on Tuesday, August 4th. KeyCorp set a $425.00 price objective on Group 1 Automotive in a research report on Wednesday, October 7th. Zacks Research lowered Group 1 Automotive from a “hold” rating to a “strong sell” rating in a report on Monday, August 10th. Morgan Stanley downgraded shares of Group 1 Automotive from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $300.00 to $232.00 in a report on Monday, October 5th. Finally, Weiss Ratings downgraded shares of Group 1 Automotive from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, August 17th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $341.67.

Read Our Latest Stock Analysis on GPI

(Get Free Report)

Group 1 Automotive, Inc is an international automotive retailer headquartered in Houston, Texas. The company operates dealerships that sell new and used automobiles and light trucks from a broad range of manufacturers.

In addition to vehicle sales, Group 1 Automotive provides automotive financing and insurance products, vehicle maintenance and repair, collision services, replacement parts, and other related services. Its dealerships also market vehicles through digital retailing platforms.

Founded in 1997, Group 1 Automotive serves customers through a network of dealerships and automotive service locations in the United States, the United Kingdom, and Brazil.

Featured Stories Five stocks we like better than Group 1 Automotive Comfort Systems Earnings: AI Slowdown or More Growth Ahead? Bristol Myers Squibb’s Cancer Breakthrough Could Have Implications Beyond Its Own Stock 5 Beaten-Down Growth Stocks Trading Like Value Plays as Cash Chases Mega-Caps Anthropic’s IPO Filing Reveals a Massive Opportunity for AI Infrastructure Giants

Receive News & Ratings for Group 1 Automotive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Group 1 Automotive and related companies with MarketBeat.com's FREE daily email newsletter.

WILMINGTON, Del., Oct. 27, 2026 (GLOBE NEWSWIRE) -- Ashland Inc. (NYSE: ASH) today announced plans to issue its fourth-quarter fiscal 2026 earnings release at approximately 5 p.m. ET on Tuesday, November 3, 2026. The company’s live webcast with securities analysts will include an executive summary and detailed remarks. The live webcast will take place at 9 a.m. ET on Wednesday, November 4.  Simultaneously, the company will post a slide presentation in the Investor Relations section of its website at http://investor.ashland.com.

Among those participating in the webcast presentation will be:

Guillermo Novo, chair, and chief executive officerWilliam Whitaker, senior vice president, and chief financial officerDago Caceres, senior vice president, general manager, specialty additivesAlessandra Faccin, senior vice president, general manager, life sciences and intermediatesJim Minicucci, senior vice president, general manager, personal careSandy Klugman, director, investor relations To access the call by phone, please go to this registration link and you will be provided with dial in details. To avoid delays, we encourage participants to dial into the conference call fifteen minutes ahead of the scheduled start time.

The webcast and supporting materials will be accessible through the Investor Relations section of Ashland's website at http://investor.ashland.com. Following the live event, an archived version of the webcast and supporting materials will be available on the Ashland website for 12 months.

About Ashland 
Ashland Inc. (NYSE: ASH) is a global additives and specialty ingredients company with a conscious and proactive mindset for environmental, social and governance (ESG). The company serves customers in a wide range of consumer and industrial markets, including architectural coatings, construction, energy, food and beverage, personal care and pharmaceutical. Approximately 2,900 passionate, tenacious solvers – from renowned scientists and research chemists to talented engineers and plant operators – thrive on developing practical, innovative and elegant solutions to complex problems for customers in more than 100 countries. Visit ashland.com and ashland.com/ESG to learn more.

™ Trademark, Ashland, or its subsidiaries, registered in various countries.

FOR FURTHER INFORMATION:

ASH_Q4_2026_press_release_earnings_webcast_date_notification_FNL_20261026

DENVER, Oct. 27, 2026 (GLOBE NEWSWIRE) -- The Simply Good Foods Company (Nasdaq: SMPL) (“Simply Good Foods,” or the “Company”), a leader in the Nutritional Snacking category, today reported financial results for the thirteen and fifty-two weeks ended August 29, 2026.

Fourth Quarter Summary:(1)

Net sales of $333.3 million versus $369.0 millionNet income of $30.5 million versus net loss of $12.4 millionEarnings per diluted share of $0.34 versus loss per diluted share of $0.12Adjusted Diluted EPS(2) of $0.44 versus $0.46Adjusted EBITDA(3) $57.5 million versus $66.2 million
Fiscal Year 2027(4) Outlook:

Net sales expected to decline between 13% and 17% year-over-yearGross margins (GAAP) expected to increase between 250 and 300 basis points year-over-yearAdjusted EBITDA expected to decline between 9% and 14% year-over-year
“Fiscal 2026 was a year of decisive action. We recognized that our performance was not where it needed to be and moved quickly to reset the business. We aligned the organization around a focused set of priorities, accelerated work to improve our cost structure, strengthened our financial flexibility, and overhauled our marketing approach across Quest, Atkins, and OWYN. We delivered on the modest financial commitments we made following our second quarter reset, continued to generate significant cash flow despite lower net sales, and completed much of the foundational work necessary to improve the long-term trajectory of the business,” said Joe Scalzo, President and Chief Executive Officer.

Scalzo continued, “Fiscal 2027 will be a challenging but important year in our turnaround. While we expect significant declines in net sales and Adjusted EBITDA, we are taking the actions necessary to restore the economic foundation of the business and rebuild brand momentum. We are reinvesting a portion of our margin recovery behind our brands, with new marketing strategies designed to strengthen consumer connection and improve underlying brand health. We expect performance to improve over the course of the year as our marketing investments take hold, the volume impact of pricing eases, and year-over-year comparisons become more favorable. We believe these actions will position us to exit fiscal 2027 with stronger momentum, improved profitability, and a healthier foundation for long-term growth.”

Fourth Quarter 2026 Results(1)

Net sales of $333.3 million decreased $35.7 million, or 9.7%, versus the comparable year ago period driven by a decline for Atkins and OWYN of 14.9% and 20.6%, respectively. The Company's net sales performance was largely driven by softer retail takeaway and velocity-related distribution pressure.

Total Simply Good Foods fourth quarter retail takeaway(5) decreased about 8% driven by declines for Atkins, OWYN, and Quest of approximately 23%, 7%, and 2%, respectively.

Gross profit of $113.3 million decreased 10.5% versus the comparable year ago period, driven by volume declines, higher input costs, and restructuring costs. Gross margin was 34.0%, a decline of 30 basis points versus prior year, which was largely driven by higher input costs.

Selling and marketing expenses were $32.4 million for both the fiscal fourth quarter and comparable year ago period.

General and administrative ("G&A") expenses of $30.6 million, which contain $1.9 million in restructuring costs, decreased 24.8% versus the comparable year ago period, which includes $8.7 million of integration expenses.

Net interest expense of $4.7 million reflected a 28.7% increase versus the comparable year ago period due to a higher debt balance.

The effective tax rate was 25.6%.

Net income of $30.5 million compared to net loss of $12.4 million for the comparable year ago period.

Adjusted EBITDA of $57.5 million decreased 13.2% versus the comparable year ago period.

Reported earnings per diluted share was $0.34 versus reported loss per diluted share of $0.12 in the comparable year ago period.

Adjusted Diluted EPS was $0.44 versus $0.46 in the comparable year ago period.

Weighted average diluted shares outstanding of 88.5 million declined modestly versus the comparable year ago period, reflecting share repurchases.

Fiscal Year 2026 Summary:

Net sales were $1,356.5 million versus $1,450.9 millionNet loss of $155.9 million versus net income of $103.6 millionLoss per diluted share of $1.69 versus earnings per diluted share of $1.02Adjusted Diluted EPS(2) of $1.70 versus $1.92Adjusted EBITDA(3) of $225.9 million versus $278.2 million
Net sales of $1,356.5 million decreased 6.5% versus the comparable year ago period, driven by declines for Atkins and OWYN of 20.9% and 9.7%, respectively, partially offset by Quest growth of 0.7%. Atkins distribution-related declines were largely as expected. OWYN's net sales decline was the result of poor velocities, including on newly expanded distribution.

Total Simply Good Foods retail takeaway decreased approximately 5% driven by declines for Atkins of approximately 22%, partially offset by Quest and OWYN growth of about 3% and 1% respectively.

Gross profit of $442.4 million decreased 15.9% versus the comparable year ago period, driven by higher input costs. Gross margin was 32.6%, a 360-basis point decline versus the comparable year ago period, driven mainly by $6.5 million of one-time OWYN integration expenses and $5.7 million of restructuring costs.

Selling and marketing expenses of $129.4 million decreased 3.6% versus the comparable year ago period driven by planned marketing declines for Atkins, which more than offset increases to support growth for Quest and OWYN.

G&A expenses of $143.9 million, which includes restructuring costs of $12.7 million, integration expenses of $4.1 million, and term loan transaction fees of $3.0 million, decreased 7.7% versus the comparable year ago period, which included $20.5 million of integration expenses and $0.7 million of term loan transaction fees.

As part of the Company's process to evaluate the carrying value of our brands, prior to the fourth quarter of fiscal year 2026 we recognized $331.0 million non-cash, impairment charges related to Goodwill, and the Atkins and OWYN brand intangible assets. The impairment is largely the result of current fiscal year performance, updated projections of future revenue, and declines in stock price.

Net interest expense of $18.5 million reflected a 10% decrease versus the comparable year ago period due to lower interest rates.

The effective tax rate was 21.3%.

Net loss of $155.9 million compared to net income of $103.6 million for the comparable year ago period.

Adjusted EBITDA of $225.9 million decreased 18.8% versus the comparable year ago period.

Reported loss per diluted share of $1.69 versus reported earnings per diluted share of $1.02 in the comparable year ago period.

Adjusted Diluted EPS was $1.70 versus $1.92 in the comparable year ago period.

Weighted average diluted shares outstanding of 92.4 million declined modestly versus the comparable year ago period, reflecting share repurchases.

Balance Sheet and Cash Flow

At the end of fiscal year 2026, the Company had cash of $138.4 million and an outstanding principal balance on its term loan of $350.0 million, bringing the Company's quarter-end trailing twelve-month Net Debt to Adjusted EBITDA ratio to 0.9x(6). Cash flow from operations was about $181.0 million versus $178.5 million in the comparable year ago period. Capital expenditures were approximately $24.1 million.

Fiscal Year 2027 Outlook

The Company anticipates the following in fiscal year 2027:

Net sales expected to decline between 13% and 17% year-over-yearGross margins (GAAP) expected to increase between 250 and 300 basis points year-over-yearAdjusted EBITDA expected to decline between 9% and 14% year-over-year
The Company expects net interest expense in the range of $18 to $20 million. The Company expects capital expenditures in the range of $15 to $20 million.

For the first quarter of fiscal year 2027:

The Company expects net sales to decline between 19% and 22% year-over-yearGross margins (GAAP) expected to increase by approximately 100 basis points year-over-yearAdjusted EBITDA expected to decline between 28% and 33% year-over-year
The foregoing outlook assumes current economic conditions, consumer purchasing behavior and prevailing tariff rates remain generally consistent across the Company's fiscal year.

___________________________________
(1) All comparisons refer to the fourth quarter or full fiscal year ended August 29, 2026, versus the comparable year-ago period ended August 30, 2025.
(2) Adjusted Diluted Earnings Per Share is a non-GAAP financial measure. Please refer to “Reconciliation of Adjusted Diluted Earnings Per Share” in this press release for an explanation and reconciliation of this non-GAAP financial measure.
(3) Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization ("EBITDA") is a non-GAAP financial measure. Please refer to the “Reconciliation of EBITDA and Adjusted EBITDA” in this press release for an explanation and reconciliation of this non-GAAP financial measure.
(4) The Company does not provide a forward-looking reconciliation of expected Fiscal Year 2026 Adjusted EBITDA to Net Income, the most directly comparable GAAP financial measure, because we are unable to provide such a reconciliation without unreasonable effort due to the unavailability of reliable estimates for certain components of consolidated net income and the respective reconciliations, and the inherent difficulty of predicting what the changes in these components will be throughout the fiscal year. As these items may vary greatly between periods, we are unable to address the probable significance of the unavailable information, which could significantly affect our future financial results.
(5) Combined Quest, Atkins, and OWYN Circana MULO++C-store and Company unmeasured channel estimate for the 13 and 52-weeks ending August 29, 2026, vs. the comparable 13 and 52-week year ago period.
(6) Net Debt to Adjusted EBITDA is a non-GAAP financial measure which Simply Good Foods defines as the total debt outstanding under our credit agreement with Barclays Bank PLC and other parties ("Credit Agreement"), reduced by cash and cash equivalents, and divided by the Company's trailing twelve month Adjusted EBITDA, as previously defined. The Company does not provide a forward-looking reconciliation of Net Debt to Adjusted EBITDA to Net Debt to Consolidated Net Income, the most directly comparable GAAP financial measures, expected for Fiscal Year 2026, because we are unable to provide such a reconciliation without unreasonable effort due to the unavailability of reliable estimates for certain components of consolidated net income and the respective reconciliations, and the inherent difficulty of predicting what the changes in these components will be throughout the fiscal year. As these items may vary greatly between periods, we are unable to address the probable significance of the unavailable information, which could significantly affect our future financial results.

Conference Call and Webcast Information
The Company will host a conference call with members of the executive management team to discuss these results today, Thursday, October 27, 2026, at 6:30 a.m. Mountain time (8:30 a.m. Eastern time). Investors interested in participating in the live call can dial 877-407-0792 from the U.S. or 201-689-8263 from International locations. A live webcast will be available via the "Investors" section of the Company's website at www.thesimplygoodfoodscompany.com. A telephone replay will be available approximately two hours after the call concludes and will remain accessible through October 30, 2025, by dialing 844-512-2921 from the U.S., or 412-317-6671 from international locations, and entering confirmation code 13755448.

About The Simply Good Foods Company
The Simply Good Foods Company (Nasdaq: SMPL), headquartered in Denver, Colorado, is a consumer-packaged food and beverage company with ambitious goals to raise the bar on what food can be with trusted brands and innovative nutritious snacking products. Within our portfolio of trusted brands (Quest™, Atkins™, and OWYN™), we offer a wide variety of nutritional snacks and beverages, including high protein chips, bars, ready-to-drink (RTD) shakes, and powders, and low sugar, low carb sweets and baked goods. We are a leader of the nutritious snacking movement, poised to expand our healthy lifestyle platform through innovation-driven organic growth and external investment opportunities. To learn more, visit www.thesimplygoodfoodscompany.com.

Investor Contact
Matt Siler
Vice President, Investor Relations and Treasury
The Simply Good Foods Company
[email protected]

Forward Looking Statements

Certain statements made herein are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by or include words such as “will”, “expect”, “intends” or other similar words, phrases or expressions. These statements relate to future events or our future financial or operational performance and involve known and unknown risks, uncertainties and other factors that could cause our actual results, levels of activity, performance or achievement to differ materially from those expressed or implied by these forward-looking statements. We caution you that these forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. You should not place undue reliance on forward-looking statements. These statements reflect our current views with respect to future events, are based on assumptions and are subject to risks and uncertainties. These risks and uncertainties relate to, among other things, our ability to achieve our estimates of OWYN’s net sales and Adjusted EBITDA and our anticipated synergies from the OWYN Acquisition, our net leverage ratio post-acquisition, our Adjusted EPS post-acquisition, our ability to maintain OWYN personnel and effectively integrate OWYN, our operations being dependent on changes in consumer preferences and purchasing habits regarding our products, a global supply chain and effects of supply chain constraints and inflationary pressure on us and our contract manufacturers, our ability to continue to operate at a profit or to maintain our margins, the effect pandemics or other global disruptions on our business, financial condition and results of operations, the sufficiency of our sources of liquidity and capital, our ability to maintain current operation levels and implement our growth strategies, our ability to maintain and gain market acceptance for our products or new products, our ability to capitalize on attractive opportunities, our ability to respond to competition and changes in the economy including changes regarding inflation and increasing ingredient and packaging costs and labor challenges at our contract manufacturers and third party logistics providers, the amounts of or changes with respect to certain anticipated raw materials and other costs, difficulties and delays in achieving the synergies and cost savings in connection with acquisitions, changes in the business environment in which we operate including general financial, economic, capital market, regulatory and geopolitical conditions affecting us and the industry in which we operate, our ability to maintain adequate product inventory levels to timely supply customer orders, changes in taxes, tariffs, duties, governmental laws and regulations, the availability of or competition for other brands, assets or other opportunities for investment by us or to expand our business, competitive product and pricing activity, difficulties of managing growth profitably, the loss of one or more members of our management team, potential for increased costs and harm to our business resulting from unauthorized access of the information technology systems we use in our business, expansion of our wellness platform and other risks and uncertainties indicated in the Company’s Form 10-K, Form 10-Q, and Form 8-K reports (including all amendments to those reports) filed with the U.S. Securities and Exchange Commission from time to time. In addition, forward-looking statements provide the Company’s expectations, plans or forecasts of future events and views as of the date of this communication. Except as required by law, the Company undertakes no obligation to update such statements to reflect events or circumstances arising after such date and cautions investors not to place undue reliance on any such forward-looking statements. These forward-looking statements should not be relied upon as representing the Company’s assessments as of any date subsequent to the date of this communication.

The Simply Good Foods Company and Subsidiaries
Consolidated Balance Sheets
(Unaudited, dollars in thousands, except share and per share data)   August 29, 2026 August 30, 2025Assets    Current assets:    Cash $138,425  $98,468 Accounts receivable, net  137,036   164,978 Inventories, net  132,458   167,217 Prepaid expenses  7,522   7,209 Other current assets  18,099   15,812 Total current assets  433,540   453,684      Long-term assets:    Property and equipment, net  52,614   39,738 Intangible assets, net  953,004   1,261,603 Goodwill  551,974   589,974 Other long-term assets  45,612   51,046 Total assets $2,036,744  $2,396,045      Liabilities and stockholders’ equity    Current liabilities:    Accounts payable $45,071  $78,298 Accrued interest  —   44 Accrued expenses and other current liabilities  32,702   46,219 Total current liabilities  77,773   124,561      Long-term liabilities:    Long-term debt, less current maturities  347,219   249,066 Deferred income taxes  116,788   166,091 Other long-term liabilities  42,556   49,494 Total liabilities  584,336   589,212 See commitments and contingencies (Note 11)         Stockholders’ equity:    Preferred stock, $0.01 par value, 100,000,000 shares authorized, none issued  —   — Common stock, $0.01 par value, 600,000,000 shares authorized, 104,073,452 and 103,688,071 issued at August 29, 2026 and August 30, 2025, respectively  1,041   1,037 Treasury stock, 15,619,805 shares and 3,957,571 shares at cost at August 29, 2026 and August 30, 2025, respectively  (344,775)  (129,337)Additional paid-in-capital  1,362,717   1,346,687 Retained earnings  434,976   590,879 Accumulated other comprehensive loss  (1,551)  (2,433)Total stockholders’ equity  1,452,408   1,806,833 Total liabilities and stockholders’ equity $2,036,744  $2,396,045  The Simply Good Foods Company and Subsidiaries
Consolidated Statements of Income and Comprehensive Income (Loss)
(Unaudited, dollars in thousands, except share and per share data)   13-Weeks Ended 13-Weeks Ended 52-Weeks Ended 52-Weeks Ended  August 29, 2026 August 30, 2025 August 29, 2026 August 30, 2025Net sales $333,305  $369,041  $1,356,499  $1,450,920 Cost of goods sold  219,974   242,436   914,136   925,173 Gross profit  113,331   126,605   442,363   525,747          Operating expenses:        Selling and marketing  32,429   32,411   129,446   134,282 General and administrative  30,567   40,624   143,901   155,930 Depreciation and amortization  4,452   4,421   17,731   16,900 Business transaction costs  —   —   —   820 Loss on impairment  —   60,928   331,000   60,928 Total operating expenses  67,448   138,384   622,078   368,860          (Loss) income from operations  45,883   (11,779)  (179,715)  156,887          Other income (expense):        Interest income  872   513   2,940   2,663 Interest expense  (5,552)  (4,150)  (21,447)  (23,249)(Loss) gain on foreign currency transactions  (199)  (79)  (65)  (421)Other income  13   3   164   23 Total other income (expense)  (4,866)  (3,713)  (18,408)  (20,984)         (Loss) income before income taxes  41,017   (15,492)  (198,123)  135,903 Income tax (benefit) expense  10,519   (3,135)  (42,220)  32,289 Net (loss) income $30,498  $(12,357) $(155,903) $103,614          Other comprehensive (loss) income:        Foreign currency translation, net of reclassification adjustments  (64)  110   882   (394)Comprehensive (loss) income $30,434  $(12,247) $(155,021) $103,220          (Loss) earnings per share        Basic $0.34  $(0.12) $(1.69) $1.03 Diluted $0.34  $(0.12) $(1.69) $1.02 Weighted average shares outstanding:        Basic  88,456,490   100,419,463   92,372,473   100,695,181 Diluted  88,547,937   100,997,903   92,372,473   101,510,772  The Simply Good Foods Company and Subsidiaries
Consolidated Statements of Cash Flows
(Unaudited, dollars in thousands)   52-Weeks Ended 52-Weeks Ended  August 29, 2026 August 30, 2025Operating activities    Net (loss) income $(155,903) $103,614 Adjustments to reconcile net income to net cash provided by operating activities:    Depreciation and amortization  24,255   21,431 Amortization of deferred financing costs and debt discount  672   1,479 Stock compensation expense  17,280   15,273 Loss on impairment  331,000   60,928 Estimated credit losses (recoveries)  355   241 Unrealized loss (gain) on foreign currency transactions  65   421 Deferred income taxes  (49,452)  3 Amortization of operating lease right-of-use asset  6,068   6,863 Other  1,418   1,133 Changes in operating assets and liabilities:    Accounts receivable, net  28,322   (14,682)Inventories, net  35,852   (25,848)Prepaid expenses  (304)  (1,507)Other current assets  (2,558)  (6,894)Accounts payable  (33,163)  18,535 Accrued interest  (44)  (221)Accrued expenses and other current liabilities  (17,214)  (3,591)Other assets and liabilities  (5,600)  1,279 Net cash provided by operating activities  181,049   178,457 Investing activities    Purchases of property and equipment  (24,102)  (20,542)Acquisition of business, net of cash acquired  —   1,713 Investments in intangible assets and other assets  —   (2,103)Net cash used in investing activities  (24,102)  (20,932)Financing activities    Proceeds from option exercises  1,056   12,917 Tax payments related to issuance of restricted stock units  (2,302)  (3,236)Repurchase of common stock  (213,308)  (50,886)Principal payments of long-term debt  (50,000)  (150,000)Proceeds from issuance of long-term debt  150,000   — Deferred financing costs  (2,632)  — Net cash (used in) provided by financing activities  (117,186)  (191,205)Net increase (decrease) in cash  39,761   (33,680)Effect of exchange rate on cash  196   (382)Cash at beginning of period  98,468   132,530 Cash at end of period $138,425  $98,468           Net Sales by Geographic Area and Brands

The following is a summary of revenue disaggregated by geographic area and brand:

 13-Weeks Ended 13-Weeks Ended 52-Weeks Ended 52-Weeks Ended(In thousands)August 29, 2026 August 30, 2025 August 29, 2026 August 30, 2025North America(1)       Atkins$78,038 $91,682 $332,674 $420,787Quest 217,662  233,169  869,707  863,614OWYN 29,694  37,409  123,785  137,020Total North America 325,394  362,260  1,326,166  1,421,421International(1) 7,911  6,781  30,333  29,499Total$333,305 $369,041 $1,356,499 $1,450,920(1)The North America geographic area consists of net sales substantially related to the United States and there is no individual foreign country to which more than 10% of the Company’s net sales are attributed or that is otherwise deemed individually material.  Reconciliation of EBITDA and Adjusted EBITDA

EBITDA and Adjusted EBITDA. EBITDA and Adjusted EBITDA are non-GAAP financial measures commonly used in our industry and should not be construed as alternatives to net income as an indicator of operating performance or as alternatives to cash flow provided by operating activities as a measure of liquidity (each as determined in accordance with GAAP). Simply Good Foods defines EBITDA as net income or loss before interest income, interest expense, income tax expense, depreciation and amortization, and Adjusted EBITDA as further adjusted to exclude the following items: loss on impairment, stock-based compensation expense, business transaction costs, purchase price accounting inventory step-up, integration expense, term loan transaction fees, restructuring and other costs, and other non-core expenses. The Company believes that EBITDA and Adjusted EBITDA, when used in conjunction with net income, are useful to provide additional information to investors. Management of the Company uses EBITDA and Adjusted EBITDA to supplement net income because these measures reflect operating results of the on-going operations, eliminate items that are not directly attributable to the Company’s underlying operating performance, enhance the overall understanding of past financial performance and future prospects, and allow for greater transparency with respect to the key metrics the Company’s management uses in its financial and operational decision making. The Company also believes that EBITDA and Adjusted EBITDA are frequently used by securities analysts, investors and other interested parties in the evaluation of companies in its industry. EBITDA and Adjusted EBITDA may not be comparable to other similarly titled captions of other companies due to differences in the non-GAAP calculation.

The following unaudited table provides a reconciliation of EBITDA and Adjusted EBITDA to its most directly comparable GAAP measure, which is net income, for the thirteen and fifty-two weeks ended August 29, 2026, and thirteen and fifty-two weeks ended August 30, 2025:

(In thousands)
 13-Weeks Ended 13-Weeks Ended 52-Weeks Ended 52-Weeks Ended August 29, 2026 August 30, 2025 August 29, 2026 August 30, 2025Net (loss) income $30,498  $(12,357) $(155,903) $103,614 Interest income  (872)  (513)  (2,940)  (2,663)Interest expense  5,552   4,150   21,447   23,249 Income tax (benefit) expense  10,519   (3,135)  (42,220)  32,289 Depreciation and amortization  6,159   5,951   24,255   21,431 EBITDA  51,856   (5,904)  (155,361)  177,920 Loss on impairment  —   60,928   331,000   60,928 Stock-based compensation expense  4,094   2,454   17,280   15,273 Business transaction costs  —   —   —   820 Inventory step-up  —   —   —   1,412 Integration expense(1)  —   8,744   10,621   20,856 Term loan transaction fees  —   —   3,030   715 Restructuring and other costs  1,419   —   19,492   — Other(2)  125   17   (193)  238 Adjusted EBITDA $57,494  $66,239  $225,869  $278,162 (1)Includes one-time effects from actions taken to mitigate OWYN product quality issues.(2)Other items consist principally of exchange impact of foreign currency transactions and other expenses.  Reconciliation of Adjusted Diluted Earnings Per Share

Adjusted Diluted Earnings per Share. Adjusted Diluted Earnings per Share is a non-GAAP financial measure commonly used in our industry and should not be construed as an alternative to diluted earnings per share as an indicator of operating performance. Simply Good Foods defines Adjusted Diluted Earnings Per Share as diluted earnings per share before depreciation and amortization, loss on impairment, stock-based compensation expense, business transaction costs, purchase price accounting inventory step-up, integration expense, term loan transaction fees, restructuring and other costs, and other non-core expenses, on a theoretical tax effected basis of such adjustments. The tax effect of such adjustments to Adjusted Diluted Earnings Per Share is calculated by applying an overall assumed statutory tax rate to each gross adjustment as shown in the reconciliation to Adjusted EBITDA, as previously defined. The assumed statutory tax rate reflects a normalized effective tax rate estimated based on assumptions regarding the Company's statutory and effective tax rate for each respective reporting period, including the current and deferred tax effects of each adjustment, and is adjusted for the effects of tax reform, if any. The Company consistently applies the overall assumed statutory tax rate to periods throughout each fiscal year and reassesses the overall assumed statutory rate on annual basis. The Company believes that the inclusion of these supplementary adjustments in presenting Adjusted Diluted Earnings per Share, when used in conjunction with diluted earnings per share, are appropriate to provide additional information to investors, reflects more accurately operating results of the on-going operations, enhances the overall understanding of past financial performance and future prospects and allows for greater transparency with respect to the key metrics the Company uses in its financial and operational decision making. The Company also believes that Adjusted Diluted Earnings per Share is frequently used by securities analysts, investors and other interested parties in the evaluation of companies in its industry. Adjusted Diluted Earnings per Share may not be comparable to other similarly titled captions of other companies due to differences in the non-GAAP calculation.

The following unaudited tables below provide a reconciliation of Adjusted Diluted Earnings Per Share to its most directly comparable GAAP measure, which is diluted earnings per share, for the thirteen and fifty-two weeks ended August 29, 2026, and the thirteen and fifty-two weeks ended August 30, 2025:

  13-Weeks Ended 13-Weeks Ended 52-Weeks Ended 52-Weeks Ended  August 29, 2026 August 30, 2025 August 29, 2026 August 30, 2025Diluted (loss) earnings per share $0.34  $(0.12) $(1.69) $1.02          Depreciation and amortization  0.07   0.06   0.26   0.21 Loss on impairment  —   0.60   3.58   0.60 Stock-based compensation expense  0.05   0.02   0.19   0.15 Business transaction costs  —   —   —   0.01 Inventory step-up  —   —   —   0.01 Integration expense  —   0.09   0.11   0.21 Term loan transaction fees  —   —   0.03   0.01 Restructuring and other costs  0.02   —   0.21   — Tax effects of adjustments(1)  (0.03)  (0.19)  (0.99)  (0.30)Rounding(2)  (0.01)  —   —   — Adjusted diluted earnings per share $0.44  $0.46  $1.70  $1.92 (1)This line item reflects the aggregate tax effect of all non-tax adjustments reflected in the preceding line items of the table. The tax effect of each adjustment is computed (i) by dividing the gross amount of the adjustment, as shown in the Adjusted EBITDA reconciliation, by the number of diluted weighted average shares outstanding for the applicable fiscal period and (ii) applying an overall assumed statutory tax rate of 25% for the thirteen and fifty-two weeks ended August 29, 2026, as well as the thirteen and fifty-two weeks ended August 30, 2025.(2)Adjusted Diluted Earnings Per Share amounts are computed independently for each quarter. Therefore, the sum of the quarterly Adjusted Diluted Earnings Per Share amounts may not equal the year to date Adjusted Diluted Earnings Per Share amounts due to rounding.  Reconciliation of Net Debt to Adjusted EBITDA

Net Debt to Adjusted EBITDA. Net Debt to Adjusted EBITDA is a non-GAAP financial measure which Simply Good Foods defines as the total debt outstanding under our credit agreement with Barclays Bank PLC and other parties (“Credit Agreement”), reduced by cash and cash equivalents, and divided by the trailing twelve months of Adjusted EBITDA, as previously defined.

The following unaudited table below provides a reconciliation of Net Debt to Adjusted EBITDA as of August 29, 2026:

(In thousands) August 29, 2026Net Debt:  Total debt outstanding under the Credit Agreement $350,000 Less: cash and cash equivalents  (138,425)Net Debt as of August 29, 2026 $211,575    Adjusted EBITDA $225,869    Net Debt to Adjusted EBITDA 0.9 x

Shelton, CT, Oct. 27, 2026 (GLOBE NEWSWIRE) --

HUBBELL REPORTS THIRD QUARTER 2026 RESULTS 

Q3 diluted EPS of $4.94; adjusted diluted EPS of $5.91 (up 14% y/y)Q3 net sales +25% (organic +11%; M&A +13%)Q3 operating margin of 21.8%; adjusted operating margin of 25.5% (up 160 bps y/y)FY 2026 diluted EPS expected range of $17.30-$17.50; raising adj. diluted EPS to $20.40-$20.60 SHELTON, CT. (October 27, 2026) – Hubbell Incorporated (NYSE: HUBB) today reported operating results for the third quarter ended September 30, 2026.

“Hubbell delivered strong financial performance in the third quarter, with double digit growth in organic sales, adjusted operating profit, adjusted earnings per share and free cash flow” said Gerben Bakker, Chairman, President and CEO.

Mr. Bakker continued, “Third quarter results were highlighted by >20% organic growth in Electrical Solutions, led by strong datacenter markets and bolstered by content gains and capacity expansion investments. NSI results were strong in the quarter, and performance and integration efforts are trending ahead of our initial expectations. Utility Solutions delivered solid organic growth in the quarter, led by distribution, transmission and substation markets. Orders and end market demand remained strong, driving continued backlog build in the quarter, and we remain focused on proactively investing in capacity expansion to serve our customers in high growth areas.”

Mr. Bakker concluded, "We are raising our full year 2026 outlook, primarily driven by stronger anticipated Electrical Solutions growth."

Certain terms used in this release, including “net debt”, “free cash flow”, “organic net sales”, “organic net sales growth”, “restructuring-related costs”, “Adjusted EBITDA”, and certain other “adjusted” measures, are defined under the section entitled “Non-GAAP Definitions.” See page 11 for more information.

THIRD QUARTER FINANCIAL HIGHLIGHTS

The comments and year-over-year comparisons in this segment review are based on third quarter results in 2026 and 2025.

Utility Solutions segment net sales in the third quarter of 2026 increased 9% to $1,028 million compared to $944 million reported in the third quarter of 2025. Organic net sales increased approximately 5% in the quarter compared to the third quarter of 2025. Grid Infrastructure net sales increased approximately 13% and Grid Automation net sales decreased approximately 4%. Segment operating income in the third quarter of 2026 was $241 million, or 23.5% of net sales, compared to $219 million, or 23.2% of net sales, in the same period of 2025. Adjusted operating income was $267 million, or 26.0% of net sales, in the third quarter of 2026 as compared to $242 million, or 25.7% of net sales, in the same period of the prior year. Changes in operating income and operating margin were primarily due to volume growth, the impact of acquisitions, favorable price realization, productivity and a net tariff benefit, partially offset by higher cost inflation and raw material costs.

Electrical Solutions segment net sales in the third quarter of 2026 increased 51% to $845 million compared to $559 million reported in the third quarter of 2025. Organic net sales increased 22% in the quarter, while acquisitions added 29%. Segment operating income in the third quarter of 2026 was $168 million, or 19.8% of net sales, compared to $111 million, or 19.9% of net sales, in the same period of 2025. Adjusted operating income was $210 million, or 24.8% of net sales, in the third quarter of 2026 as compared to $116 million, or 20.8% of net sales, in the same period of the prior year. Changes in operating income and operating margin were driven primarily by volume growth, the impact of acquisitions, favorable price realization, productivity and a net tariff benefit, partially offset by higher cost inflation and raw material costs.

Adjusted diluted EPS in the third quarter of 2026 excluded $0.89 of amortization of acquisition-related intangible assets and $0.08 of transaction, integration & separation costs. Adjusted diluted EPS in the third quarter of 2025 excluded $0.35 of amortization of acquisition-related intangible assets and $0.05 of transaction, integration, & separation costs.
Net cash provided by operating activities was $323 million in the third quarter of 2026 versus net cash provided by operating activities of $284 million in the same period in 2025. Free cash flow was $280 million in the third quarter of 2026 versus $254 million in the comparable period of 2025.

SUMMARY & OUTLOOK

For the full year 2026, Hubbell anticipates total sales growth of 18-19%, including organic sales growth of 10-11%. Hubbell expects 2026 GAAP diluted earnings per share in the range of $17.30 to $17.50 and adjusted diluted earnings per share (“Adjusted EPS”) in the range of $20.40 to $20.60. For the full year, Adjusted EPS excludes amortization of acquisition-related intangible assets, which the Company expects to be approximately $2.50 per share, and transaction, integration, and separation costs, which the Company expects to be approximately $0.60 per share. The Company believes Adjusted EPS is a useful measure of underlying performance in light of our acquisition strategy.

The diluted earnings per share and Adjusted EPS ranges are based on an adjusted tax rate of 22.0% to 22.5% and include approximately $20 million of anticipated restructuring and related investment. The Company expects full year 2026 free cash flow conversion of approximately 90% on adjusted net income.

CONFERENCE CALL

Hubbell will conduct an earnings conference call to discuss its third quarter 2026 financial results today, October 27, 2026 at 10:00 a.m. ET. A live audio of the conference call will be available and can be accessed by visiting Hubbell's "Investor Relations - Events/Presentations" section of www.hubbell.com. Audio replays will also be available at the conclusion of the call by visiting www.hubbell.com and selecting "Investors" from the options at the bottom of the page and then "Events/Presentations" from the drop-down menu.

FORWARD-LOOKING STATEMENTS

Certain statements contained herein may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements generally relate to our expectations and beliefs regarding our financial results, condition and outlook, projections of future performance, anticipated growth and end markets, changes in operating results, market conditions and economic conditions, expected capital resources, liquidity, financial performance, pension funding and results of operations, plans, strategies, opportunities, developments and productivity initiatives, competitive positioning, and trends in particular markets or industries. In addition, statements related to our outlook for the fourth quarter and full year 2026 and beyond, and all statements set forth in the “Summary & Outlook” section above, as well as other statements that are not strictly historic in nature, are forward-looking. These statements may be identified by the use of forward-looking words or phrases such as “believe”, “expect”, “anticipate”, “intend”, “depend”, “plan”, “estimated”, “predict”, “target”, “should”, “could”, “may”, “subject to”, “continues”, “growing”, “prospective”, “forecast”, “projected”, “purport”, “might”, “if”, “contemplate”, “potential”, “pending”, “goals”, “scheduled”, “will”, “will likely be”, and similar words and phrases. Such forward-looking statements are based on our current expectations and involve numerous assumptions, known and unknown risks, uncertainties and other factors which may cause actual and future performance or the Company’s achievements to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Such factors include, but are not limited to: the impact of and substantial uncertainty regarding the duration of existing and newly announced trade tariffs, import quotas or other trade actions, restrictions or measures taken by the United States, China, Mexico, the United Kingdom, member states of the European Union, and other countries, including the recent and ongoing potential changes in U.S. trade policies, that may be made by the current or a future presidential administration and changes in trade policies in other countries made in response to changes in the U.S. trade policies; the timing of and eligibility for anticipated additional International Emergency Economic Power Act (IEEPA) tariff refunds; the general impact of inflation on our business, including the impact on raw materials costs, elevated interest rates and increased energy costs and our ability to implement and maintain pricing actions that we have taken to cover higher costs and protect our margin profile; economic and business conditions in particular industries, markets or geographic regions, as well the potential for macro-economic effects of the U.S. government federal deficit, and continued inflation, a significant economic slowdown, stagflation or recession; effects of unfavorable foreign currency exchange rates and the potential use of hedging instruments to hedge the exposure to fluctuating rates of foreign currency exchange on inventory purchases; supply chain disruptions and availability,
costs and quantity of raw materials, purchased components, energy and freight; changes in demand for our products, market conditions, product quality, or product availability adversely affecting sales levels; ability to effectively develop and introduce new products; changes in markets or competition adversely affecting realization of price increases; continued strength in datacenter markets, notwithstanding certain opposition; continued softness in the heavy industrial and residential markets of Electrical Solutions; failure to achieve projected levels of efficiencies, and maintain cost savings and cost reduction measures, including those expected as a result of our lean initiatives and strategic sourcing plans; failure to comply with import and export laws; changes relating to impairment of our goodwill and other intangible assets; inability to access capital markets or failure to maintain our credit ratings; changes in expected or future levels of operating cash flow, indebtedness and capital spending; regulatory issues, and extensive worldwide changes to the taxation of multinational enterprises, including global minimum tax rules under the Organisation for Economic Co-operation and Development’s Pillar Two initiative and potential modifications to corporate taxation by the U.S. government, including adjustments to tax rates, deduction limitations, cross-border tax provisions, and administrative guidance; a major disruption in one or more of our manufacturing or distribution facilities or headquarters, including the impact of plant consolidations and relocations; changes in our relationships with, or the financial condition or performance of, key distributors and other customers, agents or business partners which could adversely affect our results of operations; impact of productivity improvements on lead times, quality and delivery of product; anticipated future contributions and assumptions including increases in interest rates and changes in plan assets with respect to pensions and other retirement benefits, as well as pension withdrawal liabilities; adjustments to product warranty accruals in response to claims incurred, historical experiences and known costs; unexpected costs or charges, certain of which might be outside of our control; changes in strategy due to economic conditions or other conditions outside of our control affecting anticipated future global product sourcing levels; ability to carry out future acquisitions and strategic investments in our core businesses as well as the acquisition related costs; the ability to successfully manage and integrate acquired businesses, such as the acquisitions of NSI Electrical Buyer, Inc. (the NSI Industries business), Alliance USAcqCo 2, Inc. (the Ventev business), Nicor, Inc. (the Nicor business), and Power Rose Acquisition, Inc. (the DMC Power business), as well as the failure to realize expected synergies and benefits anticipated when we make an acquisition due to potential adverse reactions or changes to business or employee relationships resulting from completion of the transaction, competitive responses to the transaction, the possibility that the anticipated benefits of the transaction are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of an acquired business, diversion of management’s attention from ongoing business operations and opportunities, and litigation relating to the transaction; the impact of certain divestitures, including the benefits and costs of the sale of the residential lighting business;
the ability to effectively implement Enterprise Resource Planning systems without disrupting operational and financial processes; the ability of government customers to meet their financial obligations; political unrest and military actions in foreign countries, including the conflicts in Ukraine and the Middle East and trade tensions with China, as well as the impact on world markets and energy supplies and prices resulting therefrom, including the U.S.-Israel-Iran conflict, which has had substantial effects on global trade, the energy markets and the financial markets; the impact of potential natural disasters or additional public health emergencies on our financial condition and results of operations; failure of information technology systems, cybersecurity breaches, cyber threats, malware, phishing attacks, break-ins and similar events resulting in unauthorized disclosure of confidential information or disruptions or damage to information technology systems that could cause interruptions to our operations or adversely affect our internal control over financial reporting, including the impact of issues that may arise from the use of artificial intelligence technologies; incurring significant and/or unexpected costs to avoid, manage, defend and litigate intellectual property matters; future repurchases of common stock under our common stock repurchase program; changes in accounting principles, interpretations, or estimates; failure to comply with any laws and regulations, including those related to data privacy and information security, environmental laws and those relating to conflict-free minerals; the outcome of environmental, legal and tax contingencies or costs compared to amounts provided for such contingencies, including contingencies or costs with respect to pension withdrawal liabilities; improper conduct by any of our employees, agents or business partners that damages our reputation or subjects us to civil or criminal liability; our ability to hire, retain and develop qualified personnel; and other factors described in our Securities and Exchange Commission filings, including in the “Business”, “Risk Factors”, “Management’s Discussion and Analysis of Financial Condition and Results of Operations”, “Forward-Looking Statements” and “Quantitative and Qualitative Disclosures about Market Risk” sections in our annual and quarterly reports filed with Securities and Exchange Commission. Any such forward-looking statements are not guarantees of future performance and actual results, developments and business decisions may differ from those contemplated by such forward-looking statements. The Company disclaims any duty to update any forward-looking statement, all of which are expressly qualified by the foregoing, other than as required by law.
About the Company

Hubbell Incorporated is a leading manufacturer of utility and electrical solutions enabling customers to operate critical infrastructure safely, reliably and efficiently. With 2025 revenues of $5.8 billion, Hubbell solutions electrify economies and energize communities. The corporate headquarters is located in Shelton, CT.

Contact:        
          

Dan InnamoratoHubbell Incorporated40 Waterview DriveP.O. Box 1000Shelton, CT 06484(475) 882-4000     #######

NON-GAAP DEFINITIONS

References to "adjusted" operating measures exclude the impact of certain costs, gains or losses. Management believes these adjusted operating measures provide useful information regarding our underlying performance from period to period and an understanding of our results of operations without regard to items we do not consider a component of our core operating performance. Adjusted operating measures are non-GAAP measures, and include adjusted operating income, adjusted operating margin, adjusted net income attributed to Hubbell Incorporated, adjusted net income available to common shareholders, adjusted earnings per diluted share, and Adjusted EBITDA. These non-GAAP measures exclude, where applicable:

Amortization of all intangible assets associated with our business acquisitions, including inventory step-up amortization associated with those acquisitions. The intangible assets associated with our business acquisitions arise from the allocation of the purchase price using the acquisition method of accounting in accordance with Accounting Standards Codification 805, “Business Combinations.” These assets consist primarily of customer relationships, developed technology, trademarks and tradenames, and patents, as reported in Note 6—Goodwill and Other Intangible Assets, under the heading “Total Definite-Lived Intangibles,” within the Company’s audited Consolidated Financial Statements set forth in its Annual Report on Form 10-K for fiscal year ended December 31, 2025. The Company believes that the exclusion of these non-cash expenses (i) enhances management’s and investors’ ability to analyze underlying business performance, (ii) facilitates comparisons of our financial results over multiple periods, and (iii) provides more relevant comparisons of our results with the results of other companies as the amortization expense associated with these assets may fluctuate significantly from period to period based on the timing, size, nature, and number of acquisitions. Although we exclude amortization of these acquired intangible assets and inventory step-up from our non-GAAP results, we believe that it is important for investors to understand that revenue generated, in part, from such intangibles is included within revenue in determining adjusted net income attributable to Hubbell Incorporated. Transaction, integration, and separation costs associated with our business acquisitions and divestitures. The effect that acquisitions and divestitures may have on our results can fluctuate significantly based on the timing, size, and number of transactions, and therefore result in significant volatility in the costs to complete transactions and integrate or separate the businesses. Transaction costs are primarily professional services and other fees incurred to complete the transactions recognized within operating income, as well as $7.2 million of bridge financing costs in connection with the transactions recognized within interest expense during the second quarter of 2026. Integration and separation costs are the internal and external incremental costs directly relating to these activities for the acquired or divested business. The acquisition and integration of NSI, DMC Power and the acquisitions and disposition completed by the Company in the fourth quarter of 2023 resulted in a significant increase in transaction, integration and separation costs. As a result, we believe excluding such costs relating to these transactions provides useful and more comparable information for investors to better assess our operating performance from period to period.Gains or losses on disposition of a business. The Company excludes these gains or losses because we believe they enhance management's and investors' ability to analyze underlying business performance and facilitates comparisons of our financial results over multiple periods. In the second quarter of 2025 the Company recognized a $0.4 million pre-tax loss on the disposition of a product line in the Electrical Solutions segment.Income tax effects of the above adjustments, which are calculated using the statutory tax rate, taking into consideration the nature of the item and the relevant taxing jurisdiction, unless otherwise noted. Adjusted EBITDA is a non-GAAP measure that excludes the items noted above and also excludes the Other income (expense), net, Interest expense, net, and Provision for income taxes captions of the Condensed Consolidated Statement of Income, as well as depreciation and amortization expense.

Net debt (defined as total debt less cash and investments) to total capital is a non-GAAP measure that we believe is a useful measure for evaluating the Company's financial leverage and the ability to meet its funding needs.

Free cash flow is a non-GAAP measure that we believe provides useful information regarding the Company's ability to generate cash without reliance on external financing. In addition, management uses free cash flow to evaluate the resources available for investments in the business, strategic acquisitions and further strengthening the balance sheet.

In connection with our restructuring and related actions, we have incurred restructuring costs as defined by U.S. GAAP, which are primarily severance and employee benefits, asset impairments, accelerated depreciation, as well as facility closure, contract termination and certain pension costs that are directly related to restructuring actions. We also incur restructuring-related costs, which are costs associated with our business transformation initiatives, including the consolidation of back-office functions and streamlining our processes, and certain other costs and gains associated with restructuring actions. We refer to these costs on a combined basis as "restructuring and related costs", which is a non-GAAP measure.

Organic net sales, a non-GAAP measure, represents Net sales according to U.S. GAAP, less Net sales from acquisitions and divestitures during the first twelve months of ownership or divestiture, respectively, less the effect of fluctuations in Net sales from foreign currency exchange. The period-over-period effect of fluctuations in Net sales from foreign currency exchange is calculated as the difference between local currency Net sales of the prior period translated at the current period exchange rate as compared to the same local currency Net sales translated at the prior period exchange rate. We believe this measure provides management and investors with a more complete understanding of the underlying operating results and trends of established, ongoing operations by excluding the effect of acquisitions, dispositions and foreign currency, as these activities can obscure underlying trends. When comparing Net sales growth between periods excluding the effects of acquisitions, business dispositions and currency exchange rates, those effects are different when comparing results for different periods. For example, because Net sales from acquisitions are considered inorganic from the date we complete an acquisition through the end of the first year following the acquisition, Net sales from such acquisitions are reflected as organic net sales thereafter.

There are limitations to the use of non-GAAP measures. Non-GAAP measures do not present complete financial results. We compensate for this limitation by providing a reconciliation between our non-GAAP financial measures and the respective most directly comparable financial measure calculated and presented in accordance with GAAP. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies’ non-GAAP financial measures having the same or similar names. These financial measures should not be considered in isolation from, as substitutes for, or alternative measures of, reported GAAP financial results, and should be viewed in conjunction with the most comparable GAAP financial measures and the provided reconciliations thereto. We believe, however, that these non-GAAP financial measures, when viewed together with our GAAP results and related reconciliations, provide a more complete understanding of our business. We strongly encourage investors to review our consolidated financial statements and publicly filed reports in their entirety and not rely on any single financial measure.

Reconciliations of each of these non-GAAP measures to the most directly comparable GAAP measure can be found in the tables below. When we provide our expectations for organic net sales, adjusted effective tax rate, adjusted diluted EPS and free cash flow on a forward-looking basis, a reconciliation of the differences between the non-GAAP expectations and the corresponding GAAP measures (expected net sales, effective tax rate, diluted EPS and net cash flows provided by operating activities) generally is not available without unreasonable effort due to potentially high variability, complexity and low visibility as to the items that would be excluded from the GAAP measure in the relevant future period, such as unusual gains and losses, fluctuations in foreign currency exchange rates, the impact and timing of potential acquisitions and divestitures, certain financing costs, and other structural changes or their probable significance. The variability of the excluded items may have a significant, and potentially unpredictable, impact on our future GAAP results.

HUBBELL INCORPORATED
Condensed Consolidated Statement of Income
(unaudited)
(in millions, except per share amounts)

 Three Months Ended September 30, Nine Months Ended September 30,  2026   2025   2026   2025 Net sales$        1,872.5          $        1,502.4          $        5,101.0          $        4,351.9         Cost of goods sold         1,184.3                   958.1                   3,294.5                   2,812.9         Gross profit         688.2                   544.3                   1,806.5                   1,539.0         Selling & administrative expenses         279.5                   213.7                   785.4                   641.7         Operating income         408.7                   330.6                   1,021.1                   897.3         Operating income as a % of Net sales         21.8        %          22.0        %          20.0        %          20.6        %Loss on disposition of business         —                   —                   —                   (0.4        )Interest expense, net         (58.0        )          (13.6        )          (119.1        )          (41.9        )Other expense, net         (5.4        )          (5.9        )          (16.6        )          (17.4        )Total other expense, net         (63.4        )          (19.5        )          (135.7        )          (59.7        )Income before income taxes         345.3                   311.1                   885.4                   837.6         Provision for income taxes         80.7                   54.4                   195.6                   170.9         Net income          264.6                   256.7                   689.8                   666.7         Less: Net income attributable to noncontrolling interest         (2.1        )          (1.2        )          (5.1        )          (3.8        )Net income attributable to Hubbell Incorporated$        262.5          $        255.5          $        684.7          $        662.9                 Earnings Per Share:       Basic earnings per share$        4.96          $        4.80          $        12.92          $        12.42         Diluted earnings per share $        4.94          $        4.77          $        12.86          $        12.35          HUBBELL INCORPORATED
Condensed Consolidated Balance Sheet
(unaudited)
(in millions)

 September 30, 2026 December 31, 2025ASSETS   Cash and cash equivalents$        334.5         $        482.5        Short-term investments          20.5                  15.4        Accounts receivable (net of allowances of $19.4 and $13.9)         1,228.8                  856.9        Inventories, net         1,327.2                  1,083.8        Other current assets          174.5                  155.4        TOTAL CURRENT ASSETS         3,085.5                  2,594.0        Property, plant and equipment, net         913.2                  841.2        Investments          100.5                  98.4        Goodwill         4,368.2                  3,060.8        Other intangible assets, net         3,143.4                  1,394.3        Other long-term assets         287.5                  240.1        TOTAL ASSETS$        11,898.3         $        8,228.8        LIABILITIES AND EQUITY   Short-term debt and current portion of long-term debt$        613.8         $        289.1        Accounts payable         662.4                  570.5        Accrued salaries, wages and employee benefits         161.2                  115.4        Accrued insurance         83.4                  83.0        Other accrued liabilities         497.8                  450.7        TOTAL CURRENT LIABILITIES         2,018.6                  1,508.7        Long-term debt         4,506.4                  2,036.3        Deferred tax liabilities         819.1                  420.1        Other non-current liabilities         436.4                  405.8        TOTAL LIABILITIES         7,780.5                  4,370.9        Hubbell Incorporated Shareholders' Equity         4,105.6                  3,847.9        Noncontrolling interest         12.2                  10.0        TOTAL EQUITY         4,117.8                  3,857.9        TOTAL LIABILITIES AND EQUITY$        11,898.3         $        8,228.8         HUBBELL INCORPORATED
Condensed Consolidated Statement of Cash Flows
(unaudited)
(in millions)

 Nine Months Ended September 30,  2026   2025 Cash Flows From Operating Activities    Net income attributable to Hubbell$        684.7          $        662.9         Depreciation and amortization         220.1                   144.6         Deferred income taxes         (3.6)          (8.2)Stock-based compensation expense         30.0                   27.0         Loss on disposition of business         —                   0.4         Loss on sale of assets         2.2                   0.9         Changes in assets and liabilities, net of acquisitions   Accounts receivable, net         (253.1)          (147.7)Inventories, net         (148.4)          (37.9)Accounts payable         79.5                   (10.9)Current liabilities         36.7                   (38.8)Other assets and liabilities, net         3.0                   11.2         Contributions to defined benefit pension plans         (1.4)          (21.4)Other, net         9.3                   0.2          Net cash provided by operating activities          659.0                   582.3         Cash Flows From Investing Activities    Capital expenditures         (119.8)          (96.4)Acquisition of businesses, net of cash acquired         (3,005.7)          (129.1)Proceeds from disposal of business, net of cash         —                   2.6         Purchases of available-for-sale investments         (15.5)          (17.6)Proceeds from sales of available-for-sale investments         11.3                   12.7         Other, net         9.9                   12.4          Net cash used in investing activities          (3,119.8)          (215.4)Cash Flows From Financing Activities    Issuance of long-term debt         2,787.5                   —         Borrowing of short-term debt, net         25.2                   426.3         Payment of dividends         (225.4)          (211.1)Debt issuance costs         (21.4)          —         Repurchase of common shares         (203.5)          (225.0)Other, net         (43.3)          (32.8) Net cash provided by (used in) financing activities          2,319.1                   (42.6)Effect of foreign exchange rate changes on cash and cash equivalents         (2.1)          13.0         (Decrease) increase in cash, cash equivalents and restricted cash         (143.8)          337.3         Cash and cash equivalents, beginning of year         482.5                   329.1         Restricted cash, included in other assets, beginning of year         1.8                   2.5         Less: Restricted cash, included in other assets         6.0                   2.1         Cash and cash equivalents, end of quarter$        334.5          $        666.8          HUBBELL INCORPORATED
Earnings Per Share
(unaudited)
(in millions, except per share amounts)

 Three Months Ended September 30, Nine Months Ended September 30,  2026   2025  Change  2026   2025  ChangeNet income attributable to Hubbell (GAAP measure)$        262.5          $        255.5                  3        % $        684.7          $        662.9                  3        %Amortization of acquisition-related intangible assets         62.2                   24.7                     134.7                   74.6           Transaction, integration & separation costs         5.9                   3.1                     37.4                   4.2           Loss on disposition of business         —                   —                     —                   0.4           Subtotal$        330.6          $        283.3            $        856.8          $        742.1           Income tax effects         16.3                   6.7                     38.9                   18.8           Adjusted net income$        314.3          $        276.6                  14        % $        817.9          $        723.3                  13        %            Numerator:           Net income attributable to Hubbell (GAAP measure)$        262.5          $        255.5            $        684.7          $        662.9           Less: Earnings allocated to participating securities         (0.4)          (0.4)            (0.9)          (1.1)  Net income available to common shareholders (GAAP measure) [a]$        262.1          $        255.1                  3        % $        683.8          $        661.8                  3        %            Adjusted net income $        314.3          $        276.6            $        817.9          $        723.3           Less: Earnings allocated to participating securities         (0.4)          (0.4)            (1.1)  (1.2)  Adjusted net income available to common shareholders [b]$        313.9          $        276.2                  14        % $        816.8          $        722.1                  13        %            Denominator:           Average number of common shares outstanding [c]         52.9                   53.1                     52.9                   53.3           Potential dilutive shares         0.2                   0.3                     0.2                   0.3           Average number of diluted shares outstanding [d]         53.1                   53.4                     53.1                   53.6                       Earnings per share (GAAP measure):           Basic [a] / [c]$        4.96          $        4.80            $        12.92          $        12.42           Diluted [a] / [d]$        4.94          $        4.77                  4        % $        12.86          $        12.35                  4        %            Adjusted earnings per diluted share [b] / [d]$        5.91          $        5.17                  14        % $        15.37          $        13.48                  14        % HUBBELL INCORPORATED
Segment Information
(unaudited)
(in millions)

Hubbell IncorporatedThree Months Ended September 30, Nine Months Ended September 30,  2026   2025  Change  2026   2025  ChangeNet Sales [a]$        1,872.5          $        1,502.4                  25        % $        5,101.0          $        4,351.9                  17        %            Operating Income           GAAP measure [b]$        408.7          $        330.6                  24        % $        1,021.1          $        897.3                  14        %Amortization of acquisition-related intangible assets         62.2                   24.7                     134.7                   74.6           Transaction, integration & separation costs         5.9                   3.1                     30.2                   4.2           Adjusted operating income [c]$        476.8          $        358.4                  33        % $        1,186.0          $        976.1                  22        %            Operating margin           GAAP measure [b] / [a]         21.8        %          22.0        % -20 bps          20.0        %          20.6        % -60 bpsAdjusted operating margin [c] / [a]          25.5        %          23.9        % +160 bps          23.3        %          22.4        % +90 bps Utility SolutionsThree Months Ended September 30, Nine Months Ended September 30,  2026   2025  Change  2026   2025  ChangeNet Sales [a]$        1,027.8          $        943.8                  9        % $        3,002.5          $        2,736.4                  10        %            Operating Income           GAAP measure [b]$        241.2          $        219.3                  10        % $        650.2          $        588.3                  11        %Amortization of acquisition-related intangible assets         23.2                   19.9                     78.1                   59.7           Transaction, integration & separation costs         2.9                   3.1                     9.1                   3.7           Adjusted operating income [c]$        267.3          $        242.3                  10        % $        737.4          $        651.7                  13        %            Operating margin           GAAP measure [b] / [a]         23.5        %          23.2        % +30 bps          21.7        %          21.5        % +20 bpsAdjusted operating margin [c] / [a]         26.0        %          25.7        % +30 bps          24.6        %          23.8        % +80 bps Electrical SolutionsThree Months Ended September 30, Nine Months Ended September 30,  2026   2025  Change  2026   2025  ChangeNet Sales [a]$        844.7          $        558.6                  51        % $        2,098.5          $        1,615.5                  30        %            Operating Income           GAAP measure [b]$        167.5          $        111.3                  50        % $        370.9          $        309.0                  20        %Amortization of acquisition-related intangible assets         39.0                   4.8                     56.6                   14.9           Transaction, integration & separation costs         3.0                   —                     21.1                   0.5           Adjusted operating income [c]$        209.5          $        116.1                  80        % $        448.6          $        324.4                  38        %            Operating margin           GAAP measure [b] / [a]         19.8        %          19.9        % -10 bps          17.7        %          19.1        % -140 bpsAdjusted operating margin [c] / [a]         24.8        %          20.8        % +400 bps          21.4        %          20.1        % +130 bps HUBBELL INCORPORATED
Organic Net Sales Growth
(unaudited)
(in millions and percentage change)

Hubbell IncorporatedThree Months Ended September 30, Nine Months Ended September 30,  2026 Inc/(Dec)%  2025 Inc/(Dec)%  2026 Inc/(Dec)%  2025  Inc/(Dec)%Net sales growth (decline) (GAAP measure)$        370.1                 24.6         $        59.8                 4.1         $        749.1                 17.1         $        57.7                  1.3         Impact of acquisitions         198.8                 13.2                  11.5                 0.8                  301.8                 6.9                  20.9                  0.5         Impact of divestitures         —                 —                  —                 —                  —                 —                  (21.1)         (0.5)Foreign currency exchange         2.0                 0.1                  1.6                 0.1                  14.6                 0.3                  (9.1)         (0.3)Organic net sales growth (decline) (non-GAAP measure)$        169.3                 11.3         $        46.7                 3.2         $        432.7                 9.9         $        67.0                  1.6          Utility SolutionsThree Months Ended September 30, Nine Months Ended September 30,  2026 Inc/(Dec)%  2025 Inc/(Dec)%  2026 Inc/(Dec)%  2025  Inc/(Dec)%Net sales growth (decline) (GAAP measure)$        84.0                 8.9         $        10.7                 1.2         $        266.1                 9.7         $        (17.2)         (0.6)Impact of acquisitions         36.3                 3.8                  5.4                 0.6                  102.6                 3.7                  5.4                  0.2         Impact of divestitures         —                 —                  —                 —                  —                 —                  —                  —         Foreign currency exchange         1.5                 0.2                  0.8                 0.1                  8.1                 0.3                  (4.8)         (0.2)Organic net sales growth (decline) (non-GAAP measure)$        46.2                 4.9         $        4.5                 0.5         $        155.4                 5.7         $        (17.8)         (0.6) Electrical SolutionsThree Months Ended September 30, Nine Months Ended September 30,  2026 Inc/(Dec)%  2025 Inc/(Dec)%  2026 Inc/(Dec)%  2025  Inc/(Dec)%Net sales growth (GAAP measure)$        286.1                 51.2         $        49.1                 9.6         $        483.0                 29.9         $        74.9                  4.9         Impact of acquisitions         162.5                 29.1                  6.1                 1.1                  199.2                 12.3                  15.5                  1.0         Impact of divestitures         —                 —                  —                 —                  —                 —                  (21.1)         (1.4)Foreign currency exchange         0.5                 0.1                  0.8                 0.2                  6.5                 0.4                  (4.3)         (0.2)Organic net sales growth (non-GAAP measure)$        123.1                 22.0         $        42.2                 8.3         $        277.3                 17.2         $        84.8                  5.5          HUBBELL INCORPORATED
Adjusted EBITDA
(unaudited)
(in millions)

 Three Months Ended September 30,  2026  2025 ChangeNet income$        264.6         $        256.7                 3        %Provision for income taxes         80.7                  54.4          Interest expense, net         58.0                  13.6          Other expense, net         5.4                  5.9          Depreciation and amortization         92.3                  49.4          Loss on disposition of business         —                  —          Transaction and integration costs in operating income         5.9                  3.1          Subtotal         242.3                  126.4          Adjusted EBITDA $        506.9         $        383.1                 32        %  Nine Months Ended September 30,  2026  2025 ChangeNet income$        689.8         $        666.7                 3        %Provision for income taxes         195.6                  170.9          Interest expense, net         119.1                  41.9          Other expense, net         16.6                  17.4          Depreciation and amortization         220.1                  144.6          Loss on disposition of business         —                  0.4          Transaction and integration costs in operating income         30.2                  4.2          Subtotal         581.6                  379.4          Adjusted EBITDA $        1,271.4         $        1,046.1                 22        % HUBBELL INCORPORATED
Restructuring and Related Costs Included in Consolidated Results
(unaudited)
(in millions, except per share amounts)

 Three Months Ended September 30,  2026  2025  2026  2025  2026  2025 Costs of goods sold S&A expense TotalRestructuring costs (GAAP Measure)$        0.4         $        3.8         $        0.3         $        1.9         $        0.7         $        5.7        Restructuring related costs          0.7                  0.4                  1.3                  0.6                  2.0                  1.0        Restructuring and related costs (non-GAAP measure) $        1.1         $        4.2         $        1.6         $        2.5         $        2.7         $        6.7          Nine Months Ended September 30,  2026  2025  2026  2025  2026  2025 Costs of goods sold S&A expense TotalRestructuring costs (GAAP Measure)$        6.5         $        8.2         $        1.0         $        2.0         $        7.5         $        10.2        Restructuring related costs         2.6                  2.9                  3.2                  0.4                  5.8                  3.3        Restructuring and related costs (non-GAAP measure) $        9.1         $        11.1         $        4.2         $        2.4         $        13.3         $        13.5          Three Months Ended September 30, Nine Months Ended September 30,  2026  2025  2026  2025Restructuring and related costs included in Cost of goods sold (non-GAAP measure)       Utility Solutions$        0.4         $        1.8         $        1.3         $        5.9        Electrical Solutions         0.7                  2.4                  7.8                  5.2        Total$        1.1         $        4.2         $        9.1         $        11.1        Restructuring and related costs included in Selling & administrative expenses (non-GAAP measure)       Utility Solutions$        —         $        0.7         $        —         $        0.8        Electrical Solutions         1.6                  1.8                  4.2                  1.6        Total$        1.6         $        2.5         $        4.2         $        2.4                Impact on Income before income taxes (non-GAAP measure)$        2.7         $        6.7         $        13.3         $        13.5        Impact on Net income available to Hubbell common shareholders (non-GAAP measure)         2.1                  5.1                  10.1                  10.3        Impact on Diluted earnings per share (non-GAAP measure)$        0.04         $        0.09         $        0.19         $        0.19         HUBBELL INCORPORATED
Additional Non-GAAP Financial Measures
(unaudited)
(in millions)

Ratios of Total Debt to Total Capital and Net Debt to Total Capital

 September 30, 2026 December 31, 2025Total Debt (GAAP measure)$        5,120.2          $        2,325.4         Total Hubbell Shareholders’ Equity         4,105.6                   3,847.9         Total Capital$        9,225.8          $        6,173.3         Total Debt to Total Capital (GAAP measure)         55        %          38        %Less: Cash and Investments$        455.5          $        596.3         Net Debt (non-GAAP measure)$        4,664.7          $        1,729.1         Net Debt to Total Capital (non-GAAP measure)         51        %          28        % Free Cash Flow Reconciliation

Free Cash Flow Reconciliation Flow Reconciliation

         Three Months Ended September 30, Nine Months Ended September 30,  2026   2025   2026   2025 Net cash provided by operating activities (GAAP measure)$        322.6          $        284.3          $        659.0          $        582.3         Less: Capital expenditures         (42.2)          (30.5)          (119.8)          (96.4)Free cash flow (non-GAAP measure)$        280.4          $        253.8          $        539.2          $        485.9         

CoreWeave, Inc. (Nasdaq: CRWV), The Essential Cloud for AI™, today announced an expansion of its global AI cloud platform, bringing new computing capacity online in Denmark and extending its Global AI Network into the Middle East and Asia Pacific. The expansion strengthens CoreWeave’s ability to deliver the performance, reliability, and connectivity customers need to build and scale AI workloads across international markets.

As AI workloads move into production across more industries and geographies, customers need computing capacity where they operate and the ability to move large volumes of data securely and efficiently between regions. CoreWeave is expanding both capabilities as part of its fully integrated, purpose-built AI cloud platform, reducing the infrastructure complexity that can slow AI development and deployment.

With this expansion, CoreWeave is building the first global AI backbone network, purpose-built for AI workloads, at Petabit-scale, that connects locations in North America, Europe, the Middle East, and Asia Pacific.

“Our customers need more than access to computing capacity. They need infrastructure that performs reliably at scale and the ability to move data and workloads wherever their business requires,” said Sachin Jain, chief operating officer of CoreWeave. “We’re expanding our global infrastructure and the network connecting it together, so customers can focus on building and improving AI rather than managing the complexity underneath it.”

CoreWeave has brought the majority of its planned 22.5 megawatts (MW) of IT capacity online at atNorth’s DEN01 data center in Copenhagen, marking its first deployment in Denmark. DEN01 has a heat reuse agreement in place to supply surplus heat to the district heating network, reducing reliance on alternative heating sources and contributing to Denmark’s green transition.

Accelerated by NVIDIA Blackwell systems connected with NVIDIA Quantum-X800 InfiniBand, the facility expands CoreWeave’s European infrastructure footprint to nine data centers across five geographies, including the United Kingdom, Spain, Sweden, and Norway.

“Modern workloads demand digital infrastructure that is not only high performance, but also energy efficient and responsibly operated, “said Eyjólfur Magnús Kristinsson, CEO at atNorth. “By partnering with atNorth, CoreWeave gains access to DEN01’s infrastructure, designed for GPU-intensive processing, while supporting renewable energy development through power purchase agreements and helping warm local homes through heat reuse, contributing to the green transition.”

To connect its growing international infrastructure footprint, CoreWeave is extending its global AI network backbone with new points of presence in the United Arab Emirates, India, Indonesia, Singapore, Australia, Korea and Japan, beginning later in the fourth quarter of 2026 and extending to a full loop in mid-2027. The expansion will extend CoreWeave’s existing network across North America and Europe into four continents, providing customers with more direct connectivity to its AI cloud platform.

Purpose-built for AI workloads, CoreWeave’s backbone combines multiple 400 gigabit-per-second connections at each point of presence, hardware-based MACsec encryption to protect data in transit, and redundant network paths designed to maintain performance and reliability across regions. Together, these capabilities enable customers to move large datasets and access computing infrastructure without sacrificing the speed or security their workloads require.

The expansion follows CoreWeave’s recent announcements in Indonesia and India, reflecting continued investment in the infrastructure needed to support AI development and deployment globally. CoreWeave operated 51 data centers worldwide with more than 1.5 gigawatts of active power as of June 30, 2026 and had approximately 4.2 gigawatts of contracted power as of its August 11, 2026 earnings call.

CoreWeave consistently delivers industry-leading performance, demonstrated by record-breaking MLPerf benchmark results in inference and training and its position as the only AI cloud to earn the top Platinum ranking in SemiAnalysis ClusterMAX™ three times in a row.

About CoreWeave
CoreWeave is The Essential Cloud for AI®. Built for pioneers by pioneers, CoreWeave delivers a fully integrated platform of technology and teams that enables innovators to move at the pace of innovation, building and scaling AI with confidence. Trusted by 9 of the 10 leading foundation model providers, CoreWeave serves as a force multiplier by combining superior infrastructure performance with deep technical expertise to accelerate human discovery. Established in 2017, CoreWeave completed its public listing on Nasdaq (CRWV) in March 2025.

About atNorth
atNorth is a leading Nordic data center company that offers cost-effective, scalable high-density colocation and built-to-suit services trusted by industry-leading organizations.

With sustainability at its core, atNorth’s data centers run on renewable energy resources and support circular economy principles. All atNorth sites leverage innovative design, power efficiency, and intelligent operations to provide long-term infrastructure and flexible colocation deployments.

atNorth is headquartered in Reykjavik, Iceland and operates seven data centers in strategic locations across the Nordics, as well four mega sites under development across Kouvola Finland, Ølgod, Denmark, Sollefteå, Sweden and Haugaland, Norway. The business also has an additional metro site under construction in Stockholm, Sweden.

For more information, visit atNorth.com or follow atNorth on LinkedIn.

View source version on businesswire.com: https://www.businesswire.com/news/home/20261027105771/en/

PagSeguro Digital Ltd. (NYSE:PAGS – Get Free Report) Director Alexandre Magnani sold 22,706 shares of PagSeguro Digital stock in a transaction dated Thursday, October 22nd. The stock was sold at an average price of $11.30, for a total value of $256,577.80. Following the transaction, the director owned 84,684 shares of the company’s stock, valued at $956,929.20. The trade was a 21.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Alexandre Mr Magnani also recently made the following trade(s):

On Friday, October 23rd, Alexandre Magnani sold 27,294 shares of PagSeguro Digital stock. The stock was sold at an average price of $11.43, for a total value of $311,970.42. On Tuesday, October 20th, Alexandre Magnani sold 47,100 shares of PagSeguro Digital stock. The stock was sold at an average price of $11.22, for a total value of $528,462.00. On Monday, October 19th, Alexandre Magnani sold 16,209 shares of PagSeguro Digital stock. The shares were sold at an average price of $11.18, for a total value of $181,216.62. On Friday, October 16th, Alexandre Magnani sold 1,014 shares of PagSeguro Digital stock. The shares were sold at an average price of $11.18, for a total value of $11,336.52. On Monday, October 12th, Alexandre Magnani sold 35,677 shares of PagSeguro Digital stock. The stock was sold at an average price of $11.20, for a total value of $399,582.40. On Friday, October 9th, Alexandre Magnani sold 300,000 shares of PagSeguro Digital stock. The stock was sold at an average price of $10.95, for a total value of $3,285,000.00. On Wednesday, October 7th, Alexandre Magnani sold 100,000 shares of PagSeguro Digital stock. The stock was sold at an average price of $10.60, for a total value of $1,060,000.00. PagSeguro Digital Trading Down 25.2% PAGS opened at $8.56 on Tuesday. PagSeguro Digital Ltd. has a 1-year low of $7.50 and a 1-year high of $12.32. The stock’s fifty day simple moving average is $9.76 and its 200 day simple moving average is $9.85. The stock has a market cap of $2.39 billion, a PE ratio of 5.99, a price-to-earnings-growth ratio of 0.46 and a beta of 1.27.

PagSeguro Digital (NYSE:PAGS – Get Free Report) last released its quarterly earnings data on Tuesday, August 11th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. PagSeguro Digital had a net margin of 10.46% and a return on equity of 16.36%. The firm had revenue of $942.97 million during the quarter, compared to analysts’ expectations of $1 billion. Equities analysts forecast that PagSeguro Digital Ltd. will post 1.65 earnings per share for the current year. PagSeguro Digital Increases Dividend The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th were given a $0.28 dividend. The ex-dividend date of this dividend was Wednesday, September 16th. This is a boost from PagSeguro Digital’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a dividend yield of 13.1%. PagSeguro Digital’s payout ratio is currently 78.32%.

Analyst Upgrades and Downgrades Several brokerages recently commented on PAGS. Weiss Ratings raised shares of PagSeguro Digital from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, October 13th. UBS Group decreased their price target on shares of PagSeguro Digital from $12.50 to $11.00 and set a “buy” rating on the stock in a research note on Tuesday, September 29th. Bank of America downgraded shares of PagSeguro Digital from a “buy” rating to a “neutral” rating and set a $10.00 price objective for the company. in a research report on Wednesday, July 15th. Finally, Jefferies Financial Group started coverage on shares of PagSeguro Digital in a research report on Thursday, July 23rd. They set a “hold” rating and a $10.40 price objective for the company. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, PagSeguro Digital currently has a consensus rating of “Hold” and an average target price of $11.08.

Get Our Latest Report on PagSeguro Digital

Institutional Inflows and Outflows Large investors have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. lifted its holdings in shares of PagSeguro Digital by 38.1% in the third quarter. SBI Securities Co. Ltd. now owns 4,471 shares of the company’s stock worth $40,000 after buying an additional 1,233 shares in the last quarter. First Trust Advisors LP grew its stake in PagSeguro Digital by 10.9% during the first quarter. First Trust Advisors LP now owns 18,678 shares of the company’s stock valued at $187,000 after acquiring an additional 1,835 shares in the last quarter. Royal Bank of Canada grew its stake in PagSeguro Digital by 3.7% during the first quarter. Royal Bank of Canada now owns 56,092 shares of the company’s stock valued at $562,000 after acquiring an additional 1,998 shares in the last quarter. Amundi grew its stake in PagSeguro Digital by 6.0% during the first quarter. Amundi now owns 54,586 shares of the company’s stock valued at $547,000 after acquiring an additional 3,067 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its holdings in PagSeguro Digital by 86.7% during the 1st quarter. Meeder Asset Management Inc. now owns 10,308 shares of the company’s stock worth $103,000 after acquiring an additional 4,786 shares during the period. Institutional investors own 45.88% of the company’s stock.

(Get Free Report)

PagSeguro Digital Ltd., operating under the PagBank brand, is a Brazilian financial technology company that provides payment and banking services to small and medium-sized businesses, independent professionals, and consumers. The company is part of the Universo Online (UOL) group and serves customers primarily in Brazil.

PagSeguro offers point-of-sale payment terminals and mobile payment solutions that allow merchants to accept credit, debit, contactless, and other electronic payments.

Further Reading Five stocks we like better than PagSeguro Digital Comfort Systems Earnings: AI Slowdown or More Growth Ahead? Bristol Myers Squibb’s Cancer Breakthrough Could Have Implications Beyond Its Own Stock 5 Beaten-Down Growth Stocks Trading Like Value Plays as Cash Chases Mega-Caps Anthropic’s IPO Filing Reveals a Massive Opportunity for AI Infrastructure Giants

Receive News & Ratings for PagSeguro Digital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PagSeguro Digital and related companies with MarketBeat.com's FREE daily email newsletter.

Global sales of Apple's iPhone ‌18 Pro series in the first three weeks after launch were 3.1% higher than for the iPhone 17 Pro series over ​the same period a year ago, according to ​Counterpoint Research.

The smartphones performed well in markets such ⁠as China and India but more modestly elsewhere, ​Counterpoint said, pointing to a mixed start.

Sales in China rose ​29% from a year earlier, the strongest growth of any market, as early stock of the iPhone 18 Pro series was higher ​than for last year's 17 Pro phones and ​price increases on rival flagship Android models from Chinese Android makers boosted ‌demand.

Excluding ⁠China, global sales growth would have been far weaker, according to the research firm.

Sales in the United States and Japan fell 4% and 27% respectively from a ​year earlier with ​the new ⁠models more expensive than their predecessors.

Counterpoint said US consumers saw few meaningful improvements in ​features or design over previous models to ​justify ⁠the price. In Japan, demand shrank as exchange rates amplified the price increases.

The iPhone 18 Pro Max accounted for ⁠56% of ​sales within the iPhone 18 ​Pro series, a slight decrease from 57% last year.

Exclusive

By You're currently following this author! Click to unsubscribe from email alerts.

Panos Panay, head of Amazon's Devices and Services team CHARLY TRIBALLEAU/AFP via Getty Images Amazon launched a flurry of new consumer devices this month. Behind the scenes, rising memory costs are adding pressure to its already money-losing hardware business.

An internal planning document obtained by Business Insider shows Amazon forecasting a $612 million gross loss this year for its first-party devices business, compared with a leadership target of a $438 million loss.

The document said rising memory costs were "putting pressure" on the business's profitability, forcing "difficult trade-offs" among sales volumes, average selling prices, and gross profit.

The projected $612 million loss was at the gross profit level, meaning it did not account for all operating expenses, such as R&D, sales and marketing, and administrative costs.

The figures offer a rare glimpse into the pressure on Amazon's hardware business as it absorbs rising component costs. Other tech hardware companies, including industry leader Apple, face similar pressure from surging memory chip prices.

An Amazon spokesperson declined to comment.

A new wave of AI devicesDespite the pressure, Amazon continues to expand its consumer hardware lineup. Even if the company loses money on device sales, it can make money in other ways, such as subscription services, as more customers use its gadgets.

In October alone, the company introduced new Kindles, Alexa-powered tablets, Ring smart locks, and AI wearables under its Bee brand. The August planning document identified Bee and new smart glasses as strategic products still in an investment phase.

Amazon has historically used low-cost hardware to pull customers into a broader ecosystem of shopping and digital content. Rising component costs could make that strategy more expensive, forcing the company to raise prices.

The clearest shift is in Amazon's tablets. Earlier this month, the company phased out Fire tablets after 15 years and replaced the budget-friendly lineup with pricier Alexa Tablets powered by Alexa+. The new devices cost between $229.99 and $499.99, a notable increase from previous generations.

Not just AmazonThe planning document was prepared in August, the same month Amazon raised prices on products including Echo speakers, Kindle e-readers, and Fire TV devices.

The pressure extends beyond Amazon. Apple has raised prices on some Macs and iPads, while Microsoft and Sony have increased console prices. Dell, HP, and Lenovo also face higher memory costs.

The AI boom is helping drive the squeeze. Huge data center investments have increased demand for memory chips, while manufacturers have devoted more capacity to high-bandwidth memory used in AI servers. That has tightened supplies and raised prices for components used across consumer electronics.

Amazon is experiencing both sides of the boom. It expects roughly $220 billion in capital expenditures this year, largely to expand AWS data centers for AI demand, while higher component costs squeeze its consumer hardware business.

The rising cost of Alexa+The August planning materials show Amazon reassessing both Alexa+ revenue and operating costs. They called for updated forecasts, expansion through enterprise sales and advertising, and more detailed AWS cost modeling.

Amazon is now confronting the cost of operating Alexa+ at scale. Business Insider reported in July that internal forecasts put Alexa+'s AWS cloud costs at roughly $1.7 billion in 2026, nearly triple the prior year's figure. Amazon was working to lower those costs by relying less on Anthropic's AI models and routing more requests to its own, cheaper systems.

A separate project called Moonraker, intended to give Alexa more advanced AI-agent capabilities, was projected to require more than $100 million in GPU spending this year. Amazon internally considered delaying or scaling back the initiative as one option for easing cost pressure, Business Insider previously reported.

Have a tip? Contact this reporter via email at [email protected] or Signal, Telegram, or WhatsApp at 650-942-3061. Use a personal email address, a nonwork WiFi network, and a nonwork device; here's our guide to sharing information securely.

Read next

Business Insider tells the innovative stories you want to know

Business Insider tells the innovative stories you want to know

Business Insider tells the innovative stories you want to know

Business Insider tells the innovative stories you want to know

Eugene Kim You're currently following this author! Click to unsubscribe from email alerts.

Eugene is Business Insider’s Chief Tech Correspondent, where he leads coverage of Amazon. His reporting spans the company’s retail and logistics operations to AWS, Alexa, and its internal culture.Previously, he worked at CNBC, Fortune Magazine Korea, and Japan's Yomiuri Shimbun. He holds degrees from NYU and Columbia University’s Graduate School of Journalism.In 2022, Eugene reported on internal documents indicating that Amazon allegedly used deceptive tactics to enroll customers in Prime and made cancellation difficult. The Federal Trade Commission sued Amazon the following year, citing his reporting. The case ended in a record $2.5 billion settlement in 2025.His work has received multiple honors, including the SF Press Club’s Bay Area Journalism Award and SPJ NorCal’s Excellence in Journalism Award.Eugene lives in the Bay Area. Contact him via email at [email protected], or Signal, Telegram, or WhatsApp at 650-942-3061. Use a personal email address, a nonwork WiFi network, and a nonwork device; here's our guide to sharing information securely.

Amazon Alexa Artificial Intelligence More Exclusive

Cairn Investment Group Inc. boosted its holdings in Microsoft Corporation (NASDAQ:MSFT – Free Report) by 46.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,070 shares of the software giant’s stock after buying an additional 1,300 shares during the quarter. Cairn Investment Group Inc.’s holdings in Microsoft were worth $1,518,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Frankly Finances LLC purchased a new stake in Microsoft during the second quarter valued at about $35,000. Bard Associates Inc. acquired a new stake in shares of Microsoft during the second quarter valued at approximately $37,000. PMV Capital Advisers LLC acquired a new stake in shares of Microsoft during the second quarter valued at approximately $38,000. Fiduciary Advisors Inc. raised its holdings in shares of Microsoft by 37.4% during the second quarter. Fiduciary Advisors Inc. now owns 125 shares of the software giant’s stock valued at $47,000 after acquiring an additional 34 shares during the period. Finally, Persistent Asset Partners Ltd purchased a new stake in shares of Microsoft in the 2nd quarter valued at approximately $60,000. Institutional investors and hedge funds own 71.13% of the company’s stock.

Analyst Ratings Changes A number of equities analysts recently commented on the stock. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Microsoft in a research note on Tuesday. Morgan Stanley cut shares of Microsoft from an “overweight” rating to a “negative” rating in a research report on Monday, October 5th. Stifel Nicolaus raised shares of Microsoft from a “hold” rating to a “buy” rating and boosted their target price for the company from $530.00 to $575.00 in a research note on Tuesday, September 22nd. Argus reduced their target price on Microsoft from $620.00 to $510.00 and set a “buy” rating for the company in a report on Friday, July 10th. Finally, Needham & Company LLC initiated coverage on Microsoft in a research report on Wednesday, September 23rd. They issued a “buy” rating for the company. Forty-three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $594.11.

Get Our Latest Analysis on Microsoft Microsoft Stock Up 1.5% Microsoft stock opened at $532.60 on Tuesday. The firm has a market cap of $3.96 trillion, a PE ratio of 29.65, a P/E/G ratio of 1.68 and a beta of 1.10. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.22 and a current ratio of 1.23. The firm’s 50 day moving average price is $508.43 and its two-hundred day moving average price is $437.18. Microsoft Corporation has a twelve month low of $349.20 and a twelve month high of $553.72.

Microsoft (NASDAQ:MSFT – Get Free Report) last released its earnings results on Wednesday, July 29th. The software giant reported $4.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.24 by $0.50. The company had revenue of $90.01 billion during the quarter, compared to the consensus estimate of $87.62 billion. Microsoft had a net margin of 40.31% and a return on equity of 31.98%. The company’s revenue was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.65 EPS. On average, research analysts predict that Microsoft Corporation will post 19.66 EPS for the current fiscal year.

Microsoft Increases Dividend The business also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Thursday, November 19th will be paid a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 0.7%. This is a boost from Microsoft’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Thursday, November 19th. Microsoft’s dividend payout ratio (DPR) is currently 20.27%.

Insider Activity at Microsoft In related news, EVP Amy Hood sold 41,674 shares of Microsoft stock in a transaction on Monday, September 14th. The stock was sold at an average price of $498.27, for a total transaction of $20,764,903.98. Following the completion of the sale, the executive vice president owned 533,624 shares of the company’s stock, valued at approximately $265,888,830.48. This trade represents a 7.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Satya Nadella sold 86,525 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $501.46, for a total value of $43,388,826.50. Following the completion of the transaction, the chief executive officer owned 486,763 shares in the company, valued at $244,092,173.98. This trade represents a 15.09% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 150,314 shares of company stock valued at $75,404,992. 0.03% of the stock is owned by insiders.

Key Headlines Impacting Microsoft Here are the key news stories impacting Microsoft this week:

Positive Sentiment: Microsoft is offering voluntary buyouts to approximately 60,000 employees in the U.S., Canada, India and the U.K. The program is aimed at reducing costs and reallocating resources toward artificial intelligence, data centers and other strategic priorities. Investors appear to view the move as a way to help offset the company’s substantial AI infrastructure spending. Microsoft offers voluntary buyouts to 60,000 employees Positive Sentiment: Analysts raised their price targets ahead of earnings. Oppenheimer lifted its target to $625 from $570, while Truist raised its target to $600 from $575 and maintained a Buy rating, citing resilient Azure growth and strong enterprise demand. Oppenheimer raises Microsoft target ahead of earnings Positive Sentiment: Wall Street expects continued momentum in Azure and Copilot monetization. Microsoft reports fiscal first-quarter results on October 28, making cloud growth, AI demand and spending efficiency important near-term catalysts. Microsoft stock gains as Wall Street sees Azure growth Microsoft Company Profile (Free Report)

Microsoft Corporation (NASDAQ:MSFT) is a global technology company that develops software, cloud services, devices and digital platforms. Its products and services are used by consumers, businesses, governments and educational institutions worldwide.

The company’s principal offerings include the Windows operating system; Microsoft 365 productivity applications such as Word, Excel, Teams and Outlook; Azure cloud computing and infrastructure services; Dynamics business applications; and enterprise security solutions.

Read More Five stocks we like better than Microsoft Comfort Systems Earnings: AI Slowdown or More Growth Ahead? Bristol Myers Squibb’s Cancer Breakthrough Could Have Implications Beyond Its Own Stock 5 Beaten-Down Growth Stocks Trading Like Value Plays as Cash Chases Mega-Caps Anthropic’s IPO Filing Reveals a Massive Opportunity for AI Infrastructure Giants Want to see what other hedge funds are holding MSFT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Microsoft Corporation (NASDAQ:MSFT – Free Report).

Receive News & Ratings for Microsoft Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Microsoft and related companies with MarketBeat.com's FREE daily email newsletter.

Boeing is set to update investors on how quickly it can increase aircraft production in the coming months when it reports quarterly results before the market opens Tuesday.

Wall Street is expecting Boeing to post a smaller loss for the quarter than it did last year as it hands over more aircraft to airlines and other customers after years of safety and manufacturing crises. The company posted a net loss of $5.34 billion in the same period in 2025.

But an investor focus is how quickly the company will be able to ramp up production of its planes, including of the best-selling 737 Max.

Boeing has been producing about 47 of its 737 Max planes a month, but is aiming for more. CEO Kelly Ortberg told investors last month that production is taking "a little bit longer" than expected to stabilize, and the company expects to increase its output of the planes next year.

Aircraft production and deliveries are key to Boeing's recovery since the bulk of an aircraft's price is paid when the customer receives it.

Here's what Wall Street analysts are expecting the company to report, according to consensus estimates from LSEG:

Loss per share: 21 cents expected Revenue: $23.84 billion expectedThe manufacturer had some wins lately. The Federal Aviation Administration last week signed off on the 737 Max 10, the largest in the Max family. That followed the approval of the 737 Max 7 in August and marked the final certifications for the aircraft line.

Procter & Gamble Company (The) (NYSE:PG – Get Free Report) CEO Paul Gama sold 4,331 shares of the company’s stock in a transaction on Friday, October 23rd. The stock was sold at an average price of $161.27, for a total value of $698,460.37. Following the completion of the sale, the chief executive officer directly owned 46,793 shares in the company, valued at approximately $7,546,307.11. The trade was a 8.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Paul Gama also recently made the following trade(s):

On Monday, October 5th, Paul Gama sold 2,225 shares of Procter & Gamble stock. The stock was sold at an average price of $145.34, for a total value of $323,381.50. Procter & Gamble Stock Performance Shares of PG opened at $159.96 on Tuesday. Procter & Gamble Company has a 12 month low of $137.62 and a 12 month high of $167.25. The business’s fifty day simple moving average is $148.38 and its two-hundred day simple moving average is $148.47. The company has a current ratio of 0.72, a quick ratio of 0.53 and a debt-to-equity ratio of 0.40. The company has a market cap of $370.75 billion, a price-to-earnings ratio of 23.34, a P/E/G ratio of 4.00 and a beta of 0.39.

Procter & Gamble (NYSE:PG – Get Free Report) last posted its earnings results on Thursday, October 22nd. The company reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.11. The business had revenue of $23.28 billion during the quarter, compared to the consensus estimate of $22.80 billion. Procter & Gamble had a net margin of 18.23% and a return on equity of 31.02%. The firm’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.99 EPS. Research analysts anticipate that Procter & Gamble Company will post 6.98 earnings per share for the current fiscal year. Procter & Gamble Announces Dividend The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Friday, October 23rd will be given a dividend of $1.0885 per share. The ex-dividend date is Friday, October 23rd. This represents a $4.35 annualized dividend and a dividend yield of 2.7%. Procter & Gamble’s dividend payout ratio (DPR) is presently 65.51%.

Analyst Ratings Changes Several research firms have commented on PG. Barclays increased their price objective on shares of Procter & Gamble from $152.00 to $165.00 and gave the company an “equal weight” rating in a research report on Monday. Argus lowered Procter & Gamble from a “buy” rating to a “hold” rating in a research note on Friday, August 7th. HSBC reiterated a “hold” rating and issued a $149.00 target price (down from $182.00) on shares of Procter & Gamble in a report on Thursday, July 30th. Piper Sandler raised their target price on shares of Procter & Gamble from $145.00 to $167.00 and gave the stock a “neutral” rating in a report on Monday. Finally, Freedom Broker raised shares of Procter & Gamble from a “hold” rating to a “buy” rating and set a $176.00 price target for the company in a research note on Friday. Fifteen research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $170.57.

Get Our Latest Report on Procter & Gamble

Institutional Trading of Procter & Gamble Several large investors have recently bought and sold shares of the stock. Baxter Bros Inc. acquired a new stake in shares of Procter & Gamble in the second quarter worth approximately $12,381,000. Empowered Funds LLC acquired a new stake in Procter & Gamble during the second quarter worth $53,549,000. Bank of America Corp DE purchased a new position in Procter & Gamble during the second quarter worth about $3,850,628,000. Rokos Capital Management LLP acquired a new stake in shares of Procter & Gamble in the first quarter valued at $29,914,000. Finally, Capstone Capital Management Ltd acquired a new position in Procter & Gamble during the 3rd quarter worth $991,000. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Key Procter & Gamble News Here are the key news stories impacting Procter & Gamble this week:

Positive Sentiment: Exchange-traded funds purchased approximately $82.8 million of PG stock on October 22, indicating institutional demand and potentially providing support for the shares. ETFs Bought $82.8 Million of Procter & Gamble Positive Sentiment: Several analysts remain constructive: JPMorgan raised its price target, while TD Cowen, BNP Paribas Exane and Citigroup reportedly forecast further appreciation. Freedom Broker also upgraded PG to Buy. JPMorgan Price Target Increase TD Cowen Forecast Positive Sentiment: Investment commentary highlights PG’s strong household-product market shares and appeal as a high-yield, defensive dividend stock—factors that may attract income-oriented investors. High-Yield Dividend Stock Comparison Neutral Sentiment: Articles comparing PG with Colgate-Palmolive and discussing TIPS, Treasury bills and dividend stocks reinforce PG’s defensive and income-investment appeal, but provide limited new company-specific information. PG Versus CL Negative Sentiment: Higher oil prices could raise manufacturing, packaging, transportation and other costs. Unless offset by pricing or productivity gains, this would pressure PG’s margins and earnings outlook. Impact of Higher Oil Prices Negative Sentiment: Insiders reported notable selling: Shailesh Jejurikar sold 35,000 shares worth about $5.7 million, while other executives sold shares as well. These transactions are not necessarily bearish, but the reductions in ownership can create a modest sentiment overhang. SEC Insider Filing About Procter & Gamble (Get Free Report)

Procter & Gamble Company (NYSE: PG) is a global consumer products company that develops, manufactures and markets branded products used in households and personal care. Its portfolio includes personal health and grooming products, beauty and skin care items, baby, feminine and family care products, fabric and home care products, and oral care products.

The company’s well-known brands include Pampers, Tide, Gillette, Crest, Oral-B, Head & Shoulders, Pantene, Olay, Old Spice, Dawn, Febreze and Mr.

Recommended Stories Five stocks we like better than Procter & Gamble Comfort Systems Earnings: AI Slowdown or More Growth Ahead? Bristol Myers Squibb’s Cancer Breakthrough Could Have Implications Beyond Its Own Stock 5 Beaten-Down Growth Stocks Trading Like Value Plays as Cash Chases Mega-Caps Anthropic’s IPO Filing Reveals a Massive Opportunity for AI Infrastructure Giants

Receive News & Ratings for Procter & Gamble Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Procter & Gamble and related companies with MarketBeat.com's FREE daily email newsletter.

Procter & Gamble Company (The) (NYSE:PG – Get Free Report) CEO Shailesh Jejurikar sold 35,000 shares of the firm’s stock in a transaction on Friday, October 23rd. The shares were sold at an average price of $163.09, for a total value of $5,708,150.00. Following the transaction, the chief executive officer owned 55,391 shares of the company’s stock, valued at $9,033,718.19. The trade was a 38.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Procter & Gamble Stock Performance PG stock opened at $159.96 on Tuesday. The stock has a market capitalization of $370.75 billion, a PE ratio of 23.34, a price-to-earnings-growth ratio of 4.00 and a beta of 0.39. The company has a current ratio of 0.72, a quick ratio of 0.53 and a debt-to-equity ratio of 0.40. Procter & Gamble Company has a 12-month low of $137.62 and a 12-month high of $167.25. The stock’s 50 day simple moving average is $148.38 and its 200 day simple moving average is $148.47.

Procter & Gamble (NYSE:PG – Get Free Report) last announced its quarterly earnings results on Thursday, October 22nd. The company reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.11. The firm had revenue of $23.28 billion for the quarter, compared to the consensus estimate of $22.80 billion. Procter & Gamble had a net margin of 18.23% and a return on equity of 31.02%. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.99 EPS. As a group, research analysts forecast that Procter & Gamble Company will post 6.98 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Friday, October 23rd will be paid a dividend of $1.0885 per share. The ex-dividend date is Friday, October 23rd. This represents a $4.35 dividend on an annualized basis and a dividend yield of 2.7%. Procter & Gamble’s payout ratio is 65.51%. Analysts Set New Price Targets Several equities analysts have recently commented on the company. Evercore upgraded Procter & Gamble from an “in-line” rating to an “outperform” rating and set a $166.00 price objective on the stock in a research report on Tuesday, October 6th. Sanford C. Bernstein reissued a “market perform” rating and set a $149.00 price target on shares of Procter & Gamble in a research note on Monday, August 24th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Procter & Gamble in a research note on Friday. Piper Sandler upped their price objective on Procter & Gamble from $145.00 to $167.00 and gave the company a “neutral” rating in a research report on Monday. Finally, BMO Capital Markets increased their price target on Procter & Gamble from $169.00 to $170.00 and gave the company an “outperform” rating in a report on Monday, June 29th. Fifteen equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $170.57.

Read Our Latest Stock Analysis on Procter & Gamble

More Procter & Gamble News Here are the key news stories impacting Procter & Gamble this week:

Positive Sentiment: Exchange-traded funds purchased approximately $82.8 million of PG stock on October 22, indicating institutional demand and potentially providing support for the shares. ETFs Bought $82.8 Million of Procter & Gamble Positive Sentiment: Several analysts remain constructive: JPMorgan raised its price target, while TD Cowen, BNP Paribas Exane and Citigroup reportedly forecast further appreciation. Freedom Broker also upgraded PG to Buy. JPMorgan Price Target Increase TD Cowen Forecast Positive Sentiment: Investment commentary highlights PG’s strong household-product market shares and appeal as a high-yield, defensive dividend stock—factors that may attract income-oriented investors. High-Yield Dividend Stock Comparison Neutral Sentiment: Articles comparing PG with Colgate-Palmolive and discussing TIPS, Treasury bills and dividend stocks reinforce PG’s defensive and income-investment appeal, but provide limited new company-specific information. PG Versus CL Negative Sentiment: Higher oil prices could raise manufacturing, packaging, transportation and other costs. Unless offset by pricing or productivity gains, this would pressure PG’s margins and earnings outlook. Impact of Higher Oil Prices Negative Sentiment: Insiders reported notable selling: Shailesh Jejurikar sold 35,000 shares worth about $5.7 million, while other executives sold shares as well. These transactions are not necessarily bearish, but the reductions in ownership can create a modest sentiment overhang. SEC Insider Filing Institutional Investors Weigh In On Procter & Gamble Large investors have recently modified their holdings of the business. Baxter Bros Inc. acquired a new position in shares of Procter & Gamble in the second quarter valued at about $12,381,000. Empowered Funds LLC acquired a new stake in shares of Procter & Gamble in the second quarter worth $53,549,000. Bank of America Corp DE purchased a new position in shares of Procter & Gamble during the second quarter worth $3,850,628,000. Rokos Capital Management LLP acquired a new position in Procter & Gamble during the first quarter valued at $29,914,000. Finally, Capstone Capital Management Ltd purchased a new stake in Procter & Gamble in the third quarter valued at $991,000. Institutional investors own 65.77% of the company’s stock.

(Get Free Report)

Procter & Gamble Company (NYSE: PG) is a global consumer products company that develops, manufactures and markets branded products used in households and personal care. Its portfolio includes personal health and grooming products, beauty and skin care items, baby, feminine and family care products, fabric and home care products, and oral care products.

The company’s well-known brands include Pampers, Tide, Gillette, Crest, Oral-B, Head & Shoulders, Pantene, Olay, Old Spice, Dawn, Febreze and Mr.

Featured Stories Five stocks we like better than Procter & Gamble Comfort Systems Earnings: AI Slowdown or More Growth Ahead? Bristol Myers Squibb’s Cancer Breakthrough Could Have Implications Beyond Its Own Stock 5 Beaten-Down Growth Stocks Trading Like Value Plays as Cash Chases Mega-Caps Anthropic’s IPO Filing Reveals a Massive Opportunity for AI Infrastructure Giants

Receive News & Ratings for Procter & Gamble Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Procter & Gamble and related companies with MarketBeat.com's FREE daily email newsletter.

, /PRNewswire/ -- General Motors (NYSE: GM) today announced that it will transfer the listing of its common stock, par value $0.01 per share (the "Common Stock"), to the Nasdaq Global Select Market ("Nasdaq") from the New York Stock Exchange ("NYSE"). The Common Stock is expected to continue to be listed under the NYSE ticker symbol "GM" through market close on November 16, 2026. The company expects to begin trading as a Nasdaq-listed company on November 17, 2026. Following the transfer to Nasdaq, the Common Stock will continue to trade under the symbol "GM."

"GM's customer-focused, technology-driven strategy is creating value for our stockholders, making Nasdaq a natural home for our listing as we grow," said Paul Jacobson, GM Executive Vice President and Chief Financial Officer. "We're grateful for our long-standing partnership with the New York Stock Exchange and its remarkable legacy."

A Nasdaq listing also provides eligibility for potential inclusion in the Nasdaq-100 Index®. No action is required by existing stockholders with respect to the transfer of the company's listing.

General Motors (NYSE:GM) is driving the future of transportation, leveraging advanced technology to build safer, smarter, and lower emission cars, trucks, and SUVs. GM's Buick, Cadillac, Chevrolet, and GMC brands offer a broad portfolio of innovative gasoline-powered vehicles and the industry's widest range of EVs, as we move to an all-electric future. Learn more at GM.com.

Cautionary Note on Forward-Looking Statements: This press release and related comments by management may include "forward-looking statements" within the meaning of the U.S. federal securities laws. Forward-looking statements are any statements other than statements of historical fact and represent our current judgment about possible future events. In making these statements, we rely upon assumptions and analysis based on our experience and perception of historical trends, current conditions, and expected future developments, as well as other factors we consider appropriate under the circumstances. We believe these judgments are reasonable, but these statements are not guarantees of any future events or financial results, and our actual results may differ materially due to a variety of factors, many of which are described in our most recent Annual Report on Form 10-K and our other filings with the U.S. Securities and Exchange Commission. We caution readers not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information, future events, or other factors that affect the subject of these statements, except where we are expressly required to do so by law.

SOURCE General Motors

, /PRNewswire/ -- Royal Caribbean Group (NYSE: RCL) today reported third quarter Earnings per Share ("EPS") of $6.45 and Adjusted EPS of $6.57. These results were better than the company's guidance, driven by strong close-in demand and lower costs due to timing. The company now expects full year Adjusted EPS to be in the range of $17.85 to $17.95. The increase in earnings expectations reflects the stronger-than-expected third quarter performance partially offset by higher than anticipated fuel costs (based on current at-the-pump rates) and currency exchange rates.

"Our third quarter results reflect continued strong consumer demand for our vacation experiences and the accelerated momentum across our industry leading brands," said Jason Liberty, Chairman and CEO, Royal Caribbean Group. "Our strategy to turn the vacation of a lifetime into a lifetime of vacations is propelling our business by leveraging our leading brands, differentiated experiences, loyalty platform and technology capabilities to deepen guest relationships, increase vacation frequency and capture a greater share of the growing global vacation market. Taking further advantage of our leading vacation platform, the recently announced partnership with Sandals and Beaches Resorts is intended to drive significant shareholder value as we expand our vacation ecosystem, giving guests more ways to vacation with us across more occasions."

"Demand for our leading vacation experiences remains strong, and while it is still early, 2027 bookings are pacing ahead of historical levels at higher rates," Liberty continued. "2027 also marks the final year of our Perfecta target period. The underlying business is performing well ahead of our initial expectations, and based on the forward fuel curve, we remain on track to achieve our Perfecta goals of delivering 20% Adjusted EPS CAGR from 2024 through 2027, or a $20-handle in 2027. We are currently already above our ROIC target."

Third Quarter 2026:

Total revenue was $5.6 billion, a 9% increase year over year. Load factor in the third quarter was 112%.Gross Margin Yields decreased 0.8% as-reported. Net Yields increased 0.9% as-reported and 0.6% in Constant Currency, driven by better-than-expected close-in demand in Europe and the Caribbean.Gross Cruise Costs per Available Passenger Cruise Days ("APCD") decreased 0.7% as-reported. Net Cruise Costs ("NCC"), excluding Fuel, per APCD decreased 1.9% as-reported and 1.8% in Constant Currency, due to the timing of expenses that shifted into the fourth quarter.Net Income was $1.7 billion or $6.45 per share, Adjusted Net Income was $1.8 billion or $6.57 per share, and Adjusted EBITDA was $2.5 billion.Full Year 2026 Outlook:

Revenue is expected to grow 9% year over year. Net Yields are expected to increase approximately 2.7% as-reported and approximately 2.1% in Constant Currency.NCC, excluding Fuel, per APCD are expected to increase approximately 0.4% as-reported and be approximately flat in Constant Currency.Adjusted EPS is expected to be in the range of $17.85 to $17.95.Sandals and Beaches Resorts Partnership
In September, Royal Caribbean Group announced an agreement to acquire a 50% interest in Sandals and Beaches Resorts, expanding the company's vacation platform into the all-inclusive resort category. The Sandals and Beaches Resorts' portfolio includes 18 resorts across the Caribbean and three resorts under development. It also includes over 1,000 acres of undeveloped land in the Caribbean, including acreage adjacent to existing resorts, creating a meaningful runway for continued growth.

Sandals and Beaches are leading brands in the all-inclusive resort category, with high brand awareness, strong guest satisfaction and a loyal customer base. The portfolio has benefited from significant investment in recent years, including physical upgrades across the resorts and continued enhancements to the guest experience.  The partnership will preserve the identity, operating leadership, and Caribbean character of the brands, while providing additional resources and capabilities to support continued value creation. Approximately 30% of Royal Caribbean Group guests also take all-inclusive vacations, while a similar percentage of Sandals and Beaches guests also cruise, creating a significant opportunity to introduce each portfolio to new guests and capture a greater share of the vacations they already take.

"Our mission is to deliver the best vacation experiences responsibly. Sandals and Beaches Resorts extend our platform into an attractive adjacent category, unlocking more ways to deliver on that mission," said Jason Liberty, Chairman and CEO, Royal Caribbean Group. "Underpinned by the strength and significant growth opportunities of our core business, this investment accelerates our strategy to capture a greater share of the rapidly growing vacation market. By bringing together Sandals and Beaches' hospitality and Caribbean expertise with our global commercial reach, loyalty and technology capabilities, we see meaningful opportunities to reach new guests, increase vacation frequency, and leverage our combined scale to create additional synergies and value over time."

The investment is expected to close in early 2027, subject to customary closing conditions and regulatory approvals. The company's share of earnings from Sandals and Beaches Resorts is expected to be immediately accretive, with contribution in 2027 dependent on the timing of the transaction close. The investment is expected to be accounted for under the equity method, with results reported on a one-quarter lag. The expected contribution from Sandals and Beaches Resorts will be incorporated into the company's 2027 guidance, along with related detail, upon closing.

Third Quarter 2026 Results
Net Income for the third quarter of 2026 was $1.7 billion or $6.45 per share compared to Net Income of $1.6 billion or $5.74 per share for the same period in the prior year. Adjusted Net Income was $1.8 billion or $6.57 per share for the third quarter of 2026 compared to Adjusted Net Income of $1.6 billion or $5.75 per share for the same period in the prior year. The company also reported total revenues of $5.6 billion and Adjusted EBITDA of $2.5 billion.

Capacity for the third quarter was up 8% year over year and the company delivered memorable vacations to 2.7 million guests, a 9% increase year over year. Total revenue increased 9% year over year. Gross Margin Yields decreased 0.8% as-reported, and Net Yields increased 0.9% as-reported (0.6% in Constant Currency), when compared to the third quarter of 2025. Load factor for the quarter was 112%. Net Yield growth exceeded the company's guidance primarily driven by better than expected close-in demand in Europe and the Caribbean.

Gross Cruise Costs per APCD decreased 0.7% as-reported, compared to the third quarter of 2025. NCC, excluding Fuel, per APCD decreased 1.9% as-reported (and decreased 1.8% in Constant Currency), when compared to the third quarter of 2025. The better-than-expected cost performance in the third quarter was due to the timing of expenses that shifted into the fourth quarter.

Demand, Bookings and Vacation Platform
Since the last earnings call, booking volumes have increased in the mid-teens across all major channels, with bookings for 2027 sailings up in the high teens, demonstrating strong demand as booking activity builds for 2027.

The company continues to see strong engagement across the vacation journey. Third quarter pre-cruise and onboard revenue rates were ahead of prior year, and fourth quarter pre-cruise revenue rates are also booked ahead of last year. The company's expanding range of products and services, together with its technology capabilities, is enabling more relevant and personalized engagement by connecting guests with the right experiences at the right time.

Fourth Quarter 2026
In line with the company's prior expectation, Net Yields are expected to be 4.4% to 4.9% as-reported and 4.2% to 4.7% in Constant Currency as compared to 2025. Net Yield growth is driven by strong demand, a more favorable year-over-year comparison, deployment mix, and the timing of dry docks. Total revenue is expected to grow 9%.

NCC, excluding Fuel, per APCD is expected to decrease 1.5% to 1.0% as-reported and 1.4% to 0.9% in Constant Currency as compared to 2025.

Based on current fuel pricing, interest rates, currency exchange rates and the factors detailed above, the company expects fourth quarter Adjusted EPS to be in the range of $3.48 to $3.58.

Fuel Expense
Bunker pricing, net of hedging, for the third quarter was $778 per metric ton and consumption was 446,000 metric tons.

The company does not forecast fuel prices and its fuel cost calculations are based on current at-the-pump prices, net of hedging impacts. Based on current fuel prices, the company has included $379 million of fuel expense in its fourth quarter guidance, which is 58% hedged via swaps at a forecasted consumption of 463,000 metric tons.

Forecasted consumption is 58%, 53%, 29%, and 14% hedged via swaps for 2026, 2027, 2028, and 2029 respectively. The annual average cost per metric ton of the hedge portfolio is approximately $471, $405, $424, and $451 for 2026, 2027, 2028, and 2029 respectively.

The company provided the following guidance for the fourth quarter and full year 2026: 

FUEL STATISTICS

Fourth Quarter 2026

Full Year 2026

Fuel Consumption (metric tons)

463,000

1,763,000

Fuel Expenses

$379 million

$1,345 million

Fourth Quarter 2026

Remainder of Year 2026

Percent Hedged (fwd. consumption)

58.0 %

58.0 %

GUIDANCE

As-Reported

Constant Currency

Fourth Quarter 2026

Net Yields vs. 2025

4.4% to 4.9%

4.2% to 4.7%

Net Cruise Costs per APCD vs. 2025

1.9% to 2.4%

2.0% to 2.5%

Net Cruise Costs per APCD ex. Fuel vs. 2025

(1.5%) to (1.0%)

(1.4%) to (0.9%)

Full Year 2026

Net Yields vs. 2025

Approximately 2.7%

Approximately 2.1%

Net Cruise Costs per APCD vs. 2025

Approximately 1.8%

Approximately 1.5%

Net Cruise Costs per APCD ex. Fuel vs. 2025

Approximately 0.4%

Approximately Flat

GUIDANCE

Fourth Quarter 2026

Full Year 2026

APCDs

14.7 million

56.8 million

Capacity change vs. 2025

5.0 %

6.6 %

Depreciation and amortization

$460 to $470 million

$1,870 to $1,890 million

Net Interest, excluding loss on extinguishment of debt

$255 to $265 million

$995 to $1,005 million

Adjusted EPS

$3.48 to $3.58

$17.85 to $17.95

SENSITIVITY

Fourth Quarter 2026

Full Year 2026

1% Change in Net Yields

$37 million

$155 million

1% Change in NCC excluding Fuel

$19 million

$73 million

Fourth Quarter 2026

Remainder of Year 2026

1% Change in Currency

$6 million

$6 million

10% Change in Fuel prices

$15 million

$15 million

100 basis pt. Change in SOFR

$0.3 million

$0.3 million

Exchange rates used in guidance calculations

GBP

$1.32

AUD

$0.70

CAD

$0.70

EUR

$1.12

Liquidity
As of September 30, 2026, the company's liquidity position was $7.4 billion, which includes cash and cash equivalents and undrawn revolving credit facility capacity. During the quarter, the company issued $1.25 billion of 5.550% senior unsecured notes due 2034. The proceeds were used to repay a portion of the company's floating-rate term loan facilities and debt maturing in 2027.

In October, the company entered into a $400 million delayed-draw term loan with Export Development Canada (EDC), Canada's export credit agency, representing a new source of capital. The facility includes terms and covenants that are generally consistent with the company's existing revolving credit facility. In addition, the company increased its revolving credit facility by $50 million, for a total capacity of $6.65 billion.

The company noted that as of September 30, 2026, the scheduled debt maturities for 2026, 2027, 2028, 2029 and 2030 were $0.6 billion, $2.4 billion, $3.2 billion, $1.1 billion, and $1.1 billion respectively.

Capital Expenditures and Capacity Guidance
Capital expenditures for the full year 2026 are expected to be approximately $4.6 billion, based on current foreign exchange rates, and are predominantly related to the company's new ship order book and land-based destination initiatives. Non-new ship related capital expenditures are expected to be $1.5 billion.

Capacity changes for 2026 are expected to be 6.6% compared to 2025. Capacity changes for 2027, 2028, and 2029 are expected to be approximately 4.5%, 6.0%, and 6.5%, respectively. These figures do not include potential ship sales or additions that the company may elect in the future.

Conference call scheduled
The company has scheduled a conference call at 10 a.m. Eastern Time today. This call can be heard, either live or on a delayed basis, on the company's investor relations website at www.rclinvestor.com. 

Definitions
Selected Operational and Financial Metrics

Adjusted Earnings per Share ("Adjusted EPS") is a non-GAAP measure that represents Adjusted Net Income attributable to Royal Caribbean Cruises Ltd. (as defined below) divided by basic weighted average shares outstanding or by diluted weighted average shares outstanding, as applicable. We believe that this non-GAAP measure is meaningful when assessing our performance on a comparative basis.

Adjusted EBITDA is a non-GAAP measure that represents EBITDA (as defined below) excluding certain items that we believe adjusting for is meaningful when assessing our profitability on a comparative basis. For the periods presented, these items included (i) other (income) expense; (ii) restructuring charges and other initiative expenses; and (iii) equity investment impairment, (recovery) of losses and other.

Adjusted EBITDA Margin is a non-GAAP measure that represents Adjusted EBITDA (as defined above) divided by total revenues.

Adjusted Gross Margin represents Gross Margin, adjusted for payroll and related, food, fuel, other operating, and depreciation and amortization expenses. Gross Margin is calculated pursuant to GAAP as total revenues less total cruise operating expenses, and depreciation and amortization expenses.

Adjusted Net Income attributable to Royal Caribbean Cruises Ltd. is a non-GAAP measure that represents Net Income attributable to Royal Caribbean Cruises Ltd., excluding certain items that we believe adjusting for is meaningful when assessing our performance on a comparative basis. For the periods presented, these items included (i) loss on extinguishment of debt and inducement expense; (ii) restructuring charges and other initiative expenses; (iii) the amortization of the Silversea intangible assets resulting from the Silversea acquisition; (iv) gain on sale of noncontrolling interest; and (v) equity investment impairment, (recovery) of losses, and other.

Adjusted Operating Income is a non-GAAP measure that represents operating income including income from equity investments and provision for income taxes but excluding certain items for which we believe adjusting for is meaningful when assessing our operating performance on a comparative basis. We use this non-GAAP measure to calculate ROIC (as defined below).

Available Passenger Cruise Days ("APCD") is our measurement of capacity and represents double occupancy per cabin multiplied by the number of cruise days for the period, which excludes canceled cruise days and cabins not available for sale. We use this measure to perform capacity and rate analysis to identify our main non-capacity drivers that cause our cruise revenue and expenses to vary.

Constant Currency is a significant measure for our revenues and expenses, which are denominated in currencies other than the U.S. Dollar. Because our reporting currency is the U.S. Dollar, the value of these revenues and expenses in U.S. Dollar will be affected by changes in currency exchange rates. Although such changes in local currency prices are just one of many elements impacting our revenues and expenses, it can be an important element. For this reason, we also monitor our revenues and expenses in "Constant Currency" - i.e., as if the current period's currency exchange rates had remained constant with the comparable prior period's rates. We calculate "Constant Currency" by applying the average of the prior period exchange rates for each of the corresponding months, of the reported and/or forecasted period, so as to calculate what the results would have been had exchange rates been the same throughout both periods. We do not make predictions about future exchange rates and use current exchange rates for calculations of future periods. It should be emphasized that the use of Constant Currency is primarily used by us for comparing short-term changes and/or projections. Over the longer term, changes in guest sourcing and shifting the amount of purchases between currencies can significantly change the impact of the purely currency-based fluctuations.

EBITDA is a non-GAAP measure that represents Net Income attributable to Royal Caribbean Cruises Ltd. excluding (i) interest income; (ii) interest expense, net of interest capitalized; (iii) depreciation and amortization expenses; and (iv) provision for income taxes. We believe that this non-GAAP measure is meaningful when assessing our operating performance on a comparative basis.

Gross Cruise Costs represent the sum of total cruise operating expenses plus marketing, selling and administrative expenses.

Gross Margin Yield represent Gross Margin per APCD.

Invested Capital represents the most recent five-quarter average of total debt (i.e., Current portion of long-term debt plus Long-term debt) plus the most recent five-quarter average of Total shareholders' equity. We use this measure to calculate ROIC (as defined below).

Net Cruise Costs and Net Cruise Costs excluding Fuel are non-GAAP measures that represent Gross Cruise Costs excluding commissions, transportation and other expenses, and onboard and other expenses and, in the case of Net Cruise Costs excluding Fuel, fuel expenses. In measuring our ability to control costs in a manner that positively impacts net income, we believe changes in Net Cruise Costs and Net Cruise Costs excluding Fuel to be the most relevant indicators of our cost performance. For the periods presented, Net Cruise Costs and Net Cruise Costs excluding Fuel exclude restructuring charges and other initiative expenses.

Net Yields represent Adjusted Gross Margin per APCD. We utilize Adjusted Gross Margin and Net Yields to manage our business on a day-to-day basis as we believe that they are the most relevant measures of our pricing performance because they reflect the cruise revenues earned by us net of our most significant variable costs, which are commissions, transportation and other expenses, and onboard and other expenses.

Occupancy ("Load factor"), in accordance with cruise vacation industry practice, is calculated by dividing Passenger Cruise Days (as defined below) by APCD. A percentage in excess of 100% indicates that three or more passengers occupied some cabins.

Passenger Cruise Days ("PCD") represent the number of passengers carried for the period multiplied by the number of days of their respective cruises.

Perfecta Program refers to the multi-year Adjusted EPS and ROIC goals we are seeking to achieve by end of 2027. Under our Perfecta Program, we are targeting 20% compound annual growth rate in Adjusted EPS compared to 2024 and ROIC of 17% or higher by the end of 2027.

Return on Invested Capital ("ROIC") represents Adjusted Operating Income divided by Invested Capital. We believe ROIC is a meaningful measure because it quantifies how efficiently we generated operating income relative to the capital we have invested in the business.

For additional information see "Adjusted Measures of Financial Performance" below.

About Royal Caribbean Group
Royal Caribbean Group is a leading global vacation company spanning cruise, exclusive destinations, and land-based vacation experiences. The company operates 71 ships sailing to more than 1,000 destinations across all seven continents through its three wholly owned brands - Royal Caribbean, Celebrity Cruises, and Silversea - and a 50% joint venture interest in TUI Cruises which operates the Mein Schiff and Hapag-Lloyd brands.

The Group is expanding its portfolio of private destinations through its Perfect Day and Royal Beach Club collections, and the company will enter river cruising in 2027 with Celebrity River Cruises. Powered by innovative brands, advanced technology, and an industry-leading loyalty program, the company has built a connected vacation ecosystem, turning the vacation of a lifetime into a lifetime of vacations.

Named to the Fortune World's Most Admired Companies 2026 list and to Forbes' 2026 Best American Companies lists, Royal Caribbean Group is guided by its mission to deliver the best vacations responsibly. For more information, visit www.royalcaribbeangroup.com.

Cautionary Statement Concerning Forward-Looking Statements
Certain statements in this press release relating to, among other things, our future performance estimates, forecasts and projections constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to: statements regarding the benefits and expected impact of the proposed joint venture with Sandals and Beaches Resorts, including the timing of the closing of the transaction, earnings impact, and anticipated growth, expansion and future opportunities for the joint venture; statements regarding revenues, costs and financial results for 2026 and beyond; anticipated timing for launch of private destinations; our progress toward achievement of our Perfecta program; demand for our brands; expectations on river cruise offerings; future capital expenditures; and expectations regarding our credit profile and fuel expenses. Words such as "anticipate," "believe," "committed," "could," "driving," "estimate," "expect," "goal," "intend," "may," "plan," "encouraged," "project," "shaping up," "position," "allows," "seek," "should," "will," "would," "considering," and similar expressions are intended to help identify forward-looking statements. Forward-looking statements reflect management's current expectations, are based on judgments, are inherently uncertain and are subject to risks, uncertainties and other factors, which could cause our actual results, performance or achievements to differ materially from the future results, performance or achievements expressed or implied in those forward-looking statements. Examples of these risks, uncertainties and other factors include, but are not limited to, the following: the impact of the economic and geopolitical environment, including changing tariffs and the related uncertainty thereof, on key aspects of our business, such as the demand for cruises, passenger spending, and operating costs; changes in operating costs; the unavailability or cost of air service; disease outbreaks and increased concern about the risk of illness on our ships or when travelling to or from our ships, which could cause a decrease in demand, guest cancellations, and ship redeployments; incidents or adverse publicity concerning our ships, port facilities, land destinations and/or passengers or the cruise vacation industry in general; the effects of weather, climate events and/or natural disasters on our business; risks related to our sustainability activities; the impact of issues at shipyards, including ship delivery delays, ship cancellations or ship construction cost increases; shipyard unavailability; unavailability of ports of call; vacation industry competition and increase in industry capacity and overcapacity; inability to manage our cost and capital allocation strategies; the uncertainties of conducting business globally and expanding into new markets and new ventures, including potential acquisitions; issues with travel advisers that sell and market our cruises; reliance on third-party service providers; potential unavailability of insurance coverage; the risks and costs related to cyber security attacks, data breaches, protecting our systems and maintaining data integrity and security; uncertainties of a foreign legal system as we are not incorporated in the United States; our ability to obtain sufficient financing or capital to fund our capital expenditures, operations, debt repayments and other financing needs; our expectation and ability to pay a cash dividend on our common stock in the future; changes to our dividend policy; growing anti-tourism sentiments and environmental concerns; changes in U.S. or other countries' foreign travel policy; impact of new or changing legislation and regulations (including environmental regulations) or governmental orders on our business; fluctuations in foreign currency exchange rates, fuel prices and interest rates; further impairments of our goodwill, long-lived assets, equity investments and notes receivable; an inability to source our crew or our provisions and supplies from certain places; our ability to recruit, develop and retain high quality personnel; and pending or threatened litigation, investigations and enforcement actions.

More information about factors that could affect our operating results is included under the caption "Risk Factors" in our most recent annual report on Form 10-K, as well as our other filings with the SEC, copies of which may be obtained by visiting our Investor Relations website at www.rclinvestor.com or the SEC's website at www.sec.gov. Undue reliance should not be placed on the forward-looking statements in this release, which are based on information available to us on the date hereof. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Adjusted Measures of Financial Performance
This press release includes certain adjusted financial measures defined as non-GAAP financial measures under Securities and Exchange Commission rules, which we believe provide useful information to investors as a supplement to our consolidated financial statements, which are prepared and presented in accordance with generally accepted accounting principles, or U.S. GAAP.

The presentation of adjusted financial information is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with U.S. GAAP. These measures may be different from adjusted measures used by other companies. In addition, these adjusted measures are not based on any comprehensive set of accounting rules or principles. Adjusted measures have limitations in that they do not reflect all of the amounts associated with our results of operations as do the corresponding U.S. GAAP measures.

A reconciliation to the most comparable U.S. GAAP measure of all adjusted financial measures included in this press release can be found in the tables included at the end of this press release. We have not provided a quantitative reconciliation of the projected non-GAAP financial measures to the most comparable GAAP financial measures because preparation of meaningful U.S. GAAP projections would require unreasonable effort. Due to significant uncertainty, we are unable to predict, without unreasonable effort, the future movement of foreign exchange rates, fuel prices and interest rates inclusive of our related hedging programs. In addition, we are unable to determine the future impact of non-core business related gains and losses which may result from strategic initiatives. These items are uncertain and could be material to our results of operations in accordance with U.S. GAAP. Due to this uncertainty, we do not believe that reconciling information for such projected figures would be meaningful.

ROYAL CARIBBEAN CRUISES LTD.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

(unaudited, in millions, except per share data)

Quarter Ended

Nine Months Ended

September 30,

September 30,

2026

2025

2026

2025

Passenger ticket revenues

$         3,885

$       3,637

$     10,250

$      9,579

Onboard and other revenues

1,706

1,502

4,625

4,097

Total revenues

5,591

5,139

14,876

13,676

Cruise operating expenses:

Commissions, transportation and other

735

696

1,921

1,823

Onboard and other

338

312

838

775

Payroll and related

399

342

1,204

1,010

Food

287

264

813

750

Fuel

347

297

966

854

Other operating

606

569

1,763

1,630

Total cruise operating expenses

2,711

2,479

7,506

6,841

Marketing, selling and administrative expenses

519

522

1,615

1,593

Depreciation and amortization expenses

490

435

1,415

1,265

Operating Income

1,871

1,702

4,340

3,977

Other income (expense):

Interest income

5

3

15

17

Interest expense, net of interest capitalized

(291)

(248)

(805)

(725)

Equity investment income

176

158

328

313

Other income (expense)

1

(2)

10

13

Income before income taxes

1,762

1,612

3,887

3,596

Provision for income taxes

(27)

(34)

(66)

(67)

Net Income

1,735

1,579

3,821

3,529

Less: Net Income attributable to noncontrolling interest

7

4

23

15

Net Income attributable to Royal Caribbean Cruises Ltd.

$         1,728

$       1,575

$      3,798

$      3,514

Earnings per Share:

Basic

$          6.46

$        5.79

$      14.15

$      12.97

Diluted

$          6.45

$        5.74

$      14.12

$      12.83

Weighted-Average Shares Outstanding:

Basic

267

272

268

271

Diluted

268

274

269

275

Comprehensive Income (Loss)

Net Income

$         1,735

$       1,579

$      3,821

$      3,529

Other comprehensive income (loss):

Foreign currency translation adjustments

(6)

(2)

(6)

(28)

Change in defined benefit plans

7

(2)

11

(2)

Gain (loss) on cash flow derivative hedges

131

(5)

215

304

Total other comprehensive income (loss)

133

(9)

220

274

Comprehensive Income

1,868

1,570

4,042

3,803

Less: Comprehensive Income attributable to noncontrolling interest

7

4

23

15

Comprehensive Income attributable to Royal Caribbean Cruises Ltd.

$         1,861

$       1,566

$      4,018

$      3,788

Certain amounts may not add or calculate due to use of rounded numbers.

ROYAL CARIBBEAN CRUISES LTD.

STATISTICS

(unaudited)

Quarter Ended

Nine Months Ended

September 30,

September 30,

2026

2025

2026

2025

Passengers Carried

2,676,480

2,466,039

7,567,360

6,961,768

Passenger Cruise Days

16,692,392

15,356,271

46,527,802

43,402,497

APCD

14,844,688

13,698,886

42,119,787

39,299,263

Occupancy

112.4 %

112.1 %

110.5 %

110.4 %

ROYAL CARIBBEAN CRUISES LTD.

CONSOLIDATED BALANCE SHEETS

(in millions, except share data)

As of

September 30,

December 31,

2026

2025

(unaudited)

Assets

Current assets

Cash and cash equivalents

$                851

$                825

Trade and other receivables, net

409

317

Inventories

304

264

Prepaid expenses and other assets

750

690

Derivative financial instruments

160

115

Total current assets

2,474

2,211

Property and equipment, net

38,297

35,696

Operating lease right-of-use assets

751

620

Goodwill

808

808

Other assets

2,483

2,284

Total assets

$             44,813

$             41,619

Liabilities and Shareholders' Equity

Current liabilities

Current portion of long-term debt

$              2,239

$              3,180

Current portion of operating lease liabilities

71

90

Accounts payable

979

953

Accrued expenses and other liabilities

1,983

2,026

Derivative financial instruments

107

67

Customer deposits

6,034

5,739

Total current liabilities

11,413

12,055

Long-term debt

20,116

18,165

Long-term operating lease liabilities

744

600

Other long-term liabilities

627

554

Total liabilities

32,900

31,374

Shareholders' equity

Preferred stock ($0.01 par value; 20,000,000 shares authorized; none outstanding)

—

—

Common stock ($0.01 par value; 500,000,000 shares authorized; 303,899,853 and 303,054,848 shares
issued, at September 30, 2026 and December 31, 2025, respectively)

3

3

Paid-in capital

7,916

7,964

Retained earnings

8,512

5,925

Accumulated other comprehensive loss

(384)

(604)

Treasury stock (36,429,278 and 32,631,826 common shares at cost, at September 30, 2026  and
December 31, 2025, respectively)

(4,334)

(3,251)

Total shareholders' equity attributable to Royal Caribbean Cruises Ltd.

11,713

10,037

Noncontrolling Interest

200

208

Total shareholders' equity

11,913

10,245

Total liabilities and shareholders' equity

$             44,813

$             41,619

ROYAL CARIBBEAN CRUISES LTD.

CONSOLIDATED STATEMENTS OF CASH FLOW

(unaudited; in millions)

Nine Months Ended September 30,

2026

2025

Operating Activities

Net Income

$            3,821

$            3,529

Adjustments:

Depreciation and amortization

1,415

1,265

Net deferred income tax (benefit) expense

(5)

15

Loss (Gain) on derivative instruments not designated as hedges

4

(45)

Share-based compensation expense

94

136

Equity investment income

(328)

(313)

Amortization of debt issuance costs, discounts and premiums

16

72

Loss on extinguishment of debt and inducement expense

105

10

Changes in operating assets and liabilities:

Increase in trade and other receivables, net

(109)

(34)

Increase in inventories

(40)

(4)

Increase in prepaid expenses and other assets

(112)

(42)

Decrease in accounts payable

(60)

(100)

(Decrease) increase in accrued expenses and other liabilities

(220)

19

Increase in customer deposits

295

108

Dividends received from unconsolidated affiliates

309

263

Other, net

89

(37)

Net cash provided by operating activities

5,274

4,842

Investing Activities

Purchases of property and equipment

(3,880)

(3,722)

Cash received on settlement of derivative financial instruments

122

144

Cash paid on settlement of derivative financial instruments

(27)

(12)

Investments in and loans to unconsolidated affiliates

(49)

(94)

Cash received on loans from unconsolidated affiliates

—

126

Other, net

2

25

Net cash used in investing activities

(3,832)

(3,533)

Financing Activities

Debt proceeds

7,227

3,162

Debt issuance costs

(124)

(100)

Repayments of debt

(6,236)

(3,075)

Repurchase of common stock

(1,035)

(655)

Dividends paid

(1,075)

(552)

Payments of withholding tax on stock awards

(191)

(63)

Other, net

19

11

Net cash used in financing activities

(1,415)

(1,272)

Effect of exchange rate changes on cash and cash equivalents

(1)

7

Net increase in cash and cash equivalents

26

44

Cash and cash equivalents at beginning of period

825

388

Cash and cash equivalents at end of period

$               851

$               432

Supplemental Disclosure

Cash paid during the period for:

Interest, net of amount capitalized

$               739

$               709

Non-cash Investing Activities

Purchase of property and equipment included in accounts payable and accrued expenses and other liabilities

$               137

$                 83

ROYAL CARIBBEAN CRUISES LTD.

NON-GAAP RECONCILING INFORMATION

(unaudited)

Gross Margin Yields, Net Yields and Adjusted Gross Margin per PCD are calculated as follows (in millions, except APCD, PCD, Yields, and Adjusted Gross
Margin per PCD. Certain amounts may not add or calculate due to the use of rounded numbers):

Quarter Ended September 30,

Nine Months Ended September 30,

2026

2026 On a
Constant
Currency Basis

2025

2026

2026 On a
Constant Currency
Basis

2025

Total revenues

$         5,591

$              5,579

$         5,139

$       14,876

$                   14,767

$       13,676

Less:

Cruise operating expenses

2,711

2,715

2,479

7,506

7,478

6,841

Depreciation and amortization expenses

490

490

435

1,415

1,419

1,265

Gross Margin

2,390

2,374

2,225

5,955

5,870

5,570

Add:

Payroll and related

399

399

342

1,204

1,204

1,010

Food

287

287

264

813

813

750

Fuel

347

347

297

966

967

854

Other operating

606

609

569

1,763

1,748

1,630

Depreciation and amortization expenses

490

490

435

1,415

1,419

1,265

Adjusted Gross Margin

$         4,519

$              4,506

$         4,131

$       12,116

$                   12,021

$       11,077

APCD

14,844,688

14,844,688

13,698,886

42,119,787

42,119,787

39,299,263

Passenger Cruise Days

16,692,392

16,692,392

15,356,271

46,527,802

46,527,802

43,402,497

Gross Margin Yields

$       161.03

$            159.95

$       162.39

$       141.38

$                   139.36

$       141.73

Net Yields

$       304.41

$            303.54

$       301.58

$       287.66

$                   285.39

$       281.87

Adjusted Gross Margin per PCD

$       270.71

$            269.94

$       269.03

$       260.40

$                   258.35

$       255.22

ROYAL CARIBBEAN CRUISES LTD.

NON-GAAP RECONCILING INFORMATION

(unaudited)

Gross Cruise Costs, Net Cruise Costs and Net Cruise Costs excluding Fuel are calculated as follows (in millions, except APCD and costs per APCD. Certain
amounts may not add or calculate due to the use of rounded numbers):

Quarter Ended September 30,

Nine Months Ended September 30,

2026

2026 On a
Constant
Currency Basis

2025

2026

2026 On a
Constant
Currency Basis

2025

Total cruise operating expenses

$         2,711

$              2,715

$         2,479

$         7,506

$              7,478

$         6,841

Marketing, selling and administrative expenses

519

519

522

1,615

1,604

1,593

Gross Cruise Costs

3,231

3,234

3,001

9,121

9,083

8,434

Less:

Commissions, transportation and other

735

735

696

1,921

1,909

1,823

Onboard and other

338

338

312

838

837

775

Net Cruise Costs including other costs

2,158

2,161

1,993

6,361

6,336

5,836

Less:

Restructuring charges and other initiative expenses (1)

9

9

1

11

11

7

Net Cruise Costs

2,149

2,152

1,992

6,350

6,325

5,829

Less:

Fuel

347

347

297

966

967

854

Net Cruise Costs excluding Fuel

$         1,802

$              1,805

$         1,695

$         5,383

$              5,358

$         4,976

APCD

14,844,688

14,844,688

13,698,886

42,119,787

42,119,787

39,299,263

Gross Cruise Costs per APCD

$       217.64

$            217.85

$       219.09

$        216.54

$            215.64

$        214.61

Net Cruise Costs per APCD

$       144.79

$            144.96

$       145.44

$        150.76

$            150.16

$        148.33

Net Cruise Costs excluding Fuel per APCD

$       121.38

$            121.56

$       123.75

$        127.81

$            127.21

$        126.61

(1)

These amounts are included in Marketing, selling and administrative expenses within our consolidated statements of comprehensive income (loss).

ROYAL CARIBBEAN CRUISES LTD.

NON-GAAP RECONCILING INFORMATION

(unaudited)

EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin are calculated as follows (in millions, except APCD and per APCD data. Certain amounts may not
add or calculate due to the use of rounded numbers):

Quarter Ended September 30,

Nine Months Ended September 30,

2026

2025

2026

2025

Net Income attributable to Royal Caribbean Cruises Ltd.

$          1,728

$           1,575

$            3,798

$          3,514

Interest income

(5)

(3)

(15)

(17)

Interest expense, net of interest capitalized

291

248

805

725

Depreciation and amortization expenses

490

435

1,415

1,265

Provision for income taxes

27

34

66

67

EBITDA

2,531

2,289

6,069

5,553

Other (income) expense

(1)

2

(10)

(13)

Restructuring charges and other initiative expenses (1)

9

1

11

7

Equity investment impairment, (recovery) of losses and other

—

—

—

(1)

Adjusted EBITDA

$          2,539

$           2,293

$            6,071

$          5,545

Total revenues

$          5,591

$           5,139

$          14,876

$        13,676

APCD

14,844,688

13,698,886

42,119,787

39,299,263

Net Income attributable to Royal Caribbean Cruises Ltd. per APCD

$        116.44

$         114.94

$            90.18

$          89.42

Adjusted EBITDA per APCD

$        171.01

$         167.35

$          144.13

$        141.09

Adjusted EBITDA Margin

45.4 %

44.6 %

40.8 %

40.5 %

(1)

These amounts are included in Marketing, selling and administrative expenses within our consolidated statements of comprehensive income (loss).

ROYAL CARIBBEAN CRUISES LTD.

NON-GAAP RECONCILING INFORMATION

(unaudited)

Adjusted Net Income attributable to Royal Caribbean Cruises Ltd., and Adjusted Earnings per Share are calculated as follows (in millions, except per share data. Certain amounts may not add
or calculate due to the use of rounded numbers):

Quarter Ended September 30,

Nine Months Ended September 30,

2026

2025

2026

2025

Net Income attributable to Royal Caribbean Cruises Ltd.

$               1,728

$               1,575

$                  3,798

$               3,514

Loss on extinguishment of debt and inducement expense (1)

21

—

50

10

Restructuring charges and other initiative expenses (2)

9

1

11

7

Amortization of Silversea intangible assets resulting from the Silversea acquisition

2

2

5

5

Gain on sale of noncontrolling interest (3)

—

—

—

(11)

Equity investment impairment, (recovery) of losses and other

—

—

—

(1)

Adjusted Net Income attributable to Royal Caribbean Cruises Ltd.

$               1,760

$               1,577

$                  3,865

$               3,523

Earnings per Share - Diluted (4)

$                 6.45

$                 5.74

$                  14.12

$               12.83

Adjusted Earnings per Share - Diluted (5)

$                 6.57

$                 5.75

$                  14.36

$               12.83

Weighted-Average Shares Outstanding - Diluted

268

274

269

275

(1)

For 2026, includes the loss on extinguishment of debt associated with the February and August redemptions of debt. For 2025, includes $10 million of inducement expense related to the settlements of the 2025 6.00% convertible notes. These amounts are included in Interest expense, net of interest capitalized within our consolidated statements of comprehensive income (loss).

(2)

These amounts are included in Marketing, selling and administrative expenses within our consolidated statements of comprehensive income (loss).

(3)

For 2025, represents gain on sale of noncontrolling interest of Floating Docks and Grand Bahama Shipyard. These amounts are included in Other income (expense) within our consolidated statements of comprehensive income (loss).

(4)

For 2025, diluted EPS includes the add-back of dilutive inducement and interest expense related to our convertible notes of $16 million for the nine months ended September 30, 2025.

(5)

For 2025, Adjusted Diluted EPS includes the add-back of dilutive interest expense related to our convertible notes of $6 million for the nine months ended September 30, 2025.

SOURCE Royal Caribbean Group

Hilton Worldwide Holdings (HLT.N) missed third-quarter revenue estimate on Tuesday and said US ​midterm elections and increased impact from the Middle ‌East could affect its fourth-quarter performance, sending its shares down 5% in premarket trading.

While steady leisure and business travel demand ​supported hotel spending across price segments — from budget ​accommodations to luxury stays — in the reported quarter, ⁠the latest US-Iran attacks have injected fresh uncertainty into ​the travel sector, clouding the outlook.

The McLean, Virginia-based hotel ​operator's room revenue from Middle East & Africa region were down 5.6% over the year earlier in the quarter ended September 30, ​while that for the US rose 7%.

Hilton's revenue ​per available room — a key lodging metric that tracks average daily ‌rate ⁠and occupancy — at its luxury properties Waldorf Astoria and LXR rose 13.9% and 14.3%, respectively, during the quarter.

The company expects RevPAR to grow between 4% and 4.5% ​for fiscal ​2026, compared ⁠with its previous forecast of a 3% to 3.5% increase.

Hilton's quarterly adjusted profit rose ​to $2.45 per share from $2.11 a year earlier. ​Analysts, ⁠on average, estimated $2.36, according to data compiled by LSEG.

Total revenue stood at $3.33 billion, up 6.6% from a year ⁠earlier, but ​below the estimate of $3.37 billion.

United Parcel Service, Inc. (NYSE:UPS) will release earnings for its third quarter before the opening bell on Tuesday, Oct. 27.

Analysts expect the Atlanta, Georgia-based company to report quarterly earnings of $1.62 per share, down from $1.74 per share in the year-ago period. The consensus estimate for United Parcel Service’s quarterly revenue is $22.28 billion. It reported $21.41 billion last year, according to Benzinga Pro.

On Aug. 24, United Parcel Service disclosed that it is investing more than $2 billion across Europe, Asia-Pacific, and the Americas.

Shares of United Parcel Service fell 0.7% to close at $100.32 on Monday.

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

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

Bernstein analyst David Vernon maintained an Outperform rating and cut the price target from $131 to $127 on Oct. 21, 2026. This analyst has an accuracy rate of 57%. Evercore ISI Group analyst Jonathan Chappell maintained an In-Line rating and slashed the price target from $118 to $107 on Oct. 20, 2026. This analyst has an accuracy rate of 71%. Citigroup analyst Ariel Rosa maintained a Buy rating and cut the price target from $132 to $122 on Oct. 7, 2026. This analyst has an accuracy rate of 78%. Truist Securities analyst Lucas Servera maintained a Buy rating and lowered the price target from $130 to $115 on Oct. 7, 2026. This analyst has an accuracy rate of 74%. Stifel analyst J. Bruce Chan maintained a Buy rating and boosted the price target from $114 to $115 on July 29, 2026. This analyst has an accuracy rate of 61%. Photo via Shutterstock

Market News and Data brought to you by Benzinga APIs

© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Globe Life Inc. (NYSE:GL – Get Free Report) EVP Michael Majors sold 14,377 shares of the firm’s stock in a transaction that occurred on Friday, October 23rd. The stock was sold at an average price of $154.48, for a total transaction of $2,220,958.96. Following the sale, the executive vice president owned 39,141 shares in the company, valued at approximately $6,046,501.68. The trade was a 26.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Michael Clay Majors also recently made the following trade(s):

On Wednesday, July 29th, Michael Majors sold 37,000 shares of Globe Life stock. The shares were sold at an average price of $178.64, for a total transaction of $6,609,680.00. Globe Life Price Performance Shares of Globe Life stock opened at $156.87 on Tuesday. Globe Life Inc. has a 12 month low of $127.85 and a 12 month high of $191.55. The firm has a market cap of $12.06 billion, a PE ratio of 10.49 and a beta of 0.44. The stock has a 50 day moving average of $169.61 and a 200 day moving average of $159.28. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.43.

Globe Life (NYSE:GL – Get Free Report) last issued its quarterly earnings data on Wednesday, October 21st. The company reported $4.84 earnings per share for the quarter, missing the consensus estimate of $4.90 by ($0.06). The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.56 billion. Globe Life had a return on equity of 19.95% and a net margin of 18.89%. The company’s revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.81 earnings per share. On average, research analysts expect that Globe Life Inc. will post 15.61 EPS for the current fiscal year. Globe Life declared that its board has initiated a share repurchase program on Monday, August 10th that permits the company to buy back $2.50 billion in outstanding shares. This buyback authorization permits the company to purchase up to 17.7% of its stock through open market purchases. Share buyback programs are often a sign that the company’s board believes its shares are undervalued.

Globe Life Announces Dividend The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Monday, October 5th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Monday, October 5th. Globe Life’s dividend payout ratio is currently 8.83%.

Wall Street Analyst Weigh In A number of equities research analysts recently commented on GL shares. UBS Group set a $165.00 target price on shares of Globe Life in a research report on Friday. Jefferies Financial Group upped their price target on shares of Globe Life from $147.00 to $166.00 and gave the company a “hold” rating in a research note on Friday, July 10th. TD Cowen reduced their price objective on Globe Life from $225.00 to $215.00 and set a “buy” rating for the company in a research note on Friday. Piper Sandler downgraded shares of Globe Life from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $200.00 to $165.00 in a report on Friday. Finally, Weiss Ratings upgraded Globe Life from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, October 21st. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $181.50.

Check Out Our Latest Stock Report on Globe Life

Institutional Trading of Globe Life Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in Globe Life during the 2nd quarter worth approximately $987,901,000. State Street Corp lifted its stake in Globe Life by 2.1% in the second quarter. State Street Corp now owns 3,735,409 shares of the company’s stock worth $667,443,000 after acquiring an additional 76,745 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Globe Life by 10.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,353,192 shares of the company’s stock worth $327,479,000 after acquiring an additional 217,331 shares during the last quarter. Pzena Investment Management LLC acquired a new stake in shares of Globe Life in the 2nd quarter valued at $242,256,000. Finally, Swedbank AB grew its stake in shares of Globe Life by 15.3% during the first quarter. Swedbank AB now owns 1,109,200 shares of the company’s stock worth $154,367,000 after purchasing an additional 147,200 shares in the last quarter. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

About Globe Life (Get Free Report)

Globe Life Inc (NYSE: GL) is an insurance holding company that provides individual life and supplemental health insurance products through a network of wholly owned subsidiaries. Its offerings are designed primarily for middle-income households and include term and whole life insurance, mortgage protection coverage, accident and supplemental health insurance, Medicare supplement policies, and annuities.

The company markets its products through several distribution channels, including exclusive and independent agency networks, direct-to-consumer sales, and workplace or union-affiliated programs.

Recommended Stories Five stocks we like better than Globe Life Comfort Systems Earnings: AI Slowdown or More Growth Ahead? Bristol Myers Squibb’s Cancer Breakthrough Could Have Implications Beyond Its Own Stock 5 Beaten-Down Growth Stocks Trading Like Value Plays as Cash Chases Mega-Caps Anthropic’s IPO Filing Reveals a Massive Opportunity for AI Infrastructure Giants

Receive News & Ratings for Globe Life Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globe Life and related companies with MarketBeat.com's FREE daily email newsletter.