Track market-moving stories before they get noisy

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.

The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.

Zacks Premium also includes the Zacks Style Scores.

What are the Zacks Style Scores? The Zacks Style Scores, developed alongside the Zacks Rank, are complementary indicators that rate stocks based on three widely-followed investing methodologies; they also help investors pick stocks with the best chances of beating the market over the next 30 days.

Each stock is assigned a rating of A, B, C, D, or F based on their value, growth, and momentum characteristics. Just like in school, an A is better than a B, a B is better than a C, and so on -- that means the better the score, the better chance the stock will outperform.

The Style Scores are broken down into four categories:

Value ScoreFor value investors, it's all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to help pick out the most attractive and discounted stocks.

Growth ScoreWhile good value is important, growth investors are more focused on a company's financial strength and health, and its future outlook. The Growth Style Score takes projected and historic earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.

Momentum ScoreMomentum trading is all about taking advantage of upward or downward trends in a stock's price or earnings outlook, and these investors live by the saying "the trend is your friend." The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.

VGM ScoreIf you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.

How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.

#1 (Strong Buy) stocks have produced an unmatched +23.7% average annual return since 1988, which is more than double the S&P 500's performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.

This totals more than 800 top-rated stocks, and it can be overwhelming to try and pick the best stocks for you and your portfolio.

That's where the Style Scores come in.

You want to make sure you're buying stocks with the highest likelihood of success, and to do that, you'll need to pick stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you like a stock that only has a #3 (Hold) rank, it should also have Scores of A or B to guarantee as much upside potential as possible.

Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.

A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.

Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: PENN Entertainment (PENN - Free Report) PENN Entertainment, Inc. was incorporated in Pennsylvania in 1982 as PNRC Corp. The company adopted its current name in 1994 when it became publicly traded. PENN Entertainment is a multi-jurisdictional owner and operator of gaming and racing facilities with video gaming terminal operations and a focus on slot machine entertainment. The company’s portfolio is geographically diverse and includes a broad set of regional properties.

PENN is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.

Additionally, the company could be a top pick for growth investors. PENN has a Growth Style Score of A, forecasting year-over-year earnings growth of 118.7% for the current fiscal year.

Three analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.04 to $1.09 per share. PENN also boasts an average earnings surprise of +120.1%.

With a solid Zacks Rank and top-tier Growth and VGM Style Scores, PENN should be on investors' short list.

What happenedAccording to a SEC filing dated May 15, 2026, Palidye Holdings (Caymans) Ltd reported a new position in  PENN Entertainment (PENN +2.22%), acquiring 1,400,000 shares over the first quarter. The position’s quarter-end market value reached $21.04 million. The stake represents 3.9% of the fund’s 13F assets under management.

What else to knowThis is a new position for Palidye, representing 3.9% of 13F AUM as of March 31, 2026

Top holdings after the filing:

NASDAQ:NVDA: $257.89 million (47.8% of AUM)NASDAQ:META: $123.17 million (22.9% of AUM)NASDAQ:MSFT: $114.19 million (21.2% of AUM)NASDAQ:DDOG: $3.95 million (0.7% of AUM)NYSE:XYZ: $2.93 million (0.5% of AUM)As of May 14, 2026, shares were priced at $15.83, down 2.2% over the past year.

Company OverviewMetricValueRevenue (TTM)$7.07 billionNet Income (TTM)$-957.20 millionMarket Capitalization$2.58 billionPrice (as of market close 2026-05-14)$15.83Company SnapshotPENN Entertainment, Inc. is a leading North American gaming and entertainment company with a multi-channel approach spanning land-based casinos and digital wagering platforms. Its scale and geographic reach position it as a significant competitor in the evolving gaming and interactive entertainment industry.

The company offers integrated entertainment, casino gaming, online sports betting, and iCasino services across North America under brands such as Hollywood Casino, L'Auberge, Barstool Sportsbook, and theScore Bet.

PENN Entertainment, Inc. targets a broad customer base including in-person casino patrons, online sports bettors, and iCasino users in regulated North American markets.It operates a diversified business model with 44 physical properties in 20 states and digital platforms in multiple jurisdictions, generating revenue through gaming, hospitality, and interactive wagering.

What this transaction means for investorsPENN Entertainment operates primarily as a regional casino company, with its digital wagering business now focused on iCasino and theScore Bet. The casino portfolio remains the core economic driver, while Interactive represents the key swing factor following the conclusion of the ESPN BET partnership. The central investment question is whether PENN can make its lower-cost digital strategy profitable without straining its existing casino cash flow.

PENN’s latest results showed the casino business still doing the heavy lifting while digital losses narrowed. Retail segment adjusted EBITDAR was $471.4 million, while Interactive posted an adjusted EBITDA loss of $10.8 million. That was a sharp improvement from a year earlier, helped by the realigned digital strategy and iCasino growth, but the segment remained negative. The quarter reinforced that PENN’s digital reset is improving, not finished.

For investors, PENN’s value depends on how well it manages cash between casinos, leases, development, paying down debt, and digital investments. iCasino and theScore Bet are simpler than the old ESPN BET setup, but the casino business still needs to keep providing financial flexibility. The strongest signal for PENN Entertainment investors moving forward would be steady casino cash flow, smaller losses in Interactive, and more visible free cash flow after covering necessary expenses.

Eric Trie has positions in Nvidia. The Motley Fool has positions in and recommends Block, Datadog, Meta Platforms, Microsoft, and Nvidia. The Motley Fool has a disclosure policy.

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New land-based Entertainment Destination Includes Premier Hotel, Spa, Event Center and World-Class Dining Experiences

WYOMISSING, Pa. & AURORA, Ill.--(BUSINESS WIRE)--PENN Entertainment, Inc. (Nasdaq: PENN) (“PENN” or the “Company”) announced today the expected closure of the Hollywood Casino Aurora riverboat property at 5:59am CDT on Wednesday, June 10, in preparation for the grand opening of the all-new, $360 million land-based property set to open on June 24, 2026, pending customary regulatory approvals.

“We are less than a month away from welcoming our loyal customers and guests to the new state-of-the-art Hollywood Casino Aurora,” said Jay Snowden, CEO and President of PENN Entertainment. “Our Aurora riverboat has created thousands of memorable experiences and supported economic development throughout the city for over three decades, and we look forward to replicating these successes for years to come.”

The new Hollywood Casino Aurora is being developed at 2500 N. Farnsworth Ave. adjacent to the Chicago Premium Outlets near Interstate 80 in Aurora. The facility will feature approximately 1,200 gaming positions, including high-limit slots and table games, a baccarat room and sportsbook. The property also includes a premium hotel with 226 rooms and suites, outdoor entertainment area, full-service spa, high-quality bars and restaurants including Sorella by Giada and Boulevard Food & Drink Hall, an approximately 12,000-square-foot event center with meeting areas and roughly 1,700 parking spaces.

All gaming operations at the riverboat property will maintain their normal operating hours until closing at 5:59am CDT on June 10. The hotel began accepting reservations in May.

“Our new location is ideally situated to welcome guests to enjoy a broad array of entertainment and dining experiences in the region,” said Rafael Verde, Senior Vice President of Operations for PENN Entertainment. “In the meantime, we invite our customers to visit our nearby locations, including the new Hollywood Casino Joliet and Ameristar East Chicago.”

Nearby Hollywood Casino Joliet, which opened in 2025, and Ameristar East Chicago, just over the state line in Indiana, are part of the same PENN Play customer rewards program as Hollywood Casino Aurora. Any unused chips from the Hollywood Casino Aurora riverboat location can be cashed in at the new Hollywood Casino Aurora cage until the end of the year on Dec. 31, 2026.

Hollywood Casino Aurora expects to launch its new website on June 10 to provide information on restaurant hours, menus and reservation systems.

About PENN Entertainment, Inc.

PENN Entertainment, Inc., together with its subsidiaries (“PENN,” or the “Company,” “we,” “our,” or “us”), operates in 27 jurisdictions throughout North America, with a broadly diversified portfolio of casinos, racetracks, and online sports betting and iCasino offerings. PENN’s focus is on organic cross-sell opportunities, reinforced by its market-leading retail casinos, sports media assets and technology, including a proprietary state-of-the-art, fully integrated digital sports betting and iCasino platform, and an in-house iCasino content studio. The Company’s portfolio is further bolstered by its industry-leading PENN Play™ customer loyalty program, offering its approximately 34 million members a unique set of rewards and experiences.

Forward Looking Statement

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward-looking terminology such as “expects,” “believes,” “estimates,” “projects,” “intends,” “plans,” “goal,” “seeks,” “may,” “will,” “should,” “look forward to,” or “anticipates” or the negative or other variations of these or similar words, or by discussions of future events, strategies or risks and uncertainties. These statements are based upon management's current expectations, assumptions and estimates and are not guarantees of timing, future results, or performance. Therefore, you should not rely on any of these forward-looking statements as predictions of future events. Actual results may differ materially from those contemplated in these statements due to a variety of risks, uncertainties and other factors, including those factors described in PENN Entertainment’s filings with the Securities and Exchange Commission (the “SEC”), including PENN Entertainment's current reports on Form 8-K, quarterly reports on Form 10-Q and its annual report on Form 10-K for the year ended December 31, 2025. Forward-looking statements speak only as of the date they are made and, except for PENN Entertainment’s ongoing obligations under the U.S. federal securities laws, PENN Entertainment undertakes no obligation to publicly update any forward-looking statements whether as a result of new information, future events or otherwise.

More News From PENN Entertainment, Inc.

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It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.

The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.

Zacks Premium also includes the Zacks Style Scores.

What are the Zacks Style Scores? The Zacks Style Scores, developed alongside the Zacks Rank, are complementary indicators that rate stocks based on three widely-followed investing methodologies; they also help investors pick stocks with the best chances of beating the market over the next 30 days.

Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.

The Style Scores are broken down into four categories:

Value ScoreValue investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.

Growth ScoreGrowth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.

Momentum ScoreMomentum trading is all about taking advantage of upward or downward trends in a stock's price or earnings outlook, and these investors live by the saying "the trend is your friend." The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.

VGM ScoreIf you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.

How Style Scores Work with the Zacks Rank A proprietary stock-rating model, the Zacks Rank utilizes the power of earnings estimate revisions, or changes to a company's earnings outlook, to help investors create a successful portfolio.

It's highly successful, with #1 (Strong Buy) stocks producing an unmatched +23.7% average annual return since 1988. That's more than double the S&P 500. But because of the large number of stocks we rate, there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.

But it can feel overwhelming to pick the right stocks for you and your investing goals with over 800 top-rated stocks to choose from.

That's where the Style Scores come in.

To have the best chance of big returns, you'll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you're looking at stocks with a #3 (Hold) rank, it's important they have Scores of A or B as well to ensure as much upside potential as possible.

The direction of a stock's earnings estimate revisions should always be a key factor when choosing which stocks to buy, since the Scores were created to work together with the Zacks Rank.

Here's an example: a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one with Style Scores of A and B, still has a downward-trending earnings outlook, and a bigger chance its share price will decrease too.

Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: PENN Entertainment (PENN - Free Report) PENN Entertainment, Inc. was incorporated in Pennsylvania in 1982 as PNRC Corp. The company adopted its current name in 1994 when it became publicly traded. PENN Entertainment is a multi-jurisdictional owner and operator of gaming and racing facilities with video gaming terminal operations and a focus on slot machine entertainment. The company’s portfolio is geographically diverse and includes a broad set of regional properties.

PENN is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.

Additionally, the company could be a top pick for growth investors. PENN has a Growth Style Score of A, forecasting year-over-year earnings growth of 118.7% for the current fiscal year.

Three analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.04 to $1.09 per share. PENN boasts an average earnings surprise of +120.1%.

With a solid Zacks Rank and top-tier Growth and VGM Style Scores, PENN should be on investors' short list.

Vornado Completes 125,000 SF of Leases with Leading Technology Companies Veeva and Altana at its Reimagined PENN District Office Tower June 09, 2026 08:30 ET  | Source: Vornado Realty Trust

NEW YORK, June 09, 2026 (GLOBE NEWSWIRE) -- Vornado Realty Trust (NYSE: VNO) today announced that PENN 2, its reimagined office tower in the heart of THE PENN DISTRICT campus, is now 90 percent leased after completing full-floor leases with both Altana AI and Veeva.

Veeva will occupy 62,223 square feet across PENN 2’s entire 11th floor under a 12-year lease. Veeva, a leading provider of cloud software, AI, data and consulting services tailored for the global life science community, helps companies develop and bring products to the market more efficiently.

In a 10-year, 62,309 square foot lease agreement, Altana will establish its new headquarters on the entire 21st floor of the 31-story tower. Altana's AI-powered trusted trade network connects the world's largest logistics providers, businesses, and their suppliers with government agencies like U.S. Customs and Border Protection — all around a shared source of product information. Businesses connect to Altana to automate trade compliance, navigate tariff complexity, and build supply chain resilience. Government agencies connect to Altana to design and enforce trade and economic security policies.

“We didn’t merely renovate PENN 2 – we completely reinvented it, transforming a once legacy office tower into a world-class work environment atop the most connected transportation hub in the Western Hemisphere,” said Glen Weiss, Executive Vice President - Office Leasing and Co-Head of Real Estate for Vornado Realty Trust. “The most impressive aspect is the fact that PENN 2 has become the headquarters for so many iconic blue-chip companies, including Madison Square Garden Entertainment, Universal Music Group, Major League Soccer, Verizon and Dick’s Sporting Goods. We are pleased to welcome Altana and Veeva to PENN 2’s best in class tenant roster.”

"New York City has been a key Veeva hub for tech and consulting talent,” said Sarah Caldwell, New York City site leader and CEO of Veeva Crossix. “We’re excited that the new space will support more employee and customer connection and provide both a productive and collaborative environment."

Altana CEO and Co-Founder Evan Smith said, “Our mission is to fix globalization. PENN 2 sits at the center of one of the most connected hubs in the world — it's exactly the kind of place where that work should happen.”

Vornado completely transformed PENN 2 by creating a modern and highly efficient curtain wall, a striking triple-height lobby and 16 distinctive double-height outdoor tenant loggias. The building features 72,000 square feet of outdoor green spaces; The Perch, a rooftop glass pavilion and event space that opens onto a lushly landscaped 17,000 square foot private green space available to all tenants; and a 280-seat Town Hall suspended above a sprawling pedestrian plaza on 33rd Street. The new PENN 2 also encompasses 30,000 square feet of curated retail, including The Dynamo Room, a 7,100 square foot full-service restaurant and bar by Sunday Hospitality.

Together with its neighboring PENN 1, the towers create a two-building connected campus in the heart of THE PENN DISTRICT. The twin projects encompass 4.4 million square feet of premium office space; a host of new and improved entrances to Penn Station and the surrounding subway system; and acres of new public plazas, landscaping, and granite stone-paved sidewalks.

All PENN DISTRICT tenants have access to 180,000 square feet of Vornado’s WorkLife program, the most extensive and comprehensive amenity package in the City, highlighted by The Landing, a full-service restaurant, bar and private dining rooms; a 53,000 square foot sports, wellness and fitness center; and 100,000 square feet of flexible workspace and conference facilities.

THE PENN DISTRICT campus is situated directly above Penn Station, North America’s most accessible and active mass transit hub. A total of 15 subway lines, along with Long Island Rail Road, New Jersey Transit, PATH and Amtrak all converge in the district. They will be joined by Metro-North commuters starting in 2027.

Additional information on PENN 2 and images can be found at https://www.vnopenn2.com/.

About Vornado Realty Trust
Vornado is a fully integrated real estate investment trust (“REIT”) with a portfolio of premier New York City office and retail assets and the developer of the new PENN DISTRICT. While concentrated in New York, Vornado also owns premier assets in both Chicago and San Francisco. Vornado is a real estate industry leader in sustainability, with 100% of our in-service offices buildings LEED certified and over 95% certified LEED Gold or Platinum.

C O N T A C T

Thomas J. Sanelli
(212) 894-7000

Certain statements contained herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not guarantees of performance. They represent our intentions, plans, expectations and beliefs and are subject to numerous assumptions, risks and uncertainties. Our future results, financial condition and business may differ materially from those expressed in these forward-looking statements. You can find many of these statements by looking for words such as "approximates," "believes," "expects," "anticipates," "estimates," "intends," "plans," "would," "may" or other similar expressions in this press release. For a discussion of factors that could materially affect the outcome of our forward-looking statements and our future results and financial condition, see “Risk Factors” in Part I, Item 1A, of our Annual Report on Form 10-K for the year ended December 31, 2025. Currently, some of the factors are interest rate fluctuations and the effects of inflation on our business, financial condition, results of operations, cash flows, operating performance and the effect that these factors have had and may continue to have on our tenants, the global, national, regional and local economies and financial markets and the real estate market in general.

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.

The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor.

Zacks Premium also includes the Zacks Style Scores.

What are the Zacks Style Scores? The Zacks Style Scores is a unique set of guidelines that rates stocks based on three popular investing types, and were developed as complementary indicators for the Zacks Rank. This combination helps investors choose securities with the highest chances of beating the market over the next 30 days.

Each stock is given an alphabetic rating of A, B, C, D or F based on their value, growth, and momentum qualities. With this system, an A is better than a B, a B is better than a C, and so on, meaning the better the score, the better chance the stock will outperform.

The Style Scores are broken down into four categories:

Value ScoreFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.

Growth ScoreWhile good value is important, growth investors are more focused on a company's financial strength and health, and its future outlook. The Growth Style Score takes projected and historic earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.

Momentum ScoreMomentum trading is all about taking advantage of upward or downward trends in a stock's price or earnings outlook, and these investors live by the saying "the trend is your friend." The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.

VGM ScoreIf you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.

How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.

#1 (Strong Buy) stocks have produced an unmatched +23.7% average annual return since 1988, which is more than double the S&P 500's performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.

This totals more than 800 top-rated stocks, and it can be overwhelming to try and pick the best stocks for you and your portfolio.

That's where the Style Scores come in.

You want to make sure you're buying stocks with the highest likelihood of success, and to do that, you'll need to pick stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you like a stock that only has a #3 (Hold) rank, it should also have Scores of A or B to guarantee as much upside potential as possible.

Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.

For instance, a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one that boasts Scores of A and B, still has a downward-trending earnings forecast, and a much greater likelihood its share price will decline as well.

Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: PENN Entertainment (PENN - Free Report) PENN Entertainment, Inc. was incorporated in Pennsylvania in 1982 as PNRC Corp. The company adopted its current name in 1994 when it became publicly traded. PENN Entertainment is a multi-jurisdictional owner and operator of gaming and racing facilities with video gaming terminal operations and a focus on slot machine entertainment. The company’s portfolio is geographically diverse and includes a broad set of regional properties.

PENN is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.

Momentum investors should take note of this Consumer Discretionary stock. PENN has a Momentum Style Score of A, and shares are up 29.3% over the past four weeks.

For fiscal 2026, three analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.04 to $1.09 per share. PENN boasts an average earnings surprise of +120.1%.

With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, PENN should be on investors' short list.

WYOMISSING, Pa. & COLUMBUS, Ohio--(BUSINESS WIRE)--PENN Entertainment, Inc. (Nasdaq: PENN) (“PENN” or the “Company”) is pleased to announce the new hotel tower at Hollywood Casino Columbus (“Hollywood Columbus”) has officially opened.

Exterior Link: https://www.dropbox.com/scl/fo/god9dunryhsn0dqs6ldv9/ANkKYEs0GFO3hPm5D_c32Gk/Hollywood%20Casino%20%7C%20Columbus/HollywoodCasino_Columbus_0001_.jpg?rlkey=yi85br1qrm3t25qj4h20i3i9b&st=6cm90hpo&dl=0

The Hill Link: https://www.dropbox.com/scl/fo/god9dunryhsn0dqs6ldv9/AG6nZ7-fUStYUS7gpRtOLqM/Hollywood%20Casino%20%7C%20Columbus/HollywoodCasino_Columbus_0008_.jpg?rlkey=yi85br1qrm3t25qj4h20i3i9b&st=cienxr67&dl=0

The $100 million, 203-room hotel provides guests with upscale accommodations at the premier gaming, dining, and entertainment experience in Columbus. The 150,000 square-foot tower features 183 standard rooms and 20 luxury suites, a full-service bar and restaurant - The Hill Eatery & Lounge, conference rooms, fitness center and an outdoor seating terrace. In addition to the hotel, Hollywood Casino Columbus will also introduce an expanded high limit table games room and speakeasy bar in the third quarter of 2026, pending customary regulatory approvals. PENN estimates the overall expansion will add 150 new jobs at the property.

Hollywood Columbus hosted a grand opening ceremony yesterday afternoon with special guests and dignitaries. Today’s festivities include a processional led by The Ohio State University Alumni Band, a Bret Michaels concert, fireworks show, and a chance to win a 2026 Indian Motorcycle. Tickets can be purchased at Ticketmaster.com and doors open at 6:00PM EST.

“We’re delighted to officially open our new hotel in Columbus, which further positions us as the top entertainment destination in the region,” said Jay Snowden, CEO & President of PENN Entertainment. “This opening marks our third of four retail development projects to open in under a year, and we expect to follow this momentous day with the grand opening of our new casino in Aurora, Illinois in less than two weeks.”

The Columbus hotel tower is the third of PENN’s previously announced growth projects to be completed. In 2025, PENN opened an all-new land-based casino in Joliet, Illinois and a new hotel tower at M Resort Spa Casino Las Vegas. PENN plans to open the new Hollywood Casino Aurora on June 24th, 2026, and another relocation to a new land-based property in Council Bluffs, Iowa is anticipated to open in 2028, each pending regulatory approvals.

About PENN Entertainment, Inc.

PENN Entertainment, Inc., together with its subsidiaries (“PENN,” or the “Company,” “we,” “our,” or “us”), operates in 27 jurisdictions throughout North America, with a broadly diversified portfolio of casinos, racetracks, and online sports betting and iCasino offerings. PENN’s focus is on organic cross-sell opportunities, reinforced by its market-leading retail casinos, sports media assets and technology, including a proprietary state-of-the-art, fully integrated digital sports betting and iCasino platform, and an in-house iCasino content studio. The Company’s portfolio is further bolstered by its industry-leading PENN Play™ customer loyalty program, offering its approximately 34 million members a unique set of rewards and experiences.

Forward Looking Statement

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward-looking terminology such as “expects,” “believes,” “estimates,” “projects,” “intends,” “plans,” “goal,” “seeks,” “may,” “will,” “should,” “look forward to,” or “anticipates” or the negative or other variations of these or similar words, or by discussions of future events, strategies or risks and uncertainties. These statements are based upon management's current expectations, assumptions and estimates and are not guarantees of timing, future results, or performance. Therefore, you should not rely on any of these forward-looking statements as predictions of future events. Actual results may differ materially from those contemplated in these statements due to a variety of risks, uncertainties and other factors, including those factors described in PENN Entertainment’s filings with the Securities and Exchange Commission (the “SEC”), including PENN Entertainment's current reports on Form 8-K, quarterly reports on Form 10-Q and its annual report on Form 10-K for the year ended December 31, 2025. Forward-looking statements speak only as of the date they are made and, except for PENN Entertainment’s ongoing obligations under the U.S. federal securities laws, PENN Entertainment undertakes no obligation to publicly update any forward-looking statements whether as a result of new information, future events or otherwise.

More News From PENN Entertainment, Inc.

PITTSBURGH--(BUSINESS WIRE)--PPG (NYSE:PPG) today reported financial results for the first quarter 2026.

First Quarter 2026 Consolidated Results

$ in millions, except EPS

1Q 2026

1Q 2025

YOY change

Net sales

$3,930

$3,684

+7%

Net income (a)

$382

$375

+2%

Adjusted net income (a)(b)

$411

$396

+4%

EPS (a)

$1.70

$1.64

+4%

Adjusted EPS (a)(b)

$1.83

$1.72

+6%

(a) From continuing operations

(b) Reconciliations of reported to adjusted figures are included below

Chairman and CEO Comments

Tim Knavish, PPG chairman and chief executive officer, commented on the quarter:

In the first quarter, PPG delivered organic sales growth of 1%, demonstrating our ability to maintain growth momentum in a challenging environment. We delivered higher selling prices, with further selling price realization targeted to offset any inflationary impact more quickly than prior cycles. Adjusted EPS increased 6% driven by strong results in our differentiated aerospace and architectural coatings Latin America businesses, reflecting the benefits of our technology-advantaged products and strong brand recognition, along with excellent commercial execution.

Our Global Architectural Coatings segment achieved low single-digit percentage organic sales growth and EBITDA margin improvement of 230 basis points driven by strength in Latin America. In Europe, demand remains mixed whereas in Mexico, project-related sales are recovering and retail sales were especially strong.

Performance Coatings segment organic sales grew a low single-digit percentage benefitting from strong demand for aerospace and protective and marine coatings products. Aerospace industry growth is expected to remain robust, and our order backlog positions us well to deliver consistent above-industry growth in this key end market.

In our Industrial Coatings segment, we are delivering on previously communicated share gains in automotive original equipment manufacturer (OEM) coatings and packaging coatings, which allowed us to grow above industry levels. However, margins in the first quarter were negatively impacted by regional mix as China automotive production dropped in comparison to a particularly high level in the first quarter of last year. Results for packaging coatings were outstanding as we increased both organic sales and EBITDA margin.

Looking ahead, we expect strong growth in aerospace, architectural coatings in Latin America, protective and marine coatings and packaging coatings. Automotive refinish coatings organic sales are anticipated to improve for PPG in the second half of the year related to the phasing of customer order patterns last year. We are also seeing early signs of demand improvement in the U.S. refinish market as insurance claims begin to normalize to historical levels.

In recent weeks, costs have risen for raw materials, energy, logistics and packaging across the coatings value chain. As a result, PPG has proactively announced price adjustments globally and across the portfolio. Given the scale of our differentiated portfolio, we are able to source raw materials globally, and compared to prior inflation cycles, we have an improved ability to offset inflation by increasing selling prices in step with raw material price increases.

In the second quarter, we expect both organic sales and adjusted earnings per share in the range of flat to growth of a low single-digit percentage. We are maintaining our full-year earnings per share guidance range of $7.70 to $8.10. This guidance reflects confidence in our growth momentum, including share gains and realization of pricing and execution of self-help actions, which will serve to mitigate the raw material inflation impact.

Thank you to our PPG team around the world who make it happen and deliver on our purpose every day: We protect and beautify the world®.

Additional Financial Information

Net sales in the quarter increased 7% year over year, including benefits from higher selling prices of 1% and positive foreign currency translation of 6%. At quarter end, the company had cash and short-term investments totaling $1.6 billion. Net debt was $5.5 billion, an increase of $150 million from the first quarter 2025. Cash from operating activities was $33 million, approximately $50 million higher year over year. The company repaid $700 million of debt which matured in the first quarter. Corporate expenses were $83 million in the first quarter. First quarter net interest expense was $24 million. In the first quarter, the effective tax rate was approximately 25.5%, up about 100 basis points year over year. First Quarter 2026 Reportable Segment Financial Results

Global Architectural Coatings Segment

$ in millions

1Q 2026

1Q 2025

YOY change

Net sales

$965

$857

+13%

Sales volumes

—%

Selling prices

+2%

Foreign currency translation

+12%

Divestitures

(1)%

Segment income

$155

$118

+31%

Segment income %

16.1%

13.8%

Segment EBITDA (a)

$184

$144

+28%

Segment EBITDA %

19.1%

16.8%

(a) Reconciliations of reported to adjusted figures are included below

Global Architectural Coatings segment net sales increased 13% compared to the first quarter 2025 driven by higher selling prices and a benefit from foreign currency translation partially offset by divestitures.

Organic sales for architectural coatings Latin America and Asia Pacific increased by a mid-single-digit percentage compared to the first quarter 2025 driven by growth in Latin America. Organic sales for architectural coatings EMEA declined by a low single-digit percentage year over year, with higher selling prices more than offset by lower sales volumes. In Mexico, retail sales were especially strong in the quarter. Mexican project-related sales continued to recover and the company expects further incremental improvement in the second quarter aided by higher business and governmental project investment.

Segment EBITDA increased 28% and segment EBITDA margin improved 230 basis points compared to the prior year with realization of higher selling prices and cost-control actions.

Performance Coatings Segment

$ in millions

1Q 2026

1Q 2025

YOY change

Net sales

$1,334

$1,265

+5%

Sales volumes

(2)%

Selling prices

+3%

Foreign currency translation

+3%

Acquisitions

+1%

Segment income

$288

$274

+5%

Segment income %

21.6%

21.7%

Segment EBITDA (a)

$326

$307

+6%

Segment EBITDA %

24.4%

24.3%

(a) Reconciliations of reported to adjusted figures are included below

Performance Coatings segment net sales increased 5% driven by higher selling prices, foreign currency translation benefit, and acquisitions, partially offset by lower sales volumes.

Organic sales improved 1% compared to the prior year driven by aerospace, protective and marine coatings, and traffic solutions, partially offset by expected year-over-year sales volume declines in automotive refinish coatings. Aerospace achieved exceptional quarterly sales with double-digit percentage organic sales growth while our order backlog remained at about $315 million. Organic sales in automotive refinish coatings decreased by a double-digit percentage as sales volumes were lower, reflecting a difficult comparison to the prior year when customer order patterns were heavily weighted to the first half of 2025. Protective and marine coatings organic sales increased by a high single-digit percentage compared to the prior year, achieving its 12th consecutive quarter of sales volume growth, including above-market marine sales volume growth in Asia Pacific. Organic sales in traffic solutions increased a high single-digit percentage driven by strong demand across the U.S. and Canada.

Compared to the first quarter 2025, segment EBITDA increased by 6% and segment EBITDA margin improved slightly, driven by higher selling prices partially offset by lower automotive refinish coatings sales volumes and higher growth-related investment spending in aerospace and protective and marine coatings.

Industrial Coatings Segment

$ in millions

1Q 2026

1Q 2025

YOY change

Net sales

$1,631

$1,562

+4%

Sales volumes

+1%

Selling prices

(1)%

Foreign currency translation

+4%

Segment income

$193

$215

(10)%

Segment income %

11.8%

13.8%

Segment EBITDA (a)

$245

$263

(7)%

Segment EBITDA %

15.0%

16.8%

(a) Reconciliations of reported to adjusted figures are included below

Industrial Coatings segment net sales increased 4% compared to the first quarter 2025 driven by foreign currency translation. Organic sales were flat, including sales volumes growth of 1%, reflecting the benefits from share gains offset by the impact of lower selling prices from certain index-based customer contracts.

Automotive OEM coatings organic sales decreased a low single-digit percentage, with flat sales volumes, including share gains, resulting in the business outpacing the decline in global automotive industry production by about 300 basis points. Industrial coatings organic sales declined a low single-digit percentage driven by soft demand in the United States which offset growth in other regions. Packaging coatings organic sales increased by a double-digit percentage versus the prior year period and sales volumes are up over 20 percent on a two-year stacked basis, driven by share gains, as customers adopt our leading technologies.

Segment EBITDA decreased 7% and segment EBITDA margin declined 180 basis points compared to the first quarter 2025. This was driven by regional mix and lower selling prices due to index-based contracts.

Outlook

The company expects both second quarter organic sales and adjusted earnings per share in the range of flat to growth of a low single-digit percentage. We are maintaining our full-year earnings per share guidance range of $7.70 to $8.10. This reflects the momentum of share gains and self-help actions, along with an updated view of current global economic activity, foreign exchange rates as well as regional and business mix.

Additional information related to 2026 financial projections is posted within the slides and prepared commentary associated with the first quarter earnings documents on the Investors section of PPG.com.

The term organic sales as used in this press release is defined as net sales excluding the impact of currency, acquisitions and divestitures.

PPG: WE PROTECT AND BEAUTIFY THE WORLD®

At PPG (NYSE:PPG), we work every day to develop and deliver the paints, coatings and specialty products that our customers have trusted for more than 140 years. Through dedication and creativity, we solve our customers’ biggest challenges, collaborating closely to find the right path forward. With headquarters in Pittsburgh, we market and sell in more than 50 countries and reported net sales of $15.9 billion in 2025. We serve customers in construction, consumer products, industrial and transportation markets and aftermarkets. To learn more, visit www.ppg.com.

The PPG Logo and We protect and beautify the world are registered trademarks of PPG Industries Ohio, Inc.

Additional Information

PPG will provide detailed commentary regarding its financial performance, including presentation-slide content, on the PPG Investor Center at www.ppg.com at about 4:30 p.m. ET today, April 28. The company will hold a conference call to review its first quarter 2026 financial performance on April 29, at 8:00 a.m. ET. Participants can pre-register for the conference by navigating to https://events.q4inc.com/analyst/616458242?pwd=9U5JS1Tl. The conference call also will be available in listen-only mode via Internet broadcast from the PPG Investor Center at www.ppg.com. A web replay will be available shortly after the call on the PPG Investor Center at www.ppg.com, and will remain through Tuesday, April 28, 2027.

Forward-Looking Statements

Statements contained herein relating to matters that are not historical facts are forward-looking statements reflecting PPG’s current view with respect to future events and financial performance. These matters within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, involve risks and uncertainties that may affect PPG’s operations, as discussed in the company’s filings with the Securities and Exchange Commission pursuant to Sections 13(a), 13(c) or 15(d) of the Exchange Act, and the rules and regulations promulgated thereunder. Accordingly, many factors could cause actual results to differ materially from the forward-looking statements contained herein. Such factors include statements related to earnings guidance, global economic conditions, geopolitical issues, the amount of future share repurchases, increasing price and product competition by our competitors, fluctuations in cost and availability of raw materials, energy, labor and logistics, the ability to achieve selling price increases, margins, share gains, customer inventory levels, PPG inventory levels, the ability to maintain favorable supplier relationships and arrangements, the timing of realization of anticipated cost savings from restructuring and other initiatives, the ability to identify additional cost savings opportunities, the timing and expected benefits of potential future and completed acquisitions, difficulties in integrating acquired businesses and achieving expected synergies therefrom, economic and political conditions in international markets, the imposition and magnitude of tariffs, the ability to penetrate existing, developing and emerging foreign and domestic markets, foreign exchange rates and fluctuations in such rates, fluctuations in tax rates, the impact of future legislation, the impact of environmental regulations, unexpected business disruptions, global human health issues, the unpredictability of existing and possible future litigation, including asbestos litigation, and governmental investigations. However, it is not possible to predict or identify all such factors. Consequently, while the list of factors presented here and in our 2025 Annual Report on Form 10-K are considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. Consequences of material differences in results compared with those anticipated in the forward-looking statements could include, among other things, lower sales or earnings, business disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material adverse effect on PPG’s consolidated financial condition, results of operations or liquidity.

All information in this release speaks only as of April 28, 2026, and any distribution of this release after that date is not intended and will not be construed as updating or confirming such information. PPG undertakes no obligation to update any forward-looking statement, except as otherwise required by applicable law.

Regulation G Reconciliation

PPG believes investors’ understanding of the company’s performance is enhanced by the disclosure of net income, earnings per diluted share from continuing operations, PPG’s effective tax rate adjusted for certain items, earnings before interest, taxes, depreciation and amortization ("EBITDA"), adjusted EBITDA, adjusted EBITDA margin, and segment EBITDA. PPG’s management considers this information useful in providing insight into the company’s ongoing performance because it excludes the impact of items that cannot reasonably be expected to recur on a quarterly basis or that are not attributable to our primary operations. Net income, earnings per diluted share from continuing operations and the effective tax rate adjusted for these items, EBITDA, adjusted EBITDA, adjusted EBITDA margin, and segment EBITDA are not recognized financial measures determined in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and should not be considered a substitute for net income, earnings per diluted share, the effective tax rate, segment income or other financial measures as computed in accordance with U.S. GAAP. In addition, adjusted net income, adjusted earnings per diluted share, the adjusted effective tax rate, EBITDA, adjusted EBITDA, adjusted EBITDA margin and segment EBITDA may not be comparable to similarly titled measures as reported by other companies. PPG is not able to provide a reconciliation of second quarter 2026 or full-year 2026 expected adjusted earnings per diluted share to the most directly comparable GAAP financial measure without unreasonable effort because certain items that impact such measure are uncertain or cannot be reasonably predicted at this time.

Regulation G Reconciliation - Net Income, Earnings per Diluted Share, Effective Tax Rate and Segment Income

($ in millions, except per-share amounts and percentages)

First Quarter

2026

First Quarter

2025

$

EPS(a)

$

EPS (a)

Reported net income from continuing operations

$382

$1.70

$375

$1.64

Acquisition-related amortization expense

20

0.09

24

0.10

Business restructuring-related costs, net(b)

4

0.02

7

0.03

Portfolio optimization(c)

5

0.02

(6

)

(0.03

)

Insurance recovery(d)

—

—

(4

)

(0.02

)

Adjusted net income from continuing operations, excluding certain items

$411

$1.83

$396

$1.72

First Quarter

2026

First Quarter

2025

Income Before Income Taxes

Tax Expense

Effective Tax Rate

Income Before Income Taxes

Tax Expense

Effective Tax Rate

Effective tax rate, continuing operations

$517

$132

25.5

%

$502

$122

24.3

%

Acquisition-related amortization expense

27

7

24.3

%

32

8

24.4

%

Business restructuring-related costs, net(b)

5

1

23.2

%

9

2

19.7

%

Portfolio optimization(c)

7

2

25.6

%

(6

)

—

N/A

Insurance recovery(d)

—

—

—

%

(6

)

(2

)

24.3

%

Adjusted effective tax rate, continuing operations, excluding certain items

$556

$142

25.5

%

$531

$130

24.5

%

  First Quarter

2026

2025

Global Architectural Coatings

Net sales

$965

$857

Segment income

$155

$118

Segment depreciation and amortization

29

26

Segment EBITDA

$184

$144

Segment EBITDA %

19.1

%

16.8

%

Performance Coatings

Net sales

$1,334

$1,265

Segment income

$288

$274

Segment depreciation and amortization

38

33

Segment EBITDA

$326

$307

Segment EBITDA %

24.4

%

24.3

%

Industrial Coatings

Net sales

$1,631

$1,562

Segment income

$193

$215

Segment depreciation and amortization

52

48

Segment EBITDA

$245

$263

Segment EBITDA %

15.0

%

16.8

%

Total Segment EBITDA

Net sales

$3,930

$3,684

Segment income

$636

$607

Segment depreciation and amortization

119

107

Segment EBITDA

$755

$714

Segment EBITDA %

19.2

%

19.4

%

PPG INDUSTRIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENT OF INCOME (unaudited)

(All amounts in millions except per-share data)

Three Months Ended

March 31

2026

2025

Net sales

$3,930

$3,684

Cost of sales, exclusive of depreciation and amortization

2,275

2,142

Selling, general and administrative

885

838

Depreciation

105

89

Amortization

27

32

Research and development, net

113

102

Interest expense

61

56

Interest income

(37

)

(43

)

Other income, net

(16

)

(34

)

Income before income taxes

$517

$502

Income tax expense

132

122

Income from continuing operations

$385

$380

Loss from discontinued operations, net of tax

—

(2

)

Net income attributable to controlling and noncontrolling interests

$385

$378

Net income attributable to noncontrolling interests

(3

)

(5

)

Net income (attributable to PPG)

$382

$373

Amounts attributable to PPG:

Income from continuing operations, net of tax

$382

$375

Loss from discontinued operations, net of tax

—

(2

)

Net income (attributable to PPG)

$382

$373

Earnings per common share:

Income from continuing operations, net of tax

$1.71

$1.64

Loss from discontinued operations, net of tax

—

(0.01

)

Earnings per common share (attributable to PPG)

$1.71

$1.63

Earnings per common share – assuming dilution:

Income from continuing operations, net of tax

$1.70

$1.64

Loss from discontinued operations, net of tax

—

(0.01

)

Earnings per common share (attributable to PPG) - assuming dilution

$1.70

$1.63

Average shares outstanding

223.7

228.0

Average shares outstanding - assuming dilution

224.4

228.9

PPG INDUSTRIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS HIGHLIGHTS (unaudited)

($ in millions)

Three Months Ended

March 31

2026

2025

Cash from/(used for) operating activities:

Cash from/(used for) operating activities - continuing operations

$33

($16

)

Cash used for operating activities - discontinued operations

$—

($2

)

Cash from/(used for) operating activities

$33

($18

)

Cash used for investing activities - continuing operations:

Capital expenditures

$196

$209

Cash used for financing activities - continuing operations:

Dividends paid on PPG common stock

$159

$154

Purchase of treasury stock

$96

$394

PPG INDUSTRIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEET HIGHLIGHTS (unaudited)

($ in millions)

March 31

December 31

March 31

2026

2025

2025

Current assets:

Cash and cash equivalents

$1,573

$2,163

$1,830

Short-term investments

51

56

63

Receivables, net

3,676

3,336

3,429

Inventories

2,162

1,996

2,115

Other current assets

508

408

464

Total current assets

$7,970

$7,959

$7,901

Current liabilities:

Short-term debt and current portion of long-term debt

$736

$706

$1,688

Accounts payable and accrued liabilities

4,001

3,957

3,885

Current portion of operating lease liabilities

138

138

134

Restructuring reserves

78

99

130

Total current liabilities

$4,953

$4,900

$5,837

Long-term debt

$6,407

$6,602

$5,574

PPG OPERATING METRICS (unaudited)

($ in millions)

March 31

December 31

March 31

2026

2025

2025

Operating Working Capital(a)

$3,138

$2,748

$2,843

As a percent of quarter sales, annualized

20.0

%

17.6

%

19.3

%

(a) Operating working capital includes: (1) receivables from customers, net of allowance for doubtful accounts, (2) FIFO inventories and (3) trade liabilities.

PPG INDUSTRIES, INC. AND SUBSIDIARIES

CONSOLIDATED BUSINESS SEGMENT INFORMATION (unaudited)

($ in millions)

Three Months Ended

March 31

2026

2025

Net sales

Global Architectural Coatings

$965

$857

Performance Coatings

1,334

1,265

Industrial Coatings

1,631

1,562

Total

$3,930

$3,684

Segment income

Global Architectural Coatings

$155

$118

Performance Coatings

288

274

Industrial Coatings

193

215

Total

$636

$607

Items not allocated to segments

Corporate / non-segment unallocated, exclusive of depreciation and amortization

(74

)

(81

)

Corporate / non-segment unallocated depreciation and amortization

(9

)

(14

)

Interest expense, net of interest income

(24

)

(13

)

Business restructuring-related costs, net (a)

(5

)

(9

)

Portfolio optimization (b)

(7

)

6

Insurance recovery (c)

—

6

Income before income taxes

$517

$502

For the quarter ended March 2026, PPG Industries (PPG - Free Report) reported revenue of $3.93 billion, up 6.7% over the same period last year. EPS came in at $1.83, compared to $1.72 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $3.84 billion, representing a surprise of +2.4%. The company delivered an EPS surprise of +0.05%, with the consensus EPS estimate being $1.83.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how PPG Industries performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Net Sales- Performance Coatings: $1.33 billion versus the four-analyst average estimate of $1.31 billion. The reported number represents a year-over-year change of +5.5%.Net Sales- Global Architectural Coatings: $965 million versus $944.12 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +12.6% change.Net Sales- Industrial Coatings: $1.63 billion compared to the $1.6 billion average estimate based on four analysts. The reported number represents a change of +4.4% year over year.Segment Income- Performance Coatings: $288 million versus $258.38 million estimated by four analysts on average.Segment Income- Global Architectural Coatings: $155 million compared to the $141.42 million average estimate based on four analysts.Segment Income- Industrial Coatings: $193 million compared to the $217.3 million average estimate based on four analysts.View all Key Company Metrics for PPG Industries here>>>

Shares of PPG Industries have returned +6.2% over the past month versus the Zacks S&P 500 composite's +12.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

PPG Industries, Inc. (PPG) Q1 2026 Earnings Call Transcript

Tracking the trading activity of members of Congress can reveal unusual timed purchases based on congressional committees and world events. For one member of Congress, tracking reveals a preference to invest in the same stocks over and over again using the dividend reinvestment method.

• Coca-Cola stock is showing upward bias. What’s the outlook for KO shares?

Rep. Lloyd Doggett (D-Texas) disclosed buying shares of six stocks this year, as tracked by the Benzinga Government Trades page.

Those six stocks are all ones he's purchased before, with the filings listing the trades as part of dividend reinvestment plans.

This means that Doggett reinvests the quarterly dividends in the stocks to buy more shares of the company.

Here are the six stocks bought by Doggett in 2026 and their current dividend yields:

Five of the six stocks bought by Doggett are members of the Dow Jones Industrial Average, with PPG Industries the lone stock not included. The index is well-known for tracking blue-chip stocks, with many paying out strong dividend yields.

Dividend reinvesting is a strategy used by some investors to grow their own portfolio and yields over time. The more shares that are acquired of each dividend paying stock, the more the dividend payout goes up as long as the stock keeps paying out dividends.

Many of the names above from Doggett have a history of increasing their dividend payouts each year as well, growing the dividend payments even more.

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PITTSBURGH--(BUSINESS WIRE)--PPG (NYSE:PPG) today released its 2025 Sustainability Report, showing further progress toward the company’s 2030 sustainability targets. Highlights include strong growth in sales from sustainably advantaged products driven by customer demand, as well as reductions in greenhouse gas (GHG) emissions across operations and the value chain, and investments in innovation, culture and communities.

“Sustainability is a core element of our enterprise growth strategy and a critical driver of customer productivity,” said Peter Votruba-Drzal, PPG vice president, global sustainability. “By embedding sustainability into how we innovate and operate, we are delivering measurable value for our customers through high-performing, efficient solutions while strengthening our competitive position and advancing progress toward our 2030 commitments.”

Guided by its validated science-based targets, PPG has made progress in decarbonizing its operations and value chain while expanding its portfolio of sustainably advantaged products that help customers reduce energy use, emissions, water consumption and waste.

Highlights in PPG’s 2025 Sustainability Report include:

43% of sales from sustainably advantaged products, reflecting strong customer demand for solutions that improve productivity and deliver measurable environmental benefits. Examples include advanced powder and electrocoat technologies that help customers lower energy use and emissions. 25% reduction in GHG emissions from PPG’s own operations (scope 1 and 2) compared to the 2019 baseline, driven by energy efficiency improvements, renewable electricity sourcing and process optimization. 5% reduction in value chain (scope 3) GHG emissions across purchased goods and services, customer processing of sold products and end-of-life treatment, supported by increased supplier engagement and expanded data-quality initiatives. 29% reduction in water intensity at priority sites in water-stressed areas, surpassing PPG’s 2030 target for water stewardship. 100% of key suppliers assessed against sustainability and social responsibility criteria, reinforcing PPG’s commitment to responsible sourcing and human rights across its supply chain. $18.1 million invested in communities in 2025. $15 million commitment to extend PPG’s COLORFUL COMMUNITIES® program through 2035 and support the next decade of community revitalization projects. The report also highlights progress in innovation, including the expanded use of digital tools and AI to accelerate product development and reduce lifecycle impacts, as well as its focus on employee safety, engagement and culture.

PPG’s 2025 Sustainability Report is available at ppg.com/sustainability.

PPG: WE PROTECT AND BEAUTIFY THE WORLD®

At PPG (NYSE:PPG), we work every day to develop and deliver the paints, coatings and specialty products that our customers have trusted for more than 140 years. Through dedication and creativity, we solve our customers’ biggest challenges, collaborating closely to find the right path forward. With headquarters in Pittsburgh, we operate and innovate in more than 50 countries and reported net sales of $15.9 billion in 2025. We serve customers in construction, consumer products, industrial and transportation markets and aftermarkets. To learn more, visit www.ppg.com.

Colorful Communities, the PPG Logo and We protect and beautify the world are registered trademarks of PPG Industries Ohio, Inc.

Key Takeaways PPG launched Selemix 7-140 topcoat for heavy industrial uses across the EMEA region. PPG said the coating resists UV, chemicals, abrasion and salt spray in harsh conditions. PPG noted the system can achieve C5M certification for high corrosion protection. PPG Industries (PPG - Free Report) has launched the new PPG Selemix 7-140 2K acrylic high-solids topcoat, expanding its industrial coatings portfolio to address rising demand for durable, high-performance finishes across heavy industrial applications in the EMEA region. 

The new topcoat is designed for agricultural equipment, construction machinery, commercial vehicles and industrial components exposed to harsh operating conditions. PPG said the topcoat delivers excellent resistance to humidity, UV exposure, chemicals, abrasion and salt spray while maintaining a smooth, high-gloss finish. 

A key advantage of the Selemix 7-140 topcoat is its flexibility in application. The product is compatible with conventional spray guns, air-assisted airless systems and electrostatic spray equipment, helping manufacturers improve efficiency across different production environments. The coating also offers strong sag resistance for a more consistent finish on complex surfaces. 

PPG noted that when the topcoat is used with Selemix epoxy and polyurethane primers, the system achieves up to C5M certification under ISO 12944-6, indicating a high level of corrosion protection in aggressive industrial and marine environments. 

Per PPG, the launch highlights the company’s focus on providing coating solutions that combine durability, appearance and operational efficiency for industrial customers. 

Shares of PPG are down 3.1% in the past year compared with the industry’s 2.7% growth. 

Image Source: Zacks Investment Research

PPG Zacks Rank & Key PicksPPG currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the Basic Materials space are Nucor Corporation (NUE - Free Report) , L.B. Foster Company (FSTR - Free Report)  and Albemarle Corporation (ALB - Free Report) . NUE, FSTR and ALB sport a Zacks Rank of #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for NUE’s current-year earnings stands at $14.58 per share, implying a 89.1% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in two of the trailing four quarters and missed twice, with the average surprise being 8.1%. 

The Zacks Consensus Estimate for FSTR’s current-year earnings is pegged at $1.74 per share, implying a 152.2% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in one of the trailing four quarters and missed thrice, with the average surprise being 3.62%. 

The Zacks Consensus Estimate for ALB’s current-year earnings is pegged at $12.45 per share, indicating a 1,675.9% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed once, with the average surprise being 74.5%. 

PITTSBURGH--(BUSINESS WIRE)--PPG (NYSE: PPG) today announced the publication of a white paper, Electrostatic Application of Marine Hull Coatings, detailing how this advanced application technology can help ship owners and operators improve efficiency and reduce environmental impact.

Electrostatic application is just one piece of the puzzle. Combined with advanced hull coating performance, it contributes to a more effective sustainability solution.

Share Electrostatic application works by negatively charging paint particles at the spray gun nozzle while the substrate is grounded, causing the coating to be attracted to the surface like a magnet. Compared with traditional spraying, the process improves transfer efficiency and reduces overspray, resulting in a more uniform coating application. In one case study, the EDR Antwerp shipyard reported a 40% reduction in overspray.

“Electrostatic application is a breakthrough process innovation that, combined with our chemistry innovation, delivers improved productivity and sustainability for our shipyard customers,” said Jan Willem Tegelaar, PPG global platform director, marine coatings. “It has already revolutionized the automotive and aerospace industries; building on this cross-industry expertise, we have adapted the technology and developed compatible fouling control coatings to save time and reduce waste without disrupting existing workflows for marine vessels.”

The process supports reduced waste and Scope 3 carbon lifecycle savings compared to traditional application methods, as significant reduction in paint consumption means fewer raw materials need to be extracted, manufactured or transported. These reductions are in addition to the operational carbon savings achieved by vessels coated with low-friction solutions, which can help ship owners reduce Scope 1 emissions.

“Electrostatic application is just one piece of the puzzle. Combined with advanced hull coating performance, it contributes to a more effective sustainability solution,” said Joanna van Helmond, PPG product development director, marine fouling control, Protective and Marine Coatings. “Friction caused by biofouling can account for 50% of a ship’s total drag1, leading to higher fuel consumption. By applying solutions such as PPG SIGMAGLIDE® 2390 coating electrostatically, we can create a smoother, glossier film that reduces hydrodynamic resistance. This in turn leads to lower fuel consumption and greenhouse gas (GHG) emissions.”

Topics covered in the white paper include:

The history of electrostatic spray technology and how it works. Operational advantages of electrostatic application for shipyards and owners. The role of hull coatings in supporting the International Maritime Organization (IMO) decarbonization goals and improving vessel efficiency. In addition, PPG will present its 360 degree approach to marine coatings, including low-friction hull coatings, electrostatic application and digital tools, at the Posidonia International Shipping Exhibition (Stand 3.104) under the theme Reach New Horizons of Sustainability and Performance.

The white paper is available for download here. To learn more about PPG’s Protective and Marine Coatings business, visit ppg.com/pmc.

1) Youngrong Kim, Refik Ozyurt, Underestimated penalty of hull fouling: A scenario-based analysis of GHG emissions from global shipping, Applied Ocean Research, Volume 165, 2025, https://doi.org/10.1016/j.apor.2025.104870.

PPG: WE PROTECT AND BEAUTIFY THE WORLD®

At PPG (NYSE:PPG), we work every day to develop and deliver the paints, coatings and specialty products that our customers have trusted for more than 140 years. Through dedication and creativity, we solve our customers’ biggest challenges, collaborating closely to find the right path forward. With headquarters in Pittsburgh, we operate and innovate in more than 50 countries and reported net sales of $15.9 billion in 2025. We serve customers in construction, consumer products, industrial and transportation markets and aftermarkets. To learn more, visit www.ppg.com.

The PPG Logo and We Protect and Beautify the World are registered trademarks of PPG Industries Ohio, Inc.

Sigmaglide is a registered trademark of PPG Coatings Nederland B.V.

PITTSBURGH--(BUSINESS WIRE)--PPG (NYSE:PPG) today announced the appointment of John Smith to vice president, architectural coatings, EMEA, effective July 1, 2026. He will report to Henrik Bergström, senior vice president, global architectural coatings. Smith will succeed Steve Pocock, who has announced his decision to retire effective June 30, 2026.

“With more than 25 years of international leadership experience, John brings a strong track record of driving profitable growth across consumer and B2B organizations,” said Bergström. “His deep commercial expertise, global mindset and passion for developing high-performing teams positions him well to lead our architectural coatings EMEA business into its next phase of growth.”

Most recently, Smith served as executive vice president and general manager at Signify, where he led the global connected lighting business and had responsibility across strategy, innovation, marketing, sales and operations. Prior to this role, he held senior leadership positions at Philips, where he led global and regional businesses across the consumer health, grooming and home care categories.

Pocock joined Sigma Kalon in early 2000, which was later acquired by PPG, as a national accounts controller. He progressed through a number of commercial roles of increasing responsibility before his appointment as general manager, architectural coatings, UK and Ireland, in 2010. Pocock was then appointed general manager, architectural coatings, EMEA north and China, before being named vice president, architectural coatings in 2019. He was then named to his most recent role leading the region’s architectural coatings commercial organization in 2024.

“Throughout his career, Steve has been deeply committed to building strong, high-performing and engaged teams,” said Bergström. “His relentless energy, enthusiasm and determination to win have delivered record levels of growth. He has also developed and mentored countless colleagues, leaving a lasting legacy across the organization. His presence, support and leadership will be greatly missed by all who have had the privilege of working with him.”

PPG: WE PROTECT AND BEAUTIFY THE WORLD®

At PPG (NYSE:PPG), we work every day to develop and deliver the paints, coatings and specialty products that our customers have trusted for more than 140 years. Through dedication and creativity, we solve our customers’ biggest challenges, collaborating closely to find the right path forward. With headquarters in Pittsburgh, we operate and innovate in more than 50 countries and reported net sales of $15.9 billion in 2025. We serve customers in construction, consumer products, industrial and transportation markets and aftermarkets. To learn more, visit www.ppg.com.

The PPG Logo and We protect and beautify the world are registered trademarks of PPG Industries Ohio, Inc.

Key Takeaways PPG showcased innovation-led growth in its 100-year Aerospace business.PPG highlighted a differentiated value proposition with specialized, qualified products for aviation.PPG showcased Seal Caps, ARE 3D Printed Sealants and AEROCRON electrocoat primer to boost efficiency. PPG Industries, Inc. (PPG - Free Report) recently hosted an in-depth session for the analyst community, showcasing how innovation is driving growth across its Aerospace business. The event highlighted the segment’s 100-year legacy as a leader in transparencies, coatings, and sealants for commercial aviation, military, and general aviation customers.

During the presentation, PPG emphasized its differentiated customer value proposition built on a broad range of highly specialized and qualified products and services. It also underscored innovation as its key strategic advantage that enhances product performance and improves operations. PPG’s long-term growth through strategic investments in innovation and capacity expansion was also highlighted.

Several technologies were featured during the event, including PPG PRC Seal Caps, a sealant solution designed to improve productivity and efficiency for aircraft manufacturers. The company also showcased PPG ARE 3D Printed Sealants, a technology that delivers higher precision, efficiency, and reduced waste. In addition, PPG highlighted PPG AEROCRON Electrocoat Primer, a chrome-free coating solution developed specifically for the aerospace industry.

The PPG Aerospace segment was presented as a business powered through organic growth and innovative technology offerings and customer solutions, making it a unique selection amongst the analyst community.

PPG has gained 3% over the past year compared with the industry’s 0.7% decline.

Image Source: Zacks Investment Research

PPG expects second-quarter organic sales and adjusted earnings per share to range from flat to low single-digit growth year over year. Management reaffirmed its full-year 2026 adjusted earnings guidance range of $7.70 to $8.10 per share.

The outlook assumes continued momentum from share gains and self-help actions, alongside an updated view of global economic activity, foreign exchange rates and regional mix. Management highlighted growth opportunities in aerospace, architectural coatings in Latin America, protective and marine coatings and packaging coatings, while anticipating an improvement in automotive refinish in the back half of the year, tied to customer order phasing.

PPG’s Zacks Rank & Key PicksPPG currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the Basic Materials space are CF Industries Holdings, Inc. (CF - Free Report) , Albemarle Corporation (ALB - Free Report) and Avino Silver & Gold Mines Ltd. (ASM - Free Report) .

While ALB sports a Zacks Rank #1 (Strong Buy) at present, CF and ASM carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for CF’s 2026 earnings is pegged at $17.16 per share, indicating a rise of 83.14% year over year. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 11.42%. CF’s shares have soared 14% over the past year.

The Zacks Consensus Estimate for ALB’s 2026 earnings is pinned at $12.39 per share, indicating a 1,668.35% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed once, with an average surprise of 74.5%. ALB’s shares have jumped 134.0038% over the past year.

The Zacks Consensus Estimate for ASM’s current fiscal-year earnings is pinned at 39 cents per share, indicating a 34.48% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 125%.

DENVER--(BUSINESS WIRE)--VF Corporation (NYSE: VFC) today reported financial results for its fourth quarter (Q4'26) ended March 28, 2026, and the Company's Board of Directors authorized a quarterly per share dividend of $0.09. These financial results are also reflected in a presentation available on the Investor Relations website at ir.vfc.com.

Bracken Darrell, President and CEO, said: “For the first time in three years, we returned to a full year of growth and expect to keep growing in FY'27. We also significantly expanded margins and reduced our leverage ratio by a full turn vs. LY. In the fourth quarter, we delivered our strongest revenue performance since I joined VF. Both The North Face® and Timberland® continued to deliver global growth. Vans® is starting to show momentum with a return to growth in Americas DTC for the first time in over four years. We remain on track to achieve our medium-term targets, an exit run rate of 10% operating margin in FY'28 and a leverage ratio of 2.5x or lower by FY'28. This has been a strong year for VF and I'm excited about the momentum we are building.”

Disclosed Q4’26 and FY'26 figures are shown on both reported and adjusted excluding Dickies® (“ex Dickies®”) bases

Returned to growth for the full year in FY'26 with expanding margins and reduced debt

Revenue +1% vs. LY Revenue ex Dickies® +4% vs. LY or +1% C$ Recall Dickies® was sold during Q3'26 FY'26 gross margin (GM) of 54.8%, up 130 bps vs. LY Adjusted GM ex Dickies® of 55.2%, up 110 bps vs. LY FY'26 operating income (OI) of $577M and operating margin (OM) of 6.0%, up 280 bps vs. LY Adjusted OI ex Dickies® of $650M and adjusted OM ex Dickies® of 7.0%, up 110 bps vs. LY FY'26 free cash flow1 of $405M, up over $90M vs. LY FYE'26 leverage ratio of 3.1x vs. LY of 4.1x, and vs. FYE'24 of 5.1x Q4’26 revenue growth driven by momentum in the Americas; Q4’26 OI ahead of guidance

Revenue +1% vs. LY Revenue ex Dickies® +8% vs. LY or +3% C$, ahead of guidance of flat to +2% C$ vs. LY Strongest revenue performance in three years (C$, ex Dickies®) Americas region +2% vs. LY; ex Dickies® +10% C$, the region's highest growth since Q1'23 The North Face® +12% vs. LY or +7% C$, with the Americas +17% vs. LY or +16% C$ Vans® (1%) vs. LY or (5%) C$, with a return to growth in Americas DTC Timberland® +8% vs. LY or +2% C$ Q4'26 OI of $62M Adjusted OI ex Dickies® of $54M, ahead of guidance of $10M to $30M; normalized2 OI within guidance range Reinstating annual guidance effective FY'27 with continued growth and expanding margins

Revenue +1% to +2% C$ vs. LY3 Adjusted OM of approximately 8% Free cash flow flat to up vs. LY1 of $405M FYE'27 leverage ratio of 2.6x to 2.9x 1 Excludes $100M net impact of pension termination in FY'26
2 Normalized for tariff receivable and offsetting charges, including restructuring costs
3 Revenue performance excludes Dickies® in FY'26

Webcast Information

VF management will host its fourth quarter Fiscal 2026 conference call beginning at approximately 8:00 a.m. ET today. The conference call will be broadcast live via the Internet, accessible at ir.vfc.com. For those unable to listen to the live broadcast, an archived version will be available at the same location.

Dividend Declared

VF’s Board of Directors declared a quarterly dividend of $0.09 per share. This dividend will be payable on June 18, 2026, to shareholders of record at the close of business on June 10, 2026.

About VF

VF Corporation is a portfolio of leading outdoor and active brands, including The North Face®, Vans®, and Timberland®. VF is committed to providing consumers with innovative products that are rooted in performance and elevated design, while delivering sustainable and long-term value for its employees, communities, and shareholders. For more information, please visit vfc.com.

Financial Presentation Disclosure

All per share amounts are presented on a diluted basis. This release refers to “reported” (R$) and “constant dollar” (C$) or “constant currency” amounts, terms that are described under the heading below “Constant Currency - Excluding the Impact of Foreign Currency.” Unless otherwise noted, “reported” and “constant dollar” or “constant currency” amounts are the same, and amounts will be as “reported” unless otherwise specified. This release also refers to “continuing” and “discontinued” operations amounts, which are concepts described under the heading “Discontinued Operations - Supreme.” Unless otherwise noted, results presented are based on continuing operations. This release also refers to results “excluding Dickies®” and “Adjusted excluding Dickies”, which are described under the heading “Dickies Divestiture”. This release also refers to “adjusted” amounts, a term that is described under the heading “Adjusted Amounts - Excluding Reinvent, Transaction and Deal Related Activities, Pension Settlement Charges, Pension Excise Tax and Non-cash Impairment Charge”. Unless otherwise noted, “reported” and “adjusted” amounts are the same. VF operates and reports using a 52/53 week fiscal year ending on the Saturday closest to March 31 of each year. This release refers to VF's fourth quarter of Fiscal 2026 as Q4'26, and similarly Q4'25 denotes VF's fourth quarter of Fiscal 2025, etc. VF defines “free cash flow” as cash flow from continuing operations less capital expenditures and software purchases and defines “net debt” as long-term debt, the current portion of long-term debt, short-term borrowings, and operating lease liabilities, less cash and cash equivalents per VF's consolidated balance sheet and defines “leverage” as net debt to adjusted earnings before interest, taxes, depreciation and amortization (“EBITDA”), which excludes operating lease cost. See the supplemental financial information included with this release for a calculation of adjusted EBITDA, including a reconciliation to the nearest U.S generally accepted accounting principles (“GAAP”) financial measure.

Change in Reportable Segments

VF realigned its reportable segments in the first quarter of Fiscal 2026. VF's updated reportable segments are Outdoor and Active. We have included an “All Other” category for the remaining operating segments that do not meet the quantitative threshold to be disclosed as a separate reportable segment. VF's financial results in this release reflect the new segments for all periods presented.

Dickies Divestiture

On September 15, 2025, VF entered into a definitive agreement with Bluestar Alliance LLC to sell the Dickies® brand business (“Dickies”) and on November 12, 2025, VF completed the sale of Dickies. “Reported” amounts present VF's Fiscal 2026 results in accordance with GAAP and include Dickies results in continuing operations through the date of sale, as the Dickies sale did not qualify for discontinued operations presentation under GAAP. References to results “excluding Dickies®” and “Adjusted excluding Dickies” exclude the results of Dickies for all periods presented. VF believes this non-GAAP presentation provides investors with useful information regarding VF’s current business trends and performance of VF’s operations, post the closing of the sale of Dickies.

Discontinued Operations - Supreme

On July 16, 2024, VF entered into a definitive Stock and Asset Purchase Agreement with EssilorLuxottica S.A. to sell the Supreme® brand business (“Supreme”). On October 1, 2024, VF completed the sale of Supreme. Accordingly, the company has reported the related held-for-sale assets and liabilities as assets and liabilities of discontinued operations and included the operating results and cash flows of the business in discontinued operations for all periods presented, through the date of sale.

Constant Currency - Excluding the Impact of Foreign Currency

This release refers to “reported” amounts in accordance with GAAP, which include translation and transactional impacts from foreign currency exchange rates. This release also refers to both “constant dollar” and “constant currency” amounts, which exclude the impact of translating foreign currencies into U.S. dollars. Reconciliations of GAAP measures to constant currency amounts are presented in the supplemental financial information included with this release, which identifies and quantifies all excluded items, and provides management’s view of why this information is useful to investors.

Adjusted Amounts - Excluding Reinvent, Transaction and Deal Related Activities, Pension Settlement Charges, Pension Excise Tax and Non-cash Impairment Charge

The adjusted amounts in this release exclude costs related to Reinvent, VF's transformation program. Costs, including restructuring charges and project-related costs, were approximately ($8) million in the fourth quarter of Fiscal 2026 and $44 million in Fiscal 2026.

The adjusted amounts in this release exclude transaction and deal related activities associated with the divestiture of Dickies, including expenses and the final pre-tax gain on sale. Total transaction and deal related activities included expenses of approximately $10 million in Fiscal 2026 and a final pre-tax gain on sale of approximately $127 million in Fiscal 2026, which included a reduction to the gain to reflect working capital adjustments of approximately $12 million in the three months ended March 2026.

The adjusted amounts in this release exclude non-cash pension settlement charges of approximately $158 million in the fourth quarter of Fiscal 2026 and $192 million in Fiscal 2026. The pension settlement charges related to the termination of the U.S. qualified plan, which was completed as of the end of Fiscal 2026.

The adjusted amounts in this release exclude pension excise tax of approximately $25 million in the fourth quarter of Fiscal 2026 and in Fiscal 2026, related to the termination of the U.S. qualified plan.

The adjusted amounts in this release exclude a non-cash impairment charge related to the Napapijri reporting unit goodwill of approximately $31 million in Fiscal 2026.

Combined, the above items negatively impacted earnings per share by $0.30 during the fourth quarter of Fiscal 2026 and $0.20 during Fiscal 2026. All adjusted amounts referenced herein exclude the effects of these amounts.

Reconciliations of measures calculated in accordance with GAAP to adjusted amounts are presented in the supplemental financial information included with this release, which identifies and quantifies all excluded items, and provides management’s view of why this information is useful to investors. The company does not provide a reconciliation of forward-looking measures where the company believes such a reconciliation would imply a degree of precision and certainty that could be confusing to investors and is unable to reasonably predict certain items contained in the GAAP measures without unreasonable efforts. This is due to the inherent difficulty of forecasting the timing or amount of various items that have not yet occurred and are out of the company's control or cannot be reasonably predicted. For the same reasons, the company is unable to address the probable significance of the unavailable information.

Forward-looking Statements

Certain statements included in this release are “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are made based on VF’s expectations and beliefs concerning future events impacting VF and therefore involve several risks and uncertainties. Words such as “will,” “anticipate,” “believe,” “estimate,” “expect,” “should,” and “may” and other words and terms of similar meaning or use of future dates may be used to identify forward-looking statements, however, the absence of these words or similar expressions does not mean that a statement is not forward-looking. All statements regarding VF’s plans, objectives, projections and expectations relating to VF’s operations or financial performance, and assumptions related thereto, are forward-looking statements. Forward-looking statements are not guarantees, and actual results could differ materially from those expressed or implied in the forward-looking statements. VF undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Potential risks and uncertainties that could cause the actual results of operations or financial condition of VF to differ materially from those expressed or implied by forward-looking statements include, but are not limited to: the level of consumer demand for apparel, footwear, equipment, and accessories; disruption to VF’s distribution system; changes in global economic conditions and the financial strength of VF’s consumers and customers, including as a result of current inflationary pressures; fluctuations in the price, availability and quality of raw materials and finished products, including as a result of tariffs and geopolitical conflicts; disruption and volatility in the global capital and credit markets; VF’s response to changing fashion trends, evolving consumer preferences and changing patterns of consumer behavior; VF’s ability to maintain the image and value of its brands, including through investment in brand building and product innovation; intense competition from online retailers and other direct-to-consumer business risks; increasing pressure on margins; fluctuations in sales and operating income due to the seasonal nature of its business; retail industry changes and challenges; VF's ability to execute its turnaround program, “The VF Way” operating principles, and other business priorities, including measures to grow revenue and expand margins, streamline and right-size its cost base and strengthen the balance sheet while reducing leverage; VF’s ability to successfully establish a global commercial organization, and identify and capture efficiencies in its business model; any inability of VF or third parties on which it relies to maintain the strength and security of information technology systems; the fact that VF’s facilities and systems, and those of third parties on which it relies, are frequent targets of cyberattacks of varying levels of severity, and may in the future be vulnerable to such attacks, and any inability or failure by VF or such third parties to anticipate or detect data or information security breaches or other cyberattacks, could result in data or financial loss, reputational harm, business disruption, damage to VF’s relationships with customers, consumers, employees and third parties on which it relies, litigation, regulatory investigations, enforcement actions or other negative impacts; any inability by VF or third parties on which it relies to properly collect, use, manage and secure business, consumer and employee data and comply with privacy and security regulations; VF’s ability to adopt new technologies, including artificial intelligence, in a competitive and responsible manner; foreign currency fluctuations; stability of VF’s vendors' manufacturing facilities and VF's ability to establish and maintain effective supply chain capabilities; continued use by VF’s suppliers of ethical business practices; VF’s ability to accurately forecast demand for products; actions of activist and other shareholders; VF’s ability to recruit, develop or retain key executive or employee talent or successfully transition executives; changes in the availability and cost of labor; VF’s ability to protect trademarks and other intellectual property rights; possible goodwill and other asset impairment; maintenance by VF’s licensees and distributors of the value of VF’s brands; VF’s ability to execute acquisitions and dispositions, integrate acquisitions and manage its brand portfolio; VF’s ability to execute, and realize benefits, successfully, or at all, from the completed sale of the Dickies® brand; business resiliency in response to natural or man-made economic, public health, cyber, political or environmental disruptions, including any potential effects from changes in tariffs and international trade policy, or a U.S. federal government shutdown; changes in tax laws and additional tax liabilities; legal, regulatory, political, economic, and geopolitical risks, including those related to the current conflicts in Europe, the Middle East and Asia and tensions between the U.S. and China; changes to laws and regulations; adverse or unexpected weather conditions, including any potential effects from climate change; VF’s indebtedness and its ability to obtain financing on favorable terms, if needed, could prevent VF from fulfilling its financial obligations; VF’s ability to pay and declare dividends or repurchase its stock in the future; climate risks and increased focus on environmental, social and governance issues; VF’s ability to execute on its sustainability strategy and achieve its sustainability-related targets; risks arising from the widespread outbreak of an illness or any other communicable disease, or any other public health crisis; litigation, regulatory proceedings, or any other claims asserted against VF; and tax risks associated with the spin-off of the Jeanswear business completed in 2019. More information on potential factors that could affect VF’s financial results is included from time to time in VF’s public reports filed or furnished with the U.S. Securities and Exchange Commission (SEC), including VF’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Forms 8-K.

VF CORPORATION

Supplemental Financial Information

Reconciliation of Select GAAP Measures to Non-GAAP Measures - Three and Twelve Months Ended March 2026

(Unaudited)

(In thousands, except per share amounts)

Three Months Ended March 2026

As Reported under GAAP

Reinvent (a)

Impairment, Pension Settlement Charges and Pension Excise Tax (b)

Transaction and Deal Related Activities (c)

Adjusted

Less: Adjusted Contribution from Dickies (d)

Adjusted Excluding Dickies

Revenues

$

2,166,034

$

—

$

—

$

—

$

2,166,034

$

—

$

2,166,034

Gross profit

1,221,928

—

—

—

1,221,928

—

1,221,928

Percent

56.4

%

56.4

%

56.4

%

Selling, general and administrative expenses

1,160,424

7,634

—

—

1,168,058

—

1,168,058

Percent

53.6

%

53.9

%

53.9

%

Operating income

61,504

(7,634

)

—

—

53,870

—

53,870

Percent

2.8

%

2.5

%

2.5

%

Diluted loss per share from continuing operations (e)

(0.30

)

(0.01

)

0.29

0.03

0.00

0.00

0.00

Twelve Months Ended March 2026

As Reported under GAAP

Reinvent (a)

Impairment, Pension Settlement Charges and Pension Excise Tax (b)

Transaction and Deal Related Activities (c)

Adjusted

Less: Adjusted Contribution from Dickies (d)

Adjusted Excluding Dickies

Revenues

$

9,605,207

$

—

$

—

$

—

$

9,605,207

$

309,255

$

9,295,952

Gross profit

5,261,715

4,257

—

—

5,265,972

136,662

5,129,310

Percent

54.8

%

54.8

%

55.2

%

Selling, general and administrative expenses

4,654,430

(39,473

)

—

(10,194

)

4,604,763

125,428

4,479,335

Percent

48.5

%

47.9

%

48.2

%

Operating income

576,569

43,730

30,716

10,194

661,209

11,235

649,974

Percent

6.0

%

6.9

%

7.0

%

Diluted earnings per share from continuing operations (e)

0.64

0.08

0.43

(0.32

)

0.84

0.02

0.82

Notes:

(a) Costs related to Reinvent, VF's transformation program, including restructuring charges and project-related costs, were ($7.6) million and $43.7 million in the three and twelve months ended March 2026, respectively. These costs related primarily to severance and employee-related benefits and expenses related to the engagement of a consulting firm to support VF's transformation journey. VF entered into a contract with a consulting firm during the second quarter of Fiscal 2025, with services under the contract substantially completed in the third quarter of Fiscal 2026. In addition to payment for services, the contract includes contingent fees tied to increases in VF's stock price through June 2027. Expenses related to the contract, including contingent fees, were ($4.1) million and $21.2 million in the three and twelve months ended March 2026, respectively. Reinvent resulted in a net tax expense of $1.8 million and a net tax benefit of $10.0 million in the three and twelve months ended March 2026, respectively.

The Company incurred $205.0 million in total restructuring charges in connection with Reinvent. Substantially all restructuring actions were completed at the end of the first quarter of Fiscal 2026. Total fees associated with the contract with the consulting firm could be up to $146.0 million, with $75.0 million of the fees contingent on increases to VF’s stock price through June 2027.

(b) VF recognized a non-cash impairment charge related to the Napapijri reporting unit goodwill of $30.7 million during the twelve months ended March 2026.

Non-cash pension settlement charges of $158.1 million and $192.1 million were recorded in the other income (expense), net line item during the three and twelve months ended March 2026, respectively, related to the termination of the U.S. qualified plan, which was completed as of the end of Fiscal 2026.

Pension excise tax of $25.1 million was recorded in the other income (expense), net line item during the three and twelve months ended March 2026, related to the termination of the U.S. qualified plan.

The impairment, pension settlement charges and pension excise tax resulted in a net tax benefit of $68.9 million and $78.3 million in the three and twelve months ended March 2026, respectively.

(c) Transaction and deal related activities include costs associated with the divestiture of Dickies, which totaled $10.2 million for the twelve months ended March 2026. Additionally, the activities include a working capital adjustment of $11.9 million as a reduction to the pre-tax gain on sale related to the divestiture of Dickies and a $127.2 million final pre-tax gain on sale related to Dickies, which were recorded in the other income (expense), net line item in the Consolidated Statements of Operations in the three and twelve months ended March 2026, respectively. The transaction and deal related activities resulted in a net tax benefit of $1.8 million and $7.7 million in the three and twelve months ended March 2026, respectively.

(d) The “Adjusted Contribution from Dickies” column represents the operating results of Dickies for the twelve months ended March 2026 on an adjusted basis. This column excludes transaction and deal related costs as described above. The adjusted contribution from Dickies resulted in a net tax expense of $3.3 million for the twelve months ended March 2026.

(e) Amounts shown in the table have been calculated using unrounded numbers. The diluted earnings (loss) per share impacts were calculated using 391,371,000 and 395,875,000 weighted average common shares for the three and twelve months ended March 2026, respectively.

Non-GAAP Financial Information

The financial information above has been presented on a GAAP basis, on an adjusted basis, which excludes the impact of Reinvent, an impairment charge, pension settlement charges, pension excise tax, and transaction and deal related activities, and on an adjusted basis excluding Dickies, which also excludes the operating results of Dickies on an adjusted basis. These adjusted presentations provides non-GAAP measures and are not based on any comprehensive set of accounting rules or principles. Management believes these measures provide investors with useful supplemental information regarding VF's underlying business trends and the performance of VF's ongoing operations and are useful for period-over-period comparisons of such operations.

Management uses the above financial measures internally in its budgeting and review process and, in some cases, as a factor in determining compensation. While management believes that these non-GAAP financial measures are useful in evaluating the business, this information should be considered as supplemental in nature and should be viewed in addition to, and not in lieu of or superior to, VF's operating performance measures calculated in accordance with GAAP. In addition, these non-GAAP financial measures may not be the same as similarly titled measures presented by other companies. These measures should be used to evaluate the Company's results of operations only in conjunction with the corresponding GAAP measures.

VF CORPORATION

Supplemental Financial Information

Reconciliation of Select GAAP Measures to Non-GAAP Measures - Twelve Months Ended March 2026

(Unaudited)

(In thousands, except per share amounts)

Twelve Months Ended March 2026

Operating income - as reported under GAAP

$

576,569

Adjustments to operating income:

Reinvent (a)

43,730

Impairment charge (b)

30,716

Transaction and deal related activities (c)

10,194

Adjusted operating income

661,209

Other income (expense), net - as reported under GAAP

(86,608

)

Adjustments to other income (expense), net:

Reinvent (d)

(531

)

Pension settlement charges and pension excise tax (e)

217,156

Transaction and deal related activities (f)

(127,211

)

Adjusted other income (expense), net

2,806

Depreciation, amortization and other asset write-downs - as reported

280,529

Adjustments to depreciation, amortization and other asset write-downs:

Reinvent (g)

(2,837

)

Transaction and deal related activities (h)

(10,079

)

Adjusted depreciation, amortization and other asset write-downs

267,613

Operating lease cost

411,339

Adjusted EBITDA

$

1,342,967

Notes:

(a) Costs related to Reinvent, VF's transformation program, including restructuring charges and project-related costs, which totaled $43.7 million. These costs related primarily to severance and employee-related benefits and expenses related to the engagement of a consulting firm to support VF's transformation journey.

(b) Non-cash impairment charge related to the Napapijri reporting unit goodwill of $30.7 million.

(c) Transaction and deal related activities include costs associated with the divestiture of Dickies, which totaled $10.2 million.

(d) Curtailment gains of $0.5 million, related to Reinvent, recorded within the other income (expense), net line item related to employee exits from an international plan resulting from restructuring actions.

(e) Non-cash pension settlement charges of $192.1 million and pension excise tax of $25.1 million were recorded in the other income (expense), net line item related to the termination of the U.S. qualified plan, which was completed as of the end of Fiscal 2026.

(f) Transaction and deal related activities include the final pre-tax gain related to the divestiture of Dickies of $127.2 million, which was recorded in the other income (expense), net line item.

(g) Asset impairments and write-downs of $2.8 million related to Reinvent.

(h) Asset impairments and write-downs of $10.1 million associated with the divestiture of Dickies.

Non-GAAP Financial Information

The financial information above has been presented on a GAAP basis and on an adjusted basis, which excludes the impact of Reinvent, an impairment charge, pension settlement charges, pension excise tax, transaction and deal related activities, depreciation, amortization and other asset write-downs, and operating lease cost. The adjusted presentation and adjusted EBITDA provide non-GAAP measures. Management uses these measures in calculating VF’s net debt leverage ratio, which is a key ratio used by management, investors and rating agencies to assess our ability to meet our debt obligations.

While management believes these non-GAAP financial measures are useful for the above purpose, this information should be considered as supplemental in nature and should be viewed in addition to, and not in lieu of or superior to, VF's operating performance measures calculated in accordance with GAAP. In addition, these non-GAAP financial measures may not be the same as similarly titled measures presented by other companies.

Three Months Ended March 2025

As Reported

under GAAP

Reinvent (a)

Impairment Charges (b)

Transaction and Deal Related Activities (c)

Adjusted

Less: Adjusted Contribution from Dickies (d)

Adjusted Excluding Dickies

Revenues

$ 2,143,771

$ —

$ —

$ —

$ 2,143,771

$ 139,272

$ 2,004,499

Gross profit

1,142,456

1,560

—

—

1,144,016

60,741

1,083,275

Percent

53.3%

53.4%

54.0%

Selling, general and administrative expenses

1,177,101

(54,674)

—

—

1,122,427

55,134

1,067,293

Percent

54.9%

52.4%

53.2%

Operating income (loss)

(72,887)

56,234

38,242

—

21,589

5,607

15,982

Percent

(3.4%)

1.0%

0.8%

Diluted earnings (loss) per share from continuing operations (e)

(0.39)

0.16

0.10

0.00

(0.13)

0.01

(0.14)

Twelve Months Ended March 2025

As Reported

under GAAP

Reinvent (a)

Impairment Charges (b)

Transaction and Deal Related Activities (c)

Adjusted

Less: Adjusted Contribution from Dickies (d)

Adjusted Excluding Dickies

Revenues

$ 9,504,691

$ —

$ —

$ —

$ 9,504,691

$ 542,065

$ 8,962,626

Gross profit

5,083,865

1,972

—

—

5,085,837

233,467

4,852,370

Percent

53.5%

53.5%

54.1%

Selling, general and administrative expenses

4,690,850

(160,672)

—

(490)

4,529,688

206,738

4,322,950

Percent

49.4%

47.7%

48.2%

Operating income

303,773

162,644

89,242

490

556,149

26,730

529,419

Percent

3.2%

5.9%

5.9%

Diluted earnings per share from continuing operations (e)

0.18

0.36

0.20

0.00

0.74

0.06

0.67

Notes:

(a) Costs related to Reinvent, VF's transformation program, including restructuring charges and project-related costs, were $56.2 million and $162.6 million in the three and twelve months ended March 2025, respectively. These costs related primarily to severance and employee-related benefits and expenses related to the engagement of a consulting firm to support VF's transformation journey. VF entered into a contract with a consulting firm during the second quarter of Fiscal 2025, with services under the contract substantially completed in the third quarter of Fiscal 2026. In addition to payment for services, the contract includes contingent fees tied to increases in VF's stock price through June 2027. Expenses related to the contract, including contingent fees, were $16.4 million and $76.4 million in the three and twelve months ended March 2025, respectively. Reinvent resulted in a net tax expense of $5.5 million and a net tax benefit of $21.2 million in the three and twelve months ended March 2025, respectively.

(b) VF recognized a non-cash goodwill impairment charge related to the Icebreaker reporting unit of $38.2 million during the three months ended March 2025. During the twelve months ended March 2025, VF recognized non-cash impairment charges related to the Dickies indefinite-lived trademark intangible asset and Icebreaker reporting unit goodwill of $51.0 million and $38.2 million, respectively. The impairment charges resulted in a net tax benefit of $10.5 million in the twelve months ended March 2025. Because Dickies is not considered a discontinued operation, the impairment is considered an adjustment to derive the Adjusted non-GAAP measure.

(c) Transaction and deal related activities reflect activities associated with the review of strategic alternatives for the Global Packs business, consisting of the Kipling®, Eastpak® and JanSport® brands, which totaled $0.5 million for the twelve months ended March 2025. The transaction and deal related activities resulted in a net tax benefit of $0.1 million in the twelve months ended March 2025.

(d) The “Adjusted Contribution from Dickies” column represents the operating results of Dickies for the three and twelve months ended March 2025 on an adjusted basis. This column excludes a non-cash impairment charge as described above. The adjusted contribution from Dickies resulted in a net tax expense of $1.5 million and $5.6 million for the three and twelve months ended March 2025, respectively.

(e) Amounts shown in the table have been calculated using unrounded numbers. The diluted earnings (loss) per share impacts were calculated using 389,605,000 and 392,571,000 weighted average common shares for the three and twelve months ended March 2025, respectively.

Non-GAAP Financial Information

The financial information above has been presented on a GAAP basis, on an adjusted basis, which excludes the impact of Reinvent, impairment charges and transaction and deal related activities, and on an adjusted basis excluding Dickies, which also excludes the operating results of Dickies on an adjusted basis. These adjusted presentations provides non-GAAP measures and are not based on any comprehensive set of accounting rules or principles. Management believes these measures provide investors with useful supplemental information regarding VF's underlying business trends and the performance of VF's ongoing operations and are useful for period-over-period comparisons of such operations.

Management uses the above financial measures internally in its budgeting and review process and, in some cases, as a factor in determining compensation. While management believes that these non-GAAP financial measures are useful in evaluating the business, this information should be considered as supplemental in nature and should be viewed in addition to, and not in lieu of or superior to, VF's operating performance measures calculated in accordance with GAAP. In addition, these non-GAAP financial measures may not be the same as similarly titled measures presented by other companies. These measures should be used to evaluate the Company's results of operations only in conjunction with the corresponding GAAP measures.

VF CORPORATION

Supplemental Financial Information

Reportable Segment Information - Constant Currency Basis

(Unaudited)

(In thousands, except per share amounts)

Three Months Ended March 2026

As Reported
under GAAP

Adjust for Foreign

Currency Exchange

Constant Currency

Revenues:

Outdoor segment

$

1,339,839

$

(66,250

)

$

1,273,589

Active segment

588,695

(25,342

)

563,353

All Other

237,500

(12,059

)

225,441

Total revenues

$

2,166,034

$

(103,651

)

$

2,062,383

Segment profit (loss):

Outdoor segment

$

175,004

$

(11,158

)

$

163,846

Active segment

(14,921

)

(2,096

)

(17,017

)

Total segment profit

160,083

(13,254

)

146,829

Corporate and other expenses (a)

(321,613

)

1,077

(320,536

)

Interest expense, net

(26,803

)

(825

)

(27,628

)

“All Other” profit

25,004

(1,232

)

23,772

Loss from continuing operations before income taxes

$

(163,329

)

$

(14,234

)

$

(177,563

)

Diluted net loss per share change from continuing operations

21

%

(8

%)

13

%

(a) A reduction to the gain on the sale of Dickies to reflect final working capital adjustments of $11.9 million was recorded in the other income (expense), net line item in the Consolidated Statement of Operations for the three months ended March 2026. In addition, pension settlement charges of $158.1 million and excise taxes of $25.1 million related to the termination of the U.S. qualified plan were recorded in the other income (expense), net line item in the Consolidated Statement of Operations for the three months ended March 2026.

Constant Currency Financial Information

VF is a global company that reports financial information in U.S. dollars in accordance with GAAP. Foreign currency exchange rate fluctuations affect the amounts reported by VF from translating its foreign revenues and expenses into U.S. dollars. These rate fluctuations can have a significant effect on reported operating results. As a supplement to our reported operating results, we present constant currency financial information, which is a non-GAAP financial measure that excludes the impact of translating foreign currencies into U.S. dollars. We use constant currency information to provide a framework to assess how our business performed excluding the effects of changes in the rates used to calculate foreign currency translation. Management believes this information is useful to investors to facilitate comparison of operating results and better identify trends in our businesses.

To calculate foreign currency translation on a constant currency basis, operating results for the current year period for entities reporting in currencies other than the U.S. dollar are translated into U.S. dollars at the average exchange rates in effect during the comparable period of the prior year (rather than the actual exchange rates in effect during the current year period).

These constant currency performance measures should be viewed in addition to, and not in lieu of or superior to, our operating performance measures calculated in accordance with GAAP. The constant currency information presented may not be comparable to similarly titled measures reported by other companies.

VF CORPORATION

Supplemental Financial Information

Reportable Segment Information - Constant Currency Basis

(Unaudited)

(In thousands, except per share amounts)

Twelve Months Ended March 2026

As Reported
under GAAP

Adjust for Foreign
Currency Exchange

Constant Currency

Revenues:

Outdoor segment

$

5,741,792

$

(169,273

)

$

5,572,519

Active segment

2,720,967

(66,627

)

2,654,340

All Other

1,142,448

(30,554

)

1,111,894

Total revenues

$

9,605,207

$

(266,454

)

$

9,338,753

Segment profit:

Outdoor segment

$

841,200

$

(29,973

)

$

811,227

Active segment

103,043

(8,354

)

94,689

Total segment profit

944,243

(38,327

)

905,916

Impairment of goodwill

(30,716

)

—

(30,716

)

Corporate and other expenses (a)

(511,815

)

2,094

(509,721

)

Interest expense, net

(148,743

)

(2,298

)

(151,041

)

“All Other” profit

88,249

(3,335

)

84,914

Income from continuing operations before income taxes

$

341,218

$

(41,866

)

$

299,352

Diluted earnings per share change from continuing operations

265

%

(52

%)

213

%

(a) A final pre-tax gain on the sale of Dickies of $127.2 million was recorded in the other income (expense), net line item in the Consolidated Statement of Operations for the twelve months ended March 2026. In addition, pension settlement charges of $192.1 million and excise taxes of $25.1 million related to the termination of the U.S. qualified plan were recorded in the other income (expense), net line item in the Consolidated Statement of Operations for the twelve months ended March 2026.

Constant Currency Financial Information

VF is a global company that reports financial information in U.S. dollars in accordance with GAAP. Foreign currency exchange rate fluctuations affect the amounts reported by VF from translating its foreign revenues and expenses into U.S. dollars. These rate fluctuations can have a significant effect on reported operating results. As a supplement to our reported operating results, we present constant currency financial information, which is a non-GAAP financial measure that excludes the impact of translating foreign currencies into U.S. dollars. We use constant currency information to provide a framework to assess how our business performed excluding the effects of changes in the rates used to calculate foreign currency translation. Management believes this information is useful to investors to facilitate comparison of operating results and better identify trends in our businesses.

To calculate foreign currency translation on a constant currency basis, operating results for the current year period for entities reporting in currencies other than the U.S. dollar are translated into U.S. dollars at the average exchange rates in effect during the comparable period of the prior year (rather than the actual exchange rates in effect during the current year period).

These constant currency performance measures should be viewed in addition to, and not in lieu of or superior to, our operating performance measures calculated in accordance with GAAP. The constant currency information presented may not be comparable to similarly titled measures reported by other companies.

V.F. (VFC - Free Report) reported break-even quarterly earnings per share versus the Zacks Consensus Estimate of a loss of $0.02. This compares to a loss of $0.13 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +100.00%. A quarter ago, it was expected that this maker of brands such as Vans, North Face and Timberland would post earnings of $0.43 per share when it actually produced earnings of $0.58, delivering a surprise of +34.88%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

V.F., which belongs to the Zacks Textile - Apparel industry, posted revenues of $2.17 billion for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 1.77%. This compares to year-ago revenues of $2.14 billion. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

V.F. shares have lost about 7.4% since the beginning of the year versus the S&P 500's gain of 7.4%.

What's Next for V.F.?While V.F. has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for V.F. was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #1 (Strong Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.17 on $1.72 billion in revenues for the coming quarter and $1.14 on $9.55 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Textile - Apparel is currently in the top 37% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

One other stock from the same industry, Vince Holding Corp. (VNCE - Free Report) , is yet to report results for the quarter ended April 2026.

This company is expected to post quarterly loss of $0.19 per share in its upcoming report, which represents a year-over-year change of +48.7%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Vince Holding Corp.'s revenues are expected to be $63.05 million, up 8.8% from the year-ago quarter.

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Key Takeaways Pre-Markets Up After Tuesday's Light SellingTarget, Lowe's & TJX All Beat on Q1 EarningsNVIDIA Expected to Have Grown 118% on Earnings in Q1 Wednesday, May 20th, 2026

Pre-market futures are up this morning, filling in some holes from Tuesday’s session that closed in the red. Major indexes are fighting back to all-time-high levels (on the S&P 500 and Nasdaq) last week, but are still working off the slide ahead of Monday’s open. The Dow is up +181 points, the S&P 500 is +29, the Nasdaq is +209 points and small-cap Russell 2000 is +17 at this hour.

Meanwhile, spot oil prices have relaxed from yesterday, $101 per barrel (/bbl) on WTI and $108/bbl on Brent crude, even as Iran ratchets up its war rhetoric this morning. Iran has reportedly permitted the transit of three dozen ships over the past day out of the Strait of Hormuz, but it’s unclear whether these ships are also passing the U.S. blockade at the Gulf of Oman. Gasoline here at home continues to climb in price per gallon: $4.56 nationwide, up +43% year over year.

Big Morning for Retail Earnings: TGT, LOW, TJX & More
Target (TGT - Free Report) posted impressive Q1 results this morning, beating earnings estimates by 30 cents per share — $1.71, for a +21.4% positive earnings surprise — on $25.44 billion in revenues, up +4% from expectations. The department store major saw its strongest comps in four years. However, the future looks somewhat muted, as higher gasoline prices are already having an impact on its middle-class shopper. For more on TGT’s earnings, click here.

Home improvement center Lowe’s (LOW - Free Report) also outperformed expectations in its Q1 report this morning, with earnings of $3.03 per share +2.4% higher than the Zacks consensus and revenues of $23.08 billion narrowly surpassing projections by +0.62%, but up nicely from the $20.93 billion in the year-ago quarter. Zacks Strategist Bryan Hayes gives his take on LOW’s earnings here.

The TJX Companies (TJX - Free Report) — parent of T.J. Maxx, Marshall’s and Home Goods, and with a market cap well over 2x that of Target’s — posted a strong +18% earnings beat to $1.19 per share ($0.92 reported a year ago) on revenues of $14.32 billion outpacing expectations by +2.3%. Shares are up +3.7% on the news, pushing the stock into positive territory year to date. For more on TJX’s earnings, click here.

Vans, Timberland and The North Face parent V.F. Corp. (VFC - Free Report) is also out with quarterly results ahead of today’s open. Flat earnings for fiscal Q4 beat expectations of -$0.02 (and the year-ago loss per share of -$0.13) on $2.17 billion in revenues, +1.77% higher than estimates. Shares had been up on the news, but are sliding ahead of the open. For more on VFC’s earnings, click here.

NVIDIA Reports After the Close Today
It’s the Big Kahuna of yet-to-report earnings results — even bigger than Walmart (WMT - Free Report) on Thursday morning: NVIDIA (NVDA - Free Report) , the chip giant that has positioned itself perfectly for the boom in AI infrastructure investment. Expectations are typically awesome: +118.5% earnings growth on +78.7% growth in revenues from a year ago. NVIDIA has also outperformed estimates in each of the past three quarters.

Questions or comments about this article and/or author? Click here>>

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Published in consumer-discretionary consumer-staples e-commerce earnings retail

4 Cold-Weather Stocks to Buy as Winter Spending Heats UpV.F. NYSE: VFC executives said the apparel and footwear company ended fiscal 2026 with improving sales trends, wider margins and lower leverage, while reinstating annual guidance for fiscal 2027.

President and CEO Bracken Darrell said the company “finished this year strong” and exceeded its fourth-quarter guidance. He said VF returned to full-year sales growth for the first time in three years and that 70% of the company’s portfolio is now growing, compared with 43% in fiscal 2024 when including Dickies.

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3 Retail Stocks That Desperately Need a Tariff Break“Our portfolio is getting healthier,” Darrell said, adding that operating margin expanded to 7% in fiscal 2026, up 220 basis points from fiscal 2024. He also pointed to balance-sheet progress, saying net debt excluding lease liabilities fell from $5.8 billion to $2.7 billion over three years, while leverage declined from 5.1 times to 2 times on that basis.

Fourth-Quarter Sales Beat Expectations EVP and CFO Paul Vogel said fourth-quarter revenue was $2.2 billion, up 3% from a year earlier and above the company’s guidance for flat to 2% growth. He said wholesale demand, led by The North Face, helped drive the stronger-than-expected performance.

3 Stocks Gaining Traction in Their Turnaround StoriesBy brand, The North Face revenue rose 7%, led by double-digit growth in the Americas. Vans declined 5%, in line with expectations, including about a 2-point benefit from earlier wholesale orders. Timberland rose 2%, marking its sixth consecutive quarter of growth.

By region, the Americas grew 10% in the quarter and 3% for the full year. EMEA declined 5% as the company navigated regional macroeconomic headwinds, while APAC rose 1% on demand across The North Face and Timberland. Direct-to-consumer sales rose 2%, and wholesale increased 3%.

Gross margin in the quarter rose 240 basis points to 56.4%, helped by a roughly $50 million net benefit tied to tariff receivables and offsetting charges following a Supreme Court ruling related to certain tariff refunds. Vogel said normalized gross margin was roughly flat from a year earlier. Adjusted earnings per share were $0, compared with a loss of $0.14 in the prior-year quarter.

Vans Shows DTC Improvement in the Americas Darrell said Vans remains a key focus of the turnaround. While global Vans revenue was down 5% in the fourth quarter, he said Americas direct-to-consumer sales grew 5%, with the region representing more than half of the total Vans business.

“This is where we said the recovery would start,” Darrell said, adding that Americas DTC momentum should eventually show up in other parts of the business. He said Vans’ e-commerce business in the Americas returned to growth in the third quarter and that product newness is building across the assortment.

Darrell highlighted strong consumer response to Pearlized product drops and said the Authentic silhouette grew 80% from a year earlier. Slip-Ons and apparel also returned to growth in the quarter. He said Vans is using a social-first, culture-led marketing strategy, including its Off The Wall campaign anchored around the Authentic.

During the question-and-answer session, Darrell said wholesale sell-through is not yet as strong as DTC because of channel mix and the company’s ability to drive traffic to its own digital platforms. He said DTC performance is a “good harbinger” for wholesale as products roll through the broader network over time.

The North Face, Timberland and Altra Continue Growth The North Face grew 7% in the quarter, with Darrell citing broad-based category growth and a 16% increase in the Americas. He said softshells and fleece were key drivers in apparel, while footwear delivered its fifth consecutive quarter of double-digit growth.

Darrell also noted The North Face’s newly announced multi-year strategic partnership with the U.S. Ski & Snowboard Team. Under the agreement, The North Face will serve as exclusive performance apparel sponsor for athletes at major events, including World Cup events and the Winter Olympic Games, through at least 2034.

Timberland grew 2% in the quarter. Darrell said direct-to-consumer sales increased 8%, helped by full-price stores, while wholesale was slightly lower because of reduced distressed sales. He said the six-inch premium boot remains a key driver and that boat shoes are growing across all regions.

Altra posted 45% revenue growth in the quarter, its fifth consecutive quarter of double-digit growth, and grew more than 30% for the full year, with revenue surpassing $270 million. Darrell said Altra has a differentiated product in a large addressable market and “can be a billion-dollar-plus brand over time.”

Cost Discipline and Margin Targets Remain Central EVP and COO Abhishek Dalmia said VF is two years into a four-year transformation plan focused on gross margin expansion, SG&A control and top-line growth. He said gross margin improved from 51.6% in fiscal 2024, including Dickies, to 55.2% in fiscal 2026. About 100 basis points came from the Dickies divestiture, while the rest came from product mix, targeted pricing, markdown improvements and other operational work.

Dalmia said VF has removed more than $225 million of sustained SG&A savings since fiscal 2024, excluding Dickies, through organizational simplification, DTC and distribution efficiencies, and digital and technology optimization. He said the company is also investing in product development and marketing, with more spending shifted toward media that directly reaches consumers.

Vogel said inventories declined 11% in constant currency, and inventory days were down year over year. Net debt was down approximately $800 million from last year, or 16%, following repayment of a €500 million maturity. Year-end leverage improved to 3.1 times, down one full turn from last year.

Fiscal 2027 Guidance Reinstated For fiscal 2027, VF expects constant-dollar revenue growth of 1% to 2% and operating margin of approximately 8%. Vogel said the guidance includes expected growth at The North Face, Timberland and Altra, while Vans is expected to decline in the mid-single digits, an improvement from an 11% decline in fiscal 2026 and a 15% decline in fiscal 2025.

The company expects first-quarter revenue to decline in the low single digits and anticipates an operating loss of about $100 million, roughly $40 million worse than the prior year. Vogel said the first quarter is a small period for the company and that the outlook reflects investment in Altra and DTC, as well as wholesale timing shifts.

VF expects the Middle East conflict to reduce fiscal 2027 revenue by about 100 basis points, while a 53rd week is expected to add about 0.5 percentage point to growth. Vogel said the company is assuming tariffs return at the end of July and expects a potential $70 million to $80 million negative gross-margin impact, though management said mitigation actions are expected to offset nearly all of that in fiscal 2027.

Free cash flow is expected to be flat to up versus fiscal 2026 when excluding the $100 million cash benefit from pension termination activity. VF also expects year-end leverage between 2.6 times and 2.9 times, with a medium-term goal of 2.5 times or less by fiscal 2028.

Darrell clarified that VF’s operating margin target is an exit run rate of 10% in fiscal 2028, rather than a full-year fiscal 2028 margin. “The conversation inside this company has shifted from turnaround to growth,” Dalmia said.

About V.F. NYSE: VFCVF Corporation, commonly branded as VF, is a global apparel and footwear company that develops, markets and distributes a diverse portfolio of consumer brands. Its offerings span outdoor and action sports apparel, footwear and accessories under marquee names such as The North Face, Vans, Timberland, Dickies, JanSport and Smartwool. Through a “house of brands” strategy, VF leverages the unique heritage and design expertise of each label to serve distinct lifestyle and performance segments.

Founded in 1899 in Pennsylvania as the Reading Glove and Mitten Manufacturing Company, VF evolved through a series of acquisitions and strategic expansions to become a leading player in the global apparel industry.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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V.F. Corporation (VFC) Q4 2026 Earnings Call Transcript

On May 22, 2026, VF Corp VFC shares rose 3.2% to a current price of $16.70. This price movement comes amid a 52-week trading range of $11.06 to $22.27, highlighting significant volatility over the past year.

GF Value™ verdict: Current price of $16.70 is 5.7% overvalued compared to a GF Value™ estimate of $15.80.GF Score™: 72/100, indicating an above-average potential for long-term returns.Most notable signal: Momentum Rank of 10/10, suggesting strong recent price performance. Is VFC Overvalued or Undervalued? The current price of VF Corp VFC at $16.70 is slightly above the GF Value™ estimate of $15.80, making the stock 5.7% overvalued. This valuation indicates a lack of margin of safety for new investors, as the stock is priced higher than its intrinsic value according to GuruFocus' assessment. The GF Valuation label categorizes VFC as fairly valued, but the overvaluation signals potential risks if the company's performance does not meet market expectations. GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates.

Investors may need to exercise caution, as overvalued stocks can be more susceptible to price corrections. While VFC has shown solid performance over the past year with a 40.5% increase, its recent decline of 22.5% over the past month suggests heightened volatility and uncertainty surrounding its future performance.

How Does VFC's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 26.5x 28.6x Forward P/E 15.6x N/A VFC's current P/E (TTM) of 26.5x is below its 5-year median P/E of 28.6x, indicating that the stock is trading at a discount relative to its historical valuation. The forward P/E of 15.6x suggests potential for improved earnings, which may further support the stock price. However, this P/E analysis aligns with the GF Value™ verdict of being slightly overvalued, suggesting that while the stock may be historically cheaper, current market conditions may not justify a higher price.

What Does VFC's GF Score™ Tell Us? Metric Rating GF Score™ 72 Financial Strength 5/10 Profitability 6/10 Growth 3/10 Valuation 7/10 Momentum 10/10 The GF Score™ of 72/100 indicates that VF Corp ranks above average compared to its peers. The strongest area is its Momentum rank, which is at the maximum of 10/10, reflecting recent strong price performance. However, the Growth rank of 3/10 is concerning, as it indicates challenges in expanding its business. Financial Strength at 5/10 suggests a moderate ability to meet obligations, while Valuation at 7/10 indicates a reasonable price relative to its financial performance.

What Are Insiders Doing with VFC Stock? There have been no insider transactions in the last three months for VF Corp VFC . This lack of activity may suggest that insiders are not making significant moves in response to the current market conditions, which could be interpreted as a sign of uncertainty or a wait-and-see approach. Investors often look for insider buying as a bullish signal, so the absence of transactions may not be positive.

What This Means for Investors Based on the GF Value™ assessment, VF Corp VFC is currently overvalued at $16.70 relative to its estimated fair value of $15.80. While the company shows strong momentum and an above-average GF Score™, the lack of insider activity and the recent decline in stock price suggest that investors should proceed with caution.

For the complete analysis, visit the VF Corp VFC stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.

Frequently Asked Questions What is VFC's GF Score™?

VFC's GF Score™ is 72/100, indicating it ranks above average, suggesting potential for higher long-term returns.

Is VFC overvalued or undervalued?

VFC is currently overvalued, with a GF Value™ estimate of $15.80 compared to its market price of $16.70.

What is VFC's P/E ratio?

VFC's P/E (TTM) is 26.5x, which is below its 5-year median of 28.6x, indicating it is trading at a discount relative to its historical valuation.

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.

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Value ScoreValue investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.

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Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.

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Stock to Watch: V.F. (VFC - Free Report) Based in Greensboro, NC, V.F. Corporation designs, manufactures and markets branded apparel and related products in the United States and internationally. Its product line consists of denim and casual tops, bottoms, backpacks, book bags, luggage, outdoor gear, skateboard-inspired footwear and apparel, surf-inspired footwear and apparel, women’s lingerie, occupational apparel, licensed sports apparel, athletic apparel and fashion sportswear. The company markets its products through specialty stores, department stores, national chains and mass merchants along with licensees and distributors.

VFC is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.

It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 14.87; value investors should take notice.

For fiscal 2027, four analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.03 to $1.12 per share. VFC boasts an average earnings surprise of +47.5%.

With a solid Zacks Rank and top-tier Value and VGM Style Scores, VFC should be on investors' short list.

Key Takeaways lululemon's Power of Three X2 targets product innovation, guest experience and global expansion.LULU says Mainland China trends are strong, aided by the Chinese New Year shift into the quarter.lululemon flags soft North America demand and heavier markdowns, tariffs and SG&A spending, squeezing margins. lululemon athletica inc. (LULU - Free Report) is likely to witness a bottom-line decline when it reports first-quarter fiscal 2026 results on Jun. 4, after market close. The Zacks Consensus Estimate for fiscal first-quarter revenues is pegged at $2.4 billion, indicating 2.6% growth from the year-ago quarter's reported figure.

The consensus estimate for the company's fiscal first-quarter earnings is pegged at $1.67 per share, suggesting a 35.8% decline from the year-ago quarter’s actual. Earnings estimates have moved down by a penny in the past seven days.

The Vancouver-based company has been reporting steady earnings outcomes, as evident from its bottom-line surprise trends in the past several quarters. lululemon has a trailing four-quarter earnings surprise of 7.9%, on average. Given its positive record, the question is, can LULU maintain the momentum?

Earnings WhispersOur proven model does not conclusively predict an earnings beat for LULU this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the case here. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.

lululemon has an Earnings ESP of -6.40% and a Zacks Rank #3. You can see the complete list of today's Zacks #1 Rank stocks here.

Key Insights on Trends to Define LULU’s Q1 Resultslululemon continues to benefit from the progress with its Power of Three X2 growth strategy. The plan focuses on three key growth drivers — product innovation, guest experience and market expansion. LULU is expected to deliver solid revenue growth in the fiscal first quarter through product innovation, enhanced guest experience and aggressive international expansion under the plan.

International markets, led by Mainland China, continue to post outsized growth, while the men’s category is gaining share. Digital investments are strengthening the omnichannel ecosystem and disciplined store expansion is supporting brand visibility. On the last reported quarter’s earnings call, the company noted that trends in Mainland China have been strong in the first quarter of fiscal 2026, driven by a shift of the Chinese New Year into the quarter.

On the last reported quarter’s earnings call, the company continued to make steady progress in executing its action plan, with a clear emphasis on improving the sales quality in North America by driving a higher mix of full-price transactions. The company noted that early signs of traction are encouraging, supported by product launches and a series of recent brand activations that are helping to re-energize consumer engagement.

For the first quarter of fiscal 2026, management anticipates net revenues of $2.4-$2.43 billion, indicating 1-3% year-over-year growth. Revenues for China Mainland are likely to increase 25-30% and the Rest of World is expected to rise in the mid-teens. EPS for the fiscal first quarter is expected to be $1.63-$1.68, whereas it reported EPS of $2.60 in the prior-year quarter. Our model predicts revenues for the China Mainland business to increase 25% year over year for the first quarter of fiscal 2026.

However, LULU faces near-term pressure from soft North America demand and significant margin contraction. Higher markdowns, tariffs and SG&A investments weighed on profitability, while cautious guidance signals slower growth and continued operating margin pressure.

North America, lululemon’s largest and most mature market, has been witnessing a softness due to uneven traffic trends and increasingly cautious consumer spending, particularly in discretionary categories. The impact has been most visible in the women’s category, a core driver of the brand’s North American business. Slower momentum in North America limits consolidated growth and raises concerns about market saturation. Increased promotional activity across the broader apparel space has also intensified competition, making it harder to drive full-price sales. Until demand stabilizes and traffic improves, North America is likely to remain a drag on near-term revenue growth.

For the first quarter of fiscal 2026, the company expects North America revenues to decline in the mid-single digits. Revenues in the United States are expected to decline in the mid-single digits, while revenues in Canada are expected to track slightly slower. Our model predicts revenues for the Americas business to decline 4.9% year over year for the fiscal first quarter, with a 6.2% fall in the United States and a 0.1% rise in Canada.

lululemon’s margins are expected to remain under pressure in the to-be-reported quarter due to higher product costs, increased markdowns, unfavorable channel mix and tariff pressures. Management indicated that elevated promotional activity, particularly in North America, is expected to have weighed on the merchandise margin as the company worked to clear slower-moving inventory. Higher freight, input and supply-chain costs also contributed to the decline, limiting leverage despite revenue growth.

On its last reported quarter’s earnings call, management projected a 380-bps year-over-year decline in the gross margin in the fiscal first quarter due to higher tariff rates, and investments in store openings, optimizations and the distribution network. Increased tariffs are expected to create a headwind of 290 bps on the gross margin, with 110 bps of offsets. Markdowns are projected to rise 30 bps year over year. Though full-price selling has improved from fourth-quarter fiscal 2025, the company expects markdowns to decline beginning in the second half. We expect adjusted gross profit to decline 4.2% in the fiscal first quarter, with a 380 bps dip in the gross margin.

For the first quarter of fiscal 2026, management anticipates SG&A, as a percentage of sales, to deleverage 330 bps year over year, driven in part by the timing of brand activations, including the BNP Paribas Open, the Milan Olympics and Studio. With a greater concentration of events planned in the first half of the year, the company expects additional pressure from discrete costs related to the proxy contest, as well as the reintroduction of expenses reduced last year, particularly in store labor hours and incentive compensation. The company also plans to continue investing in growth initiatives and IT infrastructure.

LULU expects the first-quarter fiscal 2026 operating margin to contract 710 bps year over year. We expect SG&A costs to rise 11.1% in the fiscal first quarter, resulting in a 710-bps decline in the operating margin.

LULU’s Price Performance & Valuationlululemon’s shares have exhibited a downtrend in the past three months, losing 25.6% compared with the industry’s fall of 10.1%. The company has also underperformed the Zacks Consumer Discretionary sector’s decline of 6.1% and the S&P 500’s growth of 10%.

lululemon’s YTD Performance
Image Source: Zacks Investment Research

The LULU stock has underperformed V.F. Corporation (VFC - Free Report) , which has declined 8.1% in the past three months. The stock also lagged Ralph Lauren Corporation (RL - Free Report) and PVH Corp. (PVH - Free Report) , which have rallied 6.2% and 44.5%, respectively, in the same period.

At its current price of $131.04, the LULU stock trades 12.4% above its 52-week low of $116.63 and 61.5% below its 52-week high of $340.25.

From the valuation standpoint, the company trades at a forward 12-month P/E multiple of 10.38X, below the industry average of 17.38X.

Image Source: Zacks Investment Research

Investment Thesislululemon is navigating a challenging retail backdrop, with inflation, elevated interest rates and softer discretionary spending weighing on consumer behavior. Premium and luxury categories, particularly in the Americas, remain under pressure, while tariffs present an additional headwind. Despite these near-term challenges, the company continues to execute against its long-term growth strategy.

Momentum is supported by lululemon’s Power of Three ×2 strategy, which focuses on doubling revenues through three key pillars: international expansion, growth in the men’s business and deeper digital engagement. This diversified approach is helping the company offset macro pressures while pursuing meaningful structural growth opportunities.

International markets remain key growth drivers, with China central to lululemon’s plan to scale global revenues. Combined with ongoing digital investments and continued expansion in men’s apparel, the company appears well-positioned to build resilience and create long-term value.

ConclusionNo matter how the stock responds to the upcoming first-quarter fiscal 2026 results, lululemon’s disciplined execution and strong brand equity continue to support its long-term outlook. Progress under the Power of Three ×2 strategy, led by international expansion, digital engagement and momentum in the men’s category, provides meaningful growth avenues.

However, near-term challenges, including softer demand in the Americas, tariff-related cost pressures and margin deleverage, are likely to weigh on lululemon’s upcoming results. Given these offsetting factors, investors may prefer to stay cautious and wait for clearer signs of demand stabilization in North America before turning more constructive on the stock. For existing shareholders, the long-term strategy provides a basis for staying the course.

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.

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What are the Zacks Style Scores? The Zacks Style Scores, developed alongside the Zacks Rank, are complementary indicators that rate stocks based on three widely-followed investing methodologies; they also help investors pick stocks with the best chances of beating the market over the next 30 days.

Each stock is given an alphabetic rating of A, B, C, D or F based on their value, growth, and momentum qualities. With this system, an A is better than a B, a B is better than a C, and so on, meaning the better the score, the better chance the stock will outperform.

The Style Scores are broken down into four categories:

Value ScoreFor value investors, it's all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to help pick out the most attractive and discounted stocks.

Growth ScoreGrowth investors are more concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, the Growth Style Score analyzes characteristics like projected and historic earnings, sales, and cash flow to find stocks that will see sustainable growth over time.

Momentum ScoreMomentum trading is all about taking advantage of upward or downward trends in a stock's price or earnings outlook, and these investors live by the saying "the trend is your friend." The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.

VGM ScoreIf you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.

How Style Scores Work with the Zacks Rank The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.

#1 (Strong Buy) stocks have produced an unmatched +23.7% average annual return since 1988, which is more than double the S&P 500's performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.

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You want to make sure you're buying stocks with the highest likelihood of success, and to do that, you'll need to pick stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you like a stock that only has a #3 (Hold) rank, it should also have Scores of A or B to guarantee as much upside potential as possible.

Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.

A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.

Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: V.F. (VFC - Free Report) Based in Greensboro, NC, V.F. Corporation designs, manufactures and markets branded apparel and related products in the United States and internationally. Its product line consists of denim and casual tops, bottoms, backpacks, book bags, luggage, outdoor gear, skateboard-inspired footwear and apparel, surf-inspired footwear and apparel, women’s lingerie, occupational apparel, licensed sports apparel, athletic apparel and fashion sportswear. The company markets its products through specialty stores, department stores, national chains and mass merchants along with licensees and distributors.

VFC is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.

It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 15.46; value investors should take notice.

Five analysts revised their earnings estimate upwards in the last 60 days for fiscal 2027. The Zacks Consensus Estimate has increased $0.01 to $1.10 per share. VFC boasts an average earnings surprise of +47.5%.

With a solid Zacks Rank and top-tier Value and VGM Style Scores, VFC should be on investors' short list.