On May 11, 2026, Constellation Brands Inc STZ shares fell 3.9% to a current price of $142.41. The stock has experienced significant volatility, trading within a 52-week range of $126.45 to $196.91.
GF Value™ verdict: The current price is $142.41, while GF Value™ estimates fair value at $227.33, indicating a 37.4% upside potential.GF Score™: STZ has a score of 72/100, categorizing it as Above Average, which suggests a relatively strong investment profile compared to peers.Most notable signal: Insiders have sold $0.4M worth of shares in the last 3 months, indicating a lack of buying activity. Is STZ Overvalued or Undervalued? Constellation Brands Inc STZ is currently trading at $142.41, significantly below its estimated GF Value™ of $227.33. This suggests that the stock is undervalued by approximately 37.4%, presenting a potential opportunity for investors looking for growth in the alcoholic beverage sector. The GF Valuation label indicates that STZ is significantly undervalued, which, in conjunction with the favorable margin of safety, could attract long-term investors.
However, while the low price relative to the intrinsic value suggests a buying opportunity, it is crucial to note the broader market context and the company's recent performance. The drop in share price over the past month (-13.7%) and year (-23.0%) raises questions about the underlying business fundamentals. GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates.
How Does STZ's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 14.8x 31.7x Forward P/E 12.0x N/A The current P/E ratio of 14.8x is significantly lower than the 5-year median P/E of 31.7x, suggesting that STZ is trading at a discount compared to its historical valuation metrics. This analysis aligns with the GF Value™ verdict, reinforcing the notion that STZ is undervalued based on its historical performance.
What Does STZ's GF Score™ Tell Us? Metric Rating GF Score™ 72/100 Financial Strength 5/10 Profitability 7/10 Growth 4/10 Valuation 4/10 Momentum 5/10 The GF Score™ of 72/100 indicates that Constellation Brands Inc exhibits an above-average investment profile. The strongest aspect of STZ's score is its Profitability rank of 7/10, suggesting robust profit margins. Conversely, the Growth rank of 4/10 and Valuation rank of 4/10 highlight potential areas of concern, indicating that while the company is profitable, it may struggle to sustain high growth rates and is not currently valued favorably compared to its historical standards.
What Are Insiders Doing with STZ Stock? In the past three months, insiders have sold $0.4 million worth of shares, but there has been no buying activity reported. This selling trend can suggest a lack of confidence among insiders regarding the near-term performance of the stock. Typically, insider buying is viewed as a positive signal, while selling may indicate that insiders are not optimistic about the company's future prospects.
What This Means for Investors Based on the GF Value™ assessment, Constellation Brands Inc is currently undervalued at $142.41 compared to its intrinsic value of $227.33, presenting a potential opportunity for value-driven investors. However, the recent decline in stock price and mixed signals from insider activity warrant a cautious approach.
For the complete analysis, visit the Constellation Brands Inc STZ 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 STZ's GF Score™?
STZ's GF Score™ is 72/100, indicating an above-average investment profile that suggests potential for higher long-term returns.
Is STZ overvalued or undervalued?
According to GF Value™, STZ is currently undervalued, with the stock price significantly below its estimated intrinsic value, suggesting a possible buying opportunity.
What is STZ's P/E ratio?
STZ's P/E ratio is 14.8x, which is 53% below its 5-year median of 31.7x, indicating that the stock is trading at a discount compared 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].
Constellation Brands remains a Buy, supported by solid cash flow, strong brands, and a valuation that offers a margin of safety amid macro headwinds. FY26 free cash flow reached $1.79B, with FY27 guidance implying $1.6–$1.7B FCF and comparable EPS of $11.20–$11.90, reflecting ongoing consumer pressure. STZ's premium portfolio and disciplined capital allocation, including a 2.93% dividend yield and robust buybacks, should help deliver solid returns in an eventual consumer recovery.
ROCHESTER, N.Y., May 21, 2026 (GLOBE NEWSWIRE) -- Constellation Brands, Inc. (NYSE: STZ), a leading beverage alcohol company, today announced the election of Morgan Flatley of McDonald’s Corporation (NYSE: MCD), the world’s leading global foodservice retailer, to serve as a member of its Board of Directors effective May 20, 2026.
“We’re excited to welcome Morgan to Constellation Brands’ Board of Directors,” said Constellation Brands Board Chair Chris Baldwin. “Morgan’s extensive global brand-building experience in both the consumer-packaged goods and food and beverage sectors will benefit Constellation as we continue to position the company to remain the #1 high-end beer supplier in the U.S. by dollar sales and a leader in dollar share gains within the dynamic beverage alcohol category.”
Flatley currently serves as Executive Vice President, Global Chief Marketing Officer and New Business Ventures at McDonald’s Corporation, where she is responsible for global brand building, including driving the company’s growth and transformation across marketing, menu, value platforms, digital customer engagement, insights, and new business ventures.
Since joining McDonald’s in 2017, Flatley has been the driving force behind some of the Brand’s most inspired marketing campaigns. She has been named to the Forbes World’s Most Influential CMOs list multiple times and has been recognized with Adweek’s most prestigious honor – Brand Genius. Under Flatley’s leadership, McDonald’s has also been recognized multiple times as a top marketer among consumer brands.
Prior to joining McDonald’s, Flatley spent 13 years at PepsiCo, Inc., a multinational food, snack, and beverage company, most recently serving as Senior Vice President and Chief Marketing Officer, Global Nutrition, responsible for brand positioning and innovation for Quaker, Tropicana, Gatorade, and Naked Juice.
“Constellation Brands has built one of the most distinctive and iconic brand portfolios in the industry by staying deeply attuned to consumers and shaping culture, not just responding to it,” said Flatley. “I look forward to collaborating with my fellow board members and lending perspective to help Constellation’s executive team continue building on the company’s strong foundation for growth and track record of success.”
With Flatley’s election, the composition of Constellation Brands’ Board of Directors returns to twelve members, following former President and Chief Executive Officer Bill Newlands’ retirement from the Board in April 2026. Flatley’s election serves as a continuation of the company’s comprehensive board refreshment process.
ABOUT CONSTELLATION BRANDS
Constellation Brands (NYSE: STZ) is a leading international producer and marketer of beer, wine, and spirits with operations in the U.S., Mexico, New Zealand, and Italy. Our mission is to build brands that people love because we believe elevating human connections is Worth Reaching For. It’s worth our dedication, hard work, and calculated risks to anticipate market trends and deliver for our consumers, shareholders, employees, and industry. This dedication is what has driven us to become one of the fastest-growing, large CPG companies in the U.S. at retail, and it drives our pursuit to deliver what’s next.
Every day, people reach for brands from our high-end, imported beer portfolio anchored by the iconic Corona Extra and Modelo Especial, a flavorful lineup of Modelo Cheladas, and favorites like Pacifico, and Victoria; our exceptional wine brands including The Prisoner Wine Company, Robert Mondavi Winery, Kim Crawford, Schrader Cellars, and Lingua Franca; and our craft spirits brands such as Casa Noble Tequila and High West Whiskey.
As an agriculture-based company, we strive to operate in a way that is sustainable and responsible. Our ESG strategy is embedded into our business and we focus on serving as good stewards of the environment, investing in our communities, and promoting responsible beverage alcohol consumption. We believe these aspirations in support of our longer-term business strategy allow us to contribute to a future that is truly Worth Reaching For.
To learn more, visit www.cbrands.com and follow us on LinkedIn and Instagram.
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements. All statements other than statements of historical fact are forward-looking statements. The word “expect” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These statements may relate to business strategy, future operations, prospects, plans, and objectives of management and Constellation’s Board of Directors, including the anticipated benefits of Flatley’s experience, positioning of the company as a high-end beer supplier and beverage alcohol category leader, and building on the company’s strong foundation for growth and track record of success, as well as information concerning expected actions of third parties. All forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those set forth in, or implied by, such forward-looking statements.
The forward-looking statements are based on management’s and the Constellation Board of Directors’ current expectations and should not be construed in any manner as a guarantee that any of the events anticipated by the forward-looking statements will in fact occur or will occur on the timetable contemplated hereby. All forward-looking statements speak only as of the date of this news release and Constellation does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
In addition to risks and uncertainties associated with ordinary business operations, the forward-looking statements contained in this news release are subject to other risks and uncertainties, including the accuracy of all projections and other factors and uncertainties disclosed from time-to-time in Constellation Brands’ filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended February 28, 2026, which could cause actual future performance to differ from current expectations.
MEDIA CONTACTSINVESTOR RELATIONS CONTACTS Maggie Bowman 213-500-2401 /Blair Veenema 585-284-4433 /[email protected]@cbrands.com Snehal Shah 847-385-4940 / [email protected] David Paccapaniccia 585-282-7227 / [email protected] A downloadable PDF copy of this news release can be found here. http://ml.globenewswire.com/Resource/Download/1aea2f9c-8253-45d2-8d94-2b14f1703079
Greg Abel's first quarter as Berkshire Hathaway's (BRKA +0.36%) (BRKB +0.16%) CEO is officially in the books. And things certainly seem at least a little bit different than how they were when Warren Buffett was at the helm.
With the exception of its expanded stake in Alphabet, which is now the conglomerate's fifth-largest holding, and a cut to its investment in Chevron, there wasn't much change in the company's top 10 equity positions -- which make up roughly 80% of the portfolio's value at recent prices.
There are still some big takeaways to glean from the seemingly small changes Abel made in Q1, however, that could make a meaningful impact on this ticker's long-term performance. Here are the three most important ones I see.
1. Not bothering with pointlessly small positions While Berkshire Hathaway's biggest holdings didn't change much last quarter, many of the smaller ones did. In addition to Charter Communications and Aon, Abel also shed longtime holdings Visa and Mastercard, along with a relatively recently acquired position in Amazon.
The common thread among the 16 stocks sold entirely in Q1? Not a single one of them accounted for more than 1% of the value of Berkshire Hathaway's entire stock portfolio. Even if any of these names were destined for big gains, it would have made little net impact.
Image source: The Motley Fool.
Honestly, I never understood why Buffett bothered with such small positions. They seemed like more of a distraction that Abel doesn't want.
2. Letting go of losers There's much to be said for being willing to hold onto a stock for Buffett's favorite holding period of "forever." There's also something to be said for being willing to bail out of an underperforming position -- even at a loss -- when it's clear that something's not panning out.
That's what Abel seems to think, anyway. Despite owning some of them for only a few quarters, Berkshire got out of positions in Pool Corp., UnitedHealth, and Domino's Pizza and sold most of its stake in Constellation Brands (STZ +2.84%), just to name a few. In most cases, these exits would have locked in a loss.
It's difficult to disagree with the decisions, though. For instance, while Constellation was a promising turnaround prospect when Berkshire first began accumulating it back in late 2024, it's since become clear that the booze business's headwind may be more secular than cyclical. Gallup reports the number of Americans who regularly consume alcohol reached a multidecade low last quarter. This weakness could last for a full generation.
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Ditto for health insurer UnitedHealth. The healthcare system's skyrocketing operating costs and subsequent price increases have reached untenable levels. The business will require a massive overhaul to repair, and it's not clear what it will look like afterward. Berkshire's managers know enough to know they can't afford to wait around for the unknown distant future while weighing the stock down in the present.
3. Willingness to invest in special situations The line dividing undervalued stocks and long-shot turnaround stories can sometimes be blurry. Buffett usually remained on the "undervalued" side of the fence and was rewarded for recognizing the right buying opportunities. His willingness to scoop up beaten-down Goldman Sachs shares in the midst of 2008's subprime mortgage meltdown, for example, ended up paying off handsomely. In retrospect, it was a no-brainer move.
Abel seems willing to strategically bet on companies with seemingly less resiliency than Goldman. In Q1, for example, he steered Berkshire into new stakes in Delta Air Lines and department store chain Macy's. While these companies aren't doomed, they're both facing serious systemic challenges. For instance, although Delta's revenue has continued to reliably grow, its bottom line has been mostly stagnant since 2016 largely because the highly competitive air travel business continues evolving in ways that pinch its profitability. As for Macy's, why would Abel want to own a piece of a brick-and-mortar retailer that's been reporting declining revenue since 2016? It may have something to do with the fact that Macy's owned real estate alone may be worth more than the company's current market cap.Now it's just a matter of figuring out how to unlock that value.
More to the point, these don't seem like businesses Warren Buffett would have bought into, recognizing something big would need to change to make them worth owning. Indeed, back in his 2007 letter to Berkshire shareholders, Buffett bluntly wrote, "The airline industry's demand for capital ever since that first flight has been insatiable. Investors have poured money into a bottomless pit, attracted by growth when they should have been repelled by it."
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Bonus: Fewer stocks, more wholly owned businesses... maybe Finally, while Berkshire Hathaway added or expanded stock positions during the first quarter, the cash hoard continues to grow, reaching a record $397 billion as of the end of March.
It's broadly understandable. Stocks as a whole are unusually expensive right now, with the S&P 500 (^GSPC +0.32%) priced at roughly 22 times its projected earnings.
Not every stock is wildly overvalued here, however. Indeed, data from Yardeni Research indicates that without the artificial intelligence (AI)-centric "Magnificent Seven" stocks' valuations factored in, the S&P 500's forward-looking price-to-earnings ratio is a much more palatable 19. Point being, there are reasonably priced equities out there, if Abel wants Berkshire Hathaway to buy them. He doesn't -- at least not yet.
So what does he want to do with all that cash? While he may be waiting for a more compelling economic backdrop to start making bigger equity investments, it's also possible this is the beginning of a more philosophical shift away from a somewhat broken stock market and toward more outright ownership of cash-generating businesses that Berkshire can wholly control. As a reminder, Berkshire Hathaway completed its acquisition of Occidental Petroleum's chemical business, OxyChem, at the beginning of this year. Although it already operates in the chemical space via Lubrizol and LiquidPower, Berkshire didn't really need to outright buy OxyChem. It just wanted to.
One deal doesn't make a trend. All trends, however, start with that first step. And honestly, less reliance on increasingly volatile stocks and more exposure to privately held businesses may be the best thing for Berkshire Hathaway shareholders for the foreseeable future.
Constellation Brands faces headwinds from inflation, market saturation, and shifting consumer drinking habits impacting growth and technical sentiment. Despite sector challenges, STZ's valuation and core strengths provide resilience against market headwinds, warranting careful consideration before selling. Risk factors include inflation and declining alcohol consumption, but beer remains a preferred choice, supporting STZ's product mix.
ROCHESTER, N.Y., June 02, 2026 (GLOBE NEWSWIRE) -- Constellation Brands, Inc. (NYSE: STZ), a leading beverage alcohol company, announced today it will report financial results for its first quarter ended May 31, 2026, on Tuesday, June 30, 2026, after the close of the U.S. markets by posting the earnings release and financial tables, as well as other supporting materials, on the company’s investor relations website at ir.cbrands.com. A live conference call will be hosted at 8:00 a.m. ET on Wednesday, July 1, 2026, for analysts to discuss the company’s financial results, operating performance, strategic business initiatives, and financial outlook with President and Chief Executive Officer, Nicholas Fink, and Executive Vice President and Chief Financial Officer, Garth Hankinson.
The conference call can be accessed by dialing +1-877-407-9121 and entering conference identification number 13760976, beginning at 7:50 a.m. ET. A live, listen-only webcast of the conference call will be available on the company’s investor relations website at ir.cbrands.com under the News & Events section. When the conference call begins, financial information discussed on the call, and reconciliations of reported GAAP financial measures with comparable and other non-GAAP financial measures, will also be available on the company’s investor relations website under the Financial History section. For anyone unable to participate in the conference call, a replay will be available on the company’s investor relations website.
ABOUT CONSTELLATION BRANDS
Constellation Brands (NYSE: STZ) is a leading international producer and marketer of beer, wine, and spirits with operations in the U.S., Mexico, New Zealand, and Italy. Our mission is to build brands that people love because we believe elevating human connections is Worth Reaching For. It’s worth our dedication, hard work, and calculated risks to anticipate market trends and deliver for our consumers, shareholders, employees, and industry. This dedication is what has driven us to become one of the fastest-growing, large CPG companies in the U.S. at retail, and it drives our pursuit to deliver what’s next.
Every day, people reach for brands from our high-end, imported beer portfolio anchored by the iconic Corona Extra and Modelo Especial, a flavorful lineup of Modelo Cheladas, and favorites like Pacifico, and Victoria; our exceptional wine brands including The Prisoner Wine Company, Robert Mondavi Winery, Kim Crawford, Schrader Cellars, and Lingua Franca; and our craft spirits brands such as Mi CAMPO Tequila and High West Whiskey.
As an agriculture-based company, we strive to operate in a way that is sustainable and responsible. Our ESG strategy is embedded into our business and we focus on serving as good stewards of the environment, investing in our communities, and promoting responsible beverage alcohol consumption. We believe these aspirations in support of our longer-term business strategy allow us to contribute to a future that is truly Worth Reaching For.
To learn more, visit www.cbrands.com and follow us on LinkedIn and Instagram.
A downloadable PDF copy of this news release can be found here. http://ml.globenewswire.com/Resource/Download/aa9376c1-2277-4318-9ebe-c8b3de5c4d47
Warren Buffett stepped down as CEO of Berkshire Hathaway (NYSE: BRK-B | BRK-B Price Prediction) on December 31, 2025, after six decades leading the conglomerate he transformed from a struggling textile mill into a $1 trillion empire. The “Oracle of Omaha” left his successor, Greg Abel, with a very concentrated portfolio: more than 65% of Berkshire’s $381 billion portfolio is invested in just six stocks. Abel, who has served as vice chair overseeing non-insurance operations, officially took over as chief executive on January 1, 2026. At 95 years old, Buffett isn’t fully retiring—he will remain chair of the board and plans to continue coming to the Omaha headquarters as much as before. However, he has stated he will be “going quiet” and leaving all decision-making to Abel.
It became quite obvious when the first-quarter numbers for Berkshire Hathaway were presented that it was more of the same for the investment giant. The huge chest of T-bills rose to $397 billion as more stock was sold. Specifically, the company sold $24.1 billion in equities in the first quarter of 2026, a huge jump from $4.7 billion in the first quarter of 2025, marking 14 straight quarters of net stock sales and pushing cash reserves to a staggering level. Once again, more Apple (NASDAQ: AAPL) and over 50 million shares of Bank of America (NYSE: BAC) hit the tape. What wasn’t being sold, at least so far, were some of the portfolio’s highest-yielding dividend stocks. Five of the highest-yielding could make up a very handsome passive-income portfolio while offering outstanding diversity, and being members of Berkshire Hathaway.
Why do we cover Warren Buffett’s Berkshire Hathaway stocks?
Few investors have the results and reputation that Buffett has garnered over the past 60 years. Though he has stepped away from the CEO chair, his impact and investment guidelines are likely to remain in place long after he is gone. While investing has evolved since Buffett took control of Berkshire Hathaway in 1965, buying good companies with products and services recognized worldwide, and paying dividends, will always remain a timeless approach.
Here are the five highest-yielding Berkshire Hathaway stocks.
Kraft Heinz Kraft Heinz (NYSE: KHC) is North America’s third-largest food and beverage company and fifth-largest globally. Even in difficult times, everybody needs to eat, and this company consistently benefits while paying a substantial 7.12% dividend. The company was formed via the merger of H.J. Heinz and Kraft Foods, and it manufactures and markets food and beverage products worldwide through its eight consumer-driven product platforms:
Taste Elevation Easy Ready Meals Hydration Meats Cheeses Substantial Snacking Desserts Coffee and other grocery products The company has two reportable segments defined by geographic region: North America and International Developed Markets. Its other segments, West and East Emerging Markets (WEEM) and Asia Emerging Markets (AEM), are combined and reported as Emerging Markets.
Kraft Heinz brands include:
Kraft Oscar Mayer Heinz Philadelphia Lunchables Velveeta Ore-Ida Capri Sun Maxwell House Kool-Aid Jell-O Golden Circle Wattie’s Plasmon ABC Master Quero Pudliszki The company manufactures its products from a wide variety of raw materials and sells them through its sales organizations and independent brokers, agents, and distributors.
In February 2026, Kraft Heinz scrapped its planned corporate split. New CEO Steve Cahillane cited worsening conditions in the food industry, while emphasizing that the company’s challenges are “fixable and within our control.” Rather than breaking up, the company is intensifying its turnaround efforts. It is committing $600 million to marketing, sales, and research and development to drive the strategy. The decision follows a 3.5% decline in net sales in 2025, with further declines expected in 2026. By canceling the split, Kraft Heinz is now fully focused on stabilizing and rebuilding the business. Abel indicated Berkshire Hathaway is no longer planning to sell its stake in Kraft Heinz.
The swift reversal is being viewed as a reflection of Abel’s more hands-on management approach, as he reportedly expressed dissatisfaction, prompting the company to change direction quickly. For now, Berkshire appears committed to holding its position, although the shares could still be sold if conditions change. If they don’t, and the transition is successful, this could be a contrarian home run.
Sirius XM The satellite radio operator was first added to the Berkshire Hathaway portfolio in 2016, and Buffett has continued to increase his stake over the past few years, a move that has proven to be shrewd. Sirius XM (NASDAQ: SIRI) is an audio entertainment company in North America that pays shareholders a dividend yield of 3.89%.
The company has a portfolio of audio businesses, including its flagship subscription entertainment service SiriusXM; the ad-supported and premium music streaming services of Pandora; an expansive podcast network; and a suite of business and advertising solutions.
The Sirius XM segment offers a variety of content, including music, sports, entertainment, comedy, talk, news, traffic, and other channels, as well as podcasts and infotainment services, in the United States for a subscription-based fee. Sirius XM’s packages include live, curated, and specific exclusive and on-demand programming.
The Pandora and Off-platform segment operates a music, comedy, and podcast streaming discovery platform that offers a personalized experience for each listener, wherever and whenever they want to listen, across mobile devices, vehicle speakers, and connected devices.
Chevron Chevron (NYSE: CVX) is an American multinational energy company primarily focused on oil and gas, and it has been on fire as oil prices have skyrocketed. This integrated giant is a safer option for investors seeking exposure to the energy sector, and it pays a substantial 3.67% dividend, which was raised by 5% earlier this year. Chevron operates integrated energy and chemicals businesses worldwide. Berkshire Hathaway bought a well-timed 8 million additional shares in the fourth quarter, but sold a giant chunk of shares during the first quarter. It is one of the highest-quality companies in the energy sector, with a pristine balance sheet, and accounts for a sizable portion of Berkshire’s equity holdings. Chevron has a 38-year streak of dividend growth.
The company operates in two segments. The Upstream segment is involved in the following:
Exploration, development, production, and transportation of crude oil and natural gas Processing, liquefaction, transportation, and regasification associated with liquefied natural gas Transportation of crude oil through pipelines, and transportation, storage Marketing of natural gas, as well as operating a gas-to-liquids plant The Downstream segment engages in:
Refining crude oil into petroleum products Marketing crude oil, refined products, and lubricants Manufacturing and marketing renewable fuels Transporting crude oil and refined products by pipeline, marine vessel, motor equipment, and rail car Manufacturing and marketing of commodity petrochemicals, plastics for industrial uses, and fuel and lubricant additives It also involves cash management, debt financing, insurance operations, real estate, and technology businesses.
Coca-Cola Coca-Cola (NYSE: KO) is an American multinational corporation founded in 1892. This company remains a top long-time holding of Warren Buffett, whose 400 million shares are 9.3% of the float and 9.9% of the portfolio. The stock pays a dependable 2.63% dividend.
Coca-Cola is the world’s largest beverage company, offering consumers more than 500 sparkling and still brands. Led by Coca-Cola, one of the world’s most valuable and recognizable brands, the company’s portfolio features 20 billion-dollar brands, including:
Diet Coke Coca-Cola Light Coca-Cola Zero Sugar Caffeine-free Diet Coke Cherry Coke Fanta Orange Fanta Zero Orange Fanta Zero Sugar Fanta Apple Sprite Sprite Zero Sugar Simply Orange Simply Apple Simply Grapefruit Fresca Schweppes Dasani Fuze Tea Glacéau Smartwater Glacéau Vitaminwater Gold Peak Ice Dew Powerade Topo Chico Minute Maid Globally, it is the top provider of sparkling beverages, ready-to-drink coffees, juices, and juice drinks. Through the world’s most extensive beverage distribution system, consumers in more than 200 countries enjoy the company’s beverages at a rate of over 1.9 billion servings per day. And remember that the company owns 19.5% of Monster Beverage (NASDAQ: MNST), which continues to deliver strong financial results.
Constellation Brands Constellation is the largest beer importer in the US by sales and has the third-largest market share among major beer suppliers. If there is any company whose products remain in style, it’s this one, which achieves only 7% of its sales abroad. Constellation Brands (NYSE: STZ), together with its subsidiaries, produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy.
The company provides beer primarily under these popular brands:
Corona Extra Corona Premier Corona Familiar Corona Light Corona Refresca Corona Hard Seltzer Modelo Especial Modelo Negra Modelo Chelada Victoria Vicky Chamoy Pacifico It also offers wine under:
Cook’s California Champagne Kim Crawford Meiomi Mount Veeder Ruffino SIMI My Favorite Neighbor Robert Mondavi Winery Schrader The Prisoner Wine Company Spirits are sold under the Casa Noble, Copper & Kings, High West, Mi CAMPO, and Nelson’s Green Brier brands.
Digital solution will be designed to help guide users through injection process April 08, 2026 17:00 ET | Source: Enable Injections, Inc.
CINCINNATI, April 08, 2026 (GLOBE NEWSWIRE) -- Aptar Digital Health, a global leader in digital health solutions enhancing the patient experience, and Enable Injections, Inc. (“Enable”), a healthcare innovation company developing and manufacturing the enFuse® On-Body Delivery System, today announced a strategic partnership naming Aptar Digital Health as Enable’s preferred digital health partner for the enFuse® system. This digital solution will be designed to guide patients and caregivers throughout the injection process and help strengthen engagement support before, during and after administration.
Through this partnership, Aptar Digital Health will deliver a companion digital solution for Enable Injections’ enFuse® system, designed to enhance the patient experience and support adherence. Key features of the solution will include treatment data recording, onboarding and training modules, injection guidance, patient-reported outcomes and symptom tracking - helping to empower patients and caregivers with greater confidence and control over the treatment process.
Built on a flexible and scalable architecture, the companion solution will be deployed alongside the enFuse® system, enabling pharmaceutical partners to extend the value of their therapies beyond delivery. Designed to evolve across the drug development lifecycle, the solution will support use cases from clinical trials through commercialization, aligned with development and launch strategies.
Adherence data and patient reported outcomes will be captured remotely, securely stored and made available through analytics dashboards that generate actionable insights to support clinical development, launch readiness and real-world use. The modular, program-specific design will allow pharmaceutical partners to integrate digital components into their clinical or commercial programs based on their needs. By combining device-generated data with patient reported insights, the solution will help drive more informed decisions grounded in real-world usage.
“The enFuse® companion solution reflects our vision of a more connected treatment experience that supports patients beyond the moment of injection,” said Michael D. Hooven, Chairman and CEO of Enable Injections. “Together with Aptar Digital Health, we aim to combine innovative drug delivery with digital support tools that can help patients remain engaged in their therapy and enable healthcare providers to better understand and support each patient’s journey.”
“We are excited to partner with Enable Injections to help bring the next generation of drug delivery solutions to life,” said Damien McKeon, SVP Strategic Partnerships, Aptar Digital Health. “Large-volume biologic therapies are increasingly used to treat complex chronic conditions. They often require long-term adherence to achieve optimal outcomes. Digital solutions supporting treatment tracking and patient engagement can help address common adherence challenges associated with self-administration.”
About Aptar Digital Health
Aptar Pharma's Digital Health division is part of AptarGroup, Inc. (NYSE:ATR), a global leader in drug delivery, including dosing and protection technologies, and consumer product dispensing. Aptar Digital Health creates end-to-end solutions to enhance patient experiences every day, leveraging a holistic ecosystem of digital interventions. Amplified by an industry-leading portfolio of products and solutions, Aptar Digital Health’s offering combines mobile and web apps, Software-as-Medical-Device, connected drug delivery systems, advanced data analysis services, and patient onboarding and training solutions to actively empower patients and create a positive treatment journey. Headquartered in Crystal Lake, Illinois, Aptar employs 14,000 dedicated people across 20 countries. Learn more at www.aptardigitalhealth.com and http://www.aptar.com.
About Enable Injections
Cincinnati-based Enable Injections is a global healthcare innovation company committed to improving the patient treatment experience through the development and manufacturing of the enFuse® on-body drug delivery system. An innovative wearable technology, the enFuse® system is designed to deliver large volumes of pharmaceutical and biologic therapeutics via subcutaneous administration, with the aim of improving convenience, supporting improved outcomes, and advancing healthcare system economics.
Enable is currently working with a number of pharmaceutical partners to conduct clinical trials and plan for the joint commercial launch of their therapies in combination with the enFuse® technology. For more information, visit www.enableinjections.com.
VANCOUVER, British Columbia, April 22, 2026 (GLOBE NEWSWIRE) -- Rakovina Therapeutics Inc. (TSX-V: RKV; FSE: 7JO0), a biopharmaceutical company advancing innovative cancer therapies through artificial intelligence (AI)-powered drug discovery, today announced the presentation of new preclinical data from two of its lead programs at the 2026 American Association for Cancer Research (AACR) Annual Meeting, held April 17–22 in San Diego, California.
The data, presented across two poster sessions at the world’s premier cancer research forum, advance Rakovina’s AI-driven pipeline targeting DNA damage response (DDR) vulnerabilities in hard-to-treat solid tumors. Both programs leverage generative AI platforms to address longstanding limitations of existing cancer therapies, including poor central nervous system (CNS) penetrance and the toxicity burden of drug combination regimens.
Novel Brain-Penetrant Dual ATR-mTOR Inhibitor Demonstrates In Vivo Efficacy in PTEN-Deficient Cancers
The first poster, titled A Novel Brain-Penetrant Dual ATR-mTOR Inhibitor for PTEN-Deficient Cancers (Presentation #1743, DNA Damage and Repair 2 session, April 20), presented preclinical data from Rakovina’s program to develop first-in-class CNS-penetrating molecules that simultaneously inhibit ATR and mTOR, two key drivers of survival in PTEN-deficient cancer cells. The program was developed in collaboration with Variational AI (Vancouver, BC) using the Enki™ generative AI platform.
PTEN deficiency is found in up to 40% of gliomas and 63% of breast cancers, which frequently metastasize to the brain. Simultaneous inhibition of ATR and mTOR is a rational therapeutic strategy in PTEN-deficient tumors, as PTEN loss activates both ATR-dependent DNA damage signaling and mTOR-driven cell survival pathways. However, no approved therapy directly addresses this dual vulnerability with effective CNS penetrance.
Using the Enki™ latent diffusion model to simultaneously optimize potency, selectivity, CNS penetrance, and ADMET properties, Rakovina generated and synthesized a curated set of novel small-molecule dual ATR-mTOR inhibitor candidates. Key findings presented at AACR 2026 include:
Enzymatic potency: Candidate compounds demonstrated equal or greater inhibition of recombinant ATR and mTOR enzymes compared to reference compounds ceralasertib and tuvusertib.Selectivity: Candidates are equally or more selective against PIKK family enzymes than the reference compounds ceralasertib and tuvusertib.Cell viability inhibition: Candidates inhibit cell viability of D283 medulloblastoma cells equally or more than reference compounds. A prototype lead candidate inhibited cell viability of both PTEN wild-type and PTEN-deficient cancer cell lines.Metabolic stability: After 45 minutes of incubation with human liver microsomes, candidate compounds demonstrated strong metabolic stability.CNS penetrance: Pharmacokinetic profiling following intraperitoneal administration in mice confirmed varying but measurable levels of CNS penetrance across candidates, with brain-to-plasma ratios broadly consistent with Enki™ AI predictions.In vivo efficacy: In a subcutaneous LNCaP prostate tumor model, a prototype lead candidate significantly prolonged tumor doubling time compared to vehicle control, with equal potency to reference compound ceralasertib. Critically, the Rakovina candidate was better tolerated than ceralasertib, demonstrating less weight loss with daily dosing and no signs of hematological toxicity at terminal complete blood count analysis. Optimization of candidate inhibitors is ongoing.
Novel AI-Designed Lipid Nanoparticle Formulation of kt-3283 Successfully Characterized
The second poster, titled Development of a Lipid Nanoparticle Formulation of the Bifunctional PARP and HDAC Inhibitor Kt-3283 (Presentation #6373, Drug Delivery session, April 21), presented preclinical formulation data on pLNP/kt-3283, developed in collaboration with NanoPalm (Riyadh, Saudi Arabia) using the EnsaliX AI platform.
kt-3283 integrates PARP inhibition and HDAC-mediated chromatin remodeling into a single compound, thereby improving the PARP efficacy, and eliminating the need for combination drug regimens and their associated toxicity risks. While kt-3283 has demonstrated potent anti-tumor activity across multiple tumor types in prior in vitro studies, its clinical viability has been limited by bioavailability and metabolic stability challenges. The pLNP formulation has been specifically designed to address these limitations.
Data presented confirm the successful assembly of the EnsaliX-designed patterned lipid nanoparticles. Physicochemical characterization confirmed uniform particle size, stable colloidal behavior, and a structured surface texture predicted to enhance cellular uptake. The pLNP/kt-3283 formulation demonstrated structure and particle size consistency supporting further biological evaluation.
Next steps include in vitro and in vivo characterization to confirm activity against PARP and HDAC enzymes, determine ADME properties, and evaluate efficacy in tumor models.
“Presenting at AACR is a meaningful milestone for our team, and these results represent a genuine step forward for both programs,” said Kim Oishi, Chief Executive Officer of Rakovina Therapeutics. “The in vivo efficacy data for our ATR-mTOR inhibitor are particularly encouraging. The compound demonstrated potency comparable to an established reference compound while exhibiting a meaningfully improved tolerability profile. That is exactly the differentiation we are building toward. Combined with the initial characterization of our LNP formulation for kt-3283, we believe these results reinforce the potential of our AI-driven pipeline and support a path toward IND-enabling studies.”
Rakovina’s AI-powered discovery approach leverages generative AI platforms to evaluate billions of potential drug candidates at a pace not achievable through traditional methods. These capabilities are supported by the company’s access to the University of British Columbia’s lab infrastructure, enabling rapid in-house testing of lead compounds.
“These results demonstrate that our strategy of integrating AI-guided design with biological validation, is working as intended,” said Dr. Mads Daugaard, President and Chief Scientific Officer of Rakovina Therapeutics. “For the ATR-mTOR program, our candidate inhibitors are tracking closely with the AI predictions for potency, selectivity, and CNS penetrance and our in vivo results give confidence in the direction of this program. For kt-3283, we have demonstrated that the EnsaliX-designed LNP formulation produces a well-characterized nanoparticle. The structured surface and organized phospholipid assembly we observed are precisely the properties expected to enhance nanoparticle stability and cellular uptake of kt-3283. Both programs have clear next steps, and we are moving forward with purpose.”
The data presented at AACR 2026 reinforce the progress of Rakovina’s AI-enabled DDR inhibitor pipeline and inform the next phase of preclinical development for both programs. For the ATR-mTOR program, further optimization of candidate inhibitors is ongoing. For the kt-3283 LNP program, the company will advance in vitro and in vivo studies to further characterize biological activity prior to evaluating efficacy in tumor models.
Rakovina intends to use these findings to advance best-in-class lead candidates toward IND-enabling studies in collaboration with pharmaceutical partners.
About Rakovina Therapeutics Inc.
Rakovina Therapeutics is a biopharmaceutical research company focused on the development of innovative cancer treatments. Our work is based on unique technologies for targeting the DNA-damage response powered by Artificial Intelligence (AI) using validated, proprietary platforms. By using AI, we can review and optimize drug candidates at a much greater pace than ever before.
The Company has established a pipeline of distinctive DNA-damage response inhibitors with the goal of advancing one or more drug candidates into human clinical trials in collaboration with pharmaceutical partners.
Further information may be found at
http://www.rakovinatherapeutics.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
This release includes forward-looking statements regarding the company and its respective business, which may include, but is not limited to, statements with respect to the proposed business plan of the company and other statements. Often, but not always, forward-looking statements can be identified by the use of words such as “plans,” “is expected,” “expects,” “scheduled,” “intends,” “contemplates,” “anticipates,” “believes,” “proposes” or variations (including negative variations) of such words and phrases, or state that certain actions, events, or results “may,” “could,” “would,” “might,” or “will” be taken, occur, or be achieved. Such statements are based on the current expectations of the management of the company. The forward-looking events and circumstances discussed in this release may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting the company, including risks regarding the biopharmaceutical industry, economic factors, regulatory factors, the equity markets generally, and risks associated with growth and competition.
Although the company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events, or results to differ from those anticipated, estimated, or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made, and the company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. The reader is referred to the company’s most recent filings on SEDAR+ for a more complete discussion of all applicable risk factors and their potential effects, copies of which may be accessed through the company’s profile page at www.sedar.com.
For Further Information Contact:
Investor Relations
Rakovina Therapeutics Inc. [email protected]
Wall Street expects a year-over-year decline in earnings on higher revenues when AptarGroup (ATR - Free Report) reports results for the quarter ended March 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.
The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on April 30. On the other hand, if they miss, the stock may move lower.
While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.
Zacks Consensus EstimateThis maker of consumer-product dispensing systems is expected to post quarterly earnings of $1.15 per share in its upcoming report, which represents a year-over-year change of -4.2%.
Revenues are expected to be $964.39 million, up 8.7% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 2.96% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for AptarGroup?For AptarGroup, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -1.09%.
On the other hand, the stock currently carries a Zacks Rank of #4.
So, this combination makes it difficult to conclusively predict that AptarGroup will beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that AptarGroup would post earnings of $1.24 per share when it actually produced earnings of $1.25, delivering a surprise of +0.81%.
Over the last four quarters, the company has beaten consensus EPS estimates four times.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
AptarGroup doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Expected Results of an Industry PlayerAnother stock from the Zacks Containers - Paper and Packaging industry, Avery Dennison (AVY - Free Report) , is soon expected to post earnings of $2.41 per share for the quarter ended March 2026. This estimate indicates a year-over-year change of +4.8%. Revenues for the quarter are expected to be $2.27 billion, up 5.7% from the year-ago quarter.
The consensus EPS estimate for Avery Dennison has been revised 0.2% lower over the last 30 days to the current level. However, a lower Most Accurate Estimate has resulted in an Earnings ESP of -0.16%.
When combined with a Zacks Rank of #4 (Sell), this Earnings ESP makes it difficult to conclusively predict that Avery Dennison will beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates three times.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
CRYSTAL LAKE, Ill.--(BUSINESS WIRE)--AptarGroup, Inc. (NYSE: ATR), a global leader in drug delivery, including dosing and protection technologies, and consumer product dispensing, today announced that the Board declared a quarterly cash dividend of $0.48 per share. The payment date is May 27, 2026, to stockholders of record as of May 6, 2026.
As previously announced, Aptar will hold a conference call on Friday, May 1, 2026, at 8:00 a.m. Central Time to discuss the Company’s first quarter results for 2026. The call will last approximately one hour. Interested parties are invited to listen to a live webcast by visiting the Investors page at www.aptar.com. A replay of the conference call can also be accessed for a limited time on the Investors page of the website.
About Aptar
Aptar is a global leader in drug delivery, including dosing and protection technologies, and consumer product dispensing. Aptar partners with the world’s top healthcare and consumer brands to deliver medicines and create exceptional user experiences. Serving diverse markets, from pharmaceutical to beauty to food and beverage, Aptar combines market expertise with proprietary design, engineering and science to develop innovative solutions that improve lives worldwide. Headquartered in Crystal Lake, Illinois, Aptar employs 14,000 dedicated people across 20 countries. Learn more at http://www.aptar.com.
This press release contains forward-looking statements, including with regard to the payment of the quarterly cash dividend. Expressions or future or conditional verbs such as “will” are intended to identify such forward-looking statements. Forward-looking statements are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are based on our beliefs as well as assumptions made by and information currently available to us. Accordingly, our actual results may differ materially from those expressed or implied in such forward-looking statements due to known or unknown risks and uncertainties that exist in our operations and business environment including, but not limited to: the successful integration of acquisitions; the regulatory environment; and competition, including technological advances. For additional information on these and other risks and uncertainties, please see our filings with the Securities and Exchange Commission, including the discussion under “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Form 10-Ks and Form 10-Qs. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
Cwm LLC increased its position in shares of AptarGroup, Inc. (NYSE:ATR – Free Report) by 102.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,781 shares of the industrial products company’s stock after purchasing an additional 5,457 shares during the quarter. Cwm LLC’s holdings in AptarGroup were worth $1,315,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Azzad Asset Management Inc. ADV bought a new position in shares of AptarGroup in the third quarter valued at approximately $1,383,000. Nordea Investment Management AB bought a new stake in AptarGroup during the fourth quarter worth $7,314,000. First Trust Advisors LP boosted its position in AptarGroup by 218.1% in the third quarter. First Trust Advisors LP now owns 372,369 shares of the industrial products company’s stock worth $49,771,000 after purchasing an additional 255,291 shares during the last quarter. Aptus Capital Advisors LLC boosted its position in AptarGroup by 14.1% in the third quarter. Aptus Capital Advisors LLC now owns 63,238 shares of the industrial products company’s stock worth $8,452,000 after purchasing an additional 7,829 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in AptarGroup by 390.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 10,276 shares of the industrial products company’s stock valued at $1,253,000 after purchasing an additional 8,179 shares during the period. Hedge funds and other institutional investors own 88.52% of the company’s stock.
Insiders Place Their Bets In other news, insider Gael Touya sold 3,500 shares of AptarGroup stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $141.35, for a total value of $494,725.00. Following the completion of the transaction, the insider owned 27,963 shares in the company, valued at $3,952,570.05. This trade represents a 11.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.73% of the stock is owned by corporate insiders.
Analysts Set New Price Targets Several brokerages have recently issued reports on ATR. KeyCorp reaffirmed an “overweight” rating and set a $220.00 target price on shares of AptarGroup in a research report on Friday, January 9th. Wells Fargo & Company upgraded shares of AptarGroup from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $133.00 to $144.00 in a research report on Friday, March 20th. Weiss Ratings restated a “hold (c)” rating on shares of AptarGroup in a report on Friday, March 27th. Finally, Robert W. Baird set a $156.00 price objective on shares of AptarGroup in a research report on Monday, February 9th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, AptarGroup presently has a consensus rating of “Hold” and an average price target of $173.00.
Check Out Our Latest Report on AptarGroup
AptarGroup Stock Performance NYSE:ATR opened at $124.10 on Monday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.62 and a quick ratio of 1.16. The business has a fifty day simple moving average of $131.64 and a two-hundred day simple moving average of $126.79. AptarGroup, Inc. has a 1 year low of $103.23 and a 1 year high of $164.28. The company has a market capitalization of $7.91 billion, a P/E ratio of 21.07, a P/E/G ratio of 2.96 and a beta of 0.49.
AptarGroup (NYSE:ATR – Get Free Report) last issued its quarterly earnings results on Thursday, February 5th. The industrial products company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.01. The firm had revenue of $962.74 million for the quarter, compared to analysts’ expectations of $878.58 million. AptarGroup had a return on equity of 14.25% and a net margin of 10.40%.The business’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.52 EPS. AptarGroup has set its Q1 2026 guidance at 1.130-1.210 EPS. On average, analysts expect that AptarGroup, Inc. will post 5.38 earnings per share for the current year.
AptarGroup declared that its board has authorized a share repurchase plan on Thursday, February 5th that allows the company to repurchase $600.00 million in shares. This repurchase authorization allows the industrial products company to purchase up to 7.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.
AptarGroup Announces Dividend The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 6th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Wednesday, May 6th. AptarGroup’s dividend payout ratio (DPR) is currently 32.60%.
AptarGroup Company Profile (Free Report)
AptarGroup, Inc is a global provider of advanced dispensing, sealing and protection solutions for consumer and pharmaceutical markets. The company designs and manufactures a broad portfolio of products that enable the controlled delivery of liquids, gels, powders and aerosols. Its customer base spans beauty and personal care, home care, food and beverage, and pharmaceutical sectors, where innovation in packaging and drug‐delivery devices drives brand differentiation and regulatory compliance.
In the consumer markets, AptarGroup offers pumps, actuators, valves, closures and specialized bottles engineered for precision, convenience and sustainability.
See Also Five stocks we like better than AptarGroup Want to see what other hedge funds are holding ATR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AptarGroup, Inc. (NYSE:ATR – Free Report).
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The market expects Graphic Packaging (GPK - Free Report) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended March 2026. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.
The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on May 5. On the other hand, if they miss, the stock may move lower.
While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.
Zacks Consensus EstimateThis packaging company is expected to post quarterly earnings of $0.06 per share in its upcoming report, which represents a year-over-year change of -88.2%.
Revenues are expected to be $2.07 billion, down 2.5% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 4.86% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for Graphic Packaging?For Graphic Packaging, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -5.20%.
On the other hand, the stock currently carries a Zacks Rank of #5.
So, this combination makes it difficult to conclusively predict that Graphic Packaging will beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Graphic Packaging would post earnings of $0.34 per share when it actually produced earnings of $0.29, delivering a surprise of -14.71%.
Over the last four quarters, the company has beaten consensus EPS estimates two times.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Graphic Packaging doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Expected Results of an Industry PlayerAnother stock from the Zacks Containers - Paper and Packaging industry, AptarGroup (ATR - Free Report) , is soon expected to post earnings of $1.15 per share for the quarter ended March 2026. This estimate indicates a year-over-year change of -4.2%. Revenues for the quarter are expected to be $964.39 million, up 8.7% from the year-ago quarter.
Over the last 30 days, the consensus EPS estimate for AptarGroup has been revised 3% down to the current level. Nevertheless, the company now has an Earnings ESP of -1.09%, reflecting a lower Most Accurate Estimate.
This Earnings ESP, combined with its Zacks Rank #4 (Sell), makes it difficult to conclusively predict that AptarGroup will beat the consensus EPS estimate. The company beat consensus EPS estimates in each of the trailing four quarters.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
CRYSTAL LAKE, Ill.--(BUSINESS WIRE)--AptarGroup, Inc. (NYSE:ATR), a global leader in drug delivery and consumer product dispensing, dosing and protection technologies, today reported the following first quarter results for the period ended March 31, 2026, as compared to the corresponding period of the last fiscal year.
First Quarter 2026 Highlights
(Compared to the prior year quarter; see Non-GAAP section for full definitions; see reconciliation for Non-GAAP measures)
Reported sales increased 11% and core sales were flat Reported net income decreased 8% to $73 million and reported earnings per share decreased 4% to $1.12 Adjusted earnings per share were $1.19, a decrease of 8%, compared to the prior year at constant currency Adjusted EBITDA margin was 19.2% compared to 20.7% in the prior year Returned $131 million to shareholders through share repurchases and dividends Gael Touya named Aptar’s next CEO effective September 1, 2026 “Across the broader Pharma portfolio, we continue to see growing demand in key areas including GLP‑1 therapies, biologics, systemic nasal drug delivery, nasal decongestants, ophthalmic dispensing, and active material solutions. As anticipated, first quarter results were impacted by emergency medicine destocking, with comparisons further challenged by the exceptionally strong prior-year quarter for the prescription division. The injectables division delivered another quarter of strong, double-digit growth. Consumer dispensing also contributed positively, with volume growth across Beauty and Closures, supported by robust demand in prestige fragrance and beverage applications,” said Stephan B. Tanda, Aptar President and CEO.
First Quarter Results
For the quarter ended March 31, 2026, reported sales increased 11% to $982.9 million compared to $887.3 million in the prior year period. Core sales were flat compared to the prior year period.
First Quarter Segment Sales Analysis
(Change Over Prior Year)
Pharma
Beauty
Closures
Total AptarGroup
Reported Sales Growth
7%
19%
5%
11%
Currency Effects (1)
(7)%
(9)%
(5)%
(8)%
Acquisitions
(1)%
(7)%
0%
(3)%
Core Sales Growth
(1)%
3%
0%
0%
(1) - Currency effects are approximated by translating last year's amounts at this year's foreign exchange rates.
Pharma’s reported sales increased 7% when compared to the prior year period, with a currency contribution of 7%. Excluding acquisitions, core sales declined 1% in the quarter when compared to the prior year period. In the prescription division, sales for dispensing systems declined 10% primarily due to reduced sales in the emergency medicine category, as anticipated, while the pipeline for systemic nasal drug delivery continued to build. Consumer healthcare sales increased 4% on strong nasal decongestant and eye care solutions. Sales in the injectables division increased 20%, mainly driven by growth in demand for elastomeric components used for GLP-1, biologics and antithrombotics. Active material science solutions declined 1% due primarily to lower sales for diabetes test strips and probiotics. Adjusted EBITDA margin was 33.3%, a decrease of 150 basis points, reflecting a less favorable product mix, while royalties continued to positively impact margins.
Beauty’s reported sales increased 19% when compared to the prior year period, driven by a 9% benefit from currency changes and a 7% contribution from acquisitions, with core sales growth of 3%. There was increased demand for fragrance dispensing, as well as hair care and body care applications. Adjusted EBITDA margin was 11.1%, a decline of 100 basis points, due to less favorable product mix, primarily in North America and isolated operational disruptions at a supplier as reported last quarter.
Closures’ reported sales rose 5% from the prior year quarter and core sales were flat, with a 5% currency benefit. While product volumes were up, core sales results were negatively impacted by the pass through of lower resin pricing. Adjusted EBITDA margin was 13.1%, a decline of 270 basis points, primarily due to the previously reported maintenance issues, temporary plant closures as a result of extreme weather in North America and certain investment write offs.
Reported first quarter earnings per share were $1.12 compared to $1.17 reported a year ago. Adjusted earnings per share were $1.19, compared to the prior year period’s adjusted earnings per share of $1.30, including comparable exchange rates. The first quarter reported effective tax rate was 22.4% and the adjusted effective tax rate was 22.6%, compared to the prior year period’s reported and adjusted effective tax rates of 25.8%.
Outlook
Regarding Aptar’s outlook, Tanda stated, “Looking ahead to Q2, excluding destocking in emergency medicine within Pharma, we anticipate a solid quarter with growth across each segment. Outside of the emergency medicine end market, our prescription division is expected to return to healthy growth, and we anticipate growth across a number of pharma end markets mainly due to strength in our injectables and consumer healthcare divisions. We also anticipate a strong quarter for Closures and continued growth in Beauty, particularly in fragrance. Heading into the quarter, we remain mindful of potential supply‑chain uncertainties as we continue to operate in a dynamic environment.”
Aptar currently expects adjusted earnings per share for the second quarter of 2026 to be in the range of $1.32 to $1.40. This guidance assumes an effective tax rate range of 22.5% to 24.5%. The earnings per share guidance range is assuming a 1.18 Euro to USD exchange rate.
Cash Dividends and Share Repurchases
As previously announced, Aptar’s Board of Directors approved a quarterly cash dividend of $0.48 per share. The payment date is May 27, 2026, to stockholders of record as of May 6, 2026. During the first quarter, Aptar repurchased 707 thousand shares for $100 million. Aptar may repurchase shares through the open market, privately negotiated transactions or other programs, subject to market conditions.
Open Conference Call
There will be a conference call held on Friday, May 1, 2026 at 8:00 a.m. Central Time to discuss the company’s first quarter results for 2026. The call will last approximately one hour. Interested parties are invited to listen to a live webcast by visiting the Investor Relations website at investors.aptar.com. Replay of the conference call can also be accessed for a limited time on the Investor Relations page of the website.
About Aptar
Aptar is a global leader in drug delivery and consumer product dosing, dispensing and protection technologies. Aptar serves a number of attractive end markets including pharmaceutical, beauty, food, beverage, personal care and home care. Using market expertise, proprietary design, engineering and science to create innovative solutions for many of the world’s leading brands, Aptar in turn makes a meaningful difference in the lives, looks, health and homes of millions of patients and consumers around the world. Aptar is headquartered in Crystal Lake, Illinois and has more than 14,000 dedicated employees in 20 countries. For more information, visit www.aptar.com.
Presentation of Non-GAAP Information
This press release refers to certain non-GAAP financial measures, including current year adjusted earnings per share and adjusted EBITDA, which exclude the impact of restructuring initiatives, acquisition-related costs, certain purchase accounting adjustments related to acquisitions and investments and net unrealized investment gains and losses related to observable market price changes on equity securities, and other special items. Core sales and adjusted earnings per share also neutralize the impact of foreign currency translation effects when comparing current results to the prior year. Adjusted EBITDA is defined as earnings before net interest, taxes, depreciation, amortization, restructuring initiatives, acquisition-related costs, net unrealized investment gains and losses related to observable market price changes on equity securities and other special items. For the quarter ended March 31, 2026, “Other special items” include costs incurred related to non-ordinary-course litigation, specifically: lawsuits between Aptar and ARS Pharmaceuticals, Inc., involving Aptar’s claims of trade-secret misappropriation and contractual breaches and ARS’s lawsuit against Aptar under U.S. antitrust laws; and patent infringement actions filed by Nemera La Verpillière SAS in Germany and France relating to certain of Aptar’s ophthalmic products. These costs are excluded because they do not reflect our core operating performance. Please refer to “Legal Proceedings” within Note 13 - Commitments and Contingencies within Aptar’s Form 10-K for the year ended December 31, 2025 and subsequent SEC filings for more information. Adjusted EBITDA margin is adjusted EBITDA divided by reported net sales. Non-GAAP financial measures may not be comparable to similarly titled non-GAAP financial measures provided by other companies. Aptar’s management believes these non-GAAP financial measures provide useful information to our investors because they allow for a better period over period comparison of operating results by removing the impact of items that, in management’s view, do not reflect Aptar’s core operating performance. These non-GAAP financial measures also provide investors with certain information used by Aptar’s management when making financial and operational decisions. Free cash flow is calculated as cash provided by operating activities less capital expenditures plus proceeds from government grants related to capital expenditures. We believe that it is meaningful to investors in evaluating our financial performance and measuring our ability to generate cash internally to fund our initiatives. These non-GAAP financial measures should not be considered in isolation or as a substitute for GAAP financial results but should be read in conjunction with the unaudited condensed consolidated statements of income and other information presented herein. A reconciliation of non-GAAP financial measures to the most directly comparable GAAP measures is included in the accompanying tables. Our outlook is provided on a non-GAAP basis because certain reconciling items are dependent on future events that either cannot be controlled, such as exchange rates and changes in the fair value of equity investments, or reliably predicted because they are not part of the company's routine activities, such as restructuring, acquisition costs and other special items.
This press release contains forward-looking statements, including certain statements set forth under the “Outlook” section of this press release. Words such as “expects,” “anticipates,” “believes,” “estimates,” “future,” “potential,” “continues” and other similar expressions or future or conditional verbs such as “will,” “should,” “would” and “could” are intended to identify such forward-looking statements. Forward-looking statements are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are based on our beliefs as well as assumptions made by and information currently available to us. Accordingly, our actual results or other events may differ materially from those expressed or implied in such forward-looking statements due to known or unknown risks and uncertainties that exist in our operations and business environment including, but not limited to: geopolitical conflicts worldwide and the resulting indirect impact on demand from our customers selling their products into these countries, as well as rising input costs and certain supply chain disruptions; cybersecurity threats against our systems and/or service providers that could impact our networks and reporting systems; the availability of raw materials and components (particularly from sole sourced suppliers for some of our Pharma solutions) as well as the financial viability of these suppliers; our ability to protect and defend our intellectual property rights, as well as litigation involving intellectual property rights; the outcome of any legal proceeding that has been or may be instituted against us and others; lower demand and asset utilization due to an economic recession either globally or in key markets we operate within; economic conditions worldwide, including inflationary conditions and potential deflationary conditions in other regions we rely on for growth; competition, including technological advances; significant tariffs and other restrictions on foreign imports imposed by the U.S. and related countermeasures taken by impacted foreign countries; our ability to successfully implement facility expansions and new facility projects; fluctuations in the cost of materials, components, transportation cost as a result of supply chain disruptions and labor shortages, and other input costs; significant fluctuations in foreign currency exchange rates or our effective tax rate; the impact of tax reform legislation, changes in tax rates and other tax-related events or transactions that could impact our effective tax rate; financial conditions of customers and suppliers; consolidations within our customer or supplier bases; changes in customer and/or consumer spending levels; loss of one or more key accounts; our ability to offset inflationary impacts with cost containment, productivity initiatives and price increases; changes in capital availability or cost, including rising interest rates; loss of royalty revenue due to contract expirations; volatility of global credit markets; our ability to identify potential new acquisitions and to successfully acquire and integrate such operations, including the successful integration of the businesses we have acquired; our ability to build out acquired businesses and integrate the product/service offerings of the acquired entities into our existing product/service portfolio; direct or indirect consequences of acts of war, terrorism or social unrest; the impact of natural disasters and other weather-related occurrences; fiscal and monetary policies and other regulations; changes, difficulties or failures in complying with government regulation, including FDA or similar foreign governmental authorities; changing regulations or market conditions regarding environmental sustainability; our ability to retain key members of management and manage labor costs; work stoppages due to labor disputes; our ability to meet future cash flow estimates to support our goodwill impairment testing; the demand for existing and new products; the success of our customers’ products, particularly in the pharmaceutical industry; our ability to manage worldwide customer launches of complex technical products, particularly in developing markets; difficulties in product development and uncertainties related to the timing or outcome of product development; significant product liability claims; and other risks associated with our operations. For additional information on these and other risks and uncertainties, please see our filings with the Securities and Exchange Commission, including the discussion under “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Form 10-K and Form 10-Qs. We undertake no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Adjustments to reconcile net income to net cash provided by operations:
Depreciation
64,310
54,903
Amortization
11,415
10,744
Stock-based compensation
16,764
19,193
Provision for CECL
644
35
Loss (gain) on disposition of fixed assets
81
(271
)
Net loss on remeasurement of equity securities
1,086
1,096
Deferred income taxes
(4,567
)
(1,860
)
Defined benefit plan expense
3,443
3,277
Equity in results of affiliates
(714
)
(2,086
)
Impairment loss
901
—
Changes in balance sheet items, excluding effects from foreign currency adjustments:
Accounts and other receivables
(33,030
)
(69,247
)
Inventories
(16,943
)
(6,043
)
Prepaid and other current assets
(12,393
)
(12,617
)
Accounts payable, accrued and other liabilities
36,422
33,324
Income taxes payable
103
(7,195
)
Retirement and deferred compensation plan
(15,271
)
(11,751
)
Other changes, net
(6,324
)
(7,423
)
Net Cash Provided by Operations
118,694
82,742
Cash Flows from Investing Activities:
Capital expenditures
(65,396
)
(56,862
)
Proceeds from sale of property, plant and equipment
1,327
79
Purchases of short-term investments, net
(103
)
(88
)
Acquisition of intangible assets, net
(592
)
(2,475
)
Notes receivable, net
(335
)
2,714
Net Cash Used by Investing Activities
(65,099
)
(56,632
)
Cash Flows from Financing Activities:
Proceeds from notes payable and overdrafts
2,930
79
Repayments of notes payable and overdrafts
(2,895
)
—
Proceeds and (repayments) of short term revolving credit facility, net
7,000
(23,880
)
Proceeds from long-term obligations
5,037
124
Repayments of long-term obligations
(127,927
)
(4,552
)
Payment of contingent consideration obligation
(2,197
)
—
Dividends paid
(30,920
)
(29,923
)
Proceeds from stock option exercises
18,516
3,375
Purchase of treasury stock
(99,973
)
(80,000
)
Redeemable noncontrolling interest
89
—
Net Cash Used by Financing Activities
(230,340
)
(134,777
)
Effect of Exchange Rate Changes on Cash
(3,150
)
10,662
Net Decrease in Cash and Equivalents and Restricted Cash
(179,895
)
(98,005
)
Cash and Equivalents and Restricted Cash at Beginning of Period
404,849
223,844
Cash and Equivalents and Restricted Cash at End of Period
$
224,954
$
125,839
AptarGroup, Inc.
Reconciliation of Adjusted EBIT and Adjusted EBITDA to Net Income (Unaudited)
($ In Thousands)
Three Months Ended
March 31, 2026
Consolidated
Pharma
Beauty
Closures
Corporate
& Other
Net Interest
Net Sales
$
982,868
$
438,560
$
363,635
$
180,673
$
—
$
—
Reported net income
$
72,767
Reported income taxes
21,004
Reported income before income taxes
93,771
106,658
14,458
9,184
(23,229
)
(13,300
)
Adjustments:
Restructuring initiatives
1,086
5
1,301
249
(469
)
Net investment loss
1,086
—
—
—
1,086
Transaction costs related to acquisitions
45
45
—
—
—
Purchase accounting adjustments related to acquisitions and investments
145
145
—
—
—
Other special items
3,727
3,727
—
—
—
Adjusted earnings before income taxes
99,860
110,580
15,759
9,433
(22,612
)
(13,300
)
Interest expense
16,942
16,942
Interest income
(3,642
)
(3,642
)
Adjusted earnings before net interest and taxes (Adjusted EBIT)
113,160
110,580
15,759
9,433
(22,612
)
—
Depreciation and amortization
75,725
35,643
24,723
14,224
1,135
Adjusted earnings before net interest, taxes, depreciation and amortization (Adjusted EBITDA)
$
188,885
$
146,223
$
40,482
$
23,657
$
(21,477
)
$
—
Reported net income margins (Reported net income / Reported Net Sales)
7.4
%
Adjusted EBITDA margins (Adjusted EBITDA / Reported Net Sales)
19.2
%
33.3
%
11.1
%
13.1
%
Three Months Ended
March 31, 2025
Consolidated
Pharma
Beauty
Closures
Corporate
& Other
Net Interest
Net Sales
$
887,305
$
409,467
$
305,707
$
172,131
$
—
$
—
Reported net income
$
78,663
Reported income taxes
27,352
Reported income before income taxes
106,015
111,112
16,681
12,333
(25,574
)
(8,537
)
Adjustments:
Restructuring initiatives
2,042
190
395
1,352
105
Net investment loss
1,096
—
—
—
1,096
Adjusted earnings before income taxes
109,153
111,302
17,076
13,685
(24,373
)
(8,537
)
Interest expense
11,351
11,351
Interest income
(2,814
)
(2,814
)
Adjusted earnings before net interest and taxes (Adjusted EBIT)
117,690
111,302
17,076
13,685
(24,373
)
—
Depreciation and amortization
65,647
31,148
20,062
13,575
862
—
Adjusted earnings before net interest, taxes, depreciation and amortization (Adjusted EBITDA)
$
183,337
$
142,450
$
37,138
$
27,260
$
(23,511
)
$
—
Reported net income margins (Reported net income / Reported Net Sales)
8.9
%
Adjusted EBITDA margins (Adjusted EBITDA / Reported Net Sales)
20.7
%
34.8
%
12.1
%
15.8
%
AptarGroup, Inc.
Reconciliation of Adjusted Earnings Per Diluted Share (Unaudited)
(In Thousands, Except Per Share Data)
Three Months Ended
March 31,
2026
2025
Income before Income Taxes
$
93,771
$
106,015
Adjustments:
Restructuring initiatives
1,086
2,042
Net investment loss
1,086
1,096
Transaction costs related to acquisitions
45
—
Purchase accounting adjustments related to acquisitions and investments
145
—
Other special items
3,727
—
Foreign currency effects (1)
8,992
Adjusted Earnings before Income Taxes
$
99,860
$
118,145
Provision for Income Taxes
$
21,004
$
27,352
Adjustments:
Restructuring initiatives
279
506
Net investment loss
266
269
Transaction costs related to acquisitions
11
—
Purchase accounting adjustments related to acquisitions and investments
49
—
Other special items
953
—
Foreign currency effects (1)
2,320
Adjusted Provision for Income Taxes
$
22,562
$
30,447
Net (Income) Loss Attributable to Noncontrolling Interests
$
(4
)
$
135
Net Income Attributable to Redeemable Noncontrolling Interests
$
(89
)
$
—
Net Income Attributable to AptarGroup, Inc.
$
72,674
$
78,798
Adjustments:
Restructuring initiatives
807
1,536
Net investment loss
820
827
Transaction costs related to acquisitions
34
—
Purchase accounting adjustments related to acquisitions and investments
96
—
Other special items
2,774
—
Foreign currency effects (1)
6,672
Adjusted Net Income Attributable to AptarGroup, Inc.
$
77,205
$
87,833
Average Number of Diluted Shares Outstanding
64,834
67,491
Net Income Attributable to AptarGroup, Inc. Per Diluted Share
$
1.12
$
1.17
Adjustments:
Restructuring initiatives
0.01
0.02
Net investment loss
0.01
0.01
Transaction costs related to acquisitions
—
—
Purchase accounting adjustments related to acquisitions and investments
—
—
Other special items
0.05
—
Foreign currency effects (1)
0.10
Adjusted Net Income Attributable to AptarGroup, Inc. Per Diluted Share
$
1.19
$
1.30
(1) Foreign currency effects are approximations of the adjustment necessary to state the prior year earnings and earnings per share using current period foreign currency exchange rates.
AptarGroup, Inc.
Reconciliation of Free Cash Flow to Net Cash Provided by Operations (Unaudited)
(In Thousands)
Three Months Ended
March 31,
2026
2025
Net Cash Provided by Operations
$
118,694
$
82,742
Capital Expenditures
(65,396
)
(56,862
)
Free Cash Flow
$
53,298
$
25,880
AptarGroup, Inc.
Reconciliation of Adjusted Earnings Per Diluted Share (Unaudited)
(In Thousands, Except Per Share Data)
Three Months Ending
June 30,
Expected 2026
2025
Income before Income Taxes
$
139,714
Adjustments:
Restructuring initiatives
1,579
Net investment gain
(2,102
)
Transaction costs related to acquisitions
344
Foreign currency effects (1)
919
Adjusted Earnings before Income Taxes
$
140,454
Provision for Income Taxes
$
27,982
Adjustments:
Restructuring initiatives
421
Net investment gain
(515
)
Transaction costs related to acquisitions
86
Foreign currency effects (1)
184
Adjusted Provision for Income Taxes
$
28,158
Net Income Attributable to Noncontrolling Interests
$
(12
)
Net Income Attributable to AptarGroup, Inc.
$
111,720
Adjustments:
Restructuring initiatives
1,158
Net investment gain
(1,587
)
Transaction costs related to acquisitions
258
Foreign currency effects (1)
735
Adjusted Net Income Attributable to AptarGroup, Inc.
$
112,284
Average Number of Diluted Shares Outstanding
67,048
Net Income Attributable to AptarGroup, Inc. Per Diluted Share (3)
$
1.67
Adjustments:
Restructuring initiatives
0.02
Net investment gain
(0.03
)
Transaction costs related to acquisitions
—
Foreign currency effects (1)
0.01
Adjusted Net Income Attributable to AptarGroup, Inc. Per Diluted Share (2)
$1.32 - $1.40
$
1.67
(1) Foreign currency effects are approximations of the adjustment necessary to state the prior year earnings and earnings per share using current spot rates for all applicable foreign currency exchange rates.
(2) AptarGroup’s expected adjusted earnings per share range for the second quarter of 2026, see non-GAAP section for full definition, is based on an effective tax rate range of 22.5% to 24.5%. This tax rate range compares to our second quarter of 2025 effective tax rate of 20.0% on both reported and adjusted earnings per share. More News From AptarGroup, Inc.
AptarGroup (ATR - Free Report) came out with quarterly earnings of $1.19 per share, beating the Zacks Consensus Estimate of $1.15 per share. This compares to earnings of $1.2 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +3.25%. A quarter ago, it was expected that this maker of consumer-product dispensing systems would post earnings of $1.24 per share when it actually produced earnings of $1.25, delivering a surprise of +0.81%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
AptarGroup, which belongs to the Zacks Containers - Paper and Packaging industry, posted revenues of $982.87 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 1.92%. This compares to year-ago revenues of $887.3 million. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
AptarGroup shares have added about 0.8% since the beginning of the year versus the S&P 500's gain of 4.2%.
What's Next for AptarGroup?While AptarGroup 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 AptarGroup was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.31 on $999.46 million in revenues for the coming quarter and $5.38 on $3.94 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, Containers - Paper and Packaging is currently in the bottom 19% 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.
Karat Packing (KRT - Free Report) , another stock in the same industry, has yet to report results for the quarter ended March 2026. The results are expected to be released on May 7.
This company is expected to post quarterly earnings of $0.32 per share in its upcoming report, which represents a year-over-year change of -3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Karat Packing's revenues are expected to be $113 million, up 9.1% from the year-ago quarter.
On May 01, 2026, AptarGroup Inc ATR shares fell 3.8% to a current price of $119.02. The stock has experienced significant volatility over the past year, with a 52-week range between $103.23 and $164.28. The recent decline adds to its performance challenges, as the stock has lost 18.9% in the past year and is down 2.0% year-to-date.
GF Value™ verdict: The current price is $119.02, compared to a GF Value™ estimate of $152.14, indicating a 21.8% undervaluation.GF Score™: 91/100 (Strong), suggesting potential for higher long-term returns.Notable signal: Insider activity shows that insiders sold $0.8 million worth of shares in the last three months, indicating a lack of buying interest. Is ATR Overvalued or Undervalued? AptarGroup Inc ATR is currently trading below its GF Value™ estimate of $152.14, which suggests that the stock is undervalued by approximately 21.8%. This margin of safety may present a buying opportunity for investors seeking value; however, caution is warranted given the recent insider selling. The GF Valuation label indicates that the stock is considered modestly undervalued, which aligns well with its current price being significantly lower than its intrinsic value.
GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates. While the undervaluation suggests potential upside, the lack of insider buying and the recent downward price trend may indicate underlying concerns that should be addressed before making any investment decisions.
How Does ATR's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 20.4x 31.1x (5-Year Median) Forward P/E 21.5x N/A AptarGroup's current P/E (TTM) of 20.4x is significantly below its 5-year median P/E of 31.1x, indicating that the stock is trading at a lower valuation compared to its historical averages. This P/E analysis supports the GF Value™ verdict of undervaluation, suggesting that ATR may be an appealing option for value-focused investors.
What Does ATR's GF Score™ Tell Us? The GF Score™ ranks stocks based on key aspects that help investors gauge their potential for superior returns. Here are the scores for AptarGroup Inc:
Metric Rating GF Score™ 91/100 Financial Strength 7/10 Profitability 8/10 Growth 9/10 Valuation 8/10 Momentum 5/10 The strong GF Score™ of 91/100 reflects robust prospects, particularly in growth (9/10) and profitability (8/10), indicating that the company has a solid financial foundation and growth trajectory. However, the momentum score of 5/10 suggests that the stock may currently be facing headwinds, reflected in its recent price declines. Hence, while the overall assessment is positive, investors may need to consider the mixed signals from momentum before making decisions.
What Are Insiders Doing with ATR Stock? In the past three months, insiders at AptarGroup have sold $0.8 million worth of shares, with no reported insider buying during this timeframe. This selling activity could suggest a lack of confidence from insiders regarding the company's short-term prospects or valuation. While insider selling does not automatically imply negative performance, it can indicate that those closest to the company may not expect significant short-term upside. Investors should take this into consideration alongside other valuation metrics and market conditions.
What This Means for Investors Based on the analysis, AptarGroup Inc ATR appears to be undervalued according to the GF Value™ assessment, which indicates a significant margin of safety. However, potential investors should weigh this against the recent insider selling and the stock's performance trends, as these factors could signal caution regarding immediate investment decisions.
For the complete analysis, visit the AptarGroup Inc ATR 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 ATR's GF Score™?
ATR's GF Score™ is 91/100, indicating strong potential for higher long-term returns based on its financial health, profitability, growth prospects, and valuation metrics.
Is ATR overvalued or undervalued?
ATR is considered undervalued, with a GF Value™ of $152.14 compared to its current price of $119.02, suggesting a potential upside of 21.8%.
What is ATR's P/E ratio?
ATR's P/E (TTM) ratio is 20.4x, which is significantly below its 5-year median of 31.1x, indicating that the stock is trading at a lower valuation compared to its historical averages.
This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].
PENSACOLA, Fla., May 04, 2026 (GLOBE NEWSWIRE) -- Advanced Technology Recycling (ATR), a leading IT Asset Management and Electronics Refurbishment company, is pleased to announce that we are now offering wholesale electronics to the general public through our online auction site.
The newly rebuilt platform will offer bidding opportunities for personal and commercial buyers at all levels. Bidders will have access to millions of dollars' worth of refurbished electronics, including, but not limited to, computers, phones, servers, RAM, and other devices certified under the R2v3 Ready-for-Resale renewal process.
Buying through our new auction site gives customers direct access to ATR’s Renewed in America products: quality electronics renewed through trusted U.S. facilities that support responsible reuse and help keep valuable technology out of landfills. Every purchase helps advance sustainability while supporting American refurbishment, logistics, ecommerce, and technical jobs across ATR’s nationwide operations.
ATR also offers premium products through ATRStore.com, where customers can shop new-in-box items, Grade-A products, and a wide range of accessories at discounted rates. For buyers searching for hard-to-find items, specialty electronics, and collectibles, ATR also makes unique inventory and discounted electronics available through our three eBay stores. Together, these platforms give customers more ways to purchase virtually any electronic or technological device, in quantities that meet their individual needs, at discounted prices.
The R2 Ready for Resale renewal process ensures each product is carefully received, evaluated, tested, data-sanitized when applicable, and prepared for its next user through a responsible reuse channel. Items that meet resale standards are thoroughly tested, verified for functionality, and listed with clear condition details, giving customers confidence in exactly what they are purchasing. This process helps extend the useful life of quality electronics, so renewed products should absolutely be considered a smart, reliable, and sustainable purchase option.
“ATR’s auction site gives you a smarter way to save money on renewed products while creating U.S jobs, reducing electronic waste, and buying directly from a trusted source,” said Matthew Beer, eCommerce Manager for ATR
Getting started is simple and non-invasive: customers only need to register to bid, then can securely browse products, place bids, receive winning notifications, and initiate checkout processes through the site. We will not spam customers or abuse their contact information; account details are used to support a safe auction experience, purchase communication, billing, and secure order management. The platform is built around familiar auction and ecommerce features, including registered bidding, product photos and descriptions, private questions, winning notifications, billing entry, checkout, and supported payment processing.
“ATR makes it easy for new customers to sell equipment that does not require guaranteed destruction or line-by-line asset management reporting, offering a streamlined path for responsible recovery and resale. We welcome the opportunity to review what you have available, provide a competitive bid, and discuss practical equipment lifecycle solutions tailored to your needs. Interested parties looking to sell equipment to ATR can contact us at [email protected],” said Brodie Ehresman, Director of Marketing.
Visit ATRauctions.com today to start bidding on quality Renewed in America products that help you save money while supporting the reuse of sustainable technology. Organizations with surplus equipment can trust ATR for practical ITAD and Value Recovery solutions designed to maximize returns and extend the life of usable technology. To learn more, search Advanced Technology Recycling on Google and connect with a trusted leader in responsible electronics recovery.
About ATR
ATR is a certified woman-owned company and a nationally recognized leader in electronics recycling and IT asset management, proudly headquartered in Pensacola, FL. As an R2v3/RIOS certified company, ATR upholds the highest standards of environmental sustainability, data security, and responsible recycling. We are approved by the U.S. State Department for ITAR (International Traffic in Arms Regulations) disposal programs and offer GSA (General Services Administration) discounts to all federal agencies. With a deep commitment to providing comprehensive life cycle management services, ATR has built a reputation as an industry leader, delivering the most robust and trusted service portfolio in the market.
Key Takeaways AptarGroup beat Q1 earnings and sales estimates, but profit fell Y/Y and shares dipped 1%.ATR's Pharma unit faced destocking pressure, hurting prescription sales despite growth in injectables.AptarGroup saw margin compression from higher costs, weaker mix and operational disruptions. Shares of AptarGroup, Inc. (ATR - Free Report) have dipped 1% since posting first-quarter 2026 adjusted earnings of $1.19 per share on Thursday. Adjusted earnings declined 8% from $1.30 a year ago on a less favorable mix and pharma-related headwinds. However, the bottom line topped the Zacks Consensus Estimate of $1.15.
Quarterly sales rose 10.8% year over year to $983 million and beat the consensus mark of $964 million by 2%.
ATR’s Pharma Results Reflect Destocking HeadwindsPharma segment sales increased 7.1% year over year to $439 million. The reported figure missed our estimate of $454 million. The reported gain was aided by currency and a small acquisition contribution, while core sales slipped 1% on tougher comparisons in the prescription business.
Within Pharma, prescription core sales declined 10% as dispensing systems tied to emergency medicine were pressured by destocking. Offsetting this, consumer healthcare core sales increased 4% on nasal decongestant and eye-care solutions, while injectables delivered 20% core growth.
The Pharma segment posted adjusted EBITDA of $146 million compared with the prior-year quarter’s $142 million. We predicted adjusted EBITDA of $140 million for the segment.
AptarGroup’s Beauty Benefits From Fragrance DemandThe Beauty segment’s sales advanced 19% year over year to $364 million. The reported figure beat our estimate of $324 million. Core sales grew 3% as demand improved across fragrance dispensing and select personal care applications, with acquisitions and currency providing additional lift.
Profitability in Beauty was softer despite sales growth. Adjusted EBITDA came in at $40 million compared with the prior-year quarter’s $37 million. We predicted adjusted EBITDA of $34.5 million for the segment.
ATR’s Closures Sees Pricing Offset Volume GainsThe Closures segment’s sales increased 5% to $181 million. The reported figure beat our estimate of $177 million. While product volumes improved, core sales were flat because results were weighed down by the pass-through of lower resin pricing.
Margins were notably weaker in the segment. Adjusted EBITDA fell to $23.6 million compared with the prior-year quarter’s $27 million, driven by maintenance issues and temporary plant closures tied to extreme weather in North America, as well as certain investment write-offs. We predicted the segment’s adjusted EBITDA to be $28 million.
AptarGroup’s Profit Picture Shows Margin CompressionOn a reported basis, diluted earnings per share were $1.12 compared with $1.17 in the year-ago quarter. Operating income decreased to $107.5 million from $113.4 million as higher costs, and heavier depreciation and amortization weighed on results.
Adjusted EBITDA totaled $183 million compared with $189 million a year ago, translating to an adjusted EBITDA margin of 19.2%, down from the prior-year quarter’s 20.7%.
ATR’s Balance Sheet UpdatesAptarGroup ended the quarter with cash and equivalents of $222.5 million, down from $402 million at the end of 2025. Net cash provided by operating activities increased to $119 million from $83 million in the prior-year quarter.
Capital allocation remained shareholder-friendly. ATR repurchased 707 thousand shares for $100 million, returning $131 million to shareholders. The company’s consolidated leverage ratio stood at 1.43 at the quarter-end.
AptarGroup’s Q2 View Points to Broader-Based GrowthFor the second quarter of 2026, the company expects adjusted earnings per share of $1.32-$1.40.
Looking beyond the near term, AptarGroup expects 2026 capital investments of $260-$280 million, with most allocated to Pharma, and depreciation and amortization of $310-$320 million.
ATR Stock’s Price PerformanceThe company’s shares have lost 18.4% in the past year compared with the industry’s 8.7% decline.
Image Source: Zacks Investment Research
AptarGroup’s Zacks RankATR currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Performances of ATR’s PeersSonoco Products Company (SON - Free Report) delivered adjusted earnings of $1.20 per share in the first quarter of fiscal 2026, topping the Zacks Consensus Estimate of $1.19 by 0.84%. The figure declined 13% from $1.38 in the year-ago quarter.
Sonoco’s net sales were $1.68 billion, declining 1.9% year over year and lagging the Zacks Consensus Estimate of $1.71 billion by 1.95%. Pricing actions and productivity were key offsets to softer volume/mix during the quarter. SON’s top line dipped from the prior-year period primarily due to the absence of sales from the ThermoSafe temperature-assured packaging business, which was divested in November 2025.
Packaging Corporation of America (PKG - Free Report) posted adjusted earnings of $2.40 per share in the first quarter of 2026, up 3.9% from $2.31 a year ago. Packaging Corp’s results beat the Zacks Consensus Estimate of earnings $2.17 by 10.6%.
Net sales rose 10.6% year over year to $2.37 billion but missed the consensus mark of $2.41 billion by 1.9%. Favorable pricing and mix, along with lower fiber costs, supported Packaging Corp’s results, though special items weighed on reported profitability.
Avery Dennison Corporation (AVY - Free Report) registered adjusted earnings of $2.47 per share for the first quarter of 2026, rising 7.4% from the year-ago period and beating the Zacks Consensus Estimate of $2.41. Avery Dennison’s revenues were $2.298 billion, growing 7% year over year and surpassing the consensus mark of $2.271 billion by 1.2%.
Sales advanced 2.3%, excluding currency, as a 4.7% foreign-currency headwind weighed on reported growth. Organic sales increased 1.1%, while acquisitions were a 1.2% drag on the quarter’s growth bridge.
CocaCola (NYSE:KO) EVP Jennifer Mann Sells 23,984 SharesMarketBeat
CocaCola Company (The) (NYSE:KO - Get Free Report) EVP Jennifer Mann sold 23,984 shares of the firm's stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $83.41, for a total value of $2,000,505.44. Following the completion of the transaction, the executive vice president owned 157,400 shares of the company's stock, valued at approximately $13,128,734. The trade was a 13.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
NYSE:KO
Read CocaCola (NYSE:KO) EVP Jennifer Mann Sells 23,984 Shares
3 hours ago
Dutch Bros (NYSE:BROS) Major Shareholder Sells $15,759,829.98 in StockMarketBeat
Dutch Bros Inc. (NYSE:BROS - Get Free Report) major shareholder Dm Individual Aggregator, Llc sold 261,054 shares of the company's stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $60.37, for a total transaction of $15,759,829.98. Following the completion of the sale, the insider owned 2,671,855 shares in the company, valued at $161,299,886.35. This represents a 8.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.
NYSE:BROS
Read Dutch Bros (NYSE:BROS) Major Shareholder Sells $15,759,829.98 in Stock
3 hours ago
Insider Selling: Dutch Bros (NYSE:BROS) Major Shareholder Sells 261,055 Shares of StockMarketBeat
Dutch Bros Inc. (NYSE:BROS - Get Free Report) major shareholder Dm Individual Aggregator, Llc sold 261,055 shares of the business's stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $63.02, for a total value of $16,451,686.10. Following the completion of the transaction, the insider owned 2,410,800 shares in the company, valued at approximately $151,928,616. This trade represents a 9.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.
NYSE:BROS
Read Insider Selling: Dutch Bros (NYSE:BROS) Major Shareholder Sells 261,055 Shares of Stock
3 hours ago
Travis Boersma Sells 749,999 Shares of Dutch Bros (NYSE:BROS) StockMarketBeat
Dutch Bros Inc. (NYSE:BROS - Get Free Report) Chairman Travis Boersma sold 749,999 shares of Dutch Bros stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $60.39, for a total transaction of $45,292,439.61. Following the completion of the sale, the chairman owned 2,671,855 shares of the company's stock, valued at $161,353,323.45. This represents a 21.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Dutch Bros Inc. (NYSE:BROS - Get Free Report) Chairman Travis Boersma sold 750,000 shares of the company's stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $63.02, for a total value of $47,265,000.00. Following the sale, the chairman owned 2,410,800 shares in the company, valued at approximately $151,928,616. This trade represents a 23.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
CRYSTAL LAKE, Ill.--(BUSINESS WIRE)--AptarGroup, Inc. (NYSE: ATR), a global leader in drug delivery, dosing and protection technologies, and consumer product dispensing, today announced that it will present at two upcoming investor conferences:
Jefferies Global Healthcare Conference in New York, NY on Wednesday, June 3, 2026. Vanessa Kanu, Executive Vice President and CFO, will present at 12:45 p.m. Eastern Standard Time. Wells Fargo Industrials and Materials Conference in Chicago, IL on Tuesday, June 9, 2026. Vanessa Kanu, Executive Vice President and CFO, will present at 1:45 p.m. Eastern Standard Time. A live audio webcast and presentation materials will be available in the "Investors" section of the Company's website at www.aptar.com.
About Aptar
Aptar is a global leader in drug delivery, dosing and protection technologies, and consumer product dispensing. Aptar partners with the world’s top healthcare and consumer brands to deliver medicines and create exceptional user experiences. Serving diverse markets, from pharmaceutical to beauty to food and beverage, Aptar combines market expertise with proprietary design, engineering and science to develop innovative solutions that help improve lives worldwide. Headquartered in Crystal Lake, Illinois, Aptar employs 14,000 dedicated people across 20 countries. Learn more at http://www.aptar.com.
CRYSTAL LAKE, Ill.--(BUSINESS WIRE)--AptarGroup, Inc. (NYSE: ATR), a global leader in drug delivery, dosing and protection technologies, and consumer product dispensing, was named a CDP Supplier Engagement Leader, for the sixth consecutive year. This assessment, based on information reported within the 2025 CDP reporting cycle, highlights companies that are engaging their suppliers on climate change and supporting efforts to address emissions throughout the value chain.
By evaluating supplier engagement and recognizing best practices, CDP aims to accelerate global action on supply chain emissions and the transition towards a more sustainable economy. Aptar received an ‘A’ score on the Supplier Engagement Assessment (SEA), which is in the leadership band. As part of Aptar’s global sustainability strategy, the Company is working to cultivate a supply chain that is both socially inclusive and environmentally conscious, in support of customer and consumer needs.
In recent years, Aptar has continued to work with suppliers to support emission-reduction efforts aligned with its validated science-based targets and Carbon Transition Plan. More than 90% of Aptar’s total emissions are Scope 3 emissions, with over 80% of these linked to purchased goods and services, primarily raw materials such as plastics. For this reason, Aptar collaborates with suppliers, particularly those providing raw materials, to identify potential lower-carbon alternatives and advance circularity through product design and material selection.
Aptar’s Purchasing teams engage suppliers through both one-on-one collaboration and structured forums such as the Aptar Global Supplier Summit. The 2026 summit further strengthened collaboration through targeted challenge briefs, innovation exchanges, and dedicated working sessions that connected suppliers with Aptar teams to address operational and sustainability priorities. These interactions are designed to support alignment with Aptar’s sustainability strategy while advancing practical, supplier-led solutions. In parallel, Aptar continues to strengthen expectations for supplier performance and transparency. Aptar’s expectations of suppliers include sharing environmental data, participating in assessments and screening programs, and contributing to initiatives focused on materials, emissions reduction, and responsible sourcing.
The Supplier Engagement Assessment methodology provides a score which assesses supplier action as reported by a company’s CDP response. The score assesses the level of detail and comprehensiveness of the content, as well as the company’s awareness of climate change issues, management methods and progress towards action taken on climate change as reported in the response. The highest-rated companies are recognized as Supplier Engagement Leaders on the CDP website. For more information on Aptar’s sustainability progress, including its responsible supply chain efforts, visit aptar.com/sustainability.
About Aptar
Aptar is a global leader in drug delivery, dosing and protection technologies, and consumer product dispensing. Aptar partners with the world’s top healthcare and consumer brands to deliver medicines and create exceptional user experiences. Serving diverse markets, from pharmaceutical to beauty to food and beverage, Aptar combines market expertise with proprietary design, engineering and science to develop innovative solutions that help improve lives worldwide. Headquartered in Crystal Lake, Illinois, Aptar employs 14,000 dedicated people across 20 countries. Learn more at http://www.aptar.com.
This press release contains forward-looking statements, including statements regarding Aptar’s sustainability strategy, supplier engagement and collaboration, emissions-reduction efforts, science-based targets and Carbon Transition Plan, and related expectations regarding lower-carbon alternatives, circularity, supplier performance and transparency. Forward-looking statements generally can be identified by the fact that they do not relate strictly to historical or current facts and by use of words such as “expects,” “anticipates,” “believes,” “estimates,” “future,” “potential,” “continues,” “working,” “support,” “advance” and other similar expressions, or future or conditional verbs such as “will,” “should,” “would” and “could,” which are intended to identify such forward-looking statements. Forward-looking statements are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are based on our beliefs as well as assumptions made by and information currently available to us. Accordingly, our actual results or other events may differ materially from those expressed or implied in such forward-looking statements due to known or unknown risks and uncertainties that exist in our operations and business environment including, but not limited to: supplier participation, performance, transparency and data availability and accuracy; availability, cost and performance of lower-carbon materials, recycled materials and other alternatives; customer and consumer preferences; product performance, quality or supply chain matters; the regulatory environment, including laws, regulations, standards and reporting requirements relating to climate, emissions and sustainability matters; and competition, including technological advances. For additional information on these and other risks and uncertainties, please see our filings with the Securities and Exchange Commission, including the discussion under “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Form 10-K and Form 10-Qs. We undertake no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
On June 09, 2026, AptarGroup Inc ATR shares rose 3.5% today, currently priced at $115.90. The stock has experienced a 52-week range of $103.23 to $164.28, reflecting notable price volatility over the past year.
GF Value™ verdict: Current price of $115.90 is 26.0% below the GF Value™ of $156.52, indicating a potential upside.GF Score™ of 82/100 suggests a strong overall performance relative to peers.Most notable signal: Insiders sold $1.0 million worth of shares in the past three months, showing no buying activity. Is ATR Overvalued or Undervalued? AptarGroup Inc's current trading price of $115.90 is significantly below the GF Value™ of $156.52, indicating that the stock is undervalued by approximately 26.0%. This gap presents a margin of safety for potential investors, as the stock is trading well below its intrinsic value as calculated by GuruFocus. The GF Valuation label of "Modestly Undervalued" supports the notion that there is an opportunity for price appreciation if the market corrects itself in favor of AptarGroup's fundamental value. GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates.
While the undervaluation presents a favorable opportunity, it is important to consider the broader market conditions and the recent performance trends of the stock. Although AptarGroup's shares have seen a short-term uptick, its year-to-date performance remains at -4.2%, and the one-year decline is substantial at -22.4%. These factors suggest caution as the market assesses both potential recovery and inherent risks.
How Does ATR's Valuation Compare to Its History? MetricCurrentHistorical P/E (TTM)19.9x30.9x Forward P/E21.0xN/A The current P/E (TTM) of 19.9x is significantly lower than its 5-year median of 30.9x, indicating that the stock is trading at a discount relative to its historical valuation. This analysis is consistent with the GF Value™ verdict, reinforcing the view that AptarGroup's shares are undervalued. The forward P/E of 21.0x also suggests that the market expects some improvement in earnings, although current valuations remain attractive relative to historical averages.
What Does ATR's GF Score™ Tell Us? MetricRating GF Score™82/100 Financial Strength6/10 Profitability8/10 Growth9/10 Valuation8/10 Momentum2/10 The GF Score™ of 82/100 indicates that AptarGroup Inc has a strong overall performance, with notable strengths in Growth (9/10) and Profitability (8/10). However, the Momentum score of 2/10 is a concern, as it reflects poor recent price performance, which may deter some investors. The Financial Strength rating of 6/10 suggests a stable but not overly robust financial position, warranting attention in terms of risk management and future growth potential.
What Are Insiders Doing with ATR Stock? In recent months, insider activity has reflected a bearish sentiment, with insiders selling $1.0 million worth of shares and no buying activity reported. This pattern may indicate a lack of confidence among management regarding the near-term prospects for the company. While insider selling does not inherently predict negative outcomes, it can be a signal for potential investors to exercise caution and consider the broader market context.
What This Means for Investors Based on the GF Value™ assessment, AptarGroup Inc appears to be undervalued at its current price of $115.90, presenting a potential opportunity for investors willing to look beyond recent price volatility and insider selling activity.
For the complete analysis, visit the AptarGroup Inc ATR 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 ATR's GF Score™?
ATR's GF Score™ is 82/100, indicating strong overall performance compared to peers and a favorable outlook for long-term returns.
Is ATR overvalued or undervalued?
ATR is currently undervalued, with a GF Value™ of $156.52 and a current price of $115.90, suggesting a 26.0% upside potential.
What is ATR's P/E ratio?
ATR's P/E (TTM) is 19.9x, which is significantly below its 5-year median of 30.9x, indicating that the stock 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].
Southwest Gas rides on customer growth, rate gains and a $6.3B investment plan to drive long-term earnings, though pipeline risks and near-term stock lag persist.
It has been about a month since the last earnings report for Southwest Gas (SWX - Free Report) . Shares have lost about 2.1% in that time frame, outperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Southwest Gas due for a breakout? Well, first let's take a quick look at its latest earnings report in order to get a better handle on the recent catalysts for Southwest Gas Corporation before we dive into how investors and analysts have reacted as of late.
Southwest Gas' Fourth-Quarter Earnings & Revenues Miss Estimates
Southwest Gas Holdings Inc. recorded fourth-quarter 2025 operating earnings of $1.36 per share, which missed the Zacks Consensus Estimate of $1.40 by 2.9%. The bottom line also decreased from the year-ago quarter’s figure of $1.39.
SWX reported earnings of $3.65 per share for 2025 compared with $3.16 per share in 2024, which reflects a year-over-year increase of 15.5%.
SWX’s Total RevenuesOperating revenues totaled $0.48 billion, which lagged the Zacks Consensus Estimate of $0.58 billion by 17.7%. The top line also declined 62.2% from $1.27 billion reported in the prior-year quarter.
SWX reported total revenues of $1.94 billion for 2025 compared with $5.11 billion in 2024, which reflects a year-over-year decrease of 62%.
Highlights of SWX’s Earnings ReleaseOperations and maintenance expenses in 2025 totaled $544.1 million, up 3.3% from the year-ago figure of $526.7 million.
The total operating income in 2025 was $473.9 million, up 16.6% year over year.
Total system throughput in 2025 was 204.69 million dekatherms, down 6.7% from 219.43 million dekatherms reported in 2024.
Southwest Gas’ Financial HighlightsCash and cash equivalents, as of Dec. 31, 2025, were $576.6 million compared with $314.8 million as of Dec. 31, 2024.
The long-term debt, less current maturities, amounted to $3.43 billion as of Dec. 31, 2025, compared with $3.50 billion as of Dec. 31, 2024.
Southwest Gas’ net cash provided by operating activities for the year ended Dec. 31, 2025, was $0.56 billion compared with $1.36 billion in the year-ago period.
SWX’s 2026 GuidanceSouthwest Gas expects its 2026 earnings per share to be in the range of $4.17-$4.32. The Zacks Consensus Estimate is pegged at $4.13, lower than the company’s guided range.
The company expects a rate base compound annual growth rate of 9.5-11.5% in the 2026-2030 period.
The capital expenditure is projected at $1.25 billion for 2026, while total capital expenditure for the 2026-2030 timeframe is expected to reach $6.3 billion.
How Have Estimates Been Moving Since Then?Analysts were quiet during the last two month period as none of them issued any earnings estimate revisions.
VGM ScoresAt this time, Southwest Gas has a poor Growth Score of F, however its Momentum Score is doing a lot better with an A. However, the stock has a score of D on the value side, putting it in the bottom 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook Southwest Gas has a Zacks Rank #4 (Sell). We expect a below average return from the stock in the next few months.
Southwest Gas Corporation (NYSE: SWX - Get Free Report) was the target of a significant increase in short interest during the month of March. As of March 13th, there was short interest totaling 1,277,877 shares, an increase of 21.3% from the February 26th total of 1,053,173 shares. Currently, 1.8% of the shares of the stock are
, /PRNewswire/ -- The Board of Directors for Southwest Gas Holdings, Inc. ("Southwest Gas") (NYSE: SWX) has declared the following second quarter cash dividend:
Common Stock
Payable
June 1, 2026
Of Record
May 15, 2026
Dividend
$0.645 per share
The Company's regular quarterly common stock dividend of $0.645 represents a 4 percent increase over the 2025 dividend rate. The increase brings the annualized dividend to $2.58 per share. The Company has paid quarterly dividends continuously since going public in 1956.
Additional dividend information, including the tax status of Southwest Gas' dividend distributions, can be obtained through the Investor Relations section of Southwest Gas' website, www.swgasholdings.com.
About Southwest Gas Holdings, Inc.:
Southwest Gas Holdings, Inc., through its primary operating subsidiary Southwest Gas Corporation, engages in the business of purchasing, distributing, and transporting natural gas for its customers. Southwest Gas Corporation is a dynamic energy company committed to exceeding the expectations of over 2 million customers in Arizona, Nevada, and California by providing safe, reliable, and affordable service while pursuing innovative sustainable energy solutions to fuel the growth in its communities.
Bayforest Capital Ltd grew its stake in shares of Southwest Gas Corporation (NYSE:SWX – Free Report) by 177.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,103 shares of the utilities provider’s stock after buying an additional 7,099 shares during the quarter. Southwest Gas makes up 0.7% of Bayforest Capital Ltd’s holdings, making the stock its biggest holding. Bayforest Capital Ltd’s holdings in Southwest Gas were worth $888,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Spirit of America Management Corp NY grew its stake in shares of Southwest Gas by 21.7% in the fourth quarter. Spirit of America Management Corp NY now owns 4,200 shares of the utilities provider’s stock worth $336,000 after purchasing an additional 750 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Southwest Gas by 13.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,348 shares of the utilities provider’s stock worth $348,000 after purchasing an additional 528 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Southwest Gas by 74.9% in the fourth quarter. SG Americas Securities LLC now owns 9,300 shares of the utilities provider’s stock worth $744,000 after purchasing an additional 3,984 shares during the last quarter. O Keefe Stevens Advisory Inc. grew its stake in shares of Southwest Gas by 7.3% in the fourth quarter. O Keefe Stevens Advisory Inc. now owns 20,048 shares of the utilities provider’s stock worth $1,604,000 after purchasing an additional 1,370 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of Southwest Gas by 20.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,745 shares of the utilities provider’s stock worth $627,000 after purchasing an additional 1,314 shares during the last quarter. Institutional investors own 92.77% of the company’s stock.
Analyst Upgrades and Downgrades Several analysts recently weighed in on SWX shares. Wall Street Zen cut shares of Southwest Gas from a “hold” rating to a “sell” rating in a research note on Saturday. Citigroup raised shares of Southwest Gas from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $82.00 to $99.00 in a research note on Thursday, January 15th. Mizuho set a $96.00 price objective on shares of Southwest Gas in a research note on Wednesday, February 11th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Southwest Gas in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Southwest Gas presently has a consensus rating of “Moderate Buy” and an average target price of $88.40.
Check Out Our Latest Research Report on Southwest Gas
Southwest Gas Price Performance SWX stock opened at $91.06 on Friday. The firm has a market cap of $6.59 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 2.34 and a beta of 0.60. The company has a quick ratio of 1.18, a current ratio of 1.28 and a debt-to-equity ratio of 0.87. Southwest Gas Corporation has a 12-month low of $66.93 and a 12-month high of $93.44. The company’s fifty day simple moving average is $87.95 and its 200 day simple moving average is $83.36.
Southwest Gas (NYSE:SWX – Get Free Report) last released its earnings results on Wednesday, February 25th. The utilities provider reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.40 by ($0.04). The firm had revenue of $480.74 million during the quarter, compared to analyst estimates of $587.01 million. Southwest Gas had a net margin of 14.77% and a return on equity of 6.62%. Southwest Gas’s quarterly revenue was down 13.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.39 EPS. Southwest Gas has set its FY 2026 guidance at 4.170-4.320 EPS. On average, analysts expect that Southwest Gas Corporation will post 3.03 earnings per share for the current year.
Southwest Gas Increases Dividend The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be issued a $0.645 dividend. The ex-dividend date is Friday, May 15th. This is a positive change from Southwest Gas’s previous quarterly dividend of $0.62. This represents a $2.58 annualized dividend and a yield of 2.8%. Southwest Gas’s dividend payout ratio (DPR) is presently 37.75%.
Southwest Gas Company Profile (Free Report)
Southwest Gas Corporation (NYSE: SWX) is a publicly traded natural gas utility that provides regulated gas distribution services to residential, commercial, industrial and electric generation customers. The company’s core activities include the transportation, distribution and sale of natural gas through an extensive network of pipelines, service lines and metering facilities. Southwest Gas also offers related services such as system maintenance, pipeline safety inspections, emergency response and line extensions to support customer growth and ensure reliable gas delivery.
Founded in 1931 in southern Nevada, Southwest Gas has grown through strategic acquisitions and organic expansion to become one of the nation’s larger natural gas utilities by customer count.
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Resources Investor Relations Journalists Agencies Client Login Send a Release News Products Contact Company to Host Earnings Conference Call on May 5, 2026
, /PRNewswire/ -- Southwest Gas Holdings, Inc. (NYSE: SWX) ("Southwest Gas Holdings" or the "Company") will hold its first quarter earnings conference call and webcast on May 5, 2026, at 11:00 AM ET, following its news release to be issued before the markets open that day.
The conference call will be webcast live on the Company's website at www.swgasholdings.com.
Date:
Tuesday, May 5, 2026
Time:
11:00 AM ET
Telephone number:
(800) 836-8184
International number:
(646) 357-8785
If you are unable to participate during the live webcast, the call will also be archived on the Company's website at www.swgasholdings.com. Alternatively, a digital replay of the call can be accessed by dialing (888) 660-6345 or internationally at (646) 517-4150, beginning one hour after the end of the earnings call. The replay code is 41711#. The digital replay of the call will be available until 4:30 PM ET on May 12, 2026. The call will discuss results and may include business, financial or other information not contained in the earnings release.
Spire (SR - Free Report) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended March 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.
The earnings report, which is expected to be released on May 6, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.
While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.
Zacks Consensus EstimateThis natural gas distributor is expected to post quarterly earnings of $3.78 per share in its upcoming report, which represents a year-over-year change of +5%.
Revenues are expected to be $1.11 billion, up 5.2% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 61.36% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for Spire?For Spire, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -1.59%.
On the other hand, the stock currently carries a Zacks Rank of #3.
So, this combination makes it difficult to conclusively predict that Spire will beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Spire would post earnings of $1.62 per share when it actually produced earnings of $1.77, delivering a surprise of +9.26%.
Over the last four quarters, the company has beaten consensus EPS estimates two times.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Spire doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Expected Results of an Industry PlayerAnother stock from the Zacks Utility - Gas Distribution industry, Southwest Gas (SWX - Free Report) , is soon expected to post earnings of $1.88 per share for the quarter ended March 2026. This estimate indicates a year-over-year change of +13.9%. Revenues for the quarter are expected to be $737 million, down 43.2% from the year-ago quarter.
Over the last 30 days, the consensus EPS estimate for Southwest Gas has been revised 5.8% up to the current level. Nevertheless, the company now has an Earnings ESP of 0.00%, reflecting an equal Most Accurate Estimate.
This Earnings ESP, combined with its Zacks Rank #3 (Hold), makes it difficult to conclusively predict that Southwest Gas will beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates two times.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Pending California Rate Case Decision Creates Temporary Q1 Impact with Full Year Earnings Guidance Unchanged
, /PRNewswire/ -- Southwest Gas Holdings, Inc. (NYSE: SWX) ("Southwest Gas Holdings" or "Company") today reported results for its first quarter ended March 31, 2026. This earnings press release should be read in conjunction with the Form 10-Q and earnings slides, which are concurrently being posted at www.swgasholdings.com.
"Today, we reported solid first quarter results, driven by continued growth and last year's constructive rate case outcome authorizing recovery of the investments we made in Arizona to serve our customers, and significantly lower interest expense due to the payoff of previously outstanding corporate and administrative debt," said Karen Haller, President and Chief Executive Officer of Southwest Gas Holdings. "We began the year by making meaningful progress on our strategic priorities, including the filing of two general rate cases in our largest jurisdictions. In Arizona, we filed a general rate case requesting a formula rate mechanism. In Nevada, we submitted a general rate case and look forward to the Public Utilities Commission of Nevada's final order on the rulemaking process that will define the state's alternative ratemaking framework. While the delayed California rate case decision negatively affected reported first quarter earnings, the previously authorized memorandum account we use to track the impacts of the delayed decision gives us confidence to affirm our full-year earnings guidance.
"At Great Basin, we recently completed an open season for available capacity associated with the 2028 expansion project where we received bids totaling nearly 2.5 billion cubic feet per day of incremental capacity. These bids included requests for service by 2028, but also for phased-in service through 2035. While we work with shippers to convert these expressions of interest into binding precedent agreements, we are also continuing to advance preparations for our Federal Energy Regulatory Commission certificate application later this year, having made steady progress on field surveys, public outreach, and engineering design efforts," Haller continued.
SOUTHWEST GAS HOLDINGS, INC. SUMMARY OPERATING RESULTS
Summary Financial Results
Three Months Ended
March 31,
(In thousands, except per share items)
2026
2025
Results of Consolidated Operations
Contribution to net income - natural gas distribution
$ 137,771
$ 142,942
Contribution to net income - corporate and administrative
603
(8,654)
Income from continuing operations, net of taxes
138,374
134,288
Income (loss) from discontinued operations, net of taxes(1)
—
(20,418)
Net income attributable to Southwest Gas Holdings
$ 138,374
$ 113,870
Consolidated earnings per diluted share
$ 1.91
$ 1.58
Consolidated earnings per diluted share from continuing operations
$ 1.91
$ 1.86
Weighted average diluted shares
72,566
72,138
(1) Including the impacts of noncontrolling interests. All items related to the disposition of Centuri are included in discontinued operations.
(2) There were no adjustments for the three months ended March 31, 2026.
Recent Operational and Financial Highlights
Southwest Gas Holdings' quarter-over-quarter earnings per share from continuing operations improved 2.7% when compared to 2025; Southwest Gas Corporation ("Southwest Gas", "Utility", "Natural Gas Distribution" segment) delivered Utility return on period-end equity of 8.5% and Adjusted Utility return on period-end equity of 8.0% over the 12 months ended March 31, 2026. Final decision in California general rate case to make up for delayed recognition of expected California margin and related Utility return in 2026; Southwest Gas filed an Arizona general rate case requesting to increase revenues by approximately $101 million to reflect the investments we made to serve our customers. We expect new rates to become effective April 2027 and we are also requesting to transition cost recovery to a formula rate model with an Annual Rate Adjustment Mechanism; Southwest Gas filed a Nevada general rate case requesting to increase revenues by approximately $71 million to reflect the investments we made to serve our customers. We expect new rates to become effective October 2026; rulemaking process for alternative ratemaking ongoing; Great Basin Gas Transmission Company ("Great Basin") completed an open season in April 2026 for available capacity for the 2028 expansion project. Refer to the Great Basin Expansion Project Update section below. Southwest Gas invested $186.3 million in capital expenditures (on an accrual basis) during the quarter to strengthen and modernize infrastructure to support new and existing customer demand; Southwest Gas achieved gross margin of $298.9 million and operating margin of $477.0 million for the three months ended March 31, 2026; As of March 31, 2026, the Company had $484.8 million of cash on hand, and nearly $1.2 billion in available liquidity; and The Company increased its quarterly common stock dividend to $0.645 per share, representing a 4% increase over the 2025 dividend rate. Great Basin Expansion Project Updates
Great Basin completed an open season in April 2026 for available capacity associated with the 2028 Great Basin expansion project. The available capacity offered in the open season was approximately 0.3 billion cubic feet ("Bcf") per day, in addition to the 0.6 Bcf per day of currently contracted demand. The open season was significantly oversubscribed, with expressions of interest totaling approximately 2.5 Bcf per day, and requested in-service dates ranging from 2028 through 2035. All expressions of interest remain subject to the successful negotiation of binding precedent agreements ("BPAs") and the posting of required surety.
The expressions of interest received during the open season reflect incremental demand across multiple potential in-service periods:
Approximately 1.0 Bcf per day targeting 2028 - 2029. Approximately 1.5 Bcf per day requesting phased-in service dates between 2030 - 2035. The 2028 expansion project is currently designed to support up to 1.0 Bcf per day of capacity. Depending on the successful execution of BPAs and posting of surety, incremental 2028-2029 demand could:
require design changes within the existing corridor and, depending on scope changes, result in potential changes to previously disclosed capital investment and margin estimates. The Company will continue to evaluate design requirements as commercial milestones are achieved and does not expect the base capital assumptions of $1.7 billion for the 2028 expansion project to change materially if total 2028-2029 contracted demand settles at or below 1.0 Bcf per day. Incremental demand beyond the 1.0 Bcf level will be evaluated separately and is not expected to be incorporated into guidance until BPAs are executed and any potential re-designs are finalized.
Preparations for the Federal Energy Regulatory Commission (FERC) certificate (CPCN) application, expected to be filed later in 2026, are progressing as planned, including field surveys, public outreach, and engineering and design development. The current FERC filing schedule is not expected to be impacted by the incremental demand received. Shippers participating in the open season are required to execute minimum twenty-year BPAs and post surety in order to maintain the planned project schedule and associated regulatory timeline.
For future potential in-service dates beyond the 2028 expansion project, the demand requested will likely require separate project phases as well as independent regulatory approvals and construction timelines.
Earnings Reconciliation Table
The table below provides a reconciliation of net income attributable to Southwest Gas Holdings for the three months ended March 31, 2026, from the same period in 2025 (items are in millions and are before related income tax impact unless otherwise noted):
Three Months
Ended
Net income attributable to Southwest Gas Holdings – March 31, 2025
$ 113.9
Increase (decrease) in Southwest Gas net income:
Operating Margin(1)
15.1
Operations and maintenance expenses
(2.1)
Depreciation and amortization
(5.9)
Other income and deductions, net
(3.6)
Interest expense, net
(1.0)
Other (includes taxes other than income taxes)
(1.3)
Income tax expense
(6.4)
Total decrease in Southwest Gas net income
(5.2)
Improvement in corporate and administrative results(2)
9.3
Increase in income from continuing operations
4.1
Decrease in loss from discontinued operations(3)
20.4
Net income attributable to Southwest Gas Holdings – March 31, 2026
$ 138.4
(1) For a reconciliation of non-GAAP financial measures to their comparable GAAP measures, see the tables later in this press release.
(2) Corporate and Administrative improved from a net loss in the three months ended March 31, 2025 to net income in the three months ended March 31, 2026.
(3) Including the impacts of noncontrolling interests. All items related to the disposition of Centuri are included in discontinued operations.
Southwest Gas Holdings' net income from continuing operations was $138.4 million for the three months ended March 31, 2026, representing a $4.1 million increase in net income from continuing operations when compared to the three months ended March 31, 2025.
Southwest Gas / Natural Gas Distribution - First Quarter 2026
In the three months ended March 31, 2026 compared to the same period in 2025, the decrease in net income of $5.2 million was primarily due to:
$15.1 million higher Operating margin primarily driven by updated rates that better align with Southwest Gas' cost of service and capital investments across Arizona and Nevada adding approximately $13.2 million of incremental margin and $3.1 million attributable to customer growth, which is reflective of 1.0% net customer growth during the twelve months ended March 31, 2026. For California, we recorded revenues based on 2025 authorized levels pending the general rate case final decision. Also contributing to the increase were $2.0 million attributable to nondecoupled billed margin across Arizona and Nevada and $1.1 million related to the combined impacts of increases in recovery/return, offset by a comparable increase in depreciation and amortization expense in regulatory account balances noted below. Partially offsetting the increase is $4.7 million attributable to the absence of recovery in the current period, as recovery under the Vintage Steel Pipeline Program was concluded during the first quarter of 2025. More than offset by:
$2.1 million higher Operations and maintenance expense primarily attributable to higher insurance cost and related claims of $2.3 million, higher outside services of $1.3 million, and increases in incentive compensation costs of $1.1 million. These increases were partially offset by reductions in bad debt expense, internal gas used and lower leak survey and line locating expenses; $5.9 million, or 6%, higher Depreciation and amortization expense reflecting a $670.5 million, or 6%, increase in gas plant in service since the corresponding first quarter of 2025, in addition to $1.1 million in higher amortization related to regulatory account balances noted above. The increase in plant was attributable to pipeline capacity reinforcement work, franchise requirements, scheduled pipe replacement activities, and new infrastructure; $3.6 million lower Other income, which is net of other deductions, primarily driven by a $3.2 million decrease in interest income earned on money market accounts; $1.0 million higher Net interest deductions primarily due to higher variable interest expense adjusted mechanism in NV associated with Industrial Development Revenue Bonds, offset by a comparable increase in margin; $1.3 million higher Taxes and other than income taxes due primarily to increase in property taxes across all of Southwest Gas' jurisdictions; and $6.4 million higher Income tax expense due to pre-tax income differences, the amortization of excess accumulated deferred income taxes, and nondeductible executive compensation. Corporate and Administrative - First Quarter 2026
In the three months ended March 31, 2026 net income improved by $9.3 million compared to a net loss in the same period in 2025; the improvement was primarily due to:
$9.7 million lower net interest deductions primarily driven by the repayment of the $550.0 million term loan in the Summer of 2025 as well as the decrease in the balance that was previously outstanding on the revolving credit facility. $5.4 million higher other income, which is net of other deductions, primarily driven by an increase in interest income earned on money market accounts. Partially offset by:
$5.6 million higher Income tax expense due to pre-tax income differences and state income taxes. Discontinued Operations - First Quarter 2026
In the three months ended March 31, 2026 compared to the same period in 2025, the decrease in net loss of $20.4 million reflects the absence of Centuri's operating results in the current period following the completion of its disposition, compared to a full quarter of Centuri's results included in the prior year period.
Southwest Gas Holdings Guidance and Outlook:
The Company affirms the following 2026 and forward-looking guidance ranges, as follows:
(in millions, except percentages)
Affirmed Estimates
2026 Earnings per share from continuing operations
$4.17 - $4.32 / share
2026 Capital expenditures(1)
~$1.25 billion
2026 - 2030 Adjusted Earnings per share from continuing operations CAGR(2)
12.0% - 14.0%
2026- 2030 Capital expenditures(1)
$6.3 billion
2026 - 2030 Rate base CAGR(2)
9.5% - 11.5%
(1) Includes approximately $30 million and $190 million for 2026 and 2026-2030, respectively, that would be recorded in Deferred charges and other assets.
(2) 2025 compound annual growth rate ("CAGR") base year: adjusted 2025 earnings per share from continuing operations of $3.65 per share and 2025 rate base of $6.7 billion
Conference Call and Webcast
Southwest Gas Holdings will host a conference call on Tuesday, May 5, 2026, at 11:00 a.m. ET to discuss its first quarter 2026 results. The associated press release and presentation slides are available at https://investorts.swgasholdings.com.
The call will be webcast live on the Company's website at swgasholdings.com. The telephone dial-in numbers in the U.S. and Canada are toll free: (800) 836-8184 or international (646) 357-8785. The webcast will be archived on the Southwest Gas Holdings website.
About Southwest Gas Holdings
Southwest Gas Holdings, Inc., through its primary operating subsidiary Southwest Gas Corporation, engages in the business of purchasing, distributing and transporting natural gas. Southwest Gas Corporation is a dynamic energy company committed to exceeding the expectations of over 2 million customers throughout Arizona, Nevada, and California by providing safe, reliable, and affordable service while innovating sustainable energy solutions to fuel the growth in its communities.
Forward-Looking Statements: This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include, without limitation, statements regarding Southwest Gas Holdings, Inc. (the "Company" or "Southwest Gas Holdings") and Southwest Gas Corporation (the "Utility" or "Southwest Gas") and their expectations or intentions regarding the future and underlying assumptions. These forward-looking statements can often be identified by the use of words such as "will", "predict", "continue", "forecast", "expect", "believe", "anticipate", "outlook", "potential", "could", "target", "project", "intend", "plan", "seek", "pursue", "estimate", "should", "may" and "assume", as well as variations of such words and similar expressions referring to the future, and include (without limitation) statements regarding expectations of continuing growth in 2026 and the future, 2026 guidance and outlook, the expected impact and outcome of recent and ongoing gneral rate cases or other regulatory proceedings, earnings per share, capital expenditure and rate base CAGR guidance, and statements regarding the Great Basin 2028 Expansion Project, including projected demand, capacity, capital expenditures, impacts and investment opportunity. In addition, the statements that are not historic constitute forward-looking statements. A number of important factors affecting the business and financial results of the Company and the Utility could cause actual results to differ materially from those stated in the forward-looking statements. These factors include, but are not limited to, the timing and amount of rate case filings, approvals and rate relief, changes in rate design, net customer growth rates, the effects of regulation/deregulation, tax reform and similar changes and related regulatory decisions, the potential for, and the impact of, a credit rating downgrade, future earnings trends, inflation, sufficiency of labor markets and similar resources, seasonal patterns, current and future litigation, regulatory approvals for the Great Basin 2028 Expansion Project along with capital construction costs, and the impacts of stock market volatility. In addition, the Company can provide no assurance that its discussions about future earnings per share from continuing operations or operating margin, operating income, COLI earnings, interest expense, and capital expenditures of the Company will occur. Likewise, the Company can provide no assurance regarding segment revenues, margin or growth rates, that projects expected to be undertaken with results as stated will occur, nor that interest expense patterns will transpire as expected. Dividend declarations and the dividend rate are at the discretion of the Company's board of directors and depend on numerous factors, including those described in the Company's and Southwest Gas' filings with the U.S. Securities and Exchange Commission; current and projected capital requirements; the Company's liquidity position and earnings; capital expenditures; changes in cash flows; the competitiveness of the dividend yield; the Company's target dividend payout ratios as determined from time to time; the impacts of economic conditions and business cycles; credit ratings and rating impacts; legal requirements and changes in laws and regulations; long-term financial and operational performance, expectations, and sustainability; changes in tax laws; and other factors. Factors that could cause actual results to differ also include (without limitation) those discussed under the heading "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations," and "Quantitative and Qualitative Disclosure about Market Risk" in Southwest Gas Holdings, Inc.'s most recent Annual Report on Form 10-K and in the Company's, and Southwest Gas Corporation's current and periodic reports, including its Quarterly Reports on Form 10-Q, filed from time to time with the Securities and Exchange Commission. The statements in this press release are made as of the date of this press release, even if subsequently made available by the Company on its website or otherwise. The Company does not assume any obligation to update the forward-looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future developments, or otherwise.
Non-GAAP Measures. This press release contains financial measures that have not been calculated in accordance with accounting principles generally accepted in the U.S. ("GAAP"). Non-GAAP measures include (i) Southwest Gas Holdings adjusted earnings (loss) per share from continuing operations, (ii) Southwest Gas Holdings adjusted net income (loss) from continuing operations, (iii) Natural Gas Distribution segment adjusted earnings (loss) per share, (v) Natural Gas Distribution segment adjusted net income (loss), and (vi) natural gas distribution and for the three-months ended March 31, 2025. Also included in this press release, Natural Gas Distribution segment adjusted ROE for the twelve-months-ended March 31, 2026. Management uses these non-GAAP measures internally to evaluate performance and in making financial and operational decisions. Management believes that its presentation of these measures provides investors greater transparency with respect to its results of operations and that these measures are useful for a period-to-period comparison of results. Management also believes that providing these non-GAAP financial measures helps investors evaluate the Company's operating performance, profitability, and business trends in a way that is consistent with how management evaluates such performance.
Management also uses the non-GAAP measure, operating margin, related to its natural gas distribution operations. Southwest Gas recognizes operating revenues from the distribution and transportation of natural gas (and related services) to customers. Gas cost is a tracked cost, which is passed through to customers without markup under purchased gas adjustment mechanisms, impacting revenues and net cost of gas sold on a dollar-for-dollar basis, thereby having no impact on Southwest Gas' profitability. Therefore, management routinely uses operating margin, defined by management as regulated operations revenues less the net cost of gas sold, in its analysis of Southwest Gas' financial performance. Operating margin also forms a basis for Southwest Gas' various regulatory decoupling mechanisms. Management believes supplying information regarding operating margin provides investors and other interested parties with useful and relevant information to analyze Southwest Gas' financial performance in a rate-regulated environment.
The Southwest Gas Holdings, Inc. tables included herein provides a reconciliation for these non-GAAP measures.
We do not provide a reconciliation of forward-looking Non-GAAP Measures to the corresponding forward-looking GAAP measure due to our inability to project special charges and certain expenses.
SOUTHWEST GAS HOLDINGS, INC. CONSOLIDATED EARNINGS RESULTS
(In thousands, except per share amounts)
Three Months Ended
March 31,
2026
2025
Consolidated Operating Revenues
$ 585,119
$ 746,416
Net Income (Loss):
Continuing operations
$ 138,374
$ 134,288
Discontinued operations(1)
—
(20,418)
Net income applicable to Southwest Gas Holdings
$ 138,374
$ 113,870
Weighted Average Common Shares - Basic
72,441
72,012
Weighted Average Common Shares - Diluted
72,566
72,138
Basic earnings (loss) per share:
Continuing operations
$ 1.91
$ 1.86
Discontinued operations
—
(0.28)
Net earnings per share - basic
$ 1.91
$ 1.58
Diluted earnings (loss) per share:
Continuing operations
$ 1.91
$ 1.86
Discontinued operations
—
(0.28)
Net earnings per share - diluted
$ 1.91
$ 1.58
Reconciliation of Gross Margin to Operating Margin (non-GAAP measure)
Utility Gross Margin
$ 298,890
$ 287,384
Plus:
Operations and maintenance (excluding Admin & General) expense
78,472
80,763
Depreciation and amortization expense
99,603
93,690
Operating Margin
$ 476,965
$ 461,837
(1) Including the impacts of noncontrolling interests. All items related to the disposition of Centuri are included in discontinued operations.
Reconciliation of non-GAAP financial measure of Adjusted net income (loss) and Adjusted diluted earnings (loss) per share and their comparable GAAP measure of Net income (loss) and Diluted earnings (loss) per share is presented below. Amounts in thousands, except per share amounts and percentages.
Twelve Months
Ended March 31,
2026
Reconciliation of Net income (loss) to non-GAAP measure of Adjusted net income (loss)
Net income applicable to Natural Gas Distribution (GAAP)
$ 295,137
Plus:
State income tax apportionment associated with certain one-time events(1)
(16,362)
Adjusted net income applicable to Natural Gas Distribution
$ 278,775
Natural Gas Distribution Average Equity (GAAP)(2)
$ 3,489,611
Natural Gas Distribution Return on Equity (GAAP)
8.5 %
Adjusted Natural Gas Distribution Average Equity(2)
$ 3,482,552
Adjusted Natural Gas Distribution Return on Equity
8.0 %
(1) Represents the non-recurring impact of remeasuring state deferred taxes, primarily related to the tax deconsolidation of Centuri and the inclusion of the 2028 Great Basin Expansion Project.
(2) Natural Gas Distribution Equity represents a trailing five quarter average.
FINANCIAL STATISTICS
Market value to book value per share at quarter end
153 %
Twelve months to date return on equity
-- gas segment
8.5 %
Twelve months to date adjusted return on equity(1)
-- gas segment
8.0 %
Common stock dividend yield at quarter end
2.9 %
Customer to employee ratio at quarter end (gas segment)
938 to 1
(1) For a reconciliation of non-GAAP financial measures to their comparable GAAP measures, see the tables earlier in this press release.
GAS DISTRIBUTION SEGMENT
Authorized Rate Base
(In thousands)
Authorized Rate of
Return
Authorized Return on
Common Equity
Rate Jurisdiction
Arizona(1)
$ 3,175,484
7.03 %
9.84 %
Southern Nevada(2)
1,780,757
7.02
9.50
Northern Nevada(3)
227,060
7.01
9.50
Southern California(4)
285,691
8.02
11.16
Northern California(4)
92,983
7.91
11.16
South Lake Tahoe(4)
56,818
7.91
11.16
Great Basin Gas Transmission Company(5)
190,988
8.17
11.95
Total/Weighted Average
$ 5,809,781
7.14 %
9.89 %
(1) Effective March 2025.
(2) Effective July 2025.
(3) Effective April 2024.
(4) Authorized returns updated effective January 1, 2024, due to an Automatic Rate of Return Trigger Mechanism.
(5) Estimated amounts based on 2024 rate case settlement.
Southwest Gas (SWX - Free Report) came out with quarterly earnings of $1.91 per share, beating the Zacks Consensus Estimate of $1.88 per share. This compares to earnings of $1.65 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +1.60%. A quarter ago, it was expected that this natural gas company would post earnings of $1.4 per share when it actually produced earnings of $1.36, delivering a surprise of -2.86%.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
Southwest Gas, which belongs to the Zacks Utility - Gas Distribution industry, posted revenues of $585.12 million for the quarter ended March 2026, missing the Zacks Consensus Estimate by 20.61%. This compares to year-ago revenues of $1.3 billion. The company has not been able to beat consensus revenue estimates 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.
Southwest Gas shares have added about 16.3% since the beginning of the year versus the S&P 500's gain of 5.2%.
What's Next for Southwest Gas?While Southwest Gas has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Southwest Gas was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.55 on $608.33 million in revenues for the coming quarter and $4.27 on $2.01 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Utility - Gas Distribution is currently in the top 38% 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, MDU Resources (MDU - Free Report) , is yet to report results for the quarter ended March 2026. The results are expected to be released on May 7.
This energy, mining, construction and utilities company is expected to post quarterly earnings of $0.42 per share in its upcoming report, which represents a year-over-year change of +5%. The consensus EPS estimate for the quarter has been revised 5.6% higher over the last 30 days to the current level.
MDU Resources' revenues are expected to be $702.32 million, up 4.1% from the year-ago quarter.
Key Takeaways Southwest Gas posted Q1 operating EPS of $1.91, beating estimates and rising 15.76% y/y.SWX revenues fell 21.61% y/y, while operating expenses declined 31.34%. Southwest Gas expects 2026 EPS of $4.17-$4.32 and plans $1.25B in capital spending this year. Southwest Gas Holdings Inc. (SWX - Free Report) recorded first-quarter 2026 operating earnings of $1.91 per share, which beat the Zacks Consensus Estimate of $1.88 by 1.60%. The bottom line increased 15.76% from the year-ago quarter.
SWX’s Total RevenuesOperating revenues totaled $585.1 million, which lagged the Zacks Consensus Estimate of $737 million by 20.62%. The top line also decreased 21.61% from $746.4 million in the prior-year quarter.
Southwest Gas Corporation Price, Consensus and EPS SurpriseHighlights of SWX’s Earnings ReleaseTotal operating expenses were $365.8 million, down 31.34% year over year.
Total operating income was $219.3 million, up 2.63% from $213.7 million in the year-ago quarter.
Total system throughput in the first three months of 2026 was 63.85 million dekatherms, down 12.68% from 73.12 million dekatherms in the same period of 2025.
Southwest Gas’ Financial HighlightsAs of March 31, 2026, SWX had cash and cash equivalents of $484.8 million compared with $576.6 million as of Dec. 31, 2025.
Long-term debt, less current maturities, amounted to $3.43 billion as of March 31, 2026, a tad higher than the 2025-end levels.
Southwest Gas’ net cash provided by operating activities in the first three months of 2026 was $162.1 million compared with $291.3 million in the year-ago period.
SWX’s 2026 GuidanceSouthwest Gas expects its 2026 earnings per share to be $4.17-$4.32. The Zacks Consensus Estimate is pegged at $4.27, higher than the mid-point of the company’s guided range.
The company expects a rate base compound annual growth rate of 9.5-11.5% in the 2026-2030 period.
The capital expenditure is projected at $1.25 billion for 2026, while total capital expenditure for 2026-2030 is expected to reach $6.3 billion.
SWX’s Zacks RankSouthwest Gas currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Upcoming ReleasesAtmos Energy (ATO - Free Report) is scheduled to report second-quarter fiscal 2026 results on May 6. The Zacks Consensus Estimate for ATO’s fiscal second-quarter EPS is pegged at $3.37, implying an increase of 11.22% from the prior-year reported figure.
The Zacks Consensus Estimate for fiscal second-quarter sales is pinned at $2.24 billion, which suggests year-over-year growth of 14.77%.
UGI Corporation (UGI - Free Report) is set to report second-quarter fiscal 2026 results on May 6. The Zacks Consensus Estimate for UGI’s fiscal second-quarter EPS is pegged at $2.27, indicating an increase of 2.71% from the prior-year reported figure.
The Zacks Consensus Estimate for fiscal second-quarter sales is pinned at $3.13 billion, which suggests year-over-year growth of 17.35%.
MDU Resources Group, Inc. (MDU - Free Report) is scheduled to report first-quarter 2026 results on May 7. The Zacks Consensus Estimate for MDU’s first-quarter EPS is pegged at 42 cents, suggesting an increase of 5% from the prior-year reported figure.
The Zacks Consensus Estimate for first-quarter sales is pinned at $702.32 million, which suggests year-over-year growth of 4.08%.
, /PRNewswire/ -- Southwest Gas Holdings, Inc. (NYSE: SWX) ("Southwest Gas" or "Company") is pleased to announce the election of Molly R. Carson and Leezie Kim to its Board of Directors at the Company's annual meeting held May 7, 2026.
With proven leadership and deep roots across the southwest region, Carson and Kim are well-positioned to support the Company as it delivers safe and reliable service, maintains affordability for customers, and creates long-term value for stockholders.
Molly R. Carson
Leezie Kim "I am excited to welcome Molly and Leezie to our Board of Directors. Their election reflects our commitment to strong governance, and I look forward to the insight, experience, and fresh perspectives they will offer as we advance our strategic priorities," said E. Renae Conley, Chair of the Southwest Gas Board.
"Molly and Leezie both have deep ties to the southwest and a track record of meaningful contributions to the communities we call home. Their insight will support our focus on delivering safe, reliable, and affordable service to our nearly 2.3 million customers while creating lasting value for stockholders," said Justin L. Brown, President and CEO of Southwest Gas.
Molly R. Carson brings more than 20 years of experience in large-scale real estate development and strategic planning across multiple sectors, including office, industrial, and healthcare. Carson currently serves as Vice Chairperson of the Board of Directors of Phoenix Children's Hospital and as a member of the boards of Ryan Companies US, Inc., the NAIOP Research Foundation, and Brophy College Preparatory School. She previously served as Chairperson of NAIOP's Corporate Board and its Arizona Chapter. She holds a B.A. in Psychology from St. Mary's College of Notre Dame and is a LEED Accredited Professional.
Leezie Kim brings three decades of leadership experience spanning legal, corporate finance, and government roles across both the public and private sectors. She currently serves as Chief Legal Officer of Fox Restaurant Concepts LLC. Kim previously served as General Counsel to the Governor of the State of Arizona and held a senior executive role within the U.S. Department of Homeland Security. She also served as Chair of the Arizona Community Foundation Board of Directors and its Audit Committee. Kim received the Meritorious Public Service Award from the Commandant of the U.S. Coast Guard for her contributions to the response to the 2010 Deepwater Horizon oil spill. Kim earned a B.A. in Economics from Rice University and a J.D. from the University of Virginia.
For more information about Southwest Gas Holdings, Inc., please visit swgasholdings.com.
About Southwest Gas Holdings, Inc.
Southwest Gas Holdings, Inc., through its primary operating subsidiary Southwest Gas Corporation, engages in the business of purchasing, distributing, and transporting natural gas. Southwest Gas Corporation is a dynamic energy company committed to exceeding the expectations of over 2 million customers in Arizona, Nevada, and California by providing safe, reliable, and affordable service while pursuing innovative, sustainable energy solutions to fuel the growth in its communities.
Donates $60,000 to support the unhoused; Southwest Gas employees to prepare 6,000 personal care packages throughout the month to support individuals experiencing homelessness
, /PRNewswire/ -- The Southwest Gas Foundation ("Foundation"), the philanthropic arm of Southwest Gas Corporation ("Southwest Gas" or "Company"), is launching its "Month of Giving" this June in recognition of the Foundation's 60th anniversary, reflecting its long-standing commitment to uplifting and strengthening communities.
Southwest Gas logo During the Month of Giving, the Foundation will contribute $60,000 to provide essential hygiene items for a total of 6,000 care packages that will be distributed to unhoused individuals across Southwest Gas' service territories in Arizona, Nevada, and California through collaboration with local nonprofits. The care packages will be assembled by Southwest Gas employees through the employee volunteer program, BLUE ("Building Lives Up Everywhere"), which encourages employees to be of service to their neighbors and give back to the communities where they live and work. The care packages will be distributed by local nonprofit partners, including: Central Arizona Shelter Services, Northern Nevada Dream Center, Youth on Their Own, HELP of Southern Nevada, and Family Assistance Program.
"Southwest Gas plays a critical role in strengthening our communities, and giving back is core to our culture and mission," said Justin Brown, President and CEO of Southwest Gas. "For 60 years, the Southwest Gas Foundation has cultivated meaningful partnerships with local nonprofits to support our neighbors in need and truly make a difference in our communities. Our Month of Giving highlights these important partnerships and the collective work we do to uplift and enrich the lives of those we serve."
Below are scheduled BLUE events across the Company's service territory for the Month of Giving along with the total number of personal care packages that will be prepared:
June 6 Central Arizona: 2,000 care packages with Central Arizona Shelter Services June 13 Northern Nevada: 500 care packages with Northern Nevada Dream Center June 20 Southern Arizona: 1,000 care packages with Youth on Their Own Southern Nevada: 2,000 care packages with HELP of Southern Nevada Southern California: 500 care packages with Family Assistance Program A legacy of impact
Rooted in a deep commitment to people and the communities the Company serves, the Foundation has spent six decades partnering with 501(c)(3) organizations to open doors of opportunities, provide support in times of need; creating a legacy of impact that benefits generations to come. In 2025, through the Foundation, the Company donated $2.5 million to nonprofit organizations that share its vision of making a positive impact and supporting strong, sustainable communities.
For more information on the Foundation and its commitment to community, visit www.swgas.com/community.
About Southwest Gas
Southwest Gas Corporation is a dynamic energy company committed to exceeding the expectations of our over two million customers throughout Arizona, California, and Nevada by providing safe, reliable, and affordable service while innovating sustainable energy solutions to fuel our communities' growth. For more information about how Southwest Gas is supporting a sustainable energy future, please visit www.swgas.com.
About The Southwest Gas Foundation
The Southwest Gas Foundation has spent six decades partnering with 501(c)(3) organizations to open doors of opportunities, provide support in times of need, and create a legacy of impact that benefits generations to come. Funded by shareholders, the Foundation is committed to enriching lives and strengthening communities. For more information, please visit www.swgas.com/community.
A month has gone by since the last earnings report for Southwest Gas (SWX - Free Report) . Shares have lost about 5.6% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Southwest Gas due for a breakout? Well, first let's take a quick look at the latest earnings report in order to get a better handle on the recent catalysts for Southwest Gas Corporation before we dive into how investors and analysts have reacted as of late.
Southwest Gas Q1 Earnings Beat Estimates, Revenues Decline Y/Y
Southwest Gas Holdings Inc. recorded first-quarter 2026 operating earnings of $1.91 per share, which beat the Zacks Consensus Estimate of $1.88 by 1.60%. The bottom line increased 15.76% from the year-ago quarter.
SWX’s Total RevenuesOperating revenues totaled $585.1 million, which lagged the Zacks Consensus Estimate of $737 million by 20.62%. The top line also decreased 21.61% from $746.4 million in the prior-year quarter.
Highlights of SWX’s Earnings ReleaseTotal operating expenses were $365.8 million, down 31.34% year over year.
Total operating income was $219.3 million, up 2.63% from $213.7 million in the year-ago quarter.
Total system throughput in the first three months of 2026 was 63.85 million dekatherms, down 12.68% from 73.12 million dekatherms in the same period of 2025.
Southwest Gas’ Financial HighlightsAs of March 31, 2026, SWX had cash and cash equivalents of $484.8 million compared with $576.6 million as of Dec. 31, 2025.
Long-term debt, less current maturities, amounted to $3.43 billion as of March 31, 2026, a tad higher than the 2025-end levels.
Southwest Gas’ net cash provided by operating activities in the first three months of 2026 was $162.1 million compared with $291.3 million in the year-ago period.
SWX’s 2026 GuidanceSouthwest Gas expects its 2026 earnings per share to be $4.17-$4.32. The Zacks Consensus Estimate is pegged at $4.27, higher than the mid-point of the company’s guided range.
The company expects a rate base compound annual growth rate of 9.5-11.5% in the 2026-2030 period.
The capital expenditure is projected at $1.25 billion for 2026, while total capital expenditure for 2026-2030 is expected to reach $6.3 billion.
How Have Estimates Been Moving Since Then?Estimates revision followed a upward path over the past two months.
The consensus estimate has shifted -7.65% due to these changes.
VGM ScoresCurrently, Southwest Gas has a poor Growth Score of F, a score with the same score on the momentum front. Charting a somewhat similar path, the stock has a grade of D on the value side, putting it in the bottom 40% for value investors.
Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook Southwest Gas has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
U.S. equity markets snapped a five-week losing streak this week, while interest rates retreated, as resilient economic data pushed back against stagflation concerns amid a continuation of the Iran conflict. Major equity benchmarks rebounded sharply, with the S&P 500 gaining 3.4% and the Nasdaq 100 rising 4.0%, while real estate stocks outperformed as falling Treasury yields boosted rate-sensitive sectors. Treasury yields declined despite surging oil prices, breaking their recent correlation with crude, as investors weighed solid U.S. employment data against risks that higher energy costs could slow growth abroad.
, /PRNewswire/ -- AMH (NYSE: AMH), a leading large-scale integrated owner, operator and developer of single-family rental homes, today announced that the Company will release its first quarter 2026 financial and operating results on Wednesday, May 6, 2026, after the market closes. The Company will host a conference call on Thursday, May 7, 2026, at 12:00 p.m. Eastern Time to review first quarter results, discuss recent events, and conduct a question-and-answer period.
Live conference call
Toll free number:
(877) 451-6152 (for domestic callers)
Direct dial number:
(201) 389-0879 (for international callers)
Passcode:
Not required
Simultaneous audio webcast link:
www.amh.com under "Investor relations"
Conference call replay
Toll free number:
(844) 512-2921 (for domestic callers)
Direct dial number:
(412) 317-6671 (for international callers)
Passcode:
13759161#
Webcast link:
www.amh.com under "Investor relations"
Date accessible through:
May 21, 2026
About AMH
AMH (NYSE: AMH) is a leading large-scale integrated owner, operator and developer of single-family rental homes. We're an internally managed Maryland real estate investment trust (REIT) focused on developing, renovating, leasing and managing homes as rental properties.
In recent years, we've been named a 2025 Great Place to Work®, a 2025 Top U.S. Homebuilder by Builder100, and one of the 2025 Most Trustworthy Companies in America by Newsweek and Statista Inc. As of December 31, 2025, we owned over 61,000 single-family properties in the Southeast, Midwest, Southwest and Mountain West regions of the United States. Additional information about AMH is available on our website at www.amh.com.
AMH refers to one or more of American Homes 4 Rent, American Homes 4 Rent, L.P. and their subsidiaries and joint ventures. In certain states, we operate under AMH Living or American Homes 4 Rent. Please see www.amh.com/dba to learn more.
AMH Contacts:
Brian Nelson
Media Relations
Phone: (855) 774-4663
Email: [email protected]
Nicholas Fromm
Investor Relations
Phone: (855) 794-2447
Email: [email protected]
American Homes 4 Rent (AMH) Series G preferreds (AMH.PR.G) have slipped early in 2026, impacted by market pricing for more gradual Fed policy normalization. I believe this provides a buying opportunity for investors with a late 2027/early 2028 horizon, when fading inflation should allow for additional Fed easing. Assuming the Fed delivered on rate cuts, I estimate AMH.PR.G could reasonably deliver a low double-digit total return.
American Homes 4 Rent offers a compelling long-term total return profile, driven by dividend growth and a discounted valuation amid government intervention fears. AMH's strategy has shifted from acquiring to building single-family homes, positioning it as a net provider of housing and mitigating regulatory risks targeting institutional buyers. With a strong balance sheet, BBB credit rating, and no major debt maturities until 2028, the company demonstrates financial resilience and adaptability across diverse U.S. markets.
Cwm LLC lifted its holdings in American Homes 4 Rent (NYSE:AMH – Free Report) by 1,262.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 102,565 shares of the real estate investment trust’s stock after acquiring an additional 95,037 shares during the quarter. Cwm LLC’s holdings in American Homes 4 Rent were worth $3,292,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB increased its stake in American Homes 4 Rent by 10,728.6% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 758 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 751 shares during the period. True Wealth Design LLC boosted its stake in shares of American Homes 4 Rent by 230.8% during the fourth quarter. True Wealth Design LLC now owns 827 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 577 shares during the period. Parallel Advisors LLC grew its holdings in shares of American Homes 4 Rent by 84.8% in the third quarter. Parallel Advisors LLC now owns 963 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 442 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in shares of American Homes 4 Rent in the fourth quarter worth $37,000. Finally, SJS Investment Consulting Inc. purchased a new position in shares of American Homes 4 Rent in the third quarter worth $43,000. Hedge funds and other institutional investors own 91.87% of the company’s stock.
American Homes 4 Rent Stock Up 1.4% Shares of American Homes 4 Rent stock opened at $30.62 on Friday. American Homes 4 Rent has a 1 year low of $27.22 and a 1 year high of $39.49. The firm has a market cap of $11.14 billion, a price-to-earnings ratio of 25.94, a PEG ratio of 4.35 and a beta of 0.79. The company has a 50-day moving average of $29.43 and a 200 day moving average of $31.00. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.63 and a quick ratio of 0.63.
American Homes 4 Rent (NYSE:AMH – Get Free Report) last announced its quarterly earnings data on Thursday, February 19th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.14). The company had revenue of $402.93 million for the quarter, compared to analysts’ expectations of $459.24 million. American Homes 4 Rent had a net margin of 24.48% and a return on equity of 5.93%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.45 EPS. American Homes 4 Rent has set its FY 2026 guidance at 1.890-1.950 EPS. As a group, sell-side analysts anticipate that American Homes 4 Rent will post 1.92 earnings per share for the current fiscal year.
American Homes 4 Rent Increases Dividend The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 13th were issued a $0.33 dividend. This is an increase from American Homes 4 Rent’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 4.3%. The ex-dividend date was Friday, March 13th. American Homes 4 Rent’s dividend payout ratio is 111.86%.
Insider Buying and Selling In other American Homes 4 Rent news, Director David Goldberg purchased 2,000 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were acquired at an average price of $29.30 per share, for a total transaction of $58,600.00. Following the purchase, the director directly owned 36,723 shares of the company’s stock, valued at $1,075,983.90. The trade was a 5.76% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Douglas N. Benham bought 1,200 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were bought at an average price of $24.20 per share, for a total transaction of $29,040.00. Following the completion of the transaction, the director directly owned 44,717 shares of the company’s stock, valued at $1,082,151.40. This represents a 2.76% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders acquired 6,771 shares of company stock valued at $183,684. 5.70% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth Several brokerages have recently commented on AMH. Wall Street Zen downgraded shares of American Homes 4 Rent from a “hold” rating to a “sell” rating in a research note on Sunday, January 18th. Mizuho cut their target price on American Homes 4 Rent from $32.00 to $29.00 and set a “neutral” rating on the stock in a research note on Friday, March 13th. BMO Capital Markets restated a “market perform” rating and set a $37.00 price target on shares of American Homes 4 Rent in a report on Friday, January 9th. UBS Group lowered their price target on American Homes 4 Rent from $38.00 to $33.00 and set a “neutral” rating for the company in a research report on Thursday, January 8th. Finally, Wells Fargo & Company cut their price objective on American Homes 4 Rent from $37.00 to $34.00 and set an “overweight” rating on the stock in a research report on Thursday, March 5th. Seven research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $35.21.
Get Our Latest Stock Report on AMH
About American Homes 4 Rent (Free Report)
American Homes 4 Rent (NYSE: AMH) is a publicly traded real estate investment trust (REIT) specializing in the acquisition, development and management of single-family rental homes. Since its initial public offering in April 2013, the company has focused on building a large-scale, professionally managed portfolio of homes designed to meet the needs of today’s renters. Its business model emphasizes the acquisition of well-located properties coupled with consistent, in-house property management to drive occupancy and long-term value.
As of the most recent reporting, American Homes 4 Rent owns and operates tens of thousands of homes across the United States, with concentration in key Sun Belt and high-growth markets.
Further Reading Five stocks we like better than American Homes 4 Rent Want to see what other hedge funds are holding AMH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Homes 4 Rent (NYSE:AMH – Free Report).
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Essex Property Trust (ESS - Free Report) came out with quarterly funds from operations (FFO) of $4.06 per share, beating the Zacks Consensus Estimate of $3.96 per share. This compares to FFO of $3.97 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an FFO surprise of +2.60%. A quarter ago, it was expected that this real estate investment trust would post FFO of $4 per share when it actually produced FFO of $3.98, delivering a surprise of -0.5%.
Over the last four quarters, the company has surpassed consensus FFO estimates three times.
Essex Property Trust, which belongs to the Zacks REIT and Equity Trust - Residential industry, posted revenues of $484.76 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 0.70%. This compares to year-ago revenues of $464.58 million. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future FFO expectations will mostly depend on management's commentary on the earnings call.
Essex Property Trust shares have lost about 1.9% since the beginning of the year versus the S&P 500's gain of 4.8%.
What's Next for Essex Property Trust?While Essex Property Trust 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 FFO outlook. Not only does this include current consensus FFO 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 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 estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Essex Property Trust was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus FFO estimate is $4.06 on $486.49 million in revenues for the coming quarter and $16.03 on $1.95 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, REIT and Equity Trust - Residential is currently in the bottom 33% 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, American Homes 4 Rent (AMH - Free Report) , is yet to report results for the quarter ended March 2026. The results are expected to be released on May 6.
This real estate company is expected to post quarterly earnings of $0.48 per share in its upcoming report, which represents a year-over-year change of +4.4%. The consensus EPS estimate for the quarter has been revised 0.3% higher over the last 30 days to the current level.
American Homes 4 Rent's revenues are expected to be $468.02 million, up 1.9% from the year-ago quarter.
Delivered Solid First Quarter with Accelerating Spring Leasing Activity
, /PRNewswire/ -- AMH (NYSE: AMH) (the "Company"), a leading large-scale integrated owner, operator and developer of single-family rental homes, today announced its financial and operating results for the quarter ended March 31, 2026.
Highlights
Rents and other single-family property revenues increased 2.8% year-over-year to $472.0 million for the first quarter of 2026. Net income attributable to common shareholders totaled $127.8 million, or $0.35 per diluted share, for the first quarter of 2026, compared to $110.0 million, or $0.30 per diluted share, for the first quarter of 2025. Core Funds from Operations ("Core FFO") attributable to common share and unit holders increased 4.6% year-over-year to $0.48 per FFO share and unit for the first quarter of 2026 and Adjusted Funds from Operations ("Adjusted FFO") attributable to common share and unit holders increased 8.0% year-over-year to $0.45 per FFO share and unit for the first quarter of 2026. Core Net Operating Income ("Core NOI") from Same-Home properties increased by 3.7% year-over-year for the first quarter of 2026. Achieved Same-Home Average Occupied Days Percentage of 95.1% in the first quarter of 2026, while generating 2.2% blended rate growth driven by lease spreads of 3.2% and -0.8% on renewals and new leases, respectively. Spring leasing season continues to further strengthen with April Same-Home Average Occupied Days Percentage of 95.6%, rate growth on new leases of 1.2% and rate growth on renewals of 3.0%. Delivered a total of 539 high-quality and energy-efficient newly constructed homes from our AMH Development Program to our wholly-owned portfolio and unconsolidated joint ventures in the first quarter of 2026. Repurchased and retired 3.7 million of our outstanding Class A common shares at a weighted-average price of $31.49 per share and a total price of $115.1 million in the first quarter of 2026. In April 2026, repurchased and retired 3.2 million of our outstanding Class A common shares at a weighted-average price of $29.37 per share and a total price of $94.0 million. "AMH delivered a solid first quarter, supported by steady execution across our operating platform and strong expense management from our field teams. As we entered the spring leasing season, the momentum we saw in March continued through April, resulting in additional occupancy gains and new lease spread turning positive," stated Bryan Smith, AMH's Chief Executive Officer. "Against a backdrop of economic uncertainty, these results demonstrate the resilience of single-family rental demand and the strength of the AMH platform as we move through the rest of the year."
First Quarter 2026 Financial Results
Net income attributable to common shareholders totaled $127.8 million, or $0.35 per diluted share, for the first quarter of 2026, compared to $110.0 million, or $0.30 per diluted share, for the first quarter of 2025. The increase was primarily due to increases in rents and other single-family property revenues exceeding increases in total expenses and higher net gains on property sales.
Rents and other single-family property revenues increased 2.8% to $472.0 million for the first quarter of 2026, compared to $459.3 million for the first quarter of 2025. Revenue growth was primarily driven by higher rental rates.
Core NOI from our total portfolio increased 4.8% to $271.2 million for the first quarter of 2026, compared to $258.8 million for the first quarter of 2025. This growth was driven by a 2.7% increase in core revenues resulting primarily from higher rental rates and a 1.2% decrease in core property operating expenses.
For the Company's Same-Home portfolio, core revenues increased 2.4% to $365.8 million for the first quarter of 2026, compared to $357.3 million for the first quarter of 2025, which was driven by a 3.0% increase in Average Monthly Realized Rent per property as well as higher fees, partially offset by an 80 basis point decrease in Average Occupied Days Percentage. Core property operating expenses from Same-Home properties decreased 0.2% to $120.0 million for the first quarter of 2026, compared to $120.3 million for the first quarter of 2025, which reflects the Company's effective cost controls. As a result, Core NOI from Same-Home properties increased 3.7% to $245.9 million for the first quarter of 2026, compared to $237.0 million for the first quarter of 2025.
Core FFO attributable to common share and unit holders was $200.1 million, or $0.48 per FFO share and unit, for the first quarter of 2026, compared to $194.7 million, or $0.46 per FFO share and unit, for the first quarter of 2025. Adjusted FFO attributable to common share and unit holders was $187.4 million, or $0.45 per FFO share and unit, for the first quarter of 2026, compared to $176.6 million, or $0.42 per FFO share and unit, for the first quarter of 2025. These improvements were primarily attributable to growth in Core NOI from our total portfolio.
Investments
As of March 31, 2026, the Company's total single-family properties, excluding properties held for sale, consisted of 60,200 homes, compared to 60,337 homes as of December 31, 2025, a decrease of 137 homes during the first quarter of 2026, which included 594 homes identified for sale, partially offset by 457 newly constructed homes delivered to our operating portfolio through our AMH Development Program. During the first quarter of 2026, we also developed an additional 82 newly constructed homes which were delivered to our unconsolidated joint ventures, aggregating to 539 total home deliveries through our AMH Development Program. As of March 31, 2026, the Company had 1,037 properties held for sale and 3,858 properties held in unconsolidated joint ventures.
Capital Activities, Balance Sheet and Liquidity
In January 2026, the Company fully utilized the remaining authorization for the repurchase of Class A common shares under its 2018 share repurchase program and repurchased and retired 3.7 million of its outstanding Class A common shares at a weighted-average price of $31.49 per share and a total price of $115.1 million. In February 2026, the Company's board of trustees authorized a new share repurchase program to repurchase up to $500.0 million of outstanding Class A common shares and up to $250.0 million of outstanding preferred shares from time to time in the open market or in privately negotiated transactions. All repurchased shares are constructively retired and returned to an authorized and unissued status. In April 2026, the Company repurchased and retired 3.2 million of its outstanding Class A common shares at a weighted-average price of $29.37 per share and a total price of $94.0 million, leaving $406.0 million of remaining authorization under the new share repurchase program.
As of March 31, 2026, the Company had cash and cash equivalents of $63.3 million and total outstanding debt of $5.2 billion, excluding unamortized discounts and unamortized deferred financing costs, with a weighted-average interest rate of 4.5% and a weighted-average term to maturity of 7.9 years, which includes $390.0 million of outstanding borrowings on its $1.25 billion revolving credit facility. During the first quarter of 2026, the Company generated $50.5 million of Retained Cash Flow and sold 710 properties, generating $199.1 million of net proceeds.
2026 Guidance
Set forth below are the Company's current expectations with respect to full year 2026 Core FFO attributable to common share and unit holders and our underlying assumptions. In reliance on the exception provided by applicable SEC rules, the Company does not provide guidance for GAAP net income, the most comparable GAAP financial measure, or a reconciliation of 2026 Core FFO guidance to GAAP net income because we are unable to reasonably predict the following items which are included in GAAP net income: (i) gain on sale and impairment of single-family properties and other, net for consolidated properties and unconsolidated real estate joint ventures, (ii) acquisition, disposition and other transaction costs and (iii) hurricane-related charges, net. The actual amounts for any and all of these items could significantly impact our 2026 GAAP net income and, as disclosed in our historical financial results, have significantly impacted GAAP net income in prior periods.
Guidance Summary
Full Year 2026 guidance ranges remain unchanged, with AMH's teams delivering solid execution as prime leasing and move out seasons remain ahead.
Full Year 2026
(Unchanged)
Core FFO attributable to common share and unit holders
$1.89 - $1.95
Core FFO attributable to common share and unit holders growth
1.1% - 4.3%
Same-Home
Core revenues growth
1.25% - 3.25%
Core property operating expenses growth
1.75% - 3.75%
Core NOI growth
1.00% - 3.00%
Full Year 2026
(Unchanged)
Investment Program
Properties
Investment
Wholly owned acquisitions
—
—
Wholly owned development deliveries
1,300 - 1,500
$500 - $600 million
JV development deliveries (1)
400 - 600
$150 - $250 million
Total gross capital investment (1)
1,700 - 2,100
$650 - $850 million
(1) JV deliveries and capital investment reflected at 100%.
Additional Information
A copy of the Company's First Quarter 2026 Earnings Release and Supplemental Information Package and this press release are available on our website at www.amh.com, under "Investor relations." This information has also been furnished to the SEC in a current report on Form 8-K.
Conference Call
A conference call is scheduled on Thursday, May 7, 2026 at 12:00 p.m. Eastern Time to discuss the Company's financial results for the quarter ended March 31, 2026 and to provide an update on its business. The domestic dial-in number is (877) 451-6152 (U.S. and Canada) and the international dial-in number is (201) 389-0879 (passcode not required). A simultaneous audio webcast may be accessed by using the link at www.amh.com, under "Investor relations." A replay of the conference call may be accessed through Thursday, May 21, 2026 by calling (844) 512-2921 (U.S. and Canada) or (412) 317-6671 (international), replay passcode number 13759161#, or by using the link at www.amh.com, under "Investor relations."
About AMH
AMH (NYSE: AMH) is a leading large-scale integrated owner, operator and developer of single-family rental homes. We're an internally managed Maryland real estate investment trust (REIT) focused on developing, renovating, leasing and managing homes as rental properties.
In recent years, we've been named a 2026 Great Place to Work®, a 2026 Top U.S. Homebuilder by Builder100, and one of the 2025 Most Trustworthy Companies in America by Newsweek and Statista Inc. As of March 31, 2026, we owned over 61,000 single-family properties in the Southeast, Midwest, Southwest and Mountain West regions of the United States. Additional information about AMH is available on our website at www.amh.com.
AMH refers to one or more of American Homes 4 Rent, American Homes 4 Rent, L.P. and their subsidiaries and joint ventures. In certain states, we operate under AMH Living or American Homes 4 Rent. Please see www.amh.com/dba to learn more.
This press release and the accompanying Supplemental Information Package contain "forward-looking statements." These forward-looking statements relate to beliefs, expectations or intentions and similar statements concerning matters that are not of historical fact and are generally accompanied by words such as "estimate," "project," "predict," "believe," "expect," "anticipate," "intend," "potential," "plan," "goal," "outlook," "guidance" or other words that convey the uncertainty of future events or outcomes. Examples of forward-looking statements contained in this press release and the Supplemental Information Package include, among others, our 2026 Guidance, our belief that our acquisition and homebuilding programs will result in continued growth and the estimated timing of our development deliveries set forth in the Supplemental Information Package. The Company has based these forward-looking statements on its current expectations and assumptions about future events. While the Company's management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond the Company's control and could cause actual results to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to update any forward-looking statements to conform to actual results or changes in its expectations, unless required by applicable law. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of the Company in general, see the "Risk Factors" disclosed in the Company's Annual Report on Form 10-K for the year ended December 31, 2025 and in the Company's subsequent filings with the SEC.
AMH
Condensed Consolidated Balance Sheets
(Amounts in thousands, except share and per share data)
March 31, 2026
December 31, 2025
(Unaudited)
Assets
Single-family properties:
Land
$ 2,418,410
$ 2,406,467
Buildings and improvements
12,058,732
11,971,961
Single-family properties in operation
14,477,142
14,378,428
Less: accumulated depreciation
(3,443,333)
(3,366,795)
Single-family properties in operation, net
11,033,809
11,011,633
Single-family properties under development and development land
1,139,179
1,233,586
Single-family properties and land held for sale, net
235,549
225,861
Total real estate assets, net
12,408,537
12,471,080
Cash and cash equivalents
63,301
108,516
Restricted cash
144,863
122,174
Rent and other receivables
48,241
43,119
Escrow deposits, prepaid expenses and other assets
239,103
228,017
Investments in unconsolidated joint ventures
150,714
148,935
Goodwill
120,279
120,279
Total assets
$ 13,175,038
$ 13,242,120
Liabilities
Revolving credit facility
$ 390,000
$ 360,000
Unsecured senior notes, net
4,737,926
4,735,735
Accounts payable and accrued expenses
447,118
436,879
Total liabilities
5,575,044
5,532,614
Commitments and contingencies
Equity
Shareholders' equity:
Class A common shares ($0.01 par value per share, 450,000,000 shares authorized, 363,160,711 and
366,021,665 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively)
3,632
3,660
Class B common shares ($0.01 par value per share, 50,000,000 shares authorized, 635,075 shares issued
and outstanding at March 31, 2026 and December 31, 2025)
6
6
Preferred shares ($0.01 par value per share, 100,000,000 shares authorized, 9,200,000 shares issued and
outstanding at March 31, 2026 and December 31, 2025)
92
92
Additional paid-in capital
7,297,948
7,411,003
Accumulated deficit
(380,213)
(387,643)
Accumulated other comprehensive income
6,320
6,630
Total shareholders' equity
6,927,785
7,033,748
Noncontrolling interest
672,209
675,758
Total equity
7,599,994
7,709,506
Total liabilities and equity
$ 13,175,038
$ 13,242,120
AMH
Condensed Consolidated Statements of Operations
(Amounts in thousands, except share and per share data)
(Unaudited)
For the Three Months Ended
March 31,
2026
2025
Rents and other single-family property revenues
$ 472,024
$ 459,276
Expenses:
Property operating expenses
168,709
167,530
Property management expenses
33,284
34,181
General and administrative expense
21,332
19,671
Interest expense
48,222
45,426
Acquisition, disposition and other transaction costs
3,060
3,061
Depreciation and amortization
127,344
124,928
Total expenses
401,951
394,797
Gain on sale and impairment of single-family properties and other, net
78,444
62,016
Loss on early extinguishment of debt
—
(216)
Other income and expense, net
327
2,434
Net income
148,844
128,713
Noncontrolling interest
17,590
15,255
Dividends on preferred shares
3,486
3,486
Net income attributable to common shareholders
$ 127,768
$ 109,972
Weighted-average common shares outstanding:
Basic
364,281,692
370,372,388
Diluted
364,498,367
370,761,741
Net income attributable to common shareholders per share:
Basic
$ 0.35
$ 0.30
Diluted
$ 0.35
$ 0.30
Defined Terms
Average Monthly Realized Rent
For the related period, Average Monthly Realized Rent is calculated as the lease component of rents and other single-family property revenues (i.e., rents from single-family properties) divided by the product of (a) number of properties and (b) Average Occupied Days Percentage, divided by the number of months. For properties partially owned during the period, this calculation is adjusted to reflect the number of days of ownership.
Average Occupied Days Percentage
The number of days a property is occupied in the period divided by the total number of days the property is owned during the same period after initially being placed in-service. This calculation excludes properties classified as held for sale.
Occupied Property
A property is classified as occupied upon commencement (i.e., start date) of a lease agreement, which can occur contemporaneously with or subsequent to execution (i.e., signature).
Recurring Capital Expenditures
For our Same-Home portfolio, Recurring Capital Expenditures includes replacement costs and other capital expenditures recorded during the period that are necessary to help preserve the value and maintain functionality of our properties. For our total portfolio, we calculate Recurring Capital Expenditures by multiplying (a) current period actual Recurring Capital Expenditures per Same-Home property by (b) our total number of properties, excluding newly acquired non-stabilized properties and properties classified as held for sale.
Same-Home Property
A property is classified as Same-Home if it has been stabilized longer than 90 days prior to the beginning of the earliest period presented under comparison. A property is removed from Same-Home if it has been classified as held for sale or has experienced a casualty loss.
Stabilized Property
A property acquired individually (i.e., not through a bulk purchase) is classified as stabilized once it has been renovated by the Company or newly constructed and then initially leased or available for rent for a period greater than 90 days. Properties acquired through a bulk purchase are first considered non-stabilized, as an entire group, until (1) we have owned them for an adequate period of time to allow for complete on-boarding to our operating platform, and (2) a substantial portion of the properties have experienced tenant turnover at least once under our ownership, providing the opportunity for renovations and improvements to meet our property standards. After such time has passed, properties acquired through a bulk purchase are then evaluated on an individual property basis under our standard stabilization criteria.
Non-GAAP Financial Measures
This press release and the First Quarter 2026 Earnings Release and Supplemental Information Package include Funds from Operations attributable to common share and unit holders ("FFO attributable to common share and unit holders"), Core FFO attributable to common share and unit holders, Adjusted FFO attributable to common share and unit holders, Retained Cash Flow, Core NOI and Same-Home Core NOI, which are non-GAAP financial measures. We believe these measures are helpful in understanding our financial performance and are widely used in the REIT industry. Because other REITs may not compute these financial measures in the same manner, they may not be comparable among REITs. In addition, these metrics are not substitutes for net income or loss or net cash flows from operating activities, as defined by GAAP, as measures of our operating performance, liquidity or ability to pay dividends. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measures are included in this press release and in the First Quarter 2026 Earnings Release and Supplemental Information Package.
Funds from Operations attributable to common share and unit holders and Retained Cash Flow
FFO attributable to common share and unit holders is a non-GAAP financial measure that we calculate in accordance with the definition approved by the National Association of Real Estate Investment Trusts, which defines FFO as net income or loss calculated in accordance with GAAP, excluding gains and losses from sales or impairment of real estate, plus real estate-related depreciation and amortization (excluding amortization of deferred financing costs and depreciation of non-real estate assets), and after adjustments for unconsolidated real estate joint ventures to reflect FFO on the same basis.
Core FFO attributable to common share and unit holders is a non-GAAP financial measure that we use as a supplemental measure of our performance. We compute this metric by adjusting FFO attributable to common share and unit holders for (1) acquisition, disposition, other transaction costs and other incurred with business combinations and the acquisition or disposition of properties as well as nonrecurring items unrelated to ongoing operations and adjustments for investments in proptech venture capital funds related to the pro rata equity pickup of realized and unrealized gains and losses from their portfolio investments, (2) noncash share-based compensation expense, (3) hurricane-related charges, net, which result in material charges to our single-family property portfolio, (4) gain or loss on early extinguishment of debt and (5) the allocation of income to our perpetual preferred shares in connection with their redemption.
Adjusted FFO attributable to common share and unit holders is a non-GAAP financial measure that we use as a supplemental measure of our performance. We compute this metric by adjusting Core FFO attributable to common share and unit holders for (1) Recurring Capital Expenditures that are necessary to help preserve the value and maintain functionality of our properties and (2) capitalized leasing costs incurred during the period. As a portion of our homes are recently developed, acquired and/or renovated, we estimate Recurring Capital Expenditures for our entire portfolio by multiplying (a) current period actual Recurring Capital Expenditures per Same-Home Property by (b) our total number of properties, excluding newly acquired non-stabilized properties and properties classified as held for sale.
We present FFO attributable to common share and unit holders, as well as on a per FFO share and unit basis, because we consider this metric to be an important measure of the performance of real estate companies, as do many investors and analysts in evaluating the Company. We believe that FFO attributable to common share and unit holders provides useful information to investors because this metric excludes depreciation, which is included in computing net income and assumes the value of real estate diminishes predictably over time. We believe that real estate values fluctuate due to market conditions and in response to inflation. We also believe that Core FFO and Adjusted FFO attributable to common share and unit holders, as well as on a per FFO share and unit basis, provide useful information to investors because they allow investors to compare our operating performance to prior reporting periods without the effect of certain items that, by nature, are not comparable from period to period.
FFO shares and units include weighted-average common shares and operating partnership units outstanding, as well as potentially dilutive securities.
Retained Cash Flow is a non-GAAP financial measure that we believe is helpful as a supplemental measure in assessing the Company's liquidity. This metric is computed by reducing Adjusted FFO attributable to common share and unit holders by common distributions.
FFO, Core FFO and Adjusted FFO attributable to common share and unit holders and Retained Cash Flow are not substitutes for net income or net cash provided by operating activities, each as determined in accordance with GAAP, as a measure of our operating performance, liquidity or ability to pay dividends. These metrics also are not necessarily indicative of cash available to fund future cash needs. Because other REITs may not compute these measures in the same manner, they may not be comparable among REITs.
The following is a reconciliation of net income or loss attributable to common shareholders to FFO attributable to common share and unit holders, Core FFO attributable to common share and unit holders, Adjusted FFO attributable to common share and unit holders and Retained Cash Flow for the three months ended March 31, 2026 and 2025 (amounts in thousands, except share and per share data):
For the Three Months Ended
March 31,
2026
2025
(Unaudited)
(Unaudited)
Net income attributable to common shareholders
$ 127,768
$ 109,972
Adjustments:
Noncontrolling interests in the Operating Partnership
17,590
15,255
Gain on sale and impairment of single-family properties and other, net
(78,444)
(62,016)
Adjustments for unconsolidated real estate joint ventures
1,913
1,484
Depreciation and amortization
127,344
124,928
Less: depreciation and amortization of non-real estate assets
(5,663)
(5,365)
FFO attributable to common share and unit holders
$ 190,508
$ 184,258
Adjustments:
Acquisition, disposition, other transaction costs and other
4,002
4,090
Noncash share-based compensation - general and administrative
Core FFO attributable to common share and unit holders
$ 200,076
$ 194,677
Recurring Capital Expenditures
(12,065)
(16,829)
Leasing costs
(627)
(1,239)
Adjusted FFO attributable to common share and unit holders
$ 187,384
$ 176,609
Common distributions
(136,883)
(127,137)
Retained Cash Flow
$ 50,501
$ 49,472
Per FFO share and unit:
FFO attributable to common share and unit holders
$ 0.46
$ 0.44
Core FFO attributable to common share and unit holders
$ 0.48
$ 0.46
Adjusted FFO attributable to common share and unit holders
$ 0.45
$ 0.42
Weighted-average FFO shares and units:
Common shares outstanding
364,281,692
370,372,388
Share-based compensation plan (1)
477,403
761,171
Operating partnership units
50,152,313
51,376,980
Total weighted-average FFO shares and units
414,911,408
422,510,539
(1)
Reflects the effect of potentially dilutive securities issuable upon the assumed vesting/exercise of restricted stock units and stock options under the treasury stock method.
The following is a reconciliation of net income per common share–diluted to FFO attributable to common share and unit holders, Core FFO attributable to common share and unit holders and Adjusted FFO attributable to common share and unit holders on a per share and unit basis for the three months ended March 31, 2026 and 2025:
For the Three Months Ended
March 31,
2026
2025
(Unaudited)
(Unaudited)
Net income per common share–diluted
$ 0.35
$ 0.30
Adjustments:
Conversion from GAAP share count
(0.04)
(0.04)
Noncontrolling interests in the Operating Partnership
0.04
0.04
Gain on sale and impairment of single-family properties and other, net
(0.19)
(0.15)
Depreciation and amortization
0.31
0.30
Less: depreciation and amortization of non-real estate assets
(0.01)
(0.01)
FFO attributable to common share and unit holders
$ 0.46
$ 0.44
Adjustments:
Acquisition, disposition, other transaction costs and other
0.01
0.01
Noncash share-based compensation - general and administrative
0.01
0.01
Core FFO attributable to common share and unit holders
$ 0.48
$ 0.46
Recurring Capital Expenditures
(0.03)
(0.04)
Adjusted FFO attributable to common share and unit holders
$ 0.45
$ 0.42
Core Net Operating Income
Core NOI, which we also present separately for our Same-Home portfolio, is a supplemental non-GAAP financial measure that we define as core revenues, which is calculated as rents and other single-family property revenues, excluding expenses reimbursed by tenant charge-backs, less core property operating expenses, which is calculated as property operating and property management expenses, excluding noncash share-based compensation expense and expenses reimbursed by tenant charge-backs.
Core NOI also excludes (1) hurricane-related charges, net, which result in material charges to our single-family property portfolio, (2) gain or loss on early extinguishment of debt, (3) gains and losses from sales or impairments of single-family properties and other, (4) depreciation and amortization, (5) acquisition, disposition and other transaction costs incurred with business combinations and the acquisition or disposition of properties as well as nonrecurring items unrelated to ongoing operations, (6) noncash share-based compensation expense, (7) interest expense, (8) general and administrative expense, and (9) other income and expense, net. We believe Core NOI provides useful information to investors about the operating performance of our single-family properties without the impact of certain operating expenses that are reimbursed through tenant charge-backs.
Core NOI and Same-Home Core NOI should be considered only as supplements to net income or loss as a measure of our performance and should not be used as measures of our liquidity, nor are they indicative of funds available to fund our cash needs, including our ability to pay dividends or make distributions. Additionally, these metrics should not be used as substitutes for net income or loss or net cash flows from operating activities (as computed in accordance with GAAP).
The following are reconciliations of core revenues, Same-Home core revenues, core property operating expenses, Same-Home core property operating expenses, Core NOI and Same-Home Core NOI to their respective GAAP metrics for the three months ended March 31, 2026 and 2025 (amounts in thousands):
For the Three Months Ended
March 31,
2026
2025
(Unaudited)
(Unaudited)
Core revenues and Same-Home core revenues
Rents and other single-family property revenues
$ 472,024
$ 459,276
Tenant charge-backs
(65,900)
(63,861)
Core revenues
406,124
395,415
Less: Non-Same-Home core revenues
(40,277)
(38,124)
Same-Home core revenues
$ 365,847
$ 357,291
Core property operating expenses and Same-Home core property operating expenses
For the quarter ended March 2026, American Homes 4 Rent (AMH - Free Report) reported revenue of $472.02 million, up 2.8% over the same period last year. EPS came in at $0.48, compared to $0.32 in the year-ago quarter.
The reported revenue represents a surprise of +0.97% over the Zacks Consensus Estimate of $467.48 million. With the consensus EPS estimate being $0.48, the EPS surprise was +0.88%.
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 American Homes 4 Rent performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenues- Same-Home core revenues: $365.85 million versus $354.2 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +2.3% change.Revenues- Tenant charge-backs: $65.9 million compared to the $63.76 million average estimate based on four analysts. The reported number represents a change of +3.2% year over year.Revenues- Core revenues: $406.12 million compared to the $403.36 million average estimate based on four analysts. The reported number represents a change of +2.7% year over year.Revenues- Non-Same-Home core revenues: $40.28 million versus the four-analyst average estimate of $49.16 million. The reported number represents a year-over-year change of +7%.Net Earnings Per Share (Diluted): $0.35 compared to the $0.16 average estimate based on four analysts.View all Key Company Metrics for American Homes 4 Rent here>>>
Shares of American Homes 4 Rent have returned +10.3% over the past month versus the Zacks S&P 500 composite's +10.3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
American Homes 4 Rent (AMH - Free Report) came out with quarterly funds from operations (FFO) of $0.48 per share, in line with the Zacks Consensus Estimate . This compares to FFO of $0.46 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an FFO surprise of +0.88%. A quarter ago, it was expected that this real estate company would post FFO of $0.47 per share when it actually produced FFO of $0.47, delivering no surprise.
Over the last four quarters, the company has surpassed consensus FFO estimates three times.
American Homes 4 Rent, which belongs to the Zacks REIT and Equity Trust - Residential industry, posted revenues of $472.02 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 0.97%. This compares to year-ago revenues of $459.28 million. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future FFO expectations will mostly depend on management's commentary on the earnings call.
American Homes 4 Rent shares have added about 0.6% since the beginning of the year versus the S&P 500's gain of 6%.
What's Next for American Homes 4 Rent?While American Homes 4 Rent 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 FFO outlook. Not only does this include current consensus FFO 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 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 estimate revisions.
Ahead of this earnings release, the estimate revisions trend for American Homes 4 Rent was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus FFO estimate is $0.48 on $463.94 million in revenues for the coming quarter and $1.92 on $1.89 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, REIT and Equity Trust - Residential is currently in the bottom 13% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the broader Zacks Finance sector, Reinsurance Group (RGA - Free Report) , has yet to report results for the quarter ended March 2026. The results are expected to be released on May 7.
This reinsurance company is expected to post quarterly earnings of $6.19 per share in its upcoming report, which represents a year-over-year change of +9.4%. The consensus EPS estimate for the quarter has been revised 0.5% lower over the last 30 days to the current level.
Reinsurance Group's revenues are expected to be $6.42 billion, up 20.3% from the year-ago quarter.
