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Equitable Holdings, Inc. (EQH) Q1 2026 Earnings Call Transcript

HOUSTON & NEW YORK--(BUSINESS WIRE)--Corebridge Financial (NYSE: CRBG) (“Corebridge”) and Equitable Holdings, Inc. (NYSE: EQH) (“Equitable Holdings”) today announced the leadership team for the future combined company, effective upon completion of the previously announced merger.

“Together, the complementary offerings and capabilities of Corebridge and Equitable will enhance customer outcomes and drive long-term shareholder value. This will require a leadership team that is uniquely positioned to deliver on behalf of our stakeholders and lead the new company forward,” said Marc Costantini, President and Chief Executive Officer of Corebridge, who will serve as Chief Executive Officer of the combined company. “The exceptional talent and leadership we intend to bring together will enable us to move with speed, clarity and confidence once the transaction is complete.”

“When two organizations come together, our focus must go beyond combining capabilities to include the culture that will give those capabilities meaning and purpose,” said Mark Pearson, President and Chief Executive Officer of Equitable Holdings, who will serve as Executive Chair of the combined company. “Our leadership team understands this responsibility and is committed to creating a new culture that draws on the strengths of both organizations and keeps clients at the heart of every decision.”

Today, the company announced the following leaders will report to Chief Executive Officer Marc Costantini upon close:

As previously announced, Robin M. Raju will serve as Chief Financial Officer of the combined company, with responsibility for financial reporting, asset-liability management, strategic financial planning, M&A and investor relations, in addition to key capital management initiatives that drive growth and shareholder value. He will also oversee investment management for the combined company’s separate account funds. Mr. Raju is currently Chief Financial Officer for Equitable Holdings and has been with the company for more than two decades. Jeffrey J. Hurd will serve as Chief Operating Officer and Chief Human Resources Officer, overseeing client and advisor support and service operations, human resources, marketing, communications and corporate services for the combined company. He will also lead the joint Integration Office, ensuring a structured and consistent approach for integrating the two organizations post-close. Mr. Hurd currently serves as Chief Operating Officer for Equitable Holdings, a role he has held for nearly a decade, following a 20-year career with AIG. Polly Klane will serve as General Counsel and Chief Legal Officer, overseeing all legal, compliance, board governance, regulatory and governmental affairs for the combined company. Ms. Klane is currently General Counsel and Chief Legal Officer for Corebridge and previously served as General Counsel and Chief Legal Officer for Citizens Financial Group. Seth Bernstein will continue to serve as Chief Executive Officer of AllianceBernstein, the combined company’s global asset management business serving institutional, high-net-worth and retail investors. Onur Erzan, who was recently appointed President of AllianceBernstein and leads the firm’s Private Wealth Management, Global Asset Management Distribution and Global Private Alternatives businesses, will also join the combined company’s leadership team. John Byrne will lead Individual Distribution, overseeing the combined company’s wholesale distribution network for its annuity and life insurance products. This will include more than 900 relationships with banks, broker-dealers and independent marketing organizations. Mr. Byrne is currently President of Financial Distributors for Corebridge and has been with the company for more than two decades. David Karr will lead the combined company’s Wealth Management business, which will include Equitable Advisors and Corebridge financial professionals. Mr. Karr has been with the company for three decades and currently serves as Chair of Equitable Advisors, overseeing the growth strategy for Equitable Holdings’ fastest-growing business. Lisa Longino will serve as Chief Investment Officer, responsible for leading the investment strategy for the combined company’s c.$366 billion General Account. Ms. Longino currently serves as Chief Investment Officer for Corebridge, a role she has held since 2023. Prior to this, she was Head of Global Investment Strategy for Prudential Financial, after spending two decades at MetLife. Jonathan Novak will lead Institutional Markets for the combined company, which will serve public and corporate pension plans, endowments and foundations, insurers and other large financial institutions. Mr. Novak currently leads Institutional Markets, enterprise in-force management and reinsurance for Corebridge. He has been with the company for nearly 15 years. Bryan Pinsky will lead the Individual Retirement and Life Insurance businesses, which will include the combined company’s leading annuity and life insurance portfolios. Mr. Pinsky currently serves as Corebridge’s President of Individual Retirement and Life Insurance. He has been with the company for more than a decade, previously serving as President of Individual Retirement. Steve Scanlon will lead Group Retirement, overseeing the combined company’s workplace retirement offerings, which will include leading positions in the 403(b) and 457 markets, and its Employee Benefits business. Mr. Scanlon currently leads Equitable’s Individual Retirement business, previously led its Group Retirement business and has been with the company for more than 15 years, including a decade at AllianceBernstein. David Ditillo will serve as Chief Information Technology Officer, leading the combined company’s aspiration to enhance the customer experience through technology and digital solutions. Mr. Ditillo currently serves as Chief Information Officer for Corebridge, a role he has held since 2020, and also oversees resiliency and physical security for the company. Prior to this, he spent two decades at MetLife. Julia Zhang will serve as Chief Risk Officer, responsible for the combined company’s Enterprise Risk Management function to protect the new company’s balance sheet, while supporting growth. She will also have administrative oversight of the Audit function. Ms. Zhang is currently Chief Risk Officer for Equitable Holdings and has been with the company for nearly two decades, previously serving as Head of Treasury and Derivatives. On March 26, 2026, Corebridge Financial and Equitable Holdings announced the intention to combine in an all-stock merger to create a leading retirement, life, wealth and asset management company with more than 12 million customers and $1.5 trillion in assets under management and administration. The transaction is expected to close by year-end 2026, subject to shareholder and regulatory approvals and the satisfaction of other customary closing conditions.

About Corebridge Financial

Corebridge Financial, Inc. (NYSE: CRBG) makes it possible for more people to take action in their financial lives. With more than $380 billion in assets under management and administration as of March 31, 2026, Corebridge Financial is one of the largest providers of retirement solutions and insurance products in the United States. We proudly partner with financial professionals and institutions to help individuals plan, save for and achieve secure financial futures. For more information, visit corebridgefinancial.com and follow us on LinkedIn, YouTube and Instagram. These references with additional information about Corebridge have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release.

About Equitable Holdings

Equitable Holdings, Inc. (NYSE: EQH) is a leading financial services holding company comprised of complementary and well-established businesses, Equitable, AllianceBernstein and Equitable Advisors. Equitable Holdings has $1.1 trillion in assets under management and administration (as of 3/31/2026) and more than 5 million client relationships globally. Founded in 1859, Equitable provides retirement and protection strategies to individuals, families and small businesses. AllianceBernstein is a global investment management firm that offers diversified investment services to institutional investors, individuals and private wealth clients. Equitable Advisors, LLC (Equitable Financial Advisors in MI and TN) has approximately 4,600 duly registered and licensed financial professionals that provide financial planning, wealth management, retirement planning, protection and risk management services to clients across the country.

Cautionary Statement Regarding Forward-Looking Information

This press release includes statements, which, to the extent they are not statements of historical or present fact, constitute “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements, and any related oral statements, can be identified by the use of terms such as “believes,” “expects,” “may,” “will,” “shall,” “should,” “would,” “could,” “seeks,” “aims,” “projects,” “forecasts,” “intends,” “targets,” “plans,” “estimates,” “anticipates,” “goals,” “guidance,” “formidable,” “preliminary,” “objective,” “continue,” “drive,” “improve,” “superior,” “robust,” “positioned,” “resilient,” “vision,” “potential,” “immediate,” and similar expressions or the negative of those expressions or verbs. We caution you that forward-looking statements are not guarantees of future performance or outcomes. Forward-looking statements are not historical facts but instead represent only our beliefs regarding future events, which may by their nature be inherently uncertain, and some of which may be outside our control. These statements include, but are not limited to, statements about the potential repurchases of shares of common stock, the expected timing and completion of the proposed transaction between Corebridge Financial, Inc. (“Corebridge”) and Equitable Holdings, Inc. (“Equitable Holdings”) (the “Proposed Transaction”), the anticipated benefits of the Proposed Transaction, including estimated synergies and projected cost savings, and plans and expectations for Corebridge, Equitable Holdings or their new parent company after completion of the Proposed Transaction.

Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Key factors include, among others, the ability to repurchase shares (if Corebridge and / or Equitable Holdings decide to do so) within the expected timing or at all; the ability to complete the Proposed Transaction on the timeframe or on the terms currently anticipated or at all, including due to a failure to obtain requisite stockholder, stock exchange, regulatory, governmental or other approvals; risks related to difficulties, inabilities or delays in integrating the parties’ businesses; the ability to realize the anticipated benefits of the Proposed Transaction, including estimated run-rate expense synergies and projected cost savings at the times, and to the extent, anticipated, as well as expected operating earnings and cashflow generation; the occurrence of any event, change or other circumstance that could give rise to the right of either or both parties to terminate the merger agreement; the potential impact of the announcement or consummation of the Proposed Transaction on Corebridge or Equitable Holdings’ stock price and on their respective business, contractual and operational relationships (including with regulatory bodies, employees, suppliers, clients and competitors); risks related to business disruptions from the Proposed Transaction that may harm the business or current plans and operations of either or both parties, including diversion of management time from ongoing business operations; the risk that the Proposed Transaction and its announcement could have an adverse effect on the ability of either or both parties to hire and retain key personnel; the parties’ ability to raise debt on favorable terms or at all; the outcome of any legal proceedings that may be instituted against Corebridge, Equitable Holdings, their new parent company or their respective directors; restrictions on the conduct of Corebridge and Equitable Holdings’ respective businesses prior to the closing of the Proposed Transaction and on each of their ability to pursue alternatives to the Proposed Transaction; the possibility that the Proposed Transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events, or unforeseen or unknown liabilities; the deterioration of economic conditions; geopolitical tensions; the potential impact of a downgrade in Corebridge or Equitable Holdings’ Insurer Financial Strength ratings or credit ratings or of the new parent company of Corebridge and Equitable Holdings following completion of the Proposed Transaction; other factors that may affect future results of Corebridge and Equitable Holdings; and management’s response to any of the aforementioned factors.

The foregoing list of factors is not exhaustive. You should carefully consider these factors and the other risks and uncertainties described in the “Risk Factors” section of the new parent company’s Registration Statement on Form S-4 and other documents filed or furnished by Corebridge and Equitable Holdings from time to time with the U.S. Securities and Exchange Commission (the “SEC”), including their Annual Reports on Form 10-K for the year ended December 31, 2025. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. If any of these risks materialize or our assumptions prove incorrect, actual events and results could differ materially from those contained in the forward-looking statements. There may be additional risks that neither Corebridge nor Equitable Holdings presently know or that Corebridge and Equitable Holdings currently believe are immaterial that could also cause actual events and results to differ materially from those contained in the forward-looking statements. In addition, forward-looking statements reflect Corebridge and Equitable Holdings’ expectations, plans or forecasts of future events and views as of the date of this press release. Corebridge and Equitable Holdings anticipate that subsequent events and developments will cause Corebridge and Equitable Holdings’ assessments to change. While Corebridge and Equitable Holdings may elect to update these forward-looking statements at some point in the future, Corebridge and Equitable Holdings specifically disclaim any obligation to do so, unless required by applicable law. Neither Corebridge nor Equitable Holdings gives any assurance that Corebridge, Equitable Holdings or their new parent company will achieve the results or other matters set forth in the forward-looking statements.

No Offer or Solicitation

This press release is not intended to and shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended (the “Securities Act”), or in a transaction exempt from the registration requirements of the Securities Act.

Important Information and Where to Find It

This press release relates to the Proposed Transaction, which is the subject of a Registration Statement on Form S-4 filed by the new parent company with the SEC. The Registration Statement includes a joint proxy statement of Corebridge and Equitable Holdings that also constitutes a prospectus of the new parent company. After the Registration Statement has been declared effective, the definitive joint proxy statement/prospectus will be mailed to the stockholders of each of Corebridge and Equitable Holdings. This press release is not a substitute for the Registration Statement that the new parent company has filed with the SEC or any other documents that may be sent to Corebridge’s stockholders or Equitable Holdings’ stockholders in connection with the Proposed Transaction.

INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT ON FORM S-4 AND THE JOINT PROXY STATEMENT/PROSPECTUS , AS WELL AS ANY OTHER RELEVANT DOCUMENTS FILED WITH, OR FURNISHED TO, THE SEC IN CONNECTION WITH THE PROPOSED TRANSACTION OR INCORPORATED BY REFERENCE INTO THE JOINT PROXY STATEMENT/PROSPECTUS, BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION REGARDING COREBRIDGE, EQUITABLE HOLDINGS, THEIR NEW PARENT COMPANY, THE PROPOSED TRANSACTION AND RELATED MATTERS.

Investors and security holders may obtain free copies of these documents and other documents filed with the SEC by Corebridge or Equitable Holdings through the website maintained by the SEC at http://www.sec.gov, or from Corebridge at its website, https://www.corebridgefinancial.com, or from Equitable Holdings at its website, https://equitableholdings.com (information included on or accessible through either of Corebridge or Equitable Holdings’ website is not incorporated by reference into this press release).

Participants in the Solicitation

Corebridge and Equitable Holdings and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from Corebridge’s stockholders or Equitable Holdings’ stockholders in connection with the Proposed Transaction under the rules of the SEC. Information about the directors and executive officers of Corebridge, including a description of their direct or indirect interests, by security holdings or otherwise, is set forth in Corebridge’s definitive proxy statement for its 2025 Annual Meeting of Stockholders, which was filed with the SEC on April 16, 2025, including under the headings “Compensation Discussion and Analysis,” “Compensation Tables” and “Security Ownership of 5% Beneficial Owners, Directors and Executive Officers.” To the extent holdings of Corebridge’s common stock by the directors and executive officers of Corebridge have changed or do change from the amounts of Corebridge’s common stock held by such persons as reflected therein, such changes have been or will be reflected on Initial Statements of Beneficial Ownership of Securities on Form 3 (“Form 3”), Statements of Changes in Beneficial Ownership on Form 4 (“Form 4”) or Annual Statements of Changes in Beneficial Ownership of Securities on Form 5 (“Form 5”), in each case filed with the SEC. Information about the directors and executive officers of Equitable Holdings, including a description of their direct or indirect interests, by security holdings or otherwise, is set forth in Equitable Holdings’ definitive proxy statement for its 2025 Annual Meeting of Stockholders, which was filed with the SEC on April 4, 2025, including under the headings “Executive Compensation” and “Certain Relationships and Related Person Transactions.” To the extent holdings of Equitable Holdings’ common stock by the directors and executive officers of Equitable Holdings have changed or do change from the amounts of Equitable Holdings’ common stock held by such persons as reflected therein, such changes have been or will be reflected on Forms 3, Forms 4 or Forms 5, in each case filed with the SEC. Other information regarding persons who may, under the rules of the SEC, be deemed participants in the proxy solicitation of Corebridge or Equitable Holdings’ stockholders in connection with the Proposed Transaction and a description of their direct and indirect interests, by security holdings or otherwise, is included in the Registration Statement. You may obtain free copies of these documents at the SEC’s website at www.sec.gov. Copies of documents filed with the SEC by Corebridge or Equitable Holdings will also be available free of charge from Corebridge or Equitable Holdings using the contact information above.

More News From Equitable Holdings, Inc. and Corebridge Financial, Inc.

Key Takeaways Equitable Holdings raised its quarterly dividend 11.1% to 30 cents per share, payable June 8.EQH posted $499M in Q1 operating cash flow, up sharply from $158M a year earlier.Equitable plans to merge with Corebridge in a deal creating $1.5T in assets under management. Equitable Holdings, Inc. (EQH - Free Report) recently approved an 11.1% increase in its quarterly dividend, raising the payout to 30 cents per share from 27 cents earlier. The dividend will be paid on June 8, 2026, to shareholders on record as of June 1. At the new annualized rate of $1.20 per share, the stock offers a dividend yield of 2.83%, calculated based on the closing price on May 20, which is comfortably above the industry average of 2.51%.

The company also declared preferred stock dividends, including $328.13 per share on its Series A 5.25% Non-Cumulative Perpetual Preferred Stock and $268.75 per share on its Series C 4.30% Non-Cumulative Perpetual Preferred Stock.

Equitable Holdings’ balance sheet continues to support its shareholder-friendly approach. The company ended the first quarter of 2026 with nearly $131.6 billion in investments and cash, while long-term debt remained relatively modest at $3.8 billion. Operating cash flow came in at $499 million during the quarter, sharply higher than the $158 million reported a year earlier.

Shareholder returns remained a priority in the March quarter. Equitable Holdings paid $76 million in cash dividends and bought back $147 million worth of shares. Management continues to target a 60-70% payout ratio of non-GAAP operating earnings in 2026.

Beyond capital returns, EQH is preparing for a transformative combination with Corebridge Financial, Inc. (CRBG - Free Report) . The all-stock merger, announced in March, is expected to create a company with nearly $1.5 trillion in assets under management. The combined entity will retain the Equitable name, trade under the EQH ticker on the NYSE, and be headquartered in Houston.

EQH’s Price PerformanceShares of Equitable Holdings have declined 11% in the year-to-date period, underperforming the industry’s 3.7% fall.

Image Source: Zacks Investment Research

Zacks Rank & Key PicksEquitable Holdings currently has a Zacks Rank #5 (Strong Sell).

Investors interested in the broader Finance space can look at some better-ranked stocks like Slide Insurance Holdings, Inc. (SLDE - Free Report) and CNO Financial Group, Inc. (CNO - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The Zacks Consensus Estimate for Slide Insurance’s 2026 earnings indicates 4.5% year-over-year growth. It has witnessed two upward estimate revisions in the past month against no downward movement. It beat earnings estimates in each of the past four quarters, with an average surprise of 41.8%. Furthermore, the consensus estimate for Slide Insurance’s 2026 revenues implies 25.9% year-over-year growth.

The consensus mark for CNO Financial’s 2026 full-year earnings indicates 6.9% year-over-year growth. It beat earnings estimates in each of the past four quarters, with an average surprise of 16.9%. Also, the consensus mark for CNO Financial’s 2026 revenues is pegged at $3.99 billion.

– If confirmed by the European Commission, REDEMPLO would be the first and only siRNA medicine authorized in the EU for both genetically confirmed and clinically diagnosed adult patients with FCS

– People living with FCS have extremely high triglyceride levels and a substantially higher risk of acute pancreatitis and related long-term complications, often resulting in a reduced quality of life

– The CHMP opinion is based on positive results from the Phase 3 PALISADE study where REDEMPLO reduced triglycerides by a median of 80% from baseline and significantly fewer cases of acute pancreatitis were seen in patients using REDEMPLO compared with those using placebo

PASADENA, Calif.--(BUSINESS WIRE)--Arrowhead Pharmaceuticals, Inc. (NASDAQ: ARWR) today announced that the European Medicines Agency’s Committee for Medicinal Products for Human Use (EMA CHMP) has adopted a positive opinion, recommending the approval of REDEMPLO® (plozasiran), a small interfering RNA (siRNA) medicine, as an adjunct to diet to reduce triglyceride levels in adult patients with familial chylomicronemia syndrome (FCS). FCS remains widely underdiagnosed and affects an estimated 1 to 13 people per million globally. This rare disease is characterized by triglyceride levels that can be orders of magnitude higher than normal, leading to a substantially higher risk of developing acute, recurrent, and potentially fatal pancreatitis.

We are pleased with the CHMP’s recommendation, which brings us closer to potential approval of REDEMPLO as a new treatment option for people living with genetically or clinically confirmed FCS across Europe

Share The European Commission is expected to issue a decision on REDEMPLO’s Marketing Authorization in the second quarter of 2026. If approved, REDEMPLO will be the first and only siRNA medicine authorized in the European Union for both genetically confirmed and clinically diagnosed adult patients with FCS. This recommendation follows approvals in the United States, Canada, and China, as Arrowhead continues its efforts to increase global access to care for people living with FCS.

In a press release announcing the positive opinion, EMA stated, "Although other authorised medicines can help people with FCS confirmed by genetic testing, REDEMPLO does not require genetic confirmation of the condition, thus providing a treatment option for more adults with FCS and addressing the unmet medical need in these patients."

“We are pleased with the CHMP’s recommendation, which brings us closer to potential approval of REDEMPLO as a new treatment option for people living with genetically or clinically confirmed FCS across Europe,” said Christopher Anzalone, Ph.D., President and CEO at Arrowhead Pharmaceuticals. “This milestone reflects the strength of the clinical data and the ability of our TRiM™ platform to enable targeted siRNA therapies to potentially reach multiple tissues and disease areas. We believe REDEMPLO could represent an important new option for the FCS community in Europe, and we are working with regulators and the healthcare community to bring this therapy to more patients as quickly as possible.”

Harnessing Arrowhead’s proprietary Targeted RNAi Molecule (TRiM™) platform, REDEMPLO is designed to silence the mRNA encoding apolipoprotein C-III (apoC-III). ApoC-III is a key regulator of triglyceride metabolism that inhibits triglyceride catabolism and clearance, resulting in elevated triglyceride levels. Individuals with genetic loss-of-function variants in APOC3 typically have markedly lower triglyceride levels and a reduced risk of atherosclerotic cardiovascular disease.

The CHMP positive opinion was supported by clinical data from the Phase 3 PALISADE study, a randomized, double-blind, placebo-controlled trial in adults with clinically diagnosed or genetically confirmed FCS. The PALISADE study met its primary endpoint and all multiplicity-controlled key secondary endpoints, including demonstrating significant reductions in triglycerides and apoC-III and in the incidence of acute pancreatitis in the pooled dose groups. In PALISADE, 25 mg REDEMPLO reduced triglycerides by a median of 80% from baseline versus a 17% reduction with placebo and significantly fewer cases of acute pancreatitis were seen in patients using REDEMPLO compared with those using placebo. REDEMPLO is self-administered via subcutaneous injection once every three months.1,2

The most common adverse reactions are hyperglycaemia (12.8%), headache (6.8%), nausea (4.7%), and injection site reaction (4.7%).

“Patients with FCS face a substantial burden of disease and are at life-long risk of acute pancreatitis, with few effective treatment options available,” said Gerald F Watts, DSc, PhD, MD, FRCP, Professor of Cardio-metabolic Medicine, University of Western Australia. “The results from the PALISADE study demonstrate that plozasiran can achieve substantial and sustained reductions in triglycerides in patients with FCS. These data highlight the potential of targeted RNA interference approaches in addressing conditions like FCS that have so far been difficult to treat. Plozasiran is a major advance in the care of FCS and a significant step toward expanding treatment options for patients across Europe.”

The efficacy and safety results from the PALISADE study were presented at the European Society of Cardiology (ESC) Congress 2024 and the American Heart Association Scientific Sessions 2024 (AHA24) and simultaneously published in The New England Journal of Medicine and Circulation, respectively. ESC, AHA24, and other plozasiran presentations may be accessed on the Events and Presentations page in the Investors section of the Arrowhead website.

REDEMPLO has been granted Orphan Designation by the EMA for the treatment of patients with FCS, and Breakthrough Therapy Designation, Fast Track Designation, and Orphan Drug Designation by the U.S. FDA for the treatment of patients with FCS.

About FCS

Familial chylomicronemia syndrome (FCS) is a severe and rare disease leading to extremely high triglyceride (TG) levels, typically over 10 mmol/L (880 mg/dL). Such severe elevations can lead to various serious signs and symptoms including acute and potentially fatal pancreatitis, chronic abdominal pain, diabetes, hepatic steatosis, and cognitive issues. Currently, there are limited therapeutic options to adequately treat FCS.

About the PALISADE Phase 3 Study

The PALISADE study (NCT05089084) was a Phase 3 placebo-controlled study to evaluate the efficacy and safety of plozasiran in adults with genetically confirmed or clinically diagnosed FCS. The primary endpoint of the study was percent change from baseline in fasting TG versus placebo at Month 10. A total of 75 subjects distributed across 39 different sites in 18 countries were randomized to receive 25 mg plozasiran, 50 mg plozasiran, or matching placebo once every three months. Participants who completed the randomized period were eligible to continue in a 2-part extension period, where all participants receive plozasiran.

About REDEMPLO® (plozasiran)

REDEMPLO (plozasiran) is the first and only siRNA treatment approved in these countries that has been studied in both genetically confirmed and clinically diagnosed patients living with FCS. REDEMPLO is a first-in-class siRNA therapeutic designed to suppress the production of apoC-III, a protein produced in the liver that raises triglyceride levels by slowing their breakdown and clearance. By targeting apoC-III with sustained silencing, REDEMPLO delivers significant reductions in triglyceride levels. REDEMPLO is self-administered via subcutaneous injection once every three months.

The EMA CHMP has adopted a positive opinion recommending the European Marketing Authorization of REDEMPLO (plozasiran), which is already approved by the U.S. Food and Drug Administration, Health Canada, and China’s National Medical Products Administration as an adjunct to diet to reduce triglycerides for adults with Familial Chylomicronemia Syndrome (FCS).

In addition to approvals of REDEMPLO in the U.S., Canada, and China, plozasiran has been submitted to additional global regulatory authorities for review and marketing authorization. Plozasiran is also being investigated in the SHASTA-3 (NCT06347003), SHASTA-4 (NCT06347016), and SHASTA-5 (NCT06880770) Phase 3 studies in adults with severe hypertriglyceridemia and the MUIR-3 (NCT06347133) Phase 3 study in adults with hypertriglyceridemia. In December 2025, plozasiran was granted Breakthrough Therapy designation by the U.S. FDA in severe hypertriglyceridemia.

About Arrowhead Pharmaceuticals

Arrowhead Pharmaceuticals (NASDAQ: ARWR) is a commercial-stage pharmaceutical company developing medicines that treat intractable diseases by silencing the genes that cause them, harnessing the natural RNA interference (RNAi) mechanism. The company has built a broad portfolio of clinical and commercial RNAi therapeutics through its industry-leading targeted RNAi molecule (TRiM™) platform, which can precisely silence genes in a wide range of cell types, including liver, lung, muscle, adipose, and central nervous system tissue. At Arrowhead, we rapidly advance potential best- and first-in-class RNAi treatments for diseases with significant unmet medical need, because every day matters to the patients we serve.

For more information, please visit www.arrowheadpharma.com, or follow us on X (formerly Twitter) at @ArrowheadPharma, LinkedIn, Facebook, and Instagram. To be added to the Company’s email list and receive news directly, please visit http://ir.arrowheadpharma.com/email-alerts.

Safe Harbor Statement under the Private Securities Litigation Reform Act:

This news release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Any statements contained in this release except for historical information may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, words such as “may,” “will,” “expect,” “believe,” “anticipate,” “hope,” “intend,” “plan,” “project,” “could,” “estimate,” “continue,” “target,” “forecast” or “continue” or the negative of these words or other variations thereof or comparable terminology are intended to identify such forward-looking statements. In addition, any statements that refer to projections of our future financial performance, trends in our business, expectations for our product pipeline, products or product candidates or other characterizations of future events or circumstances are forward-looking statements. These forward-looking statements include, but are not limited to, statements about our beliefs and expectations regarding the long-term impacts of REDEMPLO (plozasiran) on patient health and the health care system; our beliefs and expectations regarding the pricing, value, or expected timing for availability of our drugs and drug candidates if approved; and our beliefs and expectations around the potential uses and value of the TRiM™ platform. These statements are based upon our current expectations and speak only as of the date hereof. Actual results or outcomes may differ materially and adversely from those expressed in any forward-looking statements as a result of numerous factors and uncertainties, including the safety and efficacy of our products and product candidates, pricing and reimbursement decisions related to our products if approved, demand for our products, decisions of regulatory authorities and the timing thereof, the duration and impact of regulatory delays in our clinical programs, our ability to finance our operations, the likelihood and timing of the receipt of future milestone and licensing fees, the future success of our scientific studies, the timing for starting and completing clinical trials, rapid technological change in our markets, the enforcement of our intellectual property rights, and the other risks and uncertainties described in our most recent Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q and other documents filed with the Securities and Exchange Commission from time to time. We assume no obligation to update or revise forward-looking statements to reflect new events or circumstances.

Source: Arrowhead Pharmaceuticals, Inc.

1 Watts GF, Rosenson RS, Hegele RA, Goldberg IJ, Gallo A, Mertens A, Baass A, Zhou R, Muhsin M, Hellawell J, et al. Plozasiran for managing persistent chylomicronemia and pancreatitis risk. N Engl J Med. 2024;392:127–137. https://doi.org/10.1056/nejmoa2409368 PMID: 39225259
2 Watts GF, Hegele RA, Rosenson RS et al. Temporal Effects of Plozasiran on Lipids and Lipoproteins in Persistent Chylomicronemia. Circulation. 2025:151(10); 733-736; https://doi.org/10.1161/CIRCULATIONAHA.124.072860 PMID:39549263

More News From Arrowhead Pharmaceuticals, Inc.

– REDEMPLO is the first and only medicine approved for use in the treatment of FCS in Australia, and is authorized for both genetically confirmed and clinically diagnosed adult patients with FCS

– People living with FCS have extremely high triglyceride levels and a substantially higher risk of acute pancreatitis and related long-term complications, often resulting in a reduced quality of life

– The approval in Australia is based on positive results from the Phase 3 PALISADE study where REDEMPLO reduced triglycerides by a median of 80% from baseline and significantly reduced the incidence of acute pancreatitis across pooled doses, as compared with those using placebo

PASADENA, Calif.--(BUSINESS WIRE)--Arrowhead Pharmaceuticals, Inc. (NASDAQ: ARWR) today announced that the Australian Therapeutic Goods Administration (TGA) has approved REDEMPLO® (plozasiran), a small interfering RNA (siRNA) medicine, as an adjunct to diet to reduce triglyceride levels for adult patients with familial chylomicronemia syndrome (FCS) for whom standard triglyceride lowering therapies have been inadequate. FCS is a severe, rare disease characterized by triglyceride levels that can be orders of magnitude higher than normal, leading to a substantially higher risk of developing acute, recurrent, and potentially fatal pancreatitis. FCS remains widely underdiagnosed and affects an estimated 1 to 13 people per million globally.

We are pleased that REDEMPLO is now the first-ever approved treatment for Australians living with genetic or clinical FCS

Share REDEMPLO is the first and only medicine approved for use in the treatment of FCS in Australia, and is authorized for both genetically confirmed and clinically diagnosed adult patients with FCS. This approval by TGA follows approvals in the United States, Canada, and China, and a positive opinion recommending marketing authorization from EMA as Arrowhead continues its efforts to increase global access to care for people living with FCS.

“We are pleased that REDEMPLO is now the first-ever approved treatment for Australians living with genetic or clinical FCS,” said Christopher Anzalone, Ph.D., President and CEO of Arrowhead Pharmaceuticals. “This approval underscores the strength of the clinical data and the ability of our TRiM™ platform to develop targeted siRNA therapies to potentially reach multiple tissues and disease areas. We believe REDEMPLO could represent an important medicine for the FCS community in Australia, and we are working to bring this therapy to more patients as quickly as possible.”

Harnessing Arrowhead’s proprietary Targeted RNAi Molecule (TRiM™) platform, REDEMPLO is designed to silence the mRNA encoding apolipoprotein C-III (apoC-III). ApoC-III is a key regulator of triglyceride metabolism that inhibits triglyceride catabolism and clearance, resulting in elevated triglyceride levels. Individuals with genetic loss-of-function variants in APOC3 typically have markedly lower triglyceride levels and a reduced risk of atherosclerotic cardiovascular disease.

The Therapeutic Goods Administration approval was supported by clinical data from the Phase 3 PALISADE study, a randomized, double-blind, placebo-controlled trial in adults with clinically diagnosed or genetically confirmed FCS. The clinical study was conducted across 39 global sites, including 5 study locations in Australia. The PALISADE study met its primary endpoint and all multiplicity-controlled key secondary endpoints, including demonstrating significant reductions in triglycerides and apoC-III and in the incidence of acute pancreatitis in the pooled dose groups. In PALISADE, 25 mg REDEMPLO reduced triglycerides by a median of 80% from baseline versus a 17% reduction with placebo. Moreover, the odds of acute pancreatitis were 83% lower in the pooled dose groups (combined doses of 25 mg and 50 mg plozasiran) when compared with the placebo group (2 events in 2 subjects (4%) vs. 7 events in 5 subjects (20%), respectively). REDEMPLO is self-administered via subcutaneous injection once every three months.1,2

The Australian Product Information notes the most common adverse reaction is hyperglycaemia (12.8%). Other common adverse reactions include headache (6.8%), nausea (4.7%), and injection site reaction (4.7%).

“Patients with FCS face a substantial burden of disease and are at life-long risk of acute pancreatitis, with few effective treatment options available,” said Gerald F Watts, DSc, PhD, MD, FRCP, Professor of Cardio-metabolic Medicine, University of Western Australia. “The results from the PALISADE study demonstrate that plozasiran can achieve substantial and sustained reductions in triglycerides in patients with FCS. These data highlight the potential of targeted RNA interference approaches in addressing conditions like FCS that have so far been difficult to treat. Plozasiran is a major advance in the care of FCS and a significant step toward expanding treatment options for patients.”

The efficacy and safety results from the PALISADE study were presented at the European Society of Cardiology (ESC) Congress 2024 and the American Heart Association Scientific Sessions 2024 (AHA24) and simultaneously published in The New England Journal of Medicine and Circulation, respectively. ESC, AHA24, and other plozasiran presentations may be accessed on the Events and Presentations page in the Investors section of the Arrowhead website.

REDEMPLO was reviewed via the priority review pathway by Australia’s TGA and was granted Breakthrough Therapy Designation, Fast Track Designation, and Orphan Drug Designation by the U.S. FDA, as well as Orphan Medicinal Product Designation by the European Medicines Agency for the treatment of patients with FCS.

About FCS

Familial chylomicronemia syndrome (FCS) is a severe and rare disease leading to extremely high triglyceride (TG) levels, typically over 10 mmol/L (880 mg/dL). Such severe elevations can lead to various serious signs and symptoms including acute and potentially fatal pancreatitis, chronic abdominal pain, diabetes, hepatic steatosis, and cognitive issues. Currently, there are limited therapeutic options to adequately treat FCS.

About the PALISADE Phase 3 Study

The PALISADE study (NCT05089084) was a Phase 3 placebo-controlled study to evaluate the efficacy and safety of plozasiran in adults with genetically confirmed or clinically diagnosed FCS. The primary endpoint of the study was percent change from baseline in fasting TG versus placebo at Month 10. A total of 75 subjects distributed across 39 different sites in 18 countries were randomized to receive 25 mg plozasiran, 50 mg plozasiran, or matching placebo once every three months. Participants who completed the randomized period were eligible to continue in a 2-part extension period, where all participants receive plozasiran.

About REDEMPLO® (plozasiran)

REDEMPLO (plozasiran) is the first and only siRNA treatment approved in these countries that has been studied in both genetically confirmed and clinically diagnosed patients living with FCS. REDEMPLO is a first-in-class siRNA therapeutic designed to suppress the production of apoC-III, a protein produced in the liver that raises triglyceride levels by slowing their breakdown and clearance. By targeting apoC-III with sustained silencing, REDEMPLO delivers significant reductions in triglyceride levels. REDEMPLO is self-administered via subcutaneous injection once every three months.

The EMA CHMP has adopted a positive opinion recommending the European Marketing Authorization of REDEMPLO (plozasiran), which is already approved by the U.S. Food and Drug Administration, Health Canada, and China’s National Medical Products Administration as an adjunct to diet to reduce triglycerides for adults with Familial Chylomicronemia Syndrome (FCS).

Plozasiran is also being investigated in the SHASTA-3 (NCT06347003), SHASTA-4 (NCT06347016), and SHASTA-5 (NCT06880770) Phase 3 studies in adults with severe hypertriglyceridemia and the MUIR-3 (NCT06347133) Phase 3 study in adults with hypertriglyceridemia. In December 2025, plozasiran was granted Breakthrough Therapy designation by the U.S. FDA in severe hypertriglyceridemia.

About Arrowhead Pharmaceuticals

Arrowhead Pharmaceuticals (NASDAQ: ARWR) is a commercial-stage pharmaceutical company developing medicines that treat intractable diseases by silencing the genes that cause them, harnessing the natural RNA interference (RNAi) mechanism. The company has built a broad portfolio of clinical and commercial RNAi therapeutics through its industry-leading targeted RNAi molecule (TRiM™) platform, which can precisely silence genes in a wide range of cell types, including liver, lung, muscle, adipose, and central nervous system tissue. At Arrowhead, we rapidly advance potential best- and first-in-class RNAi treatments for diseases with significant unmet medical need, because every day matters to the patients we serve.

For more information, please visit arrowheadpharma.com, or follow us on X (formerly Twitter) at @ArrowheadPharma, LinkedIn, Facebook, and Instagram. To be added to the Company’s email list and receive news directly, please visit ir.arrowheadpharma.com/email-alerts.

Safe Harbor Statement under the Private Securities Litigation Reform Act:

This news release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Any statements contained in this release except for historical information may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, words such as “may,” “will,” “expect,” “believe,” “anticipate,” “hope,” “intend,” “plan,” “project,” “could,” “estimate,” “continue,” “target,” “forecast” or “continue” or the negative of these words or other variations thereof or comparable terminology are intended to identify such forward-looking statements. In addition, any statements that refer to projections of our future financial performance, trends in our business, expectations for our product pipeline, products or product candidate or other characterizations of future events or circumstances are forward-looking statements. These forward-looking statements include, but are not limited to, statements about our beliefs and expectations regarding the long-term impacts of REDEMPLO (plozasiran) on patient health and the health care system; our beliefs and expectations regarding the pricing, value, or expected timing for availability of our drugs and drug candidates; and our beliefs and expectations around the potential uses and value of the TRiM™ platform. These statements are based upon our current expectations and speak only as of the date hereof. Actual results or outcomes may differ materially and adversely from those expressed in any forward-looking statements as a result of numerous factors and uncertainties, including but not limited to the safety and efficacy of our products and product candidates, pricing and reimbursement decisions related to our products, demand for our products, decisions of regulatory authorities and the timing thereof, the duration and impact of regulatory delays in our clinical programs, our ability to finance our operations, the likelihood and timing of the receipt of future milestone and licensing fees, the future success of our scientific studies, the timing for starting and completing clinical trials, rapid technological change in our markets, the enforcement of our intellectual property rights, and the other risks and uncertainties described in our most recent Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q and other documents filed with the Securities and Exchange Commission from time to time. We assume no obligation to update or revise forward-looking statements to reflect new events or circumstances.

Source: Arrowhead Pharmaceuticals, Inc.

More News From Arrowhead Pharmaceuticals, Inc.

-

- Conference Call and Webcast Today, May 7, 2026, at 4:30 p.m. ET

PASADENA, Calif.--(BUSINESS WIRE)--Arrowhead Pharmaceuticals, Inc. (NASDAQ: ARWR) today announced financial results for its fiscal 2026 second quarter ended March 31, 2026. The Company is hosting a conference call today, May 7, 2026, at 4:30 p.m. ET to discuss the results.

Arrowhead continues to show strong execution in meeting and exceeding our commercial, R&D, and corporate goals.

Share “Arrowhead continues to show strong execution in meeting and exceeding our commercial, R&D, and corporate goals. The company is on extremely strong footing to continue to drive growth in the near-term with numerous opportunities to create long-term shareholder value,” said Christopher Anzalone, Ph.D., President and CEO at Arrowhead Pharmaceuticals. “We remain focused on a few key areas as being critical sources of sustainable growth for Arrowhead, and we have made tangible advancements across these areas. These include: strengthening our commercial presence to bring REDEMPLO® and potentially other cardiometabolic products in the future to the many patients and physicians who need it; continuing to deliver best-in-class in discovery, development, and regulatory capabilities in support of a deep pipeline of RNAi therapeutics capable of silencing genes expressed throughout the body to treat various diseases; and, being strategic and disciplined around pipeline, portfolio, and financial management.”

Key REDEMPLO® Commercial Events

Continued to build strong and consistent momentum since launching REDEMPLO (plozasiran) independently in the U.S. following its approval by the FDA on November 18, 2025, as an adjunct to diet to reduce triglycerides in adults with familial chylomicronemia syndrome (FCS). Key metrics include: Total prescriptions received and in process to date exceeds 400, representing greater than 40% growth over just the last four weeks alone; A total of approximately 180 patients to date have received at least one pre-filled syringe shipment; New weekly prescriptions are accelerating - currently averaging approximately 30 new written prescriptions per week; Approximately 85% of prescriptions were for patients naive to the APOC3 class — a strong signal that physicians are identifying and treating patients with FCS who have never had access to an effective therapy. Patients switching from other APOC3 targeted therapies largely account for the remainder; Updated the U.S. wholesale acquisition cost (WAC) of REDEMPLO to $45,000 per patient per year, representing a premium to the competing APOC3 inhibitor approved for FCS which the company believes is supported by its clinical evidence. This price reflects Arrowhead’s commitment to optimize market access for all patients with FCS. As part of the One-REDEMPLO unified pricing model, the new price is intended to remain consistent across FCS and severe hypertriglyceridemia (SHTG), if that indication is approved, which potentially simplifies payer contracting and eliminates pricing complexity that could complicate future formulary negotiations; Key R&D Events

Following U.S. FDA approval of REDEMPLO in 2025, secured positive regulatory action in four additional geographies for patients with genetically confirmed and clinically diagnosed FCS: The Australian Therapeutic Goods Administration (TGA) approved REDEMPLO (plozasiran), as an adjunct to diet to reduce triglyceride levels for adult patients with familial chylomicronaemia syndrome in Australia; Received positive CHMP opinion recommending approval of REDEMPLO (plozasiran) to reduce triglycerides in adults with familial chylomicronemia syndrome in Europe. The European Commission is expected to issue a decision on REDEMPLO’s Marketing Authorization in the second quarter of 2026; The Chinese National Medical Products Administration (NMPA) approved REDEMPLO (plozasiran) for the reduction of triglyceride levels in adult patients with familial chylomicronemia syndrome. REDEMPLO will be marketed in Greater China by Sanofi under an agreement between Sanofi and Arrowhead; Health Canada issued a Notice of Compliance (NOC) authorizing REDEMPLO (plozasiran) as an adjunct to diet to reduce triglycerides in adults with familial chylomicronemia syndrome for whom standard triglyceride lowering therapies have been inadequate. REDEMPLO is expected to be available later this year in Canada and the company anticipates it will be marketed independently by Arrowhead; Presented new long-term efficacy and safety data for plozasiran across a spectrum of hypertriglyceridemia at the American College of Cardiology’s 75th Annual Scientific Session and Expo. Key highlights include: Patients with severe hypertriglyceridemia achieved an 83% median reduction in triglycerides (TG), with 96% of patients achieving TG levels below 500 mg/dL, a threshold associated with increased risk of acute pancreatitis; No adjudicated acute pancreatitis events occurred in any patient receiving plozasiran during the two-year Phase 2b open-label expansion (OLE) study; Favorable and durable improvements in atherogenic lipoproteins, including remnant cholesterol, non-HDL cholesterol, and ApoB, were observed, with a safety profile consistent with earlier trials; Initiated and dosed the first subjects in a Phase 1/2a clinical trial of ARO-DIMER-PA, the company’s investigational RNA interference (RNAi) therapeutic being developed as a potential treatment for atherosclerotic cardiovascular disease (ASCVD) due to mixed hyperlipidemia: ARO-DIMER-PA is designed to silence expression of the proprotein convertase subtilisin kexin 9 (PCSK9) and apolipoprotein C3 (APOC3) genes. This represents an important step forward for the RNAi field as it is the first dual-functional clinical candidate to target two genes simultaneously in one molecule; Announced interim clinical data on our RNAi-based obesity candidates, ARO-INHBE and ARO-ALK7, showing weight loss in obese patients with diabetes and improved measures of body composition; In obese patients with type 2 diabetes mellitus, ARO-INHBE in combination with tirzepatide achieved -9.4% weight loss at week 16, representing an approximately two-fold improvement versus -4.8% on tirzepatide alone; ARO-INHBE drove robust fat reduction including -23.2% visceral fat, -15.4% total fat, and -76.7% liver fat reduction, representing an approximately three-fold improvement in all three measures versus tirzepatide alone in obese diabetic patients; ARO-ALK7 is the first RNAi-therapeutic to show knockdown in humans of an adipocyte expressed gene, achieving a mean reduction of -88% in ALK7 mRNA with a maximum reduction of -94%; ARO-ALK7 monotherapy achieved a reduction of -14.1% (single dose, week 8) in placebo adjusted visceral fat; Key Corporate Events

Announced, earlier this week, an exclusive worldwide license agreement with Madrigal Pharmaceuticals for ARO-PNPLA3, Arrowhead’s clinical stage RNAi therapeutic designed to reduce liver expression of patatin-like phospholipase domain containing 3 (PNPLA3) as a potential treatment for patients with metabolic dysfunction-associated steatohepatitis (MASH): Under the terms of the agreement, Madrigal will make a $25 million upfront payment to Arrowhead. Arrowhead is also eligible to receive development, regulatory, and sales milestone payments of up to $975 million. Arrowhead is further eligible to receive tiered royalties on commercial sales ranging from high-single digits to the mid-teens; In a Phase 1 single-ascending dose clinical study, ARO-PNPLA3 achieved encouraging results, including a dose-dependent mean reduction in liver fat of up to 40% in patients homozygous for the I148M mutation, no apparent treatment emergent increases in triglycerides or LDL-cholesterol, and a positive safety and tolerability profile at all doses studied; Meaningfully strengthened the balance sheet through two concurrent public offerings with gross proceeds totaling $930 million and consisting of: $700 million of 0.00% convertible senior notes with a 35% conversion premium (initial conversion price of approximately $87.08 per share of common stock) due 2032; $230 million through issuance of shares of common stock, at a public offering price of $64.50 per share (or, in lieu of shares of common stock to certain investors, pre-funded warrants); A capped call transaction to reduce dilution, with the cap price set at $119.33, representing a premium of approximately 85% over the public offering price of $64.50 per share in the common stock offering; Webcast and Conference Call and Details

Investors may access a live audio webcast on the Events and Presentations page under the Investors section of the Arrowhead website. A replay of the webcast will be available approximately two hours after the conclusion of the call.

For analysts that wish to participate in the conference call, please register at https://register-conf.media-server.com/register/BI94a3f6754bd3471e8e895704fb645ee5. Once registered, you will receive the dial-in number and a personalized PIN code that will be required to access the call.

Selected Fiscal 2026 Second Quarter Financial Results 

ARROWHEAD PHARMACEUTICALS, INC.

CONSOLIDATED CONDENSED FINANCIAL INFORMATION

(in thousands, except per share amounts)

  Three months Ended March 31,

OPERATING SUMMARY

2026

2025

Revenue

$

73,737

$

542,709

Operating Expenses:

Research and development

173,253

133,102

General and administrative expenses

41,744

28,405

Total operating expenses

214,997

161,507

Operating (loss) income

(141,260

)

381,202

Total other income (expense)

3,695

(11,586

)

(Loss) income before income tax expense and noncontrolling interest

(137,565

)

369,616

Income tax expense

7

1,753

Net (loss) income including noncontrolling interest

(137,572

)

367,863

Net loss attributable to noncontrolling interest, net of tax

(4,840

)

(2,582

)

Net (loss) income attributable to Arrowhead Pharmaceuticals, Inc.

(132,732

)

370,445

Net (loss) income per share attributable to Arrowhead Pharmaceuticals, Inc. - Diluted

$

(0.93

)

$

2.75

Weighted-average shares used in calculating - Diluted

142,417

134,484

  March 31,

September 30,

2026

2025

FINANCIAL POSITION SUMMARY

(unaudited)

Cash, cash equivalents and restricted cash

$

188,517

$

226,548

Available-for-sale securities, at fair value and short-term investments

1,595,574

692,818

Total cash resources (Cash, cash equivalents and restricted cash and Available-for-sale securities, at fair value and short-term investments)

1,784,091

919,366

Other current and long-term assets

484,174

465,929

Total Assets

$

2,268,265

$

1,385,295

Liability related to the sale of future royalties

$

383,829

$

367,397

Credit Facility

199,639

254,883

Deferred revenue

157,158

2,399

Convertible notes, net

681,940

-

Other liabilities

246,783

257,200

Total Liabilities

$

1,669,349

$

881,879

  Total Arrowhead Pharmaceuticals, Inc. Stockholders' Equity

613,977

466,052

Noncontrolling Interest

(15,061

)

37,364

Total Noncontrolling Interest and Stockholders' Equity

$

598,916

$

503,416

Total Liabilities, Noncontrolling Interest and Stockholders' Equity

$

2,268,265

$

1,385,295

  Shares Outstanding

140,571

135,702

About REDEMPLO® (plozasiran)

REDEMPLO (plozasiran) is approved by the U.S. Food and Drug Administration as an adjunct to diet to reduce triglycerides in adults with Familial Chylomicronemia Syndrome (FCS). REDEMPLO is an siRNA therapeutic designed to suppress the production of apoC-III, a protein produced in the liver that raises triglyceride levels by slowing their breakdown and clearance. By targeting apoC-III with sustained silencing, REDEMPLO delivers significant reductions in triglyceride levels. REDEMPLO is the first and only siRNA FDA-approved treatment studied in both genetically confirmed and clinically diagnosed patients living with FCS.

For more information about REDEMPLO, visit Our Medicines.

IMPORTANT SAFETY INFORMATION

CONTRAINDICATIONS

None.

ADVERSE REACTIONS

Most common adverse reactions in REDEMPLO treated patients (incidence ≥10% of patients treated with REDEMPLO and >5% more frequently than with placebo) are hyperglycemia, headache, nausea, and injection site reaction.

Please see full U.S. Prescribing Information for REDEMPLO®.

About Arrowhead Pharmaceuticals

Arrowhead Pharmaceuticals (NASDAQ: ARWR) is a commercial-stage pharmaceutical company developing medicines that treat intractable diseases by silencing the genes that cause them, harnessing the natural RNA interference (RNAi) mechanism. The company has built a broad portfolio of clinical and commercial RNAi therapeutics through its industry-leading targeted RNAi molecule (TRiM™) platform, which can precisely silence genes in a wide range of cell types, including liver, lung, muscle, adipose, and central nervous system tissue. At Arrowhead, we rapidly advance potential best- and first-in-class RNAi treatments for diseases with significant unmet medical need, because every day matters to the patients we serve.

For more information, please visit www.arrowheadpharma.com, or follow us on X (formerly Twitter) at @ArrowheadPharma, LinkedIn, Facebook, and Instagram. To be added to the Company's email list and receive news directly, please visit http://ir.arrowheadpharma.com/email-alerts.

Safe Harbor Statement under the Private Securities Litigation Reform Act:

This news release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Any statements contained in this release except for historical information may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, words such as “may,” “will,” “expect,” “believe,” “anticipate,” “hope,” “intend,” “plan,” “project,” “could,” “estimate,” “continue,” “target,” “forecast” or “continue” or the negative of these words or other variations thereof or comparable terminology are intended to identify such forward-looking statements. In addition, any statements that refer to projections of our future financial performance, trends in our business, expectations for our product pipeline, products or product candidate or other characterizations of future events or circumstances are forward-looking statements. These forward-looking statements include, but are not limited to, statements about our beliefs and expectations regarding the long-term impacts of REDEMPLO® (plozasiran) on patient health and the health care system; our beliefs and expectations regarding the pricing, value, or expected timing for availability of our drugs and drug candidates; and our believes and expectations around the potential uses and value of the TRiM™ platform. These statements are based upon our current expectations and speak only as of the date hereof. Actual results or outcomes may differ materially and adversely from those expressed in any forward-looking statements as a result of numerous factors and uncertainties the safety and efficacy of our products and product candidates, pricing and reimbursement decisions related to our products, demand for our products, decisions of regulatory authorities and the timing thereof, the duration and impact of regulatory delays in our clinical programs, our ability to finance our operations, the likelihood and timing of the receipt of future milestone and licensing fees, the future success of our scientific studies, the timing for starting and completing clinical trials, rapid technological change in our markets, the enforcement of our intellectual property rights, and the other risks and uncertainties described in our most recent Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q and other documents filed with the Securities and Exchange Commission from time to time. We assume no obligation to update or revise forward-looking statements to reflect new events or circumstances.

Source: Arrowhead Pharmaceuticals, Inc.

More News From Arrowhead Pharmaceuticals, Inc.

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Arrowhead Pharmaceuticals presents a compelling bull case with a strong pipeline and a new commercialization status thanks to REDEMPLO FDA approval. ARWR's cardiometabolic pipeline, including REDEMPLO's potential updating and ARO-DIMER-PA's dual-target RNAi, supports future growth and market reach. The CNS drug ARO-MAPT that targets tauopathies linked to diseases like Alzheimer's will produce Phase 1 data in 2H 2026. This could drive a positive valuation rerating for ARWR.

Arrowhead Pharmaceuticals, Inc. (ARWR) Presents at Bank of America Global Healthcare Conference 2026 Transcript

[url="]Arrowhead Pharmaceuticals, Inc.[/url] (NASDAQ: ARWR) today presented new positive clinical data for plozasiran supporting its use in patients with moder

-

- Targeting Activin E may represent a novel therapeutic strategy for metabolic dysfunction-associated steatohepatitis (MASH) and obesity‑related metabolic dysfunction

- ARO-INHBE produced meaningful reductions in liver fat content as a monotherapy or in combination with low-dose tirzepatide in individuals with obesity with or without Type 2 Diabetes Mellitus (T2DM)

- Longer exposure to ARO-INHBE silencing resulted in continued improvements in visceral fat and liver fat from Week 12 to Week 24

PASADENA, Calif.--(BUSINESS WIRE)--Arrowhead Pharmaceuticals, Inc. (NASDAQ: ARWR) today presented interim results from a Phase 1/2a clinical trial of ARO-INHBE, the company’s investigational RNA interference (RNAi) therapeutic being developed as a potential treatment for obesity and metabolic dysfunction-associated steatohepatitis (MASH). The data presented at the European Association for the Study of the Liver Congress (EASL 2026) demonstrate that ARO-INHBE treatment led to clinically meaningful reductions in liver fat as a monotherapy and in combination with low-dose tirzepatide, a GLP-1/GIP receptor co-agonist, in adults with obesity. Arrowhead is currently engaging with regulatory authorities on additional designs and endpoints for potential Phase 2 studies in MASH and obesity.

We believe that targeting the Activin E/ALK7 pathway, a genetically validated pathway that regulates adipose fat storage, is a promising strategy to address MASH and obesity‑related metabolic dysfunction.

Share “Building on prior interim results from a Phase 1/2a study of ARO-INHBE, which showed encouraging signals on weight loss and improved measures of body composition in obese patients with diabetes, today we presented additional results at the EASL 2026 congress. These data provide encouraging signals on the safety, activity, and efficacy of ARO-INHBE, particularly with respect to liver fat reductions as a monotherapy or in combination with low-dose tirzepatide in patients with or without Type 2 Diabetes Mellitus,” said James Hamilton, M.D., MBA, Chief Medical Officer and Head of R&D at Arrowhead. “We believe that targeting the Activin E/ALK7 pathway, a genetically validated pathway that regulates adipose fat storage, is a promising strategy to address MASH and obesity‑related metabolic dysfunction and may complement existing incretin-based approaches in the treatment of obesity.”

The EASL 2026 poster may be accessed on the Events and Presentations page on the Investors section of the Arrowhead website.

Select ARO-INHBE Phase 1/2a Results

In participants with obesity, dose-dependent reductions in Activin E were observed following a single administration of ARO-INHBE, with a mean maximum reduction of 85.3% achieved with ARO-INHBE 400 mg and persistent effect beyond 3 months Similar Activin E reductions were observed in participants with obesity and T2DM receiving two doses of ARO-INHBE (200 mg or 400 mg) in combination with tirzepatide 5 mg, demonstrating persistent effect through Week 24 with the potential for infrequent twice per year dose administration Participants with obesity and baseline liver fat content (LFC) greater than 8% receiving 200mg or greater of ARO-INHBE monotherapy (n=10; baseline LFC 14.5±5.1%) had a placebo-adjusted post-dose LFC reduction of 44% (t-test: p < 0.01) ARO-INHBE in combination with low-dose tirzepatide (5 mg) resulted in enhanced reductions in visceral adipose tissue and LFC compared to tirzepatide alone in participants with obesity with or without T2DM Longer exposure to ARO-INHBE resulted in continued improvements in visceral fat and LFC from Week 12 to Week 24 Safety and Tolerability

ARO-INHBE has been generally well tolerated to date as a monotherapy and in combination with tirzepatide in participants with obesity with and without type 2 diabetes. Most treatment emergent adverse events (TEAE) were mild in severity. No TEAEs led to study or study drug discontinuation. Injection site reactions were generally mild and self-limited.

About ARO-INHBE

ARO-INHBE is designed to reduce the hepatic expression of the INHBE gene and its secreted gene product, Activin E. INHBE is a promising genetically validated target in which loss-of-function INHBE variants in humans are associated with improved fat distribution and lower risk of metabolic diseases, such as type 2 diabetes. Activin E acts as a ligand in a pathway that regulates energy homeostasis in adipose tissue. Inhibiting this pathway with investigational ARO-INHBE treatment has the potential to increase lipolysis, and reduce adipose hypertrophy and dysfunction, visceral adiposity, and insulin resistance.

About the AROINHBE-1001 Phase 1/2 Study

AROINHBE-1001 (NCT06700538) is a Phase 1/2a dose-escalating study to evaluate the safety, tolerability, pharmacokinetics, and pharmacodynamics of ARO-INHBE in up to 78 adult volunteers with obesity. Part 1 of the study is designed to assess single and multiple doses of ARO-INHBE monotherapy, and Part 2 of the study is designed to assess ARO-INHBE in combination with tirzepatide, a subcutaneously administered GLP-1/GIP receptor co-agonist that has been approved in the United States and the European Union for management of type 2 diabetes mellitus since 2022 and weight management since 2023/2024 respectively.

About Arrowhead Pharmaceuticals

Arrowhead Pharmaceuticals (NASDAQ: ARWR) is a commercial-stage pharmaceutical company developing medicines that treat intractable diseases by silencing the genes that cause them, harnessing the natural RNA interference (RNAi) mechanism. The company has built a broad portfolio of clinical and commercial RNAi therapeutics through its industry-leading targeted RNAi molecule (TRiM™) platform, which can precisely silence genes in a wide range of cell types, including liver, lung, muscle, adipose, and central nervous system tissue. At Arrowhead, we rapidly advance potential best- and first-in-class RNAi treatments for diseases with significant unmet medical need, because every day matters to the patients we serve.

For more information, please visit www.arrowheadpharma.com, or follow us on X (formerly Twitter) at @ArrowheadPharma, LinkedIn, Facebook, and Instagram. To be added to the Company's email list and receive news directly, please visit http://ir.arrowheadpharma.com/email-alerts.

Safe Harbor Statement under the Private Securities Litigation Reform Act:

This news release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Any statements contained in this release except for historical information may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, words such as “may,” “will,” “expect,” “believe,” “anticipate,” “hope,” “intend,” “plan,” “project,” “could,” “estimate,” “continue,” “target,” “forecast” or “continue” or the negative of these words or other variations thereof or comparable terminology are intended to identify such forward-looking statements. In addition, any statements that refer to projections of our future financial performance, trends in our business, expectations for our product pipeline, products or product candidate or other characterizations of future events or circumstances are forward-looking statements. These statements are based upon our current expectations and speak only as of the date hereof. Actual results or outcomes may differ materially and adversely from those expressed in any forward-looking statements as a result of numerous factors and uncertainties the safety and efficacy of our products and product candidates, pricing and reimbursement decisions related to our products, demand for our products, decisions of regulatory authorities and the timing thereof, the duration and impact of regulatory delays in our clinical programs, our ability to finance our operations, the likelihood and timing of the receipt of future milestone and licensing fees, the future success of our scientific studies, the timing for starting and completing clinical trials, rapid technological change in our markets, the enforcement of our intellectual property rights, and the other risks and uncertainties described in our most recent Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q and other documents filed with the Securities and Exchange Commission from time to time. We assume no obligation to update or revise forward-looking statements to reflect new events or circumstances.

Source: Arrowhead Pharmaceuticals, Inc.

More News From Arrowhead Pharmaceuticals, Inc.

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PASADENA, Calif.--(BUSINESS WIRE)--Arrowhead Pharmaceuticals, Inc. (NASDAQ: ARWR) today announced that it is scheduled to participate in the following upcoming events:

2026 Jefferies Global Healthcare Conference – June 2-4, 2026

Type: Fireside Chat Presentation
Date/Time: June 3, 2026, 8:10 am EDT

Goldman Sachs 47th Annual Global Healthcare Conference – June 8-10, 2026

Type: Fireside Chat Presentation
Date/Time: June 10, 2026, 9:00 am EDT

Presentation materials and webcast links, if applicable, may be accessed on the Events and Presentations page under the Investors section of the Arrowhead website.

About Arrowhead Pharmaceuticals

Arrowhead Pharmaceuticals (NASDAQ: ARWR) is a commercial-stage pharmaceutical company developing medicines that treat intractable diseases by silencing the genes that cause them, harnessing the natural RNA interference (RNAi) mechanism. The company has built a broad portfolio of clinical and commercial RNAi therapeutics through its industry-leading targeted RNAi molecule (TRiM™) platform, which can precisely silence genes in a wide range of cell types, including liver, lung, muscle, adipose, and central nervous system tissue. At Arrowhead, we rapidly advance potential best- and first-in-class RNAi treatments for diseases with significant unmet medical need, because every day matters to the patients we serve.

For more information, please visit arrowheadpharma.com, or follow us on X (formerly Twitter) at @ArrowheadPharma, LinkedIn, Facebook, and Instagram. To be added to the Company’s email list and receive news directly, please visit ir.arrowheadpharma.com/email-alerts.

Safe Harbor Statement under the Private Securities Litigation Reform Act:

This news release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Any statements contained in this release except for historical information may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, words such as “may,” “will,” “expect,” “believe,” “anticipate,” “hope,” “intend,” “plan,” “project,” “could,” “estimate,” “continue,” “target,” “forecast” or “continue” or the negative of these words or other variations thereof or comparable terminology are intended to identify such forward-looking statements. In addition, any statements that refer to projections of our future financial performance, trends in our business, expectations for our product pipeline or product candidates, including anticipated regulatory submissions and clinical program results, prospects or benefits of our collaborations with other companies, or other characterizations of future events or circumstances are forward-looking statements. These forward-looking statements include, but are not limited to, statements about the initiation, timing, progress and results of our preclinical studies and clinical trials, and our research and development programs; our expectations regarding the potential benefits of the partnership, licensing and/or collaboration arrangements and other strategic arrangements and transactions we have entered into or may enter into in the future; our beliefs and expectations regarding milestone, royalty or other payments that could be due to or from third parties under existing agreements; and our estimates regarding future revenues, research and development expenses, capital requirements and payments to third parties. These statements are based upon our current expectations and speak only as of the date hereof. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of numerous factors and uncertainties, including the safety and efficacy of our product candidates, decisions of regulatory authorities and the timing thereof, the duration and impact of regulatory delays in our clinical programs, our ability to finance our operations, the likelihood and timing of the receipt of future milestone and licensing fees, the future success of our scientific studies, our ability to successfully develop and commercialize drug candidates, the timing for starting and completing clinical trials, rapid technological change in our markets, the enforcement of our intellectual property rights, and the other risks and uncertainties described in our most recent Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q and other documents filed with the Securities and Exchange Commission from time to time. We assume no obligation to update or revise forward-looking statements to reflect new events or circumstances.

Source: Arrowhead Pharmaceuticals, Inc.

More News From Arrowhead Pharmaceuticals, Inc.

Want Diversified Upside in Biotechnology? Check out LABUArrowhead Pharmaceuticals NASDAQ: ARWR executives outlined upcoming clinical catalysts, early commercial trends and pipeline priorities during a Jefferies fireside chat, with Chief Medical Officer James Hamilton emphasizing that the company remains focused exclusively on siRNA therapeutics through its TRiM, or Targeted RNAi Molecule, platform.

Hamilton said Arrowhead has advanced 20 clinical candidates into various stages of development. Partnered programs include olpasiran with Amgen, fazirsiran with Takeda, hepatitis B and MASH programs with GSK, a broad discovery collaboration with Sarepta and a recently announced discovery collaboration with Novartis. On the wholly owned side, Hamilton highlighted REDEMPLO, which was recently approved for familial chylomicronemia syndrome, as well as plozasiran in severe hypertriglyceridemia, zodasiran in homozygous familial hypercholesterolemia, obesity candidates ARO-ALK7 and ARO-INHBE, and ARO-MAPT for tau-related neurological diseases.

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SHASTA Data Remain on Track for Third Quarter Hamilton said the company remains on schedule to report topline data in the third quarter from SHASTA-3 and SHASTA-4, pivotal studies of plozasiran in severe hypertriglyceridemia. He said the final patients are expected to complete visits “over the next month or so,” but Arrowhead is not narrowing its guidance to a specific month because late acute pancreatitis events or serious adverse events could still require adjudication.

On the acute pancreatitis endpoint, Hamilton said Arrowhead remains “cautiously optimistic” while blinded to the data. He said the company has previously indicated that roughly nine or more acute pancreatitis events, with event rates similar to those seen in CORE and CORE2 studies, would provide around 80% power. He added that events have not appeared “wildly out of our range of expectations,” but said the outcome will not be known until the third-quarter readout.

Hamilton said Arrowhead does not plan changes to its statistical analysis plan and has long planned to pool acute pancreatitis data from SHASTA-3 and SHASTA-4. He also said baseline triglyceride values across the combined studies are about 860, compared with about 600 in the SHASTA-2 study, where the company saw approximately a 70% triglyceride reduction. He said a 10% decline in the placebo group “wouldn’t surprise” him, reflecting diet adherence and potential reversion to the mean.

Safety, Liver Fat and Competitive Context Asked about Ionis’ olezarsen, Hamilton said he expects approval and said acute pancreatitis may be included in the label, though he said it is unclear where such information would appear. He described the CORE and CORE2 data as “really good and really convincing,” particularly on acute pancreatitis.

Hamilton also discussed safety differences between Arrowhead’s siRNA approach and antisense oligonucleotide, or ASO, therapies. He said Arrowhead is not seeing hypersensitivity reactions or thrombocytopenia, which he characterized as more consistent with ASO class effects. On liver fat, Hamilton said Arrowhead did not observe an increase at the 25-milligram dose in SHASTA-2, which he described as the go-to-market dose, though a 2% absolute increase from baseline was seen at a 50-milligram dose the company is no longer using. He said Arrowhead should provide an update on liver fat when it reports severe hypertriglyceridemia data.

REDEMPLO Launch and Pricing Daniel Apel, Arrowhead’s chief financial officer, said the REDEMPLO launch in familial chylomicronemia syndrome is trending better than Ionis’ launch at a similar time point when normalized for price and viewed on a unit basis, though he cautioned against overemphasizing early numbers in an ultra-rare indication. He said there was some pent-up demand from expanded access program switches and some patients switching from TRYNGOLZA, but most demand has been new to class.

Apel said Arrowhead expects continued largely linear growth, primarily from patients naive to the APOC3 class, with some contribution from switchers. He cited REDEMPLO’s three-month dosing schedule, potency and lack of warnings, precautions or contraindications as factors the company believes will support physician choice.

On pricing, Apel said payer feedback has been positive after Arrowhead reduced REDEMPLO’s wholesale acquisition cost to $45,000 from $60,000. He said the move maintained a premium position while keeping the therapy within a range that payers view as cost comparable, and said payer discussions are proceeding well and aligned with the approved label.

Obesity, MASH and CNS Programs Hamilton said recent EASL data for ARO-INHBE showed about a 40% reduction in liver fat from baseline in patients with hepatic steatosis, supporting a potential monotherapy pathway in MASH. He said Arrowhead is also evaluating ARO-INHBE with GLP-1 therapy, especially in diabetics, where it has seen additional weight loss versus GLP-1 alone.

Hamilton said ARO-ALK7 and ARO-INHBE studies are fully enrolled with about 240 total patients across monotherapy and tirzepatide combination cohorts. Additional ARO-INHBE cohorts include higher-dose monotherapy in Type 2 diabetics and combinations with 5 mg and 15 mg tirzepatide. He said Arrowhead plans more ARO-ALK7 data in the second half, focusing on body composition, weight loss, visceral fat and lean mass.

For ARO-MAPT, Hamilton said later-year data will focus on safety and tau knockdown in healthy volunteers, with patient data likely next year. He said Arrowhead would like to see total tau knockdown in cerebrospinal fluid comparable to the 50% to 60% reported by Ionis in Alzheimer’s patients, and said successful subcutaneous CNS knockdown would be important for the broader platform.

Additional Catalysts Hamilton said Arrowhead plans to report third-quarter data from its APOC3-PCSK9 dimer program in patients with mixed hyperlipidemia. He said initial success would include total ApoB reductions of about 40% or better, with the company ultimately aiming to move toward outcomes testing after establishing long-term safety and dose.

Apel said Arrowhead is not planning to out-license additional programs or disclose new business development activity. He listed upcoming catalysts including SHASTA-3 and SHASTA-4 data, dimer data, ARO-MAPT cerebrospinal fluid data, additional obesity data and potential full enrollment of the zodasiran program later this year. No specific cash runway update was provided in the discussion.

About Arrowhead Pharmaceuticals NASDAQ: ARWRArrowhead Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics. Since its founding in 2008, Arrowhead has leveraged its proprietary delivery platform—known internally as the Advanced RNAi Compound (ARC) technology—to silence disease-causing genes in patients suffering from genetically defined diseases. The company's approach aims to offer durable, targeted treatments across a range of therapeutic areas.

The company's pipeline includes multiple candidates in various stages of development.

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

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Innospec is positioned as a likely beneficiary of energy shortages and rising oil prices, supplying vital chemicals for oil extraction and refining. IOSP trades at a 50% discount to sector P/E and EV/EBITDA multiples, despite a debt-free balance sheet and strong free cash flow generation. Operational catalysts include potential recovery in oilfield services, resolution of the Mexico crisis, and increased demand from geopolitical disruptions.

Posted by Defense World Staff on Mar 31st, 2026

Allspring Global Investments Holdings LLC decreased its stake in shares of Innospec Inc. (NASDAQ:IOSP – Free Report) by 1.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,356,503 shares of the specialty chemicals company’s stock after selling 35,246 shares during the quarter. Allspring Global Investments Holdings LLC owned about 9.51% of Innospec worth $179,754,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Wedge Capital Management L L P NC lifted its position in shares of Innospec by 20.5% during the 4th quarter. Wedge Capital Management L L P NC now owns 19,699 shares of the specialty chemicals company’s stock valued at $1,508,000 after acquiring an additional 3,354 shares during the period. SG Americas Securities LLC increased its stake in Innospec by 291.0% in the fourth quarter. SG Americas Securities LLC now owns 75,814 shares of the specialty chemicals company’s stock valued at $5,803,000 after purchasing an additional 56,425 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Innospec by 37.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 178,204 shares of the specialty chemicals company’s stock valued at $13,640,000 after purchasing an additional 48,807 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Innospec by 25.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 9,223 shares of the specialty chemicals company’s stock valued at $725,000 after purchasing an additional 1,892 shares during the period. Finally, Allworth Financial LP boosted its position in shares of Innospec by 31.0% during the 3rd quarter. Allworth Financial LP now owns 588 shares of the specialty chemicals company’s stock worth $45,000 after purchasing an additional 139 shares in the last quarter. Institutional investors own 96.64% of the company’s stock.

Insiders Place Their Bets In other Innospec news, Director Larry Padfield sold 594 shares of the business’s stock in a transaction on Friday, February 27th. The stock was sold at an average price of $76.56, for a total value of $45,476.64. Following the transaction, the director owned 9,453 shares of the company’s stock, valued at approximately $723,721.68. The trade was a 5.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP David B. Jones sold 1,028 shares of the company’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $75.64, for a total value of $77,757.92. Following the completion of the transaction, the senior vice president owned 14,693 shares of the company’s stock, valued at $1,111,378.52. This trade represents a 6.54% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 4,989 shares of company stock valued at $391,889. 1.31% of the stock is owned by insiders.

Innospec Stock Performance Shares of IOSP stock opened at $73.19 on Tuesday. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 1.90 and a beta of 0.90. Innospec Inc. has a 52-week low of $65.51 and a 52-week high of $96.38. The company has a 50-day simple moving average of $77.77 and a two-hundred day simple moving average of $77.03.

Innospec (NASDAQ:IOSP – Get Free Report) last announced its earnings results on Tuesday, February 17th. The specialty chemicals company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.24. The firm had revenue of $455.60 million for the quarter, compared to the consensus estimate of $460.87 million. Innospec had a return on equity of 10.18% and a net margin of 6.56%.The company’s revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.41 EPS. On average, sell-side analysts forecast that Innospec Inc. will post 6.18 EPS for the current fiscal year.

Analysts Set New Price Targets Several analysts have recently commented on the company. Zacks Research downgraded Innospec from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 19th. Wall Street Zen upgraded Innospec from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Finally, Weiss Ratings raised Innospec from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, February 19th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce”.

View Our Latest Stock Report on Innospec

About Innospec (Free Report)

Innospec Incorporated (NASDAQ: IOSP) is a global specialty chemicals company headquartered in Cleveland, Ohio. The company operates through three principal business segments: Fuel Specialties, Oilfield Services, and Performance Chemicals. In the Fuel Specialties segment, Innospec develops and supplies additives designed to enhance octane levels, improve combustion efficiency, reduce emissions and prevent deposit formation in gasoline and diesel engines. Its Oilfield Services division provides chemical technologies—such as surfactants, corrosion inhibitors and demulsifiers—to support exploration, drilling, production optimization and enhanced oil recovery operations.

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Investors in Innospec Inc. (IOSP - Free Report) need to pay close attention to the stock based on moves in the options market lately. That is because the Jun 18, 2026 $80 Call had some of the highest implied volatility of all equity options today.

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What do the Analysts Think?Clearly, options traders are pricing in a big move for Innospec shares, but what is the fundamental picture for the company? Currently, Innospec is a Zacks Rank #4 (Sell) in the Chemical - Diversified industry that ranks in the Bottom 34% of our Zacks Industry Rank. Over the last 30 days, no analysts have increased their earnings estimates for the current quarter, while one analyst has revised the estimate downward. The net effect has taken our Zacks Consensus Estimate for the current quarter from $1.04 per share to $1.02 in that period.

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Published in basic-materials

Continued strength in Fuel Specialties offset negative US winter storm impacts in other businesses

Increasing confidence for sequential operating income and margin growth in Performance Chemicals and Oilfield Services

Dividend increased by 10 percent; $6.2 million in share repurchases made in the quarter

New $75 million buyback authorization

GAAP EPS of $1.22 and adjusted non-GAAP EPS of $1.05

ENGLEWOOD, Colo., May 07, 2026 (GLOBE NEWSWIRE) -- Innospec Inc. (NASDAQ: IOSP) today announced its financial results for the first quarter ended March 31, 2026.   The Company declared its semi-annual dividend of 92 cents per common share for the first half of this year, representing an increase of 10 percent. This dividend will be paid on May 29, 2026 to shareholders of record on May 19, 2026.

Total revenues for the first quarter were $453.2 million, an increase of 3 percent from $440.8 million in the corresponding period last year. Net income attributable to Innospec for the quarter was $30.4 million or $1.22 per diluted share compared to $32.8 million or $1.31 per diluted share recorded in the corresponding period last year. Adjusted EBITDA for the quarter was $43.7 million compared to $54.0 million reported in the same period a year ago.

Results for this quarter include some special items, which are summarized in the table below. Excluding these items, adjusted non-GAAP EPS in the first quarter was $1.05 per diluted share, compared to $1.42 per diluted share a year ago.

Cash from operating activities was $17.6 million before capital expenditures of $8.6 million. The quarter closed with net cash of $289.1 million.

Adjusted EBITDA and net income attributable to Innospec excluding special items, and related per-share amounts, together with net cash, are non-GAAP financial measures that are defined and reconciled with GAAP results herein and in the schedules below.

  Quarter ended March 31, 2026Quarter ended March 31, 2025          (in millions, except share and per share data) Net income attributable to Innospec Diluted EPS Net income attributable to Innospec Diluted EPS           Reported GAAP amounts$30.4$1.22$32.8$1.31           Adjustment to fair value of contingent consideration (4.7) (0.19) 0.7 0.03 Foreign currency exchange gains (1.9) (0.08) (0.3) (0.01) Legacy costs of closed operations 1.7 0.07 0.6 0.02 Amortization of acquired intangible assets 0.8 0.03 1.7 0.07   (4.1) (0.17) 2.7 0.11           Adjusted non-GAAP amounts$26.3$1.05$35.5$1.42            Commenting on the first quarter results, Patrick S. Williams, President and Chief Executive Officer, said,

“This was a mixed quarter for Innospec with continued strong results in Fuel Specialties partially offsetting the negative impacts of the January 2026 US winter storm on Performance Chemicals and Oilfield Services.

Performance Chemicals sales were broadly flat with last year, but margins and operating income were significantly impacted by a shutdown of the North Carolina plants due to the US winter storm. We are prioritizing plant repairs in order to meet customer requirements. In parallel, we continue to execute on a range of other topline and margin opportunities identified in the business. We expect these combined efforts to drive sequential growth in the second quarter.

Fuel Specialties had another strong quarter with sales growth and margins that remained at the upper end of our target range. As expected, the business has continued to deliver consistently strong results as our team advances on a broad set of regional and end-market opportunities in traditional fuel, renewable fuel and non-fuel applications.

Oilfield Services operating income and margins improved on the prior year, but overall performance was negatively impacted by the US winter storm. While the Middle East conflict may delay the planned expansion in the region, we remain focused on driving incremental growth from our recent DRA expansion and other opportunities in our completions and production segments. We are cautiously optimistic that these efforts will drive sequential improvement in the second quarter and leave us well positioned for further improvement in the second half of 2026.”

Revenues in Performance Chemicals of $169.4 million were up 1 percent over the first quarter of last year as volume reductions of 9 percent were offset by a positive price/mix of 1 percent and favorable currency impact of 9 percent.   Gross margins of 16.8 percent decreased by 4.2 percentage points from the same quarter last year. Operating income of $10.7 million decreased 46 percent from $19.8 million in the corresponding prior year period.

Revenues in Fuel Specialties of $181.6 million were up 7 percent from $170.3 million in the first quarter of last year with volume growth of 10 percent and a positive currency impact of 6 percent offsetting a negative price/mix of 9 percent. Gross margins of 35.4 percent decreased by 0.3 percentage points over last year. Operating income of $37.8 million was up 2 percent from $36.9 million a year ago.  

Revenues in Oilfield Services of $102.2 million for the quarter were consistent compared with the first quarter of last year. Gross margins of 30.1 percent increased by 1.7 percentage points from the same quarter last year on a richer sales mix.   Operating income of $5.6 million increased 37 percent from $4.1 million in the prior year period.

Corporate costs for the quarter were $22.3 million, compared with $17.7 million a year ago. The effective tax rate for the quarter was 22.8 percent compared to 25.7 percent in the same period last year.

For the quarter, net cash provided by operating activities was $17.6 million compared to $28.3 million a year ago. As of March 31, 2026, Innospec had $289.1 million in cash and cash equivalents and no debt.

Mr. Williams concluded,

“While the Middle East conflict is creating significant market uncertainty, we are seeing increased opportunities to deliver stand-out service and security of supply for all our customers. Our teams remain focused on elements within our control as we have in prior similar cycles. In parallel, margin enhancement, new technology commercialization and other opportunities remain the priority across our businesses, and we are optimistic about the impact that these actions will have on future results.

Operating cash generation was again positive in the quarter, and our net cash position closed at over $289 million. We have significant balance sheet flexibility for dividend growth, buybacks, organic investment and M&A. This quarter our Board approved a further 10 percent increase in our semi-annual dividend to 92 cents per share, and we completed $6.2 million in share repurchases. Additionally, the Board approved a new $75 million buyback authorization to further enhance shareholder return flexibility.”  

Use of Non-GAAP Financial Measures

The information presented in this press release includes financial measures that are not calculated or presented in accordance with Generally Accepted Accounting Principles in the United States (GAAP). These non-GAAP financial measures comprise adjusted EBITDA, net income attributable to Innospec excluding special items and related per share amounts together with net cash. Adjusted EBITDA is net income attributable to Innospec per our consolidated financial statements adjusted for the exclusion of interest income, net, income taxes, depreciation and amortization, foreign currency exchange gains, legacy costs of closed operations and adjustment to fair value of contingent consideration. Net income attributable to Innospec and diluted EPS, excluding special items, per our consolidated financial statements are adjusted for the exclusion of adjustment to fair value of contingent consideration, foreign currency exchange gains, legacy costs of closed operations and amortization of acquired intangible assets. Net cash is cash and cash equivalents less total debt. Reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures are provided herein and in the schedules below.

The Company believes that such non-GAAP financial measures provide useful information to investors and may assist them in evaluating the Company’s underlying performance and identifying operating trends. In addition, these non-GAAP measures address questions the Company routinely receives from analysts and investors and the Company has determined that it is appropriate to make this data available to all investors. While the Company believes that such measures are useful in evaluating the Company’s performance, investors should not consider them to be a substitute for financial measures prepared in accordance with GAAP. In addition, these non-GAAP financial measures may differ from similarly titled non-GAAP financial measures used by other companies and do not provide a comparable view of the Company’s performance relative to other companies in similar industries. Management uses adjusted EPS (the most directly comparable GAAP financial measure for which is GAAP EPS) and net income attributable to Innospec excluding special items and adjusted EBITDA (the most directly comparable GAAP financial measure for which is GAAP net income attributable to Innospec) to allocate resources and evaluate the performance of the Company’s operations and has provided a reconciliation of adjusted EBITDA and net income attributable to Innospec excluding special items, and related per share amounts, to GAAP net income attributable to Innospec herein and in the schedules below.

About Innospec Inc.

Innospec Inc. is an international specialty chemicals company with approximately 2,450 employees in 22 countries. Innospec manufactures and supplies a wide range of specialty chemicals to markets in the Americas, Europe, the Middle East, Africa and Asia-Pacific.  The Performance Chemicals business creates innovative technology-based solutions for our customers in the Personal Care, Home Care, Agrochemical, Mining and Industrial markets. The Fuel Specialties business specializes in manufacturing and supplying fuel additives that improve fuel efficiency, boost engine performance and reduce harmful emissions. Oilfield Services provides specialty chemicals to all elements of the oil and gas exploration and production industry. 

Forward-Looking Statements

This press release contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995.  All statements other than statements of historical facts included or incorporated herein may constitute forward-looking statements.  Such forward-looking statements include statements (covered by words like “expects,” “estimates,” “anticipates,” “may,” “could,” “believes,” “feels,” “plans,” “intends,” “outlook” or similar words or expressions, for example) which relate to earnings, growth potential, operating performance, events or developments that we expect or anticipate will or may occur in the future.  Although forward-looking statements are believed by management to be reasonable when made, they are subject to certain risks, uncertainties and assumptions, and our actual performance or results may differ materially from these forward-looking statements.  Additional information regarding risks, uncertainties and assumptions relating to Innospec and affecting our business operations and prospects are described in Innospec’s Annual Report on Form 10-K for the year ended December 31, 2025 and other reports filed with the U.S. Securities and Exchange Commission.  You are urged to review our discussion of risks and uncertainties that could cause actual results to differ from forward-looking statements under the heading "Risk Factors” in such reports. Innospec undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contacts:

Corbin Barnes
Innospec Inc.
+1-303-792-5554
[email protected]

INNOSPEC INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
 Schedule 1    Three Months Ended   March 31(in millions, except share and per share data)  2026 2025      Net sales $453.2$440.8Cost of goods sold  (329.7) (315.7)Gross profit  123.5 125.1      Operating expenses:     Selling, general and administrative  (78.5) (69.3)Research and development  (13.2) (12.7)Adjustment to fair value of contingent consideration  4.7 (0.7)Profit on disposal of property, plant and equipment  - 0.1Total operating expenses  (87.0) (82.6)Operating income  36.5 42.5Other income, net  2.6 0.3Interest income, net  0.8 2.4Income before income taxes  39.9 45.2Income taxes  (9.1) (11.6)Net income  30.8 33.6Net income attributable to non-controlling interests  (0.4) (0.8)Net income attributable to Innospec $30.4$32.8      Earnings per share:     Basic $1.23$1.31Diluted $1.22$1.31      Weighted average shares outstanding (in thousands):     Basic  24,776 24,970Diluted  24,844 25,102       INNOSPEC INC. AND SUBSIDIARIES
Schedule 2A
 SEGMENTAL ANALYSIS OF RESULTS  Three Months Ended   March 31(in millions)  2026 2025      Net sales:     Performance Chemicals $169.4$168.4Fuel Specialties  181.6 170.3Oilfield Services  102.2 102.1   453.2 440.8      Gross profit:     Performance Chemicals  28.4 35.3Fuel Specialties  64.3 60.8Oilfield Services  30.8 29.0   123.5 125.1      Operating income:     Performance Chemicals  10.7 19.8Fuel Specialties  37.8 36.9Oilfield Services  5.6 4.1Corporate costs  (22.3) (17.7)   31.8 43.1Adjustment to fair value of contingent consideration  4.7 (0.7)Profit on disposal of property, plant and equipment  - 0.1Total operating income $36.5$42.5       Schedule 2B NON-GAAP MEASURES  Three Months Ended March 31(in millions)  2026 2025      Net income attributable to Innospec $30.4$32.8Interest income, net  (0.8) (2.4)Income taxes  9.1 11.6Depreciation and amortization  9.9 10.9Foreign currency exchange gains  (2.5) (0.4)Legacy costs of closed operations  2.3 0.8Adjustment to fair value of contingent consideration  (4.7) 0.7Adjusted EBITDA $43.7$54.0       Schedule 3INNOSPEC INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
 (in millions)

  March 31,
2026 December 31,
2025Assets         Current assets:     Cash and cash equivalents $289.1$292.5Trade and other accounts receivable  354.2 342.3Inventories  321.5 329.3Prepaid expenses  16.9 20.1Prepaid income taxes  10.6 13.1Other current assets  6.8 7.3Total current assets  999.1 1,004.6      Net property, plant and equipment  285.7 286.1Operating lease right-of-use assets  50.6 52.7Goodwill  399.1 399.0Other intangible assets  68.9 67.7Deferred tax assets  13.0 13.6Other non-current assets  3.4 8.7Total assets $1,819.8$1,832.4Liabilities and Stockholders’ Equity           Current liabilities:     Accounts payable $138.5$174.7Accrued liabilities  169.3 152.3Current portion of operating lease liabilities  15.1 15.9Current portion of plant closure provisions  4.9 4.9Current portion of acquisition-related contingent consideration  2.7 7.0Accrued income taxes  4.3 5.3Total current liabilities  334.8 360.1      Operating lease liabilities, net of current portion  35.5 36.8Plant closure provisions, net of current portion  60.8 60.2Deferred tax liabilities  17.9 19.1Pension liabilities and post-employment benefits  12.8 13.2Acquisition-related contingent consideration, net of current portion  1.3 1.3Other non-current liabilities  4.5 8.8Equity  1,352.2 1,332.9Total liabilities and equity $1,819.8$1,832.4       Schedule 4
INNOSPEC INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
    Three Months Ended
March 31(in millions)  2026 2025Cash Flows from Operating Activities           Net income attributable to Innospec $30.4$32.8Adjustments to reconcile net income to cash provided by operating activities:     Depreciation and amortization  9.9 10.9Adjustment to fair value of contingent consideration  (4.7) 0.7Deferred taxes  (0.7) (0.3)Profit on disposal of property, plant and equipment  - (0.1)Movements on defined benefit pension plans  (0.2) 1.3Stock option compensation  1.6 1.9Changes in working capital  (22.3) (21.6)Movements in plant closure provisions  1.5 (0.4)Movements in income taxes  0.4 4.3Movements in other assets and liabilities  1.7 (1.2)Net cash provided by operating activities  17.6 28.3Cash Flows from Investing Activities           Capital expenditures  (8.9) (8.4)Proceeds on disposal of property, plant and equipment  0.3 0.1Internally developed software  (5.1) (7.2)Net cash used in investing activities  (13.7) (15.5)Cash Flows from Financing Activities           Non-controlling interest  0.4 0.8Issue of treasury stock  0.1 0.2Repurchase of common stock  (7.1) (4.8)Net cash used in financing activities  (6.6) (3.8)      Effect of foreign currency exchange rate changes on cash  (0.7) 1.6Net change in cash and cash equivalents  (3.4) 10.6Cash and cash equivalents at beginning of period  292.5 289.2Cash and cash equivalents at end of period $289.1$299.8      

Innospec Inc. (IOSP) Q1 2026 Earnings Call Transcript

Key Takeaways IOSP Q1 sales rose 3% to $453.2M, topping estimates despite lower adjusted EPS. Innospec raised its dividend 10% and announced a new $75M share repurchase plan. IOSP sees Q2 growth from plant repairs, pricing gains and Oilfield Services expansion. Innospec Inc. (IOSP - Free Report)  earnings per share (as reported) for the first quarter of 2026 declined to $1.22 per share from $1.31 a year ago.  

Adjusted earnings per share declined 26% to $1.05 per share from $1.42 a year ago. It beat the Zacks Consensus Estimate of $1.02 per share. 

Revenues for the first quarter rose 3% year over year to $453.2 million, beating the Zacks Consensus Estimate of $432.2 million. Adjusted EBITDA declined 19% year over year to $43.7 million. Operating income declined 14% to $36.5 million. 

Innospec Inc. Price, Consensus and EPS SurpriseSegment PerformanceFuel Specialties revenues rose 7% year over year to $181.6 million, driven by volume growth of 10% and a favorable currency impact of 6%, offset by an adverse price/mix of 9%. Gross margin compressed 0.3 percentage points to 35.4% and operating income increased 2% to $37.8 million.  

Performance Chemicals revenues rose 1% to $169.4 million as volume declines of 9% were offset by positive price/mix of 1% and favorable currency impact of 9%. Gross margin declined 4.2 percentage points to 16.8% and operating income fell 46% to $10.7 million, adversely impacted by shutdowns at the North Carolina plants due to the January 2026 U.S. winter storm. 

Oilfield Services revenues were essentially flat at $102.2 million. Gross margin improved 1.7 percentage points to 30.1% on a richer sales mix, and operating income increased 37% to $5.6 million, although results were also negatively impacted by the winter storm. 

FinancialsOperating cash flow was $17.6 million versus $28.3 million in the year-ago quarter. The company ended the quarter with cash of $289.1 million and no debt.

 In the first quarter, the effective tax rate was 22.8% compared with 25.7% in the year-ago quarter. The company increased its semi-annual dividend by 10% to 92 cents per share, repurchased $6.2 million of shares in the quarter and announced a new $75 million buyback authorization.

OutlookManagement expects sequential growth in the second quarter from Performance Chemicals, supported by plant repairs, pricing/mix opportunities and margin initiatives. 
For Oilfield Services, the company remains cautiously optimistic that recent DRA expansion and opportunities in completions and production will drive sequential improvement in the second quarter and position the business for further improvement in the second half of 2026. Fuel Specialties is expected to remain a stable contributor, with management citing continued strength across traditional fuel, renewable fuel and non-fuel applications. 

IOSP Stock’s Price PerformanceShares of Innospec have fallen 8.3% in the past year compared with the industry’s 18.7% growth.

Image Source: Zacks Investment Research

IOSP’s Zacks Rank & Key PicksIOSP currently sports a Zacks Rank #4 (Sell).

Some better-ranked stocks worth a look in the basic materials space are Sociedad Quimica y Minera de Chile S.A. (SQM - Free Report) , Idaho Strategic Resources, Inc. (IDR - Free Report) and NioCorp Developments Ltd. (NB - Free Report) .

Sociedad is slated to report first-quarter 2026 results on May 26. The Zacks Consensus Estimate for loss is pegged at $1.78 per share, indicating 270.8% year-over-year growth. SQM has a Zacks Rank #2 (Buy) at present.

Idaho is expected to report first-quarter 2026 results on May 14. The Zacks Consensus Estimate for earnings is pegged at 43 cents per share, indicating 258.3% year-over-year growth. IDR sports a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

NioCorp is expected to report fiscal third-quarter results on May 14. The Zacks Consensus Estimate for NB’s third-quarter loss is pegged at 2 cents per share. NB currently has a Zacks Rank #2.

Posted by Defense World Staff on Apr 11th, 2026

Carnegie Investment Counsel raised its stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO – Free Report) by 293.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 79,958 shares of the industrial products company’s stock after purchasing an additional 59,619 shares during the quarter. Carnegie Investment Counsel owned approximately 0.15% of Lincoln Electric worth $19,161,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. lifted its position in shares of Lincoln Electric by 4.1% in the third quarter. Victory Capital Management Inc. now owns 1,850,816 shares of the industrial products company’s stock valued at $436,478,000 after buying an additional 72,826 shares during the last quarter. Invesco Ltd. lifted its position in shares of Lincoln Electric by 31.8% in the third quarter. Invesco Ltd. now owns 919,926 shares of the industrial products company’s stock valued at $216,946,000 after buying an additional 221,853 shares during the last quarter. Boston Partners lifted its position in shares of Lincoln Electric by 24.6% in the third quarter. Boston Partners now owns 850,201 shares of the industrial products company’s stock valued at $200,517,000 after buying an additional 167,773 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Lincoln Electric by 21.8% in the third quarter. AQR Capital Management LLC now owns 726,949 shares of the industrial products company’s stock valued at $171,167,000 after buying an additional 130,332 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Lincoln Electric by 1.5% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 375,068 shares of the industrial products company’s stock valued at $88,452,000 after buying an additional 5,365 shares during the last quarter. 79.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets A number of analysts have recently issued reports on LECO shares. Wall Street Zen cut Lincoln Electric from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Barclays cut their price objective on Lincoln Electric from $310.00 to $280.00 and set an “overweight” rating for the company in a research report on Wednesday, April 1st. Robert W. Baird set a $330.00 price objective on Lincoln Electric in a research report on Friday, February 13th. Jefferies Financial Group reissued a “hold” rating and set a $280.00 price target (down from $350.00) on shares of Lincoln Electric in a report on Tuesday, March 31st. Finally, Roth Mkm reissued a “buy” rating and set a $297.00 price target (up from $285.00) on shares of Lincoln Electric in a report on Tuesday, February 3rd. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $291.14.

Read Our Latest Stock Analysis on Lincoln Electric

Lincoln Electric Stock Performance NASDAQ:LECO opened at $256.26 on Friday. The stock has a market cap of $14.05 billion, a P/E ratio of 27.50, a PEG ratio of 1.59 and a beta of 1.28. The stock has a 50 day simple moving average of $269.62 and a 200 day simple moving average of $251.07. The company has a current ratio of 1.82, a quick ratio of 1.16 and a debt-to-equity ratio of 0.78. Lincoln Electric Holdings, Inc. has a 1-year low of $169.69 and a 1-year high of $310.00.

Lincoln Electric (NASDAQ:LECO – Get Free Report) last released its quarterly earnings results on Thursday, February 12th. The industrial products company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.12. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Lincoln Electric had a return on equity of 39.35% and a net margin of 12.30%.The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the firm posted $2.57 EPS. Research analysts anticipate that Lincoln Electric Holdings, Inc. will post 9.36 earnings per share for the current year.

Lincoln Electric Dividend Announcement The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a $0.79 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $3.16 annualized dividend and a yield of 1.2%. Lincoln Electric’s payout ratio is currently 33.91%.

Lincoln Electric Profile (Free Report)

Lincoln Electric Holdings, Inc (NASDAQ: LECO) is a global manufacturer and distributor of welding products, robotic welding systems, plasma and oxyfuel cutting equipment, and surface treatment systems. The company’s portfolio encompasses welding consumables such as electrodes and wires, as well as power sources, torches, and automated welding cells. Lincoln Electric also offers software solutions and training services designed to optimize productivity and quality in fabrication and manufacturing operations.

Founded in 1895 by John C.

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Posted by Defense World Staff on Apr 14th, 2026

Deprince Race & Zollo Inc. trimmed its position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO – Free Report) by 21.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,462 shares of the industrial products company’s stock after selling 10,614 shares during the quarter. Deprince Race & Zollo Inc. owned about 0.07% of Lincoln Electric worth $9,217,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Burney Co. purchased a new position in shares of Lincoln Electric in the fourth quarter worth about $223,000. Choreo LLC raised its stake in shares of Lincoln Electric by 11.7% in the fourth quarter. Choreo LLC now owns 3,097 shares of the industrial products company’s stock worth $754,000 after purchasing an additional 324 shares during the last quarter. Ritholtz Wealth Management raised its stake in shares of Lincoln Electric by 19.9% in the fourth quarter. Ritholtz Wealth Management now owns 1,327 shares of the industrial products company’s stock worth $318,000 after purchasing an additional 220 shares during the last quarter. Diversify Advisory Services LLC raised its stake in shares of Lincoln Electric by 11.3% in the fourth quarter. Diversify Advisory Services LLC now owns 1,913 shares of the industrial products company’s stock worth $504,000 after purchasing an additional 194 shares during the last quarter. Finally, Carnegie Investment Counsel raised its stake in shares of Lincoln Electric by 293.1% in the fourth quarter. Carnegie Investment Counsel now owns 79,958 shares of the industrial products company’s stock worth $19,161,000 after purchasing an additional 59,619 shares during the last quarter. 79.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes Several brokerages have recently issued reports on LECO. KeyCorp raised their price objective on Lincoln Electric from $280.00 to $340.00 and gave the stock an “overweight” rating in a research note on Friday, February 13th. Weiss Ratings cut Lincoln Electric from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, March 31st. Robert W. Baird set a $330.00 price objective on Lincoln Electric in a research note on Friday, February 13th. Stifel Nicolaus dropped their target price on Lincoln Electric from $300.00 to $264.00 and set a “hold” rating on the stock in a report on Wednesday, April 8th. Finally, Morgan Stanley lifted their price target on Lincoln Electric from $240.00 to $247.00 and gave the company an “underweight” rating in a research report on Monday, March 30th. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $291.14.

Read Our Latest Report on LECO

Lincoln Electric Stock Up 1.5% Lincoln Electric stock opened at $260.15 on Tuesday. The stock has a market capitalization of $14.26 billion, a PE ratio of 27.91, a price-to-earnings-growth ratio of 1.59 and a beta of 1.28. Lincoln Electric Holdings, Inc. has a 12 month low of $169.69 and a 12 month high of $310.00. The business has a 50 day simple moving average of $269.47 and a 200-day simple moving average of $251.46. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.82 and a quick ratio of 1.16.

Lincoln Electric (NASDAQ:LECO – Get Free Report) last issued its quarterly earnings results on Thursday, February 12th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.12. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.09 billion. Lincoln Electric had a return on equity of 39.35% and a net margin of 12.30%.The business’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.57 earnings per share. On average, analysts anticipate that Lincoln Electric Holdings, Inc. will post 9.36 EPS for the current fiscal year.

Lincoln Electric Dividend Announcement The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.79 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $3.16 dividend on an annualized basis and a yield of 1.2%. Lincoln Electric’s payout ratio is 33.91%.

Lincoln Electric Profile (Free Report)

Lincoln Electric Holdings, Inc (NASDAQ: LECO) is a global manufacturer and distributor of welding products, robotic welding systems, plasma and oxyfuel cutting equipment, and surface treatment systems. The company’s portfolio encompasses welding consumables such as electrodes and wires, as well as power sources, torches, and automated welding cells. Lincoln Electric also offers software solutions and training services designed to optimize productivity and quality in fabrication and manufacturing operations.

Founded in 1895 by John C.

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Posted by Defense World Staff on Apr 19th, 2026

Birch Hill Investment Advisors LLC grew its holdings in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO – Free Report) by 1.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 200,860 shares of the industrial products company’s stock after purchasing an additional 2,690 shares during the quarter. Lincoln Electric makes up approximately 2.0% of Birch Hill Investment Advisors LLC’s holdings, making the stock its 19th biggest position. Birch Hill Investment Advisors LLC owned about 0.37% of Lincoln Electric worth $48,134,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quent Capital LLC purchased a new stake in shares of Lincoln Electric during the 3rd quarter valued at about $27,000. Frazier Financial Advisors LLC increased its position in shares of Lincoln Electric by 3,700.0% during the 3rd quarter. Frazier Financial Advisors LLC now owns 114 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 111 shares during the last quarter. Root Financial Partners LLC purchased a new stake in shares of Lincoln Electric during the 3rd quarter valued at about $31,000. SJS Investment Consulting Inc. increased its position in shares of Lincoln Electric by 3,860.0% during the 3rd quarter. SJS Investment Consulting Inc. now owns 198 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 193 shares during the last quarter. Finally, Eastern Bank increased its position in shares of Lincoln Electric by 109.4% during the 3rd quarter. Eastern Bank now owns 201 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 105 shares during the last quarter. Hedge funds and other institutional investors own 79.61% of the company’s stock.

Lincoln Electric Trading Up 3.5% Lincoln Electric stock opened at $261.40 on Friday. The firm has a 50 day moving average of $267.28 and a 200 day moving average of $251.97. The firm has a market capitalization of $14.33 billion, a price-to-earnings ratio of 28.05, a P/E/G ratio of 1.56 and a beta of 1.28. Lincoln Electric Holdings, Inc. has a 12-month low of $169.69 and a 12-month high of $310.00. The company has a current ratio of 1.82, a quick ratio of 1.16 and a debt-to-equity ratio of 0.78.

Lincoln Electric (NASDAQ:LECO – Get Free Report) last released its earnings results on Thursday, February 12th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.12. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.09 billion. Lincoln Electric had a net margin of 12.30% and a return on equity of 39.35%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.57 EPS. As a group, research analysts predict that Lincoln Electric Holdings, Inc. will post 9.36 earnings per share for the current year.

Lincoln Electric Announces Dividend The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 1.2%. The ex-dividend date is Tuesday, June 30th. Lincoln Electric’s dividend payout ratio is presently 33.91%.

Analyst Upgrades and Downgrades Several equities research analysts have recently commented on LECO shares. KeyCorp upped their price target on shares of Lincoln Electric from $280.00 to $340.00 and gave the company an “overweight” rating in a research report on Friday, February 13th. Stifel Nicolaus reduced their price target on shares of Lincoln Electric from $300.00 to $264.00 and set a “hold” rating for the company in a research report on Wednesday, April 8th. Wall Street Zen lowered shares of Lincoln Electric from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Barclays reduced their target price on shares of Lincoln Electric from $310.00 to $280.00 and set an “overweight” rating for the company in a report on Wednesday, April 1st. Finally, Morgan Stanley increased their target price on shares of Lincoln Electric from $240.00 to $247.00 and gave the stock an “underweight” rating in a report on Monday, March 30th. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Lincoln Electric has a consensus rating of “Hold” and a consensus target price of $291.14.

View Our Latest Research Report on Lincoln Electric

More Lincoln Electric News Here are the key news stories impacting Lincoln Electric this week:

Positive Sentiment: Quarterly dividend declared — Lincoln Electric announced a quarterly cash dividend of $0.79 per share, payable July 15 to holders of record June 30 (ex‑dividend date June 30). The payout implies an annualized yield of about 1.3%, supporting income investors and signaling confidence in cash flow. Positive Sentiment: Zacks modestly raised EPS forecasts — Zacks Research issued a series of small upward revisions to LECO’s EPS: Q1 2026 to $2.42 (from $2.40), Q2 2026 to $2.81 (from $2.80), Q1 2027 to $2.59 (from $2.57) and FY2027 to $11.41 (from $11.39); it also noted a Q1 2028 estimate of $2.74. These tweaks suggest analysts see marginally better near‑term earnings momentum, which can lift sentiment. MarketBeat Zacks Note Neutral Sentiment: Brokerage consensus is “Hold” — Coverage summary shows a consensus recommendation of Hold, indicating analysts are not uniformly bullish despite the estimate bumps; this may cap upside if broader sentiment doesn’t shift. Article Title About Lincoln Electric (Free Report)

Lincoln Electric Holdings, Inc (NASDAQ: LECO) is a global manufacturer and distributor of welding products, robotic welding systems, plasma and oxyfuel cutting equipment, and surface treatment systems. The company’s portfolio encompasses welding consumables such as electrodes and wires, as well as power sources, torches, and automated welding cells. Lincoln Electric also offers software solutions and training services designed to optimize productivity and quality in fabrication and manufacturing operations.

Founded in 1895 by John C.

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Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering Lincoln Electric Holdings (LECO - Free Report) , which belongs to the Zacks Manufacturing - Tools & Related Products industry.

This manufacturer of specialized welding products and other equipment has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the past two quarters of 4.05%.

For the most recent quarter, Lincoln Electric was expected to post earnings of $2.53 per share, but it reported $2.65 per share instead, representing a surprise of 4.74%. For the previous quarter, the consensus estimate was $2.39 per share, while it actually produced $2.47 per share, a surprise of 3.35%.

Price and EPS Surprise

Thanks in part to this history, there has been a favorable change in earnings estimates for Lincoln Electric lately. In fact, the Zacks Earnings ESP (Expected Surprise Prediction) for the stock is positive, which is a great indicator of an earnings beat, particularly when combined with its solid Zacks Rank.

Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. 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.

Lincoln Electric has an Earnings ESP of +1.53% at the moment, suggesting that analysts have grown bullish on its near-term earnings potential. When you combine this positive Earnings ESP with the stock's Zacks Rank #3 (Hold), it shows that another beat is possibly around the corner. The company's next earnings report is expected to be released on April 30, 2026.

Investors should note, however, that a negative Earnings ESP reading is not indicative of an earnings miss, but a negative value does reduce the predictive power of this metric.

Many companies end up beating the consensus EPS estimate, though this is not the only reason why their shares gain. Additionally, some stocks may remain stable even if they end up missing the consensus estimate.

Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

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First Quarter 2026 Highlights

Net sales increase 11.7% to $1,121 million; organic sales increase 7.8% Operating income margin of 16.6%; Adjusted operating income margin of 16.9% EPS of $2.47; Adjusted EPS of $2.50 Returned $101 million to shareholders through dividends and share repurchases CLEVELAND--(BUSINESS WIRE)--Lincoln Electric Holdings, Inc. (the “Company”) (Nasdaq: LECO) today reported first quarter 2026 net income of $136.4 million, or diluted earnings per share (EPS) of $2.47, which includes special item after-tax net charges of $2.1 million, or $0.03 EPS. This compares with prior year period net income of $118.5 million, or $2.10 EPS, which included special item after-tax net charges of $3.4 million, or $0.06 EPS. Excluding special items, first quarter 2026 adjusted net income was $138.5 million, or $2.50 adjusted EPS. This compares with adjusted net income of $121.9 million, or $2.16 adjusted EPS, in the prior year period.

“We achieved solid first quarter performance driven by disciplined cost management and improving industrial activity in the Americas,” said Steven B. Hedlund, Chairman and Chief Executive Officer.

Share First quarter 2026 sales increased 11.7% to $1,121.4 million reflecting a 7.8% increase in organic sales, a 1.6% benefit from acquisitions and a 2.3% favorable foreign exchange. Operating income for the first quarter 2026 was $186.2 million, or 16.6% of sales. This compares with operating income of $164.9 million, or 16.4% of sales, in the prior year period. Excluding special items, adjusted operating income was $189.0 million, or 16.9% of sales, as compared with $169.4 million, or 16.9% of sales, in the prior year period.

“We achieved solid first quarter performance driven by disciplined cost management and improving industrial activity in the Americas,” said Steven B. Hedlund, Chairman and Chief Executive Officer. “Our team remains agile as we navigate evolving operating conditions and advance our new long-term RISE strategy. We are well positioned to capitalize on growth opportunities, increase profitability and compound earnings from our strategic initiatives and our capital allocation strategy,” Hedlund concluded.

Webcast Information

This earnings release and supplemental information is available under the Investor Relations section of our website. A call to discuss first quarter 2026 financial results will be webcast live today, April 30, 2026, at 10:00 a.m., Eastern Time. Participants can access the call in listen-only mode here and at https://ir.lincolnelectric.com. To participate via telephone, please dial (888) 440-4368 (domestic) or (646) 960-0856 (international) and use confirmation code 6709091. A replay of the earnings call will be available on the Company's website later today.

About Lincoln Electric

Lincoln Electric is a high-performance industrial machinery and technology leader who helps customers manufacture and maintain vital equipment and infrastructure. Lincoln Electric’s innovative solutions enable higher quality and productivity across a variety of processes including welding, cutting, brazing, machining, process automation, and field repair. The Company leverages proprietary technologies and expertise in materials science, power electronics, automation, and intelligent software to help customers build better and achieve resilience in their operations. Headquartered in Cleveland, Ohio, Lincoln Electric is the essential ‘Linc’ that keeps the economy running. The Company operates 71 manufacturing and automation facilities across 20 countries and serves customers in over 160 countries. For more information about Lincoln Electric and its products and services, visit the Company’s website at https://www.lincolnelectric.com.

Non-GAAP Information

Adjusted operating income, adjusted net income, adjusted EBIT, adjusted effective tax rate, adjusted diluted earnings per share (“adjusted EPS”), Organic sales, Free cash flow, Cash conversion, adjusted net operating profit after taxes and adjusted return on invested capital (“adjusted ROIC”) are non-GAAP financial measures. Management uses non-GAAP measures to assess the Company's operating performance by excluding certain disclosed special items that management believes are not representative of the Company's core business. Management believes that excluding these special items enables them to make better period-over-period comparisons and benchmark the Company's operational performance against other companies in its industry more meaningfully. Furthermore, management believes that non-GAAP financial measures provide investors with meaningful information that provides a more complete understanding of Company operating results and enables investors to analyze financial and business trends more thoroughly. Non-GAAP financial measures should not be viewed in isolation, are not a substitute for GAAP measures and have limitations including, but not limited to, their usefulness as comparative measures as other companies may define their non-GAAP measures differently.

Forward-Looking Statements

The Company’s expectations and beliefs concerning the future contained in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect management’s current expectations and involve a number of risks and uncertainties. Forward-looking statements generally can be identified by the use of words such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “forecast,” “guidance” or words of similar meaning. Actual results may differ materially from such statements due to a variety of factors that could adversely affect the Company’s operating results. The factors include, but are not limited to: general economic, financial and market conditions; the effectiveness of commercial and operating initiatives; the effectiveness of information systems and cybersecurity programs; presence of artificial intelligence technologies; completion of planned divestitures; interest rates; disruptions, uncertainty or volatility in the credit markets that may limit our access to capital; currency exchange rates and devaluations; adverse outcome of pending or potential litigation; actual costs of the Company’s rationalization plans; the Company’s ability to complete acquisitions, including the Company’s ability to successfully integrate acquisitions; market risks and price fluctuations related to the purchase of commodities and energy; global regulatory complexity; the effects of changes in tax law; tariff rates in the countries where the Company conducts business; and the possible effects of events beyond our control, including but not limited to, geopolitical conflicts, political unrest, acts of terror, natural disasters and pandemics on the Company or its customers, suppliers and the economy in general. For additional discussion, see “Item 1A. Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.

Lincoln Electric Holdings, Inc.

Financial Highlights

(In thousands, except per share amounts)

(Unaudited)

  Consolidated Statements of Income

Fav (Unfav) to

Three Months Ended March 31,

Prior Year

2026

% of Sales

2025

% of Sales

$

%

Net sales

$

1,121,434

100.0

%

$

1,004,388

100.0%

$

117,046

11.7

%

Cost of goods sold

722,302

64.4

%

638,940

63.6%

(83,362)

(13.0)

%

Gross profit

399,132

35.6

%

365,448

36.4%

33,684

9.2

%

Selling, general & administrative expenses

210,811

18.8

%

196,665

19.6%

(14,146)

(7.2)

%

Rationalization and asset impairment net charges

2,163

0.2

%

3,865

0.4%

1,702

44.0

%

Operating income

186,158

16.6

%

164,918

16.4%

21,240

12.9

%

Interest expense, net

13,374

1.2

%

12,127

1.2%

(1,247)

(10.3)

%

Other income

570

0.1

%

444

—

126

28.4

%

Income before income taxes

173,354

15.5

%

153,235

15.3%

20,119

13.1

%

Income taxes

36,972

3.3

%

34,748

3.5%

(2,224)

(6.4)

%

Effective tax rate

21.3

%

22.7

%

1.4

%

Net income

$

136,382

12.2

%

$

118,487

11.8%

$

17,895

15.1

%

Basic earnings per share

$

2.49

$

2.11

$

0.38

18.0

%

Diluted earnings per share

$

2.47

$

2.10

$

0.37

17.6

%

Weighted average shares (basic)

54,822

56,058

Weighted average shares (diluted)

55,317

56,527

Lincoln Electric Holdings, Inc.

Financial Highlights

(In thousands)

(Unaudited)

  Balance Sheet Highlights

Selected Consolidated Balance Sheet Data

March 31, 2026

December 31, 2025

Cash and cash equivalents

$

298,903

$

308,789

Accounts receivable, net

598,315

538,791

Inventories

693,938

633,364

Total current assets

1,863,444

1,739,512

Property, plant and equipment, net

720,836

702,762

Total assets

3,900,395

3,777,577

Trade accounts payable

448,138

364,934

Total current liabilities (1)

1,020,357

956,691

Long-term debt, less current portion

1,150,138

1,150,228

Total equity

1,511,260

1,469,794

Operating Working Capital

March 31, 2026

December 31, 2025

Average operating working capital to Net sales (2)

18.6

%

17.9

%

Invested Capital

March 31, 2026

December 31, 2025

Short-term debt (1)

$

163,502

$

143,780

Long-term debt, less current portion

1,150,138

1,150,228

Total debt

1,313,640

1,294,008

Total equity

1,511,260

1,469,794

Invested capital

$

2,824,900

$

2,763,802

Total debt / invested capital

46.5

%

46.8

%

Lincoln Electric Holdings, Inc.

Financial Highlights

(In thousands, except per share amounts)

(Unaudited)

  Non-GAAP Financial Measures

Three Months Ended March 31,

2026

2025

Operating income as reported

$

186,158

$

164,918

Special items (pre-tax):

Rationalization and asset impairment net charges (2)

2,163

3,865

Transaction costs (3)

653

802

Amortization of step up in value of acquired inventories (4)

—

(140)

Adjusted operating income (1)

$

188,974

$

169,445

As a percent of net sales

16.9

%

16.9

%

Net income as reported

$

136,382

$

118,487

Special items:

Rationalization and asset impairment net charges (2)

2,163

3,865

Transaction costs (3)

653

802

Amortization of step up in value of acquired inventories (4)

—

(140)

Tax effect of Special items (5)

(740)

(1,158)

Adjusted net income (1)

138,458

121,856

Interest expense, net

13,374

12,127

Income taxes as reported

36,972

34,748

Tax effect of Special items (5)

740

1,158

Adjusted EBIT (1)

$

189,544

$

169,889

Effective tax rate as reported

21.3

%

22.7

%

Net special item tax impact

0.1

%

0.1

%

Adjusted effective tax rate (1)

21.4

%

22.8

%

Diluted earnings per share as reported

$

2.47

$

2.10

Special items per share

0.03

0.06

Adjusted diluted earnings per share (1)

$

2.50

$

2.16

Weighted average shares (diluted)

55,317

56,527

(1)

Adjusted operating income, adjusted net income, adjusted EBIT, adjusted effective tax rate and adjusted diluted EPS are non-GAAP financial measures. Refer to Non-GAAP Information section.

(2)

2026 and 2025 net charges primarily relate to rationalization plans within all three segments.

(3)

Transaction costs primarily relate to acquisitions and are included in Selling, general & administrative expenses.

(4)

Costs relate to acquisitions and are included in Cost of goods sold.

(5)

Includes the net tax impact of Special items recorded during the respective periods. The tax effect of Special items impacting pre-tax income was calculated as the pre-tax amount multiplied by the applicable tax rate. The applicable tax rates reflect the taxable jurisdiction and nature of each Special item.

Lincoln Electric Holdings, Inc.

Financial Highlights

(In thousands, except per share amounts)

(Unaudited)

  Non-GAAP Financial Measures

Twelve Months Ended March 31,

Return on Invested Capital

2026

2025

Net income as reported

$

538,428

$

461,180

Plus: Interest expense (after-tax)

44,044

41,450

Less: Interest income (after-tax)

4,459

6,868

Net operating profit after taxes

$

578,013

$

495,762

Special Items:

Rationalization and asset impairment net charges

16,497

55,120

Transaction costs

2,590

6,085

Pension settlement net charges

719

3,792

Amortization of step up in value of acquired inventories

4,104

4,883

Loss on asset disposal

—

4,950

Tax effect of Special items (2)

5,595

(11,545)

Adjusted net operating profit after taxes (1)

$

607,518

$

559,047

Invested Capital

March 31, 2026

March 31, 2025

Short-term debt

$

163,502

$

109,620

Long-term debt, less current portion

1,150,138

1,150,473

Total debt

1,313,640

1,260,093

Total equity

1,511,260

1,340,170

Invested capital

$

2,824,900

$

2,600,263

Return on invested capital as reported

20.5

%

19.1

%

Adjusted return on invested capital (1)

21.5

%

21.5

%

Three Months Ended March 31,

Cash Conversion

2026

2025

Net cash provided by operating activities

$

102,170

$

185,693

Capital expenditures

(39,163

)

(26,949

)

Free cash flow (1)

$

63,007

$

158,744

Adjusted net income

$

138,458

$

121,856

Cash conversion (1)

46

%

130

%

Free cash flow and cash conversion are non-GAAP financial measures. Refer to Non-GAAP Information section.

Lincoln Electric Holdings, Inc.

Financial Highlights

(In thousands, except per share amounts)

(Unaudited)

  Condensed Consolidated Statements of Cash Flows

Three Months Ended March 31,

2026

2025

OPERATING ACTIVITIES:

Net income

$

136,382

$

118,487

Adjustments to reconcile Net income to Net cash provided by operating activities:

Depreciation and amortization

26,009

23,784

Deferred income taxes

22,533

(5,838

)

Other non-cash items, net

8,064

8,634

Changes in operating assets and liabilities, net of effects from acquisitions:

Increase in accounts receivable

(60,212

)

(34,108

)

Increase in inventories

(61,876

)

(20,167

)

(Increase) decrease in other current assets

(13,471

)

2,057

Increase in trade accounts payable

83,784

64,884

(Decrease) increase in other current liabilities

(43,138

)

21,206

Net change in other assets and liabilities

4,095

6,754

NET CASH PROVIDED BY OPERATING ACTIVITIES

102,170

185,693

INVESTING ACTIVITIES:

Capital expenditures

(39,163

)

(26,949

)

Acquisition of businesses, net of cash acquired

140

—

Proceeds from sale of property, plant and equipment

308

4,646

NET CASH USED BY INVESTING ACTIVITIES

(38,715

)

(22,303

)

FINANCING ACTIVITIES:

Proceeds from (payments on) short-term borrowings, net

19,613

(904

)

Payments on long-term borrowings

—

(169

)

Proceeds from exercise of stock options

8,559

6,254

Purchase of shares for treasury

(56,670

)

(106,694

)

Cash dividends paid to shareholders

(44,071

)

(42,975

)

NET CASH USED BY FINANCING ACTIVITIES

(72,569

)

(144,488

)

Effect of exchange rate changes on Cash and cash equivalents

(772

)

(1,459

)

(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS

(9,886

)

17,443

Cash and cash equivalents at beginning of period

308,789

377,262

Cash and cash equivalents at end of period

$

298,903

$

394,705

Cash dividends paid per share

$

0.79

$

0.75

Lincoln Electric Holdings, Inc.

Segment Highlights

(In thousands)

(Unaudited)

Americas

International

The Harris

Corporate /

Welding

Welding

Products Group

Eliminations

Consolidated

Three months ended March 31, 2026

Net sales

$

706,225

$

227,035

$

188,174

$

—

$

1,121,434

Inter-segment sales

36,709

5,807

4,664

(47,180

)

—

Total sales

$

742,934

$

232,842

$

192,838

$

(47,180

)

$

1,121,434

Net income

$

136,382

As a percent of total sales

12.2

%

EBIT (1)

$

126,895

$

20,890

$

40,991

$

(2,048

)

$

186,728

As a percent of total sales

17.1

%

9.0

%

21.3

%

16.7

%

Special items charges (gain) (3)

573

1,772

(182

)

653

2,816

Adjusted EBIT (2)

$

127,468

$

22,662

$

40,809

$

(1,395

)

$

189,544

As a percent of total sales

17.2

%

9.7

%

21.2

%

16.9

%

Three months ended March 31, 2025

Net sales

$

653,107

$

219,061

$

132,220

$

—

$

1,004,388

Inter-segment sales

30,372

6,832

3,984

(41,188

)

—

Total sales

$

683,479

$

225,893

$

136,204

$

(41,188

)

$

1,004,388

Net income

$

118,487

As a percent of total sales

11.8

%

EBIT (1)

$

122,063

$

21,600

$

24,151

$

(2,452

)

$

165,362

As a percent of total sales

17.9

%

9.6

%

17.7

%

16.5

%

Special items charges (4)

2,135

1,412

178

802

4,527

Adjusted EBIT (2)

$

124,198

$

23,012

$

24,329

$

(1,650

)

$

169,889

As a percent of total sales

18.2

%

10.2

%

17.9

%

16.9

%

(1)

EBIT is defined as Operating income plus Other income.

(2)

The primary profit measure used by management to assess segment performance is adjusted EBIT. EBIT for each operating segment is adjusted for special items to derive adjusted EBIT.

(3)

Special items in 2026 primarily reflect Rationalization and asset impairments net charges of $573 in Americas Welding and $1,772 in International Welding, and a net gain of $182 in Harris Products Group. In addition, there were transaction costs of $653 in Corporate/Eliminations.

(4)

Special items in 2025 primarily reflect Rationalization and asset impairments net charges of $2,135 in Americas Welding, $1,552 in International Welding and $178 in Harris Products Group, as well as transaction costs of $802 in Corporate/Eliminations.

Lincoln Electric Holdings, Inc.

Change in Net Sales by Segment

(In thousands)

(Unaudited)

Three Months Ended March 31st Change in Net Sales by Segment

Change in Net Sales due to:

Net Sales

Foreign

Net Sales

2025

Volume

Price

Acquisitions

Exchange

2026

Operating Segments

Americas Welding

$

653,107

$

(2,635)

$

49,479

$

—

$

6,274

$

706,225

International Welding

219,061

(21,631)

297

15,794

13,514

227,035

The Harris Products Group

132,220

(1,375)

54,782

—

2,547

188,174

Consolidated

$

1,004,388

$

(25,641)

$

104,558

$

15,794

$

22,335

$

1,121,434

% Change

Americas Welding

(0.4)

%

7.6

%

—

0.9

%

8.1

%

International Welding

(9.9)

%

0.1

%

7.2

%

6.2

%

3.6

%

The Harris Products Group

(1.0)

%

41.4

%

—

1.9

%

42.3

%

Consolidated

(2.6)

%

10.4

%

1.6

%

2.3

%

11.7

%

More News From Lincoln Electric Holdings, Inc.

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Lincoln Electric Holdings (LECO - Free Report) reported $1.12 billion in revenue for the quarter ended March 2026, representing a year-over-year increase of 11.7%. EPS of $2.50 for the same period compares to $2.16 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $1.07 billion, representing a surprise of +4.58%. The company delivered an EPS surprise of +3.52%, with the consensus EPS estimate being $2.42.

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.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

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

Total Sales- Corporate and Elimination: $-47.18 million versus the four-analyst average estimate of $-44.26 million. The reported number represents a year-over-year change of +14.6%.Total Sales- Americas Welding: $742.93 million compared to the $731.49 million average estimate based on four analysts. The reported number represents a change of +8.7% year over year.Net Sales- Americas Welding: $706.23 million compared to the $699.99 million average estimate based on four analysts. The reported number represents a change of +8.1% year over year.Net Sales- International Welding: $227.04 million versus $234.52 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +3.6% change.Total Sales- International Welding: $232.84 million compared to the $240.91 million average estimate based on four analysts. The reported number represents a change of +3.1% year over year.Net Sales- The Harris Products Group: $188.17 million versus $150.81 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +42.3% change.Total Sales- The Harris Products Group: $192.84 million versus the four-analyst average estimate of $153.31 million. The reported number represents a year-over-year change of +41.6%.Inter-segment sales- The Harris Products Group: $4.66 million versus the three-analyst average estimate of $4.44 million. The reported number represents a year-over-year change of +17.1%.Inter-segment sales- International Welding: $5.81 million versus $7.44 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -15% change.Inter-segment sales- Americas Welding: $36.71 million compared to the $32.49 million average estimate based on three analysts. The reported number represents a change of +20.9% year over year.Adjusted EBIT- Americas Welding: $127.47 million compared to the $136.06 million average estimate based on four analysts.Adjusted EBIT- Corporate/Eliminations: $-1.4 million versus $-4.78 million estimated by four analysts on average.View all Key Company Metrics for Lincoln Electric here>>>

Shares of Lincoln Electric have returned +3.1% over the past month versus the Zacks S&P 500 composite's +12.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

CLEVELAND--(BUSINESS WIRE)-- #LEA--Lincoln Electric Holdings, Inc. (Nasdaq: LECO) today announced that Gabriel Bruno, Executive Vice President and Chief Financial Officer, will speak at the Oppenheimer 21st Annual Industrial Growth Conference being held virtually on Wednesday, May 6, 2026, at 10:30am Eastern Time. The presentation will be webcast and available as a replay on our Investor Relations web site at https://ir.lincolnelectric.com. About Lincoln Electric Lincoln Electric is a high-performance.