Track market-moving stories before they get noisy

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE: GVA) today announced that it has completed the acquisition of Kenny Seng Construction, strengthening Granite's vertically-integrated construction and construction materials platform in Utah. Acquisition Highlights Expands Granite's vertically-integrated home market in Utah, enhancing its construction and materials presence in a high-growth region. Adds end-to-end construction capabilities, including earthwork and site preparation, concrete wo.

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE: GVA) today announced results for the quarter ended March 31, 2026. First Quarter 2026 Results Net loss attributable to Granite totaled $42 million, or $(0.96) per diluted share, compared to net loss attributable to Granite of $34 million, or $(0.77) per diluted share, for the same period in the prior year. Adjusted net income attributable to Granite (1) totaled $12 million, or $0.26 per diluted share, compared to adjusted net income attributa.

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) announced today that it has been awarded the Glenn Highway MP 66.5 to 92 Pavement Preservation project by the Alaska Department of Transportation and Public Facilities. The approximately $15M contract is federally funded and was included in Granite’s first quarter 2026 CAP.

We are excited to partner with Alaska DOT&PF and execute on this important infrastructure upgrade

Share Glenn Highway travels 179 miles from Anchorage to Glennallen. A National Scenic Byway, the road provides access to stunning landscapes and a wealth of outdoor activities. Granite’s scope of work includes resurfacing the highway from milepost 83 to 92. Additionally, the project will replace culverts, guardrail, striping, and signage along the length of the project.

“This contract is a great win for the Alaska team and provides key backlog for our Palmer Facility,” says Granite Regional Vice President Ryan Moren. “We are excited to partner with Alaska DOT&PF and execute on this important infrastructure upgrade to keep Alaskans and visitors moving.”

The project is expected to begin in May 2026 and conclude by July 2027. Granite’s Palmer Facility will provide 27,000 tons of hot mix asphalt and the Lucas Quarry will provide 2,300 tons of riprap products.

About Granite

Granite is America’s Infrastructure Company™. Incorporated since 1922, Granite (NYSE:GVA) is one of the largest diversified construction and construction materials companies in the United States as well as a full-suite civil construction provider. Granite’s Code of Conduct and strong Core Values guide the Company and its employees to uphold the highest ethical standards. Granite is an industry leader in safety and an award-winning firm in quality and sustainability. For more information, visit the Granite website, graniteconstruction.com, and connect with Granite on LinkedIn, X, Facebook, and Instagram.

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite Construction Incorporated (NYSE: GVA) (“Granite”) announced today that it plans to offer $600.0 million aggregate principal amount of senior notes due 2034 (the “Notes”) in a private offering that is exempt from the registration requirements of the Securities Act of 1933 (the “Securities Act”). The Notes will be guaranteed on an unsecured basis by each of Granite's existing and future domestic subsidiaries that is a borrower or a guarantor under Gra.

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite Construction Incorporated (NYSE: GVA) (“Granite”) today announced that it has called all of its outstanding 3.75% Convertible Senior Notes due 2028 (the “2028 Notes”) (CUSIP No. 387328 AD9) for redemption on August 10, 2026 (the “Redemption Date”). The redemption price will be an amount in cash equal to 100% of the principal amount of each 2028 Note called for redemption, plus accrued and unpaid interest on such 2028 Note to, but excluding, the Rede.

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE: GVA) announced it has been awarded an approximately $19 million Progressive Design-Build (PDB) Guaranteed Maximum Price (GMP) 1 for the Tahoe Cedars Water System Replacement Project by the Tahoe City Public Utility District (TCPUD). The Tahoe Cedars Water System Replacement Project, located on the west shore of Lake Tahoe, California, will modernize critical infrastructure serving the Tahoe Cedars community by replacing aging pipelines and sy.

NINGBO, China, April 17, 2026 (GLOBE NEWSWIRE) -- Zeekr, a global luxury technology brand under Geely Auto Group, officially launched the Zeekr 8X, an all-new high-performance flagship SUV. The new model further enhances the brand’s luxury SUV portfolio by forming a dual-flagship lineup with the Zeekr 9X.

Built on the SEA-S architecture and the Super Electric Power (SEP) Hybrid System, the Zeekr 8X seamlessly combines powerful performance, all-scenario handling, and a premium experience, redefining the standards for high-performance flagship SUVs. Thanks to core technologies such as its full-stack 900V high-voltage architecture, high-performance AWD system, and Haohan AI Digital Chassis, the Zeekr 8X delivers unmatched power across all speed ranges and steady control on all terrains. The three-motor Zeekr 8X Black Edition accelerates from 0 to 100 km/h in just 2.96 seconds, making it the world’s fastest-accelerating hybrid SUV.

As a flagship five-seater, the Zeekr 8X shatters the conventional notion that “performance and comfort are mutually exclusive” with MPV-like spaciousness, one-touch comfort of the Eames Lounge Chair, and the world’s only Naim audio system, offering a new luxury choice that balances driving performance with comfort.

As the first model to feature a cabin-and-driving-integrated super intelligence system, the Zeekr 8X is setting a new intelligence benchmark for the new energy era. The voice assistant has evolved to Super Eva based on WAM (World Action Model), becoming a vehicle-wide super-intelligent control center natively integrated with underlying systems such as G-ASD 4.0 driver-assistance system, chassis, and powertrain.

The variants of Zeekr 8X are listed between RMB 356,800 and 426,800, and the Black Edition is priced at RMB 500,800.

About Geely Auto Group
Geely Auto Group is a leading global automotive company headquartered in Hangzhou, China. Part of Zhejiang Geely Holding Group, Geely Auto Group develops and manufactures passenger vehicles under the Geely, Lynk & Co, and Zeekr brands.

Geely Auto achieved cumulative sales of 3,024,567 units in 2025, exceeding the full-year sales target with a year-on-year growth of 39%. New energy vehicle (NEV) sales reached 1,687,767 units, a year-on-year increase of 90%.

With a strong focus on technology innovation, electrification, and sustainable mobility, Geely Auto Group operates world-class R&D centers and manufacturing facilities across China, Europe, and key international markets. The Group is committed to delivering safe, high-quality, and intelligent vehicles enabled by advanced technologies such as hybrid powertrains, full-electric architectures, smart connectivity, and autonomous driving systems.

As a global company, Geely Auto Group continues to expand its international presence through strategic partnerships, localized operations, and industry-leading platforms. Geely strives to create mobility solutions that are greener, smarter, and more accessible, driving forward the future of sustainable transportation.

Company: Geely Automobile Holdings (HangZhou) Co.Ltd
Contact: Janet Chen
Email: [email protected]
Website: global.geely.com
Address: Hangzhou China

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4e4c09ec-9d82-4dee-bf10-fdf548ad790f

Reddit: Sustaining an Upward Revenue TrajectoryReddit (RDDT +0.78%) primarily generates revenue through the advertising on its website, which organizes digital communities based on specific interests, enabling users to engage in conversations.

While navigating the launch of a competing application from Meta in May of 2026, it reported 31% net income margin for the quarter ended March 31, 2026.

Snap: Steady Revenue Amid Ongoing ScrutinySnap (SNAP 0.93%) primarily earns revenue through advertising as well. It operates a camera application and connected eyewear that enable users to communicate visually through short videos and images.

It appointed a new board member in May 2026 and posted -6% net income margin for the quarter ended March 31, 2026.

Why Revenue Matters for Retail InvestorsRevenue serves as a fundamental indicator of how much money a business generates from its core operations before expenses are deducted. It enables investors to evaluate raw business growth and the demand for a company’s core offerings.

Image source: The Motley Fool.

Quarterly Revenue for Reddit and SnapQuarter (Period End)Reddit RevenueSnap RevenueQ2 2024 (June 2024)$281.2 million$1.2 billionQ3 2024 (Sept. 2024)$348.4 million$1.4 billionQ4 2024 (Dec. 2024)$427.7 million$1.6 billionQ1 2025 (March 2025)$392.4 million$1.4 billionQ2 2025 (June 2025)$499.6 million$1.3 billionQ3 2025 (Sept. 2025)$584.9 million$1.5 billionQ4 2025 (Dec. 2025)$725.6 million$1.7 billionQ1 2026 (March 2026)$663.4 million$1.5 billionData source: Company filings. Data as of May 28, 2026.

Foolish TakeReddit and Snap are two titans in the social media space, albeit addressing very different consumer needs. The former focuses on forums for people to discuss topics while the latter is known for its Snapchat texting and camera app. Looking at their revenue trends reveals key insights.

Although Snap possesses the higher sales totals, Reddit is growing faster. For instance, in the first quarter, Reddit’s revenue rose a whopping 69% year over year to $663.4 million. Snap’s Q1 sales grew 12% to $1.5 billion. This suggests Reddit’s offerings are proving popular.

Reddit’s superior sales growth helped it achieve net income of $204 million, an impressive 680% year-over-year jump. This kind of growth is what investors want to see. Meanwhile, Snap is not profitable, although it reduced its net loss by 36% year over year to $89 million in Q1.

Even so, Reddit shares have fallen far from the 52-week high of $282.95 reached in 2025. Part of that is due to Meta’s release of a competing product, which could cause Reddit’s sales to slow. Investors will want to keep an eye on whether its year-over-year revenue growth declines in the coming quarters.

Tech billionaires have shelled out hundreds of millions of dollars ahead of the 2 June primary election in California, in an unrivaled attempt to influence who gets to run the state that Silicon Valley calls home.

The industry has used a cover-all-bases approach, funding candidates and ballot measures big and small, contributing to what looks to be the most expensive primary season in California history. The goal, experts say, is to gain both political and regulatory leverage that will perpetuate dominance in business.

“This money is flowing in the direction of politicians that can be influential in defining the regulatory agenda for the next five years,” said Francesco Trebbi, a public policy professor at the University of California in Berkeley. “Reinforcing the cycle of economic power produces political power, and political power further establishes economic power. So, this cycle is ongoing.”

Combing through campaign finance filings with California’s secretary of state, the Guardian found:

Google co-founder Sergey Brin has spent $82m since January, more than any other donor, to fight a billionaire tax that’s up for a vote on the November ballot.

Democratic gubernatorial candidate Matt Mahan has received more donations than any other candidate, including from top executives at Google, Amazon, Snap, LinkedIn, Reddit and Palantir.

Crypto mogul Chris Larsen has funded three Super Pacs with $26m to sway campaigns across California, including giving $1m to back a primary candidate for state insurance commissioner.

Google and Meta have collectively funded a Super Pac with $10m to back assembly and senate candidates in local district races across the state.

Silicon Valley money is flowing toward city primaries as well as state-level ones, with tech-backed Pacs sponsoring voter guides suggesting how to vote on local tax measures.

For Silicon Valley, pouring money into politics at this moment is existential as it races to develop artificial intelligence. With favorable candidates in office, tech companies say they will be able to grow at a breakneck rate while avoiding stifling regulations.

The vast amount of spending that’s been disclosed in public records probably isn’t even the half of it, Trebbi said. People looking to sway election outcomes often fund dark money entities that aren’t traceable through campaign finance filings.

“These people are sophisticated political givers, so they will use both visible and invisible forms of influence,” Trebbi said. What we’re seeing now is “just the tip of the iceberg”.

Money-for-influence leaderboardThe influx of dollars has meant that voters from Oakland to Bakersfield to Orange county have been bombarded with TV ads, robotexts and mailers touting various issues and candidates sponsored by super political action committees (Super Pacs) funded by the tech industry.

Top spenders for these Super Pacs include billionaires Larsen and Brin. Larsen, the co-founder of crypto company Ripple Labs, is worth about $12bn and has spent millions on more than a dozen primary campaigns up and down the state, targeting races and issues at a city and county level, as well as bigger state-level races. Brin, worth about $290bn, has homed in on fighting a one-time 5% tax on the state’s billionaires up for a vote in November, the proceeds from which are intended to help cover education, food assistance and healthcare programs.

To date, Brin has donated at least $82m to a Super Pac dedicated to blocking the billionaire tax, according to campaign finance filings with the state. The most recent filing, released on Friday night, showed he contributed $16m in May, on top of the $66m he’d already given this year. The former Alphabet president also spent $500,000 in San Francisco last month to battle a city measure that seeks to expand a tax on high-paid CEOs, which is up for a vote on 2 June. These donations come even as Brin moved out of California late last year to Nevada.

Larsen and Brin did not respond to requests for comment.

Along with contributing millions to Super Pacs and candidates in California, the tech world is also spending eye-popping amounts on lobbying.

An analysis by the news site CalMatters found that in 2025 alone, the tech industry paid $39m to lobby the state government. That’s more than any year prior and surpasses what was spent by the oil and gas industry, which typically tops the high roller list. According to a Bloomberg analysis, the biggest tech and AI companies spent a collective $109m on federal lobbying in 2025; that their state lobbying in California is equivalent to 36% of their federal spend showcases the state’s importance to the tech industry.

Tech picks a favorite in the governor’s raceOf the 62 candidates listed on the 2 June primary ballot, one has stood out as the tech industry’s darling: Matt Mahan. The centrist Democrat and upstart mayor from San Jose, a large city in Silicon Valley, entered the race late and quickly made headlines as he racked up contributions from a who’s who of the tech industry.

Before Mahan got involved in politics in 2020, he had a career in the tech sector. He was an undergraduate at Harvard with the Facebook co-founder Mark Zuckerberg, and in 2014 co-founded a startup with funding from the Salesforce CEO, Marc Benioff, tech investor Ron Conway and Napster co-founder Sean Parker.

Since Mahan’s candidacy announcement in late January, he’s received nearly $50m in contributions, according to Politico – more than any other gubernatorial candidate (with the exception of Tom Steyer’s self-funded campaign of about $200m). Mahan has received donations from prominent venture capitalists, along with former and current executives from Google, Amazon, Snap, eBay, PayPal, Stripe, LinkedIn, DoorDash, Reddit, Netflix, Palantir, Anduril, Roblox, Riot Games and more, public records show.

Google’s Brin donated the maximum limit for an individual campaign donation at $78,400 and contributed $1m to the pro-Mahan Super Pac Deliver for California, according to public records. Mahan flew to Lake Tahoe where Brin lives in March to make a personal appeal to the billionaire and his conservative influencer girlfriend, the New York Times reported. Brin’s girlfriend, Gerelyn Gilbert-Soto, alleges that Mahan texted Brin afterwards to apologize for attending a No Kings rally.

Mahan’s overtures to both progressives and conservatives haven’t won him many friends among the state’s leading Democrats. The Silicon Valley congressman Ro Khanna chose Steyer to endorse and state assembly members from Mahan’s district have publicly criticized him, saying he was “handpicked” by the tech industry. Similarly, Lorena Gonzalez Fletcher, president of the powerful California Labor Federation, said Mahan was the only Democrat she was not promoting because she’s “opposed to the candidate funded by Trump’s big tech billionaires”.

Mahan said he had no plans to cater to special interests and his goal was for the system to work for everyone.

“I’m not running for tech, and if you look at my record – I’ve been in public office now for six years – I think you’d be hard pressed to find – you would not find a single example of me ever doing something to benefit the industry to the detriment of the community,” Mahan said. “If anything, I’ve fought hard to get them to do their fair share.”

The influx of tech cash into Mahan’s race hasn’t bolstered it as much as early predictions forecast. His campaign has failed to gain traction with a wider audience and polls have put him at just 4% of the vote. The Brin-funded Deliver for California Super Pac shuttered last month.

Mahan did not respond to further questions about his interactions with Brin or the termination of the Super Pac.

Targeting state and local primariesAlthough the tech industry has mostly focused on a sole candidate for the governor’s race, it has taken more of a scattershot approach in local campaigns. Silicon Valley money has infiltrated nearly every segment of politics – from local ballot measures to state congressional campaigns to the race for California’s new insurance commissioner.

The tech executive who appears most dedicated to local politics is Larsen, the crypto mogul. He’s funded Super Pacs aimed at different causes and candidates. The Golden State Promise Super Pac has received a total of $10m entirely from Larsen and Ripple Labs, public records show. The Pac, which is devoted to combating the billionaire tax that’s up for a vote in November, launched an attack ad against the tax earlier this month.

Another Super Pac supported by Larsen is geared toward the state’s insurance commissioner race. Earlier this month, Larsen donated more than $1m to the Super Pac, Californians for an Affordable Future, which is dedicated to electing Ben Allen, a Democrat. It’s a heated primary race with several candidates vying for the seat, including Bernie Sanders-backed Jane Kim, also a Democrat.

Larsen has spread his money across elections for California’s state legislature too, mostly through a Super Pac called Grow California. He’s donated $15m to the Super Pac, while crypto evangelist Tim Draper has contributed $5m, according to public records. Grow California’s stated goal is to “rebuild a state capital”.

Diagram of Chris Larsen’s political donations in CaliforniaThe Super Pac has injected hundreds of thousands of dollars into roughly a dozen state assembly and senate primaries across California. For example, Mark Pulido, who’s running for assembly in Orange county, has received more than $1.5m from Grow California. Likewise, a senate candidate in northern California’s Alameda County, Scott Sakakihara, has received more than $500,000 from the Super Pac.

“We have a group of people who are not acting in a pragmatic way. They’re not looking for balance. They’re completely fucking owned by one side,” Larsen told Politico, in reference to organized labor’s power in the legislature. “So we’re going to work on taking out those people who are not working for the people of California.”

Google and Meta have supported a similar Super Pac, California Leads, with $5m each and have distributed funds to several candidates in the Central valley, as well as to many of the same contenders as Grow California. According to public records, Pulido has received nearly $750,000 from California Leads. The Super Pac’s stated mission is “supporting leaders focused on California’s future”.

John Bennett, director of the advocacy organization California Initiative for Technology and Democracy, said spending upwards of $500,000 on a local district primary is a “huge sum of money”. He’s been studying the races and said the bulk of tech spending has gone to about a dozen open seats in the state legislature.

“They’ve been hyper-focused on those open seats, not going after incumbents this time around,” Bennett said. “So, it seems like they’re doing a long-term strategy to slowly turn the legislature to become more friendly to them.”

Other companies, like Airbnb and Uber, have also donated to local assembly and senate races across the state but with smaller contributions.

City campaigns are seeing a tech infusion too. Joe Lonsdale, a Palantir co-founder, contributed to former reality TV star and Los Angeles mayor hopeful Spencer Pratt – even though Lonsdale lives in Texas, records show. And several 501(c)(4) groups backed by Silicon Valley money have cropped up across the Bay Area sending out mailers and robotexts with voter guides that highlight preferred local candidates, along with suggestions to vote down issues like a union-backed parcel tax.

“Now they’re going at this from multiple fronts,” Bennett said. “They’re spending in elections, they’re spending in the legislature, and they’re trying to do whatever they can to ensure that they don’t lose their foothold in this economic system.”

Lauren Gambino contributed reporting

RDDT benefits from ad revenue, ARPU and advertiser growth as Shopify integration expands, but valuation, competition and macro headwinds cloud upside.

Reddit (RDDT) leverages its unique human-driven community and data as a powerful moat in an AI-dominated internet. RDDT's Q1 revenues surged 69% YoY to $663 million, with advertising up 74% and international user growth accelerating. The platform's data licensing business, though smaller, is positioned as a future growth driver as AI model training budgets expand.

Fidelity Global Innovators ETF offers active, high-conviction exposure to global innovation and tech themes, outperforming the NASDAQ Composite since inception. FINN:CA's flexible mandate enables differentiated top holdings like Amazon and AppLovin, capitalizing on AI, cloud, and monetization platform trends beyond standard tech benchmarks. Despite a higher 1.09% MER, FINN:CA's 35%+ annualized return and strong risk-adjusted metrics justify the active management premium for Canadian investors.

Reddit Inc. (RDDT - Free Report) closed the most recent trading day at $173.45, moving -5.69% from the previous trading session. This change lagged the S&P 500's 2.65% loss on the day. Meanwhile, the Dow lost 1.35%, and the Nasdaq, a tech-heavy index, lost 4.18%.

Shares of the company have appreciated by 12.17% over the course of the past month, outperforming the Computer and Technology sector's gain of 10.37%, and the S&P 500's gain of 5.47%.

The investment community will be paying close attention to the earnings performance of Reddit Inc. in its upcoming release. The company is expected to report EPS of $0.99, up 120% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $746.89 million, up 49.49% from the year-ago period.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $4.83 per share and revenue of $3.25 billion. These totals would mark changes of +84.35% and +47.64%, respectively, from last year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Reddit Inc. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.05% higher. As of now, Reddit Inc. holds a Zacks Rank of #3 (Hold).

Looking at valuation, Reddit Inc. is presently trading at a Forward P/E ratio of 38.05. This indicates a premium in contrast to its industry's Forward P/E of 18.84.

The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 82, finds itself in the top 34% echelons of all 250+ industries.

The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

“Buy Reddit very slowly, not aggressively,” he added.

Starwood Property Trust, Inc. (NYSE: STWD has not been a good stock, Cramer said.

UBS analyst Marissa Lobo, on June 2, upgraded Starwood Property Trust from Neutral to Buy and raised the price target from $19.5 to $20.

Cramer said Ralliant Corporation (NYSE:RAL) is a “good company, but it has gone parabolic.”

On the earnings front, Ralliant, on May 12, reported better-than-expected first-quarter financial results and raised its FY2026 adjusted EPS and FY2026 sales guidance above estimates.

When asked about Blue Owl Capital Corporation (NYSE:OBDC), he said, “I have not recommended anyone's business development company. I can't start doing it now.”

Blue Owl Capital, on May 6, posted weaker-than-expected results for the first quarter.

BorgWarner Inc (NYSE:BWA) has been an “absolute winner, but again it's another parabola stock,” Cramer noted.

Wells Fargo analyst Colin Langan, on June 2, maintained BorgWarner with an Overweight rating and raised the price target from $68 to $83.

Price Action Starwood Property Trust shares fell 0.2% to settle at $17.05 on Friday. Ralliant shares dipped 3.6% to close at $60.17. Borgwarner shares fell 5.7% to close at $72.63 on Friday. Blue Owl Capital shares slipped 2.5% to settle at $11.02. Reddit shares fell 5.7% to settle at $173.45. Photo via Shutterstock

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Reddit shares are powering higher. Why is RDDT stock up today? What Is Driving Reddit’s Stock Movement Today?The stock has been sensitive to rates after May's jobs report showed 172,000 payrolls added versus 80,000 expected, a surprise that pushed the 10-year yield above 4.5% and weighed on high-multiple growth valuations. Separately, Reddit was passed over for S&P 500 inclusion in the latest rebalance, disappointing investors who had been positioning for forced passive-fund buying.

Reddit is also holding its Annual General Meeting today, with investors listening for updates on user growth and the status of AI licensing renewals with Google (NASDAQ:GOOGL) and OpenAI.

Critical Price Levels To Watch For RDDTMomentum is improving: MACD is above its signal line and the histogram is positive, which typically signals that downside pressure is easing and buyers are gaining traction versus the prior downswing. In plain English, MACD compares two moving averages, and being above the signal line suggests momentum is shifting in favor of the bulls rather than accelerating lower.

From a level standpoint, bulls generally want to see price hold above nearby support and then work back toward the longer-term trend line overhead, especially after the recent swing low in March and swing high in June.

Key Resistance: $213.00 — a nearby round-number/pivot area where rebounds can stall Key Support: $178.00 — a nearby pivot zone close to current price where buyers previously stepped in What Is Reddit And How Does It Make Money?Reddit is a social media platform where users can engage in conversations, explore, and create communities centered around their interests. Founded in 2005 by Steve Huffman and Alexis Ohanian, Reddit has evolved into a vast network of user-generated content organized into specialized forums known as "subreddits."

Its community-driven model relies on volunteer moderators, and the business is primarily monetized through advertising plus data licensing agreements. That licensing angle is central to the current debate, because renewals tied to AI training data can move the revenue narrative quickly, while user growth trends still matter for the ad engine and overall sentiment.

Reddit’s Benzinga Edge Rankings ExplainedBelow is the Benzinga Edge scorecard for Reddit, highlighting its strengths and weaknesses compared to the broader market:

The Verdict: Reddit’s Benzinga Edge signal reveals a growth-led profile with only moderate momentum and a clear valuation headwind. For longer-term bulls, the setup tends to work best when price can reclaim the 200-day moving average and fundamentals keep validating that premium multiple.

RDDT Stock Price Activity UpdateRDDT Stock Price Activity: Reddit shares were up 4.14% at $178.21 at the time of publication on Tuesday, according to Benzinga Pro data.

Image: Shutterstock

Market News and Data brought to you by Benzinga APIs

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

To add Benzinga News as your preferred source on Google, click here.

Reddit Inc. (RDDT - Free Report) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.

Over the past month, shares of this company have returned +11.7%, compared to the Zacks S&P 500 composite's -1.6% change. During this period, the Zacks Internet - Software industry, which Reddit Inc. falls in, has lost 1.1%. The key question now is: What could be the stock's future direction?

While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.

Revisions to Earnings EstimatesRather than focusing on anything else, we at Zacks prioritize evaluating the change in a company's earnings projection. This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings.

Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.

For the current quarter, Reddit Inc. is expected to post earnings of $0.99 per share, indicating a change of +120% from the year-ago quarter. The Zacks Consensus Estimate has changed +1.8% over the last 30 days.

For the current fiscal year, the consensus earnings estimate of $4.83 points to a change of +84.4% from the prior year. Over the last 30 days, this estimate has changed +1.1%.

For the next fiscal year, the consensus earnings estimate of $6.39 indicates a change of +32.2% from what Reddit Inc. is expected to report a year ago. Over the past month, the estimate has changed +0.6%.

With an impressive externally audited track record, our proprietary stock rating tool -- the Zacks Rank -- is a more conclusive indicator of a stock's near-term price performance, as it effectively harnesses the power of earnings estimate revisions. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #3 (Hold) for Reddit Inc..

The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:

12 Month EPS

Projected Revenue GrowthEven though a company's earnings growth is arguably the best indicator of its financial health, nothing much happens if it cannot raise its revenues. It's almost impossible for a company to grow its earnings without growing its revenue for long periods. Therefore, knowing a company's potential revenue growth is crucial.

For Reddit Inc., the consensus sales estimate for the current quarter of $746.89 million indicates a year-over-year change of +49.5%. For the current and next fiscal years, $3.25 billion and $4.31 billion estimates indicate +47.6% and +32.5% changes, respectively.

Last Reported Results and Surprise HistoryReddit Inc. reported revenues of $663.41 million in the last reported quarter, representing a year-over-year change of +69.1%. EPS of $1.01 for the same period compares with $0.13 a year ago.

Compared to the Zacks Consensus Estimate of $614.09 million, the reported revenues represent a surprise of +8.03%. The EPS surprise was +62.9%.

The company beat consensus EPS estimates in each of the trailing four quarters. The company topped consensus revenue estimates each time over this period.

ValuationWithout considering a stock's valuation, no investment decision can be efficient. In predicting a stock's future price performance, it's crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company's growth prospects.

Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is.

As part of the Zacks Style Scores system, the Zacks Value Style Score (which evaluates both traditional and unconventional valuation metrics) organizes stocks into five groups ranging from A to F (A is better than B; B is better than C; and so on), making it helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.

Reddit Inc. is graded F on this front, indicating that it is trading at a premium to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.

Bottom LineThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Reddit Inc.. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.

Key Takeaways RDDT's international revenue surged 76% in Q1 2026, ahead of 67% U.S. revenue growth. RDDT's international DAUq rose 26% to 73.3M, while international ARPU climbed 51% to $2.02. RDDT expanded content to 30 languages and sees Q2 2026 revenues of $715M-$725M. Reddit (RDDT - Free Report) is benefiting from a robust international expansion strategy that is fueling both its financial performance and long-term growth prospects. In the first quarter of 2026, international revenues surged 76% year over year, outpacing the already strong 67% growth in U.S. revenues.

In the first quarter of 2026, International ARPU increased 51% year over year to $2.02, signaling improving monetization intensity across regions. The platform’s international daily active unique users grew 26% year over year to 73.3 million. These metrics highlight Reddit’s ability to attract and engage users outside the United States, which is critical for its advertising revenue.

One of the key drivers behind this international momentum is Reddit's investment in machine translation, which has enabled the platform to support content in more than 30 languages, helping to build local communities and increase engagement outside the United States. The company is also investing in features like bot verification, improved onboarding and faster app performance to enhance user experience.  The adoption of advanced ad products like Reddit Max and Dynamic Product Ads is helping advertisers achieve strong returns, further encouraging global brands to invest in Reddit’s platform.

Reddit’s international strategy is also supported by a growing sales footprint, with direct sales teams now operating in Canada, the U.K., Continental Europe and Australia, as well as channel partners covering additional regions.

RDDT’s expanding international portfolio and rising user engagement are expected to drive the company’s top-line growth. For the second quarter of 2026, management expects revenues to be in the range of $715 million to $725 million.

RDDT Faces Stiff CompetitionRDDT is facing stiff competition from competitors like Pinterest (PINS - Free Report) and Snap (SNAP - Free Report) . Both Pinterest and Snap are also expanding their global footprint to compete in the rapidly growing digital ad market.

Pinterest continues to expand monetization opportunities across international markets through deeper advertiser penetration and broader go-to-market initiatives. First-quarter 2026 revenues from Europe increased 27% year over year, while Rest of World revenues surged 59%. Global MAUs increased 11% to a record 631 million.

SNAP is benefiting from strong international expansion, as evidenced by its global monthly active users reaching 956 million in the first quarter of 2026, up 5% year over year, and Global Daily Active Users grew to 483 million or 5% year over year.

RDDT’s Share Price Performance, Valuation, and EstimatesRDDT shares have plunged 25.1% in the year-to-date period, underperforming the broader Zacks Computer & Technology sector's increase of 13.1% and the Internet - Software industry’s decline of 14.1%.

RDDT Stock Performance
Image Source: Zacks Investment Research

RDDT shares are overvalued, with a forward 12-month Price/Sales of 8.91X compared with the Computer & Technology sector’s 6.55X. RDDT has a Value Score of F.

RDDT Valuation
Image Source: Zacks Investment Research

The Zacks Consensus Estimate for 2026 earnings is pegged at $4.83 per share, which has increased 1% over the past 30 days. This suggests 84.35% year-over-year growth.

RDDT currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Eight of the portfolio's 11 equity sectors made a positive impact on calendar year performance, led by Industrials, Materials, and Financials. nLIGHT differentiates itself via vertical integration, domain knowledge, and manufacturing capabilities to deliver cutting edge solutions, increasingly to government and defense organizations. Shares of Sprott outperformed as gold prices broke out to record highs amid elevated geopolitical risk, central bank buying, and a weaker U.S. dollar.

Ichor Holdings has underperformed peers in the current semiconductor cycle, particularly in high bandwidth and AI-driven demand. Recent commentary from ASML and other market leaders suggest semiconductor equipment WFE demand will broaden 15-20% in 2026, benefitting Ichor. ICHR's lagging performance has set up a snapback opportunity as the semiconductor bull market continues.

Posted by Defense World Staff on Apr 4th, 2026

JPMorgan Chase & Co. cut its stake in Ichor Holdings, Ltd. (NASDAQ:ICHR – Free Report) by 66.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 237,863 shares of the technology company’s stock after selling 461,648 shares during the period. JPMorgan Chase & Co. owned about 0.69% of Ichor worth $4,167,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Barrow Hanley Mewhinney & Strauss LLC raised its position in Ichor by 497.2% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,698,239 shares of the technology company’s stock valued at $29,753,000 after purchasing an additional 1,413,870 shares in the last quarter. Millennium Management LLC grew its position in shares of Ichor by 1,710.7% during the third quarter. Millennium Management LLC now owns 855,011 shares of the technology company’s stock worth $14,980,000 after buying an additional 807,792 shares in the last quarter. Invesco Ltd. increased its stake in shares of Ichor by 61.8% during the third quarter. Invesco Ltd. now owns 1,253,457 shares of the technology company’s stock worth $21,961,000 after buying an additional 478,952 shares during the period. Ameriprise Financial Inc. raised its holdings in Ichor by 231.3% in the second quarter. Ameriprise Financial Inc. now owns 393,371 shares of the technology company’s stock valued at $7,726,000 after acquiring an additional 274,633 shares in the last quarter. Finally, Alliancebernstein L.P. raised its holdings in Ichor by 42.0% in the second quarter. Alliancebernstein L.P. now owns 796,891 shares of the technology company’s stock valued at $15,651,000 after acquiring an additional 235,667 shares in the last quarter. Hedge funds and other institutional investors own 94.81% of the company’s stock.

Insiders Place Their Bets In related news, CEO Philip Ryan Sr. Barros sold 21,000 shares of the stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $46.63, for a total value of $979,230.00. Following the transaction, the chief executive officer directly owned 153,936 shares of the company’s stock, valued at $7,178,035.68. This trade represents a 12.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Thomas M. Rohrs sold 53,908 shares of Ichor stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $45.48, for a total transaction of $2,451,735.84. Following the sale, the director owned 53,024 shares in the company, valued at $2,411,531.52. This represents a 50.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 120,259 shares of company stock worth $5,689,250. 1.90% of the stock is currently owned by company insiders.

Ichor Stock Performance Shares of Ichor stock opened at $48.12 on Friday. The company has a quick ratio of 1.38, a current ratio of 3.16 and a debt-to-equity ratio of 0.18. Ichor Holdings, Ltd. has a 52 week low of $13.12 and a 52 week high of $55.33. The firm’s 50 day moving average is $43.26 and its two-hundred day moving average is $27.96. The firm has a market capitalization of $1.67 billion, a P/E ratio of -31.25 and a beta of 1.67.

Wall Street Analyst Weigh In Several research analysts have commented on the stock. Craig Hallum reiterated a “buy” rating and set a $36.00 price target on shares of Ichor in a report on Wednesday, January 14th. Wall Street Zen raised shares of Ichor from a “strong sell” rating to a “hold” rating in a research report on Sunday, February 15th. Needham & Company LLC boosted their target price on shares of Ichor from $36.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, February 10th. DA Davidson raised their price target on Ichor from $30.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Finally, B. Riley Financial upgraded Ichor from a “neutral” rating to a “buy” rating in a research note on Tuesday, February 10th. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Ichor presently has a consensus rating of “Moderate Buy” and an average target price of $43.14.

Check Out Our Latest Stock Analysis on Ichor

Ichor Company Profile (Free Report)

Ichor Holdings Ltd. is a global supplier of critical subsystems used in the fabrication of semiconductor devices. The company specializes in the design, engineering and manufacturing of gas delivery systems, vacuum pumps and abatement solutions that manage process gases and by-products in wafer-processing tools. Its modular subsystems are designed to integrate with lithography, etch, deposition and cleaning equipment, helping to ensure precise control of gas flow, pressure and purity throughout the chip-manufacturing cycle.

Founded in the mid-1980s and headquartered in Fremont, California, Ichor has expanded its footprint across Asia, Europe and North America.

Featured Stories Five stocks we like better than Ichor Want to see what other hedge funds are holding ICHR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ichor Holdings, Ltd. (NASDAQ:ICHR – Free Report).

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Small-cap stocks have outperformed amid a rotation away from mega caps, despite geopolitical uncertainty and shifting interest rate expectations. Small-cap firms may benefit from the next phase of AI adoption as productivity gains broaden across industries. Wells Fargo estimates that each 1% reduction in labor costs could translate into a 6.1% earnings increase for Russell 2000 companies.

Key Takeaways Ichor shares surged 206.2% in six months, outperforming the semiconductor equipment industry.Ichor is riding a rebound in WFE spending driven by demand for AI, HBM and advanced packaging.Ichor is expanding in Malaysia and Mexico and tightening costs to strengthen operating leverage. Ichor Holdings, Ltd. (ICHR - Free Report) shares skyrocketed 206.2% over the past six months, outperforming the broader semiconductor equipment industry. The rally has been largely fueled by a rebound in wafer fabrication equipment (WFE) spending, driven by strong demand in artificial intelligence (AI), high-bandwidth memory (HBM) and advanced packaging. As chipmakers accelerate investments to support next-generation technologies, Ichor is likely to benefit from being a leading provider of fluid delivery subsystems.

Six-Month ICHR Stock Price Performance

Image Source: Zacks Investment Research

ICHR Buoyed By Strong Earnings MomentumA key catalyst behind the stock’s surge has been its improving earnings profile. Ichor reported better-than-expected quarterly results, coupled with optimistic guidance, indicating a turnaround from earlier weakness. Healthy revenue growth, supported by improving order trends and better demand visibility from customers, has strengthened investor confidence. This positive earnings momentum, along with a supportive industry backdrop, has resulted in multiple expansions and sharp earnings estimate revisions.

Image Source: Zacks Investment Research

ICHR Outpaces Peers on Higher Operating LeverageWhen compared with peers like Ultra Clean Holdings Inc. (UCTT - Free Report) , Cohu Inc. (COHU - Free Report) and Advanced Energy Industries Inc. (AEIS - Free Report) , Ichor stands out due to its higher sensitivity to semiconductor capital spending cycles. While larger players offer relatively stable growth, ICHR’s higher operating leverage allows it to generate outsized gains during industry upcycles. This dynamic has enabled the company to outperform several mid-cap rivals during the current recovery phase.

Cost Optimization, Niche Focus Aid ICHRIchor’s strategy focuses on enhancing its cost structure and expanding its global manufacturing footprint, particularly in lower-cost regions such as Malaysia and Mexico. Its specialized expertise in fluid delivery subsystems, which are critical components in semiconductor manufacturing, ensures strong customer relationships and recurring demand. This combination of cyclical tailwinds, disciplined execution and strategic positioning has been instrumental in driving ICHR’s stellar performance and underscores its appeal as a leveraged play on the semiconductor equipment upcycle.

Ichor currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the "long context," investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.

Even though momentum is a popular stock characteristic, it can be tough to define. Debate surrounding which are the best and worst metrics to focus on is lengthy, but the Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.

Below, we take a look at Ichor Holdings (ICHR - Free Report) , a company that currently holds a Momentum Style Score of A. We also talk about price change and earnings estimate revisions, two of the main aspects of the Momentum Style Score.

It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Ichor Holdings currently has a Zacks Rank of #2 (Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of "A or B" outperform the market over the following one-month period.

You can see the current list of Zacks #1 Rank Stocks here >>>

Set to Beat the Market?Let's discuss some of the components of the Momentum Style Score for ICHR that show why this company shows promise as a solid momentum pick.

A good momentum benchmark for a stock is to look at its short-term price activity, as this can reflect both current interest and if buyers or sellers currently have the upper hand. It's also helpful to compare a security to its industry; this can show investors the best companies in a particular area.

For ICHR, shares are up 14.35% over the past week while the Zacks Electronics - Semiconductors industry is up 10.33% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 26.14% compares favorably with the industry's 18.83% performance as well.

Considering longer term price metrics, like performance over the last three months or year, can be advantageous as well. Over the past quarter, shares of Ichor Holdings have risen 108.13%, and are up 266.17% in the last year. In comparison, the S&P 500 has only moved 3.01% and 38.52%, respectively.

Investors should also pay attention to ICHR's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. ICHR is currently averaging 628,172 shares for the last 20 days.

Earnings OutlookThe Zacks Momentum Style Score also takes into account trends in estimate revisions, in addition to price changes. Please note that estimate revision trends remain at the core of Zacks Rank as well. A nice path here can help show promise, and we have recently been seeing that with ICHR.

Over the past two months, 1 earnings estimate moved higher compared to none lower for the full year. This revision helped boost ICHR's consensus estimate, increasing from $1.11 to $1.15 in the past 60 days. Looking at the next fiscal year, 1 estimate has moved upwards while there have been no downward revisions in the same time period.

Bottom LineTaking into account all of these elements, it should come as no surprise that ICHR is a #2 (Buy) stock with a Momentum Score of A. If you've been searching for a fresh pick that's set to rise in the near-term, make sure to keep Ichor Holdings on your short list.

FREMONT, Calif.--(BUSINESS WIRE)--Ichor Holdings, Ltd. (NASDAQ: ICHR), a leader in the design, engineering, and manufacturing of critical fluid delivery subsystems and components for semiconductor capital equipment, today announced first quarter 2026 financial results.

First quarter 2026 highlights:

Revenue of $256.1 million, above the mid-point of our guidance range communicated in February; Gross margin of 12.6% on a GAAP basis and 12.8% on a non-GAAP basis; and Earnings (loss) per share of $(0.07) on a GAAP basis and $0.15 on a non-GAAP basis. “Within a strengthening demand environment, we are pleased to report Q1 results at the upper end of our expectations for revenues, gross margin, and earnings per share due to strong operational execution by our team,” commented Phil Barros, Ichor’s CEO. “Revenues of $256 million increased 15% sequentially, a strong start to what we expect will be a sustained industry upcycle driven by structural technology transitions and strategic capacity investments in wafer fabrication equipment. The early investments we made in ramping labor headcount and pre-positioning inventory are enabling Ichor to deliver strong execution for our customers and achieve revenue growth toward the high end of our demand forecast. With customer delivery timelines accelerating, our outlook for the second quarter reflects our expectation for another strong quarter of sequential improvement spanning revenues, gross margin, and earnings per share. We continue to drive the strategic, operational and technological priorities for Ichor that we expect will enable continued gross margin expansion and significant earnings leverage as revenues ramp through the year, and into 2027.”

Q1 2026

Q4 2025

Q1 2025

(dollars in thousands, except per share amounts)

U.S. GAAP Financial Results:

Net sales

$

256,068

$

223,606

$

244,465

Gross margin

12.6

%

9.4

%

11.7

%

Operating margin

0.8

%

(6.2

)%

(0.5

)%

Net loss

$

(2,469

)

$

(15,961

)

$

(4,559

)

Diluted EPS

$

(0.07

)

$

(0.46

)

$

(0.13

)

Q1 2026

Q4 2025

Q1 2025

(dollars in thousands, except per share amounts)

Non-GAAP Financial Results:

Gross margin

12.8

%

11.7

%

12.4

%

Operating margin

3.4

%

1.2

%

2.7

%

Net income

$

5,287

$

280

$

4,236

Diluted EPS

$

0.15

$

0.01

$

0.12

For the first quarter of 2026, revenue was $256.1 million, net loss was $(2.5) million, and net loss per diluted share (“diluted EPS”) was $(0.07). This compares to revenue of $223.6 million and $244.5 million, net loss of $(16.0) million and $(4.6) million, and diluted EPS of $(0.46) and $(0.13), for the fourth quarter of 2025 and first quarter of 2025, respectively.

For the first quarter of 2026, non-GAAP net income was $5.3 million and non-GAAP diluted EPS was $0.15. This compares to non-GAAP net income of $0.3 million and $4.2 million, and non-GAAP diluted EPS of $0.01 and $0.12, for the fourth quarter of 2025 and first quarter of 2025, respectively.

For the second quarter of 2026, we expect the following:

Low-End

Mid-Point

High-End

Revenue

$290 million

$300 million

$310 million

GAAP diluted EPS

$0.10

$0.15

$0.20

Non-GAAP diluted EPS

$0.25

$0.30

$0.35

This outlook for non‑GAAP diluted EPS excludes amortization of intangible assets of approximately $1.9 million and share-based compensation expense of approximately $4.4 million, as well as the related income tax effects. Non-GAAP diluted EPS should be considered in addition to, but not as a substitute for, our financial information presented in accordance with GAAP.

We ended the first quarter of 2026 with cash and cash equivalents of $89.1 million, a decrease of $9.2 million from the prior year ended December 26, 2025. The decrease of $9.2 million for the first quarter of 2026 was primarily due to capital expenditures of $7.1 million and cash used in operating activities of $2.9 million.

Our cash used in operating activities of $2.9 million for the first quarter of 2026 consisted of an increase in our net operating assets and liabilities of $12.7 million and a net loss of $2.5 million, partially offset by non-cash charges of $12.2 million, consisting primarily of depreciation and amortization of $7.7 million and share-based compensation expense of $3.8 million.

The increase in our net operating assets and liabilities of $12.7 million during the first quarter of 2026 was primarily due to an increase in accounts receivable of $22.6 million and an increase in inventory of $20.5 million, partially offset by an increase in accounts payable of $27.4 million, and a decrease in prepaid expenses and other assets of $2.9 million.

In addition to U.S. GAAP ("GAAP") results, this press release also contains non-GAAP financial results, including non‑GAAP gross profit, non‑GAAP operating income, non‑GAAP net income (loss), non‑GAAP diluted EPS, and free cash flow. Management uses non-GAAP metrics to evaluate our operating and financial results. We believe the presentation of non-GAAP results is useful to investors for analyzing business trends and comparing performance to prior periods, along with enhancing investors’ ability to view our results from management’s perspective. Non-GAAP gross profit, operating income, and net income are defined as: gross profit, operating income (loss), or net income (loss), respectively, excluding (1) amortization of intangible assets, share-based compensation expense, and discrete or infrequent charges and gains that are outside of normal business operations, including transaction-related costs, contract and legal settlement gains and losses, facility shutdown costs, inventory impairment charges, and severance costs associated with reduction-in-force programs, to the extent they are present in gross profit, operating income (loss), and net income (loss), respectively; and (2) the tax impacts associated with these non-GAAP adjustments, as well as non-recurring discrete tax items, including the impact of deferred tax asset valuation allowances. All non-GAAP adjustments are presented on a gross basis; the related income tax effects, including current and deferred income tax expense, are included in the adjustment line under the heading "Tax adjustments related to non-GAAP adjustments." Non-GAAP diluted EPS is defined as non-GAAP net income divided by weighted average diluted ordinary shares outstanding during the period. Non-GAAP gross margin and non-GAAP operating margin are defined as non-GAAP gross profit and non-GAAP operating income, respectively, divided by net sales. Free cash flow is defined as cash provided by or used in operating activities, less capital expenditures. Tables showing these metrics on a GAAP and non-GAAP basis, with reconciliation footnotes thereto, are included at the end of this press release.

Non-GAAP results have limitations as analytical tools, and you should not consider them in isolation or as substitutes for our results reported under GAAP. Other companies may calculate non-GAAP results differently or may use other measures to evaluate their performance, both of which could reduce the usefulness of our non-GAAP results as tools for comparison.

Because of these limitations, you should consider non-GAAP results alongside other financial performance measures and results presented in accordance with GAAP. In addition, in evaluating non-GAAP results, you should be aware that in the future we will incur expenses such as those that are the subject of adjustments in deriving non-GAAP results, and you should not infer from our presentation of non-GAAP results that our future results will not be affected by these expenses or other discrete or infrequent charges and gains that are outside of normal business operations.

We will conduct a conference call to discuss our first quarter 2026 results and business outlook today at 1:30 p.m. PT.

To listen to a live webcast of the call, please visit our investor relations website at https://ir.ichorsystems.com, or go to the live link at https://www.webcast-eqs.com/login/ichor_q12026.

To listen via telephone, please call (877) 407‑0989 (domestic) or +1 (201) 389‑0921 (international), conference ID: 13759474. After the call, an on-demand replay will be available at the same webcast link.

We are a leader in the design, engineering and manufacturing of critical fluid delivery subsystems and components primarily for semiconductor capital equipment, as well as other industries such as defense/aerospace and medical. Our primary product offerings include gas and chemical delivery subsystems, collectively known as fluid delivery subsystems, which are key elements of the process tools used in the manufacturing of semiconductor devices. Our gas delivery subsystems deliver, monitor and control precise quantities of the specialized gases used in semiconductor manufacturing processes such as etch and deposition. Our chemical delivery subsystems precisely blend and dispense the reactive liquid chemistries used in semiconductor manufacturing processes such as chemical-mechanical planarization, electroplating, and cleaning. We also provide precision-machined components, weldments, e-beam and laser welded components, precision vacuum and hydrogen brazing, surface treatment technologies, and other proprietary products. We are headquartered in Fremont, CA. https://ir.ichorsystems.com.

We use a 52- or 53-week fiscal year ending on the last Friday in December. The three-month periods ended March 27, 2026, December 26, 2025, and March 28, 2025 were each 13 weeks. References to the first quarter of 2026, fourth quarter of 2025, and first quarter of 2025 relate to the three-month periods then ended. Our fiscal years ended December 25, 2026 and December 26, 2025 are each 52 weeks. References to 2026 and 2025 relate to the fiscal years then ended.

Certain statements in this release are “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words “anticipate,” “believe,” “contemplate,” “designed,” “estimate,” “expect,” “forecast,” “goal,” “guidance,” “intend,” “may,” “outlook,” “plan,” “predict,” “project,” “see,” “seek,” “target,” “would” and similar expressions or variations or negatives of these words are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Examples of forward-looking statements include, but are not limited to, statements regarding our outlook for our second fiscal quarter of 2026 and beyond, statements regarding the current business environment, revenue levels in 2026 and beyond, manufacturers’ investment in wafer fabrication equipment, our investment in research and development of new products, acquiring new business, and company and industry growth and performance in 2026 and beyond, as well as any other statement that does not directly relate to any historical fact. Such forward-looking statements are based on management’s current expectations about future events as of the date hereof and involve many risks and uncertainties that could cause our actual results to differ materially from those expressed or implied in our forward-looking statements. Our actual results and outcomes could differ materially from those included in these forward-looking statements as a result of various factors, including, but not limited to: geopolitical, economic and market conditions, including high inflation, changes to tax, trade, fiscal and monetary policy, high interest rates, currency fluctuations, challenges in the supply chain and any disruptions in the global economy as a result of the conflicts in Ukraine and the Middle East; being unable to attract, hire, integrate and retain key personnel and other necessary employees; dependence on expenditures by manufacturers and cyclical downturns in the semiconductor capital equipment industry; reliance on a very small number of original equipment manufacturers ("OEMs") for a significant portion of sales; negotiating leverage held by our customers; competitiveness and rapid evolution of the industries in which we participate; keeping pace with developments in the industries we serve and with technological innovation generally; designing, developing and introducing new products that are accepted by OEMs in order to retain our existing customers and obtain new customers; becoming involved in litigation and regulatory proceedings, which could require significant attention from our management and result in significant expense to us and disruptions in our business; managing our manufacturing and procurement process effectively; defects in our products that could damage our reputation, decrease market acceptance and result in potentially costly litigation; and our dependence on a limited number of suppliers. Additional information concerning these and other factors can be found in our filings with the Securities and Exchange Commission (the “SEC”), including other risks, relevant factors, and uncertainties identified in the "Risk Factors" section of our Annual Report on Form 10‑K for the year ended December 26, 2025 and any other periodic reports that we may file with the SEC.

All forward-looking statements in this press release are based upon information available to us as of the date hereof, and qualified in their entirety by this cautionary statement. We undertake no obligation to update or revise any forward-looking statements contained herein, whether as a result of actual results, changes in our expectations, future events or developments, or otherwise, except as required by law.

  ICHOR HOLDINGS, LTD.

Consolidated Balance Sheets

(in thousands, except share and per share amounts)

(unaudited)

  March 27,
2026

December 26,
2025

March 28,
2025

Assets

Current assets:

Cash and cash equivalents

$

89,089

$

98,290

$

109,281

Accounts receivable, net

93,067

70,514

79,859

Inventories

252,299

231,794

263,454

Prepaid expenses and other current assets

7,639

9,531

7,240

Total current assets

442,094

410,129

459,834

Property and equipment, net

103,551

103,922

103,372

Operating lease right-of-use assets

35,126

35,046

42,232

Other noncurrent assets

13,664

13,638

15,066

Deferred tax assets, net

4,338

4,337

4,069

Intangible assets, net

38,327

40,405

46,638

Goodwill

335,402

335,402

335,402

Total assets

$

972,502

$

942,879

$

1,006,613

Liabilities and Shareholders’ Equity

Current liabilities:

Accounts payable

$

108,175

$

84,007

$

102,532

Accrued liabilities

16,528

17,479

17,326

Other current liabilities

13,516

10,602

10,149

Current portion of long-term debt

6,250

6,250

7,500

Current portion of lease liabilities

12,203

11,250

11,409

Total current liabilities

156,672

129,588

148,916

Long-term debt, less current portion, net

115,793

117,278

119,264

Lease liabilities, less current portion

24,419

25,413

31,632

Deferred tax liabilities, net

2,627

1,961

1,555

Other non-current liabilities

4,977

4,753

4,885

Total liabilities

304,488

278,993

306,252

Shareholders’ equity:

Preferred shares ($0.0001 par value; 20,000,000 shares authorized; zero shares issued and outstanding)

—

—

—

Ordinary shares ($0.0001 par value; 200,000,000 shares authorized; 34,744,772, 34,433,776, and 34,113,204 shares outstanding, respectively; 39,182,211, 38,871,215, and 38,550,643 shares issued, respectively)

3

3

3

Additional paid in capital

630,988

624,391

612,644

Treasury shares at cost (4,437,439 shares)

(91,578

)

(91,578

)

(91,578

)

Retained earnings

128,601

131,070

179,292

Total shareholders’ equity

668,014

663,886

700,361

Total liabilities and shareholders’ equity

$

972,502

$

942,879

$

1,006,613

  ICHOR HOLDINGS, LTD.

Consolidated Statement of Operations

(in thousands, except share and per share amounts)

(unaudited)

Three Months Ended

March 27,
2026

December 26,
2025

March 28,
2025

Net sales

$

256,068

$

223,606

$

244,465

Cost of sales

223,810

202,624

215,943

Gross profit

32,258

20,982

28,522

Operating expenses:

Research and development

5,530

5,604

5,874

Selling, general, and administrative

22,565

27,135

21,742

Amortization of intangible assets

2,078

2,078

2,078

Total operating expenses

30,173

34,817

29,694

Operating income (loss)

2,085

(13,835

)

(1,172

)

Interest expense, net

1,678

1,686

1,646

Other expense, net

323

308

81

Income (loss) before income taxes

84

(15,829

)

(2,899

)

Income tax expense

2,553

132

1,660

Net loss

$

(2,469

)

$

(15,961

)

$

(4,559

)

Net loss per share:

Basic

$

(0.07

)

$

(0.46

)

$

(0.13

)

Diluted

$

(0.07

)

$

(0.46

)

$

(0.13

)

Shares used to compute net loss per share:

Basic

34,607,033

34,404,875

33,998,364

Diluted

34,607,033

34,404,875

33,998,364

  ICHOR HOLDINGS, LTD.

Consolidated Statements of Cash Flows

(in thousands) (unaudited)

Three Months Ended

March 27,
2026

December 26,
2025

March 28,
2025

Cash flows from operating activities:

Net loss

$

(2,469

)

$

(15,961

)

$

(4,559

)

Adjustments to reconcile net loss to net cash provided by (used in) operating activities:

Depreciation and amortization

7,654

10,044

8,058

Impairment of inventory

—

3,098

—

Share-based compensation

3,833

4,157

4,123

Impairment of lease right-of-use assets

—

507

—

Deferred income taxes

665

(1,815

)

247

Amortization of debt issuance costs

78

77

116

Changes in operating assets and liabilities, net of acquisitions:

Accounts receivable, net

(22,553

)

13,886

6,760

Inventories

(20,505

)

6,788

(13,352

)

Prepaid expenses and other assets

2,856

300

2,837

Accounts payable

27,382

(8,252

)

14,307

Accrued liabilities

(531

)

(1,192

)

1,804

Other liabilities

673

(2,467

)

(1,364

)

Net cash provided by (used in) operating activities

(2,917

)

9,170

18,977

Cash flows from investing activities:

Capital expenditures

(7,065

)

(3,249

)

(18,481

)

Net cash used in investing activities

(7,065

)

(3,249

)

(18,481

)

Cash flows from financing activities:

Issuance of ordinary shares under share-based compensation plans

4,766

356

4,004

Employees' taxes paid upon vesting of restricted share units

(2,422

)

(487

)

(2,013

)

Repayments on term loan

(1,563

)

—

(1,875

)

Net cash provided by (used in) financing activities

781

(131

)

116

Net increase (decrease) in cash

(9,201

)

5,790

612

Cash at beginning of period

98,290

92,500

108,669

Cash at end of period

$

89,089

$

98,290

$

109,281

Supplemental disclosures of cash flow information:

Cash paid during the period for interest

$

1,959

$

1,386

$

2,251

Cash paid during the period for taxes, net of refunds

$

(686

)

$

1,125

$

560

Supplemental disclosures of non-cash activities:

Capital expenditures included in accounts payable

$

412

$

3,626

$

1,467

Right-of-use assets obtained in exchange for new operating lease liabilities

$

2,424

$

—

$

—

  ICHOR HOLDINGS, LTD.

Reconciliation of U.S. GAAP Gross Profit to Non-GAAP Gross Profit

(dollars in thousands)

(unaudited)

Three Months Ended

March 27,
2026

December 26,
2025

March 28,
2025

U.S. GAAP gross profit

$

32,258

$

20,982

$

28,522

Non-GAAP adjustments:

Share-based compensation

545

602

707

Restructuring plan costs (1)

—

3,998

—

Facility shutdown costs (2)

—

496

304

Other (3)

—

—

783

Non-GAAP gross profit

$

32,803

$

26,078

$

30,316

U.S. GAAP gross margin

12.6

%

9.4

%

11.7

%

Non-GAAP gross margin

12.8

%

11.7

%

12.4

%

ICHOR HOLDINGS, LTD.

Reconciliation of U.S. GAAP Operating Income (Loss) to Non-GAAP Operating Income

(dollars in thousands)

(unaudited)

Three Months Ended

March 27,
2026

December 26,
2025

March 28,
2025

U.S. GAAP operating income (loss)

$

2,085

$

(13,835

)

$

(1,172

)

Non-GAAP adjustments:

Share-based compensation

3,833

4,157

4,123

Amortization of intangible assets

2,078

2,078

2,078

Restructuring plan costs (1)

549

9,058

—

Facility shutdown costs (2)

114

1,220

592

Other (3)

—

—

954

Non-GAAP operating income

$

8,659

$

2,678

$

6,575

U.S. GAAP operating margin

0.8

%

(6.2

)%

(0.5

)%

Non-GAAP operating margin

3.4

%

1.2

%

2.7

%

ICHOR HOLDINGS, LTD.

Reconciliation of U.S. GAAP Net Loss to Non-GAAP Net Income

(in thousands, except share and per share amounts)

(unaudited)

Three Months Ended

March 27,
2026

December 26,
2025

March 28,
2025

U.S. GAAP net loss

$

(2,469

)

$

(15,961

)

$

(4,559

)

Non-GAAP adjustments:

Share-based compensation

3,833

4,157

4,123

Amortization of intangible assets

2,078

2,078

2,078

Restructuring plan costs (1)

549

9,058

—

Facility shutdown costs (2)

114

1,220

592

Other (3)

—

—

954

Tax adjustments related to non-GAAP adjustments (4)

1,182

(272

)

711

Tax expense from valuation allowance (5)

—

—

337

Non-GAAP net income

$

5,287

$

280

$

4,236

U.S. GAAP diluted EPS

$

(0.07

)

$

(0.46

)

$

(0.13

)

Non-GAAP diluted EPS

$

0.15

$

0.01

$

0.12

Shares used to compute non-GAAP diluted EPS

35,297,664

34,580,920

34,206,989

(1)

Represents the costs associated with our Consolidation Restructuring Plan. Included in this amount for the first quarter of 2026 and fourth quarter of 2025 are: (i) other direct and incremental restructuring related costs of $0.4 million and $1.2 million, respectively; (ii) fixed asset charges of $0.1 million and $2.6 million, respectively; (iii) inventory impairment costs of $0.0 million and $3.1 million, respectively; (iv) severance costs associated with affected employees of $0.0 million and $1.7 million, respectively; and (v) ROU asset impairment costs of $0.0 million and $0.5 million, respectively.

(2)

Represents costs associated with the exit from our Scotland and Korea operations. Included in this amount for the first quarter of 2026, fourth quarter of 2025, and for the first quarter of 2025 are: (i) other direct and incremental facility exit-related costs of $0.1 million, $0.6 million, and $0.0 million, respectively; (ii) severance costs associated with affected employees of $0.0 million, $0.5 million, and $0.6 million, respectively; and (iii) inventory write-off charges of $0.0 million, $0.1 million, and $0.0 million, respectively.

(3)

Represents severance costs associated with our global reduction-in-force programs (other than severance costs associated with the exit from our Scotland and Korea operations, as described above).

(4)

Adjusts GAAP income tax expense for the impact of our non-GAAP adjustments, which are presented on a gross basis.

(5)

During the first quarter of 2025, we recorded a valuation allowance against the deferred tax assets of our Scotland and Korean operations.

ICHOR HOLDINGS, LTD.

Reconciliation of U.S. GAAP Net Cash Provided by Operating Activities to Free Cash Flow

(in thousands)

(unaudited)

Three Months Ended

March 27,
2026

December 26,
2025

March 28,
2025

Net cash provided by (used in) operating activities

$

(2,917

)

$

9,170

$

18,977

Capital expenditures

(7,065

)

(3,249

)

(18,481

)

Free cash flow

$

(9,982

)

$

5,921

$

496

More News From Ichor Holdings, Ltd.

Ichor Holdings (ICHR - Free Report) came out with quarterly earnings of $0.15 per share, beating the Zacks Consensus Estimate of $0.13 per share. This compares to earnings of $0.12 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +13.21%. A quarter ago, it was expected that this company would post a loss of $0.06 per share when it actually produced earnings of $0.01, delivering a surprise of +116.67%.

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

Ichor Holdings, which belongs to the Zacks Electronics - Semiconductors industry, posted revenues of $256.07 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 1.19%. This compares to year-ago revenues of $244.46 million. The company has topped consensus revenue estimates four times over the last four quarters.

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

Ichor Holdings shares have added about 249.5% since the beginning of the year versus the S&P 500's gain of 5.6%.

What's Next for Ichor Holdings?While Ichor Holdings has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

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

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

Ahead of this earnings release, the estimate revisions trend for Ichor Holdings was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.22 on $264.38 million in revenues for the coming quarter and $1.15 on $1.14 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Electronics - Semiconductors is currently in the top 32% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

One other stock from the same industry, GlobalFoundries Inc. (GFS - Free Report) , is yet to report results for the quarter ended March 2026. The results are expected to be released on May 5.

This company is expected to post quarterly earnings of $0.35 per share in its upcoming report, which represents a year-over-year change of +2.9%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

GlobalFoundries Inc.'s revenues are expected to be $1.62 billion, up 2.4% from the year-ago quarter.