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Can Incyte Deliver on 447% EPS Forecasts and Pipeline Hype?Incyte NASDAQ: INCY presented updated clinical data and development plans for two experimental solid-tumor programs at ESMO in Madrid: INCA33890, a TGFβR2-by-PD-1 bispecific antibody known as “’890,” and INCB161734, a KRAS G12D-targeted small molecule known as “’734.”

The company said both programs are being advanced into pivotal studies focused initially on gastrointestinal cancers, including microsatellite-stable colorectal cancer and pancreatic ductal adenocarcinoma. Incyte also outlined planned expansion into adjuvant settings and additional combination regimens.

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’890 Shows Early Activity in First-Line MSS Colorectal Cancer
5 top healthcare stocks for earnings growth in 2024Elena Garralda, co-director of the Clinical Research Program at Vall d’Hebron Institute of Oncology, reviewed phase I results for ’890 combined with FOLFOX chemotherapy and bevacizumab in previously untreated microsatellite-stable, or MSS, metastatic colorectal cancer.

Garralda noted that approximately 85% of colorectal cancers are MSS and have not derived substantial benefit from immunotherapy. She described FOLFOX plus bevacizumab as the existing first-line standard of care, with response rates generally around 45% to 50%, median progression-free survival of about 10 months and median overall survival of roughly 25 to 30 months in phase III trials.

Argenx's 28% Surge & Promising Product Propel Investor ConfidenceAmong 42 efficacy-evaluable patients receiving the ’890 combination, the overall response rate was 71%, including a confirmed response rate of 67%. The disease-control rate was 100%, while the six-month progression-free survival rate was 81%, with a median follow-up of nearly six months.

The study population included patients with factors associated with more challenging disease, according to Garralda. Sixty-seven percent of first-line participants had liver metastases, while 63% had KRAS-mutant disease. The response rate was 83% among patients with liver metastases and 62% among those with peritoneal metastases. Patients with PD-L1 expression above 1% had an 81% response rate, compared with 50% among those below 1%, although Garralda cautioned that subgroup sizes were small.

Safety results were generally consistent with expected effects of FOLFOX, bevacizumab and checkpoint inhibition, she said. No dose-limiting toxicities or fatal treatment-related events were observed. The company reported that 14% of patients experienced grade 3 or higher immune-related adverse events.

Steven Stein, Incyte’s chief medical officer and head of late development, said the data support the ongoing phase III NEXERA-303 study. The trial is enrolling 700 previously untreated patients with metastatic MSS colorectal cancer and compares FOLFOX plus bevacizumab with either ’890 or placebo. Its primary endpoint is progression-free survival, with overall survival among key secondary measures. Incyte expects topline results in 2029.

Incyte is also initiating a 40-patient proof-of-concept trial of ’890 in stage II or III colorectal cancer patients who remain circulating tumor DNA-positive after surgery and adjuvant chemotherapy. The study will assess circulating tumor DNA clearance after three months of treatment, among other endpoints.

’734 Data in Pancreatic Cancer and Colorectal Cancer
Manuel Hidalgo, director of the Gastrointestinal Cancer Center at NYU’s Perlmutter Cancer Center, presented phase I data for ’734, which Incyte described as a highly selective KRAS G12D ON/OFF inhibitor. KRAS G12D mutations occur in up to 40% of pancreatic cancers, according to Hidalgo.

In previously untreated advanced pancreatic cancer, ’734 was evaluated with either gemcitabine plus nab-paclitaxel or modified FOLFIRINOX. At recommended dose levels, 26 patients received the gemcitabine/nab-paclitaxel combination and 28 received modified FOLFIRINOX.

The overall response rate was 69% with gemcitabine/nab-paclitaxel and 89% with modified FOLFIRINOX. Confirmed or pending response rates were 58% and 81%, respectively, while disease-control rates approached 100% in both groups. Hidalgo said several complete responses were observed and described them as unusual in this disease setting.

Six-month progression-free survival was about 80% for the gemcitabine/nab-paclitaxel regimen and about 90% for modified FOLFIRINOX. Hidalgo said the progression-free survival and overall survival data remain immature.

Reported adverse events were largely consistent with chemotherapy backbones, with nausea and vomiting identified as additional generally low-grade and manageable side effects associated with ’734. Hidalgo said relative chemotherapy dose intensity was in a range expected for the standard regimens.

Incyte’s phase III DAWN-303 study is enrolling 590 patients with metastatic KRAS G12D-mutated pancreatic ductal adenocarcinoma. The study compares chemotherapy plus ’734 against chemotherapy plus placebo. Overall survival, progression-free survival and objective response rate are primary endpoints. Stein said the company expects topline progression-free survival data in 2028.

In a separate later-line colorectal cancer cohort, ’734 combined with cetuximab produced a 36% response rate and approximately 100% disease control in a small group of patients with KRAS G12D-mutated disease. Median progression-free survival was 7.2 months. Hidalgo contrasted those findings with response rates below 5% for standard later-line approaches discussed during the presentation.

Incyte plans to begin a pivotal second- or third-line colorectal cancer study of ’734 plus cetuximab in the first half of 2027. The company also expects to begin an adjuvant pancreatic cancer phase III program in 2027.

Combination Strategy and Additional Programs
Incyte said it is pursuing additional combinations for ’734, including studies with Bristol Myers Squibb’s PRMT5 inhibitor navlimetostat, Synnovation Therapeutics’ PARP1 inhibitor SNV1521 and Genmab’s petosemtamab. The company said these combination programs are intended to broaden the potential role of ’734 across KRAS G12D-mutated gastrointestinal cancers.

For ’890, Incyte cited ongoing or planned work in ovarian, head and neck, and non-small cell lung cancers, as well as additional combinations involving CTLA-4, EGFR-targeted agents and an antibody-drug conjugate.

Company representatives said the two programs, along with its CDK2 inhibitor ’667 in ovarian cancer, target approximately 250,000 newly diagnosed patients annually across their initially specified indications. Incyte emphasized that both ’890 and ’734 were discovered and developed internally and remain investigational.

About Incyte (NASDAQ:INCY)Incyte Corporation is a biopharmaceutical company that discovers, develops and commercializes medicines for oncology and inflammatory or autoimmune diseases. The company focuses on therapies that target specific biological pathways, including Janus kinase (JAK), fibroblast growth factor receptor (FGFR) and other mechanisms involved in cancer and immune-related conditions.

Its key products include Jakafi (ruxolitinib), a JAK inhibitor used in the United States for certain blood cancers and graft-versus-host disease; Opzelura (ruxolitinib cream), a topical treatment for atopic dermatitis and nonsegmental vitiligo; and Pemazyre (pemigatinib), an FGFR inhibitor approved for selected patients with cholangiocarcinoma and certain myeloid or lymphoid neoplasms.

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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FLG shares fell over 9.2% on the day management linked a $12.9 billion rent-regulated apartment loan book to frozen rents and rising cap rates. An investigation is underway.

, /PRNewswire/ -- Flagstar (NYSE: FLG) shares fell over 9.2% today, October 23, 2026, the day the bank's third-quarter report detailed $12.9 billion in loans backed by rent-regulated multifamily buildings. If you bought FLG shares, that drop hit your account directly. Shareholders who lost money on Flagstar are encouraged to submit their loss information now. You may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (888) SueWallSt.

On the earnings call, management cited frozen rents, higher cap rates, higher operating expenses and inflationary pressure as forces acting on these borrowers. Of the $12.9 billion, $8.1 billion is in buildings where more than half the units are rent-regulated. Reserve coverage on the New York City portion of that group was 3.37%.

The rent-regulated book declined $531 million, or 4%, during the quarter. Another $2.9 billion of New York City loans in the more-than-50%-regulated category is scheduled to mature or reset in 2027, and Flagstar's commercial real estate concentration ratio stood at 346%. SueWallSt notifies investors of a pending investigation into potential securities law violations on behalf of Flagstar investors.

If your Flagstar investment is underwater, request a no-cost review of your losses or call (888) SueWallSt.

WHY SUEWALLST: SueWallSt is powered by Levi & Korsinsky LLP. Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.

Frequently Asked Questions About the FLG Investigation
Q: Who is eligible to participate in the FLG investigation?A: Investors who purchased FLG stock or securities and suffered financial losses may be eligible. Eligibility is based on purchase date and documented losses -- not on whether you still hold the shares.

Q: How much did FLG stock drop?A: Shares fell over 9.2% during the October 23, 2026 session and reached a new 52-week low. The decline came after the Company disclosed third-quarter 2026 results, and management commentary cited frozen rents, higher cap rates and higher operating expenses affecting its $12.9 billion rent-regulated multifamily portfolio. Investors who purchased shares at allegedly inflated prices and suffered losses may be eligible to seek compensation.

Q: Which statements are being investigated as potentially misleading?A: The investigation concerns whether Flagstar made materially false or misleading statements regarding the risks tied to its rent-regulated multifamily loan portfolio. When the Company disclosed its third-quarter 2026 results on October 23, 2026, the stock price fell over 9.2%.

Q: What is a lead plaintiff and why does it matter?A: If the investigation proceeds to legal action, a lead plaintiff is the investor the court appoints to represent the group of affected investors. Lead plaintiffs are typically investors with the largest documented losses. Contacting the firm during the investigation phase preserves that option.

Q: What documents do I need to participate?A: Brokerage statements or trade confirmations showing purchase dates, share quantities, prices paid, and any subsequent sale dates and prices.

Q: What if I already sold my FLG shares -- can I still recover losses?A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought FLG and sold at a loss may still participate in the investigation.

Q: What does it cost me to participate?A: There is no upfront cost to submit your information and review whether you may be eligible to recover. Should you choose to participate in any resulting action, these matters are generally handled on a contingency basis, with any attorneys' fees and expenses subject to court approval.

Q: Do I need to go to court or give testimony?A: No. Participating in the investigation does not require court appearances or depositions. If legal action is later pursued, the overwhelming majority of affected investors never appear in court either.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
[email protected]
Tel: (888) SueWallSt
Fax: (212) 363-7171

Attorney Advertising. Prior results do not guarantee similar outcomes.

SOURCE SueWallSt.com

Micron (MU +2.98%) has been a top performer in the market this year, with the stock more than tripling so far in 2026. That places it in the top five best-performing stocks in the S&P 500 (^GSPC +0.70%). Many investors might think they've missed the boat, but I don't think that's the case. 

There's a ton of upside ahead for Micron, and most investors aren't ready for it. A $1,000 investment in Micron only buys you about one share, but I think that $1,000 could easily transform into more than $4,000 by the end of 2027.

Image source: The Motley Fool.

Micron's business is shifting
Micron makes memory chips, which are used in all sorts of computing devices ranging from laptops to smartphones to AI computing units. There isn't a lot that separates one memory chip from another, so clients, in the past, often chose what was cheapest for them. This created a race to the bottom for who could price their memory the lowest, and prices only rose when supply was tight.

MU Micron Technology$903.70+$26.15 (+2.98%)

NASDAQ · As of 4:00 PM ET 10/26/26

This year, all the memory chip manufacturers ran out of production capacity, which caused prices to skyrocket. This placed the power in the memory chip companies' hands for once, and Micron is taking advantage of it. Instead of just letting memory chip prices rise out of control, it is starting to enter into long-term supplier agreements with its clients. This sets floor and ceiling limits for its chips, stabilizing the market.

These agreements are also take-or-pay arrangements, so Micron is locking in a lot of revenue. In fact, Micron estimates that 35% of its revenue is locked in through 2030. This is a big deal, and it is transforming Micron's business to look more like a regular chip supplier than a commodity business.

However, Micron's stock still trades like it's highly cyclical, and this is the investment opportunity that needs to be seized.

Micron's stock is dirt cheap
Micron has been very vocal about its strong growth potential. While market conditions were bad in 2026, Micron told investors that 2027 and 2028 would be worse. What's noteworthy is that Micron has new production facilities coming online in mid-2027 and into late 2028, so chip supply will be increasing, but with demand rising at an even faster rate, it won't be enough. This should cause Micron's revenue to grow rapidly, as prices will still be high as more capacity comes online.

This is part of why Wall Street analysts expect Micron's revenue to grow at a 107% pace in 2027. None of this is priced into Micron's stock at all, as it trades for a mere 4.8 times fiscal year 2027 earnings estimates (ending August 2027).

MU PE Ratio (Forward) data by YCharts. PE = price-to-earnings.

That's a major investment opportunity to take advantage of, because if Micron can reduce its cyclical nature by entering into long-term supply agreements with clients, the downturns won't be as bad. This could allow Micron to get priced like a regular big tech stock, trading at 20 times earnings. If Micron hits analyst expectations and its stock rises to 20 times trailing earnings, that would result in the stock quadrupling by the end of 2027.

That would be an incredible return in just a year, but it's what the math suggests. However, if the market doesn't give it the premium it may deserve, the stock could fall short of that lofty goal. Still, I have a hard time believing that a company as critical as Micron could stay this undervalued for so long. The reality is that the AI build-out will last for many more years, likely through at least 2030. That's plenty of time for Micron to deliver incredible results, and it should drive impressive shareholder returns over that same time frame.

Wix.com (WIX - Free Report) closed the most recent trading day at $80.38, moving -1.9% from the previous trading session. This change lagged the S&P 500's 0.7% gain on the day. Elsewhere, the Dow saw an upswing of 0.28%, while the tech-heavy Nasdaq appreciated by 0.83%.

Shares of the cloud-based web development company witnessed a gain of 11.05% over the previous month, beating the performance of the Computer and Technology sector with its loss of 7.7%, and the S&P 500's loss of 1.21%.

The upcoming earnings release of Wix.com will be of great interest to investors. The company's earnings report is expected on November 10, 2026. The company's earnings per share (EPS) are projected to be $1.3, reflecting a 22.62% decrease from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $566.8 million, indicating a 12.2% increase compared to the same quarter of the previous year.

For the full year, the Zacks Consensus Estimates project earnings of $4.28 per share and a revenue of $2.26 billion, demonstrating changes of -41.53% and +13.29%, respectively, from the preceding year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Wixcom. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Wix.com is currently a Zacks Rank #3 (Hold).

Looking at valuation, Wix.com is presently trading at a Forward P/E ratio of 19.16. This indicates a premium in contrast to its industry's Forward P/E of 16.03.

Meanwhile, WIX's PEG ratio is currently 2.17. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Computers - IT Services stocks are, on average, holding a PEG ratio of 1.38 based on yesterday's closing prices.

The Computers - IT Services industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 92, positioning it in the top 38% of all 250+ industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.

, /PRNewswire/ -- First Horizon Corporation (NYSE: FHN) (or "First Horizon") today announced that its board of directors declared a quarterly cash dividend of $0.17 per share on FHN's common stock. The dividend is payable on January 4, 2027, to shareholders of record at the close of business on December 11, 2026.

Preferred Dividend Information

Cash dividends were also declared on the Company's Series E, Series F and Series H Preferred Stock, and on First Horizon Bank's Class A Non-Cumulative Perpetual Preferred Stock, as follows:

FHN Series E

Quarterly cash dividend of $1,625.00 per share on FHN's 6.50% Non-Cumulative Perpetual Preferred Stock, Series E ("Series E Preferred Stock"). This equates to a cash dividend of $0.40625 per Depositary Share (NYSE: FHN PRE), each of which represents a 1/4,000th interest in a share of the Series E Preferred Stock. The dividend is payable on January 11, 2027, to shareholders of record at the close of business on December 24, 2026.

FHN Series F

Quarterly cash dividend of $1,175.00 per share on FHN's 4.70% Non-Cumulative Perpetual Preferred Stock, Series F ("Series F Preferred Stock"). This equates to a cash dividend of $0.29375 per Depositary Share (NYSE: FHN PRF), each of which represents a 1/4,000th interest in a share of the Series F Preferred Stock. The dividend is payable on January 11, 2027, to shareholders of record at the close of business on December 24, 2026.

FHN Series H

Quarterly cash dividend of $1,687.50 per share on FHN's 6.75% Non-Cumulative Perpetual Preferred Stock, Series H ("Series H Preferred Stock"). This equates to a cash dividend of $0.421875 per Depositary Share (NYSE: FHN PRH), each of which represents a 1/4,000th interest in a share of the Series H Preferred Stock. The dividend is payable on January 11, 2027, to shareholders of record at the close of business on December 24, 2026.

First Horizon Bank Class A

Quarterly cash dividend of $12.87043 per share on First Horizon Bank's Class A Non-Cumulative Perpetual Preferred Stock. The dividend is payable on January 11, 2027, to shareholders of record at the close of business on December 24, 2026.

About First Horizon
First Horizon Corporation (NYSE: FHN), with $84.3 billion in assets as of September 30, 2026, is a leading regional financial services company, dedicated to helping our clients, communities and associates unlock their full potential with capital and counsel. Headquartered in Memphis, TN, the banking subsidiary First Horizon Bank operates in 12 states concentrated in the southern U.S. The Company and its subsidiaries offer commercial, private banking, consumer, small business, wealth and trust management, retail brokerage, capital markets, fixed income, and mortgage banking services. First Horizon has been recognized as one of the nation's best employers by Fortune and Forbes magazines and a Top 10 Most Reputable U.S. Bank. More information is available at www.FirstHorizon.com.

SOURCE First Horizon Corporation

DoorDash is in advanced talks to acquire Instacart in a deal that could value the grocery-delivery platform at about $17 billion, a source familiar with the matter told Reuters on Monday.

A deal may be finalized as soon as Wednesday, although there are no guarantees it will come together, the person said. Instacart’s deal talks with Uber are no longer active, the person added.

Shares of Instacart, which had a market value of about $13 billion as of Friday’s close, rose about 8% in regular trading, while DoorDash fell around 6%.

DoorDash is in advanced talks to acquire Instacart in a deal that could value the grocery-delivery platform at about $17 billion. Mojahid Mottakin – stock.adobe.com The Wall Street Journal first reported the developments on Monday.

The food delivery industry has been grappling with rising labor costs, tighter regulation of delivery workers and growing competition after the pandemic-driven boom in online ordering faded.

The potential deal comes as delivery companies expand into grocery and retail to drive growth beyond restaurant delivery, with DoorDash buying Deliveroo and Uber acquiring Postmates and Delivery Hero.

If successful, the acquisition of Instacart would give DoorDash access to the platform’s established marketplace and retailer ties, which it could combine with its own vast delivery network and customer base.

The grocery platform has been exploring a possible sale and has held preliminary discussions with potential buyers including Uber and DoorDash, the Information reported on Friday, citing people familiar with the matter.

Shares of Instacart, which had a market value of about $13 billion as of Friday’s close, rose about 8% in regular trading. REUTERS Instacart declined to comment when contacted by Reuters, while Uber and DoorDash did not immediately respond.

“Strategically, DoorDash looks like the more natural fit for Instacart, given the complementary strengths of its restaurant delivery network and Instacart’s grocery expertise,” said Nick Smith, co-founder of growth strategy consultancy Manifesto Growth Architects.

“For Uber, the opportunity would be to deepen its position as an everyday convenience platform. But an acquisition only makes sense if it delivers incremental customer value and profitable growth — not simply greater scale.”

Separately, Instacart said in a regulatory filing on Monday it would wind down its Caper Cart smart shopping-cart business by the end of the second quarter of 2027, expecting pre-tax charges of $55 million to $80 million related to the move.

Simpson Manufacturing (SSD - Free Report) came out with quarterly earnings of $2.68 per share, beating the Zacks Consensus Estimate of $2.47 per share. This compares to earnings of $2.58 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +8.50%. A quarter ago, it was expected that this building materials company would post earnings of $2.72 per share when it actually produced earnings of $3.09, delivering a surprise of +13.6%.

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

Simpson Manufacturing, which belongs to the Zacks Building Products - Miscellaneous industry, posted revenues of $638.13 million for the quarter ended September 2026, surpassing the Zacks Consensus Estimate by 2.43%. This compares to year-ago revenues of $623.51 million. The company has topped consensus revenue estimates three times over the last four quarters.

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

Simpson Manufacturing shares have added about 14.2% since the beginning of the year versus the S&P 500's gain of 11.4%.

What's Next for Simpson Manufacturing?While Simpson Manufacturing 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 Simpson Manufacturing 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 $1.54 on $535 million in revenues for the coming quarter and $9.28 on $2.42 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, Building Products - Miscellaneous is currently in the bottom 14% 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, Titan America (TTAM - Free Report) , is yet to report results for the quarter ended September 2026. The results are expected to be released on November 4.

This manufacturer and supplier of heavy building materials is expected to post quarterly earnings of $0.38 per share in its upcoming report, which represents a year-over-year change of +22.6%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Titan America's revenues are expected to be $482.07 million, up 10.4% from the year-ago quarter.

, /PRNewswire/ --

Why: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of The Cooper Companies, Inc. (NASDAQ: COO) resulting from allegations that Cooper Companies may have issued materially misleading business information to the investing public.

So What: If you purchased Cooper Companies securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.

What to do next: To join the prospective class action, go to https://rosenlegal.com/cases/the-cooper-companies-inc/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

What is this about: On September 10, 2026, The Motley Fool published an article entitled "Why is Cooper Companies Stock Down 15% Today?". The article stated that Cooper Companies stock fell "after the company's earnings report disappointed Wall Street with weak guidance and a decision to not sell CooperSurgical."

On this news, Cooper Companies's stock fell 14.6% on September 10, 2026.

Why Rosen Law: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions.  Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered billions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

     Laurence Rosen, Esq.
     Phillip Kim, Esq.
     The Rosen Law Firm, P.A.
     275 Madison Avenue, 40th Floor
     New York, NY 10016
     Tel: (212) 686-1060
     Toll Free: (866) 767-3653
     Fax: (212) 202-3827
     [email protected]
     www.rosenlegal.com

SOURCE THE ROSEN LAW FIRM, P. A.

Key Takeaways STRL has plunged more than 60% from its all-time high, creating a potential buy-the-dip opportunity.Sterling's Q3 earnings are projected to surge 74%, fueled by robust infrastructure demand.STRL is now trading at 18X forward earnings, well below its decade-long peak of 49X.
Sterling Infrastructure (STRL - Free Report) stock has fallen more than 60% from its 52-week and all-time high of over $1,000 a share, putting the infrastructure construction company on investors' radars ahead of its Q3 results on Wednesday, October 28, after the market closes.

With STRL still up 400% in the last three years and trading near $360 a share, the steep selloff may present a compelling buying opportunity as Sterling continues to benefit from surging demand for AI data centers, advanced manufacturing facilities, and other critical infrastructure projects.

Image Source: Zacks Investment Research

Sterling's Q3 ExpectationsSterling is expected to deliver another quarter of impressive growth, with the Zacks Consensus Estimate calling for Q3 earnings of $6.07 per share, representing a 74% increase from EPS of $3.48 in the prior-year quarter.

Quarterly revenue is projected to climb nearly 70% to $1.17 billion compared to $689.02 million a year ago, largely driven by the company's E-Infrastructure Solutions segment, which supports the construction of data centers, semiconductor facilities, and other large-scale industrial projects.

Notably, Sterling has surpassed earnings expectations for 14 consecutive quarters, posting an impressive average EPS surprise of 27.21% in its last four reports.  

Furthermore, Sterling ended Q2 with a record $4.33 billion backlog, up 116% year over year and providing considerable revenue visibility as demand for mission-critical infrastructure continues to accelerate.

Image Source: Zacks Investment Research

STRL's Valuation Looks Much More AttractiveFollowing its dramatic pullback, Sterling stock trades at 18X forward earnings, a much more reasonable valuation considering the company's exceptional growth trajectory.

Encouragingly, STRL now trades at a discount to the benchmark S&P 500 and its Zacks Engineering - R and D Services industry average, while trading well below its decade-long peak of 49X forward earnings and closer to its median of 14X during this period.

Adding to the appeal, Sterling raised its full-year 2026 guidance following Q2, projecting adjusted EPS of $19.70-$20.30 per share, with the $20 midpoint representing an 84% increase from 2025.

Meanwhile, revenue is expected to reach $4-$4.15 billion, reflecting roughly 64% growth at the midpoint.

Although concerns about elevated AI infrastructure spending and the sustainability of hyperscaler capital expenditures remain risks, Sterling's rapidly expanding backlog and earnings outlook suggest the recent selloff may be excessive.

Image Source: Zacks Investment Research

Bottom LineSterling Infrastructure stands out as one of the more intriguing buy-the-dip targets ahead of its Q3 earnings, particularly for investors seeking exposure to the ongoing AI infrastructure buildout at a more reasonable valuation.

Supporting this outlook, STRL currently sports a Zacks Rank #2 (Buy), with its robust earnings momentum, substantial backlog, and increasingly attractive valuation suggesting meaningful upside potential if Sterling delivers another strong quarterly report.

There was nothing new coming from Nu Holdings (NU -16.95%) on Monday, but that didn't stop Mr. Market from assertively selling the stock. Investors weren't necessarily passing judgment on the ambitious fintech's operations; rather, they were reacting to the impact Sunday's presidential runoff election might have on the country's enterprises. As with other Brazilian equities, Nu Holdings stock really took it on the chin, with a nearly 17% sell-off that trading session.

Meet the new boss, same as the old bossIn a result that was unexpected by many observers and members of the electorate, the leftist incumbent, Luiz Inácio Lula da Silva, won the election. He is to govern for another four years.

Image source: Getty Images.

While investors often cheer continuity at the top of a nation's government, Lula is a proponent of direct intervention in strategic enterprises (if not necessarily private enterprise in general). Investors worry that this will continue over the next few years, against a backdrop of a struggling economy and depreciating currency.

The Brazilian real took a significant hit post-election, declining in value against the U.S. dollar and other global currencies. The worry is that there will be more where that came from.

$12.59-$2.57 (-16.95%)

NYSE · As of 4:00 PM ET 10/26/26

Banking on tougher timesBanks and fintech companies are always strategic to any economy. Given that, to a degree, worries about Lula's reelection negatively impacting Nu Holdings are justified -- especially given that the bulk of the company's revenue, by far, comes from its home country.

However, Nu's next-generation financial services have proven highly useful in its historically underbanked home country, so I wouldn't fret about direct intervention in its business. Economic development and the trajectory of interest rates are greater concerns, as Nu's success remains tied to the strength of Brazilian consumers and borrowers.

Still, I think the company has grown to the point where it can weather a slump. What's more, that heavy Monday sell-off feels like an unsustainable panic reaction. Now might be a fine time to pick up Nu stock at a bargain price.

Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Nu Holdings. The Motley Fool has a disclosure policy.

Agreement through Defense Ordnance Technology Consortium for Tungsten Exploration Adds Second Critical Mineral Pillar for Perpetua Resources

Program Focused on Drilling, Metallurgical Test Work and Construction of a Decline into Hangar Flats

Hangar Flats Decline to Access High-Grade Tungsten, 1.37 Million Ounces of Gold, and 95 Million Pounds of Antimony Not in Reserves

, /PRNewswire/ -- Perpetua Resources Corp. (Nasdaq: PPTA) (TSX: PPTA) ("Perpetua Resources" or "Perpetua" or the "Company") today announced a new 36-month, $40 million award through the U.S. Army's Defense Ordnance Technology Consortium ("DOTC") from the Portfolio Acquisition Executive Agile Sustainment & Ammunition ("PAE AS&A") located at Picatinny Arsenal, N.J. This award will fund a program to evaluate the technical and economic feasibility of producing tungsten concentrate at the historical Stibnite Mining District ("Stibnite") in Idaho. Structured as a cost-share program between the Company and the U.S. Government, funding will support drilling to define a potential tungsten mineral resource, collection of material for laboratory and bench-scale metallurgical testing and permitting and engineering of an exploration decline to access areas of known tungsten mineralization.

"Resilient mineral solutions start here in America," said Jon Cherry, Perpetua Resources President & CEO. "The U.S. Army's additional investment in a historically proven American tungsten source at Stibnite underscores the growing strategic value of Stibnite's mineral endowment and continues to strengthen the partnerships supporting Perpetua's future. Historical production and recent exploration results suggest Stibnite has the potential to be one of the world's highest-grade tungsten sources."

There has been no commercial tungsten mining in the United States since 2015. The U.S. is wholly reliant on imports from a small number of countries, with recent Chinese export controls and new federal sourcing restrictions adding to the defense and manufacturing supply risk. The Stibnite mining district has a history of antimony and tungsten production, supplying roughly half of the tungsten and 90% of the antimony used by the United States during World War II1. When the war ended, mining for tungsten and antimony concluded, leaving identified mineralized materials behind.

Recent Perpetua exploration drilling at Stibnite has identified high-grade zones of antimony and tungsten mineralization. Specifically, Perpetua's drilling program at the Hangar Flats deposit returned significant tungsten-antimony mineralization, as previously reported, including:

9.8 meters grading 4.6% tungsten, 8.3% antimony22.9 meters grading 1.2% tungsten, 3.2% antimony3.4 meters grading 1.5% tungsten, 10.6% antimonyThese encouraging results underpin the new DOTC award which will focus largely on the tungsten mineralization beneath the Hangar Flats pit. Perpetua's proposed program with the U.S. Army includes an initial surface exploration drilling program and metallurgical test work on an existing 550-kilogram sample compiled from prior exploration activities grading 9.2% antimony and 4.2% tungsten. Other work will include the design, permitting, and possible construction of an exploration decline to access the high-grade antimony, tungsten and gold mineralization beneath the Hangar Flats pit.

In addition to drilling for tungsten under the DOTC award, the Company intends to continue to advance its own ongoing exploration activities underneath the currently permitted Hangar Flats pit which contains approximately 1.37 million ounces of gold resources and over 95 million pounds of antimony resources not included in the current mine plan or in the Company's reported mineral reserves. The Company believes that accessing this material via underground mining may supplement the Company's existing production profile. Any activity outside the scope of the currently permitted mine plan will require additional regulatory review and permitting.

Perpetua will design and implement the tungsten exploration project and will match the U.S. Army's $40 million contribution in the joint investment. The initial 18-month phase is expected to cost approximately $18 million and be shared equally between Perpetua and the U.S. Army. The timing, scope and cost of subsequent phases are subject to ongoing development based on results of prior exploration, testing, engineering and permitting activities, as well as approval of each incremental phase of additional funding.

This new award brings total U.S. Government awards to Perpetua for critical minerals to $126 million since 2022. In addition to the announced DOTC grant, Perpetua has submitted proposals for additional grants to further expand its critical minerals program. While there can be no assurance that the Company will obtain additional funding, Perpetua believes its broader claim package is uniquely positioned to support U.S. government critical mineral initiatives.

__________________________

1 "Stibnite Historic District," National Register of Historic Places Nomination Form, NPS Ref. No. 87001186 (listed July 19, 1987).

Warrant Amendment

The Company has amended the outstanding warrants exercisable for an aggregate of 1,607,802 Common Shares at exercise prices of US$31.46 per share and US$38.93 per share, which were originally set to expire on October 28, 2026, December 1, 2026, and December 23, 2026, respectively. Each amendment extends the applicable expiry date to April 28, 2027 (the "Amendment"). The Company has relied on the exemption in section 602.1 of the TSX Company Manual in connection with the Amendment as an eligible interlisted issuer.

Website: www.perpetuaresources.com 

About Perpetua Resources and the Stibnite Gold Project

Perpetua Resources Corp., through its wholly owned subsidiaries, is focused on the exploration, site restoration, and redevelopment of gold-antimony-silver deposits in the Stibnite-Yellow Pine district of central Idaho. The Stibnite Gold Project is one of the highest-grade, open-pit gold deposits in the United States and holds the only identified domestic reserve of the critical mineral antimony, which is essential to the defense, energy, and manufacturing sectors. The Project is designed to apply a modern, responsible mining approach to restore a historic mine site and provide uplift to water quality, improve fish habitat access, and invest in river restoration while supporting local economic development in rural Idaho.

Forward-Looking Information

Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. In certain cases, Forward-Looking Information can be identified by the use of words and phrases or variations of such words and phrases or statements such as "anticipate", "expect", "plan", "likely", "believe", "intend", "forecast", "project", "estimate", "potential", "could", "may", "will", "would" or "should". Forward-Looking Information includes, but is not limited to, planned exploration and development for the project, including with respect to antimony and tungsten; expected timing and outcomes of the tungsten exploration program under the DOTC grant; the expected outcomes and benefits of the Project, including production rates and mineral reserves and mineral resources; and the potential for development of any additional resources and reserves and the permitting requirements with respect to any such additional resources and reserves. In preparing the Forward-Looking Information in this news release, Perpetua Resources has applied several material assumptions, including, but not limited to, that the DOTC grant will be funded at the times and in the amounts expected, and that the Company will be able to fund its matching portion of the exploration program; that the current exploration, development, environmental and other objectives concerning the Project can be achieved and that the Company's other corporate activities will proceed as expected; that the Company will satisfy or will continue to satisfy the requirements of applicable permits and the requirements of various governmental approvals; and assumptions made in the interpretation of drill results, the geology, grade and continuity of mineral deposits. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Perpetua Resources to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include, among other things, risks related to unforeseen delays in the review and permitting process, including as a result of legal challenges to the ROD or other permits; risks related to increased or unexpected costs in development, construction, operations or the permitting process; risks that necessary financing will be unavailable when needed on acceptable terms, or at all, as well as those factors discussed in Perpetua Resources' public filings with the U.S. Securities and Exchange Commission (the "SEC") and its Canadian disclosure record. Although the Company has attempted to identify important factors that could affect the Company and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Because it is not possible to predict or identify all such factors, this list cannot be considered a complete set of all potential risks or uncertainties. Accordingly, readers should not place undue reliance on Forward-Looking Information. For further information on these and other risks and uncertainties that may affect the Company's business and liquidity, see the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's filings with the SEC, which are available at www.sec.gov and with the Canadian securities regulators, which are available at www.sedarplus.ca. Except as required by law, the Company expressly disclaims any obligation to update the Forward-Looking Information herein.

Investors should be aware that only the first phase of funding has been committed in connection with the DOTC grant, and approval will be required for each incremental phase of additional funding. There is no assurance that such additional funding will be approved when expected or that it will be sufficient to conduct the proposed exploration activities or that such exploration will produce positive results.

Cautionary Statement Regarding Technical Information

The technical information in this news release has been prepared in accordance with the mining property disclosure rules specified in Regulation S-K subpart 1300 ("S-K 1300") promulgated by the Securities and Exchange Commission and Canadian regulatory requirements set out in National Instrument 43-101 ("NI 43-101"), and has been reviewed and approved by Christopher Dail, CPG, Director, Exploration, and a Qualified Person as defined in NI 43-101 and in S-K 1300. Mr. Dail is not independent of the issuer.

Except for the exploration results presented herein, the technical and reserves information in respect of the Stibnite Gold Project in this news release is based upon information contained in the technical report titled "Stibnite Gold Project, S-K 1300 Technical Report Summary, Valley County, Idaho, USA," dated as of December 31, 2025 (the "TRS"), developed for the Stibnite Gold Project in accordance with S-K 1300 and published on March 31, 2026. Such information is as of December 31, 2025 and is subject to the assumptions, exclusions and qualifications set forth in the TRS. For additional information regarding the TRS, investors are encouraged to refer to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on March 31, 2026. Data regarding domestic antimony and tungsten production are based on U.S. Geological Survey, Mineral Commodity Summaries, dated as of January 2026.

There can be no assurance that exploration activities will result in the discovery of additional resources or reserves and isolated exploration results may not be indicative of the occurrence of a mineral deposit. Such results do not provide assurance that further work will establish sufficient grade, continuity, metallurgical characteristics and economic potential to be classed as a category of mineral resource. Exploration results are inherently uncertain and subject to numerous risks and uncertainties, including geological factors, market conditions, and regulatory changes. Furthermore, development of any additional resources and reserves discovered would be subject to any applicable NEPA and permitting requirements.

Quality Assurance

The exploration activities at the Stibnite Gold Project site were carried out under the supervision of Richard Moses, C.P.G., Christopher Dail, C.P.G., Austin Zinsser, SME-R.M., and Kent Turner, SME-R.M., all Qualified Persons as defined in NI 43-101 and in S-K 1300.

All gold assays are by a 30g Fire Assaycharge followed by an atomic absorption finish (with a 0.005g/t lower reporting limit). Samples reporting values > 6g/t gold are re-analyzed using a 30g Fire Assay charge followed by a gravimetric finish. Silver is analyzed via a 4-acid digestion followed by an ICP finish (with a 0.5g/t lower reporting limit). Samples reporting values > 10g/t silver are reanalyzed using a 50g Fire Assay charge followed by a gravimetric finish. Antimony is analyzed via a 4-acid digestion with ICP finish with a 5 g/t lower reporting limit. Samples reporting values >500g/t antimony are reanalyzed using XRF fusion. Some intervals may not add or subtract correctly due to rounding, but differences are deemed insignificant.

Samples were handled, shipped via Chain of Custody Procedures. Analyses were carried out by ALS Global Laboratories in their Reno and Elko, Nevada and Vancouver, British Columbia laboratories. Umpire samples are routinely submitted to third party labs and blank and standard samples are inserted at appropriate intervals for quality assurance and quality control. A review of the results of analyses of blanks, standards and duplicates by the Company's Qualified Person indicates values are within normal and acceptable ranges.

Analyses for antimony and tungsten in metallurgical samples were completed at Hazen Research, ALS Global, and SVL laboratories. Antimony was analyzed using wet chemistry AAS and titration methods and by fusion followed by XRF analysis. Tungsten was analyzed by fusion followed by XRF analysis. 

Antimony and tungsten analysis for Hangar Flats drill holes SB519-SB527 were performed with a Vanta Portable XRF in the field. Multiple readings were collected and averaged. The XRF protocol entailed analysis of reference standards and a blank sample throughout the use of the instrument. Overall, 99 non-duplicate analyses with appropriate data formatting were collected from QA/QC samples, representing approximately 5% of total analyses. Generally, the XRF QA data is considered sufficient for the objectives of the program.

SOURCE Perpetua Resources Corp.

Tesla (TSLA +5.21%) is spending less money than originally planned this year. And for investors who track how much money is being poured into artificial intelligence, that might sound like bad news.

But Tesla's decision to reduce its 2026 capital expenditure (capex) forecast by more than $5 billion isn't necessarily a warning about AI demand. In fact, it could be a smart move for the electric vehicle maker.

The reason is simple. Tesla doesn't need to build massive amounts of computing capacity to compete with Amazon, Alphabet, and Microsoft.

That's not its business.

Image source: Tesla.

Tesla is still all-in on AIOn Tesla's third-quarter earnings call, Chief Financial Officer Vaibhav Taneja announced the company reduced its 2026 capex forecast from more than $25 billion to approximately $20 billion.

The reduction doesn't mean Tesla is backing away from artificial intelligence. The company continues to develop its Full Self-Driving technology, expand its Cybercab robotaxi program, and work on its Optimus humanoid robots. All three projects require considerable investment. But they don't require Tesla to build the equivalent of Amazon Web Services or Microsoft's Azure.

Tesla needs computing power to train its AI models and improve its autonomous systems. It also needs manufacturing capacity to produce vehicles and robots, as well as the infrastructure to operate its planned robotaxi fleet.

Those investments serve a specific purpose: developing products and services Tesla can eventually sell to customers.

TSLA Tesla$391.62+$19.40 (+5.21%)

NASDAQ · As of 4:00 PM ET 10/26/26

Tesla doesn't need to win the data center raceCloud computing companies are spending hundreds of billions of dollars building data centers to support AI workloads. Alphabet raised its 2026 capex forecast to $200 billion, while Amazon increased its spending plans to $220 billion.

The aggressive spending makes a lot of sense. Those companies are building computing infrastructure that supports their existing cloud businesses, serves external customers, and provides the capacity needed to meet growing demand for AI services. Tesla has a different business model.

That doesn't mean Elon Musk’s company can stop investing in AI infrastructure. Training autonomous driving models requires enormous computing resources, and those requirements could increase as the company expands its ambitions.

But there's little reason for Tesla to match the spending of companies whose business is selling computing capacity. In fact, building more infrastructure than it needs would tie up capital that could be used to expand vehicle production, develop Optimus, or support its robotaxi business.

And with those businesses still developing, Tesla has good reasons to be selective about where its money goes.

Tesla's capex cut is good news for investorsTesla posted $28.05 billion in revenue for the third quarter, essentially unchanged from a year earlier. Automotive revenue declined 3%, while operating margins narrowed from 5.8% to 2.6%. Those numbers demonstrate that Tesla can't rely on its automotive business to generate unlimited amounts of cash for new projects.

But even so, Tesla generated $1.53 billion in free cash flow during the quarter and ended September with more than $45 billion in cash and investments. Cutting back on unneeded spending will give Tesla more flexibility to work on its autonomous driving and robotics businesses.

And importantly, management hasn't suggested that its AI development plans are being scaled back. Taneja said capital spending is expected to increase in the coming years as Tesla expands robotaxi operations, Optimus manufacturing, and AI computing infrastructure.

So the reduction in this year's budget appears to be more about when Tesla spends money than whether it intends to make those investments.

For investors in Nvidia and other AI infrastructure suppliers, Tesla's decision also shouldn't be confused with a slowdown in hyperscaler spending. The companies building cloud computing infrastructure have different customers, different revenue opportunities, and much larger capital budgets.

Tesla's challenge isn't to build the world's biggest collection of data centers. It's to turn AI technology into profitable products. And if the company can accomplish that while spending $5 billion less than originally planned, shareholders have every reason to welcome the decision.

Alphabet (GOOG -0.97%)(GOOGL -1.06%) reports Q3 2026 earnings after the market closes on Oct. 28. Wall Street analysts have an average revenue estimate of $127.8 billion, which would be a 25% year-over-year increase, and earnings per share (EPS) of $3.

Last quarter, Alphabet easily surpassed revenue expectations -- and its share price still ended up falling 7% the next day. Based on the tech giant's recent track record, investors probably shouldn't feel too confident about which direction Alphabet stock will move immediately post-earnings.

Image source: The Motley Fool.

What history says about Alphabet's post-earnings performance The way Alphabet stock moves after an earnings report is about as predictable as a coin flip. Over the last four quarters, it has had an even split, closing higher the day after earnings twice and closing lower twice, despite beating headline EPS expectations each time. Its moves this year have been significant, closing up 10% after its April 29 report, and down 7.1% after its July 22 report.

Stretching it to the last 16 quarters, Alphabet has closed up seven times and closed down nine times. The average move is 5.2% in either direction.

Why July's beat turned into a sharp drop Alphabet's earnings report in Q2 2026 looked great on the surface. Revenue was up 24% to $119.8 billion, Google Cloud revenue grew 82% to $24.8 billion, and EPS skyrocketed 294% to $9.11. The company's post-earnings slump makes more sense when you dig a little deeper.

Net income included about $99 billion in unrealized gains, mostly from Alphabet's investments in Space Exploration Technologies and Anthropic, and that caused the huge jump in EPS. These holdings are certainly valuable, but an increase in unrealized gains is much different from an increase in sales. Alphabet's adjusted EPS (without the unrealized gains) was $2.85, which actually missed consensus estimates by $0.04.

GOOGL Alphabet$316.80-$3.41 (-1.06%)

NASDAQ · As of 4:00 PM ET 10/26/26

Alphabet also raised its 2026 capex guidance to between $195 billion and $205 billion, and management said that 2027 capex will increase significantly. The company ended the quarter with negative free cash flow for the first time in its history since going public in 2004. The heavy spending worried investors and resulted in a sell-off.

What to watch on Oct. 28 There are a few potential swing factors, outside of revenue and EPS, to watch for in Alphabet's Q3 earnings. Any updates to its 2026 capex, as well as early guidance for 2027, could cause a big move, especially as rates have gone up and investors have become increasingly concerned with AI spending.

Free cash flow will give an idea of how manageable Alphabet's spending is. CFO Anat Ashkenazi said it will "remain under pressure" in the Q2 earnings call. How deep in the red it ends up will likely play a role in how the market reacts to earnings. Finally, Google Cloud revenue is a key metric, as it indicates that all the AI spending is turning into measurable sales growth. Ideally, Google Cloud growth will hold around 80%.

All that said, it's best to keep your expectations open. Earnings reports and post-earnings performance are inherently unpredictable. Considering how investors have rotated out of AI stocks recently, I think a decline in Alphabet stock is more likely than a surge post-earnings. However, when you're a long-term investor, what matters is what a company does over a period of years, not right after earnings.

In the latest trading session, Nvidia (NVDA - Free Report) closed at $216.02, marking a +2.4% move from the previous day. The stock's performance was ahead of the S&P 500's daily gain of 0.7%. Elsewhere, the Dow saw an upswing of 0.28%, while the tech-heavy Nasdaq appreciated by 0.83%.

Heading into today, shares of the maker of graphics chips for gaming and artificial intelligence had lost 6.27% over the past month, outpacing the Computer and Technology sector's loss of 7.7% and lagging the S&P 500's loss of 1.21%.

The investment community will be closely monitoring the performance of Nvidia in its forthcoming earnings report. The company is expected to report EPS of $2.49, up 91.54% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $108.99 billion, showing a 91.19% escalation compared to the year-ago quarter.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $9.3 per share and a revenue of $407.51 billion, indicating changes of +94.97% and +88.72%, respectively, from the former year.

Investors should also pay attention to any latest changes in analyst estimates for Nvidia. Such recent modifications usually signify the changing landscape 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 shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.56% higher within the past month. Nvidia presently features a Zacks Rank of #1 (Strong Buy).

With respect to valuation, Nvidia is currently being traded at a Forward P/E ratio of 22.69. This valuation marks a discount compared to its industry average Forward P/E of 32.25.

It's also important to note that NVDA currently trades at a PEG ratio of 1.62. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Semiconductor - General stocks are, on average, holding a PEG ratio of 1.63 based on yesterday's closing prices.

The Semiconductor - General industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 18, placing it within the top 8% of over 250 industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.

Shares of Clorox (CLX +0.42%), the maker of Clorox bleach and Purell hand sanitizer, trade about 9% above their 52-week low of $79.12 and down about 27% over the past year. A beaten-down household name with a high yield can look like a bargain. The problem is that the business is still under real pressure, which is why investors may want to stay away for now.

CLX Clorox$86.76+$0.36 (+0.42%)

NYSE · As of 4:00 PM ET 10/26/26

Organic sales, which exclude acquisitions, fell 8% in fiscal 2026, mostly because Clorox was lapping extra shipments to retailers in the previous year. Management expects organic growth of 3.5% to 4.5% in fiscal 2027, which is an improvement, but other problems may continue to weigh on the stock.

The purchase of GOJO, the maker of Purell, should add about 9.5 points to fiscal 2027 net sales. But one-time deal costs will hit product manufacturing, and selling and administrative expenses will weigh on margins.

Image source: Getty Images.

Meanwhile, total debt roughly doubled over the past year to about $5.1 billion. The dividend yields about 5.8%, but the company's payout ratio -- the amount of dividends paid relative to earnings -- is elevated at 103%, which isn't sustainable unless earnings grow.

CEO Linda Rendle expressed caution for the next year: "As we begin fiscal year 2027, we expect the operating environment to remain challenging, with continued cost volatility and a value-seeking consumer."

At about 15 times fiscal 2027 consensus earnings estimates, the stock isn't expensive. Still, given flat sales, GOJO integration costs, higher debt, and a stretched dividend payout ratio, investors may want to wait before buying shares.

John Ballard has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Key Points

BlackBerry CEO John Giamatteo sees AI-powered robots as a major growth opportunity, with robotics already among the fastest-growing businesses in its QNX software division.BlackBerry’s QNX royalty backlog has surpassed $1.2 billion, while its partnership with Nvidia is opening new opportunities in robotics and industrial automation.BlackBerry CEO John Giamatteo sees artificial intelligence-powered robots as a major growth opportunity for the former smartphone king.

Once one of the world's biggest mobile phone makers, Canada-based BlackBerry has reinvented itself.

The company's QNX operating system, which provides underlying software for features ranging from braking systems to some semi-autonomous driving functions, is now embedded in more than 275 million vehicles worldwide. But the company is increasingly looking beyond the automotive industry to capitalize on the emerging market for physical AI.

"While the products we sell today can't be held in the palm of your hand, they're pervasive around you," Giamatteo told CNBC's Jim Cramer on Monday. "275 million cars, robots, governments, medical instrumentation, supply chain. That's the new BlackBerry, and that's what's driving all of our growth."

Robotics has already emerged as one of the fastest-growing businesses within QNX, according to Giamatteo. Unlike generative AI, which produces text and images, physical AI allows robots and other machines to interact with the real world. BlackBerry sees an opportunity to provide the underlying software that helps those machines operate safely and reliably, building on its experience in the automotive industry.

That opportunity is contributing to BlackBerry's growing backlog. The company recently announced that its QNX royalty backlog surpassed $1.2 billion, increasing by more than $250 million over two quarters. Giamatteo identified three drivers behind that growth: automakers' transition to more advanced computing systems, expanded software offerings, and emerging demand for physical AI applications.

Investors have taken notice of the turnaround. BlackBerry shares have surged 142% in 2026, following years of struggles for a company whose formerly ubiquitous handhelds with physical keyboards ruled the smartphone world before Apple's iPhone and other devices that were fully touchscreen. Back then called Research in Motion, the stock saw its market cap peak at nearly $85 billion in 2008, a year after the first iPhone. BlackBerry's current market cap is about $5.4 billion.

Giamatteo also highlighted BlackBerry's partnership with Nvidia, which began in the automotive sector. Nvidia has now "standardized on QNX as the platform of choice" for its Halos Safety Stack, Giamatteo said. "That has opened up so many doors, an incredible pipeline of opportunity, and these are things like AMRs (automated mobile robots), autonomous forklifts, skateboards that are driving pallets to the docking station."

Public Storage (PSA - Free Report) came out with quarterly funds from operations (FFO) of $4.34 per share, beating the Zacks Consensus Estimate of $4.27 per share. This compares to FFO of $4.31 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an FFO surprise of +1.64%. A quarter ago, it was expected that this self-storage facility real estate investment trust would post FFO of $4.25 per share when it actually produced FFO of $4.17, delivering a surprise of -1.88%.

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

Public Storage, which belongs to the Zacks REIT and Equity Trust - Other industry, posted revenues of $1.37 billion for the quarter ended September 2026, surpassing the Zacks Consensus Estimate by 7.95%. This compares to year-ago revenues of $1.22 billion. The company has topped consensus revenue estimates four times over the last four quarters.

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

Public Storage shares have added about 19.4% since the beginning of the year versus the S&P 500's gain of 11.4%.

What's Next for Public Storage?While Public Storage 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 FFO outlook. Not only does this include current consensus FFO expectations for the coming quarter(s), but also how these expectations have changed lately.

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

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

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus FFO estimate is $4.26 on $1.26 billion in revenues for the coming quarter and $16.93 on $4.96 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, REIT and Equity Trust - Other is currently in the top 36% 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.

Sabra Healthcare (SBRA - Free Report) , another stock in the same industry, has yet to report results for the quarter ended September 2026. The results are expected to be released on November 2.

This health care real estate investment trust is expected to post quarterly earnings of $0.40 per share in its upcoming report, which represents a year-over-year change of +5.3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Sabra Healthcare's revenues are expected to be $235.05 million, up 23.7% from the year-ago quarter.

, /PRNewswire/ -- Southwest Airlines Co. (NYSE: LUV) (the "Company") today announced that it has priced an underwritten public offering of $1,250,000,000 aggregate principal amount of its senior notes, consisting of $600,000,000 aggregate principal amount of 5.750% Notes due 2029 (the "2029 Notes") and $650,000,000 aggregate principal amount of 6.000% Notes due 2031 (the "2031 Notes" and, collectively with the 2029 Notes, the "Notes").

The Company expects to use the net proceeds from the offering for general corporate purposes, which may include, but are not limited to, the repayment at maturity of all of the Company's outstanding $300 million aggregate principal amount of 3.000% notes due November 15, 2026, as well as the repayment or redemption of other indebtedness or other corporate obligations. The offering is expected to close on or about November 2, 2026, subject to customary closing conditions.

Barclays Capital Inc., BNP Paribas Securities Corp., Standard Chartered Bank, U.S. Bancorp Investments, Inc., and Wells Fargo Securities, LLC are acting as joint book-running managers for the offering. A shelf registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission ("SEC") and has become effective. The offering may be made only by means of a prospectus supplement and an accompanying base prospectus. The preliminary prospectus supplement and accompanying base prospectus relating to the offering have been filed, and a final prospectus supplement will be filed, with the SEC and will be available on the SEC's website at www.sec.gov. Copies of the preliminary prospectus supplement and accompanying base prospectus relating to the offering may be obtained from (1) Barclays Capital Inc., 745 Seventh Avenue, New York, New York 10019, United States of America, Attention: Syndicate Registration, Facsimile: (646) 834-8133; (2) BNP Paribas Securities Corp., 787 Seventh Avenue, New York, New York 10019, Attention: Debt Syndicate Desk, Email: [email protected]; (3) Standard Chartered Bank, One Basinghall Avenue, London EC2V 5DD, United Kingdom, Tel: +44 207-885-8888, Email: [email protected], Attention: Capital Markets; (4) U.S. Bancorp Investments, Inc., 214 N. Tryon Street, 26th Floor, Charlotte, North Carolina 28202, Attention: Credit Fixed Income, Facsimile: (877) 774-3462; and (5) Wells Fargo Securities, LLC, 608 2nd Avenue South, Suite 1000, Minneapolis, Minnesota 55402, Attention: WFS Customer Service, Email: [email protected], Toll-Free: (800) 645-3751.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the Notes or any other securities and shall not constitute an offer, solicitation, or sale in any jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to the registration and qualification under the securities laws of such state or jurisdiction.

About Southwest Airlines Co.
Southwest Airlines Co. operates Southwest Airlines, a major passenger airline that provides scheduled air transportation in the United States and near-international markets. We commenced service on June 18, 1971, with three Boeing 737 aircraft serving three Texas cities: Dallas, Houston, and San Antonio. As of September 30, 2026, we had a total of 803 Boeing 737 aircraft in our fleet and served 120 destinations in the United States and near-international countries.

Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Specific forward-looking statements include, without limitation, statements related to the proposed terms of the offering described herein, the completion, timing, and size of the proposed offering, and the anticipated use of proceeds from the offering. Forward-looking statements involve risks, uncertainties, assumptions, and other factors that are difficult to predict and that could cause actual results to vary materially from those expressed in or indicated by them. Factors include, among others, (i) the impact of geopolitical conflicts, fears or actual outbreaks of diseases, extreme or severe weather and natural disasters, actions of competitors (including, without limitation, pricing, scheduling, capacity, and network decisions, and consolidation and alliance activities), governmental actions, consumer perception, consumer uncertainties with respect to trade policies, tariffs, or government shutdowns, economic conditions, fears or actual acts of terrorism or war, sociodemographic trends, and other factors beyond the Company's control, on consumer behavior and the Company's results of operations and business decisions, plans, strategies, and results; and (ii) other factors, as described in the Company's filings with the SEC, including the detailed factors discussed under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2025.

Forward-looking statements should not be relied upon as a prediction of actual results. Subject to any continuing obligations under applicable law or any relevant stock exchange rules, the Company expressly disclaims any obligation to disseminate, after the date of this press release, any updates or revisions to any such forward-looking statements to reflect any change in expectations or events, conditions or circumstances on which any such statements are based.

SOURCE Southwest Airlines Co.

Applied enters into agreement to increase its investment to approximately 20 percent of outstanding shares, reinforcing the companies’ long-term strategic partnership in advanced packaging  | Source: Applied Materials, Inc.

SANTA CLARA, Calif., Oct. 26, 2026 (GLOBE NEWSWIRE) -- Applied Materials, Inc. (Nasdaq: AMAT) today announced it is increasing its investment in BE Semiconductor Industries N.V. (Besi) (Euronext Amsterdam: BESI), a leading manufacturer of assembly equipment for the semiconductor industry, to approximately 20 percent of Besi’s outstanding shares. The share purchase would add to Applied Materials’ current investment in Besi, which Applied initially made in April 2025.

The companies have a longstanding strategic collaboration, which began in 2020 and was recently expanded with Besi joining Applied Materials’ EPIC Center as an Innovation Partner. The expanded partnership extends the companies’ co-innovation beyond hybrid bonding into new interconnect architectures and applications supporting the semiconductor industry’s AI-driven scaling roadmap. Areas of collaboration include next-generation 3D IC scaling, logic and memory integration, scaling of thermo-compression bonding and new die-on-wafer, die-on-die and die-on-panel integration platforms.

“Applied Materials is adding to its investment in Besi as hybrid bonding technology and next-generation interconnect architectures become increasingly critical enablers of energy-efficient AI compute performance,” said Dr. Prabu Raja, President of the Semiconductor Products Group at Applied Materials. “We also look forward to furthering our strategic collaboration with Besi and delivering the innovative products and technologies our customers need to scale AI systems.”

Applied Materials has entered into an accelerated share purchase agreement for the Besi shares, and the delivery of the shares is subject to the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the HSR Act).

Applied Materials views its investment in Besi as long term. Applied currently has no intention to increase its investment in Besi beyond approximately 20 percent, and Applied does not intend to seek board representation at Besi.

Forward-Looking Statements
This press release contains forward-looking statements regarding the purchase of Besi shares by Applied Materials. These statements and their underlying assumptions are subject to risks and uncertainties. Factors that could cause actual results to differ materially from those expressed or implied by such statements include the expiration or termination of the applicable waiting period under the HSR Act and the risks and uncertainties described in our filings with the Securities and Exchange Commission, including our most recent Forms 10-K, 10-Q and 8-K. All forward-looking statements are based on management’s current estimates, projections and assumptions, and we assume no obligation to update them.

About Applied Materials
Applied Materials, Inc. (Nasdaq: AMAT) is the leader in materials engineering solutions that are at the foundation of virtually every new semiconductor and advanced display in the world. The technology we create is essential to advancing AI and accelerating the commercialization of next-generation chips. At Applied, we push the boundaries of science and engineering to deliver material innovation that changes the world. Learn more at www.appliedmaterials.com.

Contact:
Ricky Gradwohl (editorial/media) 408.235.4676
Mike Sullivan (financial community) 408.986.7977

, /PRNewswire/ -- Adecoagro S.A. (NYSE: AGRO), a leading sustainable production company in South America, announces its Board of Directors has approved a cash dividend distribution:   

Amount to be Distributed: $17.5 millionDividend per Share: ~$0.12128986Record Date: November 5, 2026Payment Date: November 19, 2026This dividend distribution is the second of a two-tranche cash dividend payable in two installments.

The first installment was paid on May 19, 2026, in an equal cash amount, resulting in an annual  cash dividend of $35 million.

About Adecoagro:
Adecoagro is a leading sustainable production company in South America. Adecoagro owns 210.4 thousand hectares of farmland and several industrial facilities spread across the most productive regions of Argentina, Brazil and Uruguay, where it produces 1.3 million tons of fertilizers, 3.1 million tons of agricultural products and over 1 million MWh of renewable electricity.

For questions please contact:
Victoria Cabello
IR Officer
Email: [email protected]

SOURCE Adecoagro S.A.

After dropping 8.3% last week, Lumentum Holdings (LITE +8.19%) stock is starting the last week of October trading on an auspicious note. With a financial services firm initiating coverage and taking a bullish stance on the developer of optical and photonic technologies, investors have found sufficient grounds to click the buy button.

Lumentum shares closed 8.2% higher from their closing price on Friday, Oct. 23.

Image source: Getty Images.

Another firm sees ample room for this tech stock to runInitiating coverage with a buy rating, StoneX set a $1,200 price target on Lumentum stock this morning. According to Thefly.com, the financial services firm based its outlook, in part, on management's acknowledgment that it has AI-related optoelectronic capacity that is effectively committed into the early part of 2029.

LITE Lumentum$818.10+$61.93 (+8.19%)

NASDAQ · As of 4:00 PM ET 10/26/26

Based on Lumentum’s closing price of $756.17 on Oct. 23, the StoneX price target implies 59% upside.

On Oct. 20, Jefferies also adopted a more bullish perspective on Lumentum stock, raising its price target to $1,250 from $1,200.

In addition to AI computing, Lumentum develops optical and photonic technologies that support the networks and infrastructure for cloud computing and other advanced communications.

Is Lumentum stock a buy now?While StoneX sees Lumentum stock soaring in the coming months, investors would be smart to take a more cautious approach to the tech stock and not rush out to load up on shares. Lumentum stock is changing hands at 54.1 times operating cash flow, a premium to its five-year average cash flow multiple of 15.4.

For those interested in Lumentum stock, it will be important to see whether the company meets its first-quarter 2027 guidance -- revenue of $1.23 billion to $1.28 billion and adjusted diluted net income per share of $4.05 to $4.35 -- and then reevaluate whether buying shares is a smart move.

Scott Levine has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Jefferies Financial Group and Lumentum. The Motley Fool has a disclosure policy.

CINCINNATI, Oct. 26, 2026 (GLOBE NEWSWIRE) -- Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO” or the “Company”), one of the nation’s largest owners and operators of high-quality, grocery-anchored neighborhood shopping centers, today reported financial and operating results for the period ended September 30, 2026 and provided updated 2026 earnings guidance. For the three and nine months ended September 30, 2026, net income attributable to stockholders was $62.7 million, or $0.49 per diluted share, and $134.2 million, or $1.05 per diluted share, respectively.

Highlights for the Third Quarter

Reported Nareit FFO of $0.69 per diluted share, representing 7.8% year-over-year growthReported Core FFO of $0.71 per diluted share, representing 9.2% year-over-year growthIncreased same-center NOI year-over-year by 5.3%The increased midpoint of full year 2026 Nareit FFO per diluted share guidance of $2.70 represents 6.3% year-over-year growthThe increased midpoint of full year 2026 Core FFO per diluted share guidance of $2.77 represents 6.5% year-over-year growthThe increased midpoint of full year 2026 same-center NOI guidance represents 3.75% year-over-year growthFull year 2026 gross acquisitions guidance reflects a range of $600 million to $700 millionAcquired two grocery-anchored shopping centers, one Everyday Retail™ center and land parcels for a total of $181.8 million and sold $87.1 million in assetsReported strong leased portfolio occupancy of 97.5% and same-center leased portfolio occupancy of 97.8%Reported leased anchor occupancy of 99.0% and same-center leased anchor occupancy of 99.2%Reported leased inline occupancy of 95.1% and same-center leased inline occupancy of 95.4%Executed comparable portfolio new and inline leases at a rent spread of 26.3% during the quarterExecuted comparable portfolio renewal leases at a record rent spread of 25.2% and comparable inline renewal leases at a record-high rent spread of 24.2% during the quarterGenerated net proceeds of $6.4 million through the issuance of 0.2 million common shares at a gross weighted average price of $42.20 per common share through PECO’s ATM programTrailing 12-month net debt to annualized adjusted EBITDAre at September 30, 2026 was 5.2x Subsequent Highlights

Acquired two grocery-anchored shopping centers for $59.4 million at PECO’s total prorated share and sold a land parcel for $0.9 millionYear to date through October 26, 2026, acquired $519.1 million in assets at PECO’s total prorated share and sold $174.8 million in assetsExpanded and extended by 10 years the joint venture partnership with Northwestern Mutual to acquire 13 high-quality, grocery-anchored shopping centers valued at approximately $377.5 million and currently owned and operated by PECO across eight statesClosed on a new $350 million unsecured term loan with a portion of proceeds used to pay down the $162 million term loan due January 2027, lowering the interest rate by approximately 30 basis points Management Commentary

Jeff Edison, Chairman and Chief Executive Officer of PECO stated: “PECO delivered another quarter of strong financial results, and the operating environment remains solid. Our record renewal rent spreads and high occupancy showcase the strength of PECO’s operating engine. PECO combines right-sized and well-located, grocery-anchored neighborhood shopping centers that support successful necessity-based retailers with a team that converts retailer demand into durable internal growth.”

Edison added: “We continue to match fund our external growth by selling stabilized centers and investing in centers with greater growth potential. Our leasing relationships, operating platform and market data give us a meaningful advantage when executing acquisitions. The embedded growth, together with our disciplined approach to investing, position PECO well for 2027 and beyond.”

Financial Results

Net Income

Third quarter 2026 net income attributable to stockholders totaled $62.7 million, or $0.49 per diluted share, compared to net income of $24.7 million, or $0.20 per diluted share, during the third quarter of 2025.

For the nine months ended September 30, 2026, net income attributable to stockholders totaled $134.2 million, or $1.05 per diluted share, compared to net income of $63.8 million, or $0.51 per diluted share, for the same period in 2025.

Nareit FFO

Third quarter 2026 funds from operations attributable to stockholders and operating partnership (“OP”) unit holders as defined by Nareit (“Nareit FFO”) increased 9.8% to $98.0 million, or $0.69 per diluted share, compared to $89.3 million, or $0.64 per diluted share, during the third quarter of 2025.

For the nine months ended September 30, 2026, Nareit FFO increased 7.7% to $284.6 million, or $2.03 per diluted share, compared to $264.3 million, or $1.90 per diluted share, during the same period in 2025.

Core FFO

Third quarter 2026 core funds from operations attributable to stockholders and OP unit holders (“Core FFO”) increased 11.3% to $100.7 million, or $0.71 per diluted share, compared to $90.6 million, or $0.65 per diluted share, during the third quarter of 2025.

For the nine months ended September 30, 2026, Core FFO increased 8.6% to $292.6 million, or $2.09 per diluted share, compared to $269.5 million, or $1.94 per diluted share, for the same period in 2025.

Same-Center NOI

Third quarter 2026 same-center net operating income (“NOI”) increased 5.3% to $122.4 million, compared to $116.2 million during the third quarter of 2025.

For the nine months ended September 30, 2026, same-center NOI increased 4.3% to $361.8 million, compared to $346.9 million during the same period in 2025.

Portfolio Overview

Portfolio Statistics

As of September 30, 2026, PECO’s wholly-owned portfolio consisted of 300 properties, totaling approximately 33.9 million square feet, located in 31 states. This compared to 303 properties, totaling approximately 34.0 million square feet, located in 31 states as of September 30, 2025.

Leased portfolio occupancy was 97.5% as of September 30, 2026, compared to 97.6% as of September 30, 2025. Same-center leased portfolio occupancy was 97.8% as of September 30, 2026 and 2025.

Leased anchor occupancy was 99.0% as of September 30, 2026, compared to 99.2% as of September 30, 2025. Same-center leased anchor occupancy was 99.2% as of September 30, 2026, compared to 99.4% as of September 30, 2025.

Leased inline occupancy was 95.1% as of September 30, 2026, compared to 94.8% as of September 30, 2025. Same-center leased inline occupancy was 95.4% as of September 30, 2026, compared to 95.0% as of September 30, 2025.

Leasing Activity

During the third quarter of 2026, 238 leases were executed totaling approximately 1.1 million square feet. This compared to 270 leases executed totaling approximately 1.7 million square feet during the third quarter of 2025.

For the nine months ended September 30, 2026, 788 leases were executed totaling approximately 3.9 million square feet. This compared to 780 leases executed totaling approximately 4.6 million square feet during the same period in 2025.

During the third quarter of 2026, comparable rent spreads, which represent the percentage increase of a lease to the expiring lease of a unit that was occupied within the past twelve months, were a record-high 25.2% for renewal leases, 26.3% for new leases and 25.5% combined.

Comparable rent spreads during the nine months ended September 30, 2026 were 32.3% for new leases, 22.3% for renewal leases and 24.9% combined.

Transaction Activity - Wholly-Owned

During the third quarter of 2026, the Company acquired $181.8 million in assets, which included three shopping centers and land parcels. The Company expects to drive value in these assets through occupancy increases and rent growth, as well as potential future development of ground-up outparcel retail spaces.

The third quarter 2026 acquisitions included:

South Shore Commons, a 157,574 square foot Everyday Retail™ center located in Staten Island, New York.Alafaya Square, a 168,532 square foot shopping center anchored by Publix located in an Orlando, Florida suburb.Easton Commons, a 203,728 square foot shopping center anchored by Kroger located in a Houston, Texas suburb. During the same period, the Company sold $87.1 million in assets, which included five shopping centers and a land parcel.

For the nine months ended September 30, 2026, the Company acquired $448.7 million in assets, which included 13 shopping centers and land parcels. During the same period, $174.0 million in assets were sold, which included nine shopping centers and land parcels.

Subsequent to quarter end, the Company acquired $52.8 million in assets, which included:

Rice Lake Square, a 258,525 square foot shopping center anchored by Pete’s Fresh Market located in a Chicago, Illinois suburb. Subsequent to quarter end, the Company sold a land parcel for $0.9 million.

Transaction Activity - Joint Venture

For the nine months ended September 30, 2026, the Company acquired $11.0 million in assets at PECO’s total prorated share, which included one shopping center and one outparcel.

Subsequent to quarter end, the Company acquired $6.6 million in assets at PECO’s total prorated share, which included:

Memorial Commons, a 111,022 square foot shopping center anchored by Harris Teeter located in a Charlotte, North Carolina suburb, acquired through Neighborhood Grocery Catalyst Fund LLC. The Company previously announced on October 1, 2026 an amended and restated joint venture partnership with Northwestern Mutual, one of the largest commercial real estate mortgage and equity investors in the U.S., which extends the term of the venture, Grocery Retail Partners I LLC (“GRP I”), by 10 years to 2036. The expanded joint venture will acquire 13 high-quality, grocery-anchored shopping centers currently owned and operated by PECO across eight states. Northwestern Mutual and PECO will retain approximately 86% and 14% interest in the joint venture, respectively. PECO will continue to provide leasing, asset management and property management services for the joint venture, in addition to earning recurring fees related to these services.

Balance Sheet Highlights

Subsequent to quarter end, the Company closed on a new $350 million unsecured term loan facility. The term loan facility has a three-year term maturing on October 23, 2029 and will initially bear interest at an annual rate of SOFR plus 0.80%, with future pricing subject to adjustment based on the Company's credit ratings and leverage ratio. Phillips Edison Grocery Center Operating Partnership I, L.P., a subsidiary of the Company and the borrower under the term loan facility (the “Borrower”), borrowed $175 million of the term loan facility at closing with the remaining $175 million available to draw on or before April 21, 2027. The term loan also has an uncommitted accordion feature allowing the Borrower to borrow up to an additional $450 million of term loans, for total term loans of up to $800 million. The Borrower has the ability to prepay the term loan under the facility without premium or penalty any time prior to maturity. Proceeds from the initial $175 million borrowing were used to pay down the Borrower's outstanding $161.8 million term loan along with outstanding balances under its $1 billion revolving credit facility.

As of September 30, 2026, the Company had approximately $762 million of total liquidity, comprised of $17.9 million of cash, cash equivalents and restricted cash, plus $744.3 million of borrowing capacity available on its $1.0 billion revolving credit facility. Pro forma for the new $350 million unsecured term loan, the Company had approximately $950 million of total liquidity.

As of September 30, 2026, the Company’s net debt to adjusted EBITDAre was 5.2x on a trailing twelve month basis and 5.0x on a current quarter annualized basis, which compares to 5.2x and 5.1x, respectively, as of December 31, 2025. As of September 30, 2026, the Company’s outstanding debt had a weighted-average interest rate of 4.5% and a weighted-average maturity of 5.3 years when including all extension options, and 85.2% of the Company’s total debt was fixed-rate debt, which includes PECO’s total prorated share of debt for its joint ventures.

During the third quarter of 2026, the Company generated net proceeds of $6.4 million through the issuance of 0.2 million common shares at a gross weighted average price of $42.20 per common share through PECO’s ATM program. For the nine months ended September 30, 2026, the Company generated net proceeds of $91.7 million through the issuance of 2.2 million common shares at a gross weighted average price of $42.07 per common share through PECO’s ATM program.

The Company’s interest rate swap with a notional value of $200 million and a fixed rate of 3.359% expired on September 1, 2026.

2026 Guidance and Expectations

PECO updated its 2026 earnings guidance and expectations, as summarized in the table below, which is based upon the Company’s current view of existing market conditions and assumptions for the year ending December 31, 2026. The following statements are forward-looking and actual results could differ materially depending on market conditions and the factors set forth under "Forward-Looking Statements" below.

(in thousands, except per share amounts)Q3 2026 YTD Updated Full Year
2026 Guidance and Expectations Previous Full Year
2026 Guidance and ExpectationsNet income per share - diluted$1.05 $1.21 - $1.24 $0.95 - $0.97Nareit FFO per share - diluted$2.03 $2.68 - $2.72 $2.67 - $2.72Core FFO per share - diluted$2.09 $2.75 - $2.79 $2.73 - $2.79Same-Center NOI growth4.3% 3.50% - 4.00% 3.40% - 4.00%Portfolio Activity:     Acquisitions, gross(1)$459,705 $600,000 - $700,000 $600,000 - $700,000Dispositions$173,994 $175,000 - $210,000 $200,000 - $250,000Contributions to joint ventures, net(2)$— $200,000 - $250,000 $200,000 - $250,000Other:     Interest expense, net$87,284 $116,000 - $120,000 $117,000 - $127,000G&A expense$37,424 $51,000 - $53,000 $49,000 - $53,000Non-cash revenue items(3)$17,158 $22,000 - $24,000 $21,000 - $23,000Adjustments for collectibility$3,773 $4,500 - $6,000 $4,000 - $7,000       (1)   Includes the prorated portion owned through the Company’s unconsolidated joint ventures.
(2)   Subsequent to quarter end, contributions to Grocery Retail Partners I LLC were $138.6 million.
(3)   Represents straight-line rental income and net amortization of above- and below-market leases.

The Company does not provide a reconciliation for same-center NOI estimates on a forward-looking basis because it is unable to provide a meaningful or reasonably accurate calculation or estimation of certain reconciling items which could be significant to the Company’s results without unreasonable effort.

The following table provides a reconciliation of the range of the Company's 2026 estimated net income to estimated Nareit FFO and Core FFO:

(Unaudited)Low End High EndNet income per share attributable to stockholders - diluted$1.21  $1.24 Depreciation and amortization of real estate assets 1.90   1.91 Gain on disposal of property, net (0.48)  (0.48)Adjustments related to unconsolidated joint ventures 0.05   0.05 Nareit FFO attributable to stockholders and OP unit holders
per share - diluted$2.68  $2.72 Depreciation and amortization of corporate assets 0.01   0.01 Loss on extinguishment or modification of debt and other, net 0.01   0.01 Transaction costs and other 0.05   0.05 Core FFO attributable to stockholders and OP unit holders
per share - diluted$2.75  $2.79          Conference Call and Webcast Details

PECO will host a conference call and webcast on Tuesday, October 27, 2026 at 12:00 p.m. Eastern Time to discuss third quarter 2026 results and provide further business updates. Chairman and Chief Executive Officer Jeff Edison, President Bob Myers and Chief Financial Officer John Caulfield will host the conference call and webcast. Dial-in and webcast information is below.

Third Quarter 2026 Earnings Conference Call and Webcast Details:

Date: Tuesday, October 27, 2026
Time: 12:00 p.m. ET
Toll-Free Dial-In Number: (800) 715-9871
International Dial-In Number: (646) 307-1963
Conference ID: 4551083
Webcast: Third Quarter 2026 Webcast Link

Replay:

An audio replay will be available approximately one hour after the conclusion of the conference call using the webcast link above. The replay will be archived on PECO’s Investor Relations website under Events & Presentations.

For more information on the Company’s financial results, please refer to the Company’s Form 10-Q for the quarter ended September 30, 2026.

Connect with PECO

For additional information, please visit https://www.phillipsedison.com/  

Follow PECO on:

X at https://x.com/PhillipsEdisonLinkedIn at https://www.linkedin.com/company/phillipsedison&company About Phillips Edison & Company

Phillips Edison & Company, Inc. (“PECO”) is one of the nation’s largest owners and operators of high-quality, grocery-anchored neighborhood shopping centers. Founded in 1991, PECO has generated strong results through its vertically-integrated operating platform and national footprint of well-occupied shopping centers. PECO’s centers feature a mix of national and regional retailers providing necessity-based goods and services in fundamentally strong markets throughout the United States. PECO’s top grocery anchors include Kroger, Publix, Albertsons and Ahold Delhaize. As of September 30, 2026, PECO managed 328 shopping centers, including 300 wholly-owned centers comprising 33.9 million square feet across 31 states and 28 shopping centers owned in three institutional joint ventures. PECO is focused on creating great grocery-anchored shopping experiences and improving communities, one neighborhood shopping center at a time.

PECO uses, and intends to continue to use, its Investors website, which can be found at https://investors.phillipsedison.com, as a means of disclosing material nonpublic information and for complying with its disclosure obligations under Regulation FD.

PHILLIPS EDISON & COMPANY, INC.
CONSOLIDATED BALANCE SHEETS
AS OF SEPTEMBER 30, 2026 AND DECEMBER 31, 2025
(Condensed and Unaudited)
(In thousands, except per share amounts)

 September 30, 2026 December 31, 2025ASSETS   Investment in real estate:   Land and improvements$1,988,992  $1,963,735 Building and improvements 4,467,013   4,305,174 In-place lease assets 543,721   538,324 Above-market lease assets 82,600   77,551 Total investment in real estate assets 7,082,326   6,884,784 Accumulated depreciation and amortization (2,026,479)  (1,957,569)Net investment in real estate assets 5,055,847   4,927,215 Investment in unconsolidated joint ventures 47,252   42,561 Total investment in real estate assets, net 5,103,099   4,969,776 Cash and cash equivalents 8,903   3,544 Restricted cash 9,018   39,768 Goodwill 29,066   29,066 Other assets, net 248,820   244,284 Real estate investments and other assets held for sale 152,148   — Total assets$5,551,054  $5,286,438     LIABILITIES AND EQUITY   Liabilities:   Debt obligations, net$2,521,454  $2,375,328 Below-market lease liabilities, net 138,387   118,356 Accounts payable and other liabilities 153,103   180,332 Deferred income 32,733   23,044 Liabilities of real estate investments held for sale 6,083   — Total liabilities 2,851,760   2,697,060 Equity:   Preferred stock, $0.01 par value per share, 10,000 shares authorized, zero shares issued and outstanding at September 30, 2026 and December 31, 2025 —   — Common stock, $0.01 par value per share, 1,000,000 shares authorized, 128,912 and 125,788 shares issued and outstanding at September 30, 2026 and December 31, 2025, respectively 1,289   1,258 Additional paid-in capital 3,778,531   3,664,205 Accumulated other comprehensive income 181   358 Accumulated deficit (1,370,225)  (1,379,252)Total stockholders’ equity 2,409,776   2,286,569 Noncontrolling interests 289,518   302,809 Total equity 2,699,294   2,589,378 Total liabilities and equity$5,551,054  $5,286,438         
PHILLIPS EDISON & COMPANY, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2026 AND 2025
(Condensed and Unaudited)
(In thousands, except per share amounts)

 Three Months Ended September 30, Nine Months Ended September 30,  2026   2025   2026   2025 Revenues:       Rental income$188,944  $178,293  $559,676  $525,943 Fees and management income 3,464   3,274   10,963   9,373 Other property income 680   1,102   2,809   3,417 Total revenues 193,088   182,669   573,448   538,733 Operating Expenses:       Property operating 31,193   30,197   96,266   89,455 Real estate taxes 23,343   22,226   67,923   64,584 General and administrative 11,906   12,752   37,424   37,760 Depreciation and amortization 68,858   65,603   201,229   202,080 Total operating expenses 135,300   130,778   402,842   393,879 Other:       Interest expense, net (28,118)  (28,544)  (87,284)  (81,935)Gain on disposal of property, net 40,605   4,255   66,812   9,798 Other expense, net (1,651)  (374)  (3,014)  (2,344)Net income 68,624   27,228   147,120   70,373 Net income attributable to noncontrolling interests (5,946)  (2,543)  (12,947)  (6,595)Net income attributable to stockholders$62,678  $24,685  $134,173  $63,778 Earnings per share of common stock:       Net income per share attributable to stockholders - basic$0.49  $0.20  $1.06  $0.51 Net income per share attributable to stockholders - diluted$0.49  $0.20  $1.05  $0.51                  Discussion and Reconciliation of Non-GAAP Measures Same-Center Net Operating Income

The Company presents Same-Center NOI as a supplemental measure of its performance. The Company defines NOI as total operating revenues, adjusted to exclude non-cash revenue items and lease buyout income, less property operating expenses and real estate taxes. For the three and nine months ended September 30, 2026 and 2025, Same-Center NOI represents the NOI for the 275 properties that were wholly-owned for the entirety of both calendar year periods being compared. The Company believes Same-Center NOI provides useful information to its investors about its financial and operating performance because it provides a performance measure of the revenues and expenses directly involved in owning and operating real estate assets and provides a perspective not immediately apparent from net income (loss). Because Same-Center NOI excludes the change in NOI from properties acquired or disposed of after December 31, 2024, it highlights operating trends such as occupancy levels, rental rates, and operating costs for the Company’s same-center portfolio. Other REITs may use different methodologies for calculating Same-Center NOI, and accordingly, PECO’s Same-Center NOI may not be comparable to other REITs.

Same-Center NOI should not be viewed as an alternative measure of the Company’s financial performance as it does not reflect the operations of its entire portfolio, nor does it reflect the impact of general and administrative expenses, depreciation and amortization, interest expense, other income (expense), or the level of capital expenditures and leasing costs necessary to maintain the operating performance of the Company’s properties that could materially impact its results from operations.

Nareit Funds from Operations and Core Funds from Operations

Nareit FFO is a non-GAAP financial performance measure that is widely recognized as a measure of REIT operating performance. The National Association of Real Estate Investment Trusts (“Nareit”) defines FFO as net income (loss) computed in accordance with GAAP, excluding: (i) gains (or losses) from sales of property and gains (or losses) from change in control; (ii) depreciation and amortization related to real estate; and (iii) impairment losses on real estate and impairments of in-substance real estate investments in investees that are driven by measurable decreases in the fair value of the depreciable real estate held by the unconsolidated partnerships and joint ventures. Adjustments for unconsolidated partnerships and joint ventures are calculated to reflect Nareit FFO on the same basis. The Company calculates Nareit FFO in a manner consistent with the Nareit definition.

Core FFO is an additional financial performance measure used by the Company as Nareit FFO includes certain non-comparable items that affect its performance over time. The Company believes that Core FFO is helpful in assisting management and investors with the assessment of the sustainability of operating performance in future periods, and that it is more reflective of its core operating performance and provides an additional measure to compare PECO’s performance across reporting periods on a consistent basis by excluding items that may cause short-term fluctuations in net income (loss). To arrive at Core FFO, the Company adjusts Nareit FFO to exclude certain recurring and non-recurring items including, but not limited to: (i) depreciation and amortization of corporate assets; (ii) changes in the fair value of the earn-out liability; (iii) adjustments related to its investments in unconsolidated joint ventures; (iv) gains or losses on the extinguishment or modification of debt and other; (v) other impairment charges; (vi) transaction and acquisition expenses; and (vii) realized performance income.

Nareit FFO and Core FFO should not be considered alternatives to net income (loss) under GAAP, as an indication of the Company’s liquidity, nor as an indication of funds available to cover its cash needs, including its ability to fund distributions. Core FFO may not be a useful measure of the impact of long-term operating performance on value if the Company does not continue to operate its business plan in the manner currently contemplated.

Accordingly, Nareit FFO and Core FFO should be reviewed in connection with other GAAP measurements, and should not be viewed as more prominent measures of performance than net income (loss) or cash flows from operations prepared in accordance with GAAP. The Company’s Nareit FFO and Core FFO, as presented, may not be comparable to amounts calculated by other REITs.

Earnings Before Interest, Taxes, Depreciation, and Amortization for Real Estate and Adjusted EBITDAre

Nareit defines Earnings Before Interest, Taxes, Depreciation, and Amortization for Real Estate (“EBITDAre”) as net income (loss) computed in accordance with GAAP before: (i) interest expense; (ii) income tax expense; (iii) depreciation and amortization; (iv) gains or losses from disposition of depreciable property; and (v) impairment write-downs of depreciable property. Adjustments for unconsolidated partnerships and joint ventures are calculated to reflect EBITDAre on the same basis.

Adjusted EBITDAre is an additional performance measure used by the Company as EBITDAre includes certain non-comparable items that affect the Company’s performance over time. To arrive at Adjusted EBITDAre, the Company excludes certain recurring and non-recurring items from EBITDAre, including, but not limited to: (i) changes in the fair value of the earn-out liability; (ii) other impairment charges; (iii) adjustments related to its investments in unconsolidated joint ventures; (iv) transaction and acquisition expenses; and (v) realized performance income.

The Company uses EBITDAre and Adjusted EBITDAre as additional measures of operating performance which allow it to compare earnings independent of capital structure, determine debt service and fixed cost coverage, and measure enterprise value. Additionally, the Company believes they are a useful indicator of its ability to support its debt obligations. EBITDAre and Adjusted EBITDAre should not be considered as alternatives to net income (loss), as an indication of the Company’s liquidity, nor as an indication of funds available to cover its cash needs, including its ability to fund distributions. Accordingly, EBITDAre and Adjusted EBITDAre should be reviewed in connection with other GAAP measurements, and should not be viewed as more prominent measures of performance than net income (loss) or cash flows from operations prepared in accordance with GAAP. The Company’s EBITDAre and Adjusted EBITDAre, as presented, may not be comparable to amounts calculated by other REITs.

Same-Center Net Operating Income—The table below compares Same-Center NOI (dollars in thousands):

 Three Months Ended September 30, Favorable (Unfavorable) Nine Months Ended September 30, Favorable (Unfavorable)  2026   2025  $ Change % Change  2026   2025  $ Change % ChangeRevenues:               Rental income(1)$126,692  $121,549  $5,143    $376,284  $363,146  $13,138   Tenant recovery income 41,047   39,010   2,037     120,900   116,710   4,190   Reserves for uncollectibility(2) (1,232)  (1,265)  33     (2,942)  (3,884)  942   Other property income 779   951   (172)    2,390   2,974   (584)  Total revenues 167,286   160,245   7,041  4.4%  496,632   478,946   17,686  3.7%Operating expenses:               Property operating expenses 23,693   23,824   131     73,254   72,477   (777)  Real estate taxes 21,222   20,259   (963)    61,571   59,574   (1,997)  Total operating expenses 44,915   44,083   (832) (1.9)%  134,825   132,051   (2,774) (2.1)%Total Same-Center NOI$122,371  $116,162  $6,209  5.3% $361,807  $346,895  $14,912  4.3%                               (1)   Excludes straight-line rental income, net amortization of above- and below-market leases, and lease buyout income.
(2)   Includes billings that will not be recognized as revenue until cash is collected or the Neighbor resumes regular payments and/or the Company deems it appropriate to resume recording revenue on an accrual basis, rather than on a cash basis.

Same-Center Net Operating Income Reconciliation—Below is a reconciliation of Net Income to NOI and Same-Center NOI (in thousands):

 Three Months Ended September 30,Nine Months Ended September 30,  2026   2025   2026   2025 Net income$68,624  $27,228  $147,120  $70,373 Adjusted to exclude:       Fees and management income (3,464)  (3,274)  (10,963)  (9,373)Straight-line rental income(1) (3,335)  (2,899)  (9,477)  (7,853)Net amortization of above- and below-market leases (2,607)  (2,204)  (7,690)  (6,276)Lease buyout income (81)  (144)  (1,874)  (2,062)General and administrative expenses 11,906   12,752   37,424   37,760 Depreciation and amortization 68,858   65,603   201,229   202,080 Interest expense, net 28,118   28,544   87,284   81,935 Gain on disposal of property, net (40,605)  (4,255)  (66,812)  (9,798)Other expense, net 1,651   374   3,014   2,344 Property operating expenses related to fees and management income 1,866   989   5,857   2,892 NOI for real estate investments 130,931   122,714   385,112   362,022 Less: Non-same-center NOI(2) (8,560)  (6,552)  (23,305)  (15,127)Total Same-Center NOI$122,371  $116,162  $361,807  $346,895         Period-end Same-Center Leased Occupancy %     97.8%  97.8%             (1)   Includes straight-line rent adjustments for Neighbors for whom revenue is being recorded on a cash basis.
(2)   Includes operating revenues and expenses from non-same-center properties, which includes properties acquired or sold, and corporate activities.

Nareit FFO and Core FFO—The following table presents the Company’s calculation of Nareit FFO and Core FFO and provides additional information related to its operations (in thousands, except per share amounts):

 Three Months Ended
September 30, Nine Months Ended
September 30,  2026   2025   2026   2025 Calculation of Nareit FFO Attributable to Stockholders and OP Unit Holders       Net income$68,624  $27,228  $147,120  $70,373 Adjustments:       Depreciation and amortization of real estate assets 68,478   65,205   200,131   200,908 Gain on disposal of property, net (40,605)  (4,255)  (66,812)  (9,798)Adjustments related to unconsolidated joint ventures 1,493   1,075   4,195   2,834 Nareit FFO attributable to stockholders and OP unit holders$97,990  $89,253  $284,634  $264,317 Calculation of Core FFO Attributable to Stockholders and OP Unit Holders       Nareit FFO attributable to stockholders and OP unit holders$97,990  $89,253  $284,634  $264,317 Adjustments:       Depreciation and amortization of corporate assets 380   398   1,098   1,172 Transaction and acquisition expenses 2,351   893   5,830   4,004 Loss on extinguishment or modification of debt and other, net 155   —   1,235   1 Adjustments related to unconsolidated joint ventures (130)  13   (158)  45 Core FFO attributable to stockholders and OP unit holders$100,746  $90,557  $292,639  $269,539         Nareit FFO/Core FFO Attributable to Stockholders and OP Unit Holders per Diluted Share       Weighted-average shares of common stock outstanding - diluted 141,308   138,860   139,958   138,927 Nareit FFO attributable to stockholders and OP unit holders per share - diluted$0.69  $0.64  $2.03  $1.90 Core FFO attributable to stockholders and OP unit holders per share - diluted$0.71  $0.65  $2.09  $1.94                 
EBITDAre and Adjusted EBITDAre—The following table presents the Company’s calculation of EBITDAre and Adjusted EBITDAre (in thousands):

 Three Months Ended
September 30, Nine Months Ended
September 30, Year Ended
December 31,  2026   2025   2026   2025   2025 Calculation of EBITDAre         Net income$68,624  $27,228  $147,120  $70,373  $122,968 Adjustments:         Depreciation and amortization 68,858   65,603   201,229   202,080   266,374 Interest expense, net 28,118   28,544   87,284   81,935   110,338 Gain on disposal of property, net (40,605)  (4,255)  (66,812)  (9,798)  (38,790)Federal, state, and local tax expense 242   219   726   599   1,307 Adjustments related to unconsolidated joint ventures 2,325   1,652   6,523   4,296   6,200 EBITDAre$127,562  $118,991  $376,070  $349,485  $468,397 Calculation of Adjusted EBITDAre         EBITDAre$127,562  $118,991  $376,070  $349,485  $468,397 Adjustments:         Transaction and acquisition expenses 2,351   893   5,830   4,004   5,523 Adjustments related to unconsolidated joint ventures 1   13   25   45   60 Realized performance income(1) —   —   —   —   (30)Adjusted EBITDAre$129,914  $119,897  $381,925  $353,534  $473,950                      (1)   Realized performance income includes fees received related to the achievement of certain performance targets in the Company’s Necessity Retail Partners joint venture, which was dissolved in December 2025.

Financial Leverage Ratios—The Company believes its net debt to Adjusted EBITDAre, net debt to total enterprise value, and debt covenant compliance as of September 30, 2026 allow it access to future borrowings as needed in the near term. The following table presents the Company’s calculation of net debt and total enterprise value, inclusive of its prorated portion of net debt and cash and cash equivalents owned through its unconsolidated joint ventures, as of September 30, 2026 and December 31, 2025 (in thousands):

 September 30, 2026 December 31, 2025Net debt:   Total debt, excluding discounts, market adjustments, and deferred financing expenses$2,608,082 $2,456,933Less: Cash and cash equivalents 11,251  5,124Total net debt$2,596,831 $2,451,809    Enterprise value:   Net debt$2,596,831 $2,451,809Total equity market capitalization(1)(2) 5,262,774  4,926,872Total enterprise value$7,859,605 $7,378,681       (1)   Total equity market capitalization is calculated as diluted shares multiplied by the closing market price per share, which includes 140.9 million and 138.5 million diluted shares as of September 30, 2026 and December 31, 2025, respectively, and the closing market price per share of $37.34 and $35.57 as of September 30, 2026 and December 31, 2025, respectively.
(2)   Fully diluted shares include common stock and OP units.

The following table presents the Company’s calculation of net debt to Adjusted EBITDAre and net debt to total enterprise value as of September 30, 2026 and December 31, 2025 (dollars in thousands):

 September 30, 2026 December 31, 2025Net debt to Adjusted EBITDAre - annualized:   Net debt$2,596,831  $2,451,809 Adjusted EBITDAre - annualized(1) 502,341   473,950 Net debt to Adjusted EBITDAre - annualized 5.2x   5.2x     Net debt to total enterprise value:   Net debt$2,596,831  $2,451,809 Total enterprise value 7,859,605   7,378,681 Net debt to total enterprise value 33.0%  33.2%         (1)   Adjusted EBITDAre is based on a trailing twelve month period.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Phillips Edison & Company, Inc. (the “Company”) intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with the safe harbor provisions. Such forward-looking statements can generally be identified by the Company’s use of forward-looking terminology such as “may,” “will,” “expect,” “intend,” “anticipate,” “estimate,” “believe,” “continue,” “seek,” “objective,” “goal,” “strategy,” “plan,” “focus,” “priority,” “should,” “could,” “potential,” “possible,” “look forward,” “optimistic,” “commit,” or other similar words. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this earnings release. Such statements include, but are not limited to: (a) statements about the Company’s plans, strategies, initiatives, and prospects; (b) statements about the Company’s underwritten incremental yields; and (c) statements about the Company’s future results of operations, capital expenditures, and liquidity. Such statements are subject to known and unknown risks and uncertainties, which could cause actual results to differ materially from those projected or anticipated, including, without limitation: (i) changes in national, regional, or local economic climates; (ii) local market conditions, including an oversupply of space in, or a reduction in demand for, properties similar to those in the Company’s portfolio; (iii) vacancies, changes in market rental rates, and the need to periodically repair, renovate, and re-let space; (iv) competition from other available shopping centers, potential impact of e-commerce and the attractiveness of properties in the Company’s portfolio to its tenants; (v) the financial stability of the Company’s tenants, including, without limitation, their ability to pay rent; (vi) the Company’s ability to pay down, refinance, restructure, or extend its indebtedness as it becomes due; (vii) increases in the Company’s borrowing costs as a result of changes in interest rates and other factors; (viii) potential liability for environmental matters; (ix) damage to the Company’s properties from catastrophic weather and other natural events, and the physical effects of climate change; (x) the Company’s ability and willingness to maintain its qualification as a REIT in light of economic, market, legal, tax, and other considerations; (xi) changes in laws and regulations, including those related to tax, real estate, environmental, and zoning laws; (xii) cybersecurity incidents or other disruptions to information technology systems; (xiii) the Company’s corporate responsibility initiatives; (xiv) loss of key executives; (xv) the concentration of the Company’s portfolio in a limited number of industries, geographies, or investments; (xvi) the economic, political, and social impact of, and uncertainty relating to, pandemics or other health crises; (xvii) the Company’s ability to re-lease its properties on the same or better terms, or at all, in the event of non-renewal or in the event the Company exercises its right to replace an existing tenant; (xviii) the loss or bankruptcy of the Company’s tenants; (xix) to the extent the Company is seeking to dispose of properties, the Company’s ability to do so at attractive prices or at all; and (xx) the impact of heightened geopolitical instability, international conflicts, tariffs and global trade disruptions on the Company, its tenants, and consumers, including the impact on inflation, supply chains, and consumer sentiment. Additional important factors that could cause actual results to differ are described in the filings made from time to time by the Company with the SEC and include the risk factors and other risks and uncertainties described in the Company’s 2025 Annual Report on Form 10-K, filed with the SEC on February 10, 2026, as updated from time to time in the Company’s periodic and/or current reports filed with the SEC, which are accessible on the SEC’s website at www.sec.gov. Therefore, such statements are not intended to be a guarantee of the Company’s performance in future periods. Except as required by law, the Company does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

Investors:

Kimberly Green, Head of Investor Relations
(513) 692-3399
[email protected]

Hannah Harper, Director of Investor Relations
(513) 824-7122
[email protected]

Collaboration helps financial institutions improve efficiency, expand self-service banking and create new revenue opportunities by pairing Diebold Nixdorf's Cash Recycling ATMs and global field services with Euronet's Ren processing platform and ATM operations expertise

, /PRNewswire/ -- Diebold Nixdorf (NYSE: DBD), a global leader in transforming the way people bank and shop, and Euronet Worldwide, Inc. (NASDAQ: EEFT), a global payments infrastructure company and leader in payments processing and cross-border transactions, today announced their intent to form a global strategic collaboration to develop and deliver integrated ATM outsourcing solutions to financial institutions.

The collaboration pairs Diebold Nixdorf's cash recycling ATMs, software and global field services with Euronet's Ren payments processing platform, integrated automated back-office solutions platform and ATM operations expertise.

Together, the companies aim to help financial institutions improve efficiency, lower operating costs, simplify ATM management and earn additional revenue by unlocking a broader range of transactions at the ATM, while preserving the flexibility needed to build the operating model that works best for them.

As banks seek to improve the efficiency, security and availability of their physical networks, the collaboration will focus on three areas of customer value:

Greater operating efficiency: Leveraging cash recycling ATMs, integrated network management, field services and back-office operations to further reduce replenishment requirements, simplify operations and optimize costs.Expanded transaction and revenue opportunities: Using Euronet's Ren platform and broader payments ecosystem to enable additional financial services and increase the revenue-generating potential of ATM networks.Operational simplicity and flexibility: Providing integrated outsourcing services, including centralized monitoring, coordinated service delivery and ongoing security enhancements, while accommodating customer operating requirements and existing provider relationships.Cash recycling ATMs are already integral to branch transformation. Diebold Nixdorf's Branch Automation Solutions enable financial institutions to migrate the vast majority of traditional teller transactions to self-service channels. By combining these capabilities with Euronet's network operations and transaction processing expertise, the companies aim to further expand the services available through ATMs and create additional value for banks and their customers.

Complementary Strengths

Euronet brings more than three decades of experience in ATM operations and outsourcing for financial institutions. Operating one of the world's largest independent ATM networks, including a significant fleet of cash recycling ATMs, Euronet combines its global Ren transaction processing platform with an integrated Euronet Back Office (EBO) infrastructure.

These capabilities support ATM and recycler monitoring, service coordination and dispatch, cash management, transaction processing, reporting, and ongoing security and compliance enhancements.

Diebold Nixdorf brings decades of self-service banking experience, advanced cash recycling technology, banking software and a global field service organization.

Together, the companies aim to combine proven operating infrastructure with advanced technology and services to improve ATM economics, support operational reliability and expand the role of self-service channels in delivering financial services.

Octavio Marquez, President and Chief Executive Officer of Diebold Nixdorf, said: "Banks are under increasing pressure to improve ATM network efficiency, but the opportunity goes beyond cost reduction. By combining Diebold Nixdorf's cash recycling technology and global field services with Euronet's operating and transaction capabilities, we can help banks lower costs while expanding the financial services available to their customers. This collaboration would build on our branch automation strategy and open new opportunities for growth for our customers."

Michael J. Brown, Chairman and Chief Executive Officer of Euronet Worldwide, said:
"ATM outsourcing has been at the heart of Euronet's business for more than 30 years. Our global network, Ren processing platform and integrated ATM operations give us the scale and experience to run complex ATM estates efficiently and reliably. Combined with Diebold Nixdorf's cash recycling ATMs and global field services, we can help financial institutions simplify operations, improve efficiency and offer a broader range of transactions at the ATM. We see significant potential in this collaboration."

Looking Ahead
In connection with the intent to form a collaboration, Euronet and Diebold Nixdorf have entered into a non-binding letter of intent. Any collaboration or partnership between Euronet and Diebold Nixdorf is subject to the negotiation and execution of definitive agreements. It is anticipated that Euronet and Diebold Nixdorf will develop integrated service offerings pursuant to any collaboration to take advantage of both companies' existing infrastructure, technology and customer relationships, with solutions tailored to customer requirements.

About Diebold Nixdorf

Diebold Nixdorf, Incorporated (NYSE: DBD) automates, digitizes and transforms the way people bank and shop. As a leading global technology and services partner to many of the world's top financial institutions and retailers, our integrated solutions connect digital and physical channels for consumers conveniently, securely and efficiently. The company has a presence in more than 100 countries with approximately 20,000 employees worldwide. Visit www.DieboldNixdorf.com for more information.

X: @DieboldNixdorf
LinkedIn: www.linkedin.com/company/diebold  
Facebook: www.facebook.com/DieboldNixdorf
YouTube: www.youtube.com/dieboldnixdorf

About Euronet Worldwide       

Euronet (NASDAQ: EEFT) is a global payments infrastructure company and leader in payment processing and cross-border transactions, operating for more than 30 years and now serving clients in 200+ countries and territories. We support financial institutions, merchants and global brands with technology-driven solutions, while enabling businesses and consumers to send, receive and spend money seamlessly worldwide. By operating one of the world's largest independent electronic payment networks spanning merchant acquiring, transaction processing and point-of-sale infrastructure, Euronet enables real-time, digital and cross-border movement of money at global scale. In 2025, Euronet processed more than 20 billion transactions across its network. Headquartered in Leawood, Kansas USA, Euronet operates from 74 offices worldwide. For more information, visit www.euronet.com.

Forward-Looking Statements

This press release may contain statements that are not historical information and are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements give current expectations or forecasts of future events and are not guarantees of future performance. These forward-looking statements include, but are not limited to, statements regarding a potential collaboration between Diebold Nixdorf and Euronet. Statements can generally be identified as forward looking because they include words such as "believes," "anticipates," "expects," "intends," "plans," "will," "estimates," "potential," "target," "predict," "project," "seek," and variations thereof or "could," "should" or words of similar meaning. These forward-looking statements involve risks, uncertainties and other factors that may cause actual results to differ materially from those expressed in or implied by the forward-looking statements, including the risk that the parties may not finalize or enter into definitive agreements regarding a collaboration; the final terms of any definitive agreements for a collaboration, which could differ from those implied in the press release; and the parties' ability to realize any or all of the anticipated benefits of the proposed collaboration. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.

DN-C

SOURCE Diebold Nixdorf, Incorporated