Track market-moving stories before they get noisy

A logo of Blackstone is pictured in Manhattan, New York City, U.S. July 29, 2025. REUTERS/Mike Segar/File Photo Purchase Licensing Rights, opens new tab

SummaryCompaniesBidding for MarineMax has moved into third roundDonerail, Blackstone, Centerbridge among interested partiesInvestment firm Donerail began pushing for a sale last yearNEW YORK, July 24 (Reuters) - Investment firms ​Blackstone (BX.N), opens new tab and Donerail are among the final bidders to acquire MarineMax (HZO.N), opens new tab, two people ‌familiar with the matter said on Friday, as the recreational yacht retailer explores selling itself.

The two, as well as private equity firm Centerbridge, are in the final round of bidding for the Clearwater, Florida-headquartered ​company, said the sources who are not permitted to discuss private deliberations.

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MarineMax, which ​has a market value of around $725 million, caters to a wealthy clientele through ⁠its 65 marinas and storage locations and 70 dealerships, mostly in the U.S. It ​has attracted significant interest at a time the marina business has become a popular investment ​area.

Donerail began pushing MarineMax to sell itself or replace its chief executive officer last year, intensifying pressure on the company after Levin Capital in 2024 urged management and the board to evaluate strategic alternatives.

Representatives for MarineMax, ​Blackstone, and Donerail declined to comment. A representative for Centerbridge did not immediately respond ​to a comment request.

The company has made some changes aimed at addressing concerns of disgruntled investors, including replacing ‌board directors, ⁠but has never publicly acknowledged running a sales process including on Thursday when it reported quarterly earnings.

Reuters reported in February that Donerail submitted an all-cash offer which valued MarineMax at around $1 billion. Donerail subsequently raised its offer, while other buyout firms including Blackstone jumped into ​the mix as ​the company formally solicited buyer ⁠interest from April onwards.

Marinas and superyacht services have seen significant dealmaking in the last 18 months, with investment firms being particularly active.

Lower interest ​rates have supported high-end consumers' spending on luxury items like yachts ​even as ⁠other economic brackets are forced to tighten their belts.

Blackstone, through its infrastructure arm, bought Safe Harbor Marinas in 2025 for $5.7 billion. Fellow infrastructure investor Stonepeak acquired marina owner and operator Southern ⁠Marinas in ​April.

MarineMax was trading around $33.30 per share around midday on ​Friday, putting year-to-date gains around 37%. However, it is still trading at roughly half the value of its lifetime ​high hit in May 2021.

Reporting by Svea Herbst-Bayliss; Editing by David French and Sanjeev Miglani

Our Standards: The Thomson Reuters Trust Principles., opens new tab

BALA CYNWYD, Pa., July 24, 2026 (GLOBE NEWSWIRE) -- Brodsky & Smith reminds investors of the following investigations. If you own shares and wish to discuss the investigation, contact Jason Brodsky ([email protected]) or Marc Ackerman ([email protected]) at 855-576-4847. There is no cost or financial obligation to you.

Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering Permian Resources (PR - Free Report) , which belongs to the Zacks Oil and Gas - Exploration and Production - United States industry.

When looking at the last two reports, this company has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 17.39%, on average, in the last two quarters.

For the last reported quarter, Permian Resources came out with earnings of $0.39 per share versus the Zacks Consensus Estimate of $0.38 per share, representing a surprise of 2.63%. For the previous quarter, the company was expected to post earnings of $0.28 per share and it actually produced earnings of $0.37 per share, delivering a surprise of 32.14%.

Price and EPS Surprise

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

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

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Permian Resources currently has an Earnings ESP of +0.77%, which suggests that analysts have recently become bullish on the company's earnings prospects. This positive Earnings ESP when combined with the stock's Zacks Rank #3 (Hold) indicates that another beat is possibly around the corner. We expect the company's next earnings report to be released on August 5, 2026.

When the Earnings ESP comes up negative, investors should note that this will reduce the predictive power of the metric. But, a negative value is not indicative of a stock's earnings miss.

Many companies end up beating the consensus EPS estimate, but that may not be the sole basis for their stocks moving higher. On the other hand, some stocks may hold their ground even if they end up missing the consensus estimate.

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

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

While many investors like to look for momentum in stocks, this can be very tough to define. There is a lot of debate surrounding which metrics are the best to focus on and which are poor quality indicators of future performance. The Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.

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

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

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

Set to Beat the Market? In order to see if TRNO is a promising momentum pick, let's examine some Momentum Style elements to see if this industrial real estate company holds up.

Looking at a stock's short-term price activity is a great way to gauge if it has momentum, since this can reflect both the current interest in a stock and if buyers or sellers have the upper hand at the moment. It's also helpful to compare a security to its industry; this can show investors the best companies in a particular area.

For TRNO, shares are up 8.16% over the past week while the Zacks REIT and Equity Trust - Other industry is up 3.41% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 10.27% compares favorably with the industry's 2.1% performance as well.

While any stock can see its price increase, it takes a real winner to consistently beat the market. That is why looking at longer term price metrics -- such as performance over the past three months or year -- can be useful as well. Over the past quarter, shares of Terreno Realty have risen 10.52%, and are up 25.91% in the last year. In comparison, the S&P 500 has only moved 4.48% and 17.65%, respectively.

Investors should also pay attention to TRNO's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. TRNO is currently averaging 1,109,706 shares for the last 20 days.

Earnings OutlookThe Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. Investors should note that earnings estimates are also significant to the Zacks Rank, and a nice path here can be promising. We have recently been noticing this with TRNO.

Over the past two months, 2 earnings estimates moved higher compared to none lower for the full year. These revisions helped boost TRNO's consensus estimate, increasing from $2.79 to $2.81 in the past 60 days. Looking at the next fiscal year, 2 estimates have moved upwards while there have been no downward revisions in the same time period.

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

Key Takeaways CROX has outperformed peers recently but faces tariff, margin and HEYDUDE-related growth challenges.Crocs is investing in international expansion, marketing and inventory discipline to support long-term growth.CROX trades below the industry P/E but above its historical median valuation despite recent share gains. Crocs, Inc. (CROX - Free Report) has seen its shares rally 28.1% in the past three months, outperforming the industry’s growth of 5.6%. The stock has also outperformed the broader sector’s 4.7% decline and the S&P 500 Index’s 4% increase over the same period.

CROX Stock’s 3-Month Performance
Image Source: Zacks Investment Research

In the past three months, CROX has trailed the performance of Vince Holding Corp. (VNCE - Free Report) while outperforming G-III Apparel Group, Ltd. (GIII - Free Report) and Columbia Sportswear Company (COLM - Free Report) . In the same period, shares of VNCE, GIII and COLM have increased 31.5%, 8.8% and 1%, respectively.

CROX’s Share Price Performance VS Peers
Image Source: Zacks Investment Research

Closing at $132.47 in the last trading session, CROX stock stands 5.7% below its 52-week high of $140.42 reached on July 17, 2026. CROX is trading above its 50-day simple moving average of $120.99 and its 200-day simple moving average of $95.95, indicating a strong technical setup.

CROX Trades Above 50 & 200-Day SMA
Image Source: Zacks Investment Research

Crocs Drives Growth Through Global ExpansionCrocs remains optimistic about its international business, expecting strong growth across its international markets for the remainder of the year and seeing a multiyear runway for expansion in key markets. Management highlighted particularly robust performance in Japan and China, noting that both continue to deliver very strong growth and reinforce the company's long-term global opportunity.

To support future growth, the company is also investing in marketing across both brands to drive demand for new product launches. At the same time, Crocs is maintaining a disciplined approach to inventory and supply chain management, using lean inventory levels to improve productivity and enhance financial flexibility.

Crocs Reports Margin Pressure and Weak Brand PerformanceDespite these long-term growth opportunities, the company is facing the impact of the Middle East conflict and expects these impacts to create several challenges for the Crocs brand. Management identified three potential areas of impact: lower revenue from its Middle East distributor business, which has already been incorporated into its annual guidance; higher raw material and transportation costs associated with elevated oil prices; and the possibility of broader macroeconomic disruptions, the extent of which remains uncertain. These factors could create additional headwinds for the business going forward.

The company faced margin pressure in the first quarter of fiscal 2026, with enterprise adjusted gross margin declining 90 basis points year over year to 56.9%. The decrease was primarily driven by a 100-basis-point impact from incremental tariffs, along with an unfavorable product mix. These headwinds were only partially offset by a favorable brand mix, resulting in an overall decline in gross margin in the first quarter.

Crocs reported weaker performance across both of its key brands in the first quarter of fiscal 2026 while continuing to execute initiatives to return both brands to growth. Sales at the Crocs brand declined 2%, while the HEYDUDE brand recorded a steeper 13% decrease. Both brands reported lower adjusted gross margins in the quarter. Adjusted gross margin for the Crocs brand declined 120 basis points to 59.5%, while the HEYDUDE brand experienced a steeper contraction of 210 basis points, bringing its adjusted gross margin to 44.5%.

Crocs issued a cautious outlook, expecting second-quarter revenues to decline slightly at prevailing currency rates, with continued weakness at the HEYDUDE brand and margin pressure from tariffs. For 2026, the company projects muted enterprise revenue growth between down 1% and up 1%, while HEYDUDE is still expected to post a 5% to 7% sales decline despite an improved outlook.

How Estimates Are Shaped Up for CROX?The Zacks Consensus Estimate for CROX’s current quarter earnings per share has been revised up by 2 cents to $4.32 in the past seven days. The consensus mark for the current year earnings per share has been revised down by a penny to $13.66, reflecting a challenging outlook for the year.

Image Source: Zacks Investment Research

CROX is currently trading at a forward 12-month P/E multiple of 9.29X, lower than the industry average of 15.70X and well below the S&P 500 multiple of 20.80X. However, the stock is trading above its 12-month median P/E of 7.11X, suggesting potential overvaluation relative to its historical valuations.

Crocs’ Valuation Picture
Image Source: Zacks Investment Research

How to Play CROX Stock?Although Crocs continues to see attractive long-term opportunities in international markets, the business is facing mounting near-term challenges that could weigh on financial performance and investor sentiment. Weakening brand momentum and pressure on profitability reduce visibility into the pace of any meaningful recovery, while ongoing macroeconomic uncertainties create additional pressures. Given these risks, existing investors may consider reducing exposure, while prospective investors may prefer to remain on the sidelines until there is clearer evidence of sustained improvement in operating performance and a more favorable business environment. At present, CROX carries a Zacks Rank #4 (Sell).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Key Takeaways WM's Q2 revenues are expected to rise 4.4% y/y to $6.7 billion, with EPS up 3.7% to $1.99.Collection and disposal revenues are projected at $5.5 billion, nearly 82% of WM's quarterly sales.WM's renewable energy revenues are expected to rally 47%, helped by RNG, automation and new markets. WM (WM - Free Report) is scheduled to release second-quarter 2026 results on July 28, 2026, after market close.

WM surpassed the Zacks Consensus Estimate in two of the trailing four quarters and missed twice, the average earnings surprise being 0.6%.

WM’s Q2 ExpectationsThe Zacks Consensus Estimate for revenues is pegged at $6.7 billion, implying a 4.4% gain from the year-ago quarter’s actual. The top line is expected to have been driven by solid momentum across the total collection and disposal segment, contributing toward the majority of the top line. The remaining segments are anticipated to have contributed meaningfully to the top line as well.

The consensus estimate for total collection and disposal segment revenue is set at $5.5 billion, suggesting a 3.9% year-over-year rise. This segment is expected to account for nearly 82% of the top line in the second quarter of 2026. Revenue gains in this segment are likely to have stemmed from a focus on customer lifetime value, continuous operational improvement and network advantages.

For the recycling processing and sales segment, the consensus estimate for revenues is $397 million. This represents a 4.2% increase from the year-ago quarter’s actual. The Zacks Consensus Estimate for the WM renewable energy segment’s revenues is $169 million, suggesting a 47% year-over-year jump. Key drivers of recycling and renewable segments’ expansion likely include investments in renewable natural gas facilities, recycling automation and new market projects.

The consensus estimate for the WM healthcare solutions revenues hints at marginal year-over-year growth to $647 million. For the corporate and other segment, the Zacks Consensus Estimate is pinned at $7 million, suggesting no change from the year-ago quarter’s reported figure.

The consensus estimate for earnings per share is pegged at $1.99, hinting at a 3.7% increase from the year-ago quarter’s actual. Bottom-line growth is anticipated to have been driven by operational efficiencies and expanding margins across segments, capturing the growth momentum. Automation and AI-fueled technological support are expected to have been the prominent growth drivers as well.

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

WM currently has an Earnings ESP of -1.31% and a Zacks Rank #3.

Stocks to ConsiderHere are a few stocks from the broader Business Services sector, which, according to our model, have the right combination of elements to beat on earnings this season.

Clean Harbors (CLH - Free Report) : The Zacks Consensus Estimate for the company’s second-quarter 2026 revenues is pinned at $1.6 billion, indicating 4.8% year-over-year growth. For earnings, the consensus estimate is pegged at $2.73 per share, implying a 15.7% jump from the year-ago quarter’s actual. The company beat the consensus estimate in three of the four quarters and missed once, with an average negative surprise of 0.02%.

CLH has an Earnings ESP of +3.82% and a Zacks Rank of 2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

The company is scheduled to declare second-quarter 2026 results on July 29.

Veralto Corporation (VLTO - Free Report) : The Zacks Consensus Estimate for the company’s second-quarter 2026 revenues is $1.4 billion, suggesting a 4.9% year-over-year rise. For earnings, the consensus estimate is kept at a dollar per share, gaining 7.5% from the year-ago quarter’s actual. The company beat the consensus estimate in the trailing four quarters, with an average surprise of 4.9%.

VLTO has an Earnings ESP of +0.77% and a Zacks Rank of 3 at present. The company is scheduled to declare second-quarter 2026 results on July 28.

Key Takeaways Xylem is expected to post higher Q2 revenues and earnings, led by infrastructure and water solution demand.XYL may benefit from smart metering demand, backlog execution and contributions from the Vacom acquisition.Xylem faces margin pressure from higher material, labor, freight and strategic investment costs. Xylem Inc. (XYL - Free Report) is scheduled to release second-quarter 2026 results on July 28, before market open.

The Zacks Consensus Estimate for XYL’s second-quarter revenues is pegged at $2.33 billion, indicating growth of 1.2% from the prior-year quarter’s number. The consensus mark for earnings is pinned at $1.34 per share, which has been stable in the past 60 days. The figure indicates an increase of 6.4% from the year-ago quarter’s figure.

The company’s earnings surpassed the Zacks Consensus Estimate thrice in the trailing four quarters and matched the mark in one, the average surprise being 5.9%.

Let’s see how things have shaped up for Xylem this earnings season.

Factors Likely to Have Shaped XYL’s Quarterly PerformanceStrength in the transport application business, aided by increased infrastructure projects in the United States, is likely to have supported the Water Infrastructure segment’s performance. The Zacks Consensus Estimate for the Water Infrastructure segment’s revenues is pegged at $664 million, indicating 2.2% growth from the year-ago figure.

An increase in demand for advanced metering infrastructure solutions, like smart and energy metering, and strong backlog execution are likely to have augmented the performance of the Measurement & Control Solutions (M&CS) segment. The Zacks Consensus Estimate for the M&CS segment’s revenues is pinned at $538 million, almost in line with the year-ago quarter’s figure.

Strength in the Applied Water segment, supported by higher demand for commercial building solutions applications, including pumps, valves and dispensing equipment, is likely to augment the segment’s results. The Zacks Consensus Estimate for the Applied Water segment’s revenues is pegged at $492 million, indicating 1.9% growth from the year-ago figure.

Recovery in Xylem’s dewatering applications business across utility and power end markets is likely to augment the Water Solutions and Services segment’s results. The Zacks Consensus Estimate for the Water Solutions and Services segment’s revenues is pegged at $636 million, indicating 1.3% growth year over year.

The company’s acquisition of Vacom Systems (in April 2025), a wastewater treatment company, enhanced its capabilities in providing sustainable water solutions. This buyout is expected to bolster the company’s top-line results in the to-be-reported quarter.

However, XYL’s bottom line is likely to have reflected the impact of high raw material costs, labor, freight and overhead costs in the second quarter. Also, increased spending on strategic investments is expected to have hurt its margins.

Earnings WhisperOur proven model does not conclusively predict an earnings beat for Xylem this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here, as elaborated below.

Earnings ESP: Xylem has an Earnings ESP of -0.34%. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.

Zacks Rank: XYL presently carries a Zacks Rank of 3. You can see the complete list of today’s Zacks #1 Rank stocks here.

Stocks to ConsiderHere are some companies, which according to our model, have the right combination of elements to beat on earnings in this reporting cycle.

Crane Company (CR - Free Report) has an Earnings ESP of +4.73% and a Zacks Rank of 2 at present. The company is scheduled to release second-quarter 2026 results on July 28.

Crane’s earnings surpassed the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 11.3%.

Ingersoll Rand Inc. (IR - Free Report) has an Earnings ESP of +0.61% and a Zacks Rank of 3 at present. The company is slated to release second-quarter 2026 results on July 30.

Ingersoll Rand’s earnings surpassed the Zacks Consensus Estimate in two of the trailing four quarters while matching the mark in two, the average surprise being 2.4%.

Illinois Tool Works Inc. (ITW - Free Report) has an Earnings ESP of +0.31% and a Zacks Rank of 3 at present. The company is slated to release second-quarter 2026 results on July 28.

Illinois Tool’s earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 2.8%.

Capital One (COF) is rated Strong Buy with a $260 price target, 26% above current levels, driven by technology-led competitive advantages. COF's cloud-native infrastructure, AI leadership, and ownership of the Discover network position it for payments-grade returns on tangible equity. Despite low-20s% normalized ROTCE post-integration, COF trades at ~9.4x forward earnings and ~1.9x tangible book, a deep discount to peers like Amex.

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Key Takeaways BWXT combines government nuclear contracts with expanding commercial nuclear operations and acquisitions.BWX Technologies trades at 4.06X forward sales versus XE at 11.34X forward sales.BWXT shares fell 20.9% in three months versus a 45.5% decline for XE shares. As investor interest in nuclear energy continues to grow, both X-Energy (XE - Free Report) and BWX Technologies (BWXT - Free Report) have emerged as attractive ways to gain exposure to the sector. While both companies operate within the U.S. nuclear industry, they represent two very different investment opportunities. While BWX Technologies is a mature, profitable supplier of nuclear components and services to the U.S. government with decades of industry experience, X-Energy is an emerging advanced reactor developer focused on commercializing next-generation nuclear technology.

The global nuclear industry is entering a new growth cycle as governments seek reliable, carbon-free sources of electricity to complement renewable energy and strengthen energy security. Rising electricity demand driven by artificial intelligence, data centers, electrification, and industrial decarbonization is increasing the need for dependable baseload power, while geopolitical concerns have prompted many countries to reduce reliance on imported fossil fuels. As a result, governments are extending the operating lives of existing nuclear plants, restarting previously retired reactors, and investing in next-generation technologies such as small modular reactors (SMRs) and advanced reactors.

Let us compare the stocks' fundamentals to determine which one is a better investment option at present.

Factors Acting in Favor of XE StockX-Energy is focused on the future of commercial nuclear power. The company is developing the Xe-100, a Generation IV high-temperature gas-cooled SMR designed to provide carbon-free electricity, industrial heat, and hydrogen production. Unlike traditional large nuclear plants, the Xe-100 is modular, scalable, and intended to be easier and less expensive to deploy. XE is also developing TRISO-X, a business dedicated to manufacturing TRISO fuel, an advanced nuclear fuel known for its exceptional safety characteristics and high-temperature performance. The company expects fuel production to become a meaningful long-term revenue stream as advanced reactors are deployed globally.

As of March 31, 2026, the company had a project pipeline of 144 Xe-100 reactors, representing roughly 11.5 gigawatts electric (GWe) of potential capacity across the United States and the United Kingdom. This pipeline is anchored by major customers and partners including Dow, Amazon and Centrica, providing the company with a solid foundation for future reactor sales, fuel supply agreements and long-term service revenues.

Factors Acting in Favor of BWXT StockBWX Technologies has built its business around designing and manufacturing nuclear components, fuel, and reactor systems for the U.S. Navy, Department of Energy, NASA, and other government agencies. The company is the sole manufacturer of naval nuclear reactors for U.S. aircraft carriers and submarines, giving it a highly defensible competitive position supported by long-term government contracts and recurring revenues. In recent years, BWXT has also expanded its commercial nuclear operations by supplying components, fuel handling systems, and engineering services for existing nuclear power plants, while increasing its presence in medical isotopes and advanced reactor technologies. This diversified business model provides stable cash flows and relatively predictable earnings growth.

In April 2026, BWXT announced the acquisition of Precision Components Group, LLC. This marks BWXT’s first step in establishing a U.S. commercial nuclear component manufacturing footprint to support future new reactor builds and aftermarket.

How Does the Zacks Consensus Estimate Compare for XE & BWXT?The Zacks Consensus Estimate for X-Energy’s 2027 earnings per share (EPS) indicates growth of 15.09% year over year. 
 

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for BWX Technologies’ 2027 EPS implies growth of 13.74% year over year.

Image Source: Zacks Investment Research

Valuation for XE & BWXTXE shares trade at a forward 12-month price/sales (P/S F12M) of 11.34X compared with BWXT’s P/S F12M of 4.06X.

Image Source: Zacks Investment Research

XE & BWXT’s Price PerformanceIn the past three months, shares of X-Energy and BWX Technologies’ have declined 45.5% and 20.9%, respectively.  

Image Source: Zacks Investment Research

XE or BWXT: Which Is a Better Choice Now?X-Energy is developing advanced SMR technology for commercial nuclear power, with a focus on delivering carbon-free electricity, industrial heat, and hydrogen production through scalable reactor designs. XE is also building an advanced nuclear fuel business, supported by a growing pipeline of projects and partnerships that position it for long-term reactor, fuel, and service revenue opportunities.

BWX Technologies specializes in nuclear components, fuel, and reactor systems for U.S. government agencies, supported by long-term contracts that provide stable and recurring revenues. BWXT is also expanding its commercial nuclear business through advanced reactor technologies, nuclear services, and strategic acquisitions that strengthen its position in the growing commercial market.

Our choice at the moment is BWX Technologies, given its better price performance and more attractive valuation than X-Energy. BWXT carries a Zacks Rank #3 (Hold) and XE has a Zacks Rank #4 (Sell) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Ameris Bancorp (ABCB) Q2 2026 Earnings Call Transcript

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New York, New York--(Newsfile Corp. - July 24, 2026) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Insulet Corporation (NASDAQ: PODD) between February 21, 2025 and May 26, 2026, inclusive (the "Class Period"), of the important August 31, 2026 lead plaintiff deadline.

SO WHAT: If you purchased Insulet securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Insulet class action, go to https://rosenlegal.com/cases/insulet-corporation/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than August 31, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

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 handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. 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.

DETAILS OF THE CASE: According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that: (1) Insulet's manufacturing controls and procedures were defective; (2) the foregoing created a foreseeable heightened risk that one or more Insulet products would be found to be in violation of applicable safety regulations and/or pose a risk of injury; and (3) as a result, defendants' public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Insulet class action, go to https://rosenlegal.com/cases/insulet-corporation/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

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The company reported adjusted earnings of $7.59, up from $6.84 a year ago, surpassing the Wall Street estimates of $7.02.

Adjusted EBITDA reached $4.027 billion, compared to $3.849 billion a year ago.

Admissions Growth And Medicaid Payments Support ResultsThe company also experienced positive factors including increased benefit from Medicaid Supplemental Payment Programs, growth in admissions, equivalent admissions and ER visits, and improved expense results.

Same facility admissions increased 2.5% and same facility equivalent admissions increased 2.7%. Same facility emergency room visits increased 3.6%.

Same facility inpatient surgeries declined 2.3%, and outpatient surgeries declined 3.4% in the quarter. Same facility revenue per equivalent admission increased 6.4%.

Surgical Volume And Payer Mix Weigh On PerformanceAs announced earlier, during the second quarter, the company experienced a payer mix shift driven by an increase in uninsured volume, primarily due to patients who lost coverage on the health insurance exchanges.

The company estimates this payer mix shift had an unfavorable impact on income before income taxes of approximately $400 million during the second quarter.

The amount includes an increase of approximately $75 million related to the company’s previous estimate of the first quarter health insurance exchange impact.

In addition, to a lesser degree, HCA Healthcare experienced a service mix shift primarily related to a decline in surgical volume.

HCA Reaffirms Full-Year 2026 OutlookHCA Healthcare reaffirmed fiscal 2026 earnings guidance of $28.70-$30.50 per share compared to the consensus of $29.70.

The company expects 2026 sales of $77 billion-$79.50 billion versus the consensus of $78.457 billion.

HCA Stock Price Activity: HCA Healthcare shares were up 3.62% at $390.12 at the time of publication on Friday, according to Benzinga Pro data.

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Key Takeaways HCA posted Q2 adjusted EPS of $7.59, beating estimates as revenues climbed 8.7% year over year.HCA saw higher admissions, revenue per admission and ER visits, while inpatient and outpatient surgeries fell.HCA narrowed revenue guidance but reduced adjusted EBITDA, net income and diluted EPS forecasts for 2026. HCA Healthcare, Inc. (HCA - Free Report) reported second-quarter 2026 adjusted earnings per share (EPS) of $7.59, which beat the Zacks Consensus Estimate of $7.57. The bottom line advanced 11% year over year.

Revenues rose 8.7% year over year to $20.2 billion. The top line was in line with the Zacks Consensus Estimate.

The quarterly results benefited from higher same-facility admissions, strong revenue per equivalent admission and solid emergency room visit growth. However, declining inpatient and outpatient surgeries, along with elevated operating expenses, partially offset these positives.

HCA Healthcare, Inc. Price, Consensus and EPS SurpriseHCA’s Q2 DetailsSame-facility equivalent admissions grew 2.7% year over year in the second quarter, beating our growth estimate of 2%. Meanwhile, same-facility admissions increased 2.5%, also surpassing our growth estimate of 1.8%.

Same-facility revenue per equivalent admission rose 6.4% year over year but came in higher than our growth estimate of 4.2%.

Same-facility inpatient surgeries fell 2.3% year over year, while same-facility outpatient surgeries dipped 3.4%. Same-facility emergency room visits inched up 3.6% year over year in the quarter.

Salaries and benefits, supplies and other operating expenses increased 9.8% year over year to $16.2 billion. The metric came in higher than our estimate of $15.4 billion.

Adjusted EBITDA of $4 billion advanced 4.6% year over year, which marginally beat our estimate of $3.9 billion.

HCA Healthcare operated 190 hospitals and roughly 2,600 ambulatory sites of care across 19 states and the United Kingdom as of June 30, 2026.

HCA’s Q2 Financial UpdateHCA Healthcare exited the second quarter with approximately $1 billion in cash and cash equivalents, down 2.6% from the 2025-end level. It had approximately $3.1 billion of available capacity under its credit facilities at the end of the reported quarter.

Total assets of $63.3 billion increased 4.2% from 2025-end figure.

Long-term debt, excluding debt issuance costs and discounts, was $43.5 billion, up 4.4% from the figure as of Dec. 31, 2025. Short-term borrowings and long-term debt due within a year totaled $6.3 billion.

Capital expenditures, excluding acquisitions, amounted to $1.2 billion during the quarter.

HCA’s Cash FlowCash flows from operating activities declined 44.5% year over year to $2.3 billion in the second quarter of 2026.

HCA Healthcare’s Capital Deployment UpdateHCA bought back shares worth approximately $2.1 billion in the second quarter. It had about $7.2 billion remaining under its share repurchase authorization as of June 30, 2026. The board also declared a quarterly cash dividend of 78 cents per share, payable on Sept. 30, 2026, to shareholders of record as of Sept. 16, 2026.

HCA Revises 2026 GuidanceRevenue guidance has been revised to $77.0-$79.5 billion from the previous $76.5-$80.0 billion, raising the lower end by $0.5 billion and lowering the upper end by $0.5 billion. The midpoint of the revised range implies 3.5% growth from the 2025 reported figure.

Adjusted EBITDA guidance has been narrowed to $15.4-$16.1 billion from $15.55-$16.45 billion. The midpoint suggests about 1.2% growth from the 2025 reported figure.

Net income guidance was lowered to $6.3-$6.7 billion from $6.495-$7.035 billion. The midpoint implies about a 4.2% decline from the 2025 reported figure.

Diluted EPS guidance was lowered to $28.70-$30.50 from $29.10-$31.50. The midpoint implies about 4.5% growth from the 2025 reported figure.

Capital expenditures, excluding acquisitions, remain projected in the range of $5.0-$5.5 billion.

HCA’s Zacks Rank & Key PicksHCA currently carries a Zacks Rank #4 (Sell).

Some better-ranked stocks in the broader Medical space are Charles River Laboratories International, Inc. (CRL - Free Report) , CVS Health Corporation (CVS - Free Report) and Cencora, Inc. (COR - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Charles River is set to report second-quarter 2026 results on Aug. 5, before the market closes. The Zacks Consensus Estimate for earnings is pegged at $2.72 per share, which has witnessed one upward revision and one downward revision over the past 30 days. The company beat on earnings in each of the trailing four quarters, with the average surprise being 9.3%. The consensus estimate for Charles River’s second-quarter revenues is pinned at $970.77 million.

CVS Health is set to report second-quarter 2026 results on Aug. 5, before the market closes. The Zacks Consensus Estimate for earnings is pegged at $1.87 per share, indicating a 3.3% year-over-year increase. The company beat on earnings in each of the trailing four quarters, with the average surprise being 16.8%. The consensus estimate for CVS Health’s second-quarter revenues is pinned at $100.18 billion, indicating a 1.3% year-over-year increase.

Cencora is set to report second-quarter 2026 results on Aug. 5, before the market closes. The Zacks Consensus Estimate for earnings is pegged at $4.37 per share, indicating a 9.3% year-over-year increase. The company beat on earnings in three of the trailing four quarters and missed once, with the average surprise being 1.6%. The consensus estimate for Cencora’s second-quarter revenues is pinned at $84.89 billion, indicating a 5.2% year-over-year increase.

CenterPoint Energy (CNP - Free Report) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #2 (Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change.

The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.

Individual investors often find it hard to make decisions based on rating upgrades by Wall Street analysts, since these are mostly driven by subjective factors that are hard to see and measure in real time. In these situations, the Zacks rating system comes in handy because of the power of a changing earnings picture in determining near-term stock price movements.

As such, the Zacks rating upgrade for CenterPoint is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price.

Most Powerful Force Impacting Stock PricesThe change in a company's future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. That's partly because of the influence of institutional investors that use earnings and earnings estimates for calculating the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their transaction of large amounts of shares then leads to price movement for the stock.

For CenterPoint, rising earnings estimates and the consequent rating upgrade fundamentally mean an improvement in the company's underlying business. And investors' appreciation of this improving business trend should push the stock higher.

Harnessing the Power of Earnings Estimate RevisionsAs empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.

The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>> .

Earnings Estimate Revisions for CenterPointFor the fiscal year ending December 2026, this energy delivery company is expected to earn $1.91 per share, which is unchanged compared with the year-ago reported number.

Analysts have been steadily raising their estimates for CenterPoint. Over the past three months, the Zacks Consensus Estimate for the company has increased 0.1%.

Bottom LineUnlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of "buy" and "sell" ratings for its entire universe of more than 4,000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a "Strong Buy" rating and the next 15% get a "Buy" rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.

You can learn more about the Zacks Rank here >>>

The upgrade of CenterPoint to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.

Key Takeaways IQVIA's Q2 revenues are expected to rise 6.7% y/y to $4.3 billion, with EPS at $3.02.Commercial solutions growth is expected from drug launches, AI demand and Data-as-a-Service adoption.AI-led workflow gains and backlog conversion are expected to support research and development solutions. IQVIA Holdings Inc. (IQV - Free Report) is set to release second-quarter 2026 results on July 28, before market open.

IQV has a decent earnings surprise history, having surpassed the Zacks Consensus Estimate in the trailing four quarters, with an average surprise of 1.6%.

IQVIA’s Q2 ExpectationsThe Zacks Consensus Estimate for revenues is pegged at $4.3 billion, implying 6.7% year-over-year growth. Growth in the top line is likely to have been stimulated by an efficient use of AI across its business lines.

Revenue gains in the commercial solutions segment are expected to have emanated extensively from rising drug launch activity. Surging demand for the company’s exclusive AI capabilities, tailored AI agents and AI-ready data foundations is anticipated to have added to the growth trajectory.

We expect the rapid adoption of Data-as-a-Service, resulting in multi-year client agreements and enterprise-wide platform adoptions, enhancing commercial intelligence and analytics, to have acted as a major catalyst to this segment’s growth.

For the research and development solutions segment, we expect IQVIA to have leveraged AI to optimize workflow, accelerate study execution and cut down errors, thus improving its revenues. Scheduled conversion of contracted backlogs into revenues over the upcoming months is likely to have contributed to the segment’s growth.

The consensus estimate for earnings per share is $3.02, implying 7.5% year-over-year growth. Enhancement in operational prowess springing from high-margin revenue growth across segments is anticipated to have benefited the bottom line.

What Our Model Says About IQVOur proven model does not conclusively predict an earnings beat for IQVIA this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the case here. You can uncover the best stocks before they are reported with our Earnings ESP Filter.

IQV has an Earnings ESP of -2.98% and a Zacks Rank of 3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Stocks to ConsiderHere are a few stocks from the broader Medical sector, which, according to our model, have the right combination of elements to beat on earnings this time around.

Alcon (ALC - Free Report) : The Zacks Consensus Estimate for the company’s second-quarter 2026 revenues is pegged at $2.8 billion, indicating 7.3% year-over-year growth. For earnings, the consensus mark is pinned at 77 cents per share, moving up 1.3% from the year-ago quarter’s reported figure. The company beat the consensus estimate in three of the past four quarters and missed once, with an average surprise of 3.7%.

ALC carries an Earnings ESP of +3.13% and a Zacks Rank of 3 at present. The company is scheduled to declare second-quarter 2026 results on Aug. 10.

Waters (WAT - Free Report) : The Zacks Consensus Estimate for the company’s second-quarter 2026 revenues is pinned at $1.6 billion, hinting at 3% year-over-year growth. For earnings, the consensus mark is pinned at $3.01 per share, improving 2% from the year-ago quarter’s reported figure. WAT beat the consensus estimate for earnings in the trailing four quarters, with an average surprise of 6%.

WAT has an Earnings ESP of +0.45% and a Zacks Rank of 3 at present. The company is scheduled to declare second-quarter 2026 results on Aug. 4.

Signature Youth Initiative Anchors the Second Annual Impacting the Carolinas Campaign; First Horizon Bank Named Presenting Partner of Bee-Ball For All

, /PRNewswire/ -- The Charlotte Hornets have announced First Horizon Bank (NYSE: FHN or "First Horizon") as the presenting partner of Bee-Ball for All, the organization's signature youth engagement platform and cornerstone of the second annual Impacting the Carolinas initiative. Through Bee-Ball for All presented by First Horizon Bank, the Hornets will distribute 10,000 basketballs to youth through participating Boys & Girls Club locations across North and South Carolina, expanding access to the game while creating opportunities for mentorship, literacy, wellness and community engagement throughout the region.

First Horizon Bank and Charlotte Hornets Bee-Ball for All Event - Northridge Middle School, Charlotte NC To officially tip off the initiative, Hornets, First Horizon Bank and Boys & Girls Club leaders – along with Hornets Legend Muggsy Bogues – gathered at Northridge Middle School on Thursday, July 23 for a formal announcement and youth basketball clinic celebrating the launch of the two-state distribution effort. The event served as the beginning of a broader effort that will place 10,000 basketballs into the hands of children across North and South Carolina.

"This isn't just about giving away basketballs; it's about opening doors for youth development in multiple ways," said Justin Rutledge, Senior Vice President and Charlotte Market President for First Horizon Bank. Laura Bunn, Executive Vice President and Mid-Atlantic Regional President for First Horizon Bank added, "Sports also build teamwork, discipline and skills youth will carry through their lives. While we're proud to celebrate in Charlotte today, the mission reaches far beyond this community. Bee-Ball for All helps us connect with youth across the Carolinas, so opportunities aren't limited to one city, but shared across more than 200 Boys & Girls Clubs spanning North and South Carolina."

"Partnerships like this allow us to make a greater impact than we ever could alone. We are incredibly grateful to First Horizon Bank for sharing our commitment to investing in youth and strengthening communities throughout the Carolinas," said Hornets Sports & Entertainment Senior Vice President of Community Impact Betsy Mack. "Together, we are creating opportunities for young people to grow, learn, build confidence and connect through the game of basketball."

Launched in 2025, Impacting the Carolinas is designed to strengthen Hornets Sports & Entertainment's community impact and regional presence across North and South Carolina while reinforcing the organization's commitment to being the Team of the Carolinas.

About First Horizon
First Horizon Corp. (NYSE: FHN), with $84.4 billion in assets as of June 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.

About Hornets Sports & Entertainment
Hornets Sports & Entertainment (HSE) owns the Charlotte Hornets and the Greensboro Swarm (NBA G League), and operates Spectrum Center, the premier destination for sports and entertainment in the Carolinas. Charlotte's first professional sports team, the Hornets joined the NBA in 1988 and are a member of the Eastern Conference's Southeast Division. HSE is committed to positively impacting the Carolinas through community programming and the Charlotte Hornets Foundation. Spectrum Center is celebrating its 20th anniversary and reopened following a two-phased renovation as a fully transformed world-class arena in the heart of Uptown Charlotte. Through the years, Spectrum Center has hosted nearly 2,500 events and has welcomed more than 25 million guests. Directly across from Spectrum Center, the state-of-the-art Novant Health Performance Center is being built to enhance player development and foster a culture of high performance. 

For more information, please visit hornets.com, gsoswarm.com or spectrumcentercharlotte.com

SOURCE First Horizon Bank

First Hawaiian NASDAQ: FHB executives said the bank delivered loan growth, wider net interest margin and continued solid credit quality in the second quarter of 2026, while preparing for its proposed combination with TriCo Bancshares.

Chairman, President and CEO Bob Harrison said the company was “very excited” about the TriCo transaction, which is expected to close near the end of the year. He said First Hawaiian is focused on the work required to complete the deal and does not have additional information beyond what was presented during its July 23 investor call.

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Hawaii economy and loan growth Harrison pointed to relatively stable economic conditions in Hawaii. The statewide employment rate was 2.5% in May, compared with a national unemployment rate of 4.3%. Total visitor arrivals through May rose 2.9% from a year earlier, driven primarily by visitors from the U.S. mainland and Japan, while year-to-date visitor spending reached $9.7 billion, up 7.5% from 2025 levels.

Hawaii housing prices also remained firm. The median Oahu single-family home sales price was $1.2 million in June, up 10.4% year over year, while the median condo price was $528,000, up 3.5%.

Total loans increased $137 million during the quarter, representing annualized growth of about 3.6%. Growth was led by commercial and industrial, or C&I, lending and commercial real estate lending. C&I balances increased $98 million, primarily because of dealer-flooring growth and expansion in the company’s Hawaii corporate portfolio.

Completed construction projects resulted in the conversion of $95 million in construction loan balances into commercial real estate loans. Construction loan payoffs and lower residential balances partly offset the broader growth, as residential payoffs exceeded new production.

Harrison said management continues to see a “very robust pipeline” in C&I and commercial real estate, with construction activity representing a meaningful portion of commercial real estate opportunities. The bank also is working with some new customer relationships, he said. Residential lending, however, is expected to remain slow because of the interest-rate environment.

Deposits, margin and earnings outlook Total deposits declined $623 million in the second quarter, largely due to expected public-deposit outflows. Chief Financial Officer Jamie Moses said retail deposits were essentially flat, while commercial deposits fell about $156 million because of seasonal volatility. Public deposits declined $467 million, mainly in operating accounts, and public time deposits decreased by $115 million. The remaining public time-deposit balance was $9 million.

Moses said the declines did not reflect lost customer relationships. Municipal partners found other ways to invest certain balances off the bank’s balance sheet, he said, while First Hawaiian expects retail and commercial deposits to increase in the second half because of seasonal patterns. The company’s noninterest-bearing deposit ratio was 32%, and its total cost of deposits declined two basis points from the first quarter.

Net interest income increased $3.5 million sequentially to $171 million. Net interest margin rose six basis points to 3.25%, helped by deposit mix and repricing, higher loan and securities yields, and lower cash balances.

Management revised its full-year net interest margin outlook to a range of 3.24% to 3.25%, based on market expectations for one rate increase later this year. First Hawaiian expects third-quarter margin of about 3.27%. Moses said the company assumed a rate increase early in the fourth quarter in its outlook.

The balance sheet remains asset-sensitive, according to Harrison. Moses said roughly $6 billion of assets would reprice immediately following a rate increase based on SOFR, while approximately $3.5 billion to $4 billion of liabilities would also reprice to some degree.

Cash balances declined in the quarter primarily because of public-deposit outflows. Management expects to keep cash around the quarter-end level, approximately $1 billion, through the rest of the year, even as it anticipates further loan growth.

Fees, expenses and credit quality Noninterest income totaled $60.3 million, aided by higher bank-owned life insurance income, an excise tax refund and increased swap fees. Moses said the BOLI contribution reflected a component of the portfolio that is sensitive to market movements rather than a death benefit.

First Hawaiian maintained its full-year noninterest income outlook of about $220 million. Moses said the company generally views approximately $55 million per quarter as a baseline, though one-time or market-related items can cause quarterly variation.

Noninterest expense was $130.4 million, including $4.2 million in costs related to the TriCo transaction. The company expects more transaction costs in the second half as it moves toward closing and integration. Excluding TriCo-related costs, First Hawaiian expects reported expenses of $515 million to $520 million for the full year.

Moses said higher second-half expenses will reflect continued hiring to support loan growth, along with project-related salary, professional-services and information-technology costs.

Chief Risk Officer Lea Nakamura said credit performance and credit metrics remained healthy. The allowance for credit losses declined both in dollar terms and relative to coverage, primarily because of a material reduction in classified assets.

The company reported a return on average tangible assets of 1.28% and a return on average tangible equity of 16.34% for the quarter. Its effective tax rate was 22.9%.

TriCo transaction and capital plans Harrison said First Hawaiian did not repurchase shares during the second quarter and is unlikely to conduct buybacks for the remainder of the year while the TriCo deal proceeds through regulatory review, though he said that could change. The company’s common equity tier 1 ratio remained above 13%, according to an analyst’s question during the call.

Management reiterated a target of 25% cost savings from the TriCo transaction. Moses said the company remains comfortable with that objective and expects to achieve it through a variety of measures, but did not provide further detail.

Harrison said three TriCo executives—Richard Smith, Dan Bailey and Peter G. Wiese—are expected to join First Hawaiian’s senior management team. He said First Hawaiian intends to retain much of TriCo’s management team, describing the California bank as a well-run institution that First Hawaiian plans to support while learning from its operations.

About First Hawaiian (NASDAQ:FHB)First Hawaiian, Inc is the oldest and largest bank in Hawaii, operating as the bank holding company for First Hawaiian Bank. Established in 1858, the company offers a full suite of financial services to individual, business and institutional clients. Its product portfolio includes consumer and commercial lending, deposit accounts, treasury and cash management, foreign exchange and trade finance, as well as wealth management and trust services.

First Hawaiian serves customers through an extensive network of branches, ATMs and digital channels across the Hawaiian Islands, Guam, Saipan and American Samoa.

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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SouthState Bank Corporation (SSB) Q2 2026 Earnings Call July 24, 2026 9:00 AM EDT

Company Participants

William Matthews - Senior Executive VP & CFO
John Corbett - CEO & Chairman
Stephen Young - Senior Executive VP & Chief Strategy Officer

Conference Call Participants

Stephen Scouten - Piper Sandler & Co., Research Division
John McDonald - Truist Securities, Inc., Research Division
Hannah Wynn - Keefe, Bruyette, & Woods, Inc., Research Division
Michael Rose - Raymond James & Associates, Inc., Research Division
Sun Young Lee - TD Cowen, Research Division
Gary Tenner - D.A. Davidson & Co., Research Division
Anthony Elian - JPMorgan Chase & Co, Research Division
Benjamin Gerlinger - Citigroup Inc., Research Division
David Chiaverini - Jefferies LLC, Research Division
David Bishop - Hovde Group, LLC, Research Division
Samuel Varga - UBS Investment Bank, Research Division

Presentation

Operator

Hello, everyone. Thank you for joining us, and welcome to the SouthState Bank Corporation Second Quarter 2026 Earnings Conference Call. [Operator Instructions]

I will now hand the conference call over to Will Matthews, Chief Financial Officer. Mr. Matthews, please go ahead.

William Matthews
Senior Executive VP & CFO

Good morning. This is Will Matthews, and welcome to SouthState's Second Quarter 2026 Earnings Call.

I'm here with John Corbett, Steve Young and Jeremy Lucas. We'll follow our typical pattern of brief prepared remarks and then move into Q&A. And I'll refer you to the Investor Relations tab of our website for the earnings materials.

Before we begin our remarks, I want to remind you that comments we make may include forward-looking statements within the meaning of the federal securities laws and regulations. Any such forward-looking statements we may make are subject to the safe harbor rules. Please review the forward-looking disclaimer and safe harbor language in the press release and presentation for more information about our forward-looking statements and risks and uncertainties, which may affect us.

Consumer-Driven Stocks Boost Buybacks, Including Visa's $20B PlanByline Bancorp NYSE: BY reported record second-quarter net income of $40.2 million, or $0.90 per diluted share, as revenue increased and expenses declined from the prior quarter. Adjusted earnings per share were $0.91, up 10% sequentially and 21% from a year earlier, President Alberto Paracchini said during the company’s earnings call.

The Chicago-based commercial bank posted a 1.63% return on average assets and a return on average common equity of just under 14.5%. Its pre-tax, pre-provision return on assets was 2.49%, marking the company’s 15th consecutive quarter above 2%, according to management.

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Could This Entertainment Stock be the Belle of the Gaming Ball?“We delivered net income of $40.2 million or $0.90 per diluted share,” Paracchini said. “Record net income and excellent profitability really stood out this quarter.”

Revenue Growth and Efficiency Improvement Revenue totaled $118 million, up 4.7% from the prior quarter, while non-interest expenses fell. The adjusted efficiency ratio improved to 46.5% from 49.8% in the first quarter, which Paracchini described as the company’s best result since becoming a public company in 2017.

Boyd Gaming stock: All signs point to a significant break higherNet interest income was $101 million, up modestly from the preceding quarter. Net interest margin declined 5 basis points to 4.28%, primarily reflecting higher funding costs associated with a maturing balance-sheet hedge and changes in earning-asset mix, CFO Tom Bell said.

Management emphasized that it prioritizes growth in net interest income dollars rather than managing to a particular margin target. Paracchini said the bank may accept lower spreads on high-quality, relationship-oriented business if it is accretive to earnings and supports long-term franchise value.

For the third quarter, Byline projected net interest income of $100 million to $102 million, non-interest income of $14 million to $15 million, and gain-on-sale revenue averaging about $5.5 million per quarter. The company maintained its full-year non-interest expense outlook of $59 million to $60 million per quarter.

Bell said second-half expenses are expected to rise due largely to employee-related costs, including health care benefits and commissions tied to production. Management also said potential opportunities to hire banking talent are included in its outlook.

Loans, Deposits and Rate Environment Total loans ended the quarter at $7.6 billion, increasing at a 4.2% annualized rate. New originations totaled $234 million, while payoffs were elevated at $339 million. Loan commitments rose slightly, and line utilization increased to 60% from 59% in the prior quarter.

Management expects full-year loan growth in the mid-single digits if payoff activity normalizes in the second half. Paracchini said the recent elevated payoff activity partly reflects the bank’s effort to recycle acquired loan portfolios into new customer relationships.

Total deposits reached $7.9 billion, rising at a 3.5% annualized rate. Growth in interest-bearing checking balances was partly offset by lower money-market balances. The loan-to-deposit ratio ended the quarter at 96%.

Byline said competition for both loans and deposits remains elevated. Paracchini said price competition has intensified in commercial real estate, particularly as larger institutions return to certain segments of that market. He cited multifamily and industrial properties as areas where more capital is competing for a reduced level of transaction activity.

Bell said the company remains focused on relationship deposits rather than more rate-sensitive funding. He added that commercial customers moving balances from money-market accounts to interest-bearing checking could indicate they anticipate uses for that capital.

Credit Trends Remain Favorable Credit costs were $7.2 million during the quarter, including $4.4 million of net charge-offs and a $2.8 million reserve build. Net charge-offs equaled 24 basis points of loans, down from 32 basis points in the first quarter.

Criticized loans declined to 3.9% of total loans from 4.5% both sequentially and from a year earlier. Nonperforming loans totaled $69.1 million, or 92 basis points of total loans, up marginally from the prior quarter and flat year over year. The allowance for credit losses rose to $112 million, or 1.48% of total loans.

Chief Credit Officer Mark Fucinato said the decline in criticized and classified loans reflected improved performance at several larger operating companies, as well as the resolution of a workout situation in which an operating company sold a mortgaged asset and repaid its exposure in full. The bank also recorded a recovery on a prior charge-off.

Paracchini said management’s near-term expectation for net charge-offs remains in the range of 30 to 40 basis points, although he expects that level may migrate lower over time as the SBA portfolio becomes a smaller part of Byline’s overall balance sheet.

Capital Returns and $10 Billion Threshold Byline ended the quarter with total assets of $9.9 billion. Tangible common equity rose to 11.4%, while the common equity tier 1 ratio reached 12.9%. Tangible book value per share increased 14% from a year earlier to $24.48.

During the quarter, the company repurchased about 275,000 shares for $9.1 million. Including dividends and buybacks, its total shareholder payout ratio was 36%.

The board also approved a 16.7% increase in the quarterly dividend to $0.14 per share. Paracchini said the increase reflects the company’s capital position and earnings profile.

Management said it continues preparing to cross the $10 billion asset threshold. Paracchini said the company is not currently constraining normal balance-sheet activity to stay below that level, but it could manage the balance sheet near year-end if doing so would delay the effects of the Durbin amendment until mid-2028.

On acquisitions, Paracchini described the environment for smaller-bank transactions as constructive. He said Byline would generally seek deals with tangible book value earn-backs within three years, while continuing to weigh acquisitions against organic growth, investments in the business and share repurchases.

About Byline Bancorp (NYSE:BY)Byline Bancorp, Inc is the bank holding company for Byline Bank, a full-service commercial bank headquartered in Chicago, Illinois. Established under its current name in 2016, the company operates as a community-focused financial institution offering a broad array of banking products and services to corporate, professional and consumer clients.

On the commercial banking side, Byline Bancorp serves small and midsize businesses, real estate developers, professional services firms and nonprofit organizations.

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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Friday, 24 July 2026 12:45 PM

Topic: 

Earnings DERBY, VT / ACCESS Newswire / July 24, 2026 / Community Bancorp. (NASDAQ:CMTV), the parent company of Community National Bank (the "Bank"), reported consolidated earnings for the second quarter ended June 30, 2026, of $4.7 million or $0.84 per share, an increase of $628,008 or 15.47% compared to $4.1 million or $0.72 per share reported for the second quarter of 2025. Earnings for the six months ended June 30, 2026, were $9.1 million, or $1.62 per share, also a significant increase of $1.5 million or 19.40% compared to $7.6 million or $1.34 per share in the same period in 2025.

Second Quarter 2026 Financial Highlights and Key Performance Indicators (KPIs):

(Unaudited)

Six months Ended

Quarter Ended

Six months Ended

Quarter Ended

June 30, 2026

June 30, 2026

June 30, 2025

June 30, 2025

Return on average assets

1.47

%

1.53

%

1.29

%

1.38

%

Pre-tax, pre-provision net revenue return on average assets

1.96

%

2.11

%

1.67

%

1.81

%

Return on average shareholders' equity

15.63

%

15.83

%

15.05

%

15.62

%

Net Interest Margin

3.88

%

3.95

%

3.56

%

3.64

%

Efficiency Ratio

54.2

%

52.8

%

57.3

%

55.8

%

Noninterest expense to average assets

2.31

%

2.37

%

2.24

%

2.29

%

Dividend payout

30.86

%

29.76

%

35.82

%

33.33

%

Fully diluted tangible book value per common share (1)

$

19.51

$

19.51

$

16.63

$

16.63

Total capital to risk-weighted assets (2)

16.05

%

16.05

%

14.85

%

14.85

%

Total common equity tier 1 capital to risk-weighted assets (2)

14.79

%

14.79

%

13.60

%

13.60

%

Tier I Capital to Average Assets (2)

10.63

%

10.63

%

10.06

%

10.06

%

Tangible common equity to tangible assets (1)

9.41

%

9.41

%

8.21

%

8.21

%

Earnings per common share

$

1.62

$

0.84

$

1.34

$

0.72

Weighted average number of common shares
used in computing earnings per share

5,590,465

5,594,749

5,608,997

5,612,675

(1)

Refer to the "Reconciliation of GAAP to Non-GAAP Measures" section of this document for additional detail.

(2)

Represents Bank-only ratios. Current period capital ratios are preliminary subject to finalization of the Bank's June 30, 2026 FDIC Call Report.

Total assets for the Company at June 30, 2026, were $1.17 billion, a decrease of $114.8 million from year end 2025, but $6.2 million or 0.53% higher compared to $1.17 billion as of June 30, 2025. The year-to-date change primarily reflects annual maturities of municipal non arbitrage relationships and lower cash balances used to pay off two maturing advances totaling $25.0 million, as well as a cyclical decrease in deposit balances. Contributing to the Company's year-over-year growth in assets was growth in the Company's gross loan portfolio of $28.8 million, or 3.06%, compared to the 2025 period. Deposit balances increased $48.7 million, or 5.22%, compared to the same period in 2025 but decreased $89.0 million or 8.31% since year end 2025 reflecting cyclical changes. The year-over-year loan growth was primarily funded by a combination of cash, maturities of securities, as well as an increase in core deposits.

The Company's securities portfolio totaled $128 million as of June 30, 2026, an 11.45% decrease compared to $144.6 million as of December 31, 2025. The portfolio is classified as available-for-sale and is required to be reported at fair market value with the unrealized loss, net of a deferred tax adjustment, as an adjustment to total equity. Such unrealized losses reflect the interest rate environment, as current rates remain below the coupon rates on the securities, resulting in a fair market value lower than current book values. As of June 30, 2026, the adjustment to equity was $9.4 million, representing an improvement of $3.1 million from the adjustment to equity of $12.5 million on June 30, 2026 and $9.6 million as of December 31, 2025.

Total net interest income for the second quarter ended June 30, 2026, increased $1.4 million, or 13.68%, to $11.2 million, compared to $9.9 million for the same quarter in 2025. The quarter-over-quarter improvement reflects an increase of $1.1 million, or 7.72%, in interest and fees on loans due to strong loan growth and higher yields, partially offset by higher interest on deposits expense of $37,533, or 0.94%. Net interest income for the six months ended June 30, 2026, increased $2.9 million or 14.81%, to $22.2 million, compared to $19.3 million for the same period in 2025, reflecting the same trends.

The provision for credit losses for the second quarter ended June 30, 2026, was $720,967 compared to $407,046 for the same period in 2025. The year-to-date provision for credit losses was $1.1 million, compared to $732,100 for the same period in 2025. The $380,373 year-over-year increase was driven primarily by strong loan growth. The provision for credit losses for June 30, 2026, was determined under Accounting Standard No. 2016-13, Measurement of Credit Losses on Financial Instruments, commonly referenced as the Current Expected Credit Losses, or CECL.

Total non-interest income for the second quarter ended June 30, 2026, of $2.3 million increased $254,036, or 12.34%, compared to $2.1million for the same period in 2025. Total non-interest income for the six months ended June 30, 2026, grew to $4.1 million, compared to $3.6 million for the six months ended June 30, 2025, an increase of $420,767, or 11.57% year-over-year. Total non-interest expenses increased $497,838, or 7.47%, for the second quarter comparison period, and $1.1 million, or 7.98%, for the six months period year-over-year.

Equity capital increased to $120.9 million, with a book value per share of $21.58, as of June 30, 2026, compared to equity capital of $113.7 million and a book value per share of $20.36 as of December 31, 2025, and $106.3 million and book value per share of $18.69 as of June 30, 2025. This change includes a decrease of $237,432 in unrealized losses in the investment portfolio year-to-date and a decrease of $3.1 million year-over-year, due to changing bond rates, which increased the fair market value of the investment portfolio, as well as an increase of $6.3 million year-to-date and an increase of $12.8 million year-over-year in retained earnings. The unrealized loss position is considered temporary and does not impact the Company's regulatory capital ratios. In the fourth quarter of 2025, the Company completed the optional redemption of all fifteen of the Company's outstanding shares of its Series A Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock. The preferred stock value of $1,500,000 was included in the Company's equity capital as of June 30, 2025.

President and CEO Christopher Caldwell commented on the Company's results: "Through the first half of 2026, the company continued its strong performance. Community banking thrives through relationship-based banking and this long-term approach to clients and our communities continues to serve us well. Our inclusion in both the ABA Nasdaq Community Bank Index and the Russell 2000 Index has increased the Company's visibility among investors and may support broader market awareness of our stock over time. Tangible book value per share increased by 17% for the year-to-date period compared to the same period of 2025. Year-to-date earnings per share increased 20% compared to the same period last year, and 16% for the second quarter compared to the same quarter of 2025. These results demonstrate the Company's commitment to serving our customers as Vermont's Community Bank. We are grateful for the trust that our communities, clients, and shareholders have placed in us."

As previously announced, the Company declared a quarterly cash dividend of $0.25 per share payable August 1, 2026, to shareholders of record as of July 15, 2026.

About Community Bancorp.

Community Bancorp. is the parent holding company for Community National Bank, headquartered in Derby, Vermont. Community National Bank is an independent bank that has been serving its communities since 1851, with retail banking offices located in Derby, Derby Line, Island Pond, Barton, Newport, Troy, St. Johnsbury, Montpelier, Barre, Lyndonville, Morrisville and Enosburg Falls as well as loan offices located in Burlington, Vermont and Lebanon, New Hampshire

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, statements about the Company's financial condition, capital status, dividend payment practices, business outlook and affairs. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words like "believe," "expect," "anticipate," "estimate," and "intend" or future or conditional verbs such as "will," "would," "should," "could," or "may." Although these statements are based on management's current expectations and estimates, actual conditions, results, and events may differ materially from those contemplated by such forward-looking statements, as they could be influenced by numerous factors which are unpredictable and outside the Company's control. Factors that may cause actual results to differ materially from such statements include, among others, the following: (1) general national or regional economic conditions, national fiscal or monetary policies, or national or international tariff or trade conditions result in a deterioration of the credit quality of our loan portfolio or diminished demand for the Company's products and services; (2) changes in laws or government rules, or the way in which courts interpret those laws or rules, adversely affect the financial industry generally or the Company's business in particular, or may impose additional costs and regulatory requirements; (3) interest rates change in such a way as to reduce the Company's interest margins and its funding sources; and (4) competitive pressures increase among financial services providers in the Company's northern New England market area or in the financial services industry generally, including pressures from nonbank financial service providers, from increasing consolidation and integration of financial service providers and from changes in technology and delivery systems, and other factors that are listed from time to time in our financial filings with the SEC, including our Forms 10Q and 10K. The Company cautions you not to rely unduly on forward-looking statements because the assumptions, beliefs, expectations, and projections about future events may, and often do, differ materially from actual results or events. Any forward-looking statement speaks only as to the date on which it is made, and we undertake no obligation to update any forward-looking statement to reflect developments occurring after the statement is made, except as otherwise required by law.

Use of Non-GAAP Financial Measures

In addition to evaluating the Company's results of operations in accordance with generally accepted accounting principles in the United States ("GAAP"), management supplements this evaluation with certain non-GAAP financial measures such as pre-tax, pre-provision income; fully diluted tangible book value per common share and tangible common equity to tangible assets. Management believe these non-GAAP financial measures help investors better understand the Company's operating performance and trends and allow for better performance comparisons to other financial institutions. In addition, these non-GAAP financial measures remove the impact of unusual items that may obscure trends in the Company's underlying performance. These disclosures should not be viewed as a substitute for GAAP operating results, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other financial institutions. Reconciliations to the comparable GAAP financial measures can be found at the end of this document.

Community Bancorp. And Subsidiary
Consolidated Balance Sheets (unaudited)

June 30,

December 31,

2026

2025

Assets

Cash and due from banks

$

19,772,554

$

11,802,391

Federal funds sold and overnight deposits

5,840,996

116,259,370

Total cash and cash equivalents

25,613,550

128,061,761

Securities available-for-sale (amortized cost $139,848,277
and $156,694,754 at 06/30/26 and 12/31/25, respectively

127,982,828

144,528,758

Restricted equity securities, at cost

1,918,950

2,933,050

Loans held-for-sale

813,332

138,000

Loans

970,535,252

965,285,662

Allowance for credit losses

(11,881,321

)

(10,864,983

)

Deferred net loan costs

940,423

786,604

Net loans

959,594,354

955,207,283

Bank premises and equipment, net

12,220,494

12,090,886

Accrued interest receivable

4,505,039

4,607,975

Bank owned life insurance

5,435,603

5,398,085

Goodwill

11,574,269

11,574,269

Other real estate owned

-

319,019

Other assets

23,090,295

22,699,860

Total assets

$

1,172,748,714

$

1,287,558,946

Liabilities and Shareholders' Equity

Liabilities

Deposits:

Demand, non-interest bearing

$

204,738,374

$

218,842,543

Interest-bearing transaction accounts

278,551,211

299,636,739

Money market funds

125,665,889

187,132,921

Savings

146,071,626

142,543,291

Time deposits, $250,000 and over

48,195,437

46,913,997

Other time deposits

178431659

175,598,510

Total deposits

981,654,196

1,070,668,001

Repurchase agreements

35,019,257

41,498,171

Borrowed funds

10,975,022

35,975,022

Junior subordinated debentures

12,887,000

12,887,000

Accrued interest and other liabilities

11,319,225

12,843,774

Total liabilities

1,051,854,700

1,173,871,968

Shareholders' Equity

Common stock - $2.50 par value; 15,000,000 shares authorized,

5,902,267 shares issued at 06/30/26, 5,882,266 shares issued at 12/31/25

14,755,668

14,705,665

Additional paid-in capital

40,757,013

40,076,561

Retained earnings

79,287,690

73,021,908

Accumulated other comprehensive loss

(9,373,705

)

(9,611,137

)

Less: treasury stock, at cost; 300,409 shares at 06/30/26 and 299,399
shares at 12/31/25

(4,532,652

)

(4,506,019

)

Total shareholders' equity

120,894,014

113,686,978

Total liabilities and shareholders' equity

$

1,172,748,714

$

1,287,558,946

Book value per common share outstanding

$

21.58

$

20.36

Community Bancorp. and Subsidiary
Consolidated Statements of Income (unaudited)

Quarter Ended

Quarter Ended

June 30, 2026

June 30, 2025

Interest income

Interest and fees on loans

$

14,748,598

$

13,691,705

Interest on taxable debt securities

741,821

948,048

Interest on tax-exempt debt securities

80,411

80,411

Dividends

47,363

58,595

Interest on federal funds sold and overnight deposits

424,413

71,857

Total interest income

16,042,606

14,850,616

Interest expense

Interest on deposits

4,009,541

3,972,008

Interest on borrowed funds

301,838

444,596

Interest on repurchase agreements

262,376

298,057

Interest on junior subordinated debentures

221,045

241,413

Total interest expense

4,794,800

4,956,074

Net interest income

11,247,806

9,894,542

Credit loss expense

720,967

407,046

Net interest income after credit loss expense

10,526,839

9,487,496

Non-interest income

Service fees

988,219

969,775

Income from sold loans

89,692

96,705

Other income from loans

537,043

331,759

Income from investment in CFS Partners

579,795

548,307

Other income

117,998

112,165

Total non-interest income

2,312,747

2,058,711

Non-interest expense

Salaries and wages

2,632,767

2,392,661

Employee benefits

1,102,841

1,056,273

Occupancy expenses, net

779,462

794,451

Other expenses

2,650,168

2,424,015

Total non-interest expense

7,165,238

6,667,400

Income before income taxes

5,674,348

4,878,807

Income tax expense

986,564

819,031

Net income

$

4,687,784

$

4,059,776

Earnings per common share

$

0.84

$

0.72

Weighted average number of common shares
used in computing earnings per share

5,594,749

5,612,675

Dividends declared per common share

$

0.25

$

0.24

Six Months Ended

Six Months Ended

June 30, 2026

June 30, 2025

Interest income

Interest and fees on loans

$

29,181,219

$

26,906,737

Interest on taxable debt securities

1,546,571

1,807,276

Interest on tax-exempt debt securities

160,823

160,823

Dividends

99,321

106,485

Interest on federal funds sold and overnight deposits

1,081,511

393,806

Total interest income

32,069,445

29,375,127

Interest expense

Interest on deposits

8,186,172

8,157,915

Interest on borrowed funds

687,788

815,574

Interest on repurchase agreements

556,106

584,016

Interest on junior subordinated debentures

443,692

484,758

Total interest expense

9,873,758

10,042,263

Net interest income

22,195,687

19,332,864

Credit loss expense

1,112,473

732,100

Net interest income after credit loss expense

21,083,214

18,600,764

Non-interest income

Service fees

1,924,696

1,856,557

Income from sold loans

159,237

166,082

Other income from loans

887,238

601,927

Income from investment in CFS Partners

822,234

797,658

Other income

264,682

215,096

Total non-interest income

4,058,087

3,637,320

Non-interest expense

Salaries and wages

5,211,603

4,712,727

Employee benefits

2,214,118

2,074,245

Occupancy expenses, net

1,554,443

1,576,307

Other expenses

5,242,433

4,807,731

Total non-interest expense

14,222,597

13,171,010

Income before income taxes

10,918,704

9,067,074

Income tax expense

1,861,817

1,481,843

Net income

$

9,056,887

$

7,585,231

Earnings per common share

$

1.62

$

1.34

Weighted average number of common shares
used in computing earnings per share

5,590,465

5,608,997

Dividends declared per common share

$

0.50

$

0.48

Community Bancorp. and Subsidiary
Earnings Per Share ("EPS") (unaudited)
(Dollars in thousands, except share data)

For the Quarter Ended June 30,

For the Six Months Ended June 30,

2026

2025

2026

2025

(In thousands, except per share data)

Net income

$

4,688

$

4,060

$

9,057

$

7,585

Less: dividends to preferred shareholders

-

$

28

-

$

56

Net income available to common shareholders

$

4,688

$

4,032

$

9,057

$

7,529

Weighted average number of common shares used in computing earnings per share

5,594,749

5,612,675

5,590,465

5,608,997

Earnings per common share

$

0.84

$

0.72

$

1.62

$

1.34

Reconciliation of GAAP to Non-GAAP Measures
(unaudited)

Community Bancorp. and Subsidiary
(Dollars in thousands, except share data)

Quarter Ended

June 30, 2026

Computation of Pre-tax, pre-provision net revenue

Net interest income

$

11,247,806

Non-interest income

$

2,312,747

Less: Non-interest expense

$

7,165,238

Pre-tax, pre-provision net revenue

$

6,395,315

Computation of Pre-tax, pre-provision net revenue return on average assets

Pre-tax, pre-provision net revenue

$

6,395,315

Average Assets

$

1,228,309,434

Pre-tax, pre-provision net revenue return on average assets

2.11

%

As of

June 30, 2026

December 31, 2025

June 30, 2025

Computation of Fully Diluted Tangible Book Value per Common Share

Total shareholders' equity

$

120,894

$

113,687

$

106,343

Less:

Preferred Stock

-

-

$

1,500

Common shareholders' equity

$

120,894

$

113,687

$

104,843

Less:

Goodwill

$

11,574

$

11,574

$

11,574

Other Intangibles

-

-

-

Tangible common shareholders' equity

$

109,320

$

102,113

$

93,269

Common shares issued and outstanding

5,601,858

5,582,927

5,608,914

Fully Diluted Tangible Book Value per Common Share

$

19.51

$

18.29

$

16.63

As of

June 30, 2026

December 31, 2025

June 30, 2025

Computation of Tangible Common Equity to Tangible Assets

Common Equity

$

120,894

$

113,687

$

106,343

Less:

Goodwill

$

11,574

$

11,574

$

11,574

Other Intangibles

-

-

-

Tangible Common Equity

$

109,320

$

102,113

$

94,769

Total Assets

$

1,172,749

$

1,287,559

$

1,166,586

Less:

Goodwill

$

11,574

$

11,574

$

11,574

Other Intangibles

-

-

-

Tangible Assets

$

1,161,175

$

1,275,985

$

1,155,012

Tangible Common Equity to Tangible Assets

9.41

%

8.00

%

8.21

%

For more information, contact:
Investor Relations
[email protected]

SOURCE: Community Bancorp. Inc Vermont

Key Takeaways Boston Beer's Q2 EPS fell 33% y/y to $3.65, while revenues declined 3.3% to $568 million.SAM's depletions dropped 6% as weakness across key brands offset growth in Sun Cruiser and Angry Orchard.SAM cut its 2026 capital spending forecast to $60-$80 million from $70-$90 million. The Boston Beer Company, Inc. (SAM - Free Report) reported lower-than-expected revenues and earnings in second-quarter 2026. The top and bottom lines also fell year over year. It posted second-quarter adjusted earnings per share (EPS) of $3.65, missing the Zacks Consensus Estimate of $4.77. The reported number decreased 33% from the year-ago figure.

Net revenues declined 3.3% to $568 million and missed the consensus estimate of $572 million by 0.7%. Higher advertising, promotional and selling expenses, along with lower volumes, weighed on results.

SAM Faces Weaker Volumes and Brand PressureDepletions dipped 6% in the quarter, while shipment volume declined 4.5% to about 2 million barrels. Lower shipments of Twisted Tea, Truly, Samuel Adams, Hard Mountain Dew and Dogfish Head more than offset growth in Sun Cruiser and Angry Orchard.

Year-to-date depletions through the 26-week period ended June 27, 2026, decreased roughly 5% from the comparable period in 2025.

Boston Beer said distributor inventories were appropriate at the quarter-end and averaged roughly four and a half weeks on hand, unchanged from the comparable 2025 period. Favorable product mix and pricing partly cushioned the impact of lower volumes.

Analysis of Boston Beer’s Q2 Margins & ExpensesSAM reported a gross margin of 50.4%, up 60 basis points (bps) from the second quarter of 2025, benefiting from price increases, a favorable product mix, procurement savings and enhanced brewery efficiencies. The gain was partly offset by inflationary, commodity and tariff costs. Gross margin also included $1.6 million of shortfall fees and non-cash expenses of third-party production pre-payments in total, which hurt the metric by nearly 28 bps on an absolute basis.

Advertising, promotional and selling expenses increased 16.4%, or $26.2 million, from the prior-year quarter. The increase included $17.5 million of higher brand, local marketing and point-of-sale investments.

Freight costs rose $8.6 million because of higher rates, partly offset by lower volumes. General and administrative expenses increased $3.1 million, mainly because of higher legal fees and salary and benefit costs.

SAM Maintains Liquidity and Returns Cash to HoldersBoston Beer ended the quarter with $265.5 million in cash and no debt. Net cash provided by operating activities totaled $117.6 million for the first 26 weeks of 2026, while capital expenditures were $22.9 million.

The company repurchased $54.1 million of Class A shares from Dec. 29, 2025, through July 17, 2026. About $174 million remained under its board-authorized $1.6 billion repurchase limit as of July 17.

SAM Updates 2026 GuidanceBoston Beer updated its full-year 2026 guidance while cautioning that results remain sensitive to volume trends, supply-chain execution, inflation, commodity costs and tariff policies. The company continues to expect depletions and shipments to decline in the low-single-digit to mid-single-digit range, with price increases of 1-2%. It raised the lower end of its gross margin outlook to 48.5% from 48%, while retaining the upper end at 50%. Tariff costs are still projected at $20-$30 million.

Management lowered its anticipated year-over-year increase in advertising, promotional and selling expenses to $0-$20 million from $20-$40 million expected earlier. It also revised the GAAP loss outlook to $6.23-$4.23 per share from a loss of $7.02-$5.02, reflecting a reduced litigation-related impact of $14.73 per share versus $15.52 previously. The adjusted tax rate forecast remains 29-30%, while adjusted earnings guidance was maintained at $8.50-$10.50 per share. Capital spending is now expected to be $60-$80 million, down from the prior projection of $70-$90 million.

The company continues to monitor commodity inflation, particularly energy costs, which affect freight and aluminum expenses. Supply-chain improvements implemented in 2025 have helped stabilize distributor inventory levels, though shipment timing is expected to influence second-half comparisons. Boston Beer anticipates shipments to decline in the low- to mid-single-digit range in the third quarter, followed by modest growth in the fourth quarter.

Gross margin improvement is expected to be most pronounced in the fourth quarter, aided by lower shortfall fees compared with the prior year. However, shortfall fees and non-cash expenses related to third-party production prepayments are still projected to reduce full-year gross margin by 40-60 basis points. Advertising investment is expected to decline year over year in the fourth quarter due to lower planned spending and a tough comparison with elevated production costs in the prior-year period.

This Zacks Rank #3 (Hold) company’s shares have declined 25.5% in the past three months, underperforming the industry’s 3.8% growth.

SAM Stock's Price Performance
Image Source: Zacks Investment Research

Stocks to ConsiderSome better-ranked stocks have been discussed below:

Fomento Económico Mexicano, S.A.B. de C.V. (FMX - Free Report) operates as a franchise bottler of Coca-Cola trademark beverages worldwide. It currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for FMX's current fiscal-year sales and earnings indicates growth of 17.3% and 131%, respectively. FMX delivered a trailing four-quarter negative earnings surprise of nearly 17%, on average.

Mama's Creations, Inc. (MAMA - Free Report) manufactures and markets fresh deli-prepared foods in the United States. At present, the company flaunts a Zacks Rank of 1. Mama's Creations delivered a trailing four-quarter earnings surprise of 129.2%, on average.

The consensus estimate for Mama's Creations’ current fiscal-year sales and earnings implies growth of 30% and 73.3%, respectively, from the year-ago figures.

The Vita Coco Company, Inc. (COCO - Free Report) develops, manufactures, markets and distributes coconut water products under the Vita Coco brand name. The company currently carries a Zacks Rank #2 (Buy).

The Zacks Consensus Estimate for COCO's current fiscal-year sales and earnings implies growth of 22.3% and 48.7%, respectively, from the year-ago actuals. COCO delivered a trailing four-quarter earnings surprise of 11.7%, on average.

Investors interested in Insurance - Multi line stocks are likely familiar with Radian (RDN) and Axa Sa (AXAHY). But which of these two stocks presents investors with the better value opportunity right now?

SEI Investments (SEIC - Free Report) could be a solid choice for investors given the company's remarkably improving earnings outlook. While the stock has been a strong performer lately, this trend might continue since analysts are still raising their earnings estimates for the company.

Analysts' growing optimism on the earnings prospects of this investment management firm is driving estimates higher, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. This insight is at the core of our stock rating tool -- the Zacks Rank.

The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008.

Consensus earnings estimates for the next quarter and full year have moved considerably higher for SEI Investments, as there has been strong agreement among the covering analysts in raising estimates.

The chart below shows the evolution of forward 12-month Zacks Consensus EPS estimate:

12 Month EPS

Current-Quarter Estimate RevisionsThe company is expected to earn $1.59 per share for the current quarter, which represents a year-over-year change of +22.3%.

Over the last 30 days, four estimates have moved higher for SEI compared to no negative revisions. As a result, the Zacks Consensus Estimate has increased 6.01%.

Current-Year Estimate RevisionsThe company is expected to earn $6.20 per share for the full year, which represents a change of +10.1% from the prior-year number.

There has been an encouraging trend in estimate revisions for the current year as well. Over the past month, four estimates have moved up for SEI versus no negative revisions. This has pushed the consensus estimate 5.4% higher.

Favorable Zacks RankThanks to promising estimate revisions, SEI currently carries a Zacks Rank #1 (Strong Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision.

You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500.

Bottom LineWhile strong estimate revisions for SEI have attracted decent investments and pushed the stock 10% higher over the past four weeks, further upside may still be left in the stock. So, you may consider adding it to your portfolio right away.