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SCHAFFHAUSEN, Switzerland, July 30, 2026 (GLOBE NEWSWIRE) -- Monolithic Power Systems, Inc. (“MPS”) reported its results after market close on July 30, 2026 and will host a question-and-answer webinar at 2:00 p.m. PT / 5:00 p.m. ET. The webinar can be accessed from the Investor Relations section of the MPS website at www.monolithicpower.com.

Q2 2026 Financial Summary(Unaudited)   GAAP           Q2'26 Q1'26 Q2'25 QoQ Change YoY ChangeRevenue ($M)$980.6  $804.2  $664.6  21.9% 47.6%Gross Margin 55.2%  55.3%  55.1% (0.1) pts 0.1 ptsOpex ($M)$237.2  $203.9  $201.3  16.3% 17.8%Operating Margin 31.0%  30.0%  24.8% 1.0 pts 6.2 ptsNet income ($M)$257.3  $193.2  $135.0  33.2% 90.6%Diluted EPS$5.22  $3.92  $2.81  33.2% 85.8%                   Non-GAAP           Q2'26 Q1'26 Q2'25 QoQ Change YoY ChangeRevenue ($M)$980.6  $804.2  $664.6  21.9% 47.6%Gross Margin 55.6%  55.5%  55.5% 0.1 pts 0.1 ptsOpex ($M)$177.6  $158.3  $137.6  12.1% 29.1%Operating Margin 37.5%  35.8%  34.8% 1.7 pts 2.7 ptsNet income ($M)$320.1  $251.3  $202.2  27.4% 58.3%Diluted EPS$6.50  $5.10  $4.21  27.5% 54.4%Tax Rate 15.0%  15.0%  15.0% Flat Flat                 Revenue by End Market                 Revenue % Change % of RevenueEnd Market ($M) Q2'26 Q1'26 Q2'25 QoQ YoY  Q2'26 Q1'26Enterprise Data $380.6 $262.8 $144.0 44.8% 164.3% 38.8% 32.7%Storage & Computing  199.8  174.4  195.3 14.6% 2.3% 20.4  21.7 Automotive  157.1  152.4  145.1 3.1% 8.2% 16.0  18.9 Communications  131.5  111.5  73.8 18.0% 78.3% 13.4  13.9 Consumer  56.8  54.5  59.7 4.2% (4.8%) 5.8  6.8 Industrial  54.8  48.6  46.7 12.7% 17.3% 5.6  6.0 Total $980.6 $804.2 $664.6 21.9% 47.6% 100% 100%                       Ongoing Business Conditions

In the second quarter of 2026, MPS achieved record quarterly revenue of $980.6 million, 21.9% higher than the first quarter of 2026 and 47.6% higher than revenue in the second quarter of 2025.

Our quarterly performance was the result of our continued innovation, our consistent execution and the resilience of our diversified market and supply chain strategy.

Q2 2026 highlights include:

All end markets grew sequentially with Enterprise Data growing 45% as we continued to see strong, broad-based ordering patterns.
We extended our capacity goal significantly beyond $6B to support future revenue growth and our transformation into a full solution provider.
We received initial orders for high-speed DDR5 memory components which we expect to grow our SAM into next year.
We began sampling High Voltage AC to DC products for 800V data center architectures as we expand beyond our current AI and server core power solutions.
In our Automotive market, so far this year, we have shipped products for over 1500 new sockets as we increase our footprint in both ADAS and other applications within the vehicle.
We continue to adjust to the fluid geopolitical and macro-economic environment, but our diversified market strategy remains unchanged:

MPS focuses on innovation and solving our customers’ most challenging problems.We consistently invest in new technologies that open new end markets and applications.We continuously expand and diversify our global supply chain allowing us to capture future growth opportunities, maintain supply stability, and rapidly adapt to market changes as they occur.
“Our results demonstrate the strength of our diversified model and our continued success in transforming from a chip-only, semiconductor supplier to a full service solutions provider,” said Michael Hsing, CEO and founder of MPS.

Q2 2026 Revenue Results

MPS reported second quarter revenue of $980.6 million, 21.9% higher than the first quarter of 2026 and 47.6% higher than revenue in the second quarter of 2025. Compared with the first quarter of 2026, sales improved sequentially across all end markets.

In our Enterprise Data market, second quarter 2026 revenue of $380.6 million increased 44.8% from the first quarter of 2026. The sequential increase was driven by higher sales of our power management solutions for AI and server applications. Second quarter 2026 Enterprise Data revenue was up 164.3% year over year. Enterprise Data revenue represented 38.8% of our total second quarter 2026 revenue compared with 32.7% in the first quarter of 2026.

Second quarter 2026 Communications revenue of $131.5 million was up 18.0% from the first quarter of 2026 primarily as a result of higher sales of power solutions for optical modules and switches. Second quarter 2026 Communications revenue was up 78.3% year over year. Communications sales represented 13.4% of our total second quarter 2026 revenue compared with 13.9% the first quarter of 2026.

Second quarter 2026 Storage and Computing revenue of $199.8 million increased 14.6% from the first quarter of 2026 on higher sales for memory and storage power management solutions. Second quarter 2026 Storage and Computing revenue was up 2.3% year over year. Storage and Computing revenue represented 20.4% of MPS’s second quarter 2026 revenue compared with 21.7% in the first quarter of 2026.

Second quarter 2026 Industrial revenue of $54.8 million increased 12.7% from the first quarter of 2026. Second quarter 2026 Industrial revenue was up 17.3% year over year. Industrial revenue represented 5.6% of our total second quarter 2026 revenue compared with 6.0% in the first quarter of 2026.

Second quarter 2026 Consumer revenue of $56.8 million increased 4.2% from the first quarter of 2026. Second quarter 2026 Consumer revenue was down 4.8% year over year. Consumer revenue represented 5.8% of our total second quarter 2026 revenue compared with 6.8% in the first quarter of 2026.

Second quarter Automotive revenue of $157.1 million increased 3.1% from the first quarter of 2026 primarily from higher sales of Infotainment and ADAS power solutions. Second quarter 2026 Automotive revenue was up 8.2% year over year. Automotive revenue represented 16.0% of our second quarter 2026 revenue compared with 18.9% in the first quarter of 2026.

Q2 2026 Gross Margin & Operating Income

GAAP gross margin was 55.2%, 0.1 percentage points lower than the first quarter of 2026. Our GAAP operating income was $303.9 million compared to $241.2 million reported in the first quarter of 2026.

Non-GAAP gross margin for the second quarter of 2026 was 55.6%, 0.1 percentage points higher than the first quarter of 2026. Our non-GAAP operating income was $367.7 million compared to $288.0 million reported in the first quarter of 2026.

Q2 2026 Operating Expenses

GAAP operating expenses were $237.2 million in the second quarter of 2026 compared with $203.9 million in the first quarter of 2026. Non-GAAP operating expenses were $177.6 million, up from $158.3 million in the first quarter of 2026.

The differences between non-GAAP operating expenses and GAAP operating expenses for the quarters discussed here are primarily stock-based compensation and related expenses and deferred compensation plan expense.

Total stock-based compensation and related expenses, including approximately $1.8 million charged to cost of goods sold, was $53.5 million in the second quarter of 2026 compared with $48.5 million in the first quarter of 2026.

The Bottom Line

Second quarter 2026 GAAP net income was $257.3 million or $5.22 per fully diluted share, compared with $193.2 million or $3.92 per fully diluted share in the first quarter of 2026.

Second quarter 2026 non-GAAP net income was $320.1 million or $6.50 per fully diluted share, compared with $251.3 million or $5.10 per fully diluted share in the first quarter of 2026.

Second quarter 2026 non-GAAP tax rate of 15% was flat to the first quarter of 2026.

There were 49.3 million fully diluted shares outstanding at the end of the second quarter of 2026.

Balance Sheet and Cash Flow

Cash, cash equivalents and short-term investments were $1,413.8 million at the end of the second quarter of 2026 compared to $1,367.1 million at the end of the first quarter of 2026. For the second quarter of 2026, MPS generated operating cash flow of $227.9 million compared with first quarter of 2026 operating cash flow of $250.3 million.

Accounts receivable at the end of the second quarter of 2026 were $343.6 million, representing 32 days of sales outstanding, which was 2 days lower than the 34 days reported at the end of the first quarter of 2026.

Our internal inventories at the end of the second quarter of 2026 were $675.8 million, up from $619.2 million at the end of the first quarter of 2026. Days of inventory of 140 days at the end of the second quarter of 2026 was 17 days lower than at the end of the first quarter of 2026.

Comparing current inventory levels using next quarter’s projected revenue, days of inventory at the end of the second quarter of 121 days was 7 days lower than at the end of the first quarter of 2026.

Selected Balance Sheet and Inventory Data(Unaudited)       Q2'26 Q1'26 Q2'25Cash, Cash Equivalents, and Short-Term Investments$ 1,413.8 M $ 1,367.1 M $ 1,146.1 MOperating Cash Flow$ 227.9 M $ 250.3 M $ 237.6 MAccounts Receivable$ 343.6 M $ 302.1 M $ 194.8 MDays of Sales Outstanding32 Days 34 Days 27 DaysInternal Inventories$ 675.8 M $ 619.2 M $ 490.6 MDays of Inventory (current quarter revenue)140 Days 157 Days 150 DaysDays of Inventory (next quarter revenue)121 Days 128 Days 135 Days       Q3 2026 Business Outlook

For the third quarter of 2026 ending September 30, we are forecasting:

Revenue in the range of $1,140 million to $1,160 million.GAAP gross margin in the range of 55.2% to 55.8%.Non-GAAP gross margin in the range of 55.4% to 56.0%, which excludes the impact from stock-based compensation and related expenses as well as the impact from amortization of acquisition-related intangible assets.Total stock-based compensation and related expenses in the range of $53.2 million to $55.2 million including approximately $1.7 million that would be charged to cost of goods sold.GAAP operating expenses between $252.7 million and $258.7 million.Non-GAAP operating expenses in the range of $201.2 million to $205.2 million. This estimate excludes stock-based compensation and related expenses in the range of $51.5 million to $53.5 million.Interest and other income in the range from $7.8 million to $8.2 million before foreign exchange gains or losses.Non-GAAP tax rate of 15% for 2026.Fully diluted shares outstanding in the range of 49.1 to 49.5 million shares.
In addition, our Board of Directors has authorized an additional $500 million for stock repurchases bringing our total current authorization to $1 billion.

For further information, contact:

Tony Balow
Vice President, Finance
Monolithic Power Systems, Inc.
[email protected]

Safe Harbor Statement

This earnings commentary contains, and statements that will be made during the accompanying webinar will contain, forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995, that should not be unduly relied upon, including under the “Q3 2026 Business Outlook” section herein, our statement regarding our business focus, our statement regarding our capacity growth goal, our statement regarding our expected shipments for the Automotive end market, our statement regarding our expected expansion of our SAM for high-speed DDR5 memory components, our statement regarding the expansion and diversification of our supply chain to allow us to capture future growth opportunities, maintain supply stability and swiftly adapt to market changes as they occur, and our statement regarding the major customer sampling of our first high speed interface products for DDR5, including, among other things, (i) projected revenue, GAAP and non-GAAP gross margin, GAAP and non-GAAP operating expenses, stock-based compensation and related expenses, amortization of acquisition-related intangible assets, other income before foreign exchange gains or losses, and fully diluted shares outstanding, (ii) our outlook for the third quarter of fiscal year 2026 and the near-term, medium-term and long-term prospects of MPS, including our ability to adapt to changing market conditions, performance against our business plan, our ability to grow despite the various challenges facing our business, our industry and the global economic environment, potential new business segments, our continued investment in research and development (“R&D”), expected revenue growth, customers’ acceptance of our new product offerings, the prospects of our new product development, our expectations regarding market and industry trends and prospects, and our goal to expand our capacity and the impact it may have on our business, (iii) our ability to penetrate new markets and expand our market share, (iv) our ability to reduce our expenses, and (vi) statements regarding the assumptions underlying or relating to any statement described above. These forward-looking statements are not historical facts or guarantees of future performance or events, are based on current expectations, estimates, beliefs, assumptions, goals, and objectives, and involve significant known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from the results expressed by these statements. Readers of this earnings commentary and listeners to the accompanying conference call are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. Factors that could cause actual results to differ include, but are not limited to, continued uncertainties in the global economy, including due to current and potential global conflicts, global tariffs, export controls and retaliatory measures and announcements regarding same, inflation, consumer sentiment and other factors; adverse events arising from orders or regulations of governmental entities, including such orders or regulations that impact our customers or suppliers, and adoption of new or amended accounting standards; adverse changes in laws and government regulations such as tariffs on imports of foreign goods, export regulations and export classifications, and tax laws or the interpretation of same, including in foreign countries where MPS has offices or operations; the effect of export controls, trade and economic sanctions regulations and other regulatory or contractual limitations on our ability to sell or develop our products in certain foreign markets, particularly in China; our ability to obtain governmental licenses and approvals for international trading activities or technology transfers, including export licenses; acceptance of, or demand for, our products, in particular the new products launched recently, being different than expected; our ability to increase market share in our targeted markets; difficulty in predicting or budgeting for future customer demand and channel inventories, expenses and financial contingencies (including as a result of any impact from current and potential global conflicts); our ability to efficiently and effectively develop new products and receive a return on our R&D expense investment; our ability to attract new customers and retain existing customers; our ability to meet customer demand for our products due to constraints on our third-party suppliers’ ability to manufacture sufficient quantities of our products or otherwise; our ability to expand manufacturing capacity to support future growth; adverse changes in production and testing efficiency of our products; any political, cultural, military, regulatory, economic, foreign exchange and operational changes in China, where a significant portion of our manufacturing capacity comes from; any market disruptions or interruptions in our schedule of new product development releases; our ability to manage our inventory levels; adequate supply of our products from our third-party manufacturing partners; adverse changes or developments in the semiconductor industry generally, which is cyclical in nature, and our ability to adjust our operations to address such changes or developments; the ongoing consolidation of companies in the semiconductor industry; competition generally and the increasingly competitive nature of our industry; our ability to realize the anticipated benefits of companies and products that MPS acquires, and our ability to effectively and efficiently integrate these acquired companies and products into our operations; the risks, uncertainties and costs of litigation in which MPS is involved; the outcome of any upcoming trials, hearings, motions and appeals; the adverse impact on our financial performance if its tax and litigation provisions are inadequate; our ability to effectively manage our growth and attract and retain qualified personnel; the effect of epidemics and pandemics on the global economy and on our business; the risks associated with the financial market, economy, global tariffs, export controls and retaliatory measures and announcements regarding same, and geopolitical uncertainties, including current and potential global conflicts; the Company’s ability to timely and adequately remediate its material weakness; and other important risk factors identified under the caption “Risk Factors” and elsewhere in our Securities and Exchange Commission (“SEC”) filings, including, but not limited to, our Annual Report on Form 10-K filed with the SEC on February 27, 2026. MPS assumes no obligation to update the information in this earnings commentary or in the accompanying webinar.

Non-GAAP Financial Measures

This earnings commentary contains references to certain non-GAAP financial measures. Non-GAAP net income, non-GAAP net income per share, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating income, non-GAAP other income, net, and non-GAAP income before income taxes differ from net income, net income per share, gross margin, operating expenses, operating income, other income, net, and income before income taxes determined in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”). Non-GAAP net income and non-GAAP net income per share exclude the effect of stock-based compensation and related expenses, which include stock-based compensation expense and employer payroll taxes in relation to the stock-based compensation, amortization of acquisition-related intangible assets, net deferred compensation plan expense, and related tax effects. Non-GAAP gross margin excludes the effect of stock-based compensation and related expenses, amortization of acquisition-related intangible assets and deferred compensation plan expense. Non-GAAP operating expenses exclude the effect of stock-based compensation and related expenses, amortization of acquisition-related intangible assets and deferred compensation plan expense. Non-GAAP operating income excludes the effect of stock-based compensation and related expenses, amortization of acquisition-related intangible assets and deferred compensation plan expense. Non-GAAP other income, net excludes the effect of deferred compensation plan income. Non-GAAP income before income taxes excludes the effect of stock-based compensation and related expenses, amortization of acquisition-related intangible assets and net deferred compensation plan expense. Projected non-GAAP gross margin excludes the effect of stock-based compensation and related expenses, and amortization of acquisition-related intangible assets. Projected non-GAAP operating expenses exclude the effect of stock-based compensation and related expenses. These non-GAAP financial measures are not prepared in accordance with GAAP and should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. MPS utilizes both GAAP and non-GAAP financial measures to assess what it believes to be its core operating performance and to evaluate and manage its internal business and assist in making financial operating decisions. MPS believes that the inclusion of non-GAAP financial measures, together with GAAP measures, provides investors with an alternative presentation useful to investors’ understanding of MPS’s core operating results and trends. Additionally, MPS believes that the inclusion of non-GAAP measures, together with GAAP measures, provides investors with an additional dimension of comparability to similar companies. However, investors should be aware that non-GAAP financial measures utilized by other companies are not likely to be comparable in most cases to the non-GAAP financial measures used by MPS. See the GAAP to Non-GAAP reconciliations in the tables set forth below.

About Monolithic Power Systems

MPS is a fabless global company that provides high-performance, semiconductor-based power electronics solutions. MPS’s mission is to reduce energy and material consumption to improve all aspects of quality of life and create a sustainable future. Founded in 1997 by our CEO Michael Hsing, MPS has three core strengths: deep system-level knowledge, strong semiconductor design expertise, and innovative proprietary technologies in the areas of semiconductor processes, system integration, and packaging. These combined advantages enable MPS to deliver reliable, compact, and monolithic solutions that are highly energy-efficient, cost-effective, and environmentally responsible while providing a consistent return on investment to our stockholders. MPS can be contacted through its website at www.monolithicpower.com or its support offices around the world.

Monolithic Power Systems, MPS, and the MPS logo are registered trademarks of Monolithic Power Systems, Inc. in the U.S. and trademarked in certain other countries.

Monolithic Power Systems, Inc.
Condensed Consolidated Balance Sheets
(Unaudited, in thousands, except par value)
     June 30, December 31, 2026 2025ASSETS   Current assets:   Cash and cash equivalents$1,005,587 $1,099,302 Short-term investments 408,174  157,243 Accounts receivable, net 343,620  255,626 Inventories 675,849  564,649 Other current assets 44,156  106,982 Total current assets 2,477,386  2,183,802 Property and equipment, net 774,549  627,689 Acquisition-related intangible assets, net 8,216  8,790 Goodwill 25,944  25,944 Deferred tax assets, net 1,182,833  1,182,883 Other long-term assets 217,279  165,091 Total assets$4,686,207 $4,194,199     LIABILITIES AND STOCKHOLDERS’ EQUITY   Current liabilities:   Accounts payable$182,224 $138,272 Accrued compensation and related benefits 93,635  85,963 Other accrued liabilities 222,075  145,130 Total current liabilities 497,934  369,365 Income tax liabilities 75,022  75,022 Deferred tax liabilities 90,316  90,480 Other long-term liabilities 127,511  127,835 Total liabilities 790,783  662,702 Commitments and contingencies   Stockholders’ equity:   Common stock and additional paid-in capital: $0.001 par value; shares authorized: 150,000; shares issued and outstanding: 49,142 and 48,709, respectively 1,033,062  936,998 Retained earnings 2,861,853  2,609,651 Accumulated other comprehensive income (loss) 509  (15,152)Total stockholders’ equity 3,895,424  3,531,497 Total liabilities and stockholders’ equity$4,686,207 $4,194,199         Monolithic Power Systems, Inc.
Condensed Consolidated Statements of Operations
(Unaudited, in thousands, except per share amounts)
     Three Months Ended June 30, Six Months Ended June 30,  2026  2025  2026  2025Revenue$980,642 $664,574 $1,784,827 $1,302,128Cost of revenue 439,572  298,558  798,692  582,882Gross profit 541,070  366,016  986,135  719,246Operating expenses:       Research and development 118,618  96,266  219,184  188,493Selling, general and administrative 118,558  104,992  221,905  197,236Total operating expenses 237,176  201,258  441,089  385,729Operating income 303,894  164,758  545,046  333,517Other income, net 17,835  12,220  23,865  17,351Income before income taxes 321,729  176,978  568,911  350,868Income tax expense 64,431  41,969  118,387  80,807Net income$257,298 $135,009 $450,524 $270,061        Net income per share:       Basic$5.24 $2.82 $9.17 $5.64Diluted$5.22 $2.81 $9.15 $5.62Weighted-average shares outstanding:       Basic 49,138  47,887  49,118  47,869Diluted 49,260  48,019  49,251  48,012             RECONCILIATION OF NET INCOME TO NON-GAAP NET INCOME
(Unaudited, in thousands, except per share amounts)
     Three Months Ended
June 30, Six Months Ended
June 30,  2026  2025  2026  2025Net income$257,298 $135,009 $450,524 $270,061        Adjustments to reconcile net income to non-GAAP net income:       Stock-based compensation and related expenses 53,549  60,280  102,087  114,091Amortization of acquisition-related intangible assets 320  320  640  640Deferred compensation plan expense, net 963  281  585  275Tax effect 7,948  6,290  17,554  10,926Non-GAAP net income$320,078 $202,180 $571,390 $395,993        Non-GAAP net income per share:       Basic$6.51 $4.22 $11.63 $8.27Diluted$6.50 $4.21 $11.60 $8.25        Shares used in the calculation of non-GAAP net income per share:       Basic 49,138  47,887  49,118  47,869Diluted 49,260  48,019  49,251  48,012             RECONCILIATION OF GROSS MARGIN TO NON-GAAP GROSS MARGIN
(Unaudited, in thousands)
     Three Months Ended June 30, Six Months Ended June 30,  2026  2025  2026  2025Gross profit$541,070  $366,016  $986,135  $719,246 Gross margin 55.2%  55.1%  55.3%  55.2%        Adjustments to reconcile gross profit to non-GAAP gross profit:       Stock-based compensation and related expenses 1,767   1,915   3,449   3,621 Amortization of acquisition-related intangible assets 287   287   574   574 Deferred compensation plan expense 2,113   605   1,470   442 Non-GAAP gross profit$545,237  $368,823  $991,628  $723,883 Non-GAAP gross margin 55.6%  55.5%  55.6%  55.6%                 RECONCILIATION OF OPERATING EXPENSES TO NON-GAAP OPERATING EXPENSES
(Unaudited, in thousands)

 Three Months Ended June 30, Six Months Ended June 30,  2026  2025  2026  2025Total operating expenses$237,176  $201,258  $441,089  $385,729         Adjustments to reconcile total operating expenses to non-GAAP total operating expenses:       Stock-based compensation and related expenses (51,782)  (58,365)  (98,638)  (110,470)Amortization of acquisition-related intangible assets (33)  (33)  (66)  (66)Deferred compensation plan expense (7,781)  (5,256)  (6,458)  (4,063)Non-GAAP operating expenses$177,580  $137,604  $335,927  $271,130                  RECONCILIATION OF OPERATING INCOME TO NON-GAAP OPERATING INCOME
(Unaudited, in thousands)
     Three Months Ended June 30, Six Months Ended June 30,  2026  2025  2026  2025Total operating income$303,894 $164,758 $545,046 $333,517        Adjustments to reconcile total operating income to non-GAAP total operating income:       Stock-based compensation and related expenses 53,549  60,280  102,087  114,091Amortization of acquisition-related intangible assets 320  320  640  640Deferred compensation plan expense 9,894  5,861  7,928  4,505Non-GAAP operating income$367,657 $231,219 $655,701 $452,753             RECONCILIATION OF OTHER INCOME, NET, TO NON-GAAP OTHER INCOME, NET
(Unaudited, in thousands)
     Three Months Ended June 30, Six Months Ended June 30,  2026  2025  2026  2025Total other income, net$17,835  $12,220  $23,865  $17,351         Adjustments to reconcile other income, net to non-GAAP other income, net:       Deferred compensation plan income (8,931)  (5,580)  (7,343)  (4,230)Non-GAAP other income, net$8,904  $6,640  $16,522  $13,121                  RECONCILIATION OF INCOME BEFORE INCOME TAXES TO NON-GAAP INCOME BEFORE INCOME TAXES
(Unaudited, in thousands)
     Three Months Ended June 30, Six Months Ended June 30,  2026  2025  2026  2025Total income before income taxes$321,729 $176,978 $568,911 $350,868        Adjustments to reconcile income before income taxes to non-GAAP income before income taxes:       Stock-based compensation and related expenses 53,549  60,280  102,087  114,091Amortization of acquisition-related intangible assets 320  320  640  640Deferred compensation plan expense, net 963  281  585  275Non-GAAP income before income taxes$376,561 $237,859 $672,223 $465,874             2026 THIRD QUARTER OUTLOOK
RECONCILIATION OF GROSS MARGIN TO NON-GAAP GROSS MARGIN
(Unaudited)
   Three Months Ending  September 30, 2026 Low HighGross margin55.2% 55.8%Adjustment to reconcile gross margin to non-GAAP gross margin:   Stock-based compensation and other expenses0.2  0.2 Non-GAAP gross margin55.4% 56.0%       RECONCILIATION OF OPERATING EXPENSES TO NON-GAAP OPERATING EXPENSES
(Unaudited, in thousands)
   Three Months Ending  September 30, 2026 Low HighOperating expenses$252,700  $258,700 Adjustments to reconcile operating expenses to non-GAAP operating expenses:   Stock-based compensation and other expenses (51,500)  (53,500)Non-GAAP operating expenses$201,200  $205,200 

Hyatt Hotels Corporation (H) Q2 2026 Earnings Call July 30, 2026 10:00 AM EDT

Company Participants

Ryan Nuckols
Mark Hoplamazian - President, CEO & Chairman of the Board
Joan Bottarini - Executive VP & CFO

Conference Call Participants

Benjamin Chaiken - Mizuho Securities USA LLC, Research Division
Michael Bellisario - Robert W. Baird & Co. Incorporated, Research Division
Richard Clarke - Bernstein Institutional Services LLC, Research Division
Bennett Rose - Citigroup Inc., Research Division
Brandt Montour - Barclays Bank PLC, Research Division
Duane Pfennigwerth - Evercore ISI Institutional Equities, Research Division
Shaun Kelley - BofA Securities, Research Division
Daniel Politzer - JPMorgan Chase & Co, Research Division
Raymond Bowers - Wells Fargo Securities, LLC, Research Division
Stephen Grambling - Morgan Stanley, Research Division

Presentation

Operator

Good morning, and welcome to Hyatt's Second Quarter 2026 Earnings Conference Call. [Operator Instructions] As a reminder, this conference call is being recorded.

I would now like to turn the call over to Ryan Nuckols, Vice President of Investor Relations and Corporate Strategy. Please go ahead.

Ryan Nuckols

Thank you, and welcome to Hyatt's Second Quarter 2026 Earnings Conference Call. Joining me on today's call are Mark Hoplamazian, Hyatt's Chairman, President and Chief Executive Officer; and Joan Bottarini, Hyatt's Chief Financial Officer.

Before we start, I'd like to remind everyone that our comments today will include forward-looking statements under federal securities laws. These statements are subject to numerous risks and uncertainties as described in our annual report on Form 10-K, quarterly reports on Form 10-Q and other SEC filings. These risks could cause our actual results to be materially different from those expressed in or implied by our comments. Forward-looking statements in the earnings release that we issued today, along with the comments on this call, are made only as of today and will not be updated as actual events unfold.

In addition, you

Key Takeaways DGX is using broad testing demand, advanced diagnostics and partnerships to support 2026 growth. Physician revenues rose high single digits, while hospital revenues grew in the second quarter. DGX targets annual cost savings as AI, automation and Project Nova address labor and reimbursement woes. Quest Diagnostics Incorporated (DGX - Free Report) is combining broad testing demand, wider payer access, advanced diagnostics and partnership-led expansion to support revenue growth in 2026.

For investors, the key question is whether these drivers can keep lifting revenues while automation, artificial intelligence and cost programs protect profitability against reimbursement, integration and spending pressures.

Quest Diagnostics Builds on Broad-Based DemandQuest Diagnostics’ base business continues to benefit from physicians, hospitals and consumers. In the second quarter of 2026, physician-channel revenues increased in the high-single-digit range, supported by new customer wins, higher business from existing customers, acquisitions and growth in regions with expanded health plan access.

Hospital-channel revenues grew at a double-digit rate, mainly from Co-Lab Solutions with Corewell Health. QuestHealth.com also generated revenue growth, helped by demand for wellness panels, newer thyroid testing services and technology integrations with consumer, wearable and wellness partners.

In the past year, DGX shares have gained 39.4% compared with the industry’s 33.5% growth.

Image Source: Zacks Investment Research

Labcorp Holdings Inc. (LH - Free Report) remains a relevant comparison point because it competes in laboratory services and broader diagnostics. Quest’s growth signals therefore matter not only for DGX holders but also for investors tracking how scale and access affect the testing market.

DGX Expands Advanced Diagnostics Across Key AreasAdvanced Diagnostics remains one of Quest’s clearer growth engines. The company is expanding across cardiometabolic and endocrine health, autoimmune disorders, brain health, oncology, and women’s and reproductive health, with several targeted areas delivering double-digit revenue growth in the second quarter of 2026.

Demand remained elevated for ApoB, Lp(a) and liver fibrosis tests. The AD-Detect brain-health portfolio again delivered double-digit growth, while New York State approval of Haystack MRD enabled commercial expansion across all 50 states.

Quest Diagnostics Uses Deals to Extend ReachQuest continues to use acquisitions and joint ventures to expand geographic reach, health plan access and specialized testing capabilities. The company targets 1%-2% annual revenue growth from acquisitions, with an emphasis on hospital outreach assets and independent laboratories.

The Corewell Health laboratory venture is a central example. Formed in January 2026, the Michigan joint venture is owned 51% by Quest and 49% by Corewell, is expected to contribute about $250 million to 2026 revenues and is scheduled to launch a new joint venture laboratory in early 2027.

DaVita Inc. (DVA - Free Report) is another healthcare-services peer tied to the broader kidney-care ecosystem. Quest’s acquired Fresenius Medical Care testing assets and kidney-care collaboration underscore how lab services can deepen ties with providers serving chronic disease populations.

DGX Targets Efficiency Through AI and AutomationQuest’s Invigorate program now targets 3% annual cost savings and productivity improvements. The effort is designed to offset labor, benefit and reimbursement pressures while improving service quality across laboratory and administrative workflows.

The company expanded AI-enabled cervical cancer screening and front-end specimen-processing automation to additional laboratories in the second quarter. It also launched IntelliDraw for specimen collection at physician offices and plans an AI-based supply tool at patient service centers, while Project Nova remains a multiyear order-to-cash transformation with the first implementation wave planned for fall 2027.

In the past 30 days, estimates for Quest Diagnostics’ 2026 earnings have moved north by 3.7%. 

Image Source: Zacks Investment Research

Quest Diagnostics Signals Support a Balanced ViewThe bottom line is that Quest has several visible growth drivers, but the case is not one-sided. Broad demand, advanced diagnostics and partnerships support revenues, while elevated debt, reimbursement uncertainty, cost inflation and margin execution remain important risks.

DGX currently carries a Zacks Rank #2 (Buy), supported by favorable estimate-revision trends. The stock also has a Momentum Score of A, Value Score of B, Growth Score of B and VGM Score of A, a combination that points to favorable short-term characteristics across price action, valuation and growth.

The Style Scores are designed to complement the Zacks Rank, not replace it. For DGX, the Rank and scores support a constructive near-term view, while the longer-term outlook remains more balanced because execution around Project Nova, partnership margins and reimbursement pressure still matters.

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

Key Takeaways Charles River will report Q2 results on Aug. 5, with revenues and EPS expected to decline from last year.CRL expects pressure in RMS, DSA and Manufacturing Solutions amid softer demand and divestitures.CRL has a positive Earnings ESP. It beat estimates in each of the last four reported quarters. Charles River Laboratories International, Inc. (CRL - Free Report) is scheduled to report second-quarter 2026 results on Aug. 5, before market open.

In the last reported quarter, the company’s adjusted earnings per share (EPS) of $2.06 surpassed the Zacks Consensus Estimate by 5.1%. Charles River beat estimates in each of the trailing four quarters, delivering an average earnings surprise of 9.31%.

Q2 Estimates for CRLThe Zacks Consensus Estimate for the company’s second-quarter revenues is pegged at $970.8 million, suggesting a 5.9% decline from the year-ago reported figure.

The Zacks Consensus Estimate for EPS projects a decrease of 12.8% year over year to $2.72. The estimate has dropped 1.1% in the past 30 days.

Let’s briefly review the company’s performance leading up to the announcement.

Trends Likely to Shape CRL’s Q2 ResultsResearch Models and Services (“RMS”)In the second quarter of 2026, the segment likely faced pressure from lower sales of small models and research model services. The first-quarter headwind from the timing of NHP shipments, affecting large model revenues, is expected to have eased, consistent with management’s expectations. Meanwhile, lower volumes in North America may have continued to weigh on small model revenues, as in-house research activity among large pharma and midsized biotech clients is yet to fully recover. 

In addition, subdued demand from early-stage biotech clients likely kept occupancy levels at Charles River Accelerator and Development Lab (CRADL) constrained, weighing on RMS revenue growth.

On the positive side, demand for small models in China from mid-tier biotech and CRO clients likely remained solid. During the quarter, Charles River launched an enhanced In Vitro Fertility (IVF) service bundle to accelerate rat-model programs across therapeutic areas, including oncology, neurology, cardiology, and metabolic. The offering provides researchers with a new avenue to advance drug development research and help bring treatments to patients faster.

Our model estimates that Charles River’s RMS business revenues will decrease 5.5% in the second quarter of 2026.

Discovery and Safety Assessment (“DSA”)For the past several quarters, Charles River has been navigating a challenging demand environment within this segment. Discovery Services revenues are likely to have declined in the second quarter, partly as a result of site consolidation activities.

Earlier this year, the company signed a definitive agreement to divest certain European assets within this business to IQVIA Holdings Inc. for roughly $145 million in cash, subject to customary closing adjustments.  The transaction was expected to close during the second quarter of 2026.

Meanwhile, Safety Assessment services likely continued to generate stable revenues. The acquisition of K.F. Cambodia’s assets earlier this year, now Charles River Cambodia, is expected to have strengthened and secured the company’s NHP supply chain for its Safety Assessment operations.

Management also indicated that the overall DSA demand environment was tracking in line with its expectations, as reflected in a net book-to-bill of 1.04x and a slight sequential increase in backlog at the end of the first quarter. Net bookings remained above the $600 million threshold, supported by continued strength from the small and mid-sized biotech client base.

Demand trends for global biopharmaceutical clients remained moderately below year-over-year levels, while healthy proposal activity in the first quarter signaled continued improvement in bookings momentum. All these trends are expected to have influenced the second-quarter performance as well.

Per our model estimate, Charles River’s DSA business revenues are expected to decline 5.5% year over year.

Manufacturing SolutionsWithin this, the Microbial Solutions business likely delivered another solid performance, aided by the Endosafe and Celsis manufacturing quality control testing platforms. Underlying demand for both Microbial Solutions and Biologics Testing may have remained healthy, with clients continuing to advance their late-stage development and commercial programs.

Further, the segment’s profitability is also expected to have benefited from higher revenues and benefits from ongoing cost-saving efforts.

A key development occurred in May 2026, when the company completed the sale of its contract development and manufacturing products and services (“CDMO”) and Cell Solutions businesses to GI Partners (GI) for future contingent performance-based payments up to $50.0 million, subject to certain customary closing adjustments. The completed divestiture is expected to have reduced Manufacturing Solutions revenues in the second quarter.

Our model estimates segment revenues to decrease 8.2% year over year.

Earnings Whispers for CRL StockPer our proven model, stocks with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold), along with a positive Earnings ESP, have a higher chance of beating estimates, which is the case here:

Earnings ESP: Charles River has an Earnings ESP of +1.43%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: Charles River currently carries a Zacks Rank #2. You can see the complete list of today’s Zacks Rank #1 stocks here.

Other Key MedTech PicksHere are some medical stocks worth considering, as these also have the right combination of elements to post an earnings beat this time:

CVS Health (CVS - Free Report) has an Earnings ESP of +1.42% and a Zacks Rank #2. The company is slated to release second-quarter 2026 results on Aug. 5.

CVS’ earnings surpassed estimates in each of the trailing four quarters, the average surprise being 16.79%. The Zacks Consensus Estimate for the company’s second-quarter EPS indicates an increase of 3.3% from the year-ago quarter’s figure.

Cardinal Health (CAH - Free Report) has an Earnings ESP of +1.24% and a Zacks Rank #2. The company is slated to release fourth-quarter fiscal 2026 results on Aug. 11.

CAH’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 10.27%. The Zacks Consensus Estimate for the company’s fourth-quarter EPS calls for a rise of 16.4% from the year-ago quarter’s figure.

Cencora, Inc. (COR - Free Report) has an Earnings ESP of +1.49% and a Zacks Rank #2. The company is slated to release third-quarter fiscal 2026 results on Aug. 5.

COR’s earnings beat estimates in three of the trailing four quarters and missed on one occasion, the average surprise being 1.59%. The Zacks Consensus Estimate for the company’s third-quarter EPS implies an increase of 9.3% from the year-ago quarter’s figure.

Key Takeaways NVR's second-quarter earnings fell 22.6% as homebuilding revenues missed estimates by 5.2%.NVR trades at 15.9X forward earnings, while its $5,425 price target trails the current stock price.NVR repurchased $989.7 million in shares in first-half 2026 and authorized another $750 million. NVR, Inc. (NVR - Free Report) has pulled back, but a lower share price alone does not make the stock clearly attractive. Investors have to weigh a high-quality operating model against declining earnings, lower revenues and a valuation that still looks full versus homebuilding peers.

The case now rests on balance. NVR’s asset-light lot strategy and buybacks support long-term per-share value, while weaker profitability and a price target below the current market price argue for restraint.

NVR’s Earnings Miss Resets ExpectationsSecond-quarter 2026 earnings of $83.96 per share fell 22.6% year over year and missed the Zacks Consensus Estimate by 11.5%. Homebuilding revenues of $2.28 billion also came in below the consensus mark by 5.2%.

The miss reflected lower settlements, softer pricing and margin pressure. Full-year earnings are projected to decline 14.8%, keeping expectations under pressure even though net new orders rose and backlog expanded.

NVR’s Valuation Leaves Limited CushionNVR trades at about 15.9X forward 12-month earnings, above the homebuilding sub-industry’s 11.1X multiple and slightly ahead of its five-year median of 15.1X. That premium leaves less room for disappointment when earnings estimates are moving lower.

The stock price of $6,381.79 also sits above the $5,425 price target, which reflects 13.55X forward earnings. KB HOME (KBH - Free Report) gives investors another homebuilder to compare when assessing whether affordability pressure is already reflected in valuations across the group. Toll Brothers, Inc. (TOL - Free Report) , with its luxury-home positioning, offers a different demand profile within the same cyclical industry.

NVR’s Asset-Light Model Supports QualityNVR’s biggest structural strength is its lot strategy. The company generally buys finished lots from third-party developers rather than tying up large amounts of capital in raw land development.

That approach limits exposure to entitlement delays, infrastructure spending and long-duration land risk. NVR controlled 184,400 lots at the end of the second quarter, giving it future supply without abandoning a model built around capital flexibility.

NVR’s Buybacks Strengthen Per-Share ValueCapital returns remain central to NVR’s investment case. The company repurchased 144,896 shares for $989.7 million during the first half of 2026, including 54,716 shares for $357.8 million in the second quarter.

The board also authorized an additional $750 million repurchase program with no expiration date. The offset is that homebuilding cash declined to $1.09 billion from $1.88 billion at year-end 2025 as inventory, contract land deposits and buybacks absorbed capital.

NVR’s Scores Favor Patience Over AggressionThe bottom line is that NVR’s operating discipline still deserves respect, but the stock does not offer a clean bargain after the earnings and revenue miss. Premium valuation, declining profit expectations and a price target below the market price make the risk-reward balance less favorable.

NVR currently carries a Zacks Rank #3 (Hold). That rank does not point to a strong near-term buying opportunity, especially with the current-year earnings outlook still under pressure. You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here.

The Style Scores are mixed. NVR has a VGM Score of B and Momentum Score of B, which provide some support for investors who focus on broader style characteristics and price trends.

However, the Value Score of C and Growth Score of C reinforce the need for patience. Investors may find NVR’s capital efficiency and buybacks attractive, but the stock’s valuation and earnings trajectory suggest a measured stance rather than an aggressive entry point.

Utilities are extending the lives of existing nuclear reactors. Big tech is exploring nuclear power to supply AI data centers, and Washington is investing billions to rebuild America's nuclear fuel supply chain.

Indeed, the nuclear energy industry is showing strength in 2026, and that puts Centrus Energy (LEU +10.20%) in an enviable position.

Centrus enriches uranium into nuclear fuel. It's also currently the only U.S. company licensed to produce high-assay low-enriched uranium (HALEU), the advanced fuel expected to power many of the next generation of small modular reactors. That advantage is showing up in the numbers.

Image source: Getty Images.

At the end of first-quarter 2026, Centrus boasted a record $3.9 billion backlog stretching through 2040. Roughly $3.1 billion of that comes from its low-enriched uranium business.

The company's balance sheet is solid, too. Centrus ended Q1 with approximately $1.8 billion in cash, cash equivalents, and restricted cash, while generating $76.7 million in revenue and $10 million in GAAP net income. Although quarterly earnings can fluctuate based on the timing of fuel deliveries and contract mix, the company continues to generate profits while investing heavily to expand its uranium enrichment capacity.

Today's Change

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10.20

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16.28

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$

175.97

Then there's the government support.

Earlier this year, the U.S. Department of Energy awarded Centrus a contract worth up to $900 million to help establish a domestic HALEU supply chain. That's not a trivial deal, as the United States has spent decades relying on Russian enrichment services. As geopolitical tensions have increased, securing a domestic source of nuclear fuel has become both an energy and national security priority.

Of course, this isn't a stock without risk. Most of the advanced reactors that will ultimately consume HALEU are still under development, meaning demand will build over time rather than overnight. Still, if nuclear power continues moving back into the mainstream, Centrus looks like a nuclear energy stock that should not be ignored.

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

Laureate Education, Inc. (LAUR) Q2 2026 Earnings Call July 30, 2026 8:30 AM EDT

Company Participants

Adam Morse - Senior VP of Corporate Finance
Eilif Serck-Hanssen - President, CEO & Director
Richard Buskirk - Senior VP & CFO

Conference Call Participants

Jeffrey Silber - BMO Capital Markets Equity Research
Marcelo Santos - JPMorgan Chase & Co, Research Division
Alexander Paris - Barrington Research Associates, Inc., Research Division
Mauricio Cepeda - Morgan Stanley, Research Division

Presentation

Operator

Good day, and thank you for standing by. Welcome to Laureate Education's Second Quarter 2026 Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your first speaker today, Adam Morse, Senior Vice President of Finance. Please go ahead.

Adam Morse
Senior VP of Corporate Finance

Good morning, and thank you for joining us on today's call to discuss Laureate Education's Second Quarter 2026 results. Joining me on the call today are Eilif Serck-Hanssen, President and Chief Executive Officer; and Rick Buskirk, Chief Financial Officer. Our earnings press release is available on the Investor Relations section of our website at laureate.net. We have also posted a supplementary presentation to the website, which we will be referring to during today's call. The call is being webcast and a complete recording will be available after the call.

I would like to remind you that some of the information we are providing today, including, but not limited to, our financial and operational guidance, constitutes forward-looking statements within the meaning of applicable U.S. securities laws. Forward-looking statements are subject to risks and uncertainties that may change at any time, and therefore, our actual results may differ materially from those we expected. Important factors that could cause actual results to differ materially from our expectations are disclosed in our annual report on Form 10-K filed with the

By PYMNTS  |  July 30, 2026

 | 

Amazon’s decision this week to scale back parts of its homegrown artificial intelligence portfolio has been taken by the marketplace as a retreat from the frontier-model competition.

That’s only partly true. Amazon appears to be abandoning the most expensive and least defensible layer of the AI stack in order to strengthen the businesses where it already enjoys structural advantages: cloud computing, retail operations, advertising and logistics.

In other words, Amazon may be giving up on winning the AI popularity contest in favor of winning the AI economy. The tech and retail giant is scaling back development of several products within its Nova family, including its Premier and Omni models as well as Reel and Canvas. Some have reportedly shifted into maintenance mode, while engineering resources are being redirected toward a smaller number of advanced initiatives.

On the surface, the moves resemble a retreat. Viewed through a business lens, however, they look more like capital discipline. It also raises the stakes in Amazon’s competition with Walmart, which is applying AI to shopping, supply chains and employee productivity without attempting to compete directly in the frontier-model race.

See more: Amazon and Walmart Face a New Gatekeeper for Loyalty 

Retailers Get Specific About the AI They Need for Their Operations Amazon does not need to build the world’s most celebrated AI model to become one of the biggest economic winners from AI. It needs companies to rent its computing infrastructure, deploy models through AWS and use artificial intelligence to buy more ads, move more inventory and lower the cost of fulfilling orders.

Amazon is restructuring its artificial intelligence operation, scaling back several homegrown models and concentrating resources on a smaller number of advanced projects. The shift comes as Amazon prepares to spend heavily on AI infrastructure while trying to turn the technology into practical advantages across its cloud, advertising, logistics and retail businesses.

Whether an enterprise chooses Anthropic, Meta, Amazon or another provider, AWS benefits when customers consume more compute. Amazon Bedrock becomes more valuable as organizations seek a single environment to deploy, govern and switch among multiple models.

Amazon’s strategic rival is not only OpenAI or Google. It is Walmart.

See also: Amazon and Walmart’s Summer Sale Wars Deliver a Win (With An Asterisk) 

Walmart is applying AI to product search, supply chains, employee productivity and store operations without making a major bid to become a frontier-model leader. That contrast matters because it points toward the next phase of retail AI competition.

Amazon and Walmart are unlikely to win based on which company trains the most impressive general-purpose model. They will win based on which company can connect increasingly available intelligence to proprietary commercial systems.

For Amazon, those systems include fulfillment centers, marketplace sellers, advertising inventory, Prime relationships and AWS. For Walmart, they include stores, local inventory, supplier relationships, employee workflows and purchase data.

The competitive advantage is shifting from model ownership to operational context.

Consumers now use mobile devices for 53% of purchases, but according to new data from PYMNTS Intelligence and Visa Acceptance Solutions, the bigger shift is happening before checkout. The report, “Global Digital Shopping Index: The AI-Powered Shopper Has Arrived,” revealed the ways in which the smartphone has become an in-store force. Shoppers now use their phones to discover products, compare prices, read reviews, check inventory, access loyalty offers and pay in stores.

T1 Energy shares are climbing with conviction. Why are TE shares rallying? T1 Energy’s Q2 2026 Results Boost SharesThe company this week posted preliminary second-quarter 2026 results that point to sales of about $245 million-$255 million (above a $193.5 million consensus) and a net loss from continuing operations of roughly $34 million-$37 million, alongside an acquisition of solar patents and related assets.

T1 Energy also guided to adjusted EBITDA of -$14.5 million to -$11.5 million, excluding about $24.4 million in tariff refunds tied to the International Emergency Economic Powers Act. It sold its remaining 2025 Section 45X tax credits for $39.1 million at 93 cents per dollar and said it has started discussions to monetize 2026 tax credits.

It also raised Phase 1 capex guidance to $510 million from $425 million due to higher labor and material costs, pushing first solar cell production to the first quarter of 2027.

How Microsoft Earnings and AI Spending Are Boosting TE SharesBeyond company-specific updates, T1 Energy is benefiting from broader market momentum driven by Microsoft’s strong quarterly earnings. Microsoft reaffirmed massive capital expenditure commitments toward AI infrastructure and data center expansion.

On Microsoft’s earnings call, CFO Amy Hood revealed that fourth-quarter capex hit $41 billion, with two-thirds spent on CPUs and GPUs. She added that first-quarter capex is expected to surpass $50 billion.

This AI hardware expansion is directly linked to an unprecedented demand for electricity, power grid interconnects and clean energy generation. T1 Energy’s strategy, which spans utility-scale TOPCon solar module manufacturing, battery storage solutions through KORE Power and AI data center power nodes, positions the company as an enabler of hyperscaler infrastructure.

Microsoft’s aggressive spending outlook provides investors with confirmation that demand for reliable, domestic renewable energy supply chains will remain high.

TE Stock Price Activity UpdateTE Stock Price Activity: T1 Energy shares were up 14.52% at $4.26 at the time of publication on Thursday, according to Benzinga Pro data.

Image: Shutterstock

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NVIDIA (NASDAQ:NVDA | NVDA Price Prediction) and Advanced Micro Devices (NASDAQ:AMD) both delivered post-earnings updates that reshape the AI chip narrative. NVIDIA posted $81.615 billion in Q1 FY2027 revenue, while AMD followed with $10.253 billion. One is the infrastructure utility. The other is finally the credible second source hyperscalers actually deploy at scale.

Data Center Carries Both. Only One Prints Utility Margins. NVIDIA’s Data Center segment reached $75.246 billion, up 92% YoY, with networking exploding 199% as InfiniBand, NVLink, and Spectrum-X locked customers into the full rack. Jensen Huang called the buildout “the largest infrastructure expansion in human history”, and the 75.0% non-GAAP gross margin backs that framing.

AMD’s Data Center revenue hit $5.775 billion, up 57% YoY, and became the primary earnings driver. Lisa Su told investors “customer forecasts exceeding our initial expectations” around MI450 and Helios. EPYC server revenue grew more than 50% year-over-year, its fourth straight record quarter. Gross margin sits at 55%, respectable but a full turn behind NVIDIA.

Driver NVIDIA AMD Data Center growth +92% YoY +57% YoY Non-GAAP gross margin 75.0% 55% Free cash flow $48.554B $2.566B Infrastructure Utility vs. Merchant Second Source NVIDIA owns the software, networking, and rack architecture. That is why 80%+ chip margins translate into predictable cash flow and support a $80 billion new buyback authorization plus a dividend hike to $0.25 per share.

AMD’s role has genuinely changed. Meta committed to 6 gigawatts of AMD Instinct GPUs including a custom MI450 chip, layered onto the earlier 6 gigawatt OpenAI commitment. Su even flagged a CPU-to-GPU ratio shifting from “1:4 or 1:8 configurations toward something closer to 1:1”, which quietly expands the EPYC opportunity as agentic workloads spread.

The Next Test Is Helios, Rubin, and China AMD’s MI450 volume ramp lands in Q3, with Helios rack-scale competing directly against NVIDIA’s Vera Rubin roadmap. NVIDIA guided Q2 revenue to $91.0 billion, excluding China Data Center compute entirely. AMD guided to roughly $11.2 billion. I will keep an eye on whether Helios deployments actually convert pilots into production, and whether NVIDIA’s networking growth holds once merchant fabrics mature.

Why I Split the Trade Between Them Personally, I lean toward NVIDIA as the core position. Free cash flow of $48.554 billion in a single quarter, a P/E near 32, and analyst buy ratings of 58 support the utility thesis. AMD is the higher-variance sleeve. Its stock is up 131.11% YTD but trades at a P/E of 175, leaving little room for stumbles. If you want durability, NVIDIA. If you want torque on every hyperscaler headline, AMD. I would hesitate to own only one.

Don't wait: the analyst who called NVIDIA in 2010 just revealed his top 10 AI stocks. See the full list FREE now.

Contact [email protected] for any questions or corrections.

Starbucks Today

$106.37 +2.23 (+2.14%)

As of 03:07 PM Eastern

This is a fair market value price provided by Massive. Learn more.

52-Week Range$77.99▼

$109.23Dividend Yield2.33%

P/E Ratio80.59

Price Target$111.65

Starbucks’ NASDAQ: SBUX fiscal Q3 results prove Brian Niccol was the right CEO at the right time. His Back to Starbucks strategy took time to gain traction, but it has, with comps back in growth mode and margins expanding.

The news is exactly what the market needed, affirming the world’s leading coffee chain as the number one "third place" (with home being first and work second) for consumers. In this environment, Starbucks can continue to gain momentum and transfer it to its share price. As it stands, SBUX stock is on track to break out and retest multi-year highs.

Get Starbucks alerts:

Starbucks Outperforms on All Counts: Raises GuidanceStarbucks had a solid quarter despite the impact of its China transaction. The China transaction relieved it of operational control of Chinese-based assets, leaving it free to focus on core markets without the overhang of geopolitical events. The company’s fiscal Q3 revenue declined by 1.4% to $9.32 billion but still outpaced the consensus by over 200 basis points and drove better-than-expected margins.

Internally, revenue strength was underpinned by 175 new stores and a 7.9% global comp-store increase. Global comps were driven by a 4.2% increase in transactions and a 3.5% increase in ticket average, proving Niccol’s efforts to improve traffic and flow through are working. Comps in the U.S., the core market, increased by 8.1% while International markets grew comparable sales by 5.7%.

Margin news was a catalyzing factor for this market. The company improved its operating margins by 430 bps, adjusted for one-offs and repositioning efforts, driving a 70% increase in adjusted earnings per share (EPS), despite the top-line decline. Looking ahead, management expects the comp store strength to continue and lifted guidance accordingly. The company’s new forecast targets full-year global comps in the 6% range with EPS well above analysts' consensus targets and forecasts potentially cautious.

Starbucks Strengthens Balance Sheet in Q3Starbucks' improving position is reflected in the balance sheet. The impact of its China transaction is seen in reduced total assets but offset by increased cash and reduced debt. The net impact is reduced shareholder deficits, deficits linked to aggressive share buybacks in previous years, and improved cash flow. The likely outcome is that Starbucks continues on this track, enabling capital return increases in future quarters and years. Capital returns in 2026 primarily consist of the dividend, which yields about 2.3% as of late July.

The analyst response to the release was bullish, extending the trend. MarktBeat tracked four analyst updates within the first 12 hours of the release, including four price target increases leading to the high-end range. The takeaway is that 31 analysts show high conviction in the Moderate Buy rating, the Buy-side bias is over 60%, and the consensus price target is trending higher, forecasting at least a fresh 18-month high. The high-end range puts this market above $150, sufficient for a fresh all-time high when reached.

Institutional trends align with an outlook for higher share prices. The group owns more than 70% of the stock and has been accumulating in 2026. Although the overal pace of activity has slowed, the balance improved to over $6.50 bought for every $1 sold in early Q3, limiting the downside risk ahead of the release. The likely outcome is that this group continues to underpin support, possibly accelerating activity as Q3 progresses.

Risks Are in Balance While Reward Potential ImprovesStarbucks’ biggest risks are commodity price volatility and competition, but both appear to be under control. While input costs are increasing, operational quality is improving, driving both traffic and volume. In this scenario, Starbucks can continue to gain traction and may accelerate growth to well above forecasts, assuming cost pressures ease.

Current forecasts suggest coffee prices will moderate in Q3 from recent peaks, then hold steady in upcoming quarters, with robust harvests expected. Starbucks ’ biggest competitor is China’s Luckin Coffee, a brand to which exposure has been limited by exiting control of Chinese-based assets.

Valuation is another concern, with the stock trading around 80x earnings. The market is pricing in a robust turnaround, leaving the stock price prone to execution risk, but there is ample meat left on the bone. Forecasts put SBUX at only 10x earnings within eight years, setting the stage for a 100% to 150% stock price increase over time. Starbucks' biggest catalyst this year will be continued execution of Niccol’s strategy. Investors want to see growth resume, margins expand, and comp store strength.

Should You Invest $1,000 in Starbucks Right Now?Before you consider Starbucks, you'll want to hear this.

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Qualcomm Today

$151.13 -4.55 (-2.92%)

As of 03:06 PM Eastern

This is a fair market value price provided by Massive. Learn more.

52-Week Range$121.99▼

$259.92Dividend Yield2.44%

P/E Ratio16.41

Price Target$208.97

Qualcomm Inc NASDAQ: QCOM has spent much of the past few months trying to convince the market that it’s more than just a smartphone chipmaker. Its earnings report, delivered July 29, will have disappointed investors looking for a clear update on whether that transformation is taking hold, as the takeaways were decidedly mixed.

The headline numbers told two stories at once. Revenue for the quarter comfortably beat expectations, driven by the diversification the company has been promising. Yet, earnings came in short, and the guidance for the quarter ahead landed below what Wall Street wanted to see.

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That was enough to send the stock down about 4% in Wednesday's after-hours session.

For anyone following the Qualcomm story, this was always going to be a quarter that mattered more than most. The question now is whether the progress beneath the headlines is sufficient to make this an entry opportunity or whether the near-term headwinds are too strong to overcome.

The Diversification Story Is Finally Showing UpThe single most encouraging takeaway was the performance of the businesses Qualcomm is betting its future on—its Automotive segment. This was the standout from the report, with revenue surging more than 60% year-over-year, prompting management to raise its outlook for the segment yet again. Qualcomm’s Internet of Things (IoT) business grew at a healthy clip, too, helping comfort investors spooked by Qualcomm’s Handset revenue dropping 20%.

This matters in the context of everything the company has been telling Wall Street. As we saw following its Investor Day last month, Qualcomm has staked its future on reducing its dependence on smartphones, and these results are the clearest evidence yet that those plans are working out.

The Data Center Push Comes With a Bigger BillQualcomm’s data center ambitions are another part of the business that bulls have been excited about, and the earnings report showed solid progress. Management confirmed that its first custom silicon shipments for data centers are expected in the current quarter, turning what had been a roadmap promise into a concrete timeline.

Unsurprisingly, none of this came for free, and Qualcomm's capital expenditure (CapEx) has been climbing sharply at the same time. For now, that spending remains modest relative to overall sales, so this is nothing like the eye-watering CapEx numbers being seen elsewhere in the chip world. But it is a trend worth watching, particularly if the data center revenue takes longer to arrive than management hopes.

The Apple Problem Just Got WorseIf there was one clear negative in the report, it was the update on Apple Inc. NASDAQ: AAPL. Qualcomm has long known that Apple is working to replace Qualcomm's modems with its own in-house design. Still, management revealed that this transition is now happening faster than previously expected.

The company's share of the upcoming iPhone launch is expected to be materially lower than the roughly 20% it had been modeling, a meaningful downgrade from the assumptions it held just a quarter ago.

That accelerated loss, combined with what management described as unprecedented memory costs, is the main reason guidance for the quarter ahead disappointed. It’s a stark reminder that even as Qualcomm’s new growth engines fire up, its legacy business still carries real risks.

Where to From Here?That sense of the company being mid-transition probably goes a long way to explaining how volatile Qualcomm stock has been in recent weeks. Pre-earnings, its shares were already down around 40% from May's high, and the lackluster reaction to these results suggests investors aren't ready to call the bottom just yet.

Qualcomm Incorporated (QCOM) Price Chart for Thursday, July, 30, 2026

The tension is easy to see. Qualcomm's beefy Handset revenue keeps falling, while its promising, yet still small, Automotive revenue is still rising. At some point those two lines will intersect, and when they do, the company will finally be free of the big question mark that's hung over it for much of the past year. For now, though, it feels like we're not quite there.

A strong earnings beat would have settled the matter. Without it, the market did what markets tend to do when a story gets more complicated rather than clearer: sell first and ask questions later. The stock fell not because the diversification plan is failing, but because the path to pulling it off just got bumpier.

That, ultimately, is the answer to why a company making real long-term progress still saw its shares slide. The strategy is working, and the destination looks more attractive than it did a year ago. It's just that, for now, the market has decided there’s still too much risk in the near term.

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Key Takeaways Palantir will report Q2 earnings on Aug. 3, with earnings seen rising 118.8% and revenues climbing 80%.Government revenues are projected to rise 65.7%, while Commercial revenues are expected to jump 98%.PLTR trades far above industry valuation multiples despite a 22% share-price decline over the past year. Palantir Technologies Inc. (PLTR - Free Report) will report its second-quarter 2026 results on Aug. 3, after the bell.

The Zacks Consensus Estimate for earnings in the to-be-reported quarter stands at 35 cents, indicating 118.8% growth from the year-ago reported quarter. The consensus estimate for total revenues stands at $1.81 billion, indicating 80% year-over-year growth. There have been no changes or revisions to analyst estimates lately.

                                                                Image Source: Zacks Investment Research

The company has a strong history of earnings surprises. Earnings surpassed the Zacks Consensus Estimate in three of the trailing four quarters and matched it once, with an average earnings surprise of 11.6%.

PLTR’s Lesser Chance of Q2 Earnings BeatOur proven model doesn’t conclusively predict an earnings beat for PLTR 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’s not the case here. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.

PLTR has an Earnings ESP of 0.00% and a Zacks Rank #2.

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

PLTR’s All-Round Healthy Business Should be the Driver in Q2We expect a significant year-over-year improvement in the company’s top line in the to-be-reported quarter, driven by healthy business from existing and new customers, strengthening both the Government and Commercial segments.

The consensus estimate for Government revenues is pegged at $916.2 million, indicating 65.7% year-over-year growth. The consensus mark for Commercial revenues is pegged at $892.1 million, suggesting 98% year-over-year growth.

PLTR Stock Experiencing PullbackPalantir shares have declined 22% over the past year and 15% over the past three months. This performance clearly indicates a pullback in the stock.

                                                              Image Source: Zacks Investment Research

Based on trailing 12-month EV-to-EBITDA, PLTR is currently trading at 162.72X, way above the industry’s 10.66X. If we look at the forward 12-month Price/Earnings ratio, the company’s shares are currently trading at 67.27X forward earnings, well above the industry’s 26.51X.

Investment ConsiderationsPalantir continues to distinguish itself through rapid commercial adoption, expanding customer relationships, improving profitability, and disciplined execution. The company's Artificial Intelligence Platform is gaining traction across enterprises, while larger contracts and a growing customer base provide visibility into sustained long-term growth. At the same time, exceptional operating efficiency demonstrates that Palantir is scaling its business without compromising profitability. So, the recent share-price weakness appears to present a compelling opportunity for long-term investors. Despite near-term valuation concerns, Palantir's strengthening fundamentals support a Buy recommendation for investors seeking exposure to one of the software industry's leading AI growth stories.

Peer ViewPLTR’s competitive strengths are reflected in its financial performance. The company delivered 85% revenue growth in the first quarter of 2026, including an exceptional 133% increase in U.S. commercial revenues, while generating a 60% adjusted operating margin and a 53% GAAP net margin. Even leading AI software companies like Datadog (DDOG - Free Report) and Snowflake (SNOW - Free Report) struggle to match this combination of rapid expansion and profitability.

While DDOG and SNOW continue to benefit from AI demand, their growth rates remain significantly lower. By combining a durable software foundation with industry-specific expertise and superior execution, Palantir continues to separate itself from DDOG, SNOW and traditional enterprise software competitors.

Repatha ist der einzige PCSK9-Hemmer, der in einer klinischen Phase-3-Studie nachweislich das Risiko eines ersten Herzinfarkts und Schlaganfalls signifikant senkt und damit neue Maßstäbe bei der Senkung kardiovaskulärer Risiken setzt.

Die Empfehlung stützt sich auf die bahnbrechende globale Phase-3-Studie „VESALIUS-Cardiovascular" mit mehr als 12.000 Patientinnen und Patienten.

, /PRNewswire/ -- Amgen (NASDAQ: AMGN) gab heute bekannt, dass der Ausschuss für Humanarzneimittel (Committee for Medicinal Products for Human Use, CHMP) der Europäischen Arzneimittelagentur (EMA) eine positive Stellungnahme zu Repatha® (Evolocumab) für Erwachsene mit nachgewiesener oder hohem Risiko einer atherosklerotischen Herz-Kreislauf-Erkrankung zur Senkung des kardiovaskulären Risikos durch Senkung des LDL-C-Spiegels als Ergänzung zur Korrektur anderer Risikofaktoren abgegeben hat. Die Empfehlung stützt sich auf die Ergebnisse der Phase-3-Studie VESALIUS-CV, die gezeigt hat, dass Repatha das Risiko für schwerwiegende unerwünschte kardiovaskuläre Ereignisse (Major Adverse Cardiovascular Events, MACE) bei Erwachsenen mit hohem Risiko, die zuvor weder einen Herzinfarkt noch einen Schlaganfall erlitten hatten, signifikant senkte, wenn es zusätzlich zu Statinen oder anderen LDL-C-senkenden Therapien verabreicht wurde.

„In Europa besteht nach wie vor ein erheblicher ungedeckter Bedarf, da viele Patientinnen und Patienten mit hohem kardiovaskulärem Risiko trotz der verfügbaren lipidsenkenden Therapien nicht in der Lage sind, die empfohlenen LDL-C-Werte zu erreichen", sagte Dr. med. Paul Burton, Ph.D., Chief Medical Officer bei Amgen. „Die positive Stellungnahme des CHMP spiegelt die Aussagekraft der klinischen Daten zu Repatha wider und bringt uns einen Schritt näher, wenn es darum geht, Repatha für mehr Patientinnen und Patienten verfügbar zu machen, die davon profitieren könnten." Repatha ist der einzige PCSK9-Hemmer, der in einer klinischen Phase-3-Studie nachweislich das Risiko eines ersten schwerwiegenden unerwünschten kardiovaskulären Ereignisses senkt. Sollte die Europäische Kommission dieser erweiterten Indikation zustimmen, könnte dies die kardiovaskuläre Versorgung geeigneter Patientinnen und Patienten in Europa grundlegend verändern."

Herz-Kreislauf-Erkrankungen sind weltweit die häufigste Todesursache.1 Aktuelle Forschungsergebnisse zeigen, dass mehr als 99 % der Menschen, bei denen erstmals ein kardiovaskuläres Ereignis auftritt, mindestens einen traditionellen Risikofaktor aufweisen, darunter einen hohen LDL-C-Spiegel, der zu den am besten beeinflussbaren Risikofaktoren für einen Herzinfarkt oder Schlaganfall zählt.2 Während die Leitlinien der Europäischen Gesellschaft für Kardiologie (European Society of Cardiology, ESC) und der Europäischen Gesellschaft für Atherosklerose (European Atherosclerosis Society, EAS) eine intensive Senkung des LDL-Cholesterinspiegels in Abhängigkeit vom kardiovaskulären Risiko empfehlen, liegen viele Hochrisikopatientinnen und -patienten trotz verfügbarer lipidsenkender Therapien weiterhin über den empfohlenen LDL-Cholesterin-Zielwerten.3

Repatha wurde in der Europäischen Union ursprünglich 2015 für die Behandlung von Erwachsenen und Kindern mit primärer Hypercholesterinämie oder gemischter Dyslipidämie sowie zur Senkung des kardiovaskulären Risikos bei Erwachsenen mit nachgewiesener atherosklerotischer kardiovaskulärer Erkrankung (Atherosclerotic Cardiovascular Disease, ASCVD) zugelassen. Es wird erwartet, dass die Europäische Kommission in den kommenden Monaten eine endgültige Entscheidung über den Antrag trifft.

Informationen zur VESALIUS-CV-Studie
VESALIUS-CV ist eine globale klinische Phase-3-Studie, die doppelblind, randomisiert und placebokontrolliert durchgeführt wird und darauf abzielt, den Einfluss einer Senkung des LDL-C-Spiegels durch Evolocumab auf MACE bei Erwachsenen mit hohem kardiovaskulärem Risiko ohne vorangegangenen Herzinfarkt oder Schlaganfall zu untersuchen. Die Ergebnisse wurden im November 2025 im New England Journal of Medicine veröffentlicht. Repatha führte zu einer relativen Risikoreduktion um 25 % für den kombinierten Endpunkt aus Tod durch koronare Herzkrankheit (KHK), Herzinfarkt oder ischämischem Schlaganfall (3-P-MACE) sowie um 19 % für einen erweiterten kombinierten Endpunkt, der zusätzlich jegliche ischämiebedingte arterielle Revaskularisation umfasste (4-P-MACE). Evolocumab senkte zudem das Risiko eines Herzinfarkts um 36 %. Bei allen drei Endpunkten zeigte sich ein konsistenter Vorteil von Evolocumab gegenüber Placebo, einschließlich eines um 36 % verringerten Risikos für einen Herzinfarkt. In einer Lipid-Teilstudie führte die Zugabe von Evolocumab zu einer maximal verträglichen Dosis eines Statins und/oder Ezetimib bei den beobachteten Partientinnen und Patienten zu einer deutlichen Senkung der LDL-C-Werte, wobei der Medianwert bei 45 mg/dl lag, verglichen mit 109 mg/dl in der Placebo-Gruppe.

In die VESALIUS-CV-Studie wurden mehr als 12.000 Patientinnen und Patienten mit bekannter ASCVD oder Hochrisikodiabetes aufgenommen, die keine Herzinfarkte oder Schlaganfälle in der Anamnese aufwiesen, einen LDL-C-Wert von ≥ 90 mg/dl, oder ein Nicht-HDL-Cholesterin (Non-HDL-C) von ≥ 120 mg/dL oder ein Apolipoprotein B von ≥ 80 mg/dL aufwiesen und mit der höchstverträglichen Dosis eines Statins und/oder Ezetimib behandelt wurden. Der Medianwert des LDL-C-Ausgangswerts lag bei lokalen Laboruntersuchungen bei 122 mg/dl (IQR: 104–149 mg/dl). Die Teilnehmenden wurden randomisiert und erhielten zusätzlich zu einer optimierten lipidsenkenden Therapie entweder Evolocumab oder ein Placebo; sie wurden über einen Median von etwa 4,6 Jahren nachbeobachtet.

Amgens Engagement für Innovationen im Bereich Herz-Kreislauf-Erkrankungen
Amgen definiert die kardiometabolische Versorgung neu – mit modernster, auf der Humanbiologie basierender Forschung, die sich mit eng miteinander verbundenen Herz-Kreislauf- und Stoffwechselerkrankungen befasst, die zu schwerwiegenden Folgen oder zum Tod führen können.

Kardiometabolische Erkrankungen treten häufig gemeinsam auf und können zu schwerwiegenden Folgen oder zum Tod führen, obwohl sie behandelbar sind.4 Trotz Fortschritten bei lipidsenkenden und metabolischen Therapien bleibt ein erhebliches kardiovaskuläres Restrisiko bestehen, das durch einen anhaltend erhöhten LDL-C-Spiegel, genetisch bedingtes Lp(a) und eine durch Adipositas bedingte kardiometabolische Dysfunktion verursacht wird.5

Auf der Grundlage von mehr als 40 Jahren Spitzenforschung und Humangenetik definiert Amgen die kardiometabolische Versorgung und das Risikomanagement neu. Nach jahrelangen Erfolgen bei Herz-Kreislauf-Erkrankungen mit Repatha ist Amgen gut aufgestellt, um potenziell bahnbrechende Medikamente wie MariTide und Olpasiran auf den Markt zu bringen, die dazu beitragen, die Bedürfnisse der Patientinnen und Patienten in der kardiometabolischen Versorgung zu erfüllen und die vielfältigen, miteinander verknüpften Ursachen von Herz-Kreislauf- und Stoffwechselerkrankungen anzugehen.

Informationen zu Repatha
Repatha ist ein humaner monoklonaler Antikörper, der die Proprotein-Convertase Subtilisin/Kexin Typ 9 (PCSK9) hemmt. Repatha bindet an PCSK9 und verhindert, dass zirkulierendes PCSK9 an den Low-Density-Lipoprotein (LDL)-Rezeptor (LDLR) bindet. Dadurch wird der durch PCSK9 vermittelte Abbau des LDLR verhindert und ermöglicht, dass der LDLR wieder an die Oberfläche der Leberzellen zurückgeführt wird. Durch die Hemmung der Bindung von PCSK9 an den LDLR erhöht Repatha die Anzahl der verfügbaren LDLR, die LDL aus dem Blut entfernen können, und senkt dadurch den LDL-C-Spiegel.

Repatha ist einer der am umfassendsten untersuchten PCSK9-Hemmer, für den klinische und praxisbezogene Erkenntnisse aus verschiedenen Patientengruppen und mit unterschiedlichen kardiovaskulären Risikoprofilen vorliegen.6 Der klinische Nutzen und die Sicherheit von Repatha wurden über einen Zeitraum von 15 Jahren in 51 klinischen Studien mit über 57.000 Patientinnen und Patienten untersucht.7 Repatha ist der einzige PCSK9-Hemmer, der sowohl in der Hochrisiko-Primär- als auch in der Sekundärprävention eine signifikante Reduktion kardiovaskulärer Ereignisse nachweisen konnte, wobei die Patientinnen und Patienten mit nur einmal alle zwei Wochen verabreichtem Repatha eine drastische Senkung des LDL-C-Spiegels erreichten und aufrechterhalten konnten.8,9

Repatha wurde erstmals 2015 zugelassen und wurde seitdem weltweit bei mehr als 10 Millionen Patientinnen und Patienten angewendet.10  Im August 2025 erweiterte die US-amerikanische Arzneimittelbehörde (U.S. Food and Drug Administration, FDA) den zugelassenen Anwendungsbereich von Repatha auf Erwachsene mit erhöhtem Risiko für schwerwiegende unerwünschte kardiovaskuläre Ereignisse aufgrund eines unkontrollierten LDL-C-Spiegels. Repatha ist in 74 Ländern zugelassen, darunter in den USA, in Japan, in Kanada, in Australien sowie in allen 28 Mitgliedstaaten der Europäischen Union.11 In weiteren Ländern sind Zulassungsanträge anhängig.

Wichtige Produktinformationen für die EU

In Europa ist Repatha für folgende Anwendungsgebiete zugelassen:

Hypercholesterinämie und gemischte Dyslipidämie
Repatha ist bei Erwachsenen mit primärer Hypercholesterinämie (heterozygot, familiär und nicht familiär) oder gemischter Dyslipidämie als Ergänzung zu einer Diät indiziert:

in Kombination mit einem Statin oder einem Statin und anderen lipidsenkenden Therapien bei Patientinneb und Patienten, welche die LDL-C-Zielwerte mit der maximal verträglichen Dosis eines Statins nicht erreichen können, oder allein oder in Kombination mit anderen lipidsenkenden Therapien bei Patientinnen und Patienten, die Statine nicht vertragen oder bei denen die Einnahme eines Statins kontraindiziert ist. Homozygote familiäre Hypercholesterinämie
Repatha ist bei Erwachsenen und Jugendlichen ab zwölf Jahren mit homozygoter familiärer Hypercholesterinämie in Kombination mit anderen lipidsenkenden Therapien indiziert.

Atherosklerotische Herz-Kreislauf-ErkrankungenRepatha ist bei Erwachsenen mit nachgewiesener atherosklerotischer Herz-Kreislauf-Erkrankung oder mit hohem Risiko dafür indiziert, um das kardiovaskuläre Risiko durch Senkung der LDL-C-Werte zu verringern, und zwar als Ergänzung zur Korrektur anderer Risikofaktoren:

in Kombination mit der maximal verträglichen Dosis eines Statins, mit oder ohne weitere lipidsenkende Therapien, oder allein oder in Kombination mit anderen lipidsenkenden Therapien bei Patientinnen und Patienten, die Statine nicht vertragen oder bei denen die Einnahme eines Statins kontraindiziert ist. Dosierung
Primäre Hypercholesterinämie und gemischte Dyslipidämie bei Erwachsenen

Die empfohlene Dosis von Repatha beträgt entweder 140 mg alle zwei Wochen oder 420 mg einmal monatlich; beide Dosierungen sind klinisch gleichwertig.

Homozygote familiäre Hypercholesterinämie bei Erwachsenen und Jugendlichen ab zwölf Jahren

Die empfohlene Anfangsdosis beträgt 420 mg einmal monatlich. Nach zwölf Wochen Behandlung kann die Dosierungshäufigkeit auf 420 mg einmal alle zwei Wochen erhöht werden, falls kein klinisch relevantes Ansprechen erzielt wird. Patientinnen und Patienten, die sich einer Apherese unterziehen, können die Behandlung mit 420 mg alle zwei Wochen beginnen, um sie an ihren Apherese-Zeitplan anzupassen.

Wichtige Sicherheitshinweise
Dieses Arzneimittel unterliegt einer zusätzlichen Überwachung. Auf diese Weise lassen sich schnell neue Sicherheitsinformationen ermitteln. Medizinisches Fachpersonal wird gebeten, alle vermuteten Nebenwirkungen zu melden.

Kontraindikationen: Überempfindlichkeit gegen den Wirkstoff oder einen der sonstigen Bestandteile.

Besondere Warnhinweise und Vorsichtsmaßnahmen: Nierenfunktionsstörung: Patientinnen und Patienten mit schwerer Nierenfunktionsstörung (definiert als eGFR < 30 ml/min/1,73 m2) wurden nicht untersucht. Repatha sollte bei Patientinnen und Patienten mit schwerer Nierenfunktionsstörung mit Vorsicht angewendet werden. Leberfunktionsstörung: Bei Patientinnen und Patienten mit mäßiger Leberfunktionsstörung wurde eine Verringerung der Gesamtexposition gegenüber Evolocumab beobachtet, was zu einer geringeren Wirkung im Hinblick auf die Senkung des LDL-C führen kann. Daher kann bei diesen Patientinnen und Patienten eine engmaschige Überwachung erforderlich sein. Patientinnen und Patienten mit schwerer Leberfunktionsstörung (Child-Pugh-Klasse C) wurden nicht untersucht. Repatha sollte bei Patientinnen und Patienten mit schwerer Leberfunktionsstörung mit Vorsicht angewendet werden. Trockener Naturkautschuk: Die Nadelabdeckung der vorgefüllten Glasspritze und des vorgefüllten Pens besteht aus trockenem Naturkautschuk (einem Latexderivat), der allergische Reaktionen hervorrufen kann. Natriumgehalt: Repatha enthält weniger als 1 mmol Natrium (23 mg) pro Dosis, d. h., es ist im Wesentlichen „natriumfrei".

Wechselwirkungen: Für Repatha wurden keine formellen Studien zu Wechselwirkungen mit anderen Arzneimitteln durchgeführt. Es wurden keine Studien zu pharmakokinetischen und pharmakodynamischen Wechselwirkungen zwischen Repatha und anderen lipidsenkenden Arzneimitteln als Statinen und Ezetimib durchgeführt.

Fruchtbarkeit, Schwangerschaft und Stillzeit: Es liegen keine oder nur begrenzte Daten zur Anwendung von Repatha bei Schwangeren vor. Repatha sollte während der Schwangerschaft nicht angewendet werden, es sei denn, der klinische Zustand der Frau erfordert eine Behandlung mit Evolocumab. Es ist nicht bekannt, ob Evolocumab in die Muttermilch übergeht. Ein Risiko für gestillte Neugeborene/Säuglinge kann nicht ausgeschlossen werden. Es liegen keine Daten zu den Auswirkungen von Evolocumab auf die Fruchtbarkeit beim Menschen vor.  

Nebenwirkungen: In zulassungsrelevanten, kontrollierten klinischen Studien wurden die folgenden häufigen (> 1/100 bis < 1/10) Nebenwirkungen berichtet: Grippe, Nasopharyngitis, Infektion der oberen Atemwege, Hautausschlag, Übelkeit, Rückenschmerzen, Gelenkschmerzen, Reaktionen an der Injektionsstelle. Eine vollständige Beschreibung der Nebenwirkungen finden Sie in der  Fachinformation .

Vorsichtsmaßnahmen bei der Einnahme von Arzneimitteln: Im Kühlschrank lagern (2 °C – 8 °C). Nicht einfrieren. Bewahren Sie die Fertigspritze oder den Fertigpen in der Originalverpackung auf, um sie vor Lichteinwirkung zu schützen. Nach Entnahme aus dem Kühlschrank kann Repatha bei Raumtemperatur (bis zu 25 °C) in der Originalverpackung aufbewahrt werden und muss innerhalb eines Monats aufgebraucht werden.

INDIKATIONEN IN DEN USA
Repatha® ist ein PCSK9-Hemmer (Proprotein-Convertase-Subtilisin/Kexin Typ 9), der für folgende Indikationen zugelassen ist:

Zur Senkung des Risikos schwerwiegender unerwünschter kardiovaskulärer Ereignisse (kardiovaskulärer Tod, Myokardinfarkt, Schlaganfall, instabile Angina pectoris, die einen Krankenhausaufenthalt erfordert, oder koronare Revaskularisation) bei Erwachsenen mit erhöhtem Risiko für diese Ereignisse. Als Ergänzung zu einer Diät und körperlicher Bewegung zur Senkung des LDL-Cholesterins (LDL-C) bei: Erwachsenen mit Hypercholesterinämie. Erwachsenen und pädiatrischen Patientinnen und Patienten ab zehn Jahren mit heterozygoter familiärer Hypercholesterinämie (HeFH). Erwachsenen und pädiatrischen Patientinnen und Patienten ab zehn Jahren mit homozygoter familiärer Hypercholesterinämie (HoFH). Die Sicherheit und Wirksamkeit von Repatha® bei Kindern mit HeFH oder HoFH unter zehn Jahren sowie bei Kindern mit anderen Formen der Hypercholesterinämie wurden nicht nachgewiesen. Die vollständigen Verschreibungsinformationen finden Sie auf www.Repatha.com.

 WICHTIGE SICHERHEITSINFORMATIONEN

Kontraindikation: Repatha® ist bei Patientinnen und Patienten kontraindiziert, bei denen in der Vergangenheit eine schwere Überempfindlichkeitsreaktion auf Evolocumab oder einen der Hilfsstoffe in Repatha® aufgetreten ist. Bei Patientinnen und Patienten, die mit Repatha® behandelt wurden, sind schwere Überempfindlichkeitsreaktionen einschließlich Angioödemen aufgetreten. Überempfindlichkeitsreaktionen: Bei Patientinnen und Patienten, die mit Repatha® behandelt wurden, wurden Überempfindlichkeitsreaktionen, einschließlich Angioödemen, berichtet. Sollten Anzeichen oder Symptome schwerwiegender Überempfindlichkeitsreaktionen auftreten, ist die Behandlung mit Repatha® abzubrechen, die Patientinnen und Patienten gemäß den geltenden Behandlungsstandards zu behandeln und sie so lange zu überwachen, bis die Anzeichen und Symptome abgeklungen sind. Nebenwirkungen bei Erwachsenen mit primärer Hypercholesterinämie: Die häufigsten Nebenwirkungen (> 5 % der mit Repatha® behandelten Patientinnen und Patienten und häufiger als unter Placebo) waren: Nasopharyngitis, Infektion der oberen Atemwege, Grippe, Rückenschmerzen und Reaktionen an der Injektionsstelle.Aus einer Zusammenfassung der 52-wöchigen Studie und sieben 12-wöchigen Studien: Lokale Reaktionen an der Injektionsstelle traten bei 3,2 % der mit Repatha® behandelten Patientinnen und Patienten und bei 3,0 % der mit Placebo behandelten Patientinnen und Patienten auf. Die häufigsten Reaktionen an der Injektionsstelle waren Hautrötungen, Schmerzen und Blutergüsse. Überempfindlichkeitsreaktionen traten bei 5,1 % der mit Repatha®behandelten Patientinnen und Patienten und bei 4,7 % der mit Placebo behandelten Patientinnen und Patienten auf. Die häufigsten Überempfindlichkeitsreaktionen waren Hautausschlag (1,0 % gegenüber 0,5 % bei Repatha® bzw. Placebo), Ekzem (0,4 % gegenüber 0,2 %), Erytheme (0,4 % gegenüber 0,2 %) sowie Urtikaria (0,4 % gegenüber 0,1 %).

Unerwünschte Wirkungen in der FOURIER-Studie zu kardiovaskulären Endpunkten: Die häufigsten Nebenwirkungen (> 5 % der mit Repatha® behandelten Patientinnen und Patienten und häufiger als unter Placebo) waren: Diabetes mellitus (8,8 % Repatha®, 8,2 % Placebo), Nasopharyngitis (7,8 % Repatha®, 7,4 % Placebo) sowie Infektionen der oberen Atemwege (5,1 % Repatha®, 4,8 % Placebo).Unter den 16.676 Patientinnen und Patienten, die zu Studienbeginn keinen Diabetes mellitus hatten, betrug die Inzidenz eines neu auftretenden Diabetes mellitus während der Studie bei den mit Repatha® behandelten Patientinnen und Patienten 8,1 %, verglichen mit 7,7 % bei den Patientinnen und Patienten, die ein Placebo erhielten.

Nebenwirkungen bei pädiatrischen Patientinnen und Patienten mit HeFH: Die häufigsten Nebenwirkungen (> 5 % der mit Repatha® behandelten Patientinnen und Patienten und häufiger als unter Placebo) waren: Nasopharyngitis, Kopfschmerzen, Schmerzen im Mund- und Rachenraum, Grippe und Infektion der oberen Atemwege. Nebenwirkungen bei Erwachsenen und Kindern mit HoFH: In einer 12-wöchigen Studie mit 49 Patientinnen und Patienten traten bei mindestens zwei mit Repatha® behandelten Patientinnen und Patienten folgende Nebenwirkungen auf, die häufiger auftraten als unter Placebo: Infektionen der oberen Atemwege, Grippe, Gastroenteritis und Nasopharyngitis. In einer offenen Verlängerungsstudie mit 106 Patientinnen und Patienten, darunter 14 Kinder, wurden keine neuen Nebenwirkungen beobachtet. Immunogenität: Repatha® ist ein humaner monoklonaler Antikörper. Wie bei allen therapeutischen Proteinen besteht auch bei Repatha® das Potenzial für Immunogenität. Die vollständigen Verschreibungsinformationen finden Sie hier.

Informationen zu Amgen
Amgen erforscht, entwickelt, produziert und liefert innovative Medikamente zur Bekämpfung einiger der schwersten Krankheiten der Welt. Amgen nutzt das Beste aus Biologie und Technologie und erreicht mit seinen Medikamenten Millionen von Patienten.

Vor mehr als 45 Jahren trug Amgen an seinem US-Hauptsitz in Thousand Oaks, Kalifornien, zur Gründung der Biotechnologiebranche bei und ist nach wie vor führend in der Innovation, indem es Technologien sowie humangenetische Daten nutzt, um über das heute Bekannte hinauszugehen. Amgen entwickelt eine breite und tiefe Pipeline und ein Portfolio von Medikamenten zur Behandlung von Krebs, Herzkrankheiten, Entzündungen, seltenen Krankheiten sowie Fettleibigkeit und mit Fettleibigkeit verbundenen Krankheiten.

Amgen wurde  wiederholt  für seine Innovationskraft und seine Unternehmenskultur ausgezeichnet, unter anderem von Fast Company und Forbes. Amgen gehört zu den 30 Unternehmen, die den Dow Jones Industrial Average® bilden, und ist auch Teil des Nasdaq-100-Index®, der die größten und innovativsten nicht-finanziellen Unternehmen umfasst, die an der Nasdaq-Börse nach Marktkapitalisierung notiert sind.

Für weitere Informationen besuchen Sie Amgen.com und folgen Sie Amgen auf X, LinkedIn, Instagram, YouTube, Facebook, TikTok und Threads.

Zukunftsgerichtete Aussagen
Diese Pressemitteilung enthält zukunftsgerichtete Aussagen, die auf den aktuellen Erwartungen und Einschätzungen von Amgen beruhen. Alle Aussagen, mit Ausnahme von Aussagen über historische Tatsachen, sind Aussagen, die als zukunftsgerichtete Aussagen angesehen werden könnten, einschließlich jeglicher Aussagen zu den Ergebnissen, Vorteilen und Synergien von Kooperationen oder potenziellen Kooperationen mit anderen Unternehmen (einschließlich BeOne Medicines Ltd. oder Kyowa Kirin Co., Ltd.), die Geschäftsentwicklung von Otezla® (Apremilast), unsere Übernahmen von ChemoCentryx, Inc., Dark Blue Therapeutics, Ltd. oder Horizon Therapeutics plc (einschließlich der voraussichtlichen Geschäftsentwicklung und des Ausblicks für das Geschäft von Horizon, der Geschäftsentwicklung und der Chancen sowie etwaiger potenzieller strategischer Vorteile, Synergien oder Chancen, die infolge einer solchen Übernahme erwartet werden) sowie Schätzungen zu Umsätzen, operativen Margen, Investitionsausgaben, Liquidität, anderer Finanzkennzahlen, erwarteter rechtlicher, schiedsgerichtlicher, politischer, regulatorischer oder klinischer Ergebnisse oder Praktiken, Verhaltensmuster oder Praktiken von Kunden und verschreibenden Ärzten, Erstattungsaktivitäten und -ergebnissen, Auswirkungen von Pandemien oder anderen weit verbreiteten Gesundheitsproblemen auf unser Geschäft, Ergebnisse, Fortschritte sowie anderer solcher Schätzungen und Ergebnisse. Zukunftsgerichtete Aussagen sind mit erheblichen Risiken und Unsicherheiten verbunden, einschließlich der nachstehend erläuterten Risiken und der Risiken, die ausführlicher in den von Amgen bei der Securities and Exchange Commission eingereichten Berichten beschrieben sind, darunter unser jüngster Jahresbericht auf Form 10-K sowie alle nachfolgenden regelmäßigen Berichte auf Form 10-Q und aktuellen Berichte auf Form 8-K. Sofern nicht anders angegeben, stellt Amgen diese Informationen zum Datum dieser Pressemitteilung zur Verfügung und übernimmt keine Verpflichtung, die in diesem Dokument enthaltenen zukunftsgerichteten Aussagen aufgrund neuer Informationen, zukünftiger Ereignisse oder aus anderen Gründen zu aktualisieren.

Keine zukunftsgerichtete Aussage kann garantiert werden, und die tatsächlichen Ergebnisse können erheblich von denen abweichen, die wir prognostizieren. Die Entdeckung oder Identifizierung neuer Produktkandidaten oder die Entwicklung neuer Indikationen für bestehende Produkte kann nicht garantiert werden und der Weg vom Konzept zum Produkt ist ungewiss. Folglich kann nicht garantiert werden, dass ein bestimmter Produktkandidat oder die Entwicklung einer neuen Indikation für ein bestehendes Produkt erfolgreich sein und zu einem kommerziellen Produkt werden wird. Außerdem sind die präklinischen Ergebnisse keine Garantie für die sichere und wirksame Leistung der Produktkandidaten beim Menschen. Die Komplexität des menschlichen Körpers kann durch Computer- oder Zellkultursysteme oder Tiermodelle nicht perfekt oder manchmal nicht einmal adäquat modelliert werden. Die Zeit, die wir benötigen, um klinische Studien abzuschließen und die behördliche Genehmigung für die Produktvermarktung zu erhalten, war in der Vergangenheit unterschiedlich lang, und wir erwarten ähnliche Schwankungen in der Zukunft. Selbst wenn die klinischen Studien erfolgreich verlaufen, können die Zulassungsbehörden die von uns gewählten Studienendpunkte als ausreichend für die Zulassung anzweifeln. Wir entwickeln Produktkandidaten sowohl intern als auch im Rahmen von Lizenzkooperationen, Partnerschaften und Joint Ventures. Produktkandidaten, die aus Beziehungen abgeleitet werden, können Gegenstand von Streitigkeiten zwischen den Parteien sein oder sich als weniger wirksam oder sicher erweisen, als wir zum Zeitpunkt des Eingehens einer solchen Beziehung angenommen haben. Außerdem könnten wir oder andere Sicherheits-, Nebenwirkungs- oder Herstellungsprobleme mit unseren Produkten, einschließlich unserer Geräte, feststellen, nachdem sie auf dem Markt sind.

Unsere Ergebnisse können von unserer Fähigkeit beeinflusst werden, neue und bestehende Produkte im In- und Ausland erfolgreich zu vermarkten, von klinischen und regulatorischen Entwicklungen bei aktuellen und zukünftigen Produkten, vom Umsatzwachstum kürzlich eingeführter Produkte, von der Konkurrenz durch andere Produkte, einschließlich Biosimilars, von Schwierigkeiten oder Verzögerungen bei der Herstellung unserer Produkte und von den globalen wirtschaftlichen Bedingungen, einschließlich derjenigen, die sich aus geopolitischen Beziehungen und Regierungsmaßnahmen ergeben. Darüber hinaus wird der Absatz unserer Produkte durch Preisdruck, politische und öffentliche Kontrolle sowie durch die Erstattungsrichtlinien von Drittanbietern, einschließlich Regierungen, privaten Versicherungsplänen und Managed-Care-Anbietern, beeinflusst. Er kann auch durch regulatorische, klinische und richtlinienbezogene Entwicklungen sowie durch nationale und internationale Trends in Richtung Managed Care und Kostendämpfung im Gesundheitswesen beeinflusst werden. Darüber hinaus unterliegen unsere Forschungs-, Test-, Preisgestaltungs-, Vermarktungs- sowie sonstigen Tätigkeiten einer umfassenden Regulierung durch in- und ausländische staatliche Aufsichtsbehörden. Unser Geschäft könnte durch staatliche Ermittlungen, Rechtsstreitigkeiten sowie Produkthaftungsansprüche beeinträchtigt werden. Zusätzlich könnte unser Geschäft durch die Einführung neuer Steuergesetze oder durch zusätzliche Steuerschulden beeinträchtigt werden. Weiterhin könnte der Schutz, den unsere Patente und Patentanmeldungen bieten, obwohl wir routinemäßig Patente für unsere Produkte und Technologien erhalten, von unseren Wettbewerbern angefochten, für ungültig erklärt oder umgangen werden, oder wir könnten in gegenwärtigen und künftigen Rechtsstreitigkeiten im Bereich geistiges Eigentum keinen Erfolg haben. Wir führen einen erheblichen Teil unserer kommerziellen Herstellungstätigkeiten in wenigen zentralen Einrichtungen durch, unter anderem in Puerto Rico, und sind zudem für einen Teil unserer Herstellungstätigkeiten auf Dritte angewiesen, und Lieferbeschränkungen könnten den Absatz bestimmter unserer derzeitigen Produkte sowie die Entwicklung bestimmter unserer Produktkandidaten einschränken. Der Ausbruch einer Krankheit oder eine ähnliche Bedrohung der öffentlichen Gesundheit sowie die öffentlichen und staatlichen Bemühungen, die Ausbreitung einer solchen Krankheit einzudämmen, könnten erhebliche nachteilige Auswirkungen auf die Versorgung mit Materialien für unsere Herstellungstätigkeiten, die Distribution unserer Produkte, die Vermarktung unserer Produktkandidaten sowie den Betrieb unserer klinischen Studien haben, und derartige Ereignisse könnten einen wesentlichen nachteiligen Einfluss auf unsere Produktentwicklung, unseren Produktabsatz, unser Geschäft sowie unsere Betriebsergebnisse haben. Wir sind bei der Entwicklung einiger unserer Produktkandidaten sowie bei der Vermarktung und dem Verkauf einiger unserer kommerziellen Produkte auf Kooperationen mit Dritten angewiesen. Zusätzlich stehen wir im Wettbewerb mit anderen Unternehmen, sowohl in Bezug auf viele unserer vermarkteten Produkte als auch bei der Entdeckung und Entwicklung neuer Produkte. Außerdem werden einige Rohstoffe, medizinische Geräte und Bauteile für unsere Produkte ausschließlich von Drittanbietern geliefert. Einige unserer Vertriebspartner, Kunden und Kostenträger haben in ihren Geschäftsbeziehungen mit uns eine erhebliche Kaufkraft. Die Entdeckung signifikanter Probleme mit einem Produkt, das einem unserer Produkte ähnlich ist und eine ganze Produktklasse betrifft, könnte erhebliche negative Auswirkungen auf den Absatz der betroffenen Produkte sowie auf unsere Geschäfts- und Betriebsergebnisse haben. Unsere Bemühungen, mit anderen Unternehmen, Produkten oder Technologien zusammenzuarbeiten oder diese zu erwerben, sowie die Geschäftsabläufe solcher Unternehmen zu integrieren oder die von uns erworbenen Produkte oder Technologien zu unterstützen, könnten nicht erfolgreich sein und könnten zu unerwarteten Kosten, Verzögerungen oder dazu führen, dass die Vorteile der Transaktionen nicht realisiert werden. Ein Ausfall, ein Cyberangriff oder eine Verletzung der Informationssicherheit unserer IT-Systeme könnte die Vertraulichkeit, Integrität und Verfügbarkeit unserer Systeme und Daten gefährden. Unser Aktienkurs ist volatil und kann durch eine Reihe von Ereignissen beeinflusst werden. Unser Geschäft und unsere Aktivitäten könnten durch das Scheitern oder das vermeintliche Scheitern bei der Erreichung unserer Nachhaltigkeitsziele negativ beeinflusst werden. Die Auswirkungen des globalen Klimawandels und der damit verbundenen Naturkatastrophen könnten sich negativ auf unser Geschäft und unseren Betrieb auswirken. Die globale Wirtschaftslage kann bestimmte Risiken, die unser Geschäft beeinträchtigen, verstärken. Unsere Geschäftsentwicklung könnte die Fähigkeit unseres Verwaltungsrats beeinträchtigen oder einschränken, eine Dividende zu beschließen, oder unsere Fähigkeit beeinträchtigen, eine Dividende zu zahlen oder unsere Stammaktien zurückzukaufen. Wir könnten nicht in der Lage sein, Zugang zu den Kapital- und Kreditmärkten zu für uns günstigen Bedingungen oder überhaupt zu erhalten.

KONTAKT: Amgen, Thousand Oaks
Madison Howard, 773-636-4910 (Medien)
Elissa Snook, 609-251-1407 (Medien)
Casey Capparelli, 805-447-1746 (Investoren)

LITERATURVERZEICHNIS

Martin, S. S., Aday, A. W., Allen, N. B., Almarzooq, Z. I., Anderson, C. A. M., Arora, P., Avery, C. L., Baker-Smith, C. M., Bansal, N., Beaton, A. Z., Commodore-Mensah, Y., Currie, M. E., Elkind, M. S. V., Fan, W., Generoso, G., Gibbs, B. B., Heard, D. G., Hiremath, S., Johansen, M. C., & Kazi, D. S. (2025). 2025 Heart Disease and Stroke Statistics: A Report of US and Global Data From the American Heart Association. Circulation, 151(8). https://doi.org/10.1161/cir.0000000000001303. MAC: REF-107092 Le, H. et al. (2025). Very High Prevalence of Nonoptimally Controlled Traditional Risk Factors at the Onset of Cardiovascular Disease. JACC, Volume 86 (Number 14) Mach F, Baigent C, Catapano AL, Koskinas KC, Casula M, Badimon L, et al. 2019 ESC/EAS Guidelines for the management of dyslipidaemias: lipid modification to reduce cardiovascular risk. European Heart Journal. 2020;41(1):111-188. doi:10.1093/eurheartj/ehz455. Eroglu T, Capone F, Schiattarella GG. The evolving landscape of cardiometabolic diseases. EBioMedicine. 2024 Nov;109:105447. doi: 10.1016/j.ebiom.2024.105447. Online veröffentlicht am 4. November 2024. PMID: 39500010; PMCID: PMC11570325.  Tan SH, Wu JL, Zhuo SX, Zhang Y, Wang M. Residual risk in atherosclerotic cardiovascular disease after statin therapy: Clinical mechanisms and management strategies. World J Cardiol. 26. Februar 2026; 18(2):114960. doi: 10.4330/wjc.v18.i2.114960. PMID: 41694036; PMCID: PMC12897005. Data on File. Amgen, 2025. Data on File. Amgen, 2025. Ndumele, C. E., & Blumenthal, R. S. (2025). VESALIUS and the Anatomy of High-Risk Prevention. New England Journal of Medicine. https://doi.org/10.1056/nejme2515447 Marston, N. A., Bohula, E. A., Bhatia, A. K., et al. (2026). Evolocumab to reduce first major cardiovascular events in patients without known significant atherosclerosis and with diabetes: Results from the VESALIUS‑CV trial. JAMA. https://doi.org/10.1001/jama.2026.3277 Data on File. Amgen, 2026. Data on File. Amgen, 2025.

Regeneron Pharmaceuticals, Inc. (REGN) Q2 2026 Earnings Call July 30, 2026 8:30 AM EDT

Company Participants

Ryan Crowe - Senior Vice President of Investor Relations & Strategic Analysis
Leonard Schleifer - Co-Founder, President, CEO & Co-Chairman
George Yancopoulos - Co-Founder, President, Chief Scientific Officer & Co-Chairman
Marion McCourt - Executive Vice President of Commercial
Christopher Fenimore - Executive VP of Finance & CFO

Conference Call Participants

Christopher Raymond - Raymond James & Associates, Inc., Research Division
Taylor Hanley - JPMorgan Chase & Co, Research Division
Tyler Van Buren - TD Cowen, Research Division
Mario Joshua Chazaro Cortes - Evercore ISI Institutional Equities, Research Division
Salveen Richter - Goldman Sachs Group, Inc., Research Division
Alexandria Hammond - Wolfe Research, LLC
Tazeen Ahmad - BofA Securities, Research Division
Evan Seigerman - BMO Capital Markets Equity Research
Gregory Renza - Truist Securities, Inc., Research Division
Carter Gould - Cantor Fitzgerald & Co., Research Division
Geoffrey Meacham - Citigroup Inc., Research Division

Presentation

Operator

Welcome to the Regeneron Pharmaceuticals Second Quarter 2026 Earnings Conference Call. My name is Michelle, and I'll be your operator for today's call. [Operator Instructions] Please note that this conference call is being recorded.

I will now turn the call over to Ryan Crowe, Senior Vice President, Investor Relations. You may begin.

Ryan Crowe
Senior Vice President of Investor Relations & Strategic Analysis

Thank you, Michelle. Good morning, good afternoon, and good evening to everyone listening around the world. Thank you for your interest in Regeneron, and welcome to our second quarter 2026 earnings conference call. An archive and transcript of this call will be available on the Regeneron Investor Relations website shortly after our call concludes.

Joining me on today's call are Dr. Leonard Schleifer, Co-Founder, Board, Co-Chair, President and Chief Executive Officer; Dr. George Yancopoulos, Co-Founder, Board, Co-Chair, President and Chief Scientific Officer; Marion McCourt, Executive Vice President, Commercial; and Chris Fenimore, Executive Vice President, Finance and Chief Financial Officer.

The Coinbase logo is seen in this illustration created on November 3, 2025. REUTERS/Dado Ruvic/Illustration Purchase Licensing Rights, opens new tab

CompaniesNEW YORK, July 30 (Reuters) - Coinbase (COIN.O), opens new tab won the dismissal on Thursday of much of a lawsuit in which customers accused the largest U.S. cryptocurrency exchange of ​illegally selling securities without registering as an exchange or broker-dealer.

Customers sued ‌over 60 tokens, including XRP and dogecoin, that they claimed were unregistered securities, seeking unspecified damages in the proposed class action.

The Reuters Daily Briefing newsletter provides all the news you need to start your day. Sign up here.

U.S. District Judge Paul Engelmayer in Manhattan dismissed all claims based ​on "matched" transactions where Coinbase paired customers' buy and sell orders. These accounted ​for an estimated 99.97% of trading volume, equal to hundreds of ⁠billions of dollars.

The judge also said customers may pursue claims over "inventory" transactions, where ​Coinbase fills orders from tokens it owns. These accounted for the remaining trading volume, ​comprising at least $178 million in sales.

Lawyers for the customers did not immediately respond to requests for comment. Coinbase and its lawyers did not immediately respond to similar requests.

Like other cryptocurrency industry ​participants, Coinbase has seen a rollback of regulatory oversight under the second Trump ​administration.

The lawsuit's outcome turned on whether Coinbase qualified as a statutory seller under the federal Securities ‌Act ⁠of 1933 and state "blue sky" laws designed to prevent fraudulent securities sales.

Engelmayer said Coinbase was not a statutory seller for matched transactions because it did not pass ownership of tokens to buyers, and did not induce, or "solicit," the transactions merely by ​providing basic overviews of ​tokens and their ⁠price histories.

Coinbase was a statutory seller for inventory transactions, however, because it passed title of tokens to buyers, and acted ​as a dealer and underwriter, Engelmayer said.

The lawsuit began in ​2021. Engelmayer dismissed ⁠other federal securities law claims in 2023.

Digital Chamber, a cryptocurrency trade group, supported Coinbase, saying an expansive definition of statutory seller could stifle innovation and drive trading volume ⁠to non-U.S. ​exchanges.

Last year, the U.S. Securities and Exchange Commission ended ​a lawsuit it brought in 2023 that accused Coinbase of allowing trading in tokens that should have ​been registered as securities.

Reporting by Jonathan Stempel in New York; Editing by Joe Bavier

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

For the quarter ended June 2026, Crocs (CROX - Free Report) reported revenue of $1.18 billion, up 2.6% over the same period last year. EPS came in at $4.55, compared to $4.23 in the year-ago quarter.

The reported revenue represents a surprise of +2.79% over the Zacks Consensus Estimate of $1.15 billion. With the consensus EPS estimate being $4.32, the EPS surprise was +5.32%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

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

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

Geographic Revenues- International: $541.7 million compared to the $542.15 million average estimate based on two analysts. The reported number represents a change of +7.8% year over year.Geographic Revenues- North America: $458.73 million versus $446.51 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +0.4% change.Revenues- Crocs Brand: $1 billion versus $981.51 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +4.3% change.Revenues- HEYDUDE Brand: $179.03 million compared to the $167.01 million average estimate based on four analysts. The reported number represents a change of -5.7% year over year.Revenues By Channel- HEYDUDE Brand- Wholesale: $82.56 million compared to the $73.91 million average estimate based on two analysts. The reported number represents a change of -17.2% year over year.Revenues By Channel- Crocs Brand- Direct-to-Consumer: $558.94 million versus the two-analyst average estimate of $554.15 million. The reported number represents a year-over-year change of +12.9%.Revenues By Channel- HEYDUDE Brand- Direct-to-Consumer: $96.47 million versus the two-analyst average estimate of $94.21 million. The reported number represents a year-over-year change of +7.2%.Revenues By Channel- Crocs Brand- Wholesale: $441.5 million versus the two-analyst average estimate of $434.51 million. The reported number represents a year-over-year change of -5%.Non-GAAP Gross Margin- HEYDUDE Brand: 43.7% compared to the 47.4% average estimate based on two analysts.Non-GAAP Gross Margin- Crocs Brand: 63.1% versus the two-analyst average estimate of 62.8%.View all Key Company Metrics for Crocs here>>>

Shares of Crocs have returned +7.5% over the past month versus the Zacks S&P 500 composite's -1.5% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

American Electric Power Company, Inc. (AEP) Q2 2026 Earnings Call July 30, 2026 9:00 AM EDT

Company Participants

Andy Gurgol
William Fehrman - Chairman, President & CEO
Trevor Mihalik - Executive VP & CFO
Kate Sturgess - Senior VP, Controller & Chief Accounting Officer

Conference Call Participants

Shahriar Pourreza - Wells Fargo Securities, LLC, Research Division
Steven Fleishman - Wolfe Research, LLC
Julien Dumoulin-Smith - Jefferies LLC, Research Division
Richard Sunderland - Truist Securities, Inc., Research Division
David Arcaro - Morgan Stanley, Research Division
Aidan Kelly - JPMorgan Chase & Co, Research Division
Michael Lonegan - Barclays Bank PLC, Research Division

Presentation

Operator

Hello, and thank you for standing by. My name is Lacey, and I will be your conference operator today. At this time, I would like to welcome everyone to the American Electric Power Second Quarter 2026 Earnings Call. [Operator Instructions] Thank you.

I would now like to turn the call over to Andy Gurgol, Vice President of Investor Relations. You may go ahead.

Andy Gurgol

Good morning, and welcome to American Electric Power's Second Quarter 2026 Earnings Call. A live webcast of this teleconference and slide presentation are available on our website under the Events & Presentations section.

Joining me today are Bill Fehrman, Chairman, President and Chief Executive Officer; and Trevor Mihalik, Chief Financial Officer. In addition, we have other members of our management team in the room, including Kate Dixon, Senior Vice President, Controller and Chief Accounting Officer; and Darcy Reese, Vice President, Investor Relations.

We will be making forward-looking statements during the call. Actual results may differ materially from those projected in any forward-looking statements we make today. Factors that could cause our actual results to differ materially are discussed in the company's most recent SEC filings. Please refer to the presentation slides that accompany this call for a reconciliation to GAAP measures. We

Neogen Corporation (NEOG) Q4 2026 Earnings Call July 30, 2026 8:00 AM EDT

Company Participants

Scott Gleason
Mikhael Nassif - CEO, President & Director
Joe Freels
R. Riggsbee - CFO & Senior Vice President

Conference Call Participants

Subhalaxmi Nambi - Guggenheim Securities, LLC, Research Division
David Westenberg - Piper Sandler & Co., Research Division
Bob Labick - CJS Securities, Inc.

Presentation

Operator

Hello, everyone. Thank you for joining us, and welcome to the Neogen 4Q '26 Earnings Call. [Operator Instructions] I will now hand the conference over to Scott Gleason. Scott, please go ahead.

Scott Gleason

Thank you for joining us this morning to discuss our fiscal fourth quarter and full year 2026 results. I will briefly cover our non-GAAP and forward-looking disclosures before turning the call over to our CEO, Mike Nassif; our CFO, Bryan Riggsbee; and our CCO, Joe Freels.

Earlier this morning, we issued our fourth quarter and full year results and accompanying presentation, both of which are available on the Investor Relations section of our website. During today's call, we will reference certain non-GAAP financial measures that we believe provide useful insight into our performance. Reconciliations of historical non-GAAP measures are included in our earnings release and presentation. Please also refer to Slide 2 of the presentation, which contains reminders regarding forward-looking statements under the Private Securities Litigation Reform Act. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. These risks are described in our most recent annual report on Form 10-K and in other filings with the SEC. We undertake no obligation to update these forward-looking statements.

With that, I'm pleased to turn the call over to Mike.

Mikhael Nassif
CEO, President & Director

Thank you, Scott. Good morning, and thank you for joining us. We operate in a

Leonardo DRS, Inc. (DRS) Q2 2026 Earnings Call July 30, 2026 10:00 AM EDT

Company Participants

Stephen Vather - Senior VP of Corporate Development (M&A) & Investor Relations
John Baylouny - President, CEO & Director
Michael Dippold - Executive VP & CFO

Conference Call Participants

Peter Arment - Robert W. Baird & Co. Incorporated, Research Division
Robert Stallard - Vertical Research Partners, LLC
Edward Morgan - BTIG, LLC, Research Division
Jonathan Tanwanteng - CJS Securities, Inc.
Seth Seifman - JPMorgan Chase & Co, Research Division
Ronald Epstein - BofA Securities, Research Division
Noah Poponak - Goldman Sachs Group, Inc., Research Division
Justin Lang - Morgan Stanley, Research Division
Alexandra Eleni Mandery - Truist Securities, Inc., Research Division
Austin Moeller - Canaccord Genuity Corp., Research Division

Presentation

Operator

Ladies and gentlemen, good day, and welcome to the Leonardo DRS Second Quarter Fiscal Year 2026 Earnings Conference Call. [Operator Instructions] As a reminder, this event is being recorded.

I would now like to turn the conference over to Steve Vather, Senior Vice President, Corporate Development and Investor Relations. Please go ahead.

Stephen Vather
Senior VP of Corporate Development (M&A) & Investor Relations

Good morning, and welcome, everyone. Thank you for joining today's quarterly earnings conference call. With me today are John Baylouny, our President and CEO; and Mike Dippold, our CFO. They will discuss our strategy, operational highlights, financial results and outlook. Today's call is being webcast on the Investor Relations section of the website, where you can find the earnings release and supplemental presentation.

Management may also make forward-looking statements during the call regarding future events, future trends and the anticipated future performance of the company. We caution you that such statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. Actual results may differ materially from those projected in the forward-looking statements due to a

Key Takeaways Norfolk Southern posted Q2 adjusted EPS of $3.52, beating estimates by 9% as railway revenue hit a record.NSC saw full-year earnings estimates rise over four weeks after stronger revenue and operating execution.Norfolk Southern generated $1.40B operating cash flow in H1 while reducing debt and maintaining its dividend. Norfolk Southern Corporation (NSC - Free Report) has a stronger near-term setup after a solid second-quarter earnings beat, record railway operating revenues and positive estimate revisions. The stock also offers meaningful price-target upside from the reported share price.

The trade-off is valuation. Investors are being asked to pay a premium multiple while cost inflation, service execution and merger-related uncertainty remain important risks.

NSC’s Earnings Beat Supports the Bull CaseNorfolk Southern reported adjusted second-quarter 2026 earnings of $3.52 per share, up 7% year over year. The result was 9% above the Zacks Consensus Estimate of $3.23.

Railway operating revenues rose 11% year over year to a record $3.47 billion, topping the consensus mark by 4.4%. The gain reflected 4% volume growth, stronger revenue per unit and higher fuel surcharges.

Norfolk Southern’s Estimates Are Moving HigherEstimate momentum adds support to the near-term bull case. The full-year earnings estimate has increased 3.9% over the past four weeks, while the report also shows positive changes across one-week, four-week and 12-week estimate-revision periods.

That matters because rising estimates often reinforce favorable short-term sentiment. For NSC, the revisions suggest analysts are giving more credit to revenue improvement and operating execution after the stronger-than-expected quarter.

NSC Trades at a Premium ValuationNSC trades at 25.17X forward 12-month earnings. That is above 21.77X for the Zacks rail sub-industry, 13.6X for the broader transportation sector and 21.57X for the S&P 500.

The premium is not only relative. Norfolk Southern’s five-year forward P/E range runs from 14.03X to 25.2X, with a median of 18.71X, putting the current multiple near the top of its own historical range.

Norfolk Southern Offers Measured Target UpsideNorfolk Southern’s $383 price target compares with a reported share price of $335.74. That implies meaningful appreciation potential from that level.

Still, the upside is not without a cost. Investors are paying a high multiple for projected 2026 EPS of $12.60 versus $12.49 in 2025, suggesting relatively modest near-term earnings growth despite stronger revenue momentum.

NSC’s Cash Flow Supports Core PrioritiesNorfolk Southern generated $1.40 billion of operating cash flow in the first half of 2026. The company ended June with $1.07 billion in cash and cash equivalents, while total debt declined to $16.62 billion from $17.09 billion at year-end 2025.

Shareholder returns remain anchored by the dividend. Norfolk Southern announced a quarterly dividend of $1.35 per share, and the company has paid dividends for 176 consecutive quarters since its formation in 1982. Buybacks, however, remain suspended following the Union Pacific (UNP - Free Report) merger agreement.

Norfolk Southern’s Scores Favor MomentumThe bottom line: NSC’s earnings beat, estimate revisions and price-target upside support investor interest, especially for those focused on momentum. Record revenues and improved demand trends strengthen the near-term story.

The stock carries a Zacks Rank #2 (Buy), and its Momentum Score of A supports the near-term case. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

However, the Value Score of F, Growth Score of D and VGM Score of D show that NSC looks more suitable for momentum-oriented investors than for value or growth-focused buyers.

National Fuel Gas Company (NFG) Q3 2026 Earnings Call July 30, 2026 9:00 AM EDT

Company Participants

Ryan Vossler
David Bauer - President, CEO & Director
Timothy Silverstein - CFO & Treasurer
Justin Loweth - Senior Vice President

Conference Call Participants

Timothy Rezvan - KeyBanc Capital Markets Inc., Research Division
Neil Mehta - Goldman Sachs Group, Inc., Research Division

Presentation

Operator

Hello, everyone. Thank you for joining us, and welcome to the National Fuel Gas Company Third Quarter Fiscal 2026 Earnings Call. [Operator Instructions] I will now hand the conference over to Ryan Vossler, Director of Investor Relations. Please go ahead.

Ryan Vossler

Thank you, and good morning. Apologies, we had temporary moderator challenges. So we appreciate you joining us on today's conference call for a discussion of last evening's earnings release. With us on the call from National Fuel Gas Company are Dave Bauer, President and Chief Executive Officer; Tim Silverstein, Treasurer and Chief Financial Officer; and Justin Loweth, President of Seneca Resources and National Fuel Midstream. At the end of today's prepared remarks, we will open the discussion to questions.

The third quarter fiscal 2026 earnings release and July investor presentation have been posted on our Investor Relations website. We may refer to these materials during today's call. We would like to remind you that today's teleconference will contain forward-looking statements.

While National Fuel's expectations, beliefs and projections are made in good faith and are believed to have a reasonable basis, actual results may differ materially. These statements speak only as of the date on which they are made, and you may refer to last evening's earnings release for a listing of certain specific risk factors.

With that, I'll turn it over to Dave Bauer.

David Bauer
President, CEO & Director

Thank you, Ryan, and good morning, everyone. Before I get to the

Okta on Thursday agreed to acquire AI identity security startup Permiso Security, betting that demand for protecting AI agents and other machine identities will grow as enterprises deploy autonomous software across their operations.

The identity management company did not disclose the terms of the transaction. But TechCrunch has learned that the acquisition is valued at just under $200 million and is structured as an almost all-cash deal, according to a source with knowledge of the deal. A spokesperson for Okta did not dispute the $200M figure when TechCrunch asked CEO Todd McKinnon for comment about the deal, but the company would not comment on specifics of the deal terms.

The deal is expected to close in the third quarter of its fiscal 2027, Okta said, subject to customary closing conditions.

Okta’s move to buy Permiso comes as identity management companies seek to expand beyond verifying users at login to continuously monitoring what users, applications, and AI agents do once gaining authorized access to a network environment. That shift has intensified competition to secure machine identities as enterprises embed AI deeper into everyday operations.

Permiso, which emerged from stealth in 2022, develops software that helps security teams spot suspicious activity in cloud environments after users or applications have been granted access. More recently, the startup has expanded its platform to monitor AI agents and other machine identities.

Co-founded by former FireEye executives Paul Nguyen and Jason Martin, Permiso specializes in detecting attacks that use stolen or compromised identities to move through cloud infrastructure. In April, the startup also introduced SandyClaw, a platform designed to analyze AI agent skills in a sandboxed environment to identify malicious behavior before they are deployed.

The deal strengthens Okta’s push into securing AI agents and other non-human identities alongside its core identity management business.

“Permiso will extend Okta’s identity security fabric with proven identity threat detection and response capabilities, and an incredible threat research and security team that will advance Okta’s threat detection and prevention capabilities,” Okta’s chief product officer Ely Kahn said in a prepared statement.

Permiso has raised about $29 million to date, including an $18.5 million Series A round in April 2024 led by Altimeter Capital. People familiar with the financing said the Series A valued the Palo Alto-based startup at about $80 million on a post-money basis.

When you purchase through links in our articles, we may earn a small commission. This doesn’t affect our editorial independence.

Jagmeet covers startups, tech policy-related updates, and all other major tech-centric developments from India for TechCrunch. He previously worked as a principal correspondent at NDTV.

You can contact or verify outreach from Jagmeet by emailing [email protected].

Exelon Corporation (EXC) Q2 2026 Earnings Call July 30, 2026 10:00 AM EDT

Company Participants

Ryan Brown - Vice President of Investor Relations
Calvin Butler - CEO, President & Director
Jeanne Jones - Executive VP of Audit & Risk and CFO
Michael Innocenzo - Executive VP & COO
Carim Khouzami - Executive Vice President Transmission & Development

Conference Call Participants

Shahriar Pourreza - Wells Fargo Securities, LLC, Research Division
Aidan Kelly - JPMorgan Chase & Co, Research Division
Paul Zimbardo - Jefferies LLC, Research Division
Andrew Weisel - Scotiabank Global Banking and Markets, Research Division

Presentation

Operator

Hello, and welcome to Exelon's Second Quarter Earnings Call. My name is Josh, and I will be your event specialist today. [Operator Instructions] Please note that today's webcast is being recorded. [Operator Instructions] It is now my pleasure to turn today's program over to Ryan Brown, Vice President of Investor Relations. The floor is yours.

Ryan Brown
Vice President of Investor Relations

Great. Thank you, Josh. Good morning, everyone. I appreciate you joining us for our 2026 second quarter earnings call. Leading the call today are Calvin Butler, Exelon's President and Chief Executive Officer; and Jeanne Jones, Exelon's Chief Financial Officer. Other members of Exelon's senior management team are also with us today and will be available to answer your questions following our prepared remarks.

Today's presentation, along with our earnings release and other financial information can be found in the Investor Relations section of Exelon's website. We'd also like to remind you that today's presentation and the associated earnings release materials contain forward-looking statements, which are subject to risks and uncertainties. You can find the cautionary statements on these risks on Slide 2 of today's presentation or in our SEC filings.

In addition, today's presentation includes references to adjusted operating earnings and other non-GAAP measures. Reconciliations between these measures

Key Takeaways Avery Dennison beat Q2 earnings and revenue estimates as volume, pricing and productivity lifted the results.AVY expanded gross and operating margins, supported by pricing and favorable raw-material dynamics.Avery Dennison expects second-half destocking, with the biggest inventory unwind anticipated in Q3. Avery Dennison Corporation’s (AVY - Free Report) adjusted earnings of $2.89 per share for the second quarter of 2026 grew 19.4% year over year. The figure surpassed the Zacks Consensus Estimate of $2.47.

Including one-time items, the company has reported earnings per share of $2.67 compared with the year-ago quarter’s $2.41.

Revenues increased 10.9% year over year to $2.46 billion and beat the consensus estimate of $2.29 billion. Strong volume growth, productivity gains, and favorable pricing and raw-material dynamics supported the results. Organic sales rose 7.6%.

Avery Dennison's Q2 Margins ExpandThe cost of sales in the quarter increased 9.6% year over year to $1.73 billion. Gross profit rose 14.1% to $729.4 million. The gross margin came in at 29.6%, up from the prior-year quarter’s 28.8%.

Marketing, general and administrative expenses were $352.4 million compared with $394.8 million in the year-ago quarter. Adjusted operating profit increased to $334.6 million from $286.7 million. The adjusted operating margin was 13.6% compared with 12.9% in the prior-year quarter.

Adjusted EBITDA advanced 14.6% to $421 million. The corresponding margin improved 50 basis points to 17.1%. Volume, productivity and the net benefit of pricing and raw-material costs supported profitability, though higher employee-related expenses remained a headwind.

AVY’s Segments PerformanceRevenues in the Materials Group segment increased 15.9% year over year to $1.80 billion in the reported quarter. Our estimate was $1.61 billion. On an organic basis, sales improved 9.7%, driven by high-single-digit volume and mix growth, and a low-single-digit increase in pricing.

The segment’s adjusted operating profit increased 17.1% year over year to $284 million. Our estimate was $258 million. The adjusted operating margin was 15.8% compared with 15.6% in the prior-year quarter.

Revenues in the Solutions Group declined 0.5% year over year to $667 million. Our estimate was $672 million. On an organic basis, sales improved 2.6%, with overall apparel categories registering high-single-digit growth.

The segment’s adjusted operating income increased 14.2% year over year to $76.5 million. Our estimate was $67 million. The adjusted operating margin expanded to 11.5% from 10% in the year-ago quarter.

Avery Dennison’s Cash & Debt PositionThe company returned $347 million in cash to shareholders through share repurchases and dividend payments in the first half of 2026. AVY repurchased 1.2 million shares, with payments totaling $198 million.

Avery Dennison ended the second quarter of 2026 with cash and cash equivalents of $227 million compared with $216 million at the end of the year-ago period.

The company’s long-term debt and finance leases were $3.18 billion at the end of the second quarter, up from $2.63 billion in the year-ago period. Its net-debt-to-adjusted-EBITDA ratio was 2.3X.

AVY realized approximately $34 million in pre-tax savings from restructuring actions in the first half of 2026. The company also incurred around $34 million in pre-tax restructuring charges.

AVY's 2026 Outlook Reflects Destocking RiskAvery Dennison expects reported earnings of $9.40-$9.70 per share for 2026. Adjusted earnings are projected between $10 and $10.30 per share. The outlook assumes reported sales growth of 5-6% and organic growth of 3-4%.

AVY expects much of the customer inventory stocking recorded in the first half to unwind during the second half, with most destocking anticipated in the third quarter. The company consequently expects a greater-than-historical sequential earnings decline in that period. It is also targeting adjusted free cash flow conversion of approximately 100% and more than $60 million in incremental restructuring savings.

Avery Dennison Stock’s Price PerformanceAVY shares have gained 1.5% in the past year compared with the industry’s growth of 5.2%.

Image Source: Zacks Investment Research

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

Performances of Other Packaging StocksPackaging Corporation of America (PKG - Free Report) reported second-quarter 2026 adjusted earnings of $2.35 per share, down 5.2% year over year but beating the Zacks Consensus Estimate of $2.31. The bottom line also came above Packaging Corp’s guidance of $2.33.

Packaging Corp’s revenues increased 14.7% year over year to $2.49 billion and surpassed the consensus estimate of $2.40 billion by 3.6%. Total corrugated products shipments reached an all-time quarterly record, rising 24.3% both per day and in total from the prior-year quarter.

Crown Holdings, Inc. (CCK - Free Report) posted second-quarter 2026 adjusted earnings of $2.49 per share, up 15.8% year over year. The figure surpassed the Zacks Consensus Estimate of $2.15 by 15.81%.

Crown Holdings revenues increased 16.5% to $3.67 billion and beat the consensus estimate of $3.34 billion by 9.88%. Global beverage can volumes rose 5%, led by 6% growth in Europe and 5% growth in the Americas. This was partially offset by softer demand in Latin America.

Sonoco Products Company (SON - Free Report) reported adjusted earnings of $1.51 per share in the second quarter of 2026, beating the Zacks Consensus Estimate of $1.47 by 2.72%. The figure rose 10.2% from $1.37 in the year-ago quarter. Pricing actions, favorable foreign-exchange movements and productivity gains helped offset softer volume/mix during the quarter.

Sonoco’s revenues of $1.885 billion declined 1.3% year over year and missed the consensus mark of $1.886 billion by 0.05%. Sonoco’s top line declined from the prior-year period primarily due to the absence of sales from the ThermoSafe business, which was divested in November 2025.