Track market-moving stories before they get noisy

For the quarter ended June 2026, Emcor Group (EME - Free Report) reported revenue of $5.15 billion, up 19.8% over the same period last year. EPS came in at $9.06, compared to $6.72 in the year-ago quarter.

The reported revenue represents a surprise of +9% over the Zacks Consensus Estimate of $4.73 billion. With the consensus EPS estimate being $7.23, the EPS surprise was +25.31%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

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

Revenues- United States electrical construction and facilities services: $1.66 billion versus $1.52 billion estimated by two analysts on average.Revenues- United States mechanical construction and facilities services: $2.3 billion versus $2.13 billion estimated by two analysts on average.Revenues- United States industrial services: $353.81 million compared to the $305 million average estimate based on two analysts.Revenues- United States building services: $837.71 million compared to the $828.5 million average estimate based on two analysts.Revenues- Total United States operations: $5.15 billion compared to the $4.78 billion average estimate based on two analysts.View all Key Company Metrics for Emcor Group here>>>

Shares of Emcor Group have returned -16.4% over the past month versus the Zacks S&P 500 composite's -1.5% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

30.7.2026 17:52, AMZN

Americký e-shop a poskytovatel cloudové infrastruktury Amazon zveřejní své výsledky hospodaření za 2Q 2026 již dnes po uzavření amerických trhů. Přinášíme přehled toho nejdůležitějšího, co bude stát za pozornost.

Výnosy potáhne AWS i reklama Celkové výnosy by podle analytiků měly meziročně vzrůst o 17,5 % na 197,01 mld. USD, tedy do horní poloviny výhledu společnosti 194 až 199 mld. USD. Růst by měly táhnout divize AWS a reklamních služeb.

Odhady výnosů Amazonu ze 2Q dle divize
(mld. USD) Divize Konsensus 2Q 2025 Meziroční změna Online prodej (1P)
69,92 61,49 +14 % Služby pro prodejce třetích stran (3P)
46,15 40,35 +14 % Cloudové služby AWS
40,57 30,87 +31 % Reklamní služby
19,32 15,69 +23 % Služby související s předplatným 13,75 12,21 +13 %  Kamenné obchody 5,87 5,60 +5 % Ostatní 1,66 1,50 +11 %  Klíčovým tématem zůstává AWS Nejsledovanějším segmentem bude bezpochyby AWS, u kterého se očekává další zrychlení. Po 20% růstu výnosů ve 3Q 2025, 24 % ve 4Q a 28 % v 1Q 2026, trh očekává meziroční růst o 31 % na 40,57 mld. USD. Analytici z Wells Fargo očekávají dokonce zrychlení na +34 % meziročně, přičemž odhadují příspěvek Anthropicu k meziročnímu růstu AWS ve 2Q (oproti 1Q) dodatečnými ~400 bazickými body.

Pozornost si zaslouží také objem nezpracovaných zakázek. Management naposledy uvedl backlog AWS ve výši 364 mld. USD, a to bez následně uzavřené obrovské dohody s Anthropicem (>100 mld. USD). Vedle cloudu bude také stát za pozornost případný komentář k byznysu s vlastními čipy (Graviton a Trainium). Ten podle posledního komentáře ve výsledcích za 1Q dosahoval ročního tempa tržeb 20 mld. USD s trojciferným meziročním růstem.

Zisk na akcii bude pravděpodobně zkreslený přeceněním Anthropicu Trh odhaduje zisk na akcii ve výši 1,84 USD. Stejně jako ve výsledkovém reportu Alphabet za 2Q bude však zisk na akcii pravděpodobně zkreslený přeceněním podílu v Anthropicu. Již výsledky za 1Q zahrnovaly přecenění ve výši 16,8 mld. USD právě z tohoto podílu. Více vypovídající tak bude provozní zisk, který Amazon očekával v rozmezí 20 až 24 mld. USD. Trh odhaduje 23,61 mld. USD.

Kapitálové výdaje ve středu zájmu Amazon již avizoval, že letos plánuje proinvestovat zhruba 200 mld. USD napříč AI infrastrukturou, čipy, robotikou, logistickými aktivy i satelity na nízké oběžné dráze (v rámci Amazon LEO). Za samotný druhý kvartál očekávají analytici kapitálové výdaje 49,41 mld. USD. Bude tak zajímavé sledovat, zda Amazon ve stopách Alphabetu svůj letošní výhled kapitálových výdajů navýší.

Odvrácenou stranou investic je pokračující tlak na volné hotovostní toky, které ve výsledcích za 1Q za posledních dvanáct měsíců činily pouhých 1,23 mld. USD. Dá se tak očekávat, že stejně jako u Alphabetu se dostanou do záporných hodnot.

Představení společnosti Zajímá vás společnost Amazon? Přečtěte si první a druhý díl podrobného představení společnosti.

Akcie Amazon Akcie Amazon (AMZN) před výsledky posilují o 4,95 % na 237,86 USD.

Zdroj: Bloomberg

Michal Bárta
Fio banka, a.s.
Prohlášení

Leonardo DRS, Inc. (DRS - Free Report) reported $913 million in revenue for the quarter ended June 2026, representing a year-over-year increase of 10.1%. EPS of $0.35 for the same period compares to $0.23 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $899.45 million, representing a surprise of +1.51%. The company delivered an EPS surprise of +29.63%, with the consensus EPS estimate being $0.27.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

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 Leonardo DRS, Inc. performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Revenue- Integrated Mission Systems (IMS): $333 million versus the two-analyst average estimate of $324.9 million. The reported number represents a year-over-year change of +14.8%.Revenue- Advanced Sensing and Computing (ASC): $587 million versus $585.36 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +8.3% change.Adjusted EBITDA- Integrated Mission Systems (IMS): $59 million versus $48.4 million estimated by two analysts on average.Adjusted EBITDA- Advanced Sensing and Computing (ASC): $69 million compared to the $65.86 million average estimate based on two analysts.View all Key Company Metrics for Leonardo DRS, Inc. here>>>

Shares of Leonardo DRS, Inc. have returned +9% over the past month versus the Zacks S&P 500 composite's -1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

Alnylam Pharmaceuticals (ALNY - Free Report) came out with quarterly earnings of $1.84 per share, missing the Zacks Consensus Estimate of $2.05 per share. This compares to earnings of $0.32 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of -10.24%. A quarter ago, it was expected that this RNA interference drug developer would post earnings of $1.43 per share when it actually produced earnings of $1.99, delivering a surprise of +39.16%.

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

Alnylam, which belongs to the Zacks Medical - Biomedical and Genetics industry, posted revenues of $1.29 billion for the quarter ended June 2026, missing the Zacks Consensus Estimate by 2.09%. This compares to year-ago revenues of $773.69 million. The company has topped consensus revenue estimates two times over the last four quarters.

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

Alnylam shares have lost about 27.9% since the beginning of the year versus the S&P 500's gain of 6.9%.

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

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

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

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

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $2.22 on $1.47 billion in revenues for the coming quarter and $8.98 on $5.62 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Biomedical and Genetics is currently in the top 37% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

One other stock from the same industry, Protagonist Therapeutics (PTGX - Free Report) , is yet to report results for the quarter ended June 2026.

This biopharmaceutical company is expected to post quarterly earnings of $2.11 per share in its upcoming report, which represents a year-over-year change of +483.6%. The consensus EPS estimate for the quarter has been revised 12.6% higher over the last 30 days to the current level.

Protagonist Therapeutics' revenues are expected to be $220.34 million, up 3870.1% from the year-ago quarter.

Hilton Grand Vacations (HGV - Free Report) came out with quarterly earnings of $0.89 per share, beating the Zacks Consensus Estimate of $0.86 per share. This compares to earnings of $0.54 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +3.49%. A quarter ago, it was expected that this company would post earnings of $0.44 per share when it actually produced earnings of $0.99, delivering a surprise of +125%.

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

Hilton Grand Vacations, which belongs to the Zacks Hotels and Motels industry, posted revenues of $1.36 billion for the quarter ended June 2026, missing the Zacks Consensus Estimate by 1.16%. This compares to year-ago revenues of $1.27 billion. The company has topped consensus revenue estimates just once over the last four quarters.

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

Hilton Grand Vacations shares have added about 14.9% since the beginning of the year versus the S&P 500's gain of 6.9%.

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

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

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

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

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.11 on $1.46 billion in revenues for the coming quarter and $4.66 on $5.68 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Hotels and Motels is currently in the bottom 13% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the same industry, H World Group (HTHT - Free Report) , has yet to report results for the quarter ended June 2026.

This hotel operator is expected to post quarterly earnings of $0.74 per share in its upcoming report, which represents a year-over-year change of +25.4%. The consensus EPS estimate for the quarter has been revised 1.4% higher over the last 30 days to the current level.

H World Group's revenues are expected to be $983.82 million, up 9.7% from the year-ago quarter.

Wall Street analysts expect EOG Resources (EOG - Free Report) to post quarterly earnings of $5.10 per share in its upcoming report, which indicates a year-over-year increase of 119.8%. Revenues are expected to be $7.95 billion, up 45.2% from the year-ago quarter.

Over the last 30 days, there has been a downward revision of 6.3% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.

Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.

While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.

That said, let's delve into the average estimates of some EOG Resources metrics that Wall Street analysts commonly model and monitor.

According to the collective judgment of analysts, 'Revenues- Natural gas' should come in at $801.81 million. The estimate indicates a change of +33.6% from the prior-year quarter.

The consensus among analysts is that 'Revenues- Crude Oil and Condensate' will reach $4.99 billion. The estimate points to a change of +67.7% from the year-ago quarter.

Based on the collective assessment of analysts, 'Revenues- Natural Gas Liquids' should arrive at $817.88 million. The estimate indicates a change of +53.2% from the prior-year quarter.

Analysts expect 'Revenues- Gathering, Processing and Marketing' to come in at $1.32 billion. The estimate suggests a change of +6.2% year over year.

The combined assessment of analysts suggests that 'Crude Oil and Condensate Volumes per day - Total' will likely reach 549.47 thousands of barrels of oil. The estimate is in contrast to the year-ago figure of 504.20 thousands of barrels of oil.

The consensus estimate for 'Natural Gas Volumes per day - Total' stands at . The estimate is in contrast to the year-ago figure of .

Analysts forecast 'Crude Oil Equivalent Volumes per day - Total' to reach 1,396.82 thousands of barrels of oil equivalent. The estimate is in contrast to the year-ago figure of 1,134.10 thousands of barrels of oil equivalent.

Analysts' assessment points toward 'Natural Gas Liquids Volumes per day - Total' reaching 337.91 thousands of barrels of oil. Compared to the present estimate, the company reported 258.40 thousands of barrels of oil in the same quarter last year.

It is projected by analysts that the 'Average Natural Gas Liquids Prices per bbl - Composite' will reach $26.79 . Compared to the present estimate, the company reported $22.70 in the same quarter last year.

Analysts predict that the 'Average Crude Oil and Condensate Prices per bbl - Composite' will reach $101.32 . Compared to the present estimate, the company reported $64.82 in the same quarter last year.

The average prediction of analysts places 'Average Crude Oil and Condensate Prices per bbl - United States' at $99.80 . Compared to the current estimate, the company reported $64.84 in the same quarter of the previous year.

The collective assessment of analysts points to an estimated 'Total Production' of 127 thousands of barrels of oil equivalent. The estimate is in contrast to the year-ago figure of 103 thousands of barrels of oil equivalent.

View all Key Company Metrics for EOG Resources here>>>

Shares of EOG Resources have experienced a change of +13.5% in the past month compared to the -1.5% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), EOG is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

InterDigital (IDCC - Free Report) came out with quarterly earnings of $4.62 per share, beating the Zacks Consensus Estimate of $1.6 per share. This compares to earnings of $6.52 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +188.75%. A quarter ago, it was expected that this wireless research and development company would post earnings of $2.54 per share when it actually produced earnings of $2.57, delivering a surprise of +1.18%.

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

InterDigital, which belongs to the Zacks Wireless Equipment industry, posted revenues of $260.17 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 80.65%. This compares to year-ago revenues of $300.6 million. The company has topped consensus revenue estimates four times over the last four quarters.

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

InterDigital shares have lost about 18% since the beginning of the year versus the S&P 500's gain of 6.9%.

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

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

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

Ahead of this earnings release, the estimate revisions trend for InterDigital was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $2.13 on $157.39 million in revenues for the coming quarter and $8.77 on $679.75 million in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Wireless Equipment is currently in the top 23% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Clearfield (CLFD - Free Report) , another stock in the same industry, has yet to report results for the quarter ended June 2026. The results are expected to be released on August 5.

This maker of fiber optic management products is expected to post quarterly earnings of $0.20 per share in its upcoming report, which represents a year-over-year change of +81.8%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Clearfield's revenues are expected to be $44 million, down 11.8% from the year-ago quarter.

Vertiv Holdings (NYSE:VRT | VRT Price Prediction) trades at $222.44, while the Wall Street consensus price target sits at $376.15, an implied upside of roughly 69%. Loop Capital’s Ananda Baruah carries a Street-high $500 target that implies gains of roughly 125% from here.

Vertiv designs the power and thermal infrastructure for AI data centers, from switchgear to direct-to-chip liquid cooling. It joined the S&P 500 in March 2026 and earned investment-grade credit ratings shortly after. Wall Street has treated it as a pure-play AI infrastructure name for two years.

The recent gap between price and target matters: either the market is right that growth is slowing, or analysts are right that this is a reset in a still-accelerating business.

A One-Day Earnings Reaction Erased a Month of Gains Vertiv fell 17.48% in a single session after reporting Q2 2026 results, capping a 27.34% drop over the past month. Revenue rose 24.1% to $3.27 billion, adjusted EPS came in at $1.52 (a fifth straight beat), and free cash flow jumped 234%. The issue was expectations. After a 55% surge in Q1 and a backlog of $15 billion exiting 2025, investors were pricing in acceleration. Instead, they got EMEA growth of just 1.7%, tariff commentary, and full-year EPS guidance of $6.65 to $6.75 that some viewed as conservative against the backlog setup.

Why the Sell Side Is Not Blinking Analysts see a mismatch between a one-quarter timing issue and a multi-year build cycle. Coverage skews decisively bullish: 3 Strong Buy, 19 Buy, 3 Hold, 0 Sell, and 1 Strong Sell. The consensus $376.15 target sits well above current levels, and Loop Capital’s $500 case is the loudest voice.

Baruah’s thesis centers on Vertiv’s position as the primary vendor for direct-to-chip liquid cooling as GPU densities exceed air-cooling limits. He models multi-year margin expansion as hyperscalers migrate to Vertiv’s architectures, plus premium pricing from record backlog that peers cannot match.

Management’s math backs the bull case. Full-year 2026 EPS guidance implies 58% to 61% growth, and Q3 organic growth was guided to 34% to 36%. CEO Giordano Albertazzi told investors “Demand for AI and general compute continues to intensify… Our pipelines continue to strengthen as the market expands globally.” The range of upside here (69% to 125%) is unusually wide for a large-cap industrial.

The Data Center Power Group Sold Off Together Vertiv did not fall alone. Every major electrical infrastructure name took a hit in the past month, though Vertiv fell hardest among megacaps.

Eaton (NYSE:ETN) is down 11.36% over the past month to $361.88, versus a consensus target of $455.79, or roughly 26% upside. Coverage skews 22 Buy-equivalent, 4 Hold, 1 Strong Sell.

nVent Electric (NYSE:NVT) is off 18.09% to $133.61. The $190.60 target implies roughly 43% upside, with 14 Buy ratings against 1 Strong Sell and no Holds.

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Generac (NYSE:GNRC) is the worst peer performer, down 31.23% to $195.19 despite a Q2 EPS beat of 44.65%. The $293.75 target implies about 50% upside, but sentiment is mixed at 13 Buy, 6 Hold, 1 Strong Sell.

Across the group, Vertiv carries the largest analyst-implied upside by a wide margin when Loop’s $500 case is included. Wall Street treats VRT as the deepest dislocation in the space.

What the Numbers Actually Say Vertiv trades at $222.44 against a consensus target of $376.15, implying roughly 69% upside, with Loop Capital’s Street-high $500 case pushing gains to about 125%. Twenty-six analysts cover the name, and the balance is 3 Strong Buy, 19 Buy, 3 Hold, 0 Sell, 1 Strong Sell.

Performance tells the whipsaw story. Despite the 27% one-month drop, VRT is still up 37.73% year-to-date and 56.47% over the past year. The S&P 500 is up 6.97% year-to-date. Even after the selloff, Vertiv has trounced the index.

The stock now trades at roughly 33 times the midpoint of full-year 2026 EPS guidance. The valuation is still rich, though a real reset from the peak.

Where I Come Down on Vertiv The bull case for Vertiv rests on the AI infrastructure build being a multi-year cycle, EMEA stabilizing, and the record $15 billion backlog converting on schedule. That path leads to Loop Capital’s $500 case and the consensus $376. Margins are expanding, cash flow is real, and management just raised guidance again.

The bear case builds if EMEA weakness spreads, tariff costs erode margins, or the hyperscaler capex cycle cools. At 33 times forward earnings, VRT needs execution. Any timing slippage on backlog conversion punishes the stock disproportionately, as this quarter proved.

My lean is constructive. The peer group sold off together, but Vertiv carries the biggest analyst-implied upside and the strongest secular hook to AI power density. The one-month move looks more like a reset of overheated expectations than a break in the thesis.

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.

IdaCorp (IDA - Free Report) came out with quarterly earnings of $1.79 per share, beating the Zacks Consensus Estimate of $1.75 per share. This compares to earnings of $1.76 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +2.29%. A quarter ago, it was expected that this utility company would post earnings of $1.12 per share when it actually produced earnings of $1.21, delivering a surprise of +8.04%.

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

IdaCorp, which belongs to the Zacks Utility - Electric Power industry, posted revenues of $469.8 million for the quarter ended June 2026, missing the Zacks Consensus Estimate by 1.8%. This compares to year-ago revenues of $450.88 million. The company has not been able to beat consensus revenue estimates over the last four quarters.

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

IdaCorp shares have added about 14.1% since the beginning of the year versus the S&P 500's gain of 6.9%.

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

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

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

Ahead of this earnings release, the estimate revisions trend for IdaCorp was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $2.55 on $569.55 million in revenues for the coming quarter and $6.39 on $1.88 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Utility - Electric Power is currently in the bottom 34% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

PPL (PPL - Free Report) , another stock in the same industry, has yet to report results for the quarter ended June 2026. The results are expected to be released on August 7.

This energy and utility holding company is expected to post quarterly earnings of $0.35 per share in its upcoming report, which represents a year-over-year change of +9.4%. The consensus EPS estimate for the quarter has been revised 0.8% lower over the last 30 days to the current level.

PPL's revenues are expected to be $2.18 billion, up 7.5% from the year-ago quarter.

Exelon (EXC - Free Report) reported $5.97 billion in revenue for the quarter ended June 2026, representing a year-over-year increase of 10%. EPS of $0.43 for the same period compares to $0.39 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $5.66 billion, representing a surprise of +5.47%. The company has not delivered EPS surprise, with the consensus EPS estimate being $0.43.

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.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

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

Operating revenues- PHI: $1.71 billion versus the two-analyst average estimate of $1.61 billion. The reported number represents a year-over-year change of +8.4%.Operating revenues- BGE: $1.22 billion versus $1.05 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +18.4% change.Operating revenues- PECO: $1.06 billion versus the two-analyst average estimate of $1.05 billion. The reported number represents a year-over-year change of +6.2%.Operating revenues- ComEd: $1.99 billion versus the two-analyst average estimate of $1.97 billion. The reported number represents a year-over-year change of +8.1%.Adjusted Operating Earnings (non-GAAP)- ComEd: $249 million versus the two-analyst average estimate of $290.77 million.Adjusted Operating Earnings (non-GAAP)- PHI: $126 million compared to the $146.16 million average estimate based on two analysts.Adjusted Operating Earnings (non-GAAP)- BGE: $70 million versus the two-analyst average estimate of $49.49 million.Adjusted Operating Earnings (non-GAAP)- PECO: $130 million versus the two-analyst average estimate of $122.24 million.View all Key Company Metrics for Exelon here>>>

Shares of Exelon have returned +1.7% over the past month versus the Zacks S&P 500 composite's -1.5% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

APi (APG - Free Report) reported $2.25 billion in revenue for the quarter ended June 2026, representing a year-over-year increase of 13.3%. EPS of $0.44 for the same period compares to $0.39 a year ago.

The reported revenue represents a surprise of +2.49% over the Zacks Consensus Estimate of $2.2 billion. With the consensus EPS estimate being $0.44, the company has not delivered EPS surprise.

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.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

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

Net Revenues- Safety Services: $1.48 billion versus $1.51 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +8.8% change.Net Revenues- Corporate and Eliminations: $-1 million compared to the $-2 million average estimate based on two analysts. The reported number represents a change of 0% year over year.Net Revenues- Specialty Services: $773 million compared to the $696.18 million average estimate based on two analysts. The reported number represents a change of +22.9% year over year.Adjusted EBITDA- Corporate and Eliminations: $-33 million versus $-36.63 million estimated by two analysts on average.View all Key Company Metrics for APi here>>>

Shares of APi have returned -8% over the past month versus the Zacks S&P 500 composite's -1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

Huntington Ingalls (HII - Free Report) came out with quarterly earnings of $5.27 per share, beating the Zacks Consensus Estimate of $3.8 per share. This compares to earnings of $3.86 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +38.68%. A quarter ago, it was expected that this shipbuilder would post earnings of $3.7 per share when it actually produced earnings of $3.79, delivering a surprise of +2.43%.

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

Huntington Ingalls, which belongs to the Zacks Aerospace - Defense industry, posted revenues of $3.42 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 8.74%. This compares to year-ago revenues of $3.08 billion. The company has topped consensus revenue estimates four times over the last four quarters.

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

Huntington Ingalls shares have lost about 17.6% since the beginning of the year versus the S&P 500's gain of 6.9%.

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

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

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

Ahead of this earnings release, the estimate revisions trend for Huntington Ingalls was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $4.53 on $3.28 billion in revenues for the coming quarter and $17.31 on $12.97 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Aerospace - Defense is currently in the top 38% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the same industry, Draganfly Inc. (DPRO - Free Report) , has yet to report results for the quarter ended June 2026.

This company is expected to post quarterly loss of $0.11 per share in its upcoming report, which represents a year-over-year change of +75%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Draganfly Inc.'s revenues are expected to be $3.28 million, up 114.1% from the year-ago quarter.

For the quarter ended June 2026, CRH (CRH - Free Report) reported revenue of $10.78 billion, up 5.6% over the same period last year. EPS came in at $2.21, compared to $1.94 in the year-ago quarter.

The reported revenue represents a surprise of +0.52% over the Zacks Consensus Estimate of $10.72 billion. With the consensus EPS estimate being $1.96, the EPS surprise was +12.76%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

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

Revenue- Americas Materials Solutions: $4.96 billion compared to the $4.94 billion average estimate based on two analysts. The reported number represents a change of +9.9% year over year.Revenue- International Solutions: $3.7 billion versus $3.77 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +4.7% change.Revenue- Americas Building Solutions: $2.12 billion versus the two-analyst average estimate of $2.01 billion. The reported number represents a year-over-year change of -2%.View all Key Company Metrics for CRH here>>>

Shares of CRH have returned -5.2% over the past month versus the Zacks S&P 500 composite's -1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

Madrigal (MDGL - Free Report) came out with a quarterly loss of $1.99 per share versus the Zacks Consensus Estimate of a loss of $2.55. This compares to a loss of $1.9 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +21.96%. A quarter ago, it was expected that this biopharmaceutical company would post a loss of $3.61 per share when it actually produced a loss of $3.25, delivering a surprise of +9.97%.

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

Madrigal, which belongs to the Zacks Medical - Drugs industry, posted revenues of $364.25 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 4.27%. This compares to year-ago revenues of $212.8 million. The company has topped consensus revenue estimates four times over the last four quarters.

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

Madrigal shares have lost about 6.1% since the beginning of the year versus the S&P 500's gain of 6.9%.

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

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

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

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

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is -$1.27 on $392.53 million in revenues for the coming quarter and -$7.45 on $1.49 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Drugs is currently in the top 38% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

One other stock from the same industry, Karyopharm Therapeutics (KPTI - Free Report) , is yet to report results for the quarter ended June 2026.

This pharmaceutical company is expected to post quarterly loss of $1.25 per share in its upcoming report, which represents a year-over-year change of +71.1%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Karyopharm Therapeutics' revenues are expected to be $35.82 million, down 5.6% from the year-ago quarter.

, /PRNewswire/ -- Pomerantz LLP announces that a class action lawsuit has been filed against Primoris Services Corporation ("Primoris" or the "Company") (NYSE: PRIM). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased. 

The class action concerns whether Primoris and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

You have until September 21, 2026, to ask the Court to appoint you as Lead Plaintiff for the class if you purchased or otherwise acquired Primoris securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.

[Click here for information about joining the class action]

On February 23, 2026, Primoris issued a press release reporting its fourth-quarter and full-year 2025 financial results. In the press release, Primoris disclosed increased costs on certain renewable energy projects, more challenging-than-anticipated soil conditions, and margin compression within its Energy segment, acknowledging that these issues adversely affected fourth-quarter profitability despite higher revenue.

On this news, Primoris's stock price fell $13.72 per share, or 8.28%, to close at $151.92 per share on February 24, 2026. 

Then, on May 5, 2026, Primoris issued a press release reporting its financial results for the first quarter of 2026. In the press release, Primoris disclosed additional adverse developments affecting its renewable energy business, including revenue and margin pressure, delayed project starts, and weaker-than-expected first-quarter 2026 results. The Company also reduced its full-year 2026 Adjusted EPS guidance from $5.80-$6.00 to $4.80-$5.00 and lowered its Adjusted EBITDA guidance. 

On this news, Primoris's stock price fell $101.69 per share, or 50.11%, to close at $101.23 per share on May 6, 2026. 

Then, on June 8, 2026, Primoris issued a press release announcing that Anthony Vorderbruggen, the Company's President of Renewables, was departing Primoris, effective immediately. 

On this news, Primoris's stock price fell $18.92 per share, or 15.4%, to close at $103.90 per share on June 9, 2026. 

Finally, on June 22, 2026, Primoris issued a Business Update announcing that, following an internal review supported by an independent third-party industry expert, it had identified substantial challenges, cost overruns, and project delays affecting six renewable energy projects. The Company reduced its full-year 2026 Adjusted EPS guidance to $2.05-$2.60, lowered its Adjusted EBITDA guidance to $275 million-$325 million, projected that 2026 Renewables revenue would decline to approximately $2.1 billion, and announced the resignation of its Chief Operating Officer. 

On this news, Primoris's stock price fell $23.39 per share, or 21.59%, to close at $84.95 per share on June 23, 2026.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com. 

Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980 

SOURCE Pomerantz LLP

The Remitly Global Card combines one-of-a-kind features including our best remittance prices, faster and lower-fee sends, no-fee everyday spending, a bank account for everyone, the ability to hold and move money in fiat currency or USDC, instant transfers between Remitly Global Cardholders, no foreign transaction fees, direct deposit, global ATM access, and access to credit through the Remitly Global Card Membership plan, among other valuable new features for its global customers.

SEATTLE, July 30, 2026 (GLOBE NEWSWIRE) -- Remitly Global, Inc. (NASDAQ: RELY) today introduced the Remitly Global Card, a card built for people whose lives extend across borders. Cardmembers can get paid, spend, save, and send money home from the same account, wherever they happen to be. This launch gives communities who live across borders frictionless access to borrowing, spending, saving, and sending — all from one card.

For more than a decade, millions of customers have trusted Remitly to send money to the people who matter most to them. With the Remitly Global Card, that same trust extends further - to the worker who cannot wait for payday to send money home to their family, the professional living between two countries, the freelancer living in a country with volatile currency swings, and the global nomad without a fixed address.

Unlike traditional debit cards built primarily for domestic banking, the Remitly Global Card is designed for customers whose financial lives span multiple countries - one card plan for wherever life or work takes them. "Our top goal for the Remitly Global Card was for it to disappear into people's everyday lives, so sending money home feels as simple as buying a coffee," said Sebastian J. Gunningham, Chief Executive Officer of Remitly. "Whether you're getting paid in Seattle, sending money to family in Asia, or picking up groceries in Latin America, it's the same card and the same balance, no matter which currency or country you're in. No separate app to spend. No separate account to save. It's one card, and it's yours wherever you go. We're excited to bring it to customers today."

The Remitly Global Card will launch with the following customer features, as available:

Better Rates, Faster Sends. Every transfer sent from an eligible Remitly Global Card automatically unlocks preferred FX rates and faster delivery speeds — no need to shop rates or pick a delivery option, it's already the best one, exclusive to Cardmembers. Cardmembers get default access to the lowest cost, fastest remittance options on Remitly.A No-Fee Card for Everyday Spending. Customers can spend anywhere in the world with no transaction fees, allowing them to keep more of every dollar they earn - whether they're buying groceries, paying bills, or covering everyday purchases.A Bank Account for Everyone. Many of Remitly's customers are underbanked, new to a country, and wary of hidden bank fees. The Remitly Global Card gives them a debit card they can get in minutes without lengthy paperwork or a bank branch visit, opening the door to a financial account many would otherwise struggle to access.A Card and Account Where Money Holds its Value. A large part of the world values the ability to hold their money in digital dollars, where allowed, and the Remitly Global Card is built for that reality. Available today in select locations and expanding globally, it lets eligible customers hold balances in U.S. dollars or USDC instead of a local currency. With funds that can be used directly with the card, customers receive money faster and can choose how and when to convert funds to their local currencies. From a digital wallet, they can tap to pay locally with Apple Pay or Google Pay, shop online, or cover subscriptions billed in U.S. dollars, all from the same card.Instant Money Movement Between Loved Ones. Two customers who each hold an eligible Remitly Global Card, wherever they are in the world, will be able to move money to each other instantly. Whether it's a parent sending an allowance to a child studying abroad or family members splitting a bill across borders, money moves between Remitly Global Cardholders as easily as it would between two accounts at the same bank.No Foreign Transaction Fees. Cardmembers who travel or live across borders can spend with no foreign transaction fees, adding up to real, recurring savings every time they use the card outside their home country.Get Paid to Card. Customers can receive their paycheck by direct deposit straight onto the Remitly Global Card, making it the single account they use to get paid, spend, save, and send.Access to Liquidity. Through the Remitly Global Card Membership plan, eligible customers who need short-term flexibility when timing doesn't line up with a paycheck or an unexpected expense can get access to an open-end line of credit, with no credit history required.Travel eSIM. Remitly Global Card Membership will include a 3GB global travel eSIM, giving cardmembers mobile data the moment they land in a new country — no local SIM card, no roaming fees, no searching for Wi-Fi.Smart Rate. Remitly Global Card Membership will also include Smart Rate, which will protect cardmembers from missing out on a better deal: if the exchange rate improves within 24 hours of a send funded by the Remitly Global Card, Remitly credits the difference back automatically. Initial availability will be in the U.S. and select international markets. Over the coming quarters, Remitly intends to expand the Global Card to the UK, Europe, and 10 additional markets, enabling seamless direct payouts for global workers, broader multi-currency holding capabilities for consumers and businesses worldwide, and additional borrowing products designed to help consumers build credit in their new countries.

Remitly Global Card is beginning a phased rollout to eligible, invited customers today, with expanded regional capabilities rolling out globally through the remainder of 2026.

To learn more, visit remitly.com/cards.

About Remitly: Remitly is a trusted provider of financial services that transcend borders. With a footprint spanning more than 175 countries, Remitly has built one of the world’s leading global money movement platforms, trusted by millions of customers. Remitly continues to evolve beyond a remittance company into a diversified, cross-border financial services provider, serving both consumers and businesses across a growing set of use cases.

Contacts

Media Inquiries:
[email protected] 

Investor Relations:
[email protected] 

Photos accompanying this announcement are available at 

https://www.globenewswire.com/NewsRoom/AttachmentNg/033a8569-fbdc-4ec6-829b-742975baf831

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Blue Owl Capital Inc. (OWL - Free Report) came out with quarterly earnings of $0.22 per share, in line with the Zacks Consensus Estimate . This compares to earnings of $0.21 per share a year ago. These figures are adjusted for non-recurring items.

A quarter ago, it was expected that this company would post earnings of $0.19 per share when it actually produced earnings of $0.19, delivering no surprise.

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

Blue Owl Capital, which belongs to the Zacks Financial - Investment Management industry, posted revenues of $693.56 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 1.12%. This compares to year-ago revenues of $646.05 million. The company has topped consensus revenue estimates three times over the last four quarters.

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

Blue Owl Capital shares have lost about 36.1% since the beginning of the year versus the S&P 500's gain of 6.9%.

What's Next for Blue Owl Capital?While Blue Owl Capital has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

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

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

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

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.23 on $709.15 million in revenues for the coming quarter and $0.87 on $2.83 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Financial - Investment Management is currently in the top 23% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the same industry, PennantPark (PFLT - Free Report) , has yet to report results for the quarter ended June 2026. The results are expected to be released on August 10.

This investment company is expected to post quarterly earnings of $0.27 per share in its upcoming report, which represents a year-over-year change of +8%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

PennantPark's revenues are expected to be $67.51 million, up 6.3% from the year-ago quarter.

Piper Sandler Companies (PIPR - Free Report) came out with quarterly earnings of $1.04 per share, beating the Zacks Consensus Estimate of $0.85 per share. This compares to earnings of $0.74 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +22.35%. A quarter ago, it was expected that this company would post earnings of $0.85 per share when it actually produced earnings of $1, delivering a surprise of +17.65%.

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

PIPER SANDLR CP, which belongs to the Zacks Financial - Miscellaneous Services industry, posted revenues of $491.14 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 14.08%. This compares to year-ago revenues of $405.39 million. The company has topped consensus revenue estimates four times over the last four quarters.

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

PIPER SANDLR CP shares have lost about 13.1% since the beginning of the year versus the S&P 500's gain of 6.9%.

What's Next for PIPER SANDLR CP?While PIPER SANDLR CP has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

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

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

Ahead of this earnings release, the estimate revisions trend for PIPER SANDLR CP was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.15 on $515.93 million in revenues for the coming quarter and $4.56 on $2.01 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Financial - Miscellaneous Services is currently in the bottom 28% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Webull Corporation (BULL - Free Report) , another stock in the same industry, has yet to report results for the quarter ended June 2026.

This company is expected to post quarterly earnings of $0.03 per share in its upcoming report, which represents a year-over-year change of +102.7%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Webull Corporation's revenues are expected to be $175 million, up 33.1% from the year-ago quarter.

The market expects Reinsurance Group (RGA - Free Report) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.

The earnings report, which is expected to be released on August 6, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.

While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.

Zacks Consensus EstimateThis reinsurance company is expected to post quarterly earnings of $6.51 per share in its upcoming report, which represents a year-over-year change of +37.9%.

Revenues are expected to be $6.65 billion, up 17.8% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 0.12% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).

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

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Reinsurance Group?For Reinsurance Group, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -0.58%.

On the other hand, the stock currently carries a Zacks Rank of #3.

So, this combination makes it difficult to conclusively predict that Reinsurance Group will beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Reinsurance Group would post earnings of $6.19 per share when it actually produced earnings of $6.97, delivering a surprise of +12.60%.

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

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Reinsurance Group doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

An Industry Player's Expected ResultsPrimerica (PRI - Free Report) , another stock in the Zacks Insurance - Life Insurance industry, is expected to report earnings per share of $5.96 for the quarter ended June 2026. This estimate points to a year-over-year change of +9.2%. Revenues for the quarter are expected to be $872.5 million, up 9.6% from the year-ago quarter.

Over the last 30 days, the consensus EPS estimate for Primerica has been revised 1% up to the current level. Nevertheless, the company now has an Earnings ESP of -0.56%, reflecting a lower Most Accurate Estimate.

This Earnings ESP, combined with its Zacks Rank #3 (Hold), makes it difficult to conclusively predict that Primerica will beat the consensus EPS estimate. The company beat consensus EPS estimates in each of the trailing four quarters.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

Board declares third quarter dividend on common and preferred stock

, /PRNewswire/ -- Cullen/Frost Bankers, Inc. (NYSE:CFR) today reported second quarter 2026 results. Net income available to common shareholders for the second quarter of 2026 was $170.4 million, compared to $155.3 million for the second quarter of 2025. On a per-share basis, net income available to common shareholders for the second quarter of 2026 was $2.70 per diluted common share, compared to $2.39 per diluted common share reported a year earlier. Returns on average assets and average common equity were 1.30 percent and 15.41 percent, respectively, for the second quarter of 2026, compared to 1.22 percent and 15.64 percent, respectively, for the same period a year earlier.

For the second quarter of 2026, net interest income on a taxable-equivalent basis was $470.1 million, up 4.3 percent compared to the same quarter in 2025. Average loans for the second quarter of 2026 increased $1.6 billion, or 7.4 percent, to $22.6 billion, from the $21.1 billion reported for the second quarter a year earlier, and increased $610.8 million, or 2.8 percent, compared to the first quarter of 2026. Average deposits for the second quarter increased $859.6 million, or 2.1 percent, to $42.6 billion, compared to the $41.8 billion reported for last year's second quarter, and increased $394.1 million, or 0.9 percent, compared to the first quarter of 2026.

"The second quarter was a period of sustained, solid and balanced growth for our company," said Cullen/Frost Chairman and CEO Phil Green. "During the quarter, we saw acceleration in the growth of non-interest-bearing deposits, interest-bearing deposits, and loans. Our second quarter earnings per share increased by 13% compared to the same period last year. We opened four new financial centers across the Dallas, Fort Worth, Austin and San Antonio regions. Just last week, we opened a new location in Richardson in north Dallas County, bringing us to a total of seven new locations opened so far this year.

"Our strategy is consistent and our results speak for themselves," Green said. "Frost bankers continue to compete and win in an intensely competitive environment, and growth trends in our markets continue to be strong."

For the first six months of 2026, net income available to common shareholders was $339.7 million, up 11.5 percent compared to $304.6 million for the first six months of 2025. On a per-share basis, net income available to common shareholders for the first six months of 2026 was $5.35, up 14.1 percent compared to $4.69 in the year-earlier period. Returns on average assets and average common equity for the first six months of 2026 were 1.31 percent and 15.28 percent, respectively, compared to 1.20 percent and 15.59 percent, respectively, for the same period in 2025.

Noted financial data for the second quarter of 2026 follows:

The Common Equity Tier 1, Tier 1 and Total Risk-Based Capital Ratios at the end of the second quarter of 2026 were 13.95 percent, 14.38 percent and 15.74 percent, respectively, and continue to be in excess of well-capitalized levels and exceed Basel III minimum requirements. During the second quarter, our base of customer households continued to grow. Total households, including consumer and commercial customers, grew by 5.9 percent from June, 2025 to June, 2026. Net interest income on a taxable-equivalent basis was $470.1 million for the second quarter of 2026, an increase of 4.3 percent, compared to $450.6 million for the second quarter of 2025. Net interest margin was 3.75 percent for the second quarter of 2026 compared to 3.67 percent for the second quarter of 2025 and 3.74 percent for the first quarter of 2026. Non-interest income for the second quarter of 2026 totaled $128.3 million, an increase of $11.0 million, or 9.4 percent, from the $117.3 million reported for the second quarter of 2025. Trust and investment management fees increased $4.0 million, or 9.1 percent, compared to the second quarter of 2025. The increase in trust and investment management fees during the second quarter was primarily related to increases in investment management fees (up $4.2 million). Investment management fees are generally based on the market value of assets within customer accounts and are thus impacted by price movements in the equity and bond markets. Service charges on deposit accounts increased $5.0 million, or 17.2 percent, compared to the second quarter of 2025, driven in part by growth in our base of customers and growth in customer transaction volumes. Other non-interest income increased $974,000, or 8.9 percent, compared to the second quarter of 2025. The increase during the second quarter was primarily related to increases in sundry and other miscellaneous income (up $1.5 million), partly offset by a decrease in public finance underwriting fees (down $425,000). The primary driver of the $1.5 million increase in sundry and other miscellaneous income was $2.2 million of one-time COVID payroll tax refunds that were received during the second quarter. Non-interest expense was $361.7 million for the second quarter of 2026, up $14.6 million, or 4.2 percent, compared to the $347.1 million reported for the second quarter a year earlier. Salaries and wages expense increased $10.8 million, or 6.7 percent, compared to the second quarter of 2025. The increase in salaries and wages was primarily related to increases in salaries due to annual merit and market increases, as well as growth in the number of employees. Employee benefits expense increased by $2.3 million, or 7.1 percent, compared to the second quarter of 2025. The increase in employee benefits expense was primarily related to increases in medical/dental benefits expense (up $1.6 million) and payroll taxes (up $530,000). Technology, furniture, and equipment expense increased $2.0 million, or 4.9 percent, compared to the second quarter of 2025. The increase was primarily related to increased cloud services expense (up $1.0 million) and service contracts expense (up $583,000). Other non-interest expense decreased $854,000, or 1.2 percent, compared to the second quarter of 2025. The decrease included decreases in sundry and other miscellaneous expense (down $1.6 million), advertising/promotions expense (down $853,000), and business development expense (down $638,000); among other things. For the second quarter of 2026, the company reported a credit loss expense of $9.8 million, and reported net charge-offs of $9.5 million. This compares to a credit loss expense of $6.7 million and net charge-offs of $5.7 million for the first quarter of 2026 and a credit loss expense of $13.1 million and net charge-offs of $11.2 million for the second quarter of 2025. The allowance for credit losses on loans as a percentage of total loans was 1.23 percent at June 30, 2026, compared to 1.28 percent at the end of the first quarter of 2026 and 1.31 percent at the end of the second quarter of 2025. Non-accrual loans were $112.7 million at the end of the second quarter of 2026, compared to $72.4 million at the end of the first quarter of 2026 and $62.4 million at the end of the second quarter of 2025. During the second quarter of 2026, we repurchased 654,955 shares at a total cost of $90.0 million under our board-authorized stock repurchase plan. As of the end of the second quarter, we had $140.0 million remaining under our current $300 million repurchase authorization, which expires in January of 2027. The Cullen/Frost board declared a third-quarter cash dividend of $1.03 per common share. The dividend on common stock is payable September 15, 2026 to shareholders of record on August 31 of this year. The board of directors also declared a cash dividend of $11.125 per share of Series B Preferred Stock (or $0.278125 per depositary share). The depositary shares representing the Series B Preferred Stock are traded on the NYSE under the symbol "CFR PrB." The Series B Preferred Stock dividend is payable September 15, 2026 to shareholders of record on August 31 of this year.

Cullen/Frost Bankers, Inc. will host a conference call on Thursday, July 30, 2026, at 1 p.m. Central Time (CT) to discuss the results for the quarter. The media and other interested parties are invited to access the call in a "listen only" mode at 1-877-709-8150 or via webcast on our investor relations website linked below. Playback of the conference call will be available after 5 p.m. CT on the day of the call until midnight Sunday, August 2, 2026 at 1-877-660-6853 with Conference ID # of 13761733. A replay of the call will also be available by webcast at the URL listed below after 5 p.m. CT on the day of the call.

Cullen/Frost investor relations website: https://investor.frostbank.com/ 

Cullen/Frost Bankers, Inc. (NYSE: CFR) is a financial holding company, headquartered in San Antonio, with $53.9 billion in assets at June 30, 2026. One of the 50 largest U.S. banks, Frost provides a wide range of banking, investments and insurance services to businesses and individuals across Texas in the Austin, Dallas, Fort Worth, Gulf Coast, Houston, Permian Basin, Rio Grande Valley, and San Antonio regions. Founded in 1868, Frost has helped clients with their financial needs during three centuries. Additional information is available at www.frostbank.com.

Forward-Looking Statements and Factors that Could Affect Future Results

Certain statements contained in this Earnings Release that are not statements of historical fact constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"), notwithstanding that such statements are not specifically identified as such. In addition, certain statements may be contained in our future filings with the SEC, in press releases, and in oral and written statements made by us or with our approval that are not statements of historical fact and constitute forward-looking statements within the meaning of the Act. Examples of forward-looking statements include, but are not limited to: (i) projections of revenues, expenses, income or loss, earnings or loss per share, the payment or nonpayment of dividends, capital structure and other financial items; (ii) statements of plans, objectives and expectations of Cullen/Frost or its management or Board of Directors, including those relating to products, services or operations; (iii) statements of future economic performance; and (iv) statements of assumptions underlying such statements. Words such as "believes," "anticipates," "expects," "intends," "targeted," "continue," "remain," "will," "should," "may," and other similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements.

Forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from those in such statements. Factors that could cause actual results to differ from those discussed in the forward-looking statements include, but are not limited to:

The effects of and changes in trade and monetary and fiscal policies and laws, including the interest rate policies of the Federal Reserve Board and the implementation of tariffs and other protectionist trade policies. Inflation, interest rate, securities market, and monetary fluctuations. Local, regional, national, and international economic conditions and the impact they may have on us and our customers and our assessment of that impact. Changes in the financial performance and/or condition of our borrowers. Changes in the mix of loan geographies, sectors and types or the level of non-performing assets and charge-offs. Changes in estimates of future credit loss reserve requirements based upon the periodic review thereof under relevant regulatory and accounting requirements. Changes in our liquidity position. Impairment of our goodwill or other intangible assets. The timely development and acceptance of new products and services and perceived overall value of these products and services by users. Changes in consumer spending, borrowing, and saving habits. Greater than expected costs or difficulties related to the integration of new products and lines of business. Technological changes, including advances in artificial intelligence and quantum computing. The cost and effects of cyber incidents or other failures, interruptions, or security breaches of our systems or those of our customers or third-party providers. Acquisitions and integration of acquired businesses. Changes in the reliability of our vendors, internal control systems or information systems. Our ability to increase market share and control expenses. Our ability to attract and retain qualified employees. Changes in our organization, compensation, and benefit plans. The soundness of other financial institutions. Volatility and disruption in national and international financial and commodity markets. Changes in the competitive environment in our markets and among banking organizations and other financial service providers. Government intervention in the U.S. financial system. Political or economic instability. Acts of God or of war or terrorism. The potential impact of climate change. The impact of pandemics, epidemics, or any other health-related crisis. The costs and effects of legal and regulatory developments, the resolution of legal proceedings or regulatory or other governmental inquiries, the results of regulatory examinations or reviews and the ability to obtain required regulatory approvals. The effect of changes in laws and regulations (including laws and regulations concerning taxes, banking, securities, and insurance) and their application with which we and our subsidiaries must comply. The effect of changes in accounting policies and practices, as may be adopted by the regulatory agencies, as well as the Public Company Accounting Oversight Board, the Financial Accounting Standards Board and other accounting standard setters. Our success at managing the risks involved in the foregoing items. In addition, recent military conflict involving the U.S. and Iran, including direct military actions, attacks affecting commercial shipping in and around the Strait of Hormuz, and subsequent retaliatory military strikes, has contributed to heightened geopolitical uncertainty, increased volatility in global financial markets, and significant fluctuations in energy and commodity prices. While diplomatic communications and negotiations may continue, recent statements by U.S. and Iranian officials, including indications that the previously announced ceasefire framework is no longer in effect, have increased the risk of further military escalation and broader regional instability. Ongoing developments in the Middle East, including potential disruptions to maritime trade routes and energy infrastructure, could adversely affect global supply chains, inflation expectations, economic activity, and market conditions. The timing, magnitude, duration, and geographic scope of any further conflict remain highly uncertain and may evolve rapidly in response to military actions, diplomatic developments, government policy decisions, sanctions, and market reactions. Heightened geopolitical uncertainty and volatility in energy markets may influence monetary policy decisions, interest-rate expectations, funding markets, liquidity conditions, foreign-exchange markets, and investor risk sentiment. These factors could adversely affect our funding profile; customer and counterparty credit quality, particularly in sectors sensitive to energy prices, global trade, transportation, manufacturing, and broader economic cycles; and the market value of certain financial instruments. Prolonged market volatility, additional military escalation involving the United States, Iran, or other regional actors, disruptions to global energy supplies or shipping lanes, expanded sanctions, or a deterioration in global economic conditions could negatively impact economic growth, increase borrower stress, reduce business activity, and contribute to higher credit losses and operational risks, including cyber-related incidents, any of which could have a material adverse effect on our business, financial condition, results of operations, and prospects. We will continue to monitor geopolitical developments and assess their potential impact on our customers, operations, liquidity position, capital levels, market exposures, and overall risk profile, and we may adjust our risk management, liquidity management, capital planning, and business continuity strategies as appropriate.

Furthermore, financial markets, international relations, and global supply chains continue to be affected by evolving U.S. trade policies and practices. While the U.S. Supreme Court's February 20, 2026 ruling that the International Emergency Economic Powers Act ("IEEPA") does not authorize presidential tariff authority invalidated certain tariffs previously imposed under IEEPA, uncertainty remains regarding tariff refunds, related legal and administrative proceedings, and the scope, duration, and economic impact of replacement or additional trade measures adopted under other U.S. trade laws. Ongoing changes in U.S. trade policy, including the imposition, modification, suspension, or expansion of tariffs and other trade restrictions, may affect customer cash flows, business confidence, capital investment decisions, supply chain strategies, commodity prices, inflation expectations, and market volatility. These developments may increase our exposure to operational, credit, market, liquidity, and compliance risks. Customers with significant exposure to international trade, manufacturing, transportation, agriculture, retail, or other sectors sensitive to global trade and supply chain conditions may experience financial stress, reduced profitability, or weakened operating performance. Trade policy developments may also contribute to volatility in interest rates, foreign exchange markets, and asset valuations. If these developments adversely affect borrower financial condition, market stability, economic growth, or broader business activity, they could have a material adverse effect on our business, financial condition, results of operations, and prospects. We will continue to monitor trade policy developments and adjust our risk management, liquidity management, and capital planning strategies as appropriate.

Forward-looking statements speak only as of the date on which such statements are made. We do not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events.

Cullen/Frost Bankers, Inc.

CONSOLIDATED FINANCIAL SUMMARY (UNAUDITED)

(In thousands, except per share amounts)

2026

2025

2nd Qtr

1st Qtr

4th Qtr

3rd Qtr

2nd Qtr

CONDENSED INCOME STATEMENTS

Net interest income

$ 447,728

$ 438,522

$ 448,707

$ 441,618

$ 429,604

Net interest income (1)

470,066

460,792

471,218

463,667

450,558

Credit loss expense

9,767

6,745

11,224

6,779

13,129

Non-interest income:

Trust and investment management fees

47,643

47,957

45,651

44,846

43,669

Service charges on deposit accounts

34,177

32,157

32,360

31,440

29,151

Insurance commissions and fees

14,166

22,075

15,180

15,424

13,879

Interchange and card transaction fees

6,546

6,532

6,290

5,547

5,619

Other charges, commissions, and fees

13,787

13,268

15,228

14,730

13,967

Net gain (loss) on securities transactions

—

—

(836)

—

—

Other

11,962

14,326

18,291

13,660

10,988

  Total non-interest income

128,281

136,315

132,164

125,647

117,273

Non-interest expense:

Salaries and wages

172,955

166,190

182,486

169,155

162,149

Employee benefits

35,156

44,656

36,653

34,465

32,826

Net occupancy

35,223

34,753

34,341

34,682

34,640

Technology, furniture, and equipment

42,564

41,674

41,575

43,479

40,572

Deposit insurance

6,305

7,203

(1,350)

6,328

6,590

Other

69,497

71,210

77,963

64,369

70,351

  Total non-interest expense

361,700

365,686

371,668

352,478

347,128

Income before income taxes

204,542

202,406

197,979

208,008

186,620

Income taxes

32,483

31,419

31,727

33,628

29,617

Net income

172,059

170,987

166,252

174,380

157,003

Preferred stock dividends

1,669

1,669

1,669

1,668

1,669

Net income available to common shareholders

$ 170,390

$ 169,318

$ 164,583

$ 172,712

$ 155,334

PER COMMON SHARE DATA

Earnings per common share - basic

$       2.70

$       2.65

$       2.56

$       2.67

$       2.39

Earnings per common share - diluted

2.70

2.65

2.56

2.67

2.39

Cash dividends per common share

1.03

1.00

1.00

1.00

1.00

Book value per common share at end of quarter

72.04

69.83

69.96

67.64

63.04

OUTSTANDING COMMON SHARES

Period-end common shares

62,149

62,797

63,287

63,801

64,319

Weighted-average common shares - basic

62,455

63,101

63,588

64,080

64,300

Dilutive effect of stock compensation

—

—

16

41

52

Weighted-average common shares - diluted

62,455

63,101

63,604

64,121

64,352

SELECTED ANNUALIZED RATIOS

Return on average assets

1.30 %

1.32 %

1.22 %

1.32 %

1.22 %

Return on average common equity

15.41

15.15

14.80

16.72

15.64

Net interest income to average earning assets

3.75

3.74

3.66

3.69

3.67

(1) Taxable-equivalent basis assuming a 21% tax rate.

Cullen/Frost Bankers, Inc.

CONSOLIDATED FINANCIAL SUMMARY (UNAUDITED)

2026

2025

2nd Qtr

1st Qtr

4th Qtr

3rd Qtr

2nd Qtr

BALANCE SHEET SUMMARY

($ in millions)

Average Balance:

Loans

$   22,622

$   22,011

$   21,661

$   21,452

$   21,063

Earning assets

49,082

48,628

50,033

48,492

47,664

Total assets

52,626

52,122

53,507

51,911

51,191

Non-interest-bearing demand deposits

14,027

13,944

14,268

13,839

13,788

Interest-bearing deposits

28,592

28,282

29,072

28,232

27,972

Total deposits

42,620

42,226

43,340

42,071

41,760

Shareholders' equity

4,581

4,677

4,558

4,243

4,129

Period-End Balance:

Loans

$   22,976

$   22,432

$   21,892

$   21,446

$   21,254

Earning assets

50,260

49,172

49,524

49,147

47,756

Total assets

53,881

52,725

53,041

52,533

51,409

Total deposits

43,334

42,836

42,918

42,517

41,684

Shareholders' equity

4,623

4,531

4,573

4,461

4,200

Adjusted shareholders' equity (1)

5,474

5,454

5,416

5,385

5,341

ASSET QUALITY

($ in thousands)

Allowance for credit losses on loans:

$ 283,712

$ 286,215

$ 281,495

$ 280,221

$ 277,803

As a percentage of period-end loans

1.23 %

1.28 %

1.29 %

1.31 %

1.31 %

Net charge-offs:

$     9,527

$     5,741

$     5,843

$     6,589

$   11,151

Annualized as a percentage of average loans

0.17 %

0.11 %

0.11 %

0.12 %

0.21 %

Non-accrual loans/loans held for sale:

$ 112,717

$   72,350

$   70,482

$   44,778

$   62,393

As a percentage of total loans and loans held for sale

0.49 %

0.32 %

0.32 %

0.21 %

0.29 %

As a percentage of total assets

0.21

0.14

0.13

0.09

0.12

CONSOLIDATED CAPITAL RATIOS

Common Equity Tier 1 Risk-Based Capital Ratio

13.95 %

14.07 %

14.06 %

14.14 %

13.98 %

Tier 1 Risk-Based Capital Ratio

14.38

14.51

14.50

14.59

14.43

Total Risk-Based Capital Ratio

15.74

15.89

15.95

16.04

15.88

Leverage Ratio

9.06

9.13

8.80

9.00

8.98

Equity to Assets Ratio (period-end)

8.58

8.59

8.62

8.49

8.17

Equity to Assets Ratio (average)

8.71

8.97

8.52

8.17

8.07

(1) Shareholders' equity excluding accumulated other comprehensive income (loss).

Cullen/Frost Bankers, Inc.

CONSOLIDATED FINANCIAL SUMMARY (UNAUDITED)

(In thousands, except per share amounts)

Six Months Ended

June 30,

2026

2025

CONDENSED INCOME STATEMENTS

Net interest income

886,250

845,824

Net interest income (1)

930,858

886,963

Credit loss expense

16,512

26,199

Non-interest income:

Trust and investment management fees

95,600

86,600

Service charges on deposit accounts

66,334

57,772

Insurance commissions and fees

36,241

34,898

Interchange and card transaction fees

13,078

11,021

Other charges, commissions and fees

27,055

27,553

Net gain (loss) on securities transactions

—

(14)

Other

26,288

23,454

  Total non-interest income

264,596

241,284

Non-interest expense:

Salaries and wages

339,145

323,006

Employee benefits

79,812

74,983

Net occupancy

69,976

67,917

Technology, furniture and equipment

84,238

80,690

Deposit insurance

13,508

13,774

Other

140,707

134,824

  Total non-interest expense

727,386

695,194

Income before income taxes

406,948

365,715

Income taxes

63,902

57,790

Net income

343,046

307,925

Preferred stock dividends

3,338

3,338

Net income available to common shareholders

$ 339,708

$ 304,587

PER COMMON SHARE DATA

Earnings per common share - basic

$       5.35

$       4.69

Earnings per common share - diluted

5.35

4.69

Cash dividends per common share

$       2.03

$       1.95

Book value per common share at end of quarter

72.04

63.04

OUTSTANDING COMMON SHARES

Period-end common shares

62,149

64,319

Weighted-average common shares - basic

62,776

64,278

Dilutive effect of stock compensation

—

62

Weighted-average common shares - diluted

62,776

64,340

SELECTED ANNUALIZED RATIOS

Return on average assets

1.31 %

1.20 %

Return on average common equity

15.28

15.59

Net interest income to average earning assets

3.75

3.63

(1) Taxable-equivalent basis assuming a 21% tax rate.

Cullen/Frost Bankers, Inc.

CONSOLIDATED FINANCIAL SUMMARY (UNAUDITED)

As of or for the

Six Months Ended

June 30,

2026

2025

BALANCE SHEET SUMMARY

($ in millions)

Average Balance:

Loans

$   22,318

$   20,926

Earning assets

48,856

47,544

Total assets

52,373

51,064

Non-interest-bearing demand deposits

13,986

13,793

Interest-bearing deposits

28,438

27,916

Total deposits

42,424

41,709

Shareholders' equity

4,629

4,085

Period-End Balance:

Loans

$   22,976

$   21,254

Earning assets

50,260

47,756

Total assets

53,881

51,409

Total deposits

43,334

41,684

Shareholders' equity

4,623

4,200

Adjusted shareholders' equity (1)

5,474

5,341

ASSET QUALITY

($ in thousands)

Allowance for credit losses on loans:

$ 283,712

$ 277,803

As a percentage of period-end loans

1.23 %

1.31 %

Net charge-offs:

15,268

20,842

Annualized as a percentage of average loans

0.14 %

0.20 %

Non-accrual loans/loans held for sale:

$ 112,717

$   62,393

As a percentage of total loans and loans held for sale

0.49 %

0.29 %

As a percentage of total assets

0.21 %

0.12

CONSOLIDATED CAPITAL RATIOS

Common Equity Tier 1 Risk-Based Capital Ratio

13.95 %

13.98 %

Tier 1 Risk-Based Capital Ratio

14.38

14.43

Total Risk-Based Capital Ratio

15.74

15.88

Leverage Ratio

9.06

8.98

Equity to Assets Ratio (period-end)

8.58

8.17

Equity to Assets Ratio (average)

8.84

8.00

(1) Shareholders' equity excluding accumulated other comprehensive income (loss).

Cullen/Frost Bankers, Inc.

TAXABLE-EQUIVALENT YIELD/COST AND AVERAGE BALANCES (UNAUDITED)

2026

2025

2nd Qtr

1st Qtr

4th Qtr

3rd Qtr

2nd Qtr

TAXABLE-EQUIVALENT YIELD/COST(1)

Earning Assets:

Interest-bearing deposits

3.65 %

3.64 %

3.93 %

4.36 %

4.41 %

Federal funds sold

3.97

3.97

4.28

4.74

4.71

Resell agreements

—

4.06

4.13

4.58

4.59

Securities(2)

3.96

3.85

3.82

3.85

3.79

Loans, net of unearned discounts

6.17

6.23

6.43

6.61

6.60

Total earning assets

4.92

4.88

4.94

5.11

5.07

Interest-Bearing Liabilities:

Interest-bearing deposits:

Savings and interest checking

0.15 %

0.16 %

0.19 %

0.24 %

0.24 %

Money market deposit accounts

1.92

1.88

2.08

2.28

2.28

Time accounts

3.24

3.14

3.45

3.79

3.86

  Total interest-bearing deposits

1.61

1.55

1.75

1.94

1.93

Total deposits

1.08

1.04

1.17

1.30

1.29

Federal funds purchased

3.66

3.62

3.94

4.34

4.37

Repurchase agreements

2.65

2.70

2.87

3.17

3.23

Junior subordinated deferrable interest debentures

5.60

5.63

6.05

6.30

6.30

Subordinated notes payable and other notes

4.69

4.69

4.69

4.69

4.69

Total interest-bearing liabilities

1.77

1.72

1.92

2.13

2.12

Net interest spread

3.15

3.16

3.02

2.98

2.95

Net interest income to total average earning assets

3.75

3.74

3.66

3.69

3.67

AVERAGE BALANCES

($ in millions)

Assets:

Interest-bearing deposits

$   5,808

$   6,752

$   8,431

$   6,816

$   6,169

Federal funds sold

4

4

2

3

8

Resell agreements

—

8

10

10

23

Securities - carrying value(2)

20,648

19,853

19,929

20,213

20,401

Securities - amortized cost(2)

21,766

20,825

20,995

21,622

21,864

Loans, net of unearned discount

22,622

22,011

21,661

21,452

21,063

Total earning assets

$ 49,082

$ 48,628

$ 50,033

$ 48,492

$ 47,664

Liabilities:

Interest-bearing deposits:

Savings and interest checking

$   9,938

$ 10,036

$   9,899

$   9,689

$   9,920

Money market deposit accounts

12,145

11,900

12,619

11,817

11,518

Time accounts

6,509

6,346

6,554

6,726

6,534

  Total interest-bearing deposits

28,592

28,282

29,072

28,232

27,972

Total deposits

42,620

42,226

43,340

42,071

41,760

Federal funds purchased

24

24

27

29

25

Repurchase agreements

4,379

4,160

4,586

4,593

4,250

Junior subordinated deferrable interest debentures

123

123

123

123

123

Subordinated notes payable and other notes

100

100

100

100

100

Total interest-bearing funds

$ 33,219

$ 32,689

$ 33,909

$ 33,077

$ 32,471

(1) Taxable-equivalent basis assuming a 21% tax rate.

(2) Average securities include unrealized gains and losses on securities available for sale while yields are based on average amortized cost.

A.B. Mendez
Investor Relations
210.220.5234

or

Bill Day
Media Relations
210.220.5427

SOURCE Cullen/Frost Bankers, Inc.

The market expects Installed Building Products (IBP - Free Report) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.

The earnings report, which is expected to be released on August 6, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.

While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.

Zacks Consensus EstimateThis residential insulation installer is expected to post quarterly earnings of $2.57 per share in its upcoming report, which represents a year-over-year change of -12.9%.

Revenues are expected to be $740.43 million, down 2.6% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 0.71% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).

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

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Installed Building Products?For Installed Building Products, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -0.39%.

On the other hand, the stock currently carries a Zacks Rank of #2.

So, this combination makes it difficult to conclusively predict that Installed Building Products will beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Installed Building Products would post earnings of $2.09 per share when it actually produced earnings of $1.79, delivering a surprise of -14.35%.

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

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Installed Building Products doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

An Industry Player's Expected ResultsKnife River (KNF - Free Report) , another stock in the Zacks Building Products - Miscellaneous industry, is expected to report earnings per share of $1.11 for the quarter ended June 2026. This estimate points to a year-over-year change of +24.7%. Revenues for the quarter are expected to be $923.71 million, up 10.8% from the year-ago quarter.

Over the last 30 days, the consensus EPS estimate for Knife River has been revised 3.1% up to the current level. Nevertheless, the company now has an Earnings ESP of +1.57%, reflecting a higher Most Accurate Estimate.

This Earnings ESP, combined with its Zacks Rank #3 (Hold), suggests that Knife River will most likely beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates three times.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

KKR & Co. Inc. (KKR - Free Report) came out with quarterly earnings of $1.63 per share, beating the Zacks Consensus Estimate of $1.42 per share. This compares to earnings of $1.18 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +14.79%. A quarter ago, it was expected that this company would post earnings of $1.28 per share when it actually produced earnings of $1.39, delivering a surprise of +8.59%.

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

KKR & Co., which belongs to the Zacks Financial - Investment Management industry, posted revenues of $1.73 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 13.47%. This compares to year-ago revenues of $1.28 billion. The company has topped consensus revenue estimates three times over the last four quarters.

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

KKR & Co. shares have lost about 22.1% since the beginning of the year versus the S&P 500's gain of 6.9%.

What's Next for KKR & Co.?While KKR & Co. has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

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

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

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

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.57 on $1.7 billion in revenues for the coming quarter and $6.11 on $6.28 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Financial - Investment Management is currently in the top 23% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

One other stock from the same industry, Great Elm Capital (GECC - Free Report) , is yet to report results for the quarter ended June 2026.

This company is expected to post quarterly earnings of $0.34 per share in its upcoming report, which represents a year-over-year change of -33.3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Great Elm Capital's revenues are expected to be $11.13 million, down 22.1% from the year-ago quarter.

Anglo American plc (NGLOY) Q2 2026 Earnings Call July 30, 2026 4:00 AM EDT

Company Participants

Stuart Chambers
Duncan Wanblad - CEO & Executive Director
John Heasley - CFO & Executive Director
Tyler Broda - Group Head of Investor Relations

Conference Call Participants

Matthew Greene - Goldman Sachs Group, Inc., Research Division
Maxime Kogge - ODDO BHF Corporate & Markets, Research Division
Ian Rossouw - Barclays Bank PLC, Research Division
Alain Gabriel - Morgan Stanley, Research Division
Myles Allsop - UBS Investment Bank, Research Division
Anthony Robson - Global Mining Research Pty Limited
Felicity Robson - BofA Securities, Research Division
Richard Hatch - Joh. Berenberg, Gossler & Co. KG, Research Division
Liam Fitzpatrick - Deutsche Bank AG, Research Division
Christopher LaFemina - Jefferies LLC, Research Division
Grant Sporre - Bloomberg Intelligence
Alan Spence - BNP Paribas, Research Division
Patrick Mann - Investec Bank plc, Research Division
Benjamin Davis - RBC Capital Markets, Research Division

Presentation

Stuart Chambers

Okay. Well, good morning, everyone, and welcome to our half year results. And as some of you know by now, over the years, my tradition is to kick off the full year results. I don't normally come at half year, but there are a couple of reasons why I wanted to introduce today, and I'll come back to those. But as ever, let's start with safety. And I must say how delighted I am and all of the Board are for the excellent progress that we're making and the safety improvements, which are -- have been coming through in the last couple of years quite strongly. I know this will continue to be at the top of mind of Duncan and his team as he moves on and as he takes over indeed the helm at Anglo Teck in due course.

I'm also very pleased, as I hope you are, that with the solid performance of the current business

SummaryCompaniesJana wants to see a formal and comprehensive review at FiservFund blames board for failing to attract and retain talentJana dials up pressure after months of behind-the-scenes talksNEW YORK, July 30 (Reuters) - Activist investor Jana Partners is ratcheting up ​pressure on payments company Fiserv (FISV.O), opens new tab, pushing it to launch a formal review of its entire portfolio rather ‌than sell assets piecemeal, according to a letter seen by Reuters on Thursday.

The New York-based hedge fund, which has been invested in Fiserv since late 2025, praised the company for reportedly considering a sale of its debit network assets.

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But in a letter to the board and new CEO, ​Jana's managing partner and portfolio manager Scott Ostfeld said it now wants management to go further and review ​the entire portfolio, arguing that asset sales could restore credibility with investors and boost the stock ⁠price.

Jana also reiterated its position that Fiserv needs new directors to address governance issues.

A representative for Jana declined to comment ​beyond the contents of the letter.

Fiserv did not immediately respond to a request for comment.

FISERV HAS LOST HALF ITS VALUE OVER ​PAST YEARAfter months of private negotiations with Milwaukee-headquartered Fiserv, Jana is becoming more vocal, having first discussed its hopes for the company publicly in early June and now following up with the more pointed letter to the company.

Fiserv has a market value of nearly $30 billion but has lost ​more than half of its value in the last 12 months with its stock price closing at $55.63 on Wednesday.

The announcement ​last month by CEO Mike Lyons, who had been in the top job for only a year, that he was leaving to run ‌Truist Financial ⁠Corporation (TFC.N), opens new tab added to the stock's decline.

In the letter, Jana blamed management turnover and unspecified and ongoing missteps for making investors skittish. It singled out the board for failing to attract and keep talented top executives and said new blood was needed in the boardroom to fix these problems.

Most critical, however, was the need to publicly announce a comprehensive review, the letter ​said.

In July, the Wall Street ​Journal reported that big banks, ⁠including JPMorgan Chase (JPM.N), opens new tab and Bank of America (BAC.N), opens new tab, held preliminary and tentative discussions to possibly buy Fiserv's debit network assets. No deal has been announced.

Fiserv announced smaller efforts earlier this year including ​partnering with Bridgeport Partners to form a joint venture spinning off its ATM managed services, ​cash logistics and ⁠MoneyPass networks. And it sold its Education Solutions student loan servicing business to Infinite Computer Solutions.

Jana, which has experience in pushing financial sector companies to perform better, previously said it believes Fiserv can help banks and credit unions adopt artificial intelligence tools in ⁠their own ​businesses, including through a recently announced collaboration with OpenAI.

Three years ago, Jana ​successfully pushed Fiserv competitor Fidelity National Information Services (FIS.N), opens new tab to separate its Worldpay payments business.

The hedge fund is currently pushing for a big share buyback and breakup ​at holding company Markel Group (MKL.N), opens new tab and a sale of digital banking platform Alkami Technology (ALKT.O), opens new tab.

Reporting by Svea Herbst-Bayliss; Editing by Joe Bavier

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

Lantronix to develop a custom solution based on Lantronix’s Open-Q™ 6490CS SOM to support Swarmer’s AI software on small drones for defense missions, boosting onboard computing power by more than 400% compared to current platforms July 30, 2026 08:30 ET  | Source: Lantronix, Inc.

IRVINE, Calif., July 30, 2026 (GLOBE NEWSWIRE) -- Lantronix Inc. (Nasdaq: LTRX), a global provider of Edge AI and Industrial IoT solutions that power NDAA-compliant unmanned systems, critical infrastructure, and resilient enterprise networks, today announced a collaboration with Swarmer, Inc (Nasdaq: SWMR), a drone autonomy software company whose technology has supported more than 100,000 real-world combat missions in Ukraine since April 2024, to create a custom compute platform optimized for Group 1 UAS. Both companies are focused on accelerating deployment of FPV and other small, low-cost drones for Ukraine, U.S. and allied defense programs.

“Autonomy software only proves itself once it’s deployed on hardware that’s actually flying,” said Saleel Awsare, president and CEO of Lantronix. “A production-ready NDAA-compliant Lantronix compute platform with Swarmer’s combat-proven software provides operators with roughly four times the processing power to optimize its visual navigation, automated target recognition, pixel lock and advanced teaming algorithms.”

The integration of Lantronix's Open-Q™ 6490CS System-on-Module is designed to provide Group 1 UAS with the identical connectivity options along with a significant increase in onboard computing capability, enabling more advanced artificial intelligence, computer vision and autonomous mission execution at the tactical edge. The additional processing capacity will support more sophisticated swarming behaviors, sensor fusion and real-time decision-making while providing a production-ready platform designed for long-term deployment.

For military operators, this will result in the ability to field increasingly autonomous, software-defined Group 1 UAS that can adapt to evolving mission requirements through software updates rather than hardware replacement, extending operational capability while reducing lifecycle complexity.

“With more than seven million drones projected to be manufactured this year alone, we believe that every one of them could potentially run our AI and collaborative autonomy software,” said Alex Fink, president and U.S. CEO of Swarmer. “Our collaboration with Lantronix will produce a compute platform that is capable of running AI models on the edge in a small form factor that is optimized for Group 1 UAS. We believe this will become the new industry standard compute solution for small unmanned systems, and every unit will arrive pre-populated with Swarmer OS and Swarmer’s cutting-edge autonomy.”

Founded in Austin, Texas, in May 2023, Swarmer deployed its autonomy software in combat operations in Ukraine in April 2024 and has since flown missions with nearly 50 Ukrainian military units in active electronic warfare and GNSS-denied environments. Swarmer’s software is designed to run across any type of drone — from fixed-wing and rotary-wing aircraft to ground vehicles and sea vessels. The Swarmer solution based on Lantronix Open-Q™ 6490CS SOM will support all of these platforms, allowing a single operator to plan, monitor and execute missions involving hundreds of drones from one hardware base.

How Lantronix Technology Benefits Swarmer
The Open-Q™ 6490CS SOM enables Swarmer to deploy its autonomy software on a production-ready compute platform that improves performance, reduces cost and operational inefficiencies, optimizes SWaP and accelerates deployment across multiple unmanned platforms. On-device AI processing is built for GPS-denied and contested environments, where cloud-dependent compute isn’t reliable.

Sustained production support and NDAA compliance also eliminates supply chain uncertainty, enabling Swarmer to scale deployments across U.S. and allied government customers without hardware availability concerns.

Key Investor Takeaways

Expanded platform opportunity: Broadens Lantronix's role within autonomous defense systems by improving AI compute for multi-platform autonomy software across air, ground and maritime unmanned systems. 

Replaces Soon-to-be Obsolete Technology: Current onboard compute systems are becoming increasingly expensive and unable to match pace with the speed of AI. This customized platform is designed to provide roughly four times the processing power to optimize visual navigation, automated target recognition, pixel lock and advanced teaming algorithms. 

Long-term program support: NDAA compliance and a 10-year-plus production commitment position Lantronix for recurring, long-term revenue as Swarmer secures extended defense contracts, de-risking platform adoption in the defense autonomy market.

Validated, scaling partner: Swarmer (Nasdaq: SWMR) is a publicly traded, combat-proven operator with more than 100,000 missions flown across nearly 50 military units, reducing execution risk on the demand side of the partnership.

About Swarmer

Swarmer™ (Nasdaq: SWMR) is a defense technology company that specializes in vendor-agnostic software which allows one operator to intuitively control hundreds of autonomous platforms in real time. Swarmer’s primary mission areas include autonomous swarm coordination, integration of multi-domain unmanned systems and AI-powered autonomy software for distributed operations. Swarmer is not a drone manufacturer and does not depend on any single platform, supplier or hardware lifecycle. Instead, Swarmer operates at the intelligence layer, developing autonomy, coordination and decision-making software that enables large numbers of low-cost unmanned systems to operate collectively as one coherent, resilient force. Swarmer’s technology has been rigorously validated in real-world kinetic environments and was first deployed in combat operations in Ukraine in April 2024. Since then, it has completed more than 100,000 combat missions, generating terabytes of proprietary data that informs its machine-learning models and enables the replication of advanced pilot performance at scale. Swarmer’s routine use in combat missions generates continuous streams of telemetry, sensor data and operational feedback which are then used to refine performance, increase resilience and accelerate learning. Swarmer has headquarters in Austin, Texas, and maintains operations and teams in Ukraine, Poland and Estonia. For more information, visit www.getswarmer.com.

About Lantronix

Lantronix Inc. (Nasdaq: LTRX) is a global leader in Edge AI and Industrial IoT solutions, delivering intelligent computing, secure connectivity and remote management for mission-critical applications. Serving high-growth markets, including smart cities, enterprise IT and commercial and defense unmanned systems, including drones, Lantronix enables customers to optimize operations and accelerate digital transformation. Its comprehensive portfolio of hardware, software and services powers applications from secure video surveillance and intelligent utility infrastructure to resilient out-of-band network management. By bringing intelligence to the network edge, Lantronix helps organizations achieve efficiency, security and a competitive edge in today’s AI-driven world. For more information, visit the Lantronix website.

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking statements within the meaning of federal securities laws, including, without limitation, statements concerning a potential collaboration between Lantronix and Swarmer and Lantronix’s positioning to capitalize on opportunities for long-term growth in the drone and defense technology markets. These forward-looking statements are based on our current expectations and are subject to substantial risks and uncertainties that could cause our actual results, future business, financial condition, or performance to differ materially from our historical results or those expressed or implied in any forward-looking statement contained in this news release. The potential risks and uncertainties include, but are not limited to, such factors as the effects of negative or worsening regional and worldwide economic conditions or market instability on our business, including effects on purchasing decisions by our customers; our ability to mitigate any disruption in our and our suppliers’ and vendors’ supply chains due to changes in U.S. or foreign government trade policies, including recently increased or future tariffs, a pandemic or other outbreaks, wars and recent conflicts in Europe, Asia and the Middle East, or other factors; future responses to and effects of public health crises; cybersecurity risks; changes in applicable U.S. and foreign government laws and regulations; the risk that no definitive agreement between Lantronix and Swarmer is reached; our ability to successfully implement our acquisitions strategy or integrate acquired companies; difficulties and costs of protecting patents and other proprietary rights; the level of our indebtedness, our ability to service our indebtedness and the restrictions in our debt agreements; and any additional factors included in our Annual Report on Form 10-K for the fiscal year ended June 30, 2025, filed with the Securities and Exchange Commission (the “SEC”) on Aug. 29, 2025, including in the section entitled “Risk Factors” in Item 1A of Part I of that report, as well as in our other public filings with the SEC. Additional risk factors may be identified from time to time in our future filings. In addition, actual results may differ as a result of additional risks and uncertainties about which we are currently unaware or which we do not currently view as material to our business. For these reasons, investors are cautioned not to place undue reliance on any forward-looking statements. The forward-looking statements we make speak only as of the date on which they are made. We expressly disclaim any intent or obligation to update any forward-looking statements after the date hereof to conform such statements to actual results or to changes in our opinions or expectations, except as required by applicable law or the rules of the Nasdaq Stock Market LLC. If we do update or correct any forward-looking statements, investors should not conclude that we will make additional updates or corrections.

©2026 Lantronix, Inc. All rights reserved. Lantronix is a registered trademark. Other trademarks and trade names are those of their respective owners.

Investor Contact (Lantronix):
Matt Glover and Greg Robles
Gateway Group, Inc.
[email protected]

Investor Contact (Swarmer):
[email protected] 

Media Contact (Lantronix):
Diana Puckett
[email protected]

Media Contact (Swarmer): 
[email protected]